UPSC Daily Current Affairs

Windfall Taxes:Basics,Merits and Demerits

Aug 19, 2023

A windfall tax is a special type of levy that targets unexpectedly high profits earned by specific companies or industries due to external factors. Unlike regular taxes, windfall taxes are imposed during times of unusual profitability. These taxes aim to capture excess profits for public benefit and address income inequality during economic disparities. However, windfall taxes have sparked both support and criticism due to their potential impacts on businesses and the economy. This discussion will delve into the pros and cons of windfall taxes, shedding light on their effects on industries, economic behavior, and societal well-being. Read More...

Foxconn's Expansion Strategy in India: Challenges and Opportunities

Aug 19, 2023

1. "China Plus One" Strategy Drives Expansion: Amid supply chain disruptions and geopolitical tensions, global electronics manufacturer Foxconn is pushing to diversify its operations away from its heavy reliance on China. This approach, known as the "China plus one" strategy, aims to establish production bases in countries like India to mitigate risks and secure new markets. 2. Recent Moves in India: Foxconn, the manufacturer of iPhones and other electronics, is intensifying its efforts to invest in India. It has started co... Read More...

Social Stock Exchange (SSE): Understanding the Basics

Aug 19, 2023

1. What is the Social Stock Exchange (SSE)? The Social Stock Exchange (SSE) is a regulated platform established to facilitate organizations dedicated to social causes in raising funds and accessing capital through stock exchanges. 2. What is the purpose of SSE? The SSE serves as a meeting ground for donors and social enterprises, allowing organizations to raise funds for their social initiatives while providing investors with the opportunity to support impactful projects. 3. What benefits are sought ... Read More...

Gender Equality in India: Progress and Challenges

Aug 19, 2023

1. What is the status of women's education and employment in India? Government data analysis reveals that women in India are less likely to receive education and secure employment compared to men. Many women have never used the internet, and the gender gap persists as a significant issue in the country. 2. What did Prime Minister Narendra Modi mention in his Independence Day speech? In his Independence Day speech, Prime Minister Narendra Modi highlighted areas of improvement in gender equality. He pointed out that India has a higher percen... Read More...

Income-based and Consumption-based Estimates of Poverty in India:

Aug 19, 2023

Pros and Cons Income-Based Estimates: Pros: 1. Widely Accepted: Using income as a measure of poverty is widely accepted and understood by policymakers, researchers, and the general public. It's a straightforward way to assess economic well-being. 2. Direct Measure: Income-based estimates directly reflect a household's economic resources. It provides an indication of a family's ability to meet basic needs and engage in economic activities. Read More...

CSIR-National Botanical Research Institute Introduces 'Namoh 108' Lotus Variety

Aug 19, 2023

The CSIR-National Botanical Research Institute (NBRI) has unveiled an improved variety of the national flower Lotus, named 'Namoh 108,' as a dedication to the country on the occasion of the 77th Independence Day. This new variety features 108 petals and has undergone technological intervention by NBRI to enhance its characteristics. Key Features of 'Namoh 108' Lotus Variety: 1. Enhanced Resilience: The improvised 'Namoh 108' Lotus variety is more resilient to varying weather conditions, making it better e... Read More...

Government Health Schemes in India:Jan Aushadhi Kendras

Aug 19, 2023

1. What is the Pradhan Mantri Jan Arogya Yojana? The Pradhan Mantri Jan Arogya Yojana, also known as Ayushman Bharat, is a government health insurance scheme launched in September 2018. It provides cashless hospitalization services of up to ₹5 lakh to approximately 12.5 crore families, covering a wide range of medical treatments and procedures. 2. What is the second component of the scheme? The second component of the scheme involves the establishment of health and wellness centers. These centers aim to upgrade primary health centers to prov... Read More...

Understanding Green Hydrogen

Aug 19, 2023

1. What is Green Hydrogen? Green hydrogen, often referred to as renewable hydrogen, is produced through the process of electrolysis using renewable energy sources such as solar or wind power. It involves splitting water into hydrogen and oxygen, with the hydrogen being used as a clean and sustainable energy carrier. 2. How is Green Hydrogen Produced? Green hydrogen is produced through electrolysis, where an electric current is passed through water (H2O) to break it down into hydrogen (H2) and oxygen (O2). This process requires renewable energy... Read More...

NSE Emerge and BSE SME Platforms

Aug 19, 2023

1. What are NSE Emerge and BSE SME Platforms? NSE Emerge and BSE SME platforms are dedicated stock exchanges specifically designed for small and medium-sized enterprises (SMEs) to list their shares and raise capital through initial public offerings (IPOs). These platforms provide a regulated and organized marketplace for SMEs to access funding from the public. 2. Why has there been a surge in SME IPOs on NSE Emerge and BSE SME Platforms? There has been a notable increase in SME IPOs on these platforms due to various factors. The attractive val... Read More...

Core Inflation:July 2023

Aug 19, 2023

1. What is core inflation? Core inflation refers to the inflation rate calculated without considering the impact of food and energy prices. It provides insight into the underlying inflation trend and helps identify broader economic factors influencing inflation. 2. What was the core inflation rate in July? In July, core inflation stood at 4.9%, down from 5.1% in June. This decline in core inflation is seen as positive, but economists suggest that it may remain elevated in the upcoming months. 3. How ... Read More...

Food Inflation: impact of Vegetable Inflation on Retail Inflation

Aug 19, 2023

1. What caused the surge in retail inflation in India? A surge in vegetable prices, particularly tomatoes, led to a 42-month high in retail inflation. This unexpected increase pushed the headline retail inflation figure beyond 7%, marking the first time in almost a year. 2. How much of the shift in Consumer Price Index (CPI) was attributed to vegetables? Around one-third (32%) of the year-on-year shift in CPI for July resulted from the substantial rise in vegetable prices. Tomatoes contributed significantly to this increase, posing a challenge... Read More...

Spike in Retail Inflation and Its Implications:Explainer

Aug 18, 2023

1. What is causing the surge in retail inflation? The surge in retail inflation is attributed to the Consumer Price Index (CPI), which contains a significant share of food items. A rise in food inflation directly contributes to an escalation in overall retail inflation. Over the past year, food inflation reached 11.51%, predominantly due to a substantial 37.34% surge in vegetable prices. Tomato prices, for instance, skyrocketed by a staggering 201.54%, while items like ginger, garlic, and green chili also witnessed notable price hikes. 2. What factors are driving persistently high f... Read More...

Coral Reefs: Great Barrier Reef's Deterioration

Aug 18, 2023

1. What is the Great Barrier Reef, and why is it significant? The Great Barrier Reef is the world's largest coral reef system, located off the coast of Queensland, Australia. It is renowned for its incredible marine biodiversity and is a UNESCO World Heritage site, attracting tourists from around the world. 2. What is coral bleaching, and how does it affect the reef? Coral bleaching occurs when coral polyps expel the symbiotic algae living in their tissues, causing the corals to turn white. This happens due to stress, often caused by warmi... Read More...

India and Bioecomy

Aug 18, 2023

What is Bioeconomy? Bioeconomy refers to an economic system that utilizes renewable biological resources, such as plants, animals, and microorganisms, to produce sustainable products, energy, and services. It involves harnessing the power of biology and biotechnology to create value-added products while minimizing environmental impacts. Bioeconomy aims to replace traditional, fossil-based industries with more sustainable and eco-friendly alternatives, thereby contributing to economic growth, environmental sustainability, and resource conservation. India's Bioeconomy Vision:... Read More...

India-UAE: Local Currency Trade

Aug 18, 2023

What significant trade agreement was signed between India and the UAE? A: A Memorandum of Understanding (MoU) on trade in national currencies was signed between Prime Minister Narendra Modi and the President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan. This agreement aimed to facilitate trade transactions using the local currencies of both countries. Q: What was the outcome of the MoU implementation? A: As a result of the MoU, the Abu Dhabi National Oil Company (ADNOC) and the Indian Oil Corporation Limited (IOCL) successfully conducted the... Read More...