GS – 2
International
OPEC and Russia approve biggest Oil Cuts:
- The Organization of Petroleum Exporting Countries (OPEC) and Russia have come together to cut oil output by 10%.
- This is done to control the falling oil prices amidst lock down all over the world due to COVID-19.
Foreground
- The Russian Government earlier denied to sign the deal when Saudi Arabia initiated production cuts. Russian petroleum exports were badly hit due to the CAATSA imposed by Russia. Hence, Russian market began to turn in towards the its own country markets.
- Russia in fact began to increase its production since then. Russia had planned to boost its production to 500,000 bpd to fulfil its own energy demands and also to suffice its export destinations.
- The OPEC asked Russia to cut its production by 300,000 barrels per day. This will hit Russian economy badly.
Outcome of India
- The big consumer countries such as India, China, Japan and South Korea backed the deal to boost their reserves.
- This is because, the current deal on which OPEC members are supplying oil had come to an end by March 30, 2020.
- Though the new deal has made the biggest cuts, it will not cause major changes to price changes as the demand is unpredictably low.
- India’s petroleum reserves have now reached 60% of its holding capacity.
- This is the right time for the importing countries like India to fill in their reserves.
Role of US
- The deal was brokered by the US President and also by G20. The United States had a major role as it intended to protect its energy sector.
- The US shale sector was battered badly due to decline in oil prices.
National
BRO opened Srinagar-Leh highway:
- Border Roads organisation (Bro) opened the strategic Srinagar-Leh highway on April 11.
- The highway connects Ladakh with the rest of the world.
- Earlier some oil tanks and other essential commodities were allowed to move towards leh from Zojila pass.
Why was Srinagar-Leh highway closed?
- The 425 km Srinagar-Leh highway was closed since the month of December 2019 due to heavy snowfall at Zojila Pass.
- The Snow clearance operation were undertaken by project Beacon of BRO from Gagangir to Zero point and the same was done by project Vijayak from Drass towards zero point.
About BRO
- BRO is responsible to develop and maintain road networks in India’s border areas and friendly neighboring countries.
- It functions under the Ministry of Defence.
- It operates around 18 projects and serves in the region of India, Bhutan, Nepal, Myanmar, Afghanistan.
MHRD launched YUKTI web portal:
- Centre launched a Web portal “young India Combating COVID with knowledge, Technology and Innovation” (YUKTI) in New Delhi.
- Launched by the Union Minister for Human Resource Development Shri Ramesh Pokhriyal “Nishank.”
YUKTI portal
- YUKTI portal is a unique portal and dashboard to monitor and record the efforts and initiatives of the Ministry of Human Resource Development (MHRD).
- The portal aims to cover the different dimensions of COVID-19 challenges in a very holistic and comprehensive way.
- The primary aim is to keep the Indian academic community healthy, both physically & mentally. It also aims to enable a continuous high-quality learning environment for learners.
- The portal is an effort of MHRD to achieve the goal in these difficult times.
The portal will cover various initiatives and efforts of the institutions in academics, research especially related to COVID-19, social initiatives by institutions and the measures taken for the betterment of the total well-being of the students. - The portal will cover both qualitative and quantitative parameters for the effective delivery of services to the academic community at large.
- Through this portal, several institutions can share their strategies for various challenges to tackle COVID-19 and other future initiatives.
- The portal will give inputs for better planning and will enable MHRD to monitor effectively its activities for the coming six months.
- The portal focuses on establishing a two-way communication channel between the MHRD and the institutions in the country. Through this, the Ministry aims to provide the necessary support system to the institutions.
Red, Orange and Green Zones:
- According to the last PM meet, It has been concluded that India will enter into “smart Lockdown”.
- Under the smart lock down, India is to be demarcated into red, orange and green zones.
Red Zone: In this regions that were declared as hotspots. Here no economic activity is to be allowed.
Green zones: Along with farm activities, MSME industries will also begin to function.
These industries will provide in-house lodging facilities for employees along with social distancing facilities.
Orange zones: This is the regions where limited public transport is to be allowed. In these regions harvesting of farm products will also be allowed.