Daily Current Affairs MCQ- March 29, 2023 - UPSC MCQ

According to a recent statement by the World Health Organization (WHO), as many as 85,765 confirmed and 1,382 probable cases of monkeypox were reported from 110 countries since January 1, 2022.

• Monkeypox is caused by the monkeypox virus which belongs to the orthopoxvirus genus.
• The virus is normally seen in African countries.
• Sub-genus: There are two clades of monkeypox virus, the West African clade and the Congo Basin (Central African) clade.
• Transmission: Monkeypox is a viral zoonosis (a virus transmitted to humans from animals), for example, bites of infected rodents and squirrels and is also transmitted from one person to another.

Hence only statement 2 is correct.

Recently, scientists from the Institute of Advanced Study in Science and Technology said that fluorescent carbon nanomaterial-based immunosensor from natural sources can help in the detection of the Vascular Endothelial Growth Factor.

• The endothelium is a monolayer of endothelial cells and constitutes the inner cellular lining of the blood vessels (arteries, veins and capillaries) and the lymphatic system.
• The endothelium is a major player in the control of blood fluidity, platelet aggregation and vascular tone.
• It is a major factor in the regulation of immunology, inflammation and angiogenesis, and an important metabolizing and endocrine organ.

Hence both statements are correct.

Recently, to empower youth by providing them entry-level skill training in Railway Training Institutes, “Rail Kaushal Vikas Yojana” (RKVY) has been notified.

• It is a skill development scheme with a special focus on providing training for jobs that are relevant to the Railways.
• It is a sub-scheme under Pradhan Mantri Kaushal Vikas Yojana (PMKVY).
• Nodal Ministry: Ministry of Railway.
• The training is provided free of cost to the candidates and there is no provision for providing employment under this scheme.
• Eligibility Criteria: Candidates, who had passed class X and are aged between 18 and 35 are eligible to apply.

Hence only statement 2 is correct.

The commerce ministry has recommended the imposition of countervailing duty on imports of a chemical used in making personal care products from Indonesia, Malaysia, and Thailand as it was impacting the domestic industry.

About Countervailing duty (CVD):

• It is a specific form of duty that the government imposes to protect domestic producers by countering the negative impact of import subsidies.
• CVD is thus an import tax by the importing country on imported products.
• Why is CVD imposed?
• Foreign governments sometimes provide subsidies to their producers to make their products cheaper and boost their demand in other countries.
• To avoid flooding the market in the importing country with these goods, the government of the importing country imposes CVD, charging a specific amount on the import of such goods.
• The duty nullifies and eliminates the price advantage enjoyed by an imported product.
• The duty raises the price of the imported product, bringing it closer to its true market price
• The World Trade Organization (WTO) permits the imposition of CVD by its member countries.
• Who administers CVD in India?
• The countervailing measures in India are administered by the Directorate General of Anti-dumping and Allied Duties (DGAD), in the commerce and industry ministry’s department of commerce. 
• While the department of commerce recommends the CVD, the department of revenue in the finance ministry acts upon the recommendation within three months and imposes such duties.

Hence only statement 1 is correct.

The Supreme Court has directed the Central Government and Reserve Bank of India (RBI) to respond to whether Overseas Citizens of India (OCI) can be exempted from the Foreign Exchange Management Act’s (FEMA) norms.

About Foreign Exchange Management Act (FEMA):

• FEMA is an enactment that deals primarily with the provisions relating to cross-border trade and payments thereof.
• It defines the procedures, formalities, and dealings of all foreign exchange transactions in India. 
• It was introduced in 1999 as a replacement for the earlier Foreign Exchange Regulation Act (FERA).
• FEMA's head office is known as Enforcement Directorate and is situated in Delhi.
• Primary objective: To help facilitate external trade and payments in India.
• Applicability:
• It is applicable to all parts of India.
• It is also equally applicable to the offices and agencies located outside India but managed or owned by an Indian Citizen.
• FEMA is applicable to the following entities and transactions
• Any citizen of India residing in the country or outside (NRI);
• Any overseas company that is owned 60% or more by an NRI (Non-Resident Indian);
• Any Associate Branches or subsidiaries, outside India, of companies or bodies corporate, registered or incorporated in India;
• Exports of any goods and services from India;
• Imports of goods and services to India;
• Banking, financial, and insurance services provided outside India;
• Cross-border sale, purchase, and exchange of any kind (i.e. Transfer).

Hence only statement 1 is correct.

The Central Government listed 7 priorities – called ‘Saptarishi’ in Budget 2023- inclusive development, Last mile delivery, Infrastructure, Green growth, Youth power, Unleashing potential, and Financial inclusion.

Key Initiatives under Youth Power:

Pradhan Mantri Kaushal Vikas Yojana 4.0:

• It will be launched to skill lakhs of youth within the next three years.
• The scheme will emphasize on-job training, industry partnership, and alignment of courses with the needs of the industry.
• The scheme will also cover new-age courses for Industry 4.0, like coding, Artificial Intelligence, robotics, mechatronics, IOT, 3D printing, drones, and soft skills. 
• What is Pradhan Mantri Kaushal Vikas Yojana?
• It is the flagship scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) implemented by the National Skill Development Corporation. 
• Objective: To enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood.
• Under the scheme, individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL).

Hence both statements are correct.

The Central Government listed 7 priorities – called ‘Saptarishi’ in Budget 2023- inclusive development, Last mile delivery, Infrastructure and Investment, Green growth, Youth power, Unleashing potential, and Financial inclusion.

Key Initiatives under Infrastructure and Investment:

Support to State Governments for Capital Investment:

• Last year, the Government of India launched a Scheme Special Assistance to States for Capital Investment for 2022-23.
• Under this Scheme, financial assistance is provided to the State Governments in the form of a 50-year interest-free loan for capital investment projects.
• The loan provided under the scheme will be over and above the normal borrowing ceiling allowed to the States.
• Budget 2023: The scheme will be continued for one more year with a significantly enhanced outlay of 1.3 lakh crore.

Hence only statement 2 is correct.

Recently, the State Bank of India, Bank of Baroda and Indian Overseas Bank have raised their marginal cost of fund-based lending rates (MCLR) by up to 15 basis points. 

• It is the minimum interest rate below which no bank is permitted to lend money.
• It is determined by banks internally, depending upon the loan repayment time.
• The Reserve Bank of India introduced the MCLR methodology for fixing interest rates on 1 April 2016.
• It replaced the base rate structure, which had been in place since July 2010.
• The rate is determined internally by the bank depending on the period left for the repayment of a loan.
• MCLR is calculated based on four components Marginal cost of fund, Negative carry on account of cash reserve ratio, Operating costs, and Tenor premium.

Hence only statement 1 is correct.

Recently, the Cabinet Committee on Security (CCS) approved the raising of seven new battalions of the Indo-Tibetan Border Police (ITBP) force.

• Indo-Tibetan Border Police is one of the Central Armed Police Forces of India.
• It is a specialized mountain force and most of the officers and men are professionally trained mountaineers and skiers.
• Origin: It was raised in 1962, in the wake of the Sino-Indian War of 1962 for deployment along India's border with China's Tibet Autonomous Region.
• Status: ITBP was initially raised under the CRPF Act. However, in 1992, parliament enacted the ITBPF Act and the rules there under were framed in 1994.
• The motto of the Force: “Shaurya-Dridhata-Karma Nishtha” (Valour – Determination – Devotion to Duty).
• Nodal Ministry: Ministry of Home Affairs.

Hence only statement 1 is correct.

Ministry of Culture is organising the First G20 Culture Group (CWG) meeting in Khajuraho, Madhya Pradesh from 22nd to 25th February 2023.

• Khajuraho is an ancient city known for its majestic temples and elaborate sculptures.
• The Khajuraho Group of Monuments is a UNESCO World Heritage Site which was constructed by the Chandela Dynasty between 950-1050 AD.
• These monuments are built in Nagara-style architecture and ornamented with intricate and detailed sculptures.
• The monuments include Hindu and Jain temples.
• According to historical records, there were 85 temples in the temple site in Khajuraho, covering 20 square kilometres, in the 12th Century AD.

Hence only statement 2 is correct.