Current Affairs Quiz - July, 2024

Notes:
For the fiscal year 2024-25, the Union Budget allocated a record ₹2.55 lakh crore to the Ministry of Railways, marking a 5.85% increase from the previous year’s ₹2.41 lakh crore. Despite this significant funding boost, the Economic Survey 2023-24 highlights limited progress on key safety initiatives, including the deployment of the automatic train protection system Kavach and the overhaul of signaling systems at railway stations.

Notes:
Housing & Urban Development Corporation (HUDCO) Ltd recently signed a non-binding memorandum of understanding (MoU) with the Rajasthan government to provide financial assistance for housing and urban infrastructure projects. The MoU outlines a potential investment of up to Rs 1,00,000 crore over the next five years, subject to agreed terms. HUDCO, a public sector entity under the Ministry of Housing and Urban Affairs, aims to build national assets while promoting “Profitability with Social Justice.” The corporation focuses on addressing housing needs for Economically Weaker Sections (EWS) and Low-Income Groups (LIG).

Notes:
The European Space Agency (ESA) has announced a mission to study the Apophis asteroid during its close flyby of Earth in 2029. This mission follows NASA’s commitment to Apophis, which was once feared to be on a collision course with Earth. In 2029, Apophis will pass within 32,000 km of our planet, providing a rare opportunity to study such a large asteroid up close. ESA noted that asteroids of this size approach Earth at such close distances only once every 5,000 to 10,000 years.

Notes:
Bolivia recently became a full-time member of MERCOSUR to enhance trade with member countries. MERCOSUR, the Southern Common Market, is an economic and political bloc in Latin America, originally comprising Argentina, Brazil, Paraguay, and Uruguay. Bolivia and Venezuela later joined, though Venezuela was suspended in 2016. Established in 1991 by the Treaty of Asunción, MERCOSUR promotes economic integration, free trade, and movement of goods, services, and people. The Common Market Council is its highest decision-making body. Spanish and Portuguese are its official languages. India and MERCOSUR signed a Preferential Trade Agreement in 2004.

Notes:
South Africa has enacted its first Climate Change Act to regulate greenhouse gas emissions, aligning its efforts with the Paris Climate Agreement. The law mandates emission limits for major polluters and requires local strategies to address climate change. A primary goal is to reduce emissions from coal, South Africa’s main energy source, making it one of the top carbon dioxide emitters. The Act establishes emissions targets for key sectors like agriculture, transportation, and industry, with ministries responsible for implementation. It introduces a carbon budget system, where large emitters face extra carbon taxes if they exceed set limits.

Notes:
According to the WTO’s “World Tariff Profiles” Report, 2024, India is the second-largest user of Non-Tariff Measures (NTMs) in 2023. NTMs are policy measures other than ordinary customs tariffs that can impact international trade in goods by changing quantities traded, prices, or both. Examples include quotas, price controls, Sanitary and Phytosanitary measures, and Technical Barriers to Trade. While many NTMs aim to protect public health or the environment, they also affect trade through information, compliance, and procedural costs.

Notes:
India has set a target to gasify 100 million tonnes of coal by 2030. Coal gasification is a thermo-chemical process that converts coal into carbon monoxide and hydrogen, producing syngas, dimethyl ether, ammonium nitrate, and methanol. Syngas can substitute for LPG and electricity generation, while dimethyl ether is an alternative for diesel engines, and ammonium nitrate can be used for explosives. This initiative aims to reduce reliance on imports, conserve foreign exchange, and support India’s oil, gas, fertilizer, and petrochemical sectors. Currently, India imports about 83% of its oil, over 90% of its methanol, and 13-15% of its ammonia.

Notes:
The US Navy, Navy SEAL commandos, and the US Air Force plan to install the Mako missile in all their aircraft. Developed by Lockheed Martin, an American aerospace manufacturer, the Mako missile is an air-launched hypersonic multi-mission weapon, capable of being fired from the internal weapons bay of the F-35 and F-22 Raptor stealth fighters. Named after the fastest shark, it can reach speeds over Mach 5 with high maneuverability, making it hard to intercept. Weighing around 590 kg and measuring 4 meters in length, the Mako missile is designed for diverse missions and represents a breakthrough in digital engineering in missile development.

Notes:
Brazil recently reported the world’s first death due to the Oropouche virus. This virus, a segmented single-stranded RNA virus, circulates in Central and South America and the Caribbean. It is primarily transmitted to humans through the Culicoides paraensis midge or Culex quinquefasciatus mosquitoes, found in forested areas and near water bodies. Symptoms are similar to dengue, including fever, headache, joint stiffness, pain, and nausea. There is no evidence of human-to-human transmission of the virus. Currently, no specific antiviral treatment or vaccine exists for Oropouche virus disease.

Notes:
Russia’s Wagner mercenary group reported severe losses, including a commander, in battles with separatist forces in northeast Mali. Wagner, a private military company founded by Yevgeny Prigozhin and Dmitry Utkin, emerged in 2014 during Russia’s annexation of Crimea and operates in several countries including Syria, Libya, and Mali. Despite being technically illegal in Russia, it registered as a “private military company” in 2022.