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Daily Current Affairs
03 January, 2025
- Which initiative aims to revise the base year for the Wholesale Price Index (WPI) to 2022-23?
- (a) Fiscal Management Panel
- (b) Price Stability Committee
- (c) Expert Panel on WPI Revision
- (d) GST Rate Rationalization Committee
- (e) National Economic Review Board
Answer: (c) Expert Panel on WPI Revision
Explanation: The government formed an expert panel to revise the WPI constituents, updating the base year from 2011-12 to 2022-23, reflecting structural changes in the economy.
What is the target fiscal deficit for the 2025-26 Union Budget?
- (a) 5.0% of GDP
- (b) 4.4% of GDP
- (c) 3.8% of GDP
- (d) 4.0% of GDP
- (e) 4.9% of GDP
Answer: (b) 4.4% of GDP
Explanation: The Union Budget 2025-26 targets a fiscal deficit of 4.4% of GDP, with a plan to reduce it further in the medium term.
Which crop insurance system uses weather parameters to estimate losses for farmers?
- (a) Pradhan Mantri Fasal Bima Yojana
- (b) National Agricultural Insurance Scheme
- (c) Weather-Based Crop Insurance Scheme (RWBCIS)
- (d) Soil Health Management Scheme
- (e) Sustainable Farming Practices Scheme
Answer: (c) Weather-Based Crop Insurance Scheme (RWBCIS)
Explanation: RWBCIS compensates farmers for crop losses using weather parameters as proxies for crop yields, reducing risks due to adverse weather conditions.
Which of the following describes the Beej Gram Yojana?
- (a) A horticulture subsidy program
- (b) A scheme for certified seed distribution
- (c) A rural employment initiative
- (d) A pest-resistant crop development program
- (e) A weather data system for farmers
Answer: (b) A scheme for certified seed distribution
Explanation: The Beej Gram Yojana provides financial assistance for certified seed distribution with subsidies of 50%-60% to enhance productivity.
Which state did Rajendra Arlekar become Governor of in 2024?
- (a) Bihar
- (b) Kerala
- (c) Gujarat
- (d) West Bengal
- (e) Uttar Pradesh
Answer: (b) Kerala
Explanation: Rajendra Arlekar was sworn in as the 23rd Governor of Kerala in 2024.
What is one key advantage of genetically modified (GM) crops?
- (a) Reduced reliance on synthetic fertilizers
- (b) Resistance to herbicides and pests
- (c) Guaranteed yield increases
- (d) Elimination of soil erosion
- (e) Complete ecological sustainability
Answer: (b) Resistance to herbicides and pests
Explanation: GM crops, like Bt crops, are engineered for resistance to pests and herbicides, making farming more efficient.
What does the Rashtriya Krishi Vikas Yojana (RKVY) aim to achieve?
- (a) 4% annual growth in agriculture
- (b) 10% increase in horticulture exports
- (c) Self-sufficiency in fertilizers
- (d) Elimination of seed subsidies
- (e) Doubling of farmers’ incomes by 2030
Answer: (a) 4% annual growth in agriculture
Explanation: RKVY incentivizes states to increase public investment in agriculture and allied sectors, aiming for 4% annual growth in the agricultural sector.
Which tool is NOT a part of RBI’s liquidity management measures?
- (a) Open Market Operations (OMO)
- (b) Cash Reserve Ratio (CRR)
- (c) Repo Rate
- (d) Fiscal Deficit Targeting
- (e) Reverse Repo Rate
Answer: (d) Fiscal Deficit Targeting
Explanation: Fiscal deficit targeting is part of fiscal policy, not RBI’s monetary tools like OMO, CRR, Repo Rate, and Reverse Repo Rate.
Which program promotes horticulture across various crop categories in India?
- (a) Beej Gram Yojana
- (b) Rashtriya Krishi Vikas Yojana
- (c) Integrated Horticulture Development Mission (MIDH)
- (d) Sustainable Farming Practices Scheme
- (e) Kisan Credit Card Scheme
Answer: (c) Integrated Horticulture Development Mission (MIDH)
Explanation: MIDH is a national program promoting the horticulture sector, covering fruits, vegetables, spices, and flowers.
What is the purpose of the YES-TECH system in crop insurance schemes?
- (a) Accurate weather forecasting
- (b) Yield estimation using remote sensing
- (c) Subsidy allocation to farmers
- (d) Drought management planning
- (e) Soil health assessment
Answer: (b) Yield estimation using remote sensing
Explanation: YES-TECH uses remote sensing technology for yield estimation, enhancing the accuracy of crop insurance claims.
