Explanation : 

I. In RTGS, the settlement time is instantaneous while in case of NEFT, it takes some time to settle payments.

This statement is correct. RTGS (Real-Time Gross Settlement) processes transactions individually and in real-time, meaning funds are transferred and settled instantly. NEFT (National Electronic Funds Transfer) operates on a deferred net settlement basis, processing transactions in batches at half-hourly intervals, so it takes some time for payments to settle.

II. In RTGS, the customer is charged for inward transactions while that is not the case for NEFT.

This statement is incorrect. For both RTGS and NEFT, there are no charges levied for inward transactions (when funds are credited to the beneficiary’s account). Charges may apply for outward transactions (sending money) in both systems, though online NEFT and RTGS transactions are often free or have minimal fees.

III. Operating hours for RTGS are restricted on certain days while this is not true for NEFT.

This statement is incorrect. Both RTGS and NEFT services in India are available 24×7, 365 days a year, including weekends and holidays. While some banks might have specific cut-off times for branch-based transactions, the online systems operate continuously.

Therefore, only statement I is correct.

Explanation : 

Statement I: “It provides loans and guarantees to middle income countries.”

This statement is correct. The International Bank for Reconstruction and Development (IBRD), a part of the World Bank Group, primarily provides loans and guarantees to middle-income and creditworthy low-income countries.

Statement II: “It works single-handedly to help developing countries to reduce poverty.”

This statement is incorrect. The IBRD does not work single-handedly; rather, it collaborates with other institutions, governments, and international organizations to achieve its goals of poverty reduction and sustainable development.

Statement III: “It was established to help Europe rebuild after the World War II.”

This statement is correct. The IBRD was established in 1944 as part of the Bretton Woods system, initially to help European countries rebuild their economies after the devastation of World War II.

Correct answer is option (c).

Explanation : 

I. It has recommended grants of ₹4,800 crores from the year 2022-23 to the year 2025-26 for incentivizing States to enhance educational outcomes.

This statement is correct. The 15th Finance Commission recommended grants of ₹4,800 crore (₹1,200 crore each year) from 2022-23 to 2025-26 to incentivize states to improve educational outcomes.

II. 45% of the net proceeds of Union taxes are to be shared with States.

This statement is incorrect. The 15th Finance Commission recommended that the states’ share in the central taxes (vertical devolution) be maintained at 41% for the period 2021-26. This is a 1% decrease from the 42% recommended by the 14th Finance Commission, adjusted due to the formation of the new Union Territories of Jammu and Kashmir and Ladakh.

III. 45,000 crores are to be kept as performance-based incentive for all States for carrying out agricultural reforms.

This statement is correct. The Commission recommended ₹45,000 crore as a performance-based incentive for all states to carry out agricultural reforms.

IV. It reintroduced tax effort criteria to reward fiscal performance.

This statement is correct. The 15th Finance Commission reintroduced a tax effort criterion to reward fiscal performance, assigning it a weightage of 2.5% for horizontal devolution.

Based on the analysis, statements I, III, and IV are correct. Correct Answer: C

Explanation : 

Fiscal deficit (FD) is defined as total government expenditure minus total receipts other than borrowings (i.e. revenue receipts plus non-debt capital receipts). In this problem FD is given as ₹50,000 crores, which already takes into account the ₹10,000 crore of non-debt capital receipts.

Primary deficit (PD) is the fiscal deficit net of interest payments. Equivalently,

PD = FD – Interest Payments.

Given, FD = ₹50,000 crores

Interest liabilities = ₹1,500 crores

Therefore, Gross Primary Deficit = FD – Interest

= 50,000 – 1,500

= ₹48,500 crores.

Hence the correct choice is (a) ₹48,500 crores.

Explanation : 

Statement I: Peninsular India will most likely suffer from flooding, tropical cyclones and droughts. While climate change is linked to an increase in the frequency and intensity of extreme weather events like floods, cyclones, and droughts, the World Bank’s warning about wet-bulb temperatures specifically focuses on the direct physiological impact of combined heat and humidity.

High wet-bulb temperatures primarily indicate severe heat stress, not directly an increase in flooding, cyclones, or droughts, although these are all broader climate change impacts that India is vulnerable to. The report highlights that India will witness rising temperatures and heat stress due to climate change.

Statement II: The survival of animals including humans will be affected as shedding of their body heat through perspiration becomes difficult. This statement accurately reflects the implication of high wet-bulb temperatures. Wet-bulb temperature is a measure that combines air temperature and relative humidity, providing a more accurate indication of heat stress on the human body.

When the wet-bulb temperature reaches or exceeds approximately 35°C, the air is so saturated with moisture that sweat cannot evaporate effectively, making it extremely difficult for humans and other animals that rely on evaporative cooling (like sweating or panting) to release excess body heat. Prolonged exposure to such conditions can lead to heatstroke, organ failure, and even death, as the body’s core temperature rises uncontrollably.

The World Bank report highlights that India is particularly vulnerable to these extreme heat conditions, which pose direct health and survival risks, potentially breaking the human survivability limit.

Therefore, Statement II best reflects the implication of the World Bank’s report concerning high wet-bulb temperatures.

The correct answer is II only.

Explanation : 

Statement I is incorrect. The United States is the world’s largest producer of ethanol, while Brazil ranks as the second largest. For instance, the United States produced over 15 billion gallons of ethanol in 2021 and 2022, making it the leading global producer.

Statement II is correct. In the United States, corn is the principal feedstock for ethanol production, accounting for approximately 97% of the ethanol produced. In contrast, sugarcane is the primary feedstock for ethanol production in Brazil, although corn ethanol production is growing in the country.

Therefore, Statement I is not correct, but Statement II is correct.

Explanation : 

The International North-South Transport Corridor (INSTC) is a multimodal transportation network established to enhance connectivity between India, Central Asia, and Europe. It aims to facilitate trade and transportation by providing a shorter and more efficient route compared to traditional maritime routes. INSTC connects India with Europe through Iran, Azerbaijan, and Russia, significantly reducing transit time and transportation costs. India, as one of the founding members, has actively supported this corridor to strengthen its economic and strategic ties with Central Asia and Europe.

Explanation : 

The key fiscal‐deficit concepts are:

1. Revenue deficit = Revenue expenditure − Revenue receipts
2. Fiscal deficit = Total expenditure − (Revenue receipts + Non‐debt capital receipts) = Government borrowings
3. Primary deficit = Fiscal deficit − Interest payments

Given: • Revenue expenditure = ₹80,000 cr • Revenue receipts = ₹60,000 cr • Borrowings = ₹10,000 cr • Interest payments = ₹6,000 cr

I. Revenue deficit = 80,000 − 60,000 = 20,000 cr ✔

II. Fiscal deficit = Borrowings = 10,000 cr ✔ (Or equivalently, Total outlays 80,000 − Receipts 60,000 = 20,000; if 10,000 is met by non‐debt capital receipts, the remaining 10,000 is financed by fresh borrowings.)

III. Primary deficit = Fiscal deficit − Interest payments = 10,000 − 6,000 = 4,000 cr ✔

Hence all three statements are correct.

Answer: (d) I, II and III.

Explanation : 

The Nature Restoration Law (NRL) was enacted by The European Union (EU). This law is a key element of the EU Biodiversity Strategy for 2030, which is part of the European Green Deal, and aims to reverse the degradation of ecosystems and the loss of biodiversity in Europe. It sets legally binding targets for EU Member States to restore at least 20% of the EU’s land and sea areas by 2030, with the goal of having all ecosystems in need of restoration fully restored by 2050.

Explanation : 

Statement I: In India, State Governments have no power for making rules for grant of concessions in respect of extraction of minor minerals even though such minerals are located in their territories.

This statement is incorrect.

Section 15 of the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act, 1957) explicitly empowers State Governments to make rules for regulating the grant of quarry leases, mining leases, or other mineral concessions in respect of minor minerals and for purposes connected therewith. This means that the regulation and grant of concessions for minor minerals fall entirely within the legislative and administrative domain of the State Governments.

Statement II: In India, the Central Government has the power to notify minor minerals under the relevant law.

This statement is correct.

Section 3(e) of the MMDR Act, 1957, defines “minor minerals” to include building stones, gravel, ordinary clay, ordinary sand, and “any other mineral which the Central Government may, by notification in the Official Gazette, declare to be a minor mineral.” This clearly grants the Central Government the authority to classify and notify minerals as ‘minor minerals’.

Conclusion: Statement I is incorrect, and Statement II is correct. The final answer is d.