Daily News Analysis : 25 July 2024

FAO report on Global Forest Area Expansion

As per a new report released by Food and Agriculture Organisation (FAO), India secures third place in Global Forest Area Expansion. India has added more than 2 lakh hectares of Forest Area each year from 2010 to 2020. China and Australia lead the rankings.

[Image Source: Mint]

Key Points:

A) The report highlighted that China led with an increase of 1,937,000 hectares, followed by Australia with 4,46,000 hectares.B) Other nations in the top 10 include Chile, Vietnam, Turkey, the United States, France, Italy, and Romania.C) The FAO commended India for its initiatives in restoring degraded lands and expanding agroforestry through innovative methods. 

Israeli Parliament declares UNRWA a Terrorist Organization

The Israeli Parliament Knesset recently passed a bill declaring the UN Relief and Works Agency for Palestinian Refugees (UNRWA) as a Terrorist organisation. The Parliament accused UNRWA of working with Hamas in Gaza. UNRWA was established in 1949 to support Palestinian refugees. 

Key Points:

A) The latest vote against the United Nations Relief and Works Agency for Palestinian Refugees (UNRWA) shows continued Israeli efforts to attack the agency, which Israeli officials claim is working with the Islamist group Hamas in Gaza.B) The legislation passed the initial reading and will now be sent back to the foreign affairs and defence committee for additional discussion.

Mizoram’s Aizawl to have rail link

Mizoram capital Aizawl to become the 4th North Eastern capital to have rail link by July 2025. The Railway link will be developed at the cost of 8213.72 crore under the Bairabi-Sairang project. Currently Guwahati, Agartala and Naharlagun are connected to the Railway network.

Key Points:

A) Aizawl, Mizoram’s capital, will connect by rail by July 2025 via the Rs 8,213.72 crore Bairabi-Sairang project, involving tunnels, bridges, and four new stations.B) Started in 2008-2009, it tackles difficult terrain and monsoons.C) NFR’s efforts aim to reduce costs, boost tourism, and support local industries. 

India seeks licence from ISA to scout Pacific Ocean

India to seek licence from International Seabed Authority (ISA) for exploration of deep sea minerals in the Clarion clipperton Zone of Pacific Ocean. The plain is located between Hawaii and Mexico  and is known to hold large volumes of polymetallic nodules. ISA is a 169 member International organisation established in 1994. 

Key Points:

A) The International Seabed Authority (ISA), supported by the UN, has granted 31 licences for deep-sea exploration, with two of them going to India in the Indian Ocean. However, mining activities have not been authorized yet as the 36-member organization is still in the process of finalizing regulations.B) The 36-member ISA council is meeting in Jamaica this month to negotiate the latest draft of a mining code.C) China, Russia, and some Pacific Island nations have already secured exploration licences for the Pacific Ocean.

Climate Finance Taxonomy

The Finance Minister of India Shrimati Nirmala Sitharaman announced the development of a “Climate Finance taxonomy” while presenting the Union Budget for 2024-25. It will enhance the availability of capital for Climate Adaptation and mitigation thereby helping India achieve its climate commitments and green transition. 

Key Points:

A) Climate finance taxonomy refers to a set of standardised regulations and guidelines to inform companies and investors on making impactful investments towards environmental conservation and combating the climate crisis.B) This will support achievement of the country’s climate commitments and green transition.

Electric Mobility Promotion Scheme

With a budget outlay of 500 crores, the Electric Mobility Promotion Scheme(EMPS) of the Government of India will support upto 3.72 lakh Electric vehicles. The scheme will be implemented for a period of four months from April to July. The major aim of the scheme is to accelerate the adoption of Electric Vehicles in the country. 

Key Points:

A) The Electric Mobility Promotion Scheme 2024 supports 3.72 lakh EVs with Rs 493.55 crore from April to July.B) The Ministry of Heavy Industries targets 3,72,215 EVs including e-two-wheelers and e-rickshaws.C) EMPS 2024 promotes green mobility and EV manufacturing, with demand incentive and category-wise limits, supporting L5 vehicles sold and registered by July 31, 2024, or until funds deplete.

Birth anniversary of Chandrashekhar Azad observed on July 23

The Birth Anniversary of great Indian Freedom fighter Chandrashekhar Azad is observed annually on July 23. He was born in 1906 in the small village of Bhavra in Madhya Pradesh. He became an active member of Hindustan Republican association (HRA) and played a crucial role in transforming HRA into Hindustan socialist Republican Association (HSRA). 

Key Points:

A) Paying his homage, the Prime Minister said via social media that Azad was a fearless hero with unwavering courage and commitment to India’s freedom.B) Modi emphasized that the principles and beliefs of the freedom fighter still echo in the hearts and minds of countless individuals, especially the younger generation.

NPS VATSALYA

A new pension scheme under National Pension Scheme (NPS) called NPS VATSALYA was launched by the Government of India. The Scheme is designed to help parents and guardians plan for their children’s future financial needs. The funds will accumulate until the child turns 18 and the plan could be seamlessly converted into a non-NPS plan. 

Key Points:

A) The plan is unique because it has the feature of getting converted into a non-NPS plan once the child becomes the major account holder.B) With this plan, the parents and guardians are now empowered to plan pensions for their children at a very early stage.C) Under subsection 80CCD (1B), NPS subscribers can also claim an additional deduction for investments up to Rs. 50,000 in NPS (Tier I). 

Henley Passport Index 2024

India has ranked 82nd in the list of World’s most powerful passport countries released by Henley passport index. The Indian Passport grants its citizens visa free access to 58 countries. The index is sourced from the International Air Transport Association (IATA). Singapore has claimed the top spot as the world’s most powerful passport. 

Key Points:

A) Last year, India’s ranking was 80th, which is two spots up from current year’s ranking.B) In 2014, India was ranked 76th in the world and its passport provides entry visas to 52 countries.C) However, India’s performance on the Henley Passport Index has shown fluctuations over the years.

Utah’s Salt Lake City to host 2034 Winter Olympics

The International Olympic Committee in Paris has formally awarded the 2034 Winter Olympics to Salt Lake City. Utah gets its second game after hosting in 2002. Salt Lake City was the line contender the Olympic Committee was considering for 2034.

Key Points:

A) Salt Lake City was the lone contender the Olympic committee was considering for 2034.B) Climate change and high operational costs have reduced the number of cities willing and able to welcome the Winter Games. 
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