August 2024 Get.Set.Law Monthly Magazine PDF

Get.Set.Law Monthly Magazine August 2024 The Contents CURRENT AFFAIRS 03 CURRENT AFFAIRS EXERCISE 43 LEGAL CURRENT AFFAIRS 50 LEGAL CURRENT AFFAIRS EXERCISE 58 ANSWER KEY 72 2 CURRENT AFFAIRS NEWS 1 | NATIONAL 1.1. Governance & Policy 1.1.1. PM DEFENDS AGNIPATH SCHEME ON ANNIVERSARY OF KARGIL WAR Why in the News? In his address on ‘Kargil Vijay Diwas’ to mark the 25th anniversary of victory in Kargil war, PM Modi said some people were playing politics over a sensitive issue related to national security and rubbished claims that the ‘Agnipath’ scheme was launched to save pension money. About: It allows youth ( referred to as Agniveer under this scheme) to serve in the Armed Forces for a period of four years. The scheme aims to recruit approximately 45,000 to 50,000 Agniveers each year. After the initial four-year service, only 25% of Agniveers will be selected for further service, extending their tenure by 15 years. Eligibility Criteria: Applicants must be between 17.5 and 23 years old. The scheme is applicable only to personnel below officer ranks, not for commissioned officers. Objectives: It is expected to bring down the average age profile of the Indian Armed Forces by about 4 to 5 years. The scheme envisions that the average age in the forces is 32 years today, which will go down to 26 in six to seven years. Upon the completion of the 4-years of service, a one-time ‘Seva Nidhi’ package of Rs 11.71 lakhs will be paid to the Agniveers that will include their accrued interest thereon. They will also get a Rs 48 lakh life insurance cover for the four years. In case of death, the payout will be over Rs 1 crore, including pay for the unserved tenure. The government will help rehabilitate soldiers who leave the services after four years. 3 1.1.2. U-WIN Portal Why in the News? On the government’s 100-day health agenda is the countrywide rollout of U-WIN, an online vaccine man- agement portal for childhood vaccination — similar to CoWIN used during the Covid-19 pandemic. What is U-WIN? How does it work U-WIN Registration: Children (up to six years) and pregnant mothers are registered using government IDs like Aadhaar and mobile numbers. Vaccination Record: Records all 25 vaccines given to children and two vaccines given to pregnant mothers. Generates a digital vaccination certificate with color-coded vaccine status. Date of each administered vaccine is added to the certificate, along with the due date for the next dose. Reminders and Accessibility: Sends SMS reminders to parents before the next vaccine dose is due. Allows parents to download the digital vaccine certificate using their registered mobile numbers. Enables vaccination at any location across the country. Provides features to locate the nearest vaccination center and book slots. For Health Workers: Automatically generates a due-list of children in specific areas for health workers. Helps study micro-trends in vaccination across different regions. Birth Registration: Registers all births and records the administration of three vaccines (polio, hepatitis B, and tuberculosis) given at birth. Captures additional data like birth weight and any physical deformities observed at birth. Integration with Other Programs: Data can be utilized by other government programs. Aims to eventually connect all digital health records through ABHA (Ayushman Bharat Health Account) ID. 1.1.3. Maharashtra govt nod for Wainganga-Nalganga river linking project Why in the news? The Wainganga-Nalganga (Purna Tapi) River linking project will irrigate 3.7 lakh hectares of agricul- tural land in six districts in Vidarbha region. Under the project, excess water from Gosikhurd dam in Bhandara district will be diverted to Nalganga dam in Buldhana district in western Vidarbha by construct- ing 426.52km of link canals. The National Water Development Agency (NWDA) presented the detailed project report in 2018 and the project has since received approval from the Central Water Commission. It will supplement the National River Linking Project (NRLP). About NRLP NRLP is based on the National Perspective Plan (NPP) which was prepared by the then Ministry of Irrigation (now Ministry of Jal Shakti) in 1980 for transferring water from water surplus basins to water-deficit basins. 4 Under the NPP, the NWDA has identified 30 links (16 under Peninsular Component & 14 under Himalayan Component) for Feasibility Reports. In 2021, the Union Cabinet approved the implementation of Ken Betwa river link - first interlinking of rivers project. About Wainganga and Nalganga (Purna Tapi) River Wainganga River Source: Mahadeo Hills (Madhya Pradesh) Wainganga, is called Pranhita after the confluence of river Wardha, is a major tributary of river Godavari. Its riparian States include Chhattisgarh, Madhya Pradesh, Maharashtra and Telangana. Nalganaga is the main left bank tributaries of river Purna and a sub-tributary of Tapi river. 1.1.4. Underwater Structures in the Indian Ocean Why in News? Recently, three underwater structures in the Indian Ocean were named as Ashoka, Chandragupt, and Kalpataru, which reflect India’s growing influence in marine science and its commitment to exploring and understanding the Indian Ocean. This naming was proposed by India and approved by the International Hydrographic Organisation (IHO) and UNESCO’s Intergovernmental Oceanographic Commission (IOC). About Underwater Structures: Background and Significance: Part of the Indian Southern Ocean Research Programme initiated in 2004. Coordinated by the National Centre for Polar and Ocean Research (NCPOR). Focuses on bio-geochemistry, biodiversity, and hydrodynamics. Total Structures: Seven underwater structures are named, primarily after Indian scientists or names proposed by India. Previously Named Structures: Raman Ridge (1992): Discovered in 1951 by a US oil vessel, named after Sir CV Raman. Panikkar Seamount (1993): Discovered in 1992 by Indian research vessel Sagar Kanya, named after oceanographer NK Panikkar. Sagar Kanya Seamount (1991): Named after the research vessel Sagar Kanya following its discovery in 1986. DN Wadia Guyot (1993): Named after geologist DN Wadia, discovered in 1992 by Sagar Kanya. Recently Named Structures: Ashoka Seamount (2012): An oval-shaped structure of 180 sq km, discovered by the Russian vessel Akademik Nikolay Strakhov. Kalpataru Ridge (2012): An elongated ridge covering 430 sq km, believed to support marine biodiversity. Chandragupt Ridge (2020): An elongated ridge of 675 sq km, identified by the Indian research vessel MGS Sagar. 5 About International Hydrographic Organisation (IHO) It is an intergovernmental consultative and technical body established in 1921 to enhance navigation safety and protect the marine environment. India is a member of the IHO. Objectives: Coordinating the activities of national hydrographic offices. Achieving the highest possible uniformity in nautical charts and documents. Promoting the adoption of reliable and efficient methods for conducting and utilising hydrographic surveys. Advancing the sciences of hydrography and the techniques used in descriptive oceanography. About UNESCO’s Intergovernmental Oceanographic Commission (IOC) It promotes international cooperation in marine sciences, capacity development, ocean observations and services, ocean science, tsunami warning, and ocean literacy. It has 150 member states, and India has been a member since 1946. The IOC’s work contributes to UNESCO’s mission to promote the advancement of science and its applications for economic and social progress. The IOC is coordinating the United Nations Decade of Ocean Science for Sustainable Development 2021-2030, also known as the “Ocean Decade.” 1.1.5 India’s First Grain ATM Why in news? The Odisha government introduced the state’s first Grain ATM, a new technology designed to improve food distribution under the National Food Security Programme on August 08, 2024. This machine is part of the central government’s Annapurti programme and was developed with help from the World Food Programme (WFP) to enhance food security in the region. What is a Grain ATM? Grain ATMs are automated machines that dispense food grains directly to people, aiming to reduce hun- ger and ensure fair distribution. Introduced during the COVID-19 pandemic, they minimize human inter- vention, cutting down on corruption. Some use biometric authentication and provide fortified grains for better nutrition. The goal is to enhance food supply efficiency and reduce waste. What are the Key Features? 24/7 Access: The ATMs are available all day, every day, for people across Odisha to get food grains. Universal Access: Any person with a valid ration card from anywhere in India can use the ATM, no matter where they live. Fast Dispensing: The machine can give out up to 50 kilograms of grains in just five minutes and operates with a high accuracy of 99.99%. Modular Design: The machine is designed to be easily assembled and set up in different locations. Energy Efficiency: The ATMs use energy efficiently and can be powered by solar panels for automatic refilling. 6 1.2.Schemes 1.2.1. Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0: Why in News? The Union Cabinet approved a new version of the Pradhan Mantri Awas Yojana-Urban (PMAY-U) program. Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0: Approval: The Union Cabinet approved PMAY-U 2.0 on August 9, 2024. Objective: To provide financial assistance for the construction, purchase, or rental of affordable housing to one crore urban poor and middle-class families. Target Beneficiaries: Urban poor and middle-class families. Families must belong to the Economically Weaker Section (EWS), Low Income Group (LIG), or Middle Income Group (MIG) segments. Families must not own a ‘pucca’ house anywhere in the country. Current Status of PMAY-U: 1.18 crore houses have been sanctioned under PMAY-U. More than 85.5 lakh houses have been constructed and delivered to beneficiaries. Financial Details: The scheme will be implemented over the next five years. Total government subsidy: ₹2.30 lakh crore. Total investment: ₹10 lakh crore. Credit Risk Guarantee Fund: The corpus fund has been increased from ₹1,000 crore to ₹3,000 crore. Benefits will be provided for affordable housing loans from banks, housing finance companies, and primary lending institutions to EWS/LIG segments. Management of the Credit Risk Guarantee Fund will be transferred from the National Housing Bank to the National Credit Guarantee Company. The Credit Risk Guarantee Fund Scheme will be restructured, and modified guidelines will be issued by the Ministry of Housing and Urban Affairs. Coverage Area: All statutory towns as per Census 2011 and towns notified subsequently. Notified Planning Areas, areas within Notified Planning/Development areas under various state legislations, including Industrial Development Authorities, Special Area Development Authorities, and Urban Development Authorities, are included in the scheme. 1.2.2. Clean Plant Programme Why in News? The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved the Clean Plant Programme (CPP) proposed by the Ministry of Agriculture and Farmers Welfare. 7 With a substantial investment of Rs.1,765.67 crore, this pioneering initiative is set to revolutionize the horticulture sector in India and expected to set new standards for excellence and sustainability. An- nounced earlier in the Budget Speech by the Finance Minister in February 2023, the CPP represents a major leap forward in enhancing the quality and productivity of fruit crops across the nation. Key Benefits of the Clean Plant Programme (CPP): Farmers: The CPP will provide access to virus-free, high-quality planting material, leading to increased crop yields and improved income opportunities. Nurseries: Streamlined certification processes and infrastructure support will enable nurseries to efficiently propagate clean planting material, fostering growth and sustainability. Consumers: The initiative will ensure that consumers benefit from superior produce that is free from viruses, enhancing the taste, appearance, and nutritional value of fruits. Exports: By producing higher-quality, disease-free fruits, India will strengthen its position as a leading global exporter, expanding market opportunities and increasing its share in the international fruit trade. The Programme will prioritize affordable access to clean plant material for all farmers, regardless of their landholding size or socioeconomic status. The Programme will actively engage women farmers in its planning and implementation, ensuring their access to resources, training and decision-making opportunities. The Programme will address the diverse agro-climatic conditions across India by developing region-specific clean plant varieties and technologies. 1.2.3. ‘Model Solar Village Why in News? The Scheme Guidelines for implementation of ‘Model Solar Village’ under PM-Surya Ghar: Muft Bijli Yoja- na have been notified by the Ministry of New and Renewable Energy on 9th August 2024. Allocation: ₹800 crore for the scheme, with ₹1 crore allocated per selected Model Solar Village. Eligibility: Revenue villages with a population above 5,000 (or 2,000 for special category states). Villages selected through a competitive mode based on renewable energy (RE) capacity installed 6 months after being declared a potential candidate by the District Level Committee (DLC). Selection Process: Villages assessed on overall distributed RE capacity. The village with the highest RE capacity in each district receives ₹1 crore in central financial assistance. Implementation: Managed by State/UT Renewable Energy Development Agencies under DLC supervi- sion. Scheme Background: Approved on February 29, 2024. Part of the PM-Surya Ghar: Muft Bijli Yojana, which aims to increase solar rooftop capacity and empower residential households. Total scheme outlay: ₹75,021 crore, to be implemented until FY 2026-27. 8 1.2.4. Master clock system for railways Why in News? For the first time, Indian Railways is set to develop a master clock system to synchronize time across its entire network, addressing issues with the current manual time-keeping method. This initiative arose due to difficulties in investigating rail accidents caused by time mismatches across different systems and applications. The existing system involves station masters setting time manually based on instructions from section controllers, leading to discrepancies during accident investigations. The new master clock system will source time from reliable sources like NAVIC or the National Physical Laboratory (NPL) and will be integrated across various railway applications and systems. This synchronized time system will enhance operational efficiency and improve the accuracy of post-in- cident analyses. 1.2.5. PM-PRANAM Scheme and Increased FRP Why in news? Cabinet Committee on Economic Affairs (CCEA), approved the PM-PRANAM scheme, aimed at restoring and nurturing Mother Earth through the use of biofertilizers. Furthermore, the Fair and Remunerative Price (FRP) for sugarcane has been increased by Rs 10 to Rs 315 per quintal for the 2023-24 season starting from October. Additionally, the government has extended the urea subsidy scheme until March 2025 with an allocation of ₹3.68 lakh crore. Alongside, a nutrient-based subsidy of ₹38,000 crore has been sanctioned for the Kharif season of 2023-24. What is the PM-PRANAM Scheme? About: PM-PRANAM stands for PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth. PM-PRANAM was first announced in the 2023-24 Budget by the Union government. The scheme aims to reduce the use of chemical fertilizers by incentivizing states to adopt alternative fertilizers. Objective: Encourage the balanced use of fertilizers in conjunction with biofertilizers and organic fertilizers. Reduce the subsidy burden on chemical fertilizers, which was around Rs 2.25 lakh crores in 2022- 2023. Key Features of the Scheme: Financing: The scheme will be financed by the savings of existing fertilizer subsidies under schemes run by the Department of Fertilizers, Ministry of Chemicals & Fertilizers. There will be no separate budget for the PM-PRANAM scheme. Subsidy Savings and Grants: The Centre will provide 50% of the subsidy savings to the states as a grant. Out of the grant, 70% can be used to create assets related to the technological adoption of alternative fertilizers and production units at various levels. 9 The remaining 30% can be used to reward and encourage farmers, panchayats, and other stakeholders involved in fertilizer reduction and awareness generation. Calculation of Fertilizer Reduction: The reduction in urea consumption by a state will be compared to its average consumption of urea over the previous three years. This calculation will determine the eligibility for subsidy savings and grants. Promotion of Sustainable Agriculture: Encouraging the use of biofertilizers and organic fertilizers will promote sustainable agricultural practices. This will enhance soil fertility, reduce environmental pollution, and support long-term agricultural productivity. 2 | INTERNATIONAL 2.1.India & The World 2.1.1. India , china hold 30th round of border talks Why in News? India and China conducted the 30th meeting of the Working mechanism for consultation and coordina- tion on India-China Border Affairs in New Delhi. HIGHLIGHTS The two countries have been holding Corps Commander levels and the WMCC talks at the military and diplomatic levels as part of efforts to resolve the stand-off along the LAC in eastern Ladakh. The 21st round of Corps Commander talks were held in February though it did not reach a breakthrough towards disengagement in the two remaining friction areas. Gourangalal Das, Joint Secretary (East Asia), led the Indian delegation. The Chinese delegation was led by Hong Liang, Director General of the Boundary and Oceanic Department of the Chinese Ministry of Foreign Affairs. AIM : talks were focussed on finding an early resolution of the remaining issues along LAC INDIA - CHINA BACKGROUND In 1950, India became the first non-socialist bloc country to establish diplomatic relations with the People’s Republic of China. The two countries also jointly expounded the Panchsheel (Five Principles of Peaceful Coexistence) in 1954. Though the border conflict in 1962 was a serious setback to bilateral ties, India and China restored ambassadorial relations in August 1976. Indian PM Rajiv Gandhi’s landmark visit in 1988 marked the beginning of improvement in bilateral relations. In 1993, the signing of an Agreement on the Maintenance of Peace and Tranquillity along the Line of Actual Control on the India-China Border Areas reflected the growing stability in bilateral ties. Signed the Declaration on Principles for Relations and Comprehensive Cooperation in 2003. In 2005, the two sides established a Strategic and Cooperative Partnership for Peace and Prosperity. 10 2020 marked the year of the 70th anniversary of the establishment of diplomatic relations between China and India In 2014, the two sides redefined the bilateral engagement as Closer Developmental Partnership. 2.1.2. IPEF elects India as Vice-Chair of Supply Chain Council Why in News? “India has been elected as Vice-Chair of the Supply Chain Council — one of the three bodies set up by the 14-member Indo-Pacific Economic Framework (IPEF) bloc,” the Commerce Ministry said on July 31. About Indo-Pacific Economic Framework (IPEF) IPEF was launched on May 23, 2022, in Tokyo. The members are Australia, Brunei, Fiji, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam and the U.S. The IPEF seeks to strengthen economic engagement and cooperation among partner countries with the goal of advancing growth, economic stability and prosperity in the region. The framework is structured around four pillars relating to Trade (Pillar I), Supply Chain Resilience (Pillar II), Clean Economy (Pillar III), and Fair Economy (Pillar IV). India had joined Pillars II to IV of IPEF while it has maintained an observer status in Pillar-I. 2.1.3. India-Australia Boost Maritime Ecology in Indo-Pacific Initiative Why in news? The 6th India-Australia Maritime Security Dialogue took place in Canberra. The meeting focused on ensuring a safe and secure maritime environment and working together on the maritime ecology part of the Indo-Pacific Ocean Initiative. Key Discussions Maritime Security: Focused on maintaining a safe and secure maritime environment for inclusive growth and global well-being. Topics Covered: Maritime security in the Indo-Pacific region Maritime domain awareness: It includes Monitoring and understanding maritime activities Humanitarian Assistance and Disaster Relief (HADR): Coordination and response efforts for emergencies 11 Regional and multilateral engagements: Collaborating with other countries and organisations. Sustainable use of marine resources Key Areas of Cooperation Search and Rescue (SAR) : Joint efforts to assist in emergency situations at sea Pollution Response: Working together to tackle marine pollution Blue Economy: Promoting sustainable economic use of ocean resources Port State Control : Ensuring ships meet safety and environmental standards Indo-Pacific Oceans Initiative (IPOI) Overview IPOI is an open, non-treaty initiative for countries to collaboratively address common regional challenges. Region: Covers the Indian and Pacific Oceans. Purpose: Addresses global security and economic issues in the region. Origin: Extends from India’s SAGAR initiative (2015). Proposal: Initiated by Indian PM Narendra Modi at the 14th East Asian Summit (November 4, 2019). Objectives Strengthen Maritime Boundaries: Improve maritime security in the region. Promote Free Trade and Sustainable Use: Support free trade and responsible resource management. Advance Democratic Governance: Foster a rules-based order for economic growth. Develop Cooperative Mechanisms: Collaborate with like-minded countries. Seven Pillars Maritime Security: Ensuring safety at sea. Maritime Ecology: Protecting the marine environment. Maritime Resources: Sustainable use of ocean resources. Capacity Building and Resource Sharing: Enhancing skills and sharing resources. Disaster Risk Reduction and Management: Handling maritime disasters. Trade Connectivity and Maritime Transport: Improving trade routes and transport. Science, Technology, and Academic Collaboration: Promoting research and partnerships. 12 2.1.4. 3rd Voice of Global South Summit 2024 (VOGSS) Why in News? India hosted the 3rd Voice of Global South Summit on 17th August 2024, in virtual format, with the over- arching theme, “An Empowered Global South for a Sustainable Future”. 123 countries participated in the 3rd VOGSS. However, China and Pakistan were not invited. India had hosted the 1st VOGSS on 12-13th January 2023, and the 2nd VOGSS on 17th November 2023, both in virtual format Voice of the Global South Summit (VOGSS) About: A unique India-led initiative that brings together countries of the Global South to share perspectives and priorities on a common platform. Reflects India’s philosophy of Vasudhaiva Kutumbakam (“One Earth, One Family, One Future”) and the vision of Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas. Need: Recent global issues (e.g., COVID-19, Ukraine conflict, debt, food and energy security) have severely impacted developing countries. Concerns of the developing world often lack attention and resources. Existing platforms are inadequate for addressing these challenges. Key Outcomes of 3rd VOGSS 2024: Global Development Compact (GDC): A proposal including: Trade for development Capacity building for sustainable growth Technology sharing Concessional finance and grants Funding and Support: USD 2.5 million for trade promotion USD 1 million for trade policy and negotiation capacity building Healthcare Promotion: Affordable generic medicines Training for drug regulators Sharing of natural farming technology Reforming Global Institutions: Need for inclusive global governance Addressing Global South concerns and responsibilities of developed countries Collaboration for SDGs: Focus on achieving Sustainable Development Goals and rapid development beyond 2030 Strengthening efforts in finance, health, climate, technology, governance, energy, trade, youth empowerment, and digital transformation Global South: Term coined by Carl Oglesby in 1969. Refers to regions in Latin America, Asia, Africa, and Oceania, generally low-income and marginalized. 13 Includes countries outside Europe and North America. China and India are key proponents. Brandt Line: Represents the economic divide between the rich Global North and poor Global South, proposed by Willy Brandt in the 1970s. 2.1.5. Fundamental Principles and Rights at Work (FPRW) Project Why in News? The Confederation of Indian Textile Industry (CITI) and the International Labour Organisation (ILO) have jointly launched the project titled Fundamental Principles and Rights at Work (FPRW). It will help create awareness and share technical know-how and knowledge about the best labour standards. What is ILO’s Fundamental Principles and Rights at Work (FPRW) Project? It is a commitment by governments, employers’ and workers’ organisations to uphold basic human values that are vital to our social and economic lives. The ILO Declaration on Fundamental Principles and Rights at Work (FPRW) was adopted in 1998 and amended in 2022. Increasing concerns about the social impact of globalisation led the members of the ILO to recognize four categories of labour standards, expressed in eight conventions. In 2022, four categories were amended to become five categories with the addition of the occupation of safety and health conventions, expressed in ten conventions. The five categories of the ILO’s Fundamental Principles and Rights at Work (FPRW) are: 1. Freedom of Association and Collective Bargaining: Ensures the right to form unions and negotiate work conditions. 2. Elimination of Forced Labor: Abolishes all forms of forced or compulsory labor. 3. Abolition of Child Labor: Eliminates child labor and protects children from harmful work. 4. Elimination of Discrimination in Employment: Promotes equality and prevents discrimination in the workplace. 5. Safe and Healthy Working Conditions: Ensures safe and healthy work environments for all workers. 2.2.World News 2.2.1 Palestine site gets UNESCO tag put on heritage in danger list Why in News ? The Saint Hilarion Monastery, also known as Tell Umm Amer, located in Gaza, Palestine, has been added to the UNESCO World Heritage List. ANALYSIS It was simultaneously placed on the List of World Heritage in Danger due to the ongoing conflict and other threats. The inclusion was made after an “emergency nomination,” highlighting the site’s urgent need for protection and international attention. This dual listing aims to provide awareness and seek international support to 14 2.2.2. Italy and China sign a 3 year action plan during Meloni’s visit WHY IN NEWS ? Italy and China signed a three year action plan on Sunday to implement past agreements and experiment with new forms of cooperation. ANALYSIS Italian Prime Minister Giorgia Meloni announced she was signing a three-year action plan to revive cooperation with China. Italy had last year pulled out of China’s Belt and Road Initiative (BRI), having been the only G7 country to sign up in 2019 to the infrastructure and transportation plan that seeks to build a sort of modern-day Silk Road. Electric vehicles have also become a symbol of growing China-EU trade tensions, with the European Union imposing provisional tariffs of up to 37.6% on China-made electric vehicles in early July. China launched an anti-dumping investigation into European pork exports, just days after the EU announced it would impose the tariffs on Chinese EVs. 2.2.3. AUKUS Submarine (SSN-A) Programme: Why in News? Under the AUKUS Agreement, Australia will buy up to five nuclear submarines from the US in the early 2030s before jointly building and operating a new class, SSN-AUKUS, with Britain, around a decade later. The pact will see Australia become the seventh nation to operate nuclear-powered submarines. All AUKUS partners are significantly investing to ensure program success, reshaping and integrating their industrial bases to facilitate SSN cooperation. Recent Developments: On the day of the funding announcement, Taiwan reported detecting 36 Chinese military aircraft in its vicinity over the previous 24 hours, marking the highest number observed in 2024. What Is the AUKUS Agreement? In 2021, Australia, the United Kingdom, and the United States have formed a significant trilateral security partnership named AUKUS for the Indo-Pacific. Motive: To Bolster the Collective industrial base capacity and Stimulate economic growth within the defense and national security sectors of the involved nations. Pivotal features : Transfer of US nuclear submarine technology to Australia. Strategic orientation towards the Indo-Pacific: Position the alliance as a countermeasure to China’s increasingly assertive maneuvers in the South China Sea. 2.2.4. Without reforms, UNSC ‘ill-equipped’ to address global challenges: G4 nations Why in News? A reform of the UN Security Council that does not address the lack of representation, particularly in the permanent category, would only “exacerbate” the current imbalances in its composition and render it “ill-equipped” to address current global challenges, India has said on behalf of the G4 countries. 15 Key Concerns: Reform of the UN Security Council (UNSC) that does not address representation issues, especially in the permanent category, would worsen current imbalances. The UNSC’s current composition is seen as ineffective in addressing global challenges due to outdated representation based on 1945 realities. Representation Issues: Current lack of representation for Africa, Latin America, and the Caribbean. Under-representation of Asia Pacific in the permanent category. G4 Reform Proposal: Increase UNSC membership from 15 to 25-26 members. Add six new permanent members: Two from African States. Two from Asia Pacific states. One from Latin American and Caribbean states. One from West European and Other States. Add four or five new non-permanent members. Veto Power: Support for extending veto rights to all permanent members (new and old), aligning with the Common African Position. Objective of Reforms: Address historical injustices. Enhance African representation and overall effectiveness of the UNSC. 2.2.5. ICJ to Present Advisory Opinion on Global Environmental Obligations Why in news? The International Court of Justice (ICJ) is set to provide an advisory opinion on December 2, 2024, con- cerning the legal obligations of states to combat climate change. About the News Global Demand for Legal Clarity: There is a widespread international demand for clear guidelines on climate commitments, particularly from countries most at risk from climate change, like small island states. Appeal by Vulnerable Nations: Among the 62 nations that petitioned the ICJ for an advisory opinion on climate accountability are island nations from Oceania, Micronesia, and the Caribbean, such as Antigua and Barbuda, El Salvador, Grenada, Saint Lucia, and Saint Vincent and the Grenadines. Notably, India did not join this group, although neighboring countries like Pakistan, Sri Lanka, and Bangladesh did. No Legally Binding Climate Commitments: Currently, global efforts to mitigate climate change are not legally enforceable, leaving a significant gap in ensuring international accountability. Earlier Efforts: Tuvalu: The Pacific nation of Tuvalu (part of Oceania) decided to approach the ICJ in a historic claim against Australia in the first such case in 2002. 16 Vanuatu: In 1991, another Pacific nation of Vanuatu championed the cause of island nations by taking up the first Chair of the Alliance of Small Island States (AOSIS). Its efforts culminated with the inclusion of insurance for the loss and damage due to climate change in the agenda of the UNFCCC. On August 16, the ICJ announced its intention to consider various arguments before issuing its advisory opinion in December. These arguments include: State Obligations: Responsibilities of states under international law to protect the climate system for current and future generations. Legal Consequences: Potential legal outcomes for states failing to meet these obligations. Vulnerability of Island States: Particular attention to small island developing states, which are most vulnerable to climate change. Impact on Future Generations: Consideration of the effects of climate change on present and future populations. Nature of the Advisory Jurisdiction. Non-Binding Opinion: The ICJ’s advisory opinions are not legally binding. However, they carry significant weight in guiding international law and influencing state behavior. Clarification of International Law: These opinions help clarify international law, contributing to its development and the strengthening of peaceful relations between states. Influence on Policy: Although non-binding, advisory opinions can influence national and international policies by providing a legal interpretation of states’ obligations. Flexibility for Implementation: The entities requesting the advisory opinion are free to decide how to implement the ICJ’s guidance, offering flexibility in its application. Concerns of Island States High Vulnerability: Island nations are highly susceptible to the adverse effects of climate change, such as rising sea levels and extreme weather events. Existential Threats: Some island nations, like Tuvalu, face the possibility of being completely submerged by rising ocean levels within a few decades. 3 | ECONOMY 3.1. NARCL Aims to Acquire Rs 2 Trillion Stressed Assets by FY26 Why in News? The National Asset Reconstruction Company Ltd (NARCL), the government-backed bad bank, has set an ambitious target to acquire Rs 2 trillion in stressed assets by FY26. Bad Banks: Overview Definition: Bad banks are asset reconstruction companies that buy, manage, and recover bad loans and manage non-performing assets (NPAs) from commercial banks to liquidate transferred assets. Purpose: They provide a safety net for banks by allowing them to offload bad loans, enabling a focus on healthier lending activities. Evolution of Bad Banks Origin: The concept emerged in the 1980s with institutions like Grant Street National Bank, which acquired bad assets from Mellon Bank. 17 2008 Financial Crisis: The concept gained prominence during the crisis, with countries like Sweden, Germany, and France implementing similar models to manage bad assets. India: India’s first bad bank, NARCL, was established in 2021 to manage bad assets in public sector banks, following a proposal in the 2016 Economic Survey. Global Trend: This move aligns with the global trend of using bad banks to stabilize financial systems burdened by distressed loans. Advantages of Bad Banks Centralized Management: Centralizes the management of NPAs, streamlining efforts, and increasing efficiency in asset resolution. Capital Relief: By transferring NPAs to a bad bank, originating banks can free up capital held as provisions, potentially increasing lending to more creditworthy customers. Enhanced Confidence: Government backing of bad banks can boost confidence in originating banks, improving their capital buffers and financial stability. Disadvantages of Bad Banks Public Sector Burden: Transferring bad assets to a government-backed entity can shift the burden within the public sector, possibly leading to taxpayer liabilities for any losses. Moral Hazard: Government bailouts might discourage banks from exercising caution in lending, potentially leading to a repeat of the same issues. Current Challenges for Bad Banks Price Discovery: Difficulties in pricing bad loans and determining future liabilities. Finding Buyers: Challenges in selling portfolios of distressed assets, especially without established market mechanisms or precedents. Economic Conditions: Weak economic conditions can depress asset values and reduce the pool of potential buyers. What is NARCL? About: Designed as a “bad bank,” NARCL aims to cleanse the financial system of distressed loans, thereby stabilizing banks and fostering a healthier economic environment. NARCL was announced in the Union Budget 2021-22 to handle large loans of over Rs 500 crore. Initial delays occurred due to the Reserve Bank of India’s dissatisfaction with the proposed structure, leading to a revised plan. Under the new structure NARCL acquires and aggregates bad loan accounts from banks. India Debt Resolution Co. Ltd (IDRCL) handles the resolution process, operating under an exclusive arrangement with NARCL. Role of NARCL: Purchase bad loans from commercial banks. Manage these distressed assets. Sell them in the market through bidding methods like Swiss Challenge to recover funds and liquidate the transferred assets. Funding and Ownership: NARCL’s acquisition strategy involves paying 15% of the agreed loan value in cash and the remaining 85% in government-backed security receipts. State-owned banks hold a 51% stake in NARCL, with the remaining stake owned by private banks. 18 3.2. Monetary Policy Committee Why in News? The Reserve Bank of India’s (RBI) six-member Monetary Policy Committee (MPC) has kept the repo rate unchanged at 6.5 per cent for the ninth time amid risks from higher food inflation. About Monetary Policy Committee (MPC): Role: The MPC is responsible for setting India’s benchmark interest rate. Meeting Frequency: The committee meets at least four times a year. Decision Publication: Decisions are published after each meeting, with each member’s position on the rate decision disclosed. Membership: The MPC has six members: Three from the Reserve Bank of India (RBI). Three appointed by the government. Decision-Making Process: The committee is chaired by the RBI Governor. Decisions are made by majority vote. The RBI Governor has a casting vote in the event of a tie. Confidentiality: A “silent period” is observed to ensure utmost confidentiality surrounding rate decisions. Mandate: The MPC’s mandate is to maintain an annual inflation rate of 4%, with a tolerance range of 2-6%, until March 31, 2026. History and Formation of MPC: Pre-MPC Era: Before the MPC was formed, the RBI Governor made all significant interest rate decisions independently. Establishment: The MPC was established under the Reserve Bank of India Act, 1934. It was created to increase transparency and accountability in India’s monetary policy-making. Recommendations: The Urjit Patel Committee first suggested forming a five-member MPC. The government later recommended a seven-member committee. Support: The Monetary Policy Department (MPD) of the RBI assists the MPC in policy development. The Financial Markets Operations Department (FMOD) implements the monetary policy through daily liquidity management operations. Formation Date: The MPC was officially established on June 27, 2016. 4 | DEFENCE, SECURITY & DISASTER MANAGEMENT 4.1. Defence News 4.1.1. Long Range Glide Bomb Why in News? 19 Recently, the Defence Research and Development Organisation (DRDO) has carried out a successful maiden flight test of Long Range Glide Bomb (LRGB), GAURAV from Su-30 MK-I platform of the Indian Air Force (IAF). About Long Range Glide Bomb: It is an air launched 1,000 kg class glide bomb capable of hitting targets at long distance. Features It is an Air to Surface LRGB with conventional warheads to destroy enemy air strips, bunkers, hard installations, buildings etc. It is designed to integrate with fighter aircrafts. It consists of an Inertial Navigation based guidance system with Digital Control. GAURAV has been designed and developed indigenously by the Research Centre Imarat (RCI), Hyderabad. After being launched, the glide bomb steers towards the target using a highly accurate hybrid navigation scheme with a combination of INS and GPS data. During the flight test, the glide bomb hit the target erected at Long Wheeler’s island with pinpoint accuracy. Complete flight data during the test launch was captured by Telemetry and Electro optical tracking systems deployed by Integrated Test Range along the coastline. 4.1.2. INS Arighat Why in News? India is now all set to commission its second nuclear-powered submarine, INS Arighat, armed with nu- clear missiles for strategic deterrence. About INS Arighat: It is India’s second indigenously built nuclear-powered ballistic missile submarine (SSBN),following India’s first nuclear submarine, INS Arihant, commissioned in 2018. It was constructed at the Indian Navy’s Ship Building Centre (SBC) in Visakhapatnam. It represents a critical component of India’s nuclear triad, enabling the nation to launch nuclear missiles from land, air, and sea. Features: It measures 111.6 meters in length, has a beam of 11 meters, a draught of 9.5 meters, and a displacement of 6,000 tonnes. It will have one seven-blade propeller powered by a pressurised water reactor. It can achieve a maximum speed of 12–15 knots (22–28 km/h) when on surface and 24 knots (44 km/h) when submerged. It can carry up to four nuclear-capable K-4 SLBMs (Submarine Launched ballistic Missile) with a range of over 3500 kilometers or twelve conventional warhead K-15 SLBMs with a range of about 750 kilometers. The K-15can also carry a strategic nuclear warhead. It also carries torpedoes and mines. Additional safety measures include two standby auxiliary engines and a retractable thruster for emergency power and mobility. 20 4.1.3. Man-Portable Anti-Tank Guided Missile (MP-ATGM). Test-Fire Success: Date: August 13, 2024 Location: Jaisalmer, Rajasthan Conducted by: Defence Research and Development Organisation (DRDO) Purpose: Successful test-firing of the indigenously-built MP-ATGM at a field firing range. System Overview: Type: Shoulder-launched, portable missile system Purpose: Designed to destroy enemy tanks and armoured vehicles Features: Day and night capabilities, top attack functionality, dual-mode seeker. Warhead Flight Trials: Date: April 13, 2024 Location: Pokhran Field Firing Range, Rajasthan Outcome: Demonstrated impressive missile and warhead performance. Technical Specifications: Length: Approximately 130 cm Diameter: 12 cm Total System Weight: 14.5 kg (Missile) + 14.25 kg (Command Launch Unit - CLU) Range: 200 to 300 metres (minimum), up to 4 km (maximum) Launch Method: Soft-launched from a canister using an ejection motor Capabilities: Advanced imaging infrared homing (IIR) sensor, integrated avionics, top attack mode, dual-mode seeker. Operational Capabilities: Target: Modern armour-protected Main Battle Tanks Features: Capable of day and night operations, top attack mode, tripod deployment, range of 2.5 km. Testing History: Initial Trials: September 2018 Guided Flight Trials: March 2019, successful demonstration of top attack mode at 2,500 metres 21 Tripod Launcher Test: September 2019, successful top attack on a dummy tank Minimum Range Validation: July 2021, tested at 200 to 300 metres in direct attack mode Final Configuration Test: January 2022, confirmed consistent performance at minimum range Subsequent Tests: Included a 2.5 km range flight test at NOAR in Kurnool (2023) and field evaluation tests at Pokhran (April 2024), including tandem warhead penetration and warhead flight trials. 4.2.Defence Exercises 4.2.1. IAF’s largest multilateral drill began in August Why in News? IAF all set to host the largest ever multilateral military exercise called “ TARANG SHAKTI” ABOUT TARANG SHAKTI AIM: To improve cooperation and teamwork among the participating countries through complex aerial drills and missions. It is an annual naval exercise by India to improve naval strength and security at sea It started in 2019 Exercise will take place in 2 phases PHASE 1 : Sulur, Tamil Nadu PHASE 2 : Jodhpur, Rajasthan Nearly 30 countries will participate out of the 51 invited TARANG SHAKTI will showcase India’s military equipment, including the LCA tejas and Rafale jets This aligns with India’s goal of ATMA NIRBHARTA in defense Germany will deploy fighter jets and also a A400M transport air 4.2.2. Maritime Partnership Exercise (MPX) INS Tabar, on departure from St. Petersburg, Russia successfully conducted a Maritime Partnership Ex- ercise (MPX) with the Russian Navy Ship Soobrazitelny on 30 July 2024. 22 4.2.3. Mitra Shakti The Indian Army and the Sri Lankan Army conducted the 10th edition of their joint exercise, “Mitra Shak- ti,” at Maduruoya in Sri Lanka’s Southern Province. This annual event is crucial for fostering cooperation and enhancing interoperability between the two nations’ armed forces. 4.2.4. Parvat Prahaar’ exercise Exercise focuses on high-altitude warfare near India-China border, Parvat Prahaar involves infantry, ar- moured, artillery, support units. Over 500 tanks, 50,000 troops deployed in Ladakh region since 2020 4.2.5. UDARA SHAKTI 2024 After successful participation in Exercise Udara Shakti 2024 at Malaysia, the Indian Air Force (IAF) con- tingent returned to India, on 10 Aug 24. The joint air exercise was conducted in collaboration with the Royal Malaysian Air Force (RMAF) from 05 to 09 August 2024 at Kuantan, Malaysia. The IAF participated with Su-30MKI fighter jets. 4.3. Disaster Management 4.3.1.Disaster management bill tabled in Lok sabha Why in News? Government introduced the disaster management bill 2024 in the Lok sabha ANALYSIS IMPORTANT POINTS OF THE BILL Seeks to amend the disaster management act 2005 23 Bill makes provision for the constitution of URBAN DISASTER MANAGEMENT AUTHORITY for state capitals and large cities having municipal corporations except the UT’s of delhi and chandigarh Bill empowers NDMA and state disaster management authorities to prepare the disaster plan at the national and state level Seeks to create a disaster database at national and state level Bill will grant statutory recognition to existing bodies like the national crisis management committee and the high level committee NEW SECTION 60A will be added to empower both the central and state governments to direct individuals to take necessary actions NDMA Apex statutory body for disaster management in India NDMA formally constituted : 27th September 2006 CHAIRPERSON : Prime Minister 5 | SCI - TECH & ENVIRONMENT 5.1 Sci & Tech 5.1.1. WHO declares mpox as public health emergency of international concern Why in News? WHO has declared mpox a PHEIC due to a significant increase in cases, particularly in the Democratic Republic of Congo (DRC) and neighboring African countries.Affected Regions: Detected in 10 African nations this year, with over 96% of cases in the DRC. New Strains: Emergence of a new virus strain, clade 1b, spreading mainly through sexual contact. Another clade (Ia) is also considered high risk, primarily affecting children. Risk Assessment: PHEIC Status: The highest level of alarm under International Health Regulations (IHR, 2005), indicating potential for the disease to spread beyond Africa. Global Emergency: This is the second global emergency declaration for mpox in two years. Disease Information: Causative Agent: Viral illness caused by the monkeypox virus, a member of the Orthopoxvirus genus. Clades: Two main clades – clade I and clade II. Symptoms: Common Symptoms: Skin rash or mucosal lesions lasting 2–4 weeks, accompanied by fever, headache, muscle aches, back pain, low energy, and swollen lymph nodes. Transmission: Modes: Can be transmitted through physical contact with an infected person, contaminated materials, or infected animals. Prevention: Avoid Contact: Prevented by avoiding physical contact with infected individuals. 24 Vaccination: JYNNEOS® vaccine can help protect those at risk. Treatment: Isolation: Affected individuals should be isolated. Antivirals: Treatments include antivirals like tecovirimat, with ongoing research for more options. 5.1.2. Google Faces Antitrust Complaints in the US and India Why in news? A US District Court has found Google guilty of monopolistic practices in search and text advertising, disrupting its longstanding dominance and is coinciding with India’s new digital competition law discus- sions. Key Points: Google has invested over USD 26 billion annually to maintain its default search engine status on devices, with a substantial market share of 89.2% in general search services and 94.9% on mobile. In India, the Alliance of Digital India Foundation (ADIF) has filed a complaint with the Competition Commission of India (CCI) claiming Google’s dominance hinders competition and negatively impacts Indian businesses. About ADIF: DIF is an industry body for India’s digital startups formed in 2020 to transform the Indian startup ecosystem into the top 3 globally by 2030. ADIF is concerned that Google’s Privacy Sandbox initiative, which removes third-party cookies from Chrome, could hinder non-Google Demand Side Platforms’ effectiveness in digital advertising. The development comes as India discusses a digital competition law, which could lead to increased compliance by large tech companies. It also comes amid antitrust scrutiny into Google by the CCI, after fining it in 2022 for “abusing its market dominant position” in Android-related categories. Also: India is proposing the Digital Competition Bill, 2024, which aims to curb anti-competitive practices by setting presumptive norms and imposing heavy penalties. 5.2. Space 5.2.1. Indian Institute of Astrophysics researchers discover ‘vampire star’ that feeds off its companion star Why in the News? Researchers have made a groundbreaking discovery of a vampire star in the star cluster M67 located in the constellation Cancer,that has been rejuvenating its youth by sucking up material from a companion. About Vampire Stars: These are known to astronomers as blue straggler stars (BSS), and are identified easily in star clusters. These stars, found in clusters, appear younger than their neighbours, defying simple models of stellar evolution. 25 The mystery behind their youthful appearance has long puzzled astronomers, with theories suggesting they might be consuming material from companion stars. They are also known as Symbiotic Binaries because they are normally in pairs. The Vampire star will start as the smaller star but, nearing the end of the sucking process will inevitably be the larger of the two. The sucking star, when it has consumed a large amount from its victim, will become a blue star, also known as a blue straggler. Highlights of the research The scientists studied the surface composition of the vampire star in M67, called WOCS 9005, an open cluster in the constellation Cancer. They discovered that WOCS 9005’s atmosphere is unusually rich in heavy elements such as barium, yttrium, and lanthanum. These elements are typically associated with much older, more massive stars in their final stages of life. This star is expected to show chemistry very similar to our Sun, but they found that its atmosphere is rich in heavy elements. This chemical anomaly pointed to a fascinating possibility: WOCS 9005 had been “polluted” by material from a companion star. Using AstroSat’s Ultraviolet Imaging Telescope (UVIT), they detected significant ultraviolet emissions from WOCS 9005. The blue straggler star that we see now must have eaten up most of this barium-rich material due to its gravitational pull, and is now presenting itself as a rejuvenated star. 5.2.2. Completion of SSLV Development Project Why in News? The Indian Space Research Organisation (ISRO) successfully launched the third and final developmental flight of the Small Satellite Launch Vehicle (SSLV) from the Satish Dhawan Space Centre in Srihariko- ta. The SSLV-D3 placed the Earth observation satellite EOS-08 precisely into orbit. This also marks the completion of ISRO/Department of Space’s SSLV Development Project.NewSpace India Limited (NSIL), ISRO’s commercial arm, and India’s private space industry can now produce SSLVs for commercial mis- sions. What is a Small Satellite Launch Vehicle (SSLV)? SSLV is the new small satellite launch vehicle developed by ISRO to cater for the launch of small satellites. 26 It has a three-stage launch vehicle, having a lift-off weight of about 120 tonnes and is 34 metres in length and 2 metres in diameter. It is a 3 stage Launch Vehicle configured with three Solid Propulsion Stages and liquid propulsion- based Velocity Trimming Module (VTM) as a terminal stage. VTM is the last liquid-propellent based stage of the rocket which is used to correct the velocity just before injecting the satellites into orbit. Uses The SSLV missions are useful to launch small-sized satellites weighing anywhere between 10 to 500kg into the Low Earth Orbit. Going by their size and weight, these are typically referred to as mini, micro or nano satellites. They are low on cost and intended satellite insertion into orbits takes a shorter flight time. SSLV are best suited for commercial and on-demand launches. Previously, satellite projects built by college students and private players involved in the space sector have benefitted from SSLV missions. India’s journey towards SSLV The first SSLV mission — SSLV-D1 — carrying two satellites, including EOS-02 and AzaadiSat, in August 2022, was a failure. The insertion of the two satellites after their separation took place into a 356 km circular orbit instead of the intended elliptical orbit. In its second attempt with the SSLV-D2 in February 2023, ISRO tasted success. The rocket inserted three satellites onboard into the intended 450 km circular orbit following a 15-minute flight. SSLV-D3 has been launched recently. Significance Seamless launch of small satellites The launch of small satellites has until now been dependent on ‘piggy-back’ rides with big satellite launches on ISRO’s PSLV. Against this backdrop, the SSLV is intended to cater to a market for the launch of small satellites into low earth orbits. Suited for launching multiple microsatellites SSLV is perfectly suited for launching multiple microsatellites at a time and supports multiple orbital drop-offs. The new launch vehicle has been designed keeping in mind commercial launches of small satellites with a quick turn-around time for the missions. Shift the burden from PSLV SSLV will shift the burden of commercial launches from Polar Satellite Launch Vehicles (PSLV). The SSLV is likely to cost a fourth of the current PSLV. 5.3. Environment 5.3.1. Centre reissues draft Western Ghats notification for the 6th time Why in the News? 27 The Union government re-issued a draft notification declaring parts of the Western Ghats as ecologically sensitive areas (ESAs) after a landslide in Wayanad, Kerala. This is the sixth time the notification has been issued in a decade. HIghlights: Draft Notification Details: Imposes restrictions on economic activities like quarrying, mining, and large infrastructural development in ESAs. The latest draft was issued on July 31 and made public on August 2, 2024, open for public comments for 60 days. The draft has not become law due to objections from six affected States: Gujarat, Maharashtra, Goa, Karnataka, Kerala, and Tamil Nadu. State Concerns: Kerala opposes the notification, fearing it would impact agricultural plantations, hydro-electricity plans, and cause a migration crisis. Other States have also raised objections to specific areas included in the ESA regions. ESA History and Committees: The first draft was issued in March 2014, based on the Madhav Gadgil committee’s recommendation to declare the entire Western Ghats (1,29,000 sq km) as an ESA. The Gadgil panel proposed three broad zones (ESA 1, ESA 2, ESA 3) with varying restrictions on economic activity. Due to resistance from States, the Kasturirangan committee halved the protected area and allowed States to draw up their own ESAs. Current ESA Area: The total ESA area across all six States amounts to 56,825 sq km. Breakdown: Kerala (9,993 sq km), Karnataka (20,668 sq km), Tamil Nadu (6,914 sq km), Maharashtra (17,340 sq km), Goa (1,461 sq km), and Gujarat (449 sq km). Ongoing Review: A committee, constituted in 2022, is examining State concerns and discrepancies in the draft notification. The committee aims to balance conservation needs with the rights and developmental aspirations of the region. Implications of Final ESA Notification: A complete ban on mining, quarrying, and sand mining in ESAs. Existing mines to be phased out within five years. Prohibition of new thermal power projects and expansion of existing plants. Prohibition of new ‘Red category’ industries, as listed by the Central Pollution Control Board. Restriction on new and expansion projects of building and construction exceeding 20,000 sq meters and townships exceeding 50 hectares or 1,50,000 sq meters. 28 Certain hydropower projects are allowed under conditions, with a monitoring mechanism for economic activities in the region. (Note: The Kerala government has also requested the Centre to declare the catastrophic landslide that devastated at least three villages in Vythiri taluk in the Wayanad district on July 30 a national disaster) 5.3.2. Chhattisgarh approves country’s third largest tiger reserve Why in the News? Chhattisgarh cleared a proposal to establish a new tiger reserve, the third largest in the country, due to the recent plunge in its tiger population. The Guru Ghasidas-Tamor Pingla Tiger Reserve is Chhattisgarh’s fourth tiger reserve.It will integrate the Guru Ghasidas National Park and Tamor Pingla Sanctuary. It will be spread across the districts of Manendragarh-Chirmiri-Bharatpur, Koriya, Surajpur, and Balrampur. Current Tiger Reserves in Chhattisgarh: Chhattisgarh currently has three tiger reserves: Achanakmar Ti- ger Reserve in Mungeli district,Indravati Tiger Reserve in Bijapur district, Udanti-Sitanadi Tiger Reserve in Gariaband district. Tiger Reserves in India: Definition: Tiger Reserves are protected areas designated for the conservation of tigers. They can also be national parks or wildlife sanctuaries. Project Tiger: A wildlife conservation movement initiated in India to protect endangered tigers. Launched in 1973 by the Ministry of Environment, Forest and Climate Change, Government of India. Current Status: As of March 2024, there are 55 designated tiger reserves in India. Administration: Tiger Reserves are part of Project Tiger and are administered by the National Tiger Conservation Authority (NTCA) of the Government of India. Notification Process: Tiger Reserves are notified by State Governments under Section 38V of the Wildlife (Protection) Act, 1972, based on the advice of the NTCA. Zoning in Tiger Reserves: Core Zone: The central area with strict restrictions on human activities, allowing tigers to thrive without disturbance. Buffer Zone: Surrounds the core zone, permitting limited human activities, providing a degree of protection to the core area. 29 5.3.3. New Ramsar Sites Why in News? The centre declared the Nanjarayan Bird Sanctuary and Kazhuveli Bird Sanctuary in Tamil Nadu and Tawa Reservoir in Madhya Pradesh as three new wetlands as Ramsar Sites. With these inclusions, India has increased its tally of Ramsar sites to 85. Now, Tamil Nadu harbours a maximum number of Ramsar Sites (18 sites) followed by Uttar Pradesh (10 sites). What is the Ramsar Convention? The Ramsar Convention is an international treaty signed in 1971 in Ramsar, Iran, under the auspices of UNESCO, aimed at conserving wetlands of international importance. In India, it came into force on 1st February 1982, under which wetlands of international importance are declared as Ramsar sites. Montreux Record is a register of wetland sites of International Importance where changes in ecological character have occurred, are occurring, or are likely to occur as a result of technological developments, pollution or other human interference. 5.3.4. Gross Environment Product Index Why in News? Uttarakhand has become the first Indian state to launch a Gross Environment Product Index. Key Points The Himalayan Environmental Studies and Conservation Organisation is the creator of the Gross Environment Product Index. There are four pillars of the Gross Environment Product Index: air, soil, tree and water. The formula is, GEP index = (Air-GEP index + Water-GEP index + Soil-GEP index + Forest-GEP index). Significance: It helps in assessing the impact of anthropological pressure on our ecosystem and natural resources. It provides a robust and integrated method for assessing a state’s ecological growth, capturing various facets of environmental well-being as a result of human actions. Recommendation: Activities should be prohibited; regulated and promoted. Regulated activities should be allowed only as per carrying capacity and environmental impact assessment. 30 6 | PERSON IN NEWS 6.1. Appointment 6.1.1. Former Union Health Secretary Preeti Sudan was appointed chairperson of the Union Public Ser- vice Commission (UPSC) after Manoj Soni resigned from the post earlier this month, according to an of- ficial order. She would take the oath of office on Au- gust 1.Ms. Sudan, currently a member of the UPSC, will take charge on August 1 and will have a tenure till April 29, 2025 or till further orders. She will turn 65 in April next year. Preeti Sudan 6.1.2. Former Maharashtra Assembly Speaker and veteran Rashtriya Swayamsevak Sangh leader Haribhau Kisanrao Bagde was sworn in as the Gov- ernor of Rajasthan here on July 31. Rajasthan High Court’s Chief Justice Manindra Mohan Shrivastava administered the oath of office to Mr. Bagde at a cer- emony held on the lawns of Raj Bhavan. Haribhau Kisanrao Bagde 6.1.3. The newly constituted European Commis- sion (EC), the executive arm of the European Union, elected Ursula von der Leyen, the EC’s first female President, for a second term. Ursula von der Leyen 6.1.4. Interim government headed by Muhammad Yunus took oath on August 8 Muhammad Yunus 31 6.2. Obituary 6.2.1. Former Chief of Army Staff (COAS) General S. Padmanabhan passed away at his residence in Chennai on Sunday. The funeral is scheduled for Tuesday. General Padmanabhan, who was the COAS between September 2000 and December 2002 S. Padmanabhan 7 | AWARDS 7.1.1. President Droupadi Murmu has been awarded the Companion of the Order of Fiji, the highest ci- vilian honour from Fiji recognising the strong India-Fiji ties 7.1.2. The Indian government announced the first-ever Rashtriya Vigyan Puraskar (RVP) awardees 2024. The awards will be presented on 23rd August, first National Space Day, celebrating the milestone of Chandrayaan-3’s moon landing. RVP is a prestigious set of awards that recognize and encourage sig- nificant achievements by scientists, technologists, and innovators of Indian origin, including Persons of Indian Origin (PIO), whether working in India or abroad. These awards honour individuals who have made distinguished contributions through impactful research, innovation, or discovery that benefits In- dian communities or society. The RVP is being introduced for the first time in 2024. It was established to replace the existing science awards, including the Shanti Swarup Bhatnagar Prize. Named after Shanti Swarup Bhatnagar, the founder and director of the CSIR. Thirty-three of these awards are slated to be given on August 23, the National Space Day to mark Chandrayaan 3’s moon landing 7.1.3. President Smt Droupadi Murmu has approved 103 Gallantry awards to Armed Forces and Central Armed Police Forces personnel on the eve of Independence Day 2024. These are: four Kirti Chakras including three posthumous; 18 Shaurya Chakras including four posthumous; one Bar to Sena Medal (Gallantry); 63 Sena Medals (Gallantry) including two posthumous; 11 Nao Sena Medal (Gallantry); and six Vayu Sena Medals (Gallantry). The President has also approved 39 Mention-in-Despatches, including to Army Dog Kent (posthumous) for their significant contributions in different military operations. The operations include Operation Rakshak, Operation Snow Leopard, Operation Sahayata, Operation Hifazat, Operation Orchid and Operation Katchal. 8 | REPORTS & INDEXES 8.1. State top performer in SDG india index 2023-2024 ABOUT - India’s apex public policy think-tank, NITI Aayog, released its latest Sustainable Development Goal (SDG) Index in July - The SDG India Index 2023-24 evaluates the progress of all states and union territories on 113 indicators aligned with the Ministry of Statistics and Programme Implementation’s (MoSPI) 32 National Indicator Framework (NIF). - India’s national score will reach 71 in 2023-24, up from 66 in 2020-21 and 60 in 2019-20, showing significant progress in areas like poverty eradication, decent work, economic growth, climate action, and life on land. - According to BVR Subrahmanyam, CEO of NITI Aayog, in addition to making significant progress on all 16 SDG parameters, India is also ahead of schedule in reaching several of the goals, with some predicted to be accomplished before 2030. Key Points: The SDG India Index was first released in 2018. According to NITI Aayog’s fourth edition, the SDG India Index 2023-24, significant progress has been noted in Goal 1 (No Poverty), Goal 8 (Decent Work and Economic Growth), Goal 13 (Climate Action), and Goal 15 (Life on Land). The largest increase in score was observed in Climate Action, which rose from 54 in 2020-21 to 67 in 2023-24. State-wise performance - According to the index, Indian states such as Uttarakhand, Kerala, Tamil Nadu, Goa, and Himachal Pradesh were the highest-scoring states, while Bihar, Jharkhand, Nagaland, Meghalaya, and Arunachal Pradesh lagged. 8.2 World Development Report 2024 Why in News? A recent World Bank report titled “World Development Report 2024: The Middle Income Trap” has high- lighted significant challenges faced by over 100 countries, including India, in achieving high-income sta- tus in the coming decades. Highlights Middle Income Trap: India is among 100 countries, including China, at risk of falling into the “middle income trap,” where countries struggle to transition from middle-income to high-income status. India is at a crucial juncture, benefiting from favorable demographics and advancements in digitalization, but faces a tougher external environment compared to the past. India’s aim to become a developed nation by 2047 requires a comprehensive approach that enhances overall economic performance, rather than focusing on isolated sectors. The report notes that only 34 middle-income economies have transitioned to high-income status since 1990, often due to special circumstances like European Union integration or oil reserves. Middle-income countries face challenges in sustaining economic growth due to diminishing returns on physical capital. While low-income countries benefit from building physical capital and improving basic education like India in the 1980s, where capital deepening was crucial, middle-income countries encounter diminishing returns as they invest further. Simply increasing saving and investment rates to meet growth targets isn’t sufficient; these countries also need to address factors beyond physical capital. 33 Despite having relatively high capital endowments, middle-income economies struggle with productivity issues, highlighting that physical capital alone isn’t the main barrier to further growth. The World Bank criticizes many middle-income countries for using outdated economic strategies focused mainly on expanding investment. Global Economic Impact: Middle-income countries are home to six billion people, representing 75% of the global population, and generate over 40% of global Gross Domestic Product (GDP). The success or failure of these countries in achieving high-income status will significantly impact global economic prosperity. Per Capita Income Disparity: India is identified as the fastest growing major economy, but it would take 75 years for its per capita income to reach a quarter of the US income levels if current trends continue. China would take over 10 years, Indonesia nearly 70 years, and India 75 years to reach a quarter of US income per capita. Challenges and Risks: Middle-income countries face significant obstacles, including ageing populations, rising debt, geopolitical and trade frictions, and environmental concerns. These countries are at risk of not achieving reasonably prosperous societies by the middle of the century if they continue with current trends. Strategic Recommendations: 3i Strategy: Report recommended a three-phase approach for countries to reach high-income status: 1i Phase: Focus on investment for low-income countries. 2i Phase: Investment and infusion of foreign technologies for lower-middle-income countries. 3i Phase: Investment, infusion, and innovation for upper-middle-income countries. The report highlighted South Korea as an example, starting with a per capita income of USD 1,200 in 1960, South Korea reached USD 33,000 by 2023 by sequentially adopting the 3i strategy. Policy Recommendations: India’s aim to become a developed nation requires a comprehensive approach that enhances overall economic performance, rather than focusing on isolated sectors. Focus on horizontal policies rather than vertical debates (e.g., manufacturing vs. services). Emphasize improving education and skills to enable better absorption of technology and innovation. Strengthen connections between universities and industries to enhance knowledge transfer. India shows potential in technology preparedness, with a good track record in digitalization. However, there is a need for greater dynamism in firms to absorb and utilize these technologies effectively. The report highlights the prevalence of microenterprises in India, suggesting that barriers exist for productive firms to grow due to policies favoring smaller firms. 34 8.3. NIRF Rankings 2024 Why in News? The National Institutional Ranking Framework (NIRF) rankings 2024, announced by the Union Ministry of Education (MoE), has once again highlighted the leading institutions in India’s higher education land- scape. Key Highlights of NIRF 2024: 1. Top Institutions: IIT Madras: Top in ‘Overall’ and ‘Engineering’ categories for six and nine consecutive years, respectively. Second in ‘Research Institutions’ and ‘Innovations’ categories. IISc Bengaluru: Top in ‘Universities’ and ‘Research Institutions’ for the ninth and fourth consecutive years. IIM Ahmedabad: Top in ‘Management’ for the fifth consecutive year. AIIMS New Delhi: Leading in ‘Medical’ for seven consecutive years. Ranked 7th in ‘Overall’. 2. Category Leaders: Jamia Hamdard: Top in ‘Pharmacy’. IIT Roorkee: Leading in ‘Architecture and Planning’. 3. Delhi University (DU): Jumped from 11th to 6th place in overall rankings. Hindu College secured the top position among colleges for the first time. St. Stephen’s College ranked third. 4. New Additions to NIRF 2024: New Categories: State Public Universities, Open Universities, and Skill Universities. Integrated ‘Innovation’ ranking, expanding to 16 categories. Top New Categories: Anna University: Top in State Public Universities. IGNOU: Top in Open Universities. Symbiosis Skill and Professional University (SSPU), Pune: Top in Skill Universities. Future Plans: Introduction of a Sustainability Rankings category in NIRF 2025. 5. Increased Participation: Unique institutions: Increased from 2,426 in 2016 to 6,517 in 2024. Significant rise in the total number of applications, indicating growing engagement and recognition. 35 8.4. Multidimensional Vulnerability Index (MVI) Why in News? The UN General Assembly officially launched a new data-driven “vulnerability” index that would help small island states and developing nations gain access to low-interest financing. Since the 1990s, SIDS that don’t qualify for low-interest development loans due to their relatively higher GDP per capita have been advocating for a measure that accounts for their vulnerability to external shocks like climate change. About: Purpose: A new international benchmark to assess structural vulnerability and resilience across multiple dimensions of sustainable development at the national level. Complement: Used alongside Gross National Income (GNI) per capita to provide a more comprehensive measure of development. Need for MVI: Current Limitations: GNI per capita is an insufficient indicator of development and well-being, particularly for countries prone to external shocks. Access to Concessional Financing: Countries often struggle with accessing affordable development support due to eligibility being based on income thresholds rather than vulnerability. Inclusive Aid Allocation: MVI could improve the allocation of development aid and identify nations needing international assistance more effectively. 9 | SPORTS 9.1. India at Paris Olympics 2024 Why in News? The Paris Olympics 2024 have concluded with India finishing 71st in the medal tally, a decline from its 48th place in Tokyo 2020. Despite winning six medals, including one silver and five bronze, the nation experienced several near misses and disheartening outcomes that have sparked discussions about the future of Indian sports. Sreejesh and Bhaker to Co-Flag Bear for India at Paris 2024 Closing Ceremony What were the Higlights of India’s Performance at Paris Olympics 2024? Indian athletes Medal Event Manu Bhaker Bronze women 10m air pistol event Manu Bhaker and Sarabjot singh Bronze 10m air pistol mixed team event Swapnil Kusale Bronze men’s 50m rifle 3 positions Indian hockey team Bronze men’s hockey Neeraj Chopra Silver men’s javelin Throw Aman Sehrawat Bronze wrestling men’s 57kg freestyle event Key Points on India’s Olympic Achievements: Neeraj Chopra’s Achievement: Secured a silver medal in javelin with a throw of 89.45m. This was his second Olympic medal, making him India’s fifth two-time Olympic medallist. 36 Manu Bhaker’s Historic Feat: Became the first Indian woman to win an Olympic shooting medal. First athlete from independent India to win two medals in a single Games, achieving medals in both individual and mixed team events. Shooting Success: India won three shooting medals at the Olympics, the highest tally for the country in this sport. Swapnil Kusale achieved India’s first-ever Olympic medal in the 50m rifle 3 positions event. Sports Participation: Indian athletes competed in 69 medal events across 16 sports, including archery, athletics, badminton, boxing, equestrian, golf, hockey, judo, rowing, sailing, shooting, swimming, table tennis, and tennis. Badminton Milestone: Lakshya Sen became the first Indian to reach the semi-finals in men’s badminton at the Olympics, finishing fourth. Vinesh Phogat’s Incident: Wrestler Vinesh Phogat reached the final in the women’s 50 kg category but was disqualified for being overweight by 100 grams. Youngest Boxing Referee: Lieutenant Colonel Kabilan Sai Ashok, a serving Indian Army Officer, has become the youngest Olympic referee in boxing from India at the Paris Olympics 2024. India’s Olympic Medal History: India has won a total of 41 Olympic medals. Notable milestones include Norman Pritchard’s Silver Medals (1900 Paris), KD Jadhav’s Bronze (1952 Helsinki), Karnam Malleswari’s Bronze (2000 Sydney), Abhinav Bindra’s Gold (2008 Beijing), and Neeraj Chopra’s Gold (2020 Tokyo). Men’s Hockey has won 13 medals, including eight golds, and Wrestling has won eight medals. India’s best-ever Olympic performance was at Tokyo 2020, with seven medals, including one gold. India’s second-best performance was in the 2012 London Olympics, with six medals (two silver and four bronze). 9.2. The Board of Control for Cricket in India (BCCI) secretary Jay Shah is all set to replace the incumbent Greg Barclay as the new chairman of the International Cricket Council (ICC). 9.3. Neeraj Chopra at the Lausanne Diamond League, securing his second-best javelin throw ever with a season-best distance of 89.49 meters on his final attempt. He was second behind Grenada’s Anderson Peters, who threw 90.61 meters. Germany’s Julian Weber completed the podium with a throw of 87.08 meters. 9.4. 14-year-old Tanvi Patri from Odisha, India, has etched her name in the annals of badminton history. Patri clinched the women’s singles title at the prestigious Asian U-15 Junior Championships 2024, held in Chengdu, People’s Republic of China 9.5. The ICC has announced the relocation of the Women’s T20 World Cup 2024 from Bangladesh to the United Arab Emirates (UAE). The event, originally set to be hosted in Bangladesh, will now take place from October 3 to 20 in Dubai and Sharjah. 37 9.6. The first-ever Global Women’s Kabaddi League will commence next month (September) in Haryana. Officially named the Global Pravasi Women’s Kabaddi League (GPKL), this groundbreaking tournament will feature female athletes from over 15 countries. 9.7. Novak Djokovic of Serbia secured his first Olympic gold medal at the Paris 2024 Olympics. The 37-year-old tennis legend overcame Spain’s Carlos Alcaraz in a gripping men’s singles final at Roland Garros on Sunday, cementing his status in the annals of tennis history. 9.8. Sri Lanka secured their first Women’s Asia Cup title win, beating India with a clinical run-chase in front of home fans. 10 | IMPORTANT DAYS & THEMES 10.1. Some important Days Date Important Days Theme 06th August 2024 Hiroshima Day Together with the Hibakusha, let us achieve a nuclear weapon-free, peaceful, and just world — for the future of humankind and our planet”. 07th August 2024 National Handloom Day “Weaving Sustainable Futures” 09th August 2024 International Day of World’s Protecting the Rights of Indigenous Peoples in Indigenous People Voluntary Isolation and Initial Contact'. 09th August 2024 Nagasaki Day Together with the Hibakusha, let us achieve a nuclear weapon-free, peaceful, and just world— for the future of humankind and our planet 10th August 2024 World Biofuel Day “Sustainable Biofuels: Fueling a Greener Future. 12th August 2024 International Youth Day "From Clicks to Progress: Youth Digital Pathways for Sustainable Development," 12th August 2024 World Elephant Day Personifying prehistoric beauty, theological rele- vance, and environmental importance.” 14th August 2024 Partition Horrors Remem- brance Day in India 15th August 2024 Independence Day of India 19th August 2024 World Humanitarian Day #ActForHumanity 23rd August 2024 National Space day Touching Lives while Touching the Moon: India’s Space Saga. 23rd August 2024 ISRO Day 23rd August 2024 International Day for the -------------- Remembrance of the Slave Trade and its Abolition 26th August 2024 Women’s Equality Day Thank the Women in your life 29th August 2024 National Sports Day Sport for the Promotion of Peaceful and Inclu- sive Societies 38 29th August 2024 International Day Against Nuclear Tests 30th August 2024 National Small Industry Day 10.2. KARGIL DIWAS WHY IN NEWS ? The year 2024 marks the 25th anniversary of Kargil Vijay Diwas. ABOUT KARGIL WAR War came to an end on 26 July, 1999, with India’s victory. Took place in the Kargil district of J&K Lasted for about 3 months. Fought between India and Pakistan at the Line of Control in the Kargil District Indian army fought bravely and recaptured the famous TIGER HILL First ever war to be broadcasted live on TV Last war that happened between India and Pakistan Indian side used the Bofors FH- 77B for the first time Indian air force named the war of kargil as OPERATION SFAED SAGAR To commemorate the silver jubilee of victory in 1999 kargil war , IAF is celebrating kargil vijay diwas rajat jayanti at air force station in sarwasa AIR SHOW by akash ganga team and aerial displays by jaguar , SU-30 MKI and Rafale fighter aircraft Missing man formation - flown by Mi-17 V5 INDIAN ARMY names the war of Kargil as OPERATION VIJAY Motorcycle expedition from three corners of the country to honour the 25th anniversary DINJAN in EAST DWARKA in WEST DHANUSHKODI in SOUTH OPERATION BADR : Pakistan moved troops into Indian territory covertly and took over a portion of Kargil. The Indian Army utilized heavy artillery, air power, and major infantry operations. Employed Bofors FH-77B howitzers to shoot down enemy positions. Received support from Israel’s Unmanned Aerial Vehicles (UAVs) during the conflict OPERATION TALWAR Carried out by the Indian Navy during the Kargil War of 1999 with the aim to choke Pakistani trade channels. MISCELLANEOUS Kargil review Committee was set up by the Government of India in July 1999 - AIM: to examine the sequence of events and make recommendations for the future INDIAN AIR FORCE CHIEF in 1999 - Chief marshal Anil Yashwant Tipnis INDIAN NAVY CHIEF in 1999 - Admiral Sushil Kumar INDIAN ARMY CHIEF in 1999 - Gneral Ved Prakash Malik 39 10.3. Article 370 abrogation anniversary Why in the News? Fifth anniversary of the revocation of Article 370, which granted special status to Jammu and Kashmir, was observed. On 5th August 2019, the Government of India revoked Article 370. What was Article 370? Article 370 of the Indian constitution granted special status to Jammu and Kashmir. It was drafted by N Gopalaswami Ayyangar, a member of the Constituent Assembly of India and was added as a ‘temporary provision’ in 1949. This article allowed Jammu and Kashmir to have its constitution, flag, and autonomy over most matters except defence, foreign affairs, and communications. The provision was based on the terms of the Instrument of Accession, which was signed by the ruler of Jammu and Kashmir, Hari Singh, in 1947 following an invasion by Pakistan. Repeal of Article 370: Presidential Order: In the 2019 Presidential orders, Parliament redefined the “constituent assembly of Jammu and Kashmir” to mean the “Legislative Assembly of Jammu and Kashmir.” By invoking the President’s rule, Parliament then assumed the powers of the Legislative Assembly to revoke Article 370. Resolutions in Parliament: On 5th and 6th August 2019, concurrent resolutions were passed by both houses of Parliament, the Lok Sabha and the Rajya Sabha, respectively. Jammu and Kashmir Reorganisation Act, 2019: It was passed by Parliament in 2019 to bifurcate the state of Jammu and Kashmir into two Union Territories of Jammu and Kashmir and Ladakh. It divided Jammu and Kashmir into 2 Union Territories of Jammu and Kashmir and Ladakh. Leh and Kargil districts were included in the Union Territory of Ladakh, while the remaining areas became part of Jammu and Kashmir. Five Lok Sabha seats were retained by Jammu and Kashmir, and one was transferred to Ladakh. The seats in the Legislative Assembly will be reserved for tribal and scheduled caste people to keep the proportion intact of their population in the Union Territory of Jammu and Kashmir. The Lt. Governors can nominate two women members for the Assembly to represent women if women are not sufficiently represented to justify equality between men and women. The elected Legislative Assembly will be for 5 years, and the Lt. The Governor will summon the Assembly once every six months. 10.4. 82nd Anniversary of the QIM Why in the News? August Kranti Day (August Revolution Day) is observed on the 8th August annually in India. It commem- orates the historic launch of the QIM in 1942, under the leadership of Mahatma Gandhi. Reasons for Starting QIM: Failure of Cripps Mission (1942): Cripps Mission exposed Britain’s unchanged attitude on constitution- al advance and made it clear that any more silence would be tantamount to accepting the British right to decide the fate of Indians without consulting them. Quit India Resolution: 40 The Congress Working Committee adopted the ‘Quit India’ Resolution on 14th July 1942 at Wardha. The All India Congress Committee (AICC) accepted this resolution with some modifications, on 8thAu- gust 1942 at Gowalia Tank in Bombay and Gandhiji was named the leader of the struggle. On this occasion, Gandhi delivered his famous “Do or Die” speech, arguing that “We shall either free India or die in the attempt; we shall not live to see the perpetuation of our slavery.” 10.5. 78th Independence Day Address Why in news? In his 78th Independence Day speech, Prime Minister Shri Narendra Modi outlined a series of futuristic goals aimed at shaping India’s growth, driving innovation, and positioning the country as a global leader across various sectors. Key points from the Prime Minister’s address include: 1. Ease of Living Mission: PM Modi outlined his vision to fulfil ‘Ease of Living’ on a mission mode. He spoke of enhancing the quality of life in urban areas through systematic assessments and improvements in infrastructure and services. 2. Revival of Nalanda Spirit: The Prime Minister sought to revive the ancient Nalanda University spirit, positioning India as a global education hub by promoting higher learning and research. This builds on the inauguration of Nalanda University in 2024. 3. Made in India Chip-Semiconductor Production: PM Modi outlined India’s commitment to becoming a global leader in semiconductor production, aiming to reduce dependency on imports and enhance technological self-sufficiency. 4. Skill India: Referring to the Budget 2024, the Prime Minister highlighted landmark initiatives announced by the government to train India’s youth and become the skill capital of the world. 5. Hub of Industrial Manufacturing: PM Modi envisioned transforming India into a global manufacturing hub, leveraging its vast resources and skilled workforce. 6. “Design in India, Design for the World”: The Prime Minister exalted indigenous design capabilities and urged to create products that cater to both domestic and international markets, coining this phrase. 7. Leader in Global Gaming Market: PM Modi said that India must leverage its rich ancient legacy and literature to come up with Made in India gaming products. He added that Indian professionals must lead the global gaming market, not just in playing but also in producing games, stating that Indian games should make their mark worldwide. 8. Green Jobs and Green Hydrogen Mission: PM Modi emphasized the importance of green jobs in India’s efforts to combat climate change. He stated that the focus of the country is now on green growth and green jobs, which will generate employment opportunities while contributing to environmental protection. The Prime Minister reiterated India’s commitment to becoming a global leader in green hydrogen production and creating sustainable employment opportunities in environmental conservation and renewable energy sectors. 9. Swasth Bharat Mission: PM said that to achieve the goal of Viksit Bharat 2047, India must tread the path ‘Swasth Bharat’ which has begun with the launch of Rashtriya Poshan Abhiyan. 10. State-level Investment Competition: The Prime Minister called for state governments to establish clear policies to attract investments, offer assurances of good governance, and ensure confidence in the law and order situation. 41 11. Indian Standards as Global Benchmarks: PM Modi spoke on India’s aspiration to be recognized for its commitment to quality, stating that Indian standards should aspire to become international benchmarks. 12. Climate Change Targets: The Prime Minister reiterated India’s ambitious goal of achieving 500 gigawatts of renewable energy capacity by 2030. He noted that India has been the only country among the G20 nations to meet its Paris Accord goals. 13. Medical Education Expansion: PM Modi announced plans to add 75,000 new medical seats in the next 5 years, aiming to enhance the country’s medical education capacity and address the growing demand for healthcare professionals. 14. Inducting Fresh Blood in Politics: PM Modi gave a call to bring 1 lakh youth into the political system, specifically those with no history of politics in their families. The Prime Minister said this initiative was aimed at fighting the evils of nepotism and casteism and inducting fresh blood into India’s polity. 42 CURRENT AFFAIRS EXERCISE I. The government-backed bad bank, National Asset Reconstruction Company Ltd (NARCL), aims to take over ₹2 trillion worth of banks’ stressed or non-performing assets (NPAs) by FY26 after having achieved the ₹1-trillion mark in FY24, a senior finance ministry official told Mint. As of July 2024, NARCL had acquired 18 accounts with outstanding loans of ₹62,000 crore, while resolution plans have been approved for two accounts worth almost ₹33,000 crore, said Vivek Joshi, secretary of the finance ministry’s department of financial services. Bad banks are asset reconstruction companies that buy bad loans from commercial banks, manage them, sell them in the market and recover the money to liquidate the transferred assets. “The Swiss challenge process is completed for an account worth ₹591 crore, and the process (the Swiss challenge) has been initiated for six accounts worth about ₹30,000 crore,” Joshi said. “Due diligence is underway for 13 accounts worth about ₹36,000 crore,” he added. The Swiss Challenge method allows private players and state-backed companies to accept contracts from the government through the process of bidding. Under this process, auctioneers invite counter-bids, following a bid, to select the best one. The original bidder has the right of first refusal to match the best counterproposal. The method is used by many states like Karnataka, Andhra Pradesh, Rajasthan, Madhya Pradesh, Bihar, Punjab and Gujarat for roads and housing projects. The plan to form a bad bank to clean up banks’ balance sheets was announced in the Union budget 2021-22 for taking up large loans of over ₹500 crore. 1. What is the primary purpose of a “bad bank”? a) To create new loans for banks b) To manage and recover bad loans and NPAs c) To provide financial aid to small businesses d) To manage foreign exchange reserves 43 2. When was India’s first bad bank, the National Asset Reconstruction Company Ltd (NARCL), established? a) 2016 b) 2008 c) 2021 d) 198

August 2024 Get.Set.Law Monthly Magazine PDF

Document Details

Tags

Related

Summary

Full Transcript

Upgrade to continue