Daily Current Affairs
13 December, 2024
National Affairs
1. D. Gukesh: World Chess Champion
- Winning against Ding Liren, D Gukesh becomes the youngest world chess champion.
- He broke the record long held by Russian Garry Kasparov for almost four decades.
- There are only three Asians who have won the World championship and Gukesh is one of them.
- Match Venue
- 25 November and 13 December 2024, in Singapore.
2. Union Cabinet approves Bills on simultaneous polls
Context:
The Union Cabinet on Thursday approved two Bills related to the implementation of simultaneous elections to the Lok Sabha and the Assemblies.
Highlights:
- The first one amends the Constitution to pave the way for simultaneous elections.
- The second one amends the provisions in laws concerning Union Territories with Legislative Assemblies.
- They have faced opposition from Chief Ministers of both Tamil Nadu and West Bengal.
- The moment they are introduced in the House, such Bills are referred to the joint committee of Parliament.
Know about: One Nation One Election
3. Zeenat: The Tigress
Why in News?
A three-year-old tigress, Zeenat, who was shifted from Maharashtra to Odisha’s Similipal Tiger Reserve, leaving forest officials worried. The tigress had strayed into Jharkhand and was likely moving towards West Bengal in defiance of conservation plans.
Highlights:
- Zeenat, who is just three years old, has been transferred from Maharashtra to the Similipal Tiger Reserve in Orissa.
- Zeenat- who has strayed from Tadoba-Andhari Tiger Reserve of Maharashtra into Jharkhand-is most likely making her way towards West Bengal.
4. Disease X
Context:
“Disease X” is defined by World health organization (WHO) as an unknown organism of potential global pandemic proportions.
Key Findings:
- In the year 2018, WHO prepared a priority list of pathogens that encompasses diseases with epidemic or pandemic potential, with available treatment countermeasures still insufficient or lacking.
- This list includes Ebola virus disease, Marburg disease, Lassa fever, Nipah virus, Rift Valley fever, Crimean-Congo hemorrhagic fever, Zika virus, and Disease X.
- Various possible biological culprits have been suggested, including viruses, bacteria, parasites, fungi, helminths, and prions.
- Historical data reflects this uncertainty:
- over 300 emerging infectious diseases recognized worldwide since 1940; around 70 percent have zoonotic origins.
- Zoonotic origin means a disease that originated in animals and can be transmitted to human.
- The increasing threat of antimicrobial resistance, bioterrorism and accidental laboratory leaks poses yet another layer of uncertainty.
5. Indian Air Force Clears Major Defence Contracts
Context:
Two major defense deals for 100 more K-9 Vajra artillery guns and 12 Sukhoi-30MKI fighter jets, collectively worth Rs 21,100 crore, have been cleared by the cabinet committee.
Highlights:
- A 100 K-9 Vajra self-propelled tracked gun systems contract worth Rs 7,600 crore was approved by the Cabinet Committee on Security (CCS).
- The 12 Sukhoi-30MKI fighter aircraft manufactured under Russian license for Rs 13,500 crores were also cleared by this committee.
K-9 Vajra
- It is a self-propelled tracked gun system used by the Indian Army.
- Development
- The K-9 Vajra was developed in India by Larsen & Toubro (L&T) in partnership with South Korea’s Hanwha Defense.
Sukhoi Su-30MKI (NATO name: Flanker-H)
- It is a two-seater, twinjet multirole air superiority fighter developed by Russian aircraft manufacturer Sukhoi and built under license by India’s Hindustan Aeronautics Limited (HAL)
6. India supports UNGA resolution on Gaza
Context:
With this, India makes its pronouncement as one of the 158 nations supporting the UNGA resolution demanding an immediate, unconditional, and total ceasefire in Gaza.
Key Highlight:
- The government also supports, the UN agency for Palestine refugees outlawed by Israel and receiving aid from India.
- India Draft resolution, nine members states, Israel and the US oppose it.
What is UNGA?
A United Nations General Assembly (UNGA) resolution is a decision or declaration that is voted by all the member states of the United Nations. UNGA resolutions are basically a formal statement that represent the international community’s opinion on a range of global issues.
The United Nations (UN)
The United Nations (UN) is an international organization that was established in 1945 after World War II to maintain international peace and security.
- Headquarter
- New York City.
- Members
- 193 Member Countries, 2 Observer Countries.
- Secretary General
- António Guterres
7. India-Middle East-Europe Corridor (IMEC)
Context:
In September 2023, the ambitious transcontinental India-Middle East-Europe Corridor (IMEC) was announced on the sidelines of the G20 summit in New Delhi.
Recent Updates on the Corridor:
- The Arab-Israel corridor project was stopped because of the increased fighting in the Israel-Palestine conflict.
- The key stakeholders, Saudi Arabia and Jordan, did not make progress because of this temporary pause.
- Implementation on the northern part of the corridor, primarily in West Asia.
Know more about: India-Middle East-Europe Economic Corridor Project
Banking/Finance
1. New Sovereign Green Bond (SGrB) Auction Was Successful
Context:
The ₹5,000 crore auction of the new Sovereign Green Bond (SGrB) of 30-year tenure sailed through on Friday.
Highlights:
- There were 98 competitive bids registered by the Reserve Bank of India, which amounted to ₹15,160 crore, along with three non-competitive bids aggregating to ₹1.351 crore.
- The central bank accepted 31 competitive bids aggregating ₹4,998.649 crore and non-competitive bids aggregating to ₹1.351 crore.
Know about: Green Bonds
Also read: Fund raises through Green Bonds
2. India’s retail inflation and food inflation
Context:
Food inflation has also eased marginally from 10.9% to 9.04% in November, rural consumers having reported a marginally higher rise of 9.1%, while the urban population recorded an 8.74% increase in food prices.
Highlights:
- This is the third consecutive month wherein food inflation has remained above 9%, while the overall consumer price increase has also remained above 5% for the same period.
- Vegetable inflation registered a fall from the 57-month high of 42.2% in October to 29.33%, while oils and fats inflation surged the fastest at 13.3% in the last two-and-a-half years.
Retail inflation
- It also known as consumer price inflation (CPI), measures the rate at which the prices of goods and services purchased by consumers increase or decrease over time.
Food Inflation
- Food inflation is the rise in the price of food commodities.
Also read: Inflation
Agri Business
1. Agrochemical sector to see higher growth: CRISIL
Context:
Agrochemical sector is set to see a higher growth rate next fiscal on stable domestic demand and recovery in export volumes, said CRISIL Ratings.
Key Highlights:
- Forecast of Growth:
- The agrochemical sector is expected to grow between 7-9 percent in the next fiscal after growing between 5-6 percent in this current fiscal.
- Domestic Market:
- Good monsoons and good reservoir levels have increased domestic demand for growth in agricultural output.
- Pricing Pressures:
- Ongoing competition by low-cost Chinese products is a major threat where it inhibits pricing and revenues overall.
- Capex: Capital expenditure will be reduced by less than 1x for the next two fiscals, as the companies would be more inclined to maintaining healthy balance sheets.
The Agrochemical Sector
The agrochemical sector is a part of the chemical industry’s life sciences segment, and it involves the production and distribution of fertilizers and pesticides to increase crop yields.
Agrochemical Sector includes:
- Production of pesticides, manures and other agricultural inputs.
- Empower, innovate, and research.
- Equip farmers with tools for adapting.
- The development goes with development in farming methods and environment-friendly agriculture.
Credit Rating Information Services of India Limited (CRISIL)
Credit Rating Information Services of India Limited, is an Indian analytical company providing ratings, research, and risk and policy advisory services and is a subsidiary of American company S&P Global.
2. ISMA asked government for advanced biofuel policies
Context:
The Indian Sugar and Bio-energy Manufacturers Association (ISMA) has urged the government to come out with advanced biofuel policies to take forward the current ethanol blending programme (EBP) beyond 2025.
Key Highlights:
- Suggestions include a subsidy plan of ₹35,000 crore for creation of further 770 crore liters capacity for ethanol production.
- Ethanol production capacity in India is 1,683 crore litres, which is beyond sufficient to implement a blend of 20%.
- ISMA’s vision beyond E20 would be found flexibility in the use of ethanol:
- The use of E100 (hydrous ethanol) in combination with the current E20 blend and adoption of advanced technologies.
- GST on FFV would be lowered to 5%.
- ISMA pitches for investment in sustainable aviation fuels, 2G ethanol production, and ethanol to hydrogen conversion.
- The industry body recommends approval to establish ethanol pumps for sugar biorefineries through Biocentres.
The Ethanol Blended Petrol (EBP) Programme is a government initiative to increase the amount of ethanol blended with petrol in India:
- Goals:
- Blending 10% ethanol with petrol by 2021-22
- Blending 20% ethanol with petrol by 2025
What is Ethanol blending?
- It is the process of mixing ethanol with gasoline to reduce the use of fossil fuels.
What is ethanol?
- Ethanol is a renewable biofuel that’s a byproduct of processing sugarcane, rice husk, or maize. It’s also known as ethyl alcohol.
Also Read: India shortens down its target for ethanol blending
3. India’s Steel Ministry defines Green Steel
- Steel is defined by carbon emissions in tonnes per metric tonne of alloy produced
- Steel which has less than 2.2 tonnes of emissions: “green steel”
Less than 1.6 tonne of emissions per tonne:- Five-star green-rated steel
- 2 – 2.2 tonnes per tonne
- Three-star green-rated steel steel with emission between
- India, being the world’s second largest producer of steel, is working on a green steel policy to de-carbonize procurement and production.
Know about: green steel policy
4. Draft: National Policy Framework on Agricultural Marketing
Context:
The Ministry of Agriculture and Farmers Welfare has come up with a draft ‘National Policy Framework on Agricultural Marketing‘ to obtain public comments.
Aim of the Policy:
One aim of the policy is to liberalize the marketing restrictions while considering all interested parties, which include farmers and consumers. The draft policy calls for conducting trade in agricultural produce under a uniform barrier-free environment pan-India.
Key Highlights:
- Enhanced reach of the farmer-consumer market, grameen haats as Grameen Agricultural Markets, strengthening precision facilities for agri-processing and even export are some suggestions given in the draft policy.
- Gramin Agricultural Markets (GrAMs) are village-level markets in India that help farmers sell their produce locally and nationally
- Gramin Agricultural Markets (GrAMs) are upgraded versions of the 22,000 rural haats in India that were announced in the 2018-19 Union Budget.
- Beyond APMC Marketing-Hubs Additional Statutes Calls for Consolidation and Expansion of e-NAM to Public and Private Purchase Centres and Grameen Haats.
- In addition, increased private sector participation, preferably in public-private partnership mode, needs to be encouraged to fill the infrastructure gap in APMC markets.
Agricultural Produce Market Committees (APMCs) in India
- APMCs are marketing boards for agriculture involving animal farming set up by the respective states.
- Functions
- protection of farmers, price regulation, infrastructure development, and malpractice containment.
- APMCs control the first sale of notified agro-commodities and wholesale selling.
- They handle market area of warehouses, silos, pack houses.
- Amenities provided by APMCs include auction halls, weigh bridges, godowns, shops, canteens, roads, lights, drinking water, police stations, and post offices.
5. Parliamentary panel moots hike in MGNREGA wages
Know about: Mahatma Gandhi National Rural Employment Guarantee Act ( MGNREGA )
Also read: MGNREGA work demand up 4% as farm sowing ends
Facts to Remember
1. RTI award for Kerala
Kerala has been recognised as a leader in Kerala has been recognised as a leader in transparency, public accountability and dissemination of information, Chief Information Commissioner Hiralal Samariya said.
Right to Information
The Right to Information (RTI) is a law in India that gives its citizens the right to access information held by public authorities.
- The information should be provided within 48 Hours.
- Constitutional Provision
- Article 19(1)
