- Jun 06, 2021
- Blog English, Current Affairs,
Ministry of Defence signs contract with Mahindra Telephonics for 11 Surveillance radar
For the Navy and the Indian Coast Guard, the Ministry of Defence (MoD) has inked a deal with Mahindra Telephonics Integrated Systems Limited to purchase 11 airport surveillance radars with secondary surveillance radar.
According to a statement from the Ministry of Defence, the installation of these radars would improve air domain awareness near airfields, as well as the safety and efficiency of Navy and Indian Coast Guard aviation operations.
- According to the deal, the business will supply the Indian Navy and the Indian Coast Guard with 11 airport surveillance radars with monopulse secondary surveillance radars.
- The acquisition would be done under the ‘Buy & Make’ category at the cost of Rs 323.47 crore.
- The installation of these radars would improve air domain awareness near airfields, as well as the safety and efficiency of Indian Navy and Coast Guard flight operations.
- Farm equipment, car and automotive components, real estate, hotels, information technology, military and aerospace, and financial services are all part of M&M’s business.
- In Q4 FY21, the firm had a net profit of Rs 162.54 crore, compared to a net loss of Rs 3255.02 crore in Q4 FY20. The net revenue from operations climbed by 48.1 percent year on year (YoY) to Rs 13,338.15 crore during the quarter.
- When there are multiple aircraft in close proximity in a single region of airspace, the 11 monopulse secondary surveillance radars are projected to be substantially more accurate than conventional ones.
- The first equipment acquisition can be made from a foreign business, followed by indigenous manufacturing by an Indian firm in a staged manner incorporating “Transfer of Technology” of vital technologies according to “defined range, depth, and breadth.”
- The signing of a contract between the Defense Ministry and Mahindra Telephonics Integrated Systems Limited will be a crucial step in accomplishing the federal government’s goals under the “AtmaNirbhar Bharat Abhiyan.”
Health minister Harsh Vardhan launched digitised version of health schemes
The Minister of Health, Dr. Harsh Vardhan, unveiled “revamped” health plans on Tuesday to provide cashless, paperless, and citizen-centric services. He said that the poor and needy were unable to profit from these health programs owing to a lack of early action, delayed responses, and other obstacles.
- On the National Health Authority’s (NHA) IT platform, he unveiled the redesigned Central Government Health Scheme (CGHS), as well as the umbrella programs Rashtriya Arogya Nidhi (RAN) and the Health Minister’s Discretionary Grant (HMDG).
- The Union Health Minister stated that the CGHS, which is a comprehensive health system for serving employees, pensioners, Members of Parliament, ex-MPs, and their dependent family members.
- It has grown to 72 cities in the previous seven years, with more than 38 lakh beneficiaries.
- Dr. Harsh Vardhan stated that the National Informatics Centre’s (NIC) e-referral module has allowed CGHS dispensaries and wellness centres to provide online referrals to impaneled hospitals.
- The hospital’s application processing, claim filing, CGHS team sanctioning, and payment release will all be done electronically on the platform in the future.
- He further stated that under the RAN, impoverished people with significant life-threatening illnesses, cancer, or unusual diseases could receive financial support of up to Rs 15 lakhs for medical treatment at government facilities.
- The BPL thresholds in each State/UT were used to determine eligibility for RAN services.
Health schemes in India
- The Central Government Health Scheme (CGHS) is a government-run healthcare program.
- The Central Government Health Scheme (CGHS) is a unique health plan for government workers.
- Wellness Centres (formerly known as CGHS Dispensaries) / polyclinics provide medical services under the Allopathic, Ayurveda, Yoga, Unani, Sidha, and Homeopathic medical systems.
- The RAN was established to assist people living in poverty suffering from significant life-threatening diseases in receiving medical care at any of the super specialty hospitals/institutes or other government institutions.
- Financial help is provided to such patients in the form of a ‘one-time award,’ given to the Medical Superintendent of the hospital where the treatment was/is being received.
- A maximum sum of Rs.1,25,000/- is paid to patients whose yearly income does not exceed Rs.1,25,000/- under the Health Minister’s Discretionary Grant (HMDG) to offset a portion of the cost of hospitalization/treatment at Government Hospitals.
Expert committee on VCC submitted its report to IFSCA
Dr. K.P. Krishnan’s expert committee on Variable Capital Companies has presented a report to Shri. Injeti Srinivas, Chairperson of the International Financial Services Centres Authority (IFSCA), on the viability of Variable Capital Companies in the International Financial Services Centres.
The International Financial Services Centres Authority formed a Committee of Experts (‘the Committee’) to look into the viability of the Variable Capital Company (‘VCC’) in India and its acceptability as a vehicle for fund management in the International Financial Services Centre.
- The IFSCA put up the K.P. Krishnan committee to look at the possibility of enabling asset managers to combine client assets through a Variable Capital Corporation (VCC).
- Variable Capital Corporations are a type of alternative corporate vehicle that may be used for both open-ended and closed-ended alternative and traditional fund strategies.
- It is a flexible capital corporate vehicle in which shares are generated when investments are made, and shares are easily redeemed by shareholders.
- It was created with the investment management sector in mind.
- The Variable Capital Corporation structure eliminates some of the significant constraints of corporations and limited liability partnerships. It establishes stricter regulatory requirements.
- The committee evaluated the elements of Variable Capital Corporation or its equivalent in Singapore, the United Kingdom, Ireland, and Luxembourg.
- It was suggested that fund management activities in IFSCs be conducted within a legal structure similar to that of a Variable Capital Corporation.
- It was acknowledged that the legal structure governing companies that handle funds should give certainty and clarity to all parties involved.
What is International Financial Services Centres Authority?
- Under the International Financial Services Centres Authority Act, approved by the Indian Parliament in April 2020, the Indian government formed the International Financial Services Centres Authority (IFSCA).
- For the first time, the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), the Insurance Regulatory Development Authority of India (IRDAI), and the Pension Fund Regulatory Development Authority of India (PFRDAI) have been vested in IFSCA with regulatory powers over financial institutions, financial services, and pension funds.
- IFSCA’s efforts to make GIFT city’s IFSC a world-class financial services centre have paid off, as there are now over 225 units functioning, employing over 11,000 people.
- The IFSC in GIFT City is included among 15 global financial centres anticipated to grow, increasing relevance over the next 24 months in the latest Global Financial Centres Index, published in London in September 2020.
Denmark approves Artificial Island off Copenhagen
Danish MPs have authorised plans for an artificial island that would house 35,000 people and defend Copenhagen’s port from rising sea levels.
A ring road, tunnels, and a metro line would connect the massive island of Lynetteholm to the mainland.
The Danish parliament’s decision clears the way for the 1 square mile (2.6 square kilometers) project to start later this year. Environmentalists, however, are opposed to the proposal because of their fears about the effects of its development.
- Lynetteholm’s plans involve constructing a dam system around its perimeter to defend the port from rising sea levels and storm surges.
- If all goes according to plan, most of the foundations for the island off the coast of Denmark’s capital should be in place by 2035, with the project expected to be completed by 2070.
- Environmental organisations have filed a complaint with the European Court of Justice opposing the development of Lynetteholm.
- Transportation of materials via road, which involves a significant number of cars, is a source of concern.
- According to one estimate, up to 350 lorry trips per day through Copenhagen would be necessary to supply the raw materials once they were condensed.
- According to local media, constructing the artificial island, which is around the size of 400 football fields, would need the delivery of 80 million tonnes of earth to the region to form the peninsula.
- Environmentalists are also concerned about sediment migration at sea and its potential influence on ecosystems and water quality.
- Protesters gathered outside the Danish parliament building on Friday as the law was passed by a vote of 85 in favor to 12 against it.
Indonesia’s Merapi volcano erupts
Saturday, Indonesia’s most active volcano erupted once more, sending plumes of ash far into the air and lava and debris down its slopes. There were no recorded casualties.
According to Hanik Humaida, the Director of Yogyakarta’s Volcanology and Geological Hazard Mitigation Center, an avalanche of rocks rushed down Mount Merapi’s slopes before morning, sending clouds of scorching ash 200 meters into the air while the mountain moaned and shook.
- Since the morning, the volcano has ejected heated ash clouds at least eight times, as well as a succession of pyroclastic flows – a mixture of rock, debris, lava, and gases — that have reached over 2 kilometers down its slopes, according to Humaid.
- The 2,968-meter-high volcano is located near the historical city of Yogyakarta on the highly populated Java island.
- It is the most active of dozens of Indonesian volcanoes, erupting several times in recent years.
- Villagers living on Merapi’s slopes have been instructed by Indonesia’s Volcanology and Geological Hazard Mitigation Center to keep 5 kilometers away from the volcano’s crater and be wary of the dangers of lava.
- Merapi’s most recent big eruption, in 2010, claimed the lives of 347 people.
- The Pacific Ring of Fire, a horseshoe-shaped ring along the ocean’s edge prone to earthquakes and volcanic activity, runs across Indonesia, a 270-million-strong island.
- A volcano is a crack in a planetary-mass object’s crust that permits hot lava, volcanic ash, and gases to escape from a magma chamber under the surface, such as Earth.
- Volcanoes are most often found on Earth when tectonic plates are diverging or converging, and the majority of them are located underwater.
- As ash and sulfuric acid droplets hide the Sun and chill the Earth’s troposphere, significant eruptions can alter the air temperature.
- Large volcanic eruptions have historically been followed by volcanic winters, resulting in terrible famines.
- If a volcano is actively erupting or shows symptoms of disturbance, such as uncommon eagle sightings, scientists believe it to be erupting or soon to erupt.
Ladakh launches YounTab scheme
RK Mathur, the Lieutenant Governor of Ladakh, has introduced the YounTab program for students in the Union Territory. As part of the first phase of the YounTab Scheme, he handed out tablets to students in grades 9 to 12. The plan would benefit 12 thousand 300 pupils in government institutions from grades 6 to 12.
The YounTab plan was created to promote digital learning, close the digital divide between connected and disconnected people, and reduce the effects of the Covid epidemic. Mr. Mathur, who spoke at the occasion, emphasised the relevance of educational technology in the coming years. He expressed his gratitude for meeting the immediate needs of Ladakh’s students.
- In addition, the UT administration has been in contact with the Telecommunication Department in order to implement NOFN in Ladakh by laying OFC up to Block level in place of VSATs.
- To guarantee 100 percent connection across Ladakh, an additional 115 towers with 1760 kilometers of OFC cables have been required.
- Efforts are made to increase education quality, with 100% enrolment and zero dropouts in schools.
- LG Mathur praised the Department of Education for meeting a 100% objective in teacher training and noted that NCERT’s assistance in improving the department’s training and curriculum development would be useful.
- He said that deserving kids in classes 10th and 12th would be given financial aid to pursue coaching examinations like NEET, JEE, NDA, and UG CLAT.
- The Rewa Scheme would repay students up to Rs 1 lakh in coaching fees.
- LG Mathur has also promised financial help of up to Rs 1.54 lakh for students who pass the preliminary examinations for the Civil Services, IES, and IFS.
- He also stated that Gram Panchayats would receive Rs 25 lakh from LG’s money to help improve rural infrastructure and conduct community classes for elementary school pupils.
Kerala launches Knowledge-Economy mission
The Knowledge Economy Mission was developed by the state government to consolidate current initiatives to employ the educated and assist “knowledge workers” into a single initiative.
Finance Minister K.N. Balagopal announced the initiative in the State Budget on Friday, saying it was sponsored by the Kerala Development and Innovation Strategic Council (K-DISC), which had been charged with providing a detailed project report by July 15.
- A strategy would be developed to offer basic services and a social security system for knowledge workers who work near their homes and engage with employers.
- The budget for the ‘knowledge economy fund,’ which is intended to promote skill development, technological transformation, and the improvement of higher education systems.
- It has been increased from 200 crores to 300 crores, providing a boost to such initiatives.
- Mr. Balagopal further mentioned that the APJ Abdul Kalam Technological University had established the Kerala Digital Work Force Management System, which has so far registered over 27,000 job seekers.
- The initiative, which was considered a sub-mission of the Kudumbasree Mission, required educating its staff and executives from other organisations.
- In addition, the ICT Academy established a mechanism to assess the profiles of educated jobless youngsters, give career counseling, and enrol them in micro-training programs.
- As a first step in establishing a framework to connect professional HR agencies and placement officers within it, expressions of interest were requested.
- While the government’s Kerala Knowledge Mission has been collaborating with Monster to provide jobs, the freelance marketing network “Freelancer.com” has also indicated interest.
- The government would also set up a high-powered panel to study the education system and provide recommendations for reconstructing it so that it can increase knowledge-creation ability.
- From primary through higher education, a restructure has been implemented, including research, to boost knowledge generation and ensure widespread use across Kerala.
- Within three months, the commission would present its report.
- By establishing basic facilities, the government hoped to speed up the establishment of the Sree Narayana Guru Open University.
- In addition to the provision made in the previous budget, a sum of ten crores was set aside in this one.
IISR gets patent for Black pepper micronutrient
A patent for a black pepper micronutrient foliar formulation has been granted to the Indian Council of Agricultural Research (ICAR)-Indian Institute of Spices Research (IISR).
According to a news statement issued here on Thursday, the institution filed a patent application with the Central government’s patent office in 2013. For commercial production, the technology has been licensed by seven entrepreneurs on a non-exclusive basis. It’s conceivable that other entrepreneurs will seek a technology license for the patented device.
- To overcome micronutrient deficits and satisfy the physiological and metabolic requirements of spice crops, ICAR-IISR has created crop-specific designer micronutrient foliar formulations for main spices (black pepper, ginger, turmeric, and cardamom).
- A team of experts, including Dr. V. Srinivasan, Dr. R. Dinesh, and Dr. S. Hamza, created a patent for a black pepper-specific micronutrient formulation.
- The micronutrient blend for black pepper increases the product’s quality.
- It is environmentally sustainable, and the institute’s micronutrient formulation is already popular among farmers, according to J. Rema, Director, ICAR-IISR.
- The black pepper micronutrient combination was created to meet the needs of the black pepper crop by preserving an ideal ratio of secondary micronutrients such as magnesium, zinc, and boron in the leaf.
- For black pepper, the crop-specific micronutrient formulation is indicated as a foliar spray at spike initiation at the start of the monsoon and at monthly intervals after that.
- The use of a black pepper micronutrient blend improves the quality of the crop while also adding to the vines’ overall health through balanced nutrition.
- Over time, the technique has reached farmers in around 10% of the planted area.
- ICAR-IISR now possesses patents for six of its innovations, according to this latest patent.
- Micronutrient compositions for the turmeric plant and a technique for their preparation, two micronutrient compositions for ginger and a technique for their production, microbial encapsulation technology, and seed coating formulation are among the other technologies.
David Diop wins International Booker prize 2021
The International Booker Prize for fiction was awarded on Wednesday to a horrific yet beautiful story about comradeship, colonialism, and the horrors of war.
The French writer David Diop’s story “At Night All Blood is Black” won the 50,000-pound ($70,000) Award, which is open to fiction in any language that has been translated into English. The award money will be shared between the author and Anna Moschovakis, his translator.
- The story follows the spiral into lunacy on the battlefield of Alfa Ndiaye, a Senegalese soldier fighting for the then-imperial power of France during World War I.
- The five judges picked Diop’s work above other finalists, such as Russian writer Maria Stepanova’s Jewish-Russian family history “In Memory of Memory” and Mariana Enriquez’s innovative short-story collection “The Dangers of Smoking in Bed.”
- Diop is a professor of 18th-century literature at the University of Pau in southern France. He was born in France and reared in Senegal.
- He is the first French novelist to receive the prize, which is similar to the coveted Booker Prize for fiction written in English.
- Diop’s novel, which was released in French in 2018, is relevant to today’s discussions concerning racism and colonialism.
International Booker Prize
- The International Booker Prize (previously the Man Booker International Prize) is an annual literary prize held in the United Kingdom.
- In June 2004, the International Prize was launched as a companion to the Man Booker Prize. 1st From 2005 to 2015, the prize was granted every two years to a living author of any country for a body of work published in English or widely available in English translation, and the Man Group sponsored it.
- It recognised a writer’s “continuous innovation, evolution, and total contribution to fiction on the global stage.” It was based on the writer’s whole body of work rather than a single book.
Nitin Rakesh and Jerry Wind win International Business Book award 2021
This week, the authors made history when their newly released book Transformation in Times of Crisis, published by Notion Press, won the coveted International Business Book of the Year Award for 2021.
The Business Book Awards is one of the most important and prestigious events on the international calendar for business book authors. It promotes business books and their writers to highlight leadership, transformation, and sustainability in the workplace. Every year, the organisers get over 150 entries from famous writers and their publishers, making this accomplishment even more remarkable.
- Nitin Rakesh, a recipient of the ‘Gold Stevie Award’ for Tech Innovator of the Year, is a well-known figure in the technology and financial services industries and has been the CEO and Executive Director of IT giant Mphasis since 2017.
- Jerry Wind, his co-author, is an internationally famous academician who is presently Lauder Professor Emeritus and Professor of Marketing at the University of Pennsylvania’s Wharton School.
- Their book, Transformation in Times of Crisis, equips entrepreneurs and company owners with the information they need to succeed even in the face of adversity.
- This book is a gamechanger for organisations of all sizes, allowing them to build and implement a winning strategy by applying the book’s eight principles and tools to find long-term value creation possibilities in a post-pandemic environment.
- Given the current state of business, this book can only be defined as urgent and essential. Several industry heavyweights have given the book glowing reviews.
International Business Book of the Year Award
- The Financial Times and McKinsey Business Book of the Year Award honors the greatest business book of the year as decided by the Financial Times and McKinsey & Company each year.
- Its goal is to uncover “the most interesting and interesting insight into current business concerns.”
- The first prize, which was founded in 2005 and is worth £30,000, was founded in 2005. Since 2010, five short-listed authors have received £10,000 apiece, up from £5,000 before.
NTPC joins UN’S CEO Water mandate
The CEO Water Mandate of the United Nations Global Compact has been signed by NTPC Ltd. The CEO Water Mandate is a UN Global Compact program that encourages businesses to demonstrate their commitment to improving their water and sanitation plan as part of the long-term Sustainable Development Goals.
It is intended to aid businesses in the creation, execution, and disclosure of NTPC is India’s largest power utility, which is overseen by the Ministry of Power. According to the Power Ministry, NTPC has already implemented a range of water management techniques throughout its plant locations.
- According to the company, NTPC will continue to practice the 3 R’s (Reduce, Reuse, and Recycle) for water conservation and management while doing its main electricity-generating business.
- The CEO Water Mandate is a UN Global Compact program that encourages businesses to demonstrate their commitment to improving their water and sanitation agendas as part of the long-term Sustainable Development Goals.
- The CEO Water Mandate is intended to help businesses plan, execute, and disclose comprehensive water plans and policies.
- It also provides a venue for businesses to collaborate with like-minded enterprises, UN agencies, government agencies, civil society groups, and other critical stakeholders.
- Water and sanitation crises are escalating in many areas of the globe, posing a wide range of hazards – and, in some cases, opportunities – for businesses of all sizes.
- NTPC is dedicated to proactively addressing water sustainability challenges by enacting a Water Policy, which will guide developing water management strategies, systems, processes, practices, and research projects.
- NTPC Limited, formerly known as National Thermal Power Corporation Limited, is an Indian government-owned energy company that generates energy and engagements in related operations.
- It is a corporation established under the Companies Act of 1956 and is owned by the Ministry of Power, Government of India.
- The company’s headquarters are located in New Delhi.
- The generation and sale of energy to state-owned power distribution companies and State Electricity Boards in INDIA is NTPC’s major activity.
- Engineering, project management, construction management, and operation and administration of facilities are among the services provided by the organisation.
- The corporation has also dabbled in oil and gas exploration as well as coal mining. It is India’s largest power company, having a producing capacity of 62,086 megawatts (MW).
T20 World Cup set to be moved out of India, ICC intimated internally
Due to a problematic Covid-19 scenario in India, the flagship T20 World Cup is expected to be transferred to the UAE and Oman in October-November. The BCCI has internally informed the ICC to press forward with its preparations.
Apart from Abu Dhabi, Dubai, and Sharjah, Oman’s capital Muscat has been added as the fourth location for the event, which will begin in the final week of October.
- Muscat has been chosen expressly for the 16-team competition’s early rounds, allowing the three UAE venues to rest following 3 IPL games.
- A majority of ICC board members feel India is attempting to buy time while they assess the situation when it is extremely difficult to foresee how events would unfold in October and November.
- Another “elephant in the room” is the question of how many international players would be willing to risk traveling to India for the event if the situation does not substantially improve.
About T20 World Cup
- The ICC Men’s T20 World Cup (formerly known as the ICC World Twenty20) is an international Twenty20 cricket tournament.
- The competition, which is organised by cricket’s governing body, the International Cricket Council (ICC), presently has 16 teams, with the top 10 teams from the rankings at the time of the deadline and six more teams selected through the T20 World Cup Qualifier.
- All of the matches are Twenty20 Internationals.
- India won the first 2007 World Twenty20 in South Africa, defeating Pakistan in the final at the Wanderers Stadium in Johannesburg.
- The 2012 tournament was supposed to be enlarged to a 16-team format. However, it was cut back to 12.
- The 2014 event, which took place in Bangladesh, was the first to include 16 teams, with all ten full members and six associate members qualifying through the 2013 ICC World Twenty20 Qualifier.
- However, on October 8, 2012, the top eight entire member teams in the ICC Men’s T20I Team rankings were awarded a spot in the Super 10 stage.
- In the group stage, the remaining eight teams battled, with two teams advancing to the Super 10 level.
- Three Nepal, Hong Kong, and UAE teams made their debut through this tournament.