Goaltide Daily Current Afffairs 2023

Feb 21, 2023

Current Affair 1:
What is Generative AI?


Generative AI (GenAI) is a type of Artificial Intelligence that can create a wide variety of data, such as images, videos, audio, text, and 3D models. It does this by learning patterns from existing data, then using this knowledge to generate new and unique outputs.

GenAI can produce highly realistic and complex content that mimics human creativity, making it a valuable tool for many industries such as gaming, entertainment, and product design. Recent breakthroughs in the field, such as GPT (Generative Pre-trained Transformer) and Midjourney, have significantly advanced the capabilities of GenAI. These advancements have opened up new possibilities for using GenAI to solve complex problems, create art, and even assist in scientific research.

ChatGPT, with its 100 million users, stands as a testament to the rapid adoption and widespread impact of this cutting-edge technology.

Some applications:


Current Affair 2:
Yuva Vignani Karyakram (YUVIKA) program: ISRO



Current Affair 3:
Net Zero Industry Act (NZIA) and Critical Raw Materials Act (CRMA).



Current Affair 4:
Impact of a falling exchange rate


A look at the economic impact of a fall in the exchange rate (termed depreciation or devaluation)

A fall in the exchange rate is known as a depreciation in the exchange rate (or devaluation in a fixed exchange rate system). It means the currency is worth less compared to other countries.

When there is a depreciation, and the exchange rate goes down

  • Exports will be cheaper
  • Imports will become more expensive

For example, a depreciation of the rupee makes Indian exports more competitive but raises the cost of importing goods into the India.. Therefore, there will be an increase in exports and decrease in the quantity of imports.

Domestic firms will benefit from increased sales. This may lead to job creation and lower unemployment, especially in export industries.

Impact of depreciation on inflation

Inflation will tend to rise because –

  • A depreciation increases the cost of imports so there will be an increase in cost-push inflation.
  • A depreciation increases domestic demand, so there could be some demand-pull inflation
  • A depreciation makes exports more competitive – without any effort. In the long-term, this may reduce incentives for firms to cut costs, and could lead to declining productivity and rising prices.
  • The effect of a depreciation in the exchange rate depends on the state of the economy. If the economy is growing quickly and close to full capacity, then a fall in the exchange rate is likely to increase inflationary pressures. In a recession, the fall in the exchange rate may only cause some temporary cost-push inflation.

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