Chess Olympiad Torch Relay enters Western India after covering 20 cities in North India

The first-ever Chess Olympiad Torch Relay entered Western India today as it reached Jaipur today morning. After passing through Ajmer, torch relay will enter Ahmedabad and then travel to Kevadia, Vadodara, Surat, Dandi, Daman, Nagpur, Pune, Mumbai and Panjim. Thereafter the torch relay will enter the Eastern part of India, North-east India culminating at South India.

Why is it in news?

In the first leg of North India the torch travelled to 20 cities of Delhi, Jammu and Kashmir, Himachal, Punjab, Uttarakhand, Uttar Pradesh and Rajasthan in the last 10 days.

Highlights

·       The relay will cover a total of 75 cities, commemorating Azadi ka Amrit Mahotsav – 75 years of India’s independence. The first ever torch relay for Chess Olympiad was launched by the Prime Minister of India Shri Narendra Modi at the IG Stadium in New Delhi on June 19.

·       FIDE President Arkady Dvorkovich handed over the torch to the Prime Minister, who handed it over to Indian Chess legend Viswanathan Anand. Following the historic launch, the torch travelled to iconic locations including Red Fort in the national capital, the HPCA in Dharamshala, the Attari Border in Amritsar, the Taj Mahal in Agra and the Vidhan Sabha in Lucknow, among others.

·       Governor of Jammu and Kashmir Shri Manoj Sinha, Governor of Punjab Shri Banwarilal Purohit, Chief Minister of Uttar Pradesh Shri Yogi Adityanath, Union Minister of Youth Affairs and Sports Shri Anurag Singh Thakur, Union Minister of Law and Justice Shri Kiren Rijiju, etc remained some of the prominent dignitaries at the various Chess Olympiad torch relay events.

·       The torch relay events start with simul chess, where Grandmasters and dignitaries play the game with local athletes. Following the events, the torch travels to the various locations via a jeep. Besides, various cultural events take place including an interactive bus tour travelling from one city to another, a cultural parade varying from region to region which features young chess players’ community.

·       For the first time in the history of the prestigious competition, India not only hosts the 44th FIDE Chess Olympiad but is also the first country that starts off a torch relay that has been instituted by FIDE for the first time in the history of the competition which started in 1927. Being the host, India is set to field 20 players – their biggest ever contingent – at the 44th FIDE Chess Olympiad. India is entitled to field 2 teams each in the Open and Women’s category. Over 2000 participants will be representing at the event from 188 countries, highest in the history of the Chess Olympiad. The 44th FIDE Chess Olympiad will be held in Chennai from July 28 to August 10, 2022.

NITI Aayog and TIFAC Launch Report on Future Penetration of Electric Two-Wheelers in the Indian Market

100% Penetration by FY26–27 Forecasted in Optimistic Scenario; 72% by 2031 Where Current Incentives Are Withdrawn by 2024

NITI Aayog and TIFAC launched a report titled ‘Forecasting Penetration of Electric Two-Wheelers in India’, on 28 June.

Using a tool made by NITI Aayog and TIFAC, eight scenarios have been developed for analyzing the future penetration of electric two-wheelers in the country.

In an optimistic scenario, the report forecasts 100% penetration of electric two-wheelers in the Indian market by FY 2026–27. In another scenario, which is technology driven and where current incentives are withdrawn by 2024, the report predicts 72% penetration by 2031.

During the launch of the report, NITI Aayog CEO Amitabh Kant said, “This report provides a much-needed tool to the industry, researchers, academicians, and policymakers to analyze and respond to various scenarios. It can be replicated easily in other segments too, such as four-wheelers, without any hassle.”

The eight scenarios considered are:

1.    Challenged Diffusion

2.    Performance Driven

3.    Low Battery Cost

4.    Technology Driven

5.    Incentive Driven

6.    Battery Cost Challenged

7.    Same Performance

8.    Optimistic

The future scenarios have been constructed on the basis of three major factors that influence the market penetration of electric two-wheelers: (i) demand incentives (ii) cost of battery (iii) vehicle performance in terms of both range and power.

Four broad constraint levels have also been identified for the eight scenarios, in terms of installed vehicle manufacturing capacity and available charging infrastructure: (i) full constraint (where both vehicle production and charging infrastructure are constraints) (ii) production constraint (where only vehicle production is a constraint) (iii) charge constraint (where only the charging infrastructure is a constraint) (iv) no constraint.

Highlights:

·         In the ‘Technology Driven’ scenario, if an R&D programme manages to enhance the range and power of electric two-wheelers by 5% annually between FY 2023–24 and 2025–26, and by 10% in FY 2026–2027, then the penetration of electric-two wheelers may reach about 72% in FY 2031–32—even with no extension of demand incentives.

·         The sale of electric two-wheelers may cross 220 lakh units in FY 2028–29 under the ‘Optimistic’, ‘Same Performance’ and ‘Battery Cost Challenged’ scenarios. It may reach 180 lakh units under the ‘Technology-Driven’ scenario. Under the ‘Incentive Drive’ scenario, the sale is expected to reach only 55 lakh units in FY 2031.

·         If there is sufficient installed capacity of electric two-wheelers and charging infrastructure, then sale (which finally reaches about 250 lakh units) may at some point even surpass the production under the ‘Optimistic’, ‘Same Performance’ and ‘Battery Cost Challenged’ scenarios.

The report provides important insights into the required infrastructure, manufacturing capability, policies, and technology-development priorities in the area.

The scenarios can be used by government agencies, the industry, and academic/R&D institutions for evidence-based analysis of policies, market scenarios and technology development strategies.

Cabinet approves Deregulation of Sale of Domestically Produced Crude Oil

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved ‘Deregulation of Sale of Domestically Produced Crude Oil’, whereby Government has decided to cease allocation of crude oil and condensate w.e.f. 01.10.2022. This will ensure marketing freedom for all Exploration and Production (E&P) operators. The condition in the Production Sharing Contracts (PSCs) to sell crude oil to Government or its Nominee or Government Companies shall accordingly be waived off.

Why is it in news?

All E&P companies will now be free to sell crude oil from their fields in domestic market. Government revenues like Royalty, cess, etc. will continue to be calculated on uniform basis across all Contracts.  As earlier, exports will not be permissible.

Highlights

This decision will further spur economic activities, incentivize making investments in upstream oil and gas sector and builds on a series of targeted transformative reforms rolled out since 2014. The policies relating to production, infrastructure and marketing of oil and gas have been made more transparent with a focus on ease of doing business and facilitating more operational flexibility to operators/industry.

Background:

Government has carried out several progressive reforms in Exploration and Production (E&P) Sector in last eight years such as pricing and marketing freedom for gas, discovery of gas price through competitive e-bidding process, introduction of Revenue Sharing Contracts under Hydrocarbon Exploration Licensing Policy (HELP), etc. A large number of blocks have since been allotted through several bidding rounds. As a result of these efforts, allocation of acreage has almost doubled as compared to area awarded before 2014. Since February 2019, reforms have focussed on production maximization with no revenue sharing for difficult basins other than windfall gain.

Cabinet approves Memorandum of Understanding (MoU) between the Department of Science and Technology, India and Ministry of Trade and Industry, Singapore on Cooperation in the fields of Science, Technology and Innovation

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi was apprised of a Memorandum of Understanding (MoU) signed between the Department of Science and Technology of the Republic of India and the Ministry of Trade and Industry of the Government of the Republic of Singapore on Cooperation in the fields of Science, Technology and Innovation.  The MoU was signed in February 2022.

Why is it in news?

The MoU will provide a mechanism and help in creating and ecosystem that will promote innovation and entrepreneurship in both countries leading to new technology creation, manpower training, IP generation through collaboration.

Highlights

·       The new knowledge and technology development through activities implemented under this cooperation will provide impetus to Atmanirbhar Bharat. The MoU will provide a mechanism and help in creating an ecosystem that will promote innovation and entrepreneurship in both countries leading to new technology creation, manpower training, IP generation through collaboration. The activities envisaged in the MoU will involve product development and technology exchange which may lead to generation of new enterprises and employment.

·       The objective of this Memorandum is to encourage, develop and facilitate cooperation between India and Singapore in fields of common interest in science, technology and innovation. Priority will be given to collaboration within any area of mutual interest that can advance progress in research, innovation and technological development including:

a.     Agriculture and food science and technology;

b.    Advanced manufacturing and engineering;

c.     Green economy, energy, water, climate and natural resources;

d.    Data science, Emerging Technologies;

e.     Advanced Materials; and

f.      Health and biotechnology.

·       Other areas of common interest will be included through mutual consent.

Cabinet approves Strategic Partnership Agreement between the Ministry of New and Renewable Energy (MNRE), India and the International Renewable Energy Agency (IRENA)

Why is it in news?

The Union Cabinet chaired by the Prime Minister Sh. Narendra Modi was apprised of a Strategic Partnership Agreement signed between the Ministry of New and Renewable Energy (MNRE), Government of India and the International Renewable Energy Agency (IRENA).   The Agreement  was signed in January 2022.

Highlights

The aim of the Agreement is to drive ambition, leadership and knowledge on green energy transitions based on renewable energy in India. The Agreement will help India’s energy transition efforts and will also help the world in combating climate change.

·       The areas of cooperation as envisaged in the Strategic Partnership Agreement will support India in achieving its ambitious target of 500 GW of installed non-fossil fuel electricity capacity by 2030. This in-turn will promote Atmanirbhar Bharat.

·         The salient features of the Agreement include enhanced cooperation in the following areas:

       i.            Facilitating knowledge sharing from India on scaling-up renewable energy and clean energy technologies

    ii.            Supporting India’s efforts on long term energy planning

 iii.            Collaborating to strengthen the innovation climate in India

 iv.            Moving towards cost-effective decarbonisation through catalysing development and deployment of green hydrogen.

·         Thus, the Strategic Partnership Agreement will help India’s energy transition efforts and will also help the world in combating climate change.