Flash Card

LAKSHYA-75 [Day-23] Current Flash Cards for IAS Prelims 2020

Anaemia;Operation Clean Art; Instrument in Support of Trade Exchanges; Emissions Gap Report;Alliance of Small Island States; Green Windows; Rotterdam Convention; Budapest Convention; National Small Savings Fund (NSSF); Wholesale Price Index (WPI).
By IASToppers
March 29, 2020

 

 

Enlist the difference between Wholesale Price Index (WPI) and Consumer Price Index (CPI).

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Solution:

Difference between WPI and CPI

  • WPI is for only goods whereas CPI is for goods as well as services.
  • Inflation is measure in the first stage in WPI while it is measure in final stage in CPI.
  • Item covered in WPI is fuel, power and manufacturing products and in CPI: education, food, transport, communication, recreation, apparel, housing and medical care are covered.
  • WPI covers 697 items while CPI covers 448 items for rural and 460 for urban.
  • WPI is used by very few countries whereas CPI is used by 157 countries.
  • WPI is released weekly for Primary articles, fuel and power while it is released monthly for rest of the items. CPI is released on monthly basis.

Enrich Your Learning:

Wholesale Price Index (WPI):

  • The Wholesale Price Index (WPI) is the price of a representative basket of wholesale goods.
  • Office of Economic Advisor, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry calculates the WPI.
  • Figures related to WPI are published by the Office of Economic Advisor (Ministry of Commerce & Industry).
  • The current WPI with base year 2011-12 is effective from April 2017.

Calculation of WPI

  • The monthly WPI shows the average price changes of goods usually expressed in ratios or percentages.
  • The index is based on the wholesale prices of a few relevant commodities available. The commodities are chosen based on their significance in the region. These represent different strata of the economy and are expected to provide a comprehensive WPI value.

WPI Food Index

WPI has a sub-index called WPI Food Index, which is a combination of the Food Articles from the Primary Articles basket, and the food products from the Manufactured Products basket.

Consumer Price Index (CPI):

  • CPI measures changes in the price level of a weighted average market basket of consumer goods and services purchased by households.
  • CPI is released by Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation (MOSPI).

Difference between WPI and CPI

  • WPI is for only goods whereas CPI is for goods as well as services.
  • Inflation is measure in the first stage in WPI while it is measure in final stage in CPI.
  • Item covered in WPI is fuel, power and manufacturing products and in CPI: education, food, transport, communication, recreation, apparel, housing and medical care are covered.
  • WPI covers 697 items while CPI covers 448 items for rural and 460 for urban.
  • WPI is used by very few countries whereas CPI is used by 157 countries.
  • WPI is released weekly for Primary articles, fuel and power while it is released monthly for rest of the items. CPI is released on monthly basis.

WPI focuses on the prices of goods traded between business houses whereas CPI focuses on the prices of goods purchased by consumers

 

 

What is the objective of National Small Savings Fund (NSSF)?

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Solution:

  • The objective of NSSF is to de-link small savings transactions from the Consolidated Fund of India and ensure their operation in a transparent and self-sustaining manner.

Enrich Your Learning:

National Small Savings Fund (NSSF)

  • Established in 1999, NSSF is administered by Department of Economic Affairs, Ministry of Finance.
  • All deposits received under National Saving Schemes are credited to NSSF.
  • The objective of NSSF is to de-link small savings transactions from the Consolidated Fund of India and ensure their operation in a transparent and self-sustaining manner. Since NSSF operates in the public account, its transactions do not impact the fiscal deficit of the Centre directly.

About Small Saving schemes

Small Saving schemes can be classified under three heads.

  • Postal deposits [comprising savings account, recurring deposits, time deposits of varying maturities and monthly income scheme(MIS)];
  • Savings certificates [(National Small Savings Certificate VIII (NSC) and Kisan Vikas Patra (KVP)]; and
  • Social security schemes [(public provident fund (PPF) and Senior Citizens‘ Savings Scheme(SCSS)].

 

 

India has ratified the Budapest Convention OR not?

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Solution:

India is yet to ratify the convention.

 

Enrich Your Learning:

What is Budapest Convention?

The Budapest Convention, also known as Convention on Cybercrime, is the first international treaty seeking to address Internet and computer crime (cybercrime) by harmonizing national laws, improving investigative techniques, and increasing cooperation among nations.

The Budapest Convention provides for:

  • Negotiated by the member States of the Council of Europe together with Canada, Japan, South Africa and the United States of America, the Convention on Cybercrime was opened for signature in Budapest, Hungary, in November 2001.
  • Along with countries,10 international organisations (such as the Commonwealth Secretariat, INTERPOL, International Telecommunication Union and the UN Office on Drugs and Crime) are either members or observers of the convention.
  • India is yet to ratify the convention.

What is the significance of the convention?

  • The convention serves as a guideline for any country developing comprehensive national legislation against Cybercrime and as a framework for international cooperation between State Parties to this treaty.
  • Help setting up a fast and effective regime of international cooperation to tackle cybercrime, also help address the transnational character of cybercrimes.

 

 

Prior Informed Consent (PIC) procedure is followed by which international convention?

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Solution:

Prior Informed Consent (PIC) procedure is followed by Rotterdam Convention.

Enrich Your Learning:

What is the Rotterdam Convention?

  • A United Nations treaty, the Rotterdam Convention is a multilateral environmental agreement which prescribes obligations on the importers and exporters of certain hazardous chemicals.
  • The Convention’s objective is to promote shared responsibility and cooperative efforts among parties in the international trade of listed chemicals in the Rotterdam Convention, to protect human health and the environment, and to contribute to the environmentally sound use of chemicals.
  • The convention focuses on an open exchange of information and calls on exporters of hazardous chemicals to use proper labelling, include directions on safe handling, and inform purchasers of any known restrictions or bans.
  • Signatory nations can decide whether to allow or ban the importation of chemicals listed in the treaty, and exporting countries are obliged to make sure that producers within their jurisdiction comply.
  • The Prior Informed Consent (PIC) procedure is the mechanism for formally obtaining and disseminating the decisions of importing Parties, as to whether they wish to receive future shipments of those chemicals listed in Annex III of the Convention and for ensuring compliance with these decisions by exporting Parties. The chemicals listed in Annex III include pesticides and industrial chemicals that have been banned or severely restricted for health or environmental reasons by two or more Parties and which the Conference of the Parties has decided to subject to the PIC procedure.
  • India ratified the Convention in 2005. The United States is yet to ratify the convention.
  • Recently two new chemicals named Phorate and HBCD (hexabromocyclododecane) were added to the list for mandatory Prior Informed Consent (PIC) procedure in international trade.

 

 

Recently, the Indian Renewable Energy Development Agency (IREDA) announces a Green Window. What is Green Window?

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Solution:

  • A green window is a financing approach designed leverage limited government funds to attract private capital to achieve climate and clean energy goals.

Enrich Your Learning:

Green Windows:

Why in news?

  • Recently, the Indian Renewable Energy Development Agency (IREDA) announces a “Green Window” to Catalyze Climate Finance and to boost investment in clean energy at the 25th session of the UN Climate Conference (COP25) in Madrid.
  • A green window is a financing approach designed leverage limited government funds to attract private capital to achieve climate and clean energy goals.
  • The Indian Renewable Energy Development Agency (IREDA) is considering an allocation of $20 million in seed funding to set up its pioneering “Green Window” aimed toward catalysing private investment and expanding the Indian clean energy market.
  • The IREDA Green Window builds on the globally successful green bank model.
  • The aim of the IREDA Green Window is to drive investment into underserved segments of the clean energy market.

 

 

Alliance of Small Island States is a coalition of more than 50 Small Island and low-lying coastal developing states. True OR False.

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Solution:

False

Correct Statement:

Alliance of Small Island States is a coalition of 44 Small Island and low-lying coastal developing states.

Enrich Your Learning:

Alliance of Small Island States (AOSIS)

  • AOSIS is a coalition of 44 Small Island and low-lying coastal developing states, including five observers.
  • It was established in 1990 and its main aim is to consolidate the voice of Small Island Developing States to address global warming.
  • It draws on partnership with the United Nations Development Programme (UNDP) and the European Commission to achieve its goal.
  • AOSIS centres its advocacy on three key areas—climate change, sustainable development and ocean conservation.
  • The organization put its first draft text in Kyoto Protocol in 1994.
  • The alliance represents 28% of the developing countries and 20% of the UN’s total membership.

 

 

Globally, Iron deficiency is thought to be the most common cause of anaemia. True OR False.

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Solution:

True

Enrich Your Learning:

Anaemia

  • Anaemia is a condition in which the number of red blood cells or their oxygen-carrying capacity is insufficient to meet physiologic needs, which vary by age, sex, altitude, smoking, and pregnancy status.
  • Iron deficiency is thought to be the most common cause of anaemia globally, although other conditions, such as folate, vitamin B12 and vitamin A deficiency, chronic inflammation, parasitic infections, and inherited disorders can all cause anaemia.
  • In its severe form, it is associated with fatigue, weakness, dizziness and drowsiness. Pregnant women and children are particularly vulnerable.
  • About 58.5% of children below five years of age in India are anaemic.
  • Maternal education plays a very important role in reducing the incidence of childhood anaemia in any society and indeed in India.
  • The 52.9% of children in the rich households were marked anaemic, the number was 63.2% in the poorest households. 
  • Severe anaemia in mothers and premature delivery can also lead to childhood anaemia.

Anaemia in Men

  • A Lancet Global Health report noted that 23% of Indian men suffered from anaemia.

 

 

The Emission Gap is published by?

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Solution:

  • The Emission Gap is published by United Nations Environment Programme (UNEP).

Enrich Your Learning:

Emissions Gap Report

  • The Emissions Gap could also be called the “Commitment Gap”. It measures the gap between what we need to do and what we are actually doing to tackle climate change. 
  • The Emission Gap is published by United Nations Environment Programme (UNEP).

This report measures and projects three key trendlines:

  • The amount of greenhouse gas emissions every year up to 2030.
  • The commitments countries are making to reduce their emissions and the impact these commitments are likely to have on overall emission reduction.
  • The pace at which emissions must bereduced to reach an emission low that would limit temperature increase to 1.5-degree C.

Report highlights

  • The report presents the latest data on the expected gap in 2030 for the 1.5°C and 2°C temperature targets of the Paris Agreement.
  • It considers different scenarios, from no new climate policies since 2005 to full implementation of all national commitments under the Paris Agreement.
  • For the first time, it looks at how large annual cuts would need to be from 2020 to 2030 to stay on track to meeting the Paris goals.
  • This year, the report looks at the potential of the energy transition – particularly in the power, transport and buildings sectors – and efficiency in the use of materials such as iron steel and cement.

 

 

Instrument in Support of Trade Exchanges (INSTEX) allows European Union to do trade with which country?

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Solution:

Instrument in Support of Trade Exchanges (INSTEX) allows European Union to do trade with Iran.

Enrich Your Learning:

Instrument in Support of Trade Exchanges (INSTEX)

  • The European Union (EU) has announced the setting up of a payment mechanism to secure trade with Iran.
  • It will allow trade between the EU and Iran without relying on direct financial transactions. 
  • It is a project of the governments of France, Germany and Britain and will receive the formal endorsement of all 28 EU members.
  • The mechanism is the first concrete step by the EU to counter US President’s unilateral decision to withdraw from the 2015 nuclear deal.
  • INSTEX will initially be used for non-sanctionable trade, including humanitarian goods such as medicine, food and medical devices.
  • The proposal of a financial instrument has been a key element in the EU’s strategy to keep Iran from quitting the 2015 nuclear agreement.

The 2015 nuclear deal

  • In 2015, Iran agreed a long-term deal on its nuclear programme with a group of world powers known as the P5+1 – the US, UK, France, China, Russia and Germany.
  • Under the accord, Iran agreed to limit its sensitive nuclear activities and allow in international inspectors in return for the lifting of crippling economic sanctions.
  • In simple terms, the 2015 nuclear agreement was signed to prevent Iran from building nuclear weapons in exchange for sanctions relief.
  • Iran’s uranium stockpile was reduced by 98% to 300kg (660lbs) under the deal, a figure that must not be exceeded until 2031. It must also keep the stockpile’s level of enrichment at 3.67%.
  • No enrichment will be permitted at Fordo until 2031, and the underground facility will be converted into a nuclear, physics and technology centre.

 

 

The operation Art, as recently seen in news, is related with which animal?

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Solution:

The operation Art, as recently seen in news, is related with Mongoose.

Enrich Your Learning:

What is Operation Clean Art?

  • Operation Clean Art was the first pan India operation carried out under the aegis of the Wildlife Crime Control Bureau. The raids were carried out in Uttar Pradesh, Rajasthan, Maharashtra, and Kerala.
  • The aim of the mission is to end mongoose-hair paintbrush trade in the country. Mongoose hair brushes are superior and hold colour better and this is the reason the trade exists.
  • The Mongoose is listed under the Schedule II Part 2 of the Wildlife Protection Act. Any smuggling or possession of body part is a non-bailable offence.
  • Hair from six species of mongoose found in India is illegally used to manufacture paintbrushes. According to estimates, for around 150 kg of mongoose hair, at least 6000 animals would have been killed.

What is a Mongoose?

  • The Indian grey mongoose is one of the major species of Mongoose. It is found in Saudi Arabia, Kuwait, Bahrain, Iran, Afghanistan, Pakistan, India, Nepal, Sri Lanka, and Bangladesh.
  • It is commonly found in open forests, scrublands and cultivated fields.
  • It preys on rodents, snakes, birds’ eggs and hatchlings, lizards and variety of invertebrate
  • It is also the state animal of Chhattisgarh.
  • The current IUCN status is Least Concerned.
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Daily Current Flash Cards 2020 Prelims 2020
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