DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 22nd May 2023

Syllabus

• Prelims: Indian Constitution 

Context: The Andhra Pradesh High Court has set aside a Government Order (GO) issued by the Andhra Pradesh government that sought to regulate public meetings, processions, and assemblies on roads, highways, and streets.

About Right to Assembly -Article 19(1) (b)

• The right to assemble peaceably and without arms is provided under Article 19(1) (b) of the Indian Constitution.
• Every citizen has the right to assemble peaceably and without arms.
• It includes the right to hold public meetings, demonstrations and take out processions.
• This freedom can be exercised only on public land and the assembly must be peaceful and unarmed.
• This provision does not protect violent, disorderly, riotous assemblies, or one that causes breach of public peace or one that involves arms.
• The purpose of organising a gathering or meeting is to spread ideas and educate the public. As a result, the right to peaceful assembly follows naturally from the right to free speech and expression.

Restrictions:

• Article 19(3) impose restrictions on the exercise of the right to freedom of assembly.
• According to Article 19(3), the state can impose reasonable restrictions on the exercise of right of assembly on two grounds, namely,

1. Sovereignty and integrity of India and
2. Public order including the maintenance of traffic in the area concerned.

• Apart from this, section 144 of the Criminal Procedure Code empowers a magistrate to impose restrictions on assembly, meeting, or procession if there is a possibility of obstruction, annoyance, or danger to human life, health, and safety, or a disturbance of public tranquillity or riot or an affray.

MUST READ: Fundamental Rights (https://iasbaba.com/2020/05/mind-maps-fundamental-rights-part-1-general-studies-2/)

SOURCE: Indian Express https://indianexpress.com/article/explained/explained-law/andhra-hc-government-order-struck-down-processions-8616123/

PREVIOUS YEAR QUESTION

Q1. Right to Privacy is protected as an intrinsic part of Right to Life and Personal Liberty. Which of the following in the Constitution of India correctly and appropriately imply the above statement? (2018)

1. Article 14 and the provisions under the 42nd Amendment to the Constitution
2. Article 17 and the Directive Principles of State Policy in Part IV
3. Article 21 and the freedoms guaranteed in Part III
4. Article 24 and the provisions under the 44th Amendment to the Constitution

Syllabus

• Prelims – Economy

Context: SEBI has introduced the Corporate Debt Market Development Fund, a backstop facility for specified debt funds during market dislocations.

About Corporate Debt Market Development Fund

• Corporate Debt Market Development Fund is a form of an Alternative Investment Fund (AIF).
• It will be backstop facility for the purchase of investment grade corporate debt securities in times of stress or in case of market dislocation. The purpose of this fund is to bring about confidence in corporate bond market and boost secondary market liquidity.
• The fund will have a corpus of ₹3,000 crore, of which ₹2,700 crore will come from mutual fund debt schemes. The corporate bond backstop fund will have 10x leverage and a sovereign guarantee.
• The contribution will also be made by the specified debt-oriented mutual fund schemes and asset management companies of mutual funds towards building the initial corpus of the CDMDF.
• Access to the fund will be limited to specified mutual fund schemes in proportion to the contribution made to the fund at a mutual fund level. The SEBI board has approved the framework for triggering CDMDF’s asset purchases during market dislocation.
• CDMDF, based on a guarantee to be provided by the National Credit Guarantee Trust Company (NCGTC) may raise funds, for the purchase of corporate debt securities during market dislocation.
• The move will instill confidence among corporate bond market participants and generally enhance secondary market liquidity.

Backstop facility

• A backstop is an act of providing last-resort support or security in a securities offering for the unsubscribed portion of shares.
• When a company is trying to raise capital through an issuance, it may get a backstop from an underwriter or a major shareholder, such as an investment bank, to buy any of its unsubscribed shares.

MUST READ: Alternate Investment Fund (https://iasbaba.com/2023/01/alternate-investment-fund-and-credit-default-swap/)

SOURCE: The Hindu Business line https://www.thehindubusinessline.com/markets/new-backstop-fund-mooted-to-bail-out-mf-debt-schemes-in-distress/article66676446.ece

PREVIOUS YEAR QUESTIONS

Q1. With reference to ‘National Investment and Infrastructure Fund’, which of the following statements is/are correct? (2017)

1. It is an organ of NITI Aayog.
2. It has a corpus of Rs 4,00,000 crore at present.

Select the correct answer using the code given below

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Syllabus

• Prelims – Economy

Context: The Delhi High Court has restrained the Institute of Cost Accountants of India from using the acronym ICAI after the Institute of Chartered Accountants of India moved a trademark infringement lawsuit.

About Institute of Cost Accountants of India.

• The Institute of Cost Accountants of India was established by an Act of Parliament, the Cost and Works Accountant Act, 1959.
• The institute was formed with the objectives of promoting, regulating and developing profession of cost accountancy in India
• It is under the administrative control of Ministry of Cooperate Affairs.
• The Institute is a founder member of International Federation of Accountants, Confederation of Asian and Pacific Accountants and South Asian Federation of Accountants.

About Institute of Chartered Accountants of India

• It is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountancy in India.
• It is the only licensing cum regulating body of the financial audit and accountancy profession in India.
• It recommends the accounting standards to be followed by companies in India to National Advisory Committee on Accounting Standards (NACAS).
• The institute has achieved recognition as a premier accounting body in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards.
• In India, accounting standards and auditing standards are recommended by the National Financial Reporting Authority (NFRA) to the Government of India which sets the Standards on Auditing (SAs) to be followed in the audit of financial statements in India.
• Membership: Members of the Institute are known as Chartered Accountants (CA). Becoming a member requires passing the prescribed examinations, three years of practical training and meeting other requirements under the Act and Regulations.

About Trademark

• It is a symbol, design, word or phrase that is identified with a business. When a trademark is registered, its owner can claim “exclusive rights” on its use. A trademark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises.
• The Trademark Act, of 1999, governs the regime on trademarks and their registration. The Act guarantees protection for a trademark that is registered with the Controller General of Patents, Designs, and Trademarks, also known as the trademark registry. A trademark is valid for 10 years, and can be renewed by the owner indefinitely every 10 years.
• Using a registered trademark without authorization of the entity that owns the trademark is a violation or infringement of the trademark.
  • Using a substantially similar mark for similar goods or services could also amount to infringement.
  • In such cases, courts have to determine whether this can cause confusion for consumers between the two.

MUST READ: Intellectual Property Rights https://iasbaba.com/2020/05/mind-maps-intellectual-rights-property-general-studies-3/

SOURCE: The Indian Express https://indianexpress.com/article/cities/delhi/delhi-hc-restrains-institute-cost-accountants-india-icai-acronym-8523151/

PREVIOUS YEAR QUESTIONS

Q1.  Consider the following statements:

1. National Payments Corporation of India (NPCI) helps in promoting the financial inclusion in the country.
2. NPCI has launched RuPay, a card payment scheme which of the statements given above is/are correct.

Which of the above statements is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q2. With reference to the ‘National Intellectual Property Rights Policy’, consider the following statements: (2017)

1. It reiterates India’s commitment to the Doha Development Agenda and the TRIPS Agreement.
2. Department of Industrial Policy and Promotion of the nodal agency for regulating intellectual property rights in India.

Which of the above statements is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q3) With reference to the “Tea Board” in India, consider the following statements: (2022)

1. The Tea Board is a statutory body.
2. It is a regulatory body attached to the Ministry of Agriculture and Farmers Welfare.
3. The Tea Board’s Head Office is situated in Bengaluru.
4. The Board has overseas offices at Dubai and Moscow.

Which of the statements given above are correct?

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

Syllabus

• Prelims – Environment and Ecology

Context: Gujarat has set the ball rolling to become the country’s green hydrogen manufacturing hub and retain its dominance over the industrial sector.

Types of Hydrogen Fuels

The sources and processes by which hydrogen is derived, are categorized by colour tabs

• Grey Hydrogen – Hydrogen produced from fossil fuels is called grey hydrogen; this constitutes the bulk of the hydrogen produced today.
• Brown Hydrogen – Brown hydrogen is produced using coal where the emissions are released to the air.
• Blue Hydrogen – Hydrogen generated from fossil fuels with carbon capture and storage options is called blue hydrogen.
• Green Hydrogen – Hydrogen generated entirely from renewable power sources is called green hydrogen. In the last process, electricity generated from renewable energy is used to split water into hydrogen and oxygen.

Significance of Green Hydrogen in India’s Energy Transition

• India has set its sight on becoming energy independent by 2047 and achieving Net Zero by 2070.
• To achieve this target, increasing renewable energy use across all economic spheres is central to India’s Energy Transition. Green Hydrogen is considered a promising alternative for enabling this transition

National Hydrogen Mission

On August 15, 2021, Prime Minister Modi announced a National Hydrogen Mission to make India a Global Hub for Green Hydrogen Production and Export.

• Government is targeting production of 5 million tonnes of green hydrogen by 2030.
• The policy allows free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia as it seeks to boost usage of the carbon-free fuel, and make India an export hub.

• It offers 25 years of free power transmission for any new renewable energy plants set up to supply power for green hydrogen production before July 2025.
• This means that a green hydrogen producer will be able to set up a solar power plant in Rajasthan to supply renewable energy to a green hydrogen plant in Assam and would not be required to pay any inter-state transmission charges.

• There will also be a single portal for all clearances required for setting up green hydrogen production as well as a facility for producers to bank any surplus renewable energy generated with discoms for upto 30 days and use it as required.
• Energy plants set up to produce green hydrogen/ammonia would be given connectivity to the grid on a priority basis.
• Power distribution companies may also procure renewable energy to supply green hydrogen producers but will be required to do so at a concessional rate.

• Such procurement would also count towards a state’s Renewable Purchase Obligation (RPO) under which it is required to procure a certain proportion of its requirements from renewable energy sources.

• Under the policy, port authorities will also provide land at applicable charges to green hydrogen and green ammonia producers to set up bunkers near ports for storage prior to export.

• Germany and Japan could be key markets for green hydrogen produced in India

• The move is likely going to make it more economical for key users of hydrogen and ammonia such as the oil refining, fertilizer and steel sectors to produce green hydrogen for their own use. These sectors currently use grey hydrogen or grey ammonia produced using natural gas or naphtha.

MUST READ: https://iasbaba.com/2021/10/indias-renewable-energy/

SOURCE: The Hindu https://www.google.com/search?q=Gujarat+green+hydrogen+hub&oq=Gujarat+green+hydrogen+hub&aqs=chrome..69i57j69i60.11798j0j4&sourceid=chrome&ie=UTF-8

PREVIOUS YEAR QUESTIONS

Q1.  With reference to ‘fuel cells’ in which hydrogen-rich fuel and oxygen are used to generate electricity, consider the following statements: (2015)

1. If pure hydrogen is used as a fuel, the fuel cell emits heat and water as by-products.
2. Fuel cells can be used for powering buildings and not for small devices like laptop computers.
3. Fuel cells produce electricity in the form of Alternating Current (AC)

Which of the statements given above is/are correct?

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

Syllabus

• Prelims : History

Context: The long-awaited Hindi translations of five classical Tibetan Buddhist texts, first obtained from Tibet by famous author Rahul Sankrityayan (1893-1963) for India, are now set for printing, according to Bhutan Live.

About Tibetan Buddhism

• Buddhism became a major presence in Tibet towards the end of the 8th century CE. It was brought from India at the invitation of the Tibetan king, Trisong Detsen, who invited two Buddhist masters to Tibet and had important Buddhist texts translated into Tibetan.
• First to come was Shantarakshita, abbot of Nalanda in India, who built the first monastery in Tibet. He was followed by Padmasambhava.
• Padmasambhava, also known as Guru Rinpoche, is honored and revered throughout the Tibetan cultural world, and even considered a second Buddha by followers of the Nyingma-pa sect.
• Tibetan Buddhism inherited many of the traditions of late Indian Buddhism, including a strong emphasis on monasticism, a sophisticated scholastic philosophy, and elaborate forms of tantric practice.
• Unique to Tibetan Buddhism is the institution of the tulku (incarnate lama): Tibetan Buddhists believe that compassionate teachers are reborn again and again, in each lifetime identified when they are children and invested with the office and prestige of their previous rebirths. Tibet has had many such lamas, the most famous of whom is the Dalai Lama.
• Special features of Tibetan Buddhism thus includes: the status of the teacher or “Lama”, preoccupation with the relationship between life and death, important role of rituals and initiations, rich visual symbolism, elements of earlier Tibetan faiths, mantras and meditation practice

Groups within Tibetan Buddhism

Nyingmapa: Founded by Padmasambhava, this is oldest sect, noted in the West for the teachings of the Tibetan Book of the Dead.

Kagyupa: Founded by Tilopa (988-1069), the Kagyupa tradition is headed by the Karmapa Lama. Important Kagyupa teachers include Naropa, Marpa, and Milarepa.

Sakyapa: Created by Gonchok Gyelpo (1034-1102) and his son Gunga Nyingpo (1092-1158).

Gelugpa: (The Virtuous School) Founded by Tsong Khapa Lobsang Drakpa (also called Je Rinpoche) (1357 – 1419), this tradition is headed by the Dalai Lama.

MUST READ: Buddhist Art https://unesdoc.unesco.org/ark:/48223/pf0000068910

SOURCE: The Print https://theprint.in/world/indias-pledge-to-revive-forgotten-buddhist-folklore-across-borders/1587170/

PREVIOUS YEAR QUESTION

Q1. With reference to Indian history, who among the following is a future Buddha, yet to come to save the world? (2018)

1. Avalokiteshvara
2.  Lokesvara
3.  Maitreya
4. Padmapani

Q.2) With reference to the religious history of India, consider the following statements: (2016)

1. The concept of Bodhisattva is central to the Hinayana sect of Buddhism.
2. Bodhisattva is a compassionate one on his way to enlightenment.
3. Bodhisattva delays achieving his own salvation to help all sentient beings on their path to it.

Which of the statements given above is/are correct?

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

Syllabus

• Prelims : Current events of international importance, general science

Context: ChatGPT, Stable Diffusion, MidJourney and Google Bard are rapidly changing the way we live, work and engage with each other. Those platforms are themselves evolving at an exponential rate based on what they learn from users. The costs involved are enormous, as are the stakes.

About Generative AI

• Generative AI is a set of algorithms, capable of generating seemingly new, realistic content—such as text, images, or audio—from the training data.
• Generative AI models can take inputs such as text, image, audio, video, and code and generate new content into any of the modalities mentioned. For example, it can turn text inputs into an image , turn an image into a song, or turn video into text.
• The most powerful generative AI algorithms are built on top of foundation models that are trained on a vast quantity of unlabeled data in a self-supervised way to identify underlying patterns for a wide range of tasks.
• For example, GPT-3.5, a foundation model trained on large volumes of text, can be adapted for answering questions, text summarization, or sentiment analysis. DALL-E, a multimodal (text-to-image) foundation model, can be adapted to create images, expand images beyond their original size, or create variations of existing paintings.
• The capabilities that generative AI supports can be summarized into three categories:

(a)Generating Content and Ideas : Creating new, unique outputs across a range of modalities, such as a video advertisement or even a new protein with antimicrobial properties (b) Improving Efficiency : Accelerating manual or repetitive tasks, such as writing emails, coding, or summarizing large documents (c) Personalizing Experiences : Creating content and information tailored to a specific audience, such as chatbots for a personalized customer experiences or targeted advertisements based on patterns in a specific customer’s behavior.

• Today, some generative AI models have been trained on large of amounts of data found on the internet, including copyrighted materials. For this reason, responsible AI practices have become an organizational imperative.
• Generative AI systems are democratizing AI capabilities that were previously inaccessible due to the lack of training data and computing power required to make them work in each organization’s context. The wider adoption of AI is a good thing, but it can become problematic when organizations don’t have appropriate governance structures in place.

MUST READ: Risks and dangers of Artificial Intelligence https://builtin.com/artificial-intelligence/risks-of-artificial-intelligence

SOURCE: Economic Times https://m.economictimes.com/tech/technology/ai-at-warp-speed-disruption-innovation-and-whats-at-stake/articleshow/100381948.cms

PREVIOUS YEAR QUESTION

Q.1) With the present state of development, Artificial Intelligence can effectively do which of the following? (2020)

1. Bring down electricity consumption in industrial units
2. Create meaningful short stories and songs
3. Disease diagnosis
4. Text-to-Speech Conversion
5. Wireless transmission of electrical energy

Select the correct answer using the code given below:

1. 1, 2, 3 and 5 only
2.  1, 3 and 4 only
3. 2, 4 and 5 only
4.  1, 2, 3, 4 and 5

Q1. Right to Assembly is protected as an intrinsic part of which of the following in the constitution of India?

1. Article 31 and the provisions under the 44th Amendment to the Constitution
2. Article 37 and the Directive Principles of State Policy in Part IV
3. Article 19 and the freedoms guaranteed in Part III
4. Article 21 and the provisions under the 86th Amendment to the Constitution

Q2. Consider the following statements:

1. The Corporate Debt Market Development Fund is introduced by the Reserve Bank of India.
2. It will be backstop facility for the purchase of investment grade corporate debt securities in times of stress or in case of market dislocation.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q3. Consider the following pairs:

1. Green Hydrogen – Hydrogen generated from fossil fuels with carbon capture and storage options.
2. Grey Hydrogen – Hydrogen produced from fossil fuels.
3. Brown Hydrogen – hydrogen produced using coal.
4. Blue Hydrogen – Hydrogen generated entirely from renewable power sources.

How many pairs given above is/ are correctly matched?

1. Only one pair
2. Only two pairs
3. Only three pairs
4. All four pairs

Comment the answers to the above questions in the comment section below!!

ANSWERS FOR ’ 22nd May 2023 – Daily Practice MCQs’ will be updated along with tomorrow’s Daily Current Affairs.st

Q.1) – d

Q.2) – d

Q.3) – b