Daily Prelims Notes 8 October 2021
- October 8, 2021
- Posted by: admin1
- Category: DPN
Daily Prelims Notes
8 October 2021
Table Of Contents
- Azadi ka Amrit Mahotsav Series
- Baltic Exchange
- Capital-to-Risk (Weighted) Assets Ratio (CRAR)
- Highest Loss In Terrestrial Water Storage
- India’s ambitious ethanol plan
- Brasilia Declaration on Road Safety
- Spike In Crude Prices
- Study finds high level of pharma contaminants in Cauvery
- Indian Space Association (ISpA)
- 35 oxygen plants set up under PM CARES
- Multidimensionally Poor
- Nobel Prize in Literature 2021
- Genetic Proof for Domestication of Sheep
- People’s Plan Campaign
- Ajeya Warrior
- Rashtriya Indian Military College (RIMC)
- It was a campaign in defence of the Caliph of Turkey. After the armistice in 1918 it was feared that the Caliph would be deprived of his powers.
- The peace terms (Treaty of Sevres, August 1920) crippled the power of Turkey and the deepest religious feelings of the Muslims were outraged. As a result there was a considerable unrest and dissatisfaction in India also.
- A campaign in defence of the Caliph was launched under the leadership of Shaukat Ali, Muhammad Ali and Maulana Abul Kalam Azad.
- In 1920 the Indian National Congress supported the Muslims’ contention and under the guidance of Mahatma Gandhi, a non-violent non-cooperation campaign was launched.
- Gandhi’s suspension of the non-cooperation movement on account of the Chauri Chaura incident, and his arrest in March 1922 weakened the Khilafat movement.
- It was further undermined when Mustafa Kamal Ataturk drove the Greeks from western Asia Minor in 1922 and deposed the Turkish Caliph in the same year; it finally collapsed when he abolished the Caliphate altogether in 1924.
Harsha Chhina Mogha Morcha (1946-47)
- Harse Chhina Mogha Morcha was an agrarian revolt in Punjab that took place in 1946– 1947.
- The campaign was launched in June 1946 by remodelling the moghas (canal outlets) under the leadership of the Communist Party, which was later joined by all major political parties of the time, to stand against the decision of the British Government to decrease the supply of irrigation water to farmers.
- As a result of this movement, the British Government agreed to provide more farming water to agriculturists as per the previous agreed terms.
Arya Samaj Movement in the erstwhile Hyderabad State (1938-39)
- The centre of Arya Samaj came into existence in the city of Hyderabad in the year 1892.
- Sultan Bazar became active centre of the Arya Samaj.
- With the election of Pandit Keshav Rao Koratkar (a great patriot and Chief justice of Hyderabad High Court) as the president of Hyderabad state Arya Samaj in 1905, it received a new magnitude in creating political consciousness in the minds of people against the autocratic rule of the Nizam.
- By 1938 Arya Samaj had 250 branches in the State, twenty of which were located in the twin cities of Hyderabad and Secunderabad.
- In due course of time, the great political leaders of Hyderabad State namely Swami Ramanand Tirth, Kamble Wale of Udgir, M. Channa Reddy, P.V. Narasimha Rao, Ramachandra Veerappa of Bidar, K.V. Narasing Rao, Vidyadhar Guruji of Gulbarga, Pandit Taranath of Raichur and so many nationalists in Osmanabad, Warangal, Zahirabad, Adilabad, Basavakalyan, Aurangabad and Beed were influenced by the activities of Arya Samaj and joined its movement to assert civil and religious rights of the non-Muslims.
- The Nizam Government in a bid to establish the Islamic State denied opportunities for the people of non-ruling class to enjoy basic civil and human rights.
- Arya Samaj, under these circumstances could not be a silent spectator.
- The Nizam mixed religion and politics and encouraged the ‘Ittehad’ to start Tableegh, and issued farman (order) and passed the acts called Mafusa and GayarMafusa.
- The first one protected the property of the Muslims and those of converted, the second Act empowered muslims have enslaved the Hindus, by purchasing the lands of the Hindus who mortgaged them on their debts.
- Hindus propagated the message of Arya-Samaj;
- (a) Equality of all human beings,
- (b) Condemnation of caste system,
- (c) Equal opportunities of education and refinement,
- (d) The message of ‘Satyarth Prakash’ i.e., “Back to Vedas”.
- When Nizam turned a deaf ear to the demands of the Arya Samaj on 24th October 1938, the Arya Samaj decided to offer Satyagraha against the Nizam Government. Arya Samajists from Hyderabad Karnataka, participated in Satyagraha under the leadership of Mahatma Naryana Swami and Kunwar Chandrakaranji at Gulbarga on 4 February and 2 March, 1939 respectively.
- The spirit of martyrdom of Arya Samajists continued to be exhibited in 1942 “Do or Die” movement, “Join Union” movement of 1946-47 and “Border” movement of 1947-48.
- This saga of sacrifice provoked the sentiments of the people and inspired them to develop the political consciousness. About seventy per cent of the nationalists of Hyderabad Karnataka belonged to the Arya Samaj.
Madurai Conspiracy Case (1945-47)
- A & F Harvey mills was the biggest mill in Tamil Nadu. Madurai Labour Union (MLU) was the only union in the mill which was led by S.R.V. Naidu, a confidant of Harvey mills management.
- An anti-Communist by nature, he refused to enrol Communist workers in his union.
- Ramamurti at the beginning did not want to start a rival union. He insisted in the democratic functioning of the MLU by enrolling all workers irrespective of their political affiliations.
- When left with no other alternative, Ramamurti decide to start the All India Trade Union and it started functioning from the month of October with Ramamurti as its president.
- When elections through secret ballot to find out the representative character of the union were held, Communist union won with a thumping majority and got recognition. This victory became a morale booster for the Communist Party in Madurai district and its influence began to spread to other areas.
- The British Government wanted to curb the Communist movement in Madurai. They arrested Ramamurti, N. Sankaraiah, K. T. K. Thangamani and many others and started Madurai Conspiracy case.
- The main charge was that Ramamurti and other leaders were hatching a conspiracy at the party office to physically eliminate other trade union leaders.
- During the enquiry, Ramamurti proved that the main witness was a cheat and a case for himself, and other were represented by leading lawyers of Madurai.
- The special judge, who enquired the case, came to the jail premise on the 14August 1947, on the eve of Independence and released all those involved in the case and severely criticised the Government for launching this case against respected leaders of the workers.
- Ramamurti and others were released from jail and thousands of workers with red flag who waited outside the jail gate took them in procession.
The Gurudwara Reform Movement (1920-25)
It includes the following –
- Taran Taran Morcha
- A mandate was issued from the Akal Takhat summoning an assembly of the Sikhs to meet on 15 November, 1920 to elect a representative body of the Panth, to govern and control the Golden Temple and to reform other shrines.
- But meanwhile the Government of the Punjab, with the assistance of the Maharaja of Patiala, had constituted a Committee with the motive of foiling the attempt of the Sikhs.
- Despite the alliance of the Mahants, the Government and hired detachments, to prevent the Akalis from convening their meeting, the Akalis were successful in organizing the Shiromani Gurdwara Prabandhak Committee to take up the administration of their gurdwaras.
- The conflict between the Akalis and the Government ensued in January, 1921 in Tarn Taran. It was provoked by the Mahants. The Morcha of Tarn-Taran marked the beginning of Gurdwara Reform Movement.
- Hazara Singh of village Aldinpur descendent of Sardar Bhagat Singh was the first martyr to the cause of Gurdwara reforms.
- Nankana Tragedy of February (1920)
- Nankana Sahib, being the birth place of Guru Nanak has the most important position among the Sikh places of religious worship.
- It was controlled by Mahant Sadhu Ram and others. These Mahants gradually grown into wealthy feudal landlords. They deprived the poor peasantry of their rights.
- The Mahants misappropriated the Community’s income from the Gurdwaras and their land and flouted the traditions and customs of the Sikhs.
- The local Sikhs tried to curb the evil practices adopted by the Mahants, but of no avail, as the Mahants had the backing of the local British officials.
- Sikh leaders made attempts to bring mahant to the negotiation table but their efforts failed.
- On February 21, 1921, the unarmed Sikh leaders (jatha) entered Nankana Sahib to take possession of gurudwara, they were attacked by the armed mahants. This led to the massacre.
- The Golden Temple Ke Affairs (Morcha Chabian Saheb)
- The Morcha Chabian campaign for the recovery of the keys of the Golden Temple treasury, marked a dramatic episode in the Sikh agitations in the early 1920s, to reform the management of their places of worship.
- Guru ka Bagh Morcha
- In 1922 a fresh clash occurred between the Akalis and the Mahants at Guru Ka Bagh, a temple situated about ten miles north of Amritsar.
- On the complaint of Mahant Sunder Das that under the agreement with the Shiromani Gurdwara Prabandhak Committee (S.G.P.C.) only the Gurdwara was surrendered and not the adjoining land from where the Sikhs were cutting wood for their community kitchen, when the police arrested a few Sikhs for this offence, the Akalis launched a morcha which continued for twenty days.
- Calm and cool courage and marvellous self-restraint displayed by the Akalis fetched them hearty felicitations of Mahatma Gandhi and the Indian National Congress.
- Babar Akali Movement
- The Babbar Akali Movement took place during the years 1921 to 1925. The majority of the Babbar Akalis were returned immigrants from Canada.
- Some of them had actively participated in the Gadhar Movement and were also known as Gadharites (Gadhari Babbeys).
- The Babbar Akalis were Guru Sikhs, who were against the imperialist policies of the British Government. The Babbar Akalis were against the Gandhi formula of non-violence and non-cooperation.
- They were upset because of the tragedy of Nankana Sahib in which hundreds of innocent Sikhs were massacred.
- They rejected the peaceful struggle for reformation in the Sikh shrines and decided to lead their movement separately without the company and cooperation of the dominant Akali leadership.
- Their main objective was to “eliminate” certain officials and nonofficial condemned as enemies of the Khalsa Panth.
- Babbar Akalis declared it necessary to teach a lesson by eliminating the toadies (stooges) and those who were responsible for the massacre of the Akalis at Nankana Sahib.
- The continuous “eliminations” created panic among the toadies and the Government authorities. Numbers of village officials and other loyalists to the Government started expressing fear for their lives and the desire to resign from their posts.
- The British Parliament raised questions about the deteriorating condition of law and order in the Punjab.
- Upon pressure of the British Parliament, London, the government of the Punjab introduced more stringent measures against the Babbars. Hideout places of the Babars were raided.
- By the middle of 1924 all the important Babbar’s were either killed or arrested.
- However, the Akali leaders and the Congress leaders like Mahatma Gandhi did not approve of the Babbar’s programme of violence.
- The Babbar Akali Movement took place during the years 1921 to 1925. The majority of the Babbar Akalis were returned immigrants from Canada.
- Jaito Morcha
- During the Akali movement in Punjab, Maharaja Ripudaman Singh of Nabha who was a sympathiser of the Akalis, observed the Martyrs Day to honour all those who laid down their lives at Nankana Sahib. This act of the Maharaja was resented by the British Government.
- On the pretext that he was not having good relations with the Patiala State, he was forced to abdicate. This compelled the Sikhs to launch an agitation which is known as Jaito Da Morcha.
- Bhai Pheru Morcha
- Bhai Pheru Morcha was one among the series of campaigns in the Sikhs’ agitation in the 1920’s for the reformation of their holy places.
- Gurdwara Sangat Sahib, located in Mien ke Maur in Lahore district, dedicated to the memory of Bhai Pheru (1640-1706).
The Ghadr Movement
- There were several factors both external and internal, responsible for the origin of the Ghadr Party.
- The first was the discrimination against Indians in Canada and the United States. These emigrants did not find Conditions in the Countries of their migration as attractive in actual practice as they has been led to expect.
- The second was the clash of interest between American and Indian labour.
- The vast majority of the immigrants were Sikhs, who foregathered every Sunday for Congregational prayers. Since the only places where the Indians could meet were the Gurdwaras and as politics began to dominate the scene in both the countries, the Silk temples became storm centres of political activity.
- Lala Hardayal, Bhai Parmanand, Baba Sohan Singh Bhaka, Bhai Kesar Singh and Pandit Kanshi Ram played an important role in organising and uniting the Indians living in America.
- It was decided that the objects of the association would be to end British rule in India through armed revolution, establish and maintain a system of self-government in India based on the principals of liberty, equality and fraternity, and to work for a social order securing the greatest good of the greatest number.
- The headquarters of the party Yugantar Ashram, were to be located at San Francisco and it was to have its own Press and a weekly paper, the Ghadr, which was to be published in Urdu, Punjabi, Hindi and other Indian languages.
- The party established its branches in Hong Kong, Manila, Bangkok, Shanghai and Panama. It designed a tricolour national flag which was unfurled 1914, at Stockton (California) on 15 February 1914, when the Ghadrites pledged themselves to fight and die in the revolution under the National Standard.
- Pledged to freedom of the Country, the Ghadrites appealed to all patriotic Indians to take full advantage of British preoccupations in World War I to rise against them and literally throw them out.
- They were promised support in money and arms through Indian revolutionaries in Germany who had organised an Indian Berlin Committee.
- The Ghadr Party was determined to wage war against the British in India and with that object in view decided to send arms and men to India to start a revolt with the help of soldiers and local revolutionaries.
- Rash Behari Bose, Sachindra Sanyal, Ganesh Pingale and Kartar Singh Srabha prepared a master plan for that purpose.
- Some revolutionaries were killed, and several others were arrested.
- The all-India revolt failed because on Kirpal Singh passed on all the secret plans to the Government.
- The Ghadrites were tried in a batches in the Lahore Conspiracy Case and the supplementary cases.
Quit India Movement
- In 1939, with the outbreak of war between Germany and Britain, India was announced to be a party to the war for being a constituent component of the British Empire.
- Following this declaration, the Congress Working Committee at its meeting held on 10 October 1939, passed a resolution condemning the aggressive activities of the Germans.
- At the same time the resolution also stated that India could not associate herself with war unless it was consulted first.
- Congress ministers from eight provinces resigned following the instructions.
- In the meanwhile, crucial political events took place in England.
- Chamberlain was succeeded by Churchill as the Prime Minister and the Conservatives, who assumed power in England, did not have a sympathetic stance towards the claims made by the Congress.
- In order to pacify the Indians in the circumstance of worsening war situation, the Conservatives were forced to concede some of the demands made by the Indians.
- On 8 August, the Viceroy issued a statement that has come to be referred as the “August Offer”.
- However, the Congress rejected the offer followed by the Muslim League.
- In the context of widespread dissatisfaction that prevailed over the rejection of the demands made by the Congress, Gandhi at the meeting of the Congress Working Committee in Wardha revealed his plan to launch Individual Civil Disobedience.
- Vinoba Bhave, a follower of Gandhi, was selected by him to initiate the movement.
- The Cripps’ Mission and its failure also played an important role in Gandhi’s call for The Quit India Movement.
- The Quit India Movement (August Kranti), August 1942, launched in response to Mahatma Gandhi’s national call for satyagraha.
- The All-India Congress Committee proclaimed a mass protest demanding what Gandhiji called “an orderly British withdrawal” from India.
- It was for the determined, which appears in his call to “Do or Die”, issued on 8 August at the Gwalior Tank Maidan in Mumbai in 1942.
- Sardar Vallabhbhai Patel, Dr. Rajendra Prasad, Aruna Asaf Ali, Achyut Patwardhan and Dr. Anugrah Narayan Sinha openly and enthusiastically supported such a disobedience movement, as did many veteran Gandhians and socialists like Asoka Mehta and Jayaprakash Narayan.
- Although at the national level the ability to galvanize rebellion was limited, the movement is notable for regional success especially at Satara in Maharashtra, Talcher in Orissa, and Midnapore.
- In Tamluk and Contai subdivisions of Midnapore, the local populace were successful in establishing parallel governments, which continued to function, until Gandhi personally requested the leaders to disband in 1944.
Bhikaiji Cama (Maharashtra)
- Born to an extremely wealthy Parsi business family, Bhikaiji Cama (née Patel) received her early education in Bombay (now Mumbai).
- It was in London that Bhikaji Cama met Dadabhai Naoroji and inspired by his ideals plunged into the freedom movement.
- She also began to meet with other Indian nationalists like Shyamji Varma, Lala Hardayal, and soon became one of the active members of the movement.
- She began to publish booklets for the Indian community in England, propagating the cause of Swaraj. “March forward! We are for India. India is for Indians!” she defiantly declared.
- Madam Bhikaiji Cama became the first person to hoist the Indian flag in foreign land on 22 August 1907.
- While unfurling the flag at the International Socialist Conference in Stuttgart, Germany, she appealed for equality and autonomy from the British which had taken over the Indian sub-continent.
Vasudeo Balvant (Maharashtra)
- Modern India’s first revolutionary, Phadke, is regarded as the ‘Father of the Armed Struggle for India’s Freedom’.
- Young Phadke, who considered Shivaji as his role model, is said to have been the inspiration for Bankimchandra’s Anandamath.
- Phadke took a vow to use Khadi and Swadeshi.
- He founded the Aikyavardhini Sabha in order to ventilate popular grievances.
- In 1874, he also established the first school of national education in Pune.
Kittur Rani Chennamma (Karnataka)
- Kittur Rani Chennamma was Queen of Kittur, Princely State in Karnataka.
- She led an armed rebellion against the British policy of ‘Doctrine of Lapse’, i.e. annexation on the lapse of direct heirs leading to the confiscation of Princely property.
Saifuddin Kitchlew (Jammu and Kashmir)
- A member of Indian National Congress, he first became Punjab Provincial Congress Committee (Punjab PCC) head and later the General Secretary of the AICC in 1924.
- Kitchlew was first exposed to Indian nationalism after public outcry over the Rowlatt Acts. Kitchlew was arrested with Gandhi and Dr. Satyapal for leading protests in Punjab against the legislation.
- To protest the arrest of the trio, a public meeting had gathered at the Jallianwala Bagh, when General Reginald Dyer and his troops fired upon the unarmed, civilian crowd.
- Hundreds were killed, and hundreds more injured.
- This act was the worst case of civilian massacre since the Indian Rebellion of 1857 and riots broke out throughout the Punjab.
Chapekar Brothers (Maharashtra)
- Freedom fighters Damodar Hari Chapekar and his brothers Balkrishna and Vasudev Hari Chapekar were born in Chinehawad, district Pune, Maharashtra.
- On 22 June, 1897, the three brothers set out to kill British officer Walter Charles Rand who had handled the plague in Pune in a high-handed manner.
- Eventually, Damodar, his brothers and their friend Mahadev Ranade were caught and hanged.
Subject – Economy
Context – Spike in Baltic Exchange’s capsize index signals costlier coal shipments
- Coal-starved power stations received another shock as the capesize index, the main dry bulk sea freight index of The Baltic Exchange sailed past the 10,000 points mark, a first in more than 13 years, making the rates for shipping dry bulk commodities such as coal costlier.
- The overall index rose 4.4 per cent to 5,647 points, the highest since September 2008 when the Lehman Brothers collapse triggered a global crisis.
About Baltic Exchange –
- The Baltic Exchange (incorporated as The Baltic Exchange Limited) is a membership organisation for the maritime industry, and freight market information provider for the trading and settlement of physical and derivative contracts.
- It was located at 24–28 St Mary Axe, London, until the building was destroyed by a bomb in 1992, and is now located at 38 St Mary Axe.
- It has further offices in Europe, across Asia, and in the United States.
- BIFFEX, the Baltic International Freight Futures Exchange, was a London-based exchange for trading ocean freight futures contracts with settlement based on the Baltic Freight Index.
Baltic Freight Index
- Baltic Freight Index stands for shipping and trade index which has been created by the Baltic Exchange based in London.
- It is a measure of the cost of transporting various raw materials.
- The Baltic Exchange contacts the shipping brokers directly for assessing price levels for a specific route, product, time and speed.
Subject – Economy
Context – Srei firms found ever-greening NPAs, in payment default
To know about CRAR, please click here.
To know about ‘RBI supersedes boards of two debt-laden Srei companies’, please click here.
To know about NPA and its classification, please click here.
Ever-greening of NPAs
- The evergreening of loans is a well-known exercise, in which banks revive a loan on the verge of default by granting further loans to the same firm.
- Evergreening is a ploy to mask loan default by giving new loans to help delinquent borrowers repay or pay interest on old loans.
- For years, it was central to functioning of IL&FS.
- The consequences of evergreening are well known: a reduction in reported defaults in the short run, followed by an eventual explosion in default rates.
- The pattern has manifested in all major economies, including the US, the European Union, Japan and India.
Subject – Environment
Context – Globally, India recorded the highest loss in terrestrial water storage
- Terrestrial water storage (TWS) dropped at a rate of 1 cm per year in 20 years (2002-2021), according to a new report 2021 State of Climate Services released by the World Meteorological Organization (WMO).
- The biggest losses have occurred in Antarctica and Greenland. But many highly populated, lower latitude locations have also experienced TWS losses, according to the report.
- This includes India, where the TWS has been lost at a rate of at least 3 cm per year. In some regions, the loss has been over 4 cm per year too. India has recorded the highest loss in terrestrial water storage if the loss of water storage in Antarctica and Greenland is excluded.
- India is, therefore, the ‘topmost hotspot of TWS loss’, according to the WMO analysis. The northern part of India has experienced the maximum loss within the country.
What is Terrestrial water storage (TWS)?
- TWS is the sum of all water on the land surface and in the subsurface, ie surface water, soil moisture, snow and ice and ground water.
- Water is a key prerequisite for human development. But only 0.5 per cent of water on Earth is usable and available as freshwater.
Indian Scenario –
- In India, per capita water availability is reducing due to an increase in population. The average annual per capita water availability has been consistently decreasing. It reduced to 1,545 cubic metres in 2011, from 1,816 cubic metres in 2001.
- It is projected to further decrease to 1,367 cubic metres in 2031, according to the Union Ministry of Housing and Urban Affairs.
- Five of the 21 river basins in India are ‘absolute water scarce’ (per capita water availability below 500 cubic metres) according to the Falkenmark Water Stress Indicator.
- Five are ‘water scarce’ (per capita water availability below 1,000 cubic metres) and three are ‘water stressed’ (per capita water availability below 1,700 cubic metres).
- By 2050, six will become absolute water scarce, six will become water scarce and four will become water stressed, according to the State of India’s Environment in figures, 2020.
Subject – Environment
Context – India’s ambitious ethanol plan fuels food security concerns
- India’s ambitious plan to cut the use of fossil fuels by promoting ethanol derived from rice, corn and sugar is drawing criticism from some experts who warn the move could undermine food security in the world’s second-most populous country.
- In June, Prime Minister Narendra Modi’s administration accelerated the nation’s ethanol goal by five years, seeking to double production and to have gasoline 20 per cent blended with the spirit by 2025.
- To help meet the target, the government is offering financial assistance to biofuel producers and faster environmental clearances. The plan is also resulting in the diversion of food grains meant for the poor to companies at subsidised rates.
- The government argues that the new target will help the world’s third-largest oil consumer save ₹300 billion ($4 billion) annually by cutting crude imports, reduce carbon emissions and boost farmers’ incomes.
To know more about Ethanol and Ethanol blending programme in India, please click here.
To know about National Policy on Biofuels, please click here.
Subject – Infrastructure
Context – Fifty-one passengers of an overcrowded bus died in an accident on the morning of February 16 when it fell into a canal near Sarda Patan village in Sidhi district, Madhya Pradesh.
- The declaration was signed at the Second Global High-Level conference on Road Safety held in Brazil.
- Through the Brasilia Declaration Countries plan to achieve the Sustainable Development Goal 3.6: By 2020, halve the number of global deaths and injuries from road traffic accidents.
- United Nations has also declared 2010-2020 as the decade of action for Road Safety.
- The main points of the Brasilia Declaration are:
- Countries should form transport policies in order to favor more sustainable modes of transport such as walking, cycling and using public transport.
- It highlights strategies to ensure the safety of all road users,
- by improving laws and enforcement;
- making roads safer through infrastructural modifications;
- ensuring that vehicles are equipped with life-saving technologies;
- and enhancing emergency trauma care systems.
Subject – Economy
Context – The recent spike in global crude oil prices above the $80-per-barrel mark led to a dip in key indices in the stock market as concerns rose over the impact on inflation, currency and input cost for companies across sectors.
Reasons for rise in oil prices –
- Crude prices have risen sharply in 2021 on the back of a recovery in global demand as the world economy recovers from the pandemic.
- Supply restrictions maintained by the OPEC+ grouping , too, have kept international oil prices high. So far, these oil-producing economies have signalled only slow production increases, which is leading to a rise in gas prices as well.
- A shortage of gas in Europe and Asia has boosted demand for oil for power generation.
- The rise in crude prices has contributed to petrol and diesel prices hitting all-time highs in India.
- Prices of petrol and diesel in India are pegged to a 15-day rolling average of the international prices of these fuels.
- High taxes by the central and state governments too have contributed to retail prices being far higher.
How will this impact stocks and bonds?
- While a sharp surge in oil prices can create short-term panic in the equity markets, historical precedents show that equity markets often bottom out alongside a bottoming out of oil prices.
- Analysts point out that increasing oil prices reflect growing demand in the economy, and equities often deliver more than the expected inflation that the oil surge may lead to.
- In line with oil, prices of other commodities including coal has been rising sharply.
- Any hint of sustained high inflation can result in rising yields and falling bond prices.
- For bonds, central bank policies will play a far greater role than the direct impact of rising oil prices.
How does it impact currency and the economy?
- Rising crude prices tend to depress the rupee, as India being a major importer of oil needs more dollars to buy the same amount of crude.
How can it hurt inflation, government finances, and the markets?
- Crude import accounts for nearly 20% of India’s import bill.
- A rise in prices could lead to a surge in inflation, forcing the RBI to go for liquidity tightening measures followed by rate hikes.
- An increase in crude prices means an increase in the cost of producing and transporting goods. It thus adds to inflation;
- A surge in crude prices tends to increase India’s expenditure and adversely affects the fiscal deficit.
Subject – Environment
Context – A new study has found that the waters of the Cauvery river in south India are polluted by a range of emerging contaminants.
- A new study has found that the waters of the Cauvery river in south India are polluted by a range of emerging contaminants that include pharmaceutically active compounds, personal care products, plastics, flame retardants, heavy metals and pesticides, among many others.
- Of these, pharmaceutical contamination was found to be particularly serious as their presence in water bodies even in minuscule amounts can harm human beings and the ecosystem in the long run.
- This study has been carried out with joint funding from Water Technology Initiatives of the Department of Science and Technology, Government of India and the UK Natural Environment Research Council
- The researchers found that water quality and levels of pharmaceutical contaminants in the Cauvery were influenced by the monsoon season.
- The post-monsoon period showed an increased level of various types of contaminants including pharmaceuticals due to reduced riverine flow and continuous waste discharge from multiple sources.
- Among other things, freshwater intake points were found to be loaded with extraordinarily high concentrations of pharmaceutical contaminants.
- The contaminants included anti-inflammatories like ibuprofen and diclofenac, anti-hypertensives such as atenolol and isoprenaline, enzyme inhibitors like perindopril, stimulants like caffeine, antidepressants such as carbamazepine and antibiotics such as ciprofloxacin.
- River networks contribute to 0.006 per cent of global freshwater and often serve as a lifeline for various domestic and industrial activities. Worldwide, the water quality of the river systems has been deteriorating due to various anthropogenic activities.
To know about the Cauvery River, please click here.
Subject – Science and Tech
Context – PM to participate in launch of Indian Space Association
- It is a premier industry association of space and satellite companies.
- ISpA is represented by leading home grown and global corporations with advanced capabilities in the space and satellite technologies.
- Its founding members include Bharti Airtel, Larsen & Toubro, Nelco (Tata Group), OneWeb, Mapmyindia, Walchandnagar Industries and Ananth Technology Ltd.
- Other core members include Godrej, Hughes India, Azista-BST Aerospace Private Ltd, BEL, Centum Electronics, Maxar India.
- ISpA will undertake policy advocacy and engage with all stakeholders in the Indian space domain, including the government and its agencies, to make India self-reliant, technologically advanced and a leading player in the space arena.
Subject – Governance
Context – Modi dedicates 35 oxygen plants set up under PM CARES to nation
- Prime Minister Narendra Modi on Thursday dedicated 35 oxygen plants set up under PM CARES across 35 States and Union Territories at an event held at All India Institute of Medical Science (AIIMS) Rishikesh.
- With this, all districts of the country will have commissioned PSA Oxygen Plants.
- Also earlier this month, a total of 845 COVID-19 orphans have so far been identified and approved for receiving benefits under the PM CARES Fund.
To know about PM CARES, please click here.
Subject – Governance
Context – In India, 5 out of 6 multidimensionally poor are from lower tribes or castes: UN report
- Five out of six multidimensionally poor people in India are from lower tribes or castes, according to a new analysis on global multidimensional poverty released by the United Nations.
- The global Multidimensional Poverty Index (MPI) produced by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative said this in its latest report on poverty.
- The Scheduled Tribe group accounts for 9.4 per cent of the population and is the poorest, with 65 million of the 129 million people living in multidimensional poverty.
- They account for about one-sixth of all people living in multidimensional poverty in India.
- Following the Scheduled Tribe group is the Scheduled Caste group with 33.3 per cent — 94 million of 283 million people — living in multidimensional poverty.
- 2 per cent of the Other Backward Class group- 160 million of 588 million people — live in multidimensional poverty.
- Among the 1.3 billion multidimensionally poor people studied globally, almost two-thirds- 836 million- live in households in which no female member has completed at least six years of schooling.
- This exclusion of women from education has far-reaching impacts on societies around the world.
- According to the report, the top five countries with the largest number of people living in multidimensional poverty are in India (2015/16) at 381 millions, Nigeria (2018): 93 million, Pakistan (2017/18): 83 million, Ethiopia (2019): 77 million, Democratic Republic of the Congo (2017/18): 56 million.
Multidimensional Poverty Index
To know more about the index, please click here.
Subject – Science and Tech
Context – Abdulrazak Gurnah, 72, who was born in Zanzibar and now lives in the UK, became the fifth African writer to win the Nobel Prize for Literature.
- Abdulrazak Gurnah, 72, who was born in Zanzibar and now lives in the UK, became the fifth African writer to win the Nobel Prize for Literature.
- In its citation, the Nobel committee lauded Gurnah’s “uncompromising and compassionate penetration of the effects of colonialism and the fate of the refugee in the gulf between cultures and continents.”
- The author of 10 novels and several short stories and essays, including Memory of Departure (1987), Pilgrims Way (1988), Paradise (1994), By the Sea (2001), Desertion (2005), Gravel Heart (2017) and, most recently, Afterlives (2020), Gurnah’s writing explores the immigrant experience and how exile and loss shape identities and cultures.
Subject – History
Context – Study finds evidence that Indian subcontinent was one of domestication centres of Sheep.
- Researchers at the Central University of Kerala (CUK) have found that domestication of sheep had taken place in the Indian subcontinent, especially in Indus Valley civilisation regions in the 6th or 7th millennium BC.
- The study found genetic evidence that sheep had been domesticated in the region in contrast to the general belief that they were domesticated then in West Asia alone, and that they had arrived in the Indian subcontinent through migration.
- Even though India ranks second in terms of sheep population, represented by as many as 44 well-described breeds, genetic diversity and phylogeography of Indian sheep breeds remained poorly understood, particularly the south Indian breed.
- However, the study provided strong genetic evidence that the Indian subcontinent was one of the domestication centres of the lineage A sheep.
- When DNA sequences were compared with other breeds across the world, it was found that the Indian sheep haplotypes were unique and highly diverse.
- The study also found that the introduction of sheep ‘lineage B’ into the Indian subcontinent had been through sea route, and not from the Mongolian plateau, as proposed by researchers in China.
Subject – Defence and Security
Context – HAL delivers heaviest propellent tank to ISRO
- The heaviest semi-cryogenic propellant tank (SC120¬ LOX) ever fabricated by Hindustan Aeronautics Limited (HAL) has been delivered to the Indian Space Research Organisation (ISRO).
- The semi cryo-liquid oxygen (LOX) tank — the first developmental welded hardware — is a part of the SC120 stage intended for payload enhancement by replacing the L110 stage in existing Mk-III launch vehicle, said a release from HAL.
- Last year, HAL had delivered the biggest ever cryogenic liquid hydrogen tank (C32-LH2), four meters in diameter and eight meters in length.
- HAL has delivered critical structures, tankages, satellite structures for the PSLV, GSLV-Mk II and GSLV-Mk III launch vehicles.
Subject – Polity
Context – The Panchayati Raj, first adopted by Nagaur in Rajasthan on October 2, 1959, has expanded vastly. There are now 2,60,512 Panchayati Raj Institutions (PRIs) represented by about 31 lakh elected members across India.
- It is also known as “Sabki Yojana Sabka Vikas”.
- It aims to draw up Gram Panchayat Development Plans (GPDPs) in the country and place them on a website where anyone can see the status of the various government’s flagship schemes.
- People’s Plan Campaign 2021 will be conducted with better people’s participation.
- Under the campaign, each activity will promote a sense of camaraderie and commitment in the citizens towards a common goal of overall development of villages.
- The People’s Plan Campaign will be rolled out in all the States from October 2, 2021.
- During the campaign, structured Gram Sabha meetings will be held for preparing Panchayat Development Plans for the next financial year 2022–2023.
Vibrant Gram Sabha Dashboard
- Vibrant Gram Sabha Dashboard was launched in order to help in increasing maximum participation by means of meeting of Gram Sabha, meeting of elected Panchayat Public Representatives and Standing Committee meeting of Gram Panchayat.
Subject – Defence and Security
Context – Indian forces to carry out exercise with U.K.
- It is a India-UK joint military exercise.
- The exercise is conducted alternatively in the United Kingdom and India.
- Other joint exercises between India and UK:
- Navy: Konkan
- Air Force: Indradhanush.
Subject – Governance
Context – Girls can take RIMC test in Dec.
- The Rashtriya Indian Military College (RIMC) is a military school situated in Doon Valley, Dehradun in India.
- The RIMC is a feeder institution for the National Defence Academy, Indian Naval Academy and subsequently the Indian Armed Forces.
- Rimcollians, the name by which alumni of the RIMC are usually denoted, have gone on to hold the highest ranks in the Army, Navy and the Air Force of India, Pakistan and Bangladesh.
- Rashtriya Indian Military College conducts an admission process in Class VIII.
- Candidates are then shortlisted through the written test and called for Viva-Voce which is of 50 marks, and have to pass a medical test.