Current Affairs - 2019-20

Notes:
Karnataka won the 2019-20 Vijay Hazare Trophy.

Notes:
Tapan Ray, the 1982 batch Gujarat cadre IAS officer and currently the corporate affairs secretary, has taken additional charge as the new Economic Affairs Secretary. He succeeded Shaktikanta Das, who retired on May 31, 2017 after serving the government for 37 years in various capacities.

Notes:
The 56th Liberation Day of Goa was celebrated with great pomp & show in Panaji on December 19, 2017. Several programmes and events have been organised to mark the occasion. The state was liberated on this day in 1961 from Portuguese control after almost 450 years of colonial rule. The armed action “code name – Operation Vijay” was carried out by the Indian Armed Forces in December 1961. The operation involved air, sea and land strikes for over 36 hours, and was a decisive victory for the Republic of India that ended 451 years of rule of Portugal over its remaining exclaves in India. The engagement lasted two days resulting in twenty-two Indians and thirty Portuguese killed in the fighting. The brief conflict drew a mixture of worldwide praise and condemnation.

Notes:
The Hypersonic Flight Experiment, or HEX, was the first test-flight in the RLV Technology Demonstration Programme. The RLV-TD vehicle was launched from the first launchpad of Satish Dhawan Space Centre on 23 May 2016.

Notes:
Non-Tariff Trade Barriers (NTBs) are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs. These barriers include- Import quotas, subsidies, customs delays, technical barriers, or other systems for preventing or impeding trade like import licensing, pre shipment inspections and rules for valuation of goods at customs. The term “neo-protectionism” has been recently making news due to emerging wave of neo-protectionism in USA. Recently, Indiana state has just cancelled a $ 15 million software contract awarded to Tata Constancy Services and shifted it to a local company to keep jobs in the state. Various curbs on outsourcing activities and visas for Indians are being considered in 9 other states. Imports quotas imposed on Chinese textile exports. The USA continues to subsidise its farmers, depressing the price of commodities for Third World exporter. This sudden change in American attitudes to trade may lead to trade restriction in world trade and impose serious threat to Indian economy.

Notes:
The Bureau of Energy Efficiency (BEE) has introduced a new star rating methodology called Indian Seasonal Energy Efficiency Ratio (ISEER) for air conditioners. Keeping the performance of air conditioners during higher temperature in mind, ISEER will address the different climatic zones in India and higher temperature. ISEER measures energy efficiency of air conditioners based on a weighted average of the performance at outside temperatures between 24 and 43 degree C based on Indian weather data.

Notes:
The Triffin dilemma, or Triffin paradox, is the idea that a national currency can create conflicts between short-term domestic and long-term international economic goals. The dilemma arises when a national currency also serves as an international reserve currency.
The dilemma was discovered in the 1960s by Belgian economist Robert Triffin. He argued that domestic and international policy goals don’t usually match. For example, if the United States stopped running balance of payments deficits, the international community would lose its largest source of reserves. This could cause a shortage of liquidity, which could lead to instability.
The dilemma points to the conflicts that can arise when a national currency plays a role as an international public good. The global reserve currency issuer issues the safest and most widely used global currency. Domestic monetary policy can have unintended consequences for both the domestic and global economies.

Notes:
The World Economic Situation and Prospects 2017 (WESP) has been published by the United Nations Department of Economic and Social Affairs.

Notes:
Sathyabamasat is a micro experimental satellite developed by students and faculty of Sathyabama University, a private university of Chennai. It aims to collect data on greenhouse gases. It was launched on June 22^nd, 2016.

Notes:
Express Wi-Fi is an initiative of Facebook in India. It is live in India and it empowers local entrepreneurs to help provide quality Internet access to their neighbours and make a steady income with the help of internet service providers and local entrepreneurs to help expand connectivity to underserved locations around the world.