UPSC QUIZ 15.05.2024

Explanation:

• America and Australia have accused India of giving subsidies to sugarcane farmers much more than the limits prescribed in global trade norms.
• Both countries told WTO that they estimate that in the period 2018-19 to 2021-22, New Delhi provided sugarcane subsidies between 91-100% which was "significantly above the prescribed limit" at 10% of the value.

WTO’s Agreement on Agriculture

• The Agreement on Agriculture (AoA) is an international treaty established by the World Trade Organization (WTO).
• It was negotiated during the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) and entered into force with the establishment of the WTO on 1st January 1995.

Explanation:

• National Green Tribunal (NGT) formed a committee to look into the complaint of the illegal operation of stone crushers and mining quarries in an eco-sensitive zone of Orchha Wildlife Sanctuary.
• According to the NGT, immediate action is required for the disposal of 337 tonnes of chemical waste, addressing groundwater contamination, shortage of piped water, and monitoring iron, manganese and nitrate concentrations exceeding the permissible limit.

Key Points About the Orchha Wildlife Sanctuary

• It was established in 1994 and is located within a large forest area.
• It is situated near the Betwa River (a tributary of the Yamuna), in the border region between Madhya Pradesh and Uttar Pradesh, contributing to its unique ecosystem and biodiversity.

Explanation:

• The prestigious Sahitya Akademi Fellowship has been given to Ruskin Bond, a renowned British-Indian author. This honor was given to him at his home in Mussoorie.
• At first, Bond was named the winner of this prestigious award in September 2021. The official presentation had to be pushed back because of health problems, but it was finally done recently.

Background of Sahitya Akademi Fellowship

• The Sahitya Akademi Fellowship is the top award that India’s National Academy of Letters, the Sahitya Akademi, gives out.
• The winner of this award has made “exceptional contributions towards enriching Indian literature.” Winners are chosen based on how much they have done in the writing world throughout their careers.

Explanation:

• The new liquid rocket engine manufactured through additive manufacturing technology by the Indian Space Research Organization (ISRO) successfully tested.
• On 9 May, the test successfully conducted at ISRO Propulsion Complex in Mahendragiri, Tamil Nadu.
• This newly redesigned PS4 engine has reduced the number of parts from 14 to one piece and eliminated 19 weld joints.
• This will result in significant savings in raw material usage per engine, reducing metal powder from 565 kg to 13.7 kg and reducing production time by 60%.
• This new, redesigned engine will be utilized in both the PSLV First Stage Reaction Control System and fourth stage of the PSLV launch vehicle.
• ISRO is planning to include this PS4 engine in the regular PSLV programme.

Explanation:

• In FY 2023-24, Oil Marketing Companies registered significant profit growth.
• The total profit of Oil marketing companies stood at 86 thousand crore rupees in the financial year 2023-24. It is 25 times more than last fiscal year's profit.
• Oil Marketing Companies' net profit is 543% up in comparison to the fiscal year 2013-14.
• Hindustan Petroleum Corporation Limited registered a record net profit of over Rs 16,014 crore. It was in loss of six thousand 980 crore rupees in the 2022-23.
• In the last fiscal year, Bharat Petroleum Corporation Limited's profit reached to 26 thousand 673 crore rupees. It is around 13 times higher than the 2022-23 fiscal year.
• BPCL’s capital outlay of ₹1.7 lakh crores over 5 years under ‘Project Aspire’ created long-term value for shareholders.
• IOCL capped an excellent year with the historically best refinery throughput, sales volume and net profit.
• After the announcement of results, markets reacted positively to the results with BPCL and HPCL rising in share prices.