Stay Tuned with Daily Current Affairs Newspaper Quiz for UPSC 2026
Question 1
Economy | Finance | Medium | Live Mint
SOURCE
Consider the following statements:
1. The 14th Finance Commission recommended the establishment of GST Compensation Fund.
2. The 15th Finance Commission increased the share of states in the central taxes to be 41%.
Which of the statements above is or are correct?
A) Only one
B) Only two
C) Both 1 and 2
D) None of the above
Solution & Detailed Explanation
Answer: (A) Only one
Detailed Explanation
Statement 1 is correct: The 14th Finance Commission recommended the establishment of GST Compensation Fund which will provide the state governments a compensation in case there is any loss with respect to GST.
Statement 2 is incorrect: The 15th Finance Commission decreased the share of states in the central taxes to be 41%. The 14th finance commission originally provided for 42% share of the states which was decreased to 41%.
Question 2
International Relations | Treaties | Easy | Indian Express
SOURCE
Consider the following statements:
1. Non-compliance with NPT results in de-nuclearization of the nation.
2. Iran was one of the original signatories of the NPT.
Which of the statements above is or are correct?
A) Only one
B) Only two
C) Both 1 and 2
D) None of the above
Solution & Detailed Explanation
Answer: (B) Only one
Detailed Explanation
Statement 1 is incorrect: NPT was signed in 1970, and non-compliance does not lead to de-nuclearization but enhanced checks and increased diplomatic talks. The last resort leads to the confiscation of the assets produced by the defaulting nation by the International Atomic Agency.
Statement 2 is correct: NPT was first a treaty between the USA, Soviet Union and UK in 1968. It was open to signatures and ratifications and Iran was one of the original signatories of the NPT in 1970, one of the first nations to verify and ratify the treaty.
Question 3
Economy | Markets | Medium | Indian Express
SOURCE
Consider the following statements:
1. Deep discount bonds offer a longer maturity period.
2. Deep discount bonds are riskier than other bonds.
3. Deep discount bonds provide tax advantages.
How many statements is or are correct?
A) Only one
B) Only two
C) All the three
D) None of the above
Solution & Detailed Explanation
Answer: (C) All the three
Detailed Explanation
Deep discount bonds are bonds sold at a price significantly below their face value, for a period more than 5 years, often at a discount of 20% or more. They are typically zero-coupon bonds, meaning they don’t pay regular interest payments. Instead, investors earn a return by buying the bond at a discount and redeeming it at its face value upon maturity. Statement 1 is correct.
Key Characteristics of Deep Discount Bonds:
Issued at a Discount: The defining feature is their issuance at a price lower than their face value.
Zero-Coupon: They usually don’t pay periodic interest payments.
Maturity Value: The investor receives the full face value of the bond when it matures.
Higher Risk/Higher Return: Deep discount bonds can offer higher potential returns due to the discounted price and the potential for capital appreciation. Statement 2 is correct.
Interest Rate Sensitivity: Deep discount bonds can be more sensitive to interest rate fluctuations. Their prices can fluctuate more significantly than traditional bonds.
Deep Discount Bonds in the Indian Context
The bonds are available in denominations of ₹1,000 with a minimum investment of ₹5,000. Unlike other bonds, the income from these bonds is tax-exempt under the Income Tax Act, 1961. This structure makes them appealing to long-term investors. Statement 3 is correct.
Question 4
Economy | Trade | Easy | The Hindu
SOURCE
Consider the following statements:
1. India directly imports oil from Iran leading to the supply chain disruption.
2. Global supply decreased in a single day after Israel-Iran conflict.
3. Gold prices dropped too due to decreased demand.
How many statements is or are correct?
A) Only one
B) Only two
C) All the three
D) None of the above
Solution & Detailed Explanation
Answer: (A) Only one
Detailed Explanation
Statement 1 is incorrect: India imports crude oil from UAE, Iraq and Saudi Arabia.
Statement 2 is correct: Global supply of oil decreased by 8% in a single day after the Israel-Iran conflict.
Statement 3 is incorrect: Gold prices increased over 1 lakh for 10 grams in India as gold is an asset and easy to hedge the price.
Question 5
Science and Technology | Space | Easy | The Hindu
SOURCE
How many pairs are correctly matched?
Roscosmos – Russia
CNES – Germany
CONAE – Spain
How many pairs are correctly matched?
A) Only one
B) Only two
C) All the three
D) None of the above
Solution & Detailed Explanation
Answer: (A) Only one
Detailed Explanation
Roscosmos – Russia
CNES – France
CONAE – Argentina
Question 6
Environment | Acts | Medium | Indian Express
SOURCE
Consider the following:
1. FRA provides for local self-governance.
2. The Nodal Agency under FRA is notified by the state governments individually in each state.
Which of the statements above is or are correct?
A) Only one
B) Only two
C) Both 1 and 2
D) None of the above
Solution & Detailed Explanation
Answer: (A) Only one
Detailed Explanation
Statement 1 is correct: Objective of the Forest Rights Act:
To empower and strengthen the local self-governance.
To address the tenurial security and the livelihood security of the people, leading to poverty alleviation and pro poor growth.
To address the issues of Conservation and management of the Natural Resources and secure the ecosystem.
Statement 2 is incorrect: Section 11 of FRA deals with Nodal agency which states that “The Ministry of the Central Government dealing with Tribal Affairs or any officer or authority authorised by the Central Government on this behalf shall be the nodal agency for the implementation of the provisions of this Act.”
Question 7
International Relations | International Organisations | Medium | The Hindu
SOURCE
Consider the following statements: (UNGA committees)
Economic and Financial Committee – First Committee
Legal Committee – Fifth Committee
Disarmament & International Security – Second Committee
How many pairs are correctly matched?
A) Only one
B) Only two
C) All the three
D) None of the above
Solution & Detailed Explanation
Answer: (D) None of the above
Detailed Explanation
Question 8
Science and Technology | Nuclear Energy | Easy | Live Mint
SOURCE
Consider the following statements:
1. U-235 is stable, and U-239 is unstable.
2. Uranium hexafluoride is volatile, white solid used for uranium enrichment.
3. Uranium is highly explosive similar to RDX.
How many statements is or are correct?
A) Only one
B) Only two
C) All the three
D) None of the above
Solution & Detailed Explanation
Answer: (A) Only one
Detailed Explanation
Statement 1 is incorrect: U-235 is unstable, and U-239 is stable. For a chain reaction to begin, U-235 is used so that a single thermal proton may collide with U-235 releasing 3 protons and by-products. These 3 protons further collide with U-235 and the chain reaction begins.
Statement 2 is correct: Uranium hexafluoride is a volatile, white solid used for uranium enrichment. The ideal percentage of enrichment is 90% for the uranium to be used in chain reactions.
Statement 3 is incorrect: U-235/239 is not explosive like RDX or TNT. It is just in its stable or unstable form. In its unstable form, it only requires a proton to begin the chain reaction to release nuclear energy. All the nuclear equipment and devices comes with a safety net (like boron 10) to stop the reaction.
