ASEAN is a political and economic union of 10 Southeast Asian states, with a population of more than 600 million and a land area of over 4.5 million km2. Established to promote political and social stability in post-colonial Asia. ASEAN’s Objectives Recent Developments Member Nations India-ASEAN Cooperation
Current Affairs 14 January 2025
Daily Current Affairs Quiz14 January, 2025 International Affairs 1. China-Russia Relations Context: Trade between China and Russia reached a record high last year, reflecting strong economic ties between the countries despite Western sanctions on Moscow. Combined imports and exports with Russia totalled $244.8 billion in 2024, according to China’s General Administration of Customs, up from $240.1 billion in 2023 History of China-Russia Relations Current Developments in China-Russia Relations Interest Differences between Russia & China Consequence of the Ukrainian War Dual Hegemony Fears SWIFT System Problem Under Dual Dominance Policy India should Follow? Mains PYQ: Q The USA is facing an existential threat in the form of China, that is much more challenging than the erstwhile Soviet Union.” Explain. (UPSC IAS/2021) 2. AI Chips Context: The U.S. unveiled new export rules on advanced computing chips used for artificial intelligence, aiming to facilitate sales to allied nations and further curb access to countries like China. The new rules update controls on chips, requiring authorisations for exports, re-exports and in-country transfers. What are AI chips? Importance of AI Chips compared to General Purpose Hardware? UPSC Civil Services Examination, Previous Year Questions Q. With the present state of development, Artificial Intelligence can effectively do which of the following? (2020) Select the correct answer using the code given below: (a) 1, 2, 3 and 5 only(b) 1, 3 and 4 only(c) 2, 4 and 5 only(d) 1, 2, 3, 4 and 5 Ans: (b) 3. Greenland Context: Greenland Prime Minister Mute Egede said, the country is looking to strengthen its defence and mining ties with the United States, albeit on its own terms, following renewed interest from U.S. President-elect Donald Trump. National Affairs 1. Z-Morh tunnel Context: Prime Minister Narendra Modi, inaugurated the strategic Z-Morh tunnel in Sonamarg area of Ganderbal on 13 January 2025. Key Highlights: 2. Comptroller and Auditor-General (CAG) Context: The Delhi High Court questioned the Aam Aadmi Party (AAP) government for “dragging its feet” on the tabling of the reports of the Comptroller and Auditor-General (CAG) over the city administration before the Assembly. Comptroller and Auditor General (CAG) of India Constitutional Mandate Appointment and Term Duties and Powers Role in Governance Constitutional Provisions Provision Description Article 148 Deals with the appointment, oath, and conditions of service of the CAG of India. Article 149 Specifies the duties and powers of the CAG of India. Article 150 States that the accounts of the Union and States must be kept in a form prescribed by the President on the advice of the CAG. Article 151 Demands that the CAG’s reports on Union accounts are submitted to the President and laid before Parliament; state reports are submitted to the Governor and laid before the State Legislature. Article 279 Says that the CAG certifies the calculation of “net proceeds,” and its certificate is final. Third Schedule Section IV provides the oath or affirmation that is to be administered by the Judges of the Supreme Court and the CAG at the time of assuming office. Sixth Schedule Deals with the maintenance of accounts by District or Regional Councils, as per a prescribed form, in accordance with auditing procedure. Such reports shall be submitted to the Governor, who will present the same before the Council. Previous years UPSC Mains Questions 3. Ayushman Bharat Pradhan Mantri Jan Arogya Yojana Context: Odisha became the latest State to implement the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) after the National Health Authority (NHA), under the Union Health Ministry, signed a memorandum of understanding (MoU) with the Department of Health and Family Welfare, Government of Odisha. Ayushman Bharat – Pradhan Mantri Jan Aarogya Yojana (AB-PMJAY) Ayushman Bharat – Pradhan Mantri Jan Aarogya Yojana (AB-PMJAY) is a landmark initiative launched by Prime Minister Narendra Modi on 23rd September 2018 in Ranchi, Jharkhand. It’s primary aim is to provide accessible, affordable, and equitable healthcare to all citizens, particularly focusing on the vulnerable sections of society. As the world’s largest government-funded healthcare program, AB-PMJAY aspires to cover over 50 crore beneficiaries, making quality healthcare a reality for millions of Indian families. Read more>> 4. Line of Actual Control (LAC) Context: Stating that a “degree” of stand-off prevails along the Line of Actual Control (LAC), Army chief General Upendra Dwivedi said that he had authorised all Corps Commanders to handle issues at the ground level with respect to patrolling and grazing so that these trivial issues can be resolved at the military-level itself. The Line of Actual Control (LAC) The Line of Actual Control, or LAC, is an imaginary line dividing Indian-controlled territory from Chinese-controlled territory. It has become the de facto border between India and China but is not a formally recognized international border. Read more>> 5. Nag Mk-2 Missile Context: The Defence Research and Development Organisation (DRDO) announced that the indigenously developed third-generation fire-and-forget anti-tank guided missile, Nag Mk-2, and the entire system was ready for induction into the Army following successful field firing trials. The Nag Missile The Nag missile is an Indian third-generation, all-weather, fire-and-forget, anti-tank guided missile (ATGM) with an operational range of 500m to 20km. It has a single-shot hit probability of 90% and a ten-year maintenance-free shelf life. It has five variants under development: land, helicopter-launched Nag (HELINA), man-portable Nag (MPATGM), air-launched Nag (NAMICA), and Nag Missile Carrier (NAMICA) “tank buster”. 6. Rat-Hole Mining Context: An oral question from the Supreme Court to the Union government remains unanswered even as rescue workers recovered bodies of four workers from a flooded rat-hole coal mine in Dima Hasao district of Assam. Rat-Hole Mining DefinitionRat-hole mining, a method of manually digging narrow holes in North East India for coal extraction, is banned by the National Green Tribunal but still used by artisanal mining operations in Meghalaya. Legal Status Techniques Employed Coal and Coal Mining in India 7. Indian Diaspora and Pravasi Bharatiya Divas (PBD) Context: PM Narendra Modi hailed the Indian diaspora as “ambassadors to the world,” acknowledging their role in India’s growth and integration into the global community. Key Highlights: Pravasi Bharatiya Divas Pravasi
Disinvestment
Context: The officers and employees of IDBI Bank will hold a protest before Parliament during the Budget session to highlight their demand regarding disinvestment in the bank and protecting the interests of 30 million customers, 20,000 employees, and the nation. Disinvestment Process in India It is the process of selling the government’s stake in public sector enterprises to strategic or financial buyers. The proceeds are used to finance social and infrastructure projects and reduce the fiscal deficit of the government. What is Need For Disinvestment? UPSC Civil Services Examination, Previous Year Question (PYQ) Q1. In the context of governance, consider the following: (2010) Which of the above can be used as measures to control the fiscal deficit in India? (a) 1, 2 and 3(b) 2, 3 and 4(c) 1, 2 and 4(d) 3 and 4 only Ans: (d) Q2. Why is the Government of India disinvesting its equity in the Central Public Sector Enterprises (CPSEs)? (2011) Which of the statements given above is/are correct? (a) 1 only(b) 2 only(c) Both 1 and 2(d) Neither 1 nor 2 Ans: (d) Q3. With reference to the National Investment Fund to which the disinvestment proceeds are routed, consider the following statements: (2010) Which of the statements given above is/are correct? (a) 1 and 2(b) 2 only(c) 3 and 4(d) 3 only Ans: (c)
India in Cyclical Slowdown!
Context: India is going through a cyclical growth slowdown driven by fiscal consolidation and slower credit growth on macro-prudential tightening of consumer loans by the Reserve Bank of India (RBI), a Goldman Sachs report argued. Cyclical Slowdown A cyclical slowdown is a period of lean economic activity that occurs at regular intervals. Such slowdowns last over the short-to-medium term, and can be remedied by relevant fiscal and monetary interventions. Structural Slowdown A structural slowdown is a long-term period of economic weakness resulting from a permanent shift in the economy. The causes may include changes in technology, demographics, or consumer behavior. Understanding Cyclical and Structural Slowdowns Differences
Fintech Association for Consumer Empowerment (FACE)
Context: In a data release, which comes amid concerns on the personal loans front, which have even led to actions from RBI to curb lending in it, Fintech Association for Consumer Empowerment (FACE) said the loan outstanding dropped to ₹66,683 crore. Fintech Association for Consumer Empowerment (FACE) FACE is a Self-Regulatory Organisation in the FinTech sector recognized by RBI, established in September 2020. FACE aims to build a consumer-centric FinTech ecosystem in India, with financial services that are safe, suitable, and transparent. Some of the objectives of FACE include enabling financial services that give priority to consumer needs and safety. Role of FACE in FinTech Ecosystem Challenges Facing the FinTech Industry Achievements and Contributions of FACE Fintech In India Fintech Repository
Direct and Indirect Taxes in India
Context: Growth in India’s net direct tax collections slowed marginally over the past month to touch 15.88% by January 12, from a 16.5% uptick as of December 17. Direct Tax in India Significance of Direct Tax Government Steps to Strengthen Direct Taxes Indirect Tax Indirect Tax is that type of tax for which the Impact of Tax and Incidence of Tax fall on different persons or entities. Indirect Taxes are, generally, levied on goods and services. They differ from direct taxes as they are not levied on a person who pays directly to the government. Instead, they are levied on products/services and are collected by the person selling the product. Characteristics of Indirect Tax Types of Indirect Tax Other Taxes in India
Wholesale Price Index (WPI) & Consumer Price Index (CPI)
Inflation India’s retail inflation eased a bit to a four-month low of 5.22% in December from 5.5% in November, with food inflation cooling marginally from 9.04% in November to 8.4% last month, the National Statistics Office. Wholesale Price Index (WPI) Consumer Price Index (CPI) New CPIs Comparative Analysis of Wholesale Price Index (WPI) and Consumer Price Index (CPI) Producer Price Index (PPI) Basic Concepts of Inflation
Indian Diaspora and Pravasi Bharatiya Divas (PBD)
Context: PM Narendra Modi hailed the Indian diaspora as “ambassadors to the world,” acknowledging their role in India’s growth and integration into the global community. Key Highlights: Pravasi Bharatiya Divas Pravasi Bharatiya Divas or Overseas Indian Day is an official celebration in India since 2003, marking the Overseas Indian contributions to the nation’s development as well as on the occasion when Mahatma Gandhi returned to Mumbai from South Africa in 1915. Indian Diaspora Overseas Indians, also called Non-Resident Indians (NRIs) , The Overseas Citizenship of India (OCI) and People of Indian Origin (PIOs), are Indians living or born abroad.
Non-Resident Indian (NRI)
A Non-Resident Indian (NRI) is a citizen of India living outside the country. In fact, the term NRI is also sometimes used to describe a person of Indian origin living outside India.
Comptroller and Auditor-General (CAG)
Context: The Delhi High Court questioned the Aam Aadmi Party (AAP) government for “dragging its feet” on the tabling of the reports of the Comptroller and Auditor-General (CAG) over the city administration before the Assembly. Comptroller and Auditor General (CAG) of India Constitutional Mandate Appointment and Term Duties and Powers Role in Governance Constitutional Provisions Provision Description Article 148 Deals with the appointment, oath, and conditions of service of the CAG of India. Article 149 Specifies the duties and powers of the CAG of India. Article 150 States that the accounts of the Union and States must be kept in a form prescribed by the President on the advice of the CAG. Article 151 Demands that the CAG’s reports on Union accounts are submitted to the President and laid before Parliament; state reports are submitted to the Governor and laid before the State Legislature. Article 279 Says that the CAG certifies the calculation of “net proceeds,” and its certificate is final. Third Schedule Section IV provides the oath or affirmation that is to be administered by the Judges of the Supreme Court and the CAG at the time of assuming office. Sixth Schedule Deals with the maintenance of accounts by District or Regional Councils, as per a prescribed form, in accordance with auditing procedure. Such reports shall be submitted to the Governor, who will present the same before the Council. Previous years UPSC Mains Questions