(b) Statement 2 is not correct. Indian firm Skyroot Aerospace recently unveiled its indigenously-built Vikram-1 rocket. ■ Vikram-1, named after the father of India’s space programme, Vikram Sarabhai, is a multi-stage launch vehicle with a capacity to place around 300 kg payloads in low-earth orbit. ■ A low Earth orbit (LEO) is, as the name suggests, an orbit that is relatively close to Earth’s surface. ■ It is normally at an altitude of less than 1000 km but could be as low as 160 km above Earth, which is low compared to other orbits but still very far above Earth’s surface. ■ By comparison, most commercial aeroplanes do not fly at altitudes much greater than approximately 14 km, so even the lowest LEO is more than ten times higher than that. ■ The majority of satellites are to be found in LEO, as is the International Space Station (ISS). ■ In order to remain in this orbit, a satellite has to travel at around 17,500 miles per hour (7.8 kilometers per second), at which speed it takes around 90 minutes to complete an orbit of the planet. ■ LEO’s close proximity to Earth makes it useful for several reasons. For example, it is the orbit most commonly used for satellite imaging, as being near the surface allows it to take images of higher resolution.

(b) Statement 2 is not correct. The Ministry of Environment, Forest and Climate Change is organising a Country-Led Initiative (CLI) event as part of the United Nations Forum on Forests (UNFF) from 26-28 October, 2023 at the Forest Research Institute (FRI), Dehradun, Uttarakhand. ■ United Nations Forum on Forests promotes the management, conservation, and sustainable development of all types of forests. ■ It was established in 2000 by the UN Economic and Social Council of the United Nations (ECOSOC). ■ The Forum meets annually at the UN Headquarters in New York, bringing together representatives of all member states and forests-related agencies for high-level dialogue on technical matters in odd years and policy matters in even years. ■ The forum has universal membership, and is composed of all Member States of the United Nations and specialized agencies. ■ India is a founding member of UNFF.

(a) Statement 1 and Statement 2 are not correct. Why in news? Recently, collision between vessels of China and Philippines occurred near Second Thomas Shoal in the Spratly Islands of South China Sea , where China regularly deploys its vessels. ■ Spratly Islands are a large group of reefs, shoals, and atolls in the South China Sea of the Pacific Ocean. ■ South China Sea dispute revolves around multiple claims to islands and reefs and associated territorial waters. ■ South China Sea connects Asia with Europe and Africa (Approx. 21% of global trade transited through it) ■ South China Sea contains approximately 11 billion barrels of oil and 190 trillion cubic feet of natural gas in proven and probable reserves. ■ China’s imaginary “nine-dash line” claims as much as 90% of the South China Sea. ■ Philippines earlier initiated arbitral proceedings against China in the Permanent Court of Arbitration which ruled “nine-dash line” were inconsistent with the United Nations Convention on the Law of the Sea (UNCLOS). But China rejected the arbitral tribunal ruling.

(a) ■ Public debt is the total liabilities of the central government contracted against the Consolidated Fund of India. ■ It is further classified into internal & external debt. ■ In 2021, debt to GDP ratio was 84% (including states debt). ■ NK Singh Committee on FRBM had envisaged a debt-to-GDP ratio of 40 % for the central government and 20 % for states aiming for a total of 60 % general government debt-to-GDP. ■ Reasons for high Public debt: 1 . Fiscal stimuli to support their economies during the pandemic (spending on infrastructure, welfare programs). 2 . Increased the costs of servicing interest debt. ■ Implications: Limits fiscal resources for meeting emerging priorities, like climate change adaptation, green transition etc. High interest payments account for 5% of GDP (in India), roughly twice the emerging market and developing-country average. Leads to Crowding out effect, reduction in private investment spending due to increased interest rates.

(d) Common methods for tax evasion: Misreporting Income,Storing Funds outside countries, using shell companies,falsification of financial statements, etc.