Ans: A

Exp:

Recently, RBI and the Government of India has decided to put in place a revised Framework on Currency Swap Arrangement for SAARC countries for the period 2024 to 2027.

About Currency Swap Arrangements:

• Central banks and Governments engage in currency swaps with foreign counterparts to meet short term foreign exchange liquidity requirements or to ensure adequate foreign currency to avoid Balance of Payments (BOP) crisis till longer arrangements can be made. Hence, Statement 1 is Correct.

• The exchange rates of currencies keep changing every day. This may lead to inconvenience at the time of repayment. For this, the exchange rate is usually fixed in advance during the signing of the agreement. So, the repayment amount remains largely the same. Hence, Statement 2 is Incorrect.

Ans: C

Exp:

Union Minister  of State (Independent Charge) for Science and Technology recently announced the grant of “Mini RATNA” status (Category-1) for Central Electronics Limited (CEL).

Criteria for grant of Maharatna status to CPSEs

• Having Navratna status
• Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.  Hence, Statement 3 is Correct.
• An average annual turnover of more than Rs. 25,000 crore during the last 3 years
• An average annual net worth of more than Rs. 15,000 crore during the last 3 years
• An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years
• Should have significant global presence/international operations.

Criteria for grant of Miniratna status to CPSEs

• Miniratna Category-I status: – The CPSEs which have made profit in the last three years continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.
• Miniratna Category-II status: – The CPSEs which have made profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status. Hence, Statement 1 is Incorrect.
  • Miniratna CPSEs should have not defaulted in the repayment of loans/interest payment on any loans due to the Government.
  • Miniratna CPSEs shall not depend upon budgetary support or Government guarantees. Hence, Statement 2 is Correct.

Ans: A

Exp:

The return of coalition politics in India will bring questions of federalism and Centre-state relations back to the fore.

About Federalism:

• Article 1: It defines India as a Union of States.
  • It suggests that no state has the power to secede from the federation and that the Indian Federation is not the result of an agreement reached by individual states.
  • The term “federation” is not explicitly used in the Indian Constitution. Hence, Statement 1 is Incorrect.
• Seventh Schedule: It divides powers between the Union and states through three lists – Union List, State List, and Concurrent List. Hence, Statement 2 is Correct.
• There is no provision for equal representation of states in the Rajya Sabha, and states lack significant influence over constitutional amendments. Hence, Statement 3 is Incorrect.

Ans: D

Exp:
Global economic growth was estimated at 3.2% in 2023 and is projected to continue at the same pace in 2024 and 2025, as per the latest World Economic Outlook 2024 report, published in April 2024.

Key Findings of World Economic Outlook 2024 report:

• GDP of India has grown, moving it from 17th position in early 1990s to the current 5th position. But the per capita GDP rise of India has been from 161st position to 159th. Hence, Statement 1 is Incorrect.
• In contrast, China’s GDP grew from 11th position to 2nd and at the same time its per capita GDP rank rose from 158th to 75th

GDP is not a Very Good Marker to Measure Development because of Non-Inclusion of Social Aspects of people’s life such as state of health, quality of education, etc. Hence, Statement 2 is Incorrect.

Ans. B

Exp:

Recently, the mainland serow, a mammal that appears somewhere between a goat and an antelope, has been recorded at the lowest elevation beyond Bhutan, its natural home.

About Given Animals:

• Geckos: They are small, mostly carnivorous lizards that have a wide distribution, found on every continent except Antarctica. Belonging to the infraorder Gekkota, geckos are found in warm climates throughout the world.

• Serow: The serow, is any of four species of medium-sized goat-like or antelope-like mammals in the genus Capricornis. A team of scientists recorded a lone mainland serow (Capricornis sumatraensis thar) at 96 metres above the mean sea level in western Assam’s Raimona National Park.

• Krait: Genus Bungarus, any of 12 species of highly venomous snakes belonging to the cobra family (Elapidae). Kraits live in Asian forests and farmland from Pakistan to southern China and southward into Indonesia. 

• Ostrich: Large flightless bird found only in open country in Africa. The ostrich’s egg, is also the world’s largest.