Thursday, 17th November 2022

Table of contents

1   News Snapshot

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India’s net zero strategy on Climate change

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Human Rights Review - Edukemy Current Affairs

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Human Rights and its Features:

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Sustainable cold chains tackle climate: UNEP & FAO

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Revised National List of Essential Medicines (NLEM) 2022

2   Terms & Concepts

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Vostro Accounts - Edukemy Current Affairs

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Climate change performance index

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Anti-Conversion Laws in India - Edukemy Current Affairs

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LeadIT initiative - Edukemy Current Affairs

3   Editorial of the day

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Undermining federalism, eroding States’ autonomy: The Hindu

4   News Capsules

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Global Offshore Wind Alliance (GOWA)

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Ninth Schedule of the Constitution

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Currency Monitoring List - Edukemy Current Affairs

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NFRA Releases Audit Quality Guidelines

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MMLPs - Edukemy Current Affairs

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Vijayanagar Empire - Edukemy Current Affairs

5   Case Study of the Day

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Sustainable Agriculture: DRR DHAN 60

.... Show less Show more
News Snapshot

India’s net zero strategy on Climate change


In news

India recently submitted its Long-Term Low Emission Development Strategy to the United Nations Framework Convention on Climate Change (UNFCCC) at the ongoing 27th Conference of Parties (COP27) in Sharm el-Sheikh, Egypt.

Beyond News:

  • It laid out the steps that India will take to achieve net zero by 2070.

About Net Zero Target

  • The term "carbon neutrality" does not imply that a nation would reduce its emissions to zero.
  • It refers to a situation when a nation's emissions are balanced out by the removal and absorption of greenhouse gases from the atmosphere.
  • More carbon sinks, like forests, can be developed to increase the absorption of the emissions.
  • Modern methods like carbon capture and storage are needed to remove emissions from the environment.
  • By the middle of the century, or by 2050, more than 70 nations have pledged to achieve Net Zero emissions.
  • India made a commitment at the conference of parties-26 (COP) summit to reduce its emissions to zero by 2070.
  • All countries are to strive to formulate LT-LEDS under Article 4.19 of the Paris Agreement under UNFCCC.
    • According to the Paris Agreement, nations must describe how they will transform their economies so they can work toward the larger climate objective of cutting emissions by 45% by 2030 and reaching net zero around 2050 rather than just achieving short-term Nationally Determined Contributions (NDCs) targets.
  • 4 pillars on which LT-LEDS is based include:
  • India has contributed little to global warming.
  • India has significant energy needs for its development.
  • Low-carbon development strategies and pursuing them, per national circumstances.
  • India needs to build climate resilience.
  • The mission of LiFE, Lifestyle for the Environment, also informs the design of LT-LEDS.
    • LiFE argues for a paradigm shift away from mindless and harmful consumption and toward conscious and purposeful utilization.

7 key transitions to low-carbon development (LCD) pathways: Strategies and Elements:

  1. LCD of Electricity System:
    • R& D into Green Hydrogen, fuel cells, biofuels, etc.
    • Rational utilization of fossil fuel resources.
  2. Develop an Integrated, Transport System Improved fuel efficiency through fleet modernization:
    • Improved fuel efficiency through fleet modernization.
    • Electrification across multiple modes.
  3. Energy and Material Efficiency & Sustainable Urbanization
    • Climate responsive and resilient building design.
    • Low-carbon municipal service delivery.
  4. Decoupling of Growth from Emission:
    • Enhance material efficiency, and low carbon options in hard-to-abate sectors e.g., in Steel, cement, etc
  5. CO2 removal & related engineering solutions:
    • Explore public-private partnership frameworks.
  6. Enhancement of Forest and Vegetative Cover:
    • Restoration, Conservation, and Management of Trees Outside Forests, Green Cover.
  7. Finance of LCD:
    • 6–8 trillion USD will be required for India.
    • Private finance through equity investments, bonds, and FDI.

 Content Source Link:

  •  https://www.livemint.com/news/india/india-submits-its-long-term-low-emission-development-strategy-to-unfccc/amp-11668439006686.html
  • https://indianexpress.com/article/opinion/columns/cop-27-climate-change-united-nations-carbon-india-target-footprint-8270561/
  • https://www.hindustantimes.com/india-news/india-to-file-its-long-term-net-zero-plan-soon-at-cop27-in-egypt-101668106790317.html

 

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Keywords: GS paper 2 & 3, Renewable Energy, Government Policies & Interventions
News Snapshot

Human Rights Review - Edukemy Current Affairs


In News:

  • India's human rights record was examined as part of the Universal Period Review (process), a peer-based evaluation mechanism under the UN Human Rights Council.
  • India has been pulled up for its human rights situation, ranging from the tightening restrictions on civil society to the broad use of anti-terrorism legislation.
  • India on its behalf defended actions on grounds of illegal practices, violations of foreign exchange management rules and tax laws of the country.
  • India is home to over 100,000 vibrant, proactive and independent civil society organisations and NGOs, which play an important role in the protection and promotion of human rights.

Major highlights:

Allegations/recommendations

Clarification/Stand

Curbs on civil society:

  • Curbs on human rights activists to the foreign funding of NGOs.
  • Urgent review of anti-terror laws to strengthen freedom of expression.
  • Prolonged detentions of human rights defenders and activists, often in a pre-trial status.
  • Legislation, especially the UAPA be compliant with international human rights laws to strengthen media freedom.
  • Need for transparency of license adjudications related to the Foreign Contribution Regulation Act (FCRA)
  • Bolstering of the Whistle-blowers Protection Act, 2014 and providing universal protection to all whistle-blowers.
  • India cautioned the role of human rights defenders (HRDs), civil society groups and journalists be in conformity with the law of the land.
  • RTI Act and the Whistle-blowers Act are examples of empowering legislations besides approach to judiciary for redressal of violations.
  • FCRA actions taken against some organisations due to their illegal practices, and wilful and continuing violations of foreign exchange management rules and tax laws of India.
  • Laws like UAPA, the Armed Forces (Special Powers) Act (AFSPA) and the National Security Act are needed to deal with the menace of terrorism and protect the sovereignty and integrity of India.

Freedom of expression and opinion:

  • India needs to improve freedom of expression and the right to peaceful assembly.
  • Repeal of crimes of sedition and criminal defamation in the Indian Penal Code.
  • Strengthening a safe space for journalists and civil society organisations.

 

  • Constitution guarantees the fundamental right to freedom of speech and expression.
  • Rights are not absolute in nature and subject to reasonable restrictions in consonant with Article 19(3) of the International Covenant on Civil and Political Rights.
  • Offensive remarks through electronic device under 66A of the Information Technology Act declared as “unconstitutionally vague”.

 

Anti-conversion laws and attacks on minorities:

  • Call for the repeal of anti-conversion laws enacted by various state governments.
  • India should “take measures to protect the constitutionally-guaranteed freedom of religion and belief.
  • India should condemn and address hate speech against Muslims and other minorities.
  • India should review the design and implementation of the National Registry of Citizens (NRC)
  • Legislations enacted by the state governments prohibit conversions from one religion to another “by the use of force, inducement, allurement or fraudulent means”.
  • India “not only respects but celebrates diversity”.
  • Freedom of religion have evolved over the years through robust legislation and spirited interpretation by the constitutional courts.

 

 

Ratification of UN treaty on Torture prevention

  • Countries called on India to ratify the UN Convention on Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment (UNCAT) and its Optional Protocol, in their individual statements.
  • Stress on guidelines on clemency and treatment of death row prisoners.
  • India is committed to ratifying UNCAT
  • 273rd report of the Law Commission of India had given recommendations for changes to the domestic legislative framework.
  • India is among just four countries that have signed the UN torture treaty but have yet to ratify it.
  • Existing framework guarantees adequate protection against any form of arbitrary detention and provides provisions for remedial measures against torture.

 

Rights of marginalised sections of society

  • Countries called on India to “continue its efforts to ensure safety and security of women, eliminate all forms of discrimination against women, and ensure their empowerment.
  • India nudged to accede to the Optional Protocol Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW).
  • Concerns that women’s share in the labour market should be higher.
  • Recommendations on expanding free education for children, preventing sexual exploitation of children, transgender rights and ending discrimination against people with disabilities.
  • India has acceded to CEDAW but has so far not signed the optional protocol which allows the Committee on the Elimination of Discrimination Against Women to hear complaints from individuals.
  • Death penalty is imposed only in the “rarest of rare cases”.

 

 

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Keywords: GS Paper 2: International Relations, Human Rights, FCRA, NGOs
News Snapshot

Human Rights and its Features:


Human rights

  • About: These are rights simply because we exist as human beings - they are not granted by any state but are inherent to all, regardless of nationality, sex, national or ethnic origin, Color, religion, language, or any other status.
  • Universal Declaration of Human Rights (UDHR): It was adopted by the UN General Assembly in 1948 and was the first legal document to set out the fundamental human rights to be universally protected.
  • Other conventions: The UDHR, together with the 2 covenants - the International Covenant for Civil and Political Rights, and the International Covenant for Economic, Social and Cultural Rights - make up the International Bill of Rights.

Important features of Human rights:

    • Universal: This principle is the cornerstone of international human rights law and means that all individuals are all equally entitled to human
    • Inalienable: Human rights are should not be taken away, except in specific situations and according to due process. For example, the right to liberty may be restricted if a person is found guilty of a crime by a court of law.
    • Indivisible and interdependent: All human rights are indivisible and interdependente., one set of rights cannot be enjoyed fully without the other. For example, making progress in civil and political rights makes it easier to exercise economic, social and cultural rights.
    • Equal and non-discriminatory: As per UDHR, all human beings are born free and equal in dignity and rights to freedom from discrimination to ensures this equality.

Source:

  • https://theprint.in/world/actions-taken-against-some-civil-society-organisations-due-to-their-illegal-practices-india-at-unhrc/1209753/

 

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Keywords: GS Paper 2: International Relations, Human Rights
News Snapshot

Sustainable cold chains tackle climate: UNEP & FAO


In news

The report titled, 'Sustainable Food Cold Chains: Opportunities, Challenges and the Way Forward' has been launched at the 27th Conference of Parties (COP27) to the UN Framework Convention on Climate Change being held at Sharm El-Sheikh.

About the report

  • The report by the United Nations Environment Programme (UNEP) and the Food and Agriculture Organization (FAO) states that, Cold chains in the food processing, packaging, distribution and consumption systems are critical for pulling millions of people out of the cycle of hunger and poverty.
  • Out of the total food produced for human consumption, an estimated 14% is lost and an estimated 17% is wasted, costing the global economy an estimated $936 billion a year.
  • The lack of effective refrigeration is a leading contributor to this challenge; and Food loss is particularly high in the developing world, where the available refrigeration capacity is much lower than in developed countries.
  • Further, Food loss and waste accounted for 8-10% of global greenhouse gas emissions (GHG).
  • In relevance to India:
    • Indian farmers incur Rs 92,651 crore per year in post-harvest losses, the primary causes of which are poor storage and transportation facilities.
    • To reach its full potential, Indian agriculture needs a third revolution — the blue or cool revolution.

About Food Cold chain

  • A food cold chain is an integrated temperature-controlled food distribution system that ensures that perishable produce and/or temperature-sensitive products are kept at their optimum temperature and environment, from source to destination.

Measures taken in India

  • Pradhan Mantri Kisan SAMPADA Yojana
  • Food & agro-based processing units and cold chain infrastructure have been classified as agriculture activity for Priority Sector Lending (PSL).

Source:

  • Sustainable cold chains can address climate, food crises: UNEP & FAO report
  • https://www.fao.org/3/cc0923en/cc0923en.pdf

 

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Sustainable cold chains can address climate, food crises: UNEP & FAO report

Image source

Keywords: GS3: Food Processing and Related Industries in India- Scope’ and Significance, Location, Upstream and downstream Requirements, Supply Chain Management: Sustainable cold chains, UNEP, FAO.
News Snapshot

Revised National List of Essential Medicines (NLEM) 2022


In news

The Central Government vide notification has issued the Drugs (Prices Control) Amendment Order, 2022, which has revised the National List of Essential Medicines (NLEM) 2022.

About the notification

  • The department of pharmaceuticals, under the Ministry of chemicals and fertilisers, published the notification informing of amendment in the 'Drug (Prices Control) Order (DPCO)'.
  • Drugs Price Control Order (DPCO) is an order issued by the government under the Essential Commodities Act, which enables it to fix the prices of vital bulk drugs and their formulations.
  • The order fixes ceiling prices for the essential formulations based on the average cost to retailers.

How are the prices of drugs regulated in India?

  • Every few years, the Health Ministry, in consultation with experts, draws up a National List of Essential Medicines (NLEM).
  • These medicines, deemed essential for the treatment of common conditions, automatically come under price control under the Drug Price Control Order (DPCO).
  • The National Pharmaceutical Pricing Authority (NPPA), an independent body of experts in the Ministry of Chemicals and Fertilizers, enforces these prices and the availability of the medicines under the NLEM.

Analysis: India's drug price control policy

  • The rationale behind price ceilings in India, is to make drugs cheaper and easily accessible to everyone.
    • This is important because a large section of the Indian population finds it difficult to bear the cost of medications, which forms a significant chunk of out-of-pocket expenditure(About 61%) on healthcare.
  • The consequences of the drug price control policy have been as follows:
    • Pharmaceutical companies have opted to go out of production because their profit margins decreased.
    • It has led to substandard and spurious drug manufacturers dominating the pharma market.
    • A decrease in profit margins of quality manufacturers has led to a reduction in spending in research and development.
    • Further, It has deterred future investments in the pharmaceutical sector.

Way forward

Instead of price controls, other mechanisms like promoting competition among manufacturers, strictly regulating the quality of drugs, bulk procurement of generic drugs by public institutions for distribution (Tamil Nadu being a good example), increase in public spending on healthcare, and tackling information asymmetry by promoting transparency will deliver better outcomes for India’s pharmaceutical industry.

Source:

  • Govt brings listed essential drugs under price cap

 

Image source:

  • https://pbs.twimg.com/media/FclWNenXgAAvvOl.jpg

 

 

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Keywords: GS2: Government Policies and Interventions for Development in various sectors and Issues arising out of their Design and Implementation: NLEM, DPCO, Drug pricing.
Terms & Concepts

Vostro Accounts - Edukemy Current Affairs


  • Context: Recently the government announced that 9 special Vostro accounts have been opened with 2 Indian banks to facilitate trade in the rupee in the wake of sanctions on Russia by the US and European countries.

  • It is an account that a domestic bank holds for a foreign bank in the domestic bank’s currency, i.e., the rupee.
  • Difference between Nostro and Vostro Accounts
    Home country letting a foreign bank open an account: Vostro literary means “your” account. Basically, an Indian bank lets a Russian bank open (your) account.
  • For Foreign countries: Nostro literally means “ours”.
  • To make it clearer, Nostro means ‘ours’ and Vostro means ‘yours’ in Latin. Therefore, the accounts opened by IndusInd and UCO are Vostro, and the ones opened by Russia’s Sberbank and VTB Bank are Nostro accounts.

Source

  • https://indianexpress.com/article/explained/everyday-explainers/vostro-nostro-accounts-explained-8271491/
  • https://www.livemint.com/

Image source:

  • Treasury Management Group

 

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Keywords: GS III: Economics:, Money and banking
Terms & Concepts

Climate change performance index


  • Context: Recently Germanwatch, NewClimate Institute and Climate Action Network jointly released Climate Change Performance Index 2023.
  • The Climate Change Performance Index (CCPI), is an independent monitoring tool for tracking countries' climate protection performance.
  • The CCPI compares the climate performance of 59 countries and the EU, which together account for 92% of global GHG emissions.
  • Criteria: It assesses 14 indicators in 4 categories:

  1. GHG Emissions = 40%
  2. Renewable Energy = 20%
  3. Energy Use = 20%
  4. Climate Policy = 20%

Key Findings

  1. The first three positions in the list lie unoccupied since none of the emitters is on 5°C pathway.
  2. Denmark and Sweden ranked 4 and respectively.
  3. Countries such as Chile, Morocco and India (ranked 6 to 8) have consistently performed well.
  4. The largest emitter, China, falls sharply behind, dropping 13 ranks (now ranked 51), joining the second largest emitter, the US (ranked 52).

India’s Performance

  1. It benefits from low per capita emissions and energy use.
  2. There is growing share of renewable energy.
  3. India has updated Nationally Determined Contribution (NDC) and announced a net-zero target for 2070.

Source:

  • https://newclimate.org/
  • https://ccpi.org/

 

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Keywords: GS III:, Environment Ecology: International initiatives and Indices
Terms & Concepts

Anti-Conversion Laws in India - Edukemy Current Affairs


  • Context: Forced religious conversion dangerous, may affect nation’s security: Supreme Court
  • The need for anti-conversion laws was initiated when it was found that religious conversions were not “completely voluntary”.

  • The forcible conversion of religion would involve several crimes,
    • including wrongful confinement as per Section 342 of IPC,
    • intimidation by Section 506 of IPC,
    • mentioned in Section 359-369 of IPC,
    • assault in Section 352 of IPC),
    • the threat of divine displeasure in Section 508 of IPC) etc.
  • Freedom of Religion is under Articles 25-28 of the constitution of India.
  • All the states in India have the authority to enact laws which can control religious conversions.
  • The “Freedom of Religion laws” are currently in force in eight states out of 28 states.

Sources:

  • https://indianexpress.com/article/india/forced-religious-conversion-very-serious-matter-supreme-court-8267897/
  • https://www.sundayguardianlive.com/legally-speaking/anti-conversion-laws-india

 

 

Image source:

  • https://www.thehindu.com/news/national/karnataka/stringent-anti-conversion-bill-being-given-final-touches/article37973280.ece

 

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Keywords: GS Paper 2:, Polity: Anti-conversion laws
Terms & Concepts

LeadIT initiative - Edukemy Current Affairs


  • Context: LeadIT members re-emphasized the commitment to pursuing the low-carbon transition.

  • LeadIT is a group of countries and companies that are committed to action to achieve the Paris Agreement, to reach net-zero carbon emissions from industry by 2050.
  • It was launched by the governments of Sweden and India at the UN Climate Action Summit in September 2019 and is supported by the World Economic Forum.
  • The LeadIT (Leadership for Industry Transition) initiative focuses on the low carbon transition of the hard-to-abate industrial sector.
  • LeadIT Summit Statement 2022 has been launched, where the members re-emphasized the commitment to pursuing the low-carbon transition and co-development is the only option for the low-carbon transition.

Sources:

  • https://climateinitiativesplatform.org/index.php/Leadership_Group_for_Industry_Transition_(LeadIT)
  • https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1876186

Image source:

  • https://www.industrytransition.org/

 

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Keywords: GS Paper 3: Environment and Ecology, LeadIT Initiative
Editorial of the day

Undermining federalism, eroding States’ autonomy: The Hindu


Exam View: National Institution for Transforming India (NITI Aayog), cooperative federalism, Centre-state relation, Basic structure of the constitution, Article 1, Articles 245, Articles 254, Article 246, centrally sponsored schemes.

In News: Rather than strengthening cooperative federalism, the central government of the day is resorting to policies that make the Indian federation coercive.

Federalism is a system of government where the powers are divided equally between the Centre and its various parts, including provinces and states. Federalism is one of the pillars of the Basic Structure of the Constitution.

The Planning Commission was replaced by NITI Aayog in 2015 with an emphasis on the ‘Bottom –Up’ approach and to achieve Sustainable Development Goals (SDGs). One of the main mandates of NITI Aayog is to foster cooperative federalism through structured support initiatives and mechanisms with the States continuously, recognising that strong States make a strong nation.

Cooperative vs Competitive Federalism:

Constitutional Provisions

  • Article 1: “India, that is Bharat, shall be a Union of States”. While the Constitution doesn’t mention the term “federal”, it does provide for a governance structure primarily federal in nature.
  • Articles 245 to 254: The legislative functions of union and states are discussed mainly in Articles 245 to 255 in Part XI of the constitution.
  • Article 246 (Seventh Schedule): It demarcates the powers of the Union and the State by classifying their powers into 3 lists. They are: Union List, State List and Concurrent List.

 Recommendations of Finance commission rejected by Union Government:

  • The Fifteenth Finance Commission report: It recommended a special grant to three States to ensure that the tax devolution in 2020-21 in absolute terms should not be less than the amount of devolution received by these States in 2019-20.
  • Recommendation relating to grants for nutrition: amounting to ₹7,735 crore was not accepted.
  • The sector-specific grants and State-specific grants: It recommended by the Finance commission for the period 2021-26, have not been accepted.

Impacts of Rejecting Recommendations:

Way Forward:

Different Committees appointed by the Government of India emphasized the need to curtail the number of Centrally Sponsored Schemes (CSS) and restrict them to a few areas of national importance. The Sub-Committee of Chief Ministers appointed by NITI Aayog has recommended a reduction in the number of schemes and the introduction of optional schemes.

The COVID-19 pandemic has taught us that individual efforts are not enough to tackle national exigencies, and there is a constant need to strengthen and renew the cooperative spirit of Indian federalism.

The centre and state should work together in accordance with their constitutional mandates, with greater autonomy for states. After all, a stronger nation results from these stronger states.

 

https://www.thehindu.com/opinion/op-ed/undermining-federalism-eroding-states-autonomy/article66141425.ece

 

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Keywords: GS Paper 2, GS Paper 3 – Functions and responsibilities of the union and the states, issues and challenges pertaining to the federal structure etc.
News Capsules

Global Offshore Wind Alliance (GOWA)


Why in news? Nine New Countries including Belgium, Colombia, Germany, the US, UK etc joined the Global Offshore Wind Alliance at COP27 in Sharm El-Sheikh.

About:

  • The alliance is initiated by the International Renewable Energy Agency (IRENA), Denmark and the Global Wind Energy Council (GWEC).
  • It will bring together governments, the private sector, international organisations, and other stakeholders to accelerate the deployment of offshore wind power.
  • Its objective is to contribute to achieving a total offshore wind capacity of a minimum of 380 GW by 2030 and an installed capacity increase of at least 70 GW per year from 2030.
  • Global Wind Energy Council is the international trade association for the wind power industry (India is also a member).

 

https://irena.org/News/pressreleases/2022/Nov/Nine-new-countries-sign-up-for-Global-Offshore-Wind-Alliance-at-COP27

 

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Keywords: General Studies – 3 Environment and Ecology, Renewable Energy
News Capsules

Ninth Schedule of the Constitution


Why in news? Jharkhand Assembly cleared a bill to increase reservation in vacant government posts and services to 77%.

About:

  • Within the reserved category, the Scheduled Castes will get a quota of 12 %, up from 10; 27% for OBCs, up from 14%; 28% for Scheduled Tribes, a 2 % increase; and 10% for Economically Weaker Sections (EWS).

  • However, the government stated that it will come into force only after the Centre include it in Ninth Schedule.
  • The ninth schedule was added by the 1st Amendment (1951) to protect the laws included in it from judicial scrutiny on the ground of violation of fundamental rights.
  • However, in I R Coelho vs State of Tamil Nadu case, Supreme Court ruled that laws cannot escape the “basic structure” test if inserted into Ninth Schedule after 1973.

 

https://indianexpress.com/article/india/jharkhand-assembly-bill-raising-reservation-8262459/

 

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Keywords: General Studies – 2, Indian Constitution, judiciary, fundamental rights, Issues Related to SCs & STs, Judgements & Cases, Issues Relating to Development.
News Capsules

Currency Monitoring List - Edukemy Current Affairs


Why in news? The US Department of Treasury has removed India from its Currency Monitoring List.

About:

  • This is a label given by the US government to countries it feels are engaging in “unfair currency practices” by deliberately devaluing their currency against the dollar.

    • An economy meeting two of the three criteria is placed on the Watch List. This includes:
    • A “significant” bilateral trade surplus with the US — one that is at least USD 20 billion over a 12-month period.
    • A material current account surplus equivalent to at least 2% of Gross Domestic Product (GDP) over a 12-month period.
    • “Persistent”, one-sided intervention — when net purchases of foreign currency totalling at least 2% of the country’s GDP over a 12-month period are conducted repeatedly, in at least six out of 12 months.

 

https://www.ndtv.com/business/why-has-india-been-removed-from-us-currency-monitoring-list-and-what-does-it-mean-3518005

 

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Keywords: General Studies –3 Economy, CAPITAL MARKET, Effect of Policies & Politics of Countries on India's Interests.
News Capsules

NFRA Releases Audit Quality Guidelines


Why in news? The National Financial Reporting Authority (NFRA) has published its audit quality inspection guidelines to improve the quality of the audit profession.

About:

  • National Financial Reporting Authority (NFRA) was constituted in 2018 by the Government under the Companies Act, 2013. It is an audit regulator.
  • It is a quasi-judicial body.
  • The chairperson of NFRA is appointed by the Central Government and it has a maximum of 15 members.
  • Its account is monitored by the Comptroller and Auditor-General of India.

Functions and Duties:

  • Recommends accounting and auditing policies and standards to be adopted by companies.
  • Monitor and enforce compliance with accounting standards and auditing standards.
  • Oversee the quality of service of the professions associated with ensuring compliance
  • Protect the public interest.

 

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1875275

 

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Keywords: General Studies –3, General Studies –2 Government Policies & Interventions, Transparency & Accountability
News Capsules

MMLPs - Edukemy Current Affairs


Why in news? Recently, Reliance Industries Ltd (RIL) has bagged the project to build India’s first multimodal logistics park (MMLP) in Chennai, Tamil Nadu.

About:

  • MMLPs are a major policy initiative steered by National Highways Logistics Management Limited under the Ministry of Road Transport and Highways as well as the National Highways Authority of India.
  • MMLPs are aims to enhance the nation’s freight logistics industry by reducing overall freight costs and time, trimming warehousing costs, and reducing vehicular pollution as well as congestion.
  • MMLPs are being developed under the Bharatmala Pariyojana.

 

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Keywords: General Studies – 3 Economy, Infrastructure and Industries
News Capsules

Vijayanagar Empire - Edukemy Current Affairs


Why in news? PM Modi unveils 108-foot-tall bronze statue of Bengaluru founder 'Nadaprabhu' Kempegowda. He was a feudatory ruler under the erstwhile Vijayanagara Empire founded Bengaluru in 1537.

About

  • It was founded in 1336 by Harihara and Bukka (with the blessings of Guru Vidyaranya) of the Sangama dynasty who originally served under the Kakatiya rulers of Warangal.
  • They later proclaimed their independence and founded a new city on the south bank of the Tungabhadra River named it “Vijayanagar” (City of Victory)
  • Early Vijayanagar rulers were followers of Saivism. Virupaksha was their family God. Later they came under the influence of Vaishnavism. However, Siva continued to be worshipped.
  • The last ruler of Vijayanagar was Sri Ranga III
  • Four Dynasties ruled Vijayanagar from A.D. 1336 TO 1672- Sanagama, Saluva, Tuluva and Aravidu.

 

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Keywords: General Studies – 1 Ancient History, Vijayanagar empire
Case Study of the Day

Sustainable Agriculture: DRR DHAN 60


Background

Scientists at the Indian Institute of Rice Research (IIRR) have developed paddy varieties that require at least 30% lower phosphorous, at a time when the country is facing a huge challenge in meeting fertilizer demand.

About the low phosphorous soil tolerant varieties

  • DRR Dhan 60 is the first rice variety in the country with low phosphorous tolerance. DRR Dhan 66, DRR Dhan 65, and WGL-1487 are the other varieties which offer the same benefits.
  • Scientists at the IIRR think that farmers in Eastern India may be able to use it as an alternative way to grow crops. It can be grown in other rice-growing states like Telangana, Andhra Pradesh, Chhattisgarh, Tamil Nadu, Karnataka, and Odisha.
  • Significance of phosphorus for plants
    • Phosphorous is a key macronutrient responsible for the growth and yields of paddy as it plays a crucial role in energy storage and transfer within cells.
    • Speeds up root development
    • Facilitates greater Nitrogen uptake and results in higher grain protein yields.
  • Importance of development of such variety:

 

    • An overwhelming majority of soils in the rice-producing areas in India are deficient in phosphorous and unscientific methods of application leads to washing away of fertilizers, requiring repeated application.
    • High import costs of fertilizers along with foreign currency outgo puts fiscal strain on the government.
    • Increasing subsidy costs, as farmers pay below what it costs to import or manufacture using imported inputs. Government covers the difference.
    • Overuse of fertilizers also result in eutrophication of water bodies.

Since these rice varieties were created using conventional breeding methods, no additional agronomic advice is given to the farmers.

Source: https://www.thehindubusinessline.com/economy/agri-business/scientists-develop-paddy-varieties-that-require-30-less-phosphorous/article66124566.ece/amp/

Image Source: Department of fertilizers, Ministry of Chemicals and Fertilisers

 

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Keywords: GS Paper-3, agriculture
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