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UPSC Current Affairs Quiz : 8 August 2024

Kartavya Desk Staff

The Current Affairs Quiz 2024 is a daily quiz based on the DAILY CURRENT AFFAIRS AND PIB SUMMARY from the previous day, as posted on our website. It covers all relevant news sources and is designed to test your knowledge of current events. Solving these questions will help you retain both concepts and facts relevant to the UPSC IAS civil services exam.

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• Question 1 of 10 1. Question 1 points The Directorate of Revenue Intelligence, functions under a) Ministry of Home Affairs b) Ministry of External Affairs c) Ministry of Finance d) Ministry of Commerce and Industry Correct Solution: c) The Directorate of Revenue Intelligence is the apex anti-smuggling agency of India, working under the Central Board of Indirect Taxes & Customs, Ministry of Finance, Government of India. It is tasked with detecting and curbing smuggling of contraband, including drug trafficking and illicit international trade in wildlife and environmentally sensitive items, as well as combating commercial frauds related to international trade and evasion of Customs duty. Incorrect Solution: c) The Directorate of Revenue Intelligence is the apex anti-smuggling agency of India, working under the Central Board of Indirect Taxes & Customs, Ministry of Finance, Government of India. It is tasked with detecting and curbing smuggling of contraband, including drug trafficking and illicit international trade in wildlife and environmentally sensitive items, as well as combating commercial frauds related to international trade and evasion of Customs duty.

#### 1. Question

The Directorate of Revenue Intelligence, functions under

• a) Ministry of Home Affairs

• b) Ministry of External Affairs

• c) Ministry of Finance

• d) Ministry of Commerce and Industry

Solution: c)

The Directorate of Revenue Intelligence is the apex anti-smuggling agency of India, working under the Central Board of Indirect Taxes & Customs, Ministry of Finance, Government of India. It is tasked with detecting and curbing smuggling of contraband, including drug trafficking and illicit international trade in wildlife and environmentally sensitive items, as well as combating commercial frauds related to international trade and evasion of Customs duty.

Solution: c)

The Directorate of Revenue Intelligence is the apex anti-smuggling agency of India, working under the Central Board of Indirect Taxes & Customs, Ministry of Finance, Government of India. It is tasked with detecting and curbing smuggling of contraband, including drug trafficking and illicit international trade in wildlife and environmentally sensitive items, as well as combating commercial frauds related to international trade and evasion of Customs duty.

• Question 2 of 10 2. Question 1 points What complex challenge does India face in the widespread adoption of geothermal energy? a) Lack of geothermal resources b) Insufficient solar radiation c) High upfront costs and limited technical expertise d) Oversupply of conventional energy sources Correct Solution: c) The widespread adoption of geothermal energy in India faces significant challenges due to high upfront costs and limited technical expertise. Geothermal projects require substantial initial investments for drilling wells and installing infrastructure, which can be prohibitively expensive. Additionally, there is a shortage of professionals with experience in geothermal exploration and development, which further complicates the implementation of such projects. These factors combined create a significant barrier to the expansion of geothermal energy in the country, despite its potential benefits as a renewable energy source. Incorrect Solution: c) The widespread adoption of geothermal energy in India faces significant challenges due to high upfront costs and limited technical expertise. Geothermal projects require substantial initial investments for drilling wells and installing infrastructure, which can be prohibitively expensive. Additionally, there is a shortage of professionals with experience in geothermal exploration and development, which further complicates the implementation of such projects. These factors combined create a significant barrier to the expansion of geothermal energy in the country, despite its potential benefits as a renewable energy source.

#### 2. Question

What complex challenge does India face in the widespread adoption of geothermal energy?

• a) Lack of geothermal resources

• b) Insufficient solar radiation

• c) High upfront costs and limited technical expertise

• d) Oversupply of conventional energy sources

• Solution: c)

The widespread adoption of geothermal energy in India faces significant challenges due to high upfront costs and limited technical expertise. Geothermal projects require substantial initial investments for drilling wells and installing infrastructure, which can be prohibitively expensive. Additionally, there is a shortage of professionals with experience in geothermal exploration and development, which further complicates the implementation of such projects. These factors combined create a significant barrier to the expansion of geothermal energy in the country, despite its potential benefits as a renewable energy source.

• Solution: c)

The widespread adoption of geothermal energy in India faces significant challenges due to high upfront costs and limited technical expertise. Geothermal projects require substantial initial investments for drilling wells and installing infrastructure, which can be prohibitively expensive. Additionally, there is a shortage of professionals with experience in geothermal exploration and development, which further complicates the implementation of such projects. These factors combined create a significant barrier to the expansion of geothermal energy in the country, despite its potential benefits as a renewable energy source.

• Question 3 of 10 3. Question 1 points Which organization has established India’s first Geothermal field development project, and where is it located? a) Tata Power in Gujarat b) National Thermal Power Corporation in Chhattisgarh c) Oil and Natural Gas Corporation in Ladakh d) Singareni Collieries Company Limited in Telangana Correct Solution: c) The Oil and Natural Gas Corporation (ONGC) has established India’s first Geothermal field development project in Puga village, Ladakh. This pioneering project marks a significant milestone in India’s geothermal energy sector. ONGC, being India’s largest oil and gas exploration and production company, has leveraged its expertise in drilling and resource extraction to venture into geothermal energy. The choice of Ladakh for this project is strategic, as the region has significant geothermal potential due to its geological characteristics. This initiative not only demonstrates India’s commitment to diversifying its renewable energy portfolio but also showcases the potential for geothermal energy in remote and challenging terrains. Incorrect Solution: c) The Oil and Natural Gas Corporation (ONGC) has established India’s first Geothermal field development project in Puga village, Ladakh. This pioneering project marks a significant milestone in India’s geothermal energy sector. ONGC, being India’s largest oil and gas exploration and production company, has leveraged its expertise in drilling and resource extraction to venture into geothermal energy. The choice of Ladakh for this project is strategic, as the region has significant geothermal potential due to its geological characteristics. This initiative not only demonstrates India’s commitment to diversifying its renewable energy portfolio but also showcases the potential for geothermal energy in remote and challenging terrains.

#### 3. Question

Which organization has established India’s first Geothermal field development project, and where is it located?

• a) Tata Power in Gujarat

• b) National Thermal Power Corporation in Chhattisgarh

• c) Oil and Natural Gas Corporation in Ladakh

• d) Singareni Collieries Company Limited in Telangana

Solution: c)

The Oil and Natural Gas Corporation (ONGC) has established India’s first Geothermal field development project in Puga village, Ladakh. This pioneering project marks a significant milestone in India’s geothermal energy sector. ONGC, being India’s largest oil and gas exploration and production company, has leveraged its expertise in drilling and resource extraction to venture into geothermal energy. The choice of Ladakh for this project is strategic, as the region has significant geothermal potential due to its geological characteristics. This initiative not only demonstrates India’s commitment to diversifying its renewable energy portfolio but also showcases the potential for geothermal energy in remote and challenging terrains.

Solution: c)

The Oil and Natural Gas Corporation (ONGC) has established India’s first Geothermal field development project in Puga village, Ladakh. This pioneering project marks a significant milestone in India’s geothermal energy sector. ONGC, being India’s largest oil and gas exploration and production company, has leveraged its expertise in drilling and resource extraction to venture into geothermal energy. The choice of Ladakh for this project is strategic, as the region has significant geothermal potential due to its geological characteristics. This initiative not only demonstrates India’s commitment to diversifying its renewable energy portfolio but also showcases the potential for geothermal energy in remote and challenging terrains.

• Question 4 of 10 4. Question 1 points Match the following types of geothermal power plants with their corresponding descriptions: COLUMN 1 COLUMN 2 Dry steam power plant A. Requires a high enthalpy range and cannot be used in India Flash steam power plant B. Uses steam or hot water reservoirs beneath the Earth’s surface Binary cycle power plant C. A 20 kW pilot plant using this technology has been commissioned in Telangana Select the option with correct matching pairs below. a) 1-B, 2-A, 3-C b) 1-C, 2-B, 3-A c) 1-A, 2-C, 3-B d) 1-B, 2-C, 3-A Correct Solution: a) There are three types of geothermal power plants where we can harness the heat of the earth to produce electricity. Dry steam powerplant Flash steam power plant Binary cycle power plant Dry steam power plants use steam or hot water reservoirs beneath the Earth’s surface. Flash steam power plants require a high enthalpy range and cannot be used in India. A 20 kW pilot binary cycle power plant has been commissioned in Telangana by Singareni Collieries Company Limited. Incorrect Solution: a) There are three types of geothermal power plants where we can harness the heat of the earth to produce electricity. Dry steam powerplant Flash steam power plant Binary cycle power plant Dry steam power plants use steam or hot water reservoirs beneath the Earth’s surface. Flash steam power plants require a high enthalpy range and cannot be used in India. A 20 kW pilot binary cycle power plant has been commissioned in Telangana by Singareni Collieries Company Limited.

#### 4. Question

Match the following types of geothermal power plants with their corresponding descriptions: COLUMN 1 COLUMN 2

• Dry steam power plant A. Requires a high enthalpy range and cannot be used in India

• Flash steam power plant B. Uses steam or hot water reservoirs beneath the Earth’s surface

• Binary cycle power plant C. A 20 kW pilot plant using this technology has been commissioned in Telangana

Select the option with correct matching pairs below.

• a) 1-B, 2-A, 3-C

• b) 1-C, 2-B, 3-A

• c) 1-A, 2-C, 3-B

• d) 1-B, 2-C, 3-A

Solution: a)

There are three types of geothermal power plants where we can harness the heat of the earth to produce electricity.

• Dry steam powerplant

• Flash steam power plant

• Binary cycle power plant

Dry steam power plants use steam or hot water reservoirs beneath the Earth’s surface.

Flash steam power plants require a high enthalpy range and cannot be used in India.

A 20 kW pilot binary cycle power plant has been commissioned in Telangana by Singareni Collieries Company Limited.

Solution: a)

There are three types of geothermal power plants where we can harness the heat of the earth to produce electricity.

• Dry steam powerplant

• Flash steam power plant

• Binary cycle power plant

Dry steam power plants use steam or hot water reservoirs beneath the Earth’s surface.

Flash steam power plants require a high enthalpy range and cannot be used in India.

A 20 kW pilot binary cycle power plant has been commissioned in Telangana by Singareni Collieries Company Limited.

• Question 5 of 10 5. Question 1 points Consider the following geothermal sites and their location. Puga Geothermal Field: Gujarat Manikaran: Himachal Pradesh Tattapani: Ladakh How many of the above pairs is/are correctly matched? a) Only one b) Only two c) All three d) None Correct Solution: a) Only Statement 2 is correct. Incorrect Solution: a) Only Statement 2 is correct.

#### 5. Question

Consider the following geothermal sites and their location.

• Puga Geothermal Field: Gujarat

• Manikaran: Himachal Pradesh

• Tattapani: Ladakh

How many of the above pairs is/are correctly matched?

• a) Only one

• b) Only two

• c) All three

Solution: a)

Only Statement 2 is correct.

Solution: a)

Only Statement 2 is correct.

• Question 6 of 10 6. Question 1 points What unique characteristic of Methylocucumis oryzae makes it particularly interesting for environmental applications? a) Its ability to grow in temperatures above 37°C b) Its efficiency in oxidizing methane to CO₂ and water c) Its small size and spherical shape d) Its ability to enhance rice plant growth Correct Solution: b) Methylocucumis oryzae, like other methanotrophs, is efficient in oxidizing methane to CO₂ and water. This characteristic is particularly interesting for environmental applications because methane is a potent greenhouse gas. By converting methane to less harmful substances, these bacteria can play a crucial role in mitigating climate change. Their natural ability to reduce methane levels makes them valuable for potential bioremediation strategies in areas with high methane emissions, such as landfills, rice paddies, or natural wetlands. Incorrect Solution: b) Methylocucumis oryzae, like other methanotrophs, is efficient in oxidizing methane to CO₂ and water. This characteristic is particularly interesting for environmental applications because methane is a potent greenhouse gas. By converting methane to less harmful substances, these bacteria can play a crucial role in mitigating climate change. Their natural ability to reduce methane levels makes them valuable for potential bioremediation strategies in areas with high methane emissions, such as landfills, rice paddies, or natural wetlands.

#### 6. Question

What unique characteristic of Methylocucumis oryzae makes it particularly interesting for environmental applications?

• a) Its ability to grow in temperatures above 37°C

• b) Its efficiency in oxidizing methane to CO₂ and water

• c) Its small size and spherical shape

• d) Its ability to enhance rice plant growth

• Solution: b)

Methylocucumis oryzae, like other methanotrophs, is efficient in oxidizing methane to COâ‚‚ and water. This characteristic is particularly interesting for environmental applications because methane is a potent greenhouse gas. By converting methane to less harmful substances, these bacteria can play a crucial role in mitigating climate change. Their natural ability to reduce methane levels makes them valuable for potential bioremediation strategies in areas with high methane emissions, such as landfills, rice paddies, or natural wetlands.

• Solution: b)

Methylocucumis oryzae, like other methanotrophs, is efficient in oxidizing methane to COâ‚‚ and water. This characteristic is particularly interesting for environmental applications because methane is a potent greenhouse gas. By converting methane to less harmful substances, these bacteria can play a crucial role in mitigating climate change. Their natural ability to reduce methane levels makes them valuable for potential bioremediation strategies in areas with high methane emissions, such as landfills, rice paddies, or natural wetlands.

• Question 7 of 10 7. Question 1 points Match the scientific concepts with their corresponding descriptions or applications: COLUMN 1 COLUMN 2 1. Atomic Clocks A. Distributed digital ledger technology 2. Supercomputer B. High-performance computing system 3. Blockchain C. Precision timing and navigation 4. Classical Computing D. Traditional computing using transistors 5. Magnetometry E. Development of sensitive measurement devices Select the correct answer code: A) 1-C, 2-B, 3-A, 4-D, 5-E b) 1-B, 2-C, 3-E, 4-A, 5-D c) 1-D, 2-A, 3-B, 4-E, 5-C d) 1-E, 2-D, 3-C, 4-B, 5-A Correct Solution: a) Atomic Clocks are used for precision timing and navigation, Supercomputers are high-performance computing systems, Blockchain is a distributed digital ledger technology, Classical Computing uses traditional transistors, and Magnetometry involves the development of sensitive measurement devices. Incorrect Solution: a) Atomic Clocks are used for precision timing and navigation, Supercomputers are high-performance computing systems, Blockchain is a distributed digital ledger technology, Classical Computing uses traditional transistors, and Magnetometry involves the development of sensitive measurement devices.

#### 7. Question

Match the scientific concepts with their corresponding descriptions or applications: COLUMN 1 COLUMN 2 1. Atomic Clocks A. Distributed digital ledger technology 2. Supercomputer B. High-performance computing system 3. Blockchain C. Precision timing and navigation 4. Classical Computing D. Traditional computing using transistors 5. Magnetometry E. Development of sensitive measurement devices Select the correct answer code:

• A) 1-C, 2-B, 3-A, 4-D, 5-E

• b) 1-B, 2-C, 3-E, 4-A, 5-D

• c) 1-D, 2-A, 3-B, 4-E, 5-C

• d) 1-E, 2-D, 3-C, 4-B, 5-A

Solution: a)

Atomic Clocks are used for precision timing and navigation, Supercomputers are high-performance computing systems, Blockchain is a distributed digital ledger technology, Classical Computing uses traditional transistors, and Magnetometry involves the development of sensitive measurement devices.

Solution: a)

Atomic Clocks are used for precision timing and navigation, Supercomputers are high-performance computing systems, Blockchain is a distributed digital ledger technology, Classical Computing uses traditional transistors, and Magnetometry involves the development of sensitive measurement devices.

• Question 8 of 10 8. Question 1 points Consider the following statements in the context of Methanotrophs and their applications. STATEMENT 1: Methanotrophs can grow in temperatures above 50°C. STATEMENT 2: Methanotrophs convert methane to hydrogen gas. Which of the statements above is/are correct? a) Only STATEMENT 1 b) Only STATEMENT 2 c) BOTH STATEMENTS d) Neither Statements Correct Solution: d) India has discovered and isolated indigenous methanotrophs, bacteria that naturally mitigate methane, a potent greenhouse gas. Researchers have identified novel methanotrophs from rice fields and wetlands in Western India, including a new genus and species named Methylocucumis oryzae. These bacteria are efficient in oxidizing methane, converting it to CO₂ and water. Methylocucumis oryzae is notable for its large size, unique oval shape, and strict temperature requirements, as it cannot grow above 37°C. This methanotroph has also been found to enhance rice plant growth, promoting earlier flowering and increased grain yield. Incorrect Solution: d) India has discovered and isolated indigenous methanotrophs, bacteria that naturally mitigate methane, a potent greenhouse gas. Researchers have identified novel methanotrophs from rice fields and wetlands in Western India, including a new genus and species named Methylocucumis oryzae. These bacteria are efficient in oxidizing methane, converting it to CO₂ and water. Methylocucumis oryzae is notable for its large size, unique oval shape, and strict temperature requirements, as it cannot grow above 37°C. This methanotroph has also been found to enhance rice plant growth, promoting earlier flowering and increased grain yield.

#### 8. Question

Consider the following statements in the context of Methanotrophs and their applications. STATEMENT 1: Methanotrophs can grow in temperatures above 50°C. STATEMENT 2: Methanotrophs convert methane to hydrogen gas.

Which of the statements above is/are correct?

• a) Only STATEMENT 1

• b) Only STATEMENT 2

• c) BOTH STATEMENTS

• d) Neither Statements

Solution: d)

India has discovered and isolated indigenous methanotrophs, bacteria that naturally mitigate methane, a potent greenhouse gas.

• Researchers have identified novel methanotrophs from rice fields and wetlands in Western India, including a new genus and species named Methylocucumis oryzae.

• These bacteria are efficient in oxidizing methane, converting it to CO₂ and water.

• Methylocucumis oryzae is notable for its large size, unique oval shape, and strict temperature requirements, as it cannot grow above 37°C.

This methanotroph has also been found to enhance rice plant growth, promoting earlier flowering and increased grain yield.

Solution: d)

India has discovered and isolated indigenous methanotrophs, bacteria that naturally mitigate methane, a potent greenhouse gas.

• Researchers have identified novel methanotrophs from rice fields and wetlands in Western India, including a new genus and species named Methylocucumis oryzae.

• These bacteria are efficient in oxidizing methane, converting it to CO₂ and water.

• Methylocucumis oryzae is notable for its large size, unique oval shape, and strict temperature requirements, as it cannot grow above 37°C.

This methanotroph has also been found to enhance rice plant growth, promoting earlier flowering and increased grain yield.

• Question 9 of 10 9. Question 1 points Match the technologies with their corresponding applications or descriptions: COLUMN 1 COLUMN 2 White Rabbit Technology A. Radiometric dating 2. NavIC system B. Precise timing applications 3. FRT (Facial Recognition Technology) C. Security and surveillance 4. Atom-Trap Trace Analysis (ATTA) D. Synchronization for Large Hadron Collider Select the option with correct matching pairs below. a) 1-D, 2-B, 3-C, 4-A b) 1-B, 2-D, 3-A, 4-C c) 1-D, 2-C, 3-B, 4-A d) 1-C, 2-A, 3-D, 4-B Correct Solution: a) White Rabbit (WR) is a technology developed at CERN to provide the LHC accelerator chain with deterministic data transfer, sub-nanosecond accuracy and a synchronisation precision of a few picoseconds. First used in 2012, the technology has since then expanded its applications outside the field of particle physics and is now deployed in numerous scientific infrastructures worldwide. It has shown its innovative potential by being commercialised and introduced into different industries, including telecommunications, financial markets, smart grids, the space industry and quantum computing. The Indian Regional Navigation Satellite System (IRNSS), with an operational name of NavIC (Navigation with Indian Constellation), is an autonomous regional satellite navigation system that provides accurate real-time positioning and timing services. FRT is used for security and surveillance, and ATTA is used for radiometric dating. Incorrect Solution: a) White Rabbit (WR) is a technology developed at CERN to provide the LHC accelerator chain with deterministic data transfer, sub-nanosecond accuracy and a synchronisation precision of a few picoseconds. First used in 2012, the technology has since then expanded its applications outside the field of particle physics and is now deployed in numerous scientific infrastructures worldwide. It has shown its innovative potential by being commercialised and introduced into different industries, including telecommunications, financial markets, smart grids, the space industry and quantum computing. The Indian Regional Navigation Satellite System (IRNSS), with an operational name of NavIC (Navigation with Indian Constellation), is an autonomous regional satellite navigation system that provides accurate real-time positioning and timing services. FRT is used for security and surveillance, and ATTA is used for radiometric dating.

#### 9. Question

Match the technologies with their corresponding applications or descriptions: COLUMN 1 COLUMN 2 White Rabbit Technology A. Radiometric dating 2. NavIC system B. Precise timing applications 3. FRT (Facial Recognition Technology) C. Security and surveillance 4. Atom-Trap Trace Analysis (ATTA) D. Synchronization for Large Hadron Collider

Select the option with correct matching pairs below.

• a) 1-D, 2-B, 3-C, 4-A

• b) 1-B, 2-D, 3-A, 4-C

• c) 1-D, 2-C, 3-B, 4-A

• d) 1-C, 2-A, 3-D, 4-B

Solution: a)

White Rabbit (WR) is a technology developed at CERN to provide the LHC accelerator chain with deterministic data transfer, sub-nanosecond accuracy and a synchronisation precision of a few picoseconds. First used in 2012, the technology has since then expanded its applications outside the field of particle physics and is now deployed in numerous scientific infrastructures worldwide. It has shown its innovative potential by being commercialised and introduced into different industries, including telecommunications, financial markets, smart grids, the space industry and quantum computing.

The Indian Regional Navigation Satellite System (IRNSS), with an operational name of NavIC (Navigation with Indian Constellation), is an autonomous regional satellite navigation system that provides accurate real-time positioning and timing services.

FRT is used for security and surveillance, and ATTA is used for radiometric dating.

Solution: a)

White Rabbit (WR) is a technology developed at CERN to provide the LHC accelerator chain with deterministic data transfer, sub-nanosecond accuracy and a synchronisation precision of a few picoseconds. First used in 2012, the technology has since then expanded its applications outside the field of particle physics and is now deployed in numerous scientific infrastructures worldwide. It has shown its innovative potential by being commercialised and introduced into different industries, including telecommunications, financial markets, smart grids, the space industry and quantum computing.

The Indian Regional Navigation Satellite System (IRNSS), with an operational name of NavIC (Navigation with Indian Constellation), is an autonomous regional satellite navigation system that provides accurate real-time positioning and timing services.

FRT is used for security and surveillance, and ATTA is used for radiometric dating.

• Question 10 of 10 10. Question 1 points Consider the following statements regarding World Trade Organization (WTO). The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. It officially commenced operations on 1 January 1945, under the Marrakesh Agreement. After WTO came in to existence, General Agreement on Trade and Tariffs (GATT) ceased to exist. How many of the above statements are incorrect? a) Only one b) Only two c) All three d) None Correct Solution: b) Only statement 1 is correct. The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. World Trade Organization, as an institution, was established in 1995. It replaced General Agreement on Trade and Tariffs (GATT) which was in place since 1946. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994. India has been a member of GATT since 1948; hence it was party to Uruguay Round and a founding member of WTO. While WTO came in to existence in 1995, GATT didn’t cease to exist. It continues as WTO’s umbrella treaty for trade in goods. Incorrect Solution: b) Only statement 1 is correct. The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. World Trade Organization, as an institution, was established in 1995. It replaced General Agreement on Trade and Tariffs (GATT) which was in place since 1946. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994. India has been a member of GATT since 1948; hence it was party to Uruguay Round and a founding member of WTO. While WTO came in to existence in 1995, GATT didn’t cease to exist. It continues as WTO’s umbrella treaty for trade in goods.

#### 10. Question

Consider the following statements regarding World Trade Organization (WTO).

• The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.

• It officially commenced operations on 1 January 1945, under the Marrakesh Agreement.

• After WTO came in to existence, General Agreement on Trade and Tariffs (GATT) ceased to exist.

How many of the above statements are incorrect?

• a) Only one

• b) Only two

• c) All three

Solution: b)

Only statement 1 is correct.

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.

World Trade Organization, as an institution, was established in 1995. It replaced General Agreement on Trade and Tariffs (GATT) which was in place since 1946.

• The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994.

• India has been a member of GATT since 1948; hence it was party to Uruguay Round and a founding member of WTO.

• While WTO came in to existence in 1995, GATT didn’t cease to exist. It continues as WTO’s umbrella treaty for trade in goods.

Solution: b)

Only statement 1 is correct.

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.

World Trade Organization, as an institution, was established in 1995. It replaced General Agreement on Trade and Tariffs (GATT) which was in place since 1946.

• The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994.

• India has been a member of GATT since 1948; hence it was party to Uruguay Round and a founding member of WTO.

• While WTO came in to existence in 1995, GATT didn’t cease to exist. It continues as WTO’s umbrella treaty for trade in goods.

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