GK Snapsots on 20 October 2021
Indian Pension System Ranked 40th out of 43 systems on overall index ranking: 2021 MCGPI
Mercer Consulting, a leading global management consulting firm, has released the 13th edition of the Mercer Global Pension Index (2021 MCGPI). With an overall index value of 43.3, Indian Pension Systems ranked 40th out of the 43 systems on the overall index ranking and has the lowest rank in the adequacy sub-index with 33.5.
The 2021 MCGPI, has added 4 new retirement systems: Iceland, Taiwan, UAE and Uruguay.
India in MCGPI 2021:
i.According to the 2021 MCGPI, India needs strategic reforms to revamp the Indian pension system to ensure adequate retirement income.
ii.India has scored 33.5 in adequacy; 41.8 in sustainability; and 61.0 in integrity.
iii.In India, the coverage under the private pension arrangements is only around 6%.
iv.With more than 90% of the total workforce under the unorganised sector, India has to take action to get a larger workforce under pension savings.
v.To improve the adequacy index, the report suggests introducing a minimum level of support for the poorest aged individuals and increasing coverage of pension arrangements for the unorganized.
NITI Aayog Launches Geospatial Energy Map of India
NITI Aayog along with ISRO has launched the Geospatial Energy Map of India which will provide a holistic picture of all energy resources of the country. This map identifies and locates all primary and secondary sources of energy and their transportation.
• The map is designed with the help of five other ministries such as Ministry of New and Renewable energy, Ministry of Coal, Ministry of Petroleum and Natural gas, Ministry of Power, Department of Atomic energy.
Geospatial Energy Map of India was launched by: –
• Rajiv Kumar (Vice Chairman, NITI Aayog), Dr. V K Saraswat (Member, NITI Aayog), and Shri Amitabh Kant (CEO, NITI Aayog).
• K Sivan, Chairman ISRO & Secretary Department of Space attended the launch event.
Global Transport Sector needs $ 49.9tn investment by 2040 to reduce GHG: Report by UNOPS
In accordance with the report by the United Nations Office for Project Services (UNOPS), there is dire need of cleaning up the transport sector to reduce greenhouse gas (GHG) emissions and contain global warming.
• To achieve this, there is also a need for massive investments for green mobility like electric and hydrogen fuel vehicles estimated at $ 49.9 trillion by 2040.
i.The report highlighted that 16% of the GHG emissions are through the transport sector after energy and buildings.
• Energy sector also needs $ 28 trillion investments to overcome this scenario.
ii.Across sectors such as energy, transport, water and digital communications, trillions of dollars of additional infrastructure is needed to meet the targets
iii.UNOPS also warned of the improper investments as earlier which resulted in environmental degradation, climate impacts and socioeconomic vulnerabilities.
iv.The report follows some similar statements by the International Energy Agency (IEA) which also emphasized on investments in renewable energy needed to triple by the end of this decade to effectively fight climate change.
Sisay Lemma & Joyciline Jepkosgei wins Men’s & Women’s title in 2021 London Marathon
In October 2021, Ethiopia’s Sisay Lemma at 2 hours, 4 minutes and 1 second finished 1st in the 2021’s London Marathon, while Kenya’s Joyciline Jepkosgei won the Women’s marathon with 2 hours, 17 minutes & 43 seconds. The London marathon is annually conducted in London, United Kingdom, since its inaugural event in 1981.
• Olympic 10,000m Silver medalist, Kalkidan Gezahegne (Bahrain) created a new World record timing in 10K race of 29 minutes 38 seconds. She attained this during the Giants Geneva 10K event that was held in Geneva, Switzerland.
Actress Divya Dutta set to Release her 2nd Book ‘The Stars in My Sky’
Bollywood Actress Divya Dutta is set to release her second book titled ‘The Stars in My Sky: Those Who Brightened My Film Journey’ in October 2021. Her first book titled ‘Me and Ma’ was released in 2017.
• The book will be published by Penguin eBury Press, the division of Penguin Random House India (PRHI), and its foreword is written by Amitabh Bachchan.
About the Book: The book is about Dutta’s experiences with renowned Bollywood personalities who played a significant role in her life. Major personalities include Amitabh Bachchan, Dev Anand, Dilip Kumar, Shabana Azmi, Naseeruddin Shah, and Yash Chopra.
LAST MONTHS G.K.