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UPSC Mains General Studies Paper 1 - Question Paper 2021 - Analysis and Answers
UPSC MAINS GENERAL STUDIES PAPER – 1 MAINS 2021
GENERAL STUDIES - PAPER – 1
Q1. Evaluate the nature of the Bhakti Literature and its contribution to Indian culture. (Answer in 150 words) 10 Q2. Trace the rise and growth of socio-religious reform movements with special reference to Young Bengal and Brahmo Samaj. (Answer in 150 words) 10 Q3. Assess the main administrative issues and socio-cultural problems in the integration process of Indian Princely States. (Answer in 150 words) 10 Q4. Differentiate the causes of landslides in the Himalayan region and Western Ghats. (Answer in 150 words) 10 Q5. Despite India being one of the countries of the Gondwanaland, its mining industry contributes much less to its Gross Domestic Product(GDP) in percentage. Discuss.(Answer in 150 words) 10 Q6. what are the environmental implications of the reclamation of the water bodies into urban land use? Explain with examples. (Answer in 150 words) 10 Q7. Mention the global occurrence of volcanic eruptions in 2021 and their impact on regional environment. (Answer in 150 words) 10 Q8. Why is India considered as a sub-continent? Elaborate your answer. (Answer in 150 words) 10 Q9. Examine the uniqueness of tribal knowledge system when compared with mainstream knowledge and cultural systems. (Answer in 150 words) 10 Q10. Examine the role of ‘Gig Economy’ in the process of empowerment of women in India. (Answer in 150 words) 10 Q11. To what extent did the role of the moderates prepare a base for the wider freedom movement? Comment. (Answer in 250 words) 15 Q12. Bring out the constructive programmes of Mahatma Gandhi during Non-Cooperation Movement and Civil Disobedience Movement. (Answer in 250 words) 15 Q13. ” There arose a serious challenge to the Democratic State System between the two World Wars.” Evaluate the statement. (Answer in 250 words) 15 Q14. Briefly mention the alignment of major mountain ranges of the world and explain their impact on local weather conditions, with examples. (Answer in 250 words) 15 Q15. How do the melting of the Arctic ice and glaciers of the Antarctic differently affect the weather patterns and human activities on the Earth? Explain. (Answer in 250 words) 15 Q16. Discuss the multi-dimensional implications of uneven distribution of mineral oil in the world. (Answer in 250 words) 15 Q17. What are the main socio-economic implications arising out of the development of IT industries in major cities of India? (Answer in 250 words) 15 Q18. Discuss the main objectives of Population Education and point out the measures to achieve them in India in detail. (Answer in 250 words) 15 Q19. What is Cryptocurrency? How does it affect global society? Has it been affecting Indian society also?(Answer in 250 words) 15 Q20. How does Indian society maintain continuity in traditional social values? Enumerate the changes taking place in it.(Answer in 250 words) 15Analysis and Answers
There are three main subjects in GS Paper 1 in UPSC Mains, History, Geography and Society. Total of 20 questions are asked. Here is the subject wise-weightage of questions asked in UPSC GS 1 Mains 2021:- Art and Culture, Ancient History and Medieval History: Total 1 Question (Q No. 1)
- Modern History: Total 3 Questions (Q No. 2, 11, 12)
- World History and Post Independence History: Total 2 Questions (Q No 3, 13)
- Geography: Total 8 Questions (Q No 4, 5, 6, 7, 8, 14, 15, 16)
- Society: Total 6 Questions (Q No 9, 10, 17, 18, 19, 20)
- You can solve 12 questions directly from PYQs. Question no 1, 2, 3, 4, 6, 11, 12, 14, 15, 17, 18, 20 can be directly solved from PYQs.
- In question no 9, 10 and 19, PYQs will help, as these are modified from Previous Year Questions.
- Total 5 questions are new. Question no. 5, 7, 8, 13 and 16 are asked first time, but can be solved from OUR TEXTBOOKS.
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- Egalitarian approach: It disregarded caste and gender, and carried their message of love and personal devotion to God to various parts of India.
- Emphasis on local and regional languages: Bhakti saints wrote and preached in vernacular languages. eg. Alvars and Nayanars used local Tamil language instead of Sanskrit. Surdasa preferred Brijbhasha. Due to this factor, they got acceptance by people easily.
- Reduced evils in society: The Bhakti literature began to be composed in the sixth century AD in south India by the Tamil poet-saints. Many social abnormalities existed in the society, e.g. caste rigidity, irrelevant rituals and religious practices, blind faiths, and social dogmas. The bhakti literature preached against all such evils.
- Simple approach to religion: The sophisticated philosophy of Vedas and Upnishadas literature was very difficult for ordinary people to understand. People were looking for a simple form of worship, religious activities, and social norms. Bhakti literature was an alternative—a basic form of devotion that provided salvation from the material life.
- Secular and tolerant character: Although, the bhakti literature was of bhakti literature propagated by Hindu saints, it was tolerant to other relegions. Secularism is visible in it.
- The Bhakti literature spread easily among masses and influenced local culture. It led to disgorgement of immoral acts such as infanticide and sati, as well as the prohibition of wine, tobacco etc.
- It Another notable influence was the creation of solidarity between the Hindu and Muslim communities. The secular character of bhakti literature, along with the sufi literature reduced the religious conflicts.
- The movement attempted to bridge the gap between the two by reducing the growing bitterness between them. The Sufi saints and Bhakti saints transmit a message of friendliness, amity, tolerance, peace, and equality to all.
- It played a crucial role in the emergence of modern poetry in India.
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- Of transforming the states into viable administrative units;
- Of absorbing them into the constitutional units.
- During India’s declaration of independence, Britain stated that princely states could either join India or Pakistan, or they could remain independent.
- This clause caused a lot of uncertainty.
- The rulers of princely states were unable to contemplate relinquishing their power under the Indian Constituent Assembly.
- For a variety of reasons, these governments used varied administrative techniques; some were aristocratic, others had substantial contrasts between them, and people with different beliefs, attitudes, and cultures, to name a few.
- Following the end of British supremacy, princely kingdoms began to want independence.
- It was thought that after the British left, the situation in the Princely states would devolve into lawlessness and disorder, and that having ties to a power centre would help to manage the situation.
- The emergence of hundreds of separate states will render India’s freedom effort worthless.
- As a result, princely state merger became a top priority for Indian authorities.
- By August 15, 1947, rulers of all 652 states had signed the Instrument of Accession, with the exception of Junagarh, Kashmir, and Hyderabad.
- The Nawab of Junagadh wanted to join Pakistan, but his people preferred Indian sovereignty.
- Hyderabad aspired to be a sovereign state.
- Kashmir was ruled by a Hindu ruler and had a Muslim majority. The prince envisioned the state as an autonomous entity, and he was hesitant to join either India or Pakistan.
- The integration process was hampered by three significant issues: first, their aspiration for independence, second, their desire to integrate with Pakistan, and third, the difficulties of administrative integration following political integration.
- Pakistan was also influencing these states’ decisions by providing them financial and political incentives if they acceded to Pakistan. For Indian leaders, this was a major headache.
- Viceroy Lord Mountbatten and Congress leaders began negotiations with the rulers to guarantee that princely states did not succeed in their drive for independence.
- Sardar Patel, the principal architect of India’s creation, appealed to monarchs’ patriotic feelings to join the Indian dominion in terms of defence, communication, and foreign affairs.
- The rulers consented to transfer control of Defense, External Affairs, and Communication under the terms of an Instrument of Accession (IoA).
- Various states have joined the Indian Union, but others were still on the verge of leaving.
- In the event that the Hyderabad force was employed, a plebiscite was held in Junagadh, and the Maharaja of J&K signed an IoA after Pakistan threatened to attack.
- The act of joining did not imply integration. Following the British exit, princely states formed the States Peoples Congress, which demanded full democratic representation.
- Sardar Vallabhbhai Patel took use of the chance to negotiate for full integration into India, promising the monarchs tax-free privy purses, the right to keep their titles, property, and palaces in exchange.
- Part A-Chhattisgarh, Gujarat-incorporating minor states into contiguous provinces.
- At the same time, other states, such as Himachal Pradesh and Manipur, will be administered centrally for strategic or exceptional reasons mentioned in Part C.
- After two years of independence, the country was fully integrated. Apart from the diplomatic manoeuvrings of Congress leaders, the integration process was propelled by popular outcry and demands.
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- Plate Tectonics: Himalayan region is tectonically active as the Indian Plate is moving towards the north at the rate of 5 cm/year. This movement leads to collision of the Indian Plate with the Eurasian Plate, that causes frequent tremor and isostatic imbalances. But the Western Ghats are tectonically more stable as compared to the Himalaya.
- Exogenetic forces: The Himalayan region is the source of many rapid flowing rivers such as the Ganges, the Indus, the Brahmaputra etc. These running rivers cause a large scale erosion of mountainous region which also a cause of landslide. In the Western Ghats, perennial rivers are rare.
- Rock structure: The Himalayan region is composed of a sedimentary rocks which are more prone to denudation and erosion as compared to the other rocks. While, the major part of Western Ghats is composed of a basalt rocks which shows great resistance to erosion and denudation.
- Human interference: The development activities such as construction of roadways and railways, haphazard urbanization ignoring the slope aspects of the landscape etc aggravated the occurrence of landslide. As the Western Ghats is notified as Biodiversity Hotspot, the human interference is less as compared to the Himalayan region and less prone to landslides.
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- Loss of Public Revenue: Driven by lobbying, political donations, and corruption, minerals are frequently sold at prices significantly lower than the actual worth price. Illegal mining has a similar effect while additionally causing loss of public revenues. According to the International Monetary Fund, due to unsustainable mining, many governments of resource-rich nations face declining public sector net worth.
- Large Number of Small Mines: In India, many small mines operate in most states. These present difficult challenges for sustainable development as their financial, technical, and managerial limitations restrict their ability to take adequate corrective measures.
- Growing Inequality & Loss of Natural Wealth: Naturally, the extractors are keen to extract as quickly as possible and move on which deepens inequalities, as a few extractors acquire wealth without proper redistribution to the people. It also results in the loss of natural wealth. For example, it is estimated from the annual reports of Vedanta that over eight years (2004-2012), the State of Goa lost more than 95% of the value of its minerals.
- Easy Question.
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- Numbers of waterbodies declining rapidly: Bangalore had 262 lakes in the 1960s; now only 10 of them hold water. At least 137 lakes were listed in Ahmedabad in 2001; construction work started on 65 of them. Hyderabad has lost 3,245 hectares of its wetlands.
- Concretisation has been a major problem in several cities and towns, according to The National Disaster Management Guidelines: Management of Urban Flooding report, published by the National Disaster Management Authority (NDMA) in 2010. 31 per cent of the country was urbanised in 2011. Natural streams and watercourses, formed over thousands of years due to the forces of flowing water in the respective watersheds, have been altered because of urbanisation.
- there have been large scale encroachments on the natural drains and the river flood plains. Consequently, the capacity of natural drains has decreased, resulting in flooding.Urban water bodies have been a victim of unplanned urbanisation in India, because of which they face several threats such as encroachment, disposal of sewage, groundwater decline leading to fall in the level of water, unplanned tourism and absence of administrative framework
- Pollution: There has been an explosive increase in the urban population without corresponding expansion of civic facilities such as infrastructure for the disposal of waste.
- The water bodies have been turned into landfills in several cases. Guwahati’s Deepor beel, for example, is used by the municipal corporation to dump solid waste since 2006. Even the Pallikarni marshland in Chennai is used for solid waste dumping.
- Adding to the sorry state of urban water bodies is the misuse by local communities for their cultural or religious festivals such the immersion of idols. Heavy metal concentration can be found in lakes in Nagpur and Bhopal and the Hussainsagar Lake in Hyderabad after idol immersion every year.
- Encroachment: This is another major threat to urban water bodies. As more people have been migrating to cities, availability of land has been getting scarce. Today, even a small piece of land in urban areas has a high economic value. These urban water bodies are not only acknowledged for their ecosystem services, but for their real estate value was well. Charkop Lake in Maharashtra, Ousteri Lake in Puducherry, Deepor beel in Guwahati are well-known examples of water bodies that were encroached.
- The size of this city wetland has been decreasing rapidly. Once a bird sanctuary, it is now the dumping yard of the city: Dumping of solid waste, sewage discharge and construction of railway stations and roads have shrunk this wetland.
- Illegal mining activities: Illegal mining for building material such as sand and quartzite on the catchment and bed of the lake have extremely damaging impact on the water body. For example, the Jaisamand Lake in Jodhpur, once the only source of drinking water for the city, has been suffering from illegal mining in the catchment area for the last 20 years despite a court order to stop mining in 1999.Badkhal Lake in Faridabad has dried up in the same way. Unmindful sand mining from the catchment of Vembanad Lake on the outskirts of Kochi has decreased the water level in the lake.
- Unplanned tourism activities: Using water bodies to attract tourists has become a threat to several urban lakes in India. Tso Morari and Pongsho lakes in Ladakh have become polluted because of unplanned and unregulated tourism. Another example is that of Ashtamudi Lake in Kerala’s Kollam city, which has become polluted due to spillage of oil from motor boats.
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- Volcanic materials break down and weather to form the most fertile soils on Earth.
- The internal heat associated with young volcanic systems has produce geothermal energy.
- Metallic minerals mined in the world–such as copper, gold, silver, lead, and zinc–are associated with magmas found deep within the roots of extinct volcanoes.
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- Because India is a separate landmass and not just a country, it is sometimes referred to as a subcontinent. It is not as huge as a continent, but it possesses some of the characteristics of one, thus it is not classified as such.
- Geologically, earlier India was a continent, that rifted from the supercontinent Gondwana during the Cretaceous and merged with the Eurasian landmass 55 million years ago.
- Geographically, it is the peninsular region in South-Central Asia.
- It covers 2.4% of the earth’s total land area. It has a long land frontier of about 15,200 km and coastline of about 7516.6 km.
- It’s natural frontiers like the Himalaya’s in the North and the Deccan Peninsula in the South give it a unique political identity.
- From a political perspective, the Indian subcontinent consists of at least 7 countries : India, Pakistan, Nepal, Bhutan, Bangladesh, Sri Lanka, and the Maldives.
- The people of the Indian subcontinent have shared ethnic, linguistic, cultural and historical connections.
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- Tough Question:
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- Alternative work arrangements: The Alternative work arrangements in the gig economy have the potential to absorb more women and increase their participation in the workforce.
- Around 57% of the surveyed firms agree that the gig economy will itself expand and boost women’s job prospects because it is based on flexible, temporary or freelance jobs, often involving connecting with clients or customers through an online platform.
- Use of digital technology: A boost in the use of digital technology and increased acceptance of virtual working for sales and distribution jobs which could open opportunities for women to enter fields where interactions are managed through apps and phone calls.
- In high-skill and low-skill jobs, the impact of technology is gender-neutral.
- Key sectors: The study also reflects that some key sectors that are likely to see an increase in women's employment are health and pharmaceuticals (by 59 per cent), electrical and electronics (by 44 per cent) and fast-moving consumer goods (perishable goods) industry (by 41 per cent).
- Reskilling: Around 73 per cent of the respondent firms agree that reskilling, specifically in the formal sector, is likely to play a crucial part in shaping the work of tomorrow.
- Suggestions
- The study gives hope for a better future with more employment opportunities for women.
- However, concerted efforts are needed to understand how new technologies are impacting specific industries and to address challenges facing women in entering or remaining in the workplace.
- To safeguard the interest of both employers and employees, some labour laws and regulations are required in the changing world of work.
- The adoption of new technologies could create better opportunities for women.
- Re-skilling will be crucial to expand opportunities for women in the formal sector.
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- Their demands, like their agitation, were constitutional.
- Their tactics were dubbed “Passive Resistance.” Their method of operation was based on boycott.
- Reduce land revenue and protect peasants from zamindars’ illicit revenue collecting.
- To cut down on military spending.
- Increase the amount of money allocated to activities like health and education.
- To get rid of the salt tax.
- To enhance plantation labourers’ working conditions.
- With the support of agricultural banks, give lower-cost credit to peasants.
- They asked that Indian industry be developed and protected by increasing tariffs on imports and government assistance.
- Increase the number of Indians in the councils.
- They requested more control over financial problems such as the budget.
- The long-term goal was to achieve self-government.
- There is a push to increase the number of Indians in government jobs. They said that because British bureaucrats and officers are paid well, an increase in the number of Indians would lessen the government’s financial burden. Second, Indianization of government services would lessen the wealth drain caused by British officials’ wages and pensions being sent back to the UK. Finally, they chastised the British for discriminating against Indians by excluding them from key administration positions.
- They urged that Indian civil service examinations be held simultaneously in India and England. This was done in order to enhance Indian participation in government services.
- They demanded the separation of the Executive and Judiciary to prevent arbitrary police and bureaucratic operations. They also chastised the bureaucracy for being repressive and authoritarian, as well as the judiciary for being expensive and time-consuming.
- They requested that several unjust laws, such as the Arms Act and the License Act, be repealed.
- They requested that municipal and local governments be reformed to give them more power and resources. This was done to improve the administration’s overall welfare and administrative efficiency.
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- A Tough Question, as students have left studying world history. Otherwise, it is an easy question.
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- Moderate Question.
- This question demands the knowledge of climatology. eg. Impact on Jet streams, monsoon, rainfall, local winds, winters, fog, agricultures etc.
- Questions on all the above topics area asked previously by UPSC.
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- Scientists are now paying special attention to warming in Antarctica, which contains 90 percent of the world’s ice. If it all melted, sea levels would rise by 190 feet. Since 1880, the oceans have risen more than 8 inches, and Antarctica lost 2.71 trillion metric tonnes of ice between 1992 and 2017. Half of these losses occurred in the last five years, indicating that the melting rate is accelerating.
- Melting of Arctic will lead to condition of weak polar jet stream, which leads to extreme climatic events.
- The chain of events that connects the melting Arctic to weather to the south starts with rising global temperatures, which cause more sea ice to melt. Unlike on the Antarctic continent, melting ice in Arctic region exposes the dark ocean beneath, which absorbs more sunlight than ice and thus warms even more. Because of this feedback loop, the Arctic is warming much faster than the rest of the planet.
- This, in turn, reduces the temperature differential between the Arctic and lower latitudes, which is important since it is the temperature gradient between them that drives the jet stream wind, which streaks around the pole at up to 250mph and 8km above the surface.
- Blockage patterns caused by slow-moving jet stream meanders have been strongly associated with some devastating events, including the 2010 summer flooding in Pakistan, which killed 2,000 people and affected 20 million, and a heat wave in Russia that same year. resulting in 50,000 deaths and $ 15 billion (£ 12 billion) worth of crops destroyed.
- The jet stream separates the chilly north from the warmer south, but the reduced temperature difference means the winds are now weaker. This causes the jet stream to meander more, with large loops delivering warm air to the frigid north and cold air to the warmer south.
- The other major influence on the jet stream is the tropics’ sea surface temperature, which waxes and wanes with El NiNo, while solar cycles and even volcanic eruptions have smaller affects.
- So far, the strongest link between Arctic melting and weather has been for extreme winter conditions, such as the hard winters that affected areas of North America and northern Europe in 2009-10, 2010-11, and 2013-14, generating record snowfalls and billions of dollars in damage.
- Also, in addition to displacement, sea level rise will increase nuisance flooding, saltwater intrusion, and higher storm surges during hurricanes. These kinds of disruptions are already occurring around the world, destroying homes and livelihoods and claiming thousands of lives. However, as the planet continues to warm, millions more people will face greater dangers.
- Moderate Question.
- Earlier UPSC asked about the implications of Petroleum refineries being far from the oil producing areas in 2017.
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- World has witnessed various wars to acquire the mineral oil reserves by considering its economic value. USA’s interference in the geo politics of West Asia is also one of the reasons of uneven distribution of oil mineral.
- According to the survey, Oil-producing countries are 50% more likely to be autocratic, and civil wars are more than twice as likely in oil-producing countries as in non-oil-producing countries. These political and military consequences are linked to statistics indicating that these states are more secretive, financially volatile, and discriminate against women in economic and political opportunities.
- Many developing and least developed nations has to face huge trade deficit due to lack of oil reserves. For example, India’s dependence for oil and natural gas in the major reasons behind India’s current account deficit.
- On the other hand, Countries may not have the resources they require, but trade allows them to obtain those resources from places that do. Japan is a country with very few natural resources, but it is one of the richest in Asia.
- Uneven distribution of oil reserve give autonomy to oil producing nations to decide the prices of crude oil. This makes the Global oil market volatile, which leads to rise in oil prices. Hike in oil prices will lead to inflation in the domestic market of various nations.
- Availability of Oil reserves leads to more job opportunities in middle east. That is the reason why India has a large diaspora in the middle east.
- It is critical to understand that, while resources are extremely important, it is not the presence or absence of natural resources within a country that determines its prosperity. In fact, some of the wealthier countries lack natural resources, whereas many poorer countries have plenty.
- Even though Oil resources are unevenly distributed, but it does not have a direct correlation with environmental degradation. For Example, USA following china and India are the largest contributors to greenhouse gas emissions, but they are not the major oil producing nations.
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- Demographic Dividend: India’s IT sector has huge potential. Due to high demand majority of Indian youth are acquiring skill sets on par with IT sector. Due to this India is moving towards to direction of skills economy. More youth are getting employment in this sector, which will contribute to the overall growth of the Nation.
- Good Governance: India’s strong IT sector opens the door for policymakers to utilize ICT technologies to solve the socio economic issues of the nation. JAM, Digital India, Smart cities program etc. are the steps in the direction of Good governance, which would not have implemented efficiently without strong IT Industries.
- Improving criminal Justice system: IT sector has various positive implications. Digitalization of criminal justice system has the potential to address various social problems.
- Boost to Start ups: IT sector has brought the startup culture. Cities like Bangalore and Hyderabad are tagged as start-up hubs of India. This generates immense employment opportunity. India can also become major power in services sector if India startups are getting a conductive environment to grow. India is the world’s leading sourcing destination, accounting for approximately 55% of the US$ 200-250 billion global services sourcing business in 2019-20.
- Reducing Disparities: Stand up India is government of India’s flagship program to promote entrepreneurship among SCs and STs community. This will reduce the disparities prevailed in the Indian society. This also shows that IT sector is leading towards Inclusive growth.
- Addressing environmental issues: Industry 4.0 has the potential to solve the prevailing climate change problems. Air and water pollution are the most alarming problems in various Indian cities. Growth of IT sector will lead to innovations, which in turn solve these alarming issues.
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- Hunger Issue: India ranked 101st out of 116 Nations in the recently published Global Hunger Index. Despite the green revolution’s spectacular success, the food crisis persists due to a massive increase in population. The nutritional value of the food consumed is also low. The increase in population is cancelling out scientific and technological advancements.
- Over the last five decades, there has been remarkable progress in both the industrial and agricultural sectors. However, their per-capita consumption has not increased. The increased facilities in various sectors of life are falling short of meeting the needs of the growing population.
- Immense burden on environment: An increasing number of people cannot survive just on agriculture. They move to cities, big cities, and industrial districts. This condition is causing issues such as water and air pollution, transportation, a lack of housing, overcrowding in schools, and the emergence of slums. All efforts to prepare for progress are being thwarted by the country’s growing population.
- Education and Healthcare issues: India growing population is adversely affecting the human resources indicators like education and healthcare. During the covid 19 pandemic it was visible that, India’s fragile healthcare is not component to accommodate India’s growing population. Education and healthcare system are bedrock of any Nation’s economic and social development. Population control measures are imperative to provide quality education and healthcare facilities.
- Minimum age of Marriage: Because fertility is affected by the age of marriage. As a result, the marriage age should be raised. The minimum age for marriage in India is 21 years for men and 18 years for women, as mandated by law. This rule should be strictly enforced, and people should be made aware of it through public awareness.
- Women Empowerment: Women continue to face discrimination. They are imprisoned within the four walls of the house. They are still limited to childrearing and childbearing. As a result, women should be offered opportunities for social and economic development. They should be provided with free schooling.
- Promoting Family Planning: People can control the birth rate by taking preventive measures. This strategy is widely utilized; its success is dependent on the availability of low-cost contraceptive devices for birth control.
- The government can provide several forms of incentives to people in order to encourage them to use birth control methods. Monetary incentives and other benefits, such as paid leave and promotion, can be offered to the working class that adheres to modest family standards.
- Communication media such as television, radio, and newspapers are effective means of disseminating the benefits of planned families to the uneducated and illiterate, particularly in rural and disadvantaged sections of the country.
- Tough Question: You need to talk about Cryptocurrency in first part only. Rest of the question is on social impacts of such transactions.
- Last two parts of the questions on Cryptocurrency.
- A gig economy mainly consists of temporary and flexible jobs. Companies tend to hire independent contractors and freelancers, instead of the full-time workers or employees. Gig workers are independent contractors, online workers, contract firm workers, telephonic or on-call workers and temporary workers.
- Cryptocurrency is a newly evolved digital payment system. It’s a peer-to-peer transaction system, that doesn’t rely on banks to verify transactions. can enable anyone to send and receive payments.
- Last two parts of the questions on Cryptocurrency.
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- Severe indulgence in the financial illegitimate activities as in case of Narcotics, terror financing and money laundering.
- The excessive use of the illegal narcotics business puts to test our youth and closes the window of the Demographic dividend short open.
- The business of terror financing puts the security of the country in a jeopardy.
- Money Laundering poses for wide open inequalities and social injustice in society.
- Cause of excessive environmental degradation and a digital Divide.
- It increases the e waste and electricity consumption.
- The possibility of Tax evasion and the lack of traceability that defeats the aim of the progressive taxation and is bad for the society. The government too is deprived of the tax revenue.
- Crypto currency lacks an intrinsic value this too can put way forth the consequence of the investment on the ponzi schemes that deliberately wastes the hard earned money of the investors.
- Digital Divide and inequality in the Financial Literacy, Access Points.
- Further tightens for CYber Terrorism/Nuclear Attack/Natural Disaster. As the economy continue to rests on it anything untoward happens will malfunction the entire economy.
- It tends to reduce the cost of printing physical currency and that money can be used for the betterment and the development of the society.
- Reduces the Scope for counterfeiting.
- There is a promptness of disbursal of money where just one click away will be many things.
- This allocation of new money can be used for the development of various sectors.
- Spread of virus through physical currency notes.
- Easy Question.
- Repeated questions UPSC Previous Year Question with slight modification.
- Direct hit from Raja Sir's Cracking IAS "Mains Monger Test Batch".
- Can be solved if you have practiced UPSC Previous Year Question Papers.
- Can be solved using Our text books.and IASGOOGLE.