571: In the Union Budget 2011-12, a full exemption from the basic customs duty was extended to the bio-based asphalt (bioasphalt). What is the importance of this material?
1. Unlike traditional asphalt, bio-asphalt is not based on fossil fuels.
2. Bioasphalt can be made from non- renewable resources.
3. Bioasphalt can be made from organic waste materials.
4. It is eco-friendly to use bioasphalt for surfacing of the roads.
Which of the statements given above are correct?
(a) 1, 2 and 3 only
(b) 1, 3 and 4 only
(c) 2 and 4 only
(d) 1, 2, 3 and 4
Explanation:
Bioasphalt is an asphalt alternative made from non-petroleum based renewable resources.
These sources include sugar, molasses and rice, corn and potato starches, natural tree and gum resins, natural latex rubber and vegetable oils, lignin, cellulose, palm oil waste, coconut waste, peanut oil waste, canola oil waste, dried sewerage effluent and so on.
Bitumen can also be made from waste vacuum tower bottoms produced in the process of cleaning used motor oils, which are normally burned or dumped into land fills.
Non-petroleum based bitumen binders can be colored, which can reduce the temperatures of road surfaces and reduce the Urban heat islands.
Hence, only statement 1, 3 and 4 are correct.
572: The currency of the proposed European Monetary Union will be
(a) Dollar
(b) Euro
(c) Guilder
(d) Mark
Explanation:
The currency of the proposed European Monetary Union will be 'Euro'.
573: Consider the following statements :
1. Inflation benefits the debtors.
2. Inflation benefits the bond holders
Which of the statements given above is / are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Explanation:
Here statement 1st is true and second is wrong.
Inflation benefits the debtors because value of money decreases over the time and hence debtors gets benefit in case of inflation.
2nd statement is just opposite of 1st statement, here bond issuer will get benefit because when bond holder surrenders his bonds to get back his money, the value of money has gone down due to inflation over the particular period.
Thus bond holder has to bear loss.
574: With reference to Indias Five-Year Plans, which of the following statements is/are correct?
1. From the Second Five-Year Plan, there was a determined thrust towards substitution of basic and capital good industries.
2. The Fourth Five-Year Plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power.
3. In the Fifth Five-Year Plan, for the first time, the financial sector was included as an integral part of the Plan.
Select the correct answer using the code given below:
(a) 1 and 2 only
(b) 2 only
(c) 3 only
(d) 1, 2 and 3
Explanation:
The stated objective of the Second five year plan was rapid industrialisation with particular emphasis on the development of basic and heavy industries - aimed at establishing the Socialistic Pattern of Society.
Fourth five year plan emphasised on reduction of concentration of incomes, wealth and economic power to achieve social equality and justice.
Fifth five year plan aims at removal of poverty and achievement of self-reliance. The Eighth Plan focussed on Financial sector reforms.
Source: http://planningcommission.nic.in/plans/planrel/fiveyr/4th/4ppre.htm
575: With reference to Asian Infrastructure Investment Bank (AIIB), consider the following statements:
1. AIIB has more than 80 member nations.
2. India is the largest shareholder in AIIB.
3. AIIB does not have any members from outside Asia.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Explanation:
The AIIB is a multilateral development bank have now grown to 97 approved members worldwide. Australia, NZ, Qatar, Canada, Cyprus etc are non regional members. Hence statement 3 is not correct. Source AIIB. India is the second largest shareholder of the AIIB. (business standard) India is the largest borrower from Asian Infrastructure Investment Bank
Source: http://pib.nic.in/newsite/PrintRelease.aspx?relid=189031
https://www.aiib.org/en/about-aiib/governance/members-of-bank/index.html