• 24 Apr 2024

No Manufacturing Unit from Bihar on Stock Exchange

Why in News?

Bombay Stock Exchange (BSE) has over 66.5 lakh registered investors. The third most populous State in the country, Bihar, does not have a single manufacturing unit listed on the stock exchange.

Key Points

• Data from BSE shows that, although Bihar accounts for just 2.65% of the total number of registered investors on BSE, it has witnessed a rise of over 10% in the last quarter and over 47% in 2023.
• Before the separation of Bihar and Jharkhand, the region encompassed both an agriculture-based and consumer-based economy, as well as a thriving mineral and manufacturing sector.
  • After separation, Bihar found itself predominantly relying on agriculture and consumer-centric industries. This transition had significant implications for Bihar’s economic landscape.
  • The absence of a robust manufacturing sector, coupled with limited access to essential resources, has hindered the state’s ability to compete on a national scale.
• To attract industry, in 2023 the State government organized Bihar Business Connect summit in Patna, where Memorandums of Understanding (MoUs) were signed for Rs 50,500-crore investment proposals.
  • The government showed opportunities in Textiles, leathers, IT/ITeS & ESDM, Food Processing, and Hospitality & Tourism sectors.
• Bihar is plagued with negative stereotypes and misconceptions that deter potential investors. Conducting roadshows, engaging in awareness campaigns, and leveraging platforms like CII can play pivotal roles in reshaping perceptions.

Stock Market

• Stock markets are venues where buyers and sellers meet to exchange equity shares of public corporations.
• Stock markets are components of a Free-Market economy because they enable democratized access to investor trading and exchange of capital.
  • A free-market economy is an economic system in which the prices of goods and services are determined by supply and demand, without interference from government regulation.
• India has two stock exchanges – the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
• Securities and Exchange Board of India (SEBI) is the regulator of the securities market in India. They set the legal framework and regulate all entities interested in operating in the market.
  • The SCRA (Securities Contracts Regulation Act),1956 has empowered SEBI to recognise and regulate stock exchanges and later commodity exchanges in India; this was earlier done by the Union government.

Forest Fire in Uttarakhand

Why in News?

According to the Uttarakhand forest department, 477 incidents of forest fires have been reported from the state so far in 2024 in which over 379.4 hectares of forest land have been damaged.

Key Points

• Of 379.4 hectares which were damaged, 136.4 hectares were damaged in the Garhwal region, 202.82 hectares in the Kumaon region and 40.2 hectares in the administrative wildlife regions.
• According to forest officials, forest fires have become an annual feature and with the change in weather conditions resulting in soaring temperatures, Uttarakhand starts experiencing forest fires in mid-February, when the trees shed dry leaves and the soil loses moisture due to a rise in temperature, and this continues till mid-June.
  • Since 2000, when the state was carved out of Uttar Pradesh, over 54,800 hectares of forest land have been damaged till now in forest fires.

Forest Fire

• Also called bush or vegetation fire or wildfire, it can be described as any uncontrolled and non-prescribed combustion or burning of plants in a natural setting such as a forest, grassland, brushland or tundra, which consumes the natural fuels and spreads based on environmental conditions (e.g., wind, topography).
• A wildfire requires three essential elements to sustain combustion like Fuel, Oxygen, and a Heat source.

National Parks in Madhya Pradesh

Why in News?

Madhya Pradesh, often referred to as the "Heart of India," is renowned for its rich biodiversity and natural landscapes. The state is home to a total of 11 national parks, each offering a unique ecosystem and a diverse array of flora and fauna.

Key Points

• From dense forests to sprawling grasslands, Madhya Pradesh's national parks provide habitat to a wide variety of wildlife, including Bengal tigers, leopards, deer species like barasingha, and numerous bird species.
• The parks also play a crucial role in the conservation of endangered species and contribute significantly to the state's eco-tourism sector.
• Bandhavgarh National Park:
  • Known for its high density of Bengal tigers, Bandhavgarh National Park is one of the most popular tiger reserves in India. It also houses various other wildlife species such as leopards, deer, and numerous bird species.
• Kanha National Park:
  • Famous for its diverse wildlife and lush landscapes, Kanha National Park inspired Rudyard Kipling's The Jungle Book. It is renowned for its significant population of Bengal tigers, as well as barasingha (swamp deer) and other species of deer.
• Dinosaur Fossil National Park:
  • Located in Dhar district, this national park preserves the fossilised remains of dinosaurs that roamed the region millions of years ago. Visitors can explore the fossil beds and learn about the prehistoric creatures that once inhabited the area.
• Ghughua Fossil National Park:
  • Situated near Shahpura, Ghughua Fossil National Park is renowned for its large collection of plant fossils dating back to the Jurassic period. Visitors can observe the well-preserved fossils embedded in the rocks.
• Kuno National Park:
  • It was initially established as a wildlife sanctuary in 1981. It covers an area of 344.686 sq km in the Sheopur and Morena districts. The main predators in the area include the Indian leopard, Southeast African cheetah, jungle cat, sloth bear, dhole, Indian wolf, Indian jackal, striped hyena, and Bengal fox. Ungulates found here include chital, sambar, nilgai, chousingha, chinkara, blackbuck, and wild boar.
• Madhav National Park:
  • Nestled in the Vindhya Range (Gwalior district), Madhav National Park is characterised by its diverse flora and fauna, including deer, leopards, and various bird species. It also surrounds the scenic Madhav Sagar Lake.
• Panna National Park:
  • It is renowned for its efforts in tiger conservation and is home to a significant population of these majestic cats. The park also boasts a rich biodiversity, including various species of deer, antelope, and birds.
• Pench National Park:
  • Located on the border of Madhya Pradesh and Maharashtra, Pench National Park is famous for its dense forests and diverse wildlife. Visitors can spot tigers, leopards, sloth bears, and a variety of bird species.
• Sanjay National Park:
  • This national park, located in the Chhattisgarh-Madhya Pradesh border region, is known for its pristine forests and diverse flora and fauna. It is a part of the Sanjay-Dubri Tiger Reserve and provides habitat for tigers, leopards, and other wildlife.
• Satpura National Park:
  • It is characterised by its rugged terrain, deep valleys, and dense forests. It offers a unique experience of exploring the wilderness through jeep safaris, boat rides, and walking trails, allowing visitors to encounter wildlife like tigers, leopards, and sloth bears.
• Van Vihar National Park:
  • Situated in Bhopal, Van Vihar National Park is a unique urban national park that aims to conserve biodiversity within an urban setting. It provides a natural habitat for various species of animals, including deer, monkeys, and birds, and offers a serene environment for visitors to enjoy nature walks and wildlife viewing.

Hate Speech

Why in News?

The Election Commission (EC) is examining the complaint made against the speech made by Prime Minister Narendra Modi at a rally in Rajasthan.

Key Points

• About Hate Speech:
  • In the 267th Report of the Law Commission of India, hate speech is stated as an incitement to hatred primarily against a group of persons defined in terms of race, ethnicity, gender, sexual orientation, religious belief and the like.
    • The context of speech is crucial in determining whether it constitutes hate speech or not.
  • It can cause harm to the targeted individuals and groups, as well as to the society at large, by inciting hatred, violence, discrimination, and intolerance.
• Freedom of Speech and Hate Speech:
  • Article 19(1)(a) of the Indian Constitution guarantees freedom of speech and expression as a fundamental right for all citizens.
  • Article 19(2) imposes reasonable restrictions on this right, balancing its use and misuse.
    • Restrictions are allowed in the interests of sovereignty, integrity, security, friendly relations with foreign states, public order, dignity, morality, contempt of court, defamation, or instigation of an offence.

Law Commission of India

• The Law Commission of India is a non-statutory body constituted by the Government of India from time to time.
  • The first Law Commission of independent India was established in 1955 for a three-year term.
  • The first Law Commission was established during the British Raj era in 1834 by the Charter Act of 1833 and was chaired by Lord Macaulay.
• It works as an advisory body to the Ministry of Law and Justice.
• The Law Commission undertakes research in law and review of existing laws in India for making reforms therein and enacting new legislations on a reference made to it by the Central Government or suo-motu.

Notice on Jharkhand Mukti Morcha's Plea Against Lokpal Order

Why in News?

The Delhi High Court issued notice on a plea moved by Jharkhand Mukti Morcha against an order passed by the Lokpal of India directing the Central Bureau of Investigation (CBI) to investigate two properties which are under the party's name.

Key Points

• The order was passed on a complaint against Rajya Sabha MP. The Lokpal had directed CBI to probe the alleged benami properties linked to the MP within six months.
• It was submitted that the impugned order is beyond the jurisdiction of the Lokpal of India under the Lokpal and Lokayuktas Act, 2013.

Lokpals

• About:
  • The Lokpal and Lokayukta Act, 2013 provided for the establishment of Lokpal for the Union and Lokayukta for States.
  • These institutions are statutory bodies without any constitutional status.
• Functions:
  • They perform the function of an "ombudsman” and inquire into allegations of corruption against certain public functionaries and for related matters.

Central Bureau of Investigation (CBI)

• It is the premier investigating police agency in India.
  • It provides assistance to the Central Vigilance Commission and Lokpal.
• It functions under the superintendence of the Deptt. of Personnel, Ministry of Personnel, Pension & Public Grievances, Government of India - which falls under the prime minister’s office.
  • However, for investigations of offences under the Prevention of Corruption Act, its superintendence vests with the Central Vigilance Commission.
• It is also the nodal police agency in India which coordinates investigation on behalf of Interpol Member countries.
• Its conviction rate is as high as 65 to 70% and it is comparable to the best investigation agencies in the world.

Haryana Launches App to Check Queue at Poll Booths

Why in News?

Recently, Haryana launched ‘voters-in-queue’ mobile app to provide voters with information about the queue at polling centres. This would help voters to go and vote at their convenience.

Key Points

• Haryana, which has 10 Lok Sabha constituencies, will go for single-phase polling on 25th May 2024.
• The ‘voter-in-queue’ app has been approved for use by the Election Commission of India.
• It will be operational in 30 urban Assembly constituencies. Through this, voters can see the live crowd at the polling centers on the day of the election.