TNPSC CURRENT AFFAIRS – 10.10.2024

1. INTERNATIONAL

CHINA WILL BE HIGH ON QUAD SUMMIT AGENDA – U.S

• Quad Summit Agenda
• China Focus: China will be a primary topic, addressing aggressive military actions, unfair trade practices, and Taiwan Strait tensions.
• Summit Details: Hosted by U.S. President Joe Biden in Wilmington, Delaware.
• Attendees: Prime Ministers Narendra Modi (India), Anthony Albanese (Australia), and Fumio Kishida (Japan).
• Discussion Topics: Health security, natural disaster response, maritime security.
• Infrastructure, critical and emerging technologies, climate, clean energy, and cyber security.
• Human Rights: Potential discussion on human rights between Biden and Modi.
• Long-term Commitments: Announcements expected to demonstrate the Quad’s enduring commitment.
• The summit marks the last meeting for Biden and Kishida, who will not seek re-election

2. AGRICULTURE

COFFEE EXPORTS EYE 60% FROM VALUE ADDED BEANS

• Coffee Production in India
• Current Annual Exports: 3.8 lakh tonnes
• Projected Export Value by 2047: $6 billion (from $1.29 billion currently)
• Value-Added Coffee Exports:
• Current: 38% of total exports
• Projected by 2047: 60% of total exports
• Speciality Coffee Exports: Current: 5% of total exports
• Projected Volume by 2047: Increase to 7 lakh tonnes (from 1.5 lakh tonnes currently) Vision and Initiatives
• Vision Statement: Position India as a country of eco-friendly, sustainable, premium coffees with a great coffee culture.
• Community Initiatives: Improve quality of post-harvest processing
• Train interested growers
• Assist exporters in targeting high-value markets Expected fivefold increase in the total value of coffee exports by 2047.

3. GEOGRAPHY

INDIGENOUS HEAVY WATER REACTOR ATTAINS CRITICALITY

• Event: Unit 7 of the Rajasthan Atomic Power Project (RAPP) at Rawatbhata achieved criticality.
• Authority: Nuclear Power Corporation of India Ltd. (NPCIL). Key Concepts
• Criticality: Definition: Criticality is the point at which a nuclear reactor achieves a selfsustaining nuclear fission chain reaction.
• Significance: Marks the transition from the construction phase to the operational phase of the reactor.
• Process: Controlled fission reactions are initiated, allowing the reactor to produce energy.
• Pressurised Heavy Water Reactor (PHWR): Type: A type of nuclear reactor that uses heavy water (deuterium oxide, D2O) as both a coolant and a neutron moderator.
• Fuel: Typically uses natural uranium as fuel.
• Advantages: Efficient use of natural uranium, better neutron economy, and the ability to refuel without shutting down the reactor.
• Rajasthan Atomic Power Project (RAPP): Location: Rawatbhata, Chittorgarh district, Rajasthan.
• Unit 7: The third reactor to achieve criticality in a series of 16 indigenous PHWRs of 700 MW each.
• Previous Units: Units 3 and 4 of the Kakrapar Atomic Power Station in Gujarat achieved criticality in 2020 and 2023, respectively.
• Atomic Energy Regulatory Board (AERB):
• Role: Regulatory authority that ensures the safety and regulation of nuclear energy in India.
• Approval: Cleared the reactor for its first approach to criticality. Significance of the Event
• Completion of Construction: Achieving criticality signifies the completion of the reactor’s construction phase.
• Commencement of Operations: Marks the beginning of the operational phase, where the reactor starts generating power.
• Energy Generation: RAPP-7 is expected to start generating electricity within the year.

4. INTERNATIONAL

THE U.S FED’S RADUCTION COULD SPELL RELIEF FOR DEVELOPING ECONOMICS

• U.S. Federal Reserve’s Rate Cut
• Action: The U.S. Federal Reserve cut interest rates by half a percentage point.
• Significance: First rate cut in over four years.
• Previous Policy: Rates had been raised to the highest level in two decades and held there for over a year. Rationale for Rate Cut
• Fed Chairman Jerome Powell: Aimed at maintaining strength in the labor market, moderate growth, and reducing inflation to 2%.
• FOMC Decision: 17 to 2 majority signaling at least another quarter-point reduction in 2024.
• Dual Mandate: Maximum employment and 2% inflation target. Impact on Global Economy
• Previous Rate Increases: Strengthened the U.S. dollar, affecting emerging market economies (EMEs) by increasing debt service burdens and inflationary pressures.
• Relief for EMEs: The rate cut is expected to ease these pressures. Impact on India
• Chief Economic Adviser V. Anantha Nageswaran: Welcomed the rate cut but noted limited impact on investor interest, which has been significant over the years.
• Foreign Portfolio Inflows: Likely increase, especially in debt markets. Broader Implications
• IMF Economists’ View: Fed easing cycle may revive capital flows to emerging and developing economies.
• Relief for Developing Economies: Particularly beneficial for countries in Africa and Latin America struggling with high costs of servicing overseas borrowings. Global Economic Outlook
• Powell’s Emphasis: U.S. economy remains strong.
• Uncertainties: Volatile conflicts in Europe and West Asia could signal troubled times ahead.

5. AGRICULTURE

M.P SETS RS. 4,892 MSP TO BUY SOYA BEAN, FARMERS WANT MORE

• Minimum Support Price (MSP): A government-set price at which it purchases crops from farmers, intended to ensure farmers a minimum profit for their harvests.
• MSP Mechanism: MSP is a critical tool for ensuring agricultural price stability and farmer welfare.
• Economic Impact: The MSP affects the agricultural economy, influencing crop choices and farming practices.
• Policy Debates: The adequacy of MSPs in covering production costs and ensuring farmer profitability remains a contentious issue.
• Madhya Pradesh (MP) Cabinet Decision:
• Approved online registration for procurement of soya bean at an MSP of ₹4,892 per quintal.
• Target: 13.68 lakh metric tonnes of soya bean to be purchased at the MSP.
• Farmer Demands: Various farmer outfits and the Opposition are pressing for an MSP of ₹6,000 per quintal, citing higher production costs.
• Government’s Stance: The MP government has stated it will procure additional soya bean with state funds if production exceeds the limit approved by the Centre.
• Political and Social Implications: Political Debate: Soya bean procurement has become a significant political issue in MP, a leading producer of the crop.
• Farmer Protests: Organizations like the Samyukta Kisan Morcha (SKM) and leaders like Rakesh Tikait are actively campaigning for higher MSPs, arguing that current prices do not cover production costs.

ONE LINER

1. The Indian Navy host the fifth edition of the Goa Maritime Symposium (GMS-24) at the Naval War College in Goa
2. The Indian Parliament will host the 10^th Commonwealth Parliamentary Association (CPA) India Region Conference in New Delhi