Prelims Focus – 12th April 2024

NIIF

Recent News:

The NIIF has provided a $200 million investment to support the expansion of India’s digital infrastructure through iBUS Network and Infrastructure Pvt Ltd., a connectivity technology company.

Details:

• NIIF is a fund manager in India that focuses on investing in infrastructure and related sectors. 
• Established in 2015, it is the country’s first sovereign wealth fund and is backed by the Indian government. 
• NIIF collaborates with international and domestic investors to invest in various asset classes with the goal of generating favourable returns. 
• The fund invests in different types of projects and has over $4.9 billion in assets under management, making it the largest infrastructure fund in India. 
• While it benefits from government support, NIIF operates independently and is managed by a team of experienced professionals.

Tons River

Recent News:

Two individuals tragically drowned in the Tons River in Ballia, Uttar Pradesh while taking a bath.

Details:

• The Tons River, the largest tributary of the Yamuna, originates from the Bandarpunch Mountain in Uttarakhand at a height of 6,315 metres. 
• It flows through the Garhwal region of Uttarakhand and touches Himachal Pradesh before joining the Yamuna near Kalsi in the Dehradun district. 
• The river, known for its perennial flow and glacier-fed waters, has a length of about 200 km and is surrounded by deep gorges, tranquil valleys, and dense forests. 
• The Tons River is culturally significant, home to indigenous communities like the Jaunsari and Bhotiya tribes with their own unique traditions and lifestyles. 
• Despite being a tributary, the Tons River contributes more water than the Yamuna itself at the point of meeting.

Curative writ Petition

In News: The Supreme Court has invoked curative writ petition in reviving the 2019 Delhi High Court judgment which partially set aside the Delhi Metro arbitration award.

• • It is the final and last option for the people to acquire justice as stated and promised by the Constitution of India. It is a manner to ask the court docket to check and revise their very own selection and it is filed after a review petition is disregarded or used.
  • Objective: It is supposed to ensure there may be no miscarriage of justice and to prevent abuse of process.

• Background

• • • The idea of curative petition originated from the case of Rupa Ashok Hurra Vs. Ashok Hurra and every other case (2002)wherein the subsequent query arose before the court docket of regulation: ‘whether an aggrieved individual is entitled to any remedy against the very last judgment/order of the Supreme Court, after the dismissal of a assessment petition?’.
    • In this situation, a 5-judge bench of the Supreme Court unanimously held that so one can rectify gross miscarriage of justice, the courtroom will allow the curative petition filed with the aid of the victim.

• Constitutional Background

• • The Article 137 of the Indian Constitution widely helps the concept of a healing petition.
  • It states that the “Supreme Court has the strength to review any judgment pronounced (or order made) by means of it if the problem worries the legal guidelines and regulations made below Article 145”.

Baobab Tree

In News: The Global Society for the Preservation of Baobabs and Mangroves (GSPBM) has recently initiated a mission to rejuvenate the iconic baobab trees in Madagascar.

• • It is a long-lived deciduous, small to big tree with vast trunks and compact tops which is also referred to as the upside-down tree.

• Distribution:

• • • There are 9 species of baobab tree. Two are local to mainland Africa, six to Madagascar and one to Australia. 
    • Mandu, in the Dhar district of Madhya Pradesh, is perhaps the simplest location in India where baobab timber is found in abundance.

• Features:

• • • It can live to become thousands of years old.
    • They only have very faint growth rings. Mature trees have big trunks which can be bottle-formed or cylindrical and tapered from bottom to pinnacle.
    • The fruit of the tree is round or oval-shaped and is noticeably nutritious.
    • It is also referred to as ‘Tree of Life’

• Ecological significance:

• • Baobabs are keystone species in Madagascar’s unique landscapes.
  • Their big trunks and substantial root systems are important for storing water in arid environments, supplying a crucial aid for both the timber and the encircling atmosphere in the course of drought periods.
  • This ability to save water enables baobabs to help a wide array of life, from microorganisms to large animals, fostering biodiversity of their habitats.

Fiscal Monitor Report

In News: Recently, in the Fiscal Monitor, the International Monetary Fund said industrial policy initiatives pursued by the United States, Europe and other countries to steer innovation in certain sectors were no panacea to boost economic growth.

• It presents an overview of new public finance traits, updates the mid-term economic outlook, and assesses fiscal implications of policies relevant to the worldwide economy. It is prepared two times a year through the IMF’s Fiscal Affairs Department.
• Its projections are primarily based on the same database used for the World Economic Outlook (WEO) and the Global Financial Stability Report(GFSR).
• The monetary projections for individual countries have been prepared by IMF desk economists, and, in keeping with the WEO tips.

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