Syllabus

• Prelims – GOVERNMENT SCHEMES

Context: Recently, Atal Pension Yojana (APY) enrolments crossed the 6 crore mark.

Background:-          

• The total enrolment under the Atal Pension Yojana (APY) has crossed 6 crore, with over 79 lakh enrolments in the current Financial Year.

About Atal Pension Yojana (APY):-

• Atal Pension Yojana (APY) is an old-age income security scheme for all savings account holders between the age group 18-40 years.
• The scheme also addresses the longevity risks among the workers in the unorganized sector and encourages the workers to voluntarily save for their retirement.
• Under APY, the individual subscribers shall have the option to make the contribution on a monthly basis.
• Banks will be collecting  additional amounts for delayed payments, such amount will vary from a minimum of Rs. 1 per month to Rs 10/- per month as shown below:
• 1 per month for contributions up to Rs. 100 per month.
• 2 per month for contributions up to Rs. 101 to 500/- per month.
• 5 per month for contributions between Rs 501/- to 1000/- per month.
• 10 per month for contributions beyond Rs 1001/- per month.
• Discontinuation of payments of contribution amount shall lead to the following:-
• After 6 months account will be frozen.
• After 12 months account will be deactivated.
• After 24 months account will be closed.
• Upon exit on attaining 60 years
• The subscriber shall receive the following three benefits on attaining the age of 60:
  • Guaranteed minimum pension amount: Each subscriber under APY shall receive a guaranteed minimum pension of Rs. 1000 per month or Rs. 2000 per month or Rs. 3000 per month or Rs. 4000 per month or Rs. 5000 per month, after the age of 60 years until death.
  • Guaranteed minimum pension amount to the spouse: After the subscriber’s demise, the spouse of the subscriber shall be entitled to receive the same pension amount as that of the subscriber, until the death of the spouse.
  • Return of the pension wealth to the nominee of the subscriber: After the demise of both the subscriber and the spouse, the nominee of the subscriber shall be entitled to receive the pension wealth, as accumulated till age 60 years of the subscriber.
• The contributions to the Atal Pension Yojana (APY) are eligible for tax benefits similar to the National Pension System (NPS) under section 80CCD(1).
• Voluntary exit (Exit before 60 Years of age): –
  • The subscriber shall only be refunded the contributions made by him to APY along with the net actual accrued income earned on his contributions (after deducting the account maintenance charges).
  • Exception: In the case of subscribers who joined the scheme before 31st March 2016 and received Government Co-Contribution shall not receive the Government co-contribution and the accrued income earned on the same, if opted for Voluntary exit before 60 years.
• Age of joining and contribution period
  • The minimum age for joining APY is 18 years and the maximum age is 40 years.
  • The age of exit and start of pension would be 60 years.

Exclusions:-

• Tax Payers will not be eligible to join APY from 1 Oct 2022.
• Members of the statutory social security scheme are not eligible under this scheme.
• Members enrolled in statutory social security schemes like:-
  • Employees’ Provident Fund and Miscellaneous Provision Act, 1952.
  • The Coal Mines Provident Fund and Miscellaneous Provision Act, 1948.
  • Assam Tea Plantation Provident Fund and Miscellaneous Provision, 1955.
  • Seamens’ Provident Fund Act, 1966.
  • Jammu Kashmir Employees’ Provident Fund and Miscellaneous Provision Act, 1961.
  • Any other statutory social security scheme. 

MUST READ: National Pension System

SOURCE: PIB

PREVIOUS YEAR QUESTIONS

Q.1) Atal Innovation Mission is set up under the (2019)

1. Department of Science and Technology
2. Ministry of Labour and Employment
3. NITI Aayog
4. Ministry of Skill Development and Entrepreneurship

Q.2) Who among the following can join the National Pension System (NPS)? (2017)

1. Resident Indian citizens only
2. Persons of age from 21 to 55 only
3. All State Government employees joining the services after the state of notification by the respective State Governments
4. All Central Government employees including those of Armed Forces joining the services on or after 1st April 2004.

Syllabus

• Prelims –ENVIRONMENT AND ECOLOGY

Context: Recently, DRI rescued 436 baby Indian Tent Turtles in Lucknow.

Background:-

• Acting on the basis of specific intelligence developed by Directorate of Revenue Intelligence (DRI), Zonal Unit, Lucknow, seized 436 baby Indian Tent turtles from a person illegally transporting them interstate.

About Indian Tent Turtles:-

• Family: Geoemydidae
• Genus :    Pangshura
• Species :   tentoria
• The size of the carapace ranges from 20 cm to 26.5 cm depending upon the subspecies.
• The colour of the turtles also varies according to each subspecies.
• Subspecies tentoria has an olive or brownish head with a red postocular spot, the carapace is brown in colour with amber or hazel stripe in the first three vertebras and the plastron is yellow with black blotches.
• A semi-aquatic species, mainly found in rivers and associated systems.
• Reproduction is oviparous.

Distribution:-

• The species is native to India, Nepal and Bangladesh, with three subspecies recorded from the region viz., P. t. tentoria, P. t. circumdata and P. t. flaviventer. P. t. tentoria occurs in peninsular India and is recorded from Orissa, Maharashtra, Andhra Pradesh, Assam and Madhya Pradesh. P. t. circumdata occurs in the western tributaries of the Ganga and the rivers of Gujarat.

Threats:-

• Damming of river (Turtle Conservation)
• Habitat degradation

Conservation Status:-

• IUCN: Least concern
• IWPA: Schedule I
• CITES: Appendix II

MUST READ: National Marine Turtle Action Plan

SOURCE: PIB

 PREVIOUS YEAR QUESTIONS

Q1. Which of the following organisms perform the waggle dance for others of their kin to indicate the direction and the

distance to a source of their food? (2023)

1. Butterflies
2. Dragonflies
3. Honeybees
4. Wasps

Q2. Consider the following fauna : (2023)

1. Lion-tailed Macaque
2. Malabar Civet
3. Sambar Deer

How many of the above are generally nocturnal or most active after sunset?

1. Only one
2. Only two
3. All three
4. None

Syllabus

• Prelims –ECONOMY/ IMPORTANT INSTITUTIONS

Context: Recently, the Indian Institute of Corporate Affairs (IICA) will hold ‘National Conference on Responsible Business Conduct 2023.

Background:-

• The Indian Institute of Corporate Affairs (IICA), an autonomous institution under the Ministry of Corporate Affairs, Govt. of India, will hold the ‘National Conference on Responsible Business Conduct 2023: Embracing ESG in India’ on 14th and 15th December 2023

About Indian Institute of Corporate Affairs (IICA):-

• Established: 2008.
• Ministry: Ministry of Corporate Affairs.
• IICA was registered as a society on September 12, 2008, under the Societies Registration Act, 1860.
• It is an autonomous institute.
• It works to deliver opportunities for research, education, and advocacy.
• It is also a think tank that curates a repository of data and knowledge for policy makers, regulators as well as other stakeholders working in the domain of corporate affairs.
• It was set up as the premier organization that aims to provide astute and credible intellectual leadership in corporate regulation, governance and running sustainable businesses.

Significnce:-

• Its objective is to continuously improve the quality of all corporate financial reporting in India.

MUST READ : Insolvency and Bankruptcy Code (Amendment) Bill, 2020

SOURCE: PIB

 PREVIOUS YEAR QUESTIONS

Q.1) In India, which one of the following compiles information on industrial disputes, closures, retrenchments and lay-offs in factories employing workers? (2022)

1. Central Statistics Office
2. Department for Promotion of Industry and Internal Trade
3. Labour Bureau
4. National Technical Manpower Information System

Q.2)With reference to the ‘Banks Board Bureau (BBB)’, which of the following statements is correct? (2022)

1. The Governor of RBI is the Chairman of BBB.
2. BBB recommends the selection of heads for Public Sector Banks.
3. BBB helps the Public Sector Banks in developing strategies and capital-raising plans.

Select the correct answer using the code given below:

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

Syllabus

• Prelims –ECONOMY

Context: Recently, retail inflation rises to 5.55% in November.

Background:-

• Consumer prices rose at a three-month high pace of 5.55% in November from 4.87% in October, with food price inflation surging to 8.7% from 6.6% driven by a surge in the inflation rate for vegetables, pulses, fruits, and sugar.

About Inflation:-

• Inflation refers to a sustained increase in the general price level of goods and services in an economy over a period of time.
• It is the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc.
• Inflation measures the average price change in a basket of commodities and services over time.
• The opposite and rare fall in the price index of this basket of items is called ‘deflation’.
• Inflation is indicative of the decrease in the purchasing power of a unit of a country’s currency.
• This is measured in percentage.

Measures of Inflation in India:-

• In India, the Ministry of Statistics and Programme Implementation measures inflation. There are two main set of inflation indices for measuring price level changes in India:-
  • Wholesale Price Index (WPI) and
  • Consumer Price Index (CPI).
• GDP deflator is also used to measure inflation.

WPI vs CPI

 Impact of inflation:-

• The purchasing power of a currency unit decreases as the commodities and services get dearer.
• This also impacts the cost of living in a country.
• When inflation is high, the cost of living gets higher as well, which ultimately leads to a deceleration in economic growth.

MUST READ: Rising Oil Prices and Stagflation

SOURCE: THE HINDU

PREVIOUS YEAR QUESTIONS

Q.1)With reference to Non-Fungible Tokens (NFTs), consider the following statements: (2022)

1. They enable the digital representation of physical assets.
2. They are unique cryptographic tokens that exist on a blockchain.
3. They can be traded or exchanged at equivalency and therefore can be used as a medium of commercial transactions.

Which of the statements given above are correct?

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

Q.2) With reference to India, consider the following statements: (2021)

1. Retail investors through Demat account can invest in Treasury Bills and Government of India Debt Bonds in the primary market
2. The “Negotiated Dealing System-Ordering Matching” is a government securities trading platform of the Reserve Bank of India.
3. The “Central Depository Services Ltd” is jointly promoted by the Reserve Bank of India and the Bombay Stock Exchange.

Which of the statements given above is/are correct?

1. 1 only
2. 1 and 2
3. 3 only
4. 2 and 3

Syllabus

• Prelims – GOVERNMENT INITIATIVES

Context: Recently, Prime Minister Narendra Modi inaugurated the ‘Global Partnership on Artificial Intelligence Summit’ (GPAI) .

Background:-

• He said that India is committed to responsible and ethical use of Artificial Intelligence (AI).
• Mr Modi stressed that Artificial Intelligence is for social development and inclusive growth.

About Global Partnership on Artificial Intelligence Summit (GPAI):-

• Date: December 2023.
• Venue: Bharat Mandapam in New Delhi. ( National Science, Technology and Innovation Policy (STIP 2020) )
• GPAI is a multi-stakeholder initiative with 29 member countries.
• It aims to bridge the gap between theory and practice on AI by supporting cutting-edge research and applied activities on AI-related priorities.
• India is the lead chair of GPAI in 2024.
• As one of the founding members of GPAI in 2020, the current incoming Support Chair of GPAI, and the Lead Chair for GPAI in 2024, India is hosting the Annual GPAI Summit from December 12-14, 2023.
• Multiple sessions on diverse topics like AI & global health, education and skilling, AI and data governance, and ML Workshop, among others will be organized during the summit.
• Other attractions at the summit include the Research Symposium, AI Gamechangers Award and India AI Expo.
• The summit will witness the participation of 50+ GPAI experts and 150+ speakers from across the countries.
• Further, Top AI Gamechangers from across the world will be participating in different events including Intel, Reliance Jio, Google, Meta, AWS, Yotta, Netweb, Paytm, Microsoft, Mastercard, NIC, STPI, Immerse, Jio Haptik, Bhashini etc.
• Besides, students who are winners under the YUVA AI initiative and start-ups will also showcase their AI models and solutions.

 MUST READ: RAISE 2020 Artificial Intelligence Summit

SOURCE: AIR

PREVIOUS YEAR QUESTIONS

Q.1) With reference to Pradhan Mantri Kaushal Vikas Yojana, consider the following statements : (2018)

1. It is the flagship scheme of the Ministry of Labour and Employment.
2. It, among other things, will also impart training in soft skills, entrepreneurship, financial and digital literacy.
3. It aims to align the competencies of the unregulated workforce of the country to the National Skill Qualification Framework.

Which of the statements given above is/are correct?

1. 1 and 3 only
2. 2 only
3. 2 and 3 only
4. 1, 2 and 3

Q.2) Recognition of Prior Learning Scheme’ is sometimes mentioned in the news with reference to (2017)

1. Certifying the skills acquired by construction workers through traditional channels.
2. Enrolling the persons in Universities for distance learning programmes.
3. Reserving some skilled jobs to rural and urban poor in some public sector undertakings.
4. Certifying the skills acquired by trainees under the National Skill Development Programme.

Syllabus

• Prelims –GEOGRAPHY

Context: Recently, the volcano Mount Marapi erupted.

Background:-

• Mount Marapi in Indonesia erupted, with 23 people dead or presumed dead.

About Mount Marapi:-

• Location: West Sumatra, Indonesia.
• Mount Merapi (Mountain of Fire) is one of the world’s most active volcanos located in Indonesia.
• It rises to 9,551 feet.
• It is located near the centre of the island of Java and Indonesia’s cultural capital,
• Mt Merapi’s last significant eruption was in 2010.
• At that time, more than 300 people were killed and some 2,80,000 residents were forced to evacuate the surrounding areas.
• Indonesia is located on the Pacific Ring of Fire.
• The local name for Mount Merapi is Gunung Merapi which can be translated to Fire Mountain or Mountain of Fire.
• Merapi is the combination of two Javanese words: “Meru” which means “Mountain” and “api” which means “fire.”
• Mount Merapi sits on a subduction zone where the Indo-Australian Plate subducts under the Eurasian Plate
• Merapi is the youngest volcano in southern Java.
• It is also the most active volcano of the roughly 129 active volcanoes in Indonesia.
• This stratovolcano has been active for roughly 10,000 years.

 MUST READ: Mt. Mauna Loa

SOURCE: INDIA TODAY

 PREVIOUS YEAR QUESTIONS

Q.1) Consider the following statements: (2022)

1. High clouds primarily reflect solar radiation and cool the surface of the Earth.
2. Low clouds have a high absorption of infrared radiation emanating from the Earth’s surface and thus cause a warming effect.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q.2) Consider the following statements: (2018)

1. The Barren Island volcano is an active volcano located in the Indian territory.
2. Barren Island lies about 140 km east of Great Nicobar.
3. The last time the Barren Island volcano erupted was in 1991 and it has remained inactive since then.

Which of the statements given above is/are correct?

1. 1 only
2. 2 and 3
3. 3 only
4. 1 and 3

Q1) Consider the following pairs:

How many of the above pairs are correctly matched?

1. Only one
2. Only two
3. All three
4. None

Q2) Consider the following statements

Statement-I :

The Indian tent turtle is native to India, Nepal and Bangladesh.

Statement-II :

It is under Appendix I of CITES.

Which one of the following is correct in respect of the above statements?

1. Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
2. Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
3. Statement-I is correct but Statement II is incorrect
4. Statement-I is incorrect but Statement II is correct

Q3) With reference to Mount Marapi, consider the following statements:

1. It is a stratovolcano.
2. It is located near the centre of the island of Java and Indonesia’s cultural capital, Yogyakarta.
3. Merapi is the oldest volcano in southern Java.

How many of the statements given above is/are correct?

1. 1 only
2. 1, 2 and 3 only
3. 1 and 2 only
4. 3 only

Comment the answers to the above questions in the comment section below!!

ANSWERS FOR ’  13th December 2023 – Daily Practice MCQs’ will be updated along with tomorrow’s Daily Current Affairs.st

Q.1) – b

Q.2) – b

Q.3) – c