Ten relevant news updates from across the world, useful for examinations
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Headlines - 27 - 07 - 2021
- Science and Technology - I-STEM project extended by 5 years - The I-STEM project was extended by five years until 2026, and entered its second phase with added features. The Indian Science Technology and Engineering facilities Map (I-STEM) is the national web portal for sharing R&D facilities, and was formally launched in January 2020. The I-STEM (www.istem.gov.in) is an initiative of Office of the Principal Scientific Adviser to the Govt. of India (PSA, GOI) under the aegis of PM Science, Technology and Innovation Advisory Council (PM-STIAC) mission. The goal is to strengthen the R&D ecosystem of the country by connecting researchers with resources, in part by promoting technologies and scientific equipment development indigenously, and providing necessary supplies and supports to researchers by enabling them an access to existing publicly funded R&D facilities. Under Phase II, the portal will host indigenous technology products listed through a digital catalogue. The portal will also provide a platform for the various City Knowledge and Innovation Clusters.
- Indian Economy - Agriculture exports make India reach top 10 - India entered the top 10 list of the countries exporting agricultural produce in the year 2019 with a sizable share in the export of rice, cotton, soya beans and meat. As per a World Trade Organization (WTO) report on the trends in world agricultural trade in the past 25 years, India and Mexico with 3.1% and 3.4% share in global Agri exports, respectively, replaced New Zealand (9th) and Malaysia (7th) as the largest exporters. The United States of America (USA), which topped the list in 1995 with 22.2% share of world Agri export, was overtaken by the European Union (EU) in 2019 with 16.1% global Agri share. The top exporting nations of rice in 1995 were Thailand (38%), India (26%), and the US (19%). In 2019, India with a lead of 33% overtook Thailand (20%) to top the list, while Vietnam (12%) overtook the US and climbed to the third spot. India is also the third-largest cotton exporter (7.6%), and the fourth-largest importer (10%) in 2019. In the largest traded Agri product, soya beans, India (0.1%) has a meagre share, but was ranked ninth in the world. In the “meat and edible meat offal” category, India secured 8th rank in the world with a global share of 4%. India’s share of foreign value-added content in its Agri exports clocked 3.8% share primarily due to high tariffs on Agri imports to boost the domestic markets and local farmers.
- World Politics - A new Quad emerging - The US, Pakistan, Afghanistan, and Uzbekistan have formed a new Quad Group, in order to enhance regional connectivity. The announcement of setting up the group was made by the US State Department. The other Quad group already existing consists of Australia, India, Japan, and the US. That was created to build a new security architecture for Asia and the Indo-Pacific, and is getting renewed support from India, in the aftermath of the LAC skirmish with China.
- People and Personalities - Mirabai Chanu bags silver - On 24th July, 2021 Mirabai Chanu of India clinched a silver medal in weightlifting in the 49kg category in Tokyo 2020 Olympics, ending a 21 year drought of winning a medal in this category. Mirabai lifted a total of 202kg (87kg+115kg) to win the silver, and bettered the record of Karnam Malleswari who had won a bronze medal in the 2000 Sydney Olympics. The gold was won by China’s Hou Zhihui who lifted a total of 210kg, while Indonesia’s Aisah Windy Cantika won the bronze medal with a total of 194kg. In her first snatch attempt Mirabai Chanu attempted 84kg. She followed it by lifting 87kg in her next attempt and then raised the weight to 89kg. Gold medal winner Zhihui created a new Olympic record with an effort of 94kg. The Chinese lifter also holds the world record with 96kg in this category. In the clean jerk round, Mirabai Chanu who is this sections world record holder, in her first two attempts lifted 110kg and 115kg respectively. She, however, couldn’t raise it to 117kg in her final attempt but it was enough to win silver and earn a podium finish.
- Indian Economy - PLI Scheme For Specialty Steel - The Cabinet approved the Production-Linked Incentive (PLI) scheme (Central Sector Scheme) for manufacturing Speciality Steel (SS) with a budgetary outlay of Rs 6,322 crore over a period of five years from 2023-24. It is value-added steel, which is made by processing normal finished steel. It is made by converting normal finished steel into high value-added steel by way of coating, plating and heat treatment. Apart from the automobile sector and specialised capital goods, they can be used in various strategic applications such as defence, space, power etc. SS are categorized in various types such as, coated/plated steel products, high strength/wear resistant steel, speciality rails, alloy steel products and steel wires, electrical steel etc. The scheme invites foreign companies to set up units in India, and also aims to encourage local companies to set up or expand existing manufacturing units and also to generate more employment. It aims to cut down the country’s reliance on imports from other countries. It was launched in April 2020, for the Large Scale Electronics Manufacturing sector, but later towards the end of 2020 was introduced for 10 other sectors.
- Governance and Institutions - Centre to invest Rs 324 crore to expand lab testing infrastructure - 42 virology research and diagnostic laboratories will be set up by the Central government. This will be set up under a central scheme during the period of 2021-22 to 2025-26, at a cost of Rs.324 crore. The scheme falls under the Department of Health Research (DHR) of the Indian Council of Medical Research (ICMR). The primary aim is to help boost the coverage of timely identification and diagnosis of viruses during an epidemic outbreak. This scheme will also look into boosting generation of data about all the viral diseases so that resources can be quickly deployed and measures taken to save human lives. The Expenditure Finance Committee (EFC) approved this scheme in the year 2013 with an estimated cost of Rs 646.83 crores. The Standing Finance Committee gave its nod to this scheme in the year 2017 with a projected cost of Rs 488.5 crores for the period 2017-18 to 2019-20. This scheme was further extended by a year till 31 March, 2021.
- Social Issues - Study: 46.2% Indians report poor quality of life - A study conducted by Danone India, a French packaged foods and beverages company, along with Confederation of Indian Industry (CII), has gauged the standard of psychological and physical, social relationships, and environment among more than 2,700 adults in India. It came up with the report that 46.2% Indians report a poor quality of life. The findings were based on four aspects— psychological health, physical health, environment and social relationships. Those who were surveyed were categorized into either having a good or a poor Quality of Life. Between May and June 2021, the survey was conducted by Ipsos in Kolkata, Delhi, Lucknow, Mumbai, Indore, Chennai, Hyderabad and Patna. This study covered women and men belonging to the age group of 30 to 50 years across different socio-economic class.
- Governance and Institutions - Infosys and the new I.T. portal - The government paid Rs.164.5 crore to Infosys to build the new income tax e-filing portal between January 2019 and June 2021, the Parliament was informed. The information was provided by the Minister of State for Finance, Pankaj Chaudhary, in a written reply to the Lok Sabha. On June 7, 2021, the government launched the new tax e-filing portal. The new portal is beset with scores of problems, which the Finance Minister herself had mentioned in a public tweet. The problems have continued, and Infosys claims it is trying to resolve them quickly. Practising tax and account professionals have expressed unhappiness at the countless hours being wasted due to portal's mismanagement.
- People and Personalities - Game over for Vijay Mallaya - The UK High Court declared Vijay Mallya "bankrupt", paving the way for a consortium of Indian banks to pursue a worldwide freezing order to seek repayment of debt. "As at 15.42 [UK time], I adjudicate Dr Mallya bankrupt," Chief Insolvency and Companies Court Judge said. The Indian banks had argued for the bankruptcy order to be granted in their favour. After the UK High Court declared Vijay Mallya 'bankrupt', the fugitive businessman said Enforcement Directorate is attaching assets "worth Rs.14,000 crore at behest of government banks against debt of Rs.6,200 crore". The SBI-led consortium of banks asked "court to make me bankrupt as they may have to return money to the ED", Mallya tweeted, referring to it as "incredible".
- Indian Economy - Huge tax collection in June quarter - The government's total tax collection in the April-June quarter grew about 86% to over Rs.5.57 lakh crore, the Parliament was informed. Out of the total, collection of net direct tax stood at Rs.2.46 lakh crore as against Rs.1.17 lakh crore in the year-ago period. Indirect tax collection stood at Rs.3.11 lakh crore in Q1. A large part of the indirect taxes come from the massive rise in fuel taxes, that have pushed fuel prices to beyond Rs.100 per litre!
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