CONTENTS
Indian Government Boosts AI Technology with Budget Allocation for IndiaAI Mission
Right to Shelter
Interministerial Panel Identifies Loopholes Enabling Cyber Scams
Budget Proposals for 2024-25: Natural Farming Initiative
Typhoon Gaemi
Subvention Scheme
Mako Missile
Indian Government Boosts AI Technology with Budget Allocation for IndiaAI Mission
Context:
The Indian government has demonstrated its commitment to advancing artificial intelligence (AI) technology by allocating Rs 551.75 crore to the Ministry of Electronics and Information Technology in the Union Budget 2024-25. This funding aims to enhance AI infrastructure, including the procurement of high-performance Graphic Processing Units (GPUs), supporting domestic AI development and reducing reliance on expensive foreign hardware.
Relevance:
GS III: Science and Technology
Dimensions of the Article:
IndiaAI Mission
Key Highlights of India’s Artificial Intelligence Market
Challenges Anticipated for IndiaAI Mission
IndiaAI Mission
Overview: The IndiaAI Mission is a major initiative aimed at building a robust artificial intelligence (AI) infrastructure in India. It focuses on enhancing the nation’s capabilities in AI technology, improving data quality, and supporting indigenous AI development. The mission seeks to create an environment conducive to AI innovation and ethical practices while fostering collaboration between industry, academia, and startups.
Key Objectives:
Establish AI Computing Infrastructure:
Build a high-end AI computing ecosystem with over 10,000 Graphics Processing Units (GPUs).
Procure 300 to 500 GPUs initially to kickstart the project.
Provide essential computing power to Indian startups and researchers.
Development of Indigenous AI Technologies:
Create Large Multimodal Models (LMMs) and foundational models with over 100 billion parameters.
Focus on priority sectors such as healthcare, agriculture, and governance.
Develop datasets covering major Indian languages.
Enhance Data Quality:
Develop a unified platform to provide seamless access to quality non-personal datasets.
Support startups and researchers with high-quality data resources.
Support AI Startups and Research:
Provide streamlined funding access for deep-tech AI startups with approximately Rs 2,000 crore allocated.
Foster industry collaboration and support impactful AI startups.
Expand AI education with undergraduate, master’s, and Ph.D. programs, and establish Data and AI Labs in smaller cities.
Promote Ethical AI Practices:
Develop guidelines and frameworks to ensure responsible AI practices.
Include indigenous tools for project assessment and ethical evaluation.
Create an AI Marketplace:
Establish an AI marketplace to facilitate resource sharing and collaboration among AI stakeholders.
Financials:
The Union Cabinet approved the mission with a budget of Rs 10,372 crore.
Close to Rs 2,000 crore has been earmarked specifically for developing foundational models and AI infrastructure.
Significance:
GPU Utilization: GPUs are crucial for training large-scale AI models and are essential for advanced applications such as machine learning, modeling, media analytics, and cloud gaming.
Socio-Economic Impact: The mission aims to address critical challenges in various sectors and drive large-scale socio-economic transformation through AI.
Talent and Innovation: By attracting top talent and fostering industry collaboration, the mission seeks to position India as a global leader in AI technology.
Key Highlights of India’s Artificial Intelligence Market
Growing AI Adoption:
Government Initiatives: The National AI Strategy and the National AI Portal, along with programs like AI for All by NASSCOM, are accelerating AI adoption across sectors.
Sector Integration: Key sectors such as healthcare, finance, retail, manufacturing, and agriculture are increasingly integrating AI technologies.
Significance of Data:
Data as a Resource: Clive Humby’s assertion that “data is the new oil” highlights the importance of AI-driven data analytics.
Enhanced Insights: Companies leverage AI for valuable insights, operational improvements, and innovation.
Supporting Initiatives:
Digital India and Make in India: Initiatives like these, along with Smart Cities Mission and GI Cloud (MeghRaj), are driving AI adoption.
Global IndiaAI Summit: Hosted by India, this summit promotes AI advancements and collaboration.
Active Research Community:
Institutional Contributions: Institutions like IITs, ISI, and IISc are actively involved in AI research and development, contributing to the global knowledge base.
Emerging AI Clusters:
Major Cities: AI clusters are forming in cities like Bengaluru, Hyderabad, Mumbai, Chennai, Pune, and the National Capital Region (NCR).
Bengaluru’s Role: Known as the “Silicon Valley of India,” Bengaluru has a thriving ecosystem with over 2,000 active startups, significant IT exports, and strong AI research, including over 400 patents annually.
Investment Opportunities:
Agriculture: AI-powered precision farming and crop monitoring offer significant productivity gains.
Finance: AI-driven fraud detection, risk assessment, and customer service automation are in high demand.
Healthcare: AI presents opportunities in predictive diagnostics, personalized treatment, and drug discovery.
Retail: Technologies like recommendation engines and chatbots are transforming the retail sector.
Challenges Anticipated for IndiaAI Mission
Ambitious GPU Objectives:
Procurement and Deployment: Building a computing capacity of 10,000 GPUs is ambitious. Timely procurement and deployment are crucial.
High Costs and Availability:
Cost Barriers: High costs of GPUs, such as Nvidia’s A100 chip costing up to USD 10,000, pose barriers for smaller businesses.
Availability Issues: Accelerating the acquisition and integration of GPUs is essential.
Dataset Limitations:
Diverse Data Needs: Effective AI model training, especially for Indic languages, requires diverse and adequate datasets.
Skilled Workforce Shortage:
Talent Gap: There is a shortage of skilled AI professionals, and efforts are needed to bridge this gap.
High Deployment Costs:
Infrastructure Investments: The cost of deploying AI solutions, particularly in manufacturing, involves significant capital investments, which may hinder widespread adoption.
Infrastructure Needs:
Cloud Computing: Advanced cloud computing infrastructure is necessary for scaling AI applications. Current efforts like AIRAWAT are steps in the right direction, but comprehensive facilities are still lacking.
Ethical and Security Concerns:
Bias and Ethics: Ensuring ethical use and avoiding biases in AI models are critical.
Data Security: Handling sensitive personal data raises concerns related to data security and privacy.
Environmental Impact:
Energy Consumption: AI and data centers significantly increase global energy consumption. Data centers currently account for 1% to 1.3% of global electricity demand, projected to rise to 1.5% to 3% by 2026.
Cooling Needs: Increased data processing generates more heat, requiring powerful cooling systems.
Water Usage: The demand for water resources for cooling data centers adds to environmental concerns.
Geopolitical and Technological Restrictions:
Export Controls: Geopolitical tensions and export control regulations can restrict access to essential AI technologies and components.
-Source: The Hindu
Right to Shelter
Context:
The Supreme Court called for a balance between developing railway infrastructure in Haldwani and the fundamental right to shelter for people accused of illegally occupying railway land. The court clarified that its orders should not be misinterpreted as encouraging future encroachments on public land.
Relevance:
GS II: Polity and Governance
Dimensions of the Article:
Right to Shelter and Constitutional Provisions
Ethical Considerations Regarding Eviction
Judicial Verdicts on Right to Shelter
Government Initiatives to Provide Shelter
Balancing Development Projects and Right to Shelter
Right to Shelter and Constitutional Provisions
Right to Shelter:
Constitutional Basis: Recognized under Article 21 of the Indian Constitution, which guarantees the Right to Life. The Right to Shelter is derived from the Right to Life and is essential for living a life with dignity.
Scope: Includes not just having a roof over one’s head but also adequate privacy, space, security, lighting, ventilation, basic infrastructure, and proximity to workplaces and social amenities.
Implications: Ensures that citizens have access to adequate housing and that forced evictions are not carried out without proper rehabilitation and due process.
Ethical Considerations Regarding Eviction
Right to Secure Home:
Fundamental Right: Every person has the right to a secure and adequate home. Evictions without adequate alternative arrangements undermine this right.
Disproportionate Impact:
Marginalized Groups: Evictions disproportionately affect marginalized groups, including the poor, disabled, and elderly, who may lack resources to relocate or adapt.
Lack of Alternative Solutions:
Support Services: Evictions are sometimes executed without providing alternative housing solutions or support services, leaving people without a place to go.
Judicial Verdicts on Right to Shelter
Olga Tellis v. Bombay Municipal Corporation (1985):
Case Summary: Slum dwellers filed a PIL against eviction without alternate accommodation.
Judgment: The court held that eviction breached the right to livelihood and emphasized the State’s duty to secure adequate means of livelihood and avoid depriving people of their rights.
State of Maharashtra v. Basantibhai Khetan (1986):
Case Summary: The Supreme Court upheld land ceiling laws but stressed the State’s responsibility for providing rehabilitation and resettlement.
Chameli Singh v. State of UP (1995):
Case Summary: Justice Ramaswamy recognized the right to shelter as a fundamental right under Article 21 and the right to residence under Article 19(1)(e).
Ahmedabad Municipal Corporation v. Ahmed Singh and Gulab Singh (1996):
Case Summary: The court allowed the eviction of pavement dwellers on the condition that alternate accommodation was provided.
Sudama Singh and Others v. State of Delhi and Others (2010):
Case Summary: The Delhi High Court ruled that any eviction must include adequate compensation or alternate accommodation.
Government Initiatives to Provide Shelter
Pradhan Mantri Awas Yojana (PMAY):
Objective: A credit-linked subsidy scheme aimed at providing affordable housing to low and moderate-income residents.
National Urban Housing Fund (NUHF):
Objective: Provides financial assistance to states and Union Territories for implementing housing schemes.
National Rural Livelihood Mission:
Objective: Aims to reduce poverty by providing gainful self-employment and skilled wage employment opportunities to improve livelihoods sustainably.
Deen Dayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM):
Objective: Focuses on providing shelter with essential services to the urban homeless.
Slum Rehabilitation Authority (SRA) Scheme:
Objective: Active in Maharashtra, focusing on rehabilitating slum dwellers by providing them with housing.
Balancing Development Projects and Right to Shelter
Alternative Housing Options:
Provision: Ensure adequate alternative housing options for those displaced by development projects.
Lawful and Just Evictions:
Process: Conduct evictions in a lawful manner, with appropriate compensation and support for displaced individuals.
Community Development:
Programs: Incorporate community development programs into projects to enhance local infrastructure, services, and economic opportunities.
Long-Term Urban Planning:
Strategies: Develop long-term urban planning and housing strategies that balance development goals with the need for affordable and accessible housing.
-Source: The Hindu, Indian Express
Interministerial Panel Identifies Loopholes Enabling Cyber Scams
Context:
The Centre’s high-level interministerial panel has identified loopholes in banking, immigration, and telecom sectors that enable cyber scams originating from Southeast Asian countries.
Relevance:
GS III: Security Challenges
Dimensions of the Article:
Overview of Cybercrimes Originating from Southeast Asia
Types of Cybercrimes
Panel Report Findings
Proposed Steps to Address the Issue
Overview of Cybercrimes Originating from Southeast Asia
Key Facts:
Over 5,000 Indians are suspected to be trapped in Cambodia and forced into cyber fraud operations.
Indians have lost at least Rs 500 crore in the last six months due to cybercrimes.
About 45% of cybercrime incidents targeting India are traced back to Southeast Asia, notably Cambodia, Myanmar, and Laos PDR.
Since January 2023, around 1 lakh cyber complaints have been registered with the National Cybercrime Reporting Portal (NCRP).
Types of Cybercrimes
Trading Scams:
Modus Operandi:
Scammers use social media ads and fake news articles to offer free trading tips.
Victims are asked to install trading apps and deposit money to buy shares.
They are shown fake profits in their digital wallets, but funds cannot be withdrawn.
Impact:
Rs 222 crore lost by Indians between January and April 2024.
20,043 cases reported.
Digital Arrest:
Modus Operandi:
Victims receive calls about illegal activities involving contraband or forged documents.
Scammers pose as law enforcement on video calls, demanding money to settle the case.
Victims are coerced into staying visible to criminals until demands are met.
Impact:
Rs 120 crore lost by Indians between January and April 2024.
4,600 cases reported.
Investment/Task-Based Scams:
Modus Operandi:
Scammers use WhatsApp to promise returns for boosting social media ratings.
Victims are asked for bank details, receive a small sum initially, and are then enticed into larger investments.
Profits never materialize.
Impact:
Rs 1,420 crore lost by Indians between January and April 2024.
62,587 cases reported.
Dating Scams:
Modus Operandi:
Victims are lured by individuals pretending to be foreign women.
After proposing relationships or marriage, the scammers claim to be detained at the airport and request money for release.
Impact:
Rs 13 crore lost by Indians between January and April 2024.
1,725 cases reported.
Panel Report Findings
Shortcomings Identified:
Bank Involvement:
Senior bank managers from State Bank of India and Punjab National Bank were allegedly involved in opening mule accounts used for laundering cybercrime funds.
Unreturned Passengers:
About 30,000 out of 73,000 Indians who traveled on visitor visas to Southeast Asian countries between January 2022 and May 2024 did not return.
Bulk SIM Cards Misuse:
Misuse of bulk SIM cards in carrying out cybercrimes.
Proposed Steps to Address the Issue
Freezing Mule Accounts:
Around 4 lakh mule accounts have been frozen in the first six months of intervention.
Tracing Missing Individuals:
The immigration bureau plans to coordinate with relevant states to trace the families of the 30,000 missing individuals for further information.
State-Level Coordination:
States including Kerala, Tamil Nadu, Punjab, Andhra Pradesh, Delhi, Odisha, Madhya Pradesh, Mumbai, Telangana, and Uttar Pradesh will be tasked with locating missing persons and gathering intelligence on their current whereabouts.
-Source: Indian Express
Budget Proposals for 2024-25: Natural Farming Initiative
Context:
In her Budget proposals for 2024-25, the Union Finance Minister announced that in the next two years, one crore farmers across the country will be initiated into natural farming, supported by certification and branding.
Relevance:
GS III: Agriculture
Dimensions of the Article:
Union Budget 2024-25 Announcements on Natural Farming
What is Natural, Organic, and Zero-Budget Natural Farming (ZBNF)?
Government Initiatives to Promote Natural Farming
Challenges and Concerns
Way Forward
Union Budget 2024-25 Announcements on Natural Farming
Key Announcements:
Farmer Initiation: Over the next two years, one crore farmers will be initiated into natural farming, supported by certification and branding.
Implementation: This will be executed through scientific institutions and willing gram panchayats, with the establishment of 10,000 bio-input resource centers.
Shift in Focus: The emphasis will shift from area coverage to the number of farmers, addressing the issue of 30-40% of farmers reverting to chemical farming after receiving full incentives under the Bharatiya Prakritik Krishi Paddhati (BPKP).
What is Natural, Organic, and Zero-Budget Natural Farming (ZBNF)?
Natural Farming:
Focuses on using bio inputs from local ecosystems rather than purchased inputs.
ZBNF, popularized by Subash Palekar, uses mixtures like cow urine, dung, jaggery, lime, and neem to enhance soil health, reduce input costs, and mitigate greenhouse gas emissions.
Organic Farming:
Defined by product certification and the absence of chemical fertilizers/pesticides.
Emphasizes organic inputs but may not necessarily align with the local ecosystem approach of natural farming.
Government Initiatives to Promote Natural Farming
Paramparagat Krishi Vikas Yojana (PKVY):
Launched in 2015 as part of the National Mission on Sustainable Agriculture (NMSA).
Supports and promotes organic farming to improve soil health.
Bharatiya Prakritik Krishi Paddhati (BPKP)/ZBNF:
A sub-scheme of PKVY with a ₹4,645.69 crore outlay for six years (2019-20 to 2024-25).
Provides financial assistance (₹12,200/ha for 3 years) for cluster formation, capacity building, certification, and residue analysis.
Aims to cover 12 lakh ha in 600 blocks of 2000 hectares.
National Mission on Natural Farming (NMNF):
Prepares to launch a mission to promote chemical-free farming.
Success requires a shift in farmer behavior from chemical to natural inputs.
Challenges and Concerns
Sustainability and Yield:
Andhra Pradesh shows promising results in adopting ZBNF, but concerns remain about sustainability and yield.
ICAR-IIFSR findings show a 59% decline in wheat yields and a 32% decline in basmati rice yields with natural farming compared to integrated crop management.
Large-Scale Transition:
Meeting the expanding food needs of India poses a challenge.
A complete shift to natural farming could impact food security, as demonstrated by Sri Lanka’s experience after banning chemical fertilizers, leading to reduced crop yields and increased food prices.
Way Forward
Yield Trials: Conduct extensive yield trials to address concerns about the potential risk to national food security.
Use natural farming for supplementary foodstuffs rather than staple crops like wheat and rice.
Gradual Transition: Implement natural farming on a smaller scale initially, with a focus on supplementary crops.
Assess the model’s success before broader application to ensure it meets the food security needs of a large population.
Support Systems: Strengthen support systems, including training, certification, and resource centers, to facilitate a smooth transition for farmers.
-Source: The Hindu
Typhoon Gaemi
Context:
Recently, Typhoon Gaemi has brought torrential rains that have caused widespread destruction and fatalities across Eastern China, Taiwan and the Philippines
Relevance:
GS-I: Geography (Physical geography – Climatology, Important Geophysical phenomena), GS-III: Disaster Management
Dimensions of the Article:
Typhoon Gaemi and Its Impacts
What are Tropical Cyclones?
Conditions for cyclone formation:
How are Tropical Cyclones Formed?
Why tropical cyclones don’t form in the eastern tropical oceans?
Names of Tropical Cyclones
Structure of the tropical cyclone
Landfall, what happens when a Cyclone reaches land from the ocean?
Cyclone Management in India
Typhoon Gaemi and Its Impacts
Overview of Typhoon Gaemi:
Strength and Impact: Typhoon Gaemi, one of the strongest typhoons in eight years, made landfall in Taiwan, causing severe flooding in Taichung, the island’s second-largest city.
Regional Effects:
Philippines: The typhoon exacerbated seasonal rains, triggering floods and landslides.
China: It led to severe flooding in Zhejiang province and the highest warning for rainstorms in Wenzhou city.
What are Tropical Cyclones?
The Tropical Cyclones are violent storms that originate over oceans in tropical areas and move over to coastal areas bringing about large-scale destruction caused by violent winds, very heavy rainfall and storm surges.
These are low pressure weather systems in which winds equal or exceed speeds of 62kmph.
Winds circulate around in anti-clockwise direction in the Northern Hemisphere and in clockwise direction in the Southern Hemisphere.
“Tropical” refers to the geographical origin of these systems, which form almost exclusively over tropical seas.
“Cyclone” refers to their winds moving in a circle, whirling round their central clear eye, with their winds blowing counter clockwise in the Northern Hemisphere and clockwise in the Southern Hemisphere.
The opposite direction of circulation is due to the Coriolis effect.
Tropical Cyclones in India
Tropical cyclones striking India generally originate in the eastern side of India.
Bay of Bengal is more prone to cyclone than Arabian Sea because it gets high sea surface temperature, low vertical shear winds and has enough moisture in middle layers of its atmosphere.
The frequency of cyclones in this region is bi-modal, i.e., Cyclones occur in the months of May–June and October–November.
Conditions for cyclone formation:
A warm sea surface (temperature in excess of 26o –27o C) and associated warming extending up to a depth of 60m with abundant water vapour.
High relative humidity in the atmosphere up to a height of about 5,000 metres.
Atmospheric instability that encourages the formation of cumulus clouds.
Low vertical wind between the lower and higher levels of the atmosphere that do not allow the heat generated and released by the clouds to get transported from the area.
The presence of cyclonic vorticity (rate of rotation of air) that initiates and favours rotation of the air cyclonically.
Location over the ocean, at least 4–5 o latitude away from the equator.
How are Tropical Cyclones Formed?
Tropical cyclones typically form over large bodies of relatively warm water. Warm water > Evaporation > Rising up of air > Low Pressure area.
They derive their energy through the evaporation of water from the ocean surface, which ultimately re-condenses into clouds and rain when moist air rises and cools to saturation.
Water takes up heat from the atmosphere to change into vapour.
When water vapour changes back to liquid form as raindrops, this heat is released to the atmosphere.
The heat released to the atmosphere warms the air around.
The air tends to rise and causes a drop in the pressure.
More air rushes to the centre of the storm.
This cycle is repeated.
Why tropical cyclones don’t form in the eastern tropical oceans?
The depth of warm water (26-27°C) should extend for 60-70 m from surface of the ocean/sea, so that deep convection currents within the water do not churn and mix the cooler water below with the warmer water near the surface.
The above condition occurs only in western tropical oceans because of warm ocean currents (easterly trade winds pushes ocean waters towards west) that flow from east towards west forming a thick layer of water with temperatures greater than 27°C. This supplies enough moisture to the storm.
The cold currents lower the surface temperatures of the eastern parts of the tropical oceans making them unfit for the breeding of cyclonic storms.
ONE EXCEPTION: During strong El Nino years, strong hurricanes occur in the eastern Pacific. This is due to the accumulation of warm waters in the eastern Pacific due to weak Walker Cell.
Names of Tropical Cyclones
Depending on its location and strength, a tropical cyclone is referred to by different names:
Cyclones in the Indian Ocean
Hurricanes in the Atlantic
Typhoons in the Western Pacific and the South China Sea
Willy-willies in Western Australia
Structure of the tropical cyclone
Tropical cyclones are compact, circular storms, generally some 320 km (200 miles) in diameter, whose winds swirl around a central region of low atmospheric pressure. The winds are driven by this low-pressure core and by the rotation of Earth, which deflects the path of the wind through a phenomenon known as the Coriolis force. As a result, tropical cyclones rotate in a counter clockwise (or cyclonic) direction in the Northern Hemisphere and in a clockwise (or anticyclonic) direction in the Southern Hemisphere.
The Eye: A characteristic feature of tropical cyclones is the eye, a central region of clear skies, warm temperatures, and low atmospheric pressure. Typically, atmospheric pressure at the surface of Earth is about 1,000 millibars.
The Eyewall: The most dangerous and destructive part of a tropical cyclone is the eyewall. Here winds are strongest, rainfall is heaviest, and deep convective clouds rise from close to Earth’s surface to a height of 15,000 metres.
Rainbands: These bands, commonly called rainbands, spiral into the centre of the storm. In some cases the rainbands are stationary relative to the centre of the moving storm, and in other cases they seem to rotate around the centre.
Landfall, what happens when a Cyclone reaches land from the ocean?
Tropical cyclones dissipate when they can no longer extract sufficient energy from warm ocean water.
A storm that moves over land will abruptly lose its fuel source and quickly lose intensity.
A tropical cyclone can contribute to its own demise by stirring up deeper, cooler ocean waters. tropical cyclone can contribute to its own demise by stirring up deeper, cooler ocean waters.
Cyclone Management in India
India is highly vulnerable to natural disasters especially cyclones, earthquakes, floods, landslides, and drought. Natural disasters cause a loss of 2% of GDP every year in India. According to the Home ministry, 8% of total area in India is prone to cyclones. India has a coastline of 7,516 km, of which 5,700 km are prone to cyclones of various degrees.
Loss due to cyclones: Loss of lives, livelihood opportunities, damage to public and private property and severe damage to infrastructure are the resultant consequences, which can disrupt the process of development
Indian Meteorological Department (IMD) is the nodal agency for early warning of cyclones and floods.
Natural Disaster Management Authority is mandated to deal with the disaster management in India. It has prepared National Guidelines on Management of Cyclone.
National Cyclone Risk Mitigation Project (NCRMP) was launched by Home ministry to upgrade the forecasting, tracking and warning about cyclones in states.
National Disaster Response Force (NDRF) has done a commendable performance in rescuing and managing relief work.
National Disaster Response Reserve (NDRR)– a fund of 250 crores operated by NDRF for maintaining inventory for an emergency situation.
In 2016, a blueprint of National Disaster Management Plan was unveiled to tackle disaster. It provides a framework to deal with prevention, mitigation, response and recovery during a disaster. According to the plan, Ministry of earth science will be responsible for disaster management of cyclone. By this plan, India joined the list of countries which follow the Sendai Framework for Disaster Risk Reduction 2015-2030.
Due to increased awareness and tracking of Cyclone, the death toll has been reduced substantially. For example, Very severe cyclone Hudhud and Phailin claimed lives of around 138 and 45 people respectively, which might have been more. It was reduced due to the early warning and relocation of the population from the cyclone-hit areas. Very severe cyclone Ockhi claimed many lives of people in Tamil Nadu and Kerala. This was due to the unprecedented change in the direction of the cyclone.
But the destruction of infrastructure due to cyclonic hit is not been reduced which leads to increase in poverty due to the economic weakening of the affected population.
-Source: The Hindu, Indian Express
Subvention Scheme
Context:
Recently, the Supreme Court has provided relief to homebuyers in the National Capital Region (NCR) under the Subvention scheme.
Relevance:
GS II: Government policies and Interventions
Recent Supreme Court Ruling on the Subvention Scheme
Relief to Homebuyers in NCR:
Supreme Court’s Instruction: The Supreme Court has granted relief to homebuyers in the National Capital Region (NCR) by instructing banks not to take coercive action against those who have not yet received possession of their flats.
Subvention Scheme:
Definition and Mechanism:
Agreement: The subvention scheme involves a tripartite agreement among the buyer, banker, and developer.
Payment Structure:
Buyer: Pays 5-20% of the flat’s cost upfront.
Bank: Loans the remaining amount to the developer.
Developer: Pays the interest on the loan until the buyer takes possession.
Buyer’s EMI: Starts after possession of the property is received.
Purpose: The scheme is designed to boost sales for developers and defer EMI payments for buyers, making property purchases more attractive.
Challenges Faced:
Defaults: Many builders have defaulted on their payments under this scheme, causing issues for buyers.
Subsidy:
Definition and Purpose:
Financial Assistance: Subsidy refers to direct financial assistance provided by the government or other entities to reduce the cost of a product or service for the consumer.
Impact: It results in a decrease in the price of the product or service for the consumer.
Examples: Government subsidies are commonly applied to food grains, fertilizers, or fuel.
-Source: The Hindu
Mako Missile
Context:
The US Navy, Navy SEAL commandos, and the US Air Force are set to install the Mako missile in all their military aircraft.
Relevance:
GS III: Science and Technology
Mako Missile Overview
Introduction:
Type: Air-launched hypersonic multi-mission missile.
Developer: Lockheed Martin, a prominent American aerospace and defense manufacturer.
Significance: It is set to become the world’s first hypersonic weapon capable of being fired from the internal weapons bays of fifth-generation stealth fighter jets, such as the F-35 and F-22 Raptor.
Capabilities and Features:
Mission Versatility: Designed for a wide range of missions, the Mako missile can engage targets at sea, in the air, and on land.
Speed and Maneuverability:
Hypersonic Speed: Capable of reaching speeds over Mach 5 (five times the speed of sound).
Maneuverability: Offers high maneuverability, making it challenging for defensive systems to intercept.
Design and Engineering:
Digital Engineering: Represents one of Lockheed Martin’s pioneering missile designs created within an entirely “digital engineering ecosystem”.
Dimensions: Approximately 4 meters in length, with a diameter of 13 inches.
Weight: Close to 590 kg.
Operational Features:
Penetration Capabilities: Named after the fastest shark in the seas, the Mako missile is designed to engage time-sensitive targets and penetrate advanced air-defense systems. It can operate at or below hypersonic speeds depending on the mission requirements.
Strategic Impact:
Integration with Stealth Fighters: The missile’s compatibility with stealth fighter jets like the F-35 and F-22 Raptor enhances its strategic utility and effectiveness in modern aerial combat scenarios.
-Source: Financial Express
