UPSC Daily Current Affairs

India's Corporate Bond Market

Dec 05, 2023

What is a Corporate Bond Market? The corporate bond market is a financial platform where companies issue bonds to raise funds from investors. These bonds are debt securities, promising to pay back the principal along with interest at a specified future date. Importance of the Corporate Bond Market: Capital Raising: Enables corporations to gather capital for expansion, projects, or refinancing existing debt. Investment Opportunities: Provides investors, including institutions and individuals, with investment options, offering potential returns and diver... Read More...

Monthly GST Collections in India: Fiscal Year Trends

Dec 05, 2023

Overview: Finance Minister Nirmala Sitharaman reported that the average monthly GST collection for the current fiscal year is Rs1.66 lakh crore. There's been a consistent upward trend in GST collections since its implementation on July 1, 2017. Current Fiscal Year Data: Monthly Collections: Surpassed Rs.1.50 lakh crore every month. Record High: Reached Rs.1.87 lakh crore in April. Yearly Comparison: FY 2023-24: Average monthly collection stands at Rs1.66 lakh crore, an 1... Read More...

Agri-Food Systems

Dec 05, 2023

An Agri-Food System encompasses all the elements and activities related to the production, processing, distribution, preparation, and consumption of food. It's an intricate network that includes everything from agricultural inputs like seeds and fertilizers to farming, harvesting, food processing, packaging, transportation, marketing, consumption, and disposal of food and food-related items. The system is not only about agriculture but also involves the broader economic, societal, and natural environments in which these activities take place. Formation and Functioning of Agri-Food Systems Starts ... Read More...

Venezuela-Guyana Territorial Dispute: Escalation Concerns

Dec 05, 2023

Situation Overview: Venezuela's recent referendum on the sovereignty of the Essequibo region, part of Guyana, has reignited longstanding territorial disputes between the two South American nations. Referendum Outcome: Venezuela's Claim: Over 95% voter support for Venezuela’s sovereignty over Essequibo. Timing: Conducted close to Venezuela's next presidential election, suggesting possible political motivations. Historical Context: Longstanding Claims: Venezuela has claimed... Read More...

Sindhudurg Fort: A Historical Marvel

Dec 05, 2023

Sindhudurg Fort, located in Maharashtra, India, is a historical fortress situated on an island in the Arabian Sea. Key Features: Construction: Built by Maratha ruler Shivaji Maharaj in the 17th century. Strategic Design: The fort's architecture reflects Maratha naval prowess, designed to fortify against naval attacks. Accessibility: Accessible by boat, the fort presents a blend of natural beauty and historical significance. Historical Significance: Defense Against Colonial Powers: It was a key defense st... Read More...

Indian Suicide Statistics: NCRB Report Highlights

Dec 05, 2023

Overview: The National Crime Record Bureau (NCRB) of India released a concerning report on the suicide statistics for 2022, highlighting the vulnerability of certain demographic groups. Suicide Data: High Incidence: Over 1.7 lakh suicides in 2022. Vulnerable Groups: Nearly one-third were daily wage earners, agricultural laborers, and farmers. Regional Data: Highest numbers in Maharashtra, Tamil Nadu, and Madhya Pradesh. Additional Insights: Crime Against SC/ST: Increase in c... Read More...

India’s Foreign Trade Policy 2023

Dec 05, 2023

India’s Foreign Trade Policy (FTP) of 2023 was unveiled amidst the country’s highest export figures yet, with merchandise and services reaching a staggering $760 billion. The policy aims to keep this momentum in the face of global challenges like supply chain disruptions and international conflicts. From Past Incentives to Future Readiness Previously, India offered incentives like the Merchandise Exports from India Scheme (MEIS) and the Services Exports from India Scheme (SEIS), but they were phased out for being non-compliant with World Trade Organization (WTO) rules. Now, India has shif... Read More...

The Maistry System: Labour Dynamics in Colonial India and Burma

Dec 05, 2023

Overview of the Maistry Recruitment Practice A cornerstone of the colonial construction industry in Burma, the Maistry System was integral to infrastructure development, characterized by skilled laborers who managed and recruited workers, predominantly from India. Legacy of the Maistry System Post-independence, the system's influence waned, but its cultural and demographic impact remains a significant part of Myanmar's history. Details: The Maistry System in Burma was a labor recruitment practice during British colonial times, particular... Read More...

Girmitiyas: Understanding Indentured Labor

Dec 05, 2023

Who were the Girmitiyas? Girmitiyas were indentured laborers from British India who were transported under an agreement to work on plantations across various British colonies, including Fiji, the Caribbean, and parts of Africa and Southeast Asia. What is the origin of the term ‘Girmitiyas’? The term ‘Girmitiyas’ is derived from the Indian pronunciation of the English word “agreement,” referencing the contract laborers from the Indian subcontinent signed to work abroad. What does the term ‘Ja... Read More...

Kangani System in British Colonial South Asia

Dec 05, 2023

Introduction to the Kangani System The kangani system emerged as a distinctive labor recruitment method during British colonial rule, prevalent in regions of Southeast Asia now known as Myanmar, Malaysia, and Sri Lanka. This system operated concurrently with indentured servitude, gaining prominence in the late 19th century. Mechanics of the Kangani Recruitment At the heart of the kangani system was the kangani themselves—recruiters and overseers akin to foremen, derived from the Tamil term for ‘observer’. These individuals were responsible for sourcin... Read More...

State of Punjab v. Principal Secretary to the Governor of Punjab 2023 : A Landmark Ruling on Governor

Dec 05, 2023

Clarifying the Constitutional Mandate of Governors In a landmark judgment, the Supreme Court decisively outlined the constitutional limitations and obligations of state governors, reinforcing the pillars of democratic governance and the essence of federalism. Democracy and Federal Balance: The Court’s Interpretation The ruling addresses the governor’s authority to assent to legislation, ensuring that this power is not wielded to undermine the legislative process or the will of democratically elected bodies. The Supreme C... Read More...

Standing Deposit Facility (SDF

Dec 04, 2023

The Standing Deposit Facility (SDF) is a monetary policy tool used by the Reserve Bank of India (RBI) to manage liquidity in the banking system. Here’s an overview of how it works and its effects: How does the SDF work? The SDF allows banks to deposit funds at the RBI without the need for providing collateral. It serves as a safety valve for the banking system, where banks can park their excess liquidity. The rate offered on the SDF acts as the lower bound of the Liquidity Adjustment Facility (LAF) corridor, influencing the rates at which banks lend to each other o... Read More...

The Loss and Damage Fund

Dec 04, 2023

What is The Loss and Damage Fund? The Fund is a financial mechanism established to support developing countries that are particularly vulnerable to the adverse effects of climate change, facilitating rehabilitation and compensation for damages. How was The Loss and Damage Fund established? It was first proposed by the Alliance of Small Island States and officially established at COP27 with further developments in the structure and commitments made at COP28. Why do developing countries need The Loss and Damage Fund? Read More...

Crop Diversification in Punjab

Dec 04, 2023

What is the aim of crop diversification in Punjab? The goal is to shift from the prevalent paddy-wheat crop rotation to more sustainable and profitable alternatives like fruit cultivation, thus improving farmers’ incomes and preserving water resources. Why is fruit cultivation being emphasized in Punjab? Fruit cultivation, especially of kinnow, guava, and pear, is promoted due to its higher income potential, better use of resources, and to meet the rising demand for these fruits. What are the estimated net returns for kinnow, ... Read More...

MILAN 2024: Strategic Implications

Dec 04, 2023

What is MILAN 2024? MILAN 2024 is a strategic multilateral naval exercise hosted by India, aimed at reinforcing cooperation and interoperability among navies of around 50 participating nations in the Indian Ocean Region. Why is MILAN important for regional security? MILAN plays a critical role in enhancing collective maritime security, addressing common challenges like piracy and trafficking, and ensuring a stable and secure maritime environment. How does MILAN 2024 promote international naval collaboration? Read More...