Importance of Current Affairs in IAS Coaching
Watch Video – IAS Coaching Current Affairs (14th August)
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IAS Coaching Current Affairs 14-08-2019 are followed in the part below:
IAS Current Affairs and News Analysis (14-8-2019)
Perseids Meteor shower
Part of: GS Prelims and Mains GS-I – Geography
In News
- The Perseid meteors show up as dashes of light in the sky.
- These beginning around consistently around late July and will top on August 12 night to August 13.
- The meteor shower shows up as the Earth goes through the grandiose residue left by the comet Swift-Tuttle.
- The Perseids are broadly looked for after by space experts and stargazers in light of the fact that most years at its pinnacle, one can see 60 to 100 meters in an hour from a dim spot.
- They are noticeable in the Northern Hemisphere and can be seen in skies the whole way across.
- As NASA clarifies, Meteor showers take their name from the area of the brilliant. The Perseid brilliant is in the group of stars Perseus.
- For instance, the Geminid meteor shower, which is watched every December, is named for a brilliant in the constellation Gemini.
Repo-linked deposit and lending rates
Part of: GS Prelims and Mains GS II- Indian Economy
In News
- Open divisions banks(PSB) SBI, Syndicate Bank, Bank of India, Union Bank and Allahabad Bank have reported connecting their stores and advances to the repo rate.
- The RBI has been taking a gander at different manners by which banks can be made to transmit repo rate slices to contributors and borrowers.
- Given that banks source just around 1 percent of their assets from RBI’s repo window and the main part of stores from people in general, PSBs used to grumble that they can’t slice their loaning rates except if their store rates additionally decreased.
- Controlling expansion or invigorating development by raising or bringing down the repo rate is the key target of money related strategy.
- Be that as it may, climbs or decreases in the repo rate by India’s Monetary Policy Committee have had just a peripheral effect on the economy in light of the incomplete transmission of these cuts by banks.
- This activity of PSBs connecting investment accounts loan costs to the repo rate somewhat takes care of this issue of transmission of rate cuts by RBI.
- Utilizing an outer benchmark like the repo rate makes the procedure progressively straightforward to retail borrowers and contributors.
- On the other side, the two investment funds financial balance and credit rates will swing with the repo rate making it unstable.
- Concern: SBI, for example, applies it just to contributors who have parity of over Rs 1 lakh in their investment accounts. This cosmetics under 10% of its store base and will undoubtedly prompt fractional transmission.
Do you know?
- Repo Rate is the rate at which the RBI loans cash to business banks.
- The abatement in-store rate will debilitate individuals to store their reserve funds in bank stores and rather embrace casual channels like gold.
- The abatement in loaning rate will lift credit take-up and increment the speculation and generation action in an economy.
Regulatory sandbox
Part of: GS Prelims and Mains GS III- Economy
In News
- The Reserve Bank of India (RBI) gave the last structure for an administrative sandbox.
- An administrative sandbox, for the most part, alludes to live to the trial of new items or administrations in a controlled/test administrative condition for which controllers may allow certain administrative relaxations for the constrained motivation behind the testing.
- The target of the sandbox was to cultivate capable advancement in money related administrations, advance proficiency and carry advantage to purchasers.
- RBI will dispatch the sandbox for substances that meet the criteria of the base total assets of ₹25 lakh according to their most recent examined accounting report.
- The substance ought to either be an organization fused and enrolled in the nation or banks authorized to work in India.
- While cash move administrations, computerized know-your-client, money related consideration and cybersecurity items are incorporated, digital currency, credit library and credit data have been forgotten about.
Corporate Social Responsibility (CSR)
Part of: GS Prelims and Mains GS-III – Indian Economy
In News
- Focus had as of late revised the Company Law to make CSR spend obligatory for organizations. It likewise stipulated that rebelliousness could be treated as a criminal offence and pull in punishments.
- A High-Level Committee CSR comprised in Sep 2018 under the chairmanship of Injeti Srinivas to survey the current structure on CSR has presented its report.
- Some of its recommendations include
- CSR spends ought to be qualified for charge finding under the annual assessment law. At present, annual expense law doesn’t permit CSR spends as a duty deductible sum.
- Permitting the convey forward of unspent parity for a time of 3-5 years.
- Adjusting Schedule 7 of the Companies Act (which layouts the sorts of exercises that qualify as CSR) with the UN Sustainable Development Goals.
- Organizations having CSR-recommended sum underneath ₹50 lakh might be excluded from establishing a CSR Committee.
- Infringement of CSR consistency might be made a common offence and moved to the punishment system.
- Presenting sway evaluation reads for CSR commitments of ₹5 crores.
- Enlistment of execution organizations on the Ministry of Corporate Affairs entryway.
(MAINS FOCUS)
RENEWABLE ENERGY
TOPIC: General Studies 3:
- Protection, natural contamination and corruption
- Foundation: Energy
- Indigenization of innovation and growing new innovation.
Solar energy-KUSUM scheme
Concerns:
- The World Bank predicts that around 60% of the springs in India will be in a basic state by 2032 in the event that we don’t change the momentum practice of overexploitation of groundwater for a water system. Enormous scale organization of sun-powered siphons, without a complete arrangement to screen and control water utilization, is probably going to make this forecast a reality.
Renewable energy:
- The Ministry of New and Renewable Energy (MNRE) as of late revealed an enormous sun-powered siphon program called the PM-KUSUM conspire.
- The plan has an objective to set up 25,750 megawatts (MW) sunlight based limit by 2022 to control water system siphons, with the focal budgetary help of Rs 34,422 crore. It incorporates the establishment of 1.75 million off-framework and 1 million on-network sunlight based siphons just as 10,000 MW of sun-powered limit in country zones through decentralized ground-mounted plants of 0.5 MW to 2 MW limit. These plants will be utilized to solarise the country lattice.
- This fast progress is conceivable in light of the fact that the plan makes purchasing siphons very moderate for medium-sized and enormous ranchers. With 30% sponsorship from the focal and state government each and arrangement to take bank advances for 30% of the cost, ranchers need to sell out just 10% of the expense to purchase sun based siphons.
Positives of the scheme:
- It expands ranchers’ pay for the time being.
- As sun powered power is less expensive than diesel, in states like Bihar, where ranchers to a great extent use diesel siphons, off-network sunlight based siphons will diminish the expense of water system altogether. This will enable ranchers to develop more harvests, even the water-escalated ones, at a lower cost of development, accordingly expanding salary.
- In Punjab, where electric siphons rule and the power endowment to the horticultural area is around ‘7000 crores every year, solarisation of farming feeders will lessen the sponsorship trouble essentially.
- Ranchers’ pay will likewise be expanded by selling power from sunlight based plants on to the discoms.
- The most significant piece of the sun based siphon is that the sunlight based cycle coordinates the water system cycle. Ranchers will get guaranteed water system for at any rate six hours during day time, and they don’t need to stay wakeful around evening time to inundate their homesteads (matrix supply is progressively guaranteed around evening time in many states).
Negatives of the Scheme:
- Overexploitation of groundwater: a high probability of abuse of these siphons, prompting groundwater exhaustion.
- The KUSUM plan neglects to advance effective water system and consolidate express and exacting measures against groundwater misuse.
- The plan just notices investigating the probability of its combination with state-level plans for advancing the smaller scale water system frameworks and vitality effective siphons as opposed to ordering the equivalent.
- On account of solarisation of horticulture feeders, the suggestions can be significantly increasingly shocking. As of now, states like Punjab and Haryana bear a gigantic weight of agribusiness control sponsorship.
- With sun based power anticipated to be in any event 30% less expensive, the sponsorship weight is probably going to diminish essentially. This implies the state governments have even less motivator to build horticulture tax to save water when the network is solarised. Consequently, the gross overexploitation of groundwater is probably going to proceed.
Few points to consider improving the design of the scheme:
- One, the focal government could push enormous water system changes in states through this plan. For example, KUSUM should just be reached out to states ready to take solid measures to improve water system effectiveness and control abuse of groundwater.
- Two, it must command a smaller-scale water system for sun oriented siphon recipients. Groundwater extraction must be intently checked and exacting orders on siphon size and bore-well profundity must be set. Supporting low water-concentrated crops in water-rare districts, as well, is vital.
- Three, organization of off-network sun-powered siphons must be limited to regions where the framework has not come to and groundwater is copious. Indeed, even in groundwater-inexhaustible regions, off-matrix sun based siphons must be utilized for a provincial jolt or formed into network-based water deal models to augment use and diminish water wastage.
- Four, solarisation of provincial feeders ought to be the favoured arrangement, given that it is most affordable and gives extra pay to ranchers. Be that as it may, this ought to be joined by a progressive increment in power levies, which is urgent to control groundwater abuse and lessen the weight of horticultural appropriation.
- Last, given the focal job of discoms, power controllers need to guarantee that sun-powered siphons and decentralized plants are permitted to empty capacity to the networks effectively and instalments are made to the ranchers normally.
Conclusion:
- Renewable energy is perfect energy, yet it doesn’t generally prompt green arrangements. For clean energy to get green, arrangements must be completely planned in an incorporated way.
Connecting the dots:
- What is the embodiment of ‘vitality protection’ in the present timespan? Look at the job of vitality in one’s existence concerning the manageability of that source.
- Talk about the difficulties in executing KUSUM conspire and recommend the measures for the equivalent.
(TEST YOUR KNOWLEDGE)
Topic: General Studies 3:
- Economy and development; Intellectual Property Rights
Context:
- The geographical sign can support horticulture trades.
Concern:
- The key concern is the estimation of agri-imports has flooded by four rate focuses, contacting a record-breaking high of $25 billion in FY18, which can outperform the estimation of agri-trades, consequently making India a net agri-shipper.
Geographical indication:
- An activity India should take is marking agri-items through steps, for example, land sign (GI), particularly for naturally created products that would acknowledge more significant yields in worldwide markets.
- Setting up compelling rural brands can assist ranchers with increasing an upper hand in ‘purchaser driven’ worldwide markets.
- Some internationally perceived brands (California almonds, Chilean wines, Swiss chocolates) appreciate a high stature in their individual item gatherings. Marked things generally bring the better cost and can prompt brand devotion, and are viewed as a move towards a solid client base. Marking includes an incentive by separating the item and furthermore on account of the purchaser recognition that such items are of prevalent quality than unbranded ones
What is the Geographical Indication?
- Geographical Indication is a classification of Intellectual Property.
- GI tag is a symbol of items having exceptional geographical inception and development over hundreds of years concerning its extraordinary quality or notoriety characteristics.
- The status to the items denotes its validness and guarantees that enlisted approved clients are permitted to utilize the prevalent item name.
- These could be normally developed harvests like Assam Chilies or fabricated items like Jaipur Pottery.
- GI labels are given based on the Geographical Indications of Goods (Registration and Protection) Act, 1999.
- The enlistment of GI is legitimate for a long time after which it should be re-established.
- Infringement of GI labels is a culpable offence under the law.
What are the benefits of a GI Tag?
- Lawful assurance to the items.
- Avoids unapproved utilization of GI label items by others.
- Causes buyers to get quality results of wanted attributes.
- Advances financial flourishing of makers of GI label products by upgrading their interest in national and universal markets.
- The GI tag enables the makers of the items to guarantee a premium for their items. In this way, it is monetarily helpful to them
- The GI tag can likewise arouse the enthusiasm of customers and in this manner raise interest for an item again profiting the maker.
What are the legalities related to GI Tag?
- It is secured as a component of licensed innovation rights (IPRs) under the Paris Convention for the Protection of Industrial Property.
- At the universal level, GI is represented by the World Trade Organization’s (WTO’s) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).
- In India, GI enrollment is administered by the Geographical Indications of Goods (Registration and Protection) Act, 1999.
- This Act is managed by Controller General of Patents, Designs and Trade Marks, who is additionally Registrar of Geographical Indications and is situated in Chennai, Tamil Nadu.
India and GI Tag:
- India has around 300 enrolled GIs, however, few have been utilized for business esteem expansion. Two of India’s notable GIs are Darjeeling tea and Basmati rice, however, both appear to be infinitesimal as far as market sway when contrasted and, state, Chilean wine or Danish cheddar.
- While a program to advance marking and commercialisation of GI items for fares have been started in the Directorate General of Foreign Trade approaches during 2015-20, it is appropriate to take it to the following level.
What lessons can also be learnt from other countries in promoting brands:
- Numerous nations have picked grouping, which is at the foundation of marking rural wares and increasing the value of items.
- For instance, France began this for wine, and not long after numerous different nations pursued—Japan for Kobe hamburger, Colombia for Juan Valdez espresso and New Zealand for Manuka nectar.
- A praised model is that of Malaysia for having executed an item marking system called Malaysia’s Best. It is an umbrella brand for chosen green items that assurance quality and security as per Malaysian norms and great agrarian practices.
- Forceful marking of agri-items is that administration support whenever given, would be WTO-agreeable as it is put under the ‘green box’ rather than ‘golden box’.
- At present, India bolsters agri-exporters through obligation downside and under the Merchandise Export from India Scheme, which may convey the danger of being WTO rebellious.
- It’s implied that satisfactory budgetary allotments towards forceful marking and bundling can energize makers and exporters.
Conclusion:
- An activity India should take is marking agri-items through steps, for example, geographical sign.
- An expanded push on agrarian fares is all around recorded in the Agriculture Export Policy 2018 and is likewise noticeable through adjustments in the levies and non-taxes measures.
Connecting the dots:
- Examine the advantages and issues of GI tag?
- How geographical sign can support farming fares. Clarify?
(TEST YOUR KNOWLEDGE)
Model questions: (You can now post your answers in the comment section)
Q.1) Consider the following statements about Perseids Meteor shower
- They occur every year during December
- The meteor shower appears as the Earth passes through the cosmic dust left by the comet Swift-Tuttle.
- They are visible in the Northern Hemisphere and can be viewed in skies all across.
Which of the statement(s) given above is/are correct?
- 1 and 2only
- 2 and 3 only
- 1 and 3 only
- 1,2 and 3
Q.2) Consider the following statements
- Reverse repo rate is the rate at which the RBI lends money to commercial banks.
- Repo-linked deposit and lending rates will bring transparency in bank rates and leads to the quick transmission of monetary policy rate cuts.
- The decrease in bank deposit rate will lead to an increase in formalisation of the economy.
Select the correct answer from the codes given below.
- 1 and 2only
- 2 and 3 only
- 1 and 3 only
- 1,2 and 3
Q.3) Consider the following statements about Regulatory sandbox
- It refers to live to test of new products or services in a controlled/test regulatory environment for which regulators may permit certain regulatory relaxations for the limited purpose of the testing.
- RBI will launch the sandbox for entities involved in money transfer services, digital know-your-customer, cryptocurrency, credit registry and credit information.
Which of the statement(s) given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Q.4) Injeti Srinivas Committee named by Union Government manages which of the accompanying issues?
- Recapitalization of Public Sector banks
- Economic Capital Framework for RBI
- Cryptocurrency
- Reviewing of Corporate Social Responsibility
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