TNPSC CURRENT AFFAIRS – 11.07.2024

1. NOTE BAN, GST, COVID COST RS.11.3 LAKH CRORE AND 1.6 CR INFORMAL JOBS (ECONOMY)

• The economic loss to India’s informal sector due to a series of macroeconomic shocks since 2016 has been significant.
• These shocks include the demonetisation of high-value currency notes, the roll-out of the Goods and Services Tax (GST), and the COVID-19 pandemic.
• According to India Ratings and Research, the cumulative impact of these events is estimated to have caused an economic loss of 4.3% of GDP in 2022-23, amounting to ₹11.3 lakh crore.
• Analysis: Formalisation vs. Informal Sector: The period of these macroeconomic shocks coincided with a push towards the formalisation of the economy, leading to robust tax collections. However, this formalisation has had adverse effects on the informal sector, which is crucial for employment generation.
• Employment Implications: The decline in the informal sector’s footprint has significant implications for employment, particularly in manufacturing and other services.
• Economic Recovery: The slow recovery in GVA and employment levels in the informal sector indicates that the sector is still struggling to regain its pre-shock levels.

2. CM STALIN RELEASES BOOKS ON FOLK DEITIES FORTS OF T.N (HISTORY, ART AND CULTURE)

• Fort St. George, Chennai: First English fortress in India, established in 1644. Significant for understanding British colonial history.
• Gingee Fort: Known as the “Troy of the East,” significant for its military architecture and history.
• Vellore Fort: Site of the Vellore Mutiny in 1806, an important prelude to the 1857 Revolt.
• Tiruchi Rockfort: Historical significance dating back to the Chola and Nayak periods.
• Dindigul Fort: Built by the Madurai Nayak dynasty, later controlled by Hyder Ali and Tipu Sultan.
• Tharangambadi Fort: Danish fort, also known as Fort Dansborg, established in 1620.
• Sadras Fort: Dutch fort, significant for understanding Dutch colonial presence in India.
• Alamparai Fort: Built during the Mughal era, later controlled by the French.
• Vandavasi Fort: Site of the Battle of Wandiwash (1760), a decisive battle in the Anglo-French struggle in India.
• Krishnagiri Fort: Significant during the Vijayanagara Empire and later under Hyder Ali.
• Namakkal Fort: Historical significance during the Vijayanagara and Nayak periods.
• Vattakottai Fort: Coastal fort built by the Travancore kingdom.

3. PUTIN ACCEPTS MODI’S REQUEST TO RELEASE INDIAN MILITARY RECRUITS (BILATERAL)

• Diplomatic Intervention: Prime Minister Narendra Modi directly intervened with Russian President Vladimir Putin to secure the release of Indian military recruits serving in the Russian military.
• This intervention followed weeks of diplomatic discussions and efforts by the Indian Embassy in Moscow and External Affairs Minister S. Jaishankar.
• Recruitment and Deployment: Indian men were recruited into the Russian military, often lured by agents with promises of high salaries (approximately ₹2 lakh per month), Russian residency papers, and potential illegal migration routes to Europe.
• Many recruits did not register with the Indian Embassy, complicating the tracking and assistance process.
• Current Status: At least 50 Indian men are serving at the war front, with reports of four fatalities.
• Some recruits have received discharge papers but are awaiting formal release from their commanding officers.
• Legal and Ethical Considerations: The recruitment of foreign soldiers is legal under Russian law, provided they pass mental and physical checks. ○ Other countries, including Nepal, Sri Lanka, China, and African nations, also have citizens serving in similar capacities.
• Government Response: The Indian government has been under pressure to address the issue, with MPs like Asaduddin Owaisi raising concerns in Parliament.
• The Ministry of External Affairs (MEA) has acknowledged the problem and facilitated the return of some recruits.
• International Relations: The decision by President Putin to release Indian recruits is seen as a special gesture, reflecting the strong traditional ties and personal rapport between the leaders of India and Russia

4. PUBLIC CAN KEEP TABS ON TRAFFIC VIOLATIONS VIA APP (SCIENCE AND TECHNOLOGY)

• An initiative by the Transport Department in Kerala to involve citizens in traffic enforcement. This app allows users to record and upload videos or images of traffic violations, which are then reviewed by Motor Vehicles Department (MVD) officials. Based on these submissions, e-challans are issued to the violators.
• Key Features of the App: User Empowerment: Citizens can assist in enforcing traffic rules by reporting violations.
• Accessibility: The app can be downloaded from the Google Play Store.
• Real-Time Reporting: Users can record and upload live videos and images of traffic violations.
• Integration with MVD: The app has built-in links to share videos and photographs directly with MVD control rooms.
• E-Challan System: MVD officials issue e-challans based on the feeds from the app.
• Similar Initiatives: Odisha’s NextGen mParivahan App ‘Citizen Sentinel’: This app, developed by the National Informatics Centre (NIC), allows the public to record and upload videos or images of traffic violations.
• Kerala’s AI-Powered Automated Traffic Enforcement System: Launched a year ago, this system has detected close to 68 lakh traffic violations in a year.
• PWD 4U App: Introduced by the Public Works Department (PWD) in 2021, this app allows road users to report complaints about road conditions. As of mid-February 2024, 33,455 complaints had been registered.

5. FINANCIAL INSCLUSION INDEX ROSE WITH GROWTH ACROSS SEGMENTS (ECONOMY)

• The Financial Inclusion Index (FI-Index) is a comprehensive measure developed by the Reserve Bank of India (RBI) to assess the extent of financial inclusion in the country.
• It captures information on various aspects of financial inclusion in a single value ranging between 0 and 100.
• Key Features of the FI-Index – Composite Measure: The FI-Index is a composite index that includes multiple dimensions of financial inclusion.
• Range: The index ranges from 0 to 100. – 0: Complete financial exclusion.- 100: Full financial inclusion.
• Annual Update: The index is updated annually to reflect the progress in financial inclusion.
• Components of the FI-Index The FI-Index is based on three broad parameters:
• Access: Measures the availability and accessibility of financial services.
• Usage: Assesses the extent to which financial services are utilized by the population.
• Quality: Evaluates the quality of financial services and the extent of financial literacy and consumer protection.
• Recent Trends:
• March 2024: The FI-Index rose to 64.2.
• March 2023: The FI-Index was at 60.1.
• Interpretation: The increase from 60.1 in March 2023 to 64.2 in March 2024 indicates significant growth in financial inclusion across all parameters.
• This growth suggests improvements in the availability, accessibility, usage, and quality of financial services in India.
• Importance of the FI-Index:
• Policy Making: Helps policymakers understand the current state of financial inclusion and identify areas needing improvement.
• Benchmarking: Provides a benchmark to measure progress over time.
• Target Setting: Assists in setting targets for financial inclusion initiatives.
• Monitoring and Evaluation: Facilitates the monitoring and evaluation of financial inclusion programs and policies.

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