UPSC Daily Current Affairs

OCEN and Financial Inclusion: Simplifier

Sep 07, 2024

OCEN and Financial Inclusion: Simplifier What is OCEN? What is OCEN lending? OCEN (Open Credit Enablement Network) is a digital framework aimed at making lending in India more accessible,particularly for individuals and small businesses who may have limited access to traditional financial services. It acts as a bridge between borrowers, lenders, and lending service providers (LSPs) by creating a standardized way for them to interact and share information. OCEN establishes a set of rules and standards for communication in the lending process. It simplifies how d... Read More...

INDIA NEEDS A NEW INCOME TAX CODE

Sep 07, 2024

INDIA NEEDS A NEW INCOME TAX CODE Overview India is considering overhauling its Income-Tax Act, 1961, to address the growing complexities and to align the tax system with modern economic realities. This effort is part of a broader initiative to simplify tax laws, enhance taxpayer services, and ensure a more effective and transparent taxation system. Why is a New Income-Tax Act Needed? 1. Reducing Complexities: • The existing Income-Tax Act, 1961, has over 1,000 sub-sections and clauses, making it highly complex and difficult to navigate. • Simplifying the tax code wi... Read More...

GDP GROWTH IN Q1 2024-25

Sep 07, 2024

GDP GROWTH IN Q1 2024-25 India's real GDP growth in the first quarter (April to June) of the fiscal year 2024-25 was recorded at 6.7%, marking the slowest pace in five quarters. Despite falling short of the Reserve Bank of India's forecast of 7.1% and the previous quarter's 7.8%, this performance still showcases significant strengths in the economy. KEY FACTS FROM THE REPORT: GDP Growth: India's GDP grew by 6.7%, the lowest in the last five quarters. GVA Growth Outperforms GDP: The real Gross Value Added (GVA) growth was 6.8%, outperforming GDP growth for t... Read More...

CYCLONE ASNA: A RARE METEOROLOGICAL PHENOMENON IN THE ARABIAN SEA

Sep 07, 2024

CYCLONE ASNA: A RARE METEOROLOGICAL PHENOMENON IN THE ARABIAN SEA INTRODUCTION: Cyclone Asna is an extraordinary meteorological event that has drawn significant attention due to its unusual origin and development. Unlike typical cyclones, which form over warm ocean waters, Asna’s journey began over the landmass of Rajasthan. This cyclone transitioned from a land-based depression into a powerful system over the Arabian Sea, where it intensified rapidly. Such an occurrence is not only geographically rare but also scientifically fascinating, as it defies the conventional patterns associated with cyclone formation and movement... Read More...

PACIFIC ISLANDS FORUM TONGA SUMMIT 2024: OUTCOMES AND SIGNIFICANCE

Sep 07, 2024

PACIFIC ISLANDS FORUM TONGA SUMMIT 2024: OUTCOMES AND SIGNIFICANCE Q: What is the Pacific Islands Forum? A: The Pacific Islands Forum is a political and economic policy organization founded in 1971. It consists of 18 member countries from the Pacific region, including Australia, New Zealand, and various Pacific island nations. The forum facilitates cooperation and coordination among member states, addressing regional issues such as economic development, climate change, and security. Q: What were the main outcomes of the 2024 Pacific Islands Forum? A: The 2024 Forum saw several significa... Read More...

Spoils System in the USA

Sep 07, 2024

Spoils System in the USA Definition The spoils system, also known as patronage, is a practice where a political party, after winning an election, gives government jobs to its supporters, friends, and relatives as a reward for working toward victory, and as an incentive to keep working for the party. This system contrasts with hiring and promotion based on merit. Origin The term "spoils system" originated from the phrase "to the victor belong the spoils" by New York Senator William L. Marcy in 1832, reflecting the practice of the winning party distributing public offices. Its impl... Read More...

Malaiyaha Tamils of Sri Lanka: FAQs

Sep 06, 2024

Malaiyaha Tamils of Sri Lanka: FAQs Q: Who are the Malaiyaha Tamils? A: The Malaiyaha Tamils are a distinct community in Sri Lanka, primarily residing in the central highlands (also known as the "Hill Country"). Their ancestors were brought from South India by the British during the 19th and 20th centuries to work as indentured laborers on tea, coffee, and rubber plantations. Q: What challenges have the Malaiyaha Tamils faced historically? A: Historically, the Malaiyaha Tamils have faced numerous challenges, including: Stateless... Read More...

ATLANTIC NINA:FAQs

Sep 06, 2024

ATLANTIC NINA:FAQs What is Atlantic Niña? Atlantic Niña is a climatic phenomenon that occurs in the Atlantic Ocean, characterized by cooler than normal sea surface temperatures. It is similar to La Niña, which occurs in the Pacific Ocean, but it tends to have different impacts on weather patterns. How does Atlantic Niña affect hurricane activity? Atlantic Niña typically leads to less ideal conditions for hurricanes in the Atlantic Ocean due to the cooler sea surface temperatures it brings. This can result in fewer and potentially less intense tropical storms and hurr... Read More...

INS ARIGHAT SSBN: INDIA COMMISSIONS SECOND NUCLEAR MISSILE SUBMARINE

Sep 06, 2024

INS ARIGHAT SSBN: INDIA COMMISSIONS SECOND NUCLEAR MISSILE SUBMARINE Significant advancement in India’s naval capabilities with the commissioning of its second nuclear-powered ballistic missile submarine, INS Arighat which emphasizes India’s ongoing enhancement of its nuclear deterrent and robust second-strike capability. INS Arighat, referred to as S-3, is the successor in the Arihant-class submarine line following INS Arihant (S-2). With a displacement of 6,000 tonnes, it is designed for extended patrols in the Indo-Pacific, armed with K-15 nuclear ballistic missiles that have a range of 750 km. This commissioning underscores India’s str... Read More...

Agricultural Infrastructure Fund (AIF) and Farmers' Producers Organisations (FPOs)

Sep 06, 2024

Agricultural Infrastructure Fund (AIF) and Farmers' Producers Organisations (FPOs): Q1: What is the Agricultural Infrastructure Fund (AIF)? A: The AIF is a central government initiative in India designed to bolster agricultural infrastructure in the country. It aims to facilitate investments in projects that enhance post-harvest management infrastructure and community farming assets, improving agricultural output and farmers' incomes. Q2: How has the AIF been redesigned to benefit Farmers' Producers Organisations (FPOs)? A: The Union Cabinet has expanded the AIF to specifically include support f... Read More...

UPI’s Global Expansion: The Story So Far

Sep 06, 2024

UPI’s Global Expansion: The Story So Far India’s Unified Payments Interface (UPI) has dramatically reshaped the digital payment sector within the country, and is now making strides on the international stage. Promoted by influential figures like Governor Shaktikanta Das, UPI’s global adoption aims to extend its profound efficiencies worldwide, though it faces numerous challenges. Progress and Aims: Governor Shaktikanta Das has been advocating for UPI as an integral tool for global financial transactions at various international forums, including the Global Fintech Fest in Mumbai. The primary goal is to make UPI a global ... Read More...

Bharatiya Antariksha Station (BAS):Simplifier

Sep 06, 2024

Bharatiya Antariksha Station (BAS):Simplifier What is the Bharatiya Antariksha Station (BAS)? The Bharatiya Antariksha Station (BAS) is India’s own space station, set for a launch date in 2028, with operational plans extending to 2035. It represents a significant advancement in India’s space capabilities. What are the goals of BAS? The primary goal of BAS is to establish a stable platform for advanced scientific research and technological demonstrations in orbit. It aims to foster innovative developments in space technology and science, particularly as the ISS is expected to be decommissioned by 2030. Read More...

BPaL(M) & NEW STRATEGIES FOR TB CONTROL IN INDIA

Sep 06, 2024

BPaL(M) & NEW STRATEGIES FOR TB CONTROL IN INDIA BPaL(M): A Breakthrough in Drug-Resistant Tuberculosis Treatment The fight against tuberculosis (TB) faces a growing challenge: the rising prevalence of drug-resistant TB (DR-TB), a form of the disease that doesn't respond to standard medications. This poses a significant threat to global health, particularly in low- and middle-income countries where DR-TB is more common. Traditional treatment regimens for DR-TB have been lengthy, complex, and often involved painful injections. This has hindered treatment adherence and contributed to the spread of the disease. In response to this urgent need... Read More...

INDIA’S CRITICAL MINERALS DIPLOMACY

Sep 06, 2024

INDIA’S CRITICAL MINERALS DIPLOMACY The Economic Survey of 2023-24 highlighted India’s significant reliance on China for critical minerals as a critical vulnerability. To address this, the Indian government introduced the Critical Mineral Mission, as announced by the Finance Minister in the 2024 Budget speech. The mission focuses on domestic production, recycling, and overseas acquisition, emphasizing the need for a diversified supply chain to support India’s ambitions in renewable energy and electric vehicles. China’s Dominance in Critical Minerals China’s control over critical minerals has become more... Read More...

ASTHENOSPHERE: KEY LAYER OF EARTH’S MANTLE

Sep 06, 2024

ASTHENOSPHERE: KEY LAYER OF EARTH’S MANTLE The asthenosphere is a crucial, yet less visible layer of Earth’s mantle that lies beneath the lithosphere, the planet’s rigid outer layer. This infographic explains what the asthenosphere is and why it’s important. Here are some additional details and commonly asked questions to deepen the understanding of Earth’s structural layers. What is the asthenosphere made of? The asthenosphere consists of solid rock that behaves plastically due to high temperatures and pressures. This semi-fluid like behavior allows the rocks to flow slowly, which is critical for the movemen... Read More...