26th June| Current Affairs News Analysis | Prelims & Mains 2020 |

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Current Affairs News Analysis | Prelims & Mains 2020 | 26th June 2020

Dear Aspirants
IASbhai Current Affairs News Analysis | Prelims & Mains 2020 is an initiative to dilute major articles from leading Newspapers in India which are most relevant to UPSC preparation –‘THE HINDU, LIVEMINT , INDIAN EXPRESS’ and help millions of readers who find difficulty in answer writing and making notes everyday. Hence we choose articles on daily basis and analyse them with respect to UPSC PRELIMS 2020.

“The meaning of life is to find your gift. The purpose of life is to give it away.” –Anonymous

HIGHLIGHT INFO:

ORANGE COLOUR: Important for Prelims.

RED COLOUR: Important for Mains.

BLACK COLOUR: Must Read !

BLUE COLOUR : Important Links/Survey.

PINK COLOUR: Reports/Themes/Summits.

Product Application and Development Centre at Paradip

      HEADLINES:

Shri Dharmendra Pradhan inaugurates Product Application and Development Centre at Paradip, Odisha;

      WHY IN NEWS:

Calls it an important step towards Aatmanirbhar Odisha

MINISTRY? :-Ministry of Petroleum & Natural Gas
SYLLABUS COVERED: GS 3:Resources : Energy

      LEARNING: 

For PRELIMS well this is a new concept to develop innovation and investor friendly ecosystem . Just remember the purpose and place . That would suffice your preparation.

For MAINS what are the demerits of such production hub ? Do you think this can cause migration ?

      ISSUE: 

Minister of Petroleum and Natural Gas & Steel Shri Dharmendra Pradhan along with the Chief Minister of Odisha Shri Naveen Patnaik today inaugurated a Product Application & Development Centre (PADC) setup by Indian Oil at Paradip.  

PRODUCT APPLICATION AND DEVELOPMENT CENTRE

  PADC has been setup by IndianOil at Paradip with a capex of Rs 43 crores, adjacent to its Refinery and Petrochemicals complex.

  • There are 4 laboratories in PADC namely Polymer Processing Lab, Analytical Testing Lab, Chemical Analysis Lab and Characterisation Lab.
  • The Technical centre is equipped with 50 latest sophisticated polymer testing and processing equipment to cater to the needs of customers and new investors.

  PADC will act as incubation centre for new entrepreneur development in and around Odisha in the field of Plastics.
 

The centre will render assistance to customers and investors in product and application development for polymer finished products .

EXAMPLE
  Molded furniture, houseware, wovensacks for packaging cement, fertiliser, healthcare applications like baby diaper, personal protective suit, mask etc.

OTHER ACTIVITIES :

  • The centre will carry out testing and developmental activities for investors of Paradeep Plastic Park and other clusters like Balasore and Khurda.
  • The centre will impart requisite product and process training to the prospective and budding investors including hand holding activities for plant set-up, selection of machinery and material.

      IASbhai WINDUP: 

  • PADC, Paradip is recognized as a research centre by the Department of Scientific and Industrial Research (DSIR), Ministry of Science & Technology, Govt of India.
  • PADC will provide quality assurance, complaint handling, customer support, benchmarking studies, new & niche grade development and application development activities.
     SOURCES:THE HINDU & PIB | Current Affairs News Analysis | Prelims & Mains 2020

 “Money Laundering and the Illegal Wildlife Trade” Report : FATF

      HEADLINES:

FATF report flags wildlife trade

      WHY IN NEWS:

Illegal dealings generate $23 billion a year and have links to arms trade, slavery

SYLLABUS COVERED: GS 3:Reports

      LEARNING: 

This is the first instance where in FATF has made a point ! Let us resolve this.

      ISSUE: 

In its first global report on the illegal wildlife trade, the Financial Action Task Force (FATF) has described it as a “global threat”, which also has links with other organised crimes such as modern slavery, drug trafficking and arms trade.  

ILLEGAL WILDLIFE TRADE REPORT

PUBLISHED BY

The report is based on inputs from some 50 jurisdictions across the FATF global network, as well as expertise from the private sector and civil society.

KEY POINTS

  • The illegal trade is estimated to generate revenues of up to $23 billion a year.
  • The report says a financial investigation is key to dismantling the syndicates involved, which can in turn significantly impact the associated criminal activities.
  • The findings expressed concern over the lack of focus on the financial aspects of the crime.

FRAUD AND TAX EVASION

  • WILDLIFE CRIMES : Criminals are frequently misusing the legitimate wildlife trade, as well as other import-export type businesses, as a front to move and hide illegal proceeds from wildlife crimes.
  • TAX EVASIONS : They also rely regularly on corruption, complex fraud and tax evasion.
  • ONLINE MARKETS : The study has highlighted the growing role of online marketplaces and mobile and social media-based payments to facilitate movement of proceeds warranting a coordinated response from government bodies, the private sector and the civil society.

  The FATF found that jurisdictions often did not have the required knowledge, legislative basis and resources to assess and combat the threat posed by the funds generated through the trade.

      IASbhai WINDUP: 

GOOD PRACTICES

The report noted that in 2012, India amended the Prevention of Money Laundering Act removing a value threshold — of ₹30 lakh and above — that was earlier applicable to the wildlife trade predicates.

     SOURCES:THE HINDU & PIB | Current Affairs News Analysis 

 

DISCOVER MORE : Important Daily Current Affairs for UPSC PRELIMS 2020

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