Daily Current Affairs MCQ: 19th July 2024 - UPSC MCQ

1. Section 80C of the Income Tax Act: Correctly matched. Section 80C permits certain investments and expenses to be tax-exempted, including NSC, ULIP, and PPF.

2. ELSS mutual funds: Incorrectly matched. ELSS mutual funds have a lock-in period of 3 years, not 5 years.

3. New tax regime (2020-21): Incorrectly matched. The new tax regime introduced in 2020-21 does not retain the benefits of all tax exemptions and deductions, making ELSS less attractive to investors.

4. Asset allocation in ELSS: Correctly matched. ELSS mutual funds' asset allocation is mostly (65% of the portfolio) made towards equity and equity-linked securities such as listed shares.

Thus, only pairs 1 and 4 are correctly matched.

1. Limited Community Participation: This statement is correct. One of the significant issues with India's tree planting schemes is the lack of substantial involvement from local communities, which affects the sustainability and effectiveness of these initiatives.

2. Promotion of Monoculture: This statement is incorrect. Promoting monoculture in tree planting drives can be detrimental to biodiversity and carbon sequestration rather than enhancing it. Monoculture can lead to reduced resilience against pests and diseases and can negatively impact local ecosystems.

3. Inappropriate Tree Planting in Non-Deforested Areas: This statement is correct. Planting trees in areas like grasslands or animal habitats that are not naturally forested can harm ecosystems, increase the risk of wildfires, and exacerbate global warming instead of mitigating it.

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

Fragmentation of habitats worsened by climate change is a significant factor contributing to the vulnerability of elephants, particularly in Kerala's forests. This process leads to shrinking habitats and increased isolation of elephant populations, making them more susceptible to various threats such as human-wildlife conflict and reduced genetic diversity. Maintaining large, interconnected habitats is crucial for the long-term survival and well-being of elephant populations.

Statement-I correctly describes Niger as a country in West Africa that gained independence from France in 1960 and highlights its status as one of the world's poorest nations despite having significant uranium reserves. Statement-II accurately portrays Ivory Coast, situated on the southern coast of West Africa, experiencing political instability but achieving relative stability since 2016, with an economy relying on cocoa, coffee, gold mining, and oil refining. Both statements provide accurate information about the respective countries without one directly explaining the other, hence the correct answer is option (b).

Statement-I correctly highlights India's claim of fulfilling its Paris Agreement commitments and achieving an additional carbon sink of 1.97 billion tonnes of CO2 equivalent. This reflects India's efforts towards climate change mitigation. On the other hand, Statement-II mentions the encroachment of Indian forests and the loss of hectares for non-forestry purposes, which is accurate but not directly related to the achievement mentioned in Statement-I. Therefore, Statement-I is correct in its context, but Statement-II, although true, is not directly explaining or related to the content of Statement-I.

1. Van Mahotsava – Celebrated annually in July to promote tree planting and environmental conservation.

- This statement is correctly matched. Van Mahotsava is indeed celebrated annually in July in India to promote tree planting and environmental conservation.

2. Bonn Challenge – An initiative to restore degraded landscapes globally.

- This statement is correctly matched. The Bonn Challenge is a global effort to restore degraded and deforested landscapes.

3. Monoculture Risks – Promotes biodiversity and enhances carbon sequestration.

- This statement is incorrectly matched. Monoculture refers to the cultivation of a single type of tree or plant over a large area, which can be detrimental to biodiversity and does not enhance carbon sequestration as effectively as diverse planting.

4. Encroachment – Refers to the legal use of forest land for non-forestry purposes.

- This statement is incorrectly matched. Encroachment refers to the illegal occupation or use of forest land for non-forestry purposes, leading to deforestation and habitat loss.

Thus, only two pairs (1 and 2) are correctly matched.

1. Niger: Niamey - Correct. Niamey is the capital of Niger.

2. Ivory Coast: Yamoussoukro - Correct. Yamoussoukro is the political capital of Ivory Coast.

3. Pacific Island States: Melanesia, Micronesia, Polynesia - Correct. These are the primary subregions of the Pacific Island States.

4. Kerala: Highest elephant population in India - Incorrect. Karnataka has the highest number of elephants in India, not Kerala.

Thus, three pairs are correctly matched.

Statement-I is correct because Equity Linked Savings Schemes (ELSS) are indeed the only kind of mutual funds eligible for tax deductions under Section 80C of the Income Tax Act, 1961. On the other hand, Statement-II is incorrect as ELSS mutual funds' asset allocation is mostly made towards equity and equity-linked securities such as listed shares, and not fixed-income securities like government bonds. This misalignment between the statements makes option (c) the correct choice.

Vasco da Gama's historic voyage in 1497 was significant for reshaping global maritime routes. This voyage not only opened up new trade routes but also had a lasting impact on trade and culture, influencing societies in numerous ways. It marked the beginning of an era of exploration that introduced various goods and ideas, transforming global interactions and trade patterns.

1. Correct: Tobacco was indeed introduced to South Asia by European traders, specifically the Portuguese, Dutch, and British. This historical introduction has had a lasting impact on the region's agricultural and economic landscape.

2. Incorrect: The revenue generated by the tobacco industry in India through taxation and exports is over ₹22,000 crores annually, not ₹40,000 crores. This figure is significant but does not match the statement given.

3. Correct: Article 21 of the Indian Constitution guarantees the right to life and health. This has been interpreted to include the state's responsibility to take measures to prevent tobacco consumption to protect public health. This aligns with the government's efforts to balance economic benefits with health costs.

Therefore, statements 1 and 3 are correct, making Option C the right answer.