[Mission 2022] QUIZ – 2021: Insights Current Affairs Quiz , 20 April 2022 – INSIGHTSIAS

Solution: a)

Coal releases almost twice the amount of carbon dioxide relative to natural gas, on a kilogram-to-kilogram basis.

At the 26th session of the Conference of the Parties (COP 26) to the UNFCCC, countries agreed to phase down rather than phase out the use of coal.

India would have a renewable energy target of 500 GW by 2030 and meet 50% of its energy needs from renewable sources by 2030.

Solution: b)

Inverted duty structure is a situation where import duty on finished goods is low compared to the import duty on raw materials that are used in the production of such finished goods.

For example, suppose the tariff (import tax) on the import of tyres is 10% and the tariff on the imports of natural rubber which is used in the production of tyres is 20%; this is a case of inverted duty structure.

When the import duty on raw materials is high, it will be more difficult to produce the concerned good domestically at a competitive price. Several industries depend on imported raw materials and components. High tax on the raw materials compels them to raise price.

The disadvantage of the inverted duty structure increases with the increased use of imported raw materials. An inverted duty structure discourages domestic value addition.

On the other hand, foreign finished goods will be coming at a reduced price because of low tax advantage. In conclusion, manufactured goods by the domestic industry becomes uncompetitive against imported finished goods. In such a case, even foreign investors would not be interested in setting up a firm for production in the country.

Statement 3: It will be just the opposite.

Solution: d)

Formic acid, systematically named methanoic acid, is the simplest carboxylic acid. It is an important intermediate in chemical synthesis and occurs naturally, most notably in some ants.

Solution: a)

FCI procures grains from farmers at an economic cost of almost ₹27 a kg for wheat and ₹37 for rice, and then provides it to 80 crore poor people through the public distribution system (PDS) at the subsidised rates of ₹2 a kg for wheat and ₹3 for rice. However, for several years, the budgetary allocation for PDS has not been sufficient to cover FCI’s subsidy costs, forcing it to borrow from the National Small Savings Fund (NSSF) at a rate of about 8%.

Solution: c)

New Zealand plans to ban young people from ever buying cigarettes in their lifetime in one of the world’s toughest crackdowns on the tobacco industry.

The New Zealand government said while existing measures like plain packaging and levies on sales had slowed tobacco consumption, the tougher steps were necessary to achieve its goal of fewer than 5% of the population smoking daily by 2025.

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