06 SEPTEMBER CURRENT AFFAIRS

Q1. Consider the following statements1. India is the net exporter of Agriculture products since 1991 Reforms.

2. India is the largest exporter of Agri-products in world.
3. India is the largest producer of horticulture crops in world.
   Select the correct answer using the code given belowa) 1 and 2 only
   b) 2 and 3 only
   c) 1 only
   d) 1 and 3 only
   Solution: a)
   Explanation:
   Statement 2 and 3 are not correct.
   Agri-exports touched $41.8 billion in FY 2020-21, registering a growth of 18 per cent over the
   previous year.
   India’s agri-export ecosystem
    India has been a net exporter of agri products since the economic reforms began in 1991.
    India occupies a leading position in global trade of agricultural products.
    However, its total agricultural export basket accounts for a little over 2.5% of world
   agricultural trade.
    The major export destinations were USA, Saudi Arabia, Iran, Nepal, and Bangladesh.
    Among the key agriculture commodities exported from India were marine products,
   basmati rice, buffalo meat, spices, non-basmati rice, cotton raw, oil meals, sugar, castor oil
   and tea.
    “After China, India is the second largest producer of horticultural crops and fruits.”
    India cracked into the top ten list of agricultural produce exporters in 2019 with a
   significant share within the export of rice, soya beans, cotton and meat, according to a
   World Trade Organisation (WTO) report on trends in world agricultural trade in recent 25
   years.
   In 2019, India ranked ninth with a share of 3.1% in global agricultural exports. Earlier this place was
   New Zealand. Similarly, Mexico has ranked seventh with a share of 3.4% in global agricultural
   exports, which was previously followed by Malaysia. In 1995, the US was in first place in the list of
   top-10 countries with a share of 22.2%. In 2019, the European Union held the top spot with a share
   of 16.1% whereas the US share declines to 13.8%. Brazil has retained its position as the third-largest
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   exporter with its share at 4.8% in 1995, which increased by 7.8% in 2019. In fourth place is China
   which has a share of 5.4%. In 1995, China was in sixth place with a share of 4 %.
   Q2. Which of followings statements are correct about International Fund for Agricultural
   Development?
4. It is a specialized agency of United Nations working in field of infrastructure building in disaster
   prone countries.
5. It is headquartered in Rome, Italy.
6. India is a member of this organization.
   Select the correct answer using the code given belowa) 1 and 2 only
   b) 2 and 3 only
   c) 3 only
   d) 1, 2 and 3
   Solution: b)
   Explanation:
   Statement 1 is not correct
   About IFAD
   IT is an international financial institution and specialized United Nations agency working in the field
   of poverty eradication in the rural areas of developing countries providing grants and loans with low
   interest for allied projects.
   It works with marginalized and vulnerable groups such as farmers with small holdings, foresters,
   Pastoralists, Fishermen and small scale entrepreneurs by giving them disaster preparedness, access
   to weather information, technology transfer and social learning.
   Formation:
   It was created in 1977, which is the outcome of the World Food Conference of 1974.
   Headquarters:
   Rome, Italy
   Members:
   It has 177 member countries.
   India is also a member country.
   Objectives:
   To increase the productive capacity of poor people.
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   To increase benefits for them from market participation.
   To strengthen the environmental sustainability & climate resilience of their economic activities.
   Reports:
   It brings out the Rural Development Report every year.
   Q3. Consider the following statements1. Semiconductor chips are designed to maintain the flow of electricity in a device.
7. It is mainly made up of silicon and vanadium.
8. China is largest producer of semi-conductor chips in world.
   Select the correct answer using the code given belowa) 1 and 2 only
   b) 2 only
   c) 2 and 3 only
   d) 1 only
   Solution: d)
   Explanation:
   Statement 2 and 3 are not correct.
    A semiconductor is a physical substance designed to manage and control the flow of current
   in electronic devices and equipment. It either doesn’t allow a freely flowing electric current
   or repels the current completely.
    Semiconductors are an essential component of electronic devices, enabling advances in
   communications, computing, healthcare, military systems, transportation, clean energy, and
   countless other applications.
    It’s generally created using silicon, germanium, or other pure elements. Semiconductors are
   created by adding impurities to the element. The conductance or inductance of the element
   depends on the type and intensity of the added impurities.
   Global semiconductor industry is dominated by the US, South Korea, Japan, and Taiwan. The US
   leads the market with a 47% share, followed by South Korea at 19%.
   Q4. Consider the following statements1. Monetisation of deficit may increase inflation in economy.
9. In India, no law prescribes monetisation of deficit in case of fiscal deficit.
10. RBI has never monetised deficit in post-independent period.
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    Select the correct answer using the code given below
    a) 1 and 2 only
    b) 2 and 3 only
    c) 1 only
    d) 1, 2 and 3
    Solution: a)
    Explanation:
    Statement 2 and 3 are not correct.
    Until 1997: Automatic monetisation of deficit
    India’s deficits were automatically monetised until 1997.
    o Ad-hoc treasury bills (non-marketable short term debt instruments issued by the Government of
    India), were automatically issued by the RBI on behalf of the Centre to itself at a fixed rate, to
    replenish the central government’s cash balances.
    Since 2018: Direct monetisation allowed on certain grounds
    FRBM Act was amended in 2017 adding an escape clause which permits monetisation of the deficit
    under special circumstances.
    o RBI can subscribe to the primary issue of central government securities in case the government
    exceeds the fiscal deficit target on grounds such as national security, act of war, national calamity,
    collapse of agriculture severely affecting farm output and incomes etc.
    Monetisation of deficit may increase inflation in economy by increasing cash flows.
    Q5. Which of the following statements regarding the Green-Ag Project is/are correct?
11. It will strengthen the community led initiatives to support conservation of species such as
    tiger and elephant.
12. It is financed by the Global Environment Facility.
13. It is being implemented in all states of India.
    Select the correct option using the code given below
    a) 1 and 3 only
    b) 2 only
    c) 2 and 3 only
    d) 1 and 2 only
    Solution: d)
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    Explanation:
    Statement 3 is not correct.
    The Green-Ag Project aims to catalyse transformative change of India’s agricultural sector to support
    achievement of national and global environmental benefits and conservation of critical biodiversity
    and forest landscapes.
    Key missions that will be targeted for strengthening include community led initiatives to support
    conservation of globally important species such as the tigers, elephants and the Great Indian
    Bustard.
    Such initiatives could include community led actions such as community anti-poaching patrolling,
    community led communication/ awareness activities, habitat and species monitoring activities.
    These will be strongly linked to Tiger Reserve and Elephant reserve management plans at the
    landscapes that the project will be working.
    This project has been implemented with the help of funding from Global Environment Facility
    (GEF).
    It is being implemented only in high conservation value landscapes in 5 chosen states – (i) Madhya
    Pradesh: Chambal Landscape, (ii) Mizoram: Dampa Landscape, (iii) Odisha: Similipal Landscape, (iv)
    Rajasthan: Desert National Park Landscape and v) Uttarakhand: Corbett-Rajaji Landscape.
    Q6. Climate Smart Cities Assessment Framework has been launched by:
    a) Ministry of Housing and Urban Affairs
    b) NITI Aayog
    c) Germanwatch
    d) UNFCCC
    Solution: a)
    Explanation:
    Climate Smart Cities Assessment Framework (CSCAF) is initiated and implemented by the Ministry
    of Housing and Urban Affairs and is supported by the Climate Centre for Cities under National
    Institute of Urban Affairs (NIUA).
    Q7. With reference to the Millets, consider the following statements:
14. Millets are cereal crops with high nutritive value and categorized as small-seeded grasses.
15. Recently, the United Nations General Assembly has passed the resolution to celebrate the
    International Year of Millets (IYM) in 2023, to promote the health benefits of millets.
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    Which of the statements given above is/are not correct?
    a) 1 only
    b) 2 only
    c) Both 1 and 2
    d) Neither 1 nor 2
    Solution: d)
    Explanation:
    Both statements are correct.
     Millets are cereal crops with high nutritive value and categorized as small-seeded grasses.
     The key varieties of millets include Sorghum, Pearl Millet, Ragi, Small Millet, Foxtail Millet,
    Barnyard Millet, Kodo Millet and others.
     Recently, the United Nations General Assembly has passed the resolution to celebrate the
    International Year of Millets (IYM) in 2023, to promote the health benefits of millets.
    Q8. World Social Protection Report 2020-22, sometimes seen in news, is published by:
    a) World Bank
    b) International Monetary Fund
    c) International Labour Organisation
    d) UNESCO
    Solution: c)
    Explanation:
     Social protection includes access to health care and income security, particularly in relation
    to old age, unemployment, sickness, disability, work injury, maternity or loss of a main
    income earner, as well as for families with children.
     In 2020, only 46.9% of the global population benefitted from at least one such protection,
    according to the report — ILOs first on the subject since 2017.
     The pandemic response was uneven and insufficient, deepening the gap between
    countries with high and low income levels and failing to afford the much-needed social
    protection that all human beings deserve.
    Q9. The term “Base Erosion and Profit Shifting” sometimes seen in news in context of ?
    a) Standards for reduction in Non-Performing Assets
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    b) Legal gaps violated by Multinational Enterprises to pay low by shifting their office at low tax
    jurisdictions
    c) Colony Collapse Disorder
    d) Induction of 4th stage in India’s Nuclear Program
    Solution: b)
    Explanation:
    OECD and Global Minimum Tax
     Under the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS), 139
    countries and jurisdictions are collaborating to put an end to tax avoidance strategies that
    exploit gaps and mismatches in tax rules to avoid paying tax.
    o BEPS refers to tax planning strategies used by multinational enterprises (MNEs) that
    exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations
    where there is little or no economic activity, resulting in little or no overall corporate tax
    being paid.
     OECD/G20 Inclusive Framework on BEPS is working to improve the coherence of
    international tax rules, ensure a more transparent tax environment and address the tax
    challenges arising from the digitalisation of the economy.
     Recently, 130 countries, including Switzerland, China and India, have joined a new two-pillar
    plan to reform international taxation rules and ensure that multinational enterprises pay a
    fair share of tax wherever they operate.
    o Pillar One ensures that large MNEs, including digital companies, pay tax where they operate and
    earn profits.
    o Pillar Two seeks to ensure that large MNEs pay at least a Global Minimum corporate tax
    rate, currently proposed at 15%, regardless of the jurisdiction where profits may be recorded.
    Q10. Which of the following Indian Biosphere Reserves are included in UNESCO’s World network of
    Biosphere Reserves?
16. Panna Biosphere Reserve
17. Nokrek Biosphere Reserve
18. Nilgiri Biosphere Reserve
19. Great Nicobar Biosphere Reserve
    Select the correct answer using the code given belowa) 1,2 and 3 only
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    b) 2,3 and 4 only
    c) 1,2 and 4 only
    d) 1,2,3 and 4
    Solution: d)
    Explanation:
    Recently, the United Nations Educational, Scientific and Cultural Organization (UNESCO) has
    included the Panna Biosphere Reserve (PBR) in its World Network of Biosphere Reserves (WNBR).
    The PBR is the third in Madhya Pradesh to be included in the list after Pachmarhi and Amarkantak.
    Panna is characterised by forests and marshy vegetation, with an abundance of rare medicinal
    plants as well as other non-timber forestry products, such as kattha, gum and resins. It is a critical
    tiger habitat area and hosts the Panna Tiger Reserve, as well as the World Heritage site of the
    Khajuraho Group of Monuments.
    There are 12 biosphere reserves of India which have been recognized internationally under Man
    and Biosphere (MAB) Reserve program.
    These are: 1) Nilgiri (First one to be included) 2) Gulf of Mannar 3) Sunderban 4) Nanda Devi 5)
    Nokrek 6) Pachmarhi 7) Similipal 8) Achanakmar – Amarkantak 9) Great Nicobar 10) Agasthyamala
    11) Khangchendzonga (2018) and 12) Panna(2020).