September 1st and 2nd Current Affairs

1.INS Tabar Exercises with Moroccan Navy.

IN NEWS:

INS Tabar, as part of her overseas deployment, made a port call at Casablanca in Morocco on 25 and 26 Aug 21.

KEY POINTS:

• The ship participated in a Maritime Partnership Exercise with Royal Moroccan Navy ship ‘Lieutenant Colonel Arrahman’ off Casablanca port.
• Evolutions like communication drills, replenishment at sea procedures and naval manoeuvres were undertaken during the exercise.
• The exercise concluded with the traditional ‘Steam Past’ between the two ships to bid farewell to each other.

About INS Tabar:

• INS Tabar (translates as “battle axe”) is the third of the Talwar-class frigate of the Indian Navy. The frigate was commissioned on 19 April 2004 in Kaliningrad, Russia.
• INS Tabar is a well-equipped warship that has the ability to handle air/surface/sub-surface missions or defending herself operating either independently on maritime missions or supporting a larger naval task force.

SOURCE:PIB

2.PM to release a special commemorative coin on the occasion of 125th Birth Anniversary of Srila Bhaktivedanta Swami Prabhupada Ji on 1st September.

IN NEWS:

Prime Minister Shri Narendra Modi will release a special commemorative coin of ₹ 125 and will also address the gathering, on the occasion of the 125th Birth Anniversary of Srila Bhaktivedanta Swami Prabhupada Ji on 1st September 2021.

KEY POINTS:

About Srila Bhaktivedanta Swami Prabhupada Ji:

• Swami ji born Abhay Charan De, was an Indian spiritual teacher and the founder-acharya (preceptor) of the the International Society for Krishna Consciousness (ISKCON) commonly known as the “Hare Krishna movement that translated Shrimad Bhagvad Geeta and other Vedic literature in 89 languages, playing a stellar role in dissemination of Vedic literature across the world.
• Swamiji also established over a hundred temples and wrote several books, teaching the path of Bhakti Yoga to the world.
• He has been described as a charismatic leader who was successful in acquiring followers in many countries including the United States, Europe and India.
• His mission was to propagate throughout the world Gaudiya Vaishnavism, a school of Vaishnavite Hinduism that had been taught to him by his guru, Bhaktisiddhanta Sarasvati.

3.Sweat Equity Rules: SEBI.

IN NEWS:

Recently, the Securities and Exchange Board of India (SEBI) has brought into effect the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

The regulations have widened the scope of employees who can be offered stock (equity) options.

KEY POINTS:

• SEBI has merged the SEBI (Share Based Employee Benefits) Regulations, 2014 (SBEB Regulations) and the SEBI (Issue of Sweat Equity) Regulations, 2002 (Sweat Equity Regulations).
• SEBI is a statutory body established in accordance with the provisions of the SEBI Act, 1992. Its basic function is to protect the interests of investors in securities and to regulate the securities market.

What is Sweat Equity?

• Sweat equity is a non-monetary contribution that the individuals or founders of a company make towards the company.
• Cash-strapped startups and business owners typically use sweat equity to fund their companies.
• It will be issued for providing the know-how or making available rights in the form of intellectual property rights or value additions.
• The maximum yearly limit that can be issued by a listed company has been prescribed at 15% of the existing paid-up equity share capital
• It will be applicable for 10 years from the date of the company’s incorporation.

SOURCE:IE

4.Economy grows 20.1% in Q1.

IN NEWS:

• India’s Gross Domestic Product (GDP) grew by 20.1% in the first quarter of 2021-22.
• In the corresponding quarter a year ago, the 24.4% contraction was recorded.
• However, economic activity still remained well below the pre-pandemic levels, due to the second wave of COVID-19.

KEY POINTS:

• Gross Value Added (GVA) in the economy (April to June) rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.
• Electricity, gas, water supply and other utility services was the only sector along with agriculture, forestry and fishing, to recover beyond the pre-pandemic levels of 2019-20.

What is the difference between GDP and GVA?

• Gross value added (GVA) is defined as the value of output less (minus) the value of intermediate consumption.
• It is used to measure the output or contribution of a particular sector.
• When such GVAs from all sectors (∑ GVA) are added together along with adding taxes and reducing subsidies,  we can get the GDP (at market price).
• GVA thus shows the production contribution of a particular sector and GDP shows the production contribution of  the  economy.

SOURCE:TH

5.Ladakh adopts State animal and bird.

IN NEWS:

• Ladakh recently adopted two endangered species, snow leopard and black-necked crane, as the State animal and the State bird.
• Black-necked crane, only found in the Ladakh region, was the State bird of J&K before August 5, 2019.

KEY POINTS:

About Snow Leopard

• It is also known as Ghost of the mountains.
• They are positioned as the top predator in the food web.
• It acts as an indicator of the health of the mountain ecosystem in which they live.
• Habitat: Higher Himalayan and trans-Himalayan landscape in  J&K, Himachal Pradesh, Uttarakhand, Sikkim, and Arunachal Pradesh.
• Snow Leopard’s capital of the world: Hemis, Ladakh.
• Threats: Reduction in prey populations, illegal poaching and increased human population infiltration into the species habitat and illegal trade of wildlife parts and products

Conservation Efforts by India:

• Himal Sanrakshak: It is a community volunteer programme, to protect snow leopards, launched on 23rd October 2020
• In 2019, First National Protocol was also launched on Snow Leopard Population Assessment
• SECURE Himalaya: Global Environment Facility (GEF)-UNDP funded project on conservation of high altitude biodiversity
• Project Snow Leopard  launched in 2009
• Snow Leopard is in the list of 21 critically endangered species for the recovery programme of the Ministry of Environment Forest & Climate Change.

About Black-necked crane.

• It has A conspicuous red crown that adorns the head.
• The juveniles have a brownish head and neck and plumage is slightly paler than that of an adult.
• The bird is revered by the community of Monpas (major Buddhist ethnic group of Arunachal Pradesh) as an embodiment of the sixth Dalai Lama (Tsangyang Gyatso).
• Habitat and Breeding Grounds : The high altitude wetlands of the Tibetan plateau , Sichuan (China), and eastern Ladakh (India)
• In Bhutan and Arunachal Pradesh, it only comes during the winters.
• Threats: Damage to the eggs and chicks; Loss of habitat due to humans Development Projects; Increased grazing pressure on the limited pastures near the wetlands.

SOURCE:IE

6.President’s Colour to Be Awarded to Naval Aviation.

IN NEWS:

Shri Ram Nath Kovind, the Hon’ble President of India, will award the President’s Colour to Indian Naval Aviation at the ceremonial parade to be held at INS Hansa, Goa on 06 Sep 21.

KEY POINTS:

About Presidents colour:

• The President’s Colour is the highest honour bestowed on a military unit in recognition of its exceptional service to the nation.
• The Indian Navy was the first amongst the Indian Armed Forces to be awarded the President’s Colour on 27 May 1951 by Dr Rajendra Prasad, the then President of India.

About Indian Naval Aviation:

• Indian Naval Aviation came into being with acquisition of the first Sea land aircraft on 13 Jan 1951 and commissioning of INS Garuda, the first Naval Air Station, on 11 May 1953.
• Arrival of the armed Firefly aircraft in 1958 added an offensive punch, and the naval aviation steadily expanded its inventory to become an integral part of a formidable Navy.
• Today, Indian Naval Aviation boasts of nine air stations and three naval air enclaves along the Indian coastline and the in Andaman and Nicobar Islands.
• Over the past seven decades, it has transformed into a modern, technologically advanced and highly potent force with more than 250 aircraft comprising Carrier-borne fighters, maritime reconnaissance aircraft, helicopters and remotely piloted aircraft (RPA).
• The Fleet Air Arm can support naval operations in all three dimensions and will remain the first responder for maritime surveillance and HADR in the Indian Ocean Region.

SOURCE: PIB

7.Exercise Zapad 2021 In Russia.

IN NEWS: 

A 200 personnel contingent of Indian Army will participate in Exercise ZAPAD 2021, a Multi Nation exercise being held at Nizhniy, Russia from 03 to 16 September 2021.

KEY POINTS:

About Exercise ZAPAD 2021:

• ZAPAD 2021 is one of the theatre levels exercises of Russian Armed Forces and will focus primarily on operations against terrorists.
• Over a dozen countries from Eurasian and South Asian Region will participate in this signature event.
• The exercise aims to enhance military and strategic ties amongst the participating nations while they plan & execute this exercise.
• The Indian Contingent has been put through a strenuous training schedule which encompasses all facets of conventional operations including mechanised, airborne & heliborne, counter terrorism, combat conditioning and firing.
• The NAGA Battalion group participating in the exercise will feature an all Arms combined task force.

SOURCE: PIB