1. With reference to the Asian Infrastructure Investment Bank (AIIB), consider the following statements :
1. AIIB has more than 80 member nations.
2. India is the largest shareholder in AIIB.
3. AIIB does not have any members from outside Asia.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
[I.A.S. (Pre) 2019]
Ans. (a) 1 only
- The Asian Infrastructure Investment Bank (AIIB) is based in Beijing and was established in 2016 to help better the lives of people in Asia.
- As of January 2022, 89 countries have joined the AIIB, and 16 more are on the way. China is the biggest shareholder, and India is in second place.
- Other countries from outside of Asia such as Austria, Belgium, Finland, Canada, France, Germany, Egypt, and the UK are also part of the AIIB.
- This means that statement 1 is correct.
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2. Where was the first World Summit on Social Development under the aegis of UNESCO held?
(a) London
(b) New York
(c) Paris
(d) Copenhagen
[U.P.P.C.S. (Pre) 2017]
Ans. (d) Copenhagen
- In 1995, the United Nations Educational, Scientific and Cultural Organization (UNESCO) held the first World Summit for Social Development in Copenhagen.
- At the summit, governments agreed that people should be the main focus of development.
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3. How many countries are members of the World Bank?
(a) 189
(b) 181
(c) 164
(d) 193
[Uttarakhand P.C.S. (Pre) 2016]
Ans. (a) 189
- The World Bank is an international organization that gives money in the form of loans and grants to governments in countries with low and middle incomes.
- It was created at the 1944 Bretton Woods Conference, alongside the International Monetary Fund (IMF).
- Nowadays, 189 countries are members of the World Bank (IBRD).
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4. The International Development Association, a lending agency, is administered by the :
(a) International Bank for Reconstruction and Development
(b) International Fund for Agricultural Development
(c) United Nations Development Programme
(d) United Nations Industrial Development Organization
[I.A.S. (Pre) 2010]
Ans. (a) International Bank for Reconstruction and Development
- The International Development Association (IDA) is a part of the World Bank group which is managed by the International Bank for Reconstruction and Development (or World Bank).
- It helps the poorest countries by offering financial aid on favourable terms.
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5. The Global Infrastructure Facility is a/an :
(a) ASEAN initiative to upgrade infrastructure in Asia and financed by credit from the Asian Development Bank
(b) World Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital
(c) Collaboration among the major banks of the world working with the OECD and focused on expanding the set of infrastructure projects that have the potential to mobilize private investment
(d) UNCTAD-funded initiative that seeks to finance and facilitate infrastructure development in the world
[I.A.S. (Pre) 2017]
Ans. (b) World Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital
- The Global Infrastructure Facility (GIF) is a platform put together by the World Bank, which makes it easier for governments and private companies to come together and get private money for investing in infrastructure in developing countries.
- The GIF platform brings together the World Bank, private investors, and governments to work together to make investments in infrastructure.
- It was established by the World Bank group in October, 2014.
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6. ‘World Development Report’ is an annual publication of :
(a) United Nations Development Programme
(b) International Bank for Reconstruction and Development
(c) World Trade Organisation
(d) International Monetary Fund
[I.A.S. (Pre) 2002, U.P.P.C.S. (Spl.) (Mains) 2004]
Ans. (b) International Bank for Reconstruction and Development
- Every year, the World Bank (also known as the International Bank for Reconstruction and Development) puts out a report called the World Development Report.
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7. The theme of the World Development Report 2001 is:
(a) From Plan to Market
(b) Knowledge for Development
(c) Attacking Poverty
(d) The State in the Changing World
[I.A.S. (Pre) 2001, Chhattisgarh P.C.S. (Pre) 2003]
Ans. (c) Attacking Poverty
- The main focus of the World Development Report in 2001 was to reduce poverty by providing people with opportunities, power, and safety.
- In 2021, the theme of the Report was ‘Data for Better Lives’; and the theme for 2022 is ‘Finance for an Equitable Recovery’.
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8. According to the World Development Report, low income economics are those for which the per capita GNP in 1994 was:
(a) US $ 925 or less
(b) US $ 825 or less
(c) US $ 725 or less
(d) US $ 525 or less
[I.A.S. (Pre) 1998]
Ans. (c) US $ 725 or less
- The World Bank divides the world’s economies into four income groups: low, lower-middle, upper-middle, and high.
- These groups are updated every year on July 1 and are based on the Gross National Income (GNI) of each country in the US dollars of the previous year.
- For 2021, the following are the thresholds for each group: low income is less than 1,046 USD, lower-middle income is between 1,046 and 4,095 USD, upper-middle income is between 4,096 and 12,695 USD, and high income is greater than 12,695
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9. As per the World Development Report 2000, the highest Per Capita Income is in:
(a) Luxembourg
(b) Switzerland
(c) Norway
(d) Japan
[U.P.P.C.S.(Pre) 2001, 2003]
Ans. (a) Luxembourg
- Luxembourg had the highest Per Capita GDP in 2000 ($44640).
- In 2020, it still had the highest Per Capita Income based on Purchasing Power Parity (data for Liechtenstein is not available).
- In 2019, Macao SAR was the highest.
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10. Which one of the following is not a sub-index of the World Bank’s ‘Ease of Doing Business Index’?
(a) Maintenance of law and order
(b) Paying taxes
(c) Registering property
(d) Dealing with construction permits
[I.A.S. (Pre) 2019]
Ans. (a) Maintenance of law and order
- The World Bank’s “Ease of Doing Business Index” was based on 10 different aspects: starting a business, getting permits for construction, obtaining electricity, registering property, getting credit, protecting minority investors, paying taxes, trading internationally, enforcing contracts and resolving bankruptcy.
- Maintaining law and order was not included in these areas.
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11. In ‘Ease of Doing Business Report’ published by World Bank on 31th October, 2017, India has been placed at which rank?
(a) 130
(b) 120
(c) 110
(d) 100
[U.P.P.S.C.(GIC) 2017]
Ans. (d) 100
- In 2017, India jumped from 130th to 100th place out of 190 countries in the World Bank’s ‘Ease of Doing Business Report’.
- In 2019, India was placed at 63rd position, which was 14 places higher than 2018’s 77th position.
- However, in 2021 the World Bank declared that it would no longer be publishing the report.
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12. India’s ranking in the ‘Ease of Doing Business Index’ is sometimes, seen in the news. Which of the following has declared that ranking?
(a) OECD
(b) WEF
(c) World Bank
(d) WTO
[I.A.S. (Pre) 2016]
Ans. (c) World Bank
- The World Bank created an index called the Ease of Doing Business Index every year.
- It rated countries based on how much they had done to make it easier to do business.
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13. The ‘Ease of Doing Business Index’ prepared and published by :
(a) World Trade Organization
(b) World Bank Group
(c) United Nations
(d) European Union
(e) None of the above/More than one of the above
[60th to 62nd B.P.S.C. (Pre) 2016]
Ans. (b) World Bank Group
- The World Bank published the Ease of Doing Business Index every year.
- This index ranked countries based on the improvements they made to make trading easier.
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14. With reference to the World Bank’s Ease of Doing Business Report, which of the following statement(s) is/are correct?
1. In Ease of Doing Business Report 2020, India’s rank is 63.
2. India’s ranking for Ease of Doing Business in the year 2019 was 77.
Select the correct answer from the codes given below:
Codes :
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
[U.P. P.C.S. (Pre) 2020]
Ans. (c) Both 1 and 2
- According to the World Bank’s 2020 Ease of Doing Business Report, India moved up 14 spots to 63rd place out of 190 countries.
- Last year, India was ranked 77th.
- The top 3 countries for this report were New Zealand, Singapore, and Hong Kong.
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15. According to the Ease of Doing Business Report, 2020, India improved their rank from :
(a) 77 in previous year to 63rd position
(b) 130 in previous year to 100th position
(c) 100 in previous year to 77th position
(d) 77 in previous year to 67th position
(e) None of the above / More than one of the above
[66th B.P.S.C. (Pre) 2020]
Ans. (a) 77 in previous year to 63rd position
- According to the World Bank’s Ease of Doing Business Report 2020, India moved up 14 spots to be 63rd out of 190 countries.
- Last year, India was 77th.
- The top 3 countries in the 2020 report were New Zealand, Singapore, and Hong Kong.
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16. Which two States have been jointly ranked first in the ease of doing business ranking issued by the World Bank and DIPP in October 2016?
(a) Gujarat and Telangana
(b) Telangana and Chhattisgarh
(c) Gujarat and Andhra Pradesh
(d) Andhra Pradesh and Telangana
[M.P.P.C.S. (Pre) 2018]
Ans. (d) Andhra Pradesh and Telangana
- In 2016, Andhra Pradesh and Telangana were the top two states in the World Bank and DIPP’s rankings for ease of doing business.
- In 2018, Andhra Pradesh was again in the lead, followed by Telangana and Haryana.
- In 2019, Andhra Pradesh came out on top again, and Telangana and Uttar Pradesh were second and third.
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17. Which one of the following issues on which the ‘Global Economic Prospects’ report periodically?
(a) The Asian Development Bank
(b) The European Bank for Reconstruction and Development
(c) The US Federal Bank
(d) The World Bank
[I.A.S. (Pre) 2015]
Ans. (d) The World Bank
- The World Bank Group publishes a report twice a year called ‘Global Economic Prospects’ which looks at the economy globally, with special attention paid to emerging markets and developing countries.
- It is released in January and June each year.
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18. Which one among the following countries has lowest GDP per capita?
(a) China
(b) India
(c) Indonesia
(d) Sri Lanka
[I.A.S. (Pre) 2003]
Ans. (b) India
- In 2020, India had the lowest per capita GDP compared to China, Indonesia, and Sri Lanka, according to the World Bank.
- The per capita GDP (in current US dollars) for each country was China – 17312.0, Sri Lanka – 13225.4, Indonesia – 12073.5, and India – 6454.3.
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19. The second largest economy in the world next to the USA is :
(a) China
(b) Germany
(c) Japan
(d) United Kingdom
[U.P.P.C.S. (Mains) 2005]
Ans. (a) China
- In 2005, Japan had the second largest economy after the US.
- However, according to the World Bank’s 2020 data, India has now become the third largest economy in the world after China and the US when you look at purchasing power parity (PPP).
- The six largest economies in 2020 based on GDP (current US dollar) are the US, China, Japan, Germany, the UK and India.
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20. Which one of the following countries is the third largest economy of the world ?
(a) Japan
(b) Malaysia
(c) India
(d) China
[U.P.P.C.S. (Mains) 2007]
Ans. (a) Japan
- According to the World Bank, in 2007 China was the 3rd biggest economy in the world based on their GDP.
- However, as of 2020, Japan is 3rd largest after the US and China.
- India is 3rd biggest based on their Purchasing Power Parity (PPP) after the US and China.
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21. According to the World Bank’s development report, the position of the Indian economy in the world is the :
(a) Largest
(b) Smallest
(c) Second Largest
(d) Fifth Largest
[48th to 52nd B.P.S.C. (Pre) 2008]
Ans. (*)
- None of the answers given were correct for the question.
- The World Bank’s World Development Report 2008 showed that India was the fourth largest economy based on purchasing power parity.
- In 2019, the World Bank’s data showed that India had surpassed the UK to become the fifth largest economy (after the US, China, Japan, and Germany) based on nominal GDP, but India was pushed back to being the sixth largest economy in 2020 due to the impact of the COVID-19 pandemic.
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22. Measured in terms of Purchasing Power Parity, Indian economy continues to be the 4th largest country in the world. The first three positions are occupied by :
(a) USA, Japan, China
(b) Japan, China, USA
(c) USA, UK, Japan
(d) USA, China, Japan
[U.P.P.C.S. (Mains) 2009]
Ans. (*)
- In 2009, the biggest economies in the world measured by Purchasing Power Parity (PPP) were the USA, China, Japan and India.
- Today, in 2020, the top four economies by PPP are China, the USA, India and Japan.
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23. In terms of PPP the Indian economy’s rank in the world is :
(a) 2nd
(b) 4th
(c) 6th
(d) 10th
[U.P.P.C.S. (Mains) 2005]
Ans. (*)
- At the time of the question period, India was the fourth largest economy in the world using Purchasing Power Parity (PPP).
- In 2011, India became the third largest economy in the world by PPP.
- Currently, India is still the third largest economy in the world after China and the United States.
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24. Consider the following statements :
1. Purchasing Power Parity (PPP) exchange rates are calculated by comparing the prices of the same basket of goods and services in different countries.
2. In terms of PPP dollars, India is the sixth largest economy in the world.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
[I.A.S. (Pre) 2019]
Ans. (a) 1 only
- Purchasing Power Parity (PPP) is a way to compare the economic productivity and quality of life between countries.
- This is done by comparing the prices of the same basket of goods and services in different countries.
- According to PPP, exchange rates are balanced when the purchasing power is equal in both countries.
- China is currently the largest economy in terms of PPP dollars (in 2018 and 2020).
- India is the sixth largest economy in 2020 when looking at nominal GDP, with the USA, China, Japan, Germany and the UK rounding out the top five.
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25. According to American based think tank Population Review Report 2020, which of the following statements is/are correct?
1. India’s GDP in 2019 was Rs. 209 lakh crore.
2. India emerged as fifth largest economy of the world.
3. India overtook countries like Britain and France.
Select the correct answer using codes given below :
Codes:
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3 correct
[U.P. R.O./A.R.O. (Re-Exam) (Pre) 2016]
Ans. (d) 1, 2 and 3 correct
- The World Bank and Population Review Report 2020 found that India’s GDP in 2019 was around 209 lakh crore rupees.
- India was the fifth biggest economy in the world that year, ranking higher than Britain and France.
- But due to the effects of the coronavirus pandemic, India was pushed back to being the sixth-largest economy in 2020.
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26. As per World Development Report of the World Bank, 2008 arrange the following countries according to the size of their economy in descending order. State which one of the following is the correct order :
(a) China > USA > UK > India
(b) UK > China > USA > India
(c) USA > China > UK > India
(d) China > UK > USA > India
[U.P.P.C.S. (Mains) 2009, U.P. Lower Sub. (Spl.) (Pre) 2008]
Ans. (c) USA > China > UK > India
- The World Development Report 2008 showed that the USA had the highest nominal GDP, followed by China, the UK, and India.
- However, India overtook the UK in 2019 to become the fifth biggest economy in the world (after the USA, China, Japan, and Germany) in terms of its nominal GDP, measured in US Dollars.
- But in 2020, India dropped back to sixth place, with the UK moving back ahead.
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27. Consider the following statements:
Most international agencies which fund development programs in India on intergovernmental bilateral agreements, mainly provide :
1. Technical assistance
2. Soft loans which are required to be paid back with interest
3. Grants, not required to be paid back
4. Food assistance to alleviate poverty
Of these statements :
(a) 2 and 4 are correct
(b) 1, 2 and 3 are correct
(c) 1, 2, and 4 are correct
(d) 3 and 4 are correct
[I.A.S. (Pre) 1996]
Ans. (b) 1, 2 and 3 are correct
- India receives both short and long-term help from international agencies, such as the World Bank and ADB, through agreements with the government.
- This help includes technical aid, loans with low-interest rates, and grants.
- Food aid to reduce poverty is not part of these agreements.
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28. Loan and grants, for the improvement of infrastructure of States in India have been given by which one of the following institutions?
(a) World Bank
(b) World Economic Forum
(c) International Monetary Fund
(d) World Trade Organisation
[U.P. Lower Sub. (Pre) 2002]
Ans. (a) World Bank
- In 1958, the Aid-India Consortium was created as part of a global program to help India’s economy grow.
- This organization is now called the Indian Development Forum.
- The World Bank is in charge of this program and they give out long-term loans to help build infrastructure such as roads and water systems.
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29. Indian Development Forum (IDF) was earlier known as :
(a) Aid India Consortium
(b) Aid India Bank
(c) World Bank
(d) None of the above
[48th to 52nd B.P.S.C. (Pre) 2008]
Ans. (a) Aid India Consortium
- In 1958, the World Bank created the ‘Aid-India Consortium’ to help India’s economic growth.
- This was later known as the ‘Indian Development Forum’.
- The World Bank gives out long term loans to help improve India’s infrastructure, like building roads and providing access to water.
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30. Which one of the following Indian States has recently signed a $ 220 million agreement with the World Bank?
(a) Bihar
(b) Kerala
(c) Maharashtra
(d) Tamil Nadu
[U.P.P.C.S (Pre) 2011]
Ans. (a) Bihar
- On January 12, 2011, the World Bank signed an agreement worth 220 million dollars with the Bihar government for the Bihar Kosi Recovery Project.
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31. World Bank has announced the approval of loans and concessional credit of $ 600 million in 2007 to India for beefing up its :
(a) Rural Cooperative Structure
(b) Agriculture Production
(c) Urban Infrastructure Development
(d) Rural Electrification
[R.A.S./R.T.S.(Pre) 2007]
Ans. (a) Rural Cooperative Structure
- On November 2, 2007, the World Bank made a deal with India’s government to help develop rural cooperatives.
- The World Bank offered to lend India 600 million dollars over a period of 4 years.
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32. The World Bank has recently sanctioned a loan of 944 million dollars to India, for which of the following sectors, the loan is not meant for?
(a) Rural finance system
(b) Vocational Training Programmes
(c) Community-based water management projects
(d) Rural roads and sanitation
[U.P.P.C.S. (Mains) 2007]
Ans. (d) Rural roads and sanitation
- On November 2, 2007, the World Bank gave India 944 million dollars to help improve their rural finance system, training programs, and water management projects.
- Rural roads and sanitation were not included in this.
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33. The ‘National Agricultural Innovation Project’ is being implemented by ICAR with credit assistance from the World Bank. It has got how many components?
(a) Only one component
(b) Two components
(c) Three components
(d) Four components
[U.P.P.C.S. (Pre) 2009]
Ans. (d) Four components
- In 2006, the Indian Council of Agriculture Research (ICAR) began the National Agricultural Innovation Project (NAIP) with the help of the World Bank.
- This project was carried out through four different parts. ICAR (Indian Council of Agricultural Research) helps manage changes in India’s National Agricultural Research System.
- Research is conducted on production to consumption systems using a value-chain approach.
- Research is also conducted on sustainable rural livelihood security, sustainable land and ecosystem management, and frontier areas of agricultural science.
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34. ‘Green Index’ has been developed by :
(a) United Nations Environment Programme
(b) International Monetary Fund (IMF)
(c) World Bank
(d) None of the above
[U.P.P.C.S. (Pre) 2014]
Ans. (c) World Bank
- In 2009, the World Bank launched the Green Index, a first-of-its-kind stock market index that lets investors monitor how well companies in developing nations are doing in terms of their Carbon efficiency.
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35. Which of the following constitute the World Bank?
1. International Bank for Reconstruction and Development
2. International Finance Corporation
3. International Development Association
4. International Monetary Fund
Codes :
(a) 1, 2 and 3
(b) 1, and 2
(c) 3 and 4
(d) 1, 2, 3 and 4
[I.A.S. (Pre) 1995]
Ans. (a) 1, 2 and 3
- The World Bank Group is a group of five different organizations.
- These are: IBRD, IDA, IFC, MIGA, and ICSID, which were created in 1944, 1960, 1956, 1988, and 1966 respectively.
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36. The World Bank was established in :
(a) 1945
(b) 1956
(c) 1960
(d) 1988
[M.P.P.C.S. (Pre) 2006, Uttarakhand U.D.A./L.D.A. (Pre) 2007]
Ans. (a) 1945
- The World Bank (IBRD) was established at the 1944 Bretton Woods Conference (United Nations Monetary and Financial Conference) along with the IMF.
- Its rules and members officially started on December 27, 1945.
- Its main office is located in Washington, D.C.
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37. The headquarters of the World Bank are at :
(a) Manila
(b) Washington
(c) New York
(d) Geneva
[U.P.P.C.S. (Mains) 2007]
Ans. (b) Washington
- The World Bank (IBRD) was formed at the 1944 Bretton Woods Conference (United Nations Monetary and Financial Conference) with the IMF.
- Its official rules and membership became active on December 27, 1945.
- The World Bank is based in Washington D.C.
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38. Which one of the following World Bank affiliates, provides assistance for poverty alleviation to the world’s poorest countries?
(a) International Finance Corporation
(b) International Development Association
(c) Multilateral Investment Guarantee Agency
(d) International Monetary Fund
[Uttarakhand P.C.S. (Pre) 2012]
Ans. (b) International Development Association
- The International Development Association (IDA) was created in 1960.
- It is part of the World Bank group and provides loans and grants with no or low interest to the most disadvantaged countries around the world.
- The main goal of the IDA is to reduce poverty by offering financial assistance to countries for projects that will help boost their economy, reduce inequality and improve people’s living conditions.
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39. Regarding International Monetary Fund, which one of the following statements is correct?
(a) It can grant loans to any country
(b) It can grant loans to only developed countries
(c) It grants loans to only member countries
(d) It can grant loans to the Central Bank of a country
[I.A.S. (Pre) 2011, M.P.P.C.S. (Pre) 2017]
Ans. (c) It grants loans to only member countries
- The IMF was established at a meeting in New Hampshire, US in 1944, and officially created in 1945.
- Its main purpose is to make sure the global monetary system is stable.
- It does this by keeping track of the economy of the member countries, lending money to countries with balance of payment issues, and providing them with help.
- The IMF loans are given to help countries manage their finances, stabilize their economies, and get back to growing.
- Any member country, no matter how wealthy or poor, can borrow money from the IMF if they need it.
- Currently, the IMF has 190 countries as members.
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40. The main function of the IMF is to :
(a) arrange international deposits from banks
(b) help to solve balance of payments problems of member countries
(c) act as a private-sector lending arm of the World Bank
(d) finance investment loans to developing countries
[I.A.S. (Pre) 1994]
Ans. (b) help to solve balance of payments problems of member countries
- The IMF was established in 1945 after the United Nations’ Bretton Woods Conference in the U.S.
- Its main goal is to make sure the international monetary system is stable.
- It does this by observing the global and individual member countries’ economies, lending to countries with financial issues and providing help.
- Loans from the IMF are meant to help countries with their balance of payments, economic stability and to get back to a healthy economy.
- Any country, no matter their wealth level, can ask for help from IMF if they have a balance of payments issue.
- Currently, the IMF consists of 190 countries.
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41. International Monetary Fund loans can be used for which of the following purposes?
(a) Project for economic development
(b) To meet temporary deficits in balance of payments
(c) Increasing the gold reserve of the Central banks
(d) Capital formation for Industrial growth
[U.P. R.O. / A.R.O. (Mains) 2016]
Ans. (b) To meet temporary deficits in balance of payments
- The IMF provides loans to its member countries to help them with money issues, economic stability, and long-term economic growth.
- If a country cannot pay its international debts, they can count on the IMF for help.
- The IMF is not a development bank so it does not finance projects like the World Bank and other development agencies.
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42. The Bretton Woods Conference led to the establishment of :
1. I.M.F.
2. I.B.R.D.
3. United Nations
4. W.T.O.
Select the correct answer using codes given below.
Codes :
(a) 1 and 2
(b) 1, 2 and 3
(c) 1 and 3
(d) 1, 2, 3 and 4
[Uttarakhand P.C.S. (Pre) 2012]
Ans. (a) 1 and 2
- In July 1944, 44 countries met in Bretton Woods, New Hampshire (USA) for the ‘United Nations Monetary and Financial Conference’ to decide on a new system for money after World War II.
- As a result, the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD) were created and are referred to as the ‘Bretton Woods twins’.
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43. Which one of the following body is not associated to Bretton Woods institutions?
(a) World Bank
(b) United Nations
(c) World Trade Organisation (WTO)
(d) International Monetary Fund (IMF)
[Jharkhand P.C.S. (Pre) 2021]
Ans. (*)
- The Bretton Woods Conference was a meeting of 44 countries in New Hampshire in 1944 to make new rules for the global economy after World War II.
- The result of the conference was the creation of two organizations, the International Monetary Fund and the International Bank for Reconstruction and Development (also known as the World Bank).
- These two groups are often referred to as the ‘Bretton Woods twins’ because they were both created at the Bretton Woods Conference.
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44. How is the United Nations Monetary and Financial Conference wherein the agreements were signed to set up IBRD, GATT and IMF, commonly known?
(a) Bandung Conference
(b) Bretton Woods Conference
(c) Varsailles Conference
(d) Yalta Conference
[I.A.S. (Pre) 2008]
Ans. (*)
- The Bretten Woods Conference in 1944 created two important global economic institutions – the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (the World Bank).
- The General Agreement on Tariffs and Trade (GATT) was not signed at the conference, but was instead signed by 23 countries in Geneva in 1947.
- The idea for GATT had come from the Bretten Woods Conference, where it was proposed that a third institution called the International Trade Organization (ITO) should be created.
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45. Under which agreement International Monetary Fund was established?
(a) Bretton Woods Agreement
(b) Bretton Stone Agreement
(c) S. Woods Agreement
(d) U. Thant Agreement
[Uttarakhand P.C.S. (Pre) 2012]
Ans. (a) Bretton Woods Agreement
- The International Monetary Fund was created as part of the Bretton Woods Agreement on December 27, 1945.
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46. At present, how many countries are the members of the International Monetary Fund (IMF)?
(a) 188
(b) 189
(c) 187
(d) 190
[M.P.P.C.S. (Pre) 2018]
Ans. (d) 190
- The International Monetary Fund was established in 1945 and now consists of 190 countries.
- Its purpose is to help countries cooperate financially, make sure economies are stable, help with international trade, create jobs, support economic growth, and reduce poverty.
- In October 2020, the Principality of Andorra became the 190th member of the IMF.
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47. When did India become a member of the International Monetary Fund?
(a) 1952
(b) 1950
(c) 1947
(d) 1945
[U.P.P.C.S. (Pre) 2004]
Ans. (d) 1945
- India was one of the original members of the International Monetary Fund (IMF) and the World Bank since 1945.
- The country of Andorra recently joined the IMF as the 190th member on October 16, 2020.
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48. India became a member of International Monetary Fund in :
(a) 1952
(b) 1951
(c) 1950
(d) 1947
[U.P.P.C.S. (Mains) 2015]
Ans. (*)
- India was one of the first countries to join the International Monetary Fund (IMF) and the World Bank in 1945.
- Andorra became the 190th member of the IMF in 2020.
|
49. Gold Tranche (Reserve Tranche) refers to:
(a) a loan system of the World Bank
(b) one of the operations of a Central Bank
(c) a credit system granted by WTO to its members
(d) a credit system granted by IMF to its members
[I.A.S. (Pre) 2020]
Ans. (d) a credit system granted by IMF to its members
- The reserve tranche is an amount of money that IMF members can access without any conditions or fees at any time.
- It is made up of part of their subscription to the IMF and can be increased or decreased depending on IMF lending of their currency.
- Before 1978, this amount was also known as the gold tranche and was paid in without any interest.
- It is usually 25% of the quota.
|
50. The term ‘paper gold’ refers to :
(a) Special Drawing Rights (SDR) of IMF
(b) Special Accommodation Rights
(c) Currencies pegged to gold
(d) None of the above
[Chhattisgarh P.C.S. (Pre) 2020]
Ans. (a) Special Drawing Rights (SDR) of IMF
- Paper gold’ is another name for the Special Drawing Rights (SDR) of the IMF.
- Member countries of the IMF can use SDRs as part of their foreign currency and gold reserves, and also to pay for things that need foreign currency.
- The IMF gives SDRs to it’s members as loans, and these SDRs are also seen as a currency, so they are sometimes called ‘paper gold’.
|
51. The term ‘Paper Gold’ means
(a) Special Drawing Rights of the IMF
(b) Special accomodation facility of the World Bank
(c) Currencies still on Gold standard
(d) Deficit financing
[U.P.P.C.S. (Mains) 2002, 2004]
Ans. (a) Special Drawing Rights of the IMF
- Special Drawing Rights, also known as ‘paper gold’, are assets that the International Monetary Fund gives to its member countries.
- It is a type of foreign currency that can be used to make payments that need foreign exchange.
- It is a type of currency accepted by the IMF, and is often referred to as “paper gold”.
|
52. Recently, which one of the following currencies has been proposed to be added to the basket of IMF’s SDR?
(a) Rouble
(b) Rand
(c) Indian rupee
(d) Renminbi
[I.A.S. (Pre) 2016]
Ans. (d) Renminbi
- The SDR is an international asset created by the IMF in 1969 to help its member countries with their official reserves.
- This was originally linked to gold, but after the Bretton Woods System ended in 1973 it was changed to be a group of different currencies.
- Every five years, the IMF examines the SDR basket and in 2015 they decided that the Chinese Yuan (renminbi) met the criteria to join the SDR group.
- This happened on October 1, 2016, alongside the US dollar, euro, Japanese yen, and British pound sterling.
- In 2021 the next review of the SDR was delayed until 2022, resetting the five-year cycle of reviews.
|
53. Which of the following organizations brings out the publication known as ‘World Economic Outlook’?
(a) The International Monetary Fund
(b) The United Nations Development Programme
(c) The World Economic Forum
(d) The World Bank
[I.A.S. (Pre) 2014, 66th B.P.S.C. (Pre) (Re-Exam) 2020]
Ans. (a) The International Monetary Fund
- The IMF publishes the ‘World Economic Outlook’ twice a year and partially updates it twice as well.
- The UNDP publishes the ‘Human Development Report’ and the World Bank publishes the ‘World Development Report’, while the World Economic Forum releases the ‘Global Competitiveness Report’.
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54. ‘Global Finance Stability Report’ is prepared by the :
(a) European Central Bank
(b) International Monetary Fund
(c) International Bank for Reconstruction and Development
(d) Organization for Economic Cooperation and Development
[I.A.S. (Pre) 2016]
Ans. (b) International Monetary Fund
- The International Monetary Fund (IMF) releases the Global Financial Stability Report twice a year in April and October.
- The report looks at the global financial system and markets, and examines how emerging market borrowers can access finance.
- It also focuses on current market conditions and any risks that could threaten financial stability.
|
55. In October 2018, which Economist has been appointed as Economic Counsellor and Director of the IMF’s Research Department?
(a) Raghuram Rajan
(b) Geeta Gopinath
(c) Y.M. Deosthalee
(d) C. Rangarajan
[Chhattisgarh P.C.S. (Pre) 2018]
Ans. (b) Geeta Gopinath
- Gita Gopinath, an Indian professor from Harvard University, was appointed to the International Monetary Fund (IMF) as their Economic Counsellor and Research Director (Chief Economist) in 2018.
- She officially took office in 2019 and is currently the First Deputy Managing Director of the IMF, a position she has held since 2021.
|
56. The main security guard of international trade is :
(a) WTO
(b) World Bank
(c) IMF
(d) IFC
[U.P.P.C.S. (Mains) 2017]
Ans. (a) WTO
- The WTO is the biggest organization that looks after international trading between countries.
- It started on January 1, 1995 and replaced the GATT.
|
57. WTO is :
(a) A part of IMF
(b) A part of UNO
(c) An American trade organisation
(d) An international trade organization established by the members of GATT
[U.P.P.C.S. (Spl.) (Pre) 2008]
Ans. (d) An international trade organization established by the members of GATT
- The World Trade Organization (WTO) is responsible for making sure international trade runs smoothly.
- It’s the biggest economic organization of its kind and was created in 1995 when the Marrakesh Agreement was signed, replacing the General Agreement on Tariffs and Trade (GATT).
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58. The earlier name of the WTO was :
(a) UNCTAD
(b) GATT
(c) UNIDO
(d) OECD
[I.A.S. (Pre) 2001]
Ans. (b) GATT
- The WTO was formed in 1995 to replace the GATT, which had been created by 23 countries in 1947 after the end of World War II.
- GATT was created to make international trading more simple.
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59. The headquarters of W.T.O. is located at
(a) Geneva
(b) Paris
(c) Rome
(d) New York
[Uttarakhand P.C.S. (Pre) 2005, U.P.P.C.S. (Mains) 2015, U.P.R.O./A.R.O. (Mains) 2014]
Ans. (a) Geneva
- The main office of W.T.O. is in Geneva, Switzerland.
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60. Consider the following statements:
The Ministerial Meeting of WTO held in December 1999 was unsuccessful because it attempted to link trade with:
1. labour related issues
2. environment related issues
3. terrorism related issues
4. debt related issues
Which of these statements are correct?
(a) 1, 3 and 4
(b) 1 and 2
(c) 2 and 3
(d) 2 and 4
[IA.S. (Pre) 2000]
Ans. (b) 1 and 2
- The 3rd Ministerial Conference of the World Trade Organization (WTO) was held in Seattle, Washington, USA from November 30th to December 3rd 1999.
- The EU and the USA, two of the main economic powers at the conference, presented ideas for the future development of “labour standards” and “environment-related issues”.
- Developing countries disagreed with connecting labour and environmental standards to the WTO system and wanted existing agreements and commitments to be fulfilled.
- Since negotiations failed on topics such as agriculture, services, and intellectual property, the delegates could not agree on the agenda.
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61. One of the important agreements reached in the 1996 Ministrial Conference of WTO refers to:
(a) Commerce in Information Technology
(b) Multilateral Agreement on Investment
(c) Multi-fibre Agreement
(d) Exchange of technical personnel
[I.A.S. (Pre) 1997]
Ans. (a) Commerce in Information Technology
- The first meeting of the World Trade Organization (WTO) took place in Singapore from 9th to 13th December 1996.
- This was the first time the WTO had been in effect since 1st January 1995.
- At this meeting, the member countries agreed to increase international trade in information technology products.
- Additionally, four permanent working groups were set up during the conference.
- These groups collectively are called the Singapore issues.
- Buying and selling, investing and competing, making sure government buying is done in an open way and making it easier to do business are all part of the Singapore issues.
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62. Doha, where Ministerial Conference of World Trade Organization was organized, is located in :
(a) Bahrain
(b) Kuwait
(c) Qatar
(d) Saudi Arabia
[U.P. Lower Sub. (Pre) 2002]
Ans. (c) Qatar
- In 2001, a meeting of the World Trade Organization (WTO) was held in Doha, Qatar, where the leaders of all WTO countries started the Doha Development Agenda.
- The 12th WTO Ministerial Conference was supposed to be in Kazakhstan in 2020, but it was delayed due to the coronavirus pandemic.
- Now, it is scheduled to happen in June 2022 in Geneva, Switzerland.
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63. As regards the use of international food safety standards as reference point for the dispute settlements, which one of the following does WTO collaborates with?
(a) Codex Alimentarius Commission
(b) International Federation of Standards Users
(c) International Organization for Standardization
(d) World Standards Cooperation
[I.A.S. (Pre) 2010]
Ans. (a) Codex Alimentarius Commission
- The WTO works with the Codex Alimentarius Commission (CAC) to use international food safety standards as a basis for resolving disputes.
- Established in 1963 by FAO and WHO, the CAC creates food standards, guidelines and codes of practice to protect the health of consumers and ensure fair practices in the food trade.
- The CAC also coordinates any food standards work being done by international governmental and non-governmental organizations.
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64. Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?
1. Promotion of free trade and resource flows across countries
2. Protection of intellectual property rights
3. Managing balanced trade between different countries
4. Promotion of trade between the former East Bloc countries and the western world
Select the correct answer by using the codes given below:
(a) 1,2,3, and 4
(b) 1 and 2
(c) 2 and 3
(d) 1 and 4
[I.A.S. (Pre) 1996]
Ans. (a) 1,2,3, and 4
- The WTO was created to make it easier for countries to do international trade.
- It started in 1995 and helps countries negotiate agreements that reduce or get rid of tariffs, quotas, and other limits on trade.
- All of this was the goal when the WTO was formed.
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65. The World Trade Organization was established in :
(a) 1993
(b) 1994
(c) 1995
(d) 1996
[U.P.P.C.S. (Pre) 1996, Uttarakhand P.C.S. (Pre) 2002]
Ans. (c) 1995
- The WTO was created in 1995 to make it easier for countries to trade with each other.
- It works to reduce taxes, limits, and other barriers so that it is easier for them to buy and sell goods, services, and ideas.
- All of these goals were the reason why the WTO was formed.
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66. As President of World Trade Organization Pascal Lamy was replaced by :
(a) Christine Lagarde
(b) Jim Young Kim
(c) Roberto Azevedo
(d) Takehiko Nakao
[U.P.P.C.S. (Pre) 2014]
Ans. (c) Roberto Azevedo
- Roberto Azevedo of Brazil became the 6th Director-General of WTO in 2013 and was re-elected for a second term in 2017.
- On 15 February, 2021, the WTO members made history by selecting Ngozi Okonjo-Iweala of Nigeria as the organization’s seventh Director-General.
- Ngozi became the first woman and the first African to hold this position, with her term ending in 2025.
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67. India became a member of WTO (World Trade Organization) in the year :
(a) 1995
(b) 1996
(c) 1997
(d) 1998
[Uttrakhand U.D.A./L.D.A. (Mains) 2007]
Ans. (a) 1995
- India has been part of the World Trade Organization since 1995 and the General Agreement on Tariffs and Trade since 1948.
- Currently, the WTO has 164 members and 25 observer governments, with Afghanistan joining as the 164th member in 2016.
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68. Which one among the following countries recently joined World Trade Organization as the 147th member :
(a) Nepal
(b) Bhutan
(c) Uganda
(d) Belgium
[U.P.P.C.S. (Mains) 2003]
Ans. (a) Nepal
- Nepal joined the World Trade Organization as the 147th member on April 23, 2004.
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69. Which one of the following is not a member of the World Trade Organization?
(a) Slovenia
(b) Serbia
(c) Slovakia
(d) Colombia
[U.P.P.C.S. (Mains) 2016]
Ans. (b) Serbia
- Out of the countries mentioned, Serbia is not a part of the World Trade Organization (WTO).
- Right now, Serbia is only allowed to observe the WTO.
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70. What is not true about the World Trade Organization (WTO)?
(a) It was established on 1 January 1995
(b) It encourages trade among member countries
(c) It originated from the Uruguay Round of multilateral trade agreements
(d) It has brought liberalization in trade
[U.P.P.C.S. (Mains) 2002]
Ans. (d) It has brought liberalization in trade
- The World Trade Organization (WTO) was founded on 1 January 1995 to manage and promote international trade between its member countries.
- The Uruguay Round (1986-93) of the General Agreement on Tariffs and Trade (GATT) lead to the formation of the WTO.
- Its main goal is to liberalize global trade, but this has yet to be achieved.
- The failure of the Doha Round has stalled multilateral trade liberalization for the foreseeable future.
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71. The central issue in Doha Round of talks of World Trade Organization was :
(a) Issues related to agriculture
(b) Export from developing countries
(c) Trade in services
(d) Intellectual Property Rights related to trade
[Uttarakhand P.C.S. (Pre) 2010]
Ans. (a) Issues related to agriculture
- The Doha Round is the newest set of talks between the members of the World Trade Organization.
- Its goal is to reduce barriers to trade and update the trading rules.
- It began at the 4th Ministerial Conference of the WTO in Doha, Qatar in 2001.
- The main focus is on the subsidies given to farmers and the rules around importing agriculture products.
- This is especially important for developing countries, making it the most important and contentious topic.
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72. Which one of the following is not included in the main three pillars of the ‘Agreement on Agriculture’ under the World Trade Organization?
(a) Market access
(b) Domestic support
(c) Export competition
(d) Anti-dumping and compensatory duties
[U.P. U.D.A./L.D.A. (Spl.) (Pre) 2010]
Ans. (d) Anti-dumping and compensatory duties
- The Agreement on Agriculture is a WTO treaty that was created during the Uruguay Round of GATT and took effect when the WTO began in 1995.
- It does not include antidumping and compensatory duties.
- The three main parts of the Agreement on Agriculture are market access, domestic support, and reducing export subsidies.
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73. The difference of the Government Minimum Support Price (MSP) and market price, which is paid directly to the farmers under W.T.O. is called :
(a) Blue box subsidies
(b) Green box subsidies
(c) Yellow box subsidies
(d) Pink box subsidies
[U.P. R.O./A.R.O. (Re-Exam) (Pre) 2016]
Ans. (a) Blue box subsidies
- The World Trade Organization (WTO) categorizes subsidies into three categories: green (allowed), amber (need to be reduced) and red (forbidden).
- The Agreement on Agriculture (AoA) has green, amber and blue boxes. Subsidies that do not affect trade are in the green box and are allowed.
- Examples of this are income support for farmers, environmental protection, research funding, etc.
- The amber box has subsidies related to production and prices, and these are limited to 10% for developing countries.
- The blue box has subsidies that are linked to production but have conditions that help reduce distortion. India’s Minimum Support Price (MSP) system is in the amber box and comes under WTO scrutiny.
- NITI Aayog has suggested the Price Deficiency Payment (PDP) system, which would compensate farmers for the difference between the MSP and the market price and would be in the blue box, with no limit.
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74. In the context of which of the following do you sometimes find the terms ‘amber box’, ‘blue box’ and ‘green box’ in the news?
(a) WTO affairs
(b) SAARC affairs
(d) UNFCCC affairs
(d) India-EU negotiations on FTA
[I.A.S. (Pre) 2016]
Ans. (a) WTO affairs
- At the World Trade Organization (WTO), subsidies are labeled according to their effect on trade: green (allowed), amber (limited) and red (forbidden).
- The Agreement on Agriculture (AoA) has no red box, but instead has green box (allowed subsidies that don’t distort trade), amber box (limited subsidies that can distort trade) and blue box (limited subsidies with conditions).
- India’s Minimum Support Price (MSP) system falls under the amber box category, which has a spending limit of 10%.
- The NITI Aayog has suggested a new Price Deficiency Payment (PDP) system which compensates farmers for the difference between the government-announced MSP and their actual market prices.
- This subsidy would fall under the WTO blue box category, which has no limit on spending.
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75. In the context of the affairs of which of the following is the phrase ‘Special Safeguard Mechanisms’ mentioned in the news frequently?
(a) United Nations Environment Programme
(b) World Trade Organization
(c) ASEAN- India Free Trade Agreement
(d) G-20 Summits
[I.A.S. (Pre) 2010]
Ans. (b) World Trade Organization
- The World Trade Organization has a tool called the Special Safeguard Mechanism (SSM), which lets developing countries increase their tariffs for a certain period of time when there is a sudden increase in imports or drop in prices.
- This gives developing countries extra protection, allowing them to raise tariffs on agricultural products that hurt their domestic farmers.
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76. The Most-Favoured-Nation (MFN) clause under the General Agreement on Tariffs and Trade (GATT) implies :
(a) Most favour to some countries
(b) Most favour to all countries
(c) No favour to any country
(d) No favour to some countries
[I.A.S. (Pre) 1993]
Ans. (b) Most favour to all countries
- A most-favoured-nation clause means that any special privileges or advantages that one country gets in a trade agreement must be offered to all the other countries in the World Trade Organization (formerly the General Agreement on Tariffs and Trade).
- This clause ensures that all countries are treated equally.
- All WTO members must give each other Most-Favored-Nation status.
- However, some countries may get preferential treatment, such as developing countries, regional free trade areas, and customs unions.
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77. GATT stands for :
(a) Geneva Agreement for Trade and Transport
(b) General Agreement on Tariffs and Trade
(c) Guidelines for Assisting Tariffs and Trade
(d) Government Association for Trade and Transport
[U.P.P.C.S. (Pre) 2008]
Ans. (b) General Agreement on Tariffs and Trade
- GATT stands for ‘General Agreement on Tariffs and Trade’ and was signed by 23 countries in Geneva, Switzerland on October 30, 1947.
- The agreement involved reducing tariffs and quotas to make international trade easier.
- The secretariat or headquarters of GATT (now WTO) was also created in Geneva.
- This agreement went into effect on June 30, 1948.
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78. When and where was the office of GATT established?
(a) Paris, 1958
(b) New York, 1948
(c) Rio de Janaerio, 1948
(d) Geneva, 1948
[M.P.P.C.S. (Pre) 2014]
Ans. (d) Geneva, 1948
- The General Agreement on Tariffs and Trade (GATT) was created in 1947 when 23 countries signed the agreement in Geneva, Switzerland.
- This agreement got rid of quotas and tariffs, which made it easier to do international trade.
- The headquarters of GATT (now the World Trade Organization) were set up in Geneva, Switzerland.
- The agreement went into effect on June 30, 1948.
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79. Dunkel proposal is related to :
(a) Devaluation of Indian Rupee
(b) Import of Technical Knowledge
(c) Right to Intellectual Property
(d) Quality of industrial product for the export
[R.A.S. / R.T.S. (Pre) 1992]
Ans. (c) Right to Intellectual Property
- In 1991, Arthur Dunkel proposed a treaty for the Uruguay Round of the General Agreement on Trade and Tariffs (GATT).
- During this round of negotiations, the scope of GATT was extended to include trade in services (GATS), intellectual property rights (TRIPS) and investment measures (TRIMs).
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80. The name of Arthur Dunkel is associated with :
(a) WTO
(b) GATT
(c) OCGC
(d) Exim Bank
[U.P. U.D.A./L.D.A. (Spl.) (Mains) 2010, U.P. U.D.A./L.D.A. (Spl.) (Pre) 2010]
Ans. (b) GATT
- Arthur Dunkel was the head of the GATT from 1980-1993.
- He started the Uruguay Round of international trade talks in 1986 and took the global trading system to the brink of the World Trade Organization.
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81. Which of the following statement/statements about the Dunkel draft is/are correct?
1. It is mandatory for the Government of India to accept all its proposals in all sectors.
2. In the field of agriculture, the main proposal is to cut agricultural subsidies.
3. In the field of textiles, it reiterates the operation of the multi-fibre agreement.
4. The proposals have already been accepted by the Parliament.
Select the correct answer from the codes given below :
(a) Only 1
(b) Only 1 and 2
(c) Only 1, 2 and 4
(d) Only 3 and 4
[I.A.S. (Pre) 1994]
Ans. (c) Only 1, 2 and 4
- Arthur Dunkel’s proposal for the Uruguay Round of GATT was considered to be the last opportunity for progress in this round.
- For textiles, the Dunkel draft did not keep the Multi-Fibre Agreement in place.
- Instead, the Agreement on Textiles and Clothing was negotiated as a replacement for the 1973 Arrangement Regarding International Trade in Textiles.
- The other three statements about the Dunkel draft are correct.
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82. Uruguay round pertains to :
(a) WTO
(b) IMF
(c) GATT
(d) World Bank
[U.P.R.O./A.R.O. (Mains) 2017]
Ans. (c) GATT
- The Uruguay round was an 8-year meeting of 123 countries that was part of the General Agreement on Tariffs and Trade.
- This round ended in the creation of the World Trade Organization.
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83. TRIMs stands for :
(a) Trade-Related Income Measures
(b) Trade-Related Incentives Measures
(c) Trade-Related Investment Measures
(d) Trade-Related Innovative Measures
(e) None of the above/More than one of the above
[63rd B.P.S.C. (Pre) 2017, Uttarakhand P.C.S. (Pre) 2016]
Ans. (c) Trade-Related Investment Measures
- TRIMs is an agreement between WTO members that prevents countries from favoring their own businesses over foreign ones when it comes to trading goods.
- This was negotiated during the Uruguay Round and states that no country can apply any measure that goes against GATT Articles III or XI.
- It is one of the four main agreements of the WTO trade treaty, which was established in 1994 and put into effect in 1995.
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84. With reference to Trade-Related Investment Measures (TRIMs), which of the following statements is/are correct?
1. Quantitative restrictions on imports by foreign investors are prohibited.
2. They apply to investment measures related to trade in both goods and services.
3. They are not concerned with the regulation of foreign investment.
Select the correct answer using the code given below :
(a) 1 and 2 only
(b) 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
[I.A.S. (Pre) 2020]
Ans. (c) 1 and 3 only
- The TRIMs agreement understands that some kinds of investments can limit or distort trade.
- It says that WTO members cannot use any measures that are unfair to foreign products or that limit the amount of items that can be imported, which breaks the WTO rules.
- That means that foreign investors are not allowed to restrict imports.
- Article 1 of the agreement states that it only applies to trading goods, not services.
- The agreement has nothing to do with controlling foreign investments. So statement 3 is true.
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85. Consider the following statements :
1. India has ratified the Trade Facilitation Agreement (TFA) of WTO.
2. TFA is a part of WTO’s Bali Ministerial Package of 2013.
3. TFA came into force in January 2016.
Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
[I.A.S. (Pre) 2017]
Ans. (a) 1 and 2 only
- India agreed to the new Trade Facilitation Agreement (TFA) agreed at the WTO’s 2013 Bali Ministerial Conference in April 2016.
- The TFA helps speed up the moving, delivery, and clearance of goods, including those in transit.
- For the TFA to take effect, two-thirds of WTO members had to accept it. India was the 76th member to do so.
- The TFA was made official in February 2017 after 112 WTO nations ratified it.
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86. The following are the subjects of Trade-Related Intellectual Property Rights related to trade :
1. Trade Marks
2. Industrial designs
3. Geographical Indications
4. Labour Standards
Choose the correct answer from the given codes :
(a) 1
(b) 1 and 2
(c) 1, 2 and 3
(d) All of the above
[U.P. U.D.A./L.D.A. (Pre) 2001]
Ans. (c) 1, 2 and 3
- The World Trade Organization’s (WTO) ‘Trade-Related Aspects of Intellectual Property Rights’ (TRIPS) agreement is the most all-inclusive international agreement on Intellectual Property (IP).
- It is key in helping with trade of knowledge and ideas and solving any disputes related to IP. TRIPS covers different types of Intellectual Property Rights.
- Intellectual Property (IP) covers things like copyrights, trademarks, geographical indications, industrial designs, patents, integrated circuits, and trade secrets.
- It does not include labor standards.
- The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) started on January
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87. Which of the following is not included in TRIPS agreement for granting protection ?
(a) Trade Marks
(b) Layout-Designs of Integrated Circuits
(c) Geographical Indications
(d) Plant Breeding
[U.P. U.D.A./L.D.A. (Spl.) (Pre) 2010]
Ans. (d) Plant Breeding
- Plants cannot be protected by the TRIPS agreement, which does protect Trade Marks, Layout-Designs of Integrated Circuits, Geographical Indications, Patents, Trade Secrets and Copyrights.
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88. With reference to the ‘National Intellectual Property Rights Policy’, consider the following statements :
1. It reiterates India’s commitment to the Doha
Development Agenda and the TRIPS Agreement.
2. The Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
[I.A.S. (Pre) 2017]
Ans. (c) Both 1 and 2
- In May 2016, the Indian government approved a policy called the National Intellectual Property Rights Policy.
- This policy will help determine how intellectual property will be handled in India.
- The policy also shows India’s commitment to its agreements with other countries.
- The Department of Industrial Policy and Promotion (now Department for Promotion of Industry and Internal Trade) will oversee the implementation of the policy.
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89. India enacted The Geographical Indications of Goods (Registration and Protection) Act, 1999 in order to comply with the obligations to :
(a) ILO
(b) IMF
(c) UNCTAD
(d) WTO
[I.A.S. (Pre) 2018]
Ans. (d) WTO
- India’s Parliament passed the Geographical Indications of Goods (Registration and Protection) Act in 1999.
- This law was made to meet the World Trade Organization’s Agreement on Trade-Related Aspects of Intellectual Property Rights.
- Geographical indications are a part of intellectual property rights, as stated in the WTO-TRIPS Agreement.
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90. In order to comply with the TRIPS Agreement, India enacted the Geographical Indications of Goods (Registration and Protection) Act, 1999. The difference/differences between
a ‘Trade Mark’ and a ‘Geographical Indication’ is/are:
1. A trademark is an individual or a company’s right whereas a Geographical Indication is a community’s right.
2. A Trade Mark can be licensed whereas a Geographical Indication cannot be licensed.
3. A trademark is assigned to the manufactured goods whereas the Geographical Indication is assigned to the agricultural goods/products and handicrafts only.
Which of the statements given above is/are correct ?
(a) 1 only
(b) 1 and 2
(c) 2 and 3
(d) 1, 2 and 3
[I.A.S. (Pre) 2010]
Ans. (b) 1 and 2
- A Geographical Indication (GI) is a label used on items that have a specific place of origin and qualities that come from that place.
- These labels are usually used on agricultural products, food, drinks, handmade items, and manufactured goods.
- A Trade Mark is a symbol that distinguishes one business’s products or services from another’s.
- Trade Marks are protected by Intellectual Property Rights, which are rights belonging to an individual or company and can be licensed.
- A GI is a right belonging to a community from a certain place and it is licensed, but has to be registered with the Registrar of Geographical Indications.
- So, statement 1 and 2 are correct, but statement 3 is not.
|
91. Consider the following statements –
Statement (A): Under the WTO obligations, it is not necessary to reduce subsidies in India’s agriculture sector.Reason (R): India is a developing country.
With reference to the above which of the following is the correct answer –
Code:
(a) A and R both are true and (R) is the correct explanation of (A).
(b) A and R both are true but (R) is not the correct explanation of (A).
(c) A is true, but R is false.
(d) A is false, but R is true.
[U.P. Lower Sub. (Pre) 1998]
Ans. (d) A is false, but R is true.
- The WTO’s Agreement on Agriculture said that developed countries had to reduce the subsidies they give to agriculture by 36% (by value) or 21% (by volume) over 6 years (from 1986-1990 levels).
- Developing countries had to reduce subsidies by 24% (by value) and 14% (by volume) over 10 years.
- The total support given in 1986-88 had to be reduced by 20% in developed countries and 13.3% in developing countries within 6 and 10 years respectively.
- Therefore, the statement is wrong but the reason is correct.
|
92. The terms ‘Agreement on Agriculture’, ‘Agreement on the Application of Sanitary and Phytosanitary Measures’ and ‘Peace Clause’ appear in news frequently in the context of the affairs of the :
(a) Food and Agriculture Organization
(b) United Nations Framework Conference on Climate Change
(c) World Trade Organization
(d) United Nations Environment Programme
[I.A.S. (Pre) 2015]
Ans. (c) World Trade Organization
- The World Trade Organization is associated with the Agreement on Agriculture, Agreement on the Application of Sanitary and Phytosanitary Measures, and the Peace Clause.
|
93. Assertion (A): The United States of America has threatened to ask the World Trade Organization (WTO) to apply sanctions against the developing countries for the non-observance of ILO conventions.
Reason (R): The United States of America itself has adopted and implemented those ILO conventions.
With reference to the above which of the following is the correct answer –
Code:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A)
(b) Both (A) and (R) are true but (R) is NOT a correct explanation of (A)
(c) (A) is true but (R) is false
(d) (A) is false but (R) is true
[I.A.S. (Pre) 1998]
Ans. (c) (A) is true but (R) is false
- The USA is putting pressure on countries that are still developing to follow labor standards, but they don’t pay attention to following these standards themselves.
- Even though this is true, the reason for it is not.
|
94. ‘Broad-based Trade and Investment Agreement (BTIA)’ is sometimes seen in the news in the context of negotiations held between India and :
(a) European Union
(b) Gulf Cooperation Council
(c) Organization for Economic Cooperation and Development
(d) Shanghai Cooperation Organization
[I.A.S. (Pre) 2017]
Ans. (a) European Union
- In June 2007, India and the European Union started discussing a deal called ‘The Broad-based Bilateral Trade and Investment Agreement (BTIA)’.
- Both groups thought this would lead to more business opportunities for them.
- Unfortunately, the talks stopped in 2013 as the EU requested more access to Indian markets for vehicles, alcohol, banking, insurance, and e-commerce.
- Recently, the EU proposed a different deal called ‘Bilateral Investment Protection Agreement (BIPA)’ to India, separate from the stalled BTIA.
|
95. In which one of the following groups are all four countries members of G20?
(a) Argentina, Mexico, South Africa and Turkey
(b) Australia, Canada, Malaysia and New Zealand
(c) Brazil, Iran, Saudi Arabia, and Vietnam
(d) Indonesia, Japan, Singapore and South Korea
[I.A.S. (Pre) 2020]
Ans. (a) Argentina, Mexico, South Africa, and Turkey
- The G20 is an organization of 19 countries and the European Union that meets to talk about economic and financial topics.
- The G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, The United Kingdom, The United States and The European Union.
|
96. Which year will India chair the prestigious G20 forum?
(a) 2017
(b) 2018
(c) 2020
(d) 2022
[Uttarakhand P.C.S. (Pre) 2016]
Ans. (d) 2022
- The G20 is a group of 19 countries and the European Union that works together to address global economic issues like financial stability, climate change, and sustainable development.
- It was started in 1999.
- Every year, a different G20 country takes on the presidency, and a new country from a different group is chosen.
- In 2018, Argentina had the presidency, India was going to in 2020 but had to pull out so Saudi Arabia took over, Italy was in 2021 and Indonesia is in charge until November 2022.
|
97. Which of the following countries have formed NAMA-11?
(a) Developed countries
(b) Developing countries
(c) Least developed countries
(d) Developing and least developed countries
[Chhattisgarh P.C.S. (Pre) 2020]
Ans. (b) Developing countries
- The NAMA-11 is a coalition of developing countries that have shared interests in the NAMA negotiations of the WTO.
- This is a group seeking ways to limit the opening of markets for industrial goods.
- The NAMA-11 includes Argentina, Venezuela, Brazil, Egypt, India, Indonesia, Namibia, Philippines, South Africa and Tunisia.
- The negotiations are based on the Doha Declaration of 2001, which calls for tariff reductions on goods from developing countries.
- These goods include manufacturing products, fuel and mining products, fish and fish products, and forestry products.
- These items account for almost 90% of the world’s merchandise exports, which makes NAMA negotiations very important for developing countries.
|
98. Digital Economy Report, 2019 issued first time by whom?
(a) World Bank
(b) NITI Aayog
(c) World Economic Forum
(d) UNCTAD
[Chhattisgarh P.C.S. (Pre) 2019]
Ans. (d) UNCTAD
- In September 2019, the United Nations Conference on Trade and Development (UNCTAD) published its first Digital Economy Report.
- This report studied the movement of information, data, and finances in the global digital economy.
- The report revealed that India was the ninth-highest producer of e-commerce sales in 2017.
- UNCTAD released the updated version of the report in September 2021.
|
99. Who among the following is the founder of ‘World Economic Forum’?
(a) Klaus Schwab
(b) John Kenneth Galbraith
(c) Robert Julic
(d) Paul Krugman
[U.P.P.C.S. (Pre) 2008]
Ans. (a) Klaus Schwab
- The World Economic Forum (WEF) is an international organization that brings together political, business, and other leaders for cooperative purposes.
- It was established in 1971 by Klaus Schwab and is based in Geneva, Switzerland.
- It is mostly known for its yearly gathering in Davos, Switzerland at the end of January.
|
100. Which of the following is NOT correctly matched as per the World Economic Forum’s release of the Global Talent Competitive Index, 2020?
(Country) (Rank)
(a) Switzerland 1
(b) Singapore 3
(c) India 72
(d) U.S.A. 4
[U.P.B.E.O. (Pre) 2019]
Ans. (d) U.S.A. 4
- The Global Talent Competitive Index released by INSEAD at the World Economic Forum in Davos shows the rankings of countries for 2020 and 2021.
- Switzerland is ranked first in both years, Singapore moved up from 3rd to 2nd, India went from 72nd to 88th, and the U.S.A. 2 3.
|
101. The Global Competitiveness Report is published by the :
(a) International Monetary Fund
(b) United Nations Conference on Trade and Development
(c) World Economic Forum
(d) World Bank
[I.A.S. (Pre) 2019]
Ans. (c) World Economic Forum
- Every year, the World Economic Forum publishes the Global Competitiveness Report.
- This report ranks countries using the Global Competitiveness Index.
- In the 2019 report, India went down 10 places to be ranked 68th, while Singapore replaced the USA as the most competitive economy in the world.
|
102. Which one of the following publishes the ‘Global Competitiveness Index’ report?
(a) UNDP
(b) World Economic Forum
(c) IMF
(d) WTO
[Uttarakhand P.C.S. (Pre) 2016]
Ans. (b) World Economic Forum
- The World Economic Forum publishes a yearly report called the Global Competitiveness Report.
- This report ranks countries based on the Global Competitiveness Index.
- In 2019, India went down 10 places and is now ranked 68th, while Singapore replaced the USA as the most competitive economy.
|
103. Which among the following is not a parameter for estimating the Global Gender Gap Index of the World Economic Forum?
(a) Health
(b) Education
(c) Economy
(d) Leisure
[U.P.P.C.S. (Pre) 2017]
Ans. (d) Leisure
- The Global Gender Gap Index is a tool that looks at differences between men and women in countries around the world.
- It was created by the World Economic Forum in 2006. It looks at four parts of life: economics, education, politics, and health.
- It looks at 14 different things to see how equal or unequal men and women are in each of these areas.
|
104. Which of the following gives the ‘Global Gender Gap Index’ ranking to the countries of the world?
(a) World Economic Forum
(b) UN Human Rights Council
(c) UN Women
(d) World Health Organization
[I.A.S. (Pre) 2017]
Ans. (a) World Economic Forum
- The World Economic Forum (WEF) puts out an annual report called “The Global Gender Gap Report” which uses the Global Gender Gap Index to measure how equal men and women are in different countries.
- In the 2021 report, India is number 140 out of 156 countries.
|
105. What is India’s rank on the World Economic Forum’s Global Gender Gap Index, 2020?
(a) 109th
(b) 110th
(c) 111th
(d) 112th
[Chhattisgarh P.C.S. (Pre) 2020]
Ans. (d) 112th
- India was ranked 112th out of 153 countries on the World Economic Forum’s 2020 Global Gender Gap Index.
- However, in the 2021 Global Gender Gap Report released in March 2021, India dropped 28 places and now stands at 140 out of 156 countries, making it the third-worst performer in South Asia.
- Iceland was the most gender-equal country and Afghanistan the worst-performing nation according to this report.
|
106. Recently, the first ‘Gender Social Norms Index’ was released by which of the following?
(a) World Bank
(b) World Bank and United Nations Development Programme
(c) World Bank and NITI Aayog
(d) United Nations Development Programme
[U.P. R.O. / A.R.O. (Mains) 2016]
Ans. (d) United Nations Development Programme
- The UNDP released the first Gender Social Norms Index (GSNI) on 5 March 2020.
- This index looks at how social beliefs hinder gender equality in areas like politics, work, and education.
- It includes data from 75 countries, which make up around 80% of the world’s population.
- According to the GSNI 2020, Pakistan has the most bias against women (99.81%) and Andorra has the least bias against women (27.01%).
|
107. The Travel and Tourism Competitive Index (TTCI) is released by :
(a) World Bank
(b) International Monetary Fund
(c) World Economic Forum
(d) United Nations Development Programme
[U.P. P.C.S. (Pre) 2020]
Ans. (c) World Economic Forum
- The World Economic Forum (WEF) publishes a report and index every two years that compares the competitiveness of countries’ economies.
- It looks at the factors and policies that help the travel and tourism sector to be successful, which in turn helps improve a country’s competitiveness.
|
108. India is a member of which of the following?
1. Asian Development Bank
2. Asia-Pacific Economic Cooperation
3. Colombo Plan
4. Organization for Economic Cooperation and Development (OECD)
Select the correct answer using the code given below :
(a) 1 and 3
(b) 2 and 4
(c) 1, 2 and 3
(d) 1, 2, 3 and 4
[I.A.S. (Pre) 2008]
Ans. (a) 1 and 3
- India joined the Asian Development Bank (ADB) when it was created in 1966 and is now the 4th biggest shareholder and the biggest borrower since 2010.
- India was also part of the Colombo Plan since 1951.
- It is not a member of the Asia-Pacific Economic Cooperation (APEC) or the Organization for Economic Cooperation and Development (OECD).
|
109. The headquarters of the European Economic Community is at :
(a) Brussels
(b) Copenhagen
(c) Bonn
(d) Paris
[R.A.S./R.T.S. (Pre) 1992]
Ans. (a) Brussels
- The European Economic Community (EEC) was founded in 1957 with the Treaty of Rome.
- It is based in Brussels, Belgium.
|
110. Consider the following statements about the European Union :
1. The European Union was known earlier as the European Community.
2. The Single European Act (1986) and the Maastricht Treaty were milestones in its formation.
3. Citizens of European Union countries enjoy dual citizenship.
4. Switzerland is a member of the European Union.
Which of the above statements is correct?
(a) 2 and 4
(b) 1 and 3
(c) 3 and 4
(d) 1, 2 and 3
[I.A.S. (Pre) 1999]
Ans. (d) 1, 2 and 3
- Switzerland is not part of the European Union, so statement 4 is incorrect.
- The other three statements about the European Union are accurate.
|
111. Which of the following countries is not a member of the European Union?
(a) France
(b) Germany
(c) Italy
(d) Poland
[R.A.S./R.T.S. (Pre) 1997]
Ans. (d) Poland
- In 1997, Poland was not yet a member of the European Union.
- They became a member in 2004 and the EU now has 27 countries.
- The UK left the EU on January 31, 2020.
- The EU is a special group of 27 European countries that share both an economic and political union.
|
112. ‘European Stability Mechanism’, sometimes seen in the news, is an :
(a) agency created by the EU to deal with the impact of millions of refugees arriving from Middle East
(b) agency of the EU that provides financial assistance to eurozone countries.
(c) agency of the EU to deal with all the bilateral and multilateral agreements on trade
(d) agency of the EU to deal with the conflicts arising among the member countries
[I.A.S. (Pre) 2016]
Ans. (b) agency of the EU that provides financial assistance to eurozone countries.
- The ESM was created in 2012 to replace the European Financial Stability Facility and helps countries in the eurozone that are in serious financial trouble.
- It offers money to these countries and is based in Luxembourg.
|
113. The term ‘Digital Single Market Strategy’ seen in the news, refers to :
(a) ASEAN
(b) BRICS
(c) EU
(d) G20
[I.A.S. (Pre) 2017]
Ans. (c) EU
- The European Commission announced the Digital Single Market Strategy in May 2015 as part of the Digital Agenda for Europe 2020 program.
- This policy relates to digital marketing, e-commerce, and telecommunications.
- It is made up of three main parts: access to online products and services, the conditions for digital networks and services to grow, and the growth of the European digital economy.
|
114. The FAO accords the states of the ‘Globally Important Agricultural Heritage System (GIAHS)’ to traditional agricultural systems. What is the overall goal of this initiative?
1. To provide modern technology, training in modern farming methods, and financial support to local communities of identified GIAHS so as to greatly enhance their agricultural productivity
2. To identify and safeguard eco-friendly traditional farm practices and their associated landscapes, agricultural biodiversity, and knowledge systems of the local communities
3. To provide Geographical Indication status to all the varieties of agricultural produce in such identified GIAHS
Select the correct answer using the code given below :
(a) 1 and 3 only
(b) 2 only
(c) 2 and 3 only
(d) 1, 2 and 3
[I.A.S. (Pre) 2016]
Ans. (b) 2 only
- The Food and Agriculture Organization (FAO) started the Globally Important Agricultural Heritage Systems (GIAHS) in 2002 to help protect these dynamic systems and the people who rely on them.
- GIAHS are beautiful landscapes that have a combination of agricultural biodiversity, resilient ecosystems, and a rich cultural heritage.
- The goal of the GIAHS initiative is to recognize and protect eco-friendly traditional farming practices, their associated landscapes, agricultural biodiversity, and the local community’s knowledge systems.
|
115. The 100th ILO Annual Conference has decided to protect the interests of :
(a) Child labor
(b) Domestic workers
(c) Landless Agricultural Labour
(d) Woman labor
[U.P. U.D.A./L.D.A. (Mains) 2010]
Ans. (b) Domestic workers
- In June 2011, the International Labour Organization (ILO) had its 100th session.
- At this session, they adopted a set of rules to improve the working conditions of millions of domestic workers around the world.
- ILO had its beginnings in 1919 when it was part of the Treaty of Versailles which ended World War I.
- In 1946, it became part of the United Nations.
- Its headquarters is located in Geneva, Switzerland. In 2019, ILO celebrated its 100th anniversary.
|
116. International Labour Organization’s Conventions 138 and 182 are related to :
(a) Child labor
(b) Adaptation of agricultural practices to global climate change
(c) Regulation of food prices and food security
(d) Gender parity in the workplace
[I.A.S. (Pre) 2018]
Ans. (a) Child labor
- In March 2017, the Indian Government agreed to ratify two ILO (International Labour Organization) conventions about the minimum age for work and eradication of the worst forms of child labor.
- India officially deposited the documents to the ILO in June 2017.
- India was one of the founding members of ILO which was established in 1919.
|
117. To integrate cultural leaders into its meetings, which one of the following gives the ‘Crystal Award’?
(a) Asia-Pacific Economic Cooperation
(b) International Bank for Reconstruction and Development
(c) World Health Organization
(d) World Economic Forum
[I.A.S. (Pre) 2009]
Ans. (d) World Economic Forum
- The World Economic Forum gives out the Crystal Award annually to recognize the accomplishments of artists and influencers who promote inclusivity and sustainability.
- In 2020, Deepika Padukone won the 26th Crystal Award for her work to spread awareness of mental health issues.
|
118. UNSC stands for :
(a) United Nations Social Council
(b) United Nations Security Council
(c) United Nations Scientific Council
(d) United Nations Secular Council
[Jharkhand P.C.S. (Pre) 2013]
Ans. (b) United Nations Security Council
- The United Nations Security Council (UNSC) is one of the six main parts of the United Nations.
- It works to keep international peace and security, decide which countries can become members of the UN, and change the UN Charter if necessary.
- The UNSC has five permanent members (China, the US, France, Russia, and the United Kingdom) and 10 other members who are elected from different regions for two-year terms.
|
119. How many permanent members are there in the Security Council of UNO?
(a) 6
(b) 5
(c) 2
(d) 3
[M.P.P.C.S. (Pre) 2006]
Ans. (b) 5
- The United Nations Security Council (UNSC) is one of the six main parts of the United Nations.
- It is responsible for keeping the world safe and peaceful, accepting new countries to join the United Nations, and agreeing to amendments to the UN Charter.
- It consists of five permanent members (China, United States, France, Russia and the United Kingdom) and ten non-permanent members, who are voted in from different regions and serve for two years.
|
120. Match the following :
| List-I |
List-II |
| A. W.T.O. |
1. To provide finance to correct equilibrium in the balance of payments |
| B. I.M.F |
2. Generally to forbid the use of quantitative restrictions in trade |
| C. SAARC |
3. Sanction of Soft Loans |
| D. I.D.A |
To promote cooperation among South Asian countries |
Codes :
A B C D
(a) 1 2 3 4
(b) 2 3 4 1
(c) 2 1 4 3
(d) 3 2 4 1
[U.P.P.C.S. (Pre) (Re-Exam) 2015]
Ans. (c) 2 1 4 3
| The correctly matched lists are as follows : |
| List-I |
List-II |
| W.T.O. |
Generally to forbid the use of quantitative restrictions in trade |
| I.M.F. |
To provide finance to correct equilibrium in the balance of payments |
| SAARC |
To promote cooperation among South Asian countries |
| I.D.A. |
Sanction of Soft Loans |
|
121. With reference to the International Monetary and Financial Committee (IMFC), consider the following statements :
1. IMFC discusses matters of concern affecting the global economy and advises the International Monetary Fund (IMF) on the direction of its work.
2. The World Bank participates as observer in IMFC’s meetings.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
[I.A.S. (Pre) 2016]
Ans. (c) Both 1 and 2
- The IMFC is a group of 24 people who give suggestions and information to the IMF Board of Governors about how the world’s financial system should be managed and how to respond to unexpected events.
- They normally meet twice a year and talk about topics that affect the global economy. Although they don’t have the power to make decisions, they influence the IMF’s policies.
- Representatives from other international organizations, such as the World Bank, are also present at their meetings.
|
122. Which of the following organizations’ headquarters is correct?
(a) UNO – London
(b) WTO – Geneva
(c) ILO – Rome
(d) FAO – Geneva
[U.P. U.D.A./L.D.A. (Pre) 2006]
Ans. (b) WTO – Geneva
| The correctly matched lists are as follows : |
|
| Organizations |
Headquarters |
| UNO |
New York |
| WTO |
Geneva |
| ILO |
Geneva |
| FAO |
Rome |
|
123. How many members of UNO are there?
(a) 166
(b) 176
(c) 184
(d) 191
[M.P.P.C.S. (Pre) 2006]
Ans. (d) 191
- In 2005, the United Nations had 191 countries as members. Now, it has 193.
- Montenegro joined in 2006 and South Sudan became the 193rd member in 2011.
- The UN was created in 1945 and is an international organization.
|
124. Which one of the following is not related to the United Nations?
(a) Multilateral Investment Guarantee Agency
(b) International Finance Corporation
(c) International Centre for Settlement of Investment Disputes
(d) Bank for International Settlements
[I.A.S. (Pre) 2010]
Ans. (d) Bank for International Settlements
- The Bank of International Settlements (BIS) is not connected to the United Nations.
- It is an international financial organization that works to make sure the global money system is stable by working with different central banks.
- The Multilateral Investment Guarantee Agency, International Finance Corporation and International Centre for Settlement of Investment Disputes are part of the World Bank Group, which is associated with the United Nations.
- The World Bank Group is part of the UN, but it is still independent and has its own way of making decisions.
|
125. Consider the following countries:
1. Brazil
2. Mexico
3. South Africa
According to UNCTAD, which of the above is/are categorized as ‘Emerging Economies’?
(a) 1 only
(b) 1 and 3
(c) 2 and 3
(d) 1, 2 and 3
[I.A.S. (Pre) 2010]
Ans. (d) 1, 2 and 3
- The United Nations Conference on Trade and Development (UNCTAD) has identified Brazil, Mexico and South Africa as “Emerging Economies”.
- Other important growing economies include China, India, Argentina, Egypt, Indonesia, Russia, Poland, Nigeria, Thailand, etc.
|
126. With reference to ‘Asia-Pacific Ministerial Conference on Housing and Urban Development (APMCHUD)’, consider the following statements :
1. The first APMCHUD was held in India in 2006 on the theme ‘Emerging Urban Forms – Policy Responses and Governance Structure’.
2. India hosts all the Annual Ministerial Conferences in partnership with ADB, APEC, and ASEAN.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
[I.A.S. (Pre) 2017]
Ans. (d) Neither 1 nor 2
- The Asia-Pacific Ministerial Conference on Housing and Urban Development (APMCHUD) was held in New Delhi, India in 2006, and the theme was “A vision for sustainable urbanization in the Asia-Pacific by 2020”.
- This event takes place every two years, and the past conferences have been held in Tehran (Iran), Solo (Indonesia), Amman (Jordan), Seoul (South Korea), New Delhi, and Tehran again.
|
127. With reference to the ‘Trans-Pacific Partnership’ consider the following statements :
1. It is an agreement among all the Pacific Rim countries except China and Russia.
2. It is a strategic alliance for the purpose of maritime security only.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2.
[I.A.S. (Pre) 2016]
Ans. (d) Neither 1 nor 2.
- The Trans-Pacific Partnership (TPP) was a proposed deal between 12 countries around the Pacific Ocean.
- It was signed in 2016 and aimed to make a single economic area and have the same rules for investing.
- The countries involved were Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States.
- Donald Trump removed the US from the TPP in 2017, so it couldn’t go ahead.
- The other 11 countries then negotiated a new agreement, called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP or TPP-11).
- This agreement came into force in 2018.
|
128. Which of the following countries is not a member of the Asia-Pacific Trade Agreement (APTA)?
(a) Lao DPR
(b) China
(c) Myanmar
(d) India
[U.P.P.C.S. (Mains) 2010]
Ans. (c) Myanmar
- The Asia-Pacific Trade Agreement, which used to be called the Bangkok Agreement and was renamed in 2005, was signed in 1975.
- This agreement helps to increase trade between the member countries by allowing them to agree on certain concessions.
- The members of APTA are Bangladesh, China, India, South Korea, Lao PDR (Laos), Mongolia and Sri Lanka. Myanmar is not part of APTA.
|
129. The 13th NAM conference 24-25 February 2003 was organized at :
(a) Kuala Lumpur
(b) Islamabad
(c) Kathmandu
(d) New Delhi
[Jharkhand P.C.S. (Pre) 2003]
Ans. (a) Kuala Lumpur
- The Non-Aligned Movement (NAM), a group of 120 countries not connected to any big power bloc, held its 13th conference in Kuala Lumpur, Malaysia in February 2003, and its 18th conference in Baku, Azerbaijan in October 2019.
- It was started in 1961 by leaders from India, Yugoslavia, Egypt, Ghana, and Indonesia to form a neutral group in the Cold War.
|
130. The main emphasis of OPEC (Organization of the Petroleum Exporting Countries) is on which of the following?
(a) the production of petroleum
(b) control over prices of petroleum
(c) Both (a) and (b)
(d) None of the above
[Uttarakhand P.C.S. (Pre) 2016]
Ans. (c) Both (a) and (b)
- The Organization of the Petroleum Exporting Countries (OPEC) is a group of 13 countries that was created in 1960 in Baghdad.
- The purpose of the organization is to make sure that there is a steady supply of oil to consumers, producers get a steady income, and investors get a fair return on their investment in the petroleum industry.
- The 13 member countries produce around 44% of the world’s oil and have 81.5% of the world’s ‘proven’ oil reserves, so they have a lot of control over global oil prices.
|
131. Which of the following countries is not a member of OPEC?
(a) Algeria
(b) China
(c) Indonesia
(d) U.A.E.
[U.P.P.C.S. (Pre) 1999]
Ans. (b)&(c) China & Indonesia
- OPEC was founded in 1960 by five countries (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela).
- Since 1965, it has been headquartered in Vienna, Austria, and is currently made up of 13 member states.
- Qatar left in 2019, Ecuador in 2020, and Indonesia stopped being a member in 2016.
- At the time of the question, the correct answer was (b), but now both (b) and (c) are correct.
|
132. Which of the following is not a member of ‘South Asian Association of Regional Cooperation’ (SAARC)?
(a) Pakistan
(b) Sri Lanka
(c) Nepal
(d) Thailand
[Uttarakhand U.D.A./L.D.A. (Pre) 2007]
Ans. (d) Thailand
- The South Asian Association of Regional Cooperation (SAARC) is a group of 8 countries in South Asia that work together economically and politically.
- It was created in 1985 in Dhaka, Bangladesh, by 7 founding nations: Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
- The headquarters of SAARC is in Kathmandu, Nepal, and Afghanistan joined in 2007.
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133. When was the South Asian Association for Regional Cooperation (SAARC) established?
(a) 1984
(b) 1987
(c) 1985
(d) 1989
[Uttarakhand P.C.S. (Pre) 2012]
Ans. (c) 1985
- See the explanation of the above question.
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134. The Indian Grain Storage Management and Research Institute for providing training to the SAARC member countries is situated at :
(a) New Delhi
(b) Pantnagar
(c) Hapur
(d) Hyderabad
[Uttarakhand P.C.S. (Pre) 2016]
Ans. (c) Hapur
- The Indian Grain Storage Management and Research Institute (IGMRI) is located in Hapur and provides training to countries in the SAARC region.
- The initial training session for SAARC officials on food grain storage was conducted at IGMRI between November 17th and 26th 2014.
- IGMRI was originally set up in Hapur in 1958 as the Grain Storage Research and Training Centre.
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135. In which year, for the first time, SAARC meet was organized in India?
(a) 1986
(b) 1995
(c) 2007
(d) None of the above
[Uttarakhand P.C.S. (Pre) 2016]
Ans. (a) 1986
- In 1986, India hosted the first-ever SAARC summit. SAARC is a union of 8 countries in South Asia: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
- It was created in Dhaka on 8th December 1986 and the secretariat is in Kathmandu, Nepal.
- The 18th summit was held in Kathmandu in 2014.
- Pakistan was supposed to host the 19th summit in Islamabad in 2016 but it got cancelled.
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136. Which one of the following is different from the rest?
(a) UNICEF
(b) I.M.F.
(c) W.H.O.
(d) SAARC
[U.P. Lower Sub (Mains) 2015]
Ans. (d) SAARC
- UNICEF, IMF, and WHO are worldwide groups, while SAARC is a group of 8 nations from South Asia.
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137. Where is the BRICS Summit, 2019 scheduled to be held?
(a) Brazil
(b) India
(c) China
(d) Russia
(e) None of the above/More than one of the above
[65th B.P.S.C. (Pre) 2019]
Ans. (a) Brazil
- The 2019 BRICS Summit was held in Brazil in November 2019.
- The 2020 (12th) Summit was originally going to take place in Russia, but due to the COVID-19 pandemic, it was held as a video conference in November 2020.
- The 2021 (13th) Summit was hosted by India in September 2021, and had the theme ‘BRICS @ 15: IntraBRICS Cooperation for Continuity, Consolidation and Consensus’.
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138. With reference to a grouping of countries known as BRICS, consider the following statements :
1. The First Summit of BRICS was held in Rio de Janeiro in 2009.
2. South Africa was the last to join the BRICS grouping.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
[I.A.S. (Pre) 2014]
Ans. (b) 2 only
- BRICS is a group of five major emerging economies: Brazil, Russia, India, China, and South Africa.
- These countries have a big influence on their region.
- The BRIC (Brazil, Russia, India, China) countries first met in 2006 in St. Petersburg.
- In 2010, South Africa joined the group and it was renamed BRICS.
- The leaders of the countries have been meeting annually since 2009.
- The most recent BRICS summit was held virtually in India in 2021.
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139. In which year BRIC grouping was formed as BRICS?
(a) 2010
(b) 2015
(c) 2009
(d) 2012
[Uttarakhand P.C.S. (Pre) 2016]
Ans. (a) 2010
- BRICS is a term used to refer to five large, growing economies: Brazil, Russia, India, China, and South Africa.
- These countries are influential in their region and first met together in 2006.
- The name was changed to BRICS when South Africa joined in 2010.
- These countries have been meeting annually at summits since 2009.
- The most recent BRICS summit was held virtually on September 9, 2021 and was hosted by India.
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140. The first-ever summit meeting of ‘BRIC Countries’ took place at :
(a) Brazil
(b) India
(c) Russia
(d) China
[Uttarakhand P.C.S. (Pre) 2010]
Ans. (d) China
- BRICS is a group of five emerging economies: Brazil, Russia, India, China and South Africa.
- They have a big influence in their local areas.
- The BRIC countries first met in 2006 at a G8 meeting in Russia, and then in 2010 South Africa was added to the group and it was renamed BRICS.
- Since then, the countries have been holding annual summits, with the most recent one taking place virtually in India in 2021.
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141. South Africa joined BRIC (Brazil, Russia, India, China) of the fastest growing economies in :
(a) 1999
(b) 2001
(c) 2008
(d) 2011
[Jharkhand P.C.S. (Pre) 2013, Uttarakhand P.C.S. (Pre) 2012]
Ans. (*)
- BRICS is a group of five countries including Brazil, Russia, India, China, and South Africa.
- These countries are known for their powerful influence on their area.
- They first came together in 2006 at a meeting in St. Petersburg, Russia, and formalized their group in 2009.
- South Africa joined the group in 2010 and since then the governments of the BRICS countries have held formal summits each year.
- The most recent BRICS summit was hosted by India virtually in September 2021.
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142. The host country of the 9th BRICS summit is :
(a) China
(b) Russia
(c) Brazil
(d) South Africa
[U.P.P.C.S. (Pre) 2016]
Ans. (a) China
- The 9th BRICS summit was held in Xiamen, China in 2017, and India hosted the 13th summit virtually on September 9, 2021.
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143. Which bank has been established in China by BRICS countries?
(a) New Industrial Development Bank
(b) New Agricultural Development Bank
(c) New Development Bank
(d) New Commercial Bank
[U.P.P.C.S. (Pre) 2017]
Ans. (c) New Development Bank
- The New Development Bank (NDB) was created by the BRICS countries (Brazil, Russia, India, China and South Africa).
- The leaders of the countries signed an agreement in 2014 to set up the bank with an initial capital of US$100 billion, evenly split between the founding members.
- The bank is based in Shanghai, China, and in 2021, the United Arab Emirates, Uruguay, Bangladesh and Egypt became members.
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144. Consider the following statements :
1. A New Development Bank has been set up by APEC.
2. The headquarters of the New Development Bank is in Shanghai.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
[I.A.S. (Pre) 2016]
Ans. (b) 2 only
- The New Development Bank (NDB) was created by five countries (Brazil, Russia, India, China and South Africa) at the 6th BRICS summit in 2014.
- It has an initial capital of $100 billion, shared equally among the five countries.
- The bank is based in Shanghai, China, and has now added three more countries – the United Arab Emirates, Uruguay, and Bangladesh – as members, as well as Egypt in December 2021.
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145. Who coined the term BRICs in 2001?
(a) Jim O Neil
(b) Barack Obama
(c) John Kennedy
(d) Vladimir Putin
[Uttarakhand P.C.S. (Pre) 2016]
Ans. (a) Jim O Neil
- In 2001, Jim O’Neill, a British economist and the chairman of Golden Sachs Asset Management, created the term “BRIC” in his publication called ‘Building Better Global Economic BRICs’.
- BRICs stands for Brazil, Russia, India, and China which are four countries that are quickly developing and represent a change in the global economic power away from the G7 economies.
|
146. The British scholar Jim O Neill who coined the term BRICS is related to which of the following subjects?
(a) Psychology
(b) Sociology
(c) Political Science
(d) Economics
[Uttarakhand P.C.S. (Pre) 2016]
Ans. (d) Economics
- In 2001, the British economist Jim O’Neill, who was the chairman of Golden Sachs Asset Management, came up with the phrase “BRICs”.
- This acronym stands for Brazil, Russia, India, and China, which are all countries that are growing quickly and are seen as taking away economic power from the established G7 countries.
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147. Who is appointed as the first President of the New Development Bank (or BRICS bank)?
(a) GG Menon
(b) Depak Parikh
(c) K.V. Kamath
(d) Chanda Kochar
[U.P.P.C.S. (Mains) 2015]
Ans. (c) K.V. Kamath
- K.V. Kamath was chosen to be the first leader of the ‘New Development Bank’ (or BRICS Bank) in 2015.
- Marcos Prado Troyjo from Brazil then became the new President of the NDB on July 7, 2020.
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148. With reference to BRICS countries, consider the following statements :
1. At present, China’s GDP is more than the combined GDP of all three other countries.
2. China’s population is more than the combined population of any two other countries.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
[I.A.S. (Pre) 2010]
Ans. (a) 1 only
- Based on the provided table, it is evident that only statement 1 is accurate.
- The GDP in billions of dollars and the population in millions for the BRICS countries in the indicated years are as follows: Countries | 2010 GDP | 2020 GDP | 2010 Population | 2018 Population
China | 8250 | 14860 | 1354.0 | 1415.05
Brazil | 2425 | 1363 | 193.9 | 210.87
Russia | 1953 | 1464 | 143.3 | 143.96
India | 1946 | 3050 | 1210.06 | 1367.09
South Africa | — | 370 | — | 57.40
- Hence, based on the data presented, only statement 1 is correct.
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149. Which of the following is not one of the BRICS countries?
(a) Brazil
(b) Russia
(c) South Africa
(d) Canada
[M.P.P.C.S. (Pre) 2016]
Ans. (d) Canada
- South Korea, Canada, Indonesia, and Italy are the countries that are not part of the BRICS group.
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150. Which of the following ‘BRICS’ nations has the highest per capita income?
(a) China
(b) India
(c) South Africa
(d) Russian Federation
[U.P.P.C.S. (Mains) 2010]
Ans. (d) Russian Federation
- In 2010, Russia had the most money per person compared to the other BRICS countries.
- According to the World Bank’s newest figures (2019), the BRICS countries from most to least money per person are Russia, China, Brazil, South Africa, and India.
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151. The Shanghai Cooperation Organization summit in which India, was inducted as a full member was held at :
(a) Ufa
(b) Dushanbe
(c) Tashkent
(d) Astana
[U.P.P.C.S. (Pre) 2017]
Ans. (d) Astana
- The Shanghai Cooperation Organization (SCO) is a group of countries in Eurasia that work together on political, economic, and security issues.
- It was created in 2001 by China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan.
- In 2017, India and Pakistan became full members.
- In 2021, Iran started the process of joining the SCO.
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152. Which of the following countries is not a member of the Shanghai-5 :
(a) China
(b) Kazakhstan
(c) Russia
(d) Vietnam
[U.P.P.C.S.(Pre) 2001]
Ans. (d) Vietnam
- The SCO was formed in 2001 by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.
- It started as the Shanghai Five group in 1996, with the exception of Uzbekistan.
- In 2017, India and Pakistan joined the SCO, making it an eight-member organization.
- In 2021, the SCO began the process of Iran joining.
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153. Which of the following countries is not a member of SCO?
(a) China
(b) India
(c) Russia
(d) Uzbekistan
[U.P.P.S.C. (GIC) 2010]
Ans. (*)
- In 2010, India was just watching SCO, but now it is an official member (since 2017).
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154. Identify the Regional Grouping, in which India is not associated as a full member.
(a) BASIC
(b) G-4
(c) BRICS
(d) Shanghai Cooperation Organization
[R.A.S./R.T.S.(Pre) 2013]
Ans. (*)
- India was part of the BASIC, G-4, and BRICS groups.
- However, it was not in the SCO (Shanghai Cooperation Organisation) in 2013 but joined the group in 2017.
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155. Which of the following is not a member of ‘Gulf Cooperation Council’?
(a) Iran
(b) Saudi Arabia
(c) Oman
(d) Kuwait
[I.A.S. (Pre) 2016]
Ans. (a) Iran
- The Gulf Cooperation Council (GCC), now known as the Cooperation Council for the Arab States of the Gulf, was set up in 1981.
- It is a union of six countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
- The headquarters of the GCC is in Riyadh, Saudi Arabia.
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156. Which of the following is not a member of The GangaMekong Swarnbhoomi Cooperation Project :
(a) India
(b) Bangladesh
(c) Laos
(d) Vietnam
[U.P.P.C.S.(Pre) 2001]
Ans. (b) Bangladesh
- The Mekong-Ganga Cooperation is a project that was started in 2000 to help the six countries involved (India, Thailand, Myanmar, Cambodia, Laos, and Vietnam) build closer ties.
- It was founded in Vientiane, Laos, and takes its name from the Mekong and Ganga rivers.
- The organization works to promote tourism, culture, education, and transportation.
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157. In the Mekong-Ganga Cooperation, an initiative of six countries, which of the following is/are not a participant/participants?
1. Bangladesh
2. Cambodia
3. China
4. Myanmar
5. Thailand
Select the correct answer using the code given below :
(a) 1 only
(b) 2, 3 and 4
(c) 1 and 3
(d) 1, 2 and 5
[I.A.S (Pre) 2015]
Ans. (c) 1 and 3
- Mekong-Ganga Cooperation (MGC) was created in 2000 with the goal of bringing together the six countries of India, Thailand, Myanmar, Cambodia, Laos and Vietnam.
- The name of the group comes from the two rivers Ganga and Mekong in the region.
- MGC focuses on four main areas: tourism, culture, education, and transportation.
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158. ‘Mekong-Ganga Cooperation’ was launched in 2000 at :
(a) Laos
(b) Thailand
(c) Cambodia
(d) India
(e) None of the above / More than one of the above
[66th B.P.S.C. (Pre) (Re-Exam) 2020]
Ans. (a) Laos
- The Mekong–Ganga Cooperation was started in Vientiane, Laos on November 10, 2000.
- It is made up of 6 countries: India, Thailand, Myanmar, Cambodia, Laos and Vietnam.
- India is involved in Look-East connectivity projects.
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159. Which of the following statements is/are true about the three-day International Seminar on ‘Climate Smart Farming System’ for BIMSTEC countries held on December 11-13, 2019?
1. It was held in Kathmandu, Nepal.
2. It was aimed to have experience sharing for more resilience to climate change through an ecological approach to enable the improvement of tropical small-holding farming systems.
Select the correct answer from the codes given below:
Codes :
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2
[U.P.B.E.O. (Pre) 2019]
Ans. (b) Only 2
- A three-day seminar about ‘Climate Smart Farming Systems’ was held in New Delhi from December 11-13, 2019.
- It was organized by the Department of Agricultural Research and Education, the Ministry of Agriculture and Farmers Welfare, and the Indian Council of Agricultural Research.
- Participants from all seven countries in the BIMSTEC region (Bhutan, Bangladesh, India, Myanmar, Nepal, Sri Lanka, and Thailand) and from the BIMSTEC Secretariat attended.
- It was meant to help build resilience to climate change with an ecological approach to improve small farming systems in tropical areas for more productivity.
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160. Which one of the following groups of countries is known as ‘Benelux Countries’?
(a) Belgium, Denmark, Netherlands
(b) Belgium, Netherlands, Luxembourg
(c) Denmark, Finland, Luxembourg
(d) Norway, Sweden, Finland
[U.P.P.C.S. (Spl.) (Mains) 2004]
Ans. (b) Belgium, Netherlands , Luxembourg
- Belgium, Netherlands, and Luxembourg are three countries in Western Europe that work together and are known as the ‘Benelux Countries’.
- This group is referred to as the Benelux Union or Benelux and is an agreement between the three countries to cooperate with each other.
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161. “They are fantastically diverse. They speak hundreds of languages and dialects. They comprise scores of ethnic groups. They include highly industrialized economies and up-and-coming economies. They span half the surface of the earth and are home to two-fifths of the world’s population.” The group of countries referred to here belongs to :
(a) SAPTA
(b) APEC
(c) EC
(d) CIS
[U.P.P.C.S. (Pre) 1998]
Ans. (b) APEC
- APEC is a regional economic forum made up of 21 member countries in the Asia-Pacific region.
- It was created in 1989 to take advantage of the increasing connection between the countries in Asia and the Pacific.
- APEC encourages free trade in the area and is based in Singapore.
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162. Which of the following is not associated with NAFTA?
(a) Great Britain
(b) Canada
(c) Mexico
(d) USA
(e) None of the above/More than one of the above
[64th B.P.S.C. (Pre) 2018]
Ans. (a) Great Britain
- NAFTA was an agreement between Canada, Mexico, and the United States which allowed them to trade with each other.
- It started on 1 January 1994.
- In 2018, a new deal called the United States-Mexico-Canada Agreement (USMCA) was created to replace NAFTA. USMCA became active on 1 July 2020, and it changed the rules of NAFTA.
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163. The latest regional economic bloc to be formed is :
(a) ASEAN
(b) COMECON
(c) APEC
(d) NAFTA
[I.A.S. (Pre) 1994]
Ans. (d) NAFTA
- COMECON, a regional economic bloc, was formed in 1949.
- ASEAN was formed in 1967, APEC in 1989, and NAFTA in 1994.
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164. In which year was the SAPTA (South Asian Preferential Trade Agreement) constituted?
(a) 1977
(b) 1993
(c) 1985
(d) 1996
[Uttarakhand P.C.S. (Pre) 2016]
Ans. (b) 1993
- The SAARC Agreement for Preferential Trading Arrangement (SAPTA) was signed on April 11, 1993, at the Seventh SAARC Summit in Dhaka.
- Then, on January 6, 2004, the 12th SAARC Summit in Islamabad, Pakistan made a deal for the South Asian Free Trade Area (SAFTA).
- This agreement made it so that the 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka could trade goods without any customs duties by 2016.
- The SAFTA agreement was put into effect on January 1, 2006
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165. Consider the following agreements :
I. ISLFTA (India-Sri Lanka Free Trade Agreement)
II. SAFTA (South Asian Free Trade Area)
III. CECA (Comprehensive Economic Cooperation Agreement between India and Singapore)
IV. SAPTA (South Asian Preferential Trade Arrangement)
Which of the following is the correct chronological order of the above agreements?
(a) I – III – II – IV
(b) IV – I – II – III
(c) II – I – IV – III
(d) I – II – III – IV
[56th to 59th B.P.S.C. (Pre) 2015]
Ans. (b) IV – I – II – III
- SAFTA is a free trade agreement between the members of the South Asian Association for Regional Cooperation (SAARC).
- The agreement was signed in Islamabad on January 6, 2004, and began being used in 2006.
- ISLFTA was signed in 1998 and started being used in 2000, while SAPTA was signed in 1993 and put into action in 1995.
- CECA is a free trade agreement between Singapore and India, which was signed in 2005.
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166. Consider the following pairs :
Organization Location of Headquarters
1. Asian Development Bank Tokyo
2. Asia-Pacific Economic Singapore Cooperation
3. Association of South-East Bangkok Asian Nations
Which of the above pair(s) is/are correctly matched?
(a) 1 and 2
(b) 2 only
(c) 2 and 3
(d) 3 only
[I.A.S. (Pre) 2009]
Ans. (b) 2 only
- The Asian Development Bank is based in Manila, Philippines; the Asia-Pacific Economic Cooperation is based in Singapore; and the Association of South-East Asian Nations is based in Jakarta, Indonesia.
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167. G-15 is :
(a) An organization of developed countries of the World
(b) An organization of developed countries of Europe
(c) An organization of developing countries of Asia
(d) An organization of developing countries of the World
[48th to 52nd B.P.S.C. (Pre) 2008]
Ans. (d) An organization of developing countries of the World
- The G-15 is a group of developing countries that was created in 1989 at the Non-Aligned Movement Summit. Its purpose is to create better relations between the leading developing nations and the already industrialized nations.
- The headquarters of the G-15 is located in Geneva, Switzerland.
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168. Which one of the following countries is not a member of the G-8 Group?
(a) France
(b) Italy
(c) Spain
(d) Germany
[48th to 52nd B.P.S.C. (Pre) 2008]
Ans. (c) Spain
- The G-7 is a group of seven countries, which are France, Germany, Italy, the United Kingdom, Japan, the United States and Canada.
- It was originally called the G-6 and was changed to the G-8 when Russia joined in 1997.
- However, Russia was suspended in 2014 due to the annexation of Crimea and permanently left G-8 in 2017. The 47th G-7 summit was held in the United Kingdom in June 2021.
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169. A present group of nations known as G-8 started first as G-7. Which one among the following was not one of them?
(a) Canada
(b) Italy
(c) Japan
(d) Russia
[I.A.S. (Pre) 2009]
Ans. (d) Russia
- The G-7 is a group of 7 developed democracies: France, Germany, Italy, the UK, Japan, the US and Canada.
- It was formed as the G-6 in 1975, and then was known as the G-8 when Russia joined in 1997.
- In 2014, Russia was suspended from the group following its annexation of the Crimea region of Ukraine, and in 2017 it officially left.
- The 47th G-7 summit took place in 2021 in the Carbis Bay area of Cornwall, UK.
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170. Which country is not a member of G-8?
(a) India
(b) Germany
(c) Japan
(d) Canada
[48th to 52nd B.P.S.C. (Pre) 2008]
Ans. (a) India
- The G-7 is a group of seven democratic countries: France, Germany, Italy, the United Kingdom, Japan, the United States and Canada. It was originally called the G-6 but changed to the G-7 when Russia joined in 1997.
- Russia was suspended in 2014 after they took over the Crimea region of Ukraine, and in 2017 they decided to leave the G-8 permanently.
- The most recent G-7 summit was held in the UK in June 2021.
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171. The 37th Summit of G-8 was held in France on 26-27 May 2011 at :
(a) Bordeaux
(b) Deauville
(c) Toulouse
(d) Versailles
[U.P.P.C.S. (Mains) 2010]
Ans. (b) Deauville
- The G-8 held its 37th summit in Deauville, France in May 2011. The G-7 was set to meet in June 2020 at Camp David, USA, but this was cancelled due to the COVID-19 pandemic.
- The G-7 then met in Carbis Bay, Cornwall, UK in June 2021.
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172. G-8 Maskoka Initiative is concerned with :
(a) End of International Terrorism
(b) Maternity and Child Health
(c) Settlement of International Disputes
(d) Reduction of Greenhouse gas emission
[Uttarakhand P.C.S. (Pre) 2010]
Ans. (b) Maternity and Child Health
- The G-8 summit in Huntsville-Muskoka, Canada launched a project called the Muskoka Initiative that aimed to raise $5 billion from member countries between 2010 and 2015 to help reduce the number of deaths of moms, babies, and children in developing countries.
- This project was part of the Millennium Development Goals, which sought to decrease mortality in these countries.
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173. With reference to ‘Indian Ocean Rim Association for Regional Cooperation (1OR-ARC)’, consider the following statements :
1. It was established very recently in response to incidents of piracy and accidents of oil spills.
2. It is an alliance meant for maritime security only.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
[I.A.S. (Pre) 2015]
Ans. (d) Neither 1 nor 2
- The Indian Ocean Rim Association for Regional Cooperation (IOR-ARC), founded in 1997 in Port Louis, Mauritius, currently has 23 members.
- Its goal is to form a network in the Indian Ocean region, which is home to around two billion people, to promote trade, social and economic growth, and cultural exchange.
- The headquarters of IOR-ARC (now IORA) is located in Ebene, Mauritius.
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174. A group formed by India, China, Brazil, and other developing countries for future negotiations at the World Trade Organization is known as :
(a) G-77
(b) G-22
(c) G-55
(d) G-11
[U.P.P.C.S. (Mains) 2008]
Ans. (a) G-77
- The G-77 was founded in 1964 by India, China, Brazil, and other developing countries.
- Its purpose is to work together to get a better deal with the United Nations and the World Trade Organization.
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175. Which of the following is not a member of ASEAN?
(a) India
(b) Indonesia
(c) Malaysia
(d) Singapore
[U.P. Lower Sub. (Pre) 2003]
Ans. (a) India
- The ASEAN (Association of Southeast Asian Nations) was started on August 8, 1967 in Bangkok, Thailand.
- It consists of 10 countries: Indonesia, Thailand, Malaysia, Philippines, Singapore, Brunei, Vietnam, Laos, Myanmar, and Cambodia.
- The ASEAN headquarters is located in Jakarta, Indonesia.
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176. ‘ASEAN’ stands for :
(a) Academy of South-East Asian Nations
(b) Association of South-East African Nations
(c) Association of South-East Asian Nations
(d) None of the above
[48th to 52nd B.P.S.C. (Pre) 2008]
Ans. (c) Association of South-East Asian Nations
- The ASEAN (Association of Southeast Asian Nations) was created on August 8, 1967, in Bangkok, Thailand with the signing of the Bangkok Declaration.
- It is made up of 10 countries – Indonesia, Thailand, Malaysia, Philippines, Singapore, Brunei, Vietnam, Laos, Myanmar and Cambodia.
- The ASEAN headquarters is in Jakarta, Indonesia.
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177. Which of the following countries is not a member of ASEAN?
(a) Vietnam
(b) Thailand
(c) South Korea
(d) Indonesia
[M.P. P.C.S. (Pre) 2013]
Ans. (c) South Korea
- The ASEAN was created on August 8, 1967, in Bangkok, Thailand and its members are Indonesia, Thailand, Malaysia, Philippines, Singapore, Brunei, Vietnam, Laos, Myanmar, and Cambodia.
- Its headquarters is in Jakarta, Indonesia.
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178. Of which group of Nations is Brunei a member?
(a) NATO
(b) EEC
(c) SAARC
(d) ASEAN
[U.P.P.C.S. (Pre) 1996]
Ans. (d) ASEAN
- Brunei is one of the countries in the group of ASEAN nations.
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179. Consider the following countries :
1. Australia
2. Canada
3. China
4. India
5. Japan
6. USA
Which of the above are among the ‘free-trade partners’ of ASEAN?
(a) 1, 2, 4 and 5
(b) 3, 4, 5 and 6
(c) 1, 3, 4 and 5
(d) 2, 3, 4 and 6
[I.A.S. (Pre) 2018]
Ans. (c) 1, 3, 4 and 5
- Aside from the trade agreement between the 10 ASEAN countries, the regional trade block has also made deals with 6 countries in the Asia-Pacific region.
- These countries are Australia, New Zealand, China, India, South Korea, and Japan. The RCEP is a free trade agreement between the 10 ASEAN countries and 5 of their FTA partners. India, who is also an FTA partner, decided not to join in November 2019.
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180. The term ‘Regional Comprehensive Economic Partnership’ often appears in the news in the context of the affairs of a group of countries known as :
(a) G20
(b) ASEAN
(c) SCO
(d) SAARC
[I.A.S. (Pre) 2016]
Ans. (b) ASEAN
- The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement between 10 countries in the ASEAN region (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) and five other countries (Australia, China, Japan, South Korea and New Zealand).
- It was created by combining all the existing trade deals between the 10 ASEAN countries and the five other countries.
- The RCEP was officially signed on November 15, 2020 during a virtual
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181. India is a member of which among the following?
1. Asia-Pacific Economic Cooperation
2. Association of South-East Asian Nations
3. East Asia Summit
Select the correct answer using the code given below :
(a) 1 and 2 only
(b) 3 only
(c) 1, 2 and 3
(d) India is a member of none of them
[I.A.S. (Pre) 2015]
Ans. (b) 3 only
- The East Asia Summit (EAS) is a gathering of 18 countries in the Indo-Pacific region, including ten ASEAN countries and Australia, China, India, Japan, New Zealand, the Republic of Korea, Russia and the United States, where they come together to discuss strategic issues.
- The annual summit is usually held alongside the ASEAN meeting, and the 16th summit was held virtually in October 2021 under the presidency of Brunei.
- India is not a member of the APEC or ASEAN.
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182. With reference to ‘WaterCredit’, consider the following statements:
1. It puts microfinance tools to work in the water and sanitation sector.
2. It is a global initiative launched under the aegis of the World Health Organization and the World Bank.
3. It aims to enable poor people to meet their water needs without depending on subsidies.
Which of the statements given above are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
[I.A.S. (Pre) 2021]
Ans. (c) 1 and 3 only
- WaterCredit is a program put together by Water.org that uses microfinance tools in the water and sanitation sector.
- It is not sponsored by the WHO or the World Bank.
- Water.org is an American charity organization created by the merging of two organizations, H2O Africa Foundation (co-founded by Matt Damon) and Water Partners (co-founded by Gary White).
- Its goal is to help countries in Asia, Africa, and Latin America that lack access to clean water and sanitation. WaterCredit is the first program of its kind to link the microfinance and water and sanitation sectors and provide individuals with loans to help cover their water and sanitation needs.
- This program targets people who are living at the bottom of the economic pyramid.
- Water.org hopes to use WaterCredit to reduce the need for subsidies and help more people access water and sanitation services.
- Therefore, statements 1 and 3 are correct, but statement 2 is incorrect.
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