Important topics and their relevance in UPSC CSE exam for March 4, 2022. If you missed the March 3, 2022 UPSC CSE exam key from the Indian Express, read it here Front Page Risk of RBI falling behind curve on inflation: member of monetary pane Syllabus: Preliminary Examination: Economic and Social Development Mains Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Key Points to Ponder: • Inflation and Various Types of Inflation • War and Inflation • Long term, Medium Term and Short-term impact of Inflation • How Inflation is Measured in India? • What do you understand by Wholesale Price Index (WPI) and Consumer Price Index? • What is CPI-based Inflation or Retail Inflation • New Standard for Measuring Inflation in India and Old Standard for Measuring Inflation-Key Differences • Impact of Money Supply on an Economy-Inflation or Deflation? • What Is Monetary Policy Committee (MPC)? • Monetary Policy Committee MPC-Importance • Know about these terms-Bank Rate, Repo Rate, Reverse Repo Rate, Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), Cash Reserve Ratio (CRR) • Steps or Measures Taken by GOI to Control Inflation • National Statistical Office (NSO)-About, Vision, Mandate and Role Other Important Articles Covering the same topic: 📍 Explain Speaking: Why (gentle) policymakers prefer retail (over wholesale) inflation 📍 What is Consumer Price Index (CPI) Inflation? India cancelled orders of Russian jets, weapons: US official at Senate hearing Syllabus: Preliminary Examination: Current events of national and international importance. Main Examination: General Studies II: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s Interest Key Points to Ponder: • USA’s sanctions on Russia-What are they? • What sanctions have been placed on Russia, and their effectiveness? • Sanctions and Sovereign debt and its impact- US, the EU and Japan have taken steps to restrict Russia’s capacity to borrow on international markets. • What other sanctions are to be expected? • How Economic Sanctions Work? • What do you understand by Sanctions and embargoes? • Economic sanctions on Russia-Impact • The S-400 ‘Triumf’ missile systems and Countering America’s Adversaries through Sanctions’ Act (CAATSA) • Reciprocal military logistics support agreement (RELOS) with Russia • Military Logistics Support Agreements with Other Countries like Logistics Exchange Memorandum of Understanding (LEMOA), Implementing Arrangement Concerning Mutual Coordination, Logistics and Services Support etc. Other Important Articles Covering the same topic: 📍 Explained: S-400 purchase & implications 📍 S-400 missile systems: A booster dose with side effects 📍 Can sanctions work? GOVT & POLITICS SC rejects report of Maharashtra backward classes panel Syllabus: Preliminary Examination: Indian Polity and Governance Main Examination: General Studies II: Functions and responsibilities of the Union and the States, issues and challenges pertaining to the federal structure, devolution of powers and finances up to local levels and challenges therein. Key Points to Ponder: • Reservation to Other Backward Classes (OBCs) in local body elections in Maharashtra-why in news? • Supreme Court’s Verdict in Rahul Ramesh Wagh v. State of Maharashtra &Ors • What was the five-judge Constitution Bench decision in K. Krishnamurthy (Dr.) v. Union of India (2010)? • Mandatory triple-test laid down by Supreme Court-Know in detail • Why did SC read down OBC quota in local bodies? Other Important Articles Covering the same topic: 📍 Explained: Why Supreme Court rejected Maharashtra panel report on OBC quota in local body polls THE EDITORIAL PAGE Crude pressures Syllabus: Preliminary Examination: Current events of national and international importance Main Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment Key Points to Ponder: • Economic geography of Russia and Ukraine-Countries dependent on them for Oil, Energy and food • Ukraine Invasion-What’s at Stake for the Global Economy and particularly on Indian Economy? • War and Impact on Indian Economy in the context of crude oil prices, inflation, Import and Exports, Current account deficit, subsidies on LPG and Kerosene • What exactly is crude oil? • Factors That Affect Benchmark Pricing of Crude oil • How World Events Can Affect Crude Oil Prices? Other Important Articles Covering the same topic: 📍 Russia invades Ukraine, rumble shakes the world EXPLAINED War Impact, Beyond Oil Syllabus: Preliminary Examination: Current events of national and international importance. Main Examination: General Studies II: Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora. Key Points to Ponder: • Ukraine-Russia conflict and its overall impact like on food, trade, energy, People, Peace, Geopolitics etc. • Ukraine-Russia conflict-What does that mean for India? • Ukraine-Russia conflict and its impact on the other oil like vegetable oils and oilseeds etc. Other Important Articles Covering the same topic: 📍 War in Ukraine and the IPO market: what investors need to look at The neutrality that Switzerland has abandoned Syllabus: Main Examination: General Studies I: History of the world will include events from 18th century such as industrial revolution, world wars, redrawal of national boundaries, colonization, decolonization, political philosophies like communism, capitalism, socialism etc.— their forms and effect on the society. Key Points to Ponder: • Map Work-Switzerland • Know about Switzerland neutrality policy • Switzerland is not a part of the European Union or NATO-Why? • The World Wars and Switzerland • Switzerland neutrality policy-What changed now? Other Important Articles Covering the same topic: 📍 In move to sanction Russia, Switzerland breaks from long tradition Get an e-paper subscription via our special offer – click here For any queries and feedback, contact priya.shukla@indianexpress.com The UPSC KEY Indian Express is now on Telegram. Click here to join our channel and stay updated with the latest Updates.
