Explore topic-wise InterviewSolutions in Current Affairs.

The non-tax revenues of the central government mainly consists of the following: 

1. Interest receipts on account of loans by the central government. 

2. Dividends and profits on investments made by the government. 

3. Fees and other receipts for services rendered by the government. 

4. Grants-in-aid from foreign countries and international organizations.

The proportional income tax acts as an automatic stabilizer because it makes disposable income and consumer spending less sensitive to fluctuations in GDP. When GDP rises, disposable income also i rises but by less than the rise in GDP because a part of it is siphoned off as taxes. This helps to limit the upward fluctuation in consumption spending.

During a recession when GDP falls, disposable income falls less sharply and consumption does not drop as much as it otherwise would have fallen, had the tax liability been fixed. This reduces the fall in aggregate demand and stabilizes the economy.

The non-tax revenues of the central government mainly consists of the following: 

1. Interest receipts on account of loans by the central government. 

2. Dividends and profits on investments made by the government. 

3. Fees and other receipts for services rendered by the government. 

4. Grants-in-aid from foreign countries and international organizations.

As people become more thrifty, they end up saving less or same as before in aggregate, known as paradox of thrift. In other words, if all the people of the economy increase the proportion of income they save, total value of savings in the economy will not increase it will either decrease or remain unchanged. This result is known as the paradox of thrift.

(C) Excise duty

In utility analysis, a consumer is in eq equilibrium, assuming he consumes only two goods X and Y, when

MU_x/P_x=MU_y/P_y

Now suppose Px falls. It makes

MU_x/P_x> MU_y/P_y

Since per rupee MU_x is greater than per rupee MU_y, the consumers will buy more of X. It shows an inverse relationship between the price of X and demand of X.

The practice of shifting cultivation is known as Milpa in Manchuria and Korea.  

The practice of shifting cultivation is called Milpa in Mexico.

An unfavourable change in tastes and preferences of the consumer will cause the demand curve to shift leftwards as demand for the commodity will decrease at the same price.

It is the profit level which is required to cover the explicit cost and opportunity cost.

The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop, or an alternate use of the resources (land and farm equipment). A commuter takes the train to work instead of driving.

cost of a factor in its next best alternate use, which is given up.

payment made by a firm for purchasing or hiring inputs from other firm.

(a) MC=MR=AR (P) (b) MC curve should cut the MR curve from below. 

Repo rate is the rate at which commercial banks can borrow money from RBI to overcome the shortage of money. By varying the repo rates, the RBI can increase or decrease the supply of money. This rate relates to the loan offered by RBI with securities and only short-term borrowings by the commercial banks. 

Repo rate is used as the main instrument of credit control. When the Central Bank raises the repo rate, there will be an increase in the cost of borrowing which reduces commercial banks borrowing from the Central Bank. Consequently, the ow of money from the commercial banks to the public reduces. Therefore, the supply of money reduces and bank credit creation is controlled.

Import Control: Imports may be controlled by:

1. imposing or enhancing import duties 

2. restricting imports through import quotas 

3. licensing and even prohibiting altogether the import of certain non-essential items. But this would encourage smuggling.

Objectives of ASEAN: 

The ASEAN Declaration states the aims and purposes of the Association as:

1. To accelerate the economic growth, social progress and cultural development in the region; 

2. To promote regional peace and stability and adherence to the principles of the United Nations Charter; 

3. To promote cooperation among the members of ASEAN through the exchange of knowledge and experience in the field of public sector auditing. 

4. To provide a conducive environment and facilities for research, training, and education among the members 

5. To serve as a centre of information and as an ASEAN link with other international organizations.

Functions of IBRD (or) World Bank: The World Bank performs the major role of providing loans for development works to member countries, especially to underdeveloped countries. The World Bank provides long term loans for various development projects. Article 1 of the Agreement states the functions performed by the world bank as follows.

(i) Investment for productive purposes: The World Bank performs the function of assisting in the reconstruction and development of territories of member nations through facility of investment for productive purposes. It also encourages the development of productive facilities and resources in less developed countries.

(ii) Balanced growth of international trade: Promoting the long range balanced growth of trade at international level and the maintaining equilibrium in BOPs of member nations by encouraging international investment.

(iii) Provision of loans and guarantees: Arranging the loans or providing guarantees on loans by various other channels so as to execute important projects.

(iv) Promotion of foreign private investment: The promotion of private foreign investment by means of guarantees on loans and other investment made by private investors. The Bank supplements private investment by providing finance for productive purpose out of its own resources or from borrowed funds.

(v) Technical services: The World Bank facilitates different kinds of technical services to the member countries through Staff College and experts.

Methods of Redemption of Public Debt: The process of repaying a public debt is called redemption. The Government sells securities to the public and at the time of maturity, the person who holds the security surrenders it to the Government. The following methods are adopted for debt redemption.

(i) Sinking Fund: 

1. Under this method, the Government establishes a separate fund known as “Sinking Fund”. 

2. The Government credits every year a fixed amount of money to this fund. 

3. By the time the debt matures, the fund accumulates enough amount to pay off the principal along with interest. 

4. This method was first introduced in England by Walpol.

(ii) Conversion:

1. Conversion of loans is another method of redemption of public debt. 

2. It means that an old loan is converted into a new loan. 

3. Under this system a high interest public debt is converted into a low interest public debt. 

4. Dalton felt that debt conversion actually relaxes the debt burden.

(iii) Budgetary Surplus:

1. When the Government presents surplus budget, it can be utilised for repaying the debt. 

2. Surplus occurs when public revenue exceeds the public expenditure. 

3. However, this method is rarely possible.

Water pollution is caused due to several reasons. 

Here are the few major causes of water pollution: 

(i) Discharge of sewage and waste water:

1. Sewage, garbage and liquid waste of households, agricultural runoff and effluents from factories are discharged into lakes and rivers.

2. These wastes contain harmful chemicals and toxins which make the water poisonous for aquatic animals and plants.

(ii) Dumping of solid wastes: The dumping of solid wastes and litters in water bodies cause huge problems.

(iii) Discharge of industrial wastes: Industrial waste contains pollutants like asbestos, lead, mercury, grease oil and petrochemicals, which are extremely harmful to both people and environment.

(iv) Oil Spill: Sea water gets polluted due to oil spilled from ships and tankers while travelling. The spilled oil does not dissolve in water and forms a thick sludge polluting the water.

(v) Acid rain:

1. Acid rain is pollution of water caused by air pollution. 

2. When the acidic particles caused by air pollution in the atmosphere mix with water vapor, it results in acid rain.

(vi) Global warming: Due to global warming, there is an increase in water temperature as a result aquatic plants and animals are affected.

(vii) Eutrophication:

1. Eutrophication is an increased level of nutrients in water bodies. 

2. This results in bloom of algae in water.

3. It also depletes the oxygen in water which negatively affects fish and other aquatic animal population.

Causes for the Increase in Public debt: The causes for enormous growth of public debt may be studied under the following sub-headings: 

1. War and Preparation of war: Waging war has become one of the important causes for incurring debts by the governments. In modem times, the preparation for war and nuclear defence programmes take away the major share of the government’s revenue and so it incurs debt.

2. Social obligations: Modem states are considered to be ‘Welfare States and they have to undertake many social obligations like public health, sanitation, education,insurance, transport and communications, etc., besides providing the minimum necessaries of life to the citizens of the country. To finance these, the State has to incur a heavy public debt.

3. Economic Development and Deficit: The government has to undertake many projects for economic development of the country. Construction of railways, power projects, irrigation projects, heavy industries, etc., could be thought of only by means of mobilising resources in the form of public debt. Due to heavy public expenditure, the governments always face deficit budget. Such deficits have to be financed only through borrowings.

4. Employment: Most of the governments of modem days face the problem of unemployment and it has become the duty to solve this by making huge public expenditure. To solve the unemployment problem, and to fight recession, the government has to make huge expenditures. For this the States have to resort to public debt.

5. Controlling inflation: The Government can withdraw excess money from circulation, by raising public debt and thus prevent prices from rising.

6. Fighting depression: During the depression phase, private investment is lacking. The Government applies compensatory public spending by borrowing from internal and external sources.

The land pollution is defined as, “the degradation of land because of the disposal of waste on the land”. Any substance (solid, liquid or gaseous) that is discharged, emitted or deposited in the environment in such a way that it alters the environment causes land pollution. 

Causes of Land Pollution:

(i) Deforestation and soil erosion:

1. Deforestation carried out to create dry lands is one of the major concerns. 

2. Land that is once converted into a dry or barren land, can never be made fertile again, whatever the magnitude of measures to convert it.

(ii) Agricultural activities:

1. With growing human and pet animal population, demand for food has increased considerably. 

2. Farmers often use highly toxic fertilizers and pesticides to get rid off insects, fungi and bacteria from their crops. 

3. However the overuse of these chemicals, results in contamination and poisoning of land.

(iii) Mining activities: During extraction and mining activities, several land spaces are created beneath the surface.

(iv) Landfills: 

1. Each household produces tones of garbage each year due to changing economic lifestyle of the people. 

2. Garbage like plastic, paper, cloth, wood and hospital waste get accumulated. 

3. Items that cannot be recycled become a part of the landfills that cause land pollution.

(v) Industrialization: 

1. Due to increasing consumerism more industries were developed which led to deforestation. 

2. Research and development paved the way for modem fertilizers and chemicals that were highly toxic and led to soil contamination.

(vi) Construction activities:

1. Due to urbanization, large amount of construction activities are taking place. 

2. This has resulted in large waste articles like wood, metal, bricks, plastic. 

3. These are dumped at the outskirts of urban areas that lead to land pollution.

(vii) Nuclear waste:

1. The leftover radioactive materials, harmful and toxic chemicals affect human health. 

2. They are dumped beneath the earth to avoid any casualty.

Effects of Land Pollution: 

(i) Soil pollution:

1. Soil pollution is another form of land pollution, where the upper layer of the soil is damaged. 

2. This is caused by the ovemse of chemical fertilizers, and pesticides. 

3. This leads to loss of fertile land. 

4. Pesticides kill not only pests and also human beings.

(ii) Health Impact:

1. The land when contaminated with toxic chemicals and pesticides lead to problem of skin cancer and human respiratory system. 

2. The toxic chemicals can reach our body through foods and vegetables.

(iii) Cause for Air pollution

1. Landfills and waste dumping lead to air pollution. 

2. The abnormal toxic substances spread in the atmosphere cause transmit respiratory diseases among the masses.

(iv) Effect on wildlife:

1. The animal kingdom has suffered mostly in the past decades. 

2. They face a serious threat with regards to loss of habitat and natural environment. 

3. The constant human activity on land is leaving it polluted, forcing these species to move farther away. 

4. Sometimes several species are pushed to the verge of extinction or disappear due to no conducive environment.

Income method is measured by summing up of all forms of Income.

(c) tax proceeds between the States

Correct option is D) He’s a teacher

The evolution of planning in India is stated below:

(i) Sir M. Vishveshwarya (1934): a prominent engineer and politician made his first attempt in laying foundation for economic planning in India in 1934 through his book, “Planned Economy of India”. It was a 10 year plan.

(ii) Jawaharlai Nehru (1938): set-up “National Planning Commission” by a committee but due to the changes the political era and second World War, it did not materialize.

(iii) Bombay Plan (1940): The 8 leading industrialists of Bombay presented “Bombay Plan”. It was a 15 Year Investment Plan.

(iv) S.N Agarwal (1944): gave the “Gandhian Plan” focusing on the agricultural and rural economy.

(v) M.N. Roy (1945): drafted ‘People’s Plan”. It was aiming at mechanization of agricultural production and distribution by the state only.

(vi) J.P. Narayan (1950): advocated, “Sarvodaya Plan” which was inspired by Gandhian Plan and with the idea of Vinoba Bhave. It gave importance not only for agriculture, but encouraged small and cottage industries in the plan.

(a) Political economy

The book Wealth of Nations' was written by Adam Smith.

(d) micro and macro

(b) General Theory

Correct option is: (D) All of these

(A) The habit of reading books can add to the richness of a child’s life.

(B) Books shouldn’t be linked too closely to the school so as not to create the idea that reading a book is a task, a lesson.

Correct option is: (B) Investment

Given: The difference between two molar specific heat of gas is 8000 J.kg/K and the ratio of two specific heat is 1.65.

Solution: 

Let x and y be molar specific heat of two given gases.
The difference between molar specific heat = 8000 J.Kg/K'

∴ x - y = 8000 ........(1)              (let x > y)
ratio of specific heat is 1.65
∴ x/y = 1.65
⇒ x = 1.65y .......... (2)

Now, putting Eqⁿ(2) in Eqⁿ(1) we get,

1.65y - y = 8000
⇒ 0.65y = 8000
⇒ y = 8000/0.65 = 12307.6923

And, x = 1.65y ⇒ 1.65*12307.6923
x ⇒20307.692295

Thus,

y≈ 12307.69
x≈ 20307.69

Human civilization has made a tremendous progress through many centuries. Yet, even in the 21 st century, in which we have discovered Artificial Intelligence and Robots with A. I , women in some countries and societies are treated as nothing more than women. In India the archaic and often criminal notions of justice and honour, particularly the treatment meted out to women, speak of a society that remains mired in a mediaeval mindset. This is evident judging by news we read daily in newspapers.

Women constitute almost half of our population and are one of the main stakeholders of our society. Women play a great role in the social and family system. A woman dons many roles – as a mother, as a daughter etc. All these roles are respected and dignified.

But, most unfortunately, we always find that women are not treated well and are dishonoured and in India the situation is even worse. Research tells us that India is the worst place for women to live, with rape, poverty and infanticide being rife. Violence against women is rampant all over India. Such violence is a human-rights violation , which include women trafficking, forced marriages, acid burning, dowry and inheritance deaths, genital mutilation, domestic violence and honour killing.

These acts are beyond humanity and condemnable. Women deserve more respect and dignity because they are as equal as men in respect and honour.

The laws and punishment have been ineffective to curb violence against women and equally not ensured their safety and dignity. Only a drastic change in the mind-set of Indian men and in general the Indian society can ensure a safe and dignified life for women in our country.

My hobby is reading. This hobby got started when I was a little boy. I had always wanted my parents to read fairy tales and other stories to me. Now 1 read just about anything that is available. I read story books, magazines, newspapers and any kind of material that I find interesting.

Books provide the reader with so much information and facts. For example, I do not have to catch a disease to know that it can kill me. I know the danger so I can avoid it. Also I do not have to go deep into the jungle to learn about the tiger. I can read all about it in a hook. 

Reading enables me to learn about so many things that I would otherwise not know. I learned about how people lived in bygone days of magic and mystery. I learned about the wonders of the world, space travel, human achievements, gigantic whales, tiny viruses and other fascinating things of our world. It is indeed a good hobby.

Everyday many people are involved in road accidents. Some are killed. Many more are injured or maimed. So it is important for us to learn to use the roads properly and safely. As the roads are very busy nowadays, we should be very careful when crossing one. It is safer to use a pedestrian crossing or an overhead bridge wherever one is available. 

Never cross a road by dashing across it. That is inviting trouble. If there are no crossings, then we must look carefully right and left and cross only when it is safe to do so. It is important that we do not try to get on or off a bus while it is still moving. Using a bicycle can be dangerous too. We must pay attention on the road and never cycle too far out to the middle of the road.

We must obey all traffic rules. Also we must make sure our bicycles are in good condition with working brakes, lights etc. These are something we can do to avoid accidents. The important thing is to stay alert at all times while using the roads.

We must know what is happening around us. In that way we can take necessary action to avoid danger whenever we see one. Road safety is very much up to how we use the roads. Use them carefully and we may be able to use them for a long time,

Correct option is: (D) All of the above

1. capsule

2. stagger

3. reverie

4. lug

5. martyr

6. introvert

7. scree

8. sole

9. overwhelmed

10. boundless

The speaker in the poem does not call his grandmother ‘childish’. According to him she was ‘genius’ because she could climb a tree whether the tree was high or big and spreading. She was skillful and she can climb it very quickly. She could climb the tree tiredlessly even at the age of sixty two. She had this gift and enjoying it though it was unusual. So the speaker considered her to be genius.

The poet wanted to sing about the achievements and progress made by the countrymen. He asks his mother (motherland) if she wished to hear about the dams and lakes, about steel mills or of the atomic age, the mother asks him to sing songs about ‘strikes’ and about the leaders who emerged after such ‘strikes’ (revolutions).

So the poet asks her in a querulous (complaining) voice if there were no songs which he could sing for her that he could sing whole – heartedly, a song that is pure and which will remain in memory for a longtime

In spite of his disability Satish was fond of painting. He remained in his silent world. The only comfort in his life was painting. Though his father was opposed, but he managed to paint and draw. At last his father accepted his son’s talent and wish to become an artist Satish Gujral. Satish had a very good skill in painting. 

He did his painting with devoted and dedicated interest. He got much pleasure in painting. One day though Satish knew his father was not pleased with his painting pastime, he was immersed and busy in painting. By seeing all these, his father’s attitude was completely changed and accepted his, son’s talent and encouraged him to be a good artist.

1. maestro

2. tempest

3. whisper

4. fiance

5. patriot

(C)  patience

The patience of the earth is highlighted with the repetition of the word “wait” five times in the poem. Though the man exploits the land, the earth patiently tolerate man’s deeds. Here the Earth exhibits her patience which is unchallengeable. Her limit of patience is maximum.

1. create, credit, creep, crest 

2. hole, hollow, horse, house 

3. medal, media, meek, meet 

4. palace, pale, pamper, pan 

5. redeem, redial, redraw, reduce

 6. sign, signal, signature, signify 

7. streak, streaming, streamline, street

1. tone, tongue, tonight, tonne 

2. vice, vicinity, vicious, victim 

3. workable, workbook, worker, workforce

4. pole, police, polish, polite 

5. lamb, lament, laminate, lamp 

6. flourish, follow, forbid, forget 

7. trade, train, tremor, trend.

1. Encyclopaedia 

2. Dictionary

 3. Thesaurus 

4. Encyclopaedia 

5. Atlas 

6. Atlas 

7. Dictionary

 8. Encyclopaedia