Wednesday, 29th June 2022

Table of contents

1   News Snapshot

●  

NITI Aayog’s report on Gig Economy

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PM Modi’s gifts to G7 leaders - Edukemy Current Affairs

●  

The G7 plan to counter the Belt and Road initiative

●  

The G7 plan to counter the BRI

2   This Day in History

●  

Damodar Dharmananda Kosambi - Edukemy Current Affairs

3   Terms & Concepts

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ALH-MkIII - Edukemy Current Affairs

●  

Mithun - Edukemy Current Affairs

●  

Banda Singh Bahadur - Edukemy Current Affairs

●  

NASA’s CAPSTONE mission - Edukemy Current Affairs

4   Editorial of the day

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Finding Truth in Inequality: Economic Times

●  

The G7 plan to rival the Belt and Road initiative

5   Case Study of the Day

●  

Biodegradable Solutions - Edukemy Current Affairs

.... Show less Show more
News Snapshot

NITI Aayog’s report on Gig Economy


In News

NITI Aayog has released the report ‘India's Booming Gig and Platform Economy’.

About the Report

  • Under the report, the government think tank has made observations on labour force participation of women and persons with disabilities.
  • The purpose of this study is to view gig work, with a focus on its subset, platform work, through economic as well as worker perspectives.

Findings and Recommendations of the Report

Who are Gig Workers?

  • A gig worker means a person who performs work or participates in a work arrangement and earns from such activities outside of traditional employer-employee relationships.
  • Classification: Gig workers can be broadly classified into platform and non-platform workers.
    • Platform workers are those whose work is based on online software apps or digital platforms.
    • Non-platform gig workers are generally casual wage workers, working part-time or full- time.
  • Legal Backing: Currently, there exists only a single piece of legislation that attempts to define gig workers in India, and it is the Code on Social Security Bill 2019 (CSS).

For Understanding the nuances of Gig and Platform Economy, refer to:

https://edukemy.com/current-affairs/gazette/2021-06-10/platform-economy

https://edukemy.com/current-affairs/gazette/2021-08-04/gig-economy-to-boost-employment-of-indian-women-in-formal-sector

Sources:

Keywords: Gig Workers, Gig economy, economy, NITI aayog, GS Paper 3
News Snapshot

PM Modi’s gifts to G7 leaders - Edukemy Current Affairs


In News

During the G7 meet in Germany, the Prime Minister had gifted a gulabi meenakari brooch and cufflink set to the US President Joe Biden. 

About the Gifted Indian Crafts

Source:

Image source:

Keywords: GS Paper 1, Art and Culture
News Snapshot

The G7 plan to counter the Belt and Road initiative


In News

The G7 countries, in the ongoing Leaders’ Summit in Germany, have officially launched the Partnership for Global Infrastructure and Investment (PGII).

About the News

  • The PGII is a joint initiative to fund infrastructure projects in developing countries and is being viewed as the bloc’s counter to China’s Belt and Road Initiative.
  • Through this initiative, the countries aim to mobilise nearly $600 billion from the G7 by 2027 to invest in critical infrastructure that would improve lives and deliver real gains for all the economies and its citizens.

Partnership for Global Infrastructure and Investment (PGII)

  • What is it? It is a $600-billion global infrastructure investment partnership aimed at helping developing countries.
  • Origin: It was first announced in June 2021 during the G7 Summit in the UK termed as Build Back Better World (B3W) framework.

  • Objective: The objective of PGII is to help secure funding for countries to build critical infrastructure such as roads, ports, bridges, communication setups, etc. to enhance global trade and cooperation.
  • Core tenets: Alongside, it would be a transparent initiative that will help developing countries make improvements in four core areas: 1) Healthcare, 2) Digital connectivity, 3) Gender equality and equity and 4) Climate and energy security.
  • Funds directed under the plan:
    • In India, the US International Development Finance Corporation, the development bank of the country, will invest up to $30 million in companies that “increase food security and promote both climate resilience and climate adaptation in India, as well as improve the profitability and agricultural productivity of smallholder farms.”
    • Apart from India, projects have been announced in countries across West Africa, Southeast Asia, and South America.

What is China’s BRI?

  • What: Belt and Road Initiative of China, launched in 2013, aims to revive the ancient trade routes crossing to and from China–from Rome in Europe to East Asia.
  • Objective: Under this, the Chinese government helped in providing loans for infrastructure projects to various countries, and in many cases, Chinese companies were awarded contracts for carrying out the work. This helped China mark its footprints at a global level.
  • Criticism: However, China was criticised for providing unsustainable debts to countries that will be unable to repay them.
  • India’s View: India opposed the BRI as it included the China-Pakistan Economic Corridor, which connected Kashgar in China with the Gwadar port in Pakistan via Pakistan-occupied Kashmir. 

Source:

Image source:

Keywords: GS Paper 2: International Relations: Partnership for Global Infrastructure and Investment (PGII), G7 meet, China’s Belt and Road Initiative, Build Back Better World (B3W) framework.
News Snapshot

The G7 plan to counter the BRI


In News

The G7 countries, in the ongoing Leaders’ Summit in Germany, have officially launched the Partnership for Global Infrastructure and Investment (PGII).

About the News

  • The PGII is a joint initiative to fund infrastructure projects in developing countries and is being viewed as the bloc’s counter to China’s Belt and Road Initiative.
  • Through this initiative, the countries aim to mobilise nearly $600 billion from the G7 by 2027 to invest in critical infrastructure that would improve lives and deliver real gains for all the economies and its citizens.

Partnership for Global Infrastructure and Investment (PGII)

  • What is it? It is a $600-billion global infrastructure investment partnership aimed at helping developing countries.
  • Origin: It was first announced in June 2021 during the G7 Summit in the UK termed as Build Back Better World (B3W) framework.

  • Objective: The objective of PGII is to help secure funding for countries to build critical infrastructure such as roads, ports, bridges, communication setups, etc. to enhance global trade and cooperation.
  • Core tenets: Alongside, it would be a transparent initiative that will help developing countries make improvements in four core areas: 1) Healthcare, 2) Digital connectivity, 3) Gender equality and equity and 4) Climate and energy security.
  • Funds directed under the plan:
    • In India, the US International Development Finance Corporation, the development bank of the country, will invest up to $30 million in companies that “increase food security and promote both climate resilience and climate adaptation in India, as well as improve the profitability and agricultural productivity of smallholder farms.”
    • Apart from India, projects have been announced in countries across West Africa, Southeast Asia, and South America.

What is China’s BRI?

  • What: Belt and Road Initiative of China, launched in 2013, aims to revive the ancient trade routes crossing to and from China–from Rome in Europe to East Asia.
  • Objective: Under this, the Chinese government helped in providing loans for infrastructure projects to various countries, and in many cases, Chinese companies were awarded contracts for carrying out the work. This helped China mark its footprints at a global level.
  • Criticism: However, China was criticised for providing unsustainable debts to countries that will be unable to repay them.
  • India’s View: India opposed the BRI as it included the China-Pakistan Economic Corridor, which connected Kashgar in China with the Gwadar port in Pakistan via Pakistan-occupied Kashmir. 

Source:

Image source:

Keywords: GS Paper 2: International Relations: Partnership for Global Infrastructure and Investment (PGII), G7 meet, China’s Belt and Road Initiative, Build Back Better World (B3W) framework.
This Day in History

Damodar Dharmananda Kosambi - Edukemy Current Affairs


On June 29, 1966, Damodar Dharmananda Kosambi breathed his last. He was an Indian mathematician, statistician, philologist, historian, and polymath. He contributed to genetics by introducing Kosambi map function and is well known for his work in numismatics and for compiling critical editions of ancient Sanskrit texts. Damodar Dharmanand Kosambi gave emphasis to Buddhism and its literature in the Pali language.

Damodar Dharmanand Kosambi evolved a new approach to study Indian history, scientific methodology, and modern technique of interpretation, selection, and analysis of basic problems in the society. His written works are An Introduction to the Study of Indian History (1956, 1975), Myth and Realty: Studies in the Formation of Indian Culture (1962), The Culture and Civilization of Ancient India in Historical Outline (1965, 1970), Indian Numismatics (1981).

Source:

Keywords: Damodar Dharmanand Kosambi, Mathematician, History, Genetics, GS Paper 1
Terms & Concepts

ALH-MkIII - Edukemy Current Affairs


  • Context: The Coast Guard has commissioned an indigenous Advanced Light Helicopter (ALH)-MkIII squadron, 835 Squadron (CG), at the air enclave at Pornandar in Gujarat.
  • The ALH helicopters have been indigenously manufactured by Hindustan Aeronautics Ltd. (HAL).

  • They feature state-of-the-art equipment, including advanced radar as well as electro optical sensors, Shakti engines, full glass cockpit, high-intensity searchlight, advanced communication systems, automatic identification system as well as search and rescue (SAR) homer.
  • he features enable them to undertake maritime reconnaissance as well as carry out SAR at extended ranges even while operating from ships during both day and night.
  • The aircraft has the ability to switch roles from an offensive platform with heavy machine gun to that of a benign one carrying a medical intensive care unit.

Source:

Keywords: ALH-MkIII, Chopper, Defence, GS Paper 2
Terms & Concepts

Mithun - Edukemy Current Affairs


  • Context: The Union Minister of Agriculture and Farmers Welfare had recently visited the ICAR’s National Research Center on Mithun (Nagaland).
  • Mithun or Gayal (Bos frontalis) is an important endemic bovine species found in forests of North Eastern States and neighboring countries like Myanmar, Bhutan, Bangladesh, China etc.

  • It inhabits hilly forests at an altitude of 1000-3000 m and is reared for its meat, milk, leather.
  • Popularly known as 'Cattle of Mountain', it is reared by indigenous tribes of Arunachal Pradesh, Nagaland, Mizoram and Manipur.
  • It is the State Animal of Arunachal Pradesh and Nagaland.

Source:

Image source:

Keywords: GS Paper 3: Environment and Ecology- Mithun, bovine species, endemic species, 'Cattle of Mountain', State Animal.
Terms & Concepts

Banda Singh Bahadur - Edukemy Current Affairs


  • Context: National Monuments Authority has recently observed the Martyrdom Day of Baba Banda Singh Bahadur at Red Fort in New Delhi.
  • Banda Singh Bahadur (born Lachman Dev) (1670 – 1716), was a Sikh warrior and a commander of Khalsa army.

  • At age 15 he left home to become a Hindu ascetic, and was given the name ‘’Madho Das’’.
  • He established a monastery at Nanded, on the bank of the river Godavari, where in 1708 he became a disciple of, Guru Gobind Singh, who gave him the new name of Banda Bahadur.
  • He came to Khanda in Sonipat and assembled a fighting force and led the struggle against the Mughal Empire.
  • His first major action was the sacking of the Mughal provincial capital, Samana, in 1709.
  • After establishing his authority and Khalsa rule in Punjab, he abolished the zamindari system, and granted property rights to the tillers of the land.
  • Banda Singh was captured by the Mughals and tortured to death in 1715-1716.

Source:

Image source:

Keywords: GS Paper 1: History- Banda Singh Bahadur, National Monuments Authority, Khalsa army, Madho Das, Guru Gobind Singh, Mughal empire, zamindari system.
Terms & Concepts

NASA’s CAPSTONE mission - Edukemy Current Affairs


  • Context: A small NASA-financed spacecraft has been recently launched from New Zealand kicking off NASA’s plans to send astronauts back to the moon in a few years.
  • The spacecraft, called CAPSTONE (Cislunar Autonomous Positioning System Technology Operations and Navigation Experiment), is about the size of a microwave oven.
  • It will study a specific orbit where NASA plans to build a small space station for astronauts to stop at before and after going to the moon’s surface.
  • For a spacecraft headed to the moon, CAPSTONE is inexpensive, costing just less than $30 million.

  • After arriving at the moon, the mission will last six months, with the potential to be extended another year or more.
  • Its main task is to explore how best to stay in the desired orbit. By measuring how long it takes radio signals to travel back and forth to Earth, the spacecraft triangulates its position, then nudges itself if it is off course.
  • CAPSTONE will also test an alternative method of finding its position by working with other spacecraft circling the moon.

Source:

Image source:

Keywords: GS Paper 3: Science and Technology- NASA’s CAPSTONE mission, Lunar mission, near rectilinear halo orbit.
Editorial of the day

Finding Truth in Inequality: Economic Times


Essence: Inequality is an important issue and how to bridge the gap remains a policy challenge. How one perceives inequality and reacts to it also depends on whether in absolute terms their living standard is improving or otherwise. Measuring inequality is equally tricky.  Author concludes that if we go by the Kuznets-Oshima hypothesis which says that growth is inequality-enhancing, decline in inequality may be pointing towards lower economic growth.

Why should you read this article?

  • To understand challenges related to defining inequality and understanding data around it.

Source:

Keywords: Inequality, Gini Coefficient, Growth and economy relation, UPSC, GS Paper 3, economy
Editorial of the day

The G7 plan to rival the Belt and Road initiative


Essence: The recent G7 summit and its ambitious Partnership for Global Infrastructure and Investment (PGII) intends to provide "game-changing" and "transparent" infrastructure projects to developing and middle-income nations.  Article discusses the purpose and the kind of projects that will be undertaken by PGII. The article also compares the PGII to China's BRI in several aspects. India has previously launched a PGII project, but it chose not to participate in China's BRI because of concern that Beijing will use Pakistan as leverage to enhance its influence in the Indian Ocean region.

Why should you read this article?

  • To understand the significance and goals of the G7’s Partnership for Global Infrastructure and Investment.
  • To comprehend the features that make China's BRI analogous to the PGII of the G7.

Source:

Keywords: G7, IR, Belt and Road Initiative, PGII, GS Paper 2
Case Study of the Day

Biodegradable Solutions - Edukemy Current Affairs


  • More than half of the world’s plastic and paper is used for single-use product. These products also lead to an annual cutting of 7 billion trees.
  • Such harsh realities prompted 11-year-old Adithyaa Tenith to create 'Banana Leaf Technology' in 2010.

About the Initiative

  • Apart from the ecological concerns, Adithyaa was motivated to make the tradition of using biodegradable banana leaves a global habit.
  • With trial and error, Adithyaa was finally able to realize his dream of enhancing the shelf life of banana leaves without any addition of chemicals. This earned him his first international award at the Global Invention Fair in Texas in 2014.
  • The technology preserves banana leaves for over three years without the use of any chemicals. It also increases its durability.

  • Preserved leaves can resist extreme temperatures and hold more weight than the original
  • The manufacturing cost of these plates, cups and gift boxes is very low and they can also be used as manure or fodder at the end.
  • Today, Adithyaa is using this technology to replace single-use plastic, one banana leaf at a time.

Quote: “Environment is no one’s property to destroy; it’s everyone’s responsibility to protect.”

Source:

Keywords: Single-use plastic, Bio-degradable solutions, Banana leaves, Ecology, environment, GS Paper 3, Case study
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