Daily Current Affairs MCQs: 5th July 2025 - Humanities/Arts MCQ

The Nomura study recommends that India reform its CAFE norms to introduce protective measures for small cars. This aims to create a more balanced approach that does not disproportionately penalize smaller vehicles, thereby encouraging innovation in the small car market.

The AoS allows member countries to apply temporary trade barriers when their domestic industries are threatened by a surge in imports. This mechanism is crucial for maintaining global trade discipline while protecting local economies from unfair competition.

According to estimates, India may lose just under $500 million in formal remittance inflows due to the new 1% remittance tax. This is relatively minor compared to the overall remittance volume India receives, showcasing the resilience of the remittance market despite the tax.

Air pollution is a significant environmental challenge in India's top cities, with many cities being among the most polluted globally. The primary contributors include vehicular emissions, construction dust, and biomass burning, highlighting the need for effective environmental policies.

The Hydrocarbon Exploration and Licensing Policy (HELP) has facilitated oil exploration in the Andaman Basin, allowing for comprehensive licensing that simplifies compliance and attracts investment. This reform positions India to better harness its offshore oil potential.

India has notified the WTO of its intention to impose $724 million in retaliatory tariffs on the United States in response to unilateral auto import duties. This action highlights India's assertive approach in protecting its trade interests while adhering to international trade rules.

The 1975 Emergency in India led to the erosion of democratic norms and rights, as the government exploited constitutional vulnerabilities to suppress dissent. This period serves as a critical lesson about the importance of safeguarding democracy and institutional integrity.

The new US remittance tax includes exemptions for certain transactions, such as bank account transfers and remittances under $15, thus limiting its impact on smaller transactions and ensuring that low-cost transfers remain feasible.

By 2030, it is projected that 40% of India's population may face water scarcity, highlighting the urgent need for innovative water management solutions. This potential crisis underscores the importance of sustainable practices, such as rainwater harvesting, to secure water resources.

One of the key reforms under HELP is the provision for a single license that covers all hydrocarbons, including oil and gas, which simplifies the regulatory process for exploration and can lead to increased investment in the sector. This reform aims to enhance exploration capabilities and foster a more competitive market.