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Important Current Affairs for CLAT-30th May 2023

World Vape Day 2023 celebrates on 30th May

World Vape Day is an annual event that is celebrated on May 30th. The day is dedicated to raising awareness about the potential benefits of vaping as a harm reduction tool for smokers. Vaping is the act of inhaling an aerosol that is produced by heating a liquid that contains nicotine. The liquid can also contain flavorings and other additives. Vaping is often seen as a safer alternative to smoking cigarettes, as it does not produce the same harmful chemicals that are found in tobacco smoke.

There is still some debate about the long-term health effects of vaping. However, the available evidence suggests that vaping is significantly less harmful than smoking. In fact, a study published in the New England Journal of Medicine found that vaping was associated with a 95% reduction in the risk of death from smoking-related diseases.

World Vape Day is an important opportunity to raise awareness about the potential benefits of vaping for smokers. The day also provides an opportunity to celebrate the success of vaping as a harm reduction tool.

World Vape Day 2023-History

World Vape Day is an annual event that was first celebrated in 2012. The day is dedicated to raising awareness about the potential benefits of vaping as a harm reduction tool for smokers. The World Vapers’ Alliance (WVA) is the organization that started World Vape Day. The WVA is a non-profit organization that advocates for the rights of vapers and for the regulation of vaping products.

The WVA chose May 30th as the date for World Vape Day because it is the day before World No Tobacco Day. World No Tobacco Day is an annual event that is celebrated on May 31st. The day is dedicated to raising awareness about the dangers of tobacco use and to encouraging people to quit smoking. The WVA believes that World Vape Day is an important opportunity to raise awareness about the potential benefits of vaping as a harm reduction tool. The WVA also believes that World Vape Day is an opportunity to celebrate the success of vaping as a way to help smokers quit.

World Vape Day is celebrated around the world. There are events and activities held in many countries to mark the day. The WVA provides resources and support to help people celebrate World Vape Day. World Vape Day is an important event for the vaping community. The day is a chance to raise awareness about the potential benefits of vaping and to celebrate the success of vaping as a way to help smokers quit.

ISRO’s GSLV-F12 Successfully Places Navigation Satellite NVS-01

The Indian Space Research Organisation (ISRO) achieved yet another milestone as its geosynchronous satellite launch vehicle (GSLV) rocket, GSLV-F12, successfully placed the navigation satellite NVS-01 into orbit. This launch aims to enhance the continuity of Navigation with Indian Constellation (NavIC) services, providing accurate and real-time navigation in India and its surrounding region. Let’s delve deeper into this significant achievement.

Launch Details:

On Monday, 29 May, the 51.7-meter-tall GSLV-F12 rocket took off from the second launch pad at Sriharikota, located about 130 kilometers from Chennai. Amid clear skies, the rocket blasted off at the scheduled time of 10:42 am, embarking on its mission to deploy the NVS-01 satellite.

Continuity of NavIC Services

The successful launch of the second-generation navigation satellite, NVS-01, ensures the continuity of NavIC services. NavIC, previously known as the Indian Regional Navigation Satellite System (IRNSS), was developed by ISRO to meet the positioning, navigation, and timing requirements of the country. With a constellation of seven satellites and a network of ground stations operating 24×7, NavIC offers two services: the Standard Position Service (SPS) for civilian users and the Restricted Service for strategic users.

Enhanced Navigation Capabilities

NVS-01, weighing 2,232 kg, carries navigation payloads in the L1, L5, and S bands. The satellite also features an indigenously developed rubidium atomic clock, marking a significant achievement for ISRO. The inclusion of this atomic clock, previously imported by ISRO scientists, enhances the accuracy of NavIC services.

NavIC’s Operational Capabilities

NavIC’s signals are designed to provide user position accuracy better than 20 meters and timing accuracy better than 50 nanoseconds, ensuring precise and reliable navigation services. The NavIC SPS signals are interoperable with other global navigation satellite systems such as GPS, Glonass, Galileo, and BeiDou, expanding its compatibility and usability.

GSLV-F12’s Mission Life and Significance

Monday’s mission marked the sixth operational flight of the GSLV with an indigenous cryogenic stage. The NVS-01 satellite is expected to have a mission life of over 12 years, contributing to the long-term continuity and reliability of NavIC services. This successful launch signifies ISRO’s commitment to advancing India’s space capabilities and meeting the diverse needs of both civil aviation and military sectors.

India Secured Approval to Set Up Second Hydropower Project in Nepal

Nepal has decided to allow India’s Satluj Jal Vidyut Nigam (SJVN) Limited to develop a second hydropower project in the country. At present SJVN is developing a 900-MW Arun -III hydroelectric project, a run-of-river located on the Arun River in Eastern Nepal, scheduled to be completed in 2024. A meeting of the Investment Board Nepal (IBN) chaired by Prime Minister Pushpa Kamal Dahal aka Prachanda approved the draft project development agreement (PDA) to be signed with India’s state-owned SJVN to develop the 669-megawatt (MW) Lower Arun Hydropower project in eastern Nepal.

India Secured Approval to Set Up Second Hydropower Project in Nepal: Key Points

  • The decision for development comes days before Prime Minister Prachanda visited India.

  • The draft needs to be endorsed by the Council of Ministers before it gets implemented. The previous meeting of the IBN had approved a Rs 92.68 billion investment for the development of the project.

  • The development of this 669-MW transformative project will prove to be a milestone for the socio-economic development of the country, according to the statement by the IBN.

  • The SJVN has formed a local company, Lower Arun Power Development Company, in Nepal.

  • The Lower Arun project located in the Sankhuwasabha and Bhojpur districts will not have any reservoir or dam and will be a tailrace development of Arun-III, which will mean water re-enters the river for the Lower Arun project.

  • This is the third project undertaken, all through negotiation windows, on the Arun River after the 900 MW Arun-III and 695 MW Arun-IV hydroelectricity projects.

  • The three projects will generate nearly 2,300 MW of electricity from the river in the Sankhuwasabha district.

Department of Animal Husbandry and Fisheries, Chandigarh Awarded Skoch SILVER Award 2023

The Department of Animal Husbandry and Fisheries, Chandigarh got Skoch SILVER Award 2023 for e-Governance for computerisation of medical records of livestock being treated by the department. This is the first of its kind project in the country. Giving more details, Secretary Animal Husbandry and Fisheries Vinod P Kavle said that this web-based application software caters to five Government Veterinary Hospitals and nine Veterinary Sub-centres of the Animal Husbandry Department, Chandigarh.

The main objective of this application is to facilitate animal owners for online registration of their animals for treatment and other services like artificial insemination, vaccination etc. To maintain all records of Veterinary Hospitals and Sub-Centres like OPD, Stock book, daily medicine expenditure and artificial insemination.

About the Skoch SILVER Award 2023

  • The Skoch SILVER Award is a prestigious recognition presented by Skoch Group, one of India’s leading think tanks and consulting firms in the areas of governance, finance, and social sectors. The award aims to identify and acknowledge exceptional projects, initiatives, and organizations that have made significant contributions in various fields.

  • The Skoch SILVER Award recognizes excellence and innovation in public administration, governance, and service delivery across different sectors. It celebrates initiatives that have successfully implemented transformative ideas, technologies, and practices, resulting in positive impact and improved outcomes.

  • The award evaluation process involves rigorous scrutiny and assessment of nominated projects, which are evaluated based on criteria such as impact, scalability, sustainability, innovation, and replicability. The Skoch Group’s expert panel, comprising domain experts, policymakers, and distinguished personalities, plays a crucial role in the selection process.

Indian Bank Joins ICCL as Clearing and Settlement Bank

Indian Bank announced that it has been selected as a Clearing and Settlement Bank by the Indian Clearing Corporation Ltd (ICCL). As a result, this public sector bank is now authorized to provide banking services to members of the Bombay Stock Exchange (BSE) for clearing and settlement operations.

Indian Bank Joins ICCL as Clearing and Settlement Bank: Key Points

  • In a statement, the bank mentioned that clearing members can now establish settlement accounts with them for the purpose of fund settlement in the equity derivatives segment.

  • Furthermore, the bank is actively considering extending this facility to the members of the National Stock Exchange (NSE).

  • Additionally, the bank has introduced an e-TDR (electronic Term Deposit Receipt) product, in collaboration with ICCL, to enable online transmission of Fixed Deposit Receipts (FDR) and margin on behalf of the clearing members.

  • This service is available through the bank’s dedicated branch located in Fort, Mumbai.

  • Indian Bank has partnered with Indian Clearing Corporation Ltd. (ICCL) to serve as its Clearing and Settlement Bank.

  • At an event, Mahesh Kumar Bajaj, Executive Director of Indian Bank, exchanged the agreement with Devika Shah, Managing Director and CEO of ICCL to formalize the bank’s empanelment.

  • Indian Bank will now provide banking services to members of the Bombay Stock Exchange (BSE) for clearing and settlement operations.

  • Clearing members can open settlement accounts with Indian Bank to facilitate fund settlement in the equity derivatives segment.

There are plans to extend this service to members of the National Stock Exchange (NSE) as well. Additionally, Indian Bank has introduced the e-TDR product, enabling online transmission of Fixed Deposit Receipts (FDR) and margin with ICCL on behalf of clearing members, through its dedicated branch in Fort, Mumbai.

India’s GDP Growth Projected at 7.1% in FY23: SBI Ecowrap Report

The latest report by SBI Ecowrap indicates that India’s GDP (gross domestic product) is expected to grow at a rate of 7.1% in FY23, aligning with the second advance estimates released by the National Statistical Office (NSO) in February. This projection is in line with the Reserve Bank of India’s (RBI) recent statement suggesting that GDP growth for FY23 could surpass the 7% estimate. The report also provides insights into the anticipated growth for Q4 FY23 and FY24, as well as global economic trends and India’s domestic business performance.

Steady Growth Predicted for FY23

According to the SBI Ecowrap report, India’s GDP is projected to grow at a rate of 7.1% in FY23. This estimate aligns with the NSO’s second advance estimates released earlier this year, affirming the resilience of India’s economic recovery. The RBI has also indicated that the GDP growth for FY23 may exceed the 7% estimate.

Q4 FY23 GDP Growth Expectations

The SBI report projects India’s GDP to grow at a rate of 5.5% in the fourth quarter of FY23. In comparison, the RBI’s estimate places the Q4 FY23 real GDP growth at 5.1%. These projections highlight a continued positive trajectory for India’s economy, albeit with a slightly conservative outlook from the central bank.

Outlook for FY24

Looking ahead to FY24, SBI projects GDP growth between 6.2% and 6.3%. Meanwhile, the RBI’s forecast places the GDP growth for FY24 at 6.5%, with a particularly strong first quarter expected at 7.6%. These projections indicate sustained economic expansion and showcase the confidence in India’s recovery.

Global Economic Trends

The SBI Ecowrap report emphasizes that global economic activity has shown resilience, supported by a robust expansion in the service sector. However, the International Monetary Fund (IMF) revised its growth forecast for Asian economies, including India, to reflect a slowdown. India’s growth rate is estimated to decline from 6.8% in 2022 to 5.9% in 2023, before rebounding to 6.3% in 2024.

Inflation Outlook

The report suggests that global headline inflation is set to decrease from 8.7% in 2022 to 7.0% in 2023 due to lower commodity prices. However, underlying (core) inflation is expected to decline at a slower pace. This indicates that inflationary pressure is easing, potentially benefiting domestic consumption and investment.

India Inc.’s Resilience

The SBI Ecowrap report highlights the impressive performance of India Inc. in driving the economic turnaround while embracing operational and financial efficiency. In Q4 FY23, approximately 1,700 listed entities reported a 12% growth in top-line, a 19% increase in profit after tax (PAT), and a 23% growth in EBITDA (earnings before interest, taxes, depreciation, and amortization) compared to the same period in the previous year. Additionally, corporate results (excluding banking, financial services, and insurance sectors) for Q4 FY23 indicate a 10% growth in both top-line and bottom-line, with a 7% increase in EBITDA compared to Q4 FY22.

XPoSat, India’s first polarimetry mission

The Indian Space Research Organisation is collaborating with the Raman Research Institute (RRI), Bengaluru, an autonomous research institute, to build the X-Ray Polarimeter Satellite (XPoSat) that is scheduled to be launched later this year. Recently, ISRO chairman S Somanath urged Indian scientific institutions to identify talented students and take steps to motivate them in effectively using the data emerging from science-based space missions. He mentioned the XPoSat in this regard.

What is the XPoSat mission?

According to ISRO, “XPoSat will study various dynamics of bright astronomical X-ray sources in extreme conditions.” It has been billed as India’s first, and only the world’s second polarimetry mission that is meant to study various dynamics of bright astronomical X-ray sources in extreme conditions. The other such major mission is NASA’s Imaging X-ray Polarimetry Explorer (IXPE) that was launched in 2021.

How are X-Rays witnessed in space?

As NASA explains on its website, X-rays have much higher energy and much shorter wavelengths, between 0.03 and 3 nanometers, so small that some x-rays are no bigger than a single atom of many elements. The physical temperature of an object determines the wavelength of the radiation it emits. The hotter the object, the shorter the wavelength of peak emission.

The field of polarimetry studies the measurement of the angle of rotation of the plane of polarised light (that is, a beam of light in which the vibrations of the electromagnetic waves are confined to one plane) that results upon its passage through certain transparent materials, according to Britannica.

ISRO’s website says that the emission mechanism from various astronomical sources such as black holes, neutron stars, active galactic nuclei, pulsar wind nebulae etc. originates from complex physical processes and are challenging to understand.

What are XPoSat’s payloads?

The spacecraft will carry two scientific payloads in a low earth orbit. The primary payload POLIX (Polarimeter Instrument in X-rays) will measure the polarimetry parameters (degree and angle of polarisation).

The payload is being developed by RRI in collaboration with ISRO’s U R Rao Satellite Centre (URSC) in Bengaluru. POLIX is expected to observe about 40 bright astronomical sources of different categories during the planned lifetime of XPoSat mission of about 5 years. This is the first payload in the medium X-ray energy band dedicated for polarimetry measurements.

The XSPECT (X-ray Spectroscopy and Timing) payload will give spectroscopic information (on how light is absorbed and emitted by objects). It would observe several types of sources, such as X-ray pulsars, blackhole binaries, low-magnetic field neutron star, etc.


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