DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 28th April 2023
Archives (PRELIMS & MAINS Focus) Oil hypocrisy Syllabus Prelims –Environment and Ecology Context: Recently, Oil hypocrisy of countries imposing sanctions on Russia came to the surface. About the Oil hypocrisy:- IMAGE SOURCE: DOWN TO EARTH Recent reports show that the countries that banned Russian oil imports(UPSCPrelims: Understanding EU ban on Russia’s Oil) instead imported oil commodities worth €42 billion from India, China, United Arab Emirates, Singapore and Turkey after the war started 2022. These five countries were thus identified as ‘laundromats’. The five countries are responsible for 70 per cent of Russia’s crude oil exports. India emerged as the leading exporter of refined oil products at 3.7 million tonnes to Price Cap Coalition countries in 2022. This is an increase of 0.3 million tonnes from the previous year. This was followed by China at three million tonnes and the United Arab Emirates at 2.9 million tonnes. The Price Cap Coalition comprising Australia, Canada, the European Union, Japan, the United Kingdom and the United States imposed a maximum price of $60 a barrel of oil transported by vessels owned or insured by some countries in the alliance to third-party countries, with the intention to dent Russia’s financing of the war(UPSCPrelims: Russia-Ukraine War impact, beyond oil). Since the beginning of the invasion, demand for Russian crude oil has increased significantly by China, India, Turkey, UAE and Singapore. The EU was the largest importer of oil products from these laundromat countries worth €17.7 billion, despite partially banning crude oil imports from Russia last year. This was followed by Australia (€17.7 billion), the USA (€6.6 billion), the UK (€5 billion) and Japan (€4.8 billion). MUST READ: The new energy disorder SOURCE: DOWN TO EARTH PREVIOUS YEAR QUESTIONS Q.1) The term ‘West Taxes Intermediate’, sometimes found in news to a grade of (2020) Crude oil Bullion Rare earth elements Uranium Q.2) In the Indian context, what is the implication of ratifying the ‘Additional Protocol’ with the ‘International Atomic Energy Agency (IAEA)’? (2018) Civilian nuclear reactors come under IAEA safeguards. The military nuclear installations come under the inspection of the IAEA The country will have the privilege to buy uranium from the Nuclear Suppliers Group (NSG). The country automatically becomes a member of the NSG. Mahila Samman Savings Certificate (MSSC) Syllabus Prelims –Governance Context: The Union Minister for Women and Child Development and Minority Affairs opened a Mahila Samman Savings Certificate (MSSC) account recently. About Mahila Samman Savings Certificate (MSSC):- IMAGE SOURCE: Mahila Samman Saving Certificate Form Interest Calculator – Sarkari Yojana – TheHowPedia Mahila Samman Savings Certificate Scheme was announced in the 2023-24 Union Budget (UPSCPrelims: Union Budget Summary 2023-24 ) to commemorate ‘Azadi Ka Amrit Mahotsav’. It is a one-time savings scheme(UPSCPrelims: Understanding Small savings schemes) for women. Objective: to empower women by increasing their participation in investments. It is a significant step towards financial inclusion and empowerment of women including girls. The two-year tenure scheme offers an attractive interest rate of 7.5 per cent compounded quarterly It will have flexible investment and partial withdrawal options with a maximum ceiling of Rs two lakh. The scheme is valid for a two-year period up to 31st March 2025. The scheme has been made available in all 1.59 lakh post offices from April 01, 2023. Deposit limits:- One can start investing in this scheme with a minimum amount of Rs. 1,000 or any other amount in multiples of Rs. 100. But one cannot make additional deposits after that. Under this scheme, one can open multiple accounts, but the maximum total investment should be Rs 2 lakh only. And each account opened should have a three-month gap between the opening date of the existing account and the new account. Eligibility Criteria:- The scheme is exclusively available to women. Any woman above 18 years of age can invest in this scheme by herself. Also, in the case of minors, the guardian can open the account on behalf of the girl. Tax Benefits of the Mahila Samman Savings Certificate:- No information has been provided by the government related to its taxability. Unless more details emerge, normal taxation as per the slab rate can be assumed for this scheme. MUST READ: Mission Shakti SOURCE: PIB PREVIOUS YEAR QUESTIONS Q.1) Which of the following statements is/are correct regarding the Maternity Benefit Amendment Act, 2017? (2019) Pregnant women are entitled to three months of pre-delivery and three months of post-delivery paid leave. Enterprises with creches must allow the mother minimum of six creche visits daily. Women with two children get reduced entitlements. Select the correct answer using the code given below. 1 and 2 only 2 only 3 only 1, 2 and 3 Q.2) With reference to the ‘stand up India scheme’, which of the following statement is/are correct? (2016) Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs. It provides for refinancing through SIDBI. Select the correct answer using the code given below. 1 only 2 only Both 1 and 2 Neither 1 nor 2 Nuclear liability law Syllabus Prelims –Governance Context: The issues regarding India’s nuclear liability law came to continue to hold up the plan to build six nuclear power reactors in Maharashtra’s Jaitapur. About Nuclear liability law:- IMAGE SOURCE: jaitapur nuclear power plant map – Brainly.in The laws on civil nuclear liability ensure that compensation is available to the victims for nuclear damage caused by a nuclear incident or disaster and set out who will be liable for those damages. The international nuclear liability regime consists of multiple treaties and was strengthened after the 1986 Chornobyl nuclear accident(UPSC Prelims: Place in news-Chornobyl). Convention on Supplementary Compensation (CSC): it is an umbrella convention adopted in 1997. Objective: Establish a minimum national compensation amount. India was a signatory to the CSC, Parliament ratified the convention in 2016. To keep in line with the international convention, India enacted the Civil Liability for Nuclear Damage Act (CLNDA) in 2010, to put in place a speedy compensation mechanism for victims of a nuclear accident(UPSC CSE: Understanding India’s Nuclear Doctrine). The
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