1. WHOLESALE PRICE INDEX (Syllabus: GS Paper 3 – Economy)

Context: India's wholesale prices recently remained in deflation for the sixth consecutive month, with inflation at -0.26% in September, a slight improvement from -0.52% in August.

Wholesale Price Index (WPI)

• About: The WPI is a gauge used to monitor and record fluctuations in the prices of bulk goods at the wholesale level within India.
• Published by: Office of Economic Adviser, Ministry of Commerce and Industry.
• Base year: WPI has been revised from 2004-05 to 2011-12 in 2017.
• Formula: WPI = (Total value of the basket of goods and services at current prices / Total value of the basket of goods and services at base year prices) x 100
• Component of WPI: Manufactured products = 65% approx (64.2% now)

o Primary articles = 20% approx (22.6% now)

o Fuel and power = 15% approx (13.1% now)

Deflation

• It is a persistent decline in the overall price level of goods and services in an economy, contrasting with inflation, which involves price increases.
• This economic condition arises when the supply of goods and services surpasses the demand, resulting in reduced consumer expenditure.

---

2. SAME SEX MARRIAGE (Syllabus: GS Paper 2 – Social Issues)

Context: The Supreme Court will recently announce its decision on legal recognition for same-sex marriages, following a 10-day hearing by a five-judge Constitution bench presided over by CJI of India.

• While the petitioners have sought legal recognition by re- wording The Special Marriage Act (SMA), 1954, the Centre has maintained that the matter is sensitive and is best left to the legislature.

Same-Sex Marriage

• Marriage between two men or two women is the practice known as same-sex marriage.
• In most countries worldwide, laws, religious beliefs, and customs have regulated same-sex marriage.
• Over 30 countries legally perform and recognize marriages between same-sex couples as of 2022.
• Mexico is the most recent country to legalize same-sex marriage.
• The right to marry is not expressly recognized either as a fundamental or constitutional right under the Indian Constitution.

Special Marriage Act, 1954

• It is an Indian law that establishes a legal framework for marriages between individuals of diverse religions or castes.
• It primarily regulates civil marriages, with the state's endorsement rather than religious institutions.
• In India, the legal recognition of both civil and religious marriages mirrors the provisions of the UK's Marriage Act of 1949.
• Applicability: The Act is applicable to individuals of all faiths, encompassing Hindus, Muslims, Sikhs, Christians, Jains, and Buddhists, throughout India.

---

3. INS SUMEDHA (Syllabus: GS Paper 3 – Security)

Context: INS Sumedha recently made a port call in Lagos, Nigeria during its deployment to the Gulf of Guinea.

INS Sumedha

• It is third of the indigenously designed and manufactured ‘Saryu’ Class Naval Offshore Patrol Vessel (NOPV). 
• The ship has the capability to be deployed for multiple roles independently and in support of Fleet Operations.
• It is equipped with weapon systems, sensors, state of art navigation, communication systems and Electronic Warfare suites. 
• INS Sumedha has undertaken various Fleet support operations.

Nigeria

• About: It is an African country on the Gulf of Guinea, has many natural landmarks and wildlife reserves
• Capital: Abuja
• Currency: Naira
• Protected Areas: Cross River National Park and Yankari National Parks
• Vegetation: Savanna and rare primate habitats. 
• Shares borders with: Niger in the North, Chad in the North-East, Cameroon in the East & Benin in the West.
• Nigeria's economy is the largest in Africa.
• Nigeria is the 12th largest producer of petroleum in the world, Petroleum accounting for 40% of GDP and 80% of government earnings.

Gulf of Guinea

• The Gulf of Guinea constitutes the most northeastern section of the tropical Atlantic Ocean.
• This gulf serves as the point where the Equator and Prime Meridian intersect, marked at zero degrees latitude and longitude.
• The Gulf of Guinea receives various river inflows, including the Niger and Volta rivers.

---

4. HAILSTORM (Syllabus: GS Paper 2 – Geography)

Context: An intense hailstorm recently caused massive damage to the crops and fruits in south Kashmir’s Kulgam and Shopian districts.

Hailstorm

• About: Hail is composed of icy balls or lumps and forms during hailstorms, which are storms that bring hail to the ground, typically lasting no more than 15 minutes and causing harm to people, buildings, and vehicles.
• Hailstorms are most common in mid-latitudes and can be associated with other severe weather events like cyclones and tornadoes.
• Size: Small pellets to several inches in diameter.

o Conditions for hailstorms include the presence of highly developed Cumulonimbus clouds, strong updrafts, and high concentrations of supercooled liquid water within the clouds.

• Formation: Water droplet carried by an updraft inside a thundercloud. Other supercooled water droplets adhere to it, creating layers of ice.

o As the water droplet ascends in the cloud and encounters more supercooled particles, the hail embryo grows larger.

• Favourable Conditions: High degree of instability, High moisture content, Low freezing level, and High vertical wind shear.

---

5. SEBI’S NEW GUIDLINES (Syllabus: GS Paper 3 – Economy)

Context: The Securities Exchange Board of India (SEBI) has issued a set of amendments to strengthen anti-money laundering(AML) standards and combat finance terrorism (CFT).

• These guidelines are based on rules established under the Prevention of Money Laundering Act of 2002.

Money Laundering

• UN convention on money laundering (Vienna convention) defines money laundering as the conversion or transfer of property, knowing that such property is derived from any offense(s), for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in such offense(s) to evade the legal consequences of his actions.
• In simple terms: It is a process of converting illegally earned money into legitimate money.

Key Amendments

• Financial groups must establish group-wide programs to address money laundering, with further actions required if the host country's AML/CFT standards do not align with the home country's standards.
• In trust cases, reporting entities must ensure trustees disclose their status when initiating an account-based relationship.
• These amendments seek to bolster AML/CFT effectiveness and improve the process of identifying beneficial ownership.

Securities and Exchange Board of India (SEBI)

• Establishment: As a statutory body in the year 1992.
• Headquarters: Mumbai, Maharashtra
• Ministry: Ministry of Finance
• Aim: To protect the interests of investors in securities and to promote the development of, and regulate the securities market.

---

6. SKILL INDIA MISSION (Syllabus: GS Paper 2 – Government Scheme)

Context: ‘Skill India Mission’ partners with Coca-Cola India to launch the Super Power Retailer Skill Development Program.Skill India Mission

• Launched: On July 15, 2015
• Implemented by: The Ministry of Skill Development and Entrepreneurship (MSDE)

o It is a comprehensive program to train and develop industrial, entrepreneurial skills among Indians.

• Aim: To train a minimum of 300 million skilled people by the year. 2022

Objectives

• Enhance the competitiveness of Indian businesses on a global scale.
• Ensure that skill training is not only relevant but also of high quality.
• Prepare the Indian workforce to compete in the global job market.
• Adapt and expand existing skill development programs to meet contemporary challenges.

Initiatives under the Skill India Mission

• Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
• Recognition of Prior Learning (RPL)
• UDAAN
• National Skills Qualifications Framework (NSQF) 
• Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP)

---

7. SKILL INDIA MISSION (Syllabus: GS Paper 2 – Government Scheme)

Context: ‘Skill India Mission’ partners with Coca-Cola India to launch the Super Power Retailer Skill Development Program.Skill India Mission

• Launched: On July 15, 2015
• Implemented by: The Ministry of Skill Development and Entrepreneurship (MSDE)

oIt is a comprehensive program to train and develop industrial, entrepreneurial skills among Indians.

• Aim: To train a minimum of 300 million skilled people by the year. 2022

Objectives

• Enhance the competitiveness of Indian businesses on a global scale.
• Ensure that skill training is not only relevant but also of high quality.
• Prepare the Indian workforce to compete in the global job market.
• Adapt and expand existing skill development programs to meet contemporary challenges.

Initiatives under the Skill India Mission

• Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
• Recognition of Prior Learning (RPL)
• UDAAN
• National Skills Qualifications Framework (NSQF) 
• Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP)

---

8. SUGAR INDUSTRY IN INDIA (Syllabus: GS Paper 3 – Economy)

Context: The Centre may consider imposing stock limits on sugar trade recently if inventory disclosure is not upheld.Sugar Industry in India

• In India's sugar industry, sugarcane is a heavy, low-value, weight-losing, and perishable raw material.
• India ranks second globally in sugar production, but it leads in gur and khandsari production.
• Due to sucrose content loss, sugarcane cannot be preserved indefinitely.
• India, a major player in the global sugar trade, produced 33 million metric tonnes of sugar in 2017/2018.
• The country is currently experiencing record-high sugar output and is on course to surpass Brazil as the world's leading sugar producer.

Sugarcane

• Temperature: Ideally between 21-27°C, in a hot and humid climate.
• Rainfall: Requiring approximately 75-100 cm of annual precipitation.
• Soil Type: Thriving in deep, nutrient-rich loamy soil.
• Geographical Distribution: The top sugarcane-producing states are Maharashtra, followed by Uttar Pradesh and Karnataka.
• Sugarcane can be grown on various soil types, including sandy loam and clay loam, provided they are well-drained.
• Sugarcane serves as the primary source for sugar, Gur (jaggery), khandsari, and molasses production.

---

9. NGRMP (Syllabus: GS Paper 3 – Disaster Management)

Context: Recently, the Centre prepared to launch a ₹150 crore National Glacial Lake Outburst Floods Risk Mitigation Programme (NGRMP) in response to the Sikkim flash flood.

• It will be implemented in four Himalayan states and Union Territories of J&K and Ladakh.

Key Points NGRMP

• The first phase is expected to start this fiscal and continue till 2025-26. 
• The Centre will fund 135 crore through the National Disaster Mitigation Fund and states will pitch in with the remaining 15 crore.
• Four Components

o Component 1: It will focus on Glof hazard and risk assessment. 15% of the programme budget will go towards creating and updating a glacial lake inventory

o Component 2; It will focus on 'Glof monitoring and early warning system. 35% of the allocation will go towards remote sensing techniqu- es, advanced seismometers, water level sensors, cameras and trigger lines to monitor risk prone lakes.

o Component 3: It will focus on Glof mitigation measures. It will have maximum outlay at 40% of the budget and will look at site specific inter- ventions such as reinforcing unsafe moraine dams at glacial lakes, drai- ning of lake waters.

o Component 4: It will be dedicated to awareness generation and community centric capacity building involving multiple stakeholders.

National Disaster Management Authority (NDMA)

• About: NDMA is India’s apex statutory body for disaster management.
• Constituted: On 27th September 2006, by the Disaster Management Act, 2005.
• Composition: The Prime Minister is its chairperson and it has 9 other members. 
• Aim: To spearhead and implement a holistic and integrated approach to Disaster Management in India.

---

10. PSYCHE (Syllabus: GS Paper 3 – Sci and Tech)

Context: NASA has launched a spacecraft called ‘Psyche’ on a six-year mission to study a unique metal-rich asteroid also named ‘Psyche.’

Psyche

• About: Psyche is the name of both an asteroid and a Nasa mission. 
• Asteroid Psyche: It is a unique metal-rich object.

oThis asteroid orbits the Sun between Mars and Jupiter. 

oIt is about 173 miles (279 kilometres) wide and is thought to be the exposed core of an early planet that never fully formed.

• Mission Psyche four Objectives

oUnderstand a previously unexplored building block of planet formation: iron cores.

oLook inside terrestrial planets, including Earth, by directly examining the interior of a differentiated body, which otherwise could not be seen.

oExplore a new type of world. For the first time, examine a world made not of rock and ice, but metal.

oDetermine whether Psyche is a core, or if it is unmelted material.

---

11. WHITE PHOSPHORUS BOMB (Syllabus: GS Paper 3 – Sci and Tech)

Context: Recently the Israeli army has been accused of using white phosphorus bombs on the civilian population of Gaza,White Phosphorus Bomb

• About: White phosphorus bombs are created by combining white phosphorus with rubber.
• Properties: A wax-like chemical, appears pale yellow or colorless and emits a pungent odor resembling rotten garlic.

o Temperature of bomb: 800 °C and spontaneously ignites up to 1,300 °C when exposed to oxygen

o Upon exposure to air, white phosphorus ignites rapidly due to its highly flammable nature.

o Once ignited, this substance is challenging to extinguish because it adheres to numerous surfaces, including skin and clothing.

o Due to its wax-like properties, it proves difficult to remove and often reignites upon bandage removal.

• Armies worldwide employ it in incendiary weapons for various purposes, such as illuminating targets at night and causing harm to adversaries.
• While white phosphorus munitions aren't prohibited by international law, their use is subject to strict regulation due to their incendiary effects.

---