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1. RBI did not change the repo rate for the 11th time in the bi-monthly monetary policy review (December 2024), what is this repo rate?
a. 5.5%
b. 5.8%
c. 6.2%
d. 6.5%
Answer: d. 6.5%
– The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has decided to keep the policy repo rate unchanged at 6.50% for the 11th consecutive time.
– The MPC meeting took place on December 6, 2024.
– The MPC revised its GDP growth forecast for India for the financial year 2024-25, lowering it from the previous estimate of 7.2% to 6.6%.
What is the Repo Rate (Repurchase Rate)?
– In simple terms, banks lend us money, and we pay interest on that loan.
– Similarly, banks also require large sums of money for their day-to-day operations, which they borrow from the Reserve Bank of India (RBI).
– The interest rate at which the RBI lends to banks is called the repo rate.
Impact of the Repo Rate on the Common Man
– The RBI uses the repo rate as a powerful tool to combat inflation.
– When inflation is high, the RBI increases the repo rate to reduce the money flow in the economy.
– If banks can borrow at lower interest rates (i.e., when the repo rate is low), they can offer cheaper loans to their customers.
– Conversely, if the RBI raises the repo rate, borrowing becomes more expensive for banks, which in turn makes loans costlier for customers.
Reverse Repo Rate
– This is the opposite of the repo rate.
– When banks have surplus funds after daily operations, they deposit this money with the RBI.
– The RBI pays interest on these deposits.
– The rate at which the RBI pays interest on these funds is called the reverse repo rate.
Ex-Officio Chairman of the Monetary Policy Committee
– The Governor of the Reserve Bank of India, Shaktikanta Das.
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2. What was India’s GDP growth rate in the second quarter (July-September) of the financial year 2024-25?
a. 8.1%
b. 6.7%
c. 5.4%
d. 4.3%
Answer: c. 5.4%
– India’s GDP growth for the second quarter of the fiscal year 2025 (July-September quarter) has slowed down to 5.4%.
– This is the slowest growth in seven quarters.
– The slowdown in GDP growth is attributed to the poor performance of the manufacturing sector.
– In the same quarter of the previous year (Q2FY24), GDP growth was 8.1%.
Who released the GDP growth rate data?
– The National Statistical Office (NSO) released the provisional GDP data in December 2024.
GDP growth rate for 2024-25:
– First quarter (April-June): 6.7%
– Second quarter (July-September): 5.4%
What is GDP?
– Gross Domestic Product (GDP) is one of the most common indicators used to track the health of an economy.
– GDP refers to the total value of all goods and services produced in a country within a year or a quarter.
– GDP is the biggest measure of a country’s economic growth.
– A higher GDP means the economy is growing, and it is generating more jobs.
– A lower GDP indicates economic stagnation, with rising unemployment.
How is GDP calculated?
GDP = C + I + G + (X-M)
C = Consumer expenditures
I = Industrial investment
G = Government expenditure
X = Exports
M = Imports
Two types of GDP:
– There are two types of GDP: Real GDP and Nominal GDP.
– Real GDP is calculated based on the value of goods and services at a stable or base year’s price. Currently, the base year for calculating GDP is 2011-12.
– Nominal GDP is calculated at current prices.
India remains the fastest-growing economy among major countries:
– Despite the slow GDP growth, India is still the fastest-growing economy among major economies.
– In the July-September quarter of this year, China’s GDP growth was 4.6%, while Japan’s GDP grew by 0.9%.
India’s GVA in the July-September quarter:
– India’s GVA (Gross Value Added) grew by 5.6% in the July-September quarter.
– In the same quarter last year, GVA growth was 7.7%.
– In the previous quarter, GVA growth was 6.8%.
What is Gross Value Added (GVA)?
– In simple terms, GVA indicates the total output and income generated by an economy. It shows how much value was added to goods and services after deducting input costs and raw material prices during a specific period.
– From a national accounting perspective, GVA is the figure obtained after subtracting subsidies and taxes from GDP. If you look at production, it serves as the balancing item for national accounts.
GVA in different sectors:
Primary Sector:
– Agriculture, Livestock, Forestry, Fishing: 1.4%
– Mining: 7.1%
Secondary Sector:
– Manufacturing: 9.9%
– Electricity, Gas, Water Supply: 7.5%
– Construction: 9.9%
Tertiary Sector:
– Trade, Hotels, Transport, Communication: 6.4%
– Financial, Real Estate: 8.4%
– Public Administration, Defense, and Other Services: 7.8%
Corporate Strain:
– During the July-September period, top Indian companies recorded their worst quarterly performance in more than four years, raising concerns that the economic slowdown is starting to affect corporate earnings.
Falling Wages, Pressure on the Middle Class:
– According to a Bloomberg report, Indian wages declined for the first time since the pandemic, resulting in a slowdown of the economy as consumers cut back on spending and corporate profits fell.
– Consumers are now cutting back on everything, from soap to cars. According to data compiled by Bloomberg, nearly half of the companies in the NSE Nifty 50 index did not meet consensus earnings estimates for their second-quarter results.
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3. When is World AIDS Day celebrated?
a. 1 December
b. 2 December
c. 3 December
d. 4 December
Answer: a. 1 December
Theme for 2024:
– Take the rights path: My health, my right!
– World AIDS Day is celebrated every year on December 1st.
– This day is observed by the World Health Organization and the United Nations.
– The purpose of this day is to raise awareness about AIDS so that people can protect themselves from the infection of this deadly disease.
– It was first celebrated in the year 1988.
– AIDS stands for Acquired Immunodeficiency Syndrome.
– The cause of AIDS is a virus called HIV (Human Immunodeficiency Virus).
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4. The Union Cabinet has approved the construction of how many new Kendriya Vidyalayas in 18 states?
a. 40
b. 56
c. 69
d. 85
Answer: d. 85
– The Union Cabinet made this decision on December 6, 2024.
– Under this, 85 Central Schools (KV) and 28 Navodaya Schools (NV) will be established.
– A budget of ₹8,232 crores has been allocated for the construction of these schools.
– ₹5,872 crores are allocated for Central Schools and ₹2,360 crores for Navodaya Schools.
– The new Central Schools will benefit 82,560 students, while the Navodaya Schools will benefit 15,680 students.
85 New Central Schools in 18 States:
– Jammu & Kashmir: 13
– Madhya Pradesh: 11
– Andhra Pradesh: 9
– Rajasthan: 9
– Odisha: 8
– Uttar Pradesh: 5
– Chhattisgarh: 4
– Himachal Pradesh: 4
– Uttarakhand: 4
– Gujarat: 3
– Karnataka: 3
– Maharashtra: 3
– Assam: 1
– Delhi: 1
– Tamil Nadu: 2
– Tripura: 2
– Kerala: 1
– Jharkhand: 1
28 New Navodaya Schools in 7 States:
– Arunachal Pradesh: 8
– Telangana: 7
– Assam: 6
– Manipur: 3
– West Bengal: 2
– Karnataka: 1
– Maharashtra: 1
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5. When is National Pollution Control Day celebrated?
a. 1 December
b. 2 December
c. 3 December
d. 4 December
Answer: b. 2 December
– This day is observed in memory of the people who lost their lives in the Bhopal gas tragedy.
– The Bhopal gas tragedy is considered the world’s worst industrial disaster.
– The purpose of this day is to raise awareness about pollution control regulations and industrial disasters.
About the Bhopal Gas Tragedy:
– When did the incident occur?: The night of December 2 and 3, 1984.
– Which factory was involved?: Union Carbide in Bhopal (now Dow Chemicals).
– Which gas leaked?: Toxic gas Methyl Isocyanate (MIC).
– How many people died?: Over 15,000 people.
– How many were injured or disabled?: Over 500,000 people.
– Who was the main culprit?: Warren Anderson, the CEO of the company at that time.
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6. How much amount did the Union Cabinet approve for the ‘National Natural Farming Mission’?
a. Rs 2481 crore
b. Rs 3481 crore
c. Rs 4481 crore
d. Rs 5581 crore
Answer: a. Rs 2481 crore
National Mission on Natural Farming (NMNF)
– The “National Mission on Natural Farming” has been approved to promote natural farming. A budget of ₹2,481 crores will be allocated for this, and 1 crore farmers will be covered under this mission.
– This scheme will be independently sponsored under the Ministry of Agriculture and Farmers Welfare.
– The Union Cabinet made this decision on November 25, 2024.
– The objective of this scheme is to promote natural farming across the country on a mission mode.
What is Natural Farming?
– The Ministry of Agriculture defines natural farming as a “chemical-free” agricultural system that uses only inputs produced from livestock and plant resources. The Ministry plans to implement this first in districts with high fertilizer consumption.
Why the Mission on Natural Farming?
– The mission to promote natural farming aims to address the excessive use of fertilizers.
– In the fiscal year 2023-24 (FY24), the fertilizer subsidy was ₹1.95 lakh crore (₹1.3 lakh crore for urea and ₹65,200 crore for nutrient-based subsidies).
– The Ministry of Agriculture has identified 228 districts in 16 states—Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, and West Bengal—where the sale of chemical fertilizers was higher than the all-India average (138 kg/hectare) during 2022-23.
Is NMNF a New Initiative?
– No.
– The proposed NMNF (National Mission on Natural Farming) is an improvement of the Indian Natural Farming System (BPKP), which was initiated by the NDA government during its second term (2019-24).
– This initiative was launched under the Pradhan Mantri Krishi Vikas Yojana (PKVY).
– In the financial year 2022-23, the central government also promoted natural farming along the banks of the Ganga River under the Namami Gange Scheme, covering a 5-kilometer stretch.
How much area has been covered under Natural Farming so far?
– “In the next two years, NMNF will be implemented in 15,000 groups of willing gram panchayats, reaching 1 crore farmers, and natural farming (NF) will be started on 7.5 lakh hectares of land.”
– By November 2024, a total of 22 lakh hectares have been brought under natural farming, with 34 lakh farmers involved.
– This includes 4 lakh hectares under BPKP and 88,000 hectares under the Namami Gange initiative.
– Approximately 17 lakh hectares have been covered under various state government initiatives to promote natural farming.
– The goal of NMNF is to bring an additional 7.5 lakh hectares under natural farming.
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7. When is World Computer Literacy Day celebrated?
a. 1 December
b. 2 December
c. 3 December
d. 4 December
Answer: b. 2 December
– This day was initiated by NIIT.
– Its aim is to increase digital literacy worldwide.
– The objective is to promote technical skills among children and women.
– It aims to inspire them to make their work easier through the use of computers.
– This day was first observed in the year 2001.
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8. Till when did the Central Government approve the continuation of ‘Atal Innovation Mission 2.0’ and allocate a budget of Rs 2,750 crore?
a. 31 March, 2026
b. 31 March, 2028
c. 31 March, 2029
d. 31 March, 2030
Answer: b. 31 March, 2028
– The central government launched the Atal Innovation Mission in 2016.
– In November 2024, it was expanded and renamed Atal Innovation Mission 2.0.
– The central government approved a budget of ₹2,750 crores to promote innovation and entrepreneurship.
– It is a key initiative of the Government of India aimed at creating and promoting a culture of innovation and entrepreneurship across the country.
– The Atal Innovation Mission did not have a local language facility. Under Atal Innovation Mission 2.0, 30 innovation centers with local language support will be set up.
Key Initiatives:
– Atal Tinkering Labs: Developing problem-solving mindset in Indian schools.
– Atal Incubation Centers: Promoting startups globally and adding a new dimension to the incubator model.
– Atal New India Challenge: Promoting product innovations and tailoring them to meet the needs of various sectors/ministries.
– Mentor India Campaign: A national mentor network launched in collaboration with public sectors, corporates, and institutions to support all initiatives of the mission.
– Atal Community Innovation Centers: Encouraging community-focused innovations and ideas in underserved areas of the country, including Tier-2 and Tier-3 cities.
– Atal Research and Innovation for Small Enterprises (ARISE): Promoting innovation and research in micro, small, and medium enterprises.
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9. When is International Cheetah Day observed?
a. 4 December
b. 5 December
c. 6 December
d. 7 December
Answer: a. 4 December
– This day is dedicated to emphasizing global efforts to prevent the extinction of the cheetah and promote its conservation.
– Under the Cheetah Translocation Project, cheetahs were brought to India from Namibia and South Africa in 2022 and 2023.
– These cheetahs were placed in the Kuno National Park in Madhya Pradesh under this project.
– The cheetah is the fastest running animal.
– Its speed can reach up to 70 miles per hour.
– That means 112 kilometers per hour.
International Big Cat Alliance
– The Government of India established the International Big Cat Alliance in February 2024. The initiative aims to secure the future of big cats such as lions, tigers, leopards, snow leopards, pumas, jaguars, and cheetahs.
Cheetah Extinct from India in 1952
– The last spotted cheetah in the country died in 1947 in Chhattisgarh.
– After that, it was declared extinct in 1952.
Reasons for the Extinction of Cheetahs in India
– There were two primary reasons for the extinction of cheetahs: first, the domestication of cheetahs for hunting, and second, cheetahs did not breed in captivity.
– Due to their speed and less aggressive nature compared to tigers and lions, they were easier to domesticate.
– Before the country’s independence, kings and zamindars often used cheetahs for hunting, where they assisted in catching other animals.
– The main reason for domesticating cheetahs was their docile nature, making them easy to handle like dogs.
– Unlike tigers, lions, and leopards, cheetahs are less aggressive animals.
– A cheetah captured from the wild could be trained within six months. Rather than being kept in cages, they were often tied with chains.
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10. What is the ‘One Nation One Subscription’ scheme, for which the Central Government approved ₹ 6,000 crore?
a. Single subscription for all newspapers
b. Virtual subscription for all players
c. Equal access to research journals in all public institutions
d. None of the above
Answer: c. Equal access to research journals in all public institutions
One Nation, One Subscription
– High-quality, expensive publications will be provided to youth and students for research.
– All universities in the country will share their resources with each other.
– Subscriptions to all world-famous journals will be provided to educational institutions in the country. Under this scheme, a budget of 6,000 crore rupees will be spent for three years (2025-2027).
– Undergraduate courses will be introduced in universities, and in Phase One, these will be initiated in government institutions.
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11. When is International Slavery Abolition Day celebrated?
a. 1 December
b. 2 December
c. 3 December
d. 4 December
Answer: b. 2 December
Theme for 2024
– Eradicating contemporary forms of slavery.
– The United Nations General Assembly declared this day in 1986.
– The purpose of this day is to prevent human trafficking, sexual exploitation, and child labor.
Modern Slavery is Increasing
– Latest estimates by the International Labour Organization (ILO) indicate a significant rise in forced labor and forced marriages over the past five years.
– Compared to the 2016 global estimates, there were 10 million more people in modern slavery in 2021, bringing the total number worldwide to 50 million people.
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12. On which states was the ‘Ashtalakshmi Mahotsav 2024’ organized in Delhi focused?
a. Assam, Sikkim, Arunachal Pradesh
b. Manipur, Mizoram, Nagaland
c. Arunachal Pradesh, Tripura
d. All of the above
Answer: d. All of the above (Assam, Sikkim, Arunachal Pradesh, Manipur, Mizoram, Nagaland, Arunachal Pradesh and Tripura)
– The Ashtalakshmi Mahotsav was held in December 2024 at the Bharat Mandapam in Delhi. The festival showcased the cultural richness and diversity of the northeastern states of India.
– This festival focuses on the eight northeastern states of India.
– The eight northeastern states are Assam, Sikkim, Arunachal Pradesh, Manipur, Mizoram, Nagaland, Arunachal Pradesh, and Tripura.
– Initially, there were 7 states in India’s northeastern region, and they were referred to as the Seven Sisters.
– In 2002, Sikkim was made a member of the Northeast Council, and the term “Seven Sisters” was no longer used for the northeastern states.
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13. For how many times has Devendra Fadnavis become the Chief Minister of Maharashtra?
a. first time
b. second time
c. third time
d. fourth time
Answer: c. third time
– Devendra Fadnavis took the oath as the Chief Minister for the third time on December 5, 2024.
– Former Chief Minister Eknath Shinde took the oath as Deputy CM and became the second leader in the state to hold the position of Deputy CM after the CM.
– Ajit Pawar also took the oath as Deputy CM.
– Voting for Maharashtra’s 288 Assembly seats took place on November 20, and the results were declared on November 23.
– The Mahayuti alliance won 230 seats, with BJP securing 132 seats, Shiv Sena winning 57 seats, and NCP winning 41 seats.
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14. When is Indian Navy Day celebrated?
a. 1 December
b. 2 December
c. 3 December
d. 4 December
Answer: d. 4 December
– National Navy Day is celebrated every year on December 4 to honor the achievements of the Indian Navy.
– On December 4, 1971, during the India-Pakistan war, Operation Trident was launched against Pakistan.
– On this day, the Indian Navy entered the war and played a crucial role in the victory.
– Therefore, December 4 is celebrated as Indian Navy Day.
Chief of Naval Staff:
– Indian Navy Established: January 26, 1950
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15. Name the Bhutan King, who arrived on a two-day visit to India in December 2024?
a. Ugyen Wangchuck
b. Jigme Singye
c. Tsering Tobgay
d. Jigme Khesar Namgyal Wangchuck
Answer: d. Jigme Khesar Namgyal Wangchuck
– Bhutan’s King Jigme Khesar Namgyal Wangchuk arrived in India on a two-day visit on December 5.
– Under India’s ‘Neighborhood First’ policy, India has allocated 2068 crore rupees to Bhutan for the year 2024-25.
– After Singapore, Bhutan is the second country to use the BHIM UPI app.
– In recent years, India and Bhutan have increased their cooperation in areas such as hydropower, digital infrastructure, education, and space technology.
Bhutan
– Capital: Thimphu
– King: Jigme Khesar Namgyal Wangchuk
– Prime Minister: Lotay Tshering
– Currency: Ngultrum
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16. When is World Soil Day celebrated?
a. 4 December
b. 5 December
c. 6 December
d. 7 December
Answer: b. 5 December
Theme for 2024:
– Caring for Soil—Measure, Monitor, and Manage
– World Soil Day is celebrated every year on December 5.
– The purpose of this day is to raise awareness about the importance of soil quality.
– This day is observed to highlight how vital soil is for humans, food security, and ecosystems.
– It was first celebrated in 2014.
– Food and Agriculture Organization (FAO) and the International Union of Soil Sciences (IUSS) jointly observe this day.
Food and Agriculture Organization (FAO):
– Established: October 16, 1945
– Headquarters: Rome, Italy
International Union of Soil Sciences (IUSS):
– Established: 1924
– Headquarters: Vienna, Austria
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17. Which Indian-origin artist received Britain’s prestigious Turner Prize 2024?
a. Jasleen Kaur
b. Vivek Murthy
c. Asad Anand
d. Rahul Maheshwari
Answer: a. Jasleen Kaur
– On December 4, 2024, in a ceremony, 26.84 lakh rupees were awarded for the exhibition ‘Alter Alter’.
– The award is named after the painter J.M.W. Turner (1775-1851).
– The Turner Prize was established in 1984.
– This award is given every year to a British artist for their work.
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18. When is Armed Forces Flag Day celebrated?
a. 4 December
b. 5 December
c. 6 December
d. 7 December
Answer: d. 7 December
– Its purpose is to honor the martyrs and men in uniform.
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19. ISRO successfully launched which space agency’s ‘Proba-3’ with PSLV-C59 rocket?
a. NASA
b. ESA
c. Roscosmos
d. AfSA
Answer: b. ESA (European Space Agency)
– On December 5, 2024, the Indian Space Research Organisation (ISRO) successfully launched the European Space Agency (ESA)’s ‘Proba-3’.
– Proba-3 was launched with the help of ISRO’s Polar Satellite Launch Vehicle (PSLV-C59), where C59 is the actual rocket code.
– The ESA Proba-3 mission was launched in collaboration with ISRO’s commercial arm, NewSpace India Limited (NSIL).
About Proba-3
– Proba-3 is the world’s first precision formation flying satellite.
– It consists of two satellites: Coronagraph (310 kg) and Occulter (240 kg).
– Proba-3 will not only provide new insights into the Sun but will also pave the way for future advancements in space technology.
– ISRO has previously launched two Proba missions, both of which were successful.
– The Proba-1 mission was launched in 2001, and the Proba-2 mission was launched in 2009.
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20. When is International Civil Aviation Day celebrated?
a. 4 December
b. 5 December
c. 6 December
d. 7 December
Answer: d. 7 December
– Safe Skies. Sustainable Future: Together for the next 80 years.
– International Civil Aviation Day is celebrated every year on December 7.
– The purpose of this day is to raise awareness about the importance of international civil aviation for social and economic development worldwide.
– This day is observed by the International Civil Aviation Organization (ICAO).
– The day was proclaimed by the United Nations General Assembly in 1996.
International Civil Aviation Organization (ICAO):
– Established: December 7, 1944
– Headquarters: Montreal, Canada
– President: Salvatore Sciacchitano
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21. Which great man’s death anniversary (6 December) is celebrated as Mahaparinirvan Day?
a. Jawaharlal Nehru
b. Dr. BR Ambedkar
c. Sardar Vallabhbhai Patel
d. Jyotiba Phule
Answer: b. Dr. BR Ambedkar
– Mahaparinirvana means liberation.
– On this day, followers of Dr. Ambedkar and other Indian leaders pay tribute to him.
Dr. B.R. Ambedkar
– Born: April 14, 1891
– Died: December 6, 1956
– Dr. Ambedkar was the first Indian to earn a doctorate in economics from abroad.
– He was the first Law Minister of independent India.
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