[DAY 57] 60 DAY RAPID REVISION (RaRe) SERIES for UPSC Prelims 2023 – GEOGRAPHY, CURRENT AFFAIRS & CSAT TEST SERIES!

Solution (c)

Explanation:

Protectionism and import substitution are two different economic strategies used by governments to protect domestic industries and reduce dependence on foreign goods. While they share some similarities, there are key differences between the two approaches:

Protectionism: The primary objective of protectionism is to shield domestic industries from foreign competition by imposing barriers to trade. The focus is on protecting domestic producers and preserving jobs within the country.

Import Substitution: Import substitution aims to promote the development of domestic industries by replacing imported goods with domestically produced goods. The goal is to reduce reliance on foreign imports and build self-sufficiency in key sectors of the economy.

Trade Barriers:

• Protectionism: Protectionist measures involve the use of various trade barriers, such as tariffs, quotas, subsidies, and administrative regulations. These barriers increase the cost of imported goods, making them less competitive in the domestic market.
• Import Substitution: Import substitution does not necessarily rely on trade barriers. Instead, it focuses on domestic production capabilities and the development of industries that can produce goods previously imported. The government may provide incentives and support to foster the growth of domestic industries. (Hence statement 1 is incorrect)

Scope:

• Protectionism: Protectionist measures can be applied to all sectors of the economy, and the focus is on shielding domestic industries from foreign competition across the board.
• Import Substitution: Import substitution typically targets specific industries or sectors that are deemed strategic or crucial for the country’s economic development. It aims to replace imported goods with domestically produced alternatives in these specific areas. (Hence statement 2 is correct)

Impact on Global Trade:

• Protectionism: Protectionist policies often result in reduced international trade and can lead to trade disputes between countries. It may also trigger retaliatory measures from trading partners, leading to trade tensions and potential disruptions in global trade flows.
• Import Substitution: Import substitution, when successful, reduces a country’s dependence on foreign goods but does not necessarily have a direct impact on global trade. It focuses on developing domestic industries and may result in a shift from imports to domestic production in specific sectors.

Economic Development Strategy:

• Protectionism: Protectionism is often seen as a short-term strategy to shield domestic industries and preserve jobs. It may be used to provide breathing space for industries to become more competitive, but it can also hinder innovation and productivity improvements in the long run.
• Import Substitution: Import substitution is often considered a long-term strategy for economic development. It aims to foster the growth of domestic industries and increase self-sufficiency, which can lead to industrial diversification, technology transfer, and the development of a more resilient economy. (Hence statement 3 is correct)

Solution (a)

Explanation:

• The policy of free trade facilitates the unrestricted buying and selling of products and services across national borders, with minimal government interventions such as taxes, subsidies, quotas, or prohibitions. (Hence statement 1 is correct)
• An agreement between multiple countries is established to reduce import and export tariffs not to abolish. (Hence statement 2 is incorrect)
• The concepts of trade protectionism and economic isolationism are fundamentally contradictory.

Solution (b)

Explanation:

Trade-Related Aspects of Intellectual Property Rights (TRIPS) can be paraphrased as follows:

• TRIPS is an international agreement that was negotiated at the end of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) between 1989 and 1990. It is administered by the World Trade Organization (WTO). (Hence statement 1 is correct)
• TRIPS establishes the minimum standards for various forms of intellectual property, including trademarks, copyrights, geographical indications, patents, industrial designs, layout designs for integrated circuits, and trade secrets. It specifies their availability, scope, and utilization.
• TRIPS applies to the fundamental international trade principles related to intellectual property for all member states of the WTO.
• The TRIPS Agreement sets out the legal provisions and limitations for balancing intellectual property rights with concerns for public health and economic development.
• WTO members are free to pursue their domestic policy objectives within the framework of TRIPS. (Hence statement 2 is incorrect)
• TRIPS situates the intellectual property system within the context of fostering innovation, technological transfer, and promoting the public interest.
• The implementation and oversight of the TRIPS Agreement are the responsibilities of the TRIPS Council. (Hence statement 3 is correct)
• TRIPS is sometimes referred to as a “Berne and Paris-plus” agreement, highlighting its expansion of the intellectual property protection provided by the Berne Convention (for copyrights) and the Paris Convention (for industrial property rights).

Solution (b)

Explanation:

• The Global Hunger Index (GHI) is an annual report that undergoes peer review and is jointly published by Concern Worldwide and Welthungerhilfe. It is specifically designed to provide a comprehensive assessment and ongoing monitoring of hunger on a global scale, as well as regionally and nationally. The primary objective of the GHI is to stimulate efforts and initiatives aimed at diminishing hunger worldwide. (Hence statement 1 is incorrect)
• The Global Hunger Index (GHI) functions as a comprehensive measurement and monitoring tool to assess hunger across global, regional, and national contexts. The GHI utilizes four key indicators – undernourishment, child stunting, child wasting, and child mortality – to determine its scores. These scores, graded on a 100-point scale, indicate the severity of hunger, with zero representing the best score (indicating no hunger) and 100 representing the worst. (Hence statement 1 is correct)
• India ranks 107 out of 121 countries on the Global Hunger Index 2022 in which it fares worse than all countries in South Asia barring war-torn Afghanistan. India’s score of 29.1 places it in the ‘serious’ category. India also ranks below Sri Lanka (64), Nepal (81), Bangladesh (84), and Pakistan (99). Afghanistan (109) is the only country in South Asia that performs worse than India on the index. (Hence statement 3 is incorrect)

Solution (c)

Explanation:

• The International Fund for Agricultural Development (IFAD) is a specialized United Nations agency that functions as an international financial institution. Established in 1977, its primary objective is to combat poverty in rural areas of developing countries. (Hence statement 1 is correct)
• Through the provision of low-interest grants and loans, IFAD supports various projects aimed at improving food security, nutrition, and income levels for rural populations. Furthermore, it assists individuals in expanding their businesses.
• The creation of IFAD stemmed from the World Food Conference held in 1974. The organization’s headquarters are located in Rome, and it operates under the leadership of a President.
• With 177 member countries, IFAD focuses on working with marginalized and vulnerable groups, including small-scale farmers, foresters, pastoralists, fishermen, and entrepreneurs.
• It provides them with disaster preparedness measures, access to weather information, technology transfer, and social learning opportunities.
• IFAD publishes the Rural Development Report on an annual basis (Hence statement 2 is correct)

Solution (b)

Explanation:

• The S. Chambers of Commerce has released the International IP Index. (Hence statement 1 is incorrect)
• Index reveals that India has secured the 42nd position among 55 prominent global economies. The index ranks the United States at the top spot for 2023, followed by the UK and France. (Hence statement 2 is correct)
• The report highlights India’s expanding size and economic influence in the international arena. It suggests that India has the potential to emerge as a frontrunner for developing economies aiming to revamp their economies through innovation driven by intellectual property (IP). India has implemented measures to enhance enforcement against copyright infringement and has established an exemplary framework to foster better comprehension and utilization of IP assets

Solution (a)

Explanation:

• The Group of Twenty (G20) is an intergovernmental forum comprising 19 countries – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and United States and the European Union.
• The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population. (Hence statement 1 is correct)
• The G20 was founded in 1999 after the Asian financial crisis as a forum for the Finance Ministers and Central Bank Governors to discuss global economic and financial issues. It was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for international economic cooperation”.
• The G20 Summit is held annually, under the leadership of a rotating Presidency. India’s G20 Presidency Theme
• The 18th G20 Summit 2023 will be held in New Delhi on 09 and 10 September, 2023 (Hence statement 2 is correct)
• G20 theme: India’s G20 Presidency Theme is “Vasudhaiva Kutumba-kam” or “One Earth One Family One Future”. (Hence statement 3 is incorrect)
• G20 Theme represents the India’s working on the vision of bringing the whole world together for a common objective, for a better future
• It will be India’s endeavour that there should not be any “first world or third world”, but “only one world”.
• Earlier, India working in the similar spirit launched- ‘One Sun, One World, One Grid’, has called for a renewable energy revolution in the world.
• Campaign of ‘One World, One Health’ to strengthen global health.

Solution (a)

Explanation:

• There is no definition of WTO regarding classification of member countries as developing and developed. Member countries declare themselves as developing and developed countries.
• Developing country status brings certain benefits like
  • A relaxed transition and commitment period for the agreements.
  • Freedom from any reciprocity action while making trade with developed countries.
  • Benefits for domestic industries by imposing tariff barriers on imports. (Hence statement 1 is correct)
• WTO recognizes as least-developed countries (LDCs) those countries which have been designated as such by the United Nations. (Hence statement 2 is correct)
• Currently, there are 47 LCDs on the UN list, out of which 36 had become WTO members.
• WTO does not assist in the establishment of a multilateral system of payments or to promote international monetary cooperation rather it cooperates with the various international organization in global economic policy-making. (Hence statement 3 is incorrect)

Solution (b)

Explanation:

The International Monetary Fund (IMF) produces a semiannual report called the Global Financial Stability Report, which evaluates the worldwide financial system and markets, with a focus on addressing emerging market financing within a global framework.

(Hence option (b) is correct answer)

Solution (a)

Explanation

• SDRs are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF). SDRs are an international reserve asset that was created by the IMF in 1969 to supplement the existing official reserves of member countries. (Hence statement 1 is correct)
• The value of the SDR is determined by a basket of five currencies – the US dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound sterling. The basket composition is reviewed every five years to ensure it reflects the relative importance of currencies in the world’s trading and financial systems. (Hence statement 2 is correct)
• SDR basket is reviewed every 5 years, not 10 years. The IMF reviews the basket of currencies that make up the SDR every five years to ensure that it reflects the relative importance of currencies in the world’s trading and financial systems. (Hence statement 3 is incorrect)

Solution (d)

Explanation:

• The IMF provides loans to member countries experiencing balance of payments difficulties, with the goal of helping them stabilize their economies and restore sustainable growth. These loans are typically disbursed in installments, and are often accompanied by conditions that require the borrowing country to undertake certain economic policy reforms. (Hence statement 1 is correct)
• It monitors global economic conditions and identifies risks in the global economy. One of the IMF’s key functions is to monitor global economic conditions, and to identify risks that could potentially lead to a global economic crisis. The IMF regularly publishes reports on global economic trends and risks, and provides policy advice to member countries to help them address economic challenges. (Hence statement 2 is correct)
• The IMF provides technical assistance and training to member countries in a variety of areas, including macroeconomic policy, financial sector regulation, and statistics and data management. This assistance is intended to help member countries strengthen their economic institutions and policies, and promote sustainable economic growth. The IMF’s lending programs can also help prevent financial crises by providing financing to countries experiencing balance of payments difficulties. (Hence statement 3 is correct)

Solution (b)

Explanation:

India is a member of the following international groupings:

• Regional Comprehensive Economic Partnership (RCEP). India was part of the negotiations for the RCEP, a free trade agreement among 15 countries in the Asia-Pacific region. However, India withdrew from the agreement in November 2019.
• Shanghai Cooperation Council (SCO). India is a member of the SCO, which is a regional organization comprising eight member states in Eurasia. The SCO aims to promote cooperation in areas such as security, trade, and cultural exchange.
• Asian Development Bank (ADB). India is a member of the ADB, which is a regional development bank that provides financing and technical assistance for development projects in the Asia-Pacific region.
• Association of South East Asian Nations (ASEAN). India is not a member of ASEAN, but it has a strategic partnership with the organization and participates in various ASEAN-led forums and initiatives.
• India is not a member of the Asia Pacific Economic Cooperation (APEC), which is a forum for promoting economic cooperation among 21 member economies in the Asia-Pacific region.
• (Hence option (b) is correct answer)

Solution (a)

Explanation:

The Trade Facilitation Agreement (TFA) of the World Trade Organisation aims to expedite the movement, release and clearance of goods, including goods in transit, by simplifying customs procedures and reducing red tape at borders. (Hence statement 1 is correct)

India has ratified the TFA of the World Trade Organisation in 2016. The TFA entered into force on February 22, 2017, after two-thirds of the WTO membership completed their domestic ratification processes. (Hence statement 2 is incorrect)

Solution (a)

Explanation:

• The goal of WTO is to ensure that trade flows as smoothly, predictably, and freely as possible among its member countries by providing a forum for trade negotiations, monitoring national trade policies, providing technical assistance, and cooperating with other international organizations. (Hence statement 1 is correct)
• The WTO is not a part of the United Nations, although it cooperates closely with the UN and its specialized agencies. (Hence statement 2 is incorrect)
• The headquarters of WTO is located in Geneva, Switzerland, not Washington. (Hence statement 3 is incorrect)
• WTO decisions are based on the member countries’ consensus. All WTO members have an equal say in decision-making, and decisions are made through negotiations and consultations among the members. (Hence statement 4 is correct)

Solution (b)

Explanation:

The correct pairs are:

• Food and Agriculture Organisation (FAO) – Rome, Italy
• International Maritime Organisation (IMO) – London, UK
• UNESCO – Paris, France.
• International Labor Organization (ILO) – Geneva, Switzerland

(Hence option (b) is correct answer)

Solution (a)

Explanation:

• Generalized System of Preferences GSP is a preferential treatment extended by a developed country to a developing country for duty-free entry of some products. The aim is to promote economic growth in the developing countries by giving them easier access to markets in the developed countries. (Hence statement 1 is correct)
• The Trump administration removed India from GSP eligibility effective June 5, 2019, for “failure to provide equitable and reasonable market access.” (Hence statement 2 is incorrect)

Solution (b)

Explanation:

• The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that aims to promote economic development in Asia by financing infrastructure projects. It was established in 2016 and is headquartered in Beijing, China.
• The AIIB has 103 member countries, including several major economies. Such as China, India, Russia, Germany, and the United Kingdom.
• Among the P5 countries, US is not a member of the AIIB. Rest all, China, UK, France and Russia are the members of the AIIB. (Hence statement 1 is incorrect)
• China is the largest shareholder in the AIIB, with India coming in second with a shareholding of around 7.6%. (Hence statement 2 is correct)
• The AIIB has a focus on sustainable infrastructure projects that promote economic growth and reduce carbon emissions. It has financed projects in a wide range of areas, including energy, transportation, telecommunications, and water supply and sanitation. The bank also provides technical assistance to help countries design and implement infrastructure projects.
• The AIIB has been viewed by some as a potential rival to established development banks like the World Bank and the Asian Development Bank (ADB), but it has also collaborated with these institutions on certain projects.

Solution (d)

Explanation:

The International Labor Organization (ILO) is a specialized agency of the United Nations that was established to promote social justice and promote decent working conditions worldwide. It was founded in 1919, and its headquarters is located in Geneva, Switzerland.

Some of the reports published by ILO are:

• The Global Wage Report: It provides an overview of the latest trends in wages, income inequalities, and labor productivity globally.
• World Employment and Social Outlook: This report provides up-to-date information on labor markets and social trends, highlighting the challenges and opportunities in the global labor market.
• The World Social Protection Report: It analyses the coverage and adequacy of social protection systems in different countries worldwide.
• The Future of Work Report: This report examines the impact of technological and demographic changes on the world of work and provides policy recommendations to ensure a fair and inclusive future of work.
• (Hence option (d) is correct answer)

Solution (c)

Explanation:

• Codex Alimentarius is a collection of internationally recognized food standards, guidelines, and codes of practice developed by the Codex Alimentarius Commission (CAC), a joint effort between the Food and Agriculture Organization (FAO) and the World Health Organization (WHO). (Hence statement 1 is incorrect)
• It was established by the Food and Agriculture Organization (FAO) and the World Health Organization (WHO) in 1963.
• The World Trade Organization (WTO) recognizes the Codex food safety standards in its Agreement on the Application of Sanitary and Phytosanitary Measures. (Hence statement 2 is correct)
• The purpose of Codex Alimentarius is to protect the health of consumers and ensure fair practices in the international food trade. The Commission establishes guidelines and standards for food safety, labeling, and other practices related to food production and distribution. These guidelines and standards are based on scientific evidence and are intended to be a reference point for governments, industry, and consumers. (Hence statement 3 is correct)
• The Codex Alimentarius Commission also provides a forum for member countries to discuss food safety issues and to collaborate on developing common food safety standards and guidelines. Currently, the Commission has 189 member countries, including the European Union.
• Some examples of Codex Alimentarius guidelines include maximum residue limits for pesticides in food, guidelines for the labeling of prepackaged foods, and codes of practice for hygiene in food processing.

Solution (c)

Explanation:

• Imposing anti-dumping measures on imported products may have various consequences. Anti-dumping measures are designed to protect domestic industries from unfairly low-priced imports and to prevent harm to the domestic industry caused by the imported product. One of the potential consequences of anti-dumping measures is a decrease in the availability of the imported product in the importing country. This is because the anti-dumping measures may make the imported product more expensive and less competitive compared to domestically produced products.
• Other potential consequences of anti-dumping measures include higher prices for consumers in the importing country, reduced imports from the exporting country, and retaliation from the exporting country in the form of trade restrictions or other measures.
• (Hence option (c) is correct answer).

Solution (a)

Explanation:

• The policy aims to increase India’s share in the global space economy to 10% in the future. India’s share is currently 2%. Hence statement 1 is correct.
• The policy seeks to institutionalize the private sector participation in the space sector, with ISRO focusing on research and development of advanced space technologies. The private sector can take part in end-to-end space activities that include building satellites, rockets, launch vehicles, data collection, and dissemination. Hence statement 2 is correct.
• INSPACe will be the interface between Indian Space Research Organisation and nongovernmental entities. NSIL will carry out strategic activities related to the space sector and will work in a demand-driven mode. Hence statement 3 is correct.

Source: CLICK HERE

Solution (d)

Explanation:

• It is known as the decentralized web, network of computers that are owned and controlled by the users themselves. Hence statement 1 is correct.
• It is built on top of existing Internet infrastructure and not in competition with previous versions of the web platform.
• It allows for the creation and exchange of digital assets, decentralized applications and smart contracts in the blockchain system. Hence statement 3 is correct.
• It is best known for its use in cryptocurrencies like Bitcoin and Ethereum.
• It is used to store and transfer digital currencies in a secure and transparent way.
• Peer-to-Peer – It allows for peer-to-peer transactions and interactions, which means that users are in control of their data and can choose whom they share it with. Hence statement 2 is correct.
• Data ownership and control: Users can trust the network itself to keep their data and transactions secure.

Source: CLICK HERE

Solution (c)

Explanation:

• Copernicus programme is the most ambitious Earth observation programme. It provides accurate, timely and easily accessible information to improve the management of the environment, understand and mitigate the effects of climate change and ensure civil security. Hence statement 1 is correct.
• This initiative is headed by the European Commission (EC) in partnership with the European Space Agency (ESA). Hence statement 2 is correct.

Source: CLICK HERE

Solution (c)

Explanation:

• The Supreme Court evolved the “less restrictive” Public Interest Immunity (PII) claims proceedings as an “alternative” to the sealed cover proceedings while dealing with state requests for confidentiality.
• The PII proceedings would be a “closed sitting,” but a reasoned order allowing or dismissing the PII claim of the state should be pronounced in open court.
• The court will appoint an amicus curiae, which means “friend of the court”, to act as a bridge between the parties involved in public interest immunity claims. Hence statement 1 is correct.
• The court-appointed amicus will be given access to the materials sought to be withheld by the state and allowed to interact with the applicant and their lawyer before the proceedings to ascertain their case. Hence statement 2 is correct.

Source: CLICK HERE

Solution (c)

Explanation:

Calcium carbide, also known as ‘masala’, is commonly used in mining and metal industries as well as in the production of acetylene gas. It is a highly reactive compound and releases acetylene gas which is used to artificially ripen fruits. However, its use can prove in serious health consequences. The use of calcium carbide, one of the harmful artificial fruit ripening agents, has been prohibited as per the provision in subregulation of Food Safety and Standards (Prohibition and Restriction on Sales) Regulation, 2011.

Source: CLICK HERE

Solution (b)

Explanation:

Suppose C’s capital = x then

B’s capital = 4x (Since B’s Capital is four times C’s capital)

A’s capital = 6x ( Since twice A’s capital is equal to thrice B’s capital)

A : B : C =6x : 4x : x

= 6 : 4 : 1

B’s share = 16500 × (4/11) = 1500 × 4 = 6000.

Solution (b)

Explanation:

Let the total profit be Rs.100

After paying to charity, A’s share

= Rs. (95* (3/5)) = Rs. 57

If A’s share is Rs.57,

Total profit = Rs.100

If A’s share Rs.855,

Total profit

= (100/57)*855

= 1500

Solution (c)

Explanation:

Let C = x

Then B = x/2

and A = x/4

A : B : C = 1 : 2 : 4

C’s share = Rs. ((4/7)*700)

= 400

Solution (b)

Explanation:

Shankar : Aniket

= (120000×12) : (190000×9)

= 1440000 : 1710000

= 16 : 19

∴Aniket’s share

= Rs. ((1750000)*19/35)

= Rs. 950000

Solution (c)

Explanation:

The paragraph elaborates on the questions (moral legitimacy, legal enforceability, proof of benefits) that the proponents of bad Samaritan laws must answer before the laws can be enacted. Option c, comes closest to summing this up.

Option a is ruled out right away, as there is no evidence in the paragraph to suggest that “everyone agrees” that people ought to aid others.

Option b is ruled out, as the paragraph simply asks whether the lead of the European countries which have enacted the law should be followed; this is not the main focus of the paragraph.

Option d is a tempting choice, but incorrect, as the paragraph does not proclaim that bad Samaritan laws must be enacted; it only elaborates on the questions that must be answered before the laws can be enacted.

Hence, option c is correct.