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Essential Facts (Prelims): 1 March , 2019

Aadhaar

Category: Polity & Governance

  • Government approved the promulgation of an Ordinance to allow voluntary submission of Aadhaar as identity proof for use by private entities such as banks, telcos and fintech firms.
  • The Ordinance also gives a child an option to exit from Aadhaar on attaining 18 years of age.
  • It also provides for civil penalties for violations of the Aadhaar Act.
  • Further, it provides for an alternate virtual identity to conceal the actual Aadhaar number.

Election Commission

Category: Polity & Governance

  • Those not having their Electors Photo Identity Cards can now show any of the 11 alternative documents, including Aadhaar card, for exercising their franchise.
  • Henceforth, photo voter slip will not be accepted as a standalone identification paper.
  • If an elector produces a card issued by the Electoral Registration Officer of another Assembly constituency, such card will be accepted.

J&K ordinance

Category: Polity & Governance

  • The Union Cabinet approved the Jammu and Kashmir Reservation (Amendment) Ordinance, 2019.
  • It will pave the way to extend reservation in jobs, promotions and education to people living 10 km from the International Border (IB) in Jammu.
  • Earlier the benefits were only reserved for people living 10 km beyond the Line of Control (LoC) and affected by shelling and firing from across the border.
  • The ordinance in no way affected the rights of people of the State nor did it tinker with Article 35-A.
  • Article 35-A provides special rights and privileges to permanent residents of J&K.
  • The 740 km LoC in J&K is under the operational control of the Army and 192 km IB in Jammu is manned by the BSF.
  • Since the State was under President’s rule, the ordinance had to be cleared by the Centre.

National Mineral Policy 2019

Category: Economy

Some of the features in the policy include:

  • the introduction of the right of first refusal for the reconnaissance permit (RP)
  • encouraging the private sector to take up exploration and the auctioning of virgin areas on a revenue- sharing basis.

Software Product Policy

Category: Science & Tech

  • The Union Cabinet approved the National Policy on Software Products 2019.
  • The policy aims to help the industry grow at CAGR of 40% to reach $70-80 billion by 2025, while creating employment opportunities for 3.5 million people.
  • It aims to adopt a shift in strategy so that IT products also contribute equitably and significantly to the industry along with IT services.
  • It proposes to create a ₹5,000-crore fund with industry participation to promote emerging technology such as Internet of Things, Artificial Intelligence, Blockchain, Big Data and robotics. Of this, government contribution will be ₹1,000 crore.
  • It aims to nurture 10,000 technology start-ups in software product industry, including 1,000 such start-ups in tier-II and tier-III towns.
  • It also proposes up-skilling of 10 lakh IT professionals as well specialise 10,000 professionals to “provide leadership.”

FAME

Category: Environment

  • The Union Cabinet approved the implementation of second phase of the Faster Adoption and Manufacturing of Electric Vehicles or FAME with an outlay of ₹10,000 crore for three years.
  • The main objective is to encourage faster adoption of electric and hybrid vehicles.

Rhinos

Category: Biodiversity

  • International boundaries will not come in the way of conservation of rhinos, said representatives of Asian countries where the one-horned herbivore thrives.
  • The New Delhi Declaration underscored trans-boundary collaboration among India, Nepal, and Bhutan for the conservation and protection of the greater one-horned rhino.
  • There are no rhinos in Bhutan, but some from the Manas National Park in adjoining Assam or Buxa Tiger Reserve in West Bengal are known to cross over occasionally.
  • Indonesia and Malaysia are the other Asian countries where the last of the rhinos live.
  • The current global population of the Indian one-horned rhinoceros is 3,584. Assam’s Kaziranga National Park has the bulk of 2,938 rhinos in India while Nepal 646.
  • Once ranging from China to Bangladesh, the Javan and Sumatran rhinos are nearing extinction.
  • The Sumatran rhino, the smallest of all rhino species and the only Asian rhino with two horns, became extinct in the wild in Malaysia.
  • Sumatran rhino is critically endangered.

RBI Task Force

Category: Economy

  • The Reserve Bank of India has constituted an eight-member task force, headed by Usha Thorat to appropriate policy measures to ensure the stability of the external value of the rupee.

The terms of reference of the task force include:

  1. assessing the causes behind the development of the offshore rupee market;
  2. study the effects of the offshore markets on the rupee exchange rate and liquidity in the domestic market; and
  3. recommend measures to address concerns, if any, that may arise out of offshore rupee trading.
  • The task force will also propose measures to generate incentives for non-residents to access the domestic market.
  • It will also examine the role, if any, that the International Financial Services Centres (IFSCs) can play in addressing these concerns.

Bilateral Swap Arrangement

Category : International

  • Agreement for Bilateral Swap Arrangement (BSA) has been signed between India and Japan.
  • This BSA provides for India to access 75 billion in US dollars whereas the earlier BSA had provided for US $50 billion.
  • India can access the agreed amount of USD 75 billion for its domestic currency, for the purpose of maintaining an appropriate level of balance of payments or short-term liquidity.  
  • A part of the BSA can be accessed at the discretion of India.
  • The BSA provides India flexibility to use foreign exchange reserves if at any point of time there is need to use the resources available under BSA.

 

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