Weekly Current Affairs Test : 1st to 7th February 2025

Let's analyze each statement to determine its correctness:

1. Statement 1: The National Monetisation Plan aims to monetize assets worth Rs 6 lakh crore over the next 5 years.

- This statement is correct. The government has indeed set a target to monetize assets worth Rs 6 lakh crore under the National Monetisation Plan spanning from 2025 to 2030. This is a significant initiative aimed at unlocking value from brownfield assets, and it is a key part of the infrastructure development strategy.

2. Statement 2: The UDAN scheme has been extended for another 10 years to connect 120 new destinations.

- This statement is correct. The UDAN (Ude Desh ka Aam Naagrik) scheme, which is a regional airport development program, has been given an extension. It aims to enhance connectivity across India by adding 120 new destinations, supporting regional air travel and promoting accessibility.

3. Statement 3: The SWAMIH Fund of Rs 15,000 crore is allocated for the completion of 1 lakh unfinished housing units.

- This statement is correct. The SWAMIH (Special Window for Affordable and Mid-Income Housing) Fund has been set up with a corpus of Rs 15,000 crore to facilitate the completion of stalled housing projects. This initiative is targeted at delivering 1 lakh unfinished housing units, addressing a critical need in the real estate sector.

Since all the statements are correct, the answer is Option D.

A positive workplace culture significantly enhances mental well-being according to the Economic Survey 2025. This correlation is highlighted in the report, indicating that employees who have good relationships with their managers and coworkers experience a 33% increase in mental well-being. Cultivating a supportive and positive work environment can lead to improved mental health outcomes and overall job satisfaction, benefiting both employees and organizations alike.

Both Statement-I and Statement-II are accurate. Statement-I highlights the significance of regulatory bodies in ensuring fair practices and protecting public interests in various sectors, while Statement-II emphasizes the focus of gender budgeting in India on effectively allocating resources to address diverse gender needs and promote gender equality. Furthermore, Statement-II explains how gender budgeting aligns with the goal of equitable resource distribution. Hence, Option (a) is the correct answer.

Statement-I is correct as per the information provided in the text. India indeed targets to become the largest cargo-carrying railway after China with the goal of achieving 100% electrification of its railway network by FY 2025-26.
Statement-II is also correct as the UDAN scheme has been extended for another 10 years with the objective of connecting 120 new destinations. However, Statement-II does not directly explain or relate to Statement-I. Therefore, the correct answer is option (b) as both statements are individually correct, but they are not interrelated or explained by each other.

1. BharatNet - Launched in 2011 to connect Gram Panchayats with optical fiber: Correct. BharatNet was indeed initiated in 2011 with the aim of providing high-speed broadband to all Gram Panchayats in India, and it has successfully connected a large number of Gram Panchayats with optical fiber.

2. Unified Payments Interface (UPI) - Facilitated 49% of global real-time transactions by 2024: Correct. UPI has become a significant player in digital transactions globally, accounting for a substantial share of real-time transactions worldwide by 2024.

3. Aadhaar - Issued 136.65 crore Aadhaar cards by March 2023: Correct. Aadhaar, as India's digital identity system, had issued 136.65 crore cards by the specified date, serving as a fundamental aspect of India's digital infrastructure.

4. DigiLocker - Introduced in 2015 with 46.52 crore users by February 2025: Correct. DigiLocker was launched in 2015 to provide secure digital document access, and its user base reached 46.52 crore by February 2025, reflecting its widespread adoption.

All four pairs are correctly matched based on the outlined details in the provided content.

Regulatory bodies like SEBI are established to regulate and monitor specific sectors of the economy to ensure fair practices and protect public interests. They play a crucial role in enforcing standards, protecting consumer interests, and upholding legal compliance within their respective sectors.

1. Statement 1 is correct. The Mutual Credit Guarantee Scheme indeed provides a 60% guarantee coverage to Member Lending Institutions (MLIs) for loans extended to MSMEs. This feature is designed to reduce the perceived risk for lenders, thereby facilitating increased credit flow to MSMEs.

2. Statement 2 is incorrect. The scheme does not specifically mandate that 75% of the project costs must be allocated for purchasing equipment and machinery. Instead, the scheme requires that at least 75% of the project costs must be covered by the scheme itself, but this does not specifically pertain to the allocation for equipment and machinery.

3. Statement 3 is correct. The scheme is intended to be applicable for a period of four years or until a cumulative guarantee of Rs 7 lakh crore is issued, whichever occurs first. This provides a time-bound framework within which the scheme operates to achieve its objectives.

Thus, the correct answer is Option C. Statement 2 incorrectly describes the allocation requirement, and hence does not contribute to the correct set of statements.

1. A supportive workplace culture - 33% increase in mental well-being : Correct. A supportive workplace culture is indeed associated with a 33% increase in mental well-being as employees who have good relationships with managers and coworkers experience better mental health outcomes.
2. Manageable workloads - 27% decrease in mental well-being : Incorrect. The Economic Survey indicated that employees with manageable workloads actually experience a 27% increase in mental well-being, not a decrease.
3. Remote work flexibility - 17% higher mental well-being scores : Incorrect. The survey found that fully remote employees have 17% lower mental well-being scores compared to those working in hybrid or office settings, due to the importance of social interactions.
4. Avoidance of ultra-processed foods - Improved mental health : Correct. Avoiding ultra-processed foods is linked to better mental health, as a healthy diet supports mental well-being.
Thus, pairs 1 and 4 are correctly matched.

The National Mission on High Yielding Seeds is specifically designed to boost agricultural productivity by creating resilient seed varieties that can withstand pests and climate stresses. This initiative addresses the need for improved agricultural output and sustainability by ensuring farmers have access to high-yielding seeds. Interestingly, while high-yielding varieties can increase productivity, they also raise concerns about biodiversity and the risks associated with monocultures, highlighting the need for careful management in agricultural practices.

Infrastructure development, particularly in sectors such as roads, railways, and civil aviation, significantly enhances transportation efficiency. Improved infrastructure facilitates smoother and faster movement of goods and people, which can lead to increased trade, better access to services, and overall economic growth. Additionally, it contributes to the quality of life by making commuting easier and reducing travel times, thereby enabling citizens to access employment opportunities and essential services more effectively. Interestingly, countries that invest in infrastructure often see a multiplier effect on their economies, where each dollar spent generates additional economic activity beyond the initial investment.

India is recognized as the 3rd largest digitalized economy in the world, following the United States and China. This ranking highlights India's significant advancements in digital infrastructure and its impact on the economy. Digitalization has become a crucial factor in enhancing productivity and driving economic growth, making it essential for the country to continue investing in technology and digital services. An interesting fact is that despite being 3rd in overall digitalization, India ranks 12th among G20 nations in user digitalization, indicating room for improvement in user engagement with digital platforms.

The digital economy contributed 11.74% to India's GDP in 2022-23, and it is projected to rise to 13.42% by 2024-25. This signifies the significant and growing impact of the digital economy on India's overall economic landscape.

Both statements, I and II, are factually correct based on the information provided in the text. Statement-I highlights the positive impact of a supportive workplace culture on mental well-being, while Statement-II correctly points out that excessive workloads and long working hours can have adverse effects on mental health. Furthermore, Statement-II logically explains why a positive workplace culture is essential for mental well-being. The information from the text supports the idea that a positive workplace culture can enhance mental well-being, while excessive workloads and long working hours can have detrimental effects on mental health, thereby justifying the correctness of both statements and the explanation provided.

The National Mission on High Yielding Seeds in India aims to boost agricultural productivity by developing resilient seed varieties that can withstand pests and climate stresses. By creating new seed varieties with improved productivity and ensuring easy access to high-yielding seeds for farmers, this initiative seeks to enhance agricultural output and sustainability in the country.

1. Eligible Borrowers - Correct. The scheme specifies that eligible borrowers are MSMEs with a valid Udyam Registration Number. This aligns with the government 's initiative to ensure that registered MSMEs benefit from improved credit access.

2. Loan Limit - Incorrect. The loan limit under the scheme is up to Rs 100 crore specifically for the purchase of equipment and machinery, not Rs 50 crore. This significant limit is aimed at enabling MSMEs to expand their operations by acquiring necessary equipment.

3. Guarantee Coverage - Correct. The National Credit Guarantee Trustee Company Ltd (NCGTC) provides a 60% guarantee coverage to Member Lending Institutions (MLIs), which helps reduce the risk for lenders and encourages them to extend credit to MSMEs.

4. Project Cost Allocation - Correct. The scheme requires that at least 75% of the project costs must be allocated for the scheme. This condition ensures a substantial portion of the project is covered under the credit guarantee, providing security and assurance for lending institutions.

1. Securities and Exchange Board of India (SEBI) - Statutory Regulatory Body: Correct. SEBI is indeed a statutory regulatory body established by the Government of India to regulate the securities market and protect investors' interests.

2. Bar Council of India - Quasi-Judicial Body: Incorrect. The Bar Council of India is a self-regulatory body, not a quasi-judicial body. It regulates the legal profession and legal education in India.

3. Reserve Bank of India (RBI) - Self-Regulatory Body: Incorrect. The Reserve Bank of India is a statutory regulatory body, not a self-regulatory body. It was established under the Reserve Bank of India Act, 1934, and serves as the central bank of the country, regulating the issuance and supply of the Indian rupee and supervising the financial system.

4. Insurance Regulatory and Development Authority of India (IRDAI) - Statutory Regulatory Body: Correct. IRDAI is a statutory regulatory body established by the Insurance Regulatory and Development Authority Act, 1999, to regulate and develop the insurance industry in India.

Thus, only pairs 1 and 4 are correctly matched.

1. Projected GDP Growth for India in FY26 (2025-26): 6.3% to 6.8%
This is correctly matched. The Economic Survey 2024-25 projects India's GDP growth to be between 6.3% to 6.8% for FY26.

2. Global Economic Growth Projection for 2024: 4.5%
This is incorrectly matched. The Economic Survey 2024-25 projects the global economy to grow by 3.2% in 2024.

3. Growth in India's Agriculture Sector for FY25: 3.8%
This is correctly matched. The Economic Survey forecasts a 3.8% growth in the agriculture sector for FY25, driven by record Kharif production.

4. Return on Assets (RoA) for Indian Banks: 2.0%
This is incorrectly matched. The Economic Survey states that the Return on Assets (RoA) rose to 1.4%.

Two pairs are correctly matched: 1 and 3.

The total infrastructure investment in India for the fiscal year 2025-26 has been reported as Rs 11.2 lakh crore, which marks an increase from Rs 10 lakh crore in the previous fiscal year. This significant rise reflects the government's commitment to bolstering infrastructure as a key driver of economic growth. A noteworthy aspect of this trend is the focus on various sectors such as urban development, transportation, railways, and housing, which are critical for enhancing the country's economic framework and improving quality of life.

According to the Economic Survey 2024-25, the projected GDP growth range for India for the fiscal year 2025-26 is between 6.3% to 6.8%. This projection indicates the expected economic growth trajectory for India in the upcoming fiscal year based on various economic indicators and forecasts. (Note: The question tests the candidate's understanding of the GDP projections mentioned in the Economic Survey and their ability to interpret and apply economic data.)

The main aim of the Mutual Credit Guarantee Scheme for Micro, Small, and Medium Enterprises (MCGS-MSME) is to improve access to credit for MSMEs by providing guarantees for loans, thereby reducing the perceived risk for lenders. By offering this financial security, the scheme encourages lending institutions to provide credit to MSMEs, ultimately supporting their growth and expansion in the market.

1. Statement 1 is correct. The Economic Survey 2024-25 projects India's GDP growth for FY26 to be between 6.3% and 6.8%.

2. Statement 2 is incorrect. The Reserve Bank of India (RBI) held the repo rate at 6.5%, and there is no mention of a reduction to 6.0% in the provided information.

3. Statement 3 is incorrect. The Supreme Court of India, in the case of S. Shobha vs. Muthoot Finance Ltd (2025), ruled that NBFCs are not considered "State" under Article 12, as they do not perform public functions or duties.

Thus, only Statement 1 is correct, making Option A the right choice.

1. Statement 1 is correct. The provided data indicates that a supportive workplace culture correlates with a 33% increase in mental well-being among employees. This aligns with the understanding that positive relationships with managers and coworkers contribute significantly to mental health.

2. Statement 2 is incorrect. The text indicates that long working hours, specifically over 55 hours per week, are associated with increased stress and poorer mental health, rather than better well-being. Therefore, employees working such hours do not report better mental well-being than those with standard working hours.

3. Statement 3 is incorrect. The source material suggests that remote work, while offering flexibility, results in a 17% lower mental well-being score compared to hybrid or in-office settings. This is because social interactions, more prevalent in hybrid or office setups, are vital for maintaining good mental health.

Thus, only Statement 1 is correct, making Option A the right choice.

1. The first statement is correct. The State of India’s Digital Economy Report 2024 highlights that the digital economy contributed 11.74% to the GDP in 2022-23, with projections to rise to 13.42% by 2024-25.

2. The second statement is also correct. UPI, launched in 2016, has rapidly expanded and, by 2024, facilitated 49% of global real-time transactions. This highlights the growth and impact of digital payment systems in India.

3. The third statement is correct as well. BharatNet, a significant initiative to enhance rural digital infrastructure, has successfully connected 2.14 lakh Gram Panchayats as of 2024, ensuring widespread internet access in rural regions.

All three statements accurately reflect the data provided in the context, showcasing the growth and impact of India's digital economy and infrastructure. Therefore, the correct answer is Option D.

1. Statement 1 is correct. Regulatory bodies in India indeed face challenges such as lack of independence due to governmental interference and financial autonomy issues. These factors hinder their effectiveness as they often require approval from ministries for budgets, which can lead to compromised independence.

2. Statement 2 is correct. The Gender Budget 2025-26 is indeed the largest in India's history, with significant allocations aimed at enhancing women's welfare, education, and economic empowerment. It involves the participation of 49 ministries, reflecting a comprehensive approach to addressing gender issues.

3. Statement 3 is incorrect. While India's commitment to gender equality was strengthened by the ratification of CEDAW in 1993, gender budgeting as a formal practice began with the introduction of the Gender Budget Statement in 2005-06, not directly with CEDAW ratification.

Thus, the correct answer is Option B: 1 and 2 Only, as only the first and second statements are accurate based on the provided information.

Statement-I correctly explains the purpose of the Mutual Credit Guarantee Scheme for MSMEs, which is to enhance access to credit for MSMEs by providing guarantees for loans to reduce risk for lenders. Statement-II accurately describes the role of the National Credit Guarantee Trustee Company Ltd (NCGTC) in providing loan guarantees to banks and financial institutions to support underserved sectors like MSMEs, startups, and vulnerable groups. Therefore, both statements are correct, and Statement-II explains Statement-I, making option (a) the correct answer.