December 22, 2023 | Your One-Stop Solution for Daily Preparation
International Monetary Fund | Explained
Discover the pivotal role of the International Monetary Fund (IMF) in global finance. Unveil its essential functions in ensuring stability, fostering growth, and providing financial aid worldwide. This blog offers insights into the IMF's structure, member dynamics, and recent interventions, highlighting its ongoing influence amid the ever-evolving global economic landscape.
Highlights of the Day
1. Kerala Dominates India's Workforce Preference: India Skills Report 2024
Kerala emerges as the top choice for work in India, highlighted by its high ranking in the India Skills Report 2024. The state excels in nurturing talent, with cities like Kochi and Thiruvananthapuram among the preferred work destinations. The report, based on a national employability test of 3.88 lakh youths, reveals Kerala's balanced education approach and robust skill development. It emphasizes the state's prowess in computer skills, employability in the 18-21 age group, and diverse talent concentration. Notably, initiatives like ASAP Kerala have trained over 2.5 lakh students, establishing Kerala as a model for skill development nationwide [1].
2. Arunachal Pradesh: Rare Namdapha Flying Squirrel Rediscovered After 42 Years
After 42 years, the elusive Namdapha flying squirrel reemerges in Arunachal Pradesh's Namdapha Tiger Reserve. Initially described in 1981, sightings ceased, prompting speculation of extinction or misidentification. Aaranyak's team, after numerous expeditions, spotted the creature in April 2022. Led by Firoz Ahmed, the group aims to confirm the species' identity through DNA analysis and herald its rediscovery as a conservation symbol. Distinguished by its ear tufts, this rediscovery, supported by Re:Wild and IUCN's Small Mammal Specialist Group, marks a significant milestone in wildlife conservation within the region [2].
3. Ennore Creek Conservation: Bird Feeding Stations Planned After Oil Spill Impact
Wildlife experts in Ennore Creek, affected by an oil spill, plan bird feeding stations to aid conservation efforts. Amidst the contaminated environment reducing bird populations, Wildlife Trust of India and local groups aim to catch and rehabilitate affected birds. Assessing the impact, they'll use strategic feeding setups to capture sick birds while assisting healthy ones. Despite the oil's short-term impact on fish and the ecosystem, experts foresee a gradual recovery [3].
4. Parliament Passes Bill Simplifying Periodical Registration Process, Embracing Digitalization
The Parliament passed the Press and Registration of Periodicals Bill, 2023, simplifying and digitizing the title and registration process for periodicals, replacing an archaic eight-step system with an online one-step process. The legislation aims to decriminalize certain violations, proposing fines instead of convictions. This move enhances ease of doing business, reducing the registration time from years to 60 days. Small and medium publishers will benefit, no longer needing to file declarations with authorities, streamlining the publication startup process while facilitating printing press operations with simplified intimation requirements [4].
5. Kempegowda International Airport's Terminal 2 Wins UNESCO's Prix Versailles
Kempegowda International Airport's Terminal 2 (T2) in Bengaluru earns UNESCO's Prix Versailles 2023 special prize for interiors, lauded for sustainability and local heritage reflection. The terminal, nicknamed 'Terminal in a Garden,' blends technology with nature, boasting bamboo-clad interiors and expansive green spaces. With a Platinum LEED rating and IGBC Green New Building certification, T2 exemplifies environmental responsibility. Designed for 25 million passengers yearly, T2 merges functionality with captivating aesthetics, promising an unforgettable travel experience [5].
Source: The Hindu
Practice Questions for Prelims
Q1: Among the following statements about El Niño and La Niña phenomena, which is incorrect?
a) El Niño leads to warmer-than-average sea surface temperatures in the central and eastern Pacific Ocean.
b) La Niña results in below-average rainfall in the western Pacific region.
c) El Niño events can contribute to the weakening of the Indian monsoon.
d) La Niña often causes increased hurricane activity in the Atlantic Ocean.
Q2: Match the following pairs related to the architectural styles and corresponding monuments in ancient India:
I. Gupta Architecture A. Brihadeshwara Temple
II. Chola Architecture B. Dashavatara Temple
III. Pallava Architecture C. Shore Temple
a) I-C, II-A, III-B
b) I-B, II-A, III-C
c) I-B, II-C, III-A
d) I-A, II-C, III-B
Q3: Consider the following statements related to the Preamble of the Indian Constitution:
1. It was adopted on 26th November 1949.
2. The term 'secular' was added to the Preamble by the 42nd Constitutional Amendment Act in 1976.
3. It declares India as a sovereign, socialist, secular, and democratic republic.
4. The Preamble is not enforceable in a court of law.
a) Statements 1, 2, and 3 are correct.
b) Statements 2, 3, and 4 are correct.
c) Statements 1, 3, and 4 are correct.
d) All statements are correct.
Q4: Match the following ecosystems with their primary biome characteristics:
1. Tundra A. High precipitation, dense forests
2. Taiga B. Permafrost, low biodiversity
3. Tropical Rainforest C. Extreme temperature variations
4. Temperate Deciduous Forest D. Long, cold winters; coniferous trees
a) 1-B, 2-D, 3-C, 4-A
b) 1-A, 2-D, 3-C, 4-B
c) 1-B, 2-A, 3-C, 4-D
d) 1-B, 2-D, 3-A, 4-C
Q5: Consider the following statements regarding the GST (Goods and Services Tax) in India:
1. The GST Council is a constitutional body chaired by the President of India.
2. The GST was launched in India on 1st July 2017, replacing multiple indirect taxes.
3. The GST regime in India has five tax slabs – 0%, 5%, 12%, 18%, and 28%.
4. Petroleum products are currently under the ambit of GST.
a) Statements 2 and 3 are correct.
b) Statements 2 and 4 are correct.
c) Statements 1, 2, and 3 are correct.
d) Statements 2, 3, and 4 are correct.
Today’s Question for Mains Answer Writing
Assess the IMF's impact on member economies during financial crises. Discuss the effectiveness of IMF policies and suggest improvements for its role in today's global economy.
Need help in writing or evaluation?
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