Syllabus: GS-III,  Subject: Economy, Topic: Banking and Financial Intermediaries, Issue: Framework for SROs

Context:The Reserve Bank of India (RBI) has finalised an Omnibus Framework for recognizing Self-Regulatory Organizations (SRO) for regulated entities.

Self-regulatory organisations (SROs)

• They are essentially non-governmental organisations that set rules and enforce standards within a specific industry or profession.
• They act like a bridge between the industry and the government.

Objectives of the framework :

• Fostering professionalism and ethical conduct within their respective sectors.
• Promoting innovation and addressing critical industry concerns
• Encouraging adherence to self-regulatory principles and best practices

Recognition Process: The framework outlines the application process and eligibility criteria for entities seeking recognition as SROs by the RBI.

Syllabus: GS-III Subject:Economy Topic:Growth and Development, Inclusion Issue: Income inequalities

Context: Research paper released on Income and wealth inequality by  World Inequality Lab.

Recommendations:

• Progressive taxation: Introduce higher tax rates for top earners.
• Super tax on wealth: Consider imposing a “super tax” on the net wealth of the richest families
• Increase public investments in healthcare, education, and social welfare programs.
• Combat corruption and cronyism to ensure equitable distribution of resources and opportunities

Syllabus: GS-II Subject: Polity, Topic: Institutions, Issue: Fact checking unit .

Context: The Supreme Court stayed the “Fact Check Unit” for identifying “fake news.”

FCU Functions:

• It is tasked with flagging false information related to the Central government on social media.
• Social media platforms are mandated to take down flagged content or face litigation.

Concerns:

• Excessive power to control online information and potentially stifling free speech.
• Its establishment raised concerns about press freedom and government impartiality.
• Could be used to suppress criticism of the government.

Source: The Hindu

Syllabus: GS-III; Subject: Science & Technology ; Topic:Policies and Missions – India and Global Issue: AI regulation.

Context: The United Nations General Assembly unanimously adopted the first-ever resolution on Artificial Intelligence.

Highlights:

• Focus on Safe, Secure, and Trustworthy AI.
• AI development and use must respect human rights and fundamental freedoms.
• Acknowledges the potential of AI to contribute to achieving the UN’s Sustainable Development Goals (SDGs).
• Call for international collaboration among countries to establish best practices and norms.
• Aims to ensure that all countries have access to the benefits and resources of AI, addressing the digital divide.

Source: Indian Express

Syllabus: GS-I, Subject: Current affairs, Topic: Indices and reports, Issue: Water reserves in India

Context: The Central Water Commission(CWC) report on water level in reservoirs.

Highlights:

• Reservoir Levels of more than 50% of India’s major reservoirs are below 40% capacity, with two-thirds below 50%.
• Patchy rainfall due to El Nino has led to drought conditions and prolonged dry spells.
• Available storage accounting for 38% of total storage capacity.

Impact:

• Strain on hydro-power dams, and delays in summer crop sowing affecting agriculture.
• Affects agriculture production.

Prelims Connect(Institutions in news)

Source: Mint

Syllabus: GS-III; Subject: Environment, Ecology and Disaster Management; Topic: Waste Management, Issue: Plastic Waste Management Rules

Context: The Environment Ministry released Plastic Waste Management (Amendment) Rules, 2024.

Rules:

• Define biodegradable plastics as those degrading without leaving microplastics.
• Calls for future standards to cover both compostable and biodegradable plastics.
• Reflect India’s commitment to combating plastic waste and promoting sustainable plastic use.

Prelims Connect(Terminology in news)

Source: The Hindu

Syllabus: GS-III, Subject: Economy, Topic: Growth and Development, Inclusion, Issue: Inequality

Context: Research paper “Income and Wealth Inequality in India, 1922-2023” released by World Inequality lab.

Key findings:

• Emergence of High Net worth Individuals: The number of individuals with net wealth exceeding $1 billion rose from 1 in 1991 to 162 in 2022.
• Tax Filing Expansion: Share of adults filing income tax returns increased from under 1% till the 1990s to around 9% in 2017-2020.
• Income Concentration: In 2022-23, 22.6% of India’s national income went to the top 1%, surpassing levels seen during the colonial period.
• Wealth Concentration: Extreme wealth concentration at the top tripled from 1961 to 2023, with significant gains post-1991 reforms.
• Global Comparison: India’s income share of the top 1% is among the highest globally, while wealth inequality ranks in the middle compared to other nations.
• Data Quality Issues: Poor data quality in India likely leads to underestimation of actual inequality levels.

Proposed solutions:

• A “super tax” of 2% on billionaires, multimillionaires, and restructuring the tax schedule to address rising inequalities.

Source: Indian Express

Syllabus: GS-II, Subject: Polity, Topic: Judiciary and Tribunals, Issue: Independence of Judiciary

Context: A Calcutta High Court Judge resigned to join a political party.

Key principles guiding judicial conduct:

• Concerns about judicial propriety, impartiality, institutional integrity, and independence.
• These values are foundational to judicial independence and are outlined in the Bangalore Principles of Judicial Conduct.
• The principles stress the importance of maintaining the dignity of the judicial office and ensuring impartiality and independence.
• Judges should restrain personal biases through education, training, and humility.
• Judges must exhibit inner strength to maintain judicial integrity.
• While judges may not need to make great sacrifices, they must engage in daily acts of self-denial to uphold their duties.

Source: Indian Express

Syllabus: GS-II, Subject: Polity, Topic: Legal Issues, Issue: Bills/Acts/Rules

Context: Government has notified the Citizenship amendment rules.

• The rules implement the 2019 Citizenship Amendment Act.
• Offers Indian citizenship for “illegal migrants” from Afghanistan, Bangladesh, or Pakistan.

Key Concerns:

• Applicants must prove citizenship and entry before 2014, a challenging task.
• Document-centric approach disregards the collapse of document systems in countries like Afghanistan.
• Composition and lack of procedures raise concerns over fair adjudication at Empowered and District Level Committees.
• Expectation to declare oneself as an “illegal migrant” exposes applicants to arbitrary state powers.
• Lack of transparent asylum mechanisms undermines the CAA’s humanitarian claims.

Source: Indian Express

Syllabus: GS-I, Subject: Geography, Topic: Industry – World and India, Issue: Nuclear Power plants

Context: Brussels hosted the first-ever Nuclear Energy Summit.

Significance of Nuclear power plants

• Emits four times less carbon than solar farms and other renewables.
• Offers uninterrupted energy supply regardless of geographical constraints.
• Lower operating costs, smaller land footprint, and longer life cycles compared to other renewable sources.
• Nuclear technology advancements (Small Modular Reactors) aim to mitigate nuclear-related risks.

Concerns

• Multilateral Development Banks and private investors have not significantly financed nuclear projects.
• Weaponization risk, radiation leaks, regulation, high upfront costs, and long project overruns hinder nuclear energy adoption in India.

The way ahead:

• Cooperative funding models in France, South Korea and the U.K. involve investors raising credit from the market and taking responsibility for project delivery.
• Finland’s ‘Mankala’ model, where multiple private companies jointly own energy producers, has successfully funded large power plants since the 1970s.

Source: The Hindu

Syllabus: GS-II, Subject: Polity, Topic: Judiciary and Tribunals, Issue: Independence of Judiciary

Context: A Calcutta high court judge  resigned to join a political party.

Concerns with judges joining politics post retirement/resignation:

• Raises questions about judicial independence and integrity.
• Raises doubts about the integrity of past judgments.

The way ahead:

• Revisit the Bangalore Principles of Judicial Conduct to address judiciary-politics transitions.
• The Law Commission recommended a cooling-off period of at least two years.
• Consider increasing the retirement age for judges.

Source: The Hindu

Syllabus: GS-I, Subject: Society and Social Justice, Topic: Issues of women, Issue: Effect of water insecurity on women

Data point:

• Over 41% of rural households in India lack access to safely managed drinking water within their homes. (NSSO 78^th Round)

Water insecurity-effects of on women:

• Water collection, a gendered activity, disproportionately burdens women and girls.
• Girls’ education suffers due to water-related burdens.
• Gender-based violence during water collection, affecting mental health.
• Inadequate water access and open defecation increase health risks like diarrhea.
• Women face risks of non-partner sexual violence due to these conditions.

Jal Jeevan Mission(JJM)-addressing these concerns:

• Focuses on providing household tap connections for drinking water access.
• This reduces women’s drudgery and empowers them for gainful activities.
• Increased participation of women in community engagement including Pani Samitis.
• JJM guidelines recommend training women for water quality monitoring.

Conclusion:

• Mainstream gender considerations in water access policy.

Source: The Hindu

Syllabus: GS-I, Subject: Current affairs, Topic: Indices and reports, Issue: United Nations World Water Development Report

Context: On World Water Day UNESCO has released the World Water Development Report.

Key Points:

1. A) Increasing importance of water diplomacy

• Enhanced cooperation on water sharing and adherence to International Water Law principles are vital.
• Collaborative governance ensures fair water allocation, promoting regional stability and peace.
• Inclusive approaches involving indigenous communities and civil society are key for effective water diplomacy.

1. B) Addressing the issue of transboundary waters

• Effective cross-border water governance is essential for equitable water allocation among nations sharing resources.

1. C) Addressing water crisis in rural India

Efficient use of AI in water conservation in agriculture promotes productivity and sustainability, addressing rural India’s needs.

Source: The Hindu

Syllabus: GS I, Subject: Geography, Topic: Resources – World and India, Issue: Water resource

Water crisis in India:

Causes:

• Rapid urbanization, industrialization, unsustainable agricultural practices, and climate change..
• Agriculture accounts for 72% of water withdrawals.
• Perennial rivers and streams are drying up, affecting water availability.
• Siltation in reservoirs and water bodies reduces storage capacity and efficacy.
• Increased tube well density leads to groundwater depletion surpassing recharge.
• Pollution from sewage and other sources deteriorates water quality.

The way ahead:

• Rainwater harvesting for enhancing water quantity and quality.
• Emphasis on programs like ‘per drop more crop’ and ‘Gaon ka pani gaon mein’.
• Revival of ponds and water bodies, along with monitoring groundwater levels.

Source: The Hindu

Syllabus: GS- III, Subject: Science and Technology, Topic: Defense Technologies, Issue: Missiles and artillery

Context: DRDO successfully tested Agni-V ballistic missile with MIRV capability under ‘Mission Divyastra’.

• MIRV (Multiple Independently-Targetable Reentry Vehicle): It is a technology that allows a single ballistic missile to carry multiple nuclear warheads and deliver them to separate targets.

Significance:

• Boosts India’s nuclear program and second-strike ability.
• Consistent with India’s nuclear doctrine: no-first-use, credible deterrence, and massive retaliation if attacked.
• Reinforces India’s deterrence, especially against China.
• Improves India’s response to nuclear aggression, fostering regional stability.

Concerns:

• Escalates regional dynamics, fueling one-upmanship through technological competition.
• Competition for advanced nuclear capabilities could heighten tensions and increase regional instability.

Source: The Hindu