April 29th Current Affairs

1. Python-5.

IN NEWS:

DRDO conducts maiden trial of Python-5 Air to Air Missile.

Key takeaways

• Tejas, India’s indigenous Light Combat Aircraft, added the 5th generation Python-5 Air-to-Air Missile (AAM) in its air-to-air weapons capability
• Trials were also aimed to validate enhanced capability of Derby Beyond Visual Range (BVR) AAM on Tejas.
• The trials also validated its performance under extremely challenging scenarios.
• The trials met all their planned objectives.

SOURCE:PIB

2. ‘Limited sops make scrappage policy for vehicles unattractive’

IN NEWS:

Limited incentives and poor cost economics for trucks in the Vehicle Scrappage

Policy, coupled with lack of addressable volumes for other segments is unlikely

to drive freight transporters to replace their old vehicles with new ones, a report

said on Wednesday.

KEY HIGHLIGHTS:

• Though the scrappage volume of buses, PVs and two-wheelers are expected to be limited as well, the policy’s impact on new commercial vehicle (CV) sales could be sizeable, based on addressable volume, rating agency Crisil Research said in its report
• The policy proposes to de-register vehicles that fail fitness tests or are unable to renew registrations after 15-20 years of use.
• According to Crisil, many buses owned by state transport undertakings will have a life of more than 15 years. In comparison, buses operated for intercity, staff, school and tourist segments typically do not have a life beyond 15 years, and would thus be outside the ambit of the scrappage policy.
• As for passenger vehicles, renewal of registration fees is proposed to be increased from ₹600 to ₹5,000 (valid for five years) for PVs older than 15 years, which is a more than eightfold increase.
• The potential benefit from scrapping a 15-year-old, entry-level small car will be ₹70,000, whereas its resale value is around ₹95,000. That makes scrapping unattractive, Crisil said in the report.

SOURCE:TH

3. Agriculture Infrastructure Fund

IN NEWS:

Agriculture Infrastructure Fund has crossed the eight thousand crore mark. The investment will give a boost to several agricultural projects which will unlock value for farmers across the country.

Key Points

It is a central sector scheme

• Aim:
• To provide medium – long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets.
• The funds will be provided for setting up of cold stores and chains, warehousing, grading and packaging units, e-marketing points linked to e-trading platforms, besides PPP projects for crop aggregation sponsored by central/state/local bodies.
• Duration: Financial Year 2020 to 2029.
• Features:
• Eligible Beneficiaries:
• They are Farmers, FPOs, PACS, Marketing Cooperative Societies, SHGs, Joint Liability Groups (JLG), Multipurpose Cooperative Societies, Agri-entrepreneurs, Start-ups, and Central/State agency or Local Body sponsored Public-Private Partnership (PPP) Projects.
• Financial Support: Rs. 1 Lakh Crore will be provided by banks and financial institutions as loans to eligible beneficiaries.
• Moratorium for repayment may vary subject to minimum of 6 months and maximum of 2 years.
• Interest Subvention: Loans will have interest subvention of 3% per annum up to a limit of Rs. 2 crore. This subvention will be available for a maximum period of seven years.
• CGTMSE Scheme: A credit guarantee coverage will be available for eligible borrowers from the scheme under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for a loan up to Rs. 2 crore.

SOURCE:PIB

4. My Octopus Teacher

• The 85-minute documentary feature, My Octopus Teacher, won the best documentary award at the recent Academy Awards.
• It is about the relationship that developed between a human being and a wild octopus.
• It is a 2020 Netflix Original documentary film directed by Pippa Ehrlich and James Reed
• It documents a year spent by filmmaker Craig Foster forging a relationship with a wild common octopus in a South African kelp forest.

Kelp forests

• Kelp forests are under water areas with a high density of kelp, which covers a large part of the world’s coastlines.
• They are recognized as one of the most productive and dynamic ecosystems on Earth.
• Smaller areas of anchored kelp are called kelp beds.
• Kelp forests occur worldwide throughout temperate and polar coastal oceans.
• Kelps are large brown algae seaweeds that make up the order Laminariales.