Daily Current Affairs Quiz: January 27, 2024

Notes:
The RBI’s “Finances of Panchayati Raj Institutions (PRIs)” report analyzes data from 2.58 lakh Panchayats for 2020-21 to 2022-23, highlighting key findings. Panchayats heavily rely on grants (95%) due to limited own revenue sources like property taxes. Inter-state variations in devolution impact socio-economic outcomes. Inconsistent data poses challenges in assessing fiscal health. PRIs struggle with local tax revenue generation due to a limited tax base, administrative issues, and unclear guidelines. Revenue sources include Central and State government grants, and PRIs have the authority to impose taxes and fees.

Notes:
Union Home Minister Amit Shah addressed the 5th International and 44th All India Criminology Conference at the National Forensic Science University in Gandhinagar, Gujarat. The conference focused on Forensic Behavioural Science, an emerging field highlighted by Shah. Emphasizing the role of Behavioral Science in crime prevention, he inaugurated a Digital Forensic Excellence Centre for capacity building and investigations, underscoring its importance alongside a robust administration and judiciary.

Notes:
India recently overtook Hong Kong as the world’s fourth-largest equity market, boasting a total market value of $4.33 trillion, surpassing Hong Kong’s $4.29 trillion. The leading global stock markets are currently the U.S., China, and Japan. This milestone underscores India’s rising prominence in the global financial arena, propelled by a robust GDP, political stability, foreign investments, and its appeal as an alternative to China. Meanwhile, Hong Kong grapples with challenges like COVID-19 restrictions, regulatory crackdowns, a property crisis, and geopolitical tensions, affecting its attractiveness to investors.

Notes:
Punjab and West Bengal have challenged the central government’s decision to expand the Border Security Force’s (BSF) operational jurisdiction from 15 km to 50 km. They argue that this move violates federal principles and encroaches on state law and order powers. The BSF, established in 1965 after the India-Pakistan war, is a vital part of India’s security apparatus, operating under the Ministry of Home Affairs. It has over 2 lakhs personnel and is primarily deployed along the borders with Pakistan and Bangladesh, including the Indo-Pakistan International Border and Indo-Bangladesh International Border.

Notes:
The zombie virus is related to global warming and the thawing of Arctic permafrost. The rising temperatures caused by global warming have led to the thawing of previously frozen ice, which could unleash “zombie viruses”. The zombie virus is an amoeba virus that scientists have revived from the melted ice. The new strain has one of 13 viral genomes, with Pandoravirus yedoma, 48,500 years old, being the longest frozen virus to become infectious. Scientists are developing an Arctic surveillance system to detect and contain outbreaks.