Daily Current Affairs MCQ: 1st September 2024 - UPSC MCQ

The primary goal of the World Gold Council (WGC) is to increase the use and demand for gold. It aims to promote gold through various means such as marketing, research, and advocacy. By encouraging individuals, industries, and institutions to use gold, the WGC plays a key role in supporting and growing the gold industry globally.

Guru Padmasambhava, also known as Guru Rinpoche, is recognized as one of the founding fathers of Tibetan Buddhism. He played a crucial role in spreading the teachings of Lord Buddha in various regions, including Tibet. Tibetan Buddhism emphasizes practices such as meditation, rituals, and spiritual techniques that Guru Padmasambhava was instrumental in propagating.

1. Location of World Gold Council's main office - New York: Incorrect. The World Gold Council's main office is located in London, not New York.

2. Establishment year of World Gold Council - 1987: Correct. The World Gold Council was established in 1987.

3. First gold exchange-traded fund - Created by World Gold Council: Correct. The World Gold Council was responsible for creating the first gold exchange-traded fund.

4. Countries where World Gold Council operates - India, China, Singapore, and the USA: Correct. The World Gold Council has operations in India, China, Singapore, and the USA.

Thus, three pairs are correctly matched.

1. Statement 1 is Correct: The World Gold Council (WGC) is indeed a nonprofit organization established in 1987, and it consists of the leading gold mining companies globally. The Council aims to develop the gold market and increase the demand for gold through various initiatives.

2. Statement 2 is Incorrect: The WGC's operations cover markets that account for about 75% of global gold consumption each year, not 50%. This significant coverage underscores the Council’s influence in the global gold industry.

3. Statement 3 is Correct: The WGC played a pivotal role in creating the first gold exchange-traded fund (ETF). This initiative has been crucial in making gold investment more accessible to a broader range of investors.

Therefore, the correct answer is Option C: 1 and 3 Only.

Statement-I is correct as Guru Padmasambhava is indeed recognized as one of the founding fathers of Tibetan Buddhism. However, Statement-II is incorrect as Guru Padmasambhava lived in the 8th century in ancient India, not the 7th century. Thus, the correct answer is option C.

The BioE3 policy in India primarily aims at fostering innovation-driven research and entrepreneurship across various sectors, particularly in biotechnology. By promoting the development and commercialization of technologies through initiatives like creating Biomanufacturing & Bio-AI hubs and Biofoundries, the policy seeks to boost the biotechnology-driven manufacturing sector in the country. This emphasis on innovation and entrepreneurship aligns with the broader goal of promoting a sustainable, innovative future responsive to global challenges.

1. Statement 1 is correct: The BioE3 policy does aim to establish 'bio-foundries' that will manufacture biotechnology-derived feedstock and catalysts. This is a key component of the policy to enhance biotechnology-driven manufacturing in India.

2. Statement 2 is incorrect: The Ethanol Blended Petrol (EBP) Programme initially allows Oil Marketing Companies (OMCs) to sell petrol blended with up to 10% ethanol (E10), not 15% (E15). The target is to elevate this blending ratio to 20% (E20) by 2025, but currently, it is up to 10%.

3. Statement 3 is correct: The average ethanol blending in petrol in India has indeed increased from 1.6% in 2013-14 to 11.8% in 2022-23. This significant increase reflects the efforts and policies implemented to boost ethanol production and blending in India.

Thus, the correct answer is Option C: 1 and 3 Only.

1. Correct: The McMahon Line is indeed the disputed boundary in the Eastern Sector of the India-China border. It was established during the 1913-14 Shimla conference and has been a point of contention between India and China, with China not recognizing the boundary.

2. Incorrect: The Aksai Chin region, part of the Western Sector, is currently administered by China, not India. This area was claimed by China as part of Xinjiang after the 1962 war and remains under Chinese control.

3. Correct: The Border Roads Organisation (BRO) is indeed completing the Shinku La tunnel, which will be the highest tunnel globally at 15,800 feet, enhancing connectivity to Leh.

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

Statement-I correctly summarizes the focus areas of efforts to boost ethanol production in India, highlighting the key areas of emphasis. Statement-II accurately describes the aim of the BioE3 policy in establishing enzyme-manufacturing facilities to enhance ethanol production. Furthermore, Statement-II logically explains Statement-I by elaborating on how the policy aims to achieve the goals outlined in Statement-I. Therefore, option (a) is the most appropriate choice as both statements are correct, and Statement-II effectively explains Statement-I.

1. Aksai Chin - Central Sector: Incorrect. Aksai Chin is part of the Western Sector of the India-China border dispute.

2. McMahon Line - Eastern Sector: Correct. The McMahon Line is the disputed boundary in the Eastern Sector of the India-China border.

3. Shinku La Tunnel - Western Sector: Incorrect. The Shinku La Tunnel is part of the infrastructure projects to enhance connectivity to Leh, which is not specifically categorized as the Western Sector. It is part of the central region infrastructure development.

4. Daulat Beg Oldi - Eastern Sector: Incorrect. Daulat Beg Oldi is located in the Western Sector near the Line of Actual Control in eastern Ladakh.