Why in news? The Government of India has restricted manufacturing and sale of oxytocin formulation to prevent its misuse.
Oxytocin is a peptide hormone and neuropeptide.
It is also known as the love hormone.
It plays a role in social bonding, sexual reproduction in both sexes, and during and after childbirth.
It helps with birth, bonding with the baby, and milk production.
Oxytocin is also used as a medication to facilitate childbirth.
It is a life-saving drug in those women who bleed during child birth or undergo an abortion.
There are alternatives like Misoprostol, but the government has restricted its use in private clinics, as they are worried about misuse of Misoprostol in sex-selective abortions.
There is a large-scale clandestine manufacture and sale of the drug Oxytocin leading to its grave misuse, which is harmful to animals and humans.
The manufacture and sale of Oxytocin has been now banned for domestic use in the private sector by the government.
Import of the drug has also been banned.
Retail or wholesale chemists will not be allowed to stock this drug in their shops in any form or name.
The Ministry of Health and Family Welfare has zeroed in on Karnataka Antibiotics & Pharmaceuticals Ltd to manufacture the drug and supply it directly to registered private and public hospitals.
FACT # 2
Strategic Petroleum Reserves (SPR)
Why in news?New strategic petroleum reserves are to be set up in Karnataka and Odisha.
Strategic crude oil reserves:
Strategic crude oil reserves are state-funded and meant to tackle emergency situations.
These allow a country to counter short-term supply disruptions.
International Energy Agency (IEA) members maintain emergency oil reserves equivalent to at least 90 days of net imports.
Lastest Strategic Petroleum Reserves (SPR):
India’s strategic crude oil storages are currently located at Visakhapatnam (1.33mt), Mangaluru (1.5 mt) and Padur (2.5mt).
Two additional 6.5 million tonnes (mt) of strategic crude oil reserves are being set up as part of India’s evolving energy security architecture.
Combined with an existing storage capacity of 5.3mt, the new strategic petroleum reserve facilities will help support 22 days of India’s crude oil requirements.
The new SPR (strategic petroleum reserve) facilities at Chandikhol (Odisha) and Padur (Karnataka) will be underground rock caverns.
These will have capacities of 4mt and 2.5mt respectively.
Reasons of which are:
These are being set up because the US government is asking all countries, including India, to stop oil imports from Iran by 4 November.
Opec accounts for about 83% of India’s total crude oil imports and 40% of global production.
Opec is also looking to strengthen its cooperation with Russia on production control.
Falling production in Venezuela and geopolitical tensions have also added to the uncertainties.
India’s energy needs are primarily met through imports which raises the issue of supply risks in times of war or natural exigencies for the world’s third-largest energy consumer after the US and China.
FACT # 3
Solar Charkha Mission
Why in news? The Indian President has launched Solar Charkha Mission under which Government will disburse subsidy of Rs 550 crore to thousands of artisans, generating employment in rural areas.
Solar Charkha Mission:
The Solar Charkha Mission will be covering artisans in 50 identified clusters and the Sampark portal which is a digital platform to connect five lakh job seekers with recruiters.
The Solar Charkha Mission will entail a subsidy of Rs 550 crore in the initial two years for 50 clusters and every cluster will employ 400 to 2000 artisans.
The mission was launched during the event of Udyam Sangam (National MSME Conclave) on the occasion of World MSME Day (observed on 27 June).
The mission will generate employment in rural areas and contribute to the green economy.
The digital platform `Sampark portal’ will be useful in creating a skill pool of workers and connecting trained youth with job opportunities.
The government will also look for new solutions so that micro and small entrepreneurs may be able to occupy a space at the global level.
The Udyam Sakhi portal of the MSME Ministry will also empower women and weaker sections by providing training to 80 lakh women.