UPSC Daily Current Affairs: 20th December 2024 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly PDF Download

GS3/Science and Technology

What is a Dark Comet?

Source: The Hindu

Why in News?

NASA scientists are conducting in-depth studies on a newly discovered class of celestial objects referred to as "dark comets." These investigations aim to enhance our understanding of these unique bodies in our Solar System.

• Dark comets lack the glowing tails typical of comets and appear more like asteroids.
• They are generally small, ranging from a few meters to a few hundred meters in width.
• Despite their asteroid-like appearance, they are distinct due to their rapid accelerations.

Additional Details

• Characteristics of Dark Comets:
  • They have less surface area for materials to escape, which prevents the formation of visible tails.
  • Dark comets often spin rapidly and emit gas and dust in various directions, contributing to their low visibility.
  • They follow elongated, elliptical orbits, bringing them close to the Sun before retreating to the far reaches of the Solar System.
• Discovery: The first evidence of dark comets was observed in 2016 when asteroid 2003 RM exhibited unusual orbital deviations.
• Recent studies have confirmed the presence of dark comets, with 14 such objects identified.
• These comets are categorized into two main types:
  • Outer dark comets: Larger, with eccentric orbits.
  • Inner dark comets: Smaller, with nearly circular orbits close to the Sun.

The study of dark comets not only broadens our understanding of these celestial objects but also enhances our knowledge of the dynamics of the Solar System.

GS3/Economy

Market Turmoil Amid US Fed Guidance and Rupee Depreciation

Source: Economic Times

The recent remarks from the U.S. Federal Reserve, indicating a shift from four anticipated rate cuts in 2025 to just two, have led to a significant decline in major stock market indices, which fell by over 1%. In addition, the Indian rupee reached an unprecedented low of 85.13 against the U.S. dollar, largely due to a sell-off initiated by Foreign Portfolio Investors (FPIs).

• The U.S. Federal Reserve's guidance on future rate cuts has unsettled global markets.
• The Indian rupee has depreciated significantly, reaching a record low against the dollar.
• Market reactions include sharp declines in stock indices and a shift toward defensive investments.

Additional Details

• Fed Rate Cut: A Fed rate cut signifies a reduction in the federal funds rate, which is the interest rate at which banks lend to one another overnight. This rate influences various other interest rates in the economy.
• Objectives of Rate Cuts: The Federal Reserve aims to maintain price stability by managing inflation and to promote maximum employment by stimulating economic growth.
• Impact of Rate Cuts: Rate cuts typically lead to a stock market rally, an increase in bond prices, and can result in currency depreciation, making exports more competitive.
• Global Market Reaction: Following the Fed's recent decision to cut rates by 25 basis points to a range of 4.25%-4.5%, U.S. stock indices experienced significant losses, with the Dow Jones dropping 2.5% and the S&P 500 and Nasdaq Composite falling 3% and 3.5%, respectively.
• Indian Market Response: The BSE Sensex fell by 964.15 points (1.2%) and the Nifty declined by 247.15 points (1.02%). The Indian rupee hit an all-time low due to persistent FPI outflows and global sell-offs, pushing it down to 85.07 against the US dollar.
• Future Outlook: The Reserve Bank of India (RBI) may delay significant rate cuts due to global uncertainties, while investor caution continues amid ongoing market volatility.

The current market situation reflects a cautious outlook, with the potential for further intervention by the RBI or shifts in crude oil prices to influence the rupee and stabilize equity markets.

GS3/Environment

Calyptocephallela gayi: The Helmeted Water Toad

Source: The Hindu

The giant frog species, Calyptocephallela gayi commonly known as the Helmeted Water Toad, is facing significant threats in its native habitat of Chile due to climate change and human activities that disrupt its environment.

• Size: One of the largest frog species in the world, reaching lengths over 30 cm (1 foot) and weights up to 1 kg (2.2 lbs).
• Historical Significance: Known as a "living fossil," this species co-existed with dinosaurs.
• Vulnerability: Currently classified as Vulnerable by the IUCN due to habitat loss and environmental threats.

Additional Details

• Physical Appearance: Robust body with a broad head and large mouth; males can reach snout-to-vent lengths of 15.5 cm (6 in), while females can grow up to 32 cm (13 in).
• Habitat: Primarily found in aquatic environments such as lakes, rivers, and ponds.
• Distribution: Native to the lowlands of Chile, typically found at elevations up to 500 m.
• Threats: Facing dangers from climate change, habitat destruction, environmental degradation, and pollution, which have all contributed to their declining population.

The future of Calyptocephallela gayi is uncertain, and conservation efforts are critical to prevent further decline of this remarkable species.

GS2/Polity

Lokayukta Investigation in Karnataka

Source: The Hindu

The Lokayukta in Karnataka has become a focal point due to recent legal developments surrounding an investigation into alleged corruption involving the Chief Minister's family in a land allotment scam.

• The Lokayukta serves as a state-level anti-corruption body responsible for investigating misconduct by public officials.
• Recent legal actions have temporarily halted investigations into significant corruption allegations related to the Chief Minister's family.

Additional Details

• About the Lokayukta: It is a state-level body modeled after the Ombudsman system of Scandinavian countries, aimed at addressing corruption and maladministration.
• Legal Framework: Governed by the Lokpal and Lokayukta Act of 2013, which mandates the establishment of Lokayuktas in states and includes provisions for representation from marginalized groups.
• Selection and Removal: The Lokayukta is typically a former Chief Justice of a High Court or a Supreme Court judge, chosen by a panel that includes the Chief Minister and the Chief Justice of the High Court.
• Current Issue: The Karnataka High Court has stayed the Lokayukta investigation into the MUDA land allotment scam, which involves allegations against the Chief Minister's family regarding a controversial land compensation scheme.

This situation highlights the ongoing challenges in combating corruption at high levels of government and raises important questions about accountability and the effectiveness of investigative bodies.

GS2/Polity

Manipur's Reinstatement of the Protected Area Regime

Source: Indian Express

The Manipur government has announced the re-imposition of the Protected Area Regime (PAR), also known as the Protected Area Permit (PAP), after a lapse of 13 years. This decision has significant implications for foreign nationals seeking to enter sensitive regions of India, particularly in the northeastern states.

• The Protected Area Regime (PAR) includes regulations controlling foreign nationals' entry into strategically sensitive areas in India.
• Reinstatement of PAR aims to enhance national security and address concerns regarding illegal immigration and regional stability.
• Tourism-related relaxations previously allowed in northeastern states have been withdrawn due to security concerns.

Additional Details

• Protected Area Regime (PAR): A regulatory framework established under the Foreigners (Protected Areas) Order, 1958, intended to limit access to foreign nationals in areas deemed sensitive for national security.
• Key Features:
  • Restricted Access: Foreigners need prior government approval to enter Protected Areas.
  • Sensitive Zones: Areas identified based on proximity to international borders, ethnic tensions, insurgency, or political instability.
  • Regions under PAR include entire states like Arunachal Pradesh, Mizoram, Nagaland, and parts of Sikkim; and areas in Himachal Pradesh, Jammu & Kashmir, Rajasthan, and Uttarakhand.
• Foreigners (Protected Areas) Order, 1958: This framework controls foreign movement in sensitive regions, detailing the Inner Line, which delineates boundaries requiring special permits for entry.
• Current Situation: There are ongoing discussions among state officials in Mizoram and Nagaland following the announcement, with concerns over illegal immigration from Myanmar.
• Free Movement Regime (FMR): The government has terminated FMR, which previously allowed border tribes to travel within a 16 km radius without a visa, raising concerns in neighboring regions.

The reimplementation of the Protected Area Regime underscores the complex interplay between national security and regional stability, particularly in northeastern India, which faces unique challenges related to immigration and insurgency.

GS2/International Relations

Crimes Against Humanity and India's Cautious Stance

Source: The Hindu

The United Nations General Assembly (UNGA) recently adopted a resolution to propose a treaty aimed at preventing and punishing crimes against humanity (CAH). This initiative began in 2019 when the International Law Commission presented a draft text to the UNGA's Sixth Committee, addressing significant gaps in international criminal law.

• The proposed treaty seeks to establish a comprehensive legal framework for addressing crimes against humanity globally.
• India, as a non-signatory to the Rome Statute, has expressed reservations about the ICC's jurisdiction and its implications on national sovereignty.

Additional Details

• Lack of a Legal Framework: Crimes against humanity are serious violations of international law, yet they lack a dedicated treaty like the Genocide Convention, leading to enforcement challenges.
• Jurisdictional Challenges: The ICC's jurisdiction is limited to member states, creating a gap where perpetrators from non-member states can evade justice.
• Focus on Individual Accountability: The Rome Statute emphasizes individual responsibility but overlooks state accountability, which is vital for comprehensive justice.
• India's Position: India prefers national jurisdiction and has criticized the ICC for its perceived overreach and the geopolitical influence on its operations.
• Calls for Further Deliberation: India advocates for more discussions on the CAH treaty to avoid duplicating existing frameworks, reflecting its cautious approach towards international legal mechanisms.

In conclusion, while the adoption of the CAH treaty by the UNGA marks a significant step in addressing international crimes, India's reservations highlight the need for a balance between national interests and global justice commitments. Strengthening domestic legal frameworks could enhance India’s credibility and role in the international community.

GS2/Governance

Coconut Oil: An Edible Oil or a Haircare Product

Source: Indian Express

Why in News?

For over 15 years, the classification of coconut oil as either an edible oil or a haircare product under India’s tax regime remained unresolved. On December 18, 2024, the Supreme Court ruled that coconut oil should be classified as an edible oil and taxed at a lower GST rate of 5% instead of 18% for haircare products. The court based its decision on the predominant use of coconut oil as a cooking medium, especially when packaged in small quantities. This ruling resolves a long-standing ambiguity and aligns taxation with the product's primary usage.

• The Supreme Court's ruling clarifies the classification of coconut oil for taxation purposes.
• Coconut oil will be taxed at a 5% GST rate, reflecting its common use in cooking.
• The ruling aligns with previous international norms and legal precedents.

Additional Details

• Taxation Under the CET Act, 1985: Before the introduction of GST, coconut oil was taxed under the Central Excise Tariff Act, 1985 (CET Act). In 2005, it was classified under Section III as “Animal or Vegetable Fats and Oils” with an 8% excise duty, while haircare products carried a 16% excise duty.
• 2009 Circular and Subsequent Developments: In June 2009, a circular classified coconut oil in containers under 200 ml as hair oil, imposing a 16% tax. However, this was withdrawn in October 2015 after tribunal rulings clarified that packaging size does not determine its classification.
• Taxation Under the GST Regime (2017 Onwards): Since the implementation of GST in 2017, coconut oil has been categorized as an edible oil, attracting a 5% tax, while haircare products continue to be taxed at 18%.
• 2018 Split Verdict: In a significant judgment, two justices had differing views, with one emphasizing common market perceptions while the other focused on legal definitions.

The Supreme Court's final verdict emphasizes that the classification of coconut oil should be based on its predominant use rather than packaging size or market perception. It reinforces the need for adherence to legal definitions and international standards in the classification of goods. This ruling marks a crucial step in resolving the long-standing debate over the tax status of coconut oil.

GS3/Economy

Foreign Direct Investment (FDI) in India

Source: PIB

India has recently achieved a significant milestone, with gross Foreign Direct Investment (FDI) inflows surpassing $1 trillion since April 2000, marking a pivotal moment in its economic development.

• FDI refers to investments made by individuals or companies from one country into businesses in another country.
• There are two main types of FDI: Greenfield and Brownfield investments.
• India's FDI governance is regulated by the Foreign Exchange Management Act (FEMA) and administered by the DPIIT.
• The country has specific entry routes for FDI, including the Automatic and Government routes.
• India's top FDI sources include Singapore, Mauritius, and the United States.

Additional Details

• What is Foreign Direct Investment (FDI)?: FDI involves not only the transfer of capital but also the exchange of expertise, technology, and skills, all of which significantly contribute to the economic development of the host country.
• Types of FDI:
  • Greenfield Investment: Involves establishing new facilities from the ground up, allowing for high control and customization.
  • Brownfield Investment: Refers to expanding existing operations through mergers, acquisitions, or joint ventures, making use of already established infrastructure.
• Governance: FDI in India is regulated under the Foreign Exchange Management Act (FEMA), 1999, and is overseen by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry.
• Entry Routes:
  • Automatic Route: Investments that do not require prior governmental approval.
  • Government Route: Investments that necessitate approval from the relevant ministry or department.
• Sectoral Policies on FDI:
  • Sectors under the Automatic Route: Include Agriculture, E-commerce, Biotechnology, and Renewable Energy.
  • Sectors under the Government Route: Include Banking, Broadcasting, Food Retail, and Satellite Operations.
  • Prohibited Sectors: FDI is not allowed in areas such as atomic energy, gambling, lotteries, chit funds, real estate, and the tobacco industry.
• India’s Top FDI Sources (2023-2024): The highest FDI inflows into India have come from Singapore, followed by Mauritius, the United States, the Netherlands, and Japan.
• FDI Trends (2014-2024): Between April 2014 and September 2024, India attracted $709.84 billion in FDI, representing 68.69% of total FDI inflows since 2000. Initiatives like Make in India and the implementation of GST have bolstered investor confidence, contributing to a 26% rise in FDI inflows to $42.1 billion in the first half of the current fiscal year.

This significant achievement underscores India's growing appeal as a global investment destination, reflecting its robust economic policies and favorable business environment.

GS3/Science and Technology

Varmam Therapy Achieves Guinness World Record

Source: Money Control

The National Institute of Siddha (NIS) has recently made headlines by setting a Guinness World Record for administering Varmam therapy to 567 individuals at the same time. This achievement highlights the growing recognition of Siddha medicine and its therapeutic practices.

• Varmam therapy is a traditional healing modality within the Siddha system of medicine.
• This therapy is drugless, non-invasive, and particularly effective for pain management.
• A total of 108 vital energy points, known as Varmam, have been identified in the human body.
• It is recognized for providing rapid relief from musculoskeletal pain, injuries, and neurological disorders.

Additional Details

• Varmam Therapy: This therapy focuses on energy points that help in healing various health conditions, including acute and chronic diseases such as stroke and arthritis.
• Significance of the Achievement: This record serves as a testament to the effectiveness and potential of Siddha medicine in the global health landscape.
• Siddha Medicine: Originating from South India, Siddha medicine is one of the oldest medical systems in India, with literary evidence tracing back to around 10,000 BC, primarily developed by the Siddhars of Tamil Nadu.

This record not only showcases the practice of Varmam therapy but also emphasizes the importance of traditional healing methods in modern medicine. The global recognition of Siddha practices marks a significant step towards integrating ancient wisdom with contemporary healthcare approaches.

GS2/Polity

Joint Parliamentary Committee (JPC) Overview

Source: Indian Express

Why in News?

A Joint Parliamentary Committee (JPC) is being formed to review the Constitution (129th) Amendment Bill, comprising up to 31 Members of Parliament (MPs).

• A JPC functions as an ad-hoc body that acts like a mini-Parliament.
• It is established to conduct detailed scrutiny of specific matters within a set timeframe.
• JPCs consist of members from both Houses of Parliament, including representatives from ruling and opposition parties.
• The formation of a JPC follows the passing of a Motion in one House, which is then agreed upon by the other House.

Additional Details

• Function: The JPC is tasked with examining specific issues, such as the Allocation and Pricing of Telecom Licenses and Spectrum, or investigating irregularities in financial transactions.
• Membership: Members of the JPC are selected by Parliament, and the committee is dissolved once its mandate is fulfilled or its term ends.
• Recommendations: The recommendations made by the JPC are advisory and are not legally binding on the government.

In summary, the establishment of the Joint Parliamentary Committee is significant for ensuring thorough examination and discussion of critical legislative matters, thereby enhancing the democratic process within Parliament.

GS2/International Relations

Eastern Maritime Corridor (EMC)

Source: Economic Times

Why in News?

The recent inauguration of the Chennai-Vladivostok Eastern Maritime route has significantly reduced shipping times and costs, enhancing trade between India and Russia in key sectors such as oil, food, and machinery.

• The Eastern Maritime Corridor (EMC) links South India with Russia's Far East, particularly through the Chennai-Vladivostok sea route.
• This new route decreases cargo transit time by up to 16 days and reduces travel distance by approximately 40%.

Details of the Chennai-Vladivostok Route

• Route Comparison: The traditional Mumbai-to-St. Petersburg route measures 8,675 nautical miles (16,066 km) and typically takes over 40 days. In contrast, the Chennai-Vladivostok route spans only 5,647 nautical miles (10,458 km) and takes around 24 days, resulting in a distance savings of about 5,608 km.
• Key Waterways:The EMC traverses crucial waterways, including the:
  • Sea of Japan
  • East China Sea
  • South China Sea
  • Malacca Straits
  • Andaman Sea
  • Bay of Bengal
• Ports along the route:Significant ports include:
  • Dalian
  • Shanghai
  • Hong Kong
  • Ho Chi Minh City
  • Singapore
  • Kuala Lumpur
  • Bangkok
  • Dhaka
  • Colombo

Other Maritime Corridors for India

• International North-South Transport Corridor (INSTC): This multimodal transit route, measuring 7,200 km, connects the Indian Ocean and Persian Gulf to the Caspian Sea via Iran, extending to Europe through Russia. It includes 13 member countries and offers three routes: Central, Western, and Eastern. In 2024, Russia dispatched two coal-laden trains to India via the INSTC for the first time.
• India-Middle East-Europe Economic Corridor (IMEC): Announced at the G20 Summit in 2023, this project links India, the Middle East, and Europe through rail, road, and maritime connections. It comprises two corridors: the East Corridor (from India to the Arabian Gulf) and the Northern Corridor (from the Gulf to Europe). This initiative features electricity cables, hydrogen pipelines, and high-speed data cables for enhanced regional integration.
• Northern Sea Route (NSR): This maritime route, covering 5,600 km in the Arctic Ocean, connects the Pacific and Atlantic Oceans through the Arctic. It is attracting interest from several nations including India, Russia, and China. The NSR links the Barents and Kara Seas to the Bering Strait, providing transit times that are up to 50% shorter than traditional routes like the Suez Canal. This route has gained importance for India due to the rising imports of Russian crude oil.

The establishment of the Eastern Maritime Corridor is poised to enhance trade efficiency between India and Russia, paving the way for improved economic ties and strategic partnerships in the region.