Daily GK and Current Affairs Quiz – 31st May 2023

Correct Answer:  C. 6.8%

Explanation:  the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released its 18th quarterly Periodic Labour Force Survey (PLFS) bulletin for January-March 2023 (Q4FY23). As per it, India’s urban unemployment rate (UR) in Current Weekly Status (CWS) terms for persons aged 15 years and above declined to 6.8% during Q4FY23 from 7.2% in Q3FY23. The unemployment rate was 8.2% during January-March 2022. A total number of 5,726 FSUs- First Stage Unit (UFS- Urban Frame Survey blocks) have been surveyed during Q4FY23. The number of urban households surveyed was 44,982 and number of persons surveyed was 1,72,089 in urban areas. Key Figures representing Persons of 15 years and above in Urban Areas in Q4FY23:

I. UR in CWS among the male population in urban areas declined to 6% as compared to 6.5% in Q3FY23.

• UR in CWS among females also saw a decline during Q4FY23 to 9.2% from 9.6% in Q3FY23.
• The rate was 10.1% during January-March 2022.

II. For all age groups, the highest UR was seen in Himachal Pradesh (HP) which stood at 15.2%.

• It is followed by Chhattisgarh at 12.5% in 2nd place, and Jammu and Kashmir-J&K (12.4%) at 3rd place.

III. The Labour Force Participation Rate (LFPR) in CWS for males was 73.5% from 73.3% in Q3FY23.

• LFPR in CWS for females increased to 22.7% from 22.3% in Q3FY23.
• At all India levels, LFPR in CWS is increased to 48.5% from 48.2 in Q3FY23.

IV. The Worker Population Ratio (WPR) in % in CWS for males increased to 69.1% as compared to 68.6% Q3FY23.

• WPR in % in CWS for females also increased slightly to 20.6% from 20.2% in Q3FY23.
• At all India levels, WPR in % in CWS increased to 45.2% from 44.7% in Q3FY23.

Correct Answer:  B. Razorpay

Explanation:  Razorpay has launched India’s fastest one-step UPI (Unified Payments Interface) payment solution namely ‘Turbo UPI’ allowing customers of online merchants to make UPI payments directly without getting redirected to a third-party UPI app during checkout. This Solution was developed in partnership with the National Payments Corporation of India (NPCI) and Axis Bank. Through this app, the payment steps are reduced from 5 to 1. To deliver a 5X faster payment experience. To support the businesses to achieve an increase in the success rate of UPI payments by 10%.

• It streamlines the payment process and eliminates any redirection to external apps.
• It also offers granular insights into the end-users drop-off pattern and enables merchants to control the entire payment experience of their customers, end-to-end.
• UPI has become the common and preferred mode of payment for end users. It is projected to reach 1 billion transactions per day and capture a 90% share of retail digital payments by 2026-27.

Correct Answer:  B. Detroit, Michigan

Explanation:  India and the 13 other partner countries of the Indo-Pacific Economic Framework for Prosperity (IPEF), the Economic initiative led by the United States,  announced the substantial conclusion of the negotiations of a first-of-its-kind international ‘IPEF Supply Chain Agreement’ at the IPEF Ministerial Meeting which was held in Detroit, Michigan. Union Minister Piyush Goyal, Ministry of Commerce and Industry, participated in the IPEF discussions virtually.

Correct Answer:  B. 22%

Explanation: According to the Department for Promotion of Industry and Internal Trade (DPIIT) data, the Foreign Direct Investment (FDI) into India declined by 22% to USD (United States Dollar) 46.03 billion in FY23 as compared to USD 58.77 billion during FY22.

Top Investor in FY23:

• Singapore emerged as the top investor with USD 17.2 billion in FDI. It was followed by Mauritius (USD 6.13 billion), the US (USD 6 billion), the United Arab Emirates (USD 3.35 billion), the Netherlands (USD 2.5 billion), Japan (USD 1.8 billion), United Kingdom (USD 1.73 billion), Cyprus (USD 1.27 billion), Cayman island (USD 772 million), and Germany (USD 547 million). The FDI inflows have contracted in FY23 from Mauritius, the United States (US), the Netherlands, the Cayman Islands, and Germany.

Top Investing State:

• Maharashtra continued to be the most favoured destination for investors. It received USD 14.8 billion worth of investments, although inflows declined from USD 15.44 billion in FY22.
• It is followed by Karnataka at 2nd with around USD 10.43 billion in FY23, up from USD 22.01 billion in FY22.
• Delhi is at 3rd rank. Its FDI inflows declined to USD 7.53 billion, from USD 8.18 billion in FY22.
• FDI in Gujarat has increased to USD 4.71 billion in FY23 as against USD 2.7 billion in FY22.

Correct Answer:  C. Shubman Gill and Mohammed Shami

Explanation:  Chennai Super Kings (CSK) has defeated defending champions Gujarat Titans by 5 wickets to win its 5th IPL title. The final match of IPL 2023 was held at Narendra Modi Stadium in Ahmedabad, Gujarat on May 29, 2023.

IPL 2023 awards:

• Orange Cap (Highest Run-Scorer): Shubman Gill (GT) 890 runs
• Purple Cap (Leading Wicket-taker): Mohammed Shami (GT) 28 wickets
• Most Valuable Player: Shubman Gill
• Emerging Players: Yashasvi Jaiswal
• Fairplay Award: Gujarat Titans
• Super Striker: Glenn Maxwell
• Most Fours: Shubman Gill
• Catch Of the Season: Rashid Khan
• Pitch and Ground: Eden Gardens, Wankhede Stadium

Correct Answer:  B. India

Explanation:  India has won the title of NSC-CAVA Women’s Volleyball Challenge Cup held in Kathmandu. India won the title by defeating Kazakhstan in the final at the National Sports Council’s Covered Hall in Tripureshwor, Kathmandu. India defeated Kazakhstan in a shared set of 3-0. India won the first set 25-15, the second set 25-22, and the third set 25-18. Along with this, India finished the competition by remaining undefeated. The event was organised by the Nepal Volleyball Association and is supported by the NSC, eight nations participated in it. In the competition, Kazakhstan became the runner-up, Nepal third, Uzbekistan fourth, Sri Lanka fifth, Kyrgyzstan sixth, Maldives seventh, and Bangladesh eighth.

Correct Answer:  C. Uttar Pradesh

Explanation:  Uttar Pradesh Hockey defeated the Hockey Association of Odisha to win the 13th Hockey India Sub Junior Men National Championship 2023, held at the iconic Birsa Munda Hockey Stadium, Odisha. Meanwhile, Hockey Haryana beat Hockey Madhya Pradesh to finish third in the competition. Ujjwal Pal converted three penalty corners, while Rahul Yadav, Ketan Kushwaha, Rahul Rajhbar, and Ajeet Yadav (Team Captain) each scored a goal to secure their victory.

Correct Answer:  B. Odisha

Explanation:  Naveen Patnaik government announces new housing scheme in Odisha.  On the fourth anniversary of his current five-year term, chief minister Naveen Patnaik-led cabinet cleared a new rural housing scheme ‘Mo Ghara’ targeting those left out in Central and state schemes. The application process will start from June 16. The government plans to spend Rs 2,150 crore over the next two years benefitting four lakh families under the scheme. Currently, people in villages get housing aid under central scheme Pradhan Mantri Awaas Yojana (Grameen) besides state’s Biju Pucca Ghar Yojana, Pucca Ghar Yojana (Mining) and Nirman Shramik Pucca Ghar Yojana. Official sources said total 30.13 lakh houses have been built under these schemes.

Correct Answer:  C. Karnataka

Explanation:  DGCA approves for night landing facility at Kalaburagi Airport in May 2023. Directorate-General of Civil Aviation (DGCA) has approved the night landing facility at Kalaburagi Airport, Karnataka in May 2023. The Kalaburagi Airport was inaugurated on November 22, 2019, by the then Chief Minister of Karnataka Shri B S Yediyurappa. There has been a demand for providing night landing facilities to the airport for a long time. With the approval by DGCA for the night landing facility the Aerodrome License for the airport has been amended from VFR (Visual flight rules) to IFR (Instrumental flight rules) for All Weather Operations.

Correct Answer:  A. Off-Shore Wind Projects

Explanation:  The Government has decided to waive off Inter-State Transmission Charges (ISTS) for Off-Shore Wind Projects. The government has extended the waiver to Green Hydrogen and Green Ammonia. This decision has been taken to promote the expansion of Green Hydrogen and Green Ammonia Projects and to encourage the production of renewable energy from Energy Storage System Projects. Projects commissioned till December 31, 2032, will become eligible for a complete waiver of ISTS charges for 25 years from the date of commissioning.

• Graded ISTS charges will become applicable to the off-shore projects commissioned from 1st January 2033.
• The Government was earlier providing waivers to wind energy projects till 30th June 2025.
• The government has also waived off ISTS charges for 25 years for Green Hydrogen and Green Ammonia production units, which are using Renewable Energy commissioned after 8th March 2019 or Pumped Storage Systems or Battery Storage Systems.
• Wind power project plants commissioned between 2033 and 2034 will be subject to a 25 per cent ISTS fee.

Correct Answer:  B. University of Edinburgh

Explanation:  The University of Edinburgh and the Indian consulate in the UK have collaborated to create the first open access course in Hindi language. This program named Climate Solutions was created with the help of translators and developed in conjunction with the Edinburgh Climate Change Institute and the government of India.

• Renowned climate change experts, including Professor Dave Reay, the Executive Director of the Edinburgh Climate Change Institute, have designed and delivered the course.
• The Climate Solutions course, now available in Hindi, English and Arabic, showcases the causes, implications, and answers of climate change in India.

The course represents a tremendous milestone for the University Institute, according to Edinburgh University. The programme spans five weeks and explores how different climatic regions across India can impact the country’s health, agriculture, and economy significantly. New iterations of the course will be rolled out shortly in Senegal, Malawi, Ecuador and Mexico. Students and academics in India and around the world will find this valuable resource highly useful and informative.

Correct Answer:  C. Politician

Explanation:  Balubhau Narayanrao (Alias Suresh) Dhanorkar, a member of the Indian National Congress(INC) and Member of Parliament(MP – Lok Sabha) from Chandrapur constituency, Maharashtra, passed away at the age of 47 in New Delhi, Delhi. He was born on  4th May 1975, in Yavatmal, Maharashtra. His wife, Pratibha Dhanorkar, is a Member of the Legislative Assembly(MLA) of Maharashtra.

• He began his political career with Shiv Sena and served as MLA (Maharashtra) from 2014 to 2019.
• In 2019, he joined INC and was elected to the lok sabha from Chandrapur constituency.
• He was the only candidate for INC to be elected as MP from Maharashtra.

Correct Answer:  D. 6.3%

Explanation:  Goldman Sachs increased the Indian economic growth forecast by 30 basis points to 6.3% year-on-year (y-o-y) for calendar year 2023 from its earlier forecast of 6%, citing a boost in net exports. It has pegged GDP (Gross Domestic Product) growth for the Jan-March 2023 quarter at 4.9%, 6.5% for April-June 2023, 5.9% for July-September 2023 and 8.1% for October-December 2023. There will be pick-up in government expenditure in the second half of FY24 before the general elections in 2024. Services  Purchasing Managers Index (PMI) clocked a 13-year high of 62, domestic air passenger traffic exceeded pre-pandemic levels and services exports have increased despite a slowdown in global growth. There will be a strong trend in services exports, while the trend of lower merchandise imports is likely to continue. Real exports may grow above 4% y-o-y, while flat real import growth may be seen in 2023. India’s investment growth forecast lowered to 7.9% y-o-y in the calendar year 2023, compared to 9% year-on-year earlier.

Correct Answer:  B. Sri Lanka

Explanation:  India announced an extension to its $1 billion credit line to Sri Lanka for another year. The credit line was introduced in March 2020 to aid Sri Lanka in the face of an economic crisis, and has been used to provide urgent support for the procurement of essential items including food, medicine, and fuel.

• In March of the previous year, the State Bank of India (SBI) and the Sri Lankan government signed a $1 billion credit agreement, which was extended by India to assist Sri Lanka during their economic crisis.
• This one-year extension is part of a wider multi-pronged assistance package, worth $4 billion, which India has provided to Sri Lanka since last year in accordance with its ‘Neighbourhood First’ policy.
• India hopes its continued support will help Sri Lanka stabilise and recover economically.
• In 2022, Sri Lanka experienced an unprecedented financial crisis that prompted political turmoil in the country and the ousting of the Rajapaksa family.