UPSC Static Quiz, 22 June 2023

Correct Answer: A
Ans: A the Paris Agreement
● Global Stocktake- It was established under article 14 of the Paris Agreement. The Global
Stocktake is designed to “assess the collective progress towards achieving the purpose of the
Paris Agreement and its long-term goals.”
● The Global Stocktake will evaluate progress at the global level — not the individual country level
— and identify overall trends that should inform countries’ national climate commitments (NDCs),
which are required to be updated at least every five years.
● The purpose of the Global Stocktake is not to create a single point of assessment or a snapshot
in time, but rather a living tool that continually informs countries’ enhanced climate commitments
on issues related to mitigation, adaptation and finance, as well as cross-cutting issues of equity.
● The third and final step of the first Global Stocktake will occur at COP28 in the United Arab
Emirates in 2023. Since the Global Stocktake is set to be completed every five years, this phase
would occur again in 2028 and 2033, etc

Correct Answer: D
Ans: D 1, 2, and 4 only
● A critical mineral is a metallic or non-metallic element that has two characteristics: It is
essential for the functioning of our modern technologies, economies or national security and.
There is a risk that its supply chains could be disrupted.
● Critical minerals such as copper, lithium, nickel, cobalt and rare earth elements are essential
components in many of today’s rapidly growing clean energy technologies. Lithium, nickel, cobalt,
manganese and graphite are crucial to battery performance.
● Helium, Potash, Rhenium, Strontium, and Uranium have been removed from the list. Uranium
was removed as it is classified as a fuel mineral. thus 3 and 5 are no more a critical mineral.

Correct Answer: A
Ans: A 1 only
● Industry holds a prominent position in the Indian economy, accounting for 31 percent of GDP,
on average, during FY12 and FY21 and employing over 12.1 crore people. Thus statement 1 is correct.
● As per the S&P Global India Manufacturing Purchasing Managers’ Index (PMI), the manufacturing sector in India had its most significant production growth in 13 months in December 2022.
● For the October to December quarter, the PMI averaged 56.3, the highest in a year. It indicates
that the manufacturing sector is performing well and may be contributing to job creation.
● A PMI above 50 means expansion, while a score below that denotes contraction. A reading at 50
indicates no change. Thus statement 2 is incorrect. PMI is compiled by IHS Markit for more than 40 economies worldwide.

Correct Answer: D
Ans: D 1, 2 and 3 only
● Lottery, betting and gambling are actionable claims and come within the definition of goods
under Section 2 (52) of the Central Goods and Services Tax Act, 2017. Thus statement 2 is correct.
● The Supreme Court (SC) has held that lottery, gambling and betting are taxable under the Goods and Services Tax (GST) Act, 2017. Only activities relating to lottery, betting and gambling are subject to GST and except these three, no actionable claim is covered under GST by virtue of Schedule III. Thus, statement 1 is correct.
● Article 366(12) defines goods as “goods” includes all materials, commodities, and articles; thus statement 3 is correct.

Correct Answer: A
Ans: A 1 and 2 only
● Convertibility is the ease with which a country’s currency can be converted into gold or another currency through global exchanges. It indicates the extent to which the regulations allow inflow and outflow of capital to and from the country.
● Making the rupee a fully convertible currency would mean increased liquidity in financial markets, improved employment and business opportunities, and easy access to capital.
● With increased participation from global players, new businesses, strategic partnerships, and direct investments flourish. It also helps in the creation of new employment opportunities across various industry sectors, as well as nurturing entrepreneurship for new businesses. Thus statements 1 and 2 are correct.
● Opening of Indian currency at full convertibility would mean a lack of suitable regulatory
control and rates subject to open markets. Therefore, there would be high volatility and thus may
lead to inflation in forex rate, depreciation of Indian currency. Thus 3 is incorrect.
● A rising, unregulated rupee makes Indian exports less competitive in the international markets.
Export-oriented economies like India and China prefer to keep their exchange rates lower to
retain the low-cost advantage. Thus statement 4 is incorrect.