11th May, 2022 Current Affairs

Sakshi Education

NATIONAL

Supreme Court stays 152-year old sedition law till review by Government

The Supreme Court ordered that the 152-year-old sedition law under Section 124A of the Indian Penal Code should be effectively kept in abeyance till the Union Government reconsiders the provision.
In an interim order, the Court urged the Centre and the State governments to refrain from registering any FIRs under the said provision while it was under re-consideration.
A bench comprising the Chief Justice of India NV Ramana, Justice Surya Kant, and Justice Hima Kohli held that all pending cases, appeals, and proceedings with respect to charges framed under Section124 A be kept in abeyance. Adjudication with respect to other sections may proceed with no prejudice being caused to the accused, it held.
The Court also held that those already booked under Section 124A IPC and are in jail can approach the concerned courts for bail. It has also been ruled that if any fresh case is registered, appropriate parties are at liberty to approach courts for appropriate relief, and courts are requested to examine the relief sought to take into account the order passed by the court.
These directions will be in force until further orders.

SEBI formed Advisory Committee for ESG-related matters

The Securities and Exchange Board of India (SEBI) has constituted a committee for advising on Environmental, Social and Governance (ESG) related matters in the securities market. The committee will be chaired by Navneet Munot, the Chief Executive Officer (CEO) of HDFC Mutual Fund.

Committee is for what?

The terms of reference of the committee include Enhancements in business responsibility and sustainability report, ESG ratings, and ESG investing. It will examine evolving disclosures/metrics relevant to the Indian context and suggest areas for assurance and a plan for implementation.

Other Members:

They include MD & CEO of Tata Chemicals, C Siva Kumar, executive director of NTPC, Amit Talgeri, chief risk officer, Axis Bank, Sharad Kalghtagi, ESG head Cipla, Amit Tandon, Institutional Investor Advisory Services, J N Gupta, founder & MD of Stakeholders Empowerment Services, Rama Patel, Director Crisil Ratings and Ramnath.

India unanimously elected as new Chair of Association of Asian Election Authorities for 2022-2024

India has been unanimously elected as the new Chair of the Association of Asian Election Authorities (AAEA) for 2022-2024 at the recently held meeting of the Executive Board and General Assembly in Manila, Philippines.
The Election Commission of India's three-member delegation headed by Deputy Election Commissioner Nitesh Vyas, along with CEO Manipur Rajesh Agrawal and CEO Rajasthan Praveen Gupta, attended the Executive Board meeting in Manila.
The mission of the AAEA is to provide a non-partisan forum in the Asian region for sharing experiences and best practices among election authorities to discuss and act upon ways to promote open and transparent elections with the objective of supporting good governance and democracy.

INTERNATIONAL

Vietnam opens world’s longest glass-bottomed bridge

World’s Largest Glass Bottom Bridge was opened in Vietnam. It is called as Vietnam’s Bach Long pedestrian bridge, which is 632m (2,073ft) long and located 150m (492ft) above a huge jungle.
As per the reports, the Asian country has opened a glass-bottomed bridge suspended above a lush jungle. It surpasses a 526m Glass Bottom Bridge in Guangdong, China.
Bach Long translates to “white dragon,” a pretty apt name for the bridge, given its appearance. The enormous structure connects two mountains; at one end sits the Chim Than Cave, where natural stalactites associated with the legend of the bird god can be found.
Vietnam is hoping the bridge will help bring tourism back to the country, with risk-taking travelers jumping at the chance to experience the thrilling journey across it.

WEF to focus on innovative technology to assist small and marginal farmers

The World Economic Forum (WEF), in collaboration with the government’s research institute NITI Aayog, is focusing on how to better employ emerging technologies like artificial intelligence (AI), the Internet of Things (IoT), blockchain, and drones to aid farmers, especially small and marginal farmers.
In India, a plethora of high-potential innovations have arisen to solve these issues, with some proving proof of concept.
India is well positioned to scale up these technologies. India’s rapidly evolving agricultural technology landscape reflects innovators, investors, and adopters who can develop, test, and adopt solutions at scale, with 560 million internet users (50 percent in rural areas), high smart phone penetration, and an AI market valued at $6.4 billion (16 percent of the global AI market).

Madagascar: Prasar Bharati, ORTM sign MoU on cooperation and collaboration in Broadcasting

A memorandum of understanding (MoU) on cooperation and collaboration in Broadcasting between Prasar Bharati and ORTM (Office de la Radio et de la Television) was signed in Madagascar’s capital Antananarivo.
It was signed by India’s Ambassador to Madagascar Abhay Kumar and ORTM Director-General Mr. BELALAHY Jean Yves. The ceremony was graced by the Director of Cabinet of the Ministry of Communication and Culture and representatives of the Government of Madagascar.
Madagascar National Television (TVM) will broadcast programmes from internal productions of Prasar Bharati in the fields of culture, education, science, entertainment, sports, news as well as other areas of mutual interest.
Both sides will explore co-production opportunities related to matters of mutual interest and will arrange training for TVM personnel in India. The MoU enters into force on the date of its signature.
The Indian Ambassador said, the MoU aims at the exchange of Programmes, exploring co-production of Programmes and Training and Exchange of Personnel.

India-Oman Joint Commission Meeting to be held in New Delhi

The India-Oman Joint Commission Meeting will be held in New Delhi.
The meeting will be co-chaired by Commerce and Industry Minister Piyush Goyal and Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman Qais bin Mohammed al Yousef.
A high-level multi-sectoral delegation led by Qais bin Mohammed al Yousef is visiting India. The 48 members delegation includes senior officials and business representatives from diverse areas spanning health, mining, tourism, telecommunication, energy, shipping, and real estate.
The visit of the Omani delegation comes at a prime time when the bilateral trade between the two countries has grown by 82 percent to reach 9.94 billion dollars in 2021-2022. The visit will provide an excellent opportunity to renew and further strengthen the close and dynamic economic ties between the two countries.

Science and Technology

Green Satellite Propulsion tested by Bellatrix Aerospace

Bengaluru-based Bellatrix Aerospace has successfully tested an environmentally friendly satellite propulsion system that offers a 20 percent increase in fuel efficiency over hydrazine-dependent fuel systems.
Bellatrix’s recent testing of its green propulsion system also signals a turning point in the company’s quest to develop a space taxi for satellites.
Satellite thrusters use the poisonous substance hydrazine, which has a negative influence on the environment prompting space experts to look for environmentally friendly replacements.
According to a press statement from ISRO, the union cabinet approved two unmanned missions and one crewed mission as part of the Rs. 9,023-crore Gaganyaan project.
Should green propellants be explored for human flight missions, they would result in faster processing times and fewer handling needs, both of which are key roles in a crewed human flight mission.
ISRO has said that it will strive to employ green fuels in all future flights, and the green fuel recently tested by Bellatrix Aerospace is particularly promising, offering both safe handling and superior performance over harmful substances such as hydrazine.
Green propulsion research is critical since the world is rapidly moving toward green chemistry, and keeping up with the latest advances is critical for our country.

ECONOMY

NSO survey: Unemployment rate of India at 8.7% in October-December 2021

The National Statistical Office (NSO) data has revealed that the unemployment rate for people above 15 years in urban areas slipped from 10.3% to 8.7% between October and December 2021.
Joblessness or unemployment rate (UR) is defined as the percentage of unemployed persons in the labor force.
Among males, the unemployment rate in urban areas also dipped to 8.3% in October-December 2021 compared to 9.5% a year ago. It was 9.3% in July-September 2021.
The data also showed that the joblessness or unemployment rate among females (aged 15 years and above) in urban areas also declined to 10.5% from 13.1% in the same period. It was 11.6% in July-September 2021.
Labor force participation rate in CWS (current weekly status) in urban areas for persons 15 years of age and above remained unchanged at 47.3% in the October-December quarter of 2021, compared to the same period a year ago. It was 46.9% in July-September 2021.
Labor force refers to the part of the population which supplies or offers to supply labor for pursuing economic activities for the production of goods and services.
The work Population Ratio in urban areas for persons of age 15 years and above stood at 43.2% in October-December 2021, up from 42.4% in the same period a year ago. It was 42.3% in July-September 2021.

APPOINTMENTS

Yoon Suk-yeol takes oath as South Korea’s new president

Yoon Suk-yeol was sworn in as South Korean president in a huge ceremony at Seoul’s National Assembly, taking office at a time of high tensions with nuclear-armed North Korea.
The ceremony was attended by over 40,000 people, including officials from the US and China.
The new president is facing several challenges, including the task to balance ties with China to defuse ongoing tensions with North Korea.
Yoon Suk-yeol, who has called North Korea the South’s “main enemy,” offered to work with the international community to craft an “audacious plan” to improve North Korea’s economy in return for its commitment to “complete denuclearization.” The 20th president of the country delivered an inauguration speech vowing to build a nation that “truly belongs to the people.”

Published date : 11 May 2022 06:17PM