1 Current Affairs of June 2018 – Top five News in the Month
- 1.0.1 Jaitapur nuclear plant: France’s EDF and GE sign deal to build 6 nuclear reactors.
- 1.0.2 Key Facts
- 1.0.3 Jaitapur Nuclear Power Plant
- 1.0.4 Key Facts
- 1.0.5 3rd Annual Meeting of AIIB held in Mumbai
- 1.0.6 Key Facts
- 1.0.7 Asian Infrastructure Investment Bank (AIIB)
- 1.0.8 Van Dhan Scheme
- 1.0.9 Anant Barua appointed as whole-time member of SEBI
- 1.0.10 Securities and Exchange Board of India (SEBI)
As the month of June 2018 has been going soon , we have come with all the highlights of the News which came in the month of June.So we are going to start with this soon. If you are going to study for the competitive exams. then this will be a revision for you in this.
Current Affairs of June 2018 – Top five News in the Month
Jaitapur nuclear plant: France’s EDF and GE sign deal to build 6 nuclear reactors.
There is an agreement made between the French state-run power utility EDF and American conglomerate General Electric (GE) with the State-run Nuclear Power Corporation of India (NPCIL) to build for construction of 6 EPR (European Pressurized Reactors) type nuclear reactors of capacity 1,650 megawatt (MW) each at Jaitapur nuclear plant in Ratnagiri district, Maharashtra.
The strategic co-operation agreement is for the long term. The construction of conventional island on the six reactor units of jaitapur nuclear plants. The GE power design the island for the plant and to suply the main components. The EDF supply will be technologically responsible for the building of industrial partners for this project. It will be responsible for engineering integration covering entire project (nuclear island, conventional island and auxiliary systems) and will provide all the requisite input data.
Jaitapur Nuclear Power Plant
It has been predicted that 9900 MW nuclear plant at Madban village of Ratnagiri ditrict in Maharashtra. This state run power corporation of Indian (NPCIL) is the builder and operator of this plant. This will be built under the Indo-France Civil Nuclear Deal signed in December 2010.
This plant will have 6 EPR and is developed by Areva of France each of 1450 MW thus is totals of 9900 MW. EPR is the third generation pressurized water reactor. The cost of this project is estimated as US $15 billion (Rs. 1,000 billion). The consortium of French financial institute will be financing this project as a loan.
The Layout of this nuclear power plant is based on two major parts i.e. Nuclear island and the conventional turbine island. The nuclear island is in the shape of heart and the conventional turbine key component extracts thermal energy from the pressurized steam and converts it into electrical energy.
After the project will be complete , the Jaitapur power plant would be the world’s largest nuclear power generating station by net electrical power rating. This will also play a very prominent role in the Union Government’s ambitious target of 22,480 mw nuclear power generation capacity by 2031 target.
Global Environment Facility (GEF) : India increase grant from $12 million to $15 million
India announced to increase the Global Environment Facility’s (GEF) new four-year investment cycle, known as GEF-7 from $12 million to $15 million. It was also seen that the meeting of GEF council meeting held in Da Nang, vietnam and also approved $4.1 billion replenishment of GEF-7.
The increased financial commitment of India is playaing a crucial role to mitigate the climate change and the other environment challenges across the world. India is now the most vulnerable countries to the climate change is also a donor and recipient of GEF.
Since the GEf was started , India was a leading development country in the GEF and it also playing a major role in the GEF. India is both donor and recipient of GEF.
The meeting council of GEF is followed by the sixth GEF Assembly (June 27-28) , which meets after every four years. It has expected to have 12,00 participants which includes heads of the state environment ministers, United Nations (UN), NGOs and business leaders.
3rd Annual Meeting of AIIB held in Mumbai
The third annual meeting of Asian Infrastructure Investment bank (AIIB) concluded in Mumbai in the optimistic note to lend the raise of lending capacity. to boost capacity and security in Asia. The meeting was jointly organised by Department of Economic Affairs under Union Finance Ministry and AIIB.
The theme of third meeting was ‘Mobilising Finance for Infrastructure: Innovation and Collaboration’. The meeting was attended by 3,000 delegates from 86 member countries of AAIB. It was held on high note to improve the connection within region and in turn enable the citizen in the region to reach the potential and security. There were so many sessions that were discussed for the critical issues pertining to the environment , low carbon emissions, connectivity through railway network across borders among several others.
The governors of AIIB board annual meeting was held in bejing , china in 2016. The second was in Jeju, South Korea in 2017. The foruth annual meeting was held in Luxembourg in Jlu 2019. Luxembourg is a founding member of AIIB. It is also leading international financial center in Europe and facilitator of investments between Europe and Asia.
Asian Infrastructure Investment Bank (AIIB)
AIIB is a multi-lateral developement bank starrted by China. It was aimed to provide finance to infrastructure development and regional connectivity projects in Asia-Pacific region. It has been seen as Asia’s response to west dominated Asian Development Bank (ADB) and World Bank (WB).
AIIB was established in December 2015. It was aimed to improve the social and economic outcomes in Asia and beyond and open the business in 2016 January. The headquarter is in Beijing, China. It was made to boost economic development in Asia-Pacific region, provide infrastructure, and promote regional cooperation and partnership. It priorities investments in energy, power generation, transport, rural infrastructure, environmental protection and logistics in Asia.
As it has 86 members including India (US is not the member of AIIB but it has Canada, Germany, UK, Australia and South Korea). It has an authorized capital of US $ 100 billion. China is the bigest share holder with 26% of voting shares. India is the second largest voter i.e. 7.5%. After they are followed by the Russia, Germany and South Korea.
It was proposed to set up 3000 Van dhan Kendra including 30,000 Self Help Groups (SHGs) across the country under its Van Dhan Scheme.It also aimed to empower the tribes and provide them skill up gradation and capacity building training for value addition of forest produce for modernizing traditional tribal-rural economic system.
Van Dhan Scheme
This scheme was launched by the PM on 14th April 2018. The celebrations were made at Bijapur Chattisgarh. They aims to target the livelihood of generations for the tribals by harnessing non timber forest produces. This is called as the true wealth of forest (Van Dhan). It will also provide the skill up gradation and capacity building training for value addition of foreest produce. Value addition will ensure the remunerative prices to tribal.
It aims to build upon the raditional knowledge and skill sets of tribals by adding technology and IT for the value addition. It works to promote the MFP centric livelihood development of tribal gatherers and artisans. It also promotes and leverage collective strength of tribses to achive a common goal.
The implementation is to be done by the Ministry of Tribal Affairs at Central Level and Tribal Cooperative Marketing Development Federation of India (TRIFED) as nodal agency at national Level by providing training and tech support. The state nodal agency for MFP and disrict collectors will play the pivot role in the scheme implementation at grass root level.
Van Dhan Vikas Kendra:
TRIFED will also establish the MFP led multi purpose kendras pre dominantly forested tribal districts. The centres are cluster of 10 SHG comprised of 30 tribal MFP gatherers each. They will also provide the skill up-gradation and capacity building training and setting the primary processing and value addition facility.
Locally these kendras are managed by Managing committees consist of representative of Van Dhan. The big corporates also helping in secondary level value addition at district level and tertiary level value facility at state level under the PPP model.
Anant Barua appointed as whole-time member of SEBI
Securities and Exchange Board of India (SEBI)
SEBI is a statutory regulatory for the securities in India established in 1988. It was given powers through the tSEBI Act , 1992. It works to protect the interests of investors in securities , promote the development of securities market and to regulate the market securites. The head quarter of SEBI is in Mumbai, Maharashtra.
SEBI is working for three groups which is consisting of market, issuers of securities, investors and market intermediaries.
Functions of SEBI quasi Legislative functions
- drafts regulations in its legislative capacity
- quasi-judicial (passes rulings and orders in its judicial capacity)
- quasi-executive (conducts investigation and enforcement action in its executive function).
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