1. Mission SCOT

Mission SCOT: The Indian Prime Minister praised the Indian space startup Digantara for the success of Mission SCOT (Space Camera for Object Tracking).

• About: It is capable of detecting objects as small as 5 cm, addressing space debris and congestion issues.

oThe mission aims to improve space traffic management and ensure safe and sustainable use of space through advanced surveillance technologies.

• Startup's Focus: Digantara specializes in space situational awareness (SSA), enhancing orbital debris tracking and satellite collision avoidance.
• Innovation Impact: Marks a major step towards India’s leadership in space technology innovation and private sector contribution to the space ecosystem.

o Supports global efforts to monitor and mitigate space debris, fostering the growth of space sustainability initiatives.

• About: Space debris consists of inactive satellites, rocket stages, discarded hardware, fragments from explosions or collisions, and shed materials like insulation and paint from satellites.

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2. Firefly Constellation

Firefly Constellation: Pixxel, a Bengaluru-based space technology company backed by Google and building the world’s highest-resolution hyperspectral satellite constellation, has successfully launched the first three satellites of its Firefly constellation.

• About: Satellites launched via SpaceX's Transporter-12 rideshare mission from Vandenberg Space Force Base, California.

o Three additional Firefly satellites to be launched in Q2 2025.

• Significance of Firefly Constellation: World's highest-resolution hyperspectral satellites with 5-metre resolution, surpassing the 30-metre standard.

o Capable of capturing data across 150+ spectral bands, detecting chemical compositions, vegetation health, water quality, and atmospheric conditions.

o Features a 40-kilometre swathe width and daily revisit capability for consistent global coverage.

• Impact of Hyperspectral Imaging: Applications in agriculture, climate action, resource management, deforestation monitoring, ocean pollution detection, and defence.

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3. Karnali Hydro-electric Project

Karnali Hydro-electric Project: Indian Renewable Energy Development Agency Ltd. (IREDA) has recently finalized a Joint Venture Agreement with SJVN Ltd., GMR Energy Ltd, and Nepal Electricity Authority (NEA).

• About: Development of the 900 MW Upper Karnali Hydro-electric Project in Nepal.
• Purpose: Strengthen regional energy security and accelerate renewable energy growth.
• Project Framework: Development, construction, operation, and maintenance under Build-Own-Operate-Transfer (BOOT) model.
• 25-year project term from the Commercial Operation Date (CoD).
• About: The Build-Own-Operate-Transfer (BOOT) is a project delivery method where a private entity builds, owns, and operates a facility for a set period of time. The private entity then transfers the facility back to the public sector when the contract ends.

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4. Carbon Capture, Utilization, and Storage (CCUS)

Carbon Capture, Utilization, and Storage (CCUS): NITI Aayog recently organized a pivotal workshop titled "Carbon Capture, Utilization, and Storage (CCUS) in the Indian Cement Sector" at Vigyan Bhawan.

• About: CCUS is a set of technologies that capture carbon dioxide (CO2) emissions and store or reuse them. It is a key technology for reducing emissions and meeting climate goals.
• Objective: Discuss sector-specific decarbonization approaches and explore CCUS technologies.

o CCUS in Cement Sector: 35% to 45% of emissions require CCUS as a key abatement lever.

o Commercializing technologies like kiln electrification and solar fuel will help but are insufficient alone.

• Potential for CCUS in India: Regions like Krishna-Godavari Basin, Deccan Traps, and mature oil and gas fields offer significant CO₂ storage capacity.

o Cement Sector accounts for 5.8% of India's CO₂ emissions.

• Innovative CO₂ utilization pathways, such as producing methanol, biodegradable plastics, and value-added chemicals, will drive a sustainable future.
• Role of DST: The Department of Science and Technology (DST) is developing CCUS technologies.

o DST set up the Centre of Excellence on "Carbon Capture, Utilisation, and Sequestration" (DST-CoE-CCUS-CDI).

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5. Permafrost

Permafrost: A study identified 20 regions in the Arctic most vulnerable to climate change, with permafrost being a common factor in all hotspots.

• About: Permafrost refers to soil or rock that has remained at or below 0°C for at least two consecutive years.

o Climate change causes permafrost to thaw, which could release carbon emissions that have been locked in ice for thousands of years.

• Regions Affected: 16 hotspots are in Eurasia, and the remaining are in North America.

oThese regions are vulnerable due to the thawing of permafrost, which is highly susceptible to temperature rise.

• Key Findings: Eastern Siberian tundra and central Siberia saw substantial land warming between 1997-2020.

o The Eurasian tundra was more impacted than boreal forests:

o 99% of Eurasian tundra experienced significant warming.

o 72% of Eurasian boreal forests experienced warming.

• Warming Causes: Loss of sea ice in the Arctic Ocean, exposing dark sea that absorbs sunlight, contributing to further warming.

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6. Gangasagar Mela

6.Gangasagar Mela: Climate change has registered a significant imprint on the Sagar Island in West Bengal, where the Hindu festival, Gangasagar Mela, is held every year on Makar Sankranti.

• About: Sagar Island is also known as Ganga Sagar or Sagardwip, located in the Ganges Delta on the continental shelf of the Bay of Bengal.
• Geographical Features: Separated from Mahisani Island by the Muriganga River Batala.

o Classified under the sand group category, along with Mahisani and Ghoramara Islands.

o Part of the Sundarbans, but lacks: Tiger habitation and Mangrove forests.

o Small river tributaries typical of the Sundarban delta.

• Religious Significance: It is a prominent Hindu pilgrimage site and hosts the annual Gangasagar Mela, the world’s second-largest human congregation, during Makar Sankranti.

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7. Devaluation of Rupee

Devaluation of Rupee: The Indian rupee recently registered a sharp devaluation with respect to the dollar after remaining stable for over two years or so.

• About factors contributing to Rupee Devaluation: The Capital Outflows leads to significant withdrawal of foreign investments.

o Higher Import Costs escalate prices for imported goods, especially energy and raw materials.

o Adjustments in monetary or exchange rate policies by the Reserve Bank of India.

• Exchange Rate Dynamics:

o Nominal Exchange Rate represents the cost of acquiring one unit of foreign currency using domestic currency.

o Determinants of Change: Influenced by demand and supply in the foreign exchange market.

o Central Bank Policies: Shaped by the exchange rate strategy adopted by the RBI.

• Impacts on the nation's economy:

o Increased Import Costs: A weaker rupee elevates the cost of imports, notably crude oil, leading to higher domestic fuel prices and potential inflationary pressures.

o Foreign Exchange Reserves Decline: To stabilize the rupee, the Reserve Bank of India (RBI) has intervened in the forex market, resulting in a reduction of foreign exchange reserves to a 10-month low of $625.87 billion as of January 10, 2025.

o Impact on Importers' Hedging Strategies: Importers utilizing the 'seagull' option strategy for hedging have faced increased costs due to the rupee's sharp depreciation, as this strategy doesn't lock in a fixed exchange rate.

o Capital Outflows: The rupee's decline has coincided with significant foreign portfolio outflows, with investors withdrawing approximately $6 billion from Indian stocks and bonds in January 2025, exacerbating the currency's depreciation.

o Monetary Policy Challenges: The rupee's depreciation complicates the RBI's monetary policy decisions, particularly concerning interest rate adjustments, due to heightened inflation concerns stemming from increased import costs.

o Historical Context: India has previously faced currency devaluations, notably during the 1991 economic crisis, which led to significant economic reforms and liberalization measures.

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