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(PRELIMS & MAINS Focus)


International Financial Services Centres Authority (IFSCA) and the Council on Energy, Environment and Water (CEEW)

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Syllabus

Context: Recently the International Financial Services Centres Authority (IFSCA) and the Council on Energy, Environment and Water (CEEW) have signed a Memorandum of Understanding (MoU) for mutual assistance and cooperation in the area of sustainable finance.

About IFSCA:

Composition of the Authority (9 members):

Services an IFSC can provide:

About CEEW:

Source: PIB

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)

  1. Asian Development Bank
  2. International Monetary Fund
  3. United Nations Environment Programme Finance Initiative
  4. World Bank

Sand battery

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Syllabus

Context: Recently a Finland based company came up with sand-based battery to provide clean energy solution for Europe’s energy crisis. It is currently operational at town of Kankaanpaa in Finland.

About Sand Battery:

Key Features: The sand battery has three major interconnected components:

Working conditions:

Source:  DownToEarth


Muhammad Iqbal

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Syllabus

Context: Recently complaint has filed by Vishwa Hindu Parishad (VHP) against principal of government school and shiksha mitra for hurting religious sentiments by recitation of the prayer ‘Lab Pe Aati Hai Dua’ written by Muhammad Iqbal.

About Muhammad Iqbal:

Political career and Ideology:

Prominent works:

Source: Indian Express

Previous Year Question

Q.1) With reference to Madanapalle of Andhra Pradesh, which one of the following statements is correct? (2022)

  1. Pingali Venkayya designed the tricolour Indian National Flag here.
  2. Pattabhi Sitaramaiah led the Quit India Movement of Andhra region from here.
  3. Rabindranath Tagore translated the National Anthem from Bengali to English here.
  4. Madame Blavatsky and Colonel Olcott set up headquarters of Theosophical Society first here.

PRAKASHmay ‘15th Enertia Awards 2022’

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Syllabus

In News: NHPC won ‘Best Globally Competitive Power Company of India – Hydropower and Renewable Energy Sector’ in recognition of its leadership in the hydropower sector with a gross asset class renewable energy capacity of more than 7000 MW, for more than 5000 MW of projects under construction and an ambitious 7000 MW plus plan for Solar capacity addition.

Renewable Energy Sector

Renewable energy will comprise 90 per cent of global electricity capacity expansion in the next five years and much of it will be in India, according to a new study by the autonomous intergovernmental organisation, International Energy Agency (IEA).

In India

News Source: PIB


Minimum Support Prices (MSP) for copra season 2023

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Syllabus

In News: The Cabinet Committee on Economic Affairs, CCEA has approved Minimum Support Prices for copra for 2023 season.

Minimum Support Prices (MSP)

Factors for Recommending the MSP:

The CACP considers various factors while recommending the MSP for a commodity:

Source: News on AIR


Cuetlaxochitl: The story of America’s Christmas Eve shrub

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Syllabus

Context: The cuetlaxochitl, meaning “flower that grows in residues” in the Aztec language, became the Christmas Eve flower of modern times as well as a top-selling potted plant is a story replete with patents, a market monopoly and a leaked trade secret that finally undermined one American family’s control of the business in the 1990s after a nearly 100-year run.

The Story – A case of Biopiracy?

The poinsettia is a case study of what breeding skills combined with business acumen can achieve in a setting of intellectual property rights (IPRS). Where the people and the region that nurtured the plant for centuries and inspired its link with Christmas did not share the benefits of its commercialisation?

Source: Down to Earth


International Arbitration Centre

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Syllabus

In News: The New Delhi International Arbitration Centre (Amendment) Bill was passed by the Rajya Sabha on 14th December 2022.

Background

Objectives

Key Functions

Composition: The NDIAC will consist of seven members including:

Term and Superannuation

Finance and Audit

Institutional Support

India as an International hub of Arbitration

Alternative Dispute Resolution (ADR) Mechanisms

Source: The Indian Express


Digital India Programme

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Syllabus

Context: The Digital India Programme has made the country digitally empowered in the area of technology and innovation.

About the Digital India programme:

Digital India is a flagship programme of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. The programme was launched on July 1, 2015 by Hon’ Prime Minister Shri Narendra Modi.

Outcomes of the programme:

Significance of the Digital India campaign

Challenges:

Key initiatives undertaken by MeitY under the Digital India programme:

Way Forward:

Need of the hour is to establish an empowered entity needs to be set up which is accountable for quality and timeliness to design and construct digital highways, and their rural branches, and ensure their optimum utilisation by sharing the infrastructure. Digital skills, required today both for life and for livelihoods, must be imparted on a war footing by transforming government digital literacy programmes into skilling missions, and expanding outreach, including through the private sector.

The Social media sites can use their “algorithm power” to proactively tackle the issue of safety. Thus, the government needs to strengthen laws that hold online abusers to account, and the public to speak up whenever they witnessed abuse online.

Source: The Hindu


Building Disabled Friendly Infrastructure

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Syllabus

Context: Recently, a Lok Sabha Member of Parliament (MP) reached the Parliament in a wheelchair and flagged the issue of poorly equipped support infrastructure available to people with disabilities in India.

About Persons with Disabilities(PwDs):

Current statistics in India

Constitutional provisions with regard to PwDs:

Legal Provisions:

Issues and Challenges Involved:

Government Initiatives to augment disabled friendly infrastructure

Accessible India Campaign (AIC): A case of failed enforcement

For Example:

Way Forward:

Source:Indian Express

 


Baba’s Explainer – Minimum Tax on Big Businesses

Minimum Tax on Big Businesses

Syllabus

Context: Members of the European Union agreed in principle to implement a minimum tax of 15% on big businesses.

Last year, 136 countries had agreed on a plan to redistribute tax rights across jurisdictions and enforce a minimum tax rate of 15% on large multinational corporations.

Read Complete Details on Minimum Tax on Big Businesses


Practice MCQs

Daily Practice MCQs

Q.1) Consider the following:

  1. Cost of production
  2. Changes in input prices
  3. Input-output price parity
  4. Trends in market prices

Which of the above are considered while recommending Minimum Support Price by the Commission for Agricultural Costs & Prices (CACP)?

  1. 1 and 3 only
  2. 2 and 4 only
  3. 1 2 and 4 only
  4. All of the above

Q.2) Consider the following statements regarding International Union for the Protection of New Varieties of Plants (IUPNVP):

  1. It is an intergovernmental organization with headquarters in Geneva (Switzerland).
  2. India is a member country.
  3. The Convention was adopted in Paris in 1961 and it was revised in 1972, 1978 and 1991.

Which of the statements given above are correct?

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

Q.3) Consider the following statements regarding Council on Energy, Environment and Water (CEEW):

  1. CEEW) is one of Asia’s leading not-for-profit policy research institutions.
  2. The Council uses data, integrated analysis, and strategic outreach to explain and change – the use, reuse, and misuse of resources.

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

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

ANSWERS FOR ’ 24th December 2022 – Daily Practice MCQs’ will be updated along with tomorrow’s Daily Current Affairs.st


ANSWERS FOR 23rd December – Daily Practice MCQs

Answers- Daily Practice MCQs

Q.1) – c

Q.2) – a

Q.3) – a

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