7 July 2025 Current Affairs (With PDF)

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Central Government Unveils Aluminium & Copper Vision Documents

Announced at

International Conference on Sustainable and Responsible Mining

• Venue: Hyderabad
• Organizer: Indian National Committee of World Mining Congress

Key Highlights

Purpose of the Vision Documents

1. Long-term strategy to:

• Meet growing domestic demand
• Ensure raw material security

2. Copper Vision Document

• Demand: Anticipates 6-fold increase by 2047
• Capacity Expansion: Plan to add 5 MTPA smelting & refining capacity by 2030

3. Aluminium Vision Document

• Production Target: Scale up aluminium production 6-fold by 2047
• Raw Material: Expand bauxite production capacity to 150 MTPA

Distribution of Resources

1. Aluminium / Bauxite

a. India:

• Reserves:

- Odisha (41%) largest
- Followed by Chhattisgarh, Andhra Pradesh

• Production: Odisha 73% of India’s output

b. World:

• Top Producer: China (58% of global production)
• Others: Australia, Brazil, India

2. Copper

a. India:

• Reserves:

- Rajasthan (52.25%)
- Madhya Pradesh
- Jharkhand

• Production (2022–23):

- Madhya Pradesh 57%
- Rajasthan 43%

b. World:

• Largest Reserves: Chile (19% of global reserves)
• Others: Peru, Australia (10% each)

India–Africa Relations: Latest Highlights

Overview

• Occasion: Indian PM’s State visit to Ghana
• Focus: India reaffirmed itself as a committed partner in Africa’s development, seeking growth as equal partners.

Emerging Dimensions of India-Africa Partnership

1. Amplification of Global South Voice

• Inclusion of African Union as a permanent G20 member during India’s Presidency (2023)

2. Joint Partnerships

• Asia–Africa Growth Corridor (AAGC) with Japan for sustainable development

3. Developmental Framework

• India backs Agenda 2063, Africa’s strategic vision

4. Economic Engagement

• 4th largest trading partner (~USD 100 billion bilateral trade, USD 75 billion cumulative investments)

5. Reformed Multilateralism

• Calls for greater African representation in global institutions, esp. UN Security Council
• Supports Ezulwini Consensus

6. Renewable Energy & Climate Action

Cooperation through:

• International Solar Alliance (ISA)
• Global Biofuel Alliance
• Coalition for Disaster Resilient Infrastructure (CDRI)

7. Capacity Building

• Supporting ‘Educate an African Fit for the 21st Century’ (AU initiative)
• Training & scholarships

8. Cultural Ties

• e-Visa facilities extended to African countries

Key Challenges

• China’s Dominance: Belt and Road Initiative (BRI), aggressive financing, infrastructure diplomacy
• Project Implementation Issues: Delays and non-completion of projects
• Nuclear Disagreement: South Africa supports global non-proliferation treaties; India resists citing discriminatory provisions

Strategic Vision

Engagement guided by:

• Vision SAGAR: Security and Growth for All in the Region
• Expanded to Vision MAHASAGAR: Mutual and Holistic Advancement of Security and Growth Across Regions (for the Global South)

PNGRB Second Amendment to Natural Gas Pipeline Tariff Regulations, 2025

Aim

To build a transparent, consumer-oriented, investment-friendly gas infrastructure aligned with One Nation, One Grid, One Tariff.

Key Reforms

1. Streamlined Tariff Zones

• Unified Tariff Zones reduced from 3 - 2
• Simplifies the natural gas transportation system

2. CNG & PNG (Domestic) Boost

a Unified Zonal Tariff of Zone 1 extended nationwide to:

• Compressed Natural Gas (CNG)
• Piped Natural Gas (PNG) Domestic

b. Will lower costs for households and transport

3. Efficient Fuel Procurement Mandate

a. Pipeline operators must procure at least 75% of annual system-use gas via long-term contracts (≥3 years)

b. Impact:

• Reduce procurement risks
• Lower transaction costs
• Enhance price stability

4. Pipeline Development Reserve

a. Created using earnings from pipeline entities exceeding 75% utilization benchmark

b. Use of Reserve:

• 50% reinvested in pipeline infrastructure
• 50% passed on to consumers via tariff adjustment

c. A self-sustaining, performance-linked model

PNGRB Overview

1. Full Name:

• Petroleum and Natural Gas Regulatory Board

2. Established:

• Statutory body under the PNGRB Act, 2006

3. Functions:

• Regulate Refining, transportation, storage, marketing, supply of petroleum products & natural gas (except production)
• Register entities to market petroleum/natural gas
• Protect consumer interests
• Foster fair trade and competition
• Maintain a data bank on petroleum and natural gas activities

4. Appeals:

• Decisions appealable before Appellate Tribunal for Electricity (Electricity Act, 2003)

4th International Conference on Financing for Development (Sevilla, Spain)

Context

• Held in 2025 at Sevilla, Spain to address the $4 trillion annual SDG financing gap in developing countries.

Key Outcome

Launches Sevilla Commitment, a blueprint to bridge the SDG funding gap.

• The first inter – governmentally agreed financing-for-development framework since 2015.
• Introduces innovative mechanisms (debt swaps, solidarity levies, disaster financing).
• Aims to make development financing more equitable, predictable, and sustainable.
• Builds upon:

- Monterrey Consensus (2002)
- Doha Declaration (2008)
- Addis Ababa Action Agenda (2015)
- Pact for the Future

Major Initiatives Adopted

1. Debt Challenges & Restructuring

2. Mobilising New Resources

3. Blended & Innovative Finance

4. Disaster Financing

Variable Rate Reverse Repo

RBI removed ₹1 lakh crore+ from the banking system via VRRR to tackle surplus liquidity.

What is it?

A monetary policy tool used by the RBI to absorb excess liquidity (extra money) from the banking system temporarily.

How does it work?

• Banks park (deposit) their surplus funds with RBI.
• In return, RBI pays interest on these funds.
• Variable Rate:

- The interest rate is not fixed.
- Determined through an auction, where banks bid the rate they are willing to accept.

• Reverse Repo Rate (Standard): Here, the rate is fixed by RBI, not by auction.

Why RBI uses VRRR?

• When there is too much liquidity in the system (e.g., after government spending, large forex inflows).
• To control inflation by pulling out excess money.
• To manage short-term liquidity conditions more dynamically than fixed reverse repo.

Chenab River

Forest Advisory Committee Grants In-Principle Nod to Divert Forest Land for Sawalkot Hydroelectric Project on Chenab River.

Sawalkot Hydro-Electric Project (HEP)

• Location: Chenab River (Jammu & Kashmir)
• Part of six strategic hydropower projects to maximize India’s use of Indus basin waters

Origin

Bara Lacha Pass, in the Lahul-Spiti part of Himachal Pradesh

Formed by the confluence of two rivers:

• Chandra (rises on one side of the pass)
• Bhaga (rises on the opposite side)

Course

• Flows through Jammu & Kashmir, cutting across the Himalayas and Pir Panjal ranges
• Forms the Chenab valley, a major structural trough

Tributaries

• Miyar Nalla
• Sohal
• Thirot
• Bhut Nalla
• Marusudar
• Lidrari

Historical Names

• Chandrabhaga (Vedic period)
• Also referred to as Ashkini or Iskmati

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