November 2024

Download PDF
Daily Current Capsules - 14th May 2019

Defence
IAF receives its first Apache Guardian attack helicopter
Relevance IN - Prelims ( about the Apache Guardian helicopter)


What's the NEWS
  • The Indian Air Force has received the first Apache Guardian helicopter from US aircraft manufacturer, Boeing.
  • India had signed a multi-billion dollar contract with the US in September 2015, for 22 of these helicopters.
  • The attack helicopter has been customised to suit Indian Air Force's future requirements and would have significant capability in mountainous terrain.
Know! more about the multi role attack helicopter
  • The AH-64E Apache is primarily a multi-role attack helicopter, which is flown by the US Army. Its addition in the Indian chopper fleet is a significant step towards modernization of the Air Force and boosting its fighting capability.
  • The main features of the latest variant of the Apache fleet includes improved digital connectivity and powerful engines with upgraded face gear transmission to accommodate more power.
  • The helicopter has the capability to control unmanned aerial vehicles (UAVs), full IFR capability, and improved landing gear.
  • It has the capability to carry out precision attacks at standoff ranges and operate in hostile airspace with threats from the ground.
  • The helicopter also has the ability to transmit and receive the battlefield picture, to and from the weapon systems through data networking, which makes it a lethal acquisition.
  • Further, the helicopter has an oversea capacity and is fit for maritime operations, potentially enabling naval strikes.
Know! about the agreement
  • The Indian Air Force had signed a contract with US Government and M/s Boeing Ltd in September 2015 for 22 Apache helicopters.
  • Besides this, the Defence Ministry had approved the procurement of six Apache helicopters in 2017 along with weapons systems from Boeing at a cost of Rs 4,168 crore for the Army.
  • This will be the Indian Air Force's first fleet of attack choppers.
International Affairs
IMF Bails Out Cash-strapped Pakistan in Nick of Time, to Pay $6 Billion Over Next 3 Years
Relevance IN - Prelims ( about the IMF bail out provision) + Mains ( GS II India and its neighbourhood)
What's the NEWS
  • Pakistan and the IMF have reached a new agreement securing a $6 billion bailout for the cash-strapped country, following months of painstaking negotiations between the two sides.
  • The agreement marks Pakistan's 22nd bailout with the Fund, as the country struggles to stave off a looming balance-of-payments crisis while its economy teeters due to low growth, soaring inflation, and mounting debt.
Know! the key highlights of the bail package
  • Under the new loan deal, Pakistan will receive $6 billion from the IMF in addition to $2 to $3 billion from the World Bank and Asian Development Bank over the next three years.
  • The loan deal aims to support Pakistan's strategy to enable a more balanced growth by reducing the internal and external imbalances, improving the business environment, increasing transparency, strengthening institutions and protecting social spending.
Current economic status of Pakistan
  • As per a government report published on May 10, Pakistan's growth rate is set to hit an eight-year low, with the country's GDP rate likely to sink to 3.3 percent as against a projected target of 6.2 percent.
  • Since Pakistan joined the IMF in 1950, the nation has had 21 bailouts, with the last one worth $6.6 billion being issued in 2013.
  • The country is facing a huge financial crunch after the United States cut $300 million worth military aid to the nation.
  • Pakistan is also facing possible sanctions from the Financial Action Task Force, an anti money-laundering monitor based in Paris, for failing to control terror financing.
  • The organization is expected to soon take a decision on whether to add Pakistan to a blacklist. If initiated, the move would trigger automatic sanctions, which would further weaken Pakistan's economy.
Additional financial support given by other nations to Pakistan
  • In international bailout efforts, the UAE, which is Pakistan's largest trading partner in the Middle East, recently offered $3 billion to support the nation's dwindling economy.
  • Saudi Arabia also pledged $6 billion in funding and entered a 12-month deal with the nation during Pakistani Prime Minister Imran Khan's visit to the kingdom in October 2018.
International Organisations
India hosts two-day WTO ministerial meeting
Relevance IN - Prelims ( about the ministerial meeting) + Mains ( GS II international organisations)
What's the NEWS
  • India is hosting a two-day ministerial meeting of the World Trade Organisation (WTO) from May 13-14, 2019 in New Delhi.
  • Ministers from 16 developing nations and six least developed would be taking part in the meeting.
Know! more about the meeting objectives
  • Issues that are expected to be discussed during these two days include deadlock on the appointment of WTO's appellate body members and the way forward on reforms at the global trade body.
  • The meeting aims to bring together developing nations and the least developed nations on a common platform to share their concerns on various issues affecting the trade organization and work together to address these issues.
  • It is being held at a time when the multilateral rules-based trading system is facing serious and grave challenges.
  • During the meeting, the developing countries and the LDCs will be given an opportunity to build consensus on the way forward regarding the WTO reforms, while preserving the fundamentals of the multilateral trading system enshrined in the WTO.
  • The discussions will primarily focus on getting a direction on how to constructively engage on issues in the WTO, both institutional and negotiating, in the run-up to the Twelfth Ministerial Conference of the WTO to be held in Kazakhstan in June 2020.
  • The participants include Bangladesh, China, Malaysia, Indonesia, Kazakhstan, Malawi, Brazil, Guatemala, Barbados, Argentina, Benin, Chad, Guyana, Egypt, Jamaica, Central African Republic, Nigeria, Oman, Saudi Arabia, Uganda, Turkey and South Africa.
  • All the participants together will aim to build consensus on how to move forward on the WTO reforms, while preserving the fundamentals of the multilateral trading system.
State Specific
Researchers discover ‘rain-loving' snake in Mizoram
Relevance IN - Prelims ( about the newly discovered snake)

What's the NEWS
  • A group of researchers have unearthed a new ‘rain loving' snake species from Mizoram in North-east India. The researchers have named the specie "Smithophis Atemporalis."
Know! more about the snake
  • The finding is significant because such a discovery has been made for the first time after almost 150 years. The discovery has not only revealed a new reptile species but also a whole new genus after a gap of 150 years.
  • The discovery brings focus on the vibrant and largely explored biodiversity of the Northeast, which is facing the threat of extinction.
  • The species is reported to be a non-venomous kind and strictly aquatic. The maximum recorded size of the new species is about 655 mm or 2.5 feet.
  • Locally, the species is referred to as "Ruahlawmrul," a rain-loving snake, as the activity of the snake increases during the rainy season.
Prelims Practise Questions
Consider the following statements about Apache Helicopter
1. The Indian Army has received the first Apache Guardian helicopter from US aircraft manufacturer, Boeing.
2. India had signed a multi-billion dollar contract with the France in September 2015, for 22 of these helicopters.
3. The AH-64E Apache is primarily a multi-role attack helicopter, which is flown by the US Army.
4. The helicopter has the capability to control unmanned aerial vehicles (UAVs), full IFR capability, and improved landing gear.
Find the correct statements from the options given below
a. 3 and 4
b. 1 2 and 4
c. 2 3 and 4
d. All

KEEP Learning KEEP Evolving
TEAM CL IAS