Ten relevant news updates from across the world, useful for examinations
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Headlines - 24 - 06 - 2021
- Defence and Military - Krivak Stealth Frigates - The Vice-Chief of the Naval Staff inaugurated the construction of the second frigate of the Krivak or Talwar class. The construction of the first ship was started in January, 2021, and would be delivered in 2026 (and the second ship after six months). The Krivak class stealth ships are being built with technology transfer from Russia by Goa Shipyard Ltd. (GSL) under ‘Make in India’. Engines for the ships are supplied by Ukraine. In October 2016, India and Russia signed an Inter-Governmental Agreement (IGA) for four Krivak or Talwar stealth frigates. The first two frigates will be built in Yantar Shipyard, in Kaliningrad, Russia, and the following two will be built in GSL. The new Krivak frigates will have the same engines and armament configuration as Yantar’s last three frigates – INS Teg, Tarkash and Trikand. These will be armed with BrahMos anti-ship and land attack missiles. Accomplish a wide variety of naval missions such as finding and eliminating enemy submarines and large surface ships.
- Governance and Institutions - Electronic weighing machines at FPS - The Central Government has asked the States to buy electronic weighing machines for ration shops from electronic Point of Sale devices (ePoS) savings. The Ministry of Consumer Affairs has amended the Food Security (Assistance To State Government Rules) 2015 to encourage the states to generate savings through judicious use of e-PoS devices. The integration of ePoS devices with electronic weighing scales will ensure the right quantity to beneficiaries being covered under the National Food Security Act (NFSA), 2013. It will ensure greater transparency in the Public distribution system (PDS) regime, and reduce food grain leakages. Ther National Food Security Act (NFSA), 2013 was enacted to provide for food and nutritional security in the human life cycle approach, by ensuring access to adequate quantities of quality food at affordable prices. Nearly 75% of the rural population and upto 50% of the urban population for receiving subsidized foodgrains under Targeted Public Distribution System (TPDS).
- Science and Technology - Delta variant of coronavirus - The supercontagious Delta variant of the coronavirus is responsible for about 1 in 5 COVID-19 cases in the US. While Delta may account for an increasing percentage of cases, it is not yet clear whether it will drive the total number of cases higher. Delta is one of the “Variants of Concern” (VoC), as designated by the Centers for Disease Control and Prevention and the World Health Organization. First identified in India, Delta was later reported in 80 countries. It is now the most common variant in India and Britain. Delta variant, formerly known as B.1.617.2, is believed to be the most transmissible variant yet, spreading more easily than both the original strain of the virus and the Alpha variant first identified in Britain. People infected by the Delta variant were roughly twice more likely to be hospitalized than those infected with Alpha. The variant may partially evade the antibodies made by the body after a coronavirus infection or vaccination. It may render certain monoclonal antibody treatments less effective. Impact of Vaccine - The Delta variant is unlikely to pose much risk to people who have been fully vaccinated. However, the protection offered by a single dose appears low, and if a person is not at all vaccinated, they are at high risk.
- Education - National Institute for Open Schooling - Minister of State for Education Shri Sanjay Dhotre launched NIOS Diploma course in Yogic Science on the occasion of International Day of Yoga. The National Institute of Open Schooling (NIOS) was formerly known as National Open School. What is it? It is the National board of education under the Government of India that administers examinations for Secondary and Senior Secondary examinations similar to the CBSE and the CISCE. It also offers vocational courses after the high school. NIOS is an autonomous institute under Union Ministry of HRD. It operates through a network of five Departments, Regional Centres and Accredited Institutions (Study Centres) in India and abroad. It has a current enrolment of about 2.71 million students at Secondary, Senior Secondary & Vocational levels which makes it the largest open schooling system in the world.
- World Economy - EU acting more like the Federal Reserve - The European Union (EU) conducted the first funding operation for its Next Generation EU programme, raising €20bn ($24.2bn) through the sale of a ten-year bond, the largest amount the EU has raised in a single transaction. The bloc wants to tap €800bn in capital markets by the end of 2026 to finance the recovery fund. By acting as one, the EU is ensuring that the euro is taken far more seriously than otherwise.
- World Economy - Tax claims via Saint Vincent and the Grenadines - The Union Cabinet approved an Agreement between India and Saint Vincent and The Grenadines for the Exchange of Information and to provide assistance to each other in collection of tax claims. This is a new agreement and there was no such agreement in the past. It also contains tax examination abroad provisions which provide that a country may allow the representatives of the other country to enter its territory to interview individuals and examine records for tax purposes. St. Vincent and the Grenadines is a southern Caribbean nation comprising a main island, St. Vincent, and a chain of smaller islands. The main island is home to the capital, Kingstown. The northern two-thirds of the chain, including about 32 islands and cays, are part of the country of Saint Vincent and the Grenadines. The southern third of the chain belongs to the country of Grenada.
- Indian Economy - DoT liberalises norms for OSPs - The Department of Telecommunication (DoT) has further liberalized the guidelines for Other Service Providers (OSPs). These are business process outsourcing (BPO) organisations giving voice based services, in India and abroad. The guidelines further liberalized the special dispensation given to OSPs in addition to the major measures already announced and implemented in November, 2020. The main features of the liberalised guidelines are: (i) Distinction between Domestic and International OSPs has been removed. A BPO centre with common Telecom resources will now be able to serve customers located worldwide including in India, (ii) The EPABX (Electronic Private Automatic Branch Exchange) of the OSP can be located anywhere in the world. OSPs apart from utilising EPABX services of the Telecom Service Providers can also locate their EPABX at third Party Data Centres in India. With this, the interconnectivity between all types of OSP centres is now permitted. The Remote Agents of OSP can now connect directly with the Centralised EPABX/ EPABX of the OSP/ EPABX of the customer using any technology including Broadband over wireline/ wireless.
- People and Personalities - Lina Khan has arrived - Big tech companies are to face a formidable foe at the Federal Trade Commission, where Lina Khan has been appointed chairwoman. Just 32 years old, Ms Khan is a professor at Columbia University Law School and has written extensively on reforming antitrust law. She was a counsel to the congressional committee that drafted a report forming the basis of the bills in the House. Meanwhile, five bills were introduced in America’s House of Representatives that aim to curb the power of big tech companies by prohibiting a dominant platform from promoting its products over others and barring the use of takeovers to smother competition. The most ambitious overhaul of antitrust law in decades would affect all firms, but is directed at Apple, Amazon, Facebook and Google. The bills face a long journey through Congress.
- Indian Economy - Tax Inspectors Without Borders (TIWB) - The Tax Inspectors Without Borders (TIWB), a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), launched its programme in Bhutan. India was chosen as the Partner Jurisdiction and has provided the Tax Expert for this programme. It is expected to be of about 24 months’ duration through which India in collaboration with the UNDP and the TIWB Secretariat aims to aid Bhutan in strengthening its tax administration by transferring technical know-how and skills to its tax auditors, and through sharing of best audit practices. The focus of the programme will be in the area of International Taxation and Transfer Pricing.
- Indian Politics - Covid Update - (a) India reported 54,069 new COVID-19 cases and 1,321 deaths in past 24 hours. This is the second straight day when the country witnessed a rise in the number of cases. India reported 50,848 COVID-19 cases and 1,358 deaths on Wednesday. With this, the total number of cases reached 3,00,82,778 and the death toll surged to 3,91,981. (b) All the state boards except that of Andhra Pradesh agree to cancel the board examination in view of pandemic. They told SC they will formulate separate scheme for evaluation of students. Supreme Court directed all State Boards to notify the scheme for assessment within 10 days from today and declare the internal assessment results by July 31, like the timeline specified by it for CBSE and ICSE. (c) An analysis by Public Health England (PHE), where the Delta variant is more widespread, found that both the Pfizer/BioNTech and AstraZeneca vaccines provide more than 90% protection against hospitalization from the Delta variant.
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