Highlights |UPSC Exam Current Affairs 23-08-2019
UPSC exam current affairs 23-08-2019- The following article contains all the updated events and news for IAS Preparation. Our daily IAS Current Affairs and News cover the most important topics to give precise information to the reader and IAS Aspirants.
- Amazon Wildfires
- Sabka Vishwas Scheme
- Ordnance Factory Board (OFB)
- One Nation, One Ration Card (ONORC)
- FORESTS/ENVIRONMENT
- ECONOMY
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UPSC Exam Current Affairs 23-08-2019 are followed in the part below:
UPSC Exam Current Affairs and News Analysis (23-08-2019)
Amazon Wildfires
Part of: GS Prelims and GS Mains II- Environmental Conservation
In News
- Man-caused fires on the planet’s biggest rainforest to have sent smoke to populated urban communities and the Atlantic coast.
- It isn’t bizarre to see fires in Amazon woodlands during this season because of high temperatures and low dampness which makes dry great conditions for common out of control fires.
- In any case, rapidly spreading fires seething in the Amazon rainforest have hit a record number this year, with 72,843 flames recognized up until now. Backwoods fires in the area have multiplied since 2013, and expanded by 84% contrasted with a similar period a year ago.
- Natural activists accused President Bolsonaro of the present circumstance, saying he urged lumberjacks and ranchers to clear the land by torching the woodlands.
- The biggest rainforest on the planet, the Amazon is a fundamental carbon store that hinders the pace of a worldwide temperature alteration.
- The Amazon rainforest creates roughly 20% of oxygen in the Earth’s air.
- It is likewise home to around 3,000,000 types of plants and animals, and one million indigenous individuals, which is currently under danger because of infringement by the Brazil government, outside companies and governments with financial premiums in the asset-rich district, and nearby ranchers
Sabka Vishwas Scheme
Part of: GS Prelims and GS Mains III – Indian Economy
In News
- Man-caused fires on the planet’s biggest rainforest to have sent smoke to populated urban areas and the Atlantic coast.
- It isn’t uncommon to see fires in Amazon backwoods during this season because of high temperatures and low stickiness which makes dry good conditions for characteristic fierce blazes.
- Notwithstanding, out of control fires seething in the Amazon rainforest has hit a record number this year, with 72,843 flames recognized up until now. Timberland fires in the locale have multiplied since 2013, and expanded by 84% contrasted with a similar period a year ago.
- Ecological activists accused President Bolsonaro of the present circumstance, saying he urged lumberjacks and ranchers to clear the land by torching the timberlands.
- The biggest rainforest on the planet, the Amazon is a crucial carbon store that hinders the pace of a worldwide temperature alteration.
- The Amazon rainforest creates roughly 20% of oxygen in the Earth’s environment.
- It is likewise home to around 3,000,000 types of plants and animals, and one million indigenous individuals, which is presently under risk because of infringement by the Brazil government, outside companies and governments with financial premiums in the asset-rich area, and neighbourhood ranchers
Ordnance Factory Board (OFB)
Part of: GS Prelims and GS Mains III – Indian Economy
In News
- It is similarly home to around 3,000,000 sorts of plants and animals, and one million indigenous people, which is by and by under hazard in light of encroachment by the Brazil government, outside organizations and governments with money related premiums in the advantage rich region, and neighbourhood farmers.
- The OFB set up in 1775 is at present a division under the Defense Ministry.
- These processing plants produce weapons, ammo, explosives and other gear like shielded vehicles for the resistance powers just as outside customers.
- OFB in its present structure of a departmental association isn’t productive in the usage of assets and contending with rivals in the private division who have all the administrative and specialized adaptability.
- The administration intends to change over it into at least one corporate elements completely possessed by the administration, similar to the next open segment units.
- In any event, three master boards of trustees — T K S Nair Committee (2000), Vijay Kelkar Committee on Defense Reforms (2005), and the Raman Puri Committee (2015) — had recommended such a move
- The contention is that corporatisation would improve effectiveness, make items cost-aggressive, upgrade quality, give operational opportunity and adaptability to the OFB
- One of the feelings of dread of representatives is that corporatisation is a stage towards privatization and they dread occupation misfortunes
One Nation, One Ration Card (ONORC)
Part of: GS Prelims and GS Mains II – Issues relating to Public Distribution System
In News
- A week ago, the administration propelled the pilot venture for the between state compactness of apportioning cards among Telangana and Andhra Pradesh, and among Maharashtra and Gujarat, as a major aspect of its ‘One Nation, One Ration Card’ plot.
- An apportion card is given to the leader of the family, contingent upon the number of individuals in a family and the money related status of the candidate.
- It is utilized by families to get fundamental nourishment grains at sponsored costs from assigned apportion shops (likewise called reasonable value shops) under the Targeted Public Distribution System (TPDS).
- Throughout the years, various sorts of apportion cards were given relying upon the degree of hardship.
- Nonetheless, in 2013, when the National Food Security Bill was passed, diverse apportion cards were compacted to only two — need and Antyodaya (for the least fortunate).
- The obligation of distinguishing qualified families and giving proportion cards to them rests with the state/UT government.
- This inferred recipients could get nourishment grains just from the assigned proportion shops inside the concerned state.
- ONORC plot has been propelled remembering the inside movement of our nation since individuals continue moving to various states looking for better openings for work and better expectations of living.
- ONORC conspire causes the recipient to purchase nourishment grains from proportion shops situated in any piece of the nation
Do You Know?
- The proportion of shops can be exclusive or claimed by helpful social orders or by the legislature.
- Proprietorship licenses are given by the concerned state government.
- By and by, items including wheat, sugar, rice and lamp fuel are being allotted as a major aspect of the TPDS. State governments have the caution to give extra wares
(MAINS FOCUS)
FORESTS/ENVIRONMENT
Topic: General studies 3
- Preservation, ecological contamination and debasement, natural effect evaluation Disaster and calamity the executives.
Why Amazon fires are worrying
Context:
- Man-caused fires on the planet’s biggest rainforest to have sent smoke to populated urban communities and the Atlantic coast.
Concern:
- Throughout the most recent a few days, the Amazon rainforest has been consuming at a rate that has frightened tree huggers and governments around the world. Generally brought about by ranchers clearing land, the flames have put the focus on Brazil President Jair Bolsonaro’s approaches and against condition position
Where are the Amazon fires happening?
- Begun in the Amazonian rainforests, the shoot has affected populated zones in the north, for example, the conditions of Rondonia and Acre, blocking daylight and encompassing the district in smoke.
- The smoke has floated a large number of miles to the Atlantic coast and São Paulo, as per the World Meteorological Organization.
- Brazil’s National Institute for Space Research (INPE) has announced that timberland fires in the area have multiplied since 2013, and expanded by 84% contrasted with a similar period a year ago.
- This year alone there have been 72,843 flames, it stated, and more than 9,500 of those have occurred in the course of recent days.
How did the Amazon fires start?
- The week after week Brasil de fato announced that Bolsonaro’s enemy of condition talk has encouraged ranchers, who sorted out a “fire day” along BR-163, a thruway that goes through the core of the rainforest. The week after week cited a report by neighbourhood paper Folha do Progresso, that nearby ranchers had burned down areas of the rainforest a couple of days back to stand out enough to be noticed. “We have to show the President that we need to work and the main route is to wreck it. What’s more, to shape and clear our fields, it is with fire,” Folha do Progresso cited one rancher as saying.
- Alberto Setzer, a specialist at INPE, disclosed to Reuters that this year, the locals didn’t encounter extraordinary dry climate. “The dry season makes the great conditions for the utilization and spread of fire, yet lighting a fire is crafted by people, either intentionally or coincidentally.”
- The Amazon fires are enormous to such an extent that they are unmistakable from space. NASA discharged pictures on August 11 indicating the spread of flames and revealed that its satellites had identified increased fire activity in July and August.
Why are the Amazon fires a cause for concern?
- The Amazon rainforest is a vault of rich biodiversity and delivers roughly 20 percent of oxygen in the Earth’s air.
- It is additionally home to indigenous networks whose lives and countries are under danger because of infringement by the Brazil government, remote companies and governments with monetary premiums in the asset-rich area, and neighbourhood ranchers.
- In a recent report, the University of Leeds found that carbon consumption by the Amazon bowl coordinates the discharges discharged by countries in the bowl.
- The consuming of woods, hence, infers extra carbon discharges. Research by researchers Carlos Nobre and Thomas E Lovejoy recommends that further deforestation could prompt Amazon’s change from the world’s biggest rainforest to a savanna, which would turn around the district’s environment.
- A National Geographic report said the Amazon rainforest impacts the water cycle on a provincial scale, yet additionally on a worldwide scale.
- The downpour created by the Amazon goes through the district and even arrives at the Andes mountain run. Dampness from the Atlantic falls on the rainforest, and in the long run, vanishes once again into the climate.
- The report said the Amazon rainforest can create in any event half of the downpour it gets. This cycle is a sensitive parity.
What environmental protection do Brazil’s laws provide, and what has changed in recent times?
- Under Brazil’s Forest Code of 1965, ranchers could buy Amazon land however could cultivate just 20% of it. Following the breakdown of the military tyranny in 1988, another constitution gave indigenous populaces lawful responsibility for land and the privilege to dismiss the advancement of their territory.
- In 2012, the Forest Code was overhauled to diminish the zone of deforested land required to be reestablished and to lessen punishments for unlawful deforesting.
- In 2018, Brazil’s Supreme Court maintained these changes.
- Bolsonaro, who got to work in January 2019, had guaranteed during his political race crusade that his legislature would open up the Amazon district for business.
- Amazon has enormous stores of gold and different minerals. Alongside forceful strategies of advancing agribusiness, Bolsonaro has restricted insurances for indigenous innate land. A couple of months before he won, The Washington Post announced that Bolsonaro had suggested misusing the nation’s regular assets by taking advantage of the Amazon bowl.
- After the triumph, he was cited as saying: “Brazil ought not to sit on its regular stores on the grounds that a bunch of Indians need to monitor it.”
- Since the 1960s, the Amazon has seen huge scale deforestation as a result of cows farming, logging, control tasks, mining and cultivating. Agribusiness items in 2016 spoke to 46% of Brazil’s fares. Preservationists accept that for Brazil’s administration, transient financial interests pushed by entryways overshadow natural concerns.
How has the government reacted to the concerns over the fires?
- Bolsonaro has expelled the INPE discoveries and said it was the time when ranchers copy the land for cultivating.
- In July, he terminated INPE researcher Ricardo Galvao for distributing organization information that demonstrated the quickened pace of deforestation, considering the figures a falsehood and the pictures controlled. Al Jazeera English cited Bolsonaro as saying that “a report like this one that doesn’t coordinate reality can make extraordinary harm the picture of Brazil”. INPE has shielded its information
How has the international community reacted?
- Germany and Norway have suspended financing for programs that mean to stop deforestation in the Amazon and have blamed Brazil for doing little to secure the woodlands. Indigenous gatherings and condition activists have driven fights and reprimanded Bolsonaro for his remarks and approaches.
Connecting the dots:
- What are the causes of forest fires? Discuss the measures to prevent Forest fires
ECONOMY
Topic: General studies 3
- Germany and Norway have suspended financing for programs that intend to stop deforestation in the Amazon and have censured Brazil for doing little to verify the forests. Indigenous social affairs and condition activists have driven battles and criticized Bolsonaro for his comments and approaches.
Government Budgeting.
New FPI norms by SBI
Context:
- SEBI has loosened up the FPI standards to check the surges of FPIs from India. SEBI loosens up Foreign Portfolio Investors (FPI) standards by facilitating the administrative system for FPI with improves KYC necessities for them and permit FPIs to take out an away market move of protections. Aside from this SEBI arranged FPIs into two classes rather than three. SEBI loosens up the standards based on a board of trustees headed by H R Khan (Former RBI Deputy Governor).
Who are Foreign Portfolio Investors?
- FPI are those financial specialists who hold a momentary perspective on an organization, dissimilar to Foreign Direct Investors who contribute with a long haul see. They take an interest in the financial exchanges in the economy. FPI doesn’t have direct authority over the organizations. FPIs are simpler to sell than the FDIs because of high liquidity. By and large, the FPI course is favored for laundering dark cash. In India, FPIs are controlled by SEBI.
Need of Committee:
- Both the FPIs and the financial specialists had genuine worry over the SEBI standards and need to survey the standards by SEBI. FPIs shows worry over that the FPIs standards will bring about limitations on ventures anyway SEBI rejected any such feelings of dread. In like manner, SEBI comprises H R Khan Committee to audit FPI standards and concern raised by the financial specialists.
Recommendation of H R Khan Committee:
- The advisory group arranged the proposal into four containers, for example, FPI Registration procedure, KYC and documentation, Investment consent and constraints and different angles.
- The board of trustees suggests that OCIs, NRIs, and RIs ought to be considered holding a non-controlling stake in FPIs and no confinements ought to be forced on them for overseeing non-contributing FPIs or SEBI enrolled seaward assets.
- The board prescribes for facilitating KYC necessities for gainful proprietors if there should be an occurrence of government-related FPIs.
- The board prescribed that past PIOs ought not to be exposed to any limitations and clubbing of speculation points of confinement ought to be taken into consideration all around managed and openly held FPIs that have normal control.
- The advisory group additionally proposes that the ideal opportunity for consistency with the new standards ought to be stretched out by a half year after the finish and the resistant financial specialists ought to be allowed an additional 180 days to accommodate their current positions.
- As indicated by the board of trustees, NRI will be permitted to contribute as FPIs if the single holding is under 25% and bunch holding under half in a reserve.
- The board additionally prescribes that the new rules ought to be similarly applied to the speculators utilizing participatory notes (P-notes).
- The board additionally recommended for changes in the standards relating to the recognizable proof of senior overseeing authorities of FPIs and for helpful proprietors of recorded elements.
New FPI norms by SEBI:
- SEBI excuses the prerequisites for issuance and membership of seaward subordinate instruments (ODIs).
- SEBI said that the seaward assets skimmed by the shared assets would be permitted to put resources into the nation after the enrollment.
- Those elements which are built up under the International Financial Services Center must meet the criteria for FPIs.
- SEBI grants FPIs for the off-advertise move of protections which are unlisted, suspended or illiquid to a local or remote financial specialist.
- Structure for Multiple Investment Manager likewise has been streamlined.
- Those national banks who are not the individuals from Bank for International Settlements would be qualified for enrollment as FPIs to draw in progressively abroad assets to the market.
- The FPIs are ordered into two classifications before it was two.
- SEBI said it would justify the system for issuance of participatory notes (P-notes).
- The board additionally explained on the obligation to value proportion, organizations need to keep up it as 2:1 to be qualified for buybacks anyway the Non-banking money related organizations (NBFC) arms would be excluded from the standard.
- To break down insider exchanging another informant component will be executed.
- Remunerating witnesses up to Rs. 1 crore for giving “believable and unique data” on insider exchanging.
- Shared assets are presently permitted to put resources into unlisted non-convertible debentures.
Reasons for Outflow of FPIs from India:
India is the fastest-growing country in the world and there are certain issues which stress the overall economic performance of the country.
One of the main challenges recently is the outflow of FPIs from India. Reasons for the outflow of FPIs are:
- Introducing Higher tax surcharge in the Budget 2019 by the government.
- Continue Depreciation of Indian Rupee
- The trade war between the U.S and China
- Reduced rating and default of NBFCs
- Rising of crude oil prices
Differences between FPI and FDI
- FPI gives speculator a chance to buy stocks, bonds or other money-related resources in an outside nation.
- For this situation, the financial specialist doesn’t effectively oversee ventures or organizations that issue speculation.
- It likewise doesn’t have authority overprotections or business.
- Interestingly, FDI gives the financial specialist a chance to buy direct business enthusiasm for the remote nation.
- The financial specialist additionally controls his fiscal speculations and effectively oversees the organization into which he puts cash.
- FPI is more fluid and less dangerous than FDI.
Conclusion:
- Facilitating of FPI standards could give a lift to the abroad interest in the nation which is a significant wellspring of financial development and improvement in India. These changed standards will make the administrative system more financial specialist neighbourly for FPIs and a multidimensional methodology is expected to determine the worries of FPIs and reasons of outpourings.
(TEST YOUR KNOWLEDGE)
Model questions: (You can now post your answers in the comment section)
Q.1) Consider the following statements with regard to Amazon Rainforest
- The Amazon rainforest produces approximately 20% of oxygen in the Earth’s atmosphere
- The largest rainforest in the world, the Amazon is a vital carbon store that slows down the pace of global warming.
- Wildfires in amazon forests have decreased by 44% compared to the same period last year due to el-Nino effect.
Which of the statements given above are correct?
- 1 and 2 only
- 2 and 3 only
- 1 and 3 only
- 1,2 and 3
Q.2) Consider the following statements
- The responsibility of identifying eligible families and issuing ration cards to them rests with Panchayats/Urban Local bodies
- The One Nation One Ration Card scheme helps the beneficiary to buy food grains from ration shops located in any part of the country
Which of the above statement(s) given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Q.3) Consider the following statements with regard to Sabka Vishwas Scheme
- The two main components of the scheme are dispute resolution and amnesty
- The scheme aimed at reducing tax litigation will be operationalised from September 1, 2019, till March 31, 2020.
Which of the above statement(s) given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
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