10 PM Daily Current Affairs Quiz : February 4 2021

Statement 1 is correct. Electrical machinery, nuclear reactors, boilers, organic chemicals, plastic items, fertilizers are among the top import from China to India.
Statement 2 is incorrect. India trade deficit with China had an increase once in last five years; from 51.1 USD in 2016-17 to 63 USD in 2017-18.

As a measure which directly benefits Startups & Innovators in the country, especially those who are supplying products & services on e-commerce platforms, and in order to bring in more unincorporated businesses into the organized corporate sector, the incorporation of One Person Companies (OPCs) is being incentivized by amending the Companies (Incorporation) Rules.
Statement 1 is correct. Previously NRIs were not allowed to incorporate OPCs. Now any natural person, who is an Indian citizen, whether resident in India or otherwise would be allowed to form an OPC.
For being considered as a resident in India, the residency period has been proposed to be reduced to 120 days from 182 days for NRIs.
Statement 2 is incorrect. Rule relating to voluntary conversion unless OPC has completed two years from the date of incorporated is proposed to be omitted and with effect from 01.04.2021, Conversion of One Person Company into a Public company or a Private company shall be permitted anytime.

Option 1 and 2 are correct. Fiscal policy is the use of government spending and taxation to influence the economy. The most immediate effect of fiscal policy is to change the aggregate demand for goods and services.
A fiscal expansion raises aggregate demand through one of two channels. First, if the government increases its spending but keeps taxes constant, it increases demand directly. Second, if the government cuts taxes or increases transfer payments, households’ disposable income rises, and they will spend more on consumption. This rise in consumption will in turn raise aggregate demand.
Option 3 is incorrect. The repo rate adjustment is part of monetary policy and not fiscal policy. Further, an increase in repo rate reduces the money supply and lowers the demand.

Statement 1 is correct. Wetlands are the favorite habitats of the fishing cat. In India, fishing cats are mainly found in the mangrove forests of the Sundarbans, on the foothills of the Himalayas along the Ganga and Brahmaputra river valleys and in the Western Ghats.
Fishing cats have a patchy distribution along the Eastern Ghats. Apart from Sundarbans in West Bengal and Bangladesh, fishing cats inhabit the Chilika lagoon and surrounding wetlands in Odisha, Coringa and Krishna mangroves in Andhra Pradesh.
Statement 2 is incorrect. Fishing cat is protected under the Schedule I of the Wildlife Protection Act, 1972. The Convention on International Trade in Endangered Species (CITES) lists the fishing cat on Appendix II part of Article IV of CITES, which governs international trade in this species.
Statement 3 is correct. Fishing Cat (Prionailurus viverrinus) is listed as Endangered species with deceasing population trend in the IUCN Red List of Threatened Species,

Statement 1 is incorrect. Aero India is a biennial air show and aviation exhibition held in Bengaluru, India by the Defence Exhibition Organisation, Ministry of Defence.
Statement 2 is correct. Foreign exhibitors are allowed but an Indian company cannot exhibit products developed outside India.
The 13th edition of Aero India is being held currently in Bengaluru. Though the total number of exhibitors has increased to 601 against 403 in the last edition, the number of foreign exhibitors is down from 165 to 78 this year. The number of foreign delegations is also down from 44 to 14. There are 248 virtual exhibitors at the event.

Statement 1 is correct. The COVAX Facility is the global pooled procurement mechanism for COVID-19 vaccines through which COVAX will ensure fair and equitable access to vaccines for all 190 participating economies.
COVAX, the vaccines pillar of the Access to COVID-19 Tools (ACT) Accelerator, is co-led by CEPI, Gavi and WHO. The goal of COVAX is to deliver two billion doses of safe, effective vaccines that have passed regulatory approval and/or WHO prequalification by the end of 2021.
Statement 2 is incorrect. The Beijing-based biopharmaceutical company Sinovac is behind the CoronaVac, an inactivated vaccine. It works by using killed viral particles to expose the body’s immune system to the virus without risking a serious disease response.
# The Moderna and Pfizer vaccines are mRNA vaccines.

Statement 1 is correct. The Gaganyaan project has the objective of demonstrating human space flight capability to Low Earth Orbit (LEO) with three crew members in orbit and safely recovering them after the mission.
Statement 2 is incorrect. ISRO’s heavy lift launcher, GSLV MkIII is identified for the Gaganyaan Mission and the process for human rating of GSLV MkIII is in progress. The high thrust solid propellant strap-on boosters S200 play an important role in the Human Rated GSLV MkIII. In order to human rate the booster, many new design features have been introduced in the hardware.

Statement 1 is correct. Lithium does not occur as the metal in nature, but is found combined in small amounts in nearly all igneous rocks and in the waters of many mineral springs. Spodumene, petalite, lepidolite, and amblygonite are the more important minerals containing lithium.
Statement 2 is correct. Lithium metal is made into alloys with aluminium and magnesium, improving their strength and making them lighter. A magnesium-lithium alloy is used for armour plating. Aluminium-lithium alloys are used in aircraft, bicycle frames and high-speed trains.
Statement 3 is correct. Lithium carbonate is used in drugs to treat manic-depressive disorder (bipolar disorder). It works to stabilize the mood and reduce extremes in behavior by restoring the balance of certain natural substances (neurotransmitters) in the brain.
# Preliminary survey shows deposits of Lithium in Mandya district of Karnataka.

Both statements are correct.
Orobanche are aggressive root parasitic weeds, which attack strategic food crops, such as legumes and vegetables, and threaten the livelihood of many nations. The continuous spread of Orobanche limits the choice of rotational crops and often force farmers to give up growing the most profitable host crops.
Heavy Orobanche infestation does not only lead to a complete crop failure, but make field soils Orobanche-sick over a long period of time, preventing the reasonable production of legumes and vegetables in the infested fields for many years to come.
# A field workshop on “Techno-management options to control Orobanche in mustard-a pilot study” was jointly organized by Institute of Pesticide Formulation Technology (IPFT) and the ICAR-Directorate of Rapeseed-Mustard Research (ICAR-DRMR at village Gurda Nandi in the Bharatpur district.

Both statements are correct.
The Global Risks Report 2021, 16th Edition has been released by the World Economic Forum which shares the results of the latest Global Risks Perception Survey (GRPS).
Among the highest likelihood risks of the next ten years are extreme weather, climate action failure and human-led environmental damage; as well as digital power concentration, digital inequality and cybersecurity failure. Among the highest impact risks of the next decade, infectious diseases are in the top spot, followed by climate action failure and other environmental risks; as well as weapons of mass destruction, livelihood crises, debt crises and IT infrastructure breakdown.