IAS Prelims GS Questions and Answers - Dec 23, 2015

ANSWER: None

Explanation:
- The Internal Revenue Service considers bitcoin as property.
- Federal judge considers bitcoin as currency.
- Commodity Futures Trading Commission has decreed Bitcoin is a commodity
- Bitcoin refers to a kind of digital currency where encryption techniques are used for regulation of generation of units of currency and verification of the transfer of funds, operating independently of a central bank.

ANSWER: Afghanistan

Explanation:
- Afghanistan has become the 164th WTO member
- It has became the 36th least developed country (LDC)to join the global trade body after 11 years of negotiations.

ANSWER: Only 1

Explanation:
- Ministerial Conference usually meets every two years. It brings together all members of the WTO, all of which are countries or customs unions.
- The 10th ministerial conference took place in Nairobi, Kenya in 2015.
- WTO commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT).
- Belarus remains one of the very few countries in the world that does not belong to the WTO. To name but two issues, the overwhelming role of the state in the economy and its extensive agricultural subsidies are the clearest obstacles for Belarus' accession to the WTO.

ANSWER: Only 1

Explanation:
- The Fortaleza summit in 2014 resulted in the official inauguration of the New Development Bank
- The inaugural BRICS summit took place in Yekaterinburg, Russia in 2009.
- NDB is headquartered in Shanghai, Beijing

ANSWER: None

Explanation:
- The Chief Information Commissioner and Information Commissioners are appointed by the President on the recommendation of a committee consisting of—
1. The Prime Minister, who shall be the Chairperson of the committee;
2. The Leader of Opposition in the Lok Sabha; and
3. A Union Cabinet Minister to be nominated by the Prime Minister.

- CIC has been appointed for term of five years from the date on which they enter upon their office(s) or till they attain the age of sixty five years, whichever is earlier.
- CIC is not eligible for reappointment.

ANSWER: Benin, Burkina Faso, Chad, Mali

Explanation:
- Cotton-4 countries of WTO are West African coalition seeking cuts in cotton subsidies and tariffs.
- They composed of Benin, Burkina Faso, Chad, Mali

ANSWER: Pakistan

Explanation:
- Pakistan plans to renovate and improve facilities at a historical Hindu temple complex at Katasraj temple.
- It existed since the days of Mahabharata and the Pandava brothers spent a substantial part of their exile at the site

ANSWER: Both

Explanation:
- Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia are Eurasian Economic Union members
- Tajikistan will join Eurasian Economic Union.
- The Eurasian Economic Union is an economic union of states located primarily in northern Eurasia.
- A treaty aiming for the establishment of the EEU was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan and Russia
- It came into force on 1 January 2015.
- Kyrgyzstan's accession treaty will not come into force until it has been ratified, but it participated in the EEU from the day of its establishment as an acceding state.

ANSWER: Only 1

Explanation:
- The Cartagena Protocol on Biosafety is the first international regulatory framework for safe transfer, handling and use of Living Modified Organisms (LMOs).
- India has acceded the Biosafety Protocol on 17 January 2003.

ANSWER: None

Explanation:
- China has the largest forex reserves.
- The level of forex reserve is expressed in US dollars. Hence India’s forex reserve declines when US dollar appreciates against major international currencies and vice versa.
- FOREX can be gained through buying, getting funds from IMF or world bank etc. or interest and aid received by India.