6th DECEMBER-DAILY CURRENT AFFAIRS + PIB- IASbhai

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IASbhai DAILY CURRENT AFFAIRS + PIB: 6th DECEMBER

 

“Going halfway never gets you anywhere. Go all the way or don’t go at all.” 

 

 

Pradhan Mantri Swasthya Suraksha Yojana (PMSSY)

      HEADLINES: 

Tertiary Care and Medical Education under PMSSY

      WHY IN NEWS: 

Ministry of Health and Family Welfare Press release !

SYLLABUS COVERED: GS 2:3:Schemes:Health care sector

 

      LEARNING: 

For PRELIMS you have to understand AIM ,FEATURES and beneficiaries of the project.

For MAINS you have to see how grass-root is performing and reacting to this scheme and the most important question ; Has it achieved the goal it had to ?

      ISSUE: 

Pradhan Mantri Swasthya Suraksha Yojana (PMSSY), a Central Sector Scheme, was announced in August 2003 to address imbalances in availability of tertiary care hospitals and improve medical education in the country.

AIM:
The Pradhan Mantri Swasthya Suraksha Yojana (PMSSY) aims at correcting the imbalances in the availability of affordable healthcare facilities in the different parts of the country in general, and augmenting facilities for quality medical education in the under-served States in particular. The scheme was approved in March 2006.

IT HAS TWO COMPONENTS:

  1. Setting up of new AIIMS: Out of total twenty-two new AIIMS announced so far, six AIIMS are functional and another fifteen AIIMS have been approved.
  2. Up-gradation of existing State/Central Government Medical College/Institutions (GMC):This involves construction of Super Speciality Block/Trauma Centre and procurement of Medical Equipment and as on date seventy-five projects in twenty-three states have been approved.

THE PRESENT STATUS:

  1. Six AIIMS at Bhopal, Bhubaneswar, Jodhpur, Patna, Raipur and Rishikesh are fully functional.
  2. In addition, OPD services in AIIMS Raebareli, AIIMS Mangalagiri and AIIMS Gorakhpur were commenced in 2018-19. Also, the OPD services have been started in AIIMS Nagpur in 2019-2020.
  3. Out of seventy-five GMC up-gradation projects approved, construction work in forty-three projects has already been completed.

      IASbhai WINDUP: 

Further, the academic session for MBBS course at AIIMS Mangalagiri and AIIMS Nagpur with 50 students was started in 2018-19.

Also, 1stsession of undergraduate MBBS course with 50 seats has also started in AIIMS Raebareli, Kalyani, Gorakhpur, Bathinda, Deoghar and Bibinagar from the session 2019-20.

      SOURCES:  PIB

 

 

RBI keeps interest rate unchanged

      HEADLINES: 

In a surprise, RBI keeps interest rate unchanged

      WHY IN NEWS: 

There is space for further policy action: Shaktikanta Das

SYLLABUS COVERED: GS 3:RBI:Monetary Policy Committee

 

      LEARNING: 

For PRELIMS you have to literally dig in a little . When Where What How and Who  regarding MPC should be very clear.

For MAINS not an important issue.

      ISSUE: 

The Reserve Bank of India (RBI) surprised the market by keeping the policy interest rate unchanged at 5.15% at the fifth bimonthly monetary policy review meeting, despite slowing economic growth, citing inflation concerns.

 

 

1. HOW DOES REPO RATE WORK?
  • When you borrow money from the bank, the transaction attracts interest on the principal amount.
  • This is referred to as the cost of credit. Similarly, banks also borrow money from RBI during a cash crunch on which they are required to pay interest to the Central Bank.
  • This interest rate is called the repo rate.

2. WHAT ARE THE COMPONENTS OF A REPO TRANSACTION?

Below are the parameters on the basis of which the RBI agrees to execute the transaction with the banks:

Preventing Economy “squeezes” – The Central bank increases or decreases the Repo rate depending on the inflation. Thus, it aims at controlling the economy by keeping inflation in the limit.

Hedging & Leveraging RBI aims to hedge and leverage by buying securities and bonds from the banks and provide cash to them in return for the collateral deposited.

Short-Term Borrowing – RBI lends money for a short period of time, maximum being an overnight post which the banks buy back their securities deposited at a predetermined price.

Collaterals & Securities – RBI accepts collateral in the form of gold, bonds etc.

Cash Reserve (or) Liquidity – Banks borrow money from RBI to maintain liquidity or cash reserve as a precautionary measure.

3. HOW DOES REPO RATE AFFECT THE ECONOMY?
  • Repo rate is a powerful arm of the Indian monetary policy that can regulate the country’s money supply, inflation levels, and liquidity.
  • Additionally, the levels of repo have a direct impact on the cost of borrowing for banks. Higher the repo rate, higher will be the cost of borrowing for banks and vice-versa.

A. RISE IN INFLATION

During high levels of inflation, RBI makes strong attempts to bring down the flow of money in the economy. One way to do this is by increasing the repo rate. This makes borrowing a costly affair for businesses and industries, which in turn slows down investment and money supply in the market. As a result, it negatively impacts the growth of the economy, which helps in controlling inflation.

B. INCREASING LIQUIDITY IN THE MARKET

On the other hand, when the RBI needs to pump funds into the system, it lowers the repo rate. Consequently, businesses and industries find it cheaper to borrow money for different investment purposes. It also increases the overall supply of money in the economy. This ultimately boosts the growth rate of the economy.

4. WHAT IS MEANT BY REVERSE REPO RATE?

Reverse Repo Rate is a mechanism to absorb the liquidity in the market, thus restricting the borrowing power of investors.

Reverse Repo Rate is when the RBI borrows money from banks when there is excess liquidity in the market. The banks benefit out of it by receiving interest for their holdings with the central bank.

 

WHAT WAS EXPECTED ?
The market was expecting the central bank to cut interest rates for the sixth straight time. All six members of the monetary policy committee voted for keeping the rate unchanged. The accommodative stance of the monetary policy was retained.
This forward guidance in itself indicates that there is space for further monetary policy action. However, there is a need to optimise the impact of rate reductions. The key consideration has to be the timing of further actions, even as we monitor the impact of actions taken so far.

      IASbhai WINDUP: 

RBI paused to wait for further clarity on the inflation front and the steps that the government might take in the Budget to prop up growth.

https://cleartax.in/s/repo-rate

      SOURCES:  THE HINDU / THE LIVEMINT

 

 

Pawan, the fifth cyclone brewing in Arabian Sea

      HEADLINES: 

Pawan, the fifth cyclone brewing in Arabian Sea

      WHY IN NEWS: 

The Arabian Sea has recorded five cyclones this year equalling a 117-year-old record, data from the India Meteorological Department (IMD) shows.

SYLLABUS COVERED: GS 1:Cyclones

 

      LEARNING: 

For PRELIMS EVERYTHING ABOUT THIS IMPORTANT !

For MAINS just note down MJO . Check our previous Current Affairs for details.

      ISSUE: 

In a tumultuous cyclone season, one more cyclonic storm churned up the waters of the Arabian Sea on Thursday, taking the total number of cyclones this year to five.

Pawan, the fifth cyclone brewing in Arabian Sea this year, veers away from India

 

  • So far, four cyclones have formed over the Arabian Sea. Vayu in June and Hikka in September were recognized as “very severe” cyclonic storms.
  • The formation of cyclones Kyarr and Maha simultaneously in end-October was considered to be an unusual occurrence observed last in 1965.
  • The last such occurrence (five cyclones) was observed in 1902.

 

While the Arabian Sea has witnessed five cyclones against the usual occurrence of one every year, Bay of Bengal on the wastern side remains relatively quite with only three cyclones—Pabuk, Fani and Bulbul—compared to the normal occurrence of four cyclones per year.

Taken together, the Arabian Sea and Bay of Bengal, which form a part of the North Indian Ocean, have witnessed eight cyclones this year.

PAWAN ?

  • According to weather scientists, warming of oceans is fuelling stronger cyclones in the North Indian Ocean, with increasing potential energy available to these cyclonic disturbances.
  • The systems also seem to have intensified rapidly, most probably due to higher sea-surface temperatures, which lead to an increase in cyclonic wind speeds.
  • Tropical Cyclone Pawan (locally, Cyclonic Storm Pawan) was a weak system that made landfall in Somali . It will bring increased moisture and possibly heavy rain and flooding to Somalia and other parts of eastern Africa into this weekend.

      IASbhai WINDUP: 

Each cyclone’s spin depends on where it is in relation to the equator. Tropical cyclones spin counterclockwise north of the equator, while their Southern Hemisphere counterparts rotate clockwise.

      SOURCES:  THE LIVEMINT

 

 

New norms to make social media more accountable

      HEADLINES: 

New norms to make social media more accountable

      WHY IN NEWS: 

Centre says companies must identify and remove harmful content, without affecting privacy of users

SYLLABUS COVERED: GS 3:Social Media

 

      LEARNING: 

For PRELIMS just know these snippets ! This issue is highly volatile.

For MAINS recommend some tools which can upgrade IT Act 2000 and keep them in your notes 😉

      ISSUE: 

The government on Thursday said that it was working on rules to mandate social media companies to identify and remove child sexual abuse material, rape images and content promoting terrorism without affecting privacy.

 

 

KEYFACTS:

  • “The amendments inter alia propose that intermediaries should proactively identify and remove child sexual abuse material, rape/gang-rape imagery and contents promoting terrorism without compromising accuracy or privacy using technology-based tools and mechanism.
  • He said the Information Technology (IT) Act, 2000, has adequate provisions for removal of objectionable online content.
  • Social media platforms are intermediaries as defined in the Act,”

SECTION 69A OF THE IT ACT, 2000:

This empowers the government to block any information generated, transmitted, received, stored or hosted in any computer resource in the interest of sovereignty and integrity of India, defence of India, security of the state, friendly relations with foreign states or public order or for preventing incitement to the commission of any cognisable offence relating to above.

      IASbhai WINDUP: 

More such detail discussion will be done in editorials.

      SOURCES:  THE HINDU 

 

 

PRELIMS SNIPPETS

 

Firepower

      HEADLINES: 

Firepower of INDIA ! T-90 tanks.

      WHY IN NEWS: 

Pictures are important and sometimes advertisements too !

SYLLABUS COVERED: GS 3:Defence:DRDO:LCA

 

      LEARNING: 

For PRELIMS  tanks and the features are important  .

      ISSUE: 

 

 

 

      SOURCES:  THE HINDU 

 

 


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