1. Russia overtakes Saudi Arabia to become India's second largest oil supplier
Tags: Economics/Business International News
Russia has overtaken Saudi Arabia to become India's second largest oil supplier after Iraq.
Indian refiners bought about 25 million barrels of Russian oil in May, which is more than 16% of all Russian oil imports.
India is the world's third largest oil importer and consumer.
Iraq remained India's top oil supplier in May and Saudi Arabia is now the third largest supplier.
India has taken advantage of concessional prices to increase oil imports from Russia at a time when global energy prices are rising.
After the US and China, India is the world's third largest oil consumer, importing more than 85% of its oil.
Largest Oil Producer countries in the world
United States
Russia
Saudi Arabia
Canada
Iraq
China
United Arab Emirates
Brazil
Kuwait
Iran
2. PM will inaugurate the Sant Tukaram Shila Mandir at Dehu in Pune
Tags: Popular National News
Prime Minister Narendra Modi will inaugurate the Sant Tukaram Shila Mandir in the temple town of Dehu in Pune district on 14 June.
About the Shila Mandir
The shila refers to a rock that is currently in the Dehu Sanatan temple complex, and has been the starting point of Wari, the annual pilgrimage to Pandharpur for centuries.
Bhakti saint Tukaram sat on this rock for 13 consecutive days when challenged about the authenticity of the abhyangas he had written.
About Sant Tukaram
Tukaram was born in Maharashtra. His full name was Tukaram Bolhoba Ambile.
He was a 17th-century poet-saint who lived with Maratha ruler Shivaji Maharaj.
His poetry was dedicated to Vithoba or Vitthala, an avatar of Vishnu (Hindu God).
He is best known for his Marathi Abangas (dohas), a rich legacy of gathas (devotional poetry).
He was also instrumental in laying the foundation of Maratha nationalism.
He emphasised community based worship through spiritual melodies called Kirtans.
The Warkari sect
Sant Tukaram and his works are at the heart of the Varkari sect spread across Maharashtra.
His message about a casteless society and his denial of customs had given rise to a social movement.
Sant Tukaram has credit for starting the Wari pilgrimage.
3. e-Vidhan system in Uttar Pradesh
Tags: State News National News
A delegation of MLAs from Gujarat visited the Uttar Pradesh Legislative Assembly on 9th June to learn about the e-Vidhan system for paperless proceedings which has been recently adopted by the UP State Legislative Assembly.
Uttar Pradesh is one of the few state legislatures in India to have implemented the digital assembly system, and its last session was fully digitised.
Earlier in May, a training program was organized to familiarize the delegates with the technology.
What is the E-Vidhan System?
The E-Vidhan System is also called The National e-Vidhan Application (NeVA).
It is a system to digitize the legislative bodies of all the Indian states and Parliament through a single platform.
It consists of a website and a mobile app.
House proceedings, starred/unstarred questions and answers, committee reports etc. will be available on the portal.
By 2023, the proceedings of all the Legislative Assemblies, both the Houses of Parliament and the State Assemblies and Legislative Councils will be available on a single platform.
Other states that implemented this system
Nagaland became the first state to implement NeVA, in March 2022.
The Legislative Assembly of Himachal Pradesh implemented the pilot project of NeVA in 2014.
Although both the houses of Parliament are not fully digital yet, governments across the world are moving towards adopting digital mode.
In December 2021, the Government of Dubai became the world’s first government to go 100 percent paperless.
Significance
There has been a significant shift towards digitization by the government in recent years.
NeVA aims to streamline the information related to various state legislatures and eliminate the use of paper in day to day functioning.
The idea of "one nation one legislative platform" was mentioned by Prime Minister Narendra Modi in November 2021.
A digital platform provides the necessary technological boost to our parliamentary system and at the same time connects all the democratic units of the country.
4. QS World University Rankings 2023
Tags: National News
In the 2023 University Rankings released by Quacquarelli Symonds (QS), the Massachusetts Institute of Technology (MIT) in the United States (US) has been ranked first, followed by the University of Cambridge in the United Kingdom (UK) and Stanford University (US).
Indian Institute
Indian Institute of Science, Bangalore (IISC) was ranked highest (155th), followed by IIT Bombay(172nd) and IIT Delhi(174th) respectively. Globally, the total number of Indian institutions in the top 1,000 has increased from 22 to 27.
IISc Bangalore is the top research university in the world with a score of 100/100 for this metric.
In addition, IISc Bangalore is the fastest growing South Asian University in the QS World University Rankings Top-200.
Apart from IISc, eight IITs (Delhi, Bombay, Madras, Kanpur, Kharagpur, Roorkee, Guwahati, Indore) have been ranked in the top 500 globally.
The report shows that India's presence in the top 500 category proves that India's IITs are run like other IITs across the world.
QS World University Rankings 2023: List of Top Universities in India
National Rank | Name of the University | Global Rank |
1 | IISc Bangalore | 155 |
2 | IIT Bombay | 172 |
3 | IIT Delhi | 174 |
4 | IIT Madras | 250 |
5 | IIT Kanpur | 264 |
6 | IIT Kharagpur | 270 |
7 | IIT Roorkee | 369 |
8 | IIT Guwahati | 384 |
9 | IIT Indore | 396 |
10 | Delhi University | 521-30 |
5. 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'.
6. 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
7. 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
8. 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.
9. 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.
10. 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.
