24 Jan 2024: PIB Summary for UPSC

TABLE OF CONTENTS

1. LSAM 19 (Yard 129)
2. Exercise Desert Knight
3. Direct Listing Scheme
4. Swachh Survekshan 2023
5. National Girl Child Day 2024
6. Cabinet approvals of MoUs signed between India and various countries

1. LSAM 19 (Yard 129)

Syllabus: GS-3, Security & Defence

Prelims: LSAM 19

Context:

‘Ammunition Cum Torpedo Cum Missile Barge, LSAM 19 (Yard 129)’ launched.

About LSAM 19:

• LSAM 19 is the 5th Barge of 11 x ACTCM Barge Project, built by MSME Shipyard, M/s Suryadipta Projects Pvt Ltd, Thane for the Indian Navy.
• The availability of these barges would provide impetus to the operational commitments of the Navy by facilitating Transportation, Embarkation and Disembarkation of articles/ammunition to Indian Navy Ships both alongside jetties and at outer harbours.
• These barges are indigenously designed and built under relevant Naval Rules and Regulations of the Indian Register of Shipping.

2. Exercise Desert Knight

Syllabus: GS-3, Security & Defence; GS-2, International Relations

Prelims: Exercise Desert Knight

Mains: Relations between India and other countries

Context:

On 23 Jan 2024, the Indian Air Force (IAF) conducted Exercise Desert Knight along with the French Air and Space Force (FASF) and the United Arab Emirates (UAE) Air Force.

Exercise Desert Knight:

• The IAF contingent comprised of Su-30 MKI, MiG-29, Jaguar, AWACS, C-130-J and Air to Air Refueller aircraft. 
• The main focus of Exercise Desert Knight was on enhancing synergy and interoperability between the three Air Forces.
• The interactions during the exercise facilitated the exchange of operational knowledge, experiences and best practices among the participants. 

Also read: India – France relations

3. Direct Listing Scheme

Syllabus: GS-3, Economy

Prelims: Direct Listing Scheme, GIFT-CITY

Context:

Government allows direct listing of securities by public Indian companies on International Exchanges of GIFT IFSC.

Details:

• The Department of Economic Affairs (DEA), Ministry of Finance, has amended Foreign Exchange Management (Non-debt Instruments) Rules, 2019, and notified the ‘Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme’.
• This is following the Finance Minister’s announcement in July 2023 to enable the direct listing of Indian Companies at GIFT- IFSC exchanges in the first phase.
• This provides the regulatory framework to enable public Indian companies to issue and list their shares in permitted international exchanges. 
• As of now, the framework allows unlisted public Indian companies to list their shares on an international exchange. 
• SEBI is in the process of issuing the operational guidelines for listed public Indian companies. 
• The international stock exchanges at GIFT-IFSC under the regulatory supervision of IFSCA namely, India International Exchange and NSE International Exchange have been, currently, prescribed as permitted stock exchanges under the Rules and the Scheme.
• This policy is expected to reshape the Indian capital market landscape and offer Indian companies, especially start-ups and companies in the sunrise and technology sectors, an alternative avenue to access global capital beyond the domestic exchanges
• Benefits of the move:
  • Lead to better valuation of Indian companies
  • Boost foreign investment flows
  • Unlock growth opportunities
  • Broaden the investor base
  • Provide Indian companies with the flexibility to access both domestic and international markets

4. Swachh Survekshan 2023

Syllabus: GS-2, Governance, Govt Schemes

Prelims: Swachh Survekshan 2023

Context:

Swachh Survekshan 2023: Bhopal ranks high in swachhata.

Swachh Survekshan 2023: Bhopal’s Performance 

• Moving up from the 6th position in 2022, Bhopal is now the 5th cleanest city among those with a population of over 1 lakh.
• Bhopal has also been awarded a 5-star Garbage Free City (GFC) rating, making it the cleanest State capital in the country. 
• Additionally, Bhopal ranks 5th amongst the cleanest million-plus cities.
• Bhopal’s ascent in recent years can be attributed to its adoption of best practices, innovation, and distinctiveness.
• Bhopal’s Waste Handling Methods:
  • Bhopal produces 850 tons of waste daily, and the entire waste stream is processed every day. 
  • The city municipal corporation’s initiatives include scientific disposal of waste, waste-to-wealth projects, recycling C&D waste, CNG-powered waste collection vehicles, and emphasis on Reduce, Reuse & Recycle (3Rs).
  • The aesthetic appeal of the city has been enhanced by the removal of garbage-vulnerable points. 
  • Waste is now efficiently collected and processed through C&D, bio-CNG and charcoal plants.
  • 469 door-to-door garbage collection vehicles have been deployed.
  • 202 road-sweeping waste collection vehicles are dedicated to routine cleaning.
  • To ensure the effective processing and disposal of waste, a well-organized segregation system has been implemented at all 12 Transfer Stations in Bhopal. 
  • Bhopal Municipal Corporation has shifted from traditional waste treatment and utilizes hazardous waste as a valuable source of fuel. 
  • There are separate facilities for handling biomedical waste and construction and demolition (C&D) waste generated by the city.
  • There are 18 sewage treatment plants for liquid waste management and out of the treated water, about 31% is being reused in various applications such as central verge, fountain, fish farming and for agriculture and horticulture purposes.

5. National Girl Child Day 2024

Syllabus: GS-1, Social Issues

Prelims: National Girl Child Day 2024

Context: 

National Girl Child Day 2024 observed on 24 January.

National Girl Child Day 2024:

• The day is observed countrywide with the aim of engaging the nation in creating a positive environment that values the girl child.

Read more on National Girl Child Day in the linked article.

6. Cabinet approvals of MoUs signed between India and various countries

Syllabus: GS-2, IR

Mains: India’s relations with other countries

Details:

1. Cabinet approved the MoU signed in Dec 2023 between the Ministry of Electronics and Information Technology of India and the Ministry of Transport, Communications and Information Technology of the Sultanate of Oman on cooperation in the field of Information Technology.
   1. Intended to promote comprehensive cooperation in the field of IT (G2G and B2B).
   2. In force for a period of three years.
2. Cabinet approved the proposal for signing of a protocol for establishment of Joint Economic and Trade Committee (JETCO) between the Department of Commerce, Ministry of Commerce and Industry of India and the Ministry of Foreign Affairs of the Dominican Republic.
   1. Intended to strengthen economic ties between India and the Dominican Republic.
   2. The Protocol can be an effective gateway to the larger Latin American and Caribbean markets.

Read previous PIB articles here.