Today's Brief 29/08/2024
- Smriti IASxp
- Aug 30, 2024
- 5 min read
Youtube Hindi: https://youtu.be/j1Awl97nl6A?si=8Wb3b4Ga8fbBb_ga
Youtube English:https://youtu.be/FC8QU35xh6k?si=cckQbiX6boNE6PGO
K Shaped Economy: is a term used to describe an economic recovery that occurs unevenly across different sectors, industries, or groups within a country. In a K-shaped recovery, some segments of the economy or population experience growth and prosperity (the upward stroke of the "K"), while others continue to struggle or decline (the downward stroke of the "K").
Key Points:
Divergence in Recovery:
The K-shaped recovery highlights the disparity between different sectors or social groups. For example, during the COVID-19 pandemic, technology and online service industries thrived, while sectors like hospitality, retail, and travel suffered.
Higher-income individuals or groups may see their wealth and income increase, while lower-income groups may face worsening financial conditions.
Impact on Inequality:
The K-shaped recovery can exacerbate economic inequality. Wealthier individuals or sectors may recover quickly, while poorer individuals or struggling sectors lag behind, deepening the divide.
This type of recovery raises concerns about long-term social and economic stability, as the benefits of economic growth are not evenly distributed.
Policy Implications:
Policymakers may need to implement targeted interventions to address the disparities created by a K-shaped recovery. This could involve support for struggling sectors, job creation programs, or social safety nets to help those most affected.
Without appropriate measures, the uneven recovery could lead to increased social unrest and economic challenges in the long term.
The term "K-shaped economy" gained prominence during discussions about the global economic recovery following the COVID-19 pandemic, but it can be applied to any situation where economic outcomes diverge significantly across different groups.
2. Money Laundering: Money laundering is the process of concealing the origins of money obtained through illegal activities, making it appear as if it was obtained from legitimate sources.
The goal is to integrate the "dirty" money into the legal financial system without attracting the attention of law enforcement or tax authorities.
Key Steps in Money Laundering:
Placement:
The first stage involves introducing the illegal money into the financial system. This could be done by depositing cash into a bank, purchasing assets like real estate or luxury items, or using the money in small amounts to avoid detection.
Layering:
In this stage, the launderer tries to obscure the origin of the money through a series of complex financial transactions. This might include moving the money through multiple bank accounts, shell companies, offshore accounts, or purchasing and selling assets. The goal is to create a confusing paper trail that makes it difficult to trace the money back to its illegal source.
Integration:
The final stage is when the money is fully integrated into the legitimate economy. At this point, the money appears to be legally earned, and the launderer can use it without raising suspicion. This might involve investing in businesses, purchasing real estate, or any other legitimate economic activities.
Common Techniques Used in Money Laundering:
Smurfing: Breaking down large amounts of money into smaller, less suspicious amounts to deposit into banks or financial institutions.
Shell Companies: Using companies that exist only on paper to conduct transactions that obscure the money's origin.
Offshore Accounts: Moving money to banks in countries with strict banking secrecy laws.
Trade-Based Laundering: Manipulating invoices and trade transactions to disguise the illicit origins of money.
Legal Consequences:
Money laundering is a serious crime in many countries and is often associated with other criminal activities like drug trafficking, terrorism, and tax evasion.
Governments and international organizations have implemented various laws and regulations to combat money laundering, such as the Anti-Money
Laundering (AML) regulations, and financial institutions are required to report suspicious activities.
Money laundering is often pursued by law enforcement agencies like the Central Bureau of Investigation (CBI) & Enforcement Directorate (ED) in India or the Federal Bureau of Investigation (FBI) in the United States.
3.INS Arighaat: The Arihant class submarines are named after a Sanskrit word meaning the “Destroyer of the Enemy”. The name befits the strategic significance of a nuclear-powered submarine. The name "Arihant" was chosen from a wide range of choices and received approval on all fronts due to its suitability and subtlety in expressing the commitment.
Made by the Shipbuilding Centre (SBC), Visakhapatnam, INS Arighaat, an upgraded version of INS Arihant, can travel at a maximum speed of up to 24 knots (44 km/h) when submerged and 12–15 knots (22–28 km/h) on a surface level. It shares the same hump as the INS Arihant and has four launch tubes.
It can carry twelve K-15 SLBMs with a range of about 750 kilometres, or up to four nuclear-armed K-4 SLBMs with a range of over 3,500 kilometres.
INS Arighaat has an advantage over conventional submarines, like its predecessor INS Arihant. It is propelled by 83 MW pressurised light-water reactors and can remain submerged for extended periods.
The Indian government has been planning to construct nuclear and conventional boats to acquire and develop its long-term submarine acquisition and capabilities plan. In addition to the six nuclear attack submarines that will be constructed in three blocks, India is working on five Arihant class boats.
Six new Kalvari class boats have already been delivered to the Indian Navy and 15 more are scheduled to be delivered as part of Projects 75 AS, 76, and 75 India.
4.Plant4Mother: plantation of trees is central to the theme of World Environment Day 2024 namely halting and reversing Land Degradation, building Drought Resilience and Preventing Desertification. Besides the campaign on #एक_पेड़_माँ_के_नाम #Plant4Mother, plantation of 80 crore trees by September and 140 crores by March, 2025 has been planned following a “Whole of Government” and “Whole of Society Approach”.
The trees would be planted across the country by individuals, entities, community based organizations, Central and State Government Departments and local bodies.
Places in News
Chile: Chile is a long, narrow country located along the western edge of South America, stretching approximately 4,300 kilometers (2,670 miles) from north to south. Bordered by the Pacific Ocean to the west and the Andes Mountains to the east, Chile boasts a diverse landscape that includes deserts, mountains, forests, valleys, and a vast coastline.
Geography and Climate
Atacama Desert: In the north lies the Atacama Desert, one of the driest places on Earth, known for its unique landscapes, salt flats, and geysers.
Central Chile: This region features a Mediterranean climate and is home to the majority of the population, including the capital city, Santiago. It's also the country's agricultural heartland, famous for wine production.
Southern Chile: Characterized by lush forests, lakes, and fjords, this area leads down to the rugged and remote region of Patagonia, shared with Argentina, known for its glaciers and national parks like Torres del Paine.
Easter Island (Rapa Nui): A remote island territory famous for its mysterious moai statues and rich Polynesian culture.
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