Daily Current Affairs MCQ - May 11, 2021 - UPSC MCQ

• National Financial Reporting Authority (NFRA) was constituted in 2018 by the Government of India under section 132 (1) of the Companies Act, 2013. It is an audit regulator. Hence, statements 1 is correct.
• NFRA account is monitored by the Comptroller and Auditor General of India. Hence, statement 2 is correct.
• NFRA can undertake investigation related to the companies whose securities are listed on any stock exchange in India or outside India. Hence, statement 3 is not correct.

• Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc.
• Inflation measures the average price change in a basket of commodities and services over time.
  • Inflation is indicative of the decrease in the purchasing power of a unit of a country’s currency. This could ultimately lead to a deceleration in economic growth.
  • However, a moderate level of inflation is required in the economy to ensure that production is promoted.
• In India, inflation is primarily measured by two main indices — WPI (Wholesale Price Index) and CPI (Consumer Price Index) which measure wholesale and retail-level price changes, respectively. Hence, statement 1 is correct.
• Core inflation is the change in the costs of goods and services but does not include those from the food and energy sectors. This measure of inflation excludes these items because their prices are much more volatile. Hence, statement 2 is correct.
  • It is important because it's used to determine the impact of rising prices on consumer income.

• Recently, thirteen states have started distributing foodgrains under the Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY).
• PMGKAY is a part of Pradhan Mantri Garib Kalyan Package (PMGKP) to help the poor fight the battle against Covid-19.
  • Its nodal Ministry is the Ministry of Finance. Hence, statement 1 is correct.
• Initially, the scheme was announced for a three month period (April, May and June 2020), covering 80 crore ration cardholders. Later it was extended till November 2020.
  • However in April 2021, the government had announced its decision to restart the PMGKAY.
• The scheme is aimed at providing each person who is covered under the National Food Security Act 2013 with an additional 5 kg grains (wheat or rice) for free, in addition to the 5 kg of subsidised foodgrain already provided through the Public Distribution System (PDS). Hence, statement 2 is correct.

TRAI regularly issues orders and directions on various subjects such as tariffs, interconnections, quality of service, Direct To Home (DTH) services and mobile number portability.

The Constitution permits the central and State governments to make laws when Parliament (or the State Legislature) is not in session. The Constitution states that the ordinance will lapse at the end of six weeks from the time Parliament (or the State Legislature) next meets.

An ordinance can be re-promulgated only thrice. The governor of a state can also issue ordinances under Article 213 of the Constitution of India, when the state legislative assembly is not in session.

Designed by SpaceX, Starship is a spacecraft and super-heavy booster rocket meant to act as a reusable transportation system for crew and cargo to the Earth’s orbit, Moon and Mars. SpaceX has described Starship as “the world’s most powerful launch vehicle” with an ability to carry over 100 metric tonnes to the Earth’s orbit.

Starship can deliver satellites further and at lower marginal costs than Falcon vehicles and it can ferry both cargo and crew to the International Space Station (ISS). Once developed, Starship is also expected to help carry large amounts of cargo to the Moon, for human spaceflight development and research. Beyond the Moon, the spacecraft is being designed for carrying crew and cargo for interplanetary missions as well.

NASA chose SpaceX to build a lander for its Artemis programme, which plans to send humans to the Moon in this decade. 

The inaugural “International Day of Argania” was observed on May 10, 2021.

Dogecoin features the face of the Shiba Inu dog from the “Doge” meme as its logo and namesake

The NITI Aayog has released a report titled ‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’ on May 10, 2021. NITI Aayog has released the report in collaboration with Mastercard. The report identifies the various challenges faced in accelerating digital financial inclusion in India and also provides recommendations for making digital services accessible to its 1.3 billion citizens.

In India, the National Technology Day is observed every year on May 11 since 1999 to to memorize the anniversary of Shakti, the Pokhran nuclear test held on 11 May 1998.