Current Affairs News Analysis | Prelims & Mains 2020 | 26th June 2020
“The meaning of life is to find your gift. The purpose of life is to give it away.” –Anonymous
Product Application and Development Centre at Paradip
Shri Dharmendra Pradhan inaugurates Product Application and Development Centre at Paradip, Odisha;
WHY IN NEWS:
Calls it an important step towards Aatmanirbhar Odisha
SYLLABUS COVERED: GS 3:Resources : Energy
For PRELIMS well this is a new concept to develop innovation and investor friendly ecosystem . Just remember the purpose and place . That would suffice your preparation.
For MAINS what are the demerits of such production hub ? Do you think this can cause migration ?
PRODUCT APPLICATION AND DEVELOPMENT CENTRE
- There are 4 laboratories in PADC namely Polymer Processing Lab, Analytical Testing Lab, Chemical Analysis Lab and Characterisation Lab.
- The Technical centre is equipped with 50 latest sophisticated polymer testing and processing equipment to cater to the needs of customers and new investors.
The centre will render assistance to customers and investors in product and application development for polymer finished products .
OTHER ACTIVITIES :
- The centre will carry out testing and developmental activities for investors of Paradeep Plastic Park and other clusters like Balasore and Khurda.
- The centre will impart requisite product and process training to the prospective and budding investors including hand holding activities for plant set-up, selection of machinery and material.
- PADC, Paradip is recognized as a research centre by the Department of Scientific and Industrial Research (DSIR), Ministry of Science & Technology, Govt of India.
- PADC will provide quality assurance, complaint handling, customer support, benchmarking studies, new & niche grade development and application development activities.
SOURCES:THE HINDU & PIB | Current Affairs News Analysis | Prelims & Mains 2020
“Money Laundering and the Illegal Wildlife Trade” Report : FATF
FATF report flags wildlife trade
WHY IN NEWS:
Illegal dealings generate $23 billion a year and have links to arms trade, slavery
SYLLABUS COVERED: GS 3:Reports
This is the first instance where in FATF has made a point ! Let us resolve this.
ILLEGAL WILDLIFE TRADE REPORT
The report is based on inputs from some 50 jurisdictions across the FATF global network, as well as expertise from the private sector and civil society.
- The illegal trade is estimated to generate revenues of up to $23 billion a year.
- The report says a financial investigation is key to dismantling the syndicates involved, which can in turn significantly impact the associated criminal activities.
- The findings expressed concern over the lack of focus on the financial aspects of the crime.
FRAUD AND TAX EVASION
- WILDLIFE CRIMES : Criminals are frequently misusing the legitimate wildlife trade, as well as other import-export type businesses, as a front to move and hide illegal proceeds from wildlife crimes.
- TAX EVASIONS : They also rely regularly on corruption, complex fraud and tax evasion.
- ONLINE MARKETS : The study has highlighted the growing role of online marketplaces and mobile and social media-based payments to facilitate movement of proceeds warranting a coordinated response from government bodies, the private sector and the civil society.
The report noted that in 2012, India amended the Prevention of Money Laundering Act removing a value threshold — of ₹30 lakh and above — that was earlier applicable to the wildlife trade predicates.
SOURCES:THE HINDU & PIB | Current Affairs News Analysis