Welcome to TARUN IAS – Your Daily News Analysis for UPSC/IAS Exam Preparation!
Stay informed with relevant current affairs from trusted sources like The Hindu, Indian Express, PIB, and more. Our daily news analysis includes Prelims Facts and Important Editorials presented in a concise and bulletised format. Get free daily updates up to 4 P.M. (except Sundays). Don’t miss the Daily Revision Quiz to reinforce your knowledge. Good luck!
Here are the topics covered for 13 January 2024:
GS-2: Election Commission
GS-3: Einstein Probe,Carbon Border Adjustment Mechanism, Retail Inflation
Facts For Prelims: Clasepi, Bharat Tex 2024
- The Supreme Court declined a request for an interim stay of the new law excluding the Chief Justice of India from the panel to select the chief election commissioner (CEC) and election commissioners (ECs).
The Chief Election Commissioner and Other Election Commissioners Act, 2023
- The new law replaces the Election Commission (Conditions of Service of Election Commissioners and Transaction of Business) Act, 1991.
- The CEC and EC will be appointed by the President upon the recommendation of a Selection Committee.
- Prime Minister
- Union Cabinet Minister
- Leader of Opposition in Lok Sabha
- The Selection Committee is headed by the Cabinet Secretary.
- Removal process stays: CEC\’s removal follows Supreme Court Judge rules; EC removal needs CEC\’s recommendation.
- Legal shield for election chiefs: CEC and ECs protected from legal action for actions within official duties.
- Protection scope: Covers civil and criminal proceedings related to official functions.
- Petitioners\’ Challenge to New Election Commission Law:
- Violates 2023 Supreme Court judgment: The new law undermines the Court\’s ruling by excluding the CJI from selecting election chiefs, effectively diluting its impact.
- Breaches the Constitution\’s basic structure: Separation of powers is a fundamental principle, and the legislature cannot override judicial verdicts through mere legislation.
- Impacts democracy\’s strength: A fair and transparent appointment process for the Election Commission is crucial for good governance and a strong democracy.
- China launched Einstein Probe, a lotus-shaped satellite, to study transient cosmic phenomena using innovative lobster eye-inspired X-ray technology.
About Einstein Probe
- Design: Inspired by a lotus, 12 petal-shaped telescopes offer a 3600-degree cosmic view, while 2 central \”stamens\” provide high-precision follow-up. Think of it as a blooming flower revealing the universe\’s secrets.
- Witness First Light: Capture the fleeting burst from a supernova\’s birth.
- Hunt X-ray Echoes: Pinpoint cosmic crashes using X-rays triggered by gravitational waves.
- Awaken Dormant Giants: Discover hidden black holes and other faint celestial events.
- Revolutionize our understanding: Rewrite textbooks on stellar evolution, black holes, and the universe\’s violence.
- Global collaboration: China, Europe, and Germany join forces to unlock cosmic mysteries.
Carbon Border Adjustment Mechanism (CBAM)
- The CBAM introduced by the EU, it\’s a levy on carbon emissions embedded in imported goods like steel, cement, and aluminum.
- India has raised concerns about the sensitive and confidential trade data of its exporters
- Addressing carbon leakage: CBAM directly targets emissions embedded in imported goods, incentivizing cleaner production abroad and preventing domestic industries from relocating to countries with less stringent environmental regulations.
- Level Playing Field: By applying a carbon price on imports, CBAM ensures European producers facing carbon costs don\’t suffer competitive disadvantages against those from outside the bloc.
- Driving global decarbonization: The mechanism encourages cleaner production technologies and practices globally, potentially pushing other countries to adopt similar measures.
- EU\’s Stance: The EU claims the data, including nearly 1,000 points on production methods and energy consumption, is solely to assess embodied carbon emissions in imported goods. This information helps determine the CBAM levy.
- India\’s Concerns: Exporters fear revealing such detailed information could compromise their competitive edge. Trade secrets, proprietary technologies, and production efficiencies could be exposed, potentially harming their market position.
- India’s retail inflation accelerated to a four-month high of 5.7% in December 2023.
What is CPI-based Inflation or Retail Inflation?
- It often refers to the rate of inflation based on the consumer price index (CPI).
- The CPI tracks the change in retail prices of goods and services that households purchase for their daily consumption.
- To measure inflation, we estimate how much CPI has increased in terms of percentage change over the same period the previous year.
- If prices have fallen, it is known as deflation (negative inflation).
- The Central Bank (RBI) pays very close attention to this figure in its role of maintaining price stability in the economy.
- The CPI monitors retail prices at a certain level for a particular commodity; and price movement of goods and services at rural, urban, and all-India levels.
- The change in the price index over some time is referred to as CPI-based inflation or retail inflation.
- Generally, CPI is used as a macroeconomic indicator of inflation, as a tool by the central bank and government for inflation targeting and for inspecting price stability, and as a deflator in the national accounts.
- CPI also helps understand the real value of salaries, wages, and pensions, the purchasing power of the nation’s currency, and regulating rates.
- CPI, one of the most important statistics to ascertain economic health, is generally based on the weighted average of the prices of commodities.
- It gives an idea of the cost of the standard of living.
- CPI formula: (Price of the basket in current period / Price of the basket in base period) x 100
Facts For Prelims
- A cannabis-based medicine by Akumentis Healthcare Ltd to treat seizures in toddlers.
- It has been approved by the Drug Controller General of India.
- It targets Lennox-Gastaut Syndrome, Dravet Syndrome, or Tuberous Sclerosis Complex.
- It contains tetrahydrocannabinol with content below 0.1%.
Bharat Tex 2024
- A textile-based mega-event organized by the 11 Textile Export Promotion Councils in collaboration with the Ministry of Textiles.
- It showcases India’s entire textile value chain and emphasizes fashion, traditional crafts, and sustainability.
- The event is organized with India’s 5F vision
- Farm to
- Fiber to
- Factory to
- Fashion to