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UPSC Essentials : Daily subject-wise quiz : Economy (Week 23)

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UPSC Essentials brings to you its initiative of subject-wise quizzes. These quizzes are designed to help you revise some of the most important topics from the static part of the syllabus. Each day, we will cover one new subject. Attempt today’s subject quiz on Economy to check your progress. Come back tomorrow to solve the MCQs on International Relations. Don’t miss checking the answers and explanations at the end of the quiz.

QUESTION 1

With reference to the Urban Infrastructure Development Fund (UIDF), consider the following statements:

1. It will be established for creating infrastructure in Tier-2 cities only.

2. It will be established through the use of priority sector lending shortfall.

3. It will be managed by the National Housing Bank.

How many of the statements given above are correct?

(a) Only one

(b) Only two

(c) All three

(d) None

QUESTION 2

With reference to the ports in India, consider the following statements:

1. Syama Prasad Mookerjee Port is a major port located in Maharashtra.

2. Non-major ports are administered by the Union government.

3. Major Ports have registered less growth than Non-major ports for the year 2022-23.

How many of the statements given above are correct?

(a) Only one

(b) Only two

(c) All three

(d) None

QUESTION 3

With reference to India’s projects on connectivity, consider the following statements: (PYQ 2023)

1. East-West Corridor under Golden Quadrilateral Project connects Dibrugarh and Surat.

2. Trilateral Highway connects Moreh in Manipur and Chiang Mai in Thailand via Myanmar.

3. Bangladesh-China-India-Myanmar Economic Corridor connects Varanasi in Uttar Pradesh with Kunming in China.

How many of the above statements are correct?

(a) Only one

(b) Only two

(c) All three

(d) None

QUESTION 4

The introduction of the scheme “Amrit Bharat Station Scheme” aims to:

(a) Eliminate unmanned level crossings.

(b) Increase the productivity and efficiency of its employees.

(c) To enhance and modernize railway stations throughout the Indian Railways network.

(d) All of the above

QUESTION 5

With reference to the import of solar modules, consider the following statements:

1. India has recorded a substantial increase in solar module imports from China during the first half of 2023.

2. India does not levy customs duty on the import of solar modules.

Which of the statement(s) given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

ANSWERS TO THE MCQs

1. (b)

FYI:

— The government will set up an Urban Infrastructure Development Fund (UIDF) of Rs 10,000 crore per year for creating infrastructure in Tier-2 and Tier-3 cities. Hence, statement 1 is not correct.

— The fund would be established through the use of priority sector lending shortfall. Hence, statement 2 is correct.

— The fund will be managed by the National Housing Bank, and will be used by public agencies to create urban infrastructure in Tier-2 and Tier-3 cities. Hence, statement 3 is correct.

— States will be encouraged to leverage resources from the grants of the 15th Finance Commission, as well as existing schemes, to adopt appropriate user charges while accessing the UIDF.

Therefore, option (b) is the correct answer.

2. (d)

FYI:

— According to the Ministry of Ports, Shipping and Waterways, India’s major ports handled the highest ever cargo at 795 million tonne in 2022-23.

— The major ports have handled the highest ever cargo in the history of the ports at 795 million metric tonne. This is 10 per cent higher than the previous year’s cargo handled.

— India has 12 major ports — Deendayal (Kandla), Mumbai, Mormugao, New Mangalore, Cochin, Chennai, Ennore (Kamarajar), Tuticorin (V O Chidambaranar), Visakhapatnam, Paradip and Kolkata (including Haldia) and Jawaharlal Nehru Port.

— Syama Prasad Mookerjee Port (Kolkata), Deendayal (Kandla), Jawaharlal Nehru Port and Paradip have recorded the highest ever cargo. Hence, statement 1 is not correct.

— Non-major ports are administered by state governments. Many state governments have given such ports on lease to private partners. Hence, statement 2 is not correct.

— The share of major ports in the total cargo was 54 per cent and non-major ports was 46 per cent in FY22. The share of major ports rose to 55 per cent and that of non-major ports fell to 45 per cent in FY23. Hence, statement 3 is not correct.

Therefore, option (d) is the correct answer.

3. (d)

FYI:

— The Golden Quadrilateral project aims at connecting all four metropolises and North-South Corridor connecting Srinagar to Kayakumari and East-West Corridor joining Porbandar to Silchar. Hence, statement 1 is not correct.

— India, Thailand and Myanmar are working on about 1,400-km-long highway that would link the country with Southeast Asia by land and give a boost to trade, business, health, education and tourism ties among the three countries.

— The highway will connect Moreh in Manipur, India with Mae Sot in Thailand via Myanmar. Hence, statement 2 is not correct.

— The 2800-km Bangladesh-China-India-Myanmar (BCIM) corridor proposes to link Kunming in China’s Yunnan province with Kolkata, passing though nodes such as Mandalay in Myanmar and Dhaka in Bangladesh before heading to Kolkata. Hence, statement 3 is not correct.

Therefore, option (d) is the correct answer.

4. (c)

FYI:

— The Amrit Bharat Station Scheme intends to improve and modernise railway stations across the Indian Railways network.

— The scheme intends to upgrade and modernize a total of 1275 stations across the Indian Railway system.

— The Amrit Bharat Station scheme has a long-term vision for the ongoing development of stations which involves creating Master Plans and executing them in phases to enhance various station facilities.

— These enhancements include improving station accessibility, waiting areas, toilet facilities, lift and escalator installations as needed, cleanliness, providing free Wi-Fi, establishing kiosks for local products through initiatives such as ‘One Station One Product,’ enhancing passenger information systems, establishing Executive Lounges, designating spaces for business meetings, incorporating landscaping, and catering to the unique needs of each station.

Therefore, option (c) is the correct answer.

(Other Source: http://www.india.gov.in)

5. (d)

FYI:

— India has recorded a substantial 76 per cent drop in solar module imports from China during the first half of 2023 which reflects New Delhi’s resolute shift towards self-sufficiency in solar manufacturing. Hence, statement 1 is not correct.

— According to the report by global energy think tank Ember, India’s solar module imports from China plummeted from 9.8 GW in the first half of 2022 to a mere 2.3 GW during the corresponding period in 2023.

— This strategic shift, coupled with the imposition of tariffs, underscores India’s determination to minimise dependency on imports and prioritise the development of its domestic manufacturing capacity.

— India started levying a customs duty of 40 per cent on solar modules and 25 per cent on solar cells from April 2022 in a bid to cut imports and boost local manufacturing. Hence, statement 2 is not correct.

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— The country’s effort to minimising import dependency and cultivate a vibrant domestic solar manufacturing ecosystem is consistent with the country’s larger aims of sustainability and energy self-reliance.

Therefore, option (d) is the correct answer.

Previous Daily Subject-Wise-Quiz

Daily subject-wise quiz — Polity and Governance (Week 23)

Daily Subject-wise quiz — History, Culture, and Social Issues (Week 23)

Daily subject-wise quiz — Environment, Geography, Science and Technology (Week 23)

Daily subject-wise quiz — Economy (Week 22)

Daily subject-wise quiz – International Relations (Week 21)

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