Consider the following statements about Manasbal Lake:
1. It is a freshwater lake known for extensive growth of lotus plants.
2. It supports rich aquatic biodiversity and is an important habitat for resident and
migratory birds.
3. It is located in the cold desert region of Ladakh.

Answer: (A)
● Manasbal Lake is a freshwater lake located in the Ganderbal district of the Kashmir Valley, Jammu and Kashmir. It is renowned for its extensive growth of lotus (Nelumbo nucifera), which forms an important component of the lake's ecosystem and adds to its ecological and scenic value. Hence, Statement 1 is correct.
● The lake supports rich aquatic biodiversity, including a variety of fish species, aquatic vegetation and invertebrates. It also serves as an important habitat and feeding ground for several resident and migratory waterbirds, contributing significantly to the wetland ecology of the Kashmir Valley. Hence, Statement 2 is correct.
● The cold desert region of Ladakh is characterised by high-altitude arid conditions and a distinct ecosystem. Mansbal Lake is not located in Ladakh; rather, it lies in the temperate Kashmir Valley of the Union Territory of Jammu and Kashmir. Hence, Statement 3 is incorrect.
● Therefore, only Statements 1 and 2 are correct. Hence, option (a) is the correct answer.

With reference to the National Committee on Dam Safety (NCDS), consider the following
statements:
1. It is a statutory body aimed to evolve uniform policies and standards for dam safety in
India.
2. It is headed by the Chairman of the Central Water Commission (CWC).

Answer: (C)
● Statement 1 is correct: The National Committee on Dam Safety (NCDS) is a statutory body constituted under the Dam Safety Act, 2021. Its primary functions include formulating policies and regulations regarding dam safety standards, evolving uniform safety practices, and preventing dam failures across the country.
● Statement 2 is correct: As per the provisions of the Dam Safety Act, the NCDS is chaired by the Chairperson of the Central Water Commission (CWC) ex-officio. The committee also includes representatives from the central government, state governments (by rotation), and dam safety experts.

Therefore, option C is the correct answer.

Consider the following statements regarding the SMILE Scheme:
1. It is a Central Sector Scheme under the Ministry of Social Justice and
Empowerment.
2. It provides rehabilitation and livelihood support to transgender persons and persons
engaged in begging.

Answer: (C)
The SMILE Scheme (Support for Marginalised Individuals for Livelihood and
Enterprise) is structured as an umbrella Central Sector Scheme funded fully by the
Central Government under the Ministry of Social Justice and Empowerment.
Hence Statement 1 is correct.
It is specifically designed to provide comprehensive welfare, rehabilitation, and
livelihood support to two target groups: transgender persons and persons engaged
in the act of begging. Hence Statement 2 is correct.

Therefore, option C is the correct answer.

The Government of India recently deposited its Instrument of Acceptance to become a Party
to the World Trade Organization (WTO) Agreement on Fisheries Subsidies. The Agreement,
adopted at the WTO's 12th Ministerial Conference (MC12), seeks to discipline harmful
fisheries subsidies while promoting the sustainable use of marine resources.

With reference to the WTO Agreement on Fisheries Subsidies, consider the following
statements:
1. It prohibits subsidies to vessels or operators engaged in Illegal, Unreported and
Unregulated (IUU) fishing, as well as subsidies for fishing overfished stocks.
2. The Agreement enters into force only after formal acceptance by two-thirds of the
WTO members.
3. It provides Special and Differential Treatment (S&DT) provisions, including
transitional flexibilities for developing and least-developed countries in respect of
certain fishing activities within their Exclusive Economic Zones (EEZs).

Answer: (D)
● Statement 1 is correct: The Agreement prohibits subsidies granted to vessels or operators
engaged in Illegal, Unreported and Unregulated (IUU) fishing. It also bans subsidies for
fishing overfished stocks, unless measures are in place to rebuild those stocks to
biologically sustainable levels.
● Statement 2 is correct: The Agreement is a new WTO multilateral agreement and enters
into force only after two-thirds of WTO members deposit their Instruments of Acceptance
with the WTO.
● Statement 3 is correct: The Agreement incorporates Special and Differential Treatment
(S&DT) provisions for developing and least-developed countries (LDCs). These include
transitional flexibilities, technical assistance, and capacity-building support to facilitate
implementation, particularly for certain fishing activities within their Exclusive Economic
Zones (EEZs).
● Therefore, option D is the correct answer.

With reference to the Sundarbans National Park, consider the following statements:
1. The Hooghly River flows along the western boundary of the Sundarbans National
Park.
2. The Sundarbans National Park is designated as a Tiger Reserve under Project Tiger.

Answer: (C)
● Statement 1 is correct: The Hooghly River forms the western boundary of the larger
Sundarbans mangrove ecosystem and Biosphere Reserve in West Bengal, India.
● Statement 2 is correct: The region was declared a Tiger Reserve under Project Tiger
in 1973 (one of the original nine tiger reserves declared at the launch of Project Tiger).
The core area of this reserve was later designated as a National Park in 1984.

Therefore, option C is the correct answer.

Consider the following statements:
1. A futures contract gives the buyer the right, but not the obligation, to buy or sell the
underlying asset.
2. An options contract imposes a binding obligation on both the buyer and the seller to
execute the contract.