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Current Affairs for IAS Prelims Exam 2017: 23 March 2017

Mar 23, 2017 11:50 IST

Current Affairs QuizRead and practice the current affairs quiz based on the events published by PIB and The Hindu, the most authentic source in terms of IAS preparation. As IAS aspirant must practice such IAS questions with explanation during the preparation of IAS Prelims Exam and IAS Mains Exam.

Current Affairs for IAS Exam- 11th to 17th March 2017

1. Recently, the Union Cabinet has approved certain proposals with regard to the Fund of Funds of Start-ups (FFS). Consider the following statements regarding the Fund of Fund for Start-ups (FFS):
I. The Fund of Funds of Start-ups (FFS) was established in June, 2016 with a corpus of Rs. 1,000 crores.
II. The FFS is being managed and operated by Small Industries Development Bank of India (SIDBI).
III. FFS contributes to SEBI registered Alternative Investment Funds (AIFs) that may go up to a maximum of 35% of the corpus of the AIF concerned.

Which of the following statement(s) is/are correct?
a. Only I
b. I and II
c. II and III
d. All of the above

Answer: d

Explanation:

Recently, the Union Cabinet has approved the proposals with regard to the Fund of Funds of Start-ups (FFS) which was established in June, last year with a corpus of Rs. 1,000 crores.

The Union Cabinet in its meeting held on 22 June 2016 had approved the proposal to establish a Fund of Funds for Start-ups (FFS) with a total corpus of Rs.10000 crore, with contribution spread over the 14th & 15th Finance Commission cycles based on progress of implementation and availability of funds. It was decided that the FFS shall contribute to the corpus of Alternative Investment Funds (AIFs) for investing in equity and equity linked instruments of various start-ups at early stage, seed stage and growth stages.

The FFS is being managed and operated by Small Industries Development Bank of India (SIDBI).  FFS contributes to SEBI registered Alternative Investment Funds (AIFs) that may go up to a maximum of 35% of the corpus of the AIF concerned.

A complete set of Current Affairs Quizzes- February 2017

2. Recently, the Cabinet Committee on Economic Affairs has approved North East Road Network Connectivity Project Phase I for development of 403 kms of National Highways in Meghalaya and Mizoram. Consider the following statements regarding this:
I. Out of 403 km, approximately 52 kms will be in Meghalaya and 351 km in Mizoram and the project will be executed in EPC Mode.
II. The projects will encourage sub-regional socio-economic development by improvement of infrastructure in Meghalaya and Mizoram.

Which of the following statement(s) is/are correct?
a. Only I
b. Only II
c. Both I and II
d. Neither I nor II

Answer: c

Explanation:

Recently, the Cabinet Committee on Economic Affairs has given its approval for development of 403 kms of National Highways in Meghalaya and Mizoram. Out of 403 km, approximately 52 kms will be in Meghalaya and 351 km in Mizoram. The project will be executed in EPC Mode.

The estimated cost is Rs 6,721 crore including cost of land acquisition, resettlement and other pre-construction activities. The projects will be taken up for implementation during the financial year 2017-18. The civil works are expected to be completed by 2021 and maintenance works are expected to be completed by 2025. The projects will encourage sub-regional socio-economic development by improvement of infrastructure in Meghalaya and Mizoram. It will also enhance the connectivity with inter-state roads and International Borders. The works for development to two lane standards are under scheme "North East Road Network Connectivity Project Phase I" with loan assistance of Japan International Cooperation Agency (JICA).

A complete set of Current Affairs Quizzes- January 2017

3. Recently, the Cabinet Committee on Economic Affairs has given its approval for the Minimum Support Price (MSP) for 2017 of which of the following crops:
a. Wheat
b. Copra
c. Maiz
d. Sugarcane

Answer: b

Explanation:

Recently, the Cabinet Committee on Economic Affairs has given its approval for the Minimum Support Price (MSP) for Fair Average Quality (FAQ) of "Milling Copra" to Rs.6500/- per quintal for 2017 season from Rs. 5950/-per quintal in 2016. The MSP for FAQ of "Ball Copra" has been increased to Rs.6785/- per quintal for 2017 season from Rs. 6240/- per quintal in 2016.

The MSP of Copra is expected to ensure appropriate minimum prices to the farmers and step up investment in Coconut cultivation and thereby production and productivity in the country. The approval is based on recommendations of Commission for Agricultural Costs and Prices (CACP). CACP, which is an expert body, takes into account the cost of production, trends in the domestic and international prices of edible oils, overall demand and supply of copra and coconut oil, cost of processing of copra into coconut oil and the likely impact of the recommended MSPs on consumers, while recommending the MSPs.

The National Agricultural Cooperative Marketing Federation of India Limited (NAFED) and National Cooperative Consumer Federation of India Limited (NCCF) would continue to act as Central Nodal Agencies to undertake price support operations at the Minimum Support Prices in the Coconut growing states.

ECONOMIC SURVEY 2016-17

4. Recently, Government of India and Government of France jointly decided on the appointment of the Interim Director General (IDG) of the International Solar Alliance (ISA). Consider the following statements regarding ISA:
I. The International Solar Alliance (ISA) was launched on 30th November, 2015 as a coalition of the solar resource rich countries during the Paris Climate Conference or CoP21.
II. India and France jointly laid the foundation stone of the ISA headquarters and inaugurated the Interim Secretariat of the ISA at the National Institute of Solar Energy (NISE) in Paris, France.

Which of the above statements is correct?
a. Only I
b. Only II
c. I and II
d. None of the above

Answer: a

Explanation:

The International Solar Alliance (ISA) was launched on 30th November, 2015 as a coalition of the solar resource rich countries jointly by Government of India and Government of France in the presence of the Secretary General of the United Nations on the first day of the Paris Climate Conference or CoP21.

ISA’s mission and vision is to provide a dedicated platform for cooperation among solar resource rich countries where the global community including bilateral and multilateral organizations, corporates, industry, and stakeholders can make a positive contribution to assist and help achieve the common goals of increasing use of the solar energy in meeting energy needs of prospective ISA member countries in a safe, convenient, affordable, equitable and sustainable manner.

Last year India and France jointly laid the foundation stone of the ISA headquarters and inaugurated the Interim Secretariat of the ISA at the National Institute of Solar Energy (NISE) in Gwalpahari, Gurugram.

Union Budget 2017 Questions

5. The 2016 Human Development Report has been released recently. Which of the following statements is a measuring dimension regarding the Human Development Index (HDI):
I. Life expectancy of the population
II. Mean years of education among the adult population
III. Expected years of schooling for children of school-entry age
IV. Per-capita Gross National Income (GNI)

Choose the correct codes:
a. I, II and IV
b. I, III and IV
c. II, II and IV
d. All of the above

Answer: d

Explanation:

The Human Development Index is based on assessing progress on three dimensions of human development. First, a long and healthy life measured through life expectancy of the population. Second, access to knowledge measured by mean years of education among the adult population, and access to learning and knowledge measured by expected years of schooling for children of school-entry age. And last, standard of living measured by the country’s per-capita gross national income (GNI).

The 2016 Human Development Report has been released by the UNDP. HDI is also released as part of the report. India slipped down one place from 130 to 131 among the 188 countries in the report. Moreover, India’s human development index (HDI) value of 0.624 puts it in the “medium human development” category, alongside countries such as Congo, Namibia and Pakistan.

Current Affairs Quizzes for IAS Prelims 2017

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