Daily Current Affairs for UPSC Civil Services Exam – 03 June 2021

Daily Current Affairs for UPSC Civil Services Exam – 03 June 2021

In Today’s News:

  1. MoC between India and Japan in the field of sustainable Urban Development.
  2. SWASTIIK technology – Safe and healthy drinking water.
  3. MOU between India and Argentine in the field of Mineral resources.
  4. Base Erosion and Profit Shifting(BEPS).

1. MoC between India and Japan in the field of sustainable Urban Development

News Summary

The Union Cabinet, chaired by Hon’ble Prime Minister Shri Narendra Modi has approved the signing of the Memorandum of Cooperation (MoC) on Sustainable Urban Development between the Ministry of Housing & Urban Affairs, Government of India, and the Ministry of Land, Infrastructure, Transport and Tourism, Government of Japan, in supersession of existing MoU of 2007 on Urban Development.

Mini Insights

Mains GS2 – International Relations

Significance of MoC between India and  Japan:
  • The MoC will promote strong, deep, and long-term bilateral cooperation in the field of Sustainable Urban Development between the two countries.
  • The MoC is expected to create employment opportunities in the areas of sustainable urban development, including Urban Planning, Smart Cities Development, Affordable Housing, (including rental housing), Urban Flood Management, Sewerage, and Waste Water Management, Urban Transport (including Intelligent Transport Management System, Transit-Oriented Development and Multimodal Integration) and Disaster Resilient development.
  • The proposed MoC will enable the exchange of key learnings and best practices in the above-mentioned areas.

Click here to view the official PIB release.

2. SWASTIIK technology – Safe and Healthy drinking water

News Summary

Scientists, Dr. VM Bhandari and his group at CSIR-NCL Pune, with support from the Water Technology Initiative of the Department of Science and Technology (DST), Government of India, have developed the novel hybrid technology using Modern technology and Indian traditional knowledge called ‘SWASTIIK’.

Prelims GS – Science & Technology

SWASTIIK:
  • SWASTIIK is a novel hybrid technology to disinfect water.
  • SWASTIIK involves boiling a liquid as a result of pressure reduction (cavitation) and also uses natural oils having antimicrobial properties.
  • This technology can eliminate harmful bacteria, including antimicrobial-resistant bacteria, economically.
  • Besides integrating Indian traditional knowledge of Ayurveda for complete disinfection of water, this method may offer possible health benefits of natural oils.
  • The novel strategy of SWASTIIK (Safe Water and Sustainable Technology Initiative from Indian Knowledgebase) can have significant benefits in terms of providing SAFE WATER and also possible health benefits that can also boost immunity, an important aspect as underlined in the current COVID-19 era.
  • The technique used —hydrodynamic cavitation combines chemistry, biology, and chemical engineering along with natural resources in the form of natural oils and plant extracts.
  • The process, which draws inspiration from Indian traditional knowledge, has resulted in increased efficiency and reduced cost of water treatment.

Click here to view the Courtesy: Official PIB release.

3. MoU between India and Argentina in the field of Mineral Resources

News Summary

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi has approved the Memorandum of Understanding (MoU) to be signed between the Ministry of Mines, Government of India, and the Secretariat of Mining Policy of the Ministry of Productive Development of the Argentine Republic.

Mini Insights

Mains GS2 – International Relations

Significance of MoU between India and Argentina:
  • The MoU will provide an institutional mechanism for cooperation in the field of Mineral Resources.
  • The objectives of the MoU are to strengthen the activities involved like
    • cooperation for encouraging minerals exploration and development, including extraction, mining, and beneficiation of lithium;
    • possibilities of forming joint venture in the field of base metals, critical and strategic minerals for mutual benefit;
    • exchange of technical and scientific information and interchange of ideas and knowledge;
    • training and capacity building; and
    • promotion of investment and development in the area of mining activities would serve the objective of innovation

Click here to view the Courtesy: official PIB release

4. Base Erosion and Profit Shifting(BEPS)

News Summary

There is a mention of BEPS in a piece of political news today.

Prelims GS – World News/Economic Development

BEPS:
  • Base erosion and profit shifting (BEPS) refers to tax planning strategies used by multinational enterprises that exploit gaps and mismatches in tax rules to avoid paying tax.
  • Developing countries’ higher reliance on corporate income tax means they suffer from BEPS disproportionately.
  • BEPS practices cost countries USD 100-240 billion in lost revenue annually.
  • Working together within OECD/G20 Inclusive Framework on BEPS, over 135 countries and jurisdictions are collaborating on the implementation of 15 measures to tackle tax avoidance, improve the coherence of international tax rules and ensure a more transparent tax environment.
  • The BEPS package provides 15 Actions that equip governments with the domestic and international instruments needed to tackle tax avoidance.

Click here to know more about BEPS on the official website.

 

 

 

 

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