Answer: Option A - Meghalaya

Explanation:

• The 40-million-year-old whale ancestor fossil was discovered in February 2024 in Tolegre village, located in Meghalaya’s South Garo Hills district.
• This significant palaeontological find sheds light on the evolution of whales and is believed to belong to either the genera Rodhocetus or Ambulocetus, both extinct species of Palaeogene whales.
• The Meghalaya government has expressed intent to protect and study the fossil, emphasizing its importance to the field of palaeontology.

Answer: Option D - Market value method

Explanation:

• The three primary methods used to calculate GDP are the expenditure method, income method, and output method.
• The expenditure method sums up total spending on final goods and services.
• The income method calculates total income earned by individuals and businesses.
• The output method, also known as the production method, sums the value added at each stage of production.

The "market value method" is not a recognized GDP calculation method

Answer: Option A - World Trade Organization (WTO)

Explanation:

• The Generalized System of Preferences (GSP) is a trade program under the World Trade Organization (WTO) that allows developed countries to offer preferential market access to goods from developing countries.
• This helps boost exports from developing nations by providing lower duties or duty-free access to certain goods, fostering their economic growth and development.
• GSP is aimed at promoting trade as a tool for economic advancement in poorer economies.5

Answer: Option A - India receives the highest remittances globally.

Explanation:

• India has consistently been the top recipient of remittances globally, with a significant portion of these funds coming from the Indian diaspora working in countries like the UAE, the US, and Saudi Arabia.
• These remittances play a crucial role in supporting household incomes, enhancing economic stability, and reducing poverty in India.

The funds are primarily directed towards consumption, savings and investment in the manufacturing sector, aiding overall economic growth

Answer: Option C - Growth in GDP, employment, and services exports

Explanation:

• The Economic Survey 2024-25 highlights the service sector's crucial role in India's economy by contributing to GDP growth.
• The service sector provides significant employment (around 30% of the workforce), and driving exports, particularly in computer and business services.
• The sector's contribution to GVA has steadily increased, and its expansion helps compensate for fluctuations in merchandise exports.
• The growth of services exports, which surged by 12.8% in FY25, underscores this importance.