Process to set up Sixteenth Finance Commission set to kick off soon

• What is it? It is constitutional body for giving recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves.
• Who constitutes? The Finance Commission is constituted by the President under article 280 of the Constitution.
• It is constituted at the end of every fifth year or earlier, as the deemed necessary by the President.
• Parliament may by law determine the requisite qualifications for appointment as members of the Commission and the procedure of their selection. On account of this, The Finance Commission (Miscellaneous Provisions) Act, 1951 was passed.
• Mandate: It is the duty of the Commission to make recommendations to the President as to:
  • the distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them and the allocation between the States of the respective shares of such proceeds;
  • the principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India;
  • the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State;
  • any other matter referred to the Commission by the President in the interests of sound finance.
• Composition: It consists of a Chairman and four other members appointed by the President.
• Qualifications of members: The Chairman of the Commission is selected from among persons who have had experience in public affairs and the four other members are selected from among persons who
  • are, or have been, or are qualified to be appointed as Judges of a High Court; or
  • have special knowledge of the finances and accounts of Government; or
  • have had wide experience in financial matters and in administration; or
  • have special knowledge of economics
• Tenure of members: Every member will be in office for the time period as specified in the order of the President and is eligible for reappointment.
• Recommendationsof the Finance Commission are not binding on the government.

LIC’s exposure to Adani Group is under 1% of total assets under management

• What is it? AUM is the total market value of investments a financial institution (such as a bank, mutual fund, or hedge fund) owns or manages on behalf of its clients.
• AUM can be calculated in different ways, depending on the firm’s discretion.
• The calculation is done on the basis of either the total capital that the firm handles or calculating the Individual client’s money.
• AUM fluctuates daily reflecting the variable returns from stocks, mutual funds and change in prices of fixed investment.
• Importance of AUM:
  • AUM helps to build the market value of the firm.
  • It can be used as a market tool to attract potential new customers. The higher a firm''s AUM is, the more likely people are to trust them and invest with them.
  • A fund''s management fees and expenses are often calculated as a percentage of AUM.

Book value and Market value of a company

• A company''s **book value is the amount of money shareholders would receive if assets were liquidated and liabilities paid off.**The book value of an asset is strictly based on the company’s balance sheet
• The market value is the value of a company according to the markets based on the current stock price and the number of outstanding shares.
• When the market value is less than book value, the market doesn''t believe the company is worth the value on its books.
• A higher market value than book value means the market is assigning a high value to the company due to expected earnings increases.

D4 Drone System : To Be Showcased At Aero India 2023

• What is it? The Drone Detect, Deter and Destroy system (D4S) is the first indigenously developed anti-drone system to be inducted into the Indian Armed Forces.
• It is developed by Defence Research and Development Organisation (DRDO) and manufactured by Bharat Electronics Limited (BEL).
• Purpose: To detect rogue drones that are likely to attack most vulnerable places.
• Features:
  • D4 system can instantly detect and jam micro drones (Soft kill) and use a laser-based kill mechanism to terminate targets (Hard kill).
  • It uses DRDO''s RF/Global Navigation Satellite System (GNSS) to detect the frequency which is being used by the controller and the signals are then jammed.
  • It can detect and jam micro-drones at a distance of up to 3 km.
  • It can lase a target 1-1.25 km far depending on the wattage of the laser weapon.

Aero India:

• It is a biennial air show and aviation exhibition held in Bengaluru, India at the Yelahanka Air Force Station.
• It is organised by the Defence Exhibition Organisation, Ministry of Defence.

OBC sub-categorisation panel gets 14th extension

• The commission was set up by the President under Article 340 of the Indian Constitution on October 2,2017.

• It is headed by former Delhi High Court judge, Justice G. Rohini (retd).

• Mandate: To examine the issues related to the sub-categorisation of Other Backward Classes.

• Terms of References:

  • to examine the extent of inequitable distribution of benefits of reservation among the castes or communities included in the broad category of Other Backward Classes, with reference to such classes included in the Central List;
  • to work out the mechanism, criteria, norms and parameters in a scientific approach for sub-categorisation within such Other Backward Classes;
  • to take up the exercise of identifying the respective castes or communities or sub-castes or synonyms in the Central List of Other Backward Classes and classifying them into their respective sub-categories.

Article 340

• The Article reads, "The President may, by order, appoint a Commission consisting of such persons as he thinks fit to investigate the conditions of socially and educationally backward classes within the territory of India and the difficulties under which they labour and to make recommendations as to the steps that should be taken by the Union or any State to remove such difficulties and to improve their condition..."

Pair Of Sloth Bears To Be Shifted To Sariska

• Location: It is located in the Aravalli hills in the Alwar district of Rajasthan
• This area was a hunting preserve of the erstwhile Alwar state.
• It was declared as a wildlife reserve in 1955 and then a Tiger Reserve in 1978 under Project Tiger.
• It is the first reserve in the world which successfully relocated tigers.
• Sariska is also famous for old temples, palaces and lakes such as Pandu Pol, Bhangarh Fort, Ajaibgarh, Pratapgarh, Siliserh Lake and Jai Samand Lake.
• Topography: Grasslands, dry deciduous forests, cliffs, and rocky landscapes.
• Flora: salar, kadaya, dhak, gol, ber , Banyan , gugal , bamboo , kair , adusta etc
• Fauna: Bengal tigers, leopard, jungle cat, Indian jackal, chital, chinkara, four-horned antelope, Indian peafowl, grey partridge, Indian peafowl, Indian eagle-owl etc.

Sloth Bear:

• Sloth bears are one of the eight bear species found across the world.
• Scientific name: Melursus ursinus
• Distribution: They mainly inhabit the region of India, Nepal, Sri Lanka and Bhutan.
• Features:
  • They have long, shaggy dark brown or black fur and curved claws, which are the longest out of any of the bear species.
  • It feeds on fruits, ants and termites.
• Conservation Status:
  • IUCN: “Vulnerable”
  • Indian Wildlife Protection Act, 1972: Schedule 1

Shumang Leela

• The meaning of this theatre form is “courtyard performance”, which is performed in Manipur.
• In this, the roles of women are all played by men, called Nupi Shabis.
• In the case of women’s theatre groups, the roles of men are played by women.
• The female roles are taken up by transgender actors.
• The tradition is believed to be descended from Lai Haraoba, a ritual of the Meitei community of Manipur.
• The plays provide a vehicle for educating the public about social, political, and economic issues.
• Types - Shumang Leela is of two types
  • Nupa Shumang Leela - Performed only by men
  • Nupi Shumang Leela - Performed only by women

Plan in place to eradicate invasive plant species from Kerala’s wildlife habitat

• Based on the results of the experimental study done at the Periyar Tiger Reserve, the plan envisages landscape-level management of the tree.
• The two key factors considered in developing the management protocol were the fast nature of the spread of the tree in natural forests, and the restoration of natural forests based on landscape.

Senna spectabilis

• Senna spectabilis is an invasive species.
• It is introduced as an ornamental species and for use as firewood from South and Central America.

Periyar Tiger Reserve

• It is nestled in the southern region of Western Ghats in the state of Kerala.
• It is drained by the rivers Mullayar and Periyar.
• Flora: tropical evergreen, semi-evergreen, moist deciduous forests and grasslands.
• Fauna: Tiger, Elephant, Lion-tailed macaque, Nilgiri Tahr etc.

World Leprosy Day 2023 is observed 29th January

• In India, it is observed on 30th January every year, coinciding with the death anniversary of Mahatma Gandhi.
• The theme of World Leprosy Day 2023 is “Act Now. End Leprosy.

Leprosy

• It is a chronic infectious disease caused by a type of bacteria, Mycobacterium leprae.
• The disease predominantly affects the skin and peripheral nerves if left untreated, the disease may cause progressive and permanent disabilities.
• Transmission: The bacteria are transmitted via droplets from the nose and mouth during close and frequent contact with untreated cases.
• The majority of annual new case detections are from South-East Asia.
• It is a neglected tropical disease (NTD) which still occurs in more than 120 countries, with more than 200 000 new cases reported each year.

India’s Initiatives

• The Government launched National Leprosy Eradication Programme (NLEP) to make India leprosy free.
• It is a Centrally Sponsored Scheme under the umbrella of the National Health Mission (NHM).
• It is implemented in all the States/UTs.

Global Initiatives

• World Health Organisation: The Global Leprosy Strategy 2021–2030 “Towards zero leprosy” was developed through a broad consultative process with all major stakeholders during 2019 and 2020.

Neglected Tropical Diseases Day: Poorest countries continue to be most affected, says WHO

• Neglected tropical diseases (NTDs) are a diverse group of tropical infections which are common in low-income populations in developing regions of Africa, Asia, and the Americas.
• They are caused by a variety of pathogens such as viruses, bacteria, protozoa and parasitic worms (helminths).
• There are a diverse group of 20 diseases that are affecting more than 1 billion people who live in impoverished communities.
• They include Buruli ulcer, Chagas Dengue, Chikungunya, Echinococcosis; foodborne trematodes; human African trypanosomiasis; leishmaniasis; leprosy; Lymphatic filariasis, mycetoma, etc

Global Initiative to end NTDs

• The WHO’s new road map for 2021–2030 calls for three strategic shifts to end NTDs:
  • From measuring process to measuring impact.
  • From disease-specific planning and programming to collaborative work across sectors.
  • From externally driven agendas reliant on programmes that are country-owned and country-financed

Project ELLORA: How Microsoft is helping preserve ''rare'' Indian languages with AI

• Microsoft researchers under this project have been working toward creating digital ecosystems for Indian languages that do not have enough presence online,
• The main goal of the Project? To impact underserved communities through enabling language technology by creating economic opportunities, building technological skills, enhancing education and preserving local languages and cultures for future generations.
• Microsoft Research (MSR) has chosen to focus on three languages namely; Gondi, Mundari and Idu Mishmi.

Gondi Language

• **Language family:**Gondi is a South-Central Dravidian language.
• **Script:**The Gondi script is perhaps the only script in the country besides Urdu which is written right to left.
• In northern and central India, it is the only language, barring Gujarati, which has a **script of its own.**All other north and central Indian languages use the Devnagri script.
• **Dialects:**Gondi, is heavily influenced by the other local languages spoken in the respective states.
• This is spoken by close to three million speakers in Madhya Pradesh, Maharashtra, Chhattisgarh, Andhra Pradesh and Telangana.

Mundari language

• Mundari (Munɖari) is a Munda language of the Austroasiatic language family spoken by the Munda tribes in the eastern Indian states of Jharkhand, Odisha and West Bengal.
• Mundari Bani, a script specifically to write Mundari, was invented by Rohidas Singh Nag.

Idu Mishmi

• The Idu Mishmi language is a small language spoken by the Mishmi people in the Dibang Valley district, of the Indian state of Arunachal Pradesh speakers in China 1994.
• It is considered an endangered language.