UPSC Daily Current Affairs

Fed Rates and Debt Crisis in the Developing Countries

Aug 12, 2023

The whole of the fiscal year 2022-23 Indian rupee was under pressure as the Fed rates were going up to deal with the US inflation and foreign currency was leaving India in search of yield-yielding US dollar. RBI used up much forex defending the rupee. India is not alone. Most developing countries went into a sovereign debt crisis-Sri Lanka and Pakistan in our neighbourhood. The link between Federal Reserve (Fed) interest rates and potential debt crises in developing countries is an interconnected phenomenon that can have far-reaching economic implications. The relationship between these two factors highlights th... Read More...

Reserve Bank of India's MPC Decision Incremental CRR August 2023

Aug 12, 2023

Reserve Bank of India's MPC Decision: The Monetary Policy Committee (MPC) of the Reserve Bank of India has unanimously kept the policy repo rate unchanged at 6.5%. Inflation Projection: The MPC raised the retail inflation projection for the current fiscal year by 30 basis points to 5.4% due to rising vegetable prices and potential El Niño weather conditions. Withdrawal of Accommodation: The MPC, with a majority of 5 out of 6 members, aims to withdraw accommodation gradually to align inflation with the target while supporting economi... Read More...

Addressing Ecological Destruction in the Himalayan Region

Aug 12, 2023

Q: What are the concerns related to the Himalayan region's ecological health? A: The Himalayan region is facing challenges due to various factors, including uncontrolled tourist activities, over-exploitation of natural resources, and illegal constructions, all of which threaten its delicate ecosystem. Q: What has been suggested to address these concerns? A: The parliamentary standing committee on science and technology, environment, forests, and climate change has recommended that the Union environment ministry take proactive steps to tack... Read More...

Addressing Ecological Destruction in the Himalayan Region

Aug 12, 2023

Q: What is the central bank's proposal regarding the Unified Payments Interface (UPI)? A: The Reserve Bank of India (RBI) has put forward a proposal to integrate conversational payments into the Unified Payments Interface (UPI) using artificial intelligence (AI). Q: How has the industry responded to this proposal? A: The industry has shown a swift and positive response to the proposal. It recognizes that this step could accelerate the widespread adoption of the UPI digital platform across the country. Read More...

Importance of Exports to Indian Economy:Steps Necessary

Aug 12, 2023

Q: Why is trade important for India's economic growth? A: Trade has historically played a significant role in driving India's economic growth. It's a way for the country to sell its products and services to other countries, boosting its economy. Q: What are the three pillars for India's trade growth? A: The article mentions three pillars: Global Value Chains (GVCs): India should reduce tariffs, simplify trade policies, and integrate better into the global production... Read More...

Indo-Pacific Economic Framework for Prosperity (IPEF) and India

Aug 12, 2023

The Indo-Pacific Economic Framework for Prosperity (IPEF) is a new economic initiative launched by the United States in May 2022. It is designed to promote economic growth, resilience, and cooperation in the Indo-Pacific region. The IPEF is built around four pillars: • Trade: The trade pillar will focus on reducing tariffs and other barriers to trade, promoting fair and equitable trade, and strengthening supply chains. • Supply Chains: The supply chains pillar will focus on making supply chains more resilient and secure, and on promoting cooperatio... Read More...

Assisted Reproductive Technology (Regulation) Act, 2021 :Benefits and Criticism

Aug 12, 2023

The Assisted Reproductive Technology (Regulation) Act, 2021 was enacted on December 20, 2021, by the Parliament of India to oversee and regulate the operations of assisted reproductive technology (ART) clinics and ART banks in the country. The Act addresses concerns related to the rapid proliferation of ART clinics and the need to ensure the rights and well-being of individuals undergoing fertility treatments, including surrogacy. Benefits and Significance: 1. Regulation and Oversight: The Act aims to supervise and regulate the functioning of ART clinics and ART b... Read More...

Climate Change Threatens Antarctica: Implications and Concerns

Aug 12, 2023

Antarctica, the icy land at the bottom of the world, is facing a big problem – climate change. This problem is causing the ice around Antarctica to melt, and that's bad news for all of us. Let's see why this is happening and what it means. Less Ice in Antarctica: People who study Antarctica have noticed something worrying. The ice that usually floats around the continent is disappearing faster than before. This is happening even during the time when it's supposed to be growing. This is not normal and could lead to big changes. Read More...

Bilateral Investment Treaties and India: Status, Criteria, Motives, and Disputes

Aug 11, 2023

Status of BITs (Bilateral Investment Treaties) in India: Bilateral Investment Treaties (BITs) are agreements between two countries that provide legal protection and framework for foreign investments. India has been engaged in signing BITs since 1994, aiming to attract foreign investment and promote economic growth. However, India's approach to BITs has evolved over time, leading to changes in its negotiation strategy and the model BIT text. Criteria and Motives for Signing BITs: India's criteria for signing BITs have historically inclu... Read More...

Cross-Border Electricity Trade: India and South Asia

Aug 11, 2023

Neighbourhood Policy India's Vision for Cross-Border Electricity Trade: India aspires to significantly enhance its cross-border electricity trade by establishing connections with countries across South Asia, BIMSTEC, and Southeast Asia. This strategic initiative builds upon the existing cross-border power trade within the Bhutan, Bangladesh, India, Nepal, and Myanmar sub-regional grouping. Furthermore, there are plans to extend this cooperative effort to include Sri Lanka. In pursuit of this goal, India's power ministry has engaged in discussions with va... Read More...

Quit India Movement and the British Response

Aug 11, 2023

The Quit India Movement marked a significant turning point in India's fight for freedom, showcasing the country's strong determination to break away from British colonial rule. Causes The Quit India Movement was ignited by various factors and triggers that led to its emergence. It stemmed from the growing discontent with British colonial rule and was prompted by the circumstances of World War II. The Cripps Mission's failure to address India's demands and its inability to provide a clear roadmap for independence fueled public support for the... Read More...

Digital Data Protection and Privacy:

Aug 11, 2023

Consent and Deemed Consent Consent and deemed consent are two different concepts related to data protection and privacy regulations: 1. Consent: Consent refers to the explicit and voluntary agreement given by an individual for the processing of their personal data. It involves a clear and affirmative action where the individual is fully aware of what they are consenting to. Consent should be specific, informed, and unambiguous. Organizations are required to obtain consent before collecting, using, or sharing an individual&... Read More...

India and the Indo-Pacific

Aug 11, 2023

What is India's approach to the Indo-Pacific region? India is increasingly engaging in the Indo-Pacific region to counterbalance China's influence and contribute to regional stability and security. It has taken various diplomatic and military actions, such as sending warships to visit countries like Papua New Guinea, supporting nations in territorial disputes with China, and participating in military exercises with partners like Australia. Q: How has India engaged with specific countries in the Indo-Pacific? India has gifted an active ... Read More...

Sedition Replaced Revamping Colonial-Era Criminal Laws: Key Changes Explained

Aug 11, 2023

The colonial-era Indian Penal Code of 1860 is being replaced by the Bharatiya Nyaya Sanhita. The Code of Criminal Procedure is being replaced by the Bharatiya Nagarik Suraksha Sanhita, and the Indian Evidence Act is being replaced by the Bharatiya Sakshya. Q: What changes have been announced for the colonial-era criminal laws in India? A: The Indian government has introduced a comprehensive overhaul of these laws, including the replacement of the Indian Penal Code, the Code of Criminal Procedure, and the Indian Evidence Act with n... Read More...

Collegium Bill for Election Commissioners

Aug 11, 2023

Bill was introduced in the Parliament that seeks to replace the Chief Justice of India (CJI) from the committee responsible for selecting the Chief Election Commissioner (CEC) and Election Commissioners. Background: A Constitution Bench led by Justice K.M. Joseph, now retired, had included the Chief Justice in the selection committee for the CEC, in line with a recommendation from a committee headed by the then Law Minister Dinesh Goswami in 1990.(Read on) The goal of this recommendation was to introduce electoral reforms and enh... Read More...