DAILY CURRENT AFFAIRS ANALYSIS

29^th December 2021

1 -ABOUT THE GI TAG: 

Prelims Specific Topic

• About the GI Tag:
• It’s a symbol that appears on products with a particular geographical origin and has evolved through millennia in terms of special quality or reputed features.
• It serves as a seal of approval, ensuring that only registered authorized users, or at the very least those who reside within the geographic territory, are permitted to use the popular product names.
• The Geographical Indications of Goods (Registration and Protection) Act, 1999 governs GI tags in India. The Geographical Indications Registry issues it (Chennai).
• GI Tag’s Advantages:
• It gives Indian Geographical Indications legal protection, forbidding others from using them without permission.
• It supports the economic well-being of producers of items produced in a certain geographical area.
• The GI protection in India causes the product to be recognized in other countries, resulting in increased exports.

• Source – The Hindu – 29/12/21 – Page Number 12

2 – ABOUT THE ELECTION OF SPEAKER:

GS II

Topic – Parliament related issues

• About:
• The Speaker’s Office in India is a live and dynamic organization that deals with Parliament’s current demands and difficulties as it performs its tasks.
• Both the Speaker and the Deputy Speaker are elected under Article 93 of the Constitution.
• The Speaker is the House’s constitutional and ceremonial leader.
• The presiding officer of each House of Parliament is different.
• The Lok Sabha has a Speaker and a Deputy Speaker, whereas the Rajya Sabha has a Chairman and a Deputy Chairman.
• Criteria for Speaker Election:
• The Speaker must be a member of the House of Commons, according to the Indian Constitution.
• Although no formal qualifications are required to be elected Speaker, a thorough understanding of the country’s Constitution and legislation is seen as a major asset for those who occupy the position.
• Speaker is usually elected by a member of the ruling party. Over the years, the procedure has evolved to the point where the dominant party nominates its candidate after informal consultations with other parties and groupings in the House.
• This practice assures that the Speaker, once chosen, is respected by all members of the House.
• Voting:
• The Speaker (together with the Deputy Speaker) is elected by a simple majority of the Lok Sabha members present and voting in the House.
• Once a candidate has been chosen, the Prime Minister or the Minister of Parliamentary Affairs usually proposes his or her name.
• Speaker’s Term of Office: The Speaker’s term of office runs from the day of his or her election until the first meeting of the next Lok Sabha (for 5 years).
• Once elected, the speaker is eligible for re-election.
• When the Lok Sabha is dissolved, the Speaker does not step down and remains in office until the newly elected Lok Sabha convenes.
• Source – The Hindu – 29/12/21 – Page Number 7

3 – DETAILS OF THE SEBI:

GS II

Topic – Statutory and Non-Statutory Bodies

• About SEBI:
• The Securities and Exchange Board of India (SEBI) was founded on April 12, 1992, under the provisions of the Securities and Exchange Board of India Act, 1992.
• The Securities and Exchange Board of India’s primary responsibilities are to safeguard the interests of investors in securities and to promote and regulate the securities market.
• Background of SEBI:
• Before SEBI, the regulating authority was the Controller of Capital Issues, which had authority under the Capital Issues (Control) Act of 1947.
• A resolution of the Government of India established the SEBI as the regulator of capital markets in India in April 1988.
• SEBI began as a non-statutory organisation with no statutory authority.
• The SEBI Act of 1992 gave it autonomy and statutory powers.
• The SEBI has its headquarters in Mumbai. The SEBI has regional offices in Ahmedabad, Kolkata, Chennai, and Delhi.
• Structure of SEBI:
• A Chairman and many other full-time and part-time members make up the SEBI Board.
• SEBI also appoints other committees as needed to investigate the most important issues at the time.
• A Securities Appellate Tribunal (SAT) has also been established to protect the interests of entities who believe they have been wronged by SEBI’s decision.
• A Presiding Officer and two additional members make up the SAT.
• It has the same authority as a civil court. Furthermore, anyone who is dissatisfied with the SAT’s decision or order can file an appeal with the Supreme Court.

• Source – The Hindu – 29/12/21 – Page Number 1

4 – DETAILS OF THE INSPIRATION-4 MISSION OF SPACE X:

Prelims Specific Topic:

• Background:
• Elon Musk’s SpaceX recently announced that ‘Inspiration-4,’ the company’s first all-civilian, non-government mission, will launch on September 15.
• NASA’s Kennedy Space Center in Florida is preparing to launch the Crew Dragon spacecraft.
• A party of four private citizens will be sent into space for three days.
• Who will undergo the journey:
• Jared Isaacman, the creator of the financial business Shift4 Payments, has purchased all four seats aboard the spacecraft.
• This is part of a fundraising campaign for St. Jude Children’s Research Hospital in Memphis, Tennessee, a paediatric treatment and research institution that specializes in children’s catastrophic diseases, such as leukemia and other malignancies.
• current events
• What is Inspiration-4 Mission and how does it work:
• The mission entails three days of orbiting the Earth before splashing into the Atlantic Ocean.
• Inspiration-4 will orbit the Earth at a distance of 575 kilometers, exceeding the International Space Station (408 kilometers) and the Hubble Space Telescope (547km).
• This will be the longest journey by a crewed mission since 2009, when astronauts returned to repair the Hubble Space Telescope.
• The Dragon module that the party will be employing for the operation has also been updated.
• What is the significance of the journey:
• The expedition, according to sources, will provide an opportunity to collect vast volumes of health data that will aid in the design of future crewed space flights.
• This will also aid in the evaluation of behavioural and cognitive changes as the journey progresses.
• Inspiration4 is considered as part of an initiative to open up space travel to non-professionals, similar to the previous space adventures of billionaires Jeff Bezos and Richard Branson.
• Source – The Hindu – 29/12/21 – Page Number 13

5 – ABOUT THE MOLNUPIRAVIR CAPSULES:

Prelims Specific Topic:

• About Molnupiravir:
• Molnupiravir is a type of antiviral drug.
• It’s a nucleoside analogue, which is a type of broad-spectrum antiviral medication.
• They work by interfering with the activity of viral RNA (Ribonucleic Acids) polymerases, which are enzymes that help infected cells generate new viral RNA.
• RNA is a polymer of ribonucleotides that is found in all biological cells and is an essential biological macromolecule.
• It is primarily engaged in protein synthesis, transporting messenger instructions from Deoxyribonucleic acid (DNA), which provides the genetic information necessary for life’s development and maintenance.
• It operates by causing viruses to make mistakes when duplicating their own RNA, resulting in alterations that prevent them from replicating.
• It was first developed as an antiviral treatment for the influenza virus.
• Mechanism of action:
• These medications function by blocking the virus from replicating inside human cells.
• Viruses are biological agents that can replicate themselves within a host cell. Viruses can cause infected cells to make thousands of new copies of the original virus at an incredible rate.
• It interferes with the virus’s ability to replicate in human body cells by altering key enzymes.
• The drug’s Emergency Use Authorization is still pending, however it can now be used as a tablet in a 5-day regimen.

• Source – The Hindu – 29/12/21 – Page Number 12