Weekly Current Affairs: Quizzes 27/06/2022 to 02/07/2022

EXPLANATION:

• Web 5.0:
• News: Former Twitter CEO Jack Dorsey recently announced his vision for a new decentralized web platform that is being called Web 5.0. that aims to return “ownership of data and identity to individuals”.
• Web 1.0, Web 2.0 and Web 3.0:
• Web 1.0. Web 1.0 was all about reading, and getting information.
• Web 2.0 was all about reading, writing, and creating. So, users joined social platforms, and these platforms got big because of this created content.
• Web 3.0 is all about reading, writing and owning. So, builders and creators can now own a piece of their own community, through NFTs, tokens etc.
• Web 5.0:
• The Block Head is being created by Dorsey's Bitcoin business team (TBH). Hence statement 1 is correct.

• Simply described, Web 5.0 is a combination of Web 2.0 and Web 3.0 that allows users to "own their identity" and "manage their data" on the Internet. Hence statement 2 and 3 are correct.

• Both Web 3.0 and Web 5.0 envision an Internet free of government or corporate restrictions, as well as the prospect of catastrophic disruptions. Hence statement 4 is correct.

EXPLANATION:

• Agnipath Scheme:
• The government has launched its new Agnipath system for recruiting soldiers in all three services. Hence statement 1 is correct.
• Around 45,000 to 50,000 troops (dubbed 'Agniveers') would be recruited annually under the new plan (for a limited time, with the majority leaving after only four years).
• Only 25% of the total yearly recruits will be able to stay under permanent commission for another 15 years. Hence statement 2 is correct.
  Format of the scheme:
• Aspirants between the ages of 17.5 years and 21 years will be eligible to apply. The scheme is only applicable to personnel below officer ranks. Hence statement 3 is correct and statement 4 is incorrect.

EXPLANATION:

• Reserve Bank of India (RBI) in its ‘Monthly Economic Review’ report highlighted two key areas of concern for the Indian economy: the fiscal deficit and the current account deficit (or CAD). Hence option (c) is correct answer
• Fiscal deficit: It gives the amounts of total borrowings of the government in a given fiscal period.

• Gross FD = Total expenditure of the Government - (Revenue receipts + non debt creating capital receipts).
• Net FD = GFD - financial assistance to state.

• Balance of payments is an overall statement of the country's economic transactions with the rest of the world over some period- usually one year, which includes all outflows and inflows (payments and receipts). Balance of payments can be broken down into--
  • Balance of current account (balance of trade in goods, services, transfer payments like remittances and interest payment).
  • Balance of capital account (investment and borrowing).

EXPLANATION:

• FATF:
• Pakistan is hoping for some reprieve as the international watchdog Financial Action Task Force (FATF) will begin meetings in Berlin ahead of its plenary session.
• In 2018, the Paris-based FATF placed Pakistan on the grey list, and the country has been working hard to get off it. It has accomplished 26 of the 27 tasks assigned to it in 2018.
• About FATF:
• It's an inter-governmental body established on the initiative of the G7. Hence statement 1 is incorrect.
• It is a “policy-making body” which works to generate the necessary political will to bring about national reforms in response to global standards for anti-money laundering and combating financing of terrorism. Hence statement 2 is correct.
• The FATF Secretariat is housed at the headquarters of the OECD in Paris. India is a part of it. The Gulf Cooperation Council (GCC) and the European Commission (EC) — are also members.

EXPLANATION:

• Banning of Plastic in India:
• NGT has directed the Central Drugs Standard Control Organisation to analyse the products containing Microbeads. According to UNEP tonnes of plastic make its way to oceans, costing approximately $13 billion per year damage to marine ecosystems. Recently UK, USA, New-Zealand and India has banned them.
• What are microbeads?
• Microbeads are tiny plastic substances measuring less than five millimetres that act as exfoliators (agents which remove dead cells) on skin and teeth when used in soap, toothpaste and other products. Hence statement 1 is incorrect and statement 2 is correct.
• Government efforts:
• India has taken pledge to “Beat Plastic Pollution” by eliminating single-use plastic by 2022. About 22 states and UT has already banned single use plastic.
• In 2021, the environment ministry already prohibited polythene bags smaller than 75 microns; the previous maximum was 50 microns.
• Beginning in December 2022, polythene bags smaller than 120 microns will also be prohibited.

EXPLANATION

• Major Economies Forum on Energy and Climate (MEF)
• News: At the virtual meeting of MEF, Union Minister calls upon the members of MEF to launch a global movement on LIFE i.e., Lifestyle for Environment
• About MEF:
• It was launched in 2009 by US President Barack Obama.
• The MEF aims to foster open communication between significant developed and developing economies, foster the political leadership for the UN climate change agenda.
• India at MEF 2022:
• India has already put in place 159 GW of capacity for producing power without the use of fossil fuels. Hence statement 1 is correct.
• Over the previous 7. India's installed solar energy capacity has grown more than 18 times in only 5 years. Hence statement 2 is correct.
• India's total GHG emissions are less than 4%, and its yearly per capita emissions are just a third of the world average. Hence statement 3 is correct.
• One of the world's largest renewable energy development strategies is helping India achieve its Panchamrit ambitions. Hence statement 4 is correct.
• Through the implementation of low carbon policies in important areas of our economy, such as the green hydrogen mission and e-mobility, India is on course to achieve its goals.

EXPLANATION:

• The 115 districts were identified from 28 states, at least one from each state, in a transparent manner by a committee of Senior Officers to the Government of India, ‘Transformation of Aspirational Districts’ initiative aims to remove this heterogeneity through a mass movement to quickly and effectively transform these districts. Hence statement (1) is correct.
• This in consultation with State Officials using a composite index of key data sets that included deprivation enumerated under the Socio-Economic Caste Census, health and education sector performance. By uplifting the districts which have shown relatively lesser progress in achieving key social outcome, India can move ahead in the human development index. Hence statement (2) is correct. (Words-112)

EXPLANATION:

• Narrow Patents: Narrow claims are generally specific to one particular invention in a product, and consist of more elements/limitations than broader claims. Patents with narrow claims tend to be easier to obtain and enforce. Hence statement (1) is correct.
• The mere discovery of a new form of a known substance that does not result in the enhancement of the known efficacy of that substance (or) the mere discovery of any new property or new use for a known substance or of the mere use of a known process, machine, or apparatus unless such known process results in a new product or employs at least one new reactant. Hence statement (2) is correct.
• Section 3(d) prevents what is known as the “evergreening” of patents in order to retain royalties from them, by taking out new patents. Section 3(d) allows for “generic competition by patenting only novel and genuine inventions.” Hence statement (3) is correct. (Words-142)

EXPLANATION:

• Under the new scheme, around 45,000 to 50,000 soldiers will be recruited annually, and most will leave the service in just four years. The new system is only for personnel below officer ranks (those who do not join the forces as commissioned officers). Hence statement (1) is correct.
• Once selected, the aspirants will go through training for six months and then will be deployed for three and a half years. At the end of the four-year period, each soldier will get Rs 11.71 lakh as a lump sum amount, which will be tax-free. Hence statement (2) is correct.
• Under the Agnipath scheme, aspirants between the ages of 17.5 years and 21 years will be eligible to apply for the total annual recruits, only 25 percent will be allowed to continue for another 15 years under permanent commission. Hence statement (3) is correct. (Words- 135)

EXPLANATION:

• The EPI is an international ranking system of countries based on their environmental health.
• It is a biennial index, first started in 2002 as the Environment Sustainability Index by the World Economic Forum in collaboration with the Yale Center for Environmental Law and Policy and Columbia University Center for International Earth Information Network. EPI 2022 uses 40 performance indicators to assess and rank 180 countries. Hence statement (1) is correct.
• The report says it uses the most recent data, and the indicators “measure how close countries are to meeting internationally established sustainability targets for specific environmental issues”. The 40 indicators are under the broad categories of climate change performance, environmental health, and ecosystem vitality. Hence statement (2) is correct. (Words-126)

EXPLANATION:

• The Department of School Education and Literacy (DoSE&L), Ministry of Education released the Performance Grading Index for Districts (PGI-D). It assesses the performance of the school education system at the District level by creating an index for comprehensive analysis. Based on the success of State PGI, 83-indicator-based PGI for District (PGI-D) has been designed to grade the performance of all districts in school education.
• The data is filled by districts through an online portal.
• The PGI-D is expected to help the state education departments to identify gaps at the district level and improve their performance in a decentralized manner. Hence option (c) is correct.

EXPLANATION:

• In ‘Kihoto Hollohan vs Zachillhu The law covering the disqualification of lawmakers and the powers of the Speaker in deciding such matters became part of the statute book in 1985 when the Tenth Schedule to the Constitution, commonly known as the ‘anti-defection law’, was adopted. A constitutional challenge to the Tenth Schedule was mounted, which was settled by the apex court in ‘Kihoto Hollohan’. Hence statement (1) is correct.
• The principal question before the Supreme Court in the case was whether the powerful role given to the Speaker violated the doctrine of basic structure — the judicial principle that certain basic features of the Constitution cannot be altered by amendments by Parliament. Hence statement (2) is correct. (Words-117)