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Daily-mcqs 24 Jan 2025

Current Affairs MCQs for UPSC & State PSC Exams 24 Jan 2025

Current Affairs MCQs for UPSC & State PSC Exams

Q1:

Consider the following statements regarding the Geographical Indication (GI) tag:

1.   A Geographical Indication (GI) tag ensures legal protection and exclusive rights to use the tag for approved users only.

2.   GI tags in India are governed by the Geographical Indications of Goods (Registration and Protection) Act, 1999, and are aligned with the World Trade Organization's (WTO) TRIPS agreement.

3.   A GI tag is valid for a period of 20 years.

How many of the above statements are correct?

A: Only 1

B: Only 2

C: All three

D: None

Show

Answer: B

Explanation:

Statement 1 is correct. GI tag holders receive legal protection and exclusive rights to use the tag for approved users only.

Statement 2 is correct. GI tags are governed by the Geographical Indications of Goods (Registration and Protection) Act, 1999 in India and are aligned with the WTO's TRIPS agreement.

Statement 3 is incorrect. GI tags remain valid for 10 years, not 20 years.

Q2:

Consider the following statements regarding Geographical Indication (GI) tags:

1.   A Geographical Indication (GI) tag must be renewed every year.

2.   GI tags help protect the quality and reputation of products linked to specific geographical locations.

3.   India has a total of 605 GI tags issued as of now, with a target of 10,000 GI tags by 2030.

Which of the above statements are correct?

A: Only 1

B: Only 2

C: 2 and 3

D: All three

Show

Answer: C

Explanation:

Statement 1 is incorrect. A GI tag is valid for 10 years, and can be renewed after that.

Statement 2 is correct. GI tags are specifically meant to protect products that have a unique quality or reputation tied to their geographical origin.

Statement 3 is correct. India has issued 605 GI tags so far, and the target of issuing 10,000 GI tags by 2030 was announced by the Commerce Minister Piyush Goyal.

Q3:

What is the main objective of the One Nation, One Legislative Platform initiative?

A: To unite all political parties under one platform

B: To bring all legislative bodies of India onto a single digital platform

C: To make legislative bodies more independent

D: To reduce the number of legislative bodies in India

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Answer: B

Explanation:

The One Nation, One Legislative Platform is aimed at unifying all legislative bodies of India—such as Parliament, state legislatures, and local bodies—on a single digital platform to enhance governance and public engagement.

Q4:

Consider the following statements with reference to the Minimum Support Price (MSP) for raw jute:

1.   The Union Cabinet has approved MSP for raw jute for the 2025-26 marketing season to Rs 5,650 per quintal.

2.   The MSP for raw jute has increased by 2.35 times since the 2014-15 marketing season.

3.   The government is legally obligated to purchase jute at the announced MSP.

How many statements are correct?

A: Only 1

B: Only 2

C: All three

D: None

Show

Answer: B

Explanation:

Statement 1 is correct. The Union Cabinet has raised the MSP for raw jute to Rs 5,650 per quintal for the 2025-26 marketing season, reflecting a Rs 315 increase from the previous year's MSP.

Statement 2 is correct. The MSP for raw jute has indeed increased by 2.35 times since 2014-15.

Statement 3 is incorrect. While the government does provide a price guarantee through MSP, there is no legal obligation to procure the jute at the announced MSP.

Q5:

Consider the following statements regarding the new guidelines on Double Tax Avoidance Agreements (DTAAs):

1.   Under the new guideline, The Principal Purpose Test (PPT) provisions will apply retrospectively to all existing transactions under tax treaties.

2.   The grandfathering provisions in the DTAAs with Cyprus, Mauritius, and Singapore will be exempted from the newly issued PPT provisions.

3.   The PPT mechanism is aimed at preventing tax avoidance by companies

Which of the above statements are correct?

A: Only 1

B: Only 2

C: 2 and 3

D: All three

Show

Answer: C

Explanation:

Statement 1 is incorrect. The PPT provisions will apply prospectively and will not be applied to transactions already carried out before the new guidelines were issued.

Statement 2 is correct. The grandfathering provisions in the DTAAs with Cyprus, Mauritius, and Singapore will remain outside the purview of the new PPT provisions, meaning these existing commitments will not be affected.

Statement 3 is correct. The PPT is a tax treaty mechanism used to deny benefits to transactions where the primary motivation is to obtain a tax advantage through treaty rather than for a legitimate business purpose.