The Daily Current Affairs Quiz questions are based on various national and regional newspapers including government news sources.
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Question 1 of 5
1. Question
Consider the following statements regarding the Toy Sector in India:
1. The Indian toy sector is mostly fragmented with 90% of the market being unorganised.
2. The Indian toys industry has more than 1% of global market share and almost 50% of toys in India are made in china.
3. The Ministry of Education has organized ‘Toycathon’, a hackathon to develop toys and games based on Indian culture and ethos.
Which of the Statements given above are correct?
Correct
Answer: (c)1 and 3 only
Explanation:
Statement 1 is correct: The sector is fragmented with 90% of the market being unorganized and 4,000 toy industry units from the MSME sector. 75 percent of domestic manufacturing originates in micro-industries, while 22 per cent comes from MSMEs. Less than 3 percent of the domestic toy manufacturing processes come from large units. Employment in the toy manufacturing sector offers its female majority workforce avenues for socio-economic empowerment, financial security, and skill development. It also offers opportunities for women to act as agents of change by preserving local toy forms, intrinsic to their regions.
Statement 2 is incorrect: Government’s Make in India has yielded positive results for the toy sector as toy imports in India have declined 70% while exports have increased 61% over the last three years. Indian Toys Industry is estimated to be $1.5 bn making up 0.5% of global market share. The toy manufacturers in India are mostly located in NCR, Maharashtra, Karnataka, Tamil Nadu and clusters across central Indian states. Almost 85-90% of toys sold in India are made in China. This is primarily because Chinese toys are sold for a cheap price. The toys industry in India has the potential to grow to $2-3 bn by 2024.The sector is also scouting for new markets to increase exports to the Middle East and African countries.
Statement 3 is correct: Favourable government policies have boosted domestic manufacturing and helped the industry to explore global markets and enhance exports. Increasing customs duties on imported toys and mandating Bureau of Indian Standards (BIS) certification requirements for imports have given the necessary push to the Indian toy industry.Demand for toys based on desi movie characters, mythological characters and superheroes such as Chota Bheem are on the rise.Toyotathon 2021 organised by Ministry of Education to crowd- source solutions to problems faced by toy industry.National Action Plan for Indian Toy Story to boost local manufacturing and incentivise toy and handicraft manufacturers.
Incorrect
Answer: (c)1 and 3 only
Explanation:
Statement 1 is correct: The sector is fragmented with 90% of the market being unorganized and 4,000 toy industry units from the MSME sector. 75 percent of domestic manufacturing originates in micro-industries, while 22 per cent comes from MSMEs. Less than 3 percent of the domestic toy manufacturing processes come from large units. Employment in the toy manufacturing sector offers its female majority workforce avenues for socio-economic empowerment, financial security, and skill development. It also offers opportunities for women to act as agents of change by preserving local toy forms, intrinsic to their regions.
Statement 2 is incorrect: Government’s Make in India has yielded positive results for the toy sector as toy imports in India have declined 70% while exports have increased 61% over the last three years. Indian Toys Industry is estimated to be $1.5 bn making up 0.5% of global market share. The toy manufacturers in India are mostly located in NCR, Maharashtra, Karnataka, Tamil Nadu and clusters across central Indian states. Almost 85-90% of toys sold in India are made in China. This is primarily because Chinese toys are sold for a cheap price. The toys industry in India has the potential to grow to $2-3 bn by 2024.The sector is also scouting for new markets to increase exports to the Middle East and African countries.
Statement 3 is correct: Favourable government policies have boosted domestic manufacturing and helped the industry to explore global markets and enhance exports. Increasing customs duties on imported toys and mandating Bureau of Indian Standards (BIS) certification requirements for imports have given the necessary push to the Indian toy industry.Demand for toys based on desi movie characters, mythological characters and superheroes such as Chota Bheem are on the rise.Toyotathon 2021 organised by Ministry of Education to crowd- source solutions to problems faced by toy industry.National Action Plan for Indian Toy Story to boost local manufacturing and incentivise toy and handicraft manufacturers.
Question 2 of 5
2. Question
Consider the following statements about cotton production in India and identify the correct statements:
1. Cotton is a Kharif crop and grows well in black cotton soil of the Deccan plateau.
2. India is the highest cotton producing country in the world.
3. The textile industry employs the highest number of people in the country after agriculture.
Select the correct answer from the codes given below:
Correct
Answer: (d) All of the above
Explanation:
Statement 1 is correct: Black soil is known as ‘black cotton soil’ because cotton grows well in this type of soil. It requires moderate rainfall or irrigation and high temperatures. It is mostly cultivated in Kharif season and is sown in August to September.
Statement 2 is correct: India has the distinction of having the largest area under cotton cultivation which is about 37% of the world area under cotton cultivation between 10.5 million hectares to 12.20 million hectares. India is the largest producer of cotton in the world accounting for about 22% of the world cotton production.
Statement 3 is correct: The textile industry is second largest after agriculture in India because:
• Cotton textile industry contributes 14 percent of the total industrial production.
• It provides employment to 35 million persons directly – the second largest after agriculture.
Incorrect
Answer: (d) All of the above
Explanation:
Statement 1 is correct: Black soil is known as ‘black cotton soil’ because cotton grows well in this type of soil. It requires moderate rainfall or irrigation and high temperatures. It is mostly cultivated in Kharif season and is sown in August to September.
Statement 2 is correct: India has the distinction of having the largest area under cotton cultivation which is about 37% of the world area under cotton cultivation between 10.5 million hectares to 12.20 million hectares. India is the largest producer of cotton in the world accounting for about 22% of the world cotton production.
Statement 3 is correct: The textile industry is second largest after agriculture in India because:
• Cotton textile industry contributes 14 percent of the total industrial production.
• It provides employment to 35 million persons directly – the second largest after agriculture.
Question 3 of 5
3. Question
About Eight Core Sectors in Indian industry which of the following statements is/are correct?
1. These comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
2. Coal has the highest weightage in IIP among all these 8 core sectors.
Select the correct code from given below
Correct
Answer: (a) 1 only
Explanation:
Eight Core Sectors:
Coal, Crude Oil, Natural Gas, Refinery Products, Fertiliser, Steel, Cement, Electricity
Statement 1 is correct: These comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
Statement 2 is incorrect: The eight core sector industries in decreasing order of their weightage:
Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
Incorrect
Answer: (a) 1 only
Explanation:
Eight Core Sectors:
Coal, Crude Oil, Natural Gas, Refinery Products, Fertiliser, Steel, Cement, Electricity
Statement 1 is correct: These comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
Statement 2 is incorrect: The eight core sector industries in decreasing order of their weightage:
Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
Question 4 of 5
4. Question
Consider the following statements regarding the logistics sector:
1. NITI Ayog has released the Logistics Ease Across Different States (LEADS) Report aimed at gauging the logistics performance of states and identifying areas where they can improve logistics performance.
2. India’s logistics costs account for 7-8% of Gross Domestic Product (GDP), which is on par with developed countries.
Which of the statements given above is/ are correct?
Correct
(d) Neither 1 nor 2
Explanation:
Statement 1 is not correct: The Ministry of Commerce and Industry has released the Logistics Ease Across Different States (LEADS) Report (Index). The LEADS report is aimed at gauging the logistics performance of states and Union Territories (UT) and identifying areas where they can improve logistics performance. It was launched in 2018. States are ranked based on quality and capacity of key infrastructure such as road, rail and warehousing as well as on operational ease of logistics including security of cargo, speed of terminal services and regulatory approvals. The report is structured along the three dimensions which collectively influence logistics ease- Infrastructure, Services, and Operating and Regulatory Environment which are further categorized into 17 parameters.
Statement 2 is not correct: India’s logistics costs account for 13-14% of Gross Domestic Product (GDP), compared to 7-8% in developed countries. The government was aiming to bring down logistics costs by 5% over the next 5 years. Estimated logistics costs in India are currently about 14%, which is quite high compared to 8-10% globally. Efficient logistics was pivotal to bring ease and empowerment to businesses as well as citizens. Logistics contributed immensely in our fight against Covid-19 by taking essential supplies including liquid Medical Oxygen throughout the country during the 2nd wave.
Incorrect
(d) Neither 1 nor 2
Explanation:
Statement 1 is not correct: The Ministry of Commerce and Industry has released the Logistics Ease Across Different States (LEADS) Report (Index). The LEADS report is aimed at gauging the logistics performance of states and Union Territories (UT) and identifying areas where they can improve logistics performance. It was launched in 2018. States are ranked based on quality and capacity of key infrastructure such as road, rail and warehousing as well as on operational ease of logistics including security of cargo, speed of terminal services and regulatory approvals. The report is structured along the three dimensions which collectively influence logistics ease- Infrastructure, Services, and Operating and Regulatory Environment which are further categorized into 17 parameters.
Statement 2 is not correct: India’s logistics costs account for 13-14% of Gross Domestic Product (GDP), compared to 7-8% in developed countries. The government was aiming to bring down logistics costs by 5% over the next 5 years. Estimated logistics costs in India are currently about 14%, which is quite high compared to 8-10% globally. Efficient logistics was pivotal to bring ease and empowerment to businesses as well as citizens. Logistics contributed immensely in our fight against Covid-19 by taking essential supplies including liquid Medical Oxygen throughout the country during the 2nd wave.
Question 5 of 5
5. Question
Consider the following statements with reference to the Horticulture Sector in India:
1. It contributes more than fifty percent to the value of agriculture output.
2. India is the largest producer of fruits and vegetables in the world.
3. Productivity of horticulture crops is higher compared to productivity of food grains.
Which of the statements given above is/are correct?
Correct
Answer:(b) 1 and 3 only
Explanation:
Statement 1: While the exact percentage might fluctuate, horticulture in India contributes a significant portion (around 33%) to the value of agricultural output, which is more than 50% of the total agriculture Gross Value Added (GVA).
Statement 2: This statement is not entirely accurate. India is one of the major producers of fruits and vegetables globally, but it is not necessarily the largest.
Statement 3: Productivity of horticulture crops in India is indeed higher compared to food grains. This is because horticulture crops generally have higher yield per unit area.
Incorrect
Answer:(b) 1 and 3 only
Explanation:
Statement 1: While the exact percentage might fluctuate, horticulture in India contributes a significant portion (around 33%) to the value of agricultural output, which is more than 50% of the total agriculture Gross Value Added (GVA).
Statement 2: This statement is not entirely accurate. India is one of the major producers of fruits and vegetables globally, but it is not necessarily the largest.
Statement 3: Productivity of horticulture crops in India is indeed higher compared to food grains. This is because horticulture crops generally have higher yield per unit area.