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Important topics and their relevance in UPSC CSE exam for February 1, 2023. If you missed the January 31, 2023 UPSC key from the Indian Express, read it here
Front Page
Survey banks on fiscal discipline and higher capex to drive growth
Syllabus:
Preliminary Examination: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.
Main Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
Key Points to Ponder:
• What’s the ongoing story- The Economy will likely grow 6.0-6.8 per cent in 2023-24 with a baseline real GDP growth rate of 6.5 per cent on the back of a rebound in private consumption, higher capital expenditure, strengthening of corporate balance sheets and near-universal vaccination coverage enabling spending on contact-based services, the Economic Survey for 2022-23 tabled in Parliament on Tuesday said.
• Know the Key terms– real GDP, nominal GDP, fiscal deficit, Capex, fiscal consolidation, asset monetisation revenue, fiscal slippage
• What is the Economic Survey?
• Who prepares the Economic Survey?
• The comments or policy solutions contained in the Economic Survey are binding on the government-True or False?
• What are the Key Points of the Economic Survey 2022-23?
• What are the main takeaways of the Economic Survey in the areas of GDP growth, Inflation and Unemployment?
• How economic survey is different from Union Budget?
• Do You Know-The Survey provides a detailed report of the national economy for the year along with forecasts. It touches upon everything from agriculture to unemployment to infrastructure. It is prepared by the Economic Division of the Department of Economic Affairs (DEA).
• What is the central theme of this year’s Economic Survey?
• What Economic survey says on the State of the Economy 2022-23?
• ‘The fundamentals of the Indian economy are sound as it enters its Amrit Kaal’-What is Amrit Kaal as per the Survey?
• According to Survey, ‘Global slowdown had a couple of “silver linings” for India’-how?
• The Survey has called for “entirely” dismantling the LIC (licensing, inspection and compliance) regime-Why?
• For Your Information-The Survey said the upside to India’s growth outlook comes from (i) limited health and economic fallout for the rest of the world from the current surge in Covid-19 infections in China and, therefore, continued normalisation of supply chains; (ii) inflationary impulses from the reopening of China’s economy turning out to be neither significant nor persistent; (iii) recessionary tendencies in major advanced economies triggering a cessation of monetary tightening and a return of capital flows to India amidst a stable domestic inflation rate below 6 per cent; and (iv) this leading to an improvement in animal spirits and providing further impetus to private sector investment.
• How did the evolution of the Goods and Services Tax become a source of durable and dependable revenue for states and the centre?
• Experts have warned that the “optimistic growth outlook contains seed for fiscal slippage.” What type of fiscal slippage is this, and why is it so?
• What does it mean for India’s economy?
• The Survey argued that the situation in 2023 is similar to how the economy was poised in 2003- What is the reference to 2003?
Other Important Articles Covering the same topic:
📍Chidambaram: Survey seems to be looking through rear view mirror, not windshield
Previous year Prelims Question Based on similar theme:
📍Which among the following steps is most likely to be taken at the time of an economic recession? (UPSC Prelims GS-1, 2021)
a) Cut in tax rates accompanied by increase in interest rate
b) Increase in expenditure on public projects
c) Increase in tax rates accompanied by reduction of interest rate
d) Reduction of expenditure on public projects
📍In India, deficit financing is used for raising resources for (UPSC Prelims GS-1, 2013)
(a) economic development
(b) redemption of public debt
(c) adjusting the balance of payments
(d) reducing the foreign debt
📍Economic growth in country X will necessarily have to occur if (UPSC Prelims GS-1, 2013)
(a) there is technical progress in the world economy
(b) there is population growth in X
(c) there is capital formation in X
(d) the volume of trade grows in the world economy
Risks to growth: Entrenched inflation and depreciating rupee
Syllabus:
Preliminary Examination: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.
Main Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
Key Points to Ponder:
• What’s the ongoing story- THE ECONOMIC Survey may have presented an optimistic growth outlook for the next year, but it did highlight the risks of an “entrenched inflation” and hence “higher and longer” interest rates, and a “depreciating rupee” leading to higher current account deficit, both on account of global headwinds.
• What exactly did the Economic Survey say about entrenched inflation?
• Why was inflation referred to in the survey as “entrenched inflation”?
• How long has the Indian economy been suffering from recent inflation?
• Do You Know-India’s current account balance recorded a deficit of $36.4 billion, or 4.4 per cent of the GDP, in July-September, against a deficit of $ 9.7 billion, or 1.3 per cent of the GDP, in the year-ago period.
• What is leading to higher current account deficit?
• For Your Information-At the same time, the Survey expressed the likelihood of plateauing export growth due to “slackening” global demand amid recessionary concerns in various advanced economies and shrinking of international trade. If the CAD — the difference between the value of goods and services imported into India and the value of those exported out of India — indeed widens further, it could put further pressure on the rupee against the US dollar, it said.
• What is considered a soft landing in an economy?
• ‘Oil-related geopolitics could also add to India’s imported inflation going forward’-Elaborate
Other Important Articles Covering the same topic:
PM CARES Fund not of Govt, RTI doesn’t apply: Centre to HC
Syllabus:
Preliminary Examination: Indian Polity and Governance
Mains Examination: General Studies II: Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
Key Points to Ponder:
• What’s the ongoing story- The Centre has informed the Delhi High Court that PM CARES Fund is set up as a public charitable trust and is not created under the Constitution or any law made by the Parliament or the state, in a plea seeking to declare the fund a ‘state’ under Article 12 of the Constitution to ensure transparency in its functioning.
• What is Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)?
• What is the apprehension with the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)?
• Who are the Trustees of the PM CARES Fund?
• What are the Objectives of the PM CARES Fund Trust?
• What is the legal framework of PM CARES Fund?
• Public Charitable Trust and Article 12 of the Indian Constitution-Connect the dots
• What type of domestic donations are accepted in PM CARES Fund?
• Are contributions towards the PM CARES Fund exempted from Income Tax?
• Who audits the PM CARES Fund?
• Contribution to PM – CARES Fund will Qualify as CSR Expenditure?
• Whether Foreign Donation is accepted in PM CARES Fund?
• PM CARES Fund-Controversy, Issues and Challenges
• Prime Minister’s National Relief Fund (PMNRF) and Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES)-Compare and Contrast
Other Important Articles Covering the same topic:
📍PM-CARES Fund not a fund of Government of India, Delhi HC told
EXPRESS NETWORK
‘Coast Guard is ready to tackle any situation on seafront’
Syllabus:
Preliminary Examination: Current events of national and international importance.
Mains Examination: General Studies III: Various Security forces and agencies and their mandate
Key Points to Ponder:
• What’s the ongoing story-The Indian Coast Guard’s (ICG) is always prepared to tackle any situation and eventualities on the seafront, said Inspector General Iqbal Singh Chauhan, TM Commander Coast Guard Region (North East). Asked about the terror threat scenario and growing instances of smuggling of goods and drugs through sea route, Chauhan said, “Threats will always be there, but we are there to tackle these.” He was addressing the media on board ICG ship ‘Vijaya’ at Khidirpur Dock of Syama Prasad Mookerjee Port on the eve of the 47th Raising Day of the Indian Coast Guard.
• The Indian Coast Guard (ICG)-Know the background
• Indian Coast Guard-About, Motto, Missions and Role
• What are the primary responsibilities of the Coast Guard?
• Commands of Indian Coast Guard-Know in detail
• What is the difference between Indian Coast Guard and Indian Navy?
• What are the Point of Contention between Indian Coast Guard and Indian Navy?
Other Important Articles Covering the same topic:
📍Peace in Indian Ocean Region key to global prosperity: Rajnath
GOVT & POLITICS
Electoral bonds: Apex court trifurcates pleas, to hear issues separately
Syllabus:
Preliminary Examination: Indian Polity and Governance
Main Examination: General Studies II: Important aspects of governance, transparency and accountability
Key Points to Ponder:
• What’s the ongoing story-The Supreme Court Tuesday posted petitions challenging the Electoral Bonds Scheme, 2018, for hearing in the third week of March. A bench presided by Chief Justice of India D Y Chandrachud noted that the batch of petitions raised three separate issues—a challenge to electoral bonds, whether political parties should be brought under the ambit of the RTI Act, and amendments made to the Foreign Contribution (Regulation) Act (FCRA).
• What are Electoral Bonds?
• When were electoral bonds introduced and why?
• Electoral Bonds-Key Features
• Which Bank is the only bank authorised to sell Electoral Bonds?
• Electoral Bonds and associated issues
• When are the bonds available for purchase?
• Are electoral bonds taxable?
• Why were electoral bonds introduced in India?
• Why are electoral bonds being so vehemently opposed by transparency activists?
• The Centre government had termed the electoral bond scheme “a big step towards electoral reform”-How far you agree with the same?
• How popular are electoral bonds as a route of donation?
• What does the Supreme Court have to say on electoral bonds?
• What is the Election Commission’s stand on electoral bonds?
• Reserve Bank of India on electoral bonds scheme?
Other Important Articles Covering the same topic:
📍Explained: How electoral bonds work, and why they face criticism
📍Explained: Why the electoral bonds scheme has been challenged in Supreme Court
‘Jai Jai Maharashtra Maza’ state anthem from Feb 19
Syllabus:
Preliminary Examination: Indian Polity and Governance-Constitution, Political System, Panchayati Raj, Public Policy, Rights Issues, etc.
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:
• What’s the ongoing story-THE MAHARASHTRA Cabinet on Tuesday cleared the decision to designate Jai Jai Maharashtra Maza as the state song, which will now be played along with the National Anthem at all government events from February 19, the birth anniversary of Chhatrapati Shivaji Maharaj. It is for the first time since the establishment of Maharashtra as a state in 1960 that the government has declared an official state song.
• What is a state song?
• National Song and State Song-Compare and Contrast
• India’s National Song and National Anthem-Know in detail
• Should States have their own Songs and flags?
• What does the Indian Constitution have to say about state songs and flags?
Other Important Articles Covering the same topic:
Sonam Wangchuk: We were better off with Jammu & Kashmir
Syllabus:
Preliminary Examination: Current events of national and international importance.
Main Examination: General Studies III: Conservation, environmental pollution and degradation, environmental impact assessment.
Key Points to Ponder:
• What’s the ongoing story– On January 27, the third day of his five-day fast over regional demands for greater autonomy, Ladakhi engineer and educator Sonam Wangchuck claimed he is under house arrest. In a YouTube video, he accused the Union Territory’s Lieutenant Governor of “sowing the seeds of militancy in peaceful Ladakh”, and that he thought they were “better-off with Jammu and Kashmir than today’s UT.”
• Who is Sonam Wangchuk?
• Why there is the longstanding demand for including the Ladakh and Himalayan region under Schedule 6 of the Indian Constitution to safeguard the environment of the region, and the rights of indigenous people?
• First of all, what is Schedule 6 of the Indian Constitution?
• Map Work-Ladakh
• Why is Sonam Wangchuck protesting?
• What are his claims on being under house arrest?
Other Important Articles Covering the same topic:
THE IDEAS PAGE
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
Key Points to Ponder:
• What’s the ongoing story-C. Raja Mohan Writes: China can ramp up, at will, the military pressure on the disputed border with India; Delhi depends on Russian military supplies to cope with the PLA challenge; and Moscow is now a junior partner to Beijing. It is not a nice place for Delhi to be in
• “The triangular dynamic between the US, Russia and China has long been the principal factor shaping independent India’s geopolitics”-How?
• Russia and China and India-Know the bilateral relations and present scenario
• Where does the Sino-Russian alliance are heading towards and what are its implications for India?
• “The Sino-Russian alliance puts India in a terrible predicament”-Elaborate
• But this change in geopolitics dynamic also brings challenges as well as opportunities for India-What are the challenges and opportunities for India?
• What are the global ramifications of the Sino-Russian alliance?
Other Important Articles Covering the same topic:
📍India needs a new, integrated approach to Eurasia
EXPLAINED
Assessing the case for amending India-Pak Indus Waters Treaty
Syllabus:
Preliminary Examination: Current events of national and international importance
Mains Examination: General Studies II: India and its neighbourhood- relations.
Key Points to Ponder:
• What’s the ongoing story-There are two ways to look at India’s recent notice to Pakistan on the Indus Waters Treaty, which governs the sharing of six rivers flowing through the two countries. It can be viewed as India’s counter measure to Pakistan’s repeated objections to every irrigation or power project on the Indian side of the Indus basin. This would imply that if Pakistan drops its obstructionist approach, India might not insist on amending the Treaty.
• Quick Recall-In a recent notice to Islamabad via the Indus Commissioners, New Delhi claimed that the “intransigence” of Pakistan had made the communication channels over shared waters defunct. New Delhi has asserted that in light of this “material breach” of the agreement, it would like to “update the Treaty to incorporate the lessons learnt over the last 62 years”. It has given a 90-day notice to Islamabad — this has opened space, both legally and politically, for discussing, debating, interpreting and possibly also analysing the fault lines of water diplomacy of both countries.
• Why Indus Water Treaty (IWT) is in news?
• What is the Indus Waters Treaty?
• Indus Waters Treaty-Know the key Provisions
• Map Work-Mark Indus River, Jhelum, Chenab, Ravi, Beas and Sutlej
• What are the issues and Challenges with Indus Water Treaty (IWT)?
• Indus Water Treaty and Geopolitical Conflict between India and Pakistan in present context-Know in Detail
• ‘Experts on both sides agree that there have been significant changes since the Treaty came into being in 1960, and it needs to be updated’-Why?
• Why climate change concerns bother Pakistan more?
• “The Indus Waters Treaty is very prescriptive in what can or cannot be done on the rivers by India, the upper riparian state”-Analyse Indus water Treaty
Other Important Articles Covering the same topic:
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