Current Affairs 10 December, 2024

Daily Current Affairs

10 December, 2024

National Affairs

1. LIC’s Bima Sakhi Yojana

Context:

Prime Minister Narendra Modi on Monday launched Bima Sakhi Yojana in Panipat, Haryana. An initiative of the state-owned Life Insurance Corporation (LIC) that aims to enroll 100,000 Bima Sakhi in 12 months to financially empower women.

Aim of the scheme:

• Women empowerment and financial inclusion.
  • The scheme aims to empower women by enrolling them as Bima Sakhi (Insurance Agents), with a target of enrolling 100,000 women in the first year and 200,000 over the next three years.
• Gender Equality and Employment Generation: Employment generation scheme which aims to uplift the women.

Key Features:

• Eligibility
  • Women age between 18 to 70 years.
  • Must have passed 10th class.

Read more>>

2. Tirzepatide: Obesity Drug

Context:

US pharma giant Eli Lilly, which plans to bring its obesity and diabetes drug Tirzepatide (or Mounjaro) to India next year.

About the Drug:

• Tirzepatide is an antidiabetic medication used for the treatment of type 2 diabetes and for weight loss. Tirzepatide is administered via subcutaneous injections (under the skin). 
• It is sold under the brand names Mounjaro for diabetes treatment, and Zepbound for weight loss.

Drug Composition:

Tirzepatide is a linear polypeptide of 39 amino acids that has been chemically modified by lipidation to improve its uptake into cells and its stability to metabolism.

Eli Lilly:

Eli Lilly is a pharmaceutical company that was founded by Colonel Eli Lilly, a Union Army veteran and pharmaceutical chemist, in 1876.

3. Merchant Shipping Bill, 2024 and Coastal Shipping Bill, 2024

Context:

Merchant Shipping Bill, 2024 and Coastal Shipping Bill, 2024 are coming to modernize India’s Maritime Framework.

Why New Bill?

Merchant Shipping Act, 1958 and Coasting Vessels Act, 1838 are urgently required to be repealed. Both have become very old and are not at all able to meet modern requirements in the merchant marine world.

• The Act which limits the welfare provisions of seafarers to Indian-flagged ships has proven a problematic act in modernization of maritime administration.

Highlights of the Merchant Shipping Bill

• Registration: Under the existing law the vessels are allowed to register only for 100% Indian owned entities. The Bill aims for greater amendment to attract foreign investment.
• The new Bill addresses this by broadening the definition of ‘vessels’ to include a wide range”
• Ships cover broadened: The existing Act deals with mechanized ships of a particular size and does not apply to smaller mechanized vessels and all non-mechanized vessels.
• Enhancing coastal security: The new Bill will aid enhance coastal security as the authorities would be empowered to issue orders to all types of vessels.

Know more Merchant Shipping Bill, 2024?

4. INS Tushil, the ship of Indian Navy.

Context:

The Launching Ceremony of INS Tushil, the ship of Indian Navy in Kaliningrad.

Key Highlights:

• INS Tushil, an initiative of the Indian and Russian companies, is an advanced Krivak III class frigate.
• The ship is powered by engines from Ukraine’s Zorya Nashproekt and is the seventh in the series of Krivak type frigates.
• It is the first of the two follow-on vessels currently constructed in Russia.
• INS Tushil is a blue water warrior in all dimensions.

Krivak Class Fritgate:

• Designed by Soviet Union; called Project 1135 Burevestnik or storm petrel.
• Constructed for Soviet Navy from 1970s.
• Until 1977, they were big anti-submarine warfare ships.
• The NATO reporting class name is Krivak.
• Krivak I, Krivak II, Krivak IV navy, and Krivak III coast guard are the classes.

5. India’s production-linked incentive (PLI) schemes

Context:

India’s production-linked incentive (PLI) schemes have led to investments of more than ₹1.25 lakh crore, Prime Minister Narendra Modi said.

Key Highlights:

• Launch:
  • The PLI scheme was introduced in March, 2020 with an aim to strengthen the manufacturing in India and add to India’s contribution to the global supply chain.
• Ministry:
  • MINISTRY OF NEW AND RENEWABLE ENERGY
• Objective:
  • This scheme covers 14 sectors. It is targeted towards achieving considerable employment opportunities as well as driving industrial capital expenditure, or capex.

Know more about PLI Scheme?

6. One Nation One Election

Context:

The Centre is working on draft legislations for the implementation of ‘one nation, one election’ and would shortly begin its implementation exercise by attempting to build consensus across party lines, sources said.

One Nation One Election in india

• The ONOE concept of India gives a call to conduct simultaneous elections to the Lok Sabha and State Assemblies from every part of the country.
• It is bringing about the simultaneous conduct of polls rather than having staggered elections at different intervals for different legislatures.
• Consolidation of all elections means that they would take place at one time instead of seperately.

Read more>>

7. India Trade with BRICS Countries

Context:

India is now trying to get all customs-related benefits extended to a trusted trader from BRICS countries and it may end up availing benefits for the Indian exporter itself.

Highlights from the News:

• The trade between India and BRICS nations cumulatively over the last one year from June 2013-14 at 8.3 percent annually to $215.3 billion in FY24.
• Such an agreement will be beneficial for Indian exporters as it might improve exports into India because of the trade deficit with the second-largest economy worldwide.

BRICS:

• BRICS(named after countries joined firstly) pursued relationships of investment, and later it became an intergovernmental organization comprising nine countries namely Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, UAE.
• First Summit: Russia in 2009
• Founded in: 16 June 2009

Banking/Finance

1. Handbook of Statistics on Indian States by Reserve Bank of India

Context:

This Handbook of Statistics on Indian States published by the Reserve Bank of India points to a deceleration in the growth of the pension bill for states and UTs during the year 2022-2023.

Key Highlights:

• Pension bills for seven states have decreased during FY23: Assam, Chhattisgarh, Jharkhand, Odisha, Kerala, Telangana, and West Bengal.
• Uttar Pradesh, Maharashtra, Tamil Nadu, and Bihar have seen the highest spikes in their pension bills.
• Pension remains a contentious issue due to opposition from the new pension scheme (NPS) and Old Pension Scheme (OPS).

RBI Handbook of Statistics about Indian States

Major Features:

• Economic Indicators: It informs about GSDP, finances of state government, macroeconomic aggregates, income levels, per capita income, and sectoral growth pattern.
• Government Finance and Expenditures: It contains information related to budgetary follows of state governments, revenues collected, expenditures incurred, and fiscal deficits.
• Social Indicators: It contains information related to population figures, literacy level, among others, and level of employment.
• Sectoral Data: It underlines the available sectoral data concerning agriculture, industry, and services.
• Pension and Employment Data: It gives information about pension expenditure and other liabilities in respect of a State budget.
• Infrastructure and Development: It allows the access to primary infrastructure indicators and data of the state related to development.
• Time Series Data: It helps to trace the trends of evolved long-run net economic and fiscal performance through state levels.
• Comparison of State: It enables to compare economic performance with regard to states and UTs.

Agri Business

1. Meta Market for Advanced Agriculture and Rural Services (MAARS) 

Context:
The $8 billion in revenue, diversified ITC Ltd. is keen on 10 million farmers across 4,000 farmer producer organisations (FPOs) in the country accessing its Meta Market for Advanced Agriculture and Rural Services (MAARS) by 2030.

Highlights:

• According to an official release, the diversified ITC company has set a target of about 10 million farmers through 4,000 farmer producer organisations (FPOs) in India.

Features of the app:

• ITCMAARS can be defined as a phygital ecosystem that would offer services amongst farmers through customized advisory on crops and weather, access to seeds and fertilizers, price information in mandis, and bank linkages.
• The super app also hosts Krishi Mitra, which happens to be the Gen-AI voice assistant for the farmers.

Phygital environment – crop-agnostic hyperlocal services for rich farm income and climate change practices.

See more features

Objective:

• This initiative has been initiated under e-choupal to further strengthen the bonds with farmers.
• ITC launches Metamarket for Advanced Agriculture and Rural Services or ITCMAARS for offering innovative agri solutions.
• Other external partners offering services such as soil testing, local weather information, and drones.

Way Forward:

• The company plans to penetrate other value chains like fruits, vegetables, and spices as part of expanding the ITCMAARS.
• Crop insurance is to be included as a new service in the list.

Know more about ITCMAARS?

2. The International Crops Research Institute for Semi-Arid Tropics (Icrisat) 

Context:

Icrisat’s solar-powered water hyacinth harvester offers a cost-effective solution for rural communities facing weed infestations solar-powered water hyacinth harvester offers a cost-effective solution for rural communities facing weed infestations.

Highlights:

• Such solutions were developed by Icrisat for rural farming communities using solar water hyacinth harvesting machines.
• These machines cost less than ₹2 lakh, so they are effective and cost-efficient compared to expensive machinery.
• This aquaric weed is growing rapidly and destroys rural environments, so it’s a very big problem.

The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT)

The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) is an international organization that is working to improve dryland farming and food systems to combat hunger, malnutrition, poverty, and environmental degradation:.

• Mission
  • ICRISAT’s mission is to eradicate poverty, hunger, malnutrition, and degradation of the environment in the dryland tropics.
• Founded:
  • March 28, 1972, through a Memorandum of Agreement between the Government of India and CGIAR. 
• Vision
  • ICRISAT envisions a prosperous, food-secure, and resilient dryland which will change itself in an ever-changing world.
• Headquarters
  • ICRISAT is based at Patancheru in India. It operates a sprawling 1,390-hectare campus inside Hyderabad, Telangana, with state-of-the-art research facilities.

Read more>>

3. Exploring oil and gas deposits in forests

Context:

The Union environment ministry has undertaken measures to clear the ground for the approval process of forest surveys and exploratory drilling intended to drill into the ground for oil and gas exploration.

Highlights:

• Nodal Officer under the Forest (Conservation and Augmentation) Act shall have to approve the land diversion permission for survey and exploratory drilling proposals in the forest areas.
• The divisional forest officer must note the observations and recommendations within a month and forward the application to the nodal officer.

Forest (Conservation and Augmentation) Act, 1980:

• Forest (Conservation and Augmentation) Rules, 2023, repealed the Forest (Conservation) Rules of 2022.
• Such rules forbid deforestation of reserved forests and non-forest use of forest land or lease or handover of forest land to private entities.
• It restricts disbursement of naturally grown trees from reforestation.