TNPSC CURRENT AFFAIRS – 19.11.2024

1. INTERNATIONAL

NORTH KOREA SENDING TROOPS TO AID RUSSIA’S WAR IN UKRAINE : SEOUL

• South Korean intelligence reports indicate that North Korea has potentially deployed 12,000 troops, including special operations forces, to support Russia’s war in Ukraine.
• Key Information: Troop Deployment:Reports suggest that 12,000 North Korean troops have been dispatched, organized into four brigades.
• Potential Significance:This deployment,if confirmed, would mark North Korea’s first major involvement in a foreign war since the Korean War. North Korea’s military, while large (1.2 million troops), lacks recent combat experience.
• Geopolitical Implications:Such a move could escalate the conflict in Ukraineby introducing a third country and further strain relations between North Korea and the West.
• Possible Motivations:Experts speculate that North Korea may have received assurances from Russia regarding security support in exchange for military assistance. This support could be related to North Korea’s nuclear program and ongoing tensions with the US and South Korea.
• Russia-North Korea Pact:A military assistance pact signed by Kim Jong-un and Vladimir Putin in June provides a framework for mutual support in case of attack, potentially underpinning this reported deployment.

2. ECONOMY

INFLATION COULD RISE 0.2% THANKS TO MSP HIKES FOR CROPS: ECONOMISTS

• Economists predict that recent increases in Minimum Support Prices (MSP) for crops could contribute to slightly higher inflation in the coming months.
• Key Factors: Elevated Inflation:Retail inflation reached a nine-month high of 5.5% in September, driven by rising vegetable prices. This trend is expected to continue in October due to delayed monsoon rains.
• MSP Hikes:The government’s recent MSP hikes for Rabi crops are anticipated to add further upward pressure on food inflation. While the hikes vary from 2.4% to 7% depending on the crop, they come at a time when prices for some crops are already elevated.
• Impact on CPI:Estimates suggest that the full pass-through of MSP increases to final consumer prices could raise the Consumer Price Index (CPI) by approximately 0.27% in an extreme scenario. However, a more realistic estimate is around 0.18-0.20% over a year.
• Crop-Specific Impacts:The impact of MSP hikes will vary depending on the specific crop. For example, wheat, which has a significant weight in the CPI basket (2.73%), saw a 6.6% MSP increase, mirroring its recent retail price rise. Other crops like chana and masoor, despite lower MSP hikes, experienced substantial price increases in September.
• Weight in CPI Basket:The combined weight of wheat, atta, chana, masoor, and mustard oil in the CPI basket is around 4.5%, indicating their potential to influence overall inflation. While the exact impact remains to be seen, the MSP hikes, coupled with existing inflationary pressures, suggest that inflation may remain a concern in the near term

3. ECONOMY

INTEREST RATE CUT AT THIS STAGE COULD BE PREMATURE, HIGHLY RISKY : RBI CHIEF

• Reserve Bank of India (RBI) Governor Shaktikanta Das has stated that an interest rate cut at this juncture would be premature and risky due to persistently high retail inflation.
• Key Points: Inflation Concerns:The Governor highlighted the elevated levels of retail inflation in September and the expectation of continued high inflation in the near future. This is the primary reason for maintaining the current interest rates.
• Data-Driven Approach:Mr. Das emphasized that future monetary policy decisions, including potential rate cuts, will depend on incoming economic data and the overall outlook. The RBI is adopting a cautious, data-driven approach.
• Neutral Stance:While the RBI maintained the repo rate in its recent announcement, it shifted its monetary policy stance to “neutral,” indicating a willingness to adjust rates based on evolving conditions.
• Regulatory Oversight:The Governor clarified the RBI’s role in the financial market, stating that it acts as a vigilant observer rather than a “policeman.” The RBI intervenes with regulatory actions when necessary, as demonstrated by the recent directives to certain NBFCs.
• Growth Outlook:Despite the cautious approach to interest rates, Mr. Das affirmed that India’s growth story remains intact. The RBI’s current stance reflects a balance between supporting economic growth and controlling inflation.The central bank is closely monitoring economic indicators and will adjust its policies as needed to maintain stability and sustainable growth.

4. NATIONAL

PRIME MINISTER SET TO LAUNCH NATIONAL LEARNING WEEK

• National Learning Week for Civil Servants Prime Minister Narendra Modi is launching “Karmayogi Saptah” or National Learning Week, an initiative aimed at enhancing the capacity of civil servants.
• Key Objectives: Individual and Organizational Capacity Building:The program seeks to improve the skills and knowledge of individual civil servants and strengthen the overall capacity of government organizations.
• Future-Ready Civil Service:The goal is to create a civil service that is adaptable, innovative, and equipped to handle future challenges, while remaining rooted in Indian values and possessing a global outlook.
• “One Government” Approach:The initiative aims to foster a sense of unity and shared purpose across different government departments, aligning everyone with national goals.
• Lifelong Learning:The program promotes continuous learning and development among civil servants.
• Implementation: Minimum Learning Target:Each civil servant (“Karmayogi”) is expected to dedicate at least four hours to competency-linked learning during the National Learning Week.
• Learning Methods:Participants can engage in various learning activities, including individual role-based modules on the iGOT platform and webinars featuring prominent speakers.
• Focus on Citizen-Centricity:The program emphasizes developing skills and knowledge that enable civil servants to deliver services effectively and efficiently, focusing on the needs of citizens. This initiative builds upon the Mission Karmayogilaunched in September 2020 and signifies the government’s commitment to investing in the development of its civil servants.

5. BILATERAL

MODI VISITED RUSSIA PARTICIPATED IN BRICS SUMMIT

• BRICSis an acronym for an association of five major emerging national economies: Brazil, Russia, India, China, and South Africa. The grouping aims to foster economic development, enhance political cooperation, and promote cultural exchange among its members.
• Current Focus: Expansion:BRICS recently expanded its membership, adding six new countries: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. This expansion reflects the growing influence of the bloc and its focus on representing the interests of the Global South.
• Trade in National Currencies:Member countries are actively pursuing increased use of their national currencies for trade, reducing reliance on the US dollar. This is particularly important for Russia, given its exclusion from the SWIFT payment system. However, a common BRICS currency is not currently under consideration.
• Dialogue and Cooperation:BRICS emphasizes dialogue free from external pressure and interference in domestic affairs. It seeks to provide a platform for mutually beneficial cooperation among its members.
• Geopolitical Relevance:The geopolitical significance of BRICS is increasing, as it offers an alternative forum for international cooperation and challenges the dominance of Western-led institutions.
• Economic Ambitions:The focus on economic growth and development remains central to the BRICS agenda. The bloc seeks to promote economic opportunities for its members and contribute to global economic stability.

ONE LINER

1. 19^th World Hunger Index: India in the intensive Analysis category
2. Chennai Port has received the IAPH Sustainability Award in the Community Infrastructure category

BANKING

1. ‘National Naturopathy Day’ (National Naturopathy Day 2024) is celebrated every year on 18 November in India . On National Naturopathy Day, positive mental and physical health is promoted through drug-free medical system. 
2. Elon Musk’s SpaceX will launch  India’s communication satellite ‘ GSAT-20’ from Cape Canaveral, USA on November 19.
3. Prime Minister Narendra Modi has been awarded Nigeria’s highest award ‘The Grand Commander of the Order of the Niger’ (GCON). Earlier, this award was given only to Queen Elizabeth II of Britain in the year 1969. In such a situation, PM Modi is the second foreign leader to receive this honor.
4. Veteran filmmaker ‘ Ashutosh Gowariker’has been appointed the Chairman of the International Jury for the International Film Festival of India-2024. The festival will be held in Goa from 20 to 28 November.
5. Denmark’s ‘ Victoria Kjaer Thelvig’ has won the title of Miss Universe 2024. Let us tell you that the Miss Universe 2024 competition was organized at the Mexico City Arena.