1. India's FDI rank rises to 7th position : UNCTAD
Tags: National News
According to the United Nations Conference on Trade and Development (UNCTAD), India jumped one place to the 7th position among the top recipients of foreign direct investment (FDI) in the last calendar year (2021) despite a fall in FDI inflows into the country.
Key points of the report
Despite a 30% decline in 'foreign direct investment' (FDI) in the country, India is at the seventh position.
The United States ($367 billion) became the top recipient of FDI.
China ($181 billion) and Hong Kong ($141 billion) also retained the second and third positions respectively in the list of FDI recipients.
Among the top 10 FDI recipient economies, only India has seen a decline in inflows.
However, outward FDI from India has increased by 43 percent to $15.5 billion in 2021.
What is FDI?
Foreign direct investment or FDI is an investment made by a party of one country in a business or corporation operating in another country with the intention of earning long-term profits. Through FDI, foreign companies are directly involved in the day-to-day operations of another country.
About United Nations Convention on Trade and Development (UNCTAD)
UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964.
It is a part of the United Nations Secretariat.
UNCTAD reports to the United Nations General Assembly and the Economic and Social Council, but has its own budget, members and leadership.
It is also a part of the 'United Nations Development Group'.
2. BJP wins eight out of 16 Rajya Sabha seats while Congress bags five seats
Tags: National News
The BJP won eight of the 16 Rajya Sabha seats in four states, while the Congress won five in a tight contest.
Biennial elections to the Upper House of Parliament were held on June 10 for six seats in Maharashtra, four each in Karnataka and Rajasthan and two in Haryana.
Winners from BJP include Union Minister Piyush Goyal, former state minister Anil Bonde and party leader Dhananjay Mahadik.
NCP's Praful Patel, Congress' Imran Pratapgadi and Shiv Sena's Sanjay Raut were also elected to Rajya Sabha.
In Haryana, BJP candidate Krishan Lal Panwar and Independent candidate Kartikeya Sharma, have won the two Rajya Sabha seats.
BJP got three seats and Congress got one seat from Karnataka.
Union Finance Minister Nirmala Sitharaman, actor Jaggesh and MLC Lehar Singh Siroya have been elected to Rajya Sabha from BJP.
Jairam Ramesh of Congress won the remaining one seat.
The Congress won three of the four Rajya Sabha seats while one seat was won by the BJP In Rajasthan.
Randeep Singh Surjewala, Mukul Wasnik and Pramod Tiwari are the winners from Congress.
Ghanshyam Tiwari won a seat for the BJP in Rajasthan.
Important facts about Rajya Sabha
Article 80 of the Constitution provides provisions for members of the Rajya Sabha.
Members - 245 - including 233 elected members and 12 nominated members
Upper House of parliament strength cannot exceed 250
Nominated members - nominated by the President of India in the field of art, literature, science and social service
Chairperson of the Rajya Sabha - Vice-President
Tenure of members - six years
Elections to one-third seats are held every two years
Process of election - members are elected indirectly by the people, that is, by the MLAs.
Voting is by single transferable vote
NOTA button is available in the Upper House polls
3. Russia supplies new fuel for Kudankulam reactors
Tags: Science and Technology National News
Russia's Rosatom State Corporation has supplied the first batch of TVS-2M nuclear fuel, which is a more reliable and cost-effective nuclear fuel, to India for Units 1 and 2 of the Kudankulam Nuclear Power Plant (KNPP).
Once the new TVS-2M fuel is in use, the reactor will start operating with a fuel cycle of 18 months.
This means that the reactor, which has to be shut down every 12 months to remove spent fuel and insert new fuel bundles and associated maintenance, will now have to shut down every 18 months.
Benefits of TVS-2M fuel
TVS-2M fuel assemblies have several advantages that make them more reliable and cost-effective.
The fuel combinations in the reactor core maintain their geometry.
one TVS-2 M assembly contains 7.6% more fuel material than that of UTVS.
Its main feature is the new generation anti-debris filter ADF-2, which protects the bundles from damage caused by debris (small objects in the reactor core).
Operating in a longer fuel cycle also increases the economic efficiency of a plant.
Kudankulam Nuclear Power Plant (KNPP)
located - coastal Tamil Nadu
built by - India in joint-collaboration with Russia.
Construction on the plant began on 31 March 2002
it is India’s Critical Information Infrastructure
It has an installed capacity of 6,000 MW of electricity
4. Ukraine war hits Surat’s diamond industry hard
Tags: State News National News
The diamond business of Surat has been badly affected due to the Russia-Ukraine war. The city is known for the cutting and polishing of diamonds, but the war has severely affected the supply chain of rough diamonds.
The big diamond factories in Surat have reduced the working days of the week and the small industries have stopped working for a while.
Diamond labourers have appealed to the Chief Minister of Gujarat for financial assistance.
In Mumbai and Surat, a large part of the diamond that comes as a raw material is imported from Russia, but the entire supply chain has been broken due to US sanctions.
Russian diamonds are generally smaller, accounting for 40 per cent of India's diamond trade by volume and about 30 per cent by value.
Its business worth $1800 million has been affected by the war with Ukraine.
Important facts about Diamond
Diamonds are a solid form of elemental carbon whose atoms are arranged in a crystal structure called a diamond cubic.
The diamond is the hardest material on Earth.
According to the Indian Bureau of Mines (IBM) in India, the diamond resources are concentrated only in three states, Madhya Pradesh has 90.17 percent, followed by Andhra Pradesh has 5.73 percent and Chhattisgarh 4.10 percent.
Russia and Botswana have the largest diamond reserves in the world.
India is known for its diamond cutting and polishing business, especially for small size diamonds.
Most of the world's diamond cutting and polishing business takes place in India, especially in Surat, Gujarat.
Diamonds are used in ornaments, grinding, drilling, cutting, and polishing tools.
5. PM Modi launches projects worth ₹3,050 crore in Gujarat
Tags: Science and Technology National News
On June 10, Prime Minister Narendra Modi laid the foundation stone for several development projects worth Rs 3,050 crore in Navsari district, Gujarat. In Navsari, Prime Minister Modi took part in the 'Gujarat Gaurav Abhiyan.'
He inaugurated the AM Naik Healthcare Complex, Nirali Multi Speciality Hospital and Kharel education complex in Navsari.
He inaugurated the headquarters of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) at Bopal, Ahmedabad.
It will play an anchoring role in transforming the space sector of India.
He performed the Bhumi Pujan for 13 water supply projects for residents of Tapi, Navsari and Surat districts, worth ₹961 crores.
He also inaugurated the Madhuban Dam based Astole Regional Water Supply Project constructed at a cost of about Rs 586 crore.
He also inaugurated ‘Nal Se Jal’ projects worth ₹163 crores.
These projects will provide safe and adequate drinking water to the residents of Surat, Navsari, Valsad and Tapi districts.
Indian National Space Promotion and Authorisation Centre (IN-SPACe)
The establishment of IN-SPACe was announced in June 2020 by the Government.
It will be the nodal agency, which will allow space activities and non-government private entities to use the facilities belonging to the Department of Space.
It aims to ensure maximum private participation for the space sector.
It will also allow setting up of facilities within the ISRO campus based on safety norms and feasibility assessment.
It will give an opportunity to the youth to showcase their talent.
6. Turkey's Erdogan warns Greece to demilitarise Aegean islands
Tags: International News
Turkish President Recep Tayyip Erdogan on June 9 warned Greece to demilitarise islands in the Aegean Sea.
Turkey says Greece is increasing its military presence on the Aegean islands in violation of treaties.
Turkey argues that the islands were ceded to Greece on the condition that they remain demilitarized.
What is the dispute?
Greece and Turkey are allies of NATO, but the two countries have a history of disputes on many issues.
Some of the issues are mineral exploration in the eastern Mediterranean and rival claims in the Aegean Sea.
Greece says Turkey deliberately misinterpreted the treaties.
Turkey argues that this sea should be divided equally.
About Aegean Sea
It is located between Anatolia and the Balkan Peninsula and spans Turkey and Greece.
Nine of the 12 administrative regions of Greece are bordered by the sea.
It has a surface area of about 215,000 km2.
Its maximum length is about 700 km and width is 400 km.
The Aegean is divided into the Myrtoian Sea and the Thracian Sea.
It is a major cause of dispute between Turkey and Greece, affecting relations between the two countries since the 1970s.
7. Thailand Becomes the First Asian Country to Legalize Marijuana
Tags: International News
Thailand has become the first country in Asia to legalize the cultivation, sale and use of Marijuana.
Uruguay and Canada are, so far, the only two countries that have legalized recreational marijuana on a national basis.
Thailand's government has warned that those who smoke in public will be sentenced to 3 months in prison and a fine of 25,000 baht ($780).
What is Marijuana?
Marijuana also called weed, is a greenish-grey mixture of the dried flowers of Cannabis sativa.
The main psychoactive (mind-altering) chemical in marijuana, responsible for most of the intoxicating effects, is delta-9-tetrahydrocannabinol (THC).
The chemical is found in resin produced by the leaves and buds primarily of the cannabis plant.
More than 500 other chemicals are also found in the plant, including more than 100 compounds that are chemically related to THC.
It is used for smoking, drinking, within food, or as an extract.
Some benefits of Marijuana
It works as a healer and has found mention in the Ayurveda.
It can be used to treat a number of diseases like multiple sclerosis, arthritis, epilepsy, insomnia, HIV/AIDS treatment, cancer.
It is a super-industrial carbon negative raw material.
It is being used to make bio-fuel, bio-plastics and even construction material in certain countries.
By legalizing and taxing marijuana, the government can generate huge amounts of revenue.
It has the potential to become a cash crop for poor marginal farmers.
Its consumption was never regarded as a more socially deviant behaviour than drinking.
Its consumption was never regarded as a more socially deviant behavior than drinking alcohol.
8. PM Gati Shakti to help achieve India's aim of USD 5 Trillion economy
Tags: Government Schemes National News
Minister of State for Commerce and Industry Som Prakash has said that PM Gati Shakti National Master Plan will help in achieving India's goal of a five trillion dollar economy.
About PM Gati Shakti Master Plan
In October 2021, the government announced the PM Gati Shakti programme.
It will bring 16 Ministries together for integrated planning and implementation of infrastructure connectivity projects.
It is multi-modal connectivity and will help in improving global competitiveness, boost manufacturing and modernise infrastructure in the country.
Its targets are to cut logistic costs, increase cargo handling capacity and reduce the turnaround time.
Economic zones like Textile Clusters, Pharmaceutical Clusters, Defence Corridor, Electronic Park, Industrial Corridor, Fishing Clusters, Agri Zone will be covered under this program to improve connectivity.
Significance
It will give a boost to the overall infrastructure of the country.
It will strive to build next generation infrastructure that improves ease of living as well as ease of doing business.
It will provide integrated and seamless connectivity for movement of people, goods and services as a mode of transport.
It will create many employment opportunities and boost the economy.
It will improve the global competitiveness of local products by cutting logistics costs and improving the supply chain.
9. Presidential elections on July 18 : Election Commission
Tags: Popular National News
On 9 June, the Election Commission announced the election date as 18 July for the election of the 16th President of India.
The notification for the election will be issued on June 15, the last date for nomination is scheduled June 29.
Counting of votes, if required, will be done on July 21.
The term of President Ram Nath Kovind will end on July 24, 2022, and according to Article 62 of the Constitution, elections are required to be completed before term to fill a vacancy caused by the expiration of the term.
The President of India
The President of India is recognized as the first citizen of the country and the head of state.
He is a part of the Central Executive along with the Vice President, Prime Minister, Council of Ministers and Attorney General of India.
How is the President elected?
There is no direct election for the Indian President, an electoral college elects The President.
Votes are cast by national and state level MPs and MLAs.
The electoral college is made up of all the elected members of both Houses of Parliament.
Elected Members of the Legislative Assemblies of States and Union Territories are also part of the electoral college.
The provisions of the election of the President are given in Article 54 of the Constitution of India.
Status of The electoral college
There will be a total of 4,809 members in the electoral college for the elections.
Rajya Sabha MPs - 233
Lok Sabha MPs - 543
MLAs of State Assemblies and the Assemblies of the Union Territories of Delhi and Puducherry - 4,033
Total value of the votes - 10 lakh 86 thousand 431
Constitutional provisions
Article 54 - Election of President
Article 55 - Manner of election of President.
Article 56 - Term of office of President
Article 57 - Eligibility for re-election.
Article 58 - Qualifications for election as President
10. Central Government launches National Awards Portal for nomination of various awards
Tags: Awards National News
The Central Government has launched the National Awards Portal to invite nominations for various awards from various Ministries, Departments and Agencies to ensure transparency and public participation.
This portal has been developed by the government to bring all the awards together under a single digital platform.
The portal aims to facilitate citizens to nominate individuals and organisations for various awards instituted by the Government of India.
Currently nominations and recommendations for Padma awards are open till 15th September this year for Sardar Patel National Integration Award, nominations will be open till 31st of July.
Nomination for Tenzing Norgay National Adventure Award will remain open till the 16th of June.
nomination for Jeevan Raksha Padak series of Awards will be open till 30th September 2022.
Anyone can nominate for the Pandit Deendayal Upadhyay Telecom Skill Excellence Award till June 16.
