9th JAN, 2024

ONGC starts oil production from its flagship deep-sea project in Krishna-Godavari (K-G) basin

ONGC has started producing oil from the offshore Cluster-2

project in the KG basin in the Bay of Bengal.
Offshore drilling is the process of extracting petroleum from
reserves located beneath the ocean floor using:
Floating rigs: For drilling in deep waters.
Bottom-resting platforms: For drilling in shallow waters.
Significances of Offshore Drilling for India
Promote energy security: It helps diversify India’s energy
basket and Self-reliance to meet rapidly growing energy
needs.
Other benefits: Facilitate technological advancement, Job
creation, increased oil production stimulates economic
growth etc.
Issues faced in offshore drilling: Subsurface geological issues,
risk of oil contamination to marine life and coastal communities,
greenhouse gas emissions, etc.
Sedimentary Basins of India: India has 26 sedimentary basins
categorised in three categories (refer to map).

“Digital Trade for Development” Report Explores Opportunities and Challenges for Developing
Economies from Digital Trade

Report is a joint publication by IMF, World Bank, WTO, Organisation for Economic Co-operation and Development (OECD) and
UN Conference on Trade and Development (UNCTAD).
Digital trade includes online transactions for goods and services, whether delivered digitally or physically, involving
consumers, businesses, and governments.
Key Findings
Trend: Value of digitally delivered services has increased nearly four times since 2005, growing at an average annual rate
of 8.1% from 2005 to 2022.
♦ This growth rate has exceeded that of goods exports (5.6%) and other services exports (4.2%).
Opportunities form Digital Trade :
♦ Assist developing economies in reducing barriers to market entry.
♦ Offering direct access to global markets, bypassing traditional intermediaries such as wholesalers, retailers.
♦ Cost-effective platforms for small and medium-sized enterprises (MSMEs).
♦ Empower women entrepreneurs by offering flexible
business models enabling them to overcome socio- Recommendations by Report
cultural barriers. Developing economies require increased international
Challenges : financial and technical support to enhance connectivity, skills,
♦ About one-third of the world's population, mostly in and regulatory capabilities in digital trade-related areas.
low- and lower-middle-income economies, still doesn't Initiatives like the WTO-led Aid for Trade, UNCTAD-led
have online access. eTrade for all and the World Bank-led Digital Advisory and
Trade Assistance (DATA) Fund can help.
♦ High tariffs on imports of information and
Global collaboration is essential to ensure that small
communication technology (ICT) equipment.
businesses, women, young entrepreneurs, and consumers
♦ Regulatory issues like cross-border data flows, worldwide can enjoy the advantages of digital trade.
competition and consumer protection.

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SBI Research report reveals decline in individual income inequality in the country in past 8
years

Key highlights of the report: From 2013-2014 to 2021-2022:

In terms of Gini coefficient, income inequality of taxable income
group has declined from 0.472 to 0.402.
36.3% of taxpayers have moved from lower income to higher
income tax bucket.
Top 2.5% of taxpayer’s contribution in income has declined
from 2.81% to 2.28%
Female labour force participation is rising.
Micro firms are transitioning towards small, medium and large
size firms.
These findings dispel the notion of 'K- shaped' growth or recovery.
K-shaped recovery happens when different sections of an
economy recover at starkly different rates.
♦ Many experts have suggested that post the COVID-19
pandemic, India is experiencing a 'K- shaped' recovery, where
the rich thrive while the less privileged face challenges.
About Gini coefficient
Gini coefficient is a statistical measure of income or wealth
inequality, ranging from 0 (perfect equality) to 1 (perfect
inequality).
♦ Theoretically, values over 1 are possible due to negative
income or wealth.
Gini coefficient larger than 0.40 is considered high.

India’s First Inland Waterways Development Council (IWDC) Meeting Hosted by Inland
Waterways Authority of India in Kolkata

IWDC, launched in October 2023, seeks to enhance Inland Water Transport (IWT) in India.
IWDC is chaired by Union Minister for Ministry of Ports, Shipping and Waterways, with participation from State
Governments/UTs.
It will boost cargo, passenger movement and river cruise tourism.
Major outcomes of recent IWDC meeting
Harit Nauka Guidelines for Green Transition of Inland Vessels.
A commitment of Rs 45,000 crore has been made for development of River Cruise Tourism, and River Cruise Tourism
Roadmap, 2047, launched.
Significances of IWT
Transforming logistics: Due to Low costs, greater fuel efficiency etc.
Decongesting road-rail transport: IWT offers effective alternative mode of transportation.
Regional Connectivity: Crucial role in connecting the north-eastern states to rest of India.
Initiatives for IWT
Jal Marg Vikas Project: Development of the Ganga-Bhagirathi-Hooghly river system (NW 1) with focus on cargo,
passenger ferry etc.
National Waterways (NWs): 23 out of 111
notified NWs are operational, facilitating
shipping, navigation.
Maritime India Vision 2030: Target to
increase the modal share of IWT from 2%
to 5% .
Maritime Amrit Kaal Vision 2047:
Identifies 46 initiatives to develop IWT
e.g. port-based agglomeration centres,
coastal berths etc.

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“Transforming Energy Demand”
White Paper Released by World
Economic Forum (WEF)
Its goal is to find practical ways for companies
and governments to speed up the global
energy transition by taking action on energy
demand.
At COP28, governments committed to
tripling the world's renewable energy
capacity and doubling energy efficiency
improvement by 2030.
Key Findings
Global Savings: Taking steps to
manage energy demand can cut energy
consumption by as much as 31%, resulting
in annual savings of up to $2 trillion.
Action on energy consumption alongside
supply: It's crucial to tackle both energy
demand and supply to lower the energy
intensity of current and future activities.
Energy Needs: By 2050, the global
population will increase by 2 billion, and
the GDP is expected to double.
♦ Developing economies need sufficient
and affordable energy to fuel their
growth and accomplish development
goals.
Suggestions
Energy-saving measures:
♦ Such as using artificial intelligence to
optimize factory line design, Industrial
clustering.
♦ Retrofitting buildings and electrification
of transport.
Supportive policy environment: Like
India's UJALA program, which reduced the
initial cost per LED bulb to as low as $0.8.
Karnataka High Court Bans Mining Near Krishna Raja
Sagar (KRS) Dam
The ban will remain in force within a 20-km radius of the KRS dam until a
dam safety survey by the Central Institute of Mining and Fuel Research,
Dhanbad.
KRS Dam, in Mandya district (Karnataka), is located on the Kaveri
River.
It was constructed under the leadership of Sir M. Visvesvaraya
during the rule of Wodeyar dynasty in 1932.
About dams in India:
India is 3rd largest dam-owning nation in the world after the US and
China.
♦ India has more than 6000 completed and operational specified
dams and 143 are under construction stage.
States are responsible for dam safety regulations.
Concerns associated with dams
♦ Dams typically help alleviate regular floods but pose a significant
risk of more severe flooding in the event of dam failure.
♦ 293 large dams are over 100 years old and there is a lack of funds
for repair and maintenance of dams.
♦ Many dams face siltation which reduces water storage capacity
and harms aquatic species, wetlands, farmland etc.
♦ Inadequate reporting and recording dam failure events.
Initiatives for enhancing dam safety
Dam Safety Act, 2021 provides for proper surveillance, inspection,
operation and maintenance of specified dams.
The National Committee on Dam Safety (NCDS) under Dam Safety Act
constituted by the Centre to evolve dam safety policies .
Dam Rehabilitation and Improvement Project (DRIP) Phases-II being co-
financed by the World Bank and the Asian Infrastructure and Investment
Bank.

Also in News

Pravasi Bharatiya Diwas(PBD) Lunar Gateway Station

Celebrated on 9th January every year since 2003 to mark the
contribution of Overseas Indian community in the development
of India.
9 January commemorates the return of Mahatma Gandhi from
South Africa to India in 1915.
Since 2015, under a revised format, PBD Convention has been
organised once every 2 years.
17 Pravasi Bharatiya Divas Conventions have been organised till
date.
17th PBD Convention was held in 2023 in Indore, Madhya
Pradesh.
In 2023, theme was “Diaspora: Reliable partners for India’s
progress in Amrit Kaal”.
UAE has announced its participation in NASA’s Lunar Gateway
Station expected to be launched by 2025.
Other participating countries are USA, Japan, Canada and the
European Union.
Gateway is humanity’s first space station that will orbit the Moon.
This lunar space station will:
♦ Support long-term exploration of the Moon under Artemis
and research in deep space.
♦ Provide a home for astronauts to live and work.
♦ Spacewalks while orbiting the Moon.
♦ facilitate studies on solar and cosmic radiation.
Under Artemis mission, NASA will land the first woman and first
person of colour on the Moon.

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 Hog deer Directorate General of Civil Aviation (DGCA)

Hog deer are spotted for the first time in Rajaji Tiger Reserve
(Uttrakhand).
About Hog deer
Features: It is a small deer with rounded ears and older
animals tend to become light-coloured in the face and neck.
Diet: Herbivore
Habitat: Riverine flooded grasslands with tall grasses or
dense vegetation, found in tropical or subtropical climates.
Threats: Hunting, loss of habitat due to agriculture
IUCN status: Endangered
Protection: Schedule I of Wildlife Protection Act, 1972 and
Appendix I (CITES).
DGCA has updated Flight Duty Time Limitations (FDTL)
regulations for flight crew, aligning them with global best
practices.
These changes aim to tackle pilot fatigue and improve overall
flight safety.
DGCA is an attached office of the Ministry of Civil Aviation. Its
role is to:
Regulate of air transport services to/from/within India.
Enforce civil air regulations, air safety and airworthiness
standards.
Co-ordinates all regulatory functions with International Civil
Aviation Organisation.

Lakshadweep
Drone, Detect, Deter and Destroy (D4 System)

Lakshadweep, India’s smallest Union Territory, is an archipelago Indigenously developed anti-drone system that was inducted
of 36 coral islands. into the Indian Armed Forces.
Out of these, 10 islands (Kavaratti, Agatti, Amini, Kadmat, Developed by Defence Research and Development
Kiltan, Chetlat, Bitra, Andrott, Kalpeni, and Minicoy) are Organisation (DRDO).
inhabited.
Features
Southernmost island, Minicoy, is situated close to the busy
9-degree Channel a critical shipping route. It can detect, track and identify rouge drones within 4 km
range.
Originally named Laccadive, Minicoy, and Amindive, these islands
D4 system can instantly detect and jam micro drones (Soft
were renamed Lakshadweep in 1973.
kill) and use a laser-based kill mechanism to terminate targets
Primary economic activities on the islands are coconut (Hard kill).
cultivation, coir production, agriculture, fishing and tourism. It uses Global Navigation Satellite System (GNSS) to detect
the frequency which is being used by the controller and the
ANEEL (Advanced Nuclear Energy for Enriched signals are then jammed.
Life)
An American company has developed a fuel ANEEL (named after
India’s scientist, Dr Anil Kakodkar). Blackfoot language
ANEEL is a mix Thorium and Uranium of a certain level of
enrichment, called HALEU (High Assay Low Enriched Uranium). Lily Gladstone, the first Indigenous best actress winner at the
HALEU has an enrichment level of 5-20%, whereas most Golden Globes, delivered a speech in the Blackfeet language.
current reactors are enriched up to 5%. Blackfeet/Blackfoot is an Algonquian language that predated
Potential Benefits English and French.
ANEEL can be used in the existing Pressurized Heavy-Water It is spoken in Montana in the US, and in Alberta in Canada
Reactors (PHWRs) of India’s nuclear fleet. by Blackfoot people (i.e., tribes named Piegan, Siksika, and
Reduction in nuclear waste etc. Kainah).

Personality in News Bharatendu Harishchandra (1850-1885)

A poet,writer and reformist.

Contributions
Promoted and revived the Hindi language.
Known as father of ‘khadi Boli’ and one of the era of Hindi literature is also known as Bharatendu
Yuga after him.
Wrote under the pen name "Rasa".
Used publications to shape public opinion during freedom movement.
Journals: HarishChandra chandrika, Kavivachan Sudha etc.
Drama: Andher Nagari, Bharat Durdasha, Vaidik Hinsa Hinsa Na Bhavati etc. Bharatendu Harishchandra
(1850-1885)
Values: Nationalism, Empathy, Courage etc.

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