UPSC QUIZ 26.04.2024

Explanation

• Recently Stockholm International Peace Research Institute released the latest report on global military expenditure.
• According to a Stockholm International Peace Research Institute (SIPRI) report published on 22 April 2024 ,India was the fourth largest military spender in the world in 2023 after the United States ,China and Russia.
• The Indian expenditure on military 2023 was $83.6 billion .In 2022 also India was the fourth largest military spender in the world.

Increase in Indian military expenditure

• The Indian government has increased its military spend in recent years . In the interim Union Budget of 2024-25 the government of India allocated Rs 6.21 lakh crore for defence spending. The allocation was marginally lower (0.37%) than last year’s revised estimates.
• The 2024-25 allocation for defence accounts for 1.89% of India's GDP.

Explanation

• The Karnataka High Court upheld the state government’s ban on hookahs as being in the interest of the general public, and ruled that hookah bars were an illegal “service” under India’s anti-tobacco law.

Government's side

• Regarding banning hookah in the state, the government argued that according to Article 47 of the Constitution, it is the duty of the state to "raise the level of nutrition and the standard of living and to improve public health".
• Therefore, the State Government can, in compliance with the Constitution, impose "a ban on the consumption of intoxicating drinks and drugs injurious to health except for medicinal purposes".

Explanation

• International Monetary Fund has released its latest Global Financial Stability Report, warning of risks to the global financial system from persistently high inflation, rising lending in unregulated credit markets and increasing cyber attacks on financial institutions.

Inflation related issues

• IMF According to , investors have been driving up the prices of financial assets such as stocks in recent months due to fears that central banks will lower interest rates.
• Normally when inflation decreases, central banks attempt to lower interest rates by investing more in the economy in an effort to promote economic growth.
• Although central banks have not yet lowered interest rates, investors are viewing declining inflation as a sign that central banks will soon bring more money into the markets to lower interest rates.
• IMF It warned that geopolitical risks such as the ongoing war in West Asia and Ukraine could push prices higher as aggregate supply is affected.

Explanation

• Renowned industrialist Tata Group Chairman Ratan Tata was honoured with the prestigious KISS Humanitarian Award 2021. For this, a felicitation ceremony was organized at his personal residence in Mumbai on 22 April 2024.

Honoured for social development and exemplary corporate leadership

• In this felicitation ceremony, he was honoured by educationist Prof. Achyuta Samanta, founder of KIIT & KISS and Kandhamal Lok Sabha MP. This is an important recognition of his commitment towards social development and exemplary corporate leadership.

Explanation

• First Rainbow International Tourism Conference held in Kathmandu, Nepal.
• It was organised by civil society organisation, Mayako Pahichan, in collaboration with Nepal Tourism Board.
• Chief Guest of the event was Bhagawati Chaudhary, Minister of Women, Children and senior citizen.
• He inaugurated the event along with Sunil Babu Pant, first openly gay Member of Parliament in Asia.
• LGBTQ participants and experts spoke on pink tourism.
• They also spoke on making tourism sector inclusive to boost economy of any country.
• LGBT travelers globally spend USD 202 billion. This can be tapped by countries to make their tourism industry LGBTQ friendly.
• In a historic ruling in 2007, the Supreme Court of Nepal ordered the government to repeal all laws that discriminated against the third gender and create legislation that acknowledged their status.
• An interim order from June 2023 made it possible for same-sex marriages to be legally registered in Nepal.
• EU Ambassador in Nepal Veronique Lorenzo said that Nepal being LGBTQ friendly country can attract more tourists.