India's first geological park will be built at Lamheta in Jabalpur, Madhya Pradesh. The approval for this park was given by the Geological Survey of India under the Ministry of Mines.

The park will be built on five acres of land with an investment of Rs 35 crore.

Why is this park being built in Lamheta?

This geological park will be built in Lamheta because this place is one of the important places in the world from geological point of view. In 1928, William Henry Sleeman discovered dinosaur fossils from this area. UNESCO has also recognized Lamheta as a geo-heritage site.

What is Geopark?

The Geopark is an integrated area, which advances the conservation and use of geological heritage in a sustainable manner. It also promotes the economic well-being of the people living there.

Lameta Formation

The Lamata Formation is also known as the Infratrappean Beds. It is a sedimentary geological formation found in Madhya Pradesh, Maharashtra and Gujarat. It is connected to the Deccan trap. It belongs to the Maastrichtian age and is known for fossils of dinosaurs.

Geological Survey of India – GSI

GSI was established in 1851. It is a scientific agency of India, which works under the Ministry of Mines. It is one of the oldest organizations worldwide and the second oldest survey organization in India after the Survey of India. The Survey of India was established in 1767. It was set to conduct the Geological Survey of India and study. It also serves as a major provider of basic earth science information to the general public, industry and government, in addition to the coal, steel, cement, metals, power industries and official participant in international geological fora.

On February 1, 2022, Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022-23. This budget focuses on macroeconomic growth, energy transformation, promotion of digital economy, climate action, tech-enabled development, crowding in private investment.

Highlights of the budget

• Digital Rupee will be issued using block chain technologies.

• E-passport will be issued.

• National tele mental health program will be started.

• Zero fossil fuel policy will be introduced.

• The Special Economic Zones Act will be replaced by a new Act.

• Sovereign Green Bonds will be issued.

• The estimated growth rate of India is 9.2%.

• Scheme for oilseeds will be started.

PM Gati Shakti: Rs 20,000 crore

PM Gati Shakti Master Plan will be extended to 25,000 km. 100 PM Gati Shakti Cargo Terminals will be developed in the next three years.

loans to states

States will be provided financial assistance of Rs 1 lakh crore. These are interest free loans. States can use it for PM Gati Shakti related investments and other productive investments.

Multi Modal Logistics Park

These parks will be opened at 4 locations through PPP model.

PM e-VIDYA (PM eVIDYA)

This is one class one tv channel program. This will be increased from 12 to 200 TV channels. It is meant to educate in regional languages ​​from class 1 to class 12.

Rs 2.37 lakh crore for MSP

The Finance Minister has allocated Rs 2.37 lakh crore for direct payment of Minimum Support Price. Wheat was procured at 1208 lakh tonnes and paddy was 163 lakh tonnes in 2021-22.

PLI

Rs 19,500 crore has been allocated for PLI to manufacture high energy efficiency modules. This will help India achieve its solar power target of 280 GW by 2030.

railway

400 new Vande Bharat trains will be started.

credit guarantee

CGTMSE: Credit Guarantee Trust for Micro and Small Enterprises to be revamped. Additional credit of Rs 2 lakh crore will be provided.

The emergency credit line guarantee scheme has been extended till March 2023.

Accommodation

PM Awas Yojana: 60,000 houses will be identified as beneficiaries. 48,000 crore has been allocated for this.

financial inclusion

1.5 lakh post offices will come on the core banking system.

Ken Betwa Linking Project

1,400 crore allocated. The total cost of the project is estimated to be Rs 44,605 ​​crore. This will benefit 9 hectares of agricultural land, provide drinking water supply to 62 lakh people, generate 103 MW of hydroelectricity and 27 MW of solar power.

do

The tax deduction limit for central and state government employees will be increased from 10% to 14%. This will help with Social Security benefits.

• Transfer of virtual digital assets will attract 30% tax.

• Corporate surcharge reduced from 12% to 7%.

• Customs duty on diamonds reduced to 5%.

• Long term capital gains will be taxed at 15%.

The government has approved the proposal to sell public sector company Nilachal Ispat Nigam Limited (NINL) to Tata Steel Long Products Limited (Tata Steel) for Rs 12,100 crore. NINL is a Joint Venture (JV) of two Government of Odisha companies including MMTC Limited, National Mineral Development Corporation (NMDC), BHEL (BHEL) and MECON Limited. .

NINL has an Integrated Steel Plant at Kalinganagar, Odisha with a capacity of 11 lakh tonnes. The company is making huge losses and the plant is closed since March 30, 2020.

The consortium of Jindal Steel & Power Limited and Nalwa Steel & Power Limited, JSW Steel Limited and Tata Steel Long Products Limited (TSLP) had made financial bids to buy NINL. TSLP emerged as the largest bidder in this. Letter of Intent (LOI) is being issued to TSLP.

Source - Navbharat Times

Scientists have recently discovered a coral reef along the coast of Tahiti. This reef is two miles long and is unaffected by anthropogenic activities and climate change.

The coral reef was discovered during a dive expedition. This campaign was supported by UNESCO. These discovered corals were six feet in diameter.

Corals found in the Mesophotic Zone

Coral reefs were discovered at depths of 100 feet to 210 feet. These corals were found in the mesophotic zone. These are the darkest areas as far as sunlight can penetrate. This depth protects the corals from human activities.

not affected by coral bleaching

In 2019, the entire French Coral Polynesia was affected by coral bleaching. Coral bleaching is caused by climate change and global warming. However, this new coral reef has not been affected by coral bleaching.

What is coral bleaching?

Corals are marine invertebrates. Algae provide food for the coral and corals provide habitat for the algae. Due to global warming and rise in sea temperature, it becomes difficult for corals to capture algae. Corals get their color from these algae. When algae separate from coral they become colorless. This is called coral bleaching. This kills the corals because they do not get food.

Tahiti

Tahiti is the largest island in French Polynesia. It is located in the central Pacific Ocean. Tahiti was formed by volcanic activity. The island is home to about 70% of the population of French Polynesia.

Union Finance Minister Smt. Nirmala Sitharaman presented the Union Budget on February 1, 2022. During the budget, the Finance Minister announced that the transfer of virtual digital assets will be taxed at 30%. This new rule will come into effect from April 1.

It is worth noting that the Indian government has been considering making laws on cryptocurrencies for a long time.

Challenges with Cryptocurrencies

According to the IMF, the rapid growth and increasing popularity of crypto assets pose financial stability challenges.

Such decentralized currencies can create volatility because they are extremely volatile. They are much more volatile than equity or commodity or exchange rates.

Its transaction cost is quite expensive compared to digital currency.

According to this report, such transactions make capital inflows unstable. It also creates a number of operational and financial integrity risks from the provision of crypto assets.

cryptocurrency

It is a digital asset that works as a medium of exchange where the ownership records of individual coins are stored in the ledger in the form of a computerized database. These records are stored using a strong cryptography so that the transaction record can be secured.

first cryptocurrency

Bitcoin is the first cryptocurrency released as open-source software in 2009. It is the first decentralized cryptocurrency.