UPSC Prelims News 16 December 2022

UPSC Prelims News of 16 December 2022

Context: The ruling party in Rajasthan has committed to fulfill its promise of implementing Eastern Rajasthan Canal Project.

About ECRP:

ECRP is a planned project to harvest surplus yield available in the Southern Rajasthan rivers and transfer it to deficit basins in South-Eastern Rajasthan.
This project aims to meet the drinking / irrigation and industrial water needs of the thirteen districts of Southern & South Eastern Rajasthan.
Catchment area: The project will harvest water from catchment area of Kunnu, Kul, Parbati, Kalisindh, Mez, Chakan and Banas river in the state.

Proposed benefits of the project:
- The project will provide water for drinking purpose in thirteen districts of the state.
- The canal project will control flood/ drought situation in the area.
- It will help in expanding cropping area in the state.
- Groundwater table can be elevated by reducing underground water extraction
Challenges associated:
- Large area will be inundated as a result of construction of dams
- High cost of construction

Context: India and Nepal will participate in the 16th edition of the joint military training exercise ‘Surya Kiran’.

About the Surya Kiran 2022:

Location: The exercise will be conducted at Nepal Army Battle School, Saljhandi (Nepal).
Objective: The annual exercise is held with the goal of improving interoperability in jungle warfare and counter-terrorism operations in mountainous terrain, as well as Humanitarian Assistance and Disaster Relief (HADR under the UN mandate.

Focus areas: The exercise will focus on counter-terrorism, martial arts, humanitarian aid, natural disasters, environmental protection

Participants: Nepal Army soldiers of the Shree Bhawani Baksh Battalion and Indian Army soldiers from the 5 GR will take part in the exercise.
Significance: Participants will train together to develop experience on variety of operations.
- It will also enhance the level of defence cooperation which will further strengthen the bilateral relations between the two nations.

Context: Indian alternative investment funds (AIFs) have got an estimated 10-15% from investors in Cayman Islands and UAE.

About Alternative Investment Fund:

It is a special investment category that differs from conventional investment instruments. It is a privately pooled fund.
Generally, institutions and HNIs invest in AIFs as substantial investments are required.
These investment vehicles adhere to the SEBI (Alternative Investment Funds) Regulations, 2012.

Types of AIFs in India:

Category 1: These funds invest in SMEs, start-ups, and new economically viable businesses with high growth potential.

Venture Capital Funds (VCF): New-age entrepreneurial firms that require large financing during their initial days can approach VCF.
Angel Funds: These invest in budding start-ups and are called angel investors.
Infrastructure Funds: This fund invests in infrastructure companies, i.e., those involved in railway construction, port construction, etc.
Social Venture Fund: Funds investing in a socially responsible business are social venture funds.

Category 2:

Private equity fund: It invests in unlisted private companies.
Debt Funds: This fund primarily invests in debt securities of unlisted companies.
Funds of Fund: Such funds invest in other Alternative Investment Funds. They do not have their investment portfolio but focus on investing in different AIFs.

Category 3:

Private Investment in Public Equity Fund (PIPE): A PIPE invests in shares of publicly traded companies.
Hedge funds: Hedge funds pool money from accredited investors and institutions. These funds invest in both domestic and international debt and equity markets.

Advantage of Investing in AIFs

AIFs generally have a higher return potential than other investment options. The massive pooled amount gives the fund managers enough room to prepare flexible strategies for maximizing returns.
AIFs are not directly related to stock markets. Volatility in these funds is less, compared with traditional equity investments.
These funds allow much-needed diversification in an investment portfolio

Context: The Union government has granted the Geographical Indication (GI) tag to 9 products, raising the total to 432 in the country.

Gamosa of Assam

This is a traditional textile having great significance for the people of Assam.
In all rituals related to puja and ‘namprasang’, Gamosa is wrapped around the neck by both men and women.

Alibag White Onion

This is a traditional variety of white onion in Alibag tehsil of Raigad district in Maharashtra.
This particular onion does not have a strong odour like the standard onion commonly available in the market. It has a sweet taste, different from other onions.

Tandur Redgram

This is a traditional crop in the rain-fed tract of the Telangana region.
It contains about 22-24% protein, which is almost three times that of cereals.

Raktsey Karpo Apricot

Native to Ladakh and is known for its pure organic sweetness.
Ladakh Raktsey Karpo Apricot has a unique seed. The Raktsey Karpo fruit have white seed stones.

The Attappady Thuvara (Red gram)

It is an important traditional crop of the Attappady tribal area in Palakkad district, Kerala.
It is a woody shrub, generally grown as an annual crop.

Kanthalloor Vattavada Veluthulli (garlic)

It is a traditional garlic grown in prominent cultivation areas such as Kanthalloor and Vattavada panchayats in Kerala.
It is known for its unique flavour, pungency, taste, medicinal properties and longer shelf life.