Strategic Petroleum Reserves(SPR)
The oil price meltdown provides an opportunity for oil importing country like India to tweak its energy policies to take advantage of the situation
Brent Crude Oil is trading around $25 a barrel (April 2020), the lowest in 18 years.
In 2019, the average closing price of a barrel of crude was $57.05. In 2018, it was $64.90, and in 2017, U$50.84.
Reduced oil price and India
Normally, reduced oil prices would translate into surplus oil for the consumers
It also means a fiscal bonus for the government through increased tax collections (when the reduced price is not fully transferred to consumers)
However, these gains will not be easy to come by given that the demand for petrol has drastically reduced.
Strategic Petroleum Reserves (SPR) programme
Objective is to maintain emergency stockpile of oil reserves
India claims to have 87 days of reserves.
Out of this, Oil refiners maintain 65 days of oil storage
The rest of the reserves are held in
The oil price meltdown provides an opportunity for oil importing country like India to tweak its energy policies to take advantage of the situation
Brent Crude Oil is trading around $25 a barrel (April 2020), the lowest in 18 years.
In 2019, the average closing price of a barrel of crude was $57.05. In 2018, it was $64.90, and in 2017, U$50.84.
Reduced oil price and India
Normally, reduced oil prices would translate into surplus oil for the consumers
It also means a fiscal bonus for the government through increased tax collections (when the reduced price is not fully transferred to consumers)
However, these gains will not be easy to come by given that the demand for petrol has drastically reduced.
Strategic Petroleum Reserves (SPR) programme
Objective is to maintain emergency stockpile of oil reserves
India claims to have 87 days of reserves.
Out of this, Oil refiners maintain 65 days of oil storage
The rest of the reserves are held in
underground salt caverns maintained by Indian Strategic Petroleum Reserves Limited (ISPRL).
The existing and planned capacity for the underground reserves is 10 and 12 days of import cover for crude oil respectively.
The existing and planned capacity for the underground reserves is 10 and 12 days of import cover for crude oil respectively.
Question of the Day(Current Affairs)
What is "Hand of Trust" that the Economic Survey 2020 talks about?
What is "Hand of Trust" that the Economic Survey 2020 talks about?
Anonymous Poll
24%
Invisible Hand of Market
13%
Powerful Hand of state
26%
Supportive Hands of poor people
37%
Moral support of states & Transparency in market
Question of the Day (static GK)
The phrase 'procedure established by the law' means
The phrase 'procedure established by the law' means
Anonymous Poll
48%
judges can't question the validity of a law, provided it is within the limits of the constitution
23%
judges can question the validity of an undue law even if it is within the limits of the constitution
13%
judges in India can declare a law invalid because in their opinion the law is not due or is unjust
15%
None of the Above
1-05-2020
1.Religion & Freedom
2.Pandemic patent Pool Needed
3.The making of modern public
Intellectual
4.Biden'S Bid
5 GI tags to Manipur black rice,n Gorakhpur terracotta.
6.SC allows withdrawal of plea against central Vista.
7.Icon of romance takes a final bow.
1.Religion & Freedom
2.Pandemic patent Pool Needed
3.The making of modern public
Intellectual
4.Biden'S Bid
5 GI tags to Manipur black rice,n Gorakhpur terracotta.
6.SC allows withdrawal of plea against central Vista.
7.Icon of romance takes a final bow.
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Question of the Day(Current Affairs)
What is "Hand of Trust" that the Economic Survey 2020 talks about?
What is "Hand of Trust" that the Economic Survey 2020 talks about?
Answer A
Explanation
Indian economy relied on the invisible hand of the market with the support of the hand of trust: ... Survey illustrates enormous benefits accruing from enabling the invisible hand of the market. Exponential rise in India's GDP and GDP per capita post-liberalisation coincides with wealth generation.
Explanation
Indian economy relied on the invisible hand of the market with the support of the hand of trust: ... Survey illustrates enormous benefits accruing from enabling the invisible hand of the market. Exponential rise in India's GDP and GDP per capita post-liberalisation coincides with wealth generation.
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Question of the Day (static GK)
The phrase 'procedure established by the law' means
The phrase 'procedure established by the law' means
Answer A
Explanation
Procedure established by law means that a law that is duly enacted by legislature or the concerned body is valid if it has followed the correct procedure. Following this doctrine means that, a person can be deprived of his life or personal liberty according to the procedure established by law.
Explanation
Procedure established by law means that a law that is duly enacted by legislature or the concerned body is valid if it has followed the correct procedure. Following this doctrine means that, a person can be deprived of his life or personal liberty according to the procedure established by law.
India permanent Mission to United Nation
India has appointed diplomat T S Tirumurti, currently serving as Secretary in the Ministry of External Affairs, as its Permanent Representative to the United Nations.
What are Permanent Missions to the United Nations?
According to Article 1 (7) of the Vienna Convention on the Representation of States in their Relations with International Organizations of a Universal Character, a “Permanent Mission” is a: “ mission of permanent character, representing the State, sent by a State member of an international organization to the Organization”.
The Permanent Mission is the diplomatic mission that every member state deputes to the United Nations.
It is headed by a Permanent Representative, who is also referred to as the “UN ambassador”.
Roles and functions:
The presence of such permanent missions serves to assist in the realization of the purposes and principles of the United Nations.
They seek to keep the necessary liaison between the Member States and the Secretariat
India has appointed diplomat T S Tirumurti, currently serving as Secretary in the Ministry of External Affairs, as its Permanent Representative to the United Nations.
What are Permanent Missions to the United Nations?
According to Article 1 (7) of the Vienna Convention on the Representation of States in their Relations with International Organizations of a Universal Character, a “Permanent Mission” is a: “ mission of permanent character, representing the State, sent by a State member of an international organization to the Organization”.
The Permanent Mission is the diplomatic mission that every member state deputes to the United Nations.
It is headed by a Permanent Representative, who is also referred to as the “UN ambassador”.
Roles and functions:
The presence of such permanent missions serves to assist in the realization of the purposes and principles of the United Nations.
They seek to keep the necessary liaison between the Member States and the Secretariat
in periods between sessions of the different organs of the United Nations.
The Representatives are assigned to the UN headquarters in New York City, and can also be appointed to other UN offices in Geneva, Vienna, and Nairobi.
The Indian Permanent Mission at the UN:
There are currently eight Indians in senior leadership positions at the United Nations at the levels of Under Secretary General and Assistant Secretary General.
The first Indian delegates at the United Nations included statesman Arcot Ramasamy Mudaliar, and freedom fighters Hansa Mehta, Vijayalakshmi Pandit, and Lakshmi Menon. Mehta and Pandit were among the 15 women members of the Indian Constituent Assembly.
India and the UN:
India was among the select members of the United Nations that signed the United Nations Declaration at Washington on January 1, 1942.
India also participated in the historic UN Conference of International Organization at San Francisco from April 25 to June 26, 1945.
The Representatives are assigned to the UN headquarters in New York City, and can also be appointed to other UN offices in Geneva, Vienna, and Nairobi.
The Indian Permanent Mission at the UN:
There are currently eight Indians in senior leadership positions at the United Nations at the levels of Under Secretary General and Assistant Secretary General.
The first Indian delegates at the United Nations included statesman Arcot Ramasamy Mudaliar, and freedom fighters Hansa Mehta, Vijayalakshmi Pandit, and Lakshmi Menon. Mehta and Pandit were among the 15 women members of the Indian Constituent Assembly.
India and the UN:
India was among the select members of the United Nations that signed the United Nations Declaration at Washington on January 1, 1942.
India also participated in the historic UN Conference of International Organization at San Francisco from April 25 to June 26, 1945.
P.A. Inamdar & Ors vs State of Maharashtra & Ors Appeal 2005
Facts
This case highlights the merits and constitutional basis of the right to education as a fundamental right under the constitution. It was brought to the court’s attention through a flaw found in the PAI Foundation case. The argument was whether there was a fundamental right to set up an educational institution or not.
Judgment
The Court in adjudicating on this case considered the issue and relied on Article 30 (1) of the Constitution and corrected the error of the case to avoid the floodgate of writ petition pertaining to the educational institution as a fundamental right enshrined in the constitution
Facts
This case highlights the merits and constitutional basis of the right to education as a fundamental right under the constitution. It was brought to the court’s attention through a flaw found in the PAI Foundation case. The argument was whether there was a fundamental right to set up an educational institution or not.
Judgment
The Court in adjudicating on this case considered the issue and relied on Article 30 (1) of the Constitution and corrected the error of the case to avoid the floodgate of writ petition pertaining to the educational institution as a fundamental right enshrined in the constitution
Question of the Day (Current Affairs)
After failing to pay the host fee, which country lost the hosting rights of 2021 men’s World boxing championship?
After failing to pay the host fee, which country lost the hosting rights of 2021 men’s World boxing championship?
Anonymous Poll
10%
UK
18%
China
47%
India
25%
Belgium
Question of the Day (static GK)
Which of the following Indian policy was launched in 1992 just after the end of the cold war, following the collapse of the Soviet Union?
Which of the following Indian policy was launched in 1992 just after the end of the cold war, following the collapse of the Soviet Union?
Anonymous Poll
59%
Economic Liberalization
23%
Look East Policy
11%
National Population Policy
6%
National Policy on Education
Question of the Day (Current Legal GK)
Which High Court Recently Reiterated that name of caste in any Judicial or Administrative Judicial matters should not be mentioned?
Which High Court Recently Reiterated that name of caste in any Judicial or Administrative Judicial matters should not be mentioned?
Anonymous Poll
42%
Delhi High Court
28%
Madras High Court
15%
Kerala High Court
14%
Rajasthan High Court
Passage
The Environment Ministry has relaxed Coastal Regulation Zone (CRZ) rules that restrict construction near beaches to help States construct infrastructure and enable them to receive ‘Blue Flag’ certification Last year, the Ministry selected beaches in India to vie for the certificate. This is an international recognition conferred on beaches that meet certain criteria of cleanliness and environmental propriety.The earmarked beaches are — Ghoghala beach (Diu), Shivrajpur beach (Gujarat), Bhogave beach (Maharashtra), Padubidri and Kasarkod beaches (Karnataka), Kappad beach (Kerala), Kovalam beach (Tamil Nadu) etc.The Blue Flag certification, however, requires beaches to create certain infrastructure — portable toilet blocks, grey water treatment plants, a solar power plant, seating facilities, CCTV surveillance and the like. However, India’s CRZ laws don’t allow the construction of such infrastructure on beaches and islands Via an order on January 9, the Environment Ministry eased these restrictions for the “purposes of Blue Flag certification”. “...Central Government hereby declares that for the purpose of Blue Flag Certification in such identified beaches, the following activities and facilities shall be permitted in the Coastal Regulation Zone (CRZ), including Islands, subject to maintaining a minimum distance of meters from HTL (High Tide Line),” the gazette notification notes.The certification is accorded by the Denmark-based Foundation for Environment Education, with 33 stringent criteria under four major heads for the beaches, that is, (i) Environmental Education and Information (ii) Bathing Water Quality (iii) Environment Management and Conservation and (iv) Safety and Services.The ‘Blue Flag’ beach is an ‘eco-tourism model’ and marks out beaches as providing tourists and beachgoers clean and hygienic bathing water, facilities/amenities, a safe and healthy environment, and sustainable development of the area.The Blue Flag Programme started in (1) in 1985 and has been implemented in Europe since 1987, and in areas outside Europe since 2001, when South Africa joined.
1. The Environmental Ministry selected how many beaches in India to vie for the certificate?
(a) 10 (b) 11 (c) 12 (d) 13
2. Blue flag programme was launched by:
(a) Foundation for Environmental Education
(b) United Nations Environment Programme
(c) International Environment agency
(d) None of the above
3. Which country has the highest number of Blue Flag Beaches?
(a) Greece (b) France (c) Spain (d) USA
4.. Which was the first Indian state to get blue flag certification?
(a) Goa (b) Kerala (c) Orissa (d) Tamilnadu
5. Which of the following will replace (1) in the passage ?
A)France B)Spain C)Holland D)Greece
The Environment Ministry has relaxed Coastal Regulation Zone (CRZ) rules that restrict construction near beaches to help States construct infrastructure and enable them to receive ‘Blue Flag’ certification Last year, the Ministry selected beaches in India to vie for the certificate. This is an international recognition conferred on beaches that meet certain criteria of cleanliness and environmental propriety.The earmarked beaches are — Ghoghala beach (Diu), Shivrajpur beach (Gujarat), Bhogave beach (Maharashtra), Padubidri and Kasarkod beaches (Karnataka), Kappad beach (Kerala), Kovalam beach (Tamil Nadu) etc.The Blue Flag certification, however, requires beaches to create certain infrastructure — portable toilet blocks, grey water treatment plants, a solar power plant, seating facilities, CCTV surveillance and the like. However, India’s CRZ laws don’t allow the construction of such infrastructure on beaches and islands Via an order on January 9, the Environment Ministry eased these restrictions for the “purposes of Blue Flag certification”. “...Central Government hereby declares that for the purpose of Blue Flag Certification in such identified beaches, the following activities and facilities shall be permitted in the Coastal Regulation Zone (CRZ), including Islands, subject to maintaining a minimum distance of meters from HTL (High Tide Line),” the gazette notification notes.The certification is accorded by the Denmark-based Foundation for Environment Education, with 33 stringent criteria under four major heads for the beaches, that is, (i) Environmental Education and Information (ii) Bathing Water Quality (iii) Environment Management and Conservation and (iv) Safety and Services.The ‘Blue Flag’ beach is an ‘eco-tourism model’ and marks out beaches as providing tourists and beachgoers clean and hygienic bathing water, facilities/amenities, a safe and healthy environment, and sustainable development of the area.The Blue Flag Programme started in (1) in 1985 and has been implemented in Europe since 1987, and in areas outside Europe since 2001, when South Africa joined.
1. The Environmental Ministry selected how many beaches in India to vie for the certificate?
(a) 10 (b) 11 (c) 12 (d) 13
2. Blue flag programme was launched by:
(a) Foundation for Environmental Education
(b) United Nations Environment Programme
(c) International Environment agency
(d) None of the above
3. Which country has the highest number of Blue Flag Beaches?
(a) Greece (b) France (c) Spain (d) USA
4.. Which was the first Indian state to get blue flag certification?
(a) Goa (b) Kerala (c) Orissa (d) Tamilnadu
5. Which of the following will replace (1) in the passage ?
A)France B)Spain C)Holland D)Greece
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