Note4Students
From UPSC perspective, the following things are important :
Prelims level: INS Imphal
Mains level: Not Much
Central Idea
- INS Imphal (Pennant D68), the third ship of the Visakhapatnam class stealth-guided missile destroyers, is set to join the Indian Navy.
- Part of Project 15B, INS Imphal follows the lineage of the Delhi and Kolkata classes of indigenous destroyers.
About INS Imphal
|
Details |
| Ship Name |
INS Imphal (Pennant D68) |
| Class |
Visakhapatnam class stealth-guided missile destroyer (Project 15B) |
| Commissioning Date |
Scheduled for December 26 |
| Builder |
Mazagon Dock Shipbuilders Limited (MDSL) |
| Design |
Indian Navy’s Warship Design Bureau |
| Propulsion System |
Combined gas and gas (COGAG) configuration with four gas turbines |
| Maximum Speed |
30 knots |
| Range |
4000 nautical miles |
| Armament |
BrahMos surface-to-surface cruise missiles
Barak-8 surface-to-air missiles
127 mm main gun
AK-630 30mm guns
Torpedo launchers and anti-submarine rocket launchers |
| Helicopter Facilities |
Can operate two multi-role helicopters (Sea King or HAL Dhruv) |
| Strategic Features |
Stealth capabilities for reduced radar signature
Advanced combat management system
Total atmospheric control system (TACS) for protection against nuclear, biological, and chemical threats |
| Significance |
Represents advanced naval warfare capabilities and strategic asset for the Indian Navy |
| Tribute to Northeast India |
Named after the city of Imphal, honoring the strategic and historical significance of the Northeast region |
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: One-Hour Trade Settlement, T+1 Settlement Cycle
Mains level: Read the attached story
Central Idea
- The Securities and Exchange Board of India (SEBI) has proposed introducing T+0 (same day) and instant settlement cycles in the equity cash segment, alongside the existing T+1 cycle.
Current Settlement Cycle
- Evolution: SEBI shortened the settlement cycle from T+5 to T+3 in 2002, and then to T+2 in 2003. The T+1 cycle was introduced in 2021 and fully implemented by January 2023.
- T+1 Cycle: Currently, the settlement of funds and securities occurs on the next day after the trade.
About T+0 Settlement Cycle
- Phased Implementation: SEBI plans to introduce the shorter cycle in two phases: Phase 1 with T+0 Settlement and Phase 2 with Instant Settlement.
- T+0 Settlement Details: In Phase 1, trades executed until 1:30 PM will be settled by 4:30 PM on the same day.
- Instant Settlement Mechanics: Phase 2 envisages immediate trade-by-trade settlement, with trading continuing until 3:30 PM.
Scope and Implementation
- Initial Focus: Initially, the T+0 settlement will be available for the top 500 listed equity shares based on market capitalization, implemented in three tranches.
- Surveillance Measures: The same surveillance measures applicable in the T+1 cycle will apply to the T+0 cycle. Trade-for-trade settlement securities will not be eligible for T+0.
Rationale behind Introducing a Shorter Settlement Cycle
- Market Growth and Efficiency: With the significant growth in market volumes and participants, SEBI aims to enhance market efficiency and safety, especially for retail investors.
- Technological Advancements: The evolution of payment systems like UPI and the sophistication of market infrastructure support the feasibility of shorter settlement cycles.
- Investor Attraction: Faster transactions, reliability, and low costs are key factors that attract investors, making Indian securities a more appealing asset class.
Features of the Proposed T+0 Settlement Mechanism
- Early Pay-In Trend: A large percentage of retail investors already make early pay-ins of funds and securities, indicating readiness for instant settlement.
- Instant Receipt Benefits: The mechanism enables instant receipt of funds and securities, reducing settlement shortages and enhancing investor control.
- Investor Protection: Direct crediting of funds and securities into investors’ accounts, especially for UPI clients, strengthens investor protection.
Benefits of the New Mechanism
- Flexibility for Clients: The new mechanism offers faster payouts of funds to sellers and securities to buyers, providing greater flexibility and control.
- Market Ecosystem Advantages: The faster settlement cycle is expected to enhance the operational efficiency of the securities market, benefiting the entire ecosystem.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: Space missions in 2024
Mains level: Read the attached story
Central Idea
- The year 2024 is set to be a landmark year in space exploration, following significant achievements in 2023, including NASA’s OSIRIS-REx and India’s Chandrayaan-3 missions.
Upcoming Missions
- The year will feature several key missions under NASA’s Artemis plan and Commercial Lunar Payload Services, along with other international endeavors.
[1] Europa Clipper Mission
- Objective: NASA’s Europa Clipper will explore Jupiter’s moon, Europa, known for its icy surface and potential subsurface saltwater ocean.
- Significance: The mission aims to assess Europa’s habitability for extraterrestrial life by studying its icy shell, geology, and ocean.
- Launch Details: Scheduled for launch on October 10, 2024, aboard a SpaceX Falcon Heavy rocket, with arrival at Jupiter set for 2030.
[2] Artemis II Mission
- Program Goals: Part of NASA’s Artemis program to return humans to the Moon, including plans for a sustained presence and future Mars missions.
- Mission Specifics: Artemis II, following the uncrewed Artemis I, will be the first crewed mission orbiting the Moon since 1972, planned for November 2024.
[3] VIPER Lunar Mission
- Mission Overview: VIPER (Volatiles Investigating Polar Exploration Rover) aims to explore the Moon’s south pole for volatiles like water and carbon dioxide.
- Technology and Schedule: Equipped to handle extreme lunar temperatures, VIPER’s launch is scheduled for November 2024, focusing on resources for future human exploration.
[4] Lunar Trailblazer and PRIME-1 Missions
- SIMPLEx Program: These missions are part of NASA’s Small, Innovative Missions for Planetary Exploration (SIMPLEx), offering cost-effective, rideshare opportunities.
- Objectives: Lunar Trailblazer will orbit the Moon to map water locations, while PRIME-1 will test drilling technology, both scheduled for mid-2024.
[5] JAXA’s Martian Moon eXploration (MMX) Mission
- Mission Focus: JAXA’s MMX mission aims to study Mars’ moons, Phobos and Deimos, to determine their origin.
- Science Operations: The spacecraft will conduct a three-year mission, including landing on Phobos and returning a sample to Earth, with a launch planned around September 2024.
[6] ESA’s Hera Mission
- Mission Purpose: Hera, by the European Space Agency, will study the Didymos-Dimorphos asteroid system, following NASA’s DART mission’s kinetic impact in 2022.
- Planetary Defense: Hera will assess the impact of DART’s collision and study the asteroids’ physical properties, with a launch set for October 2024.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: India's steel sector
Mains level: Read the attached story
Central Idea
- The Indian government is focusing on the steel sector with the Production Linked Incentive (PLI) scheme 2.0 and ensuring raw material supply in 2024.
- Minister of State for Steel highlighted these initiatives, emphasizing the promotion of scrap usage in steel production.
Growth and Recovery Post-Pandemic
- Resilience: The steel sector has shown a strong recovery following the impact of the COVID-19 pandemic in 2020-21.
- Production and Consumption: From April to November 2023, crude steel production increased by 14.5% y-o-y to 94.01 Million Tonnes (MT), and finished steel consumption rose by 14% to 86.97 MT.
Targets and Technological Advancements
- Capacity Goal: India aims to reach an installed steel manufacturing capacity of 300 MT by 2030, currently at around 161 MT.
- Innovation: Efforts are underway to integrate artificial intelligence and new technologies to enhance steel output and reduce carbon emissions.
PLI Scheme and Industry Expansion
- PLI Scheme 1.0: The first phase aimed to boost speciality steel production, creating an additional capacity of around 25 MT.
- Capacity Increase: Steel players are expanding their capacities, with the government facilitating project clearances and easing business operations.
Challenges and Concerns
- Rising Imports and Costs: The industry faces challenges with increasing imports, high raw material prices, and geopolitical uncertainties.
- Dependency: India relies heavily on imports for coking coal, a critical raw material for steel production.
Global Steel Industry and India’s Role
- India’s Growth: India, the world’s second-largest steel producer, has shown robust growth, significantly contributing to the global steel industry.
- Comparison with China: While China remains the largest producer, India has outpaced China in terms of growth rate in recent years.
Demand and Import Dynamics
- Sectoral Demand: The construction sector, driven by government infrastructure spending and private investment, leads the demand for steel in India.
- Import Measures: The government has implemented anti-dumping duties and other barriers to address steel dumping, particularly from China and Vietnam.
Price Trends and Future Outlook
- Domestic Prices: Indian steel prices have increased due to strong demand, but global uncertainties may impact future price hikes.
- Global Market Influence: Domestic pricing trends may be influenced by global economic recovery and price movements in the US and Europe.
Conclusion
- Strategic Focus: The Indian government’s initiatives, like the PLI scheme, aim to strengthen the steel sector’s global competitiveness and self-reliance.
- Balancing Growth and Challenges: While the sector shows promising growth, addressing challenges like raw material dependency and import pressures remains crucial.
- Global Positioning: India’s significant role in the global steel market underscores its potential to influence industry trends and drive economic growth.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: G20
Mains level: Women led development
Central idea
The article critiques the G20 Summit’s Declaration on women’s empowerment, highlighting past implementation challenges and questioning the clarity of “women-led development.” It emphasizes the discrepancy between rhetoric and actions, especially regarding declining budget allocations for women’s development. The central theme revolves around the need for a reevaluation of women-led development strategies to address persistent inequalities effectively.
Key Highlights:
- The G20 Summit’s Declaration on the empowerment of women is acknowledged, but past working groups and sustainable development goals have seen limited implementation.
- The term “women-led development” in the Declaration lacks clarity, and the article questions its parameters and implications for the existing development models.
- The G20 Declaration reaffirms the role of private enterprise in driving economic growth, raising concerns about the compatibility of women-led development with the prevailing macroeconomic model.
Key Challenges:
- The article highlights the persistent discrimination against women and girls globally, emphasizing the need for more effective measures to achieve Sustainable Development Goals.
- Women-led development schemes, as mentioned in government bulletins, are criticized for masking the reduction in government investment in projects benefiting women’s development.
- The Gender Budget, intended to prioritize women’s development, has shown a decline in total expenditure, raising concerns about the commitment to women-led development.
Key Terms/Phrases:
- Women-led development
- Sustainable Development Goals (SDGs)
- Trickle-down theory
- G20 Summit Declaration
- Gender Budget
- Private enterprise
- Corporate-led development
Key Quotes for value addition:
- “At the midway point to 2030, the global progress on SDGs is off-track with only 12% of the targets on track.”
- “We encourage women-led development and remain committed to enhancing women’s full, equal, effective, and meaningful participation…”
Key Statements:
- The article questions the lack of clarity in the term “women-led development” and its compatibility with existing development models.
- Concerns are raised about the reduction in the Gender Budget and the inadequate allocation for wholly women-specific schemes.
Key Examples and References:
- The article cites the decline in women’s share in regular waged work in India according to the Periodic Labour Force Survey (PLFS).
- Specific government schemes and budgetary allocations are referenced to illustrate the disparities in women-led development.
Key Facts/Data:
- The total Gender Budget for 2023-2024 was reduced from 5.2% of the total expenditure the previous year to 5%.
- The share of women in regular waged work in India fell from 21.9% in 2018-2019 to 15.9% in 2022-2023.
Critical Analysis:
- The article critically examines the discrepancies between rhetoric and action in women-led development, highlighting concerns about declining budget allocations and the lack of clarity in the proposed development model.
Way Forward:
- The need for a reevaluation of women-led development strategies is emphasized, urging policymakers to prioritize economic independence for women and address the disparities in budgetary allocations.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: na
Mains level: inclusive growth
Central idea
The central idea urges a reevaluation of India’s economic strategy, emphasizing the necessity to shift from an exclusive focus on high-end skills to inclusive growth. It underscores the mismatch between skills, jobs, and incomes and advocates prioritizing the small-scale manufacturing sector to foster sustainable and locally enriched economic development. The article suggests seizing the opportunity to attract producers and meet unmet needs for India’s growth.
Key Highlights:
- The book “Breaking the Mould: Reimagining India’s Economic Future” suggests a shift from manufacturing to exporting high-end services, challenging traditional economic strategies.
- The mismatch between skills, jobs, and incomes is identified as a major obstacle to India’s growth, reflecting in social and political demands for better wages and security.
- The growth pattern focusing on high-end skills has not generated sufficient decent jobs for the majority of India’s population.
Key Challenges:
- The Achilles heel of India’s economy is insufficient jobs and incomes, evident in demands from various sectors for fair wages and social security.
- A critical mismatch between skills, jobs, and incomes poses a significant challenge to India’s growth and economic well-being.
- The reliance on high-end skills has not translated into enough decent jobs for the majority, hindering inclusive growth.
Key Terms and Phrases:
- Leapfrogging manufacturing in favor of exporting high-end services.
- Mismatch between skills, jobs, and incomes.
- “India was Shining” era and its economic implications.
- Inclusive and sustainable economic growth.
- Small-scale and informal manufacturing sector.
- The importance of richness of economic activity within local webs.
Key Quotes:
- “India cannot afford to neglect its small-scale and informal manufacturing sector any longer.”
- “Investing in education and skills for ‘high end’ manufacturing and services will not benefit the masses if they cannot be employed.”
- “There are no shortcuts to inclusive economic growth.”
Key Statements:
- The book’s recommendation challenges India’s traditional approach to economic development.
- The focus on high-end skills has not translated into inclusive growth or sufficient employment opportunities.
- Policymakers must reimagine the path for India’s growth and prioritize inclusive economic growth.
Key Examples and References:
- Reference to the book “Breaking the Mould: Reimagining India’s Economic Future” by Raghuram Rajan and Rohit Lamba.
- Examples of social and political demands for better wages and security in various sectors.
- Mention of the mismatch between India’s skills development and job creation.
Key Facts and Data:
- 60% of Indians are classified as “economically weaker sections” entitled to job reservations.
- India invested in world-class institutions of science and engineering 70 years ago.
- The growth pattern focusing on high-end skills has not generated sufficient decent jobs for India’s masses.
Critical Analysis:
- The article critiques the existing economic growth pattern for its failure to generate inclusive and sustainable development.
- Emphasis on the importance of inclusive economic growth and challenges posed by the mismatch between skills and jobs.
Way Forward:
- Policymakers need to reimagine India’s growth path with a focus on inclusive economic growth.
- There are no shortcuts, and investments in the small-scale and informal manufacturing sector are crucial for sustainable development.
- India should leverage its unmet needs to attract producers and make more for India in India, thereby growing jobs and incomes.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: na
Mains level: importance of fortified Center-State relations for efficacious governance
Central idea
The editorial examines the heightened global risks in 2024, navigating a precarious era marked by challenges to the existing international order. It anticipates potential flashpoints, including the war in Ukraine and Middle East tensions, while also scrutinizing India’s prospects and internal dynamics. Emphasizing the importance of robust Center-State relations, the editorial envisions a turbulent period demanding strategic foresight and diplomatic acuity.
Key Highlights:
Key Terms and Phrases:
- Global risks and uncertainties
- Rules-based international order
- Geostrategic contradictions
- Flashpoints
- Shifting geopolitical dynamics
- Unforeseen challenges (“black swans”)
- Adventurist actions
- Center-State relations
Key Quotes:
- “Navigating an epoch of substantial peril.”
- “Challenged by architects of the ‘rules-based international order’ and those deeming it antiquated.”
- “An era fraught with substantial peril.”
- “Potential ‘adventurist actions’ by China.”
- “An impending period of turbulence.”
- “Politically charged atmosphere.”
- “Expulsion of the Trinamool Congress Member of Parliament, Mahua Moitra.”
Anecdotes:
- Exploration of the enduring war in Ukraine and its potential ramifications on the U.S. presidential election.
- Insight into the Israel-Hamas conflict as a catalyst for heightened tensions in the Middle East.
- Brief anecdote concerning the ruling dispensation’s assurance in India’s forthcoming general election.
Key Statements:
- “The world stands on the brink of a period marked by significant peril.”
- “The existing international order grapples with multifaceted challenges.”
- “Geostrategic contradictions are poised to escalate.”
- “The internal landscape demands vigilant observation.”
- “The nation approaches a potential turning point.”
Key Examples and References:
- The enduring war in Ukraine and its potential influence on the U.S. presidential election.
- Israel-Hamas conflict as a driver of heightened tensions in the Middle East.
- Shifting geopolitics in West Asia and emerging alliances challenging Western leadership.
Critical Analysis:
- The editorial furnishes a nuanced analysis of potential challenges and uncertainties on a global scale and within India.
- Emphasis on the importance of fortified Center-State relations for efficacious governance.
- Recognition of potential “black swans” and unforeseen challenges.
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