Daily Current Affairs MCQ - October 30, 2021 - UPSC MCQ

The Ministry of Finance has released ₹44,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation.

• After taking into account earlier release of ₹ 1,15,000 crore (₹ 75,000 crore released on 15th July, 2021 and ₹ 40,000 crore released on 07th October, 2021), total amount released in the current financial year as back-to-back loan in-lieu of GST compensation is ₹1,59,000 crore.
• This release is in addition to normal GST compensation being released every 2 months out of actual cess collection.
• Subsequent to the 43rd GST Council Meeting held on 28.05.2021, it was decided that the Central Government would borrow ₹1.59 lakh crore and release it to States and UTs with Legislature on a back-to-back basis to meet the resource gap due to the short release of Compensation on account of inadequate amount in the Compensation Fund.
• Hence both statements are correct.

The Government of India and the Asian Development Bank (ADB) signed a $251 million loan for climate-resilient, integrated urban flood protection and management in the Chennai-Kosasthalaiyar basin to strengthen resilience of Chennai city to floods.

• Ministry of Finance, India signed the agreement for the Integrated Urban Flood Management for the Chennai-Kosasthalaiyar River Basin Project, while Shri Takeo Konishi, Country Director of ADB’s India Resident Mission signed for ADB.
• The project interventions will help reduce the vulnerability of Chennai–Kosasthalaiyar basin residents to frequent floods, which have in recent years destroyed property and livelihoods.
• Hence, option (a) is the correct answer.

Raksha Mantri Rajnath Singh visited Terminal Ballistics Research Laboratory (TBRL) of Defence Research and Development Organisation (DRDO) in Chandigarh on October 28, 2021.

• He commended the role of the laboratory in design and development of Multi-Mode Hand Grenade (MMHG), the first munition manufactured by the private sector for the Armed Forces.
• He also mentioned about the Bund Blasting Device Mark II, designed and developed by TBRL, which was handed over to the Indian Army in his presence earlier this month.
• He also inaugurated the Augmented Environmental Test facility.
• Transfer of Technology for TRBL-developed warhead for Man-Portable Anti-Tank Guided Missile (MPATGM) Mk-II was handed over to Economic Explosives Limited, Nagpur on the occasion.
• Hence, option (d) is the correct answer.

India’s Agni 5 ballistic missile was tested for the first time by the Strategic Forces Command.

• The nuclear-capable missile is India’s contender for the Intercontinental Ballistic Missile (ICBM) with a range of 5,000 km. The latest test comes after reports that China had tested a new hypersonic missile in August.
• Agni 5 is India’s long-range surface-to-surface ballistic missile, which can hit a target with a precision that is 5,000 km away. This range puts almost the entire China within the missile’s target range.
• Though officially an ICBM needs a missile to have a range of at least 5,500 km, the Agni 5 is India’s closest contender for an ICBM, as it can reach countries across other continents, including parts of Africa and Europe.
• Hence only statement 1 is correct.

In an attempt to make air travel easier for people with disabilities, the Civil Aviation Ministry issued a list of “draft accessibility standards and guidelines”.

• These guidelines lay down some dos and don’ts for airlines and airport operators to follow to minimise the hurdles faced by disabled people while they are travelling.
• These draft guidelines come nearly a week after actor and dancer Sudha Chandran took to social media to share the ordeal she faced at the airport, where she was asked to remove her prosthetic limb every time she passed through security check.
• As per the draft guidelines, airport operators must now make arrangements to ensure that people with special needs are screened in a way that keeps the “dignity and privacy of the passenger in mind”.
• During the screening of prosthetics, airport security may use X-ray, explosive trace detection devices or visual checks according to their requirement.
• Hence both statements are correct.

• Mental Healthcare Act, 2017: It aims to provide mental healthcare services for persons with mental illness.
• KIRAN: The Ministry of Social Justice and Empowerment has launched a 24/7 toll-free helpline to provide support to people facing anxiety, stress, depression, suicidal thoughts and other mental health concerns.
• Manodarpan Initiative: It is an initiative of the Ministry of Education under Atmanirbhar Bharat Abhiyan. It is aimed to provide psychosocial support to students, family members and teachers for their mental health and well-being during the times of Covid-19.
• Sugamya Bharat Abhiyan is a scheme which aims to make India a friendlier country for differently-abled persons. Under this scheme the government takes necessary actions to make all the public places accessible for physically-challenged individuals.
• Hence, option A is correct.

• The Emissions Gap Report is published by the United Nations Environment Programme (UNEP).
• Recently the twelfth edition of the Emissions Gap Report 2021 has been released.
• It informs that the new national climate pledges combined with other mitigation measures put the world on track for a global temperature rise of 2.7°C by the end of the century.
• Hence, option C is correct.

• Recently, the SWAMIH (Special Window for Affordable & Mid-Income Housing) fund has made its first complete exit from an investment made for completion of a residential project in Mumbai.
  • It has already completed over 1,500 homes in seven projects and is on track to complete at least 10,000 homes every year.
• It aims to provide financing to enable completion of stalled housing projects and ensure delivery of apartments to homebuyers. Hence, statement 1 is correct.
• This is a government backed fund that was set up as a Category-II AIF (Alternate Investment Fund) debt fund registered with SEBI (Securities and Exchange Board of India), launched in 2019. Hence, statement 2 is correct.
• The Investment Manager of the Fund is SBI(State Bank of India)CAP Ventures, a wholly-owned subsidiary of SBI Capital Markets, which in turn is a wholly-owned subsidiary of the SBI.
• The Sponsor of the Fund is the Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India. Hence, statement 3 is not correct.

• New Zealand has become the first country to pass laws requiring banks, insurers and investment managers to report the impacts of climate change on their business.
• The new laws will require financial firms to explain how they would manage climate-related risks and opportunities, and the disclosure requirements will be based on standards from New Zealand’s independent accounting body.
  • The law will force financial firms to assess not only their own investments, but also to evaluate the companies they are lending money to, in terms of their environmental impact.
• The disclosures will become mandatory for financial years beginning in 2023.
• Hence, option B is correct.

• Recently, the Ministry of Earth Sciences (MoES) has launched India’s first manned ocean mission “Samudrayaan” in Chennai. Hence, statement 1 is correct.
  • With this Unique Ocean Mission, India joined the elite club of nations such as the US, Russia, France, Japan, and China to have niche technology and vehicles to carry out subsea activities.
• It is India’s first unique manned ocean mission that aims to send men into the deep sea in a submersible vehicle for deep-ocean exploration and mining of rare minerals. Hence, statement 2 is correct.
  • It will send three persons in a manned submersible vehicle MATSYA 6000 to a depth of 6000 metres into the sea for deep underwater studies. Hence, statement 3 is correct.