Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams
Date: 03 January 2023
Q1. Consider the following statements regarding the Union Budget in India
1. The Budget Division of the Department of Financial
Services in the Ministry of Finance is responsible for Budget preparation.
2. Modern India’s first ever Union Budget was presented during the Viceroyship
of Lord Canning.
3. Separate Railway Budget was first introduced on the basis of recommendations
of the Acworth Committee.
4. Article 112 mandates the government to present the Macroeconomic Framework
Statement in addition to Annual Financial Statement.
Choose the CORRECT answer using the codes given below:
a) 1, 2 and 3 only
b) 2 and 3 only
c) 1, 3 and 4 only
d) 2, 3 and 4 only
Answer: (B)
Explanation:
- The Budget Division of the Department of Economic Affairs in the Ministry of Finance is the nodal body responsible for preparing the Budget. (Statement-1 is incorrect)
- Modern India’s first ever Union budget was presented in February 1860 by Scotsman James Wilson who was the finance member of the Viceroy's Executive Council of India.
- Lord Canning was the Viceroy at that time. (Statement-2 is correct)
- In 1924 a separate Railway Budget was first introduced on the basis of recommendations of the Acworth Committee. (Statement-3 is correct)
- The Macro-economic Framework Statement is presented to Parliament under Section 3(5) of the Fiscal Responsibility and Budget Management Act, 2003 and not under the Article 112. (Statement-4 is incorrect)
Q2. Consider the following statements regarding Border Surveillance System (BOSS):
1. It is an all-weather electronic surveillance system for
detecting intrusions in harsh high altitude areas.
2. It has been deployed in the Yangtse (Tawang) border area.
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer: (A)
Explanation:
- It is an all-weather electronic surveillance system successfully designed and developed by Instruments Research and Development Establishment (IRDE), Dehradun.
- The system has been deployed at Ladakh border area for day and night surveillance and facilitates monitoring and surveillance by automatically detecting the intrusions in harsh high-altitude sub-zero temperature areas with remote operation capability
Q3. The G2 grouping in news is between which countries?
(a) India China
(b) China-US
(c) Russia China
(d) Russia US
Answer: (B)
Explanation:
- The Group of Two (G-2 or G2) is a proposed informal special relationship between the People's Republic of China and the United States of America.
- Originally initiated in 2005 by C. Fred Bergsten as primarily an economic relationship, it began to gain wider currency and scope from foreign policy experts as a term recognizing the centrality of the Sino-American relations near the beginning of the Obama Administration.
Q4. Consider the following statements with respect to Strategic Petroleum Reserve:
1. It is maintained under the administrative control of the
Ministry of Petroleum and Natural Gas.
2. Presently an emergency fuel store of a total 5.33 MMT is maintained, enough
to provide 15 days of consumption.
Which of the above statement/s is/ are correct?
a) 1 Only
b) 2 Only
c) Both 1 and 2
d) None of the above
Answer: (A)
Explanation:
- Indian Strategic Petroleum Reserves Limited (ISPRL) is an Indian company responsible for maintaining the country's strategic petroleum reserves.
- ISPRL is a wholly owned subsidiary of the Oil Industry Development Board (OIDB), which functions under the administrative control of the Ministry of Petroleum and Natural Gas. Thus, statement 1 is correct.
- ISPRL maintains an emergency fuel store of a total 5.33 MMT (million metric tons) of strategic crude oil, enough to provide 9.5 days of consumption. Thus, statement 2 is incorrect.
- Strategic crude oil storages are at three underground locations in Mangalore, Visakhapatnam and Padur (Udupi, Karnataka).
Q5. Which of the following activities is/are permitted in Eco-Sensitive Zones?
1. Commercial mining
2. Organic farming
3. Tourism activities like hot-air balloons over the National Park
Choose the correct answer using the code given below:
a) 1 and 2 only
b) 2 only
c) 2 and 3 only
d) None of the above
Answer: (B)
Explanation:
- Prohibited activities: Commercial mining, sawmills, industries causing pollution (air, water, soil, noise, etc), the establishment of major hydroelectric projects (HEP), commercial use of wood, Tourism activities like hot-air balloons over the National Park, discharge of effluents or any solid waste or production of hazardous substances.
- Regulated activities: Felling of trees, the establishment of hotels and resorts, commercial use of natural water, erection of electrical cables, drastic change of agriculture system, e.g. adoption of heavy technology, pesticides, etc, widening of roads.
- Permitted activities: Ongoing agricultural or horticultural practices, rainwater harvesting, organic farming, use of renewable energy sources, and adoption of green technology for all activities.
