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Correct Answer : 1% to 1.7%
The World Trade Organization (WTO) on Wednesday (5th April 2023) has raised its projection for global trade growth in 2023 from 1% to 1.7%. * This updated outlook indicates that the global economy is expected to recover faster than previously anticipated. However, the risks associated with these persistent issues remain, and could still impact the growth trajectory of the global trade landscape.* Despite an upward revision in the World Trade Organization’s (WTO) growth forecast for 2023, the global trade body has cautioned that the trade growth is expected to remain subpar due to multiple factors. These factors include ongoing conflicts such as the Russia-Ukraine conflict, stubbornly high inflation, tighter monetary policy, and financial uncertainty.World Trade Growth: Below the 12-year average : The projected trade growth of 1.7% for 2023 is also below the 12-year average of 2.6%, which has been the norm since the global financial crisis in 2008.Covid Relaxation and Banking systems Failure :* However, the WTO has noted that the relaxation of COVID-19 pandemic controls in China is expected to “unleash pent-up consumer demand” in the country and contribute to the boost in international trade.* WTO Chief Economist Ralph Ossa has also warned that interest rate hikes in advanced economies have revealed weaknesses in banking systems that could lead to wider financial instability if left unchecked. He emphasized the need for governments and regulators to remain alert to these and other financial risks in the coming months.World Trade Organization (WTO): Trade growth to rebound :* Amid the uncertainties and risks facing global trade, there is some positive news as the World Trade Organization (WTO) expects trade growth to rebound to 3.2% in 2024. However, this estimate remains uncertain and heavily dependent on the outcome of the conflict between Russia and Ukraine...Source : Business Standard
Correct Answer : Option (C) - Puducherry
* Puducherry led the nation with 53.03% women electors in the 2024 Lok Sabha Elections, making it the state/UT with the highest percentage of women electors. * This significant milestone highlights the territory's efforts towards promoting inclusivity and gender equality in the electoral process. * The achievement is particularly notable, considering the overall increase in female electors and their participation in the elections.
Correct Answer : Option (D) - South Korea
* South Korea's parliament impeached Acting President Han Duck-soo on December 27, 2024, amid growing dissatisfaction over his refusal to appoint three judges to the Constitutional Court. * This event followed the impeachment of President Yoon Suk Yeol on December 14, 2024, after he briefly imposed martial law. * The impeachment of Han marked a historic moment as it was the first time an acting president in South Korea was impeached. * The political crisis significantly impacted the country, contributing to economic instability, with the Korean won reaching its lowest value in nearly 16 years.
Correct Answer : Option (B) - Sikkim
* The Kagyed Dance Festival is a major Buddhist celebration in Sikkim, held annually at Tsuklakhang Palace in Gangtok. * Featuring traditional Cham dances performed by masked monks, the festival symbolizes the destruction of evil forces and the welcoming of peace and prosperity. * Rooted in Tibetan Buddhism, it attracts locals and tourists alike, showcasing Sikkim's rich cultural and spiritual heritage.
