August 2, 2023 | Your One-Stop Solution for Daily Preparation
Carbon Capture and Storage | Explained
Discover the potential of Carbon Capture and Storage (CCS) technology in cutting emissions and combating climate change. Explore how CCS captures and stores CO2 from industries and power plants, fostering carbon-neutral practices and supporting a transition to renewable energy. Learn about the challenges and benefits of CCS, and its vital role in building a sustainable and climate-resilient future.
Highlights of the Day
1. Seven Unique Indian Crafts Awarded Coveted Geographical Indication Tags, Celebrating India's Rich Artistic Heritage
Seven unique products from different regions of India were recently awarded the prestigious Geographical Indication (GI) tag by the Geographical Indications Registry in Chennai. Among them, four are from Rajasthan: 'Jalesar Dhatu Shilp,' a metal craft from Uttar Pradesh; 'Goa Mankurad Mango,' a popular variety named by the Portuguese; 'Goan Bebinca,' a traditional Indo-Portuguese pudding; 'Udaipur Koftgari Metal Craft,' featuring exquisitely ornamented weapons; 'Bikaner Kashidakari Craft,' known for fine stitches and mirror-work; 'Jodhpur Bandhej Craft,' a renowned art of tying and dyeing fabrics; and 'Bikaner Usta Kala Craft,' involving the skilled processing of raw camel hide by the Dapgar community. These GI tags protect and promote the uniqueness of these crafts and products from their respective regions [1].
2. WHO Endorses Polypills for Cardiovascular Prevention, Marking a Major Breakthrough in Global Health
The World Health Organization (WHO) has included three fixed dose combinations of cardiovascular medicines, known as polypills, in its revised Model Lists of Essential Medicines (EML) for 2023. The decision comes after extensive research demonstrating that polypills significantly reduce the risk of cardiovascular events, including heart attacks and strokes, in both primary and secondary prevention settings. The inclusion of the polypill in the EML is a culmination of two decades of work by researchers, including Dr. Salim Yusuf, who proved the safety and efficacy of the polypill. This low-cost intervention is expected to prevent millions of cardiovascular events and deaths globally [2].
3. PM Narendra Modi to Simultaneously Lay Foundation Stones for 500 Railway Station Redevelopment Projects as part of Azadi ka Amrit Mahotsav
As part of the Azadi ka Amrit Mahotsav, Prime Minister Narendra Modi will lay the foundation stones for 500 railway station redevelopment projects simultaneously. These projects are part of the Amrit Bharat Station Scheme, aiming to enhance station facilities across India. The scheme includes improvements such as foot-overbridges, escalators, elevators, parking areas, landscaping, passenger information systems, signages, and more. The redevelopment will cover stations from different states, both well-known and lesser-known ones, in an effort to create better amenities and services for passengers. The project, launched in December 2022, aims to modernize railway stations and has gained momentum in the past year [3].
4. Government Sets Target to Disburse 63 Lakh Loans for Street Vendors by December 2023
The Union Housing and Urban Affairs Ministry has set a new target to disburse 63 lakh loans under the Pradhan Mantri Street Vendors Atmanirbhar Nidhi (PM SVANidhi) scheme by December 2023. The scheme, launched during the Covid-19 pandemic, provides working capital loans of Rs 10,000 to street vendors. The new target aims to benefit more street vendors and facilitate their inclusion into the formal economy. The scheme has already disbursed 50 lakh loans to 39 lakh beneficiaries since its launch in 2020. The ministry has asked state authorities to devise a monitoring mechanism to achieve the revised targets and empower street vendors nationwide [4].
5. Plastic Overshoot Day Hits Earth on July 28, 2023, Signaling Global Plastic Pollution Crisis
The Earth experienced its first Plastic Overshoot Day on July 28, 2023, surpassing the global waste management capacity. The Plastic Overshoot Day Report by Earth Action (EA) reveals that an additional 68,642,999 tonnes of plastic waste will enter the environment this year. India is among the top 12 countries responsible for 52% of the world's mismanaged plastic waste. Despite pledges and increased waste management capacity, plastic pollution is projected to triple by 2040. India's Overshoot Day was January 6, 2023. The report highlights the need for better waste management policies, phasing out single-use plastics, and supporting an ambitious UN Plastic Treaty to combat plastic pollution [5].
Source: The Hindu | Indian Express | DownToEarth
Practice Questions for Prelims
Q1: Which of the following events took place during the reign of Emperor Akbar?
a) Battle of Plassey
b) Third Battle of Panipat
c) Annexation of Punjab
d) Introduction of the Mansabdari system
Q2: What does the term "Liquidity Trap" refer to in macroeconomics?
a) A situation where the money supply exceeds the demand for money
b) A scenario where interest rates are very high, leading to decreased investment
c) An economic condition in which monetary policy becomes ineffective
d) A condition of excessive government borrowing leading to inflation Q3: Consider the following statements about "Gross Domestic Product (GDP)":
I. GDP measures the total monetary value of all goods and services produced within a country's borders in a specific time period.
II. It includes the value of intermediate goods used in the production process.
III. GDP can be used to compare the economic performance of different countries.
Select the correct option:
a) I and II only
b) II and III only
c) I and III only
d) I, II, and III
Q4: Consider the following statements about "Fiscal Deficit":
I. Fiscal Deficit represents the excess of government revenue over government expenditure.
II. It indicates the borrowing requirements of the government.
III. Fiscal Deficit is a part of the total debt of the government.
Select the correct option:
a) I and II only
b) II and III only
c) I and III only
d) I, II, and III
Q5: Which of the following statements about "Montreal Protocol" is accurate?
a) It aims to address the depletion of the ozone layer.
b) The protocol was adopted in 2000 and came into force in 2005.
c) India is not a signatory to the Montreal Protocol.
d) The protocol focuses on reducing greenhouse gas emissions to combat climate change.
Today’s Question for Mains Answer Writing
Geographical Indications (GI) Tags play a crucial role in protecting traditional knowledge and cultural heritage of products. Analyze the significance of GI tags in promoting indigenous crafts and agricultural products, ensuring fair economic returns to local communities, and fostering rural development. Discuss the challenges faced in obtaining GI protection and the measures required to strengthen the GI registration process (Word limit: 250 words).
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