TNPSC CURRENT AFFAIRS – 28.3.2024 – Plover Minds Institute LLP

China Pledges to Develop Sri Lankan Infrastructure and Assist with Debt
Sri Lanka is seeking assistance to develop its strategic deep sea port (Hambantota) and Colombo International Airport
China, Sri Lanka’s biggest creditor, has pledged to help but details are unclear
Sri Lanka needs to restructure its debt (around $46 billion) to secure a crucial IMF bailout
China’s position on debt relief is unknown, but Sri Lanka hopes for better terms
Geopolitical Considerations – India and the US are concerned about China’s growing influence in Sri Lanka
Particularly its control of Hambantota port which could be strategically important
Background – Sri Lanka defaulted on its foreign debt in 2022 due to a foreign exchange crisis
This led to protests and the resignation of the president

2. INDIA ACHIEVES 16% DECLINE IN NEW TB CASES SINCE 2015

India TB report 2024 released by the Union Health Ministry
India’s efforts to ensure early tuberculosis detection and treatment initiation along with a host of community engagement efforts has resulted A decline of 16% in incidence (new TB cases emerging each year)
A 18% reduction in mortality, since 2015
India has set 2025 as the target for eliminating TB
National Tuberculosis Elimination Programme (NTEP) embarked on a journey towards accelerating TB elimination, guided by the National Strategic Plan 2017–25
The NTEP continued providing free diagnostic services, conducting approximately 1.89 crore sputum smear test

3. ED ISSUES FRESH SUMMONS TO ISAAC IN MASALA BONDS CASE

Masala bonds are a unique financial instrument that combines Indian culture with global finance
Issuance location: Issued outside India by Indian entities (companies or government)
Currency: Denominated in Indian Rupees (INR), not the local currency of the issuing country
Masala bonds were first issued in 2014 by the International Finance Corporation (IFC) to fund Indian infrastructure projects
Since then, both Indian companies and states have tapped into this market to raise funds
Explanation – Think of it as Indian companies borrowing money abroad, but they borrow in their own currency (rupees) instead of the foreign currency
The name “Masala” is a clever term coined by the IFC to reflect India’s rich culture and cuisine
Here’s why Masala bonds are interesting
For Indian issuers – They can potentially raise funds at lower interest rates compared to borrowing in India
Especially if interest rates are lower in developed markets
For foreign investors – They get exposure to the Indian economy
But take on the risk of rupee fluctuations (meaning the value of their investment may change depending on the exchange rate)

4. INDIA STRONGLY OBJECTS TO U.S COMMENTS ON ARREST OF DELHI CM

India’s Diplomatic Response ○ India summoned a U.S. diplomat to express strong objection to comments made by the U.S. State Department spokesperson
Regarding the arrest of Delhi Chief Minister Arvind Kejriwal on allegations of corruption
Statement on Sovereignty and Judiciary – The External Affairs Ministry emphasized the importance of respecting each other’s sovereignty, especially among democracies
It highlighted the independence of India’s judiciary
U.S. Comments on Legal Process – The U.S. State Department spokesperson had expressed hope for a fair, transparent, and timely legal process for Kejriwal, which India deemed as casting unwarranted aspersions on its judiciary
U.S. Official Summoned – Gloria Berbena, the Acting Deputy Chief of Mission for the U.S., was summoned to convey India’s protest
India underscored the expectation of mutual respect for sovereignty and internal matters
Continued U.S. Concerns – Despite India’s protest, the U.S. reiterated its position, with spokesperson Matthew Miller commenting on following the Centre’s actions and the freezing of Congress party’s bank accounts, advocating for fair and transparent legal processes

5. ICMR SET TO BRING IN EVIDENCE BASED NORMS FOR LUNG CANCER MANAGEMENT

Issue: the lack of evidence-based guidelines for managing lung cancer, despite its prevalence
Lung cancer is a major health concern in India, causing 10% of all cancer deaths
Currently, there are no established guidelines for preventing, screening, diagnosing, treating, or managing lung cancer in India
The Indian Council of Medical Research (ICMR) is taking steps to address this gap by conducting systematic reviews and meta-analyses of existing research
This initiative aims to – Synthesise existing evidence
Improve decision-making in lung cancer management
Ultimately improve patient outcomes
The ICMR is inviting researchers to conduct these reviews, focusing on specific questions about various aspects of lung cancer care
Smoking tobacco is the primary risk factor
But non-smokers can also be affected by exposure to second-hand smoke and other factors

ONE LINER

Table Tennis Player Sharath Kamal will carry the Indian flag at the upcoming Paris 2024 Olympics announced the Indian Olympic Association (IOA)
Hangul Deer (Kashmir Stag) Dachigam National Park is the only remaining Asian Subspecies of Red Deer in Jammu and Kashmir.