DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 25th December 2023
Archives (PRELIMS & MAINS Focus) Good Governance Day Syllabus Prelims –GOVERNANCE Context: Good Governance Day was celebrated recently. Background:- There are many examples of good governance in Bharat’s long history. About Good Governance Day:- Origin: 2014. Good Governance Day will be celebrated today on the birth anniversary of former Prime Minister Atal Bihari Vajpayee. The day is celebrated on the 25th of December every year. Objective: to foster awareness among the people of the country about accountability in Governance and Government. Good governance is concerned with the manner in which power is exercised in the management of a country’s economic and social resources for development. The concept is related to the responsibility of governments and governing bodies to meet the needs of the masses. Elements of good governance:- Participation: People should be able to voice their own opinions through legitimate immediate organisations or representatives. Consensus-oriented Oriented: Mediates differing interests to meet the broad consensus on the best interests of a community. Example: GST council- centre and states together. Equity and Inclusiveness: People should have opportunities to improve or maintain their well-being. Example: affirmative policies for women, children and backward classes. Effectiveness and Efficiency: Processes and institutions should be able to produce results that meet the needs of their community while making the best of their resources. Accountability: Governmental institutions, private sectors, and civil society organizations should be held accountable to the public and institutional stakeholders. Example: elections. Transparency: Information should be accessible to the public and should be understandable and monitored. Example: RTI, Draft bills made public to get feedback. Responsiveness: Institutions and processes should serve all stakeholders, and respond to their grievances. (Global Digital Governance) Significance:- Spread Awareness on Governance Fair Treatment of Citizens Promote e-governance MUST READ: Corruption SOURCE: THE INDIAN EXPRESS PREVIOUS YEAR QUESTIONS Q.1) Which of the following statements is/are correct regarding the Maternity Benefit Amendment Act, 2017? (2019) Pregnant women are entitled to three months of pre-delivery and three months of post-delivery paid leave. Enterprises with creches must allow the mother a minimum of six creche visits daily. Women with two children get reduced entitlements. Select the correct answer using the code given below. 1 and 2 only 2 only 3 only 1, 2 and 3 Q.2) With reference to the ‘stand up India scheme’, which of the following statements is/are correct? (2016) Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs. It provides for refinancing through SIDBI. Select the correct answer using the code given below. 1 only 2 only Both 1 and 2 Neither 1 nor 2 Forex reserves Syllabus Prelims –ECONOMY Context: Recently, Forex reserves jumped $2.816 billion to $606.859 billion. Background:- India’s forex reserves jumped $2.816 billion to $606.859 billion in the week ended December 8, the Reserve Bank of India (RBI) said on December 15. About Forex reserves:- Foreign Exchange Reserves are assets held on reserve by a central bank in foreign currencies. This can include bonds, treasury bills and other government securities. Reserves are denominated and expressed in the US dollar, which is the international numeraire for the purpose. RBI is the custodian of the Foreign exchange reserves in India. India’s Forex Reserve includes:- Foreign Currency Assets(FCA) Assets that are valued based on a currency other than the country’s own currency. It is the largest component of the forex reserve. Gold reserves Special Drawing Rights Assets that are valued based on a currency other than the country’s own currency. It is the largest component of the forex reserve. Reserve position with the International Monetary Fund (IMF) It is the largest component of the forex reserve. Significance:- They are used to back liabilities on their own issued currency, support the exchange rate and set monetary policy. It serves as a cushion in the event of a Balance of Payment (BoP) crisis on the economic front. To ensure that RBI has backup funds if their national currency rapidly devalues or becomes altogether insolvent. If the value of the Rupee decreases due to an increase in the demand for foreign currency, and then RBI sells the dollar in the Indian money market so that depreciation of the Indian currency can be checked. Reserves will provide a level of confidence to markets and investors that a country can meet its external obligations. A good forex reserve helps in attracting foreign trade and earns a good reputation with trading partners. MUST READ: Rupee Depreciation SOURCE: THE HINDU PREVIOUS YEAR QUESTIONS Q.1) Consider the following statements: (2021) The effect of the devaluation of a currency is that it necessarily Improves the competitiveness of the domestic exports in the foreign markets Increase the foreign value of the domestic currency Improves the trade balance Which of the above statements is/are 1 only 1 and 2 3 only 2 and 3 Q.2) Which one of the following is not the most likely measure the Government/RBI takes to stop the slide of the Indian rupee? (2019) Curbing imports of non-essential goods and promoting exports Encouraging Indian borrowers to issue rupee-denominated Masala Bonds Easing conditions relating to external commercial borrowing Following an expansionary monetary policy Pandit Madan Mohan Malaviya Syllabus Prelims –HISTORY/ IMPORTANT PERSONALITIES Context: PM remembered Pandit Madan Mohan Malaviya on his birth anniversary recently. Background:- On the occasion of the 162nd birth anniversary of Mahamana Pandit Madan Mohan Malaviya, Prime Minister Shri Narendra Modi will release first series of 11 volumes of ‘Collected Works of Pandit Madan Mohan Malaviya’. About Pandit Madan Mohan Malaviya:- The birth anniversary of Mahamana Pandit Madan Mohan Malaviya is celebrated on 25th He is an Indian educationist and politician notable for his role in the Indian Independence movement. Madan Mohan Malaviya, the illustrious founder of Banaras Hindu University. He occupies a leading place among the makers of modern India. He is remembered as an outstanding scholar and freedom fighter who worked immensely to raise national consciousness among people. Contributions:- He Founded Hindu Mahasabha in 1906. He Founded Banaras Hindu University (BHU) in 1915. He served as Vice-Chancellor from 1919 to 1938. He
DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 25th December 2023 Read More »