UPSC Prelims 2025 GS Paper I: answer key and question paper

Answer: (b) Only two

Under the SEBI (Alternative Investment Funds) Regulations, 2012, an AIF is a privately pooled investment vehicle that collects money from sophisticated investors and invests it under a defined policy. Venture capital funds are placed in Category I and hedge funds in Category III, so items IV and II are AIFs. Bonds and stocks (I and III) are ordinary securities that an AIF, a mutual fund or any investor may buy; they are not pooled funds themselves and are governed by the regular securities and debt-market framework. Hence only two of the four are AIFs.

Answer: (c) I and III only

Under Article 123, an Ordinance promulgated by the President has the same force and effect as an Act of Parliament, so it can amend or even repeal a Central Act — Statement I is correct. Article 13(3)(a) includes an ordinance within the meaning of 'law', so an ordinance that takes away or abridges a Fundamental Right is void to that extent — Statement II is incorrect. Because an ordinance carries the same legislative competence as a parliamentary law, it may be given retrospective effect, i.e., made operative from an earlier date — Statement III is correct. Hence I and III only.

Answer: (c) I, II and III

All three statements are correct. I: Direct Air Capture extracts CO₂ directly from ambient air; when this CO₂ is stored permanently in deep geological formations, carbon is removed from the atmosphere, so DAC serves as a carbon removal and sequestration route. II: captured CO₂ can also be used as a feedstock, for example to make chemicals and polymers (plastics) and in food and beverage processing, such as carbonation. III: in aviation, air-captured CO₂ can be combined with hydrogen, ideally produced from renewable power, to synthesise hydrocarbon fuels; the IEA identifies such synthetic fuels as a significant low-carbon option for aircraft.