14th February 2023 Current Affairs Quiz for UPSC Prelims
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Question 1 of 10
1. Question
2 points
11th installment of PM Kisan Samman Nidhi, worth over Rs. 20,000 crores, was recently
transferred to more than 10 crore farmers. In this regard, consider the following statements:
1. It is a central sector scheme with 100 per cent funding from the Government of India.
2. Under the scheme, income support of ₹6,000 per year is provided to all farmers irrespective of their
landholding.
3. The Centre identifies beneficiaries based on the data from Socio-economic Caste Census 2011.
Which of the given statements is/are correct?
Correct
Correct Answer: C
Explanation
Statement 1 &2 are correct and 3 are not correct.
PM Kisan Samman Nidhi
• It is a central sector scheme with 100 per cent funding from the Government of India. The scheme was
launched in December 2018. Hence statement 1 is correct.
• Implemented by the Ministry of Agriculture and Farmers Welfare
• Hence statement 2 is not correct. All land holding eligible farmer families (subject to the prevalent
exclusion criteria) are to avail of the benefits under this scheme, as per the cabinet decision taken during
May 2019. The revised Scheme is expected to cover around 2 crore more farmers, increasing the
coverage of PM-KISAN to around 14.5 crore beneficiaries. Earlier, under the scheme, financial benefit
has been provided to all Small and Marginal landholder farmer families with total cultivable holding upto
2 hectares with a benefit of Rs.6000 per annum per family payable in three equal installments, every
four months.
• The state governments and Union Territory administration identify the farmers who are eligible for the
scheme and share the list with the Centre. Hence statement 3 is not correct.
• The Scheme initially provided income support to all Small and Marginal Farmers’ families across the
country, holding cultivable land upto 2 hectares.
• Its ambit was later expanded w.e.f. 01.06.2019 to cover all farmer families in the country irrespective
of the size of their land holdings.
• Affluent farmers have been excluded from the scheme such as Income Tax payers in last assessment
year, professionals like Doctors, Engineers, Lawyers, Chartered Accountants etc. and pensioners drawing
at least Rs.10,000/- per month (excluding MTS/Class IV/Group D employees).
Incorrect
Question 2 of 10
2. Question
2 points
The Prime Minister has officially inaugurated the country’s first liquid nano urea plant at Kalol,
Gujarat. Consider the following statements regarding the Liquid Nano Urea:
1. It is essentially urea in the form of a nanoparticle.
2. It is sprayed directly on the leaves and gets absorbed by the plant.
3. It has a very short overnight shell life.
Which of the given statements is/are correct
Correct
Correct Answer: C
Explanation
Statements 1 and 2 are correct, 3 is not correct.
Liquid Nano Urea
• It is developed by Indian Farmers Fertilizer Cooperative (IFFCO)’s Nano Biotechnology Research Center
(NBRC) at Kalol.
• It is essentially urea in the form of a nanoparticle. Urea is chemical nitrogen fertilizer, white in colour
which artificially provides nitrogen, a major nutrient required by plants. Hence statement 1 is correct.
• It has been developed to reduce the burden of urea subsidy, reduce the unbalanced and
indiscriminate use of conventional urea, increase crop productivity and reduce soil, water, and air
pollution.
Advantages
• While conventional urea has an efficiency of about 25%, the efficiency of liquid nano urea can be as
high as 85-90%.
• Liquid nano urea is sprayed directly on the leaves and gets absorbed by the plant. Hence statement 2
is correct.
• Liquid nano urea has a shelf life of a year and farmers need not be worried about “caking” when it
comes in contact with moisture. Hence statement 3 is not correct.
Incorrect
Correct Answer: C
Explanation
Statements 1 and 2 are correct, 3 is not correct.
Liquid Nano Urea
• It is developed by Indian Farmers Fertilizer Cooperative (IFFCO)’s Nano Biotechnology Research Center
(NBRC) at Kalol.
• It is essentially urea in the form of a nanoparticle. Urea is chemical nitrogen fertilizer, white in colour
which artificially provides nitrogen, a major nutrient required by plants. Hence statement 1 is correct.
• It has been developed to reduce the burden of urea subsidy, reduce the unbalanced and
indiscriminate use of conventional urea, increase crop productivity and reduce soil, water, and air
pollution.
Advantages
• While conventional urea has an efficiency of about 25%, the efficiency of liquid nano urea can be as
high as 85-90%.
• Liquid nano urea is sprayed directly on the leaves and gets absorbed by the plant. Hence statement 2
is correct.
• Liquid nano urea has a shelf life of a year and farmers need not be worried about “caking” when it
comes in contact with moisture. Hence statement 3 is not correct.
Question 3 of 10
3. Question
2 points
Regarding tax and duties imposed on petrol and diesel, consider the following statements:
1. The Central government revise the retail prices of petrol and diesel in India on a daily basis.
2. The State taxes the production of petroleum products while the Centre tax their sale.
3. While excise duty rates are uniform across the country, states levy sales tax/ Value Added Tax (VAT)
which varies across states.
Which of the given statements is/are not correct?
Correct
Correct Answer: C
Explanation
Statements 1 and 2 are not correct, 3 is correct.
Fuel Pricing in India
• Public sector Oil Marketing Companies (OMCs) revise the retail prices of petrol and diesel in India on a
daily basis, according to the changes in the price of crude oil at global level. Hence statement 1 is not
correct.
• Price charged to dealers includes the base price set by OMCs and the freight price.
• Retail price of petrol and diesel are made up of mainly 3 components1. Base price (reflecting cost of
international oil),
2. Central excise duty
3. State tax
• States apply an ad valorem VAT or sales tax on the base price, freight charges, excise duty and dealer
commission on petrol and diesel.
• In fact, Central and state taxes form a major chunk of the price of petrol and diesel in India.
• Central government taxes the production of petroleum products (Excise Duty) while states tax their
sale (Sales Tax/ Value Added Tax (VAT)). Hence statement 2 is not correct.
• While excise duty rates are uniform across the country, states levy sales tax/ VAT which varies across
states. Hence statement 3 is correct.
Incorrect
Correct Answer: C
Explanation
Statements 1 and 2 are not correct, 3 is correct.
Fuel Pricing in India
• Public sector Oil Marketing Companies (OMCs) revise the retail prices of petrol and diesel in India on a
daily basis, according to the changes in the price of crude oil at global level. Hence statement 1 is not
correct.
• Price charged to dealers includes the base price set by OMCs and the freight price.
• Retail price of petrol and diesel are made up of mainly 3 components1. Base price (reflecting cost of
international oil),
2. Central excise duty
3. State tax
• States apply an ad valorem VAT or sales tax on the base price, freight charges, excise duty and dealer
commission on petrol and diesel.
• In fact, Central and state taxes form a major chunk of the price of petrol and diesel in India.
• Central government taxes the production of petroleum products (Excise Duty) while states tax their
sale (Sales Tax/ Value Added Tax (VAT)). Hence statement 2 is not correct.
• While excise duty rates are uniform across the country, states levy sales tax/ VAT which varies across
states. Hence statement 3 is correct.
Question 4 of 10
4. Question
2 points
The National Open Access Registry (NOAR) sometimes seen in news is related:
Correct
Correct Answer: A
Explanation
Option A is correct. National Open Access Registry (NOAR)
• It is a centralized online platform through which short-term open access to the interstate transmission
system is being managed in India.
• Launched by ➔ Ministry of Power
• National Load Despatch Centre (NLDC) is operated by Power System Operation Corporation Limited
(POSOCO).
Incorrect
Correct Answer: A
Explanation
Option A is correct. National Open Access Registry (NOAR)
• It is a centralized online platform through which short-term open access to the interstate transmission
system is being managed in India.
• Launched by ➔ Ministry of Power
• National Load Despatch Centre (NLDC) is operated by Power System Operation Corporation Limited
(POSOCO).
Question 5 of 10
5. Question
2 points
Consider the following statements regarding ‘Anchor Investors’:
1. They are high-profile institutional investors that are allotted shares before the subscription opens.
2. An anchor investor in an IPO is a qualified institutional buyer (QIB).
3. They make the IPO complicated and less attractive for investors.
Which of the given statements is/are correct?
Correct
Correct Answer: C
Explanation
Anchor Investors
• Anchor investors are high-profile institutional investors that are allotted shares before the subscription
opens for retail and other investors and have to commit to holding their shares for a certain period after
listing. Hence statement 1 is correct.
• An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or
mutual fund or insurance company which invests before the IPO is made available to public as per SEBI
regulations. Hence statement 2 is correct.
• As initial investors, they make the IPO process more attractive for investors, and instil confidence in
them. Hence statement 3 is NOT correct.
• Anchor investors also aid in price discovery of the IPO.
• Anchor investors who get guaranteed allotment a day before the IPO opens to the public are normally
allocated 60% of the QIB quota.
Incorrect
Correct Answer: C
Explanation
Anchor Investors
• Anchor investors are high-profile institutional investors that are allotted shares before the subscription
opens for retail and other investors and have to commit to holding their shares for a certain period after
listing. Hence statement 1 is correct.
• An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or
mutual fund or insurance company which invests before the IPO is made available to public as per SEBI
regulations. Hence statement 2 is correct.
• As initial investors, they make the IPO process more attractive for investors, and instil confidence in
them. Hence statement 3 is NOT correct.
• Anchor investors also aid in price discovery of the IPO.
• Anchor investors who get guaranteed allotment a day before the IPO opens to the public are normally
allocated 60% of the QIB quota.
Question 6 of 10
6. Question
2 points
The PM MITRA Parks Scheme is related to which of the statements sector?
Correct
Correct Answer: B
Explanation
PM MITRA Parks Scheme
• The PM Mega Integrated Textile Regions and Apparel Park (PM MITRA) Parks Scheme is implemented
by the Ministry of Textiles.
• The PM MITRA Parks are aimed at helping India to achieve the UN Sustainable Development Goal 9:
“Build resilient infrastructure, promote sustainable industrialization and foster innovation”.
• The PM MITRA scheme is Inspired by the 5F vision of Prime Minister – Farm to Fibre to Factory to
Fashion to Foreign.
• A park will be developed by a Special Purpose Vehicle which will be owned by the Central and State
Government and in a Public Private Partnership (PPP) Mode.
Incorrect
Correct Answer: B
Explanation
PM MITRA Parks Scheme
• The PM Mega Integrated Textile Regions and Apparel Park (PM MITRA) Parks Scheme is implemented
by the Ministry of Textiles.
• The PM MITRA Parks are aimed at helping India to achieve the UN Sustainable Development Goal 9:
“Build resilient infrastructure, promote sustainable industrialization and foster innovation”.
• The PM MITRA scheme is Inspired by the 5F vision of Prime Minister – Farm to Fibre to Factory to
Fashion to Foreign.
• A park will be developed by a Special Purpose Vehicle which will be owned by the Central and State
Government and in a Public Private Partnership (PPP) Mode.
Question 7 of 10
7. Question
2 points
The International Monetary Fund (IMF) has recently lifted the Chinese currency Yuan’s weighting
in the Special Drawing Rights (SDR) currency basket. In this regard, consider the following statements:
1. The SDR is an interest-bearing international reserve asset created by the IMF to supplement other
reserve assets of member countries.
2. It is based on a basket of international currencies comprising the USD, Japanese yen, euro, pound
sterling and Chinese Renminbi.
3. It is a sort of currency of the IMF.
4. The value of the SDR is market determined.
Which of the given statements is/are correct?
Correct
Correct Answer: B
Explanation
Statements 1 and 2 are correct, 3 and 4 are not correct.
Special Drawing Rights (SDR)
• The SDR is an interest-bearing international reserve asset created by the IMF in 1969 to supplement
other reserve assets of member countries. Hence statement 1 is correct.
• It is based on a basket of international currencies comprising the US dollar, Japanese yen, euro, pound
sterling and Chinese Renminbi. Hence statement 2 is correct.
• It is not a currency, nor a claim on the IMF, but is potentially a claim on freely usable currencies of IMF
members. Hence statement 3 is not correct.
• The value of the SDR is set daily by the IMF. Hence statement 4 is not correct.
Incorrect
Correct Answer: B
Explanation
Statements 1 and 2 are correct, 3 and 4 are not correct.
Special Drawing Rights (SDR)
• The SDR is an interest-bearing international reserve asset created by the IMF in 1969 to supplement
other reserve assets of member countries. Hence statement 1 is correct.
• It is based on a basket of international currencies comprising the US dollar, Japanese yen, euro, pound
sterling and Chinese Renminbi. Hence statement 2 is correct.
• It is not a currency, nor a claim on the IMF, but is potentially a claim on freely usable currencies of IMF
members. Hence statement 3 is not correct.
• The value of the SDR is set daily by the IMF. Hence statement 4 is not correct.
Question 8 of 10
8. Question
2 points
The “Fostering Effective Energy Transition” Report is released by the:
Correct
Correct Answer: D
Explanation
Fostering Effective Energy Transition Report
• It is an annual country benchmarking report by the World Economic Forum (WEF).
• The report builds on the trends from the Energy Transition Index to provide recommendations on how
to navigate the transition through a turbulent macroeconomic and geopolitical environment.
Incorrect
Correct Answer: D
Explanation
Fostering Effective Energy Transition Report
• It is an annual country benchmarking report by the World Economic Forum (WEF).
• The report builds on the trends from the Energy Transition Index to provide recommendations on how
to navigate the transition through a turbulent macroeconomic and geopolitical environment.
Question 9 of 10
9. Question
2 points
India has reached a landmark figure of 100 Unicorn startups with a valuation of more than $300
billion. Consider the following statements regarding the Unicorns:
1. The Unicorns are privately held, venture-capital backed startups that have reached a value of $100
billion.
2. The valuation of unicorns is fully linked to their current financial performance.
Which of the given statements is/are correct?
Correct
Correct Answer: D
Explanation
Both statements are not correct.
Unicorn Startups
• The Unicorns are privately held, venture-capital backed startups that have reached a value of $1
billion.
• The valuation of unicorns is not expressly linked to their current financial performance.
• But the valuation is largely based on their growth potential as perceived by investors and venture
capitalists who have taken part in various funding rounds.
• It was used to emphasise the rarity of the emergence of such startups.
Incorrect
Correct Answer: D
Explanation
Both statements are not correct.
Unicorn Startups
• The Unicorns are privately held, venture-capital backed startups that have reached a value of $1
billion.
• The valuation of unicorns is not expressly linked to their current financial performance.
• But the valuation is largely based on their growth potential as perceived by investors and venture
capitalists who have taken part in various funding rounds.
• It was used to emphasise the rarity of the emergence of such startups.
Question 10 of 10
10. Question
2 points
50% of rural households in India have now been covered under the Jal Jeevan Mission.
Which of the given statements regarding the Jal Jeevan Mission is/are correct?
1. It was launched in 2015.
2. It envisages supply of 55 litres of water per person per day to every rural household through
Functional Household Tap Connections (FHTC) by 2024.
3. It is 100% sponsored by the Centre as envisaged by the Prime Minister.
Which of the given statements is/are correct?
Correct
Correct Answer: A
Explanation
Only statement 2 is correct.
Jal Jeevan Mission
• Launched in 2019, it envisages supply of 55 litres of water per person per day to every rural household
through Functional Household Tap Connections (FHTC) by 2024. Hence statement 1 is not correct and 2
is correct.
• JJM looks to create a jan andolan for water, thereby making it everyone’s priority.
• It comes under Jal Shakti Ministry.
• The fund sharing pattern between the Centre and states is 90:10 for Himalayan and NorthEastern
States, 50:50 for other states, and 100% for Union Territories. Hence statement 3 is not correct.
Incorrect
Correct Answer: A
Explanation
Only statement 2 is correct.
Jal Jeevan Mission
• Launched in 2019, it envisages supply of 55 litres of water per person per day to every rural household
through Functional Household Tap Connections (FHTC) by 2024. Hence statement 1 is not correct and 2
is correct.
• JJM looks to create a jan andolan for water, thereby making it everyone’s priority.
• It comes under Jal Shakti Ministry.
• The fund sharing pattern between the Centre and states is 90:10 for Himalayan and NorthEastern
States, 50:50 for other states, and 100% for Union Territories. Hence statement 3 is not correct.
