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Today’s Current Affairs Diary 12-05-2022| A Compilation of Today’s CA Related Articles

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Today’s Current Affairs Diary 12-05-2022


1. Today’s Important Prelims Bits 12-05-2022


Cyclone Asani

In News

IMD Red alert for severe Cyclonic storm Asani in Andhra Pradesh.

Key Facts

  • Asani is a severe cyclonic storm
  • Earlier it was in form of a storm in the Bay of Bengal which intensified into a cyclone.
  • It is expected to trigger wind over 75 km/hour and might get stronger.
  • It has been named Cyclone Asani by Sri Lanka. It means ‘wrath’ in Sinhalese.

What is a severe cyclonic storm?

A Severe Cyclonic Storm is a category used by the India Meteorological Department (IMD) to classify tropical cyclones, within the North Indian Ocean tropical cyclone basin between the Malay Peninsula and the Arabian Peninsula.

What is the naming of cyclones?

  • Adopting names for cyclones makes it easier for people to remember, as opposed to numbers and technical terms.
  • In 2000, a group of nations called WMO/ESCAP (World Meteorological Organisation/United Nations Economic and Social Commission for Asia and the Pacific), which comprised Bangladesh, India, the Maldives, Myanmar, Oman, Pakistan, Sri Lanka and Thailand, decided to start naming cyclones in the region.
  • After each country sent in suggestions, the WMO/ESCAP Panel on Tropical Cyclones (PTC) finalised the list.
  • The WMO/ESCAP expanded to include five more countries in 2018 — Iran, Qatar, Saudi Arabia, United Arab Emirates and Yemen.
  • The list of 169 cyclone names released by IMD in April 2020 were provided by these countries — 13 suggestions from each of the 13 countries.
  • Cyclones are being named sequentially, column-wise, with each cyclone given the name immediately below that of the previous cyclone. Once the bottom of the column is reached, the sequence moves to the top of the next column (in the second image). We are now on Cyclone Asani, as marked in red.


Intersolar Europe 2022

In News

Union Minister of State for Ministry of New and Renewable Energy Shri Bhagwant Khuba reached Munich, Germany today to attend Intersolar Europe 2022.

Key Facts

  • Intersolar Europe is the world’s leading exhibition for the solar industry.
  • Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.

Mission Amrit Sarovar

In News

A high level meeting held to review the progress of the Mission under the chairmanship of Secretary, Rural Development.

Key Facts

  • With a view to conserve water for the future, launched on 24th April 2022.
  • Aimed at developing and rejuvenating 75 water bodies in each district of the country as a part of celebration of Azadi ka Amrit Mahotsav.
  • This Mission has been launched with a whole of Government Approach in which 6 Ministries/Department involved.
  • Also BhaskaracharyaNational Institute for Space Application and Geo-informatics(BISAG-N)has been engaged as Technical partner for the Mission.
  • The Mission works through the States and Districts, through refocusing of various schemes such as Mahatma Gandhi NREGS, XV Finance Commission Grants, PMKSY sub schemes such as Watershed Development Component, Har Khet Ko Pani besides States’ own schemes.
  • The Mission encourages mobilisation of citizen and non-govt resources for supplementing these efforts.

Sedition Law

In News

The Supreme Court has effectively suspended the operation of the sedition provision in the country’s penal law.

Key Facts

  • Section 124A defines sedition as: “Whoever, by words, either spoken or written, or by signs, or by visible representation, or otherwise, brings or attempts to bring into hatred or contempt, or excites or attempts to excite disaffection towards, the Government estab­lished by law shall be punished with im­prisonment for life, to which fine may be added.
  • Thomas Macaulay, who drafted the Indian Penal Code, had included the law on sedition however it was not added in the code enacted in 1860.
  • In 1890, sedition was included as an offence under section 124A IPC through the Special Act XVII.
  • The punishment prescribed then, transportation “beyond the seas for the term of his or her natural life”, was amended to life imprisonment in 1955.


Infrastructure Investment Trusts

  • GS 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.



  • Recently, SEBI has come out with a new norm to implement draft filing fees to be paid by Infrastructure Investment Trusts (InvITs) for initial offer and rights issue.


Key points

  • Now InvITs are required to pay non-refundable filing fees of 1 per cent in case of initial offer and 0.05 per cent in case of rights issue of the total issue size at the time of filing of draft placement with respect to private placement.
  • Earlier, the InvIT was required to pay non-refundable filing fees of 0.1 per cent of the total issue size, irrespective of the type of issue.


What is InvIT? InvITs meaning

  • InvITs are like mutual funds that pool money from investors. They are regulated by SEBI.
  • InvITs could be set up for sectors defined under the infrastructure as per RBI guidelines.
  • InvITs own and operate operational infrastructure assets like highways, roads, pipelines, warehouses, power plants,
  • Typically, vehicles like InvITs are designed to pool money (small sums) from several investors to be invested in income-generating assets.
  • They offer regular income (via dividends) and long-term capital appreciation.



InvITs: How do they operate?

  • An InvIT is established as a trust settled by the sponsor under the Indian Trusts Act, 1882 and the trust deed registered in India under the Registration Act, 1908.
  • Besides, a Certificate of Registration as an InvITs needs to be obtained from SEBI.
  • Distributions by InvITs are based on Net distributable cash flows (NDCF), unlike companies where dividends are based on profits.
  • At present, there are 15 InvITs registered with SEBI, and seven are listed on the stock exchanges.


Difference between InvITs and REITs

  • Both InvITs and REITs (Real Estate Investment Trusts) are conceptually like mutual funds.
Infrastructure Investment Trusts Real Estate Investment Trusts
InvITs comprise a portfolio of infrastructure assets such as highways and power transmission assets. REITs comprise a portfolio of commercial real estates
InvITs invest in infrastructure projects such as roads or highways, which take some time to generate steady cash flows Real Estate Investment Trusts (REITs) are an investment vehicle that owns and manages investment grade and income-producing real estate properties such as offices, malls, industrial parks, warehouses, hospitality and healthcare centres.
InvITs can be publicy listed, private listed or private unlisted REITs must be publicly listed.
InvITs’ cash flows are less certain as they are dependent on multiple factors, including the capacity utilisation of the underlying assets and scalability of tariffs. REITs provide stable income and yield as 80 per cent of REIT assets are income-generating assets with long-term rental contracts.
InvITs comprise concessions where the projects are returned to the authority or rebid post the concession period. Here growth depends on the successful acquisition of concession assets through a bidding process. REITs own the property leased out and their underlying assets see growth in value over time and have high terminal value. REITs have greater visibility of growth, which can be achieved by redeveloping existing assets, new construction, and acquiring completed leased assets.
InvITs have a bigger trading lot size and thus somewhat poor liquidity. REITs are more accessible to small investors and have higher liquidity due to lower unit prices and trading lots.


InvIT benefits

  • InvITs present attractive investment opportunities and are expected to give a boost to the infrastructure projects, given the huge government outlay infrastructure creation.
  • The government had already identified InvITs as a way to attract large institutional long-term investors in infrastructure space.
    • For example: A large portion of fund could come through InvITs in the National Infrastructure Pipeline.
  • InvIT helps developers release their invested equity and deploy capital in new projects.
  • One of the benefits of InvITs for companies is that proceeds raised from such vehicles are not counted as debt.


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Rabindranath Tagore

  • GS Paper 1: Modern Indian history from about the middle of the eighteenth century until the present- significant events, personalities, issues.



Rabindranath Tagore in News

  • Recently, India celebrated Gurudev Tagore Jayanti. On the occasion of Rabindranath Tagore Jayanti, the Prime Minister, Shri Narendra Modi has paid tributes to Gurudev Tagore.



Key Facts about Rabindranath Tagore

  • About Rabindranath Tagore: Rabindranath Tagore, a multitalented personality, was a Bengali poet, novelist, a painter,and also v=credited with composing the National Anthem of India.
  • Marriage: Rabindranath Tagore married Mrinalini Devi in 1883, a child bride as was the tradition in those times.
  • Nobel Prize in Literature: Rabindranath Tagore also won the Nobel Prize for Literature in 1913 for his work on Gitanjali.
    • Rabindranath Tagore was thefirst non-European to receive the Nobel Prize.
    • Rabindranath Tagore was highly influential in introducing Indian culture to the west.
  • Beliefs: Rabindranath Tagore was opposed to nationalism and militarism as a matter of principle.
    • Tagore, on the other hand, promoted spiritual values and the creation of a new world culture founded in multi-culturalism, diversity, and tolerance.
  • Rabindranath Tagore Birth: Rabindranath Tagore, Bengali Rabīndranāth Ṭhākur, was born May 7, 1861 in Calcutta [now Kolkata].
  • British Knighthood: Rabindranath Tagore Rabindranath Tagore in 1915.
    • However, following the Jallianwalla Bagh massacre he renounced his Knighthood in 1919.
  • Death: Rabindranath Tagore, after an extended period of suffering, died on August 7, 1941, in the same mansion in which he was brought up.
    • Earlier, in 1937, he went into a comatose condition, which relapsed after a period of three years.

Champaran Satyagraha – Background, Gandhiji’s Role and Outcome


Key Contributions of the Rabindranath Tagore

  • Guru Shishya Model in Shantiniketan: Tagore started an experimental school based on traditional guru-shishya teaching methods from the Upanishads in Shantiniketan.
    • He was in favour of reviving the traditional model of education system in India, instead of imparting western model of education to children.
  • Independence movement: Tagore participated in the Indian nationalist movement from time to time in his own non-sentimental and visionary way.
    • He is also credited for giving the Mahatma title to India’s political father Mahatma Gandhi. Gandhi Ji was his devoted friend.
    • Opposed Partition of Bengal: Rabindranath Tagore strongly protested against the partition of Bengal in 1905. Tagore wrote many national songs and attended protest meetings against the decision to partition Bengal.
  • In the Field of Education: Rabindranath Tagore established Viswabharati University in 1921.
    • He also gave all his money from Nobel Prize and royalty money from his books to Viswabharati University.
  • Literary Contributions: Rabindranath Tagore wrote successfully in all literary genres. Few of them are written below-
    • Poems: Manasi (1890) (The Ideal One), Sonar Tari (1894) (The Golden Boat), Gitanjali (1910) (Song Offerings), Gitimalya (1914) (Wreath of Songs), and Balaka (1916) (The Flight of Cranes).
    • Plays: Tagore’s major plays are Raja (1910) [The King of the Dark Chamber], Dakghar (1912) [The Post Office], Achalayatan (1912) [The Immovable], Muktadhara (1922) [The Waterfall], and Raktakaravi (1926) [Red Oleanders].
    • Short stories and Novels: among themGora (1910), Ghare-Baire (1916) [The Home and the World], and Yogayog (1929) [Crosscurrents].
    • Paintings: Rabindranath Tagore is also credited with numerous drawings and paintings.

Raja Ram Mohan Roy- Indian Social Reformer




Amrit Sarovar Mission

  • GS 2: Conservation, environmental pollution and degradation, environmental impact assessment.



  • Recently, Ministry of Rural Development has held a high-level meeting to review the progress of Mission Amrit Sarovar.


About Amrit Sarovar Mission

When was Amrit Sarovar launched?

  • Mission on Amrit Sarovar was launched in April 2022 with a broad aim of conserving water for the future.

Amrit Sarovar Mission objective

  • The Mission is aimed at developing and rejuvenating 75 water bodies in each district of the country as a part of celebration of Azadi ka Amrit Mahotsav.
  • In total, it would lead to creation of 50,000 water bodies of a size of about an Acre or more.
  • Each of these Amrit Sarovar will have area of 1 acre with a water holding capacity of 10,000 cubic meter.

Amrit Sarovar Technical partner

  • Bhaskaracharya National Institute for Space Application and Geo-informatics (BISAG-N) has been engaged as technical partner for the Mission.

Convergence with other schemes

  • The Mission works through the States and Districts, through refocusing of various schemes such as Mahatma Gandhi NREGS, XV Finance Commission Grants, PMKSY sub schemes such as Watershed Development Component, Har Khet Ko Pani besides States’ own schemes.

Mission Amrit Sarovar: Implementation

  • The site of Amrit Sarovars will be approved by special Gram Sabha, which will also name Panchayat Partinidhi, who will on its behalf supervise development of Amrit Sarovar.

Mission Amrit Sarovar: People’s participation

  • Peoples’ participation is the key to entire initiative, as it is meant to evoke collective spirit of the community.



Mission Amrit Sarovar: Participating ministries/ organisation

  • Ministry of Rural Development (Dept. of Rural Development/ Dept. of Land Resources)
  • Ministry of Jal Shakti (Dept. of Water Resources/ Dept. of Drinking Water & Sanitation)
  • Ministry of Culture
  • Ministry of Panchayati Raj
  • Ministry of Environment, Forest & Climate Change
  • Bhaskaracharya National Institute for Space Applications and Geo-informatics (BISAG-N)




Other measures taken to improve groundwater resources

  • Jal Shakti Abhiyan (JSA): Launched in 2019 to improve water availability including ground water conditions in the water stressed blocks of 256 districts in India.
  • Jal Shakti Abhiyan: Catch the Rain” (JSA:CTR): It has been launched with the theme “Catch the Rain – Where it Falls When it Falls” to cover all the blocks of all districts (rural as well as urban areas) across the country.
  • Atal Bhujal Yojana: It is a Rs.6,000 crore Central Sector Scheme, for sustainable management of ground water resources with community participation.
  • Master Plan for Artificial Recharge to Groundwater – 2020: It is a macro level plan prepared by the Central Ground Water Board. The plan envisages construction of about 1.42 crore rain water harvesting and artificial recharge structures in the country.
  • National Aquifer Mapping and Management program (NAQUIM): It envisages mapping of aquifers, their characterization and development of Aquifer Management Plans to facilitate sustainable management of groundwater resources in the country.
  • Other schemes: Artificial groundwater recharge/water harvesting works is also being supported MGNREGA and Prime Minister Krishi Sinchayee Yojana – Watershed Development component (PMKSY-WDC), ‘Surface Minor Irrigation (SMI) and Repair, Renovation and Restoration (RRR) of Water Bodies schemes’ a component of PMKSY.


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New PPP Guidelines for Stuck Projects at Major Ports

  • GS Paper 3: Indian Economy- Infrastructure: Energy, Ports, Roads, Airports, Railways etc.



New PPP Guidelines for Stuck Projects at Major Ports in News

  • Recently, the Ministry of Ports, Shipping & Waterways has finalized the guidelines for dealing with Stressed Public Private Partnership (PPP) Projects at the Major Ports.



New PPP Guidelines for Stuck Projects at Major Ports

Eligible Projects

  • Projects which became stressed during construction stage, i.e., Pre-COD stage: these are the work has stopped due to inability of Concessionaire to continue with the execution of the project.
    • Execution stopped because of the reasons inter-alia aggressive bidding and the optimistic projections with regard to volumes & charges, unforeseen dynamic changes in their business.
  • Projects, both at Pre-COD and Post-COD stage, which became stressed due to borrowings being categorized by the lenders to the projects as NPA and/or lenders have approached NCLT for recovery of their dues.

PPP Models in India


Mechanism for Resolution of Stressed Projects

  • In case of the projects which became stressed during construction stage (Pre-COD stage): Concessioning Authority would pay to the Concessionaire or to the lenders of the Concessionaire, as full and final settlement for taking over the useful assets created by the Concessionaire, an amount equal to the lower of the following sums
    • The value of the work done by the concessionaire in accordance with the Concession Agreement and found useful by the major port (i.e. the Concessioning Authority); or
    • 90% of Debt Due as defined in the Concession Agreement; or
    • Any other amount as may be mutually agreed in writing between the Concessioning Authority and the Concessionaire as per the relevant provisions of Model Concession Agreement (MCA) 2021.
  • Projects which became stressed both at Pre-COD and Post-COD stage, due to borrowings being categorized by the lenders to the projects as NPA and/ or lenders have approached NCLT for recovery of their dues.


The Benefits of the new Guidelines

  • The aim of the guidelines is to facilitate revival of the projects falling in the category of stressed projects.
  • These guidelines will pave the way for resolution of the cases under arbitration. The port asset is likely to be put to use through re-bidding.
  • This will definitely result in unlocking the blocked cargo handling capacity of approximately 27 MTPA thereby creating better trade opportunities for the prospective investors and Port Authority will start generating revenue.
  • It will repose confidence in the investors/ concessionaires and also generate employment opportunities.
  • Some of the long standing disputes on stressed assets at various major ports that may see early resolution are-
    • Development of 13th Multipurpose Cargo (Other than Liquid/ Container Cargo) Berth on BOT Basis at Deendayal Port (1.50 MTPA approx.)
    • Development of 15thMultipurpose Cargo Berth at Kandla at Deendayal Port (1.50 MTPA approx.)
    • Offshore Container Terminal (OCT) at Mumbai Port (9.60 MTPA approx.)
    • Construction of NCB-II at VOC Port (7.00 MTPA approx.)
    • Berth EQ-1A at Visakhapatnam Port (7.36 MTPA approx.)


Significance of new PPP Guidelines

  • These new PPP Guidelines will facilitate for early resolution of various issues and revival of stressed projects along with unlocking the immense potential of those projects resulting in creation of more trade and job opportunities.

Tariff guidelines for PPP projects in Major Ports





  • GS 2: Separation of powers between various organs dispute redressal mechanisms and institutions.



  • Recently, Supreme Court has paused the law on sedition till the court hears the case next in July 2023.


Supreme court on sedition: Key points

  • With this decision, the Supreme Court has effectively suspended the operation of the sedition provision in the country’s penal law.
  • The Court has said that it expects that governments at the Centre and the States will not only retrict themselves in registering any fresh case of sedition under Section 124A of the IPC, but also will not continue with any investigation or taking any coercive measure under it.
  • The hope and the expectation arise from the Union government’s own submission that it has decided to re-examine and reconsider the provision as part of the Prime Minister’s efforts to scrap outdated laws and compliance burdens.
  • The Court has given liberty to the people to approach the jurisdiction courts if any fresh case is registered for sedition and cite in their support the present order, as well as the Union government’s stand.



Supreme court on sedition: Why important?

  • The persistent misuse of sedition law has been recognised years ago.
  • Earlier, courts have also pointed out that the police authorities were not heeding the limitation imposed a 1962 Constitution Bench of the Supreme Court on what constitutes sedition.
    • The constitution bench in 1962 stated that the term sedition is applicable only to “acts involving intention or tendency to create disorder, or disturbance of law and order, or incitement to violence”.
  • In practice, the police have been using the broad definition of sedition to book anyone who criticised the Government in strong and strident language.




Sedition supreme court: What next?

  • If the apex court chooses to do overrule a decision rendered by a five-judge Bench 60 years ago, and strikes down Section 124A as an unconstitutional restriction on free speech, it may help the larger cause of preventing misuse of provisions relating to speech-based offences.
  • However, the Government may choose to prevent such a situation by amending the Act so that the offence is narrowly defined to cover only acts that affect the sovereignty, integrity and security of the state, a recommendation given by experts.


Sedition law: Way forward

  • The Government has already said that it was revisiting the provision on its own, now it must heed the spirit of the order and take effective steps to prevent its misuse.


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Association of Asian Election Authorities (AAEA)

  • GS Paper 2: International Relations- Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.



Association of Asian Election Authorities (AAEA) in news

  • Recently, India has been unanimously elected as the new Chair of the Association of Asian Election Authorities (AAEA) for 2022-2024.
  • India elected as chair of the AAEA at the recently held meeting of the Executive board and General Assembly at Manila, Philippines.
    • Commission on Elections, Manila was the current chair of AAEA.
    • The new member in the Executive Board of AAEA now includes Russia, Uzbekistan, Sri Lanka, Maldives, Taiwan and Philippines.



Key facts about Association of Asian Election Authorities (AAEA)

  • About: AAEA was established in 1998 in pursuance of the resolution passed by participants of the Symposium on Asian Elections in the Twenty First Century held in 1997 in Manila, Philippines.
  • AAEA Members: Currently 20 Asian EMBs are members of Association of Asian Election Authorities (AAEA).
  • AAEA Mission: the mission of AAEA is
    • To provide a non-partisan forum in the Asian region for sharing experiences and best practices among election authorities &
    • To discuss and act upon ways to promote open and transparent elections with the objective of supporting good governance and democracy.
  • India at AAEA: ECI is a founder member EMB of the AAEA and also served on the Executive Board of the AAEA as the Vice Chair during 2011-13 and Chair during 2014-16.
  • AAEA at other Institutions:


About Election Commission of India (ECI)

  • About: The ECI is an autonomous constitutional authority responsible for administering Union and State election processes in India.
  • The body administers elections to the Lok Sabha, Rajya Sabha, and State Legislative Assemblies in India, and the offices of the President and Vice President in the country.


Constitutional provisions related to ECI

  • Part XV of the Indian constitution: deals with elections, and establishes a commission for these matters.
  • Article 324 to 329 of the constitution: deals with powers, function, tenure, eligibility, etc. of the commission and the member.
                                              Articles related to Elections
324 Superintendence, direction, and control of elections to be vested in an Election Commission.
325 No person to be ineligible for inclusion in, or to claim to be included in a special, electoral roll on grounds of religion, race, caste, or sex.
326 Elections to the House of the People and to the Legislative Assemblies of States to be on the basis of adult suffrage.
327 Power of Parliament to make provision with respect to elections to Legislatures.
328 Power of Legislature of a State to make provision with respect to elections to such Legislature.
329 Bar to interference by courts in electoral matters.

Election Commission of India (ECI)



State of the World’s Birds Report

  • GS 3: Conservation, environmental pollution and degradation, environmental impact assessment.



  • In the recently released State of the World’s Birds Report by Birdlife International, environmentalists have reported that expanding human footprint on the natural world and climate change is one of the major reasons of population decline of birds.


State of the World’s Birds Report: Key points

  • The report has claimed that climate change is an important emerging driver of change in bird communities and a particular concern for tropical montane, polar, and migratory species.
  • Global bird populations have steadily declined for the last three decades.
  • Major reason of this reduction could be attributed to the continued growth of human footprint on the natural world, which has led to the degradation and loss of natural habitats, and the direct overexploitation of many species are the key threats to avian biodiversity.
    • The use of 37% of the surviving bird species as pets and 14% as food are examples of direct overexploitation.


Key findings

  • Approximately 48 per cent of extant bird species worldwide (5,245) are known or suspected to be undergoing population declines, compared with 39 per cent (4,295) with stable trends, 6 per cent (676) showing increasing populations trends, and 7 per cent (778) with unknown trends.
  • Habitat loss resulting from land-use change typically occurs concurrently with habitat fragmentation and habitat degradation, which interact synergistically to drive changes in avian community composition.
  • The findings also states that human infrastructure and artificial light at night (ALAN, a form of pollution), impact the ability of migrating birds to access cues for navigation and orientation and act as a major sublethal impact to birds.
  • Globally, there has been a deterioration in the conservation status of the majority of bird populations, including that of many formerly abundant species, especially at temperate latitudes.
  • Threatened species are concentrated in the tropics, which host the richest avian diversity.
  • The most significant threats to avian biodiversity are habitat loss, fragmentation, and degradation coupled with human overexploitation and invasive alien species.
  • The study reports that birdwatching is a recommended form of avian conservation but warns of “local negative impacts” of bird feeding valued at $5-6 billion per year and growing by 4% annually.


State of the World’s Birds Report: India

  • Apart from tropical forests, the threat of natural grasslands has been particularly worrying for North America, Europe and India.
  • If unique ecosystems like grasslands are to retain their diverse birdlife, governments and research groups must prioritise such landscapes and their inhabitants for conservation and ensure that they do not become plantations or woodlands.

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