MASTER THE CURRENT AFFAIRS – DAY 168

Q.1) With respect to Pegasus, sometimes seen in the news recently, consider the following statements:

1. It is a spyware that infects devices and spies on the victim by transferring data to a master server in an unauthorised manner.
2. It was built and marketed by the Israel based NSO Group.
Which of the statement(s) given above is/are correct?

a. 1 only
b. 2 only
c. Both 1 and 2
d. Neither 1 nor 2

Answer: c
A global collaborative investigative project has recently discovered Israeli spyware Pegasus was used to target thousands of people across the world.
Pegasus Spyware
It is a spyware that infects victims and spies on the victim by transferring data to a master server in an unauthorised manner.
It was built and marketed by the Israel based company, NSO Group.
The company claims to sell it only to Vetted foreign governments worldwide.
Pegasus is the very basic form, can infect devices that are connected to the Internet.
Some updated versions can also infect phones even without the victim clicking on any links or messages.
The software can, based on instructions from a remote server, automatically turn on the microphone and Camera and look into chats, contacts and data backup.

Q.2) Consider the following statements with respective to Conjugal Rights

1. It recognizes the rights in criminal law requiring payment of maintenance and alimony to a spouse.
2. Rakhmabai case of 1884 revolved around restitution of conjugal rights.
Which of the statement(s) given above is/are correct?

a. 1 only
b. 2 only
c. Both 1 and 2
d. Neither 1 nor 2

Answer: C
Conjugal Rights
Conjugal rights are rights created by marriage, i.e. right of the husband or the wife to the society of the other spouse.
The law recognizes the rights i.e. both in personal laws dealing with marriage, divorce etc., and in criminal law requiring payment of maintenance and alimony to a spouse.
Section 9 of the Hindu Marriage Act recognizes one aspect of conjugal rights i.e. the right to consortium and protects it by allowing a spouse to move court to enforce the right.

Q.3) A country’s balance of trade initially worsens following a devaluation of its currency, then quickly recovers and finally surpasses its previous performance – describes which of the following?
a) Laffer Curve effect
b) Kuznets Curve effect
c) Producers responsibility effect
d) J – Curve effect

Answer: D
Notes:
The J-curve effect is often cited in economics to describe, for instance, the way that a country’s balance of trade initially worsens following a devaluation of its currency, then quickly recovers and finally surpasses its previous performance. Source: TMH Ramesh Singh

Q.4) “Tarapore committee” recommendations are related to which of the following?

a) Currency Convertibility
b) Banking reforms
c) Industrial Reforms
d) Agriculture reforms

Answer: A
Notes:
India’s foreign exchange earning capacity was always poor and hence it had all possible provisions to check the foreign exchange outflow, be it for current purposes or capital purposes (remember the draconian FERA). But the process of economic reforms has changed the situation to unidentifiable levels. Current Account: Current account is today fully convertible (operationalized on 19 August, 1994).
It means that the full amount of the foreign exchange required by someone for current purposes will be made available to him at official exchange rate and there could be an un prohibited outflow of foreign exchange (earlier it was partially convertible).
India was obliged to do so as per Article VIII of the IMF which prohibits any exchange restrictions on current international transactions (keep in mind that India was under preconditions of the IMF since 1991).
Capital Account: After the recommendations of the S.S. Tarapore Committee (1997) on Capital Account Convertibility, India has been moving in the direction of allowing full convertibility in this account, but with required precautions. Source: TMH Ramesh Singh.

Q.5) When an increase in one form of net exports drives up a country’s exchange rate, it is called as?

a) French Disease
b) Austria Disease
c) Chinese Fever
d) Dutch Disease

Answer: D
Notes:
When an increase in one form of net exports drives up a country’s exchange rate, it is called the Dutch Disease.
Such instances make other exports non-competitive in the world market and impair the ability of domestic products to compete with imports.
The term originated from the supposed effect of natural gas discoveries on the Netherlands economy.

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