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The government had constituted a ten Member, High Level Committee under the Chairmanship of Justice B.N.Srikrishna, Retired Judge, Supreme Court of India to review the institutionalization of arbitration mechanism and suggest reforms thereto.
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Justice B N Srikrishna, former judge of the Supreme Court of India will head a Committee of experts which has been formed to deliberate on a data protection framework for the country.
Key facts:
The government led ten-member committee will “identify key data protection issues in India and recommend methods of addressing them.”
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The Comptroller and Auditor General of India has said in an audit report on the Food Corporation of India (FCI) that more than 4.72 lakh tonnes of wheat valued at Rs700.30 crore got damaged in Punjab till March 2016 due to delay in implementation of the private entrepreneur scheme
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What is no detention policy?
The no-detention policy was introduced as a part of the Continuous and Comprehensive Evaluation (CCE) under the Right to Education Act (RTE) in 2010. Under this policy, students up to class 8 are automatically promoted to the next class without being held back even if they do not get a passing grade.
TSR Subramanian committee for formulation of the National Policy on Education has also suggested that ‘no detention’ policy should be discontinued after Class V. It had recommended restoration of detention provision, remedial coaching and two extra chances to each student such to move to a higher class.
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A new Exchange Traded Fund (ETF) by the name BHARAT 22 was recently launched.
bharat 22
What you need to know about BHARAT 22?
Bharat 22 consists of 22 stocks of CPSE’s, PSB’s & strategic holding of SUUTI. Bharat 22 is a well Diversified portfolio with 6 sectors (Basic Materials, Energy, Finance, FMCG, Industrials & Utilities).
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In an attempt to promote innovation and entrepreneurship in agriculture, the government is launching a new AGRI-UDAAN programme that will mentor startups and help them connect with potential investors.
Key facts:
The programme will help convert innovative ideas from India’s rural youth into viable businesses. The idea is to attract the youth from rural India and elsewhere, and train them so they can add value to the farmers’ produce.
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The Nasa-Isro Synthetic Aperture Radar (NISAR) mission is a joint project between NASA and ISRO to co-develop and launch a dual frequency synthetic aperture radar satellite.
The satellite will be the first radar imaging satellite to use dual frequency and it is planned to be used for remote sensing to observe and understand natural processes of the Earth.
It is also designed to observe and take measurements of some of the planet’s most complex processes, including ecosystem disturbances, ice-sheet collapse, and natural hazards such as earthquakes, tsunamis, volcanoes and landslides.
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About NavIC:
NAVIC is an independent regional navigation satellite system designed to provide position information in the Indian region and 1500 km around the Indian mainland. It provides two types of services, namely Standard Positioning Services available to all users and Restricted Services provided to authorised users.
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How proxy voting takes place?
The Union Cabinet’s approval for proxy voting by NRIs carries a caveat: they cannot nominate one proxy for all polls. Overseas electors will have to appoint a nominee afresh for each election — one person can act as proxy for only one overseas voter. The proxy voter should be an ordinary resident of the constituency one is voting in.
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BRICS Agriculture Research Platform (BRICS-ARP).
BRICS-ARP will be the natural global platform for science-led agriculture-based sustainable development for addressing the issues of world hunger, under-nutrition, poverty and inequality, particularly between farmers’ and non-farmers’ income, and enhancing agricultural trade, bio-security and climate resilient agriculture.
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What you need to know about the RAISE Act?
The RAISE Act would scrap the current lottery system to get into the US and instead institute a points-based system for earning a green card. Factors that would be taken into account include English language skills, education, high- paying job offers and age.
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Asia-Africa Growth Corridor (AAGC):
Aiming to strengthen the growth and connectivity between Asia and Africa, India and Japan initiated the Asia-Africa Growth Corridor (AAGC), which primarily focuses on Development Cooperation Projects, Quality Infrastructure and Institutional Connectivity, Enhancing Skills, and People-to-People Partnership.
----Reportedly, China is Africa’s largest economic partner with a trade growth rate of 20% per year since 2002 and AAGC initiative by China’s two Asian rivals is key for the trans-continent relation between the Asian and African countries.
Is AAGC a counter to OBOR?
Unlike OBOR which entails development of a land corridor, AAGC will essentially be a sea corridor linking Africa with India and other countries of South-East Asia and Oceania
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RBI plans to set up public credit registry
RBI has announced the creation of a panel to consider creation of a Public Credit Registry (PCR) operated by the regulator.
What you need to know about the PCR?
The PCR will be an extensive database of credit information for India that is accessible to all stakeholders. The idea is to capture all relevant information in one large database on the borrower and, in particular, the borrower’s entire set of borrowing contracts and outcomes.
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Israel launches first environmental research satellite Venμs
The technological mission of the satellite will test the operation of an innovative electric propulsion system based on the Israeli-designed Hall Effect Thrusters. A Hall-effect thruster (HET) is a relatively low power device used to propel a spacecraft after entering orbit or farther out into space.
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Coconut palm declared State tree of Goa:
The Goa state government has decided to include coconut palm as a tree in the Goa, Daman and Diu Preservation of Trees Act, 1984, to regulate felling of coconut trees under the act. The cabinet has also resolved to declare the coconut tree as the “state tree”.
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The government has launched a portal, e-RaKAM, to provide a platform to sell agricultural produce.
Key facts:
E-RaKAM is a first-of-its-kind initiative that leverages technology to connect farmers of the smallest villages to the biggest markets of the world through internet and e-RaKAM centres.
The portal is a joint initiative by state-run-auctioneer MSTC and Central Warehousing Corporation arm CRWC.
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According to a research report from the University of California, Climate change may have led to over 59,000 farmer suicides over the last 30 years in India.
The study tested the link between climate change, crop yields and suicide by comparing the number of suicides across India between 1967 and 2013 with crop yield and climate data. Data on suicides were collected from the National Crime Records Bureau
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india, China home to 39% of young Internet users: UN report
The ICT Facts and Figures 2017 report released by the International Telecommunication Union (ITU), the United Nations specialised agency for Information and Communication Technologies (ICTs), shows that of the 830 million young people online worldwide, 320 million, or 39%, are in China and India.
ITU is the United Nations specialized agency for information and communication technologies – ICTs.
It allocates global radio spectrum and satellite orbits, develops the technical standards that ensure networks and technologies seamlessly interconnect, and strives to improve access to ICTs to underserved communities worldwide.
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About the Public Financial Management System:
The PFMS, also known as Central Plan Scheme Monitoring System (CPSMS), tracks fund disbursement and ensures that state treasuries are integrated with the Centre to ensure money is send as and when required.
PFMS, administered by the department of expenditure, is an end-to-end solution for processing payments, tracking, monitoring, accounting, reconciliation and reporting. It is a web based application.
The PFMS platform compiles, collates and makes available in real-time, information regarding all government schemes, and, significantly, provides the government real-time information on resource availability and utilisation across schemes.
In addition, the platform will allow government expenditure to adopt a Just-in- Time (JIT) approach, with payments made only when they are needed.
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National Campaign Against Mob Lynching (NCAML)
It has initiated a campaign for a law against mob lynching.
Also known as ‘#Masuka’, short for Manav Suraksha Kanoon (law to protect humans)
A draft of the proposed legislation is currently up on the Internet, awaiting suggestions from the public.
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What is a Parliamentary Budget Office(PBO)?
A PBO is an independent and impartial body linked directly to Parliament
A PBO is comprised of independent and specialised staff, such as Budget analysts, economists, public finance experts
It provides technical and objective analysis of Budgets and public finance to the House and its committees
Its core functions include Budget approval, scrutiny of its implementation
The PBO must be non-partisan, independent and mandated to serve all parliamentarians
Its output, and the methods by which those outputs are prepared must be transparent, accessible and understandable
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