Editorials/Opinions Analysis For UPSC 23 August 2022
Contents
- CBDC: The ‘digital rupee’
- Increasing Cloudburst Incidents in India
CBDC: The ‘Digital Rupee’
Context
- According to reports, the Reserve Bank of India’s (RBI) digital rupee — the Central Bank Digital Currency (CBDC) — could be introduced in stages, starting with wholesale businesses in the current fiscal year.
- Finance Minister Nirmala Sitharaman stated in her Budget speech on February 1 that the CBDC would be launched in fiscal year 2022-23. The Reserve Bank of India (RBI), which has repeatedly expressed its opposition to private digital currencies, proposed to the government in October last year to broaden the scope of the paper rupee to include digital currency.
Relevance
GS Paper: 3- Indian Economy and issues relating to planning, mobilisation of resources, growth, development and employment.
Mains Question
What is Central Bank Digital Currency (CBDC)? What will the introduction of the digital rupee change for citizens? (150 Words)
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Increasing Cloudburst Incidents in India
Context
Over the last three days, cloudbursts and flash floods have killed over 20 people in various parts of Himachal Pradesh and Uttarakhand.
Relevance
GS Paper 1:Important Geophysical phenomena such as earthquakes, tsunamis, Volcanic activity, cyclones etc.
Mains Question
Discuss the measures to prevent and mitigate the devastating effects of cloudbursts, highlighting the causes and consequences of cloudbursts. (250 Words)
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