Prelims Nuggets

Forum for India-Pacific Islands Cooperation (FIPIC) Summit

Context: Prime Minister of India has gone to Papua New Guinea to attend the 3^rd Forum for India-Pacific Islands Cooperation (FIPIC) Summit.

About Forum for India-Pacific Islands Cooperation (FIPIC)

The Forum for India–Pacific Islands Cooperation (FIPIC) was launched during Hon'ble Prime Minister, Mr. Narendra Modi's visit to Fiji in November 2014.

Member Islands: Cook Islands, Fiji, Kiribati, Marshall Islands, Micronesia, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.

India's focus has largely been on the Indian Ocean where it has sought to play a major role and protect its strategic and commercial interests. The FIPIC initiative marks a serious effort to expand India's engagement in the Pacific region.

At this moment, total annual trade of about $300 million between the Indian and Pacific Island countries, whereas exports are around $200 million and imports are around $100 million.

Areas of Cooperation:

Special USD one million fund for adapting to climate change and clean energy,
Establishing a trade office in India.
Pan Pacific Islands e-network to improve digital connectivity.
Extending visa on arrival at Indian airports for all the 14 Pacific Island countries.
Cooperation in space technology applications for improving the quality of life of the islands, and training to diplomats from Pacific Island countries.
In addition, India has increased the annual "Grant-in-Aid" from USD 125,000 to 200,000 to each of the 14 Pacific Countries for community projects of their choice, and launched a new Visitors Programme for Pacific Island Countries.
The second summit of the Forum for India Pacific Cooperation (FIPIC-2) in Jaipur on 21-22 August 2015 has made significant progress in strengthening India's engagement with the 14 Pacific Island countries.
During the second summit of FIPIC, Hon'ble Prime Minister has announced FIPIC Trade Office at Federation of Indian Chambers of Commerce & Industry (FICCI) to promote Trade & Investment opportunities between India & Pacific Island Countries.

The main objectives of the business accelerator are:

Provide necessary information and facilitation to businessmen on both sides regarding prospects of Trade and Investment
Facilitate meetings between the concerned businessmen from both sides
Exchange of business delegations between India and Pacific Islands Countries (PICs)
Online & Offline Match Making Services
Organising Events/ Trade Fairs

Harappan Civilisation

Context: A burial site has been discovered at Khatiya Village, in Kutch region, Gujarat. It is considered to be the largest pre-urban Harappan cemetery.

About Khatiya cemetery

Situated on the banks of the Gandi stream, which flows into the Great Rann of Kutch. Researchers believe that in prehistoric times, the Great Rann of Kutch was a navigable area through which the Ghaggar-Harka-Nara River used to pass. However, the river eventually dried up, transforming Kutch into an arid region.

Findings

The excavation at the cemetery has revealed 500 graves, out of which 197 have been excavated so far.
Relation to ‘pre-urban’ Harappan phase: The Harappan civilisation, is said to have thrived along the banks of river Indus from around 5,000 BC to 1,000 BC. It is divided into the pre-Urban phase (5,000 BC to 2,600 BC); Urban phase or Mature phase (2,600 BC to 1,900 BC) and Post-Urban phase (1,900 BC to 1,000 BC).

Burial goods: Shell bangle, pottery shards, stone blades and even human skeletal remains have been found.
Pottery: Found as burial goods at the Khatiya site are mainly redware, buffware and greyware. It is comparable to the pre-urban Harappan pottery of Sindh and Baluchistan and North Gujarat.
With these findings, conclusion is drawn that the cemetery is believed to be 5,000 years old, belonging to the ‘pre-urban’ phase of the Harappan civilisation.

Harappan Civilisation

The Harappan civilization, also known as the Indus Valley Civilization, is considered the beginning of Indian history. It can be divided into three phases:

Early Harappan Phase from 3300 to 2600 BCE.
Mature Harappan Phase from 2600 to 1900 BCE.
Late Harappan Phase from 1900 to 1300 BCE.

Early Harappan Phase

The early Harappan phase marked the transition towards the mature Harappan period.
During this phase, farmers from the highlands gradually migrated between their mountain residences and the lowland river valleys.
The earliest specimens of the Indus script date back to the third millennium BCE, and trade networks connected this civilization to other regional cultures and distant sources of raw materials.
By this time, the villagers had successfully cultivated a diverse range of crops such as peas, sesame seeds, dates, and cotton. Additionally, they also domesticated animals like the water buffalo.
By 2600 BCE, early Harappan villages had developed into major urban centres, signalling the beginning of the mature Harappan phase.

The following sites show how the Early Harappan phase originated and took shape:

Mehrgarh: The earliest evidence for this development comes from Mehrgarh, Baluchistan.

First phase: People used stone tools but no potteries are found.
Second phase: Stone tools were refined and potteries were made.
Third phase: Greater use of pottery and copper tools were introduced.
Incipient Urbanism: Gradually, villages were getting larger and agriculture more developed. It was from these settled agricultural communities, the early phase of the Harappan civilization developed, marked by beginning of cities.
Ghaggar-Hakra-Indus Axis: In this region, the civilisation developed fully. Around 40 Early Harappan sites have been discovered.

Amri: Located near the Indus River. It shows the development of Indus pottery tradition from hard made, monochrome potteries to nicely painted, wheel-made potteries decorated with humped Indian bull. The use of copper and bronze also increased.
Kot Diji: This was a very important Early Harappan site. It is located on the left bank of river Indus opposite Mohenjodaro. One important feature is the diverse forms of wheel-made potteries decorated with plain dark brown stripes. This kind of pottery has been named as the Kot-Dijian Pottery and was widely spread in the Indus area.
The motifs such as horned bull, scaled fish and pipal leaves, used in the Amri and Kot Diji potteries, have been found extensively even during the mature Harappan period.
Punjab, Rajasthan and Haryana:

Harappa: The site reveals the existence of Early Harappan phase. Kot Diji-type of potteries have been found. Lapis lazuli, steatite and terracotta human figurines are reported from these levels.
Kalibangan: Situated in north Rajasthan (on now dried-up Ghaggar bank). During its Early Harappan period, people lived in houses made of mud bricks of standard sizes.

Copper axes, terracotta bangles shell, carnelian etc. have been found. Evidences about the use of plough for agricultural purposes are found.

Banawali: Located at the now dried-up course of Ghaggar and Saraswati, Hissar district of Haryana. Material objects found at the site comprise potteries, terracotta bangles, terracotta animal figurines, shell etc. At one place, a depiction of covered cart with spoked wheel have been found.

WHO’s guidelines on non-sugar sweeteners

Context: World Health Organization (WHO) issued new guidelines on May 15 advising against the use of non-sugar sweeteners (NSS) as a “healthy” alternative to sugar.

What are non-sugar sweeteners?

Non-sugar sweeteners (NSS) are marketed as low or no-calorie alternatives to free sugars which aid in weight loss, and in controlling blood glucose in individuals with diabetes. They are widely used ingredients in beverages and pre-packed food.

Examples: Acesulfame K, aspartame, advantame, cyclamates, neotame, saccharin, sucralose, stevia, and stevia derivatives.

Aspartame is popularly used to sweeten diet colas that claim to have ‘no sugar, no calories.’
Saccharin is used to sweeten tea or coffee.

Associated health risks:

As per a trial conducted by WHO ‘higher intake’ of NSS was associated with a 76% increase in risk of obesity and a 0.14 kg/m2 increase in BMI (Body Mass Index).
- As per WHO, while there could be some weight loss and reduction in BMI in the short term as the artificial sweeteners bring down the calories consumed, but in the long run they have been linked to weight gain.
WHO warned that long-term use of NSS could lead to increased risk of Type 2 diabetes, cardiovascular diseases, chronic kidney disease and cancer.
Some low-certainty data also linked the use of such artificial sweeteners to bladder cancer and preterm birth when consumed by pregnant women.

Guidelines by WHO:

In its ‘conditional’ guideline, WHO says non-sugar sweeteners should not be used as a means of achieving weight control or reducing the risk of diet-related non-communicable diseases.
- In 2015, WHO issued a guideline that a high intake of free sugars is linked to weight gain and obesity, which lead consumers to turn to NSS as an alternative.

The Ministry of Health will have to initiate discussions among policy-makers before it decides to adopt this ‘conditional’ recommendation as a national policy.

Submarines- India's Sea-based deterrent

Context: Recently, the Navy’s Kilo-class submarine INS Sindhuratna underwent a major upgrade (Medium Refit Life Certification process) in Russia which extended its life.

About INS Sindhuratna:

INS Sindhuratna is a Sindhughosh-class diesel-electric submarine of the Indian Navy that was commissioned in 1988.
- The Sindhughosh-class submarines were built in the Soviet Union (now Russia) and were later acquired by the Indian Navy.
The submarine with its modernised weapon and sensor suite enhances the force level in the Indian Ocean Region.

Main classes of submarines in service with the Indian Navy:

Sindhughosh-class: Variant of the Russian Kilo-class submarines. E.g., INS Sindhurakshak, INS Sindhuvir, INS Sindhuratna.
Shishumar-class: Based on the German Type 209 design, these are diesel-electric submarines equipped with advanced systems. E.g., INS Shishumar, INS Shankush, INS Shalki, and INS Shankul.
Kalvari-class (Scorpène-class): Based on the Scorpène design developed by Naval Group (France). E.g., INS Kalvari, INS Khanderi, INS Karanj, INS Vela, INS Vagir, and INS Vagsheer (yet to be commissioned).
Arihant-class: India's indigenous nuclear-powered ballistic missile submarines (SSBNs). Currently, INS Arihant is the only operational submarine of this class. The second in the series, INS Arighat, is in the final stage of sea trials. These submarines are equipped with nuclear propulsion and are capable of carrying ballistic missiles.
Chakra-class: Nuclear-powered attack submarines leased from Russia. Currently, INS Chakra-II, the submarine of this class, is in service with the Indian Navy. Chakra-III is expected to be delivered to the Indian Navy by 2025.

Project 75:

Project 75 includes the indigenous construction of six Kalvari-classScorpene submarines developed by the Naval Group- a French defence major and the Spanish state-owned entity Navantia.
- The submarines are being constructed at Mazagon Dock Shipbuilders Limited (MDL) Mumbai in collaboration with Naval Group.
The submarines are INS Kalvari, INS Khanderi, INS Karanj, INS Vela and INS Vagir (already commissioned into the Navy) and INS Vagsheer (under sea-trail) was launched in April 2022.
This class of submarines have Diesel Electric transmission systems and are attack submarines or the ‘hunter-killer’ type which are designed to target and sink adversary naval vessels.
They have the capability of operating in a wide range of Naval combat including anti-warship and anti-submarine operations, intelligence gathering and surveillance, and naval mine laying.

Project 75-I:

Project 75-I is distinct from Project 75. Project 75-I seeks to acquire submarines with more advanced capabilities to meet evolving maritime challenges and technological advancements.
Project 75-I is an initiative by the Indian Navy to acquire six conventional, diesel-electric attackadvanced submarines for its fleet. The advanced capabilities include air-independent propulsion (AIP), ISR, special operations forces (SOF), anti-ship warfare (AShW), anti-submarine warfare (ASW), anti-surface warfare (ASuW), land-attack capabilities and other features.
- Air-independent propulsion (AIP) systems allow submarines to remain submerged for longer durations without the need to surface, and thus, significantly enhance the operational endurance and stealth capabilities of submarines.

The project aims to build these submarines under the strategic partnership model, which involves collaboration between Indian shipyards and foreign original equipment manufacturers (OEMs).

Regeneration in Axolotl

Context: Scientists are studying how the Mexican axolotl quickly regenerates lost limbs, gills, tails, eyes, and even parts of the head. Studying regeneration in other species could help researchers understand how to increase human’s chances to regenerate lost body parts and develop regenerative medicines.

Regeneration of body parts:

Regeneration means the regrowth of a damaged or missing organ part from the remaining tissue.
Regeneration can happen in different ways using pluripotent stem cells or somatic stem cells (tissue-specific stem cells). Some regeneration can also happen without stem cells at all (E.g., the regeneration of Zebra fish hearts)
Some human organs, E.g., the liver and skin, also regenerate when they are damaged.
- If part of the liver is lost by disease or injury, the liver grows back to its original size, though not its original shape.
- Our skin is constantly being renewed and repaired. However, skin cannot restore lost or damaged tissue to its original state.

About Axolotl:

Axolotl is a species of salamander (lizard-like amphibian) originally found in Lake Xochimilco, near Mexico City.
It is renowned for its ability to regenerate its spinal cord, heart and limbs. These amphibians can regenerate parts of their brains, even if a large section was completely removed and can readily make new neurons throughout their lives.
They are now almost extinct in the wild and bred in captivity.
IUCN status: Critically Endangered

Understanding a human pangenome map

Context: Human Pangenome Reference Consortium has released a pangenome reference map built using genomes from 47 anonymous individuals (19 men and 28 women), mainly from Africa but also from the Caribbean, Americas, East Asia, and Europe.

What is a genome?

The genome is the blueprint of life, a collection of all the genes and the regions between the genes contained in our 23 pairs of chromosomes.
Each chromosome is a contiguous stretch of DNA string, i.e., the human genome consists of 23 different strings, each composed of millions of individual building blocks called nucleotides or bases [adenine (A), cytosine (C), guanine (G), and thymine (T)]. These bases or building blocks (A, T, G and C) are arranged and repeated millions of times in different combinations to make all of our 23 chromosomes.
Genome sequencing is the method used to determine the precise order of the four bases and how they are arranged in chromosomes. Sequencing individual genomes helps us understand human diversity at the genetic level and how prone we are to certain diseases.

What is a reference genome?

Human reference map or reference genome, represents a single, representative genome sequence for a given species or individual. The reference map is typically derived from the genome of an individual that is chosen as a representative of the species or a reference panel of individuals from the same population.
When genomes are newly sequenced, they are compared to a reference genome, i.e., it serves as a standard or reference against which other genomes can be compared and aligned. This helps us to understand the regions of differences between the newly sequenced genome and the reference genome.
One of this century’s scientific breakthroughs was the making of the first reference genome in 2001. It helped scientists discover thousands of genes linked to various diseases; better understand diseases like cancer at the genetic level; and design novel diagnostic tests.
- The reference genome of 2001 was 92% complete and contained many gaps and errors. Additionally, it was not representative of all human beings as it was built using mostly the genome of a single individual of mixed African and European ancestry.
- Since then, the reference genome map has been refined and improved to have complete end-to-end sequences of all 23 human chromosomes and is still continuously evolving to fill the gaps.

What is a pangenome?

The pangenome refers to the entire set of genes present in a species, including both the core genome (genes present in all individuals) and the accessory genome (genes present in only some individuals or strains).
A pangenome map typically involves the identification and annotation of genes and their genomic locations within a species. It provides insights into the genetic diversity and variability within a species, as well as the presence of specific genes or gene variants in different individuals or populations.
By comparing the genomes, researchers can identify shared genes and gene clusters as well as unique genes present in specific individuals.

Importance of pangenome map:

Humans are more than 99% similar in their DNA, there is still about a 0.4% difference between any two individuals. This may be a small percentage, but considering that the human genome consists of 3.2 billion individual nucleotides, the difference between any two individuals is a whopping 12.8 million nucleotides.
A complete and error-free human pangenome map will help us understand those differences and explain human diversity better.
It will also help us understand genetic variants in some populations, which result in underlying health conditions. E.g., The pangenome reference map has added nearly 119 million new letters to the existing genome map and has already aided the discovery of 150 new genes linked to autism.

Limitations:

The genomes from many populations are still not a part of it. E.g., In the current version of the pangenome map, genomes from people from the Indian sub-continent, indigenous groups in Asia and Oceania, and West Asian regions are not represented.

To read more about ‘Genome Sequencing and the Genome India Project’, kindly click on the link given below: https://compass.rauias.com/current-affairs/genome-sequencing-and-the-genome-india-project/

How carbon dating works

Context: Radiocarbon dating is currently under the spotlight as the Supreme Court deferred the implementation of a direction given by the Allahabad High Court to conduct carbon dating and scientific survey of the ‘Shivling’ allegedly found on the Gyanvapi mosque premises in Varanasi.

Radiocarbon dating:

Radiocarbon dating is a technique developed to determine the age of certain archaeological artefactsof a biological origin (bone, cloth, wood and plant fibres).
- It was developed in the late 1940s by University of Chicago professor Willard Libby (who won the Nobel Prize for Chemistry in 1960).
The method utilises the properties of radiocarbon (carbon 14) which is an isotope of carbon that is unstable and weakly radioactive. The method is designed to measure residual radioactivity

The process:

It is based on the amount of radioactive carbon and non-radioactive carbon measured in an organic sample. These amounts exist in a fixed ratio in all living organisms, but the ratio changes over time after death.
Plants absorb carbon from the atmosphere as part of carbon dioxide and pass it on to other organisms across the food chain. The proportion between radioactive and non-radioactive carbon in all these organisms, therefore, is the same as their proportion in the atmosphere.
This ratio does not change throughout an organism’s lifetime. Although radioactive carbon decays over time, it gets replenished continuously as the organism regenerates tissue. After the organism dies, however, radioactive carbon decays without being replenished.

For dating an organic sample, researchers measure both radioactive carbon (called C14) and the commonest form of non-radioactive carbon (C12). They calculate the ratio between the two amounts and compare this with the known ratio in living organisms. This tells them how much C14 has decayed.
Since, the rate at which C14 decays is already known. Having worked out how much has decayed in the sample, researchers can calculate the time it would have taken for that amount of decay – in effect, the age of the sample.
Radiocarbon dating does not, however, work with samples older than 55,000 years. By then, so much C14 would have decayed that it would no longer be possible to measure whatever remains.

Uses:

Radiocarbon dating works only onorganic samples from the past, or something that was once alive and is now dead. That puts certain materials – such as rock – beyond its scope.
- If the structure is made of rock, radiometric dating of various isotopes can determine the rock’s geological age – but not when it was sculpted, carved, or otherwise worked on by human hands
It may work on cement or mortar if there is an organic material trapped inside it, based on measuring the decay in the organic material.
It can also be done on paint, which contains a mix of organic and inorganic pigments.

Even limited Arsenic exposure can mar cognitive ability

Context: As per a latest study, even low levels of Arsenic consumption may impact cognitive function in children, adolescents, and young adults.

Those exposed to Arsenic had reduced grey matter (brain tissue that is vital to cognitive functions) and weaker connections within key regions of the brain that enable concentration, switching between tasks, and temporary storage of information.

Arsenic contamination of water:

Arsenic is a natural component of the earth’s crust and is widely distributed throughout the environment in the air, water and land. Highly toxic in its inorganic form, it is introduced into soil and groundwater during weathering of rocks and minerals followed by subsequent leaching and runoff.
People are also exposed to elevated levels of inorganic Arsenic through:
- Drinking or using contaminated water in food preparation and irrigation of food crops
- Industrial processes (Arsenic is used industrially as an alloying agent, and in the processing of glass, pigments, textiles, paper, metal adhesives, wood preservatives and ammunition)
- Smoking tobacco (tobacco plants can take up Arsenic naturally present in the soil).

Impacts:

Long-term exposure can lead to mortality due to chronic Arsenic poisoning, multiple cancers (skin lesions and skin cancer), lung disease, heart attacks, kidney failure and diseases of the skin (colour changes, and hard patches on palms and soles).
Negative impacts of Arsenic exposure on cognitive development, intelligence and memory.
Adverse pregnancy outcomes, infant mortality and impacts on child health.

Management of Arsenic contamination:

A common strategy employed is to encourage piped water access rather than groundwater extraction, adopting rainwater harvesting/ watershed management practices and installing Arsenic removal plants.

Stock Market Regulation in India

Context: The Securities and Exchange Board of India (SEBI) has proposed changes in the current definition of unpublished price sensitive information (UPSI) in a bid to bring regulatory certainty and uniformity in compliance by listed entities.

About Stock Markets

It is a place where shares of public listed companies are traded.
The primary market is where companies float shares to the general public in an initial public offering (IPO) to raise capital.
Once new securities have been sold in the primary market, they are traded in the secondary market - where one investor buys shares from another investor at the prevailing market price or at whatever price both the buyer and seller agree upon. The secondary market or the stock exchanges are regulated by the regulatory authority.
In India, the secondary and primary markets are governed by the Security and Exchange Board of India (SEBI).
A stock exchange facilitates stock brokers to trade company stocks and other securities. A stock may be bought or sold only if it is listed on an exchange. Thus, it is the meeting place of the stock buyers and sellers. India's premier stock exchanges are the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Laws Governing the Market

The securities market in India is regulated by four key laws:
- The Companies Act, 2013
- The Securities and Exchange Board of India Act, 1992 (SEBI Act)
- The Securities Contracts (Regulation) Act, 1956 (SCRA)
- Depositories Act, 1996.
The framing of these laws reflect the evolution and development of the capital market in India.

Securities and Exchange Board of India (SEBI)

Structure:
- Sebi is run by its board of members. The board consists of a Chairman and several other whole time and part time members.
- The chairman is nominated by the union government.
- The others include two members from the finance ministry, one member from Reserve Bank of India and five other members are also nominated by the Centre.
- The headquarters of Sebi is situated in Mumbai and the regional offices are located in Ahmedabad, Kolkata, Chennai and Delhi.
The SEBI Act empowers SEBI to protect the interests of investors and to regulate and promote the development of the capital/securities market.
- SEBI was given the power to register intermediaries like stock brokers, merchant bankers, portfolio managers and regulate their functioning by prescribing eligibility criteria, conditions to carry on activities and periodic inspections.
- It also has the power to impose penalties such as monetary penalties, including suspending or cancelling the registration.
The SCRA empowers SEBI to recognise (and derecognise) stock exchanges, prescribe rules and bye laws for their functioning, and regulate trading, clearing and settlement on stock exchanges.
As part of the development of the securities market, Parliament passed the Depositories Act and SEBI made regulations to enforce the provisions.
- This Act introduced and legitimised the concept of dematerialised securities being held in an electronic form. Today almost all the listed securities are held in dematerialised (DEMAT) form. SEBI set up the infrastructure for doing this by registering depositories and depository participants.
- The depository regulations empower SEBI to regulate functioning of depositories and depository participants by prescribing eligibility conditions, periodic inspections and powers to impose penalties including suspending or cancelling the registration as well as monetary penalties.
Appeals against orders of SEBI and the stock exchanges can be made to the Securities Appellate Tribunal (SAT) comprising a presiding officer and two other members. Appeals from the SAT can be made to the Supreme Court.

Functions Of SEBI

Curbing Market Volatility:
- While SEBI does not interfere to prevent market volatility, exchanges have circuit filters — upper and lower — to prevent excessive volatility.
- However, SEBI can issue directions to those who are associated with the market, and has powers to regulate trading and settlement on stock exchanges.
  - Using these powers, SEBI can direct stock exchanges to stop trading, totally or selectively.
  - It can also prohibit entities or persons from buying, selling or dealing in securities, from raising funds from the market and being associated with intermediaries or listed companies.
Monitor Fund-raising:
- The Companies Act, which regulates companies incorporated/registered in India, has delegated the authority to enforce some of its provisions to SEBI, including the regulation of raising capital, corporate governance norms such as periodic disclosures, board composition, oversight management and resolution of investor grievances.
- Specific regulations are enacted by SEBI from time to time in order to:
  - Regulate fund-raising activities
  - Ensure that listed companies followed corporate governance norms
  - Regulation of entities involved in fund-raising through issues of capital such as merchant bankers.
Regulate Stock Exchanges:
- The SCRA has empowered SEBI to recognise and regulate stock exchanges and later commodity exchanges in India. Powers of SEBI in this regard concerns with:
  - Declare an instrument as a security.
  - Regulate listing of securities like equity shares, the functioning of stock exchanges including control over their management and administration.
  - Powers to determine the manner in which a settlement is done on stock exchanges and recognising and regulating clearing corporations.
  - Provision for arbitrating disputes that arise between stock brokers who trade on stock exchanges and investors who are clients of such stock brokers.
  - Protect the interests of investors by creating an Investor Protection Fund for each stock exchange.
Safeguards Against Fraud:
- Fraud undermines regulation and prevents a market from being fair and transparent.
- SEBI has been given the powers of a civil court to summon persons, seize documents and records, attach bank accounts and property, and to carry out investigations.
- SEBI notified Regulations to:
- Prevent the two key forms of fraud, market manipulation, and insider trading.
- Ensures protection of investors’ interests by regulating the listing and trading of equity shares and other securities, and by registering and regulating institutions handling public funds.

Challenges In Stock Market Regulations

Enforcement process: SEBI has made various regulations and issued orders as a civil court but only making regulations and giving orders is not enough if it is not able to enforce the same.
Dearth of human resources: SEBI unable to attract smart bright talent inside SEBI. In 2012 SEBI had 643 employees whereas the US security and exchange commission alone had 1000 people.
Deepening capital market: The total number of DEMAT accounts increased by 37% in the last year, however monthly active users have declined. SEBI has done a lot to encourage people to participate in the capital market such as abolishing entry load on mutual funds, simplifying KYC norms but it needs to take some stronger steps to deepen participation in the capital market.
Corporate debt and securitization market: Despite numerous attempts the debt market volume has increased but it has failed to attract sufficient liquidity.
Matching up to global standard: Capital markets are growing and the size of SEBI as compared to the security market is not sufficient to properly regulate the capital market.
Non-transparent recruitment process: SEBI’s appointment process has always been criticised. Allegations of corruption by SEBI staff are frequently heard. The accountability mechanisms that envelope SEBI are quite poor.
Wide legislative and discretionary powers with SEBI
Limited and selective prior consultation with the market.
Securities offering documents are extraordinarily bulky with little to no substantive disclosures of high quality.
Obsolete Regulations: as regulations on merger and acquisition are nearly six years old.

Way Forward

SEBI needs to strengthen its surveillance and enforcement functions.it needs to ensure that violations do not go unnoticed whether small or large.
It also needs to increase its human resource in both quality and quantity. It needs to significantly improve its market intelligence, technology and talent pool in order to improve its performance.
SEBI should work deeper participation in equity by pension, superannuation and gratuity funds, developing a vibrant retail debt segment and reducing the cost of transaction.
The regulator needs to develop a vibrant corporate debt market and securitization market but these largely remain part of the over the counter market.
Like its peers (regulators of US and UK) it needs to establish self-regulatory organisations. They can focus on routine decisions and SEBI can work on more important issues.
It is also very important to make the recruitment process fair and transparent.

WMO Annual Update: Projections for Next Decade's Temperature Trends

Context: The World Meteorological Organisation (WMO) has released its yearly update on its forecasts for temperature trends over the following ten years.

Key points

The annual mean global near-surface temperature for each year between 2023 and 2027 is likely to be 1.1°-1.8°C higher than the average from 1850-1900.
There is a 66% chance that the global near-surface temperature will exceed 1.5°C above pre-industrial levels, in at least one year before 2027 though it is unlikely that the five-year mean will exceed this threshold.
At least one of the years, from 2023 to 2027 will be the hottest on record — exceeding the 14.84°C reported in 2016 (it was about 0.07°C warmer than the previous record set in 2015).
The five-year mean for 2023-2027 was very likely to be higher than that in the last five years (2018-2022).
The El Niño-Southern Oscillation (ENSO) is likely to be positive in December to February 2023-24, meaning that the Central Equatorial Pacific Ocean is likely to be at least half a degree, more likely over a degree above what is normal.
Hotter oceans also mean stronger cyclones. For Example- Cyclone Mocha, which barrelled through Myanmar this week and claimed at least 60 lives and wrought severe damage.

Forecast for India

The WMO update does not have specific inputs for India; however, the overall trend in indicators suggests that India, dependent as it is on rain-fed agriculture and with its long coastline, will be severely tested due to changes in the global climate.
India’s abilities at forecasting cyclones and weather anomalies have improved but developing resilience is far more challenging. Greater investments in bolstering disaster-related infrastructure are the need of the hour.

Paris Agreement

The Paris Agreement is a legally binding international treaty on climate change. It was adopted by 196 Parties at COP 21 in Paris, in 2015.

Important Provisions of Paris Agreement

Long-term temperature goal (Art. 2) – limiting global temperature increase to well below 2 degrees Celsius, while pursuing efforts to limit the increase to 1.5 degrees.
Mitigation (Art. 4) – The Paris Agreement establishes binding commitments by all Parties to prepare, communicate and maintain a nationally determined contribution (NDC) and to pursue domestic measures to achieve them.
It also prescribes that Parties shall communicate their NDCs every 5 years and provide information necessary for clarity and transparency.
Finance, technology and capacity-building support (Art. 9, 10 and 11) – The Paris Agreement reaffirms the obligations of developed countries to support the efforts of developing country Parties to build clean, climate resilient futures, while for the first time encouraging voluntary contributions by other Parties.

Global Stocktake (Art. 14) – A “global stocktake”, to take place in 2023 and every 5 years thereafter, will assess collective progress toward achieving the purpose of the Agreement in a comprehensive and facilitative manner.

World Metrological Organisation

WMO is a specialized agency of the United Nations (UN) with 193 Member States and Territories.
Its mandate is in the areas of meteorology (weather and climate), operational hydrology and related geophysical sciences.
The Secretariat, headquartered in Geneva, is headed by the Secretary General.
India is a member of WMO. It has been the member since 1949
WMO reports

Green House Gas Bulletin
Status of World Climate

Supreme Court upholds Tamil Nadu Jalikattu Law

Context: A five judge bench of the Supreme Court upheld the amendments made by Tamil Nadu, Maharashtra and Karnataka to the Prevention of Cruelty to Animals (PCA) Act of 1960. These amendments allowed the bull taming sports like Jallikattu, Kambala and bullock cart races.

What is Jallikattu?

Jallikattu is a traditional bull-taming sport that is primarily practiced in the Indian state of Tamil Nadu. The word "Jallikattu" is derived from the Tamil words "Jalli" (meaning gold or silver coins) and "Kattu" (meaning a bundle). The sport involves the running of bulls in an open field, and participants attempt to grab the bull's hump and hold on to it for a certain distance or time to win prizes, which are usually tied to the bull's horns.

What is the controversy surrounding Jallikattu?

Controversy surrounding Jallikattu stems from concerns related to animal welfare and the treatment of the bulls involved.
Animal rights activists argue that the sport inflicts unnecessary harm and cruelty on the bulls.
They claim that the bulls are often subjected to physical abuse, including being prodded, poked, and harassed by the participants, which can lead to injuries and distress.
Activists also highlight instances where the bulls are reportedly force-fed alcohol or chili powder to agitate them before the event.

How the Supreme Court has seen this case so far?

In 2014, the Supreme Court of India banned Jallikattu, citing animal welfare concerns. The court observed that the bulls used in the sport are often subjected to unnecessary pain and suffering.
The ban sparked protests in Tamil Nadu, where Jallikattu is deeply rooted in the cultural and social fabric. Supporters of Jallikattu argue that it is an integral part of Tamil tradition and should be preserved as a cultural heritage.
They claim that proper regulations and safeguards can be implemented to ensure the welfare of the animals without completely banning the sport.
The controversy surrounding Jallikattu intensified in 2017 when widespread protests erupted in Tamil Nadu against the ban. The protests gained momentum, with people demanding the revival of the sport and a reversal of the court's decision.
Eventually, in 2017, the Tamil Nadu government passed an amendment to the Prevention of Cruelty to Animals Act, which exempted Jallikattu from the ban and allowed its practice under certain regulations. This move received mixed reactions, with some celebrating it as a victory for tradition and others expressing disappointment over what they perceived as a compromise on animal welfare.

What happened after the 2014 ban by the Supreme Court?

The Supreme Court over-ruled its 2014 judgement, which had essentially outlawed sports like Jalikattu, Kambala and Bullock Cart race.
In 2017, the Tamil Nadu government amended the PCA act thereby allowing jallikattu in the state. The state government sought exemption on grounds to preserve the cultural heritage of Tamil Nadu and to ensure survival and well-being of native breeds of bulls.
Following the Tamil Nadu, Karnataka government amended the PCA Act in Jan- 2017 to pave the way for Kambala.
In July-2017, Mahrashtra government also followed the suit.

What is the latest Supreme Court judgement all about?

Tamil Nadu Amendment Act is not a piece of colourable legislation.
2017 amendment act minimises cruelty to animals in the concerned sports.
The sports will not come under the definition of cruelty defined in the 1960 Act.
2017 amendment does not violate Article 51-A (g) and 51-A(h), which imposes duties of Indian citizen to protect the environment and develop scientific temper.
The amendment does not violate Article 14 and 21.

What is doctrine of colourable legislation?

The doctrine of colourable legislation is a legal principle used to determine the constitutional validity of a law or legislation. It refers to a situation where a law appears to be valid on its face, but its true purpose is to circumvent constitutional limitations or deceive the courts or the public.
The term "colourable" means something that appears to be true or genuine but is, in fact, false or deceptive. In the context of legislation, it refers to a law that is enacted under the pretense of exercising a valid legislative power, but its actual purpose is to achieve an unconstitutional objective.

What is Kambala?

Kambala is a traditional sport that originated in the southern coastal region of Karnataka, India. It is a form of buffalo racing that has been practiced for centuries in rural communities.
Kambala is usually held in the months of November to March during the harvest season.
In Kambala, two buffalo racers called "jockeys" run through a muddy paddy field while holding onto a wooden plow. The jockeys are typically barefoot and are often seen wearing colorful attire.

The buffaloes used in the race are specially bred and trained for this purpose. They are typically guided by the jockey, who tugs at the plow to urge the buffaloes to run faster.
Kambala is not only a sporting event but also a significant cultural celebration in the region. The races are often accompanied by traditional music and dance performances, and the entire community comes together to participate in the festivities. Kambala is seen as a way to honor and showcase the agricultural heritage of the region.

What is Bullock Cart race festival of Maharashtra?

Bullock cart racing starts from November and lasts till May.
It is a cultural activity and popular amongst farming community in Alibag Taluka in Maharashtra.
Local Bullock art owners and farmers arrange this race mostly in their villages. Bullock cart owners pay obeisance to Shri Nageshwar during Vaikunth Chaturdashi Yatra at Awas.

The Maharashtrian version of bullock cart racing was known as Bailgada Sharyat, a 450-year-old tradition of the farmers of Konkan, western Maharashtra and Marathwada.
These cattle races formed an integral part of the Jatras or village fairs that were held between Makar Sankranti and the Monsoon months, a time when the farmers were not busy in the fields.
The money that is raised by the races is utilized for the betterment of the village and for the renovation of the local temples. In this manner, cattle racing in India is an adventure sport that also helped to raise funds for social causes.

World Meteorological Organization

Context: In the final report released by the expert group setup by WMO highlighted a general negative association between temperature and Covid 19 transmission. The expert group was setup in 2020 to assess whether meteorological factors like heat and humidity had any role to play in transmission of Covid 19 virus.

About WMO

WMO is a specialized agency of the United Nations (UN) with 193 Member States and Territories.
It is the UN system's authoritative voice on the state and behaviour of the Earth's atmosphere, its interaction with the land and oceans, the weather and climate it produces and the resulting distribution of water resources.

Origin

WMO originated from the International Meteorological Organization (IMO), which was founded in 1873 to facilitate the exchange of weather information across national borders.
Established in 1950, the WMO became a specialized agency of the United Nations in 1951. Its mandate is in the areas of meteorology (weather and climate), operational hydrology and related geophysical sciences.
It has fostered collaboration between the National Meteorological and Hydrological Services of its Members and furthered the application of meteorology in many areas.
In collaboration with other United Nations agencies and National Meteorological and Hydrological Services, WMO supports the implementation of a number of environmental conventions and is instrumental in providing advice and assessments to governments on related matters. These activities contribute towards ensuring the sustainable development and well-being of nations.

Governance Structure

Secretariat: The Secretariat, headquartered in Geneva, is headed by the Secretary-General.
In June 2019, the World Meteorological Congress approved a reform of the WMO governance and a vision for 2030 as well as other changes that called for an overhaul of the structure of the Secretariat. One of the most important changes implemented thus far is the creation of a Board of Directors.
WMO undertakes this task through the National Meteorological and Hydrological Services of its Members, which own and operate the systems for collecting, processing and analysing information from thousands of observation systems, including satellites and ships. It also ask Services to develop climate change detection tools and software to compute indices that reflect the best estimate of climate trends within the countries.
WMO issues Annual, Five-Year and Decadal Statements on the Status of the Global Climate. These statements document extreme weather and climate events in the regional context and provide a historical perspective on the variability and trends of climate, particularly surface temperatures that have occurred since the 19th century.
India is a member of WMO. It has been the member since 1949 and India’s permanent representative is the head Director General of Meteorology of the IMD.

WMO reports

Green House Gas Bulletin
Status of World Climate