02 MARCH 2022 DAILY CURRENT AFFAIRS | UPSC CDS CAPF AFCAT NDA SSB

1. MONTREUX CONVENTION

Turkey is set to implement an international convention on naval passage through two of its strategic straits, which would allow them to limit the movement of Russian warships between the Mediterranean Sea and the Black Sea.

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Turkey said that the situation in Ukraine had become a war, a declaration that authorises Turkey to activate the Montreux Convention and ban Russian war vessels from entering the Black Sea through the Bosporus and Dardanelles straits.
The Bosporus and Dardanelles straits, also known as the Turkish Straits or the Black Sea Straits, connect the Aegean Sea and the Black Sea via the Sea of Marmara. It is the only passage through which the Black Sea ports can access the Mediterranean and beyond.

Montreux Convention

According to the 1936 Montreux Convention Regarding the Regime of the Straits, often referred to simply as the Montreux Convention, Turkey has control over both the Bosporus and Dardanelles straits.
In the event of a war, the pact gives Turkey the right to regulate the transit of naval warships and to block the straits to warships belonging to the countries involved in the conflict.
Russia’s location on the Black Sea complicates the situation. Article 19 of the treaty contains an exception for the countries on the Black Sea that can effectively undermine Turkey’s power in blocking the Russian warships entering or exiting the Black Sea.

Source : Indian Express

2. INDIAN AND RUSSIAN DEFENCE TIES

With tensions escalating between Russia and the West over the Ukraine crisis, India, which has major defence cooperation with Moscow and Kyiv, faces uncertainty over timely deliveries in the near future in addition to the lingering threat of the U.S. sanctions under CAATSA (Countering America’s Adversaries Through Sanctions Act) over the S-400 deal.

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Russia is the second largest arms exporter in the world, following only the United States. In the five-year period between 2016 and 2020 America’s share in the global arms trade was 37 per cent, compared to 20 per cent of Russia’s, as per the Stockholm International Peace Research Institute (SIPRI), which tracks the global arms trade and military expenditure.
For Russia, India is the largest importer, and for India, Russia the largest exporter when it comes to arms transfer.
Between 2000 and 2020, Russia accounted for 66.5 per cent of India’s arms imports. Of the $53.85 billion spent by India during the period on arms imports, $35.82 billion went to Russia.
During the same period imports from the US were worth $4.4 billion, and from Israel it was worth US$ 4.1 billion.
Russia’s share in Indian arms imports was down to about 50 per cent between 2016 and 2020, but it still remained the largest single importer.

Source : The Hindu

3. GOODS AND SERVICES TAX (GST)

Gross Goods and Services Tax (GST) revenue collections in February (for sales in January) rose 17.6 per cent year-on-year to Rs 1.33 lakh crore, data released by the Finance Ministry showed.

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This marks the fifth consecutive month of GST collections being more than Rs 1.30 lakh crore, coming on the back of anti-evasion measures and a pickup in economic activity.
Experts said GST collections remaining at this level indicate the revenues may cross the revised targets set for FY22 in the Budget.
While on an overall basis the collections are 17.6 per cent higher than the same period last year, there is significant divergence amongst states, from the range of 2 per cent to 23 per cent.
GST Compensation Cess collections crossed ₹10,000 crore in a month for the first time in February, which the Ministry said “signifies recovery of certain key sectors, especially, automobile sales”.
The cess collections in February were ₹10,340 crore, and included ₹638 crore collected on import of goods.

Source : The Hindu

4. ARTICLE 80

The Chandigarh Municipal Corporation approved a proposal to amend Article 80 of the Constitution so that its councillors could send a representative to the Rajya Sabha.

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Article 80 of the Constitution of India deals with the composition of the council of states also called the Upper House and Rajya Sabha (Upper House).
In the case of Chandigarh, the Private Member Bill was introduced by Congress MP from Anandpur Sahib, Punjab, Manish Tewari, who is a resident of Chandigarh.
Tewari has sought the adding of a provision “provided that the ‘representative of the UT of Chandigarh in the council of states shall be elected by an electoral college consisting of elected members of Municipal Corporation of Chandigarh constituted under the Punjab Municipal Corporation (Extension to Chandigarh) Act, 1994” in Article 80 of the Constitution in clause (5).
MP Tewari has also sought amendment of the Fourth Schedule of the Constitution with ‘Entry 32, Chandigarh.”

Important Info :

Private Member Bill

The Private Member Bill is a bill introduced by a Member of Parliament (MP), who is not a minister. MPs sitting in the Opposition mostly bring Private Member Bills in the house.

Source : Indian Express

5. SAGAR PARIKRAMA

Union Minister for Fisheries, Animal Husbandry and Dairying will inaugurate the ‘Sagar Parikrama’ on 5th Feb 2022.

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The Parikrama, starting from Mandvi at Shyamiji Krishna Varma Memorial, Gujarat, as a part of ‘Azadi Ka Amrit Mahotsava’, is an endeavour to know the problems of Coastal Fisher folk.
It will be organised in other districts of Gujarat and other State/UTs in subsequent phases.
The Parikrama shall be accompanied by the State Fisheries officials, Fishermen representatives, Fish-Farmers entrepreneurs, stakeholders, professionals, officials and Scientists from across the nation.

Source : PIB

7. FIFA

On February 28, 2022, FIFA and UEFA decided to indefinitely suspend all Russian teams, whether national representative teams or club teams, from participation in all competitions run by the two football bodies.

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FIFA, Fédération Internationale de Football Association in French, is the highest global governing body of football (also known as soccer to distinguish it from American football), the world’s most popular game.
FIFA is also the international governing body for futsal (a kind of mini football played indoors on a hard court between two teams of five players each) and beach soccer (five-a-side, played on a beach).
FIFA is responsible for organising and promoting football’s major international tournaments, most importantly the football World Cup, which began in 1930, and the Women’s World Cup which began in 1991.
The membership of FIFA now comprises 211 national football associations around the world.
FIFA, which is headquartered in Zurich, Switzerland, supports these national associations financially and logistically through various programmes.
The FIFA Congress is the supreme legislative body of FIFA, in which each of the 211 members of the organisation has a vote. The Congress ordinarily meets annually.

Source : Indian Express

8. KHARKIV

India’s evacuation exercise faces a challenge after the death of an Indian student during shelling in Kharkiv, Ukraine’s second largest city which has been attacked by Russia.

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The death also complicates New Delhi’s diplomatic hand — it had been projecting itself as a neutral actor, refusing to take sides.
Suddenly, the safety and security of around 8,000 Indian nationals still there has become an issue of urgent concern.

Kharkiv

Kharkiv, also known as Kharkov, is the second-largest city and municipality in Ukraine.
Located in the northeast of the country, it is the largest city of the historic Slobozhanshchyna region.
Kharkiv is located at the banks of the Kharkiv, Lopan, and Udy rivers, where they flow into the Seversky Donets watershed in the north-eastern region of Ukraine.

Source : Indian Express

9. AROGYA VANAM

The President of India Ram Nath Kovind, inaugurated on March 1, 2022 a newly developed Arogya Vanam at the President’s Estate in the presence of the Prime Minister, Shri Narendra Modi.

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Spread in 6.6 acres, the Arogya Vanam has been developed in the shape of a human sitting in the Yoga Mudra. It consists of around 215 herbs and plants used for therapeutic purposes in Ayurveda.
Some of the other features of this Vanam are water fountains, Yoga platform, water channel, lotus pond and a view point.
The concept of Arogya Vanam has been conceived with the aim of publicising the importance of Ayurvedic plants and their effects on human body. This Vanam will be now open for public viewing.

Source : PIB

10. MINIMUM ASSURED RETURN SCHEME (MARS)

Pension Fund Regulatory and Development Authority (PFRDA), which operates the National Pension System (NPS), is preparing to launch a guaranteed return scheme, Minimum Assured Return Scheme (MARS), which will provide savers and people from the salaried class an option for their investments.

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The regulator has appointed EY Actuarial Services LLP as a consultant to help design the proposed MARS under the NPS. This will be the first scheme from the pension regulator that will offer a guaranteed return to investors.
The PFRDA wants to launch the scheme before the end of the current calendar year.
The actual returns will depend on the market conditions. Any shortfall will be made good by the sponsor, and the surplus will be credited to the subscribers’ account.
Two options are likely to be on offer.
Under the fixed guarantee option, the guaranteed return is fixed along the accumulation phase.
Under the floating guarantee option, the guaranteed rate of return is not fixed along the savings phase. The floating guarantee depends on the development of the 1-year interest rate until retirement.

Source : Indian Express

02 MARCH 2022 DAILY CURRENT AFFAIRS | UPSC CDS CAPF AFCAT NDA SSB

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