Daily Current Affairs September 3, 2024 - Copy

1. DAILY CURRENT AFFAIRS 3 SEPTEMBER 2024 Mains ( International Relations ) India-Russia Strategic Partnership, 2000 India-Russia Bilateral Relation ● Both countries signed the “Declaration on the Context India-Russia Strategic Partnership”in October 2000. Recently, the Indian Prime Minister visited ● After this declaration, India-Russia ties have Russia amid the Russo-Ukraine War triggering acquired a qualitatively new character with enhanced controversy in the Geo-Political arena. levels of cooperation in almost all areas, including About politics, security, defense, trade and economy, science & technology, culture, and people-to-people ties. From the outbreak of the Indo-Pakistan War in 1971 to ● In 2010, this Strategic Partnership was elevated Kargil, from technology transfers to space missions and to the level of “Special and Privileged Strategic from arms suppliers to strategic partners on global Partnership.” forums, Russia has been a longstanding and time-tested partner for India. Hence, the development of India- Defence & Security Cooperation Russia relations has been a key pillar of India's foreign ● India has longstanding and wide-ranging policy. Indo-Russian partnership in geopolitics is the cooperation with Russia in the field of defence. Russia is lamppost of cooperation and is rarely seen bond in the one of the largest suppliers of defence equipment from global arena. This relationship flourished after India’s India. Independence in 1947 and continued till the ● Bilateral Military Exercises: India & Russia disorganization of the USSR and its aftermath till today. participate in bilateral and multilateral military exercises across the three services. The bilateral exercise INDRA was last held in 2021. Both countries also participate in multilateral exercises such as Vostok 2022 held in September 2022 in Russia. ● Bilateral Defence Projects: Bilateral projects in India include the supply of S-400, licensed production of

2. ● T-90 tanks and Su-30 MKI, supply of MiG-29 and There are a huge number of Indian students in Kamov helicopters, INS Vikramaditya (formerly Russia who are enrolled in various courses in disciplines such as engineering, economics, sciences and other Admiral Gorshkov), production of Ak-203 rifles in India and BrahMos missiles. subjects. ● ● Medical students are the largest group among Further, India-Russia military-technical cooperation has evolved over time from a buyer-seller Indian students studying in Russia. ● framework to one involving joint research and Indology, Indian languages such as Hindi, development, co-development and joint production of Sanskrit & Pali are taught in various Russian advanced defence technology and systems. Universities. Science & Technology Cooperation Cultural Cooperation ● ● Science & Technology has played a key role in India and Russia have deep and historic cultural the bilateral India-Russia partnership. India & Russia linkages due to people-to-people contacts. ● have been working together on basic sciences, materials Writers like Leo Tolstoy & Alexander Pushkin science, mathematics and cutting-edge areas. had a profound influence on Indian literature and ● Space Missions:Russia’s contribution to thought, especially, Gandhian principles are influenced projects like India’s manned spaceflight program by the philosophy of Leo-Tolstory. ● (Gaganyaan), nanotechnologies and quantum Indian cinema is very popular in Russia with computing has benefitted India immensely. frequent film screenings across the country. ● ● Nuclear Plants:India’s only nuclear power Yoga is also immensely popular and practised plant established with another country (Russia) is the across Russia. Kudankulam Nuclear Plant in Tamil Nadu. Indo-Russia Relationship Amid Russia-Ukraine War ● The bilateral cooperation is guided by the new roadmap for Science, Technology & Innovation signed ● India has constantly followed a policy of non- during the 21st Annual Summit in New Delhi in alignment amid the Russo-Ukraine war and has December 2021. constantly advocated for the resolution of the conflict. ● This summit aims to boost innovation-related ● At the same time, it has continued to buy Russian engagements between the two countries and focus on the Oil amid the Western Sanctions on Russia and continued commercialization of technologies and full-cycle pressure politics by the United States to stop buying support for joint projects of economic and societal ‘Russian Oil’. impact. ● According to the data on Indian shipments from trade and industry, Russian crude made up a record 44% Education of India's overall imports last month, rising to a record

3. Mains Economy 2.07 million barrels per day (bpd), 4.2% higher than in June and 12% more than a year ago. ● India has further accused the Western Countries SJVN, NHPC, RailTel and Solar Energy Corporation of instigating others not to buy Russian Oil while they of India got ‘Navratna’ status from the Central are still involved in buying oil and gas from Russia. Government ● India has further pushed itself as a ‘mediator’ in Context the current conflict and has stressed on a peaceful resolution. Recently, the government elevated the status of SJVN, NHPC, RailTel and Solar Energy Conclusion Corporation of India to Navaratna. The bilateral relationship between the two countries has About remained strong and stable for more than 75 years. Recently, Prime Minister Narendra Modi has been ● The Central government has announced the conferred the highest Russian state honour ie. Order of inclusion of four CPSEs into Navaratna status. These are the Holy Apostle Andrew the First. The India-Russia SJVN, NHPC, RailTel and Solar Energy Corporation partnership is growing stronger with a shared of India. commitment to a multipolar world and continues to ● Central Public Sector Enterprises (CPSEs) have expand beyond the traditional areas of military, nuclear been classified according to their size and other factors and space cooperation. Several connectivity initiatives such as decision-making powers for expenditure and are also increasingly central to the bilateral cooperation investment. between the two countries, especially the International Categorization of Central Public Sector North-South Transport Corridor and the Chennai- Undertakings Vladivostok Eastern Maritime Corridor. India’s strong stance amid the Russo-Ukraine war has further ● The "Ratna" status to various CPSEs has been strengthened the Indo-Russian ties. accorded to give operational freedom and decision- making power to the state-run entities. Sources: Observer Research Foundation, Embassy of ● The CPSEs can decide on certain matters such as India, Moscow investment and new projects without approaching the government until a particular threshold. ● CPSEs have been divided into three categories broadly. These are: 1.Maharatna

4. 2.Navratna 1)They must have a Miniratna-I status and have 3.Miniratna obtained an "Excellent" or "Very Good" MoU rating in three out of the last five years and Miniratna Status 2)It must have a composite score of 60 or more in six selected performance indicators and are The Miniratna status is of two types. Miniratna-I and eligible to be considered for a "Navratna" Miniratna - II. upgrade. These are the six parameters: Miniratna Category-I Status 1)Net Profit to Net Worth 2)Manpower Cost to Total Cost of Production There are certain pre-conditions which must be met by 3)PBDIT to Capital Employed CPSEs to have this status. These are: 4)PBIT To Turnover 1.Those CPSEs which reported profits in three 5)Earnings Per Share consecutive years, 6)Inter-Sectoral Performance 2.These must have a pre-tax profit of ₹30 crore or ● Examples of the "Navratna" CPSEs include more in at least one of the three years, and IREDA, BEL, CONCOR, Hindustan Aeronautics, 3.have a positive net worth are classified as a NALCO, NBCC, NMDC, PFC etc. Miniratna-I PSU. Maharatna Status Miniratna Category-II Status A PSU is granted a "Maharatna" status, in case it meets A CPSE should have fulfilled the following criteria for the following criteria: Mini-Ratna II Status: 1.Should have a "Navratna" status 1.Shown a profit for the last three successive years 2.Should be listed on the Indian stock exchanges and have a positive net worth. 3.Should be compliant with minimum 2.Not defaulted on repayment of loans or interest shareholding norms due to the government. 4.Average annual turnover of more than ₹25,000 3.Need not depend upon budgetary support or crore and average annual net worth of over government guarantees. ₹15,000 crore in the last three years 5.Average annual net profit of over ₹5,000 crore in Navratna Status the last three years along with significant global presence. PSUs must fulfil the following criteria to be a Navaratna ● Examples of such CPSEs are BHEL, BPCL, Status: Coal India, GAIL, HPCL, Indian Oil, NTPC, ONGC etc.

5. New CPSEs in Navartana Category development of conventional and non-conventional sources in India and abroad. Satluj Jal Vidyut Nigam Ltd ● It sells electricity to electricity utilities owned by state governments/private distribution companies on a wholesale basis. ● It is headquartered in Faridabad, Haryana. RailTel ● SJVN Ltd is the largest operational hydroelectric power generation facility in India based on installed capacity. ● It has an aggregate generation capacity of 1912 ● RailTel is a "Navratna" Central Public Sector MW. Enterprise. ● The company has expanded horizons and now ● It is an ICT provider and one of the largest deals in all types of conventional and non-conventional neutral telecom infrastructure providers in the country forms of energy along with Power Transmission. owning a Pan-India optic fiber network. ● This network covers important towns & cities of National Hydroelectric Power Corporation (NHPC) the country and several rural areas. Solar Energy Corporation of India ● NHPC Limited (National Hydroelectric Power Corporation) is a public sector company in India. ● It generates and sells power, and also offers other ● Solar Energy Corporation of India (SECI) Ltd is services the leading CPSU which is dedicated to the development ● It also plans, promotes and organizes the and expansion of Renewable Energy (RE) capacity in development of hydro power plants. India. ● The company also generates electricity using ● It has been named as one of the Renewable hydro, wind and solar sources. It is also involved in Energy Implementing Agencies (REIAs) of India which

6. 2. Consider the following statements with reference is continuously working towards fulfilling these goals to the requirements for elevation to the Maharatna and striving for sustainable development. ● It serves as an implementing agency for the Status : development of Solar, Wind and Hybrid Projects. 1) It must be a Mini ratna company. ● It also helps the country in fulfilling the country’s 2) It Should be listed on the Indian stock exchanges. Nationally Determined Contributions (NDCs). Which of the following statement (s) is/are correct? Sources: CNBC, RailTel, Solar Energy Corporation of India, NHPC, SJVN A.1 only B.2 Only Mains C.Both 1 and 2 D.Neither 1 nor 2 1. “Indo-Russian relationship is a time-tested partnership which has gone through many tests in the Answer: B last seven decades.” Discuss. 3. Consider the following statements with reference Prelims to the National Hydroelectric Power Corporation (NHPC): 1. Consider the following statements with reference 1) It is a Mini-Ratna Company to the requirements for elevation at Navratna Status: 2) It only deals in Hydro Power Projects. 1.The CPSE must be a mini ratna company. 3) It is headquartered in New Delhi. 2.It must have obtained an "Excellent" or "Very Which of the following statement (s) is/are incorrect? Good" MoU rating 3.It must have an Average annual turnover of more A.1 only than ₹25,000 crore. B.1 and 2 Only C.1 and 3 Only Which of the following statement (s) is/are correct? D.1, 2 and 3 A.1 only Answer: D B.1 and 2 Only C.1 and 3 Only D.1, 2 and 3 Answer: B