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GS Paper: GS3

  • A quiet move that has kept Dehradun’s vultures safe

    Why in the News

    Relocating a livestock carcass dump 2.4 km away from high-tension power infrastructure near Dehradun in Uttarakhand appears to have ended vulture deaths at the site. The finding comes from a decade-old study published in the latest issue of the Journal of Threatened Taxa, which documented electrocution mortality at Sudhauwala before the move. Electrocution from power infrastructure is the most under-reported of the threats to vultures, a group already among the most threatened birds globally after severe population declines across Asia and Africa. The case sets a low cost siting decision against a threat that conservation policy has so far organised itself around drugs and poisoning to address.

    What did the Sudhauwala surveys record?

    1. The survey base: The study rests on 34 surveys conducted between May 2011 and February 2014 in the Sudhauwala region of Dehradun.
    2. The population observed: It recorded 743 individual vultures belonging to five species.
    3. The mortality count: 46 vulture carcasses attributable to electrocution were documented in proximity to high-tension power transmission structures.
    4. Which species paid most: The highest proportion of mortality relative to observations was recorded for the Himalayan griffon (Gyps himalayensis), followed by the Eurasian griffon (Gyps fulvus) and the cinereous vulture (Aegypius monachus).

    Why has electrocution stayed off the vulture conservation agenda?

    1. The recognised threat list excludes it: Poisoning, veterinary non-steroidal anti-inflammatory drugs (NSAIDs), food scarcity and habitat loss are the survival challenges vulture policy in India is built around.
    2. The under-reporting is the point: Electrocution from power infrastructure has been the most under-reported threat, so it does not enter the mitigation measures those policies fund.
    3. Siting concentrates the risk: A carcass dump placed near high-tension transmission structures draws large soaring scavengers directly into a hazard they do not otherwise encounter.

    What changed after the dump was moved?

    1. The intervention: Local authorities relocated the carcass dumping site about 2.4 km away from the high-risk electricity infrastructure in April 2015.
    2. The birds still came: Subsequent observations indicated continued use of the new site by vultures, so the food source was not lost in the process.
    3. The deaths stopped: No mortality events were recorded during the limited post-relocation monitoring.
    4. Other raptors followed: The black kite (Milvus migrans) and the crested serpent eagle (Spilornis cheela) were also recorded at the relocated site.

    How far does the evidence carry?

    1. The surveys were not systematic: The authors state the surveys were conducted on a non-systematic basis, which limits how far the counts can be generalised.
    2. The signal survives the caveat: The number of mortality events observed still suggests electrocution may represent a significant localised threat, particularly for long-lived scavengers such as vultures.
    3. The follow-up stopped: No studies have been conducted at the site after 2015, so the post-relocation result rests on limited monitoring rather than sustained observation.
    4. The measure is portable: Relocating carcass dumping sites away from hazardous power infrastructure is offered as a practical conservation measure that could be applied in other affected areas.

    Conclusion

    A single siting decision, moving a carcass dump away from transmission lines, removed a mortality source that no drug ban or breeding programme would have touched. The result stands on limited post-relocation monitoring and on surveys the authors themselves describe as non-systematic. No further study has been done at the site since 2015. The open question is whether carcass dump siting relative to transmission corridors is audited elsewhere in India, since the measure costs almost nothing and the threat it addresses is not currently counted.

    Back2Basics: Himalayan Griffon (Gyps himalayensis)

    1. What it is: One of the largest Old World vultures, a carrion feeding scavenger dependent on livestock and wild ungulate carcasses.
    2. Range and habitat: It breeds on cliffs across the Himalaya and the Tibetan Plateau at high elevations, and descends to lower hills and adjoining plains in winter.
    3. Conservation status: Listed as Near Threatened on the International Union for Conservation of Nature (IUCN) Red List, and in Appendix II of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
    4. Why status differs within the genus: Its high altitude range kept it away from the veterinary drug residues in plains livestock that pushed the resident Gyps vultures of the plains into the Critically Endangered category.

    Matching Previous Year Question

    “[2012] Vultures which used to be very common in Indian countryside some years ago are rarely seen nowadays. This is attributed to: (a) the destruction of their nesting sites by new invasive species disease among them (b) a drug used by cattle owners for treating their diseased cattle persistent and fatal (c) scarcity of food available to them (d) a widespread, persistent and fatal disease among them ANSWER: (b)”

  • Blaming climate change for extreme weather has limits

    Why in the News

    World Weather Attribution (WWA), an international research group that assesses the influence of climate change on extreme weather, has found that this year’s intense South Asian heatwave was made about three times likelier and up to 1 degree C warmer by climate change. The finding rests on extreme event attribution, a method that reruns climate models for a world without human emissions and reads the difference. Specialists have questioned how far that method can be pushed. The confidence it delivers for a multi-day heatwave collapses for a one hour cloudburst, and claims of legal liability for emissions rest on the stronger reading.

    How does extreme event attribution work?

    1. What it sets out to do: It traces the human fingerprint in a specific extreme weather event rather than in the climate record as a whole.
    2. Detection comes first: Detection establishes whether an event falls outside the range of its normal occurrence given natural variation in the climate system.
    3. The counterfactual run: Climate models are simulated first for a pre-industrial world with carbon dioxide at 280 parts per million (ppm), then for present day conditions above 420 ppm.
    4. Attribution reads the gap: The difference in the magnitude or the likelihood of the event between the two runs is assigned to human influence, and many simulations with rigorous statistical tests are required to rule out chance.

    Why is confidence higher for heatwaves than for local downpours?

    1. Long events sit inside model resolution: A day-long heatwave or several days of heavy rain unfolds slowly enough for a global climate model to represent it.
    2. Short bursts do not: Intense bursts of rain lasting an hour or so are harder to model and to link to climate change, because most global climate models cannot capture fast-changing processes.
    3. The resolution gap is documented: The Sixth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC) notes that local phenomena such as land-sea breezes and mountain wind systems can only be realistically represented at a simulation resolution of around 10 km or less, which current models do not support.

    What data and computing limits hold the science back?

    1. The observational record is too short: Analysis of localised events is hampered by limited long-term weather records.
    2. Natural variability cannot be bounded without them: Without long-term hourly or sub-hourly rainfall observations for a particular place, the range of natural variability for a heavy rainfall event there cannot be marked out with confidence.
    3. Computing power is the second constraint: Insufficient computing power restricts how finely and how often localised events can be simulated.
    4. The consequence is overreach: Uncertainties arising from observations and from models lead to unscientific claims and sweeping generalisations.

    Why can scientists not agree on what counts as extreme?

    1. The baseline decides the verdict: An event that appears extreme against a 10 to 20 year timeline may not look exceptional when analysed against a dataset spanning 500 years.
    2. Long reconstructions change the picture: A reconstruction of droughts over roughly 1,200 years found that some kinds of drought seen in the past no longer occur at all.
    3. No agreed threshold exists: Scientists are not agreed on what amounts to extreme, so the same event can be classified differently by two competent groups.

    How strong is the scientific objection to single event attribution?

    1. The possibility itself is contested: At a 2025 committee hearing at the U.S. National Academies of Sciences, Engineering and Medicine (NASEM), a Stanford University climate scientist questioned whether single event attribution is even possible at all from a scientific point of view.
    2. The counterfactual cannot be validated: A former United Nations and United Kingdom government scientist has asked how it can be known that a climate model accurately represents a climate no one has ever observed.
    3. The difficulty is conceded by the panel: NASEM experts have previously noted that it is challenging to ascertain the influence of climate change on extreme weather.
    4. Extremes predate emissions: Extreme weather events can occur even without anthropogenic climate change, so the presence of an extreme is not itself evidence of a human cause.

    What rides on the answer, and what is the alternative?

    1. The liability is pursued at two levels: Claims are brought both against countries and against individual corporations, which are two different evidentiary burdens.
    2. The carbon majors claim: Studies claim that carbon majors, meaning businesses with particularly high emissions, can be defined and that specific climate changes can be attributed to specific organisations.
    3. The court is the real test: The open question is whether such findings hold up in court, and climate models will never be perfect enough for counterfactual worlds to be accepted without challenge.
    4. The competing priority: Developing more effective early warning systems and adaptation infrastructure saves more lives than establishing who is responsible.

    Conclusion

    Extreme event attribution is strongest exactly where it is least contested, on slow, large scale events such as heatwaves, and weakest on the short, localised events that cause most sudden loss of life. That asymmetry matters because liability claims are being built on the method as a whole rather than on the events it handles well. Sparse long-term records, limited computing power and an unsettled definition of extreme all remain unresolved. Until they are, preparedness through early warning and adaptation infrastructure delivers more than attribution can.

    Back2Basics: World Weather Attribution

    1. What it is: An international collaboration of climate scientists that assesses whether and how far climate change influenced a specific extreme weather event.
    2. When it began: It was set up in 2014, and is led from the Grantham Institute at Imperial College London.
    3. What makes it distinctive: It publishes rapid analyses within days or weeks of an event, against conventional studies that take months to years.

    Matching Previous Year Question

    “[2020] Which one of the following statements best describes the term ‘Social Cost of Carbon’? It is a measure, in monetary value, of the (a) long-term damage done by a tonne of CO2, emissions in a given year. (b) requirement of fossil fuels for a country to provide goods and services to its citizens, (c) efforts put in by a climate refugee to adapt to live in a new place. (d) contribution of an individual person to the carbon footprint on the planet Earth. ANSWER: (a)”

  • Let the Western Ghats breathe

    Why in the News

    The Rs 10,000 crore, 2,000 MW Sharavathi Pumped Storage Project in Karnataka is under an interim stay by the Karnataka High Court, with work frozen until further orders. The project sits entirely inside the Sharavathi Valley Lion-Tailed Macaque Wildlife Sanctuary. An expert panel constituted by the Standing Committee of the National Board for Wildlife (NBWL) had earlier recommended against approving it. The contest is between a state that needs storage to absorb intermittent renewable power and a protected rainforest where such construction is barred outright.

    How does the Sharavathi Pumped Storage Project work?

    1. What it connects: The project links the Talakalale and Gerusoppa reservoirs on the already heavily dammed Sharavathi river.
    2. What has to be built: The link runs through massive underground tunnels and powerhouses cut into the valley.
    3. The pumping cycle: Water is pumped uphill during off-peak hours, when demand and power prices are low.
    4. The generating cycle: The stored water is released downhill to generate power during peak demand.

    Why do the Western Ghats matter beyond their species counts?

    1. Scale of the chain: The Western Ghats run 1,600 kilometres along the edge of the peninsula.
    2. Global standing: They are one of the world’s eight hottest biodiversity hotspots.
    3. What they hold: They harbour nearly half of India’s flowering plant species, a third of its vertebrate fauna, and over 300 globally threatened species.
    4. Narrow endemics: Species such as the Katlekan Marsh Nut and the Gund Day Gecko are found only in these forests and nowhere else.
    5. What primary forest looks like: In the Katlekan dark forest of North Kanara the canopy cuts out light so completely that a torch is needed at midday, a structure the fragmented woodlots counted as forest elsewhere do not reproduce.

    What do the Ghats do for the peninsula’s water and climate?

    1. First contact with the monsoon: The chain takes the first impact of the southwest monsoon and releases it downstream.
    2. Source of the Deccan’s rivers: The Godavari, Krishna, Kaveri and Tungabhadra all originate here, sustaining hundreds of millions of people across six states.
    3. Regional climate function: The dense forests temper regional climate, draw down carbon, hold soil in place, and soften the runoff and flooding that would otherwise reach the downstream plains.
    4. A moisture recycling system: Like the Amazon basin, these rainforests cycle moisture back into the atmosphere, which sustains the monsoon that feeds them.

    Why did the wildlife expert panel advise against approval?

    1. The siting is barred by law: The project lies wholly within a wildlife sanctuary that carries one of the highest levels of protection under the Wildlife (Protection) Act, 1972, where such infrastructure is strictly prohibited.
    2. The panel’s finding: The expert panel constituted by the NBWL Standing Committee recommended against approval, citing irreversible ecological harm.
    3. The technical objection: The panel questioned the project’s technical justification and found it would yield no new net energy to the grid.
    4. A net energy loss: Pumping requirements would produce a net loss of approximately 500 MW.

    What are the physical costs of building inside the sanctuary?

    1. Primary forest cleared: The project requires clearing over 50 hectares of dense primary evergreen forest.
    2. Corridors broken: The clearance fragments wildlife corridors between the Anshi-Dandeli and Bhadra-Kudremukh landscapes, cutting the routes large mammals use to move between the two.
    3. Landslide risk: The zone is geologically fragile, and blasting for underground tunnels and powerhouses with heavy industrial explosives raises the risk of slope failure.

    Does rejecting the project leave Karnataka’s storage need unanswered?

    1. The need is real and conceded: Karnataka has an installed renewable energy capacity of 20.23 GW, and critics of the project accept that this output has to be firmed up.
    2. Why storage is the constraint: Solar and wind generation is intermittent, so the grid needs a way to shift surplus power to hours of peak demand.
    3. The options are plural, not singular: Battery Energy Storage Systems, compressed air energy storage and gravity energy storage sit alongside pumped storage as ways to manage that intermittency.
    4. The siting question is separable from the technology question: Accepting the need for storage does not settle where a storage project may be built.

    Conclusion

    The argument is not that pumped storage is wrong, it is that this catchment is the wrong place to put it. A project that yields no new net energy and consumes more power than it returns cannot justify clearing primary evergreen forest. The Karnataka High Court’s interim stay holds the position for now. What remains unresolved is whether the clearance system will treat the highest protection category as an absolute siting bar or as a threshold that can be crossed on a case by case finding.

    What is Environmental Impact Assessment?

    1. About: Environmental Impact Assessment (EIA) is a planning tool that predicts and seeks to mitigate the environmental consequences of a project before it is approved.
    2. Statutory history: India introduced EIA in 1978 for river valley projects, made it statutory through the 1994 notification under the Environment (Protection) Act, 1986, and consolidated it in the EIA Notification, 2006.
    3. Who appraises what: Category A projects are appraised centrally by the Ministry of Environment, Forest and Climate Change, and Category B projects by the State Environment Impact Assessment Authority, with Category B1 alone requiring a full study and a public hearing.

    Challenges in Environmental Impact Assessment

    1. Conflict of interest in who pays: The assessment is funded by the project proponent, which creates an incentive to understate impacts. Eg. Independent data on the Mundra Port and Special Economic Zone exposed deficiencies the proponent’s own assessment had missed. Fix. Have EIA reports audited by an autonomous body not funded by the proponent.
    2. Cumulative impact goes unmeasured: Appraisal runs project by project, so the combined load on one river is never assessed. Eg. National Green Tribunal orders in 2024 and 2025 cancelled clearances on this ground. Fix. Move to landscape level cumulative assessment for a whole catchment.

    Back2Basics: Sharavathi Valley Lion-Tailed Macaque Wildlife Sanctuary

    1. Location: In the Sharavathi river valley, Shivamogga district, Karnataka.
    2. Landmarks within it: Jog Falls and the Linganamakki reservoir lie inside it.
    3. Flagship species: The lion-tailed macaque, an endemic arboreal primate, is a keystone seed disperser and an indicator of forest health.

    Matching Previous Year Question

    “[2024, GS3, 10 marks] What role do environmental NGOs and activists play in influencing Environmental Impact Assessment (EIA) outcomes for major projects in India? Cite four examples with all important details.”

  • ‘CAS is a move in the right direction, but the timing may not be right’

    Why in the News

    The Securities and Exchange Board of India (SEBI) has replaced the method used to fix closing prices on the stock exchanges with a Closing Auction Session (CAS), implemented at the start of this month. The earlier method took the volume weighted average price (VWAP), the average price of the last 30 minutes of trading, which a large order placed in the closing moments could tilt. The change follows the Jane Street episode, after which the regulator concluded that the earlier method could be moved in a participant’s favour. Traders hold that the direction of the change is right and the timing is not, since Indian markets carry far higher retail participation than the institution driven markets the mechanism was borrowed from.

    How does the Closing Auction Session work?

    1. Normal trading closes at 3.15 pm: Trading runs as usual until 3.15 pm, and all pending limit and market orders are carried forward into the CAS. Stop loss orders are removed from the system.
    2. Reference prices are computed through the session: Exchanges calculate reference prices from 3.15 pm to 3.30 pm.
    3. Order types narrow as the session runs: Market or limit orders may be placed between 3.20 pm and 3.25 pm (a market order executes at the prevailing price, a limit order executes only at the price stated by the trader). From 3.25 pm only limit orders are accepted.
    4. The close is randomised: The session ends at a random time between 3.27 pm and 3.30 pm. Derivatives continue to trade until 3.40 pm.

    Why did SEBI move away from the volume weighted average price method?

    1. The weakness in an average: A large quantity traded in the closing moments moves the average, so the preceding 30 minutes count for little in the final price.
    2. The trigger for the review: The regulator concluded after the Jane Street episode that the closing price under the earlier method could be tilted.
    3. Global practice: Auction based closes are already used in developed markets, including the United States and the United Kingdom.
    4. Institutional demand: Financial institutions and global players pitched the auction as the better mechanism for determining closing prices.

    What does the auction change for participants?

    1. Participation replaces dependence on a single print: The closing price is formed from orders placed in the auction rather than from a computed average, which makes price discovery more broad based.
    2. Orders are no longer tied to the closing price: A participant can place an order at a higher or lower price according to their own requirement, instead of matching at whatever the closing price turns out to be.

    Why are volumes in the session thin?

    1. Participants are still adjusting: The session is new, and a change in market structure is first thought over and played out with caution before it is used.
    2. The matching price is not visible: Price matching runs for five to seven minutes behind the scenes, so a participant does not know the price at which an order will match.
    3. Part execution is the likely outcome: An order placed two per cent away from the market carries no certainty that the full quantity will be executed, and under executions are the more likely result.
    4. The largest volume generators are absent: Arbitrage firms and proprietary trading firms are sitting out, since the session gives them neither the time nor the visibility to hedge in the futures and options (F&O) segment. They do not run unhedged positions.

    Why is the timing of the change contested?

    1. Market maturity: The Indian market is not yet mature enough for a mechanism designed for markets where participants have full information on when and how to participate.
    2. Retail share is higher than in comparable markets: India has much higher retail participation than other major markets, which are institution driven, and retail awareness of the new session is still at an early stage.
    3. A longer parallel run was possible: The session could have been run in simulation or in parallel with the earlier system for longer, giving participants time to get used to it before implementation.
    4. Small orders may not find a match: Most retail investors trade in small ticket sizes, so a large institutional order placed in the session is unlikely to be matched.
    5. Leverage pulls retail elsewhere: Retail traders prefer the derivatives segment over the auction because of the higher leverage available there.

    Conclusion

    The Closing Auction Session has been in force since the start of the month and is still evolving, which makes a comparison with the earlier method premature. Volumes remain low and the participants who generate most of them are staying out until they can hedge around the randomised close. The next test is whether participation broadens as the mechanism settles and awareness spreads at the retail level.

    Matching Previous Year Question

    “[2023] Consider the following markets : 1. Government Bond Market 2. Call Money Market 3. Treasury Bill Market 4. Stock Market How many of the above are included in capital markets? (a) Only one (b) Only two (c) Only three (d) All four ANSWER: (b)”

  • Chandra’s settlement comes as IBC turns 10, with bank haircuts at five-year high

    Why in the News

    The National Company Law Tribunal (NCLT) has approved a personal insolvency repayment plan under which Zee Group founder Subhash Chandra will pay Rs 6.5 crore against admitted claims of Rs 22,006.57 crore. That is a 99.97 per cent haircut, one of the highest in the history of the insolvency regime. It comes as the Insolvency and Bankruptcy Code, 2016 (IBC) completes ten years in force. Banks are considering an appeal before the National Company Law Appellate Tribunal (NCLAT). The dispute is whether the Code should be judged by what creditors recover or by whether a stressed asset is resolved at all.

    What is a “haircut” under the Insolvency and Bankruptcy Code, 2016?

    1. The term is not defined in the Code: The IBC nowhere defines a haircut. Banking practice uses the word for the percentage reduction in the value of an asset pledged as collateral, applied to protect the lender against loss.
    2. What the Code was enacted to do: The IBC was enacted in 2016 to rescue companies under financial stress or heavy debt through resolution and repayment to creditors.
    3. A creditor majority binds the minority: Once the required majority of creditors approves a repayment plan and the tribunal sanctions it, a dissenting creditor cannot walk away and demand a separate settlement.

    Why has the Chandra order revived the haircut debate?

    1. The size of the write down: The order of 25 August approved payment of Rs 6.5 crore to creditors, plus Rs 25 lakh towards the costs of the process.
    2. The liability arises from personal guarantees: Much of the admitted claim relates to personal guarantees and indemnities given for borrowings by companies associated with the Essel Group.
    3. The route is personal insolvency: The proceedings ran against the individual promoter as a personal guarantor rather than against a corporate debtor.
    4. Lenders are weighing a challenge: Banks are considering an appeal against the approval before the NCLAT.

    What does the recovery record under the Code look like?

    1. Cases resolved and value realised: Between 2021-22 and 2025-26, 1,077 cases were resolved under the IBC, with a realisation of Rs 2.47 lakh crore for creditors.
    2. The five year average: Average recovery against admitted claims across those five years was close to 29 per cent.
    3. The year wise trend: Recovery was 24 per cent in 2021-22, 39 per cent in 2022-23, 28 per cent in 2023-24 and 37 per cent in 2024-25, before falling to 20 per cent in 2025-26, the lowest in five years.
    4. What the figure means for a lender: A bank may hold claims running into thousands of crore rupees and receive only a fraction of what it is owed.

    Why do the banks contest the vote that approved the plan?

    1. The margin of approval: Twenty three creditors participated in the voting, and the plan was approved with 80.814 per cent of the votes cast in its favour.
    2. Every bank voted against: The banks that opposed the plan held a combined vote share of only 19.186 per cent.
    3. The related party allegation: Banks say at least five entities holding 61.78 per cent of the votes cast, all of which backed the plan, are linked to the debtor as associates or related parties.
    4. The exclusion sought: A trustee company argued that the votes of an investment company and its two subsidiaries should not have been counted. A resolution professional is the person appointed to manage the affairs of an entity under insolvency and to facilitate its resolution.
    5. The subsidiary argument: The debtor’s counsel argued that a parent company that is not itself an associate of the debtor cannot pass that classification to its downstream subsidiaries.
    6. The debtor’s response: Chandra’s office rejected the allegation as inaccurate. It said the entities referenced belonged to a relative whose business interests were separated in 2008-09, and that they do not qualify as associate entities under the Code.

    Is the Code meant to maximise recovery, or to resolve?

    1. The government’s position: The Ministry of Corporate Affairs holds that the primary objective of the Code is resolution and not recovery.
    2. Why claims are treated as the wrong benchmark: The Ministry told the standing committee on finance in December 2025 that the assets available on the ground are the better measure, since the market values what a company brings to the table and not what it owes.
    3. What an admitted claim contains: A claim often includes a non performing asset (NPA) that may be fully written off, the interest on that asset, and both a loan and the guarantee given against it.
    4. The value that is not counted: Realisation figures exclude the value that may come from equity holdings after a resolution.
    5. The indirect gain claimed: The Code is credited with creating credit discipline, which has contributed to reducing the gross non performing assets of banks.
    6. The banks’ counter: Banks argue that the problem lies in the valuation of stressed companies, that all assets should be included and properly valued, and that the process is opaque.
    7. The valuation mechanism in dispute: At least two valuers are appointed to give a fair value and a liquidation value, based on records and physical examination of the assets. The Chairman of the State Bank of India told the standing committee that valuation should reflect enterprise value instead of liquidation value.

    Challenges to the Insolvency and Bankruptcy Code, 2016

    1. Delay erodes the value a resolution can fetch: A stressed company loses value for every year it stays unresolved, so the price a resolution applicant will pay falls with time. Eg. Videocon Industries was resolved in 2021 at about five per cent of admitted claims, and the NCLAT stayed the approved plan on that ground. Fix. Tie admission to a fixed outer date from the default so the asset reaches the market before it is stripped of value.
    2. Liquidation remains a more common outcome than rescue: A large share of admitted cases ends in liquidation rather than in an approved resolution plan, which inverts the Code’s stated purpose. Eg. The Insolvency and Bankruptcy Board of India’s quarterly newsletters have consistently reported more closures by liquidation than by resolution. Fix. Extend the pre-packaged insolvency route, available to micro, small and medium enterprises since 2021, to larger firms so a rescue is negotiated before value is lost.
    3. The individual insolvency framework is only partly in force: Part III of the Code was notified in December 2019 for personal guarantors to corporate debtors alone, and the remaining provisions for individuals and partnership firms have not been brought into force. Eg. A defaulting individual who is not a personal guarantor has no route under the Code at all. Fix. Notify the remaining Part III provisions along with a designated adjudicating forum for individual cases.

    Conclusion

    The appeal now being prepared will decide whether the disputed votes were correctly counted, and that is the next milestone in this case. Valuation is the point on which the recovery and resolution positions turn, and shifting stressed asset valuation to enterprise value is still only a suggestion before the committee.

    Matching Previous Year Question

    “[2017] Which of the following statements best describes the- term ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’, recently seen in the news? (a) It is a procedure for considering ecological costs of developmental schemes formulated by the Government. (b) It is a scheme of RBI for reworking the financial structure of big corporate entities facing genuine difficulties. (c) It is a disinvestment plan of the Government regarding Central Public Sector Undertakings. (d) It is an important provision in ‘The Insolvency and Bankruptcy Code’ recently implemented by the Government. ANSWER: (b)”

  • Govt. to replace 2 lakh old trucks/buses in Delhi-NCR in one year (PARIVARTAN scheme)

    Govt. to replace 2 lakh old trucks/buses in Delhi-NCR in one year (PARIVARTAN scheme)

    Why in the News

    The Union government aims to replace more than two lakh trucks and buses in Delhi and the National Capital Region with BS VI or electric vehicles within a year under the PARIVARTAN scheme, the Road Secretary has said. This brings forward a two year implementation timeline the Union Cabinet had earlier approved for the scheme. Trucks and buses make up only 3.1% of the region’s total vehicle fleet but contribute 36% of vehicular PM2.5 emissions, so the scheme concentrates replacement incentives on a small segment of the fleet rather than vehicles as a whole.

    What is the PARIVARTAN scheme?

    1. A vehicle renewal and incentive scheme: PARIVARTAN (the Programme for Accelerated Renewal and Incentivization of Vehicle Assets for Reducing Transport Air Pollution and Network Emissions) is a Union scheme to replace old trucks and buses in Delhi NCR with cleaner vehicles.
    2. Targets older commercial vehicles across four jurisdictions: It covers trucks and buses registered in Delhi and the NCR districts of Haryana, Rajasthan and Uttar Pradesh that conform to BS IV or older emission norms.
    3. Jointly funded and implemented: The scheme is funded through the National Capital Region Planning Board under the Ministry of Housing and Urban Affairs and implemented by the Ministry of Road Transport and Highways.

    What incentives does PARIVARTAN offer to push buyers toward cleaner vehicles?

    1. A large but shared financial outlay: The scheme carries a total financial outlay of Rs. 9,585 crore, of which Rs. 5,041 crore is central budgetary support.
    2. Lower cost of borrowing: Eligible buyers get a 5% interest subvention on vehicle loans for five years.
    3. Waived recurring and one time levies: Eligible buyers of new BS VI vehicles get a 100% road tax waiver for 10 years and exemption from registration fees.
    4. A manufacturer side discount: Eligible buyers also get at least an 8% discount on the ex showroom price from participating vehicle manufacturers.

    Challenges to the PARIVARTAN scheme

    1. Fleet turnover in one year is an aggressive compression: Compressing the replacement of over two lakh vehicles into one year against an originally planned two year timeline strains scrapping, registration and financing capacity built for a slower pace. Eg. India’s separate vehicle scrappage policy has itself faced slow uptake since 2021 because of limited authorised scrapping facility capacity in most States. Fix. Expand authorised vehicle scrapping facility capacity in Delhi NCR ahead of the compressed timeline, rather than relying on facilities sized for the original two year plan.
    2. Small operators may lack access to the incentives: Interest subvention and manufacturer discounts assume buyers can access formal vehicle financing, which many small truck and bus operators in the informal freight sector cannot. Eg. A large share of India’s freight trucking fleet is owned by operators with one to five vehicles, who typically borrow from informal lenders rather than banks. Fix. Route a dedicated financing window for small fleet owners through public sector banks or the National Capital Region Planning Board itself, with relaxed collateral norms.
    3. Cross state enforcement is harder than a single city ban: The scheme spans Delhi and NCR districts across three States, and inconsistent enforcement of the BS IV cutoff across State transport departments can let older vehicles keep operating in weaker enforcement pockets. Eg. Delhi’s earlier ban on end of life diesel vehicles pushed many such vehicles into neighbouring NCR districts rather than off the road entirely. Fix. Link registration renewal and permit issuance across all four jurisdictions to a shared, real time vehicle emission compliance database.

    Conclusion

    The PARIVARTAN scheme now targets replacing over two lakh Delhi NCR trucks and buses within one year instead of two, backed by a Rs. 9,585 crore incentive package. The scheme’s next milestone is the pace of actual vehicle replacement against this compressed one year timeline, particularly among small and informal fleet operators who face the greatest financing and enforcement gaps.

  • Behind Nepal floods, rising risk of glacier collapse (Explainer)

    Behind Nepal floods, rising risk of glacier collapse (Explainer)

    Why in the News

    Flash floods that swept through parts of Nepal and Tibet this week followed a glacial collapse in the Himalayas. The collapse sent a mass of ice and rock debris into the Lhende Khola and Bhote Koshi river system, and this debris reached inhabited valleys downstream. Glaciologists say such collapses are becoming more frequent because of faster warming in the Himalayas, and disaster planning for hydropower siting and early warning has not kept pace with this rising risk.

    What is a glacial collapse?

    1. Sudden mass failure of a glacier: A glacial collapse is the sudden detachment of a large mass of ice, rock and water from a glacier resting on a steep mountain slope.
    2. Triggered by geological and physical factors: Earthquakes, temperature changes and other physical changes unfolding within a glacier can trigger a collapse.

    How does a glacier’s own structure fail under stress?

    1. Formation builds a heavy, moving mass: Snow that survives several melting seasons compresses into firn (a granular midpoint stage between fresh snow and glacial ice) before recrystallising into the solid ice of a glacier.
    2. Gradient driven flow creates fracturing stress: Once a glacial mass is heavy enough it flows outward along the mountain gradient. This acceleration creates stress that exceeds the strength of the ice, and sustained movement eventually fractures it.
    3. Surface melting weakens the ice from within: Meltwater pools inside surface cracks over repeated freeze and thaw cycles. This repeated pressure eventually splits the ice all the way through.

    Why do wet base glaciers in the Himalayas pose a distinct collapse risk?

    1. Soft beds trap and channel meltwater: Where a glacier rests on soft mud or clay, trapped water moves through networks of cracks within the ice and travels toward the base.
    2. Subglacial tunnels concentrate large volumes of water: In wet base Himalayan glaciers, water collects at the base in large quantities and is occasionally connected by tunnels, so a collapse can release a concentrated volume of water at once.

    Why can a single glacial collapse trigger a second wave of flooding?

    1. Debris blocks the river before it breaks free: Collapsed ice and rock piles can block narrow river channels and form temporary natural dams downstream.
    2. A dam break repeats the flood: When such a temporary dam breaks under continuous pressure, it unleashes a second round of flooding, as happened in Nepal this week.

    Challenges to managing glacial collapse risk

    1. Rising baseline risk from faster warming: The incidence of glacier breakages in the Himalayas has increased because the region is warming faster than the global average. Eg. This week’s Nepal and Tibet collapse and debris flow into the Lhende Khola and Bhote Koshi system is one instance of this rising baseline risk. Fix. Expand year round remote seismic monitoring and high altitude early warning systems across the central Himalayan glacier belt, not only at individual high risk sites.
    2. Search and rescue capacity has not kept pace: More frequent and physically more demanding glacial collapse events place a growing burden on search and rescue missions in remote high altitude terrain. Eg. Reaching debris blocked valleys along the Bhote Koshi system after this week’s floods required search teams to operate in terrain cut off by the same collapse. Fix. Pre position high altitude search and rescue teams and equipment at seasonal staging points along known glacial risk corridors before the summer melt season.
    3. Critical infrastructure remains sited in high risk zones: Hydropower plants and other critical infrastructure continue to be built in areas exposed to glacial collapse and the flooding it can trigger. Eg. Downstream hydropower installations on Himalayan rivers were damaged in the 2021 Rishiganga Dhauliganga disaster in Uttarakhand, when an upstream ice and rock avalanche triggered a sudden flash flood. Fix. Make hazard zonation for glacial collapse and outburst flood risk a mandatory clearance requirement before critical infrastructure is sited in glacier fed river valleys.
    4. Upstream glacial instability is not systematically shared across borders: Himalayan river systems cross national boundaries, but instability observed on a glacier upstream is not routinely communicated to downstream countries before a disaster strikes. Eg. This week’s collapse originated in Tibet and Nepal before its effects reached downstream valleys, showing how upstream instability in one country can affect communities in another with little warning. Fix. Establish a standing India, Nepal and China data sharing mechanism for real time glacial and river monitoring in shared Himalayan basins.

    Conclusion

    Himalayan glacial collapses are becoming more frequent as regional warming outpaces the historical baseline, and this week’s Nepal and Tibet floods are a fresh instance of that pattern. The next step for disaster managers is to convert scattered seismic monitoring and hazard mapping efforts into a standing, cross border early warning system, before the next collapse rather than after it.

  • Need to break Manipur’s cycle of reprisal (Editorial)

    Need to break Manipur’s cycle of reprisal (Editorial)

    Why in the News

    More than three years after the Meitei-Kuki clashes began, Manipur now faces a deepening Kuki-Naga fault line. Four Naga civilians were killed this week in Kuki-dominated Kangpokpi district, an episode that follows the killing of Kuki-Thadou church pastors in May, retaliatory abductions on both sides, and the recovery a month later of the bodies of six Naga men.

    How has the conflict widened beyond the original Meitei-Kuki fault line?

    1. A second, distinct fault line has opened: What began as Meitei-Kuki violence in 2023 has produced a separate Kuki-Naga confrontation, evident in this week’s killing of four Naga civilians in Kangpokpi, a district that sits between Naga-dominated Senapati to the north and Meitei-dominated valley districts to the south.
    2. A traceable chain of retaliation: The killing of Kuki-Thadou pastors in May was followed by retaliatory abductions from both communities, and the subsequent recovery of six Naga men’s bodies a month later, establishing a pattern of reprisal rather than an isolated incident.
    3. Blockades have turned roads into contested territory: Meitei, Kuki and Naga groups have separately imposed blockades that disrupt supplies, raise the cost of food and fuel, and restrict access to healthcare, with Kangpokpi the worst affected due to its position between rival-dominated districts.

    Why has the return of an elected government failed to restore order?

    1. A power-sharing arrangement has not translated into reconciliation: The state government led by Yumnam Khemchand Singh, a Meitei chief minister with deputy chief ministers from the Kuki and Naga communities, returned in February after almost a year of President’s Rule, but has found little success pulling the state back from the brink.
    2. Social segregation has outpaced political representation: The communities remain socially segregated, so political representation across the three groups in government has not by itself addressed the everyday separation that sustains distrust and enables further violence.
    3. Displacement has produced a significant, undercounted toll: Right to Information data has revealed that more than 700 internally displaced people have died in relief camps, a toll separate from and additional to deaths from direct violence.

    Challenges to a political settlement in Manipur

    1. Security forces have struggled to secure supply routes: Security forces have had very little success ensuring the safe movement of convoys carrying essential supplies through blockaded areas. Eg. Blockades imposed by Meitei, Kuki and Naga groups have repeatedly disrupted the movement of food, fuel and medical supplies into Kangpokpi and surrounding districts. Fix. Establish dedicated, jointly monitored humanitarian corridors for essential supplies, with monitoring involving representatives from all three communities rather than security forces alone.
    2. Armed groups remain undisbanded: Militant groups from multiple communities continue to operate, and a crackdown on extremist elements has not kept pace with the scale of continuing violence. Eg. The killing of four Naga civilians in Kangpokpi this week, alongside the earlier killing of Kuki-Thadou pastors, shows armed actors from more than one community remain capable of carrying out attacks. Fix. Pursue simultaneous, verifiable disarmament commitments from armed groups across all three communities rather than sequencing disarmament by community.
    3. No agreed framework exists for resolving land and identity claims: Every claim over land and identity cannot be resolved overnight, and the absence of an interim framework leaves communities without a safe basis for movement, trade or daily coexistence. Eg. The overlapping blockades by all three communities show there is currently no shared understanding of which areas each community can safely access. Fix. Prioritise an interim framework guaranteeing safe movement, trade and access to essential services, deferring final land and identity settlements to a later, dedicated political process.

    Conclusion

    The editorial’s position is that political representation alone, through a Meitei chief minister and Kuki and Naga deputy chief ministers, cannot resolve a conflict sustained by social segregation and repeated cycles of reprisal. It calls for sustained dialogue empowering civil society leaders, an interim framework for safe movement and trade, and simultaneous disarmament and action against extremist elements, alongside the immediate arrest of those responsible for this week’s killings.

    Back2Basics: What is President’s Rule?

    Central takeover of state governance: President’s Rule, imposed under Article 356 of the Constitution, allows the Union government to assume direct control of a state’s administration when its constitutional machinery is deemed to have broken down, as occurred in Manipur for nearly a year before the elected government returned in February.

    1. How social media hooks children — Meta’s $17-billion settlement over addictive design

      Why in the News

      Meta, the owner of Facebook and Instagram, has agreed to pay up to $17.1 billion in penalties to 47 US states, Washington DC and other territories, and to make binding changes to its products, over claims that it endangered children through addictive design and violated child privacy norms. The settlement follows a March jury verdict in KGM v. Meta et al, where a Los Angeles jury held Meta and Google liable for $6 million in damages after finding that platform features contributed to a young user’s mental health harm. Indian regulators are studying the settlement as a possible template even as the Centre weighs age-based restrictions, usage limits and stronger parental consent requirements for children’s access to social media, discussions that remain at an early stage.

      What has Meta agreed to change, and why does the design focus matter?

      1. A default two-hour daily cap across both apps: Meta will impose a combined two-hour daily limit on Facebook and Instagram for under-18 users, cumulative across multiple accounts, changeable only by a verified parent, with direct messaging excluded.
      2. Time-boxed access at night and during school hours: Teen users will be blocked from most parts of the platforms between midnight and 6 am, with most push notifications disabled between 10 pm and 7 am and muted between 8 am and 3 pm on school weekdays.
      3. Engagement features are curbed by default: The settlement provides a non-personalised feed option, hides like and reaction counts by default, restricts cosmetic-procedure filters, and requires usage prompts after every 15 minutes of continuous scrolling.
      4. Compliance is externally audited: Meta must hire an independent auditor to assess compliance with the safeguards for five years, addressing an issue exposed at the KGM trial, where only 1.1 percent of teen users had activated an existing optional daily-use limit.

      Why do experts see the design-focused approach as more significant than the payout?

      1. The settlement forces architectural change, not just policy change: A US legal academic notes this is the first US instance of a major platform being forced to change the “architecture of its product” rather than only its stated policies, arguing the design changes matter more than the settlement figure.
      2. Default settings determine real-world reach: A researcher at Common Sense Media expects the universal, default time and night-mode limits to have real effect, while the optional recommendation and engagement changes will reach fewer teens because a parent must actively enable them.
      3. Compliance is not the same as harm reduction: A policy scholar cautions that measuring compliance with a feature checklist is different from measuring actual outcomes, and argues independent researchers need real data access on sleep, wellbeing and compulsive-use patterns to know if the changes work.
      4. Recommendation algorithms remain the open question: Critics note the changes do not fully address the recommendation systems that encourage continued scrolling, with one researcher’s biggest unresolved question being how removing algorithmic recommendations changes what teens are shown and re-engage with.

      What evidence links social media design to youth mental health harm?

      1. Large-scale studies link engagement to anxiety and depression: A 2024 meta-analysis of 143 studies involving over one million adolescents found greater social media engagement associated with higher levels of anxiety and depression.
      2. Specific design features have identifiable mechanisms of harm: A Johns Hopkins researcher identifies appearance-based social comparison, visible like counts and overnight notifications as features with clear mechanisms of psychological impact.
      3. Reducing use shows measurable benefit: A 2025 randomised controlled trial of 220 young people found that cutting smartphone-based social media use to about one hour a day for three weeks reduced depression, anxiety and fear of missing out, and improved sleep; a 2026 trial found a similar reduction in loneliness after cutting use by about 78 minutes a day.
      4. Academic performance is also affected: A 2025 systematic review of 34 studies found off-task social media and smartphone use generally associated with lower academic achievement among children and adolescents.

      What does the settlement leave unresolved, and what does it mean for India?

      1. A financial incentive, not a mandate, for industry-wide adoption: About 30 percent of the $17 billion payout is contingent on YouTube and TikTok adopting comparable safeguards and matching payments, with stricter limits following only if Snap, TikTok and YouTube all comply.
      2. No admission of wrongdoing or binding precedent: The consent judgment explicitly states the settlement does not establish a standard of care or serve as precedent in any non-participating US state or international jurisdiction, including India.
      3. A legal question on platform liability remains open in the US: A Stanford law professor notes Meta’s attempt to invoke Section 230 immunity against design-based claims could still reach the US Supreme Court, since the settlement does not resolve roughly 2,900 other pending cases.
      4. India’s own discussions remain preliminary: The Centre is weighing age-based restrictions, usage-hour limits and stronger parental consent requirements for children’s social media access, but these discussions are still at an early stage, with the US settlement offered as a possible design-regulation template.

      Back2Basics

      1. Section 230: A provision of the US Communications Decency Act, 1996, that shields online platforms from liability for content posted by users, now being tested against claims that target a platform’s product design rather than the content it hosts.
      2. Digital Personal Data Protection Act, 2023: India’s framework law on personal data processing, which includes provisions requiring verifiable parental consent before processing a child’s personal data.
      3. Multidistrict litigation: A US federal court procedure that consolidates similar lawsuits filed in different districts, such as the roughly 2,900 other cases against social media platforms, for coordinated pre-trial proceedings.

      (GS3-22, 2024, 10 marks, Microtheme: Data Protection) “Describe the context and salient features of the Digital Personal Data Protection Act, 2023”

    2. Economy weathered West Asia shock. Now, reform for sustained growth (Op-ed by Sajjid Chinoy)

      Why in the News

      India’s gross domestic product (GDP) growth for the last quarter is expected to print close to 8 per cent, defying fears that the West Asia conflict had dented the economy. This follows a joint fiscal, monetary and regulatory stimulus through 2025, direct tax cuts, a Goods and Services Tax (GST) rationalisation, and an effective 150 basis point policy rate cut, combined with a swift diversification of energy imports during the conflict. The pickup is largely cyclical, and the investment rate, corporate capital expenditure (capex) and structural export and employment growth remain too weak to sustain the expansion once the stimulus fades.

      What explains India’s growth resilience through the West Asia conflict?

      1. A joint stimulus in 2025: Direct taxes were cut in February, GST was rationalised in September, and policy rates were cut by an effective 150 basis points along with regulatory easing in the financial sector.
      2. Non-oil export acceleration: Exports have picked up on the back of a near 15 per cent depreciation of the real effective exchange rate (REER), the trade weighted, inflation adjusted value of the rupee against a basket of currencies, since 2025, a reduction in United States tariffs, and resilient global growth.
      3. Swift energy diversification: India sourced crude from Russia and liquefied natural gas from the United States and Oman to prevent shortages, importing 17 per cent more energy than normal last quarter, while the government absorbed the bulk of the oil price shock through the fisc to insulate the private sector.

      Why does India’s investment rate remain a structural concern?

      1. Fixed investment stagnant: Fixed investment remains near its decadal average of 32 per cent of GDP and has not lifted despite rising public investment and real estate capex.
      2. Corporate capex has not picked up: Corporate capex continues to languish around 10 to 11 per cent of GDP, and balance sheets of the top 1,000 listed companies show no discernible pickup in 2025-26.
      3. Central capex is slowing: Central capex grew 30 per cent between 2020 and 2023, then slowed to 11 per cent in 2024 and just 1.6 per cent in 2025, as tax cuts absorbed fiscal space.
      4. State capex under pressure: Cash transfers on demand are pushing state capex growth below nominal GDP growth.
      5. Weak demand visibility: Capacity utilisation has stayed in the 75 to 76 per cent range for a decade, and rising Chinese overcapacity is discouraging corporate investment.

      Why are consumption and export growth not yet structural?

      1. Weaker growth than the earlier export led cycle: Post-pandemic private consumption and exports grew at about 5 per cent, against the 16 per cent export growth between 2003 and 2012 that had crowded in private capex.
      2. Service export growth has halved: Service export growth in nominal dollars has fallen to 8 per cent over the last year from 16 per cent over the previous four years, and employment across major IT firms has stayed flat.
      3. Employment mix is shifting toward self-employment: The Periodic Labour Force Survey shows India’s employment rate rising, but a significant share of new jobs are self-employed rather than salaried, even as the mix improved in 2025.
      4. Consumption is credit fuelled: Non-Banking Financial Company lending to households is growing at 20 per cent and unsecured personal lending momentum has risen to 25 per cent, on the back of rising household leverage.

      What must change for the growth cycle to become structural?

      1. Labour must become more competitive against capital: India’s capital-labour ratio has risen for over two decades, and reversing this needs education, skilling and health investment, alongside rationalising labour laws that raise the cost of labour.
      2. Exports need structural competitiveness: Goods exports have fallen from 17 per cent of GDP a decade ago to 11 per cent, and further gains need tariffs and non-tariff barriers rationalised and overregulation reduced.
      3. Private capex is the real crowding-in mechanism: Structurally higher consumption and exports are what would draw in a sustained private capex cycle, which in turn would crowd in foreign direct investment and stabilise the balance of payments.

      Conclusion

      The current cyclical strength, backed by clean corporate and financial balance sheets and a sustained agricultural surplus, is a bridge over the West Asia shock, not a destination. Unless investment, exports and employment turn structural, the growth cycle will not sustain once the fiscal and monetary stimulus fades, and the piece warns there is little time left to act given global automation, trade fragmentation and a fraying international order.

      Matching Previous Year Question

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