2nd Feb 2021 Current Affairs
1. According to the Union Budget for 2021-22, FDI limit has been increased to 49% to 74% for which sector?
A. Industry Sector
B. Services Sector
C. Insurance Sector
D. Agricultural Sector
Answer - The correct answer to the MCQ is an option – C
According to the Union Budget for 2021-22, FDI limit has been increased to 49% to 74% for Insurance Sector. To attract more overseas capital inflows, finance minister Nirmala Sitharaman on Monday increased the foreign direct investment (FDI) limit in the insurance sector from the existing 49% to 74%. "I propose to amend the Insurance Act, 1938 to increase the permissible FDI limit from 49% to 74% in insurance companies and allow foreign ownership and control with safeguards," the finance minister said while presenting the Budget 2021-22.
According to experts, the COVID-19 pandemic has shown that further penetration of insurance in India is needed and for that capital, the infusion is required. Life insurance penetration in the country is 3.6% of the GDP, way below the global average of 7.13%. For general insurance, it is even worse at 0.94% of GDP, as against the world average of 2.88%.
In 2015, the government hiked the FDI cap in the insurance sector from 26% to 49%. The government has earlier allowed 100% foreign direct investment in insurance intermediaries. Intermediary services include insurance brokers, reinsurance brokers, insurance consultants, corporate agents, third party administrators, surveyors and loss assessors.
2. Which among the following is to be notified as a regulator of proposed spot gold exchange in Union Budget for 2021-22?
A. RBI
B. SBI
C. SEBI
D. M/o Finance
Answer - The correct answer to the MCQ is an option – C
Securities and Exchange Board of India (SEBI) is to be notified as a regulator of proposed spot gold exchange according to the Union Budget for 202-22. “In the budget of 2018-19, the government had announced its intent to establish a system of regulated gold exchanges in the country. For the purpose, Sebi will be notified as the regulator and the Warehousing Development and Regulatory Authority (WDRA) will be strengthened to set up a commodity market ecosystem arrangement including vaulting, assaying, logistics etc in addition to warehousing,” Finance Minister Nirmala
Sitharaman said in her budget speech. The responsibility to regulate the proposed exchange for spot gold has fallen on the Securities and Exchange Board of India. The Securities and Exchange Board of India is the regulator of the securities and commodity market in India owned by the Government of India. It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act. SEBI is headquartered in Mumbai.
3. The 2021 Union Budget has talked about how many pillars?
A. 8
B. 2
C. 4
D. 6
Answer - The correct answer to the MCQ is an option – D
The 2021 Union Budget has talked about how many Six pillars. Finance minister Nirmala Sitharaman began her Union Budget 2021-22 presentation on Monday in the Lok Sabha. In her budget speech, Sitharaman mentioned that this year's budget focused on six pillars- health and wellbeing, physical and financial capital, and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation and R&D and minimum government and maximum governance.
4. Budget 2021 talks about constructing how many National Institutes for Virology in India?
A. 5
B. 9
C. 4
D. 2
Answer - The correct answer to the MCQ is an option – C
Budget 2021 talks about constructing four National Institutes for Virology in India FM also announced a new centrally sponsored scheme, PM Atma Nirbhar Swasth Bharat Yojana, that would be launched with an outlay of about ₹64,180 crores over 6 years to improve primary, secondary, and tertiary care health systems, strengthen existing national institutions, create new institutions, to cater to detection and cure of new and emerging diseases. This scheme aims to support 17,788 rural and 11,024 urban Health and Wellness Centers, establish integrated public health labs in all districts, strengthen the National Centre for Disease Control (NCDC), its five regional branches and 20 metropolitan health surveillance units, establish nine Bio-Safety Level III laboratories and four regional National Institutes of Virology. Virology is the study of viruses and virus-like agents, including (but not limited to) their taxonomy, disease-producing properties, cultivation and genetics. It is often considered a part of microbiology or pathology.
5. According to Union Budget for 2021-22 Ujjwala Scheme will be extended to cover how may more beneficiaries?
A. One Crore
B. Two Crore
C. Three Crore
D. Four Crore
Answer - The correct answer to the MCQ is an option – A
According to Union Budget for 2021-22 Ujjwala Scheme will be extended to cover one crore more beneficiaries. Ujjwala Scheme, which has already benefitted 8 crore households, will be extended to cover 1 crore more beneficiaries. 100 more districts will be being added to the City Gas Distribution Network in the next three years. A Gas pipeline project will be taken up in the Union Territory of Jammu and Kashmir.
An Independent Gas Transport System Operator will be set up for facilitation and coordination of booking of common carrier capacity in all-natural gas pipelines on a non-discriminatory open access basis.
6. Recently in which ASEAN country military seized power and announced one-year emergency.
A. Cambodia
B. Laos
C. Timor-Leste
D. Myanmar
Answer - The correct answer to the MCQ is an option – D
Recently in Myanmar which is an ASEAN country military seized power and announced a one-year emergency. Myanmar's military seized power in a bloodless coup and detaining democratically elected leader Aung San Suu Kyi, the State Counsellor of Myanmar. Aung San Suu Kyi is a Nobel Peace Prize laureate and the first State Counsellor, she played a vital role in Myanmar's transition from military junta to partial democracy in the 2010s.
Aung San Suu Kyi is the daughter of Aung San, Father of the Nation of modern-day Myanmar. Myanmar (formerly Burma) is a Southeast Asian nation. Capital of Myanmar is Naypyitaw and Currency of Myanmar is known as Burmese kyat. The largest city in Myanmar is Yangon. Myanmar is a member of the East Asia Summit, Non-Aligned Movement, ASEAN, and BIMSTEC, but it is not a member of the Commonwealth of Nations. It is a country rich in jade and gems, oil, natural gas, and other mineral resources.
7. ‘Mo Jungle’ & ‘Know Your Forest Land’ Mobile Apps Launched by which State Government?
A. Chhattisgarh
B. Maharashtra
C. Odisha
D. Madhya Pradesh
Answer - The correct answer to the MCQ is an option – C
‘Mo Jungle’ & ‘Know Your Forest Land’ Mobile Apps Launched by state government of Odisha. Forestry in India is a significant rural industry and a major environmental resource. India is one of the ten most forest-rich countries in the world. Together, India and these other 9 countries account for 67 per cent of the total forest area of the world. Odisha is one of the top five states among the largest area under forest cover.
Headquartered in Dehradun, Forest Survey of India (FSI), is a premier national organization under the Union Ministry of Environment and Forests, responsible for assessment and monitoring of the forest resources of the country regularly. Forest Survey of India established in 1981.
8. Who would be the first Indian private entity to develop and manufacture a military aircraft in India?
A. L&T Defence
B. Tata Group
C. Reliance Defence
D. Bharat Forge
Answer - The correct answer to the MCQ is an option – B
In a first for the private sector, the Tata Group will develop and manufacture a full military-grade aircraft in India, has acquired intellectual property rights for a German-origin platform. The plan is to integrate indigenous sensors and payloads to convert it into an intelligence-gathering asset.
The high-altitude, twin-engine aircraft, capable of playing multiple roles from signal intelligence to cross-border surveillance, is currently in the final stages of testing in Germany. It is likely to arrive in India in the next three months for further integration.
This would be the first time that an Indian private entity is looking at making a full military-grade aircraft, which until now has been the domain of the state-owned Hindustan Aeronautics Tata Advanced Systems Limited (TASL) will showcase the capabilities of the aircraft at Aero India- 2021 on Feb 3 in Bengaluru next week. Tata Advanced Systems Limited is a fully owned subsidiary of Tata Sons, a holding company for the Tata Group and it is headquartered in Hyderabad.
9. Indian Coast Guard celebrated it's which foundation day on 1 February?
A. 44th
B. 45th
C. 46th
D. 47th
Answer - The correct answer to the MCQ is an option – B
The Indian Coast Guard is a multi-mission organization, conducting round-the-year real-life operations at sea. Despite being relatively small, it has a wide range of task capabilities for both surface and air operations. The organization is headed by the Director-General Indian Coast Guard (DGICG) exercising his overall command and superintendence from the Coast Guard Headquarters (GCHQ) located at New Delhi. At GCHQ, he is assisted by four Deputy Director Generals of the rank of Inspector General, and other senior officers heading various staff divisions. For effective command and control, the Maritime Zones of India are divided into five Coast Guard Regions, namely, North- West, West, East, North-East and Andaman & Nicobar, with the respective Regional Headquarters located at Gandhinagar, Mumbai, Chennai, Kolkata and Port Blair. The Coast Guard Regions are commanded by Officers of the rank of Inspector General. The regions are further divided into twelve Coast Guard ‘Districts’, one each for the nine coastal states on the mainland, two in the Andaman & Nicobar Region, and one at Kavaratti in the Lakshadweep and Minicoy Islands. Each Coast Guard.
The district comprises of one or more Coast Guard Stations. In addition, there are Coast Guard Air Stations (CGAS) and Air Enclaves (CGAE) for air operations from various locations along the coastline. Krishnaswamy Natarajan is the current Director-General of the Indian Coast Guard Indian Coast Guard was founded on 1 February 1977. Motto(s) of India Coast Guard is वयम्रक्षामः ('We protect’).
10. Name the Dutch Nobel laureate died recently, who coined the term 'Anthropocene and warned of the ozone hole.
A. Didier Queloz
B. Paul Jozef Crutzen
C. James Peebles
D. Roger Penrose
Answer - The correct answer to the MCQ is an option – B
Paul Jozef Crutzen, a Dutch Nobel laureate who coined the term 'Anthropocene and warned of the ozone hole Paul Jozef Crutzen was a Dutch atmospheric chemist. In addition to studying the ozone layer and climate change, he popularized the term Anthropocene to describe a proposed new era when human actions have a drastic effect on the Earth. He was also amongst the first few scientists to introduce the idea of nuclear winter to describe the potential climatic effects stemming from large-scale atmospheric pollution including smoke from forest fires, industrial exhausts, and other sources like oil fires.
Paul Jozef Crutzen discovered in 1970 that nitrogen pollution was capable of destroying ozone in the atmosphere, a critical layer that protects living things from the sun’s ultraviolet radiation. The implications were potentially dangerous, as this ozone gas thinned into a “hole” above the Southern Hemisphere that threatened to leave millions of people exposed. Crutzen shared the 1995 Nobel Prize in Chemistry for discovering the risk to the ozone layer.
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