Dear Aspirants
IASbhai Current Affairs News Analysis | Prelims & Mains 2020-21 is an initiative to dilute major articles from leading Newspapers in India which are most relevant to UPSC preparation –‘THE HINDU, LIVEMINT , INDIAN EXPRESS’ and help millions of readers who find difficulty in answer writing and making notes everyday. Hence we choose articles on daily basis and analyse them with respect to UPSC PRELIMS 2021.

You can conquer almost any fear if you will only make up your mind to do so. For remember, fear doesn’t exist anywhere except in the mind.– Dale Carnegie

HIGHLIGHT INFO:

ORANGE COLOUR: Important for Prelims.

RED COLOUR: Important for Mains.

BLACK COLOUR: Must Read !

BLUE COLOUR : Important Links/Survey.

PINK COLOUR: Reports/Themes/Summits.

 23rd Oct Current Affairs News Analysis | Prelims & Mains 2021

 

CPI-IW : Base year shifted to 2016

      HEADLINES:

Consumer Price Index (CPI-IW) – Industrial Worker : Base year shifted to 2016, no change in dearness allowance

      WHY IN NEWS:

The government on Thursday launched the new series for retail inflation for industrial workers shifting the base year to 2016 from 2001.

SYLLABUS COVERED: GS 3 : Economy : Inflation

      ISSUE: 

The new series also incorporates the changes in the consumption pattern of the working class families since the earlier base year of 2001.

CPI-IW

  • The CPI-IW is mainly used for determining dearness allowance (DA) paid to central/state government employees and workers in the industrial sectors .

It is also used in fixation and revision of minimum wages in scheduled employments.

SIGNIFICANCE

  • Dearness allowance, which is linked to the Consumer Price Index for Industrial Workers (CPI-IW), will remain unchanged for now.

To make the new series comparable with the older one, the Ministry stated that it has to be calculated using a linking factor of 2.88.

  • Taking this into account, the CPI-IW for September is 118, and with linking factor it works out to be 339.8 as against 322.
  • The new series also incorporates the changes in the consumption pattern of the working class families since the earlier base year of 2001.

ALTERATIONS

  • Weight of fuel and light segment will now have a weight of 5.5 per cent as against 6.43 per cent earlier.
  • Pan, supari, tobacco and intoxicants will hold 2.07 per cent weight as against 2.27 per cent.
  • In the new 2016 series, 88 centres have been covered as against 78 centres in the 2001 series.
  • The dearness allowance is linked to an outdated index, but hereon, the aim is to keep revising the series every five years. – Labour Secretary

WHAT IS CONSUMER PRICE INDEX (CPI)?

  • The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services.

EXAMPLE
Transportation, food, and medical care etc.

It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them.

  • Changes in the CPI are used to assess price changes associated with the cost of living.
  • The CPI is one of the most frequently used statistics for identifying periods of inflation or deflation.

KEY TAKEAWAYS

  • The Consumer Price Index measures the average change in prices over time that consumers pay for a basket of goods and services.

CPI is the most widely used measure of inflation and, by proxy, of the effectiveness of the government’s economic policy.

  • The CPI statistics covers professionals, self-employed, poor, unemployed and retired people in the country.
  • It excludes non-metro or rural populations, farm families, armed forces, people serving in prison and those in mental hospitals.
  • CPI-W measures the Consumer Price Index for Urban Wage Earners and Clerical Workers while the CPI-U is the Consumer Price Index for Urban Consumers.

FORMULA

23rd Oct Current Affairs News Analysis

      IASbhai WINDUP: 

  • As per the recommendations of the International Labour Organization (ILO), Index Review Committee (IRC) and National Statistical Commission (NSC), the base year of price index numbers should be revised at frequent intervals.
  • Generally it should not be exceeding 10 years to reflect the changes that take place in the consumption pattern of consumers.
SUGGESTED READING : https://www.investopedia.com/terms/c/consumerpriceindex.asp 
     SOURCES:THE HINDU | 23rd Oct Current Affairs News Analysis

2+2 talks : Focus on regional issues

      HEADLINES:

2+2 talks will focus on regional issues

      WHY IN NEWS:

Timing not unusual, says MEA

SYLLABUS COVERED: GS 2 : IR

      ISSUE: 

India and the U.S. will discuss “salient regionalissues when U.S. Secretary of State Mike Pompeo and U.S. Defence Secretary Mark Esper travel to India next week for the “2+2 Ministerial dialogue”

2+2 MINISTERIAL DIALOGUE

  • This is an indication that ties with China will be on the agenda for talks on October 27.

The Third India-U.S. 2+2 Ministerial Dialogue will entail a comprehensive discussion on cross-cutting bilateral issues of mutual interest.

  • In addition, both sides will also exchange views on salient regional and global issues.

WHAT IS THE ‘2+2’ TALK?

It is a format of dialogue where the defence and foreign ministers or secretaries meet with their counterparts from another country.

  • India holds such talks with Japan and Australia, at the foreign secretary and defence secretary level.
  • India holds ministerial-level talks only with the US. Apart from India, the United States holds such ministerial dialogues with Australia and Japan also.
  • The talks were announced when Prime Minister Narendra Modi met US President Donald Trump in June 2017.
  • The “2+2” dialogue has replaced the Strategic and Commercial Dialogue between the foreign and commerce ministers of the two countries that were held during the previous Obama administration.

      IASbhai WINDUP: 

  • Even though there is a tonne of expectations from this mutual dialogue between the two countries, the dialogue is also the source of some worry.
  • The US has always been sceptical of India’s mammoth oil import from Iraq.

In the past, oil trade with Iran also has been a sensitive topic for both the countries, which this meeting is bound to bring up.

  • Another problematic pointer is India’s voluminous weaponry imports from Russia.
     SOURCES:PIB | 23rd Oct Current Affairs News Analysis

Kisan Suryodaya Yojana

      HEADLINES:

PM to inaugurate three key projects in Gujarat on 24th October

      WHY IN NEWS:

  • PM to launch ‘Kisan Suryoday Yojana’ for the farmers of Gujarat
  • PM to inaugurate Paediatric Heart Hospital attached with U.N Mehta Institute of Cardiology and Research Centre
  • PM to inaugurate Ropeway at Girnar
SYLLABUS COVERED: GS 3: Scheme

      ISSUE: 

Prime Minister will launch the ‘Kisan Suryodaya Yojana’ for the farmers of Gujarat.

KISAN SURYODAYA YOJANA

The Gujarat Government under Chief Minister Shri Vijay Rupani had recently announced the ‘Kisan Suryodaya Yojana’.

AIM

To provide day-time power supply for irrigation.

  • Under this scheme, farmers will be able to avail power supply from 5 AM to 9 PM.

FUNDING

  • The state government has allocated a budget of Rs.3500 crore for installing transmission infrastructure under this scheme by 2023.

COVERAGE

  • 234 ‘66-Kilowatt’ transmission lines, with a total length of 3490 circuit kilometers (CKM) will be established under the project.
  • Dahod, Patan, Mahisagar, Panchmahal, Chhota Udepur, Kheda, Tapi, Valsad, Anand and Gir-Somnath have been included under the Scheme for 2020-21.

      IASbhai WINDUP: 

The remaining districts will be covered in a phase-wise manner by 2022-23.

     SOURCES:THE HINDU & PIB | 23rd Oct Current Affairs News Analysis

Indian National Science Academy

      HEADLINES:

CSIR-CDRI Scientist Dr Saman Habib elected as fellow of Indian National Science Academy, New Delhi

      WHY IN NEWS:

Dr Habib bagged fellowship of all three premier Science Academies of India

MINISTRY? :- Ministry of Science & Technology
SYLLABUS COVERED: GS 2 : Institutions

      ISSUE: 

Dr. Saman Habib, Chief Scientist CSIR-CDRI, Lucknow brought the laurels for her outstanding work for understanding the malaria parasite.

THE INDIAN NATIONAL SCIENCE ACADEMY

  • The Indian National Science Academy was established in January 1935 .

The objective was to of promoting science in India and harnessing scientific knowledge for the cause of humanity and national welfare. 

  • Promotion of scientific knowledge in India including its practical application to problems of national welfare.

MAJOR OBJECTIVES

  • Coordination among Scientific Academies, Societies, Institutions, Government Scientific Departments and Services.

To act as a body of scientists of eminence for the promotion and safeguarding of the interests of scientists in India .

  • To present internationally the scientific work done in the country.
  • To act through properly constituted National Committees, in which other learned academies and societies may be associated.

      IASbhai WINDUP: 

For undertaking scientific work of national and international importance which the Academy may be called upon to perform by the public and by the Government.

     SOURCES: PIB | 23rd Oct Current Affairs News Analysis

 

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