Ans: C

Exp:

Recently, the World Economic Forum (WEF) released the 20th Global Risks Report 2025. 

• • Global Risks Report is an annual report published by the WEF. It presents an analysis of the most pressing global risks anticipated over short-term (2 years) and long-term (10 years) periods. Hence, Option C is Correct.
  • Global risk is the potential for an event to significantly harm global GDP, population, or natural resources. 
  • Since the report’s first edition in 2006, extreme weather events have been categorised under “environmental risks.” These events have climbed into the top six risks annually since 2014, ranking as the foremost global risk from 2017 to 2020 and regaining that position in 2024. 
  • Top Risks for India: Water supply shortages, misinformation and disinformation, erosion of human rights and civic freedoms, pollution (air, water, and soil), and labour and talent shortages. 

• Top Global Risks: 

• • Immediate Risks (Next 2 years): Misinformation and disinformation, Extreme weather events, and State based armed conflict. 
  • Long-Term Risks (Next 10 Years): Extreme weather events, Biodiversity loss and ecosystem collapse and Critical changes to earth systems. 

Ans: C

Exp:

Recently, the International Labour Organization (ILO) has released its World Employment and Social Outlook: Trends 2025 report.

Key Findings of the World Employment and Social Outlook: Trends 2025 Report:

• India’s Role in Southern Asia’s Growth:

• • • India’s GDP growth was 6.9% in 2024 and is forecasted to be 6.4% in 2025.
    • Southern Asia’s economy is projected to grow by 5.8% in 2025, driven by India.

• Global Employment Trends:

• • • Statement-I is Correct: The International Labour Organization (ILO) released this report, highlighting that the global unemployment rate is expected to remain steady at 5% in 2024.
    • Youth unemployment persisted at a high 12.6%.
    • Informal work and working poverty returned to pre-pandemic levels.

• Economic Growth and Inflation:

• • • Global economic growth slowed to 3.2% in 2024.
    • Inflation eased but continued to erode real wages in many countries.

• Labour Force Participation:

• • • Southern Asia saw a significant rise in female workforce participation, especially in India.
    • Global gender gaps in labour markets remain substantial.

• Global Jobs Gap:

• • The jobs gap reached 402 million in 2024:
    • 186 million unemployed.
    • 137 million temporarily unavailable to work.
    • 79 million discouraged workers.
• Statement-II is Incorrect: The report states that the global economy has not fully recovered from the impacts of the COVID-19 pandemic due to challenges like geopolitical tensions, climate change, and unresolved debt issues.

Ans: D

Exp: 

Yala glacier, one of Nepal’s most extensively studied glaciers, is expected to vanish by 2040s. It is the only glacier in the entire Himalayas to be included in the Global Glacier Casualty List, a project launched in 2024 through a collaboration between Rice University, University of Iceland, Iceland Glaciological Society, World Meteorological Organization (WMO), World Glacier Monitoring Service, and UNESCO.

• Pair 1 is Correct: Yala Glacier is located in the Langtang region of Nepal, near the Tibetan border, at around 5,500 meters altitude. It is a source of the Trishuli River, which originates from the Langtang Himalayas.
  • The Trishuli River supports hydropower, irrigation, and is a tributary of the Gandaki River system. The river is popular for rafting and adventure sports.
• Pair 2 is Correct: Bandarpunch is a prominent mountain massif in the Garhwal Himalayas of Uttarakhand. It is part of the Sankari Range and lies within the Govind Pashu Vihar National Park and Sanctuary.
  • The massif serves as the source of the Yamuna River, originating above Yamunotri, near the western end of the massif below White Peak.
• Pair 3 is Correct: Bara Shigri Glacier, the second longest glacier in the Himalayas after Gangotri, is situated in the Chandra Valley of Lahaul, Himachal Pradesh.
  • The name “Bara Shigri” originates from the Lahaul dialect where ‘Bara’ means big and ‘Shigri’ means glacier. The glacier feeds the Chenab River, an important river system in the region.
• Pair 4 is Incorrect: The Mandakini River is a tributary of the Alaknanda River in Uttarakhand, originating from the Chorabari Glacier near Kedarnath. It is also fed by the Vasukiganga River at Sonprayag.
  • At Rudraprayag, Mandakini merges with Alaknanda, which then flows to Devaprayag, joining the Bhagirathi River to form the Ganges.
• Pair 5 is Correct: The Siachen Glacier is located in the eastern Karakoram range in Ladakh, near the point NJ9842, where the LoC between India and Pakistan ends.
  • The glacier’s melting waters feed the Nubra River, which eventually joins the Shyok River. The Shyok River further merges with the Indus River.          

Ans: C

Exp: 

• The 2025 edition of the La Perouse exercise is being headed by France with eight other countries – India, the US, Canada, Malaysia, Indonesia, Australia, the UK and Singapore- participating as well.
• Statement 1 is correct: Indigenously designed and built guided missile destroyer Indian Naval Ship (INS) Mumbai is participating in the fourth edition of the multinational naval exercise La Perouse in the eastern Indian Ocean.
• The first phase of the La Perouse exercise, with a focus on the straits of Malacca and Sunda.
• La Perouse provides an opportunity for likeminded navies to develop closer links in planning, co-ordination and information sharing for enhanced tactical interoperability.
• Statement 2 is correct: It aims to develop common Maritime Situational Awareness by enhancing the cooperation in the field of maritime surveillance.

Ans: C

Exp: 

• The Insolvency and Bankruptcy Code, 2016 (IBC) is one of India’s most significant economic reforms, introduced to address the challenges of insolvency resolution in a structured and time-bound manner.

About the Insolvency and Bankruptcy Code (IBC), 2016

• Insolvency and Bankruptcy Code was enacted in 2016 to provide a robust framework for debt resolution through corporate insolvency resolution processes (CIRP) and liquidation. Hence, Option ( c ) is correct.
• It seeks to maximize asset value and distribute fair proceeds among creditors.
• The Insolvency and Bankruptcy Code provides for a time-bound resolution of firms, addressing the issue of firm exit in India. 
• The Insolvency and Bankruptcy Board of India (IBBI) was established under the Insolvency and Bankruptcy Code, 2016.
  • It is a statutory body, responsible for making and implementing rules and regulations for insolvency and bankruptcy resolution of corporate persons, partnership firms, and individuals in India.

Objectives of Insolvency and Bankruptcy Code:

• Maximise the value of the debtor’s assets
• Ensure timely and effective resolution of Insolvency and Bankruptcy Code cases
• Balance the interests of all stakeholders, including creditors, debtors, and staff
• Provide for a framework to deal with cross-border insolvency cases.