Current Affairs 11 December, 2024

Daily Current Affairs

11 December, 2024

National Affairs

1. Regularizing Overfishing though WTO framework

Context:

India is pushing for the use of a “per capita distribution of subsidies” criteria in order to discipline subsidies that result in overfishing and overcapacity under a World Trade Organisation (WTO) framework.

Highlights:

• India has brought a proposal before the WTO whose title reads, “Designing Disciplines for the Overcapacity and Overfishing Pillar: A Case for Intensity-based Subsidies Approach” for the purpose of disciplining overfishing and overcapacity caused by excessive subsidies.
• The said paper is scheduled for discussion at the General Council Meeting of the WTO in Geneva on December 16-17.

World Trade Organization

• An international organization with its headquarters in Geneva, Switzerland.
• Formation: 1 January 1995
• Director General: Ngozi Okonjo-Iweala
• Controls and promotes international trade.
• The World’s Largest International Economic Organization – 166 Members.
• Accounting for more than 98% of Global Trade and GDP.

World Trade Organization framework for addressing overfishing through the Agreement on Fisheries Subsidies

• Agreement on Fisheries Subsidies
  • In June 2022, this agreement actually banned subsidies that were harmful to increasing sustainability in fishing.
  • It was the first WTO agreement truly about the environment and the first one wholly meeting a Sustainable Development Goal (SDG).
• Negotiations for extended rules
  • WTO members are negotiating for more comprehensive rules that can regulate all subsidies that would be responsible for overfishing and overcapacity.

Know more about WTO?

2. India Skill Report 2025

Context:

‘India Skills Report 2025’ released on Tuesday. The report prepared by industry body Confederation of Indian Industries (CII) in collaboration with Wheebox and All India Council for Technical Education (AICTE).

Highlights of the Report

• 55% of Indian graduates to have chances of becoming employable globally by 2025, which is an increase from 51.2% in 2024.
• Management is the most globally employed graduate field at 78%.

About Confederation of Indian Industries (CII)

• Founded in: 1895
• Headquarter: Delhi
• CII is a non-government, not-for-profit, industry-led and industry-managed organization.
• The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the development of India.

The All India Council for Technical Education (AICTE)

• It is a national-level advisory body and regulatory body that was established in 1945.
• Headquarter: New Delhi

3. Odisha Particularly Vulnerable Tribal Groups (PVTGs) Empowerment and Livelihood Improvement Programme (OPELIP-II)

Context:

The government of Odisha will take an external loan of ₹734.86 crore from IFAD for implementation of Phase II of the Odisha Particularly Vulnerable Tribal Groups (PVTGs) Empowerment and Livelihood Improvement Programme (OPELIP-II).

Key Highlights:

• The rationale behind going for an international loan, just when the Ministry of Finance of India has inaugurated the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan with a fund from the Center.

The Pradhan Mantri Janjati Adivasi Nyay Maha Abhiyan (PM JanMan):

It aims to improve the socio-economic condition of Particularly Vulnerable Tribal Groups (PVTGs) by:   

• Under this campaign, the infrastructure of these specific communities will be improved.   
• These will be enhanced in education, health, and livelihood aspects.
• Better Amenities:
  • safe housing, hygienic drinking water, better road and telecommunication connectivity.
• Budget Allocation:
  • Rs 24,104 crore.
• Launch:
  • 29 NOV 2023
• Ministry:
  • Ministry of Tribal Affairs: Shri Jual Oram (Minister)

Particularly Vulnerable Tribal Group (PVTGs)

• It is a sub-categorization of a Scheduled Tribe within India that is much more vulnerable than the typically Scheduled Tribes. A total of 75 PVTGs can be found all over India.

• Some characteristics of PVTGs include: 
  • Low literacy levels, Primitive traits, Geographical isolation, Zero to negative population growth rate, and Backwardness. 

4. Gaganyaan Mission

The Indian Space Research Organisation (ISRO) with the Indian Navy successfully carried out the well deck trials of the Gaganyaan missions’ crew module.

About the mission:

• ISRO’s Gaganyaan Mission would be the first programmed step toward developing India’s capability in human spaceflight.
• The crew will consist of three astronauts, known as vyomanauts, who will complete three days of orbiting the Earth at a 400-kilometer altitude.
• It is going to be launched using GSLV Mk-III rocket also referred as “Bahubali” rocket.

Know more about Gaganyaan Mission of ISRO?

5. One Nation One Subscription (ONOS)

Context:

The Centre’s One Nation, One Subscription (ONOS) scheme will more than triple the number of State-affiliated colleges and individuals who can access research papers — in the sciences and humanities — from the world’s top publishers.

About the scheme:

• The One Nation One Subscription scheme will benefit all Higher Educational Institutions under Central or State Government management and Research & Development Institutions through a national subscription coordinated by the Information and Library Network (INFLIBNET), an autonomous inter-university center of the University Grants Commission.
• First phase of onos will commence on January 1, 2025, private universities and colleges will be included after 2027.

• Budget Allocation:
  • A total of about Rs.6,000 crore has been allocated for One Nation One Subscription for 3 calendar years, 2025, 2026 and 2027
• Ministry:
  • Ministry of Education

6. PM POSHAN

Context:

The Centre has announced that it will bear the additional cost of ₹425.62 crore on account of inflation in food material cost under the Centrally sponsored PM POSHAN Scheme in the financial year 2024-25.

Highlights:

• The Centre also provides about 26 lakh tonnes of foodgrains through the Food Corporation of India for which it bears 100% cost, including subsidy of approximately ₹9,000 crore a year and 100% transportation cost from FCI depots to schools.

PM POSHAN

• Ministry: Ministry of Education
• Previous Name:
  • National Programme of Mid-Day Meal in schools.
• September 2021:
  • Mid-Day Meal Scheme was renamed as Pradhan Mantri POSHAN Scheme.
• It is a centrally sponsored scheme.
• Coverage: one hot cooked meal is being served to students studying in Balvatika and classes I to VIII, in Government and Government-aided schools on all school-days.
• Aims and Objectives:
  • To promote healthy eating among children and to motivate them to attend school regularly.
  • This scheme addresses, nurturing. Secondary to this, it solves the two most important issues for the majority of children in India, hunger and education.
    • Improving the nutritional status of eligible children in Government and Government To improve the eligibility of Government and Government Aided schools with Beneficiaries in the categories of nutrition.
    • Nutritional support to elementary children in drought-affected or disaster-hit areas during summer vacation.

7. National AYUSH Mission (NAM)

Context:

The Government of India has adopted a strategy of Co-location of Ayush facilities at Primary Health Centres (PHCs), Community Health Centres (CHCs) and District Hospitals (DHs), thus enabling the choice to the patients for different systems of medicines under a single window.

National AYUSH Mission (NAM)

• Launch Date
  • 2014
• Ministry:
  • Ministry of Health & Family Welfare: Engagement of Ayush doctors/paramedics and their training
  • The Ministry of Ayush: provides support for Ayush infrastructure, equipment/furniture, and medicines.
• Aims and Objectives
  • Improving AYUSH healthcare services nationwide.
  • Establish a holistic wellness model through AYUSH Health and Wellness Centres.
  • Provide informed choice to the public through co-location of AYUSH facilities at PHCs, CHCs, and DHs.

8. Kavach: The Shield of Safety

Context:

Indian Railways Presents Kavach: Advanced Train Protection Automatic System

Highlights:

• Kavach is a high-tech ATP system with a Hindi etymology meaning “shield” and “defense” intended to ensure full compliance with the highest bet standards in train operations.
• The Automatic Train Protection watches over train speeds, enforcing automatically restricted maximum permissible speeds.

Read more>>

9. AI-Enabled Anti-Aging Molecule Discovery: AgeXtend

Context:

AgeXtend is an AI platform developed by the Indraprastha Institute of Information Technology, Delhi for identifying the anti-aging molecules.

Highlights:

• It acts as a GPS in the chemical space, guiding researchers to the leads of possible anti-aging molecules.
• It’s the largest research study done on the subject, scanning more than 1.2 billion molecules.

How it Works?

• Prediction of Gero Protective properties
  • Geroprotectors are therapeutic interventions that target the root causes of aging to prevent age-related diseases and decline
• Toxicity evaluation
  • Identification of target proteins and mechanisms of action.
  • Successful identification of compounds such as metformin and taurine as longevity enhancers.
  • Screening of about 1 billion compounds.
• Application
  • Treatment of senescent diseases and in extending health span.

Banking/Finance

1. Sebi plans to use govt’s DigiLocker system

Context:

Markets regulator Sebi plans to use govt’s DigiLocker system to reduce instances of unclaimed assets in the securities market. This includes MF folios and stocks left with fund houses and depositories after the death of an investor.

Highlights:

• As said by the market regulator, Sebi plans to utilize the government’s DigiLocker system to bring down unclaimed assets in the securities market.
• The system combined both MF folios and stocks left over with fund houses and depositories when the investor dies.

DigiLocker

It is a secure cloud-based platform that allows Indian citizens to store, share, and verify documents and certificates. It was developed by the Ministry of Electronics and Information Technology (MeitY) as part of the Digital India program.

Know about SEBI?

2. Sanjay Malhotra takes charge as RBI’s 26th Governor

Sanjay Malhotra on Wednesday took charge as the 26th Governor of the Reserve Bank of India (RBI).

Also Read: New RBI Governor: Sanjay Malhotra to replace Shaktikanta Das

Process of RBI Governor Appointment in India?

3. Public sector banks’ write-offs touched ₹7 lakh cr in FY20-FY25

Context:

Public Sector Banks have written off around ₹7 lakh crore between 2019-20 and 2024-25 (till September), the Finance Ministry has informed the Rajya Sabha.

• Public Sector Banks (PSBs) are banks in India that are majorly owned by the government and provide financial services to promote economic development. 
• The government holds more than 50% of the stake in these banks.  

Highlights:

• Public Sector Banks have written off around ₹7 lakh crore between 2019-20 and 2024-25 (till September), the Finance Ministry has informed the Rajya Sabha. The good news is that these banks recovered over ₹5 lakh crore of their Non-Performing Asset (NPAs) during the same period.
  • A write-off in banking is an accounting term that recognizes when a borrower’s asset is no longer valuable. It’s usually done when a loan is unlikely to be recovered and is 100% provisioned.
• A non-performing asset (NPA):
  • It is a loan or advance that is no longer generating income for the lender because the borrower has not done the payments on time. NPAs are a major concern for banks and financial institutions.

Agri Business

1. La Nina may emerge in the next 3 months: WMO

Context:

La Nina weather, which brings heavy rains and floods to India, may develop in the next three months but it is expected to be relatively weak and short-lived, the World Meteorological Organization (WMO) has said.

La Nina:

• La Nina:
  • Cold Air Occupies More of India Compared to the El Nino Cold Air.
  • La Nina year denoted rainfall caused by summer monsoon in Southeast Asia may generally tend to be above normal, especially northwest India and Bangladesh.
  • Typically, beneficial to Indian economy primarily because of its agrarian-dependent industrial rate.
  • It causes colder-than-average winters for Indian states.
  • The temperatures fall as low as Tamil Nadu but doesn’t have much impact on the North East.

Read more>>

2. Surasa, new ginger variety 

Context:

ICAR has declared the new ideally suited for commercial purposes variety of ginger namely IISR Surasa.

• Surasa has been developed through a participatory breeding programme for farmers, is non-pungent, and has very good organoleptic properties.
• Organoleptic properties:
  • They are important in the food and pharmaceutical industries for evaluating product quality.
• Farmer John Joseph discovered the variety from the Kodancherry locality in Kozhikode.
• First ginger variety developed in India exclusively for vegetable use.

3. World Bank to aid Kerala farmers adapt to climate change

Context:

World Bank approves $200 million for Kerala Climate Resilient AgriValue Chain Modernization Project

KERA, the Kerala Climate Resilient AgriValue Chain Modernization Project, will benefit approximately 400,000 farmers by promoting climate-smart practice.

The replanting of coffee, cardamom, and rubber with climate-resilient varieties and increasing food parks in rural areas will be activities for this project.

Highlights:

• Such parks will be built multi-sectoral, involving infrastructure support for agri-businesses such as food processing and value addition.
• This project ensures strengthening the linkages of farmer groups with agribusiness intending to enhance producer-buyer relations.
• This project will mobilize at least $9 million in commercial finance that will really be used by SMEs owned by women.

Facts to Remember

1. Ecologist Madhav Gadgil gets UN environmental honour

UNs highest environmental honour, for his seminal work in the Western Ghats, a global biodiversity hotspot.

• For his remarkable contribution in Western Ghats, a global biodiversity hot spot,
• The panel had recommendation of the declaration of the entire hill range as Ecologically Sensitive in 2011.

Western Ghats of India

• Runs for a long distance of 1600 kms approximately along the western coast of India.
• Spread over an area of Gujarat, Maharashtra, Goa, Karnataka, Kerala and Tamil Nadu.
• In the same manner, it forms a continuous chain along the western edge of the Deccan Plateau.
• Joins with the eastern ends near Nilgiris and runs southwards.

2. Former Union minister SM Krishna passes away

• Ex-Karnataka chief minister and former External Affairs Minister SM Krishna died early on Tuesday.
•  2023, Krishna was awarded the Padma Vibhushan

3. IIT-Delhi, IIT-Kanpur among worlds top 100 varsities for environmental impact

• Indian Institute of Technology (IIT), Delhi is at top among universities in India for sustainability, jumping 255 places to reach 171 globally, according to QS Rankings announced on Tuesday.

4. Subramania Bharati

Context:

Prime Minister Narendra Modi will release a complete and annotated version of the works of Tamil poet and freedom fighter Subramania Bharati.

C. Subramania Bharati – Father of Modern Tamil Poetry

• Born C. Subramaniyan in 1882, Bharati was a writer, poet, and journalist, and was also a teacher and social reformer.
• His works include patriotic songs during the Indian Independence movement and fought women’s emancipation, abolition of child marriage, annihilation of caste system and social and religious reforms.

5. Harmeet Dhillon picked as Assistant A-G for Civil Rights

• US President Donald Trump has appointed Harmeet K. Dhillon as Assistant Attorney General for Civil Rights-the name of a famous civil rights activist who gained some prominence in the time of the 2020-21 Indian farmer’s protest.