UPSC EXAM QUIZ 29.01.2025

Explanation:

• According to the Secretary of the Union Ministry of Ports, Shipping and Waterways, the Indian maritime sector needs an investment of $1 trillion by 2047 and ₹5 lakh crore by 2030 to achieve its full potential.

India's Maritime Sector

• The backbone of India's trade and commerce: India's maritime sector handles nearly 95% of trade volume and 70% of trade value.
• India's 7,500-km-long coastline: India has 13 major ports and over 200 minor ports. This makes India an important trading hub along the world's busiest shipping routes.
• India is the 16th largest maritime nation in the world: India holds a dominant position in the maritime sector.
• India's key location on global shipping routes: Most cargo ships that travel between East Asia to the US, Europe and Africa pass through India's waters. This further increases India's strategic importance.

Explanation:

• A landmark study titled ‘Antiquity of Iron: Recent Radiometric Dates from Tamil Nadu‘ has revealed evidence of iron technology in Tamil Nadu from 3,345 BCE. The discovery reshapes the notions of Indian and global Iron Age timeline and origins.

Key Findings

Ancient Iron Technology in Tamil Nadu

• Iron technology in Tamil Nadu dates back to 3345 BCE.
• Charcoal and pottery from the Sivagalai site date back to 2953 BCE to 3345 BCE, making it the earliest evidence of iron technology globally.
• Earliest burial evidence: The 1692 BCE sarcophagus burial found in Kilnamandi is the oldest found in Tamil Nadu.

Iron Smelting Furnaces

• Iron-smelting furnaces have been found at sites such as Mayiladumparai, Kilnamandi, Perungalur.
• This reflects the technological advancement of the region, which was able to produce strong iron tools and weapons.

Explanation:

• India has significantly reduced its fiscal deficit from a pandemic high of 9.2% of GDP in FY 2020-21 to an estimated 5.6% in FY 2023-24, with a target of 4.9% for FY 2024-25.
• Through targeted spending and enhanced revenue collection, the country has made substantial progress in fiscal consolidation under the Fiscal Responsibility and Budget Management (FRBM) Act, 2003.

Fiscal Consolidation

• Fiscal consolidation refers to the prudent management of government finances to ensure long-term economic stability.
• It focuses on balancing government revenue (taxes and non-tax receipts) with expenditure, aiming to minimize fiscal deficits, control public debt, and support sustainable economic growth.

Explanation:

• India and Indonesia have announced new initiatives to deepen bilateral cooperation.
• Prime Minister Narendra Modi and Indonesian President Prabowo Subianto discussed many issues to deepen bilateral cooperation.
• Both sides signed many MoUs in the fields of health cooperation, digital infrastructure, and defence collaboration.
• Both countries agreed to cooperate in cutting-edge technologies, including FinTech, Artificial Intelligence, the Internet of Things, and Digital Public Infrastructure.
• The 2025 year will be celebrated as India-ASEAN Year of Tourism.
• Indonesia was the chief guest country on India's first Republic Day.
• Indonesian President Prabowo Subianto is the chief guest of this year’s Republic Day celebrations.
• Indonesia is an important partner for India in the ASEAN and Indo-Pacific regions.

Explanation:

• Government officially announced the implementation of the Unified Pension Scheme (UPS).
• Government had brought in this scheme for government employees in August of last year.
• Government had brought in the UPS as an option under National Pension System for Central Government employees.
• The scheme will become effective on April 1st of this year.
• According to the notification, UPS will apply to Central Government employees who are covered under the National Pension System and who choose this option under NPS.
• Current and future employees can choose to continue with NPS without the UPS option, or they can choose to take the UPS option under NPS.
• Employees who have exercised the UPS option will be ineligible for any policy concessions, changes, financial benefits, or parity with subsequent retirees, including post-retirement.