QUIZ – 2017: Insights Current Affairs Quiz, 07 March 2017

Solution: a.

• Peoples Research on India’s Consumer Economy (PRICE) is an independent, not-for-profit research centre, a ‘think tank’ and ‘facts tank’ engaged in building and disseminating seminal knowledge and insights about India’s Macro Consumer Economy and Citizen’s Environment, for use in formulating public policy and in shaping business strategy.
• The core of PRICE’s work focuses on “how India, earns, spends, saves, lives, thinks, accesses public goods and amenities”.
• The survey name has “360°” mentioned in it. You could guess that the scope of the survey must then be wide, and not just restricted to two themes. ICE 360° stands for “Household Survey on India’s Citizen Environment & Consumer Economy” (ICE 360° Survey, 2016).
• “The survey is designed to be multi-dimensional and goes beyond incomes and savings. It also takes a deeper look at the economic and social well-being of Indian households, provides normative measures of social, political and financial inclusion, degree of access to public goods and infrastructure and welfare measures of the government”. The point for you to be aware of, is that this is a multi-dimensional survey, that’s all.

About ICE 360°;

Improvisation: TH: All those who are out of the tax net;

Ans: d.

Indian Ocean Rim Association (IORA), the apex pan-Indian Ocean multilateral forum, has identified six priority areas namely,

• Maritime Security,
• Trade and Investment facilitation,
• fisheries management,
• disaster risk reduction,
• academic and scientific cooperation and
• tourism promotion and cultural exchanges.”

2015: PIB;

IE: Choppy waters, unsure navigator;

Solution: d.

China is not a member. “It was India that took the diplomatic initiative at the beginning of this decade to revive the moribund idea of Indian Ocean regionalism. That move suggested that Delhi’s sea-blindness was finally giving way to a belated recognition of the nation’s maritime imperative. India’s growing sea-borne trade and a historic power shift in the Indian Ocean compelled Delhi to pay greater attention to securing a sustainable regional order in the vast littoral.”

Wikipedia: IORA;

IE: Choppy waters, unsure navigator;

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Solution: c.

CSO, MoSPI;

Improvisation: TH: Cracking the GDP mystery;

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Solution: c.

• The TIR Convention is an international transit system under the auspices of the United Nations Economic Commission for Europe (UNECE) to facilitate the seamless movement of goods within and amongst the Parties to the Convention. At present there are 70 parties to the Convention, including the European Union.
• By joining the convention, the need for inspection of goods at intermediate borders as well as physical escorts en route shall be obviated due to reciprocal recognition of Customs controls. Customs clearance can take place at internal Customs locations thereby avoiding clearances at Border Crossing Points and ports that may often be congested.
• The TIR carnet also serves as a Customs declaration, and hence it precludes the need to file multiple declarations satisfying national laws of the different transiting countries.
• The TIR Convention can be an instrument for movement of goods along the International “North-South” Transport (INSTC) Corridor and would be helpful in boosting trade with the Central Asian Republics and other Commonwealth of Independent States (CIS), particularly using ports in Iran like the Chabahar port.

PIB;

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