CURRENT AFFAIRS 26-07-2020

KASHMIR SAFFRON HAS GET GI TAG:

What is in news?

The J&K administration issued the certificate of geographical indication (GI) registration for saffron grown in the Kashmir Valley, even as the crop sees a decline in its production and shrinking of land under cultivation.

About:

• The GI tag would also stop adulteration prevalent in its trade, Kashmir saffron, grown at an altitude of 1,600 metres, saw a steep decline in production by around 65%, from 16 tonnes to 5.6 tonnes in 2018.

• According to an official data, land under saffron cultivation has also come down to 3,715 hectares in 2009 , 10 from 5,707 hectares in 1996.

Geographical Indication (GI):

• It is an insignia on products having a unique geographical origin and evolution over centuries with regard to its special quality or reputed attributes.

• It is a mark of authenticity and ensures that registered authorized users or at least those residing inside the geographic territory are allowed to use the popular product names.

• GI tag in India is governed by Geographical Indications of Goods (Registration & Protection) Act, 1999. It is issued by the Geographical Indications Registry (Chennai).

Benefits of GI Tag:

• It provides legal protection to Indian Geographical Indications thus preventing unauthorized use of the registered GIs by others.

• It promotes economic prosperity of producers of goods produced in a geographical territory.

• The GI protection in India leads to recognition of the product in other countries thus boosting exports.

ENVIRONMENT IMPACT ASSESSMENT (EIA)

What is in news?

Congress leader Jairam Ramesh sent in his strong objections to the draft Environment Impact Assessment (EIA) Notification 2020 the proposed changes display a mindset that “environmental regulations are unnecessary regulatory burden”.

About :

• “These changes are not based on the three As — audits, assessments and analyses.

• The changes are not based on any research. They reflect a mindset that sees environmental regulation as an unnecessary regulatory burden and not as an essential obligation to be met for the health and welfare of our people and for ensuring development that is sustainable,”

History of EIA in India

• The Indian experience with Environmental Impact Assessment began over 20 years back. It started in 1976-77 when the Planning Commission asked the Department of Science and Technology to examine the river-valley projects from an environmental angle.

• Till 1994, environmental clearance from the Central Government was an administrative decision and lacked legislative support.

• On 27 January 1994, the then Union Ministry of Environment and Forests, under the Environmental (Protection) Act 1986, promulgated an EIA notification making Environmental Clearance (EC) mandatory for expansion or modernisation of any activity or for setting up new projects listed in Schedule 1 of the notification.

• The Ministry of Environment, Forests and Climate Change (MoEFCC) notified new EIA legislation in September 2006.

• The notification makes it mandatory for various projects such as mining, thermal power plants, river valley, infrastructure (road, highway, ports, harbours and airports) and industries including very small electroplating or foundry units to get environment clearance.

• However, unlike the EIA Notification of 1994, the new legislation has put the onus of clearing projects on the state government depending on the size/capacity of the project.

Salient Features of 2006 Amendments to EIA Notification:

• Environment Impact Assessment Notification of 2006 has decentralized the environmental clearance projects by categorizing the developmental projects in two categories, i.e., Category A (national level appraisal) and Category B (state level appraisal).

• Category A projects are appraised at national level by Impact Assessment Agency (IAA) and the Expert Appraisal Committee (EAC) and Category B projects are apprised at state level.

• State Level Environment Impact Assessment Authority (SEIAA) and State Level Expert Appraisal Committee (SEAC) are constituted to provide clearance to Category B process.

After 2006 Amendment the EIA cycle comprises of four stages:

• Screening

• Scoping

• Public hearing

• Appraisal

Category A projects require mandatory environmental clearance and thus they do not undergo the screening process.

Category B projects undergoes screening process and they are classified into two types.

Category B1 projects (Mandatorily requires EIA).

Category B2 projects (Do not require EIA).

Thus, Category A projects and Category B, projects undergo the complete EIA process whereas Category B2 projects are excluded from complete EIA process.

Importance of EIA

• EIA links environment with development for environmentally safe and sustainable development.

• EIA provides a cost effective method to eliminate or minimize the adverse impact of developmental projects.

• EIA enables the decision makers to analyse the effect of developmental activities on the environment well before the developmental project is implemented.

• EIA encourages the adaptation of mitigation strategies in the developmental plan.

• EIA makes sure that the developmental plan is environmentally sound and within the limits of the capacity of assimilation and regeneration of the ecosystem.

COVIDSHIELD

What is in news?

The Serum Institute of India (SII), which has partnered with BritishSwedish pharma company AstraZeneca for manufacturing the University of Oxford vaccine candidate for COVID19, has sought permission from the Drugs Controller General of India (DCGI) for conducting “phase 2/3 human clinical trials” of the potential vaccine,

About:

• It is a Punebased drug firm submitted its application to the DCGI on Friday, seeking permission for conducting trials of ‘Covidshield’.

• Initial results of the first twophase trials of the vaccine conducted in five trial sites in the U.K. showed it has an acceptable safety profile and homologous boosting increased antibody responses.

• SII plans to start the phase 2 and 3 human trials in India in August.

AMALA SHANKAR

What is in news?

Eminent dancer and choreographer Amala Shankar passed away in Kolkata. She was 101.

About:

• Amala was the wife of legendary dancer-choreographer Uday Shankar and sister-in-law of sitar maestro Pandit Ravi Shankar.

• She also acted in the film Kalpana (1948) written and directed by her husband Uday Shankar.

• She was awarded the Banga Bibhusan by the West Bengal government in 2011 for her contribution in the field of arts.

OPERATION LEGEND

What is in news?

US President Donald Trump announced a “surge of federal law enforcement” in cities run by Democrats, including Chicago, as part of an expanded ‘Operation Legend’.

About:

• Operation Legend is a federal law enforcement operation in the U.S. initiated by the administration of President Donald Trump.

• The operation was named after four-year-old LeGend Taliferro, who was shot and killed in Kansas City, Missouri, on June 29, 2020.

• It was implemented after President Trump began deploying federal law enforcement agents to help the local police crack-down on violent crime in the wake of the George Floyd protests.

• Since the killing of George Floyd at the hands of the police in Minneapolis on May 25, anti-racism protesters have been protesting on the streets of the city to seek police reforms.

STATE ELECTION COMMISSIONER (SEC)

What is in news?

Governor of Andhra Pradesh has directed the state government to take steps for the reinstatement of Nimmagadda Ramesh Kumar as State Election Commissioner (SEC) as per the May 29, 2020 High Court judgment.

A.P. Panchayat Raj (Second Amendment) Ordinance, 2020:

• The High Court on May 29 struck down the A.P. Panchayat Raj (Second Amendment) Ordinance, 2020, through which the government curtailed the tenure of the SEC from five to three years and the consequent appointment of Madras High Court retired judge V. Kanagaraj as new SEC.

• The court had ordered that Mr. Ramesh Kumar be restored as the SEC.

• The high court verdict which was challenged in the Supreme Court by the State government, which asserted that his act of self-restoration as SEC was beyond the conceivable mandate of law. The matter is pending in the Supreme Court.

Article 243K of Indian Constitution:

• Article 243K deals with the Elections to the Panchayats.

• It states that The superintendence, direction and control of the preparation of electoral rolls for, and the conduct of, all elections to the Panchayats shall be vested in a State Election Commission.

• It shall consist of a State Election Commissioner to be appointed by the Governor.

• Subject to the provisions of any law made by the State Legislature, the conditions of service and tenure of office of the State Election Commissioner shall be such as the Governor may by rule determine. However,

• The State Election Commissioner shall not be removed from his office except in like manner and on the like ground as a Judge of a High Court.

• The conditions of service of the State Election Commissioner shall not be varied to his disadvantage after his appointment.

AMENDMENTS IN THE INDIAN STAMP ACT, 1899

What is in news?

The Amendments in the Indian Stamp Act, 1899 brought through Finance Act 2019 and Rules have come into effect from July 1, 2020.

About:

• From July 1, 2020, all shares and mutual fund purchases will attract a stamp duty of 0.005 % and any transfer of security (MF units) will attract a stamp duty of 0.015 %. With this, all categories of mutual funds (except for ETFs) will attract stamp duty for the first time.

• The stamp-duty on sale, transfer and issue of securities shall be collected on behalf of the State Government by the collecting agents (i.e. the Stock Exchanges or authorized Clearing Corporations and the Depositories) who will then transfer the collected stamp-duty in the account of the concerned State Government.

• In order to bring in uniformity of the stamp duty on securities across States and thereby build a pan-India securities market, the Central Government has created the legal and institutional mechanism. It will enable states to collect stamp duty on securities market instruments at one place by one agency through one Instrument.

• A mechanism for appropriately sharing the stamp duty with relevant State Governments has also been developed which is based on the state of domicile of the buyer.

KUMHAR SASHAKTIKARAN YOJANA

What is in news?

Union Home Minister distributed 100 electric potter wheels to 100 trained artisans from Gandhinagar under Kumhar Sashaktikaran Yojana of Khadi and Village Industries Commission (KVIC).

About:

• Kumbhar Sashaktikaran Program is an initiative of the Khadi and Village Industries Commission (KVIC) for empowerment of potters community in the remotest of locations in the country.

• It was launched in 2018.

• This program provides the following support to potters.

• Training for advanced pottery products

• Latest, new technology pottery equipments like the electric Chaak

• Market linkages and visibility through KVIC exhibitions

SPECIAL WINDOW FOR AFFORDABLE AND MID INCOME HOUSING (SWAMIH)

What is in news?

Union Finance Minister reviewed the performance of Special Window for Affordable and Mid Income Housing (SWAMIH). The fund has so far approved 81 projects with an investment of Rs 8767 crore.

About:

• SWAMIH Investment Fund has been formed to complete construction of stalled, RERA-registered affordable and mid-income category housing projects which are stuck due to paucity of funds.

• The fund has a target corpus of Rs 12,500 crore with a greenshoe option of Rs 12,500 crore.

• The Investment Manager of the Fund is SBICAP Ventures, a wholly-owned subsidiary of SBI Capital Markets, which in turn is a wholly-owned subsidiary of the State Bank of India.

• The Sponsor of the Fund is the Secretary, Department of Economic Affairs, Ministry of Finance, Government of India on behalf of the Government of India.

• In November 2019, the Union Cabinet cleared a proposal to set it up.

Greenshoe option?

• A greenshoe option is an over-allotment option.

• In the context of an initial public offering (IPO), it is a provision in an underwriting agreement that grants the underwriter the right to sell investors more shares than initially planned by the issuer if the demand for a security issue proves higher than expected.

CONSUMER PROTECTION (E-COMMERCE) RULES, 2020

What is in news?

The government has notified the 'Consumer Protection (E-Commerce) Rules, 2020' on 23rd July, 2020. These are the new rules and regulations for e-commerce companies under the Consumer Protection Act 2019.

Salient features of the rules:

• It aims to protect the rights of consumer by establishing authorities for timely and effective administration and settlement of consumers' disputes.

• The rules will be applicable to all electronic retailers registered in India or abroad but offering goods and services to Indian consumers.

• The violation of the rules will attract penal action under the Consumer Protection Act, 2019.

• The e-commerce players will have to display the total price of goods and services offered for sale along with the break-up of other charges.

• They are also required to mention the 'expiry date' of goods offered for sale and the 'country of origin' of goods and services that are necessary for enabling the consumer to make an informed decision at the pre-purchase stage.

• It empower the central government to act against unfair trade practices in e-commerce and direct selling. They require e-tailers to facilitate easy returns, address customer grievances and prevent discriminating against merchants on their platforms.

• Marketplaces as well as sellers would be required to have grievance officers who have to respond in a time-bound manner.

• E-commerce companies are not allowed to "manipulate the price" of the goods and services offered on their platforms to gain unreasonable profit and discriminate between consumers of the same class.

• The new rules do not permit any inventory e-commerce entity to "falsely represent itself as a consumer and post reviews about goods and services or misrepresent the quality or the features of any goods and services".