DAY 24 (10-10-23)
Q1. Consider the following statements :
- Non-Fungible Tokens work on the foundation of block chain technology.
- NFTs can be traded or exchanged at equivalency.
- Physical assets like real estate and art work can be represented digitally using NFTs.
How many of the above statements are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (b)
Explanation:
Statement 1 is correct: Non-fungible tokens (NFTs) are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other.
Statement 2 is incorrect: Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can serve as a medium for commercial transactions.
Statement 3 is correct: NFTs have the potential for several use cases. For example, they are an ideal vehicle to digitally represent physical assets like real estate and artwork. Because they are based on blockchains, NFTs can also work to remove intermediaries and connect artists with audiences or for identity management. NFTs can remove intermediaries, simplify transactions, and create new markets.
Q2. With reference to Stockholm International Peace Research Institute (SIPRI) Report, 2023, consider the following statements :
- Russia has the largest number of deployed nuclear warheads followed by USA, France and UK.
- India has no deployed nuclear warheads.
- Overall, number of nuclear warheads continues to decline.
How many of the above statements are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (b)
Explanation:
Statement 1 is incorrect:USA has the largest number of deployed nuclear warheads followed by Russia, France and UK while Russia has the highest total inventory of nuclear warheads followed by USA and China.
Statement 2 is correct:India, China, Pakistan, North Korea and Israel have no deployed nuclear warheads.India has a total of 164 nuclear warhead stockpiles.
Statement 3 is correct:Overall, number of nuclear warheads continues to decline, primarily due to USA and Russia dismantling retired warheads.
Q3. What are the possible reasons for low patents in India?
- India’s low expenditure on Research and Development (R&D) activities.
- The procedural delays and complexity of the process.
- Low number of patent examiners in India.
How many of the above statements are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (c)
Explanation:
Statement 1 and 2 are correct: One of the key reasons for relatively low patents in India vis a vis USA, China, etc is India’s low expenditure on Research and Development (R&D) activities, which was 0.7 per cent of its GDP in 2020. However, this is not the only reason. The procedural delays and complexity of the process is another cause for low patents in India. The average pendency for final decision in acquiring patents in India is 42 months as of 2020.
Statement 3 is correct: Delay in India’s patent application is also due to the low number of patent examiners in India. The number of patent examiners in India in 2020 were 615 as opposed to 13,704 in China, 8,132 in United States and 1,666 in Japan.
Q4. LEADS Index measures :
(a) Progress on the front of achieving SDGs by the respective states.
(b) Progress on the front of educating the children from class I to X.
(c) Progress on the front of logistics development in the states.
(d) Progress on the front of leadership development in the colleges.
Answer: (c)
Explanation:
LEADS index is released by Ministry of Commerce & Industry. It is an indigenous data-driven index to assess logistics infrastructure, services, and human resources across all States and UTs. It’s a key tool to drive logistics sector efficiency that helps achieve target of bringing down logistics costs compared to global benchmark.
Q5. Consider the following statements :
- An amendment of the Constitution can be initiated only by the introduction of a bill for the purpose in either House of Parliament.
- A bill to amend the constitution requires prior permission of President.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (a)
Explanation:
The procedure for the amendment of the Constitution as laid down in Article 368 is as follows:
- An amendment of the Constitution can be initiated only by the introduction of a bill for the purpose in either House of Parliament and not in the state legislatures.
- The bill can be introduced either by a minister or by a private member and does not require prior permission of the president.
- The bill must be passed in each House by a special majority, that is, a majority of the total membership of the House and a majority of two-thirds of the members of the House present and voting.
- Each House must pass the bill separately. In case of a disagreement between the two Houses, there is no provision for holding a joint sitting of the two Houses for the purpose of deliberation and passage of the bill.
- If the bill seeks to amend the federal provisions of the Constitution, it must also be ratified by the legislatures of half of the states by a simple majority, that is, a majority of the members of the House present and voting.
- After duly passed by both the Houses of Parliament and ratified by the state legislatures, where necessary, the bill is presented to the president for assent.
- The president must give his assent to the bill. He can neither withhold his assent to the bill nor return the bill for reconsideration of the Parliament.
- After the president’s assent, the bill becomes an Act (i.e., a constitutional amendment act) and the Constitution stands amended in accordance with the terms of the Act.