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31 January 2025: Daily CA Updates

Writer's picture: Avijeet KumarAvijeet Kumar
  1. National Critical Mineral Mission Why in the News: The Union Cabinet has approved the launch of the National Critical

    Mineral Mission (NCMM) with an expenditure of Rs. 16,300 crore.

    • Definition:

    • The Indian government has sanctioned the National Critical Minerals Mission (NCMM) with a total budget of 34,300 crore for a seven-year period.

    • This initiative is designed to minimize reliance on imports, strengthen domestic exploration and processing, and accelerate India's transition to green energy technologies.

    - Implementation:

    • To be implemented by the Ministry of Mines over seven years until 2030-31 (FY31).

    • Objectives:

    • Enhancing Processing and Recycling Capabilities: Investment will be promoted in mineral processing parks, recycling technologies, and research focused on sustainable extraction techniques.

    • Acquiring Overseas Mineral Assets: Public sector enterprises and private firms will be encouraged to secure mineral resources abroad to maintain a consistent supply of essential minerals.

    • Regulatory and Financial Support: The initiative will streamline approval processes and introduce financial incentives to support mineral exploration and development.

    • Boosting Domestic Exploration: A substantial share of the mission's funds will be directed

    • towards intensifying mineral exploration efforts both on land and in offshore regions.

  2. Paris Summit 2025 Why in the news: France will host the 'Summit for Action on Artificial Intelligence' in

    Paris from February 10-11, co-chaired by India.

    > Definition: The Paris Al Summit, initiated by French President Emmanuel Macron, is dedicated to global artificial intelligence governance, fostering innovation, and promoting Al for the public good.

    > India's Participation: Indian Prime Minister Narendra Modi will co-chair the summit, having accepted the invitation to participate in this international dialogue on AI.

    > Key Themes: The event will focus on five key themes:

    • Public Interest AI

    • The Future of Work

    • Innovation and Culture

    • Trust in Al

    • Global Al Governance

    • Key Objectives:

    • Addressing Market Concentration: The summit seeks to examine the dominance of major technology corporations, such as Microsoft, Alphabet, Amazon, and Meta, in foundational Al models.

    • Enhancing Al Governance: Discussions will focus on strategies for ethical Al development, regulation, and fair market competition.

    • Encouraging Multistakeholder Collaboration: The event aims to bring together a diverse range of participants, including government officials, business leaders, researchers, and civil society representatives.

  3. Indian Squid

    Why in the news:Central Marine Fisheries Research Institute in Kochihas decoded gene

    expression of Indian Squid

    > Definition: The Indian squid, also referred to as the Indian calamari, is a species of cephalopod commonly found along the coastal waters of India.

    > Characteristics of Indian Squid:

    o Size: Typically measures between 20 to 30 cm, though some individuals can grow up to 50 cm.

    Coloration: Displays a light pinkish-gray body with two large fins on either side.

    • Anatomy: Possesses eight arms and two elongated tentacles, which are used for capturing prey.

    Mobility: A swift swimmer, utilizing jet propulsion for rapid movement through the water.

    • Respiration: Prefers environments with high dissolved oxygen levels, which are essential for its survival.

    > Habitat of Indian Squid:

    • Found in diverse marine habitats within the Indian Ocean.

    • Inhabits both coastal waters and deeper offshore regions.

    • Typically resides at depths ranging from 100 to 500 meters, though some species are found as deep as 1,500 meters.

    > Distribution of Indian Squid:

    o Occurs across the Indo-West Pacific region, including the Indian Ocean, Red Sea, and Arabian Sea.

    Its range extends eastward from Mozambique to the South China Sea and the Philippine Sea.

    • Found as far north as Taiwan.

    > IUCN Status: Listed as Least Concern, indicating a stable population without immediate threats.

  4. Harmful Algal Blooms Why in the news: Marine scientists have warned of the increasing frequency and intensity of the harmful algal blooms (HAB) posing the threat of food-borne diseases among fish consumers.

    > Definition:

    • Under specific environmental conditions, algae in water bodies can grow rapidly, leading to algal blooms.

    • These blooms appear as visible patches in various colors, such as green, blue-green, red, or brown, depending on the algae species.

    • They can occur in freshwater, marine (saltwater), and brackish water (a mix of fresh and saltwater).

    While most algal blooms are harmless and serve as a food source for marine organisms, some pose risks to human health and aquatic ecosystems. These are termed Harmful Algal Blooms (HABs).

    • Causes of HABs:

    • Several environmental factors contribute to the formation of HABs, including:

    • Warmer water temperatures, particularly in summer, which accelerate algae growth

    • Excessive nutrient influx, primarily from fertilizers, sewage discharge, and agricultural runoff, leading to nutrient enrichment in water bodies.

    • Although multiple types of algae can trigger HABs, three groups are responsible for most toxic blooms:

    • Cyanobacteria (blue-green algae)

    Dinoflagellates

    / Diatoms

    > Impacts of HABs:

    • Production of toxins: HABs can release harmful toxins that, depending on their concentration and type, may cause acute or chronic diseases in humans and animals.

    • Oxygen depletion: As algae die and decompose; they consume oxygen, leading to hypoxia (low oxygen levels), which can be fatal for fish and other aquatic life.

    • Disruption of aquatic ecosystems: Blooms near the water surface can block sunlight, preventing underwater plants and organisms from performing photosynthesis, thereby disrupting the aquatic food chain.

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