Q.1) The Reserve Bank of India(RBI) is facing an odd situation at present as GDP is contracting even as inflation is rising amid pandemic. In this context, discuss the shortcomings of monetary policy. (15 marks - 250 words)
Why this question? - The Reserve Bank of India has kept interest rates unchanged, seeking to contain a rise in retail inflation even as growth remains a concern.
Intro - Highlight the status of Indian economy at present and the dilemma faced by the RBI.
- A brief about RBI’s monetary policy and its objectives.
- Shortcomings of RBI monetary policy and its impact on Indian economy.
Way ahead - Need to reform RBI’s monetary policy to make it more relevant in the current scenario.
Conclusion - Summarize your answer based on the above discussion.
Q.2) Discuss about the progress made in the early Tsunami Warning System in India. (15M, 250 words)
Why this question?
- UNESCO-IOC has approved the recognition of two communities - Venkatraipur and Noliasahi as Tsunami Ready Communities.
Introduction: Discuss in brief about the 2004 Indian Ocean Tsunami and the disaster done by it.
Body: Discuss the following points
- Tsunami Risk Management Guidelines issued by National Disaster Management Authority
- Tsunami Early Warning System in India
- state-of-the-art Tsunami warning system was established at Indian National Centre for Ocean Information Services (INCOIS), Hyderabad
- INCOIS is developing 3D GIS mapping in vulnerable coastal areas
- Significance of tsunami risk management
- International Cooperation
- Tsunami Ready programme
- Providing tsunami advisories to Indian Ocean region (25 countries) as a Tsunami Service Providers as the responsibility assigned by IOC-UNESCO.
Conclusion: Provide a way forward based on the framework of Sendai guidelines and PM’s 10-point agenda for disaster risk reduction.
Q.3) Discuss the significance of startups in the target of ‘doubling farmers’ income. (10 M, 150 words)
Why this question?
A component, Innovation and Agri-entrepreneurship Development programme has been launched under Rashtriya Krishi Vikas Yojana in order to promote innovation and agripreneurship by providing financial support and nurturing the incubation ecosystem.
- Discuss in brief about the target of doubling farmer’s income by 2022.
Discuss the following points:
- Income generating ways by startups like
- Several start-ups led by women uses AI to track waste bio-mass and then works with farmers to collect it. On one side it generates additional income for farmers and on the other side A2P converts the collected biomass into Next Gen biofuels like energy pellets, green coal and bio oil.
- Mitigating human wildlife conflict by developing ‘Animal Intrusion Detection and Repellent System’’
- Improving crop yield by precise irrigation and disease management though a data driven approach by using AI, IoT and computer vision.
- Govt initiative- RKVY Raftar
- Discuss a few concerns like falling percentage agri GDP in India’s total GDP, lack of innovation etc.
Conclusion: Suggset a way forward for developing agripreneurship.
Q.4) India needs to decide where to increase investment in Academic Research (AR) or in Post-Academic Research (PAR). Discuss in the light of recent discussions on revisiting the Science, Technology, and Innovation (STI) Policy. (250 words)
Why this question?
The Government of India is in the process of revisiting the Science, Technology and Innovation (STI) Policy
Mention need of efficient STI policy
- Details of Academic Research (AR) and Post-Academic Research (PAR)
- Mention pursuit of AR alone, while necessary, is not sufficient.
- Existing problems
- Translating research into national development
- Funding issues
- Pursuing AR and PAR together
- Increasing technology intensity of industries etc
Mention that higher education institutions and national laboratories should be reoriented to promote PAR.