Current Affairs for UPSC, SSC, Banking: February 7, 2017

One stop for all your Current Affairs needs for UPSC IAS 2017, SSC CGL 2017, Bank PO 2017 and other Competitive Exams

India to freeze production of Hydroflourocarbons by 2028

Addressing the alarming issue of global warming and to facilitate enough carbon space for the growth of domestic industry in the economy, India has agreed to freeze the production and consumption of Hydrofluorocarbons (HFCs) by the year 2028 and gradually reduce it from 2032 onwards. 

Highlights:

  • The statement came from the Environment Minister of India, after India committed to the cause during the 28th meeting of Parties to Montreal Protocol held in Kigali, Rwanda.
  • As per the agreement reached in Kigali: “India will freeze its manufacturing and consumption of HFCs in 2028 and start reducing it from 2032 to 2047 with reference to the base line years 2024, 2025 and 2026”.
  • India has agreed to phase out 10 per cent of HFCs in 2032, 20 per cent in 2037, 30 percent in 2042 and 85 per cent in 2047, he said, adding that the freeze year was subject of technology review and could be further deferred to 2030.
  • India represents around 2 per cent of the global production and consumption of HFCs but our manufacturing and consumption sector is expected to grow at a rapid pace in future and with that it will be important to sustain the targeted production of HFCs
About HFCs

Hydrofluorocarbons (HFCs),organic compounds that contain fluorine and hydrogen atoms, are the most common type of organofluorine compounds. They are commonly used in air conditioning and as refrigerants in place of the older chlorofluorocarbons such as R-12 and hydrochlorofluorocarbons such as R-21. They do not harm the ozone layer as much as the compounds they replace; however, they do contribute to global warming.

Country’s Solar Power generation capacity crosses 9 gw

Country’s solar power generation capacity stood at over 9 GW as on December 31, 2016 with Tamil Nadu having the largest output capability followed by Rajasthan and Gujarat.

  • The country’s total power generation capacity stood at 9 GW as on December 31, 2016.
  • Gujarat contributed with 1.16 GW while Rajasthan and Tamil Nadu contributed 1.32 GW and 1.6 GW respectively.
How is the government promoting Solar Power?
  • The government is promoting solar energy through fiscal and promotional incentives.
  • These incentives include capital and/or interest subsidy, tax holiday on the earnings for 10 years, generation-based incentive, accelerated depreciation, viability gap funding (VGF).
  • Financing solar rooftop systems as part of home loan.
  • Concessional excise and custom duties.
  • Preferential tariff for power generation from renewables.
  • Foreign investment up to 100 per cent under the automatic route, etc.

India to host the FIBA Women’s Asia Cup 2017

  • India will host the FIBA Women’s Asia Cup basketball tournament in July 2017, according to an official statement by the Basketball Federation of India.
  • The Event will be held in Bengaluru, Karnataka, from July 23 to 29, 2017.
About FIBA
  • FIBA stands for International Basketball Association,  is an association of national organizations which governs international competition in basketball.

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