US-India Strategic Clean Energy Partnership (USISCEP)

Paper 2 –International Relations

From the point of view of mains examination:

Question: In order to be in harmony with nature, we have to adopt renewable energy, for this what important steps India has taken recently, describe in detail?

Why Should You Know?

On 7 October 2022 US-India Strategic Clean Energy Partnership (USISCEP) ministerial talks to be held

In details –

• Shri Hardeep S. Puri, Minister of Petroleum and Natural Gas & Housing and Urban Affairs, will lead an official and business delegation to Washington DC and Houston,  USA, from 6-11 October 2022.
• In Washington DC, Hon’ble Minister will co-chair the Ministerial dialogue of US-India Strategic Clean Energy Partnership (USISCEP), to be held on 7th October 2022with HE Ms. Jennifer Granholm, Secretary of Energy,USA.
• Hon’ble Minister will interact with World Bank Officials on Climate Resilient Urban Infrastructure. He will also participate in two executive roundtableswith USA India Business Council in Washington D.C. and with USA India Strategic Partnership Forum in Houston.
• Hon’ble Minister will also hold discussions with CEOs of US based energy companies.

About US-India Strategic Clean Energy Partnership

• The revamped USISCEP was launchedin accordance with U.S.-India Climate and Clean Energy Agenda 2030 Partnership announced by Hon’ble Prime Minister Shri Narendra Modi and H.E. President Joe Biden at the Leaders’ Summit on Climate held in April 2021.
• The revitalized SCEP emphasises on electrification and decarbonization of processes and end uses, scaling up and accelerating deployment of emerging clean energy technologies, and finding solutions for hard-to-decarbonize sectors.
• The partnership continues to advance energy security and innovation; scaling up emerging clean energy technologies; and deploying technical solutions through 5 pillars:
• Responsible Oil and Gas Pillar
• Power and Energy Efficiency Pillar
• Renewable Energy Pillar
• Sustainable Growth Pillar
• Emerging Fuels and technologies.

Report of the ‘Expert Committee on Sustainable Finance’

Paper 3 – Economy

From the point of view of mains examination:

Question: The Expert Committee on Sustainable Finance has recently submitted its report to the International Financial Services Canter Authority, mentioning the main points of this report, also discuss about the International Financial Services Canter Authority.

Why Should You Know?

Recently Committee of Experts on Sustainable Finance submited report to IFSCA

In details

• A ‘Committee of Experts on Sustainable Finance’, constituted by International Financial Services Centres Authority (IFSCA) submitted its final report to Chairperson, IFSCA on October 03, 2022.
• The committee was chaired by Shri C.K. Mishra, Former Secretary to Government of India, Ministry of Environment, Forest & Climate Change. The committee members comprised of leaders and experts from the entire sustainable finance ecosystem including national and international institutions
• The main focus areas of the committee were directed towards aligning the IFSC regulations with the international best practices, exploring ways in which capital flows through IFSC can be enhanced and also support development of innovative financial products in the area of green and sustainable finance.

Recommendation

• The committee has provided its recommendation on various aspects of sustainable finance including products, policies and regulations, capacity building and outreach initiatives related to green and sustainable finance.
• Some important recommendations include developing a voluntary carbon market, framework for transition bonds, enabling de-risking mechanisms, promoting regulatory sandbox for green fintech and facilitating the creation of a global climate alliance among others.
• Considering the significance of the MSME sector in the economic development of the country, the committee also proposes setting up of a dedicated MSME platform for sustainable lending.
• The committee recommends to facilitate the use of innovative instruments such as catastrophe bonds, municipal bonds, green securitisation, blended finance among others.
• Focusing on the need to enhance capital flows in IFSC, the committee endorses the need to enable aggregation facilities, impact funds, green equity etc. in IFSC.
• In addition to the above, it recommends IFSCA to play a vital role in capacity building which lays the foundation for greening the financial system.

About International Financial Services Centres Authority

• The International Financial Services Centres Authority (IFSCA) has been established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019. It is headquartered at GIFT City, Gandhinagar in Gujarat.
• As the dynamic nature of business in the IFSCs requires a high degree of inter-regulatory coordination within the financial sector, the IFSCA has been established as a unified regulator with a holistic vision in order to promote ease of doing business in IFSC and provide world class regulatory environment.
• The main objective of the IFSCA is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region and the global economy as a whole.
• Notebly, India’s first International Financial Services Center (IFSC) has been set up in Gandhinagar, Gujarat. Presently the banking, capital markets and insurance sectors in IFSC are regulated by several regulators, namely RBI, SEBI and IRDAI.

“Sirimanothsavam” Festival

Paper 1 – Art & Culture

From the point of view of mains examination:

Question: In Indian culture, the ‘Sirimanothsavam’ festival is a living example of the faith of the people, explain.

Why Should You Know?

The annual Sirimanotsavam will be organized in Vizianagaram in Andhra Pradesh on October 11. Let’s know about this festival

In details –

• Sirimanothsavam,is also referred to as SirimanuUthsavam, Siri Manu Fete/Festival, SirimanuPanduga.
• It is a festival organized to propitiate Goddess Pyddithallamma of Vizianagram Town.
• Siri means “goddess Lakshmi in other words wealth and prosperity ” and manu means “trunk” or “log”.
• The priest of the temple, while taking procession between the fort and temple three times in the evening, hangs from the tip of the long, lean wooden staff (measuring 60 feet), raised high into the sky.
• The priest possessed by the goddess would himself tell a few days before, where this manu would be available. It is from that place only the log has to be procured.
• Hanging from the upper end of the staff, which is raised high into the sky, is a very risky exercise, but it is believed that the grace of the Goddess protects the priest from falling off.
• It is held in the month of September or October (Dasara) of every year. It is a great carnival attended by two to three lakhs of people from the neighboring towns and villages.
• The Rajas of Vizianagaram oversee the arrangements for this event. The APSRTC runs about 250 buses from different parts of the state to facilitate transport of devotees to Vizianagram to attend this festival.

Procession

• Sirimanu Utsav is being celebrated every year on the first Tuesday following Vijayadasami. Sirimanu means a big trunk.
• It is believed that approximately 15 days before Sirimanu Utsav, goddess Pydimamba would come in the dream of temple Pujari and tell him where the Sirimanu for that year could be found.
• Pujari would go in search of Sirimanu and will cut the Sirimanu after performing traditional puja.
• That Sirimanu can be located anywhere. The owner must agree to cut his tree for Utsav. That tree will be shaped neatly into Sirimanu and will be placed over the chariot.
• This Sirimanu will be brought to the Three Lanters junction around 2:00 pm. Temple Pujari will pay obeissance to the Goddess before taking his seat on the Sirimanu chariot.
• This sirimanu will move 3 times between Vizianagaram fort and Pydimamba temple between 3:00 pm to 4:00 pm.
• There will be a chariot in the shape of White elephant in front of Srimanu. The Vizianagaram Rajahs will sit in the front Tower of the fort and watch the Utsav. Pujari will be presented with new clothes by Rajas and puja is performed.

G-20 Parliamentary Speakers Summit (P20)

Paper 2 – International Relations

From the point of view of mains examination:

Question: India is constantly making its presence felt to strengthen democracy in global politics, explain it in the light of the recently held G-20 Parliamentary Speakers’ Summit (P20).

Why Should You Know?

The 8th Summit (P-20) of Speakers of Parliaments of G-20 countries is being held in Jakarta, Indonesia.

In details

• The 8th G-20 Parliamentary Speakers’ Summit (P20) is being held in Jakarta, Indonesia on 6 and 7 October 2022.
• Lok Sabha Speaker of India Shri Om Birla leads the Indian Parliamentary Delegation.It includes Deputy Chairman of Rajya Sabha Harivansh, Secretary General of Rajya Sabha PC Modi and other officials.
• The P20 summit is being organized by the House of Representatives of the Republic of Indonesia and the Inter-Parliamentary Union (IPU).
• The Theme of this summit is : “Effective Parliament, Vibrant Democracy”.
• It is noteworthy that the organization of the parliaments of G-20 countries is P-20. It represents 80 percent of the world’s GDP and 75 percent of trade. It also represents two-thirds of the world’s population.

About the G20

• The G20 is a formal organization of 20 major economies of the world, including 19 countries and 1 European Union.
• The G-20 is seen as an extension of the G-7, a group of the world’s most powerful countries. The G-7 comprises France, Germany, Italy, Japan, the UK, the US and Canada.  In 1998, the group also joined Russia and it became G-8 from G-7.
• Russia was separated from the group in 2014 due to the annexation of Ukraine’s Crimea region and once again became the G-7.  In 1999, the G-8 countries met in Cologne, Germany, in which asia’s economic crisis was discussed.
• After this, it was decided to bring the countries with twenty powerful economies of the world on one platform. In December 1999, the G-20  group met for the first time in Berlin. Later, the G-8  was recognized as a political and the G-20 as an economic forum.

Significance

• The G20 is composed of most of the world’s largest economies, including both industrialized and developing nations, and accounts for around 80% of gross world product (GWP), 75–80% of international trade,
• Two-thirds of the global population,and roughly half the world’s land area.

Function

• It works to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.
• The G20 does not have a permanent secretariat or Headquarters. Instead, the G20 president is responsible for bringing together the G20 agenda in consultation with other members and in response to developments in the global economy.
• The G20 Presidency rotates annually according to a system that ensures a regional balance over time. Every year when a new country takes on the presidency, it works hand in hand with the previous presidency and the next presidency and this is collectively known as TROIKA.

Member Countries

• USA, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa,  South Korea, Turkey, the United Kingdom and the European Union.
• Spain is a permanent guest who is specially invited every year. Every year, in addition to Spain, g20 guests include the president of ASEAN countries including two African countries (president of the African Union and representative of the New Partnership for Africa’s Development) and one country (sometimes more than one)  invited by the president of the G20.

Fifth meeting of the International Solar Alliance

Paper 3 – Energy Resources

From the point of view of mains examination:

Question: Solar energy is not only necessary for the environment but it can also prove to be an important component of the economy, explain this statement in the context of International Solar Alliance.

Why Should You Know?

The fifth meeting of the International Solar Alliance will be held in New Delhi from October 17 to 20.

In details

• International Solar Alliance’s Fifth Assembly will be held in New Delhi from 17th to 20th October. Power and New and Renewable Energy Minister R.K Singh will preside over the Assembly.
• He unveiled the curtain raiser to the Fifth Assembly of the International Solar Alliance on  October 6. He said India’s pace of Energy Transition is the fastest in the world and International Solar Alliance is absolutely essential for the planet’s goal of Energy Transition.
• The Assembly is the apex decision-making body of ISA, in which each Member country is represented. It meets annually at the ministerial level and assesses the aggregate effect of the programmes and other activities in terms of deployment of solar energy and performance among others.
• India holds the office of the President of the ISA Assembly. Ministers, missions, and delegates from 109 Member and Signatory Countries will participate in this meeting.

About International Solar Alliance

• The International Solar Alliance (ISA) is an alliance of 121 signatory nice countries, most being sunshine countries, which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn.
• The primary objective of the alliance is to work for efficient consumption of solar energy to reduce dependence on fossil fuels.
• This initiative was first proposed by Indian Prime Minister Narendra Modi in a speech in November 2015 at Wembley Stadium, in which he referred to sunshine countries as Suryaputra (“Sons of the Sun”).
• The alliance is a treaty-based inter-governmental organization. Countries that do not fall within the Tropics can join the alliance and enjoy all benefits as other members, with the exception of voting rights.
• The initiative was launched by Prime Minister Narendra Modi at the India Africa Summit, and a meeting of member countries ahead of the 2015 United Nations Climate Change Conference in Paris in November 2015.
• The framework agreement of the International Solar Alliance opened for signatures in Marrakesh, Morocco, in November 2016, and 102 countries have joined.
• The ISA is headquartered in Haryana, India. In January 2016, Narendra Modi, and the then French President François Hollande jointly laid the foundation stone of the ISA Headquarters and inaugurated the interim Secretariat at the National Institute of Solar Energy (NISE) in Gwal Pahari, Gurugram, India.

Objective

• The International Solar Alliance (ISA) is an action-oriented, member-driven, collaborative platform for increased deployment of solar energy technologies as a means for bringing energy access, ensuring energy security, and driving energy transition in its member countries.
• The ISA strives to develop and deploy cost-effective and transformational energy solutions powered by the sun to help member countries develop low-carbon growth trajectories, with particular focus on delivering impact in countries categorized as Least Developed Countries (LDCs) and the Small Island Developing States (SIDS).
• Being a global platform, ISA’s partnerships with multilateral development banks (MDBs), development financial institutions (DFIs), private and public sector orgnaisations, civil society and other international institutions is key to delivering the change its seeks to see in the world going ahead.

Nobel Prize for Literature-2022

Paper 2- International Issues

From the point of view of mains examination:

Question: Explaining the statement ‘Literature is a weapon without a tip, which inflicts deep injury’, explain the recent Nobel Prize in Literature.

Why Should You Know?

The Nobel prize in literature 2022 has been awarded to Annie Ernaux.

In details

• French writer Annie Ernaux has been awarded the Nobel Prize in Literature for 2022. According to the Nobel Committee, ‘Annie has been chosen for the Nobel for her courage and moral precision to dig into the roots of her memories, to uncover social restrictions.’
• It is noteworthy that last year the Nobel Prize in Literature was given to Tanzanian-born British novelist AbdulrajakGurnah. He was the second black African author to win the award since 1986 award winner Wole Soyinka, and 19

Who is Annie Ernaux?

• French writer Anne Enaux was born in 1940 and grew up in the small town of Yvette in Normandy. His parents had a grocery store and cafe.
• She was ambitious since childhood. In her writings, Annie continued and in various ways, wrote on inequalities based on gender, language, and class. His journey of writing was long and difficult.
• Annie Arnoux’s first novel was Les Armoires Vaudes, published in 1974, but she gained international recognition after the 2008 publication of Les Annies, which was translated The Years in 2017.

About Nobel Prize in Literature

• The Nobel Prize in Literature is a Swedish literature prize that is awarded annually, since 1901, to an author from any country who has, in the words of the will of Swedish industrialist Alfred Nobel, “in the field of literature, produced the most outstanding work in an idealistic direction”
• Though individual works are sometimes cited as being particularly noteworthy, the award is based on an author’s body of work as a whole.
• The Swedish Academy decides who, if anyone, will receive the prize. The academy announces the name of the laureate in early October.
• It is one of the five Nobel Prizes established by the will of Alfred Nobel in 1895. Literature is traditionally the final award presented at the Nobel Prize ceremony.
• The prize money is 10 million Swedish crowns ($915,000) and will be presented on 10 December in Stockholm, the capital of Sweden.

WHO alert on Cough Syrup

Paper 2 – Health

From the point of view of mains examination:

Question: WHO has recently issued an alert on cough syrup made in India, clarifying this whole matter; also tell us what efforts should be made to deal with such challenges in future?

Why Should You Know?

Recently The World Health Organization (WHO) has issued an alert regarding a cough-cold syrup made by Maiden Pharmaceutical Limited of India.

In details

• The Central Drugs Standard Control Organization (CDSCO) has ordered an investigation after the World Health Organization issued an alert against 4 cough syrups manufactured in India.
• It is worth noting that in the case of the death of 66 children in the African country of Gambia, 4 cups of syrup made in India are being considered as possible responsible.
• The World Health Organization (WHO) has issued an alert recenlty regarding a cough-cold syrup made by Maiden Pharmaceutical Limited of India. After the death of 66 children in The Gambia, the WHO has advised not to use it.
• According to the information received, four syrups include Promethazine Oral Solution, KofexMalin Baby Cough Syrup, Makoff Baby Cough Syrup and Magrip N Cold Syrup. and all of them are manufactured by Haryana based Maiden Pharmaceutical.
• The World Health Organization has issued an alert saying that so far Medan Company has not guaranteed the safety and quality of these products. 4 Lab testing of product samples confirms that they contain unacceptable amounts of diethylene glycol and ethylene glycol.
• In this matter, the Central Government said, “CDSCO, responding to WHO, took up the matter with the concerned State Regulatory Authority within one and a half hours, under whose jurisdiction the drug manufacturing unit is located.
• Facts in the matter in collaboration with the State Drug Controller, Haryana. Or investigation has been initiated to ascertain the details.

Lethal effect

• Significantly, the consumption of diethylene glycol and ethylene glycol can prove to be fatal.
• Abdominal pain, vomiting, diarrhea, inability to urinate, headache, altered mental status, and kidney problems may occur due to the effects of this drug. Also life can be lost.
• The World Health Organization has stated that all batches of the product should be considered unsafe until they are properly tested by the relevant national regulatory authorities.

Gati Shakti Portal

Paper 3–Infrastructure

From the point of view of mains examination:

Question: It is necessary for the economy to be strong, but more important than that, the economy should be moving, how will the Central Government’s Gatishakti project play a role in this?

Why Should You Know?

Recently Gujarat launched Gati Shakti Portal.

In details

• The Government of Gujarat has lunched the Gati Shakti Portal. With this, it has become the first state in the country, where Gati Shakti Portal has been launched.
• Gujarat Chief Minister Bhupendra Patel has launched the portal. The portal is an integration of 21 government departments, 52 sub-departments and more than 500 layers of data, done under Gati Shakti.
• The portal has been developed by Gujarat Infrastructure Development Board in collaboration with Bhaskaracharya National Institute for Space Applications and Geo-informatics.
• The portal will provide ease of doing business to the investors by bringing more transparency in governance. This will save time, money and logistics cost.

What is PM Gati-Shakti Yojana?

• Gati Shakti is a multi-modal connectivity master plan of the Central Government. Under which the government will bring all the departments of the government on one platform.
• So that the progress of the country can be accelerated and all the departments can work together.
• So that there is no delay in any work and all the projects are completed quickly.
• This is the biggest master plan of the government till date. Under this, the government will spend Rs 100 lakh crore.

Emergency Credit Line Guarantee Scheme

Paper 3 –Economy

From the point of view of mains examination:

Question: The Emergency Credit Line Guarantee Scheme is addressing the weakness of the economy that has arisen after Kovid-19, do you completely agree with this argument?

Why Should You Know?

Recently DFS modified Emergency Credit Line Guarantee Scheme (ECLGS) to give Civil Aviation sector necessary collateral-free liquidity at reasonable interest rates to tide over their present cash flow problems

In details –

• Recognising that an efficient and strong civil aviation sector is vital for the economic development of the country, the Department of Financial Services (DFS), Ministry of Finance, has modified the Emergency Credit Line Guarantee Scheme (ECLGS)
• To enhance the maximum loan amount eligibility for airlines under ECLGS 3.0 to 100% of their fund based or non-fund-based loan outstanding as on the reference dates or Rs. 1,500 crore, whichever is lower; and of the above, Rs. 500 crore shall be considered, based on equity contribution by the owners.
• All other criteria terms and conditions parameters prescribed under the operational guidelines of the ECLGS on 30.8.2022 shall be applicable as it is.
• The modifications introduced are aimed to give necessary collateral-free liquidity at reasonable interest rates to tide over their present cash flow problems.
• Earlier in March 2022, the Emergency Credit Line Guarantee Scheme (ECLGS) was extended beyond March 2022, till March 2023, to implement the announcement made in the Union Budget 2022-23 by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman.
• Keeping in view the high proportion of non-fund based credit in the overall credit of the civil aviation sector, the eligible borrowers were permitted to avail up to 50% of their highest total fund and non-fund based credit outstanding, subject to a maximum of Rs. 400 crore per borrower.

About ECLGS

• The Emergency Credit Line Guarantee Scheme (ECLGS) has been formulated as a specific response to the unprecedented situation caused by COVID-19 and the consequent lockdown, which has severely impacted manufacturing and other activities in the MSME sector.
• The Scheme aims at mitigating the economic distress being faced by MSMEs by providing them additional funding of up to Rs. 5 lakh crore in the form of a fully guaranteed emergency credit line.
• The main objective of the Scheme is to provide an incentive to Member Lending Institutions (MLIs), i.e., Banks, Financial Institutions (FIs) and Non-Banking Financial Companies (NBFCs) to increase access to, and enable availability of additional funding facility to MSME borrowers, in view of the economic distress caused by the COVID-19 crisis, by providing them 100 per cent guarantee for any losses suffered by them due to non-repayment of the GECL funding by borrowers.

First training squadron at kuwait

Paper 2 – International Relations

From the point of view of mains examination:

Question: In the light of India’s political and economic ties with the Middle East, mention the factors that led to the continued strengthening of India’s military and maritime relations with Kuwait.

Why Should You Know?

Recently three ships of the First Training Squadron arrived in Kuwait

In details

• The ships of First Training Squadron (1TS) comprising  INS Tir, Sujata and CGS Sarathi arrived at Port Al-Shuwaikh, Kuwait on 04 Oct 22.
• The ships are deployed in the Persian Gulf as part of their training deployment.
• The ships were accorded a warm welcome by senior officers of the Kuwaiti Naval forces, Border Guard and the Embassy of India officials besides school children.
• The three-day port call includes professional engagements, cross ship visits, community outreach and social interactions.
• The ships of 1TS, based at Kochi, are part of the Southern Naval Command, Indian Navy’s Training Command.

Objective

• The deployment of 1TS is aimed at exposing the trainees towards conduct of various evolutions at sea and port familiarisation.
• The present deployment also provides an opportunity in exposing the trainees to the sociopolitical, military and maritime linkages of India with friendly countries in our maritime neighbourhood.