UPSC Current Affairs Quiz, 09th January, 2022 – Believers IAS Academy

•Solution: (C)

oIndia’s external debt stood at USD 554.5 billion at end-June, recording a decrease of USD 3.9 billion over its level at the end of March 2020.
oFurther, the external debt to GDP ratio increased to 21.8 per cent at June-end 2020 from 20.6 per cent as on March 31.
oAs per the data, commercial borrowings remained the largest component of external debt, with a share of 38.1 per cent, followed by non-resident deposits (23.9 per cent) and short-term trade credit (18.2 per cent).
oThe share of short-term debt in total external debt declined to 18.9 per cent as on June 30 from 19.1 per cent at end-March.
oThe Reserve Bank said the US dollar denominated debt remained the largest component of India’s external debt, with a share of 53.9 per cent at end-June followed by the Indian rupee (31.6 per cent), yen (5.7 per cent), SDR (4.5 per cent) and the euro (3.5 per cent).

Solution: (C)

o An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value.
o Dumping is a process wherein a company exports a product at a price that is significantly lower than the price it normally charges in its home (or its domestic) market.
o Directorate General of Trade Remedies (DGTR) conducts anti-dumping investigations, under the Customs Tariff Act, 1975 and the rules made thereunder, on the basis of a duly substantiated application filed by the domestic industry alleging dumping of goods into the country causing injury to the domestic industry.
o The basic intent of anti-dumping measures is to eliminate injury caused to the domestic industry by the unfair trade practice of dumping and to create a level playing field for the domestic industry

Solution: (A)

oTeaser loans are those which charge comparatively lower rates of interest in the first few years after which the rates are increased

Solution: (D)

oAccording to the official data released recently, India’s gross domestic product (GDP) contracted by 7.5% during the July, August, and September quarter.
oThis means in Q2 of 2020-21 India produced 7.5% fewer goods and services when compared to what India produced in Q2 of 2019-20.
oIn the process, India’s economy has now formally entered into a technical recession because — along with the nearly 24% contraction in Q1 — India has had two consecutive quarters when GDP growth rate has declined.
oRecession is defined as a fall in the overall economic activity for two consecutive quarters (six months) accompanied by a decline in income, sales and employment.
oGross Value Added (GVA) data provides a measure of national income by looking at the value-added by different sectors of the economy in that quarter.
oIf you want to compare which parts of the economy improved production and incomes from one quarter to another, the GVA is more apt.

Solution: (C)

oFormer Chief Economic Advisor Arvind Subramanian said India had moved from socialism with limited entry (for firms) to capitalism without exit.
oAlas, capitalism without exit is zombieland, full of companies neither dead nor alive.

oIn the financial world, companies on life support are called “Zombies”:
oThose firms which are not even able to cover their debt-servicing costs with current earnings.
oThey are in bad shape, and probably should have gone out of business already.
oYet, they are being kept alive.

Solution: (A)

oGreater one-horned rhinoceros is a rhinoceros species native to the Indian subcontinent.
oIt is listed as Vulnerable on the IUCN Red List Pobitora is known for the highest density of Indian one-horned rhinos in the world along with Kaziranga National Park, the shelter for two thirds of the world’s great one-horned rhinos

Solution: (A)

oThe Environment Ministry’s wildlife division has introduced new rules to regulate the import and export of ‘exotic wildlife species’.
oCurrently, it is the Directorate-General of Foreign Trade, Ministry of Commerce, that oversees such trade.
oUnder the new rules, owners and possessors of such animals and birds must also register their stock with the Chief Wildlife Warden of their States.
oThe advisory, issued recently, also says ‘exotic wildlife species’ will mean animals named under Appendices I, II and III of the Convention on International Trade in Endangered Species (CITES) of Wild Fauna and Flora.
oIt will not include species from the Schedules of the Wild Life (Protection) Act, 1972.

Solution: (A)

o Only 3 states in North-East India have Tiger Reserves.
o They are in Assam, Arunachal Pradesh and Mizoram.

Solution: (D)

o Dormant “zombie fires” are scattered across the Arctic region.
o A zombie fire is a fire that continues to burn underground and then reignites on the surface after a period of time.
o Embers deep in organic soils such as peat lands can spark into flames weeks, months and even years later.

Solution: (C)

o Agricultural Produce Market Committee (APMC) is a statutory market committee constituted by a State Government in respect of trade in certain notified agricultural or horticultural or livestock products, under the Agricultural Produce Market Committee Act issued by that state government