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GS Analyst: Daily Current Affairs

6th May 2022 (6 Topics)
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6th May 2022

QUIZ - 6th May 2022

5 Questions

5 Minutes

Mains Question:

Q1. Discuss the major gaps that hinders the government in responding to cybercrime incidents. Also suggest solution to tackle these challenges. (150 words)

Approach

  • Introduction- increasing cybercrime in India
  • Challenges faced by government
  • Important government regulation
  • Required measures
  • Conclude accordingly

Editorials

Watch the gap
Economy

Official data on India’s merchandise trade for April give reason for cheer at first glance. Emerging from a record export performance during the just­concluded financial year, outward shipments for the month rose 24.2% from a year earlier, with electronics and chemicals showing healthy expansion, while petroleum products more than doubled. However, imports continued to outpace exports, growing by 26.6% to broaden the goods trade deficit, which widened to $20.07 billion from $18.5 billion in March.

Reason for trade deficit

  • Import bill dominated by petroleum- The extent to which the import bill exceeds export receipts worryingly breached $200 billion for a rolling 12­month period for the first time in April, impacted predominantly by petroleum imports of $172 billion.
  • Impact of Russia-Ukraine War- Global crude oil prices have surged by more than 40% in 2022 in the wake of Russia’s war on Ukraine, swelling the import bill.
  • Coal Imports- The early onset of the Indian summer, with a heatwave, has bolstered power demand, setting the pace for coal imports, which grew 136% last month, notwithstanding record output by key domestic supplier Coal India.
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