What is Stringency Index?
•It is created by Oxford University that shows how strict a country’s measures were, and at what stage of the pandemic spread it enforced these.
[As per the index, India imposed its strictest measures much earlier than others.]
•The Stringency(तंगी like stringency of poverty) Index is a number from 0 to 100 that reflects these indicators. [A higher index score indicates a higher level of stringency]
•These indicators examine containment policies such as school and workplace closings, public events, public transport, stay-at-home policies
European Court of Justice (ECJ)
•It is a part Court of Justice of the European Union (CJEU), and is the European Union’s supreme court in matters of EU law.
•Founded in 1952 after the Treaty of Paris.
[It is based in Luxembourg]
•It is composed of one judge per member state – currently 27 – although it normally hears cases in panels of three, five or 15 judges
•Germany’s constitutional court has questioned the legality of a past ruling of the European Court of Justice.
[The ruling pertains to a bond-buying scheme of the European Central Bank (ECB).]
•The ECB’s mass bond-buying was launched after the eurozone’s 2010 crisis as support for the euro besides the EU’s national bailouts for Greece and some other countries
Asian Infrastructure Investment Bank (AIIB)
•It is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond.
•It is headquartered in Beijing
•By investing in sustainable infrastructure and other productive sectors today, it aims to connect people, services and markets that over time will impact the lives of billions and build a better future
•Board of Governors consists of one Governor and one Alternate Governor appointed by each member country
•[Recently, the Asian Infrastructure Investment Bank (AIIB) has approved US$ 500 million for ‘Covid-19 Emergency Response and Health Systems Preparedness Project’ initiated by India.]
What is helicopter money?
•American economist Milton Friedman coined this term, [This is an unconventional monetary policy tool aimed at bringing a flagging economy back on track.
It involves printing large sums of money and distributing it to the public
•It basically denotes a helicopter dropping money from the sky. [Friedman used the term to signify “unexpectedly dumping money onto a struggling economy with the intention to shock it out of a deep slump]
•Telangana Chief Minister K. Chandrashekar Rao has suggested RBI to adopt the concept of Helicopter Money to help state governments tide over the current crisis and kickstart economic activity in India.
[Helicopter Money is one concept that is being considered by authorities’ world over due to COVID-19 Lockdown]
•Locusts are a group of short-horned grasshoppers that multiply in numbers as they migrate long distances in destructive swarms (up to 150km in one day
•During the past few weeks, major locust attacks have been observed in several countries in western and southern Asia and in eastern Africa
•The Food and Agriculture Organisation (FAO) of the United Nations has currently identified three hotspots of threatening locust activity, where the situation has been called “extremely alarming” — the Horn of Africa, the Red Sea area, and southwest Asia.
(The Horn of Africa has been called the worst-affected area)
【Recently, scientists at the Locust Warning Organisation (LWO) observed groups of desert locusts at Sri Ganganagar and Jaisalmer districts of Rajasthan】4