UPSC Daily Current Affairs

RBI's Push for Local Currency Trade with UAE

Aug 26, 2023

The Reserve Bank of India (RBI) is reportedly encouraging banks to promote trade settlement between India and the UAE using local currency, signaling a strategic move to reduce the outflow of dollars and provide benefits to traders. Aims to Reduce Dollar Outflow Amidst a substantial bilateral trade volume and a significant number of Indian workers in the UAE, the RBI's initiative seeks to address the issue of dollars leaving India. In the fiscal year 2022-2023, India recorded a trade deficit of $21.62 billion with the UAE, prompting the consideration of local currency trade as an e... Read More...

India and ASEAN to Conclude FTA Review by 2025

Aug 26, 2023

India and the Association of Southeast Asian Nations (ASEAN) have reached an agreement to conclude the review of their existing free-trade agreement (FTA) in goods by the year 2025. The FTA between India and the 10-nation ASEAN bloc was implemented 13 years ago, and Indian businesses have long advocated for its review. Highlights of the Agreement: The decision to review the ASEAN-India Trade in Goods Agreement (AITIGA), signed in 2009, was a central theme at the 20th ASEAN-India Economic Ministers' meeting held in Semarang, Indonesia. An AITIGA joint committee meeti... Read More...

Incremental Cash Reserve Ratio (I-CRR) and Bond Yields

Aug 26, 2023

The Incremental Cash Reserve Ratio (I-CRR) is a monetary policy tool used by the Reserve Bank of India (RBI) to manage liquidity in the banking system. The Cash Reserve Ratio (CRR) is the portion of a bank's deposits that it must maintain with the central bank in the form of cash reserves. This requirement helps the central bank regulate the money supply in the economy. The I-CRR is an extension of the regular CRR, but it applies to the incremental increase in a bank's net demand and time liabilities (NDTL) within a specific period. NDTL refers to the total deposits held by a bank that are subject to res... Read More...

Beijing Consensus `Broken`

Aug 26, 2023

Understanding China's Economic Challenges and the "Beijing Consensus" 1. What is the "Beijing consensus" in relation to China's economic growth? The "Beijing consensus" refers to China's approach to economic development, characterized by state-led investment and infrastructure projects as drivers of growth. This strategy has been pivotal in China's rapid economic expansion over the past four decades. 2. Why is the "Beijing consensus" now considered "broken"? Read More...

Tamil Nadu's Health Insurance Scheme:Challenges and Benefits

Aug 25, 2023

Q1: What is Tamil Nadu's Chief Minister's Comprehensive Health Insurance Scheme (CMCHIS)? CMCHIS is a government health insurance scheme in Tamil Nadu, initiated 14 years ago to provide quality healthcare to lower-income individuals, including services like transplants, expensive drugs, and investigations. Q2: How has CMCHIS improved healthcare services? The scheme significantly improved healthcare services at government hospitals by offering treatments that were previously unaffordable, leading to advancements in patient care and trea... Read More...

Birth Control Beliefs and Challenges among Konda Reddi Tribe

Aug 25, 2023

Q1: Who are the Konda Reddi tribe, and where is the village discussed in the article located? The Konda Reddi tribe is a Particularly Vulnerable Tribal Group (PVTG) living in the Naxal-hit hill village of Muntha Mamidi in northeast Andhra Pradesh, India. Q2: What is the prevailing belief among the Konda Reddi tribe regarding family size? In Muntha Mamidi village, having five children is considered the minimum number, and many couples have up to 10 or 11 children due to the belief that more children lead to greater prosperity. ... Read More...

Swaraj Movement

Aug 25, 2023

1. What was the Swaraj Movement? The Swaraj Movement was a significant phase of India's struggle for independence from British colonial rule. It aimed to achieve self-governance or "swaraj" through various means, including mass protests, civil disobedience, and participation in legislative bodies. 2. When did the Swaraj Movement take place? The Swaraj Movement gained prominence during the early 1920s, particularly between 1920 and 1922, as a response to the suspension of the Non-Cooperation Movement and the disillusionment with c... Read More...

Jan Dhan Accounts Crossing 50 Crore Milestone

Aug 25, 2023

1. What is the Jan Dhan Accounts milestone that has been achieved? The Jan Dhan Accounts, a part of the Pradhan Mantri Jan Dhan Yojana (PMJDY), have crossed the significant milestone of 50 crore accounts. 2. When was this milestone achieved? As per the latest reports submitted by banks, the milestone of crossing 50 crore Jan Dhan accounts was achieved on August 9, 2023. 3. What is the significance of this milestone? The achievement of 50 crore Jan Dhan accounts... Read More...

G20 Health Ministers' Meeting and Outcome Document

Aug 25, 2023

1. What was the purpose of the G20 Health Ministers' meeting held in Gandhinagar, Gujarat? The G20 Health Ministers' meeting in Gandhinagar aimed to bring together health ministers from G20 member countries to discuss and address important global health challenges, including issues related to climate change, healthcare resilience, infectious diseases, and antimicrobial resistance. 2. What key outcome was achieved during the G20 Health Ministers' meeting? The key outcome of the G20 Health Ministers' meeting was the adoption of a... Read More...

Bharatiya Nagrik Suraksha Sanhita, 2023 Bill:e-Justice

Aug 25, 2023

What is the Bharatiya Nagrik Suraksha Sanhita, 2023 Bill? The Bharatiya Nagrik Suraksha Sanhita, 2023 Bill is a legislative proposal introduced in the Lok Sabha by Union Home Minister Amit Shah on August 11. This bill aims to establish a tech-friendly legal framework that promotes the use of technology in various aspects of the criminal justice system, including investigation, trial, court proceedings, and related procedures. What does the bill seek to replace? The bill seeks to repeal the existing Code of Criminal Procedure (CrPC) of 1973. Wh... Read More...

Changes in FAME 2 Subsidy Scheme and Impact on Electric Two-Wheeler Industry

Aug 25, 2023

Q1: What is the FAME 2 Subsidy Scheme? A1: The Faster Adoption and Manufacturing of Electric Vehicles (FAME) 2 Subsidy Scheme is a government initiative in India that provides financial incentives to promote the adoption of electric vehicles (EVs), including electric two-wheelers. Q2: What changes were made to the FAME 2 Subsidy Scheme? A2: The government revised the FAME 2 subsidy amount for electric two-wheelers, reducing it from 15,000 per kWh to 10,000 per kWh. Additionally, the incentives on e-2Ws were capped at 15% of the ex-factory pric... Read More...

India's Smart Cities Mission and its Progress

Aug 25, 2023

Q1: What is the Smart Cities Mission in India? A1: The Smart Cities Mission is a government initiative launched in 2015 with the goal of transforming selected cities into smart, modern, and technology-enabled urban centers that provide better quality of life for residents. Q2: How were cities selected for the Smart Cities Mission? A2: The selection of cities for the Smart Cities Mission was based on a competitive process where city bureaucrats presented their pitches, and cities were selected by the Ministry of Urban Affairs. The goal was to s... Read More...

Climate Change and Food Security in India

Aug 25, 2023

Introduction Inflation Pressures: The Indian government is grappling with a significant inflationary challenge, as reflected by the 15-month high of 7.44% in July. As a response, it has implemented measures to curb inflation, including discouraging onion exports with a 40% duty and banning exports of certain key food items. The Underlying Problem Climate Change Impacts: Adverse weather patterns, including unexpected rains, prolonged droughts, and flooding, contribute to escalating food inflation worldwide. Read More...

Nepal-China Relations: Implications for India

Aug 25, 2023

Overview: Nepal's historical ties with its two giant neighbours, India and China, have always been a balancing act. While India and Nepal have deep-rooted cultural, historical, and socio-economic ties, Nepal's relationship with China has seen a significant boost in recent years. With both India and China looking to strengthen their ties with Nepal, this trilateral dynamic holds broader geopolitical implications. Recent Developments: Bilateral Military Cooperation: Nepal and China are set to enhance their military cooperation wit... Read More...

Onion Inflation: Dealing with it Government's Multi-Faceted Approach to Stabilize Onion Prices

Aug 25, 2023

Background: In the last two weeks, onion prices have surged by approximately 20%, causing concern among consumers and policymakers. Measures Taken: • Heavy Export Duty: In a bid to ensure domestic availability and control the rising prices, the government has imposed a hefty 40% duty on onion exports. This duty will remain in effect up to December 31, 2023. • Buffer Stock Enhancement: The government has set an... Read More...