Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams
Date: 10 February 2023
Q1. Consider the following Statements Infrastructure Finance Secretariat.
1. The Infrastructure Finance Secretariat will be key to
assisting all stakeholders for more private investment in infrastructure,
including railways, roads, urban infrastructure and power.
2. It will be a part of the department of Financial service with the financial
service secretary as its head.
Select the correct Statement(s) using the code given below.
a) 1 only
b) 2 only
c) 1 and 2 only
d) Neither 1 nor 2
Answer: (A)
Explanation:
- The newly-established Infrastructure Finance Secretariat will be key to assisting all stakeholders for more private investment in infrastructure, including railways, roads, urban infrastructure and power, which are predominantly dependent on public resources.
- Therefore, statement 1 is correct.
- It will be a part of the Department of Economic affairs (not Department of Financial Service) with the economic affairs secretary as its head.
- Thus, statement 2 is NOT correct.
Q2. Consider the following statements: (UPSC Prelims 2017)
1. The Factories Act, 1881 was passed with a view to fix the
wages of industrial workers and to allow the workers to form trade unions.
2. M. Lokhande was a pioneer in organizing the labour movement in British India.
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)
Explanation:
- The first Factory Act in 1881 prohibited the employment of children under the age of seven, limited the number of working hours for children below the age of twelve and required that dangerous machinery should be fenced properly. The Act also made provision for one hour of rest during the working period and four days leave in a month for the workers. Inspectors were appointed to supervise the implementation of these measures. Hence there is no provision for fixed wages and the formation of trade unions. So, statement 1 is incorrect.
- Narayan Meghaji Lokhande was a pioneer of the labour movement in India. He is remembered not only for ameliorating the working conditions of textile mill hands in the 19th century but also for his courageous initiatives on caste and communal issues. So, statement 2 is correct.
Q3. Which of the following statements is/are correct about free trade agreements?
a) Free trade agreements only reduce tariffs on imported
goods.
b) Free trade agreements increase barriers to trade between countries.
c) Free trade agreements reduce barriers to trade between countries.
d) Free trade agreements only apply to goods, not services.
Answer: (C)
Explanation:
- A free trade agreement is a pact between two or more countries that reduces barriers to trade, such as tariffs on imported goods, quotas on the amount of goods that can be imported, and other trade restrictions.
- The goal is to increase trade flows and boost economic growth by making it easier for goods and services to cross borders.
- Thus, statement C is correct and the other statements are incorrect.
- Free trade agreements can reduce tariffs and other trade barriers for both goods and services, and their aim is not to increase trade barriers but to reduce them.
Q4. Which of the following countries are part of the Nordic region:
1. Denmark
2. Finland
3. Iceland
4. Norway and Sweden
5. Faroe Islands
6. Greenland.
Choose the correct option:
a) 1, 2 and 3 only
b) 1, 2, 3 and 4 only
c) 2, 3, 4, and 6 only
d) All of the above
Answer: (D)
Explanation:
- The Nordic sub-region consists of Denmark, Finland, Iceland, Norway and Sweden; the autonomous territories of the Faroe Islands and Greenland.
- These states are widely considered to form a distinctive region by virtue of their strong historical ties and the tradition of inter-governmental cooperation across national boundaries.
Hence, option is the correct answer.
Q5. Consider the Following Statements:
1. Russia has fulfilled over 46% of India’s defence needs in
the last five years.
2. America is one of the few countries with which India has a trade surplus.
Which of the above statements is/are Not correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer: (D)
Explanation:
- America is one of the few countries with which India has a trade surplus. Statement 1 is correct
- In 2021-22, India had a trade surplus of USD 32.8 billion with the US.
- Russia has been the most preferred source for India’s defence purchases since at least the 2000s.
- The exception was 2021 when France replaced Russia as India’s primary source.
- Despite this deviation, Russia has fulfilled over 46% of India’s defence needs in the last five years. Statement 2 is correct. Hence option D is correct.
