Both depreciation and devaluation highlight an economic condition when there is a decrease in the value of the domestic currency in comparison to any other foreign currency, leading to a decline in the purchasing power of the domestic currency. However, the manner in which they occur is different. The differences between depreciation and devaluation are:

• Depreciation happens in the floating exchange rate regime, while devaluation is associated with the fixed/pegged exchange rate regime.
• Depreciation is a decrease in the value of domestic currency due to the market forces of demand and supply. Whereas, in the case of devaluation, the central bank deliberately makes downward adjustme:.t of the value of domestic currency vis-à-vis any other currency.
• Depreciation can occur on a daily basis, while devaluation is usually done occasionally by the central bank.

Some of the factors that affect the value of the Indian Rupee include:

• Market forces of demand and supply: The economic transaction of India with other countries creates demand for and supply of foreign exchange. When the demand for foreign currency is high, the exchange rate rises and the rupee depreciates. In contrast, if there is less demand for foreign currency, the exchange rate declines and rupee appreciates. It also depends on the demand and supply of Indian currency vis-à-vis other currencies.
• Intervention by the RBI: Sometimes, the RBI intervenes and influences the demand and supply of foreign exchange by buying and selling foreign currencies. For instance, when the RBI buys dollars, the supply of the dollar decreases, leading to increase in its price. This also leads to increase in the supply of rupee and decline in its value vis-à-vis the dollar.
• Currency speculation: Individuals/institutions buy foreign currency in the expectation that its value relative to rupee is going to increase in the near future. This expectation increases the demand for foreign currency and causes depreciation of the rupee.
• Interest rate differential between countries: High interest rate in India in comparison to other nations attracts foreign investors to invest in the Indian markets. It increases the demand for the Indian rupee, which leads to its appreciation.
• Income: When people’s disposable income in India increases, their spending on imported goods is likely to increase. This will increase the demand for foreign currencies and weaken the rupee.
• Price level: When the rate of inflation is higher in India than in other countries, purchasing power of the rupee declines, resulting in the reduction in its value in the international markets. Conversely, a low inflation rate will lead to appreciation of the rupee.

Any change in the value of the rupee has significant implications on the economy and policy making. Therefore, it requires careful maneuvering to manage macroeconomic indicators at optimum levels.

ISRO is playing a significant role in the development and progress of the nation. The application of space technology in agriculture, soil, water resources, land use, land cover, rural development, earth and climate studies, geosciences, urban and infrastructure, disaster management support, forestry, ecology and using geospatial technology for enabling decision support systems are testimonial to the developmental role of ISRO.

ISRO’s role in developmental activities

• Agriculture: ISRO’s technology is being used to carry out crop production forecasts for major crops and to improve crop condition and productivity by using remote sensing satellite data.
• Rural Development: ISRO has launched Village Resource Centres (VRCs) to provide space based services directly to rural areas like Tele-Medicine, Tele-Education, Panchayat planning, marketing information, etc.
• Resource Management: ISRO, through its Earth Observation Satellites, provides for effective management of natural resources.
• Railways: Applications of space technology are realised in guarding unmanned railway crossings, detecting obstructive objects on rail tracks to avoid rail accidents, etc.
• Education: EDUSAT provides connectivity to schools, colleges, and higher levels of education and also supports non-formal education including development communication.
• Disaster Management: Using geoportals like Bhuvan to address aspects of natural disasters, using space based weather forecast inputs, etc.
• Navigation: NavIC or Navigation with Indian Constellation, is an independent regional navigation satellite developed and maintained by ISRO. Applications include maritime field, mobile navigation, defence, etc.
• Urban Development: High resolution satellite data provides accurate information on current land-use practices in a city or a town which aids evidence based policy making.
• COVID-19: ISRO is also engaged in repurposing existing resources, scaling up of capacity of their facilities and also transferred technology to supplement the country’s fight against the second wave of COVID-19.

These developments are in sync with the ISRO’s vision to harness space technology for national development, while pursuing space science research and planetary exploration. It has been in the forefront of using technological advancements for the benefit of the people of the nation in various ways and will need continuous support and encouragement to further the cause.

Geostrategic significant Central Asian region forms a part of India’s extended neighborhood. Its geographical proximity, strategic location, and historical linkages Geostrategic significant Central Asian region forms a part of India’s extended neighborhood. Its make it an important partner for India. At the heart of Eurasia, the region is surrounded by Russia, West Asia, South Asia (Afghanistan) and China. Any geopolitical changes in the region may impact several states in the neighbourhood including India. Central Asian countries are also endowed with commercially viable quantities of most minerals like coal, oil, gas, uranium, gold, lead etc. Despite the immense significance of the region resulting in the Connect Central Asia Policy of 2012, India has not been able to strengthen its ties with the Central Asian countries due to following reasons:

• Poor connectivity: The key constraint that India faces is the lack of direct access to Central Asia. The adverse geographic terrain and the thorny India-Pakistan border dynamic, greatly impedes connectivity, thereby curbing greater economic cooperation between India and the region.
• Unrealised trade potential: India’s trade with the region amounts to US$ 2 billion, which is less than 0.5 percent of India’s total trade. Whereas the region’s trade with China amounts to US$ 100 billion. Besides the physical barriers, trade regulatory hindrances and political fragility
• Volatile security scenario: have created obstacles in the free flow of trade within the region. In addition to traditional security threats, instability in Afghanistan, hostility of Pakistan, concerns regarding confrontation between Iran and the United States, etc. diminishes reliability and safety required for trade and commerce, discouraging investments.
• Internal dynamics: Delineation of borders by the Soviet communist leadership overlooked many ethnic, tribal, linguistic, geographical, and even economic factors. Consequently, the postSoviet era saw problems of governance, extreme and worsening corruption, drug trafficking, regulation of movement across the borders and many inter-state disputes in this region.

Given the geostrategic and diplomatic significance of the region, it is important for India to deepen its relationship with countries in this region by:

• Connectivity network: India is part of the Ashgabat Agreement since 2018. In the right context this can be further extended by linking connectivity initiatives in this region in one network e.g the INSTC, TAPI, Lapis Lazuli corridor, and the Chabahar port.
• Deepening engagement: Building on the India-Central Asia Dialogue initiated in 2019, an India-Central Asia Forum Summit could be formulated on the lines of the India-Africa Forum Summit. It should also facilitate the setting up of the India-Central Asia Think Tank Forum to discuss and debate economics, history, politics, and business at the Track-2 level. It is in India’s interest to expeditiously finalise the much-awaited Free Trade Agreement (FTA) between India and the Eurasian Economic Union (EAEU).
• Scope for cooperation: Apart from annual exercises (like KAZIND with Kazakhstan), defence cooperation should be institutionalised through mechanisms like Joint Working Group on defence related activities. An India-Central Asia Defence Expo could be organised. Also, there scope for expansion in sectors like dairy, pharma, IT, entertainment etc.
• Capacity Building: India can strengthen its outreach in Central Asia by providing assistance in augmenting the social capital through programs like the Indian Technical and Economic Cooperation (ITEC) Programme and the Indian Council for Cultural Relations (ICCR).

Central Asian regional dynamics will become very interesting with India’s involvement in the region in the coming years. Growing synergies between them will promote security, stability, economic growth and development of all countries.

Preserving historical sites and artifacts is crucial for a variety of reasons. Here are some of the importance of preserving historical sites and artifacts:

1. Cultural Heritage: Historical sites and artifacts are a part of a culture’s heritage, and preserving them helps to preserve the cultural identity and traditions of a community.
2. Learning from the Past: Historical sites and artifacts provide valuable insights into the past, allowing us to learn from history and understand how societies evolved over time.
3. Preserving Legacy: Preserving historical sites and artifacts helps to ensure that future generations can learn about and appreciate the achievements and sacrifices of those who came before us.
4. Tourism and Economic Benefits: Preserved historical sites can attract tourists, generating revenue and supporting local economies.
5. Conservation of Knowledge: Historical sites and artifacts contain knowledge and information about past societies, technologies, and ways of life, which can be lost if they are not preserved.
6. Sense of Place: Preserving historical sites and artifacts helps to create a sense of place and community, as people can connect with their shared history and cultural heritage.
7. Promoting Cultural Diversity: Preserving historical sites and artifacts helps to promote cultural diversity by preserving the unique cultural practices, traditions, and ways of life of different communities.
8. Educational Value: Historical sites and artifacts provide a hands-on educational experience for students, allowing them to learn about history in a engaging and interactive way.
9. Protecting National Identity: Preserving historical sites and artifacts helps to protect a nation’s national identity and sovereignty by preserving its cultural heritage.
10. Scientific Research: Historical sites and artifacts can provide valuable data for scientific research, such as in archaeology, anthropology, and history.

The United States’ rise as a superpower during the Cold War was a gradual process that was shaped by a series of events, decisions, and actions taken by the US government, military, and economy. Here are some key events that contributed to the US rise as a superpower:

1. World War II (1939-1945): The US emerged from World War II as one of the victors, with significant economic and military strength. The war effort had stimulated the US economy, and the country had developed a strong military-industrial complex.
2. Morgenthau Plan (1944): Secretary of the Treasury Henry Morgenthau proposed a plan to demilitarize and deindustrialize Germany after the war. However, this plan was rejected in favor of a more pragmatic approach that aimed to establish a strong and stable Western Europe.
3. Truman Doctrine (1947): The Truman Doctrine, also known as the Truman Policy, committed the US to providing economic and military aid to countries threatened by communist expansion. This marked a shift from isolationism to global engagement and set the stage for US involvement in international affairs.
4. Marshall Plan (1948): The Marshall Plan provided significant economic aid to Western Europe, helping to rebuild and strengthen the region’s economies. This not only stabilized Europe but also created new markets for US goods and services.
5. National Security Act (1947): This act reorganized the US military and created the Department of Defense, Central Intelligence Agency (CIA), and Federal Bureau of Investigation (FBI). It also established the National Security Council (NSC) to coordinate national security policy.
6. Korean War (1950-1953): The Korean War tested the US military’s capabilities and demonstrated its ability to project power globally. The war also led to significant increases in defense spending and military modernization.
7. Cold War rivalry with the Soviet Union: The rise of the Soviet Union as a superpower created a global rivalry that pushed both nations to invest in their military, economy, and technology. The US response to Soviet aggression in Eastern Europe, particularly through NATO, solidified its position as a major power.
8. Civil Rights Movement: The Civil Rights Movement of the 1950s and 1960s helped to improve social justice and equality within the US, which contributed to increased national cohesion and global respect for American values.
9. Space Exploration: The US space program, launched in the late 1950s, demonstrated American technological prowess and sparked a new era of space exploration. This helped to establish the US as a leader in science, technology, engineering, and mathematics (STEM) fields.