Current Affairs 28-30 October 2022 – IAS Current Affairs

Current Affairs 28-30 October 2022 focuses on Prelims-Mains perspective. Major events are :

Impact of Heatwaves on Children: UNICEF

Source: DTE
GS II: World Geography and Indian Geography; GS III: Environment and Conservation

What is discussed under Impact of Heatwaves on Children: UNICEF?

1. About the Report
2. How to Save Children from Heat Wave?

Why in News?

According to a new UNICEF research, by 2050, nearly all of the world’s children will experience more frequent and severe heat waves.

About the Report

• According to the report, The Coldest Year of the Rest of Their Lives, at least four to five hazardous heat waves are currently exposed to over 559 million youngsters per year.

  

• Around 624 million children are already exposed to one of the other two high heat measures, such as severe high temperatures.
• Around 559 million children are already exposed to high heatwave frequency.
• Whether the world achieves a “low greenhouse gas emission scenario” with an estimated 1.7 degrees of warming in 2050 or a “very high greenhouse gas emission scenario” with an estimated 2.4 degrees of warming in 2050, it is predicted that nearly every child on the planet, that is, over 2 billion children will experience more frequent heatwaves.
• By 2050, over half of all children in Africa and Asia would experience prolonged exposure to extremely high temperatures.

Need of reducing global warming

• These results highlight the critical need to modify the services that children rely on as the inescapable effects of global warming manifest.
• In order to reduce the worst effects of the other high heat measures, it also presents the case for a more significant decrease in emissions.

Impacts on children

• Youngsters will struggle to control their body temperature due to these heat waves.
• As a result, people become more sensitive to conditions including asthma, chronic respiratory problems, and cardiovascular diseases.
• Depending on how hot the world becomes, millions more youngsters will be exposed to intense heat waves and extremely high temperatures.
• Children in northern countries will experience the most significant increases in high heatwave intensity.
• Extreme atmospheric temperatures might produce drought, which will make it difficult to have access to clean water and wholesome food.
• According to the report, prolonged heat waves would impede children’s growth and push families to relocate.

How to Save Children from Heat Wave?

• Protecting children from climate devastation by adapting social services.
• Preparing children to live in a climate-changed world.
• Prioritizing children and young people in climate finance and resources.
• Preventing a climate catastrophe by drastically reducing greenhouse gas emissions and keeping 1.5 degrees Celsius alive.

Pakistan Removed from FATF Grey List

Source: Indian Express
GS II: International Relation; GS III: National Security and Challenges

What is discussed under Pakistan Removed from FATF Grey List?

1. About Financial Action Task Force
2. Why was Pakistan Included on the Grey List?

Why in News?

Pakistan has been taken from the Financial Action Task Force’s (FATF) Grey List.

About Financial Action Task Force

• The international group called the Financial Action Task Force (FATF) develops and advocates for laws and guidelines to combat financial crime.
• The task force was established in 1989.
• It continues to operate out of Paris under the name Groupe d’action Financière.
• Almost all industrialised nations support the FATF or are members of it.

Objectives

• Money laundering, terrorist funding, and other risks to the international financial system are the focus of recommendations made by the FATF.

  

• In 2001, a list of recommendations for preventing the funding of terrorism was included.
• In the most recent revision, which was released in 2012, the suggestions were broadened to include financing the spread of Weapons systems as a new concern.
• In order to make transparency and corruption more evident, recommendations were also made.

Members

• The Financial Action Task Force had 39 members as of 2021, including the World Bank and the United Nations.
• A nation must meet certain criteria before it can join, including:
  • Being a member of other significant international organisations, having a large population, a high GDP, an established banking and insurance industry, etc.
• Many multinational organisations take part in the FATF as observers and each is involved in anti-money laundering efforts in some way.
  • The International Monetary Fund (IMF), the Organization for Economic Cooperation and Development (OECD), Interpol, and the World Bank are some of these organisations.

Two lists under FATF

• Grey List: The countries on the grey list actively collaborate with the organisation to guarantee that they prevent money laundering and fix the other issues in their regimes, making them the ones that need increased monitoring.
• Black List: This is a list of countries that the FATF considers to be uncooperative in the fight against money laundering and terrorism funding.

Why was Pakistan Included on the Grey List?

• Pakistan was included in the FATF’s “grey list” in 2018, which required more monitoring of the country.
• Pakistani newspaper Dawn claims that the nation was added to the list as a result of structural inadequacies in what FATF refers to as AML/CFT (anti-money laundering and combating the financing of terrorism).
• With the exception of 2018, Pakistan was included on the grey list from 2012 to 2015.

Commercial Cultivation of GM Mustard

Source: Hindu
GS II: Policies and Developmental Studies; GS III: Science and Technology

What is discussed under Commercial Cultivation of GM Mustard?

1. Genetically Modified Crops
2. Bt Cotton
3. Genetic Engineering Appraisal Committee (GEAC)
4. Way Forward

Why in News?

The Genetic Engineering Appraisal Committee (GEAC) of the Environment Ministry has approved the environmental release of genetically modified (GM) mustard, 20 years after the Union Government authorised the commercial production of Bt cotton, a GM crop.

Key Highlights

• A scientific dossier submitted by Deepak Pental, the former vice-chancellor of Delhi University, was accepted by an expert committee on GM mustard under GEAC, clearing the road for the certification.
• The final barrier was cleared when the Indian Council of Agricultural Research (CAR) permitted studies on pollinators like honey bees after their release into the environment.
• The first GM food crop in the country is now reportedly ready for commercial usage.

The FM’s call for industrial investment

Source: Hindu
GS III: Indian Economy

What is discussed under the FM’s call for industrial investment?

1. Current Scenario
2. Consumer Sentiment
3. Index for Industrial Production (IIP)
4. Consumer Confidence Index (CCI)

Why in News?

The finance minister has urged businesses to increase their investments in manufacturing as private investments have been hard to come by recently or are only present in a few industries.

Current Scenario

• The public sector is principally responsible for driving gross fixed capital creation.

  

• In contrast to the aim of 25%, the manufacturing sector’s contribution to the country’s GDP has also stayed constant for decades at around 16–17%.
• Consumption demand is now low (below the pre-pandemic level), but it is anticipated to increase.
• According to an online poll, there is strong interest in buying vehicles and two-wheelers, a diverging trend in real estate, and moderate interest in buying other consumer durables including computers/laptops, refrigerators, and air conditioners.
• The intention of households to save money is still high, with 56% of respondents saying they want to increase their savings by the end of the year.

Consumer Sentiment

• Private businesses only make investments when they can predict returns, which come from market demand.
• The consumer sentiment index from the Centre for Monitoring Indian Economy (CMIE) is still below pre-pandemic levels but significantly stronger than it was 12 to 18 months ago.
• Manufacturing companies saw a sequential increase in new orders, while infrastructure companies showed confidence in the state of their overall operations, turnover, and employment.
• The capacity utilisation rate has significantly improved since the pandemic when it had fallen to 67–68%.
• The manufacturing and production capabilities that are currently being used by a country or business are referred to as capacity utilisation.

Index for Industrial Production (IIP)

• The Index of Industrial Production (IIP) is a measure of the pace of economic growth experienced by various industry sectors over a predetermined time period.
• It serves as a composite measure of the economy’s overall level of industrial activity.
• The National Statistical Organization (NSO), Ministry of Statistics, and Programme Implementation produce and release IIP on a monthly basis.
• IIP uses 2011–12 as its base year to calculate the performance of the economy based on eight main industries.

Consumer Confidence Index (CCI)

• The Consumer Confidence Index (CCI) shows how optimistic or pessimistic people are about their anticipated financial status.
• Spending will increase if consumers are upbeat, but if they are pessimistic, a recession might result from their bad purchasing habits.
• CCI is essential for economic growth because consumers spend more when they are optimistic about the state of the economy and their personal financial circumstances.

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