20 Dec 2023

#GS3: -01. India major driver of world growth

India a “star performer” that is seen accounting for more than 16% of global growth this year. The government’s focus on capitals pending even as the budget is tightened has been lauded, as has our digital public infra structure, which the IMF notes has significant potential to help raise total factor productivity. Still, external challenges remain. Not ably ,the IMF reclassified India’s exchange rate regime as a “stabilized arrangement” from a “floating” one. This is in response to what may have looked like heavy central bank intervention to manage the rupee’s dollar value, with restricted movement observed fromDecember2022toOctober 2023.India has had a managed Float aimed at excessive volatility containment. This isn’t currency manipulation. It’s a key part of India’s approach to resolving a macro trilemma, that’s all.

While as harp global Growth slowdown in the near term could affect India’s trade and finance, the restrictive trade policy practices employed by the South Asian country should be phased out to improve its investment climate.
-International Monetary Fund(IMF
Key Terms/Issues : Managed Float, Macrotrilemma

#GS3: – 02. Air Pollution

.A large number of Tier-II and Tier-III cities in India have air pollution that goes past the safe limit. An average Delhiite will gain 8+ years in life from breathing better air.

For northern India, winter is when poor air quality rules the headlines. In Delhi, pollution reaches nearly 100times the global safe limit, leading to eye wate ring smog, taking it to the list of the most polluted cities globally. But while bad air may come across as a metro-city problem for much of the year, and a north- Indian problem in early winter, that’s only the tip of the iceberg.
– Commentary in News

#GS2: -03. Russia-Ukraine War

The war in Ukraine has snapped imports of a key radioactive isotope used in advanced cancer treatment, prompting top medical institutions in the country to look for less effective alternatives.

Actinium is not available for the last one year, since the war between Russia and Ukraine started. Russia is the hub of world’s radio-nuclides. Unfortunately, Russia has got the raw material but does not make the final product. It is procured by Germany and from there, it is shipped to all other countries including India.
-Neeraj Mittal, telecom secretary,
Key Terms/Issues : Actinium

#GS3: – 04. Suspension of MPs

They had agreed not to bring placards. They are frustrated with their loss, so taking such steps. These people will not
come back in the House next time if this behaviour continues. They Are insulting the chair and the people of India by bringing placards. -Parliamentary affairs minister Prahlad Joshi
The suspension of a total of 141 Opposition MPs from Parliament rein force sour charge that an autocratic BJP wants
to demolish democracy in this country. We all know that key Bills like the Criminal Law Amendments, which un leash draconian Powers and impede citizen’s Rights, are Listed. -RS LoP Mallikarjun Kharge

#GS1: – 05. Tensions in Red Sea

Indian exporters are staring at a rise in shipping costs as freight lines are forced to avoid the Suez Canal and take a longer route around Africa to reach the West following tensions in the Red Sea.

The alternative route around the Cape of Good Hope could increase shipping time between Mundra and Rotterdam by a third, experts said, adding that freight rates are likely to go up.
-Commentary in News
Key Terms/Issues : Suez Canal, Red Sea, Cape of Good Hope

#GS2: -06. Over-Invoicing

CBI and the directorate of revenue Intelligence (DRI) to “meticulously and expeditiously” look in to allegations of Over in voicing of imports by various power generating companies in India, including the Adani Group and the Essar Group, to ascertain The factual position and take appropriate action Against the erring firms.
-Delhi HC

#GS2: -07. Remittances

India saw the highest amount of remittance in flows in the world in 2023 at $125 billion, driven by several factors, including the country’s agreement with the UAE, for promoting the use of dirhams and rupees for bilateral Trade. Remittances are expected to increase by $14 billion and rise to $125 billionin2023,increasing India’s share in South Asian remittances to 66% in 2023 from 63% in 2022
-World Bank

#Essay: -08. Liberty vs Safety

They who can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety.?
-Benjamin Franklin