AIR 109 · CSE 2024 · GS3 · 52 pages

Pavitra Goyal: GS3 answer copy

12 answers by Pavitra Goyal, as written in the test. Each question opens a page with how other toppers answered it.

The questions

  1. Q1What is a windfall tax? Discuss its importance. Also, suggest other measures to promote wealth redistribution and greater economic equality.
  2. Q3Quick mitigation with response to disaster are necessary to save life.
  3. Q4Jal Jeevan Mission (JJM) is a flagship programme to ensure tap water connection to every household. Discuss its significance and the impediments in achieving its objectives.
  4. Q5What are the significance of Battery Energy Storage Systems (BESS) and Gaganyaan mission? Discuss the challenges and benefits associated with Green Hydrogen missions in India.
  5. Q8The recent land subsidence in Joshimath, Uttarakhand shows the fragility of Himalayan ecosystem and the associate disaster with it. Coalition for Disaster Resilient Infrastructure (CDRI) was launched by India in 2019 to bring focus of the global community in developing infrastructure for the future.
  6. Q9The resurgence of khalistan issue and radicalisation, propaganda spreading by miscreants shows the fragile security condition in Punjab and deteriorating law & order situation.
  7. Q12Critically examine the role of SEBI in regulating the Indian securities market. What are the challenges faced by it, and what reforms are required? 13) Agriculture contributes significantly to the Indian economy, yet it faces multiple constraints. Analyze these and discuss how technology can mitigate them. 14) Define irrigation. Discuss its impact on the environment and natural resources. Suggest measures for sustainable irrigation practices.
  8. Q15Discuss the contribution of Dr. Homi Jehangir Bhabha and Dr. Vikram Sarabhai in the development of science and technology in India.
  9. Q16Define Generative AI and discuss its potential, challenges and the measures required to regulate it.
  10. Q17COP27, 2022 concluded in Egypt has adopted "Mangrove Alliance for Climate" to highlight the importance of mangroves in conservation and tackling of climate change. Discuss.
  11. Q19Define ransomware and explain the implications of the rise in such attacks on various sectors.
  12. Q20India border management are done by multiple agencies like CAPF, armed forces and state polices. But recent issue of intrusion, supply of arms, smuggling highlighted the lack of coordination and cooperation between various agencies.

The answers

Question 1 · 408 words written

What is a windfall tax? Discuss its importance. Also, suggest other measures to promote wealth redistribution and greater economic equality.

Opening · a definition

Windfall tax are the extra taxes that are imposed on the profit of the company which surge due to unexpected global or domestic condition.

Eg:- Rise in crude oil prices after Russia-Ukraine war.

Body · points and prose

Importance of windfall tax

→ Provide alternate source of revenue to the government → Curb the rising inequality in the society → As fund can be utilized for socio-economic welfare of the citizen. → Help in redistribution of wealth from the corporates to the stakeholders of the country.

Other measures required to promote redistribute wealth and greater economic equality

1.) Imposition of wealth tax on transfer of inheritance property.

2.) Promotion of health, education and infrastructural development in the nation.

3.) Imposition of progressive taxation system where high salaried/income will pay more.

4.) Strengthening of Digital Public infrastructure for better and equitable development.

Elimination of Inequality (Gini Coefficient >0.8) is a moral responsibility and essential for fulfilling SDGs: Reduces inequalities.

Monetary Policy committee is a 6 member committee constituted under the RBI Act, 1934 to decide the policy repo rate and future trends to guide the country in controlling and managing inflation.

→ MPC decide the Repo rate (rate at which it lend money to bank) on the Consumer Price Index- All India Average (CPI-AI).

Success of Inflation targeting

  1. Based on the Phillip's curve: moderate inflation is necessary for ensuring economic activities and generate employment opportunities.
Diagram
* Y-axis: Inflation * X-axis: Unemployment * A downward sloping curve representing the Phillips Curve * Label: Fig 1:- Phillips Curve
  1. It help in better targeting of credit rate. → As bank pegged their loans at repo rate. 3-) India Economic growth is continuously one of the highest in the world.
  2. Inflation remain moderated within the limit of 4±2% for maximum time.
Diagram
- challenges - Delay in transmission of policy rate - Failure to anchor inflation during Covid-19 - Issues in determining CPI which is based on 2011 Expenditure Census - Lack of consensus i.e. split decision - Hurting the economic growth due to jerk-reaction to control inflation.

RBI and its MPC are ensuring both economic growth and inflation control. But it require more robustness and transparency in its function.

3.) Millets are defined as the small grasses that are rich in nutrient and can be used for human consumption and as a fodder for livestock. Ej: Bajra etc.

Diagram
- Millet Sustainable Agriculture - Minimal requirement of fertilizer and pesticides - Lower water requirement - Crop diversification - Soil productivity increases - Carbon sequestration - Helps in enhancing income of farmer - Lower crop period - Export potential

Millet - Improving food security

  1. Increasing availability of multiple grains within the country itself.

  2. Reducing reliance on traditional crop - Rice and wheat.

  3. They are available at lower cost thus can be affordable by poor.

  4. They are rich in fibres → Nutritional security.

  5. Help in reducing various ailments like diabetes etc.

Close · a way forward

Millets are known as the "miracle crop" of "future". They can act as a vital cog in agricultural sustainability provided with better policies, farmer incentives and market linkages.