1. Shift in Inflation Goal and Economic Prospects
- Key Figures:
- Michael Debabrata Patra: RBI Deputy Governor who highlighted the widening wedge between headline and food inflation.
- Shaktikanta Das: RBI Governor who discussed the premature nature of considering the natural interest rate equilibrium.
- Main Points:
- Monetary Policy Committee (MPC) Decision:
- The MPC has opted to hold policy rates steady.
- The decision is guided by the goal of aligning inflation durably with the 4% target.
- Inflation Trends:
- Headline Inflation: Overall inflation including all categories.
- Food Inflation: Inflation specifically in food categories, which has been high and persistent.
- Widening Wedge: The gap between headline and food inflation is growing, making it difficult to align headline inflation with the 4% target.
- Food Inflation Persistence:
- Categories Affected: Cereal, pulses, spices, and vegetables.
- Empirical Evidence: Food inflation is taking longer to revert to its trend after a shock, showing increased persistence.
- RBI’s Stance on Interest Rates:
- Natural Interest Rate Equilibrium: The concept is deemed premature for policy decisions while disinflation is ongoing.
- Risks of Policy Easing: Easing based on high real rates may be misleading and not suitable for current economic conditions.
- Policy Implications:
- Focus on Inflation Target: The RBI emphasizes focusing on achieving the 4% inflation target rather than relying on theoretical interest rate models.
Real-World Considerations: Policy decisions should reflect real economic conditions and avoid relying solely on abstract models.
2. NDMA and Glacial Lake Risk Mitigation
CONTEXT: NDMA to monitor 189 high-risk glacial lakes to prevent disasters Lake-lowering measures among proposed steps; National Glacial Lake Outburst Floods Risk Mitigation Programme was approved on July 25
Glacial Lakes Monitoring:
- High-Risk Lakes Identified: 189 glacial lakes
- Total Glacial Lakes in India: Approximately 7,500
- Monitoring Methods: Remote sensing and site visits
Recent Incident:
- South Lhonak Lake Overflow: October 2023
- Impact: Flooding in Sikkim, destruction of Chungthang dam, 40 fatalities
Proposed Measures:
- Lake-Lowering Measures: To reduce overflow risk
- Technical Hazard Assessments: Detailed evaluations of high-risk lakes
- Automated Monitoring Stations: Installation of weather and water level monitoring systems
- Early Warning Systems: For both lakes and downstream areas
Field Activities:
- Expeditions Conducted: 15 expeditions
- Sikkim: 6 expeditions
- Ladakh: 6 expeditions
- Himachal Pradesh: 1 expedition
- Jammu and Kashmir: 2 expeditions
- Recent Teams Sent: Arunachal Pradesh State Disaster Management Authority sent teams to Tawang and Dibang Valley
Monitoring Details:
- Satellite Monitoring: 902 glacial lakes and waterbodies monitored
- Site Visits: Necessary for full impact assessment, challenging due to terrain
Challenges:
- Inhospitable Terrain: Difficulty in site visits due to harsh conditions
Limited Access Period: July to September is the window for expeditions
3. New Crop Data Mechanism
CONTEXT: Centre, States discuss new mechanism for gathering crop data
- Initiative Overview:
- Name: Digital General Crop Estimation Survey (DGCES)
- Objective: Enhance accuracy, reliability, and transparency of agricultural statistics.
- Key Features:
- Technology Integration: Use of remote sensing, geospatial analysis, and artificial intelligence.
- Data Type: Plot-level data with geo-tagged areas of crops.
- Purpose: Accurate crop-area estimation and yield calculation based on scientific crop cutting experiments.
- Recent Developments:
- National Conference: Held to discuss improvements in crop production statistics.
- Focus Areas: Enhancement of agricultural production estimates and technological integration.
- Government Statements:
- Union Agriculture Secretary: Devesh Chaturvedi emphasized continuous collaboration between Union and State governments to improve agricultural statistics.
- Budget Announcement: The initiative for a digital crop survey was announced to aid in accurate crop-area estimation and act as a single source of truth.
- Revamped FASAL:
- Purpose: Forecasting Agricultural Output using Space, Agro-meteorology, and Land-based observations.
- Integration: DGCES aims to improve FASAL’s capabilities with advanced technologies.
- Expected Outcomes:
- Data Accuracy: Near real-time and reliable data directly from the field.
Policy Impact: Enhanced data will support better policy formulation, trade decisions, and agricultural planning.
4. Ongoing Indian Space Missions
- Recent Key Missions:
- Aditya-L1 Mission
- Launch Date: September 2, 2023
- Objective: Study solar radiation from the Earth-Sun Lagrange point (L1).
- Milestones: Entered L1 orbit on January 6, 2024; first orbit completed on July 2, 2024.
- Observations: Studied a solar storm in May 2024.
- Gaganyaan TV-DI Mission
- Test Date: October 21, 2023
- Objective: Demonstrate Crew Escape System (CES) for the Gaganyaan human spaceflight mission.
- Outcome: Successful separation and safety measures; crew module recovered by INS Shakti.
- XPOSat
- Launch Date: January 1, 2024
- Objective: Study X-ray polarization from celestial objects.
- Instruments: XSPECT and POLIX began operations in January 2024.
- INSAT-3DS
- Launch Date: February 17, 2024
- Objective: Meteorological observations; validated GSLV for future missions.
- RLV-TD (Reusable Launch Vehicle-Technology Demonstrator)
- Tests: LEX-C2 and LEX-03 on March 22 and June 7, 2024.
- Objective: Simulate landing conditions and enhance landing technology.
- SSLV (Small Satellite Launch Vehicle)
- Launch Date: August 16, 2024
- Objective: Place EOS-08 and SR-O Demosat satellites in orbit; development complete.
- Upcoming and Planned Initiatives:
- Gaganyaan Mission
- Uncrewed Flight: Expected late 2024.
- Crewed Flight: Scheduled for 2025; includes advanced astronaut training and multiple abort tests.
- Long-Term Goals: Indian space station (Bharatiya Antariksh Station) by 2035.
- Next Generation Launch Vehicle (NGLV)
- Objective: Deliver heavier payloads; three-stage vehicle with semi-cryogenic and cryogenic engines.
- Current Status: Project report submitted; PSLV and GSLV to be phased out.
- NSIL and Private Sector Developments:
- NewSpace India Ltd (NSIL):
- Responsibilities: Manage commercial missions and satellite data.
- Partnerships: Agreement with SpaceX for GSAT-20 GSAT-N2; production of LVM-3.
- Private Companies:
- Agnikul Cosmos: Launched SORTED OI vehicle with semi-cryogenic engine.
- Skyroot Aerospace: Progressing with Vikram 1 rocket and recent test vehicle launch.
- Dhruva Space and Bellatrix Aerospace: Conducted experiments on PSLV-C58 mission.
- Policy and Regulation Updates:
- IN-SPACE Guidelines:
- Release Date: May 3, 2023
- First Licenses: Eutelsat OneWeb for satellite broadband; Dhruva Space for ground station.
FDI Policy: Amended for 100% FDI in most space segments; specific ceilings for satellite manufacturing and launch infrastructure.
5. Chandrayaan 3: Key Findings and Implications
1. Overview of Findings | · Date of Release: August 22, 2024 · Publication: Nature · Instrument Used: Alpha Particle X-ray Spectrometer (APXS) · Location: Moon’s southern latitudes
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2. Key Discoveries:
| · Uniform Terrain: The lunar surface around the landing site is relatively uniform. · Stratified Crust Formation: Supports the Lunar Magma Ocean (LMO) hypothesis, suggesting that the Moon’s crust formed layer by layer from a primordial magma ocean. · Mineral Composition: The topsoil has an unexpectedly high concentration of minerals typical of the Moon’s lower crust.
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3. Lunar Magma Ocean Hypothesis:
| · Formation: The Moon was formed from a magma ocean shortly after a large asteroid collided with Earth around 4.5 billion years ago. · Crust Formation: o Heavier Minerals: Olivine and pyroxene sank to form the lower crust. o Lighter Minerals: Calcium- and sodium-rich minerals floated to form the upper crust. · APXS Findings: Support stratified crust formation models, indicating that about 80-90% of the upper crust is iron, magnesium, and sodium-rich rocks.
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4. Evidence of Crust Mixing:
| · Impact Hypothesis: The asteroid impact that created the South Pole-Aitken (SPA) Basin may have mixed different crustal layers. · SPA Basin: o Dimensions: Approx. 2,500 km in diameter and 6.2-8.2 km deep. o Formation: Estimated 4.2-4.3 billion years ago. o Effect: Likely excavated magnesium-rich material from deeper layers.
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5. Significance of Findings:
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Historical Context: Offers ground truth data for lunar highlands, which could be crucial for understanding the Moon’s formation and evolution |
6. Impact on Future Missions:
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