December 27, 2023 | Your One-Stop Solution for Daily Preparation
CRISPR | Explained
Dive into the groundbreaking world of CRISPR, where Cas9 acts as a molecular scissor for pinpoint genetic editing. Explore its vast applications in medicine, agriculture, and biotechnology, while navigating the ethical considerations and challenges linked to this transformative tool.
Highlights of the Day
1. Fiscal Deficit Set to Surpass GDP Target, Reaching 6% Amid Surging Expenditure
India's fiscal deficit is likely to exceed the 5.9% GDP target, possibly hitting 6%. Despite robust tax collections offsetting disinvestment shortfalls, increased spending may breach estimates by ₹2 lakh crore. Recent Parliamentary approval for additional spending of ₹53,378 crore raises the total commitment for 2023-24 to ₹45.6 lakh crore. Anticipating a second grant demand, expenditure could surge to ₹37.1 lakh crore, significantly surpassing the budget. Factors contributing to this spike include higher spending by select Ministries and reclaiming over ₹28,000 crore to the Contingency Fund. Priority sectors like subsidies and employment guarantee schemes witness substantial increases, with the latter receiving a ₹14,524 crore top-up [1].
2. Q2 FY24 Current Account Deficit Narrows to $8.3 Billion, Driven by Trade Improvements
India's Q2 FY24 Current Account Deficit (CAD) hit $8.3 billion, 1% of GDP, narrowing from $9.2 billion (1.1%) in Q1 and $30.9 billion (3.8%) a year ago. The decline is attributed to a reduced merchandise trade deficit, dropping to $61 billion from $78.3 billion. Services exports rose by 4.2%, boosting net service receipts. Despite increased primary income outflow and FDI turning to outflow, FPI dropped to $4.9 billion. While non-resident deposits surged to $3.2 billion, external commercial borrowings recorded a $1.8 billion outflow. A surprise improvement, but expectations suggest a likely widening to $18-20 billion in the next quarter [2].
3. India and Russia Forge Key Agreements for Kudankulam Nuclear Plant Expansion
India and Russia solidified their partnership, sealing significant deals for the Kudankulam nuclear plant. Jaishankar highlighted their robust collaboration in defense, space, and nuclear energy, emphasizing Russia's special role. Both nations aim for balanced, sustainable cooperation across various sectors. Discussions included starting negotiations for a free trade agreement and enhancing connectivity. Despite global concerns over Russia, their longstanding relationship remains steadfast. Future talks with Lavrov aim to deepen bilateral and international cooperation, reflecting a resilient and enduring strategic partnership [3].
4. Iran Ramps Up Near Weapons-Grade Uranium Production, IAEA Reports
Iran escalated near weapons-grade uranium production, accelerating enrichment to 60%, a step from 90% weapons-grade purity. The International Atomic Energy Agency reported the recent surge, reversing a slowdown that began mid-2023. Verification showed production up to 9kg per month from Natanz and Fordow, reinstating levels seen earlier. Enrichment involves boosting uranium-235, vital for nuclear fission, raising concerns over Iran's nuclear intentions [4].
5. India Forecasts $16.5 Billion Surge in Renewable Energy Investments by 2024
India anticipates an 83% surge, totaling $16.5 billion, in renewable energy investments by 2024, aligning with its aim for 500 GW renewable capacity by 2030. The nation's strategy targets reducing fossil fuel-based power generation to under 50%. However, projections suggest non-fossil fuels could surpass this, reaching 65% by 2030. With plans to add 25 GW of renewable capacity in 2024, including a focus on green hydrogen, India aims to diminish diesel reliance, particularly in transportation. The National Green Hydrogen Mission, approved earlier, signifies this shift, allocating ₹19,744 crore toward this initiative [5].
Source: The Hindu | Indian Express
Practice Questions for Prelims
Q1: Match the following islands with their respective countries/regions:
1. Tasmania A. Australia
2. Corsica B. Italy
3. Sumatra C. Indonesia
4. Sicily D. France
a) 1-C, 2-D, 3-A, 4-B
b) 1-A, 2-D, 3-C, 4-B
c) 1-A, 2-B, 3-C, 4-D
d) 1-C, 2-A, 3-D, 4-B
Q2: Match the following landforms with their characteristics:
1. Mesa A. Steep-sided hill with a flat top
2. Butte B. Narrow and steep-sided valley
3. Canyon C. Isolated hill with steep sides
4. Plateau D. Elevated flatland
a) 1-C, 2-A, 3-B, 4-D
b) 1-A, 2-C, 3-B, 4-D
c) 1-D, 2-A, 3-C, 4-B
d) 1-B, 2-D, 3-A, 4-C
Q3: The 'Levant' refers to the region encompassing countries around which sea?
a) Black Sea
b) Caspian Sea
c) Mediterranean Sea
d) Red Sea
Q4: The 'Sarkaria Commission' was appointed to:
a) Review the functioning of the Panchayati Raj institutions
b) Look into Centre-State relations
c) Recommend electoral reforms
d) Examine reservation policies in government jobs
Q5: In economics, the Lorenz curve is primarily used to illustrate:
a) Income distribution inequality
b) Demand and supply equilibrium
c) Production possibility frontier
d) Consumer surplus and producer surplus
Today’s Question for Mains Answer Writing
Discuss the ethical implications and potential societal impacts of CRISPR-Cas9 technology in the field of genetic engineering. How can regulatory frameworks balance innovation with ethical considerations in utilizing CRISPR for genetic modifications?
Need help in writing or evaluation?
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