UPSC Necessities | Every day subject-wise quiz : Economic system MCQs on import of crude oil, wilful defaulter and extra (Week 90) | UPSC Present Affairs Information

1. The wage development of 13 per cent in nominal phrases within the unincorporated sector was increased than (-)1.1 per cent recorded throughout 2022-23.

2. The variety of employees within the unincorporated sector was recorded 10 per cent increased than the earlier 12 months.

3. The variety of institutions within the different companies sector recorded a 13 per cent improve within the manufacturing sector.

How most of the statements given above are right?

(a) Just one

(b) Solely two

(c) All three

(d) None

Clarification

— In 2023-24 (October-September), the unincorporated non-agricultural sector added round 84 lakh institutions and 1.1 crore jobs, based on the outcomes of the Annual Survey of Unincorporated Sector Enterprises (ASUSE).

— The unincorporated non-agricultural sector, which incorporates non-corporate entities, had a 13% improve in nominal wages for employees in 2023-24, in distinction to the company sector’s slower wage development.

— Wage development of 13% in nominal phrases within the unincorporated sector was increased than the (-)1.1% noticed in 2022-23. The actual charge of wage improve, adjusted for inflation, can be lower than 13%, provided that retail inflation averaged 4.9 % between October 2023 and September 2024. Therefore, assertion 1 is right.

— The variety of employees within the unincorporated sector was registered at 12.06 crore in 2023-24, a ten% improve over the earlier 12 months, with different companies experiencing the quickest growth. The variety of enterprises in different companies elevated by 23.6%, adopted by a 13% improve in manufacturing. Therefore, statements 2 and three are right.

— In accordance with the ASUSE, gross worth added (GVA) development within the nation’s unorganised corporations elevated by 16.5% in 2023-24, in comparison with 16.1% the earlier 12 months.

Subsequently, choice (c) is the right reply.

QUESTION 2

Think about the next statements:

Assertion 1: The Securities and Trade on Board of India (SEBI) has suspended buying and selling in Bharat World Builders Ltd (BGDL), a BSE-listed firm.

Assertion 2: Its inventory costs decreased by over 10,000% between November 2023 and November 2024 as a consequence of false disclosures made by the corporate to exchanges.

Which one of many following is right in respect of the above statements?

(a) Each Assertion 1 and Assertion 2 are right and Assertion 2 is the right rationalization for Assertion 1.

(b) Each Assertion 1 and Assertion 2 are right and Assertion 2 isn’t the right rationalization for Assertion 1.

(c) Assertion 1 is right however Assertion 2 is wrong.

(d) Assertion 1 is wrong however Assertion 2 is right.

Clarification

— The Securities and Trade on Board of India (SEBI) has suspended buying and selling in Bharat World Builders Ltd (BGDL), a BSE-listed firm, after its inventory costs surged over 10,000% between November 2023 and November 2024. Therefore, assertion 1 is right and assertion 2 isn’t right.

— This important rise was the results of the corporate’s fraudulent representations to exchanges. Following the SEBI’s transfer, the BSE banned buying and selling in BGDL’s securities efficient December 23.

— SEBI’s examination revealed that BGDL’s administration was revamped in December 2023, after which the enterprise made two preferential share allotments – 9.72 crore shares in April 2024 to 31 allottees and 35 lakh shares in August 2024 to 10 allottees. In consequence, the 41 allottees, who have been labeled as public shareholders, had 99.5% of the inventory.

Subsequently, choice (c) is the right reply.

QUESTION 3

With regards to the opinion buying and selling, take into account the next statements:

1. These platforms permit customers to wager on the result of future occasions.

2. India has a regulation which may instantly take care of opinion buying and selling.

Which of the statements given above is/are right?

(a) 1 solely

(b) 2 solely

(c) Each 1 and a couple of

(d) Neither 1 nor 2

Clarification

— Opinion buying and selling companies permit customers to wager on the destiny of future occasions. The enterprise is increasing quickly, attracting cash and an estimated 5 crore customers, nevertheless it seems to have principally flown below the radar in India, unregulated. Therefore, assertion 1 is right.

— Opinion buying and selling programs look to be betting platforms, and a few in authorities share this attitude. Nonetheless, traders and creators say that getting cash on these platforms requires a big quantity of talent.

— India’s sector contains corporations resembling Gurugram-based Probo and MPL Opinio. The previous asks questions on a variety of subjects, together with sports activities, elections, and cryptocurrency, whereas the latter completely asks about cricket matches.

— India at the moment lacks a regulation that may deal instantly with opinion buying and selling platforms resembling Probo and MPL Opinio – nonetheless, in international markets resembling the USA and Australia, the place this business is extra mature, governments have determined to deal with wagers as securities, placing the accountability for regulation on the inventory market regulator. Therefore, assertion 2 isn’t right.

— In India, the first authorized lens by which web video games are seen is whether or not they’re video games of probability or talent. In video games of probability, nobody can have a aggressive benefit over one other as a result of the result is fully depending on luck. Nonetheless, in talent video games, appreciable preparation could also be needed to place somebody in a greater place to make a forecast.

Subsequently, choice (a) is the right reply.

QUESTION 4

With regards to the wilful defaulter, take into account the next statements:

1. A ‘wilful default’ can be deemed to have occurred if the borrower has defaulted in assembly their compensation obligations to the lender even after they have the capability to honour the obligations.

2. The variety of wilful defaulters has decreased from March 2020 to March 2024.

Which of the statements given above is/are right?

(a) 1 solely

(b) 2 solely

(c) Each 1 and a couple of

(d) Neither 1 nor 2

Clarification

— A staggering 2,664 corporates have been labeled as wilful defaulters, failing to repay financial institution loans regardless of having the means to take action, based on the Reserve Financial institution of India (RBI).

— In accordance with RBI knowledge, the variety of wilful defaulters elevated from 2,154 in March 2020 to 2,664 in March 2024, whereas the quantity due elevated from Rs 1,52,860 crore to Rs 1,96,441 crore during the last 4 years. Therefore, assertion 2 isn’t right.

— These corporations have claimed many thousand crores in default and different obligations earlier than the Nationwide Firm Regulation Tribunal (NCLT). In accordance with the RBI classification, a ‘wilful default’ happens when a borrower fails to finish their compensation commitments to the lender regardless of having the capability to take action. Therefore, assertion 1 is right.

— A wilful default occurs when the borrower has not utilised the finance from the lender for the precise function for which finance was availed of, and has diverted the funds for different functions, or siphoned off funds, or disposed of or eliminated the movable mounted property or immovable property given for the aim of securing a time period mortgage with out the data of the financial institution.

Subsequently, choice (a) is the right reply.

QUESTION 5

With regards to the import of crude oil, take into account the next statements:

1. Heavy dependence on imported crude oil makes the Indian economic system weak to world oil worth volatility.

2. Increased imports results in decrease commerce deficit.

3. A downward strain on worldwide oil costs is unfavorable for India as a consequence of its extraordinarily excessive dependence on oil imports.

Which of the statements given above is/are right?

(a) 1 and three solely

(b) 1 solely

(c) 2 and three solely

(d) 3 solely

Clarification

— The present drop in world crude oil costs has resulted in India’s oil import invoice falling 12 months on 12 months in September, October, and November, even supposing import volumes elevated in every of those months, based on the most recent petroleum ministry knowledge.

— Due to India’s reliance on oil imports, a drop in worldwide oil costs, and therefore in its oil import invoice, is a plus.

— The Indian economic system’s heavy reliance on imported crude oil makes it weak to world oil worth volatility, which has an affect on the nation’s commerce deficit, international trade reserves, rupee trade charge, and inflation. Therefore, assertion 1 is right.

— A downward strain on worldwide oil costs, and consequently on India’s oil import invoice, is a constructive for the nation as a consequence of its extraordinarily excessive dependence on oil imports. Therefore, assertion 3 isn’t right.

— Better imports lead to a higher commerce deficit. Therefore, assertion 2 isn’t right.

— In accordance with an evaluation of provisional oil business knowledge from the oil ministry’s Petroleum Planning & Evaluation Cell (PPAC), India’s oil imports in worth phrases fell 9% 12 months on 12 months to $31.2 billion within the September-November interval, regardless of a rise in import volumes of 4.4 % to 57.2 million tonnes.

Subsequently, choice (b) is the right reply.

Earlier Every day Topic-Clever-Quiz

Every day Topic-wise quiz — Historical past, Tradition, and Social Points (Week 89)

Every day subject-wise quiz — Polity and Governance (Week 90)

Every day subject-wise quiz —  Science and Know-how (Week 90)

Every day subject-wise quiz — Surroundings and Geography (Week 90)

Every day subject-wise quiz — Economic system (Week 89)

Every day subject-wise quiz – Worldwide Relations (Week 89)

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