NATIONAL UPDATES:
1.
20th Edition of BioAsia 2023 scheduled in February 24-26: The 20th edition of
BioAsia 2023 will be hosted by the Government of Telangana, the premier event
of BioAsia 2023 for the life sciences and health tech, on February 24-26, 2023.
BioAsia 2023‘s logo and theme, “Advancing for ONE: Shaping the next generation
of humanised healthcare,” have been unveiled by Minister for Industries and
Commerce KT Rama Rao.
Hyderabad has been a significant hub for
the world over the past two decades in addition to being India’s centre for
healthcare and the life sciences and BioAsia 2023 will be held there. The city
enhanced its reputation during the COVID-19 pandemic by playing a crucial part
in providing vaccines that helped immunise the entire world, and will now host
BioAsia 2023.
About BioAsia 2023 Event:
a)
In
order to discuss the interdisciplinary topics of One Health, disruptive
technologies in healthcare, and accessibility and affordability in healthcare
for all, Shakthi Nagappan, CEO of BioAsia and Director (Life Sciences),
Government of Telangana, says that “Bio Asia 2023 will bring together leaders
in the life sciences and healthcare, academia, start-ups, regulators, and investors
on one stage”.
b)
The
BioAsia 2023 event will feature a start-up showcase where more than 100
carefully chosen health-tech entrepreneurs from around the globe can present
their ground-breaking solutions to urgent medical problems.
c)
With
a virtual attendance of around 37,500 attendees from about 70 countries,
BioAsia 2022 was a great success. BioAsia 2023 is expected to deliver the same
2.
Transgenders will be covered under Ayushman Bharat PM-JAY: According to the
government of India, transgenders will be brought under the ambit of Ayushman
Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY). The National Health
Authority (NHA) under Ministry of Health and Family Welfare and Department of
Social Justice and Empowerment has signed a Memorandum of Understanding (MoU)
to provide inclusive and composite health package for transgenders under
Ayushman Bharat-PMJAY. About the MoU:
a)
This
MoU between National Health Authority (NHA) and the Ministry of Social Justice
& Employment (MoSJE) will extend all healthcare benefits to transgender
persons (holding a transgender certificate issued by the National Portal for
transgender persons) across the country. MoSJE will fund Rs.5 lakh insurance
cover per transgender beneficiary per annum.
b)
As
part of the move, a comprehensive master package is being prepared for
transgenders, including existing AB PM-JAY packages and specific packages (Sex
Reassignment Surgery (SRS) and treatment).
c)
As
a result, transgenders will be eligible to seek treatment in any AB PM-JAY
empanelled hospitals across the country, where specific packages will be made
available. The scheme would cover all transgenders not receiving such benefits
from other centre/state sponsored schemes.
d)
The
ministry of social justice & empowerment has taken several initiatives for
the transgender community, be it “The Transgender Persons (Protection of
Rights) Act, 2019″, Garima Greh, PM Daksh, among others.
3.
IIT Guwahati developed technique for making sugar substitute “Xylitol”: Researchers at IIT
Guwahati have created a fermentation process that uses ultrasound to safely
generate Xylitol from sugarcane bagasse, the byproduct of crushing sugar cane.
This approach gets over the operational constraints of chemical synthesis and
the time lags of traditional fermentation. The use of ultrasound during the
fermentation process not only reduced the time of fermentation to 15 hours, but
also increased the yield of the product by almost 20%
Requirement for Safe Sweetners: There has been an
increase in the use of safe alternative sweeteners as awareness of the negative
effects of white sugar (sucrose) on individuals with diabetes and general
health has grown. A sugar alcohol generated from plants called xylitol may have
anti-obesogenic and anti-diabetic properties in addition to being a mild
prebiotic and guarding teeth against caries.
Advantages of this new procedure: The use of
ultrasound during the fermentation process not only reduced the time of
fermentation to 15 hours (as opposed to almost 48 hours in conventional
processes), but also increased the yield of the product by almost 20%,
according to Professor VS Moholkar, Department of Chemical Engineering, IIT
Guwahati.
4.
Godrej Agrovet signed agreements with Assam, Manipur, and Tripura for Palm Oil: Godrej Agrovet, a
diversified agribusiness conglomerate, announced that it has signed an MoU with
the governments of Assam, Manipur, and Tripura to advance and promote oil palm
growth in the area under the National Mission on Edible Oils-Oil Palm
initiative. The partnership between Godrej Agrovet and the state governments
will create new chances for expansion of oil palm plants in these states as
well as support for farmers. Key Points:
a)
The
Agreements are in keeping with Godrej Agrovet’s long-term goal to be the
driving force behind India’s oil mission by doubling farmer income and
promoting sustainable expansion of oil palm production.
b)
In
the entire nation, Godrej Agrovet has planted palm oil on over 65,000 acres. In
the upcoming years, Godrej Agrovet intends to raise this to 100,000 ha.
c)
Godrej
Agrovet’s six oil palm mills, which are dispersed around the nation,
manufacture a variety of goods, including crude palm oil, crude palm kernel
oil, and palm kernel cake.
d)
The
government had established the National Mission on Edible Oils-Oil in August
2021.
e)
With
a planned investment of Rs 11,040 crore, the Center launched NMEO-OP in August
2021 with the goal of increasing the oil palm area to 10 lakh hectares by
2025–26 and 16.7 lakh hectares by 2029–30, with a special emphasis on the
North-East and the Andaman and Nicobar Islands.
Note: Godrej Agrovet CEO: Adi Burjorji
Godrej
5.
India to have 1.8 lakh Kms of Highways & 1.2 lakh Kms of Rail Lines by
2025:
India is set to construct more railways and motorways in 2025. The length of all
national highways in India is anticipated to reach 1.8 lakh kilometres and the
railway lines would be 1.2 lakh kilometres by 2025 according to the report of
Bank of America Securities India. Years 1950 to 2025:
a)
Between
the years 1950 to 2015, 4000 kilometres of new national highways were
constructed in India and it was 77,000 kilometres in 2015. The expected
milestone which is for highways to reach 1.8 lakh kilometres by 2025, is more
than double the current length.
b)
In
1950, the railway network in India was only 10,000 kilometres of rail lines and
by 2015 there were 63,000 kilometres of railway lines. The milestone for 2025
is to make the railway network reach up to 1.2 lakh kilometres.
6. M
Venkaiah Naidu launched a book titled “A New India: Selected Writings 2014-19”: Former Vice
President, M Venkaiah Naidu has released a book titled “A New India: Selected
Writings 2014-19”, a compilation of selected articles of former Union Minister
and Padma Vibhushan Arun Jaitley on his death anniversary. The book has been
published by Juggernaut.
The essence of the book: In this book,
published posthumously Arun Jaitley offers the clearest, most authoritative
discussions on the policies of the BJP government of 2014–19. Surveying the
sweeping changes that the country has seen in the last five years: GST,
demonetisation, Kashmir – he is also prescient about the big political trends
in the country, such as the end of dynastic politics, the fissures among
regional powers and the crisis in the Congress party. Forcefully and astutely
argued, a new India is an important book, one that comprehensively maps and
explains the BJP’s reforms and analyses the state of the nation.
INTERNATIONAL UPDATES:
1.
Colonel Abdoulaye Maiga elected as interim PM of Mali: In Mali, the
military has appointed Colonel Abdoulaye Maiga as interim Prime Minister after
the country’s civilian PM Choguel Kokalla Maiga was admitted to hospital.
Before this appointment, Colonel Maiga was working as a Government Spokesman
and Minister of Territorial Administration and Decentralisation.
Choguel Kokalla was named premier after the
military took power in August 2020. In recent months, Maiga had come under
criticism from many of his former allies for following the Junta’s line.
Military Junta leader Colonel Assimi Goita had himself appointed transitional
president after the May 2021 coup.
Note: Mali Capital: Bamako; Mali Currency:
Franc.
2.
World’s first fleet of hydrogen passenger trains by Germany: The world’s first
fleet of hydrogen-powered passenger trains was launched by Germany. The first
fleet of hydrogen-powered passenger trains has replaced 15 diesel trains that
were previously operated on nonelectrified tracks in Lower Saxony, Germany. The
engine of the trains is powered by electricity generated using hydrogen fuel
cells.
The use of hydrogen is a clean alternative
to fossil fuels as per the German government’s announcement. The state governor
Stephan Weil said that Lower Saxony has invested a total of 93 million euros
for the first fleet of hydrogen-powered passenger train projects. This
invitation is an excellent example and effort to make the economy of Germany
greener.
Key Points:
a)
Alstom
is a French company that manufactures trains, and these trains are operated by
regional rail company LNVG on routes between the Northern towns of Cuxhaven,
Bremerhaven, Bremervoerda, and Buxtehude.
b)
These
trains have ranges up to 1000 kilometers and a maximum speed of 140 kph. After
the introduction of the first fleet of hydrogen-powered passenger trains, the
hydrogen produced with renewable energy the trains will save up to 1.6 liters
of diesel in a year.
c)
For
now, hydrogen is produced as a byproduct of chemical processes, however, the
German Specialty Gas Company Linde, plans to manufacture hydrogen using only
renewable energy in the coming years.
3.
17-year-old pilot Mack Rutherford sets record for solo flight around world: A 17-year-old
pilot, Mack Rutherford became the youngest person to fly solo around the world
in a small aircraft after he landed in Bulgaria, where his journey kicked off
five months ago. Mack Rutherford, a Belgian-British dual national, landed on an
airstrip west of Bulgaria’s capital, Sofia, to complete his task and claim two
Guinness World Records. Along with becoming the youngest person to fly around
the world by himself, Rutherford is the youngest person to circumnavigate the
globe in a microlight plane. About her journey:
a)
Mack
Rutherford took the age record from Travis Ludlow of Britain, who was 18 when
he made a solo flight around the world last year. The journey, which began
March 23, took Rutherford through 52 countries over five continents.
b)
He
turned 17 during the trip. To set a mark recognized by the Guinness World
Records, he crossed the equator twice.
c)
The
flight took him through Africa and the Gulf region to India, China, South Korea
and Japan. He crossed the northern Pacific and landed after 10 uninterrupted
hours in the air on a volcanic island near the Bering Strait.
OTHER UPDATES:
BANKING AND FINANCE
1.
American Express Praises RBI’s Decision to Ease Restrictions: American Express
Banking Corp. praised the Reserve Bank of India’s (RBI) decision to ease
restrictions on the firm so that it may accept new domestic clients as the
consequence of the company’s large local investments in technology,
infrastructure, and resources.. American Express will now be able to add new
Indian clients to its card network thanks to the easing of the embargo.
RBI esases Restrictions on American
Express:
a)
The
restrictions imposed by order dated April 23, 2021 on the onboarding of new
domestic customers of American Express have been lifted with immediate effect
by RBI.
b)
In
view of the satisfactory compliance demonstrated by American Express Banking
Corp with the Reserve Bank of India (RBI) circular dated April 6, 2018, on
storage of Payment System Data, the restrictions imposed have been lifted.
c)
Due
to non-compliance with the RBI circular on the storage of payment system data,
the RBI placed restrictions on American Express Banking Corp ability to onboard
new domestic clients onto its card network as of May 1, 2021, by order dated
April 23, 2021.
RBI Restrictions Affect: Prior to these
restrictions, Mastercard and Diners Club International were also affected. In
November of last year, Diners Club’s restriction was withdrawn, while
Mastercard’s restriction was lifted just last month. Since October 2018,
financial services firms like Visa, Mastercard, American Express, and Diners
Club have had to keep Indian payment data locally in accordance with RBI
regulations.
BUSINESS AND ECONOMY
1.
ICRA expects Indian GDP to grow by 12-13% in Q1-FY23: Rating agency ICRA
(Investment and Credit Rating Agency of India Limited) predicted that the
Indian economy will grow 12–13% in the first quarter (Q1) of the new fiscal
year, i.e. FY23. ICRA gave this rating citing the second-highest reading of the
business activity index in 13 months in April. However, ICRA has kept its
annual GDP prediction at 7.2% for this fiscal year, citing concerns over
inflation and the ensuing tightening of RBI policy. Key Points:
a)
Particularly
on an annualised basis, this rapid growth may continue into May, which should
result in a double-digit GDP growth of 12–13% in the first quarter according to
ICRA.
b)
ICRA
Chief Economist, Aditi Nayar stated that the consumer price index is
anticipated to average between 6.3 and 6.5 percent this fiscal, citing growing
inflation concerns.
c)
The
impact of the war in Ukraine and the skyrocketing cost of fuel present the
greatest upside risks to inflation and growth. The damage will be far greater
than expected if the war does not deescalate soon.
d)
This
is also the main justification for keeping the full-year GDP growth forecast
low at 7.2% and the one on a low base effect higher at 3%.
e)
On
the subject of interest rates, Nayar stated that the central bank will likely
increase rates by 25 basis points each in the policy reviews in June and
August, and that the decision to take action in September will depend on the
course of the war and how it affects commodity prices.
AWARDS AND HONOURS
1.
Former German chancellor Angela Merkel wins Unesco Peace Prize 2022: Former German
chancellor Angela Merkel has been awarded the Unesco Peace Prize 2022 for “her
efforts to welcome refugees”. In the summer of 2015, as refugees were streaming
into Europe, Merkel opened her country’s borders and famously declared to
Germans “Wir schaffen das”, “We can do this.” She eventually pulled back on her
pro-immigration stance as support eroded among the public and within her own
conservative party. All the members of the jury were touched by her courageous
decision in 2015 to welcome more than 1.2 million refugees, notably from Syria,
Iraq, Afghanistan and Eritrea.
About the Unesco Peace Prize: The honour, which
is officially called Felix Houphouet-Boigny-Unesco Peace Prize, is named after
the former president of Ivory Coast. It has been awarded each year since 1989
to individuals, organisations or institutions that have made a special effort
to promote, research or secure peace. It is awarded annually. The prize
includes a cheque of USD 150,000, a gold medal and a peace diploma. If there
are multiple recipients, the cheque is shared equally.
Note: UNESCO Founded: 16 November 1945; UNESCO Headquarters: Paris, France; UNESCO Members: 193 countries; UNESCO Head: Audrey Azoulay.
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