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Daily-mcqs 25 Jan 2025

Current Affairs MCQs for UPSC & State PSC Exams 25 Jan 2025

Current Affairs MCQs for UPSC & State PSC Exams

Q1:

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

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

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

3.   The PPT mechanism aims to prevent tax avoidance .

Which of the above statements are correct?

A: Only 1

B: Only 2

C: 2 and 3

D: All three

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Answer: C

Explanation:

Statement 1: Incorrect. PPT provisions apply prospectively, not retroactively.

Statement 2: Correct. Grandfathering provisions for Cyprus, Mauritius, and Singapore DTAAs remain outside the PPT’s scope.

Statement 3: Correct. The PPT mechanism ensures tax benefits are not claimed without legitimate economic reasons.

Q2:

Which organizations collaborated on the development of the James Webb Space Telescope (JWST) ?

A: NASA, Russian Space Agency, and Indian Space Research Organisation

B: NASA, the European Space Agency (ESA), and the Canadian Space Agency (CSA)

C: NASA, SpaceX, and the European Space Agency (ESA)

D: NASA, the Japanese Space Agency, and the Canadian Space Agency (CSA)

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Answer: B

Explanation:

The James Webb Space Telescope (JWST) is a next-generation space telescope designed primarily for infrared observations. Developed through a collaboration between NASA, the European Space Agency (ESA), and the Canadian Space Agency (CSA), it serves as the successor to the Hubble Space Telescope.

Q3:

Consider the following statements regarding the Indus Water Treaty (IWT):

1.   The Indus Water Treaty was signed in 1960 between India and Pakistan.

2.   The treaty allocates control of the Eastern Rivers (Beas, Ravi, Sutlej) to Pakistan.

3.   India has unrestricted rights to use the water of the Western Rivers (Indus, Chenab, and Jhelum) for irrigation purposes.

How many of the above statements are correct?

A: Only 1

B: Only 2

C: All three

D: None

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Answer: A

Explanation:

Statement 1 is correct: The Indus Water Treaty was signed in 1960 between India and Pakistan.

Statement 2 is incorrect: The Eastern Rivers (Beas, Ravi, Sutlej) are allocated to India, not Pakistan.

Statement 3 is incorrect: India has limited rights for irrigation use of the Western Rivers, not unrestricted rights.

Q4:

Consider the following statements with reference to features of MGNREGA:

1.   MGNREGA guarantees 100 days of unskilled employment to eligible rural citizens at the government-set minimum wage.

2.   Workers are entitled to an unemployment allowance if work is not provided within 30 days of application.

3.   Social audits are mandated under Section 17 of MGNREGA to ensure transparency.

Which of the above statements is/are correct?

A: Only 1

B: Only 2

C: All three

D: Only 1 and 3

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Answer: D

Explanation:

Statement 1 is correct. MGNREGA guarantees 100 days of unskilled employment to eligible rural citizens.

Statement 2 is incorrect. The unemployment allowance is provided if work is not offered within 15 days of application, not 30 days.

Statement 3 is correct. Social audits are mandated under Section 17 of MGNREGA to promote transparency and accountability.

Q5:

Which of the following statements best describes memecoins?

A: Memecoins are cryptocurrencies backed by real-world assets like gold or property.

B: Memecoins are cryptocurrencies created with no intrinsic value, often inspired by internet memes or pop culture trends.

C: Memecoins are the most stable and widely accepted cryptocurrencies.

D: Memecoins are traditional stocks and bonds traded on the stock market.

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Answer: B

Explanation:

Memecoins are cryptocurrencies that do not have real-world backing or intrinsic value but are often driven by internet culture, memes, and trends. They gain value based on hype and public perception rather than any tangible assets. Examples include Dogecoin, Shiba Inu, and Pepe.