Daily Prelims Notes 3 June 2024

Daily Prelims Notes

3 June 2024

1. Tonga volcano could cause unusual weather for rest of decade: study

Sub: Geography

Sec: Geomorphology

Hunga Tonga-Hunga Ha’apai Eruption:

• Erupted on January 15, 2022, in Tonga.
  • Hunga Tonga–Hunga Haʻapai is a submarine volcano in the South Pacific located about 30 km (19 mi) south of the submarine volcano of Fonuafoʻou and 65 km (40 mi) north of Tongatapu, Tonga’s main island.
  • It is part of the highly active Kermadec-Tonga subduction zone and its associated volcanic arc, which extends from New Zealand north-northeast to Fiji and is formed by the subduction of the Pacific Plate under the Indo-Australian Plate.
  • It lies about 100 km (62 mi) above a very active seismic zone.
• Consequences: Triggered a Pacific-wide tsunami and sent sound waves globally multiple times.
• Study: New research in the Journal of Climate examines the eruption’s climate impacts.

A peculiar feature of Hunga Tonga- Hunga Ha’apai Eruption:

• Typical Volcanic Smoke contains sulphur dioxide, leading to short-term cooling by forming sulphate aerosols that reflect sunlight.
• But, Hunga Tonga’s eruption produced minimal smoke but released 100-150 million tonnes of water vapour into the stratosphere.
  • This amount of water vapour, unprecedented in volcanic eruptions, contributes to ozone layer depletion and acts as a potent greenhouse gas.

Key Findings:

1. Ozone Hole: The eruption contributed to the unusually large ozone hole observed from August to December 2023.
2. Wetter Summer 2024: The eruption led to an unexpectedly wet summer in 2024, despite predictions of a dry season due to El Niño.
3. Future Weather Effects: Potential long-term impacts on winter weather patterns for several years.

Research Approach:

• Stratospheric Impact:
  • Researchers used satellite data to monitor water vapour in the stratosphere.
  • Climate models simulated future scenarios with and without the water vapour from the eruption.
• Findings:
  • Predicted ozone hole and weather impacts, such as wetter summers in Australia and varying winter patterns globally.
  • Small impact on global mean temperatures (0.015°C), indicating high recent temperatures are not due to the eruption.

Long-term Regional Impacts:

• Australia: Colder and wetter winters in the northern region up to 2029.
• North America: Warmer winters.
• Scandinavia: Colder winters.

Source: TH

2. SC likely to hear plea on EC’s move to relax postal ballot norms

Sub: Polity

Sec: Elections

Context:

• The YSR Congress Party (YSRCP) urgently approached the Supreme Court to contest the Election Commission’s (EC) validation of approximately five lakh postal ballots cast in Andhra Pradesh.

Details:

• The YSRCP’s petition challenges the State High Court’s dismissal of their plea against the relaxation of postal ballot norms by the EC.
• The High Court had dismissed the plea and asked to file an election petition. The petition noted that postal ballots account for 1.5% of the total votes.

Election Commission’s relaxation in the rules:

• It underscored the prescribed procedures for casting, verifying, and counting postal ballots as per the Conduct of Election Rules 1961 and specific instructions issued by the EC on July 19 of the previous year.
• The rules require that Form 13A, containing the voter’s declaration, must be signed and attested by an authorized officer, with any unsigned or unattested forms being rejected.
• The YSRCP contended that an EC circular issued on May 30, 2024, relaxed these norms, allowing ballots to be accepted with just the attesting officer’s signature.
• The party argued that this circular, which applied only to Andhra Pradesh and was issued 17 days after the elections, was suspicious and potentially motivated by ulterior motives.

What is Postal Ballot (or Postal voting)?

• Postal Ballot, also known as absentee voting, is a method of voting in which electors cast their ballots by mail rather than in person at a polling station.
• This method is particularly useful for individuals who are unable to vote in person due to various reasons.
• E.g., being away from their home constituency, having a disability, or being engaged in essential services on election day.

Eligibility:

• Service voters:
  • Members of the armed forces, paramilitary forces, and other government employees deployed on election duty far from their home constituencies.
• Absentee voters:
  • Individuals who are unable to vote in person due to reasons such as being away from their home constituency for work, illness, or disability.
• Electors on election duty:
  • Government officials and polling staff who are assigned duties at polling stations other than their own.
• Electors under preventive detention:
  • Individuals who are detained under preventive custody orders during the election period.
• Senior citizens (citizens above 85 years of age) and Persons with Disability (PwD).
  • The government, in consultation with the Election Commission, amended the Conduct of Election Rules (1961) to raise the minimum age for senior citizens, eligible for voting by postal ballot, to 85 years from 80 years.

Significance:

• Postal ballots play a crucial role in ensuring that eligible voters exercise their franchise, even when they are unable to vote in person.
• They expand the accessibility of the electoral process and contribute to a more inclusive and representative democracy.

Issues associated with postal ballot:

• Vote buying
  • There is a chance that someone else is casting the vote on behalf of the voter because the voter chooses to sell his or her vote.
• Freedom of voting & secrecy might be affected
  • As the voter will have to vote on a printed ballot from their respective home, someone might observe the voter casting her/his vote.
  • This might lead to coercion or forcing the voter to make a particular choice.
• Reliability and delay of postal services
  • While the reliability and delay of postal services in one’s own country are well known to the election commission, conditions might be worse in other countries.
  • Consequently, the postal voting process must start early enough to take into account any unforeseeable conditions.

Source: TH

3. India joins U.S.’s Red Flag air and RIMPAC naval exercises

Sub: IR

Sec: Places in news

Exercise Red Flag:

• Multinational air exercise Red Flag, Alaska (USA), May 30 – June 13, 2024.
• Indian Air Force (IAF) will participate.
• Deployment:
  • Aircraft: 8 Rafale fighters, 3 C-17 transport aircraft, 2 IL-78 mid-air refuelling aircraft.
  • Transit: Staging halts in Greece and Portugal.
• Objective: To integrate aircrews in a multinational environment and provide advanced aerial combat training.
• Participants: Approximately 3,100 service members and over 100 aircraft from 4 nations.
• Operations: Conducted over the Joint Pacific Alaska Range Complex, the largest combat training range in the world.
• IAF History: Previous participation included SU-30MKI fighter jets.

Exercise RIMPAC:

• Event: Rim of the Pacific (RIMPAC), Hawaii, June 25 – August 2, 2024.
• Indian Navy will participate.
• Deployment: Indigenous stealth frigate INS Shivalik.
• Objective: Enhance interoperability with the Japan Maritime Self-Defense Force (JMSDF), US Navy, and other partner navies.
• Participants: 29 nations, 40 surface ships, 3 submarines, 14 national land forces, over 150 aircraft, and more than 25,000 personnel.
  • This year’s participants in RIMPAC include forces from Australia, Belgium, Brazil, Brunei, Canada, Chile, Colombia, Denmark, Ecuador, France, Germany, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Peru, the Republic of Korea, the Republic of the Philippines, Singapore, Sri Lanka, Thailand, Tonga, U.K. and the U.S.
• Scope: The world’s largest international maritime exercise, held biennially since 1971.

Japan-India maritime exercise JIMEX-24:

• Indian Navy said that INS Shivalik, mission deployed to the South China Sea and Pacific Ocean, departed Singapore on May 30 for onward passage to Yokosuka, Japan to participate in Japan-India maritime exercise JIMEX-24 scheduled to be held mid-June and then onward to RIMPAC-24.

Source: TH

4. New method to generate virus-like particles, to help with developing antibodies against Nipah

Sub : Science and tech

Sec: Health

Context:

• Scientists at the Institute of Advanced Virology (IAV), Thonnakkal, Thiruvananthapuram, have developed a novel way of generating non-infectious Nipah virus-like particles (VLPs) in the laboratory, which mimic the wild type Nipah virus (NiV).

More on news:

• This new method offers an alternate, safe and effective platform for developing neutralizing antibodies against NiV in a biosafety level-2 (BSL) laboratory. 
• The IAV team has thus come one step closer to its mandate for developing monoclonal antibodies and antivirals against NiV and similar pathogens.
• Virus neutralization assays are critical for the development and evaluation of vaccines and immunotherapeutics, as well as for conducting basic research into the immune response and pathogenesis of NiV.
• Virus-like particles (VLPs) are molecules that closely resemble viruses, but are non-infectious because they contain no viral genetic material.

About Nipah Virus:

• The zoonotic virus Nipah is a highly pathogenic paramyxovirus, with a fatality rate of up to 80% in affected humans.
• Nipah virus is a highly contagious and often deadly virus that can infect both humans and animals. 
• It belongs to the family Paramyxoviridae, genusHenipavirus.
• Nipah virus was first identified in Malaysia in 1998 when it caused an outbreak of severe respiratory and neurological illness in pigs and a subsequent outbreak in humans.
• Transmission: It spreads through contact with infected animals, contaminated food, or direct human-to-human contact.
• Symptoms: It causes fever, headache, and vomiting, and can lead to severe encephalitis with a high mortality rate.
• Geographic Distribution: Nipah virus outbreaks have occurred in South and Southeast Asia, primarily in Malaysia, Singapore, Bangladesh, and India.
• Animal Reservoir: Fruit bats, especially flying foxes, are natural carriers of the virus.

About VLPs:

• VLPs carry most of the characteristics of the virus, except their ability to replicate (because it lacks the viral genome). 
• VLPs have long been recognised as effective quantitative platforms for studying viral binding and entry kinetics of the virus.
• The advent of NanoBiT technology and “HiBiT-tagged” VLP (HiBiT is an 11 amino acid peptide ) makes it far more sophisticated.
• The genome of the NiV encodes six major proteins: glycoprotein (G), fusion protein (F), matrix (M), nucleocapsid (N), long polymerase (L) and phosphoprotein (P).
• IAV scientists generated “HiBiT-tagged” Nipah virus-like particles (NiV-VLPs) using plasmid-based expression systems, encoding the NiV structural proteins G, F, and M.
• The VLPs thus produced were morphologically and functionally identical to the native virus.
• The inclusion of a highly sensitive HiBiT tag on these VLPs accelerates their potential in antiviral drug screening and vaccine development.

Its advantages:

• The concept of generating VLPs or tagged VLPs is applicable to several other virulent pathogens but it is particularly advantageous to apply this methodology to BSL-3/BSL-4 level viruses, to enable studies in lower biocontainment levels.

5. James Webb Space Telescope spots earliest-known galaxy: What a new study says

Sub : Science and tech

Sec: Space sector

Context:

• NASA’s James Webb Space Telescope (JWST) has spotted the earliest-known galaxy called as JADES-GS-z14-0.

More on news:

• JWST, which by peering across vast cosmic distances is looking way back in time, observed the galaxy as it existed about 290 million years after the Big Bang event that initiated the universe roughly 13.8 billion years ago.
• This period spanning the universe’s first few hundred million years is called cosmic dawn.

What do we know about the galaxy?

• This galaxy, called JADES-GS-z14-0, measures about 1,700-light years across. 
• A light year is the distance light travels in a year, which is 9.5 trillion km.
• The galaxy has a mass equivalent to 500 million stars the size of our Sun and is rapidly forming new stars – about 20 every year.
• Until now, the earliest-known galaxy dated to about 320 million years after the Big Bang, as announced by the JADES team last year.
• The JADES team in the same study disclosed the discovery of the second oldest-known galaxy, from about 303 million years post-Big Bang.

Why is the galaxy so bright?

• Hypotheses that have been advanced to explain the luminosity of early galaxies are as follows:
• The first attributed it to supermassive black holes in these galaxies gobbling up material.
• These galaxies are populated by more stars than expected or by stars that are brighter than those around today.

About James Webb Space Telescope (JWST):

• The James Webb Space Telescope (JWST or “Webb”) is a joint NASA–ESA–CSA space telescope that is planned to succeed the Hubble Space Telescope as NASA’s flagship astrophysics mission.
• The JWST will provide improved infrared resolution and sensitivity over Hubble, and will enable a broad range of investigations across the fields of astronomy and cosmology, including observing some of the most distant events and objects in the universe, such as the formation of the first galaxies.
• JWST will study various phases in the history of the universe, from the formation of solar systems to the evolution of our own Solar System.
• The James Webb Space Telescope (sometimes called JWST or Webb) is an orbiting infrared observatory that will complement and extend the discoveries of the Hubble Space Telescope, with longer wavelength coverage and greatly improved sensitivity.

6. Exit polls and the rules governing it in India: All your questions answered

Sub: Polity

Sec: Elections

Context:

• Recently, the Lok Sabha Election 2024 Exit Poll Results 2024 were out on 1 June 2024.

More on news:

• Recently, the Lok Sabha Election 2024 was held in the country to elect a new Prime Minister and formation of a new central government.
• These general elections are conducted in seven phases to elect members from all the 543 seats of the Lok Sabha.

What are exit polls?

• An election exit poll is a poll of voters taken immediately after they have exited the polling stations. 
• A similar poll conducted before actual voters have voted is called an entrance poll.
• Exit poll is a post-voting poll, which is conducted just after a voter walks out after casting his or her vote.
• Such polls aim at predicting the actual result on the basis of the information collected from voters.
• The inception of exit polls in India traces back to 1957, during the second Lok Sabha elections, with the pioneering initiative led by the Indian Institute of Public Opinion.
• Exit polls are conducted after the culmination of the last phase of voting, in accordance with the guidelines set by the Election Commission of India.
• Distinguished from opinion polls, which precede elections, exit polls entail surveys administered to voters as they exit polling stations post casting their ballots.
• These surveys encompass a spectrum of inquiries, delving into voter motivations and party preferences.
• Exit polls entail the collection of samples, representing diverse demographics and geographical regions, to gauge public sentiment towards political parties and their performance.

Purpose of Exit Polls:

• Exit polls are also used to collect demographic data about voters and to find out why they voted as they did.
• Since actual votes are cast anonymously, polling is the only way of collecting this information.
• Exit polls have historically and throughout the world been used as a check against, and rough indicator of, the degree of election fraud.
• Some examples of this include the 2004 Venezuela recall referendum, and the 2004 Ukrainian presidential election.
• They are used to command a mandate as well as to determine whether or not a particular political campaign was successful or not.

Regulatory framework surrounding exit polls in India:

• The Representation of the People’s Act, 1951, under Section 126A, stipulates that exit polls cannot be conducted or disseminated until the final phase of voting concludes.
• No person shall conduct any exit poll and publish or publicize by means of the print or electronic media or disseminate in any other manner, whatsoever, the result of an exit poll during such period as may be notified by the Election Commission in this regard.
• Section 126A also stipulates that any person who contravenes the provisions of this section shall be punishable with imprisonment for a term which may extend to two years or with fine or with both.
• In previous electoral cycles, the Election Commission specified that television or radio broadcasts should refrain from discussing election-related matters until such results are formally announced by the Election Commission of India, unless such results are carried with clear disclaimer that they are unofficial or incomplete or partial results or projections which should not be taken as final results.

What are Opinion Polls?

• Opinion polls are survey research to determine voter preference among the candidates running for office and predict the outcome of elections.
• An opinion poll, sometimes simply referred to as a poll, is a kind of voter behavior survey conducted to gauge the public opinion before voting takes place, while an exit poll happens right after voting.

7. Proposal by SEBI on Domestic MFs to invest in their Overseas Counterparts

Sub: Economy

Sec: Capital market

Tag: SEBI on Domestic MFs to invest in their Overseas Counterparts

The Securities and Exchange Board of India (SEBI) on May 17 floated a consultation paper proposing a framework for facilitating investments by domestic Mutual Funds (MFs) in their overseas counterparts.

Framework’s Purpose

• Strong Economic Growth: SEBI notes India’s strong economic growth prospects and observes that Indian securities offer attractive investment opportunities for foreign funds.
• International Exposure: Several international indices, ETFs, MFs, and UTs allocate a part of their assets towards Indian securities. For instance, the MSCI Emerging Markets Index holds 18.08% exposure to Indian securities.
• Diversification: Indian mutual funds diversify their portfolios by launching feeder funds that invest in overseas instruments such as units of MF, UTs, ETFs, and/or index funds.
• Ambiguity: There is ambiguity about investments with Indian exposures, deterring domestic MFs from investing in these instruments.

Proposals by SEBI

• Upper Limit Cap: The upper limit for investments made by overseas instruments in India is capped at 20% of their net assets. This cap is deemed appropriate to balance facilitating investments in overseas funds with exposure to India and preventing excessive exposure.
• Pooled Investment Vehicle: Indian mutual funds must ensure that contributions of all investors of the overseas MF/UT are pooled into a single investment vehicle.
• Proportional Gains: All investors of the overseas instrument must receive gains proportionate to their contribution.
• Autonomous Management: Investments should be made autonomously by the manager of the overseas instrument without any influence from investors or undisclosed parties.
• Public Disclosures: SEBI seeks periodic public disclosures of the portfolios of such overseas MF/UTs for transparency.

Breaching the Investment Limit

• Observance Period: If the overseas instrument breaches the 20% limit, the Indian mutual fund scheme investing in the overseas fund will enter a six-month observance period to rebalance its portfolio.
• Investment Suspension: Further investment in the overseas instrument will be allowed only when the exposure drops below the limit.
• Liquidation Requirement: If the portfolio is not rebalanced within this period, the MF must liquidate its investment in the overseas instrument within six months.

8. Does Inequality Lead to Growth?

Sub: Economy

Sec: National Income

Tag: Inequality Lead to Growth

The relationship between inequality and economic growth is complex and debated.

• Incentives for Entrepreneurship:
• Some argue that inequality incentivizes entrepreneurs to start businesses, boosting employment and welfare.
• However, evidence shows that inequality can have several harmful economic effects.
• Impact on Democratic Processes:
• Inequality harms democratic processes by concentrating wealth and power, undermining fair representation and participation.
• Monopoly Power and Consumption:
• Billionaire Wealth: Billionaires often accumulate wealth through monopolistic practices.
• Effect: They can set prices, leading to higher mark-ups above production costs.
• Real Wages: Higher mark-ups reduce real wages and purchasing power.
• Greedflation: Companies raising prices to increase profit margins in response to demand-supply shocks contribute to high inflation.
• Welfare Loss: Monopolistic economies produce less output than competitive ones, leading to welfare losses.
• Economic Efficiency and Welfare:
• Multiplier Effect: Investment boosts worker incomes, increasing consumption and incomes of goods-sellers.
• Monopolistic Impact: Higher mark-ups reduce real wages, weakening the multiplier effect.
• Consumption Patterns: The rich consume a smaller proportion of their income, dampening economic expansion.
• Redistribution and Economic Growth:
• Wealth vs. Profits:
• Investment Decisions: Influenced by future profit expectations, not accumulated wealth.
• Example: Taxing wealth like Gautam Adani’s doesn’t impact investment in airports, as future profits depend on demand.
• Redistributive Policies: Can strengthen the multiplier effect by increasing income for lower-income groups, enhancing purchasing power.
• Curtailing Monopolies: Can lower prices and increase real wages, boosting demand and economic activity.
• Policy Considerations:
• Balanced Redistribution: Must avoid excessively high taxation rates that could harm the economy.
• Thomas Piketty’s Proposal: Taxing billionaire wealth to provide basic income can foster new entrepreneurship and economic growth, even if some wealthy individuals reduce investment.

Conclusion

While inequality may incentivize entrepreneurial activity, its overall economic effects are more nuanced. Excessive inequality, particularly through monopolistic practices, leads to lower real wages, reduced consumption, and weaker economic growth.

Redistribution, when implemented judiciously, can enhance economic efficiency and growth by increasing the purchasing power of a broader segment of the population, creating a healthier and more balanced economy.

Understanding Greedflation

Greedflation is a term used to describe a phenomenon where companies significantly raise prices to increase profit margins, often exploiting situations of economic instability or supply-demand imbalances.

This practice can contribute to inflation rates, impacting the overall cost of living.

• Price Manipulation: Companies with substantial market power may take advantage of economic disruptions, such as pandemics or supply chain issues, to increase prices more than necessary to cover increased costs.
• Profit Maximization: Instead of merely passing on cost increases to consumers, companies use these situations to expand their profit margins, thus leading to higher than justified prices.

Economic Impact: This behavior can exacerbate inflationary pressures, leading to a higher cost of living for consumers, especially in essential goods and services.