4th-5th May Important Events By Kandela IAS

“RBI’s Shankar advocates widespread use of CBDCs for streamlined cross-border transactions” ( GS -3)

Sankar emphasized that CBDCs have the potential to make cross-border transactions more efficient, secure, and cost-effective. CBDCs can also reduce the reliance on intermediaries, thereby increasing the speed of transactions and reducing counterparty risks. Furthermore, CBDCs can enable instantaneous settlement and increase transparency in cross-border payments.
The Deputy Governor also acknowledged the challenges associated with the implementation of CBDCs, such as the need to ensure the security and resilience of the payment system. Sankar mentioned that the RBI is exploring the possibility of launching a digital version of the Indian Rupee, but noted that the central bank will undertake a thorough assessment before launching the CBDC.
Sankar also spoke about the potential benefits of a CBDC in addressing financial inclusion, as it can enable access to digital payment systems for individuals without bank accounts. He highlighted that the RBI is committed to promoting financial inclusion and is exploring the use of CBDCs in this context.
In conclusion, Sankar reiterated that the adoption of CBDCs can bring about significant benefits for cross-border payments, and that the RBI is closely monitoring developments in this space. The central bank is exploring the possibility of launching a CBDC, and will undertake a thorough assessment to ensure the security and resilience of the payment system before making any decisions.

Central Bank Digital Currency (CBDC)
Central Bank Digital Currency (CBDC) is a new form of digital currency that is issued and regulated by a country’s central bank. It is a new digital payment system that provides many benefits, including faster and cheaper transactions, improved financial inclusion, and greater security.

⦁ Definition of CBDC: CBDC is a digital version of a country’s fiat currency that is issued and backed by its central bank. Unlike other digital currencies, such as cryptocurrencies, CBDC is a legal tender and has the same value as physical currency.
⦁ Types of CBDC: There are two types of CBDC: retail CBDC and wholesale CBDC. Retail CBDC is intended for use by the general public, while wholesale CBDC is designed for use by financial institutions.
⦁ Benefits of CBDC: CBDC has several benefits, including faster and cheaper transactions, improved financial inclusion, greater security, and reduced risk of fraud.
⦁ Potential drawbacks of CBDC: CBDC also has some potential drawbacks, such as the risk of cyberattacks, increased government surveillance, and a potential shift away from traditional banking.
⦁ Current status of CBDC: Several central banks around the world, including the People’s Bank of China and the Bank of England, are currently exploring the development of CBDC. The Bahamas has already launched its own CBDC, called the Sand Dollar.
⦁ Challenges in implementing CBDC: Implementing CBDC faces several challenges, including technological limitations, regulatory hurdles, and the need for collaboration between central banks, financial institutions, and other stakeholders.
⦁ CBDC and the future of finance: CBDC has the potential to transform the financial industry by providing faster, cheaper, and more secure digital payments. However, its success depends on overcoming the challenges and addressing potential drawbacks.

CBDC is an emerging digital payment system that offers several benefits, including faster and cheaper transactions, improved financial inclusion, and greater security. While it faces some challenges, CBDC has the potential to transform the financial industry and improve the lives of people around the world.

“India and Russia halt negotiations on settling trade payments in rupees” (GS- 2)

⦁ India and Russia have reportedly suspended talks to settle trade in rupees, according to sources.
⦁ The move follows Russia’s decision to ban the import of certain goods from India, including tea, coffee, and basmati rice, citing concerns over pests.
⦁ India had proposed settling trade in rupees to counter the impact of US sanctions on Russia, which have made it difficult for the country to access dollars.
⦁ India-Russia bilateral trade was valued at $10.11 billion in 2020-21, with India’s exports to Russia accounting for $2.06 billion and imports from Russia valued at $8.05 billion.
⦁ India has been exploring options to boost trade with Russia, including setting up a joint fund to invest in infrastructure and manufacturing projects.
⦁ The suspension of talks on rupee-based trade settlement is likely to impact bilateral trade between the two countries.
⦁ The development comes amid a broader trend of increasing economic and political ties between India and Russia, including the signing of a military agreement last year.

Kandela IAS recognizes the value of keeping abreast of current events and offers a diverse range of courses to help you stay informed of the latest developments and trends. Kandela IAS team of experienced faculty members is committed to delivering top-quality education that equips you with the knowledge and skills necessary to succeed in your profession. Our blog post, “Important Events by Kandela IAS,” provides you with valuable information about significant happenings worldwide. Moreover, Kandela IAS  provide comprehensive current affairs courses that encompass a broad range of topics, including politics, economics, sports, and entertainment.

So, if you want to achieve your career objectives, enroll in our courses today and take advantage of the learning opportunities we provide. And also Subscribe for our Youtube Channel Kandela IAS For more updates

Operation Kaveri | INS Sumedha”Operation Kaveri: INS Sumedha Plays Vital Role in Evacuation of Indian Citizens from Sudan”Operation Kaveri | INS Sumedha

In a remarkable show of humanitarianism, India has launched “Operation Kaveri” – a massive rescue operation aimed at evacuating Indian citizens from war-torn Sudan. The operation has been launched in response to the deteriorating security situation in Sudan, which has left Indian nationals stranded and in need of urgent assistance.

The operation, which is being coordinated by the Indian embassy in Sudan, has been underway since last week and has already rescued a significant number of Indian citizens. The Indian Air Force has been deployed to airlift stranded citizens to safety, while the Indian Navy has dispatched warships to the region to assist with the evacuation efforts. Civil War in Sudan intensifies.

The Indian government has emphasized that the safety and security of its citizens is its top priority, and has been working tirelessly to ensure that all Indian nationals in Sudan are brought back home safely. The government has also urged all Indian citizens in Sudan to contact the Indian embassy in Khartoum as soon as possible, in order to receive assistance with evacuation.

“Operation Kaveri” is just one example of India’s commitment to global humanitarianism, and to supporting its citizens both at home and abroad. The operation has received widespread praise from citizens and leaders alike, with many hailing it as a shining example of India’s readiness to assist those in need.

In recent years, India has become increasingly involved in international humanitarian efforts, with a particular focus on providing assistance to its fellow citizens stranded in crisis situations abroad. The government has established a dedicated division within the Ministry of External Affairs to handle such situations, and has also collaborated with international organizations and other countries to provide assistance wherever needed.

As the world becomes more interconnected, it is clear that the challenges facing humanity are global in nature. From climate change to political instability, from pandemics to natural disasters, there is a growing need for nations to work together in order to tackle these challenges and build a better future for all. India’s commitment to global humanitarianism, as exemplified by “Operation Kaveri,” is a shining example of how nations can come together to make a positive difference in the world.

INS Sumedha

INS Sumedha (P58) is the third Saryu-class patrol vessel of the Indian Navy, designed and built indigenously at the Goa Shipyard Ltd. This stealth offshore patrol vessel is equipped with advanced weaponry and sensors. Its operational duties include anti-piracy patrol, search and rescue (SAR), humanitarian assistance and disaster relief (HADR), surveillance, and escort missions. The vessel has the capability to carry an Advanced Light Combat Helicopter and is involved in monitoring sea lines of communications and offshore assets, as well as escort duties. The Indian Navy has confirmed that INS Sumedha plays a crucial role in supporting the fleet’s operations.

Kandela IAS recognizes the value of keeping abreast of current events and offers a diverse range of courses to help you stay informed of the latest developments and trends. Kandela IAS team of experienced faculty members is committed to delivering top-quality education that equips you with the knowledge and skills necessary to succeed in your profession. Our blog post, “Important Events by Kandela IAS,” provides you with valuable information about significant happenings worldwide. Moreover, Kandela IAS  provide comprehensive current affairs courses that encompass a broad range of topics, including politics, economics, sports, and entertainment.

So, if you want to achieve your career objectives, enroll in our courses today and take advantage of the learning opportunities we provide. And also Subscribe to our Youtube Channel Kandela IAS For more updates

How to Crack the Civil Services Examination : Master the Syllabus and Exam Pattern

What is Civil Services Examination Conducted By UPSC ?

The Civil Services Examination Conducted By UPSC (Union Public Service Commission) is considered to be one of the most challenging and prestigious examinations in India. It is conducted by the Union Public Service Commission, a constitutional body responsible for recruiting candidates for various government services and posts.

The Union Public Service Commission (UPSC) was established on October 1, 1926, by the Government of India Act, 1935. However, the roots of UPSC can be traced back to the colonial era, where the British Government in India used to conduct civil service examinations to recruit officers for the Indian Civil Service (ICS). After India gained independence, the Constitution of India provided for the establishment of an independent UPSC to conduct examinations for recruitment to various civil services of the Indian Government. Since then, UPSC has been playing a crucial role in recruiting and selecting the best candidates for the country’s civil services.

What is the UPSC Exam Pattern ?

The UPSC examination is held in three stages – Prelims, Main, and Personality Test/Interview. The Preliminary stage is a screening test that consists of two papers – General Studies and CSAT (Civil Services Aptitude Test). The Main stage consists of 9 papers, including Essay, General Studies I, II, III, and IV, and Optional Papers I and II. The Personality Test/Interview is the final stage of the examination.

The UPSC examination is known for its vast syllabus and the high level of competition it entails. It covers various topics such as History, Geography, Polity, Economics, Science and Technology, Environment and Ecology, International Relations, Ethics and Integrity, and Current Affairs. The examination demands a deep understanding of these subjects, as well as excellent analytical, writing, and communication skills.

Stage 1. UPSC Prelims

UPSC Prelims, also known as the Civil Services Preliminary Examination, is the first stage of the UPSC examination. It is conducted to screen candidates for the Main Examination, which is the second stage of the UPSC examination.

The UPSC Prelims comprises two papers, Paper I and Paper II, and both are conducted on the same day.

Paper I tests the candidates’ knowledge on subjects such as history, geography, economics, polity, and current affairs, whereas Paper II tests their comprehension, logical reasoning, and analytical skills.

The UPSC Prelims is a multiple-choice question-based exam, and the candidates who qualify for the Prelims will be eligible to appear for the Main Examination. The UPSC Prelims is a highly competitive exam, and it requires rigorous preparation and dedication to crack.

Table For UPSC Prelims

• The questions in the IAS Exam (Prelims) are of the objective type or (MCQs) Multiple Choice Questions
• There is ‘Negative Marking’ in the UPSC Exam for each incorrect answer but only in the Prelims stage. The negative marking for incorrect answers will be 1/3rd (0.66) of the allotted marks of that question.
• The GS Paper II (CSAT) in UPSC exam is of qualifying nature and candidates should score a minimum of 33% in this paper to qualify to the next stage of the UPSC exam i.e. the Mains.
• Blind candidates are given an extra time of 20 minutes for each paper in the UPSC Exam (Prelims).
• It is mandatory for the candidates to appear in both the papers of civil services prelims exam for the evaluation.
• The marks scored by the candidates in the preliminary examination are not counted for the final score. It is only a screening test where candidates not securing the cut-off marks are eliminated.

Stage 2. UPSC Mains

The UPSC Mains is the second stage of the Civil Services Examination, which is conducted by the Union Public Service Commission (UPSC). The UPSC Mains exam is considered one of the toughest exams in India and consists of nine papers. In this article, we will discuss the exam pattern, syllabus, and preparation tips for the UPSC Mains.

Exam Pattern for UPSC Mains

The UPSC Mains is a written exam that consists of nine papers. The first two papers are language papers, which are qualifying in nature, and candidates need to score a minimum of 25% marks in each paper to qualify for the interview. The other seven papers are counted for ranking purposes.

Syllabus for UPSC Mains

The syllabus for the UPSC Mains exam is vast and covers a wide range of topics. The following is a brief overview of the syllabus for each paper:

Paper-A: Language (Qualifying)
This paper tests the candidate’s proficiency in any one of the languages listed in the Eighth Schedule of the Indian Constitution. The paper tests the candidate’s ability to understand and comprehend the language and write it accurately.

Paper-B: Language (Qualifying)
This paper tests the candidate’s proficiency in English. The paper tests the candidate’s ability to understand and comprehend the language and write it accurately.

Paper-I: Essay
The essay paper requires candidates to write an essay on a given topic. Candidates are expected to write an essay that is clear, concise, and coherent. The essay paper tests the candidate’s ability to express their thoughts in a logical and coherent manner.

Paper-II: General Studies-I
This paper covers a wide range of topics such as Indian Heritage and Culture, History, and Geography of the World and Society. The paper tests the candidate’s understanding of the Indian society, culture, and its impact on the world.

Paper-III: General Studies-II
This paper covers topics such as Governance, Constitution, Polity, Social Justice, and International relations. The paper tests the candidate’s understanding of the Indian Constitution, governance, and the social and political structure of the country.

Paper-IV: General Studies-III
This paper covers topics such as Technology, Economic Development, Biodiversity, Environment, Security, and Disaster Management. The paper tests the candidate’s understanding of the various issues related to economic development, technology, and the environment.

Paper-V: General Studies-IV
This paper covers topics such as Ethics, Integrity, and Aptitude. The paper tests the candidate’s ability to analyze and solve ethical and moral dilemmas, and their aptitude to make decisions in a given situation.

Paper-VI and Paper-VII: Optional Subject Paper-I and II
Candidates are required to choose an optional subject from a list of subjects provided by the UPSC. The optional subjects include Literature, History, Political Science, Sociology, Geography, Anthropology, Psychology, Philosophy, and Law, among others. The paper tests the candidate’s knowledge of the subject they have chosen.

Preparation Tips for UPSC Mains

Preparation for the UPSC Mains exam requires a well-structured and organized approach. Here are some tips that candidates can follow to prepare for the exam:

1. Understand the Exam Pattern and Syllabus: Candidates should thoroughly understand the exam pattern and syllabus to create a study plan that covers all the topics.
2. Time Management: Candidates should manage their time effectively and allocate sufficient time for each paper. Candidates should ensure that they have enough time for revision and practice.
3. Practice Writing: The UPSC Mains is a written exam, and therefore, candidates should practice writing answers to develop their writing skills.
4. Read Newspapers and Magazines: Reading newspapers and magazines can help candidates stay updated on current affairs and developments in different fields.
5. Take Mock Tests: Candidates should take mock tests to get an idea of the exam pattern, time management, and also identify their strengths and weaknesses.
6. Study Material: Candidates should refer to the recommended study material and books. They should also make notes and revise them regularly.
7. Revision: Revision is an essential part of preparation. Candidates should revise their notes regularly to retain the information.

In conclusion, the UPSC Mains exam is a challenging exam that requires dedication, hard work, and perseverance. Candidates should understand the exam pattern and syllabus, manage their time effectively, and practice writing to prepare well for the exam. Regular revision, staying updated on current affairs, and taking mock tests can help candidates improve their performance in the exam.

The UPSC interview, also known as the Personality Test, is the final stage of the UPSC Civil Services Examination. Candidates who have qualified the UPSC Mains exam are eligible to appear for the interview. The interview is conducted by a board of experts who assess the candidate’s personality, mental alertness, social traits, and overall suitability for the civil services.

Stage :3 Interview Process

The UPSC interview is a face-to-face interaction between the candidate and the board of experts. The interview usually lasts for around 30 minutes, and the board asks questions related to the candidate’s education, work experience, hobbies, interests, and current affairs. The interview aims to assess the candidate’s mental and intellectual abilities, as well as their social skills and personality traits.

Preparation Tips

Here are some tips that candidates can follow to prepare for the UPSC interview:

1. Research: Candidates should research and gather information about the current affairs, the civil services, and their own background. They should be well-informed about their education, work experience, hobbies, interests, and achievements.
2. Practice Mock Interviews: Candidates should practice mock interviews with friends, family, or mentors. Mock interviews can help candidates get familiar with the interview process and prepare for the types of questions that may be asked.
3. Work on Communication Skills: Communication skills are essential for the interview. Candidates should work on improving their communication skills, including their language proficiency, tone, and body language.
4. Stay Confident and Positive: Confidence and a positive attitude are essential for the interview. Candidates should stay calm, composed, and confident during the interview.
5. Dress Appropriately: Candidates should dress appropriately for the interview. They should wear formal attire and avoid loud colors, accessories, and perfumes.
6. Be Honest: Candidates should be honest and truthful during the interview. They should not try to exaggerate or misrepresent their achievements or background.

Interview Assessment

The UPSC interview is a crucial stage of the selection process, and the board of experts assesses the candidate’s personality, mental alertness, social traits, and overall suitability for the civil services. The interview carries a weightage of 275 marks out of the total 2025 marks, and the final selection is based on the candidate’s performance in the interview and the UPSC Mains exam.

In conclusion, the UPSC interview is the final stage of the selection process, and candidates should prepare well to improve their chances of selection. Candidates should research, practice mock interviews, work on communication skills, stay confident and positive, and dress appropriately for the interview. The interview assesses the candidate’s personality, mental alertness, social traits, and overall suitability for the civil services, and carries a weightage of 275 marks.

UPSC Career Opportunities

The UPSC examination offers a diverse range of career opportunities in various services and posts, including the Indian Administrative Service (IAS), Indian Police Service (IPS), Indian Foreign Service (IFS), Indian Revenue Service (IRS), and various other Group A and Group B services. The services and posts offered by the UPSC are considered to be prestigious, challenging, and rewarding, providing candidates with opportunities to serve the nation and make a significant impact on society.

Preparation Tips For UPSC

Preparing for the UPSC examination requires dedication, discipline, and hard work. Candidates need to have a thorough understanding of the syllabus, regular practice, and time management skills. They can prepare for the examination through self-study or by joining coaching institutes, depending on their preferences and requirements.

Conclusion

In conclusion, the UPSC examination is a highly competitive and prestigious examination that offers candidates an opportunity to serve the nation in various government services and posts. It demands a deep understanding of various subjects, excellent analytical and communication skills, and dedication and hard work. If you are aspiring to become a civil servant and make a difference in society, the UPSC examination is an excellent opportunity to achieve your goals.

Pro Tip

Looking to crack the UPSC exam? The General Studies Foundation course offered by Kandela IAS Academy is your ultimate guide. This course is designed to provide a strong foundation for candidates appearing for the UPSC exam.

The General Studies Foundation course covers all the essential topics in the UPSC syllabus, including Indian Polity, Economy, Geography, History, Environment, and Current Affairs. Our experienced faculty members provide in-depth knowledge of each topic with the help of interactive lectures, study materials, and practice tests.

Our course is designed to cater to the needs of both beginners and experienced aspirants. We provide personalized attention to every student and offer doubt-clearing sessions to ensure that every student is on the right track.

At Kandela IAS Academy, we strive to provide a holistic approach to UPSC exam preparation. Apart from the General Studies Foundation course, we also offer optional subject courses, essay writing courses, and interview guidance. We also provide mentoring sessions with successful UPSC candidates to help our students gain valuable insights into the exam.

Don’t let the UPSC exam intimidate you. Join our General Studies Foundation course and take the first step towards your dream career in the civil services.

Frequently Asked Questions (FAQs) About UPSC Civil Services Examination (IAS)

And Also Subscribe to Kandela IAS YouTube channel for expert guidance and valuable insights on cracking the UPSC exam.

23rd-24th April Important Events By Kandela IAS

Rare-Earth Elements Discovered in Anantapur District, Andhra Pradesh

Introduction

Scientists at the National Geophysical Research Institute (NGRI) in Hyderabad have discovered the presence of rare-earth elements (REEs) in the Anantapur district, Andhra Pradesh. The discovery was part of a study funded by the Council of Scientific and Industrial Research (CSIR) under a project called ‘Shallow subsurface imaging Of India for Resource Exploration’ (SHORE).

What are Rare-Earth Elements?

Rare-earth elements (REEs) are a group of 17 elements, including lanthanum, cerium, praseodymium, neodymium, yttrium, hafnium, tantalum, niobium, zirconium, and scandium. These elements are widely used in modern electronics, such as smartphones, computers, jet aircraft, and other products, due to their unique magnetic, optical, and catalytic properties. These elements are crucial components in various electronic devices and have industrial applications in sectors like imaging, aerospace, and defense.

SHORE Project and Discovery of REEs

NGRI scientists found enriched quantities of REEs in “whole rock analyses”. Drilling for at least a kilometer deep will help ascertain the consistency of the elements’ presence underground. The discovery is significant as these elements are in high demand worldwide, and their supply is limited. China is currently the world’s largest producer and exporter of rare-earth elements (REEs), accounting for more than 80% of global production. The country has significant reserves of REEs and has invested heavily in mining and processing infrastructure.

Significance of the Discovery

The discovery of REEs in the Anantapur district is significant as it opens up new opportunities for India to become self-reliant in the production of these elements. The dependence on China for the supply of REEs can be reduced, and it can also create new job opportunities in the region. Furthermore, this discovery can boost the country’s economy and increase India’s competitiveness in the global market. The discovery of REEs in India is a step towards achieving the goal of ‘Atmanirbhar Bharat’ or ‘Self-Reliant India’ in the field of rare-earth production.

Jal Shakti Ministry to establish a network of groundwater sensors for monitoring contamination levels and quality

Introduction:

The Jal Shakti Ministry, which oversees water resources in India, has launched an ambitious plan to deploy a vast network of groundwater sensors to continuously monitor groundwater quality and contamination levels down to the taluk level. Here are some key points about the plan:

• Continuous monitoring:
• Currently, groundwater levels and contamination are measured only a few times a year and communicated through reports of the Central Groundwater Board (CGWB). Under the new plan, around 16,000-17,000 digital water level recorders will be connected to piezometers in wells to continuously measure groundwater quality and contamination levels. This information will be fed into a centralised network, such as that of the National Water Informatics Centre (NWIC), and be available for monitoring.
• Greater visibility: Establishing a network of sensors will make groundwater visible in the same way as air quality and meteorological variables such as air pressure, moisture, and precipitation. This will enable the Jal Shakti Ministry to provide groundwater forecasts to farmers, which will be useful for sowing, and updated advisories that can influence groundwater extraction policies by states. Most of this information will be publicly accessible.
• Network expansion: The CGWB currently relies on a network of about 26,000 groundwater observation wells that require technicians to manually measure the state of groundwater in a region. In the next three years, the CGWB aims to increase its network to about 40,000. When combined with similar networks possessed by other institutions – state bodies, agriculture and meteorology departments – India will have about 67,000 digitally recordable units to monitor groundwater dynamics.
• National Aquifer Mapping Program: The CGWB is in charge of the National Aquifer Mapping Program (NAQUIM), which has mapped the country’s aquifers at a resolution of 1:50000 as of March. Under the second phase of the program, the resolution is expected to improve by five times in the country. So far, an area of 25.15 lakh square km has been covered under the NAQUIM studies.
• Extraction and contamination: The Ground Water Resource Assessment-2022 shows that the total annual groundwater recharge in the country is 437.60 billion cubic meters (BCM). The annual extractable groundwater resource has been assessed as 398.08 BCM, with actual extraction of 239.16 BCM. The average stage of groundwater extraction for the country as a whole is about 60.08%, and anything above 70% is considered “critical.” Some regions in Punjab, Haryana, Delhi, and Rajasthan have groundwater blocks with over 100% extraction. Groundwater contamination, mostly natural, hasn’t significantly changed over the years. Nitrate contamination, a result of nitrogenous fertilisers, has been observed, and some regions have fluoride and arsenic contamination.
• Intensive monitoring: Those regions and states that are known to have groundwater contamination, such as coastal salinity or excessive depletion, will be monitored more intensely for action by states.

the Jal Shakti Ministry’s plan to deploy a vast network of groundwater sensors will provide critical information on groundwater quality and contamination levels. This information will be crucial for decision-making by farmers, states, and other institutions. Continuous monitoring will make groundwater visible and publicly accessible, and intensive monitoring of contaminated regions will enable prompt action by states.

Kandela IAS recognizes the value of keeping abreast of current events and offers a diverse range of courses to help you stay informed of the latest developments and trends. Kandela IAS team of experienced faculty members is committed to delivering top-quality education that equips you with the knowledge and skills necessary to succeed in your profession. Our blog post, “Important Events by Kandela IAS,” provides you with valuable information about significant happenings worldwide. Moreover, Kandela IAS  provide comprehensive current affairs courses that encompass a broad range of topics, including politics, economics, sports, and entertainment.

So, if you want to achieve your career objectives, enroll in our courses today and take advantage of the learning opportunities we provide. And also Subscribe for our Youtube Channel Kandela IAS For more updates

19th-20th April Important Events By Kandela IAS

Changes in Windfall Tax and Export Levy on Diesel in India

Introduction

• The Indian government has made changes in the windfall profit tax and export levy on diesel.
• Windfall profit tax on domestically produced crude oil has been reintroduced.
• The tax on export of diesel has been cut to nil.

Changes in Windfall Profit Tax

• Windfall profit tax on domestically produced crude oil is now ₹6,400 per tonne with effect from April 20, 2023.
• This tax was cut to nil on April 4, 2023, when international oil prices were below $75 per barrel.
• The tax has been reintroduced due to the increase in oil prices following a cut in production announced by OPEC and its allies.
• ICRA expects government collections from this tax to be around ₹15,000 crore for FY24 (April 2023 to March 2024).
• The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks.
• The government’s collection from the special additional excise duty (SAED) is estimated at around ₹40,000 crore in FY2023.

Changes in Export Levy on Diesel

• The tax on export of diesel has been cut to nil from ₹0.50 per litre.
• The tax on overseas shipments of aviation turbine fuel (ATF) remains at nil.
• The export tax on petrol was scrapped in the first review, and that on ATF was done away with at the March 4 review.
• The government levies tax on windfall profits made by oil producers on any price they get above a threshold of $75 per barrel.
• The levy on fuel exports is based on cracks or margins that refiners earn on overseas shipments.

Conclusion

• The Indian government has reintroduced windfall profit tax on domestically produced crude oil due to an increase in oil prices.
• The tax on export of diesel has been cut to nil.
• These changes are reviewed every fortnight based on average oil prices in the previous two weeks.
• The government’s collection from the special additional excise duty is estimated to be around ₹40,000 crore in FY2023.

India to Overtake China as the World’s Most Populous Country by 2023: UN Report

According to the United Nations Population Fund (UNFPA), India is set to overtake China as the world’s most populous country by mid-2023. Here are the key points from the report:

Population Figures:

• India’s population is expected to reach 1.4286 billion (142.86 crore), while China’s is estimated at 1.4257 billion (142.57 crore).
• The United States ranks third, with an estimated population of 340 million (34 crore).
• The world’s population surpassed 8 billion (800 crore) in November 2022.

Population Trends:

• The report suggests that global population trends indicate slower growth and ageing societies, contrary to fears of exploding numbers.
• Only eight countries, including India, are expected to account for half of the projected global population growth by 2050.
• Two-thirds of people currently reside in a country where lifetime fertility corresponds to zero growth.

Population Policy:

• The UNFPA warns against the imposition of family planning targets as a tool for achieving fertility goals, as they can lead to gender-based discrimination and harmful practices.
• The report cautions against population anxieties and calls for a radical rethink on how countries address changing demographics.
• The agency recommends introducing policies with gender equality and rights at their core, such as parental leave programmes, child tax credits, gender equality in the workplace, and universal access to sexual and reproductive health and rights.

Demographic Dividend:

• The report highlights that India has a time-bound opportunity to benefit from its demographic dividend, with close to 50% of its population below the age of 25.
• The UNFPA calls for additional investments in health, education, and quality jobs for young people, including targeted investments in women and girls.

Concerns in India:

• The report suggests that population anxieties have seeped into the general public, despite India’s population growth rate slowing down.
• Some political leaders have called for a two-child norm, and certain states have barred those with more than two children from government jobs.
• The UNFPA warns against such targets, as they can lead to imbalanced sex ratios, preferential treatment for male children, violence against women for giving birth to girls, and coercion of women to have fewer or more children.

Kandela IAS recognizes the value of keeping abreast of current events and offers a diverse range of courses to help you stay informed of the latest developments and trends. Our team of experienced faculty members is committed to delivering top-quality education that equips you with the knowledge and skills necessary to succeed in your profession. Our blog post, “Important Events by Kandela IAS,” provides you with valuable information about significant happenings worldwide. Moreover, we provide comprehensive current affairs courses that encompass a broad range of topics, including politics, economics, sports, and entertainment. So, if you want to achieve your career objectives, enroll in our courses today and take advantage of the learning opportunities we provide. And also Subsrcibe for our Youtube Channel Kandela IAS For more updates

18th-19th April Important Events By Kandela IAS

India and China buy Russian oil above Western price cap

• Indian and Chinese ports have purchased the majority of Russian Urals oil in April at prices above the Western price cap of $60 per barrel.
• The Kremlin is benefiting from stronger revenues despite the West’s efforts to restrict funds for Russia’s military actions in Ukraine.
• The Western price cap is expected to remain unchanged for now, according to a G7 source, despite some European Union countries’ desire to lower the cap and increase pressure on Moscow.
• Supporters of the price cap claim that it reduces Russia’s revenue while maintaining oil flow, while opponents argue that it is too lenient to force Russia to reverse its activities in Ukraine.
• Refinitiv Eikon’s recent data reveals that most Russian Urals oil cargoes that loaded in the first half of April are headed to India’s and China’s ports.
• India accounted for over 70% of seaborne Urals supplies, while China accounted for roughly 20%, according to Reuters calculations.
• Lower freight rates and smaller discounts for Urals against global benchmarks raised the daily price of the grade above the cap earlier in April, after a period of trading below it.
• Although India and China have not agreed to comply with the price cap, the West had hoped that the threat of sanctions would discourage traders from assisting those countries in purchasing oil above the cap.
• According to traders, the average discounts for Urals were $13 per barrel to dated Brent on a DES basis in Indian ports and $9 to ICE Brent in Chinese ports, while shipping costs were $10.5 and $14 per barrel, respectively, for loadings from Baltic ports to India and China.
• According to Reuters calculations, the Urals price on an FOB basis in Baltic ports, which allows for around $2 per barrel of additional transportation costs, has been slightly above $60 per barrel in April.

Bottom of Form

Lower freight rates

Recent Reduction in Shipping Costs for Russian Oil

 Shipping costs for Russian oil have come down significantly in recent weeks due to the easing of Russian port ice conditions and increased availability of tankers. This reduction in freight rates is benefiting both Indian and Chinese buyers of Urals crude oil.

1. Freight Rates for Urals Cargoes to India

• Freight rates for Urals cargoes loading in Baltic ports for delivery to India have eased to $7.5-$7.6m from $8-$8.1m two weeks ago.
• This reduction in costs is a result of increased availability of tankers.
• Cost of Tanker Shipment to China

• The cost of tanker shipment from Baltic ports to China was $10m, down from nearly $11m a couple of weeks ago.
• This decrease in freight costs is due to the easing of Russian port ice conditions.
• Winter Freight Costs for Urals Cargoes

• During winter, freight costs for Urals cargoes jumped above $12m for both India and China.
• The current reduction in shipping costs suggests that Russian oil suppliers have secured enough vessels despite long distances.
• OPEC+ Output Cuts

• Output cuts announced by the OPEC+ group of oil producers at the start of April have also boosted values for various grades around the world, including Urals.
• This has further increased the value of Urals crude oil for both Indian and Chinese buyers.
• Urals Prices in Indian and Chinese Ports

• In March, Urals prices in Indian ports traded at a discount of $14-$17 per barrel to dated Brent on a DES basis.
• Meanwhile, the price at Chinese ports was approximately $11 per barrel against ICE Brent.
• Lower shipping costs may help to reduce this discount in the future.

India to Challenge WTO Panel Decision on IT Tariffs through Appeal

• India is planning to appeal against a ruling by a panel at the World Trade Organization (WTO).
• The panel ruled that India violated global trading rules by imposing tariffs on some IT products.
• The dispute was with the European Union, Japan, and Taiwan over import duties on IT products.
• India will appeal the decision, according to a government source from the trade ministry.
• The WTO’s top appeals bench is not functioning due to US opposition to judge appointments, so the case will sit in legal purgatory if India appeals.
• In 2019, the EU, Japan, and Taiwan challenged India’s introduction of import duties for a wide range of IT products, saying they exceeded the maximum rate.
• India’s trade ministry has not yet commented on the matter.

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17th-18th April Important Events By Kandela IAS

India ‘s clinical trials registry

Introduction

• Speedy approval of Covid-19 vaccines during the pandemic highlighted the importance of clinical trials
• Haste with which some vaccine-related phases were cleared in India raised questions about transparency, safety, and efficacy

Transparency of Clinical Trials

• Clinical trial is transparent if all information is accessible in the public domain
• Clinical Trials Registry-India (CTRI) is a free, online public-record system to register clinical trials in India
• CTRI was launched in July 2007 for voluntary use and mandated for all trials in June 2009
• Any trial using human participants and testing drugs, surgical procedures, preventive measures, lifestyle modifications, devices, educational and behavioral treatment, and rehabilitation strategies must be enrolled in the registry
• To register, the trial sponsor needs to make a public declaration, identify investigators, define participant selection criteria, seek Drug Controller’s approval, and receive approval from ethics committees at various trial sites

CTRI’s Recognition

• CTRI is one of 17 public trial registries under the International Clinical Trials Registry Portal
• CTRI is recognized as a primary registry by the World Health Organization

• Transparency in clinical trials is crucial for ensuring the safety and efficacy of medical interventions
• CTRI provides a platform for registering and monitoring clinical trials in India, ensuring transparency and accountability

Problems with CTRI:

1. Missing data – Inconsistent records of enrollment, with only 46% of trials being updated after final enrollment.
2. Classification of type of study – Lack of standardized categories, resulting in over 1,000 atypical categories.
3. Internal consistencies – Trials have been known to have internal inconsistencies, such as filling the wrong type of trial.
4. Confusion over definitions – Inaccurate entries due to confusion over definitions, such as interventional trials being listed as observational trials.
5. Incomplete/non-standard information – Non-standardized information about cities may cause confusion and repetition in the registry.
6. Variations in names and organizations – Registering the correct name of the principal investigator is crucial, but wrong spelling, use of abbreviations, or different surnames can hinder the process.
7. Messy data – Unclear data, such as the same acronym being used for two organizations, can lead to overlap and confusion.

Proposed solutions to overcome it:

1. Adhering to WHO guidelines and accurate registration of trials.
2. Making it mandatory for all clinical trials in India to be registered on CTRI.
3. Improving the inner workings of CTRI to be a more functional primary registry.
4. Improving the amount of information each record provides.
5. Adding a ‘Results’ field to the register.
6. Implementing a data-sharing plan.
7. Providing details of the audit trail.

World Haemophilia Day: raising awareness about a rare blood disorder

Background

• World Hemophilia Day observed on April 17th
• First commemorated by the World Federation of Hemophilia (WFH) in 1989 in memory of Frank Schnabel
• Schnabel dedicated his life to helping those affected by the disease

Theme and Goals for 2023

• Theme for 2023: “Access for All: Prevention of Bleeds as the Global Standard of Care”
• Goal is to increase access to care for better bleeding control
• Aim to persuade policymakers and governments to enhance access to care

Understanding Hemophilia

• Hemophilia is a genetic disorder that affects the body’s ability to form blood clots
• People with haemophilia have deficiencies or abnormalities in certain clotting factors
• Symptoms include prolonged bleeding or spontaneous bleeding into muscles, joints, or organs

Treatment

• Treatment typically involves replacement therapy, which involves infusing clotting factor concentrates into the bloodstream
• Depending on the severity of hemophilia, treatment may be needed regularly to prevent bleeding episodes
• Other treatments may include medications to promote clotting or surgery to repair damage caused by bleeding

Recent Developments

• US regulators approved CSL Behring’s hemophilia B gene therapy, a one-off infusion that frees patients from regular treatments but costs $3.5 million a dose, making it the most expensive medicine in the world
• By administering CSL Behring’s Hemgenix just once, it cut the number of bleeding events expected over the course of a year by 54%
• It also freed 94% of patients from time-consuming and costly infusions of Factor IX, which is currently used to control the potentially deadly condition

Hemophilia in India

• Hemophilia is an inherited condition that causes bleeding for a long time after injury or surgery and painful swelling of the joints either after injury or even without injury
• Hemophilia A (clotting factor VIII deficiency) is more common and occurs in about 1 in 5,000 births in India
• Hemophilia B (factor IX deficiency) is less common and occurs in around 1 in about 20,000 births
• India is estimated to have the second-highest number of hemophilia cases with nearly two lakh cases
• Only 20,000 registered patients for hemophilia in the country, according to the Hemophilia Foundation of India

At Kandela IAS, we understand the importance of staying up-to-date with current affairs. That’s why we offer a wide range of courses that are designed to help you stay on top of the latest events and trends. Our expert faculty members are committed to providing you with the best quality education, ensuring that you have the knowledge and skills you need to succeed in your career. With our Important Events by Kandela IAS Blog Post, you can stay informed about the most significant events happening around the world. And if you’re looking for a comprehensive current affairs course, look no further than Kandela IAS. Our courses cover everything from politics and economics to sports and entertainment. So why wait? Sign up for our courses today and take the first step towards achieving your career goals.

14th -15th April Important Events : 01.

Juice spacecraft successfully launched to explore Jupiter’s icy moons

• Juice is a mission launched by the European Space Agency (ESA) on April 13, 2023, from its spaceport in French Guiana using an Ariane 5 launcher.
• The mission aims to explore Jupiter and its three largest icy moons, which are potentially habitable environments.
• The Juice mission will make detailed observations of Jupiter and its three large ocean-bearing moons using remote sensing, geophysical, and in situ instruments.
• Scientists believe that Ganymede, the largest moon in the Solar System, is the most interesting target for exploration because it generates its magnetic field.
• Juice will measure Ganymede’s rotation, gravity, shape, interior structure, magnetic field, and composition to a depth of about nine km.
• The mission also aims to create a comprehensive picture of Jupiter and understand its origin, history, and evolution.
• Juice will study the chemistry, structure, dynamics, weather, and climate of Jupiter and its ever-changing atmosphere.
• The industrial consortium led by Airbus Defence and Space built Juice based on parameters provided by the ESA.
• Only two other spacecraft have ever examined Jupiter: the Galileo probe, which orbited the gas giant between 1995 and 2003, and Juno, which has been circling the planet since 2016.
• NASA’s Europa Clipper spacecraft is also scheduled to orbit Jupiter by 2030 to study its Europa moon.

14th -15th April Important Events : 02

India’s forex reserves rise $6.30 billion to $584.75 billion

• India’s forex reserves increased by USD 6.306 billion to USD 584.755 billion for the week ended April 7, as per the RBI.
• In the previous reporting week, the forex reserves had decreased by USD 329 million to USD 578.45 billion.
• The country’s forex reserves reached an all-time high of USD 645 billion in October 2021 but have been declining due to the central bank’s efforts to defend the rupee.
• Foreign currency assets, a significant component of the reserves, rose by USD 4.74 billion to USD 514.431 billion for the week ended April 7.
• The foreign currency assets include the impact of appreciation or depreciation of non-US units such as the euro, pound, and yen held in the forex reserves.

14th -15th April Important Events : 03

NISAR satellite to map Himalayas’ seismic zones

Scientists and stakeholders from across India gathered in New Delhi to discuss earthquake preparedness in the country. Here are the key takeaways from the workshop:

1. Accurately mapping earthquake-prone areas using the NISAR satellite: Scientists are using the NISAR spacecraft to identify areas where the strain is building up for a potential earthquake. The satellite can track small changes in plate tectonics and update plate deformation data every 12 days, which can be used by scientists to calculate strain in different parts of the country.
2. Microzonation exercise: The National Centre for Seismology is undertaking a microzonation exercise to identify earthquake zones at a more granular level, which can help people build structures accordingly. This mapping exercise was already completed for major metros like Delhi and Kolkata.
3. Glacial lake outburst flood (GLOF): Scientists discussed natural disasters that are an indirect result of earthquakes, such as GLOFs or landslides in the Himalayas. GLOFs take place when the water overflows from a lake formed by the melting of a glacier, which is held by a natural dam made of rocks and sediments known as a moraine. An earthquake can destabilize the dam that is holding the water in the lake.
4. Draining out Himalayan glacial lakes: Ashim Sattar, a scientist at IISc, proposes that bringing down the water level of the lake by draining it out with pipes can prevent major disasters. He is working on identifying Himalayan glacial lakes at the risk of GLOFs. To recover the cost of such projects, Sattar says that the water drained from these lakes could be used to generate hydropower.
5. Seismic hazard zones: India’s seismic zoning map classifies the total area into four seismic zones: V, IV, III & II. Zone V is seismically the most active region, while zone II is the least.
6. Retrofitting buildings: A high percentage of buildings in India were found to be unsafe constructions. Kamal Kishore, a member secretary of the National Disaster Management Authority (NDMA), suggested that even retrofitting older buildings can have a huge impact on saving lives.
7. Strengthening outreach activities: The workshop concluded with a call to strengthen outreach activities. Scientists need to work on developing new models and identifying earthquake precursors that can help predict earthquakes. Even a few seconds of early warning could end up saving lives.

14th -15th April Important Events : 04

RBI Pauses Policy Rate Hike Amidst Inflation Targeting Framework

The Evolution of Inflation Targeting in India

Introduction: Recently, the Indian central bank surprised the market by pausing its consecutive rate hikes despite inflation still beyond tolerance levels and downside risks from global economic activity. This edition of the burning issue will talk about this hike pause and the mechanism of inflation targeting.

Phase One: Non-Statutory Inflation Control By RBI

• Non-statutory mechanism included changes in policy rates such as cash reserve ratio and statutory liquidity ratio to maintain inflation.
• Limitations included lack of transparency in decision-making and uncertainty in the market about rates and inflation.

Phase Two: The MPC and The Beginning of the Inflation Targeting Era

• Monetary policy committee (MPC) was formed under Section 45ZB of the amended (in 2016) RBI Act, 1934.
• Six-member committee decides key policy rates.
• The primary objective is to maintain price stability while keeping in mind the objective of growth.
• The MPC determines the Policy Rate required to achieve the inflation target.

Monetary Policy Committee (MPC) and Inflation Targeting in India

I. Monetary Policy Committee (MPC)

• Definition: The central bank’s policy about the use of monetary instruments to achieve specific goals
• Committee formation: Six-member committee under Section 45ZB of the amended RBI Act, 1934
• Primary objective: Maintain price stability while considering growth
• Key policy rates decision-making: MPC’s responsibility
• Objective: Determine the Policy Rate required to achieve the inflation target
• Flexible Inflation Targeting Framework: Implemented in India after the 2016 amendment to the RBI Act

II. Inflation Targeting

• Definition: Central banking policy for adjusting monetary policy to achieve a specified annual rate of inflation
• First adopted by New Zealand, followed by 33 other countries
• India adopted in 2016
• The amended RBI Act, 1934 provided for the inflation target (4% +-2%) set by the Government of India in consultation with the RBI every five years.

RBI’s Stances under Inflation Targeting

I. Introduction

• The Reserve Bank of India (RBI) uses inflation targeting as its primary monetary policy framework.
• The RBI’s monetary policy stance is reflected in its repo rate, which is the rate at which commercial banks can borrow from the central bank.

II. Accommodative Stance

• The central bank is willing to expand the money supply to boost economic growth.
• During an accommodative policy period, the central bank is willing to cut interest rates, ruling out a rate hike.

III. Neutral Stance

• The central bank can either cut or increase the interest rate.
• This stance is adopted when policy priority is equal on both inflation and growth.

IV. Hawkish Stance

• The central bank’s top priority is to keep inflation low.
• During a hawkish phase, the central bank is willing to hike interest rates to curb the money supply and reduce demand.

Link between Inflation and Rate Hikes

• Commercial banks borrow money from the central bank, which is repaid according to the repo rate.
• The central bank provides short-term loans against securities to control inflation or increase bank liquidity.
• The government increases the repo rate to control prices and restrict borrowing.
• An increase in the repo rate means commercial banks have to pay more interest, affecting public borrowings such as home loans and EMIs.
• Various financial and investment instruments are indirectly dependent on the repo rate.

Why RBI hiked rates previously?

• Global economic volatility due to the Ukraine war since March 2022 and supply chain disruptions for several items.
• Record high inflation throughout a major period during 2022 has prompted the RBI to make multiple policy rate hikes.
• The RBI has raised the repo rate by 250 basis points (bps) since May 2022, thereby increasing the External Benchmark Linked Interest Rates, EBLR by 250 bps.
• Banks have also raised the lending rate linked to the marginal cost of funds-based lending rate (MCLR) in the past 11 months.
• Last year, the Consumer price index (CPI) hit its highest of 7.79% in Apr, and the wholesale price index (WPI) reached 15.88% in May 2022.

Why RBI has now paused hikes?

• Decreasing inflation: The country’s retail inflation, which is measured by the Consumer price index (CPI), slipped to a 16-month low of 5.66% in Mar. 2023.
• Inflation data on the Wholesale Price Index (WPI), which calculates the overall prices of goods before selling at retail prices, was at 3.85% in Feb. 2023.
• May slow down growth and consumption: Concerns over slowing consumption and tepid private investment have been emerging in policy quarters, with many seeing high-interest rates as a crucial factor in dampening demand.
• Decrease in crude prices: Also, there has been a decrease in global crude prices and food inflation.
• Still risks are there: The RBI underlined risks from protracted geopolitical tensions, tight global financial conditions, and global financial market volatility to its monetary policy outlook.

Will this pause be helpful or not?

• Yes: The pause by the RBI will help favor the growth-inflation tradeoff towards the former.
• An increase in EMIs for different types of loans will also halt helping the middle class cope with inflation.
• No: Rates to remain high in the backdrop of many global agencies lowering India’s growth forecasts for this financial year amid expectations of global economic slowdown and monetary tightening by other countries.
• No relief on debts: The interest rates of debts are already high and a pause on a hike will not bring down these interest rates and thus keep the debt costlier.

Effectiveness of Inflation Targeting

Successes

• Average inflation has declined: The average inflation rate measured through the GDP deflator has declined significantly in the inflation targeting regime.
• The average inflation, which was 5.69 percent five years in the pre-inflation targeting period, has declined to 3.47 percent in the last five years.
• CPI declined: Consumer Price Index inflation declined from 8.26 percent during the 2011-2015 period to 4.99 percent in 2016-2019, a 3.27 percentage point fall.
• Enhanced transparency: Monetary policy transparency in India has improved after the adoption of the inflation-targeting framework.

Failures

• Sole focus of inflation: However, some critics of inflation targeting feel that its sole focus on price stability ignores growth imperatives.
• Not much effective in India: In India, the agricultural sector and informal economy have a large share, which is not directly impacted by such rate hikes, thus rendering the hikes less effective.

Way forward

• The review committee should try to find out areas of further improvement in the monetary policy framework which will strengthen the MPC to achieve the inflation target.
• In the present framework, it is not clear which model the RBI uses to forecast inflation and GDP figures, so it should disclose the models used in forecasting as other inflation-targeting countries do.
• Further, the RBI may include a forecast of core inflation in the minutes.

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“Revolutionizing the Zojila Tunnel: Transforming Transportation Infrastructure”

The Zojila tunnel is a major infrastructure project that is being constructed to improve connectivity in the region and establish all-weather connectivity between the Union Territories of Ladakh and Jammu and Kashmir.

 Here are some detailed points about the project:

1. The Zojila tunnel will be India’s longest road tunnel and is expected to be Asia’s longest bi-directional tunnel, boasting a length of 14.15 km.
2. The tunnel is being constructed in the Zojila Ghats, which is a high mountain pass between Sonmarg and Kargil. As part of the project, a connecting tunnel from Z-Morh on NH1 to the Zojila tunnel will also be built.
3. The project involves the development and expansion of the 18.475-km highway between Z-Morh to Zojila. A 3-km stretch will be expanded, while the rest will be newly developed. The highway will have two twin-tube tunnels, five bridges, and two snow galleries.
4. The work on the entire 33-km span is spread between two union territories – Jammu and Kashmir; and Ladakh.
5. The tunnel is being built at a cost of more than Rs 4,600 crore and is expected to be completed by December 2023.

The Zojila tunnel is much needed because:

1. Currently, the commute between Srinagar and Leh, the largest city in Ladakh, takes over 10 hours on a good day and passes through extremely inhospitable terrain.
2. The Zojila Pass is a high mountain pass through which one has to travel to make the journey.
3. During harsh winters, this route is closed due to fears of avalanches, landslides, and slippery roads, with areas beyond the pass cut off from the rest of the country for at least five months.
4. With the Zojila pass shut, air connectivity is the only option, and airfares can skyrocket to over Rs 40,000 during peak winter months.
5. The upcoming Zojila tunnel will provide perennial connectivity between Ladakh and the rest of the country.
6. This will not just benefit civilians living and employed in the region but also the military, by expediting the movement of troops and supplies in this vitally important strategic region.

Overall, the Zojila tunnel is a crucial project that will not only improve connectivity but also promote economic development and strategic security in the region.

NSO Reports: Industrial Output in India Surges by 5.6% in February

• India’s industrial output grew by 5.6 per cent in February, as per the Index of Industrial Production (IIP).
• Mining output rose 4.6 per cent and power generation surged 8.2 per cent during the month under review.
• Factory output measured in terms of the IIP grew 1.2 per cent in February 2022.
• IIP growth for the first 11 months of 2022-23 was 5.5 per cent, down from 12.5 per cent in the corresponding period of 2021-22.
• India’s retail inflation declined to 5.66 per cent in March, with rural inflation at 5.51 per cent and urban inflation at 5.89 per cent.
• The manufacturing sector’s output rose by 5.3 per cent in February as against 4 per cent in January, outweighing the impact of a fall in growth rates seen in electricity and mining.
• The output of consumer non-durables rose by 12.1 per cent in February as against an increase of 6.3 per cent in January.
• The Quick Estimates of Index of IIP with base 2011-12 stands at 138.7 for the month of February 2023.