INSAT-3DS mission to be launched from Sriharikota tomorrow.
Syllabus: GS-III
Subject: Science and Technology
Topic: Space Technology
Issue: INSAT series satellites
Context: the launch of INSAT-3DS.
| INSAT-3DS:
● It is an exclusive meteorological satellite for enhanced meteorological observations and monitoring of land and ocean surfaces for weather forecasting and disaster warning. ● It provides continuity of services to the existing in-orbit INSAT-3D and 3DR satellites with enhanced capabilities. Indian National Satellite System(INSAT) series ● It is a series of multipurpose geostationary satellites launched by ISRO to satisfy telecommunications, broadcasting, meteorology, and search and rescue operations. ● It enabled the rapid expansion of TV and modern telecommunication facilities to even the remote areas and off-shore islands. |
Source: The Hindu
India, Nepal sign pact to link UPI, NPI for faster remittances
Syllabus: GS-II
Subject: International Relations
Topic: India & Its neighbourhood.
Issue: UPI
Context: India’s Reserve Bank of India (RBI) and Nepal’s Nepal Rastra Bank (NRB) signed and exchanged Terms of Reference (ToR).
Benefits:
- Integrates fast payment systems between the two countries.
- To facilitate cross-border remittances, enabling users to make instant, low-cost fund transfers.
- Deepening of financial connectivity between India and Nepal.
- Reinforcing the enduring historical, cultural, and economic ties between the two countries.
+ Mains
| Enhances financial connectivity and streamlines cross-border remittances between India and Nepal through the integration of their fast payment systems. |
Source: The Hindu
India rejects European FTA ‘data exclusivity’ demand to protect interests of generic drug firms
Syllabus: GS-II
Subject: International Relations
Topic: India’s relations with other countries.
Issue: European FTA
Context: India rejected the European FTA’s demand for ‘data exclusivity’.
Synopsis:
- Data exclusivity shields innovator companies’ technical data from competitors.
+ Prelims Connect:
| · Generic Drugs: These are medications that contain the same active ingredients as brand-name drugs and are typically sold at a lower cost.
· European Free Trade Association (EFTA) is a regional trade organization and free trade area consisting of four European states: Iceland, Liechtenstein, Norway and Switzerland. |
Source: The Hindu
SC strikes down electoral bonds scheme, calls it unconstitutional.
Syllabus: GS-II
Subject: Polity
Topic: Elections and RPA
Issue: Electoral Bonds
Context: Supreme Court striked down electoral bonds scheme.
Reasons
- Violated right to information and free speech.
- lacks transparency.
Verdict:
- Details of donations to be provided to the Election Commission.
- Uncashed bonds to be refunded.
- Amendment to the Companies Act allowing corporate funding was also struck down.Top of Form
|
Source: The Hindu
After Japan, the UK faced a slowdown; and slipped into a technical recession in the second half of last year.
Syllabus: GS-III
Subject: Economy
Topic: Inflation
Issue: Inflation
Why in news? Recession in Japan and United Kingdom (UK)
Synopsis:
- The UK slipped into a shallow recession in the second half of 2023.
- It is considered it as a technical recession as two consecutive quarters recorded falling in output.
- But the small scale of declines suggests stagnation rather recession.
Prelims Connect (Terms in News):
| Stagflation
It defines a situation characterized by a simultaneous increase in prices and stagnation of economic growth. It comprises of the following elements- 1) The growth rate of the economy slows down 2) the level of unemployment remains steadily high 3) yet the inflation or price level remains high at the same time. Technical Recession: · A technical recession occurs when there are two consecutive quarters of negative economic growth, as measured by GDP · It signifies a downturn in economic activity but may be relatively mild and short-lived compared to a regular recession. |
Source: Mint
India emerges as the top buyer of Venezuelan crude oil in December, and January
Syllabus: GS-III
Subject: Economy
Topic: Trade and External sector
Issue: Venezuela Oil Imports.
Context: India became the top buyer of Venezuelan crude oil in December 2023 and January 2024 after a three-year break.
Synopsis:
- Venezuela was one of the major crude oil supplier for India.
- This changed when the United States of America imposed sanctions on Venezuela.
- Since then till recently Venezuela’s crude oil to India reduced.
- The US eased sanctions on Venezuela’s oil sector in October 2023 for six months.
- Venezuela offers discounts, benefiting Indian refiners amid volatile oil markets.
Data Point:
- World’s largest known oil reserves from highest to low are –
- Saudi Arabia
- Venezuela
- Canada
- Iran
- Iraq
Source: Indian Express
Efforts to attain self-sufficiency in pulses by 2027: Munda.
Syllabus: GS-III
Subject: Economy
Topic: Agriculture and allied
Issue: Pulses Production in India
Context: Pulses Convention-2024 was organised by the Global Pulses Confederation (GPC) and National Agricultural Cooperative Marketing Federation of India Ltd (NAFED).
Pulses Convention-2024:
- Aims for self-sufficiency in pulses by 2027.
- India is already self-reliant in chickpeas and many other pulse crops.
- The government focuses on increasing domestic pulse production to reduce import dependence.
- The success of “Bharat Chana Dal” in the market.
Prelims Connect:
Bharat Dal:
- To make pulses available to consumers at affordable prices, the Government maintains buffer stock of five major pulses, namely, chana, tur, urad, moong and masur under the Price Stabilisation Fund (PSF).
- Bharat Chana Dal: The Government launched the sale of chana dal in retail packs under the brand name of Bharat Dal at highly subsidized rates.
- is being distributed through retail outlets of NAFED, NCCF, Kendriya Bhandar and Safal.
- National Agricultural Cooperative Marketing Federation of India Ltd.(NAFED): set up to promote Co-operative marketing of agricultural produce to benefit the farmers.
- registered under the Multi State Co-operative Societies Act.
Data Point (+1 Advantage)
| Pulses Production in India:
· India is the world’s largest producer, consumer, and importer of pulses, accounting for 25%, 27%, and 14% respectively. · Pulses cover approximately 20% of the total area dedicated to food grains. · Among the various types of pulses, gram holds the highest share at around 40% of total production, followed by Tur/Arhar at 15-20%, and Urad/Black Matpe and Moong at approximately 8-10% each. |
Source: Indian Express
Daily Editorials
SC decision on Electoral Bonds case: Will it revive the flagging RTI Act?
Syllabus: GS-II
Subject: Polity
Topic: Rights issues
Issue: Right to Information
- The Supreme Court’s landmark ruling declaring Electoral Bonds unconstitutional has bolstered the Right to Information Act (RTI).
- Upholding voters’ rights, the SC emphasized transparency and accountability in political funding.
- However, the RTI regime faces challenges with vacancies, backlog, and non-compliance.
- The RTI needs revitalization to maintain India’s global standing.
- The government’s commitment to transparency, echoed by the Prime Minister, should guide reforms.
- The SC’s decision should catalyze efforts to strengthen and restore the RTI Act to its former prominence.
Democracy’s guardian angel
Syllabus: GS-II
Subject: Polity
Topic: Elections and RPA: Judiciary
Issue: Electoral Bonds
- The Supreme Court declaration of the electoral bonds scheme unconstitutional, asserting democracy’s fundamental values is a historic moment.
- The Court highlighted concerns raised by institutions like the RBI and Election Commission of India about electoral bonds.
- The judgment underscores the importance of transparency in political funding,
- Suggests alternatives like public funding or a National Election Fund.
- This landmark decision reaffirms the Supreme Court’s role as a guardian of democracy,
- restores faith in its pivotal role in upholding constitutional principles and safeguarding democratic integrity.
Unbonded: On the striking down of the Electoral Bond Scheme by the Supreme Court
Syllabus: GS-II
Subject: Polity
Topic: Elections and RPA
Issue: Electoral Bonds
Anonymous donations of high value undermine electoral democracy and governance.
They facilitate a quid pro quo culture involving donors and beneficiaries.
On the verdict:
- the entire scheme violates the Constitution, especially the voters’ right to information.
- Arbitrary Act: the amendment to the Companies Act that removed the cap of 7.5% of a company’s profit that can be donated to political parties (without any requirement to disclose details of the recipient parties in its profit and loss accounts).
- mandated disclosure of donation details since 2019.
- the primary justification for the scheme failed the test of proportionality.
- Instances where the Supreme Court held up Voters Rights:
- ‘None of the Above’ option on the ballot,
- the removal of the protection given to legislators from immediate disqualification on conviction for a criminal offence,
- the mandatory disclosure of the assets and criminal antecedents of candidates in their election affidavits
- expedited trials for MPs and MLAs involved in criminal offences.
+ 1 Advantage for Mains:
Test of proportionality: used to decide cases where two or more legitimate rights clash.
- The courts follow a four-pronged approach wherein the legitimacy, suitability, and necessity of a decision or law is examined.
- In addition to a balancing test to check whether the decision or law encroaches on rights to an excessive or arbitrary degree.