Q1. Which of the following statements is/are correct?

  1. PIO is a residential status given to a citizen of India with an Indian Passport who resides in a foreign country for the purpose of work/business, or education.
  2. NRI is an identification status given to whom or whose any of the ancestors was a permanent Indian resident/citizen and who is currently holding valid citizenship and passport of another country.

 Select the correct answer using the codes given below:

 (a) 1 only           

(b) 2 only

 (c) Both 1 and 2       

(d) Neither 1 nor 2

Option D is correct.

Both statements are incorrect. Non-resident Indian (NRI) is a residential status given to a citizen of India with an Indian Passport who resides in a foreign country for the purpose of work/business, or education. Person of Indian Origin (PIO) is an identification status given to whom or whose any of the ancestors was a permanent Indian resident/citizen and who is currently holding valid citizenship and passport of another country.

https://www.holisticinvestment.in/nri-pio-oci/

Q2. Which one of the following best describes the ‘K-shaped economic recovery’, sometimes seen in the news?

(a) Economic recovery characterized by a slow rate of recovery, with persistent unemployment and stagnant economic growth.

(b)  When different sections of an economy recover at starkly different rates.

(c) Recovery in which after the economy suffers a sharp economic decline, it then quickly and strongly recovers. 

(d) When the economy experiences a sharp decline, without a clearly defined trough but instead a period of stagnation followed by a relatively healthy rise back to its previous peak.              

Option B is correct. When different sections of an economy recover at starkly different rates, it is called K-shaped economic recovery.

https://indianexpress.com/article/explained/explained-ideas-what-is-a-k-shaped-economic-recovery-and-what-are-its-implications-7141416/

Q3. Consider the following statements:

  1. Tax evasion is an illegal activity in which a person or entity deliberately avoids paying a true tax liability.
  2. Tax avoidance uses legal means to lower the obligations of a taxpayer. 

Which of the Statements given above is/are correct?

(a) 1 only            

(b) 2 only

 (c) Both 1 and 2       

(d) Neither 1 nor 2

Option C is correct.

Both statements are correct. Tax evasion is an illegal activity in which a person or entity deliberately avoids paying a true tax liability. Tax avoidance uses legal means to lower the obligations of a taxpayer

https://www.investopedia.com/terms/t/taxevasion.asp#:~:text=Tax%20evasion%20is%20an%20illegal,Service%20(IRS)%20tax%20code.

Q4. Which of the following statements is/are correct?

  1. A utility patent prohibits other individuals or companies from making, using, or selling the invention without authorization.
  2. India does not provide for the provision of utility patent grant, under the Indian Patent Act.

 Select the correct answer using the codes given below:

 (a) 1 only

(b) 2 only

 (c) Both 1 and 2       

(d) Neither 1 nor 2

Option C is correct.

Statement 1 is correct. A utility patent prohibits other individuals or companies from making, using, or selling the invention without authorization. When most people refer to a patent, they are most likely referring to a utility patent.

Statement 2 is correct: Not all countries offer the utility patent protection. India is one of them. In India the provision related to utility patent grant is not present.

https://www.iipta.com/utility-patents-position-india/

https://www.investopedia.com/terms/u/utility-patent.asp

Q5. Consider the following statements regarding the implications of retaining the Stubble on the fields:

  1. Leguminous stubbles provide slow release nitrogen, which helps in optimizing crop production and overcome microbial nitrogen tie-up in soil.
  2. The retention of stubble reduces the sequestration of carbon in to the soil. 

Which of the Statements given above is/are correct?

(a) 1 only

(b) 2 only

 (c) Both 1 and 2       

(d) Neither 1 nor 2

Option A is correct.

Statement 1 is correct. Leguminous stubbles provide slow release nitrogen, which helps in optimizing crop production and overcome microbial nitrogen tie-up in soil. Stubble is approximately 45% carbon by weight and represents a significant input of carbon to soil.

Statement 2 is incorrect. Therefore, its retention enhances the sequestration of carbon in to soil. 

http://soilquality.org.au/factsheets/benefits-of-retaining-stubble-nsw

Q6. With reference to the leather industry in India, consider the following statements:

  1. The Leather industry in India accounts for around half of the world’s leather production of hides.
  2. India is the second largest producer of leather garments in the world.

Which of the Statements given above is/are correct?

(a) 1 only

(b) 2 only

 (c) Both 1 and 2       

(d) Neither 1 nor 2

Option B is correct.

Statement 1 is incorrect. The Leather industry in India accounts for around 12.9% of the world’s leather production of hides.

Statement 2 is correct. India is the second largest producer as well as exporter of leather garments in the world. Also, Fifth largest exporter of leather goods & accessories in the world.

 https://www.investindia.gov.in/sector/leather

Q7. Consider the following statements:

  1. The 'Smartgram' initiative, is aimed at transforming villages into happy, harmonious and hi-tech places.
  2. It was inaugurated for five villages of Haryana, which was supposed to be extended to 100 villages in the vicinity.

 Which of the statements given above is/are correct?

 (a) 1 only

(b) 2 only

 (c) Both 1 and 2       

(d) Neither 1 nor 2

Option C is correct.

Both statements are correct. The 'Smartgram' initiative, aimed to transform villages into happy, harmonious and hi-tech places, was launched by the foundation named after the former president of India. The initiative was inaugurated for five villages of Haryana, which was supposed to be extended to 100 villages in the vicinity.

https://economictimes.indiatimes.com/news/politics-and-nation/smartgram-initiatives-aimed-to-transform-villages-pranab-mukherjee/articleshow/65648070.cms

Q8. With reference to the Nuclear Energy Agency (NEA), consider the following statements:

  1. It is an intergovernmental organisation of industrialised countries, organized within the framework of Organization for Economic Co-operation and Development (OECD).
  2. For attracting and retaining more women into careers in the physical sciences and technology, the NEA works with its members to explore new and creative approaches.

 Which of the Statements given above is/are incorrect?

(a) 1 only

(b) 2 only

(c) Both 1 and 2        

(d) Neither 1 nor 2

Option D is correct.

Statement 1 is correct. It is an intergovernmental organisation of industrialised countries, organized within the framework of Organisation for Economic Co-operation and Development (OECD).

Statement 2 is correct.  For attracting and retaining more women into careers in the physical sciences and technology, the NEA works with its members to explore new and creative approaches.

https://www.oecd-nea.org/

Ques  Ans:

1-(d)

2-(b)

3-(c)

4-(c)

5-(a)

6-(b)

7-(c)

8-(d)                     

  1. Who are the Overseas Citizens of India (OCIs)? How are they different from the NRIs? Discuss the benefits provided and restrictions imposed upon them in India?