1. BILLION-LIGHT-YEAR-WIDE ‘BUBBLE OF GALAXIES’ DISCOVERED
TAG: GS 3: SCIENCE AND TECHNOLOGY
CONTEXT: Astronomers have discovered the first “bubble of galaxies,” a huge cosmic structure thought to be a fossilised remnant from just after the Big Bang sitting.
EXPLANATION:
- The bubble spans a billion light years, making it 10,000 times wider than the Milky Way galaxy. This giant bubble cannot be seen by the naked eye, is a relatively close 820 million light years away from our home galaxy.
- The bubble can be thought of as a spherical shell with a heart. Inside that heart is the Bootes supercluster of galaxies, which is surrounded by a vast void sometimes called “the Great Nothing”.
- The shell contains several other galaxy superclusters already known to science, including the massive structure known as the Sloan Great Wall.
- It confirms a phenomenon first described in 1970 by US cosmologist and future physics Nobel winner Jim Peebles. He theorised that in the primordial universe then a stew of hot plasma the churning of gravity and radiation created sound waves called baryon acoustic oscillations (BAOs). As the sound waves rippled through the plasma, they created bubbles.
- Around 380,000 years after the Big Bang the process stopped as the universe cooled down, freezing the shape of the bubbles. The bubbles then grew larger as the universe expanded, similar to other fossilised remnants from the time after the Big Bang.
- Astronomers previously detected signals of BAOs in 2005 when looking at data from nearby galaxies. But the newly discovered bubble is the first known single baryon acoustic oscillation, according to the researchers.
- The astronomers called the bubble Ho’oleilana meaning “sent murmurs of awakening” taking the name from a Hawaiian creation chant.
- It may be the first, but more bubbles could soon be spotted across the universe. Europe’s Euclid space telescope have potential to enable to show some more bubbles and a massive radio telescopes called the Square Kilometre Array, being built in South Africa and Australia, could also offer a new image of galaxies from the viewpoint of the Southern Hemisphere.
2. AFRICAN UNION JOIN G-20
TAG: GS 2: INTERNATIONAL RELATIONS
CONTEXT: African Union becomes permanent member of G-20 under India’s presidency.
EXPLANATION:
- At the inaugural session of the two-day G-20 Summit in New Delhi, 55-nation African Union is welcomed as the new member of the grouping.
- Inclusion of the African bloc will enhance the effectiveness of the G-20 and also strengthen the the voice of the Global South. After the EU, African Union is the second regional bloc to join the G20.
- Apart from supporting the inclusion of African Union as a permanent member of G-20, India has also invited Nigeria, Egypt, and Mauritius as part of the ‘Guest Countries’ at the G-20 summit.
What is African Union?
- The African Union (AU) is a continental body consisting of the 55 member states that make up the countries of the African Continent.
- Its headquarters is located in Addis Ababa, Ethiopia.
- It was officially launched in 2002 as a successor to the Organisation of African Unity (OAU, 1963-1999).
- The work of the AU is implemented through several principal decision making organs:-
- Assembly of Heads of State and Government: It is the highest decision-making body, consisting of the heads of state and government of member countries
- Executive Council: It is made up of foreign affairs ministers, handles policy matters and makes recommendations to the Assembly
- Permanent Representatives Committee (PRC)
- Specialised Technical Committees (STCs)
- Peace and Security Council: It is responsible for maintaining peace and security on the continent.
- African Union Commission.
- The AU structure promotes participation of African citizens and civil society through the Pan-African Parliament and the Economic, Social & Cultural Council (ECOSOCC).
Aims of the AU are:
- Achieve greater unity and solidarity between African countries and their the people
- Defend the sovereignty, territorial integrity and independence of its Member States
- Accelerate the political and socio-economic integration of the continent
- Promote and defend African common positions on issues of interest to the continent and its peoples
- Encourage international cooperation
- Promote peace, security, and stability on the continent
- Promote democratic principles and institutions, popular participation and good governance
3. RBI TO DISCONTINUE INCREMENTAL CASH RESERVE RATIO (I-CRR)
TAG: GS 3: ECONOMY
CONTEXT: The Reserve Bank of India (RBI) recently announced that it would discontinue the incremental cash reserve ratio (I-CRR) in a phased manner.
EXPLANATION:
- The RBI announced I-CRR as a temporary measure on August 10, 2023, to absorb excess liquidity from the banking system. The central bank will release the amount which banks have maintained under I-CRR in stages so that system liquidity is not subjected to sudden shocks and money markets function in an orderly manner.
- The level of surplus liquidity in the system surged because of the return of Rs 2,000 banknotes to the banking system, RBI’s surplus transfer to the government, pick up in government spending and capital inflows.
When was I-CRR introduced?
- On August 10, after announcing the monetary policy, RBI Governor said that banks will have to maintain an I-CRR of 10 per cent on the increase in their net demand and time liabilities (NDTL) between May 19, 2023, and July 28, 2023. It came into effect from the fortnight starting August 12.
Why was I-CRR needed?
- The daily absorption of liquidity by the RBI in July was Rs 1.8 lakh crore. Excessive liquidity could pose risks to price stability and also to financial stability.
- Hence, efficient liquidity management requires continuous assessment of the level of surplus liquidity so that additional measures are taken as and when necessary to impound the element of excess liquidity.
What was the impact of I-CRR on liquidity conditions?
- I-CRR measure absorbed above Rs 1 lakh crore of excess liquidity from the banking system.
The banking system’s liquidity turned deficit for the first time in the current fiscal on August 21 after the RBI’s I-CRR mandate.
- The tight liquidity condition was also contributed by outflows on account of goods and services tax (GST) and the selling of dollars by the central bank to stem the rupee’s fall.
What is CRR?
- The Cash Reserve Ratio (CRR) is the minimum amount of the total deposits which banks have to maintain as cash reserve with the Reserve Bank of India.
- It is an essential tool to maintain the health of the banking system. Banks cannot use this amount for lending or for any investment purposes. Currently, CRR stands at 4.5 per cent.
SOURCE: https://indianexpress.com/article/explained/explained-economics/rbi-discontinue-i-crr-8930573/
4. CENTRAL EMPOWERED COMMITTEE (CEC)
TAG: GS 3: ENVIRONMENT
CONTEXT: Experts irked over revised structure of Central Empowered Committee as new notification gives unprecedented powers to central government.
EXPLANATION:
- The Central government on September 5 notified the formation of a “permanent” Central Empowered Committee (CEC). The committee on environment issues, which has been ad hoc so far, will now be recognised as a permanent statutory body.
- It has been formed on a permanent basis following the SC directions in 2002, which was directed to be constituted at national level for monitoring the apex court orders pertaining to forests and wildlife cases.
- However, the new structure announced by the Union government, which omits the non-government members or two members of non-governmental organisations as existed in previous CEC, has irked the experts who alleged the move removes accountability and autonomy of the committee.
- With the ultimate decision remaining with the government, there is no independence and can be used as a tool to override decision making power of the states.
Central Empowered Committee (CEC):
- The Union Environment Ministry has set up a new Central Empowered Committee (CEC) replacing an ad hoc expert panel with the same name which assisted the Supreme Court in matters of forest and environment issues.
- The CEC, initially established by the apex court in 2002, served as a watchdog for issues pertaining to environmental conservation and compliance.
- Over the years, the committee has played a pivotal role in shaping India’s environmental policy and governance landscape.
- Under the revamped structure, the CEC will comprise a chairperson, a member secretary and three expert members, all selected by the union government.
- The chairperson, with a minimum of 25 years of experience in environmental, forestry, or wildlife fields or substantial administrative expertise in government, will serve a maximum term of three years.
- The member secretary must hold a rank not lower than deputy inspector general or director in the government and possess at least 12 years of experience in environmental, forestry or wildlife matters. The three expert members, one each from environment, forest, and wildlife sectors, should have a minimum of 20 years of expertise.
Concerns:
- Critics have voiced concerns that this change concentrates excessive power within the government. Previously, the CEC comprised members nominated by the environment ministry and two NGOs selected in consultation with the amicus curiae, offering a more balanced approach.
- As per the new structure, the committee will include three expert members, who are civil servants appointed by the Union Ministry of Environment Forest and Climate Change (MoEFCC). Earlier, the expert members constituted non-governmental appointments.
- In addition to the revised structure, clause 3 of the notification states the Centre has retained the ultimate decision making authority. As per the notification: “In case any suggestion or recommendation of the Central Empowered Committee, not acceptable to the state or central government, the government shall give reasons in writing for not accepting the same and such decision of the central government shall be final.”
5. HORIZON PROJECT AND COPERNICUS PROGRAMME
TAG: GS 3: SCIENCE AND TECHNOLOGY
CONTEXT: Recently, Britain agreed to join the European Union’s flagship Horizon science research programme and its Copernicus earth observation programme.
EXPLANATION:
Horizon Europe
- Horizon Europe is the EU’s key funding programme for scientific research and innovation with a budget of 95.5 billion euros ($102.3 billion).
- It is a 7-year European Union scientific research initiative, successor of the Horizon 2020 programme and the earlier Framework Programmes for Research and Technological Development.
- The European Commission drafted and approved a plan for Horizon Europe to raise EU science spending levels by 50% over the years 2021–2027.
- It has five main missions: Adapting to climate change, making climate neutral cities, combating cancer, and restoring oceans and soil.
- Britain’s government said a new automatic clawback mechanism “means the UK will be compensated as UK scientists receive significantly less money than the UK puts into the programme”.
Euratom Research and Training programme
- The EU describes the Euratom Research and Training programme as a “complementary funding programme to Horizon Europe” covering nuclear research and innovation, using the same instruments and participation rules.
- Britain will not associate with Euratom, as “in line with the preferences of the UK fusion sector, the UK has decided to pursue a domestic fusion energy strategy instead.
Copernicus Programme
- Copernicus, previously known as GMES (Global Monitoring for Environment and Security), is the Earth observation component of the EU’S Space programme.
- It gathers data from satellites and other measurement systems to examine the changing climate, shifts in land use, information on oceans and atmospheric conditions such as air quality.
- Britain said the association would give its earth observation sector access to data that could help with early flood and fire warnings, and the ability to bid for contracts they had been shut out of for three years.
