Daily CURRENT AFFAIRS

Daily Current Affair - UPSC/KAS Exams - 12th May 2022

 NEWS : Three state-owned oil marketing companies and three public sector banks entered into a long-term purchase agreement for the upcoming five dedicated ethanol plants across India recently

DETAILS

• WHICH ARE THE COMPANIES - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation
• WHICH ARE THE BANKS - SBI, Indian Overseas Bank and Indian Bank
• It is regarding payment towards supply of ethanol
• Ethanol produced by the dedicated plants will be sold to OMCs to blend with petrol
• Indian pumps are likely to start selling petrol blended with 20% ethanol by 2025. Pact may bring down the cost per litre by nearly Rs 10 and also help reduce inflation significantly.
• Ethanol will be blended with petrol to reduce the quantity of petrol that a vehicle uses. Hence, it will reduce import dependence on the country, which ships more than 85% of its oil requirement from overseas.
• However, the major challenge is the deficit of ethanol to achieve this target. India requires 1,016 crore litres of ethanol to achieve the 20% target in 2025-26.

NEWS : India observes its National Technology Day on 11th May every year

DETAILS

• First observed on 11th May, 1999
• Aims to commemorate the scientific and technological achievements of Indian scientists, engineers
• Named by the former Prime Minister Atal Bihari Vajpayee
• Every year, the Technology Development Board of India celebrates the day by awarding individuals with the National Award for their contribution to science and technology in India.
• It is the day India successfully tested nuclear bombs in Pokhran on 11th May, 1998.
• India successfully test-fired its Shakti-1 nuclear missile in an operation called Pokhran-II, also codenamed as Operation Shakti which was led by late president Dr APJ Abdul Kalam.
• The nuclear missile was tested at the Indian Army's Pokhran Test Range in Rajasthan. This was the second test which was conducted after Pokhran-I codenamed Operation Smiling Buddha, in May 1974.
• On the same day, India performed a successful test firing of the Trishul Missile (surface to air short range missile) and had test flown the first indigenous aircraft – ‘Hansa – 3’.

• In a significant decision, the Supreme Court ordered to keep the colonial-era sedition law in abeyance till the time the Centre re-examined the provision following concerns expressed over its misuse to jail critics of the ruling dispensation.