Info Nuggets

BNS

The Bharatiya Nyaya Sanhita (BNS) is the primary criminal code of the country aimed at modernising and simplifying India's criminal justice system. It replaces the Indian Penal Code (IPC) of 1860, addressing contemporary challenges and incorporating changes in law. The BNS focuses on strengthening provisions related to crimes like terrorism, sexual offenses, and corruption. It also aims to ensure quicker trials, better protection for victims, and a more effective, transparent legal framework, making the system more responsive to modern needs.

 Malacca Strait

The Strait of Malacca is a narrow waterway between the Malay Peninsula (Peninsular Malaysia and southern Thailand) and the Indonesian island of Sumatra. It connects the Andaman Sea (Indian Ocean) to the South China Sea (Pacific Ocean). It’s the primary route connecting the Indian and Pacific Oceans. This passage is crucial for global trade, especially for the transport of oil, containers, and other goods.

Balance of payments (BoP)

The BoP is a crucial economic indicator, detailing all financial transactions between a country and the rest of the world.  The comprehensive ledger tracks the inflow and outflow of money where inflows are marked positive and outflows negative, reflecting the country's economic interactions globally. It measures the relative demand for the rupee against foreign currencies, crucially influencing exchange rates and economic stability.

LPG reforms

The Liberalisation, Privatisation, and Globalisation (LPG) reforms, initiated in India in 1991, aimed to transform the Indian economy by reducing government control, promoting private sector participation, and integrating the economy with the global market. These reforms, spearheaded by Prime Minister PV Narasimha Rao and Finance Minister Manmohan Singh, were a response to a severe balance of payments crisis.