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Type: Prelims Only

  • Coronavirus – Economic Issues

    What is Helicopter Money?

    Prelims Only | Economics | Mains Paper 3: Indian Economy

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Helicopter Money, Quantative easing

    Mains level: Not Much

    With the coronavirus-hit economy falling deeper and deeper into a chasm with each passing day, Telangana chief minister KC Rao earlier this month has said helicopter money can help states come out of this crisis.

    Various monetary policy tools are being considered to boost consumer demand in the economy which is stricken by the coronavirus pandemic. Helicopter Money is one such tool.

    What is Helicopter Money?

    • This is an unconventional monetary policy tool aimed at bringing a flagging economy back on track.
    • It involves printing large sums of money and distributing it to the public. American economist Milton Friedman coined this term.
    • It basically denotes a helicopter dropping money from the sky.
    • Friedman used the term to signify “unexpectedly dumping money onto a struggling economy with the intention to shock it out of a deep slump.”
    • Under such a policy, a central bank “directly increases the money supply and, via the government, distributes the new cash to the population with the aim of boosting demand and inflation.”

    Is helicopter money the same as quantitative easing (QE)?

    • Quantitative easing involves the use of printed money by central banks to buy government bonds.
    • But not everyone views the money used in QE as helicopter money.
    • It sure means printing money to monetize government deficits, but the govt has to pay back for the assets that the central bank buys.
    • It’s not the same as bond-buying by central banks “in which bank-owned assets are swapped for new central bank reserves.
    • Helicopter money is also different from a central bank directly financing the debt of a government.

    Pros and cons of helicopter money

    Pros

    • Helicopter money does not rely on increased borrowing to fuel the economy, which means that it doesn’t create more debt and interest rates can remain unchanged.
    • Generally, helicopter money boosts spending and economic growth more effectively than quantitative easing because it increases aggregate demand – the demand for goods and services – immediately.
    • While government money drops that come from debt might not boost consumer spending, due to the debt needing to be repaid, it is often thought that ‘money finance’ will stimulate the economy.

    Cons

    • Unlike quantitative easing, using helicopter money as a tactic is not reversible, and many argue that it’s not a feasible solution to revive the economy.
    • A country’s central bank sets its interest rates to reach economic growth targets.
    • However, a helicopter drop means that a central bank cannot use interest rates to recover any costs, because the money is not linked to a borrowed asset (loan).
    • Instead, the money is given directly to the public. This may lead to over-inflation and cause damage to the central bank’s financials.
    • One of the main risks associated with helicopter money is that it could lead to a significant devaluation of the currency on the foreign exchange market.
    • As more money is printed and supply increases, the value of the domestic currency could significantly decrease.
    • It could also discourage speculators from buying the currency as it is less likely to perform well.

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  • Matterhorn Mountain of the Swiss Alps

    Prelims Only | Enviro & Biodiversity | Mains Paper 1: Geographical Features & Their Location

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Mt. Matterhorn and its location

    Mains level: Not Much

    Switzerland has expressed solidarity with India in its fight against the coronavirus pandemic by projecting the tricolour on the famous Matterhorn Mountain in the Swiss Alps.

    It has been long time since a question on global mountains/mountain ranges has not been asked in the prelims. Gear up for the uncertainty. Make a special sheet of geographical locations in news.

    Mt. Matterhorn

    • The Matterhorn is a mountain of the Alps, separating the main watershed and border between Switzerland and Italy.
    • It is a large, near-symmetric pyramidal peak in the extended Monte Rosa area of the Pennine Alps, whose summit is 4,478 metres.
    • It is one of the highest summits in the Alps and Europe (Mont Blanc being highest).
    • The four steep faces, rising above the surrounding glaciers, face the four compass points and are split by the Hörnli, Furggen, Leone/Lion, and Zmutt ridges.

    Its formation

    • The Matterhorn is mainly composed of gneisses originally fragments of the African Plate before the Alpine orogeny.
    • The mountain’s current shape is the result of cirque erosion due to multiple glaciers diverging from the peak, such as the Matterhorn Glacier at the base of the north face.

    Back2Basics: Alps mountain range

    • The Alps are the highest and most extensive mountain range system that lies entirely in Europe.
    • It stretches approximately 1,200 kilometres across eight Alpine countries (from west to east): France, Switzerland, Monaco, Italy, Liechtenstein, Austria, Germany, and Slovenia.
    • The mountains were formed over tens of millions of years as the African and Eurasian tectonic plates collided.
    • Extreme shortening caused by the event resulted in marine sedimentary rocks rising by thrusting and folding into high mountain peaks such as Mont Blanc and the Matterhorn.
    • Mont Blanc spans the French–Italian border, and at 4,809 m (15,778 ft) is the highest mountain in the Alps.

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  • RBI Notifications

    OBICUS Survey by RBI

    Prelims Only | Economics | Mains Paper 3: Indian Economy

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: OBICUS

    Mains level: Not Much

    The Reserve Bank of India has launched the latest round of quarterly order books, inventories and capacity utilization survey (OBICUS) of the manufacturing sector.

    OBICUS is something new than we often get to hear from RBI…. Most recent was Ways and Means Advances. We can expect prelims question like- “Order books, inventories and capacity utilization survey (OBICUS) of the manufacturing sector is held by” – with options like NSSO, Labour Bureau etc.

    OBICUS

    • OBICUS survey on the manufacturing sector is published quarterly by the RBI since March 2008.
    • It provides an insight into the demand conditions faced by the Indian manufacturing sector.
    • It covers over 2500 public and private limited companies in the manufacturing sector.
    • The company-level data collected during the survey are treated as confidential and never disclosed.

    Items included in OBICUS

    • The information collected in the survey includes quantitative data on new orders received during the reference quarter, backlog of orders, pending orders, total inventories with a breakup between work-in-progress (WiP) and finished goods (FG) inventories and item-wise production.

    Significance of OBICUS

    • The survey provides valuable input for monetary policy formulation.
    • It represents the movements in actual data on order books, inventory levels of raw materials and finished goods and capacity utilization.
    • These are considered as important indicators to measure economic activity, inflationary pressures and the overall business cycle.
    • The survey also gives out the ratio of total inventories to sales and ratio of raw material (RM) and finished goods (FG) inventories to sales in percentages.

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  • Innovations in Biotechnology and Medical Sciences

    Anastomosis surgery for re-implantation

    Prelims Only | Science Tech | Mains Paper 3: Awareness in various sc and tech fields

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Anastomosis Surgery

    Mains level: Not Much

    The chopped off-hand of a Punjab Police officer has been successfully re-implanted after hours of surgery.

    Anastomosis is a general term in surgical sciences used to join amputated limbs or organs. The term has made headline due to its recent application. A piece of general information regarding novelties of medical sciences should be known to the aspirants.

    Anastomosis Surgery

    • A surgical Anastomosis is a surgical technique used to make a new connection between two body structures that carry fluid, such as blood vessels or bowel.
    • It involves conjoining various parts of the arm and the hand — bones, muscles, tendons, arteries, veins as well as nerves.
    • Both radial and ulnar arteries, accompanying nerves and the dorsal vein were anastomosed successfully, allowing for the hand to receive adequate circulation.
    • The bones are attached using K wires (used for orthopaedic surgery) which can be removed once the bones conjoin organically.

    In which cases is re-implantation possible?

    • When a surgeon makes that decision, the factors that he or she considers include how much time has elapsed since the injury.
    • The condition of the severed organ and the nature of the injury are also taken into account.

    Can a reattached hand get its function restored?

    • That is the goal of doing such surgery. The extent of restored function, however, can vary from case to case.
    • While a successful surgery can result in the good return of motor function, studies have shown that sensory recovery can often be poor.
    • Whether the blood circulation is optimum after surgery can only be observed within the next few days.
    • The patient also needs to attend regular physiotherapy sessions for total restoration of motor movement and sensation in his hand.

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  • Indian Navy Updates

    What are MK 54 torpedoes, AGM-84L Harpoon missiles that US has cleared for sale to India?

    Prelims Only | Security Issues | Mains Paper 3: Various Security Forces, Agencies & Their Mandates

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Read the attached story

    Mains level: India-US arms trade

    The US has approved a military sale to India of 16 MK 54 all round up lightweight torpedoes and ten AGM-84L Harpoon Block II air-launched missiles. India plans to use the equipment requested in both the deals on the Indian Navy’s Boeing P-8I maritime aircraft.

    What is “Terminal High Altitude Area Defense (THAAD)” , sometimes seen in the news? (CSP 2018) .

    MK 54 lightweight torpedo

    • The MK 54 lightweight torpedo is known as the Lightweight Hybrid Torpedo (LHT).
    • It weighs around 608 pounds, while its warhead weighs around 96.8 pounds and is highly explosive.
    • The primary use of this equipment is for offensive purposes when deployed by anti-submarine warfare aircraft and helicopters, and for defensive purposes when deployed by ships and against fast, deep-diving nuclear submarines and slow-moving, quiet, diesel-electric submarines.

    AGM-84L Harpoon Block II air-launched missiles

    • The Harpoon missile system will be integrated into the P-8I aircraft to conduct anti-surface warfare missions in defence of critical sea lanes.
    • It uses GPS-aided inertial navigation to hit the designated target.
    • Its warhead weighs over 500 pounds and is capable of delivering lethal firepower against targets, including land-based targets, coastal defence sites, surface-to-air missile sites, exposed aircraft and industrial or port facilities.

    About P-8I aircraft

    • Boeing’s P-8s are designed for long-range anti-submarine warfare, anti-surface warfare and intelligence, surveillance and reconnaissance missions.
    • The P-8s India version is called the P-8I, and helps the Indian Navy carry out important maritime operations.
    • According to Boeing, the aircraft can surpass 25,000 flight hours, and gives the Navy a significant edge in the strategically important Indian Ocean.
    • India currently has eight of these aircraft and is scheduled to receive four more by 2022.

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  • Coronavirus – Health and Governance Issues

    Is the Centre’s lockdown different from a state’s lockdown?

    Prelims Only | Governance | Mains Paper 2: Health & Education

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Various provisions allowing lockdowns

    Mains level: Coronovirus outbreak and its mitigation

    The central government has extended the 21-day nationwide lockdown by two more weeks. Before this, some states had already ordered to extend the lockdown till the end of this month.

    How do the two lockdowns differ?

    Newspapers are flooded up with news on lockdowns. The two lockdowns are fundamentally different from each other. Such difference sparks a thought in the mind of question framers.

    1) State lockdowns

    • As per the Constitution, subjects of law and order and public health lie with state governments.
    • Additionally, the Epidemic Diseases Act of 1897, which many states have invoked to order a lockdown, empowers them to prescribe temporary regulations to prevent the outbreak and spread of disease.

    2) Centre’s lockdown

    • The lockdown ordered by the centre is implemented under the Disaster Management Act, 2005.
    • The Union home ministry, in compliance with the NDMAs order can issue orders for the lockdown under Section 10(2)(l) of the DMA.

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  • Modern Indian History-Events and Personalities

    Who are the Nihangs?

    Prelims Only | History | Mains Paper 1: Arts & Culture

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Nihang cult

    Mains level: Not Much

    The Patiala incident in which a group of Nihangs attacked a Punjab police officer has put the spotlight on the Nihangs.

    This newscard focuses on Nihang cult of Sikhism. Though in news for a different purpose, it is significant for prelims.

    Who is a Nihang?

    • Nihang is an order of Sikh warriors, characterized by blue robes, antiquated arms such as swords and spears, and decorated turbans surmounted by steel quoits.
    • Etymologically the word Nihang stems more from the Sanskrit word nihshank which means without fear, unblemished, pure, carefree and indifferent to worldly gains and comfort.
    • The word Nihang also occurs in a hymn in the Guru Granth Sahib, where it alludes to a fearless and unrestrained person.

    When was the order formed?

    • Formation of Nihang order can be traced back to the creation of the Khalsa by Guru Gobind Singh in 1699.

    How were Nihangs different from other Sikhs, and other Sikh warriors?

    • As per an account by the East India Company’s Colonel James Skinner (1778-1841), Khalsa Sikhs were divided into two groups.
    • Those who put on blue attire which Guru Gobind Singh used to wear at the time of battle and those who do not follow any restrictions on the colour of their dress.
    • Both of them follow the profession of soldiery and are brave without peer in the art of musketry and chakarbazi, and the use of quoits.
    • Nihangs observe the Khalsa code of conduct in its strictest sense.
    • They do not profess any allegiance to an earthly master. Instead of saffron they hoist a blue Nishan Sahib (flag) atop their shrines.

    What is their role in history?

    • Nihangs had a major role in defending the Sikh panth after the fall of the first Sikh rule (1710-15) when Mughal governors were killing Sikhs, and during the onslaught of Afghan invader Ahmed Shah Durrani (1748-65).
    • Nihangs also took control of the religious affairs of the Sikhs at Akal Takht in Amritsar.
    • They did not consider themselves subordinate to any Sikh chief and thus maintained their independent existence.
    • At Akal Takht, they held the grand council (Sarbat Khalsa) of Sikhs and pronounced the resolution (Gurmata) passed.
    • During Operation Bluestar in June 1984, some Nihangs, namely Ajit Singh Poohla, collaborated with the Punjab police to eliminate militants.

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  • Festivals, Dances, Theatre, Literature, Art in News

    Meru Jatra Festival

    Prelims Only | History | Mains Paper 1: Arts & Culture

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Meru Jatra

    Mains level: NA

    Odisha’s Ganjam district administration has banned the Meru Jatra festival and congregations related to it at temples on the occasion of Mahavishub Sankranti.

    Festive fairs in India are known for their age-old traditions and some historic background.  Meru Jatra is one of such fairs. We can expect a match the pairs question on such fairs.

    Meru Jatra

    • In Southern Odisha, the Meru Yatra festival is celebrated as the end of the month-long Danda nata dance festival.
    • Thousands of devotees gather at the Shakti Pitha shrine in the Taratarini Temple because it is one of the auspicious days during the Chaitra Yatra.
    • People from all over the state eat festive chhatua and drink Bel Pana to mark the occasion.

    What is Danda nata?

    • Danda as the name implies, is self-inflicted pain, which the danduas (people who participate in the festival) undergo to pay their obeisance to the lord Kali.
    • It is also a form of worshipping the lord Shiva and his consort Parvati.
    • The origin of the festival is generally traced to 8th and 9th AD after the decadence of Buddhism in Orissa.

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  • Corporate Social Responsibility: Issues & Development

    Covid-19 donations to CM Relief Fund won’t qualify as CSR

    Prelims Only | Governance | Mains Paper 2: Governance, Transparency & Accountability, Citizens Charters

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: CSR and its regulation

    Mains level: CSR/SSR activities and their impacts on social transformation

    The corporate affairs ministry has clarified that COVID-19 donations to CM Relief Fund won’t qualify as CSR contributions.

    Contributions considered under CSR

    • According to the ministry, contributions made to the State Disaster Management Authority to combat COVID-19 would qualify as CSR expenditure.
    • The contributions by companies to PM-CARES Fund to tackle the pandemic would be considered as CSR.
    • Ex-gratia payments made to temporary, casual and daily wage workers by companies will be considered as CSR expenditure under the company’s law, provided that such payments are over and above disbursement of wages.
    • The contribution towards ‘Chief Minister’s Relief Fund’ or ‘State Relief Fund for COVID-19’ would not be considered as spending towards CSR work.

    Note: Please remember or make note of the various contributions complying for CSR.

    Back2Basics: CSR in India

    • India is the first country in the world to make corporate social responsibility (CSR) mandatory, following an amendment to the Companies Act, 2013 in April 2014.
    • Prior to that, the CSR clause was voluntary for companies, though it was mandatory to disclose their CSR spending to shareholders.
    • Businesses can invest their profits in areas such as education, poverty, gender equality, and hunger as part of any CSR compliance.
    • Under the Companies Act, 2013, certain classes of profitable entities are required to spent at least 2 per cent of their three-year average annual net profit towards CSR activities.
    • Under Section 135 of the Companies Act, 2013, every company having net worth of at least ₹500 crore, turnover of ₹1,000 crore or more, or a minimum net profit of ₹5 crore during the immediately preceding financial year, has to make CSR expenditure.

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  • Human Rights Issues

    OPCW blames Syria for chemical attacks

    Prelims Only | International Relations | Mains Paper 2: Important International Institutions

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: OPCW

    Mains level: Usual turmoil in Syria

    The global chemical weapons watchdog, the Organisation for the Prohibition of Chemical Weapons (OPCW) has for the first time explicitly blamed Syria for chemical attacks.

    What did the report say?

    • President Bashar al-Assad’s air force used the nerve gas sarin and chlorine three times in 2017.
    • The findings came in the first report from a new investigative team set up by the OPCW to identify the perpetrators of attacks in Syria’s ongoing nine-year-long civil war.

    About OPCW

    • The OPCW is an intergovernmental organisation and the implementing body for the Chemical Weapons Convention, which entered into force on 29 April 1997.
    • The organisation is not an agency of the United Nations but cooperates both on policy and practical issues.
    • The OPCW, with its 193 member states, has its seat in The Hague, Netherlands, and oversees the global endeavour for the permanent and verifiable elimination of chemical weapons.
    • It promotes and verifies the adherence to the Chemical Weapons Convention, which prohibits the use of chemical weapons and requires their destruction.
    • It won the Nobel Peace Prize in 2013 for its work in Syria and says it has eliminated 97 per cent of the world’s chemical weapons.
    • The OPCW has the power to say whether chemical weapons were used in an attack it has investigated. In June 2018, it granted itself new powers to assign blame for attacks.

    Back2Basics: Syrian Crisis

    • The Syrian civil war is an ongoing multi-sided civil war in Syria fought between the Ba’athist Syrian Arab Republic led by Bashar al-Assad and various domestic and foreign forces opposing both the Syrian government.
    • Even before the conflict began, many Syrians were complaining about high unemployment, corruption and a lack of political freedom under Assad.
    • In March 2011, pro-democracy demonstrations erupted in the southern city of Deraa, inspired by the “Arab Spring” in neighbouring countries.
    • When the government used deadly force to crush the dissent, protests demanding the president’s resignation erupted nationwide. The unrest spread and the crackdown intensified.
    • Opposition supporters took up arms, first to defend themselves and later to rid their areas of security forces. Assad vowed to crush what he called “foreign-backed terrorism”.
    • The violence rapidly escalated and the country descended into civil war.

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