Current Affairs 10-NOV-2023 (The Hindu)

Inflation

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Inflation

Inflation is the increase in the price of goods and services, leading to a decrease in the purchasing power of money as the value of goods and services rises.

Inflation Rate

The inflation rate is the rate at which prices have been rising. Two commonly used indices to measure inflation are the Consumer Price Index (CPI) and the Wholesale Price Index (WPI).

Consumer Price Index (CPI)

• Refers to inflation at the retail market.
• Published by the Ministry of Statistics and Program Implementation (MoSPI), specifically the National Statistical Office (NSO).
• Calculation involves the increase in the price of a basket of goods, including categories like food and beverages, clothing and footwear, housing, etc.
• Highest weightage is given to food and beverages.

Wholesale Price Index (WPI)

• Reflects inflation at the wholesale market.
• Published by the Ministry of Commerce and Industry, specifically the Department for Promotion of Industry and Internal Trade (DPIIT).
• Calculation involves the increase in the price of a basket of goods, including categories like fuel and power and manufactured products.
• Highest weightage is given to manufactured products.

Other Aspects

• Base year for calculations: 2011-12.
• Released on a monthly basis.
• Changes in prices of services are considered in CPI but not in WPI.

Previous Year Prelims Question – 2020

Q. Consider the following statements:

1. The weightage of food in CPI is higher than that in WPI.

2. The WPI does not capture changes in the prices of services, which CPI does.

3. Reserve Bank of India has now adopted WPI as its key measure of inflation and to decide on changing the key policy rates.

Which of the statements given above is/are correct?

a) 1 and 2 only

b) 2 only

c) 3 only

d) 1, 2 and 3

2+2 Dialogue

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2+2 Dialogue

The 2+2 Dialogue is a diplomatic and strategic meeting between defense and foreign affairs officials of two countries. It serves as a platform to discuss various bilateral, regional, and global issues, with the primary goal of enhancing strategic communication.

Key Agreements

LEMOA (2016)

The Logistics Exchange Memorandum of Agreement (LEMOA) was signed in 2016, facilitating the reciprocal provision of logistical support, supplies, and services between the two countries' armed forces during authorized port visits, joint exercises, and humanitarian assistance.

COMCASA (2018)

The Communications Compatibility and Security Agreement (COMCASA) was signed in 2018. It enables secure communication and the exchange of real-time operational information between the armed forces of the two countries, enhancing interoperability during joint military activities.

BECA (2020)

The Basic Exchange and Cooperation Agreement for Geo-Spatial Cooperation (BECA) was signed in 2020. It facilitates the exchange of geospatial information and enhances the accuracy of GPS, navigation, and targeting capabilities during joint military operations.

2+2 Dialogue - 2023

The 2+2 Dialogue in 2023 is expected to continue the discussions on strengthening diplomatic ties, addressing security challenges, and exploring opportunities for collaboration in defense and foreign affairs between the two participating countries.

Practice Question - Prelims

Q. What is the primary focus of the Basic Exchange and Cooperation Agreement (BECA), often seen in international news?

(a) Economic cooperation between nations

(b) Cultural exchange programs

(c) Defense and security collaboration

(d) Climate change mitigation strategies

Central Bureau of Investigation (CBI)

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CBI

• 1941 - Special Police Establishment (SPE) in Department of War, British India.
• Purpose: Enquire allegations of bribery & corruption in war-related procurements.
• Recommendation of Santhanam Committee on Prevention of Corruption (1962-1964).
• Delhi Special Police Establishment (DSPE) Act, 1946 enacted.
• CBI - investigate allegations of corruption in various wings of the Government.
• Under Dept. of Personnel - Ministry of Personnel, Pension & Public Grievances, GOI.
• Assistance to the Central Vigilance Commission and Lokpal.
• Nodal police agency for Interpol investigations.

Independence of CBI

• Dependent on the home ministry for staffing.
• Relies on the ministry of law for lawyers.
• CBI, being a police agency, needs the consent of the State government before it can make its presence in that State.
• Administrative and financial control rests with the ministry of personnel.

Types of Cases Handled by CBI

Practice Question – Prelims

Who among the following is consulted on the appointment of the Director of CBI?

1. Prime Minister of India

2. Chief Justice of India

3. Union Home Minister

4. President of India

Choose the correct statements using the codes given below.

a) 1 and 3 only

b) 2 and 3 only

c) 1 and 4 only

d) 1 and 2 only