30-31-01-22 Daily-Gujarat-GPSC Current Affairs

ArcelorMittalNippon Steel India Limited (AM/NS India) on Thursday signed an MoU with the states industries department, proposing of Rs 1.66 lakh crore in six projects inGujarat.

This includes Rs 40,000 crore in RENEWABLE ENERGY, Rs 30,000 crore for development of a steel city and an industrial cluster in Surat.

The agreement, part of Vibrant Gujarat Summit 2022, was signed in the presence of chief minister Bhupendra Patel between AM/NS India CEO Dilip Oommen and additional chief secretary to the department of industries Rajiv Gupta. AM/NS Indias six proposed investment projects include Rs 4,200 crore for expansion and modernization of the existing captive jetty at Hazira and Rs 45,000 crore to increase the capacity of the 8.6 MMTPA steel plant to 18 MMTPA, according to a statement from the State Government.

A total of 10GW of renewable power generation Plants at various locations in the state will be set up by ArcelorMittal Nippon Steel with an investment of approximately Rs 40,000 crore, according to the release. This will include hybrid, solar and Wind Energy. An MoU has also been signed for a 2,200MW plant at Kanatalav in Bhavnagar district in the first phase.

AM/NS India is also planning to invest Rs 17,000 crore in another downstream coke project in Hazira, Surat. Approximately 1.80 lakh direct and indirect EMPLOYMENT opportunities will be generated through this. The government of Gujarat will co-operate with ArcelorMittal in accordance with existing policies.

Kerala has established the country’s first graphene innovation center. This is the first graphene research and development center to be founded.

Highlights:

The project would be funded with Rs 86.41 crores by the central government. The Kerala government will develop the center as Tata Steel is The industrial partner.

In addition, the state-run Digital University Kerala and the Centre for Materials for Electronics will collaborate on the initiative with the state and federal governments.

Graphene is the world’s most vital substance and the thinnest of materials. Graphene is a material with excellent electrical conductivity and chemical resilience.

It has a vast surface area, is translucent, and is Light in weight. Graphene can replace indium and lower the price of an Organic Light Emitting Diode.

The 61 Pradhan Mantri Rashtriya Bal Puraskar (PMRBP) 2021 and 2022 were awarded digital certificates based on blockchain technology.

Highlights:

Indian Institute of Technology Kanpur developed blockchain-based technology as part of the “National Blockchain Project” (IIT Kanpur).

Director of IIT Kanpur Abhay Karandikar said that this technology might be utilized to give all certificates and degrees in the future.

The beneficiaries’ digital certificates generated using blockchain technology will be saved in digital wallets on their mobile devices.

Certificates are unforgeable, globally verifiable, selectively disclosable, and sensitive to user content.

The National Security Council Secretariat funds the National Blockchain Project to create blockchain-based e-Governance solutions.

The project entails a three-month feasibility assessment to determine whether or not to deploy blockchain technology and research and validation plan and an incubation strategy.

The term “developing country” was recently coined by the . Several countries would be unable to tolerate this.

Highlights:

There are no formal definitions for “developed” or “developing” countries in the organization. However, other countries can contest the offer when a tag is provided.

Even though the WTO has not specified a definition, two-thirds of its members claim developing countries.

Because countries can classify themselves as developing, China has taken advantage of the opportunity. China is attempting to expand its global trade supremacy in this way.

A developing country has various advantages under the WTO. The S&DT provisions in WTO agreements give developing countries special privileges.

S&DT stands for Special and Differential Treatment. These clauses allow members to treat them with favor.

The Red Sanders (or Red Sandalwood) was recently reclassified by the International Union for Conservation of Nature () as ‘endangered’ on its Red List.

Highlights:

Pterocarpus santalinus is the scientific name for the Red Sanders species.

It is an endemic tree species to India, with a geographical range limited to the Eastern Ghats.

The species is only found in a small area of woodland in Andhra Pradesh.

In 2018, it was designated as a ‘near threatened’ species.

When a species was removed from the endangered list for the first time since 1997, it was a cause for celebration.

For the past three generations, the Red Sanders species has seen its Population drop by 50-80%.

As a result, it was once again placed in the Endangered category. Red Sanders are prized for their deep color and medicinal benefits.

On January 25, 2022, the (IMF) published its World Economic Outlook.

Highlights:

According to the analysis, global economic Growth will be half a Percentage point lower than previously projected.

The rate of growth will slow from 5.9% in 2021 to 4.4 percent in 2022. In 2023, it will drop even lower to 3.8 percent.

According to the IMF, the reduction in global growth predictions is mostly due to the IMF’s assessment of economic prospects in China and the United States.

In the United States, the removal of Joe Biden’s Build Back Better strategy from the baseline, early withdrawal of monetary support, and supply constraints resulted in a 1.2 percentage point downward revision for growth in 2022.

Disruptions connected to China’s zero-Tolerance Covid policy and persistent financial hardship among property developers resulted in a 0.8 percentage point negative revision.