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Question 1 of 5
1. Question
1 pointsWhich among the following statements are correct about Gross Value Added (GVA) ?
1. Gross value added (GVA) is the measure of the total value of goods and services produced in an economy.
2. GVA gives a picture of the state of economic activity from the supply side..Select the correct answer using the code below:
Correct
Explanation:
What is GVA?
As per the SNA, GVA is defined as the value of output minus the value of intermediate consumption.
GVA is a measure of the contribution to GDP made by an individual producer, industry or sector.
At its simplest, it gives the rupee value of goods and services produced in the economy after deducting the cost of inputs and raw materials used.
It can be described as the main entry on the income side of the nation’s accounting balance sheet, and from economics, perspective represents the supply side.
How it has changed income calculation?
While India had been measuring GVA earlier, it had done so using ‘factor cost’.
GDP at ‘factor cost’ was the main parameter for measuring the country’s overall economic output until the new methodology was adopted.
GVA at basic prices became the primary measure of output across the economy’s various sectors and when added to net taxes on products amounts to the GDP.
In the new series, the base year was shifted to 2011-12 from the earlier 2004-05.
GVA estimates by NSO
As part of the data on GVA, the NSO provides both quarterly and annual estimates of output — measured by the gross value added — by economic activity.
The sectoral classification provides data on eight broad categories that span the gamut of goods produced and services provided in the economy.
These are: 1) Agriculture, Forestry and Fishing; 2) Mining and Quarrying; 3) Manufacturing; 4) Electricity, Gas, Water Supply and other Utility Services; 5) Construction; 6) Trade, Hotels, Transport, Communication and Services related to Broadcasting; 7) Financial, Real Estate and Professional Services; 8) Public Administration, Defence and other Services.Incorrect
Explanation:
What is GVA?
As per the SNA, GVA is defined as the value of output minus the value of intermediate consumption.
GVA is a measure of the contribution to GDP made by an individual producer, industry or sector.
At its simplest, it gives the rupee value of goods and services produced in the economy after deducting the cost of inputs and raw materials used.
It can be described as the main entry on the income side of the nation’s accounting balance sheet, and from economics, perspective represents the supply side.
How it has changed income calculation?
While India had been measuring GVA earlier, it had done so using ‘factor cost’.
GDP at ‘factor cost’ was the main parameter for measuring the country’s overall economic output until the new methodology was adopted.
GVA at basic prices became the primary measure of output across the economy’s various sectors and when added to net taxes on products amounts to the GDP.
In the new series, the base year was shifted to 2011-12 from the earlier 2004-05.
GVA estimates by NSO
As part of the data on GVA, the NSO provides both quarterly and annual estimates of output — measured by the gross value added — by economic activity.
The sectoral classification provides data on eight broad categories that span the gamut of goods produced and services provided in the economy.
These are: 1) Agriculture, Forestry and Fishing; 2) Mining and Quarrying; 3) Manufacturing; 4) Electricity, Gas, Water Supply and other Utility Services; 5) Construction; 6) Trade, Hotels, Transport, Communication and Services related to Broadcasting; 7) Financial, Real Estate and Professional Services; 8) Public Administration, Defence and other Services. -
Question 2 of 5
2. Question
1 pointsEnvironment Performance Index (EPI Index 2020) is released by:
Correct
Explanation:
Environmental Performance Index
EPI is a biennial index prepared by Yale University and Columbia University in collaboration with the World Economic Forum.
It offers a scorecard that highlights leaders and laggards in environmental performance and provides practical guidance for countries that aspire to move toward a sustainable future.
This index was first published in 2002 designed to supplement the environmental targets set forth in the United Nations Millennium Development Goals.Incorrect
Explanation:
Environmental Performance Index
EPI is a biennial index prepared by Yale University and Columbia University in collaboration with the World Economic Forum.
It offers a scorecard that highlights leaders and laggards in environmental performance and provides practical guidance for countries that aspire to move toward a sustainable future.
This index was first published in 2002 designed to supplement the environmental targets set forth in the United Nations Millennium Development Goals. -
Question 3 of 5
3. Question
1 pointsWith reference to International Convention for the Prevention of Pollution from Ships(MARPOL), consider the following statements:
1. It was developed by the International Maritime Organization
2. India is a not a signatory to MARPOL.Which of the statement given above is/are correct?
Correct
MARPOL Convention
MARPOL is the main international convention aimed at the prevention of pollution from ships caused by operational or accidental causes.
The Protocol of 1978 was adopted in response to a number of tanker accidents in 1976–1977.
It is one of the most important international marine environmental conventions.
It was developed by the IMO with an objective to minimize pollution of the oceans and seas, including dumping, oil and air pollution.
The Convention includes regulations aimed at preventing and minimizing pollution from ships – both accidental pollution and that from routine operations – and currently includes six technical Annexes.
India is a signatory to MARPOL.
It has six annexes (I to VI) and it deals with prevention of (1) Pollution from ships by Oil, (2) Noxious liquid substances, (3) Dangerous goods in packaged form, (4) Sewage, (5) Garbage and (6) Air pollution from ships respectively.Incorrect
MARPOL Convention
MARPOL is the main international convention aimed at the prevention of pollution from ships caused by operational or accidental causes.
The Protocol of 1978 was adopted in response to a number of tanker accidents in 1976–1977.
It is one of the most important international marine environmental conventions.
It was developed by the IMO with an objective to minimize pollution of the oceans and seas, including dumping, oil and air pollution.
The Convention includes regulations aimed at preventing and minimizing pollution from ships – both accidental pollution and that from routine operations – and currently includes six technical Annexes.
India is a signatory to MARPOL.
It has six annexes (I to VI) and it deals with prevention of (1) Pollution from ships by Oil, (2) Noxious liquid substances, (3) Dangerous goods in packaged form, (4) Sewage, (5) Garbage and (6) Air pollution from ships respectively. -
Question 4 of 5
4. Question
1 pointsWith reference to the role of UN-Habitat in the United Nations programme working towards a better urban future, which of the statements is/are correct?
1. UN-Habitat has been mandated by the United Nations General Assembly to promote socially and environmentally sustainable towns and cities to provide adequate shelter for all.
2. Its partners are either governments or local urban authorities only.
3. UN-Habitat contributes to the overall objective of the United Nations system to reduce poverty and to promote access to safe drinking water and basic sanitation.
Select the correct answer using the code given below:
Correct
Explanation:
About UN-Habitat:
The United Nations Human Settlements Programme is the United Nations agency for human settlements and sustainable urban development.
It was established in 1978.
It was established as an outcome of the First UN Conference on Human Settlements and Sustainable Urban Development (Habitat I) held in Vancouver, Canada in 1976.
It is headquartered at the United Nations Office at Nairobi, Kenya.
The mandate of UN-Habitat derives from the Habitat Agenda, adopted by the United Nations Conference on Human Settlements (Habitat II) in Istanbul, Turkey, in 1996.Incorrect
Explanation:
About UN-Habitat:
The United Nations Human Settlements Programme is the United Nations agency for human settlements and sustainable urban development.
It was established in 1978.
It was established as an outcome of the First UN Conference on Human Settlements and Sustainable Urban Development (Habitat I) held in Vancouver, Canada in 1976.
It is headquartered at the United Nations Office at Nairobi, Kenya.
The mandate of UN-Habitat derives from the Habitat Agenda, adopted by the United Nations Conference on Human Settlements (Habitat II) in Istanbul, Turkey, in 1996. -
Question 5 of 5
5. Question
1 pointsWhich of the following statements best describes the term ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’, recently seen in the news?
Correct
The Reserve Bank of India (RBI) on 13 June 2016 issued the guidelines on the Scheme for Sustainable Structuring of Stressed Assets.
Highlights of the Scheme
RBI formulated the Scheme for Sustainable Structuring of Stressed Assets (S4A) as an optional framework for the resolution of large stressed accounts.
The S4A envisages determination of the sustainable debt level for a stressed borrower.
It also envisages bifurcation of the outstanding debt into sustainable debt and equity/quasi-equity instruments which are expected to provide upside to the lenders when the borrower turns around.
In order to make sure that that the entire exercise is carried out in a transparent and prudent manner, S4A envisages that the resolution plan will be prepared by credible professional agencies.
An Overseeing Committee, set up by the Indian Banks Association, comprising of eminent experts will independently review the processes involved in preparation of the resolution plan for reasonableness and adherence to the provisions of these guidelines.
The scheme is applicable to those projects that have started commercial operations and have outstanding loan of over 500 crore rupees.Incorrect
The Reserve Bank of India (RBI) on 13 June 2016 issued the guidelines on the Scheme for Sustainable Structuring of Stressed Assets.
Highlights of the Scheme
RBI formulated the Scheme for Sustainable Structuring of Stressed Assets (S4A) as an optional framework for the resolution of large stressed accounts.
The S4A envisages determination of the sustainable debt level for a stressed borrower.
It also envisages bifurcation of the outstanding debt into sustainable debt and equity/quasi-equity instruments which are expected to provide upside to the lenders when the borrower turns around.
In order to make sure that that the entire exercise is carried out in a transparent and prudent manner, S4A envisages that the resolution plan will be prepared by credible professional agencies.
An Overseeing Committee, set up by the Indian Banks Association, comprising of eminent experts will independently review the processes involved in preparation of the resolution plan for reasonableness and adherence to the provisions of these guidelines.
The scheme is applicable to those projects that have started commercial operations and have outstanding loan of over 500 crore rupees.
2ND QUESTION OPTION
A IS CORRECT