10-October-2024-Daily-Current-Affairs

RBI MONETARY POLICY UPDATE

TOPIC: (GS3) ECONOMY: INDIAN EXPRESS

The Reserve Bank of India (RBI) recently held its policy review meeting and shifted its stance from “withdrawal of accommodation” to a “neutral” stance, indicating a potential rate cut in the near future. This move reflects the balanced state of inflation and economic growth at present.

Key Points

• Interest Rate Hold: The RBI kept the repo rate unchanged at 6.5%, marking the 10th time the rate has remained steady since April 2023.
• Policy Stance Shift: The RBI’s Monetary Policy Committee (MPC) unanimously agreed to change its stance to neutral, which signals potential flexibility for future rate cuts.
• Inflation Outlook: Inflation, which had been brought under control, is expected to rise slightly in the coming months due to base effects. The RBI is aiming for 4% inflation, and recent moderation has helped move closer to this target.
• Growth Outlook: The central bank retained its GDP growth projection at 7.2% for 2024-25. Private consumption and investment are cited as key drivers of this growth.
• Inflation Projections: While the second quarter inflation forecast was lowered to 4.1%, the RBI expects inflation to rise to 4.8% in the October-December quarter.

Monetary Policy Committee (MPC)

What is the MPC?

• A committee within the Reserve Bank of India (RBI) responsible for determining India’s monetary policy.
• Consists of six members:
  • Three appointed by the government.
  • Three ex-officio members from the RBI.

Key Roles and Functions:

• Interest Rate Decisions: Sets the repo rate, the rate at which commercial banks borrow from the RBI. This impacts lending rates across the economy.
• Inflation Targeting: Aims to maintain inflation within a specified range.
• Liquidity Management: Controls the amount of money circulating in the economy.
• Financial Stability: Ensures the stability and resilience of the financial system.

Factors Influencing MPC Decisions:

• Economic Indicators: GDP growth, inflation rate, unemployment, industrial production, etc.
• Global Economic Conditions: International trade, geopolitical events, foreign exchange rates.
• Government Policies: Fiscal policy, regulatory changes.
• Public Expectations: Consumer and business sentiment.

MPC Meetings:

• Typically meet four times a year.
• Decisions are made through a majority vote.
• Minutes of the meetings are released publicly.

Conclusion

The RBI’s decision to maintain rates but adopt a neutral stance reflects careful monitoring of inflation while balancing growth. Going forward, the RBI will focus on disinflationary trends, aiming for stable inflation and steady economic growth.

Multiple choice question:

1. Which of the following statements is/are correct regarding the “Repo Rate”?

1. It is the rate at which the Reserve Bank of India lends money to commercial banks.
2. An increase in Repo Rate increases the cost of borrowing for commercial banks.
3. A decrease in Repo Rate increases the money supply in the economy.

Select the correct answer using the code given below:

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

Answer: D

Explanation:

Repo Rate is the interest rate at which the Reserve Bank of India (RBI) lends short-term funds to commercial banks. It is one of the primary tools used by the RBI to control inflation and liquidity in the economy.

The Repo Rate is the interest rate at which the RBI lends funds to banks for short durations, typically to meet their short-term liquidity requirements.

When the RBI raises the Repo Rate, commercial banks face a higher cost for borrowing from the RBI. This often leads to an increase in the lending rates of banks to customers, thereby reducing borrowing by businesses and consumers, and helping control inflation.

When the Repo Rate is reduced, borrowing becomes cheaper for banks, and they can lend more money to businesses and individuals. This increases the overall money supply in the economy, which can stimulate economic activity but may also lead to inflation if not controlled.

DECLINE IN GLOBAL WILDLIFE POPULATION: WWF REPORT

TOPIC: (GS3) ENVIRONMENT: INDIAN EXPRESS

The World Wildlife Fund (WWF) has published a new report revealing a significant decline in wildlife populations across the globe over the past five decades. The report emphasizes the impact of habitat destruction, climate change, and invasive species as major factors contributing to this alarming trend. India is particularly affected, with specific mention of the rapid decline of certain vulture species.

Key details of report:

• Overall Wildlife Decline: Global wildlife populations have decreased by 73% in the last 50 years. This decline is attributed to habitat destruction, environmental degradation, and the effects of climate change.

• India’s Vulture Species: In India, three vulture species—white-rumped vulture, Indian vulture, and slender-billed vulture—have shown an alarming reduction in numbers. Vultures play a critical role in the ecosystem, and their decline poses serious environmental risks.
• Research Data: The findings are based on the monitoring of 35,000 population trends and 5,495 species, including amphibians, mammals, birds, fish, and reptiles. The data shows the widespread impact on both aquatic and terrestrial ecosystems.
• Freshwater Ecosystems: Freshwater ecosystems have experienced the greatest decline, with an 85% reduction in wildlife populations. This is the highest among all ecosystems studied.
• Terrestrial and Marine Ecosystems: Terrestrial populations have seen a 69% decline, while marine wildlife has decreased by 56%. Factors like habitat loss due to unsustainable agriculture, deforestation, and climate change are major drivers behind these declines.
• Conservation Challenges: The report emphasizes that conservation efforts must intensify, as unsustainable human activities and the degradation of ecosystems threaten biodiversity at an unprecedented rate.

World Wildlife Fund (WWF)

• Global conservation organization dedicated to protecting the planet’s biodiversity and ensuring a future where people live in harmony with nature.
• Founded: 1961 in Switzerland
• Mission: To conserve the natural world and reduce the most pressing threats to biodiversity.
• Work: Focuses on key areas:
  • Forests
  • Oceans
  • Freshwater
  • Wildlife
  • Climate
• Projects: Implements various projects worldwide, often in partnership with governments, communities, and other organizations.
• Notable initiatives:
  • Living Planet Report: A biennial report that assesses the health of the planet’s ecosystems and biodiversity.
  • Earth Hour: A global campaign that encourages individuals and businesses to switch off lights for one hour as a symbol of commitment to environmental action.
  • Panda Conservation: Supports efforts to protect giant pandas and their habitat in China.

Conclusion

The WWF report highlights the urgent need for stronger conservation efforts globally to protect wildlife from further decline. In India, the focus must be on protecting vulnerable species like vultures and addressing broader environmental challenges to restore ecological balance.

Multiple choice question:

1. Consider the following statements regarding the reports released by the World Wildlife Fund (WWF):

1. The Living Planet Report is a biennial publication by the WWF that tracks global wildlife population trends.
2. According to a recent WWF report, global wildlife populations have declined by 73% in the last 50 years.
3. The Living Planet Index, featured in the WWF reports, focuses exclusively on marine species.

Which of the statements given above is/are correct?

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

Answer: A

Explanation:

The Living Planet Report is a biennial publication by the World Wildlife Fund (WWF) that provides insights into the state of the planet’s biodiversity, including wildlife population trends.

According to a recent WWF report, global wildlife populations have seen a 73% decline over the last 50 years, as highlighted in the Living Planet Report.

the Living Planet Index does not focus exclusively on marine species. It tracks various species across terrestrial, freshwater, and marine ecosystems.

FORTIFIED RICE SUPPLY EXTENDED

TOPIC: (GS3) ECONOMY: INDIAN EXPRESS

The Government of India has extended the distribution of fortified rice through all central schemes, ensuring continued supply until December 2028. This decision, aimed at combating malnutrition and micronutrient deficiencies, particularly addresses issues like anaemia. The initiative is part of the government’s broader effort to improve public health by enhancing the nutritional content of staple foods.

What is Rice Fortification?

• Definition: Rice fortification involves adding essential micronutrients to rice, such as iron, folic acid, and vitamins. The goal is to improve nutritional intake and reduce health risks like anaemia, especially among vulnerable populations.
• Need: India has high levels of malnutrition, with widespread anaemia and stunted growth. Fortifying rice is seen as a cost-effective method to enhance the nutritional value of a staple food consumed by two-thirds of the population.

Process of Rice Fortification

• Technologies: Fortification of rice can be done using techniques like coating, dusting, and extrusion. The most common method in India involves the production of fortified rice kernels (FRKs), which are mixed with regular rice.
• Composition: As per the Food Safety and Standards Authority of India (FSSAI), 1 kg of fortified rice contains:
  • Iron: 28-42.5 mg
  • Folic acid: 75-125 micrograms
  • Vitamin B12: 0.75-1.25 micrograms
• Additional micronutrients like zinc and Vitamin B can also be added based on nutritional requirements.

Cooking and Consumption of Fortified Rice

• Fortified rice is cooked the same way as regular rice and retains its nutritional properties even after cooking. The rice kernels, which are packed to closely resemble regular rice, ensure that fortified rice is easily integrated into existing food distribution systems.

Implementation of the Fortification Program

• Phases:
  • Phase 1: The initiative began after the announcement in Prime Minister Narendra Modi’s 2015 Independence Day speech. It covered major welfare programs like the Public Distribution System (PDS) and the Mid-Day Meal Scheme.
  • Phase 2: Expanded fortified rice distribution to cover 112 aspirational districts and 291 districts with high rates of child stunting by March 2023.
  • Phase 3: Scheduled to cover all districts in India by March 2024.
• Production and Supply: As of now, there are 925 manufacturers capable of producing fortified rice. In the 2022-23 fiscal year, the government distributed around 406 lakh metric tonnes (LMT) of fortified rice through the PDS.

Costs and Benefits

• Cost: The program’s cost is estimated at around ₹2,700 crore annually, which is less than 2% of the national food subsidy bill.
• Health Impact: The initiative targets the reduction of malnutrition, stunting, and anemia, benefiting women, children, and vulnerable groups by providing nutrient-rich rice through welfare schemes.

What is Anaemia?

• A condition where there is an abnormally low number of red blood cells or a decrease in haemoglobin (a protein in red blood cells that carries oxygen) in the blood.

Types of Anaemia:

• Iron-deficiency anaemia: The most common type, caused by a lack of iron in the body.
• Vitamin B12 deficiency anaemia: Occurs due to a deficiency of vitamin B12.
• Folic acid deficiency anaemia: Caused by a lack of folic acid (a B vitamin).
• Sickle cell anaemia: A genetic disorder that affects the shape of red blood cells.
• Aplastic anaemia: A rare condition where the bone marrow stops producing enough blood cells.

Causes of Anaemia:

• Blood loss (e.g., from injury, menstruation, or digestive problems)
• Inadequate iron, vitamin B12, or folic acid intake
• Malabsorption of nutrients
• Certain medical conditions (e.g., chronic kidney disease, autoimmune disorders)
• Genetic disorders (e.g., sickle cell anemia)

Treatment of Anaemia:

• Addressing the underlying cause
• Iron supplements for iron-deficiency anaemia
• Vitamin B12 or folic acid supplements as needed
• Blood transfusions in severe cases
• Lifestyle changes (e.g., balanced diet, regular exercise)

Prevention of Anaemia:

• Eating a diet rich in iron, vitamin B12, and folic acid
• Limiting alcohol intake
• Avoiding excessive caffeine
• Regular check-ups for at-risk individuals

Conclusion

The government’s decision to extend the supply of fortified rice until 2028 underscores its commitment to improving public health by tackling malnutrition and nutrient deficiencies. Through phased implementation, the program aims to ensure that fortified rice reaches all regions, contributing to better nutrition and overall well-being.

Multiple choice question:

1. Which of the following are common micronutrients used for food fortification to combat anaemia?

1. Iron
2. Vitamin B12
3. Folic acid
4. Vitamin C

Select the correct answer using the code given below:

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

Answer: C

Explanation:

Iron: This is one of the most common micronutrients used in food fortification, as iron deficiency is a leading cause of anaemia. Foods like rice, wheat flour, and salt are often fortified with iron.

Vitamin B12: This vitamin is crucial for the proper formation of red blood cells and DNA synthesis. Deficiency of vitamin B12 can lead to megaloblastic anaemia.

Folic acid: Also known as vitamin B9, folic acid helps in the formation of red blood cells and is often added to staple foods to prevent anaemia, especially during pregnancy.

Vitamin C: While vitamin C is essential for enhancing the absorption of iron from plant-based foods, it is not directly used for food fortification to combat anaemia.

DIGITAL DIVIDE

TOPIC: (GS3) SCIENCE AND TECHNOLOGY: THE HINDU

The digital divide, the gap between those who have access to digital technology and those who do not, is a pressing issue in India. Despite significant strides in recent years, there remains a stark disparity in digital literacy and access across the country.

Key Findings from the Survey

• Wide Spread of Mobile Phones: Over 95% of Indian households now own a mobile phone, indicating widespread penetration of basic digital technology.
• Limited Computer Ownership: In contrast, only 9.9% of households have a computer, highlighting a significant digital divide.
• Urban-Rural Divide: The ownership of computers is concentrated in urban areas, with a 21.6% share compared to 4.2% in rural areas.
• Gender Gap: There is a gender gap in computer ownership, with males having higher rates than females.

What is Digital divide?

• The digital divide refers to the gap between those who have access to digital technology, such as computers, smartphones, and the internet, and those who do not.
• This disparity can be caused by factors like income, location, education, and age.

Key aspects of the digital divide:

• Access: The availability of digital technology, including infrastructure like broadband internet and devices.
• Affordability: The cost of digital technology and internet access.
• Skills: Digital literacy, or the ability to use digital tools effectively.
• Relevance: The availability of digital content and services that are relevant and useful to individuals.

Consequences of the digital divide:

• Economic inequality: Limited access to digital technology can hinder job opportunities, education, and economic growth.
• Social exclusion: Those who are not connected to the digital world may feel isolated and excluded from social networks and communities.
• Limited access to information: The digital divide can limit access to important information and resources, such as healthcare and education.

Challenges in Bridging the Digital Divide

• Infrastructure Limitations: Many rural areas still lack adequate internet infrastructure, which restricts access to online services and digital technologies. The absence of reliable connectivity significantly hampers efforts to achieve digital inclusion.
• High Costs of Digital Equipment: The expense associated with purchasing digital devices and maintaining internet connectivity is a significant barrier for low-income households. This financial strain prevents many families from accessing essential digital resources and tools.
• Lack of Awareness: A significant portion of communities remains unaware of the potential benefits that digital inclusion can provide. This lack of understanding can lead to resistance to adopting technology, hindering overall progress in bridging the digital divide.

Educational Attainment

• Goa Leads in Formal Education: Goa tops the list of states/UTs with the highest mean years of schooling in formal education, followed by Manipur, Delhi, Puducherry, Lakshadweep, Sikkim, and Kerala.
• National Average: The national average for persons aged 15 years and above is 8.4 mean years of schooling in formal education.

Conclusion

While India has made progress in mobile phone penetration, the limited availability of computers, especially in rural areas, continues to hinder digital inclusion. Addressing this digital divide is crucial for bridging the gap between different sections of society and ensuring equitable access to opportunities and resources.

REVOLUTIONARY AI BREAKTHROUGH IN PROTEIN RESEARCH WINS NOBEL PRIZE IN CHEMISTRY

TOPIC: (GS3) SCIENCE AND TECHNOLOGY: INDIAN EXPRESS

This year’s Nobel Prize in Chemistry has been awarded to David Baker, Demis Hassabis, and John Jumper for their groundbreaking work in protein research. Their innovative use of artificial intelligence has revolutionized the understanding and manipulation of protein structures, paving the way for significant advancements in various fields, including medicine and environmental science.

Importance of Proteins in Life

• Proteins are essential for all living beings, playing vital roles in nearly every biological function.
• These large, intricate molecules are composed of long chains of amino acids, performing tasks such as accelerating biochemical reactions (enzymes), providing structural integrity, storing energy, and supporting immune responses.
• The existence of life itself hinges on the presence and functionality of proteins.

Breakthrough in Protein Research

• This year’s Nobel Prize in Chemistry honours David Baker, Demis Hassabis, and John Jumper for their groundbreaking contributions to protein research.
• Unlike conventional discoveries, their work has led to the development of tools that greatly speed up the process of determining protein structures and creating new proteins.
• These innovations leverage artificial intelligence (AI) and computational methods, simplifying and enhancing the accuracy of structural prediction and protein synthesis.

AlphaFold: AI-Powered Protein Prediction

• Demis Hassabis and John Jumper created AlphaFold, an AI-driven tool that predicts the three-dimensional configurations of proteins based on amino acid sequences.
• Traditionally, determining protein structures involved labor-intensive methods like x-ray crystallography, but AlphaFold has revolutionized this field.
• By utilizing databases of known sequences and structures, AlphaFold has achieved remarkable accuracy in its predictions and has significantly impacted protein research, gained extensive adoption and received several upgrades since its launch.

Creating New Proteins

• David Baker has harnessed computational techniques to design synthetic proteins that do not exist in nature.
• These innovative proteins can perform functions that natural proteins cannot, including the ability to break down non-biodegradable plastics.
• Baker’s approach offers a more efficient alternative to traditional evolutionary methods, which are typically slow and necessitate numerous mutations.
• This advancement opens up exciting new avenues for applications in environmental protection and medical research.

Implications and Future Prospects

• The breakthroughs achieved by these scientists carry significant implications for drug discovery and the treatment of diseases linked to protein malfunctions.
• The integration of AI into chemistry and biology is emerging as a pivotal area of study, and the Nobel Prize acknowledgment underscores the transformative potential of these technological innovations.
• As research in this field continues to evolve, the applications of these advancements in improving human health and addressing environmental challenges will likely expand further.

CCS CLEARS DEALS FOR 31 MQ-9B DRONES AND SUBMARINES

TOPIC: (GS3) SCIENCE AND TECHNOLOGY: INDIAN EXPRESS

On Wednesday, the Cabinet Committee on Security (CCS) approved two significant defence deals: the procurement of 31 MQ-9B High Altitude Long Endurance (HALE) Unmanned Aerial Vehicles (UAVs) from General Atomics, USA, and the indigenous construction of two nuclear attack submarines (SSNs). These agreements aim to enhance India’s military capabilities across air and naval operations.

Body

Details of the MQ-9B UAV Deal:

• The approved deal includes the acquisition of 31 MQ-9B UAVs, specifically 15 Sea Guardians for the Indian Navy and 16 Sky Guardians, with eight each designated for the Indian Army and Air Force.
• The deal is around $3.99 billion, marking a substantial investment in advanced unmanned aerial technology.
• As part of the agreement, General Atomics will establish a Global Maintenance, Repair, and Overhaul (MRO) facility in India, contributing to local employment and skill development.

Significance of the SSN Project:

• The indigenous construction of two SSNs is seen as a vital step in enhancing India’s underwater combat capabilities. SSNs offer operational flexibility and unlimited endurance, limited only by crew capacity.
• This initiative follows India’s successful development of nuclear-powered ballistic missile submarines (SSBNs), including the recently commissioned INS Arighaat, which joined the earlier INS Arihant commissioned in 2016.

Previous Naval Enhancements:

• India has previously leased two SSNs from Russia, and an additional third SSN is expected to join the fleet in two to three years after some delays.
• The addition of SSNs to the naval fleet will significantly boost India’s maritime strategic capabilities, allowing for a variety of missions including anti-submarine warfare, surveillance, and intelligence gathering.

Strategic Implications:

• These acquisitions reflect India’s broader defence strategy aimed at modernizing its armed forces and ensuring national security amid evolving regional threats.
• The enhancement of UAV capabilities, coupled with the expansion of the submarine fleet, will strengthen India’s deterrent posture and operational readiness in both the air and maritime domains.

Conclusion:

The CCS’s approval of these high-profile defence deals underscores India’s commitment to enhancing its military capabilities. By investing in advanced UAV technology and indigenous submarine construction, India is poised to strengthen its defence posture while promoting self-reliance in military manufacturing. These developments are crucial for maintaining regional security and asserting India’s strategic interests in an increasingly complex geopolitical landscape.

HOW EVM BATTERIES WORK, HOW THEY ARE CHANGED

TOPIC: (GS2) POLITY: INDIAN EXPRESS

Electronic Voting Machines (EVMs) have become an integral part of India’s electoral process. To ensure their smooth functioning, EVMs rely on batteries. This article explores the types of batteries used in EVMs, their operational mechanisms, and the procedures for changing them.

Types of Batteries in EVMs

• Alkaline Batteries: EVMs, including the Voter Verifiable Paper Audit Trail (VVPAT) units, employ alkaline batteries instead of electricity. These batteries are manufactured by Bharat Electronics Limited (BEL) and Electronics Corporation of India Limited (ECIL).
• Power Packs: The control unit (CU) of the EVM has a power pack of 7.5 or 8 volts, while the VVPAT unit has a power pack of 22.5 volts.

Battery Monitoring and Replacement

• Periodic Monitoring: The EVM’s control unit periodically monitors the battery status and displays it as “High,” “Medium,” “Low,” “Marginal,” or “Change Battery” along with the percentage.
• Battery Replacement: When the battery level reaches 5.8 volts, the “Change Battery” status is displayed, indicating the need for replacement.
• Replacement Process: New batteries are fitted to EVMs before elections during the first-level checking process. Political party representatives can observe this procedure. If the battery level drops during the mock poll, it must be replaced in the presence of polling agents.
• Post-Poll Reporting: Presiding officers must submit a report to the Election Commission (EC) detailing any battery changes. This report includes information such as the control unit’s unique ID, the reason for battery replacement, and the signatures of polling agents present.

Significance of Battery Maintenance

• Reliable Voting: Well-maintained batteries ensure the smooth and uninterrupted functioning of EVMs during elections.
• Transparency: The procedures for battery replacement and reporting contribute to the transparency and integrity of the electoral process.
• Public Confidence: Regular monitoring and maintenance of batteries help maintain public confidence in the reliability of EVMs.

Conclusion

The proper functioning of EVMs depends on the reliability of their batteries. By understanding the types of batteries used, the procedures for monitoring and replacing them, and the importance of battery maintenance, we can gain a better appreciation for the technology behind India’s electoral process.

EXERCISE MALABAR 2024 – OPENING CEREMONY

TOPIC: (GS3) SECURITY: THE HINDU

The 28th edition of Exercise MALABAR, a significant maritime exercise involving India, the USA, Japan, and Australia, began on October 8, 2024. This exercise enhances regional security cooperation and is in line with India’s vision for the Indo-Pacific under its SAGAR (Security and Growth for All in the Region) initiative.

Exercise MALABAR

• Inception: The exercise commenced in 1992 as a bilateral drill between the Indian and U.S. navies.
• Expanded Participation: Japan became a permanent participant in 2015, and Australia joined in 2020, transforming it into a quadrilateral maritime exercise with participation from India, the USA, Japan, and Australia.
• Current Edition: The 28th iteration is being conducted by India’s Eastern Naval Command, with the main events taking place in Visakhapatnam.
• Main Objective: The primary aim of the exercise is to enhance naval cooperation, interoperability, and coordination among the participating nations to tackle shared maritime challenges.
• Strategic Significance: Exercise MALABAR plays a crucial role in promoting regional security in the Indo-Pacific, aligning with India’s vision of Security and Growth for All in the Region (SAGAR).
• Importance: This exercise bolsters understanding, cooperation, and synergy among the navies involved, thereby improving their collective ability to operate effectively in maintaining regional maritime security.
• Multilateral Focus: The exercise reflects the increasing defence collaboration among the Quad nations, addressing the evolving geopolitical and security dynamics in the Indo-Pacific region.