6.1. Background

• Before SEBI came into existence, the Controller of Capital Issues was the regulatory authority; it derived authority from the Capital Issues (Control) Act, of 1947.
• In April 1988 the SEBI was constituted as the regulator of capital markets in India under a resolution of the Government of India.
• Initially SEBI was a non-statutory body without any statutory power.
• It became autonomous and given statutory powers by SEBI Act 1992.

6.2. Structure of SEBI

• SEBI Board consists of a Chairman and several other whole-time and part-time members.
• SEBI also appoints various committees, whenever required to look into the pressing issues of that time.
• Further, a Securities Appellate Tribunal (SAT) has been constituted to protect the interest of entities that feel aggrieved by SEBI’s decision.
• SAT consists of a Presiding Officer and two other
• It has the same powers as vested in a civil court. Further, if any person feels aggrieved by SAT’s decision or order can appeal to the Supreme Court.

6.3. Aims associated with SEBI

• To protect the interests of investors in securities and to promote the development of, and regulate the securities market.
• It is the regulator of the securities and commodity market in India owned by the Government of India.

6.4. Functions

• SEBI is primarily set up to protect the interests of investors in the securities market.
• It promotes the development of the securities market and regulates the business.
• SEBI provides a platform for stockbrokers, sub-brokers, portfolio managers, investment advisers, share transfer agents, bankers, merchant bankers, trustees of trust deeds, registrars, underwriters, and other associated people to register and regulate work.
• It regulates the operations of depositories, participants, custodians of securities, foreign portfolio investors, and credit rating agencies.
• It prohibits insider trading, i.e. fraudulent and unfair trade practices related to the securities market.
• It ensures that investors are educated on the intermediaries of securities markets.
• It monitors substantial acquisitions of shares and take-over of companies.
• SEBI takes care of research and development to ensure the securities market is efficient at all times.

6.5. Powers of SEBI

• Quasi-Judicial: SEBI has the authority to deliver judgements related to fraud and other unethical practices in terms of the securities market. This helps to ensure fairness, transparency, and accountability in the securities market. 
• Quasi-Executive: SEBI is empowered to implement the regulations and judgements made and to take legal action against the violators. It is also authorized to inspect Books of accounts and other documents if it comes across any violation of the regulations. 
• Quasi-Legislative: SEBI reserves the right to frame rules and regulations to protect the interests of the investors. Some of its regulations consist of insider trading regulations, listing obligations, and disclosure requirements. These have been formulated to keep malpractices at bay. Despite the powers, the results of SEBI’s functions still have to go through the Securities Appellate Tribunal and the Supreme Court of India.

6.6. Other Powers and Functions of SEBI

• SEBI is a quasi-legislative and quasi-judicial body which can draft regulations, conduct inquiries, pass rulings and impose penalties.
• It functions to fulfil the requirements of three categories –
• Issuers – By providing a marketplace in which the issuers can increase their finance.
• Investors – By ensuring the safety and supply of precise and accurate information.
• Intermediaries – By enabling a competitive professional market for intermediaries.
• By Securities Laws (Amendment) Act, 2014, SEBI is now able to regulate any money pooling scheme worth Rs. 100 cr. or more and attach assets in cases of non-compliance.
• SEBI Chairman has the authority to order “search and seizure operations”. SEBI board can also seek information, such as telephone call data records, from any persons or entities concerning any securities transaction being investigated by it.
• SEBI perform the function of registration and regulation of the working of venture capital funds and collective investment schemes including mutual funds.
• It also works for promoting and regulating self-regulatory organizations and prohibiting fraudulent and unfair trade practices relating to securities markets.

ECO SENSITIVE ZONE(ESZ)

1.Context

Citing national interest, the Assam wildlife department has recommended to the Centre that forest clearance be granted to a Cairn Oil and Gas proposal for oil and gas exploration in the eco-sensitive zone (ESZ) of the Hollongapar Gibbon wildlife sanctuary, home to the endangered Hoolock Gibbon and wild elephants, official records show.

2. Eco-Sensitive Zone

• As per the National Wildlife Action Plan (2002-2016), issued by the Union Ministry of Environment, Forest and Climate Change, land within 10 km of the boundaries of national parks and wildlife sanctuaries is to be notified as eco-fragile zones or Eco-Sensitive Zones (ESZ).
• While the 10-km rule is implemented as a general principle, the extent of its application can vary. 
• Areas beyond 10 km can also be notified by the Union government as ESZs, if they hold larger ecologically important “sensitive corridors.”

1.1 Eco-Sensitive Zone (ESZ)

• The Eco-Sensitive Zone (ESZ) are areas in India notified by the Ministry of Environment, Forest and Climate Change (MoEFCC), GoI around Protected Areas, National Park and Wildlife sanctuaries. 

• Purpose: 

• To create some kind of "shock absorbers" to the protected areas by regulating and managing the activities around such areas. 
• Therefore, these areas act as a buffer for protected areas and reduce developmental pressures around a wildlife sanctuary or national park.
• They also act as a transition zone from areas of high protection to areas involving lesser protection.

• Range:

• All identified areas around Protected Areas and wildlife corridors to be declared as ecologically fragile under the Environment (Protection) Act, 1986 (National Wildlife Action Plan, 2002-2016).
• Eco-sensitive Zone could go up to 10 Kms around Protected Areas. 
• In cases where sensitive corridors, connectivity and ecologically important patches, crucial for landscape linkage, are even beyond 10 Kms width. 
• Further, Eco-sensitive zones may not be uniform all around and they could be variable in width and extent.

• Prohibited activities: 

• Activities like industries which cause pollution Commercial mining, sawmills, the establishment of major hydroelectric projects (HEP), commercial use of wood, Tourism, discharge of effluents or any solid waste or production of hazardous substances are all prohibited.

• Regulated activities:

• Activities like the felling of trees, establishment of hotels and resorts, commercial use of natural water, erection of electrical cables, drastic change of agriculture system, e.g. adoption of heavy technology, pesticides etc., widening of roads.

• Permitted activities:

• Activities like ongoing agricultural or horticultural practices, rainwater harvesting, organic farming, use of renewable energy sources, and adoption of green technology for all activities are permitted.

3. Reasons for the creation of an ecologically sensitive zone

• According to the guidelines issued by the Environment Ministry on February 9, 2011, ESZs are created as “shock absorbers” for the protected areas, to minimize the negative impact on the “fragile ecosystems” by certain human activities taking place nearby. Furthermore, these areas are meant to act as a transition zone from areas requiring higher protection to those requiring lesser protection.
• The guidelines also state that the ESZs are not meant to hamper the daily activities of people living in the vicinity, but are meant to guard the protected areas and “refine the environment around them”.
• To do so, the guidelines list the activities prohibited in an ESZ, such as commercial mining, saw mills, commercial use of wood, etc., apart from regulated activities like the felling of trees. Lastly, there are permitted activities like ongoing agricultural or horticultural practices, rainwater harvesting, and organic farming, among others.

Judgement of Supreme Court

• On June 3, a three-judge bench of the Supreme Court heard a PIL which sought to protect forest lands in the Nilgiris in Tamil Nadu, but was later expanded to cover the entire country.
• In its judgment, the court while referring to the 2011 guidelines as “reasonable”, as reported by Live Law, directed all states to have a mandatory 1-km ESZ from the demarcated boundaries of every protected forest land, national park and wildlife sanctuary.
• It also stated that no new permanent structure or mining will be permitted within the ESZ.
• If the existing ESZ goes beyond a 1-km buffer zone or if any statutory instrument prescribes a higher limit, then such extended boundary shall prevail, the court, as per the Live Law report, said.

4. Protests by the people

• Protests erupted across the high ranges of Kerala in response to the apex court’s directions. Due to the high density of human population near the notified protected areas, farmer’s groups and political parties have been demanding that all human settlements be exempt from the ESZ ruling.
• Alex Ozhukayil, the chairman of Kerala Independent Farmers’ Association (KIFA) claimed that the court’s decision would severely impact the livelihoods of farmers.
• He said, “The total extent of the wildlife sanctuaries in Kerala is eight lakh acres. If one km of ESZ is demarcated from their boundaries, around 4 lakh acres of human settlements, including farmlands, would come within that purview. This is a matter of sheer survival of lakhs of people.”
• The ruling Left Democratic Front and the Congress-led United Democratic Fund have both called for strikes in Idukki and Wayanad districts over the past weeks to oppose the 1-km order.
• Before the SC judgment, the Kerala state government had stated during an expert committee meeting of the Union Environment Ministry in March that all human settlements should be excluded from the buffer zones.
• The Kerala state government had proposed that for some national parks, such as the Thattekad Bird Sanctuary, the extent of the ESZ area should be reduced from the proposed uniform 1 km to an ESZ ranging from zero to 1 km in the eastern and south-eastern side of the national park.
• This was because the villagers occupying the densely populated settlements in these areas believed that the ESZ would restrict their agricultural and related activities.

4. Other similar challenges

• Developmental activities:

• Activities such as the construction of dams, roads, and urban and rural infrastructures in the ESZ, create interference, negatively impact the environment and imbalance the ecological system. 

• Blatant violations:

• To cater to the increasing demand for eco-tourism, the land around parks and sanctuaries are being cleared through deforestation, displacement of local people etc. 
• Failing to recognize the rights of forest communities and curbing poaching of animals, environmental legislations undermine the ESZs in favour of developmental activities. 

• Climate change:

• Biodiversity and climate change are interconnected, for example, the rise in global temperature has generated land, water and ecological stress on the ESZs. 

• Tourism-related Pollution:

• As the pressure of tourism is rising, the government is developing new sites and gateways to the ESZ. The tourists leave behind garbage such as plastic bags and bottles etc. which leads to environmental degradation.

• Local communities:

• Slash and burn techniques used in agriculture, the pressure of increasing population and the rising demand for firewood and forest produce, etc. exerts pressure on the protected areas.

5. Earlier protests 

• This is not the first time that Kerala has faced such protests. 
• In 2013, hartals first erupted in Idukki and Wayanad after the Kasturirangan committee report recommended that 60,000 km of the Western Ghats, covering 12 of Kerala’s 14 districts, be notified as ecologically sensitive areas.

GAGANYAAN

1. Context 

Before launching astronauts on the Gaganyaan mission next year, the Indian Space Research Organisation (ISRO) will send a humanoid robot, Vyommitra, into space to test spacecraft safety.

2. Gaganyaan Mission

• Gaganyaan, meaning "Sky Craft" in Sanskrit, is India's ambitious human spaceflight program aimed at sending Indian astronauts to space.
• It is a testament to India's growing prowess in the field of space exploration and a source of immense national pride.
• The program, spearheaded by the Indian Space Research Organisation (ISRO), envisions launching a crewed orbital spacecraft into low Earth orbit (LEO) for a period of up to seven days.
• The spacecraft will carry three astronauts, marking a historic first for India.

3. About The TV-D1 Mission

• The TV-D1 mission consists of two abort missions designed to test the safety mechanisms that will allow the Gaganyaan crew to escape the spacecraft during emergencies.
• In this mission, a rocket will ascend to an altitude of nearly 17 km before an abort signal triggers the separation of the crew module.
• The crew module will then descend using a parachute for a splashdown in the Bay of Bengal.
• The TV-D1 mission will have a total duration of 532 seconds, from liftoff at 8 a.m. to the crew module's splashdown about 10 km from the Sriharikota coast.
• The rocket used for this mission is ISRO's low-cost Test Vehicle, designed specifically for system testing.
• During the flight, the rocket will reach a peak relative velocity of 363 meters per second, approximately 1307 km per hour. It's important to note that the crew module will be empty for this test.

4. Key Objectives of the TV-D1 Mission

The TV-D1 mission serves two primary objectives.

1. It aims to demonstrate the capabilities of the new Test Vehicle, hence its name Test Vehicle-Demonstration 1 (TV-D1).
2. It will showcase a basic version of the crew module, testing the systems responsible for separating the crew module from the rocket during an abort mission and ensuring the safe escape of astronauts.

The TV-D1 mission simulates an abort condition during the ascent trajectory, corresponding to a Mach number of 1.2, as anticipated in the Gaganyaan mission.

5. The Low-Cost Test Vehicle

• Unlike the upcoming full-fledged test flight of the crew module into space and back, which will use the human-rated LVM3 rocket in 2024, the TV-D1 mission employs a low-cost basic rocket.
• This Test Vehicle utilizes existing liquid propulsion technology but introduces innovations such as the throttleable and restartable L110 Vikas engine, capable of controlling propellant use.
• ISRO developed this cost-effective solution as each GSLV Mk III launch, which was previously used for such missions, costs between Rs 300-400 crore.

6. Safety and Crew Escape System

• Safety remains a top priority for ISRO in the Gaganyaan project, especially in light of international incidents involving space missions.
• The TV-D1 mission aims to test the systems ensuring the crew module's safety, such as environmental control, life support systems, and an integrated vehicle health management system.
• This system can detect anomalies that may jeopardize astronauts' safety and initiate mission abort procedures.

7. Preparations and Timeline for Gaganyaan

• ISRO has set a target timeframe for the Gaganyaan mission in 2024, with flexibility based on the development stages and ensuring the mission's safety.
• The schedule includes an unmanned mission at the beginning of the next year, abort missions this year, and discussions of the manned mission for late 2024 or early 2025.
• ISRO has completed the human rating of the LVM 3 rocket and performed static tests for human-rated solid rocket boosters.

8. Conclusion

The TV-D1 mission represents a significant milestone in the Gaganyaan program, as it integrates a near-complete system for a flight test. The success of this mission paved the way for further qualification tests and unmanned missions, ultimately leading to the first Gaganyaan mission with Indian astronauts. ISRO's dedication to safety and rigorous testing is paramount as India advances its space exploration endeavours.

 

For Prelims: Gaganyaan programme, TV-D1 mission, Low Earth Orbit, Isro, LVM3, GSLV Mk III,  For Mains:  1. Discuss the key objectives of the TV-D1 mission within the Gaganyaan program. How does this mission contribute to astronaut safety and the overall success of Gaganyaan? (250 Words)

 

 

Previous Year Questions   1. With reference to India's satellite launch vehicles, consider the following statements: (UPSC 2018) 1. PSLVs launch satellites useful for Earth resources monitoring whereas GSLVs are designed mainly to launch communication satellites. 2. Satellites launched by PSLV appear to remain permanently fixed in the same position in the sky, as viewed from a particular location on Earth. 3. GSLV Mk III is a four-stage launch vehicle with the first and third stages using solid rocket motors; and the second and fourth stages using liquid rocket engines. Which of the statements given above is/are correct? A. 1 only B. 2 and 3 C. 1 and 2 D. 3 only Answer: A   2. India's first human space mission "Gaganyaan" will be launched in which year? (ESIC UDC 2022) A. 2022          B. 2023          C. 2024          D. 2025      E.  2026   Answer: B   3. Find the incorrect statements, about the Gaganyaan Mission of India. (MPSC 2020) 1. Four pilots from Indian Air Force were shortlisted to be astronauts of Gaganyaan. 2. They will be trained at Yuri Gagarin Cosmonaut Centre in Russia. 3. This mission was announced by Prime Minister in 2014. 4. It is scheduled for 2022 with a team of 5 crew members and a month-long stay in space. A. 1, 2, 3, 4     B.  2, 3, 4           C. 3, 4          D. 2, 3   Answer: C   4. ISRO is related to: (SSC JE EE 2020) A. space research      B. agricultural research          C. seed research          D. marine research Answer: A   5.  Which of the following pairs is/are correctly matched? (UPSC 2014) Spacecraft                                    Purpose Cassini-Huygens:                  Orbiting the Venus and transmitting data to the Earth Messenger:                             Mapping and investigating the Mercury Voyager 1 and 2:                    Exploring the outer solar system Select the correct answer using the code given below: (a) 1 only         (b) 2 and 3 only          (c) 1 and 3 only          (d) 1, 2 and 3 Answer: B 6. Consider the following statements: (UPSC 2016) The Mangalyaan launched by ISRO 1. is also called the Mars Orbiter Mission 2. made India the second country to have a spacecraft orbit the Mars after USA 3. made India the only country to be successful in making its spacecraft orbit the Mars in its very first attempt Which of the statements given above is/are correct? (a) 1 only        (b) 2 and 3 only          (c) 1 and 3 only            (d) 1, 2 and 3 Answer: C

Source: The Indian Express

 

POLIOVIRUS

1. Context 

The West Bengal government announced that it was introducing an additional dose of injectable polio vaccine as part of the Universal Immunisation Programme (UIP) for Children.

 

2. About Polio

• Poliovirus can invade the central nervous system and as it multiplies, destroy the nerve cells that activate muscles, causing irreversible paralysis in hours.
• There are three types of poliovirus serotypes: types 1, 2 and 3.
• According to the India Polio Learning Exchange (along with UNICEF), of those paralysed, 5-10 per cent die when their breathing muscles become immobilised.
• There is no cure for polio, but there are safe, effective vaccines which, given multiple times, protect a child for life.
• Polio held the world in a bind of fear until Jonas Salk developed the first polio vaccine.
• Later, Albert Sabin made a "live" polio vaccine that could be administered orally which became a tool of trade, especially for nations carrying out mass immunisation campaigns, including India.

Image source: American Museum of Natural history

3. India's achievement of polio-free status

• In 2012, the WHO removed India from the list of endemic countries.
• Seen as a massive achievement in public health, the campaign had begun years ago.
• While Rotary International launched its polio eradication campaign, Polio Plus, in 1985, it was in 1986 that it provided a $2.6 million grant to Tamil Nadu for a pilot polio vaccination campaign.
• In 1995, the Union government announced the first National Polio Immunisation Day.
• As per the India Polio Learning Exchange portal, the last case of poliovirus type 2 case was recorded in India in October 1999 at Aligarh, Uttar Pradesh;
• The last case of poliovirus type 3 case was on October 22, 2010, in Pakur, Jharkhand; and
• The last case of poliovirus type 1 the case was recorded on January 13, 2011, at Howrah, West Bengal.

As of October 2022, the WHO said only two countries worldwide remain with the indigenous transmission of wild Poliovirus type 1 (WPV1) Afghanistan and Pakistan. It also recorded that so far, 33 countries have outbreaks of variant polioviruses, such as the U.K., the U.S., Israel and Malawi.

 

• Unprotected children are at risk of getting the disease. It is important to take the polio vaccine each time it is offered, in special polio campaigns and routine immunisation.
  In the latter, the oral polio vaccine is provided at birth, at six weeks, 10 weeks and at 14 weeks (a booster could be factored in at 16-24 months).
• The injectable vaccine is given at six weeks and then another dose at 14 weeks.
• In addition, West Bengal has now decided to administer a third injectable dose at nine months.

4. Global polio crisis

• Genetic variants of vaccine poliovirus type 2, imported from an unknown source, were detected in wastewater in Jerusalem, London and New York in early 2022.
• The wild poliovirus type 2 was globally eradicated in 1999 but vaccine virus type 2 continued for 16 more years; routine use of the vaccine was discontinued in 2016 and reintroduced occasionally on purpose.
• As an unintended consequence, type 2 vaccine virus variants (circulating vaccine-derived polioviruses) that mimic wild viruses' contagiousness and neurovirulence, have been emerging and spreading.
• The theory of respiratory transmission of polio, as was the classical teaching of polio epidemiology.
• People assume that virus transmission is via the faecal-oral route. Virus transmission cannot be attributed to faecal contamination.

6. The way forward

• The recent events have shown how dramatically and rapidly global progress can unwind if the pressure is not maintained to vaccinate children.
• Some setbacks have been seen, particularly in the area of immunisation post the pandemic. But it is very clear to keep at doing and enhancing measures to ensure this battle is fought all the way through.
• India continues to maintain high population immunity and risk mitigation from polioviruses including containment and transitioning of polio networks will guide revised policy changes to ensure that India remains polio-free.

For Prelims & Mains

For Prelims: Poliovirus, Universal Immunisation Programme, inactivated poliovirus, National Polio Immunisation Day, India Polio Learning Exchange portal, poliovirus type 1, poliovirus type 2, poliovirus type 3, WHO, The theory of respiratory transmission of polio,  For Mains: 1. What is Poliovirus? Explain how did India achieve its polio-free status and discuss the recent global polio crisis. (250 Words)

 

Source: The Hindu