June Month Current Affairs PDF

June Month Current Affairs  53rd GST Council Meeting Key Highlights of 53rd GST Council Meeting  Aadhaar-based Biometric Authentication: Rollout of Biometric-based Aadhaar Authentication on a National Level to combat Fraudulent Input Tax C...

June Month Current Affairs  53rd GST Council Meeting Key Highlights of 53rd GST Council Meeting  Aadhaar-based Biometric Authentication: Rollout of Biometric-based Aadhaar Authentication on a National Level to combat Fraudulent Input Tax Credit Claims made through Fake Invoices. o This is aimed at enhancing Tax Compliance.  Exemption for Hostel Accommodation: Hostel Accommodation Services Outside Educational Institutions are exempt from GST for Rents up to Rs 20,000 per person per month. o This exemption applies only for stays up to 90 days, whereas previously such rents incurred 12% GST.  Indian Railways Services: GST Exemption on Platform Tickets.  Reduction in GST Rate on Cartons: Reduced from 18% to 12%.  GST Reduction on Milk Cans and Solar Cookers: Uniform GST Rate of 12% was announced for All Milk Cans.  New Monetary Limits for Filing Appeals: Rs 20 Lakh for GST Appellate Tribunal, Rs 1 Crore for High Court and Rs 2 Crore for Supreme Court.  Good and Services Tax  Introduced by 101st Constitutional Amendment Act.  Value – Added Tax levied on Most Goods and Services sold for Domestic Consumption o Paid by Consumers, but remitted to Government by Businesses Selling Goods and Services.  It is a Dual GST with Centre and States simultaneously levying Tax on a Common Base. o GST to be levied by Centre is called Central GST (CGST) and that to be levied by States is called State GST (SGST). o Import of Goods or Services would be treated as Inter-State Supplies and would be subject to Integrated Goods & Services Tax (IGST) in addition to Applicable Customs Duties. o CGST, SGST & IGST are levied at rates to be mutually agreed upon by Centre and States.  Rates are notified on recommendation of GST Council. o GST was levied at 4 Rates viz. 5%, 12%, 18% and 28%.  GST Council  Type: Constitutional Body (Article 279A)  Chairperson: Union Finance Minister  Vice – Chairperson will be from amongst State Representatives and will be rotated.  Member: Union Minister of State in-charge of Revenue or Finance, Minister-in-charge of Finance or Taxation or Any Other Minister (Nominated by Each State Government)  Chairperson of Central Board of Excise and Customs (CBEC) as a Permanent Invitee  Ex – Officio Secretary to GST Council: Secretary of Revenue Department  Quorum: At least 50% of Total Number of Members should be Present at the meeting.  Decision Making: Based on Majority of Not Less than 3/4th of Weighted Votes of Members Present and Voting at the meeting.  Voting Powers: Centre has 1/3rd of Total Votes, while Weightage of States’ is 2/3rd.  Recommendations of GST Council are Not Binding on either Union Government or States.  India’s External Debt Rising Key Highlights  India’s External Debt was US$ 663.8 Billion, an increase of US$ 39.7 Billion over its level at end- March 2023. o External Debt – to – GDP Ratio declined to 18.7% end-March 2024 from 19.0% at end-March 2023.  External Debt is Money Borrowed from a Source Outside the Country, which needs to be Repaid in Borrowed Currency.  It can be obtained from Foreign Commercial Banks, International Financial Institutions such as IMF and World Bank and from Foreign Governments.  Valuation Effect due to Appreciation of US Dollar vis-à-vis Indian Rupee and Other Major Currencies such as Yen, Euro and SDR amounted to US$ 8.7 Billion. o Excluding Valuation Effect, External Debt would have increased by US$ 48.4 Billion instead of US$ 39.7 Billion at end-March 2024 over end-March 2023.  Valuation Effects: Change in Value of Assets held Abroad with regard to Value of Domestic Assets held by Foreign Investors.  At end-March 2024, Long-Term Debt (Original Maturity of Above 1 Year) was placed at US$ 541.2 Billion, recording an increase of US$ 45.6 Billion over its level at end-March 2023. o Share of Short-Term Debt (Original Maturity of up to 1 Year) in Total External Debt declined to 18.5% at end-March 2024 from 20.6% at end-March 2023.  Ratio of Short-Term Debt to Foreign Exchange Reserves declined to 19.0% at end March 2024 (22.2% at end-March 2023). o US Dollar-denominated Debt remained Largest Component of India’s External Debt, with a share of 53.8% at end-March 2024, followed by Debt Denominated in Indian Rupee (31.5%), Yen (5.8%), SDR (5.4%) and Euro (2.8%).  Outstanding Debt of Both Government and Non-Government Sectors increased at end-March 2024. o Share of Outstanding Debt of Non-Financial Corporations in Total External Debt was Highest at 37.4%, followed by Deposit-taking Corporations (except Central Bank) (28.1%), General Government (22.4%) and Other Financial Corporations (7.3%).  Loans remained Largest Component of External Debt, with a share of 33.4%, followed by Currency and Deposits (23.3%), Trade Credit and Advances (17.9%) and Debt Securities (17.3%). o Debt Service (i.e., Principal Repayments and Interest Payments) increased to 6.7% of Current Receipts at end-March 2024 from 5.3% at end-March 2023, reflecting Higher Debt Service.  India’s FDI Inflows dipped in 2023 – 24 Key Highlights  As per data released by Department for Promotion of Industry and Internal Trade, FDI Inflows in 2023 – 24 contracts by 3.49% to $44.42 billion as compared with 2022 – 23.  Maharashtra received Highest FDI (USD 15.11 billion) followed by Gujarat and Karnataka in FY 2023 – 24.  Singapore was Top Source of Foreign Inflows (USD Responsible Factors 11.77 billion) followed by Mauritius, US, Netherlands  High Interest Rates in Advanced Economies. and Japan in FY 2023 – 24.  Limited Absorptive Capacity.  Top 5 Countries for FDI Equity Inflows into India during 2000 – 24 are Mauritius followed by Singapore, USA, Netherland, Japan.  Computer Software & Hardware, followed by Service Sector and Construction Activities received Highest FDI in FY 2023 – 24. o Top 5 Sectors receiving Highest FDI Equity Inflow during 2000- 2024 are Services Sector, Computer Software & Hardware, Trading, Telecommunications, Automobile Industry.  FDI  Investment made by a Company or an Individual in DPIIT One Country into Business Interests located in  Operates under Ministry of Commerce and Another Country. Industry.  Nodal Department for Formulation of FDI Policy:  Formulation and Execution of Promotional DPIIT and Developmental Actions for Expansion of  FDI is permitted through Automatic Route Industrial Sector. (Government approval Not Required) or  In 2019, “Department of Industrial Policy & Government Route (Approval Required). Promotion” was changed to “Department of  FDI is prohibited in Lottery Business, Gambling and Industrial Policy & Information Technology”. Betting, Chit funds, Nidhi Company, Trading in o DIPP was established in 1995. Transferable Development Rights etc.  Reasons for launching New Currency ZiG  Zimbabwe has grappled with High Key Highlights Inflation, with rates surpassing 500% in recent years.  Type: New Gold – backed Currency  Consequently, Zimbabwean Dollar, o New Currency backed by Gold Reserves, ensuring its value is introduced in 1980, lost its value supported by Physical Gold held by Government. due to Hyperinflation.  Collapse of Zimbabwean Dollar in  Launched By: Zimbabwe 2009, with Hyperinflation peaking  th 6 Currency used by Zimbabwe, since Apr 2009. at 5 billion %, marked one of Most Severe Currency Crashes in history.  th Replace Zimbabwean Dollar, which has lost 3/4 of its value so far this year. o Mar 2024 sees Annual Inflation spike to 55%, a 7-month peak. o In 2016, Zimbabwe introduced a new Currency called a Bond Note, backed by a US Dollar Credit Facility. Zimbabwe  Aim: To provide Stability and prevent Currency Devaluation.  Capital: Harare  President: Emmerson Mnangagwa  Available and Issued in Denominations: 1ZiG, 2ZiG, 5ZiG, 10ZiG, 20Zig, 50ZiG, 100ZiG and 200ZiG  Zimbabweans given 21 Days to swap old notes for new currency amidst inflation.  Rhisotope Project South African scientists injected Radioactive Material into Live Rhinoceros Horns to make them easier to detect at border posts in a pioneering project aimed at curbing poaching.  Commenced in 2021. Asian Rhino Range Countries Meeting  Under this, "Two Tiny Little Radioactive Chips" were inserted  3rd Asian Rhino Range Countries into Horn of a Rhinoceros. Meeting was held recently in Chitwan National Park, Nepal.  Radioisotopes make horn "Useless" & "Poisonous for Human o Chitwan Declaration for Asian Consumption." Rhino Conservation, 2023 was adopted during the meeting.  Project's Final Phase includes Aftercare and Follow – up Blood o Target: To achieve at least a 3% Samples to ensure Animals are Protected, with Radioactive Annual Growth Rate of Greater One Material lasting 5 years on the Horn, proving More Cost – – Horned, Javan, Sumatran. Effective than dehorning every 18 months.  Rhino Range Countries: India, Bhutan, Indonesia, Malaysia, Nepal.  Aims to use Nuclear Science in a novel way for Conservation.  1st meeting held in Indonesia o To radically Reduce Demand from End – Users & Save Rhinos (2013) and 2nd held in India (2019). from Very Real Threat of Extinction.  Conservation Efforts by India  National Rhino Conservation Strategy (2019): To conserve Greater One – Horned Rhinoceros. o Called for Active Engagement between India and Nepal to protect the species. o Sukla – Phanta (Nepal), Valmiki Tiger Reserve (India), Chitwan National Park (Nepal), Dudhwa (India)  Indian Rhino Vision 2020: Launched in 2005, to attain a Wild Population of at least 3,000 Greater One – Horned Rhinos spread over 7 Protected Areas in Indian State of Assam by 2020. o National Park: Kaziranga, Pobitora, Orang, Manas. o Wildlife Sanctuary: Laokhowa, Burachapori, Dibru Saikhowa.  Ministry of Environment Forest and Climate Change (Bhupender Yadav) has begun a project to create DNA Profiles of All Rhinos in India.  Rhino Translocations to Manas National Park set for beginning of 2023 were rescheduled for 2024.  Kenya – India Collaboration on Cheetah Conservation Kenyan Delegation visited India to discuss collaboration on Wildlife Conservation Efforts, with a particular emphasis on ongoing Cheetah Reintroduction Project (Project Cheetah).  Aim: To restore Population of Cheetahs, which were declared extinct in the country in 1952.  Phase – 1 of Project started in 2022. o It involves Translocation of Cheetahs from South Africa and Namibia to Kuno National Park. o Implemented By: NTCA in collaboration with Madhya Pradesh Forest Department and Wildlife Institute of India.  Under Phase – 2 of Project, India is considering sourcing Cheetahs from Kenya. o Cheetahs will be translocated to Kuno National Park and Gandhi Sagar Wildlife Sanctuary (Madhya Pradesh).  United Nations Convention to Combat Desertification (UNCCD) 17 June 2024 will mark the 30th anniversary of Bonn – based United Nations Convention to Combat Desertification (UNCCD). UNCCD  Established in 1994.  Sole Legally Binding International Agreement linking Environment and Development to Sustainable Land Management.  Objectives: To Protect and Restore Land and ensure a Safer, Just and More Sustainable Future.  Members: 196 Countries and European Union  India became a signatory to UNCCD on 14th Oct 1994 and ratified it on 17th Dec 1996.  Nodal Ministry: Ministry of Environment, Forest and Climate Change (Bhupender Yadav)  Parties to Convention meet in Conferences of Parties (COPs) every 2 Years. o 16th Session of Conference of the Parties (COP16) of United Nations Convention to Combat Desertification (UNCCD) will take place in Riyadh (Saudi Arabia) from 2 to 13 December 2024. o 15th Conference of Parties (COP15) of United Nations Convention to Combat Desertification (UNCCD) in Cote d'Ivoire (Western Africa). o 14th Edition of Conference of Parties (COP – 14) to UN Convention to Combat Desertification (UNCCD) ended in 2019.  Held in Greater Noida, this was 1st Time that India hosted an edition of UNCCD COP.  Flagship Initiatives  Land Degradation Neutrality (LDN) Target Setting Programme (LDN TSP) 2015: Parties were invited to formulate Voluntary Targets to achieve LDN. o LDN: Sustainable Management of Land Resources to support Ecosystem Services and Food Security. o India committed to restore 26 million hectares by 2030.  Strategic Framework 2018−2030 (2017): It urged Nations to incorporate Desertification/Land Degradation and Drought Concerns into National Policies.  Bonn Challenge: To bring 150 million hectares of World’s Deforested and Degraded Land into Restoration by 2020 and 350 million hectares by 2030.  Great Green Wall 2007: Initiative by Global Environment Facility (GEF), where 11 Countries in Sahel – Saharan Africa have focused efforts to fight against Land Degradation and revive Native Plant Life to the Landscape.  Other Initiatives: Changwon Initiative (2011), International Drought Resilience Alliance (2022), G20 Global Land Initiative (2020), etc.  CDRI announces $8 Million funding to Small Island Developing States Coalition for Disaster Resilient Infrastructure made this announcement at United Nations 4th International Conference on SIDS held in Antigua and Barbuda. CDRI's Infrastructure for Resilient Island States Programme (IRIS)  Launched at COP26 of United Nations Framework Convention on Climate Change (UNFCCC), held in Glasgow, UK.  Contributes to UN’s SAMOA Pathway (SIDS Accelerated Modalities of Action) initiative. o SAMOA: To Improve Resilience of SIDS Infrastructure to Climate Change and Disasters, etc.  Aim: To provide Technical Support and promote Disaster and Climate Resilience of Infrastructure Assets in SIDS.  Supported by Countries like UK, Australia etc. SIDS  Group of 39 States and 18 Associate Members of United Nations Regional Commissions.  Dependent over Funding due to Social, Economic and Environmental Vulnerabilities. o E.g. Slow Onset Events such as Sea Level Rise pose an Existential Threat to Small Island Communities, requiring Drastic Measures such as Relocation of Populations.  Recognized as a special case for their Environment and Development at United Nations Conference on Environment and Development (1992), also known as Earth Summit, held in Rio de Janeiro, Brazil.  Container Port Performance Index 9 of Indian Ports have found their position among Top 100 Global Ports in CPPI in 2023. Container Port Performance Index (2023)  Developed By: World Bank and S&P Global Market Intelligence.  Comparable Assessment of Performance based on Vessel Time in Port.  Ranks 405 global container ports by efficiency, focusing on Duration of port stay for container vessels.  Yangshan Port in China is first, followed by the Port of Salalah in Oman. Port of Cartagena is third, and Tangier-Mediterranean is fourth.  Visakhapatnam Port jumped from 115 in 2022 to 19 in the 2023 rankings, becoming the 1st Indian Port to reach Global Top 20. o Mundra Port also improved its position, rising from 48 last year to 27 in the current ranking. o Seven other Indian ports, which secured ranks in the top 100, are Pipavav (41), Kamarajar (47), o Cochin (63), Hazira (68), Krishnapatnam (71), Chennai (80) and Jawaharlal Nehru (96).  Scenario of India’s Port Ecosystem  According to Ministry of Shipping, around 95% of India's Trading by Volume and 70% by Value is done through Maritime Transport. o In 2020, Prime Minister renamed Ministry of Shipping as Ministry of Ports, Shipping and Waterways.  Indian Government allowed Foreign Direct Investment (FDI) of up to 100% under Automatic Route for Port and Harbour Construction and Maintenance Projects.  All 13 Major Ports are governed under Major Port Trusts Act, 1963 and are owned and managed by Central Government. o All Minor Ports are governed under Indian Port Act 1908 and are owned and managed by State Govt. o Under National Perspective Plan for Sagarmala, 6 New Mega Ports will be developed in India.  India is 16th Largest Maritime Country in the world with a coastline of 7,516.6 kms.  In FY23, Major Ports in India handled 783.50 million tonnes of Cargo Traffic.  In FY24 (April-January), Cargo Traffic handled by Major Ports stood at 677.22 million tonnes.  India is home to Largest Ship Breaking Facilities in the world. o India is recycling around 70 lakh GT (Gross Tonnage) every year, followed closely by Bangladesh, Pakistan and China. o Alang Ship Breaking Yard in Gujarat being the World's Largest Ship Recycling Facility.  In 2023; Ministry of Ports, Shipping, and Waterways proposed Indian Ports Bill with the aim of enhancing transparency in Port Tariffs.  QS World University Rankings 2025 QS World University Rankings was released by Quacquarelli Symonds (QS), a Leading Network of Experts in Education Sector. Key Highlights of Rankings  Top Global Institutes: Massachusetts Institute of Technology (MIT), Imperial College London (ICL), Harvard University a and University of Oxford (Jointly held 3rd Rank.) o MIT: Best Institute globally for 13th Consecutive Year. o Imperial College London: Improved from 6th to 2nd.  ETH Zurich: Top Institution in Continental Europe for 17th Year.  Asia: National University of Singapore (NUS) remains a prominent institution, keeping its 8th Spot.  India’s Position  With 46 Universities, Indian Higher Education System is 7th Most Represented globally and 3rd in Asia, trailing only Japan (49 Universities) & China (71 Universities). o 61% of Indian Universities’ Ranking has improved, with IIT Bombay gaining Top Spot in India. o While 24% have maintained their positions.  Citations per Faculty: India’s Performance Score is 37.8, surpassing Global Average of 23.5. o This is 2nd Highest in Asia among Countries with more than 10 Ranked Universities. o However, India lags in International Faculty Ratio and International Student Ratio Indicators.  Energy Transition Index India has been ranked 63rd on a global Energy Transition Index released by World Economic Forum. World Economic Forum was founded in Jan 1971 by German engineer and economist Klaus Schwab. Energy Transition Index  Aim: To comprehensively monitor Global Energy Transition.  Based on evaluation of 120 Countries.  3 Energy System Performance Dimensions: Security, Equity and Sustainability  Top Performers: Sweden, Denmark, Finland, Switzerland, France  6 G20 Countries are among Top 20 Performers: France, Germany, Brazil, China, UK, USA.  India has been ranked 63rd.  Net-Zero Emissions: 8 Countries (Bhutan, Comoros, Gabon, Guyana, Madagascar, Niue, Panama, and Suriname) reached Net-Zero Emissions in 2022.  Investment Trends: Clean Energy Infrastructure Investments reached $1.8 trillion in 2023, with nearly 90% of the growth since 2021 occurring in Advanced Economies and China. Initiatives in Energy Transition  Global Renewables and Energy Efficiency Pledge: Signed by 133 Countries CoP 28 of UNFCCC, calls for Tripling the Rate of Renewables Capacity by 2030.  Just Energy Transition Partnerships: Launched by International Energy Agency & WEF in 2022 to support Developing Countries in their transition towards Clean Energy.  Carbon Border Adjustment Mechanism (CBAM): Launched by EU in 2023.  Travel and Tourism Development Index India has improved its ranking in Travel & Tourism Development Index as compared to the previous report. Travel & Tourism Development Index  Type: Biennial Index  2024 Index is 2nd Edition of Index.  Published By: World Economic Forum o In collaboration with University of Surrey  Overall Index Score: 7, where 1 is Worst and 7 is Best.  Analyzed Travel and Tourism Sectors of 119 Countries.  Measures Set of Factors and Policies that enable Sustainable and Resilient Development of T&T.  India is ranked 39th (4.25), Highest in South Asia and among Other Lower – Middle – Income Economies. o India's new ranking is a notable improvement from its 54th Position in 2021 Index. o India ranks 6th, according to World Travel and Tourism Council, in terms of Travel & Tourism Total Contribution to GDP in 2021. o Travel & Tourism contributed 5.8% to GDP.  SIPRI Yearbook 2024 SIPRI yearbook 2024 has been published by Oxford University Press on behalf of Stockholm International Peace Research Institute. SIPRI Yearbook 2024: Armaments, Disarmaments, and International Security  Nuclear Arsenal: 9 Nuclear – Armed States — US, Russia, UK, France, China, India, Pakistan, North Korea, and Israel — continued to modernize their Nuclear Arsenals. o Of total 12,121 Nuclear Warheads, almost 90% belongs to USA and Russia.  Operational Warheads: Global Reductions of Operational Warheads appear to have stalled with China expanding its Nuclear Arsenal.  China is in the middle of a significant modernization and expansion of its nuclear arsenal. o China has Tripled the Number with 500 Warheads.  India slightly expanded its Nuclear Arsenal to 172 in 2023, ranked 6th, surpassing Pakistan’s Nuclear Arsenal (170) for 1st time.  India’s 3rd SSBN [Nuclear-powered Submarine carrying Ballistic Missiles armed with Nuclear Weapons was launched in 2021 and a 4th is Under – Construction for possible launch in 2024.  Along with Israel, India mainly uses Plutonium as Fissile Material in Nuclear Weapons.  Measures taken for Nuclear Disarmament  Treaty on Prohibition of Nuclear Weapons 2017: Prohibits Development, Testing, Production, Acquisition, Possession or Use of Nuclear Weapons.  Treaty on Non-Proliferation of Nuclear Weapons (NPT) 1968: Entered into force in 1970 and aims to prevent spread of Nuclear Weapons, promote Cooperation in Peaceful Uses of Nuclear Energy and achieve Nuclear Disarmament.  Outer Space Treaty 1967: Bans the siting of weapons of mass destruction in space.  Comprehensive Test – Ban Treaty 1996: Prohibits Nuclear Weapon Tests in Atmosphere, Outer Space and Underwater. o While the treaty has been signed by 185 Countries and ratified by 170, it has not entered into force as Nuclear – armed States must ratify it to become operational. 12 Countries and ESA signed Zero Debris Charter Zero Debris Charter was signed at 11th ESA/EU Space Council, which was 1st established in 2004 under Framework agreement between ESA and European Union. Zero Debris Charter  World-leading Effort to become Debris – Neutral in Space by 2030.  Signatory Countries: Austria, Belgium, Cyprus, Estonia, Germany, Lithuania, Poland, Portugal, Romania, Slovakia, Sweden and United Kingdom. Regulations to control Space Debris  Space Liability Convention of 1972 o Defines Responsibility in case a Space Object causes harm. o As per treaty, “A Launching State shall be Absolutely Liable to Pay Compensation for Damage caused by its Space Objects on the Surface of the Earth or to Aircraft, and liable for damage due to its faults in Space".  Space Debris Mitigation Guidelines 2002 o Specified by: Inter – Agency Space Debris Coordination Committee o Outline Methods to limit Accidental Collisions in Orbit, Break-ups during Operations, Intentional Destruction, and Post-Mission Break-ups. o Endorsed by UN in 2007.  Steps Taken by Other Countries  ISRO’s Project NETRA: NETRA stands for NEtwork for space object TRacking and Analysis o Early Warning System that would help detect Space Hazards to Indian Satellites. o It is expected to give India its Own Capability in Space Situational Awareness (SSA).  Orbital Debris Program: NASA’s initiative since 1979, focusing on Reducing Orbital Debris Creation, Tracking Existing Debris and Exploring Debris Removal Technologies.  Zero Debris Charter: Adopted by European Space Agency with goal of achieving Zero Space Debris by 2030.  Japanese CRD2 Demonstration: Partnership between Japan’s Aerospace Exploration Agency (JAXA) and Astroscale to develop Debris Removal Technologies.  Space Force Tracking System: Implemented by US Space Force to monitor Space Debris and assess Collision Risks in Low Earth Orbit.  Chinese Debris Removal Initiatives: China’s efforts include Deploying Spacecraft for Debris Removal with Innovative Technologies like Solar Sails.  Magellan Mission After analyzing the archived data from NASA’s Magellan Mission, scientists say they observed New Lava Flows on Venus, suggesting that the Planet was Volcanically Active between 1990 and 1992. Magellan Mission  Type: Deep Space Mission  Launched by NASA on May 4, 1989.  Launched from Cape Canaveral aboard Space Shuttle Atlantis.  Aim: To explore Planet Venus.  1st Inter – Planetary Mission launched from Space Shuttle and 1st Spacecraft to use Inertial Upper Stage Booster.  Named after the Portuguese explorer Ferdinand Magellan, who was 1st to Circum-Navigate the Earth.  Goal: To map Surface of Venus using Radar Imaging, as Thick Atmosphere of Planet made Visual Observation Difficult.  Arrived at Venus in 1990, made 1st Global Map of Surface of Venus as well as Global Maps of Planet's Gravity Field.  In Oct 1994, Magellan Spacecraft intentionally plunged to Surface of Venus to gather data on Planet's Atmosphere before it ceased operations.  It marked 1st Time an operating Planetary Spacecraft had been intentionally crashed.  Europe’s AI Convention Council of Europe adopted Framework Convention on Artificial Intelligence and Human Rights, Democracy and Rule of Law known as "AI Convention". AI Convention of Europe  Comprehensive Convention covering AI Governance and links to Human Rights, Democracy and Responsible Use of AI.  Opened for signature in Vilnius (Lithuania) on Sep 5, 2023.  Broad Exemptions for National Security Interests, Research, Development and Testing, National Defense. o Consequently, Military Applications of AI are Excluded from Convention.  Inclusion of Private Sector: Flexibility for Parties to address Private Sector Activities Without Completely Exempting them.  Protection of Core Values o Human Rights (Article 4): Mandates Protection of Human Rights o Democratic Processes and Rule of Law (Article 5): Emphasizes Maintaining Integrity of Democratic Processes and respect for Rule of Law. o Although Disinformation and Deep Fakes are Not Specifically Mentioned, Parties are expected to take measures against them under Article 5.  Framework Convention  Type: Legally Binding Treaty  Outlines Broad Commitments and Objectives, Establishing Mechanisms to achieve them. o Specific Targets are left to be determined by Subsequent Agreements.  Agreements Negotiated under a Framework Convention are called Protocols. o E.g., Convention on Biological Diversity is a Framework Convention, while Cartagena Protocol on Biosafety addresses Living Modified Organisms under it. o Similarly, a future "Protocol on AI Risk" could be established under Europe's AI Convention.  Significance of Framework Convention Approach o Provides Flexibility while Encoding Core Principles and Processes to Achieve Objectives. o Parties to Convention can decide how to meet these Objectives based on their Capacities and Priorities. Thank You