Afternoon edition
Daily current affairs for UPSC, BPSC, State PCS and PSC exams.
Why in news?
The UAE has indicated its intention to invest an additional $25 billion in India, building on existing investments and aiming for a long-term target of $100 billion.
Key points
- UAE signals $25 billion additional investment in India.
- Focus sectors include ports, shipbuilding, energy security, space technology, and financial services.
- UAE is already India's seventh-largest FDI source, with $25 billion invested.
- Bilateral trade target set at $200 billion by 2032.
- Discussions covered trade facilitation, taxation, logistics, and use of local currencies for trade.
Background & context
India and UAE share strong economic and strategic ties. The India-UAE Comprehensive Economic Partnership Agreement (CEPA) aims to enhance trade and investment relations.
★ Prelims fact capsule
UAE is currently the seventh-largest source of FDI for India.
✎ Mains relevance
GS Paper II (International Relations): Bilateral relations, economic diplomacy. GS Paper III (Economy): FDI, trade agreements.
Why in news?
Union Home Minister Amit Shah will chair a meeting to resolve the long-standing water-sharing dispute between Odisha and Chhattisgarh over the Mahanadi River.
Key points
- Union Home Minister Amit Shah to chair a meeting on October 1.
- Objective is to resolve the water-sharing dispute between Odisha and Chhattisgarh.
- Chief Ministers, Chief Secretaries, and Chief Engineers from both states will attend.
- Central Water Commission (CWC) and Mahanadi Water Disputes Tribunal are involved in the process.
- Previous meetings have been held between engineers and a high-level meeting was chaired by the Union Jal Shakti Minister.
Background & context
The Mahanadi River flows through Chhattisgarh and Odisha. Disputes over water usage, particularly concerning upstream dams in Chhattisgarh, have existed for a decade, impacting downstream states.
★ Prelims fact capsule
The Mahanadi Water Disputes Tribunal is headed by former Supreme Court judge Justice Bela M. Trivedi.
✎ Mains relevance
GS Paper I (Geography): Inter-state river water disputes. GS Paper II (Polity): Federalism, centre-state relations.
Why in news?
The CAG report has highlighted major irregularities in the utilization of DMF funds in Odisha, intended for mining-affected people, with funds being misallocated and spent without adherence to rules.
Key points
- CAG report unearths irregularities in DMF fund utilization in Odisha.
- Funds meant for people and areas affected by mining operations were misused.
- Identification of directly and indirectly affected people was delayed.
- Funds were spent on 'Common affected areas' not defined in rules, exceeding the 40% limit for indirectly affected areas.
- Specific districts like Keonjhar, Sundargarh, and Jajpur show discrepancies.
Background & context
District Mineral Foundations (DMFs) are statutory bodies set up under the Mines and Minerals (Development and Regulation) Amendment Act, 2015, to work for the welfare of persons and areas affected by mining-related operations. The Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY) is the overarching scheme.
★ Prelims fact capsule
Rule 10(D) of the Odisha DMF Rules, 2015, stipulates that not more than 40% of DMF funds can be utilized for indirectly affected areas.
✎ Mains relevance
GS Paper II (Governance): Government policies and interventions. GS Paper III (Economy/Environment): Resource allocation, impact of mining, audit reports.