Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams
Date: 12 September 2023
1. Consider the following statements, with reference to Global Biofuels Alliance (GBA):
1. It is an India led initiative by the G20 grouping.
2. India, Britain and the US are the founding members of the alliance.
3. All the members of G20 are members of this alliance.
How many of the statements given above are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (A)
Explanation:
- Recently Global Biofuels Alliance (GBA) was announced at G20 event to develop an alliance of Governments, International organizations and Industry. GBA is an India-led Initiative to develop an alliance of Governments, International organizations and Industry to facilitate adoption of biofuels. Hence, statement 1 is correct.
- India, Brazil and the US are the founding members of the alliance.
The initiative aims to position biofuels as a key to energy transition
and contribute to jobs and economic growth. Hence, statement 2 is
incorrect.
It will facilitate development, adoption and implementation of internationally recognized standards, codes, sustainability principles and regulations to incentivize biofuels adoption. It will help accelerate India’s existing biofuels programs such as PM-JIVANYojna, SATAT and GOBARdhan scheme which will result in:
- Contributing to increased farmers’ income,
- Creating jobs and
- Overall development of the Indian ecosystem.
- 19 countries and 12 international organisations have already agreed to join. GBA Members constitute major producers and consumers of biofuels. Hence, statement 3 is incorrect.
2. Consider the following statements:
1. The G21 grouping includes G20 countries and the African
Union.
2. All the countries in the African Continent are members to the African Union.
Which of the above statements is/are incorrect?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (D)
Explanation: Recently the African Union, which represents 55 countries, was admitted as a new member of the G20, making it G21. The G21 forum includes G20 and African union. The idea was floated in June 2023, when Prime Minister Narendra Modi wrote to G20 leaders to propose that the African Union be given full membership at the upcoming Delhi Summit of G20. It was in the spirit of 'sabka saath' (Everyone's support) that India proposed permanent membership for the African Union in the G20. So far, only one country from the African Union which is South Africa was part of the G20. Hence, both statements are correct.
3. Consider the following statements, with reference to the Sovereign Gold Bond (SGB) Scheme:
1. SGBs are government securities issued on behalf of the
Government of India by the Reserve Bank of India (RBI).
2. SGBs are denominated in grams of gold, with 1 gram serving as the fundamental
unit.
3. Interest on SGBs is not taxable under the terms of the Income Tax Act of
1961.
How many of the statements above are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (B)
Explanation:
- The Reserve Bank of India (RBI) just revealed the issue price for the next Tranche 2 of the Sovereign Gold Bond (SGB). The Government of India created SGBs in 2015 as part of the Gold Monetization Scheme. SGBs are government securities issued on behalf of the Government of India by the Reserve Bank of India. Hence, statement 1 is correct.
- They serve as a substitute for genuine gold. SGBs are denominated in grams of gold, with 1 gram serving as the fundamental unit. Investors must pay the issue price in cash, and the bonds must be redeemed in cash when they mature. Hence, statement 2 is correct.
- The interest on Gold Bonds is taxable according to the rules of the Income Tax Act of 1961. SGBs can be used as loan collateral. Hence, statement 3 is incorrect.
4. Recently, first 'Global Symposium on Farmers' Rights' (GSFR) is going to be held in which country?
(a) USA
(b) India
(c) Bangladesh
(d) Indonesia
Answer: (B)
Explanation: The President of India, Smt Droupadi Murmu will inaugurate the first 'Global Symposium on Farmers' Rights' (GSFR) at the ICAR Convention Centre, National Agricultural Science Centre Complex in New Delhi. India is hosting its first 'Global Symposium on Farmers' Rights' from September 12 to 15, 2023. The Global Symposium on Farmers' Rights promises to be a significant platform for fostering dialogue, recognizing farmers' contributions, and shaping the future of agriculture and food security on a global scale. Hence, option (b) is correct.
5. Consider the following statements regarding Morocco:
1. It is a mountainous country of western North Africa that
lies directly across the Strait of Gibraltar.
2. It is the only African country with coastal exposure to both the Atlantic
Ocean and the Mediterranean Sea.
Which of the above statements is/are incorrect?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (C)
Explanation: It is a mountainous country of western North Africa that lies directly across the Strait of Gibraltar. It retains much of its ancient architecture and even more of its traditional customs. Morocco’s largest city and major Atlantic Ocean port is Casablanca, an industrial and commercial centre. It is the only African country with coastal exposure to both the Atlantic Ocean and the Mediterranean Sea. Hence, both statements are correct.
