Prelim Bits 13-11-2022 & 14-11-2022 | UPSC Daily Current Affairs

Currency Monitoring List

The United States’ Department of Treasury removes India along with 4 other countries from its Currency Monitoring List.

• The US Department of Treasury delivers a biannual report to the Congress.
• The report reviews the policies of the US’ trading partners and also the treasury’s ‘Currency Monitoring List’.
• The economies that meet 2 of 3 criteria in the Trade Facilitation and Trade Enforcement Act of 2015 are placed on the Monitoring list.
• If a country meets all three criteria, it gets termed as ‘currency manipulator’ by the US Department of Treasury.
• Once on the list, an economy will remain there for at least two consecutive reports
• The list closely monitors the currency practices and policies of some of the US’ major trade partners.

• Current Scenario - India along with Italy, Mexico, Thailand and Vietnam have been removed from the Currency Monitoring List.
• The report said that the countries that have been removed from the list have met only 1 out of 3 criteria for two consecutive reports.
• Countries in the current List - China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan are the 7 economies in the current List.

India was placed on the list the first time in 2018 and has been on the list for last 2 years.

References

1. The Indian Express - What is the US’ Currency Monitoring List
2. Live Mint - US Treasury removes India from its Currency Monitoring List

Tirupati Megalithic site

Tirupati district is dotted with several burial sites which belong to the Megalith era.

• Tirupati district is dotted with anthropomorphic burial sites and is largest site in Andhra Pradesh.
• Tirupati and Chittoor district [Tirupati district was carved out of it in April 2022] together has an array of megalith structures.
• This indicates the presence of people living in groups during the megalithic period (300–500 BC) in this region.

Anthropomorphic sites are those marked by a representation of human form above the megalithic burials.

Pillared Dolmen

• The ‘pillared dolmen’ is a prominent site of the megalithic era found at Mallayyagaripalle (20 km from Tirupati).
• The site is on a hillock between Chandragiri and Dornakambala.
• The structure locally referred to as ‘Pandava Gullu’ or ‘Pandavula Banda’ in memory of the Pandavas.
• It is estimated to be 2,500 years old.

Megalithic Sites

• The word ‘Megalith’ has been derived from two Greek words ‘megas’ meaning big/large and ‘lithos’ means stone.
• The megalith is a nomenclature used for certain burial style which involves stone erect structures for dead.
• The origin of megaliths in India can be traced back to Neolithic-Chalcolithic period.
• In India, megaliths are reported from Peninsular South, Deccan plateau, Vindhyas and North West region of Indian subcontinent.
• Types of megalithic burial - Cairn circle, Stone alignment, Urn burial and multiple stone hoods are few of them.
• Kodaikal and Topikal types are found in Kerala and Menhirs are found in Karnataka, Andhra Pradesh and Kerala.

References

1. The Hindu - Tirupati’s megalithic burial sites in a state of neglect
2. UNESCO - Hire Benkal - Megalithic Site

19^th ASEAN-India Summit

The Vice President led delegates took part in the 19^th ASEAN-India summit at Phnom Penh, Cambodia.

• At the 19^th ASEAN-India Summit, the Vice President stated that India-ASEAN relationship forms the central pillar of India’s ACT-EAST policy.
• India reiterated its support to ASEAN centrality in the Indo-Pacific.
• ASEAN and India hold annual summits since 2002 to elevate political, security, economic and socio-cultural ties.

2022 marks the 30th anniversary of ASEAN-India relations and is being celebrated as the ‘ASEAN-India Friendship Year’.

• The Joint Statement on ASEAN-India Comprehensive Strategic Partnership was adopted in the 19^th ASEAN-India Summit.

• It reaffirms the importance of maintaining and promoting peace, freedom of navigation and overflight in the Indo-Pacific region, and peaceful resolution of disputes.
• The two sides agreed to enhance cooperation against terrorism, transnational crimes and cybercrimes.
• Both sides sought to strengthen cooperation on cybersecurity by establishing new dialogue platforms between India and the ASEAN.

References

1. The Indian Express - India, ASEAN countries promise to boost cooperation against terrorism
2. Hindustan Times - India & ASEAN reaffirm importance of freedom of navigation
3. Live Mint - VP leads delegation at the 19^th ASEAN-India Summit

17^th East Asia Summit 2022

The Vice President addressed the 17th East Asia Summit at Phnom Penh, Cambodia.

• The East Asia Summit was held as part of the 40^th and 41^st ASEAN Summits in Phnom Penh.
• The 17^th EAS focused on
  1. Advancing women’s economic empowerment,
  2. Strengthening energy cooperation for a comprehensive Post-Covid-19 Recovery, and
  3. Promoting volunteerism for Sustainable Development.

East Asia Summit

• The East Asia Summit (EAS) is the Indo-Pacific's premier forum for strategic dialogue.
• It is the only leader-led forum at which all key Indo-Pacific partners meet to discuss political, security and economic challenges facing the region.
• It has 18 members - The 10 ASEAN and its eight dialogue partners - India, China, Japan, the Republic of Korea, Australia, New Zealand, the United States and Russia.
• The chair position of EAS rotates between ASEAN Member States annually.
• The annual Leaders' Summit is usually held alongside ASEAN Leaders meetings.
• Apart from the Leaders’ Summit, meetings of EAS Foreign Ministers and Economic Ministers are held every year.

The 16^th EAS chaired by Brunei Darussalam was virtually held on 27 October 2021 due to the COVID-19 pandemic.

References

1. The Indian Express - Vice President highlights EAS role in free Indo-Pacific
2. The Hindu - Southeast Asian leaders call for unity
3. Times of India - Vice President participates in 17th East Asia Summit

Gorshey

Delhi’s Tibetans gather together at Majnu Ka Tila to participate in Gorshey as part of the White Wednesday routine.

• Gorshey is a traditional dance of Tibetans performed in circles.
• ‘Gor’ means circle and ‘shey’ means dance.
• They dance to the traditional music played on the occasion mostly originated in Tibet.
• Both men and women perform Gorshey dance.
• The gripping circle dance is done on Lhakar or White Wednesdays.

Lhakar

• Lhakar or White Wednesdays are recognised as auspicious for Dalai Lama and has held special importance for Tibetans.
• Lhakar is a traditional day for Tibetans to express devotion to their spiritual leader and pray for his long life.
• However, in the recent years, the spiritual observance of the day has grown into a world-wide movement to embrace Tibetan identity and culture.

References

1. The Hindu - A peek into Tibetan culture at Majnu Ka Tila