UPSC QUIZ 01.11.2023

Explanation:

• Union Minister of Commerce and Industry participated in the G7 (Group of Seven) Trade Ministers Meeting in Osaka, Japan.
• India made an important intervention on the topic of Enhancing Supply Chain Resilience and gave several suggestions on the issue.
• India also mentioned that the Covid 19 pandemic and the geo-political events highlighted the vulnerabilities of the existing supply chains leading to increase in commodity prices and global Inflation.
• India urged the governments to collaborate on a regulatory framework to ease the movement of supply chains and facilitate cross border trade.

Explanation:

• A new study appears to show that the moon is about 40 million years older than previously thought.
• This finding, based on lunar dust collected in 1972 as part of the Apollo 17 mission, has implications for our understanding of the solar system's history.
• Apollo 17, for now, is the last human expedition to the moon making astronauts Eugene Cernan and Harrison Schmitt the last men to walk on the moon.
• The study reveals that the Moon is around 40 million years older than the previous estimate of 4.425 billion years.
• Its formation is now believed to date back around 4.46 billion years, aligning it closely with the early history of our solar system.

Explanation:

• International Energy Agency released World Energy Outlook 2023.
• According to the World Energy Outlook 2023, Fossil fuel demand would reach its peak by 2030.
• Under existing policies of governments, Global emissions are on track to raise temperatures by 2.4 degrees Celsius.
• Oil and natural gas demand will reach its peak before 2030. The rise of electric vehicles (EVs) is contributing to the shift from fossil fuels.
• Liquefied natural gas (LNG) demand in 2050 will be 15 per cent lower than projected earlier.
• At present, investments in clean energy and infrastructure are around $1.8 trillion as compared to $1 trillion in fossil fuels.
• International Energy Agency recommended maintaining current investments in fossil fuels across all scenarios to fulfil current demand and prevent abrupt supply shortages.
• The report emphasised the importance of ensuring a balanced mix of investments. It pointed out that investment should not be solely on solar, wind power, and electric vehicles.
• The IEA emphasised the importance of political and commercial ties between energy producers and consumers in managing energy supply and demand.
• World Energy Outlook 2023 report lauded the transformation in India’s energy landscape in the last few decades.

Explanation:

• Financial Action Task Force (FATF) has removed the Cayman Islands from its grey list.
• It has added Bulgaria to the grey list in its review published on 27 October 2023.
• FATF has also removed Panama, Jordan and Albania from the grey list.
• The Cayman Islands was added to the grey list in 2021.
• It was in the news during the investigation into charges made by Hindenburg Research against the Adani Group.
• As per the National Securities Depository (NSDL) website, 385 foreign portfolio investors (FPIs) registered in India are based in the Cayman Islands.
• Cayman Islands is seen as an important jurisdiction for both FPI and FDI flows into India.
• The jurisdictions included in the grey list are placed under increased monitoring.

Explanation:

• Several development projects worth Rs 5,900 crore were inaugurated and laid the foundation stone by PM Modi in the Mehsana district of Gujarat.
• Prime Minister Narendra Modi has said that the government is continuously working during Amrit Kaal to make the country a developed nation in every field by 2047.
• The infrastructure projects inaugurated will strengthen connectivity in North Gujarat, boost tourism, and also bring prosperity and happiness to the people.
• The government has ensured all basic facilities including water, and electricity to every household in this area and is now working on strengthening the dairy and agriculture-related sectors to increase the income of farmers and livestock farmers.
• During the last two decades, the government has established more than eight hundred dairies at the village level in Gujarat.
• Projects in the rail, road, drinking water, and irrigation sectors will benefit seven districts of North and Central Gujarat.
• The Prime Minister also launched the new Bhandu-New-Sanand (North) section of the Western Dedicated Freight Corridor (WDFC), the doubling project of the Viramgam-Samakhiyali rail line and the Katosan-Bechrajee rail project.
• Shri Modi inaugurated lake recharge projects in various villages in Mehsana and Gandhi Nagar districts.