25 July 2020: PIB Summary & Analysis

July 25th, 2020 PIB:- Download PDF Here

TABLE OF CONTENTS

1. Joint Economic and Trade Committee (JETCO)
2. Income Tax Appellate Tribunal (ITAT)
3. India-European Union Agreement on Scientific and Technological Cooperation
4. Unnat Bharat Abhiyan
5. Earthquakes in Arunachal Pradesh

1. Joint Economic and Trade Committee (JETCO)

Context:

India and the UK held the 14^th Joint Economic and Trade Committee meeting virtually.

Details:

• India and the United Kingdom affirmed their shared commitment to a Free Trade Agreement in the meeting.
• Both sides also resolved to cooperate in the health sector especially in view of the present COVID-19 pandemic.
• The UK India Business Council (UKIBC) functions as the secretariat for the JETCO talks and also provides a forum for British companies to improve their links and forge new partnerships with Indian businesses.

2. Income Tax Appellate Tribunal (ITAT)

Context:

ITAT allows exemption of Rs 220 crore to Tata Education & Development Trust.

To know more about ITAT, check PIB dated 6 April, 2020.

3. India-European Union Agreement on Scientific and Technological Cooperation

Context:

India and the European Union have renewed its Agreement on Scientific and Technological Cooperation for the next five years (2020-2025).

Details:

• The Agreement was initially signed in 2001 and has been renewed twice before.
• This will expand, between India and the EU, cooperation in scientific and technological research, strengthen the conduct of cooperative activities in areas of common interest and application of the results of such cooperation to their economic and social benefit.
• This includes reciprocal participation of Indian and European entities in research, technological development, and demonstration projects.
• This Agreement was agreed upon at the 15^th India-EU Summit.
• The cooperation between India and the EU has so far been focused on water, green transport, e-mobility, clean energy, circular economy, bio-economy, health and ICT.
• Additional areas such as climate change, sustainable urban development, manufacturing, advanced materials, nanotechnologies and biotechnology, food processing, and ocean research may also be considered in future endeavours.
• This move is also expected to foster innovation by promoting networking between EU and Indian innovators, start-ups, incubators and accelerators.

Also read: European Union (EU).

4. Unnat Bharat Abhiyan

Context:

TRIFED Signs MoU with IIT, Delhi for Unnat Bharat Abhiyan (UBA).

For more on Unnat Bharat Abhiyan, check PIB dated March 16, 2020.

5. Earthquakes in Arunachal Pradesh

Context:

Seismicity study of Arunachal Himalaya reveals low to moderate earthquakes at 2 crustal depths.

Background:

• The exhumation and growth of the Himalayas is a continuous process that results predominantly from reverse faults in which the rocks on the lower surface of a fault plane move under relatively static rocks on the upper surface, a process called underthrusting of the Indian plate beneath its Eurasian counterpart.
• This process keeps modifying the drainage patterns and landforms and is the pivotal reason for causing an immense seismic hazard in the Himalayan mountain belt and adjoining regions.
• The Tuting-Tidding Suture Zone (TTSZ) is a major part of the Eastern Himalaya, where the Himalaya takes a sharp southward bend and connects with the Indo-Burma Range.
• This part of the Arunachal Himalaya has gained importance in recent times due to the growing need of constructing roads and hydropower projects, making the need for understanding the pattern of seismicity in this region critical.
• A study exploring the elastic properties of rocks and seismicity in this part of India revealed that the area is generating moderate earthquakes at two different depths.
  • Low magnitude earthquakes are concentrated at 1-15 km depth, and slightly higher, greater than 4.0 magnitude earthquakes are mostly generated from 25-35 km depth.
• The intermediate-depth is devoid of seismicity and coincides with the zone of fluid/partial melts.
• The crustal thickness in this area varies from 46.7 km beneath the Brahmaputra Valley to about 55 km in the higher elevations of Arunachal, with a marginal uplift of the contact that defines the boundary between the crust and the mantle (technically called the Moho discontinuity).

Read previous PIB here.

July 25th, 2020 PIB:- Download PDF Here