B2B of the day: Parker Solar Probe, Boao Forum for Asia (BFA), Anti-dumping duty, Electoral bonds

Here are 4 Back2Basics collections from today’s news items

B2B #1: From news- Humanity’s first flight to Sun set to launch in July: NASA

Parker Solar Probe

  1. Parker Solar Probe is a planned NASA robotic spacecraft to probe the outer corona of the Sun
  2. It will approach to within 8.86 solar radii (6.2 million kilometers or 3.85 million miles) from the ‘surface’ (photosphere) of the Sun
  3. It will determine the structure and dynamics of the Sun’s coronal magnetic field, understand how the solar corona and wind are heated and accelerated, and determine what processes accelerate energetic particles
  4. The Parker Solar Probe mission design uses repeated gravity assists at Venus to incrementally decrease its orbital perihelion to achieve multiple passes of the Sun at approximately 8.5 solar radii

B2B #2: From News- CPEC being extended to Afghanistan: report
Boao Forum for Asia (BFA)

  1. The BFA was formed by China in 2001 on the lines of the World Economic Forum in Davos
  2. The Boao Forum for Asia is a non-profit organization that hosts high-level forums for leaders from government, business, and academia in Asia and other continents to share their vision on the most pressing issues in this dynamic region and the world at large
  3. It holds its meeting every year
  4. Boao Forum has its fixed address in Bo’ao, Hainan province, China, although the Secretariat is based in Beijing
  5. Pakistan is one of the 26 countries of this Forum

B2B #3: From News- India slaps anti-dumping duty on import of phosphorus pentoxide from China
Anti-dumping duty

  1. An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value
  2. The Revenue Department in the Finance Ministry imposes anti-dumping duty
  3. It is imposed after following recommendations of Directorate General of Anti-Dumping and Allied Duties (DGAD)
  4. These duties are imposed under the multilateral WTO regime
  5. They are not a measure to restrict imports or cause an unjustified increase in cost of products

B2B #4: From News- EC to take a call on electoral bonds soon

Electoral bonds

  1. Electoral Bond is a financial instrument for making donations to political parties
  2. These are issued by Scheduled Commercial banks upon authorization from the Central Government to intending donors, but only against cheque and digital payments (it cannot be purchased by paying cash)
  3. Electoral Bonds would have a life of only 15 days during which it can be used for making donation only to the political parties registered under section 29A of the Representation of the Peoples Act, 1951 and which secured not less than one percent of the votes polled in the last general election to the House of the People or a Legislative Assembly
  4. The Electoral Bonds under the Scheme shall be available for purchase for a period of 10 days each in the months of January, April, July, and October, as may be specified by the Central Government

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