News In Short-26-09-2024

Asia Power Index, 2024

Syllabus: GS2/ Foreign Affairs

In News

• India has become the third most powerful nation in Asia, surpassing Japan in the Asia Power Index.
  • USA and China have been ranked at 1st and 2nd place, respectively

About Asia Power Index

• Launched by: Lowy Institute in 2018.
• Scope: It is an annual measure that examines power dynamics in the Asia-Pacific region.
• Coverage: The Index evaluates 27 countries across the region, analyzing their ability to shape and respond to their external environment.
• Objectives: A country’s overall power score is derived from a weighted average of 8 measures, which are divided into resource-based and influence-based determinants, encompassing 131 individual indicators.
  • The Asia Power Index provides valuable insights into the geopolitical landscape of the Asia-Pacific region, highlighting the growing influence of countries like India.

Source: AIR

Clause 6 of the Assam Accord

Syllabus: GS2/Polity

Context

• The Chief Minister of Assam mentioned the implementation of 52 recommendations of the Justice Biplab Sarma Committee regarding Clause 6 of the Assam Accord.

About

• The Assam Accord was a Memorandum of Settlement between the Union government and the leadership of the All Assam Students’ Union (AASU), which was signed in 1985. 
• The accord ended the six-year-long agitation in Assam against the entry of Bangladeshi migrants into the state.
• Clause 6 of the accord states that “Constitutional, legislative and administrative safeguards, as may be appropriate, shall be provided to protect, preserve and promote the cultural, social, linguistic identity and heritage of the Assamese people.”
• In 2019, the Union Home Ministry constituted a committee chaired by retired Assam High Court Justice Biplab Kumar Sarma, to suggest ways to implement the clause. 
  • Among the key questions before the committee was a definition of the Assamese people eligible for the safeguards under Clause 6.
• Based on this, the committee made several recommendations for reservations for Assamese people, including in Parliament, the state Assembly, local bodies, and jobs.

Source: IE

Quality Control Order (QCO) for Medical Textiles

Syllabus: GS2/Health

Context

• The Ministry of Textiles has introduced a Quality Control Order for Medical Textiles to enhance Public Health and Safety.

About

• This regulation establishes stringent quality standards for critical medical textile products, including sanitary napkins, baby diapers, reusable sanitary pads, and dental bibs.
  • It is aimed at ensuring that these products consistently meet essential quality benchmarks. 
• The notified specifications cover critical performance criteria such as pH levels, hygiene testing, bacterial and fungal bioburden, biocompatibility evaluations, and biodegradability.
  • There is a strong emphasis on testing for phthalate levels in baby diapers, as these chemicals can pose risks to both the users and the environment.
• Compliance with these standards will be legally required, with non-compliance potentially leading to fines and other penalties. 
• The implementation of the QCO is part of the government’s comprehensive strategy to enhance the quality and safety of essential consumer products. 

Source: PIB

Priority Sector Lending

Syllabus: GS3/ Economy

Context

• A study by RBI economists reveals that priority sector lending (PSL) improves banks’ asset quality.

What is Priority sector lending?

• Priority Sector Lending (PSL) is a Reserve Bank of India (RBI) initiative that requires banks to lend a certain percentage of their funds to sectors that may not otherwise receive enough credit. 
• The goal of PSL is to support the all-round development of the economy by providing credit to sectors that are important for development or have difficulty getting loans
• The RBI periodically updates the sectors that are eligible for PSL, as well as the loan limits.
  • The sectors that are eligible for PSL include: Agriculture, Micro, Small, and Medium Enterprises (MSMEs), Export Credit, Education, Housing, Social Infrastructure, Renewable Energy.
• In case, banks fail to meet their PSL targets, they have to deposit the allocated amount to the Rural Infrastructure Development Fund (RIDF) established with NABARD and to other funds as decided by the RBI

Source: ET

ADB Raises Inflation Forecast for India

Syllabus: GS 3/ Economy 

In News  

• The Asian Development Bank (ADB) forecasts that India’s GDP will grow by 7.0% in FY2024 (ending March 2025) and 7.2% in FY2025.

About the Forecast 

• Inflation Projections: ADB raised India’s retail inflation forecast for 2024-25 to 4.7%, up from 4.6%, citing elevated food prices.
  • The forecast for 2025-26 remains unchanged, expecting core inflation to rise as food inflation moderates.
• Monetary Policy Outlook: ADB does not expect an immediate cut in interest rates, contrary to some agencies’ expectations of a rate cut by the Reserve Bank of India (RBI) by October.
  • Monetary policy is expected to become less restrictive, but only after food price pressures ease.
• Impact of Elevated Food Prices:High food prices, despite increased imports and higher output expectations, have delayed the RBI’s move towards more accommodative monetary policy.
• GDP Growth Outlook:ADB maintains India’s GDP growth projection at 7% for 2024-25 and 7.2% for 2025-26.
• Industrial and Agricultural Outlook: Industrial growth has slowed due to rising input costs affecting manufacturing margins, though mining and construction saw gains.
• ADB expects La Niña to boost India’s agricultural output, particularly for rice, wheat, and sugarcane.
• Potential Risks: Geopolitical and weather-related shocks may affect global supply chains and agricultural output.

About Asian Development Bank (ADB) – It was established in 1966 and is a regional development bank that aims to promote a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while focusing on eradicating extreme poverty.  – ADB offers loans, technical assistance, grants, and equity investments to its member countries to support their social and economic development. – India is a founding member and the fourth-largest shareholder in ADB. – ADB supports India’s priorities for climate-resilient and inclusive growth, aligned with its Strategy 2030 and the country partnership strategy (2023–2027). – Headquarters: Manila, Philippines

Source : TH 

Women in Space Leadership Programme

Syllabus: GS3/ Science and Technology

Context

• A Women in Space Leadership Programme (WiSLP) was launched by the Department of Science and Technology (DST) in collaboration with the British Council.

About

• It was launched as part of the UK-India Education and Research Initiative (UKIERI).
• The initiative focuses on supporting institutions in strengthening gender-inclusive practices to foster women’s leadership in space sciences by developing a strategic leadership framework. 

Implementation of WiSLP

• The programme will aid 250 early career researchers to become better equipped to take up leadership roles and navigate gender biases and associated barriers.
• The programme is underpinned by three foundational pillars:
  • Intersectionality or understanding of different aspects of women’s identities;
  • Collaborative culturally sensitive approaches that respond to opportunities and challenges in India;
  • Using leadership theory from both social science and STEM to support female scientists to become more confident about their leadership abilities.

Source: PIB

Central Silk Board

Syllabus: GS3/ Agriculture

In News

• Union Minister of Textiles, Shri Giriraj Singh, unveiled a commemorative coin celebrating the Platinum Jubilee of the Central Silk Board (CSB) at Mysuru.

About Central Silk Board

• The Central Silk Board (CSB) is a statutory body established in 1948 under an Act of Parliament. 
• It operates under the Ministry of Textiles and plays a crucial role in the development of India’s silk industry.
• The CSB advises the Government of India on all matters concerning sericulture (silk farming) and the silk industry.
• Headquarters:  Bengaluru, Karnataka

Silk Production in India

• India is the 2nd largest producer of Silk in the World.
• India is the only country in the world that produces all four major varieties of silk – Mulberry, Eri, Tassar, and Muga.
• South India is the leading silk producing area of the country and is also known for its famous silk weaving enclaves like Kancheepuram, Dharmavaram, Arni, etc.

Source: PIB

Differential Rotation of the Sun

Syllabus: GS 3/Space 

In News 

• Astronomers mapped the variation in the Sun’s chromosphere rotation speed from the equator to the poles using 100 years of data from the Kodaikanal Solar Observatory.

Data Source and Technique:

• Indian Institute of Astrophysics (IIA) astronomers used solar plages and network features from daily Sun records at 393.3 nm (Calcium K spectral line).
  • These features allowed them to measure rotation speed even at the poles, unlike sunspots.
• The 100-year-long data from Kodaikanal Solar Observatory has been digitized, enabling detailed analysis of chromospheric features.

Sun’s Differential Rotation:

• The Sun rotates at different speeds at different latitudes: the equator rotates faster (25 days) than the poles (35 days).
• This differential rotation is key to understanding the solar dynamo, the 11-year solar cycle, and solar magnetic storms.
• Discovery:Differential rotation was first discovered in the 19th century by Carrington, but earlier methods were limited in studying latitudes above 35 degrees.
• Findings on Rotation Rates:The rotation rate was faster at the equator (13.98 degrees/day) and slower towards the poles (10.5 degrees/day at 80 degrees latitude).
  • Both plages and network features showed similar rotation rates, suggesting a common origin possibly rooted deep inside the Sun.

Plages and Networks:

• Plages are bright regions in the chromosphere, larger than sunspots, with weaker magnetic fields.
• Network cells are slightly larger than sunspots and have weaker magnetic fields, present continuously across the Sun’s surface.

Significance of the Study:

• This is the first time chromospheric network cells have been used to map the Sun’s rotation across its entire surface.
• The findings are crucial for understanding the Sun’s magnetic field and activity.

Source:PIB