November 13 2024 Current Affairs MCQs

Explanation

Statement 1 is correct

• Carbon markets are mechanisms designed to reduce greenhouse gas emissions by allowing the trade of carbon credits, creating financial incentives for entities to lower emissions or improve energy efficiency.
• Countries or industries can earn carbon credits by reducing their greenhouse gas emissions beyond their set targets.
• These credits can then be sold to other entities that need them to meet their own emission reduction targets, typically through a marketplace where credits are sold to the highest bidder.

Statement 2 is correct

• Carbon neutrality, also known as net-zero emissions, refers to a state where a country’s greenhouse gas emissions are balanced by absorbing and removing these gases from the atmosphere.
• Achieving carbon neutrality involves enhancing natural carbon sinks, such as forests, which absorb CO2 from the atmosphere, and utilizing advanced technologies like carbon capture and storage to remove CO2 directly.
• The Intergovernmental Panel on Climate Change (IPCC) has set 2050 as the target year for the world to achieve net-zero emissions.

Answer: (d) Neither 1 nor 2; Difficulty Level: Easy

Explanation

• RBI has introduced a new framework for reclassifying Foreign Portfolio Investments (FPI) into Foreign Direct Investments (FDI) when equity holdings exceed the prescribed limit.

Statement 1 is correct

• FPIs are allowed to hold up to 10% of an Indian company’s total paid-up equity capital on a fully diluted basis, ensuring a cap on the influence of foreign investors on individual companies.
• If an FPI exceeds this limit, it must either relieve the surplus shares or reclassify them as Foreign Direct Investment (FDI) within five trading days of the trade settlement that caused the breach.
• FPIs must obtain necessary government approvals, particularly for investments originating from land-bordering countries, which are subject to stricter scrutiny.

Statement 2 is incorrect

• Reclassification of investments from FPI to FDI is restricted in sectors where FDI is not permitted, aligning with sectoral regulations.

Statement 3 is correct

• The investee company’s concurrence is also mandatory to ensure compliance with sectoral caps, restrictions on prohibited sectors, and other FDI-specific conditions.
• FPIs are required to report the entire investment under the Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019, within specified timelines.
• To facilitate compliance, the FPI must work with its custodian, who will freeze the purchase transactions in the Indian company’s equity instruments until the reclassification process is finalized.
• These regulations are designed to maintain a balanced and compliant investment ecosystem in India.

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

Explanation

Statements 1 and 2 are correct

• The Defence Acquisition Council (DAC) is the highest decision-making body within the Defence Ministry, chaired by the Defence Minister.
• The DAC is responsible for formulating new policies and making decisions on capital acquisitions for the three services – the Army, Navy, Air Force, and the Indian Coast Guard.
• Its primary functions include granting approval for Acceptance of Necessity (AoN) for capital acquisition proposals.
• DAC categorizes acquisition proposals into three types: ‘Buy’ projects, which involve the direct purchase of equipment and systems; ‘Buy and Make’ projects, which include procurement followed by licensed production and indigenous development; and ‘Make’ projects, which focus on indigenous production and research & development (R&D).

Answer: (c) Both 1 and 2; Difficulty Level: Easy

Explanation

Statement 1 is correct

• Office of Controller General of Patents, Designs, and Trade Marks (CGPDT) is the head of the Indian government agency that manages patents, designs, and trademarks.

Statement 2 incorrect

• It is part of the Ministry of Commerce and Industry and has offices in Mumbai, Kolkata, Chennai, and New Delhi.

Statement 3 is correct

• It is responsible for administering the Patents Act of 1970, the Designs Act of 2000, and the Trade Marks Act of 1999, and advising the government on matters related to these acts.
• The CGPDTM also heads the following offices: Trade Marks Registry, Geographical Indications Registry, Copyrights Office, Patent Information System (PIS), and Rajiv Gandhi National Institute of Intellectual Property Management (RGNIIPM).

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

Explanation

Option (b) is correct

• GHGs are atmospheric gases that absorb and emit radiation, trapping heat and contributing to the Earth’s temperature increase.
• The main GHGs are:
  • Carbon Dioxide (CO2): Released through fossil fuel combustion, deforestation, and land-use changes.
  • Methane (CH4): Released through agriculture, natural gas production and transport, and landfills.
  • Nitrous Oxide (N2O): Released through agriculture, industrial processes, and fossil fuel combustion.
  • Chlorofluorocarbons (CFCs): Released through refrigeration, air conditioning, and propellant uses.
  • Fluorinated Gases (F-gases): Used in refrigeration, air conditioning, and electrical equipment.
  • Ozone (O3): Created through atmospheric chemical reactions.
  • Water Vapor (H2O): The most abundant GHG, influenced by temperature and humidity.
• Carbon Monoxide, Nitrogen Dioxide (NO2), Particulate Matter (PM) and Sulfur Dioxide (SO2) are not considered GHG.
  • Carbon Monoxide is a toxic gas produced through incomplete combustion, affecting air quality and human health. It doesn’t absorb infrared radiation significantly and has a short atmospheric lifetime (weeks to months).

Answer: (b) Carbon Monoxide; Difficulty Level: Medium

Explanation

Statement 1 is correct

• The carbon footprint is the amount of greenhouse gases (GHGs), especially carbon dioxide (CO2), released directly or indirectly into the atmosphere by an individual, organization, event, or product.
• This refers to the quantity of GHGs produced in our daily lives due to the combustion of fossil fuels for electricity, heating, transportation, and other activities.

Statement 2 is incorrect

• Tools and Methods for Measuring Carbon Footprint:
  • Carbon Calculators, are online tools that allow individuals and organizations to estimate their carbon footprint by entering data on energy use, travel, and other activities.
  • The GHG Protocol is a widely used international accounting tool that provides standards and guidance for companies and organizations to measure and manage their GHG emissions.

Statement 3 is correct

• Life Cycle Assessment (LCA) is a methodological framework used to assess the environmental impacts of all stages of a product’s life, aiding in comprehensive carbon.

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