Daily Current Affairs 2 September 2020 With Video Lecture

What is National Register of citizen?

• The NRC is the list of Indian citizens and was prepared in 1951, following the census of 1951.
• NRC is a register containing the names of all genuine Indian citizens.
• NRC is prepared in respect of each village, showing the houses or holdings in a serial order and indicating against each house or holding the number and names of persons staying therein.
• Aim: To separate “illegal” immigrants from “legitimate” residents.
• Creation of NRC is mandated by the 2003 amendment of the Citizenship Act, 1955.

Green Term Ahead Market

• Union Power Minister launches Green Term Ahead Market (GTAM) in electricity.
• By this Indian power market has gone green.
• Aim: Increase in the participants in the renewable energy sector.
• GTAM platform would lessen the burden on renewable energy (RE)-rich States and incentivize them to develop RE capacity beyond their own Renewable Purchase Obligations (RPO)
• This would promote RE merchant capacity addition and help in achieving RE capacity addition targets of the country.”
• The Government of India’s target of 175 GW RE Capacity by 2022 is driving accelerated renewable penetration pan-India.

Australia-India-Japan Joint Statement on Supply Chains Resilience

• Australia, India and Japan held a ministerial video conference.
• They have decided to work on a new initiative for regional cooperation on supply chain resilience in the Indo-Pacific region considering the Covid-19 crisis.
• The meeting reaffirmed free, inclusive, transparent, non-discriminatory and stable trade to keep their markets open.
•  It was first proposed by Japan.
• The initiative aims to reduce the dependency of the countries’ needs on a single nation.
• Supply Chain Resilience Initiative:
• Supply chain resilience is an approach that helps a country to ensure that it has diversified its supply risk across a clutch of supplying nations instead of being dependent on just one or a few.
• Unanticipated events — whether natural or a pandemic; or manmade, such as an armed conflict in a region — that disrupt supplies from a particular country or even intentional halts to trade.
• That could adversely impact economic activity in the destination country.

India’s GDP growth contracts 23.9%

• According to National Statistical Office (NSO) data, India’s Gross Domestic Product (GDP) growth contracted by 23.9% in the first (April-June) quarter of 2020 compared to the same period (April-June) in 2019.
• All the sectors have shown negative growth except agriculture where the growth was 3.4%.
• The worst affected were:
• Construction (-50%)
• Trade, hotels and other services (–47%)
• Manufacturing (–39%)
• Mining (–23%).
• Gross domestic Product: GDP is a measure of economic activity in a country. It is the total value of a country’s annual output of goods and services in a given period. GDP in the economy comes from four sectors:
• Household (Consumption – C)
• Private Sector (Investment – I)
• Government (Consumption + Investment represented by G)
• Export – Import (X-M)
• What causes GDP contraction?
• Private consumption has fallen by 27%.
• Investment by private sector businesses have fallen by 47%.
• Demand for goods and services generated by the government (G), and it accounted for 11% of India’s GDP.
• The net export demand has turned positive in this first quarter because India’s imports have crashed more than its exports.

World’s Largest Solar Tree

• CSIR-CMERI has developed the World’s Largest Solar Tree.
• Installed at CSIR-CMERI Residential Colony, Durgapur.
• The tree has an annual capacity of generating 12,000 to 14,000 units of Clean and Green power.
• Installed capacity of the Solar Tree is above 11.5 kWp.
• The Solar Tree has been designed in such a way that maximum exposure of each Solar Photo Voltaic Panel is achieved.
• There are a total of 35 Solar PV panels in each tree.
• Each panel has a capacity of 330 watt-power.
• The Solar Trees can be aligned with agriculture to substitute price-volatile fossil fuels.
• One solar tree can reduce ten to twelve tonnes of carbon dioxide emissions

Current COVID19 Situation in India

QUIZ TIME

Recently Joint Statement on Supply Chains Resilience was released by which of the following countries?

1. India
2. Japan
3. Australia
4. All of the above

Answer – D

World’s Largest Solar Tree is located at:

1. Durgapur
2. Durg
3. Jabalpur
4. Guwahati

Answer – A

World’s Largest Solar Tree is developed by:

1. ICMR
2. CSIR
3. IISc
4. None

Answer – B

Question of the Day

What are Open Market Operations?

Answer in next session…