January 4, 2024 | Your One-Stop Solution for Daily Preparation
Monsoon | Explained
The monsoon, a phenomenon of paramount importance to India, is a seasonal wind that brings a distinct pattern of rainfall to the subcontinent. This natural occurrence plays a pivotal role in shaping the country's climate and has profound implications for various sectors of the economy and society.
Highlights of the Day
1. Supreme Court Directs SEBI Probe into Hindenburg's Adani Allegations, Upholds Market Stability
The Supreme Court directed SEBI and investigating agencies to probe Hindenburg Research's conduct in the Adani Group case. Despite acknowledging a decline in individual investor wealth, the court found no systemic market risk from Adani stock volatility. It upheld SEBI's ongoing investigations, dismissing calls for a transfer to other agencies. The court rejected claims of regulatory loopholes, stating that amendments tightened regulations. It discredited reliance on external reports and cautioned against filing PILs without adequate research. The court urged SEBI to conclude pending investigations within three months, emphasizing the need for a thorough yet timely resolution[1].
2. Cyber Crime Surge: India Faces Threats from China and Southeast Asia
Rajesh Kumar, CEO of India's Cyber Crime Coordination Centre, revealed that 50% of daily cyber-crime complaints stem from China, Cambodia, and Myanmar. India has witnessed a surge in cyber fraud, with 15.5 lakh complaints in 2023, totaling ₹10,319 crore in losses from April 2021 to December 2023. The government blocked ₹1127 crore but faces challenges in returning funds to victims. Key concerns include investment app scams, illegal loan apps, and OTP frauds. Efforts involve blocking SIM cards, websites, and applications, while collaboration with banks and legal measures is underway to address fund retrieval. Hotspots include Haryana, Telangana, and Delhi.[2].
3. NSIL's GSAT-20: Revolutionizing Connectivity in India with Falcon 9 Launch
India's NSIL is set to launch GSAT-20, a high-throughput Ka-band satellite, in Q2 2024, meeting demands for broadband, IFMC, and cellular backhaul services. Weighing 4700 kg, GSAT-20 offers 48 Gbps HTS capacity with 32 beams covering Pan-India, including remote regions. In line with India's space reforms, NSIL owns, operates, and funds satellites, following a demand-driven model. GSAT-20, realized through ISRO, will be launched by SpaceX's Falcon 9 under a contract. This marks NSIL's second demand-driven satellite mission, supporting connectivity in underserved areas[3].
4. Deceleration in Indian Manufacturing: Slowest Growth Since October 2022
In December 2023, India's manufacturing sector experienced a notable slowdown, marked by the slowest output and new order growth since October 2022. International orders also expanded at the joint-slowest rate in eight months. Input costs rose modestly, while inflation in output charges reached a nine-month low. Despite marginal increases in business volumes and stable employment, the overall manufacturing capacity showed little strain. The 'year-ahead outlook' was optimistic, but the quarter's average was the lowest since Q1 2022-23. Fee inflation exceeded input prices for the fourth consecutive month, driven by the pass-through of absorbed cost burdens in sectors like chemicals, paper, and textiles[4].
5.India's Growth Outlook Upgraded Amidst Global Challenges: Factors, Risks, and Consumption Dynamics
The rating firm upgraded India's growth forecast, citing factors like deleveraged corporate and banking balance sheets, robust business and software services exports, and resilient remittances despite global challenges. However, risks such as geopolitical tensions and supply chain disruptions may limit GDP growth to 6.7%, below the Reserve Bank of India's projection of 7%. The rating agency emphasized the importance of real wage growth for lower-income households to achieve a sustainable and widespread consumption recovery. It expects private final consumption expenditure (PFCE) to grow at 5.2%, down from 7.5% in the previous year, with a potential uptick in the second half[5].
Source: The Hindu | TOI
Practice Questions for Prelims
Q1: Consider the following statements about the Directive Principles of State Policy:
1. Directive Principles are enforceable by law.
2. They aim to establish a welfare state and promote social and economic democracy.
3. The Parliament is not bound to implement Directive Principles.
Which statements are true?
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) All of the above
Q2: Consider the following statements about Fiscal Deficit and Public Debt:
1. Fiscal Deficit indicates the total borrowing requirements of the government.
2. Public Debt includes both internal and external borrowings by the government.
3. Fiscal Deficit is a component of Public Debt.
Which statements are true?
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) All of the above
Q3: Dark Matter' in the universe is inferred to exist primarily due to its:
a) Absorption of light
b) Gravitational effects on visible matter
c) Reflection of electromagnetic waves
d) Emission of cosmic rays
Q4: The 'Western Disturbances' play a significant role in the weather patterns of which region in India?
a) Northern Plains
b) Western Ghats
c) Eastern Ghats
d) Deccan Plateau
Q5: The 'Bhitarkanika National Park,' known for its mangrove forests, is located in which Indian state?
a) Odisha
b) West Bengal
c) Andhra Pradesh
d) Kerala
Today’s Question for Mains Answer Writing
Examine the geographical factors governing the onset and variability of the Indian Monsoon. Elaborate on the role of topography, oceanic conditions, and global atmospheric phenomena in shaping the patterns of the monsoon.
Need help in writing or evaluation?
Note: For answer key and explanation of daily practice questions, join us at: t.me/tinkerchild
Comments