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Monthly DNA
11 Jul, 2022
24 Min Read
Gotabaya Rajapaksa has agreed to step down as the President of the island nation, following a huge protest by the people.
His regime is facing crises has four interconnected dimensions: economic, governance, social, and legitimacy.
People are living through harrowing economic collapse, with accessing essentials such as fuel, food, and medicine becoming an everyday battle.
Poor Decisions By The President Rajapaksa
Why is Sri Lanka suffering from a crisis?
the Sri Lankan government declared officially that the country was hit by the worst economic crisis in January 2021, it is facing an unprecedented crisis due to economic mismanagement, corruption, and an agricultural crisis.
1: right to seize food stock designated as a staple food
2: help set the price of staple food
3: help in rationing food
Factors that triggered an economic crisis
How have these crises affected Indo-Sri Lankan relations?
The current crisis has given a new dimension to the Indian- Sri Lanka relationship.
Way forward
Source: The Hindu
Current issue
What is Section 69A of the IT Act?
Other related law
Thus, the rules impacting the fundamental rights must be equipped with proper accountability with proper parliamentary or judicial oversight to check the misuse of the section by the government.
Source: The Hindu
Recently, there has been a fall in the rupee’s exchange rate (nearing 80 to a US Dollar), as well as a fall in the forex reserves. The relationship between the forex reserve and rupee exchange rate is:
Rupee’s exchange rate:
Impacts:
[The basket of Indian imports includes crude oil, coal, plastic material, chemicals, electronic goods, vegetable oil, fertilizer, machinery, gold, pearls, precious and semi-precious stones, and iron and steel]
Relationship between Forex Reserves & Exchange Rate:
When the RBI buys the dollars, they become India’s forex reserve.
This exchange reduces the presence of dollars and increases the presence of the rupee in the forex market, thus holding back the rupee from becoming stronger against the dollar.
One of the key reasons why RBI intervenes in the forex market is to smoothen the volatility of the exchange rate.
Source: The Indian Express
Neeraj Chopra Sets New Javelin Throw National Record Of 89.94m With a throw of 89.94m at the Diamond League, Neeraj Chopra (24 years) broke his own national record of 89.30m that he set at the Paavo Nurmi Games in Turku earlier this month. He finishes second just behind the World cham
NOMINATION TO RAJYA SABHA Recently, the Central Government nominated 4 members to the Rajya Sabha. Soon, the Legislative Assemblies of 4 states will also elect 16 MPs to Rajya Sabha. Nominated member The four new nominated members in the Rajya Sabha are: Track and field icon -Pt Usha
FIELD MEDEL 2022 Recently, Ukrainian mathematician Maryna Viazovska along with the other three mathematicians received the prestigious Fields Medals. Fields medal is often described as the Nobel Prize
MISSION VATSALYA The Women and Child Development Ministry released guidelines to access central funds and benefits under Mission Vatsalya. About Mission Vatsalya It is the main scheme for child protection services in the country. The goal of Mission V
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