09 July 2022

Q1. Which of the following step(s) can be taken by the government to reduce the Inflationary gap?

1. Increasing the salaries of government employees.
2. Enhancing the minimum support price(MSP) of the notified agricultural

commodities.

3. Issuing of new dated securities by thegovernment.

Select the correct answer using the codegiven below.

(a) 1 and 3 only

(b) 1 and 2 only

(c) 2 and 3 only

(d) 3 only

ANS-D

Explanation:

• An inflationary gap is a macroeconomic concept that measures the difference between the current level of real GDP and the gross domestic product (GDP) that would exist if an economy was operating at full employment.
• For the gap to be considered inflationary, the current real GDP must be higher than the potential GDP.
• The inflationary gap exists when the demand for goods and services exceeds production
• due to factors such as higher levels of overall employment, increased trade activities or increased government expenditure.
• Therefore, increasing the salaries of government employees and enhancing the minimum support price (MSP) of the notified agricultural commodities will lead to an increase in government expenditure.
• It will create more demand in the economy and further widen the inflationary gap.
• Hence options 1 and 2 are not correct.
• However, following policies or decisions can be taken by the government to reduce inflationary gap such as reductions in government spending, increase in the tax rate, increasing interest rate increases, transfer payment reductions and issuing bond and securities.
• Dated G-Secs are long-term securities which carry a fixed or floating coupon (interest rate) which is paid on the face value, on a half-yearly basis. Generally, the tenor of dated securities ranges from 5 years to 40 years.
• Issuing fresh dated securing will reduce the available money and demand in the market consequently.
• Therefore It will lead to a reduction in an inflationary gap.
• Hence option 3 is correct.

Source àHindu

Q2. Which of the following can be considered as transfer payments?

1. Payment of MGNREGA wages to abeneficiary.
2. Payment of subsidy to a farmer underPM KisanYojana.
3. Payment of pension to a beneficiaryunder the National Old Age Pension

scheme.

Select the correct answer using the codegiven below.

(a) 1, 2 and 3

(b) 1 only

(c) 1 and 3 only

(d) 2 and 3 only

ANS-D

Explanation:

• A transfer payment is a one-way payment to a person or organization which has given or exchanged no goods or services for it.
• This contrasts with a simple “payment,” which in economics refers to a transfer ofmoney in exchange for a product or service.
• Generally, the phrase “transfer payment” is used to describe government payments to individuals throughsocial programs such as welfare, student grants, and even Social Security.
• However, government payments to corporations—including unconditional bailouts and subsidies are not commonly described as transfer payments.
• In MGNREGA, a beneficiary receives payment for the manual work which he/she performs.
• Hence, itcannot be included in the transfer payment.
• When a farmer receives subsidy under PM KisanYojana, he/she performs no work in return.
• Hence, it is included in transfer payment.
• When a beneficiary receives a pension under National Old Age Pension Scheme, again he/she is not performing any work in return. Hence, it is included in transfer payment.
• Hence option (d) is the correct answer.

Source àEconomic Times

Q3. With reference to the Wildlife Protection Act, 1972, consider the following

statements:

1. Whenever new species is discovered by scientists, it is regularly reflected in the

Wildlife Protection Act through an amendment.

2. The revision in the names of the wild species within a genus is also reflected through

an amendment to the Wildlife Protection Act.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 and 2

ANS-D

Explanation:

• Progress made by science in terms of both naming a species as well as identifying new species within a genus is not reflected in WLPA.
• There are new species which have been discovered under a genus, but find no mention in WLPA.
• This is especially true in the case of smaller wildlife such as geckos, frogs, birds and various insects.
• Whenever new species is discovered by scientists, it is regularly reflected in the Wildlife Protection Act through an amendment. It is incorrect because there is no such
• amendment took place till date.
• The revision in the names of the wild species within a genus is also reflected through an amendment to the Wildlife Protection Act.. It is incorrect because there is no such amendment took place till date.

Source àDown To Earth Magazine

Q4. The Start-ups Intellectual Property Protection (SIPP) Scheme aims to:

(a) provide copyrights to Start-ups engaged in the domain of online content creation

(b) guarantee patent rights to start-ups engaged in innovative pharmaceuticals and

vaccine development

(c) ensure compliance of Start-ups with the provisions of the TRIPS agreement

(d) enable support to Start-ups from a registered facilitators to file their application for patents

ANS-D

Explanation:

• Start-ups Intellectual Property Protection (SIPP) scheme launched by Government of India, facilitates the start-ups to file applications for patents, designs and trademarks through registered facilitators in appropriate IP offices by paying only the statutory fees, ensuring final disposal of the IPR application.

Source àPIB

Q5. With reference to New Space India Ltd (NSIL), consider the following statements:

1. It is a central public sector enterprise under the Department of Space
2. It is mandated to enable Indian space industry to scale-up high-technology

manufacturing base.

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

ANS-C

Explanation:

• New Space India Limited (NSIL), a Central Public Sector Enterprise under Department of Space, has been mandated to transfer the technologies emanating out of
• Indian space programme and enable Indian industry to scale up high- technology manufacturing base.

Source àIndian Express

Q6. With reference to ‘Bamboo’, consider the following statements:

1. While Bamboo is the fastest growing plant in the world, Bamboo is one of the slowest

flowering plant in the world.

2. In the life cycle of bamboo plants, gregarious bamboo flowering occurs every year.
3. Bamboo flowering may adversely affect wild animals migration in forests.
4. There is a mass growth of bamboo groves immediately after the bamboo flowering.

Which of the statements given above is/are correct?

(a) 1 and 2 only

(b) 2 and 4 only

(c) 3 and 4 only

(d) 1 and 3 only

ANS-D

• Explanation:
• While Bamboo is the fastest growing plant in the world, Bamboo is one of the slowest flowering plant in the world. It is correct.
• In the life cycle of bamboo plants, gregarious bamboo flowering occurs every year. It is incorrect.
• Gregarious flowering is the most impressive pattern of bamboo flowering.
• Gregarious flowering is when all populations of a particular species of bamboo flowers all at once.
• For most species of bamboo, this can happen at intervals anywhere between 60 to 130 years.
• This flowering cycle is genetically pre-programmed into each species.
• Once a species reaches its life expectancy, the bamboo will flower and produce seeds.
• When a bamboo flowers gregariously, it expends a tremendous amount of energy producing flowers and seeds. The mass flowering stresses the bamboo to such an extent
• that it will die.
• A particular species can flower and die worldwide, regardless of the geographic location.
• This means that the same plant in North America will flower and die at roughly the same time (for the most part) as the same plant in Asia.
• Most bamboos are simply divisions taken from a mother plant at some point (unless if grown from seed). These divisions are re-divided over time and shared across the world.
• Although the divisions are geographically in different locations, they still carry the same genetic makeup.
• Bamboo flowering may adversely affect wild animals migration in forests.
• The gregarious flowering may adversely affect migration, especially by elephants, wild gaur, and other lower herbivores owing to the mass destruction of bamboo groves after the flowering.
• There is a mass growth of bamboo groves immediately after the bamboo flowering.
• There will be mass death of bamboos after the gregarious flowering of bamboos.
• That’s why it affects the migration of animals in the forest.
• Profuse natural regeneration occurs from seeds after gregarious flowering.
• Seeds have no dormancy, and it helps germination under favourable conditions soon after seed fall.
• Henceforth bamboo germination and growth takes its time and immediate mass growth is not possible. statement 4 is incorrect.

Source àHindu

Q7. Which among the following are effectively considered as macronutrients for plants?

1. Nitrogen
2. Iron
3. Zinc
4. Manganese
5. Magnesium

Select the correct answer using the codes given below:

(a) 1 and 5 only

(b) 2, 3 and 4 only

(c) 1 and 3 only

(d) 1, 3, 4 and 5 only

ANS-A

Explanation:

• Macronutrients, as the name suggests, are the nutrients required by the plants in large amounts.
• These include carbon, hydrogen, oxygen, nitrogen, phosphorus, sulfur, calcium and potassium. Carbon, hydrogen, and oxygen are obtained from air and water while the others are obtained from the soil
• Micronutrients are the ones required in very small amounts by the plants.
• There are 7 essential plant nutrient elements defined as micronutrients [boron (B), zinc (Zn), manganese (Mn), iron (Fe), copper (Cu), molybdenum (Mo), chlorine (Cl)]. They constitute in total less than 1% of the dry weight of most plants.In addition to these, some elements like silicon, cobalt, selenium, and sodium are present which are required by higher plants.
• Hence option A is the correct answer.

Source àDown To Earth Magazine

Q8. Which of the following statements regarding the Square Kilometre Array

Observatory (SKAO) is incorrect?

(a) SKAO is world’s largest radio telescope.

(b) SKAO Radio telescope cannot be used in bad weather.

(c) India is part of 10 member SKAO council.

(d) SKAO will be located in Africa and Australia.

ANS-B

Explanation:

• Square Kilometer Array (SKA) Telescope : Recently, the Square Kilometre Array Observatory (SKAO) Council held its inaugural meeting and approved the establishment of the world’s largest radio telescope.
• Location:the telescope, proposed to be the largest radio telescope in the world, will be located in Africa and Australia
• SKAO council is a new intergovernmental organisation dedicated to radio astronomy and is headquartered in the UK. At the moment, organisations from ten countries are a part of the SKAO.
• These include Australia, Canada, China, India, Italy, New Zealand, South Africa, Sweden, the Netherlands and the UK.
• Unlike optical telescopes, radio telescopes can detect invisible gas and, therefore, they can reveal areas of space that may be obscured by cosmic dust.
• Radio telescopes can also be used in bad weather because the radio waves are not blocked by clouds as they pass through the atmosphere.
• ASKAP surveys are designed to map the structure and evolution of the Universe, which it does by observing galaxies and the hydrogen gas that they contain.

Source àIndian Express

Q9. The Neptune Declaration, often mentioned in the media, aims to

(a) Explore and extract mineral samples from Neptune, as adopted by world countries

(b) Recognize the seafarers as the key workers by the government

(c) Fast track efforts by all countries towards achieving SDGs

(d) Provide corona vaccines by developed countries to developing countries

ANS-B

Explanation:

• Neptune Declaration was unveiled at the Davos summit.

This Neptune Declaration outlines four main actions that are needful to address the crew change crisis:

• To recognize the seafarers as the ‘key workers’ by the government and provide them priority access to Covid-19 vaccines;
• To establish and implement the gold standard health protocols which are based on the existing best practice;
• To increase the collaboration between the ship operators and charterers so as to facilitate the crew changes;
• To ensure the air connectivity between the key maritime hubs for seafarers.
• As seafarers are the frontline workers of the maritime industry carrying 90 per cent of global trade, it is extremely important to take care of their mental and physical well- being during unusual circumstances and crises such as pandemic, war, etc.

Source àHindu

Q10. With reference to the Retrofit of Air-conditioning to improve Indoor Air Quality for Safety and

Efficiency (RAISE) programme, consider the following statements:

1. It is a joint initiative of Energy Efficiency Services Limited (EESL) and World Bank.
2. Energy Efficiency Services Limited (EESL) works under the administration of Ministry

of New and Renewable Energy.

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

ANS-D

Explanation:

• Statement 1 is not correct: The Ministry of Power has launches Retrofit of Air-conditioning to improve Indoor Air Quality for Safety and Efficiency (RAISE) – a joint initiative of EESL and USAID’s MAITREE programme. It aims to ensure cleaner and greener office spaces in the country.
• The Market Integration and Transformation Program for Energy Efficiency (MAITREE) is a part of the US-India bilateral Partnership between the Ministry of Power and USAID.
• Statement 2 is not correct: Energy Efficiency Services Limited (EESL), under the administration of the Ministry of Power, is working towards mainstreaming energy efficiency.
• EESL aims to create market access for efficient and future-ready transformative solutions that create a win-win situation for every stakeholder.

• Source àPIB