10 PM Current Affairs Quiz : September 26

Statement 1 is correct. Pradhan Mantri Sahaj Bijli Har Ghar Yojana –“Saubhagya” for “free” electrification of all willing households

Statement 2 is correct. The  Rural Electrification Corporation Limited (REC) will be the nodal agency for the operationalisation of the scheme throughout the country.

More about scheme:

•         The scheme funds the cost of last-mile connectivity to willing households to help achieve the goal of lighting every household by 31 December 2018.

• Under the scheme, modern technology will be used for household survey by using  Mobile App.Beneficiaries shall be identified and their application for electricity connection along with applicant photograph and identity proof shall be registered on spot.
• The Gram Panchayat/Public institutions in the rural areas may be authorised to collect application forms along with complete documentation, distribute bills and collect revenue in consultation with the Panchayat Raj Institutions and Urban Local Bodies.

Both the above statements are incorrect.

Statement 1 is incorrect. Bio-fortification is very important in overcoming hidden hunger caused by micronutrient deficiencies such as iron, iodine, zinc, vitamin A, and vitamin B12.

Statement 2 is incorrect. Women make up half of agricultural laborers, but carry out nearly 70% of all farm work.

Knowledge Base: Fortification is the practice of deliberately increasing the content of an essential micronutrient, that is vitamins and minerals (including trace elements) in a food, so as to improve the nutritional quality of the food supply and provide a public health benefit with minimal risk to health.

Biofortification is the process by which the nutritional quality of food crops is improved through agronomic practices, conventional plant breeding, or modern biotechnology.

• Biofortification differs from conventional fortification in that biofortification aims to increase nutrient levels in crops during plant growth rather than through manual means during processing of the crops.
• Biofortification may therefore present a way to reach populations where supplementation and conventional fortification activities may be difficult to implement and/or limited

Statement 1 is incorrect. The Pradhan Mantri Awas Yojana (Urban)  was launched by the Ministry of Housing and Urban Poverty Alleviation (MoHUPA), in Mission mode envisions provision of Housing for All by 2022, when the Nation completes 75 years of its Independence.

Statement 2 is incorrect. The Mission seeks to address the housing requirement of urban poor including slum dwellers through following programme verticals:

Slum rehabilitation of Slum Dwellers with participation of private developers using land as a resource

Promotion of Affordable Housing for weaker section through credit linked subsidy

Affordable Housing in Partnership with Public & Private sectors

Subsidy for beneficiary-led individual house construction /enhancement.

Statement 3 is correct. Eligible buyers can get Central assistance of about Rs. 2.50 lakh per house as interest subsidy on bank loans or can get upto Rs. 1.50 lakh otherwise as one time assistance. This policy aims to attract investments from developers through the PPP model

Every household in the country, whether it is in a village or a city or in a far-flung area, will be given an electricity connection.

Statement 1 is correct. Generally fiscal deficit takes place either due to revenue deficit or a major hike in capital expenditure. Capital expenditure is incurred to create long-term assets such as factories, buildings and other development. The fiscal deficit is the difference between the government’s total expenditure and its total receipts (excluding borrowing).

Statement 2 is correct. Fiscal consolidation is a reduction in the underlying fiscal deficit. So, by increasing revenues and decreasing expenditure, we can undertake fiscal consolidation. While getting more loans may increase receipts, it will not help in fiscal consolidation as that loan has to be repaid back along with interest. So loans add more to the expenditure than it contributes to receipts. Increasing taxes and reducing subsidies will of course increase revenues and decrease expenditure respectively contributing to fiscal consolidation.

Prime Minister Narendra Modi has launched Rs 16,320-crore scheme to supply electricity to all households by December 2018, providing free connections to the poor and at very low cost to others. The Pradhan Mantri Sahaj Bijli Har Ghar Yojna, named ‘Saubhagya’, aims to improve the environment, public health, education and connectivity with the help of last-mile power connections across India. It will help reduce the use of kerosene lamps in non-electrified households.

The committee was created in 2016 to bring transparency and accountability in fixing India’s Monetary Policy. Thus, statement 1 is true.

The committee is answerable to the Government of India if the inflation exceeds the range prescribed for three consecutive months. Thus, statement 2 is false.

The Monetary Policy Committee of India is a committee of the Reserve Bank of India that is responsible for fixing the benchmark interest rate in India. The committee comprises of six members – three officials of the Reserve Bank of India and three external members nominated by the Government of India. The Governor of Reserve Bank of India is the chairperson ex officio of the committee.