July 23, 2023 | Your One-Stop Solution for Daily Preparation
India’s Economic Reforms | Explained
Explore the transformative economic journey of India in the 1990s through liberalization, privatization, and globalization. These groundbreaking reforms aimed to open up the economy, encourage private enterprise, and integrate India into the global market. The liberalization dismantled restrictive regulations, reduced import tariffs, and attracted foreign investments. Privatization aimed to enhance competitiveness by reducing the government's role in business and introducing public-private partnerships. Globalization led to trade agreements, export-oriented growth, and technological advancements. The reforms brought significant economic growth, foreign investment, and structural changes. However, challenges of inequality, social implications, and environmental concerns necessitated a focus on sustainable and inclusive development.
Highlights of the Day
1. Rapid Spread of Invasive Weed Threatens Elephant Habitats in Tamil Nadu The invasive aquatic weed Ludwigia peruviana is endangering elephant habitats and foraging areas in Valparai, Tamil Nadu, leading to a rise in human-elephant conflicts. The weed is rapidly spreading across swamps, disrupting the balance of the ecosystem and limiting the growth of palatable grass and plants for elephants and other animals. Most of these swamps are situated in private estates, making the removal process challenging. Failure to remove it correctly can exacerbate the problem. Urgent mapping and containment efforts are required to protect the elephants and preserve the unique habitats of Valparai. The Forest Department and estate managements hold responsibility for conservation actions [1].
2. INS Kirpan Decommissioned from Indian Navy, Handed Over to Vietnam as Gift Indian Navy Chief R. Hari Kumar emphasized the vast potential of India’s shipbuilding industry to the Vietnam People’s Navy (VPN), encouraging them to explore this option. During the decommissioning ceremony of the indigenous missile corvette INS Kirpan, India offered it as a fully-operational corvette to a friendly foreign country for the first time. The transfer symbolizes India’s status as a “Preferred Security Partner” in the Indian Ocean Region and strengthens bilateral relations between the two navies. Both countries believe in a free, open, and inclusive Indo-Pacific and have signed the ‘Joint Vision Statement on India-Vietnam Defence Partnership towards 2030’ to enhance security collaboration in the region [2].
3. Conservation Milestone: Critically Endangered Vultures Successfully Nest in the Wild After Captive Release in India In a significant achievement for vulture conservation in India, eight critically endangered Oriental white-backed vultures were released into the wild from a breeding center in Pinjore, Haryana, and after close to three years, five have survived and two have successfully nested in the Shivalik range near the Himalayas. This milestone is a relief to ornithologists who had been concerned about the negative effects of veterinary non-steroidal anti-inflammatory drugs (NSAIDs) on vultures. Illegal use of banned drugs like diclofenac in livestock had led to vulture deaths. The success has prompted the Bombay Natural History Society (BNHS) to start constructing soft release centers in various regions to further boost vulture conservation efforts. The recent recommendation to ban certain veterinary drugs by the Drugs Technical Advisory Board (DTAB) is seen as a positive step towards protecting vultures from harm [3].
4. Ancient Genomic Data Suggests Early Interaction Between Copper Age Farmers and Steppe Pastoralists An analysis of ancient human genomic data suggests that Copper Age farmers and steppe pastoralists interacted 1,000 years earlier than previously believed. Genetic data from 135 ancient individuals dating between 5,400 and 2,400 BC, from southeastern Europe and the northwestern Black Sea region, reveals genetic continuity between Neolithic and Copper Age groups. However, from around 4,500 BC, groups from the northwestern Black Sea region showed ancestry from both Copper Age and steppe-zone populations, indicating cultural contact and mixing earlier than thought. This interaction may have contributed to the rise and expansion of pastoralist groups around 3,300 BC, impacting the demise of the Copper Age settlements [4].
5. G20 Fails to Reach Consensus on Fossil Fuel Phase-Down The G20 major economies failed to reach a consensus on phasing down fossil fuels during their four-day meeting in Goa. Some countries objected to the idea, advocating for options like carbon capture and storage instead. The outcome document and chair summary were adopted, with disagreements on seven out of 29 paragraphs. Fossil fuels were acknowledged to play a significant role in the global energy mix and addressing energy poverty. However, there was no unanimity on the matter of fossil fuel phase-down, with some emphasizing the importance of abatement and removal technologies. The meeting also addressed climate finance mobilization and the Ukraine-Russia conflict with differing views among countries [5].
Source: The Hindu | Indian Express
Practice Questions for Prelims
Q1: Which of the following Union Territories in India has a legislative assembly and a council of ministers? a) Andaman and Nicobar Islands b) Dadra and Nagar Haveli and Daman and Diu c) Lakshadweep d) Puducherry
Q2: The ‘Keibul Lamjao National Park,’ known as the only floating national park in the world, is located in which Indian state? a) Assam b) Manipur c) Mizoram d) Tripura
Q3: Which of the following statements about the ‘Ayushman Bharat’ scheme is correct?
a) It aims to provide universal basic income to all citizens of India. b) It is a program under the Ministry of Education to promote skill development. c) It aims to provide financial assistance to start-ups and small-scale industries. d) It is a health insurance scheme that provides coverage for secondary and tertiary healthcare to vulnerable sections of the society.
Q4: Which of the following statements about the “RBI’s Monetary Policy” is/are correct?
I. The Monetary Policy Committee (MPC) of RBI is responsible for formulating the monetary policy. II. The MPC determines the Repo Rate, which affects the lending and borrowing rates in the economy. III. The RBI follows a contractionary monetary policy during periods of high inflation.
Select the correct answer using the codes below:
a) I and II only b) I and III only c) II and III only d) I, II, and III
Q5: Which of the following statements about the “Ganges River Dolphin” is/are correct?
I. It is a freshwater dolphin species found in the Ganges and Brahmaputra rivers. II. Ganges River Dolphin is categorized as an endangered species by the IUCN. III. Its unique features include a long beak and a hump on its back.
Select the correct answer using the codes below:
a) I and II only
b) I and III only
c) II and III only
d) I, II, and III
Today’s Question for Mains Answer Writing
Analyze the ethical implications of using Artificial Intelligence (AI) in various fields such as healthcare, finance, and autonomous vehicles. Discuss the potential benefits and risks associated with AI adoption and the importance of establishing ethical guidelines to govern AI development and deployment. (Word limit: 250 words).
Need help in writing or evaluation?
What we see matters
Some insightful observations from past UPSC papers:
A noticeable trend in recent UPSC prelims has been the inclusion of questions related to various reports and indices published by international organizations and India’s performance in those reports.
Note: For answer key and explanation of daily practice questions, join us at: t.me/tinkerchild
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