[Mission 2022] Insta– QUED ( Questions from Editorials ) 11 May 2022 – INSIGHTSIAS

Solution: d)

Alternative Investment Funds are an avenue to pool in funds for investing in private equity, real estate or hedge funds.

There are 3 categories of AIFs :

• Category I AIF are those funds that invest in start-ups or social venture funds, infrastructure funds, SME funds, and so on. The government or regulators consider this category of funds as socially viable or economically desirable.
• Category II Funds are those that do not leverage or borrow, other than to meet the day-to-day operational requirements. This category typically consists of Private Equity Funds and Debt funds.
• Category III funds typically comprised of Hedge Funds that employ diverse or complex trading strategies. By investing in listed or unlisted derivatives, AIF managers try to employ leverage.

Solution: c)

The latest Intergovernmental Panel on Climate Change (IPCC) report has warned that ocean warming will continue over the 21st century and is likely to continue until at least the year 2300 even if we minimise carbon emissions.

The amount of ocean warming observed since 1971 will likely at least double by 2100 under a low warming scenario and will increase by 4-8 times under a high warming scenario.

This warming can help create both anoxic (waters that have no dissolved oxygen) and hypoxic (low oxygen concentration) zones. The report adds that these oxygen-deficient areas are expected to persist for thousands of years.

Previous studies have noted that warming oceans can cause stress, decrease the range, increase diseases and even wipe out many commonly eaten fish. Last year, a study noted that future ocean warming and acidification may drag down the commercial Arctic cod fishery by 2100.

Several species were noted to migrate poleward or to deeper waters to stay in their ideal temperature range.

As temperature increases, the demand for oxygen of many fish species will exceed their capacity to extract oxygen from the environment through their gills. As a result, the aerobic capacity of fish decreases in warming waters, and this reduction may be more important in larger fishes.

Solution: c)

A geosynchronous satellite is a satellite in geosynchronous orbit, with an orbital period the same as the Earth’s rotation period.

Different orbits:

• A Geosynchonous Orbit (GEO) takes a satellite around the Earth at a rate of once per day, keeping it roughly in the same area over the ground.
• A Geostationary Orbit (GSO) is a geosynchronous orbit with an inclination of zero, meaning, it lies on the equator.

All geostationary satellites are geosynchronous. Not all geosynchronous satellites are geostationary.

Solution: a)

Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond.

The Parties (57 founding members) to agreement comprise the Membership of the Bank.

• It is headquartered in Beijing.
• It commenced operations in January 2016.

Aim:

By investing in sustainable infrastructure and other productive sectors today, it aims to connect people, services and markets that over time will impact the lives of billions and build a better future.

Membership:

• There are more than 100 members now.
• Not all G-20 nations are the members of AIIB.

Voting Rights:

• China is the largest shareholder with 26.61 % voting shares in the bank followed by India (7.6%), Russia (6.01%) and Germany (4.2 %).

The regional members hold 75% of the total voting power in the Bank.

Solution: c)

In India, the Constitution gives the government the right to levy taxes on individuals and organisations, but makes it clear that no one has the right to levy or charge taxes except by the authority of law. Any tax being charged has to be backed by a law passed by the legislature or Parliament.

Taxes in India come under a three-tier system based on the Central, State and local governments, and the Seventh Schedule of the Constitution puts separate heads of taxation under the Union and State list. There is no separate head under the Concurrent list, meaning Union and the States have no concurrent power of taxation.