Daily Current Affairs MCQ: 24th July 2024 - UPSC MCQ

Statement-I correctly describes the structure of the Union Budget, which includes the Consolidated Fund, Contingency Fund, and Public Account. This division is essential for financial transparency and accountability. Statement-II accurately summarizes the key highlights of the Union Budget 2024-2025, focusing on specific groups and key areas like employment, skilling, and support for the middle class. The emphasis on these aspects aligns with the content discussed in the source material about the Union Budget priorities for the specified financial year.

• Statement 1 is correct. The allocation for the Department of Health and Family Welfare in the Budget 2024 has indeed increased by ₹1,500 crore.
• Statement 2 is incorrect. Although the allocation for the POSHAN Scheme in the Budget 2024-25 is ₹12,467 crore, it is still less than the actual expenditure in 2022-23.
• Statement 3 is correct. The allocation for the Saksham Anganwadi Scheme has increased to ₹21,200 crore from ₹20,554 crore, but there has been no increase in the salaries for Anganwadi workers or the honorarium for mid-day meal cooks.

Thus, the correct statements are 1 and 3 only. Therefore, the answer is Option B: 1 and 3 Only.

1. Statement 1: The 2023-24 Economic Survey indeed projects GDP growth at 6.5%-7% for FY 2024-25 despite achieving 8% growth in FY 2023-24. This reflects a realistic approach to future economic conditions considering various challenges.

2. Statement 2: The Survey highlights inadequate infrastructure, such as roads, railways, and sanitation, as a significant hindrance to economic development and efficiency. This is a well-documented issue affecting productivity and growth.

3. Statement 3: The Economic Survey emphasizes the crucial role of the private sector in job creation, asserting that it is in the corporate sector's enlightened self-interest to assume this responsibility for sustained economic growth and dynamism.

All three statements correctly reflect the key points discussed in the 2023-24 Economic Survey. Therefore, the correct answer is Option D.

The Prime Minister's package of 5 schemes and initiatives announced in the Union Budget 2024-2025 primarily focuses on facilitating employment, skilling, and other opportunities for 4.1 crore youth over a 5-year period. This initiative aims to enhance the employment prospects and skill development of the youth, aligning with the government's emphasis on empowering the younger population for a more productive future.

Statement-I accurately describes the purpose of the Angel Tax in India, which is to prevent the misuse of capital inflows for illicit purposes such as money laundering. Statement-II correctly outlines the general practice of angel investors, who provide personal funds to startups in exchange for equity, with a focus on high-risk, high-reward investments. In this context, Statement-II logically explains the rationale behind the Angel Tax described in Statement-I, as it highlights the nature of investments that the tax aims to regulate and monitor. Hence, both statements are correct, and Statement-II provides an explanation for Statement-I.

Lokmanya Tilak was a staunch advocate for complete independence and self-rule in the Indian freedom movement. He famously popularized the slogan "Swaraj is my birthright and I shall have it!" and emphasized the need for India to govern itself without British intervention. Tilak's ideologies and actions played a significant role in inspiring the nationalist movement against colonial rule in India.

Statement-I correctly describes the Vishnupad Temple at Gaya, highlighting its dedication to Lord Vishnu and the presence of Lord Vishnu's footprint for "Pind Daan" rituals. Statement-II accurately depicts the Mahabodhi Temple Complex in Bodh Gaya, emphasizing its significance as the place of Buddha's enlightenment and its UNESCO World Heritage Site status. Statement-II explains the historical and cultural importance of the Mahabodhi Temple, complementing the description of the Vishnupad Temple in Statement-I. Therefore, both statements are correct, with Statement-II providing additional contextual information that aligns well with Statement-I.

The main aim of creating a Climate Finance Taxonomy is to diminish the risks associated with greenwashing in financial investments. By providing clear criteria and guidelines, this classification system ensures that investments labeled as sustainable are genuinely aligned with climate adaptation and mitigation goals, thereby reducing the chances of misleading or deceptive practices in the financial sector.

Both Statement-I and Statement-II are factually correct. Chandrashekhar Azad, born in Bardarka, Uttar Pradesh, was indeed a significant leader of the Hindustan Socialist Republican Association (HSRA). On the other hand, Lokmanya Tilak, a pivotal figure in the Indian freedom movement, staunchly advocated for self-rule with his famous proclamation, "Swaraj is my birthright and I shall have it!" Furthermore, Tilak's role in promoting cultural and religious revival, along with his contributions to the Swadeshi movement, are well-documented in Indian history. Therefore, Statement-II elucidates the context of both leaders accurately, making Option A the correct choice.

1. Weak Demand: High interest rates in developed countries increase the cost and opportunity cost of investment in India.

- Correctly matched. The statement accurately reflects that high interest rates in developed countries can make investment in India less appealing due to higher costs and opportunity costs.

2. Dependence on China: Over-reliance on China for exports in key sectors like renewable energy.

- Incorrectly matched. The issue is India's over-reliance on China for *imports*, not exports, particularly in key sectors like renewable energy.

3. Tepid Private Investment: Despite tax cuts, the corporate sector has not significantly increased investment.

- Correctly matched. This statement correctly identifies that despite tax cuts aimed at stimulating capital formation, private sector investments have not risen significantly.

4. Employment Challenges: The need to generate approximately 78.5 lakh jobs annually in the non-farm sector until 2030.

- Correctly matched. This accurately reflects the challenge of creating sufficient jobs to accommodate the growing workforce in the non-farm sector.

Thus, three pairs are correctly matched.