G-20 summit to focus on food, energy security

• Prime Minister Narendra Modi is set to meet ‘several’ leaders at the meet in Bali, likely to invite them to the 2023 summit under India’s presidency
• Prime Minister Narendra Modi will leave for Bali on November 14 to attend the G20 summit on November 15-16.
• Food and energy security, and post-COVID-19 health issues will be at the top of the agenda in sessions at the summit in the Indonesian city.
• This G20 summit is particularly special because India will hold the presidency of the G-20 summit from December 1, 2022 for a one-year period, and the presidency handover will take place during the summit in Bali

 

About G20

• The G20 was formed in 1999 in the backdrop of the financial crisis of the late 1990sthat hit East Asia and Southeast Asia in particular.
• It aims to secure global financial stability by involving middle-income countries.
• Together, the G20 countries include 60 % of the world’s population, 80 % of global GDP, and 75 % of global trade.

• Members:
  • Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the EU.
    • Spainis invited as a permanent guest.

 

• Presidency:
  • The presidency of the G20 rotates every year among members, and the country holding the presidency, together with the previous and next presidency-holder, forms the ‘Troika’ to ensure continuity of the G20 agenda.
    • Italy, Indonesia, and India are the Troika countries right now and Indonesia holds the current Presidency.

 

• Mandate:
  • The G20 has no permanent secretariat. The agenda and work are coordinated by representatives of the G20 countries, known as ‘Sherpas’, who work together with the finance ministers and governors of the central banks.
  • The primary mandate of the grouping is for International Economic cooperation with particular emphasis to prevent future financial crises across the world.
  • It plays a significant role in shaping the global economic agenda.
  • From 1999-2008 the forum exalted from a grouping of Central bank governors and finance ministers to Heads of states.

 

FPI investments rise in November with softening of the dollar

• 19,000 In crore, the amount invested by Foreign Portfolio investors (FPIs) in Indian equities in November, primarily due to the moderating trend in U.S. inflation and softening of the dollar.
• This came following a net outflow of just Rs 8 crore in October nd Rs 7,624 crore in September

 

About Foreign Portfolio Investments

• Investment in financial assets of a foreign nation, such as stocks or bonds listed on an exchange, is known as foreign portfolio investment (FPI).
• Since portfolio investments can be easily sold off and are therefore perceived as a short-term effort to make money instead of a long-term investment in the economy, this sort of investment is sometimes viewed less positively than direct investment.
• Compared to direct investments, portfolio investments often have a shorter time to maturity.
• Foreign portfolio investors typically anticipate seeing a return on their assets quite fast, just like with any stock investment.
• The liquidity of portfolio assets makes them simpler to sell compared to direct investments because securities are widely traded. Because they demand significantly less investment cash and due diligence than direct investments, portfolio investments are much more affordable for the typical investor.
• The investor does not have an influence on the business firm in which the investment is made, in contrast to direct investments.
• Foreign portfolio investments can be done by individuals, companies or even government agencies.
• Such investments help entrepreneurs in diversifying their portfolios, giving them an edge in international markets.
• An FPI will be featured in a country’s capital account and is part of the balance of payments which takes stock of money flowing in and out of the country over a specific period of time.

 

India makes a heavy contribution to the ASEAN-India fund

• 5 In $ million, India’s additional contribution to the ASEAN-India science and technology fund to enhance cooperation in sectors of public health, renewable energy and smart agriculture.
• Saurabh Kumar, Secretary (East) in the Ministry of External Affairs, said that both India and ASEAN vowed to advance maritime cooperation as well as maritime security.

 

About ASEAN

• The Association of Southeast Asian Nations is a regional organization which was established to promote political and social stability amid rising tensions among the Asia-Pacific’s post-colonial states.
• The motto of ASEAN is “One Vision, One Identity, One Community”.
• 8^thAugust is observed as ASEAN Day.
• ASEAN Secretariat – Indonesia, Jakarta.

 

Recent Developments of ASEAN

• The24^th ASEAN-India Senior Official’s Meeting (SOM) was hosted in Delhi.
  • India and ASEAN celebrated the 30^thanniversary of their Dialogue Relations.
• In the 2nd ASEAN Digital Ministers’ (ADGMIN) Meeting with India, the two sides finalized India-ASEAN Digital work plan 2022for future collaboration in the field.

 

Member Nations  of ASEAN

• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Brunei
• Vietnam
• Laos
• Myanmar
• Cambodia

 

New medical colleges to be set up by 2027 to boost the health sector

• 100 The number of new medical colleges to be set up by 2027, according to the latest proposal by the Union Health Ministry.
• The proposal aims to boost human resources for the health sector.
• The colleges will be
• set up under the centrally sponsored scheme for the establishment of new medical colleges by upgrading district hospitals.

 

Himachal Pradesh records 75.6% voter turnout, beats 2017 figure

• Himachal has registered the highest-ever polling in any Vidhan Sabha or Lok Sabha polls with a record turnout of 75.6 per cent in yesterday’s polling, as the figure is likely to go up with postal ballots yet to be received.
• Women outnumbered men in casting their votes with a turnout of 76.80 per cent as compared to men at 72.40 per cent.
• The total percentage of male population who exercised their franchise was 72.4 and that of females was 76.8 per cent. The third gender poll percentage was 68.4 per cent.

 

Collegium system of appointing judges is perfect: ex-CJI Lalit

• The collegium system of appointment of judges to the Supreme Court and High Courts is “perfect”, former Chief Justice of India U.U. Lalit said on Sunday.
• Justice Lalit, who retired on November 8, said the process of appointment should not go on indefinitely, adding that this has deprived the courts of much-needed talent.

 

About Collegium System and its Evolution

• It is the system of appointment and transfer of judgesthat has evolved through judgments of the Supreme Court, and not by an Act of Parliament  or by a provision of the Constitution.

 

Evolution of the System:

• First Judges Case (1981):
  • It declared that the “primacy” of the CJI’s recommendation on judicial appointments and transfers can be refused for “cogent reasons.”
  • The ruling gave the Executive primacy over the Judiciary in judicial appointments for the next 12 years.

 

• Second Judges Case (1993):
  • SC introduced the Collegium system, holding that “consultation” really meant “concurrence”.
  • It added that it was not the CJI’s individual opinion, but an institutional opinion formed in consultation with the two senior-most judges in the SC.

 

• Third Judges Case (1998):
  • SC on the President’s reference (Article 143) expanded the Collegium to a five-member body, comprising the CJI and four of his senior-most colleagues.

 

Heads the Collegium System

• The SC collegium is headed by the CJI (Chief Justice of India) and comprises four other senior most judgesof the court.
• Judges of the higher judiciary are appointed only through the collegium systemand the government has a role only after names have been decided by the collegium.

 

Procedures for Judicial Appointments

For CJI:

• The President of India appoints the CJI and the other SC judges.
• As far as the CJI is concerned, the outgoing CJI recommends his successor.
• In practice, it has been strictly by seniority ever since the supersession controversy of the 1970s.

 

For SC Judges:

• For other judges of the SC, the proposal is initiated by the CJI.
• The CJI consults the rest of the Collegium members, as well as the senior-most judge of the court hailing from the High Court to which the recommended person belongs.
• The consultees must record their opinions in writing and it should form part of the file.
• The Collegium sends the recommendation to the Law Minister, who forwards it to the Prime Minister to advise the President.

 

For Chief Justice of High Courts:

• The Chief Justice of the High Court is appointed as per the policy of having Chief Justices from outside the respective States.
• The Collegium takes the call on the elevation.
• High Court judges are recommended by a Collegium comprising the CJI and two senior-most judges.
• The proposal, however, is initiated by the outgoing Chief Justice of the High Court concerned in consultation with two senior-most colleagues.
• The recommendation is sent to the Chief Minister, who advises the Governor to send the proposal to the Union Law Minister.

 

England won T20 World Cup 2022

• England won ICC Men’s T20 World Cup 2022. The final match of the T20 World Cup 2022 was played between the two best teams of the tournament Pakistan and England.
• England won theT20 final 2022 match final match by 5 wickets. 
• Pakistan scored 137 runs (137/8) in 20 overs and England chased the score in 19 overs by 5 wickets (138/5).
• In this, world cup Indian batsman Virat Kohli was the top run scorer with 296 runs in 6 matches. While Sri Lankan bowler, Wanindu Hasaranga was the most wicket-taker. He took 15 wickets in 8 matches with 6.41 economy.

 

List of ICC T20 Cricket World Cup Winners (2007-2022)

S. No	Winner	Runner up	Year/Host
1.	India	Pakistan	2007/South Africa
2.	Pakistan	Sri Lanka	2009/England
3.	England	Australia	2010/ West Indies
4.	West Indies	Sri Lanka	2012/Sri Lanka
5.	Sri Lanka	India	2014/Bangladesh
6.	West Indies	England	2016/India
7.	Postponed due to the COVID-19 pandemic	Postponed due to the COVID-19 pandemic	2020/Australia
8.	Australia	New Zealand	2021/UAE and Oman
9.	England	Pakistan	2022/Australia

 

 

 

India’s 1st National Repository for Life Science Data set up at Faridabad, Haryana

Indian government be launching world’s longest river cruise in India Varanasi to Dibrugarh route

US planning to cut down methane emission 30% from 2020 levels by 2030

 

Reliance Industries Ltd building the 1st Multi-Modal logistics Park

 

Source : THE HINDU