03.12.22 Daily [Telangana] TSPSC Current Affairs

Rising has forced a relook into Micro Economics of states, particularly Telangana that clocked the highest rural inflation. Radhika Pandey, consultant economist with National Institute of PUBLIC FINANCE and Policy (Delhi), says though the current economic scenario is not alarming, inflation rates in states differ due to varied reasons.

For stability, a bandwidth of a 2-6% inflation rate is good. This, however, varies with time for many reasons. Indias inflation rate is influenced by fuel prices. Inflation is understood as a consistent spurt in prices and the poor cannot afford a price rise, so its critical to keep inflation levels within the desired ban dwidth. Going by GST collections and GDP figures, India is relatively safe. Also, we are not an export-driven economy and inflation rates were brought down between February and March.

As per data, Telanganas vegetable inflation in rural areas between April and October is very high, hovering around 20%. In the same p eriod, the corresponding figure (rural vegetable inflation) for the country was just 6%. Agriculturists say price benefits not being passed on to consumers or cultivation not meeting demand.

The Ministry of Social and Empowerment is implementing a Scheme for Economic Empowerment of DNTs (SEED) for Development and Welfare of DNTs. In order to ensure that the benefit of the scheme reaches to the real targeted beneficiaries, the Ministry has also developed and opened the portal for SEED in September, 2022 calling for applications.

About 4700 applications available on the portal have been extracted from the portal and forwarded to State Governments for verification.

The Indian Space Research Organisation (ISRO) has signed a Memorandum of Understanding (MoU) with Social Alpha to establish a SpaceTech Innovation Network (SpIN).

Social Alpha is a multistage innovation curation and venture development platform supporting activities concerning Science and Technology. It supports innovators and entrepreneurs who are involved in the creation of social, economic and environmental impact to address Indias developmental challenges. It operates through a nationwide network of technology and business incubation , with the sponsorship from Tata Trusts, the Indian Government, and other academic, philanthropic and corporate partners.

The report said that as temperatures steadily rise in India due to <a href="https://exam.pscnotes.com/Climate-change”>Climate Change, keeping spaces cool using alternative and innovative energy efficient technologies can open an Investment opportunity of $1.6 trillion by 2040.

This also has the potential to reduce greenhouse gas emissions significantly and create nearly 3.7 million jobs.

The report has found thatshifting to a more energy efficient pathway could lead to a substantial reduction in expected CO2 levelsover the next two decades.

Indias cooling strategy can help save lives and livelihoods, reduce carbon emissions and simultaneously position India as a global hub for green cooling manufacturing.

The report suggests a sustainable roadmap for cooling that has the potential to reduce 300 million tons of carbon dioxide annually by 2040.

Markets regulator Sebi asked to set up an Investor Risk Reduction Access (IRRA) platform to give investors an opportunity to square off their position or cancel pending orders in case of disruption of trading Services provided by trading members.

It said in recent times, with increasing dependence on technology in the securities market,

there is a rise in instances of glitches in trading members systems, some of which lead to

disruption of trading services and investor complaints.

As per the provisions, trading members, upon facing technical glitches which lead to disruptionof trading services, can request for enablement of the IRRA service.

India will assume chairmanship of the plenary of the Wassenaar Arrangement for a year on

January 1, 2023, just five years after joining the 42-member voluntary export control regime

that monitors transfers of conventional weapons and dual-use goods.

The body is a multilateral export control regime that works to promote transparency and

greater responsibility in transfers of conventional arms and dual-use goods and technologies

Through regular exchanges of information among its members.

Membership of the Wassenaar Arrangement has also bolstered Indias efforts to gain access to ensitive goods and technologies from leading players in the West.

Global economy on a steep Slowdown: According to the most recent study, the

global economy is experiencing a sharp decline after almost a year of uncertainty in 2022. TheWorld Bank report noted that the COVID-19 pandemics repercussions are still being felt todayin the form of Education losses, worldwide Inflation, supply chain disruptions, and other issueson a global scale.

The economy of the three biggest economies in the worldthe United States, China, and theeuro zonehave been rapidly slowing.

It went on to say that given the situation, even a slight blow to the world economy over the

course of the ensuing year may send it into a Recession.

In its study, the World Bank also noted that the escalating intensity of natural disasters

continues to shed Light on the social and economic effects of <a href="https://exam.pscnotes.com/Climate-change”>Climate Change.