Economy (Part-4) (CDS-Solved Paper)

Total Questions: 16

1. Consider the following statements relating to the Non-Alignment Movement: [Evening Shift-2014 (II)]

1. The Non-Aligned Movement (NAM) was created and founded during the collapse of the colonial system and the independence struggles of the people of Africa, Asia, Latin America and other regions of the world and at the height of the Cold War.

2. The First Summit of the Movement of Non-Aligned countries was convened by the leaders of India, Indonesia, Egypt, Syria and Yugoslavia at Belgrade on 1-6 September, 1961.

3. During the early days of the Movement, its actions were a key factor in the decolonisation process, which led later to the attainment of freedom by many countries and to the founding of several new sovereign states.

4. The fundamental principle of the movement is to maintain equal distance from both the super powers by joining the military alliances of both the blocs.
Which of the statements given above are correct?

Correct Answer: (a) 1, 2 and 3
Solution:

The NAM was founded during the collapse of colonial system, independence struggle of Asian, African and Latin American countries and at the height of Cold War. The leaders of India, Burma, Indonesia, Egypt, Yugoslavia, Ghana played important role though Syria too participated in the first NAM Summit.

It did help the decolonisation process, but it does not encourage to join the military alliances of both the blocs. In fact, non-adherence to multilateral military pacts was one of the primary objectives. Hence, all the statements are correct.

2. Which of the following is not correct regarding the 2014 FIFA Football World Cup? [Evening Shift-2014 (II)]

Correct Answer: (c) Brazil is the first country to host a World Cup for the second time
Solution:

‘We Are One’ was the official song and Dar Um Jeito (We Will Find A way) was the official anthem of 2014 FIFA Football World Cup. Mexico is the first country to host a World Cup for the second time.

It hosted World Cup in 1970 and 1986. Brazil hosted it in 1950 and then in 2014. In 2014, it is for the first time that two consecutive World Cups are not hosted in Europe. It was held in Africa (South Africa) in 2010 and in South America (Brazil) in 2014. Hence, option (c) is incorrect.

3. Which of the following statements about Marrakesh Treaty is/are correct? [Evening Shift-2014 (II)]

1. The main goal of the treaty is to create a set of mandatory limitations and exceptions for the benefits of the blind and visually impaired.
2. India has ratified the treaty.
3. The treaty has come into force from July, 2014.
Select the correct answer using the codes given below

Correct Answer: (b) 1 and 2
Solution:

The Marrakesh Treaty focuses on copyright exceptions to facilitate the creation of accessible versions of books and other copyrighted works. It sets a norm for countries ratifying the treaty to have a domestic copyright exception covering these activities, and allowing for the import and export of such materials.

As of 6th July, 2014, 79 countries have signed the Treaty. India ratified the treaty on 24th July, 2014 and was the first country to do so. This treaty was signed at Morocco on 28th June, 2013. Hence statements 1 and 2 are correct and 3 is incorrect.

4. Consider the following statements about SAARC: [Evening Shift-2014 (II)]

1. The SAARC Secretariat is located at Kathmandu.
2. The Secretariat is headed by the Secretary General, who is appointed by the Council of Ministers from Member States in alphabetical order for a three year term.
3. The Secretary General is assisted by eight Directors on deputation from the Member States.
Select the correct answer using the codes given below

Correct Answer: (c) 1, 2 and 3
Solution:

The SAARC Secretariat is based in Kathmandu, Nepal. It coordinates and monitors implementation of activities, prepares for services meetings and serves as a channel of communication between the association and its member states as well as other regional organisations.

The Secretariat is headed by the Secretary General, who is appointed by the Council of Ministers from Member States in alphabetical order for a three year term. Arjun Bahadur Thapa from Nepal is the current Secretary General of the SAARC.

The Secretary General is assisted by eight Directors on deputation from the Member States. The SAARC Secretariat and Member States observe 8th December as the ‘SAARC Charter Day’.

5. Match List I with List II and select the correct answer using the codes given below the Lists: [Evening Shift-2014 (II)]

Correct Answer: (a)
Solution:

The National Academy of Direct Taxes, Nagpur is the apex training institution of the Indian Revenue Service and the Income Tax.

Rafi Ahmed Kidwai National Postal Academy, Ghaziabad was previously known as Postal Staff College of India (PSCI). It was set-up in the year 1977, as the apex training institution of India Post.

Sardar Vallabhbhai Patel National Police Academy is the Indian National Institute for training of Indian Police Service (IPS) officers before they are sent to their respective State cadres to carry out their duties. The academy is in Hyderabad.

Indira Gandhi National Forest Academy, Dehradun was constituted in the year 1987 by renaming the erstwhile Indian Forest College, which was originally established in 1938 for training senior forest officers. Hence option (a) is the correct Matching.

6. Consider the following statements on SAFTA: [Evening Shift-2014 (II)]

1. SAFTA is a trade liberalisation programme among the South-Eastern countries of Asia. 2. According to SAFTA, the Ministerial Council shall meet at least once every year or more often as and when considered necessary by the Contracting States.
Which of the statement(s) given above is/are correct?

Correct Answer: (b) Only 2
Solution:

The SAFTA is a trade Iiberalisation programme among the South Asian Countries of Asia i.e., India, Bangladesh, Bhutan, Nepal, Pakistan, Sri Lanka, Afghanistan and Maldives, It was agreed upon on 6th January 2004 and came into force in 2006. It was finalised in the 12th SAARC annual summit at Islamabad, Pakistan.

According to the SAFTA, minisprial council shall meet at least once every year or more often as and when considered necessary by the contrating states.
Hence, only statement 2 is correct.

7. Consider the following statements on Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) [Evening Shift-2014 (II)]

1. BIMSTEC has seven members Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.
2. BIMSTEC provides a link between South Asia and South-East Asia by way of economic cooperation and linkages in identified areas of cooperation.
3. BIMSTEC was rechristened as BISTEC in the year 2014.
Which of the statement(s) given above is/are correct?

Correct Answer: (c) 1 and 2
Solution:

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation involving a group of countries in South Asia and South-East Asia.

These are Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal. On 6th June, 1997, it was formed in Bangkok and given the name BISTEC (Bangladesh, India, Sri Lanka and Thailand Economic Cooperation).

In the first summit on 31st July, 2004, leaders of the group agreed that the name of grouping should be known as the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
Hence, statements 1 and 2 are correct and 3 is incorrect.

8. According to the Companies Act, 2013, ‘nominal capital’ implies [Morning Shift-2014 (I)]

Correct Answer: (b) the maximum amount of share capital of a company
Solution:

According to the Companies Act, 2013 ‘authorised capital’ or ‘nominal capital’ refers to such capital as is authorised by the memorandum of a company to be the maximum amount of share capital of the company.
Hence option (b) is correct.

9. Which of the following is/are the objective(s) of ‘Mahatma Gandhi Pravasi Suraksha Yojana’? To encourage and enable the overseas Indian workers by giving government contribution to [Morning Shift-2014 (I)]

1. save for their return and resettlement.
2. save for their old age.
3. obtain a life insurance cover against natural death for the entire life of the worker. Select the correct answer using the codes given below

Correct Answer: (b) 1 and 2
Solution:

Mahatma Gandhi Pravasi Suraksha Yojana is a Special Social Security Scheme which includes Pension and Life Insurance. It has been introduced by Ministry of Overseas Indian Affairs for the overseas Indian workers in possession of Emigration Check Required (ECR)passports. It is a voluntary scheme designed to help workers to meet their three financial needs:
● saving for retirement
● saving for their return and resettlement
● providing free life insurance offering coverage for death from natural causes Since the insurance cover is only for the period of coverage, statement 3 is incorrect.

10. ‘Inclusive growth’ is a phrase used in India’s [Morning Shift-2014 (I)]

1. 9th Plan
2. 10th Plan
3. 11th Plan
4. 12th Plan
Select the correct answer using the codes given below

Correct Answer: (c) 3 and 4
Solution:

The Slogan of 11th Five Year Plan was ‘Inclusive and sustainable growth’ and the slogan of 12th Five Year Plan is ‘Faster, more inclusive and sustainable growth’.
Hence, option (c) is correct.