Daily Current Affairs (MCQ) | Date 19.04.22

Q1. Consider the following statements with regard to Education in India

1. Education is in the concurrent list
2. States can not frame their own education policy and have follow National Education Policy 2020 only

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 : a

Why is the Question ?

Consensus key for education
Fulfilling local needs will make policy more meaningful Need for State education policy
1. Tamil Nadu constituting a committee to draft its own State education policy may be construed as a challenge to the national education policy, though it may actually do good for States to draft their education policy.
2. It may guide them to give effect to the national educational policy in a considered, well thought out manner.
3. State, district, block and even village level policies could enable a more meaningful implementation of the national policy as it may lead to a policy stack that serves the goals of national growth grounded in the local contexts.
4. The aspirational districts' programmes show the possibilities of local meshing with the whole.
Supplementing each other
1. There will inevitably be differences between the education policies devised for the nation, a State, a district and a school since each level has a distinct purpose.
2. There will always be regional priorities and constraints compelling the States to serve education in a different way. This only means that the national and state policies need to supplement each other.
3. Education is in the concurrent list since 1976 and is a joint and shared responsibility of the Union and the State governments.
4. Coordination and maintenance of standards may vest in the Union government, but it applies to higher education only. Education policy, on the other hand, deals with all levels of
education.
Policy engagement is an essential part of its implementation. It may be wise to mitigate the trust deficit, made evident by recent statements, between the Union and the States in key areas such as education. If some States feel they are falling behind, this is an opportunity to move forward for better quality education.

Q2. Consider the following statements with regard to Wholesale Price Inflation (WPI)

1. In the last 12 months wholesale inflation has exceeded 10% every time
2. Fuel and power inflation is major reason behind this
3. The WPI is released by the Office of Economic Adviser

Which of the above is/are correct?

a. 1 and 2 only
b. 2 and 3 only
c. 1 and 3 only
d. 1, 2 and 3

Answer : d

Why is the Question ?

Wholesale price inflation climbs to 14.55% in March

1. Inflation in India’s wholesale prices hit a four-month high of 14.55% in March, from 13.11% in February, driven by accelerating price rise across all categories of goods, with fuel and power as well as primary articles driving most of the gains.
2. This is the 12th month in a row that wholesale inflation has exceeded 10%. Fuel and power inflation surged to a three-month high of 34.5% in March, from 31.5% in February, while inflation in primary articles accelerated to 15.54% from 13.39%.
3. Wholesale price inflation, which was at 7.89% in March 2021, had hit a record high of 14.9% in November and was at 14.3% in December. It had eased below the 14% mark in January and February.
4. While retail inflation had hit a 17-month high of 6.95% in March, largely due to higher food prices.
5. The high inflation was attributed “primarily to rise in prices of crude petroleum and natural gas, mineral oils, basic metals, etc.owing to disruption in the global supply chain caused by RussiaUkraine conflict.

Q3. Consider the following statements with regard to Wholesale Price Inflation (WPI)

1. WPI captures the average movement of wholesale prices of goods and is primarily used as a GDP deflator
2. WPI reckons only basic prices and does not include taxes, rebate/trade discounts, transport and other charges

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

Why is the Question ?

The new series of Wholesale Price Index(WPI) with base 2011-12 is effective from April 2017. Data for WPI(2011-12) has however been provided from April 2012 to March 2017 for the purpose of research and analysis only. Linking factor given for conversion of WPI(2011-12) indices to WPI(2004-05) series should be used from April 2017 onwards.
WPI captures the average movement of wholesale prices of goods and is primarily used as a GDP deflator. WPI(2011-12) reckons only basic prices and does not include taxes, rebate/trade discounts, transport and other charges.

Q4. Consider the following statements with regard to Wheat production and export by India.

1. India is largest exporter of Wheat
2. Extreme dry and hot weather prior to wheat harvest causes a condition known as terminal-heat stress, which wilts crops
3. Heatwave conditions affect both quality and weight of wheat output

Which of the above is/are correct?

a. 1 and 2 only
b. 2 and 3 only
c. 1 and 3 only
d. 1, 2 and 3

Answer : b

Why is the Question ?

Heatwaves hit wheat yields, exports at risk
1. Hot weather across north India has cut wheat yields at a time when the country is counting on a bumper crop to tap an export market left struggling with a gap in supply due to the Ukraine war, farmers and traders said.
2. The main winter staple is currently being harvested in major grain-bowl states of Punjab, Haryana, Uttar Pradesh, Rajasthan and Madhya Pradesh. Cultivators said their per-acre yields (one acre equals 0.40 hectare) have fallen 10-15%.
3. Heatwave conditions in March, when the crop was in the advanced ripening stage, shrivelled grains, affecting both quality and weight of output, farmers said.
4. Extreme dry and hot weather prior to wheat harvest causes a condition known as terminal-heat stress, which wilts crops. Such a weather pattern last occurred in 2010, when wheat yields dropped 26% in Punjab, according to data from the Ludhianabased Borlaug Institute.

Russia and Ukraine together comprise 25 per cent of the world's wheat exports. Although India is the second-largest wheat producer in the world, it accounts for less than 1 per cent of the global export of wheat. And now due to the ongoing war in Ukraine, and the subsequent disruption in the market there, India could step in to fill the gap.

Q5. Which of the following statements is correct?

a. Non-fungible tokens (NFTs) are non-fungible and intangible asset class
b. While NFTs are based on quantum encryption, bitcoin is based on the blockchain technology
c. NFTs are now legal in India while there is no clarity on Bitcoins
d. NFTs sell and transfer would attract 50% tax in India

Answer : a

Why is the Question ?

Govt weighs NFT nod to legalise digital assets
1. The government is considering legally allowing some blockchainbased uses such as NFTs as it could legalise some virtual digital assets (VDAs), while possibly outlawing the use of the more popular blockchain tech that is cryptocurrencies, people aware of the matter said, citing a risk to financial stability from the latter that can be used as an illegitimate payment system.
2. At present, cryptocurrencies such as Bitcoin and Ether and digital assets like non-fungible tokens (NFTs) exist in a legal grey area, although gains on the selling of these are taxed at a flat 30% rate.

Virtual digital assets (VDAs) and Metaverse:
1. To be sure, the only broad umbrella that can be applied to cryptocurrencies, as well as digital assets, is the blockchain technology on which these are based.
2. A blockchain is a distributed ledger of records that enables the creation of digital money, art collections and virtual land-owning. Almost all of these are considered crucial constituents for the vision of the so-called Metaverse, a virtual reality construct accessed via more immersive hardware like special goggles.
3. Legal recognition of digital assets such as NFTs will likely be crucial for allowing the Metaverse plans of multiple tech giants, including Meta (formerly Facebook). Experts have mixed views on the steps the government is considering.

Inherent and unique characteristics
1. Crypto-assets have several inherent and unique characteristics that pose challenges for policymakers.
2. These challenges arise due to their lack of centralised control, pseudo-anonymity, valuation difficulties, hybrid characteristics including both aspects of financial instruments and intangible assets, and the rapid evolution of the underpinning technology and the form of these assets.
3. Any move to regulate the entire circulation of these virtual assets is welcomed, however, it should factor in the number of people involved in the trade, its potential contribution to the Indian economy and aligning us with the digitally advancing global world.

Q6. Consider the following statements with regard to Asbestos

1. Currently, no asbestos mine is functional in the country
2. It can cause asbestosis and cancer of the Lung or the stomach
3. India has banned the mining of asbestos but continues to import it
4. Asbestos is a mineral used for insulation in buildings, and to make roofing tiles, water supply lines, and fire blankets
5. It is also used in clutches and brake linings, gaskets, and pads for automobiles

Select the correct answer from the codes given below

a. 1 and 4 only
b. 1, 3 and 4 only

c. 2, 3 and 4 only
d. 1, 2, 3, 4 and 5

Answer : d

Why is the Question ?

The ghost of asbestos mining continues to haunt this tribal village in Jharkhand
1. Many elderly people in Roro village of Jharkhand have breathing disorders and other lung-related ailments. They allege that these are the after-effects of asbestos mining, which was stopped in the region almost four decades ago.
2. Asbestos mining is now banned in India but experts note that authorities failed to ensure scientific reclamation of the mine, leaving the local communities exposed to it.
3. In 2019, the National Green Tribunal (NGT) asked the Jharkhand government to ensure the scientific removal of the dumped asbestos from such areas.