1. Which of the following statements is correct regarding windfall taxes?
Choose the correct answer
Anonymous Quiz
5%
A. Windfall taxes are generally permanent and unchangeable.
69%
B. Windfall taxes are designed to capture additional revenue from companies experiencing.
8%
C. Windfall taxes are applicable to all sectors uniformly.
18%
D. Windfall taxes are only imposed during economic booms.
Answer: B
Explanation
● Windfall taxes are designed to tax the profits a company derives from an external,
sometimes unprecedented event— for instance, the energy price-rise as a result of the
Russia-Ukraine conflict. Hence option B is the correct answer.
● These are profits that cannot be attributed to something the firm actively did, like an
investment strategy or an expansion of business.
● Governments typically levy a one-off tax retrospectively over and above the normal
rates of tax on such profits, called windfall tax.
● One area where such taxes have routinely been discussed is oil markets, where price
fluctuation leads to volatile or erratic profits for the industry.
● They are not necessarily permanent, applicable to all sectors uniformly, or restricted to
times of economic booms.
Explanation
● Windfall taxes are designed to tax the profits a company derives from an external,
sometimes unprecedented event— for instance, the energy price-rise as a result of the
Russia-Ukraine conflict. Hence option B is the correct answer.
● These are profits that cannot be attributed to something the firm actively did, like an
investment strategy or an expansion of business.
● Governments typically levy a one-off tax retrospectively over and above the normal
rates of tax on such profits, called windfall tax.
● One area where such taxes have routinely been discussed is oil markets, where price
fluctuation leads to volatile or erratic profits for the industry.
● They are not necessarily permanent, applicable to all sectors uniformly, or restricted to
times of economic booms.
Which of the statements given above is/are correct?
Anonymous Quiz
5%
A. 1 only
9%
B. 2 only
86%
C. Both 1 and 2
1%
D. Neither 1 nor 2
2. With reference to the Wholesale Price Index (WPI) and Consumer Price Index (CPI),
consider the following statements.
1. While the Wholesale Price Index keeps track of the wholesale price of goods, the CPI
measures the average price that households pay for a basket of different goods and services.
2. The WPI does not capture changes in the prices of services, which CPI does.
consider the following statements.
1. While the Wholesale Price Index keeps track of the wholesale price of goods, the CPI
measures the average price that households pay for a basket of different goods and services.
2. The WPI does not capture changes in the prices of services, which CPI does.
Answer: C
Explanation:
About CPI
● Consumer Price Index (CPI) is an index which measures the weighted average of prices of a
basket of consumer goods and services such as transportation, food and medical care.
● It is calculated by measuring price changes for each item in the predetermined basket of
goods and services and averaging them.
● It is released by the National Statistical Office (NSO) under the Ministry of Statistics and
Programme Implementation.
● The base year used to calculate CPI in India is 2011-2012.
WPI Vs CPI
● Statement 1 is correct: While the Wholesale Price Index keeps track of the wholesale price
of goods, the CPI measures the average price that households pay for a basket of different
goods and services.
● Statement 2 is correct: The CPI basket consists of services like housing, education,
medical care, recreation etc. which are not part of WPI basket. A significant proportion
of WPI item basket represents manufacturing inputs and intermediate goods like
minerals, basic metals, machinery etc. whose prices are influenced by global factors but
these are not directly consumed by the households and are not part of the CPI item
basket.
● Even as the WPI is used as a key measure of inflation in some economies, the RBI no longer
uses it for policy purposes. The central bank currently uses the Consumer Price Index as
a key measure of inflation to set the monetary and credit policy.
● Under the Flexible Inflation Targeting (FIT) framework, RBI aims to contain CPI based
inflation within 4 percent with a band of (+/-) 2 percent.
Explanation:
About CPI
● Consumer Price Index (CPI) is an index which measures the weighted average of prices of a
basket of consumer goods and services such as transportation, food and medical care.
● It is calculated by measuring price changes for each item in the predetermined basket of
goods and services and averaging them.
● It is released by the National Statistical Office (NSO) under the Ministry of Statistics and
Programme Implementation.
● The base year used to calculate CPI in India is 2011-2012.
WPI Vs CPI
● Statement 1 is correct: While the Wholesale Price Index keeps track of the wholesale price
of goods, the CPI measures the average price that households pay for a basket of different
goods and services.
● Statement 2 is correct: The CPI basket consists of services like housing, education,
medical care, recreation etc. which are not part of WPI basket. A significant proportion
of WPI item basket represents manufacturing inputs and intermediate goods like
minerals, basic metals, machinery etc. whose prices are influenced by global factors but
these are not directly consumed by the households and are not part of the CPI item
basket.
● Even as the WPI is used as a key measure of inflation in some economies, the RBI no longer
uses it for policy purposes. The central bank currently uses the Consumer Price Index as
a key measure of inflation to set the monetary and credit policy.
● Under the Flexible Inflation Targeting (FIT) framework, RBI aims to contain CPI based
inflation within 4 percent with a band of (+/-) 2 percent.
3. Consider the following statements about Nipah infection
1) It is a zoonotic disease.
2) Fruit bats are considered the natural reservoirs of the Nipah virus.
3) There are currently no drugs or vaccines specific for Nipah virus infection.
1) It is a zoonotic disease.
2) Fruit bats are considered the natural reservoirs of the Nipah virus.
3) There are currently no drugs or vaccines specific for Nipah virus infection.
How many of the statements given above is/are correct?
Anonymous Quiz
4%
A) Only one
30%
B) Only two
65%
C) All three
1%
D) None
Answer: C
Explanation
About Nipah infection
● It is a viral infection caused by the Nipah virus (NiV).
● Fruit bats of the Pteropodidae family are the natural host of Nipah virus. Hence,
Statement 2 is correct.
● The disease was first identified in 1998 during an outbreak in Malaysia and it was named
after a village in Malaysia, Sungai Nipah. Later, Nipah outbreaks have been reported in
Singapore, Bangladesh and India.
● A study in 2018 has identified many South East Asian countries including Indian states
as potential hotspots for the NiV disease.
● NiV is on the top-10 priority list pathogens identified by the World Health Organization.
Transmission
● It is a zoonotic virus (transmitted from animals to humans) which can also be transmitted
through contaminated food or directly between people. Hence, Statement 1 is correct.
● Consumption of fruits or fruit products (such as raw date palm juice) contaminated
with urine or saliva from infected fruit bats is the most likely source of infection.
● In infected people, it causes a range of illnesses from asymptomatic (subclinical) infection
to acute respiratory illness and fatal encephalitis.
● The virus can also cause severe disease in animals such as pigs, resulting in significant
economic losses for farmers.
Treatment
● Statement 3 is correct: There are currently no drugs or vaccines specific for Nipah virus
infection.
● The primary treatment for humans is supportive care.
● Preventing the Nipah virus involves infection control measures like using protective
equipment, disinfecting surfaces, and avoiding sick animals or areas with known Nipah
virus outbreaks.
Explanation
About Nipah infection
● It is a viral infection caused by the Nipah virus (NiV).
● Fruit bats of the Pteropodidae family are the natural host of Nipah virus. Hence,
Statement 2 is correct.
● The disease was first identified in 1998 during an outbreak in Malaysia and it was named
after a village in Malaysia, Sungai Nipah. Later, Nipah outbreaks have been reported in
Singapore, Bangladesh and India.
● A study in 2018 has identified many South East Asian countries including Indian states
as potential hotspots for the NiV disease.
● NiV is on the top-10 priority list pathogens identified by the World Health Organization.
Transmission
● It is a zoonotic virus (transmitted from animals to humans) which can also be transmitted
through contaminated food or directly between people. Hence, Statement 1 is correct.
● Consumption of fruits or fruit products (such as raw date palm juice) contaminated
with urine or saliva from infected fruit bats is the most likely source of infection.
● In infected people, it causes a range of illnesses from asymptomatic (subclinical) infection
to acute respiratory illness and fatal encephalitis.
● The virus can also cause severe disease in animals such as pigs, resulting in significant
economic losses for farmers.
Treatment
● Statement 3 is correct: There are currently no drugs or vaccines specific for Nipah virus
infection.
● The primary treatment for humans is supportive care.
● Preventing the Nipah virus involves infection control measures like using protective
equipment, disinfecting surfaces, and avoiding sick animals or areas with known Nipah
virus outbreaks.
4. Which of the following issues has been a point of contention in the Demchok and Despang
areas?
areas?
Choose the correct answer
Anonymous Quiz
14%
A. Water resources
76%
B. Territorial claims
7%
C. Trade routes
3%
D. Environmental concerns
Answer: B
Explanation
● Demchok and Despang are areas in Ladakh along the Line of Actual Control that have been
points of contention between India and China due to territorial claims and border disputes.
Explanation
● Demchok and Despang are areas in Ladakh along the Line of Actual Control that have been
points of contention between India and China due to territorial claims and border disputes.
5. The central bank currently uses which of the indicators to set the monetary and credit
policy in India?
policy in India?
Choose the correct answer
Anonymous Quiz
71%
A. Consumer Price Index
16%
B. Wholesale Price Index
8%
C. Index of Industrial Production
5%
D. Index of Eight Core Industries
Answer: A
Explanation:
● The Reserve Bank of India currently uses Consumer Price Index (CPI) to set the monetary
and credit policy in India.
Explanation:
● The Reserve Bank of India currently uses Consumer Price Index (CPI) to set the monetary
and credit policy in India.
All the best to all UPSC Mains 2024 candidates!
Your hard work and dedication have brought you this far. Now it's time to give it your best shot. Stay confident and focused—success is within your reach!
#UPSCMains2024 #BestWishes #OfficersIASAcademy #HardWork #Success
Your hard work and dedication have brought you this far. Now it's time to give it your best shot. Stay confident and focused—success is within your reach!
#UPSCMains2024 #BestWishes #OfficersIASAcademy #HardWork #Success
1. Which of the following Indian states shares the longest border with Bangladesh?
choose the best answer
Anonymous Quiz
11%
A. Assam
13%
B. Meghalaya
8%
C. Tripura
68%
D. West Bengal
Answer: D
Explanation
● West Bengal shares the longest border with Bangladesh among all Indian states.
● The India-Bangladesh border spans approximately 4,096 km, making it the longest
international border that India shares with any country.
● Of this total, West Bengal's share is about 2,217 km, which is the longest stretch compared
to other Indian states that also border Bangladesh.
● Bangladesh shares borders with five Indian states: Assam, West Bengal, Mizoram,
Meghalaya, and Tripura.
Explanation
● West Bengal shares the longest border with Bangladesh among all Indian states.
● The India-Bangladesh border spans approximately 4,096 km, making it the longest
international border that India shares with any country.
● Of this total, West Bengal's share is about 2,217 km, which is the longest stretch compared
to other Indian states that also border Bangladesh.
● Bangladesh shares borders with five Indian states: Assam, West Bengal, Mizoram,
Meghalaya, and Tripura.