Daily Prelims Notes 18 May 2022
- May 18, 2022
- Posted by: admin1
- Category: DPN
Daily Prelims Notes
18 May 2022
Table Of Contents
- Seoul Declaration
- Failure to cut GHG emissions is putting species conservation in eastern Himalayas at risk
- Carbon pricing
- On-tap’ licences to set up universal banks and small finance banks
- Export Promotion Organizations
- Defence Minister launches frontline warships Surat and Udaygiri
- Re-imagining museums: Upgradation and Modernisation
- Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS Council)
- The Advertising Standards Council of India (ASCI)
- G-7 likely to increase pressure to reverse wheat export ban
Need to triple investments for restoring degraded land by 2030 according to the “Seoul Declaration”
About Seoul Declaration:
The Declaration focuses on identifying key areas that can help combat multiple crises humanity faces
It was adopted May 5, 2022, at the XV World Forestry Congress, held in Seoul, South Korea.
Declaration, signed by 141 participant countries
About World Forestry Congress:
- Since the first World Forestry Congress was held in Rome in 1926
- And about every six years, the Congress has been providing a forum for inclusive discussion on the key challenges and way forward for the forestry sector.
- In 1954, FAO was entrusted with supporting Congress preparations in close cooperation with the host country and proudly continues to do so today
- The Congress functions are advisory, not executive, and participants attend the Congress in their personal capacity
- Congress is not an intergovernmental meeting; it has neither formal constituencies nor country delegations
Key highlights of the Seoul Declaration:
- Vast areas of degraded land across the globe require restoration.
- The investment in forest and landscape restoration globally must be tripled by 2030 to implement global commitments and meet internationally agreed goals and targets
- The declaration stressed the need to scale up the financial and technical investments and strengthen partnerships and cross-sectoral collaboration.
- The responsibility over forests should be shared and integrated across institutions, sectors and stakeholders in order to achieve a sustainable future.
- Forest-based solutions must be inclusive of the perspectives of family farmers, smallholders, forest communities, indigenous peoples, women and youth and respectful of their rights.
- The solutions must empower them to participate equitably in decision-making and sustainable forest value chains, the document said.
- Production and consumption need to be sustainable and policies should foster innovative green financing mechanisms to upscale investment in forest conservation, restoration and sustainable use
- Healthy, productive forest must be maintained to reduce the risk of, and improve responsiveness to, future pandemics and provide other essential benefits for human physical and mental health.
- The Declaration added that the full potential of sustainably produced wood can be utilised to transform the building sector, along with providing renewable energy and innovative new materials as wood was “renewable, recyclable and incredibly versatile.”
New initiatives taken at the World Forest Congress to boost international cooperation:
- Assuring the Future of Forests with Integrated Risk Management (AFFIRM) Mechanism
- The Sustaining an Abundance of Forest Ecosystems (SAFE) initiative
- The Platform for REDD+ Capacity Building
Other outcomes of the XV World Forest Congress:
- The Seoul declaration, as well as the Youth Call for Action and the Ministerial Call on Sustainable Wood, should be transmitted to the next COP of UNFCCC and the upcoming COP to the Convention on Biological Diversity and to other important forest-related fora.
What is Youth Call of Action
- During World Environment Day on 4th June 2021 a flagship virtual event Organized in partnership with the UN Department of Global Communications (DGC) and the UNEP under the theme Reimagine, Recreate, Restore.
- Youth from different sectors, media personalities, entrepreneurs, and civil society leaders will participate in this virtual event and call to action for our ecosystems
Ministerial call on Sustainable Wood
- Sustainable production and consumption of wood promotes forest conservation, enhances the value of forests and mitigates climate change.
- Sustainable wood offers solutions across multiple value chains, including construction, furniture, packaging, renewable energy, biomaterials for clothing and biochemicals
- Ministerial Call on Sustainable Wood was initiated by Korea, Japan, Austria, Peru, Gabon
Section: Climate Change
- A recent study on Eastern Himalayan protected areas exposed its vulnerabilities to climate change and emphasized the need for conservation
- As much as 36% of 46 protected areas in the eastern Himalayas are highly vulnerable to climate change
- Climatic changes in the past 50 years show up as a 1.3 degree Celsius rise in temperature, a decrease in summer monsoon rainfall and an increase in the frequency of extreme weather events.
- They are most pronounced in protected areas in Sikkim, Arunachal Pradesh, Assam and West Bengal.
- All protected areas (PAs) in the eastern Himalayas shelter at least one species at high risk of global extinction as per IUCN Red List of Threatened Species.
- wildlife corridors and connectivity corridors that enable functional connectivity between these protected habitats are under threat due to human footprint and climate change
- The eastern Himalayan region, is rapidly losing forested habitats, with even many protected tracts under siege from rapacious mining and illegal logging.
- The 47 PAs (80% area of the total PA network) in this region, often embedded in a mosaic of agricultural fields, pasture lands, human settlements and infrastructure.
- The findings have implications for India, party to the Convention on Biological Diversity, amid the push to conserve 30% of Earth’s land and sea areas by 2030 (“30 by 30” plan of the proposed post-2020 Global Biodiversity Framework)
- Mouling National Park, on the bank of the Siang river in Arunachal Pradesh, home to takins, serrows and monals, saw a 1 deg C rise in its average annual temperature and an increase of 1.5 deg C in the average temperature in the coldest season.
- Frog diversity along the Teesta river’s path through the mountains and plains are vulnerable to a wavering climate
- PAs in Assam (Manas, Kaziranga), Arunachal Pradesh (Pakhui wildlife sanctuary- highway construction affects its tiger habitat) and West Bengal (Jaldapara National park – poaching threatened Rhino population )
- High human population density is a major concern for Kaziranga National Park in Assam and Gorumara Wildlife Sanctuary in West Bengal.
- High Population density of forest fringe communities in little forest land or resources were available outside PAs such as in Buxa Tiger Reserve in north Bengal tiger population improved due to conservation activities
Terai needs more attention
- PAs in Terai grassland and forest ecosystems at the foothills and low elevations, such as those in Assam, shelter a high number of threatened species requiring greater conservation efforts and high species vulnerability.
- For example, Manas Tiger Reserve is home to 13 critically endangered, 28 endangered, and 44 vulnerable vertebrate species.
- Others in that league include Kaziranga, Nameri National Park, and Amchang Wildlife Sanctuary.
- A major stronghold of the one-horned rhino, Kaziranga is home to several species like the Bengal tiger, Asian elephant, wild water buffalo, gaur, sambar deer, hog deer, and the hoolock gibbon.
- The Terai’s complexity in Assam also reflects the Bramhaputra river’s dynamic nature and the landscape which is “subject to both montane effects as well as the plains effects and human interactions and high cultural diversity” which has also given rise to conflicts.
What needs to be done?
- the Indian Himalayan region – “needs to be comprehensively managed by ensuring species protection across the entire region”
- Protected areas cannot be viewed in isolation and landscape connectivity is equally important for the dispersal of species.
- “Corridors need to be strengthened and secured through legal mechanisms (as in the case of Bhutan and Europe) and awareness, research and capacity building to secure such areas are needed in the long term
- landscapes outside PAs in central India, the idea of protected areas as “networks” rather than isolated sites is gaining traction in the conservation discourse.
- Ecoregions are areas with similar ecosystems and the same type, quality and quantity of environmental resources.
- While the Global Biodiversity Framework is still evolving, to secure larger areas, the OECM strategy (other effective area-based conservation measures) needs to be acknowledged and implemented at the earliest to formally recognise community conserved areas.
- “India is on a strong wicket given the history of community conserved areas in the Himalayas, it is now time to formally recognise and strengthen such shared governance mechanisms
Section: Climate Change
What is carbon pricing?
- Carbon pricing is the value ascribed to the external costs – usually social costs – of pollution emitted by an industry
- Carbon pricing is done either through a carbon tax or an emission trading system.
- Carbon tax is the price that governments impose on polluters for each metric ton of carbon dioxide emissions generated.
- Carbon trading is a market-based approach in which each polluter is allotted a specific quota (permit) or allowance of pollution that it can emit and trade these permits.
- In the 1920s, a British economist, Arthur Pigou, highlighted the social benefits of making industries pay for the costs of the pollution they caused.
- This concept was taken up in different ways in later stages and evolved into the concept of ‘carbon pricing’.
- According to the World Bank, carbon pricing is the value ascribed to the external costs of pollution emitted by an industry.
- External costs affect the emitting industry the least, whereas the great damage done to planet earth
- Instead, public systems pay a socially tragic price – such as the costs of losing crops because of poisoned air/water and health care costs because of heat/cold waves or extreme weather events from global warming.
- Carbon pricing is an economic tool used to push industries, households and governments to bring down emissions and invest in cleaner options.
- It helps in shifting the burden of damage caused by pollution onto those responsible for the pollution but does not dictate how or where emissions can be reduced.
- Instead, it puts an economic value to pollution and allows polluters to decide whether to reduce emissions or continue polluting but pay the price for it.
- Ideally, these taxes should be used to either offset the extra burden of carbon taxation on low-income groups or on remedial projects to offset the effects of pollution.
Why a price on carbon?
- Carbon is priced because CO2 being the most emitted GHGs
- According to the latest IPCC report, the window of action for reducing emissions to limit global warming to 1.5 – 2 deg C above pre industrial level is rapidly closing.
- And global warming & climate change create conditions beyond human tolerance
- Currently, Carbon pricing is done in two ways: (1) carbon tax, (2) Cap-and-trading or emission trading system (ETS)
What is Carbon tax?
- Governments impose on polluters for each metric ton of CO2 emissions (mt CO2e) generated
- Levied on coal, oil products, and natural gases, according to their carbon content
- It motivates industries to improve energy efficiencies, move towards low-carbon fuels and renewable energy sources.
- Carbon taxes are fairly easy to administer as add-ons to already existent fuel taxes
- Generate revenue for governments that can be utilised for achieving sustainable development goals.
- However, Carbon tax affects people of lower income groups as it increases fuel prices, and carbon taxes on industries trickle down to consumers
- In addition, carbon taxes may discourage investment and economic growth as businesses may shift production into countries without carbon taxes
- Finally, the administrative costs of monitoring and measuring emissions, and uncertainties in measuring the social costs of carbon pollution can make carbon taxation a difficult task.
What is carbon trading?
- Market-based approach to pricing carbon emissions and to limit the total amount of carbon-based pollution that can be produced.
- Governments allocate a limited number (set as a cap) of permits that allow a specified amount of emissions over a period of time.
- Polluters are then allowed to trade these permits with each other.
- if a polluter manages to maintains emission levels lower than its assigned permit values, it can sell the right to emit carbon to another polluter which may be emitting more that its quota
What are carbon credits?
- A carbon credit is a generic term for a tradeable certificate or permit to emit a 1 metric tonCO2 or an equivalent amount of different GHGs.
- It is the basic trading unit for carbon markets.
- The carbon trading market was set up in 1997, after the Kyoto Protocol was signed.
- Under this protocol, all participating countries were to set and adhere to a limit on their carbon emissions over a series of commitment periods.
- However, the protocol also allowed countries to trade emissions permits with each other.
- Apart from these permits, carbon removal units (from activities such as reforestation), emission reduction units, and certified emission reductions (from clean development mechanism projects) can also be traded
- The prices in cap-and-trade schemes, which use carbon credits, are market driven (meaning that their prices vary according to demand and supply), although the government controls how many units/credits are allotted to each industry/stakeholder, and so how many credits are available for sale on the whole.
Criticisms of the carbon pricing system
Currently, the Environmental Defense Fund states that the cap-and-trade system is the most “economically and environmentally” sound approach to limit emissions and mitigate global warming.
This is because the cap sets a firm limit on pollution and trading encourages cutting emissions in the most cost-effective manner.
However, carbon trading is insufficient to mitigate climate change.
Carbon pricing places more importance on increasing efficiency than on effectiveness and encourages optimisation of existing systems rather than on transforming them to reduce pollution.
Furthermore, it has been pointed out that current issues with emissions are a fundamental systemic problem of society, and not just a market problem; therefore, they will require more than just a ‘price on pollution’ to overcome.
“First and foremost, one must remember that carbon pricing, especially carbon taxation, is a tool to make cutting carbon emissions more economical – it is not necessarily a tool to cut the total amount of carbon produced”
“If we take the example of pollution from cars, a tax may not incentivise the owner-users to reduce the use of fossil fuels. After all, in urban areas, owning and using many cars is more of a status symbol, just like owning land in the rural areas. There are just too many incentives – EMI (equated monthly installment) is the most important – that fits nicely with this ‘aspiration’. For most users, fossil fuel is an ‘essential commodity’ and the quantum of its use is independent of price changes.
On the other hand, making the emission standards stricter has the potential to reduce the pollution emitted by a running engine per unit of time.
But according to ‘Jevons Paradox’ or the ‘rebound effect’ (expounded by William Stanley Jevons at the House of Commons two and a half centuries ago), if the rise in car numbers increases at a rate higher than the rate at which emissions are reduced, total emission will increase.
There are no easy solutions here, given the political economy of carbon in India
In addition to these issues, unlike how the cap-and-trade program drove innovations to reduce sulphur dioxide emissions from power plants, the rise in technological innovations for reducing carbon emissions have not met with the same success.
Although there is some evidence that innovations in low-carbon technologies are being driven by the European Union’s ETS (EU ETS) and China’s ETS, there are doubts that this will help in driving climate change mitigation at the desired rate.
What is the current rate at which carbon is priced?
According to The World Bank’s Global Carbon Pricing Dashboard as of April 2021, global carbon pricing initiatives range from less than $1 to as high as $137 per mt CO2e.
There are currently 65 carbon pricing initiatives across 45 national jurisdictions. In 2021, these initiatives would cover 11.65 Gmt CO2e, which represents 21.5% of the global GHG emissions.
However, less than 1% of the global emissions (5 out of 65 initiatives) are currently priced at close to or above the least estimated social cost of carbon, which, according to the IMF, is 75 USD per mt CO2e.
A publication in 2021 in the journal Environmental Research Letters, places the social cost of carbon at a whopping >3000 USD per mt CO2e if climate-economy feedbacks and temperature variabilities are taken into account.
As of November 2021, the average weighted price of carbon stood at 3.37 USD per mt CO2e.
How does carbon pricing work in India?
Currently, India does not have any explicit carbon pricing or cap-and-trade mechanisms; instead, it has an array of schemes that place an implicit price on carbon.
The Perform, Achieve and Trade (PAT) scheme aims to reduce emissions from energy intensive industrial sectors by setting specific energy reduction targets.
Industries that exceed the targets are awarded Energy Saving Certificates (ESCerts), each of which is equal to one metric tonne of oil.
Those industries unable to meet the targets are required to buy ESCerts (from units that have exceeded their targets) through a centralised trading mechanisms hosted by the Indian Energy Exchange.
The Coal Cess is a tax on coal that was introduced in 2010, which aimed to use the collected revenue to finance clean-energy initiatives and research via the National Clean Energy Fund.
However, the idea failed to achieve significant outcomes as a large part of the collected revenue remained unutilised.
In 2017, the coal cess was abolished and replaced by the Goods and Services (GST) Compensation Cess; the proceeds of this tax are used to compensate states for revenue losses due to a shift to the new indirect tax regime.
Renewable Purchase Obligations (RPOs) and Renewable Energy Certificates (RECs) are aimed at encouraging India’s growing renewable energy sector.
All electricity distribution agencies are required to source a specific minimum of their electricity requirements from renewable energy sources. For each state, the RPO is fixed and regulated by the respective State Electricity Regulatory Commission.
The RECs are market-based instruments that aid in achieving RPOs through trading at power exchanges.
Internal Carbon Pricing is a tool used by the private sector in India to reduce emissions voluntarily, so that they can channel investments into cleaner and more energy-efficient technologies to meet corporate sustainability goals.
Currently many major Indian private companies such as Mahindra and Mahindra, Tata, Infosys, and Wipro, use ICP to lower their carbon footprints.
The main issue with the carbon credit system currently, especially for small businesses or individual land holders, is that agencies that provide credentials for and evaluate carbon credit generation, charge very high fees, which may not be offset by the income generated from selling the carbon credits themselves.
Section: Monetary Policy
Six out of the 11 applications for ‘on-tap’ licences to set up universal banks and small finance banks were rejected by the Reserve Bank of India (RBI).
An ‘on-tap’ facility means the RBI will accept applications and grant licenses for banks throughout the year. The policy allows aspirants to apply for universal bank license at any time, subject to the fulfillment of the set conditions.
Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks in the Private Sector, were issued on August 1, 2016 and December 5, 2019 respectively.
Eligible entities seeking universal bank licences must be:
- Individuals/entities with at least 10 years of experience in banking and finance at a senior level or private companies or groups with at least 10 years of successful track record.
- Groups or companies applying for such licences must have assets of Rs 5,000 crore or above and the non-financial businesses don’t account for 40% or more of these assets.
To be eligible to apply for a small finance bank licence:
- Individuals must have at least 10 years of experience in the banking and finance sector at senior levels. However, large industrial houses are excluded as eligible entities but are permitted to invest in the banks up to 10%.
- Groups, companies, existing payments banks, non-banking finance companies, microfinance companies, local area banks and cooperative banks applying for these licenses must have at least five years of successful track record.
|Small Finance Banks (SFBs):|
Small Finance Banks are the financial institutions which provide financial services to the unserved and unbanked region of the country.
Existing non-banking financial companies (NBFC), microfinance institutions (MFI) and local area banks (LAB) can apply to become small finance banks.They are registered as a public limited company under the Companies Act, 2013.
Scope of Activities:
Universal Banks are the financial entities like the commercial banks, Financial Institutions, Non-Banking Financial Companies (NBFCs), which undertake multiple financial activities under one roof, thereby creating a financial supermarket. The entities focus on leveraging their large branch network and offer a wide range of services under a single brand name/Bank’s name.
Universal banking is a system of banking where banks undertake a blanket of financial services like investment banking, commercial banking, development banking, insurance and other financial services including functions of merchant banking, mutual funds, factoring, housing finance, insurance etc. In simple words, Universal Banking means that Financial Institutions (FIs) and Banks are allowed to undertake all kinds of activities of banking, financing and related businesses.
RBIs universal bank licensing guidelines:
Section: External Sector
A stable and sustained increase in India’s export requires next generation reforms in its domestic trade institutions which act as catalysts to the growth of exports.
Trade promotion bodies-The following is a list of Export Promotion Organisations in India, it includes Export Promotion Councils, Commodity Boards and Export development authorities. These are Non-Profit Organizations that are responsible for developing and promoting the export industry of India.
- Export Promotion Councils
Presently, there are fourteen Export Promotion Councils under the administrative control of the Department of Commerce. These Councils are registered as non-profit organizations under the Companies Act/ Societies Registration Act. The Councils perform both advisory and executive functions. The role and functions of these Councils are guided by the Foreign Trade Policy, 2009-14. These Councils are also the registering authorities for exporters under the Foreign Trade Policy 2009-14.
- Commodity Boards
There are five statutory Commodity Boards under the Department of Commerce. These Boards are responsible for production, development and export of tea, coffee, rubber, spices and tobacco.
- The Coffee Board is a statutory organisation constituted under Section (4) of the Coffee Act, 1942 and functions under the administrative control of the Ministry of Commerce and Industry, Government of India.
- The Rubber Board is a statutory organisation constituted under Section (4) of the Rubber Act, 1947 and functions under the administrative control of the Ministry of Commerce and Industry.
- The Tea Board was set up as a statutory body on 1st April, 1954 as per Section (4) of the Tea Act, 1953. As an apex body, it looks after the overall development of the tea industry.
- The Tobacco Board was constituted as a statutory body on 1st January, 1976 under Section (4) of the Tobacco Board Act, 1975. It is responsible for the development of the tobacco industry.
- The Spices Board was constituted as a statutory body on 26th February, 1987 under Section (3) of the Spices Board Act, 1986.The primary functions of the Board include production development of small and large cardamom, development and promotion of export of spices.
- Federation of India’s Exporters Organization
Federation of Indian Export Organisations popularly known as ‘FIEO’ is the apex body of the Government recognised Export Promotion Councils, Commodity Boards and Development Authorities in India. Set up in 1965 by the Ministry of Commerce, Govt. of India to focus the efforts of all stakeholders engaged in promotion of trade from the country, FIEO is a partner of Govt. of India to boost International Trade from India. FIEO provides the crucial interface between the International Trading community of India with the Central and State Governments, Financial Institutions, Ports, Railways, Surface Transport and all engaged in Export Trade Facilitation. The Federation directly and indirectly serves the interests of over 200,000 exporters from every Industry and Services sector in the country.
- The Export Development Authority looks into promotion of various other commodities not under the earlier Boards.
- Agriculture and Processed Food Products Export Development Authority-It is set up under an act of Parliament of 1986, APEDA looks after the promotion of exports of agriculture and processed food products.
- Marine Products Export Development Authority-Established in 1972, is an autonomous body under the Ministry of Commerce aimed at increasing export-oriented production, specifying standards, processing and export marketing of all kinds of fisheries and its products.
Partner Government Agencies (PGAs), facilitates Indian Customs for compliance of product standards. There are total 63 PGAs including:
- Food Safety Standards Authority of India for food and eatables, Plant Quarantine for ensuring Sanitary-Phyto-Sanitary Standards in compliance to domestic as well as international rules/treaties
- To strengthen Indian Navy capabilities to keep the Indo-Pacific open, safe and secure.
- He launched two frontline warships at Mazagon Docks Limited (MDL) in Mumbai —Surat, the fourth and last ship of Project-15B destroyers, and Udaygiri, the third ship of Project-17A stealth frigates.
- The Project 15B class of ships are the Navy’s next generation stealth guided missile destroyers being built at the Mazagon Dock Shipbuilders Ltd (MDL).
- Udaygiri is a follow-on of the P17 Frigates (Shivalik Class) with improved stealth features, advanced weapons and sensors and platform management systems.
- This is the first time that two indigenously built warships have been launched concurrently.
- Udaygiri and Surat are examples of India’s growing indigenous capability.
Section :Art and Culture
- Progress made in re-imagining our museums and cultural spaces in recent times in India.
- First, there has been a shift from a museum-centric approach to a cultural spaces approach.
- Second, the museums have been built for specific purposes rather than relying on general purpose museums.
- And finally, the museums have been looked at with a whole-of-government approach to ensure that museums provide a wholesome experience.
- Cultural Spaces Approach:
- This approach involves integration of one’s culture into the lives of the citizens rather than to position them in museums.
- And since India is one of the few continuously inhabited civilisational states that continues to thrive. Therefore, its art, culture and heritage are not just available for viewing in museums but can be witnessed in our day-to-day activities.
- As a result whenever stolen heritage is retrieved from other countries, there is an attempt to restore it to the place it was taken from rather than to have it languish in the warehouse of a museum.
- Specific Purpose Museums:
- Such museums have unique content and a definite purpose and also ensure that rich material is on display and the overall experience is wholesome.
- Examples: Birsa Munda museum in Ranchi, Pradhan Mantri Sangrahalaya, the arms and armour museum at the Red Fort, a gallery on Gautama Buddha in Delhi, the museum on Jammu and Kashmir and the Statue of Unity also contain a museum that chronicles the various facets of Patel in great detail.
- Whole-of-government approach:
- The museums are not just under the control of the Ministry of Culture, other government departments and ministries also play an important role in managing these museums.
- Such an approach also provides a wholesome experience to all stakeholders.
- The 25 science cities, centers and museums under the National Council of Science Museums, an autonomous body under the Ministry of Culture, are backed with a MoU with the Council of Scientific and Industrial Research.
- The use of digital technology to enhance user experience is not limited to the use of Artificial Intelligence, Augmented Reality and Virtual Reality, but to widen public access through modernisation and digitisation of collections and exhibitions.
- Breaking down silos to forge a whole-of-government approach in such a specialized domain requires new skills and perspectives and these are being developed.
- The new Indian Institute of Heritage that is being set up as a world class university aims to address these challenges.
- It monitors implementation of the Agreement on Trade-Related Aspects of Intellectual Property Rights (the TRIPS Agreement).
- It is open to all WTO members and observers.
- It provides a forum in which WTO Members can consult on intellectual property matters, and carries out the specific responsibilities assigned to the Council in the TRIPS Agreement.
- The TRIPS Agreement:
- sets the minimum standards of protection for copyrights and related rights, trademarks, geographical indications (GIs), industrial designs, patents, integrated circuit layout designs, and undisclosed information.
- establishes minimum standards for the enforcement of intellectual property rights (IPRs) through civil actions for infringement, actions at the border,
- and at least in regard to copyright piracy and trademark counterfeiting, in criminal actions.
Subject: National bodies
ASCI’s goals include monitoring, administering and promoting standards of advertising practices in India with a view to:
- ensuring truthfulness and honesty of representations and claims made through advertising and safeguarding against misleading advertising.
- ensuring that advertising is not offensive to generally accepted norms and standards of public decency.
- safeguarding against indiscriminate use of advertising for promotion of products or services which are generally regarded as hazardous to society or to individuals or which are unacceptable to society as a whole.
- ensuring that advertisements observe fairness in competition and the canons of generally accepted competitive behavior.
- To codify adopt and from time to time modify the code of advertising practices in India and implement, administer, promote and publicize such a code.
- To promote, maintain and uphold fair, sound, ethical and healthy principles and practices of advertising.
- To promote better understanding of benefits of fair, sound and ethical advertising amongst the practitioners of advertising and in society at large.
- To represent, protect, inform and guide members of the company on matters relating to advertising.
- To foster and promote cooperation amongst persons or companies engaged and involved in advertising.
Subject: International relations
Section : Organisation
- The G-7 or ‘Group of Seven’ are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
- The G-7 nations meet at annual summits that are presided over by leaders of member countries on a rotational basis. The summit is an informal gathering that lasts two days, in which leaders of member countries discuss a wide range of global issues.
- The G-7 does not have a formal constitution or a fixed headquarters.
- The decisions taken by leaders during annual summits are non-binding.
Subject: Science and Technology
- 6G (sixth-generation wireless) is the successor to 5G cellular technology.
- 6G networks will be able to use higher frequencies than 5G networks and provide substantially higher capacity and much lower latency.
- One of the goals of 6G internet will be to support one microsecond-latency communication.
- This is 1,000 times faster — or 1/1000th the latency — than one millisecond throughput.
- Working in conjunction with artificial intelligence (AI), the computational infrastructure of 6G will autonomously determine the best location for computing to occur; this includes decisions about data storage, processing and sharing.
- 6G is expected to support data rates of 1 terabyte per second.
- It seeks to utilize the terahertz band of frequency which is currently unutilized. Terahertz waves fall between infrared waves and microwaves on the electromagnetic spectrum.