Context: A recent six-day survey conducted by NGO Aaranyak has shed light on the escalating human-wildlife conflict (HWC) in the Majuli River Island district of Assam.

Background: –

• Wildlife such as rhinos, wild buffaloes, wild boars, elephants, and tigers have increasingly damaged crops and livestock, posing severe risks to the largely agrarian population, nearly 90% of whom depend on agriculture for their livelihoods.

Key takeaways

• Majuli, the world’s largest river island, is situated on the Brahmaputra River in Assam.

Geographical Significance

• Formed by the fluvial action of the Brahmaputra River and its tributaries, Majuli is a dynamic landmass undergoing constant erosion and deposition.
• The island spans an area of ~352 sq. km (as per recent estimates), but continuous riverbank erosion has significantly reduced its size over the years.
• Declared as India’s first island district in 2016.

Cultural and Historical Importance

• Spiritual Hub: Majuli is known as the cradle of Neo-Vaishnavism, founded by Srimanta Sankardeva in the 15th century.
• Satras (Vaishnavite Monasteries): The island is home to several Satras, which serve as cultural and religious centers promoting Assamese traditions, art, and music. Notable ones include: Kamalabari Satra, Auniati Satra, Dakhinpat Satra.
• Traditional Art & Dance: The island is renowned for its mask-making tradition, Sattriya dance, and handloom weaving.
• Biodiversity Hotspot: Majuli hosts migratory birds, indigenous flora, and fauna, making it a vital ecotourism destination.

Source: NorthEast News

Context: Punjab has utilised 100% of the Rs 4,713 crore allocated to it by the Centre under the Agriculture Infrastructure Fund (AIF) scheme.

Background: –

• As of February 28, with 21,740 projects, Punjab is at the No.1 position in the country for the highest number of sanctioned projects, said the state government.

Key takeaways

• The Agriculture Infrastructure Fund (AIF) is a central sector scheme, started in 2020 with an aim to provide medium to long-term financing for agriculture infrastructure projects at the post-harvest stage.
• When the scheme was started, it was meant for post-harvest management and processing at the primary level, but now, integrated processing at the secondary level has also been included. 
• For example, a kinnow farmer could earlier get funds under the scheme for grading, waxing, and packaging of the crop (primary post-harvest processes), but since 2024, can also avail money to make and sell juices, jams, etc. out of his kinnow produce (secondary level).
• However, the secondary level funds are available only to those involved in the primary processing too.
• This scheme offers credit guarantees and interest subvention. Farmers, agripreneurs, primary agriculture cooperative societies, farmers producer organisations, start-ups, state sponsored public-private partnerships, state-agencies can apply for funds under this scheme.
• All loans under this financing facility have interest subvention of 3% per annum up to a loan limit of ?2 crores. This interest subvention is available for a maximum period of 7 years. In case of loans beyond ?2 crores, interest subvention is limited up to ?2 crores.
• Under the AIF, one can take benefits of other state and central subsidies as well. Credit guarantee support is through the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and National Bank for Agriculture and Rural Development (NABSanrakshan) Scheme.

Source: The Hindu

Context: India should not rush into full capital account convertibility at its current per capita income level of about $2,570, Arvind Panagariya, Chairman of the 16th Finance Commission, has said.

Background: –

• Instead, the country should consider this reform only when per capita income reaches $8,000-10,000, he suggested.

Key points

• Capital Account Convertibility (CAC) refers to the freedom to convert local financial assets into foreign financial assets and vice versa at market-determined exchange rates.
• It is part of the Balance of Payments (BoP), which consists of the current account (trade in goods and services) and the capital account (financial transactions).
• Types of Convertibility:
  • Current Account Convertibility: Allows free exchange of currency for trade in goods and services.
  • Capital Account Convertibility: Allows free exchange of currency for financial transactions like investments, loans, and acquisitions.

Importance of Capital Account Convertibility:

• Foreign Investment: CAC attracts foreign investment and capital inflows boosting economic growth.
• Global Integration: It facilitates integration with global financial markets, enabling access to international capital.
• Economic Efficiency: CAC promotes efficient allocation of resources by allowing capital to flow to its most productive uses.

Challenges and Risks of Capital Account Convertibility:

• Volatility: Free capital flows can lead to exchange rate volatility and financial instability, as seen during the Asian Financial Crisis (1997).
• Capital Flight: In times of economic uncertainty, investors may withdraw capital rapidly, leading to currency depreciation and economic instability.
• Monetary Policy Constraints: CAC limits the ability of the central bank to control domestic interest rates and money supply, as it must consider global financial conditions.
• Speculative Attacks: Countries with weak economic fundamentals may face speculative attacks on their currency, leading to crises.

India’s Approach to Capital Account Convertibility:

• Tarapore Committee (1997):
  • The S.S. Tarapore Committee was set up by the Reserve Bank of India (RBI) to recommend a roadmap for CAC in India.
  • The committee suggested a three-phase approach with preconditions like fiscal consolidation, low inflation, and a strong financial system.
• Partial Convertibility:
  • India has adopted a gradual and cautious approach to CAC, allowing partial convertibility with certain restrictions.
  • For example, while FDI and FPI are allowed, there are limits on the amount of capital that can be moved in and out of the country.
• Current Status:
  • India has full current account convertibility but partial capital account convertibility.
  • The Liberalized Remittance Scheme (LRS) allows individuals to remit up to $250,000 per year for permissible transactions.

Source: Hindu Businessline

Context: The Centre approved the upgradation of Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) as the country’s 25th and 26th Navratna companies respectively.

Background: –

• All seven listed Central Public Sector Enterprises (CPSEs) of the Indian Railways now have Navratna status. The Indian Railways have a total 12 CPSEs.

Key Points

• The Government of India classifies Central Public Sector Enterprises (CPSEs) into Maharatna, Navratna, and Miniratna categories to grant them varying degrees of financial and operational autonomy. This classification aims to enhance efficiency, competitiveness, and decision-making powers in India’s public sector enterprises.

Criteria for grant of Maharatna status to CPSEs

• The CPSEs meeting the following criteria are eligible to be considered for grant of Maharatna status.
  • Having Navratna status
  • Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations
  • An average annual turnover of more than Rs. 25,000 crore during the last 3 years
  • An average annual net worth of more than Rs. 15,000 crore during the last 3 years
  • An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years
  • Should have significant global presence/international operations.

Criteria for grant of Navratna status to CPSEs

• Navratnas are the second category of the central government-owned ‘Ratna’ companies, placed between the Maharatnas and the Miniratnas.
• The Department of Public Enterprises (DPE) of the Ministry of Finance picks the CPSEs for Navratna status. Six indicators are considered: (i) ratio of net profit to net worth, (ii) ratio of manpower cost to total cost of production or services, (iii) ratio of profit before depreciation, interest, and tax (PBDIT) to capital employed or return on capital employed, (iv) ratio of profit before interest and taxes (PBIT) to turnover, (v) earning per share, and (vi) inter-sectoral performance of the company.
• The six indicators carry weights from 10 (for earning per share) to 25 (for ratio of net profit to net worth).
• If a CPSE has a composite score of 60 or higher for all six indicators, and has obtained an Excellent or Very Good MOU rating in three of the last five years, it is eligible to be considered for Navratna status.

Criteria for grant of Miniratna status to CPSE 

• Miniratna Category-I status: – The CPSEs which have made profit in the last three years continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.
• Miniratna Category-II status: – The CPSEs which have made profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status.
  • Miniratna CPSEs should have not defaulted in the repayment of loans/interest payment on any loans due to the Government.
  • Miniratna CPSEs shall not depend upon budgetary support or Government guarantees.

Source: Indian Express

Context: Union Minister for Electronics & Information Technology, Railways, and Information & Broadcasting, Shri Ashwini Vaishnaw marked a major milestone in India’s AI journey with the launch of several key initiatives under the IndiaAI Mission during its anniversary celebration. Key among the newly introduced initiatives is AIKosha: IndiaAI Datasets Platform.

Background: –

• The launch of AIKosha signifies a major step in democratizing AI access, enabling research-driven innovation, and strengthening India’s global AI leadership.

Key Points

• AIKosha, launched by India’s Ministry of Electronics and Information Technology (MeitY), is a comprehensive platform designed to streamline access to high-quality, non-personal datasets, AI models, and development tools, thereby fostering AI innovation across the nation.

Key Features of AIKosha:

• Extensive Repository: The platform hosts over 300 datasets and more than 80 AI models from 12 organizations, providing a rich resource for model builders and developers to create India-centric AI solutions. 
• AI Sandbox Capabilities: AIKosha offers integrated development environments equipped with tools and tutorials, enabling users to experiment, develop, and refine AI applications effectively. 
• Secure and Accessible: The platform ensures data security through features like data encryption (both at rest and in motion), secure APIs, and firewalls for real-time threat filtering. It also emphasizes content discoverability and AI readiness scoring of datasets to assist users in selecting appropriate resources. 

Objective and Impact:

• By providing a unified portal for seamless access to datasets, models, and tools, AIKosha aims to democratize AI development in India. It supports students, startups, researchers, academia, and government departments in building AI applications tailored to India’s diverse linguistic and cultural landscape. 
• This initiative is part of the broader IndiaAI Mission, which seeks to establish a comprehensive ecosystem catalyzing AI innovation through public-private partnerships.

Source: PIB

Context: Suggestions that Ukraine could lose access to Elon Musk’s Starlink satellite Internet system, which has been vital in maintaining its military communications, have focused investor interest on Starlink’s smaller European rival Eutelsat.

Background: –

• The stock price of Eutelsat, a Franco-British company, has more than quadrupled since the February 28 public showdown between Ukrainian President Volodymyr Zelenskyy and US President Donald Trump.

Key takeaways

• Starlink users access the Internet for data or voice communication by using a small satellite dish to bounce signals off a constellation of satellites overhead.
• Ukraine’s fixed-line and mobile networks have been badly damaged by bombing since Russia invaded in February 2022, and Starlink has helped Kyiv fill the void by sending tens of thousands of its dishes with terminals.
• Some are made available to civilians, but most are used by Ukraine’s armed forces. Ukrainian units often talk to each other via Starlink, and its services have become virtually indispensable for battlefield command and control.
• Initially, SpaceX helped to fund the provision of Starlink to Ukraine. The US government then took over, though last month Poland said it had been paying Ukraine’s Starlink subscription and would continue to do so.

Eutelsat and Starlink

• Eutelsat already supports government and institutional communications in Ukraine, and can provide an alternative for certain government and defence applications, according to the company.
• Since its merger in 2023 with Britain’s OneWeb, Eutelsat controls the only operational global-coverage constellation, besides Starlink, of satellites in low earth orbit (LEO).
• Starlink’s more than 7,000 LEO satellites, suited to real-time communication, allow it to reach more users around the world and offer higher data speeds.
• But Eutelsat says that even with only 630 LEO satellites, backed up by 35 linked satellites in higher, geostationary orbit, it offers the same capabilities as Starlink in Europe.
• Starlink promises broadband at up to 200 megabits per second, Eutelsat 150.
• OneWeb terminals, however, cost as much as $10,000, plus a monthly subscription. Starlink charges Ukrainian users a one-time payment of $589 in addition to a monthly subscription of $95-$440, depending on the usage.

Source: Indian Express

Context: U.S. company Firefly Aerospace successfully landed its spacecraft on the moon on Sunday, marking only the second private mission to achieve the milestone — and the first to do so upright.

Background: –

• Firefly Aerospace’s Blue Ghost Mission 1 touched down shortly after 3.34 a.m. U.S. Eastern Time (0204 IST) near Mons Latreille, a volcanic formation in Mare Crisium on the moon’s northeastern near side.
• The mission is part of a NASA-industry partnership aimed at reducing costs and supporting Artemis, the programme designed to return astronauts to the moon.

Key Points

• Blue Ghost carries 10 instruments, including a lunar soil analyser, a radiation-tolerant computer and an experiment testing the feasibility of using the existing global satellite navigation system to navigate the Moon.
• Designed to operate for a full lunar day (14 earth days), Blue Ghost is expected to capture high-definition imagery of a total eclipse on March 14, when the earth blocks the sun from the moon’s horizon.
• On March 16, it will record a lunar sunset, offering insights into how dust levitates above the surface under solar influence — creating the mysterious lunar horizon glow first documented by Apollo astronaut Eugene Cernan.
• Blue Ghost’s arrival will be followed on March 6 by fellow Texas company Intuitive Machines’ IM-2 mission, featuring its lander Athena.
• In February 2024, Intuitive Machines became the first private company to achieve a soft lunar landing — also the first U.S. landing since the crewed Apollo 17 mission of 1972.
• However, the success was tempered by a mishap: the lander came down too fast and tipped over on impact, leaving it unable to generate enough solar power and cutting the mission short.
• Until Intuitive Machines’ first successful mission, only five national space agencies had accomplished this feat: the Soviet Union, the United States, China, India and Japan, in that order.

Source: The Hindu