February 14 2025 Current Affairs MCQs

Explanation

Statement 1 is correct

• The new Income-Tax Bill, 2025, introduces key simplifications and adjustments to streamline the tax system, with a new ‘tax year’ concept and reduced complexity.
• The Bill defines the ‘tax year’ as the 12-month period beginning April 1, marking a shift from the cur-rent ‘assessment year’ system.

Statement 2 is incorrect

• The Bill retains the old tax regime alongside the new one, ensuring continuity in the tax structure.
• Key provisions like TDS, presumptive taxation rates, and assessment time limits are now presented in an easily understandable tabular format.
• Deductions like standard deduction, gratuity, and leave encashment have been consolidated in one place for easier access.

Statement 3 is correct

• Expanded Definition of Income:
  • Virtual Assets as Capital Assets: Virtual digital assets are now included in the definition of property and counted as capital assets along with immovable property, shares, jewelry, and art.
  • Capital Gains Exemptions Removed: Section 54E, which offered capital gains exemptions for assets transferred before April 1992, has been removed. Outdated exemptions have also been streamlined.
  • Revenue Recognition & Inventory Valuation: New sections address revenue recognition for service contracts and inventory valuation at lower cost or net realizable value.

Answer: (b) Only two; Difficulty Level: Medium

Explanation

Statement 1 is correct

• About Nari Adalat (Women’s Court):
  • Initially launched in 2023 on a pilot basis in 50-gram panchayats each in Assam and Jammu & Kashmir.
  • The program is now being expanded to other states and UTs.
  • These Adalat’s will be exclusively dedicated to women and girls, as a platform for women to voice their problems and fight for their rights.

Statement 2 is incorrect

• The scheme focuses on negotiation, mediation, and reconciliation to settle minor disputes.
• The court will address individual cases and raise awareness of government schemes and women’s legal rights and entitlements.
• It will not hold any legal status. It will function as a pressure group.

Statement 3 is correct

• The Ministry of Women and Child Development would run the scheme under the Sambal sub-scheme of Mission Shakti.
• It will be set up at the village level as an alternative dispute resolution forum for domestic violence, dowry, child custody, property rights and to counter the patriarchal system.

Statement 4 is correct

• Each Nari Adalat village will have 7 to 11 members called ‘Nyaya Sakhis’:
• Half of which would be the elected members of the gram panchayat
• Half will include teachers, doctors and social workers – who would be nominated by the villagers.

Answer: (c) Only three; Difficulty Level: Medium

Explanation

Statement 1 is correct

• Supreme Court is reviewing petitions calling for a lifetime ban on convicted individuals from contesting elections.
• SC Judgments favoring decriminalisation of politics:
  • ADR Case (2002): Mandated disclosure of criminal records for all election candidates.
  • CEC vs Jan Chaukidar (2013): Ruled jailed individuals cannot be ‘electors’ and thus cannot contest. This was later overturned by Parliament.
  • Lily Thomas Case (2013): Struck down Section 8(4), mandating immediate disqualification of convicted sitting legislators.

Statements 2 and 3 are correct

• Legal Provisions:
  • Section 8(3) of the RP Act, 1951: Disqualifies convicted persons with sentences over two years for six years post-release.
  • Section 8(1): Automatically disqualifies individuals convicted under laws for heinous crimes, plus six years after release.
  • Section 8(4): Previously allowed convicted legislators to stay in office if they appealed, but was struck down in Lily Thomas (2013).
  • Section 11: Grants EC power to reduce or remove disqualification. In 2019, this power was used to allow Prem Singh Tamang to contest after a reduced disqualification period.

Answer: (c) All three; Difficulty Level: Medium

Explanation

Option (d) is correct

• In 2018, NITI Aayog released the National Strategy for Artificial Intelligence, outlining India’s approach to leveraging AI for economic growth and social inclusion.
• Indian startups focusing on AI solutions began to emerge and attract significant funding.
• The strategy is built around the philosophy of “AI for All,” focusing on enhancing and empowering every segment of society through AI innovations.

Answer: (d) NITI Aayog; Difficulty Level: Easy

Explanation

Statement 1 is correct

• GPAI is a multi-stakeholder initiative bridging the gap between AI theory and practice through research and applied activities on AI priorities.

• It will bring experts from industry, civil society, governments, and academia to promote the responsible evolution of AI.

Statement 2 is incorrect

• It is built around a shared commitment to the OECD Recommendation on AI.
• Initially, it will work on four themes:
  • Responsible AI
  • Data Governance
  • Future of Work
  • Innovation and Commercialisation.

Statement 3 is correct

• Its founding members are Australia, Canada, the European Union, France, Germany, India, Italy, Japan, the Republic of Korea, Mexico, New Zealand, Singapore, Slovenia, the UK and the US.
• Launched in 2020 with 15 members, GPAI’s membership now includes 28 countries and the EU.
• India became the Council Chair of the GPAI in November 2022 after France.

Answer: (b) 1 and 3 only; Difficulty Level: Easy

Explanation

Statement 1 is correct

• Diabetic Foot is a condition caused by prolonged high blood glucose levels damaging foot nerves and blood vessels.
• It leads to diabetic neuropathy (nerve damage) and peripheral artery disease (poor blood circulation).
• Risk Factors: Poor blood sugar control, obesity, high blood pressure, high cholesterol, age above 40, smoking (2.3x higher risk).

Statement 2 is incorrect

• Burden in India: Second-highest diabetes prevalence, 45,000+ amputations yearly, 90% never see a specialist, high treatment costs.

Answer: (a) 1 only; Difficulty Level: Medium

Explanation

Statement 1 is correct

• Unaffected by Magnetic Fields: Neutrinos are electrically neutral and travel undisturbed through space, making them reliable cosmic messengers.

Statement 2 is incorrect

• Neutrino Production in Astrophysical Events:
  • Low-Energy Neutrinos: These are produced by processes like nuclear fusion in stars.
  • High-Energy Neutrinos: Generated during extreme astrophysical events like black hole accretion, gamma-ray bursts, or cosmic ray interactions with background radiation.
  • Unsolved Mysteries: The study of neutrinos remains in its early stages, and understanding their role in the cosmos is crucial for deciphering some of the universe’s most energetic phenomena.

Statement 3 is correct

• Challenges in Neutrino and Energy Detection:
  • Uncharted Energy Levels: High-energy neutrinos exist in an unexplored energy region, surpassing known particles and challenging current detection methods.
  • Cherenkov Radiation Dependency: Detection relies on the faint Cherenkov light produced when neutrinos interact with water or ice, requiring highly sensitive instruments.
  • Large-Scale Observatories: Massive setups like KM3NeT, placed in deep water or ice, are essential to detect neutrinos due to their rare interactions.
  • Detection Complexity: Identifying neutrinos among background noise demands advanced data processing and long-term observation strategies.

Answer: (b) 2 only; Difficulty Level: Hard