10-August-2024-Daily-Current-Affairs

RBI’S MONETARY POLICY COMMITTEE: MANAGING RETAIL INFLATION

TOPIC: (GS3) ECONOMY – SOURCE: THE HINDU

The RBI’s Monetary Policy Committee (MPC) recently decided to maintain the status quo on benchmark interest rates for the ninth consecutive meeting. This decision comes amidst persistently high retail inflation, particularly in food prices, which poses risks to economic stability.

Key Decisions:

• Interest Rates Unchanged: The MPC chose to keep interest rates steady, citing concerns over retail inflation, which has remained above the medium-term target of 4% for 57 months.
• Focus on Food Prices: Elevated food prices, especially for vegetables like tomatoes and onions, have significantly impacted household budgets and broader inflation expectations.
• Inflation Projections: The MPC raised its projection for headline retail inflation in the July-September quarter to 4.4%, up from 3.8% in June, indicating a less optimistic near-term outlook.
• Core Inflation and Risks: While core inflation may have stabilized, the committee warned of potential spillover effects from high food prices and the impact of mobile tariff revisions on broader non-food inflation.

RESERVE BANK OF INDIA MAINTAINS STATUS QUO ON ITS KEY POLICY RATES. Key Rates: ·       Repo Rate: 6.50% ·       Reverse Repo Rate: 3.35% ·       Marginal Standing Facility (MSF) Rate: 6.75% ·       Standing Deposit Facility (SDF) Rate: 6.25% How Policy Rates are Decided The Reserve Bank of India (RBI) sets policy rates through its Monetary Policy Committee (MPC). ·       This committee comprises of six members, including the Governor of RBI. Their decisions are based on a complex analysis of various economic indicators and factors. These include: ·       Inflation: The primary goal of most central banks, including the RBI, is to maintain price stability. Thus, inflation is a key factor in determining policy rates. ·       Economic Growth: The RBI also considers the pace of economic growth. It aims to strike a balance between controlling inflation and supporting economic expansion. ·       Global Economic Conditions: Global factors such as oil prices, exchange rates, and the performance of major economies influence domestic economic conditions and, consequently, policy rates. ·       Financial Stability: The RBI monitors financial stability risks to ensure the smooth functioning of the financial system. ·       Liquidity Conditions: The availability of funds in the banking system is another crucial factor considered by the MPC. The Relationship Between Inflation and Policy Rates The RBI uses policy rates as a tool to control inflation: ·       Rising Inflation: When inflation rises above the target level, the RBI typically increases policy rates. This makes borrowing more expensive, which reduces spending and investment, thereby cooling down demand and bringing inflation under control. ·       Falling Inflation: If inflation falls below the target, the RBI may consider lowering policy rates to stimulate economic activity and encourage borrowing and investment.

Conclusion:

The RBI’s cautious approach reflects the ongoing challenge of managing retail inflation without hampering economic growth. The emphasis on controlling food price inflation highlights the critical link between food costs nd overall economic stability, underscoring the need for continued vigilance in monetary policy.

Multiple Choice Question:

1. With reference to the monetary policy of the Reserve Bank of India (RBI), consider the following statements:
2. An accommodative stance in monetary policy typically involves reducing interest rates to encourage borrowing and investment.
3. During an accommodative stance, the primary objective is to control inflation rather than stimulate economic growth.
4. The RBI may adopt an accommodative stance when the economy is facing high inflationary pressures.

Which of the statements given above is/are correct?

1. 1 only
2. 1 and 2 only
3. 2 and 3 only
4. 1, 2, and 3

ANSWER: A

EXPLANATION:

An accommodative stance involves lowering interest rates to stimulate economic growth by making borrowing cheaper.

The primary objective of an accommodative stance is to stimulate economic growth, not necessarily to control inflation.

An accommodative stance is generally adopted when there is low inflation or economic slowdown, not when there is high inflation.

NO-CONFIDENCE MOTION AGAINST VICE-PRESIDENT

TOPIC: (GS2) POLITY AND GOCERNANCE – SOURCE: THE HINDU

In a significant political development, 50 opposition MPs have signed a resolution to initiate a no-confidence motion against Vice-President Jagdeep Dhankhar.

This moves stems from allegations of procedural violations and personal misconduct during parliamentary sessions.

Resolution Filed: The opposition, citing Article 67(B) of the Constitution, seeks to remove the Vice-President through a no-confidence motion.

Allegations:

• Violation of Parliamentary Conventions: The Vice-President, who chairs the Rajya Sabha, is accused of consistently denying the Leader of the Opposition the opportunity to speak.
• Personal Remarks: The Vice-President is also alleged to have made personal remarks against members, contravening Rule 238(2) of the Rajya Sabha.
• Next Steps: The opposition intends to move the motion in the upcoming session, though passing it remains a challenge due to the need for a majority in both Houses.

Types of Motions Used in Parliament

Adjournment Motion:

• Purpose: To discuss a definite matter of urgent public importance.
• Requirements: Needs the support of 50 members to be admitted, with the Speaker’s consent.
• Availability: Only in the Lok Sabha, not in the Rajya Sabha.
• Impact: Interrupts normal House business; considered an extraordinary device but does not require the government to resign. It acts as a strong censure of the government.

Closure Motion:

• Purpose: To cut short the debate on a matter before the House.
• Procedure: If approved by the House, the debate stops immediately, and the matter is put to vote.

Motion with a Vote (Rule 184 in Lok Sabha):

• Purpose: Allows debate with a vote on a specific question.
• Impact: If passed, it obliges the government to follow Parliament’s decision.
• Usage: Rarely used, reserved for matters of significant national importance.

Short Duration Discussion:

• Rules: Governed by Rule 193 in Lok Sabha and Rule 176 in Rajya Sabha.
• Purpose: To discuss a specific issue of public importance without voting on it.
• Duration: Typically limited to two hours.
• Function: Raises awareness and allows diverse perspectives without formal decisions.

No-Confidence Motion:

• Purpose: To test the confidence of the government in the Lok Sabha.
• Requirements: Needs support from 50 members to be admitted.
• Impact: If passed, the government must resign; significant as it reflects the government’s loss of majority support.

Confidence Motion:

• Purpose: To prove the government’s majority on the floor of the House.
• Context: Often called by the President when the government has a wafer-thin majority.
• Impact: Passage indicates the government’s continued mandate to govern.

Privilege Motion:

• Purpose: To address violations of the privileges of the House or its members, typically initiated against a minister.
• Impact: Expresses disapproval and criticism of the minister’s actions, particularly in cases of withholding information or providing misleading facts.

Motion of Thanks:

• Purpose: To express gratitude for the President’s Address at the commencement of the Lok Sabha.
• Procedure: The motion is discussed and then put to vote.
• Impact: If not passed, it amounts to the defeat of the government.

Cut Motion:

• Purpose: Proposed to reduce the amount of a demand in the budget.
• Impact: If passed by the Lok Sabha, it signifies a lack of confidence in the government and may lead to its resignation.

Conclusion:

This no-confidence motion marks a critical moment in parliamentary proceedings, highlighting concerns over adherence to parliamentary conventions and the impartiality required of those in presiding roles. The outcome will have significant implications for the conduct of legislative sessions moving forward.

Multiple Choice Question:

1. Consider the following statements regarding the No-Confidence Motion in the Indian Parliament:
2. A No-Confidence Motion can be introduced in either House of Parliament.
3. The support of at least 50 members is required to admit a No-Confidence Motion in the Lok Sabha.
4. If a No-Confidence Motion is passed, the Council of Ministers, including the Prime Minister, must resign.

Which of the statements given above is/are correct?

1. 1 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2, and 3

ANSWER: B

EXPLANATION:

A No-Confidence Motion can only be introduced in the Lok Sabha, not in the Rajya Sabha.

The support of at least 50 members is required for the motion to be admitted in the Lok Sabha.

If a No-Confidence Motion is passed, the entire Council of Ministers, including the Prime Minister, must resign.

SUB-QUOTA RED HERRINGS

TOPIC: (GS2) POLITY AND GOCERNANCE – SOURCE: THE HINDU

The recent Supreme Court judgment on sub-classification within Scheduled Castes (SCs) and Scheduled Tribes (STs) has sparked a debate.

However, much of the discussion is mired in misconceptions and unwarranted criticisms.

Justification for Sub-Quotas:

• Targeted Affirmative Action: Sub-classification is necessary to address inequalities within SCs/STs, ensuring that the most marginalized sub-groups benefit from reservations.
• Judicial Support: The Supreme Court’s decision, led by Chief Justice D.Y. Chandrachud, affirms that sub-classification aligns with the constitutional mandate for substantive equality.
• Legislative Authority: The judgment clarifies that legislatures have the power to implement sub-quotas, reinforcing their role in addressing social inequities.

Addressing Misconceptions:

• Empirical Evidence: Contrary to critics’ claims, census data provides a solid basis for sub-classification by highlighting disparities within SC/ST communities.
• Community Unity: Concerns about fragmentation are misplaced; sub-quotas aim to unite disadvantaged sub-groups and ensure fair distribution of benefits.
• Creamy Layer: Excluding better-off sections from sub-quotas ensures that the truly needy benefit from reservations.

Implications of the Judgment:

• Governance and Implementation: The Supreme Court has left it to the legislatures to decide on the implementation of sub-quotas, underscoring the importance of a democratic approach to social justice.
• Impact on Reservation System: The sub-classification aims to make the reservation system more equitable by ensuring that the most disadvantaged within SCs/STs are not left behind. This approach is seen as a way to fulfill the true purpose of reservations—uplifting the most oppressed.

Conclusion:

The sub-quota debate is about ensuring that reservations effectively reach the most marginalized within SCs/STs. The Supreme Court’s judgment provides a legal framework for this targeted approach, emphasizing the need for nuanced and data-driven affirmative action to achieve true social justice.

INDIA TO ROLL OUT NEW TREATMENT REGIMEN FOR DRUG-RESISTANT TB

TOPIC: (GS3) SCIENCE AND TECHNOLOGY – SOURCE: THE HINDU

India is set to roll out the BPAL regimen, a significant advancement in the fight against multidrug-resistant tuberculosis (MDR-TB) and extensively drug-resistant tuberculosis (XDR-TB). This new treatment approach promises to enhance the effectiveness of TB care by reducing treatment time and improving patient outcomes.

Key Features of BPAL Regimen:

• Components: BPAL is an all-oral combination of three drugs: bedaquiline (B), pretomanid (Pa), and linezolid (L).
• Shortened Treatment Duration: The regimen reduces treatment time to around six months, compared to the previous duration of 18 to 24 months.
• Cost-Effectiveness: The new regimen is expected to be more affordable for both health systems and patients, reducing the financial burden of treatment.
• Global Success: BPAL has already shown promising results in countries like Pakistan, South Africa, and Ukraine, where it has led to better, safer, and shorter TB treatment outcomes.

Implementation Strategy:

• Training and Rollout: Training for the BPAL regimen is set to begin this month, marking the start of its implementation in India. This training will equip healthcare professionals with the knowledge needed to administer the new treatment effectively.
• Diagnostic Tools: The use of nucleic acid amplification tests (NAAT) will be scaled up to ensure accurate diagnosis and monitoring of drug-resistant TB cases.

India TB Report 2024: TB Cases and Deaths: ·       More TB cases reported by private sector (33% in 2023). ·       Estimated TB incidence increased slightly in 2023 (27.8 lakh). ·       TB mortality remained steady at 3.2 lakh. ·       TB mortality dropped significantly since 2021 (from 4.94 lakh). ·       India achieved 2023 target: 95% of diagnosed patients initiated treatment. Challenges: ·       Missed targets for TB elimination by 2025. ·       Risk factors impacting TB: malnutrition, HIV, diabetes, alcohol, tobacco. Risk Factors: ·       Undernourishment: 7.44 lakh TB patients in 2022. Government provides nutritional support and encourages food donations. ·       HIV: 94,000 TB patients with HIV in 2022. Higher risk of contracting TB and treatment complications. ·       Diabetes: 1.02 lakh TB patients with diabetes in 2022 (India leads globally). Increases TB risk and treatment challenges. Screening efforts improved in 2023. ·       Alcohol and Tobacco: Increase TB risk and recurrence. Screening efforts conducted, some linked to cessation services.

Tuberculosis (TB) is an infectious disease primarily affecting the lungs, caused by the bacterium Mycobacterium tuberculosis. It is a significant public health concern, particularly in developing countries, and can be deadly if not treated properly.

Drug-Sensitive TB:

• The most common form of TB, which responds well to standard anti-TB drugs.
• Typically treated with a combination of four antibiotics over six months.

Multidrug-Resistant TB (MDR-TB):

• Definition: MDR-TB occurs when Mycobacterium tuberculosis becomes resistant to at least isoniazid and rifampicin, the two most powerful first-line anti-TB drugs.
• Treatment: MDR-TB requires longer treatment (18-24 months) with second-line drugs, which are often less effective, more toxic, and more expensive.

Extensively Drug-Resistant TB (XDR-TB):

• XDR-TB is a more severe form of MDR-TB where the bacteria are resistant not only to isoniazid and rifampicin but also to any fluoroquinolone and at least one of the three injectable second-line drugs (amikacin, kanamycin, or capreomycin).

India has launched several initiatives to combat the widespread issue of tuberculosis:

• Pradhan Mantri TB Mukt Bharat Abhiyan: A national campaign aimed at eliminating TB from the country by 2025.
• National Strategic Plan (NSP) for Tuberculosis Elimination: A comprehensive blueprint outlining strategies and goals for TB eradication.
• TB Harega Desh Jeetega Campaign: A public awareness initiative to engage the community in the fight against TB.
• Nikshay Poshan Yojna: A nutritional support program for TB patients.
• RePORT India: A research collaboration focused on understanding and addressing the TB epidemic in India and globally.

Conclusion:

The introduction of the BPAL regimen represents a major step forward in India’s battle against drug-resistant TB. By offering a shorter, safer, and more affordable treatment option, this regimen has the potential to significantly improve health outcomes and reduce the burden of TB in the country.

Multiple Choice Question:

1. Consider the following statements regarding Tuberculosis (TB):
2. TB is caused by a bacterium known as Mycobacterium tuberculosis.
3. Multidrug-resistant TB (MDR-TB) is resistant to at least isoniazid and rifampicin.
4. Extensively drug-resistant TB (XDR-TB) is resistant to all known antibiotics used to treat TB.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 1 and 3 only
3. 2 and 3 only
4. 1, 2, and 3

ANSWER: A

EXPLANATION:

TB is indeed caused by the bacterium Mycobacterium tuberculosis.

MDR-TB is resistant to at least isoniazid and rifampicin, the two most powerful first-line anti-TB drugs.

XDR-TB is resistant to isoniazid and rifampicin, any fluoroquinolone, and at least one of the three injectable second-line drugs, but not to all known antibiotics used to treat TB.

PRADHAN MANTRI JI-VAN YOJANA: ADVANCING BIOFUEL DEVELOPMENT

TOPIC: (GS2) POLITY AND GOVERNANCE – SOURCE: PIB

The Pradhan Mantri JI-VAN Yojana, launched in March 2019, is a government initiative to promote the production of Second Generation (2G) Ethanol in India.

The scheme supports biofuel development using lignocellulosic biomass, such as agricultural residues, to address environmental concerns, boost energy security, and create local employment opportunities.

Key Points:

Background:

• The Ethanol Blended Petrol (EBP) programme, initiated in 2003, aims to blend ethanol with petrol to reduce environmental impact and dependency on fossil fuels.
• The current ethanol blending rate is about 4.22%, with a goal of reaching 10% by utilizing biomass and waste through the 2G Ethanol initiative.

Scheme Details:

• The scheme provides Viability Gap Funding (VGF) to support 2G Integrated Bioethanol Projects.
• It includes a financial outlay of Rs. 1969.50 crore from 2018-19 to 2023-24.

Objectives:

• Establish an ecosystem for 2G Ethanol projects.
• Boost research and development in bioethanol technology.
• Support 12 commercial and 10 demonstration projects across two phases.

Benefits:

• Promotes the use of non-food feedstocks, reducing reliance on food crops.
• Reduces greenhouse gas emissions and improves public health by preventing biomass burning.
• Contributes to Swachh Bharat Mission and creates jobs in the biofuel sector.

CALCUTTA HIGH COURT RULING ON TRADEMARK REGISTRATION

TOPIC: (GS2) POLITY AND GOVERNANCE – SOURCE: INDIAN EXPRESS

The Calcutta High Court recently ruled that hiring contractual employees for quasi-judicial functions in the patents and trademarks office is illegal.

This decision raises concerns about the validity of many registered trademarks and highlights the importance of proper procedures in intellectual property management.

Key Points:

What is a Trademark?

• A trademark is a symbol, design, word, or phrase associated with a business, providing “exclusive rights” to its owner when registered.
• The Trademark Act 1999 offers protection to registered trademarks with the Controller General of Patents, Designs, and Trademarks.
• A registered trademark is valid for 10 years and can be renewed indefinitely every 10 years by its owner.

Court Ruling:

• The Calcutta High Court ruled that quasi-judicial roles under the Trade Marks Act should only be performed by officers from the official cadre, not by contractual hires.
• The ruling came after the Quality Council of India (QCI) hired contractual employees for the Office of the Controller General of Patents, Designs, and Trademarks.

Implications:

• This decision questions the validity of trademarks registered by ad hoc officers, potentially leading to increased litigation.
• The ruling emphasizes the need for qualified, permanent officers to reduce disputes and ensure the legitimacy of trademarks.

Legal and Industry Impact:

• The judgment brings attention to the risks of outsourcing critical functions in intellectual property management and the necessity for permanent, qualified personnel in these roles.

NBRI-GOUT OUT: HERBAL SOLUTION FOR GOUT

TOPIC: (GS3) SCIENCE AND TECHNOLOGY – SOURCE: INDIAN EXPRESS

The Lucknow-based CSIR-National Botanical Research Institute (NBRI) has developed a herbal product called ‘NBRI-Gout Out’ to address the problem of Gout. This product is a combination of five medicinal plants aimed at providing relief from this common form of arthritis.

Key Points:

About Gout:

• Gout is a common and complex form of arthritis that can affect anyone, but it occurs more frequently in men.
• Cause: It is caused by an increase in uric acid levels in the blood serum, which leads to the formation of urate crystals in the joints.

Risk Factors:

• Several factors can increase uric acid levels in the body, including obesity, certain medications (like diuretics), and consumption of foods and drinks high in purines (such as alcohol and sugary drinks).

Symptoms:

• Intense Joint Pain: Gout usually affects the big toe but can occur in any joint, including the ankles, knees, elbows, wrists, and fingers.
• Inflammation and Redness: The affected joints become swollen, tender, warm, and red.

Treatment:

• Common treatments for Gout include drugs such as allopurinol (Aloprim, Lopurin, Zyloprim) and febuxostat (Uloric), which help reduce uric acid production in the body.

NBRI-Gout Out:

• This herbal product by NBRI offers a natural remedy, utilizing the medicinal properties of five plants to address Gout symptoms and provide relief.

HOMO FLORESIENSIS: THE “HOBBIT” HUMANS OF FLORES

TOPIC: (GS3) SCIENCE AND TECHNOLOGY – SOURCE: DOWN TO EARTH

Homo floresiensis is a species of small archaic humans that lived on the Indonesian island of Flores around 60,000 years ago.

Nicknamed the “Hobbit” due to their small stature, they are one of the most intriguing discoveries in human evolution.

Key Points:

Discovery and Fossils:

• Fossils of Homo floresiensis have been found only on the island of Flores.
• These fossils date back to between 100,000 and 60,000 years ago, with stone tools associated with them dating as far back as 190,000 years.

Physical Features:

• Size and Appearance: Individuals of this species were about 3 feet 6 inches tall, with small brains, large teeth, shrugged-forward shoulders, no chins, receding foreheads, and relatively large feet due to their short legs.
• Their diminutive size and small brain may be the result of island dwarfism, an evolutionary process caused by long-term isolation on an island with limited food and a lack of predators.

Behavior and Tools:

• Despite their small size, Homo floresiensis were skilled toolmakers, using stone tools to hunt small elephants (Stegodon) and large rodents.
• They were able to cope with predators like giant Komodo dragons and might have used fire.

Significance:

• The discovery of Homo floresiensis has provided significant insights into human evolution, particularly in understanding how humans adapted to isolated environments. Their small stature, unique physical features, and tool use highlight the diversity of the human species.