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IAS Questions for Prelims: 2 November 2017

Nov 2, 2017 12:34 IST
    IAS Questions for Prelims 2 November 2017
    IAS Questions for Prelims 2 November 2017

    The IAS questions based on the current affairs given in this article will help IAS aspirants to make a strong perspective of events happening in India and around the world. There is a greater chance of asking such questions in IAS Prelims Exam 2018. Go through it and practice well before the IAS Exam.

    IAS Prelims Exam Guide

    1. Recently, the EESL launches $454 million ‘Creating and Sustaining Markets for Energy Efficiency’ project in partnership with the GEF. Consider the following statements regarding this:
    1. The project will receive a composite funding of $454 million comprised of the GEF grant of $20 million and co-financing of $434 million in the form of loans and equity, including a $200 million loan from the Asian Development Bank (ADB).
    2. The GEF project further brings together many technical and financing partners including United Nations Environment (UN Environment), Asian Development Bank (ADB) and Kreditanstalt für Wiederaufbau (KfW) which aims to mitigate 60 million tons of CO2 eq (carbon dioxide equivalent
    3. GEF is an international partnership of 183 countries, international institutions, civil society organizations and the private sector that addresses global environmental issues.

    Which of the following above statements is true?
    a. 1 and 2
    b. 2 and 3
    c. 1 and 3
    d. 1, 2 and 3

    Answer: d

    Explanation:

    Recognizing India’s efforts towards a low emission-economy and focusing on energy efficiency programmes, the Global Environment Facility (GEF) has now partnered with Energy Efficiency Services Limited (EESL), under Ministry of Power, for the project ‘Creating and Sustaining Markets for Energy Efficiency’, here today. The project will receive a composite funding of $454 million comprised of the GEF grant of $20 million and co-financing of $434 million in the form of loans and equity, including a $200 million loan from the Asian Development Bank (ADB). EESL further proposes Energy Efficiency Revolving Fund (EERF) for a sustainable funding mechanism for energy efficiency projects in the country.

    The EERF mechanism will support the ‘proof of concept’ investments for the new technologies of super-efficient ceiling fans, tri-generation technologies & smart grid-applications and ultimately scale up energy efficiency financing and programme development to help cover initial investment costs of identified energy efficiency programmes like street lighting, domestic lighting, five-star rated ceiling fans and agricultural pumps, in the country. This unique model will help in addressing the upfront risks of new technologies. Further, the accrued savings from these technologies can then be used to finance additional projects, which would allow capital to revolve as a sustainable funding mechanism.

    The GEF project further brings together many technical and financing partners including United Nations Environment (UN Environment), Asian Development Bank (ADB) and Kreditanstalt für Wiederaufbau (KfW) which aims to mitigate 60 million tons of CO2 eq (carbon dioxide equivalent), that will enable a total direct energy savings of 38.3 million GJ by 2022 and 137.5 million GJ by 2032. (1 GJ = 277.778 kWh).

    IAS Questions for IAS Prelims 2018: September 2017

    2. Recently, the Union Cabinet has approved trade Agreement between India and Ethiopia for strengthening and promoting trade and economic cooperation. Consider the following statements regarding this:
    1. The Trade Agreement was signed on 5th October 2017 during the State visit of the President of India to Ethiopia from 4th to 6th October 2017.
    2. The trade Agreement will replace the existing trade Agreement signed in 1982.

    Which of the above statements is true?
    a. Only 1
    b. Only 2
    c. Both 1 and 2
    d. Neither 1 nor 2

    Answer: c

    Explanation:

    The Union Cabinet has given its ex-post facto approval for the Trade Agreement between India and Ethiopia for strengthening and promoting trade and economic co-operation. The Trade Agreement was signed on 5th October 2017 during the State visit of the President of India to Ethiopia from 4th to 6th October 2017.

    The trade Agreement will replace the existing trade Agreement signed in 1982. The trade Agreement will provide for all necessary measures to encourage trade, economic cooperation, investment and technical co-operation.

    IAS Questions for IAS Prelims 2018: August 2017

    3. Recently, the Union Cabinet has approved the signing of an Agreement between India and Armenia on cooperation and mutual assistance in customs matters. Consider the following statements regarding this:
    1. This Agreement shall enter into force on the first day of the second month after the Contracting Parties notify each other in through diplomatic channels, that the necessary national legal requirements for entry into force of this Agreement have been fulfilled.
    2. The Agreement would provide a legal framework for sharing of information and intelligence between the Customs authorities of the two countries and help in the proper application of Customs laws, prevention and investigation of Customs offences and the facilitation of legitimate trade.
    3. It is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries.

    Which of the following above statements is true?
    a. 1 and 2
    b. 2 and 3
    c. 1 and 3
    d. 1, 2 and 3

    Answer: d

    Explanation:

    The Union Cabinet has given its approval for signing and ratifying an Agreement between India and Armenia on cooperation and mutual assistance in customs matters.
    The Agreement will be signed on behalf of the two countries after it is approved by the respective Governments. This Agreement shall enter into force on the first day of the second month after the Contracting Parties notify each other in through diplomatic channels, that the necessary national legal requirements for entry into force of this Agreement have been fulfilled. The Agreement will help in the availability of relevant information for the prevention and investigation of Customs offences. It is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries.

    Background:

    The Agreement would provide a legal framework for sharing of information and intelligence between the Customs authorities of the two countries and help in the proper application of Customs laws, prevention and investigation of Customs offences and the facilitation of legitimate trade. The draft text of the Agreement has been finalized with the concurrence of the two Customs Administrations. The draft Agreement takes care of Indian Customs' concerns and requirements, particularly in the area of exchange of information on the correctness of the Customs value declared and authenticity of certificates of origin of the goods traded between the two countries.

    Current Affairs Quizzes for IAS Prelims 2018: July 2017

    4. Recently, the Cabinet Committee on Economic Affairs has accorded the ex-post facto approval for implementation of Special Banking Arrangement (SBA) for Rs. 10,000 crore for payment of outstanding claims on account of fertilizer subsidy in the year 2016-17. Consider the following statements regarding this:
    1. Under the SBA, a total loan of Rs. 9,969 crore for settlement of outstanding subsidy bills with RBI was raised by the Government.
    2. Government is making available fertilizers, namely Urea and 21 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers.
    3. An SBA was worked out with SBI not with, RBI for an amount of Rs. 10,000 crore to meet the outstanding subsidy claims of fertilizer companies.

    Which of the following above statements is true?
    a. 1 and 2
    b. 2 and 3
    c. 1 and 3
    d. 1, 2 and 3

    Answer: b

    Explanation:

    The Cabinet Committee on Economic Affairs has accorded the ex-post facto approval for implementation of Special Banking Arrangement (SBA) for Rs. 10,000 crore for payment of outstanding claims on account of fertilizer subsidy in the year 2016-17. CCEA has also approved that, in future, Department of Fertilizers would avail the SBA with the concurrence of Department of Expenditure.

    Under the SBA, a total loan of Rs. 9,969 crore for settlement of outstanding subsidy bills with SBI was raised by the Government. The loan amount along with interest liability on the part of Government amounting to Rs. 80.90 crore was paid to SBI. SBA for an amount of Rs. 10,000 crore for the year 2016-17 has already been implemented/ operationalised to overcome the liquidity problems of the fertilizer companies.

    Government is making available fertilizers, namely Urea and 21 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers. For making funds available to the fertilizer companies against their subsidy claims, Ministry of Finance had approved SBA for an amount of Rs. 10,000 crore with Government interest liability limited to G-Sec rate. Accordingly, an SBA was worked out with SBI for an amount of Rs. 10,000 crore to meet the outstanding subsidy claims of fertilizer companies. The loan together with Government interest thereon has been repaid from BE 2017-18 within the sanctioned budget.

    IAS Questions for IAS Prelims 2018: June 2017

    5. Recently, the Cabinet Committee on Economic Affairs has approved ongoing Centrally Sponsored Scheme (State Plans) – Rashtriya Krishi Vikas Yojana (RKVY) as Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR) for three years. Consider the following statements regarding this:
    1. The Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR) will incentivize States in enhancing more allocation to Agriculture and Allied Sectors.
    2. The RKVY-RAFTAAR funds would be provided to the States as 60:40 grants between Centre and States (90:10 for North Eastern States and Himalayan States).
    3. The financial allocation of the scheme will be Rs. 15,722 crore with the objective of making farming as a remunerative economic activity through strengthening the farmer's effort, risk mitigation and promoting agri­business entrepreneurship.

    Which of the following above statements is true?
    a. 1 and 2
    b. 2 and 3
    c. 1 and 3
    d. 1, 2 and 3

    Answer: d

    Explanation:

    The Cabinet Committee on Economic Affairs has approved the continuation of Rashtriya Krishi Vikas Yojana (RKVY) as Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR) for three years i.e. 2017-18 to 2019-20.  The financial allocation of the scheme will be Rs. 15,722 crore with the objective of making farming as a remunerative economic activity through strengthening the farmer's effort, risk mitigation and promoting agri­business entrepreneurship. RKVY-RAFTAAR funds would be provided to the States as 60:40 grants between Centre and States (90:10 for North Eastern States and Himalayan States).

    The scheme will incentivize States in enhancing more allocation to Agriculture and Allied Sectors.  This will also strengthen farmer’s efforts through the creation of agriculture infrastructure that helps in supply of quality inputs, market facilities etc.  This will further promote agri-entrepreneurship and support business models that maximize returns to farmers.

    IAS Questions- 2016 for IAS Prelims 2018

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