CARE 14th June 2024 Current Affairs

Current Affairs Reverse Engineering – CARE (14-06-2024)

News at a Glance
Science and Technology: India-made TB diagnostics tech wins acclaim at World Health Assembly
International Relations: China’s ‘grey-zone’ warfare tactics against Taiwan
Ancient Greek sanctuary slowly sinks into the Aegean Sea
Awards and Honours: Kavli Prize- Nobel Prize in fields of astrophysics, neuroscience, and nanoscience
Economy: Launch of Nifty EV Index 

India-Made TB diagnostics Tech wins acclaim at World Health Assembly

Source: The Hindu

https://www.thehindu.com/sci-tech/health/india-made-tb-diagnostics-tech-wins-acclaim-at-world-health-assembly/article68280749.ece#:~:text=The%20Truenat%20platform%2C%20a%20rapid,77th%20World%20Health%20Assembly%20in

UPSC Syllabus Relevance: GS 3 (Science and technology)

Context:Truenat platform and 77th World Health Assembly 

Why in News 

  • The Truenat platform has been hailed for its role in combating TB and as a possible component of global healthcare solutions at the recently-held 77th World Health Assembly in Geneva.

Key Highlights

  • At the World Health Assembly (the decision-making body of the WHO), The Global Fund, which collaborates with the WHO to build stronger health systems across the globe, appreciated India’s commitment to eliminating TB by creating mass awareness, and intensive monitoring programmes using digital technologies.
  • The Global Fund noted that India’s innovative initiatives in the TB programme such as the use of Truenat machines and handheld X-ray devices, designed for challenging operational environments, could serve as models for global emulation.
  • At the Assembly, Union Health Secretary Apurva Chandra called upon The Global Fund to continue its support for the TB programme to strengthen the capacities of public health systems, according to a Press Information Bureau release. 

About Truenat Platform

  • The Truenat platform is a rapid molecular test for the diagnosis of pulmonary, extrapulmonary, and rifampicin-resistant tuberculosis.
  • It was developed in India and has been hailed for its role in combating TB.
  • It is considered as a possible component of global healthcare solutions at the recently-held 77th World Health Assembly in Geneva.
  • It is developed by Goa-based Molbio, a point-of-care molecular diagnostics company, Truenat was first launched in 2017 and is a real-time quantitative micro-PCR system. 
  • It is a portable, battery-operated machine that can be deployed at labs, health centres, and in the field.
  • Truenat delivers results from samples in less than an hour and can test for over 40 diseases.

Significance of Trunat

  • Truenat has now entered global markets, with roughly 10,000 installations worldwide. 
  • TrueNat is used at over 7,000 primary health centres and community health centres under the National TB Elimination Programme and is also being used at roughly 1,500 private labs in the country.
  • Early diagnosis and treatment are crucial to combating TB, which kills an estimated 480,000 Indians every year, or over 1,400 patients every day. 
  • The WHO reports over 10 million new cases of TB every year, and India alone accounts for 27% of the global TB burden.

World Health Assembly 

  • World Health Assembly is the decision-making body of the World Health Organization.
  • It is attended by delegations from all WHO Member States and focuses on a specific health agenda prepared by the Executive Board.
  • Functions:
  • The main functions of the World Health Assembly are to determine the policies of the Organization, appoint the Director-General, supervise financial policies and review and approve the proposed programme budget.
  • The Health Assembly is held annually in Geneva, Switzerland.
CARE MCQ UPSC PYQ
Q1. Consider the following statements with regards to Truenat system:

  1. Truenat is a rapid molecular test primarily designed for diagnosing Malaria.
  2. Truenat is developed by AIIMS in collaboration with ISRO.
  3. Truenat delivers the results from samples in around 2 days.
  4. Truenat is struggling in getting recognition from WHO.

Select the incorrect answer using the code given below:

A. Only one 

B. Only two 

C. Only three 

D. All four 

Q. Which reference to the role of biofilter in Recirculating Aquaculture System, consider the following statements: (2023)

1. Biofilters provide waste treatment by removing uneaten fish feed.

2. Biofilters convert ammonia present in fish waste in nitrate.

3. Biofilters increase phosphorus as nutrient for fish in water.

How many of the statements given above are correct?

  1. Only one
  2. Only two
  3. All three
  4. None

Ans: (c)

Answer 1- D

Explanation:

  • The Truenat platform is a rapid molecular test for the diagnosis of pulmonary, extrapulmonary, and rifampicin-resistant tuberculosis. Hence statement 1 is incorrect.
  • It is developed by Goa-based Molbio, a point-of-care molecular diagnostics company, Truenat was first launched in 2017 and is a real-time quantitative micro-PCR system. It was developed in India and has been hailed for its role in combating TB. Hence statement 2 is incorrect.
  • Truenat delivers results from samples in less than an hour and can test for over 40 diseases. Truenat has now entered global markets, with roughly 10,000 installations worldwide. TrueNat is used at over 7,000 primary health centres and community health centres under the National TB Elimination Programme and is also being used at roughly 1,500 private labs in the country. Hence statement 3 is incorrect.
  • The Truenat platform has been hailed for its role in combating TB and as a possible component of global healthcare solutions at the recently-held 77th World Health Assembly in Geneva. Hence statement 4 is incorrect.
  • Therefore, option D is the correct answer. 

China’s ‘grey-zone’ warfare tactics against Taiwan

Source: The Hindu 

https://www.thehindu.com/news/international/chinas-grey-zone-warfare-tactics-against-taiwan-explained/article68286636.ece#:~:text=While%20such%20sorties%20do%20not,before%20there%20is%20kinetic%20combat

UPSC Relevance: GS2- International Relations

Context: Chins-Taiwan Conflict

Why in News

  • Since the new Taiwanese president Lai Ching-te has assumed office, China’s belligerent response has been discussed about the ‘grey-zone’ warfare which comprises elements that frustrate Taiwan in a sustained manner.

Background 

  • Since the new Taiwanese president Lai Ching-te has assumed office, all eyes have been on the rocky start to his tenure. 
  • While China’s belligerent response to Mr. Lai’s “pro-independence” and “secessionist” statements was striking, it has now resorted to a sophisticated ploy to respond to Mr. Lai’s Democratic Progressive Party (DPP). 
  • This is often referred to as ‘grey-zone’ warfare, which comprises elements that frustrate Taiwan in a sustained manner.

What has China done?

  • China’s preparedness to invade Taiwan and fight a high-intensity war over the island is a much-debated subject. 
  • Training drills in the People’s Liberation Army Eastern Theater Command (PLA ETC) are targeted precisely at demonstrating China’s ability to fight and win. 
  • However, a more cognitive tool that Beijing is deploying to demonstrate this ability is simulated audiovisuals. 
  • On May 24, for example, the PLA ETC Weibo account released a 3D animation video depicting how in an invasion scenario, land-and warship-based ballistic missile launchers would fire tens of missiles at one go, striking areas in Taipei and Kaohsiung.
  • Moreover, since 2020, the X account of the Taiwanese Ministry of National Defence has turned into a repository of reportage on daily sorties conducted by PLA fighter jets, unmanned aerial vehicles (UAVs), strategic fighters and early warning aircraft. 
  • While such sorties do not engage the island’s defence forces directly, they exert sustained pressure on them. 
  • Further, these UAVs also conduct intelligence work in the areas surrounding the island. 
  • The long-term presence of such mobilisation induces wear-out within Taiwanese forces, even before there is kinetic combat.

Ideological Conflict between India Taiwan

  • To build a favourable image for itself, Beijing often deploys narratives within Taiwanese territory that thrust ideological choices upon its citizens. 
    • For example, sometime on May 25, just under a week after Mr. Lai assumed office, internet users in Taiwan observed a Youtube video of a Chinese citizen operating a drone to drop cardboard boxes on Kinmen island. 
  • When investigated by the Kinmen Defence Command on May 26, the boxes unveiled fliers written in simplified Chinese, stating “Both sides of the Taiwan Strait belong to one China, one Chinese nation. 
  • The Kinmen Command stated that this was “a typical cognitive warfare tactic” deployed by China, because it initiates public discussions on social media, and garners attention for the Chinese cause. 

Political tactics used by China 

  • In its ‘carrots and sticks’ approach towards Taiwan, Beijing deploys sticks for the DPP and carrots for its primary opposition party, the Kuomintang (KMT). 
  • The KMT continues to engage with Communist Party (CPC) officials, even as any meaningful communication between the DPP and the CPC has stalled since Ms. Tsai became President of Taiwan in 2016. 
  • DPP legislators have often described these engagements as KMT’s “collusion” with the CPC. 
  • In fact, KMT officials have, in the past, been investigated by the Tsai administration under the ‘anti-infiltration law’ after their visits to China.
  • China’s ‘sticks’ against the DPP entail coercive economic measures, which leverage the cross-strait trade and business interdependence to seek concessions. 
  • One such example is China’s unilateral suspension of preferential tax rates for chemical imports from Taiwan, granted under the only trade agreement to exist between the two sides — the Economic Cooperation Framework Agreement (ECFA). 
  • Beijing announced that such a suspension, applicable to 134 items imported from Taiwan, is retaliation against Mr. Lai’s propagation of “separatist” sentiments in his inaugural speech, as well as Taipei’s own restrictions against imports of over 2,000 goods made in China.
  • Mr. Lai’s electoral victory revolves around ‘3Ds’ — defence, deterrence and diplomacy. Maintaining the balance between pursuing them and avoiding Chinese provocation will be a tight-rope walk. 
  • As ‘grey-zone’ warfare tactics become a subject of deliberation, Mr. Lai will have much to grapple with during his tenure.

What is the strategic importance of Taiwan? 

  • Taiwan sits in the so-called “first island chain”, which includes a list of US-friendly territories that are crucial to Washington’s foreign policy in the region.
  • China’s increasingly aggressive behaviour in the South China Sea has also made Taiwan more significant to US calculations.
  • Taiwan’s economy is another factor. Much of the world’s electronics – from phones to electric cars – are powered by computer chips made in Taiwan. By one measure, a single Taiwanese company – the Taiwan Semiconductor Manufacturing Company or TSMC – has over half of the world’s market.
  • If China takes the island, it could be freer to project power in the western Pacific and rival the US. Beijing would also have control over an industry that drive the global economy.

Grey-zone warfare

  • Grey zone warfare generally means a middle, unclear space that exists between direct conflict and peace in international relations.
  • The gray zone describes a set of activities that occur between peace (or cooperation) and war (or armed conflict). 
  • A multitude of activities fall into this murky in-between—from nefarious economic activities, influence operations, and cyberattacks to mercenary operations, assassinations, and disinformation campaigns. 
  • Generally, gray-zone activities are considered gradualist campaigns by state and non-state actors that combine non-military and quasi-military tools and fall below the threshold of armed conflict.
  • In grey-zone warfare, adversaries employ tactics such as cyberattacks, economic coercion, and proxy conflicts to achieve their goals without directly engaging in open warfare. 
  • It blurs the lines between peace and conflict, posing significant challenges to international security and stability.
CARE MCQ UPSC PYQ
Q2. Which of the following statements best describes grey zone warfare?

A) Grey zone warfare represents a clear distinction between peace and conflict in international relations.

B) The grey zone encompasses activities that fall between peaceful cooperation and armed conflict, including economic coercion, cyberattacks, and disinformation campaigns.

C) Grey zone activities are characterized by open declarations of war and direct military engagement.

D) Adversaries in grey zone warfare typically avoid the use of non-military and quasi-military tools.

 

Q. “Belt and Road Initiative” is sometimes mentioned in the news in the context of the affairs of : (2016)

(a) African Union

(b) Brazil

(c) European Union

(d) China

Ans: D

Answer 2– B

Explanation – 

  • Grey zone warfare involves a range of activities that occur between peace and conflict, such as economic coercion, cyberattacks, and disinformation campaigns. These activities are often used by state and non-state actors to achieve their goals without crossing the threshold of open warfare. 
  • The term “grey zone” reflects the ambiguity and uncertainty surrounding these actions, which blur the lines between traditional concepts of peace and conflict in international relations.
  • Therefore, option B is the correct answer. 

Ancient Greek sanctuary slowly sinks into the Aegean Sea

Source: The Hindu

https://www.thehindu.com/news/international/ancient-greek-sanctuary-slowly-sinks-into-the-aegean-sea/article68283994.ece

UPSC Relevance: GS2- International Relations

Context: Delos’ 2,000-year-old buildings offer a microcosm of information on daily life during the Hellenistic and Roman periods.

Why in News

  • UNESCO heritage site of Delos, is one of the most important sanctuaries of the ancient Greek and Roman world.

About Delos

  • Delos is the UNESCO heritage site with one of the most important sanctuaries of the ancient Greek and Roman world.
  • It is the tiny Aegean Sea island’s silent drama could not be more at odds with the bustle of neighbouring Mykonos, which attracts hundreds of thousands of visitors annually.
  • The worst structural damage is visible in an area that once housed trade and storage buildings in the first and second centuries BCE and is not accessible to visitors.

Cultural background

  • To the ancient Greeks, Delos was the birthplace of Apollo, god of light, arts and healing, and of his sister Artemis, goddess of the hunt.
  • The siblings were among the chief deities honoured by both the Greeks and the Romans.
  • At the height of its acclaim during the Roman era, Delos attracted pilgrims and traders from across the ancient world and ultimately grew to a bustling city of some 30,000 people.
  • But the island’s popularity proved its undoing. It was looted twice in the first century BCE and eventually abandoned altogether.

Reasons of Degradation 

    • Seawater eroding walls: 
      • Water enters the stores in winter. It eats away at the base of the walls.
      • In the space of 10 years, the sea level has risen by up to 20 metres (66 feet) in some parts of the island.
  • Increased temperature: 
      • A study by Aristotelio University in Thessaloniki last year found that increasing temperatures combined with high levels of humidity can significantly affect the chemical composition of certain materials used in cultural heritage monuments.
      • Just like the human body, monuments are built to withstand specific temperatures.
  • Tourists:
    • A steady stream of tourists from Mykonos, who often veer away from permitted areas, constitute an additional problem.
    • In the summer, only a handful of archaeologists are at hand to supervise.

About UNESCO World Heritage Sites (WHS)

  • A WHS is a landmark or area with legal protection by an international convention administered by UNESCO.
  • WHS are designated for their cultural, historical, scientific, or other forms of significance.
  • 1972 Convention Concerning the Protection of the World Cultural and Natural Heritage established the framework for preserving the world’s outstanding heritage.
  • 191 State Parties, including India, have ratified the World Heritage Convention.
  • There are currently 1,172 World Heritage Sites across 166 countries.
  • World Heritage Fund supported by member contributions, provides assistance for preserving sites.
  • Sites must demonstrate Outstanding Universal Value (OUV) by meeting criteria defined in the Convention.
  • International Council on Monuments and Sites (ICOMOS) and the International Union for Conservation of Nature (IUCN) assess nominated sites.
  • Criteria for Cultural Sites: Six criteria for significance related to human creative genius, cultural interchange, unique testimony, outstanding examples of architecture, tradition, and events.
  • Criteria for Natural Sites: Four criteria for significance related to natural phenomena, Earth’s evolutionary history, ecological processes, and biological diversity.
  • Legal Status: Once inscribed, each site remains the property of the state it belongs to, with shared responsibility for its preservation and protection.
CARE MCQ UPSC PYQ
Q3.  Consider the following statements:

  • Delos is a small island located in the Caspian Sea, part of the Cyclades archipelago in Greece.
  • It is considered as the birthplace of Apollo, the god of light, arts, and healing, and his sister Artemis, the goddess of the hunt.  
  1. Delos was declared as a UNESCO World Heritage Site in 1994.

Which of the above statements are correct?

  1. 1 and 2 only
  2. 2 only
  3. 1 only
  4. 1, 2 and 3
Q. If the RBI decides to adopt an expansionist monetary policy, which of the following would it not do? (2020)

  1. Cut and optimize the Statutory Liquidity Ratio
  2. Increase the Marginal Standing Facility Rate
  3. Cut the Bank Rate and Repo Rate

Select the correct answer using the code given below:

(a) 1 and 2 only

(b) 2 only

(c) 1 and 3 only

(d) 1, 2 and 3

Ans: (b)

Answer 3 B

Explanation

    • Delos is a small island located in the Aegean Sea, part of the Cyclades archipelago in Greece. Statement 1 is incorrect.
    • Its ancient ruins date back to the 3rd millennium BCE. It is considered as the birthplace of Apollo, the god of light, arts, and healing, and his sister Artemis, the goddess of the hunt.  Statement 2 is correct.
    • Delos was declared as a UNESCO World Heritage Site in 1990.Statement 3 is incorrect.
  • Therefore, option B is the correct answer.

Kavli Prize- Nobel in fields of astrophysics, neuroscience, and nanoscience

Source: Indian Express

https://indianexpress.com/article/explained/explained-sci-tech/explained-kavli-prize-9391030/

UPSC Syllabus Relevance: Awards and Honours, GS 3- Science and technology

Context:  Kavli Prize, mirroring Nobel in fields of astrophysics, neuroscience, and nanoscience

Why in News 

  • Eight winners of 2024 Kavli Prize were awarded for their contributions to astrophysics, neuroscience, and nanoscience.

About Fred Kavli

  • The Kavli Prize is awarded in honour of Norwegian-American businessman and philanthropist Fred Kavli (1927-2013).
  • Born in Erejsford, Norway, Kavli moved to California in 1956 after getting an engineering degree. 
  • In the US, he began working for a company which built high-tech sensors for missiles, becoming its chief engineer within a year.
  • In 1958, he started his own enterprise, founding Kavlico. Today, the company is a leading manufacturer of pressure sensors and related systems, which are used in all kinds of industries, from aviation to home appliances. 
  • Kavlico’s pressure transducers (devices which convert pressure into an electric signal) are known for their high accuracy, stability, and reliability.
  • In 2000, Kavli sold his company for $ 340 million, and established the Kavli Foundation, with the aim to support wide-ranging basic research to improve the quality of life for people worldwide. 
  • The foundation runs 20 institutes which specialise in astrophysics, neuroscience, nanoscience, and theoretical physics

Nobel comparisons 

  • The Kavli Prizes are awarded in three areas: astrophysics, nanoscience and neuroscience — the largest, the smallest, and the most complex. 
  • The inaugural prize was announced in 2008, and awarded to seven scientists. Till date, 73 scientists from 19 countries have been honoured with the biennial award. Ten of them have gone on to win the Nobel Prize.
  • In fact, the Kavli Prize was designed to be like the Nobel in the fields of astrophysics, neuroscience, and nanoscience. But it is more far-reaching in its outlook. 

The Nobel Prize 

  • As per the will of Alfred Nobel, the Nobel Prize is only awarded for achievements made “during the preceding year”. But the Kavli Prize does not operate under such a restriction.
  • The prize comprises a $1 million cash prize (per field), a scroll, and a medal, 7 cm in diameter. 
  • The award ceremony is more flamboyant than the one for the Nobel, with a red carpet rolled out for invitees.
  • Along with the US-based Kavli Foundation, the prize is given in partnership with the Norwegian Academy of Science and Letters, and the Norwegian Ministry of Education and Research.
  • Three independent selection committees review entries to present a unanimous recommendation to The Norwegian Academy of Science and Letters. 
  • Each committee comprises five members, who are nominated by science institutes around the world, including the Chinese Academy of Sciences, the French Academy of Sciences, Germany’s Max Planck Society, the National Academy of Sciences in the US, and the Royal Society in the UK.
  • The award ceremony this year is scheduled to take place on September 3, at the Oslo Concert Hall. 
  • The Norwegian Royal Family will be handing out the prizes.

Winners in 2024

All eight scientists awarded the Kavli Prize this year are professors at leading American universities.

ASTROPHYSICS: 

  • This year’s prize for astrophysics has been awarded to David Charbonneau of Harvard University, and Sara Seager, of the Massachusetts Institute of Technology. 
  • The duo have been recognised for discoveries of exoplanets, and the characterisation of their atmosphere. 
  • The citation states that the contributions of Charbonneau and Seager included pioneering “methods for the detection of atomic species in planetary atmospheres and the measurement of their thermal infrared emission, thus setting the stage for finding the molecular fingerprints of atmospheres around both giant and rocky planets”.

NANOSCIENCE: 

  • Robert Langer of MIT, Armand Paul Alivisatos of the University of Chicago, and Chad Mirkin of Northwestern University were given the prize for nanoscience. 
  • Langer was recognised for his breakthrough idea of nano-engineering a material for the controlled release of therapeutic bio-molecules, which could help the development of controlled drug delivery systems to treat diseases like aggressive brain cancer, prostate cancer and schizophrenia. 
  • Alivisatos devised semiconductor crystals or “quantum dots” which could be used as multi-colour fluorescent probes in bio-imaging. 
  • Today these are used for diagnostic imaging of patients, and helping research in fundamental medicine and biology. 
  • Mirkin introduced the concept of spherical nucleic acid (SNA), a new class of nucleic acids that are densely functionalised and oriented spherically around a nanoparticle core. 
  • SNAs have wide-ranging use in areas like intracellular detection, gene regulation and immunotherapy.

NEUROSCIENCE: 

  • The prize in neuroscience has been awarded to Nancy Kanwisher of MIT, Winrich Freiwald of Rockefeller University, and Doris Tsao of the University of California at Berkeley. 
  • The trio have been awarded for their collective effort over decades to map the linkage between facial recognition and the brain. 
  • While Kinwisher identified the exact brain’s centre for face processing, Tsao and Freiwald took this knowledge forward using functional imaging and recording from individual brain cells to map out the neural architecture of the human brain.
CARE MCQ UPSC PYQ
Q 4. Which of the following statements with regards to Kavli Prizes is/are correct?

  1. The Kavli Prizes are awarded in three areas: astrophysics, nanoscience and neuroscience.
  2. Similar to the Nobel Prize, Kavli Prize is also awarded only for achievements made during the preceding year.  
  3. 2024 Kavli prize for astrophysics has been awarded to Armand Paul Alivisatos. 
  4. The prize in neuroscience has been awarded to the trio Nancy Kanwisher, Winrich, and Doris Tsao. 

Select the correct answer using the code given below:

A. Only one 

B. Only two 

C. Only three 

D. All four 

Q. Consider the following statements in respect of Bharat Ratna and Padma Awards (2021)
1. Bharat Ratna and Padma awards are titles under the Article 18 (1) of the Constitution of India.
2. Padma Awards, which were instituted in the year 1954, were suspended only once.
3. The number of Bharat Ratna Awards is restricted to a maximum of five in a particular year.
Which of the above statements are not correct?a. 1 and 2 only

b. 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: D

Answer B

Explanation

  • The Kavli Prizes are awarded in three areas: astrophysics, nanoscience and neuroscience. Hence statement 1 is correct.
  • As per the will of Alfred Nobel, the Nobel Prize is only awarded for achievements made “during the preceding year”. But the Kavli Prize does not operate under such a restriction. Hence statement 2 is incorrect.
  • This year’s prize for astrophysics has been awarded to David Charbonneau of Harvard University, and Sara Seager, of the Massachusetts Institute of Technology. Hence statement 3 is incorrect.
  • The prize in neuroscience has been awarded to Nancy Kanwisher of MIT, Winrich Freiwald of Rockefeller University, and Doris Tsao of the University of California at Berkeley.  The trio have been awarded for their collective effort over decades to map the linkage between facial recognition and the brain. Hence statement 3 is correct.
  • Therefore, option B is the correct answer.   

Launch of Nifty EV Index 

Source: DownToearth

https://www.downtoearth.org.in/blog/economy/launch-of-nifty-ev-index-marks-the-arrival-of-the-ev-era-96669

UPSC Syllabus Relevance:  GS3- Capital market, Economy

Context: India’s first electric vehicle (EV) index, named the Nifty EV & New Age Automotive Index.

Why in news 

  • The National Stock Exchange of India (NSE) recently launched India’s first electric vehicle (EV) index, named the Nifty EV & New Age Automotive Index.

Stock Index

  • A stock index is a group of shares from a single exchange that are used as benchmarks to evaluate an investment’s performance against others. 
  • It typically measures the price performance of the basket of company stocks using a standardised methodology. 
  • Some of the important indexes in India are 
    • the BSE Index, which puts together 30 well-established and financially sound companies listed on the Bombay Stock Exchange, and 
    • Nifty 50, which represents the weighted average of 50 of the largest Indian companies listed on NSE.

Nifty EV & New Age Automotive Index

  • Nifty EV & New Age Automotive Index will track the performance of companies involved in manufacturing EVs, batteries, charging infrastructure and other critical components of the electric vehicle ecosystem.
  • The base date for the Nifty EV index is April 02, 2018, and the base value is 1,000. 
  • The index will be reorganised twice a year and rebalanced every quarter to align with market trends. 
  • The index will have 33 companies, including Bajaj Auto, Tata Motors, Mahindra & Mahindra, Maruti Suzuki, Exide Industries, Bosch, Samvardhana Motherson International, Eicher Motors, CG Power and Industrial Solutions and Himadri Speciality Chemical.

Significance of Nifty EV & New Age Automotive Index

  • The Nifty EV Index will offer an opportunity to investors to capitalise on the growing electric vehicle market. 
  • It will facilitate creation of financial products that will help fund managers to invest in the EV and new age automotive market, thereby providing an investment vehicle to investors. 
  • With this index, investors can have exposure to the entire electric vehicle sector in one place. 
  • As EV demand is expected to grow, the stocks of companies included in this index are also expected to perform well.

EV Sector in India

  • The EV sector in India has been on a high, thanks to support from government subsidies for adoption and supply side incentives to promote India as a manufacturing destination for EVs. 
  • The vision behind the EV policies is to promote domestic manufacturing of EVs in the country and attract investments by reputed global EV manufacturers, thereby giving an impetus to the Make in India initiative.
  • Electric vehicle sales data for FY2024 point at positive trends which will have an impact on regional demand patterns and the supply-chain. 
  • EV sales rose 10.78 per cent from FY21 to FY24. 
  • In FY24, the number of units sold increased to 1,677,515, from 1,183,343, with year-on-year growth of 41.76 per cent.
CARE MCQ UPSC PYQ
Q5.  Consider the following statements:

1. The National Stock Exchange of India (NSE) recently launched India’s first electric vehicle (EV) index, named the Nifty EV & New Age Automotive Index.

2. The base date for the Nifty EV index is April 02, 2018, and the base value is 1,000.

Which of the statements given above is/are incorrect?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2
Q. Consider the following markets: (2023)

1. Government Bond Market

2. Call Money Market

3. Treasury Bill Market

4. Stock Market

How many of the above are included in capital markets?

  1. Only one
  2. Only two
  3. Only three
  4. All four

Ans: (b)

Answer 5 D

Explanation

  • The National Stock Exchange of India (NSE) recently launched India’s first electric vehicle (EV) index, named the Nifty EV & New Age Automotive Index. Nifty EV & New Age Automotive Index will track the performance of companies involved in manufacturing EVs, batteries, charging infrastructure and other critical components of the electric vehicle ecosystem.
  • Hence Statement 1 is correct.
  • The base date for the Nifty EV index is April 02, 2018, and the base value is 1,000. The index will be reorganised twice a year and rebalanced every quarter to align with market trends. 
  • Hence Statement 2 is correct.
  • Therefore, option D is the correct answer. 

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top