UPSC Essentials | Daily subject-wise quiz : Economy MCQs on Graphite production, NITI Aayog’s SDG India Index and more (Week 67)

1. Graphite in India is largely concentrated in Arunachal Pradesh, Jammu & Kashmir, and Jharkhand.

2. In FY 2022, India produced less graphite than it imported.

3. Australia holds significant reserves of vein graphite, a highly pure form of natural graphite that is only found on the island nation.

How many of the statements given above are correct?

(a) Only one

(b) Only two

(c) All three

(d) None

Explanation

— The Ministry of Mines hosted two meetings with industry stakeholders to discuss opportunities for the mining of critical minerals by Indian companies in Sri Lanka and Australia.

— These meetings were organised in line with the ministry’s broader push to strengthen India’s critical minerals supply chain through the acquisition of overseas mineral assets.

— Sri Lanka holds significant reserves of vein graphite, a highly pure form of natural graphite that is only found on the island nation. Hence, statement 3 is not correct.

— India’s interest in Sri Lanka’s graphite coincides with the Sri Lankan government’s active pursuit of Indian companies for graphite mining in the country.

— Graphite mining in Sri Lanka peaked during the two World Wars in the 20th century, hitting over 30,000 tonnes in annual exports. In 2023, however, the country only exported graphite weighing around 2,500 tonnes and valuing roughly $6 million. Sri Lanka has graphite reserves of around 1.3 million tonnes, as per data with the US Geological Survey.

— In India, the graphite is largely concentrated in Arunachal Pradesh, Jammu & Kashmir, and Jharkhand, with these three states collectively accounting for 74 per cent of India’s graphite resources. However, only Tamil Nadu, Jharkhand, and Odisha have graphite reserves, which are measured resources that are economically viable to extract. Hence, statement 1 is correct.

— In FY22, India produced 57,264 tonnes of graphite and imported 54,052 tonnes from countries like China, Madagascar, and Mozambique. Hence, statement 2 is not correct.

— Graphite is a critical mineral that is extensively used as the anode material in lithium-ion batteries. By weight, graphite is typically the largest component in lithium-ion batteries, with up to 70 kilograms of graphite used in an average electric vehicle (EV).

Therefore, option (a) is the correct answer.

QUESTION 2

With reference to the NITI Aayog’s SDG India Index 2023-24, consider the following statements:

1. India’s SDG score degraded in 2023-24 from 2020-21.

2. Tamil Nadu and Gujarat have acquired a top spot among states in the Index.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Explanation

— Uttarakhand and Kerala have taken the top spot among states in NITI Aayog’s SDG India Index 2023-24, which assesses sustainable development across states on the basis of the United Nations’ Sustainable Development Goals (SDG). Hence, statement 2 is not correct.

— India’s SDG score improved to 71 points in 2023-24 from 66 points in 2020-21, supported by progress made in poverty reduction, economic growth, and climate action. Hence, statement 1 is not correct.

— The SDG India Index evaluates progress made across 16 goals on a scale of 1 to 100.

— Kerala and Uttarakhand were the best performing states with a score of 79 points each, while Bihar emerged as a laggard with 57 points, followed by Jharkhand at 62 points.

— The SDGs are a set of interconnected global goals established by the United Nations to be achieved by 2030. The latest SDG India Index is in its fourth edition and relies on 113 indicators to assess a state’s performance.

Therefore, option (d) is the correct answer.

QUESTION 3

With reference to the remittance flows to India, consider the following countries:

1. Singapore

2. U.A.E.

3. U.S.A.

What is the correct order of these countries in the decreasing order of their contribution to India’s remittance?

(a) 2— 1— 3

(b) 3— 2— 1

(c) 1— 2— 3

(d) 2— 3— 1

Explanation

— India received USD 120 billion in remittances in 2023, which is almost twice of USD 66 billion received by Mexico during the same period, the World Bank said in a report.

— “Growing at 7.5 per cent, remittance flows to India touched USD 120 billion in 2023, reflecting the benefits of a deceleration in inflation and strong labour markets in the United States, the largest destination for India’s skilled migrants, and other OECD destinations, as well as positive demand for skilled and less-skilled workers in the GCC countries (which, together, are the second largest destination for Indian migrants),” the World Bank said.

— According to the World Bank, remittance flows to India from the United Arab Emirates, which account for 18 per cent and are the second largest source of India’s remittances after the United States, benefited from the February 2023 agreement.

— The use of dirhams and rupees in cross-border transactions is instrumental in channelling more remittances through formal channels. In addition to the United Arab Emirates, Saudi Arabia, Kuwait, Oman, and Qatar account for 11 per cent of India’s total remittances.

— India’s efforts to link its Unified Payments Interface with source countries such as the United Arab Emirates and Singapore are expected to reduce costs and speed up remittances.

— The correct order of the countries in decreasing order of their contribution to India’s remittance is the United States, United Arab Emirates and Singapore.

Therefore, option (b) is the correct answer.

QUESTION 4

Consider the following crops:

1. Paddy

2. Wheat

3. Coffee

4. Raw Jute

5. Sunflower

How many of the above crops have the Minimum Support Price (MSP)?

(a) 1, 2, 3, 4 and 5

(b) 1, 2, 3 and 5 only

(c) 1, 2 and 4 only

(d) 1, 2, 4 and 5 only

Explanation

— Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices.

— The MSPs are announced by the Union government and as such, it is the government’s decision. However, the government largely bases its decision on the Commission for Agricultural Costs and Prices (CACP) recommendations.

— The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops.

— During each cropping season, the government announces minimum support prices for 23 crops.

— MSPs provide a floor for market prices, and ensure that farmers receive a certain “minimum” remuneration so that their costs of cultivation (and some profit) can be recovered.

— Crops covered by MSPs include:

(i) 7 types of cereals (paddy, wheat, maize, bajra, jowar, ragi and barley).

(ii) 5 types of pulses (chana, arhar/tur, urad, moong and masur).

(iii) 7 oilseeds (rapeseed-mustard, groundnut, soyabean, sunflower, sesamum, safflower, nigerseed).

(iv) 4 commercial crops (cotton, sugarcane, copra, raw jute).

Therefore, option (d) is the correct answer.

Other Source: (vikaspedia.in)

QUESTION 5

Non Fungible Tokens (NFTs) are gaining massive popularity now because they are becoming an increasingly popular way to showcase and sell your digital artwork. The NFTs work on the principle of:

(a) Machine Learning

(b) Artificial Intelligence

(c) Blockchain technology

(d) Augmented reality

Explanation

— NFTs are defined as anything that can be converted into digital forms like your drawings, photos, videos, GIFs, music, in-game items, selfies, and even a tweet that can be turned into an NFT, which can be traded online using cryptocurrency.

— The unique feature of NFTs is that they are backed by blockchain technology. Terra Nulius was the first NFT on Ethereum Blockchain.

— NFTs are gaining massive popularity now because they are becoming an increasingly popular way to showcase and sell your digital artwork.

— NFT works on blockchain as it gives users complete digital asset ownership.

— An NFT is thus created, or as crypto enthusiasts say it is “minted”, to get exclusive ownership rights. NFTs can have only one owner at a time.

Therefore, option (c) is the correct answer.

Previous Daily Subject-Wise-Quiz

Daily subject-wise quiz — Polity and Governance (Week 67)

Daily Subject-wise quiz — History, Culture, and Social Issues (Week 67)

Daily subject-wise quiz — Environment, Geography, Science and Technology (Week 67)

Daily subject-wise quiz — Economy (Week 66)

Daily subject-wise quiz – International Relations (Week 66)

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