DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 21st November 2023
Archives (PRELIMS & MAINS Focus) India and Australia Syllabus Prelims –INTERNATIONAL RELATIONS Context: Recently, India and Australia exchanged views on deepening multifaceted ties in several areas in two-plus two dialogues in New Delhi. Background:- The second India-Australia Two plus Two Dialogue was held in New Delhi . About India and Australia:- The Australia-India relationship was upgraded to a Comprehensive Strategic Partnership (CSP) in June 2020. (India-Australia relations) It is based on mutual understanding, trust, close connections and a shared vision of a stable, open and prosperous Indo-Pacific. Diplomatic Relationship:- Australia and India established diplomatic relations in 1943 when Lieutenant-General Sir Iven Mackay was appointed Australia’s first High Commissioner to India. India’s first High Commissioner to Australia, Sir Raghunath P Paranjpe arrived in Canberra in 1945. Australia is one of only three countries with which India holds annual leader-level summits. The Prime Ministers of Australia and India also regularly interact at major international meetings, including through the Quad, G20 and East Asia Summit. In addition, Australian and Indian Foreign and Defence Ministers meet every second year to discuss strategic issues in a ‘2+2’ format. People-to-people Relationship:- The Indian community is Australia’s second-largest, and fastest-growing, overseas-born group. In the 2021 Census, the number of people reporting Indian heritage was 976,000. Of these, there were 673,000 Indian-born Australians, representing 2.6 per cent of the Australian population. India remains Australia’s largest source of skilled migrants. India is also the second-largest source of international students. Economic relationship:- According to the International Monetary Fund (IMF), India is the world’s fifth-largest economy in nominal terms and third-largest by Purchasing Power Parity. The IMF estimates India’s GDP will grow by 5.9 per cent in 2023 and 6.2 per cent in 2025. In 2022, India was Australia’s sixth-largest two-way goods and services trading partner and fourth-largest goods and services export market. Two-way goods and services trade with India was $48.4 billion in 2022. Australia’s exports to India totalled $34.8 billion and imports from India totalled $13.5 billion in 2022. Australia’s stock of investment in India was $17.6 billion in 2022. India’s total investment in Australia was $34.5 billion. Environmental Relationship:- During Prime Minister Modi’s visit to Sydney in May 2023, Australia and India agreed on Terms of Reference for the Australia-India Green Hydrogen Taskforce. The task force will be comprised of Australian and Indian experts in green hydrogen production and deployment. It complements the work of the India-Australia Solar Taskforce welcomed by the Prime Ministers of Australia and India in March 2023. The Solar Taskforce will provide advice on opportunities to accelerate solar PV deployment and enhance supply chains. The Australia-India Green Steel Partnership is helping India meet growing steel requirements while supporting the commercialization of innovative technologies that improve efficiencies and environmental outcomes in steel production. Education Relationship:- Education is Australia’s largest service export to India, valued at $4.4 billion in 2022. As of May 2023, almost 88,000 Indian visa holders were studying in Australia. Defence Relationship:- Australia’s defence engagement with India gathered significant momentum in 2022 and has continued to grow. Since signing our CSP in 2020 and the Mutual Logistics Support Agreement in 2021. For the first time in 2023, Australia will host Exercise Malabar – a joint training initiative with India, the US and Japan. They regularly exercise together during Exercise AUSTRAHIND and AUSINDEX, bilateral army and navy exercises. They conduct Maritime Patrol Aircraft deployments to enhance maritime domain awareness. MUST READ: India-Australia Economic Co-operation and Trade Agreement SOURCE: AIR PREVIOUS YEAR QUESTIONS Q.1) With reference to the “G20 Common Framework”, consider the following statements (2022) It is an initiative endorsed by the G20 together with the Paris Club. It is an initiative to support Income Countries with unsustainable debt. Which of the statements given above is/are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Q.2) The ‘Fortaleza Declaration’ recently in the news, is related to the affairs of:(2015) ASEAN BRICS OECD WTO Employees’ Provident Fund Organisation (EPFO) Syllabus Prelims – ECONOMY Context: Recent data shows that the Employees’ Provident Fund Organisation (EPFO) added 17.21 lakh net members during September 2023. Background:- This is an increase of 21 thousand 475 net members over the previous month of August. About Employees’ Provident Fund Organisation (EPFO):- The EPFO is under the administrative control of the Ministry of Labour and Employment, Government of India. It is one of the World’s largest Social Security Organisations in terms of clientele and the volume of financial transactions undertaken. It into existence with the promulgation of the Employees’ Provident Funds Ordinance on the 15th of November 1951. It was replaced by the Employees’ Provident Funds Act, of 1952. The Employees’ Provident Funds Bill was introduced in the Parliament in the year 1952 as a Bill to provide for the institution of provident funds for employees in factories and other establishments. The Act is now referred to as the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 which extends to the whole of India. The Act and Schemes framed there under are administered by a tri-partite Board known as the Central Board of Trustees, Employees’ Provident Fund. The Central Board of Trustees : It consists of representatives of Government (Both Central and State), Employers, and Employees. It administers a contributory provident fund, a pension scheme and an insurance scheme for the workforce engaged in the organized sector in India. It is assisted by the Employees’ PF Organization (EPFO), consisting of offices at 138 locations across the country. The Organization has a well-equipped training set-up where officers and employees of the Organization as well as Representatives of the Employers and Employees attend sessions for training and seminars. Vision: An innovation-driven social security organisation aiming to extend universal coverage and ensure Nirbadh (Seamless and uninterrupted) service delivery to its stakeholders through state-of-the-art technology. Schemes under EPFO:- EPF Scheme 1952 It provides for the accumulation plus interest upon retirement and death. Partial withdrawals are allowed for education, marriage, illness and house construction. (Nidhi Aapke Nikat 2.0) Pension Scheme 1995
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