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Daily Current Affairs – 2020

Topic: For Prelims and Mains

Natural Capital Accounting

Why in News?

  • Natural Capital Accounting and Valuation of the Ecosystem Services (NCAVES ) India Forum 2021 is being organised by the Ministry of Statistics and Programme Implementation (MoSPI).
  • The NCAVES Project, funded by EU, has been jointly implemented by the United Nations Statistics Division (UNSD), the United Nations Environment Programme (UNEP) and the Secretariat of the Convention of Biological Diversity (CBD).

What is Natural Capital:

  • Natural capital is from of capital from which humans derive a wide range of services also called ecosystem services, that make human life possible.
  • In order to have an unhindered supply of these services natural capital conservation and sustenance needs to be ensured.

About Natural capital accounting:

  • Natural capital accounting is the process of calculating the total stocks and flows of natural resources and services in a given ecosystem or region.
  • Accounting for such goods may occur in physical or monetary terms.

Facts for Prelims

Bureau of Indian Standards:

Establishment Day was celebrated by the Bureau of Indian Standards- BIS on 6 January.

About BIS:

  1. The Bureau of Indian Standards (BIS) is a national standards-setting body in India.
  2. It functions under the aegis of the Ministry of Consumer Affairs, Food and Public Distribution, Government of India.
  3. The Bureau of Indian Standards was established under the Bureau of Indian Standards Act, 1986.
  4. BIS was given the status of a national standards body under the Bureau of Indian Standards Act (BIS Act), 2016.


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