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Indian Express
22-05-2025
- Business
- Indian Express
Daily subject-wise quiz : Economy MCQs on Amrit Bharat Station Scheme, fiscal deficit and more (Week 111)
UPSC Essentials brings to you its initiative of subject-wise quizzes. These quizzes are designed to help you revise some of the most important topics from the static part of the syllabus. Attempt today's subject quiz on Economy to check your progress. 🚨 Click Here to read the UPSC Essentials magazine for May 2025. Share your views and suggestions in the comment box or at With reference to the Least Developed Countries, consider the following statements: 1. They are low-income countries confronting severe structural impediments to sustainable development. 2. The Least Developed Countries (LDCs) are reviewed every five years by the Committee for Development (CDP). 3. They are less vulnerable to economic and environmental shocks. How many of the statements given above are correct? (a) Only one (b) Only two (c) All three (d) None Explanation — With Bangladesh set to graduate from the United Nations' Least Developed Country (LDC) category in November 2026, ending duty-free access to export markets such as the European Union and posing new challenges, the country has begun a sharp economic pivot away from New Delhi and towards Beijing, straining trade ties with India. — Least developed countries (LDCs) are low-income countries that face significant structural barriers to sustainable development. Hence, statement 1 is correct. — They are extremely sensitive to economic and environmental shocks, with low levels of human capital. Hence, statement 3 is not correct. — The Committee for Development (CDP) reviews the list of LDCs every three years and currently includes 44 nations. Hence, statement 2 is not correct. — LDCs have unique access to certain international support measures, particularly those related to development assistance and trade. Therefore, option (a) is the correct answer. (Other Source: With reference to the Suez Canal, which of the following statements is/are correct? 1. Nearly 30 per cent of global container traffic flowed through the Suez Canal before the Houthi attacks began. 2. In 2024-25, the Suez Canal's daily transit trade increased compared to 2023-24. 3. It accounts for 8-9 per cent of global energy flows. 4. The shipping costs in the Suez Canal region soared to almost double. Select the correct answer using the codes given below: (a) 1 and 2 only (b) 1 and 3 only (c) 2, 3 and 4 (d) 1, 3 and 4 Explanation — Egypt's Suez Canal Authority (SCA) is offering a 15 per cent discount on transit fee to cargo ships of minimum 130,000 mt capacity, underscoring the impact that the Red Sea security crisis has had on the waterway critical to the shortest maritime route to the Mediterranean Sea and beyond from the Arab Peninsula, North-East Africa, and the Arabian Sea. — According to IMF data, the Suez Canal accounts for approximately 12-15% of global trade. Prior to the Houthi strikes, the Suez Canal handled about 30% of all worldwide container traffic. It is also a critical route for 8-9 percent of world energy flows. Hence, statements 1 and 3 are correct. — According to data from PortWatch, a live conflict tracker maintained by the IMF and Oxford University, the Suez Canal's daily transit trade volume (TTV) was 484,137 mt on May 11, 2025, compared to 1,349,086 mt the previous year. TTV refers to the total volume of goods transported along a shipping route. Hence, statement 2 is not correct. — Shipping prices in the Suez Canal region increased by 180 percent over the time under review. India, like many other countries, relied primarily on the Red Sea shipping route for exports to Europe, with the Suez Canal handling approximately 80% of the quantities. Hence, statement 4 is correct. — The movement of trade flows from the Red Sea to the route around Africa has clearly impacted Indian exporters, reducing margins since they now have to fight with increased freight charges for exports to Europe and elsewhere. Therefore, option (d) is the correct answer. With reference to the Amrit Bharat Station Scheme, consider the following statements: 1. It is a long-term plan to improve railway stations across India. 2. The scheme focuses on upgrading the station buildings, connecting both sides of the city through the station, and linking stations with other transport options like buses and metros. 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 — Under the Amrit Bharat Station Scheme, Prime Minister Narendra Modi inaugurated 103 refurbished railway stations in 86 districts across 18 states and union territories. He also launched a new weekly train between Bandra Terminus in Mumbai and Bikaner Station in Rajasthan. — The Amrit Bharat Station Scheme is a long-term initiative that would gradually renovate railway stations across India. Under this method, precise blueprints are created for each station, and construction is completed in stages based on what each station requires. Hence, statement 1 is correct. — The goal is to make the stations cleaner, more pleasant, and easier to use. This involves improving access and departure locations, waiting areas, restrooms, platforms, and roofing. Lifts, escalators, and free Wi-Fi are introduced as needed. — The Amrit Bharat Mission program also focusses on station construction upgrades, connecting both sides of the city via the station, and connecting stations to other modes of transportation such as buses and metros. Hence, statement 2 is correct. — The Amrit Bharat Stations program dates back to 2021, when Gandhinagar became the first railway station to undergo modernisation, complete with all modern amenities and a five-star hotel. Later that year, Rani Kamalapati Railway Station, formerly known as Habibganj, received a new look. Therefore, option (c) is the correct answer. (Other Source: The condition of a high fiscal deficit is reflected by: 1. Government borrowing 2. Higher interest rates 3. Inefficient spending by the government Select the correct answer using the codes given below: (a) 1 and 2 only (b) 3 only (c) 2 and 3 only (d) 1, 2 and 3 Explanation — A significant fiscal deficit can indicate inefficient government expenditure, which can lead to inflationary pressure in the economy. A large fiscal deficit causes the government to borrow more from the market, increasing demand for credit and potentially raising interest rates. — Higher interest rates, in turn, raise firms' borrowing costs, limiting their investments and decreasing overall economic growth. Furthermore, increased debt might limit a government's budget in the long run, jeopardising many growth-related initiatives. As a result, governments must be careful in monitoring their fiscal deficits. Therefore, option (d) is the correct answer. To read more: India's fiscal balancing amid global economic uncertainties Consider the following statements about the Alternate Investment Fund (AIF): 1. These are any funds established or incorporated in India that are privately pooled investment vehicles. 2. These include funds covered under the SEBI. 3. Certain exemptions from registration are provided under the AIF. How many of the statements given above are correct? (a) Only one (b) Only two (c) All three (d) None Explanation — The Reserve Bank of India (RBI) has revised draft guidelines for investments by regulated entities (REs) in Alternative Investment Funds (AIFs), aiming to enhance oversight and prevent potential misuse. — Alternative Investment Fund, or AIF, refers to any fund established or incorporated in India that is a privately pooled investment vehicle that collects funds from sophisticated investors, either Indian or foreign, and invests them in accordance with a defined investment policy for the benefit of its investors. Hence, statement 1 is correct. — AIF does not include funds covered by the SEBI (Mutual Funds) laws, 1996, SEBI (Collective Investment Schemes) Regulations, 1999, or any other Board laws governing fund management operations. Hence, statement 2 is not correct. — Furthermore, the AIF Regulations give exemptions from registration to family trusts established for the benefit of'relatives' as defined in the Companies Act of 1956. Hence, statement 3 is correct. Therefore, option (b) is the correct answer. (Other Source: Daily Subject-wise quiz — History, Culture, and Social Issues (Week 111) Daily subject-wise quiz — Polity and Governance (Week 111) Daily subject-wise quiz — Science and Technology (Week 111) Daily subject-wise quiz — Economy (Week 110) Daily subject-wise quiz — Environment and Geography (Week 110) Daily subject-wise quiz – International Relations (Week 110) Subscribe to our UPSC newsletter and stay updated with the news cues from the past week. Stay updated with the latest UPSC articles by joining our Telegram channel – IndianExpress UPSC Hub, and follow us on Instagram and X.
Qatar Tribune
18-05-2025
- Politics
- Qatar Tribune
Qatar takes part in Everest Dialogue in Nepal
KATHMANDU: The State of Qatar has participated in the Everest Dialogue, a three-day event hosted by Nepal under the theme 'Climate Change, Mountains, and the Future of Humanity'. Special Envoy of the Minister of Foreign Affairs for Climate Change and Sustainability HE Ambassador Bader bin Omar Al Dafa, represented the State of Qatar at the Dialogue. In his opening remarks before the event, Ambassador Al Dafa underlined the State of Qatar's readiness to collaborate with Nepal in the area of climate change, citing the Qatar National Environment and Climate Change Strategy 2021 that sets out Qatar's solutions to climate change effects. During his participation in a session on Food Security and Climate-Resilient Agriculture, Ambassador Al Dafa stressed that climate change is associated with food security challenges, calling for utilizing cutting-edge technologies in this regard. He highlighted the State of Qatar's experience in enhancing agricultural production and the significance of sharing experiences and expertise among nations. He emphasized that donors should fulfill their commitments to support food security and programs and counter climate change effects in the Least Developed Countries (LDCs).
Business Mayor
12-05-2025
- Entertainment
- Business Mayor
PlanetPlay's Play2Act poll finds 79% make positive change after playing green games
PlanetPlay announced that data drawn from a new in-game poll called Play2Act showed evidence that gaming has the potential to incentivize greener habits among gamers. The poll found 79% of respondents who had played games with green messages or environmental content reported making at least one positive behavioral change after playing these games. Among these players, 47% report reducing their environmental impact through energy use or public transport, while 34% report making greener consumption choices. Launched in September 2024, Play2Act is a poll embedded in popular games, designed to explore the role of games in tackling the climate and nature crises. The initiative was developed by PlanetPlay, a not-for-profit platform that contributes to environmental action through games, in collaboration with the United Nations Development Programme (UNDP). Over 181,000 players from 189 countries, including 70 Least Developed Countries or Small Island Developing States, responded to a series of Play2Act survey questions placed in 24 popular games such as Subway Surfers, Beatstar, Pokemon GO! and Avakin Life, among others. The poll leveraged the participating games' reach of 80 million players per week. The questions aimed to collect players' perspectives on their experiences with green games, and their impact on behavior and sentiment toward climate and environmental action. 20 games studios and platforms have participated in the Play2Act initiative, including Actrio, Bandai Namco, CM Games, E-Line Media, Futurevision, Funplus, Hutch, Jagex, Lockwood, Microsoft/Xbox Insider, Niantic, Outplay, Reliance, Rovio, Space Ape Games, SYBO, Ten Square Games, Trailmix, Tripledot and Unity. 'Games are uniquely positioned to engage a vast and diverse audience on environmental issues. Seeing so many players adopt greener habits after engaging with green content is a powerful testament to the impact games can have in shaping a more sustainable future,' said Rhea Loucas, CEO at PlanetPlay, in a statement. 'The Play2Act results prove that when sustainability is embedded into gameplay, it doesn't just inform—it inspires real action.' 'With our game Subway Surfers reaching an extensive global audience, we hold an opportunity and a huge responsibility to understand players' views on climate and nature. We are committed to supporting efforts to protect our planet, ensuring everyone has a voice in this matter. Games can be a powerful tool to amplify climate and environmental action, which is why we actively participate in initiatives like Play2Act', added Matthias Gredal Norvig, CEO of Sybo, in a statement. The Play2Act survey also contributes to the 'Games Realizing Effective and Affective Transformation (GREAT)' project, funded by the European Union Horizon and UK Research and Innovation (UKRI). It aims to engage the gaming community—gamers and studios—in addressing the climate and nature crises by exploring how games can drive social engagement and spark new dialogues for positive change. While participating game studios will further analyze Play2Act survey's data to promote measures and actions within the industry, UNDP aims to use the aggregate results to better understand global opinion on climate and nature action, with a particular interest in the younger generations and the global south. 'More needs to be done to enhance awareness of the climate and nature crises. We must utilize every tool at our disposal to drive meaningful change, and this effort should involve every segment of society, including the private sector and the gaming industry,' said Cassie Flynn, global director of climate change at UNDP, in a statement. 'The Play2Act initiative shows the potential of games — not only as an entertainment tool, but also as platforms for gathering insights and engaging with individuals, especially young people, on a large scale.' PlanetPlay is a not-for-profit platform that empowers gamers worldwide to contribute to environmental action through in-game purchases and gameplay with our affiliated game studios. Alongside the pioneering eco-conscious games marketplace, it is also a movement designed to inspire, educate, and mobilize players to support our planet and its rich diversity of life.
Japan Times
04-04-2025
- Business
- Japan Times
Trump tariffs are a ‘disaster' for world's poorest countries
U.S. President Donald Trump's new reciprocal tariffs are set to hit some of the world's poorest nations the hardest, putting their labor-intensive export industries at risk and diminishing one of the U.S.'s biggest economic advantages over rival China. Cambodia was slapped with Asia's highest tariff rate of 49% in Trump's levies announced Wednesday. Garment manufacturing giant Bangladesh was hit with a 37% rate, while in Myanmar, where a devastating earthquake last week left more than 3,000 dead, the U.S. imposed a 45% duty. The southern African nation of Lesotho received a 50% tariff, the highest of any country. "Oh, look at Cambodia, 97%,' Trump said at the White House, drawing laughter as he pointed to the levy the U.S. is subjected to from the Southeast Asian nation. "They made a fortune with the United States of America.' The average Cambodian earns about $6.65 a day, according to World Bank data, less than a fifth of the global average. The trade action may inflict further economic damage on the world's poorest countries at a time when Trump's administration has axed thousands of key aid contracts that for decades gave the U.S. a presence across the globe. The impact of the gutted aid effort is already being felt in Myanmar and across Africa, while China is seen swiftly filling the void in places like Cambodia. "It's such a disaster,' said Deborah Elms, head of trade policy at the Hinrich Foundation. "Tariffs of nearly 50% overnight will be impossible to manage.' Many of those countries had tariff-free access to the U.S. as Least Developed Countries, she said, adding they may turn to markets in Europe, Japan and Australia in lieu of weak demand in places like China. Vietnamese garment factory workers stitch apparel at a factory in Ho Chi Minh City on Thursday, after U.S. President Donald Trump unveiled sweeping new tariffs on trading partners. | AFP-Jiji The U.S. calculated the rates based on a formula that divides a country's trade surplus with America by its total exports, based on data from the U.S. Census Bureau for 2024. That number was then divided by two, producing the "discounted' rate. The method meant Madagascar, one of the world's poorest countries and the biggest producer of vanilla, was hit with a rate of 47%. Africa impact Parks Tau, South Africa's trade minister, told reporters on Thursday that his team didn't understand how the U.S. assessed that South Africa charges tariffs of 60%, with a 30% tariff to now be levied on Africa's biggest economy in retaliation. Pretoria's own calculations indicated a rate of 7.6%. "We are speculating what the U.S. is calculating this on, we assume it could include the trade balance, it could include other considerations, but at this point we're going to need clarity from the U.S. as to how they arrived at the number,' he said. In 2023, South Africa had a $4.2 billion trade surplus with the U.S., its second-biggest trading partner. Tau said the tariff on neighboring Lesotho "literally will devastate' the country of 2.3 million people that relies on exports of diamonds and clothes. Botswana, which relies almost exclusively on diamond exports, had a 37% tariff slapped on it even as its mines minister was in the U.S. last month promoting sales of the gems in the world's biggest market for them. Ivory Coast, the world's biggest cocoa exporter, now has to contend with a 21% tariff. The move marks an about-face in American trade policy following World War II that promoted economic integration as a means to help developing nations and advance Washington's interests abroad. In 2000, then-President Bill Clinton pushed through the African Growth and Opportunity Act, which provided eligible sub-Saharan African countries with duty-free access for more than 1,800 products. Workers carrying out their duties at a textile factory in Lesotho. The southern African nation received a 50% tariff, the highest of any country. | AFP-Jiji Former President George W. Bush expanded it in 2004 and promoted initiatives that would help countries bring products to U.S. consumers. That program is up for renewal, alteration or termination in September. "African countries are being penalized for having trade surpluses, some of them achieved by pursuing export-driven development policies, as advised by the U.S.,' said Yvonne Mhango, Bloomberg's Africa economist. "Most African countries export raw materials to America. One of Trump's arguments for these tariffs is to bring back manufacturing jobs to the U.S.. Slapping high tariffs on Africa is not going to help.' China influence For many nations, particularly in Asia, the rise of China disrupted their economic dependence on the U.S. Many cultivated ties with Beijing to draw badly needed investment and financing for infrastructure. That left many smaller countries feeling pressured to choose sides. Cambodia, whose two biggest trade partners are China and the U.S., had already been veering toward Beijing, the country's largest source of foreign investment. Most of U.S.-Cambodia total trade of $13 billion last year comprised manufactured goods like clothing and footwear made in Cambodia and sold to American consumers. Cambodia's government spokesman Pen Bona said via text message he couldn't yet comment on the tariff, and the matter was being reviewed. In Bangladesh, which is also heavily reliant on the U.S. market for its garment exports, the government said it's looking at ways to lower tariffs in order to maintain its trade access. "Bangladesh is reviewing its tariffs on products imported from the United States,' said Shafiqul Alam, press secretary to interim leader Muhammad Yunus. "The National Board of Revenue is identifying options to rationalize tariffs expeditiously.' Exporters in Sri Lanka, which suffered a sovereign debt default in early 2022 that triggered the worst economic crisis in the country's post-independence history, meanwhile warned they are unable to absorb the 44% tariff imposed on the island nation. The U.S. is Sri Lanka's largest market, accounting for 23% of total exports in 2024. Analysts questioned the fairness of the U.S. tariff calculations, given the over-sized impact it had on the poorest nations. "In particular, it punishes small developing countries like Cambodia that simply don't have the capacity to buy much from the U.S.,' wrote Tommy Xie, head of Asia macro research at Oversea-Chinese Banking Corp. It could also jeopardize funding from the International Monetary Fund for Sri Lanka, Pakistan and Bangladesh as it will make it harder for them to hit the targets set for them in bailout programs, Ankur Shukla, a Mumbai-based economist for Bloomberg Economics, said in a report. Asian nations are also wary of a flood of cheaper Chinese goods in their markets as a result of the knock-on effects of higher U.S. duties. China was charged a 34% reciprocal tariff rate — stacked on top of 20% duties Trump already imposed this year. "China's attempts to find new markets for goods previously destined to U.S. will have to go somewhere at least in the short term,' said Elms of the Hinrich Foundation. "This is going to set up new tensions with neighbors.'
