10 PM Current Affairs Quiz : April 4, 2018

The test of ASPIRE was meant to mimic conditions that spacecraft will experience during red planet entry, descent and landing (EDL). Shortly after liftoff, ASPIRE splashed down into Atlantic Ocean, from where it was retrieved by boat. Analysis of recovered parachute, and data gathered by cameras and other instruments will help researcher’s complete design of the chute for NASA’s 2020 Mars rover.

NASA has successfully conducted Advanced Supersonic Parachute Inflation Research Experiment (ASPIRE) to test supersonic parachute that will help its space exploration missions to land on Mars. The parachute was launched aboard of sounding rocket from NASA’s Wallops Flight Facility in US. It was tested in sky, mimicking conditions of entering red planet.

Statement 1 is incorrect. Algorithmic trading in financial markets refers to transaction orders generated by using advanced mathematical models that involves automated execution of trade.  It uses mathematical models and software codes to make transaction decisions on exchanges and execute them at high speed.

Statement 2 is incorrect.  Algorithmic trading is not banned in India. The Securities Exchange Board of India (SEBI) has relaxed algorithm trading norms at commodity derivatives exchanges.  The market regulator has raised limit of trading using algorithm trading process up to 100 orders per second by user from the existing limit of 20 orders per second.

Statements 1 and 2 are correct. Statement 3 is incorrect.

EIC is an advisory body to the Central Government, which is empowered under the Act to:

Notify commodities which will be subject to quality control and/ or inspection prior to export,

Establish standards of quality for such notified commodities, and

Specify the type of quality control and / or inspection to be applied to such commodities.

Statement 1 is incorrect. The PMI is constructed separately for manufacturing and services sector.

Statement 2 is correct. PMI is a survey-based measure that asks respondents about changes in their perception of some key business variables from month before. It is calculated separately for manufacturing and services sectors and then composite index is constructed.

ISM’s PMI index was based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment. All these indicators strategically are capable of showing the business momentum in the industrial sector of an economy.

In India, there are eight core sectors comprising of coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity. The eight infrastructure sectors, constitute 40.27% of the total index of industrial production (IIP).

Core industries can be defined as main industry of the economy. In most countries, there is particular industry that seems to be backbone of all other industries and it qualifies to be the core industry.

All are non-constitutional bodies.

The NCBC is a body set up under the National Commission for Backward Classes Act, 1993.  It has the power to examine complaints regarding inclusion or exclusion of groups within the list of backward classes, and advise the central government in this regard.

The Constitution (123rd Amendment) Bill, 2017 was introduced in Lok Sabha by the Minister of Social Justice and Empowerment, Mr. Thaawarchand Gehlot on April 5, 2017.

The Bill seeks to establish the NCBC under the Constitution, and provide it the authority to examine complaints and welfare measures regarding socially and educationally backward classes.

Currently, the bill has been passed by the Rajya Sabha with with amendments.

The Ministry of Petroleum and natural Gas has successfully introduced the BS-IV grade transportation fuels across the country w.e.f April 1st 2017.

With the launch of BS-IV grade fuel, a new era of clean transportation fuels has begun which will benefit all citizens of our country by substantially reducing pollution levels. Migration to BS-IV grade fuels shows India’s resolve to cut down emissions.