IASbaba's Daily Current Affairs Analysis
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(PRELIMS & MAINS Focus)
Syllabus
- Prelims – Environment and Ecology
Context: Ecologists at Michigan State University (MSU) and collaborators in Ecuador have found 32 species of an amphibian genus — Atelopus or harlequin frogs — still surviving in the wild.
- Since the 1980s, a fungus called Bd — short for Batrachochytrium dendrobatidis — has been killing off members of more than 500 species of amphibians.
- Humans are responsible for the spread the fungus around the world.
- The harlequin frog genus was hit exceptionally hard by the fungus.
- Over the past four decades 80 per cent of its species were driven to extinction.
About Atelopus:
- Atelopus is a large genus of Bufonidae, commonly known as harlequin frogs or toads, from Central and South America, ranging as far north as Costa Rica and as far south as Bolivia.
- Atelopus species are small, generally brightly coloured, and diurnal.
- Most species are associated with mid-to-high elevation streams.
- This genus has been greatly affected by amphibian declines, and many species are now considered endangered, while others already are extinct.
- While threatened by habitat loss, pollution, and introduced species, the primary cause of these declines appears to be the chytrid fungus Batrachochytrium dendrobatidis.
Source: DownToEarth
Previous Year Question
Q.1) Which of the following is not a bird? (2022)
- Golden Mahseer
- Indian Nightjar
- Spoonbill
- White Ibis
Q.2) Certain species of which one of the following organisms are well known as cultivators of
fungi? (2022)
- Ant
- Cockroach
- Crab
- Spider
Syllabus
- Prelims – Economy
Context: Recently the Central government released the Sovereign Green Bonds Framework. The revenue generated from the issuance of sovereign green bonds will be deployed in public sector projects that help in reducing the carbon intensity of the economy.
About Green Bonds:
- Green bonds are issued by companies, countries and multilateral organisations to exclusively fund projects that have positive environmental or climate benefits and provide investors with fixed income payments.
- The projects can include renewable energy, clean transportation and green buildings, among others.
Examples of Green Bonds:
- The World Bank is a major issuer of green bonds and issued $14.4 billion of green bonds between 2008 and 2020.
- These funds have been used to support 111 projects around the world, largely in renewable energy and efficiency (33%), clean transportation (27%), and agriculture and land use (15%).
- By the end of 2020, 24 national governments had issued Sovereign Green, Social and Sustainability bonds totalling a cumulative $111 billion, according to the London-based Climate Bonds Initiative.
About India’s Sovereign Green Bonds Framework:
- First announced in the Union Budget 2022-23, the proceeds of these green bonds will be issued for mobilising resources for green infrastructure.
- Aim –
- To mobilise Rs 16,000 crore through the issuance of green bonds in the current fiscal ending March 2023.
- Under the framework, the Finance Ministry will, every year, inform the RBI about spending on green projects for which the funds raised through these bonds will be used.
Implementing Agency:
- The Ministry of Finance has constituted a Green Finance Working Committee (GFWC) including members from relevant line ministries and chaired by the Chief Economic Advisor.
- The GFWC will meet at least twice a year to support the Ministry of Finance with selection and evaluation of projects and other work related to the Framework.
- Initial evaluation of the project will be the responsibility of the concerned Ministry/Department in consultation with experts.
- The allocation of the proceeds will be reviewed in a time-bound manner by the GFWC to ensure that the allocation of proceeds is completed within 24 months from the date of issuance.
Eligible Projects:
- All eligible green expenditures will include public expenditure undertaken by the government in the form of investment, subsidies, grants-in-aid, or tax foregone (or a combination of all or some of these) or select operational expenditures.
- R&D expenditures in public sector projects that help in reducing the carbon intensity of the economy and enable country to meet its Sustainable Development Goals (SDGs) are also included in the framework.
- The eligible expenditures will be limited to government expenditures that occurred maximum 12 months prior to issuance of the green bonds.
- Sectors not included –Nuclear power generation, landfill projects, alcohol/weapons/tobacco/gaming/palm oil industries and hydropower plants larger than 25 MW have been excluded from the framework.
Source: Indian Express
Previous Year Question
Q.1) With reference to the India economy, what are the advantages of “Inflation-Indexed Bonds (IIBs)”? (2022)
- Government can reduce the coupon rates on its borrowing by way of IIBs.
- IIGs provide protection to the investors from uncertainty regarding inflation.
- The interest received as well as capital gains on IIBs are not taxable.
Which of the statements given above are correct?
- 1 and 2 only
- 2 and 3 only
- 1 and 3 only
- 1, 2 and 3
Syllabus
- Prelims – International Relations
Context: The European Union’s financial markets regulator European Securities and Markets Authority (ESMA) said it will withdraw recognition of six Indian clearing bodies or central counterparties (CCPs).
These six CCPs are:
- Clearing Corporation of India (CCIL),
- Indian Clearing Corporation Ltd (ICCL),
- NSE Clearing Ltd (NSCCL),
- Multi Commodity Exchange Clearing (MCXCCL),
- India International Clearing Corporation (IFSC) Ltd (IICC) and
- NSE IFSC Clearing Corporation Ltd (NICCL).
As per the European Market Infrastructure Regulations (EMIR), a CCP in a third country can provide clearing services to European banks only if it is recognized by the ESMA.
Role of these CCPs:
CCPs perform two main functions as the intermediary in a market transaction:
- clearing and settlement
- guarantee the terms of a trade.
- CCP is a system provider, who by way of novation interposes between system participants in the transactions admitted for settlement, thereby becoming the buyer to every seller and the seller to every buyer, for the purpose of effecting settlement of their transactions.
- A CCP is authorised by the RBI to operate in India under Payment and Settlement Systems Act, 2007.
About ESMA:
- The European Securities and Markets Authority (ESMA) is an independent European Union (EU) Authority that contributes to safeguarding the stability of the EU’s financial system by enhancing the protection of investors and promoting stable and orderly financial markets.
- ESMA is the direct supervisor of specific financial entities:
- Credit Rating Agencies (CRAs)
- Securitisation repositories (SRs)
- Trade Repositories (TRs)
- These entities form essential parts of the EU’s market infrastructure.
Reason for derecognition:
- The decision to derecognise Indian CCPs came due to ‘no cooperation arrangements’ between the ESMA and Indian regulators:
- the Reserve Bank of India (RBI),
- the Securities and Exchange Board of India (SEBI) and
- the International Financial Services Centres Authority (IFSCA).
- The ESMA wants to supervise these CCPs, which the Indian regulators are not in favour of as they feel that these entities have robust risk management and there is no need for a foreign regulator to inspect them.
Impact of Derecognition:
- These CCPs will no longer be able to provide services to clearing members and trading venues established in the EU.
- The derecognition will impact the lenders as they will not be able to provide clearing and settlement facilities to their clients.
- They will also have to set aside additional capital to trade in the domestic market.
- Of the total foreign portfolio investors (FPI) registered in India, close to 20 per cent are from Europe.
Source:Indian Express
Previous Year Question
Q.1) “Rapid Financing Instrument” and “Rapid Credit Facility” are related to the provisions of lending by which of the following: (2022)
- Asian Development Bank
- International Monetary Fund
- United Nations Environment Programme Finance Initiative
- World Bank
Q.2) Consider the following statements:
- In India, credit rating agencies are regulated by Reserve Bank of India.
- The rating agency popularly known as ICRA is a public limited company.
- Brickwork Ratings is an Indian credit rating agency.
Which of the statements given above are correct? (2022)
- 1 and 2 only
- 2 and 3 only
- 1 and 3 only
- 1, 2 and 3
Syllabus
- Prelims – Environment and Ecology
Context: The commercial cultivation of flame lily had attracted many in Tamil Nadu since the 1980s as a kilogram of the seeds of the flower, with its therapeutic properties, fetched up to ₹8,000 in a pharmaceutical-driven market. That’s no longer the case at present.
About flame lily
- Flame lily occupies a special place in Tamil literature.
- The Sangam-era poet, Kapilar, refers to it in his Kurinchipattu that describes the landscape of the mountainous terrain.
- When the State of Tamil Nadu was formed in 1956, flame lily was named as its official flower.
- It is also known as: Gloriosa superba/Kanvali kizhangu/Karthigaipoo/Senkanthalpoo
- It is commonly found in scrubland, forests, thickets and even sand dunes.
- Both the roots and the seeds are important pharmaceutical ingredients in indigenous Indian and African medicine.
- They have been part of therapies to treat or manage ailments such as cancer, gout, arthritis, leprosy and dyspepsia.
Source: The Hindu
Syllabus
- Prelims – Current Affairs
In news: Traders of universally-prized Pashmina shawls are complaining that “obsolete testing methods” such as ‘Light Microscopy’ have resulted in several cases of ‘false positive’ for presence of ‘Shahtoosh’ guard hair.
- This has led to their export consignments being flagged and wrongful prosecution.
- Pashmina Exporters and Manufacturers Association have moved a petition before the Delhi High Court, for a direction to improve the existing testing infrastructure by incorporating the modern ‘Scanning Electron Miscrospcopic’ technique and DNA tests.
- In 2019, the Bureau of Indian Standards (BIS) published an Indian Standard for identification, marking and labelling of Pashmina products to certify their purity.
- In 2021, the BIS released a revised report titled ‘Identification, Labelling and Marking of Pashmina Products’ that mandated directions for incorporating qualitative and quantitative identification of Shahtoosh guard hair.
About Pashmina:
- Pashmina is obtained from breeds of mountain goats (capra hircus) found in the Changthang Plateau in Tibet and parts of Ladakh, in the Himalayan region of India.
- Manufacture of Pashmina is a largely unorganised cottage/handicraft industry providing employment and livelihood to approximately 6 lakh people, most notably to local skilled villagers and artisans in Kashmir.
- Shahtoosh is the fine undercoat fibre obtained from the Tibetan Antelope, known locally as ‘Chiru’, a species living mainly in the northern parts of the Changthang Plateau in Tibet.
- As they offer high levels of smoothness and warmth, Shahtoosh shawls became a highly expensive commodity.
- Unfortunately, due to commercial poaching of the animal, their population declined dramatically.
- Tibetan Antelope
- Appendix 1 of CITES (included in 1979) leading to prohibition in sale and trade of Shahtoosh shawls and scarves.
- IUCN: near threatened
- Schedule I of the India’s Wildlife (Protection) Act
- India contributes only about 1% of the world’s Pashmina, but the Pashmina produced in India is considered the best of the lot and occupies a unique position.
Source: The Hindu
Syllabus
- Prelims – Environment
In News: International Crops Research Institute for The Semi-Arid Tropics (ICRISAT) has published a modelling study that revealed how the right combination of fertilisers, biochar, and irrigation could potentially increase soil carbon by 300%.
- The study was conducted in some districts of Maharashtra and Odisha with semi-arid climate (annual rainfall 600 -1,100 mm).
- A new gaming app, ‘Mrida’, has been launched to promote behavioural change among farmers and will be released in English, Marathi and Odiya.
About Carbon sequestration:
- Carbon sequestration is the process of capturing and storing atmospheric carbon dioxide.
- The carbon sequestration increased by more than 300 per cent in combination with fertiliser, biochar, and irrigation.
- Biochar is a charcoal-like substance that burns organic material (biomass) from agricultural and forestry wastes in a controlled process called pyrolysis.
- Biochar has safely reduced contamination and stored carbon.
- Biochar increased carbon value in the soil by 130-300 per cent over 30 years with little difference in yield.
- Optimal use of fertilizers increased the carbon and output by up to 30 per cent.
- Improved nutrients, crop/variety, landform, minimum tillage and residue addition led to a significant increase in soil carbon.
- Carbon sequestration increased by 100 kg ha per year with the improved practices of landform management, fertilizers and crop varieties over 45 years.
- Two major types: geologic and biologic
- Geologic carbon sequestration is the process of storing carbon dioxide (CO2) in underground geologic formations like rocks.
- Biologic carbon sequestration refers to storage of atmospheric carbon in vegetation, soils, woody products, and aquatic environments.
- Carbon sequestration occurs both naturally and as a result of anthropogenic activities.
- The Kyoto Protocol under UNFCCC allows countries to receive credits for their carbon-sequestration activities in the area of land use, land-use change, and forestry.
- Carbon capture and storage (CCS): carbon dioxide is first separated from other gases contained in industrial emissions. It is then compressed and transported to a location that is isolated from the atmosphere for long-term storage.
- Carbon cycle is as follows:
Significance:
- Food systems account for nearly one-third of greenhouse gas (GHG) emissions.
- In 2015, food-system emissions amounted to 18 Gt CO2 equivalent per year globally, representing 34 per cent of total GHG emissions.
- Soil carbon is critical for crop yield and climate adaptation or mitigation measures, which are heavily reduced by both intensive agriculture and indiscriminate use of chemicals leading to increased carbon emissions.
- Carbon sequestering can provide an additional source of income for the farmers.
Source: Down To Earth
Previous Year Question
Q.1) Which of the following statements best describes “carbon fertilization”? (2018)
- Increased plant growth due to increased concentration of carbon dioxide in the atmosphere.
- Increased temperature of Earth due to increased concentration of carbon dioxide in the atmosphere.
- Increased acidity of oceans as a result of increased concentration of carbon dioxide in the atmosphere.
- Adaptation of all living beings on Earth to the climate change brought about by the increased concentration of carbon dioxide in the atmosphere.
Syllabus
- Prelims – Current Affairs
In News: Atal Innovation Mission of NITI Aayog launched the Women centric challenges under the 2nd edition of Atal New India Challenge (ANIC).
About:
- ANIC is an initiative by AIM, NITI Aayog.
- It aims to seek, select, support and nurture technology-based innovations that solve sectoral challenges of national importance and societal relevance through a grant-based mechanism of up to ₹1 crore
- The Woman centric challenges address the major issues faced by women from all spheres of life including driving women hygiene through innovation, innovations to improve women’s safety, professional networking opportunities for women, innovations that make working mothers’ life better, and easing the life of Rural Women.
Atal Innovation Mission:
- It is Government of India’s flagship initiative to promote a culture of innovation and entrepreneurship in the country.
- AIM’s objectives are:
- To develop new programmes and policies for fostering innovation in different sectors of the economy.
- To provide platform and collaboration opportunities for different stakeholders.
- To create awareness.
- To create an umbrella structure to oversee innovation ecosystem of the country.
Major initiatives:
- Atal Tinkering Labs-Creating problem solving mindset across schools in India.
- Atal Incubation Centers-Fostering world class startups and adding a new dimension to the incubator model.
- Atal New India Challenges(ANIC)-Fostering product innovations and aligning them to the needs of various sectors/ministeries.
- Mentor India Campaign– A national Mentor network in collaboration with public sector, corporates and institutions, to support all the intiatives of the mission.
- Atal Community Innovation Center– To stimulate community centric innovation and ideas in the unserved /underserved regions of the country including Tier 2 and Tier 3 cities.s
- ARISE-To stimulate innovation and research in the MSME industry.
- AIM-iCREST – an Incubator Capabilities enhancement program for startups.
- AIM-PRIME – to promote and support science-based deep-tech start-ups & ventures with Bill & Melinda Gates Foundation (BMGF).
Source Newson air
Syllabus In News: Launch of IDRA at the 27th Conference of Parties (COP27) to the United Nations Framework Convention on Climate Change (UNFCC) at Sharm El-Sheikh, along with 30 countries and 20 organisations. About the IDRA: Challenges of Drought: Source: Down to Earth Previous Year Questions Q.1) With reference to the Agreement at the UNFCCC Meeting in Paris in 2015, which of the following statements is/are correct? (2016) Select the correct answer using the code given below. Syllabus Context: Recently, the Supreme Court of India (SCI) discussed an important matter concerning the rights of persons with disabilities where the blanket exclusion of disabled persons from services such as the IPS, IRPF, DANICS, and Lakshadweep Police Service was challenged. About Rights of Persons with Disabilities Act, 2016: Features: Expansion of Disability Criteria: Reservation: Inclusive Education: Right to Free Education: Central & State Advisory Boards on Disability: District-level Committees: National and State Funds Penalty: Special Courts: SC Observations: First Observation: Second Observation: Third Observation: Way Forward: The citizens of the country should not leave any stone unturned to make the lives of the differently abled ones much easier. Additional Information: About United Nations Convention on the Rights of Persons with Disabilities (UNCRPD) Source: Indian Express Syllabus Context: Recently the Dharwad Bench of the Karnataka High Court, while dismissing a case filed under the Protection of Children from Sexual Offences Act, 2012, said the Law Commission of India would have to rethink the age criteria, to take into consideration the ground realities. About POCSO Act 2012: Salient Provisions of the Act: Drawbacks of the POCSO Act: Misuse of the act: Case study: Vijaylakshmi vs State Rep case 2021 Way forward: Government should examine the provisions of the POCSO Act which are being misused and amend them. The principles of Right to life and survival and the best interests of all children concern, should be protected. MUST READ: National Commission for Protection of Child Rights (NCPCR) Source: The Hindu Syllabus In News: The Ministry of Home Affairs (MHA) convened a conference in Delhi aimed at improving the quality of policing in the country through an exchange of ideas, which saw the participation of the union home minister, a few State Home Ministers and police chiefs. Context: Historical reference: Concerns: Suggestions: Way forward: Source: The Hindu Syllabus Context: Though all the mega cities in India suffer from the problem of air pollution at alarmingly high levels due to growth in number of personal vehicles, increasing populations and effects of rapid urbanization, but, the problem is specifically more in Delhi as compared to the cities of Mumbai and Kolkata. Q.1) With reference to Pashmina shawls, consider the following statements: Which of the following statements are correct? Q.2) Consider the following statements: Which of the following statements are correct? Q.3) Consider the following statements regarding POCSO act: Which of the statements given above is/are correct? Comment the answers to the above questions in the comment section below!! ANSWERS FOR ’11th November 2022 – Daily Practice MCQs’ will be updated along with tomorrow’s Daily Current Affairs.st Q.1) – b Q.2) – c Q.3) – a
Baba’s Explainer – Delhi and Air Pollution
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Daily Practice MCQs
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