3 October 2024

• Polity: Climate activist Sonam Wangchuk was detained while demanding Ladakh's inclusion in the Sixth Schedule of the Constitution.
• Economy: SEBI announced phased reforms to the Futures and Options segment, beginning with higher minimum contract sizes in November 2024.
• Science: Fluorescent nanodiamonds were levitated in vacuum at ultra-high speeds for the first time, opening applications in quantum physics and biological imaging.
• Governance: New data revealed only 13 per cent of High Court judges have publicly disclosed their assets.

GS area: Polity (Constitutional Provisions for Tribes)

Sonam Wangchuk and a group of activists were detained at Delhi's Singhu border while walking to demand Sixth Schedule status for Ladakh. The demand has been live since Ladakh became a Union Territory in 2019.

• Article 244 of the Constitution: Provides for the administration of Scheduled and Tribal Areas. The article bifurcates into two clauses: 244(1) for the Fifth Schedule and 244(2) for the Sixth Schedule.
• Fifth Schedule (Article 244(1)): Applies to Scheduled Areas in states such as Andhra Pradesh, Odisha, Gujarat, Maharashtra, Rajasthan, and Himachal Pradesh. It gives governors special powers over tribal areas and mandates Tribes Advisory Councils.
• Sixth Schedule (Article 244(2)): Currently applies to tribal areas in Assam, Meghalaya, Mizoram, and Tripura. It creates Autonomous District Councils with legislative, judicial, and financial powers. These councils can make laws on specific subjects and manage their own development funds.
• Why Ladakh wants the Sixth Schedule: Ladakh was carved out of Jammu and Kashmir as a Union Territory without a legislature. This left tribal communities with no local body to protect land rights, employment preferences, and cultural identity. A Union Territory without legislature cannot have a state legislature, so the Sixth Schedule's Autonomous District Councils are seen as the only viable protection mechanism.
• Limitations of the Sixth Schedule: Councils have limited fiscal autonomy. Political interference from the state or central level can undermine them. Bureaucratic delays have slowed development in existing Sixth Schedule areas.

Static linkage: Tribal administration, Union Territories (Polity).

GS area: Economy (Capital Markets)

The Securities and Exchange Board of India announced a package of reforms for the equity index derivatives segment. Retail traders have suffered heavy losses in the Futures and Options market and SEBI's move is aimed at reducing speculative excess.

• Phase 1 (effective 20 November 2024): Minimum index derivative contract size raised to 15 lakh rupees. The previous minimum was around 5 lakh rupees. Higher contract sizes effectively bar smaller retail traders from taking leveraged positions they cannot afford.
• Phase 2 (effective 1 February 2025): Upfront collection of options premium from buyers. Calendar spread benefits removed on expiry day, which is when losses are concentrated.
• Phase 3 (effective 1 April 2025): Intra-day position limit monitoring begins, preventing traders from building up large bets within a single trading session.
• Ongoing measure: An additional 2 per cent extreme loss margin on short options contracts on expiry day.
• Scale of the problem: SEBI data showed that nine out of ten individual traders in the F&O segment lost money. Aggregate retail losses in the segment have been in tens of thousands of crore rupees per year.

Static linkage: Capital market regulation, SEBI functions (Economy).

GS area: Government Schemes (Tribal Welfare)

The Ministry of Tribal Affairs launched the Dharti Aaba Janjatiya Gram Utkarsh Abhiyan, a saturation campaign across tribal villages.

• Total outlay: 79,156 crore rupees. Of this, 56,333 crore rupees comes from the Central government and 22,823 crore rupees from state governments.
• Coverage: 63,843 villages across 549 districts, 2,911 blocks, and 30 states and Union Territories.
• Convergence model: 25 interventions under 17 ministries are brought together in each target village. This avoids duplication and ensures that a single visit by a tribal household can address multiple welfare gaps.
• Education component: 728 Eklavya Model Residential Schools are to be functional by March 2026, serving 3.5 lakh students.

Static linkage: Tribal welfare schemes, Ministry of Tribal Affairs (Governance).

GS area: Governance (Judicial Accountability)

A study found that only 13 per cent of High Court judges across India have made their asset declarations publicly available online.

• Best performer: Kerala High Court, where 37 of 39 judges have declared assets online.
• Worst performers: Karnataka High Court had 2 of 50 judges. Madras High Court had 5 of 62.
• Existing framework: The Supreme Court adopted a resolution in 1997 calling for judges to declare their assets to the Chief Justice. This is voluntary and does not mandate public disclosure.
• Parliamentary committee recommendation: The Committee on Personnel in August 2023 recommended mandatory public disclosure of judicial assets.
• Courts' response: Many High Courts cite the Right to Information Act's exemptions for privacy as a reason not to publish assets online. Critics note that assets are already declared to a superior authority and publication should not raise fresh legal hurdles.

Static linkage: Judicial accountability, transparency in public office (Governance).

GS area: Government Schemes (Employment, Skill Development)

The Ministry of Corporate Affairs launched the PM Internship Scheme on 3 October 2024. The scheme places young people in internships within India's top companies.

• Scale: The scheme aims to offer one crore internships over five years across India's top 500 companies.
• Monthly stipend: 5,000 rupees per intern. Of this, 4,500 rupees comes from the government's CSR funds facilitated through the scheme and 500 rupees from the company.
• Eligibility: Candidates between 21 and 24 years of age. The scheme targets those who are not in full-time employment or formal education.
• Duration of internship: 12 months.

Static linkage: Skill development, government schemes for youth (Governance).

GS area: Science and Technology

Researchers levitated fluorescent nanodiamonds in a vacuum at 20 million revolutions per minute. This is relevant for several emerging technologies.

• What they are: Nanometer-sized particles of carbon, produced under high temperature and high pressure conditions. They are doped with nitrogen atoms during production, which creates luminescent defects in the crystal lattice.
• Key properties: Non-toxic to living tissue. Their fluorescence is stable over long periods and does not blink or fade, unlike many competing fluorescent materials.
• Applications: High-resolution imaging of biological structures at the microscale. Temperature sensing inside living cells. Quantum physics research. Rotation-sensing gyroscopes.
• Why levitation matters: Suspending the nanodiamonds in vacuum without physical contact allows their spin properties to be studied without interference from any surrounding medium.

Static linkage: Nanotechnology, quantum physics applications (Science and Technology).