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Daily Current Affairs
19 & 20 January, 2025
1. What is the primary objective of the Generalized System of Preferences (GSP)?
A) To increase tariffs on imported goods
B) To reduce trade barriers for developing countries
C) To increase export duties on certain goods
D) To establish a single global trade agreement
E) To restrict access to developed countries’ markets
Answer: B) To reduce trade barriers for developing countries</br>
Explanation: The Generalized System of Preferences (GSP) aims to reduce or eliminate tariffs on exports from developing countries, helping to boost their economic growth and reduce poverty.
2. What is the key benefit of India’s Trade and Economic Partnership Agreement (TEPA) with EFTA?
A) It imposes stricter trade restrictions on Switzerland.
B) It guarantees $100 billion in investments over 15 years.
C) It eliminates all tariffs on Indian agriculture products.
D) It excludes the services sector from market access.
E) It forces India to privatize all its industries.
Answer: B) It guarantees $100 billion in investments over 15 years</br>
Explanation: The TEPA with EFTA aims to reduce trade barriers, enhance services and investment access, and facilitate a $100 billion investment into India over 15 years.
3. What is the main purpose of the Beti Bachao, Beti Padhao (BBBP) Scheme?
A) To decrease the number of girls in India
B) To improve healthcare for women
C) To address declining child sex ratios and improve the welfare of girl children
D) To establish women-only education institutions
E) To promote financial literacy among girls
Answer: C) To address declining child sex ratios and improve the welfare of girl children</br>
Explanation: The BBBP scheme aims to improve the sex ratio, promote institutional deliveries, and increase educational enrollment for girls.
4. What is the feature of the Ayushman Bharat Digital Health Account (ABHA)?
A) It is a physical health card distributed to all citizens.
B) It is a 14-digit number for secure digital health record storage and sharing.
C) It only applies to government employees.
D) It replaces traditional healthcare insurance.
E) It requires biometric identification for registration.
Answer: B) It is a 14-digit number for secure digital health record storage and sharing</br>
Explanation: The ABHA is part of the Ayushman Bharat Digital Mission and allows secure management and sharing of personal health records.
5. What is the role of Business Correspondents (BCs) in banking services?
A) To provide banking services only in urban areas
B) To provide banking services in underserved and rural areas
C) To offer loans to small businesses exclusively
D) To manage government-to-consumer services
E) To audit financial institutions
Answer: B) To provide banking services in underserved and rural areas</br>
Explanation: BCs are agents who offer banking services in rural or underserved regions where formal bank branches may not be present.
6. What is the Real Effective Exchange Rate (REER) used to measure?
A) A country’s fiscal deficit
B) A currency’s value relative to a basket of currencies adjusted for inflation
C) The interest rates of a country’s central bank
D) The inflation rate in domestic markets
E) The consumer price index
Answer: B) A currency’s value relative to a basket of currencies adjusted for inflation</br>
Explanation: The REER reflects a currency’s strength in the international market by adjusting its value for inflation and comparing it to a basket of other currencies.
7. Which of the following is NOT a challenge faced by India’s Insolvency and Bankruptcy Code (IBC)?
A) Institutional inefficiencies in NCLT/NCLAT
B) Delays in procedural resolutions
C) Lack of specialized knowledge
D) Excessive capital allocation
E) Complex judicial processes
Answer: D) Excessive capital allocation</br>
Explanation: The main challenges in IBC include inefficiencies in the National Company Law Tribunal (NCLT), procedural delays, and lack of expertise, not excessive capital allocation.
8. What does the National Policy Framework on Agricultural Marketing (NPFAM) promote?
A) Increased importation of agricultural goods
B) Reduction in the number of farmers’ markets
C) Empowering farmers with better market access and competitive pricing
D) Restricting direct procurement from farms
E) Introduction of global trading systems for agriculture
Answer: C) Empowering farmers with better market access and competitive pricing</br>
Explanation: NPFAM aims to provide better market access for farmers and enhance competition to improve pricing and the efficiency of agricultural marketing.
9. What is the primary aim of the Take-Home Ration (THR) program?
A) To distribute cooked meals in urban areas
B) To combat malnutrition in pregnant women, lactating mothers, and children
C) To reduce the importation of fortified food items
D) To promote the production of organic food
E) To provide free healthcare to children
Answer: B) To combat malnutrition in pregnant women, lactating mothers, and children</br>
Explanation: The THR program is designed to provide fortified rations to vulnerable populations like pregnant women and children to combat malnutrition.
10. Which of the following is a consequence of Nigeria joining BRICS?
A) It will reduce BRICS trade restrictions.
B) It will increase Nigeria’s global economic cooperation.
C) It will diminish India’s economic influence in Africa.
D) It will impose trade tariffs on BRICS nations.
E) It will restrict Nigeria’s participation in global trade.
Answer: B) It will increase Nigeria’s global economic cooperation</br>
Explanation: Nigeria’s inclusion in BRICS enhances its economic cooperation and strengthens its role in global economic matters, especially with emerging markets.
