10 PM Current Affairs Quiz: June 1, 2020

The McMahon Line is the boundary line between the Tibetan region of China and the North-east region of India as per the 1914 Shimla convention signed between Tibetan and British representatives.

The LAC is the demarcation separating the Indian-controlled territory from Chinese-controlled territory.

The Radcliffe Line was the boundary demarcation line between the Indian and Pakistani portions of the Punjab and Bengal provinces of British India; it was named after Cyril Radcliff, chairperson of the boundary commissions.

Statement 1 is correct. The SCO comprises eight Member States: China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan.

The G20 is made up of 19 countries and the European Union. The 19 countries are Argentina, Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, the UK and the US.

Statement 2 is incorrect. Regional Comprehensive Economic Partnership (RCEP) is the free trade agreement between ASEAN countries and its FTA partners including China. India is an FTA partner of ASEAN but opted out of RCEP in November 2019. 

Statement 1 is correct. A Universal Basic Income would provide cash at hand; therefore inflation could be triggered because of the increase in demand for goods and services.

Statement 2 is correct. Free income may disincentivize people to get jobs, and make work seem optional. People would have the freedom to return to school, finish college or stay home to care for a relative and thereby reduce the labor force participation rate.

Statement 1 is incorrect. UDAN-RCS (Ude Desh ka Aam Naagrik) is a regional airport development and “Regional Connectivity Scheme” (RCS) to further enhances the connectivity to remote and regional areas of the country.

Statement 2 is correct. The payment of VGF is made to the Selected Airline Operator from the RCF and the State Governments are asked to reimburse the applicable share (20% for states other than for North-Eastern States and Union Territories of India, where the ratio will be 10%) towards VGF for respective RCS Routes.

‘Viability Gap Funding or VGF’ means the financial support provided to the Selected Airline Operator for operation of RCS Flight(s) from the Regional Connectivity Fund (RCF) of the Scheme. VGF is provided for RCS Flights for a period of three years from the date of commencement of operations of such RCS Flights.

Statement 1 is correct. The Code on Occupation Safety, Health and Working Condition 2019 applies to organisations employing at least 10 workers, and to all mines and docks; covering both employees and workers.  Employees include individuals in managerial and administrative positions as well.

Statement 2 is correct. The Code provides for Occupational Safety and Health Advisory Boards at the national and state level to be set up by respective governments to advise them on the standards, rules, and regulations to be framed under the Code.

Statement 3 is incorrect. Wages are not defined in this Code. According to the Code on Wages, 2019, the central government will fix a floor wage, considering living standards of workers.

Note: As of today (01-06-2020) the Code on Occupation Safety, Health and Working Condition 2019 is yet to be passed by the parliament. The standing committee submitted its report on Feb 11, 2020.

Statement 1 is correct. The Policy tracker of IMF summarizes the key economic responses governments are taking to limit the human and economic impact of the COVID-19 pandemic. The tracker includes 193 economies.

Statement 2 is incorrect. No such provision has been announced. As per the IMF; the tracker focuses on discretionary actions and might not fully reflect the policies taken by countries in response to COVID-19, such as automatic insurance mechanisms and existing social safety nets which differ across countries in their breadth and scope. The information included is not meant for comparison across members.

Option 1 is correct. The preamble states that it “…aims to secure to all its citizens: JUSTICE, social, economic and political; LIBERTY of thought, expression, belief, faith and worship…”

Option 2 is incorrect. There is no explicit provision of Social Justice in Fundamental duties under the constitution.

Option 3 is correct. Article 38(1) in the Constitution of India states that the State shall strive to promote the welfare of the people by securing and protecting as effectively as it may a social order in which justice, social, economic and political, shall inform all the institutions of the national life.

Falcon 9 is a launch vehicle designed and manufactured by a commercial company SpaceX of the United States.

Ariane 5 is a space launch vehicle developed and operated by Arianespace for the European Space Agency.

Soyuz is a family of rocket launch systems developed by Russia.

Both statements are correct.

The Group of Seven (G7) is an international intergovernmental economic organization consisting of the seven advanced economies in the world: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.

In response to mounting concern over money laundering, the Financial Action Task Force on Money Laundering (FATF) was established by the G-7 Summit that was held in Paris in 1989.

The Amery Ice Shelf (AIS) is one of the largest glacier drainage basins in the world located on the east coast of Antarctica.

The National Centre for Polar and Ocean Research (NCPOR), Goa has predicted a 24 per cent increase in the expansion of the Amery Ice Shelf (AIS) boundaries in Antarctica by 2021 and another 24 per cent by 2026 from its 2016 positions.