India’s Foreign Relation
India and Russia
▪ According to the Russia based Sberbank, India and Russia have doubled their payments in their national currencies (rupee-rouble).
▪ Rupee deposits by Indian corporates have also increased multifold in 2024 despite western sanctions.
▪ India and Russia have set a 100$ billion trade target by 2030.
▪ The bilateral trade between India and Russia in 2023-24 is around $65 billion.
About Russia
✓ Capital – Moscow
✓ Currency – Russian Ruble
✓ Prime Minister – Mikhail Mishustin
✓ President – Vladmir Putin
General Awareness and Public Administration
Money Bills
▪ Chief Justice of India D.Y. Chandrachud stated that a Constitutional Bench will be formed to address the petitions challenging the passage of Laws as Money Bills by the Central Government.
▪ Some of the legislations passed as Money Bills in the Parliament include:
✓ Amendments to the Prevention of Money Laundering Act
✓ The Finance Act of 2017
✓ Aadhaar Act, 2016
▪ The Money Bill question was referred to a seven judge Bench in November 2019 by a five- judge Bench headed by Chief Justice Ranjan Gogoi in the case of Rojer Mathew vs. South Indian Bank Ltd.
Note
▪ A Money Bill is deemed to contain only provisions dealing with all or any of the matters under clauses (a) to (g) of Article 110(1).
▪ Article 110 deals with Money Bill and it can be introduced only in Lok Sabha.
Welfare Schemes
“One Scientist, One Product” programme
▪ The Indian Council of Agricultural Research (ICAR) launched the ‘One Scientist One Product’ recently on its 96th Foundation Day (July 16)
▪ One Scientist One Product – Aims to improve research in the field of agriculture and animal husbandry.
▪ ICAR also announced the release of 323 varieties of 56 crops, including cereals, oilseeds, forage crops, and sugar cane.
▪ ICAR is also working on the initiatives – 100 Days 100 Varieties and 100 Days 100 Technologies – which aims to introduce 100 new seed varieties and an equal number of farm technologies within a 100-day period.
About ICAR
✓ Formation – July 16, 1929
✓ Headquarters – New Delhi
✓ Director – Himanshu Pathak
