Daily News Analysis : 24 July 2024

Carbon Border Adjustment Mechanism (CBAM)

The forthcoming Carbon Border Adjustment Mechanism (CBAM) mooted by the European Union went against the spirit of the Paris Agreement as per the Economic Survey. CBAM is an European Union tariff on Carbon intensive products with the purpose to put a fair price on carbon emitted during the production of Carbon intensive goods.

Key Points:

A) The Carbon Border Adjustment Mechanism entails imposing tariffs on energy-intensive products that are brought into the European Union.B) The CBAM scheme is anticipated to be implemented starting from January 1, 2026.C) India’s exports of iron, steel, and aluminum products valued at $8.2 billion in 2022 saw 27% of these goods being sent to the EU.

MSME TEAM initiative

The Ministry of MSME recently launched MSME Trade Enablement and Marketing Initiative (MSME-TEAM Initiative). It is a sub scheme under the Central Sector Scheme “Raising and Accelerating MSME Performance (RAMP). The initiative is aimed at assisting five lakh MSMEs to onboard the Open Network Digital Commerce (ONDC) platform. The initiative is enabled for a period of three years upto March 2027.

Key Points:

A) The aim of the MSME-TEAM Initiative is to offer support to micro and small businesses nationwide.B) However, awareness workshops will be conducted preferably in Tier 2 and Tier 3 cities and MSME Clusters for greater outreach, especially among women and SC/ ST owned MSMEs.C) The MSME TEAM Initiative, being a sub-scheme, is for a period of three years upto March 2027.

Operational Guidelines released under PM Surya Ghar Muft Bijli Yojana

The Government of India recently launched operational guidelines for the implementation of incentives to DISCOMs under the PM Surya Ghar Muft Bijli Yojana. The scheme was launched in 2024 that aims to provide free electricity to households in India. The scheme will provide subsidy that will cover upto 40% of the cost of installation of solar panels on their roofs.

Key Points:

A) DISCOMs will be eligible for rewards according to their performance in increasing the grid-connected rooftop solar capacity beyond a certain level.B) DISCOMs are tasked with the role of State Implementation Agencies to oversee the availability of net meters, timely inspection, and commissioning of installations.

65th International Mathematical Olympiad

India has secured its best ever performance in the International Mathematical Olympiad 2024 since 1989. The six member Indian students team created history in the event held at Bath, UK. The team won 4 gold medals, 1 silver Medal and 1 honourable mention. The team was headed by Professor Krishnan Sivassubramaniam of the Department of Mathematics at IIT Bombay. The first IMO was held in 1959 in Romania.

Key Points:

A) A six-member team India has shattered records and rewritten its mathematical destiny at the 65th International Mathematical Olympiad (IMO) in Bath, United Kingdom.B) The young number wizards not only secured an unprecedented fourth position but also etched their name in the records of Indian mathematics history.C) This is the nation’s best performance since its debut in 1989, surpassing all previous records in terms of both rank and the number of gold medals won.

Beta Version of DIGIPIN

The Department of Post collaborated with IIT Hyderabad for developing a National Addressing Grid namely Digital Postal index number(DIGIPIN). The beta version  was launched for creating and sensing geo-location of addresses for public feedback. DIGIPIN will act as a strong and robust pillar of Geospatial Governance. 

Key Points:

A) The DIGIPIN is proposed to be fully available in the public domain and can be easily accessed by everyone.B) The DIGIPIN Grid system being an addressing referencing system, can be used as the base layer for other ecosystems, including various service providers and utilities, where addressing is one of the processes in the workflow.C) This system will act as a strong and robust pillar of Geospatial Governance, leading to enhancements in public service delivery, faster emergency response and a significant boost to logistics efficiency.

Indian Kalaripayattu Federation recognised as Regional Sports Federation

The Ministry of Youth Affairs and Sports have recently recognised Indian Kalaripayattu Federation as Regional Sports Federation. The move is aimed at promoting Kalaripayattu in the country. It is a traditional martial art practised in Kerala and is composed of two words namely kalari which means Place of Combat and Payattu which means Fighting in Malayalam. 

Key Points:

A) It is the duty of State Governments / UT Administrations to develop sports infrastructure for various sports, including Kalaripayattu, as sports fall under the jurisdiction of the State.B) The promotion of specific sports at the international level is overseen by the relevant international sports bodies that govern that particular sport.C) The Ministry has officially acknowledged the Indian Kalarippayattu Federation as the Regional Sports Federation responsible for promoting ‘Kalarippayattu’ within the country.

Cultural Mapping Mission

The Government of India has launched a Cultural mapping mission under the National Mission on Cultural Mapping (NMCM). The aim of the initiative is to provide an overview of the Cultural heritage of 6.5 lakh villages across India. The initiative also includes creation of National Registers of Artists and Art practices. The Scheme is administered by the Ministry of Culture. 

Key Points:

A) The project aims to create awareness about the strong connection between cultural heritage and development, and to preserve the cultural identity of rural communities.B) Additionally, it encompasses the establishment of National Registers for Artists and Art Practices, along with the design and implementation of a web portal and mobile application to function as a National Cultural Work Place (NCWP).C) The Census List of 2011, published by the Registrar General and Census Commissioner of India, has identified 45561 villages of Bihar, of which 36127 have been covered by the cultural mapping project. 

New strain of lactic acid bacteria discovered

A new strain of lactic acid bacteria namely MCC0200 was recently discovered by scientists at the Agharkar Research Institute (ARI) in India. The new strain was discovered while investigating the genetic makeup of a different strain of S.thermophilus. The new strain thrives in the gut and has antioxidant properties. 

Key Points:

A) MCC0200 demonstrates a robust attraction to intestinal surfaces, enabling it to engage with host cells and support gastrointestinal well-being.B) Furthermore, MCC0200 possesses antioxidant characteristics that may aid in mitigating damage caused by oxidative stress.C) Additionally, MCC0200 is capable of absorbing cholesterol, potentially contributing to the reduction of serum cholesterol levels and lowering the risk of cardiovascular disease.

Manolo Marquez appointed as Head coach of Indian Football team

The All India Football Federation (AIFF) executive committee recently appointed Manolo Maruez as the new head coach of the Indian Men’s Football Team. He is a Spanish national who manages FC Goa in the Indian Super League. He will replace Igor Stimac who was recently dismissed. 

Key Points:

A) He began his managerial career with PB Anguera in 2002.B) Manolo Marquez is a former defender from Spain who never played international football for his country.C) He has in fact never played in any of the highest levels of domestic football, having only played for lower division clubs by Horta, Martinenc and Badalona.

BCCI grants 8.5 crore to Indian Olympics Contingent

The BCCI Secretary Jay Shah announced the grant of 8.5 crore to Indian Olympic Association to support Indian Athletes at Paris Olympics 2024. The Indian Contingent comprises 127 athletes along with 140 strong support staff. The contingent includes 24 Armed Forces Personnel among 117 Indian athletes. 

Key Points:

A) Shah’s announcement came the Paris Games are set to begin from July 26.B) As many as 117 athletes will represent India at the Paris Olympics.C) There will also be 140-strong support staff, making it a 257-member contingent.
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