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12 January 2021 Daily Current Affairs

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Tapas and SWiFT, refers to which of the following?

a.   Anti-tank guided missile
b.   Unmanned Aerial Vehicle
c.   Ballistic Missile Submarine
d.   Underground missile silo

2)Sitamma Sagar, sometimes seen in the news recently, is a multi-purpose project built across which of the following rivers?

a.   R. Hoogly
b.   R. Cauvery
c.   R. Ghaggar
d.   R. Godavari

3)Which of the following organization prepares and releases Food Price Index?

a.   World Trade Organization (WTO)
b.   Food and Agriculture Organization (UN-FAO)
c.   Food Corporation of India (FCI)
d.   Ministry of Consumer Affairs

Mains Question of the Day :- India’s Foreign policy needs a substantial change if it wants to remain relevant in the present times. Discuss.

News:- SC ‘intends’ to stay farm laws : Supreme court while hearing the centres argument regarding the ongoing farmers protest has hinted that it might put an stay on the farm laws and instead form a committee headed by a retired CJI to make cooperation between the farmers and centre possible and to eliminate the dispute between the two.

Though the farmers have hinted that they are in no mood to take part in any committee proceedings and they want the total repeal of the farm laws.

Also they want the MSP as a legal security i.e by statute or through law.

Extra Fact : MSP is recommended by CACP and approved by CCEA headed by PM.

News:- ₹1,364 crore given to wrong beneficiaries of PM-Kisan

PM-KISAN payments worth ₹1,364 crore have been wrongly made to more than 20 lakh ineligible beneficiaries and income tax payer farmers.

Extra Information:- About PM-KISAN :- Pradhan Mantri Kisan Sammann Nidhi (PM-KISAN) was launched by the Centre in 2019 and under the scheme, an income support of Rs 6,000 per year in three equal installments is paid to small and marginal farmer families having combined land holding or ownership of up to 2 hectares.

News:- Dzukou Valley wildfire doused :- The wildfire at Dzukou Valley straddling the ManipurNagaland border has been doused after it raged for two weeks.

The Dzukou Valley, situated at an average altitude of 2,452 metres, is a popular trekking destination known for its exotic flowers.

The National Disaster Response Force (NDRF) teams engaged for fighting the wildfire would also be de-inducted.

Extra Information : About NDRF :- Currently, NDRF is made up of 12 Battalions. Each Battalion consists of 1149 personnel. NDRF was constituted as per Section 44-45, of Disaster Management Act, 2005. This Bill was passed in Parliament in the year 2005. President of India gave his assent to the Bill in 2006. 

Head of NDRF is designated as Director General (DG). Usually, an IPS Officer is the head of NDRF. The apex body of disaster management is the National Disaster Management Authority (NDMA). NDRF functions under NDMA. Chairman of NDMA is the Prime Minister.

Chairman of SDMA is CM.

Chairman of DDMA is DM.

News:- Financial Stability Report : Report released by the RBI. In this the RBI governor says that there is a difference between the Financial Market and the actual economic condition. Sometimes the growth of Financial MArket does not correspond with the real economic situations and thus impact the stability of the economy.

What is Financial Market :- Financial markets refer broadly to any marketplace where the trading of securities occurs, including the stock market, bond market, forex market, and derivatives market, among others. Financial markets are vital to the smooth operation of capitalist economies.

News:- Why Steel Prices are rising :- Reasons are as Follows :-

  • Production of Iron ore has decreased in India and that is the major cause.
  • Increase in input prices of Iron ore increases the price of steel
  • China which is the major producer of Steel was importing majority of iron ore from Australia and since the relations between Australia and china have not been good lately that has impacted the iron ore import as well.

EDITORIALS of the DAY :-

Reframing India’s Foreign Policy Priorities :-

Author Highlights major changes in the Global arena :-

  1. America’s Power Change
  2. Europes Shift towards China through the China-EU investment Treaty.
  3. China Getting Stronger
  4. India getting isloated

Author says that China will grow stronger in 2021. As With EU its relations have improved, with Russia too it is coming closer, With Iran it celebrates 25 years of strategic relations. Also countries in Asia are picking sides among India and China and the major ones are choosing China.

Then Author comes to India and points out that we are getting isolated not only in Asia due to china but also in the global arena. Due to our closeness in ties with America, Iran and Russia are already moving away from us.

Also our relationship with Nepal has been strained. Not only this due to our internal tensions like the Farm laws and the CAA and J&K even new power in USA will not be much in our favour.

Amid these tensions, India is getting secluded from international organisations like not joining BRI or RCEP. Also the relevance of NAM, SAARC and BIMSTC is not much.

Other than these tensions with Pakistan and China still remain.

Thus amid all these the author suggest that India needs a serious rethinking in its Foreign Policy.

EDITORIAL 2:- Arrow’s PARADOX

The mathematician Kenneth Arrow laid bare the flaws in elections. Arrow’s doctoral thesis, completed in the 1950s, identified that in any electoral system where three or more preferences exist, a curious paradox comes into play: proponents of the minority voice can dictate the broader choice. His finding is now called Arrow’s Paradox.

Author says that social media has strengthened the Arrow’s Paradox. The excessive use of social media and technologies has reduced the attention span of Human beings from 12 seconds( 10 years ago) to 8 Seconds (today). This is even lesser than the attention span of the goldfish.

Thus because of this the Minority Views are spread much more quickly and then the consequences change in favour of the Minority opinions. This is what Arrow’s Paradox is.

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