Test: Weekly Current Affairs: November 15th to 21st - UPSC MCQ

During the 25th Session of IRIGC-TEC, India and Russia set an ambitious trade target to achieve USD 100 billion by 2030. This goal reflects the optimism of both nations in significantly enhancing their trade relations and economic cooperation over the upcoming years.

- Statement 1 is correct. India and Russia have indeed set an ambitious target to achieve USD 100 billion in trade by 2030. This reflects the commitment of both nations to significantly enhance their bilateral trade relations.

- Statement 2 is incorrect. The text specifies that nearly 90% of India-Russia trade is conducted in local or alternative currencies, not freely convertible currencies. This distinction is crucial as it shows a move away from dependence on major international currencies.

- Statement 3 is correct. The meeting emphasized the importance of enhancing connectivity through significant initiatives like the International North-South Transport Corridor (INSTC), which is intended to improve trade links between the two countries.

Thus, the correct answer is Option C: 1 and 3 Only. Statements 1 and 3 are accurate, while Statement 2 does not accurately reflect the current state of currency use in India-Russia trade.

1. Bilateral Trade Target - India and Russia aim for USD 100 billion trade by 2030, not 2025. This pair is incorrectly matched.

2. Key Indian Imports from Russia - This pair is incorrectly matched. India imports oil, petroleum products, fertilizers, minerals, and vegetable oils from Russia, not pharmaceuticals, organic chemicals, and machinery.

3. Sustainability Concern in Tea Production - High water usage is not the primary concern mentioned for tea; rather, it is about chemical use and human-wildlife conflicts. This pair is incorrectly matched.

4. Sustainability Initiative in Sugar Industry - The shift to drip irrigation to conserve water is correctly identified as a sustainability initiative in the sugar industry. This pair is correctly matched.

Thus, only the fourth pair is correctly matched, making the answer Option A: Only one pair.

Statement-I is correct as India and Russia indeed aimed to raise bilateral investment to USD 50 billion and bilateral trade to USD 30 billion by 2025. Statement-II is also correct as it states that for FY 2023-24, bilateral trade reached a historic high of USD 65.70 billion, indicating a significant surpassing of the initial trade targets. Statement-II explains the successful progress made in bilateral trade relations between India and Russia.

The Kumbh Mela festival holds immense cultural and spiritual significance in India, attracting millions of pilgrims seeking spiritual cleansing, cultural celebration, and a sense of unity. This gathering is considered the largest peaceful gathering of pilgrims globally, where attendees bathe in sacred rivers to attain spiritual purification and liberation.

1. Statement 1: The statement is correct. The Kumbh Mela held in Prayagraj takes place at the Triveni Sangam, which is the confluence of the Ganges, Yamuna, and the mythical Saraswati River. This location is significant for its spiritual and religious importance.

2. Statement 2: This statement is incorrect. The Kumbh Mela is not celebrated annually in four locations. Instead, it is held every three years in rotation among four locations: Haridwar, Ujjain, Nashik, and Prayagraj. This makes it a 12-year cycle for each location.

3. Statement 3: This statement is correct. The timing of the Kumbh Mela is indeed determined by the astrological positions of the Sun, Moon, and Jupiter, making it an auspicious event for spiritual practices and rituals.

Therefore, the correct statements are 1 and 3. Thus, the correct answer is Option C: 1 and 3 Only.

Statement-I is correct as the Kumbh Mela is indeed recognized as the largest peaceful gathering of pilgrims worldwide. Statement-II, however, is incorrect as the Kumbh Mela is not celebrated annually at four principal locations but at specific intervals at different locations as mentioned in the provided content. Therefore, while both statements are individually correct, they are not directly related or explained by each other, making Option B the correct choice.

State Finance Commissions (SFCs) in India are primarily tasked with recommending how to distribute financial resources between the state government and local bodies, which include Panchayati Raj Institutions (PRIs) and urban local bodies (ULBs). This role is crucial for ensuring the financial health and autonomy of local bodies and promoting effective service delivery at the grassroots level.

- Statement 1 is correct. The 15th Finance Commission did indeed recommend withholding grants to states that do not comply with the requirement to establish State Finance Commissions (SFCs) as per constitutional mandates. This measure is intended to enforce compliance and ensure that states take the establishment of SFCs seriously.

- Statement 2 is incorrect. The recommendations of State Finance Commissions (SFCs) are not submitted directly to the Finance Commission of India. Instead, SFCs provide their recommendations to the state government regarding the distribution of financial resources between the state and local bodies. The Finance Commission of India deals with the distribution of financial resources between the Union and the states, not directly with SFCs.

- Statement 3 is correct. The establishment of State Finance Commissions is indeed mandated under Article 243-I of the Indian Constitution. This article requires the Governor of a state to constitute a Finance Commission within one year of the 73rd Constitutional Amendment Act (1992) and subsequently every five years.

Therefore, the correct answer is Option C.

1. Article 243-I - Mandates the formation of State Finance Commissions every five years.
This pair is correctly matched. Article 243-I of the Indian Constitution mandates that the Governor of a state set up a State Finance Commission every five years.
2. Ministry of Panchayati Raj - Certifies state compliance for the release of grants.
This pair is correctly matched. The Ministry of Panchayati Raj is responsible for certifying that states comply with constitutional mandates regarding the formation and function of State Finance Commissions before grants are released.
3. 15th Finance Commission - Can withhold grants from states not implementing SFC recommendations.
This pair is correctly matched. The 15th Finance Commission has recommended that grants be withheld from states that do not form State Finance Commissions or fail to implement their recommendations.
4. Governor - Responsible for presenting SFC reports to the state legislature.
This pair is incorrectly matched. While the Governor is responsible for setting up the State Finance Commission, it is typically the responsibility of the state government to present the reports and recommendations of the SFC to the state legislature.
Thus, three out of the four pairs are correctly matched.

- Statement 1 is correct. One of the significant benefits of workforce formalization is the increase in tax revenues. When more workers are brought into the formal economy, the tax base expands, allowing for a fairer distribution of the tax burden and more resources for government services and infrastructure.

- Statement 2 is incorrect. While the EPFO plays a crucial role in providing social security benefits, such as retirement funds, pensions, and insurance, it does not primarily provide healthcare benefits. Healthcare benefits are typically provided through separate schemes or employer-provided insurance, not directly through the EPFO.

- Statement 3 is correct. Formalization fosters a competitive business environment by encouraging entrepreneurship and innovation, as businesses can operate within a legal framework that provides better access to finance and other resources, thus enhancing global competitiveness.

Therefore, the correct statements are 1 and 3, making Option C the right answer.

1. Employee's Provident Fund Organisation (EPFO) - Manages short-term social benefits like health insurance. This statement is incorrectly matched. The EPFO primarily manages long-term social security benefits, including retirement funds, pensions, and insurance under schemes like the Employees' Provident Fund (EPF) and Employees' Pension Scheme (EPS), not short-term benefits like health insurance.

2. Formal Sector Employment - Includes jobs with contracts and social security benefits. This statement is correctly matched. The formal sector is characterized by employment contracts, job security, and access to social security benefits like healthcare, retirement benefits, and insurance.

3. Digital Inclusion - Involves the use of digital tools to enhance workforce transparency and efficiency. This statement is correctly matched. Digital inclusion refers to the integration of digital tools and technologies to improve transparency, efficiency, and access to information in the workforce, facilitating formalization.

4. Informal Sector - Characterized by registered businesses and stable employment contracts. This statement is incorrectly matched. The informal sector is typically characterized by unregistered businesses, lack of formal contracts, and absence of job security and social benefits.

Thus, out of the four pairs, only pairs 2 and 3 are correctly matched.

Statement-I correctly highlights the purpose of the All-India Services (Conduct) Rules, 1968, which indeed establish ethical and professional standards for officers in these services. Statement-II accurately points out a significant issue with these rules, noting the absence of explicit guidelines for officers' behavior on social media, leading to confusion and challenges in setting clear boundaries. While both statements are correct in their respective contexts, Statement-II does not directly explain Statement-I but elaborates on a related deficiency in the rules.

The India-Middle East-Europe Economic Corridor (IMEC) is a significant initiative that aims to connect India with the Middle East, Europe, and Far East Russia through a combination of railway and sea routes. This corridor plays a crucial role in enhancing India's maritime connectivity and trade relationships with these regions.

- Statement 1 is correct. The Chennai-Vladivostok Eastern Maritime Corridor indeed facilitates cargo transport between India and Far East Russia, focusing on essential imports such as crude oil, food products, and machinery. This corridor became operational at the end of 2023, highlighting its relevance in enhancing trade routes between the two regions.

- Statement 2 is incorrect. While the India-Middle East-Europe Economic Corridor (IMEC) connects India to several European countries, the specific mention of Germany and Spain is incorrect. The correct countries mentioned in the context are Italy, France, and Greece. Thus, this statement does not accurately reflect the details provided about the corridor.

- Statement 3 is correct. The Maritime Vision 2047 does aim for significant improvements in various facets of India's maritime sector, including enhancing port handling capacity to 10,000 million metric tonnes per annum by 2047. This vision is part of India's aspiration to become the leading maritime nation by that year.

Thus, only statements 1 and 3 are correct, making Option C the correct answer.

1. Chennai-Vladivostok Eastern Maritime Corridor: Correctly matched. This corridor facilitates cargo transport between India and Far East Russia, focusing on essential imports such as crude oil, food products, and machinery.

2. India-Middle East-Europe Economic Corridor (IMEC): Incorrectly matched. While the IMEC connects India to several regions, including the Middle East and Europe, it does so through a combination of railway and sea routes, not solely through a railway network.

3. Maritime Vision 2047: Correctly matched. This vision aims to enhance port handling capacity to 10,000 million metric tonnes per annum by 2047, alongside other improvements in the maritime sector.

4. Investment in Maritime Infrastructure: Incorrectly matched. The investment is not solely focused on developing mega ports in Maharashtra; it includes various projects like the Vizhinjam international seaport in Kerala and the development of eco-friendly ships.

Thus, only pairs 1 and 3 are correctly matched.

Answer: Option B

• Statement I is correct: India aims to become a leading maritime nation by 2047 and has set a target of increasing port handling capacity to 10,000 million metric tonnes per annum.
• Statement II is also correct: The Chennai-Vladivostok Eastern Maritime Corridor facilitates cargo transport between India and Far East Russia, aimed at boosting trade relations between the two regions.

While both statements are correct, Statement II does not directly explain Statement I; it refers to a specific initiative within the broader maritime vision but does not directly address the overall port capacity goal. Therefore, the correct answer is Option B.

The recent visit of the Prime Minister of India to Nigeria in November 2024 was marked by a significant historical milestone when he was honored with Nigeria's second-highest national award, the Grand Commander of the Order of Niger. This recognition underscored the importance of the visit and the strengthening of bilateral ties between India and Nigeria.

- Statement 1 is correct. The Prime Minister of India's visit to Nigeria in 2024 was indeed the first by an Indian PM in nearly two decades, highlighting a significant diplomatic engagement between the two countries.

- Statement 2 is incorrect. While India is a major investor in Nigeria, particularly in sectors like energy and manufacturing, Nigeria is not the largest African investor in India. The statement is misleading as it suggests a reversed situation of investment flow.

- Statement 3 is correct. The Consumer Price Index (CPI) is a crucial macroeconomic indicator used to measure inflation in India. It is indeed used by the Reserve Bank of India (RBI) to monitor price stability and target inflation. The CPI data helps in formulating monetary policy decisions.

Thus, the correct statements are 1 and 3. Hence, the correct answer is Option C: 1 and 3 Only.

1. Nigeria - India is the largest employer in Nigeria after the government.

This is incorrect. India is the second-largest employer in Nigeria after the government, not the largest. The correct statement is that over 200 Indian companies have invested around USD 27 billion in Nigeria, making India the second-largest employer.

2. Brazil - India supports Brazil's Global Alliance against Hunger and Poverty initiative.

This is correctly matched. During the G20 Summit, India expressed support for Brazil's initiative, indicating collaboration on international platforms.

3. Guyana - India has established a National Defence Academy in Guyana.

This is incorrect. India has not established a National Defence Academy in Guyana. The National Defence Academy and Naval War College mentioned in the context are located in Nigeria, not Guyana.

4. Nigeria - India extended developmental assistance through concessional loans amounting to USD 100 million.

This is correctly matched. India has indeed extended developmental assistance to Nigeria through concessional loans amounting to USD 100 million.

Thus, two pairs are correctly matched: Pair 2 and Pair 4.

Statement-I mentions the discussions between India and Brazil at the G20 Summit, covering various areas of cooperation. Statement-II aligns with Brazil's emphasis on global climate issues, particularly before the UNFCCC COP29 talks. These statements complement each other as Brazil's call for action on climate aligns with the broader discussions on cooperation mentioned in Statement-I.

Carbon Credits are designed to incentivize projects that reduce or remove carbon emissions, thus contributing to environmental conservation and sustainability. By allowing for the trading of carbon emissions reductions, these credits encourage the implementation of eco-friendly practices and initiatives that help combat climate change and promote a greener future.

1. Statement 1 is correct. Projects aimed at eliminating Hydrofluorocarbon (HFC)-23 have indeed shown the highest effectiveness in achieving genuine emissions reductions, with approximately 68% of the credits resulting in real emissions cuts. This makes them one of the most reliable projects in terms of carbon credit effectiveness.

2. Statement 2 is incorrect. While the principle of additionality is a critical component of carbon credit projects, ensuring that emissions reductions go beyond what would occur under standard practices, the study highlighted significant inaccuracies in current assessments. Many projects do not strictly adhere to additionality requirements, leading to credits being issued for reductions that would have occurred regardless of the financial incentives from carbon credits.

3. Statement 3 is correct. The carbon markets under the Paris Agreement are indeed designed to enhance transparency and accountability in emissions reductions. Article 6 of the Paris Agreement facilitates trading carbon credits to help countries meet their climate targets more efficiently and effectively, aiming to build robust and transparent systems.

Thus, the correct answer is Option C: 1 and 3 Only. Statements 1 and 3 accurately reflect the current understanding and objectives of carbon credits and markets, whereas Statement 2 does not accurately describe the adherence to the principle of additionality.

1. HFC-23 Abatement Projects: This pair is correctly matched. The study highlights that these projects have shown the highest effectiveness, with approximately 68% of credits resulting in genuine emissions cuts.

2. Avoided Deforestation Projects: This pair is correctly matched. The study indicates that projects focused on avoiding deforestation achieved only a 25% effectiveness rate in actual emissions reductions.

3. Solar Cooker Deployment Projects: This pair is incorrectly matched. The study found these projects to be less effective, with only 11% of credits leading to actual reductions, not 50%.

4. Voluntary Carbon Markets: This pair is incorrectly matched. In voluntary carbon markets, participants engage in carbon trading to voluntarily offset emissions, often for CSR efforts or market image enhancement, not because they are legally obligated to meet targets, which is the characteristic of compliance markets.

Thus, only pairs 1 and 2 are correctly matched.

Flaws in additionality within carbon credit systems critically impact the integrity of emissions reduction claims. Carbon markets rely on the principle of additionality to ensure that credits are awarded only for emissions reductions beyond what would naturally occur. When this principle is not upheld, the credibility of the entire carbon credit system is undermined, leading to the issuance of credits for projects that would have reduced emissions anyway. This affects the effectiveness of carbon markets in incentivizing genuine emissions reductions and achieving climate goals. Therefore, understanding the concept of carbon markets alongside the implications of flaws in additionality is essential for comprehending the challenges and opportunities in mitigating greenhouse gas emissions effectively.