UPSC Prelims News 28 January 2023

Similipal National Park

Context: Similipal National Park in Odisha has turned out to be the hunting ground for animal poachers.

• Simlipal National Park is situated in the Mayurbhanj district of Odisha and derives its name from the silk cotton tree which is locally called Simul.
• It was formally designated a tiger reserve in 1956, brought under Project Tiger in 1973, and was declared a biosphere reserve in 1994.
• It has been part of the UNESCO World Network of Biosphere Reserves since 2009.
• The park includes three protected areas of Similipal Tiger Reserve, Hadagarh Wildlife sanctuary and Kuldiha wildlife sanctuary.
• The park has vegetation ranging from tropical semi-evergreen forests, tropical moist deciduous forests, dry deciduous hill forests, high-level sal forests and sprawling meadows.
• Two tribes, the Erenga Kharias and the Mankirdias inhabit the reserve’s forests and practice traditional agricultural activities. Other dominant tribes in the region include the Ho, Gonda and Munda, among others.

UPSC Prelims News 27 January 2023

Kelp Forest

Context: Kelps ecosystems are declining because of climate change, showed a new study.

About Kelp Forests

• Kelp are large brown algae that live in cool, relatively shallow waters close to the shore, which grow in dense groupings much like a forest on land.
• Kelp forests harbour a greater variety and higher diversity of plants and animals than almost any other ocean community.
• These dense canopies of algae generally occur in cold, nutrient-rich waters.
• Because of their dependency upon light for photosynthesis, kelp forests form in shallow open waters.
• Benefits from Kelp Forests:
  • They absorb an estimated 20 times more carbon dioxide per acre than forests on land, making them a powerful force in storing this persistent greenhouse gas and mitigating the effects of climate change.
  • Kelp forests provide food, nursery areas, shelter and protection from predators and storms to many marine species.
  • Near-shore kelp forests serve as a buffer against waves, a particularly valuable function during storms.
  • They are an important part of the marine food web, absorbing nutrients such as nitrogen from the water and making them available to a variety of species that feed on their leaves (blades).

T+1 Settlement

Context: After China, India will become the second country in the world to start the ‘trade-plus-one’ (T+1) settlement cycle in top-listed securities.

What’s the T+1 settlement plan?

• The T+1 settlement cycle means that trade-related settlements must be done within a day, or 24 hours, of the completion of a transaction.
• For example, under T+1, if a customer bought shares on Wednesday, they would be credited to the customer’s demat account on Thursday. This is different from T+2, where they will be settled on Friday.
• Benefits:
  • Liquidity in the market: T+1 settlement lead to faster settlements, which can improve the liquidity in the market.
  • Safer markets: According to a paper published by the SEBI, a T+1 settlement cycle not only reduces the timeframe but also reduces and frees up capital required to collateralize that risk.
  • Reduced settlement risk: The narrower the settlement cycle, the narrower the time window for a counterparty insolvency/ bankruptcy to impact the settlement of a trade.
• Why are foreign investors opposed?
  • As foreign investors operate from different geographies, they have raised issues such as time zone differences, information flow processes, and foreign exchange problems.
  • Foreign investors said they would also find it difficult to hedge their net India exposure in dollar terms at the end of the day under the T+1 system.

Recession

Context: There is a growing sense that a global recession may not happen and that some of the biggest economies, such as the US and the Eurozone countries, may achieve a soft landing.

• Recession is when the economy stops growing and starts shrinking. It means not only shrinking GDP but also declining incomes, employment, industrial production and retail sales.
• It occurs when the value of goods and services produced in a country known as the gross domestic product declines for two consecutive quarters, or half a year.
• Causes:
  • Rising unemployment.
  • Rises in bankruptcies, defaults, or foreclosures.
  • Falling interest rates.
  • Lower consumer spending and consumer confidence.
  • Falling asset prices, including the cost of homes and dips in the stock market.
• Recession can be prevented by targeted tax cuts or spending increases on safety net programs like unemployment insurance etc.

Monument Mitra Scheme

Why in News? The Monument Mitra scheme will soon be revamped to enable private firms, to partner for the upkeep of 1,000 ASI monuments.

About:

• Monument Mitra’ is the term coined for an entity partnering with the government under the ‘Adopt A Heritage’ project.
• It was launched under the Ministry of Tourism earlier and then transferred to the Ministry of Culture.
• The project aims to develop monuments, heritage, and tourist sites across India by inviting corporate entities, public sector companies or individuals to ‘adopt’ them.
• The government has set the target to hand over 500 sites under the revamped Monument Mitra Scheme by the end of Azadi ka Amrit Mahotsav on 15 August 2023

Veer Guardian 2023

Why in News? Recently, the inaugural edition of the bilateral air exercise ‘Veer Guardian 2023’ between the Indian Air Force (IAF) and Japan Air Self Defence Force (JASDF) concluded in Japan.

About:

• It is a maiden joint air exercise between India and Japan.
• IAF and JASDF engaged in air combat manoeuvring, interception and air defence missions, both in Visual and Beyond Visual Range settings.
• The exercise, ‘Veer Guardian 2023’, involved precise planning and skilful execution by both the air forces.
• The JASDF participated in the exercise with its F-2 and F-15 aircraft, while the IAF contingent participated with the Su-30 MKI aircraft.
  • The IAF fighter contingent was complemented by one IL-78 Flight Refuelling Aircraft and two C-17 Globemaster strategic airlift transport aircraft.

Kuno National Park

Why in News? Recently, One of the eight cheetahs that were flown into Kuno National Park from Namibia has been detected with a hepatorenal (associated with the kidneys and liver) infection.

About:

• Kuno National Park is a national park in Madhya Pradesh established in 1981 as a wildlife sanctuary. In 2018, it was given the status of a national park.
• It is part of the Khathiar-Gir dry deciduous forests.
• It has a healthy population of chital, sambar, nilgai, wild pig, chinkara and cattle.
• One of the main tributaries of the Chambal River, the Kuno River, cuts across the whole length of the National Park division.
• The Kuno has the potential to carry populations of all four of India’s big cats.

The National Logistic Portal (marine) (NLP)

Why in News? Recently, Union Minister for Ports, Shipping and Waterways inaugurated The National Logistics Portal (marine) in New Delhi.

About:

• It is a project of national importance, as envisaged by the Ministry of Ports Shipping Waterways and the Ministry of Commerce & Industry.
• NLP Is a one-stop marketplace where all logistic stakeholders are integrated for easier, speedier & competitive services thereby promoting trade and growth.
• It is an “open platform” that allows the coexistence of multiple service providers to provide EXIM-related services independently or by combining different connectivity options.
• NLP will be a single window for all trade processes of the logistics sector spread across the country covering all modes of transport in the waterways, roadways, and airways along with an E-marketplace to provide a seamless end-to-end logistic service coverage.

Open Market Sale Scheme (OMSS)

Why in News? The Food Corporation of India (FCI) will offload 30 LMT wheat from the Central pool stock to the market through various routes under the Open Market Sale Scheme (Domestic).

About:

• The move will help contain the rising prices of wheat and will bring relief to the common man.
• Under OMSS, FCI sells surplus stocks of wheat and rice at pre-determined prices through e-auction in the open market from time to time.
• It aims to enhance the supply of food grains, especially wheat during the lean season and thereby moderate the open market prices.

INTERPOL

Why in News? Recently,INTERPOL Secretary General virtually addressed the 3rd INTERPOL Young Global Police Leaders Programme (YGPLP) being held in New Delhi.

About:

• It was set up in 1923, as a secure information-sharing platform that facilitates criminal investigation of police forces across the globe through the collection and dissemination of information received from various police forces.
• It keeps track of the movements of criminals and those under the police radar in various regions.
• It aims to promote the widest-possible mutual assistance between criminal police forces.

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