Daily Quiz: UPSC Prelims Marathon – October 17

Only statement 2 is correct:

• The government has set up a high-level committee under Rajiv Kumar,Vice chairperson of NITI AAYOG to evolve a strategy for management of the region’s water resources.
• “The committee will facilitate optimising benefits of appropriate water management in the form of hydro-electric power, agriculture, bio-diversity conservation, reduced flood damage erosion, inland water transport, forestry, fishery and eco-tourism

Statement 1 is incorrect:

The Securities and Exchange Board of India (Sebi) has set up a committee under the chairmanship of Uday Kotak, executive vice chairman and managing director of Kotak Mahindra Bank Ltd, to advise it on issues relating to corporate governance in Indian firms.

Sebi said the committee will advise the markets regulator on areas such as ensuring the active participation of independent directors in the functioning of companies; improving safeguards and disclosures pertaining to related-party transactions; issues in accounting and auditing practices by listed firms; improving effectiveness of board evaluation practices; addressing issues faced by investors on voting and participation in general meetings; and disclosure- and transparency-related issues.

Statement 3 is incorrect:

• Commerce and industry minister has constituted a task force on artificial intelligence (AI) to ensure “India’s economic transformation”.
• The 18-member panel will be headed by Dr. V. Kamakoti of IIT Madras. It will comprise of experts, academics, researchers and industry leaders.

The committee will focus on a wide spectrum of areas including agriculture and transportation

Important fact about PLI:

• PLI, introduced in 1884, is one of the oldest life insurance schemes for benefit of government and semi-government employees
• In the beginning, the upper limit of life insurance was only Rs 4000, which has now increased to Rs 50 lakh.
• It covers employees of Central and state governments, Central and state public sector undertakings, universities, government-aided educational institutions, nationalized banks, local bodies, autonomous bodies, joint ventures having a minimum of 10% Govt./PSU stake, credit co-operative societies etc.
• PLI also extends the facility of insurance to the officers and staff of the Defence services and para-military forces. Apart from single insurance policies, Postal Life Insurance also manages a group insurance scheme for the extra departmental employees (Gramin Dak Sevaks) of the Department of Posts.

Now the benefits of Postal Life Insurance (PLI) will no more be confined to government and semi-government employees only, but will also be available to professionals such as doctors, engineers, management consultants, chartered accountants, architects, lawyers, bankers etc. and to the employees of listed companies of NSE (National Stock Exchange) and BSE (Bombay Stock Exchange). The decision has been taken to enlarge the cover of social security and bring the maximum number of people under the protection of Postal Life Insurance (PLI).

2 Pair is incorrectly matched

Global Gender Gap report :

The Global Gender Gap Report was first published in 2006 by the World Economic Forum. The 2016 report covers 144 major and emerging economies. The Global Gender Gap Index is an index designed to measure gender equality.

1 and 3 pair is correctly matched:

World wildlife crime report:

The World Wildlife Crime Report by United Nation office of drug and crimes takes stock of the present wildlife crime situation with a focus on illicit trafficking of specific protected species of wild fauna and flora, and provides a broad assessment of the nature and extent of the problem at the global level. It includes a quantitative market assessment and a series of in-depth illicit trade case studies.

Global hunger Index:

The Global Hunger Index (GHI) is designed to comprehensively measure and track hunger globally and by country and region. Calculated each year by the International Food Policy Research Institute (IFPRI), the GHI highlights successes and failures in hunger reduction and provides insights into the drivers of hunger. By raising awareness and understanding of regional and country differences in hunger, the GHI aims to trigger actions to reduce hunger.

• STRIVE scheme shall incentivize ITIs to improve overall performance including apprenticeship by involving SMEs, business association and industry clusters.
• The schemes aim to develop a robust mechanism for delivering quality skill development training by strengthening institutions such as State Skill Development Missions (SSDMs), National Skill Development Corporation (NSDC), Sector Skill Councils (SSCs), ITIs and National Skill Development Agency (NSDA) etc.
• The schemes shall support universalization of National Skills Qualification Framework (NSQF) including National Quality Assurance Framework (NQAF) across the skill development schemes of central and state government’s thus ensuring standardization in skill delivery, content and training output.
• The schemes shall provide the required impetus to the National Skill Development Mission, 2015 and its various sub missions. The schemes are aligned to flagship Government of India programs such as Make in India and Swachhta Abhiyan and aim at developing globally competitive workforce for domestic and overseas requirements. To this end, over 700 industry led institutions are being set up for providing job oriented skill training to lakhs of aspirants.
• An innovative challenge fund model has been employed to select and support proposals to set up such institutions in identified sectors and geographies. 66+ India International stalling institutions are being promoted to focus upon skill training as per global standards for overseas placements

Over 30,000 aspirants shall be trained in IISCs and get certificates from International Awarding Bodies (lABs). Upgrading 500 ITIs, as model ITIs across India and improving their industry connect, is also envisaged by ushering in reforms such as on-line examination, centralised admission, improving efficiency and transparency in the system

Angel investors invest in small startups or entrepreneurs. Often, angel investors are among an entrepreneur’s family and friends. The capital angel investors provide may be a one-time investment to help the business propel or an ongoing injection of money to support and carry the company through its difficult early stages. Angel investors provide more favorable terms compared to other lenders, since they usually invest in the entrepreneur starting the business rather than the viability of the business. Angel investors are focused on helping startups take their first steps, rather than the possible profit they may get from the business. Essentially, angel investors are the opposite of venture capitalists.

Angel investors are also called informal investors, angel funders, private investors, seed investors or business angels. These are affluent individuals who inject capital for startups in exchange for ownership equity or convertible debt. Some angel investors invest through crowdfunding platforms online or build angel investor networks to pool in capital.

Capital Expenditures

Capital Expenditure is that expenditure which results in increasing of government asset (giving out loans) or reduce in some liability (paying back old loans). Following are the key examples of capital expenditures.

• Loan disbursals
• The loans given by the Government to the states, PSUs and other governments come under Capital Expenditures because such loans are assets of the government.
• Loan Repayments
• The loans that were borrowed in past but are now returned back are included in the capital expenditures; because they result in reduction of liability.
• Expenditures  resulting in asset creation

The government’s budget expenditures on infrastructure, machinery, land, roads, bridges etc. and purchase of arms and equipments, modernization of the army etc. are also Capital Expenditures.