Daily Current Affairs- 17th March 2025

Daily Current Affairs 17th March 2025

Carbon Credit Trading Scheme in India

In the News: India is advancing its Carbon Credit Trading Scheme (CCTS) to establish a comprehensive carbon market, aligning with its climate commitments under the Paris Agreement.

Key Details:

• Regulatory Framework:
  • The Energy Conservation (Amendment) Act, 2022, empowers the central government to specify a carbon credit trading scheme.
  • The Carbon Credit Trading Scheme (CCTS), introduced in 2023, replaces the Perform, Achieve, and Trade (PAT) scheme, shifting focus from energy intensity to reducing greenhouse gas (GHG) emission intensity.
• Mechanisms:
  • The CCTS introduces carbon pricing through two key mechanisms:
    • Compliance Mechanism: Targets obligated entities with specific emission reduction requirements.
    • Voluntary Mechanism: Allows entities to participate voluntarily in carbon credit trading.
  • Carbon Credit Certificates (CCC):
    • Each CCC represents a one-tonne CO₂ equivalent (tCO₂e) reduction.
    • Obligated entities can purchase additional credits or sell surplus ones, while businesses can trade CCCs to offset their emissions.
  • Governance:
    • The National Steering Committee for Indian Carbon Market (NSCICM) oversees the functioning of the Indian Carbon Market (ICM).
    • The Bureau of Energy Efficiency (BEE) is responsible for implementing the provisions of the CCTS.
  • Implementation Timeline: The Indian carbon market is set for a 2026 launch, with the BEE director revealing plans for its operationalization.

PIL challenging the current practice of appointing the Comptroller and Auditor General of India (CAG)

In the News: On March 17, 2025, the Supreme Court of India issued a notice to the central government in response to a Public Interest Litigation (PIL) challenging the current process of appointing the Comptroller and Auditor General (CAG) of India.

Key Details:

• Current Appointment Process:
  • The CAG is presently appointed solely by the executive branch, specifically by the Prime Minister, without mandatory consultation with other authorities.
• Petitioner's Arguments:
  • The PIL, filed by the Centre for Public Interest Litigation (CPIL), contends that the existing appointment process undermines the independence of the CAG, violating constitutional principles.
  • It advocates for the establishment of an independent and neutral selection committee comprising the Prime Minister, the Leader of the Opposition, and the Chief Justice of India to ensure transparency and impartiality in the appointment process.
• Court Proceedings:
  • A bench of Justices Surya Kant and N Kotiswar Singh sought the central government's response to the PIL and tagged it with a pending matter on the same issue.
  • Advocate Prashant Bhushan, representing CPIL, emphasized concerns regarding the institution's independence, alleging that audits by the CAG in states like Maharashtra, where the BJP is in power, are being stalled.
• Constitutional Provisions:
  • Article 148 of the Indian Constitution outlines the appointment and duties of the CAG, providing the office with protections similar to those of a Supreme Court judge concerning removal from office.

Row around ‘land allotted to Muttiah Muralitharan’ in Jammu and Kashmir

In the News: The Jammu and Kashmir (J&K) Assembly recently witnessed heated debates over the alleged free land allotment to former Sri Lankan cricketer Muttiah Muralitharan's company, Ceylon Beverages, for establishing a bottling plant in Kathua district.

Key Details:

• Land Allotment: Ceylon Beverages was allocated 25.75 acres (approximately 206 kanals) in Kathua for a ₹1,600 crore project to set up an aluminium can manufacturing and beverage filling unit.
• Opposition's Concerns: Legislators from CPI(M) and Congress questioned the rationale behind granting land to a non-Indian entity, allegedly without any financial transaction, and demanded clarification from the government.
• Government's Response: The J&K administration defended the allotment, stating that all procedures were followed per the J&K Industrial Land Allotment Policy 2021-30, which permits land allocation to non-residents for industrial purposes.
• Project Status: Amid the controversy and expiration of certain incentives under the scheme in September 2024, Muralitharan has applied to withdraw the project from J&K and is considering relocating it to Pune, Maharashtra.

Protests in Kerala over the Centre’s offshore mining plan

In the News: Kerala is witnessing widespread protests against the Central government's decision to auction offshore sand mining blocks along its coast.

Key Details:

• Protests by Fisherfolk: Fishermen in Kollam and Alappuzha districts have staged protests opposing the offshore sand mining approvals, fearing adverse impacts on marine life and their livelihoods.
• Political Opposition: Both the Left Democratic Front (LDF) and United Democratic Front (UDF) MPs participated in a protest march in Delhi, demanding a complete halt to the deep-sea mining operations planned off Kerala's coast.
• Environmental Concerns: Critics argue that deep-sea mining could harm marine biodiversity, disrupt ecosystems, and exacerbate coastal erosion, thereby threatening the livelihoods of fishing communities.
• Legislative Actions: The Kerala Legislative Assembly unanimously passed a resolution urging the Centre to withdraw amendments to the Offshore Areas Mineral Development and Regulation Act, 2002, which facilitate deep-sea mineral mining off the coast.
• Community Mobilization: A 24-hour "coastal hartal" was observed, with fish landing centers and markets shutting down as fisherfolk protested against the offshore mining plans.
• Upcoming Protests: Fishing communities and allied unions have planned a march to Parliament on March 12 to further protest the offshore mining initiatives.

PM Modi-Christopher Luxon meeting: India, New Zealand ink defence pact

In the News: Indian Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon met in New Delhi, resulting in the signing of a defence cooperation agreement and the revival of free trade agreement (FTA) negotiations.

Key Details:

• Defence Cooperation:
  • The agreement aims to institutionalize defence and security partnerships, including joint military training, exercises, and port visits.
  • Both nations emphasize ensuring a free, open, secure, and prosperous Indo-Pacific region, countering expansionist policies.
• Free Trade Agreement (FTA) Negotiations:
  • After a decade-long hiatus, India and New Zealand have relaunched FTA negotiations, aiming to finalize the agreement by the end of 2025.
  • In 2023, India's exports to New Zealand totalled $682 million, while New Zealand's exports to India were $369 million.
• Economic and Sectoral Collaborations:
  • Agreements were signed to enhance cooperation in sectors such as food processing, pharmaceuticals, renewable energy, and critical minerals.
  • A memorandum on horticulture cooperation aims to develop post-harvest and marketing infrastructure, potentially benefiting the kiwi fruit industry.

Raisina Dialogue

In the News: The 10th edition of the Raisina Dialogue is being held in New Delhi from March 17 to 19, 2025, attracting global leaders and policymakers to discuss pressing geopolitical and geoeconomic issues.

• Prime Minister Narendra Modi inaugurated the Dialogue on March 17, 2025.
• New Zealand Prime Minister Christopher Luxon attended as the Chief Guest and delivered the keynote address.

• Theme: The 2025 edition's theme is "Kālachakra - People, Peace, and Planet," focusing on global challenges and opportunities.
• Participation: Representatives from approximately 125 countries, including ministers, former heads of state, military commanders, business leaders, technology experts, academics, and journalists, are participating.
• Thematic Pillars: Discussions are organized around six thematic pillars: (a) Politics Interrupted: Shifting Sands and Rising Tides, (b) Resolving the Green Trilemma: Who, Where, & How, (c) Digital Planet: Agents, Agencies, and Absences, (d) Militant Mercantilism: Trade, Supply Chains & the Exchange Rate Addiction, (e) The Tiger’s Tale: Rewriting Development with a New Plan, (f) Investing in Peace: Drivers, Institutions, & Leadership
• Notable Sessions:
  • "Compete and Cooperate: Securing the Future"
  • "Digital Planet: Agents, Agencies, and Absences"
  • "Investing in Peace: Drivers, Institutions, & Leadership"
• Side Meetings: External Affairs Minister S. Jaishankar met with global leaders, including Ghana's Foreign Minister Sam Okudzeto Ablakwa, to discuss enhancing development partnerships and South-South cooperation.
• Special Initiatives: Firstpost, in collaboration with the Observer Research Foundation, launched "The Ideas Pod," featuring discussions with professionals from foreign policy and geopolitics on topics like climate change, international security, economic inequality, and emerging technologies.