QUIZ – 2017: Insights Current Affairs Quiz, 01 July 2019

Solution: b)

The 2019 G20 Osaka summit was the fourteenth meeting of the G20, a forum of 19 countries and the EU that together represent most of the world economy. It was the first G20 summit to be hosted by Japan.

The 19 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Republic of South Africa, Russia, Saudi Arabia, Turkey, United Kingdom, United States of America.

The recent G20 summits have focused not only on macroeconomy and trade, but also on a wide range of global issues which have an immense impact on the global economy, such as development, climate change and energy, health, counter-terrorism, as well as migration and refugees.

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Solution: a)

The Summit of G20 Finance Ministers and Central Bank Governors, who prepare the leaders’ summit and implement their decisions, was created as a response to the financial crisis of 2007–2008.

After the 2008 debut summit in Washington, DC, G20 leaders met twice a year: in London and Pittsburgh in 2009, and in Toronto and Seoul in 2010.

Since 2011, when France chaired and hosted the G20, the summits have been held only once a year.

Japan hosted the 2019 Summit. The 2020 Summit will be in Saudi Arabia and 2022 in India.

Solution: c)

The Rs 1,000 crore Nirbhaya Fund was announced in Union Budget 2013.

The key schemes under which the States have been allocated money include Emergency Response Support System, Central Victim Compensation Fund, Cyber Crime Prevention against Women and Children, One Stop Scheme, Mahila Police Volunteer, and Universalisation of Women Helpline Scheme.

The top five States ranked in terms of utilisation of money across various schemes under the Nirbhaya Fund were Chandigarh (59.83%), Mizoram (56.32%), Uttarakhand (51.68%), Andhra Pradesh (43.23%) and Nagaland (38.17%).

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Solution: b)

Headline inflation is a measure of the total inflation within an economy, including commodities such as food and energy prices (e.g., oil and gas), which tend to be much more volatile and prone to inflationary spikes. On the other hand, “core inflation” (also non-food-manufacturing or underlying inflation) is calculated from a consumer price index minus the volatile food and energy components. Headline inflation may not present an accurate picture of an economy’s inflationary trend since sector-specific inflationary spikes are unlikely to persist.

A flexible inflation targeting framework aided by low oil prices and food supply management has helped keep the headline inflation low in the last five years.

The RBI Act was amended in 2016 for an inflation targeting framework, that had set a target for the RBI of 4% consumer price (CPI) index-based inflation, with a deviation of 2% on both sides, for five years.

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Solution: c)

NASA has selected Texas-based Southwest Research Institute to lead its PUNCH mission which will image the Sun. This is a landmark mission that will image regions beyond the Sun’s outer corona. Dipankar Banerjee, solar physicist from Indian Institute of Astrophysics is also a Co-Investigator of the PUNCH mission. PUNCH, which stands for “Polarimeter to Unify the Corona and Heliosphere,” is focused on understanding the transition of particles from the Sun’s outer corona to the solar wind that fills interplanetary space.

India is planning to send up its own satellite Aditya-L1, a mission to study the Sun’s corona.

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