Context: India’s foreign exchange reserves fell to a near 11-month low of $623.98 billion as of Jan. 17, extending their losing streak for a seventh straight week, RBI data showed. What is Forex Reserve? Foreign exchange reserves, also called forex reserves, are those assets a nation’s central bank holds to support the nation’s currency and financial stability. What does forex reserves consist of? What do foreign exchange reserves do? Who manages forex reserves in India?
Guillain-Barré Syndrome (GBS)
Context: Alerts from three Pune hospitals to local authorities about a higher than-usual occurrence of Guillain-Barré Syndrome (GBS), a rare but treatable autoimmune disease, blew up into an unprecedented cluster of 73 cases by almost trebling in four days from the initial 26 cases that caused alarm. Guillain-Barré Syndrome (GBS) Guillain-Barré syndrome (GBS) is a very rare neurological condition. It happens when the immune system of a body attacks the peripheral nervous system. This will result in the symptoms of weakness, tingling, numbness, and paralysis in some people. GBS is life-threatening but most people can fully recover.
Sri Lanka Revokes Adani power Purchase Deal
Context: Sri Lanka has revoked a 2024 power purchase pact with Adani Green Energy for a proposed wind power plant in the island’s Northern province following corruption allegations, news agency AFP reported. Key Findings: Background and Controversy Approved by the Ranil Wickremesinghe government in February 2023 the project was opposed by: Way Forward The revocation of the agreement signals Sri Lanka’s push toward more transparent and costefficient foreign investments. Of course the project is not canceled but rather the renewed examination highlights the governments efforts to align energy projects with national priorities as well as ensure fairness in investment processes.
Spinal Muscular Atrophy (SMA)
Context: Health activists and patients with spinal muscular atrophy (SMA) have refuted the Union government’s affidavit in the Kerala High Court and demanded urgent action to reduce the cost of medicines required for this genetic disorder. Spinal Muscular Atrophy (SMA) SMA is a rare genetic disease causing weakness and wasting of muscles. The motor neurons that are found in the spinal cord and brainstem controlling the voluntary movements of the body get affected by this disorder. Spinal Muscular Atrophy Cases Related Issues in India According to available data, Spinal Muscular Atrophy (SMA) affects approximately one in every 7,744 live births in India, meaning around 3,200 babies are born with SMA each year in the country, this makes SMA a relatively rare but significantly impactful condition in India. Major issues The main problem with SMA drugs in India is that they are too expensive, and most patients cannot afford the treatment, such as Zolgensma, which costs as much as 17 crores rupees for a single dose.
NITI Aayog’s Fiscal Health Index (FHI), 2025
Purpose of the Report The Fiscal Health Index (FHI) evaluates the fiscal performance of 18 major Indian states.It focuses on key indicators such as contribution to GDP, public expenditure, revenues and fiscal stability to assess statelevel fiscal health. Top Performing States Achievers Front Runners Moderate Performers Aspirational States Fiscal Health Index (FHI) 2025 – Methodology & Key Indicators Data Sources & Scope Five Major Sub-Indices & Their Minor Sub-Indices Major Sub-Index Minor Sub-Indices Purpose & Insights 1. Quality of Expenditure 1.1 Total Developmental Expenditure / Total Expenditure Measures proportion of budget spent on long-term economic growth & social services 1.2 Total Capital Outlay / GSDP Assesses how much of the state’s economic output is invested in infrastructure & long-term assets 2. Revenue Mobilisation 2.1 State Own Revenue / GSDP Indicates financial independence by measuring state-generated revenue vs. economic output 2.2 State Own Revenue / Total Expenditure Shows the extent to which the state’s expenditures are funded by its own revenue sources 3. Fiscal Prudence 3.1 Gross Fiscal Deficit / GSDP Evaluates borrowing levels relative to economic size, signaling potential debt sustainability concerns 3.2 Revenue Deficit / GSDP Highlights if the state is generating sufficient revenue to cover its operational costs 4. Debt Index 4.1 Interest Payments / Revenue Receipts Measures percentage of revenue receipts used for interest payments, assessing debt servicing capability 4.2 Outstanding Liabilities / GSDP Reflects overall debt burden in proportion to the state’s economic output 5. Debt Sustainability 5.1 Growth Rate of GSDP – Growth Rate of Interest Payments A positive gap suggests debt is manageable; a negative gap indicates fiscal stress Detailed Explanation of Key Indicators 1. Quality of Expenditure 2. Revenue Mobilisation 3. Fiscal Prudence 4. Debt Index 5. Debt Sustainability Key Takeaways Importance of the Report This report provides a guide for states to enhance the stability of their finances and efficiently use their resources to achieve sustainable economic growth. Source: The Hindu NITI Aayog
Pralay Missile
Context: The Defence Research and Development Organisation (DRDO) is set to showcase “Pralay”, an indigenous short-range quasi-ballistic missile, at the Republic Day parade in New Delhi on Sunday. Salient Features Agni-4 Missile by India
Current Affairs 24 January 2025
Daily Current Affairs Quiz24 January, 2025 International Affairs 1. US Withdrawal from WHO Context: United States President Donald Trump signed an executive order to withdraw from the World Health Organisation (WHO) on his very first day in office. The Decision to Withdraw US Withdrawal Implications The Case for US Reengagement with WHO Hope for Reconsideration Even after the US decision WHO has already attempted to contact hoping that the US will have second thoughts and again join the rest of the health world. Some hope within the health circles are that as scientists have created medicines that work wonders diplomacy can lead to a point where the US will once more engage with WHO. Conclusion National Affairs 1. Inter-State Water Disputes Context: The Supreme Court has found that the Union government is yet to grant ‘in-principle approval’ to the Cauvery-South Vellar Link project four years after Tamil Nadu sought clearance from the Jal Shakti Ministry. The Cauvery-South Vellar Link Project Legal and Political Controversies Background of the Project Legal Argument of Karnataka Inter-State Water Disputes The water happens to be in the State List of the Indian Constitution. The State List is List II of the Seventh Schedule of the Constitution. Constitutional Provisions Inter-state water disputes in India are addressed in the Indian Constitution’s Article 262 and the Inter-State Water Disputes Act of 1956. Inter-State River Water Disputes Act 1956 It is one whose purpose serves the water dispute within the States. Inter-State River Water Disputes Amendment Bill 2017 Major Provisions Decisions by the benches of the Tribunal are final and binding on the parties Issues with Inter-State Water Dispute Tribunals UPSC Civil Services Examination, Previous Year Question (PYQ) Mains Q. Constitutional mechanisms to resolve the inter-state water disputes have failed to address and solve the problems. Is the failure due to structural or process inadequacy or both? Discuss. (2013) 2. Tuberculosis India TB Report 2024 Recently, the Ministry of Health and Family Welfare released the India TB Report 2024, which highlights that the mortality rate due to Tuberculosis (TB) had declined from 28 per lakh population in 2015 to 23 per lakh population in 2022. Key Highlights: Tuberculosis Programs to Control TB 3. Poverty in India Why in News? The World Bank has recently published a report titled Poverty Prosperity and Planet Pathways out of the Polycrisis. The report is the first to give the post pandemic report on the worlds progress toward poverty reduction prosperity and environment related goals. Highlights of Report Causes of Poverty in India Poverty Trends in India Current Situation According to NITI Aayog History of Poverty Estimation in India Key Terminologies Relating to Poverty Policies to Reduce Poverty in India NITI Aayog’s Recommendations to Reduce Poverty UPSC Civil Services Examination, Previous Year Question (PYQ) Prelims Q.In a given year in India, official poverty lines are higher in some States than in others because (2019) (a) poverty rates vary from State to State (b) price levels vary from State to State (c) Gross State Product varies from State to State (d) quality of public distribution varies from State to State Ans (b) Q. The Multi-dimensional Poverty Index developed by Oxford Poverty and Human Development Initiative with UNDP support covers which of the following?(2012) Select the correct answer using the codes given below: (a) 1 only (b) 2 and 3 only (c) 1 and 3 only (d) 1, 2 and 3 Ans (a) Mains Q. Though there have been several different estimates of poverty in India, all indicate reduction in poverty levels over time. Do you agree? Critically examine with reference to urban and rural poverty indicators (2015) 4. Iron Age and Stone Age Context:‘ In an announcement that challenges long-held assumptions about the origins of the Iron Age, a new study has found evidence that the use of iron in the area that is now Tamil Nadu dates back to the first quarter of the 4th millennium BCE. This revelation, based on rigorous radiometric dating from multiple international laboratories, positions the region as a pioneering hub of early metallurgy, surpassing global timelines by nearly two millennia. About the Iron Age The Iron Age was the third stage after the Stone Age and the Bronze Age that was established between the years 1200 BC and 600 BC depending on location. It was found in Africa, Europe and Asia during prehistoric times. The Americas were not yet discovered so it did not take place within those areas. Impact on Daily Life Stone Ages 5. Rhodamine B About Rhodamine B Rhodamine B is a chemical dye mainly employed in the textile paper and leather industries because of its intense pink color and luminescence.Its application in edible products is very dangerous. It has been found to cause DNA breakage mutations and even lead to cancer due to the results obtained in several researches. Health Effects of Rhodamine B Global Regulatory Actions Rhodamine B in India Recent Concerns New State Measures The use of Synthetic Dyes India’s Food Safety Ecosystem 6. Enemy Property Act of 1968 Context: The ongoing case regarding the Pataudi family properties linked to Saif Ali Khan, where the government claims ownership due to a family member migrating to Pakistan after partition. Enemy Property Act of 1968 The Enemy Property Act of 1968 is an Indian law that regulates the ownership of properties owned by people or countries considered enemies of India. The act was passed after the 1965 Indo-Pakistani war. Key Features: Amendments Some Important Legal Precedents: 7. Gig Workers Context: The Centre is readying the launch of social security contributions by gig workers. The platforms will be asked to deduct a certain percentage of the payment they make to these workers and deposit it with the Employees’ Pension Scheme. Govt may also top it up with a 3-4% contribution of the deposit made by the platform. Who are Gig Workers? 8. National Company Law Appellate Tribunal (NCLAT) Context: The National Company Law Appellate Tribunal (NCLAT) said that WhatsApp users should have the option to opt out of its data-sharing policy of 2021, which allowed the messaging platform to share
Regulated Trading Before IPO Listing
Context: The Securities and Exchange Board of India (Sebi) is considering asking exchanges to enable a “when listed” section on their platforms where initial public offerings (IPOs) may be traded in the period of three working days between allotment and listing. Sebi’s Proposal Issues and Implications Background on IPO Activity Unlisted Companies Vs Listed Companies
RBI Intervention on Depreciating Rupee
Context: The Reserve Bank of India (RBI) will likely make another windfall payout to the government on account of its intervention in currency markets to stem the decline in the rupee, according to economists. Windfall Payout A windfall payout is an unexpected financial gain, such as a lottery win, inheritance, or bonus. Windfall payouts can also refer to unexpected profits for businesses. RBI Intervention on Degrading Rupee The RBI intervenes in the currency market to stabilize the rupee and reduce its depreciation. Interventions of the RBI include selling dollars in the forex market to increase the value of the rupee, as well as taking short positions in the non-deliverable forward (NDF) market. RBIs Windfall Transfer A Financial Boost for the Government Source of Surplus The surplus is transferred annually to the government after retaining some funds to boost the central banks capital reserves. Context Currency Market Interventions Economic Impact of the Transfer Conclusion The anticipated RBI payout will play a vital role in supporting government finances during a period of fiscal strain. While this windfall boosts resources long term reliance on central bank transfers underscores the need for sustainable revenue generation through enhanced economic activity and structural reforms.
Drone Technology in Agriculture
Context: Salam Kisan (PRYM Solutions) has signed a memorandum of understanding (MoU) with the Maharashtra government to democratise agricultural drone technology. The drone firm has partnered with Microsoft as technology partner. Drone Technology in Agriculture The Indian drone market for agriculture is in its early stages but shows significant potential for growth.In Punjab 93 out of 100 drones made available to farmers through the Indian Farmers Fertiliser Cooperative (IFFCO) under the Centres NAMO Drone Didi scheme are already operationalThese drones priced at Rs 16 lakh each are equipped with 12 litre water tanks. Advantages of Drone Technology in Agriculture Challenges of Adopting Drone Technology Initiatives to Promote Drone Use in Agriculture Conclusion and Way Forward Source: Business Line Namo Drone Didi Scheme
