Flash-Cards-for-IAS-Prelims-2018-Revision-Day-57
70 Days WAR Plan

Day#57 Static Flash Cards Revision [70 Days WAR Plan]

Bengal Florican, Great Indian Bustard, Sociable Lapwing and Jerdon’s Courser; Indian Depository Receipts (IDRs); Cambodia; Sensex; Ross Island, Neil Island and Havelock Island; National Disposable Income and Private Income; Zagros mountain; Deficit financing; Galapagos Islands; Bimal Jalan;
By IT's Core Team
May 17, 2019

 

 

 

Government of India has constituted an Expenditure Management Commission which is headed by?

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Answer:

Government of India has constituted an Expenditure Management Commission which is headed by Dr. Bimal Jalan, eminent economist and public policy expert.

Enrich Your Learning:

Expenditure Management Commission:

The Committee has to submit its interim report before the budget of 2015-16 and its final report before the budget of 2016-17.

EMC will look into various aspects of expenditure reforms to be undertaken by the Government such as:

  • Review of the institutional arrangements including budgeting process and Fiscal Responsibility and Budget Management (FRBM) rules,
  • Suggest ways to improve allocative efficiencies in the existing expenditure classification system, and
  • Other issues concerning Public Expenditure Management.

 

 

 

Galapagos Islands are situated in the Atlantic Ocean. Right or Wrong?

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Answer: Wrong

  • The Galápagos Islands, part of the Republic of Ecuador, are located in the Pacific Ocean.

Enrich Your Learning:

Galapagos Islands:

  • The Galápagos Islands, part of the Republic of Ecuador, are an archipelago of volcanic islands distributed on either side of the equator in the Pacific Ocean surrounding the centre of the Western Hemisphere, 906 km west of continental Ecuador.
  • The islands are known for their large number of endemic species and were studied by Charles Darwin during the second voyage of HMS Beagle. His observations and collections contributed to the inception of Darwin’s theory of evolution by means of natural selection.
  • The Galápagos Islands and their surrounding waters form the Galápagos Province of Ecuador, the Galápagos National Park, and the Galápagos Marine Reserve.
  • The islands emerged from the bottom of the sea in the form of astonishing volcanic upheavals.
  • The archipelago consists of 19 islands and dozens of islets and rocks that dot a vast area that covers 45,000 square kilometres.

Galapagos Islands

 

 

 

Deficit financing is the budgetary situation where revenue is higher than the expenditure. Right or Wrong?

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Answer: Wrong

Deficit financing is the budgetary situation where expenditure is higher than the revenue.

Enrich Your Learning:

Deficit financing:

  • It is a practice adopted for financing the excess expenditure with outside resources.
  • The expenditure revenue gap is financed by either printing of currency or through borrowing.
  • Nowadays most governments both in the developed and developing world are having deficit budgets and these deficits are often financed through borrowing.
  • Hence the fiscal deficit is the ideal indicator of deficit financing.
  • In India, the size of fiscal deficit is the leading deficit indicator in the budget.
  • It is estimated to be 3.9 % of the GDP (2015-16 budget estimates).
  • Deficit financing is very useful in developing countries like India because of revenue scarcity and development expenditure needs.
  • Deficit financing, however, may also result from government inefficiency, reflecting widespread tax evasion or wasteful spending rather than the operation of a planned countercyclical policy.
  • Where capital markets are undeveloped, deficit financing may place the government in debt to foreign creditors.
  • In addition, in many less-developed countries, budget surpluses may be desirable in themselves as a way of encouraging private saving.

 

 

 

Which mountain range extends from northwest-southeast from the border areas of eastern Turkey and northern Iraq to the Strait of Hormuz?

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Solution:

  • Zagros Mountains

Enrich Your Learning:

Zagros mountain:

  • The Zagros Mountains are a long mountain range in Iran, Kurdistan and south eastern Turkey.
  • This mountain range has a total length of 1,600 km.
  • The Zagros mountain range begins in north western Iran and roughly follows Iran’s western border, while covering much of south eastern Turkey and north eastern Iraq.
  • From this border region, the range roughly follows Iran’s coast on the Persian Gulf.
  • It spans the whole length of the western and south western Iranian plateau, ending at the Strait of Hormuz.
  • The highest point is Mount Dena.
  • Zagros Mountains, mountain range in south western Iran, extending northwest-southeast from the border areas of eastern Turkey and northern Iraq to the Strait of Hormuz.
  • Situated mostly in what is now Iran, it forms the extreme western boundary of the Iranian plateau, though its foothills to the north and west extend into adjacent countries.

Zagros mountain

 

 

 

What is the difference between National Disposable Income and Private Income?

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Answer:

  • National Disposable Income = Net National Product at market prices + Other current transfers from the rest of the world.
  • Private Income = Factor income from net domestic product accruing to the private sector + National debt interest + Net factor income from abroad + Current transfers from government + Other net transfers from the rest of the world.

Enrich Your Learning:

National Disposable Income:

The idea behind National Disposable Income is that it gives an idea of what is the maximum amount of goods and services the domestic economy has at its disposal. Current transfers from the rest of the world include items such as gifts, aids, etc.

Private Income:

  • Private income is the total of factor incomes and transfer incomes received from all sources by private sector (private enterprise and households) within and outside the country.
  • It also includes net factor income from abroad. Private Sector consists of private enterprises and households (factor owners).
  • Thus, private income consists of not only factor incomes earned within the domestic territory and abroad but also all current transfers from government and rest of the world.
  • In tills way it is the sum of earned incomes and transfer incomes received by private sector.
  • Thus, the concept of private income is broader than that of personal income.

 

 

 

Find out the location of: (1) Ross Island, (2) Neil Island and (3) Havelock Island.

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Solution & Enrich Your Learning:

Ross Island:

  • Ross Island, officially known as Netaji Subhash Chandra Bose Island, is an island of the Andaman Islands.
  • It belongs to the South Andaman administrative district, Andaman and Nicobar Islands.
  • The island is situated 3 km east from central Port Blair.
  • The island belongs to the Port Blair Islands and lies in the entrance of Port Blair.

Neil Island:

  • Neill Island, officially Shaheed Island, is an island of the Andaman Islands, located in Ritchie’s Archipelago.
  • It belongs to the South Andaman administrative district, part of the Indian union territory of Andaman and Nicobar Islands.
  • The island lies 36 km northeast from Port Blair.

Havelock Island:

  • Havelock Island, officially Swaraj Island, is the one of the largest islands that comprise a chain of islands to the east of Great Andaman in the Andaman Islands.
  • It belongs to the South Andaman administrative district, part of the Indian union territory of Andaman and Nicobar Islands.
  • The island is 41 km northeast of the capital city, Port Blair.

Havelock Island

 

 

 

Sensex is the benchmark index of the Bombay Stock Exchange (BSE) or National Stock Exchange of India Limited (NSE)?

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Answer:

Sensex, otherwise known as the S&P BSE Sensex index, is the benchmark index of the Bombay Stock Exchange (BSE) in India.

Enrich Your Learning:

Sensex

  • Sensex comprises 30 of the largest and most actively-traded stocks on the BSE, providing an accurate gauge of India’s economy.
  • The index’s composition is reviewed in June and December each year. Initially compiled in 1986, the Sensex is the oldest stock index in India.
  • Analysts and investors use the Sensex to observe the overall growth, development of particular industries, and booms and busts of the Indian economy.

The constituents of the index are selected by the S&P BSE index Committee based on five criteria:

  • It should be listed in India on BSE,
  • It should be a large-to mega-cap stocks,
  • It should be relatively liquid,
  • It should generate revenue from core activities,
  • It should keep the sector balanced broadly in line with the Indian equity market.

 

 

 

How many countries share border with Cambodia? Give their name.

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Answer:

Cambodia shares land borders with 3 countries: Thailand, Vietnam, Lao People’s Democratic Republic.

Enrich Your Learning:

Location of Cambodia:

  • Cambodia is a country located in the southern portion of the Indochina peninsula in Southeast Asia.
  • It is 181,035 square kilometres in area, bordered by Thailand to the northwest, Laos to the northeast, Vietnam to the east and the Gulf of Thailand to the southwest.

Why in news?

  • For the first time, two leaders of Pol Pot’s Khmer Rouge regime in Cambodia have been convicted of genocide.
  • Pol Pot was a political leader whose communist Khmer Rouge government led Cambodia from 1975 to 1979. During that time, an estimated 1.5 to 2 million Cambodians died of starvation, execution, disease or overwork.

Location of Cambodia

 

 

 

What is India Depository Receipt (IDR)?

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Answer:

The IDR is an instrument denominated in Indian Rupees created by a Domestic Depository to enable foreign companies to raise funds from the Indian Securities Markets.

Enrich Your Learning:

Indian Depository Receipts (IDRs):

  • India Depository Receipt is an instrument in the form of a depository receipt (DR) created by the underlying equity shares of the issuing company.
  • In an IDR, foreign companies would issue shares to an Indian Depository and thus can mobilize funds from India by selling shares.
  • IDR is an opposite case of Global depositary receipt (GDR) or American depositary receipt (ADR).
  • In other words, the IDR is an instrument denominated in Indian Rupees created by a Domestic Depository to enable foreign companies to raise funds from the Indian Securities Markets.

Recent Development:

  • In June 2018, the Securities and Exchange Board of India (SEBI) announced it was currently exploring the possibility of allowing unlisted Indian companies to directly list their equities on overseas exchanges and simultaneously allow foreign companies to list their securities in Indian bourses.
  • While Indian companies are able to issue debt securities (called masala bonds) on international exchanges, the same option is not available for equity shares.
  • The only option currently available to foreign firms looking to do this is via an IDR.
  • Similar to an ADR an IDR can be created via a broker purchasing shares of a foreign company, delivering them to a custodian in their home country, and subsequently prompting a depository bank to issue certificates based on these shares.
  • The National Stock Exchange of India (NSE) was founded in 1992 and started trading in 1994, in contrast with the Bombay Stock Exchange (BSE), which has been in existence since 1875.
  • Both exchanges follow the same trading mechanism, trading hours, and settlement process.

 

 

 

What is the common habitat of Bengal Florican, Great Indian Bustard, Sociable Lapwing and Jerdon’s Courser?

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Answer:

  • Bengal Florican, Lesser Florican, Great Indian Bustard, Sociable Lapwing and Jerdon’s Courser belonged to grasslands and scrub forests.

Enrich Your Learning:

  • In 2014, The Zoological Society of London (ZSL) and Yale University conducted a study of 100 Evolutionarily Distinct and Globally Endangered (EDGE) species worldwide.
  • According to the study, Bengal Florican, Lesser Florican, Great Indian Bustard, Sociable Lapwing and Jerdon’s Courser are birds that are under threat due to the destruction of their habitat of grasslands and scrub forests.
  • The survival of Spoon-billed Sandpiper, Siberian Crane and White-bellied Heron greatly depend on the existence of their wetland habitat.
  • Forest Owlet’s survival is impossible if its habitat of deciduous forests in central India is destroyed.
  • These species were threatened by human factors such as uncontrolled urbanisation, unsustainable industrialisation and rampant use of chemicals in agriculture.
  • Comprehensive conservation action based on in-depth field research is required to save these species from going extinct.
  • These habitats are facing some of the most severe human pressure which endangers the survival of the avian population found there.
  • Birds such as the Bengal Florican, Great Indian Bustard, and Jerdon’s Courser are as vital to the health of grasslands as the tiger is to the forests in which it is found.
  • India has displayed little regard for its grasslands these past decades and it is about time the nation stopped treating these life-saving ecosystems as wastelands.
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