Today Current Affairs: 2nd March 2022 for UPSC IAS exams, State PSC exams, SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc
Table of Contents
The world faces unavoidable multiple climate hazards over the next two decades with global warming of 1.5°C, and even temporarily exceeding this warming level would mean additional, severe impacts, some of which will be irreversible, according to a report by the Intergovernmental Panel on Climate Change (IPCC).
- Human-induced climate change, including more frequent and intense extreme events, has caused widespread adverse impacts and damage to nature and people. Some development and adaptation efforts have reduced vulnerability.
- Lucknow and Patna, according to one of several studies cited in the IPCC report, are among the cities predicted to reach wet-bulb temperature (a metric of humidity) of 35°C if emissions continued to rise.
- Bhubaneswar, Chennai, Mumbai, Indore, and Ahmedabad are identified as at risk of reaching wet-bulb temperatures of 32-34°C with continued emissions.
- Overall, Assam, Meghalaya, Tripura, West Bengal, Bihar, Jharkhand, Odisha, Chhattisgarh, Uttar Pradesh, Haryana and Punjab will be the most severely affected, but if emissions keep rising, all States will have regions that experience wet-bulb temperature of 30°C or more by the end of the century.
- According to the IPCC report, global sea levels will likely rise 44-76 cm this century if governments meet their current emission-cutting pledges. With faster emission cuts, the increase could be limited to 28-55 cm.
- But with higher emissions, and if ice sheets collapse more quickly than expected, sea levels could rise as much as 2 m this century and 5 m by 2150.
Indian Economic Growth Estimation:
India’s gross domestic product (GDP) is estimated to grow at 8.9% in 2021-22 instead of the 9.2% estimated earlier, with year-on-year growth during October-December 2021 slipping to 5.4% from 8.5% in the previous quarter, as per the second advance national income estimates released.
- Gross Value-Added (GVA) in the economy is expected to grow by 8.3% this financial year, from a 4.8% contraction in 2020-21, the National Statistical Office (NSO) said.
- Barring the contact-intensive segment of trade, hotels, transport, communication & services related to broadcasting, all sectors are expected to surpass pre-pandemic GVA levels this year.
- India’s GDP shrunk 6.6% in 2020-21, with the first half of the year recording a sharp contraction before GDP resurfaced to clock 0.7% growth in the October-December 2020 quarter.
- Economists expect the full year growth hopes for this year to be pared further from the 8.9% projected by the NSO, especially in light of the high oil prices as well as inflation trajectories.
- The GDP growth rates for the first and second quarters of 2021-22 were revised upwards marginally by the NSO from 20.1% to 20.3% and 8.4% to 8.5%, respectively.
International Monsoons Project Office (IMPO):
Union Minister of Earth Sciences Dr. Jitendra Singh launched the International Monsoons Project Office (IMPO) on the occasion of National Science Day 2022.
- The International Monsoons Project Office (IMPO) will be hosted at the Indian Institute of Tropical Meteorology (IITM), Pune, an institution under the Ministry of Earth Sciences, Govt of India, initially for five years.
- It would encompass activities and connections related to international monsoon research that would be identified and fostered under the leadership of the World Climate Research Programme and the World Weather Research Programme.
- Both the World Climate Research Programme and World Weather Research Programme are international programmes coordinated by the United Nations World Meteorological Organisation (WMO).
- The IMPO would support activities of the Monsoons Panel, jointly established by the World Climate Research Programme’s CLIVAR (Climate and Ocean Variability, Predictability, and Change) and GEWEX (Global Energy and Water Exchanges) projects.
National Science Day:
National Science Day was celebrated on February 28, 2022.
- The day is celebrated every year on 28th February to commemorate the discovery of the ‘Raman Effect’.
- On this day, Indian Physicist Sir C.V. Raman announced the discovery of the ‘Raman Effect’ for which he was awarded the Nobel Prize in 1930.
- In 1986, Government of India designated 28 February as National Science Day. The day is aimed at spreading the message of importance of science and its application in human life.
- This year the theme of the National Science Day is- Integrated Approach in Science and Technology for Sustainable Future.
- On the occasion, National Science Communication Awards to this year’s awardees, and prizes to the winners of various contests held as part of the Mahotsav would be presented.
Ukraine Has Filed An Application Before ICJ:
Ukraine has filed an application before the International Court of Justice (ICJ), instituting proceedings against the Russia concerning “a dispute relating to the interpretation of the 1948 Convention on the Prevention and Punishment of the Crime of Genocide” (the “Genocide Convention”).
- Ukraine has accused Russia of falsely claiming that “acts of genocide have occurred in the Luhansk and Donetsk oblasts of Ukraine”, and of using that as a pretext to recognise the independence of these regions and of going to war against Ukraine.
- The ICJ is the principal judicial organ of the United Nations (UN).
- Like the PCIJ, the ICJ is based at the Peace Palace in The Hague.
- It is the only one of the six principal organs of the UN that is not located in New York City.
- The ICJ has 15 judges who are elected to nine-year terms by the UN General Assembly and Security Council, which vote simultaneously but separately.
- It was established in June 1945 by the Charter of the United Nations and began work in April 1946.
- The court is the successor to the Permanent Court of International Justice (PCIJ).
- The PCIJ was formally dissolved in April 1946, and its last president, Judge José Gustavo Guerrero of El Salvador, became the first president of the ICJ.
- The first case, which was brought by the UK against Albania and concerned incidents in the Corfu channel — the narrow strait of the Ionian Sea between the Greek island of Corfu and Albania on the European mainland — was submitted in May 1947.
What Are Market Infrastructure Institutions?
Securities and Exchange Board of India (SEBI) noted that the National Stock Exchange (NSE), the country’s largest equities and derivatives exchange is a systemically important market infrastructure institution (MII).
- Stock exchanges, depositories and clearing houses are all Market Infrastructure Institutions and constitute a key part of the nation’s vital economic infrastructure.
- According to a panel set up (in 2010) under the chairmanship of former Reserve Bank of India Governor Bimal Jalan, the term ‘market infrastructure’ denotes such fundamental facilities and systems serving this capital market.
- The primary purpose of the securities /capital market is to enable allocation/reallocation of capital/financial resources.
- MIIs helps in optimal use of money in the economy and fostered economic development.
- They constitute the nucleus of the capital allocation system and are indispensable for economic growth and have a net positive effect on society like any other infrastructure institution.
- MIIs are systemically important in India is clear from the phenomenal growth of these institutions in terms of market capitalization of listed companies, capital raised and the number of investor accounts and the value of assets held in the depositories’ account.
- Any failure of such an MII could lead to even bigger cataclysmic collapses that may result in an overall economic downfall that could potentially extend beyond the boundaries of the securities market and the country.
- Given the potential for a domino effect that a failure of an MII could have on the wider market and economy, governance and oversight are absolutely critical and need to be of the highest standards.
Ayushman Bharat Digital Mission: Budgetary Allocation:
The Union Cabinet has approved the countrywide implementation of the Ayushman Bharat Digital Mission (ABDM) with the budgetary allocation of Rs 1,600 crore for five years.
- Under the mission, citizens will be able to create their Ayushman Bharat health account numbers, to which their digital health records can be linked.
- Ayushman Bharat is a flagship scheme of India which was launched as recommended by the National Health Policy 2017, to achieve the vision of Universal Health Coverage (UHC).
Ayushman Bharat Digital Mission”
- It was launched in September 2021 by the Prime Minister through a video conference.
- It aims to provide digital health IDs for all Indian citizens to help hospitals, insurance firms, and citizens access health records electronically when required.
- The pilot project of the Mission had been announced by the Prime Minister from the ramparts of the Red Fort on 15th August 2020.
- The project is being implemented in the pilot phase in six States & Union Territories.
- The National Health Authority (NHA) under the Ministry of Health and Family Welfare will be the implementing Agency.
The India-made stealth guided-missile destroyer INS Visakhapatnam was formally affiliated to the Visakhapatnam port.
- This marks the formal induction of the first of the four ‘Visakhapatnam’ class destroyers.
- Under the P-15B (Visakhapatnam Class), a total of four warships were planned (Visakhapatnam, Mormugao, Imphal, Surat) to be inducted.
- It is indigenously designed by the Indian Navy’s in-house Directorate of Naval Design and constructed by Mazagon Dock Shipbuilders, Mumbai.
- INS Visakhapatnam is the lead ship of the P15B class of guided missile stealth destroyers and was commissioned on 21st November 2021.
- The ship symbolises India’s matured shipbuilding capability and quest for the Make in India initiative towards achieving ‘Atmanirbhar Bharat’.
- The crew of the ship abides by her motto ‘Yasho Labhasva’ – a Sanskrit phrase that translates to ‘Attain Glory’.
- It embodies the indomitable spirit and capability of this mighty ship to achieve success and glory in every endeavour.
- Visakhapatnam class ships are follow-on of the Kolkata class destroyers (P-15A) commissioned in the last decade.
- The ship is on her maiden visit to the port for participating in the Presidential Fleet Review (PFR) and MILAN 2022.
- The fleet review is a long-standing tradition followed by navies all across the world and it is an assembly of ships at a pre-designated place for the purpose of displaying loyalty and allegiance to the sovereign and the state.
- These ships are amongst the most technologically advanced Guided Missile Destroyers of the world, with state-of-the-art weapon/sensor package, advanced stealth features and a high degree of automation.
- These ships are equipped with BrahMos supersonic cruise missiles and long-range Surface-to-Air Missiles (SAM).
- The ship has several indigenous weapons systems like medium range Surface-to-Air Missile (SAMs), indigenous torpedo tube launchers, anti-submarine indigenous rocket launchers and 76-mm super rapid gun mount.
International Intellectual Property Index 2022:
India has improved its overall International Intellectual Property (IIP) score from 38.4% to 38.6%, and the country is ranked 43rd out of 55 countries on the International Intellectual Property Index.
- International Intellectual Property Index is an annual report compiled by the US Chambers of Commerce.
- This year (2022) the index is topped by the US with 95.4%.
International Intellectual Property Index:
- The 2020 U.S. Chamber International IP Index titled ‘Art of the Possible’ creates a template for economies that aspire to become the 21st century, knowledge-based economies through more effective IP protection.
- In its eighth edition, the Index maps the IP ecosystem in 53 global economies, representing over 90% of global Gross Domestic Product.
- The Index evaluates the IP framework in each economy across 50 unique indicators which industry believes represent economies with the most effective IP systems.
- The indicators create a snapshot of an economy overall IP ecosystem and span nine categories of protection:
- Design Rights,
- Trade Secrets,
- Commercialization of IP Assets,
- Systemic Efficiency,
- Membership And Ratification Of International Treaties.
Exercise Dharma Guardian 2022:
A Joint Military Exercise, “Exercise Dharma Guardian-2022”, between India and Japan will be conducted at foreign training node, Belagavi (Belgaum, Karnataka) from 27th February to 10th March 2022.
- Exercise Dharma Guardian-2022 is an annual training event which is being conducted in India since 2018.
- The scope of this exercise covers platoon level joint training on operations in jungle and semi urban/urban terrain.
- The joint exercise schedule includes house interventions drills, raid on terrorist hideouts in semi urban terrain, combat first aid, unarmed combat & close quarter combat firing where both sides will jointly train, plan and execute a series of well-developed tactical drills for neutralisation of likely threats.
- Special emphasis is being laid on enhancing tactical skills to fight global terrorism and on enhancing inter-operability between the forces and to promote Army to Army relations.
Turkey is set to implement an international convention on naval passage through two of its strategic straits, which would allow them to limit the movement of Russian warships between the Mediterranean Sea and the Black Sea.
- Turkey said that the situation in Ukraine had become a war, a declaration that authorises Turkey to activate the Montreux Convention and ban Russian war vessels from entering the Black Sea through the Bosporus and Dardanelles straits.
- The Bosporus and Dardanelles straits, also known as the Turkish Straits or the Black Sea Straits, connect the Aegean Sea and the Black Sea via the Sea of Marmara. It is the only passage through which the Black Sea ports can access the Mediterranean and beyond.
- According to the 1936 Montreux Convention Regarding the Regime of the Straits, often referred to simply as the Montreux Convention, Turkey has control over both the Bosporus and Dardanelles straits.
- In the event of a war, the pact gives Turkey the right to regulate the transit of naval warships and to block the straits to warships belonging to the countries involved in the conflict.
- Russia’s location on the Black Sea complicates the situation. Article 19 of the treaty contains an exception for the countries on the Black Sea that can effectively undermine Turkey’s power in blocking the Russian warships entering or exiting the Black Sea.
The Chandigarh Municipal Corporation approved a proposal to amend Article 80 of the Constitution so that its councillors could send a representative to the Rajya Sabha.
- Article 80 of the Constitution of India deals with the composition of the council of states also called the Upper House and Rajya Sabha (Upper House).
- In the case of Chandigarh, the Private Member Bill was introduced by Congress MP from Anandpur Sahib, Punjab, Manish Tewari, who is a resident of Chandigarh.
- Tewari has sought the adding of a provision “provided that the ‘representative of the UT of Chandigarh in the council of states shall be elected by an electoral college consisting of elected members of Municipal Corporation of Chandigarh constituted under the Punjab Municipal Corporation (Extension to Chandigarh) Act, 1994” in Article 80 of the Constitution in clause (5).
- MP Tewari has also sought amendment of the Fourth Schedule of the Constitution with ‘Entry 32, Chandigarh.”
- The Private Member Bill is a bill introduced by a Member of Parliament (MP), who is not a minister. MPs sitting in the Opposition mostly bring Private Member Bills in the house.
FIFA To Suspend All Russian Teams:
On February 28, 2022, FIFA and UEFA decided to indefinitely suspend all Russian teams, whether national representative teams or club teams, from participation in all competitions run by the two football bodies.
- FIFA, Fédération Internationale de Football Association in French, is the highest global governing body of football (also known as soccer to distinguish it from American football), the world’s most popular game.
- FIFA is also the international governing body for futsal (a kind of mini football played indoors on a hard court between two teams of five players each) and beach soccer (five-a-side, played on a beach).
- FIFA is responsible for organising and promoting football’s major international tournaments, most importantly the football World Cup, which began in 1930, and the Women’s World Cup which began in 1991.
- The membership of FIFA now comprises 211 national football associations around the world.
- FIFA, which is headquartered in Zurich, Switzerland, supports these national associations financially and logistically through various programmes.
- The FIFA Congress is the supreme legislative body of FIFA, in which each of the 211 members of the organisation has a vote. The Congress ordinarily meets annually.
The President of India Ram Nath Kovind, inaugurated on March 1, 2022 a newly developed Arogya Vanam at the President’s Estate in the presence of the Prime Minister, Shri Narendra Modi.
- Spread in 6.6 acres, the Arogya Vanam has been developed in the shape of a human sitting in the Yoga Mudra. It consists of around 215 herbs and plants used for therapeutic purposes in Ayurveda.
- Some of the other features of this Vanam are water fountains, Yoga platform, water channel, lotus pond and a view point.
- The concept of Arogya Vanam has been conceived with the aim of publicising the importance of Ayurvedic plants and their effects on human body.
- This Vanam will be now open for public viewing.
Minimum Assured Return Scheme (MARS):
Pension Fund Regulatory and Development Authority (PFRDA), which operates the National Pension System (NPS), is preparing to launch a guaranteed return scheme, Minimum Assured Return Scheme (MARS), which will provide savers and people from the salaried class an option for their investments.
- The regulator has appointed EY Actuarial Services LLP as a consultant to help design the proposed MARS under the NPS. This will be the first scheme from the pension regulator that will offer a guaranteed return to investors.
- The PFRDA wants to launch the scheme before the end of the current calendar year.
- The actual returns will depend on the market conditions. Any shortfall will be made good by the sponsor, and the surplus will be credited to the subscribers’ account.
- Two options are likely to be on offer.
- Under the fixed guarantee option, the guaranteed return is fixed along the accumulation phase.
- Under the floating guarantee option, the guaranteed rate of return is not fixed along the savings phase. The floating guarantee depends on the development of the 1-year interest rate until retirement.