Manohar Parrikar Institute for Defence Studies and Analyses (MP-IDSA)

The Delhi Defence Dialogue (DDD) was recently held at New Delhi that addresses the multifaceted challenges of defence and security in India.

• The Manohar Parrikar Institute for Defence Studies and Analyses (MP-IDSA), is a non-partisan, autonomous body dedicated to objective research and policy relevant studies on all aspects of defence, security and international relations.
• Its mission is to promote national and international security through the generation and dissemination of knowledge on defence and security-related issues.
• MP-IDSA is not a pre-independence organisation and was established as a registered society in New Delhi on November 11, 1965. (Statement 1 is incorrect)
• Core values and agenda – The core values that serve as guiding principles of the institute are:
  • Integrity and Honesty,
  • Commitment and Professionalism,
  • Pursuit of excellence and Teamwork and
  • Innovation and Creativity.
• Research at the Institute is driven by a comprehensive agenda and by the need to provide impartial analyses and policy recommendations.
• Training – MP-IDSA provides annual training programmes to civilian and military officers of the Government of India.
• Lectures by experts from the institute and from outside form the core of these programmes.
• Governance – MP-IDSA is governed by an Executive Council, whose members are distinguished personalities from various walks of life.
• The Council is headed by a President.
• It is supported by committees covering different aspects of the Institute's work.
• Executive Council Committees include:
  • Human Resources and Academic Committee,
  • Membership Committee and
  • Finance and Administration Committee.
• Members of the Council are elected for two-year terms at the Annual General Body meeting.
• Funding – MP-IDSA is funded by the Indian Ministry of Defence.

ASSET Platform

NITI Aayog has recently launched ASSET platform in collaboration with the Ministry of Power and the Ministry of New and Renewable Energy.

• ASSET platform – Accelerating Sustainable Solutions for Energy Transition.
• It was launched by NITI Aayog in collaboration with the ministry of power and the ministry of new and renewable energy.
• ASSET platform is a timely initiative to support states in accelerating their green transition.
• The platform will assist in formulating state energy transition blueprints along with aiding in its implementation, preparing a pipeline of bankable projects.
• It showcases best practices across states as well as upcoming technology and innovations in critical sectors like BESS, Green Hydrogen, Energy efficiency, e-mobility, offshore wind and so on.
• The role of states is crucial in achieving India’s national aspirations of becoming Viksit Bharat by 2047 and achieving Net-zero GHG emissions by 2070.
• This requires sustained economic growth over the next two decades and States need to develop and implement energy transition plans that align with overall national goals.
• This involves three key steps that include:
  • Preparing comprehensive energy transition blueprints,
  • Developing investible projects and ensuring their effective implementation and
  • Fostering innovation in emerging technologies.

Long Range Land Attack Cruise Missile (LRLACM)

India’s Defence Research and Development Organisation (DRDO) successfully conducted the first flight-test of the Long Range Land Attack Cruise Missile (LRLACM) recently.

• LRLACM is a Defence Acquisition Council-approved, Acceptance of Necessity-sanctioned and Mission Mode Project.
• It is configured to launch from the ground using mobile articulated launchers and also from frontline ships using a universal vertical launch module system.
• LRLACM has been developed by the Aeronautical Development Establishment (ADE), Bengaluru along with contributions from other DRDO laboratories and Indian industries.
• Bharat Dynamics Limited (BDL), Hyderabad and Bharat Electronics Limited (BEL), Bengaluru are the two Development-Cum-Production-Partners for LRLACM.
• They are also engaged in missile development and integration.
• The missile performance was monitored by several range sensors like Radar, Electro Optical Tracking System and telemetry.
• The test was held at the Integrated Test Range (ITR) in Chandipur, Odisha.

Comb Jellies

Scientists have recently discovered Comb Jellies that breaks the traditional cycle of birth, ageing, and death to which most animals are bound.

• Comb jellies are also known as ctenophore Mnemiopsis leidyi.
• According to a recent study published in Proceedings of the National Academy of Sciences, Comb jelli can defy age and revert to younger versions of themselves.
• They found that adult comb jelly can regress and reach a larval stage if they are subjected to extreme stress.
• They are one of Earth's earliest animal lineages (around 700 million years old) makes this discovery valuable for understanding the evolution of aging and development.
• Stress response – The finding that this reverse aging occurs under extreme stress suggests it may be a survival mechanism, which is a novel concept in animal biology.
• Developmental plasticity – This challenges our traditional understanding of animal development as a one-way process, showing that some organisms can be more flexible in their life cycles than previously thought.
• Research implications – Understanding the molecular mechanisms behind this process could potentially provide insights into:
  • Cellular regeneration.
  • Aging processes.
  • Development of therapeutic approaches.
  • Evolution of early animal body plans.

National Financial Reporting Authority (NFRA)

NFRA has recently approved the revamped proposals on 40 auditing standards.

• The National Financial Reporting Authority (NFRA) was constituted on October, 2018 under the Companies Act, 2013.
• It aims to protect the public interest and the interests of the investors, creditors and other associated with the companies or bodies corporate governed under NFRA Rules, 2018.
• It is a statutory body that works under the aegis of Ministry of Corporate Affairs.
• Functions and Duties – To recommend accounting and auditing policies and standards to be adopted by companies for approval by the Central Government.
• To monitor and enforce compliance with accounting standards and auditing standards.
• To oversee the quality of service of the professions associated with ensuring compliance with such standards and suggest measures for improvement in the quality of service.
• The Authority has the power to monitor and enforce compliance with accounting standards and auditing standards, oversee the quality of service of bodies corporate, that include:
  • Companies whose securities are listed on any stock exchange in India or outside India. (Statement 3 is incorrect)
  • Unlisted public companies having paid-up capital of not less than rupees five hundred crores.
  • Insurance companies, banking companies, companies engaged in the generation or supply of electricity.
• NFRA has recently revised 40 auditing standards to align with International Standards on Auditing (ISA).
• The revamped include two key standards where the CA Institute had expressed reservations.
• These two key standards are SA 600 (relying on the work of other auditor) and SA 299 (Joint Audit of Financial Statements).
• The major standards approved by the NFRA Board include SQM1, SQM2, SA 600 (revised), SA 299 (revised), SA 800 (revised), SA 805 (revised) and SA 810 (revised).