Daily UPSC Prelims Current Affairs – September 09, 2022
1. Consider the following statements regarding economic phenomena:
- Twin deficit refers to a situation where a country faces both fiscal deficit and current account deficit at the same time.
- Twin deficit can result in currency depreciation and the outflow of foreign investment.
- Taper tantrum causes currency appreciation and increased inflow of foreign investment in emerging markets.
Which of the above statements is/are correct?
[A] Only 1
[B] Only 2 and 3
[C] Only 1 and 2
[D] 1, 2 and 3
Show Answer
Correct Answer: C [Only 1 and 2]
Notes:
The twin deficit implies a nation experiencing both fiscal deficit (government spending exceeds revenue) and current account deficit (imports exceed exports). Such deficits can cause loss of investor confidence, currency depreciation, and possible capital outflows. The “taper tantrum” of 2013 led to currency depreciation and capital flight from emerging markets, not appreciation or inflows; thus, statement 3 is incorrect.
2. With reference to the Plastic Waste Management (Amendment) Rules, 2022, consider the following:
- Plastics have been classified into four categories.
- The Rules provide for the sale and purchase of surplus extended producer responsibility certificates.
- The establishment of a centralised online portal by the Central Pollution Control Board (CPCB) is mandated.
Which of the statements given above are correct?
[A] Only 1 and 2
[B] Only 2 and 3
[C] 1, 2 and 3
[D] Only 1 and 3
Show Answer
Correct Answer: C [1, 2 and 3]
Notes:
The Plastic Waste Management (Amendment) Rules, 2022, classify plastics into four categories, permit the sale and purchase of surplus EPR certificates, and require the CPCB to set up a centralised online portal for registration and annual return filing by relevant stakeholders. Thus, all three statements are correct as per the notified guidelines.
3. Consider the following statements:
- Yu Shan is the highest mountain on or adjacent to the Tropic of Cancer.
- Milankovitch cycles describe the collective effects of changes in the Earth’s movements on its climate over thousands of years.
- Mahi River is the only river in India which crosses the Tropic of Cancer twice.
- Null Island is located in the Gulf of Guinea.
Which of the statements given above are correct?
[A] Only 1 & 3
[B] 1, 2, 3 & 4
[C] Only 2, 3 & 4
[D] Only 1, 2 & 4
Show Answer
Correct Answer: B [1, 2, 3 & 4]
Notes:
All statements are correct: Yu Shan is indeed the highest summit on or near the Tropic of Cancer in Taiwan. Milankovitch cycles impact Earth’s climate patterns over millennia. The Mahi River uniquely crosses the Tropic of Cancer twice within India. Null Island, an imaginary point at 0°N 0°E, lies in the Gulf of Guinea where prime meridian and equator intersect.
Originally written on
September 10, 2022
and last modified on
September 10, 2022.
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