Current Affairs 19th April 2024 for UPSC Prelims Exam

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Mt. Raung Volcano

Context: The Indonesian authorities issued a tsunami alert after the volcanic eruptions at Ruang Mountain.

About Mount Raung

Ruang Mountain
Location	East Java, Indonesia
Elevation	3,344 meters (10,974 feet)
Caldera	2 kilometers wide, 500 meters deep, surrounded by a grayish rim
Activity	One of the most active volcanoes on Java. It has over sixty recorded eruptions dating back to the late 16th century.

Indonesia

An archipelago of 270 million people, has 120 active volcanoes.
It is prone to volcanic activity because it sits along the “Ring of Fire,” a horseshoe-shaped series of seismic fault lines around the Pacific Ocean.

Cruise Missiles

Context: DRDO successfully test fired an indigenous long range subsonic cruise missile.

Difference Between Cruise And Ballistic Missiles

Aspect	Cruise Missile	Ballistic Missile
Flight Path	Low-level, terrain-hugging, within the atmosphere	High arcing, parabolic trajectory, exits and re-enters atmosphere
Propulsion	Jet engine, sustained propulsion throughout flight	Rocket boosters, propelled initially, coasts without propulsion mid-flight
Guidance Systems	Advanced guidance with GPS, inertial, TERCOM or image-based systems	Inertial, sometimes with star sighting or GPS, terminal phase guidance
Speed and Altitude	Generally subsonic or supersonic, flies at lower altitudes	Hypersonic speeds, reaches extremely high altitudes
Defensive Countermeasures	Hard to detect due to low altitude and potential for stealth technology	Easier to detect at launch, difficult interception due to speed and trajectory
Purpose and Use	Precision strikes against specific targets requiring controlled flight paths	Delivery of strategic payloads, including nuclear, across continents
Examples (India)	BrahMos, Nirbhay	Prithvi I, Prithvi II, Agni I, Agni II and Dhanush missiles.

Foreign Direct Investment

Context: India’s outward foreign direct investment (OFDI), or overseas direct investment, declined by 39 percent to $28.64 billion in FY24.

More in News

India’s outward foreign direct investment (OFDI) witnessed a significant decline of 39% to $28.64 billion in the fiscal year ending March 2024.
The decrease in OFDI is attributed to uncertain global economic conditions impacting investment opportunities for Indian companies.

Outward FDI Trends

In the fiscal year ending March 2023, outward FDI amounted to $46.96 billion, according to RBI data.
The data includes commitments through both the automatic and approval routes, with equity commitments accounting for a significant portion.

Factors Influencing Outward FDI

The uncertain global economic environment likely contributed to fewer overseas investment opportunities in FY2024.
Experts suggest that the dip in outward FDI was also influenced by the absence of large overseas acquisitions by Indian companies.
The decrease in overseas guarantees issued by Indian companies further indicates subdued investment activity amidst global uncertainty.

Aspects	Foreign Direct Investment (FDI)
Definition	Investment into a country by establishing or acquiring a lasting interest in enterprises.
Ownership and Control	Provides control over the company in which investment is made.
Purpose	To have a significant degree of influence or control over a company and often involves management.
Size of Investment	Involves larger, long-term commitments.
Investment Stability	More stable, long-term investment.
Impact on Economy	Has a direct impact on employment, technology transfer, and long-term economic development.
Convertibility of Currency	Can involve convertibility issues depending on the country’s capital flow regulations.
Influence on Corporate Governance	Significant, FDI investors often play a role in the management and decision-making processes.
Examples	A foreign car manufacturer setting up a production plant in India