UPSC Daily Current Affairs

Gold Price Rise: Geopolitical Uncertainty and Dollar Diversification

Jun 22, 2024

Gold prices have surged to new heights amid rising geopolitical uncertainties and a strategic shift away from the US dollar. The World Bank’s April 2024 edition of the Commodity Market Outlook provides a detailed analysis of these trends and their implications. KEY FACTORS DRIVING THE GOLD PRICE INCREASE 1. Geopolitical Tensions: • Gold reached an all-time nominal high of $2,331 per troy ounce in April 2024. • Heightened geopolitical tensions have increased... Read More...

HISTORY OF LOK SABHA SPEAKER ELECTIONS IN INDIA

Jun 22, 2024

The post of Speaker of the Lok Sabha has historically seen consensus rather than contest. Here’s a detailed look at the history and process of electing the Lok Sabha Speaker since India’s independence. EARLY HISTORY AND PRE-INDEPENDENCE ERA The post of Speaker of the Central Legislative Assembly, the lower house of the Imperial Legislative Council in British India, was contested six times between 1925 and 1946: • 1925: Vitthalbhai J Patel of the Swaraj Party won the first elect... Read More...

India-US Collaboration on Semiconductors and Critical Minerals

Jun 22, 2024

India and the United States have deepened their cooperation on supply chains, semiconductors, and critical minerals during the India-US initiative on Critical and Emerging Technology (iCET) meeting held in New Delhi. This strategic partnership aims to bolster both nations’ technological and industrial capabilities and is further reinforced by their collaboration within the Indo-Pacific Economic Framework (IPEF). KEY HIGHLIGHTS OF THE MEETING 1. Strategic Semiconductor Partnership: • A new ... Read More...

SURAT’ TO JOIN INDIAN NAVY’S FLEET

Jun 22, 2024

A newly constructed naval ship named ‘Surat,’ equipped with cutting-edge technology, is set to become the next significant combatant in the Indian Navy’s fleet. The Navy shared images of this advanced vessel in a post on X on Monday. KEY FEATURES OF ‘SURAT’ 1. Advanced Technology: Constructed using state-of-the-art technology by Mazagon Dock Shipbuilders Limited, ‘Surat’ showcases the latest advancements in naval engineering. Read More...

De-Dollarisation and BRICS

Jun 22, 2024

SHIFTING GLOBAL MONETARY ORDER: IMPACT OF BRICS AND LOCAL CURRENCIES The global economic landscape is experiencing significant shifts as countries explore alternatives to the longstanding US dollar dominance. This movement is largely fueled by the end of the petrodollar agreement between the US and Saudi Arabia, which has historically reinforced the dollar’s supremacy. As Saudi Arabia considers selling oil in currencies other than the US dollar, questions arise about the future of the dollar’s hegemony. Read More...

Evolution of Government Approach to NRIs and PIOs

Jun 22, 2024

The approach of the Indian government towards its diaspora has significantly evolved from Jawaharlal Nehru’s era of “active dissociation” to Narendra Modi’s proactive outreach. This transformation reflects broader changes in global connectivity and India’s strategic interests. Historical Context: • Nehru’s Era: Initially, India’s nationalism was territorially bound. The government maintained a passive stance regarding the diaspora, often viewing them a... Read More...

Evolution of Interest Rate Benchmarks in India: Simplifier

Jun 22, 2024

PLR,Base Rate,MCLR and EBLR Q1: What is the Prime Lending Rate (PLR)? A1: The PLR was the original benchmark interest rate that financial institutions charged their most creditworthy customers. However, it lacked transparency and allowed for discriminatory pricing. Q2: Why was the Base Rate introduced? A2: Introduced in 2010, the base rate system aimed to create a minimum interest rate for most borrowers, ensuring greater fairn... Read More...

Direct Seeded Rice (DSR) in Punjab: Challenges and Benefits

Jun 22, 2024

Introduction to DSR: Direct Seeded Rice (DSR) is an innovative technique of sowing paddy seeds that uses less water and labor compared to traditional transplanting methods. Despite its advantages, DSR has not gained widespread popularity in Punjab. Current Adoption: In the previous year, only 1.73 lakh acres out of 79 lakh acres under paddy cultivation in Punjab were sown using DSR, representing a mere 2%. The government’s target is to... Read More...

G7 SUMMIT’S FOCUS ON THE GLOBAL SOUTH

Jun 22, 2024

What was the main focus of the Apulia G7 Summit? The main focus of the Apulia G7 Summit was to address systemic risks posed by the Russia-China alliance, strengthen coordination against Russia, and enhance outreach to the Global South, particularly Africa. Why is Africa significant to the G7 Summit? Africa is central to addressing global challenges such as climate change and migration. The G7 aims to invest in sustainable development in Africa and counter illicit ac... Read More...

Predicate Offenses: Prevention of Money Laundering Act (PMLA)

Jun 22, 2024

A predicate offense is a criminal activity that leads to illegal gains and serves as the basis for money laundering. The Prevention of Money Laundering Act (PMLA) designates specific offenses as predicate offenses, which are listed in a schedule divided into three parts: Part A, Part B, and Part C. The aim of identifying predicate offenses is to curb both illicitly gained wealth and legally acquired income that is concealed from public authorities. Purpose of Predicate Offenses: • To identify and prevent the concealment ... Read More...

COVID-19 Origins: Lab Leak Hypothesis and Beyond

Jun 22, 2024

The origins of the Covid-19 pandemic have been a topic of intense scrutiny and debate. Uncovering how the virus that caused this global catastrophe emerged is crucial for preventing future pandemics and enhancing global health security. There are two primary scenarios considered for the origin of SARS-CoV-2: 1. Natural Zoonosis Hypothesis: This widely accepted theory suggests that the virus was transmitted from animals to humans. It is believed that SARS-CoV-2 originated in bats and possibly passed through an intermediate host before infecting humans. This pattern is consistent with... Read More...

SUSTAINABLE DEVELOPMENT GOALS

Jun 22, 2024

SDG 6: Clean Water and Sanitation Introduction: SDG 6 aims to ensure everyone has access to clean water and sanitation by 2030, with further climate resilience goals by 2050. This FAQ addresses common questions about India's progress and challenges in achieving this goal. Q1: What is the current status of clean water and sanitation in India? A: India has made signific... Read More...

Sustainable Development Goal 7: Affordable and Clean Energy

Jun 21, 2024

Ensuring access to affordable, reliable, sustainable, and modern energy is essential for global development. Goal 7 of the Sustainable Development Goals (SDGs) focuses on providing clean and affordable energy to all, which is crucial for the advancement of agriculture, business, communications, education, healthcare, and transportation. Global Targets by 2030: • Achieve universal access to affordable, reliable, and modern energy services. • Triple renewable energy capacity. • Double ann... Read More...

SDG 11: SUSTAINABLE CITIES AND COMMUNITIES IN INDIA

Jun 21, 2024

Basics of Sustainable Cities and Communities Sustainable Development Goal 11 (SDG 11) aims to make cities and human settlements inclusive, safe, resilient, and sustainable. This goal encompasses various targets, including ensuring access to adequate housing and basic services, improving urban living conditions, and enhancing urban sustainability. Key Targets for SDG 11 Access to Adequate, Safe, and Affordable Housing and Basic Services Read More...

INDIAN DIASPORA IN SOUTH AFRICA: Simplifier

Jun 21, 2024

How significant is the Indian population in South Africa? The Indian population in South Africa is about 1.5 million people. They are descendants of indentured laborers and free migrants from British India during the late 1800s and early 1900s. Where do most Indian South Africans live? The majority of Indian South Africans live in and around the city of Durban, making it one of the largest ethnically Indian-populated cities outside of India. Read More...