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[BATCH 4] Baba’s GURUKUL FOUNDATION for Freshers’– UPSC/IAS 2023 – Above & Beyond Regular Coaching! – New Batch Starts 15th October!

From the ancient times we have had the tradition of imparting knowledge directly from a Guru to Shishya. The process of this direct dissipation of information from the source not only built knowledge base but also helped in building a strong character’ in the students. THE MECHANISM WAS CALLED ‘GURUKUL’ Where students were like the family of a Guru.  But with the present education system, students have become more distant from the teachers. There is a strong dis-connect! This lack of connection between the teachers and the students and fear of asking questions has not helped much in the process of learning as it should have actually happened. Considering the impact and efficiency of the age-old practice, we decided to revive the good old structure of Gurukul with modern changes to continue the Guru – Shishya Parampara. So, what made this Gurukul unique? It was the special bond that the Guru and Shishya used to share with each other. The affection of the Guru for his pupil and the respect of the Shishya for his teacher made learning a pure and immersive process. The stories of teachers like Vishvamitra, Sandinapani and Drona and the anecdotes about the brilliance of students like Ram, Krishna and Arjun are an integral part of our life journey. Isn’t it? We wondered if the parampara could be revived! Yes, it could! With this intent we started the Gurukul program two years back at IASbaba. When we started this initiative, we were very sure that the process will be liked by the students and most importantly it will become the most result-oriented program in the history of UPSC/IAS coaching. The result of the first batch exceeded our own expectations! 3 Ranks out of 50 Students, 40% Success rate in Prelims, 33% Success rate in Mains. Yes! We are in the process of making your UPSC journey a more intimate one. We are going to redefine the relationship between the teacher and the students to ensure that the UPSC aspirants get an opportunity to prepare in a highly focussed environment, under the close guidance of a Guru. Although it would be unfair to expect the same level of dedication and discipline in today’s modern times, in terms of its overall essence and objectives, we can always make an honest attempt to create a milieu where the benefits of Guru-Shishya parampara can be reaped in a modern avatar.Click Here To Read Complete Details

DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 27th September 2022

Archives (PRELIMS & MAINS Focus) NavIC, India’s home-grown alternative to the GPS navigation system Open in new window Syllabus Prelims – Science and Technology Context: The Indian government asked the smartphone makers to enable support for its NavIC navigation system in new devices sold in the country from next year. Global standards body 3GPP has approved India’s regional NavIC: Earlier, Global standards body 3GPP, which develops protocols for mobile telephony, approved India’s regional navigation system NavIC, developed by Indian Space Research Organisation (ISRO). The specification approval will boost commercial use of NaVIC (Navigation with Indian Constellation) by international and domestic mobile device makers, which means such manufacturers can now mass-produce navigation devices compatible with NaVIC so that users of these devices can easily access desi GPS or NaVIC signals. The implications of NavIC acceptance by 3GPP would bring NavIC technology to the commercial market for its use in 4G, 5G and Internet of Things (IoT). Indian companies and startups will have an opportunity to design integrated circuits (ICs) and products based on NavIC What is 3GPP: It comprises seven telecommunications standard development organisations (ARIB, ATIS, CCSA, ETSI, TSDSI, TTA, TTC) from across the world and provides their members with a stable environment to produce specifications that define 3GPP technologies. 3GPP currently has global navigation satellite system support from BDS (Chinese), Galileo (European), GLONASS (Russian) & GPS (US) for cellular positioning system. About NavIC: The Indian Regional Navigation Satellite System, with an operational name of NavIC, is an autonomous regional satellite navigation system that provides accurate real-time positioning and timing services. It covers India and a region extending 1,500 km around it, with plans for further extension NavIC, or Navigation with Indian Constellation, is an independent stand-alone navigation satellite system developed by the Indian Space Research Organisation (ISRO). It became operational in 2018. Three satellites in geostationary orbit and five satellites in geosynchronous orbit. Currently one at stand by. Currently, NavIC’s use is limited. It is being used in public vehicle tracking in India, for providing emergency warning alerts to fishermen venturing into the deep sea where there is no terrestrial network connectivity, and for tracking and providing information related to natural disasters. Enabling it in smartphones is the next step India is pushing for. At full functioning , IRNSS will provide two types of services, namely, Standard Positioning Service (SPS) which is provided to all the users and Restricted Service (RS), which is an encrypted service provided only to the authorised users. The IRNSS System is expected to provide a position accuracy of better than 20 m in the primary service area. Applications of IRNSS: Terrestrial, Aerial and Marine Navigation Disaster Management Vehicle tracking and fleet management Integration with mobile phones Precise Timing Mapping and Geodetic data capture Terrestrial navigation aid for hikers and travellers Visual and voice navigation for drivers Source: Indian Express   Previous Year Question Q.1) With reference to the Indian Regional Navigation Satellite System (IRNSS), consider the following statements : IRNSS has three satellites in geostationary and four satellites in geosynchronous orbits. IRNSS covers entire India and about 5500 sq. km beyond its borders. India will have its own satellite navigation system with full global coverage by the middle of 2019. Which of the statements given above is/are correct? (2018) 1 only 1 and 2 only 2 and 3 only None Q.2) In which of the following areas can GPS technology be used? (2018) Mobile phone operations Banking operations Controlling the power grids Select the correct answer using the code given below: 1 only 2 and 3 only 1 and 3 only 1, 2 and 3 National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) Open in new window Syllabus Prelims – Economy Context: Continuing its slide against the dollar, the rupee ended at a new low recently due to risk-off sentiment among investors following an aggressive rate hike announcement by the US Federal Reserve. The weakness in the rupee also affected sentiment of equity market investors, as the benchmark Sensex at the BSE tanked 953 points, or 1.6 per cent, to close at 57,145.22. The broader Nifty at NSE lost 311 points, or 1.8 per cent, to end at 17,016. About National Stock Exchange (NSE): It was incorporated in 1992, become recognized as a stock exchange in 1993, and trading began on it in 1994. It was the first stock exchange on which trading took place electronically. In the year 1995-96, NSE launched NIFTY 50 Index and commenced trading and settlement in dematerialised securities. About Bombay Stock Exchange (BSE): BSE is the oldest stock exchange in Asia established in 1875. In 1986, Sensex was introduced, as the first equity index to provide a base for identifying the top 30 trading companies of the exchange. It ranks amongst the top 10 most valued exchanges globally. It offers trading in equities, derivatives, and Commodities. Current Stock Exchanges in India: After the country gained independence, 23 stock exchanges were added apart from the BSE However, at present, there are only seven recognized stock exchanges, along with BSE & NSE as follows: Calcutta Stock Exchange Ltd. The Calcutta Stock Exchange began operations in 1908 and began trading shares of plantations and jute mills Magadh Stock Exchange Ltd Metropolitan Stock Exchange of India Ltd Opened in January 2017, India INX is India’s first international stock exchange It is also a subsidiary of BSE and is located at the International Financial Services Centre (IFSC), GIFT City in Gujarat Currently, INX offers only derivative products including equity, currency and commodities derivatives and debt instruments including masala bond and foreign currency bond India International Exchange (India INX) Opened in January 2017, India INX is India’s first international stock exchange It is also a subsidiary of BSE and is located at the International Financial Services Centre (IFSC), GIFT City in Gujarat Currently, INX offers only derivative products including equity, currency and commodities derivatives and debt instruments including masala bond and foreign currency bond NSE IFSC Ltd NSE IFSC Limited (NSE International Exchange) incorporated on 29th November 2016, is a wholly owned subsidiary of the National Stock Exchange (NSE) and is located at the International Financial Services Centre (IFSC), GIFT City in Gujarat. Products offerings are similar to India INX. Importance of Stock Exchanges: Determining the fair price: The stock exchanges facilitate in discovering fair prices of the publicly listed securities. Relentless trading of securities helps in determining the price of the listed securities. Facilitating industrial advancement: The industrialisation of a nation is reliant on capital availability. This is ensured by the stock exchanges as the public can invest directly in the companies through stock exchanges. Protecting investors’ interest: The stock exchanges lay down guidelines for the operation of the listed entities. These norms have to be strictly followed by the companies, thereby protecting investors’ interest as they would have financed the operations. Act as secondary markets: Stock exchanges will help investors of certain bonds, such as sovereign gold bonds (SGBs), to sell their holdings within the lock-in period or maturity. Reduce the dependency on loan for corporates: The existence of stock exchanges has helped listed companies avoid availing a loan as they could raise capital by issuing securities. This has helped them save a significant amount in the form of regular interest outgo. Source: Indian Express                  Q.1) Convertible Bonds, consider the following statements: As there is an option to exchange the bond for equity, Convertible Bonds pay a lower rate of interest. The option to convert to equity affords the bondholder a degree of indexation to rising consumer prices. Which of the statements given above is/are correct? (2022) 1 only 2 only Both 1 and 2 Neither 1 nor 2 Operation Meth Chakra Open in new window Syllabus Prelims – Social Issues Context: The Central Bureau of Investigation (CBI) conducted searches as part of a pan-India drive against the circulation and sharing of child sexual abuse material. The operation was code-named “Megh Chakra”. About Operation Megh Chakra: Operation Megh Chakra is one of the CBI-led global operations in recent times for rapid response to online child sexual exploitation cases with international linkages and organized cyber enabled financial crimes. It is aimed at identifying and acting against the individuals and gangs involved in circulating child sexual abuse material and blackmailing minors. The operation is targeted at cloud storage — therefore the codename ‘Megha Chakra’ — used by peddlers to circulate audio-visual material on illicit sexual activities with minors. It sought to collate information from various law enforcement agencies within India, engage with relevant law enforcement agencies globally and coordinate closely through INTERPOL (International Criminal Police Organization) channels to combat online child sexual exploitation and such organized cyber-criminal activities. Coordination meetings were organised with INTERPOL and foreign law enforcement agencies for sharing critical information to dismantle such cybercrime networks. Source: The Hindu               The Breakthrough Agenda Report 2022 Open in new window Syllabus Prelims – Environment In News: The first annual Breakthrough Agenda Report, delivers a progress report on the actions needed to deliver on the historic clean technology commitment by governments. The report puts forward 25 recommendations for leaders to discuss at the Global Clean Energy Action Forum and the 13th Clean Energy Ministerial to be held in Pittsburgh, the US. About the report: The Breakthrough Agenda Report 2022 is a new report by the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA) and the UN Climate Change High-Level Champions. The report represents two-thirds of the global economy. Objective: It aims at supporting stronger international collaboration to amplify ambition, accelerate progress and drive faster reductions in global greenhouse gas (GHG) emissions. To align countries’ actions and coordinate investment to scale up deployment and drive do down costs across five key sectors — power, road transport, steel, hydrogen and agriculture Together, these sectors account for nearly 60% of global greenhouse gas (GHG) emissions and could deliver the bulk of emissions reductions needed by 2030 in a pathway that would make a significant contribution to limiting global warming to a maximum of 1.5 degrees Celsius, in line with the Paris Agreement goals. Findings: The report notes an increase in practical international cooperation in recent years such as doubling of EV sales, increase in global renewable capacity of eight per cent in 2022 — pushing through the 300GW mark for the first time. The report also warns that far greater international cooperation is needed to get the world on track to meet its climate commitment. About IEA: It was established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the 1973 oil crisis. IEA is an autonomous intergovernmental organisation. Its mission is guided by four main areas of focus: energy security, economic development, environmental awareness, and engagement worldwide. Headquarters: Paris, France. Roles and functions: to help its members respond to major oil supply disruptions, a role it continues to fulfil today tracking and analysing global key energy trends, promoting sound energy policy, fostering multinational energy technology cooperation. Composition: It has 30 members at present. IEA family also includes eight association countries. A candidate country must be a member country of the OECD. But all OECD members are not IEA members. Three countries are seeking accession to full membership: Chile, Israel, and Lithuania. Reports by IEA: Global Energy & CO2 Status Report. World Energy Outlook. World Energy Statistics. World Energy Balances. Energy Technology Perspectives. Source: Economic Times                       Previous Year Question Q.1) In the Indian context, what is the implication of ratifying the ‘Additional Protocol’ with the ‘International Atomic Energy Agency (IAEA)’? (2018) The civil nuclear reactors come under IAEA safeguards The military nuclear installations come under inspection of IAEA The country will have the privileged to buy uranium from the Nuclear Suppliers Group (NSG) The country automatically becomes a member of the NSG. Asian Palm Oil Alliance (APOA) Open in new window Syllabus Prelims – Current Affairs In news: APOA held its first general body meeting on the side-lines of the 25th Globoil Summit being held in India. The next meeting of APOA is expected to be held in Indonesia early next year. About: It is an edible oil trade association formed of five palm oil importing countries in South Asia – India, Pakistan, Sri Lanka, Bangladesh, and Nepal Objective: To gain collective bargaining power, to make imports sustainable and to safeguard the economic and business interests of the palm oil consuming countries The alliance would work towards ensuring that palm oil is recognised as a high-quality, economical, and healthy vegetable oil and to change the negative image of palm oil. The association is not involved in shaping the global discourse on sustainable palm oil in a collective way. The membership of APOA would be further expanded to include companies or industry bodies associated with production or refining of palm oil across the continent About Palm Oil imports: India’s annual imports of edible oil is around 13-14 million tonnes (MT). Around 8 MT of palm oil is imported from Indonesia and Malaysia, while other oils, such as soya and sunflower, come from Argentina, Brazil, Ukraine, and Russia. Asia accounts for around 40% of the global palm oil consumption while Europe accounts for 12% of palm oil trade. Indonesia and Malaysia are the biggest palm oil exporters in the world. India is the largest importer of palm oil in Asia (15% of global imports), followed by China (9%), Pakistan (4%) and Bangladesh (2%). About Oil Palm: It is a humid tropical crop and thrives best in temperature ranging from 22 °C to 24 °C. They require at least 5-6 hours of bright sunshine per day and 80% of humidity for optimum growth. Palm oil is a very productive crop. It offers a far greater yield at a lower cost of production than other vegetable oils. It produces high-quality oil used primarily for cooking in developing countries. It is also used in food products, detergents, cosmetics and, to a small extent, biofuel. Many packaged products contain palm oil—such as in lipstick, soaps, detergents and even ice cream. Source:  Financial Express RH-200 sounding rocket Open in new window Syllabus Prelims – Science & Technology In News: The Indian Space Research Organisation (ISRO) hopes to achieve a remarkable feat — the 200th successful launch of the Rohini RH-200 sounding rocket in a row. It has completed 198 consecutive successful flights and the 199th and 200th launch are planned to take place during 2022. ISRO has launched more than 1,600 RH-200 rockets so far. The 100th consecutive successful mission happened in 2015. About the rocket: Sounding rockets are one or two stage solid propellant rockets used for probing the upper atmospheric regions and for space research developed the ISRO. RH-200 is a 3.5-metre-tall two-stage rocket capable of climbing to a height of 70 km bearing scientific payloads. The first and second stages of RH-200 are powered by solid motors. The ‘200’ in the name denotes the diameter of the rocket in mm. Other operational Rohini variants are RH-300 Mk-II and RH-560 Mk-III. The first RH-200 to use a new propellant based on hydroxyl-terminated Polybutadiene (HTPB) was successfully flown in 2020, while the previous versions had used a polyvinyl chloride (PVC)-based propellant. About sounding rockets: Sounding rockets have been used for a variety of experiments, including those on phenomena related to eclipses. The first sounding rocket was the American Nike-Apache – launched in 1963. The ISRO launched its own version – Rohini RH-75 – in 1967. The sounding rocket programme was the bedrock on which the edifice of launch vehicle technology was built. Today, these small rockets are launched both from the Thumba Equatorial Rocket Launching Station (TERLS) and the Satish Dhawan Space Centre, Sriharikota. Source:     The Hindu Previous Year Question Q.1) What is ‘Greased Lightning-10 (GL-10)’, recently in the news? (2016) Electric plane tested by NASA Solar-powered two-seater aircraft designed by Japan Space observatory launched by China Reusable rocket designed by ISRO Sittanavasal Jain Heritage Site Open in new window Syllabus Prelims – Art & Architecture In News: With three-fourth of the art in the Sittanavasal rock cave temple in Pudukottai district of Tamil Nadu either damaged or vandalised, Archaeological Survey of India has undertaken conservation measures and also introduced digital checks to track public access. Periodic maintenance in the form of conservation (for structural repairs) and chemical preservation (for the restoration of paintings) of the monument is being undertaken. About the caves: Sittanavasal Cave (also, Arivar Koil) is a 2nd-century Tamil Śramaṇa complex of caves in Sittanavasal village in Pudukottai district of Tamil Nadu. Sittanavasal is the name used synonymously for the hamlet and the hillock that houses the Arivar Kovil i.e., temple of Arihats – Jains who conquered their senses, ‘Ezhadipattam’ (a cavern with 17 polished rock beds), megalithic burial sites and the Navachunai tarn (small mountain lake) with a submerged shrine. This is the only place in Tamil Nadu where one can see Pandya paintings. The site and art were first mentioned by local historian S. Radhakrishnan Iyer in his 1916 book General History of Pudukottai State. About the artwork:                         The artwork on the ceiling of the sanctum and the ardha mandapam of Arivar Kovil is an early example of post-Ajanta cave paintings of the fourth to sixth centuries, done using the fresco-secco technique (a process that dispenses with preparation of the wall with wet plaster). The ceiling paintings show ‘bhavyas’ (exalted souls who work to achieve moksha or spiritual liberation) enjoying themselves in a pool, full of blooming lotuses. Faint outlines linger of dancing girls on the ‘ardha mandapam’ pillars. The pillars of the verandah (added by the Maharaja of Pudukottai at the instance of then Diwan Alexander Tottenham in the 1900s), were brought from Kudumiyanmalai. The colours are a mixture of plant dyes and mineral elements such as lime, lamp black, and clay pigments such as ochre for yellow and terre verte for the greyish-green tints. The design elements hint at its possible earlier existence as a Saivite shrine. Inscriptions in Brahmi and ‘vattaezhuthu’, from the third century AD are present here. Early Tamil inscriptions from the ninth century AD of the Jain monk Ilan-Gautaman, are inside the complex. Of the 20 cave temples in Pudukottai district, 19 belong to Saivite and Vaishnavite streams of Hinduism; Sittanavasal is the only Jain temple with sculptures. Concerns: Unrestricted public access and general exposure to the elements have led to a gradual fading away of these paintings. Some inscriptions have been vandalised beyond recognition Small heaps of litter can be seen throughout the compound. Groups of monkeys run free amid visitors, looking for scraps of food. Measures: ASI has put in digital checks by introducing electronic ticketing to track visitor numbers. To increase the number of security guards Installation of closed-circuit TV cameras Programmes to create awareness about Sittanavasal among young people. Building of a centre to study Jainism’s influence in the region. Source: The Hindu                Previous Year Question Q.1) Which one of the following statements is correct? (2021): Ajanta Caves lie in the gorge of Waghora river Sanchi Stupa lies in the gorge of Chambal River. Pandu-Leni Cave shrines lie in the gorge of Narmada River. Amaravati Stupa lies in the gorge of Godavari River. Global Multilateral Institutions Open in new window Syllabus Mains: GS 2 (International Relations) In News: Indian External Affairs Minister S. Jaishankar’s visit to the United States (September 18-28) has set the stage for an expansive range of bilateral and multilateral diplomacy by India. It is a unique visit as it seeks to achieve a vast list of objectives led by the Indian delegation’s participation in the High-Level Week at the 77th Session of the United Nations General Assembly. The theme of the 77th General Assembly, which seeks “A watershed moment: Transformative Solutions to Interlocking Challenges”, places India right in the midst as a strong partner of the U.N. Context: India calls for a structural overhaul of UN-led multilateralism to incorporate institutional accountability and a wider representation of the developing countries. India searches for a new framework of global governance, amidst growing frustration with the extant multilateral order. It highlights needs of reforms in UNSC and the limitations of UN institutions and expresses concerns over Chinese dominance. Need for reforms in UNSC: United Nations Security Council should reform itself to become a more inclusive organisation representing the contemporary realities of today. Countries of the global South, including India, stepped up through relief efforts, drug distribution and vaccine manufacturing, thus creating a space for a more inclusive UN. The growing stakes of developing countries in the Security Council could foster trust and leadership across the world. Recent global developments like the COVID-19 pandemic highlighted the UN’s institutional limitations; when countries closed their borders, supply chains were interrupted and almost every country needed vaccines. The U.N.’s fault lines in preventing wars: U.N.-led multilateralism has been unable to provide strong mechanisms to prevent wars. The ongoing Russia-Ukraine war has loomed large over several deadlocks in U.N.S.C. resolutions – With the West boycotting Russia, the veto provision of the U.N.S.C. is expected to reach an even more redundant level than in the past. As such, a reformed multilateralism with greater representation could generate deeper regional stakes to prevent wars. Concern over China’s dominance: China’s rise, belligerence, and aggression has been on display through its actions China has been stonewalling India’s bid for Permanent Seat In UNSC for years, pointing to the lack of consensus even though the other four permanent members, the US, the UK, France and Russia have expressed backing for New Delhi’s membership. China blocked a joint India-U.S. proposal at the U.N. to enlist Sajid Mir, a top Lashkar-e-Taiba (LeT) operative involved in directing the 2008 Mumbai attacks, as a ‘global terrorist’. Control over multilateral organisations—unofficial pressure China exerted on the former U.N.’s human rights chief to stop the release of a report by the N. Human Rights Council on the condition of Uyghurs in China. Conflicts in South China Sea and the Indo-Pacific region China’s growing dominance could lead it to carve its own multilateral matrix circumventing the West, economically and strategically. The international isolation of Russia and Iran as well as increasing the United States’ Taiwan-related steps could usher in these changes more rapidly than expected. India’s multilateral diplomacy: Mr. Jaishankar’s hosting of a ministerial meeting of the G4 (Brazil, India, Germany, and Japan) A high-level meeting of the Indian delegation with the L.69 Group, on “Reinvigorating Multilateralism and Achieving Comprehensive Reform of the U.N. Security Council”. India-CARICOM (Caribbean Community) and other trilateral formats, such as India-France-Australia, India-France-the United Arab Emirates and India-Indonesia-Australia. Participation in plurilateral meetings of the Quad (Australia, India, Japan, the U.S.), IBSA (India, Brazil, and South Africa), BRICS (Brazil, Russia, India, China, and South Africa) and Presidency Pro Tempore CELAC (Community of Latin American and the Caribbean States) About The United Nations Security Council (UNSC): It is one of the six principal organs of the United Nations It is charged with ensuring international peace and security, recommending the admission of new UN members to the General Assembly, and approving any changes to the UN Charter. Its powers include establishing peacekeeping operations, enacting international sanctions, and authorizing military action. The UNSC is the only UN body with the authority to issue binding resolutions on member states. It was created after World War II in 1946 to address the failings of the League of Nations in maintaining world peace. The Security Council consists of fifteen members including India, of which five are permanent: China, France, Russia, the United Kingdom, and the United States. Permanent members can veto (block) any substantive Security Council resolution Criticism of UNSC Unlike the General Assembly which truly represents the interests of all the member states, the Security Council represents the interest and domination of only the five permanent members which includes China, France, Russia, the United Kingdom, and the United States of America. The veto power has been misused by the five permanent members – For passing any resolution, the approval of all the five permanent members is necessary and even if one of the members says no the resolution cannot be passed. India and UN Security Council India was offered seat at UNSC in 1950. The 1955 offer was made by USSR to India for a permanent seat in the UN (at a time when the USSR and China’s alliance had reached a certain height). India has basically followed two strategies for the expansion of the Security Council. “The first focuses on a narrow major-power claim, which emphasizes India’s capabilities and contributions to the UNSC as the basis for permanent membership”. The second approach basically focuses on the “problem of representation in the UNSC” and makes the case for expanding both permanent and non-permanent categories of membership. India is also seen as a proliferating nuclear power. Analysts believe that this is the single most factor that is being a roadblock for India’s UNSC dreams Way forward: UN could integrate burden-sharing practices within its institutional ambit. At a challenging time for the world order, New Delhi continues to affirm its commitment to “diplomacy and the need for international cooperation” Source:  Indian Express                       India – Russia Relations Open in new window Syllabus Prelims – International relations Mains – GS 2 (International Relations) Context: On the side-lines of  Shanghai Cooperation Organization summit, the Prime Minister of India and the President of Russia discussed about defence cooperation amid the ongoing Russia – Ukraine war. Let us discuss the Bilateral Relations between the two countries Historical relationship: During that, Russia has mentioned the support of the Soviet Union for India’s sovereignty over the disputed territories of Kashmir and Portuguese coastal enclaves such as Goa. Even after the abrogation of Article 370 Russia still supports India’s claim over Kashmir. The USSR agreed to transfer technology to co-produce the Mikoyan-Gurevich MiG-21 jet fighter in India in 1962. But the USSR rejected a similar move to China. India signed the Indo-Soviet Treaty of Friendship and Cooperation in 1971 during the Bangladesh liberation war. Political Relations: The Annual Summit meeting between the Prime Minister of India and the President of the Russian Federation is the highest institutionalised dialogue mechanism in the strategic partnership between India and Russia. As of 2020, 20 Annual Summit meetings have taken place alternatively in India and Russia. In 2019, President Putin signed the Executive Order on awarding PM of India with Russia’s highest state decoration – The order of St Andrew the Apostle. Two Inter-Governmental Commissions – one on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), and another on Military-Technical Cooperation (IRIGC- MTC), meet annually. Defence and Security Relations India-Russia military-technical cooperation has evolved from a buyer-seller framework to one involving joint research, development and production of advanced defence technologies and systems Joint Tri-Services Exercise ‘INDRA 2019’ between India and Russia was carried out simultaneously in Babina, Pune, and Goa in 2019. The joint military programmes between India and Russia include: BrahMos cruise missile programme 5th generation fighter jet programme Sukhoi Su-30MKI programme Ilyushin/HAL Tactical Transport Aircraft KA-226T twin-engine utility helicopters The military hardware purchased/leased by India from Russia includes: S-400 TRIUMF Kamov Ka-226 200 to be made in India under the Make in India initiative T-90S Bhishma INS Vikramaditya aircraft carrier programme S-400 air defence system Russia also plays a very important role in assisting the Indian Navy with its submarine programmes: Indian Navy’s first submarine, ‘Foxtrot Class’ came from Russia India is dependent on Russia for its nuclear submarine programme INS Vikramaditya, the sole aircraft carrier operated by India, is also Russian in origin Nine of the fourteen conventional submarines operated by India are Russian India Russia Trade Relations: The two countries intend to increase bilateral investment to US$50 billion and bilateral trade to US$30 billion by 2025 In 2019, total bilateral trade between the two countries from January-September, 2019 stood at USD 7.55 billion From 2013 to 2016 there was a major decline in the trade percentage between the two countries. However, it increased from 2017 onwards and a constant increase was noticed in 2018 and 2019 as well Cultural Relations: About 20 Russian Institutions, including leading universities and schools, regularly teach Hindi to about 1500 Russian students. Apart from Hindi, languages such as Tamil, Marathi, Gujarati, Bengali, Urdu, Sanskrit and Pali are taught in Russian Institutions. Indian dance, music, yoga, and Ayurveda are among few other interests that people of Russia enjoy. Why is Russia Important for India? Russia’s status in international sphere: Russia remains, and will remain a pre-eminent nuclear and energy power and a permanent member of the United Nations Security Council Multipolar World Politics: Since the world is becoming increasingly multipolar, maintaining close and strategic relations with Russia and the US at the same time is indispensable for India. Strong partnership with Russia provides India leverages to deal with other countries. Support for UNSC seat: Russia has stated publicly that it supports India receiving a permanent seat on the United Nations Security Council. Counterbalance to China Aggression: India has no option but to have a close relationship both with the US and Russia and to manage its difficult relationship with China. So long as Russia’s relationship with the West remains strained, Russia will look towards China. So long as Sino-Indian relations remain troubled, Russia’s going into the Chinese sphere of influence will not suit India. India’s energy security: Russia has huge reserves of oil. India to look towards Russia as an alternative source of energy supplies as the situation in the Middle East is escalating with threats to essential oil trade routes Challenges in India Russia Relationships: The rapid expansion of India-US relations: This is one of the most cited reasons for strain in India-Russia relations. The development of India US defence cooperation is rapid since 2008. In 2014 US emerged as the top arms supplier to India by overtaking Russia. Further, India also signed all the Foundational agreements with the US. Such as LEMOA, COMCASA, BECA. Due to these developments, Russia changed their decades-old policy and start supplying China with weapon systems like Sukhoi 35 and the S-400 missile defence system. Closer proximity of Russia towards China: Russia already proposed a Russia-India-China (RIC) forum of foreign ministers. But there is no major diplomatic success of RIC due to India’s unresolved issues with China. China-Russian ties are growing due to their shared interest in opposing the US. The intense geostrategic rivalry between China and the US in the region. Russia which opposes the US joined hands with China. This is evident as Russia joined the Chinese One Belt One Road initiative. Conclusion: India and Russia continue to share a common strategic rationale for their relationship: apart from bilateral synergies, the two are members of various multilateral organisations including BRICS, RIC, G20, East Asia Summit and SCO—where avenues for cooperation on issues of mutual importance exist. On the whole, Both India and Russia will have to learn to navigate their relationship amidst challenges emerging not just from bilateral factors but also regional and global ones, as both countries seek to strengthen their position at a time of flux in the international order. Source:  Indian Express             Dharamshala Declaration Open in new window Syllabus Prelims – Economy and Environment Mains – GS 3 (Economy and Environment) Context: Recently a gathering of State Tourism Ministers to discuss on modes and mechanisms to develop tourism in India, came up with ‘The Dharamshala Declaration’ (2022). It draws inspiration from central government’s ‘Whole of Government’ approach, which enables the breaking down of silos and encouraging synergies across various government corridors. About Dharamshala Declaration: On the occasion of World Tourism Day (September 27), Dharamshala Declaration aims to recognise India’s role in contributing towards global tourism as well as focusing on recovery by also promoting domestic tourism — which has been overlooked for long. In the declaration, the Tourism Ministry has come up with a strategy and action plan to encourage more Indians to travel domestically and explore India’s natural, cultural, and spiritual beauty while simultaneously reaching the goal of an ‘Ek Bharat Shrestha Bharat’ (interaction and mutual understanding). The ‘Ek Bharat Shrestha Bharat’ scheme was launched to celebrate the cultural vibrancy of India while establishing a strong mechanism to inculcate nationalism and cultural awareness among the citizens of our nation. In parallel, the Ministry has also been working with the Ministry of External Affairs to identify 20 Indian missions abroad with the highest tourist footfalls to India and build country-specific strategies to attract foreign tourists. Rethinking and reimagining tourism: Tourism has been one of the sectors severely affected by COVID-19. The Government of India’s Emergency Credit Line Guarantee Scheme (ECLGS) was recently enhanced to ₹5 lakh crore to benefit enterprises in hospitality and related sectors such as hotels and restaurants, marriage halls, travel agents, tour operators, adventure, and heritage facilities. The pandemic has also given us the time to reset and rethink the way forward for tourism in India. The Ministry of Tourism, after wide-ranging consultations, has prepared a draft National Tourism Policy 2022, which aims at improving the framework conditions for tourism development in the country, supporting tourism industries, strengthening tourism support functions, and developing tourism sub-sectors. The guiding principles include promoting sustainable, responsible, and inclusive tourism in line with our civilisational ethos. From Gautama to Gandhi, India has always spoken about the inherent need to live harmoniously with nature and within our means. The National Green Tourism Mission aims at institutionalising this approach. The National Tourism policy also aims to give impetus to digitalisation, innovation and technology through the National Digital Tourism Mission and skilling through the Tourism and Hospitality Sector Skill Mission. The policy also gives a special impetus to private sector participation through public-private-partnerships (PPP). Various other schemes involving PPP mode development will also compliment tourism sector, like the National Investment Pipeline (NIP) and the National Monetisation Pipeline (NMP). Important features of draft National Tourism Policy 2022: To promote investment in the tourism sector, industry status is proposed to be granted to the sector, along with formally granting infrastructure status to hotels. It identifies 5 key areas to be given significant focus in the next 10 years — green tourism, digital tourism, destination management, skilling the hospitality sector and supporting tourism-related to MSMEs. Relief Measures and Taxation Breaks for the contact-sensitive industry, which has been the worst sufferer over the last two years of the COVID-19 pandemic, Other framework conditions to help the sector, especially in the wake of the pandemic. The overall mission and vision are being laid out to improve the experience of tourists, foreign as well as local. Potential during the G20 presidency: The country has an opportunity to position itself as a major tourism destination during India’s presidency of the G20 (2023). India welcomes delegates from the 20 countries/European Union, including personnel from the central banks and finance ministries ranging from anti-corruption and agriculture to health, culture and tourism and foreign ministers, and other ministerial meetings. Even as the final list of cities is being finalised based on a set of transparent criteria such as conference infrastructure, accommodation availability, rankings in Swachh Bharat and other parameters, close to 35 cities with this potential have already been identified. During this time, the plan is to ensure due rigour, dedication and showcase the country’s cultural richness while welcoming the world to India. The Ministry of Tourism also plans to work with other Ministries to bring in necessary interventions such as visa reforms, ease of travel, traveller-friendly and improved immigration facilities at airports. Way forward: Over the past few months, all the major tourism indices such as domestic air passenger traffic, hotel occupancy and tourist footfalls have shown signs of recovery and are going back to pre-pandemic levels. By mid-2024, we would be at pre-pandemic levels, with India achieving $150 billion as GDP contribution from tourism and $30 billion in foreign exchange earnings with 15 million foreign tourist arrivals. By 2030, India is estimated to grow at 7%-9% compounded annual growth rate and we expect the enabling policy framework to bring in $250 billion in GDP contribution from tourism, 140 million jobs in the tourism sector. India’s age-old dictum of ‘Atithi Devo Bhava’ will come to the fore as it welcomes tourists across the world under a new age tourism policy. Source: The Hindu                    Baba’s Explainer -A Push for Semiconductor Industry A Push for Semiconductor Industry Syllabus GS-3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Context: Semiconductors are the new battleground in the field of high technology as nations race to establish a foothold in the manufacture of these vital components that power everything from traffic lights to advanced weaponry In a bid to make India’s $10 billion chip-making initiative more attractive to investors, the Centre on September 21, approved changes to the scheme for the development of a semiconductor and display manufacturing ecosystem. Read Complete Details on A Push for Semiconductor Industry Daily Practice MCQs Daily Practice MCQs Q.1) Which one of the following issues the ‘The Breakthrough Agenda Report 2022’ report periodically? International Atomic Energy Agency The World Bank International Energy Agency International Union for Conservation of Nature Q.2) Consider the following statements in respect of the Asian Palm Oil Alliance (APOA): It is an edible oil trade association formed of palm oil importing countries. It was formed in the year 2020. Which of the above statements is/are correct? 1 only 2 only Both 1 and 2 Neither 1 and 2 Q.3) In which of the following areas can GPS technology be used? Mobile phone operations Creating maps of the world Monitoring personal/Object movement Select the correct answer using the code given below: 1 and 3 only 2 and 3 only 1 and 2 only 1 2 and 3 Comment the answers to the above questions in the comment section below!! ANSWERS FOR ’27th September 2022 – Daily Practice MCQs’ will be updated along with tomorrow’s Daily Current Affairs. ANSWERS FOR 26th September – Daily Practice MCQs Answers- Daily Practice MCQs Q.1) – c Q.2) – a Q.3) – b table, td, th { border: 1px solid;} table {width: 100%; border-collapse: collapse; }

Baba’s Explainer

Baba's Explainer - A Push for Semiconductor Industry

ARCHIVES Syllabus GS-3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Context: Semiconductors are the new battleground in the field of high technology as nations race to establish a foothold in the manufacture of these vital components that power everything from traffic lights to advanced weaponry In a bid to make India’s $10 billion chip-making initiative more attractive to investors, the Centre on September 21, approved changes to the scheme for the development of a semiconductor and display manufacturing ecosystem. What are semiconductors? A semiconductor is a key component used in electronics that manages the flow of electric current in a device. The basic component of a semiconductor chip is a sliver of silicon, which is etched with billions of microscopic transistors, forming patterns to control the flow of current while following different computational instructions. These chips are used widely in electronic devices like cars, smartphones, healthcare equipment, aircraft and weaponry. These chips are manufactured through a complex process by chip fabrication plants, popularly known as fabs. There are various types of chips. More advanced semiconductors, like the 5 nanometre (nm) chip, are able to fit smaller transistors onto a silicon wafer and thus pack more processing power while using less electricity. These are typically used in cutting-edge technologies. Other chips, which have larger transistors, are said to be on the “lagging edge” and are used in consumer and everyday product. The other vital component of semi-conductor chips are Substrates connect chips to the circuit boards that hold them in personal computers and other devices. Made up of thin copper wire sandwiched in resin, substrates help transmit user instructions to a computer’s chips and relay the answers. They are necessary because the ultrathin wiring that comes out of chips can’t tolerate a direct soldered connection to a circuit board Substrate Manufacturing is therefore seen as a backwater of the global chip supply chain. Supplies of substrates is very tight and small disruption in this underinvested sector is causing big worries to chip manufacturers Why does India want to get into the semiconductor game? It is hard to point to a component that is more vital to the global economy. While India has notable strengths in designing chips, it does not manufacture semiconductors domestically and is largely import dependent. This became a problem during the pandemic where shortages in the supply of chips slowed down manufacturing for key industries like automotives. For example, carmakers in India alone had 7 lakh pending orders in December 2021 because of an inability to get their hands on the appropriate semiconductors. Further, the ongoing tensions over the Taiwan straits have worried India. Taiwanese firms like TSMC control over 60% of the market for semiconductor manufacturing and hold an overwhelming 90% market share for advanced chips. With China looming over Taiwan, it has become increasingly clear that India’s 100% import dependence when it comes to chips is no longer sustainable How big is the semiconductor industry? The global semiconductor industry is currently valued at $500-$600 billion. The chip-making process is complex and highly exact, having multiple other steps in the supply chain such as designing software for chips and patenting them through core Intellectual Property (IP) rights. It also involves making chip-fabrication machines; setting up fabs or factories; and ATMP (assembly, testing, marking and packaging). The chip-making industry is a highly-concentrated one, with the big players being Taiwan, South Korea and the U.S. among others. In fact, according to a New York Times estimate, 90% of 5nm (nanometre) chips are mass-produced in Taiwan, by the Taiwan Semiconductor Manufacturing Company (TSMC). Therefore, the global chip shortage, U.S.-China tensions over Taiwan, and the supply chain blockages owing to the Russia-Ukraine conflict have led major economies to enter the chip-making sector with a renewed push. For example, the U.S. announcement of $52.7 billion in government funding for the CHIPS and Science Act and the EU’s Chips Act that will mobilise €43 billion for public and private investments. What has India done so far? India unveiled a 76,000 crore ($10 billion) Production Linked Incentive (PLI) scheme to attract major semiconductor manufacturing firms to India. As part of the scheme, the government will fund 50% of the project cost for the manufacture of all types of semiconductors domestically. It also announced fiscal support for a design-linked initiative (DLI) scheme to drive global and domestic investment related to design software, IP rights etc. In recent months, Vedanta and Taiwanese manufacturing giant Foxconn signed an MoU with the state government in Gujarat to invest ₹1,54,000 crore to set up a plant in the state. Two other projects have also been announced — a $3 billion plant in Karnataka by the International consortium ISMC and a $3.5 billion plant in Tamil Nadu by Singapore’s IGSS Ventures Major firms like TSMC and UMC have also visited India to scout out possible locations for investments. Tata has also made forays into the semiconductor supply chain. It has invested in building a presence in the chip packaging and testing business while Tata Motors has tied up with a Japanese chip manufacturer to design and produce automotive chips. What are the changes to India’s chip-making scheme? In December 2021, India announced its roughly $10 billion dollar production-linked incentive (PLI) scheme to encourage semiconductor and display manufacturing in the country. According to the Electronics and IT Ministry, semiconductor demand in India would increase to $70-$80 billion by 2026 with the growing demand for digital devices and electronic products. The new changes announced recently seek to harmonise government incentives for all technology nodes of semiconductors. In the previous version of the scheme, the Centre was offering to fund 30% of the project cost for 45nm to 65nm chip production, 40% for 28nm to 45nm, and 50% or half of the funding for chips 28nm or below. The modified scheme provides uniform 50% fiscal support for all nodes. Besides, it will provide 50% of capital expenditure for other steps of the process as well (chip design and ATMP). The modified scheme also emphasised the production of the 45nm chip, which is fairly less time-consuming and economical in terms of production. What are the challenges? Avoid Repetition of Previous Mistakes: This is not India’s first attempt at building a domestic manufacturing base for semiconductors. During the 1980’s India stole a march on Taiwan’s firms by setting up a state-owned semiconductor factory. This ambitious attempt came to a halt after the factory caught fire. Later attempts stalled due to bureaucratic inertia. This is an error India will be keen to avoid this time around. Inadequate Funding: While the scheme is an encouraging move, chip production is a resource-intensive and expensive process. Notably, just the setting up of one semiconductor fab requires an investment of anywhere between $3 and $7 billion. While the new scheme provides equal funding for all steps of the process, the outlay of the scheme remains $10 billion Prioritising Multiple Focus Areas: Analysts, while positive, are concerned that not much of the current scheme outlay would be left to support other elements including display fabs, packaging and testing facilities, and chip design centres. They also argue that the initial funding should focus on areas like design and R&D, for which India already has an established talent pool. Huge Requirement of Water: Chip-making also requires gallons of ultrapure water in a single day, which could be a task for the government to provide to factories, compounded also by the drought conditions which often prevail in large parts of the country. Need for constant innovation: Further, the Indian government and private industry will have to commit billions of dollars in investments over decades to constantly innovate in a rapidly evolving industry. Dependency on Subsidies: Another task for the government is to drive up consumer demand in the semiconductor and linked electronics industry to not end up in a situation where these ventures remain successful only till taxpayers are forced to fund required subsidies. Main Practice Question: Having made significant strides in digital technology, the time has come for India to become a reliable global source for semiconductor chips as well. Discuss. Note: Write answers to this question in the comment section. table{ border: 1px solid; } table tr, table td{ border: 1px solid; }

Daily Prelims CA Quiz

UPSC Quiz – 2022 : IASbaba’s Daily Current Affairs Quiz 27th September 2022

For Previous Daily Quiz (ARCHIVES) – CLICK HERE The Current Affairs questions are based on sources like ‘The Hindu’, ‘Indian Express’ and ‘PIB’, which are very important sources for UPSC Prelims Exam. The questions are focused on both the concepts and facts. The topics covered here are generally different from what is being covered under ‘Daily Current Affairs/Daily News Analysis (DNA) and Daily Static Quiz’ to avoid duplication. The questions would be published from Monday to Saturday before 2 PM. One should not spend more than 10 minutes on this initiative. Gear up and Make the Best Use of this initiative. Do remember that, “the difference between Ordinary and EXTRA-Ordinary is PRACTICE!!” Important Note: Don’t forget to post your marks in the comment section. Also, let us know if you enjoyed today’s test 🙂After completing the 5 questions, click on ‘View Questions’ to check your score, time taken, and solutions.To take the Test Click Here

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[2 DAYS TO GO] REGISTER NOW for Baba’s GURUKUL ADVANCED for Veterans’ ENTRANCE TEST

GURUKUL ADVANCED FOR VETERANS 'A Rigorous, Intensive Tests & Mentorship Based Programme' The Registrations for Baba’s GURUKUL ADVANCED 2022 Entrance Test which is scheduled for 28th September, will close on 27th September (6 PM). Hurry Up and Register Now! REGISTER NOW! - CLICK HERE Only a limited number of students who are highly dedicated will be selected through multiple rounds of scrutiny. Seats are limited as one on one mentorship is possible only with a limited number of students. The selection process will be similar to UPSC standards, comprising of Prelims Test (50 MCQs – 100 marks; Syllabus will include current affairs of last one year and static GS topics + Objective CSAT questions), Mains Test – 150 marks (it will include an essay based on Current Issues and case studies of Ethics to check the approach of candidates) and Personality Test (it will be conducted to check the dedication of candidates and their level of understanding of Current Issues). Date of Entrance Test - 28th September (Wednesday) at 11 AM. Last Date to Register - 27th September (6 PM) Mode of Test - ONLINE only. Timings – 11:00 am (2 Hours and 30 Minutes) The results of the Entrance Test will be out on the 30th of September (Friday). Interviews will be starting on 1st October (Saturday) The final results will be out on 4th October (Tuesday) The login credentials for the Entrance Test will be shared with registered students on 27th September by 10 PM. KNOW MORE ABOUT BABA's GURUKUL ADVANCED 2022 - CLICK HERE CONTACT US You can call us on 91691 91888 or mail us at support@iasbaba.com Or visit our centres: Delhi: Plot 22-B, 3rd floor, Pusa Road, Bada Bazar Marg, Rajinder Nagar, New Delhi- 110060 Landmark: Above Dominos Bengaluru: IASbaba Headquarters (HQ) – 2nd floor, Ganapathi Circle, 80 Feet Rd, Chandra Layout, Bengaluru. Lucknow: B-1/66, Sector J, Aliganj, Lucknow – 226024 Landmark: Near Mr Brown / Opp to Sahu Studio  

DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 26th September 2022

Archives (PRELIMS & MAINS Focus) Elephant Conservation Open in new window Syllabus Prelims – Environment Context: Tamil Nadu Forest officials learn the ‘language of elephants’, thanks to calf rescue missions. Over the last one year, the department has successfully reunited three elephant calves that got separated from their herds in Nilgiris district of Tamil Nadu. Asian Elephants and African Elephants: About African Elephants: African Savanna (or bush) elephant IUCN Red List: Endangered African Forest Elephants IUCN Red List: Critically Endangered Note: Previously, IUCN listed both African elephants as “vulnerable”. But now it has opted to list them separately. It is after genetic evidence has proved that both are different species. Habitat: The distribution of African elephants is throughout the savannas of sub-Saharan Africa and the rainforests of Central and West Africa. African Savanna (or bush) elephant: They are larger animals that roam the plains of sub-Saharan Africa. African Forest Elephants: They are smaller animals that live in the forests of Central and West Africa. Characteristics: African elephants are the largest land animals on Earth. They are slightly larger than Asian Elephants and can be identified by their larger ears. (Asian elephants have smaller, rounded ears) Elephants are matriarchal. It means they live in female-led groups. The matriarch is usually the biggest and oldest. Keystone Species: African elephants are keystone species, i.e., they play a critical role in their ecosystem. They are also known as “ecosystem engineers” as they shape their habitat in many ways. About Asian Elephants: The Asian elephant is the largest land mammal on the Asian continent. They inhabit dry to wet forest and grassland habitats in 13 range countries spanning South and Southeast Asia. IUCN Red List: Endangered CITES: Appendix I. Wildlife (Protection) Act, 1972: Schedule I. Elephant Reserves in India: The Indian elephant Elephas maximus occurs in the central and southern Western Ghats, North-east India, eastern India, and northern India and in some parts of southern peninsular India. It occurs in 16 of the 28 states in the country and is showing an increasing trend across its distributional range. Its population in 2007 was estimated to be in the range from 27,657 to 27,682, whereas in 2012 the population was estimated to be between 27,785 and 31,368. Karnataka has highest elephant population followed by Kerala, according to recent report of MoEF&CC. PROJECT ELEPHANT : was launched by the Government of India in the year 1992 as a Centrally Sponsored Scheme with following objectives: To protect elephants, their habitat & corridors To address issues of man-animal conflict Welfare of captive elephants The Project is being mainly implemented in 16 States / UTs , viz. Andhra Pradesh, Arunachal Pradesh, Assam, Chhattisgarh, Jharkhand, Karnataka, Kerala, Maharashtra, Meghalaya, Nagaland, Orissa, Tamil Nadu, Tripura, Uttarakhand, Uttar Pradesh, West Bengal. The Ministry of Environment, Forest and Climate Change provides the financial and technical support to major elephant range states in the country through Project Elephant. Source: The Hindu                  Previous Year Questions Q.1) With reference to Indian laws about wildlife protection, consider the following statements : Wild animals are the sole property of the government. When a wild animal is declared protected, such animal is entitled for equal protection whether it is found in protected areas or outside. Apprehension of a protected wild animal becoming a danger to human life is sufficient ground for its capture or killing. Which of the statements given above is/are correct? (2022) 1 and 2 2 only 1 and 3 3 only Q.2) With reference to Indian elephants, consider the following statements: The leader of an elephant group is a female The maximum gestation period can be 22 months An elephant can normally go on calving till the age of 40 years only Among the States in India, the highest elephant population is in Kerala Which of the statements given above is/are correct?  (2020) 1 and 2 only 2 and 4 only 3 only 1, 3 and 4 only Q.3) Consider the following statements: Asiatic lion is naturally found in India only Double-humped camel is naturally found in India only One-horned rhinoceros is naturally found in India only Which of the statements given above is/are correct? (2020) 1 only 2 only 1 and 3 only 1, 2 and 3 Ambedkar Tourist Circuit Open in new window Syllabus Prelims: Modern India In News: The Central government has announced a special tourist circuit encompassing five key sites associated with Dr. B.R. Ambedkar The Five Key Sites – The “Panchateerths” Mhow: His Birthplace Nagpur: Where he studied London: Where he resided and studied Delhi: Where he breathed his last Mumbai: Where he was cremated Other sites of relevance Raigarh, Maharashtra: Where Dr. Ambedkar led the Mahad Satyagraha, one of the greatest incidents of expression of freedom for Dalits On March 20, 1927 To allow untouchables to use water in a public tank in Mahad Pune, Maharashtra: Where he held the first negotiations with Mahatma Gandhi in Yerwada jail On a separate electorate for depressed classes in the legislature of British India in 1932. The result was the Poona Pact signed by Dr. Ambedkar on behalf of the depressed classes and by Madan Mohan Malviya on behalf of upper caste Hindus. Kolhapur, Maharashtra: In March 1920, another legendary social reformer, Chatrapati Shahuji Maharaj, declared Dr. Ambedkar as the true leader of the oppressed classes in India. March 2020 marked the centenary year of this event. Sri Lanka: Where he attended a Buddhist conclave that is said to have influenced him to convert to Buddhism. MUST READ: Bharat Ratna Dr. B.R. Ambedkar-The man and His Vision Source: The Hindu                        Status of Cannabis Open in new window Syllabus GS Prelims and GS-II – Health In News: In September last year, the World Anti-Doping Agency (WADA) said it was reviewing the status of cannabis, which is prohibited in competition. This followed the positive test of USA’s sprinting star Sha ‘Carri Richardson during the US Olympic Track and Field trials in June. She was banned and missed the Olympics. However, recently WADA said the recreational drug would remain on its list. Cannabis and Marijuana Cannabis is sourced from the cannabis sativa plant. There are over 500 chemical substances in the plant but the one on Wada’s prohibited list is tetrahydrocannabinol (THC). THC gives users of marijuana a high. So, cannabis in Wada’s books is marijuana, the chemical in which is THC. The Ban of Cannabis Cannabis is banned only in-competition. This means that an athlete faces a risk of getting banned only for a positive test from a sample collected during a competition. For example, an athlete can smoke marijuana in the off-season and test positive but is unlikely to be banned. From 2021 onwards, a positive test for cannabis can result in as short a ban as one month, according to Wada. For a reduced ban; down from two to four years earlier, athletes must prove that the use of cannabis was before entering a competition, which means the athlete did not intend to experience its effects while competing. Review by WADA Code Under the Wada code, cannabis is defined as a ‘substance of abuse’. Wada says the current limit of 150 nanograms per millilitre in urine will be found in athletes who are frequent users and are impaired because of the effects of cannabis. The threshold limit in 2013 was just 15 ng/ml. Potential to enhance performance, health risk to athletes and the spirit of the sport are the criteria these experts looked at. A substance needs to meet two of these three criteria to be included in the prohibited list. Wada says that use of cannabis violates the spirit of the sport but didn’t specify which of the other two criteria the recreational drug met. Is cannabis performance enhancing in sports? Cannabis is known to delay fatigue, mask pain and improve concentration but at the same time can increase heartbeat which is not good Cannabis, like all drugs, has its pros and cons but it is still unclear if it can help an athlete. There are studies that show it can reduce motor movement. Evidence of an increasing number of runners using cannabis during training was documented in the book Runners’ High by Josiah Hesse. A research paper titled ‘Cannabis in sport, anti-doping perspective’ says There are benefits for athletes such as ‘improved oxygenation to tissues, improvement of vision for goalkeepers, and muscle relaxation. Cannabis can also reduce anxiety, fear, and tension. Athletes under the influence of cannabis indicate that their thoughts flow more easily and their decision-making and creativity is enhanced; others claim that cannabis improves their concentration or reduces pain. Health professionals have encountered athletes including gymnasts, divers, football players and basketball players who claim smoking cannabis before play helps them to focus better. World Anti-Doping Agency (WADA)  A foundation initiated by the International Olympic Committee based in Canada to promote, coordinate, and monitor the fight against drugs in sports. \ Set up on 10 November 1999 in Lausanne, Switzerland, as a result of what was called the “Declaration of Lausanne” Headquarters: In Montreal, Quebec, Canada. The agency’s key activities include scientific research, education, development of anti-doping capacities, and monitoring of the World Anti-Doping Code, whose provisions are enforced by the UNESCO International Convention Against Doping in Sport. It delegates work in individual countries to Regional and National Anti-Doping Organizations (RADOs and NADOs) and mandates that these organisations are compliant with the World Anti-Doping Code. Source:  Indian Express            FSSAI releases draft notification on star rating for packaged food Open in new window Syllabus Prelims – Current Affairs In News: The Food Safety and Standards Authority of India has issued a draft notification on front-of-package labelling, which proposes “Indian Nutrition Rating” (INR) modelled on the health star-rating system. Requires packaged food to display the prescribed format of INR by assigning a rating from 1/2 star (least healthy) to five stars (healthiest). The INR is to be calculated on the basis of the contribution of energy, saturated fat, total sugar, sodium, and the positive nutrients per 100 gm of solid food or 100 ml of liquid food. The star assigned to a product “shall be displayed close in proximity to the name or brand name of the product on front of pack,” says the draft notification. Certain food products such as milk and milk-based products, egg-based desserts, infant formula, salads and sandwich spreads and alcoholic beverages have been exempted. Public health experts have been opposed to the health-star rating system According to them, it gives a “health halo” because of its positive connotation making it harder to identify harmful products. They instead recommend warning labels such as an octagonal “stop” symbol which global studies have shown is the only format that has led to a positive impact on food and beverage purchases forcing the industry For example, in Chile, to reformulate their products and remove major amounts of sugar and salt. About Food Safety and Standards Authority of India It is an autonomous statutory body established under the Food Safety and Standards Act, 2006 (FSS Act). The Act aims to establish a single reference point for all matters relating to food safety and standards, by moving from multi- level, multi-departmental control to a single line of command. Ministry: Ministry of Health & Family Welfare. It comprises a chairperson and twenty-two members out of which one – third are to be women. The Chairperson of FSSAI is appointed by the Central Government. The primary responsibility for enforcement is largely with the State Food Safety Commissioners Source:  The Hindu                  Flex Fuel Technology Open in new window Syllabus Prelims – Science & Technology In News: India’s first ‘flex fuel’ car, a Toyota sedan has been developed as part of a new pilot. The nationwide pilot has been initiated as part of a government-led push to car – makers for adopting alternative fuels and to replicate the commercial deployment of this particular technology in other markets such as Brazil, Canada, and the US. There are over 21 million flex fuel vehicles in the United States Brazil is the leader in this segment. The Mechanics of Flex Fuel Technology: A flex fuel, or flexible fuel, vehicle has an internal combustion engine (ICE), but unlike a regular petrol or diesel vehicle, this can run on more than one type of fuel, or even a mixture of fuels. The ICE can use a blend of petrol and ethanol or methanol and can also run on 100 per cent petrol or ethanol as well. This is made possible by equipping the engine with a fuel mix sensor and an engine control module (ECM) programming that senses and automatically adjusts for any ratio of designated fuels. Flex fuel vehicles have one fuel system, and most components are the same as those found in a conventional petrol-only car. Modifications such as special ethanol-compatible components are required to adjust to the different chemical properties and energy content in ethanol or methanol. The ECM is also calibrated to accommodate the higher oxygen content of ethanol.   Significance: The use of ethanol blending sharply lowers harmful pollutants such as carbon monoxide, sulphur, and carbon and nitrogen oxides. It will deleverage the country’s dependence on oil imports for transportation Many flex fuel vehicles have improved acceleration performance when operating on higher ethanol blends. Concerns: It marginally decreases fuel efficiency when using ethanol for motive power. Over 90% of ethanol produced in the country, came from sugarcane alone and sugarcane production is usually very water-intensive. Further, since sugarcane is a politically important crop, there is a perceived political angle to the ethanol/methanol blending push. About ethanol production in India: Currently, around 9.5% ethanol blending with petrol has been achieved in fuel dispensed in pumps in most metros and it is likely that the targeted 10 per cent ethanol blending will be achieved by November 2022. But this is slated for a major bump up, with the government’s 2025 target of 20 per cent blending of ethanol in petrol envisaged in its National Biofuel Policy 2018. Source: The New Indian Express                Archaeological Survey of India Open in new window Syllabus Prelims – History and Art and Culture Context: Archeological Survey of India has discovered 12000-year-old artifacts at the Vadakkupattu village in Tamil Nadu. Key Findings: Mesolithic Period: ASI discovered hand axes, scrappers, cleavers, and choppers from the Mesolithic period. They were recovered 75 cm from beneath the surface. Sangam Era: They discovered Sangam era (almost 2,000 years ago) artefacts including rouletted pottery, Roman amphora sherds, and glass beads suggesting active commerce with Rome. Early and Later Pallavas: They discovered sculptures ranging from the early Pallava period (275 CE) to the late Pallavas on the floor inside the surrounding space (897 CE). Significance of the findings: With these discoveries, Vadakkupattu village site has now become a culturally and archaeologically important site. Archaeological Survey of India: The ASI is the premier organization for the archaeological researches and protection of the cultural heritage of the country. The prime objection of ASI is to maintain the archaeological sites, ancient monuments, and remains of national importance. Headquarters: New Delhi. Established: 1861 by Alexander Cunningham. It regulates all archaeological activities as per the provisions of the Ancient Monuments and Archaeological Sites and Remains Act, 1958. It functions under the aegis of the Union Ministry of Culture. It also regulates Antiquities and Art Treasure Act, 1972. Source: Times of India            Previous Year Questions Q.1) Who among the following rulers advised his subjects through this inscription? (2020) “Whosoever praises his religious sect or blames other sects out of excessive devotion to his own sect, with the view of glorifying his own sect, he rather injures his own sect very severely.” Ashoka Samudragupta Harshavardhana Krishnadeva Raya Q.2) Which one of the following is not a Harappan site? (2018) Chanhudaro Kot Diji Sohgaura Desalpur Dragonflies Open in new window Syllabus Prelims – Environment and Ecology Context: A survey of dragonflies and damselflies at Delhi’s biodiversity parks indicates that low rainfall this year may have impacted their life cycles and numbers. In a week-long survey that concluded recently, a total of 25 species of dragonflies and damselflies were recorded across the biodiversity parks and the Kamla Nehru Ridge. On August 18 every year, the World-Wide Fund for Nature (WWF-India) and the Bombay Natural History Society (BNHS) commemorates Dragonfly Day in New Delhi and its surrounding areas. What are Dragonflies? It is an aerial predator insect most commonly found near freshwater habitats throughout most of the world. Their distinctive colors make them look beautiful. This makes them valuable subjects for research on insect behavior, both for ecology and art. Habitat: Most species of dragonflies live in the tropics and particularly in the rainforests. Significance: Dragonflies are important to their environments both as predators (particularly of mosquitos) and as prey to birds and fish. Because these insects require stable oxygen levels and clean water, scientists consider them reliable bioindicators of the health of an ecosystem. Dragonflies are essential bio-indicators of an area’s ecological health. Because they eat mosquitoes and other insects that transmit life-threatening diseases like Malaria and Dengue Fever. Threats: The rapid destruction of their habitat poses a direct threat to their survival making their conservation urgent. Key Findings of the survey: The Kamla Nehru Ridge recorded the maximum number of species – 25. The Yamuna Biodiversity Park recorded 23 species, a little less than the 25 species recorded in 2018. In terms of the number of individuals recorded, the Kalindi Biodiversity Park recorded the highest number at 3,348, followed by the Aravalli Biodiversity Park where 555 individuals were counted. The Neela Hauz biodiversity park also recorded a fewer number of species this year – just six – as compared to 2018, when nine species were counted. Species that were recorded include the Scarlet Skimmer, Picture Wing dragonfly and the Granite Ghost along with dragons mentioned below.(in pictures) Recent other discoveries of Dragonflies: Recently, Dragonfly enthusiasts have recorded the presence of a rare dragonfly species named “Spiny Horntail” that was not seen in Kerala until now. The Western Ghats are home to this species, which was discovered in Maharashtra earlier this year. Golden dartlet                                                                                                        Ditch jewel Pied paddy skimmer                                                   Spiny horntail Source: Indian Express                        Previous Year Questions Q.1) Which of the following is not a bird? (2022) Golden Mahseer Indian Nightjar Spoonbill White Ibis Q.2) Certain species of which one of the following organisms are well known as cultivators of fungi? (2022) Ant Cockroach Crab Spider Q.3) Which one of the following is a filter feeder? (2021) Catfish Octopus Oyster Pelican Banking System Liquidity Open in new window Syllabus Prelims – Economy Mains – GS 3 (Economy) Context: Recently, For the first time since May 2019, the banking system liquidity situation turned into a deficit mode in September, 2022, by comparison, the liquidity surplus was to the tune of Rs 8 lakh crore in November 2021. As the Reserve Bank of India (RBI) was providing liquidity support to the economy, which was dealing with the after-effects of the Covid pandemic. In this context let us know about Banking system liquidity: What is banking system liquidity? Liquidity in the banking system refers to readily available cash that banks need to meet short-term business and financial needs. On a given day, if the banking system is a net borrower from the RBI under Liquidity Adjustment Facility (LAF), the system liquidity can be said to be in deficit and if the banking system is a net lender to the RBI, the system liquidity can be said to be in surplus. The LAF refers to the RBI’s operations through which it injects or absorbs liquidity into or from the banking system. What has triggered present banking liquidity deficit? Economists say that there are various factors over the last few months that have led to the current situation. If an improvement in demand for credit has led to the same, the recent advance tax outflow has further aggravated the situation. Besides, there is the continuous intervention of the RBI to counter the fall in the rupee against the US dollar. As per the, chief economist, India Ratings. “The deficit in the liquidity situation has been caused by an uptick in the bank credit, advance tax payments by corporates, intervention of the RBI into the forex market, and also incremental deposit growth not keeping pace with credit demand.” Latest data by RBI: The outstanding bank credit stood at Rs 124.58 lakh crore in August 26, 2022 and has increased by 4.77% (Rs 5.7 lakh crore) from Rs 118.9 lakh crore in March 25, 2022. However, deposit growth was just 3.21% (Rs 5.3 lakh crore) at Rs 169.94 lakh crore in August 26, 2022, from Rs 164.65 lakh crore in March 25, 2022. How can a tight liquidity condition impact consumer? A tight liquidity condition could lead to a rise in the government securities yields and subsequently lead to a rise in interest rates for consumers too. The 10-year government bond yield increased to 7.23% on September 21, 2022, from 7.18% on August 20, 2022. Short-term rates would increase at a faster pace as the direct reflection of tighter liquidity and RBI’s rate hike would be on these papers. Expected rise in repo rate: A rise in the repo rate will lead to a higher cost of funds. Banks will increase their repo-linked lending rates and the marginal cost of funds-based lending rate (MCLR), to which all loans are linked to. This rise will result in higher interest rates for consumers. What can RBI do to deal with this situation? As per the Economist, RBI’s actions will depend upon the nature of the liquidity situation. If the current liquidity deficit situation is temporary and is largely on account of advance tax flow, the RBI may not have to act, as the funds should eventually come back into the system. However, if it is long-term in nature then the RBI may have to take measures to improve the liquidity situation in the system. Way Forward: Slow deposit growth could constrain robust credit growth. Banks need to increase deposit rates to incentivize greater deposit mobilization. Many banks have started special deposit schemes over the past month, offering more than 6 per cent interest on fixed deposits. RBI will have to infuse liquidity through different tools to ensure a steady flow of credit. Going forward, the rise in inflation and interest rates could also pose a threat to credit growth. MUST READ: RBI’s monetary policy  Source:   Indian Express                        G4 Countries and UNSC Reforms Open in new window Syllabus Prelims – international groupings Mains – GS 2 (International Relations) Context: Reform of the United Nations has been a central theme of External Affairs Minister visit to the United Nations and he also met with his counterparts from Germany, Brazil and Japan under The Group of Four (G4). The group is primarily focused on U.N. Security Council (UNSC) reform, and permanent membership of the body for G4 members, among others. In this regard, let us discuss what is G4 grouping and why they aim for urgent need of UN Reforms. About G4 Countries: The G4 nations comprising Brazil, Germany, India, and Japan are four countries which support each other’s bids for permanent seats on the United Nations Security Council. Basis for these demands: Each of these four countries have figured among the elected non-permanent members of the council since the UN’s establishment. Their economic and political influence has grown significantly in the last decades, reaching a scope comparable to the permanent members (P5). About Coffee Club/Uniting for Consensus: An informal “coffee club”, comprising 40-odd members states, has been instrumental in holding back reforms to the United Nations Security Council. Most members of the club are middle-sized states who oppose bigger regional powers grabbing permanent seats in the UN Security Council. The prime movers of the club include Italy, Spain, Australia, Canada, South Korea, Argentina, and Pakistan. While Italy and Spain are opposed to Germany’s bid for Security Council’s permanent membership, Pakistan is opposed to India’s bid. Similarly, Argentina is against Brazil’s bid and Australia opposes Japan’s. Canada and South Korea are opposed to developing countries, often dependent on their aid, wielding more power than them at the UN. Need for UN Reforms: Equitable world order – There is a need for a more equitable world order to uphold the principles of democracy at the global level. Inclusivity – Developing countries like the African countries, need to be made stakeholders in the multilateral institutions and involved in the decision-making process. Mitigation of new threats – In the era of corona pandemic, rising protectionism, increased incidents of terrorism and the threat of climate change, multilateral system must become more resilient and responsive. Desperate times call for desperate measures – There is already a precedent of expansion of G-20 in the face of 2008 Global Financial Crisis. Rules of Procedure of General Assembly – For e.g., the type of majority required to pass a resolution, requirement of approval of the United Nations Security Council etc. What reforms are required in the United Nations: Methods of working of General Assembly – For e.g., before a document is adopted, each document must be translated to six languages. After that, many times the discussion veers towards the accuracy of the 6 languages. This process has many times delayed the adoption of texts in the UN Membership of United Nations Security Council (UNSC), including the permanent membership and veto power – Since its inception, the UNSC has been enlarged only once. Even after that, the Permanent members of UNSC have remained fixed. This is problematic as the membership of UN has grown almost four times since its formation. Veto Power – veto power has been the exclusive domain of P5 members. Many countries have put question mark on the existence of veto, which is contrary to democratic principles. Others have questioned the exclusivity of veto, which is limited to the P5 nations, as stated earlier. Challenges to reforms and G4 demand: Making a change in UN is a laborious process as the rules of procedure lean towards rigidity Lack of Consensus – Although there is a general agreement towards change in the system, but different countries have different perceptions of the requirement for change. For e.g. – G-4 nations demand a seat each as a permanent member, UFC asks for expansion of non-permanent seats, African union wants its representation at any cost etc. Narrow political considerations – Countries view change in their own self-interest, rather than taking a wide world view. For e.g. – many countries would like an expansion in the non-permanent space, so that they have an increased chance of getting elected to the membership of UN. PGA’s (see inset) opposition to India’s demand – Yet another Challenge to India’s demand for recognition of India, specifically, and G-4, in general, as the permanent members of UNSC is the current PGA of UN. The current PGA belongs to Turkey and is not friendly to India’s demand. In fact, he is biased towards Pakistan-led Coffee Club, which seeks to limit expansion of permanent membership of UNSC Veto power of P5 – Support of all five permanent, veto-wielding members is required for expansion of UNSC. India must be cautious that it keeps on enjoying support from all P5 members, especially China, which so-far has been ambiguous towards India’s candidature as a permanent member of UNSC African position – India has been generally supportive of African position where it has demanded one seat for its nominee. The problem is that Africa wants to reserve the right to nominate the country by itself, rather than leaving it to the UN General Assembly. This is not acceptable to many members. Lack of Records – One major issue is the lack of records of ongoing negotiations. Every time the meeting starts, the negotiations must start from scratch, as no records are maintained of previous discussions. Way Forward: Diplomatic outreach – India along with G4 needs to build upon its strengths through a diplomatic outreach to the major nations with whom it has friendly relations. For e.g., India is the only nation whose candidature to United Nations Security Council (UNSC) is not opposed by any veto-wielding nation. Even China, with whom India has been engaged in a border standoff, has never publicly opposed India’s stance. India’s soft power – India has continuously supported Least Developing Countries (LDCs) of Africa and Small Island nations in their developmental efforts. This has led to development of India’s image as a benevolent and friendly country. Contributions to United Nations – India needs to keep an eye on China, which has now become the biggest contributor of funds to the United Nations. Also, China has now started sending troops to United Nations peace-keeping missions, with the agenda of rebuilding its global reputation Diversification – Apart from United Nations Security Council, India needs to diversify its energy towards other agencies like International Monetary Fund, World Trade Organisation, World Health Organisation, to create a perception where it is considered as a natural leader. For e.g. – Indian Prime Minister recently spoke at Economic Council (ECOSOC) to attach a sense of importance to the institution Debate on India’s strategy – Reforming some institutions might require sacrifice on India’s part, for which we should have a clearly outlined strategy. For e.g. – India has been a major beneficiary of World Bank loans. If we need a leadership position, we might need to give up on these loans. MUST READ: UNSC Sanctions            Source: The Hindu                    Baba’s Explainer -Inflation Targeting as Monetary Policy Inflation Targeting as Monetary Policy Syllabus GS-3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Context: When, in May 2016, India adopted inflation targeting as a policy goal enshrined in law, it also embraced the idea of central bank “independence with accountability”. Read Complete Details on Inflation Targeting as Monetary Policy Daily Practice MCQs Daily Practice MCQs Q.1) Which of the following is not a Dragonfly? Spiny horntail Golden dartlet Spoonbill Ditch jewel Q.2) Consider the following statements about the Flex-Fuel Vehicles: They can operate on a mixture of flex fuel. They have two separate fuel system to mix the fuel for combustion. Select the correct answer using the code given below: 1 only 2 only Both 1 and 2 Neither 1 nor 2 Q.3) Consider the following statements, with respect to Banking system liquidity: It refers to readily available cash that banks need to meet long-term business and financial needs Cash in banking system turns deficit for the first time in over three years. Which of the statements given above is/are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Comment the answers to the above questions in the comment section below!! ANSWERS FOR ’26th September 2022 – Daily Practice MCQs’ will be updated along with tomorrow’s Daily Current Affairs. ANSWERS FOR 24th September – Daily Practice MCQs Answers- Daily Practice MCQs Q.1) – d Q.2) – b Q.3) – c table, td, th { border: 1px solid;} table {width: 100%; border-collapse: collapse; }

Baba’s Explainer

Baba's Explainer - Inflation Targeting as Monetary Policy

ARCHIVES Syllabus GS-3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Context: When, in May 2016, India adopted inflation targeting as a policy goal enshrined in law, it also embraced the idea of central bank “independence with accountability”. What is inflation targeting mandate of RBI? In India, the Reserve Bank of India (RBI) had earlier pursued a ‘multiple indicators approach’, implying concern for outcomes other than inflation, including even the balance of payments. However, the Indian government instituted inflation targeting as the sole objective of monetary policy since 2016-17. Under the new statutory framework, the central government would, in consultation with the Reserve Bank of India (RBI), set an inflation target based on the consumer price index (CPI) once every five years. The Centre, under section 45ZA of the RBI Act, 1934, has fixed the CPI inflation target at 4% within a band of +/- 2 per cent. The RBI was entrusted with the responsibility of meeting this target (“accountability”), for which it would be given “independence” in the conduct of monetary policy. Therefore, Inflation targeting is a monetary policy framework in which a country’s central bank focuses solely on keeping inflation within a certain range. This was hailed by the government as the adoption of the ‘modern monetary policy framework’ by India. Why Inflation Targeting approach to Monetary Policy? Inflation targeting is founded on the assumption that preserving price stability, which is achieved by managing inflation, is the greatest way to generate long-term economic growth. Inflation targeting allows central banks to respond to shocks to the domestic economy and focus on domestic considerations. Stable inflation reduces investor uncertainty, allows investors to predict changes in interest rates, and anchors inflation expectations. A major advantage of inflation targeting is that it combines elements of both “rules” and “discretion” in monetary policy. This “constrained discretion” framework combines two distinct elements: a precise numerical target for inflation in the medium term a response to economic shocks in the short term. New Zealand was the first country to embrace inflation targeting, and since then, a large number of nations, including India, have chosen it as their primary monetary policy tool. In India, the Monetary Policy Framework Agreement agreed between the RBI and the government in 2015 established inflation targeting. The RBI is mandated to maintain a rate of inflation of 4% with a 2-percentage-point deviation, i.e. inflation must be kept between 2% and 6%. If consumer inflation is more than 6% or less than 2% for three consecutive quarters, the central bank will be considered to have missed its objective. What happens if RBI fails to meet its inflation target? If the central bank fails to meet its inflation target then: It will send a report to the government explaining why and what steps it will take to correct the problem. It will also have to provide an estimate of how long it will take to return to the target level. What are the benefits of Inflation Targeting? Autonomy with Accountability: The RBI has been given autonomy in managing the rate of inflation within the prescribed targets set by the government. If the RBI fails to keep inflation within the target range, it would be compelled to explain the reasons for its failure. Such a clause allows the RBI to have autonomy while also allowing the government to have greater accountability over the RBI’s actions. Greater clarity & Predictability: Inflation targeting specifies the rate of inflation that should be targeted in a given economy. With such publicly legislated aims, there is better clarity and predictability in terms of the inflation rate and monetary policy formulation. Promotes Growth: A high rate of inflation diminishes the buying power of the currency and eventually lowers the overall rate of GDP growth. Furthermore, a high rate of inflation is accompanied by larger levels of Fiscal and Current Account Deficits, putting the country’s macroeconomic stability at risk. As a result, a low or moderate amount of inflation would encourage investors to invest in the economy, promoting higher growth and development. International Best Practise: Inflation targeting has shown to be quite successful in certain advanced economies, such as the United Kingdom and New Zealand. These advanced economies have been able to keep inflation at a reasonable level for a longer period of time, resulting in enhanced macroeconomic stability. What are the concerns expressed with such monetary policy approach? Mixed Results During the Modi government’s first term, roughly from April 2014 to March 2019 (Modi 1.0), CPI inflation was above 6% only in 6 out of 60 months. Moreover, 5 of those 6 months were in 2014, well before the RBI Act was amended to provide a statutory basis for inflation targeting. One can say that the framework of inflation targeting and central bank “independence with accountability” worked well during Modi 1.0 However, actual year-on-year inflation in 2022 has ruled above 6% every single month from January to August. If it does so in September as well, the RBI, under section 45ZN of the same law, will have to submit a report to the Centre on “the reasons for failure to achieve the inflation target” and “remedial actions proposed to be taken by the Bank”. In the 41 months from April 2019, inflation has exceeded 6% in as many as 21. In other words, a failure rate of over 50% in Modi-II era. Things have been different in Modi 2.0. The last two years or less have seen a resurgence of inflation. Inefficiency of Monetary Policy tools There’s a simple reason for the RBI’s “failure” to adhere to its inflation-targeting mandate. It has to do with food and beverage items, which have a combined 45.86% weight in the overall CPI. Inflation led by rising prices of food stuff cannot quickly or easily be contained by the mode of control which RBI uses. During Modi 1.0 (2014-19), food inflation was lower than general inflation in 38 out of the 60 months. During Modi 2.0 (2019 onwards), the average CFPI inflation (Food Inflation) is at 6.3%, more than the 5.7% for general inflation. Also, the transmission of Monetary Policy Is Inadequate in India. Inflation targeting is better suited to mature economies since monetary policy transmission is more efficient in these countries. However, in India, the transmission of monetary policy is inefficient, which can impair the efficiency of inflation targeting. Monetary Dependence Monetary policy independence basically refers to the central bank being insulated from government interference or electoral pressure in setting its interest rates with a view to achieving low and stable inflation. The preponderant weight of food items in the Indian consumption basket is high as compared to that in developed countries and therefore, RBI is forced to rely more on government action to meet inflation targets. Far from acting independently, RBI has to depend on “supply-side” measures by the government to curb this food inflation. That translates into monetary dependence, not independence. To get an idea of the government’s supply-side actions that have made the RBI’s job easier, consider the following: In the last one year, the effective import duty on crude and refined palm oil has come down from 30.25% and 41.25% to 5.5% and 13.75%, respectively. It’s been even sharper — from 30.25% to nil — for crude soyabean and sunflower oil On May 13, 2022, the government banned exports of wheat. This was extended to wheat flour — including atta, maida and rava/ sooji (semolina) — on August 27, 2022. On September 8, exports of broken rice were prohibited. Besides, a 20% duty was imposed on shipments of all other non-parboiled non-basmati rice. In all the above instances the government is trying to increase the supply of food items in domestic market so as to ease the price rise Diverted Focus RBI’s responsibility to regulate the financial sector may have taken a back seat after adoption of inflation targeting as the main objective. Some of the crisis in financial sector which is partly attributed to short comings in regulations are: Within three years of adoption of inflation targeting as goal, a crisis engulfed IL&FS– It defaulted on several of its obligations, including repayment of bank loans and the redemption of commercial paper Punjab and Maharashtra Co-operative Bank- fictitious accounts created and deposits were siphoned off as loans to the promoters. At the global level, the 2008 Global Financial Crisis demonstrated that price stability alone does not guarantee financial stability and that a central bank’s excessive reliance on price stability may lead to the neglect of other critical functions such as regulation, resulting in an economic crisis. Former RBI Governor Subbarao has stated that there is a trade-off between pricing stability and financial stability and that the more successful a central bank is at maintaining price stability, the more likely it is to jeopardize financial stability. Disregards the RBI’s multifaceted role: It is impractical for a central bank in a developing country like India to focus just on inflation without considering the greater development context. The Reserve Bank of India (RBI) must strike a balance between growth, price stability, and financial stability. Main Practice Question: How far do you think Inflation targeting as an approach to monetary policy has yielded its intended results? Note: Write answers to this question in the comment section. table{ border: 1px solid; } table tr, table td{ border: 1px solid; }

Daily Prelims CA Quiz

UPSC Quiz – 2022 : IASbaba’s Daily Current Affairs Quiz 26th September 2022

For Previous Daily Quiz (ARCHIVES) – CLICK HERE The Current Affairs questions are based on sources like ‘The Hindu’, ‘Indian Express’ and ‘PIB’, which are very important sources for UPSC Prelims Exam. The questions are focused on both the concepts and facts. The topics covered here are generally different from what is being covered under ‘Daily Current Affairs/Daily News Analysis (DNA) and Daily Static Quiz’ to avoid duplication. The questions would be published from Monday to Saturday before 2 PM. One should not spend more than 10 minutes on this initiative. Gear up and Make the Best Use of this initiative. Do remember that, “the difference between Ordinary and EXTRA-Ordinary is PRACTICE!!” Important Note: Don’t forget to post your marks in the comment section. Also, let us know if you enjoyed today’s test 🙂After completing the 5 questions, click on ‘View Questions’ to check your score, time taken, and solutions.To take the Test Click Here

DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 24th September 2022

Archives (PRELIMS & MAINS Focus) Carbon Dating Open in new window Syllabus Prelims – Current Affairs In news: A Varanasi district court has issued notice regarding carbon-dating of the disputed structure known to have been found inside the premises of the Gyanvapi mosque. What is Carbon Dating? Carbon dating, also called radiocarbon dating is method of age determination that depends upon the decay to nitrogen of radiocarbon (Carbon-14). This method was developed by the American physicist Willard F. Libby about 1946. Carbon-14 is continually formed in nature by the interaction of neutrons with nitrogen-14 in the Earth’s atmosphere. The neutrons required for this reaction are produced by cosmic rays interacting with the atmosphere. How it works? Radiocarbon present in molecules of atmospheric carbon dioxide enters the biological carbon cycle: it is absorbed from the air by green plants and then passed on to animals through the food chain. Radiocarbon decays slowly in a living organism, and the amount lost is continually replenished as long as the organism takes in air or food. Once the organism dies, however, it ceases to absorb carbon-14, so that the amount of the radiocarbon in its tissues steadily decreases. The half-life concepts: Carbon-14 has a half-life of 5,730 ± 40 years—i.e., half the amount of the radioisotope present at any given time will undergo spontaneous disintegration during the succeeding 5,730 years. Because carbon-14 decays at this constant rate, an estimate of the date at which an organism died can be made by measuring the amount of its residual radiocarbon. Its uses: It has proved to be a versatile technique of dating fossils and archaeological specimens from 500 to 50,000 years old. The method is widely used by geologists, anthropologists, archaeologists, and investigators in related fields. Source: Indian Express The Kyrgyzstan-Tajikistan conflict Open in new window Syllabus Prelims – Current Affairs (Maps) Context: Nearly 100 people have been killed and scores injured in violent border clashes between Kyrgyzstan and Tajikistan. The borders of the two republics were demarcated under Joseph Stalin’s leadership. Historically, the Kyrgyz and Tajik populations enjoyed common rights over natural resources. Ferghana valley continues to be a site of struggle and frequent violent outbursts, with the location consisting primarily of Tajiks, Kyrgyz, and Uzbeks, who have historically shared common sociological specificities, economic activities, and religious practices. This ‘development project’ resulted in the large-scale displacement of nomadic communities, eventually contributing to the ‘environment driver’ of the current conflict. Source:   The Hindu             Previous Year Questions Q.1) Consider the following pairs: Region often mentioned in the news:   Country Anatolia                  Turkey Amhara                  Ethiopia Cabo Delgado       Spain Catalonia                Italy How many pairs given above are correctly matched? (2022) Only one pair Only two pairs Only three pairs All four pairs Q.2) Which one of the lakes of West Africa has become dry and turned into a desert? (2022) Lake Victoria Lake Faguibine Lake Oguta Lake Volta Q.3) The term “Levant” often heard in the news roughly corresponds to which of the following regions? (2022) Region along the eastern Mediterranean shores Region along North African shores stretching from Egypt to Morocco Region along Persian Gulf and Horn of Africa The entire coastal Mediterranean Sea of areas Q.4) Consider the following countries: Azerbaijan Kyrgyzstan Tajikistan Uzbekistan Turkmenistan Which of the above have borders with Afghanistan? (2022) 1, 2 and 5 only 1, 2, 3 and 4 only 3, 4 and 5 only 1, 2, 3, 4 and 5 BrahMos Missiles Open in new window Syllabus Prelims – Science and Technology Context: The Defence Ministry signed a ₹1,700-crore contract with BrahMos Aerospace Pvt Ltd for 35 combat and three practice BrahMos supersonic surface-to-surface cruise missiles for two P-15B class of stealth guided missile destroyers of the Indian Navy. About Brahmos: BrahMos is a joint venture between the DRDO and Russia’s NPO Mashinostroyeniya and the missile derives its name from Brahmaputra and Moskva rivers. On June 12, 2001, the BrahMos supersonic cruise missile was first tested from a land-based launcher in Chandipur. In the 21 years since, BrahMos has been upgraded several times, with versions tested on land, air, and sea platforms. Background and development: Since the early 1980s, the Integrated Guided Missile Development Programme, conceived and led by Dr A P J Abdul Kalam, started developing a range of missiles including Prithvi, Agni, Trishul, Akash and Nag. An Inter-Governmental Agreement was signed with Russia in Moscow in 1998 This led to the formation of BrahMos Aerospace, a joint venture between DRDO and NPO Mashinostroyenia (NPOM), the Indian side holding 50.5% and the Russians 49.5%. In 1999, work on development of missiles began in labs of DRDO and NPOM after BrahMos Aerospace received funds from the two governments. The first successful test in 2001 was conducted from a specially designed land-based launcher. Strategic significance: BrahMos is a two-stage missile with a solid propellant booster engine. Its first stage brings the missile to supersonic speed and then gets separated. The liquid ramjet or the second stage then takes the missile closer to three times the speed of sound in cruise phase. The missile has a very low radar signature, making it stealthy, and can achieve a variety of trajectories. The ‘fire and forget’ type missile can achieve a cruising altitude of 15 km and a terminal altitude as low as 10 m to hit the target. Cruise missiles such as BrahMos, called “standoff range weapons”, are fired from a range far enough to allow the attacker to evade defensive counter-fire. The BrahMos has three times the speed, 2.5 times flight range and higher range compared to subsonic cruise missiles. Versions deployed in all three-Armed forces are still being tested regularly: LAND-BASED: The land-based BrahMos complex has four to six mobile autonomous launchers, each with three missiles on board that can be fired almost simultaneously. Batteries of the land-based systems have been deployed along India’s land borders in various theatres. The upgraded land attack version, with capability of cruising at 2.8 Mach, can hit targets at a range up to 400 km with precision. Advanced versions of higher range and speed up to 5 Mach are said to be under development. The ground systems of BrahMos are described as ‘tidy’ as they have very few components. SHIP-BASED: The Navy began inducting BrahMos on its frontline warships from 2005. These have the capability to hit sea-based targets beyond the radar horizon. The Naval version has been successful in sea-to-sea and sea-to-land modes. The BrahMos can be launched as a single unit or in a salvo of up to eight missiles, separated by 2.5-second intervals. These can target a group of frigates with modern missile defence systems. AIR-LAUNCHED: On November 22, 2017, BrahMos was successfully flight-tested for the first time from a Sukhoi-30MKI against a sea-based target in the Bay of Bengal. BrahMos-equipped Sukhoi-30s, which have a range of 1,500 km at a stretch without mid-air refuelling, are considered key strategic deterrence for adversaries both along land borders and in the strategically important Indian Ocean Region. SUBMARINE-LAUNCHED: This version can be launched from around 50 m below the water surface. The canister-stored missile is launched vertically from the pressure hull of the submarine, and uses different settings for underwater and out-of-the-water flights. This version was successfully tested first in March 2013 from a submerged platform off the coast of Visakhapatnam. Source: Indian Express Previous Year Question Q.1) Which one of the following statements best reflects the idea behind the “Fractional Orbital Bombardment System” often talked about in media?  (2022) A hypersonic missile is launched into space to counter the asteroid approaching the Earth and explode it in space. A spacecraft lands on another planet after making several orbital motions. A missile is put into a stable orbit around the Earth and deorbits over a target on the Earth. A spacecraft moves along a comet with the same surface. speed and places a probe on its. Q.2) With reference to India’s satellite launch  vehicles, consider the following statements: PSLVs launch satellites useful for Earth resources monitoring whereas GSLVs are designed mainly to launch communication satellites. Satellites launched by PSLV appear to remain permanently fixed in the same position in the sky, as viewed from a particular location on Earth. GSLV Mk III is a four-staged launch vehicle with the first and third stages using solid rocket motors; and the second and fourth stages using liquid rocket engines. Which of the statements given above is/are correct.? (2018) 1 only 2 and 3 1 and 2 3 only Q.3) With reference to the Indian Regional Navigation Satellite System (IRNSS), consider the following statements : (2018) IRNSS has three satellites in geostationary and four satellites in geosynchronous orbits. IRNSS covers entire India and about 5500 sq. km beyond its borders. India will have its own satellite navigation system with full global coverage by the middle of 2019. Which of the statements given above is/are correct? 1 only 1 and 2 only 2 and 3 only None India Hypertension Control Initiative (IHCI) Open in new window Syllabus Prelims – Governance Context: Recently India won a United Nations (UN) award for its ‘India Hypertension Control Initiative (IHCI)’, a large-scale hypertension intervention under the National Health Mission that saw 3.4 million hypertensive people identified and put on treatment at various government health facilities. About IHCI: India Hypertension Control Initiative (IHCI) is a multi-partner initiative involving the Indian Council of Medical Research, WHO-India, Ministry of Health and Family Welfare, and State governments to improve blood pressure control for people with hypertension. The project initiated in 26 districts in 2018 has expanded to more than 100 districts by 2022. More than two million patients were started on treatment and tracked to see whether they achieved BP control. The project demonstrated that blood pressure treatment and control are feasible in primary care settings in diverse health systems across various States in India. Before IHCI, many patients travelled to higher-level facilities such as community health centres (block level) or district hospitals in the public sector for hypertension treatment. Over three years, all levels of health staff at the primary health centres and health wellness centres were trained to provide treatment and follow-up services for hypertension. About 2022 United Nations Inter-Agency Taskforce and the WHO Special Programme on Primary Health Care Awards: Eighteen organizations received the UN Inter-Agency Task Force on the Prevention and Control of Non-Communicable Diseases (NCDs) and the WHO Special Programme on Primary Health Care (PHC) awards. Awards were made in three categories: (i) ministries of health (or government agency under a ministry of health); (ii) ministries (or government agencies) beyond health; and (iii) non-state actors (non-governmental organization, academic institutions, and philanthropy). Winners were selected on the basis of demonstrative commitment to multisectoral action in the prevention and control of NCDs, mental health or other NCD-related SDGs. Nominations were specifically encouraged for organizations working with children and youth groups as well as those working with minority communities. Nominations were also encouraged that highlighted action maintaining focus on the NCD-related SDGs as part of COVID-19 responses. 2022 is the 1st year the awards were run in partnership with PHC however, the 5th year that the Task Force have ran awards. Self-nominations are not allowed. MUST READ: Non-Communicable Diseases            Source:   Hindustan Times                    Rabies control and Animal Welfare Open in new window Syllabus Prelims – Governance Context: Recently death of a 12-year-old girl in Pathanamthitta has sharpened the focus on the rising number of rabies cases and the growing population of stray dogs in Kerala. About Prevention of Cruelty to Animals Act, 1960: Seeks to “prevent the infliction of unnecessary pain or suffering on animals”. The Animal Welfare Board of India (AWBI) was established in 1962 under Section 4 of the Act. This Act provides for punishment for causing unnecessary cruelty and suffering to animals. The Act defines animals and different forms of animals. It provides the guidelines relating to experimentation on animals for scientific purposes. Prevention of Cruelty to Animals (Care and Maintenance of Case Property Animals) Rules, 2017: Framed under the Prevention of Cruelty to Animals Act, 1960. The Rules allow a Magistrate to forfeit the animal of an owner facing trial under the Act. The animals are then sent to infirmaries, animal shelters, etc. The authorities can further give such animals for “adoption”. About Animal Welfare Board of India: The Animal Welfare Board of India is a statutory advisory body on Animal Welfare Laws and promotes animal welfare in the country. Established in 1962 under Section 4 of the Prevention of Cruelty to Animals Act, 1960, the Animal Welfare Board of India was started under the stewardship of Late Smt. Rukmini Devi Arundale, well known humanitarian. From ensuring that animal welfare laws in the country are diligently followed, to provide grants to Animal Welfare Organizations and advising the Government of India on animal welfare issues, the Board has been the face of the animal welfare movement in the country for the last 50 years. The Board consists of 28 Members. The term of office of Members is for a period of 3 years. Headquaters at Chennai. MUST READ: Rabies Vaccine                Source: The Hindu                        Previous Year Question Q.1) What is the importance of using \ Pneumococcal Conjugate Vaccines in India? (2020) These vaccines are effective against pneumonia as well as meningitis and sepsis. Dependence on antibiotics that are not effective against drug-resistant bacteria can be reduced. These vaccines have no side effects and cause no allergic reactions. Select the correct answer using the code given below: 1 only 1 and 2 only 3 only 1, 2 and 3 Rupee Depreciation Open in new window Syllabus Prelims – Indian Economy, Interest rate, IMF etc Mains – GS 3 (Fiscal policy, Monetary policy, Impact of free fall of the rupee) Context: There has been a consistent deterioration of Indian Rupee’s (INR) exchange rate with respect to the US Dollar ($) over the last few month. It breached the psychologically significant exchange rate level. The fall in Rupee has been going on since the war in Ukraine began, and crude oil prices started going up. What is Depreciation? Currency depreciation is a fall in the value of a currency in a floating exchange rate system. For example: USD 1 used to equal to Rs. 70, now USD 1 is equal to Rs. 77, implying that the rupee has depreciated relative to the dollar i.e., it takes more rupees to purchase a dollar. Impact of Depreciation of Indian Rupee: Depreciation in rupee is a double-edged sword for the Reserve Bank of India. Positive: Weaker rupee should theoretically give a boost to India’s exports, but in an environment of uncertainty and weak global demand, a fall in the external value of rupee may not translate into higher exports. Negative: It poses risk of imported inflation, and may make it difficult for the central bank to maintain interest rates at a record low for longer. India meets more than two-thirds of its domestic oil requirements through imports. India is also one of the top importers of edible oils. A weaker currency will further What determines the rupee’s value? The value of any currency is determined by demand for the currency as well as its supply. When the supply of a currency increases, its value drops. In the wider economy, central banks determine the supply of currencies, while the demand for currencies depends on the amount of goods and services produced in the economy. In the forex market, the supply of rupee is determined by the demand for imports and various foreign assets. So, if there is high demand to import oil, it can lead to an increase in the supply of rupees in the forex market and cause the rupee’s value to drop. The demand for rupees in the forex market, on the other hand, depends on foreign demand for Indian exports and other domestic assets. When there is great enthusiasm among foreign investors to invest in India, it can lead to an increase in the supply of dollars in the forex market which in turn causes the rupee’s value to rise against the dollar. What is causing the rupee to lose value against the dollar? Since March this year, the U.S. Federal Reserve has been raising its benchmark interest rate causing investors seeking higher returns to pull capital away from emerging markets such as India and back into the U.S. This, in turn, has put pressure on emerging market currencies which have depreciated significantly against the U.S. dollar so far this year. Even developed market currencies such as the euro and the yen have depreciated against the dollar and the dollar index is up more than 9% so far this year. Some analysts believe that the RBI’s surprise decision to raise rates in May could have simply been to defend the rupee by preventing any rapid outflow of capital from India. India’s current account deficit, which measures the gap between the value of imports and exports of goods and services, is expected to hit a 10 year high of 3.3% of gross domestic product in the current financial year. Foreign investors are unlikely to plough capital into India when investment yields are rising in the U.S. What lies ahead? It is neither wise nor possible for the RBI to prevent the Rupee from falling indefinitely. Defending the Rupee will result in India exhausting its forex reserves over time because global investors have much bigger financial clout. Most analysts believe that the better strategy is to let the Rupee depreciate and act as a natural shock absorber to the adverse terms of trade. Thus, RBI should focus on containing inflation which is its legal mandate. The Government should contain its borrowings. Higher borrowings (fiscal deficit) by the Government consume domestic savings. Hence, the Industrial and other sectors of economy are forced to borrow from abroad. Over the long run, the Rupee is likely to continue to depreciate against the Dollar given the significant differences in long-run inflation between India and the U.S. The U.S. Federal Reserve has raised rates to tackle historically high inflation in the US that hit a 41-year high of 8.6%. This will induce other countries and emerging markets in particular to raise their own interest rates to avoid disruptive capital outflows and to protect their currencies. As interest rates rise across the globe, the threat of a global recession also rises as economies readjust to tighter monetary conditions. Conclusion: Analysts believe that, over the long run, the rupee is likely to continue to depreciate against the dollar given the significant differences in long run inflation between India and the U.S. The exchange rate has fallen to its historical low of 80, however Indian Rupee has shown a better performance in comparison to currencies of emerging economies. The inflation divides between the U.S and India will continue to further depreciate the Rupee. Nonetheless, with proactive fiscal and monetary measures, India can stabilize its currency value. MUST READ: Rupee Appreciation vs Rupee Depreciation            Source: The HINDU                      Previous Year Question Q.1) With reference to the Indian economy, consider the following statements: An increase in Nominal Effective Exchange Rate (NEER) indicates the appreciation of rupee. An increase in the Real Effective Exchange Rate (REER) indicates an improvement in trade competitiveness. An increasing trend in domestic inflation relative to inflation in other countries is likely to cause an increasing divergence between NEER and REER. Which of the above statements are correct? (2022) 1 and 2 only 2 and 3 only 1 and 3 only 1, 2 and 3 Q.2) Which one of the following is not the most likely measure the Government/RBI takes to stop the slide of Indian rupee? (2019) Curbing imports of non-essential goods and promoting exports Encouraging Indian borrowers to issue rupee denominated Masala Bonds Easing conditions relating to external commercial borrowing Following an expansionary monetary policy Q.3) Consider the following statements: The effect of devaluation of a currency is that it necessarily improves the competitiveness of the domestic exports in the foreign markets increases the foreign value of domestic currency improves the trade balance Which of the above statements is/are correct? (2022) 1 only 1 and 2 3 only 2 and 3 Adani’s global footprint and India’s infrastructure diplomacy Open in new window Syllabus Prelims – Current Affairs Mains – GS 3 (Economy- Infrastructure) Context: From mines to ports and logistics, the Adani conglomerate has been expanding across sectors, regions. This has gone hand in hand with India’s diplomatic and strategic outreach towards infrastructure diplomacy. What is infrastructure diplomacy? Infrastructure diplomacy is to promote infrastructure cooperation and economic ties overseas through political means and to enhance political trust between countries via collaboration in infrastructure development. Background: Foreign presence much earlier: In fact, the Adani group had been scouting abroad much earlier. Since 2010, the Adani group has been in Australia, developing the Carmichael coal mine in Queensland. A greenfield multi-purpose port: In 2017, Adani Ports and Special Economic Zones (Ltd) signed an MoU for a greenfield multi-purpose port for handling containers at Carey Island in Selangor state, about 50 km southwest of Kuala Lumpur. What is the situation now? Company pursues international infrastructure projects aggressively: The last two years, however, have seen the company pursue international infrastructure projects aggressively. In May 2022, APSEZ made a winning bid of $1.18 billion for Israeli state-owned Haifa Port, jointly with Israeli chemicals and logistics firm Gadot. Strategic joint investments: In August this year, APSEZ and Abu Dhabi’s AD Ports Group signed MoU for “strategic joint investments” in Tanzania. The new ASEZ-AD MoU will look at a bouquet of infrastructure projects besides Bagamoyo in the East African Indian Ocean nation — rail, maritime services, digital services, and industrial zones. India’s strategic objectives than has been possible so far: Is it just a coincidence that Adani’s global expansion closely shadows the Chinese footprint along its Belt and Road Initiative? Or is it that as Delhi competes with China for influence in the neighbourhood and beyond, the Adani group’s size, resources and capacity are seen as a key element in achieving India’s strategic objectives than has been possible so far. India’s infrastructure diplomacy: Is now becoming identified the world over with one company. Public and Private investment to bridge gaps: For the Adani group, described as India’s biggest ports and logistics company, there couldn’t be a better time. As the Quad grouping of Australia, India, Japan, and the US, competes with China in the Indo-Pacific, it has committed “to catalyse infrastructure delivery” by putting more than $50 billion on the table for “assistance and investment” in the Indo-Pacific over the next five years and “drive public and private investment to bridge gaps”. Implications of infrastructure diplomacy: Win-Win deal: Adani’s new “no-hands” model of doing business with neighbours a power plant in Jharkhand, exporting all its output to Bangladesh has been seen as a “win-win” deal. Economic interests lie at the heart of geopolitics: The link between diplomacy and commercial interests has generated its share of debate, especially in the US, where its diplomats, intelligence agencies and military interventions abroad have actively pushed the interests of big business first the hunt for cheaper raw materials, then for markets abroad, then to shift industry where manpower was cheaper. As seen in the new age trading blocs the US-led IPEF, and the Chinese dominated RCEP economic interests lie at the heart of geopolitics. Conclusion: At a time when global rivalries are growing sharper in the shadow of the war in Europe, and as India looks out for its own interests, pushing powerful corporates to the centre-stage of its diplomacy, whether it is to build ports, buy or sell weapons or make chips, is inevitable. Source: Indian Express                  Daily Practice MCQs Daily Practice MCQs Q.1) Which of the following statement(s) is/are correct regarding rabies? It is a zoonotic viral disease. Rabies is 100% fatal but 100% vaccine-preventable. One third of global rabies deaths are recorded in India. Select the correct option using the code given below: 1 and 2 only 2 and 3 only 1 and 3 only 1, 2 and 3 Q.2) The term  ‘Carbon dating’ often mentioned in news related to : a process of treatment of diseases in animals. a process to determine the age of archaeological samples. a medicine for the treatment of cancer. a process to determine the age of a meteorite. Q.3) Consider the following statements, with reference the BrahMos missile: It is a ramjet supersonic cruise missile The missile functions on the Fire and Forget principle with high accuracy. Select the correct answer using the code given below: 1 only 2 only Both 1 and 2 Neither 1 nor 2 Comment the answers to the above questions in the comment section below!! ANSWERS FOR ’24th September 2022 – Daily Practice MCQs’ will be updated along with tomorrow’s Daily Current Affairs. ANSWERS FOR 23rd September – Daily Practice MCQs Answers- Daily Practice MCQs Q.1) – a Q.2) – d Q.3) – a table, td, th { border: 1px solid;} table {width: 100%; border-collapse: collapse; }