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Current Affairs for IAS Prelims Exam 2017: 9 March 2017

Mar 9, 2017 13:12 IST

    Current Affairs Quiz

    The significance of current affairs in IAS Exam has been increased. The IAS aspirants should study the important issues happening around the corner every day. For the convenience of IAS aspirants, we have covered the important issues in our current affairs quiz articles. So, it will be very fruitful to study such current affairs questions for IAS prelims exam 2017.

    Current Affairs for IAS Prelims Exam 2017- 8 March 2017

    1. Recently, a one day conference on India-Poland Bilateral Cooperation in Agriculture & Allied Sectors was held on 8th March 2017. Consider the following statements regarding the India - Poland Bilateral Cooperation in Agriculture & Allied Sectors:
    I. By using Polish technologies to enhance food processing capacity in India could be a win-win formula for companies on both the countries.
    II. Polish food producers use only one third of the amount of fertilizers used elsewhere within the EU.

    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, a one day Conference on India - Poland Bilateral Cooperation in Agriculture & Allied Sectors was held on 8th March 2017, at NASC Complex, Pusa, New Delhi. The conference was attended by Government Officers, Scientists and Industry representatives of both the countries. The conference apprised both sides on the latest developments of their activities in the field of Seed, Horticulture, Animal Husbandry, Plant Protection, Mechanization, food processing and allied agriculture sector. Finally, both the sides reaffirmed their commitment to maintain close contacts through the established channels. Both sides will continue to foster cooperation in priority fields of mutual interest.

    A complete set of Current Affairs Quizzes- February 2017

    2. The Insolvency and Bankruptcy Code, 2016 was recently in news. Consider the following statements regarding the Insolvency and Bankruptcy Code, 2016:
    I. The Insolvency and Bankruptcy Code, 2016 is considered as the biggest economic reform next only to GST.
    II. It offers a market determined, time bound mechanism for orderly resolution of insolvency, wherever possible, and orderly exit, wherever required.
    III. The Code envisages an ecosystem comprising National Company Law Appellate Tribunal (NCLAT), National Company Law Tribunal (NCLT), Debt Recovery Appellate Tribunal (DRAT), Debt Recovery Tribunal (DRT), Insolvency and Bankruptcy Board of India (Board).

    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:

    The Insolvency and Bankruptcy Code, 2016 is considered as the biggest economic reform next only to GST. It offers a market determined, time bound mechanism for orderly resolution of insolvency, wherever possible, and orderly exit, wherever required. The Code envisages an ecosystem comprising National Company Law Appellate Tribunal (NCLAT), National Company Law Tribunal (NCLT), Debt Recovery Appellate Tribunal (DRAT), Debt Recovery Tribunal (DRT), Insolvency and Bankruptcy Board of India (Board), Information Utilities (IUs), Insolvency Professionals (IPs), Insolvency Professional Agencies (IPAs) and Insolvency Professional Entities (IPEs) for implementation of the Code.

    With concerted efforts of all concerned, there has been considerable progress in terms of putting in place some of the key elements of the ecosystem and also operationalisation of provisions relating to corporate insolvency resolution and liquidation. The debtors and creditors alike have commenced transactions under the Code.

    A complete set of Current Affairs Quizzes- January 2017

    3. Recently, the Union Cabinet has approved for settlement of Legacy Food Cash Credit Accounts (upto crop season 2014-15) of which of the following states?
    a. Gujarat
    b. Punjab
    c. Maharashtra
    d. Uttar Pradesh

    Answer: b

    Explanation:

    The Union Cabinet has given its ex-post facto approval for settlement of Legacy Food Cash Credit Accounts (upto crop season 2014-15) of Punjab Government for food procurement operations. This proposal of Department of Expenditure was approved by Prime Minister under Rule 12 of (Transaction of Business) Rules, 1961.

    The early settlement of legacy issues will help the banks in disbursement of food credit in the larger interest of numerous farmers of the State and uninterrupted continuity in food procurement operations to ensure food security for the nation. Settlement of outstanding Cash Credit Limits (CCL) account by availing term loan by the Punjab Government would entail savings in terms of interest payment. This will create additional resource enabling Punjab Government to undertake capital expenditure.

    ECONOMIC SURVEY 2016-17 based important Questions

    4. Punjab Agricultural has developed country's first genetically-modified (BT) varieties of cotton. Consider the following statements regarding this indigenously developed BT- Cotton:
    I. The price of seed of the newly developed (PAU Bt 1 and F 1861) Bt cotton varieties shall much lower as compared to current market price of Bt cotton hybrids seed.
    II. BT-cotton hybrids became popular due to ‘Bt technology’ which imparts resistance to bollworms, which are a major cause of yield loss in cotton.
    III.  Cotton and Bringal are the only genetically-modified seeds that are legally allowed in India.

    Which of the above statements is correct?
    a. I and III
    b. II and III
    c. I and II
    d. All of the above

    Answer: c

    Explanation:

    Punjab Agricultural University in Ludhiana has said that it has developed country's first genetically-modified (Bt) varieties of cotton — the seeds of which could be reused by farmers, resulting in saving the repeated cost they have to bear every season. Indian Council of Agricultural Research (ICAR) has identified three Bt cotton varieties — namely PAU Bt 1, F1861 and RS 2013 — for cultivation in states of Punjab, Haryana and Rajasthan.

    PAU Bt 1 and F 1861 were developed by PAU, whereas, RS 2013 was developed at Rajasthan Agricultural University (RAU), Bikaner. While the PAU Bt 1 was completely developed at Punjab Agricultural University, the F 1861 and RS 2013 varieties were converted to Bt version by Central Institute for Cotton Research (CICR), Nagpur. The entire three varieties carry ''cry1Ac'' gene imparting resistance against bollworm complex.
    Notably, cotton is the only genetically-modified seed that’s legally allowed in India. Punjab alone needs around 20-25 lakh packets of Bt cotton seed for sowing of crop which roughly amounts to around Rs. 225 crores.

    With the new variety, the farmers can keep their own harvest for next sowing season. Bt cotton hybrids became popular due to ‘Bt technology’ which imparts resistance to bollworms, which are a major cause of yield loss in cotton. The price of seed of these Bt cotton varieties shall much lower as compared to current market price of Bt cotton hybrids seed, and thus, there is a scope to reduce the cost of cultivation and increase the savings of the farmers.

    Union Budget 2017 Questions for IAS Exam

    5. Recently, the Joint Army Exercise,” Al Nagah-Ii” was held between India and which country?
    a. Oman
    b. Yemen
    c. Saudi Arabia
    d. Kuwait

    Answer: a

    Explanation:

    The second edition of the Joint Army Exercise,” Al Nagah-Ii” was held between India and Oman recently. The training contingents comprised of platoon strength from both the Armies, which will be validated over 2-3 days by senior military observers of both the countries. The previous edition of the Exercise was held at Muscat, Oman in 2015.

    The aim of this exercise is to acquaint both forces with each other’s operating procedures, improve the interoperability in conducting joint operations in the backdrop of counter insurgency/ counter terrorism environment as also to enhance the existing military relationship between the Indian Army and the Royal Army of Oman.

    Current Affairs Quizzes for IAS Prelims 2017

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