The Ministry of Youth Affairs and Sports has announced the recipients of the National Sports Awards 2024.

Shooter Manu Bhaker, chess prodigy D Gukesh, hockey star Harmanpreet Singh, and para-athlete Praveen Kumar will be honored with the prestigious Major Dhyan Chand Khel Ratna Award.

The awards, celebrating exceptional contributions to Indian sports, will be presented by the President of India on January 17, 2025, at Rashtrapati Bhavan in a ceremony starting at 11 a.m.

Arjuna Awards for Outstanding Performance in Sports and Games 2024

Ms. Jyothi Yarraji, Ms. Annu Rani, Ms. Nitu, Ms. Saweety, Ms. Vantika Agrawal, Ms. Salima Tete, Shri Abhishek, Shri Sanjay, Shri Jarmanpreet Singh, Shri Sukhjeet Singh, Shri Rakesh Kumar, Ms. Preeti Pal, Ms. Jeevanji Deepthi, Shri Ajeet Singh, Shri Sachin Sarjerao Khilari, Shri Dharambir, Shri Pranav Soorma, Shri H Hokato Sema, Ms. Simran, Shri Navdeep, 
Shri Nitesh Kumar, Ms. Thulasimathi Murugesan, Ms. Nithya Sre Sumathy Sivan,Ms. Manisha Ramadass, Shri Kapil Parmar, Ms. Mona Agarwal, Ms. Rubina Francis, Shri Swapnil Suresh Kusale, Shri Sarabjot Singh, , Shri Abhay Singh, Shri Sajan Prakash, Shri Aman.

Arjuna Awards (Lifetime) for Outstanding Performance in Sports and Games 2024

Shri Sucha Singh, Shri Murlikant Rajaram Petkar, 

Dronacharya Award for Outstanding Coaches in Sports and Games 2024

Regular Category
Shri Subhash Rana - Para-Shooting
Ms. Deepali Deshpande - Shooting
Shri Sandeep Sangwan - Hockey

Lifetime Category

Shri S Muralidharan - Badminton
Shri Armando Agnelo Colaco - Football

Rashtriya Khel Protsahan Puraskar 2024
Physical Education Foundation of India

Air Marshal Jeetendra Mishra on Wednesday took charge as the chief of Indian Air Force's Western Air Command that looks after the security of the air space in the sensitive Ladakh sector as well as some other parts of north India.

• Air Marshal Mishra, a fighter combat leader and an experimental test pilot, has more than 3000 hours of flying experience, according to the IAF.
• He succeeds Air Marshal Pankaj Mohan Sinha, who superannuated after putting in more than 39 years of distinguished service.
• Air Marshal Mishra was commissioned into the Indian Air Force (IAF) as a fighter pilot on December 6, 1986.

Air Marshal Jeetendra Mishra assumed the role of commanding the Indian Air Force's (IAF) Western Air Command on Wednesday(01 January 2025), a vital position that oversees the defence of India's western borders.

• Air Marshal Mishra was commissioned into the Indian Air Force as a fighter pilot in December 1986 and has accumulated more than 3000 flying hours throughout his career.
• A graduate of the National Defence Academy in Pune, Mishra has also attended several esteemed institutions, including the Air Force Test Pilots School in Bangalore, the Air Command and Staff College in the USA, and the Royal College of Defence Studies in the UK.
• Air Marshal Mishra is a Fighter Combat Leader and an experimental Test Pilot.

Thee Indian Navy is set to commission three cutting-edge combat platforms - INS Nilgiri, the lead ship of the Project 17A stealth frigate class; INS Surat, the fourth and final destroyer of the Project 15B stealth class; and INS Vagsheer, the sixth and last Scorpene-class submarine.

• The selected date for commissioning these platform is January 15, 2025.
• The commissioning ceremony will take place at the Naval Dockyard in Mumbai.  
• This landmark event is a testament to India’s growing self-reliance in defense production, with all three platforms designed and built at Mazagon Dock Shipbuilders Limited (MDL), Mumbai.
• The commissioning highlights India’s status as a global leader in indigenous shipbuilding and defense manufacturing.  

A panel comprising representatives of the Reserve Bank, centre and state governments as well as academia has been constituted to revise the base year of national accounts or GDP from 2011-12 to 2022-23, Parliament was informed on Monday (November 2, 2024).

• Advisory Committee on National Accounts Statistics (ACNAS) comprising representatives from the Central and State Governments, Reserve Bank India, Academia and Researchers has been constituted for the identification of new data sources and to advise on the methodology for compilation of National Accounts Statistics in the revised series.
• Steps such as the constitution of ACNAS, standardization of data structure to promote harmonised quality reporting across the National Statistical System and use of administrative data are the steps taken by the government to improve the statistical system, he stated.
• The 26-member ACNAS, which was constituted under the Chairmanship of Biswanath Goldar, is expected to complete the exercise by early 2026.
• The Gross Domestic Product (GDP) data based on the 2011-12 series was released in January 2015.

What is Base Year?          

Base year is a benchmark used for GDP calculation. It allows for comparison  of economic growth over a period of time by eliminating the effects of inflation.

The Union government announced the constitution of a working group to revise the base year for the Wholesale Price Index (WPI) from the existing 2011-12 to 2022-23.

• The 18-member working group, chaired by Prof. Ramesh Chand, member, NITI Aayog, comprises representatives from various government departments, economic advisory bodies, and non-official experts, according to an official release.
• Renowned economist Surjit Bhalla, Shamika Ravi, member, Economic Advisory Council to PM, and Crisil's chief economist Dharmakirti Joshi are among the non-official members included in the group.
• It has been tasked with revising the commodity basket of WPI and Producer Price Index (PPI) in light of structural changes in the economy and recommending improvements in the price collection system, computational methodologies, and the transition from WPI to PPI.

Official data revealed that India’s Goods and Services Tax (GST) collections rose 7.3% year-on-year to INR 1.77 lakh crore in December, slowing from the 8.5% growth in November.

• Tax experts said the deceleration was attributed to a post-festive consumption dip and a sharp refund rise.
• Gross domestic GST collections grew 8.4% to INR 1.32 lakh crore, but cess collections saw a marginal decline, settling at INR 12,003 crore.
• Refunds surged to INR 22,490 crore in December, marking a significant 45.3% year-on-year increase.
• After accounting for these refunds, net GST collections stood at INR 1.54 lakh crore, representing a modest 3.3% increase.

The Union Ministry of Commerce and Industry has amended the Foreign Trade Policy (FTP) 2023 to strengthen stakeholder engagement in policy formulation.

• The Directorate General of Foreign Trade (DGFT) notified the addition of Para 1.07A and 1.07B, mandating consultations with stakeholders, including importers, exporters, and industry experts, before introducing or amending trade policies.
• This amendment aims to formalise the mechanism for gathering views, suggestions, and feedback from relevant parties, enhancing transparency and inclusiveness in the decision-making process.
• Additionally, it requires the government to provide reasons for not incorporating any suggestions, ensuring accountability in policy making.

Union Home Minister and Minister of Cooperation Shri Amit Shah inaugurated the newly constructed working women’s hostel, Sushma Bhawan, developed by the New Delhi Municipal Council (NDMC).

• The event, held at Moti Bagh, also featured the virtual inauguration of a state-of-the-art Veterinary Hospital.
• Distinguished guests, including Delhi Lieutenant Governor Shri V.K. Saxena and MP Ms. Bansuri Swaraj, graced the occasion.
• Sushma Bhawan provides safe and modern accommodation for approximately 500 working women.
• Named after late Smt. Sushma Swaraj, the hostel honors her legacy as a leader who championed women’s empowerment and inspired generations through her dedication and efficiency in public service.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), one of the country’s oldest business chambers, has appointed Manish Singhal as its new Secretary General.

• Singhal brings over 35 years of experience in both corporate India and chambers of commerce, having previously served as the Deputy Secretary General of the Federation of Indian Chambers of Commerce and Industry (FICCI), as per the press release. 
• His extensive career includes stints with major Indian transnational companies such as Tata Motors, Eicher (Volvo), Tata Auto Comp Systems, Moser Baer India, and BEML.
• Singhal succeeds Deepak Sood, who led Assocham for the last five years, steering the chamber to success and establishing a solid financial foundation.
• Sood has stepped down to pursue other interests, leaving behind a legacy of rebuilding and revitalizing the organization.

The Government has launched the “One Nation, One Subscription” scheme starting today ( 01 January 2025).

• This initiative aims to provide seamless access to a wide range of digital knowledge resources, including research papers, journals, and academic content, under a single subscription platform.
• The scheme is expected to benefit students, researchers, and institutions across the country by eliminating multiple subscription barriers and ensuring equitable access to knowledge.
• Over 1.8 crore students from Government funded higher education institutions, including universities and IITs, will have access to research papers, published in top journals across the world.
• More than, 13 thousand 400 international journals covering science, technology, engineering, medicine, mathematics, management, social sciences and humanities are being made available to researchers under the first phase of the initiative.

Republican Rep. Mike Johnson of Louisiana won reelection as speaker of the House, emerging victorious after a pair of GOP members switched their votes to deliver him a majority and open the 119th Congress.

• Johnson needed 218 votes to secure the gavel, and at first appeared to fall two votes short.
• He huddled with allies and conservative members for about an hour as he seemed headed for defeat. 
• A dramatic scene played out when two of the holdouts - Reps. Keith Self and Ralph Norman - eventually approached the dais and switched their votes, putting Johnson over the top. Rep.
• Thomas Massie of Kentucky was the only remaining Republican defector.

Maldives Foreign Minister Abdulla Khaleel arrives in India for first official visit to India. The visit follows the recent State Visit of the President of the Republic of Maldives, H. E. Dr. Mohamed Muizzu, to India in October 2024.

• This is his first official visit to India.
• On 03 January 2025, External Affairs Minister Dr. S. Jaishankar and Foreign Minister Dr. Khaleel held bilateral discussions.
• EAM Dr. S. Jaishankar reaffirmed the importance India attaches to its bilateral ties with Maldives and assured continued support to Maldives, under India's 'Neighbourhood First' policy and Vision SAGAR, i.e., Security and Growth for All in the Region.
• Foreign Minister Dr. Khaleel, on his part, appreciated the timely emergency financial assistance extended by India to Maldives in times of need, reflecting India's role as the "First Responder" of Maldives.
• Dr. Khaleel reaffirmed President Dr. Muizzu’s and the Government of Maldives’ firm commitment to work closely with the Government of India in realizing the Joint Vision for India-Maldives Comprehensive Economic and Maritime Security Partnership.
• During the visit, both sides signed a Memorandum of Understanding for implementation of High Impact Community Development Projects under Phase-III in Maldives, through grant assistance by the Government of India.

The Centre has successfully completed a 9.214 km-long border fencing project at Moreh, a key trade hub along the India-Myanmar border in Manipur.

• This initiative aims to bolster security and curb illegal cross-border activities, as detailed in the Ministry of Home Affairs (MHA) Annual Report for 2023-2024.
• According to the MHA report, construction of a road parallel to the completed fence is currently in progress.
• Additionally, two pilot projects featuring a hybrid surveillance system, each covering 1 km in Arunachal Pradesh and Manipur, have been awarded to Assam Rifles, with work underway.
• In February 2024, the Border Roads Organisation (BRO) was assigned the construction of a 20.862 km fence and road, and this project is also in progress.

 A Swiss prohibition on facial coverings in public spaces widely known as the “burqa ban” took effect on Wednesday (January 1). Anyone who unlawfully flouts the prohibition faces a fine of up to 1,000 Swiss francs ($1,144).

Why did Switzerland ban face coverings?

In 2021, Swiss people narrowly voted in favour of banning face coverings in public, including the burka and niqab worn by Muslim women. Results showed the measure had passed by 51.2% to 48.8% in a referendum.

People in Switzerland are given a direct say in their own affairs under the country’s system of democracy. They are regularly asked to vote in referendums on various national or regional issues.

The proposal to ban face coverings was brought by the right-wing Swiss People’s Party (SVP) and campaigned with slogans such as “Stop extremism”.

Faiz Ahmed Kidwai, a 1996-batch Indian Administrative Service (IAS) officer was appointed on Friday(03 January 2025) as the director general of the Directorate General of Civil Aviation (DGCA).

• Kidwai, who is presently serving as additional secretary in the Department of Agriculture and Farmers Welfare, was appointed by the Appointments Committee of the Cabinet (ACC).
• He is a Madhya Pradesh cadre officer.
• Vikram Dev Dutt, a 1993-batch IAS officer who previously served as DG of the aviation regulator from February 28, 2023, stepped down on October 20, 2024 after his appointment as the coal secretary.

National Award-winning actress Anjana Rahman has passed away at the age of 60 at 1:10 am on Saturday ( 04-01-2025).

• The news of her demise has sent shockwaves and condolences are being poured in from friends, family, and fraternity members.
• The actress was undergoing treatment at Bangabandhu Sheikh Mujib Medical University (BSMMU) Hospital.
• She had been sick for three weeks.
• The Film Artistes’ Association president Misha Sawdagor has confirmed the news of Anajana’s passing away to Prothom Alo. He said that in her honor, Anjana’s Namaz-e-janaza would be held at FDC on Saturday afternoon.
• The actress had done around 300 movies in her career.

Celebrated Odia poet Prativa Satpathy will receive the prestigious Gangadhar National Award for Poetry 2023, conferred by Sambalpur University on its 58th foundation day.

• Known for her impactful works since the 1960s, her poetry transcends linguistic barriers, capturing audiences worldwide.
• The award includes a citation, shawl, and a Rs 1,00,000 cash prize.
• The award will be presented during the university's 58th foundation day event on January 5.
• Prativa Satpathy, who rose to prominence in the 1960s with her acclaimed work 'Sesha Janha', has gained recognition not only in India but also internationally, as her poetic expressions in Odia have been translated into multiple languages.

About Gangadhar National Award 

The Gangadhar National Award, named after the illustrious Odisha poet Gangadhar Meher and established in 1989, includes a citation, a traditional shawl, and a cash prize of Rs 1,00,000. Previous recipients have been distinguished figures in the poetry sphere such as Gulzar, K Sachidanandan, and Jayanta Mohapatra.

Renowned botanist K S Manilal, who revived the Latin book 'Hortus Malabaricus', a landmark 17th-century botanical compendium about the medicinal plants of Kerala, by translating it into English and Malayalam, passed away in Thrissur on Wednesday( 1 January 2025). He was 86.

• Manilal also served as the Head of the Department of Botany at Calicut University.
• He spent 35 years researching, translating, and annotating 'Hortus Malabaricus', the 12-volume compendium published by Hendrik van Rheede, the then Dutch Governor of Cochin.
• His passion for science is evident from the efforts he undertook to translate the Latin book into English (2003) and Malayalam (2008), thereby making the vast collection of information accessible to the next generation of science enthusiasts.
• His leadership in studying and documenting the flora and fauna of the Silent Valley forests was also commendable.
• Born to A Subrahmanian and K K Devaki in Paravur, Ernakulam district, Manilal graduated from Maharaja's College, Ernakulam.
• He earned his PhD at Sagar University in Madhya Pradesh in 1964.

Bhuvnesh Kumar, additional secretary in the ministry of electronics and information technology (MeitY) in charge of cyber laws and matters related to UIDAI, has been appointed as the chief executive officer of the Unique Identification Authority of India (UIDAI), the ministry announced on Wednesday ( 1 January 2025).

• He will continue to hold both positions.
• Kumar succeeds Amit Agrawal who was appointed the secretary of department of pharmaceuticals in December.
• Bhuvnesh Kumar is an IAS officer from the 1995 batch of Uttar Pradesh cadre. He is a graduate of National Institute of Technology, Kurukshetra.

Retirement fund body EPFO has completed the Centralized Pension Payments System (CPPS) rollout in all its regional offices across the country that will benefit over 68 lakh pensioners, the labour ministry said recently.

The CPPS is a paradigm shift from the existing pension disbursement system that is decentralised, with each zonal/regional office of EPFO maintaining separate agreements with only 3-4 banks, the ministry explained in a statement.

Under CPPS, a beneficiary will be able to withdraw pension from any bank and there will be no need for to visit the bank for verification at the time of commencement of pension, and the amount will be immediately credited upon release, it stated.

The CPPS system January 2025 onwards will also ensure disbursement of pension throughout India without any need for transfer of pension payment orders (PPO) from one office to another even when the pensioner moves from one location to another or changes his bank or branch.

Employment in the country has increased by 36 per cent, from 47.15 crore in 2014-15 to 64.33 crore in 2023-24, reflecting improved job creation during NDA’s tenure in comparison to the UPA era, Union Labour Minister Mansukh Mandaviya said .

Trends in the last two decades also highlighted that the job growth was 7 percent, from 44.23 per cent in 2003-04 to 47.15 percent in 2013-14, during Congress-led UPA regime, Mandaviya told reporters. In the last one year, the Central government has created around 4.6 crore jobs in the country, data shared by Ministry of Labour showed.

• Employment in agriculture sector declined by 16 per cent between 2004 to 2014 under UPA government. On the contrary, it grew by 19 per cent between 2014 -2023 under Modi government, the Ministry pointed out.
• Similarly, manufacturing sector grew by 15 per cent between 2014 to 2023 while it was just 6 percent between 2004 to 2014 under UPA regime.
• Services sector saw the maximum employment growth at 36 per cent between 2014 to 2023, which is 11 per cent more than in the previous decade, said the Ministry.

According to a report released by SBI Research on January 3, India’s rural poverty ratio has seen a remarkable decline, dropping to 4.86 per cent in the financial year 2023-24 from 25.7 per cent in 2011-12.

• Meanwhile, urban poverty has also decreased, falling to 4.09% from 4.6% during the same period.
• The report stated, “At an aggregate level, we estimate that poverty rates in India are now likely to be between 4 per cent and 4.5 per cent, with extreme poverty nearly eliminated.”
• The report notes that these figures may undergo slight revisions once the 2021 census is finalised and the updated Rural-Urban population distribution is released. It suggests that urban poverty could potentially decrease further as a result .

NASA has unveiled the successor of its highly successful Ingenuity helicopter that roamed over the surface of Mars for over three years after landing there alongside the Perseverance Rover in 2020. 

• The hlicopter is produced in collaboration between the Jet Propulsion Laboratory (JPL) in Southern California and the Ames Research Center.
• It is a drone-like vehicle that is about the size of an SUV with six rotors.
• Notably, each rotor has six blades, which are smaller than those on Ingenuity but theoretically, could provide even more lift.
• NASA Unveils New Mars Drone Design: A Larger, Enhanced Version Of Ingenuity HelicopterThe "Mars Chopper" as NASA is calling it, appears bulkier compared to its predecessor and has a greater payload capacity.

Chief Minister Mohan Charan Majhi declared the unseasonal rains in December as a natural calamity to facilitate payment of compensation to the affected farmers from the State Disaster Response Fund (SDRF).

Announcing the decision at the inaugural ceremony of the Krushi Odisha conclave here, the chief minister said farmers who have suffered crop loss of more than 33 per cent will be eligible for the ex gratia payment.

The state government will provide Rs 291.95 crore from SDRF as input subsidy to the farmers for damage to crops through DBT mode.

The move assumes significance as the state government has announced that all farmers who have suffered crop loss due to the rains will be compensated, irrespective of insurance coverage.

Unseasonal rains was not listed as a calamity in the Relief Code making it difficult for the government to provide compensation to farmers who don’t have insurance cover.

In a first, the Chhattisgarh state has introduced an innovative plan that connects the ecosystem services of its forests with the Green Gross Domestic Product (Green GDP).

• The moves aimed to highlight the direct link between significant environmental contributions of forests like clean air, water conservation, biodiversity and the state’s economic progress.
• The action plan is designed to ensure that economic development is achieved while preserving the pristine environment for future generations.
• The new approach assesses the often overlooked benefits that forests provide, such as regulating the climate, enriching soil quality, purifying water, absorbing carbon dioxide among others.
• These services will now be formally included in the state's economic planning.

The Gujarat government is set to conduct the country’s first-ever census of coastal and wader birds at the Marine National Park and Sanctuary in Jamnagar from January 3 to 5, the state government said in a statement on Thursday ( January 3, 2025).

The census will be jointly organised by the state forest department and the Bird Conservation Society of Gujarat.

The three-day programme, which is expected to attract bird enthusiasts, experts, and researchers from Gujarat and across the country, will also feature expert talks on forestry and wildlife on the first day, bird counting activities on the second day, and knowledge-sharing sessions on the third day.

The Marine National Park and Marine Sanctuary

The Marine National Park and Marine Sanctuary in Gujarat is India’s first designated marine national park. Spanning the districts of Devbhoomi Dwarka, Jamnagar, and Morbi, it covers approximately 170 km of coastline and 42 islands between Okha and Navlakhi.

This protected area in the Gulf of Kutch was established to conserve marine biodiversity and mangrove ecosystems.

The Uttarakhand forest department has developed an ethnobotanical garden at Haldwani over one acre of land to showcase ecological and environmental knowledge in Mahabharata and grown 37 plant species mentioned in the epic.

Chief conservator of forests Sanjeev Chaturvedi said the "Mahabharata Vatika" has plant species mentioned in 18 sections of the Mahabharata.

• He added the plants include Khair (Acacia catechu), Kovidar (Bauhinia variegata), Bargad (Ficus benghalensis), Peepal (Ficus religiosa), Dhak (Butea monosperma), Harsringar (Nyctanthes arbortristis), Baheda (Terminalia bellirica), Aam (Mangifera indica), Kala Sirs (Albizia lebbeck).
• He referred to the Sanskrit names of the 37 species mentioned in the epic, their scientific names, and the number of shlokas (hymns) in which a particular plant species has been mentioned.
• Mahabharata, whose authorship is ascribed to the sage Vyasa, has 100,000 shlokas and 18 sections

Union Home Minister Amit Shah chaired the 7th meeting of the Islands Development Agency (IDA) in New Delhi.

The meeting was attended by Andaman and Nicobar Lieutenant Governor Devendra Kumar Joshi, Lakshadweep Administrator Praful Patel, Union Home Secretary Govind Mohan and other senior officials.

Key Points

• The IDA set up in 2017 under the aegis of the Ministry of Home Affairs, focuses on the holistic development of Islands in the country.
• It is constituted to look into the holistic development of islands.
• The Home Minister of India is the Chairman of the Island Development Agency and the CEO of NITI Aayog acts as the convener of IDA.
• Other members of IDA include Secretary- Tourism, Tribal affairs, Home secretary, Secretary Ministry of Environment and Cabinet secretary.
• National Institution for Transforming India – NITI Aayog has been mandated with the task to steer the holistic development of the islands in a sustainable manner.

The Central Government has approved a project worth 272 crore rupees for Chandauli and Manikpur in Uttar Pradesh under the National Mission for Clean Ganga.

 The 59th Executive Committee meeting of the National Mission for Clean Ganga (NMCG), chaired by Director-General, NMCG Rajeev Kumar Mital yesterday approved several projects dedicated to the conservation and rejuvenation of the Ganga River.

 These initiatives are aimed at promoting the cleanliness, sustainable development, and preservation of the environmental and cultural significance of the river.

The committee has also approved an ambitious  river conservation in Buxar, Bihar at a cost of 257 crore rupees.

Context: Recently, the Reserve Bank of India (RBI) released its Financial Stability Report (FSR), December 2024 highlighting several critical aspects of the Indian and global financial landscapes.

• It is a half-yearly publication, with contributions from all financial sector regulators.

• It presents the collective assessment of the Financial Stability and Development Council subcommittee on current and emerging risks to the stability of the Indian financial system.

Key highlights

• Resilient Indian Economy: Gross domestic product (GDP) is projected to grow at 6.6 % in 2024-25, aided by a revival in rural consumption, Government spending, & services exports. 

• Government Finance: Central government's debt-to-GDP ratio is expected to decrease from its pandemic peak of 62.7% (2020-21) to 56.8% by 2024-25. 

• States' outstanding liabilities are projected to decline from 31% to 28.8% during same period.

• Stress Tests and Resilience: Macro stress tests conducted by the RBI demonstrate that most SCBs have sufficient capital buffers to withstand adverse scenarios.

• The resilience of mutual funds, clearing corporations, and non-banking financial companies (NBFCs) is also validated through these tests.

• Stable Financial System: The soundness of scheduled commercial banks (SCBs) has been bolstered by strong profitability, declining non-performing assets & adequate capital and liquidity buffers.

• Economic Growth Projections: The report projects that the Indian economy will expand by 6.6% in FY25 (2024-25), driven by a revival in rural consumption, increased government spending, and strong services exports. 

• Rising Non-Performing Assets (NPAs): The report indicates a potential rise in the share of bad loans among commercial banks.

• Under baseline stress scenarios, the Gross Non-performing Asset (GNPA) ratio could increase from 2.6% in September 2024 to 3% by March 2026. 

• Domestic Financial Stability: Despite global uncertainties, the Indian financial system remains robust.

• The soundness of Scheduled Commercial Banks (SCBs) is supported by strong profitability, and adequate capital and liquidity buffers.

• The return on assets (RoA) and return on equity (RoE) for banks are at decadal highs.

• Sectoral Insights: The FSR highlights concerns in specific sectors, such as microfinance and consumer credit, which require close monitoring. 

• Insurance Sector: It maintains a robust solvency ratio, indicating its stability.

Key Concerns highlighted in the report

• High Public Debt: Although the Union government’s debt-to-GDP ratio is expected to decrease from its pandemic peak, it remains a concern for long-term fiscal sustainability.

• Global Economic Vulnerabilities: These include stretched asset valuations, high public debt, prolonged geopolitical conflicts, and emerging technological risks.

• These factors pose medium-term risks to global financial stability.

• Geopolitical Conflicts: Prolonged geopolitical conflicts can disrupt global supply chains, affect commodity prices, and lead to financial market volatility, all of which can have adverse effects on the Indian economy.

• Emerging Technological Risks: Cybersecurity threats, data privacy issues, and the potential for technological disruptions in financial services are highlighted as areas requiring close monitoring and robust regulatory frameworks.

• Climate Change: Extreme weather events and the transition to a low-carbon economy could have significant implications for financial institutions and the broader economy.

About Financial Stability and Development Council (FSDC)

• Genesis: It is Non-statutory body set up by the Government as the apex-level forum in 2010.

• Chairmen: Union Finance Minister.

• Members: Heads of financial sector Regulators (RBI, SEBI, PFRDA, IRDA & FMC), Finance Secretary, etc. In 2018, FSDC was reconstituted to include more members.

• Functions: The Council deals, inter-alia, with issues relating to financial stability, financial sector development, and inter–regulatory coordination, Strengthens mechanisms for dealing with financial crises etc.

Context: The Global Trade Research Initiative (GTRI) said as India is preparing for its inclusion in the B-READY framework, its focus should be on leveraging global insights while championing local reforms.

India Specific Observations of think tank Global Trade Research Initiative (GTRI) 

• India may face challenges in achieving good scores on parameters like business entry, labour regulations, and international trade in the World Bank's Business Ready report, according to think tank GTRI.

• The Global Trade Research Initiative (GTRI) said as India is preparing for its inclusion in the B-READY framework, its focus should be on leveraging global insights while championing local reforms.

• India did not participate in the 2024 B-READY Report. However, there are some India-specific observations by the think tank GTRI. 

• Moderate Score in Business Entry: India’s business registration system is time-consuming and lacks complete digital integration.  

• Countries like Singapore achieve one-day online registration with minimal costs, setting a global benchmark. 

• Challenges in Labor Regulations: Despite introducing four labor codes, India faces slow and uneven implementation across states, affecting labor market flexibility and compliance ease. 

• Trade Inefficiencies: India’s customs processes are marred by delays, inconsistent enforcement, and high logistics costs, unlike Germany and Singapore, which excel in trade facilitation.  India, however, struggles with customs delays, inconsistent enforcement, and high logistics costs, which hinder trade efficiency.

• Low Score in Business Location: Regulatory inconsistencies and approval delays hinder the establishment of business facilities, affecting investment decisions.  India struggles with delays and inconsistent regulations and due to this India may achieve a low score.

• Positive Aspects: India is expected to perform well in the three core pillars of B-READY, highlighting strengths in operational and regulatory areas. These three key parameters are Quality of Regulations, Effectiveness of Public Services, and Operational Efficiency.

About Business Ready (B-READY) 

• It is the World Bank's new flagship report benchmarking the business environment and investment climate in most economies worldwide.

• The report assesses the regulatory framework and public services directed at firms, and the efficiency with which regulatory framework and public services are combined in practice.

• It is replacing the World Bank Group's earlier Doing Business index. In 2020, the World Bank decided to pause the publication of its Doing Business report following a number of irregularities regarding changes to data in previous reports.

• Pillars of B-READY: For each topic, B-READY considers three pillars. 

• Pillar I: Regulatory Framework – Focuses on the rules and regulations firms must follow during their life cycle, highlighting those that support clarity, fairness, and business sustainability, and those that hinder entrepreneurship. 

• Pillar II: Public Services – Covers government-provided services and infrastructure that support regulatory compliance and business activities, with an emphasis on digitalization, interoperability, and transparency. 

• Pillar III: Operational Efficiency – Measures how easily firms can comply with regulations and utilize public services relevant to their operations.  

• Indicators: B-READY analyzes 1,200 indicators to identify policy reform opportunities, using data from primary sources to highlight key aspects of each topic. 

• Three Themes: B-READY assesses three key themes across 10 topics. 

1. Digital Adoption: Evaluates digital integration by governments and businesses in the business environment. 

2. Environmental Sustainability: Analyzes regulatory provisions affecting business operations with a focus on sustainability. 

3. Gender: Examines the collection of gender-disaggregated data and the implementation of gender-sensitive regulations and programs. 

• Scoring: B-READY generates two sets of scores for each economy. 

1. Topic Scores: Averaged from scores across the three pillars, based on indicators that reflect firm flexibility and social benefits. 

2. Pillar Scores: Averaged from scores across 10 topics, standardised to range from 0 to 100. 

• Data Collection: B-READY collects data through expert questionnaires for regulatory and public service aspects, and through World Bank Enterprise Surveys for operational efficiency, with updates to expert data annually and firm-level data every three years. 

• Global Expansion: Covers 50 economies in 2024, with plans to reach 180 by 2026. 

• Focus on Reform: B-READY shifts focus to inclusivity, sustainability, and efficiency in evaluating business environments. 

Context: India will host the 'World Audio-Visual Entertainment Summit – Waves' for the first time in 2025, which will be an important step towards making the country a global content creation hub.

• The prime minister emphasized the pivotal role of young creators in the preparations for WAVES, reflecting the dynamic spirit of India's creative community.

• He expressed pride in the enthusiasm of the country's youth and their contribution to the burgeoning creator economy, a key driver as India advances toward becoming a five trillion dollar economy.

About the Summit

• What it is: A global platform fostering dialogue, trade collaboration, and innovation in the media and entertainment industry.

• Established in: To be held for the first time in 2025.

• Aim: To position India as a global powerhouse in media and entertainment (M&E), promoting innovation, investment, and skill development.

• WAVES would be the first-ever global summit covering the entire gamut of Media and Entertainment industry.

• The event will bring together industry leaders, stakeholders, and innovators to discuss prospects, challenges, promote trade to India, and influence the sector’s future.

• The Summit will also highlight India’s advancements in animation, gaming, entertainment technology and regional and mainstream cinema.

• Vision is to position India as an unparalleled global powerhouse in the dynamic Media & Entertainment landscape while setting new standards of creativity, innovation, and influence worldwide.

• Mission: Empowering global Media & Entertainment leaders with exclusive investment opportunities through the premiere platform of WAVES.

• Objectives is to Position WAVES as a platform to provoke ideas, fuel conversations, facilitate knowledge exchange and engage in meaningful collaborations with M&E industry leaders from across the globe and To drive the country’s Creative Economy through IP Creation for India & for the World.

Key Focus Areas:

• Content Production and Innovation.

• Animation, VFX, and Gaming.

• Music and Intellectual Property (IP) Creation.

Context: Recently, the Karnataka High Court directed the Registrar of Births and Deaths to issue modified certificates for transgender individuals who have undergone gender reassignment.

• These updated certificates must include both their previous and revised names and genders. The directive will remain in effect until necessary changes are made to the Registration of Births and Deaths Act, 1969, which currently does not permit alterations to gender on original birth or death certificates.

• This ruling came in response to a petition filed by a 34-year-old transgender woman who underwent gender reassignment surgery and sought to update her birth certificate to reflect her new name and gender. 

• The Mangaluru City Corporation’s Registrar of Births and Deaths had previously denied her request, citing the absence of provisions in the 1969 Act for such changes.

The Transgender Persons Act, 2019:

• Allows transgender individuals to affirm their gender identity legally (Section 6).

• Under it, post-sex-reassignment surgery, individuals can obtain a revised identity certificate (Section 7).

• It mandates reflecting revised identity and name on all official records, including birth certificates.

• The 2020 Rules clearly list birth certificates as eligible for changes under the Act’s provisions.

The challenges in Legal and Social Recognition of transgenders include:

• Restrictive 1969 Act Provisions which allows changes in birth certificates only for errors, fraud or incorrect entries (Section 15).

• Failure to Harmonize Laws such as the older general laws (1969 Act) and newer specific laws (2019 Act) lack alignment, causing inconsistencies.

• Authorities often miss prescribed timelines for updating records leading to inconsistent Implementation.

• Officials and transgender individuals lack knowledge of rights and procedures and have Limited Awareness.

• Hesitation to align older enactments like the 1969 Act with the 2019 Act.

• Document discrepancies lead to a “dual life,” causing harassment, missed opportunities, and social stigma

A Progressive Step for Transgender Rights

• The Karnataka High Court’s ruling underscores the importance of updating laws to reflect the evolving needs of society, particularly for marginalized communities such as transgender individuals. 

• By instructing the Registrar of Births and Deaths to issue revised certificates, the court is ensuring that transgender persons are recognized and respected in official records. 

• This decision serves as an important precedent, encouraging further reforms to guarantee the rights of transgender individuals and provide them with the legal recognition they deserve.

• As the legal landscape adapts to the provisions of the Transgender Persons (Protection of Rights) Act, 2019, the Karnataka High Court’s directive stands as a beacon of hope for the transgender community, ensuring that their identities are legally acknowledged and validated in official records.

The Road Ahead: Legislative Reforms for Transgender Rights

• This ruling by the Karnataka High Court serves as a significant step forward in recognizing the rights of transgender individuals in India. It highlights the need for legislative reforms to ensure that transgender persons can legally update their official documents in a way that reflects their identity.

• The court’s order provides temporary relief to transgender individuals seeking to correct their birth and death certificates while simultaneously calling for a review and amendment of the Registration of Births and Deaths Act, 1969, to ensure that transgender rights are fully protected under the law.

Context:  Dissent is vital to democracy, including in constitutional courts. While powerful in both India’s Supreme Court and the U.S. Supreme Court, their underlying reasons differ.

Nature of Dissent in the Indian Judiciary

• Dissent in the judiciary is a vital aspect of a democratic society, reflecting the diversity of thought and the independence of the judicial system.

• In India, judicial dissent has played a crucial role in shaping the legal landscape, often highlighting the dynamic interplay between law, politics, and society.

• The right to dissent is a fundamental right and an essential part of democracy in India, protected by Article 19(1) of the Constitution of India.

• It can be traced back to landmark cases such as ADM Jabalpur v. Shivkant Shukla (1976), where Justice H.R. Khanna’s dissenting opinion emphasized the importance of fundamental rights even during a state of emergency.

Types of Dissent

• Political Dissent: Judges often express dissenting opinions on matters involving political implications.

• For instance, in the P.V. Narasimha Rao case (1998), Justices S.C. Agarwal and A.S. Anand dissented on the issue of parliamentary privilege and immunity from prosecution for accepting bribes.

• Social Dissent: Judicial dissent arises from differing views on social issues.

• Cases like Shayara Bano v. Union of India (2017), which dealt with the practice of triple talaq, saw dissenting opinions that reflected varying perspectives on social justice and gender equality.

• Intellectual Dissent: Purely intellectual disagreements among judges often lead to dissenting opinions. These dissents are based on different interpretations of legal principles and doctrines, contributing to the evolution of jurisprudence.

Recent Indian Examples of Dissent

• Sita Soren (2023): Overruled the immunity for bribes under parliamentary privilege dissenting against P.V. Narasimha Rao (1998).

• Hijab Case (2022): Justice Dhulia’s dissent emphasized diversity over secularism in State-run schools.

• Justice B.V. Nagarathna in Lalta Prasad Vaish (2024), the industrial alcohol case said that States could not tax industrial alcohol.

Comparative Perspective

• In the United States, judicial dissents are often influenced by the political inclinations of judges, who are appointed by the President and confirmed by the Senate.

• In contrast, the Indian judiciary, through its collegium system, maintains a degree of insulation from direct political influence, allowing for a broader range of dissenting opinions based on legal and intellectual grounds.

Importance of Dissent

• Safeguarding Democracy: Dissent allows judges to express differing opinions, which is essential for a healthy democracy.

• It ensures that multiple perspectives are considered in judicial decisions, preventing the dominance of a single viewpoint.

• Preventing Majoritarianism and Safeguarding Minority Views: Judiciary can check majoritarian tendencies and ensure that the rule of law prevails over the rule of the majority.

• Dissent ensures that minority views are recorded and considered, preventing the dominance of a single perspective in judicial decision-making.

• Enhancing  Judicial  Accountability: Dissenting opinions hold the majority accountable by providing alternative viewpoints and highlighting potential flaws in the majority’s reasoning.

• Protecting Civil Rights: Judicial dissent is vital in protecting the rights of citizens, especially the marginalized and underrepresented.

• It provides a platform for challenging majority opinions that may overlook or infringe upon individual rights.

• Encouraging Legal Discourse: Dissenting opinions contribute to the evolution of legal principles by fostering debate and discussion.

• They often highlight alternative interpretations of the law, which can influence future judgments and legal reforms.

Concerns and Challenges

• Impact on Legal Precedents: Dissenting opinions, while not legally binding, can influence future legal interpretations and reforms.

• They highlight alternative viewpoints and can lead to significant changes in the law over time.

• Social and Intellectual Disagreements: Judicial dissents in India often arise from differing social and intellectual perspectives.

• For example, in the Shayara Bano case (2017), Justices Khehar and Nazeer dissented from the majority opinion, arguing triple talaq was an integral part of Sunni personal law.

• Public Perception and Trust: Frequent dissenting opinions may affect public perception of the judiciary’s unity and impartiality.

• It can lead to questions about the consistency and reliability of judicial decisions.

Consequences of Political Dissents

• Democratic Strengthening: Upholds judicial independence, ensuring that courts act as a check on executive and legislative powers.

• Catalyst for Reform: Influences constitutional amendments and future legislation by exposing flaws in majority judgments.

• Public Perception: Shapes public understanding of judicial impartiality, but dissent in politically charged cases may raise concerns about bias.

• Judicial Integrity Risks: Political dissents might be perceived as partisan, undermining trust in judicial neutrality.

• Professional Repercussions: Judges expressing dissent in politically sensitive cases may face criticism or isolation within judicial and public domains.

Road Ahead

• Fostering Judicial Independence: Strengthen the judiciary’s autonomy by protecting it from political and executive pressures.

• Encourage Open Discourse: Promote constructive debates within judicial forums to enrich legal reasoning and jurisprudence.

• Training and Awareness: Provide judges with exposure to global judicial practices to balance individual rights with societal needs.

• Institutional Safeguards: Develop mechanisms to shield dissenting judges from external criticism or professional isolation.

• Leveraging Technology: Enhance accessibility of dissenting opinions to educate citizens about alternative legal interpretations.

Conclusion

• Judicial dissent is a cornerstone of a vibrant democracy, allowing alternative perspectives to refine jurisprudence and protect constitutional values. In India, dissents have significantly shaped constitutional interpretation, enhancing public trust in the judiciary.

• The nature of dissent in the Indian judiciary reflects the complexity and richness of India’s legal system. It underscores the importance of judicial independence and the role of dissent in fostering a vibrant and dynamic democracy. 

• As India continues to evolve, judicial dissent will remain a cornerstone of its legal and democratic framework, ensuring that diverse voices are heard and respected.

Context: The recent winter session of Parliament was marred by significant disruptions, leading to a significant loss of productive time and a low overall productivity rate.

• The article offers a critical analysis of the current state of India’s parliamentary functioning and its implications for democracy.

Constitutional Provisions

• Article 74: There shall be a Council of Ministers with the Prime Minister at the head to aid and advise the President who shall, in the exercise of his functions, act in accordance with such advice.

• Article 75: Other provisions as to the Minister.

• Article 163: Council of Ministers to aid and advise the Governor.

• Article 164: Other provisions as to Ministers.

Parliament Productivity

• The frequent disruptions and lack of decorum raise concerns about the effectiveness of parliamentary democracy in India.

• Only 4 Bills passed in Lok Sabha and 3 Bills in Rajya Sabha.

• The productivity of Lok Sabha was approximately 54.5%.

• The productivity of Rajya Sabha was approximately 40%.

State of the recent winter session of Parliament

• The winter session was marked by frequent adjournments, minimal discussions, and negligible work accomplished.

• Competitive disruptions by both the Opposition and the Treasury benches made the session a travesty.

• A new low was reached with duelling demonstrations on the steps of Parliament, leading to accusations of assault and injury on both sides.

• The session ended with widespread disillusionment, as many felt the legislature had failed the people of India.

Reasons behind the decline in Parliament’s functioning:

• 1. Precedent of Disruptions

• Disruptions have become normalized as part of Indian parliamentary practice.

• Past Speakers like Somnath Chatterjee were reluctant to enforce strict rules for fear of being labeled undemocratic.

• Expelling unruly MPs was avoided, even by subsequent Speakers like Meira Kumar, who sought all-party consensus before taking such steps.

• 2. Acrimonious Relations Between Government and Opposition

• Historically, a sense of civility existed between government and Opposition, with instances of mutual respect, such as Jawaharlal Nehru’s courtesy towards Atal Bihari Vajpayee.

• Presently, both sides treat each other as enemies rather than adversaries, eroding trust.

• The ruling party now condemns disruption, a tactic it extensively used when in Opposition.

• A “tit-for-tat” mentality pervades, reflecting the golden rule of Indian politics: “Do unto them what they did unto you.”

• 3. Diminished Public Expectations

• Earlier, skilled orators and debaters commanded respect for their parliamentary performances.

• Today, electability depends more on constituent services and local political influence than parliamentary skills.

• MPs are now evaluated based on party loyalty and disruptive tactics rather than reasoned debate.

• 4. Decline of Parliamentary Civility:

• The decline of decorum in Parliament is partly due to precedents set in the past.

• The Speaker’s reluctance to enforce rules and expel unruly MPs has allowed disruptions to become a regular part of parliamentary proceedings.

• 5. Decline of Parliamentary Debate:

• The quality of debate in Parliament has deteriorated.

• MPs now prioritize disruption over meaningful legislative debate. Parliamentary performance is often overshadowed by media appearances and televised confrontations.

Impact

• Legislative Delays: Important bills and policies are postponed or passed without proper discussion.

• Loss of Time: Precious hours are wasted, reducing overall productivity.

• Public Issues Neglected: Key concerns of citizens are not debated effectively.

• Economic Costs: Taxpayer money is wasted on non-productive sessions.

• Weakened Democracy: Reduces meaningful debates and erodes trust in Parliament.

• Delayed Policies: Essential reforms and governance suffer delays.

• Lost Private Members’ Voice: Minimal attention to private members’ bills and resolutions.

• Bad Precedents: Normalizes disruptions, weakening parliamentary decorum.

Road Ahead

• Restore Parliamentary Decorum: All parties must prioritize restoring decorum and constructive dialogue within Parliament.

• Improve Communication: Enhanced communication and dialogue between the government and the Opposition are crucial to address concerns and find common ground.

• Modernize Parliamentary Procedures: Consider modernizing parliamentary procedures to enhance efficiency and address the challenges of the 21st century.

• Focus on Public Interest: Legislators must prioritize the public interest and focus on addressing pressing national issues.

Conclusion

• Parliamentary standards have been declining for generations, with disruptions replacing debates. The legislature’s diminishing importance erodes the democratic process, reducing Parliament to a mere formality. The loss of Parliament as a consultative body could ultimately weaken Indian democracy itself. With ongoing tensions and frequent disruptions, political parties must prioritize effective governance and uphold the dignity of Parliament.

Context: In a significant breakthrough in cancer therapy, researchers from the Indian Institute of Technology-Guwahati (IIT-G) and the Bose Institute, Kolkata have developed a revolutionary injectable hydrogel designed to deliver anti-cancer drugs directly to tumour sites, offering a safer and more effective alternative to traditional chemotherapy and surgery.

About Hydrogel

• Hydrogel is a water-based, three-dimensional polymer network that can absorb and retain fluids. 

• Hydrogels may be classified based on their 

• sources (natural or synthetic hydrogel), 

• polymeric compositions (homo-polymer, co-polymer and multi-polymer hydrogels), 

• physical structure (amorphous, semi-crystalline and crystalline hydrogels), 

• cross-linkers (physical and chemical cross-linked hydrogels)

• Examples : cellulose, chitosan, collagen, alginate, agarose, hyaluronic acid, gelatin, and fibrin

Key Features of the Hydrogel

• The hydrogel acts as a stable reservoir for anti-cancer drugs, releasing the medication in a controlled manner while minimizing damage to healthy cells.

• This localized drug delivery system addresses significant limitations of conventional cancer treatments, such as chemotherapy and surgical interventions, which often harm healthy tissues or may not be feasible for certain tumours.

• Hydrogels are water-based, three-dimensional polymer networks that can absorb and retain fluids. Their unique structure mimics living tissues, making them ideal for biomedical applications.

• The hydrogel developed by the researchers is composed of ultra-short peptides, which are biocompatible and biodegradable.

• These peptides ensure that the hydrogel remains localized at the injection site, avoiding systemic circulation.

• Mechanism of Action: What sets this hydrogel apart is its ability to respond to elevated levels of glutathione (GSH), a molecule typically abundant in tumour cells. When the hydrogel encounters these high GSH levels, it triggers a controlled release of the anti-cancer drug directly into the tumour. This mechanism significantly reduces side effects associated with chemotherapy, which can impact healthy tissues throughout the body.

Benefits Over Traditional Treatments

• Precision Delivery: The hydrogel ensures that the drug is released directly into the tumour, avoiding healthy cells.

• Minimized Side Effects: By targeting only the tumour cells, the hydrogel reduces the systemic side effects commonly seen with chemotherapy, such as nausea, fatigue, and immune suppression.

• Enhanced Drug Uptake: Studies showed that the hydrogel improves drug uptake by cancer cells, inducing cell cycle arrest and promoting programmed cell death (apoptosis), which helps in attacking tumours from multiple fronts.