1 / 11

DOC-20241010-WA0009.

daily current affairs

avadhojha
Download Presentation

DOC-20241010-WA0009.

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Prelims General Studies III Economy Monetary Policy Review Context Recently, the Reserve Bank of India released its bi-monthly Monetary Policy Committee Review. Prelims 1. Consider the following statements with reference to the Monetary Policy Committee: 1) It is headed by the Finance Minister of India. 2) The MPC is liable for containing inflation and preparing the budget. 3) It has been constituted under the provisions of the RBI Act, 1934. Which of the following statement (s) is/are correct?

  2. A. 1 and 3 only B. 1 and 2 Only C. 3 Only D. 1, 2 and 3 Answer: C About ● The Reserve Bank of India (RBI) maintained its benchmark interest rate at 6.5% for the 10th successive monetary policy review since April 2023. ● Out of Six members of the Monetary Policy Committee (MPC), five members voted in favour of maintaining the benchmark interest rate unchanged. ● The central bank usually conducts six scheduled reviews every year, one each in April, June, August, October, December, and February. ● Besides, it also conducts out-of-cycle reviews to address sudden changes in economic conditions that warrant urgent monetary policy action. Highlights of Monetary Policy Committee Statement Macroeconomic Parameters ● According to the MPC committee, the macroeconomic parameters of inflation and growth are well balanced. ● It has also been noted that the action is expected to remain elevated during September and October. ● The committee has hoped that the consumer price index is likely to soften in the months ahead.

  3. ● Risk of Inflation: There is speculation of a rise in inflation in the future due to adverse weather conditions and geopolitical conflicts. ● It has kept the inflation projection at Inflation Projection for FY25 retained at 4.5 %. Benchmark Interest Rate ● Although the Benchmark Interest Rate has been kept unchanged by the committee, it has indicated cutting down the interest rate in future. ● According to MPC, it is laying the groundwork for its first interest rate cut in four years. Thus, it has shown that inflation will be in the coming months. Growth Projections Following are the different growth projections which were highlighted by the MPC: New Initiatives Announced by RBI

  4. Monetary Policy Committee (MPC) ● The Monetary Policy Committee (MPC) is a statutory body which has been constituted under Section 45ZB of the Reserve Bank of India (RBI) Act, 1934. ● It is a six-member committee which determines the Policy Interest Rate to achieve the inflation target in the band of 4 Plus 2 or Minus 2. ● It means the consumer price index (CPI) should be between 2% and 6%, with 4% being the target. ● Following are the members of the committee. Sources: The Hindu, Economic Times

  5. Prelims General Studies III Environment Living Planet Report, 2024 Context Recently, the World Wide Fund (WWF) for Nature released its biennial Living Planet Report in 2024. Prelims 1. The ‘Living Planet Report’ is published by which of the following agencies? A. World Wide Fund for Nature B. United Nations Environment Program (UNEP) C. World Health Organization D. World Economic Forum Answer: A About

  6. ● The previous report published two years back measured a decline of 69% in wildlife. Highlights of the Report ● The report has been prepared based on almost 35,000 population trends of 5,495 species from 1970-2020. The data has been obtained from the Zoological Society of London. Trends in Population Decline ● The sharpest decline in the population has been reported in freshwater ecosystems at 85%, followed by terrestrial ecosystems at 69% and marine ecosystems at 56%.

  7. Distress Call By Nature ● The report has noted that a decline in wildlife populations can act as an early warning indicator of increasing extinction risk and the potential loss of healthy ecosystems. ● It has termed the declining trend as a ‘Distress Call by Nature’. Need for a “Collective Effort” ● The report has highlighted that there is a need for a “collective effort” over the next five years to tackle the dual climate and nature crises. ● It has been anticipated that climate change and crisis in nature have been pushing wildlife and ecosystems beyond their limits, with dangerous global tipping points. ● It will further threaten to damage Earth’s life-support systems and destabilize societies. Conclusion The ever-increasing population has increased the stress on ecosystems and natural resources. It has led to the destruction of wildlife habitats and the over-exploitation of natural resources. Further, climate change has led to uneven rainfall, and floods have led to lower productivity in agriculture. Hence, there is a need to make a ‘Collective Effort’ to check the declining numbers of wildlife species. Sources: The Hindu

  8. Prelims International Events/ International Relations General Studies I ‘Study in India’ Campaign Context Recently, India launched the ‘Study in India’ campaign at the International Education Show in Sharjah. About ● India launched the ‘Study in India’ campaign at the 20thInternational Education Show in Sharjah. ● The event featured over 100 universities and educational institutions from more than 20 countries such as India, Canada, the UK, Bahrain, Malaysia, Cyprus etc. ● The campaign marked a significant push to attract international students to Indian Universities. ● This Campaign was organized by EdCIL (India) Limited which is a Miniratna company under the Ministry of Education. ● The ‘Study in India’ programme has already attracted over 69,000 students for the 2024-25 academic year, with 4,000 students having already arrived in India. The objective of the Campaign ● The campaign seeks to position India as a leading global education hub. The campaign showcased over 590 Indian universities and institutions. ● Fee Waivers and Scholarships: These universities offer a variety of courses and exclusive benefits such as fee waivers and scholarships for international students.

  9. State of India’s Higher Education Sector ● India’s higher education sector has been ranked as the second largest in the world. ● Many universities in India have been placed in good positions in the global rankings. ● These factors have made India an attractive destination for students seeking affordable, high-quality education. ● India is home to renowned institutions such as Indian Institutes of Technology (IITs), National Institutes of Technology (NITs), Indian Institutes of Management (IIMs), and other centrally funded institutions. Source: News on AIR Prelims General Studies III Economy National Maritime Heritage Complex (NMHC) Context Recently, the Union Cabinet sanctioned the plan for the building of the National Maritime Heritage Complex (NMHC). Prelims 1. Consider the following statements with reference to the ancient port city of Lothal: 1) It is located in Maharashtra. 2) The port city was operational during the Gupta Period. 3) The Central Government has sanctioned the building of a ‘ National Maritime Heritage

  10. Complex’ at Lothal. Which of the following statement (s) is/are correct? A. 1 and 3 only B. 1 and 2 Only C. 3 Only D. 1, 2 and 3 Answer: C About ● The plan to build the National Maritime Heritage Complex (NMHC) in Lothal, Gujarat was sanctioned by the Union Cabinet. ● It is anticipated to become the largest maritime heritage complex in the world. It aims to highlight India’s rich maritime history.

  11. Importance of Lothal in Indian History ● Lothal was a Port City in the Indus Valley Civilization and was one of the major urban centres of the civilization. It was important for the following reasons: Trade Centre ● It was a thriving trade centre that exported beads, gems, and ornaments to West Asia and Africa. ● The artisans of the city were known for their craftsmanship, and their bead-making and metallurgy techniques. Dockyard ● The presence of a well-preserved tidal dockyard in the city makes it important in world history as it is considered the world's oldest known artificial dock. Presence of Fire Altars ● Fire altars have been found by the archeologists in the port city of Lothal which indicates that the city's inhabitants worshipped a fire god. Sources: Ancient Indian History, The Financial Express

More Related