UPSC Editorials Quiz : 10 November 2025

Solution: B

• Statement 1 is correct. BRICS Pay utilizes a DAO Governance Model. This is a significant departure from traditional financial institutions, as it promotes decentralised and transparent decision-making, giving all member nations equitable participation rather than control being concentrated among a few powerful entities.
• Statement 2 is incorrect. The stated objective of BRICS Pay is not to replace SWIFT or cause isolation. Instead, it aims to create a resilient alternative architecture to diversify and “democratise” global finance. It seeks to provide a parallel, interoperable system, reducing reliance on a single, centralised system (SWIFT) that can be a single point of failure or political leverage.
• Statement 3 is correct. The mission of BRICS Pay is explicitly aligned with supporting UN SDGs, specifically 1 (No Poverty), 8 (Decent Work and Economic Growth), 9 (Industry, Innovation, and Infrastructure), and 10 (Reduced Inequalities). It achieves this by lowering transaction costs, which promotes inclusive growth and enables better participation of Small and Medium Enterprises (SMEs) in global trade.

Solution: A

• The genesis of the Model Code of Conduct (MCC) dates back to 1960, when it was first introduced as a voluntary set of guidelines by the Election Commission of India (ECI) for the Kerala Assembly elections. This marked the earliest attempt to regulate the conduct of political parties and candidates during the electoral process.
• Its national adoption and circulation to all recognized political parties and states came later, during the 1962 Lok Sabha elections, after which it gained all-party consensus.
• The period post-1991 saw its gradual institutionalization and much stricter enforcement by the ECI to curb electoral malpractices.
• It is crucial to note that the MCC remains a set of guidelines and does not hold statutory backing, although its principles are enforced through existing election laws. The 2013 Supreme Court judgment in the Subramaniam Balaji vs. State of Tamil Nadu case led to a comprehensive revision of guidelines related to election manifestos and the prevention of misuse of freebies.

Solution: D

• The UNEP Emissions Gap Report is an annual assessment published by the United Nations Environment Programme (UNEP). Its central aim is to measure the “gap” between the global community’s projected greenhouse gas emissions (based on current policies and Nationally Determined Contributions – NDCs) and the emissions levels required to align with the 5°C and 2°C Paris Agreement targets. It serves as a scientific call to action for countries to enhance their climate ambitions.

Solution: B

• Statement 1 is correct. The NBS scheme was implemented to move away from the earlier complex product-based subsidy, where the government fixed the MRP and paid the difference. The NBS provides a fixed subsidy based on the content of nutrients (N, P, K, S), not the final product.
• Statement 2 is incorrect. The subsidy under the NBS scheme is not paid to farmers. It is provided to the fertilizer companies, enabling them to sell their products at “reasonable” (and subsidized) rates to farmers. The government provides “transparent and predictable subsidy disbursement to fertilizer companies”.
• Statement 3 is correct. Urea, the most widely used fertilizer, is not part of the NBS scheme. It remains under a separate statutory price control, with its MRP fixed by the government.

Solution: D

• (d) is correct. The Global Financial Stability Report (GFSR) is the IMF’s flagship publication that assesses the stability, risks, and vulnerabilities of the global financial system. It covers financial markets, banking systems, regulatory challenges, and potential threats to financial stability.