Current Affairs: UPSC Previous Year Questions (International Relations and Current Affairs)

Explanation

The Rashtriya Garima Abhiyan launched in 2001 by the Ministry of Social Justice and Empowerment. It is a na-tional campaign to eradicate manual scavenging in India, a de-humanizing practice historically imposed on marginalized Dalit communities. Recognizing it as a human rights violation, the campaign mobilizes government agencies, NGOs, and civil society to raise awareness, enforce laws, and support affected individuals in transitioning to alternative livelihoods. Through advocacy and grassroots action, it aims for a complete elimination of manual scavenging, ensuring dignity and social justice.

Explanation

Special Drawing Right (SDR) The SDR is an international reserve asset used by the IMF and other organizations as a unit of account. It is not a currency, but its value is based on a basket of five currencies--the US dollar, Euro, Chinese renminbi (added in 2016), Japanese yen, and British pound sterling. Key Features SDR value is calculated daily based on market exchange rates. The IMF reviews and adjusts the SDR basket every five years. IMF quotas (member contributions) and voting power are denominated in SDRs. SDR allocations to members are proportional to their IMF quotas. India’s SDR Quota in IMF 2016 reforms increased India’s voting share from 2.3% to 2.6%, while China’s rose from 3.8% to 6%. Currently, India holds 2.75% of the SDR quota and 2.63% of IMF votes. India’s foreign exchange reserves include SDRs, gold reserves, foreign currency assets, and IMF’s Reserve Tranche.

Explanation

Statement 1 is correct: The International Finance Corporation (IFC) is a member of the World Bank Group, focusing specifically on private sector development in developing countries. It acts as a sister organization to the International Bank for Reconstruction and Development (IBRD), but with a distinct mandate to promote private enterprise.

Statement 2 is correct: "Masala bonds" are rupee-denomi-nated bonds issued by international entities, such as the IFC, in offshore markets. The proceeds from these bonds are typically used to finance projects in India, and the principal and interest payments are made in Indian rupees. This means that investors bear the currency risk, as the value of the rupee can fluctuate relative to other currencies. Masala bonds serve as a source of debt financing for both public and private sector entities in India, allowing them to raise capital for infrastructure projects, business expansion, and other development initiatives. The rupee denomination of these bonds makes them attractive to international investors seeking exposure to the Indian market while also supporting the development of India’s capital markets.

Explanation

IndARC is India’s underwater observatory in the Arctic, established for long-term climate and oceanographic research. It monitors water temperature, salinity, ocean currents, and marine life, providing crucial data on climate change and Arctic ecosystems. Despite its geographic distance, India recognizes the Arctic’s global climate impact and its relevance to the Indian subcontinent. IndARC underscores India’s commitment to Arctic research, aiding climate predictions, policy decisions, and global scientific collaboration.

Explanation

Following approval by the Union Cabinet on February 20, 2014, the Odia (Odia) language became the country’s sixth classical language. Odia (Oriya) is an Indo-Aryan language primarily spoken in Odisha and one of six classical languages of India, recognized for its rich literary and cultural heritage. Its history dates back to the ancient Kalinga kingdom, with inscriptions from the 10th century and a literary tradition spanning over a thousand years. Sarala Dasa, a medieval poet, is renowned for his Odia Mahabharata, a landmark literary work.

Explanation

The World Bank is the publisher of the Global Economic Prospects report, a flagship publication that provides comprehensive analyses of the global economic landscape. This report is released twice a year, typically in January and June, and offers in-depth assessments of current economic conditions, emerging trends, and potential risks to the global economy. It serves as a key resource for policymakers,

Explanation

Statement 1 is correct: Brent crude is a major classification of oil and a key global benchmark for crude oil pricing, widely traded and followed for its significant market influence. Its importance comes from its quality, availability, and location, making it easily transportable to European refineries.

Statement 2 is correct: Brent crude is primarily sourced from the North Sea, specifically the Brent oil field. This region is a major oil producer, and its origin influences the characteristics and market value of Brent crude. While the specific blend of crude oils that make up Brent crude may vary slightly over time, its North Sea origin remains a defining characteristic.

Statement 3 is incorrect: While considered "sweet crude" for its relatively low sulfur content, Brent crude still contains some sulfur. "Sweet" indicates less sulfur compared to "sour" crudes, making it more desirable due to lower refining costs. Sulfur content is an important factor in crude oil pricing because higher sulfur content generally requires more complex and expensive refining processes to meet environmental regulations.

Explanation

The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) legally guarantees that adult members of all rural households can apply for work, ensuring inclusivity without discrimination based on caste, creed, gender, or socioeconomic status. Despite the broad eligibility, MGNREGA often prioritizes Below Poverty Line (BPL) households in practice, reflecting its primary goal of poverty alleviation and providing livelihood security to the most vulnerable rural communities. MGNREGA recognises the right to work as a fundamental entitlement for all rural residents, aimed at improving livelihoods and empowering communities, even if implementation targets certain groups for effectiveness.