Current Affairs 27th June

National Affairs

1. IAF conducted Exercise “Ranvijay” focussing integrated operations

As part of integrated wargames to improve the skills of fighter pilots, the Indian Air Force (IAF) conducted Exercise “Ranvijay” with an emphasis on integration. In this exercise, combat aircraft, including Sukhoi-30s, performed day and night operations.

 

From June 16 to June 23, 2023, UB Hills and the Central Air Command (CAC) Area of Responsibility (AOR) were the locations of Exercise Ranvijay.

 

The exercise was conducted at various CAC air bases located in Prayagraj, Uttar Pradesh (UP).

 

In order to improve cooperation with the other two services, various IAF commands conducted wargames and aerial drills as part of the Government of India’s efforts to integrate the forces.

 

Note: The Su-30 is a fighter aircraft with two engines that can perform multiple roles. It was developed for the IAF by the Sukhoi Design Bureau in Russia and Hindustan Aeronautics Limited (HAL) in India.

International Affairs

1. Just 2.4% of Climate Funds Used as Supporting Child-Responsive Activities: UNICEF Report

A brand-new report titled “Falling short: Members of the Children’s Environmental Rights Initiative (CERI) coalition released a document titled “Addressing the climate finance gap for children;” Save the Children, Plan International, and UNICEF (the United Nations Children’s Fund)

 

It states that child-friendly activities receive support from only 2.4% of key Multilateral Climate Funds (MCFs), amounting to a meagre USD 1.2 billion over a 17-year period ending in March 2023.

 

Due to the fact that even less money is spent on meeting the requirements, this number is probably overestimated.

 

Highlights:

 

Even though MCFs are crucial in setting agendas and attracting investments from other public and private financial institutions, they only contributed less than 4% of projects or 7% of MCF investment ($2.58 billion), and they put girls’ needs and participation first.

 

Over a billion children face extremely high climate impact risks, according to the UNICEF Children’s Climate Risk Index.

 

Due to the effects of the climate, children are particularly susceptible to food and water shortages, water-borne diseases, and physical and psychological trauma.

 

Children’s access to essential services like education, healthcare, and safe drinking water is also impacted by this.

 

Assessment:

 

The report evaluated climate finance from MCFs serving the UNFCCC (United Nations Framework Convention on Climate Change) and Paris Agreement based on a set of three criteria. 

 

They included:

 

• addressing the unique and increased risks posed by the climate crisis, 

 

• enhancing the resilience of social services that focus on children iii. empowering children to be change agents.

 

The report’s key recommendations include:

 

• To close the adaptation gap, act quickly.

 

• Spend money on damages and losses brought on by climate change.

 

• Give children’s well-being and essential social services top priority.

 

• Concentrate on the children who are most at risk from the effects of the climate.

2. Number of people battling Drug Addiction globally up to 296 million: UNODC World Drug Report 2023

The United Nations Office on Drugs and Crime (UNODC) launched the World Drug Report 2023 on June 25, 2023. It says that in 2021, over 296 million people worldwide used drugs, up 23% from the previous decade.

 

In addition, the number of people with substance use disorders increased to 39.5 million, a 45 per cent increase in ten years.

 

What is the report about?

 

Drug trafficking, environmental crimes, clinical trials with psychedelics and medical cannabis, drug use in humanitarian settings, innovative drug treatment, drugs and conflict, socioeconomic disparities driving drug challenges, environmental destruction caused by illicit drug economies, violations of human rights, and the rising prevalence of synthetic drugs are all covered in the report.

 

Highlights:

 

Only one in five people will receive treatment for drug use in 2021, indicating that the demand for treatment of drug-related disorders is largely unmet.

 

Substance use disorders have a significant impact on youth populations in a variety of regions, including Africa, where 70% of people in treatment are under the age of 35. Youth populations are particularly susceptible to drug use.

 

Public health, preventative measures, and expanding access to treatment services must be prioritized.

 

Many people who use drugs do not have the right to health because it is still difficult for some people to get access to and obtain controlled substances for medical purposes.

 

Responses from law enforcement should keep up with changing criminal business models and the expanding market for inexpensive synthetic drugs.

 

Many illicit drug markets have been fundamentally altered by the simple, inexpensive, and quick production of synthetic drugs.

3. 3 MDBs, WHO launch health investment platform to strengthen primary healthcare

The World Health Organization (WHO) and three multilateral development banks—the African Development Bank (AfDB), the European Investment Bank (EIB), and the Islamic Development Bank (IsDB)—have collaborated to launch the new Health Impact Investment Platform.

 

In low- and middle-income countries (LICs and LMICs), this aims to strengthen and invest in climate and crisis-resistant Primary Healthcare Services (PHC).

 

Key Points:

 

The Summit for a New Global Financing Pact, which took place in Paris, France, from June 22 to 23, saw the launch of the Platform.

 

In the form of loans and grants for PHC services for vulnerable populations and communities, it will provide LICs and LMICs with €1.5 billion.

 

The Health Impact Investment Platform’s policy coordinator will be WHO, who will coordinate financing decisions with national health strategies and priorities. In support of government health strategies, the secretariat of the Platform will assist governments in developing national health plans and putting primary healthcare investment plans first.

 

NOTE: In order to expand the scope of this project to include Latin America and the Caribbean, the Inter-American Development Bank (IDB) is also considering joining this partnership.

Banking and Finance

1. Inflation is slowing down Personal Consumption Expenditure: RBI Report

According to the Reserve Bank of India (RBI)’s State of the Economy, inflation is reducing personal consumption expenditures. On the other hand, it is restricting private investment in capacity creation and reducing corporate sales.

 

This piece was published in the RBI Bulletin on June 23, 2023.

 

It should be noted that RBI does not endorse the viewpoints expressed in this article; rather, they are the authors’ own.

 

Key Points:

 

On the aggregate supply side, the most active sectors are the services, construction, and manufacturing sectors.

 

After three-quarters of profitability declines, manufacturing saw its first increase in net profits from January to March 2023.

 

Public spending on Capital Expenditure (Capex), which includes Public Sector Undertakings (PSUs) and rising launches and sales of residential housing units, will drive growth in the construction industry.

 

Services, which account for more than 60% of the economy’s gross value added, are likely to continue growing after the pandemic.

 

Despite high airfares on domestic and international routes, travel platforms, hotel chains, and hotel rates that are already comparable to pre-pandemic levels, summer travel is in high demand.

 

The Open Network for Digital Commerce (ONDC) significantly boosts trade sector gross value added, accelerates overall economic growth, and increases productivity in the e-commerce sector.

 

Wheat procurement is 39.5% higher than full-season procurement from 2022 on the agricultural front.

 

Procurement costs actually increased by 7.5 per cent as a result of a revision to the Minimum Support Prices (MSPs) for 14 major Kharif crops.

2. World Bank Approves USD 255.5 Million Loan to Enhance Technical Education in India 

India received a USD 255.5 million loan from one of the World Bank’s institutions, the International Bank for Reconstruction and Development (IBRD), on June 26, 2023, with a maturity period of 14 years and a five-year grace period to improve the quality of technical education and broaden students’ career options.

 

Over the course of five years, the project will benefit approximately 275 government-run technical institutions and more than 3.5 lakh students annually.

 

The World Bank’s support for India’s technical education sector aims to advance gender equality, provide students with the skills they need to compete in today’s job market, and encourage research and innovation.

 

Project for the Enhancement of Multidisciplinary Education and Research in Technical 

 

Education:

 

Recent research has shown that the tertiary education sector in India suffers from skill shortages in both technical and non-technical fields. In accordance with India’s National Education Policy 2020, the Multidisciplinary Education and Research Improvement in Technical Education Project of the World Bank aims to address these issues by focusing on enhancing student skills, employability, and institutional governance.

 

Students will receive up-to-date curriculum that incorporates cutting-edge communication and climate resilience technologies thanks to this project.

 

It will also improve internship and placement services, encourage students to network, and help them succeed in their chosen fields.

 

Increasing female participation in technical education, particularly among marginalized communities, is the project’s top priority. Misperceptions about women’s abilities in STEM (Science, Technology, Engineering, and Math) fields will be addressed through outreach programs. Female students will be motivated to succeed in their studies and gain work experience.

 

Additional Details:

 

In addition, the project aims to foster collaboration between academia, industry, and society by promoting research and innovation in crucial fields like climate change and sustainable energy. The participating institutions’ governance and internal quality assurance mechanisms will also be strengthened.

Economy and Business

1. Infosys signs USD 454 million deal with Danske Bank to accelerate its digital transformation

On 26th June 2023, Infosys (Data Frameworks), India’s No.2 Data

Innovation (IT) specialist co-op has teamed up with Denmark’s Danske Bank, by

marking an arrangement esteemed at USD 454 million for the long-term period to speed up its computerized change.

 

Infosys will help in digitalizing Danske Bank’s business by adding cloud, information

offices and it will likewise obtain Danske Bank’s IT place in India in the monetary

year (FY) 2023-24.

 

The joint effort will assist with accomplishing Danske Manage an account with’s better client

encounters, functional greatness, and a modernized innovation scene,

controlled by cutting-edge arrangements.

 

Note: Infosys utilizes Infosys Topaz, a simulated intelligence originally set of administrations, arrangements and stages, to speed up the bank’s computerized plan.

Science and Technology

1. IUCAA delivered a SUIT telescope to ISRO for the solar mission

The Indian Space Research Organization (ISRO) received the Solar Ultraviolet Imaging Telescope (SUIT), a space telescope developed by Pune’s Inter-University Center for Astronomy and Astrophysics (IUCAA), for its ADITYA-L1 solar mission.

 

One of the seven payloads of India’s first mission to study the sun, ADITYA-L1, is expected to be SUIT.

 

The telescope’s primary function is to acquire high-resolution images of the Sun’s atmosphere, or corona, in a variety of UV wavelengths and study the Sun’s ultraviolet (UV) emissions.

 

SUIT telescope characteristics:

 

The SUIT telescope will acquire previously unattainable full disk images of the sun in the 2000 to 4000 A (1 angstrom = 10-10 m) wavelength range.

 

The suit will function in the 200-400 nanometer range of far and near-ultraviolet. The transition region and the corona of the Sun’s atmosphere, which are hotter and more dynamic, will be observed by it.

 

ISRO initiated the SUIT plan in 2012, and work on its development began in 2016.

 

The dynamic of solar flares, which are sudden, violent outbursts of energy from the sun, will be studied by SUIT.

 

Regarding the Aditya L1 mission:

 

Aditya L1 will be put into a halo orbit around the SunEarth system’s Lagrange point 1 (L1), which is about 1.5 million kilometres from Earth.

The launch is anticipated for the end of August 2023.

 

The primary advantage of the L1 point is that it provides uninterrupted views of the Sun without eclipses.

 

The study of the sun’s atmosphere and the dynamics of solar winds are the primary goals of this mission.