DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam –1st June 2024
Archives (PRELIMS & MAINS Focus) AGNIBAAN SOrTeD (suborbital technological demonstrator) Syllabus Prelims – Current Event Context: Chennai-based space startup AgniKul Cosmos launched a single-stage technology demonstrator rocket — Agnibaan SOrTeD (suborbital technological demonstrator) — from Sriharikota. Background:- Founded in 2017 by Srinath Ravichandran, Moin S P M, and S R Chakravarthy, AgniKul became the first Indian firm to sign an agreement with Isro in December 2020. This pioneering agreement was facilitated under the IN-SPACe initiative, granting AgniKul unprecedented access to Isro’s expertise and cutting-edge facilities. The company is one of the highest-funded space startups in India and has raised $42 million so far. Key takeaways India made history in the space sector on Thursday with the first launch from a private launchpad of the country’s second privately built rocket and the first using a combination of gas and liquid fuel. SOrTeD uses the world’s first single-piece 3D-printed engine, designed and built indigenously. This launch is also considered historic because the Indian Space Research Organisation (ISRO) has not yet successfully flown a semi-cryogenic engine, in which a mix of liquid and gas is used as a propellant. Agnibaan also has the unique distinction of having been launched from India’s first private launchpad Dhanush, established by AgniKul. The key purpose of this mission is to serve as a test flight, demonstrate in-house and home-grown technologies, gather crucial flight data, and ensure optimal functioning of systems for AgniKul’s orbital launch vehicle, the ‘Agnibaan’. The Agnibaan rocket is a customisable, two-stage launch vehicle that can carry up to 300 kilogram (kg) of payload to orbits nearly 700 kilometre in altitude, the company said. The startup is looking at flying an orbital mission towards the end of 2024–25 and is working with customers on flights starting regularly in the calendar year 2025. It was in November 2022 that a private company, Skyroot Aerospace, successfully developed and operated the launch vehicle Vikram-S on a sub-orbital flight from Satish Dhawan Space Centre SHAR, becoming the first player to do so. Source: Business Standard AHILYABAI HOLKER Syllabus Prelims – HISTORY Context: On May 31, we celebrated the 300th birth anniversary of the Maratha queen Ahilya Bai Holkar — a great administrator and visionary with a spiritual inclination. Background: “The reign of Ahilyabai, of Indore in central India, lasted for thirty years. This has become almost legendary as a period during which perfect order and good government prevailed and the people prospered. She was a very able ruler and organizer, highly respected during her lifetime, and considered as a saint by a grateful people after her death.” – Jawaharlal Nehru (The Discovery of India/1946) About AHILYABAI HOLKER Rajmata Ahilyabai Holkar was the Holkar Queen of the Malwa kingdom. She is regarded as one of the most visionary female rulers of India. Born on 31 May 1725, in the village of Chondi in Jamkhed, Ahmednagar (Maharashtra), Ahilya hailed from a very humble background. Her father Mankoji Rao Shinde was the village head, and he taught her to read and write. As a young girl, the combination of her simplicity and strength of character caught the attention of Malhar Rao Holkar, the Lord of the Malwa territory. He was so impressed with the young Ahilya that in 1733 when she was barely eight years old, he got her married to his son Khanderao Holkar. Twelve years after her marriage, her husband Khanderao died during the siege of the Kumher Fort.After the death of her husband, Ahilyabai was stopped by her father-in-law from committing sati. Instead, he took her under his wing and trained her in military and administrative matters. Her father in law, Malhar Rao passed away in 1766, and in the following year, she lost her son, Male Rao. Keeping in mind the welfare of the kingdom and her people, she petitioned the Peshwa to allow her to take over the reign of Malwa. Although some of the nobles objected to this, she still had the support of the army. In 1767, the Peshwa granted Ahilyabai permission to take over Malwa. She ascended the throne and became the ruler of Indore on 11 December 1767. For the next 28 years, Maharani Ahilyabai ruled over Malwa in a just, wise, and knowledgeable manner. Under Ahilyabai’s rule, Malwa enjoyed relative peace, prosperity, and stability, and her capital, Maheshwar, was turned into an oasis of literary, musical, artistic, and industrial pursuits. Ahilyabai also established a textile industry in Maheshwar, which today is very famous for its Maheshwari sarees. Her most notable contribution was the renovation and repair of the famous Kashi Vishwanath Temple in 1780. The ‘Philosopher Queen’ as she is famously known, passed away on 13th August 1795 at the age of seventy. Her legacy still lives on and the various temples, Dharamshalas, and public works undertaken by her stand as a testimony to the great warrior queen she was. Source: Indian Culture FOREIGN DIRECT INVESTMENT (FDI) EQUITY INFLOWS Syllabus Prelims & Mains – ECONOMY Context: According to the latest data released by the government, foreign direct investment (FDI) equity inflows in India decreased by 3.49 per cent in FY24 to $44.42 billion. Reduced investments in sectors such as services, computer hardware and software, telecom, auto, and pharma, are being attributed as the primary reasons for the slump. Background: Foreign investment, including FDI equity inflows, is needed to supplement domestic resources and finance the current account deficit. FDI inflows are a good indicator of a nation’s appeal as a long-term investment destination. The total FDI, which includes equity inflows, reinvested earnings, and other capital, saw a slight decrease of 1 per cent to $70.95 billion in FY24, down from $71.35 billion in FY23, as reported by the Department for Promotion of Industry and Internal Trade (DPIIT). Key Takeaways The FDI inflows into the manufacturing sector in FY24 are one of the lowest in the past five years, according to the provisional FDI data published in the RBI annual report. The manufacturing sectors received $9.3 billion FDI in FY24, which was 17.7 per cent
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