11 March 2025 : Daily Current Affairs

1. Five years on, the economic impact of COVID-19 pandemic still lingers

(Source – The Hindu, International Edition – Page No. – 13)

Impact on Debt and Inflation

• Governments borrowed money to support welfare and livelihoods, increasing global debt by 12 percentage points since 2020.
• Emerging markets saw even steeper increases in debt levels.
• Inflation surged, peaking in many countries in 2022, driven by post-lockdown spending, government stimulus, and supply shortages.
• Central banks raised interest rates to control inflation, but responses varied by country.
• Sovereign credit ratings declined due to economic shutdowns and rising debt, with global credit scores still lower than pre-pandemic levels.
• Emerging market nations suffered even greater declines in their credit ratings.

Labour Market and Travel Changes

• The pandemic caused millions of job losses, especially affecting women and low-income workers.
• Employment recovered but shifted towards the hospitality and logistics sectors due to growing retail delivery demand.
• Women’s workforce participation dropped in 2020, as they were overrepresented in hard-hit sectors and took on more childcare responsibilities.
• Travel and leisure habits changed, with work-from-home reducing city commutes despite a return to pre-pandemic travel levels.
• The airline industry suffered $175 billion in losses in 2020 but rebounded, with 5.2 billion passengers expected in 2025.
• Hotel prices remain above 2019 levels, especially in Oceania, North America, Latin America, and Europe.
• Office vacancy rates have increased due to more remote work and flexible job arrangements.

Rise of the Digital Economy

• Online shopping surged during lockdowns and has remained stable post-pandemic.
• Retailers expanded both online and offline shopping spaces, with physical selling space in Europe increasing by nearly 1% from 2022 to 2023.
• Digital and delivery firms saw major growth during the pandemic, though some lost appeal over time.
• Retail investors contributed to 27% of stock trading in December 2020, with online trading platforms becoming popular.

2. End of cheap palm oil? Output stalls with rise of biodiesel

(Source – The Hindu, International Edition – Page No. – 13)

Impact of Indonesia’s Biodiesel Push

• Indonesia raised the mandatory palm oil blend in biodiesel to 40% in 2024 and plans to increase it to 50% by 2026.
• By 2030, Indonesia’s palm oil exports could fall to 20 million metric tons, a sharp drop from 29.5 million in 2024.
• Reduced exports and floods in Malaysia have driven palm oil prices higher than soybean oil, making buyers reduce purchases.

Rising Costs for Consumers

• In India, the largest vegetable oil importer, crude palm oil prices have been higher than soybean oil for six months, sometimes by over $100 per ton.
• Palm oil, which was $500 per ton in 2019, now costs $1,185 per ton.
• High vegetable oil prices increase inflation risks in many countries.

Slowing Palm Oil Production

• Indonesia and Malaysia, the top producers, have slowed expansion due to deforestation concerns, lack of land, and ageing plantations.
• Global palm oil production growth has dropped to 1% annually over the past four years.
• Labour shortages, low replanting rates, and tree diseases are further reducing yields.

3. ‘Integration of AI in judiciary must be done cautiously’

(Source – The Hindu, International Edition – Page No. – 5)

Analysis of the news:

• He emphasized that AI lacks human emotions, moral reasoning, and ethical considerations, which are crucial for justice.
• Speaking at a conference in Nairobi, he stressed that AI should be used only as an aid and not replace human judgment.
• Justice Gavai highlighted that justice requires empathy and contextual understanding, which AI algorithms cannot replicate.
• He warned of risks in using AI for legal research, citing cases where platforms like ChatGPT generated fake case citations.
• The judges urged a cautious approach to integrating AI into the judiciary to avoid potential errors and ethical concerns.

4. PM Modi’s Mauritius Visit: Strengthening Historical, Strategic, and Economic Ties

(Source – Indian Express, Section – Explained, Page – 15)

Analysis of the news:

Historical Ties

• Mauritius has deep historical connections with India, dating back to the 18th century when Indians were first brought as laborers under French rule.
• During British rule, over 500,000 Indian indentured workers arrived between 1834 and the early 1900s, with two-thirds settling permanently.
• The country was among the first to establish diplomatic relations with independent India in 1948.
• Its political landscape has been shaped by the Ramgoolam and Jugnauth families, both of whom have historical ties with Indian leaders.

Strategic Cooperation and Infrastructure Development

• India has played a crucial role in Mauritius’ infrastructure development, including the Agaléga island project, which enhances sea and air connectivity.
• Recently, India and Mauritius jointly inaugurated an airstrip and jetty there, aiding maritime security and economic activities.
• Despite concerns about military intentions, the Mauritian leadership has refuted any claims of sovereignty compromise.

Security and Maritime Cooperation

• Given China’s growing influence in the Indian Ocean, India is strengthening security ties with Mauritius.
• Both countries are set to sign a technical agreement on white-shipping information sharing, improving maritime security, trade corridor safety, and regional cooperation.
• Additionally, India has been a key partner in disaster relief, assisting Mauritius in crises like the 2020 Wakashio oil spill and Cyclone Chido.

Economic and Trade Relations

• India is one of Mauritius’ largest trading partners and the second-largest source of FDI into India.
• In 2021, both nations signed the Comprehensive Economic Cooperation and Partnership Agreement (CECPA), India’s first trade deal with an African country.
• Over the last decade, India has provided nearly $1.1 billion in development assistance, supporting projects like the Metro Express and community initiatives.

Space and Capacity Building

• India has collaborated with Mauritius in space research since 1986, and a recent MoU aims to develop a joint satellite.
• Mauritius also benefits from India’s ITEC program, with nearly 5,000 Mauritians trained in civilian and defense sectors.
• Meanwhile, Mauritius hosts around 2,300 Indian students in higher education institutions.

Cultural and Ancestral Connections

• PM Modi’s visit highlights the shared cultural heritage, including Seewoosagur Ramgoolam’s ancestry from Bihar, the observance of Maha Shivratri, and the significance of the Ganga Talao pilgrimage site.
• These connections continue to strengthen India-Mauritius ties, reflecting deep-rooted historical, strategic, and economic partnerships.

Conclusion

• PM Modi’s visit to Mauritius reinforces the deep-rooted historical, strategic, and economic ties between the two nations.
• By expanding cooperation in security, trade, infrastructure, and cultural exchange, India aims to strengthen its role as a key partner in Mauritius’ development while countering regional geopolitical challenges.

5. HOUSEHOLD CONSUMPTION EXPENDITURE SURVEY 2023-24

(Source – https://pib.gov.in/PressReleasePage.aspx?PRID=2109812 )

Introduction

• The latest survey (HCES: 2023-24) was conducted from August 2023 to July 2024, with findings published in January 2025.

Data Collection and Accuracy Measures

• The survey uses Computer Assisted Personal Interview (CAPI) and web-based applications for data collection.
• Built-in validation mechanisms help ensure accuracy by flagging implausible or inconsistent responses.
• Multi-level data scrutiny and validation checks minimize errors and improve efficiency.

Categories of Data Collected

• Information was collected on 405 items of food and non-food consumption.

Survey Coverage and Sampling Methodology

• Conducted across all States/UTs, except inaccessible villages of Andaman & Nicobar Islands.
• Villages are first-stage units in rural areas, while urban blocks are used for urban areas.
• Households are selected randomly using statistical methodology (SRSWOR).

Household Stratification

• In rural areas, households are categorized based on land possession.
• In urban areas, households are classified based on ownership of four-wheelers:
  • High-income group: Households with cars worth more than ₹10 lakh.
  • Middle-income group: Households with cars worth ₹10 lakh or less.
  • General category: Remaining households.

Conclusion

• This survey ensures comprehensive data collection to understand spending patterns across different sections of society.

6. Lok Sabha Passes Bills of Lading Bill, 2025, Modernizing 169-Year-Old Colonial Shipping Law

(Source – https://pib.gov.in/PressReleasePage.aspx?PRID=2110053 )

Comparison of Bills of Lading Act, 1856 vs. Bills of Lading Act, 2025

Prelims Facts

1. Honouring traditions

(Source – The Hindu, International Edition – Page No. – 1)

Jadayaswamy Festival:

• The Jadayaswamy festival is celebrated by the Badaga community in the Nilgiris district of Tamil Nadu, particularly in Jackanarai village near Kotagiri.
• It is observed once every year, with participation from eight villages in the region.

• Religious Significance: The festival is dedicated to Jadayaswamy, a deity revered by the Badagas. It symbolizes faith, devotion, and ancestral traditions.
• Main Rituals: A grand procession is organized, where devotees walk together to the Jadayaswamy temple to offer prayers.
• Firewalking Ceremony: A highlight of the festival is the firewalking ritual, where devotees walk barefoot over burning embers as an act of devotion and penance.
• Cultural Importance: The festival strengthens community bonds, preserves ancient customs, and showcases the unique heritage of the Badaga people.

2. Carney to be next Canadian PM; says will retain tariffs till U.S. shows ‘respect’

(Source – The Hindu, International Edition – Page No. – 1)

Analysis of the news:

• Mark Carney has won the leadership election with a landslide victory of 85.9% of the votes.
• Key challenges he faces include U.S. President Donald Trump’s trade war and annexation threats.
• Carney has promised to maintain retaliatory tariffs until the U.S. adopts fair trade practices.
• He emphasized Canada’s readiness to defend its sovereignty against external pressures.
• Carney has extensive experience as the former Bank of Canada Governor and Bank of England chief.
• His leadership comes as Canadian nationalism is rising, fueled by tensions with the U.S.
• A federal election is expected soon, where U.S.-Canada relations will be a major issue.

3. Centre has taken measures to improve the safety apparatus of rail network: Vaishnaw

(Source – The Hindu, International Edition – Page No. – 5)

Measures Highlighted by the Railway Minister:

• ₹1,14,000 crore allocated for rail safety improvements.
• 3,213 railway stations now operate under digital control to enhance monitoring.
• 9,000 unmanned level crossings have been eliminated through staffing or construction of underpasses and flyovers.
• 24,000 km of new railway tracks laid to improve rail infrastructure.
• 45,000 km of rail lines electrified to reduce dependency on diesel locomotives.
• Old diesel locomotives retained only for breakdowns, ensuring efficient operations.
• CCTVs installed and functional at stations to monitor security.
• Transparent recruitment of 5.02 lakh railway staff to improve workforce efficiency.

4. Genetically-Engineered Bananas: A Solution to Food Waste and Browning

(Source – Indian Express, Section – Explained, Page – 15)

Analysis of the news:

Why Do Bananas Turn Brown?

• Bananas ripen due to ethylene, a natural plant hormone.
• Unlike other fruits, they continue producing ethylene even after being harvested, triggering the enzyme polyphenol oxidase (PPO), which reacts with oxygen to cause browning.
• Bruising accelerates ethylene production, further speeding up the process.

How Was a Non-Browning Banana Created?

• Scientists disabled the gene responsible for PPO production, preventing browning while allowing natural ripening.
• A similar genetic modification was used in Arctic apples, approved for commercial sale in the U.S. since 2017.
• The technique has also been applied to tomatoes, melons, kiwifruits, and mushrooms.

Why Is This Important?

• Bananas are highly perishable, with nearly 50% of the global crop wasted annually. In the UK alone, around 1.4 million edible bananas are discarded daily.
• Reducing banana waste can help lower greenhouse gas emissions, as food waste significantly contributes to global warming.
• Tropic estimates that their non-browning bananas could cut CO₂ emissions equivalent to removing 2 million cars from the road annually.

5. Ancient Tool Use: New Evidence Challenges Human Exceptionalism

(Source – Indian Express, Section – Explained- Page No. – 15)

Analysis of the news:                                                                      

Historical Perspective on Tool Use

• For much of the 20th century, tool-making was considered a defining characteristic of the genus Homo.
• British paleoanthropologist Kenneth Oakley (1949) emphasized the ability to shape tools as a uniquely human trait, while Louis Leakey’s discovery of Homo habilis (the “handy man”) in 1964 reinforced the belief that tool-making set humans apart from other species.

Evidence from Non-Human Primates

• Observations of chimpanzees by Jane Goodall in the 1960s challenged these assumptions.
• She documented chimps using sticks to fish for termites and modifying objects to serve specific purposes.
• Further studies revealed that capuchin monkeys unintentionally produce stone flakes similar to those crafted by early humans, and even create rudimentary wooden spears.

Reevaluating Human Superiority

• Findings from Australopithecus afarensis (Lucy, 3.2 million years old) suggest that even early human ancestors had hand morphologies suited for tool use.
• Archaeological discoveries in Ethiopia (2010) provided concrete evidence of stone tools used for cutting meat over 3.39 million years ago, while 3.3-million-year-old stone tools found in Kenya (2015) reinforced the idea that tool-making predates the genus Homo.

The End of Human Exceptionalism?

• The notion that tool-making is exclusive to humans is increasingly being challenged.
• Studies indicate that even the last common ancestor of great apes (13 million years ago) likely possessed dexterity and used tools.
• This growing body of evidence underscores that humans are not as distinct from other species as once believed, reshaping our understanding of evolution and intelligence.

6. Chandrayaan-3 Findings Suggest Water-Ice May Exist Beyond Lunar Poles

(Source – Indian Express, Section – Cover Page- Page No. – 01)

Analysis of the news:       

Temperature Variability and Lunar Composition

• ChaSTE provided the first on-site temperature measurements near the Moon’s polar regions, revealing extreme differences—nearly 60°C—between the surface and the sub-surface (just 10 cm below).
• These findings highlight the Moon’s poor heat conductivity, which has implications for its geological evolution and potential human habitation.

Chandrayaan-3’s Key Observations

• The Vikram lander, which landed at about 70° South latitude, recorded significant temperature variations over short distances.
• A sun-facing slope showed a surface temperature of 82°C, while a nearby flatter area measured 59°C.
• Such variations suggest that even non-polar regions might create micro-environments suitable for water-ice accumulation.

Potential for Water-Ice Accumulation

• The study proposes that locations with slopes greater than 14° in high-latitude areas (60-80° North or South) might have conditions similar to permanently shadowed polar craters, making them potential sites for water-ice deposits.

Implications for Future Exploration

• These findings suggest that high-latitude regions could be strategic locations for resource scouting and future lunar habitation.
• Unlike polar regions, these areas pose fewer technical challenges for exploration while still offering scientifically valuable insights.

7. India’s Wheat Production to Hit Record 115.3 Million Tonnes

(Source – Indian Express, Section – Express Network- Page No. – 13)

Analysis of the news:      

Government Procurement and Stock Status

• The government aims to procure 31 million tonnes of wheat in the upcoming rabi marketing season (2025-26), starting in April.
• In the current year, procurement stood at 26.6 million tonnes, slightly below the 30-32 million tonne target.
• As of March, wheat stock in the central pool stood at 14.41 million tonnes—almost double the April 1 buffer norm of 7.46 million tonnes.

Inflation and MSP Hike

• Retail inflation for wheat, based on the Consumer Price Index (CPI), rose to 8.8% in January 2025.
• In response, the government increased the Minimum Support Price (MSP) for wheat by ₹150 per quintal (6.59%), from ₹2,275 in RMS 2024-25 to ₹2,425 per quintal for RMS 2025-26.

Key Wheat-Producing States

• Wheat remains the second largest crop (after paddy) in terms of area coverage, with 318.33 lakh hectares under cultivation in 2023-24.
• The top wheat-producing states are Uttar Pradesh, Madhya Pradesh, Punjab, Haryana, Rajasthan, Bihar, Gujarat, and Maharashtra.

Rabi Crop Estimates

• Rapeseed & Mustard: Production is expected to decline slightly to 12.9 million tonnes, down from 13.26 million tonnes last year.
• Gram (Chana): Estimated production at 11.53 million tonnes.
• Lentils (Masur): Expected to increase to 1.82 million tonnes.

The rising wheat production ensures food security, but price inflation and procurement challenges remain key concerns for policymakers.

check more – 10 March 2025 : Daily Current Affairs