Current Affairs 24th Aug 2024 for UPSC Prelims Exam

Pacific Islands Forum

Context: The Pacific Island forum’s summit is going to be held in Tonga with a focus on climate change in the region.

About Pacific Islands Forum (PIF)

• PIF is a framework of regional cooperation founded in 1971 by the newly independent Pacific island countries.
• Secretariat: Suva, Fiji.
• Members (18): Australia, Cook Islands, Federated States of Micronesia, Fiji, French Polynesia, Kiribati, Nauru, New Caledonia, New Zealand, Niue, Palau, Papua New Guinea, Republic of Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.
• India is currently Dialogue partner of the forum.

BHISHM Cubes

Context: Prime Minister Narendra Modi gifted four BHISHM cubes to Ukraine during his recent bilateral visit.

About BHISHM Cubes

• BHISHM stands for Bharat Health Initiative for Sahyog Hita & Maitri, they are developed under the government’s Project Aarogya Maitri,
  • A programme to provide essential medical supplies to developing countries as humanitarian assistance.

• Specifications of BHISHM Cubes:
  • It is a self-contained medical facility equipped with everything required for immediate medical care including an operating theatre,
    • g. X-ray machines, blood testing equipment, ventilators, and supplies for treating a range of injuries.
  • These mobile units are capable of performing 10-15 surgeries per day.
    • It can perform both minor as well as life saving surgeries.
  • It can also generate its own power and oxygen in limited amounts.
  • The Cubes are also equipped with the state-of-the-art BHISHM software system, which is accessible via a tablet.
    • This system allows operators to quickly locate items, track their usage, and monitor expiration dates.

Rail Force One

Context: During his recent visit to Ukraine, PM Narendra Modi travelled aboard “Rail Force One, from Poland to Kyiv.

About Rail force One

• It is a luxurious train equipped with world class infrastructure for both work and relaxation.
• It was originally built in 2014 for tourists to visit Crimea.
• It is currently being used to safely transport world leaders and VIPs across the conflict-ridden country, as Ukraine’s airspace remains closed due to the ongoing war.

FDI and FPI Norms

Context: The Union Finance Ministry is developing a mechanism to enable certain foreign portfolio investors (FPIs) to smoothly transition into the FDI category.

Changes proposed by Finance Ministry

• Easy transition from FPI to FDI: The Finance Ministry is creating a mechanism to allow FPIs to transition into the FDI category, simplifying the process for those wishing to own more than 10% in a listed company, thus boosting foreign investment.
• Simplifying FDI Rules: The government is planning to simplify FDI and overseas investment regulations to increase capital inflows, with a focus on using the Indian rupee in international transactions.
• Rupee-Based Capital Raising: The Finance Ministry may allow foreign investors from specific countries to raise capital in Indian rupees for investments in their home countries.

Mekedatu Project

Context: Karnataka’s Cauvery Neeravari Nigam Limited (CNNL) has sought approval from the Union Ministry of Environment, Forest and Climate Change for approval of the terms of reference for conducting an Environment Impact Assessment to revive the clearance process for the Mekedatu project.

About Mekedatu Project

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