MCQs - 2026-09

The PLI scheme aims to incentivize domestic production of green energy components, thereby fostering self-reliance and reducing reliance on imports.

The new PLI scheme has been launched by the government to encourage domestic manufacturing of components crucial for the green energy sector.

Keeping the repo rate stable, especially at a level that is not too low, typically signals the RBI's focus on managing inflation and ensuring price stability.

The Monetary Policy Committee (MPC) is mandated by the RBI Act, 1934, to determine the policy repo rate required to meet the inflation target.

The RBI's Monetary Policy Committee (MPC) in its September 2026 review decided to keep the policy repo rate unchanged at 6.5%.

The review of the AIFTA, initiated in 2022 and concluding around 2025-2026, aimed to modernize and upgrade the agreement, making it more user-friendly, simple, and trade-facilitating, thereby boosting bilateral trade and investment.

The ASEAN-India Free Trade Area (AIFTA) is a comprehensive agreement covering trade in goods, services, and investment. The agreements on services and investment came into effect in 2015.

The ASEAN-India Free Trade Agreement (AIFTA) for goods came into effect on January 1, 2010. Agreements on services and investment followed later, coming into effect in 2015.

The Loss and Damage fund, operationalized at COP28 in 2023, is designed to provide financial assistance to developing countries that are particularly vulnerable to the adverse effects of climate change, helping them cope with the unavoidable impacts that go beyond what adaptation can address.

The Green Climate Fund (GCF) was established by the 16th Conference of the Parties (COP 16) to the UNFCCC in Cancun in 2010 and serves as a financial mechanism of the UNFCCC.