UPSC Daily Current Affairs

Capital Controls and Ukraine War

Aug 21, 2023

Q: What is a capital control? A: A capital control is a government regulation that restricts the flow of money into or out of a country. Capital controls can take many forms, such as limits on how much money individuals can transfer abroad, or requirements that exporters convert their foreign currency earnings into the local currency. Q: What are the pros and cons of capital controls? A: The pros and cons of capital controls are a matter of debate. Some economists argue that capital controls can help to protect a country's economy fr... Read More...

Understanding the Inflation Reduction Act (IRA) and its Benefits and Pitfalls

Aug 21, 2023

The Inflation Reduction Act (IRA) is a protectionist policy that aims to shield domestic industries from international competition and promote economic growth within a country. This approach is part of a broader protectionist strategy that seeks to prioritize domestic production and insulate local industries from the challenges posed by global trade dynamics. The IRA, like other protectionist measures, has both benefits and drawbacks, which are crucial to understanding its impact on the economy. Benefits of the Inflation Reduction Act (IRA): Domestic Industry Growth: Read More...

Mini Grids in Rural India: A Path to Reliable Renewable Energy Access

Aug 21, 2023

Mini grids are emerging as a reliable solution to provide access to renewable energy in rural areas of India. These small-scale energy systems offer a way to meet the energy needs of remote communities that are often difficult to reach through traditional grid expansion. Mini grids can be designed using a combination of locally available resources, such as solar, biomass, small hydro, and wind, to ensure a consistent and sustainable power supply. Here's a short FAQ to help you understand mini grids and their impact in rural India: What are Mini Grids? Mini grids are localiz... Read More...

Solar Flares: Understanding an Extraordinary Natural Phenomenon

Aug 21, 2023

Solar flares are remarkable yet complex phenomena that occur on the sun's surface. These intense bursts of energy can have various effects on Earth's space environment and technology. Here's a brief FAQ to help you grasp the concept of solar flares: 1. What are Solar Flares? Solar flares are sudden and explosive releases of energy and radiation from the sun's surface. They are characterized by intense bursts of light, heat, and electromagnetic radiation across the entire electromagnetic spectrum. 2. What Causes Solar Fl... Read More...

Food Inflation: impact of Vegetable Inflation on Retail Inflation

Aug 19, 2023

1. What caused the surge in retail inflation in India? A surge in vegetable prices, particularly tomatoes, led to a 42-month high in retail inflation. This unexpected increase pushed the headline retail inflation figure beyond 7%, marking the first time in almost a year. 2. How much of the shift in Consumer Price Index (CPI) was attributed to vegetables? Around one-third (32%) of the year-on-year shift in CPI for July resulted from the substantial rise in vegetable prices. Tomatoes contributed significantly to this increase, posing a challenge... Read More...

Core Inflation:July 2023

Aug 19, 2023

1. What is core inflation? Core inflation refers to the inflation rate calculated without considering the impact of food and energy prices. It provides insight into the underlying inflation trend and helps identify broader economic factors influencing inflation. 2. What was the core inflation rate in July? In July, core inflation stood at 4.9%, down from 5.1% in June. This decline in core inflation is seen as positive, but economists suggest that it may remain elevated in the upcoming months. 3. How ... Read More...

NSE Emerge and BSE SME Platforms

Aug 19, 2023

1. What are NSE Emerge and BSE SME Platforms? NSE Emerge and BSE SME platforms are dedicated stock exchanges specifically designed for small and medium-sized enterprises (SMEs) to list their shares and raise capital through initial public offerings (IPOs). These platforms provide a regulated and organized marketplace for SMEs to access funding from the public. 2. Why has there been a surge in SME IPOs on NSE Emerge and BSE SME Platforms? There has been a notable increase in SME IPOs on these platforms due to various factors. The attractive val... Read More...

Understanding Green Hydrogen

Aug 19, 2023

1. What is Green Hydrogen? Green hydrogen, often referred to as renewable hydrogen, is produced through the process of electrolysis using renewable energy sources such as solar or wind power. It involves splitting water into hydrogen and oxygen, with the hydrogen being used as a clean and sustainable energy carrier. 2. How is Green Hydrogen Produced? Green hydrogen is produced through electrolysis, where an electric current is passed through water (H2O) to break it down into hydrogen (H2) and oxygen (O2). This process requires renewable energy... Read More...

Government Health Schemes in India:Jan Aushadhi Kendras

Aug 19, 2023

1. What is the Pradhan Mantri Jan Arogya Yojana? The Pradhan Mantri Jan Arogya Yojana, also known as Ayushman Bharat, is a government health insurance scheme launched in September 2018. It provides cashless hospitalization services of up to ₹5 lakh to approximately 12.5 crore families, covering a wide range of medical treatments and procedures. 2. What is the second component of the scheme? The second component of the scheme involves the establishment of health and wellness centers. These centers aim to upgrade primary health centers to prov... Read More...

CSIR-National Botanical Research Institute Introduces 'Namoh 108' Lotus Variety

Aug 19, 2023

The CSIR-National Botanical Research Institute (NBRI) has unveiled an improved variety of the national flower Lotus, named 'Namoh 108,' as a dedication to the country on the occasion of the 77th Independence Day. This new variety features 108 petals and has undergone technological intervention by NBRI to enhance its characteristics. Key Features of 'Namoh 108' Lotus Variety: 1. Enhanced Resilience: The improvised 'Namoh 108' Lotus variety is more resilient to varying weather conditions, making it better e... Read More...

Income-based and Consumption-based Estimates of Poverty in India:

Aug 19, 2023

Pros and Cons Income-Based Estimates: Pros: 1. Widely Accepted: Using income as a measure of poverty is widely accepted and understood by policymakers, researchers, and the general public. It's a straightforward way to assess economic well-being. 2. Direct Measure: Income-based estimates directly reflect a household's economic resources. It provides an indication of a family's ability to meet basic needs and engage in economic activities. Read More...

Gender Equality in India: Progress and Challenges

Aug 19, 2023

1. What is the status of women's education and employment in India? Government data analysis reveals that women in India are less likely to receive education and secure employment compared to men. Many women have never used the internet, and the gender gap persists as a significant issue in the country. 2. What did Prime Minister Narendra Modi mention in his Independence Day speech? In his Independence Day speech, Prime Minister Narendra Modi highlighted areas of improvement in gender equality. He pointed out that India has a higher percen... Read More...

Social Stock Exchange (SSE): Understanding the Basics

Aug 19, 2023

1. What is the Social Stock Exchange (SSE)? The Social Stock Exchange (SSE) is a regulated platform established to facilitate organizations dedicated to social causes in raising funds and accessing capital through stock exchanges. 2. What is the purpose of SSE? The SSE serves as a meeting ground for donors and social enterprises, allowing organizations to raise funds for their social initiatives while providing investors with the opportunity to support impactful projects. 3. What benefits are sought ... Read More...

Foxconn's Expansion Strategy in India: Challenges and Opportunities

Aug 19, 2023

1. "China Plus One" Strategy Drives Expansion: Amid supply chain disruptions and geopolitical tensions, global electronics manufacturer Foxconn is pushing to diversify its operations away from its heavy reliance on China. This approach, known as the "China plus one" strategy, aims to establish production bases in countries like India to mitigate risks and secure new markets. 2. Recent Moves in India: Foxconn, the manufacturer of iPhones and other electronics, is intensifying its efforts to invest in India. It has started co... Read More...

Windfall Taxes:Basics,Merits and Demerits

Aug 19, 2023

A windfall tax is a special type of levy that targets unexpectedly high profits earned by specific companies or industries due to external factors. Unlike regular taxes, windfall taxes are imposed during times of unusual profitability. These taxes aim to capture excess profits for public benefit and address income inequality during economic disparities. However, windfall taxes have sparked both support and criticism due to their potential impacts on businesses and the economy. This discussion will delve into the pros and cons of windfall taxes, shedding light on their effects on industries, economic behavior, and societal well-being. Read More...