CLAT Economics Practice Questions With Solutions

Chinese President Xi Jinping and Indian Prime Minister Narendra Modi used a BRICS summit in Russia recently to showcase ambitions for a more harmonious relationship between the world's two most populous countries after years of animosity. The meeting between Xi and Modi, who have not held formal talks for five years, was one highlight of a summit. BRICS also gave an opportunity to the Russian President Vladimir Putin for showcasing that the West had failed to isolate Russia over the Ukraine war. A final communique listed a number of projects aimed at facilitating trade between BRICS nations - including an alternative payment system to the dollar - but did not include details or timelines. Just two days after New Delhi announced that it had reached a deal with Beijing to resolve a four -year military stand -off on their disputed Himalayan frontier, Xi told Modi that they should enhance communication and cooperation and effectively manage diffe rences. BRICS - an idea thought up inside Goldman Sachs two decades ago to describe the growing economic clout of China and other major emerging markets - is now a group that accounts for 45% of the world's population and 35% of the global economy. Former Goldman Sachs economist Jim O'Neill, who coined the BRIC term in 2001, told Reuters that he had little optimism for the BRICS club as long as China and India remained so divided. "It seems to me basically to be a symbolic annual gathering where important emerging countries, particularly noisy ones like Russia, but also China, can hasically get together and highlight how good it is to be part of something that doesn't involve the U. S. and that global governance isn't good enough," The 43 -page final communique from the summit ranged from geopolitics and narcotics to artificial intelligence and even the preservation of Big Cats, but lacked detail on some major issues. It mentioned Ukraine just once.

Every second patent granted in India between 2016 -2021 is related to green technology and a quarter of the green technology patents are concerning alternative energy production, coinciding with the Centre’s efforts on “enhanced use of green technology for boosting economy and encouraging consumers to use products produced through use of such technology”. Data from the Ministry of Commerce and Industry shows that more than 91,500 patents were granted between 2016 -17 and 2020 -21, while the data for 2021 -22 was not immediately available. However, going by the trend in the past two years, India is expected to clear at least 25,000 more applications this year. Separate data from the ministry shows that between 2016 -17 and 2021 -22 (up to January), 61,186 patent s related to green technologies have been granted in the said period. Of these, 90% are for technologies concerning waste management and alternative energy production - 38,837 or 63% of them are related to waste management and more than 16,000 or 26% are for alternative energy production. The rest of the green technology patentsare for energy conservation (2,555), transportation technologies (2,481), nuclear power generation (1,079),agriculture -and-forestry (161),and others (69).