Q1. Consider the following statements regarding the institutions of World Bank Group:

  1. The World Bank Group has total five institutions.
  2. Together, International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA) form the World Bank.

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 World Bank Group has total five institutions, which are World Bank, IFC, IDA, MIGA, ICSID. Together, International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA) form the World Bank, which provides financing, policy advice, and technical assistance to governments of developing countries.   

https://www.worldbank.org/en/who-we-are

Q2. Consider the following statements:

  1. The provision of Union Budget is itself mentioned in the Indian Constitution.
  2. Budget is the statement of calculated or recorded receipts and expenditure of the government in a financial year.

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. The provision of Union Budget is itself mentioned in the Indian Constitution (article 112).

Statement 2 is incorrect. Budget is the statement of estimated receipts and expenditure of the government in a financial year.   

https://indianexpress.com/article/business/budget-2021-live-updates-nirmala-sitharaman-income-tax-healthcare-economy-gdp-coronavirus-atmanirbhar-bharat-7168814/

Q3. With reference to the Hydrogen Energy, consider the following statements:

  1. Recently, the Hydrogen Energy Mission 2021-22 was announced by the government of India, for generating hydrogen from green power sources.
  2. Hydrogen from renewable power is technically viable today and is quickly approaching economic competitiveness.

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. Recently, the Hydrogen Energy Mission 2021-22 was announced by the government of India, for generating hydrogen from green power sources. Hydrogen from renewable power is technically viable today and is quickly approaching economic competitiveness.

https://www.downtoearth.org.in/news/energy/union-budget-2021-22-india-to-launch-hydrogen-energy-mission-75314

Q4. Consider the following statements:

  1. An Agriculture Infrastructure & Development Cess (AIDC), has been announced in the Budget 2020-21 by the government recently. 
  2. This Cess is applicable on cereals as well as horticulture crops.

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. An Agriculture Infrastructure & Development Cess (AIDC), has been announced in the Budget 2002-21 by the government recently. 

Statement 2 is incorrect. This Cess is applicable on petrol and diesel. But, the amount levied as AIDC is being counter-balanced by an equal reduction in Basic Excise Duty & Special Additional Excise Duty to the same extent, thus ensuring nil impact on fuel.

https://economictimes.indiatimes.com/news/economy/agriculture/will-the-new-agriculture-infrastructure-development-cess-affect-common-man/articleshow/80634404.cms?from=mdr

Q5. Which of the following forms the part of revenue receipt of the government?

  1. Corporation tax
  2. Custom duties
  3. Union Excise duties

Select the correct answer using the codes given below:

(a) 1 only                                                         

(b) 2 and 3 only

(c) 1 and 2 only

(d) 1, 2 and 3

Option D is correct.

 Revenue receipts of the government, Corporation Tax, Income Tax, Custom Duties, Union Excise Duties and GST and taxes of Union territories.

https://www.financialexpress.com/what-is/fiscal-deficit-meaning/1620295/

Q6. What is “Stardust 1.0”, seen recently in the news?

(a) First missile launched by ISRO for cleaning the space debris   

(b) First commercial space launch powered by biofuel

(c) A rover made by NASA to move on the surface of moon

(d) A satellite launched by SpaceX to provide global internet facility

Option B is correct. Stardust 1.0 was launched from Loring Commerce Centre in Maine, US, a former military base, becoming the first commercial space launch powered by biofuel, which is non-toxic for the environment as opposed to traditionally used rocket fuels.

https://indianexpress.com/article/explained/explained-what-is-stardust-1-0-the-first-rocket-to-run-on-biofuel-7170230/

Q7. With reference to the contributions made by Swami Vivekananda in the cultural history of India, consider the following statements:

  1. He founded the Ramakrishna Missionat the monastery of Belur Math on the Ganges Rivernear Calcutta           
  2. Prabuddha Bharata' is a monthly journal which was started by Swami Vivekananda. 

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. He founded the Ramakrishna Mission at the monastery of Belur Math on the Ganges River near Calcutta. Prabuddha Bharata' is a monthly journal which was started by Swami Vivekananda.                 

 https://www.hindustantimes.com/india-news/pmmodi-to-address-125th-anniversary-celebrations-of-prabuddha-bharata-journal-101612060396380.html

Q8. Consider the following statements:

  1. Biothermal energy is a type of renewable energy derived from the heat and gas byproducts of composting organic material.
  2. Algae cannot be used as a biofuel, as it would produce a lot of emissions.

 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. Biothermal energy is a type of renewable energy derived from the heat and gas byproducts of composting organic material.     

Statement 2 is incorrect. To help mitigate the problem of large arable land use, companies are turning to water-based solutions in the form of algae production.

https://www.investopedia.com/terms/b/biofuel.asp                                  

Ques  Ans:

1-(c)

2-(a)

3-(c)

4-(a)

5-(d)

6-(b)

7-(c)

8-(a)