Current Affairs 6 October 2020 – IAS Current Affairs

Current Affairs 6 October 2020 2020 focuses on Prelims-Mains perspective. Major events are :

1. K V Kamath Committee Report
2. India Myanmar Meet
3. World Habitat Day 2020
4. Amazon Changing From Forest To Savanna
5. Prelims Facts 6 October 2020
   • Responsible AI for Social Empowerment 2020
   • Successful Flight Test of SMART
   • Nobel Prize for Medicine or Physiology

K V Kamath Committee Report

Why in News ?

The Supreme Court to the Union government and the Reserve Bank of India (RBI) about the steps taken to implement the K.V. Kamath Committee report on recommendations to bail out sectors affected by the COVID-19 stress.

About K.V Kamath Committee Report

• Constituted to make recommendations on norms for the resolution of COVID-19 related stressed loans.
• The panel tabled its report on September 4 wherein it has suggested financial parameters that include aspects related to leverage, liquidity and debt serviceability.
• KV Kamath Committee has listed FMCG, consumer durables and corporate retail outlets among 26 sectors that require financial restructuring in the aftermath of the COVID crisis.
  • Within the FMCG space, the supply chain was affected due to the lockdown, impacting sales while consumer durables and retail outlets of clothing and apparel were shut as it was considered as non-essential.
• It has recommended five financial parameters or ratios with sector-specific thresholds that lending institutions can factor in as part of a graded approach to restructuring or finalising a resolution plan for a borrower.
  • The total outstanding liability to adjusted networth
  • Total debt to EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization)
  • Debt service coverage ratio (DSCR
  • Average DSCR
  • Current ratio.
• The sector-specific parameters may be considered as guidance for the preparation of a resolution plan for a borrower in the specified sector.
• The resolution plan may be prepared based on the pre-COVID-19 operating and financial performance of the borrower and impact of Covid-19 on its operating and financial performance in Q1 and Q2FY21, to assess the cash-flows for FY21/FY22 and subsequent years.

Source : The Hindu

Topic

GS III : Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment

India Myanmar Meet

Why in News ?

India Myanmar Meet during Two-day visit by Foreign Secretary Harsh Vardhan Shringla and Army chief Gen M M Naravane to Myanmar met Myanmar’s State Counsellor Aung San Suu Kyi and the Commander in Chief of Defence Services, Senior General Min Aung Hlaing.

About the Visit

• Key points are
  • A package of 3,000 vials of the antiviral Remdesivir
    • India’s commitment to assist Myanmar in its fight against the (Covid-19) pandemic.
  • Support for ensuring safe, sustainable and speedy return of Rohingya refugees
    • Proposed finalising projects under phase-III of the programme, including setting up of a skills training centre.
  • Operationalisation of the crucial Sittwe port in Myanmar’s Rakhine state by March 2021
  • A liaison office in Nay Pyi Taw
    • The idea to establish a liaison office in Myanmar’s capital was conceived during the State Visit of President Ram Nath Kovind in December, 2018.
  • A bust of Bal Gangadhar Tilak in Mandalay Jail,
  • A mutual commitment to not allow activities against each other.
    • Maintenance of security and stability in their border areas and reiterated their mutual commitment not to allow their respective territories to be used for activities inimical to each other.
    • Myanmar for handed over of 22 cadres of Indian insurgent groups in May this year.
• Discussed progress in the ongoing Indian-assisted infrastructure projects such as the Trilateral Highway and the Kaladan Multi-Modal Transit Transport Project.
• The project agreement on upgrading of agricultural mechanisation under RSDP was signed.

India and Myanmar

• India-Myanmar border is 1,643 km
  • Indian states of Mizoram, Manipur, Nagaland and Arunachal Pradesh in Northeast India from Kachin State, Sagaing Region and Chin State in Myanmar/Burma.
  • India and Myanmar also share a maritime border along India’s Andaman Islands.
• India established diplomatic relations after Myanmar’s independence from Great Britain in 1948.
  • Both are a part of colonial rule.
  • 1951 both signed the Treaty of Friendship.
• In 1960’s the nationalisation policy in Myanmar leads to the frictions between states.
  • During this period India-Mtanmar signed Land Boundary Agreement (1967) and Maritime Boundary Agreement in (1968)
• In late 1980’s the relation worst as a result of the suppression of pro democracy in Myanmar.
• With the Lokk East policy in 1991 the ties becomes normalise and seen a strong base with several visit between the officials.
• Cooperation between the states
  • Infrastructure
    • Upgradation and resurfacing of the 160 km. long Tamu-Kalewa-Kalemyo road, Construction and upgradation of the Rhi-Tiddim Road in Myanmar; the Kaladan Multimodal Transport Project; etc.
    • India and Myanmar have agreed to a 4-lane, 3200 km triangular highway connecting India, Myanmar and Thailand called India-Myanmar-Thailand Friendship Highway.
  • Economic Relations
    • India’s imports from Myanmar are dominated by agricultural items (beans, pulses and forest based products form 90% of our imports).
    • India’s main exports to Myanmar are primary and semi-finished steel and pharmaceuticals.
    • Myanmar is also a beneficiary country under India’s Duty Free Tariff Preference Scheme for LDCs.
  • Cultural Relations and Indian Diaspora
    • Performances by Indian cultural troupes in Myanmar have been organised on a regular basis since 1997.
    • Indian community in Myanmar is traced back to the mid-19th century with the advent of the British rule in Lower Burma in 1852.
    • The NRI families in Myanmar mainly live in Yangon and are engaged in export import business or are employees of MNCs based in India, Singapore and Thailand.
  • Various Co operations in Organisation
    • SAARC : Myanmar was given the status of observer in SAARC in August 2008.
    • BIMSTEC : Myanmar became a member of BIMSTEC in December 1997. Myanmar is a signatory to the BIMSTEC Free Trade Agreement. Myanmar is the lead country for the energy sector. Myanmar trades mostly with Thailand and India in the BIMSTEC region.
    • ASEAN : Myanmar became a member of ASEAN in July 1997. As the only ASEAN
      country which shares a land border with India, Myanmar is a bridge between India and
      ASEAN.
    • Mekong Ganga Cooperation : Myanmar is a member of the Mekong Ganga Cooperation (MGC) since its inception in November 2000. MGC is an initiative by six countries – India and five ASEAN countries namely, Cambodia, Laos, Myanmar, Thailand and Vietnam – for cooperation in the fields of tourism, education, culture, transport and communication.

Also Read | India Myanmar Neighbourhood Relations

Source : Indian Express

Topic

GS II : India and its neighbourhood- relations

World Habitat Day 2020

Why in News ?

United Nations designated the first Monday of October of every year as World Habitat Day 2020 to reflect on the state of our towns and cities, and on the basic right of all to adequate shelter.

About World Habitat Day

• The Day was established in 1985 by the United Nations General Assembly and was first observed in 1986.
• The first Monday of October is marked as World Habitat Day.
• Theme of 2020 : Housing For All – A Better Urban Future” is the theme for World Habitat Day 2020.
• World Habitat Day this year looks at the impact of the pandemic on housing in urban areas .
  • Affordable, safe and adequate housing for the urban poor has been the Indian government’s focus.

Issues Related to Housing

• Currently there are one billion people live in overcrowded settlements with inadequate housing or without houses.
  • Urban areas especially cities are now home to slightly more than half of the world’s seven billion people.
  • The poor in the region are affected by development and infrastructure needs of the rich in the cities. 
• Based on various reports, by 2030 the number will rise to 1.6 billion.
• To meet the global demand, more than 96,000 housing units will need to be completed every day.
• Some 3 billion people lack basic hand-washing facilities and sanitation issues. 
• According to ILO (International Labour Organisation), 55 per cent of the world’s population about 4 billion people do not benefit from any form of social protection.

India against the fight of Inadequate Housing

• As part of government steps to tackle Covid-19 crisis, had extended an interest subsidy scheme of 2017 till March 2021.
  • This would help the middle class families in search of affordable housing and can be consider as a temporary relief. 
  • The extension would provide a boost of Rs. 70,000 crore to the housing and construction sectors amid the pandemic-related economic crisis.
• We have a number of initiative or missions such as Swachh Bharat Mission-Urban, Pradhan Mantri Awas Yojana-Urban, the Smart Cities Mission, the AMRUT Mission in order to provide an adequate Housing.

Source : PIB

Topic

GS II : Government policies and interventions for development in various sectors and issues arising out of their design and implementation

Amazon Changing From Forest To Savanna

Why in News ?

As much as 40% of the Amazon risks crossing a tipping point from rainforest to savanna as greenhouse gas emissions reduce the rainfall needed to sustain its unique ecosystem.

What is Savanna ?

• Savannas are characterized by the coexistence of trees and grasses and occur largely in the seasonal tropics between the equatorial rainforests and mid-latitude desert ecosystems.
  • Savannas grow in tropical regions 8° to 20° from the Equator.
• Savannas represent one of the largest extensions of land in the world.
• Tropical savannas occur in the seasonal tropics of Africa, South America, Asia and Australia.
• Mean annual precipitation is generally 80 to 150 cm and mean monthly temperatures are about 10 to 20 °C.
  • Savannas may be subdivided into three categories wet, dry, and thornbush depending on the length of the dry season.

Forest To Savanna Shift

• Rainfall in the Amazon is so low already that up to 40% of it risks tipping over into a savanna-like environment, with far fewer trees and far less biodiversity.
• Rainforests normally create their own rainfall through water vapour, sustaining tree levels and even extending their reach.
  • When precipitation levels fall, the forests begin to disappear.
  • As forests shrink, we get less rainfall downwind and this causes drying, leading to more fire and forest loss: a vicious cycle.
• Many of the world’s rain forests would struggle to grow back once lost, leading to a far wider savanna-like mix of woodland and grassland.
• Amazon loss, the team found that the forest in the Congo basin was at risk of changing to savanna, and that large swathes would not grow back once gone.
• Importance of Rain forest
  • Rainforests on all continents are very sensitive to global change and can rapidly lose their ability to adapt.
  • Once gone, their recovery will take many decades to return to their original state and given that rainforests host the majority of all global species, all this will be forever lost.
  • This can have significant knock-on effects on nature with the loss of tropical habitats as well as the climate as shrinking forests lose their ability to absorb manmade emissions.
  • It also increases the risk of fire.

How to protect Rain Forest ?

• Deforestation of tropical rainforests has a global impact through species extinction, the loss of important ecosystem services and renewable resources, and the reduction of carbon sinks.
• A significant portion of deforestation is caused by poor farmers, Developmental projects and related human activities.
• Major to do are 
  • Reduce the carbon foot print.
  • Increasing the protected areas and proper implementation of afforestation.
  • Recognising the Rights of Indigenous Peoples
  • Reducing the Use of Tropical Timber

Source : The Hindu

Topic

GS III : Conservation, environmental pollution and degradation, environmental impact assessment

Prelims Facts 6 October 2020

Responsible AI for Social Empowerment 2020

Why in News ?

PM’s address at the inauguration of ‘Responsible AI for Social Empowerment 2020’ Summit

• Ministry of Electronics and Information Technology, Government of India, is organizing RAISE 2020 (Responsible AI for Social Empowerment) a virtual global summit on Artificial Intelligence (AI) in collaboration with NITI Aayog.

About Responsible AI for Social Empowerment 2020

• The summit would be a global meeting of minds to exchange ideas and charter a course to use AI for social empowerment, inclusion, and transformation in key areas like Healthcare, Agriculture, Education and Smart Mobility amongst other sectors.
• The RAISE 2020 Summit will feature some of the most exciting start-ups working in Artificial Intelligence and related fields.
• RAISE 2020, created a global forum for the world’s leading stakeholders.
• Exchange ideas and chart a common course for the adoption of Artificial Intelligence.
• A roadmap that can truly help transform lives and livelihoods across the world.

Source : PIB

Successful Flight Test of SMART

Why in News ?

Supersonic Missile Assisted Release of Torpedo (SMART) has been successfully flight tested at 1145 hrs from Wheeler Island off the coast of Odisha.

Supersonic Missile Assisted Release of Torpedo (SMART)

• The mission objectives including missile flight upto the range and altitude, separation of the nose cone, release of Torpedo and deployment of Velocity Reduction Mechanism (VRM) have been met perfectly.
• SMART is a missile assisted release of lightweight Anti-Submarine Torpedo System for Anti-Submarine Warfare (ASW) operations far beyond Torpedo range.
  • This launch and demonstration is significant in establishing Anti-Submarine warfare capabilities.
• Development Of Technology
  • A number of DRDO laboratories including DRDL, RCI Hyderabad, ADRDE Agra, NSTL Visakhapatnam have developed the technologies required for SMART.

Source : PIB

Nobel Prize for Medicine or Physiology

Why in News ?

Americans Harvey J Alter and Charles M Rice, and British scientist Michael Houghton were awarded the Nobel Prize for Medicine or Physiology for the discovery of the hepatitis C virus.

Discovery of the hepatitis C virus

• The trio’s work helped explain a major source of blood-borne hepatitis that couldn’t be explained by the hepatitis A and B viruses.
  • These have essentially eliminated post-transfusion hepatitis in many parts of the world, greatly improving global health.
• Their work make possible blood tests and new medicines that have saved millions of lives.
• Discovery also allowed the rapid development of antiviral drugs directed at hepatitis C.

Hepatitis Disease

• World Health Organisation estimates there are over 70 million cases of hepatitis worldwide and 400,000 deaths each year.
• The disease is chronic and a major cause of liver inflammation and cancer.

About Nobel

• Nobel award comes with a gold medal and prize money of over USD 1,118,000 courtesy of a bequest left 124 years ago by the prize’s creator, Swedish inventor Alfred Nobel.
• The Nobel Committee often recognizes basic science that has laid the foundations for practical applications in common use today.
• The other prizes are for outstanding work in the fields of physics, chemistry, literature, peace and economics.

Source : The Hindu

Current Affairs 6 October 2020 : Our major Sources for the Current Affairs are The Hindu, Indian Express, PIB, Down To Earth etc. For more queries and mentor-ship please contact us.