Securities and Exchange Board of India (SEBI) chairperson skipped the meeting of the Public Accounts Committee (PAC) citing personal reasons.
About Public Accounts Committee (PAC):
It is a committee of selected members of parliament, constituted by the Parliament of India, for the purpose of auditing the revenue and expenditure of the Government of India.
It serves as a check on the government, especially with respect to its expenditure bill, and its primary function is to examine the audit report of the Comptroller and Auditor General (CAG) after it is laid in Parliament.
CAG assists the committee during the course of the investigation.
The main function of the committee is to ascertain whether the money granted by parliament has been spent by the government within the scope of the demand.
Genesis of the Committee:
It is one of the oldest Parliamentary Committees in India.
From its inception in the year 1921 till early 1950, the Finance Member was appointed as the Chairperson of the Committee, and its secretarial functions were looked after by the Finance Department (later Ministry of Finance).
With the coming into force of the Constitution of India on 26 January 1950, the Committee became a Parliamentary Committee under the control of the Speaker.
Its secretarial functions were transferred to the Parliament Secretariat (now Lok Sabha Secretariat).
Membership:
It consists of not more than twenty-two members, fifteen elected by Lok Sabha, and not more than seven members of Rajya Sabha.
The members are elected every year from amongst its members of respective houses according to the principle of proportional representation by means of a single transferable vote.
The term of office of the members is one year.
The Chairperson of the Committee is appointed by the Speaker from amongst the members of the Committee from Lok Sabha.
The Speaker, for the first time, appointed a Member of the Opposition as the Chairperson of the Committee for 1967-68. This practice has been continuing since then.
A Minister is not elected a member of the Committee, and if a member, after his election to the Committee, is appointed a Minister, he ceases to be a member of the Committee from the date of such appointment.
Functions:
These include examination of accounts showing the appropriation of sums granted by Parliament for the expenditure of the Government of India, the annual finance accounts of the Government, and such other accounts laid before the House as the Committee may think fit.
In scrutinizing the appropriation accounts of the Government of India and the report of the C&AG thereon, the Committee has to satisfy that:
the moneys shown in the accounts as having been disbursed were legally available for, and applicable to, the service or purpose to which they have been applied or charged;
the expenditure conforms to the authority which governs it; and
every re-appropriation has been made in accordance with the provisions made in this behalf under rules framed by competent authority.
The functions of the Committee extend, however, “beyond, the formality of expenditure to its wisdom, faithfulness, and economy”. It thus examines cases involving losses, nugatory expenditures, and financial irregularities.
Securities and Exchange Board of India (SEBI):
It is a statutory regulatory body responsible for protecting investor interests and regulating the securities market in India.
Its functions include:
Prohibiting insider trading, price rigging, and fraudulent practices
Regulating intermediaries, stock exchanges, and corporate activities
Educating investors
Promoting fair practices
Developing the securities market
Environment and Ecology
Topic: Biodiversity
2. Asiatic golden cat
Why in the news?
After a long absence, the Asiatic golden cat has been spotted again in Assam's Manas National Park, marking a significant conservation success. Collaborative efforts of the Assam Forest Department and Aaranyak emerged victorious after years of effort, ending an eight-year monitoring drought.
About Asiatic golden cat:
It is a medium sized cat with relatively long legs.
It is commonly known as “fire cat” in Thailand and Burma, and as “rock cat” in parts of China.
It is found in Southeast Asia, from Nepal and Tibet to Southern China, Sumatra and India.
It prefers forest habitats that are interspersed with rocky areas, being found in deciduous, tropical and subtropical evergreen rainforests.
Its fur ranges in color from cinnamon to various shades of brown, and also gray and black (melanistic).
Conservation Status:
IUCN Red List: Near threatened
Wildlife (Protection) Act of India, 1972: Schedule 1
Manas National Park:
It is located in the foothills of Himalayas in Assam.
It is contiguous with the Royal Manas National Park in Bhutan.
The area has a unique distinction of being a Natural World Heritage Site, a Tiger Reserve, an Elephant Reserve, a Biosphere Reserve and an Important Bird Area.
It is one of the first reserves included in the tiger reserve network under project tiger in 1973.
It forms part of a large tiger conservation landscape which includes Buxa-Nameri-Pakke-Namdapha tiger reserves and protected areas of Bhutan and Myanmar.
Manas River, a major tributary of Brahmaputra River, passes through here.
Its vegetation comprises Sal, scrub forests, old plantations (in buffer areas), semi-evergreen and mixed deciduous forests, interspersed with grasslands and riparian vegetation (in core area).
It is known for its rare and endangered endemic wildlife such as the Hispid Hare, Pygmy Hog, Golden Langur, Indian Rhinoceros, Asiatic Buffalo etc.
Topic: Protected Areas
3. Bhitarkanika national park
Why in the news?
Even as Bhitarkanika national park is likely to face the brunt of cyclone Dana, the denudation of mangrove forests has put areas near it at a greater risk.
Mangrove forests shelter the seaside villages from the worst impact of storms. But a large number of rich and influential prawn mafia cleared the green cover for their gheris as a result of which around one lakh residents of 45 villages around Bhitarkanika have been spending sleepless nights as the cyclone is nearing the coast.
About Bhitarkanika national park:
It is located in Kendrapara district in the state of Odisha.
It is India’s second-largest mangrove ecosystem after the Sunderbans.
It is a 145 Sq km large national park which was designated on 16th September 1998 and obtained the status of a Ramsar site in August 2002, i.e. the second Ramsar site of the State after the Chilika Lake.
It encompasses a network of creeks and canals which are inundated with waters from rivers Brahmani, Baitarani, Dhamra and Patasala, forming a unique ecosystem.
Flora:
Mangrove species, casuarinas, and grasses like the indigo bush are found here.
Fauna:
It has one of the largest populations of endangered saltwater crocodiles in India.
The Gahirmatha Beach, which forms the boundary of the park in the east, is the largest colony of the Olive Ridley Sea Turtles.
Other mammals include monkeys, jackals, common langurs, otters, sambar deer, jungle cats, fox, Mongoose, wolves, fishing cats, hyenas, etc.
Mangroves:
These are a unique type of coastal ecosystem found in tropical and subtropical regions. They are dense forests of salt-tolerant trees and shrubs that thrive in intertidal zones, where land meets the sea.
These ecosystems are characterized by their ability to withstand harsh conditions, such as saline water, tidal fluctuations, and muddy, oxygen-poor soils.
Mangroves exhibit Viviparity mode of reproduction, where seeds germinate within the tree before falling to the ground. This is an adaptive mechanism to overcome the challenge of germination in saline water.
Some mangrove species secrete excess salt through their leaves, while others block the absorption of salt at their roots.
Mangrove plants have special roots like prop roots and pneumatophores, which help impede water flow and provide support in the challenging tidal environment.
Topic: Protected Areas
4. Gandhi Sagar Wildlife Sanctuary
Why in the news?
Gandhi Sagar Wildlife Sanctuary in Madhya Pradesh will be ready to receive cheetahs in nearly four months. The sanctuary, spread over 368 sq km and situated on the northern boundary of Mandsaur and Neemuch districts, will be the second home for cheetahs in India after Kuno National Park.
About Gandhi Sagar Wildlife Sanctuary:
It is situated in northwestern Madhya Pradesh, with one of its boundaries running along the border of Rajasthan.
It lies in the Khathiar-Gir dry deciduous forests ecoregion.
The sanctuary was notified in 1974 and is spread over an area of 368 sq.km.
The Chambal River flows through the sanctuary, dividing it into two parts.
It is characterized by its diverse topography, which includes hills, plateaus, and the catchment area of the Gandhi Sagar Dam on the Chambal River.
It is also a designated Important Bird and Biodiversity Area (IBA).
Its vegetation comprises northern tropical dry deciduous forest, Northern tropical dry mixed deciduous forest and Dry deciduous scrub.
Flora:
The principal tree species found here are Khair, Salai, Kardhai, Dhawda, Tendu and Palash.
Fauna:
Herbivores like Chinkara, Nilgai, and Spotted Deer, and carnivores like the Indian Leopard, Striped Hyena, and Jackal are found in good numbers in the region.
It also has a good population of crocodiles, fish, otters, and turtles.
The sanctuary has many places of historical, archeological, and religious importance, such as Chaurasigarh, Chaturbhuja Nath temple, Bhadkaji rock paintings, Narsinghjhar Hinglajgarh fort, Tarakeshwar temple, etc.
Important Bird and Biodiversity Area (IBA):
It is an area identified using an internationally agreed set of criteria as being globally important for the conservation of bird populations.
IBA was developed and sites are identified by BirdLife International.
There are over 13,000 IBAs worldwide. These sites are small enough to be entirely conserved and differ in their character and habitat from the surrounding habitat.
Topic: Biodiversity
5. Polar bears
Why in the news?
As the Arctic warms, polar bears face a growing risk of contracting viruses, bacteria and parasites that they were less likely to encounter just 30 years ago, research has revealed.
In a study that has provided clues about how polar bear disease could be linked to ice loss, scientists examined blood samples from bears in the Chukchi Sea - between Alaska and Russia.
About Polar bears:
These are large bears native to the Arctic and nearby areas.
They are closely related to the brown bear, and the two species can interbreed.
The species is sexually dimorphic, as adult females are much smaller.
They have white or yellow fur with black skin and a thick layer of fat.
They are more slender than the brown bear, with a narrower skull, longer neck and lower shoulder hump.
The paws are large and allow the bear to walk on ice and paddle in the water.
They are both terrestrial and pagophilic (ice-living) and are considered to be marine mammals because of their dependence on marine ecosystems.
They are mostly carnivorous and specialized for preying on seals, particularly ringed seals. Other prey include walruses, beluga whales and some terrestrial animals.
They are usually solitary but can be found in groups when on land.
During the breeding season, male bears guard females and defend them from rivals.
Mothers give birth to cubs in maternity dens during the winter.
Young stay with their mother for up to two and a half years.
They are considered to be ‘vulnerable’ by the International Union for Conservation of Nature (IUCN) with an estimated total population of 22,000 to 31,000 individuals.
Science and Technology
Topic: Applications in daily life
6. Rudder
Why in the news?
Certain variants of the Boeing 737 (fitted with a ‘rollout guidance actuator’) are under the scanner over an issue that concerns the potential for the occurrence of a jammed or restricted rudder control system. The United States National Transportation Safety Board (NTSB) has put out safety alerts to the manufacturer, Boeing, and the Federal Aviation Administration (FAA). Flowing from this, India’s Directorate General of Civil Aviation has issued directives to Boeing 737 operators in India.
About Rudder:
It is a primary flight control surface which controls rotation about the vertical axis of an aircraft. This movement is referred to as "yaw".
It is a movable surface that is mounted on the trailing edge of the vertical stabilizer or fin.
Unlike a boat, the rudder is not used to steer the aircraft; rather, it is used to overcome adverse yaw induced by turning or, in the case of a multi-engine aircraft, by engine failure and also allows the aircraft to be intentionally slipped when required.
In most aircraft, the rudder is controlled through the flight deck rudder pedals which are linked mechanically to the rudder.
Deflection of a rudder pedal causes a corresponding rudder deflection in the same direction; that is, pushing the left rudder pedal will result in a rudder deflection to the left.
This, in turn, causes the rotation about the vertical axis moving the aircraft nose to the left.
In large or high-speed aircraft, hydraulic actuators are often used to help overcome mechanical and aerodynamic loads on the rudder surface.
Rudder effectiveness increases with aircraft speed. Thus, at slow speed, large rudder input may be required to achieve the desired results.
Smaller rudder movement is required at higher speeds, and, in many more sophisticated aircraft, rudder travel is automatically limited when the aircraft is flown above manoeuvring speed to prevent deflection angles that could potentially result in structural damage to the aircraft.
Directorate General of Civil Aviation (DGCA):
It is the regulatory body in the field of civil aviation primarily dealing with safety issues.
It is an attached office of the Ministry of Civil Aviation.
It is responsible for regulation of air transport services to/from/within India and for enforcement of civil air regulations, air safety and airworthiness standards.
It also coordinates all regulatory functions with the International Civil Aviation Organisation.
Its main function is to ensure the safety of passengers and crew members on all flights operating in India.
Topic: Health
7. Polio
Why in the news?
India’s polio-free status, declared in 2014, is a significant global health achievement. However, polio remains a threat, as seen in 2024 when a case of vaccine-derived poliovirus surfaced in Meghalaya, following several years without any local cases. Around the same time, the Gaza Strip reported its first paralytic polio case in 25 years. These outbreaks have renewed attention to the importance of Acute Flaccid Paralysis (AFP) surveillance in India that serves as an early warning system for poliovirus circulation and is crucial to maintain India’s polio-free status.
About Polio:
It is a viral infectious disease that can cause irreversible paralysis and even death by affecting the nervous system.
There are three distinct strains of wild poliovirus:
Wild Poliovirus Type 1 (WPV1)
Wild Poliovirus Type 2 (WPV2)
Wild Poliovirus Type 3 (WPV3)
The virus primarily spreads through the fecal-oral route and can multiply in the intestine, where it can invade the nervous system. It predominantly affects children under five.
Available vaccines:
Oral Polio Vaccine (OPV): It is administered as a birth dose, followed by three primary doses at 6, 10, and 14 weeks, and a booster dose at 16-24 months.
Injectable Polio Vaccine (IPV): It is given as an additional dose along with the third DPT (Diphtheria, Pertussis, and Tetanus) vaccine under the Universal Immunization Programme (UIP).
India was declared polio-free by the World Health Organization (WHO) in 2014, with the last wild poliovirus case reported in 2011.
Vaccine-derived poliovirus:
It is a documented variant of poliovirus that originates from the strain used in the oral polio vaccine (OPV).
OPV includes a live, weakened poliovirus that temporarily replicates in intestine, stimulating the immune system to produce antibodies and develop immunity.
On rare occasions, in under-immunized populations, the excreted vaccine virus can circulate, undergo genetic changes, and potentially revert to a form capable of causing paralysis. This is known as circulating vaccine-derived poliovirus (cVDPV).
To stop cVDPV transmission, WHO recommends multiple rounds of high-quality immunization campaigns.
Acute Flaccid Paralysis (AFP)
It is the acute onset of weakness or paralysis with reduced muscle tone in children.
Polio, caused by the wild poliovirus (the natural circulating strain) is one of its causes.
Government Schemes
Topic: Social Security
8. eShram Portal
Why in the news?
The Central Government’s ‘eShram-One Stop Solution’ portal, which aims to integrate information on welfare schemes meant for unorganized workers in an effective manner on a single platform, has now integrated 12 schemes of different Central Ministries and Departments to the site.
The Central Government has also urged States and Union Territories to bring their schemes and benefits for unorganized workers onto the eShram platform as well.
About eShram Portal:
It was launched in the year 2021, to provide a comprehensive database of unorganized workers and serve as a platform for accessing welfare schemes.
It aims to act as a One-Stop Solution for unorganized workers, integrating information and facilitating easy access to social security and welfare schemes.
It works under the Ministry of Labour & Employment.
Features:
It combines information from 12 central schemes to ensure unorganized workers benefit from multiple government initiatives.
It serves as a centralized database and mediator to simplify the process of identifying eligible workers and saturating scheme benefits.
Over 30 crore unorganized workers have registered on the platform as of October 2024.
It improves awareness among unorganized workers regarding available welfare schemes, contributing to better coverage and support for this vulnerable sector.
Social Security:
It is the measure established by legislation to maintain individual or family income or to provide income when some or all sources of income are disrupted or terminated or when exceptionally heavy expenditures have to be incurred (e.g., in bringing up children or paying for health care).
The Centre has decided to extend providing benefits of Employees’ Deposit Linked Insurance (EDLI) Scheme to all subscribers of Employees’ Provident Fund Organisation and their family members till further notice.
The benefits ended in April 2024. A committee had been formed to develop a framework for providing social security and welfare benefits to gig and platform workers.
About Employees Deposit Linked Insurance (EDLI) Scheme:
It is an insurance scheme that was launched by the Government in 1976.
It was launched with the objective of providing social security benefits to the employees of the private sector for whom such benefits were not commonly provided by the employer.
It is managed and administered by the Employees Provident Fund Organisation (EPFO), and the scheme provides term life insurance cover on the life of the member employee.
It covers all organizations registered under the Employees Provident Fund (EPF) and Miscellaneous Provisions Act, 1952.
It works in combination with the EPF and the Employees' Pension Scheme (EPS).
The extent of the benefit is decided by the last drawn salary of the employee.
The registered nominee of the EDLI scheme receives a lump-sum payment in the event of the death of the EPF member, during the period of the service.
The nominee registered in the EDLI is the same as registered in the EPF Scheme.
Features:
Maximum assured benefit up to Rs 7 lakh to be paid to the nominee or legal heir of the EPF member if death occurs while in service.
Minimum assurance benefit is of Rs 2.5 lakh in case the deceased member was in continuous employment for 12 months prior to his or her death.
This life insurance benefit being given to the EPFO member is free of cost for the PF/EPF account holders.
Minimal contribution by employer at 0.5% of employee's monthly wages, up to wage ceiling of Rs 15,000; no contribution made by employee.
Auto-enrolment of PF members in the EDLI scheme.
Benefit directly credited to the bank account of a legal heir or nominee.
Employees Provident Fund Organisation (EPFO):
It is a statutory body under the Employees' Provident Funds and Miscellaneous Act, 1952.
It is under the administrative control of the Union Ministry of Labor and Employment.
The act and schemes framed are administered by a tripartite Board known as the Central Board of Trustees, Employees' Provident Fund, consisting of representatives of Government (Both Central and State), Employers, and Employees.
The Board administers a contributory provident fund, a pension scheme and an insurance scheme for the workforce engaged in the organized sector in India.
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