UPSC CSE Key – May 13, 2022: What you need to read today

FRONT PAGE

Retail inflation at 8-year high of 7.79% in April

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:

• The word ‘Inflation’ is now days very often in News. What do you understand by this term?

• Why Inflation holds so much importance for an Economy?

• The term ‘Price’ is almost familiar to all of us. What do you understand by the term ‘price’ and ‘Price Level’?

• How price level is Measured?

• What is Price Index? Which are the two most important Price indices?

• What do you understand by Wholesale Price Index (WPI) and Consumer Price Index? WPI and CPI is published by whom?

• What is CPI-based Inflation or Retail Inflation? Both are same?

• The base year of Wholesale Price Index (WPI)?

• Base Year for Consumer Price Index (CPI)?

• Know the Types of Inflation like Moderate Inflation, Galloping Inflation, Hyper-Inflation, Stagflation, Deflation, Core Inflation etc.

• Know the Causes of Inflation like Demand-Pull or Demand-Side inflation and Cost-Push or Supply-Side Inflation.

• There are two economic groups in every society including India i.e. the fixed income group and the variable income group. How Inflation effects these economic group?

• What is the Long term, Medium Term and Short-term impact of Inflation?

• How Inflation is Measured in India?

• 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:

📍 What is the significance of wholesale and retail inflation rates diverging

📍 Rising inflation: cause, effect

📍 What Is Inflation?

Previous year Prelims Question based on similar theme:

📍 Consider the following statements:

1. The weightage of food in Consumer Price Index (CPI) is higher than that in Wholesale Price Index (WPI).
2. The WPI does not capture changes in the prices of services, which CPI does.
3. The Reserve Bank of India has now adopted WPI as its key measure of inflation and to decide on changing the key policy rates.
Which of the statements given above is/are correct? (Please Refer 2020 Preliminary Question Paper)

Gyanvapi survey: Break locks if need be, submit report by May 17, says court

Syllabus:

Preliminary Examination: Current events of national and international importance and History of India

Mains Examination: General Studies‐I: Indian culture-Salient aspects of Art Forms, literature and Architecture from ancient to modern times

Key Points to Ponder:

• Gyanvapi Mosque Dispute-What is the entire story so far?

• Gyanvapi Mosque-Know the Style and Architecture

• Kashi Vishwanath Temple Architecture-Know in detail

• Ahilyabai Holkar and Kashi Vishwanath Temple-Connect the dots

• Know about Kashi Vishwanath Corridor Project

Other Important Articles Covering the same topic:

📍 Court order on Kashi Vishwanath Temple-Gyanvapi Mosque site in Varanasi: history and context

GOVT & POLITICS

Will extend INSACOG network to neighboring countries: PM

Syllabus:

Preliminary Examination: General Science

Mains Examination: General Studies III: Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology.

Key Points to Ponder:

• The Indian SARS-CoV-2 Genomics Consortium (INSACOG) is jointly initiated by whom?

• What do you understand by the term ‘Genome’?

• How Genome and Gene differ from each other?

• What is Genome sequencing?

• Why Genome Sequencing is important?

Other Important Articles Covering the same topic:

📍 The Indian SARS-CoV-2 Genomics Consortium (INSACOG),

📍 Explained: The complete human genome, and what it tells us

Previous year Prelims Questions based on similar theme

📍 with reference to agriculture in India, how can the technique of ‘genome sequencing’, often seen in the news, be used in the immediate future? (Please Refer 2017 Preliminary Question Paper for complete question)

📍 What is Cas9 protein that is often mentioned in news? (Please Refer 2019 Preliminary Question Paper for complete question)

Rajiv Kumar named new CEC, to assume office on May 15

Syllabus:

Preliminary Examination: Indian Polity and Governance

Mains Examination: General Studies II: Appointment to various Constitutional posts, powers, functions and responsibilities of various Constitutional Bodies and Salient features of the Representation of People’s Act

Key Points to Ponder:

• Personality in News-Rajiv Kumar

• What are Constitutional Bodies?

• Election Commission of India and Article 324 of the Constitution-Know in detail

• The independent and impartial functioning of the Election Commission-How it is ensured?

• Election Commission of India- Powers and Functions

• System of Election- First past the post electoral system.

• How Elections are conducted in India?

• The Constitution of India has prescribed the qualifications (legal, educational, administrative or judicial) of the members of the Election Commission-True or False?

• The Constitution has not specified the term of the members of the Election Commission-True or False?

• Chief Election Commissioner and the two other Election Commissioners have equal powers-True or False?

• In case of difference of opinion amongst the Chief election commissioner and/or two other election commissioners, the matter is decided by the Supreme Court of India-Right or Wrong?

Other Important Articles Covering the same topic:

📍 ECI MAIN WEBSITE

THE EDITORIAL PAGE

Don’t leave it to RBI

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:

• What is REPO rate?

• What is Current Repo Rate?

• What is Cash Reserve Ratio (CRR) Rate?

• What happens when Repo Rate and CRR is increased?

• Why did RBI increase the REPO and CRR recently?

• What is the Monetary Policy Committee?

• What is the Monetary Policy Committee?

• The Monetary Policy Committee (MPC) is a Statutory Body-True or False?

• What is the Primary Objective of monetary policy in India?

• There are several direct and indirect instruments that are used for implementing monetary policy-What are they?

• Inflation and Various Types of Inflation

• Causes of Inflation in recent time?

• Long term, Medium Term and Short-term impact of Inflation

• Impact of increase in the REPO and CRR on Money Supply on an Economy-Inflation or Deflation?

• Know about these terms-Bank Rate, Reverse Repo Rate, Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) etc.

• New Standard for Measuring Inflation in India and Old Standard for Measuring Inflation-Key Differences

• Steps or Measures Taken by GOI to Control Inflation

• National Statistical Office (NSO)-About, Vision, Mandate and Role

• ‘Tapering’- what does it mean?

• US Fed Taper-Meaning

• US Federal Reserve Policies and its Impact on India

Other Important Articles Covering the same topic:

📍 Ahead of Fed hike, the worry: RBI behind curve

📍 How RBI dropped inflation ball

📍 First of many hikes

📍 A Jolt From RBI

📍 Explained: Federal Reserve signals, and Indian markets

THE WORLD

Russia vows response as Finland seeks NATO seat without delay

Syllabus:

Preliminary Examination: Current events of national and international importance.

Mains Examination: General Studies II: Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora.

Key Points to Ponder:

• Know the Story-Finland and Sweden said their country must apply to join the NATO military alliance “without delay”. Now what next?

• Why Finland wants to join NATO?

• Will Finland and Sweden be the next Ukraine?

• Map work-Mark Finland and Sweden (Both Physical and Political Map)

• North Atlantic Treaty Organization (NATO)-Know the historical background and current Status

• NATO: Why Russia has a problem with its eastward expansion

• What is Article 5 of NATO’s founding treaty (Collective Security)?

• What is Article 4 of NATO’s Founding Treaty?

Other Important Articles Covering the same topic:

📍 Collective defence – Article 5

📍 Finland, Sweden are set to apply for Nato membership. What happens next?

Astronomers capture 1st image of Milky Way’s huge black hole

Syllabus:

Preliminary Examination: Current events of national and international importance.

Mains Examination: General Studies III:Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology and issues relating to intellectual property rights.

Key Points to Ponder:

• What is a black hole?

• The concept of Black hole was given by whom?

• The term ‘black hole’ was coined in the 1960s by American physicist. His name was?

• Know the fact-The Milky Way black hole is called Sagittarius A(asterisk), near the border of Sagittarius and Scorpius constellations.

• The world got a look at the first wild but fuzzy image of the supermassive black hole at the centre of our own Milky Way galaxy-why it is a breakthrough in Astronomy?

• How big are black holes-Know about stellar-mass black holes and supermassive black holes

Other Important Articles Covering the same topic:

📍 Sagittarius A*: NASA Telescopes Support Event Horizon Telescope in Studying Milky Way’s Black Hole

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