Daily Current Affairs MCQs for UPSC IAS Prelims - 4 April 2023

Welcome to the RAYACADEMY Daily Current Affairs MCQs! Our focus is to provide you with engaging and informative questions that primarily revolve around current affairs, derived from reliable sources such as 'The Hindu', 'Indian Express', and 'PIB'. Our MCQs test your understanding of factual and conceptual knowledge, which is essential for cracking the UPSC IAS and State PCS prelim exams. Below are some of Today's Current Affairs MCQs. We hope you make the most of this initiative and wish you all the best in your preparation.

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Q1.Which of the following statements is/are correct about Securities Transaction Tax (STT)? 1)STT is a kind of turnover tax where the investor has to pay a small tax on the total consideration paid or received in a share transaction. 2)STT was introduced in the Budget of 2004 and implemented in Oct 2004. 3)The objective behind the levy of STT is to mitigate tax evasion as the same is taxed at source. 4)STT is applicable only in the case of transactions that take place in the stock exchanges. 5)To avail exemption in the case of long-term capital gain, the asset under consideration has to be subjected to STT.

Select the correct answer using the codes given below: a) 1, 2 and 3 b) 1, 3 and 4 c) 2, 3 and 5 d) 1, 2, 3, 4 and 5 Answer: d) 1,2,3,4 and 5 Explanation: STT is a kind of turnover tax where the investor has to pay a small tax on the total consideration paid or received in a share transaction. This statement is correct. STT was introduced in the Budget of 2004 and implemented in Oct 2004. This statement is correct. The objective behind the levy of STT is to mitigate tax evasion as the same is taxed at source. This statement is correct. STT is applicable only in the case of transactions that take place in the stock exchanges. This statement is correct. To avail exemption in the case of long-term capital gain, the asset under consideration has to be subjected to STT. This statement is correct Q2.Which of the following statements is/are correct about PM SVANidhi scheme launched in 2020? 1)PM SVANidhi is a micro-credit scheme. 2)The scheme provides collateral-free loans of ₹10,000, with subsequent loans of ₹20,000 and ₹50,000 with 7% interest subsidy. 3)The scheme was launched to provide handholding support to street vendors to tide over the pandemic-induced economic stress.

Select the correct answer using the codes given below: a) 1 only b) 1 and 2 only c) 2 and 3 only d) 1, 2 and 3 Answer: d) 1, 2 and 3 Explanation: PM SVANidhi is a micro-credit scheme. This statement is correct. The scheme provides collateral-free loans of ₹10,000, with subsequent loans of ₹20,000 and ₹50,000 with 7% interest subsidy. This statement is correct. The scheme was launched to provide handholding support to street vendors to tide over the pandemic-induced economic stress. This statement is correct. Therefore, all the given statements are correct. Q3.Which of the following statements is/are correct about Exercise Cope India (CI18)? 1)Exercise Cope India is a long-standing bilateral U.S. Pacific Air Forces-sponsored field training exercise focused on enhancing U.S.-Indian mutual cooperation. 2)Cope India began in 2004 as a fighter training exercise held at Air Station Gwalior, India. 3)The exercise has evolved to incorporate subject matter expert exchanges, air mobility training, airdrop training and large-force exercises, in addition to fighter-training exercises.

Select the correct answer using the codes given below: a) 1 only b) 1 and 2 only c) 2 and 3 only d) 1, 2 and 3 Answer: d) 1, 2 and 3 Explanation: Exercise Cope India is a long-standing bilateral U.S. Pacific Air Forces-sponsored field training exercise focused on enhancing U.S.-Indian mutual cooperation. This statement is correct. Cope India began in 2004 as a fighter training exercise held at Air Station Gwalior, India. This statement is correct. The exercise has evolved to incorporate subject matter expert exchanges, air mobility training, airdrop training and large-force exercises, in addition to fighter-training exercises. This statement is correct. Therefore, all the given statements are correct. Q4.Which of the following countries in South America does the equator pass through? 1)Ecuador 2)Colombia 3)Brazil 4Argentina

Select the correct answer using the codes given below: a) 1 only b) 1 and 2 only c) 1, 2 and 3 only d) 1, 2, 3 and 4 Answer: c) 1,2 and 3 only Explanation: The equator is an imaginary line that circles the Earth, dividing the planet into two halves, the Northern Hemisphere and the Southern Hemisphere. It passes through a total of 13 countries, including three in South America. Ecuador,Colombia, Brazil and Argentina, all are part of South America but Equator doesn't pass through Argentina Therefore, only statements 1,2 and 3 are correct. Q5.With reference to Bombay Natural History Society (BNHS), consider the following statements:

1. It is an autonomous organization under the Ministry of Environment and Forests.

2. It strives to conserve nature through action-based research, education and public awareness.

3. It organizes and conducts nature trails and camps for the general public. Which of the statements given above is/are correct?

(a) 1 and 3 only

(b) 2 only (c) 2 and 3 only

(d) 1,2 and 3

Answer: c) 2 and 3 only

Explanation:

The Bombay Natural History Society is one of the largest non-governmental organizations in India engaged in conservation and biodiversity research. It strives to conserve nature through action-based research, education and public awareness. It organizes and conducts nature trails and camps for the general public.