August 23rd 2024 Current Affairs

Index:

1. Shift in Inflation Goal and Economic Prospects

  1. Key Figures:
  • Michael Debabrata Patra: RBI Deputy Governor who highlighted the widening wedge between headline and food inflation.
  • Shaktikanta Das: RBI Governor who discussed the premature nature of considering the natural interest rate equilibrium.
  1. Main Points:
  • Monetary Policy Committee (MPC) Decision:
    • The MPC has opted to hold policy rates steady.
    • The decision is guided by the goal of aligning inflation durably with the 4% target.
  • Inflation Trends:
    • Headline Inflation: Overall inflation including all categories.
    • Food Inflation: Inflation specifically in food categories, which has been high and persistent.
    • Widening Wedge: The gap between headline and food inflation is growing, making it difficult to align headline inflation with the 4% target.
  • Food Inflation Persistence:
    • Categories Affected: Cereal, pulses, spices, and vegetables.
    • Empirical Evidence: Food inflation is taking longer to revert to its trend after a shock, showing increased persistence.
  • RBI’s Stance on Interest Rates:
    • Natural Interest Rate Equilibrium: The concept is deemed premature for policy decisions while disinflation is ongoing.
    • Risks of Policy Easing: Easing based on high real rates may be misleading and not suitable for current economic conditions.
  1. Policy Implications:
  • Focus on Inflation Target: The RBI emphasizes focusing on achieving the 4% inflation target rather than relying on theoretical interest rate models.

Real-World Considerations: Policy decisions should reflect real economic conditions and avoid relying solely on abstract models.

2. NDMA and Glacial Lake Risk Mitigation

CONTEXT: NDMA to monitor 189 high-risk glacial lakes to prevent disasters Lake-lowering measures among proposed steps; National Glacial Lake Outburst Floods Risk Mitigation Programme was approved on July 25

Glacial Lakes Monitoring:

  • High-Risk Lakes Identified: 189 glacial lakes
  • Total Glacial Lakes in India: Approximately 7,500
  • Monitoring Methods: Remote sensing and site visits

Recent Incident:

  • South Lhonak Lake Overflow: October 2023
  • Impact: Flooding in Sikkim, destruction of Chungthang dam, 40 fatalities

Proposed Measures:

  • Lake-Lowering Measures: To reduce overflow risk
  • Technical Hazard Assessments: Detailed evaluations of high-risk lakes
  • Automated Monitoring Stations: Installation of weather and water level monitoring systems
  • Early Warning Systems: For both lakes and downstream areas

Field Activities:

  • Expeditions Conducted: 15 expeditions
    • Sikkim: 6 expeditions
    • Ladakh: 6 expeditions
    • Himachal Pradesh: 1 expedition
    • Jammu and Kashmir: 2 expeditions
  • Recent Teams Sent: Arunachal Pradesh State Disaster Management Authority sent teams to Tawang and Dibang Valley

Monitoring Details:

  • Satellite Monitoring: 902 glacial lakes and waterbodies monitored
  • Site Visits: Necessary for full impact assessment, challenging due to terrain

Challenges:

  • Inhospitable Terrain: Difficulty in site visits due to harsh conditions

Limited Access Period: July to September is the window for expeditions

3. New Crop Data Mechanism

CONTEXT: Centre, States discuss new mechanism for gathering crop data

  1. Initiative Overview:
  • Name: Digital General Crop Estimation Survey (DGCES)
  • Objective: Enhance accuracy, reliability, and transparency of agricultural statistics.

 

  1. Key Features:
  • Technology Integration: Use of remote sensing, geospatial analysis, and artificial intelligence.
  • Data Type: Plot-level data with geo-tagged areas of crops.
  • Purpose: Accurate crop-area estimation and yield calculation based on scientific crop cutting experiments.

 

  1. Recent Developments:
  • National Conference: Held to discuss improvements in crop production statistics.
  • Focus Areas: Enhancement of agricultural production estimates and technological integration.

 

  1. Government Statements:
  • Union Agriculture Secretary: Devesh Chaturvedi emphasized continuous collaboration between Union and State governments to improve agricultural statistics.
  • Budget Announcement: The initiative for a digital crop survey was announced to aid in accurate crop-area estimation and act as a single source of truth.

 

  1. Revamped FASAL:
  • Purpose: Forecasting Agricultural Output using Space, Agro-meteorology, and Land-based observations.
  • Integration: DGCES aims to improve FASAL’s capabilities with advanced technologies.

 

  1. Expected Outcomes:
  • Data Accuracy: Near real-time and reliable data directly from the field.

Policy Impact: Enhanced data will support better policy formulation, trade decisions, and agricultural planning.

4. Ongoing Indian Space Missions

  1. Recent Key Missions:
  • Aditya-L1 Mission
    • Launch Date: September 2, 2023
    • Objective: Study solar radiation from the Earth-Sun Lagrange point (L1).
    • Milestones: Entered L1 orbit on January 6, 2024; first orbit completed on July 2, 2024.
    • Observations: Studied a solar storm in May 2024.

 

  • Gaganyaan TV-DI Mission
    • Test Date: October 21, 2023
    • Objective: Demonstrate Crew Escape System (CES) for the Gaganyaan human spaceflight mission.
    • Outcome: Successful separation and safety measures; crew module recovered by INS Shakti.

 

  • XPOSat
    • Launch Date: January 1, 2024
    • Objective: Study X-ray polarization from celestial objects.
    • Instruments: XSPECT and POLIX began operations in January 2024.

 

  • INSAT-3DS
    • Launch Date: February 17, 2024
    • Objective: Meteorological observations; validated GSLV for future missions.

 

  • RLV-TD (Reusable Launch Vehicle-Technology Demonstrator)
    • Tests: LEX-C2 and LEX-03 on March 22 and June 7, 2024.
    • Objective: Simulate landing conditions and enhance landing technology.

 

  • SSLV (Small Satellite Launch Vehicle)
    • Launch Date: August 16, 2024
    • Objective: Place EOS-08 and SR-O Demosat satellites in orbit; development complete.

 

  1. Upcoming and Planned Initiatives:
  • Gaganyaan Mission
    • Uncrewed Flight: Expected late 2024.
    • Crewed Flight: Scheduled for 2025; includes advanced astronaut training and multiple abort tests.
    • Long-Term Goals: Indian space station (Bharatiya Antariksh Station) by 2035.

 

  • Next Generation Launch Vehicle (NGLV)
    • Objective: Deliver heavier payloads; three-stage vehicle with semi-cryogenic and cryogenic engines.
    • Current Status: Project report submitted; PSLV and GSLV to be phased out.

 

  1. NSIL and Private Sector Developments:
  • NewSpace India Ltd (NSIL):
    • Responsibilities: Manage commercial missions and satellite data.
    • Partnerships: Agreement with SpaceX for GSAT-20 GSAT-N2; production of LVM-3.

 

  • Private Companies:
    • Agnikul Cosmos: Launched SORTED OI vehicle with semi-cryogenic engine.
    • Skyroot Aerospace: Progressing with Vikram 1 rocket and recent test vehicle launch.
    • Dhruva Space and Bellatrix Aerospace: Conducted experiments on PSLV-C58 mission.

 

  1. Policy and Regulation Updates:
  • IN-SPACE Guidelines:
    • Release Date: May 3, 2023
    • First Licenses: Eutelsat OneWeb for satellite broadband; Dhruva Space for ground station.

FDI Policy: Amended for 100% FDI in most space segments; specific ceilings for satellite manufacturing and launch infrastructure.

5. Chandrayaan 3: Key Findings and Implications

 

1. Overview of Findings

·         Date of Release: August 22, 2024

·         Publication: Nature

·         Instrument Used: Alpha Particle X-ray Spectrometer (APXS)

·         Location: Moon’s southern latitudes

 

2. Key Discoveries:

 

·         Uniform Terrain: The lunar surface around the landing site is relatively uniform.

·         Stratified Crust Formation: Supports the Lunar Magma Ocean (LMO) hypothesis, suggesting that the Moon’s crust formed layer by layer from a primordial magma ocean.

·         Mineral Composition: The topsoil has an unexpectedly high concentration of minerals typical of the Moon’s lower crust.

 

3. Lunar Magma Ocean Hypothesis:

 

·         Formation: The Moon was formed from a magma ocean shortly after a large asteroid collided with Earth around 4.5 billion years ago.

·         Crust Formation:

o    Heavier Minerals: Olivine and pyroxene sank to form the lower crust.

o    Lighter Minerals: Calcium- and sodium-rich minerals floated to form the upper crust.

·         APXS Findings: Support stratified crust formation models, indicating that about 80-90% of the upper crust is iron, magnesium, and sodium-rich rocks.

 

4. Evidence of Crust Mixing:

 

·         Impact Hypothesis: The asteroid impact that created the South Pole-Aitken (SPA) Basin may have mixed different crustal layers.

·         SPA Basin:

o    Dimensions: Approx. 2,500 km in diameter and 6.2-8.2 km deep.

o    Formation: Estimated 4.2-4.3 billion years ago.

o    Effect: Likely excavated magnesium-rich material from deeper layers.

 

5. Significance of Findings:

 

  • First In-Situ Measurements at the Moon’s Poles: Chandrayaan 3 is the first mission to conduct such detailed measurements near the lunar south pole.
  • Surface Uniformity: Provides a calibration point for future remote sensing and exploration missions.

Historical Context: Offers ground truth data for lunar highlands, which could be crucial for understanding the Moon’s formation and evolution

6. Impact on Future Missions:

 

  • Calibration and Planning: The uniform surface at the landing site can be used for calibrating remote sensing instruments.
  • Source-Crater Pairing: Future missions can assess the origins of lunar meteorites and their source craters.
  • Scientific Insight: APXS measurements could be pivotal in studying the Moon’s geological history and development.

 

6. MUDA Scam Infographic

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