Daily Current Affairs MCQ: 16th September 2024 - Bank Exams MCQ

The decline in labor-intensive jobs in India can primarily be attributed to the growth of the services sector, particularly in fields like IT, banking, and finance. This shift has reduced the reliance on traditional industries, which are essential for low-skilled employment, leading to a significant gap between high-skilled and low-skilled job opportunities. Interestingly, while the services sector has expanded, it hasn't effectively absorbed the large segments of the workforce that traditional manufacturing used to employ.

The increase in import tariffs, particularly on essential intermediate inputs, has significantly raised production costs for Indian producers. Since 2017, the average Most Favoured Nation (MFN) tariff has risen, which diminishes competitiveness in the global market. An interesting aspect of this situation is that while tariffs can protect domestic industries, they can also lead to higher prices for consumers and reduce the overall efficiency of the economy.

Climate change has been linked to the increased intensity of tropical cyclones due to rising sea surface temperatures. Warmer oceans provide more heat and moisture, which can lead to stronger winds and heavier rainfall during cyclones. This phenomenon is significant, as studies indicate that cyclones are not only intensifying but are also forming closer to coastlines, resulting in greater impacts on land when they make landfall.

Glacier retreat primarily occurs due to melting caused by rising global temperatures. As average temperatures increase, glaciers lose mass more rapidly than they can accumulate snow. This process leads to significant environmental impacts, such as rising sea levels and altered water supplies for ecosystems and communities that rely on glacial meltwater. Interestingly, while glacier retreat indicates climate change, it can also lead to the formation of new ecosystems that might help sequester carbon.

Microorganisms, such as bacteria and algae, play a crucial role as the first colonizers in post-glacier landscapes. They help initiate soil formation by breaking down rocks and organic matter, paving the way for more complex plant life to thrive. This process is vital for ecosystem recovery and enhancing biodiversity, as it supports the development of new habitats for various species.

The National Jute Board (NJB) plays a significant role in supporting the jute sector in India by promoting modernization, increasing productivity, and facilitating both domestic and international marketing of jute products. Founded under the National Jute Board Act, the NJB implements various initiatives to improve cultivation techniques and the diversification of jute products, ensuring the sector's sustainability and economic viability.

The increase in import tax on edible oils is primarily aimed at supporting local farmers who are struggling with low oilseed prices. By raising the import duties, the government seeks to make imported oils more expensive, thereby encouraging consumers to buy more domestically produced oils, which can help stabilize local farmers' incomes. This move reflects a broader strategy to enhance agricultural self-sufficiency in India.

Palm oil is the largest contributor to India's vegetable oil imports, primarily sourced from countries such as Indonesia, Malaysia, and Thailand. This reliance on palm oil illustrates India's significant dependence on international markets for its edible oil needs, as the country imports over 70% of its total vegetable oil consumption.

India's domestic production of edible oil is projected to reach 16 million tonnes by 2030. This projection is part of a broader strategy to enhance self-sufficiency in edible oil production, which currently sees a significant gap between demand and domestic output. Efforts to increase this production involve improved agricultural practices and technological advancements.

In response to the devastation caused by Typhoon Yagi, India initiated Operation Sadbhav to provide humanitarian assistance and disaster relief to affected countries like Laos, Myanmar, and Vietnam. This initiative not only highlights India's commitment to disaster response but also aligns with its broader strategy to enhance cooperation in humanitarian efforts within the ASEAN region. It reflects the increasing importance of regional partnerships in addressing natural disasters.