UPSC Daily Current Affairs

Internationalisation of the Rupee

Sep 13, 2023

Rupee Goes Global: The Story So Far As the world comes closer together, different countries' money starts to mix and mingle. The Indian Rupee, or INR, is starting to step outside of India and become a part of this global mix. We've seen some exciting things happening recently — from setting up special bank accounts in rupees to even buying oil with rupees instead of dollars. Let's break down this journey step by step: Special Rupee Bank Accounts The Reserve Bank of India (RBI) gave a thumbs up to 60 banks in 18 countries to s... Read More...

Italy say Goodbye to BRI

Sep 13, 2023

What is the BRI? The Belt and Road Initiative (BRI) is a massive project started by China in 2013. The plan is to better link China with various countries across Asia, Africa, and Europe through networks of trade routes on land and sea, reminiscent of the ancient Silk Road. Why Didn't India Join? India chose not to join mainly because a part of the BRI, the China-Pakistan Economic Corridor, passes through territory claimed by India, raising sovereignty concerns. Furthermore, India raised issues regarding the transparency and fiscal respons... Read More...

Freebies,Welfare and Development:Examples and Arguments

Sep 13, 2023

Freebie: A government policy or program that provides goods, services, or benefits to people at no cost, often seen as a means to garner political favor. Welfare: A policy aimed at protecting and promoting the economic and social well-being of its citizens, often through financial or other resources. Deveopment: A strategy or policy aiming at the economic growth and advancement of a state or region, generally involving infrastructure development, educational advanceme... Read More...

Farmer Producer Organizations (FPOs):All that the UPSC Aspirant Should Know

Sep 13, 2023

Overview of Farmer Producer Organizations (FPOs) Farmer Producer Organizations (FPOs) are collective entities formed by farmers to address common challenges and improve their overall socio-economic conditions. These organizations function as cooperatives or associations and are aimed at enhancing the livelihoods of small and marginal farmers. Formation and Purpose Farmers voluntarily come together to create FPOs. The primary purpose is to empower smallholders by pooling resources, knowledge, and skills. FPOs strive to achieve economies of scal... Read More...

Land Subsidence and Joshimath

Sep 13, 2023

What Is Land Subsidence? Land subsidence is a gradual and intriguing natural phenomenon. It involves the slow descent or settling of the Earth's surface, resulting in a gradual lowering of the ground level. This intriguing process occurs when the layers of soil or rock beneath the surface undergo compression or compaction, causing the land above to gently sink. The causes of land subsidence can vary, encompassing both natural occurrences and those driven by human activities. Natural Causes of Land Subsidence: In some instances, land subsid... Read More...

India-China Border

Sep 13, 2023

China's Build-up, India's Response and Strategic Implications 1. What has been China's recent activity in the India-China border region? China has been involved in significant infrastructure development, including roads, railways, airfields, and military installations along the India-China border region. This includes areas like Tibet, Aksai Chin, Depsang Plains, Galwan Valley, and Pangong Tso. 2. How is India responding to China's actions along the border? India has initiated a compre... Read More...

Edible Oil Economy of India

Sep 13, 2023

Oilseeds and Edible Oil Overview: Oilseeds: Crops grown for edible oil extraction. Variety: Soybeans, groundnuts, sunflower, mustard seeds, palm kernels. Essential for Indian cuisine. Production and Demand: Crucial Role: India's oilseed production meets edible oil demand. Influencing Factors: Weather, soil quality, agricultural ... Read More...

Global Digital Economy, Sovereign Tax Reforms and India

Sep 13, 2023

1. What is the OECD's BEPS initiative? The OECD's BEPS (Base Erosion and Profit Shifting) initiative is a global effort to combat tax avoidance strategies employed by multinational corporations (MNCs). It aims to ensure that companies pay taxes in the countries where they generate profits, preventing the shifting of profits to low-tax jurisdictions. 2. Read More...

India-UK:Infrastructure Financing Bridge

Sep 13, 2023

An infrastructure financing bridge is a collaborative initiative between India and the UK aimed at planning and implementing major infrastructure projects. In this context: Niti Aayog: Niti Aayog is a policy think tank of the Indian government responsible for formulating and guiding policies and initiatives in various sectors, including infrastructure development. City of London Corporation: The City of London Corporation represents the governing body of the historic center of London, known as the "City of London." It pl... Read More...

National Common Mobility Card (NCMC): Simplified

Sep 13, 2023

Imagine having a single card that allows you to effortlessly access metros, buses, trains, and make retail payments without the hassle of multiple cards or cash. That's the idea behind the National Common Mobility Card (NCMC), introduced in 2019 in India. What is NCMC? One Card for Everything: NCMC is a contactless card designed to serve as a universal payment method for various modes of transportation, including metros, buses, and trains, as well as for everyday retail purchases. How It W... Read More...

RBI's Regulating Fintechs: Self-Regulatory Organisation(SRO)

Sep 13, 2023

In a proactive move, the Reserve Bank of India (RBI) has proposed that fintech companies establish a self-regulatory organization (SRO), a move widely regarded as a step in the right direction. The burgeoning fintech sector has rapidly empowered tens of millions of low-income individuals by affording them easier access to the formal economy. However, it currently operates in a regulatory gray area. Establishing an SRO would mean the first step towards implementing ethical standards within the industry. Fintech's Vital Role in the Economy Fintech com... Read More...

G20 Summit's Integrated Skills-Based Migration Pathways

Sep 13, 2023

What is the Integrated Skills-Based Migration Pathways initiative? The initiative aims to expand job opportunities globally for skilled professionals. It encourages the movement of skilled professionals between origin and destination countries, addressing global skill gaps and promoting the formalization of the workforce. This would be a sustainable method to finance social protection for all workers. How does this initiative benefit both the origin and destination countries? Leaders at the G20 summ... Read More...

India-Middle East-Europe Connectivity Corridor

Sep 12, 2023

A Revolutionary Connectivity Corridor Unveiled Question: What's the importance of the groundbreaking India-Middle East-Europe connectivity corridor announced at the G20 Summit? Answer: It's a game-changer! India, the United States, Saudi Arabia, and the European Union joined forces to introduce a historic shipping and railway connectivity corridor. This mega initiative promises to reshape global connectivity and infrastructure. Key Highlights: Connectivity for All:This transformat... Read More...

Biofortified Food and Its Relevance in India:POSHAN Abhiyaan

Sep 12, 2023

Introduction: Nutritional well-being has gained significant attention globally, with more than half of the world's population suffering from malnutrition, including India. This FAQ discusses the concept of biofortified food and its relevance in addressing malnutrition in India. 1. What is Biofortification? Biofortification is a process that enhances the nutritional quality of crops through genetic manipulation, including breeding and transgenic approaches. The goal is to increase the density of essential micronutrients such as vitamins and... Read More...

Crackdown on Drugs in Punjab: Targeting Big Traffickers

Sep 12, 2023

Introduction: The Punjab government's ambitious campaign to eliminate drug addiction in the state within a year is showing signs of progress. Law enforcement authorities are shifting their focus from targeting small-scale peddlers to cracking down on major drug traffickers responsible for smuggling large quantities of contraband. This shift in strategy, along with the challenges posed by cross-border drug smuggling, is discussed in this analysis. 1. Multi-Pronged Strategy: Punjab police have adopted a multi-pronged strategy to apprehend significant drug traffickers. This app... Read More...