DAILY CURRENT AFFAIRS QUIZ – 13 November 2024

Answer D

Current Account Deficit (CAD):

• Definition: The current account deficit (CAD) occurs when the value of a country’s imports of goods and services is greater than its exports.
• Significance: CAD, when combined with fiscal deficit, forms twin deficits that can impact the stock market and investors.

2. Fiscal Deficit:

• Definition: Fiscal deficit is the gap between the government’s expenditure requirements and its receipts. It represents the money the government needs to borrow during the year.

3. Implications of CAD:

• Economic Impact: CAD significantly affects the economy, stock markets, and people’s investments.
• Investor Sentiment: A lower CAD can boost investor sentiment and make the country’s currency more attractive to investors.
• Surplus in Current Account: A surplus in the current account indicates money flowing into the country, boosting foreign exchange reserves and the local currency’s value.

4. Recent Status of India’s CAD:

• CAD in 2022-23: The CAD for the first half of 2022-23 was 3.3% of GDP. However, the situation improved in Quarter 3:2022-23 due to lower commodity prices and moderated imports.

5. Negative Effects of CAD on Economy:

• Weaker Currency: When a country’s imports exceed exports, it can lead to a weaker currency value (depreciation), affecting demand for the currency.
• Inflation Impact: Weaker currency makes imports more expensive, contributing to higher inflation and a reduction in purchasing power.
• Debt Accumulation: Inability to finance CAD with foreign investment may lead to borrowing, increasing debt levels and potentially harming the economy.

Answer: (b) They are legally binding agreements among participating nations.

Explanation: Artemis Accords are non-binding principles designed to guide civil space exploration cooperation and do not impose legal obligations on participating nations.

Answer. B

• The Western Ghats hold the record for hosting the greatest quantity of native bird species unique to India.
• The IUCN Red List classifies the Manipur Bush Quail as an ‘Endangered’ species.
• Roughly 12.40% of the world’s bird diversity is found within the borders of India.

Explanation:

Bonn Declaration:

Reducing Environmental Risks from Chemicals: Delegates at the UN Bonn summit have adopted a new framework with the primary objective of reducing environmental risks associated with hazardous chemicals.

Phasing Out Harmful Chemicals at ICCM5: At the fifth International Conference on Chemicals Management (ICCM5), participating countries made commitments to gradually phase out the most dangerous chemicals.

Global Framework on Chemicals: The Global Framework on Chemicals establishes specific targets and guidelines covering the entire lifecycle of chemicals.

Phasing Out Agricultural Pesticides:The framework aims to eliminate lethal agricultural pesticides by the year 2035.

Ans. b

Explanation:

• Statement 1 is incorrect. While the Himalayan brown bear is the largest mammal found in Kashmir, but It is considerably smaller than the Grizzly and the Kodiak bears.
• Statement 2 is correct. The passage specifies the distribution of the Himalayan brown bear across regions in northern Afghanistan, northern Pakistan, northern India, western China, and Nepal.