Current Affairs for SSC CGL Exams - 17 March 2022

SSC CGL Current Affairs

Current Affairs for SSC CGL Exams - 17 March 2022

::NATIONAL::

Net-zero carbon emissions by 2050: Mumbai becomes first South Asian city to set target

From achieving net-zero carbon emissions by 2050 to increase in and equal access to green spaces to improving air quality monitoring, Mumbai has announced many measures in its Climate Action Plan (MCAP) unveiled. The city has set a target of achieving total carbon neutrality/net zero emissions by 2050, two decades ahead of the Government of India's promised deadline set at the Glasgow CO Summit in 2021. India has committed to achieve net zero carbon emissions by 2070. This makes it the first city in South Asia to set such a timeline, reported Bloomberg.
Maharashtra Chief Minister Uddhav Thackeray dedicated to the people the MCAP and hailed the city for being the first in the country to have such a strategy in place, news agency PTI reported.
Speaking on the occasion, Thackeray pitched for sustainable development and said the city's administrators want to provide amenities to the people. However, he also underlined that citizens must lead happy and healthy lives

::INTERNATIONAL::

Russia's Most Favored Nation (MFN) will cancel trade status: US

Japan announced its intention to join Western countries in revoking the most favorable nation (MFN) status for Russia as part of its economic sanctions against the country, essentially marginalizing Russia as a trade partner.
The United States, the EU and the United Kingdom have already announced similar moves following a Group of Seven leaders’ statement last Friday that they would "endeavor" to take action to deny the preferred trade status to Russia.
Prime Minister Fumio Kishida made the announcement during a news conference on Wednesday evening, stressing the need to reinforce economic sanctions in line with the G7 statement.
Kishida also said Japan is planning to expand its list of banned exports to Russia, including luxury items, and add more names to freeze its assets.
Tsuyoshi Kawase, a professor of international economics at Sophia University, wrote in a report Monday that the impact of revoking MFN treatment for Russia will be huge when the entire G7 and other countries join in and not just the U.S. alone.
“As Russia’s trade partner, EU, especially Germany and the Netherlands, is important, comprising more than 40% of its export destination,” Kawase wrote in the report for the Research Institute on Economy, Trade and Industry on Monday, adding that the focus would be whether the EU will raise tariffs on energy, and if so how much.
The MFN status, a key principle of the World Trade Organization, suggests special treatment but it actually represents equal treatment for member nations. The clause requires countries to guarantee one another equal tariff and regulatory treatment. "There is no formal procedure for suspending MFN treatment and it is not clear whether members are obliged to inform the WTO if they do so."
For instance, if one country imposes a 3% tariff on lumber imports from another country, the tariff for all other member countries importing lumber to that country should also be set at 3%.

::ECONOMY::

Retail inflation rate at 6.07% in February, still above RBI limits

India's retail inflation stood at 6.07% in February as compared to 6.01% the previous month, while wholesale inflation rose to 13.11% against 12.96% in January, official data showed.
Although retail-level prices – which impact households – rose marginally over the previous month, they have crossed the Reserve Bank’s so-called tolerance limit. The RBI’s tolerance limit for the consumer inflation rate stands between 4-6%.
Rural Indians faced a higher price rise of 6.38% in February against 6.12% in January while urban India saw retail inflation fall slightly to 5.75% from 5.91% the previous month.
Overall retail inflation now stands at an eight-month high, while retail combined food prices in February rose 5.87% from a year ago.
Retail price data is collected from selected 1,114 urban markets and 1,181 villages covering all states to gauge inflation, which influences people’s income and also economic growth.
Wholesale inflation, which impacts traders and businesses, rose sharply, staying in double-digits for the 11th straight month.

::Science and tech::

ISRO organizes young scientist program "Yuvika" for students

Indian Space Research Organisation is organising a special programme for School Children called "Young Scientist Programme" "YUvaVIgyaniKAryakram" , YUVIKA, to impart basic knowledge on Space Technology, Space Science and Space Applications to the younger students with a preference to rural areas.
The programme is aimed at creating awareness about the emerging trends in science and technology amongst the youngsters, who are the future building blocks of our nation. ISRO has chalked out this programme to "Catch them young".Theprogramme is also expected to encourage more students to pursue in Science, Technology, Engineering and Mathematics (STEM) based research /career.
The YUVIKA - 2022 residential programme will be of two weeks duration during summer holidays (May 16-28, 2022) and the schedule will include invited talks, experience sharing by the eminent scientists, experimental demonstration, facility and lab visits, exclusive sessions for discussions with experts, practical and feedback sessions.
The programme aims to select 150 students across the country, who are studying in class IX as on March 01, 2022 in a school located within the territory of India.

::Sports::

FIDE Chess Olympiad 2022 to be held in Chennai

The Government of Tamil Nadu along with the All India Chess Federation has announced that India has won the bid to host FIDE Chess Olympiad 2022 in Chennai. After the FIDE declared that it is pulling the Chess Olympiad 2022 out of Russia due to the ongoing war situation, the world scrambled to take up this opportunity to bid for the prestigious event.
It took tremendous effort and coordination on part of all the officers involved in the Government of Tamil Nadu, the team at AICF and the personal interest of the honourable CM Thiru. M.K. Stalin for India to come up with the winning bid.