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IASbaba’s 60 Day Plan – IAS Prelims Test Series 2021 – ECONOMICS, CURRENT AFFAIRS & CSAT [Day 33]

  • IASbaba
  • April 28, 2021
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IASbaba Prelims 60 Days Plan
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Hello Friends, 

ARCHIVES OF 60 DAYS

NOTE: IASbaba’s 60 DAY questions will be posted around 10 AM. The solution will be released around 5 PM Daily. 

Let us pledge to make it a big game-changer (better than last year) in the next 60 days! 

Note- Download the OMR Sheet and attempt the questions exactly like UPSC Prelims. After you are done, please post your OMR in the comment section. Once the solution key is released (around 5 PM), cross-check the answers and, comment the marks (you scored) in the same comment thread. This will keep you accountable, responsible and sincere in days to come. 

You can also take part in the discussion with peers.  


ECONOMICS [DAY 33] 


Q.1) Recently 15th Finance Commission submitted its interim report for 2020-2021, consider the following statements:

  1. It has recommended maintaining the vertical devolution at 41%.
  2. For horizontal devolution, it has suggested 2.5% weightage to forest and ecology.
  3. In vertical devolution, it has allocated 1% allocation for all UTs.

 Which of the following statements is/are correct?

  1. 1 only
  2. 1 and 2 only
  3. 2 and 3 only
  4. 1 and 3 only

Q.2) Which among the following is correct with respect to central theme of Union Budget 2020-21 of India?

  1. Ease of living for all citizens
  2. Gaon, Garib and Kisan
  3. Faster, More Inclusive and Sustainable Growth
  4. Towards faster and more inclusive growth

Q.3) Which of the component is NOT the part of Capital Budget?

  1. The money earned by selling assets (or disinvestment)
  2. The money received in the form of borrowings or repayment of loans by states
  3. The money earned by the government through tax
  4. The long-term investments by the government on creating assets

Q.4) Consider the following statements with reference to the Railways’ share in overall budget and identify the correct statement:

  1. It has steadily increased since FY18 and in FY22 it saw a marginal increase.
  2. It has steadily increased since FY18 and in FY22 it suffered a marginal decline.
  3. It has steadily decreased since FY18 and in FY22 it saw a marginal increase.
  4. It has steadily decreased since FY18 and in FY22 it suffered a marginal decline.

Q.5) In order to improve agricultural infrastructure in the country, Finance Minister recently announced an Agriculture Infrastructure and Development Cess (AIDC) on which of the following items?

  1. Petrol
  2. Diesel
  3. Apples
  4. Alcohol

Choose correct answer:

  1. 2 and 4
  2. 1, 2 and 3
  3. 1 and 2
  4. 1, 2, 3 and 4

Q.6) With reference to Pigovian tax, consider the following statements:

  1. A Pigovian tax is intended to tax the producer of goods or services that create adverse side effects for society.
  2. A carbon emissions tax is example of Pigovian taxes.

Which of the following statements is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Q.7) Consider the following statements with reference to Corporate Tax in India:

  1. Corporate tax is an expense of a business levied by the government.
  2. Recently in India the corporate tax rate reduced from 30% to 22% for all companies.
  3. It is a direct tax.

Which of the following statement is/are correct?

  1. 1 and 2 only
  2. 2 only
  3. 2 and 3 only
  4. 1 and 3 only

Q.8) Consider the following statements about Property Tax and identify the correct statement:

  1. Property tax is assessed by central government and collected by state government.
  2. The tax amount is fixed in the state and does not depend on the area of the property.
  3. Property tax comprises taxes like lighting tax, water tax, and drainage tax.
  4. Even the vacant plots of land without an adjoining construction are liable to be taxed.

Q.9) Recently the term ‘Escape clause’ of Fiscal Responsibility and Budget Management (FRBM) Act in was in news. Consider the following statements with regard to it:

  1. Escape clause refers to the situation under which the central government can flexibly follow fiscal deficit target during special circumstances
  2. The clause allows the government to relax the fiscal deficit target for up to 100 basis points

Which of the following statements is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Q.10) With reference to Financial Stability and Development Council, consider the following statements:

  1. It is a non-statutory apex council under the Ministry of Finance
  2. It aim to enhancing inter-regulatory coordination in India
  3. It is chaired by Governor of Reserve Bank of India

Which of the following statements is/are incorrect?

  1. 1 only
  2. 1 and 2 only
  3. 2 and 3 only
  4. 1 and 3 only

Q.11) Which of the following can be the key adverse effects on the economy due to persistent trade deficit?

  1. It forces a country to constantly look to foreign investors to make up the gap between its export earnings and its import payouts.
  2. It leads to a steadily weakening home currency.
  3. It weakens domestic industries and decreases job opportunities.

Choose correct answer:

  1. 3 only
  2. 2 and 3
  3. 1 and 3
  4. 1, 2 and 3

Q.12) In the context of economic recession, which of the following actions can be considered a part of the “fiscal stimulus” package?

  1. Lowering interest rates
  2. Cutting tax rates
  3. Increasing Govt. spending
  4. Abolishing the subsidies

Select the correct answer using the codes given below

  1. 1, 2 and 4
  2. 1, 2 and 3
  3. 1, 3 and 4
  4. 1, 2, 3 and 4

Q.13) Which of the following statements is/are correct regarding fiscal deficit?

  1. It leads to crowding-out of private investment.
  2. It leads to inflation in economy.
  3. It leads to increase in primary deficit.

Select the correct answer using the code given below:

  1. 1 and 3 only
  2. 2 only
  3. 2 and 3 only
  4. 1, 2 and 3

Q.14) Consider the following statements about Equalization levy or Google tax:

  1. It was introduced in India with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India.
  2. It is aimed at taxing (B2B) business to business transactions.

Which of the statements given above is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Q.15) Consider the following statements about taxes levied on imported goods

  1. Countervailing duty is levied on goods that are sold below the prices in exporting country.
  2. Anti-dumping duty is levied to counterbalance the subsidies provided by the government of exporting country.

Which of the above statements is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Q.16) Which of the following can be possible effect when the RBI slashes policy interest rates aggressively?

  1. It may bring changes in liquidity in the market
  2. Central Bank is following a tight money policy
  3. Less liquidity in the market
  4. Market will be flooded with an unprecedented amount of liquidity

Q.17) Which of the following are treated as Revenue expenditure of the Centre?

  1. Making interest payments on debt
  2. Subsidies
  3. Grants in aid
  4. All grants given to the State Governments/UTs

Choose correct answer:

  1. 1, 2 and 3
  2. 1 and 4
  3. 2 and 3
  4. 1, 2, 3 and 4

Q.18) Which of the following statements best denote the term “primary deficit”?

  1. It is obtained by knowing the difference between revenue receipts and revenue expenditure.
  2. It is calculated by excluding the grants given by the Centre to States and Union Territories for creation of capital assets.
  3. It is obtained by deducting the interest payments on previous borrowings from the fiscal deficit.
  4. It denotes the extent to which the Centre will have to borrow in the fiscal year to meet the revenue shortfall.

Q.19) Recent Budget has finally proposed the setting up of a bad bank. Which of the following statements best denote the term “bad bank”?

  1. It is a bank that buys the bad loans of other lenders and financial institutions to help clear their balance sheets.
  2. They are banks with poor balance sheet and the Centre has finally laid down a roadmap for privatisation of such banks.
  3. It is a term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks but outside normal banking regulations.
  4. It is a bank that is blacklisted by the Public Sector Asset Rehabilitation Agency (PARA) due to its rising bad loans or NPAs.

Q.20) Which of the following are considered as the strategic sectors under the recently unveiled Strategic Disinvestment Policy?

  1. Transport and Telecommunications
  2. Atomic energy, Space and Defence
  3. Banking, Insurance and financial services
  4. Petroleum, Coal and other minerals

Choose correct option:

  1. 1, 2 and 4
  2. 1 and 2
  3. 1, 2 and 3
  4. 1, 2, 3 and 4

Q.21) The G-7 is a bloc of industrialized democracies. Which of the following countries are  members of G-7?

  1. United States
  2. Germany
  3. Russia
  4. Italy
  5. Japan

Select the correct answer using the code given below:

  1. 1, 2 and 5 only
  2. 1, 2, 4 and 5 only
  3. 2, 3 and 5 only
  4. 1, 2, 3, 4 and 5

Q.22) Which of the following are the most likely places to find the Caracal, a medium-sized wild cat in its natural habitat?

  1. Sariska Tiger Reserve
  2. Simlipal Tiger Reserve
  3. Ranthambhore Tiger Reserve
  4. Buxa Tiger Reserve

Select the correct answer using the code given below:

  1. 1 and 2 only
  2. 3 and 4 only
  3. 1 and 3 only
  4. 2 and 4 only

Q.23) Consider the following statements:

  1. The cost of issuing green bonds in India has generally remained lower than other bonds.
  2. Green bonds constituted about 10 percent of all the bonds issued in India since 2018.
  3. Most of the green bonds in India are issued by the public sector units or corporates with better financial health.

Which of the statements given above is/are correct as per recent Reserve Bank of India (RBI) study?

  1. 1 and 2 only
  2. 2 and 3 only
  3. 3 only
  4. 1 and 3 only

Q.24) Risa is a customary handwoven cloth worn by tribal women of which of the following State?

  1. Assam
  2. Tripura
  3. Manipur
  4. Mizoram

Q.25) Consider the following statements:

  1. National Atomic Timescale is the authorized body to realize and maintain the Indian Standard Time.
  2. The National Environmental Standards Laboratory measures the performance of various air ambient and emission pollution monitoring equipment.

Which of the statements given above is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Q.26) Who among the following acts as Chairperson of the National Startup Advisory Council?

  1. Prime Minister of India
  2. Union Minister for Commerce & Industry
  3. CEO of NITI Aayog
  4. None of the above

Q.27) With reference to International Energy Agency (IEA), consider the following statements:

  1. It is a specialized agency of the United Nations (UN).
  2. It was established in the wake of the 1973 oil crisis.
  3. India is not a member of IEA.

Which of the statements given above is/are correct?

  1. 1 and 3 only
  2. 2 only
  3. 2 and 3 only
  4. 1, 2 and 3

Q.28) The Ratle Hydro Electric Project is located on which of the following rivers?

  1. Jhelum
  2. Chenab
  3. Ravi
  4. Rapti

Q.29) The Longitudinal Ageing Study of India (LASI) Wave-1, India Report was recently released by which of the following Ministry?

  1. Ministry of Home Affairs
  2. Ministry of Social Justice and Empowerment
  3. Ministry of Health and Family Welfare
  4. Ministry of Statistics and Programme Implementation

Q.30) Recently, the Ministry of Environment has released the Report on Management Effectiveness Evaluation (MEE) for Protected Areas. In this context consider the following statements:

  1. MEE is assessment of how well National Park and Wildlife Sanctuaries are being managed.
  2. The assessment process was adopted from UNEP framework of MEE.
  3. The present MEE exercise evaluated 903 Protected Areas of India.

Which of the statements given above is/are correct?

  1. 1 only
  2. 1 and 2 only
  3. 2 and 3 only
  4. 1, 2 and 3

Read the following two passages and answer the items that follow. Your answer to these items should be based on the passages only

Passage 1

Aggression is any behavior that is directed toward injuring, harming, or inflicting pain on another living being or group of beings. Generally, the victims of aggression must wish to avoid such behavior in order for it to be considered true aggression. Aggression is also categorized according to its ultimate intent. Hostile aggression is an aggressive act that results from anger, and is intended to inflict pain or injury because of that anger. Instrumental aggression is an aggressive act that is regarded as a means to an end other than pain or injury. For example, an enemy combatant may be subjected to torture in order to extract useful intelligence, though those inflicting the torture may have no real feelings of anger or animosity toward their subject. The concept of aggression is very broad, and includes many categories of behavior (e.g., verbal aggression, street crime, child abuse, spouse abuse, group conflict, war, etc.). A number of theories and models of aggression have arisen to explain these diverse forms of behavior, and these theories/models tend to be categorized according to their specific focus. The most common system of categorization groups the various approaches to aggression into three separate areas, based upon the three key variables that are present whenever any aggressive act or set of acts is committed. The first variable is the aggressor him/herself. The second is the social situation or circumstance in which the aggressive acts occur. The third variable is the target or victim of aggression.

Regarding theories and research on the aggressor, the fundamental focus is on the factors that lead an individual (or group) to commit aggressive acts. At the most basic level, some argue that aggressive urges and actions are the result of inborn, biological factors. Sigmund Freud (1930) proposed that all individuals are born with a death instinct that predisposes us to a variety of aggressive behaviours, including suicide (self-directed aggression) and mental illness (possibly due to an unhealthy or unnatural suppression of aggressive urges). Other influential perspectives supporting a biological basis for aggression conclude that humans evolved with an abnormally low neural inhibition of aggressive impulses (in comparison to other species), and that humans possess a powerful instinct for property accumulation and territorialism. It is proposed that this instinct accounts for hostile behaviours ranging from minor street crime to world wars. Hormonal factors also appear to play a significant role in fostering aggressive tendencies. For example, the hormone testosterone has been shown to increase aggressive behaviours when injected into animals. Men and women convicted of violent crimes also possess significantly higher levels of testosterone than men and women convicted of non-violent crimes. Numerous studies comparing different age groups, racial/ethnic groups, and cultures also indicate that men, overall, are more likely to engage in a variety of aggressive behaviours (e.g., sexual assault, aggravated assault, etc.) than women. One explanation for higher levels of aggression in men is based on the assumption that, on average, men have higher levels of testosterone than women.

Q.31) “An enemy combatant may be subjected to torture in order to extract useful intelligence, though those inflicting the torture may have no real feelings of anger or animosity toward their subject.” Which one of the following best explicates the larger point being made by the author here?

  1. In certain kinds of aggression, inflicting pain is not the objective, and is no more than a utilitarian means to achieve another end.
  2. When an enemy combatant refuses to reveal information, the use of torture can sometimes involve real feelings of hostility.
  3. Information revealed by subjecting an enemy combatant to torture is not always reliable because of the animosity involved.
  4. The use of torture to extract information is most effective when the torturer is not emotionally involved in the torture.

 

Q.32) All of the following statements can be seen as logically implied by the arguments of the passage except

  1. Freud’s theory of aggression proposes that aggression results from the suppression of aggressive urges.
  2. The Freudian theory of suicide as self-inflicted aggression implies that an aggressive act need not be sought to be avoided in order for it to be considered aggression.
  3. A common theory of aggression is that it is the result of an abnormally low neural regulation of testosterone.
  4. If the alleged aggressive act is not sought to be avoided, it cannot really be considered aggression.

Passage 2

174 incidents of piracy were reported to the International Maritime Bureau last year, with Somali pirates responsible for only three. The rest ranged from the discreet theft of coils of rope in the Yellow Sea to the notoriously ferocious Nigerian gunmen attacking and hijacking oil tankers in the Gulf of Guinea, as well as armed robbery off Singapore and the Venezuelan coast and kidnapping in the Sundarbans in the Bay of Bengal. For [Dr. Peter] Lehr, an expert on modern-day piracy, the phenomenon’s history should be a source of instruction rather than entertainment, piracy past offering lessons for piracy present.

But, where does piracy begin or end? According to St Augustine, a corsair captain once told Alexander the Great that in the forceful acquisition of power and wealth at sea, the difference between an emperor and a pirate was simply one of scale. By this logic, European empire-builders were the most successful pirates of all time. A more eclectic history might have included the conquistadors, Vasco da Gama and the East India Company. But Lehr sticks to the disorganised small fry, making comparisons with the renegades of today possible. The main motive for piracy has always been a combination of need and greed. Why toil away as a starving peasant in the 16th century when a successful pirate made up to £4,000 on each raid? Anyone could turn to freebooting if the rewards were worth the risk.

Increased globalisation has done more to encourage piracy than suppress it. European colonialism weakened delicate balances of power, leading to an influx of opportunists on the high seas. A rise in global shipping has meant rich pickings for freebooters. Lehr writes: “It quickly becomes clear that in those parts of the world that have not profited from globalisation and modernisation, and where abject poverty and the daily struggle for survival are still a reality, the root causes of piracy are still the same as they were a couple of hundred years ago.”

Q.33) “A more eclectic history might have included the conquistadors, Vasco da Gama and the East India Company. But Lehr sticks to the disorganised small fry.” From this statement we can infer that the author believes that:

  1. Colonialism should be considered an organised form of piracy.
  2. The disorganised piracy of today is no match for the organised piracy of the past.
  3. Lehr does not assign adequate blame to empire builders for their past deeds.
  4. Vasco da Gama and the East India Company laid the ground for modern piracy.

 

Q.34) “Why toil away as a starving peasant in the 16th century when a successful pirate made up to £4,000 on each raid?” In this sentence, the author’s tone can best be described as being:

  1. Facetious, about the hardships of peasant life in medieval England.
  2. Ironic, about the reasons why so many took to piracy in medieval times.
  3. Analytical, to explain the contrasts between peasant and pirate life in medieval England.
  4. Indignant, at the scale of wealth successful pirates could amass in medieval times.

Q.35) In a certain code language,

‘3a, 2b, 7c’ means ‘Truth is Eternal’;

‘7c, 9a, 8b, 3a’ means ‘Enmity is not Eternal’

‘9a, 4d, 2b, 8b’ means ‘Truth does not perish’.

Which of the following means ‘enmity’ in that language?

  1. 3a
  2. 7c
  3. 8b
  4. 9a

NOTE- Follow this for Comments

  1. Mention- Time Taken after solving the Test

  2. After the release of Solution, Edit your Comment to Mention-  Correct/Incorrect and Score

  3. 2 Marks for Correct/0.66 minus for Incorrect.


What IMPACT can the ‘60 Day’ have on the final results? We will explain by taking a small example. Imagine you are sitting in the examination hall, appearing in Prelims Paper I. You have attempted 70 questions already but still unsure about a few. Then you stumble upon a question that was asked in 60 Day (and believe us, it has happened to hundreds of students countless times). You choose the right answer and submit your paper hoping for the best! Eventually, you go on to clear Mains as well as Personality Test and secure a good rank as well. When the cut off gets announced by UPSC, you realize that you have scored just one mark more than the cut off! Yes, that one mark can change your life (and it has done so to many of our students in the past). Now, imagine the kind of impact 60 to 80 marks can have! Isn’t that so fascinating to imagine?  

One’s level of preparedness is always different for different subjects. Even within a subject, one’s comfort level may vary with topics. For example, one might be more comfortable in solving questions of Polity than Economics and within Polity also, one might be at ease with questions on fundamental rights than Parliament. The level of comfort and ease that one has with a subject/ topic gets manifested in the examination. However, there is no conscious effort by aspirants to micro analyze these aspects. Now, coming to the second aspect i.e. the mistakes that one commits in answering MCQs, it can be said that there are mainly four reasons behind incorrect responses in the OMR sheet. They are:

  1. Lack of information
  2. Lack of analytical ability
  3. Silly mistakes
  4. Excessive risk-taking

Let’s analyze them one by one:

  1. Lack of information: You simply don’t know the information. You are clueless and that’s why you don’t attempt the question. For example, you may have never come across a regime called the ‘Wassenaar Agreement’ during your preparation and you can’t do much about it. The lack of information is pardonable and rectifiable. You can read more and gather more information. That is within your reach.
  2. Lack of analytical ability: You know the concept but the question is a twisted one and you are not able to apply the concept. For example, in a question asking you to identify the climate type of a region based on certain given parameters like precipitation, temperature, and air density, you might find it difficult to mark the correct option even if you are aware of all the options given in the question! That is clearly a lack of application and you can overcome it by developing a habit of framing questions in your mind while you study any topic.
  3. Silly mistakes: This habit is unpardonable. You know the concept, you become happy, you misread the question, you mark the incorrect answer and you are out of the race! Such mistakes reveal your hurriedness while answering the question. A simple mistake of reading ‘chose the incorrect option’ as ‘chose the correct option’ can destroy your chances. It means that you need to have patience and focus while attempting the paper.
  4. Excessive risk-taking: You are confused between the options and just in order to increase your attempts, you make wild guesses and try your luck only to repent eventually. Risk-taking is an art and one must be very careful while doing the guesswork in confusing questions. If you are not lucky enough, it can spoil your chances.

You will realize that these problems will have different meanings for different people. For example, one might find a lack of information as the main culprit in answering wrong the questions on Culture while in Polity, lack of analytical ability is usually the culprit. The point here is that you must analyse your preparation on these yardsticks by applying them on different subjects/ topics. If one is having a headache, he/ she can’t have the same medicine for fever. Isn’t it.

This is where our revamped ’60 Day’ comes into the picture. It will give you an opportunity to micro analyze your preparation and perform better in the examination.

Finally, it is up to you to take advantage of this framework. We are sure of only one thing- if you follow this program, assess yourself on the basis of the given framework and keep improving your weaker areas, success will be yours.

We are providing you with the right platform, the right guidance, and the right competition. Do you have the right motivation to make full use of this initiative? We think you have. Come, be a part of this initiative and take the first step towards SUCCESS!


Importance of self – tracking:

We could have provided all of you with login id and passwords to monitor your daily performance in the 60-day program.

Instead, a simple and most beautiful way which Disqus provides is profile based commenting!

Yes, we have seen the most successful candidates who have taken the maximum benefit from this program monitoring themselves by commenting on their answers in the box given (Disqus comment). And reviewing their performance themselves once in 10 days on the progress meter. 

DOWNLOAD THE 60 DAYS PLAN 2021

SOLUTION- Download Here

ENTER YOUR PERFORMANCE AND GET YOUR RANK- Click Here

Important:

  • Ranks and Cut off will be calculated for the entries in the given form only. Cut Off will be released around 10PM and Rank List will be announced soon.
  • Top 10 performers will be selected by finding the average ranks of entire 60 Days Programme and they would get FREE GUIDANCE and MENTORSHIP from IASbaba’s Core Team.

RANK LIST: TOP 25 PERFORMERS

Congratulations to all

RANK NAME SCORE
1 Shubam Singhla 58
2 Taranpreet kaur 57.34
3 shilpa 56
4 Sarathkumar 55
4 Alka 55
5 Mansi 54
6 Naveen 52
7 Ravi Kumar singh 51.68
8 Shubham varma 50.68
9 gourav 50
9 Sankar S 50
10 Vinay 48
11 TINKU MITTAL 47.33
12 ayaan pathan 46.4
13 Shruthika 46
14 CSK 45
15 Apeksha 44.68
16 SHRUTHI 44
17 Sadhana 42.04
17 Rani singh 42.02
18 akash 42
19 Shruti warang 41.6
20 Mahima 41.36
21 SURYA 40
22 Swati Jindal 39.33
23 NARAGANI KALYAN 38.66
24 Amisha 36.7
24 Preeti Sinha 36.65
26 Sherlock 36.66
25 Rakshitha 36

All the Best!

IASbaba

 

 

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