Green Credit Programme

• The Environment Ministry’s ambitious Green Credit Programme (GCP), which aims to enhance the country’s forest and tree cover and encourage “pro-planet actions”, was rolled out was rolled out despite apprehensions from the Law Ministry.
•  The Green Credits Programme is an effort to create a market-based incentive for different kinds of environment-positive actions, not just for carbon emission reductions. Such a market-based system already exists for carbon, at the national as well as international level, that allows trade in carbon credits.
• Companies, or nations, can claim carbon credits if they take action to reduce their carbon footprint.
• These credits can they be traded for money. Companies unable to achieve their emission standards pay to buy these credits and improve their performance.
•  At COP28, PM Modi offered the concept to the international community, in the hope to create a market for green credits at an international level, just like the one on carbon credits exists.
•  Under the programme, individuals, communities and private industries that engage in environment-positive actions get tradable ‘green credits’. Such actions could include increasing forest cover, water management, and sustainable agriculture.
•  These credits can then be traded on a domestic platform to meet legal obligations such as compensatory afforestation for industrial or infrastructure projects.
• Since its launch, 384 entities, including 41 PSUs such as Indian Oil Corporation Ltd, Power Grid Corporation of India Ltd, and National Thermal Power Corporation Ltd, have registered for participation under the scheme.
• According to records obtained under the RTI Act, Environment Minister Bhupender Yadav approved the final draft of the Green Credit Rules on August 18, 2023, before sending it to the Law Ministry’s Legislative Department for vetting.
• On October 5, 2023, the Legislative Department, apart from suggesting tweaks from a drafting angle, noted, “Perhaps, the provisions of the Environment (Protection) Act, 1986, do not support such business objects or activity and rules to be framed for the purposes. In view of the above, the administrative ministry may examine the legality of the proposed Green Credit Rules in consultation with the Department of Legal Affairs.”
• Explaining the rationale, a highly placed source in the Law Ministry drew a parallel with the Energy Conservation Act, which was amended in 2023 to enable the creation of a carbon credit trading scheme after the Law Ministry made similar observations on the market-linked mechanism.
• In response to the Law Ministry’s suggestion, the Environment Ministry argued that the GCP simply supported environmental protection and improvement, placing it well within the scope of the EPA.

How India’s bioeconomy is faring, the road ahead

• The India BioEconomy Report, released by the Department of Biotechnology, says there is ample opportunity for this sector to grow to about $300 billion by 2030, and to $1 trillion by 2047.

Utilising bioresources

• Bioeconomy refers to the industrial use of biological resources (plants, animals, and microorganisms), and the replication of natural biological processes in the production of goods and services.
• This is not new in itself. Biological resources and natural processes have been integral to the healthcare, pharmaceutical, and agriculture sectors for a long time. But their use is now expanding to many other areas. Bioresources like plants or microorganisms are renewable, relatively cheap, and locally available, while natural processes are more sustainable and eco-friendly.
• A  prime example of this is the growing use of ethanol, which is produced through fermentation of crops like sugarcane or corn by microorganisms, as a biological alternative to fuels traditionally derived from hydrocarbons. Modern biology offers sustainable alternatives to clothes, plastics, construction materials, medicines, and a wide variety of chemicals.
• Even in traditional application areas of healthcare and agriculture, there is a push for greater use of biotechnology, which involves the manipulation of biological resources and processes to develop desired products or applications. Development of biomedicines, which are derived from bioresources rather than chemicals, and synthetic biology involving the growth of specially-designed microorganisms with desired traits are areas in which biotechnology is playing an increasingly bigger role.
• That said, since the use of biology in economic processes is still limited, and the potential applications for it are many, there is scope for rapid growth. Significant growth is, in fact, taking place already.
•  The number of companies operating in the bioeconomy has gone up by almost 90% in the last three years, from 5,365 in 2021 to 10,075 in 2024. This number is projected to double again by 2030, by which time such companies would employ close to 35 million people, according to the report.
• Nearly half the value of the bioeconomy (roughly $78 billion) was generated in the industrial sector, for the development and use of biofuels and bioplastics, among other things. The pharma sector accounted for another 35% of the total value, with vaccines the major contributor.
• But the fastest growing segment in 2024 was research and IT, which includes biotech software development, clinical trials, and bioinformatics that helps in areas such as drug research.
• The report showed that only five states — Maharashtra, Karnataka, Telangana, Gujarat and Andhra Pradesh — accounted for more than two-thirds of the value generated in the bioeconomy (see table). The entire eastern and northeastern region generated less than 6% of the total value.
• Maintaining the high growth rates of the past five years in the future will not be easy, the report said.
• This would require greater innovation, incentives for scaling-up of bio-based solutions, and the removal of policy and infrastructure bottlenecks. Addressing the regional imbalance would also be crucial in sustaining high growth.
• While the 4.2% share in the overall GDP was comparable to figures in the United States and China, the bioeconomy of countries like Spain and Italy accounts for more than 20% of their GDP.

BioE3 push

• Realising the potential for greater use of biotechnology in economic processes, the government in 2024 unveiled the BioE3 policy (Biotechnology for Economy, Environment and Employment).
• Its main objective is to establish India as a global hub for bio-manufacturing, and a major centre for research and development in biotechnology.
• The policy is an attempt to prepare India for a future in which the control over, and capabilities in, cutting-edge technologies would be the main drivers of economic growth. The idea is to incentivise and promote the setting-up of a network of universities, research institutions, start-ups and industries to facilitate bio-manufacturing in key areas such as bio-based chemicals and enzymes, functional foods, precision biotherapeutics, marine and space biotechnology, and climate-resilient agriculture.
• India already has fairly well-developed capabilities in some of these areas, which would be relatively easy to build upon in order to deliver commercially successful products.
• The first proposals for setting up these projects are currently being assessed.
• But there is much more that needs to be done. For example, there is a continued reluctance to allow genetically-modified crops that can have a significant impact on productivity and yields. The report calls for addressing this regulatory uncertainty in agricultural biotechnology.
• The report also recommends the creation of a National BioEconomy Mission, and single-window regulatory mechanisms for biotech innovations.

In celebration of tribal festival Sarhul, link to communities’ history, politics

• Adivasis in Jharkhand and the larger Chhotanagpur region will welcome the new year and the spring season with the Sarhul festival .

Nature worship

• Sal trees (Shorea robusta) are venerated in Adivasi tradition. They are seen as the abode of Sarna Maa, the deity protecting the village from inclement natural forces.
• Sarhul, literally “worship of the Sal tree”, is among the most revered Adivasi festivals. It is rooted in nature worship and celebrates the symbolic union of the Sun and the Earth.
• A male priest from the village (pahan) plays the role of the Sun, while his wife (pahen) becomes the Earth.  this union is key to all life on Earth, which depends on the coming together of the Sun’s rays and the soil (Earth).
• Sarhul can thus be seen as a celebration of the cycle of life itself. Only after the rituals are completed do Adivasi folk begin ploughing their fields, sowing their crop, or entering the forest to gather produce.

Three-day festival

• The main rituals happen on day two of the three-day festival at Sarna Sthals. These communally protected “sacred groves” can be found near villages across Chhotanagpur, which includes Jharkhand, parts of Chhattisgarh, Odisha, and Bihar.
• In the lead up, homes and Sarna Sthals are lined with triangular, red and white Sarna flags. On the first day of Sarhul, the village’s pahan, who observes a rigorous fast, fetches water for the ceremonies, houses and Sarna Sthals are cleaned, and Sal flowers gathered for rituals.
• On the next day, the main rituals take place at the Sarna Sthal. The deity is presented with Sal flowers, and a rooster is sacrificed. Villagers seek prosperity, safety, and a good harvest. Holy water is then sprinkled across the village, with performances of traditional songs and dances such as Jadur, Gena and Por Jadur. Later, young men head to nearby ponds and rivers and participate in ceremonial fishing and crab-catching to gather food for the ceremonial feast.
• The final day is marked by a grand community feast, in which people share handia (rice beer) and enjoy a variety of delicacies. The festival ends with the pahan’s blessings and the villagers praying.

Chhotanagpur & beyond

• Sarhul has been celebrated by tribes such as the Oraon, Munda, Santal, Khadia, and Ho, with unique names for the festival and particular ways of celebrations.
• Anthropologist Sarat Chandra Roy, in his seminal work Oraon Religion and Customs (1928), observed that over time, Sarhul evolved from being a hunting-centred tradition to one that revolves around agricultural processes. This, he said, reflected the evolving lifestyle of Adivasis in Chhotanagpur.
• During the 19th and early 20th centuries, when tribes such as the Munda, Oraon, and Santal were sent to faraway places as indentured labour, Sarhul traveled with them. Today, the festival is celebrated in locations ranging from the tea gardens of Assam to the Andaman and Nicobar Islands, Nepal, Bangladesh, and Bhutan.

Evolution of Sarhul

• In the 1960s, Adivasi leader Baba Karthik Oraon, who advocated for social justice and the preservation of tribal culture, began a Sarhul procession from Hatma to the Siram Toli Sarna Sthal in Ranchi.
• In the past 60 years, festive processions have emerged as a crucial part of Sarhul, with the Siram Toli site becoming a major point of convergence for processions. This has also made Sarhul increasingly political, and an occasion to assert the Adivasi identity.
• It also comes at a time when some tribes have sought to claim their distinctiveness from Hinduism. Adivasis following the Sarna faith have demanded the inclusion of a Sarna religion column in the caste census of India in the last 20 years. Several Adivasi groups affiliated with the RSS have, however, argued that Adivasis are part of Hinduism.
• Geeta Shree Oraon, national women’s president of the Akhil Bharatiya Adivasi Vikas Parishad, said the slogan ‘Sarna-Sanatani Ek Hai’ (sarna and sanatanis are one) was once given by Hindu groups to emphasise common identities.

Greenland and Geopolitics 

• The Danish foreign minister on (March 29) scolded the Trump administration for its “tone” in criticising Denmark and Greenland, saying his country is already investing more into Arctic security and remains open to more cooperation with the US.
• Foreign Minister made the remarks in a video posted to social media after US Vice President JD Vance’s visit to the strategic island. Later Saturday, though, US President Donald Trump said NBC News that “I never take military force off the table” in regards to acquiring Greenland.

 Takeaways :

• 1. Greenland’s new Prime Minister Jens-Frederik Nielsen criticised the visit of US Vice President JD Vance in Greenland, calling it a “lack of respect” and urging political unity in the face of “pressure from outside
• 2. Notably, The visit of US Vice President JD Vance to the US military base at Pituffik, located in northern Greenland, came just hours after a new broad government coalition was formed in the capital, Nuuk, with leaders reaffirming their ties to Denmark for now. Vance on Friday said Denmark has “underinvested” in Greenland’s security and demanded that Denmark change its approach as Trump pushes to take over the Danish territory.
• 3. Under a 1951 agreement, the US is entitled to access its base at Pituffik whenever it chooses, provided it notifies Greenland and Denmark in advance. The base, strategically positioned along the shortest route between Europe and North America, is a critical part of the US ballistic missile warning system.
• 4. However, Trump, who previously expressed interest in purchasing Greenland during his first term, reiterated his stance on Wednesday (March 26). “So, I think we’ll go as far as we have to go. We need Greenland and the world needs us to have Greenland, including Denmark,”

Facts on Greenland 

• Greenland, part of North Atlantic Treaty Organization (NATO) through the membership of Denmark, has strategic significance for the US military and for its ballistic missile early-warning system since the shortest route from Europe to North America runs via the Arctic island.
•  Greenland is the largest island on Earth. It is situated in the Arctic and is the most sparsely populated territory in the world. It is bordered by the Atlantic Ocean on one side and the Arctic Ocean on the other. It is home to the northernmost point of land in the world—Kaffeklubben Island.
• Greenland is mineral-rich with large deposits of traditional resources such as gold, nickel, and cobalt. It also has some of the biggest reserves of rare earth minerals such as dysprosium, praseodymium, neodymium, and terbium. Of the 34 classified rare earth minerals, Greenland has about 23. It is these that have brought the island a lot of attention, along with several prospecting mining companies.
• As an autonomous territory of Denmark, Greenland hosts both Danish and US military bases. Its economy relies heavily on fishing, while substantial subsidies from the Danish government contribute about 20% of its GDP.
• Greenland, though geographically part of North America, has been under Denmark’s control—located nearly 3,000 km (1,860 miles) away—for around 300 years. Initially governed as a colony, Greenland remained isolated and economically underdeveloped for much of its early history.
• In 1953, it was integrated into the Kingdom of Denmark, granting Greenlanders Danish citizenship. A significant shift occurred in 1979, when a referendum on home rule allowed Greenland to take control of most internal policies, while Denmark retained authority over foreign affairs and defence

 US quest to acquire Greenland: A Historical Perspective

• Donald Trump in his last term had proposed buying Greenland, terming his proposal a “large real estate deal”. When the Danish PM, Mette Frederiksen, called the idea absurd, Trump cancelled a scheduled visit to Denmark.
• Before that, in 1946, just after the end of World War II, President Harry S Truman offered $100 million to Denmark for Greenland. Truman had earlier considered exchanging some portions of Alaska for certain parts of Greenland. The proposal did not progress.
• In 1867, the US State Department pointed to the fact that Greenland’s strategic location and abundant natural resources make it ideal for acquisition. However, no formal effort was made to move on the suggestion.

Panama Canal

• In January this year, the administrator of the Panama Canal said that the vital waterway will remain under Panamanian control and open to commerce from all countries, rejecting claims made by President-elect Donald Trump that the United States should take over the canal.
• Completed in 1914, the Panama Canal is one of the two most strategically important artificial waterways in the world, alongside the Suez Canal. It connects the Atlantic and Pacific Oceans. For ships traveling between the east and west coasts of the United States, the canal reduces the journey by 8,000 nautical miles, avoiding the dangerous passage around Cape Horn
• The Panama Canal is more than just a channel of water that links two larger bodies; it is a complex, highly engineered system that incorporates locks and elevators to transport ships from one end to the other.
•  This design is necessary because the two oceans connected by the canal are not at the same elevation, with the Pacific Ocean being slightly higher than the Atlantic

India is taking the nuclear energy leap

•   The hallmark of this year’s Union budget was the government’s decision to open the nuclear sector to private players. This was possible only because Prime Minister Narendra Modi takes out-of-the-box decisions.
• As the world’s fifth-largest economy with a population of over 1.4 billion, India’s thirst for energy grows exponentially each year. India’s electricity demand is projected to triple by 2047, but nearly 70 per cent of power generation still comes from fossil fuels. This paradox defines India’s energy challenge — how to promote rapid economic growth while simultaneously reducing carbon emissions and ensuring energy security. Nuclear power has emerged as a crucial pillar in India’s quest for a sustainable and self-reliant energy future.
• Nuclear energy represents one of the most concentrated forms of power generation, where small amounts of fuel can produce enormous quantities of electricity with minimal carbon emissions. France, which generates over 70 per cent of its electricity from nuclear sources, has demonstrated how this technology can form the backbone of a low-carbon energy strategy.
• The hallmark of this year’s Union budget was the government’s decision to open the nuclear sector to private players. This was possible only because Prime Minister Narendra Modi takes out-of-the-box decisions.
• As the world’s fifth-largest economy with a population of over 1.4 billion, India’s thirst for energy grows exponentially each year. India’s electricity demand is projected to triple by 2047, but nearly 70 per cent of power generation still comes from fossil fuels. This paradox defines India’s energy challenge — how to promote rapid economic growth while simultaneously reducing carbon emissions and ensuring energy security. Nuclear power has emerged as a crucial pillar in India’s quest for a sustainable and self-reliant energy future.
• Nuclear energy represents one of the most concentrated forms of power generation, where small amounts of fuel can produce enormous quantities of electricity with minimal carbon emissions. France, which generates over 70 per cent of its electricity from nuclear sources, has demonstrated how this technology can form the backbone of a low-carbon energy strategy.
•  Today, India’s nuclear landscape has transformed. From a mere 4,780 MW in 2013-14, nuclear capacity has surged by over 70 per cent to reach 8,180 MW, spread across 24 operational reactors. Annual electricity generation from these plants has increased from 34,228 million units in 2013-14 to 47,971 million units in 2023-24. While nuclear power currently contributes approximately 3 per cent of India’s electricity generation, this figure is set to grow substantially with 21 reactors totalling 15,300 MW at various stages of implementation.
• The focus has shifted from merely expanding capacity to developing indigenous technology. The successful commissioning of India’s first indigenous 700 MWe Pressurised Heavy Water Reactor (PHWR) at Kakrapar, Gujarat in 2023-24 marks a significant milestone in self-reliance.
•  The country has also made strides in nuclear fuel cycle capabilities, with the Prototype Fast Breeder Reactor (PFBR) achieving critical milestones in 2024, including primary sodium filling and commissioning of sodium pumps. The country has mastered the design and construction of PHWRs.
• Fast Breeder Reactor technology has moved from the drawing board to reality with the 500 MWe Prototype Fast Breeder Reactor nearing completion. This second stage of India’s nuclear programme is crucial as it multiplies fuel utilisation efficiency and prepares the ground for the thorium-based third stage.
• A revolutionary development is the focus on Small Modular Reactors (SMRs) and Bharat Small Reactors (BSRs). The budget has allocated Rs 20,000 crore for SMR research and development, aiming to develop at least five indigenously designed operational SMRs by 2033. BSRs, essentially 220 MW PHWRs with proven safety and performance records, are being upgraded to reduce land requirements, making them suitable for deployment near industries as captive power plants to aid in decarbonisation efforts.
• The government has set a target of 100 GW nuclear power capacity by 2047, a massive increase from the current 8.18 GW. To achieve this, the Nuclear Energy Mission for Viksit Bharat has been launched, focusing on enhancing domestic capabilities.
• International collaborations have been reinvigorated, particularly with Russia, France, and the US.
• The government has accorded in-principle approval to set up six 1208 MW nuclear power plants in cooperation with the US at Kovvada in Andhra Pradesh. Additionally, a significant development is the partnership between the Nuclear Power Corporation of India Limited (NPCIL) and the National Thermal Power Corporation (NTPC), forming a joint venture named ASHVINI to develop nuclear power facilities.
• To facilitate private sector participation, amendments to the Atomic Energy Act and Civil Liability for Nuclear Damage Act are being considered.
• A Meanwhile, public perception and safety concerns continue to influence nuclear expansion, though India’s safety record is exemplary. In the Department of Atomic Energy, we follow the rule of “safety first, production next”. The radiation levels at Indian nuclear facilities are consistently well below global benchmarks, with Kudankulam plant emissions decreasing from 0.081 microsieverts a decade ago to just 0.002 microsieverts today.
• The journey ahead will require balancing ambitious expansion with stringent safety protocols, public acceptance, and financial viability. India’s nuclear programme, in tandem with renewable energy, could reshape the country’s energy landscape.

Centre increases NREGS wages by 2-7% for FY26

• The Centre has hiked the wages under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in the range of 2-7% for the financial year 2025-26.
•  The recent wage hike by Centre under MGNREGS is expected to have both economic and social implications
• MGNREGS has been a critical tool in addressing income inequality and social security in rural India.
• The Ministry of Rural Development (MoRD), which is the nodal ministry to run the rural job guarantee programmes, on Thursday issued a notification revising the NREGS wages for the FY 2025-26.
• In absolute terms, the NREGS wages have seen a hike in the range of Rs 7 to Rs 26. The NREGS wages have been hiked by ₹7 in five states, Andhra Pradesh, Arunachal Pradesh, Assam, Nagaland, and Telangana. The highest increase of Rs 26 has been recorded in Haryana, where NREGS wages will touch the Rs 400-mark during 2025-26 from its current rate of Rs 374 per day. This will be first time the NREGS wages will touch Rs 400 per day in any state.
• The government notifies the NREGS wage rates under sub-section (1) of Section 6 of the Mahatma Gandhi National Rural Employment Guarantee Act, 2005. The new rates become effective from the 1st day (April 1) of the financial year.
• The NREGS wage rates are fixed according to changes in the CPI-AL (Consumer Price Index for Agricultural Labourers), which reflects the increase in inflation in rural areas.
•  In the current financial year (2024-25), Goa had seen the maximum hike of 10.56% over its previous year (2022-23) wage rate; Uttar Pradesh and Uttarakhand recorded the lowest 3.04%.
• Under MGNREGA, every rural household, whose adult members volunteer to do unskilled manual work, is entitled to get at least 100 days of wage employment in a financial year.
• While Section 3 (1) of MGNREGA provides for “not less than 100 days” work per rural household in a financial year, it has become de facto upper limit as the NREGA software does not allow data entries for employment above 100 days to a household unless specifically requested by the State/UT.
• In some cases the government allows additional 50 days of wage employment (beyond the stipulated 100 days). For instance, every Scheduled Tribe household in a forest area is entitled to get 150 days of work under NREGS, provided that such families have no other private property except for the land rights granted under the Forest Right Act, 2016.
• Besides, the government, under Section 3(4) of MGNREGA, can also provide an additional 50 days of unskilled manual work in a financial year in such rural areas where drought or any natural calamity (as per Ministry of Home Affairs) has been notified.

The European Space Agency (ESA) shut down its space observatory

• The European Space Agency (ESA) shut down its space observatory mission, Gaia on Thursday (March 27). Launched into space over a decade ago, Gaia has been instrumental in charting the Milky Way galaxy, revealing its past and estimating its future.
• The retirement of the Gaia mission marks the end of an era in space cartography
• Gaia was launched in December 2013 aiming to create the most precise, three-dimensional map of the galaxy. It began taking observations on July 24, 2014, finally shutting its eyes on January 15, 2025. Over the last decade, Gaia has taken 3 trillion observations of 2 billion stars and objects and helped inform at least 13,000 scientific publications.
• Gaia was positioned in the Lagrange point 2 (L2), around 1.5 million kilometres ‘behind’ the Earth, when viewed from the Sun. This effectively allows the spacecraft to view the larger cosmos unhindered by the planet, the Sun and the Moon.
• As it twirls in space, twin telescopes, placed in different directions, direct light onto a single digital camera with nearly a billion pixels, making it the largest flown in space. The spacecraft is fitted with three instruments – an astrometer, a photometer and a spectrometer – that help interpret the location and motion of stars and other objects.
• Gaia has transformed the way the Milky Way galaxy is viewed. Its data allowed scientists to recreate not just a 3-D map of the galaxy, but also how it will change over time.
• According to Professor Chris Lintott, a British astrophysicist and professor at the University of Oxford, the ripples produced by these collisions still exist and may have resulted in the formation of stars, including the Sun.
• “This shows how Gaia is revealing that the Milky Way’s history is both more dynamic and more complex than we thought,” he stated in a lecture at Gresham College on February 26.
•  After the mission shuts its space eyes, scientists have been conducting tests to assess the behaviour of technologies after spending 10 years in space, and help build future missions.
• A bulk of Gaia’s data is yet to be processed. Scientists at the ESA have been actively downlinking all the data collected by the spacecraft over the years, which will be released in the coming years, leading to more discoveries
• The ESA has said that a part of the remaining data will be released next year, which will cover the mission’s first five-and-a-half years. Another set of data will be released at the end of this decade.
• Despite its scope and magnitude, Gaia would have mapped just about 2% of the 100 billion stars in the galaxy, leaving much to be explored.

 Why Myanmar is frequently rocked by earthquakes

•  A powerful earthquake of magnitude 7.7 and at least six aftershocks struck central Myanmar on Friday, bringing buildings down in the country’s second-largest city, Mandalay, and killing at least 1,600 people as of Sunday.
• Neighbouring Thailand was also affected: an under-construction skyscraper in the capital Bangkok collapsed, killing at least nine people. Parts of Northeast India also felt the shake, although no casualties or significant damage to property has been reported.
• The quake’s epicentre was located 17.2 km from Mandalay, a metropolis with a population of around 1.5 million people. It was a shallow earthquake, with a depth of only 10 km, and the strongest one anywhere in the world in the last two years, according to the United States Geological Survey (USGS).
• Myanmar''s frequent earthquakes are primarily due to its location along the Sagaing Fault, a major tectonic plate boundary between the Indian Plate and the Eurasian Plate.
• This fault runs north to south through the center of Myanmar and is highly active, making it prone to seismic activity. The Indian Plate moves northward along the fault, rubbing sideways against the Eurasian Plate, which creates significant tectonic stress. This interaction often leads to powerful earthquakes
• Since 1900, Myanmar has experienced at least six earthquakes of magnitude greater than 7 near the Sagaing Fault. The country''s geological setting, characterized by active tectonic boundaries and major fault systems, contributes to its susceptibility to earthquakes. Shallow earthquakes, which occur closer to the surface, tend to cause more damage, as seen in recent seismic events

What are Tectonic Plates ?

• Tectonic plates are massive slabs of Earth''s lithosphere, which is the rigid outermost layer of our planet. These plates float on the semi-fluid layer beneath them called the asthenosphere. Imagine them like giant puzzle pieces that cover Earth''s surface.
• There are seven major tectonic plates (like the Pacific, Eurasian, and African plates) and several smaller ones. Their movement and interaction shape many of Earth''s geological features and natural events. Here''s how they work:
• Movement: These plates are constantly moving, albeit very slowly—usually just a few centimeters per year. Their motion is driven by heat from Earth''s core, which creates convection currents in the mantle.
• Interactions: Depending on how the plates interact at their boundaries, they form different types of geological activity:
• Convergent Boundaries: Plates collide, often forming mountains (like the Himalayas) or causing subduction, where one plate dives beneath another, leading to volcanic activity.
• Divergent Boundaries: Plates move apart, creating new crust (e.g., mid-ocean ridges like the Mid-Atlantic Ridge).
• Transform Boundaries: Plates slide past each other, causing earthquakes (like along the San Andreas Fault in California).
• Earthquakes and Volcanoes: The movement of tectonic plates builds up stress along faults (cracks in Earth''s crust). When this stress is released, it causes earthquakes. Similarly, subduction can lead to the formation of magma, which may erupt as volcanoes.
• Their constant motion reshapes Earth''s surface over millions of years, creating continents, ocean basins, and more.

Tectonic plates have shaped landforms

• Tectonic plate movements have shaped some of the most stunning landforms on Earth. Here are examples of landforms created by the interactions of tectonic plates:
• Mountains:
• The Himalayas (created by the collision of the Indian Plate and the Eurasian Plate).
• The Andes (formed at a convergent boundary where the Nazca Plate subducts beneath the South American Plate).
• Volcanic Islands:
• The Hawaiian Islands (formed due to a hotspot, with the Pacific Plate moving over it).
• The Aleutian Islands (resulting from subduction of the Pacific Plate under the North American Plate).
• Rift Valleys:
• The Great Rift Valley in East Africa (created at a divergent boundary where the African Plate is splitting into smaller plates).
• The Mid-Atlantic Ridge (an underwater mountain chain where the Eurasian Plate and the North American Plate are moving apart).
• Fault Lines:
• The San Andreas Fault in California (a transform boundary between the Pacific Plate and the North American Plate).
• Plateaus:
• The Tibetan Plateau (formed as the Indian Plate collided with the Eurasian Plate).
• These landforms are not only awe-inspiring but also reminders of the dynamic forces shaping our planet.

Govt inks contract for procurement of Nag Missile System tracked version

• The government inked two contracts worth Rs 2,500 crore for procurement of anti-tank weapon platform Nag Missile System (NAMIS) tracked version, and 5,000 light vehicles
• These contracts under Buy (Indian-Indigenously Designed, Developed and Manufactured) category were signed in New Delhi in the presence of Defence Secretary Rajesh Kumar Singh.
• The defence ministry has signed a contract with Armoured Vehicle Nigam Limited for the procurement of NAMIS tracked version of anti-tank weapon platform.
• The total cost of the contract for procurement of NAMIS (Tr) weapon system, developed by Defence Research & Development Laboratory of DRDO, is Rs 1,801.34 crore. 
• It marks a significant milestone in the modernisation of the anti-tank capability of the mechanised infantry, enhancing the Indian Army’s operational readiness across a varied spectrum of operations.
• NAMIS (Tr) is one of the most sophisticated anti-tank weapon systems  against enemy armour with fire-and-forget anti-tank missile and sighting system for enhanced firepower and lethality. 
• The weapon system is set to transform the conduct of mechanised operation and offer operational advantage against the adversary.
• The defence ministry has signed a contract with Force Motors Ltd and Mahindra & Mahindra Ltd for around 5,000 light vehicles for the armed forces.
• Light vehicles are modern vehicles designed as per contemporary vehicle technology with enhanced engine power to cater to a payload of 800 kg. It will provide mobility to the armed forces in all types of terrain and operational conditions.
• The projects have immense potential of direct and indirect employment generation by encouraging the MSME sector through components'' manufacturing

NHAI raises record Rs 18,380 crore via InvIT

• National Highways Infra Trust (NHIT), the Infrastructure Investment Trust (InvIT) set up by NHAI in 2020 to support government’s monetisation programme has concluded fourth round of fund-raising of about Rs 18,380 crore. 
• NHIT is the infrastructure investment trust sponsored by the National Highway Authority of India (NHAI) to support the government’s National Monetisation Pipeline (NMP).
• It is the largest monetisation transaction in the history of Indian roads sector. 
•  With completion of this round, the total realised value across the four rounds stands at over Rs 46,000 crore.
•  In this round, NHIT has successfully raised Rs 8,340 crore in unit capital from marquee domestic and international investors along with Rs 10,040 crore in debt from domestic lenders.
• A significant development in this round is subscription by the Employees’ Provident Fund Organisation (EPFO) of Rs 2,035 crore. This is the first ever investment by EPFO in an InvIT. 
• With completion of this round, NHIT will hold a diversified portfolio of 26 operating toll roads (41 toll plazas) with an aggregate length of 2,345 km spread across 12 states with concession periods ranging between 20 to 30 years.

What is Infrastructure Investment Trust (InvIT)?

• Infrastructure Investment Trusts (InvITs) are instruments on the pattern of mutual funds, designed to pool money from investors and invest the amount in assets that will provide cash flows over a period of time.
• InvIT is an innovative trust-based financial instrument, which enables participation in infrastructure financing through a stable and liquid  instrument.
• InvITs provide an opportunity to invest in infrastructure assets with predictable cash flows and dividends. 
• InvITs have been introduced in India in 2014 and are employed by infrastructure asset owners to pool in money from a diverse set of investors against pay-out of cash flow generated by the assets on a periodic basis.
•  InvITs are established as trusts under the Indian Trust Act, 1882 and regulated under the SEBI (Infrastructure Investment Trusts) Regulations, 2014.
• India has seen a number of InvIT transactions since then.

InvITs – Similar instruments globally

• Globally private institutional funds have complemented debt funds in financing infrastructure investment. There has been a global consensus on the potential for tapping large institutional investors (including pension funds, sovereign wealth funds, etc) as well as retail investors towards infrastructure asset class, especially with lower risk levels (brownfield assets). 
•  Two specific instruments seen in the US which have been fairly successful in tapping institutional investors into infrastructure assets are Yieldcos and Master Limited Partnerships (MLPs).

How does it work?

• Under an InvIT transaction, infrastructure asset owners transfer multiple revenue generating asset special purpose vehicles (SPVs) through holding company (holdco) or otherwise to a trust which then issues units to investors for raising money. 
• The upfront money so raised is utilised by the developers for creation of new greenfield assets as also for repayment of debt which enables availability of capital with lenders for investment/lending to new projects. 
• The investors, in lieu of invested money, receive a share of Net Distributable Cash Flows (NDCF – similar to the dividend pay-outs) on a periodic basis, commensurate with their unit holding in the Trust. 
• Improved yields for the unit holders can be insured, by adding revenue-generating projects and expanding its portfolio.

Key stakeholders

• Under this structure, the public asset owner (sponsor) creates an independent trust and transfers the ownership/ rights of the public assets to the same. Investors (unit holders) are the beneficiaries of the trust.
•  The sponsor: The sponsor is the public asset owner (for public-owned assets) which sets up the InvIT with the objective to monetise its assets. In case of PPP projects, the sponsor is the infrastructure developer or a SPV holding the concession agreement.
• The trustee: The trustee means a person who holds the InvIT assets in trust for the benefit of the unit holders, in accordance with extant regulations.
• The unit holders: The unit holders are the investors who subscribe to the units of the InvIT. The unit holders are the eventual beneficiaries of the asset.
• The investment manager: The investment manager is responsible for taking investment decisions in the interest of unit holders including addition of new assets / sale of existing assets, leverage, etc.
•  The project manager: The project manager brings in the operational expertise of managing the infrastructure assets as per the interest of the unit holders.
•  Other key stakeholders incidental to the InvIT registration and issuance process include valuer, auditors, merchant bankers, registrar & transfer agent, banks, registrar to the issue, credit rating agencies and depository participants.