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Daily Prelims Notes 16 January 2023

  • January 16, 2023
  • Posted by: OptimizeIAS Team
  • Category: DPN
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Daily Prelims Notes

16 January 2023

Table Of Contents

  1. Europe’s largest known deposit of rare earth elements found in Sweden
  2. Davos 2023: Natural disasters, extreme weather second-most severe global risk in short term, says WEF report
  3. World Economic Forum
  4. Wetland conservation in MP limited by low notification of wetlands
  5. High interest costs may force RBI to cut dividend to govt
  6. First Amendment to the Indian Constitution
  7. National Film Development Corporation
  8. One year after volcanic blast in Tongo Islands

 

1. Europe’s largest known deposit of rare earth elements found in Sweden

Subject : Geography

Section: Economic Geography

Context:

  • Swedish state-owned mining company, LKAB announced that it has discovered more than one million tonnes of rare earth oxides in the northern area of the country.

More in the news:

  • This is the largest known deposit in Europe.
  • Currently, no rare earths are mined in Europe and it mostly imports them from other regions.
  • About 98 per cent of rare earths used by the European Union were sent by China.

Significance of this discovery:

  • Reduced reliance on China for rare earths.
  • Self sufficiency in Electricity generation.
  • Help in transition to green energy: Elements like neodymium and dysprosium are used in wind turbine motors.
  • Crucial for Electric vehicles.

Minerals securiy partnership (MSP):

  • In 2022, the US and 10 other nations — Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea (South Korea), Sweden, the United Kingdom, and the European Commission — came together in a bid to break China’s dominance in the global marketof rare earth minerals and formed the Minerals Security Partnership (MSP).
  • Objective:
    • The goal of the MSP is to ensure that critical minerals are produced, processed, and recycled in a manner that supports the ability of countries to realize the full economic development benefit of their geological endowments.
    • Focus would be on the supply chains of minerals such as Cobalt, Nickel, Lithium and also the 17 “rare earth” minerals.

What are rare earths?

  • Rare earth elements or rare earth metals are a set of 17 chemical elements in the periodic table — the 15 lanthanides, plus scandium and yttrium, which tend to occur in the same ore deposits as the lanthanides, and have similar chemical properties.
  • The 17 rare earths are cerium (Ce), dysprosium (Dy), erbium (Er), europium (Eu), gadolinium (Gd), holmium (Ho), lanthanum (La), lutetium (Lu), neodymium (Nd), praseodymium (Pr), promethium (Pm), samarium (Sm), scandium (Sc), terbium (Tb), thulium (Tm), ytterbium (Yb), and yttrium (Y).
  • Despite their classification, most of these elements are not really “rare”.
  • One of the rare earths, promethium, is radioactive.

Use of rare earths minerals?

  • These elements are important in technologies of consumer electronics, computers and networks, communications, clean energy, advanced transportation, healthcare, environmental mitigation, and national defence, among others.
  • Cerium, the most abundant rare earth element, is essential to NASA’s Space Shuttle Programme.

2. Davos 2023: Natural disasters, extreme weather second-most severe global risk in short term, says WEF report

Subject :Governance

Section: Reports and Indices

About WEF report:

  • Report title: Global risks report 2023
  • Released by: World Economic Forum (WEF)
  • WEF annual meeting held every year in Davos, Switzerland.
  • The 2023 meet title: Cooperation in a Fragmented World

Report findings:

  • ‘Failure to mitigate climate change’ as well as ‘failure of climate change adaptation’ are the two most severe risks facing the world in the next decade, followed by ‘natural disasters and extreme weather events’ and ‘Biodiversity loss and ecosystem collapse’.
  • The ‘cost of living’ ranks as the top most serious global risk in the short term (over the next two years).
  • In 10 countries, natural disasters and extreme weather events were perceived to be the top most severe risk in the short term or in the next two years.

What is ‘Global Risk’?

  • ‘Global risk’ is defined as the possibility of the occurrence of an event or condition which, if it occurs, would negatively impact a significant proportion of global gross domestic product, population or natural resources.

Natural disasters in India:

  • India recorded extreme weather events on 291 of the 334 days between January 1 and November 30, 2022 according to India’s Atlas On Weather Disasters prepared by the Centre for Science and Environment and Down To Earth.

3. World Economic Forum

Subject: International Relations

Sections: Economics/International Organisations

Concept :

  • The 53rd annual meeting of WEF is going to start at Swiss ski resort town with thousands of participants, including about a hundred from India set to discuss ‘cooperation in a fragmented world’.
  • The theme of the 53rd Annual Meeting would be ‘Cooperation in a Fragmented World‘ and it will convene more than 2,700 leaders from 130 countries, including 52 heads of state/government.
  • The programme of the 53rd Annual Meeting focuses on solutions and public-private cooperation to tackle the world’s most pressing challenges and there will be special emphasis on gender and geographical diversity across all sessions.

World Economic Forum

  • The World Economic Forum (WEF) is an international organization headquartered in Geneva, Switzerland.
  • It brings together members of political and business leaders each year to discuss major issues that impact the global economy.
  • Mission: Committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas.
  • These include but are not limited to political, economic, social, and environmental concerns.
  • Davos: The WEF is best known for its annual World Economic Forum Meeting at Davos, the Swiss ski resort.
  • The event regularly draws business and political leaders from around the world for a series of discussions about global issues.
  • The WEF has no independent decision-making power, but seeks to influence powerful people to make decisions that benefit the global community.
  • The organization is funded through its own membership, which includes many prominent business and political figures.

Some major reports published by WEF are:

  • Energy Transition Index.
  • Global Competitiveness Report.
  • Global IT Report (WEF along with INSEAD, and Cornell University publishes this report).
  • Global Gender Gap Report.
  • Global Risk Report.
  • Global Travel and Tourism Report.

World Economic Forum (WEF) and the Great Reset

  • A major theme in recent WEF publications and events is the concept that the global economic, political, and social order must go through a “Great Reset” in the face of technological progress, environmental concerns, and the economic destruction resulting from the COVID-19 pandemic.
  • The Great Reset includes a wide range of suggested reforms linked to economic, societal, geopolitical, environmental, and technological concerns.
  • The reset calls for massive redistribution of wealth and the reduction of competition, creative destruction, and economic growth in favor of collective goals, government control, and social welfare.

4. Wetland conservation in MP limited by low notification of wetlands

Subject : Environment

Section: Ecosystem

Concept :

  • The State Wetland Authority had sent a proposal to the state government for notification of six lakes under Wetland Rules 2017 about a year ago.
  • Additionally, the state has sent a list of as many as 120 wetlands in Madhya Pradesh to the union government to be included in the rejuvenation program for conservation under National Program for Conservation of Aquatic Eco-system (NPCA).
  • The intention was to notify these lakes which would facilitate conservation and their names could be suggested for Ramsar sites designation in the next nomination round.
  • While notification is an independent process from the Ramsar designation, it is an important step for the continued conservation of designated Ramsar sites.
  • Notification of wetlands, by the state government, is the most critical move towards conservation as it draws a map demarcating the boundaries of the wetlands besides identifying its ‘zone of influence,’ which is mandatory under Wetland Rules 2017.

Wetland (Conservation and Management) Rules 2017

  • Wetlands (Conservation and Management) Rules 2017 have enhanced the focus of management of wetlands from a central authority to state bodies.
  • The rules provide for an advisory role for the National Wetland Committee, to guide the state bodies on the integrated management of wetlands based on wise‐use principle and review the progress of integrated management of Ramsar Convention sites among other roles.
  • The new Wetland (Conservation and Management) Rules 2017 rules stipulate setting up of a State Wetlands Authority in each State and union territories that will be headed by the State’s environment minister and include a range of government officials.
  • They will also include one expert each in the fields of wetland ecology, hydrology, fisheries, landscape planning and socioeconomics to be nominated by the state government.
  • It provides guidance on various aspects like identifying wetlands for notification under the Rules, delineating wetlands, wetland complexes and zones of influence, preparation of brief Document, developing a list of activities to be regulated and permitted, constitution and operational matters of the Wetlands Authorities among other issues.
  • The guidelines recommended that the management of each notified wetland is guided by an “integrated management plan” which details strategies and actions for achieving “wise use” of the wetland and includes objectives of site management.

Zone of influence in wetlands

  • The zone of influence of a wetland is an area, in which developmental activities are likely to induce adverse changes in wetland structure and functioning.
  • It is, therefore, important to align developmental planning within the zone of influence with wetland biodiversity and ecosystem services.

Prohibited activities

  • The 2017 rules had listed out activities prohibited within notified wetlands, such as
  • setting up of any industry and expansion of existing industries,
  • manufacture or handling or storage or disposal of construction and demolition waste,
  • solid waste dumping,
  • discharge of untreated wastes and effluents from industries, cities, towns, villages and other human settlements.

Regulated Activities

  • Also based on site-specific conditions, state governments/union territories may consider expanding the list of prohibited activities for a notified wetland, adding that the activities within a notified wetland and its zone of influence, which when contained within a specific threshold or area, are not likely to induce an adverse change in wetlands ecological character and it can be placed under the ‘regulated’ category.
  • It is to be decided on a case to case basis for every wetlands and its zone of influence.
  • For instance, activities like subsistence level biomass harvesting, sustainable culture fisheries practices and plying of non-motorised boats, when regulated, are not likely to induce an adverse change in wetlands.

National Program for Conservation of Aquatic Eco-system (NPCA).

  • The NPCA is a conservation programme for both wetlands and lakes.
  • The National Wetlands Conservation Programmehas been in operation since 1986.
  • Since 2013, the programme is known as National Plan for Conservation of Aquatic Ecosystems.
  • It is a Centrally-sponsored scheme, currently being implemented by the MoEFCC, and was formulated by merging the National Lake Conservation Plan and the National Wetlands Conservation Programme.
  • Under the NPCA scheme, the central assistance is based on proposals received from state governments, in conformity with the guidelines and budget availability.
  • The scheme covers various activities such as interception, diversion and treatment of wastewater, shoreline protection, lakefront development, in-situ cleaning, etc.
  • Aim & Objectives
  • It aims at holistic conservation and restoration of lakes & wetlands for achieving desired water quality enhancement besides improvement in biodiversity and ecosystem through an integrated and multidisciplinary approach with a common regulatory framework.
  • The scheme would contribute to the reduction of pollution loads and improvement in biodiversity as also the goods and services provided by these water bodies to the stakeholders.

Policy for wetland protection in India

  • On an international level, India is party to the Convention on Wetlands, called the Ramsar Convention, an intergovernmental treaty that provides the framework for national action and international cooperation for the conservation and wise use of wetlands and their resources.
  • At national level, wetlands in the country are protected by the Environment (Protection) Act, 1986.
  • The National Environment Policy, 2006 recognizes the ecosystem services provided by wetlands and emphasises the need to set up a regulatory mechanism for all wetlands so as to maintain their ecological character, and ultimately support their integrated management.
  • In specific to wetlands, the environment ministry has come out with the wetland (conservation and management) rules 2017 under the EPA, 1986.

5. High interest costs may force RBI to cut dividend to govt

Subject: Economy

Section: Monetary Policy

Context:

  • The Surplus available with the Reserve Bank of India for transfer or the RBI dividend to the Union government is likely to remain low in the current financial year ending March 2023 because of higher expenditure incurred by the central bank due to rising interest rates and higher costs in managing surplus liquidity in the system.
  • The lower dividend could be due to higher interest payments to banks which parked their surplus liquidity in the reverse repo window.
  • Other factors are,
  • losses on account of a fall in bond prices across the world are likely to impact the income of the central bank.
  • depreciation of rupee by over 10 per cent in the last 12 months.

Investment Revaluation Account Foreign Securities (IRA-FS)

  • Investment Revaluation Account Foreign Securities (IRA-FS) records the unrealized gains or losses on revaluation in foreign dated securities.
  • The balance in IRA-FS decreased from Rs 8,853.67 crore as on March 31, 2021 to (-) Rs 94,249.54 crore as on March 31, 2022 because of increase in yields across the maturities for all major markets.
  • When the yield goes up, the prices of the bond drop, leading to a loss in holdings.
  • However, this loss will be adjusted against the Contingency Fund.

Surplus transfer from RBI

  • The RBI, founded in 1934, operates according to the Section 47 (Allocation of Surplus Profits) Reserve Bank of India Act of 1934.
  • The act mandates that profits made by the central bank from its operations be sent to the Centre.
  • As the manager of its finances, every year the RBI also pays a dividend to the government to help with the finances from its surplus or profit.
  • A technical Committee of the RBI Board headed by Y H Malegam (2013), which reviewed the adequacy of reserves and surplus distribution policy, recommended a higher transfer to the government.

RBI’s Earnings:

  • Returns earned on its foreign currency assets, which could be in the form of bonds and treasury bills of other central banks or top-rated securities, and deposits with other central banks.
  • Interest on its holdings of local rupee-denominated government bonds or securities, and while lending to banks for very short tenures, such as overnight.
  • Management commission on handling the borrowings of state governments and the central government.

RBI’s Expenditure:

  • Printing of currency notes and on staff, besides the commission it gives to banks for undertaking transactions on behalf of the government across the country, and to primary dealers, including banks, for underwriting some of these borrowings.

6. First Amendment to the Indian Constitution

Subject: Polity

Section: Constitutional Framework

Concept :

  • Congress Party once even amended the Constitution to curb free speech while the Narendra Modi government or the Atal Bihari Vajpayee government neither imposed any ban on any media house nor curtailed anyone’s right to free speech and expression in any way, Defence Minister Rajnath Singh said.
  • He said the passage of the first amendment to the Constitution was debated for several days as it was curbing the freedom of speech and expression ( Article 19 ), a fundamental right given in the constitution.

Constitution (First Amendment) Act

  • The First Amendment was passed in 1951 by the Provisional Parliament, which was elected on a limited franchise.
  • This Amendment established a precedent for rewriting the Constitution to override judicial decisions that prevented the government from carrying out its alleged obligations to specific policies and programs.
  • The 1951 Constitution (First Amendment) Act amended the Fundamental Rights clauses of the Indian Constitution in several ways.
  • The First Amendment Act amended articles 15, 19, 85, 87, 174, 176, 341, 342, 372 and 376.
  • It gave ways to limit freedom of speech and expression, supported measures to abolish zamindari, and made it clear that the right to equality does not preclude passing laws that give “particular consideration” to society’s most vulnerable groups.
  • It also added Ninth Schedule to protect the land reforms and other laws included in it from the judicial review.
  • After that, Articles 31A and 31B were inserted.

Implications:

  • Under the provisions of Article 31, laws placed in the Ninth Schedule cannot be challenged in a court of law on the ground that they violated the fundamental rights of citizens.
  • Article 31(A), has vested enormous power to the State with respect to the acquisition of estates or taking over management of any property or corporation in public interest.
  • It sought to exclude such acquisitions from the scope of judicial review under Articles 14 and 19.
  • The Ninth Schedule was widely misused.
  • Ninth Schedule contains more than 250 legislations receiving protection under Ninth Schedule from judicial scrutiny.

7. National Film Development Corporation

Subject: Polity

Section:  Important organizations and mandate

Concept :

  • The Managing Director of the National Film Development Corporation (NFDC), which organized the International Film Festival of India (IFFI) in Goa, has been relieved of his charge by the Ministry of Information and Broadcasting.
  • Recently, theFilms Division, National Film Archive of India and Directorate of Film Festivals were merged with NFDC, as part of the government’s move to unify its various film bodies.

About National Film Development Corporation

  • National Film Development Corporation (NFDC) is a Public Sector Undertaking (PSU) working under the Ministry of Information and Broadcasting which was established in
  • NFDC is based in
  • The objective of the agency is to promote and organize an integrated development of the Indian Film Industry and to foster excellence in cinema.
  • Following the merger, the mandate to produce short films and documentaries, organising various film festivals and film preservation was transferred to the NFDC, by the Ministry of Information and Broadcasting.

Budgetary allocation

  • A budgetary allocation of Rs 1304.52 crore up to the year 2026 was made by the government towards this industry for the activities that will be undertaken by the NDFC.
  • Also, the revenues that will be generated through these activities will also be accrued to the NFDC.

8. One year after volcanic blast in Tongo Islands

Subject: Geography

Section: Geomorphology

Concept:

  • One year on from the massive eruption of an underwater volcano in the South Pacific, the island nation of Tonga is still dealing with the damage to its coastal waters.

About the volcanic eruption

  • It is an Undersea Volcanic Eruption consisting of two small uninhabited islands, Hunga-Ha’apai and Hunga-Tonga.
  • The Tonga Islands occur along the Ring of Fire—a perimeter of heightened volcanic and seismic activity that encircles the Pacific Ocean basin.
  • The Hunga-Tonga-Hunga-Ha’apai volcano has erupted regularly over the past few decades.

  • During events in 2009 and 2014/15, hot jets of magma and steam exploded through the waves.
  • But these eruptions were small, dwarfed in scale when compared to the January 2022 events.
  • This is one of the massive explosions the volcano is capable of producing roughly every thousand years.
  • One of the reasons for it being highly explosive is the Fuel-Coolant interaction.

Impact:

  • Huge volcanic eruptions can sometimes cause temporary global cooling as sulfur dioxide is pumped into the stratosphere.
  • But in the case of the Tonga eruption, initial satellite measurements indicated the amount of sulfur dioxide released would only have a tiny effect of perhaps 0.01 Celsius global average cooling.
  • The eruption altered atmospheric pressure that may have briefly helped clear out the fog in Seattle, in the United States.
  • The waves crossed the Pacific, drowning two people in Peru and causing minor damage from New Zealand to Santa Cruz, California.
  • The US Geological Survey estimated the eruption caused the equivalent of a magnitude 5.8 earthquake.

Undersea Volcano

  • The undersea volcanic eruption happens in a volcano which is located under the ocean surface.
  • There are an estimated one million undersea volcanoes, and most of them are located near the tectonic plates.
  • Apart from lava, these openings also spew out ash.
  • These deposit on the ocean’s floor and lead to the formation of sea mounds – underwater mountains that are formed on the ocean floor but do not reach the water surface.

Fuel-Coolant Interaction

  • If magma rises into sea water slowly, even at temperatures of about 1200 degrees Celsius, a thin film of steam forms between the magma and water.
  • This provides a layer of insulation to allow the outer surface of the magma to cool. But this process doesn’t work when magma is blasted out of the ground full of volcanic gas.
  • When magma enters the water rapidly, any steam layers are quickly disrupted, bringing hot magma in direct contact with cold water.
  • It is akin to weapons-grade chemical explosions.
  • Extremely violent blasts tear the magma apart.
  • A chain reaction begins, with new magma fragments exposing fresh hot interior surfaces to water, and the explosions repeat, ultimately jetting out volcanic particles and causing blasts with supersonic speeds.
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