NATIONAL:
1. Bharat Ratna
Why in news – Bharatiya Janata Party (BJP) leader LK Advani will be conferred with the prestigious Bharat Ratna.
Key Points –
• It will be given for his decades-long service in public life, an unwavering commitment to transparency and integrity and setting an exemplary standard in political ethics.
• He has made unparalleled efforts towards furthering national unity and cultural resurgence.
Value Addition –
• The Bharat Ratna, India’s highest civilian award, is conferred in recognition of “exceptional service/performance of the highest order”
• It was instituted in 1954.
INTERNATIONAL:
1. 'Maori Haka'
Why in news – Youngest New Zealand parliamentarian performed the ‘Maori haka’ in the Parliament.
Key Points –
• Hana-Rawhiti Maipi-Clarke (21-year-old) is a member of the Maori community and the youngest MP in 170 years.
• Haka was a customary way to greet visiting tribes, while also serving as a means to energise warriors before battle.
• Haka is executed in a group.
• It comprises “chanting, vigorous movements like stamping, hand gestures, and facial expressions”.
2. Maritime Piracy
Why in news – Recently, the Indian Navy thwarted two piracy attempts off the Somali coast within a span of 36 hours.
Key Points –
• The term ‘piracy’ is used to describe a range of crimes from petty theft from ships at sea or anchorage to armed robbery and hijacking of a ship for ransom.
• In recent years, waters off the west coast of Africa, the Gulf of Aden, Horn of Africa, Bangladesh, and the Strait of Malacca have seen attacks by pirates.
Why these areas are vulnerable to piracy –
(a) These sea areas are poorly policed. The coastal countries have weak maritime forces, or none at all.
(b) Being choke points, these areas normally have concentrations of shipping traffic where ships are forced to converge or slow down.
(c) Ships remain stationary for days before entering port.
(d) Turmoil on land close to these areas leads to unemployment, poverty and consequently, crime.
(e) These areas are long stretches of sea that fall within the maritime jurisdiction of several countries. (legal complexities and difficulties in coordination).
India’s Role –
(a) The Indian Navy has been among the most proactive forces deployed in the troubled area off the Horn of Africa and the Gulf of Aden.
(b) The Indian Navy has never shied away from intervening in any developing situation and has foiled several attempts by pirates at hijacking merchant ships.
(c) The boundaries of the high-risk area that covered much of the Arabian Sea during the height of Somali piracy (2009-12) were pushed back westward primarily due to the efforts of the Indian Navy.
3. BRICS Expansion
Why in news – Five countries officially joined the BRICS.
Key Points –
• New members Saudi Arabia, Egypt, Ethiopia, Iran, and the UAE confirmed the invitation to join the BRICS Club of Nations.
• 5 countries have accepted the invitation to join the BRICS club of Nations at Johannesburg Summit 2023.
• Argentina has decided to not join BRICS.
• The last expansion of the BRICS occurred in 2010 when South Africa joined the group.
• Russia is the current chair of BRICS.
ECONOMY:
1. Forex Reserves
Why in news – India’s forex reserves increased USD 591 million to USD 616.733 billion for the week ended January 26.
Key Points –
• It included –
(a) Foreign currency assets (USD 546.144 billion)
(b) Gold reserves (USD 47.481 billion)
(c) Special Drawing Rights (SDRs) (USD 18.248 billion)
(d) India’s reserve position with the IMF (USD 4.86 billion)
• It had reached an all-time high of USD 645 billion in October 2021.
• The main elements of forex reserves in India include foreign currencies, gold reserves, special drawing rights, and the reserve portion in IMF.
2. Interim Budget 2024-25
Why in news – Finance Minister Nirmala Sitharaman presented the Union Budget for the next financial year (2024-25).
Key Points –
• An interim budget is presented in an election year (not like regular yearly budget).
• Like the Union budget, the interim budget too is debated in Lok Sabha before passage.
• It is valid for the entire year though it is merely a transition arrangement (usually 2-4 months).
• An interim Budget conventionally is also called a ‘vote-onaccount’ because it serves as an authorisation to incur specific expenditures which is necessary till a new government comes to power.
• Under Article 116, a vote-on-account is an upfront allocation of grant from ‘Consolidated Fund of India’ to government to address immediate expenditure needs.
3. Crude Oil Benchmarks
Why in news – Crude oil is headed for the biggest weekly loss since early November 2023.
Key Points –
• Both Brent crude and West Texas Intermediate (WTI) settled more than 2% lower due to ceasefire reports between Israel and Hamas.
• Brent Crude originates from oil fields in the North Sea, while West Texas Intermediate is sourced from U.S. oil fields.
• Brent Crude is the international benchmark used by the OPEC and also India.
• Dubai-Oman benchmarks is used as a benchmark for Gulf crudes (Saudi Arabia, Iran, Iraq, the UAE, Qatar and Kuwait) sold in the Asia-Pacific market.
ENVIRONMENT:
1. Ramsar Convention
Why in news – 5 Indian wetlands added to the global list of wetlands of international importance under Ramsar convention.
Key Points –
• With this, India’s Ramsar Sites rose to 80.
• New addition –
Value Addition –
• Ramsar Convention (1971) is an intergovernmental treaty that provides a framework for the conservation and wise use of wetlands and their resources.
• India ratified this Convention in 1982.
• Tamil Nadu (16 sites) has the maximum number of Ramsar sites followed by (10 sites).
• The total area covered under the Ramsar site in India is now 1.33 million ha.
IMPORTANT DAYS:
1. World Wetlands Day 2024
Why in news – The World Wetlands Day is observed on February 2 to commemorate the signing of the Ramsar Convention on Wetlands of International Importance in 1971.
Key Points –
• The Ministry of Environment, Forest & Climate Change (MoEF&CC) organized a national event at Sirpur Lake, Indore.
• Theme - Wetlands and Human Wellbeing.
Value Addition –
• Wetlands are areas of marsh or peatland with water that is static or flowing, fresh, brackish or saline, including areas of marine water the depth of which at low tide does not exceed 6 m.
• Wetlands are transition zones (ecotone) between terrestrial and aquatic ecosystems.
• Waterlogged soil adapted plant life (hydrophytes), and hydric soils (not enough O2) are the chief characteristics of wetlands.
• Wetlands occupy 18.4% of the country’s area of which 70% are under paddy cultivation.
• Wetlands contribute to flood protection, clean water, biodiversity, and recreational opportunities, all of which are essential for human health and prosperity.
RANKS & INDICES:
1. TomTom Traffic Index 2023
Why in news – Bengaluru has been ranked as the 6th most congested city in the world.
Key Points –
• In Bengaluru, the congestion level was recorded at 63%.
• London continues to be the most congested city.
SCIECNE – TECH:
1. ‘Rufus’ AI Chatbot
Why in news – Amazon is planning to launch a new AI shopping assistant called Rufus.
Key Points –
• With Rufus, shoppers can have natural conversations by typing or speaking questions into the Amazon app search bar.
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