PRELIMS CURRENT AFFAIRS-07/07/24

01. With reference to Atal Innovation Mission, consider the following statements:

1. It is  India’s flagship initiative to promote a culture of innovation and entrepreneurship in the country and was set up in 2016.
2. It has launched the Atal Tinkering Lab  program to foster curiosity and innovation in young minds, between grade 6th to 12th across the country technologies such as Internet of Things, 3D printing, rapid prototyping tools.
3. AIM has established 10,000 Atal Tinkering Labs in Schools across the country.

How many of the above statements are correct?

1. Only one
2. Only two
3. All three
4. None

Answer:  (c)All three

In News:Atal Innovation Mission Celebrates Community Innovator Fellows Graduation alongside launch of ‘Stories of Change edition 2’.

Explanation:

• Atal Innovation Mission (AIM), NITI Aayog is Government of India’s flagship initiative to promote a culture of innovation and entrepreneurship in the country and was setup in 2016.Hence statement 1 is correct.
•  Towards this end AIM has taken a holistic approach to ensure creation of a problem-solving innovative mindset in schools and creating an ecosystem of entrepreneurship in universities, research institutions, private and MSME sector. 
• All the initiatives of AIM are currently monitored and managed systematically using real-time MIS systems and dynamic dashboards.
•  AIM is also currently having its programs reviewed by third party agencies for ensuring continuous improvements.
• AIM has launched the Atal Tinkering Lab (ATL) program. ATL is a state-of-the-art space established in a school with a goal to foster curiosity and innovation in young minds, between grade 6th to 12th across the country through 21st century tools and technologies such as Internet of Things, 3D printing, rapid prototyping tools, robotics, miniaturized electronics, do-it-yourself kits and many more.Hence statement 2 is correct.
•  The aim is to stimulate a problem-solving innovative mindset within the children of the ATL and nearby communities. 
• Till date, AIM has established 10,000 Atal Tinkering Labs in Schools across the country.Hence statement 3 is correct.

Source:

https://pib.gov.in/PressReleasePage.aspx?PRID=2031064

02. Consider the following statements:

1. Women Entrepreneurship Platform incubated in NITI Aayog in 2018 as an aggregator platform, transitioned into a public-private partnership in 2022.
2. Women Entrepreneurship Platform is chaired by Small Industries Development Bank of India 
3. Financing Women Collaborative  is an initiative of Women Entrepreneurship Platform launched in September 2023, aims to enhance access to finance for women entrepreneurs in India.
4. Financing Women Collaborative brings together the financial service sector and organisations working with women entrepreneurs to create a supportive financing ecosystem for women.

How many of the above statements are correct?

1. Only one
2. Only two
3. Only three
4. All four

Answer:  (c)Only three

In News:Second meeting of Financing Women Collaborative, a key initiative of the Women Entrepreneurship Platform

Explanation:

• Mumbai hosted the second convening of Financing Women Collaborative (FWC), an initiative of Women Entrepreneurship Platform (WEP) to deliberate and address issues with relevant stakeholders towards accelerating access to finance for women entrepreneurs. The meeting was organized by WEP in partnership with TransUnion CIBIL (TU CIBIL) and MicroSave Consulting (MSC).
• The event was held at the Taj Mahal Palace Hotel, Mumbai, on 5th July 2024. Key dignitaries included senior officials from NITI Aayog, RBI, the Ministry of Finance, the Ministry of MSME, SIDBI, public-sector banks, private-sector financial institutions, CSOs/NGOs, and women entrepreneurs. It welcomed a diverse audience of government officials and private sector representatives working with women entrepreneurs.
• WEP, incubated in NITI Aayog in 2018 as an aggregator platform, transitioned into a public-private partnership in 2022.Hence statement 1 is correct.
•  WEP aims to strengthen India’s women entrepreneurship ecosystem for making women-led development a reality. It provides a forum for all ecosystem stakeholders across government, business, philanthropy, and civil society to collaborate, converge, and align their initiatives towards scalable, sustainable and effective programs, enabling a larger impact for women entrepreneurs. 
• WEP has over 20 public and private sector partners collaborating to strengthen women entrepreneurs in India.
• FWC, an initiative of WEP launched in September 2023, aims to enhance access to finance for women entrepreneurs in India.Hence statement 3 is correct. 
• It is chaired by Small Industries Development Bank of India (SIDBI) and co-chaired by TU CIBIL, with MSC as its secretariat.Hence statement 2 is incorrect. 
• FWC brings together the financial service sector and organizations working with women entrepreneurs to create a supportive financing ecosystem for women.Hence statement 4 is correct.

Source:

https://pib.gov.in/PressReleasePage.aspx?PRID=2031079

03.SEHER recently in news related to 

1. A credit education program launched to empower women entrepreneurs in India with financial literacy content and business skills.
2. A Public finance management system for centrally sponsored program
3. A Portal for environmental clearance regarding infrastructure projects
4. A power sector reforms and grid restructure program

Answer:  (a)A credit education program launched to empower women entrepreneurs in India with financial literacy content and business skills

In News:Women Entrepreneurship Platform and TransUnion CIBIL Partner to Launch SEHER Program to Empower Women Entrepreneurs

Explanation:

• SEHER, a credit education program launched today by the Women Entrepreneurship Platform (WEP) and TransUnion CIBIL, will empower women entrepreneurs in India with financial literacy content and business skills, helping them to access the financial tools they need to drive further growth and create employment in the country’s economy.Hence option(a) is correct.
• The Women Entrepreneurship Program (WEP) is a public-private partnership platform incubated at Niti Aayog and aims to create an enabling ecosystem for women entrepreneurs in India. The program is part of WEP’s Financing Women Collaborative (FWC), a first-of-its-kind initiative aimed at accelerating access to finance for women entrepreneurs. The SEHER program was launched byNITI Aayog 
• WEP aims to empower women entrepreneurs by overcoming information asymmetry and providing support across different pillars such as entrepreneurship promotion, access to finance, market linkages, training and skills development, mentoring and networking, and access to business development services.
• According to the Udyam Registration Portal (URP) of the Ministry of Micro, Small and Medium Enterprises (MSMEs), India has 63 million micro, small, and medium enterprises of which 20.5% are women-owned, employing as many as 27 million people.
•  The Ministry also reported that rural areas have a slightly greater share of women-owned enterprises (22.24%) compared to urban areas (18.42%). 
• Estimates suggest that by accelerating women’s entrepreneurship, India could create more than 30 million new women-owned enterprises, potentially creating 150 to 170 million more jobs – with women-owned businesses’ contribution to employment generated by URP-registered units at 18.73%.

Source:

https://pib.gov.in/PressReleasePage.aspx?PRID=2031097

04. The Annual Survey of Unincorporated Sector Enterprises report released by 

1. NITI aayog
2. Department of financial services
3. Reserve Bank of India
4. Ministry of Statistics and Programme Implementation

Answer:  (d)Ministry of Statistics and Programme Implementation

In News:Annual Survey of Unincorporated Sector Enterprises (ASUSE) Results for 2021-22 and 2022-23

Explanation:

• The key results of the Annual Survey of Unincorporated Sector Enterprises (ASUSE) for the reference periods of April 2021 to March 2022 (ASUSE 2021-22) and October 2022 to September 2023 (ASUSE 2022-23) in the form of a factsheet were released by the Ministry of Statistics and Programme Implementation (MoSPI), on 14th June 2024 through a press note. The detailed reports and unit level data of these two surveys are now being released through this press note. These are now available in the website of the Ministry (https://www.mospi.gov.in).Hence option(d) is correct.
• A brief overview of the survey in terms of coverage, sampling strategy, data collection mechanism, etc., is provided in the Endnote.
• The unincorporated non-agricultural sector holds significant importance in the Indian economy, primarily due to its ability to absorb a significant portion of the country’s workforce, its inclusivity in providing employment opportunities to a diverse range of people, including those from rural areas, and those with limited formal education and also its contribution to country’s Gross Domestic Product (GDP).
• The survey period of ASUSE 2021-22, particularly the period April – June, 2021, was severely impacted by the second wave of the pandemic and, in turn, the survey got hampered to a great extent.
•  As a result, the overall annual aggregate estimates of ASUSE 2021-22 were affected. For this reason, the estimates of ASUSE 2021-22 have been presented annually (April, 2021 – March, 2022), and also for the 3-month (April, 2021 – June, 2021) and 9-month period (July, 2021 – March, 2022) separately along-with the annual estimates of ASUSE 2022-23 (October, 2022 – September, 2023) in the factsheet which was published on 14th June 2024 and is available in the website of the Ministry.

Source:

https://pib.gov.in/PressReleasePage.aspx?PRID=2031024

05. Consider the following statements:

1. Convergence Energy Services Limited is a subsidiary of state-owned Energy Efficiency Services Limited, a joint venture of public sector companies under the Ministry of New and  Renewable energy.
2. It is focused on energy solutions that lie at the confluence of renewable energy, electric mobility and climate change.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Answer:  (b)2 only

In News:Ministry of Rural Development and Convergence Energy Services Limited signs MoU to facilitate Green Mobility for SHG Women of DAY-NRLM

Explanation:

• The Ministry of Rural Development (MoRD) today signed an MoU with Convergence Energy Services Limited (CESL), a wholly owned subsidy of EESL, to help facilitate “Sustainable Transport for Rural Entrepreneurs through Electric Bicycles” (STREE) for Self Help Group (SHG) Women under Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM). 
• STREE intends to empower the rural economy, especially the rural women by providing them access to green mobility through the introduction of electric bicycles.
• Convergence Energy Services Limited (CESL) is a subsidiary of state-owned Energy Efficiency Services Limited, a joint venture of public sector companies under the Ministry of Power, Government of India..Hence statement 1 is incorrect.  
• CESL is focused on energy solutions that lie at the confluence of renewable energy, electric mobility and climate change.Hence statement 2 is correct.  
• DAY- NRLM is focusing to promote SHG women led enterprises with diversified opportunities in manufacturing and service sector covering the farm and non-farm domains. 
• Since its launch, DAY-NRLM has helped create the largest platform for social inclusion, access to financial services and women’s economic empowerment.

Source:

https://pib.gov.in/PressReleasePage.aspx?PRID=2031058

06.Recently Government of India launched InFLiMeN, Liver and Metabolic Disease Network with which of the following countries?

1. Japan
2. Germany
3. France 
4. Singapore

Answer:  (c)France 

In News:Every third Indian has fatty liver; predates Diabetes, metabolic disorders, says Dr Jitendra Singh

Explanation:

• Every third Indian has fatty liver, which predates Type 2 Diabetes and other metabolic disorders, said Union Minister Dr Jitendra Singh who is himself a nationally renowned Diabetologist.
• Union Minister Dr. Jitendra Singh launched Indo-French Liver and Metabolic Disease Network (InFLiMeN) a virtual node to prevent and cure metabolic liver diseases at Institute of Liver and Biliary Sciences in New Delhi.Hence option(c) is correct.
• Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy and Department of Space and MoS Personnel, Public Grievances and Pensions Dr. Jitendra Singh said, “Both the Indian subcontinent and Europe are attributable to changes in lifestyle, diet and importantly metabolic syndromes such as diabetes and obesity which have contributed to a significant rise in NAFLD.” 
• The Minister shared that nearly 1 in 3 Indians has fatty liver. While in the West, most NAFLD is associated with obesity, intriguingly in the Indian subcontinent, NAFLD occurs in about 20% of non-obese patients.
• Emphasizing the vitality of this initiative, the science and technology minister said, “There is a considerable burden of alcoholic liver disease (ALD) in India and France
• Highlighting India’s progress in the last decade in the health sector, Dr. Jitendra Singh said, “India became a global leader not just in curative healthcare but also in preventive healthcare.”. 
• There is an urgent need to develop simple, low-cost diagnostic tests for the detection of different stages of fatty liver and their progression to severe, full-blown diseases. The approaches and algorithms should suit the Indian context, low-priced, and have a point of care.

Source:

https://pib.gov.in/PressReleasePage.aspx?PRID=2030937

07. Consider the following statements:

1. The trade account in current account refers to the export and import of physical goods (cars or wheat or gadgets, etc), which determines the ‘balance of trade
2. ‘Invisible’ transactions in current account  include services banking, insurance IT, tourism, transport, transfers and incomes such as the income earned from investments.
3. The capital account captures transactions that are less about current consumption and more about investments, such as Foreign Direct Investment and Foreign Institutional Investments.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 2 and 3  only
3. 3 only
4. 1,2 3 

Answer: (d)1,2 3 

In News:How to read India’s Balance of Payments

Explanation:

• The Balance of Payments (BoP) is essentially a ledger of a country’s transactions with the rest of the world. As Indians trade and transact with the rest of the world, money flows in and out of the country. The BoP shows how much money (shown here in billions of US dollars) went out of the country and how much money came in.
•  All the money coming into the country is marked positive and all the money going out is marked negative. As such, in the BoP table, a minus sign points to a deficit.
• The current account, as the name suggests, records transactions that are of a ‘current’ nature. There are two subdivisions of the current account: the trade of goods, and the trade of services.
• The trade or merchandise account refers to the export and import of physical goods (cars or wheat or gadgets, etc), which determines the ‘balance of trade’. 
• If India imports more goods than it exports, it is running a trade deficit, which is shown by a negative sign.Hence statement 1 is correct. 
• The second part of the current account is made up by the ‘invisibles’ trade, so called because it refers to trade in services and other transactions that are typically ‘not visible’ in the same way as, say, the trade in cars or chairs or phones is.
• ‘Invisible’ transactions include services (e.g., banking, insurance IT, tourism, transport, etc.); transfers (e.g., Indians working in foreign countries sending back money to families back home); and incomes (such as the income earned from investments).Hence statement 2 is correct. 
• The net of these two kinds of trades is the current account. As can be seen from the table, in Q4, India registered a surplus on the current account. 
• There was a surplus on the invisibles, but there was a deficit on the trade account.
• The capital account captures transactions that are less about current consumption and more about investments, such as Foreign Direct Investment (FDI) and Foreign Institutional Investments (FII).Hence statement 3 is correct.  
• The table for Q4 shows a net surplus of $25 billion on the capital account.
• Lastly, the BoP table always balances through the change in the foreign exchange reserves column. 
• When there is a BoP surplus — net of current and capital account — implying billions of dollars coming into the country, the RBI sucks up these dollars and adds to its foreign exchange reserves.
• If the RBI did not do this, the rupee’s exchange rate would appreciate — and undermine the competitiveness of India’s exports

Source:

https://indianexpress.com/article/explained/explained-economics/how-to-read-indias-balance-of-payments-9435678/

08. With reference toThe Telecommunications Act, 2023,consider the following statements:

1. The Act provides a legal framework for efficient utilisation of scarce spectrum through processes such as secondary assignment, sharing, trading, leasing and surrender of spectrum.
2. The Acts prescribes, with immediate effect, the use of any equipment which blocks telecommunication, unless permitted by the Central Government.
3. The Act will amend section 4 of the TRAI Act 1997 and prescribes criteria for appointment of Chairperson and Members of TRAI.

How many of the above statements are correct?

1. Only one
2. Only two
3. All three
4. None

Answer:  (c)All three

In News:The Telecommunications Act 2023: Ushering in a New Era of Connectivity

Explanation:

• The Union Government on July 04, 2024, issued Gazetted Notification for enforcing section 6-8, 48 and 59(b) of the Telecommunications Act. 2023 w.e.f. today, i.e., July 05, 2024.
• The Telecommunication Act 2023 aims to amend and consolidate the law relating to development, expansion and operation of telecommunication services and telecommunication networks; assignment of spectrum; and for matters connected therewith. The Telecommunication Act 2023 also seeks to repeal existing legislative frameworks like Indian Telegraph Act 1885 and Indian Wireless Telegraph Act 1933 owing to huge technical advancements in the telecom sector and technologies.
• Guided by the principles of Samavesh (Inclusion), Suraksha (Security), Vriddhi (Growth), and Tvarit (Responsiveness), the Act aims to achieve the vision of Viksit Bharat (Developed India).
• The Telecommunications Act, 2023, was passed by the Parliament in December 2023, received the assent of the President of India on  December 24, 2023 and was published in the official Gazette on the same day.
• Sections 1, 2, 10-30, 42-44, 46, 47, 50-58, 61 and 62 of the Act have already been brought into force w.e.f. 26thJune, 2024 vide Notification No.2408(E) dated 21st June, 2024 in the Gazette of India.
• Optimal utilisation of spectrum: The Act provides a legal framework for efficient utilisation of scarce spectrum through processes such as secondary assignment, sharing, trading, leasing and surrender of spectrum.Hence statement 1 is correct.   
• It also enables the utilisation of spectrum in a flexible, liberalised and technologically neutral manner.
•  It also empowers the Central Government to establish an enforcement and monitoring mechanism for the purpose.
• Prohibition of use of equipment which block telecommunications: The Acts prescribes, with immediate effect, the use of any equipment which blocks telecommunication, unless permitted by the Central Government.Hence statement 2 is correct.  
• Criteria for appointment as Chairperson and Members of TRAI: Section 59(b) of the Act will amend section 4 of the TRAI Act 1997 and prescribes criteria for appointment of Chairperson and Members of TRAI.Hence statement 3 is correct.  

Source:

https://pib.gov.in/PressReleasePage.aspx?PRID=2031057

09. Consider the following statements:

1. BRICS brings together five of the largest developing countries of the world, representing around 41 per cent of the global population, around 24 per cent of the global GDP, and around 16 per cent of global trade.
2. The first BRIC Summit was held in Yekaterinburg, Russia, in 2009.
3. South Africa attended the 2nd BRICS Summit in Sanya, China, in 2011.

Which of the statements given above is/are correct?

1. 1 and 3 only
2. 1 and 2 only
3. 2 and 3 only
4. 1,2,3

Answer:(b) 1 and 2 only

In News:Why are Southeast Asian countries looking to join BRICS?

Explanation:

• BRICS brings together five of the largest developing countries of the world, representing around 41 per cent of the global population, around 24 per cent of the global GDP, and around 16 per cent of global trade.Hence statement 1 is correct. 
• The acronym BRIC was first used in 2001 by Goldman Sachs in their Global Economics Paper, ‘The World Needs Better Economic BRICs’. 
• On the basis of econometric analyses, the paper projected that the four economies of Brazil, Russia, India, and China would be among the world’s largest economies in the next 50 years or so.
• As a formal grouping, BRIC started after the meeting of the leaders of Russia, India and China in St. Petersburg on the margins of the G8 Outreach Summit in 2006. The grouping was formalised during the first meeting of BRIC Foreign Ministers on the margins of the UNGA in New York in 2006.
• The first BRIC Summit was held in Yekaterinburg, Russia, in 2009. It was decided to include South Africa at the BRIC Foreign Ministers’ meeting in New York in 2010, and accordingly, South Africa attended the 3rd BRICS Summit in Sanya, China, in 2011.Hence statement 2 and 3 is correct. 

Source:

https://indianexpress.com/article/explained/explained-global/southeast-asian-countries-to-join-brics-9433532/

10.Consider the following statements about ‘the Charter Act of 1813’:(2019)

1. It ended the trade monopoly of the East India Company in India except for trade in tea and trade with China.
2. It asserted the sovereignty of the British Crown over the Indian territories held by the Company.
3. The revenues of India were now controlled by the British Parliament.

Which of the statements given above are correct?

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

Ans:(a)1 and 2 only

Explanation:

•  The Charter Act of 1813 ended the trade monopoly of East India company in India except for trade in tea and trade in China. 
• Further it also asserted sovereignty of the British Crown over the Indian territories held by the company. 
• However the Company was to retain the possession of territories and revenues for 20 years more without prejudice to British Crown.Hence option(a) is correct.