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Daily Current Affairs 6 july, 2024 (1)

daily current affairs

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Daily Current Affairs 6 july, 2024 (1)

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  1. DAILY CURRENT AFFAIRS July8,2024 ECONOMICS(MAINS) African Swine Fever bacon. Therefore, human behaviors can play an important role in spreading this pig disease across borders if adequate measures are not taken. Context Increasing cases of swine fever which are being reported in Trissur, Kerala. Impact of African Swine Fever on Economy About There is an outbreak of African swine fever in the Trissur district of Kerala. This led to an order by the district administration to cull the pigs. Impact on Livelihood ●Pigs are a primary source of household income in many countries across the globe. The spread of ASF across the world impacts the economy of family- run pig farms. ●It impacts economic well being of marginalized communities which in turn reduce opportunities to access healthcare and education. African Swine Fever ●African swine fever is a highly contagious viral disease prevalent among both domestic and wild pigs. The mortality rate in this disease can reach 100%. ●Although, it is not a danger to human health, but it has devastating effects on pig populations and the farming economy. ●The virus is highly resistant in the environment, meaning that it can survive on clothes, boots, wheels, and other materials. ●It can also survive in various pork products, such as ham, sausages Impact on Nutrition African swine fever can also impact the biodiversity and the balance of ecosystems. It affects not only domestic farmed pigs, but also wild boars, including native breeds. Source: The Hindu

  2. Science and Technology(PRELIMS) Axiom-4 Mission Context •There are four trained astronauts which have been shortlisted for this mission. •Out of these shortlisted astronauts, the Indian Organisation shortlisted two astronauts to go to International Space Station on boarding Axiom-4 Mission. They will get training as per international standards. Source: The Indian Express Axiom-4 mission will take the Indian astronauts chosen for Gaganyan Mission to the International Space Station (ISS). Space (ISRO) Research has About ●The Axiom-4 mission is the fourth private astronaut mission of NASA and a private US company Axiom Space. It will take the Indian astronauts to the International Space Station (ISS). ●The mission is expected to dock with the ISS for fourteen days. The Astronauts will train with NASA, international partners, and SpaceX for their flight. ●Axiom Space, a private entity has contracted SpaceX as launch provider for transportation to and from the space station. ●It will also familiarize the private astronauts with systems, procedures, and emergency preparedness for the Dragon spacecraft. Indian Astronauts Visiting ISS ●India will send its first manned mission into the space called Gaganyaan Mission.

  3. ECONOMICS(PRELIMS) paid or given money, the transaction is counted as a debit. ●The BoP shows how much money (shown here in billions of US dollars) went out of the country and how much money came in. ●All the money coming into the country is marked positive and all the money going out is marked negative. ●The BoP captures the relative demand of the rupee vis-à-vis the demand for foreign currencies (represented in dollar terms). ●The BoP has two main ‘accounts’. These are India’s Current Account Registered a Surplus Context India has witnessed Current Account Surplus for the first time after 11 quarters. About ●According to The Reserve Bank of India (RBI), India’s current account registered a surplus during the fourth quarter (Jan- Mar) of the 2023-24 financial year. ●It was the first time in 11 quarters that India had witnessed a surplus in its Current Account. A.Current Account, and B.Capital Account. What is ‘Balance of Payments? A.Current Account ●The balance of payments is how a country tracks how much money is coming in and going out. ●It is the method countries use to monitor all international monetary transactions in a specific period. The BOP is usually calculated every quarter and every calendar year. ●All trades conducted by both the private and public sectors are accounted for in the BOP to determine how much money is going in and out of a country. ●If a country has received money, this is known as a credit, and if a country has The current account is an element of international financial system. It records a nation's transactions with the rest of the world, specifically its net trade in goods and services, its net earnings on cross-border investments, and its net transfer payments. It is calculated over a defined period of a time generally a year or a quarter.

  4. Components of Current Account ●Income is the money going in (credit) or out (debit) of a country from salaries, portfolio investments (in the form of dividends, for investments, or any other type of investment. ●Together, goods, services, and income provide an economy with fuel to function. This means that items under these categories are actual resources that are transferred to and from a country for economic production. The four major components of a current account are: example), direct 1)Goods, 2)Services, 3)Income, and 4)Current Transfers. 1.Goods ●These are movable and physical in nature. For a transaction to be recorded under "goods," a change of ownership from or to a resident (of the local country) to or from a non-resident (in a foreign country) has to take place. ●Movable goods merchandise, goods processing other goods, and non- monetary gold. ●An export is marked as a credit (money coming in), and an import is noted as a debit (money going out). 4.Current Transfers ●Current transfers are unilateral transfers with nothing received in return. These include workers' remittances, donations, aids and grants, official assistance, and pensions. ●Due to their nature, current transfers are not considered real resources that affect economic production. general include used for B. Capital Account 2.Services ●These transactions result from an intangible action, transportation, tourism, royalties, or licensing. ●If money is being paid for a service, it is recorded as an import (a debit). If money is received, it is recorded as an export (credit). The capital account captures transactions which are about investments, such as Foreign Direct Investment (FDI) and Foreign Institutional Investments (FII). such as business services, How has India achieved a ‘Surplus’ Current Account in Fourth Qurter? ●India’s Current Account Surplus stands at 0.7% in the fourth quarter. It has achieved a surplus of $5.7 billion, which equates to 0.6 per cent of its gross 3.Income

  5. domestic product (GDP) in the fourth quarter of fiscal year 2024. ●It is a shift from the $8.7 billion deficit (1.0 per cent of GDP) reported in the third quarter. ●There was a $1.3 billion deficit (0.2 per cent of GDP) in the fourth quarter of the previous fiscal year. Reasons Behind Surplus ●Narrowing Merchandise Trade Deficit, ●Increased Services Trade Surplus, and ●A Rise in Remittances.

  6. GEOGRAPHY(PRELIMS) ●Six months later, Earth reaches perihelion which is the point at which it is closest to the Sun. ●At perihelion, the distance between Earth and the Sun is roughly 147.1 million km. Earth reaches Perihelion in early January, APHELION Context Earth Reaches Aphelion Every July. Earth reached Aphelion on 5th July this year. About ●Aphelion is the point in the orbit of a planet, comet, or other body when it is most distant from the Sun. ●Aphelion is the result elliptical orbit around which it revolves around the Sun rather than circular. ●At aphelion, Earth’s distance from the Sun is about 152.1 million km

  7. QUESTIONS Which of the following statements is/are Correct? 1.Discuss the components of ‘Balance of Payment’ and ‘Current Account’. A. One Only B. Two Only 2.Consider the following statements with reference to African Swine Fever; C. All Three 1) It is prevalent among both domestic and wild pigs. D. None Answer: B 2) It’s Virus can survive on clothes, boots, wheels, and other materials. 3) It is not a danger to human health. 4.Consider the following statements with reference to Aphelion and Perihelion: Which of the following statements is/are Correct? 1) During Aphelion, the distance between the Moon and the Earth is highest. A. One Only B. Two Only 2) During Perihelion, the distance between the Moon and the Earth is least. C. All Three 3) Aphelion occurs in the month of Jul every year. D. None Answer: C Which of the following statements is/are Correct? 3.Consider the following statements with respect to the Axiom-4 Mission: A. One Only B. Two Only 1) It is a part of Gaganyaan Mission. C. All Three 2) It will take the Astronauts chosen for Gaganyaan Mission to International Space Station. D. None Answer: A 3) It will be launched by NASA and ISRO together.

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