1. OFFER FOR SALE (Syllabus: GS Paper 3 - Economy)

Context: The government has decided to divest 5.36 per cent stake in Rail Vikas Nigam Ltd (RVNL) via an offer for sale that is expected to fetch ? 1,329.90 crore.

• The proposed Offer for Sale (OFS) comprises a base offer size of up to 70,890,683 equity shares of RVNL, representing 3.40 per cent with an option to additionally sell 40,866,394 equity shares, representing 1.96 percent of the total issued and paid up equity share capital.

Offer for sale (OFS)

• About: Offer for sale (OFS) is a simpler method of share sale through the exchange platform for listed companies. 

• Origin: The mechanism was first introduced by India’s securities market regulator SEBI, in 2012, to make it easier for promoters of publicly-traded companies to cut their holdings and comply with the minimum public shareholding norms by June 2013. 

• The method was largely adopted by listed companies, both state-run and private, to adhere to the Sebi order. 

• Later, the government started using this route to divest its shareholding in public sector enterprises.

• Mechanism: In an OFS, promoters of a company dilute their stake by selling their shares on an exchange platform. 
• Anyone including retail investors, companies, Foreign Institutional Investors (FIIs) and Qualified Institutional Buyers (QIBs) can bid on these shares.
• Bidding: In an OFS, a buyer has to provide a bid in order to acquire the shares. 
• The company sets a ‘floor price.’ Buyers cannot bid at a price below the floor price. 
• Once the bids are placed, shares are allocated to the different buyers. 
• There is no minimum limit to participate in an OFS. 
• A buyer can bid for even a single share in the OFS process.
• Eligibility: As an individual investor, he can apply in the retail category of the OFS. 
• In this category, his total bid value should not exceed Rs 2 lakh rupees.  Otherwise, it becomes ineligible. 
• He also require a demat account and a trading account in order to participate in an OFS. 
• In case he is  an offline investor, he can still place his bids through an assigned dealer.

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2. EVALUATION OF WIND ENERGY (Syllabus: GS Paper 3 - Energy)

Context: A report titled Evaluation of Wind Energy in India was considered and adopted by the Standing Committee on Energy at their parliamentary sitting held on July 20, 2023.

• The Twenty-Seventh Report of the evaluation was presented to the Lok Sabha on August 2, 2022 and was laid on the table of the Rajya Sabha on the same day. 
• The MNRE stated that it had revised the ‘Policy for Repowering of the Wind Power Projects’ issued on August 5, 2016 and it had been circulated for stakeholders’ comments on October 17, 2022.

Standing Committee Report Summary

• Potential of wind energy: The Committee observed that only a fraction of the country’s wind potential has been tapped. Reasons for slow capacity addition include: (i) shift in tariff system from feed-in-tariff (guaranteed above-market price for producers) to tariff determination by competitive bidding, and (ii) aggressive bidding by developers. 
• Repowering old turbines: The Committee noted that most of the wind energy potential of India is available in eight states which include Andhra Pradesh, Gujarat, Karnataka, and Madhya Pradesh.  
• The Committee recommended: (i) replacing old and less efficient turbines with advanced turbines, and (ii) formulating a policy for repowering of old turbines and issuing guidelines for recycling old turbines.    
• Change in tariff system: The Committee recommended provisions for a heavy penalty on developers backing out unilaterally and blacklisting persistent defaulters.  
• ?????Solar-wind hybrid projects: The Committee noted that wind and solar energy are complementary to each other as solar power is harnessed during the day and wind power projects are productive during the night. 
• It recommended promoting setting up of wind-solar hybrid projects to harness the installable potential of more than 50 GW. 
• Non-payment by distribution companies: The Committee observed that one of the reasons for the NPAs is the non-payment of dues by distribution companies (discoms). 
• Renewable Purchase Obligation (RPO): The Committee observed that only four states- Himachal Pradesh, Karnataka, Andhra Pradesh, and Tamil Nadu have fulfilled the RPO target of 19% as per the National RPO trajectory for 2020-21.  
• It recommended the ensuring RPO compliance by all states and enforcing penalties against defaulting entities.  
• Offshore wind power: The Committee noted that offshore wind energy (wind energy projects in water bodies) potential was estimated to be about 70 GW off the coast of Gujarat and Tamil Nadu.  
• The Committee recommended exploring offshore wind potential in different coastal areas of India.  

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3. PESTICIDE BAN (Syllabus: GS Paper 3 - Agriculture)

Context: The Supreme Court criticised the Union government for appointing multiple expert committees to reassess the expert committee recommendations on banning hazardous pesticides in agriculture.

• Though various committees recommended banning 27 pesticides, only three have been banned from the list.

Key Points

• The bench raised questions over the 2015 Anupam Verma Committee report, which recommended banning 13 pesticides out of the list of 66 sought to be reviewed by the petitioners.
• The Centre constituted SK Malhotra Committee in 2017, seeking a review on banning 27 pesticides. The committee reinstated the need to ban 27 pesticides in 2018.
• Another sub-committee headed by SK Khurana was later appointed by the Pesticide Registration Committee, an apex body that regulates pesticides in India, to review the banning of 27 pesticides. This committee, too, recommended banning certain pesticides in 2020.
• Anupam Varma Committee and Khurana Committee had proposed banning of same 27 pesticides. 
• Despite this, another committee was formed (Rajendran Committee), which offered contrary recommendations, Bhushan told the court.

Background

• A recent notification by the central government going back on its decision to ban 27 pesticides identified as health hazards by an expert committee has been flagged in the Supreme Court of India. A petition has sought a ban on all 27 pesticides, not just three, as proposed by a February 16, 2023 notification.
• The central government in May 2020 had proposed banning 27 harmful pesticides identified as health hazards by an expert committee.
• However, a draft notification by the Union Ministry of Agriculture and Farmers Welfare published on February 16 went back on the proposal, claiming just three of the 27 were “fit to be banned”.
• The list of 27 was carved out of a more extensive set of 66 suggested to be banned to protect the farmers and consumers of the country.
• On January 23, the Supreme Court directed the Centre to file an updated status report on the actions taken to regulate the ban on hazardous pesticides.

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4. PARLIAMENTARY PRIVILEGE (Syllabus: GS Paper 2 - Polity)

Context: Congress president and Leader of the Opposition in the Rajya Sabha said that he was “insulted” when his microphone was turned off while he was speaking during the session. 

• He called it a breach of his Parliamentary privilege.

Breach of Privileges

• About: Breach of privilege refers to some of the distinct rights that are enjoyed by the legislators in a parliament or an assembly without which they cannot discharge their functions and these rights are peculiar to them and as such are not enjoyed by members of any other institution or body of individuals. 
• Constitutional Provisions: In India, these privileges emanate from the Constitution itself with identical provisions in this regard in the form of Articles 105 and 194, which give these privileges to the Members of Parliament and members of the state legislature respectively. These Privileges can be classified into two broad categories:
• Collective Privileges - Those that are collectively enjoyed by the each House of Parliament.
• Individual Privileges - Those that are individually enjoyed by the members.

• Committee of Privileges: Each House of Parliament and its Committees collectively and members of each House individually enjoy certain rights, privileges and immunities without which they cannot perform their functions efficiently and effectively.
• The Committee consists of 15 members (10 members in the case of Rajya Sabha) nominated by the Speaker (Chairman in the case of Rajya Sabha).
• In the Lok Sabha, the Speaker nominates the head of the committee of privileges.
• In the Rajya Sabha, the deputy chairperson heads the committee of privileges.
• Its function is to examine every question involving a breach of privilege of the House or the members of any Committee.
• It determines concerning the facts and makes suitable recommendations in its report.

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5. NCBC (Syllabus: GS Paper 2 - Constitutional Bodies)

Context: The appointments of the Chairman and one Member have been made in the National Commission for Backward Classes (NCBC).

• National Backward Classes Finance and Development Corporation (NBCFDC) provides low interest loans for income generating activities including traditional occupations and agricultural farms to the members of Backward Classes (urban & rural) having annual family income upto Rs.3.00 Lakh. 
• These low interest loans are provided through its Channel Partners (agencies nominated by the States/UTs, various scheduled Banks etc.).

 National Commission for Backward Classes

• The National Commission for Backward Classes (NCBC), a constitutional agency under the Ministry of Social Justice and Empowerment, was founded on August 14, 1993. 
• It was established in accordance with the National Commission for Backward Classes Act, of 1993. 
• NCBC was established as a project to look into the challenges and conditions faced by the socially and academically underprivileged sections and make suitable recommendations.
• 102nd Constitution Amendment Act, 2018 provides constitutional status to the National Commission for Backward Classes. 
• It has the authority to examine the welfare measures and complaints regarding the educationally and socially backward classes.

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6. ED DIRECTOR (Syllabus: GS Paper 2 - Governance)

Context: The Centre moved the apex court seeking modification of its order to allow ED director to continue in office till 15 October in view of the ongoing FATF review.

Background

• The Supreme Court asked Enforcement Directorate (ED) Director to quit four months before his retirement in November even as it upheld statutory amendments which permit the government to stretch the tenures of the Directors of the Central Bureau of Investigation and the ED by another three years.
• CBI and ED chiefs have fixed tenures of two years.
• However, amendments introduced in 2021 to the Central Vigilance Commission Act, the Delhi Special Police Establishment Act and the Fundamental Rules allow them a maximum three annual extensions.
• By upholding the 2021 amendments, the court disagreed with the submissions made by its own amicus curiae.
• The amicus curiae had urged the court to strike down the amendments.
• The court said that the 2021 amendments were enacted by the Parliament. 
• They could not be declared unconstitutional lightly.

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7. PESA ACT (Syllabus: GS Paper 2 - Governance)

Context: The Jharkhand government published draft rules for wide-ranging public consultation for implementing The Provisions of the Panchayats (Extension to Scheduled Areas) Act - or PESA - enacted in 1996 to ensure self-governance through gram sabhas for people living in Scheduled Areas.

• The draft rules have mandated eight standing committees, including for Education and Social Justice, to be working under the gram sabha, which will have at least 50% women and a minimum of 40% people from Scheduled Tribe (ST) communities.

Panchayat Extension to Scheduled Areas Act, 1996

• The Parliament enacted a special legislation called Panchayat (Extension to Scheduled Areas) Act (PESA) in 1996 and came into force on 24th December 1996.
• It is now applicable in the Fifth Schedule areas, which deals with the administration of the districts dominated by the tribal communities, and is in force in 10 states of the country.
• These states include Jharkhand, Chhattisgarh, Odisha, Andhra Pradesh, Gujarat, Himachal Pradesh, Madhya Pradesh, Maharashtra, Rajasthan and Telangana.

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8. ALL INDIA DROPOUT RATE (Syllabus: GS Paper 2 - Education)

Context:  Odisha (27. 3%) has the highest dropout rate at secondary school level followed by Meghalaya (21. 7%), Bihar (20. 5%), and Assam (20. 3%), this was stated in the Rajya Sabha by the ministry of education as it shared the data for Gross Enrolment Ratio (GER) and state-wise data on the transition and dropout rate at various school levels.

Key Points

• While the all India dropout rate at this stage of schooling is 12. 6%, states like West Bengal, Punjab, Nagaland, Gujarat, and Andhra Pradesh have dropout rates of over 15%. 
• At secondary school level the states with dropout rate higher than 15% include Andhra Pradesh (16. 3%), Gujarat (17. 9%), Punjab (17. 2%) and West Bengal (18%). 
• At primary level, the highest dropout rate is in Manipur (13. 3%). 
• Similarly at upper primary level, the highest dropout rate is in Meghalaya. 
• The data shared in Parliament is as per the Department of School Education and Literacy (DoSEL)’s Unified District Information System for Education Plus (UDISE+) system developed to record data on indicators of school education provided by all the states and UTs.

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9. KARGIL VIJAY DIWAS (Syllabus: GS Paper 1 - Important Days)

Context: The Vice-President and Chairman, Rajya Sabha paid tribute to the supreme sacrifice of our brave soldiers on the occasion of 24th Anniversary of Kargil Vijay Diwas in the Upper House.

Kargil Vijay Diwas

• It is celebrated on July 26 every year. 
• The day commemorates the victory of the Indian armed forces in the Kargil War fought against Pakistan.
• The day is observed to pay tribute and honour the bravery and sacrifice of the soldiers in the war of 1999.
• The year 2023 marks the 24th anniversary of Kargil Vijay Diwas.
• It was fought between India and Pakistan at the Line of Control (LoC) in the Kargil district of Jammu and Kashmir.
• The Kargil War was an unexpected intrusion by Pakistani forces into Indian territory.
• They occupied key vantage points in the Kargil region, leading to intense military engagements.
• The Indian Army fought bravely and recaptured the famous 'Tiger Hill' and other important posts around under 'Operation Vijay' by evicting the Pakistani troops in the 1999 Kargil War.
• It was fought at extreme altitudes, with some of the battlegrounds reaching heights of over 18,000 feet.
• It lasted for approximately three months.
• The Indian Army employed heavy artillery, air power as well as major infantry operations during the Kargil War.
• In a first, the Indian side used the Bofors FH-77B howitzers to shoot down enemy positions nested at top of the mountains. 
• Israel provided their Unmanned Aerial Vehicles (UAVs) to India during the conflict.
• It was the first ever war to be broadcasted live on TV channels in India. 
• The war came to an end on July 26, 1999, when India successfully pushed back the Pakistani forces from the occupied positions.
• As per official figures, around 500 Indian soldiers laid down their lives while at least 1,000 Pakistani troops were also killed.
• It was the last war that happened between India and Pakistan. 

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10. HEMATENE (Syllabus: GS Paper 3 - Sci & Tech)

Context: Researchers has come up with a new and highly efficient optical limiter using a novel 2D material, ‘hematene’.

Key Points

• Nanoflakes of a material called hematene extracted from iron ore have been found capable of withstanding and acting as shield from high laser intensities. 
• Hence it could be used to make devices called optical limiters that can protect sensitive optical equipment from light-induced damage.
• Radiation from laser sources is highly concentrated and powerful and can be detrimental to sensitive equipment such as sensors, detectors, and other optical devices. 
• When the input intensity increases optical limiters control the amount of light that passes through, thereby preventing damage to the optical component. 
• These devices are often useful in laser technologies, military, telecommunications, aircrafts, and scientific research in several ways.
• Researchers found that 2D nanoflakes of hematene, a material extracted from iron ore or hematite are capable of withstanding very high laser intensities, and they exhibited excellent optical limiting of green laser light (532 nm) while maintaining a high linear transmission (about 87%) for low-intensity light.
• The nanoflakes of lateral dimensions less than 10 nm, prepared by applying ultrasonic waves to hematite in liquid medium ( facile exfoliation process) for a definite period to exfoliate the 2D nanoflakes of hematene were also found to be highly stable after year-long storage under ambient conditions, indicating tremendous potential as an optical limiter for futuristic applications.

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