Daily Current Affairs : 14-12-2020

1.Bangabandhu Sheikh Mujibur Rahman

Recently, the United Nations Educational, Scientific and Cultural Organisation (UNESCO) has decided to launch an international prize in the field of ‘creative economy’ in the name of Bangabandhu Sheikh Mujibur Rahman.

Key Highlights

• According to UNESCO, the international award will create a knowledge-sharing mechanism by capturing, celebrating and communicating best practice in the development of creative entrepreneurship.

• The UNESCO has quoted that the award will recognise exceptional initiatives taken by cultural workers and organizations in the development of the creative economy.

• The award will create an opportunity to spread the ideology of Bangabandhu in the world and inspire the cultural workers to develop the creative economy.

What is Creative Economy?

• Creative Economy refers to an economic activity that depends on the individual’s creativity for its economic value whether the result has in it any form of cultural value or not.

• The Creative Economy only occurs wherever the person’s creativity is the major source of value as well as the main cause of a transaction.

• The large entertainment sector and diverse cultural traditions form a strong backbone of creative capital.

• The commercialization and monetization of creative works generate a chain of economic activity, and drive the production and consumption of goods and services.

About Bangabandhu Sheikh Mujibur Rahman

• He was a Bangladesh politician and statesman and is also called the ‘Father of the Nation’ in Bangladesh.

• He served as the first President of Bangladesh and then later as the Prime Minister of the country.

• He is credited as a significant figure for gaining political autonomy for East Pakistan.

Additional Information

 

UNESCO has declared 2021 as ‘International Year of Creative Economy for Sustainable Development’.

 

Currently, there are 23 UNESCO International Awards in the name of international celebrities and organisations.

Source: All India Radio

2.Scheme for Special Assistance to States for Capital Expenditure

Recently, all the States except Tamil Nadu have availed benefits of the newly announced scheme for “Special Assistance to States for Capital Expenditure”.

Background

• The scheme was announced by the Finance Minister on 12th October, 2020 as a part of the AatmaNirbhar Bharat package.

• It was decided to extend a special assistance to the State Governments in respect of capital expenditure, in financial year 2020-21.

  • The capital expenditure proposals of Rs. 9,879.61 crore of 27 States have been approved by the Ministry of Finance.

About Special Assistance to States for Capital Expenditure

• The Scheme has three parts:

• • Part –I of the scheme covers the north-eastern region: Under this part, Rs.200 crores is allocated to 7 north-eastern States (Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland, Sikkim and Tripura).

    • In view of higher population and geographical area, Assam has been allocated Rs.450 crores under the scheme.

  • Part-II of the Scheme is, for all other States not included in Part-I: The amount has been allocated amongst these States in proportion to their share of central tax as per the interim award of the 15th Finance Commission for the year 2020-21.

  • Part-III of the Scheme is aimed at pushing various citizen-centric reforms in the States: The amount will be available only to those States who carry out at least 3 out of the 4 reforms specified by the Ministry of Finance.

    • The 4 reforms are One Nation One Ration Card, Ease of doing Business Reform, Urban Local Body/ Utility Reform and Power Sector Reform.

Significance of the Special Assistance to States for Capital Expenditure

• The Scheme is aimed at boosting capital expenditure by the State Governments who are facing difficult financial environment during the pandemic.

• The capital Expenditure has a higher multiplier effect, enhancing the future productive capacity of the economy, and results in a higher rate of economy growth.

• The capital expenditure projects have been approved in diverse sectors of economy like, Health, Rural Development, Water Supply, Irrigation, Power, Transport, Education and Urban Development.

Source: PIB

3.Handicraft and GI Toys exempted from Quality Control Order

Recently, the Department for Promotion of Industry and Internal Trade (DPIIT) has released the Toys (Quality Control) Second Amendment Order, 2020.

Key Highlights

• It exempts goods manufactured & sold by artisans registered with Development Commissioner (Handicrafts), from use of Standard Mark under licence from Bureau of Indian Standards, as per Scheme1 of Schedule-II of BIS (Conformity Assessment) Regulations, 2018.

• The Amendment Order 2020 also exempts products registered as Geographical Indications from following Indian Toy Standards & compulsory use of Standard Mark licence from Bureau as per Scheme 1 of Schedule-II of BIS (CA) Regulations, 2018.

• The notification issued by the department says that nothing in this Order shall apply to goods or articles manufactured and sold by Registered proprietor and Authorised user of a product registered as Geographical Indication by the Registrar of Geographical Indications, Office of Controller General of Patents, Designs and Trademarks (CGPDTM).

Significance of exemption of Handicraft and GI Toys

• It is aimed at framing a comprehensive plan in order to boost production & sale of indigenous toys across the country.

• The order aims to bring forward the synergized efforts of the GoI, states and the stakeholders to promote ‘Team up for toys’ vision keeping quality standards of the indigenous toys as the priority.

What is Quality Control Order for toys?

• The Quality Control Order shall apply to (Toys) Product or material designed or clearly intended for use in play by children under 14 years of age or any other product as notified by the Central Government from time to time.

• The order shall apply to Toys as they are initially received by the children and, in addition, this shall apply after a toy is subjected to reasonably foreseeable conditions of normal use and abuse unless specifically noted otherwise.

Source: All India Radio

4.Climate Ambition Summit 2020

Recently, the Climate Ambition Summit 2020 marks the fifth anniversary of the Paris Agreement on the Climate Change.

Key Highlights

• The Climate Ambition Submit 2020 was co-convened by the United Nations, the UK COP Presidency and France, in partnership with Chile and Italy.

• The summit aims to bring together leaders to make new commitments to tackle climate change and deliver on the goals of the Paris Agreement.

• The Summit is a major step on the road to the next UN Climate Change Conference of the Parties (COP26).

• The Summit will provide leaders with a global platform to showcase commitments to tackle climate change which will be under the three pillars of the Paris Agreement: mitigation, adaptation and finance commitments.

Commitments made under Climate Ambition Summit 2020

• The United Kingdom pledged to double its climate finance contribution to USD 15.5 billion over the next five years.

• The European Investment Bank announced a goal of 50% of investments going toward the climate and environment sectors by 2025.

• China’s commitment to lower its carbon dioxide emissions per unit of GDP by over 65% from 2005 levels by 2030 and the EU’s commitment to reduce GHG emissions by at least 55% from 1990 levels by 2030.

• The ambitious commitments will take the shape of new Nationally Determined Contributions, Long-Term Strategies setting out a pathway to net zero emissions.

• It also called for climate finance commitments to support the most vulnerable and ambitious adaptation plans and underlying policies.

Source: PIB