UPSC QUIZ 13.06.2024

Explanation:

• India participated in the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial Meeting, held in Singapore, showcasing the significant strides made in fostering economic engagement among partner countries in the Indo-Pacific region.

Key Highlights of the Meeting

• IPEF members signed 3 agreements focused on the Clean Economy, Fair Economy, and the overarching IPEF Agreement.
• India did not formally sign these agreements as the domestic approval process is still underway.

Clean Economy Agreement

• It aims to accelerate efforts towards energy security, climate resilience, and reducing GHG emissions.
• India has taken a leading role in launching a new collaborative effort called a "Cooperative Work Programme" (CWP) that is focused on recovering valuable resources from electronic waste, also known as e-waste urban mining.

Explanation:

• The report titled "The Growing Burden on Global Prosperity" reveals an unprecedented global debt crisis in the world.Currently, about 3.3 billion people live in countries where the interest payment on debt is more than the expenditure on education or health.

Global Debt

• Debt is the amount of money that a person borrows and later has to repay.
• Global debt refers to the total amount of debt owed by governments, businesses and individuals around the world.
• It includes both public and private debt.

Composition of global debt

• Public debt: This is the amount of money owed by governments to domestic and foreign lenders. It is usually financed by issuing bonds, Treasury bills or borrowing from international organisations.
• Private debt: This is the amount of money owed by businesses and individuals to banks, lenders and other financial institutions. It includes mortgages, corporate bonds, student loans and credit card debt.

Explanation:

• On the occasion of World Environment Day, ISRO informed about its collaborative effort with French National Space Agency CNES for the upcoming Thermal Infrared Imaging Satellite for High-resolution Natural Resource Assessment (TRISHNA) mission.

TRISHNA Mission

• TRISHNA mission is a collaborative effort between ISRO and National Centre for Space Studies (CNES).
• Two primary payloads have been installed in this satellite mission.
• Thermal Infra-Red (TIR) Payload: It is a four-channel long-wave infrared imaging sensor capable of high-resolution mapping of surface temperature and emissivity. It has been developed by CNES.
• Visible-Near Infrared-Short Wave Infrared (VNIR-SWIR) payload: It consists of seven spectral bands designed for detailed mapping of surface reflectance to yield important biophysical and radiation budget variables. This payload has been developed by ISRO.

Explanation:

• The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) has voted by a 4:2 majority to keep the policy repo rate unchanged at 6.5% for eight consecutive times.
• This information was provided by the RBI Governor Shaktikanta Das on 7 June 2024 while announcing the second bi-monthly monetary policy of the financial year 2024-25.
• The second bi-monthly Monetary Policy Committee meeting of fiscal year 2024-25 was held on June 5 to 7, 2024.
• The next meeting of the MPC is scheduled for 6-8 August 2024. The MPC is mandated to meet at least four times in a financial year, which runs from 1 April to 31 March.

Explanation:

• Bhajan Lal Sharma, the Chief Minister of Rajasthan Bhajan Lal Sharma announced that the state government will develop the Maharana Pratap Tourist Circuit with an investment of Rs 100 crore.
• The Chief Minister made this announcement on 8 June 2023 while inaugurating the Maharana Pratap Jayanti celebration in Udaipur.
• The 484th birthday of Maharana Pratap of Mewar was celebrated on 9 June 2024 (according to the Hindu calendar).

Maharana Pratap Tourist Circuit

• Bhajan Lal Sharma’s government, in its maiden budget, has allocated Rs 100 crore for the development of the Maharana Pratap Tourist Circuit.
• Places associated with Maharana Pratap of Mewar's life will be developed as part of the project. These include Udaipur, Chawand, Haldighati, Gogunda, Kumbhalgarh, Dewar,Chhapli, and Chittorgarh.
• Under the project, the Rajasthan Tourism Development Corporation will develop museums and basic amenities for tourists and improve the overall connectivity to these places.