UPSC PRELIMINARY MOCK TEST 67

UPSC PRELIMINARY MOCK TEST 67

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Question 1 [CLICK ON ANY COICE TO KNOW RIGHT ANSWER]
SIMBEX is an annual bilateral naval exercise conducted by the navies of which of the following nations
A
India and Indonesia
B
India and Malaysia
C
India and Singapore
D
India and USA
Question 2 [CLICK ON ANY COICE TO KNOW RIGHT ANSWER]
Jogimara caves of pre-historic paintings located in which of the following state?
A
Jharkhand
B
Odisha
C
Andhra Pradesh
D
Chhattisgarh
Question 2 Explanation: 
Some of the paintings from the later period can be seen in the Jogimara caves in the Ramgarh hills in Surguja district of Chhattisgarh. These are dated to be painted around 1000 BCE. Chhattisgarh is also home to the variety of caves in the district of Kanker like the shelter of Udkuda, Garagodi, Khairkheda, Gotitola, Kulgaon, etc. These shelters depict the human figurines, animals, palm prints, bullock carts, etc. which show a higher and sedentary type of living.
Question 3 [CLICK ON ANY COICE TO KNOW RIGHT ANSWER]
Cooperatives in India have hitherto been concentrated in which (one) of the following sectors?
1. Sugar
2. Bee-keeping
3. Dairy
4. Seaweed farming
Select the correct answer using the code given below:
A
1, 2 and 3 only
B
1 and 3 only
C
2 only
D
1, 2, 3 and 4
Question 3 Explanation: 

Last month, Prime Minister Narendra Modi urged cooperatives to venture into areas like beekeeping and seaweed farming to help farmers double their income by 2022 and boost the rural economy. He noted that cooperatives were mainly present in the sugar and dairy sectors, and there was a need now to explore new avenues like beekeeping through which farmers could bring a "Sweet Revolution" to the cooperative movement.

Khadi & Village Industries Commission took the task of development of the beekeeping Industry with a view to uplift the financial status of people living in extremely interior rural areas by introducing and popularising modern beekeeping. The bee-keeping industry was organised in 1953 by KVIC, which later set up an institute in Pune to start "beekeeping in a modern and scientific way throughout the country".

Some problems plaguing the bee-keeping sector today (Issues):
* Use of pesticides: Pesticide residues in honeybees reduces/leads to a loss of their ability to smell, which means the bees are unable to return to their hives
* Fertiliser-intensive crop areas have witnessed a decline in bee population, subsequently leading to a pollination deficit
* The foreign bee: Out of four honeybee species that are cultivated in India, three are indigenous. One species introduced from abroad in the 1980s gives good yields of honey but is prone to lots of diseases
* Beekeepers say they are harassed by farmers who believe that bees sucking out nectar causes plants to fade
* Beekeepers have no support system; the few cooperatives that are there in this sector are controlled by "big business people"

You can link the content of this IE article ( http://indianexpress.com/article/explained/narendra-modi-farmers-seaweed-farming-beekeeping-cooperative-movement-pms-beekeeping-push-sweet-dream-is-wrapped-in-buzz-of-disappointment-4887681/ ) with this TH article ( http://www.thehindu.com/opinion/op-ed/regulatory-upgrade/article19847478.ece ).
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Question 4 [CLICK ON ANY COICE TO KNOW RIGHT ANSWER]
Consider the following statements regarding Committee on Public Accounts

1.It is constituted each year for examination of accounts showing the appropriation of sums granted by Parliament for expenditure of Government of India.

2.The Committee consists of 22 members comprising 15 members elected by Lok Sabha 7 members elected by Rajya Sabha.

3.A Minister is not eligible to be elected as a member of the Committee.

Which of the statements given above is/are correct?

A
1 and 2 only
B
1 only
C
2 and 3 only
D
1, 2 and 3
Question 4 Explanation: 

All the statements are correct. "

Question 5 [CLICK ON ANY COICE TO KNOW RIGHT ANSWER]
After the latest policy announcement, officials of the central bank said that the real neutral interest rate in India is now 1.25%. Which of the following statements about the real neutral interest rate is/are incorrect?
  1. It is the estimated level of real interest rates at which the economy is growing at potential while inflation is under control.
  2. This rate can go below zero, viz. it can be negative.
  3. If projected inflation is higher than the inflation target, then the actual real rates must be higher than the neutral real rate.
Select the correct answer using the code given below:
A
1 and 2 only
B
2 only
C
1 and 3 only
D
None of the above
Question 5 Explanation: 

"Executive Director M.D. Patra hinted there was scope for policy interest rates to ease further when he said the neutral rate is 1.25 per cent, which is lower than the 1.5-2 per cent regime that prevailed under the previous governor Raghuram Rajan."

  • It is the estimated level of real interest rates at which the economy is growing at potential while inflation is under control. So the economy is chugging along without recession or overheating.
  • This measure is the rate at which desired savings equal desired investments.
  • If projected inflation is higher than the inflation target, then the actual real rates must be higher than the neutral real rate to ensure than monetary policy is anti-inflationary.
  • It gives us some idea about whether monetary policy at any point of time is too tight or too loose.
  • The empirical problem is that the real neutral rate of interest cannot be directly observed. It has to be estimated statistically. And it changes over time, depending on the inflation target of the central bank, the state of the business cycle and estimates of potential output.
  • The Indian central bank has broadly been working over the past three years under the assumption that the neutral interest rate here is somewhere between 1.5-2%. That number has now been brought down to 1.25% - or around 50 basis points. Now the RBI has not changed its inflation target. That leaves us with estimates of potential growth. So here is an uncomfortable question: Does the Indian central bank now believe that India's potential growth rate is lower than earlier estimated?

Primary Source: Click Here ; Secondary Source: Click Here ;

Improvisation: http://www.thehindu.com/business/Economy/rbi-cuts-repo-rate-by-25-bps/article9183912.ece

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