Daily Current Affairs MCQ: 17th August 2024 - UPSC MCQ

1. Foreign Exchange Management Act (FEMA), 1999 - Regulates external trade and payments
Correct. FEMA was enacted to facilitate external trade and payments and to promote the orderly development and maintenance of the foreign exchange market in India.

2. Foreign Exchange Regulation Act (FERA), 1973 - Promotes the orderly development of the foreign exchange market in India
Incorrect. FERA was designed to conserve foreign exchange and ensure it was utilized only in the interest of the development of the country, not specifically to promote the orderly development of the foreign exchange market.

3. Non-repatriation basis - Funds cannot be transferred back to the investor's home country
Correct. Non-repatriation basis means that the funds must remain in India and cannot be transferred back to the investor's home country.

4. Lake Gatun - Key to Panama Canal's operation
Correct. Lake Gatun is an artificial reservoir that is critical to the operation of the Panama Canal.

Thus, only pairs 1, 3, and 4 are correctly matched.

1. SSLV-D1 mission - Carried EOS-02 and AzaadiSat (Correct)
- The SSLV-D1 mission did indeed carry EOS-02 and AzaadiSat in August 2022.

2. SSLV-D2 mission - Placed three satellites into intended orbit (Correct)
- The SSLV-D2 mission successfully inserted three satellites into the intended 450 km circular orbit in February 2023.

3. SSLV-D3 mission - Launched from Kulasekarapattinam (Incorrect)
- The SSLV-D3 mission was launched from the Satish Dhawan Space Centre in Sriharikota, not from Kulasekarapattinam.

4. EOS-08 satellite - Equipped with Electro-Optical Infrared Payload (EOIR) (Correct)
- The EOS-08 satellite is indeed equipped with the Electro-Optical Infrared Payload (EOIR) among other technologies.

So, pairs 1, 2, and 4 are correctly matched, but pair 3 is not. Hence, only two pairs are correctly matched.

Both statements are factually accurate. Statement-I correctly states that the Panama Canal was constructed by the US government at a cost of 375 million dollars. Statement-II is also correct as it mentions that the US government owned and operated the canal until 1999, following which the Panamanian government took control. Statement-II indeed explains the historical transition of ownership and operation of the Panama Canal from the US to Panama, making both statements correct and logically coherent in their historical context.

- Statement-I is correct: ISRO's Small Satellite Launch Vehicle (SSLV) is indeed a three-stage launch vehicle with a lift-off weight of about 120 tonnes, a length of 34 meters, and a diameter of 2 meters.
- Statement-II is incorrect:It is Krishi -DSS not Kisan-DSS that may provide access to various agricultural data.
- Therefore, the correct choice is Option C: Statement-I is correct, but Statement-II is incorrect.

1. Namdapha National Park and Tiger Reserve: Located in Assam - Incorrect. Namdapha National Park and Tiger Reserve is situated in the Changlang District of Arunachal Pradesh, not Assam.

2. Blue Vanda: A unique orchid found in Namdapha - Correct. Blue Vanda is indeed a unique orchid species found in Namdapha.

3. Hoolock Gibbons: Found in Namdapha National Park - Correct. Hoolock Gibbons are present in Namdapha National Park.

4. NPSS: A project by the Department of Agriculture and Farmers Welfare - Correct. The National Pest Surveillance System (NPSS) is a digital project launched by the Ministry of Agriculture and Farmers Welfare.

Thus, pairs 2, 3, and 4 are correctly matched.

1. Correct: Namdapha National Park is indeed situated at the confluence of the Indian Sub-Continent Biogeographic Region and the Indo-China Biogeographic Region, which contributes to its rich biodiversity.

2. Incorrect: While the Namdapha River does originate from Dapha Bum, it merges with the Noa-Dehing River, not directly with the Brahmaputra River. The Noa-Dehing River is a tributary of the Brahmaputra.

3. Correct: Namdapha National Park is noteworthy for housing all four big cat species found in India: Tiger, Leopard, Snow Leopard, and Clouded Leopard.

Thus, the correct statements are 1 and 3.

The National Green Tribunal (NGT) was established to address civil cases concerning environmental issues and issues related to laws listed in Schedule I of the NGT Act. This includes laws such as The Water (Prevention and Control of Pollution) Act, The Forest (Conservation) Act, The Air (Prevention and Control of Pollution) Act, and others. The NGT functions like a court and is empowered to hear appeals, not bound by the Code of Civil Procedure, 1908. One of its key mandates is to resolve applications or appeals within 6 months of filing, ensuring a swift resolution of environmental disputes.

1. Mandatory Government Approvals: The amendments indeed introduce a requirement for mandatory government approvals for investments from countries sharing land borders with India. This is a measure intended to secure the country’s strategic and economic interests.

2. Simplification of Cross-Border Share Swaps: The amendments aim to simplify the process of cross-border share swaps, which facilitates the global expansion of Indian companies. This change follows the Union Budget's emphasis on simplifying foreign investment rules, thus making it easier for Indian companies to engage in mergers and acquisitions internationally.

3. Alignment of Downstream Investments: Another significant amendment is the alignment of the treatment of downstream investments by Overseas Citizens of India (OCI)-owned entities with those by Non-Resident Indians (NRIs) on a non-repatriation basis. This means that the funds invested by NRIs and OCIs cannot be repatriated to their home countries and must remain in India, promoting greater investment and participation in Indian markets by these groups.

All three statements are correct as per the recent amendments to the Foreign Exchange Management (Non-debt Instruments) Rules, 2019. Hence, the correct answer is Option D.

1. Correct: The SSLV is indeed designed to launch small satellites ranging from 10 to 500 kilograms into Low Earth Orbit. This makes it suitable for mini, micro, and nano satellite launches.

2. Correct: The SSLV employs a combination of three solid propulsion stages and a liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage. The VTM is used to correct the velocity just before the satellite injection into orbit, confirming the use of both solid and liquid propulsion stages.

3. Incorrect: The SSLV-D1 mission, which took place in August 2022, did not successfully place the satellites into the intended orbit. It was a failure. The first successful mission for SSLV was SSLV-D2, which took place in February 2023.

Thus, statements 1 and 2 are correct, while statement 3 is incorrect. Therefore, the correct answer is Option B: 1 and 2 Only.

The primary purpose of the Small Satellite Launch Vehicle (SSLV) developed by ISRO is to cater to the launch of small satellites. SSLVs are specifically designed to launch small-sized satellites weighing between 10 to 500kg into the Low Earth Orbit. These satellites are often referred to as mini, micro, or nano satellites. The SSLV is cost-effective, supports commercial and on-demand launches, and facilitates quick satellite insertion into the desired orbits.