Addapedia Odisha | Daily Current Affairs | 02 July 2024

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Addapedia Odisha – Daily Current Affairs – 02 July 2024

National and International News
Project Nexus	Why in the news? The Reserve Bank of India (RBI) has joined Project Nexus. About Project Nexus: Initiative: Project Nexus is a multilateral international initiative. Objective: To enable instant cross-border retail payments by interlinking domestic Fast Payments Systems (FPSs). Key Participants: India (Unified Payments Interface – UPI) Malaysia The Philippines Singapore Thailand Functionality: Interlinking of domestic Fast Payments Systems (FPSs) to facilitate real-time cross-border retail payments. Aimed at providing a seamless and instant payment experience across participating countries.
16th Finance Commission	Why in the news? The 16th Finance Commission (FC) has begun its work focusing on the devolution of the consolidated fund. Following the 73rd and 74th constitutional amendments, local bodies such as panchayats and municipalities have gained significant recognition, with sub-clauses 280(3)(bb) and (c) mandating the FC to recommend measures to augment state consolidated funds for these bodies. About 16th Finance Commission: Establishment: The 16th Finance Commission of India is expected to be constituted by the President of India in the year 2024. Objective: The primary objective of the Finance Commission is to recommend measures and methods for distributing tax revenues between the central government and the states, as well as among the states themselves. Constitutional Basis: It is established under Article 280 of the Indian Constitution, which mandates the formation of a Finance Commission every five years. Chairperson: The Sixteenth Finance Commission was constituted on 31.12.2023 with Shri Arvind Panagariya, former Vice-Chairman, NITI Aayog as its Chairman. A chairperson appointed by the President of India. Members: Along with the chairperson, the Commission will consist of four other members with expertise in finance, economics, and administration.
Project-76	Why in the news? The Defence Research and Development Organisation (DRDO) is conducting a preliminary study for the design and development of an indigenous conventional submarine under Project-76. About Project-76: Design and Development: The Warship Design Bureau of the Indian Navy is designing and developing India’s first indigenously conventional diesel-electric submarine under Project 76. Envisioned as air-independent propulsion (AIP)-equipped diesel-electric attack submarines. Submarines are expected to have a submerged displacement of 3,000 tons. Construction Plan: The Indian Navy plans to build 12 submarines under Project 76. Construction of the prototype is aimed to start by 2028. Technological Advancements: Advanced features include an indigenous Weapon Control system and Lithium-ion batteries. Represents a leap beyond foreign-designed predecessors like Project-751 (India) and Project-75 submarines. Integrates top-tier French technology from Project 75 and expertise from German/Spanish collaboration in Project 751 (India).
eSankhyiki Portal	Why in the news? The Ministry of Statistics and Programme Implementation (MoSPI) Launches eSankhyiki Portal for Enhanced User Experience and Ease of Data Access. About eSankhyiki Portal: Objective: Establish a comprehensive data management and sharing system for easy dissemination of official statistics in the country. Provide real-time inputs for planners, policy-makers, researchers, and the public. Launch: Officially launched on Statistics Day. Theme Alignment: Aligns with the Statistics Day theme: ‘Use of data for Decision making.’ Facilitates evidence-based decision-making through ease of data access. User-Centric Design: Enables use and reuse of information for creating impact through value addition and analysis by users.
Agriculture Infrastructure Fund Scheme and Krishi Katha Platform	Why in the news? The Union Minister for Agriculture and Farmers’ Welfare and Rural Development has launched a web portal to expedite bank settlements of interest subvention claims under the Agriculture Infrastructure scheme. Additionally, he introduced the Krishi Katha blog site to amplify the voices of Indian farmers. About Agriculture Infrastructure Fund Scheme: Launch Year: 2020 Objective: Development of post-harvest management infrastructure to reduce losses. Realisation of better value for farmers. Promotion of innovation in agriculture. Attracting investments for creating agricultural infrastructure. Total Outlay: ₹ 1 lakh crore funding through banks and financial institutions up to 2025-26. Benefits: About Krishi Katha Platform: Objectives: Raise awareness about farming issues and solutions. Facilitate the exchange of knowledge among farmers. Foster collaboration within the agricultural community. Empower farmers through shared experiences and success stories.

Odisha Specific News
Odisha to Add 100 MW of Green Energy	Context: Odisha is set to significantly boost its renewable energy capacity by adding over 100 MW of green energy. Key points: The State’s Single Window Committee (SWC) approved two major wind energy projects. Wind Energy Projects HPCL Project: 48 MW wind energy project Location: Umerkot, Nabarangpur district Investment: Part of the total ₹881.28 crores ONGC Tripura Power Company Project: 49.5 MW wind energy project Location: Astaranga, Puri district Investment: Part of the total ₹881.28 crores Ongoing Investments: Total Investments Approved: Under the Odisha Renewable Energy Policy, 2022, SWC has approved proposals totaling ₹3,723.57 crores. Total Capacity: Approved investments will contribute to 499.48 MW capacity in the renewable energy sector.
Lok Adalats	Context: The Orissa High Court has emphasized that Lok Adalats should focus on conciliation rather than acting as regular judges. This guidance came while quashing an award given by a Permanent Lok Adalat regarding the installation of coach indication boards at Balangir railway station. About: Lok Adalat, which translates to “People’s Court,” is an alternative dispute resolution (ADR) mechanism in India. It operates based on Gandhian ideals, emphasizing informal, swift, and cost-effective justice. The system aims to settle disputes outside formal courts, providing an accessible avenue for resolving grievances. Formation and Types: Lok Adalats are statutory bodies established under the Legal Services Authorities Act, 1987. They operate at various levels: Permanent Lok Adalat (PLA): Handles cases related to public utility services (e.g., transport, postal, telegraph). National Lok Adalat: Conducted monthly across India, focusing on specific topics and clearing pending cases. Mega Lok Adalat: Held statewide on a single day, addressing cases from all courts. Mobile Lok Adalats: Travel across the country to resolve disputes. Jurisdiction: Lok Adalats can address: Cases pending in any Indian court. Criminal offenses that are compoundable. Matters related to recovery of money, motor vehicles, labor disputes, and public utility bills (excluding non-compoundable offenses). Pre-litigation disputes
Palm Trees	Context: Odisha’s government, led by PCCF Debidutta Biswal, aims to prevent lightning-related deaths by reintroducing traditional methods involving palm trees. Key points: Palm trees are effective conductors during lightning strikes, reducing casualties, prompting the government’s decision in September 2023. The Forest Department plans to plant 19 lakh palm trees in 2024-25, spending Rs 7 crore, with four trees per forest block boundary. Permission from the Forest Department is now required to cut down palm trees on private property, with strict penalties for violations. Initially, this requirement was lifted, leading to a decline in rural palm tree populations. Due to increased lightning fatalities in the northwesterly and rainy seasons, the government reinstated the permission rule to protect palm trees and enhance public safety.
Railways to invest ₹1 lakh crore in Odisha in next five years	Context: Railway Minister Ashwini Vaishnaw announced a significant investment of ₹1 lakh crore in Odisha over the next five years for new railway projects. Key points: Under the Modi government, railway budget allocations for Odisha have increased significantly from ₹800 crore to over ₹10,000 crore annually. In the past decade, Odisha has seen the construction of 1,826 km of new railway lines, exceeding Sri Lanka’s total railway network. For the Rath Yatra in Puri, Vaishnaw announced plans for 315 special trains from 25 districts of Odisha, up from 222 trains the previous year. He also proposed setting up an electronic manufacturing cluster and a semiconductor training center in Odisha.

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