AIM - GS questions based on daily current affairs

1)   Which of the following statements is/are correct about Atal Innovation Mission (AIM)?

1. Vice Chairman of NITI Aayog will serve as chairman of the mission.
2. A panel on innovation under Chairmanship of Sam Pitroda was appointed to work out the detailed contours of Atal Innovation Mission (AIM).


a. Only 1
b. Only 2
c. Both
d. None
Answer  Explanation 

ANSWER: Only 1

Explanation:
- A panel on innovation under Chairmanship of Prof. Tarun Khanna was appointed to work out the detailed contours of Atal Innovation Mission (AIM).
- AIM would have 4 working groups: Idea and Networks, Angel Funds, Governance and Innovation and Missions.

Recommendations of a panel on innovation lead by Prof. Tarun Khanna:

- Improved tax benefits for investments equivalent to a percentage of corporate profits in research labs in universities and startups.
- All contracts with foreign defence companies above $5 billion should include a clause for five per cent of contract value to be directed to establish research-centric universities with strong emphasis on its core product areas in particular and broadly focused on the related areas in general.
- “Grand Prizes” approach to finding ultra-low-cost solutions to India’ s most intractable problems.
- Increase in investment in business incubators with up to Rs.200 crore public spending per year and roping in the private sector for the purpose.
- Establishing a ‘fund-of-funds (FOF)’ by the government to seed other early stage venture funds with a corpus of Rs.5,000 crore.


2)   Which of the following statements are true about Atal Innovation Mission?

1. The Atal Innovation Mission (AIM) is being set up under Ministry of Youth Affairs.
2. It will have an initial fund of Rs 150 crore for research and development.


a. Only 1
b. Only 2
c. Both 1 and 2
d. None of the above
Answer  Explanation 

ANSWER: Only 2

Explanation:
The Atal Innovation Mission (AIM) is being set up under NITI. It will be an Innovation Promotion Platform involving academics, entrepreneurs, and researchers drawing upon national and international experiences to foster a culture of innovation, R&D in India.