CURRENT-AFFAIRS

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• The overpopulation of spotted deer in Madhya Pradesh's Pench Tiger Reserve is putting pressure on the ecosystem, leading to efforts aimed at relocating some of these animals to restore balance.
• About Spotted Deer:
  • The spotted deer, also known as Chital, is the most prevalent deer species found in Indian forests.
  • Scientific Name: Axis axis
• Distribution:
  • Native to the Indian subcontinent.
  • Commonly found across Asia, particularly in India, Sri Lanka, Bangladesh, Bhutan, and a small population in Pakistan.
• Features:
  • Stands approximately 35 inches tall and weighs around 187 pounds.
  • Possesses a reddish-brown coat with a white underbelly.
  • Both males and females exhibit small white spots, leading to their name, Spotted Deer or Chital.
  • They are sexually dimorphic; males are larger and have antlers, while females do not.
  • Males have distinctive curved, three-pronged antlers that can reach nearly 3 feet and are shed annually.
  • Lifespan ranges from 20 to 30 years.
  • Highly social creatures, they typically form herds of 10 to 50 individuals, consisting of one or two males alongside several females and their young.
• Conservation Status:
  • IUCN Red List: Least Concern

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• Yemen's Houthi rebels recently launched a ballistic missile that landed near Tel Aviv, a vibrant commercial center in Israel.
• About the Houthis:
  • The Houthis, officially known as Ansar Allah (Partisans of God), are an Iranian-backed Shiite Muslim military and political movement based in Yemen.
  • Sect Background: Their members follow the minority Zaidi sect of Shiite Islam, advocating for regional autonomy for Zaidis in northern Yemen. Shiite Muslims, as a whole, represent a minority within the broader Islamic world, with Zaidis differing significantly in beliefs from the dominant Shiite groups in Iran and Iraq.
  • Demographics: Although a minority in predominantly Sunni Muslim Yemen, Zaidis constitute a substantial population, numbering in the hundreds of thousands and accounting for up to a third of the country’s overall populace.
  • Historical Context: The movement emerged in the 1990s and is named after its late founder, Hussein al-Houthi. Initially, it sought to uphold tribal autonomy in northern Yemen and resist Western influence in the region.
  • Conflict Background: The Houthis have been in conflict with Yemen’s Sunni-majority government since 2004, taking control of the Yemeni capital, Sanaa, in September 2014 and seizing much of northern Yemen by 2016. They currently control about one-third of the country.
  • Current Goals: Today, the Houthis aim for a more prominent role in the Yemeni government and continue to champion the interests of the Zaidi minority.
  • Rhetoric and Designations: The movement is known for its strongly anti-American and anti-Semitic rhetoric, and several of its leaders have been classified as terrorists by the United States.

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• The Union cabinet has recently announced an extension of the PM-AASHA price support scheme in agriculture until 2025-26.
• About Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA):
• PM-AASHA is a comprehensive initiative designed to guarantee fair prices for farmers’ crops.
• Components of PM-AASHA:
• States can choose to implement one or more of the following three components:
  • Price Support Scheme (PSS):
    • Under PSS, Central Nodal Agencies will carry out the physical procurement of pulses, oilseeds, and copra, with active involvement from state governments. The National Agricultural Cooperative Marketing Federation of India (NAFED) and the Food Corporation of India (FCI) will handle procurement operations in various states and districts. The Central Government will cover procurement expenses and any associated losses according to established norms.
  • Price Deficiency Payment Scheme (PDPS):
    • This component aims to include all oilseeds with a specified Minimum Support Price (MSP). It provides direct payments to pre-registered farmers, covering the difference between the MSP and the market price when they sell their produce in designated market yards through a transparent auction system. Payments are made directly to farmers’ registered bank accounts, without any physical procurement of crops, as the scheme compensates farmers for price discrepancies.
  • Pilot of Private Procurement and Stockist Schemes (PPPS):
    • States may also implement PPPS on a trial basis in selected districts or Agricultural Produce Market Committees (APMCs). This scheme allows private stockists to participate in crop procurement. The pilot will involve specific oilseed crops with a declared MSP.
• Note: Only one of the schemes—either PSS or PDPS—can be operational in a state for a given commodity.

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• The Indian REITs Association (IRA) has recently introduced Data Benchmarking Institutions (DBIs) to provide investors with comprehensive insights into real estate investment trusts (REITs).
• About Real Estate Investment Trusts (REITs):
  • REITs are companies that own or finance income-generating real estate across various property sectors. They allow investors to pool their resources and invest in multiple real estate projects, functioning similarly to a mutual fund but for real estate assets.
  • Functionality: REITs manage a portfolio of income-producing properties, including office buildings, hotels, and shopping centers. Unlike traditional real estate firms, REITs focus on purchasing and managing properties rather than developing them for resale.
  • Investment Model: When individuals invest in a REIT, they gain fractional ownership of the properties based on their investment amount, enabling them to enjoy the benefits of real estate ownership without large capital commitments.
  • Liquidity: Most REITs are publicly traded, making them highly liquid compared to conventional real estate investments.
• REITs in India:
  • In India, REITs were established in 2014 and are governed by the Securities and Exchange Board of India (SEBI).
  • To qualify as a REIT, a company must meet the following criteria:
  • At least 90% of its income must be distributed to investors in the form of dividends.
  • A minimum of 80% of its investments must be allocated to revenue-generating properties.
  • No more than 10% of the total investment can be in real estate under construction.
  • The company must have a minimum asset base of ₹500 crores.
  • Additionally, REITs are prohibited from investing in agricultural land or vacant plots.

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• The standing committee of the National Board for Wildlife (SC-NBWL) has recently approved several projects, including a transmission line in the Little Rann of Kutch and a contentious transmission line project in Goa's Mollem National Park.
• About the National Board for Wildlife (NBWL):
  • The NBWL is a statutory body established by the Central Government under the Wildlife (Protection) Act, 1972. It plays a crucial role in guiding government policies on wildlife conservation and granting approvals for projects within Protected Areas (PAs).
  • Legal Mandate: According to the Wildlife Protection Act, any construction of tourist lodges, boundary modifications of PAs, destruction or diversion of wildlife habitats, and de-notification of Tiger Reserves require the approval or recommendation of the NBWL.
• Structure:
  • The NBWL comprises 47 members, with the Prime Minister serving as the chairperson and the Minister of Environment, Forest, and Climate Change as the vice-chairperson.
  • Membership: In addition to representatives from offices and institutions dedicated to wildlife conservation, the board includes the Chief of Army Staff, the Defence Secretary, and the Expenditure Secretary of the Government of India. The central government also nominates 10 members who are recognized conservationists, ecologists, and environmentalists.
  • Standing Committee: Many responsibilities are delegated to the SC-NBWL, which carries out similar functions. This committee consists of the Vice-Chairperson (the Environment Minister), the Member Secretary, and up to ten members nominated by the Vice-Chairperson from the NBWL membership.
• Evolution of Powers:
  • Although initially intended as advisory bodies, the powers and responsibilities of the NBWL and SC-NBWL were expanded in 2002 after a Supreme Court ruling mandated that the SC-NBWL must approve all proposals for “any activity” within wildlife sanctuaries. The SC-NBWL also provides recommendations for the establishment and management of National Parks, Sanctuaries, and other Protected Areas, as well as on restricting activities in these regions.

Typically, the SC-NBWL convenes once every three months.

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• Recently, Seiyhama village in Nagaland celebrated the third edition of the Naga King Chilli festival.
• About the Naga King Chilli:
  • The Naga King Chilli belongs to the genus Capsicum and the family Solanaceae.
  • It is also referred to as raja mircha, Bhoot Jolokia, and Ghost Pepper.
  • Renowned worldwide for its intense heat, it surpasses 1 million Scoville Heat Units (SHU), ranking it among the hottest chillies globally.
  • Beyond its fiery reputation, the king chilli holds significant cultural and economic importance for the Naga people.
  • It was awarded the prestigious Geographical Indication (GI) tag in 2008.
• Cultivation Practices:
  • The cultivation of king chilli in Seiyhama is a time-honored tradition. Farmers typically begin scouting for suitable plots in December or January, favoring large bamboo groves for cultivation.
  • The peak harvest season occurs in August and September, with the final harvest extending into November and December.
• Significance:
  • The Naga King Chilli has historically been used to preserve food in Nagaland’s hot and humid climate, helping to extend the shelf life of produce and minimize waste.

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• Recently, the Union Finance Minister officially launched the NPS Vatsalya scheme.
• About NPS Vatsalya:
  • This initiative is an extension of the existing National Pension Scheme (NPS) but specifically targets children.
• Eligibility Criteria for NPS Vatsalya:
  • All minor citizens (under 18 years of age).
  • Both the child and parent must be Indian citizens, complying with Know Your Customer (KYC) requirements.
  • Accounts can be opened in the minor's name and operated by a parent or guardian, with the minor as the beneficiary.
  • How to Open an Account: The scheme can be initiated through various Points of Presence regulated by the Pension Fund Regulatory Authority of India (PFRDA), including major banks, India Post, pension funds, and online platforms (e-NPS).
• Contributions:
  • Subscribers must make a minimum annual contribution of ₹1,000, with no upper limit on contributions.
  • The PFRDA offers multiple investment options, allowing subscribers to allocate funds in government securities, corporate debt, and equities based on their risk tolerance and return objectives.
• Transition to Regular NPS:
  • Once the child reaches the age of majority, the account can be seamlessly converted into a standard NPS account.
• Withdrawal Rules:
  • After three years of opening the NPS Vatsalya account, partial withdrawals are permitted. Up to 25% of the corpus can be withdrawn for specific purposes, such as education or medical treatment for certain illnesses or disabilities over 75%.
  • Upon turning 18, the child can withdraw the entire corpus up to ₹2.5 lakh. If the amount exceeds this, 20% can be withdrawn, while the remaining 80% must be used for annuity purchase in the NPS.
• In Case of Death:
  • In the event of the subscriber's death, the entire corpus is transferred to the nominee, typically the guardian. If the guardian also passes away, a new guardian must be appointed following a new KYC process.
  • If both parents die, a legal guardian can manage the account without further contributions until the child turns 18.

Recently, the Union Cabinet, chaired by the Prime Minister of India, approved the continuation of two umbrella schemes from the Department of Biotechnology (DBT), now merged into a single initiative called the ‘Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE).’

About Bio-RIDE:

• This scheme is designed to promote innovation, encourage bio-entrepreneurship, and enhance India’s standing as a global leader in biomanufacturing and biotechnology. It aims to accelerate research, improve product development, and bridge the gap between academic research and industrial applications.
• Key Components: Bio-RIDE consists of three main components:
  • Biotechnology Research and Development (R&D)
  • Industrial & Entrepreneurship Development (I&ED)
  • Biomanufacturing and Biofoundry (a new addition under this scheme)
• Objectives:
  • The initiative is part of the Government of India’s mission to leverage bio-innovation to address national and global challenges in areas such as healthcare, agriculture, environmental sustainability, and clean energy.
• Funding and Duration:
  • The proposed budget for implementing the unified scheme, Bio-RIDE, is ₹9,197 crore for the period of the 15th Finance Commission, spanning from 2021-22 to 2025-26.
• The Bio-RIDE scheme aims to:
  • Promote Bio-Entrepreneurship: Foster a robust ecosystem for startups by providing seed funding, incubation support, and mentorship to aspiring bio-entrepreneurs.
  • Advance Innovation: Offer grants and incentives for pioneering research and development in fields like synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
  • Facilitate Industry-Academia Collaboration: Create synergies between academic institutions, research organizations, and industries to speed up the commercialization of bio-based products and technologies.
  • Encourage Sustainable Biomanufacturing: Focus on promoting environmentally friendly practices in biomanufacturing, in alignment with India’s green initiatives.
  • Support Researchers through Extramural Funding: Enhance scientific research and innovation by providing extramural funding to research institutions, universities, and individual researchers across various fields of biotechnology, including agriculture, healthcare, bioenergy, and environmental sustainability.
  • Nurture Human Resources in Biotechnology: Offer comprehensive support and development opportunities for students, young researchers, and scientists working in diverse areas of biotechnology.