January 2022 Flashcards
Passage (Q.1-Q5): Union Commerce and Industry Minister Piyush Goyal on Saturday honoured [1] startups along with 1 incubator and 1 accelerator with Union Commerce and Industry Minister Piyush Goyal.
[1] startups honoured with National Startup Awards 2021 the National Startup Awards 2021. This the second edition of National Startup Awards. The sectors included Agriculture, Animal Husbandry, Drinking Water, Education & Skill Development, Energy. Enterprise Technology, Environment, Fintech, Food Processing, Health & Wellness, Industry 4.0, Security, Space and Transport and Travel.
[2] special categories were also introduced to recognize exceptional Startups contributing to the good of the society. The 2021 edition of the awards also recognized exceptional Startups innovating solutions to promote Indic languages and to compliment national efforts to combat COVID-19 pandemic.
- Which of the following will replace [1] in the above passage?
(a) 40 (b) 42 (c) 44 (d) 46 - Which of the following day has been declared as a National Start up day?
(a) 11 January (b) 13 January (c) 16 January (d) 22 January - Which of the following is TRUE about the Status of Start-ups in India?
(a) India is the third largest start-up ecosystem globally.
(b) India has witnessed a greater number of Unicorn startups in just 2021 than it did in the period 2011-20. (c) In this edition of the awards, applications were invited across 15 sectors and 49 sub-sectors. (d) All of the above - Which of the following will replace [2] in the above passage?
(a) 5 (b) 6 (c) 7 (d) 8 - Which among the following is NOT TRUE about the Start-up India Award?
(a) It is designed by Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry.
(b) The aim is to recognize and reward outstanding Startups and ecosystem enablers.
(c) The winning start-up founders will get a cash prize of Rs. 50 lakh and an opportunity to present their solutions to relevant public authorities and corporates.
(d) All applicants were evaluated against six broad parameters namely Innovation, Scalability, Economic Impact, Social Impact, Environmental Impact, and Inclusiveness and Diversity.
1d 2c 3d 4b 5c
Passage (Q.6-Q.10): The income of 84 per cent of households in the country declined in 2021, but at the same time the number of Indian billionaires grew from 102 to [1], an Oxfam report has said, pointing to a stark income divide worsened by the Covid pandemic.
The Oxfam report, [2] released on Sunday ahead of the World Economic Forum’s Davos Agenda, also found that as Covid continued to ravage India, the country’s healthcare budget saw a 10% decline from RE (revised estimates) of 2020-21, , while the budgetary allocation for social security schemes declined from 1.5% of the total Union budget to 0.6%.
The India supplement of the global report also says that in 2021, the collective wealth of India’s 100 richest people hit a record high of Rs 57.3 lakh crore (USD 775 billion). In the same year, the share of the bottom 50 per cent of the population in national wealth was a mere 6 per cent.
- Which of the following will replace [1] in the above passage?
(a) 110 (b) 120 (c) 134 (d) 142 - As per the report, there was a budget cut of how much percentage in the Education from 2020-2021?
(a) 2% (b) 3% (c) 5% (d) 6% - Which of the following is TRUE about Oxfam International?
(a) Oxfam International is a group of independent non-governmental organisations formed in 1995.
(b) The name “Oxfam” comes from the Oxford Committee for Famine Relief, founded in Britain in 1942. (c) The Oxfam International Secretariat is based in Nairobi, Kenya. (d) All of the above - Which of the following will replace [2] in the above passage?
(a) Global Inequality (b) Inequality Kills (c) Money Power (d) Rise of Billionaires - Which of the following is NOT TRUE as per the released report?
(a) India has the third highest number of billionaires in the world, just behind China and the United States.
(b) There was a 39 per cent increase in the number of billionaires in India in 2021.
(c) Oxfam has pointed out that about one-fifth of the increase in the wealth of the richest 100 families was accounted for by the surge in the fortunes of a single individual and business house – the Adanis.
(d) Gautam Adani, ranked 42nd globally and second in India, witnessed his net worth multiply by eight times in a span of one year.
- (d) The income of 84 per cent of households in the country declined in 2021, but at the same time the number of Indian billionaires grew from 102 to 142, an Oxfam report has said, pointing to a stark income divide worsened by the Covid pandemic.
- (d) There was a 6% cut in allocation for education, the Oxfam report says, while the budgetary allocation for social security schemes declined from 1.5% of the total Union budget to 0.6%.
- (d) Oxfam International is a group of independent nongovernmental organisations formed in 1995.
The name “Oxfam” comes from the Oxford
Committee for Famine Relief, founded in Britain in 1942. The group campaigned for food supplies to starving women and children in enemy-occupied Greece during the Second World War.
It aims to maximize efficiency and achieve greater impact to reduce global poverty and injustice. The Oxfam International Secretariat is based in Nairobi, Kenya. - (b) The Oxfam report, “Inequality Kills”, released on Sunday ahead of the World Economic Forum’s Davos Agenda, also found that as Covid continued to ravage India, the country’s healthcare budget saw a 10% decline from RE (revised estimates) of 202021.
- (d) India has the third highest number of billionaires in the world, just behind China and the United States, says the report, with more billionaires than France, Sweden and Switzerland combined — a 39 per cent increase in the number of billionaires in India in 2021.
Oxfam has pointed out that about one-fifth of the increase in the wealth of the richest 100 families was accounted for by the surge in the fortunes of a single individual and business house – the Adanis.
Passage (Q.11-Q.15): A suspected drone attack on three petroleum tankers in [1], the capital of the United Arab Emirates, left three persons — two Indians and a Pakistani national — dead on Monday. Later, the Iran-backed Houthi rebels in [2] claimed responsibility for the attack, warning that the “UAE is an unsafe state as long as its aggressive escalation against [2] continues.”
One of the Arab world’s poorest countries, [2] has been devastated by a near seven-year civil war, which started after Houthis captured the capital Sana’a, following which Saudi-led forces intervened and fought the rebels with the aim of ending Iranian influence in the region and restoring the former government. The UAE joined the Saudi campaign in 2015 and has been deeply involved in the conflict ever since, despite announcing the formal withdrawal of its forces in 2019 and 2020.
- Which of the following will replace [1] in the above passage?
(a) Abu Dhabi (b) Dubai (c) Al Sharjah (d) Ajman - Which of the following is TRUE about the Houthis?
(a) It was founded in the 1990s by Hussein Badreddin al-Houthi.
(b) After Yemeni soldiers killed Hussein in 2004, his brother Abdul Malik took over. (c) The Houthis are actually Zaydis Shias.
(d) All of the above - Which of the following is NOT TRUE about Zaydis?
(a) Zaydis are the oldest branch of the Shia.
(b) The Zaydis are named after Zayd Bin Ali, father-in-law to the Prophet Mohammed.
(c) Zayd Bin Ali had led a revolt against the Ummayad Caliphate in the eighth century. (d) He was killed, but his martyrdom led to the rise of the Zaydi sect. - Which of the following will replace [2] in the above passage?
(a) Yemen (b) Syria (c) Iran (d) Iraq - Which of these is/are the domestic opponents to the Houthis
(a) The new Salafi movement, who oppose them on religious grounds,
(b) The Islah Party affiliated with the Muslim Brotherhood, who fight the Houthis on political grounds. (c) A broad array of nationalists, liberals, and others, who contest their rule by force of arms. (d) All of these
- (a) A suspected drone attack on three petroleum tankers in Abu Dhabi, the capital of the United Arab Emirates, left three persons — two Indians and a Pakistani national — dead on Monday.
- (d) The roots of the Houthi movement can be traced to “Believing Youth” (Muntada al-Shahabal-Mu’min), a Zaydi revivalist group founded by Hussein al-Houthi and his father, Badr al-Din al-Houthi, in the early 1990s.
Badr al-Din was an influential Zaydi cleric in northern Yemen. Inspired by the Iranian revolution of 1979 and the rise of Hezbollah in southern Lebanon in the 1980s, Badr al-Din and his sons started building vast social and religious networks among the Zaydis of Yemen, who make up roughly one-third of the Sunnimajority country’s population. - (b) Zaydis are the oldest branch of the Shia. The Zaydis are named after Zayd Bin Ali, the great grandson of Imam Ali, Prophet Mohammed’s cousin and son-inlaw who Shias, Sunnis and Zaydis revere.
Zayd Bin Ali had led a revolt against the Ummayad Caliphate in the eighth century. He was killed, but his martyrdom led to the rise of the Zaydi sect. While the Zaydis are seen part of the Shia branch of Islam, both in terms of theology and practice, they are different from the ‘Twelver’ Shias of Iran, Iraq and Lebanon. - (a) The Iran-backed Houthi rebels in Yemen claimed responsibility for the attack, warning that the “UAE is an unsafe state as long as its
aggressive escalation against Yemen continues.” - (d) Domestic opponents to the Houthis (Diverse and disunited)- Southerners: They perceive the Houthis as yet another wave of northern invader’s intent upon subduing the South. The new Salafi movement, who oppose them on religious grounds. The Islah Party affiliated with the Muslim Brotherhood, who fight the Houthis on political grounds. A broad array of nationalists, liberals, and others, who contest their rule by force of arms. And finally, the remnants of Saleh’s supporters after his murder in December 2017.
Passage (Q.16-Q.20): The government has put out the eternal flame of the Amar Jawan Jyoti underneath India Gate and merged it with the one instituted at the National War Memorial in [1] a few hundred meters away. The decision kicked off a political row, with Opposition leaders claiming that it was a disrespect to the soldiers who have laid down their lives fighting for the country.
The eternal flame at the Amar Jawan Jyoti underneath India Gate in central Delhi was an iconic symbol of the nation’s tributes to the soldiers who have died for the country in various wars and conflicts since Independence.
Established in [2], it was to mark India’s victory over Pakistan in the 1971 War, which resulted in the creation of Bangladesh. The then Prime Minister Indira Gandhi had inaugurated it on Republic Day [2], after India defeated Pakistan in December 1971.
- Which of the following will replace [1] in the above passage?
(a) 2015 (b) 2016 (c) 2018 (d) 2019 - Which of the following is TRUE about the India Gate?
(a) The earlier name of the India Gate was All India War Memorial.
(b) It was built by British in 1931.
(c) It was erected as a memorial to around 90,000 Indian soldiers of the British Indian Army, who had died in several wars and campaigns till then.
(d) All of the above - Which of the following is NOT TRUE about the National War Memorial?
(a) It was built to commemorate all the soldiers who have laid down their lives in the various battles, wars, operations and conflicts of Independent India.
(b) Discussions to build such a memorial had been ongoing since 1961, but it did not come up.
(c) The architecture of the memorial is based on four concentric circles.
(d) The largest is the Tyag Chakra, the Circle of Sacrifice, has circular concentric walls of honour based on the
Chakravyuh - Which of the following is the reason for the relocation of the flame?
(a) The flame at the Amar Jawan Jyoti was old and difficult to maintain.
(b) The flame at the Amar Jawan Jyoti was not viable financially.
(c) The flame Amar Jawan Jyoti is of only some martyrs who fought for the British and thus is a symbol of our colonial past.
(d) All of the above - Which of the following will replace [2] in the above passage?
(a) 1972 (b) 1973 (c) 1974 (d) 1975
d) The government has put out the eternal flame of the Amar Jawan Jyoti underneath India Gate and merged it with the one instituted at the National War Memorial in 2019 a few hundred meters away.
17. (d) The India Gate, All India War Memorial, as it was known earlier, was built by the British in 1931. It was erected as a memorial to around 90,000 Indian soldiers of the British Indian Army, who had died in several wars and campaigns till then. Names of more than 13,000 dead soldiers are mentioned on the memorial commemorating them. As it was a memorial for the Indian soldiers killed in wars.
18. (d) Largest is the Raksha Chakra or the Circle of Protection which is marked by a row of trees, each of which represent soldiers, who protect the country. The Tyag Chakra, the Circle of Sacrifice, has circular concentric walls of honour based on the Chakravyuh.
- (d) The names inscribed on the India Gate are of only some martyrs who fought for the British in World War 1 and the Anglo Afghan War & thus is a symbol of our colonial past.
The names of all Indian martyrs from all the wars, including “1971 and wars before and after it are housed at the National War Memorial. - (a) Established in 1972, it was to mark India’s victory over Pakistan in the 1971 War, which resulted in the creation of Bangladesh. The then Prime Minister Indira Gandhi had inaugurated it on Republic Day 1972, after India defeated Pakistan in December 1971.
India’s National Tiger Conservation Authority will soon come out with guidelines or standard operating procedures (SOP) for the reintroduction of tigers that can used by other Tiger Range Countries, environment ministry officials said on Friday, hours after environment minister Bhupender Yadav spoke at the 4th Asia Ministerial Conference on tiger conservation organised by [1] and coordinated by the Global Tiger Forum.
Yadav said in his address that India achieved a remarkable feat by country’s doubling the tiger population from 2006 in 2018, [2] years ahead of its goal. He said that the budgetary allocation for tiger conservation has increased from ₹185 crore in 2014 to ₹300 crore in 2022, and added that a Project Tiger-like model was being replicated for the lion, dolphin, leopard, snow leopard and other small wildcats, while the country is on the threshold of introducing cheetah in its historical range.
- Which of the following will replace [1] in the above passage?
(a) India (b) Malaysia (c) Thailand (d) Cambodia - Which of the following is TRUE about the National Tiger Conservation Authority? (a) National Tiger Conservation Authority (NTCA) is a statutory body.
(b) It is constituted under Ministry of Environment, Forests and Climate Change.
(c) It was established in 2005 following the recommendations of the Tiger Task Force. (d) All of the above - Project Tiger was started in India in which of the following years?
(a) 1st April 1972 (b) 1st April 1973 (c) 1St May 1972 (d) 1st May 1973 - Which of the following is NOT TRUE about Tigers in India?
(a) India is home to over 70% of the tiger population globally.
(b) India is home to 51 tiger reserves spread across 18 states
(c) The last tiger census of 2018 showed a rise in the tiger population. (d) Karnataka has the highest number of Tigers in India. - Which of the following will replace [2] in the above passage?
(a) Two (b) Three (c) Four (d) Five
- (b) The conference is an important event for reviewing progress towards the Global Tiger Recovery Programme and commitments to tiger conservation. It was organized by Malaysia and Global Tiger Forum (GTF).
- (d) National Tiger Conservation Authority (NTCA) is a statutory body under the Ministry of Environment, Forests and Climate Change. It was established in 2005 following the recommendations of the Tiger Task Force.
- (b) The Govt. of India had launched “Project Tiger” on 1st April 1973 to promote conservation of the tiger. Project Tiger has been the largest species conservation initiative of its kind in the world.
- (d) Madhya Pradesh leads the states in tiger numbers and, per the 2018 figures, counted 526 of the big cats within its territory. Karnataka was a close second with 524 tigers while Uttarakhand had the thirdhighest population of 444 tigers.
- (c) Yadav said in his address that India achieved a remarkable feat by country’s doubling the tiger population from 2006 in 2018, four years ahead of its goal.
Passage (Q.26-Q.30): Ahead of Assembly polls in five States, the expenditure limit for candidates for Lok Sabha constituencies was increased to ₹75 lakh from ₹54 lakh and ₹95 lakh from ₹70 lakh, depending on the State, while the spending limit for Assembly constituencies was hiked from ₹20 lakh to ₹28 lakh and ₹28 lakh to [1], the Election Commission said on Thursday.
For the upcoming Assembly elections, the enhanced amount of [1] would apply in Uttar Pradesh, Uttarakhand and Punjab and ₹28 lakh in Goa and Manipur, according to the Law Ministry’s notification on Thursday.
Apart from a 10% increase in 2020 due to the COVID-19 pandemic, the last major revision in spending limits for candidates was carried out in [2]. The EC had formed a committee in 2020 to study the spending limit.
- Which of the following will replace [1] in the above passage?
(a) ₹40 lakh (b) ₹42 lakh (c) ₹48 lakh (d) ₹50 lakh - Which of the following will replace [2] in the above passage?
(a) 2010 (b) 2012 (c) 2014 (d) 2016 - Which of the following is NOT TRUE with regards to the Election Commission of India?
(a) Part XV of the Indian constitution deals with elections, and establishes a commission for these matters.
(b) The Election Commission was established in accordance with the Constitution on 25th January 1950.
(c) Originally the commission had only one election commissioner but after the Election Commissioner Amendment Act 1989, it has been made a multi-member body.
(d) The commission consists of one Chief Election Commissioner and three Election Commissioners. - Which article of the Constitution of India provides for the Election commission of India?
(a) Article 78 (b) Article 148 (c) Article 324 (d) Article 320 - Which of the following is TRUE about the Election Expenditure Limits?
(a) Under Section 77 of the Representation of the People Act (RPA), 1951, every candidate shall keep a separate and correct account of all expenditure incurred between the date on which they have been nominated and the date of declaration of the result.
(b) All candidates are required to submit their expenditure statement to the ECI within 30 days of the completion of the elections.
(c) An incorrect account or expenditure beyond the cap can lead to disqualification of the candidate by the ECI for up to three years, under Section 10A of RPA, 1951. (d) All of the above
- (a) While the spending limit for Assembly constituencies was hiked from ₹20 lakh to ₹28 lakh and ₹28 lakh to ₹40 lakh, the Election Commission said on Thursday.
- (c) Apart from a 10% increase in 2020 due to the COVID-19 pandemic, the last major revision in spending limits for candidates was carried out in 2014.
- (d) Originally the commission had only one election commissioner but after the Election Commissioner Amendment Act 1989, it has been made a multimember body.
The commission consists of one Chief Election Commissioner and two Election Commissioners - (c) Article 324 of the Constitution provides that the power of superintendence, direction and control of elections to parliament, state legislatures, the office of president of India and the office of vice-president of India shall be vested in the election commission.
- (d) Under Section 77 of the Representation of the People Act (RPA), 1951, every candidate shall keep a separate and correct account of all expenditure
Passage (Q.31-Q.35): “Union Minister of Jal Shakti Shri [1] announced 3rd National Water Awards-2020, here today. In the Best State category, [2] has been awarded first prize, followed by Rajasthan and Tamil Nadu,” Ministry of Jal Shakti said in a statement.
The ₹3.6 trillion Jal Jeevan Mission (JJM) scheme aims to ensure assured tap water supply or ‘Har Ghar Jal’ to all rural households by 2024, with several states having presented their commitment to provide tap water connections to all rural households before 2024.
“To encourage and recognize individuals and organizations doing exemplary work in the field of water resources management, the Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of Jal Shakti is giving 57 awards to States, Organizations, Individuals etc. in 11 different categories - Best State, Best
District, Best Village Panchayat, Best Urban Local Body, Best Media (Print & Electronic), Best School, Best Institution/RWA/Religious organization for Campus usage, Best Industry, Best NGO, Best Water User Association, and Best Industry for CSR Activity,” the statement said.
- Which of the following will replace [1] in the above passage?
(a) Bhupendra Yadav (b) Gajendra Singh Shekhawat
(c) Anurag Thakur (d) Jitendra Singh - Which of the following is TRUE?
(a) The Jal Shakti Ministry had launched the first ‘National Water Award’ in 2018.
(b) They focus on the good work and efforts made by individuals and organisations across the country, and the government’s vision for the path to ‘Jal Samridh Bharat’.
(c) India has more than 18% of the world’s population, it has only 4% of world’s renewable water resources.
(d) All of the above - Jal Jeevan Mission was started in which of the following years?
(a) 2016 (b) 2018 (c) 2019 (d) 2020 - Which of the following is NOT TRUE about the Jal Jeevan Mission?
(a) Jal Jeevan Mission envisages supply of 90 litres of water per person per day to every rural household through Functional Household Tap Connections by 2024.
(b) The Mission is based on a community approach to water and includes extensive Information, Education and Communication as a key component of the mission.
(c) JJM looks to create a jan andolan for water, thereby making it everyone’s priority.
(d) The total allocation to the scheme is over ₹3 lakh crore. - Which of the following will replace [2] in the above passage?
(a) Andhra Pradesh (b) Uttar Pradesh (c) Telangana (d) Uttarakhand
- (b) “Union Minister of Jal Shakti Shri Gajendra Singh
Shekhawat announced 3rd National Water Awards2020, here today. In the Best State category, Uttar Pradesh has been awarded first prize, followed by Rajasthan and Tamil Nadu,” Ministry of Jal Shakti said in a statement. - (d) The Jal Shakti Ministry had launched the first ‘National Water Award’ in 2018. They focus on the good work and efforts made by individuals and organisations across the country, and the government’s vision for the path to ‘Jal Samridh Bharat’. India has more than 18% of the world’s population, it has only 4% of world’s renewable water resources
- (c) The correct answer is 2019. Jal Jeewan Mission was launched by the Prime Minister in 2019. It was announced by Prime Minister Shri Narendra Modi on 15th August 2019. The Jal Jeevan Mission aims to supply clean and sufficient drinking water to all rural Indian homes through individual household tap connections by 2024.
- (a) Jal Jeevan Mission (JJM) envisages supply of 55 litres of water per person per day to every rural household through Functional Household Tap Connections (FHTC) by 2024.
- (b) “Union Minister of Jal Shakti Shri Gajendra Singh
Shekhawat announced 3rd National Water Awards2020, here today. In the Best State category, Uttar Pradesh has been awarded first prize, followed by Rajasthan and Tamil Nadu,” Ministry of Jal Shakti said in a statement.
Passage (Q.36-Q.40): The Ministry of Home Affairs (MHA) did not notify the Citizenship (Amendment) Act, 2019 rules till Sunday, the third extended deadline after the Act was passed. January 9 was the last day of an extension it sought from the two parliamentary committees in the Lok Sabha and the Rajya Sabha to frame the rules.
It was not imminently clear if the Ministry had sought more time from the committee on subordinate legislation in the two Houses of Parliament to notify rules that will govern the CAA. Without rules, the Act cannot be implemented. Earlier, it had sought time till April 9, 2021 and then July 9, 2021 from the committees to notify the rules which are to be published in the Gazette of India. The MHA did not respond if an extension has been sought from the committees.
On November 30 last, Minister of State for Home Nityanand Rai informed the Lok Sabha: “The persons covered under the CAA may apply for citizenship after the rules are notified under the CAA.”
- Which of the following is NOT TRUE about the committee on subordinate legislation? (a) The committee on subordinate legislation exists in both Lok Sabha and Rajya Sabha (b) The total strength of the committee is 30 members in each house.
(c) In case the ministries/departments are not able to frame the rules within the prescribed period of six months after legislation is passed, “they should seek extension of time from the Committee on Subordinate Legislation stating reasons for such extension.
(d) The extension granted by the ministry cannot be more than for a period of three months at a time. - The CAA provides citizenship on the basis of religion to the undocumented communities from how many religions?
(a) 2 (b) 3 (c) 4 (d) 6 - Citizenship Amendment Act is alleged to violate which of the following fundamental Right?
(a) Article 14 (b) Article 15 (c) Article 17 (d) Article 19 - The CAA also exempts the members of these communities from any criminal case under which of the following acts?
(a) Foreigners Acts, 1946 (b) Passport Act, 1920
(c) Sarfaesi Act, 2002 (d) Both a and b - Citizenship is a subject of which of the following lists?
(a) Union List (b) State List (c) Concurrent List (d) Residuary List
- (b) The total strength of the committee is 30 members in each house.
- (d) The CAA provides citizenship on the basis of religion to six undocumented non-Muslim communities (Hindus, Sikhs, Buddhists, Jains, Parsis and Christians) from Pakistan, Afghanistan and Bangladesh who entered India on or before 31st December, 2014.
- (a) Critics argue that it is violative of Article 14 of the Constitution (which guarantees the right to equality and is applicable to both the citizens and foreigners) and the principle of secularism enshrined in the preamble of the constitution.
- (d) It exempts the members of the six communities from any criminal case under the Foreigners Act, 1946 and the Passport Act, 1920. The two Acts specify punishment for entering the country illegally and staying here on expired visas and permits.
- (a) Defence, External Affairs, Railways, Naturalisation and Citizenship are some of the subjects in the union list, which has 97 items.
Passage (Q.41-Q.45): India is likely to overtake Japan as Asia’s second-largest economy by 2030 when its GDP is
also projected to surpass that of Germany and the U.K. to rank as the world’s No. [1], [2] said in a report on Friday.
“India’s nominal GDP… is forecast to rise from $2.7 trillion in 2021 to $8.4 trillion by 2030,” [2] said. “This rapid pace of economic expansion would result in the size of Indian GDP exceeding Japanese GDP by 2030, making India the second-largest economy in the Asia-Pacific region.” By 2030, the Indian economy would also be larger in size than the largest Western European economies of Germany, France and the U.K. The long-term outlook for the Indian economy is supported by a number of key growth drivers.
“An important positive factor for India is its large and fast-growing middle class, which is helping to drive consumer spending,” [2] said, forecasting that the country’s consumption expenditure will double from $1.5 trillion in 2020 to $3 trillion by 2030.
- Which of the following will replace [1] in the above passage?
(a) 2nd (b) 3rd (c) 4th (d) 5th - Currently India ranks at what position in terms of the largest economy by GDP?
(a) 4th (b) 5th (c) 6th (d) 7th - Which of the following is NOT TRUE about GDP?
(a) GDP is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period.
(b) It includes anything produced within its borders by the country’s citizens and foreigners.
(c) It is primarily used to assess the health of a country’s economy.
(d) According to the International Monetary Fund, in 2019, China is the world’s largest economy, followed by USA and India. - India has ranked at which of the following place in terms of number of unicorns of any country?
(a) 2nd (b) 3rd (c) 4th (d) 5th - Which of the following will replace [2] in the above passage?
(a) IHS Markit (b) ServiceNow (c) Cognizant (d) Xilinx
41 b
- (c) Currently, India is the sixth-largest economy, behind the U.S., China, Japan, Germany and the U.K.
- (d) According to the International Monetary Fund, in 2019, the United States is the world’s largest economy, followed by China and Japan
- (b) India is now home to the third-highest number of unicorns of any country after the United States and China, having overtaken the UK. Here’s a look back at the 39 Indian startup unicorns of 2021.
- (a) India is likely to overtake Japan as Asia’s secondlargest economy by 2030 when its GDP is also projected to surpass that of Germany and the U.K. to rank as the world’s No.3, IHS Markit said in a report on Friday
Passage (Q.46-Q.50): Former RBI Governor [1] has been appointed as a Vice President of the Beijing-based multilateral funding institution AIIB, according to sources in the bank on Sunday.
India is a founding member of the Asian Infrastructure Investment Bank (AIIB) with the second highest voting share after China. It is headed by former Chinese vice minister for finance Jin Liqun.
Patel, 58, will be one of the five Vice Presidents of the AIIB with a three-year tenure. He is expected to take over his posting next month.
He will succeed outgoing Vice President [2], who is in charge of sovereign and non-sovereign lending of the AIIB in South Asia, the Pacific Islands and South-East Asia, AIIB sources told PTI.
- Which of the following will replace [1] in the above passage?
(a) Raghuram Rajan (b) Shaktikanta Das (c) S. Jaishankar (d) Urijt Patel - Where is the Headquarter of the Asian Infrastructure Investment Bank located?
(a) Tokyo (b) Beijing (c) New Delhi (d) Shanghai - Which of the following is NOT TRUE about AIIB?
(a) The AIIB, launched in Beijing in 2015.
(b) It has approved more loans for India than any other member of the bank.
(c) China is its biggest shareholder and India is the second-largest. (d) The U.S. and Japan are not among its 90 members. - Which of the following will replace [2] in the above passage?
(a) D J Pandian (b) Konstantin Limitovskiy
(c) Ludger Schuknecht (d) Luky Eko Wuryanto - AIIB was given permanent observer status by both the United Nations General Assembly and the Economic and Social Council in which of the following years?
(a) 2016 (b) 2018 (c) 2019 (d) 2020
- (d) Former RBI Governor Uriit Patel has been appointed as a Vice President of the Beijing-based multilateral funding institution AIIB, according to sources in the bank on Sunday.
- (b) The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank headquartered in
Beijing. - (d) The bank currently has 105 members, including 16 prospective members from around the world.
- (a) He will succeed outgoing Vice President D J Pandian, who is in charge of sovereign and nonsovereign lending of the AIIB in South Asia, the Pacific Islands and South-East Asia, AIIB sources told PTI.
- (b) In 2018, AIIB was granted Permanent Observer status in the deliberations of both the United Nations General Assembly and the Economic and Social Council, the two development-focused principal organs of the global body.
Passage (Q.51-Q.55): The WTO lacks a proper definition of a developing nation although two-thirds of its [1] members classify themselves as developing. Prima facie, it does appear anomalous that the world’s second-largest economy— which accounted for a quarter of global GDP growth in 2021—considers itself as the largest developing country. Being a developing country has a bearing on special and differentiated treatment (S&DT), which allows developing and poor countries certain benefits.
At a time when developed nations are pushing WTO-reforms that would dilute S&DT provisions, India has indicated that it will fight for preserving S&DT for the developing world. Given New Delhi has earlier said it is open to discussions on which country should be considered developing, it must take the lead in this regard.
As WTO members can declare themselves developing nations, this provides an advantage to nations like China to expand their dominance in global trade even while classifying themselves as developing and thereby obtaining S&DT.
- Which of the following will replace [1] in the above passage?
(a) 148 (b) 164 (c) 189 (d) 194 - Which of the following is one of the benefits of Special and Differential Treatment at WTO?
(a) Longer time periods for implementing agreements and commitments
(b) Provisions requiring all WTO members to safeguard the trade interests of developing countries
(c) Support to help developing countries build the infrastructure to undertake WTO work, handle disputes, and implement technical standard
(d) All of the above - The World Bank assigns the world’s economies into how many income groups?
(a) 2 (b) 3 (c) 4 (d) 6 - Which of the following agreement established the World Trade Organisation?
(a) Marrakesh Agreement (b) Uruguay Agreement
(c) Vienna Agreement (d) Montreal Agreement - Which of the following about WTO is not TRUE?
(a) The GATT 1947 was terminated and WTO preserved its provisions in form of GATT 1994 and continues to govern trade in goods.
(b) The WTO is a UN specialized agency.
(c) The topmost decision-making body of the WTO is the Ministerial Conference, which usually meets every two years.
(d) The General Council convenes as the Dispute Settlement Body (DSB) to deal with disputes between WTO members.
- (b) The WTO lacks a proper definition of a developing nation although two-thirds of its 164 members classify themselves as developing.
- (d) The WTO agreements contain special provisions which give developing countries special rights and allow other members to treat them more favourably.
These are “special and differential treatment provisions” (abbreviated as S&D or SDT). The special provisions include:
• longer time periods for implementing agreements and commitments
• measures to increase trading opportunities for these countries
• provisions requiring all WTO members to safeguard the trade interests of developing countries
• support to help developing countries build the infrastructure to undertake WTO work, handle disputes, and implement technical standard
• provisions related to least-developed country (LDC) members - (c) The World Bank assigns the world’s economies to four income groups—low, lower-middle, uppermiddle, and high-income countries.
- (a) The Uruguay Round, conducted from 1987 to 1994, culminated in the Marrakesh Agreement, which established the World Trade Organization (WTO).
55 (b) The WTO is not a UN specialized agency, it has maintained strong relations with the UN and its agencies since its establishment.
The WTO-UN relations are governed by the
“Arrangements for Effective Cooperation with other Intergovernmental Organizations-Relations between the WTO and the United Nations” signed on 15 November 1995.
