Current Affairs of 7th March

National Affairs

1. NADA and NCERT sign a memorandum of understanding to enhance value-based sports education for teachers and schoolchildren.

The National Anti-Doping Agency (NADA), which is based in New Delhi and falls under the Ministry of Youth Affairs and Sports (MoYAS), and the National Council of Educational Research and Training (NCERT), which is based under the Ministry of Education, signed a Memorandum of Understanding (MoU) on March 3, 2023, with the goal of strengthening value-based sports education among schoolchildren and teachers.

 

Signatories:

 

Ritu Sain, Director General of NADA India, and Prof. Dinesh Prasad Saklani, Director of NCERT, signed the MoU in the Conference Hall of the Ministry of Education in New Delhi, Delhi, in the presence of Sujata Chaturvedi, Secretary (Department of Sports), and Sanjay Kumar, Secretary (Department of School Education & Literacy- DoSE&L).

 

What will this MoU accomplish?

 

To create, spread, and popularize electronic content about sports ethics, values, and anti-doping.

 

To spread the word about the UNESCO Value-Based Sports Education toolkit in each classroom iii. through PM eVidya, to make use of the digital infrastructure and outreach capabilities of DoSE&L for students, parents, young athletes, and physical education teachers.

 

Important Note:

 

As a signatory to the International Convention Against Doping in Sports of the United Nations Educational, Scientific, and Cultural Organization (UNESCO), India is tasked with expanding efforts to promote value-based sports education and clean sports.

2. MoRD extends its agreement with NIFT to support the design of products produced by SHGs of DAY – NRLM

On Walk 3, 2023, the Service of Rustic Turn of events (MoRD) expanded its

Notice of Figuring out (MoU) with the Public Foundation of Design

Innovation (NIFT) for giving plan backing to the items made by Self-improvement

Gatherings (SHGs) of the Aajeevika Deendayal Antyodaya Yojana – Public Provincial

Vocation Mission (DAY-NRLM).

 

Signatories:

 

Charanjit Singh, Extra Secretary, RL (Rustic Jobs), MoRD and

Rohit Kansal, Chief General, NIFT marked and traded the MoU at NIFT, New

Delhi, Delhi.

 

Foundation:

 

On October 23, 2019, a Non-Monetary MoU was endorsed between NRLM-MoRD and

NIFT for a very long time. Be that as it may, the MoU was influenced by the beginning of the Coronavirus pandemic. Regardless, NRLM figured out how to use the administrations of NIFT for the reason for overhauling and remodelling the Saras Exhibition at Baba Khadak Singh Marg, New Delhi (Delhi) which is presently operationalized since December 17, 2021, for advertising SHG items from all States and Association Domains (UTs).’

 

Featured discussions:

 

As of date, the Saras Exhibition has created a deal of Rs. 1,17,05,240/till Walk 1,

2023 since the redesign.

 

NRLM has taken a few drives to advance SHG items like Saras Exhibition,

the presence of SHG items on Amazon, Flipkart, Meesho, Service’s own committed web-based business stage as www.esaras.in and standard SarasAajeevika fairs at Public

furthermore, State level.

3. The launch of IFFCO’s nano DAP fertilizer is approved by MoA&FW.

The launch of Indian Farmers Fertilizer Cooperative Limited’s (IFFCO) nano DAP (Di-Ammonium Phosphate) fertilizer on the market was approved by the Ministry of Agriculture & Farmers Welfare (MoA&FW) on March 3, 2023.

 

As a result, the Fertilizer Control Order (FCO) mentions DAP produced by IFFCO.

In India, the FCO Act regulates fertilizer sales, pricing, distribution, and other formalities.

 

Key Points:

 

Nano-DAP is being produced jointly by IFFCO and a private company called Coromandel.

 

Each 500 ml bottle of Nano DAP will cost Rs 600. One bag of DAP, which currently costs Rs 1,350, will be the same price as one bottle.

 

As an alternative to conventional urea, IFFCO introduced nano urea in the form of a liquid in June 2021. Additionally, it has established manufacturing facilities for nano urea.

 

DAP is the fertilizer that India uses the most, behind urea, out of an estimated 10 to 12 million tonnes used annually; The remainder must be imported, while local production is approximately 4 to 5 million tonnes.

International Affairs

1. The 2023 Democracy Report from V-Dem: India is ranked 98th for LDI and 108th for EDI.

As indicated by the V-Dem (Assortments of A majority rules system) Organization’s report named, “A majority rules system Report 2023: Disobedience Despite autocratization,” India has been positioned 97th in the Liberal Majority rules system File (LDI) (down from 93 out of 2022) and 108th in the Constituent Majority rules system List (EDI) (down from 100 out of 2022).

 

As per the report, India is falling behind and goes under the classification of

“Electing Dictatorships.”

 

The majority rule government Report from the V-Dem Organization depends on a worldwide dataset on a majority rules system with more than 31 million useful pieces of information for 202 nations from 1789 to 2022. The report depends on the Liberal Majority rules system File (LDI).

 

The report recorded India as one of the best 10 automatizing nations in the last

10 years, setting it at Rank 108 and in the base half of the LDI.

 

The report likewise noticed that autocratization seems to have essentially eased back

down or stopped in certain nations, including India.

Banking and Finance

1. The World Bank Signs Two 500 million USD Loan Programs to Support India’s Health Sector: PHSPP and EHSDP

In order to support and enhance India’s healthcare infrastructure, the Government of India (GoI) and the World Bank (WB) signed two complementary loans—a $500 million Public Health Systems for Pandemic Preparedness Program (PHSPP) and a $500 million Enhanced Health Service Delivery Program (EHSDP)—on March 3, 2023.

 

Rajat Kumar Mishra, Additional Secretary of the Department of Economic Affairs, and Auguste Tano Kouamé, Country Director of the World Bank in India, both signed the loan agreements.

 

Key Points:

 

The World Bank will provide India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), which was launched in October 2021, with combined financing of USD 1 billion (approximately Rs 8,200 crore).

 

The loans for the PHSPP and the EHSDP that will be obtained from the International Bank for Reconstruction and Development (IBRD), a member of the World Bank Group, have a final maturity of 18.5 years and a grace period of 5 years.

 

Seven states, including Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh, would receive one of the loans first.

2. India’s renewable energy projects could benefit from a partnership between IREDA and the EIB.

 

The European Investment Bank (EIB) and the Indian Renewable Energy Development Agency (IREDA) met on March 2, 2023, to talk about ways to work together to finance green hydrogen and renewable energy projects in India.

 

Maria Shaw-Barragan, EIB’s Global Director, attended the meeting; and Pradip Kumar Das, Chairman and Managing Director of IREDA, in Delhi.

 

Key Points:

 

Already, IREDA has pledged to provide financing for the expansion of renewable energy in India.

 

Renewable energy, green hydrogen projects, green ammonia, e-mobility, battery storage, etc. will all benefit from the proposed collaboration. in India

The Indian government will be able to achieve its goal of using 50 per cent of its installed energy capacity from non-fossil fuels by 2030 thanks to this.

 

It may contribute to the faster development of a sustainable future for all.

3. After Bajaj Allianz, New India Assurance is the second company to offer Surety Bonds.

India’s largest general insurer, New India Assurance Co. Ltd., became the second insurance company to enter the surety bonds industry on March 3, 2023. The government is promoting surety bonds as an alternative to bank guarantees for government procurement.

 

Since April 2022, general insurers have been permitted by the Insurance Regulatory and Development Authority of India (IRDAI) to issue Surety Insurance Bonds.

 

Note: Private sector Bajaj Allianz General Insurance introduced India’s first surety bond insurance products in December 2022.

Economy and Business

1. Goodbye Steel Mining Signs MoU with GAIL For Clean Fuel

Odisha-based Goodbye Steel Mining Restricted has marked a Reminder of Understanding

(MoU) with GAIL (India) Restricted, a focal public area undertaking (PSU) under the

responsibility for the Service of Oil and Gaseous petrol (MoP&NG) for the stockpile of

petroleum gas to its Ferro Compounds Plant at Athgarh in Cuttack, Odisha to diminish carbon impression in its tasks.

 

GAIL will supply the agreed-upon quantity of natural gas via its pipeline from Gujarat to Athgarh, as stipulated in the MoU.

 

Furnace oil produces more carbon dioxide, nitrogen oxides, and sulfur oxides than natural gas.

 

Natural gas produces 27% less carbon dioxide (CO2) and has lower levels of other pollutants than other fuels.

 

By 968 tons, the project will reduce emissions of greenhouse gases.

Science and Technology

1. First Indigenized Fuze YDB-60 by EEL, Privately Manufactured, Given to IN

Private manufacturer M/s Economic Explosives Limited (EEL), Nagpur (Maharashtra), gave India Navy (IN) the fully indigenous fuze YDB-60 on March 3, 2023, for the underwater Anti Submarine Warfare (ASW) rocket RGB-60 (Rocket Guided Bomb model 60), which is used by major warships.

 

This is the first time that IN has ordered underwater ammunition fuze from the private sector of India.

 

Key Points:

 

The first shipment of the fuze was given to Vice Admiral SN Ghormade, Vice Chief of Naval Staff (VCNS), ii, by Satyanarayan Nuwal, the CMD (Chairman & Managing Director) of EEL. This new development comes from the AatmaNirbharta line.

 

The Directorates General of Naval Armament (DGONA) and Directorate General of Naval Armament Inspection (DGNAI), Indiana, has provided EEL with all technical assistance.