Q.1 Which of the following statements is/are true under the United Nations Convention on the Law of the Sea (UNCLOS) ? 1. The Exclusive Economic Zone (EEZ) of a state shall not exceed 250 nautical miles. 2. All states enjoy freedom of navigation and over flight through the EEZ of other state. 3. Only the coastal state can build artificial islands and structures in its EEZ. Which of the above statements are correct ? A) 1 & 3 B) 1 & 2 C) 2 & 3 D) 3 only Ans. D
Some of the key features of the Convention are the following:
* Coastal States exercise sovereignty over their territorial sea which they have the right to establish its breadth up to a limit not to exceed 12 nautical miles; foreign vessels are allowed "innocent passage" through those waters;Q.2 Which ministry is responsible for administration of Insecticide Act 1968? A) Ministry of Law and Justice B) Ministry of Agriculture C) Ministry of Health D) Ministry of Heavy Industries and Public Enterprises Ans. B Q.3 Which one among the following is not a major reason for the deceleration of growth in Indian economy since 2011-2012? A) High inflation following the monetary and fiscal stimulus during the global recession B) Decline in investment in infrastructure due to high interest rate C) Slowing down in population growth rate leading to erosion of demographic dividend D) Slowing global economy leading to fall in exports Ans. B Q.4 The decision of government of India to allow oil companies to increase the price of the diesel in small increments at regular intervals will have the impact of A) Widening fiscal deficit B) Increase in demand for diesel cars C) Lowering the price of consumer goods D) Reducing the amount of subsidies in the Union Budget Ans. D Q.5 Which one among the following is not true regarding the nature of savings in India? A) savings comes from three sources, viz., households, private corporate sectors and the public sector B) In recent years public sector is the largest source of savings in India C) Savings rate has been more than 30% of GDP during the last 10 years D) The share of private corporate sector in savings in India is on the increase during the last 10 years Ans. B
* Ships and aircraft of all countries are allowed "transit passage" through straits used for international navigation; States bordering the straits can regulate navigational and other aspects of passage;
* Archipelagic States, made up of a group or groups of closely related islands and interconnecting waters, have sovereignty over a sea area enclosed by straight lines drawn between the outermost points of the islands; the waters between the islands are declared archipelagic waters where States may establish sea lanes and air routes in which all other States enjoy the right of archipelagic passage through such designated sea lanes;
* Coastal States have sovereign rights in a 200-nautical mile exclusive economic zone (EEZ) with respect to natural resources and certain economic activities, and exercise jurisdiction over marine science research and environmental protection;
* All other States have freedom of navigation and overflight in the EEZ, as well as freedom to lay submarine cables and pipelines;
* Land-locked and geographically disadvantaged States have the right to participate on an equitable basis in exploitation of an appropriate part of the surplus of the living resources of the EEZ's of coastal States of the same region or sub-region; highly migratory species of fish and marine mammals are accorded special protection;
* Coastal States have sovereign rights over the continental shelf (the national area of the seabed) for exploring and exploiting it; the shelf can extend at least 200 nautical miles from the shore, and more under specified circumstances;
* Coastal States share with the international community part of the revenue derived from exploiting resources from any part of their shelf beyond 200 miles;
* The Commission on the Limits of the Continental Shelf shall make recommendations to States on the shelf's outer boundaries when it extends beyond 200 miles;
* All States enjoy the traditional freedoms of navigation, overflight, scientific research and fishing on the high seas; they are obliged to adopt, or cooperate with other States in adopting, measures to manage and conserve living resources;
* The limits of the territorial sea, the exclusive economic zone and continental shelf of islands are determined in accordance with rules applicable to land territory, but rocks which could not sustain human habitation or economic life of their own would have no economic zone or continental shelf;
* States bordering enclosed or semi-enclosed seas are expected to cooperate in managing living resources, environmental and research policies and activities;
* Land-locked States have the right of access to and from the sea and enjoy freedom of transit through the territory of transit States;
* States are bound to prevent and control marine pollution and are liable for damage caused by violation of their international obligations to combat such pollution;
* All marine scientific research in the EEZ and on the continental shelf is subject to the consent of the coastal State, but in most cases they are obliged to grant consent to other States when the research is to be conducted for peaceful purposes and fulfils specified criteria;
* States are bound to promote the development and transfer of marine technology "on fair and reasonable terms and conditions", with proper regard for all legitimate interests;
* States Parties are obliged to settle by peaceful means their disputes concerning the interpretation or application of the Convention;
* Disputes can be submitted to the International Tribunal for the Law of the Sea established under the Convention, to the International Court of Justice, or to arbitration. Conciliation is also available and, in certain circumstances, submission to it would be compulsory. The Tribunal has exclusive jurisdiction over deep seabed mining disputes.
In India, the biggest source of savings is the household sector, followed by the private corporate sector and the public sector.Q.6 Consider the following statements regarding balance of payments of India during 2011-12 are correct? 1. Trade balance, which is defined as exports minus imports of goods and services was negative 2. Net invisibles , which includes remittances from Indians settled abroad, was positive 3. Net Foreign Direct Investment was negative Select the correct answer using the code given below : A) 1, 2 and 3 B) 1 and 2 only C) 2 only D) 1 and 3 only Ans. D
Highlights of BoP during January-March (Q4) of 2012-13Q.7 The BASIC group of industries mainly coordinates their policies and stances related to A) Maritime security B) Climate change C) UN reform D) Financial stability Ans. D
• India’s current account deficit (CAD) moderated sharply to 3.6 per cent of GDP in Q4 of 2012-13 from a historically high level of 6.7 per cent of GDP in Q3 of 2012-13 as trade deficit narrowed.
• Merchandise exports (BoP basis) increased by 5.9 per cent in Q4 of 2012-13 as compared with 2.6 per cent in Q4 of 2011-12.
• Merchandise imports recorded a marginal decline of 1.0 per cent in Q4 of 2012-13 as against an increase of 22.6 per cent in Q4 of 2011-12. Essentially non-oil non-gold component of imports showed a decline, reflecting slowdown in domestic economic activity.
• As a result, trade deficit narrowed to US$ 45.6 billion in Q4 of 2012-13 from US$ 51.6 billion in Q4 of 2011-12.
• Net invisibles, however, recorded a decline of 7.7 per cent in Q4 of 2012-13 as compared to a growth of 27.5 per cent in Q4 of 2011-12 on account of decline in net services, transfers and income receipts.
• Net capital inflows under financial account moderated in Q4 of 2012-13 largely due to slowdown in net portfolio investment and net repayment of loans by banks and corporate. However, net capital inflows were more than adequate to finance CAD, resulting in accretion of US$ 2.7 billion to the foreign exchange reserves.
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