Current Affairs News Analysis for UPSC | 17th Dec 2020

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IASbhai Current Affairs News Analysis | Prelims & Mains 2020-21 is an initiative to dilute major articles from leading Newspapers in India which are most relevant to UPSC preparation –‘THE HINDU, LIVEMINT , INDIAN EXPRESS’ and help millions of readers who find difficulty in answer writing and making notes everyday. Hence we choose articles on daily basis and analyse them with respect to UPSC PRELIMS 2021.

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HIGHLIGHT INFO:

ORANGE COLOUR: Important for Prelims.

RED COLOUR: Important for Mains.

BLACK COLOUR: Must Read !

BLUE COLOUR : Important Links/Survey.

PINK COLOUR: Reports/Themes/Summits.

Page Contents:

Current Affairs News Analysis for UPSC | 17th Dec 2020

Today's Must Read Articles :

PMSSS SCHEME

Covaxin Phase-1 trials

HEADLINES:

Covaxin Phase-1 trials show promising results

WHY IN NEWS:

It triggered ‘robust immune response’
Phase-1 results show that Covaxin, a COVID-19 vaccine candidate, is safe.

SYLLABUS COVERED: GS 3:Diseases

ISSUE:

It was well-tolerated in all dose groups and generated a robust immune response.

COVAXIN PHASE-1 TRIALS

DEVELOPED BY

The vaccine is being developed by the Hyderabad-based Bharat Biotech in collaboration with the Indian Council of Medical Research (ICMR)

KEYPOINTS

The Phase-1 placebo-controlled randomised double-blind trial on the safety and immunogenicity of three different formulations of BBV152 reported the results of the trial on 375 participants.

Reactogenicity was absent in the majority of participants, with mild events.

The majority of adverse events were mild and were resolved.
One serious adverse event was reported, which was found to be unrelated to vaccination.Vaccines were administered on a two-dose intramuscular accelerated schedule on day 0 (baseline) and day 14.
The primary outcomes were reactogenicity and safety.

[wc_highlight color=”yellow” class=””]ALSO READ : PFIZER [/wc_highlight]

IASbhai WINDUP:

Researchers from Bharat Biotech, ICMR, the All India Institute of Medical Sciences at New Delhi and Patna, and several other institutes participated in the analyses.

SOURCES: THE HINDU | Current Affairs News Analysis for UPSC | 17th Dec 2020

Spectrum auction

HEADLINES:

Spectrum auction

WHY IN NEWS:

The Union Cabinet has approved a proposal of the Department of Telecommunications to conduct spectrum auction

MINISTRY? :- Ministry of Communication

SYLLABUS COVERED: GS 3: Telecommunications

ISSUE:

Spectrum will be assigned to the successful bidders for providing commercial mobile services.

ALLOCATION OF SPECTRUM

WAVELENGTHS

The auction will be for spectrum in 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz frequency bands.

Spectrum will be offered for assignment for validity period of 20 years.

TOTAL REVENUE

A total of 2251.25 MHz is being offered with total valuation of Rs. 3,92,332.70 crore (at reserve price).

Winning right to use spectrum is through the auction, incumbent telecom service providers will be able to augment their network capacity.

Whereas new players will be able to start their services.

PAYMENT OPTIONS

Successful bidders may pay entire bid amount in one go (upfront) .
They may also exercise an option to pay a certain amount upfront and remaining amount in a maximum up to 16 equated annual instalments, after a moratorium of two years.

IASbhai WINDUP:

In addition to the bid amount, successful bidders will also have to pay 3% of the Adjusted Gross Revenue (AGR) excluding wireline services as spectrum usage charges for the spectrum won through this auction.

SOURCES: THE HINDU | Current Affairs News Analysis for UPSC | 17th Dec 2020

Human Development Index 2020

HEADLINES:

India drops two ranks in Human Development Index

WHY IN NEWS:

UNDP Resident Representative Shoko Noda said the drop in India’s ranking doesn’t mean “India didn’t do well but other countries did better”.

SYLLABUS COVERED: GS 3: Reports

ISSUE:

The 2020 Human Development Report said indigenous children in India, Cambodia and Thailand show more malnutrition-related issues such as stunting and wasting.

HUMAN DEVELOPMENT INDEX REPORT

PUBLISHED BY

United Nations Development Programme

HIGHLIGHTS

The HDI itself is an assessment of a nation’s health, education and standards of living.

No country has yet been able to achieve a very high level of development without putting a huge strain on natural resources.

India’s gross national income per capita fell to $6,681 in 2019 from $6,829 in 2018 on purchasing power parity (PPP) basis.

Cambodia, India and Thailand show more malnutrition-related issues such as stunting and wasting.

KEYPOINTS

India dropped two ranks in the United Nations’ Human Development Index this year, standing at 131 out of 189 countries.
For the first time, the United Nations Development Programme introduced a new metric to reflect the impact caused by each country’s per-capita carbon emissions and its material footprint.

Current Affairs News Analysis for UPSC | 17th Dec 2020

SOURCES : THE HINDU

GLOBAL RANKINGS

Norway, which tops the HDI, falls 15 places if this metric is used, leaving Ireland at the top of the table.
In fact, 50 countries would drop entirely out of the “very high human development group” category, using this new metric, called the Planetary Pressures-adjusted HDI, or PHDI.
Australia falls 72 places in the ranking, while the United States and Canada would fall 45 and 40 places respectively, reflecting their disproportionate impact on natural resources.
The oil and gas-rich Gulf States also fell steeply.
China would drop 16 places from its current ranking of 85.

China’s net emissions (8 gigatonnes) are 34% below its territorial emissions (12.5 gigatonnes) compared with 19% in India and 15% in Sub-Saharan Africa.

IASbhai WINDUP:

However, if the Index were adjusted to assess the planetary pressures caused by each nation’s development, India would move up eight places in the ranking.

SOURCES: THE HINDU | Current Affairs News Analysis for UPSC | 17th Dec 2020

Aircraft leasing regulations

HEADLINES:

Aircraft leasing regulations

WHY IN NEWS:

International Financial Services Centres Authority (IFSCA) has issued consultation paper on proposed Aircraft Leasing Regulations.

MINISTRY? :-Ministry of Civil Aviation

SYLLABUS COVERED: GS 3: Transport

ISSUE:

India is poised to become the 3rd largest aviation market in the world by 2022.

AIRCRAFT LEASING REGULATIONS

In January 2019, India’s Ministry of Civil Aviation published a report, ‘Project Rupee Raftar’, that provided roadmap to developing an aircraft financing and leasing industry in India.
The report identified International Financial Services Centre (GIFT city) for developing aircraft leasing and financing eco-system in the country.

RECENT DEVELOPMENTS

In October, 2020, Government of India , on the recommendation of IFSCA, had notified ‘Aircraft lease which shall include operating and financial lease of aircraft or helicopter and their engines’ as a financial product under International Financial Services Centres Authority Act, 2019.
Considering, Aircraft leasing is a relatively new industry in India.

IASbhai WINDUP:

Aircraft Leasing related regulations are different across various financial centres, IFSCA has prepared draft regulations for Aircraft Leasing and in order to get inputs from stakeholders as well as public comments.

SOURCES: PIB | Current Affairs News Analysis for UPSC | 17th Dec 2020

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