29 September 2023 : Daily Current Affair
Daily Current Affairs
29-September-2023
1. What is the ‘Five Eyes’ intelligence alliance?
Topic: GS2 – International collaboration.
What is the five eyes:
- ‘Five Eyes’ is a multilateral intelligence-sharing alliance consisting of five countries: Australia, Canada, New Zealand, the U.K., and the U.S.
- It primarily focuses on surveillance and signals intelligence (SIGINT) and shares classified intelligence documents among member countries.
- The alliance originated during World War II and aimed to counter the Cold War Soviet threat by sharing intelligence related to signals, including radio, satellite, and internet communications.
- The formal agreement, known as the British-U.S. Communication Intelligence Agreement (BRUSA, now UKUSA Agreement), was signed between the U.S. and the U.K. in 1946 and later extended to include Canada, Australia, and New Zealand.
- The existence of the alliance remained highly secretive for decades, with public knowledge of the agreement emerging only in recent years.
- Each member country has specific SIGINT mandates, covering various regions and intelligence domains.
- Over time, the focus of ‘Five Eyes’ has shifted from the Cold War era to address contemporary challenges such as terrorism and the influence of China.
- The alliance has expanded its activities to include ocean surveillance, medical intelligence, counterterrorism, and intelligence sharing through a collective database known as ‘Stone Ghost.’
- Concerns have been raised about privacy, security, and the working methods of the intelligence alliance, particularly after Edward Snowden’s disclosures in 2013, which characterized it as a “supranational intelligence organization” not bound by its own countries’ laws.
2. MGNREGS social audit unit in a state of paralysis in many States
Topic: GS2 – governance
 Context:
- The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) faces criticism for alleged corruption, despite having social audit units designed to detect malpractice.
- Statistics from the Union Rural Development Ministry show that in the current financial year, less than 14% of the amount flagged by auditors for misappropriation has been recovered.
- Recovery rates in previous financial years have also been low, with only a small fraction of the flagged amounts being recovered.
Importance of social audit in government programs:
- Accountability: Social audits help hold government programs accountable for their actions and spending, ensuring transparency and reducing the risk of corruption.
- Citizen Participation: They encourage citizen involvement in the monitoring and evaluation of government initiatives, promoting democracy and empowering communities.
- Improved Governance: Social audits can lead to more efficient and effective governance by identifying areas of improvement and recommending necessary changes.
- Trust Building: When citizens see that their government is committed to transparency and accountability, it builds trust and confidence in public institutions.
- Identifying Gaps: Social audits can reveal gaps in program implementation, helping authorities address issues and reach the intended beneficiaries more effectively.
- Resource Allocation: They assist in ensuring that resources are allocated equitably and reach marginalized and vulnerable populations.
- Preventing Mismanagement: By regularly reviewing program performance, social audits can prevent mismanagement of funds and resources.
- Learning and Adaptation: Social audits provide opportunities for learning and adapting programs to changing circumstances and needs.
Mains question: Discuss the significance of social audits in government programs and their role in promoting transparency, accountability, and citizen participation in governance.
3. Current account deficit widens QoQ to $9.2 bn on trade gap
Topic: GS3 – Indian economy.
Context:
- India’s current account deficit (CAD) increased to $9.2 billion (1.1% of GDP) in the April-June quarter.
More about this news:
- This widening of CAD is primarily due to a higher trade deficit, lower surplus in net services, and a decline in private transfer receipts.
- Net services receipts fell due to a decline in exports of computer, travel, and business services, although they remained higher on a year-on-year basis.
- Private transfer receipts, representing remittances, moderated to $27.1 billion from $28.6 billion in the previous quarter.
- The fall in remittances is concerning, especially amid slowing global growth, and it could impact CAD, which was expected to rise in the first quarter.
- Factors like higher merchandise trade deficit, softening in services trade surplus, and rising oil prices contribute to the upward pressure on CAD estimates.
- Net income outgo decreased to $10.6 billion, reflecting payments of investment income.
- Net foreign direct investment declined to $5.1 billion, while net foreign portfolio investment recorded inflows of $15.7 billion.
- Net external commercial borrowings saw an inflow of $5.6 billion in Q1.
- The foreign exchange reserves increased by $24.4 billion in the first quarter of the current fiscal year.
What is current account deficit (CAD):
- The Current Account Deficit (CAD) is a measurement in the balance of payments of a country’s economy.
- It represents the difference between the value of a country’s exports of goods and services and its imports of goods and services during a specific period, usually a quarter or a year.
- In other words, CAD reflects the net flow of money into or out of a country due to its international trade and investment activities.
Mains question: Discuss the implications of a widening Current Account Deficit (CAD) on India’s economy. Analyze the factors contributing to the recent increase in CAD and suggest measures to address the challenges posed by a persistent CAD.
4. Russia to hike its defence spending by 70% in 2024.
Topic: GS2
Context:
- Russia is planning to increase its defense spending by nearly 70% in 2024, according to a Finance Ministry document.
What is in the news?
- This increase in defense spending is primarily driven by Russia’s full-scale offensive in Ukraine, which has led to heightened military activity and arms manufacturing.
- Despite facing challenges like high inflation and a weaker ruble, Russia is allocating significant resources to its military, with defense spending accounting for around 6% of its GDP.
- This level of defense spending surpasses allocations for social policies, education, environmental protection, and healthcare combined.
- The Russian government’s economic policy is shifting towards promoting national development goals, including strengthening defense capacity and integrating Ukrainian regions like Lugansk, Donetsk, Kherson, and Zaporizhzhia.
- Russia’s central bank has warned of potential economic slowdown and inflation above target levels, but officials, including President Vladimir Putin, appear focused on the Ukraine offensive.
For Enquiry
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