Daily Quiz 22 June 2024

Answer: C

Explanation:

• Statement 1 is Correct: Alzheimer’s Disease (AD) is a progressive neurological disorder that leads to the degeneration and death of brain cells, causing memory loss and cognitive decline. It is the most common cause of dementia among older adults.
  • Symptoms: The symptoms of Alzheimer’s Disease typically develop slowly and worsen over time, affecting a person’s ability to perform daily tasks.
• Statement 2 is Correct: Alzheimer’s Disease is characterized by the accumulation of amyloid plaques and neurofibrillary tangles (tau tangles) in the brain:
  • Amyloid Plaques: These are clumps of beta-amyloid protein that can damage brain cells by disrupting cell-to-cell communication.
  • Neurofibrillary Tangles: Twisted strands of tau protein that build up inside cells and disrupt the transport system within neurons, leading to cell death.

Related Information:

• Currently more than 55 million people have dementia worldwide, over 60% of whom live in low-and middle-income countries. Every year, there are nearly 10 million new cases.
• Dementia results from a variety of diseases and injuries that affect the brain. Alzheimer disease is the most common form of dementia and may contribute to 60–70% of cases.

Dementia is currently the seventh leading cause of death and one of the major causes of disability and dependency among older people globally.

Answer: C

Explanation:

• Statement 1 is Incorrect: The Goods and Services Tax regime came into force after the Constitutional (122nd Amendment) Bill was passed by both Houses of Parliament in 2016.
  • The GST Council – a joint forum of the Centre and the States — was set up by the President as per Article 279A (1) of the amended Constitution.
  • The members of the Council include the Union Finance Minister (chairperson), the Union Minister of State (Finance) from the Centre.
    • Each State can nominate a minister in-charge of finance or taxation or any other minister as a member.
  • Functions: Following are the key functions of the GST Council:
    • As per Article 279A (4), the Council will make recommendations to the Union and the States on important issues related to GST, like the goods and services that may be subjected or exempted from GST, model GST Laws.
    • Principles that govern Place of Supply, threshold limits, GST rates including the floor rates with bands,
    • Special rates for raising additional resources during natural calamities/disasters, special provisions for certain States, etc.
  • Statement 2 is Incorrect: The decisions made by the GST Council are not binding in nature.
    • The Supreme Court of India ruled in May 2022 that the recommendations of the Goods and Services Tax (GST) Council are not mandatorily binding on either the Union or state governments.
    • The court held that the recommendations of the GST Council have only ‘persuasive value’ and are intended to foster cooperative federalism and harmony between the Centre and the states.
    • This means that while the GST Council’s recommendations are influential, they are not enforceable by law.

Answer: A

Explanation:

• Statement 1 is Correct: Switzerland is the largest source of gold imports, with about 40% share, followed by UAE (over 16%) and South Africa (about 10%).
  • The precious metal accounts for over 5% of India’s total imports.
  • At present, there is a 15% import duty on gold.
• Statement 2 is Incorrect: The Reserve Bank of India is the custodian of foreign exchange reserves.
  • The components of foreign exchange reserves include:
    • Foreign Currency Assets
    • Gold reserves
    • Special Drawing Rights (an international reserve asset created by the countries)
    • Reserve Tranche Position in the IMF.
  • Currently, Foreign Currency Assets are the largest component of foreign exchange reserves of the country, followed by gold.
  • The largest component of India’s foreign exchange reserves is foreign currency assets (FCA). As of September 2023, India’s total foreign exchange reserves stood at around USD 598.89 billion, with the FCA component at around USD 530.691 billion.
  • In contrast, the gold reserves were around USD 44.939 billion, which is approximately 7.34% of the total forex reserves.
  • The reserves also include special drawing rights (SDRs) and India’s reserve position in the International Monetary Fund (IMF).

Answer: B

Explanation:

• Statement 1 is Correct: PM PRANAM scheme was announced in the Budget 2023-24.
  • The primary objective of the PM PRANAM scheme is to encourage the balanced use of fertilizers in conjunction with biofertilizers and organic fertilizers.
  • It aims to reduce the subsidy burden on chemical fertilizers by promoting the use of alternative fertilizers.
• Statement 2 is Incorrect: The scheme does not discontinue the urea subsidy.
  • The government decided to continue urea subsidy for three years ending March 2025, with an outlay of Rs 3.68 lakh crore.
• Statement 3 is Correct: The PM PRANAM scheme is a central sector scheme meant to incentivize states and Union Territories to promote alternative fertilizers and the balanced use of chemical fertilizers.
  • 50% of the subsidy savings will be passed on to the state that saves the money as a grant.
  • Out of this grant, 70% can be used to create assets related to the technological adoption of alternate fertilizers and alternate fertilizer production units at the village, block, and district levels.
  • The remaining 30% of the grant money can be used to reward and encourage farmers, panchayats, and other stakeholders involved in fertilizer reduction and awareness generation.

Answer: C

Explanation:

The Kavli Prize is awarded for outstanding contributions to the fields of astrophysics, nanoscience, and neuroscience, recognizing pioneering scientists for their research and discoveries. The Kavli Prize is awarded in honour of Norwegian-American businessman and philanthropist Fred Kavli (1927-2013). The inaugural prize was announced in 2008, and awarded to seven scientists. Till date, 73 scientists from 19 countries have been honoured with the biennial award. Ten of them have gone on to win the Nobel Prize. Along with the US-based Kavli Foundation, the prize is given in partnership with the Norwegian Academy of Science and Letters, and the Norwegian Ministry of Education and Research.