UPSC Daily Current Affairs

High-frequency indicators in India

Sep 21, 2023

High-frequency indicators in India serve as vital data points for tracking economic and social performance. Here are some common ones: PMI (Purchasing Managers’ Index): Gauges business activity, production, and new orders in manufacturing and services sectors. IIP (Index of Industrial Production): Provides monthly data on industrial output, including manufacturing, mining, and electricity generation. CPI (Consumer Price Index): Monthly inflation data reflecting changes in consumer goods and services... Read More...

ISRO and XPoSat Mission

Sep 21, 2023

India’s space agency, ISRO, is preparing for its groundbreaking XPoSat mission, set to launch by year-end, dedicated to studying bright astronomical X-ray sources through polarimetry. Here are the key points: Unique Mission: XPoSat stands out by enabling the study of challenging astronomical sources not easily explored using conventional methods. Polarimetry Significance: Polarimetry, measuring light polarization's degree and angle, unveils insights into celestial object emissions, enriching our comprehension. Read More...

e-Rupee/Digital Rupee/CBDC

Sep 21, 2023

The digital rupee, India’s central bank digital currency (CBDC), is on its journey to potential success. Here's an organized overview: Launch Date: Launched in November 2022 as a pilot project by the Reserve Bank of India (RBI) initially in the wholesale segment, followed by the retail segment a month later. Volume in Circulation: By March 31, 2023, the digital rupee's total value in circulation reached Rs 16.4 crore, with Rs 5.7 crore in the retail segment, although this is a pilot and not comparable to physical currency. Read More...

Asian Premium for Oil

Sep 21, 2023

The "Asian premium" is a policy implemented by the Organization of the Petroleum Exporting Countries (OPEC) where they charge higher prices for oil exports to Asian countries compared to what they charge western countries. This policy has been in place for several decades, and here are the reasons and the background behind it: Market Dynamics and Demand: High Demand: Asian countries, including India and China, have high energy demands due to their large populations and rapidly growing economies. Limited Alternatives: Asian countries historically h... Read More...

Battery Energy Storage Systems (BESS):India

Sep 21, 2023

What's the Plan to Scale Up Storage? Centre's Scheme: Goal: Reach 4GWh BESS capacity by 2030-31 Funding: Rs.3,760 crore viability gap funding for developers Incentive: Rs.18,100 crore production-linked incentive for advanced cell chemistry battery manufacturing Global Trends: Investments: $5 billion in 2022, aiming for a $150 billion market by 2030 Price Drop: Lithium-ion battery prices dropping, ma... Read More...

Crude Oil Price Rise:Causes and Effects

Sep 21, 2023

The recent surge in oil prices is primarily due to supply-side concerns, with major oil producers like Saudi Arabia and Russia extending their voluntary output cuts till the end of December. This situation is impacting India significantly due to the following reasons: Why the Price Rise? Supply-Side Concerns: Saudi Arabia and Russia's decision to extend output cuts Global Market Dynamics: Increased demand and geopolitical tensions affecting the global oil market Impact on India Read More...

"Socialist" and "Secular" in the Preamble to the Constitution of India

Sep 21, 2023

What does "socialist" mean in the Preamble to the Constitution of India? Definition: The term "socialist" refers to the government's commitment to promote social welfare and economic equality among its citizens.br/> It aims to reduce disparities in wealth and resources through state intervention. Implementation: Through various legislations and policies, the government aims to ensure equitable distribution of resources and opportunities to all citizens, promoting social justice and welfare. Amendment: The te... Read More...

Large-Cap,Mid-Cap and Small-Cap Stocks:SEBI Definition

Sep 21, 2023

Large-Cap Funds Definition: Investments in companies with a high market capitalization, currently defined as over Rs.50,000 crore as per SEBI's guidelines. Characteristics: Generally involves well-established companies with a stable performance record. Offers limited but relatively stable growth potential. Regulator: Defined by the Securities and Exchange Board of India (SEBI). Mid-Cap Funds Definition: Investments in companies with a market capitalization betw... Read More...

Self-Help Groups (SHGs) and Joint Liability Groups (JLGs)

Sep 21, 2023

Self-Help Groups (SHGs) Origin: Rooted in the social concept of mutual aid, emphasizing community and empowerment. Structure: Small local groups, mainly consisting of women, who save and borrow collectively at a low-interest rate (around 12% per annum), facilitated by state subsidies. Repayment Responsibility: Each borrower is individually responsible for their repayment, without a collective liability on the group. Benefits: Empowerment: Encourages distributed and... Read More...

North Korea-Russia

Sep 20, 2023

What is the purpose of Kim Jong Un's visit to Russia? Kim Jong Un's visit to Russia primarily aims to discuss Russia's desire to purchase ammunition and war supplies from North Korea to replenish reserves depleted by its conflict in Ukraine. Why is this meeting significant? The meeting highlights deepening cooperation between North Korea and Russia, as both countries are engaged in separate confrontations with the United States. It marks Kim's first foreign visit since North Korea closed its borders in January 2020. ... Read More...

World Employment Outlook 2023:ILO-Gig and AI

Sep 20, 2023

Global employment trends:The World Employment Outlook report projects a 1% increase in global employment for the current year. However, this growth is accompanied by growing social and economic inequalities. Impact of crises: Interconnected crises have led to a simultaneous rise in extreme poverty and extreme wealth for the first time in 25 years. Addressing global inequality: A revitalized multilateral approach and policies that support a future of work centered on greater equality and social justice are needed. This includes supporting ongoing transitions in ... Read More...

China Decoupling and De-risking:What,Why and How

Sep 20, 2023

Decoupling involves the reduced connection between China's financial markets and the rest of the world, as well as shifts in global supply chains and investments. On the otherhand, de-risking refers to the strategic efforts made by businesses and industries to decrease their dependence on China for essential materials and as a market for their finished products. The primary goal of de-risking in this context is to minimize potential risks associated with trade disruptions and interruptions in global supply chains. By diversifying sourcing and market strategies, companies aim to enhance their resilience to economic or geopolitical challeng... Read More...

Capital Formation In India:Need for Private Sector Investment

Sep 20, 2023

Private investment plays a critical role in driving economic growth and sustaining development in any country. In the case of India, private-sector investment was a significant contributor to the nation's growth during the 2000s. To understand the need for and facts about private investment in India, let's break down the key points: Private Investment and Growth: India's robust economic growth during the 2000s was largely fueled by private-sector investment. Globally, countries with high gross fixed capital formation (GFCF) rates have historically experienced substantial ... Read More...

The Need for Farm Mechanization

Sep 20, 2023

Agriculture mechanization serves as a crucial tool for enhancing farm operations and outcomes. While mitigating drudgery is an important outcome, it primarily aims to improve precision, efficiency, cost-effectiveness, productivity, and profitability in farming. Moreover, factors like the scarcity of farm labor and rising wage rates further drive the adoption of machines. India's Farm Mechanization Challenge Despite its importance, farm mechanization in India remains below par, officially standing at 47%. This level falls significantly behind China's 60% and Brazil's 75%. Read More...

MOSIP - Simplified

Sep 20, 2023

MOSIP (Modular Open Source Identity Platform) is an open-source digital identity system developed by the International Institute of Information Technology-Bangalore (IIIT-B). It provides countries with a foundational digital identity infrastructure similar to India's Aadhaar. Benefits of MOSIP: Inclusivity: MOSIP allows governments to design inclusive services tailored to their citizens' needs, considering technological and information challenges. Customization: It offers flexibility for governments to choose the features they need. F... Read More...