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Questions

Q1. {IE – Industry} Consider the following statements:

  1. According to the ‘Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, the ‘medium enterprises’ are those with investments in plant and machinery between `15 crore and `25 crore.
  2. All bank loans to the Micro, Small and Medium Enterprises qualify under the priority sector.
Which of the above statement(s) is/are correct?
  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Q2. {Envi – Conservation – Reports} The Global Climate 2011-20 Report is published by:

  1. Greenpace International
  2. United Nations Framework Conventions on Climate Change (UNFCCC)
  3. United Nations Environment Programme (UNEP)
  4. World Meteorological Organization (WMO)
  1. It is a crime against the state.
  2. It is a civil wrong that can be compensated with damages.
  3. It is a religious offense.
  4. It is a violation of human rights.

Q4. {IE – Industry – Startup} Consider the following regarding Creator Economy in India:

  1. Accessibility
  2. Monetization
  3. Decentralization
  4. Government Funding
How many of the above are the characteristics of a ‘Creator Economy’?
  1. Only one
  2. Only two
  3. Only three
  4. All

Q5. {MoRD – Schemes} Consider the following statements about Amrit Sarovar Mission:

  1. The Amrit Sarovar mission aims to construct/rejuvenate 1 Amrit Sarovar in 75 identified districts across India to overcome the water crisis in rural areas.
  2. Eight Central Ministries/Departments including Ministry of Railway, Ministry of Road, Transport & Highways, actively contribute to the mission’s execution.
  3. Bhaskaracharya National Institute for Space Application and Geo-informatics (BISAG-N), which comes under Ministry of Earth Sciences, has been engaged as Technical partner for the Mission.
How many of the above statement(s) is/are correct ?
  1. Only one
  2. Only two
  3. All
  4. None

Questions with their Answers and Explanation.

Q1. {IE – Industry} Consider the following statements:

  1. According to the ‘Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, the ‘medium enterprises’ are those with investments in plant and machinery between `15 crore and `25 crore.
  2. All bank loans to the Micro, Small and Medium Enterprises qualify under the priority sector.
Which of the above statement(s) is/are correct?
  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Explanation

Statement 1 is incorrect
  • According to Micro, Small and Medium Enterprises Development (MSMED) Act, 2006:
  • Micro Enterprise: An enterprise where the investment in plant and machinery or equipment does not exceed Rs. 1 crore, and turnover does not exceed Rs. 5 crore.
  • Small Enterprise: An enterprise where the investment in plant and machinery or equipment does not exceed Rs. 10 crore, and turnover does not exceed Rs. 50 crore.
  • Medium Enterprise: An enterprise where the investment in plant and machinery or equipment does not exceed Rs. 50 crore, and turnover does not exceed Rs. 250 crore.
Statement 2 is correct
  • In terms of Master Direction on ‘Priority Sector Lending (PSL) – Targets and Classification’ dated September 4, 2020, All bank loans to MSMEs conforming to the conditions prescribed therein qualify for classification under priority sector lending.
Answer: (b) Only two | Difficulty Level: Medium

Q2. {Envi – Conservation – Reports} The Global Climate 2011-20 Report is published by:

  1. Greenpace International
  2. United Nations Framework Conventions on Climate Change (UNFCCC)
  3. United Nations Environment Programme (UNEP)
  4. World Meteorological Organization (WMO)

Explanation

  • The Global Climate 2011-2020: A Decade of Acceleration report documents how extreme events across the decade had devastating impacts, particularly on food security, displacement and migration, hindering national development and progress toward the Sustainable Development Goals (SDGs).
  • But it also showed how improvements in forecasts, early warnings and coordinated disaster management and response are making a difference. The number of casualties from extreme events has declined, associated with improved early warning systems, even though economic losses have increased.
  • The report provides a longer-term perspective and transcends year-to-year variability in our climate. It compliments WMO’s annual State of the Global Climate report.
  • The report is based on physical data analyses and impact assessments from dozens of experts at National Meteorological and Hydrological Services, Regional Climate Centers, National Statistics Offices and United Nations partners.
  • The report was released at the UN Climate Change Conference, COP28, and emphasizes the need for much more ambitious climate action to try to limit global temperature rise to no more than 1.5°C above the pre-industrial era.
Answer: (d) World Meteorological Department (WMO) | Difficulty Level: Medium
  1. It is a crime against the state.
  2. It is a civil wrong that can be compensated with damages.
  3. It is a religious offense.
  4. It is a violation of human rights.

Explanation

  • In legal terms, a “tort” refers to a civil wrong that causes harm or loss to someone, leading to legal liability for the person who committed the tort. The injured party can seek compensation for damages through a civil lawsuit.
  • If adultery is considered a tort in some parts of the world, it means that engaging in adultery could be seen as a civil wrong, and the spouse who has been harmed by the adultery may have the right to seek damages in a civil court.
  • Tort law may also be contrasted with contract law, which provides civil remedies after breach of a duty that arises from a contract. Obligations in both tort and criminal law are more fundamental and are imposed regardless of whether the parties have a contract.
Answer: (b) It is a Civil Wrong that can be compensated with damages | Difficulty Level: Easy (Factual)

Q4. {IE – Industry – Startup} Consider the following regarding Creator Economy in India:

  1. Accessibility
  2. Monetization
  3. Decentralization
  4. Government Funding
How many of the above are the characteristics of a ‘Creator Economy’?
  1. Only one
  2. Only two
  3. Only three
  4. All

Explanation

Statement 1 is correct
  • Accessibility means that anyone can become a creator, regardless of background or experience.
  • For example, For many Disabled people, traditional employment opportunities can be limited due to physical, communication, attitudinal and social barriers.
  • However, the creator economy removes some of these barriers and allows Disabled people to work flexible hours, from home and on their own terms. They can monetize their content and earn income through brand partnerships, sponsorships, merchandise sales and more.
Statement 2 is correct
  • A large part of what makes the creator economy successful is the numerous ways creators can monetize their content.
  • Advertising is one of the most common ways creators receive direct monetization for their content. From preroll ads to brand sponsorships, 35% of creators earn money through ad revenue on online platforms—if their content gets views of course.
  • Making Good Connections, Great Branding and investing in good equipment will also increase Monetization.
Statement 3 is correct
  • The advantages to a decentralized creator economy are numerous. Jobs can be created at the click of a button, categories of education like teaching can be decentralized and available to many more people, and there needs to be no payment for a 3rd party verification of anything.
  • More businesses, and people, will be shifting to this wonderful economy where everyone has a chance to create something of value, and the power to create is disbursed more evenly.
  • In a decentralized creator economy, anyone can join and market their personal services to the open market.
Statement 4 is incorrect
  • The creator economy in India is a major contributor to India’s GDP.
  • The creator economy includes millions of Indians making full-time livings from things like content creation. But the Indian government barely recognizes the industry or its many contributors exists.
Answer: (c) Only three | Difficulty Level: Easy

Q5. {MoRD – Schemes} Consider the following statements about Amrit Sarovar Mission:

  1. The Amrit Sarovar mission aims to construct/rejuvenate 1 Amrit Sarovar in 75 identified districts across India to overcome the water crisis in rural areas.
  2. Eight Central Ministries/Departments including Ministry of Railway, Ministry of Road, Transport & Highways, actively contribute to the mission’s execution.
  3. Bhaskaracharya National Institute for Space Application and Geo-informatics (BISAG-N), which comes under Ministry of Earth Sciences, has been engaged as Technical partner for the Mission.
How many of the above statement(s) is/are correct ?
  1. Only one
  2. Only two
  3. All
  4. None

Explanation

Statement 1 is incorrect
  • On April 24, 2022, Mission Amrit Sarovar was launched as part of India’s “Azadi Ka Amrit Mahotsav” celebrations for the 75th year of independence.
  • The mission aims to construct/rejuvenate at least 75 Amrit Sarovars in each district across India to overcome the water crisis in rural areas.
Statement 2 is correct
  • Eight Central Ministries/Departments, including Dept. of Rural Development, Department of land resources, Department of Drinking Water and Sanitation, Department of Water resources, Ministry of Panchayati Raj, Ministry of Forest, Environment and Climate changes, Ministry of Railway, Ministry of Road, Transport & Highways, actively contribute to the mission’s execution.
Statement 3 is incorrect
  • Bhaskaracharya National Institute for Space Application and Geo-informatics (BISAG-N) has been engaged as Technical partner for the Mission.
  • BISAG-N is an autonomous scientific society registered under the Societies Registration Act, of 1860. It comes under the Ministry of Electronics and Information Technology.
  • Geospatial data and technology play a pivotal role in identifying and executing the construction and rejuvenation of Amrit Sarovar.
Answer: (a) Only one | Difficulty Level: Medium
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