1.
With reference to the Prime
Minister's Employment Generation
Programme (PMEGP), consider
the following statements:
(1) PMEGP is a credit-linked
subsidy programme aimed at
generating self-employment
opportunities through
establishment of micro-
enterprises in the non-farm
sector by helping traditional
artisans and unemployed
youth.
(2) The Ministry of Finance is the
nodal agency for the
implementation of PMEGP.
(3) Any individual above 18
years of age and 8th
standard pass educational
qualification is eligible for
PMEGP.
Which of the statements given
above are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answers: (b)
Explanation:
Statement 1 is correct.
PMEGP is a credit-linked subsidy
programme aimed at generating self-
employment opportunities through
establishment of micro-enterprises in the
non-farm sector by helping traditional
artisans and unemployed youth.
Statement 2 is incorrect.
The scheme is implemented by Khadi
and Village Industries Commission
(KVIC) functioning as the nodal agency
at the national level. At the state level,
the scheme is implemented through
State KVIC Directorates, State Khadi and
Village Industries Boards (KVIBs),
District Industries Centres (DICs) and
banks. In such cases KVIC routes
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
government subsidy through designated
banks for eventual disbursal to the
beneficiaries / entrepreneurs directly into
their bank accounts,
Statement 3 is correct.
Any individual above 18 years of age is
eligible. For setting up of projects costing
above Rs. 10 lakhs in the manufacturing
sector and above Rs. 5 lakhs in the
business /service sector, the
beneficiaries should possess at least VIII
standard pass educational qualification.
Benefit can be availed under PMEGP for
setting up of new units only.
Source:
http://pib.nic.in/newsite/mbErel.aspx?reli
d=169467
https://msme.gov.in/schemes/pm-
employment-generation-program-and-
other-credit-support-schemes
2. Which of the following is the
objective of ‘SAMARTH’ scheme?
(a) Strengthening of the Self
Help Groups
(b) Capacity building in Textile
Sector
(c) Physical training of young
women
(d) Self-employment for rural
youth
Answers: (b)
Explanation:
SAMARTH - Scheme for Capacity
building in Textile Sector, got launched
by the Ministry of Textiles for the training
and employability of the youth in the
booming Textile Sector of India. It is part
of the Skill India Mission. It aims to
provide skill development training to
around 10 lakh youth (9 lakh in the
organised and 1 lakh in the traditional
Textile Sector) over a period of 3 years
(2017-2020) with an outlay of 1300 crore
rupees, so as to achieve the
1
government's vision of increasing India’s
textile export to 300 billion USD by 2025.
Source:
http://pib.nic.in/newsite/PrintRelease.asp
x?relid=179269
3. With reference to Revitalising
Infrastructure and Systems in
Education (RISE) scheme,
consider the following statements:
(1) The scheme will focus only
on infrastructure
development in premier
higher educational
institutions.
(2) The scheme will be financed
by the Higher Education
Financing Agency (HEFA)
which is a Non-Profit, Non-
Banking Financing Company
(NBFC).
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
Answers: (c)
Explanation:
Statement 1 is correct.
In the Budget 2018-19 announcement
has been made to launch a major
initiative named ‘‘Revitalising
Infrastructure and Systems in Education
(RISE)’’ with a total investment of Rs.
1,00,000 crore in next four years by
structuring Higher Education Financing
Agency (HEFA). The objective of the
RISE is to step up investments in
research and related infrastructure in
premier educational institutions, including
health institutions by 2022.
Statement 2 is correct.
HEFA has been set up on 31st May 2017
by the Central Government as a Non-
Profit, Non-Banking Financing Company
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
(NBFC) for mobilising extra-budgetary
resources for building crucial
infrastructure in the higher educational
institutions under Central Government. In
the existing arrangement, the entire
principal portion is repaid by the
institution over ten years, and the interest
portion is serviced by the Government by
providing additional grants to the
institution.
Source:
http://pib.nic.in/newsite/PrintRelease.asp
x?relid=180371
http://www.pib.nic.in/Pressreleaseshare.a
spx?PRID=1526148
4. National Pension Scheme (NPS) is
an attempt by the government to
create a pensioned society in India.
With reference to National Pension
Scheme (NPS), consider the
following statements:
(1) It is available to government
employees only.
(2) NPS is regulated by the
Pension Fund Regulatory
and Development Authority
(PFRDA).
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
Answers: (b)
Explanation:
Statement 1 is incorrect.
Any citizen of India, whether government
employee or non-government employee;
whether resident or non-resident can join
NPS.
Statement 2 is correct.
National Pension System (NPS) is a
voluntary defined contribution pension
system administered and regulated by
2
the Pension Fund Regulatory and
Development Authority.
Value addition:
Conditions to join NPS
 The subscriber should be between 18
and 65 years old as of the date of
submission of his/her application to
the Point of Presence (POP) / Point
of Presence – Service Provider –
Authorized branches of POP for NPS
(POP-SP).
 The subscribers should comply with
the Know Your Customer (KYC)
norms as detailed in the subscriber
registration form.
 Should not be Un-discharged
insolvent and individual of unsound
mind.
Source:
http://pib.nic.in/newsite/PrintRelease.a
spx?relid=177957
5. Which of the following are possible
implications of a declining Tax to
GDP ratio?
(1) Lower rate of growth
(2) Lower consumer spending
(3) Ascending unemployment
(4) Fewer tax collections
Select the correct answer using the
code given below:
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1, 3 and 4 only
(d) 1, 2, 3 and 4
Answer: (d)
Explanation:
The tax-to-GDP ratio is the ratio of a
nation's tax revenue relative to its gross
domestic product (GDP). Some countries
aim to increase the Tax-to-GDP ratio to
address deficiencies in their budgets.
Policymakers and analysts use the Tax-
to-GDP ratio to compare tax receipts
from year to year. In most cases, as the
taxes are related to economic activity,
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
the ratio should stay relatively consistent.
Consequently, as the gross domestic
product (GDP) grows, tax revenue
should increase as well. However, in
cases of significant shifts in tax law or
during severe economic downturns, the
ratio can shift, sometimes dramatically.
Economic downturns will result in lower
Tax-to-GDP ratio. During these times,
unemployment usually rises, and
consumer spending decreases. As a
result, there are fewer property and
consumption taxes collected. During
downturns, reduced consumption
significantly and quickly affects tax
receipts, pushing the Tax-to-GDP ratio
downward.
Source:
1. VAJIRAM AND RAVI Current
Affairs for October 2018 Page 57
2. https://www.investopedia.com/ter
ms/t/tax-to-gdp-ratio.asp
6. Consider the following statements
regarding 'Global Skills Park':
(1) It will be set up at Indore in
India, aided by the Asian
Development Bank (ADB).
(2) It will be the country's first
multi-skills park.
(3) It will have training facilities
focusing on skills for
manufacturing, service and
advanced agricultural jobs.
Which of the statements given
above are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (c)
Explanation:
Statement 1 is incorrect and
statement 2 is correct:
3
India and Asian Development Bank
(ADB) have signed a $150 million loan
agreement to
establish the country's first multi-skills
park in Bhopal to create a more skilled
workforce.
Statement 3 is correct.
It will have training facilities focusing on
skills for manufacturing, service and
advanced agricultural jobs, benefitting
about 20,000 trainees and trainers.
Value addition:
It will engage international Technical and
Vocational Education and Training
(TVET) partners to support advanced
training who will bring global best
practices in TVET management, training
infrastructure, industry cooperation and
quality assurance.
Source:
VAJIRAM AND RAVI Current Affairs
for October 2018 Page 61
7. Which of the following statements
regarding Corporate Social
Responsibility (CSR) is correct?
(a) The Indian Companies Act,
2013 mandates that Indian
corporates, public and
private, must allocate at least
5 per cent of their net profits
for CSR.
(b) The CSR funds are equally
distributed across all sectors.
(c) 40 per cent of the money
goes to just a few relatively
well-developed states such
as Maharashtra, Gujarat,
Karnataka etc.
(d) A common CSR trust which is
an autonomous body
manages and disburse the
funds collected under CSR.
Answer: (c)
Explanation:
Option (a) is incorrect.
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Indian Companies Act (2013) under
Section 135 mandates that Indian
corporates, public and private, must
allocate at least 2 per cent of their net
profits for CSR (Corporate Social
Responsibility).
Option (b) is incorrect.
The Ministry of Corporate Affairs (MCA)
data shows that the bulk of the CSR
money (almost 75 per cent) is allocated
to just three sectors i.e. education, health
(including sanitation and water) and rural
poverty.
Option (c) is correct.
The MCA data also reveals a skew in the
distribution of the CSR funds. Almost 40
per cent of the money goes to just a few
relatively well-developed states such as
Maharashtra, Gujarat, Karnataka, Tamil
Nadu, Andhra Pradesh and Telangana.
Thus, this model in short aggravates
rather than alleviates existing regional
and social disparities.
Option (d) is incorrect.
No such body exists right now. Many
challenges have raised the need for a
different model for CSR expenditure such
as corporates pool their CSR funds into a
common CSR trust and allow an
autonomous body to manage and
disburse the funds. This body should be
a confederation of corporates, NGOs,
domain experts and government.
Source: VAJIRAM AND RAVI Current
Affairs for September 2018 Page 73
8. With respect to the National Digital
Communications Policy 2018
(NDCP), consider the following
statements:
(1) It envisages four million
additional jobs and boost
sectoral contribution to 8% of
GDP
(2) It will ensure universal
broadband connectivity and
4
 ensure connectivity to all
uncovered areas.
(3) It also calls for establishment
of a National Digital Grid by
creating a National Fibre
Authority to facilitate
development of open access
NextGen networks.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 2 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (d)
Explanation:
The Union Cabinet approved the new
Telecom Policy i.e. The National Digital
Communications Policy 2018.
Statement 1 is correct:
It aims to create four million additional
jobs, draw $100 billion of investments
into the telecom industry by 2022, boost
sectoral contribution to 8% of GDP from
6% in 2017, besides backing the
principles of net neutrality.
Statement 2 is correct:
Universal broadband: Under NDCP, the
government plans to ensure universal
broadband
connectivity at 50 Mbps to every citizen,
provide 1 Gbps connectivity to all gram
panchayats by 2020 and 10 Gbps by
2022 and ensure connectivity to all
uncovered areas
Statement 3 is correct:
It calls for establishment of a National
Digital Grid by creating a National Fibre
Authority to facilitate development of
open access next generation networks
and creating a collaborative mechanism
between the Centre, states and local
bodies for common Rights of Way
(RoW), standardization of costs and
timelines
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Source: VAJIRAM AND RAVI Current
Affairs for October 2018 Page 65
9. NPA is a loan or an advance where
principal/ interest payment remains
overdue for a period of more
than __ days in respect of a term
loan.
(a) 30
(b) 60
(c) 90
(d) 12
Answer: (c)
Explanation:
NPA:
Definition: A non-performing asset (NPA)
is a loan or advance for which the
principal or interest payment remains
overdue for a period of 90 days.
Description: Banks are required to
classify NPAs further into Substandard,
Doubtful and Loss assets.
1. Substandard assets: Assets which
have remained NPA for a period less
than or equal to 12 months.
2. Doubtful assets: An asset would be
classified as doubtful if it has remained in
the substandard category for a period of
12 months.
3. Loss assets: As per RBI, “Loss asset
is considered uncollectible and of such
little value that its continuance as a
bankable asset is not warranted,
although there may be some salvage or
recovery value.”
Source:
1. VAJIRAM AND RAVI Current
Affairs For September 2018 Page
70
2. https://economictimes.indiatimes.c
om/definition/non-performing-
assets
10. Consider the following statements
about SAMPADA:
5
 (1) It is an umbrella scheme
encompassing all the ongoing
schemes of the Ministry of Food
Processing Industries like Mega
Food Parks, Integrated Cold
Chain etc. and not any new
scheme.
(2) This scheme is public sector
driven and provides more
freedom to the entrepreneurs to
choose the project location.
(3) The scheme aims to enhance
rural employment.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 3 only
(c) 1 and 2 only
(d) 1, 2 and 3
Answer: (b)
Explanation:
Statement 1 is incorrect.
It also contains new schemes related to
backward and forward linkages, agro-
processing clusters and increasing food
processing and preservation capacities.
Statement 2 is incorrect.
It is a private sector driven project
whereby public sector only plays the role
of an anchor.
Statement 3 is correct.
The scheme aims to enhance rural
employment.
Additional Info:
The PM Kisan SAMPADA Yojana is a
comprehensive package which will result
in creation of modern infrastructure with
efficient supply chain management from
farm gate to retail outlet. It will not only
provide a big boost to the growth of food
processing sector in the country but also
help in providing better returns to farmers
and is a big step towards doubling of
farmers income, creating huge
employment opportunities especially in
the rural areas, reducing wastage of
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
agricultural produce, increasing the
processing level and enhancing the
export of the processed foods.
The following schemes will be
implemented under PM Kisan SAMPADA
Yojana:
 Mega Food Parks
 Integrated Cold Chain and Value
Addition Infrastructure
 Creation/ Expansion of Food
Processing/ Preservation Capacities
(Unit Scheme)
 Infrastructure for Agro-processing
Clusters
 Creation of Backward and Forward
Linkages
 Food Safety and Quality Assurance
Infrastructure
 Human Resources and Institutions
Source:
http://mofpi.nic.in/Schemes/pradhan-
mantri-kisan-sampada-yojana
11. India is known to be one of the
largest consumers of gold in the
world. Off late, we have seen a
slight dip in the demand of gold.
Which of the following reasons can
be attributable to such a trend?
(1) Prevention of Money
Laundering Act,
Demonetization, Mandatory
hallmarking to ensure purity
standards
(2) India has also made it
mandatory for customers to
disclose their tax code, or
Permanent Account Number
(PAN), for high-value gold
purchases.
(3) High depreciation of the
rupee on an average in
2018-2019.
(4) Buyers have also sought
alternative investments like
the equity market off late.
6
 Select the correct answer using the commerce platform should be provided
code given below: services in a “fair and non-discriminatory
(a) 1 only manner”. The marketplaces will not be
(b) 1 and 3 only allowed to offer deep discounts through
(c) 1, 2 and 3 only their in-house companies listed as
(d) 1, 2, 3 and 4 sellers.
Statement 3 is correct.
Answer: (d) E-commerce companies follow both
Explanation: marketplace model and inventory model.
Marketplace model- E-commerce
12. Consider the following statements Company provides an IT platform on a
with respect to the e-commerce digital or electronic network to act as
sector: facilitator between buyers and sellers
(1) In India, e-commerce without warehousing the products.
companies cannot sell Inventory model- Products are owned
products through companies, by the online shopping company. The
and of companies, in which whole process end-to-end, starting with
they hold equity stake. product purchase, warehousing and
(2) The e-marketplaces in India ending with product dispatch, is taken
can offer deep discounts care of by the company.
through their in-house Source:
companies listed as sellers. https://www.theweek.in/news/biz-
(3) The e-commerce companies tech/2018/12/27/ecommerce-rules-
follow both marketplace etailers-vendors.html
model and inventory model. https://www.investindia.gov.in/faqs/w
Which of the statements given hat-marketplace-and-inventory-based-
above is /are correct? model
(a) 1 and 2 only
(b) 1 and 3 only 13. ‘States' Start-up Ranking 2018’ is
(c) 3 only released by which of the following?
(d) 1, 2 and 3 only (a) Small Industries
Development Bank of India
Answer: (b) (SIDBI).
Explanation: (b) Department of Industrial
Statement 1 is correct. Policy and Promotion (DIPP).
Recently, government introduced (c) Ministry of Corporate Affairs.
changes in e-commerce norms: From (d) Ministry of Micro, Small and
February 1, 2019, e-commerce Medium Enterprises.
companies running marketplace
platforms - such as Amazon and Flipkart Answer: (b)
- cannot sell products through Explanation:
companies, and of companies, in which Option (b) is correct.
they hold equity stake. The Department of Industrial Policy and
Statement 2 is incorrect. Promotion (DIPP) announced results of
No seller can be forced to sell its the first ever States’ Start-up Ranking
products exclusively on any marketplace 2018. Gujarat ranked the best performer
platform, and that all vendors on the e- and Karnataka, Kerala, Odisha, and

Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)

Economy 2 and Current Affairs Nov 2018 7
Rajasthan are the top performers. States
have been identified as leaders across
various categories such as Start-up
policy leaders, incubation hubs, seeding
innovation, scaling innovation, regulatory
change champions, procurement
leaders, communication champions,
North-Eastern leader, and hill state
leader.
Source:
http://pib.nic.in/newsite/PrintRelease.a
spx?relid=186652
14. With reference to the 'Coal
Swapping Scheme', consider the
following statements:
(1) It is the coal supply
rationalization arrangement
available only to the state-run
power plants.
(2) Coal India would be the
nodal agency for the
swapping arrangement.
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
Answer: (b)
Explanation:
Coal Swapping scheme is a coal supply
rationalization arrangement between two
willing consumers for swapping “full or
part of their entitled quantity” for a
“minimum tenure of
swapping/rationalisation of six months”.
Statement 1 is incorrect.
Recently, after allowing coal swapping
among state-run power plants, the inter-
ministerial task force (IMTF) has decided
to extend the supply rationalisation
scheme to private power producers
and non-regulated cement and steel
sectors who are importing coal or have
domestic supply linkages.
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Maximum tenure in case of swapping
between two linkage holders shall be
lesser of the remaining tenure of the
contracts of the willing participants.
This will be facilitated via an electronic
platform where participants can register,
and on a pre-decided time applicant can
swap coal supplies with the registered
participants.
Statement 2 is correct.
Coal India would be the nodal agency for
the swapping arrangement.
Source:
https://indianexpress.com/article/busi
ness/economy/coal-swapping-
scheme-extended-pvt-power-
producers-cement-steel-sectors-
5505573/
15. The term ‘Universal Basic Income’
(UBI) is often seen in the news. In
this context which of the following
are potential benefits of Universal
Basic Income?
(1) Better targeting of poor
(2) Promotion of liberty and
freedom of choice.
(3) Administrative efficiency
Select the correct answer using the
code given below:
(a) 1 and 3 only
(b) 1 and 2 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answers: (d)
Explanation:
Universal Basic Income is a radical and
compelling paradigm shift in thinking
about both social justice and a productive
economy.
Statement 1 is correct. As there will be
zero exclusion, the targeting of poor will
improve.
Statement 2 is correct. The
circumstances that keep individuals
trapped in poverty are varied; the risks
8
they face and the shocks they face also
vary. The State is not in the best position
to determine which risks should be
mitigated and how priorities are to be set.
UBI liberates citizens from paternalistic
and client relationships with the State. By
taking the individual and not the
household as the unit of beneficiary, UBI
can also enhance agency, especially of
women within the households.
Statement 3 is correct. UBI can
overcome weakness of existing welfare
schemes which are riddled with
misallocation, leakages and exclusion of
the poor. When the trinity of Jan-Dhan,
Aadhaar and Mobile (JAM) is fully
adopted the time would be ripe for a
mode of delivery that is administratively
more efficient.
Source: (1) Economic Survey 2016-17,
chapter 09
https://www.indiabudget.gov.in/es201
6-17/echap09.pdf
16. Consider the following statements
with respect to shell companies:
(1) They are companies without
active business operations or
significant assets.
(2) Not all shell companies are
indulged in illegal activities.
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
Answer: (c)
Explanation:
In India shell companies are not defined
under Companies Act 2013 or any other
legislation. However, some laws can help
curbing illegal activities such as money
laundering and can be used to target
shell companies – Benami Transaction
(Prohibition) Amendment Act 2016, etc.
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Although, US has defined the shell
companies under their Securities Act, as
a Shell Company is a company, other
than an asset-backed issuer, with no or
nominal operations; and either:
 no or nominal assets
 assets consisting of cash and
cash equivalents; or
 assets consisting of any amount
of cash and cash equivalents and
nominal other assets.
Statement 1 is correct.
Theoretically, shell companies are
companies without active business
operations or significant assets.
Statement 2 is correct.
Not all shell companies are vehicles of
illegal activities. There are many shell
companies that work within legal limits
and do not have financial irregularities.
For example, a company may separate
its HR function into another company
altogether or some companies could
have been started to promote start-ups
by raising funds.
Source:
https://www.livemint.com/Money/gFqq
UTa6pYGWVkjyHh58QO/What-are-
shell-companies.html and
https://www.moneycontrol.com/news/
business/what-are-shell-companies-
all-you-need-to-know-2361177.html
17. The 12th Five Year Plan had set
4% agriculture growth rate as a
target. In this context consider the
following statements:
(1) The growth rates of
agriculture and allied sectors
stagnated gradually during
this period (2012-2017).
(2) The share of livestock in
agriculture GVA (Gross
Value Addition) gradually
declined whereas the share
of crops increased.
9
 Which of the statements given 18. Consider the following statements
above is/are correct? regarding Minimum Support Price
(a) 1 only (MSP):
(b) 2 only (1) MSPs serve as a floor price
(c) Both 1 and 2 that is fixed by the
(d) Neither 1 nor 2 government as a long-term
guarantee for investment
Answer: (d) decisions of producers.
Explanation: (2) There is a significant regional
Statement 1 is incorrect: The growth discrimination in the
rates of agriculture & allied sectors procurement of food grains at
fluctuated at 1.5% in 2012-13, 5.6% in MSP in India.
2013-14, (-)0.2% in 2014-15, 0.7% in (3) MSPs are responsible for
2015-16 and 4.9% in 2016-17. The distorted cropping pattern in
uncertainties in growth in agriculture can India.
be explained by the fact that more than Which of the statements given
50 percent of agriculture in India is above are correct?
rainfall dependent which aggravates the (a) 1 and 2 only
production risks. (b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3

Statement 2 is incorrect: The Answer: (d)

agriculture sector witnessed a gradual
structural change in the 12th FYP period.
The share of livestock in GVA in
agriculture increased gradually, the share
of the crop sector in GVA declined from
65 per cent in 2011-12 to 60 per cent in
2015-16.
Source: Economic Survey 2017-18
Volume 2 – Chapter 7
Explanation:
Minimum Support Price (MSP) is a form
of market intervention by the
Government of India to insure agricultural
producers against any sharp fall in farm
produce prices.
Statement 1 is correct.
The minimum support prices are
announced by the Government of India
at the beginning of the sowing season for
certain crops on the basis of the
recommendations of the Commission for
Agricultural Costs and Prices (CACP).
Thus, MSPs served as a floor price that
was fixed by the government as a long-
term guarantee for investment decisions
of producers.
Statement 2 is correct.
The government procurement at MSP is
highly skewed in favour of some northern
States whereas highly discriminated
against eastern States where it is
minimal or non-existent.
Statement 3 is correct.

Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)

Economy 2 and Current Affairs Nov 2018 10
MSP has put excessive focus on some
crops such as wheat, paddy and
sugarcane at the expense of pulses,
oilseeds, etc. Therefore, cropping
patterns in several parts of the country
are distorted.
Additional Info:
CACP considers several factors while
recommending the MSP for a commodity
such as cost of production, changes in
input prices, international price situation,
inter-crop price parity, etc. Government
announces minimum support prices
(MSPs) for 24 mandated crops and Fair
and Remunerative Price (FRP) for
sugarcane.
Source:
http://vikaspedia.in/agriculture/market
-information/minimum-support-price
19. Which of the following statements
is/are correct regarding different
models of investments in
infrastructure?
(1) Under EPC (engineering,
procurement, construction)
model, private players have
an active role in operation
and maintenance of the
project.
(2) Under BOT (Build, Operate,
Transfer) model, private
players must arrange all the
finances for the project.
(3) Under HAM (Hybrid-Annuity
Model) model, government
invests part funding of the
project.
Select the correct answer using the
code given below:
(a) 1 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (c)
Explanation:
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Statement 1 is incorrect.
EPC (Engineering, procurement and
construction) model: Under this,
government pays private players for the
project. The private player has no role in
the project’s ownership, toll collection or
maintenance.
Statement 2 is correct.
BOT (Build, Operate, Transfer) model:
Under this, the private player arranged all
the finances for the project, while
collecting toll revenue or annuity fee from
the Government, as agreed. Private
developers have an active role - they
build, operate and maintain the project
for a specified number of years before
transferring the asset back to the
government. In BOT-annuity, the toll
revenue risk is taken by the government,
while the private player is paid a pre-
fixed annuity for construction and
maintenance of project.
Statement 3 is correct.
HAM (Hybrid-Annuity Model): It is a
mix of the EPC (40%) and BOT (60%)
models. In the first tranche,
government/public authority releases 40
per cent of the total project cost in five
tranches linked to milestones. The
balance 60 per cent is arranged by the
developer. It is a good trade-off,
spreading the risk between developers
and the Government. Here, the
government pitches in to finance 40 per
cent of the project cost - a sort of
viability-gap funding. This helps cut the
overall debt and improves project
returns.
Value Addition: Recently, Government
of India has approved Toll Operate and
Transfer (TOT) model under which the
public funded projects operational for two
years shall be put to bid wherein the right
of collection and appropriation of fee
shall be assigned for a pre-determined
concession period (30 years) to
Concessionaires (Developers/Investors)
11
against upfront payment of a lump sum
amount to NHAI.
Source: Vajiram and Ravi Indian
Economy Part B- Chapter 14, page no.
214
20. Consider the following statements
regarding Global Foreign
Exchange Committee:
(1) It is a forum of Central
Bankers and experts working
towards promotion of a robust
and transparent forex market.
(2) The Committee is established
under the aegis of the World
Bank.
(3) India is one of the members
of the Committee.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 1 and 2 only
(c) 1, 2 and 3
(d) None of the above
Answer: (a)
Explanation:
Statement 1 is correct.
Global Foreign Exchange Committee is a
forum of Central Bankers and experts
working towards promotion of a robust
and transparent forex market.
Statement 2 is incorrect.
It is under the aegis of the Bank of
International Settlements (BIS). It
comprises of public and private sector
representatives from Forex committees
of 16 international Forex trading centres.
Statement 3 is incorrect.
India is soon going to be a part of it.
Currently India is not its member.
Source: https://www.globalfxc.org/
21. Under which of the following
conditions, policy makers might
resort to demonetization?
(1) Economy is reeling under
hyperinflation
or deflation
(2) As an anti-terrorism measure
(3) To tackle economic instability
(4) Transition to a new legal
tender
Which of the statements given
above is/are correct?
(a) 1 only
(b) 4 only
(c) 2, 3 and 4 only
(d) 1, 2, 3 and 4
Answer: (c)
Explanation:
Demonetisation can be undertaken under
hyperinflationary conditions but not under
deflation.
22. Consider the following statements
regarding “The Financial Action
Task Force (FATF)”:
(1) The mandate of the FATF is
to counter money laundering,
terrorist financing and related
threats to the integrity of
international financial system.
(2) The FATF currently
comprises 36 member
jurisdictions.
(3) Currently India is an observer
in the FATF, and will get its
membership in June, 2019.
(4) FATF releases Black, Grey
and White lists to maintain a
record of countries that have
a poor record in action
against money laundering,
terrorist financing and other
such crimes.
Which of the statements given
above are correct?
(a) 1 and 2 only
(b) 1, 2 and 3 only
(c) 1, 2 and 4 only
(d) 1, 2, 3 and 4

Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)

Economy 2 and Current Affairs Nov 2018 12
Answer: (a)
Explanation:
Statement 1 is correct.
The objectives of the FATF are to set
standards and promote effective
implementation of legal, regulatory and
operational measures for combating
money laundering, terrorist financing and
other related threats to the integrity of the
international financial system.
Statement 2 is correct.
As of now, the FATF currently comprises
36 member jurisdictions and 2 regional
organisations, the EU and the Gulf Co-
operation Council, collectively
representing most major financial centres
in all parts of the globe.
Statement 3 is incorrect.
India became a member of the Financial
Action Task Force (FATF) in 2010. The
membership of FATF came nearly four
years after the country became an
observer in 2006.
Statement 4 is incorrect.
FATF maintains two different lists of
countries: Grey list & Black List
23. In the Union Budget 2018-19, a
new Scheme “Operation Greens”
was announced on the line of
“Operation Flood”. In this context,
consider the following statements:
(1) The Ministry of Agriculture
and Farmers' Welfare has
launched the scheme.
(2) The aim of the scheme is to
promote horticulture and
animal husbandry as an
alternative source of income
for the farmers.
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
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Answer: (d)
Explanation:
Statement 1 is incorrect.
The Ministry of Food Processing
Industries has launched the scheme.
NAFED will be the Nodal Agency to
implement price stabilisation measures.
Statement 2 is incorrect.
In the budget speech of Union Budget
2018-19, a new Scheme “Operation
Greens” was announced with an outlay
of Rs. 500 crore to promote Farmer
Producers Organizations (FPOs), agri-
logistics, processing facilities and
professional management.
Objectives:
 Enhancing value realisation of
Tomato, Onion and Potato (TOP)
farmers by targeted interventions to
strengthen TOP production clusters
and their FPOs, and
linking/connecting them with the
market.
 Price stabilisation for producers and
consumers by proper production
planning in the TOP clusters and
introduction of dual use varieties.
 Reduction in post-harvest losses by
creation of farm gate infrastructure,
development of suitable agro-
logistics, creation of appropriate
storage capacity linking consumption
centres.
 Increase in food processing
capacities and value addition in TOP
value chain with firm linkages with
production clusters.
 Setting up of a market intelligence
network to collect and collate real
time data on demand and supply and
price of TOP crops.
Source:
http://mofpi.nic.in/Schemes/operation-
greens
24. The NSSO measures the
unemployment rate in India by
13
 different methods. Consider the
following statements in this context:
(1) The NSSO measures
unemployment rate in the
country every 5 years.
(2) Under the Usual Status
method, the reference period
is one year while under
Current Daily Status method
the reference period is one
week.
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
Answer: (c)
Explanation:
Statement 1 is correct.
The National Sample Survey
Organization (NSSO), since its inception
in 1950, does the measurement of
employment / unemployment in India
every 5 years.
Statement 2 is correct.
The National Sample Survey
Organization (NSSO) provides three
different estimates of employment and
unemployment based on different
approaches / reference periods used to
classify an individual’s activity status.
These are the
1. Usual status approach with a
reference period of 365 days
preceding the date of survey.
2. Current weekly status approach
with a reference period of seven days
preceding the date of survey.
3. Current daily status approach with
each day of the seven days
preceding date of survey as the
reference period.
Additional Information:
In order to find out whether an individual
is employed or unemployed it needs to
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
be first determined whether he/she
belongs to the ‘Labour Force’ or not,
which in turn depends on the Activity
Status of the individual during the
chosen reference period.
Activity Status refers to the activity
situation in which the individual is found
during the reference period with respect
to his participation in economic or non-
economic activities.
The NSSO defines following three broad
Activity Status i) Working (engaged in an
economic activity) i.e. ‘Employed’ ii)
Seeking or available for work i.e.
‘Unemployed’ iii) Neither seeking nor
available for work.
All those individuals having a broad
activity status as i) or ii) above are
classified as being in the Labour Force
and those having activity status iii) are
classified as outside the Labour Force.
Thus, labour force constitutes of both
employed and unemployed.
Source:
https://www.isid.ac.in/~planning/Unem
ployment2_w.pdf
25. Which of the following are
components of Pradhan Mantri
Awas Yojana?
(1) In-situ rehabilitation of
existing slum dwellers using
land as a resource through
private participation
(2) Subsidy for Beneficiary-led
individual house
construction/enhancement.
(3) Affordable Housing in
Partnership
Select the correct answer using the
code given below:
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answers: (d)
14
Explanation:
All the given statements are correct.
Pradhan Mantri Awas Yojana (PMAY) is
an initiative by Government of India in
which affordable housing will be provided
to the urban and rural poor with a target
of building 20 million affordable houses
by 2022. It has two components:
Pradhan Mantri Awas Yojana (Urban)
(PMAY-U) for the urban poor and
Pradhan Mantri Awas Yojana (Gramin)
(PMAY-G and also PMAY-R) for the rural
poor.
The Pradhan Mantri Awas Yojana will
provide central assistance to Local
Bodies and other implementing agencies
through States/UTs for:
 In-situ Rehabilitation of existing slum
dwellers using land as a resource
through private participation
 Credit Linked Subsidy
 Affordable Housing in Partnership
 Subsidy for Beneficiary-led individual
house construction/enhancement.
Credit linked subsidy component will be
implemented as a Central Sector
Scheme while other three components
will be implemented as Centrally
Sponsored Scheme (CSS).
Source: https://pmaymis.gov.in/
26. Consider the following statements
regarding 14th Finance
Commission:
(1) It recommended setting up of
NITI Aayog by replacing
Planning Commission to
promote cooperative
federalism.
(2) It made provision of
performance grant for
Panchayat Raj Institutions.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
(d) Neither 1 nor 2
Answer: (b)
Explanation:
Statement 1 is incorrect.
On 29 May 2014, the Independent
Evaluation Office, and not the 14th
Finance Commission submitted an
assessment report to Prime Minister
Narendra Modi with the recommendation
to replace the Planning Commission with
a “advisory commission” to promote co-
operative federalism.
The Union Government of India
announced the formation of NITI Aayog
on 1 January 2015, and the first meeting
was held on 8 February 2015.
Statement 2 is correct.
The Fourteenth Finance Commission has
more than doubled the grant for local
bodies and recommended that nearly all
of this money be spent on improving
basic services.
The Commission has divided the grant of
2.87 lakh crore in two parts: A basic part
and a performance part. The
performance part would be dependent on
two factors. One, the local authority
would need to have an audited account
for the previous year. Second, it will have
to demonstrate that it has increased its
own revenue over the previous year.
27. Regarding the 'Network for
Development of Agricultural
Cooperatives in Asia and the
Pacific (NEDAC)' which was in the
news recently, consider the
following statements:
(1) NEDAC was set up in 1991
by the United Nations’ Food
and Agriculture Organisation
(FAO), the International
Cooperative Alliance (ICA)
and the International Labour
Organisation (ILO).
15
 (2) The NEDAC is a regional (1) India was the world’s largest
forum linking cooperative oil consuming nation in 2018.
organisations of all the Asia- (2) In 2018, India was the fourth-
Pacific countries in promoting largest LNG importer in the
agricultural and rural world after Japan, South
development to ensure food Korea and China.
and livelihood security. Which of the statements given
(3) Union Agriculture Ministry above is/are correct?
and the National Cooperative (a) 1 only
Development Corporation (b) 2 only
(NCDC) are the members of (c) Both 1 and 2
NEDAC. (d) Neither 1 nor 2
Which of the statements given
above is/are correct? Answer: (b)
(a) 1 only Explanation:
(b) 1 and 2 only Statement 1 is incorrect and
(c) 1 and 3 only Statement 2 is correct.
(d) 1, 2 and 3 In 2018, India was the third-largest oil
consuming nation in the world and in the
Answer: (c) same year India was the fourth-largest
Explanation: Liquefied Natural Gas (LNG) importer
Statement 1 is correct. after Japan, South Korea and China.
Network for Development of Agricultural India has 0.5% of the oil and gas
Cooperatives in Asia and the Pacific resources of the world. India could
(NEDAC) was set up in 1991 by the overtake China as the world’s largest oil
United Nations’ Food and Agriculture demand growth centre by 2024,
Organisation (FAO), the International according to a Wood Mackenzie report.
Cooperative Alliance (ICA) and the
International Labour Organisation (ILO). 29. Consider the following statements
Statement 2 is incorrect. about 'food fortification and bio
The NEDAC sensitises governments in fortification':
the region on the role of agricultural (1) They are feasible and cost-
cooperatives in promoting agricultural effective methods of
and rural development to ensure food addressing SDG 1.
and livelihood security for millions of (2) Bio-fortification focuses on
people in Asia Pacific region. Its improving the nutritional
secretariat is at FAO Annex, Bangkok. content of the food during
Statement 3 is correct. plant growth while food-
Initially, NEDAC had 16 co-operative fortification is done manually
organisations from nine Asian countries before crop harvest.
as members. From India, Union (3) Both try to address the
Agriculture Ministry and NCDC were the hidden hunger.
initial members. At present, NEDAC has Which of the statements given
24-member organisations. above is/are correct?
(a) 1 only
28. Consider the following statements: (b) 1 and 3 only
(c) 3 only

Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)

Economy 2 and Current Affairs Nov 2018 16
 (d) 1, 2 and 3
Answer: (c)
Explanation:
Statement 1 is incorrect.
SDG 1 is about ending poverty. Food
fortification and bio fortification will help
in SDG 2 in a concrete manner (End
hunger, achieve food security and
improved nutrition) as compared to SDG
1.
Statement 2 is incorrect.
Bio-fortification focuses on improving the
nutritional content of the food during
plant growth while food-fortification is
done manually after the crop harvest.
Statement 3 is correct.
Hidden hunger is related to micro-
nutrient deficiency, which is also a target
under SDG 2.
Source: Vajiram and Ravi Current
Affairs booklet - November 2018, Page
4.
30. Consider the following statements
with respect to Goods and Services
Tax (GST) during the time period of
Jan to Nov 2018:
(1) The percentage of taxpayers,
who have not filed returns
has steadily increased.
(2) Composition scheme has
been extended to service
providers only and not to
manufacturers.
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
Answer: (a)
Explanation:
Statement 1 is correct.
The percentage of taxpayers who have
not filed returns under GST has steadily
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
increased over the last 12 months to over
28 per cent in November 2018 as against
10.56 per cent in November 2017.
Statement 2 is incorrect.
Revenue collection under GST is already
an area of worry, with Budget targets
likely to be missed this year. The low
compliance rate could be one of the
possible roadblocks in extending the
composition scheme to service providers.
Under the composition scheme, traders,
manufacturers and restaurants pay a low
nominal tax rate.
31. Which of the following statements
is/are correct regarding the
National Financial Reporting
Authority (NFRA)?
(1) It is an independent regulator
for the auditing profession
and accounting standard.
(2) It is a statutory body
replacing the Institute of
Chartered Accountants of
India (ICAI).
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
Answer. (a)
Explanation:
Statement 1 is correct.
In the wake of accounting scams and
frauds in the corporate sector, National
Financial Reporting authority (NFRA)
was notified as an independent regulator
for auditing profession and accounting
standard.
It consists of a Chairperson, three full
time members and nine part-time
members selected through a search-
cum-selection committee headed by
Cabinet Secretary.
17
NFRA will review the quality of corporate
financial reporting in certain classes and
subclasses of companies and take
disciplinary action against auditors/audit
firms for not discharging their statutory
duties with due diligence.
Statement 2 is incorrect.
Section 132 of the Companies Act, 2013
provides for constitution of National
Financial Reporting Authority. The
inherent regulatory role of ICAI as
provided for in the Chartered
Accountants Act, 1949 shall continue in
respect of its members in general and
specifically with respect to audits
pertaining to private limited companies,
and public unlisted companies below the
threshold limit to be notified in the rules.
Value Addition:
The Quality Review Board (QRB) will
also continue quality audit in respect of
private limited companies, public unlisted
companies below prescribed threshold
and also with respect to audit of those
companies that may be delegated to
QRB by NFRA.
Additional Info:
The jurisdiction of NFRA for investigation
of Chartered Accountants and their firms
under section 132 of the Act would
extend to listed companies and large
unlisted public companies, the threshold
for which shall be prescribed in the rules.
Source:
http://pib.nic.in/newsite/PrintRelease.a
spx?relid=176918
http://www.mca.gov.in/SearchableAct
s/Section132.htm
32. The first global 'Sustainable Blue
Economy Conference' was held
recently in which of the following
place?
(a) Nairobi, Kenya
(b) New Delhi, India
(c) Tokyo, Japan
(d) Ottawa, Canada
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Answer: (a)
Explanation:
The first Sustainable Blue Economy
Conference was held in Nairobi, capital
of Kenya. It was organized by Kenya and
co-hosted by Japan and Canada. It
builds on the momentum of the UN’s
2030 Agenda for Sustainable
Development, the 2015 Climate Change
Conference in Paris and the UN Ocean
Conference 2017 “Call to Action”.
33. Regarding the 'G-20 summits',
consider the following statements:
(1) India has never hosted any
G-20 summit.
(2) The first-ever G-20 summit
was held in Washington, DC.
(3) South America hosted the
first ever G-20 summit in
2018.
Which of the statements given
above is/are correct?
(a) 1 and 2 only
(b) 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (d)
Explanation:
The G20 (or Group of Twenty) is an
international forum for the governments
and central bank governors from 19
countries and the European Union.
Founded in 1999 with the aim to discuss
policy pertaining to the promotion of
international financial stability, the G20
has expanded its agenda since 2008 and
heads of government or heads of state,
as well as finance ministers and foreign
ministers, have periodically conferred at
summits ever since. It seeks to address
issues that go beyond the responsibilities
of any one organization.
Statement 1 is correct.
18
India will host the first G-20 summit in the
year 2022. India has never hosted any
G-20 summit earlier.
Statement 2 is correct.
On November 16-17, 2008,
Washington, DC, the G-20 held it’s first-
ever summit. Before this meeting, the G-
7 guided most global economic plans.
Statement 3 is correct.
The 2018, G-20 Summit has held in the
city of Buenos Aires, Argentina. This is
the first G-20 summit which was held in
South America.
34. The term ‘Legal Entity Identifier
(LEI) code’ recently was
sometimes seen in news. Consider
the following statements with
reference to it:
(1) It is developed by World
Bank which served as a
global directory enhancing
the transparency in the
global marketplace.
(2) LEI is implemented and
maintained by Global Legal
Entity Identifier Foundation.
(3) It is mandatory for all market
participants both entities as
well as individuals.
Which of the statements given
above is/are correct?
(a) 1 and 2 only
(b) 2 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (b)
Explanation:
The Legal Entity Identifier (LEI) is a 20-
character, alpha-numeric code based on
the ISO 17442 standard. It connects to
key reference information that enables
clear and unique identification of legal
entities participating in financial
transactions. Each LEI contains
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
information about an entity’s ownership
structure.
Statement 1 is incorrect.
It is conceived by G20, on the
in recommendation of report by (Financial
Stability Board) FSB in the wake of
global financial crisis which highlighted
significant obstacles to identifying and
tracing financial transactions across the
international financial system.
Statement 2 is correct.
Globally, it is implemented and
maintained by Global Legal Entity
Identifier Foundation (GLEIF) through
Local Operation Units (LOU) established
by each country independently and
voluntarily.
In January 2013, the LEI Regulatory
Oversight Committee (ROC) took over
the responsibility for development and
implementation of the Global LEI
System. The FSB established the GLEIF
as a non-for-profit foundation in 2014.
In India entities can obtain LEI from
Legal Entity Identifier India Ltd (LEIL)
(only LOU of India), subsidiary of The
Clearing Corporation of India Ltd,
recognized by the Reserve Bank of India
(RBI) under the Payment and Settlement
Systems Act, 2007.
Statement 3 is incorrect.
Recently, the RBI has made LEI code
mandatory for all market participants
except individual. As per the RBI,
banks are required to make it mandatory
for corporate borrowers having
aggregate fund-based and non-fund-
based exposure of ₹5 crore and above
from any bank to obtain LEI registration
and capture the same in the Central
Repository of Information on Large
Credits (CRILC).
Source:
https://www.gleif.org/en/about-
lei/introducing-the-legal-entity-
identifier-lei
19
https://www.thehindubusinessline.co
m/money-and-banking/ask-corporate-
borrowers-to-obtain-legal-entity-
identifier-code-rbi-tells-
banks/article9939975.ece
35. With respect to Public Credit
Registry (PCR) being setup by
RBI, identify the incorrect
statement from the following:
(a) By having a registry of all
loans in the form of a Public
Credit Registry, the credit
delivery system can be made
more efficient, furthering
financial inclusion.
(b) It can address the bad loan
problem with Indian banks, as
corporate debtors will not be
able to borrow across banks
without disclosing existing
debt.
(c) Public Credit Registry may
help to improve the ranking of
India in the World Bank’s
Ease of Doing Business
Index.
(d) The Public Credit Registry
will collect the information
from the banking entities
only.
Answer: (d)
Explanation:
Option (a) is correct.
PCR will address issues such as
information asymmetry, improve access
to credit and strengthen the credit culture
among consumers.
Option (b) is correct.
It can also address the bad loan problem
staring at banks, as corporate debtors
will not be able to borrow across banks
without disclosing existing debt.
Option (c) is correct.
Setting up the PCR will help improve
India’s rankings in the World Bank’s ease
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
of doing business index. A credit
repository helps banks distinguish
between a bad and a good borrower and
accordingly offer attractive interest rates
to good borrowers and higher interest
rates to bad borrowers.
Option (d) is incorrect.
Data on borrowings from banks, non-
banking financial companies, corporate
bonds or debentures from the market,
external commercial borrowings (ECBs),
foreign currency convertible
bonds(FCCBs), masala bonds, and inter-
corporate borrowings are not available in
one data repository. PCR will help
capture all relevant information about a
borrower, across different borrowing
products in one place. It can flag early
warnings on asset quality by tracking
performance on other credits.
Source: Vajiram and Ravi Current
Affairs booklet - November 2018, Page
24
36. In the context of the 'Global
Compact for Migration', sometimes
seen in the news, consider the
following statements:
(1) It is the first ever inter-
governmentally negotiated
agreement, prepared under
the auspices of the United
Nations.
(2) The Compact is an
international treaty and will
be binding under the
international law.
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
Answer: (a)
Explanation:
Statement 1 is correct.
20
Global Compact for Migration is the first, (1) If the ToT of a country
intergovernmental negotiated agreement, increases, the country
prepared under the auspices of the benefits.
United Nations, to cover all dimensions (2) If the ToT of a country
of international migration in a holistic and decreases, the country stands
comprehensive manner. to lose.
In September 2016 the General Which of the statements given
Assembly decided, through the adoption above is/are correct?
of the New York Declaration for (a) 1 only
Refugees and Migrants, to develop a (b) 2 only
global compact for safe, orderly and (c) Both 1 and 2
regular migration. (d) Neither 1 nor 2
Statement 2 is incorrect.
The compact was formally endorsed by Answer: (c)
the United Nations General Assembly on Explanation:
19 December 2018. As the Compact is ToT = Price of exports/ Price of Imports
not an international treaty, it will be non- for a country.
binding under international law.
39. Regarding 'Minor Forest Produce
37. The CriSidEx index is seen in news (MFP)', sometimes seen in the
sometimes. This index is related to news, consider the following
which of the following? statements:
(a) House prices. (1) MFP does not come under
(b) Outlook on MSME sector. the government’s minimum
(c) Banking sector performance. support price scheme.
(d) Power sector. (2) Under the Panchayats
(Extension to the Scheduled
Answer: (b) Areas) Act, 1996, gram
Explanation: sabha has the power to
CriSidEx is India’s first sentiment index regulate and restrict the
jointly developed by CRISIL and SIDBI. It ownership of MFP.
is a composite index based on the Which of the statements given
diffusion index of 8 parameters and above is/are correct?
measures MSME business sentiment on (a) 1 only
a scale of 0 to 200. The crucial benefit of (b) 2 only
CriSidEx is that its readings will flag (c) Both 1 and 2
potential headwinds and changes in (d) Neither 1 nor 2
production cycles and help improve
market efficiencies in MSME sector. And Answer: (b)
by capturing the sentiments of exporters Explanation:
and importers, it will also offer actionable Minor Forest Produce (MFP) is a subset
indicators on foreign trade. of forest produce and got a definition only
in 2007 when the Scheduled Tribes and
38. Consider the following statements Other Traditional Forest Dwellers
regarding “Terms of Trade (ToT)” (Recognition of Forest Rights) Act, 2006,
used in the field of international was enacted. Section 2(i) of the said Act
trade: defines a Minor Forest Produce (MFP) as

Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)

Economy 2 and Current Affairs Nov 2018 21
all non-timber forest produce of plant
origin and includes bamboo, brushwood,
stumps, canes, Tusser, cocoon, honey,
waxes, Lac, tendu/kendu leaves,
medicinal plants and herbs, roots, tuber
and the like.
Statement 1 is correct.
The Government of India has launched a
central sector scheme for marketing of
Minor Forest Produce through Minimum
Support Price (MSP) and development of
value chain to ensure fair monetary
returns to MFP gatherers for their efforts
in collection, primary processing,
storage, packaging, transportation etc.
The scheme envisages fixation and
declaration of Minimum Support Price for
the selected MFP based on the
suggestions /inputs received from Tribal
Cooperative Marketing Development
Federation of India (TRIFED) which
came into existence in 1987.
Statement 2 is correct.
The Panchayats (Extension to the
Scheduled Areas) PESA Act, 1996
empowers the gram sabha to regulate
and restrict the ownership of MFP.
40. Which of the following is not a
salient feature of ‘India’s Intended
Nationally Determined
Contributions’?
(a) Propagate a healthy and
sustainable way of living
based on traditions and
values of conservation and
moderation.
(b) Reduce the emissions
intensity of its GDP by 33 to
35% by 2030 from 2005 level.
(c) Achieve 100% electric power
installed capacity from non-
fossil fuel-based energy
resources by 2030.
(d) Create an additional carbon
sink of 2.5 to 3 billion tonnes
of CO2 equivalent through
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
additional forest and tree
cover by 2030.
Answer: (c)
Explanation:
Statements in options (a), (b) and (d)
are correct.
INDCs are declaration of individual
countries which indicate what post-2020
climate actions they intend to take under
a new international agreement, known as
their Intended Nationally Determined
Contributions (INDCs).
Option (c) is incorrect.
To achieve about 40 per cent cumulative
electric power installed capacity from
non-fossil fuel-based energy resources
by 2030, with the help of transfer of
technology and low-cost international
finance, including from Green Climate
Fund.
41. Which one of the following is the
best description of ‘Economic
Capital Framework’ that was in the
news recently?
(a) Through this framework
banks borrow from Reserve
Bank of India in emergency
situation when inter-bank
liquidity dries up completely.
(b) The framework decides the
rate at which the RBI lends
short-term money to the
banks against securities.
(c) The framework allows the
banks in India to hold a
certain proportion of their
deposits in the form of cash.
(d) The framework refers to the
risk capital required by the
central bank while taking into
account different risks.
Answer: (d)
Explanation:
22
Economic Capital Framework refers to
the risk capital required by the central
bank while taking into account different
risks. The economic capital framework
reflects the capital that an institution
requires or needs to hold as a counter
against unforeseen risks or events or
losses in the future.
The Reserve Bank of India (RBI), in
consultation with the government, has
set up a six-member Committee to
review the economic capital framework of
the central bank. The former RBI
Governor Bimal Jalan will be the
Committee’s Chairman and former
Deputy Governor Rakesh Mohan the
Deputy Chairman.
42. Which one of the following
countries has launched the world’s
first Sovereign Blue Bond, a
financial instrument designed to
support sustainable marine and
fisheries projects?
(a) India
(b) Seychelles
(c) Maldives
(d) Fiji
Answer: (b)
Explanation:
The Republic of Seychelles has launched
the world’s first Sovereign Blue Bond, a
financial instrument designed to support
sustainable marine and fisheries
projects. With this, Seychelles became
the first nation to pioneer such a novel
financing instrument. The bond raised
USD 15 million from international
investors. The bond demonstrates the
potential for countries to harness capital
markets for financing the sustainable use
of marine resources.
43. In the context of the 'Sustainable
Development Goals (SDGs) India
Index', sometimes seen in the
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
news, consider the following
statements:
(1) The United Nations
Framework Convention on
Climate Change (UNFCCC)
in association with the World
Bank has released the Index.
(2) The Index has been
constructed by taking all the
17 SDGs into consideration.
(3) According to the Index,
Maharashtra, Gujarat and
Himachal Pradesh are on
track to achieve the SDGs on
time.
Which of the statements given
above is/are incorrect?
(a) 1 and 2 only
(b) 3 only
(c) 1, 2 and 3
(d) None of the above
Answer: (c)
Explanation:
Statement 1 is incorrect.
The NITI Aayog has recently released
the Baseline Report of the Sustainable
Development Goals (SDG) India Index,
which comprehensively documents the
progress made by India’s States and
Union Territories towards implementing
the 2030 SDG targets.
Statement 2 is incorrect.
The Index has been constructed
spanning across 13 out of 17 SDGs
(leaving out Goals 12, 13, 14 and 17).
Statement 3 is incorrect.
According to the SDG Index, Himachal
Pradesh, Kerala, and Tamil Nadu have
been ranked on top 3 positions and are
on track to achieve the UN Sustainable
Development Goals (SDG).
44. With reference to National Nutrition
Mission (NNM), consider the
following:
23
 (1) This Mission is a joint effort
of the Ministry of Health and
Family Welfare and the
Ministry of Women and Child
Development (WCD)
(2) It would strive to achieve
reduction in stunting to 25%
by 2022.
(3) Under this Mission only the
backwards districts will be
covered.
Which of the statements given
above is/are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answers: (a)
Explanation:
Statement 1 is correct.
NNM is a joint effort of Ministry of Health
and Family Welfare and the Ministry of
Women and Child development (WCD)
towards a life cycle approach for
interrupting the intergenerational cycle of
under nutrition.
Statement 2 is correct.
NNM will be rolled out in three phases
from 2017-18 to 2019-20. NNM targets to
reduce stunting, under-nutrition, anaemia
(among young children, women and
adolescent girls) and reduce low birth
weight by 2%, 2%, 3% and 2% per
annum respectively. Although the target
to reduce Stunting is at least 2% p.a.,
Mission would strive to achieve reduction
in Stunting from 38.4% (NFHS-4) to 25%
by 2022 (Mission 25 by 2022).
Statement 3 is incorrect.
More than 10 crore people will be
benefitted by this programme. All the
States and districts will be covered in a
phased manner i.e. 315 districts in 2017-
18, 235 districts in 2018-19 and
remaining districts in 2019-20.
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Source:
http://pib.nic.in/newsite/PrintRelease.asp
x?relid=174025
https://pibindia.wordpress.com/tag/nation
al-nutrition-mission/
45. Which of the following are the
indicators used by World Economic
Forum to compute the Gender Gap
Index?
(1) Economic opportunity
(2) Social status
(3) Educational attainment
(4) Political Empowerment
Select the correct answer using the
code given below:
(a) 1, 2 and 3 only
(b) 2 and 4 only
(c) 1, 3 and 4 only
(d) 1, 2, 3 and 4
Answer: (c)
Explanation:
India made no improvement in the overall
gender gap ranking released by the
World Economic Forum (WEF) in 2018,
compared to 2017. It stood at a low 108
out of the 149 countries in 2018, the
same as in 2017. Global gender gap
report is published annually by the world
economic forum since 2006. Global
gender gap index is a part of this which
measures gender equality across four
pillars– they are economic opportunity,
political empowerment, educational
attainment and health and survival.
46. Consider the following statements
about European Union (EU):
(1) The European Union is the
second largest trade bloc in
the world after ASEAN.
(2) The member States of EU
remain sovereign and
independent states and they
have decided to pool some of
their 'sovereignty' in EU.
24
 (3) All EU member States are
legally committed to joining
the Euro, with the exception
of Denmark and Britain.
(4) All the members of EU use
Euro as their official national
currency.
Which of the statements given
above is/are correct?
(a) 1 and 4 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 2 and 4 only
Answer: (c)
Explanation:
Statement 1 is incorrect.
The Union currently counts 28 EU
countries (including UK for the time being
as of Feb 2019) and is the largest trade
bloc in the world.
With just 6.9 % of the world's population,
EU trade with the rest of the world
accounts for some 15.6 % of global
imports and exports.
Together with the United States and
China, the EU is one of the 3 largest
global players in international trade.
Statement 2 is correct.
The member States of EU remain
sovereign and independent states and
they have decided to pool some of their
'sovereignty' in EU. Member states can
negotiate an opt-out from any of the
European Union legislation or treaties,
and agree to not participate in certain
policy areas.
Statements 3 and 4 are incorrect.
The euro (€) is the official currency of 19
out of 28 EU countries. These countries
are collectively known as the Eurozone.
Non-euro area countries: These are
countries where the Euro has still not
been adopted, but who will join once they
have met the necessary conditions.
Mostly, it consists of countries of member
states which acceded to the Union in
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
2004, 2007 and 2013, after the Euro was
launched in 2002.
Countries with an opt-out: Concerning
the single currency, this is the case for
the United Kingdom and Denmark.
Both these countries kept their currency
after becoming members of the EU.
47. Which of the following statements
is/are correct regarding the
‘Partners’ Forum’, sometimes seen
in the news?
(1) It is a global partnership to
achieve the free movements
of goods and labour.
(2) The partnership is an alliance
of all the member countries
of the WTO.
(3) India has hosted the fourth
Partners’ Forum in
association with the WTO.
Which of the statements given
above is/are incorrect?
(a) 1 only
(b) 1 and 2 only
(c) 1, 2 and 3
(d) None of the above
Answer: (c)
Explanation:
Statement 1 is incorrect.
Partners’ Forum is a global health
partnership launched in September 2005
to accelerate efforts to reduce child and
maternal mortality, improve adolescent,
child, newborn and maternal health.
Statement 2 is incorrect.
This partnership is an alliance of more
than 1,000 plus members, across 10
constituencies in 92 countries: academic,
research and teaching institutions;
donors and foundations; health care
professionals; multilateral agencies; non-
governmental organizations; partner
countries; global financing mechanisms
and the private sector.
Statement 3 is incorrect.
25
The fourth Partners’ Forum was recently
held in New Delhi. It was hosted by the
Government of India, in association with
the Partnership for Maternal, New-born
and Child Health (PMNCH). The previous
chapters were held in Johannesburg,
South Africa (2014), New Delhi, India
(2010) and Dar Es Salaam, Tanzania
(2007). This is the second time India is
hosting the Partners’ Forum.
48. Consider the following statements
about ‘Project Sashakt’:
(1) It is a comprehensive plan for
the resolution of stressed
assets in the banking sector.
(2) It involves pro-active
government interference.
(3) Sunil Mehta Committee
recommended five-pronged
strategy towards resolution of
stressed assets.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (b)
Explanation:
Statement 1 is correct.
Recently, the Government of India
announced a comprehensive plan
Project Sashakt for the resolution of
stressed assets in the banking sector. It
aims to strengthen the credit capacity,
credit culture and credit portfolio of public
sector banks.
Statement 2 is incorrect.
The plan does not involve government
interference as it would entirely be led
by the banks. Also, it does not require
any law to be enacted. All provisions
comply with existing regulation of
banking sector.
Statement 3 is correct.
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Project Sashakt is a five-pronged
strategy towards resolution of
stressed assets, as recommended by
Sunil Mehta Committee which are:
 Small and Medium Enterprise
resolution approach
 Bank led resolution approach
 Asset Management Company /
Alternative Investment Fund
 NCLT/ IBC approach
 Asset-trading approach
Source:
https://www.thehindubusinessline.co
m/money-and-banking/mehta-panel-
submits-5-point-plan-to-fight-
npas/article24314726.ece
49. For nations facing domestic
financial crisis, a term ‘Dutch
Disease’ is used sometimes. Which
among the following is not its
characteristic?
(a) The negative consequences
arising from large increases
in the value of a country's
currency.
(b) A substantial increase in
natural resource prices.
(c) Any development that results
in a large inflow of foreign
currency.
(d) None of the above.
Answer: (d)
Explanation:
All the given statements describe the
characteristics of Dutch Disease.
The term ‘Dutch disease’ refers to the
deindustrialization of a nation's economy
that occurs when the discovery of a
natural resource raises the value of that
nation's currency, making manufactured
goods less competitive with other
nations; increasing imports and
decreasing exports. The term originated
in Holland after the discovery of North
Sea gas.
26
It also refers to large inflow of foreign
currency resulting from FDI or foreign 51. In the context of the ‘Pradhan
assistance. Mantri Matru Vandana Yojana
Source: Vajiram and Ravi Current (PMMVY)’, consider the following
Affairs booklet - November 2018, Page statements:
40 (1) It is implemented in all the
districts of the country in
50. Which of the following countries accordance with the
are not the members of the provisions of the National
Organization of the Petroleum Food Security Act, 2013.
Exporting Countries (OPEC), the (2) It provides partial
world's leading oil producing bloc? compensation for the wage
(1) Ecuador loss in terms of cash
(2) Algeria incentives so that the woman
(3) Indonesia can take adequate rest
(4) Nigeria before and after delivery of
(5) Qatar the first living child.
Select the correct answer using the (3) The focal point of
code given below: implementation of the
(a) 2, 3 and 5 only scheme is the Anganwadi
(b) 3 and 5 only Centre and ASHA / ANM
(c) 2 and 3 only workers.
(d) 1, 3, 4 and 5 Which of the statements given
above is/are correct?
Answer: (b) (a) 1 and 2 only
Explanation: (b) 3 only
OPEC was founded in 1960 by Iran, Iraq, (c) 1, 2 and 3
Kuwait, Saudi Arabia and Venezuela, five (d) None of the above
major oil-producing countries. Currently,
the Organization has a total of 15 Answer: (c)
Member Countries. The current OPEC Explanation:
members are the following: Algeria, Pradhan Mantri Matru Vandana Yojana
Angola, Ecuador, Equatorial Guinea, (PMMVY) is a Centrally Sponsored
Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Scheme implemented by Ministry of
the Republic of the Congo, Saudi Arabia, Women and Child Development.
United Arab Emirates, and Venezuela. Statement 1 is correct.
Indonesia was a former member; Qatar The scheme is being implemented on a
is no longer a member of OPEC starting 60:40 cost-sharing basis with the State
from 1 January 2019. Qatar is not the governments. Maternity Benefit
first country to leave OPEC. Indonesia, Programme would be implemented in all
Gabon and Ecuador have all previously the districts of the country in accordance
left. All three returned at a later stage, with the provision of the National Food
but Indonesia, which re-joined and Security Act, 2013.
withdrew a second time in 2016, has not Statement 2 is correct.
returned to the bloc since. After Qatar's The objectives of the scheme are:
decision to leave the bloc, 14-member providing partial compensation for the
countries remain. wage loss in terms of cash incentives so

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Economy 2 and Current Affairs Nov 2018 27
that the woman can take adequate rest The Global Carbon Project works
before and after delivery of the first living collaboratively with the International
child; and the cash incentives provided Geosphere - Biosphere Programme, the
would lead to improved health seeking World Climate Programme, the
behaviour amongst the Pregnant Women International Human Dimensions
and Lactating Mothers. Programme on Global Environmental
Statement 3 is correct. Change and Diversities, under the Earth
PMMVY is implemented using the System Science Partnership.
platform of Anganwadi Services scheme Statement 2 is correct.
of Umbrella ICDS under Ministry of The Global Carbon Atlas is established
Women and Child Development. PMMVY by the Global Carbon project.
shall be implemented through a centrally
deployed Web Based MIS Software 53. With reference to the 'Climate
application and the focal point of Vulnerable Forum (CVF)',
implementation would be the Anganwadi sometimes seen in the news,
Centre (AWC) and ASHA/ ANM workers. consider the following statements:
(1) The CVF is an international
52. Recently the 'Global Carbon cooperation group of
Project' was in the news. In this developing countries tackling
context, consider the following global climate change.
statements: (2) The CVF was set up by India
(1) It is a project under the in the Global Climate Action
Global Energy Parliament. Summit held in San
(2) The Global Carbon Atlas is Francisco, California.
established by the Global (3) The United Nation’s agencies
Carbon Project. collaborate in implementing
Which of the statements given activities linked to the CVF.
above is/are correct? Which of the statements given
(a) 1 only above is/are correct?
(b) 2 only (a) 1 only
(c) Both 1 and 2 (b) 2 and 3 only
(d) Neither 1 nor 2 (c) 1 and 3 only
(d) 1, 2 and 3
Answer: (b)
Explanation: Answer: (c)
The Global Carbon Project was formed in Explanation:
2001 to help the international science Statement 1 is correct.
community to establish a common, The Climate Vulnerable Forum (CVF) is
mutually agreed knowledge base that an international cooperation group of
supports policy debate and action to slow developing countries tackling global
the rate of increase of greenhouse gases climate change.
in the atmosphere. It is a Global Statement 2 is incorrect.
Research Project of Future Earth and a The CVF was set up by the Maldives
research partner of the World Climate government before the 2009 United
Research Programme. Nations Climate Change Conference in
Statement 1 is incorrect. Copenhagen, which sought to increase

Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)

Economy 2 and Current Affairs Nov 2018 28
awareness of countries considered
vulnerable.
Statement 3 is correct.
United Nations agencies collaborate in
implementing activities linked to the CVF
with the UNDP, the lead organization
supporting the forum’s work. The CVF
was formed to increase the accountability
of industrialized nations for the
consequences of global climate change.
Afghanistan, Nepal and Bhutan are its
members, whereas India is one of the
observer states.
54. In the context of the Himalayan
State Regional Council (HSRC),
which was in the news recently,
consider the following statements:
(1) HSRC will be the nodal
agency for the Sustainable
development in the
Himalayan Region consisting
of 12 States.
(2) The Chairman of the HSRC
will be the Prime Minister of
India.
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
Answer: (a)
Explanation:
Statement 1 is correct.
NITI Aayog has constituted Himalayan
State Regional Council (HSRC) for the
Sustainable Development of Indian
Himalayan Region. The HSRC will be the
nodal agency for the Sustainable
development in the Himalayan Region
consisting 12 States of India. It will
monitor the implementation of action
points for Central Ministries, Institutions
and Himalayan State Governments in
Indian Himalayan Region.
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Statement 2 is incorrect.
The Himalayan State Regional Council
will consist of - Chairman- NITI Aayog
member, Chief Secretaries of the
Himalayan States, Secretaries of key
Central Ministries, senior officers of NITI
Aayog and Special invitees.
55. With reference to the 'East Asia
Summit' (EAS), sometimes seen in
the news, consider the following
statements:
(1) It is a unique Leaders-led
forum of 18 countries of the
Asia-Pacific.
(2) All the ASEAN and the
SAARC countries are the
members of EAS.
(3) EAS is an initiative of ASEAN
and is based on the premise
of the centrality of ASEAN.
Which of the statements given
above is/are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 1, 2 and 3
(d) None of the above
Answer: (b)
Explanation:
Statement 1 is correct.
The East Asia Summit is a unique
Leaders-led forum of 18 countries of the
Asia-Pacific region formed to further the
objectives of regional peace, security and
prosperity. It has evolved as a forum for
strategic dialogue and cooperation on
political, security and economic issues of
common regional concern and plays an
important role in the regional
architecture. Established in 2005, EAS
allows the principal players in the Asia-
Pacific region to discuss issues of
common interest and concern, in an
open and transparent manner, at the
highest level.
Statement 2 is incorrect.
29
The membership of EAS consists of ten
ASEAN Member States (i.e. Brunei 57. Regarding the 'National Super-
Darussalam, Cambodia, Indonesia, Lao computing Mission (NSM)', which
PDR, Malaysia, Myanmar, Singapore, was in the news recently, consider
Thailand, the Philippines and Vietnam), the following statements:
Australia, China, India, Japan, New (1) The objective of the mission
Zealand, Republic of Korea, Russian is to develop the world's
Federation and the USA. fastest supercomputer and to
Statement 3 is correct. make the country self-reliant
EAS is an initiative of ASEAN and is in the computer technology.
based on the premise of the centrality of (2) The Mission supports the
ASEAN. government's vision of
'Digital India' and 'Make in
56. In the context of the 'Gulf India' initiatives.
Cooperation Council (GCC)’, (3) The mission is implemented
sometimes seen in the news, by the Department of
consider the following statements: Science and Technology and
(1) The mission of the Council is the Department of
to coordinate and unify the Electronics and Information
petroleum policies among its Technology.
member countries. Which of the statements given
(2) Yemen and Jordan are not above is/are correct?
the members of the Gulf (a) 1 only
Cooperation Council. (b) 1 and 2 only
Which of the statements given (c) 2 and 3 only
above is/are correct? (d) 1, 2 and 3
(a) 1 only
(b) 2 only Answer: (c)
(c) Both 1 and 2 Explanation:
(d) Neither 1 nor 2 Statement 1 is incorrect.
National Super-computing Mission
Answer: (b) (NSM) envisages empowering national
Explanation: academic and R&D institutions spread
Statement 1 is incorrect. over the country by installing a vast
The GCC was established in Riyadh, super-computing grid comprising of more
Saudi Arabia, in May 1981. The purpose than 70 high-performance computing
of the GCC is to achieve unity among its facilities.
members based on their common Statement 2 is correct.
objectives and their similar political and The mission supports the government's
cultural identities, which are rooted in mission of Digital India and Make in India
Arab and Islamic cultures. initiatives.
Statement 2 is correct. Statement 3 is correct.
Gulf Cooperation Council (GCC), political The mission would be implemented by
and economic alliance of six Middle the Department of Science and
Eastern countries - Saudi Arabia, Kuwait, Technology and Department of
the United Arab Emirates, Qatar, Electronics and Information Technology
Bahrain, and Oman. (DeitY) through Centre for Development

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Economy 2 and Current Affairs Nov 2018 30
of Advanced Computing (C-DAC) and
Indian Institute of Science (IISc),
Bangalore. This will be done at an
estimated cost of Rs 4,500 crore over a
period of seven years.
58. 'Regulatory Indicators for
Sustainable Energy (RISE)', report
is released by which of the
following?
(a) International Energy Agency
(b) World Bank
(c) International Energy Forum
(d) World Economic Forum
Answer: (b)
Explanation:
World Bank has released its report -
Regulatory Indicators for Sustainable
Energy (RISE) 2018 - charting global
progress on sustainable energy policies.
The report was released on the side-lines
of the 24th Conference of the Parties to
the UN Framework Convention on
Climate Change(COP24). According to
the report India has gained a great
success in renewable energy auctions
that delivered record-setting low prices
for solar power.
59. What is/are the 'Momentum for
Change', which was in the news
recently?
(1) It is an initiative by the UN
Climate Change secretariat.
(2) It recognizes innovative and
transformative solutions that
address both climate change
and wider economic, social
and environmental
challenges.
Select the correct answer using the
code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Answer: (c)
Explanation:
Statement 1 is correct.
Momentum for Change is an initiative
spearheaded by the UN Climate Change
secretariat to shine a light on the
enormous groundswell of activities
underway across the globe that are
moving the world toward a highly
resilient, low-carbon future.
Statement 2 is correct.
Momentum for Change recognizes
innovative and transformative solutions
that address both climate change and
wider economic, social and
environmental challenges. The Indian
private project, HelpUsGreen is one of 15
ground-breaking projects from around
the world that has won this year’s UN
climate action award.
60. Which of the following is/are
agreed in the 2018 United Nations
Climate Change Conference (COP-
24) that took place in Katowice,
Poland?
(1) Rules to implement the Paris
Agreement, which will come
into force and replace the
existing Kyoto Protocol in
2020.
(2) Establishing new climate
finance targets from 2025
onwards to follow on from the
target of mobilizing $100
billion a year from 2020 to
support developing countries.
Select the correct answer using the
code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (c)
Explanation:
31
The 2018 United Nations Climate
Change Conference that took place
between 2 and 15 December 2018 in
Katowice, Poland, is the 24th Conference
of the Parties to the United Nations
Framework Convention on Climate
Change (COP24). It is also referred to as
the Katowice Climate Change
Conference or Katowice Climate Talks.
The most important outcome of COP24
was that the countries have agreed on
rules for the implementation of the 2015
Paris Agreement. The Katowice package
includes guidelines that will
operationalize the transparency
framework. It sets out how countries will
provide information about their Nationally
Determined Contributions (NDCs) that
describe their domestic climate actions.
This information includes mitigation and
adaptation measures as well as details of
financial support for climate action in
developing countries. Besides
transparency framework, the Katowice
package also includes guidelines that
relate to the process for establishing new
targets on finance from 2025 onwards to
follow-on from the current target of
mobilizing $100 billion per year from
2020 to support developing countries.
61. When a bank writes off a loan it
implies that:
(1) The bank gives waiver on
that loan.
(2) The bank declassifies that
loan as an asset.
(3) The bank may transfer this
loan to Asset Reconstruction
Company to recover.
(4) It gives a more accurate and
objective picture of financial
health of the bank.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 1 and 3 only
(c) 2, 3 and 4 only
(d) 2 and 3 only
Answer: (c)
Explanation:
Banks prefer to never write off bad debt
since their loan portfolios are their
primary assets and source of future
revenue. However, toxic loans, or loans
that cannot be collected, reflect very
poorly on a bank’s financial statement.
62. Consider the following statements
regarding the Price Deficiency
Payment (PDP) scheme:
(1) Under this scheme the
government pays the
difference between Minimum
Support Price (MSP) and
market price of an
agricultural product.
(2) This scheme can do away
with handling and logistic
cost of agricultural goods.
(3) It will go against the WTO
norm on subsidy restriction.
Which of the statements given
above is/are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (a)
Explanation:
Under Price Deficiency Payment
scheme, farmers are proposed to be
compensated for the difference between
the government-announced MSPs for
select crops and their actual market
prices. The key benefit from the price
deficiency payment is that it will reduce
the need for the government to actually
procure food crops, transport and store
them and then dispose of them under
PDS. The difference between the support
and market prices can instead simply be

Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)

Economy 2 and Current Affairs Nov 2018 32
paid in cash to the farmer. Price
deficiency payment scheme can also
keep India’s bill on food subsidies under
check because of reduction in
implementation cast and better targeting.
In similar way EU was able to comply the
WTO norm.
63. With reference to Logistics sector,
which of the statements given
below is/are correct?
(1) Logistic Performance Index is
released by the World Bank
bi-annually.
(2) Logistic Sector has been
given infrastructure status by
the Government of India.
(3) LEADS Index has been
launched as a domestic
index.
Select the correct answer using the
code given below:
(a) 1 and 3 only
(b) 2 and 3 only
(c) 3 only
(d) 1, 2 and 3
Answer: (d)
Explanation:
Statement 1 is correct.
Logistic Performance Index is
released by the World Bank bi-
annually by comparing across 160
countries on logistic sector performance.
It analyses countries through six
indicators;
 Custom
 International shipment
 Tracking and trace
 Infrastructure
 Competence
 Timeliness of consignment
Statement 2 is correct.
As an initiative, Government of India
gave infrastructure status to logistic
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
sector in 2017, which will ease out fund
related and another logistics bottleneck.
Statement 3 is correct.
Government has launched Logistic Ease
Across Different States (LEADS) in order
to look at logistics bottleneck at state
level.
64. Consider the following statements
about Concession Financing
Scheme:
(1) It is aimed to support Indian
entities bidding for
strategically important
infrastructure projects
abroad.
(2) Under the scheme Ministry of
External Affairs selects the
projects
Which of the above given
statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (c)
Explanation:
Statement 1 is correct.
Concession Financing Scheme is
aimed to support Indian entities
bidding for strategically important
infrastructure projects abroad. It will
now cover all Indian entities, compared to
the earlier stipulation of minimum 75%
Indian shareholding. Recently, the
government extended the Concession
Financing Scheme for five years till
2023.
Statement 2 is correct.
Under the scheme Ministry of External
Affairs selects the projects, keeping in
view the strategic interest of India and
sends the same to the Department of
Economic Affairs.
33
Source:
http://pib.nic.in/newsite/PrintRelease.a 66. Which of the following neighbours
spx?relid=181368 of India stood ahead of it in the
Global Hunger Index Report 2018?
65. Consider the following statements (1) Sri Lanka
about Bhoomi Rashi: (2) Myanmar
(1) It is a portal comprising of the (3) Nepal
entire revenue data of the (4) Bangladesh
country. Select the correct answer using the
(2) It has been integrated with code given below:
Public Financial Management (a) 1 and 3 only
Systems. (b) 2 and 4 only
(3) It will facilitate payment relate (c) 1, 2 and 3 only
to the compensation for land (d) 1, 2, 3 and 4
acquisition to all beneficiaries
directly through it. Answer: (d)
Which of the statements given Explanation:
above are correct? The Global Hunger Index was recently
(a) 1 and 2 only released in October 2018. It is a peer-
(b) 2 and 3 only reviewed publication released annually
(c) 1 and 3 only by Welthungerhilfe and Concern
(d) 1, 2 and 3 Worldwide. Overall, India has been
ranked at 103 out of 119 countries in the
Answer: (d) Index, with hunger levels in the country
Explanation: categorised as “serious”. Its ranking has
Bhoomi Rashi is a portal that has been dropped three places from last year.
developed in collaboration with National Many neighbouring countries like China
Informatics Centre, comprising the (25th), Sri Lanka (67th), Myanmar (68th),
entire revenue data of the country. The Nepal (72nd) and Bangladesh (86th)
entire process flow, from submission of stood ahead of India.
draft notification by the State
Government to its approval by the 67. Which among the following
Ministry is online. It has been integrated measures have been taken by
with Public Financial Management Government of India to support the
Systems. With this payment of renewable energy sector?
Compensation by the Ministry to the (1) Viability Gap Funding
beneficiaries will be just-in-time and (2) Maximum 50% FDI under
without any parking of funds. It will act automatic route
as one of the key functionalities to (3) Transparent bidding process
facilitate payment relate to the Select the correct answer using the
compensation for land acquisition to code given below:
all beneficiaries directly through it. (a) 1 only
Hence, Statements 1, 2 and 3 are (b) 2 only
correct. (c) 1 and 3 only
Source: (d) 1, 2 and 3
http://pib.nic.in/newsite/PrintRelease.a
spx?relid=181517 Answer: (c)

Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)

Economy 2 and Current Affairs Nov 2018 34
Explanation:
The ambitious goal of generating 175
GW of renewable energy by 2022, and
initiatives on smart cities, electric
vehicles, energy efficiency initiatives and
others have now made India one of the
global leaders in climate action. By
November 2018, a total capacity of
around 73.95GW has been installed in
the country of which 37.84GW has been
added during the last four and half years.
Following measures have been
implemented by Government of India to
support the renewable energy sector:
 Viability Gap Funding
 Permitting FDI upto 100 percent
under automatic route
 Fiscal Incentives such as capital
subsidy, accelerated depreciation,
waiver of Inter State Transmission
System (ISTS) charges and losses
 Transparent bidding process i.e
through e-reverse auction.
68. Unlike most other multilateral
development banks set up by
advanced economies, Asian
Infrastructure Investment Bank
(AIIB) is the first major multilateral
development bank where principal
contributors are the borrowing
members themselves. Which one
of the following is the largest
borrower from AIIB?
(a) Bangladesh
(b) Myanmar
(c) Sri Lanka
(d) India
Answer: (d)
Explanation:
With the total project portfolios of US
$4.4 Billion, India has been the largest
borrower of Asian Infrastructure
Investment Bank (AIIB) lending since the
time the Bank started its operations.
Unlike most other multilateral
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
development banks set up by advanced
economies, AIIB is the first major
multilateral development bank where
principal contributors are the borrowing
members themselves.
69. With reference to Special
Economic Zones (SEZs), consider
the following statements:
(1) It is a geographical region
that has economic laws
different from country’s
typical economic laws.
(2) The supplies to SEZs are
zero rated under IGST Act,
2007.
(3) Recently, government has
constituted N. K Singh
Committee to review the
Policy regarding SEZs.
Which of the statements given
above are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer: (a)
Explanation:
With a view to attract larger foreign
investments in India, the Special
Economic Zones (SEZs) Policy was
announced in April 2000.This policy
intended to make SEZs an engine for
economic growth supported by quality
infrastructure complemented by an
attractive fiscal package, both at the
Centre and the State level, with the
minimum possible regulations.
Statement 1 is correct.
Special Economic Zone (SEZ) is a
specifically delineated duty-free enclave
and shall be deemed to be foreign
territory for the purposes of trade
operations and duties and tariffs. In order
words, SEZ is a geographical region that
35
has economic laws different from a
country's typical economic laws.
The main objectives of the SEZ Act are:
 generation of additional economic
activity
 promotion of exports of goods
and services
 promotion of investment from
domestic and foreign sources
 creation of employment
opportunities
 development of infrastructure
facilities
Statement 2 is correct.
The units in SEZs are exempted from
Central Sales Tax, Service Tax and State
sales tax. These have now subsumed
into GST and supplies to SEZs are zero
rated under IGST Act, 2017.
Statement 3 is incorrect.
Recently, Baba Kalyani committee
constituted by the Ministry of Commerce
& Industry to study the existing SEZ
policy of India submitted its report to the
government.
Source:
http://sezindia.nic.in/cms/introduction.
php
https://economictimes.indiatimes.com
/news/economy/policy/what-is-
special-economic-
zone/articleshow/1164460.cms
70. Integrated Child Development
Services (ICDS) is one of the
world’s largest and unique
programmes for early childhood
care and development. In the
context of ICDS, consider the
following statements:
(1) Apart from children, other
beneficiaries under the
scheme include pregnant
women and lactating
mothers.
(2) One of the objectives of the
scheme is to provide proper
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
nutrition and health
education to mothers.
(3) Under the scheme Rs. 6000
are provided to BPL women
as maternity benefits to
promote institutional
deliveries.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answers: (b)
Explanation:
Statement 1 is correct.
The Integrated Child Development
Services (ICDS) Scheme (launched in
1975) is one of the flagship programmes
of the Government of India and
represents one of the world’s largest and
unique programmes for early childhood
care and development. The beneficiaries
under the Scheme are children in the age
group of 0-6 years, pregnant women and
lactating mothers.
Statement 2 is correct.
Objectives of the Scheme are:
 to improve the nutritional and health
status of children in the age-group 0-
6 years;
 to lay the foundation for proper
psychological, physical and social
development of the child;
 to reduce the incidence of mortality,
morbidity, malnutrition and school
dropout;
 to achieve effective co-ordination of
policy and implementation amongst
the various departments to promote
child development; and
 to enhance the capability of the
mother to look after the normal health
and nutritional needs of the child
through proper nutrition and health
education.
36
Statement 3 is incorrect.
Under the scheme there is no component
of cash transfer. The third statement is
related to Pradhan Mantri Matru
Vandana Yojana.
Source:
http://pib.nic.in/newsite/PrintRelease.asp
x?relid=173550
71. Mission SAMPARK which is seen
in news sometimes is related to
which of the following?
(a) Sex workers
(b) Primitive tribes
(c) HIV infected people
(d) Old age people
Answers: (c)
Explanation:
Mission SAMPARK is a scheme
implemented by The National AIDS
Control Organization (NACO) and the
Union Ministry of Health and Family
Welfare. It aims to eradicate HIV/AIDS by
2030. It is focused on reaching out to
track those who are left to follow up and
are to be taken under Antiretroviral
therapy (ART) services.
Source:
http://pib.nic.in/newsite/PrintRelease.a
spx?relid=174032
72. The Pradhan Mantri Bhartiya
Janaushadhi Pariyojana (PMBJP)
is launched with an objective of
making available quality generic
medicines at affordable prices to
all, especially the poor. In the
context of PMBJP, consider the
following statements:
(1) Bureau of Pharma PSUs of
India (BPPI) is the
implementation agency for
the PMBJP.
(2) PMBJP is implemented in all
districts of the country.
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
(3) PMBJP does not cover the
surgical consumables and
stents.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 1 and 2 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answers: (b)
Explanation:
Pradhan Mantri Bhartiya Jan Aushadhi
Pariyojana (PMBJP) is a campaign
launched by the Department of
Pharmaceuticals, Government of India,
to provide quality medicines at affordable
prices to the masses through special
kendra known as Pradhan Mantri
Bhartiya Jan Aushadhi Kendra. PMBJPK
has been set up to provide generic
drugs, which are available at lesser
prices but are equivalent in quality and
efficacy as expensive branded drugs.
Statement 1 is correct.
BPPI (Bureau of Pharma PSUs of India),
under the administrative control of the
Department of Pharmaceuticals, Ministry
of Chemicals & Fertilizers, Government
of India will be the implementation
agency for the PMBJP.
Statement 2 is correct. Pradhan Mantri
Bhartiya Jan Aushadhi Pariyojana will be
implemented in all the districts of the
country.
Statement 3 is incorrect.
The scheme covers wide variety of
product including 700 Drugs & 154
Surgical Items and stents as well.
Source:
http://janaushadhi.gov.in/pmjy.aspx
73. The Basel Convention, often seen
in news, is related to which of the
following?
(a) Rules for illegal migrants in
Europe.
37
 (b) Banking sector regulations.
(c) Non-proliferation of nuclear
weapons.
(d) Transboundary Movements
of Hazardous Wastes and
Their Disposal.
Answer: (d)
Explanation: The Basel Convention on
the Control of Transboundary
Movements of Hazardous Wastes and
Their Disposal, usually known as the
Basel Convention, is an international
treaty that was designed to reduce the
movements of hazardous waste between
nations, and specifically to prevent
transfer of hazardous waste from
developed to less developed countries
(LDCs). It does not, however, address
the movement of radioactive waste. The
Convention is also intended to minimize
the amount and toxicity of wastes
generated, to ensure their
environmentally sound management as
closely as possible to the source of
generation, and to assist LDCs in
environmentally sound management of
the hazardous and other wastes they
generate.
Source:
http://www.basel.int/TheConvention/O
verview/tabid/1271/Default.aspx
74. What are the benefits of 'transgenic
rice', developed in India?
(1) It can help to reduce arsenic
accumulation in rice grains.
(2) It can generate high yields
even under the conditions of
high salinity, high
temperature and drought.
Select the correct answer using the
code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Answer: (c)
Explanation:
Statement 1 is correct.
Arsenic accumulation in rice grains is
one of the serious agricultural issues in
India. To address this, researchers at
Lucknow- based CSIR-National
Botanical Research Institute have
developed transgenic rice by inserting a
novel fungal gene, which results in
reduced arsenic accumulation in rice
grain.
Statement 2 is correct.
Transgenic rice promises to generate
high yields even under conditions of high
salinity, high temperature and drought.
75. India has the largest number of
malnourished children in the world.
In this context, consider the
following statements:
(1) Odisha has a better
nutritional status compared
with Gujarat.
(2) Chhattisgarh has improved
malnutrition level compared
to Maharashtra.
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
Answer: (c)
Explanation:
Both statements 1 and 2 are correct:
The low income and Empowered-Action-
Group (EAG) States face major
challenges to improve malnutrition, but,
two EAG States, Chhattisgarh and
Odisha, have performed better on this
front compared to Gujarat and
Maharashtra where per capita income is
almost double. Odisha, which is a low-
income State, has a better network of
38
Integrated Child Development Services
(ICDS), public health facility/workforce
per lakh population and educational
attainment among women, which have
translated into a better nutritional status
when compared with Gujarat.
Additional Information:
The launch of the National Nutrition
Mission as a strategy to fight maternal
and child malnutrition is a welcome step
towards achieving the targets of
underweight and stunted children under
five years from 35.7% to 20.7% and from
38.4% to 25% respectively by 2022.
76. Consider the following statements
with reference to the Uchchatar
Avishkar Yojana (UAY):
(1) The scheme is launched by
the Ministry of Science and
Technology.
(2) The main objective of the
scheme is to bridge the gap
between academics and
practical working field.
(3) Presently, the scheme is
being implemented only in
premier educational
institutions of the country.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 1 and 2 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (c)
Explanation:
Statement 1 is incorrect.
Uchchatar Avishkar Yojana (UAY) is
launched by Ministry of Human
Resources Development and handled by
Department of Higher Education.
Statements (2) and (3) are correct.
The main motive of the scheme is to
introduce the latest and modern
technology to the students of the premier
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
educational institutes of nation, as they
are the primary target of the
manufacturing companies to pick their
potential employees. With the
introduction of the UAY, the students
from those educational institutes able to
gain practical knowledge of those
modern technologies which ease the
process of manufacturing units and
industrial plants to boost its growth.’
During the initial stage the UAY will be
implemented only among the premier
educational units across the nations such
as IITs and so. The implementation will
be carried along with the partnership of
the respective industries.
77. With reference to the 'Regional
Integrated Multi-Hazard Early
Warning System (RIMES)', which
was in the news recently, consider
the following statements:
(1) It is an inter-governmental
body of African and Asian
nations registered under the
United Nations.
(2) It was established in 2005, in
the aftermath of the 2004
Indian Ocean tsunami.
(3) It operates from its regional
early warning centre located
at the campus of the Indian
Institute of Technology-
Madras, India.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 1 and 2 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (a)
Explanation:
Statement 1 is correct.
The Regional Integrated Multi-Hazard
Early Warning System for Africa and
Asia (RIMES) is an international and
39
intergovernmental institution, owned and them. It is based on the principles of
managed by its Member States, for the Open Regionalism for strengthening
generation and application of early Economic Cooperation particularly on
warning information. Trade Facilitation and Investment,
RIMES evolved from the efforts of Promotion as well as Social
countries in Africa and Asia, in the Development of the region. The
aftermath of the 2004 Indian Ocean Coordinating Secretariat of IORA is
tsunami, to establish a regional early located at Ebene, Mauritius.
warning system within a multi-hazard In the recent Indian Ocean Rim
framework for the generation and Association (IORA) meeting, the
communication of early warning Maldives was accepted as the 22nd
information, and capacity building for member of the IORA, while Myanmar’s
preparedness and response to trans- membership application was not
boundary hazards. approved due to lack of consensus.
Statement 2 is incorrect. Source: Vajiram and Ravi Current
RIMES was established on 30 April Affairs booklet - November 2018, Page
2009, and was registered with the United 57
Nations on 1 July 2009.
Statement 3 is incorrect. 79. With reference to the 'Indian Health
RIMES operate from its regional early Fund (IHF)', sometimes seen in the
warning center located at the campus of news, consider the following
the Asian Institute of Technology in statements:
Pathumthani, Thailand. (1) IHF was launched by the
Ministry of Health and Family
78. Which of the following is the most Welfare in collaboration with
recent nation to be inducted in the NITI Aayog.
Indian Ocean Rim Association (2) The Fund mainly supports
(IORA)? individuals and organizations
(a) Myanmar for sustainable and scalable
(b) Maldives solutions in addressing
(c) Eritrea Japanese encephalitis and
(d) South Africa dengue.
Which of the statements given
Answer: (b) above is/are correct?
Explanation: (a) 1 only
The Indian Ocean Rim Association (b) 2 only
(IORA), formerly known as the Indian (c) Both 1 and 2
Ocean Rim Initiative and Indian Ocean (d) Neither 1 nor 2
Rim Association for Regional
Cooperation (IOR-ARC), is an Answer: (d)
international organisation consisting of Explanation:
coastal states bordering the Indian Statement 1 is incorrect.
Ocean. The IORA is a regional forum, Indian Health Fund (IHF) was launched
tripartite in nature, bringing together in 2016 by Tata Trusts in collaboration
representatives of Government, Business with the Global Fund, to drive innovations
and Academia, for promoting co- towards key infectious disease
operation and closer interaction among challenges in India.

Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)

Economy 2 and Current Affairs Nov 2018 40
Statement 2 is incorrect.
It supports individuals and organisations
with already germinated innovative
strategies, services, products, such that
they become sustainable and scalable
solutions in addressing TB and malaria.
The initiative is a long-term exercise
aligned with country’s goal of eliminating
TB by 2025 and malaria by 2030. It will
promote innovative solutions such that
they are widely accessible and are
affordable.
80. Regarding the ‘Advanced Motor
Fuels Technology Collaboration
Programme (AMF TCP)’, which
was in the news recently, consider
the following statements:
(1) AMF TCP works under the
framework of Fuel cell and
Hydrogen Energy
Association.
(2) Ministry of Road Transport
and Highways has joined
AMF TCP as its 25th
member.
(3) The programme is an
international platform for co-
operation among countries to
promote cleaner and more
energy efficient fuels and
vehicle technologies.
Which of the statements given
above is/are correct?
(a) 3 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer: (a)
Explanation:
Statement 1 is incorrect.
AMF TCP is an international platform
under the framework of International
Energy Agency (IEA) for co-operation
among countries to promote cleaner and
more energy efficient fuels & vehicle
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
technologies. The activities of AMF TCP
are deployment and dissemination of
Advanced Motor Fuels. It looks upon the
transport fuel issues in a systemic way
taking into account the production,
distribution and end-use related aspects.
Statement 2 is incorrect.
Ministry of Petroleum & Natural Gas has
joined AMF TCP as its 16th member in
2018. The other member Countries of
AMF TCP are USA, China, Japan,
Canada, Chile, Israel, Germany, Austria,
Sweden, Finland, Denmark, Spain,
Republic of Korea, Switzerland and
Thailand.
Statement 3 is correct.
AMF TCP also provides an opportunity
for fuel analysis, identifying new/
alternate fuels for deployment in
transport sector and allied R&D activities
for reduction in emissions in fuel
intensive sectors.
81. With reference to the ‘National
Register of Citizens (NRC)’,
sometimes seen in the news,
consider the following statements:
(1) NRC is the only procedure to
establish citizenship and
identify foreigners in Assam.
(2) In Assam the NRC was first
updated in 1971 and since
then it has not been updated.
(3) The Citizenship Act, 1955
provides for compulsory
registration of every citizen of
India.
Which of the statements given
above is/are correct?
(a) 1 and 2
(b) 3 only
(c) 1, 2 and 3
(d) None of the above
Answer: (b)
Explanation:
41
After a militant movement to protect
Assam against Bangladesh infiltrators,
the Assam Accord was signed in 1985
between the Government of India and All
Assam Students Union (AASU), which
led to an amendment in the Citizenship
Act, 1955, to incorporate Section 6A
specifically pertaining to Assam.
Under this specific section, 100
Foreigners Tribunals have been
established in Assam to identify
foreigners. Section 6A says all Indian
origin persons, including from
Bangladesh who entered Assam before
January 1966, are deemed citizens.
Those who came between January 1,
1966, and March 25, 1971, can also get
citizenship after registering themselves
and living in India for 10 years.
Everyone who entered after March 25,
1971, is to be identified as foreigner by
the Tribunals and deported. In Assam the
updating of NRC could not be carried on
since 1951 due to various political
tensions such as Assam Movement of
1980s, the language movement etc.
82. Consider the following pairs:
Atomic State
Power
Plant in India
1. Gorakhpur Uttar
Pradesh
2. Rawatbhata Rajasthan
3. Chutka Madhya
Pradesh
Which of the above pairs is/are
correctly matched?
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer: (b)
Explanation:
Gorakhpur atomic power plant is in
Haryana, presently excavation is in
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
progress in Gorakhpur Haryana Anu
Vidyut Pariyojana (GHAVP) Units -1&2
(2X700 MW) at an advanced stage. The
first phase of the project comprising of
two units GHAVP-1 & 2 (2X700 MW) is
expected to be completed in 2025.
Chutka in Madhya Pradesh. And
Rawatbhata is in Rajasthan.
83. Which of the following international
airport in India received the
‘Champions of Earth’ award
recently?
(a) Veer Savarkar International
Airport, Andaman and
Nicobar Islands
(b) Kempegowda International
Airport, Karnataka
(c) Cochin International Airport,
Kerala
(d) Sardar Vallabhbhai Patel
International Airport, Gujarat
Answer: (c)
Explanation:
Recently the Prime Minister of India and
the Cochin airport were awarded with the
'Champions of the Earth' award. The
‘Champions of the Earth award’ was
launched in 2005. “Champions of the
Earth”, the UN’s highest environmental
honour, celebrates outstanding figures
from the public and private sectors and
from civil society whose actions have had
a transformative positive impact on the
environment.
84. The term ‘She-Box’, is seen in the
news sometimes. Consider the
following statements in this context.
(1) Under the She-Box initiative,
sanitary pad vending
machines are installed in
schools and colleges for
promoting girls and woman's
health.
42
 (2) The Initiative was launched Combination products, also known as
by the World Health fixed dose drug combinations (FDCs),
Organization in partnership are combinations of two or more active
with the Government of India. drugs in a single dosage form. FDCs’
Which of the statements given popularity in India is due to advantages
above is/are correct? such as increased efficacy, better
(a) 1 only compliance, reduced cost and simpler
(b) 2 only logistics of distribution. FDCs have
(c) Both 1 and 2 shown to be particularly useful in the
(d) Neither 1 nor 2 treatment of infectious diseases like HIV,
malaria and tuberculosis, where giving
Answer: (d) multiple antimicrobial agents is the norm.
Explanation: FDCs are also useful for chronic
Statement 1 and (2) are incorrect. conditions especially, when multiple
It is an online complaint management disorders co-exist. According to a study,
system for registering complaints related of the 110 anti-TB (tuberculosis) Fixed
to sexual harassment at workplace. It Dose Combinations (FDCs) available in
was launched by the Ministry of Women India, only 32 (less than 30%) have been
and Child Development. The complaint approved by the Central Drugs Standard
management system has been Control Organisation (CDSCO), the
developed to ensure the effective country’s drug regulator.
implementation of Sexual Harassment of
Women at Workplace (Prevention, 86. With reference to 'Kambala', an
Prohibition and Redressal) Act (the SH annual buffalo race, which of the
Act), 2013. following statements is/are correct?
(1) It is a traditional festival of
85. Which of the following is/are the the farming community of
advantages of Fixed Dose Karnataka.
Combinations (FDCs) which are (2) The event is mainly
the combinations of two or more organized during rainy
active drugs in a single dosage season in the months of July
form? and August.
(1) Better compliance. Select the correct answer using the
(2) Useful in the treatment of code given below:
infectious diseases. (a) 1 only
(3) Useful for chronic conditions (b) 2 only
especially when multiple (c) Both 1 and 2
disorders co-exist. (d) Neither 1 nor 2
Select the correct answer using the
code given below: Answer: (a)
(a) 1 only Explanation:
(b) 1 and 2 only Statement 1 is correct.
(c) 2 and 3 only Kambala is an annual buffalo race which
(d) 1, 2 and 3 is a tradition in the coastal region of
Karnataka (Dakshina Kannada and
Answer: (d) Udupi districts and bordering area of
Explanation:

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Economy 2 and Current Affairs Nov 2018 43
Kerala). This area is called Tulunadu
(Land of Tulu Language).
Statement 2 is incorrect.
This annual event starts in November
and lasts till March every year. According
to one belief, Kambala is a festival that
originated in the farming community of
Karnataka around 800 years back. The
festival is dedicated to Kadri's Lord
Manjunatha, an incarnation of Lord
Shiva. It is believed to be celebrated to
please the Gods for a good harvest. It is
a form of recreational sport for the
farming community and also another
belief is that it is considered as the Sport
of the royal (landlord) Family.
87. In the context of the 'Indian Ocean
Naval Symposium (IONS)', which
of the following statements is/are
correct?
(1) Pakistan is the only littoral
state of the Indian Ocean
region which is not a member
of the IONS.
(2) The annual meetings of the
IONS have been held
regularly in the month of
October since its launched in
2015.
Select the correct answer using the
code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (d)
Explanation:
Statement 1 is incorrect.
The Indian Ocean Naval Symposium is a
voluntary initiative that seeks to increase
maritime co-operation among navies of
the littoral states of the Indian Ocean
Region by providing an open and
inclusive forum for discussion of
regionally relevant maritime issues. The
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
littoral zone is the part of a sea, lake or
river that is close to the shore.
Statement 2 is incorrect.
Launched in 2008, biennial meetings
among the littoral states of the Indian
Ocean region have been held ever since.
The IONS act as a security construct for
the Indian Ocean region and apart from
its series of symposiums, it conducts
numerous other activities like workshops,
essay competitions and lectures to
promote its objective.
88. Which one of the following is the
best description of ‘Shakti’ that was
in the news recently?
(a) India’s first indigenous
microprocessor designed by
IIT-Madras.
(b) Indigenously developed
medium-range mobile
surface-to-air missile defense
system developed by the
DRDO.
(c) India’s first indigenous
cryogenic engine developed
by ISRO
(d) Indigenously developed low-
cost smart home system
designed by IIT-Delhi.
Answer: (a)
Explanation:
Indian Institute of Technology Madras
(IIT Madras) researchers have designed
India’s first indigenous microprocessor
called ‘Shakti’. It is aimed at developing
industrial-grade microprocessors and
other components of the microprocessor
ecosystem. It was designed, developed
and booted by IIT Madras with microchip
fabricated in ISRO’s Semi-Conductor
Laboratory at Chandigarh. It has been
developed under project partly funded by
Ministry of Electronics and Information
Technology (MeitY), as part of two-
44
decade-old efforts to develop indigenous
microprocessors.
89. Regarding the ‘Earth Bio-Genome
Project’, which was in the news
recently, consider the following
statements:
(1) It proposes a detailed
genome-sequence draft of
every organisms with a
defined nucleus and to which
belong all plants and
animals.
(2) It is an international,
collaborative research
program initiated by the
World Health Organizations.
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
Answer: (a)
Explanation:
Statement 1 is correct.
The Earth Bio-Genome Project (EBP)
plans to record the genomes - the DNA
blueprint of life - of 1.5 million species of
animal, plant, protozoa and fungi within a
decade. So far, 19 research institutions
around the world have signed up to take
part in the EBP and more plan to join.
They expect to read the full DNA
sequence of all the world’s eukaryotic
species - organisms whose cells have a
nucleus enclosed by membranes. These
are animals, plants, fungi and protozoa,
which encompass all of life except simple
microbes (bacteria and archaea).
Statement 2 is incorrect.
The initiative was inspired by Human
Genome Project, and emerged during
November 2015 meeting between Harris
Lewin (UCD), Gene E. Robinson (IGB)
and W. John Kress (Smithsonian
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Institution's National Museum of Natural
History). In February 2017, at major
conference on genomics and biodiversity
organized by the Smithsonian Institution
and BGI in Washington, D.C. was
supported project's 10-year plan and
organizational structure.
90. With reference to the ‘New
Horizons Mission’, sometimes seen
in the news, consider the following
statements:
(1) It is the first spacecraft which
successfully fly by the planet
Mercury.
(2) This mission is a part of
NASA’s Viking program.
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
Answer: (d)
Statement 1 and (2) are incorrect.
New Horizons is an interplanetary space
probe that was launched as a part of
NASA’s New Frontiers program. It was
launched in 2006, became the first
mission to visit Pluto in 2015. Travelling
farther into the Kuiper Belt, the nuclear-
powered space probe has come within
3,500 km of Ultima Thule. It is the fifth
artificial object to achieve the escape
velocity needed to leave the Solar
System. New Horizon’s core science
mission is to map the surfaces of Pluto
and Charon, to study Pluto’s atmosphere
and to take temperature readings.
91. Which of the statements is/are
correct regarding the ‘National
Accreditation Board for Certification
Bodies (NABCB)’, sometimes seen
in the news?
45
 (1) NABCB is a constituent of
Quality Council of India
(QCI).
(2) NABCB is the third
accreditation body in the
Asia-Pacific Region to
become internationally
equivalent in the region.
Select the correct answer using the
code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (c)
Explanation:
Statement 1 is correct.
The National Accreditation Board for
Certification Bodies (NABCB), India’s
national accreditation body, has secured
equivalence for its accreditation
programme for Occupational Health and
Safety Management Systems (OHSMS).
NABCB can facilitate export of Indian
goods in the global market by attesting
that these are certified as per
international standards by competent
certifying bodies. It is a constituent Board
of the Quality Council of India, is
responsible for accreditation of
certification/inspection bodies as per
applicable international standards under
an international system of equivalence.
Statement 2 is correct.
It is the third accreditation body in the
Asia-Pacific region (other two being the
accreditation bodies of Hong Kong and
Mexico).
92. The United Nations has recently
launched a new framework titled
‘UN Global Counter-Terrorism
Coordination Compact’, in this
context, consider the following
statements:
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
(1) The framework is an
agreement between the UN
Security Council and the
intelligence agencies of all
the members of the United
Nations.
(2) The Security Council of the
United Nations will oversee
and monitor the
implementation of the
framework.
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
Answer: (d)
Explanation:
The United Nations has launched a new
framework titled ‘UN Global Counter-
Terrorism Coordination Compact’ to
combat international terrorism and
coordinate efforts across the peace and
security, humanitarian, human rights and
sustainable development sectors.
Statement 1 is incorrect.
The framework is an agreement between
the UN chief, 36 organisational entities,
the International Criminal Police
Organisation (INTERPOL) and the World
Customs Organisation to better serve the
needs of member states when it comes
to tackling the scourge of international
terrorism.
Statement 2 is incorrect.
The Coordination Committee of the
United Nations will oversee the
implementation of the framework and
monitor its implementation. The
committee will be chaired by UN Under-
Secretary-General for counter-terrorism.
93. Regarding the 'Organisation for the
Prohibition of Chemical Weapons
(OPCW), sometimes seen in the
46
 news, consider the following
statements:
(1) The OPCW has the powers
to monitor chemical industry
to prevent chemical weapons
from re-emerging.
(2) India has signed the OPCW
agreement but is yet to ratify
it.
(3) The OPCW was awarded the
2015 Nobel Peace Prize for
its work in Syria.
Which of the statements given
above is/are correct?
(a) 1 only
(b) 1 and 2 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (a)
Explanation:
The Organisation for the Prohibition of
Chemical Weapons (OPCW) is a Hague-
based intergovernmental body that works
for the elimination of chemical weapons.
It was formed after the Chemical
Weapons Convention - an arms control
treaty that bans the production,
stockpiling and use of chemical weapons
- entered into force in 1997. The OPCW
is the implementing body of the
Convention. All its 192-member states
are required to destroy their existing
stockpiles of chemical weapons and stop
large-scale production. These actions are
subject to verification by the OPCW.
According to the OPCW, over 96% of the
world’s declared chemical weapons
stockpiles have been destroyed.
Statement 1 is correct.
The OPCW has the powers to inspect
chemical production facilities. Israel has
signed the agreement but is yet to ratify
it. The countries that have not signed it
are Egypt, South Sudan and North
Korea.
Statement 2 is incorrect.
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
India has signed the agreement in 1993
and ratified it in 1996.
Statement 3 is incorrect.
The OPCW was awarded the 2013 Nobel
Peace Prize for its work in eliminating
chemical weapons.
94. Regional coalition known as the
‘Quad’, is a quadrilateral formation,
which of the following countries is
not part of it?
(a) Japan
(b) India
(c) Australia
(d) Singapore
Answer: (d)
Explanation:
Regional coalition known as the ‘Quad’,
the quadrilateral formation includes
Japan, India, United States and
Australia. All four nations find a common
ground of being the democratic nations
and common interests of unhindered
maritime trade and security. The idea
was first mooted by Japanese Prime
Minister Shinzo Abe in 2007.
95. With reference to the 'Trans fatty
acids (TFAs)', sometimes seen in
the news, in this regard, which of
the following statements is/are
correct?
(1) Partially hydrogenated
Vegetable Oils (PHVOs) are
the major source of trans-
fatty acids in India.
(2) Food Safety and Standards
Authority of India (FSSAI)
has proposed to limit TFA
limit in foods to 1% and
eliminate trans fats from
foods by 2025.
Select the correct answer using the
code given below
(a) 1 only
(b) 2 only
47
 (c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (a)
Explanation:
Partially hydrogenated Vegetable Oils
(PHVOs) are the major source of trans-
fatty acids in India. Trans fatty acids
(TFAs) or Trans fats are the most
harmful type of fats which can have
much more adverse effects on our body
than any other dietary constituent. These
fats are largely produced artificially but a
small amount also occurs naturally. TFAs
pose a higher risk of heart disease than
saturated fats. While saturated fats raise
total cholesterol levels, TFAs not only
raise total cholesterol levels but also
reduce the good cholesterol (HDL),
which helps to protect us against heart
disease. Trans fats consumption
increases the risk of developing heart
disease and stroke. WHO recommends
that trans-fat intake be limited to less
than 1% of total energy intake and has
called for the total elimination of TFAs in
global food supply by 2023. FSSAI has
proposed to limit TFA limit in foods to 2%
and eliminate trans fats from foods by
2022.
96. Which of the following statements
is/are correct regarding the
Stratospheric Aerosol Injection
(SAI), sometimes seen in the
news?
(1) SAI technique is a proposal
to spray large quantities of
carbon dioxide into the
stratosphere to act as a
reflective barrier against
incoming sunlight.
(2) The main objective of the SAI
is to limit the rising
temperatures that are
causing climate change.
Prelim IAS Test Series (2019) – GS Test 10 (10.02.2019)
Economy 2 and Current Affairs Nov 2018
Select the correct answer using the
code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (b)
Explanation:
The geo-engineering technique such as
stratospheric aerosol injection (SAI)
could limit rising temperatures that are
causing climate change.
Statement 1 is incorrect.
Under SAI delivery of precursor sulphide
gases such as sulfuric acid, hydrogen
sulphide (H2S) or sulphur dioxide (SO2)
are sprayed by artillery, aircraft and
balloons.
Statement 2 is correct.
This proposed method could counter
most climatic changes including
temperature rise, take effect rapidly,
have very low direct implementation
costs, and be reversible in its direct
climatic effects.
97. With reference to the 12th 'Asia-
Europe Meeting (ASEM)' summit
held in Belgium, which of the
following statements is/are correct?
(1) It is a formal process of
dialogue between the
member nations to address
mainly the security and
environment related issues.
(2) The ASEM Summit is an
annual meeting between the
defence and environment
ministers of the member
countries.
(3) It was officially established
on 1 March 1996 at the first
summit in Bangkok, Thailand.
Select the correct answer using the
code given below:
(a) 2 only
48
 (b) 3 only differently-able people
(c) 1 and 2 only around the world.
(d) 1 and 3 only Which of the statements given
above is/are correct?
Answer: (b) (a) 1 only
Explanation: (b) 2 only
The Asia-Europe Meeting (ASEM) is an (c) Both 1 and 2
informal process of dialogue and (d) Neither 1 nor 2
cooperation bringing together the 28
European Union member states, 2 other Answer: (c)
European countries, and the European Explanation:
Union with 21 Asian countries and the Statement 1 is correct.
ASEAN Secretariat. Union Ministry of External Affairs (MEA)
Statement 1 is incorrect. has launched India for Humanity initiative
The ASEM Summit is a biennial meeting to commemorate the 150th birth
between the Heads of State and anniversary of Mahatma Gandhi and
Government, the President of the honour of his service to humanity. It will
European Council, the President of the feature year-long series of artificial limb
European Commission, and the fitment camps in a number of countries
Secretary-General of the Association of spanning globe. For this initiative, MEA
Southeast Asian Nations (ASEAN). has collaborated with renowned
Statement 2 is incorrect. charitable organisation Bhagwan
The ASEM dialogue addresses political, Mahaveer Viklang Sahayata Samiti
economic and cultural issues, with the (BMVSS).
objective of strengthening the Statement 2 is correct.
relationship between the two regions, in a It will provide physical, economic and
spirit of mutual respect and equal social rehabilitation of differently-able
partnership. around world by helping them regain
Statement 3 is correct. their mobility and dignity to become self-
It was officially established on 1 March respecting and productive members of
1996 at the first summit in Bangkok, society. It focuses on Mahatma Gandhi’s
Thailand. philosophy of compassion, caring and
service to humanity.
98. Recently the Government of India
has launched the ‘India for 99. With reference to ‘the Conference
Humanity initiative’, in this context, on Disarmament (CD)’, sometimes
consider the following statements: seen in the news, consider the
(1) Union Ministry of External following statements:
Affairs (MEA) has launched (1) It is a multilateral
this initiative to disarmament forum
commemorate the 150th birth established by the United
anniversary of Mahatma Nations.
Gandhi. (2) India, Pakistan, Israel and
(2) Under this Initiative the main North Korea are not the
objective is to provide member of the conference.
physical, economic and
social rehabilitation of

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Economy 2 and Current Affairs Nov 2018 49
 (3) The conference meets (b) 2 only
annually in three separate (c) Both 1 and 2
sessions in Geneva. (d) Neither 1 nor 2
Which of the statements given
above is/are correct? Answer: (b)
(a) 2 only Explanation:
(b) 3 only Statement 1 is incorrect.
(c) 1 and 2 only NASA's Chandra X-ray Observatory, a
(d) 1 and 3 only space based x-ray observatory, was
launched and deployed by Space Shuttle
Answer: (b) Columbia on July 23, 1999. It is the most
Explanation: sophisticated X-ray observatory built to
The Conference on Disarmament (CD) is date.
a multilateral disarmament forum Statement 2 is correct.
established by the international Chandra is designed to observe X-rays
community to negotiate arms control and from high-energy regions of the universe,
disarmament agreements based at the such as the remnants of exploded stars.
Palais des Nations in Geneva. The
Conference meets annually in three
separate sessions in Geneva. The
Conference was first established in 1979
as the Committee on Disarmament as
the single multilateral disarmament
negotiating forum of the international
community. It was renamed the
Conference on Disarmament in 1984.
The Conference is formally independent
from the United Nations. The conference
has 65 members represent all areas of
the world, including all known nuclear-
weapon states including India, Pakistan,
Israel and North Korea.

100. Regarding the Chandra X-ray

Observatory (CXO), which of the
following statements is/are correct?
(1) It is a space-based satellite
observatory launched by
ISRO in 2009.
(2) It has been specially
designed to detect X-ray
emission from very high
energy regions of the
universe.
Select the correct answer using the
code given below:
(a) 1 only

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Economy 2 and Current Affairs Nov 2018 50