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Prime Minister Modi is set to interact with Chief Ministers to review national preparedness and plans concerning the West Asia conflict.
India currently possesses 60 days of crude oil stocks and one month of LPG supplies.
Nayara Energy has recently increased petrol prices by ₹5 per litre and diesel prices by ₹3 per litre.
The discussions aim to strategize responses to potential geopolitical and economic impacts.
West Asia conflict, global energy markets, international relations, trade routes.
Inflation, crude oil prices, fiscal policy, monetary policy, balance of payments, logistics costs.
Strategic Petroleum Reserves (SPR), diversification of energy sources, renewable energy transition.
Centre-state cooperation in crisis management, disaster preparedness, national response coordination.
Strategic Petroleum Reserves are government-maintained stockpiles of crude oil intended to provide an emergency supply in times of global supply disruptions, geopolitical crises, or significant price volatility. India has established SPR facilities to enhance its energy security and mitigate the impact of external shocks on its economy. These reserves act as a buffer against unforeseen supply shortages.
Simple Analogy: Think of SPRs as a nation's emergency fuel tank, kept full to ensure essential services and economic activity can continue even if regular fuel supplies are interrupted.
GS-II (Federalism, Centre-State relations), GS-III (Indian Economy, Energy Security, Infrastructure, Disaster Management), International Relations.
General Awareness, Indian Economy, Current Affairs.
Economy, Current Affairs, General Awareness.
General Awareness, Indian Economy.
Geopolitics, National Security, Energy Security.
Local self-government can be best explained as an exercise in
Answer: Democratic decentralisation
We adopted parliamentary democracy based on the British model, but how does our model differ from that model? 1. As regards legislation, the British Parliament is supreme or sovereign but in India, the power of the Parliament to legislate is limited. 2. In India, matters related to the constitutionality of the Amendment of an Act of the Parliament are referred to the Constitution Bench by the Supreme Court. Select the correct answer using the code given below.
Answer: Both 1 and 2
Constitutional government means
Answer: a government limited by the terms of the Constitution
High (Energy security, geopolitics, and inflation are recurring themes in competitive exams).
Emergency crude oil stockpiles maintained by the government for energy security.
The uninterrupted availability of energy sources at an affordable price.
The influence of geographical factors on international relations and power dynamics.
A general increase in prices and fall in the purchasing value of money.