[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 02 July 2022 – INSIGHTSIAS

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InstaLinks help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions in your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their static or theoretical background. This helps you study a topic holistically and add new dimensions to every current event to help you think analytically

 

Table of Contents:

 

GS Paper 2:

1. India’s nuclear policy reflects its past ideology: NHRC chief

2. What the G7 meet accomplished

3. Xi Jinping, in rare Hong Kong visit, hails change ‘from chaos to order’

 

GS Paper 3:

1. Financial Services Institutions Bureau (FSIB)

2. Dumping

3. Forest (conservation) Rules, 2022 Notified

 

Content for Mains Enrichment (Ethics/Essay):

1. Tamil Nadu’s forest man

 

Facts for Prelims:

1. Ashadhi Bij

2. Study to trace genetic links to Harappan race

3. International Cooperatives Day

4. IDIOT syndrome:

5. India’s largest floating solar power project

6. Clubbing of Cases

7. Hive-Killing Mite: Varroa

8. Windfall tax

9. Schemes for MSME

10. DRDO’s Unmanned Aircraft

 


India’s nuclear policy reflects its past ideology: NHRC chief

GS Paper 2

Syllabus: Nuclear doctrine of India, various statutory, regulatory and quasi-judicial bodies.

 

Context:

  • National Human Rights Commission (NHRC) chairperson said India’s policy on nuclear weapons was a manifestation of its past ideology.
  • He said Indian civilisational ethos was “blessed with the power of assimilation of different streams of ideas and faiths, as we want to improve and not impose our culture upon others, which may amount to a violation of human rights.
  • India’s doctrine of nuclear policy is a manifestation of its past ideology that prohibits the use of weapons of mass destruction, which only harm humanity.
  • It has been reflected both in the Ramayana and the Mahabharata when the use of weapons of mass destruction was prohibited.

 

Current Affairs

 

Nuclear Doctrine of India:

  • In 2003, India officially accepted a Nuclear Doctrine based on the No First Use(NFU) policy.
  • Nuclear weapons will only be kept as a credible minimum deterrence against nuclear attacks.
  • NFU policy would be followed and India would use nuclear attack only as retaliation against a nuclear attack on India or on Indian forces anywhere.
  • India would not launch a nuclear weapon attack against any non-nuclear state.
  • However, in the event of a major attack on India or on Indian forces anywhere by chemical or biological weapon, India will have the option of retaliating with nuclear weapons.
  • The retaliatory 2nd strike to a first nuclear attack would be massive and would inflict unacceptable damage on the opponent

 

Presently India follows the 2003 Nuclear Doctrine.

 

Insta Links:

India’s Nuclear Policy

National Human Rights Commission (NHRC)

 

Practice Questions:

 

Q. With reference to National Human Rights Commission(NHRC), consider the following statements:

  1. A person who is a Judge of the Supreme Court is also eligible to be appointed as Chairperson of the Commission in addition to the person who has been the Chief Justice of India.
  2. National Human Rights Amendment Act 2019 allows for the reappointment of members of the NHRC and SHRCs for a period of 5 years.

Which of the statements given above is/are correct?

a. 1 only

b. 2 only

c. Both 1 and 2

d. Neither 1 nor 2

Ans: (c)

Justification:

National Human Rights Amendment Act, 2019:

  • Composition of NHRC: The chairperson of the NHRC is a person who has been a Chief Justice of the Supreme Court.
  • The Act provides for 2 persons having knowledge of human rights to be appointed as members of the NHRC.
  • Members of the NHRC: The chairpersons of the National Commission for Scheduled Castes, National Commission for Scheduled Tribes, and National Commission for Women.
    Chairperson of SHRC: A person who has been a Chief Justice of a High Court.
  • Term of office: The chairperson and members of the NHRC and SHRC will hold office for 5 years or till the age of 70 years, whichever is earlier.
  • The Act allows for the reappointment of members of the NHRC and SHRCs for a period of 5 years.

 Source: The Hindu

What the G7 meet accomplished:

GS Paper 2

Syllabus: Bilateral, regional and global grouping.

 

Context:

  • According to its 12,000-word communiqué, the G7 has issued four other statements as well — on democracy (together with the guest countries), Ukraine, global food security, and the creation of a climate club.
  • Taken together, this summit outcome looks weighty, even impressive.
  • The G7 invited “guests”, top leaders from five countries — Argentina, India, Indonesia, Senegal, and South Africa — in a studied nod to the global south.
  • Its adversaries and competitors Russia and China were not present.

 

Current Affairs

 

G7 Leaders’ Communiqué: Key Highlights:

  • Russia’s war of aggression against Ukraine: The statement condemned Russia’s illegal and unjustifiable war of aggression against Ukraine.
    • It resolved to stand with Ukraine for as long as it takes, providing the needed financial, humanitarian, military, and diplomatic support in its courageous defence of its sovereignty and territorial integrity.
  • Severe and enduring costs on Russia: G7 members will continue to impose severe and enduring costs on Russia to help bring an end to this war.
    • In this regard, the official communique endorsed the ambitious and untried concept that seeks price caps on Russian oil.
    • Leaders also agreed on a ban on imports of Russian gold.
  • Ensuring food security around the globe: The participating leaders pledged to spend $4. 5 billion this year to help ensure food security around the globe.
    • To protect people from hunger and malnutrition, and in response to Russia’s weaponization of grain, G7 leaders decided to increase global food and nutrition security through the Global Alliance on Food Security.
  • On China’s ‘market-distorting’ practices: G7 leaders condemned China’s non-transparent and market-distorting international trade practices.
    • The G7 leaders signalled that they would seek to extricate themselves from economic dependence on China.
  • Partnership for Global Infrastructure and Investment
    Through its Partnership for Global Infrastructure and Investment, G7 countries aim to mobilize USD 600 billion over the next five years to narrow the global investment gap.
  • Global cooperation: G7 members decided to step up their cooperation globally, including through working towards new Just Energy Transition Partnerships with Indonesia, India, Senegal and Vietnam, building on the existing partnership with South Africa.
  • COVID-19: To overcome the current COVID-19 pandemic, G7 will build on its provision of over 1.175 billion vaccine doses since the last meeting in 2021.
    • G7 countries also decided to prevent, prepare, and respond to future pandemics and health challenges including through the G7 Pact for Pandemic Readiness.

India at G7 Summit

  • Although India is not a member of G7, it was called as a guest to attend the summit.
  • At the G-7 summit in Germany, PM Modi participated in two sessions on:
    • Investing in a Better Future: Climate, Energy, Health and
      Food security
    • Resilient Democracies document signed:
      • Through this statement, the participating countries expressed their commitment to guard the freedom, independence and diversity of civil society actors and protect the freedom of expression and opinion online and offline.

 

Key highlights:

 

Current Affairs

 

Insta Links:

G7

 

Practice Questions

Q. What is G7? Discuss its significance in current geopolitics. (15M)

 

Q. Which of the following countries is/are part of the G20?

  1. Brazil
  2. Mexico
  3. Saudi Arabia
  4. China
  5. Malaysia

Select the correct answer using the codes given below:

a. 2 and 3 only

b. 1, 2, 3 and 4 only

c. 1, 3 and 5 only

d. 1, 2, 3, 4 and 5

 

Current Affairs

Ans: (b)

Justification:

Source: The Indian Express

Xi Jinping, in rare Hong Kong visit, hails change ‘from chaos to order’

GS Paper 2

Syllabus: India and its neighbourhood-relations, effect of policies and politics of developing and developed countries on India.

 

Context:

  • The Chinese President said Hong Kong was “in a new stage of transitioning from chaos to order” on a rare visit to the Special Administrative Region (SAR).
  • July 1, 2022, marked the 25th anniversary of the former British colony’s handover to China and also saw the swearing-in of new Chief Executive John Lee and his government.
  • The tighter controls under a national security law imposed in 2020 have prompted some people to leave for Taiwan, Britain and other countries.

 

Background: Hong Kong, one of Asia’s richest cities and a global business centre with thriving film, publishing and other creative industries, returned to China on July 1, 1997, under an agreement that promised a “high degree of autonomy” for 50 years.

 

Current Affairs

 

Key Highlights:

  • National security Law 2020: Beijing imposed the National Security Law in 2020 following protests that erupted over a proposed extradition law and spread to include demands for more democracy.
  • Banning of pro-democratic movements: The territory has banned commemorations of the ruling party’s violent 1989 crackdown on the Tiananmen Square pro-democracy movement.
  • Leveraging the potential of Special Administrative Regions(SARs): China’s strategy is to leverage the inherent economic, trade, and technological potential of two ‘Special Administrative Regions’ (SARs)-Hong Kong and Macau—to augment the growth of the mainland.
  • Expanding cooperation: Beijing plans to build a high-quality ‘Guangdong-Hong Kong-Macau Greater Bay Area’ so as to expand cooperation between these regions.
  • Building platforms: It also encompasses building platforms such as Qianhai in Shenzhen, Hengqin in Zhuhai, Nansha in Guangzhou, and Shenzhen-Hong Kong ‘Science and Technology Innovation Cooperation Zone’.
  • Raising national awareness and patriotism: The Communist leadership also seeks to systematically enhance cross-border exchanges and cooperation to raise national awareness and patriotism among citizens of Hong Kong.
  • Safeguarding national security: The leadership will effectively employ a combination of instruments including economic means, legal system enforcement mechanisms and coercive policing measures to control Hong Kong to safeguard national security and integrity.
  • Parliament only for loyalists: China has introduced ‘patriots’ political reforms which ensure that only loyalists can run for parliament and top executive positions.

 

Insta Links:

China-Hong Kong relations

New Security Law 2020

 

Practice Questions:

Q. The tighter controls under a national security law in Hong Kong in 2020 have prompted some people to leave for other countries. Critically analyze. (15M)

 

Q. Which of the following is/are part of the Special Administration Regions(SARS) of China?

  1. Hong Kong
  2. Taiwan
  3. Macau
  4. Tibet

Select the correct answer using the codes given below:

a. 1 only

b. 1 and 3 only

c. 2, 3 and 4 only

d. 1, 2, 3 and 4

Ans: (b)

Justification:

  • The special administrative regions (SAR) of the People’s Republic of China are one of the provincial-level administrative divisions of the People’s Republic of China directly under the control of its Central People’s Government (State Council), being integral areas of the country.
  • At present, there are two SARs established according to the Constitution, namely the Hong Kong SAR and the Macau SAR, former British and Portuguese dependencies respectively.

 

Source: The Hindu, The Indian Express

Financial Services Institutions Bureau (FSIB)

GS Paper 3

Syllabus: Indian Economy

 

Context:

he government has transformed Banks Board Bureau (BBB) into Financial Services Institutions Bureau (FSIB) by making some amendments.

 

Financial Services Institutions Bureau

Aim:

  • It will make recommendations for appointments of full-time directors as well as the non-executive chairman of banks and financial institutions.
  • Issues guidelines to select general managers and directors of public sector general insurance companies.

Amendment required:

  • The Appointments Committee of the Cabinet (ACC) has asked the Department of Financial Services to carry out necessary modifications in the Nationalized Banks (Management and Miscellaneous Provisions) Scheme of 1970/1980 with the approval of the Finance Minister, and then notify the government resolution for establishing FSIB as a single entity

 

Why the need for revamping:-

  • Delhi HC order: Delhi high court last year observed that the bureau was not a competent body to recommend appointments at PSU general insurers, and held that circulars enabling BBB to select general managers and directors of PSU insurers were not legally valid. Thus, the need for an overhaul.
  • Slow recruitment process: Despite the BBB’s good work, recruitment to a higher level has been slow. Also, BBB’s extended two-year term ended, and new recruitments can restart only when a new body is in place.

 

About BBB:

It was set up in February 2016 as an autonomous body– based on the recommendations of the RBI-appointed Nayak Committee.

  • It was part of the Indradhanush Plan.
  • It will make recommendations for the appointment of whole-time directors as well as non-executive chairpersons of Public Sector Banks (PSBs) and state-owned financial institutions.
  • The Ministry of Finance takes the final decision on the appointments in consultation with the Prime Minister’s Office.

 

Composition:

Banks Board Bureau comprises the Chairman, three ex-officio members i.e Secretary, Department of Public Enterprises, Secretary of the Department of Financial Services and Deputy Governor of the Reserve Bank of India, and five expert members, two of which are from the private sector.

 

Practice Questions:

Q. With reference of the ‘Banks Board Bureau (BBB)’, which of the following statements are correct? (UPSC 2022)

  1. The Governor of RBI is the Chairman of BBB.
  2. BBB recommends for the selection of heads for Public Sector Banks.
  3. BBB helps the Public Sector Banks in Developing strategies and capital raising plans.

Select the correct answer using the code given below:

a. 1 and 2 only

b. 2 and 3 only

c. 1 and 3 only

d. 1, 2 and 2

Answer: b

 

BBB is a self-governing autonomous and advisory body of the Central Government to improve the management of public sector banks.
Statement 1 is incorrect: The Chairman is selected by the central government and the RBI governor does not head it.

Statements 2 and 3 are correct: Banks Board Bureau recommends the selection of head for Public Sector Banks. It also develops strategies for raising capital and improving the performance of PSBs.

 

Q. Consider the following statements about Banks Board Bureau :

  1. The BBB is a not-for-profit organisation registered under Section 8 of the Companies Act 2013.
  2. The BBB was the part of Indradhanush Plan of government.
  3. It will make recommendations for the appointment of whole-time directors as well as non-executive chairpersons of Public Sector Banks and state-owned financial institutions.

Which of the given above statements is/are correct?

  1. 1 and 2 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 2 and 3

Ans: B

Source: The Hindu

Dumping

GS Paper 3

Syllabus: Effects of liberalisation on the economy (post-1991 changes)

 

Context:

In recent times, India’s optical fibre industry has seen unfair competition from cheap imports from China, Indonesia and South Korea. These countries have been dumping their products in India at rates lower than the market price.

 

What is dumping?

When the goods are exported by a country to a foreign country at a price lower than the price it charges in its own home market is called dumping.

  • Dumping is a situation of international price discrimination this unfair trade practice has a negative impact on international trade.

 

Dumping is legal: Under World Trade Organization (WTO) rules, dumping is illegal only if the foreign country can reliably show the negative effects the exporting firm has caused its domestic producers.

  • In order to protect domestic producers from dumping, countries use tariffs and quotas.

 

What is “Anti-dumping”?

Anti-dumping is a protectionist tariff, imposed by a domestic government on foreign imports that are at a price lower than the price it normally charges in its own home market.

  • Anti-dumping duty is imposed as a remedy to the distortive trade which arises due to the dumping of goods. This tool of fair competition is permitted by the WTO.
  • From a long-term perspective, anti-dumping duties can reduce the international competition of domestic companies producing similar goods.

 

Difference between anti-dumping duty and Countervailing duty?

Countervailing duty: It is a customs duty on those goods that have received some kind of government subsidies whether in the originating or exporting country.

  • Whereas, anti-dumping duty is a form of customs duty on imports. It actually provides protection against the dumping of goods at prices substantially lower than the normal value.

 

Sunset clause for Anti-Dumping Duty:

Unless revoked earlier, the validity of anti-dumping duty is for five years from the date of imposition. It can be extended for a further period of five years through a sunset or expiry review investigation.

 

Which authority in India administers trade remedial measures like anti-dumping?

Directorate General of Trade Remedies, the apex national authority under the Ministry of Commerce and Industry administers all trade remedial measures.

  • Trade remedial measures include anti-dumping, countervailing duties and safeguard measures.
  • Its job is to provide trade defence support to the domestic industry.
  • It provides safeguards to the exporters in dealing with increasing instances of trade remedy investigations instituted against them by other countries.

 

Insta Links

On anti-dumping duty on Chinese goods

 

Practice Questions

Q. Consider the following options and select the incorrect option with respect to the concept of ‘dumping’-

  1. Directorate General of Trade Remedies, the apex national authority under the Ministry of Commerce and Industry which administers all trade remedial measures including dumping.
  2. Dumping is the ability to flood a market with product prices that are often considered unfair.
  3. The WTO Agreement regulates the actions of companies engaged in “dumping”.
  4. Anti-dumping duties can reduce the international competition of domestic companies producing similar goods.

 

Q. Consider the following statements: (UPSC CSE 2017)

  1. India has ratified the Trade Facilitation Agreement (TFA) of WTO.
  2. TFA is a part of WTO’s Bali Ministerial Package of 2013.
  3. TFA came into force in January 2016.

Which of the statements given above is/are correct?

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3

Answer: A

Sources: The Indian Express 

Forest (Conservation) Rules, 2022 Notified

GS Paper 3

Syllabus: Environment Conservation

Context:

MoEFCC has notified Forest (conservation) Rules 2022, under the Forest (conservation) Act, 1980.

New Rules says:

  • On monitoring: Constitute an advisory committee, a regional empowered committee and a screening committee at the State/UT
  • Integrated Regional Office: It will examine all the linear projects (e.g. roads, highways, etc) involving land up to 40 hectares and the use of forest land up to 0.7 canopy density
  • Time frame: A fixed time for quicker review of each project
  • Responsibility to states: States are given the responsibility of settling forest rights of forest dwellers (Forest Rights Act, 2006) and allowing diversion of forest land.
  • Allows compensatory afforestation (CA) in other states: If the state already has over two-thirds area under green cover or over one-third area under forest cover, then CA could be taken in other states/UTs where the cover is less than 20%

 

Previously, the government has started to rank state environment impact assessment authorities (SEIAAs) based on the speed at which they cleared proposals and provided environmental clearance for projects.

MoEF proposes amendments in Environment Protection Act 1986

  • Decriminalize provisions: The ministry has proposed the removal of imprisonment as a penalty for the “less severe’’ contraventions and replace it with monetary penalty.
    • However, serious violations of EPA which lead to grievous injury or loss of life shall be covered under the provision of Indian Penal Code.
    • EPA provisions will be in force for penal provisions of the single use plastic ban which has come into force from today.
    • Current Provisions: Under the current provisions of the EPA, the violator can be punished with imprisonment up to five years or with a fine up to Rs 1,00,000, or with both.
  • Creation of an “Environmental Protection Fund’’: To remit the amount of penalty

About EPA: Enacted under Article 253 of the Constitution, the EPA came into force in 1986. The Act establishes “the framework for studying, planning, and implementing long-term requirements of environmental safety and laying down a system of speedy and adequate response to situations threatening the environment.”

 

Three main entities responsible for environmental Laws in India:

  • Ministry of Environment, Forest, and Climate Change
  • Central Pollution Control Board at the National level
  • State Pollution Control Boards at the State level

The main environmental laws in India are: 

  • Environmental (Protection) Act 1986
  • Water (Prevention and Control of Pollution) Act 1974
  • Air (Prevention and Control of Pollution) Act 1981
  • Rules made under the above acts

 

Insta Links

Q. Explain the significance of the Environment Impact Assessment (EIA) process in the Indian context. Also, highlight the concerns associated with it. (15M)

 

Practice Questions:

Q. The Genetic Engineering Appraisal Committee is constituted under the (UPSC CSE 2015)

(a) Food Safety and Standards Act, 2006

(b) Geographical Indications of Goods (Registration and Protection) Act, 1999

(c) Environment (Protection) Act, 1986

(d) Wildlife (Protection) Act, 1972

Answer: C

The Genetic Engineering Appraisal Committee (GEAC) is a statutory body constituted under the ‘Rules for the Manufacture, Use /Import /Export and Storage of Hazardous Microorganisms/Genetically Engineering Organisms or Cells, 1989‘ notified under the Environment (Protection) Act, 1986.

 

Q. Consider the following statements: (UPSC CSE 2014)

  1. Animal Welfare Board of India is established under the Environment (Protection) Act, 1986.
  2. National Tiger Conservation Authority is a statutory body.
  3. National Ganga River Basin Authority is chaired by the Prime Minister.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 and 3 only

(c) 2 only

(d) 1, 2 and 3

Answer: B

The Animal Welfare Board of India was established in 1962 under The Prevention of Cruelty to Animals Act, 1960. The National Tiger Conservation Authority  (chairman: Minister for Environment and Forests) is a statutory body. National Ganga River Basin Authority (chairman: PM) was established by the Central Government of India, in 2009.

Source: Indian Express

Content for Mains Enrichment (Ethics/Essay):

Tamil Nadu’s forest man

Context:

Environmentalist D Saravanan’s efforts have turned over 40 hectares of barren land into a lush, indigenous forest called  Aranya Forests

From once being a barren land with just a handful of trees, the forest today is home to more than 700 native plant species.

The growth of the forest over the last three decades has had a huge ecological impact on the area, increasing the rate of rainfall and reducing air pollution.

How does he do it?

The land where Aranya now stands had a unique topography of clay and Cuddalore sandstone structures, with no topsoil. The first step was to bring water into the land and prevent runoffs. For this, Saravanan built contour bunds to arrest water and maintain groundwater recharge. He also planted grass to relax the soil and restore moisture content.

Next, to curb the spread of invasive species and preserve indigenous varieties, Saravanan travelled across the eastern coast of Tamil Nadu, from Chennai to Kanyakumari. He visited sacred groves to collect indigenous seeds suitable for the land.

He continues to plant trees and educate the local community and students on the importance of indigenous forests. He also works with local and regional authorities on forestry and wildlife management.

 

Current Affairs

Facts For Prelims

 

Ashadhi Bij

Kutchi community of Gujarat celebrates their new year on this day.
Ashadhi Bij falls on the second day of Shukla paksha of Ashada month of the Hindu calendar.

The festival is associated with the beginning of rains in the Kutch region of Gujarat.

During Ashadhi Bij, the moisture in the atmosphere is checked to predict which crop would do best in the coming monsoon.

 

Current Affairs

 

Study to trace genetic links to Harappan race

Context:

Top archaeologist behind Rakhigarhi, Harappan site to analyze DNA at CSIR-CCMB

Samples of the ancient DNA and modern-day samples collection will help in comparative analysis to understand the population composition.

Rakhigarhi Harappan site is spread over 550 hectares of which just 50 hectares are protected with the remaining area either having modern structures or agricultural fields. It is a much bigger site than even Mohenjo-Daro which is about 300 hectares.

Current Affairs

 

International Cooperatives Day

The first Saturday of July is celebrated as Cooperatives Day. This year cooperatives all around the world will celebrate the 100th International Day of Cooperatives (#CoopsDay). A decade on from the UN International Year of Cooperatives, which showcased the unique contribution of cooperatives to making the world a better place, this year’s #CoopsDay slogan “Cooperatives Build a Better World” echoes the theme of the International Year.

 

Current Affairs 

 

 

IDIOT syndrome:

The Internet Derived Information Obstructing Treatment (IDIOT) syndrome medically called cyberchondria is when people blindly trust medical information available online and stop their treatment abruptly thus leading to making treatment for any disease hard for doctors.

Due to innovations in technology, the expectations of people and patients on doctors are increasing.

Current Affairs 

 

India’s largest floating 100-MW solar power project is now fully operational in Telangana

It is powered with advanced technology and environment-friendly features. The project spreads over 500 acres of its reservoir, with the presence of floating solar panels, the evaporation rate from water bodies is reduced, thus helping in water conservation.

 

Current Affairs

 

Clubbing of Cases

A person cannot be prosecuted more than once for the same offence.

  • Article 20(2) of the Constitution guarantees the right against double jeopardy.
  • Multiple FIRs on the same incident would virtually mean multiple trials. Approaching the Supreme Court in such situations is a procedural safeguard against excessive litigation.

Other judgements:

  • In T T Anthony v State of Kerala, a 2001 verdict, the Supreme Court held that there cannot be a “second FIR” on the same issue.
  • In 2020, the Supreme Court in the case of Arnab Goswami v Union of India expanded this ruling and said that similar FIRs in different jurisdictions also violate fundamental rights.

 

Hive-Killing Mite: Varroa

Context: Australia is racing to protect honey bees after the discovery of a mite that has ravaged hives around the world

About Varroa: Varroa destructor is an external parasitic mite that attacks and feeds on the honey bees Apis cerana and Apis mellifera. The disease caused by the mites is called varroosis. The Varroa mite can reproduce only in a honey bee colony. It attaches to the body of the bee and weakens the bee by sucking fat bodies.

Heavy infestations with the varroa mite cause a range of maladies among European honey bees that weaken and reduce populations, leading to colony death. The parasite does not affect smaller, stingless native bees.

  • Bees are some of the most important pollinators, ensuring food and food security, sustainable agriculture, and biodiversity.

 

Current Affairs

 

Windfall tax

Context: Government slapped a windfall tax on domestic crude oil producers, imposed export duties on petrol, diesel and aviation turbine fuel (ATF), and hiked the import duty on gold in efforts to reduce pressure on the rupee, rein in the current account deficit (CAD), and increase the domestic supply of petroleum products.

What is windfall tax?

A windfall tax is a higher tax rate on sudden big profits levied on a particular company or industry.

  • Domestic producers sell crude oil to domestic refineries at international parity prices, thus making windfall gains.
  • g. ONGC reported bumper profits in the March quarter (when international prices soared to a near 14-year high of $139 per barrel).

 

Current Affairs

 

Schemes for MSME

Context: PM participated in the ‘Udyami Bharat’ programme and launched several key initiatives for MSMEs.

RAMP Scheme: Raising and Accelerating MSME performance: Will help in capacity building and increasing the coverage of MSME schemes

CBFTE: Capacity building of First-time MSME Exporters scheme: Increase export from the MSME sector

PMEGP: PM Employment Generation Programme: Under PMEGP, employment opportunities are provided to unemployed youth by assisting in setting up Micro-enterprise in the non-farm sector. KVIC is the nodal body.

  • Now, applicants can apply from Aspirational districts and can be transgenders as well. Also, the maximum project cost has been increased from 25 lakhs to 50 lakhs (for manufacturing) and from 10 lakh to 20 lakh (for the service sector)

MSME Sector: It contributes to 30% of India’s GDP, nearly 50% of exports and creates over 10cr employment.

Other Schemes for MSME: MUDRA Yojana, Emergency Credit Line Guarantee Scheme (ECLGS), Scheme of Fund for Regeneration of Traditional Industries (SFURTI) etc.

 

Current Affairs 

 

 

DRDO’s Unmanned Aircraft

Context: DRDO successfully carried out the maiden flight of the Autonomous Flying Wing Technology Demonstrator from the Aeronautical Test Range in Karnataka’s Chitradurga.

Significance: This flight marks a major milestone in terms of proving critical technologies towards the development of future unmanned aircraft and is a significant step towards self-reliance in such strategic defence technologies.”

Features:

  • The UAV is designed and developed by Aeronautical Development Establishment (ADE), Bengaluru, (a lab of DRDO)
  • It is powered by a small turbofan engine (see diagram)
  • The vehicle’s airframe, undercarriage and entire flight control, as well as avionics systems used for the aircraft, have been developed indigenously.

UAVs presently being used: Ghatak (India), Reaper (USA), Predator (USA).

Current Affairs

 


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