Current Affairs 17 February 2022

CONTENTS

1. SC: Tribunal appointments being taken lightly
2. Initial public offering
3. Pradhan Mantri Fasal Bima Yojana Scheme
4. India lacks solar waste handling policy

SC: Tribunal Appointments Being Taken Lightly

Context:

The Supreme Court said its judicial intervention saw the government make abrupt efforts to fill vacancies in tribunals some time back and nothing after that.

• Earlier, The Supreme Court accused the Centre of “cherry-picking” names for appointments to tribunals groaning under backlog and left almost defunct by long-pending vacancies.

Relevance:

GS-II: Governance (Government Policies and Interventions), GS-II: Polity and Constitution (Constitutional Provisions, Quasi-Judicial Bodies)

Dimensions of the Article:

1. About the present vacancies in tribunals
2. Constitutional provisions and mandates regarding Tribunals
3. Issues with tribunalization/tribunal

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Initial Public Offering

Context:

Recently, the government-owned Life Insurance Corporation of India (LIC) filed its Draft Red Herring Prospectus (DRHP) for its mega Initial Public Offering (IPO) with the Securities and Exchange Board of India (SEBI).

• LIC is fully owned by the government. It was set up in 1956. It has the biggest share in India’s insurance business.

Relevance:

GS III- Indian Economy (Capital Market)

Dimensions of the Article:

1. What is Initial public offering (IPO)?
2. Who fixes the price of securities in an issue?
3. Who can invest in an IPO?

Pradhan Mantri Fasal Bima Yojana Scheme

Context:

Recently, Maharashtra has signaled that it may opt out of Pradhan Mantri Fasal Bima Yojana Scheme.

Andhra Pradesh, Jharkhand, Telangana, Bihar, Gujarat, Punjab and West Bengal – all predominantly agriculture states – have already opted out of the scheme.

Relevance:

GS II- Welfare Schemes

Dimensions of the Article:

1. About Pradhan Mantri Fasal Bima Yojana (PMFBY)
2. Risks covered under the scheme

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India Lacks Solar Waste Handling Policy

Context:

The International Renewable Energy Agency (IRENA) estimated that the global photovoltaic waste will touch 78 million tonnes by 2050, with India expected to be one of the top five generators of such waste.

Relevance:

GS III- Environment and Ecology, GS II- Government policies and Interventions

Dimensions of the article:

1. Details
2. Solar waste management by other countries-
3. About IRENA

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