Blog

1) Transgenic Crops: Recently, Gujarat, Maharashtra and Telangana, have deferred a proposal, approved by the Centre’s Genetic Engineering Appraisal Committee (GEAC), to test a new kind of Transgenic Cotton Seed that contains a gene, Cry2Ai. Transgenic crops are plants that have been modified through genetic engineering techniques. These crops have had specific genes inserted into their DNAtoRead more

1) The Hiroshima AI Process for Global AI Governance: Recently, the annual G7 Summit held in Hiroshima, Japan, initiated the Hiroshima AI Process (HAP), which is likely to conclude by December 2023, signaling a significant step towards regulating Artificial Intelligence (AI). Role of HAP in resolving the issue of IPR in relation to Generative AI:Read more

1) Compromise Settlement for Willful Defaulter: RBI: Recently, The Reserve Bank of India (RBI) has introduced a circular allowing willful defaulters and companies involved in fraud to opt for compromise settlements or technical write-offs. Non-Performing Asset: NPA refers to a classification for loans or advances that are in default or are in arrears on scheduled payments ofRead more

1) Tax Devolution: Recently, the Union government has released the 3rd Installment of Tax Devolution to state governments amounting to Rs 1,18,280 crore in June 2023, as against the normal monthly devolution of Rs 59,140 crore. Article 280(3)(a) of the Constitution of India mandates that the Finance Commission (FC) has the responsibility to make recommendations regarding the division ofRead more

1) Jal Jeevan Mission: Recently, the World Health Organization (WHO) in its study, it highlighted the potential impact of the Jal Jeevan Mission (JJM) including significant health and socio-economic benefits. Launched in 2019, it envisages supply of 55 litres of water per person per day to every rural household through Functional Household Tap Connections (FHTC)Read more

1) Delayed Monsoon: In 2023, the monsoon arrived over the Kerala coast on June, 8th, which is a delay compared to its normal onset date of June, 1st. Monsoons are seasonal winds(Rhythmic wind movements or Periodic Winds) which reverse their direction with the change of season. Factors Influencing South-West Monsoon: differential heating and cooling of land and water;Read more

1) RBI Monetary Policy Committee: Policy Rates Unchanged: Recently, the Reserve Bank of India’s Monetary Policy Committee (MPC) has decided to keep the policy rates unchanged, taking into account the evolving macroeconomic situation. Key Announcements: Policy Rates Unchanged: Repo rate, SDF rate, MSF rate and bank rate remained unchanged. Emphasis on Inflation Management: The MPCRead more

1) PM-PRANAM Scheme and Increased FRP: Cabinet Committee on Economic Affairs (CCEA), approved the PM-PRANAM scheme, aimed at restoring and nurturing Mother Earth through the use of biofertilizers. PM-PRANAM stands for PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth. Objective: Encourage the balanced use of fertilizers in conjunction with biofertilizers and organic fertilizers.Read more

1) India-US Deal for Semiconductor Unit: Recently, US-based Company – Micron Technology, has signed a Memorandum of Understanding (MoU) with the state government of Gujarat to establish a Semiconductor Unit worth Rs 22,500 crore near Ahmedabad. Challenges Regarding Semiconductor Manufacturing in India: A semiconductor fabrication facility (or fab) can cost multiples of a billion dollars toRead more

1) Centre Sets Minimum Support Price for Kharif Crops: The Indian government has approved the Minimum Support Price (MSP) for kharif crops for the 2023-24 season, aiming to provide fair remuneration to farmers. However, concerns have been raised by farmers’ organisations regarding the increase not keeping up with rising input costs. Concerns of the Farmers:Read more