Home » Daily Current Affairs Quiz – 02nd February 2024

This post is also available in: हिन्दी (Hindi)

Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 02nd February 2024. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2024 & other competitive exams can make use of these Current Affairs Quiz.

Start Quiz

1) The Cabinet supports the signing and ratification of a bilateral investment treaty between India and which country?

(a) Qatar

(b) UAE

(d) Canada

(e) Saudi Arabia

2) The Union Cabinet, led by Prime Minister Narendra Modi, approved the continuation of the Animal Husbandry Infrastructure Development Fund (AHIDF) under the Infrastructure Development Fund (IDF) with an allocation of Rs.29,610.25 crore over how many years?

(a) 2years

(b) 3years

(d) 5years

(e) 1years

3) Cabinet approves the marketing margin for the supply of domestic gas to fertilizer (urea).In which year did the government previouslydecide a marketing margin for domestic gas supply to urea and LPG producers?

(a) 2012

(b) 2014

(d) 2013

(e) 2011

4) The Union Cabinet, led by Prime Minister Narendra Modi, agreed on an extension of the sugar subsidy scheme for Antyodya Anna Yojna (AAY) families through the Public Distribution Scheme (PDS) for how many years?

(a) 2years

(b) 6years

(d) 5years

(e) 8years

5) In which year was the Coal Mines Provident Fund agency (CMPFO) founded as an autonomous agency under the Ministry of Coal to administer Provident Fund and Pension programs for coal sector workers?

(a) 1942

(b) 1946

(d) 1948

(e) 1940

6) Shri Pralhad Joshi, Union Minister of Coal, Mines, and Parliamentary Affairs, launched how many CSR activities at Coal India Limited?

(a) 2

(b) 3

(d) 5

(e) 6

7) Finance Minister Nirmala Sitharaman presented the interim Union Budget for 2024-25 in Parliament. This was the_____ budget presented by the current FM.

(a) 4th

(b) 5th

(d) 7th

(e) 8th

8) The FY24 fiscal deficit target has been reduced to 5.8 percent of GDP from an earlier estimate of what percentage?

(a) 6.0%

(b) 6.2%

(d) 5.9%

(e) 5.95%

9) In which state is India and Portugal collaborating to construct the Maritime Heritage Complex?

(a) Maharashtra

(b) Madhya Pradesh

(d) Karnataka

(e) West Bengal

10) Which edition of the Joint Military Cooperation Committee meeting in Muscat will India and Oman examine their defense cooperation?

(a) 10th

(b) 11th

(d) 13th

(e) 14th

11) When was World Wetland Day observed on?

(a) January 30

(b) January 31

(d) February 2

(e) February 3

12) What is the expected fiscal deficit as a percentage of GDP for 2024-25?

(a) 5.0%

(b) 5.1%

(d) 5.3%

(e) 5.4%

13) How many million tonnes of coal gasification and liquefaction capacity will be installed by 2030?

(a) 50

(b) 70

(d) 100

(e) 120

14) The Union Cabinet, led by Prime Minister Narendra Modi, approved the extension of the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for the export of apparel, garments, and made-ups until which year?

(a) 2024

(b) 2025

(d) 2028

(e) 2027

15) The Government of India would grant a 3% interest subvention on loans up to 90% from scheduled banks, National Cooperative Development Corporation (NCDC), NABARD, and NDDB for how many years, including a two-year moratorium period?

(a) 2years

(b) 6years

(d) 5years

(e) 8years

Answers :

1) Answer: B

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval for signing and ratification of the Bilateral Investment Treaty between the Government of the Republic of India and the Government of the United Arab Emirates.The Treaty is expected to improve the confidence of the investors, especially large investors, increasing Foreign Investments and Overseas Direct Investment (ODI) opportunities and this may have a positive impact on employment generation. The approval is expected to increase investments in India and is likely to help in realizing the goal of Atmanirbhar Bharat by encouraging domestic manufacturing, reducing import dependence, increasing exports etc.

2) Answer: B

The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the continuation of the Animal Husbandry Infrastructure Development Fund (AHIDF) to be implemented under the Infrastructure Development Fund (IDF) with an outlay of Rs.29,610.25 crore for another three years up to 2025-26. The scheme will incentivize investments in Dairy processing and product diversification, Meat processing and product diversification, Animal Feed Plant, Breed multiplication farm, Animal Waste to Wealth Management (Agri-waste management) and Veterinary vaccine and drug production facilities. The Government of India will provide 3% interest subvention for 8 yearsincluding two years of the moratorium for loans up to 90% from the scheduled bank and National Cooperative Development Corporation (NCDC), NABARD and NDDB. The eligible entities are individuals, Private Companies, FPO, MSME, Section 8 companies. Now the Dairy Cooperatives will also avail benefits for modernization, strengthening of the dairy plants. Government of India will also provide credit guarantee to the MSME and Dairy Cooperatives up to the 25% of the credit borrowed from the Credit Guarantee Fund of Rs.750 crore.

3) Answer: C

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval for determination of Marketing Margin on supply of domestic gas to Fertilizer (Urea) Units for the period from May 1, 2009 to November 17, 2015. This approval is a structural reform. Marketing Margin is charged by gas marketing company from consumers over and above the cost of gas for taking on the additional risk and cost associated with marketing of gas. Government had previously determined a marketing margin on supply of domestic gas to urea and LPG producers in 2015.

The approval will provide additional capital to the various Fertilizer (Urea) Units for the component of marketing margins paid by them on domestic gas procured during the period 01.05.2009 to 17.11.2015, based on rates already being paid from 18.11.2015 onwards. In line with government vision of AatmaNirbhar Bharat, this approval will incentivize manufacturers to increase investment. The increased investment will lead to self-sufficiency in fertilizers, and provide an element of certainty for future investments in gas infrastructure sector.

4) Answer: A

The Union Cabinet chaired by Prime Minister Shri Narender Modi approved the extension of the scheme of sugar subsidy for Antyodya Anna Yojna (AAY) families distributed through the Public Distribution Scheme (PDS) for two more years i.e. 31 March 2026.As another indication of the unwavering commitment of the Central Government to the well-being of citizens of the country and ensuring the sweetness of platters of the poorest of the poor in the country, the Scheme facilitates access of sugar to the poorest of the poor and adds energy to their diet so that their health improves. Under the Scheme, the Central Government gives a subsidy of Rs.18.50 per kg per month of sugar to AAY families of participating States. The approval is expected to extend benefits of more than Rs.1850 crore during the period of the 15th Finance Commission (2020-21 to 2025-26). The scheme is expected to benefit about 1.89 crores AAY families in the country. The government of India is already giving free ration under Pradhan Mantri Garib Kalyan Anna Yojna (PM-GKAY). The sale of ‘Bharat Atta’, ‘Bharat Dal’ and Tomatoes and Onions at affordable and fair prices are the measures to ensure sufficient food in the Plate of citizens beyond PM-GKAY also. So far, about 3 Lakh Tons of Bharat Dal (Chana dal) and about 2.4 Lakh tons of Bharat Atta have already been sold, benefitting ordinary consumers. Thus, the availability of subsidized dal, atta and sugar has completed the food for a common citizen of India fulfilling Modi ki Guarantee of ‘Food for All, Nutrition for All’. With this approval, the Government will continue giving subsidies to participating States for the distribution of sugar to AAY families through PDS at the rate of One kg per family per month. States have the responsibility to procure and distribute sugar.

5) Answer: D

Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshilaunched a web portal of CMPFO namely C- CARES developed and designed by the Centre for Development of Advanced Computing (C-DAC), an R&D organization under the Ministry of Electronics and Information Technology on 31st January, 2024. This marks a significant leap in the digitization journey of CMPFO aiming to address the long-standing issue of digitizing its records and work processes Coal Mines Provident Fund Organization (CMPFO) is an autonomous organization under the aegis of the Ministry of Coal established in the year 1948 for administering Provident Fund and Pension schemesto provide social security to the coal sector workers. The Organization is presently rendering services to about 3.3 lakh Provident Fund subscribers and 6.1 lakh pensioners of coal sector. At present, CMPFO processes settlement claims of Provident Fund subscribers and pensioners manually. With launch of the portal, settlement of PF and pension claims will now be processed and settled online. It will facilitate faster processing, transparency in operations, better record management and monitoring. It will also instil confidence in the subscribers and pensioners. The portal being a public service platform is intended to benefit the CMPF subscribers who are working in the coal sector as well as its pensioners. The digital transformation is aligned with the vision of a Digital India championed by Prime Minister Shri Narendra Modi. The inauguration ceremony was a momentous occasion, symbolizing the commitment of CMPFO and the Ministry of Coal to embrace digital transformation for the benefit of all stakeholders.

6) Answer: B

Union Minister of Coal, Mines and Parliamentary Affairs, Shri Pralhad Joshi inaugurated three initiatives being undertaken as Corporate Social Responsibility of Coal India Limited (CIL) in collaboration with Educational Consultants Limited (EDCIL), National Skill Development Corporation and TATA STRIVE on 31st January2024.It marks a watershed step to fulfill Prime Minister Shri Narendra Modi’s vision of ‘Viksit Bharat’ and ‘Digital Bharat’. On this auspicious occasion, the Secretary, Ministry of Coal Shri Amrit Lal Meena, Additional Secretary, Ministry of Coal, Ms. Rupinder Brar and other dignitaries were also present. The Memorandum of Understanding (MoU) signed between Coal India Limited (CIL) and Educational Consultants India Limited (EDCIL)aims to provide digital education through smart classrooms and computer laboratories up to 12th standard schools in Coal Bearing States. It is estimated that 200 schools will be benefited and the estimated CSR expenditure is to be incurred Rs. 27.08 Crores. A thousand smart classrooms have already been equipped under the CSR initiative of the Government Coal Companies. To provide the skills to the youth of communities around the coalfield, Coal India Limited (CIL) has signed a Memorandum of Understanding with the National Skill Development Corporation (NSDC) to establish multi-skilled development institutes in each subsidiary of Coal India Limited (CIL). The overarching purpose is to equip the youth with requisite skills based on baseline survey and market requirements. The multi-skill development institutes will be operationalized in Central Coal Limited (CCL) and Bharat Coking Coal Limited (BCCL) in 2024-25 on a pilot basis, and subsequently will be scaled up in other Coal India Limited (CIL) subsidiaries.

7) Answer: C

The Interim Union Budget for the financial year 2024-25 was tabled in the Parliament by Finance Minister Nirmala Sitharaman. This was the sixth budget presented by the current FM and the last one of Prime Minister Narendra Modi-led government’s second term.The budget focused on fiscal consolidation, infra, agri, green growth, and railways. However, no changes were made in the tax rates, which was a disappointment to salaried individuals. The Fiscal Deficit target for FY25 was set at 5.1 percent of the GDP, better than expected, while the FY24 target was also revised down to 5.8 percent.Meanwhile, the capex target of FY25 was increased by 11.1 percent to ₹11.1 lakh crore.Key features of the budget are a focus on infrastructure, tourism, logistics, and innovation in research. All these measures will bring continuous sustainable growth to the economy. This shows the continued commitment of the existing government to move towards bringing fiscal prudence and reaching the targeted fiscal deficit of 4.5 percent of GDP by FY26

8) Answer: D

FY25 fiscal deficit target at 5.1 percent of GDP. The FY24 fiscal deficit target was revised down to 5.8 percent of GDP from 5.9 percent earlier.The fiscal deficit for the first nine months of FY24 till December stood at ₹9.82 lakh crore or 55 percent of annual estimates.FY25 capital expenditure was set at ₹11.1 lakh crore, up 11.1 percent.FY25 total expenditure is expected at ₹30.80 lakh crore. The revised estimate of the total expenditure for FY24 is ₹44.90 lakh crore.The revenue receipts for FY24 at ₹30.03 lakh crore are expected to be higher than the Budget estimate, reflecting strong growth momentum and formalisation in the economy.FY25 gross market borrowing pegged at ₹14.13 lakh crore, net borrowing at ₹11.75 lakh crore.FY25 gross tax receipt target at ₹26.02 lakh crore.

9) Answer: C

The fourth Foreign Office Consultations between India and Portugal was held in New Delhi, with a focus on political relations, deepening of trade and investment, cooperation in defence, science and technology, and energy. External Affairs Ministry said both sides stressed on early implementation of the pilot project on the Recruitment of Indian Citizens to work in the Portuguese Republic, as well as the holding of the first India – Portugal Consular Dialogue. Discussions were also held on the joint commemoration of the 50th anniversary of diplomatic relations in 2025. Both sides reviewed the ongoing cooperation between India and Portugal on the development of the Maritime Heritage Complex in Gujarat’s Lothal. The Consultations were co-chaired by Secretary (West) in the Ministry of External Affairs, Sanjay Verma and the Director General for Foreign Policy, in the Portuguese Foreign Affairs Ministry, Ambassador Rui Vinhas. They also called for the early scheduling of the Joint Working Group on Agriculture and Renewable Energy. The two sides also exchanged views on global and regional issues including Gaza and Ukraine and agreed to continue the existing close cooperation in multilateral fora, including at the UN

10) Answer: C

Defence Secretary Giridhar Aramane co-chaired the 12th Joint Military Cooperation Committee meeting with the Secretary-General, Ministry of Defence, Oman Dr. Mohammed Bin Naseer Bin Ali Al Zaabi in Muscat. During the meeting, both sides reviewed and appreciated the robust defence cooperation between India and Oman. The meeting delved into many new areas of cooperation in the fields of training, Joint exercise, Information sharing, Oceanography, and Ship Building that would build mutual trust and interoperability between militaries of both nations. They also exchanged views on regional and global issues of shared interest. Both sides discussed effective and practical initiatives to further boost bilateral defence engagements with a focus on defence industry collaboration

11) Answer: D

World Wetlands Day is celebrated on 2nd February every year. Aims to raise global awareness about the vital role of wetlands for people and the planet. Because of the many benefits we get from wetlands, World Wetlands Day is observed on February 2 every year to raise awareness about their importance and the need to preserve them. On this day, The Convention on Wetlands was adopted in 1971. This year is especially significant as World Wetlands Day 2024 will be observed as a United Nations international day for the second time. On August 30 last year, the United Nations General Assembly adopted a resolution to mark the day. The day is celebrated to mark the date of the adoption of the Convention on Wetlands on February 2, 1971, in the Iranian city of Ramsar on the shores of the Caspian Sea.

World Wetlands Day was first celebrated in 1997.

12) Answer: B

Fiscal deficit in 2024-25 is estimated to be 5.1 percent of GDP. This is in adherence to the path of fiscal consolidation to reduce the fiscal deficit below 4.5 percent by 2025-26.States will be encouraged to take up comprehensive development of iconic tourist centres, branding and marketing them at a global scale. A framework for a rating of the centres based on the quality of facilities and services will be established. Long-term interest-free loans will be provided to States for financing such development on a matching basis‘Direct Benefit Transfer’ of 34 lakh crore rupees into PM-Jan Dhan accounts has led to savings of 2.7 lakh crore rupees for the Government. The PM-SVANidhi scheme has provided credit assistance to 78 lakh street vendors. Narendra Modi government started PM-JANMAN Yojana which reaches out to particularly vulnerable tribal groups, who have remained outside the realm of development so far. PM-Vishwakarma Yojana initiated by the Centre provides end-to-end support to artisans and craftspeople engaged in 18 trades.

13) Answer: D

Towards meeting the commitment to ‘net zero’ by 2070, the following measures were announced.Viability gap funding will be provided for harnessing offshore wind energy potential for the initial capacity of one giga-watt.A coal gasification and liquefaction capacity of 100 MT will be set up by 2030. This will also help in reducing imports of natural gas, methanol, and ammonia.Phased mandatory blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and piped natural gas (PNG) for domestic purposes will be mandated.Financial assistance will be provided for the procurement of biomass aggregation machinery to support collection.

14) Answer: C

The Union Cabinet chairedby Prime Minister Shri Narendra Modi approved the continuation of the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for the export of Apparel/Garments and Made-upsto 31st March 2026.Continuation of the Scheme for the proposed two (2) years will provide a stable policy regime which is essential for long-term trade planning, more so in the textiles sector where orders can be placed in advance for long-term delivery.The continuation of RoSCTL will ensure predictability and stability in the policy regime, help remove the burden of taxes and levies and provide level playing field on the principle that “goods are exported and not domestic taxes”. The Union Cabinet had approved the scheme up to 31.03.2020 and further approval was given for continuation of RoSCTL till 31st March 2024. The present extension up to 31st March 2026 helps in enhancing the export competitiveness of garments and made-up sectors. It makes apparel/garments and made-up products cost-competitive and adopts the principle of zero-rated export.The other textile products (excluding Chapters 61, 62 and 63) not covered under the RoSCTL, are eligible to avail the benefits under RoDTEP along with other products.The objective of the scheme is to compensate for the State and Central Taxes and Levies in addition to the Duty Drawback Scheme on the export of apparel/ garments and Made-ups by way of rebate. It is based on an internationally acceptable principle that taxes and duties should not be exported, to enable a level playing field in the international market for exports. Hence, not only indirect taxes on inputs are to be rebated or reimbursed but also other un-refunded State & Central taxes and levies are to be rebated.

15) Answer: E

The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the continuation of the Animal Husbandry Infrastructure Development Fund (AHIDF) to be implemented under the Infrastructure Development Fund (IDF) with an outlay of Rs.29,610.25 crore for another three years up to 2025-26. The scheme will incentivize investments in Dairy processing and product diversification, Meat processing and product diversification, Animal Feed Plants, Breed multiplication farms, Animal Waste to Wealth Management (Agri-waste management) and Veterinary vaccine and drug production facilities.The Government of India will provide 3% interest subvention for 8 yearsincluding two years of the moratorium for loans up to 90% from the scheduled bank and National Cooperative Development Corporation (NCDC), NABARD and NDDB. The eligible entities are individuals, Private Companies, FPO, MSME, Section 8 companies. Now the Dairy Cooperatives will also avail benefits for modernization, and strengthening of the dairy plants. The government of India will also provide credit guarantee to the MSME and Dairy Cooperatives up to 25% of the credit borrowed from the Credit Guarantee Fund of Rs.750 crore.

Daily Current Affairs Quiz – 02nd February 2024

Add IBPSGuide to your Homescreen!