Daily Current Affairs (MCQ) | Date 01.04.22

Daily Current Affairs (MCQ) | Date 01.04.22

Daily Current Affairs (MCQ) | Date 01.04.22

Q1. Which of the following factors make the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) relevant to India?

1. The Bay of Bengal is central to the idea of Indo-pacific both in terms of security and economy
2. Connects South Asia with Southeast Asia
3. Crucial for India’s “Act East” and “Neighbourhood First” policies
4. Alternative to nearly failed SAARC
5. The resource-rich region needs connectivity to utilise its economic potential to the fullest

Select the correct answer from the codes given below

a. 1 and 4 only
b. 2, 3, 4 and 5 only
c. 1, 3, 4 and 5 only
d. 1, 2, 3, 4 and 5

Answer : d

Why is the Question ?

Cohesion, co-operation
India must assuage apprehensions of power imbalances among members of the BIMSTEC

Highlights:
1. The adoption of the Charter at the Fifth Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit promises to re-energise the 25-year-old grouping at a time of growing global uncertainties.
2. The Charter is expected to help impart a more connected vision to the seven-member organisation.
3. The Charter, and India’s decision to lead the ‘security pillar’ out of the seven designated pillars of the revived BIMSTEC, has given India’s regional aspirations a new orientation, away from the stalemated SAARC that has been unable to meet since November 2014.
Significance of grouping:
1. The Bay of Bengal is central to the idea of Indo-pacific both in terms of security and economy
2. Connects South Asia with Southeast Asia

3. Crucial for India’s “Act East” and “Neighbourhood First” policies
4. Alternative to nearly failed SAARC
5. The resource-rich region needs connectivity to utilise its economic potential to the fullest
Utility of BIMSTEC for its members:
1. Bangladesh views BIMSTEC as a platform to strengthen its much-needed economic development while Sri Lanka intends to fulfil its aspirations to emerge as a major transhipment hub for the wider Indo-Pacific region.
2. For the two landlocked Himalayan member states, Nepal and Bhutan, BIMSTEC is an opportunity to get access to the Bay of Bengal.
3. For Myanmar and Thailand, connecting more closely with India across the Bay is an opportunity not only to get access to India’s escalating consumer market but also, to address overdependence on China.
4. For India, BIMSTEC may be helpful in achieving two major goals of national development as well as fulfilling its strategic aspiration to cater to the wider concept of the ‘Indo-Pacific’ and an Indian Ocean community.
5. It is a natural platform to fulfil India’s key foreign policy priorities of ‘Neighbourhood First’ and ‘Act East.’

Q2. The Armed Forces (Special) Powers Act (AFSPA) is currently in force in

1. Assam
2. Manipur
3. Nagaland

Select the correct answer from the codes given below

a. 1 and 2 only
b. 1 and 3 only
c. 2 only
d. 1, 2 and 3

Answer : d

Why is the Question ?

Areas under AFSPA regime reduced: Shah
1. The Union Home Ministry has considerably reduced the “disturbed areas” under the Armed Forces (Special) Powers Act (AFSPA) in Assam, Manipur and Nagaland, the Home Minister announced.
2. Reduction in areas under AFSPA is a result of the improved security situation and fast-tracked development... and several agreements to end the insurgency by PM.
3. A Ministry official said, “areas under the AFSPA have been considerably reduced in these three States; it has not been completely removed.”

Q3. Recently the Supreme Court struck down Vanniyar reservation quota given by the state of

a. Kerala
b. Telangana
c. Andhra Pradesh
d. Tamil nadu

Answer : d

Why is the Question ?

SC strikes down T.N. Vanniyar quota
1. The Supreme Court confirmed that the grant of 10.5% internal reservation to the Vanniyakula Kshatriya community violates the fundamental rights of equality, non-discrimination and equal opportunity of 115 other most backward communities (MBCs) and de-notified communities (DNCs) in Tamil Nadu.
2. The Supreme Court held that the 10.5% reservation to a single community from within the total MBC quota of 20% in the State, leaving only 9.5% to 115 other communities, was without “substantial basis”.
3. The Special Reservation Act of 2021, enacted by the AIADMK government in consultation with the Tamil Nadu Backward Classes Commission, scooped 10.5% of the MBC quota for Vanniyakula Kshatriyas alone, citing their “extreme backwardness”.
4. The top court upheld Madras HC’s conclusion that the quota for the community under the 2021 Act was based on “antiquated data”.

Q4. What is the Fast and Secured Transmission of Electronic Records (FASTER) system recently seen in the news?

a. System for electronic delivery of court orders
b. Interbank financial record transmission system

c. India and Russia made a secure bilateral trade record management system
d. A digital proof of environmental clearances

Answer : a

Why is the Question ?

SC goes ‘FASTER’ on delivery of orders
1. Days of endless waiting to get a hard copy of a Supreme Court order is over. Now, all it takes for the court to do is a soft tap of the ‘send’ button and, maybe, a couple of blinks of the eye after, with ‘FASTER’, an abbreviation of ‘Fast and Secured Transmission of Electronic Records’, a digital platform formally launched by Chief Justice of India (CJI) N.V. Ramana.
2. The platform would be used by the court officials to instantly send e-copies of the orders through a secured electronic communication channel to the intended parties. The CJI said FASTER would aid the cause of quick and effortless justice.
3. The idea stemmed from a case in July 2021 last about several prisoners in the Agra Jail forced to remain behind bars for three days after the court granted them bail because the hard copies of the order had not reached the prison officials.

Shocked by the brazen violation of the fundamental rights of personal liberty, life and dignity of the prisoners, the Chief Justice had suo motu taken cognisance of the issue of delay in delivery of court orders.

Q5. Consider the following statements

1. Indian government is targeting to achieve 20 percent of ethanol blending with petrol by 2030
2. Ethanol is biofuel obtained primarily from sugarcane

Which of the above statements is/are correct?

a. 1 only
b. 2 only
c. Both 1 and 2
d. Neither 1 nor 2

Answer : b

Why is the Question ?

Policies of oil marketing firms curbing ethanol output: ISMA

1. The country has enough raw material to produce 1,016 crore litres of ethanol by 2025 for blending with petrol, but policies of oil marketing firms and other factors are curbing the output of the fuel additive, according to industry body ISMA, which made a presentation to Members of Parliament.
2. Indian Sugar Mills Association (ISMA) said about 1,016 crore litres of ethanol were required to achieve the 2025 target of 20% blending, for which the raw material was available, but that there was a need to raise production capacity with mills as well as necessary infrastructure and storage with oil marketing companies (OMCs).
3. Banks were not willing to sanction loans without the inprinciple approval of the Food Ministry nd long-term purchase pacts between OMCs and project proponents.
4. OMCs are not signing long-term agreements with existing ethanol producers and new ethanol plants which are not interested in concessional loans.
5. ISMA said approvals for bank loans should be given within 7 days from the date of application. Else, “the pace of capacity creation will see a major fall, and achieving 20% ethanol production by 2025 will become extremely difficult,” it said.

Q6. Consider the following statements about the external debt of India

1. Long term debt is more than short term debt
2. Commercial borrowings remained the largest component of external debt
3. US dollar-denominated debt remained the largest component of India’s external debt, followed by debt denominated in the Indian rupee
4. The instrument-wise classification shows that loans are the largest component of external debt

Select the correct answer from the codes given below

a. 1, 2 and 3
b. 2, 3 and 4
c. 1, 2 and 4
d. 1, 2, 3 and 4

Answer : d

Why is the Question ?

External debt rose from $11.5 bn to $614.9 bn at the end of Dec.
1. According to India’s Quarterly External Debt Report for the quarter ended December 2021, the country’s external debt was placed at $614.9 billion, recording an increase of $11.5 billion over its level at the end of September 2021. “India’s external debt continues to be sustainable and prudently managed,” it said.
2. The external debt to GDP ratio fell marginally to 20% at the end of December, from 20.3% at the end of September 2021.
3. Valuation gain due to the appreciation of the U.S. dollar vis-avis major currencies such as the Euro, Yen and Special Drawing Rights (SDRs) was placed at $1.7 billion.

4. Commercial borrowings remained the largest component of external debt, with a share of 36.8%, followed by nonresident deposits (23.1%) and short-term trade credit.
5. Also, debt service (principal repayments plus interest payments) increased to 4.9% of current receipts in endDecember 2021 from 4.7% in end-September 2021.