1 UPSC ENGLISH QUIZ 19.06.2024 Daily Quiz 1 / 5 Q1. Consider the following statements: 1. World Bank released its latest Global Economic Prospects, June 2024 report. 2. The forecast for Indian gross domestic product (GDP) growth for the financial year 2024-25 has been revised to 4.6 per cent. 3. According to the report, for the first time in three years, the global economy is showing signs of stabilising in the year 2024. Which of the statements given above is/are correct? 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: World Bank has revised its forecast for Indian gross domestic product (GDP) growth for the fiscal year 2024-25 to 6.6 per cent in its latest Global Economic Prospects, released in June 2024 report. Key Findings of the Report Growth Outlook: According to the report, for the first time in three years, the global economy is showing signs of stabilisation in 2024. Globally, GDP growth is now anticipated to be 2.6 % for 2024-25. For FY26 and FY27, global growth is expected to be 2.7% amid modest growth in trade and investment. Projection for Global Inflation: The World Bank forecasts a slower moderation of global inflation, averaging 3.5% this year. 2 / 5 Q2. Consider the following statements: 1. A new study has reported for the first time significant reductions in atmospheric concentrations of potent ozone-depleting substances (ODS) known as hydrochlorofluorocarbons 2. Ozone-depleting substances (ODS) are chemicals that cause the depletion of the ozone layer in the stratosphere. 3. The ozone layer is essential for protecting life on Earth by absorbing most of the sun's harmful ultraviolet (UV) radiation. Which of the statements given above is/are correct? 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: A new study has reported for the first time significant reductions in atmospheric concentrations of potent ozone-depleting substances (ODS) known as hydrochlorofluorocarbons (HCFCs). Ozone-depleting substances Ozone-depleting substances (ODS) are chemicals that cause the depletion of the ozone layer in the stratosphere. The ozone layer is essential for protecting life on Earth by absorbing most of the sun's harmful ultraviolet (UV) radiation. The most common ODS include chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs), halons, carbon tetrachloride, and methyl chloroform. These substances are commonly used in refrigerators, air conditioners, fire extinguishers, and aerosols. 3 / 5 Q3. Consider the following statements: 1. Central Board of Indirect Taxes and Customs has decided to electronically transfer duty refund funds directly to the bank accounts of exporters through Public Financial Management System to ensure transparency and efficiency. 2. Duty Refund under Section 65 of the Customs Act, 1962, provides exemption from customs duty applicable on any imported inputs or excisable materials used in the manufacture of export goods. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: Central Board of Indirect Taxes and Customs has decided to electronically transfer duty refund funds directly to the bank accounts of exporters through Public Financial Management System (PFMS) to ensure transparency and efficiency. Duty Refund Duty Refund under Section 75 of the Customs Act, 1962, provides exemption from customs duty applicable on any imported inputs or excisable materials used in the manufacture of export goods. The system helps exporters to reduce certain costs incurred during the export process, particularly along the supply or value chain. Public Financial Management System (PFMS) It is a web-based online software application developed and implemented by the Office of the Controller General of Accounts (CGA), Ministry of Finance. It was initially launched in the year 2009 as a Central Sector Scheme by the Planning Commission (NITI Aayog). 4 / 5 Q4. Consider the following statements: 1. Indian Institute of Chemical Technology Scientists have highlighted the potential of Chlorella Growth Factor, a protein-rich extract derived from the microalgae ‘Chlorella sorokiniana’, as an ideal ingredient for a wide range of food and feed applications. 2. Nutritional Benefits: CGF is rich in high quality amino acids and proteins, making it a promising alternative source for both human and animal feed. 3. It contains more essential amino acids and nutrients such as peptides, nucleotides, polysaccharides, vitamins and minerals than commercial soy meal. Which of the statements given above is/are correct? 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: Indian Institute of Chemical Technology Scientists have highlighted the potential of Chlorella Growth Factor, a protein-rich extract derived from the microalgae ‘Chlorella sorokiniana’, as an ideal ingredient for a wide range of food and feed applications. Chlorella Growth Factor (CGF) and Chlorella sorokiniana Chlorella Growth Factor Nutritional Benefits: CGF is rich in high quality amino acids and proteins, making it a promising alternative source for both human and animal feed. It contains more essential amino acids and nutrients such as peptides, nucleotides, polysaccharides, vitamins and minerals than commercial soy meal. Production Method: Extraction of CGF involves a non-chemical autolysis process, which preserves the integrity of amino acids and other valuable components. 5 / 5 Q5. Consider the following statements: 1. Competition Commission of India (CCI) approved the acquisition of up to approximately 11% shareholding by South Korea Based Shinhan Bank Co., Ltd. in HDFC Credila Financial Services Limited. 2. Shinhan Bank is part of the Shinhan Financial Group, which has been operating in India since 1996. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: Competition Commission of India (CCI) approved the acquisition of up to approximately 11% shareholding by South Korea Based Shinhan Bank Co., Ltd. in HDFC Credila Financial Services Limited. Shinhan Bank is part of the Shinhan Financial Group, which has been operating in India since 1996. HDFC Credila is a registered non-deposit taking Non-Banking Financial Company (NBFC) that provides education loans in India and overseas. Matrix Pharma's Acquisition of Tianish Laboratories CCI granted approval for Matrix Pharma Private Limited to acquire 100% stake in Tianish Laboratories Private Limited. Mudhra Labs Private Limited, the parent company of Matrix Pharma, will make a partial investment in optionally convertible debentures to support the transaction. Kingsman Wealth Fund PCC's investment in Compulsory Convertible Preference Shares (CCPS) of Mudhra Life Sciences, Matrix Pharma's parent company, was also approved by CCI on May 28, 2024. The funds from these investments will be utilized by Matrix Pharma for the acquisition of Tianish Laboratories. Incorporated in 2023, Tianish Laboratories Private Limited is engaged in the manufacture and sale of active pharmaceutical ingredients in India. Your score is LinkedIn Facebook Twitter VKontakte Post navigation ALL EXAM QUIZ 19.06.2024 ALL EXAM QUIZ 20.06.2024
