Current Affairs Explained (22ndJune 2024)

This blog analyzes key current affairs from June 22, 2024, covering a range of topics including technology, environment, governance, and international relations. Our aim is to provide a comprehensive overview of important developments and their potential impacts.

Current Affairs Analysis:

1. Topic: Science & Technology

Headline: India's DeepTech Startup Ecosystem Shows Promise Despite Challenges

Why in the News: NASSCOM released a report titled 'India's Deeptech Dawn: Forging Ahead' highlighting the attributes of DeepTech startups in India.

Historical Background: India has been actively promoting startups, particularly in the technology sector, through various initiatives like Startup India since 2016.

Key Points:

• India ranks 6th among the top 9 deep-tech ecosystems globally, with over 3,600 deep-tech startups.
• Indian deep-tech startups raised $10 billion in funding from 2019 to 2023.
• 2023 witnessed a 77% decline in funding compared to 2022.
• The government has introduced initiatives like the Draft National Deep Tech Startup Policy (2023) and Technology Incubation and Development of Entrepreneurs (TIDE 2.0).

Significance: The growth of deep-tech startups can potentially revolutionize sectors like healthcare and agriculture, contributing to India's technological advancement and economic growth.

2. Topic: Environment

Headline: Global Environment Facility Approves $736.4 Million in Funding for Environmental Projects

Why in News: The 67th Global Environment Facility (GEF) Council approved $736.4 million in funding for various environmental projects.

Historical Background: The GEF was established in 1992 during the Rio Earth Summit to address global environmental challenges.

Key Points:

• Funding was mobilized from the GEF Trust Fund, the Least Developed Countries Fund, and the Global Biodiversity Framework Fund.
• Projects include the Great Green Wall (GGW) in Africa and the Sustainable Cities Integrated Program (SCIP).
• Two Indian projects were approved: enhancing biodiversity conservation and sustainable management of wetlands, forests, and grasslands.
• GEF serves as a financial mechanism for five major environmental conventions.

Significance: This funding can significantly boost global efforts in biodiversity conservation, climate change mitigation, and sustainable urban development.

3. Topic: Governance and Human Rights

Headline: NHRC Issues Notice to Odisha Government on Custodial Death

Why in News: The National Human Rights Commission (NHRC) sent a notice to the Odisha government demanding an explanation for not paying recommended compensation to the kin of a person who died in custody.

Historical Background: Custodial deaths have been a persistent human rights issue in India, with over 660 cases reported between 2017 and 2022.

Key Points:

• Gujarat reported the highest number of custodial deaths (80), followed by Maharashtra.
• Constitutional safeguards include Articles 14 and 21.
• Legal provisions include Sections 330 and 331 of the IPC and Section 176 of the CrPC.
• NHRC guidelines (1993) call for reporting custodial death or rape within 24 hours.

Significance: This case highlights the ongoing challenges of preventing custodial violence and ensuring accountability in law enforcement agencies.

4. Topic: Economy

Headline: RBI Revises Priority Sector Lending Norms to Address Regional Disparities

Why in the News: The Reserve Bank of India (RBI) has amended the Master Directions on Priority Sector Lending (PSL), introducing new guidelines to address regional disparities in credit flow.

Historical Background: PSL was formalized in 1972 to facilitate credit flow to sectors that are creditworthy but struggle to access formal financial institutions.

Key Points:

• Districts will be ranked based on per capita credit flow to the priority sector.
• Higher weight (125%) for districts with lower credit flow and lower weight (90%) for districts with higher credit flow.
• New guidelines are effective from FY 2024–25 to FY 2026–27.
• All bank loans to MSMEs now qualify for classification under PSL.
• PSL targets vary: 40% for scheduled commercial banks and foreign banks, 75% for RRBs and SFBs, and 65% (increasing to 75% by FY 2025-26) for UCBs.

Significance: These revised norms aim to promote more equitable credit distribution across regions and support the growth of MSMEs, potentially boosting economic development in underserved areas.

5. Topic: Governance and Law

Headline: Patna High Court Strikes Down Bihar Reservation Laws

Why in News: The Patna High Court has set aside Bihar's reservation laws that enhanced reservations for SCs, STs, and backward classes to 65% from the existing 50%.

Historical Background: The 50% ceiling on reservations was established by the Supreme Court in the Indra Sawhney case (1992).

Key Points:

• HC termed the amendments violative of Articles 14, 15, and 16 of the Constitution.
• The court found that reservations were based on mere population proportion without proper analysis.
• Key judgments on reservation include the Indra Sawhney Case (1992), the M. Nagaraj Case (2006), and the Jarnail Singh Case (2018).
• The Janhit Abhiyan case (2022) upheld the validity of the 103rd Constitutional Amendment for the EWS reservation.

Significance: This ruling reinforces the importance of adhering to constitutional principles and Supreme Court guidelines when implementing reservation policies.

6. Topic: Agriculture and Biotechnology

Headline: The New Gene Revolution is Driving the Development of GM Crops

Why in News: Gene editing tools like CRISPR are driving a new gene revolution, allowing for the development of new varieties of genetically modified (GM) crops.

Historical Background: Bt cotton is currently the only GM crop approved for commercial cultivation in India, with several others in various stages of research and field trials.

Key Points:

• GM crops are expected to enhance food security and improve nutritional content.
• Potential benefits include increased crop yield, resistance to extreme weather, and carbon capture.
• Concerns include pest resistance buildup, monopoly of intellectual property, and monoculture farming.
• In India, GM crops are regulated under the Environment Protection Act (1986).
• The Genetic Engineering Appraisal Committee (GEAC) is responsible for appraising GM crop proposals.

Significance: The development of GM crops could potentially address food security challenges and climate change impacts on agriculture, but it requires careful regulation and risk assessment.

Conclusion: The current affairs of June 22, 2024, also highlight important developments in economic policy, reservation laws, and agricultural biotechnology. These issues underscore the complex interplay between technological advancement, legal frameworks, and socio-economic development in India.