10 June 2023 : Daily Current Affairs

DAILY CURRENT AFFAIRS

10-June-2023

Daily Current Affairs For UPSC ,Daily Current affairs of The hIndu and Indian Express.

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1. ‘Economy on autopilot, won’t overheat for years’

Topic: GS2 – Indian economy.

Context:

• • • The Chief Economic Adviser of India, V. Anantha Nageswaran, stated that the Indian economy is on “autopilot” mode and will grow steadily in the range of 6.5-7% until 2030, even without further reforms.

Issue:

• • • He mentioned that the initial estimate of 7.2% GDP growth for 2022-23 could be an underestimate and expects the final figures to be even higher.

    • Nageswaran highlighted that the Indian economy has recovered from the pandemic-induced contraction, and private consumption growth has caught up with the pre-pandemic trend.

    • He expressed confidence that India has the potential to achieve steady growth between 6.5-7% until 2030, and with additional reforms in areas like skilling and factor markets, the growth rate could reach 7-7.5% or even 8%.

    • The Chief Economic Adviser, Mr. Nageswaran, believes that India’s size and per capita income levels pose challenges but also present opportunities for economic growth.

    • He sees unresolved issues as low-hanging fruits that, once addressed, can unlock further economic growth.

    • In the past, the Indian economy would often face problems of inflation, increased imports, and an expensive currency after a few years of strong growth, requiring drastic action.

    • However, due to positive developments in the past eight to nine years, Mr. Nageswaran believes that the economy can now sustain strong growth for a longer period of eight to ten years without overheating.

2. Govt. will regulate AI if it brings harm to users

Topic: GS3 – Science and technology.

Context:

• • • Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, stated that any regulation of artificial intelligence (AI) in India would prioritize the prevention of user harm.

Issue:

• • • He expressed skepticism about AI applications in their current form significantly replacing jobs, stating that AI is task-oriented and not yet sophisticated enough for reasoning or logic-based functions.

    • Chandrasekhar assured that platforms causing harm to citizens would not be allowed to operate in India, and if they do, they would be required to mitigate those harms.

    • The Minister attributed the introduction of the ‘safe harbour’ clause in the IT Act in 2008, which he sees as providing a free pass to big tech companies, to the Congress-led UPA government.

    • Sam Altman, CEO of OpenAI, discussed AI regulation with Prime Minister Narendra Modi during their meeting, reflecting Altman’s ongoing conversations on the subject with other world leaders.

    • Safe harbour refers to the legal immunity that platforms have for user-generated content.

    • The Minister, stated that the growth of toxicity, illegality, criminality, and user harm has been unchecked.

    • The government plans to pass a new data protection Bill and is working on the Digital India Bill as a modern replacement for the Information Technology Act.

    • The draft of the Digital India Bill is expected to be released in June, and the government is considering eliminating the safe harbour clause in the new law.

3. Piped potable water across India will avert 4,00,000 diarrhoea deaths, finds WHO

Topic: GS3 – Health and sanitation.

Context:

• • • The Jal Jeevan Mission aims to provide piped potable water to all of India.

    • A modelling study commissioned by the Jal Shakti Ministry and conducted by the World Health Organization (WHO) predicts that achieving 100% coverage under the mission would avert around 4,00,000 deaths from diarrhoea.

Issue:

• • • It would also save 14 million DALYs (Disability Adjusted Life Years) and approximately $101 billion.

    • Currently, about 62% of rural households in India have piped water connections, up from 16.6% in 2019.

    • The study is based on extrapolation and does not account for the present level of coverage or the degree of contamination in the piped water.

    • Several states and union territories, including Gujarat, Telangana, Haryana, Punjab, and Andaman & Nicobar Islands, Daman Diu & Dadra Nagar Haveli, and Puducherry, have reported 100% coverage under the mission.

    • Himachal Pradesh and Bihar are also expected to achieve saturation in the near future.

    • The Secretary of the Department of Drinking Water and Sanitation highlighted that every dollar invested in sanitation interventions provides a $4.3 return in the form of reduced healthcare costs.

4. India, France, UAE hold exercise in Gulf of Oman.

Topic: GS2 – Defence cooperation

Context:

• • • The navies of India, France, and the United Arab Emirates (UAE) conducted their first trilateral maritime partnership exercise.

    • The exercise took place on June 7 and June 8 in the Gulf of Oman.

Issue:

• • • The Indian Navy participated with the stealth frigate INS Tarkash.

    • The training included cross embarkation of personnel to facilitate the exchange of best practices.

    • The exercise aimed to strengthen maritime ties between the participating navies and enhance interoperability.

    • The focus was on addressing traditional and non-traditional threats in the maritime environment.

    • The exercise aimed to ensure the safety of mercantile trade and freedom of navigation in the high seas region.

    • The exercise signifies the commitment of the participating countries to regional security and cooperation.

5. Russia to deploy nuclear weapons in Belarus in July

Topic: GS2 – International relations.

Context:

• • • Russia will deploy tactical nuclear weapons in Belarus after completing special storage facilities on July 7-8.

Issue:

• • • This marks the first time Moscow is moving such weapons outside Russia since the Soviet Union’s dissolution.

    • President Putin accuses the United States and Western allies of arming Ukraine as part of a proxy war against Russia.

    • Putin’s announcement in March about deploying nuclear weapons in Belarus was seen as a warning to NATO.

    • NATO countries pledge support to Ukraine to defend itself against what they perceive as Russia’s aggression.

    • Putin frames the conflict as a battle for Russia’s survival against an expanding NATO.

    • The nuclear deployment decision by Putin is being closely monitored by the US and NATO allies.

6. Australia seeking to stabilise, not normalise, relations with China

Topic: GS2 – International relations.

Context:

• • • The outgoing Australian High Commissioner to India, Barry O’Farrell, stated that Australia seeks to stabilize relations with China, not normalize them, similar to India’s position.

Issue:

• • • Both India and Australia continue to engage with China to resolve bilateral issues and prevent further instability in the region.

    • O’Farrell clarified that the AUKUS partnership is a technology transfer agreement, not an alliance, and expressed Australia’s support for the status quo in Taiwan.

    • Australia does not typically restrict exports, such as lithium, to China for strategic reasons but focuses on trade based on the demand for its goods.

    • Australia aims to establish secure supply chains for critical minerals and rare earths with India and Japan, particularly through Khanij Bidesh India Ltd (KABIL).

    • The closure of Chinese borders to certain Australian products during COVID-19 highlighted the risks of operating in a non-democracy.

    • The India-Australia relationship is influenced by people-to-people links and the energetic Indian diaspora, which holds significance for both countries.

    • India and Australia have complementary economies, and a side deal in the Economic Cooperation and Trade Agreement (ECTA) allows Indian chefs and yoga masters to come to Australia.

    • While optimistic about signing a Comprehensive Economic Cooperation Agreement between India and Australia, O’Farrell acknowledged the need for such deals to be saleable to electorates in democracies.

7. Forex reserves jump $5.9 bn to $595 bn: Reserve Bank data

Topic: GS2 – Indian economy.

Issue:

• • • India’s foreign exchange reserves increased by $5.929 billion to reach $595.067 billion for the week ended June 2.

    • The reserves had experienced a decline in the two previous weeks, dropping by $4.34 billion to $589.14 billion.

    • Foreign currency assets, a significant component of the reserves, saw an increase of $5.27 billion to reach $526.201 billion.

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