Current Affairs for IAS Exams - 17 May 2021

::NATIONAL::

Ministry of Finance's Special Window for Affordable & Mid-Income Housing (SWAMIH) fund has completed its first residential project.

About SWAMIH:

In November 2019, the Centre had announced setting up SWAMIH Investment Fund to provide relief to developers with unfinished projects to ensure delivery of homes to buyers.
The Fund so far has given its final approval to 72 projects.
Fund is bridging the trust deficit between homebuyers and developers by completing construction without depending on any other source of finance.

Cyclone ‘Tauktae’, which lay as a deep depression over the Arabian Sea close to Lakshadweep.
It was likely to intensify into a ‘very severe cyclonic storm’ with wind speeds of 150-160 kmph gusting to 175 kmph by Sunday morning, bringing heavy to very heavy rain to many parts of the western coast.
There is yet not clear whether the cyclonic storm will cross the Gujarat coast or just skirt it by May 18.
It is very likely to intensify into a cyclonic storm during the next 12 hours and is very likely to intensify further during the subsequent 24 hours and move north, north-westwards.

Recently, Punjab Cabinet decided to join the Global COVAX Alliance, as first Indian state to do so because of vaccine shortage.

About COVAX Alliance:

COVAX, short for COVID-19 Vaccines Global Access.
It is a worldwide initiative co-led by Coalition forEpidemic Preparedness Innovations (CEPI), Gavi and the World Health Organization (WHO), alongside key delivery partner UNICEF.
It coordinates international resources to enable equitable access to COVID-19 tests, treatments, and vaccines.

Recently, the 1st BRICS EWG meeting was held in virtual format.
Apart from representatives of member nations i.e., Brazil, Russia, India, China and South Africa, the representatives of International LabourOrganization (ILO) etc.
They have also made valuable interventions and suggestions on the agenda issues.

About BRICS:

The acronym BRIC was coined by Goldman Sachs in 2001 to indicate the emerging powers.
India has assumed the BRICS Presidency this year. It is India’s 3rd BRICS Presidency since its inception, after 2012 and 2016.

Government of India is making available fertilizers, namely Urea and 22 grades of Phosphatic & Potassic (P&K) fertilizers including Di-ammonium Phosphate (DAP), Muriate of Potash (MOP)& Single Superphosphate (SSP) to farmers at subsidized prices through fertilizer manufacturers/ importers.

About:

The subsidy on P&K fertilizers is being governed by NBS Scheme w.e.f 01.04.2010.
The Government is committed to ensure the availability of P&K fertilizers to the farmers at affordable prices.
The subsidy is released to fertilizer companies as per Nutrient based subsidy rates so that they can make available fertilizers to farmers at affordable price.
As a first step, Government has already directed all the fertilizers companies to ensure the sufficient availability of these fertilizers in the market for farmers.
Availability of fertilizers in the country is being daily monitored by the Government.

This aerial defence system of Israel intercepted a Hamas Unmanned Aerial Vehicle (UAV) that crossed from Gaza.
It is a multi-mission system capable of intercepting rockets, artillery, mortars and Precision Guided Munitionslike very short-range air defence (V-SHORAD), aircraft, helicopters and UAV over short ranges of up to 70 km.
It is an all-weather system and can engage multiple targets simultaneously.
It can be deployed over land and sea.