 A very good evening aspirants, welcome to the Hindu newspaper analysis brought to you by Shankar IA's academy for the day 30th of July 2022. Displayed here are the list of news articles that we have chosen for today's discussion and note that specific topics are exclusively for your preliminary examination. Okay, now without wasting much time, let's get into the first news article discussion. Now have a look at this news article. The news article says that our Prime Minister launched the India International Bullion Exchange at Gandhi Nagar's gift, that is Gujarat International Finance Tech City. This is the first international bullion exchange in India. So in today's discussion, let us see some points about this India International Bullion Exchange. But before getting into that, let us first see what a bullion exchange is and then the need for setting up a bullion exchange. See, basically a bullion exchange is a market through which buyers and sellers trade gold and silver. So it is a place where precious metals are traded. See, we all know that we Indians have a huge appetite for gold. In 1921 alone, India imported 1069 tons of gold. To put this in perspective, just consider this. In 1991, we faced a balance of payment crisis and the country was forced to pawn gold to get money from the IMF. Am I right? During that time, India paid IMF 67 tons of gold. But last year alone, India imported 1069 tons of gold. What this means? See, this means that India's economic growth since the 1991 liberalization is immense. And the appetite for gold by our countrymen is increasing continuously. But the issue here is that, until now importing gold into our country is very rigidly controlled. Currently only nominated banks and agencies approved by the Reserve Bank of India can import gold. It is these nominated banks and agencies that sell gold to dealers and jewellers across the country. The jewellers cannot import gold directly. This is said to change now. As the India International Bullion Exchange is established, this is going to change. So right now after the establishment of India International Bullion Exchange or IABX, qualified jewellers will be permitted to import gold through the IABX. Or you can say India International Bullion Exchange. Here, qualified jewellers are jewellers who are notified by the International Financial Services Centres Authority i.e. IFSEA. Apart from the qualified jewellers, non-resident Indians and institutions will be able to participate on the exchange after registering with this IFSEA i.e. International Financial Services Centres Authority. Now having seen the basics, let us see the advantage of setting up an India International Bullion Exchange. First is with the establishment of this kind of exchange, all the bullion imports into India can be channeled through it. Next, the exchange will help in the price discovery process to occur organically. Here price discovery is nothing but the market price determined through interaction between the sellers and buyers. The next one is quality. See with all bullion imports into India channeled through this exchange, the quality of gold can be ensured. The major advantage is setting up of India International Bullion Exchange will ensure sourcing integrity. See gold can be sourced or bought from a variety of places. When the gold is sourced from a conflict area or if the gold is mined in war zones and if the gold is sold to finance conflicts, it is called blood gold. With India International Bullion Exchange, the presence of blood gold in India can be prevented and the sourcing integrity can be ensured. So that's all about this news article. See this news article is very much important for your upcoming means examination and also for your preliminary examination. See why I say this is important for upcoming means examination is it is the very first time that India is having this kind of bullion exchange. So you might be asked to analyze the advantages as well as the disadvantages in this kind of exchange that is initiated in India. See in this discussion we had covered what are all the advantages or what is the need of such a kind of exchange. You can directly utilize these points to enhance your main senses. Also if a preliminary type of question is asked regarding the India International Bullion Exchange, you can able to answer it with this information alone. Now with these key points in mind, now let's move on to the next news article discussion. Now have a look at this news article. This news article talks about the core sector output. See this graph here. It shows a month wise year on year growth of India's core sectors. It has expanded to 12.7% in June 2022. This is better when compared to last year's performance which stood at 9.4%. See coal, cement, electricity and refinery products rose to 15% or more and this is when compared with the June 2021 output levels. While if you take natural gas, steel and fertilizers all grew at a milder pace. And lastly take crude oil output it has dropped to 1.7% age from a year earlier. See this is the crux of the news article given here. In this context let us learn about the index of industrial production that is IIP. See the index of industrial production is an index that tracks manufacturing activity in different sectors of an economy. It is the key economic indicator of the manufacturing sector of the economy. It generally measures the industrial production for the period under review, usually a month as against the reference period. Generally there is a lag of 6 weeks in the publication of the IIP or the index of industrial production. This lag I am saying after the reference month ends. See the office of the economic advisor under the ministry of commerce and industry made the first attempt of compilation and release of IIP in the year 1950. This was made with the base year 1937 and the attempt to cover 15 important industries which accounted for more than 90% of the total production of the selected industries. And since 1950 the All India IIP is being released as a monthly series. And with the inception of the Central Statistical Organization in the year 1951, the responsibility for compilation and publication of IIP was vested with the Central Statistical Organization or CSO. See this CSO which operates under the ministry of statistics and program implementation is now known as National Statistics Office. That is NSO. See the IIP index data once released is also available on the PIB website. In order to capture the changes in the structure and composition of the industry over time, the IIP is periodically revised by changing its base. And this change of base is done to a more recent period. At present the IIP index is currently calculated using 2011 to 2012 as the base year. And note that the base year was changed to 2011 to 12 from 2004 to 5 and this was made in the year 2017. Among the various items included in the index of industrial production, electricity, crude oil, coal, cement, steel, refinery products, natural gas and fertilizers are the eight core industries. And these industries comprise about 40% of the total weight of items included in the index of industrial production. Remember mining, manufacturing and electricity are the three broad sectors in which IIP constituents fall. The NSO uses secondary data to reach the monthly IIP number and the data is sourced from various agencies in different ministries or departments of the government. The department of industrial policy and promotion is the source for the major chunk of data for the calculation. Okay, so that's all about this news article. In this news article we had discussed about the index of industrial production which is an important index to measure the performance of each sector. Okay, especially for calculating the performance of the core industrial sectors, this is very much important. And note that as mains is fast approaching you can utilize the data that we had discussed in this discussion. And also for your preliminary preparation regarding this index of industrial production whatever we discussed can be put up as a preliminary type of question. Okay, so with these key points in mind now let's move on to the next news article discussion. Now look at this news article. The news article says that CJI that is Chief Justice of India Mr. N.V. Ramana is about to retire. And yet there is no official announcement about who the next CJI or the Chief Justice of India is going to be. The memorandum of procedure of appointment of Supreme Court judges states that the appointment of CJI is based on seniority. So as per seniority next in line is Justice Yuyu Lalith. This is about the news article given here. So in this context let us see some points about the office of Chief Justice of India or CJI. First let us see about the selection process. See the office of the CJI or the Chief Justice of India is a constitutional body established under article 124. Article 124 clause 1 says that there shall be a Supreme Court of India consisting of a Chief Justice of India and judges of Supreme Court. See it is a convention to appoint the senior most judge of the Supreme Court as the CJI or the Chief Justice of India. This convention was followed from the year 1950 to 1973. See there are two instances where this convention was broken. First time it was in the year 1973 when Justice A. N. Ray was appointed as the Chief Justice of India by superseding three senior judges. Again in the year 1977 Justice M. U. Bed was appointed as the Chief Justice of India by superseding the then senior most judge. So although the senior most judge was appointed as the CJI the government had a discretion to change the convention. But this discretion of the government curtailed in 1993 by second judges case. So the current procedure for the appointment of CJI is the outgoing CJI recommends his successor. The union law minister forwards the recommendation to the prime minister who in turn advises the president about the CJI appointment. Finally as per clause 2 of article 124 the president appoints the CJI. See the Chief Justice of India has no specific term. He stays in office until he attains the age of 65 years. Having seen the selection and the term now let us see the powers of the CJI. The Chief Justice of India is considered as the first among the equals. He is also considered as the master of the rooster. He is considered as the administrative head of the supreme court. As a part of his administrative powers the CJI allocates the cases to the supreme court benches. The Chief Justice of India also decides the size of the benches. Finally the CJI is the head of the collegium and we know it is the collegium that plays the main role in the appointment of the judges of the supreme court. So that's all about this news article. See in this news article we covered an important topic for a preliminary examination that is Chief Justice of India. So we discussed about the appointment of CJI or the selection of CJI and we saw the powers in terms of the Chief Justice of India. So with these key points in mind now let's move on to the next news article discussion. Now have a look at this news article. The news article says that Manas Tiger Reserve has more tigers than tigers. In Manas the number of tigers is 2.4 times the number of tigers. This observation was made using the camera trap assessment stipulated by National Tiger Conservation Authority that is NTCA. So this is about the news article given here. In this context let us see some points about the NTCA. See NTCA is a statutory body. It has been constituted under the Wildlife Protection Act 1972. It was established in December 2005 following a recommendation of the Tiger Task Force. The Minister of Environment and Forest is the chairman of NTCA. He is assisted by a wise chairperson who is Minister of State in charge of the Ministry of Environment, Forest, Climate Change. Now let us see the functions of NTCA. See the most important function of NTCA is the administration of Project Tiger. Then in regards to the Tiger Reserves in India all the Tiger Reserves are administered according to the guidelines said by the NTCA. Also note that no alteration in the boundaries of Tiger Reserves can be made except on the recommendation of the NTCA. See this recommendation of NTCA must be approved by the National Board for Wildlife. See each state that has a wild Tiger population must prepare a Tiger Conservation Plan. And this plan must be approved by the NTCA. The NTCA also evolves management processes to prevent the man-animal conflict that occurs in the Tiger Reserves. See the NTCA also facilitates research on Tiger, its co-predators, its prey and its ecology. So these are the functions of the NTCA. Before concluding let us also see about the M Stripes. See M Stripes is nothing but a monitoring system for Tiger Intensive Protection and ecological status. This app was developed by the National Tiger Conservation Authority and the Wildlife Institute of India. This was developed in the year 2010. The M Stripes program uses global positioning system that is GPS, then the General Packet Radio Services, GPRS and remote sensing in order to develop a database. This database will help in ensuring effective patrolling and mitigate human wildlife conflict in and around the Tiger Reserves. Okay, so that's all about this news article. In this news article we covered about an authority which is the National Tiger Conservation Authority. See and regarding the Tiger Conservation, yesterday Ketna Mam had exclusively covered regarding its conservation process. What are all the needs and conflicts in conserving the Tiger population? Okay, so if you are keenly observing our news analysis regularly you will be able to have a holistic cover of each and every topic that is mentioned in our syllabus. Okay, and regarding this NTCA there might be a direct preliminary question also for you. Okay, so make use of this discussion with these key points in mind. Now let's move on to the next part of the news article discussion which is the preliminary practice question discussion. See today we have four questions in which two questions I'll be discussing and two questions will be a quiz question for you. Okay, now look at this first question. See it is regarding the International Financial Services Centres Authority that we saw in our today's discussion. That is we saw in our today's Boolean Exchange discussion. Here two statements are given and whenever two statement question comes you have to go through all the statements before arriving at the answer. For this question the answer is option C both 1 and 2. See the central government has established the International Financial Services Centres Authority. This is to regulate all financial services in international financial services centres. Okay, and it was established as a statutory authority under the International Financial Services Centres Authority Act 2019. Okay, and it is a single window regulatory institution that would regulate the development of India's first IFSC at Gift City at Gandhi Nagar. Okay, so here the answer for this question is option C both 1 and 2 are correct statements. Okay, so with this question you will be able to know about this authority today. Okay, now let's move on to the second question. See the second question is framed regarding the judges of High Court. Here three statements are given. So if you just try to eliminate one statement or if you find that one statement is incorrect you will be able to eliminate few options and you can apply here the elimination technique. Okay, now look at the first statement. See the judges of High Court can resign by writing to the governor. This statement is absolutely incorrect. We know that the judges of High Court can resign by writing to the president and not governor. So if you find the statement is incorrect and look at the question they are asking for correct statements. So you can eliminate options whichever is containing the statement 1. So here I am going to eliminate three options and we will directly arrive at the answer which is option B, 2 and 3 only. Now let me read out the statement 2 and 3 which are correct. See judges of High Court has to vacate his or her office when he or she is appointed as a judge of the Supreme Court or when he or she is transferred to another High Court. That statement is correct. And look at the third statement. The process of impeachment of a High Court judge is similar to that of a judge of a Supreme Court. Yes, that is also correct. See the judges of a High Court can be removed when the motion seeking their removal is passed by a two-third majority in parliament which is similar to that of the removal of the Supreme Court judge. Okay, so the answer for this question is option B, 2 and 3 are only the correct statements. Now to split here are two questions for you. One question is a very easy question that is regarding the index of industrial production. That question you can easily answer. And the other question is a par-based question. See go through all the given tiger reserves and locate them in the India map and go through them and this will be very much useful for your preliminary examination. The answer for both the questions will be put up in the comment section. Okay. And I wish you all to go through the question and try answering the question. Let me give you 24 hours time to answer these questions. Okay. So that's all for today's discussion. If you like this video, do like, share and comment and don't forget to subscribe to the Shankar Ayes Academy's YouTube channel. Thank you for listening.