Daily Current Affairs MCQ: 8th September 2024 - UPSC MCQ

Statement-I talks about the exposure of Indian districts to extreme climate events, which is accurate based on the information provided in the source material. The study highlighted that over 85% of districts in India are vulnerable to various climate events like floods, droughts, cyclones, and heatwaves. This aligns with the content provided.
However, Statement-II regarding India overtaking China as the most attractive emerging market for investing, as per the MSCI Emerging Markets Investable Market Index, is not accurate. The provided information discusses India surpassing China in the MSCI Emerging Markets Investable Market Index by becoming the largest country by weight, but it does not indicate that India has overtaken China as the most attractive emerging market for investing. 
Therefore, based on the accuracy of the statements in relation to the source material, the correct option is (c) Statement-I is correct, but Statement-II is incorrect.

- Statement 1 is correct: The 'Jal Sanchay Jan Bhagidari' initiative indeed aims to build around 24,800 rainwater harvesting systems throughout the state to enhance rainwater collection and promote sustainable water use.

- Statement 2 is incorrect: The initiative does not focus solely on government involvement. Instead, it emphasizes a whole-of-society and whole-of-government approach, promoting community involvement and shared responsibility in water conservation efforts.

- Statement 3 is correct: The initiative includes the construction of storage tanks and various recharge structures as part of its rainwater harvesting systems to store the harvested water or facilitate its recharge back into the groundwater.

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

1. The first statement is correct. The study by IPE-Global and ESRI-India does indicate that there has been a two-fold increase in drought events, both agricultural and meteorological, over the last 50 years.

2. The second statement is also correct. The study found that more than 60% of districts in states like Bihar, Andhra Pradesh, Odisha, Gujarat, Rajasthan, and Assam are facing multiple extreme climate events simultaneously.

3. The third statement is correct as well. The study highlights a significant swapping trend where more than 45% of Indian districts that historically faced floods are now experiencing drought conditions and vice versa.

Given that all three statements are accurate based on the study's findings, the correct answer is Option D.

India's rise as the largest country by weight in the MSCI Emerging Markets Investable Market Index (IMI) is primarily attributed to consistent development efforts and structural reforms. These efforts, along with anti-corruption initiatives, have propelled India's economic growth, making it an attractive destination for investors. The country's stock market has shown significant growth, outperforming global equities, which has garnered global attention towards India's growth potential.

Correct Answer- Option-C
Statement-I is correct as India and the GCC did sign a Framework Agreement in August 2004 to enhance and develop economic cooperation. However, Statement-II is incorrect as India's economic ties with the GCC have not weakened due to decreasing oil imports; in fact, these ties have consistently strengthened, particularly due to rising oil imports as mentioned in the provided text.

The 'Jal Sanchay Jan Bhagidari' initiative, recently launched by the Prime Minister, aims to improve rainwater harvesting and ensure long-term water sustainability. This program focuses on community involvement and shared responsibility to save water, utilizing a whole-of-society and whole-of-government strategy.

The primary reason for the widening gap between deposits and credit growth in the banking sector is the shift of household savings from banks to capital markets. This shift has been fueled by various factors such as higher returns in capital markets, improved digital infrastructure, and increased retail participation. As more individuals choose to invest in capital markets, banks are facing challenges in attracting and retaining deposits, leading to an asset-liability mismatch.

1. The Gulf region is indeed India's immediate neighborhood, separated only by the Arabian Sea. This pair is correctly matched.

2. The inaugural India-GCC Political Dialogue took place on the sidelines of the United Nations General Assembly in 2003, not in 2022. This pair is incorrectly matched.

3. The GCC supplies approximately 35% of India’s oil imports. This pair is correctly matched.

4. Recent statistics indicate that around 8.9 million Indian expatriates reside in GCC countries. This pair is correctly matched.

So, pairs 1, 3, and 4 are correctly matched, making the correct answer Option C: Only three pairs.

Statement 1: This statement is correct. The GCC countries collectively supply approximately 35% of India's oil imports and 70% of its gas imports, highlighting the significant energy cooperation between India and the GCC region.

Statement 2: This statement is also correct. In September 2022, India and the GCC signed a Memorandum of Understanding (MoU) on consultation mechanisms, which established a framework for annual dialogues between the External Affairs Minister of India and the GCC-Troika.

Statement 3: This statement is incorrect. According to the RBI Remittances Survey 2021, the share of remittances from the GCC in India's total inward remittances actually fell from over 50% in 2016-17 to about 30% in 2020-21, not increased to 70%.

Thus, the correct statements are 1 and 2 only.

Explanation: The provided solution justifies the correct answer by clearly explaining the accuracy of each statement based on the given information. Statement 1 and Statement 2 are aligned with the facts from the text, while Statement 3 is explicitly refuted with accurate data, ensuring there is no ambiguity.

1. National Water Mission (NWM) - Incorrectly matched. The main goal of NWM is to save water, reduce waste, and ensure fair distribution of water across different sectors. It does not focus on providing piped water to every rural household by 2024. That goal is associated with the Jal Jeevan Mission (JJM).

2. Jal Jeevan Mission (JJM) - Incorrectly matched. JJM aims to provide piped water to every rural household by 2024. It does not primarily focus on improving water use efficiency and recharging groundwater. These goals are part of the National Water Mission (NWM).

3. Atal Bhujal Yojana (ABHY) - Correctly matched. ABHY focuses on better management of groundwater and encourages sustainable use of groundwater in areas facing water shortages in India.

4. Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) - Correctly matched. PMKSY aims to improve access to water for farming and increase the area of land that has reliable irrigation. It also seeks to enhance on-farm water use efficiency and promote sustainable water conservation methods.

Thus, only the pairs for Atal Bhujal Yojana (ABHY) and Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) are correctly matched.