NATIONAL:
1. Non-Urea Fertilisers
Why in news – Ministry of Chemicals and Fertilizers brought fertilisers that receive nutrient-based subsidy (NBS) support under “reasonable pricing” controls.
Key Points –
• It includes di-ammonium phosphate (DAP), muriate of potash (MOP) and all other such fertilizers.
• MRPs of NBS fertilisers are market-determined and set by the individual companies selling them. (urea fertilizers – their MRP is fixed by the government).
• It has prescribed maximum profit margins that will be allowed for fertiliser companies – 8% for importers, 10% for manufacturers and 12% for integrated manufacturers.
Value Addition –
• At present, Urea is the only fertilizer with pricing and distribution statutorily controlled by Government.
• Subsidy on urea is paid on dispatch whereas NBS is paid on quantities sold.
2. Kudavolai Electoral System
Why in news – Tamil Nadu’s tableau in the Republic Day parade highlighted the historical significance of the Kudavolai electoral system.
Key Points –
• It emerged during the 10th century Chola era and marked an early stride towards democracy.
• It was used to elect representatives to run the village administration and voiced the collective will of the people to the empire.
• It is documented in the Uthiramerur inscriptions (Kanchipuram district).
• Kudavolai system was practised in Vaikunda Perumal Temple in Uthiramerur.
ECONOMY:
1. Interim Budget 2024
Why in news – FM Nirmala Sitharaman presented her 6th Budget on February 1.
Key Points –
• This was an ‘interim Budget’ since the term of the current government will end soon and the country will go to polls.
• An Interim Budget is presented by a government that is going through a transition period or is in its last year in office ahead of general elections.
Budget Speech Highlights –
(a) She referred to the ‘four castes’ i.e., the poor, the youth, women and farmers.
(b) Gross and net borrowings for 2024-25 are estimated at lower than the current financial year 2023-24. This will make available larger credit for the private sector.
(c) No changes were announced in direct or indirect tax rates.
(d) Fiscal deficit target for FY25 lowered to 5.1% of the GDP. (Current target – 5.9%).
(e) She stressed on 5 ‘Disha Nirdashak’ baatein –
I. Social justice as an effective governance model
II. Focus on the poor, youth, women, and the Annadata (farmers)
III. Focus on infrastructure
IV. Use of technology to improve productivity
V. High power committee for challenges arising from demographic challenges.
(f) India has had three consecutive years of 7% GDP growth and is the fastest growing economy in G20.
(g) GDP is Government, Development and Performance.
(h) The target for training ‘Lakhpati Didi’ would be increased from the existing 2 crore to 3 crore.
Sustainable Development/Green Energy –
• Viability gap funding for harnessing offshore wind energy for an initial capacity of one giga-watt.
• Setting up of coal gasification and liquefaction capacity of 100 MT by 2030.
• Phased mandatory blending of CNG, PNG, and compressed biogas for domestic purposes.
• Rooftop solarisation with one crore households.
• Adopt e-buses for public transport and strengthen the e-vehicle ecosystem.
• The Blue Economy 2.0 scheme will be launched to restore and adapt coastal aquaculture and mariculture.
2. Blue Economy 2.0
Why in news – The Interim Budget stressed on environment-friendly development through the promotion of ‘blue economy’.
Key Points –
• According to the World Bank blue economy is the “sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem.”
• For a country like India, with a long coastline, blue economy is highly significant.
• Restoration and adaptation will ensure the health of the oceans is not harmed while carrying out economic activities.
• Aquaculture is a broad term that refers to the farming of aquatic plants and animals.
• Mariculture refers to rearing and harvesting marine creatures in salt water.
• Finance minister also announced the setting up of five integrated aquaparks.
• Pradhan Mantri Matsya Sampada Yojana (PMMSY) would be stepped up –
(a) to “enhance aquaculture productivity from the existing 3 to 5 tonnes per hectare
(b) double exports to Rs 1 lakh crore
(c) generate 55 lakh employment opportunities in the near future.
SCIENCE – TECH:
1. Neuralink
Why in news – The first human patient has received a brain chip implant from Neuralink.
Key Points –
• It uses a robot to surgically place a brain-computer interface (BCI) implant in a region of the brain that controls the intention to move.
• The implants’ “ultra-fine” threads help transmit signals in participants’ brains.
• The first product from Neuralink would be called Telepathy.
• The startup’s PRIME Study is a trial for its wireless brain-computer interface to evaluate the safety of the implant and surgical robot.
• It would enable users to have "control of their phone or computer, and through them almost any device, just by thinking.
• BCIs can enable precise control of prosthetic limbs, giving amputees natural motor skills.
About Brain–Computer Interface (BCI) –
• BCIs allow to control an application or a device using only our mind.
• It has three main parts –
(a) A device to detect and record signals coming from the brain.
(b) A computer to process and analyze the recorded brain activity.
(c) An application/device to control.
ENVIRONMENT:
1. Status Report of Snow Leopards in India
Why in news – Ministry of Environment, Forest and Climate Change released the report on the “Status of Snow leopards in India”.
Key Points –
• It shows the snow leopard population of 718 individuals in India.
• It was carried out under Snow Leopard Population Assessment in India (SPAI) Program.
• Estimated population in different states are as follows -
Value Addition –
• Bishkek Declaration (2013) focuses on the Conservation of the Snow Leopard.
• Global Snow Leopard and Ecosystem Protection Program (GSLEP) is an alliance of all 12 snow leopard range countries and non-governmental partners.
• Conservation Status –
(a) IUCN - Vulnerable,
(b) Appendix I of CITES
(c) Schedule I of Wildlife (Protection) Act, 1972.
• It is state animal of Ladakh and Himachal Pradesh.
2. Plastic Credit Bond (PCB)
Why in news – World Bank and Citi launched $100mn Plastic Credit Bonds in Ghana and Indonesia.
Key Points –
• It is an innovative financial instrument that leverages private capital to address plastic pollution.
• It provides investors with a financial return linked to Plastic Waste Collection Credits, Plastic Waste Recycling Credits (referred collectively as plastic credits).
STATES/UTs:
1. LABHA (Laghu Bana Jatya Drabya Kraya) Yojana
Why in news – Odisha announced a state-funded minimum support price (MSP) scheme called LABHA.
Key Points –
• It will provide MSP for minor forest produce (MFP).
• Tribals who constitute 99% of primary collectors of MFPs will be able to sell the produce at collection centres.
• MFPs include all non-timber forest produce of plant origin including bamboo, brush wood, stumps, cane, tussar, cocoons, honey, wax, lac, tendu/ kendu leaves, etc.
• It also includes bamboo and cane, thereby changing the categorization of bamboo and cane as “trees” under the Indian Forest Act 1927.
BIHAR:
1. Union Budget 2024 and Bihar
Why in news – Focus on eastern states to augur well for Bihar.
Key Points –
• To address reduction in logistics cost through multi modal freight transportation, three rail corridors (energy/minerals/cement), port connectivity and high traffic density routes under PM Gati Shakti have been announced.
• This will also decongest traffic and improve safety and speed in transportation.
• Long-term interest-free loans for developing tourist centres will be beneficial for the state.
• Bihar has got an allocation of Rs 70,672 crores for railway projects.
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