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

  1. The retail inflation is measured by the Consumer Price Index (CPI). 
  2. If there is deflation, the CPI will rise over a period of time.

 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 A is correct.

Statement 1 is correct. The retail inflation is measured by the Consumer Price Index (CPI). 

Statement 2 is incorrect. If there is inflation, the CPI will rise over a period of time. If the CPI drops, that means there is deflation, or a steady reduction in the prices of goods and services.

https://indianexpress.com/article/business/economy/india-november-2020-cpi-consumer-price-index-retail-inflation-7104571/

Q2. Consider the following statements regarding the Compensatory Afforestation Fund (CAF)?

  1. The CAF is a nationally constituted authority that presides over a corpus of ₹66,000 crore. 
  2. This is money paid by developers who have razed forest land for their construction projects.

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 CAF is a nationally constituted authority that presides over a corpus of ₹66,000 crore. This is money paid by developers who have razed forest land for their construction projects, and the idea is that such land destroyed needs to be made good by regenerating forest elsewhere on non-forest land.            

https://www.thehindu.com/sci-tech/energy-and-environment/what-the-new-caf-rules-imply/article24782006.ece

Q3. With reference to the startup India Seed Fund Scheme (SISFS), consider the following statements:

  1. It is aimed at providing financial assistance to startups, and will be disbursed through selected incubators.
  2. The scheme will be implemented by the Ministry of Finance.

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. It aims at providing financial assistance to startups, and will be disbursed through selected incubators.

Statement 2 is incorrect. The scheme will be implemented by the Department for Promotion of Industry and Internal Trade.

https://yourstory.com/2021/01/startup-india-seed-fund-operational-april-incubators

Q4. Consider the following statements:

  1. Traditional Knowledge Digital Library (TKDL) is a pioneering initiative of India to protect Indian traditional medicinal knowledge and prevent its misappropriation at International Patent Offices.
  2.  It has structured and classified the Indian Traditional Medicine System into several thousand subgroups for Ayurveda, Unani, Siddha and Yoga.

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. Traditional Knowledge Digital Library (TKDL) is a pioneering initiative of India to protect Indian traditional medicinal knowledge and prevent its misappropriation at International Patent Offices. It has structured and classified the Indian Traditional Medicine System into several thousand subgroups for Ayurveda, Unani, Siddha and Yoga.               

http://www.tkdl.res.in/tkdl/langdefault/common/Abouttkdl.asp

Q5. Consider the following statements regarding the Strengthening Teaching-Learning and Results for States (STARS) project: 

  1. The project is being funded entirely by the government of India.
  2. The project aims at improving the overall monitoring and measurement activities in the Indian school education system through interventions in selected states.

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. Ministry of Education, Department of Economic Affairs (DEA), and World Bank have signed an agreement for the financial support worth Rs 5718 crore towards the implementation of the Strengthening Teaching-Learning and Results for States (STARS) project.             

Statement 2 is correct. The project aims at improving the overall monitoring and measurement activities in the Indian school education system through interventions in selected states.            

https://indianexpress.com/article/education/govt-world-back-sign-agreement-worth-rs-5718-core-under-stars-project-to-develop-education-7166670/

Q6. With reference to the Foreign Contribution Regulation Act, 2010, consider the following statements:

  1. It provides for the manner in which foreign contribution or foreign hospitality is permitted to be accepted and utilized mainly by individuals in India. 
  2. Only government NGOs are allowed to have foreign funding under the act.

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 D is correct.

Both statements are incorrect. It provides for the manner in which foreign contribution or foreign hospitality are permitted to be accepted and utilised by individuals, associations and companies in India. Both private as well as government NGOs are allowed to have foreign funding in India.

https://www.mondaq.com/india/government-contracts-procurement-ppp/1017466/key-insights-on-the-fcra-amendment-act-2020

Q7. Consider the following statements:

  1.  The Terai region in the south of Bangladesh, down the foothill of the Himalayas is referred to as the ‘Madhes region’.
  2. Lipulekh pass, Kalapani and Limpiyadhura are the disputed areas between India and China.

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 D is correct.

Statement 1 is incorrect. The Madheshi are the inhabitants of the Terai region in the south of Nepal at the foothill of the Himalayas on the border to India. Therefore it is called as Madhes region. The region distinguishes itself from the rest of the country by its plain terrain with subtropical climate, in contrast to the high mountain lands inhabited by the hill people of Nepal.

Statement 2 is incorrect. Lipulekh pass, Kalapani and Limpiyadhura are the disputed areas between India and Nepal.

https://unpo.org/members/20426

https://www.bbc.com/news/world-asia-52967452

Q8. With reference to the Eurasian Group on combating money laundering and financing of terrorism, consider the following statements:

  1. It is a United Nation’s regional body, which comprises of nine member-states, including India.
  2. It was established at the initiative of the United States, supported by the FATF, IMF, World Bank and several other countries.

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 D is correct.

Both statements are incorrect. It is a Financial Action Task Force (FATF) styled regional body, which comprises of nine member-states, including India. It was established at the initiative of the Russian Federation, supported by the FATF, IMF, World Bank and several other countries.

http://www.fintraca.gov.af/EAG.html

https://www.un.org/sc/ctc/wp-content/uploads/2019/05/EAG-speech-UNCTED.pdf

Ques  Ans

1-(a)

2-(c)

3-(a)

4-(c)

5-(b)

6-(d)

7-(d)

8-(d)