16-Oct-2023-Daily-Current-Affairs

NEW INVESTMENTS SLOWED AGAIN IN Q2 OF 2023-24: SURVEY

GS 3 (ECONOMY): SOURCE – THE HINDU

Fresh investments in India slowed during the second quarter of 2023-24, with significant declines in both government and private sector investment announcements. This dip in investment is attributed to various factors, including reduced proposed outlays by the government and foreign investors, as well as contraction in manufacturing, mining, infrastructure, and electricity sectors.

Factors Leading to Investment Slowdown:

Reduced Investment Intentions:

• New investment announcements in Q2 2023-24 decreased by 13% compared to Q1.
• The year-on-year decline was even more significant at 5%.

Private Investment Contractions:

• Private investment plans saw a 0.24% contraction in Q2.
• Foreign investors’ announcements fell by 66.5%, whereas domestic private players increased outlays by 17.8%, but the number of new projects decreased.

Government Investment Contraction:

• Government investments, which had been driving the investment cycle, also witnessed a slowdown in the first two quarters.
• New projects from Union government agencies dropped by 47.4% in Q2.

Mixed Outlook for the Future:

• With state elections approaching and global economic risks increasing, the investment outlook for the second half of the year is uncertain.
• The hope for an uptick in Q3 and Q4 largely depends on increased project announcements from the Union government in preparation for the upcoming general election.

Conclusion:

The decline in fresh investments during Q2 2023-24 raises concerns about economic growth and development in India. Government and private sector efforts will be crucial in revitalizing the investment landscape and fostering economic recovery.

TROPICAL CROPS AT RISK FROM POLLINATOR LOSS DUE TO CLIMATE CHANGE, SHIFT IN LAND USE, FINDS STUDY

GS 3 (ENVIRONMENT): SOURCE – DOWN TO EARTH

A recent study led by researchers from the University College London and the Natural History Museum raises a critical alarm about the decline in insect pollinators and the impact on tropical crops. The study indicates that tropical crops like coffee, cocoa, watermelon, and mango are at risk due to a 61% decrease in insect pollinators. Climate change and shifts in land use, such as habitat destruction and high pesticide usage, are identified as the primary factors driving this decline.

Challenges to Tropical Crops:

       Pollinator Decline in the Tropics:

• Insect pollinators in tropical regions have reduced by 61%.
• High dependence of tropical crops on these pollinators.

       Driving Factors:

• Habitat destruction.
• Improper land-use practices, including grazing and monoculture farming.
• Excessive pesticide use.

Global Impact and Vulnerable Regions:

       Most Affected Regions:

• Sub-Saharan Africa, South America, and Southeast Asia are at the highest risk.
• China, India, Indonesia, Brazil, and the Philippines face significant production risks.

Crop-Specific Risks:

• Cocoa production is most vulnerable, particularly in
• Mango faces risks, especially in
• Watermelon production is at risk, notably in China.

Conclusion:

The decline of insect pollinators poses a severe threat to tropical crop production, impacting the livelihoods of small-scale farmers. Urgent global action is needed to address climate change, land use changes, and habitat protection to ensure the survival of these crucial pollinators and safeguard food security and economic stability.

VIZHINJAM PORT ON MARITIME MAP WITH BERTHING OF FIRST SHIP

GS 3 (ECONOMY): SOURCE – THE HINDU

The Vizhinjam International Seaport in Kerala welcomed its first ship, the Zhen Hua 15, marking a significant milestone in the maritime history of the state. The event was celebrated with great enthusiasm, as the port is set to transform Kerala’s economic landscape.

Vizhinjam’s Strategic Significance:

• Vizhinjam’s strategic location, close to an international shipping route, positions it as Kerala’s largest private port.
• The port’s proximity to major global routes connecting Europe, the Persian Gulf, and the Far East is expected to make it a vital contributor to Kerala’s revenue.

Green and Innovative Port:

• Vizhinjam is set to become India’s first semi-automated container terminal and a global bunkering hub for clean fuels like hydrogen and ammonia.
• The port’s commitment to environmental sustainability aligns with Kerala’s eco-conscious ethos.

Conclusion:

The berthing of the Zhen Hua 15 symbolizes a promising future for Vizhinjam International Seaport, highlighting its role as a catalyst for Kerala’s economic growth and development, despite challenges and international interests.

DEEP-LEARNING HELPS CLASSIFICATION OF TUMOURS DURING SURGERY

GS 3 (SCIENCE AND TECHNOLOGY): SOURCE – THE HINDU

The study published in Nature underscores a groundbreaking development in medical technology that can revolutionize the diagnosis and treatment of central nervous system (CNS) tumors during surgical procedures. This innovation leverages deep learning and rapid sequencing, particularly nanopore sequencing, to enable molecular diagnoses in under 90 minutes. It offers a promising pathway to enhance surgical decision-making and improve patient prognosis in CNS tumor cases.

Challenges in CNS Tumor Treatment

• Primary Treatment Complexity: The treatment of CNS tumors predominantly necessitates surgical removal, a complex process demanding a delicate balance between complete tumor eradication and minimizing the risk of neurological damage and complications.
• Limitations of Current Methods: Existing practices rely on preoperative imaging and histological analysis during surgery. However, these methods aren’t always conclusive and occasionally yield inaccurate results.

DNA Sequencing for Molecular Insights

• Uncovering DNA Methylation Profiles: DNA sequencing, especially for revealing DNA methylation profiles, holds potential for delivering crucial insights into a tumour’s origin and prognosis. Unfortunately, traditional sequencing techniques are time-consuming, taking several days to produce results.

Nanopore Sequencing: A Rapid Solution

• Addressing Timeliness: To address the need for expedited molecular diagnosis during surgery, researchers have turned to nanopore sequencing. Although it provides faster results, it generates data covering fewer genetic sites compared to conventional sequencing methods.

Deep Learning Empowered by ‘Sturgeon’

• Development of Sturgeon: In response to the sparse data generated by nanopore sequencing, researchers introduced ‘Sturgeon,’ a neural network tool designed for molecular sub-classification of CNS tumors. It is transfer-learned and patient-agnostic.
• Validation and Testing: After rigorous validation with simulated data, Sturgeon was applied to real CNS tumor samples. Impressively, it accurately classified 45 out of 50 samples within just 20-40 minutes.
• Real-Time Application: The authors successfully employed Sturgeon during 25 surgeries, achieving a diagnostic turnaround time of less than 90 minutes. Among these, 72% of the diagnoses were correct, affirming the potential of machine-learned diagnosis during surgery.

NAVRATNA STATUS

GS 3 (ECONOMY): SOURCE – PIB

• IRcon International Limited (IRCON) and RITES Ltd, both Central Public Sector Enterprises under the Ministry of Railways, have achieved ‘Navratna’ status.
• This prestigious classification empowers them to invest up to Rs 1,000 crore without explicit government approval.
• Criteria for Navratna status include being Miniratna I, obtaining ‘excellent’ or ‘very good’ MoU ratings in three of the last five years, and maintaining a composite score of 60 or above in specific performance indicators.
• This status is conferred by the Ministry of Finance, enhancing financial autonomy for these enterprises.

TEA INDUSTRY IN ‘ACUTE FINANCIAL CRISIS’, SAYS INDIAN TEA ASSOCIATION IN A REPORT

GS 3 (ECONOMY): SOURCE- THE HINDU

The Indian Tea Association (ITA), a leading body of tea planters has released a status paper titled ‘Tea scenario 2023’.

Issues faced by the Tea Industry in India:

• Tea Prices: Over the past decade, the tea industry has been grappling with an annual increase in tea prices of about 4%. This is a significant challenge for tea producers as it affects their profitability. In contrast, the costs of critical inputs like coal and gas have increased by nearly 9-15% each year during the same period. This price-cost imbalance can squeeze profit margins.
• Surplus Tea Production: The Tea Industry has witnessed a substantial increase in tea production, primarily due to the emergence of small tea growers. While this growth in production might seem positive, it has led to an oversupply of tea. Domestic consumption and exports have not grown at a pace that can absorb this surplus, creating a situation of excess tea, which can depress prices and hurt the industry’s sustainability.
• Decline in Tea Exports: Although there was an improvement in tea exports in 2022, the first seven months of 2023 witnessed a drop in tea exports. This decline can be attributed to a significant reduction in tea exports to Iran, which historically accounted for nearly 20% of India’s tea exports. Any such decline in a major market can have adverse effects on the Indian tea industry’s overall revenue and sustainability.

SEBI MODIFIES ANTI-MONEY LAUNDERING DIRECTIVES:

GS 3 (ECONOMY): SOURCE – THE EONOMIC TIMES

• The revised guidelines stipulate that individuals holding a 10% stake in a company will now be classified as beneficial owners, whereas the previous threshold was set at 15%.
• The Principal Officer is designated as a central focal point responsible for streamlining the reporting of suspicious transactions to relevant authorities.
• Details encompassing the names, titles, and addresses of the ‘Principal Officer’ must be communicated to the Financial Intelligence Unit – India (FIU-IND).
• FIU-IND holds the responsibility of harmonizing the collaborative efforts of intelligence, investigative, and enforcement agencies to combat money laundering and the financing of terrorism. It operates under the purview of the Ministry of Finance.