Energy Conservation Amendment Bill in Lok Sabha

• Carbon markets allow the trade of carbon credits with the overall objective of bringing down emissions. These markets create incentives to reduce emissions or improve energy efficiency.
• For example, an industrial unit which outperforms the emission standards stands to gain credits. Another unit which is struggling to attain the prescribed standards can buy these credits and show compliance to these standards. The unit that did better on the standards earns money by selling credits, while the buying unit is able to fulfill its operating obligations.
• Under the Kyoto Protocol, the predecessor to the Paris Agreement, carbon markets have worked at the international level as well.
• Domestic or regional carbon markets are already functioning in several places, most notably in Europe, where an emission trading scheme (ETS) works on similar principles.
• A similar scheme for incentivising energy efficiency has been running in India for over a decade now. This BEE scheme, called PAT, (or perform, achieve and trade) allows units to earn efficiency certificates if they outperform the prescribed efficiency standards. The laggards can buy these certificates to continue operating.

''Badhe Chalo''Movement under Azadi ka Amrit Mahotsav begins

• It is designed to involve the youth of the country encouraging them to come forward and imbibe the true spirit of our democracy and celebrate 75 years of India’s independence with youthful fervour.
• Through this mass movement or ‘Jan Bhagidari’ initiative, the Ministry of Culture also intends to amplify and support the ‘Har Ghar Tiranga’ movement.
• This movement has been initiated by the Honourable Prime Minister and Home Minister and it calls upon every Indian to hoist a Tiranga in their homes between August 13th– 15th, 2022.
• To connect and to bring the youth and people together from across the country on one platform, Badhe Chalo will feature Flash Dances, where dancers will perform on a specially created ‘Youth Anthem’.
• Badhe Chalo is being held across 10 cities every day from 5th August to 11th August, 2022. These events will culminate with a Grand Finale on 12th August, 2022at Talkatora Stadium in New Delhi.

University Grants Commission has asked all Universities and Colleges to observe August 14 as Partition Horrors Remembrance Day.

• They have been asked to organize programmes and seminars to commemorate the sufferings and sacrifices of millions of Indians during the partition in 1947.
• Prime Minister Modi had last year announced that August 14 will be observed as Partition Horrors Remembrance Day in memory of the struggles and sacrifices of people, saying the pain of partition can never be forgotten.
• Mr Modi had said that millions of our sisters and brothers were displaced and many lost their lives due to mindless hate and violence.

Energy Conservation Amendment Bill in Lok Sabha

• The Bill seeks to amend the Energy Conservation Act, 2001. The Act promotes energy efficiency and conservation. It provides for the regulation of energy consumption by equipment, appliances, buildings, and industries.
• Obligation to use non-fossil sources of energy: The Act empowers the central government to specify energy consumption standards. The Bill adds that the government may require the designated consumers to meet a minimum share of energy consumption from non-fossil sources.
• Carbon trading: The Bill empowers the central government to specify a carbon credit trading scheme. Carbon credit implies a tradeable permit to produce a specified amount of carbon emissions.
• Energy conservation code for buildings: The Bill provides for an ‘energy conservation and sustainable building code’. This new code will provide norms for energy efficiency and conservation, use of renewable energy, and other requirements for green buildings.
• Applicability to residential buildings: Under the Bill, the new energy conservation and sustainable building code will also apply to the office and residential buildings meeting the above criteria. The Bill also empowers the state governments to lower the load thresholds.
• Standards for vehicles and vessels: Under the Act, the energy consumption standards may be specified for equipment and appliances which consume, generate, transmit, or supply energy. The Bill expands the scope to include vehicles (as defined under the Motor Vehicles Act, 1988), and vessels (includes ships and boats).

RBI raises rates, vows nimble policy

• The MPC also said it would remain focused on “withdrawal of accommodation” to ensure that inflation remains within the target, while supporting growth.
• The RBI retained its inflation and GDP growth projections for the current fiscal year ending in March 2023 at 6.7% and 7.2%, respectively.
• Consequently, the standing deposit facility (SDF) rate stands adjusted to 5.15%; and the marginal standing facility (MSF) rate and the Bank Rate to 5.65%.
• The policy response to the unfolding economic situation would be ‘calibrated, measured and nimble’.
• On the external sector, Mr. Das said the Current Account Deficit (CAD) would remain within manageable limits and the RBI had the ability to finance the CAD.

Kansas Voters Deliver Stunning Win for Abortion Rights

• The ‘Value Them Both Amendment’ states there “is no Kansas constitutional right to abortion or to require the government funding of abortion.”
• The Kansas Supreme Court ruled in 2019 that abortion was guaranteed by the state constitution.
• Voting ‘yes’ on the ballot for the amendment would have meant there would be no constitutional right to abortion in the state while voting against would leave the state constitution unchanged, and people in Kansas would continue to have a right to an abortion.
• This was the first time the American public electorally responded to the landmark decision of the Supreme Court in June when it overturned the nationwide constitutional right to abortion, leaving abortion laws entirely up to the states.

Taiwan''s porcupine strategy to counter China in case of a war

• The “porcupine doctrine”, which was proposed in 2008 by US Naval War College research professor William S Murray, is a strategy of asymmetric warfare focused on fortifying a weak state’s defences to exploit the enemy’s weaknesses rather than taking on its strengths.
• It is about building defences that would ensure that Taiwan “could be attacked and damaged but not defeated, at least without unacceptably high costs and risks”, Murray wrote in the Naval War College Review.

live-fire exercises, recently conducted by China?

• Live-fire exercises are exercises primarily used by military personnel, in which live ammunition is used to create training conditions that are as close to real combat scenarios as possible.
• Live-fire exercises are also used by law enforcement and firefighters as a form of field training, to train them to act calmly in real-life emergency situations in the future.
• During live-fire training, soldiers are placed in simulated combat situations and are given the opportunity to use their weapons and equipment (like ships, aircraft, tanks and drones).
• Such exercises are invaluable in maintaining combat readiness of troops, the cohesiveness of units, and instilling confidence in their ability to use their weapons and equipment correctly.