Dal Lake 

Location: 

• It is a lake in Srinagar, the summer capital of Jammu and Kashmir. 

• It is surrounded by the Pir Panjal mountains. 

• It is integral to tourism and recreation in Kashmir and is named the “Jewel in the crown of Kashmir” or “Srinagar’s Jewel”. 

• Spread across an area of around 26 square kilometers, it is the second-largest lake in Jammu & Kashmir. 

• During the winter season, the temperature sometimes reaches −11 °C (12 °F), freezing the lake. 

• The lake is part of a natural wetland which covers 21.1 square kilometers (8.1 sq. mi), including its floating gardens. The floating gardens, known as “Raad” in Kashmiri, blossom with lotus flowers during July and August. 

• The wetland is divided by causeways into four basins; Gagribal, Lokut Dal, Bod Dal and Nagin (although Nagin is also considered as an independent lake). 

Islands: 

• Dal Lake includes 3 islands, 2 of which are marked with beautiful Chinar trees. 

• The island located on the Lakut Dal is known as Roph Lank (Silver Island), is marked with the presence of majestic Chinar trees at the four corners, thus known as Char-Chinari (Four Chinars). 

• The second Chinar Island, known as Sone Lank (Gold Island), is located on the Bod Dal (Big Dal) and overlooks the holy shrine of Hazratbal. 

• Dal Lake is also popular for the floating market (known as Raad) where vendors have their own Shikaras and approach tourists.

NJAC: - 

Background: 

• On 16 October 2015, in a 4-1 majority verdict, the Supreme Court held that both the Constitution (Ninety-ninth Amendment) Act, 2014, and the National Judicial Appointments Commission (NJAC) Act, 2014, were unconstitutional as it would undermine the independence of the judiciary. 

• The majority said the two laws affect the independence of the judiciary, and judicial appointments, among other things, should be protected from executive control. 

About NJAC and the Act: 

• NJAC is a body responsible for the appointment and transfer of judges to the higher judiciary in India. NJAC Bill sought to replace the collegium system of appointing the judges of Supreme Court and High Courts with judicial appointments commission wherein the executive will have a say in appointing the judges. 

• A new article, Article 124A, (which provides for the composition of the NJAC) was to be inserted into the Constitution. The Bill provided for the procedure to be followed by the NJAC for recommending persons for appointment as Chief Justice of India and other Judges of the Supreme Court (SC), and Chief Justice and other Judges of High Courts (HC). 

Composition of NJAC: 

• The Chief Justice of India as the ex officio Chairperson 

• Two senior-most Supreme Court Judges as ex officio members 

• The Union Minister of Law and Justice as ex officio member 

• Two eminent persons from civil society (to be nominated by a committee consisting of the Chief Justice of India, Prime Minister of India and the Leader of Opposition in the Lok Sabha.

Golden Globe Awards 

• Golden Globe Award, presented annually by the Hollywood Foreign Press Association (HFPA), is a recognition of outstanding achievement in motion pictures and television during the previous year. 

• The Golden Globes are considered second in importance both to the Academy Awards (or Oscars) for films. 

About: 

• Superconductors are materials that exhibit zero electrical resistance when cooled to extremely low temperatures. This property allows them to conduct electricity with no loss of energy. 

• Example: Lanthanum-Barium Copper Oxide, Yttrium-Barium Copper Oxide, Niobium-Tin etc. 

Discovery: 

• In 1911 Kamerlingh One’s discovered that the electrical resistance of mercury completely disappeared at temperatures a few degrees above absolute zero.

• The phenomenon became known as superconductivity. Applications of Superconductors: 

• Energy Transmission:

• Superconducting cables can transmit electricity without losses, making them ideal for long-distance power transmission. 

News 

• A group of South Korean scientists have recently claimed the discovery of a material they named LK-99. According to their reports, LK-99 is a superconductor at room temperature and pressure. 

• This groundbreaking claim has piqued the interest of the scientific community and could potentially revolutionize the world of electrical conductivity and technology.

The Implications of LK-99: 

• If the claims of LK-99 being a room temperature superconductor are confirmed, it could usher in a new era for electrical conductivity and technology. 

• The widespread application of superconductors in everyday devices could lead to increased energy efficiency, reduced power losses, and the development of revolutionary technologies.

Context: - 

• India is currently immersed in discussions regarding its economic trajectory and the strategies required to achieve its development goals. Amidst these conversations, a notable distraction arises as commentators fixate on the ambitious target of India becoming a $5 trillion economy by 2025. However, this goal, primarily centered around aggregate Gross Domestic Product (GDP), overlooks the critical focus on improving the well-being of the average citizen, emphasizing the need to shift attention to GDP per person. Current Challenges in India’s Growth Trajectory Reimagining India’s.

 Economic Future: 

• Raghuram Rajan and Rohit Lamba's book, "Breaking the Mould: Reimagining India’s Economic Future," prompts a critical examination of India's growth model. 

• It questions whether prioritizing service sector growth over industrial growth can lead to sustainable development, deviating from the historical patterns observed in developed and industrializing economies. 

Manufacturing Sector Challenges: 

• India has faced challenges in expanding its manufacturing sector's share in the economy, with growth plateauing at or below 20%. 

• This raises concerns about India bypassing a typical stage in development, moving from agrarian to a predominantly service-based economy, and the sustainability of such a transition. 

Global Business Service Growth Opportunity:

• Rajan and Lamba identify an opportunity for India in the world business service growth facilitated by the sophistication of information technology. 

• As global firms increasingly outsource business services, India could play a significant role, provided it can address the challenge of scalability. 

Employment Crisis and Youth Aspirations: 

• India is experiencing an employment crisis, particularly among the youth (15-24 age group) with an unemployment rate exceeding 40%. Aspirations of young workers are high, and the country needs expedited measures to incentivize substantial job creation by private employers. 

Service Sector Model Challenges: 

• The current service sector in India, while experiencing growth in high-tech services, faces a challenge in job creation, particularly in low value-added, low-skill services. 

• The segmentation of the sector raises questions about its ability to generate income streams aligned with the aspirations of the youth.

Skill Deficit and Higher Education Quality: 

• India's skill deficit poses a significant challenge to the service sector-led model. Despite producing 2.2 million STEM graduates, a majority are considered unemployable due to inadequate training. 

• Addressing this requires sustained investment in higher education to create a skilled workforce for higher human capital sectors.

PLI Scheme and Immediate Job Generation: 

• The Production-Linked Incentive (PLI) scheme is seen as an attempt to address the immediate jobs challenge by attracting businesses to set up production centers in India. 

• However, concerns exist about the scheme being production-linked rather than employment-linked, and uncertainties about the longevity of businesses after incentive schemes end.

• Need for Comprehensive Economic Approach: 

• India's jobs problem requires a comprehensive approach that combines both manufacturing and service sector models. 

• Beyond the PLI schemes, incentivizing private industry to scale up is crucial, and this demands land and labor regulatory reforms. These reforms, while fiscally costless, may face political challenges. 

• Urgency in Addressing Demographic Challenges: 

• With a median population age of 28, India's demographic dividend could turn into a curse without prompt and comprehensive action. 

• Combining high value-added job creation, regulatory reforms, and increased investment in higher education is essential to ensure sustainable economic growth. Growth Drivers of the Manufacturing and Services Sector in India 

Manufacturing Sector: 

• Government Investment Boost: n the latest budget, the Indian government allocated substantial funds, Rs. 2,403 crores for Electronics and IT Hardware Manufacturing and Rs. 757 crores for Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME - India) in 2022-23. 

• This strategic investment aims to bolster the manufacturing sector and drive advancements in electric vehicle technology. Enhancing Competitiveness: India possesses key factors essential for a significant industrial push, including a large semi-skilled labor force, government initiatives like Make in India, substantial investments, and a vast domestic market. 

• To further boost competitiveness, the government provides incentives such as free land for establishing bases and uninterrupted 24*7 power supply, placing India on a global competitive scale. 

Robust Domestic Demand: 

• With the Indian middle class projected to contribute 17% to global consumption by 2030, the domestic market is set for substantial growth. 

• The Appliances and Consumer Electronics (ACE) market in India is anticipated to expand from USD 11 billion in 2019 to USD 21 billion by 2025, indicating a robust demand for manufactured goods.

Services Sector: 

Services Trade Surplus as a Balancing Factor: 

• The persistent surplus in India's services trade has historically helped offset the substantial deficit in merchandise shipments. 

• In the fiscal year 2020-21, this surplus reached a notable figure of up to $89 billion.

• With strategic government interventions and renewed emphasis, there is potential for further growth in services trade surplus, possibly eliminating the deficit caused by merchandise exports. 

Driving Transition to a Knowledge-Based Economy: 

• The services sector plays a pivotal role in propelling India's shift from an 'assembly economy' to a 'knowledge-based economy.' 

• This transition is crucial for the country's economic evolution and global competitiveness. 

• The services trade surplus acts as a significant driver in this transformation, emphasizing the increasing importance of knowledge-centric activities. 

Skill India Program for Workforce Development: 

• To support the growing services sector and enhance India's global standing, the Skill India program has been initiated. 

• This program aimed to provide comprehensive training in market-relevant skills to over 40 crore youth by 2022. 

• By investing in skill development, the government aims to create a workforce that aligns with the demands of the evolving services-driven and knowledge based economy. Government Initiatives for Growth of the Industrial Sector in India 

• Production-Linked Incentive (PLI) - To scale up domestic manufacturing capability. 

• PM Gati Shakti- National Master Plan - Multimodal connectivity infrastructure project. 

• Bharatmala Project - To Improve connectivity in North East India 

• Start-up India - To catalyze Startup culture in India 

• Make in India 2.0 - To transform India into a global design and manufacturing hub. 

• Atmanirbhar Bharat Campaign - To cut down import dependence. Steps can be Taken to Make the Growth More. 

Inclusive Workforce Development and Participation: 

• India's sizable and youthful population presents an enormous workforce potential. However, realizing this potential requires addressing challenges like job creation, improving education quality, enhancing skills, and boosting labor force participation, especially among women. 

Private Investment for Economic Growth: 

• Recognizing private investment as a vital driver of economic growth, the Indian government has initiated measures to enhance the Ease of Doing Business, reduce corporate taxes, offer credit guarantees, and attract foreign direct investment. Ongoing reforms, particularly in land, labor, and logistics, are essential to further ease business operations. 

Enhancing Global Competitiveness: 

• To bolster its competitiveness in the global market, India must diversify exports, enhance infrastructure, foster innovation and digitalization, and integrate with regional and global value chains. 

• Despite supportive schemes like PLI, Phased Manufacturing Program (PMP), and Make in India, further trade liberalization and regulatory simplification are necessary for fair competition between domestic and foreign enterprises. 

Environmental Sustainability and Climate Goals: 

• India has committed to reducing carbon intensity and increasing renewable energy capacity to meet climate change goals. 

• While green bonds support eco-friendly projects, addressing environmental challenges like air pollution, water scarcity, waste management, and biodiversity loss requires heightened efforts to safeguard India's growth and well-being. 

Economic Stability and Financial Development: 

• Ensuring a stable and low inflation rate fosters confidence and investment in India. Prioritizing adequate liquidity and credit availability, especially for small and medium enterprises, is crucial. 

• Further development of financial markets and institutions will facilitate savings and investment. 

Global Integration and Trade Agreements: 

• India can strengthen its global economic ties by reducing trade barriers, diversifying its export portfolio, and enhancing overall competitiveness. 

• Pursuing regional and bilateral trade agreements offers opportunities for market expansion, benefiting Indian products and services.