September 5, 2023 | Your One-Stop Solution for Daily Preparation
Achieving Sustainable Development Goal 9 | Explained
Discover India's progress towards Sustainable Development Goal 9 - Industry, Innovation, and Infrastructure. Explore key statistics, challenges, and initiatives driving economic growth and sustainability.
Highlights of the Day
1. GST Revenues Show Strong Growth in 2023-24, but Slowdown Raises Concerns
GST revenues in 2023-24 have grown by 11.3% in the first five months, reaching an average monthly collection of ₹1.66 lakh crore. April saw a record high of ₹1.87 lakh crore. However, growth has slowed to 10.8% in July and 10.76% in August, the slowest since July 2021. August's revenues hit a three-month low of ₹1.59 lakh crore. While goods imports are recovering, domestic transactions and services imports grew slower. The festive season may boost revenue, but high inflation could affect spending patterns. Mandatory e-invoicing for large firms is expected to improve tax compliance, and there's an opportunity to simplify the GST structure to fight inflation [1].
2. RBI Governor Advocates Central Bank Digital Currencies for Efficient Cross-Border Payments
RBI Governor Shaktikanta Das highlighted the challenges in cross-border payments, including high costs, slow processing, limited access, and lack of transparency. He emphasized that Central Bank Digital Currencies (CBDCs) could enhance efficiency in cross-border payments, making them faster, cheaper, and more transparent. India is among the countries piloting CBDCs in wholesale and retail sectors, aiming to expand these initiatives. Das noted CBDCs' potential to reduce illicit finance risks and encourage the use of local currencies in cross-border payments, benefitting emerging economies. He also stressed the need for technology solutions to facilitate multilateral cross-border CBDC platforms, emphasizing their role in making payments more efficient [2].
3. Genomic Analysis Reveals Population Bottleneck Threatened Early Human Existence
A genomic analysis technique has unveiled a population bottleneck in human history that threatened our existence. Researchers found that around 1,280 breeding individuals sustained the human population for 117,000 years. Using modern human genome sequences and a new method called FitCoal, they estimated the population's history. This bottleneck resulted in significant loss of genetic diversity, possibly due to glaciation events, temperature changes, droughts, and the loss of species that were food sources. Around 65.85% of current genetic diversity may have been lost during this period, but it may have also contributed to human speciation and the formation of chromosome 2. Researchers aim to explore how this small population survived in challenging conditions [3].
4. IPBES Study Reveals Invasive Alien Species Threatening Biodiversity and Economy Globally
The Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES) has conducted an extensive study revealing that there are over 37,000 alien species, introduced by human activities, including 3,500 invasive alien species. These invasive species have played a significant role in 60% of global plant and animal extinctions. IPBES identified invasive species as one of the top five drivers of global biodiversity loss, alongside land and sea use changes, direct organism exploitation, climate change, and pollution. The rise in invasive species is attributed to increased human travel, trade, and global economic expansion, with annual costs exceeding $423 billion in 2019. Climate change may further exacerbate the problem [4].
5. Extreme Weather Amplifies Child Marriage Crisis, Study Reveals
Extreme weather events are exacerbating child, early, and forced marriages (CEFM) by intensifying gender inequality and poverty, according to a study published in the journal International Social Work. The review of 20 studies in low- and middle-income countries found that CEFM often becomes an adaptive coping strategy during extreme weather events, as families seek to reduce economic vulnerabilities. Factors such as bride price and dowry play a role in the link between CEFM and extreme weather. Gender inequality remains the primary driver of child marriage, and the study emphasizes the importance of education and financial empowerment for women and girls to combat the practice [5].
Source: The Hindu | Indian Express | DownToEarth
Practice Questions for Prelims
Q1: Examine the following statements about inflation:
I. Inflation refers to the decline in the purchasing power of a currency over time.
II. Hyperinflation is a moderate and manageable form of inflation.
III. Central banks use monetary policy to control inflation.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) I, II, and III
Q2: Examine the following statements about the Fundamental Rights in the Indian Constitution:
I. Fundamental Rights are enforceable only against the actions of the state, not against private individuals.
II. The Right to Freedom includes freedom of speech and expression.
III. The Constitution of India originally included seven Fundamental Rights.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) I, II, and III
Q3: Consider the following statements about Genetic Engineering:
I. Genetic engineering involves the modification of an organism's genetic material using biotechnology.
II. GMOs (Genetically Modified Organisms) are organisms whose genetic material has been altered in a way that does not occur naturally.
III. Genetic engineering has no applications in agriculture.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) I, II, and III
Q4: Examine the following statements about the Solar System:
I. The largest planet in the Solar System is Jupiter, which has a prominent system of rings.
II. Neptune is the farthest planet from the Sun in our Solar System.
III. The Kuiper Belt is a region in the Solar System that contains mostly rocky planets.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) I, II, and III
Q5: Examine the following statements about Climate Zones:
I. The Tundra climate zone is characterized by freezing temperatures, permafrost, and a lack of trees.
II. The Mediterranean climate zone experiences hot, dry summers and mild, wet winters.
III. The Rainforest climate zone is found primarily at high altitudes and is characterized by sparse vegetation and extreme cold.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) I, II, and III
Today’s Question for Mains Answer Writing
Examine the impact of digital currencies on traditional monetary systems and the challenges they pose to central banks. Suggest regulatory measures to address these challenges while fostering innovation in the financial sector. (Word limit: 250 words)
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