Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams
Date: 28 September 2023
1. With reference to Angel Tax, consider the following statements:
1. Angel tax is levied when a listed company issue shares to
an investor at a price lower than its fair market value.
2. It was imposed only on investments made by a resident investor.
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: (D)
Explanation: Ministry of Finance has notified changes to Rule 11UA of the Income Tax Rules under the Income Tax Act 1961. Rule 11UA is concerned with the valuation of shares for the purpose of levying Angel Tax. Angel tax is levied when an unlisted company issue shares to an investor at a price higher than its fair market value. Earlier, it was imposed only on investments made by a resident investor. But Budget 2023-24 proposed to extend it to non-resident investors from April 1, 2024. Hence, both statements are incorrect.
2. Consider the following statements, with reference to DNA nanoball strategy:
1. It is a technique used to determine the entire genomic
sequence of an organism.
2. The technique can detect viruses when infected people are in pre-symptomatic
period.
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: (C)
Explanation: It is a new platform that uses nucleic acids based diagnostics technique to detect DNA of the pathogens. Through loop-mediated isothermal amplification technology, the approach creates nanoballs out of pathogens' DNA that can then be identified through electrical signalling. The design does not need laboratory techniques to support diagnosis. It is a low-cost technology that can be widely deployed and scalable. Hence, both statements are correct.
3. What is the major objective of the RoDTEP scheme introduced by the Indian government?
(a) To promote imports
(b) To avoid rupee depreciation
(c) To lower export taxes
(d) To encourage domestic consumption
Answer: (C)
Explanation: The government has extended the RoDTEP scheme's export benefits for another year. It was introduced by the government as a duty remission scheme for exports and will go into effect on January 1, 2021. It is introduced as a duty remission scheme on exports. It provides a mechanism for reimbursement of taxes, duties, and levies, which are currently not being refunded under any other mechanism. The scheme will be managed by the Ministry of Finance's Department of Revenue. RODTEP provides a mechanism for reimbursement of taxes, duties, and levies that are currently not refunded under any other mechanism at the central, state, and local levels but are incurred by export entities in the process of manufacturing and distributing exported products. Hence, option (c) is correct.
4. Consider the following statements regarding the Balsams (genus Impatiens):
1. Balsams are commonly referred to as ‘touch-me-not’ due to
the unique behavior of their mature seeds bursting open upon touch and
distributing seeds.
2. Idukki, particularly the high ranges around Anamudi, is often termed as
‘balsam paradise.’
3. It is a species that serves as an indication.
How many of the above statements is/are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (C)
Explanation: Balsams are commonly referred to as ‘touch-me-not’ due to the unique behavior of their mature seeds bursting open upon touch and distributing seeds. Idukki, particularly the high ranges around Anamudi, is renowned for its rich diversity of wild balsams. Scientists often term the district as a ‘balsam paradise.’ Balsams play a crucial role as indicator species for climate change. It is found in the world's tropical, subtropical, and northern temperate zones. Balsams have a regular life cycle that lasts from June to December. Any alterations in the climate of a region are often reflected in the population of these plants. Hence, all statements are correct.
5. Consider the following statements regarding the Advanced Very High-Resolution Radiometer (AVHRR):
1. It is a multi-purpose imaging sensor used to monitor cloud
cover, sea surface temperature, ice, snow, and vegetation cover features on a
worldwide scale.
2. It detects the Earth's emitted radiation using three solar channels in the
visible-near infrared range but lacks thermal infrared channels.
3. The INSAT-1 satellite series lacks an Advanced Very High-Resolution
Radiometer (AVHRR).
How many of the above statements is/are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (A)
Explanation:
- The multi-purpose imaging equipment Advanced Very High-Resolution Radiometer (AVHRR) is utilized for global monitoring of cloud cover, sea surface temperature, ice, snow, and vegetation cover characteristics. Hence, statement 1 is correct.
- It can detect the Earth's outgoing radiation in six channels, three solar channels in the visible-near infrared area, and three thermal infrared channels, with a spatial resolution of 1 km at the nadir. Hence, statement 2 is incorrect.
- The Very High-Resolution Radiometer (VHRR) is a two-channel radiometer that delivers visible and infrared photographs of the Earth. The INSAT-1 satellite series is equipped with an AVHRR that provides images in the visible and thermal infrared spectrums. Hence, statement 3 is incorrect.
