INSIGHTS CURRENT AFFAIRS ( 3 July 2021) REVISION THROUGH MCQS – INSIGHTSIAS

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Puucho CURRENT Affairs RTM – 2020

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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.

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Question 1 of 10

1 points

The ‘freight smart cities’ is a flagship initiative set up by the:
Correct

Ans: (a)

Explanation:
- The commerce and industry Ministry’s Logistics Division unveils plans for ‘Freight Smart Cities’.
- Under the freight smart cities initiative, city-level logistics committees would be formed and they will have related government departments and agencies at the local and state levels
Refer: https://www.insightsonindia.com/2021/07/03/freight-smart-cities/
Incorrect

Ans: (a)

Explanation:
- The commerce and industry Ministry’s Logistics Division unveils plans for ‘Freight Smart Cities’.
- Under the freight smart cities initiative, city-level logistics committees would be formed and they will have related government departments and agencies at the local and state levels
Refer: https://www.insightsonindia.com/2021/07/03/freight-smart-cities/
Question 2 of 10

1 points
Consider the following statements about heat dome:
1. 1. It is a reversal of the normal behavior of temperature in the troposphere.
  2. It prevents clouds from being formed.
Which of the given above statements is/are correct?
Question 3 of 10

1 points
Consider the following statements about President’s Rule in the Indian context:
1. 1. It is also known as ‘National Emergency’.
  2. Upon the imposition of this rule, there would be no Council of Ministers.
  3. A proclamation of President’s Rule may be revoked by the President at any time by a subsequent proclamation.
Which of the given above statements is/are correct?
Correct

Ans: (c)

Explanation:
- S1: It is also known as ‘State Emergency’ or ‘Constitutional Emergency’.
- S2: Upon the imposition of this rule, there would be no Council of Ministers.
- S3: A proclamation of President’s Rule may be revoked by the President at any time by a subsequent proclamation. Such a proclamation does not require parliamentary approval.
Refer: https://www.insightsonindia.com/2021/07/03/presidents-rule/
Incorrect
Ans: (c)

Explanation:

S1: It is also known as ‘State Emergency’ or ‘Constitutional Emergency’.

S2: Upon the imposition of this rule, there would be no Council of Ministers.

S3: A proclamation of President’s Rule may be revoked by the President at any time by a subsequent proclamation. Such a proclamation does not require parliamentary approval.

Refer: https://www.insightsonindia.com/2021/07/03/presidents-rule/
Question 4 of 10

1 points

In which one of the following groups are all the four countries members of G20?
Correct

Ans: (a)

Explanation:
- The members of the G20 are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union.
Refer: https://www.insightsonindia.com/2021/07/03/oecd-g20-inclusive-framework-tax-deal/
Incorrect

Ans: (a)

Explanation:
- The members of the G20 are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union.
Refer: https://www.insightsonindia.com/2021/07/03/oecd-g20-inclusive-framework-tax-deal/
Question 5 of 10

1 points
Consider the following statements about the Organisation for Economic Co-operation and Development (OECD):
1. 1. It is an international organisation that works to build better policies for better lives.
  2. It is funded by contributions from member countries at varying rates.
  3. It is headquartered in Frankfurt, Germany.
Which of the given above statements is/are correct?
Correct

Ans: (c)

Explanation:
- The OECD is an intergovernmental economic organisation, founded in 1961 to stimulate economic progress and world trade.
- The OECD’s headquarters are at the Château de la Muette in Paris, France.
- The OECD is funded by contributions from member countries at varying rates and had a total budget of €386 million in 2019.
Refer: https://www.insightsonindia.com/2021/07/03/oecd-g20-inclusive-framework-tax-deal/
Incorrect

Ans: (c)

Explanation:
- The OECD is an intergovernmental economic organisation, founded in 1961 to stimulate economic progress and world trade.
- The OECD’s headquarters are at the Château de la Muette in Paris, France.
- The OECD is funded by contributions from member countries at varying rates and had a total budget of €386 million in 2019.
Refer: https://www.insightsonindia.com/2021/07/03/oecd-g20-inclusive-framework-tax-deal/
Question 6 of 10

1 points

The term ‘Base Erosion and Profit Shifting’ is sometimes seen in the news in the context of
Correct

Ans: (b)

Explanation:
- Base erosion and profit shifting (BEPS) refers to tax planning strategies used by multinational enterprises that exploit gaps and mismatches in tax rules to avoid paying tax.
- Developing countries’ higher reliance on corporate income tax means they suffer from BEPS disproportionately.
- BEPS practices cost countries USD 100-240 billion in lost revenue annually.
Refer: https://www.insightsonindia.com/2021/07/03/oecd-g20-inclusive-framework-tax-deal/
Incorrect

Ans: (b)

Explanation:
- Base erosion and profit shifting (BEPS) refers to tax planning strategies used by multinational enterprises that exploit gaps and mismatches in tax rules to avoid paying tax.
- Developing countries’ higher reliance on corporate income tax means they suffer from BEPS disproportionately.
- BEPS practices cost countries USD 100-240 billion in lost revenue annually.
Refer: https://www.insightsonindia.com/2021/07/03/oecd-g20-inclusive-framework-tax-deal/
Question 7 of 10

1 points
Consider the following statements about Pradhan Mantri Fasal Bima Yojana:
1. 1. It covers all Food and Oilseeds crops for which past yield data is available.
  2. It is implemented by the concerned State Governments/UTs.
Which of the given above statements is/are correct?
Correct

Ans: (a)

Explanation:
- S1: The Scheme covers all Food & Oilseeds crops and Annual Commercial/Horticultural Crops for which past yield data is available and for which requisite number of Crop Cutting Experiments (CCEs) are conductedbeing under General Crop Estimation Survey (GCES).
- S2: The scheme is implemented by empaneled general insurance companies. Selection of Implementing Agency (IA) is done by the concerned State Government through bidding.
Refer: https://www.insightsonindia.com/2021/07/03/crop-insurance-week/
Incorrect

Ans: (a)

Explanation:
- S1: The Scheme covers all Food & Oilseeds crops and Annual Commercial/Horticultural Crops for which past yield data is available and for which requisite number of Crop Cutting Experiments (CCEs) are conductedbeing under General Crop Estimation Survey (GCES).
- S2: The scheme is implemented by empaneled general insurance companies. Selection of Implementing Agency (IA) is done by the concerned State Government through bidding.
Refer: https://www.insightsonindia.com/2021/07/03/crop-insurance-week/
Question 8 of 10

1 points

In India, every year July 1 is observed as National Doctors’ Day in the memory of:
Correct

Ans: (d)

Explanation:
- July 1 is observed as National Doctors’ Day in the memory of Dr Bidhan Chandra Roy, who had his birth and death anniversary on the same day.
- Dr Roy, former Chief Minister of Bengal, was known for his selfless service.
- He played a great role in establishing many medical institutions.
- He was also referred to as the first medical consultant in the subcontinent of India.
- He was also awarded the Bharat Ratna in 1961.
Refer: facts for prelims: https://www.insightsonindia.com/2021/07/03/insights-daily-current-affairs-pib-summary-3-july-2021/
Incorrect
Ans: (d)

Explanation:

July 1 is observed as National Doctors’ Day in the memory of Dr Bidhan Chandra Roy, who had his birth and death anniversary on the same day.

Dr Roy, former Chief Minister of Bengal, was known for his selfless service.

He played a great role in establishing many medical institutions.

He was also referred to as the first medical consultant in the subcontinent of India.

He was also awarded the Bharat Ratna in 1961.

Refer: facts for prelims: https://www.insightsonindia.com/2021/07/03/insights-daily-current-affairs-pib-summary-3-july-2021/
Question 9 of 10

1 points
Consider the following statements :
1. 1. New Development Bank has been set up by APEC.
  2. The headquarters of New Development Bank is in Shanghai.
Which of the statements given above is/are correct?
Correct

Ans: (b)

Explanation:
- It was created by BRICS in 2014 and headquartered in Shanghai, China.
Refer: UPSC CSE 2016
Incorrect

Ans: (b)

Explanation:
- It was created by BRICS in 2014 and headquartered in Shanghai, China.
Refer: UPSC CSE 2016
Question 10 of 10

1 points

Which of the following is not a member of ‘Gulf Cooperation Council’?

Correct

Ans: (a)

Explanation:

Refer: UPSC CSE 2016

Incorrect

Ans: (a)

Explanation:

Refer: UPSC CSE 2016

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Puucho CURRENT Affairs RTM – 2020

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