July 29, 2023 | Your One-Stop Solution for Daily Preparation
World Tigers Day | Explained
Discover the remarkable journey of tiger conservation in India and the triumphs it has achieved. Explore the cultural and ecological importance of tigers, the threats they face, and the comprehensive efforts to safeguard their future. Learn about Project Tiger and the 53 tiger reserves. Join the call to action on World Tigers Day to protect these majestic creatures and preserve our forests' guardians for generations to come.
Highlights of the Day
1. Indian Government Greenlights Direct Listing of Equity Shares on IFSC Finance Minister Nirmala Sitharaman announced the government's decision to allow both listed and unlisted domestic companies to directly list their equity shares on the International Financial Services Centre (IFSC) in Ahmedabad. This move aims to grant Indian companies access to global capital and enhance their valuation. The existing legal framework restricts Indian companies from directly listing on foreign stock exchanges, limited to routes like American Depository Receipts (ADR) and Global Depository Receipts (GDR). Sitharaman also highlighted the consolidation of securities market laws into a Securities Market Code, promoting ease of doing business and market growth. Additionally, the launch of the Corporate Debt Market Development Fund (CDMDF) and AMC Repo Clearing Ltd (ARCL) will further stabilize the corporate bond market [1].
2. Study Warns of Glacial Lake Formation in Ladakh's Parkachik Glacier, Raises Concerns Over Water Scarcity and Outburst Risks A study by the Wadia Institute of Himalayan Geology reveals that Parkachik Glacier in Ladakh is experiencing rapid ice melt, leading to the likely formation of three glacial lakes. The glacial retreat has accelerated over the years, posing risks of glacial lake outbursts and causing water scarcity. The glacier's lower altitude and global warming are contributing factors. Satellite imagery and field surveys show significant retreat rates, with a potential risk of glacial lake outbursts and the loss of a crucial water source for the region. The study highlights the urgent need for monitoring and addressing glacial changes to mitigate potential disasters [2].
3. Sixteenth Finance Commission to Address Challenges Including State Shares in Taxes, Debt-GDP Ratios, and Fiscal Deficits The upcoming Sixteenth Finance Commission faces critical challenges due to significant changes since the Fifteenth Commission's formation in 2017, including COVID-19 and geopolitical challenges. The government debt-GDP ratio has risen to around 90%, and many states show fiscal imbalances. The Commission will re-examine the share of states in central taxes, which declined due to increased cesses and surcharges. It may freeze the share of cesses and surcharges at a base number and prioritize equalization in resource transfers, considering population, area, and distance as criteria. The debt and fiscal deficit to GDP ratios need re-evaluation, along with tackling subsidies and fiscal deficits. A loan council may oversee loan magnitudes for the central and state governments [3].
4. Monoculture Plantations Threaten Elusive Amphibians and Reptiles in Maharashtra's Sahyadri Plateaus The shift from traditional local grain cultivation to monoculture plantations of mango and cashew in Maharashtra's Sahyadri plateaus is negatively impacting elusive amphibians, insects, and reptiles that seek shelter under loose rocks. A team of scientists studied these rocky habitats and found that the changing land-use pattern is threatening the survival of endemic and threatened species. The rapid expansion of mango orchards has further reduced the available rocky plateaus, leading to a decline in animal populations. The study emphasizes the need to preserve representative plateau habitats in partnership with local communities and highlights the importance of conserving biodiversity in the region [4].
5. Education Minister Introduces Bill to Make President Visitor of IIMs, Raises Concerns Over Autonomy Impact The Indian Institutes of Management (Amendment) Bill introduced by Union Education Minister Dharmendra Pradhan proposes to make the President the Visitor of all IIMs, granting the Visitor the power to nominate the Chairperson of the Board of Governors and constitute an interim Board in case of suspension or dissolution. The Bill also seeks to change the National Institute of Industrial Engineering, Mumbai, to the Indian Institute of Management, Mumbai. Experts express concerns that these amendments may impact the autonomy of IIMs, bringing them under a governance structure similar to Central Universities. The move has raised apprehensions about the encroachment on IIMs' independence and decision-making capabilities [5].
Source: The Hindu | Indian Express
Practice Questions for Prelims
Q1: Statement 1: Monetarism is an economic theory that advocates for controlling the money supply to stabilize economic growth and reduce inflation. Statement 2: The Reserve Bank of India (RBI) uses open market operations to regulate the money supply in the economy.
a) Only Statement 1 is true. b) Only Statement 2 is true. c) Both Statement 1 and Statement 2 are true. d) Neither Statement 1 nor Statement 2 is true.
Q2: Statement 1: The Richter scale is used to measure the magnitude of earthquakes. Statement 2: The Mercalli intensity scale is used to measure the damage caused by earthquakes.
a) Only Statement 1 is true. b) Only Statement 2 is true. c) Both Statement 1 and Statement 2 are true. d) Neither Statement 1 nor Statement 2 is true.
Q3: Statement 1: The Gupta Empire is known for its significant contributions to art, science, and literature, often referred to as the "Golden Age" of India. Statement 2: Chandragupta Maurya was the founder of the Gupta Empire.
a) Only Statement 1 is true. b) Only Statement 2 is true. c) Both Statement 1 and Statement 2 are true. d) Neither Statement 1 nor Statement 2 is true.
Q4: Statement 1: The President of India can proclaim a national emergency if the security of the country is threatened by war or external aggression. Statement 2: During a national emergency, the Parliament can extend the term of Lok Sabha beyond five years through a special resolution.
a) Only Statement 1 is true. b) Only Statement 2 is true. c) Both Statement 1 and Statement 2 are true. d) Neither Statement 1 nor Statement 2 is true.
Q5: Statement 1: Deforestation can lead to an increase in greenhouse gas emissions. Statement 2: Afforestation refers to the process of converting forests into agricultural land.
a) Only Statement 1 is true. b) Only Statement 2 is true. c) Both Statement 1 and Statement 2 are true. d) Neither Statement 1 nor Statement 2 is true.
Today’s Question for Mains Answer Writing
Discuss the dynamics of federalism in India and the evolving nature of Centre-State relations, along with measures to strengthen cooperative federalism for inclusive development. (Word limit: 250 words).
Need help in writing or evaluation?
What we see matters
Some insightful observations from past UPSC papers:
In recent UPSC prelims, there has been significant focus on questions concerning India's trade with the world, including bilateral and multilateral trade agreements, export-import trends, and the impact of global economic developments on India's trade dynamics.
Note: For answer key and explanation of daily practice questions, join us at: t.me/tinkerchild
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