Flash Card

LAKSHYA-75 [Day-58] Current Flash Cards for IAS Prelims 2020

Maritime museum; Generalised System of Preferences (GSP); Reciprocal Trade Agreement (RTA); Atal Mission for Rejuvenation and Urban Transformation (Amrut); Galathea national park; Forest Rights Act, 2006; OFS (follow-on public offer) Vs IPO (Initial Public Offer); Public Debt; National Food Security Act, (NFSA) 2013; POSHAN Abhiyaan; United Nations Framework Classification (UNFC);
By IASToppers
May 06, 2020

United Nations Framework Classification (UNFC) consists of how many dimensional systems?

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Answer:

  • The UNFC consists of a 3 dimensional systems.

Enrich Your Learning:

United Nations Framework Classification (UNFC):

  • United Nations Framework Classification for Resources(UNFC) is an international scheme for the classification, management and reporting of energy, mineral, and raw material
  • United Nations Economic Commission for Europe’s (UNECE) Expert Group on Resource Classification (EGRC) is responsible for the development promotion and further development of UNFC.
  • United Nations Framework Classification (UNFC)for energy and mineral resources is a universally applicable scheme for classifying/evaluating energy and mineral reserves/resources. It was adopted in 2004 by the United Nations Economic Commission of Europe (UNECE).

The UNFC consists of a three dimensional system with the following three axes:

  1. G Axis: Geological Assessment, which is more or less like the classification as per ISP adopted by GSI and other agencies in India. The process of geological assessment is generally conducted in stages of increasing details. The typical successive stages of geological investigation i.e. reconnaissance, prospecting, general exploration and detailed exploration, generate resource data with clearly defined degrees of geological assurance. These four stages are therefore used as geological assessment categories in the classification.
  2. F Axis:Feasibility assessment studies form an essential part of the process of assessing a mining project. The typical successive stages of feasibility assessment i.e. geological study as initial stage followed by prefeasibility study and feasibility study/mining report are well defined.
  3. E Axis:The degree of economic viability (economic or potentially economic or intrinsically economic) is assessed in the course of prefeasibility and feasibility studies. A prefeasibility study provides a preliminary assessment with a lower level of accuracy than that of a feasibility study, by which economic viability is assessed in detail.
  • The UNFC is, therefore, a three digit code based systemwherein the first digit represent economic viability axis, second digit represent feasibility axis & third digit represent geologic axis. Each of these axes has further codes in decreasing order.
  • The Economic viability has codes 1, 2 and 3 in decreasing order. Similarly the feasibility assessment has codes 1, 2 and 3.
  • The geological assessment has 4 codes i.e. 1- Detailed Exploration 2- Regional Exploration 3- Prospecting & 4- Reconnaissance. Thus the highest category of resources under UNFC system will have the code (111) and the lowest category will have the code (334).

What is the objective of POSHAN Abhiyaan and which ministry is implementing it?

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Answer:

  • POSHAN Abhiyaan is a programme to improve the nutritional outcomes among children and women.
  • Ministry of Women and Child Developmentis implementing it.

Enrich Your Learning:

POSHAN Abhiyaan

  • POSHAN Abhiyaan is the flagship programme of Ministry of Women and Child Development (MoWCD)to improve the nutritional intake and outcomes for children and female population by leveraging technology.
  • It includes Community based events and incentivizing states/UTs for achieving goals.
  • It contains awareness and community mobilization for nutritional intake and its benefits.
  • All districts of 36 states and UTs including Tamil Nadu has been covered in phased manner

Aim of POSHAN Abhiyan:

  • Reduce stunting in children (0-6 years)
  • Reduce under-nutrition (under-weight)in children (0-6 years)
  • Low birth weight at 2% per annum
  • Educe anaemia in young children (6 – 59 months) and in women + adolescent girls at 3% pa.
  • UNICEF will provide technical support to POSHAN Abhiyaan under country programme 2018-2022.

Under the National Food Security Act (NFSA) 2013, 90% of the rural population and 50% of the urban population have been categorized as eligible households for food security in India. True OR False.

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Answer: False.

  • 75% of the rural populationand 50% of the urban population have been categorised as eligible households for food security under the National Food Security Act (NFSA) 2013.

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National Food Security Act, (NFSA) 2013

Objective: 

  • To provide for food and nutritional security in human life cycle approach by ensuring access to adequate quantity of quality food at affordable prices to people.

Salient features:

  • Coverage and entitlement under Targeted Public Distribution System (TPDS): Upto 75% of the rural population and 50% of the urban population will be covered under TPDS, with uniform entitlement of 5 kg per person per month.
  • However, since Antyodaya Anna Yojana (AAY)households constitute poorest of the poor, and are presently entitled to 35 kg per household per month, entitlement of existing AAY households will be protected at 35 kg per household per month.
  • State-wise coverage: Corresponding to the all India coverage of 75% and 50% in the rural and urban areas, State-wise coverage will be determined by the Central Government.
  • Subsidized prices under TPDS and their revision: Food grains under TPDS will be made available at subsidized prices of Rs. 3/2/1 per kg for rice, wheat and coarse grains for a period of three years from the date of commencement of the Act. Thereafter prices will be suitably linked to Minimum Support Price (MSP).
  • In case, any State’s allocation under the Act is lower than their current allocation, it will be protected up to the level of average off take during last three years, at prices to be determined by the Central Government.
  • Identification of Households: Within the coverage under TPDS determined for each State, the work of identification of eligible households is to be done by States/UTs.
  • Nutritional Support to women and children: Pregnant women and lactating mothers and children in the age group of 6 months to 14 years will be entitled to meals as per prescribed nutritional norms under Integrated Child Development Services (ICDS) and Mid-Day Meal (MDM) schemes. Higher nutritional norms have been prescribed for malnourished children unto 6 years of age.
  • Maternity Benefit: Pregnant women and lactating mothers will also be entitled to receive maternity benefit of not less than Rs. 6,000.
  • Women Empowerment: Eldest woman of the household of age 18 years or above to be the head of the household for the purpose of issuing of ration cards.
  • Grievance Redressal Mechanism: Grievance redressal mechanism at the District and State levels. States will have the flexibility to use the existing machinery or set up separate mechanism.
  • Cost of intra-State transportation & handling of food grains and FPS Dealers’ margin: Central Government will provide assistance to States in meeting the expenditure
  • Incurred by them on transportation of food grains within the State, its handling and FPS dealers’ margin as per norms to be devised for this purpose.
  • Food Security Allowance: Provision for food security allowance to entitled beneficiaries in case of non-supply of entitled food grains or meals.

Public Debt includes small saving and provident funds. Right / Wrong?

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Answer: Wrong

Correct Answer:

  • Public Debt does not include small savings, provident funds and other accounts, reserve funds and deposits.

Enrich Your Learning:

Public Debt

  • In the Indian context, public debt includes the total liabilities of the Union governmentthat have to be paid from the Consolidated Fund of India.
  • Public debt is the total amount borrowed by the government of a country.
  • Public debt, sometimes also referred to as government debt,represents the total outstanding debt (bonds and other securities) of a country’s central government.
  • Public debt as a percentage of GDP is usually used as an indicator of the ability of a government to meet its future obligations.
  • It is an important source of resources for a government to finance public spending and fill holes in the budget.
  • Public debt can be split into internal(money borrowed within the country) and external (funds borrowed from non-Indian sources).
  • However, it does not include small savings, provident funds and other accounts, reserve funds and deposits.

What are the types of Public Debt?

  • The Union government broadly classifies its liabilities into two broad categories.
  • The debt contracted against the Consolidated Fundof India is defined as public debt and includes all other funds received outside Consolidated Fund of India under Article 266 (2) of the Constitution, where the government merely acts as a banker or custodian.
  • The second type of liabilities is called public account.

Sources of Public Debt:

  • These are listed as follows:
  • Dated government securities or G-secs
  • Treasury Bills or T-bills
  • External Assistance
  • Short term borrowings
  • Public Debt definition by Union Government
  • The Union government describes those of its liabilities as public debt, which is contracted against the Consolidated Fund of India. This is as per Article 292 of the Constitution.

Public Debt versus Private Debt:

  • Public Debt is the money owed by the Union government, whileprivate debt comprises of all the loans raised by private companies, corporate sector and individuals such as home loans, auto loans, and personal loans.

India’ Public Debt:

  • India recorded a government debt equivalent to 68 percentof the country’s Gross Domestic Product in 2017. This is a comfortable figure because it is well below 100% and leaves the country room to borrow more in the event of a financial crisis.
  • Government Debt to GDP in India averaged 73.24 percent from 1991 until 2017, reaching an all-time high of 84.20 percent in 2003 and a record low of 66 percent in 1996.
  • In India, most government debt is held in long-term interest bearing securities such as national savings certificates, rural development bonds, capital development bonds, etc.
  • The Government has been publishing an annual Status Paper on Government Debt since 2010-11, which provides a detailed analysis of the Government’s debt position.

India’s first maritime museum will be established at which place?

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Answer:

  • National Maritime Heritage Museum will be established at Lothal, a Harappan site on the Saurashtra coast in Gujarat.

Enrich Your Learning:

Maritime museum

  • National Maritime Heritage Museum will be established at Lothal, a Harappan site on the Saurashtra coast in Gujarat.
  • The museum will also be an independent research centre of underwater archaeologyfor reconstruction of maritime history, archaeology of boat building and materials traded.
  • It will have on display salvaged materialfrom shipwreck sites in the Indian Ocean waters.

Background:

  • Underwater archaeologyis a specialized branch of archaeology that involves recovering submerged remains such as ports, shipwrecks and studying proxy records of maritime activity from archaeological excavations as well as archival and historical records.
  • According to the UNESCO, there are an estimated three million undiscovered shipwrecks lying on the ocean floor.
  • Between 1824 and 1962, over 12,000 sailing ships and war vessels were lost at sea. Many of them got wrecked in Indian coastal waters.

What is the difference between initial public offering (IPO) and offer for sale (OFS)?

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Answer:

IPO

OFS

1. Unlisted company list them self to stock exchange

1. Company already listed with stock 

exchange can opt for OFS

2. Company offers share to the public for the first time

2. Shares of already listed company is offered to the public

3. Company sells new or existing securities

3. Promoters of listed companies dilute -stake and no new shares are created.

4. Company should fulfill SEBI Eligibility  criteria

4. Only Top 200 Companies with respect to market capitalisation are eligible to use OFS facility.

5. Process involved to raise funds is lengthy

5. Process is as small that an OFS can be completed in one trading session

6. No fee is required to pay by the investors 

6. Investors are required to pay charges – like brokerage, securities transaction tax and other charges required to buy shares in the cash market.

Enrich Your Learning:

OFS (follow-on public offer) Vs IPO (Initial Public Offer)

  • Initial Public Offering (IPO) is the first time when a company floats its sharesto public to raise funds by listing the company on stock exchange and also increases the potential audience to your stock.
  • It also gives a good benchmarkfor valuation of your stock. 
  • Prior to an IPO, a company is considered to be private– with a smaller number of shareholders.
  • However, when an already listed company tries to raise fresh funds from public then it is referred asFollow-on Public Offer (FPO).
  • In case of an Offer for Sale (OFS), the public issue is planned to give an exit to the existing shareholders.
  • So the current promoter’s can dilute their stake by selling them to Public by exchange only. There are 3 such instances here.
  • Firstly,we have the disinvestment process wherein the government hives off a part of its stake to public shareholders to raise funds to finance its plans.
  • Secondly,many companies place shares with marquee anchor investors like PE Funds and VCs and a public issue is used to give an exit route to them.
  • Thirdly, many promoters may themselves be looking to monetize a part of their stake and that may also result in an OFS.

Forest Rights Act, 2006 provides which two kinds of rights to tribal and other forest dwellers?

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Answer:

  • Individual rights over the dwelling and cultivation lands under their occupation.
  • The community tenure/ rights over ‘community forest resources’ on common forest land within the traditional and customary boundaries of the village.

Enrich Your Learning:

Forest Rights Act, 2006:

  • The Scheduled Tribesand Other Traditional Forest Dwellers (Recognition of Rights) Act (or the Forest Rights Act or FRA) was enacted in 2006 and came into force in 2008.
  • The Act aims at addressing the historic injustice done to the forest dwellers by recognising forest land, resources, and resource management and conservation rights of the forest dwelling communities.
  • FRA not only confers individuals’ title to habitat, but also aims to protect their tradition and cultureby recognising their collective ownership over a larger landscape within or outside their traditional village territories.
  • The Act provides chiefly for two kinds of rights to tribals and other forest dwellers.
  1. Individual rights over the dwelling and cultivation lands under their occupation.
  2. The community tenure/ rights over ‘community forest resources’ on common forest land within the traditional and customary boundaries of the village.
  • However, the implementation of the Act in general and especially in Protected Areas (PAs) has been negligible.

Give the location of the Galathea national park.

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Answer:

Galathea National Park is a National Park located in the Union Territory of Andaman and Nicobar Islands, India.

Enrich Your Learning:

Galathea national park:

  • It is located on the island of Great Nicobar in the Nicobar Islands, which lie in the eastern Indian Ocean.
  • Galathea forms part of what has been designated as the Great Nicobar Biosphere Reserve, which also includes the larger Campbell Bay National Park.
  • The vegetation consists largely of tropical and subtropical moist broadleaf forests.
  • Notable animal species found in the park include the giant robber crab, megapode and Nicobar pigeon.

Atal Mission for Rejuvenation and Urban Transformation (Amrut) is Centrally Sponsored Scheme. True OR False.

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Answer: True.

Enrich Your Learning:

Atal Mission for Rejuvenation and Urban Transformation (Amrut):

  • AMRUT, Centrally Sponsored Scheme, was launched in 2015 for the transformation of 500 cities and towns into efficient urban living spaces.
  • The total outlay for AMRUT is INR 50,000 crorefor five years from 2015-16 to 2019-20. Almost 50% of the total mission outlay has been allocated to water supply sector.

Objective:

  • To ensure that every household has access to a tap with assured supply of water and a sewerage connection
  • To increase the amenity value of cities by developing greenery
  • To reduce pollution by switching to public transport or constructing facilities for non-motorized transport e.g. walking and cycling

The Mission has 5 Thrust Areas:

  • Water Supply
  • Sewerage and septage management
  • Storm Water Drainage to reduce flooding
  • Non-motorized Urban Transport
  • Green space/parks

Selection Criteria for AMRUT:

  • All cities and towns with a population of over one lakh with notified Municipalities, including Cantonment Boards (Civilian areas)
  • All capital cities/towns of states/ UTs, not covered in the above mentioned category
  • All cities/ towns classified as heritage cities under the HRIDAY Scheme
  • 13cities and towns on the stem of the main rivers with a population above 75,000 and less than 1 lakh
  • 10 Cities from hill states, islands and tourist destinations (not more than one from each State).

Smart Cities Mission and AMRUT:

  • The two missions that were simultaneously launched – Smart Cities Mission and AMRUT are interlinked.
  • AMRUT adopts a project approach to ensure basic infrastructure services in 500 cities and towns.
  • Smart Cities Mission adopts an area based approach in 100 cities with focus on core infrastructure services like: Adequate and clean Water supply, Sanitation and Solid Waste Management etc.

What are the objectives of the Generalized System of Preferences (GSP)?

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Answer:

Objective:

  • To give development support to poor countries by promoting exportsfrom them into the developed countries.
  • It provides opportunities for many of the world’s poorest countries to use trade to grow their economies and climb out of poverty.

Enrich Your Learning:

Generalised System of Preferences (GSP):

  • The Generalized System of Preferences (GSP), instituted in 1976, is a the largest and oldest U.S. trade program designed to promote economic growth in the developing world by providing preferential duty-free entry of products.
  • The objective of GSP was to give development support to poor countries by promoting exports from them into the developed countries.
  • It seeks to aid developing countries by giving some of their products non-reciprocal, duty free access to U.S. markets.

How does GSP works?

  • The US government selects a group of poor countries and a set of products and offers these countries lower-than-normal tariffs than it applies to imports from all other World Trade Organisation (WTO) countries.
  • There are eight mandatory and seven discretionary criteria for GSP eligibility. Mandatory criteria include a beneficiary not being a communist country and committing to end the worst forms of child labour. Discretionary criteria include the level of economic development and assurances on market access.
  • The United States Trade Representative (USTR) makes annual reviews about the types of commodities to be selected under GSP and the countries to be benefited.
  • The products covered under GSP are mainly agricultural products including animal husbandry, meat and fisheries and handicraft products.
  • Imports from China and some developing countries are ineligible for GSP benefits.

What is the difference between GSP and the usual trade arrangement under WTO?

  • Under the normal trade laws, the WTO members must give equal preferences to trade partners without any discrimination between countries. This trade rule under the WTO is called the Most Favored Nation (MFN) clause.
  • The MFN instructs non-discrimination that any favourable treatment to a particular country. At the same time, the WTO allows members to give special and differential treatment to from developing countries (like zero tariff imports). This is an exemption for MFN. The MSP given by developed countries including the US is an exception to MFN.

What is Reciprocal Trade Agreement (RTA)?

  • Bilateral/regional trade agreements, used by a country with another country/countries, to increase market access and expand trade in foreign markets by granting special advantages to each other is called reciprocal trade agreements (RTAs).
  • RTAs include many types of agreements, such as preferential arrangements, free trade agreements, customs unions, and common markets, in which members agree to open their markets to each other’s exports by lowering trade barriers.

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Daily Current Flash Cards 2020 Prelims 2020
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