UPSC Daily Current Affairs- 13th June 2024 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly PDF Download

GS-III/Environment and Ecology

High Seas Biodiversity Treaty 

Source: Down to Earth

Why in News?

Grethel Aguilar, the director general of the International Union for Conservation of Nature (IUCN), urged countries worldwide “to strive for a fully functional High Seas Biodiversity Treaty”.

Background:-

• The high seas are those areas of the world’s oceans that are outside national jurisdictions. They constitute a huge chunk of the world’s oceans and are home to a wide variety of biodiversity.

About HIGH SEAS BIODIVERSITY TREATY

• The United Nations agreement on biodiversity beyond national jurisdiction or BBNJ Agreement, also referred to by some stakeholders as the High Seas Treaty or Global Ocean Treaty, is a legally binding instrument for the conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction.
• It is an agreement under the United Nations Convention on the Law of the Sea (UNCLOS). The text was finalised during an intergovernmental conference at the UN on 4 March 2023 and adopted on 19 June 2023

Here are some key points about the treaty:

GS-III/Economy

Sticky Inflation

Source: Indian Express

Why in News?

RBI in its recent monetary policy review decided to retain the repo rate, for eighth time in a row, due to concerns of sticky inflation.

Background:

• Therepo rate is the interest rate at which the RBI lends money to commercial banks. When RBI wants to incentivise economic activity in the broader economy, it reduces the repo rate, which makes it cheaper for banks to borrow from it and lend onwards to customers. When it wants to disincentivise economic activity, it raises the repo rate, which makes it costly for everyone in the economy to borrow money.

Key Takeaways on Sticky Inflation and RBI's Interest Rate Decisions

Sticky Inflation

• Definition: Sticky inflation occurs when prices do not adjust quickly to changes in supply and demand, leading to persistent inflation.
• Impact: Persistent inflation can occur even if the economy is below its potential level.
• Central Bank Challenge: Central banks find it difficult to control inflation when it is sticky.
• Economic Implications: Persistently high inflation necessitates the RBI to maintain or raise interest rates, potentially harming India's economic growth.
• Tradeoff: There is a constant balance between maintaining price stability (containing inflation) and boosting growth (creating jobs and reducing unemployment).

Why is the RBI Not Cutting Interest Rates?

• Current Inflation Trend: Retail inflation has been approaching the 4% mark, within the RBI's comfort zone of 2%-6% since September 2023.
• Repo Rate Stability: The RBI has not changed the repo rate since February 2023 despite the declining inflation rate.

Four Reasons for Maintaining High Repo Rates

1. Gradual Decline in Inflation: Retail inflation has not dropped to 4% since January 2021, and its decline has been gradual. The RBI is concerned about the stickiness of inflation.
2. Sustainable Inflation Rate: The RBI needs to be convinced that the inflation rate will remain around 4% sustainably before cutting the repo rate. The predicted fall in inflation is expected to be temporary.
3. Strong Economic Growth: India's GDP growth rate has been robust over the past year. The high repo rate is not perceived as a hindrance to economic growth.
4. Fiscal Policy Considerations: The forthcoming Union Budget and potential political influences on the fiscal deficit may impact the RBI's decision. A higher fiscal deficit could affect inflation and interest rates.

By maintaining high interest rates, the RBI aims to manage inflation sustainably while considering economic growth and fiscal policies.

GS-III/Science and Technology

CRISPR-CAS9

Source: Science Daily

Why in News?

Researchers recently used CRISPR-Cas9 to alter photosynthesis for the first time.

Background on Gene-Editing and CRISPR-Cas9

Unbiased Gene-Editing Approach

• Innovation: First use of an unbiased gene-editing approach to increase gene expression and improve photosynthetic activity.

CRISPR-Cas9 Overview

• Function: CRISPR-Cas9 is a gene-editing technology that can remove, add, or alter sections of the DNA sequence of a specific gene.
• Origin: Developed from a similar system in bacteria that helps them respond to invading pathogens like viruses.

Components of CRISPR-Cas9

1. Cas9 Enzyme:
   • Acts as 'molecular scissors' that cut the DNA strands at specific locations in the genome.
   • Enables the addition or removal of DNA bits.
2. Guide RNA (gRNA):
   • Consists of a pre-designed RNA sequence (about 20 bases long) within a longer RNA scaffold.
   • The scaffold binds to DNA, and the pre-designed sequence guides Cas9 to the correct part of the genome.
   • Designed to locate and bind to a specific DNA sequence.

Mechanism

• Binding and Cutting:
  • The guide RNA binds to a specific DNA sequence.
  • Cas9 follows the guide RNA to this location and cuts both DNA strands.
• DNA Repair:
  • Researchers use the cell’s DNA repair machinery to add, delete, or replace DNA segments with customized sequences.

Potential Applications

• Medical Treatments: CRISPR-Cas9 has potential for treating various genetic conditions, including:
  • Cancer
  • Hepatitis B
  • High cholesterol

GS-II/Polity and Governance

LGBTQIA+ IN INDIA

Source: The Indian Express

Why in News?

The Supreme Court has cautioned judges against using the court-ordered counselling of members of the LGBTQ+ community as a way to turn them against their own identity and sexual orientation. In such cases, they are often in distress or have been separated from their partners by their own relatives, it observed.

GS-III/Environment and Ecology

Microalgae

Source: The Hindu

Why in News?

CSIR-Indian Institute of Chemical Technology (IICT) scientists have spotlighted the potential of Chlorella Growth Factor (CGF), a protein-rich extract derived from the microalgae ‘Chlorella sorokiniana’, as an ideal ingredient for a wide range of food and feed applications.

Nagarahole Tiger Reserve

Source: Indian Express

Why in News?

An elephant that was part of the historic Mysuru Dasara celebrations died of electrocution near Karnataka’s Nagarahole Tiger Reserve recently.

About Nagarahole Tiger Reserve: