MLC Daily Current Affairs – 28 January 2025

Today in History ( January 28^th,1865)

28 January is celebrated as the birth anniversary of Lala Lajpat Rai, a veteran leader of the Indian Nationalist Movement. He was a revolutionary freedom fighter and one of the three ‘Lal Bal Pal’ triumvirate, the others being Bal Gangadhar Tilak and Bipin Chandra Pal.

Let’s Revise

Q.1) Who is the largest trading partner of India?
a) China
b) European Union
c) United States
d) Japan
Answer: c)
Explanation: The United States is India’s largest trading partner, as mentioned in the context.
Q.2) What was the trade surplus India enjoyed with the US in FY24?
a) US$ 50 billion
b) US$ 36.8 billion
c) US$ 118.2 billion
d) US$ 65.19 billion
Answer: b)
Explanation: India had a trade surplus of US$ 36.8 billion with the US in FY24.
Q.3) Which sector is NOT a key Indian export to the US?
a) Engineering goods
b) Pharmaceuticals
c) Light crude oil
d) Electronic gadgets
Answer: d)
Explanation: While India exports engineering goods, pharmaceuticals, and light crude oil, “electronic gadgets” is not listed among the key Indian exports to the US.
Q.4) Which of the following industries could face challenges due to the potential trade tariffs imposed by the Trump administration?
a) Agriculture
b) Textiles
c) Construction
d) Transport
Answer: b)
Explanation: Indian industries such as textiles, along with pharmaceuticals, IT, and jewelry, could face challenges as their access to the US market shrinks.
Q.5)What is one potential negative effect on India’s economy due to increased tariffs by the US?
a) Increased foreign exchange reserves
b) Enhanced competitiveness in the US market
c) Reduced exports leading to a larger trade deficit
d) Decrease in agricultural subsidies
Answer: c)
Explanation: Increased tariffs may reduce Indian exports to the US, worsening the trade deficit.
Q.6)Which of the following is a suggested strategy for India to counteract the potential impact of US tariffs?
a) Relying exclusively on the US market for exports
b) Diversifying export markets to regions like Latin America and Africa
c) Reducing foreign direct investment inflows
d) Increasing tariffs on US imports
Answer: b)
Explanation: To reduce dependency on the US market, India is advised to diversify its export markets, especially targeting regions like Latin America and Africa.
Q.7) When is the 15th National Voters’ Day observed?
a) January 25, 2025
b) January 26, 2025
c) January 25, 2024
d) February 25, 2025
Answer: a)
Explanation: The 15th National Voters’ Day is observed on January 25, 2025, marking 75 years of the Election Commission of India’s service.
Q.8) What is the theme for the 15th National Voters’ Day (2025)?
a) “Democracy in Action”
b) “Voting is a Right”
c) “Nothing Like Voting, I Vote for Sure”
d) “Power of Every Vote”
Answer: c)
Explanation: The theme for the 15th National Voters’ Day in 2025 is “Nothing Like Voting, I Vote for Sure,” emphasizing the importance of voting in a democracy.
Q.9) Which year marks the establishment of the Election Commission of India (ECI)?
a) 1951
b) 1950
c) 1949
d) 1960
Answer: b)
Explanation: The Election Commission of India was established on January 25, 1950. The National Voters’ Day, established in 2011, marks the foundation of the ECI.
Q.10) What special initiative is NOT mentioned as part of the 15th National Voters’ Day celebrations?
a) Presentation of the ‘Best Electoral Practices Awards’
b) A nationwide essay competition on “Democracy and India’s Future”
c) A nationwide voting campaign for all citizens
d) A commemorative postal stamp
Answer: c)
Explanation: The special initiatives for the 15th National Voters’ Day include a commemorative postal stamp, a nationwide essay competition, and the presentation of the ‘Best Electoral Practices Awards’. A nationwide voting campaign is not mentioned in the content.
Q.11) What is the purpose of the ‘Best Electoral Practices Awards’?
a) To reward the best electoral party
b) To recognize outstanding state and district officials for their contributions to the electoral process
c) To promote voter awareness
d) To encourage voter participation in elections
Answer: b)
Explanation: The ‘Best Electoral Practices Awards’ are presented to state and district officials who have shown outstanding work in the electoral process.
Q.12) In which year was the first National Voters’ Day celebrated?
a) 2010
b) 2011
c) 2012
d) 2015
Answer: b)
Explanation: The National Voters’ Day was established in 2011 to mark the foundation of the Election Commission of India, which was set up on January 25, 1950.

Summary of Today’s News

The operationalization of the Unified Pension Scheme (UPS)

Context: The Ministry of Finance has announced the implementation of the Unified Pension Scheme (UPS) as an option within the National Pension System (NPS) for central government employees, set to take effect on April 1, 2025.
About the Unified Pension Scheme (UPS):
What is it?
The Unified Pension Scheme (UPS) is a contributory pension plan that guarantees government employees retirement benefits, including a monthly pension equal to 50% of their last drawn basic pay.
Ministry:
Introduced by the Ministry of Finance, the UPS will be regulated by the Pension Fund Regulatory and Development Authority (PFRDA).
Launch Date:
The UPS was approved by the Cabinet on August 24, 2024, and will officially begin on April 1, 2025.
Objective:
The UPS aims to resolve employee concerns regarding the market-linked returns of the NPS by offering guaranteed benefits, ensuring financial security after retirement.
Key Features:
• Guaranteed Pension: Employees will receive 50% of their average basic pay from the last 12 months before retirement.
• Dearness Relief: Regular pension hikes will be made to adjust for inflation.
• Family Pension: In the event of an employee’s death, family members will receive 60% of the pension.
• Superannuation Benefits: Retirees will receive a lump sum payout in addition to their gratuity.
• Minimum Pension: Employees with at least 10 years of service will be guaranteed a minimum monthly pension of ₹10,000.
Contributions Under the Scheme:
• Employees will contribute 10% of their basic pay.
• The government will contribute 5% of the employee’s basic pay, with the possibility of revision based on actuarial reviews to maintain the scheme’s sustainability.
Coverage:
• The UPS will apply to central government employees previously enrolled in the NPS.
• Employees hired on or after January 1, 2004, including retirees, have the option to transition from NPS to UPS.
Transition from NPS to UPS:
• NPS pensions were linked to market-driven returns, which created uncertainty for many employees.
• The UPS removes these concerns by providing guaranteed, lifelong monthly pensions, making it a favorable choice for about 99% of current NPS members.

Ramsar Convention on Wetlands

It is an international agreement for the preservation and responsible use of wetlands known as the Ramsar Convention. The agreement was signed on February 2, 1971, in the Iranian city of Ramsar, the same date annually celebrated as World Wetlands Day.
• Wetlands: They are places where water either covers the soil or is present at or near the soil’s surface year-round or for different parts of the year, including the growing season. The Ramsar Convention categorises various natural and human-made diverse water bodies, and habitats as wetlands:
• Natural- Oases, estuaries, deltas, mangroves, coastal areas, coral reefs
• Human- Fishponds, rice paddies, and reservoir
Indore and Udaipur have become the first two Indian cities to make it to the global list of accredited wetland cities under Ramsar Convention on Wetlands.
• Indore: Sirpur Lake (Ramsar Site) recognised for water bird congregation and is being developed as a bird sanctuary.
• Udaipur: Surrounded by five major wetlands, namely, Pichola, Fateh Sagar, Rang Sagar, Swaroop Sagar, and Doodh Talai.
About Wetland City Accreditation (WCA)
• It is a voluntary Accreditation system that provides an opportunity for cities that value their natural or human-made wetlands to gain international recognition and positive publicity for their efforts.
• It was approved at Uruguay in COP12 of Ramsar Convention (2015).
• It is valid for 6 years, after which it must be renewed, providing that it continues to fill each of the 6 criteria (refer image).