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2. What is a Bomb Cyclone?
Reference News:-
The US East Coast is bracing itself for a “bomb
cyclone” (Nor’easter) that is on course to to
barrel in from the mid-Atlantic.
What is a Bomb Cyclone?
“Bombogenesis is the technical term. ‘Bomb
cyclone’ is a shortened version of it, better
for social media.”
 It is a mid-latitude cyclone that intensifies rapidly.
 It has low pressure at its center, weather fronts and an array of associated
weather, from blizzards to severe thunderstorms to heavy precipitation.
When is it formed? Generally, a bomb cyclone happens when atmospheric pressure in the
middle of the storm drops at least 24 millibars over 24 hours, quickly increasing in
intensity. The lower the pressure, the stronger the storm.
How is it different from hurricanes?
 It essentially amounts to a rapidly developing storm system, distinct from a
tropical hurricane because it occurs over midlatitudes where fronts of warm and
cold air meet and collide, rather than relying on the balmy ocean waters of late
summer as a catalyst.
 Bomb cyclones have cold air and fronts: Cold air rapidly weakens hurricanes, while
it is an essential ingredient for bomb cyclones.
 Bomb cyclones form during winter: Hurricanes form from late spring to early fall,
while bomb cyclones form from late fall to early spring.
 Bomb cyclones form at higher latitudes: Hurricanes form in tropical waters, while
bomb cyclones form over the northwestern Atlantic, northwestern Pacific and
sometimes the Mediterranean Sea.

3. Budget Session of Parliament:
Reference News:-
The Budget Session of Parliament has begun and is scheduled to conclude on April 8.
 First, President Ram Nath Kovind will address both Houses in the Central Hall.
What next?
 The Economic Survey 2021-22 will be laid by Finance Minister Nirmala Sitaraman
in Lok Sabha on January 31.
 The Budget will be presented by her on February 1 at 11 am.
 There will be no Zero Hour and Question Hour in both Houses of Parliament during
the first two days of the Budget Session.
 During the First Part of the Session after the presentation of the Budget (February
2-11), 40 hours of normal time will be available for various Businesses such
as Question, Private Members’ Business, Discussion on Motion of Thanks, General
Discussion on Union Budget, etc.
Sessions of parliament- Constitutional Provisions:
 Article 85 requires that there should not be a gap of more than six months between
two sessions of Parliament.
 The Constitution does not specify when or for how many days Parliament should
meet.

4. Budgeting process in India:
The procedure for presentation of the Budget in and its passing by Lok Sabha is as laid
down in articles 112—117 of the Constitution of India, Rules 204—221 and 331-E of the
Rules of Procedure and Conduct of Business in Lok Sabha and Direction 19-B
of Directions by the Speaker.
The Budget goes through six stages:
1. Presentation of Budget.
2. General discussion.
3. Scrutiny by Departmental
Committees.
4. Voting on Demands for Grants.
5. Passing of Appropriation Bill.
6. Passing of Finance Bill.
Presentation:
The Budget is presented to Lok Sabha on such day as the President may direct.
Immediately after the presentation of the Budget, the following three statements under
the Fiscal Responsibility and Budget Management Act, 2003 are also laid on the Table of
Lok Sabha:
(i) The Medium-Term Fiscal Policy Statement;
(ii) The Fiscal Policy Strategy Statement; and
(iii) The Macro Economic Framework Statement.
Kerala’s SilverLine Project:
Reference News:-
Despite the protests taking place across Kerala against SilverLine, the CPI(M)-led
government remains firm on implementing the project.
What’s the issue now?
Large sections of the people have been protesting against SilverLine over its “lack” of
financial viability as well as environmental and social impact.
Among the questions being asked are:
 how a debt-ridden state can afford the
project;
 what the ecological cost would be on a
state tackling climate change;
 would the train service be affordable
given the cost of building it;
 and what the plans are to rehabilitate
those displaced.
The loudest concern though is the lack of
consultation.

5. What is the SilverLine project?
 The proposed 45-km line will link Thiruvananthapuram in the south to Kasaragod
in the north, covering 11 districts through 11 stations.
 Being executed by the Kerala Rail Development Corporation Limited (KRDCL), or
K-Rail, is a joint venture between the Kerala government and the Union Ministry of
Railways created to execute this project.
Features of the Project:
 The project will have trains of electric multiple unit (EMU) type, each with
preferably nine cars extendable to 12.
 A nine-car rake can seat a maximum of 675 passengers in business and standard
class settings.
 The trains can run at a maximum speed of 220 km/hr on a standard gauge track,
completing journeys in either direction in fewer than four hours.
 At every 500 metres, there will be under-passages with service roads.
Need for the SilverLine project:
 Time saving: On the existing network, it now takes 12 hours. Once the project is
completed, one can travel from Kasaragod to Thiruvananthapuram in less than four
hours at 200 km/hr.
 Terrain limitations: Most trains run at an average speed of 45 km/hr due to a lot of
curves and bends on the existing stretch.
 De-trafficking: The project can take a significant load of traffic off the existing
stretch and make travel faster for commuters, which in turn will reduce congestion
on roads and help reduce accidents.
 The project would reduce greenhouse gas emissions, help in expansion of Ro-Ro
services, produce employment opportunities, integrate airports and IT corridors,
and enable faster development of cities it passes through.
Issues with the Project:
 Political rhetoric: All political parties have been spearheading separate protests.
 Huge capital requirement: They argue that the project was an “astronomical scam
in the making” and would sink the state further into debt.
 Displacement of families: The project was financially unviable and would lead to
the displacement of over 30,000 families.
 Ecological damage: It would cause great environmental harm as its route cuts
through precious wetlands, paddy fields and hills.
 Flood hazard: The building of embankments on either side of the major portion of
the line will block natural drainage and cause floods during heavy rains.

6. ‘Gehri dosti’ says Israel PM about ties with India:
Reference News:-
Israel and India are celebrating 30 years of establishment of diplomatic relations.
 Though India had recognised Israel on September 17, 1950, full-fledged diplomatic
relations between the countries were established on January 29, 1992.
Observations made by Israeli PM on India Israel relations:
 Both countries have a “gehri dosti” (deep friendship).
 The opportunities of collaboration between the two countries are “endless”.
India’s stand Israel- Palestine conflict:
India, at the UN Security Council open debate on the Middle East, has reiterated its firm
and unwavering commitment to the peaceful resolution of the Palestine issue and
supported a negotiated two-state solution.
 Resolution 2334 was adopted by this Council to reaffirm the international
community’s firm commitment to preventing the erosion of the two-state solution.
Israel- Palestine conflict– Historical Background:
 The conflict has been ongoing for more than 100 years between Jews and Arabs
over a piece of land between Jordan River and the Mediterranean Sea.
 It was between 1882 to 1948, when the Jews from around the world gathered in
Palestine. This movement came to be known as
 Then in 1917, Ottoman Empirefell after World War 1 and the UK got control over
Palestine.
 The land was inhabited by a Jewish minority and Arab majority.
 The Balfour Declarationwas issued after Britain gained control with the aim of
establishing a home for the Jews in Palestine. However during that period the
Arabs were in majority in Palestine.
 Jews favored the idea while the Palestinians rejected it. Almost 6 million Jews lost
their lives in the Holocaust which also ignited further demand of a separate Jewish
state.
 Jews claimed Palestine to be their natural home while the Arabs too did not leave
the land and claimed it.
 The international community supported the Jews.
 In 1947, the UN voted for Palestine to be split into separate Jewish and Arab states,
with Jerusalem becoming an international city.
 That plan was accepted by Jewish leaders but rejected by the Arab side and never
implemented.

7. The creation of Israel and the ‘Catastrophe’:
 It was in the year 1948 that Britain lifted its control over the area and Jews
declared the creation of Israel. Although Palestinians objected, Jews did not back
out which led to an armed conflict.
 The neighboring Arabs also invaded and were thrashed by the Israeli troops. This
made thousands of Palestinians flee their homes. This was called Al-Nakba, or the
“Catastrophe”.
 Israel had gained maximum control over the territory after this came to an end.
 Jordanthen went on a war with Israel and seized control over a part of the land
which was called the West Bank, and Egypt occupied Gaza.
 Jerusalem was divided between Israel in the West and Jordan in the East.However,
no formal peace agreement was signed, each side continued to blame each other for
the tension and the region saw more wars.
 Israeli forces captured East Jerusalem and the West Bank, various areas of Syrian
Golan Heights, Gaza and the Egyptian Sinai Peninsula in the year 1967.
Present scenario:
 Israel still occupies the West Bank, and although it pulled out of Gaza the UN still
regards that piece of land as part of occupied territory.
 Israel claims the whole of Jerusalem as its capital, while the Palestinians claim East
Jerusalem as the capital of a future Palestinian state.
 Tensions escalated in recent month over Israel’s actions concerning Al-Asqa
mosque in East Jerusalem.

8. Bad bank:
Reference News:-
A key proposal announced in this year’s (2021) Budget, a bad bank to deal with stressed
assets in the loss-laden banking system, has received all regulatory approvals.
What is NARCL?
 Setting up of NARCL, the proposed bad bank for taking over stressed assets of
lenders, was announced in the Budget for 2021-22.
 The plan is to create a bad bank to house bad loans of ₹500 crore and above, in a
structure that will contain an asset reconstruction company (ARC) and an asset
management company (AMC) to manage and recover dud assets.
 The new entity is being created in collaboration with both public and private sector
banks.
o Majority-owned by state-owned banks, the NARCL will be assisted by the
India Debt Resolution Company Ltd (IDRCL), in turn majority-owned by
private banks, in resolution process in the form of a Principal-Agent basis.
How is NARCL different from existing ARCs? How can it operate differently?
1. The proposed bad bank will have a public sector character since the idea is mooted
by the government and majority ownership is likely to rest with state-owned
banks.
2. At present, ARCs typically seek a steep discount on loans. With the proposed bad
bank being set up, the valuation issue is unlikely to come up since this is a
government initiative.
3. The government-backed ARC will have deep pockets to buy out big accounts and
thus free up banks from carrying these accounts on their books.
What is an Asset Reconstruction Company (ARC)?
It is a specialized financial institution that buys the Non-Performing Assets (NPAs) from
banks and financial institutions so that they can clean up their balance sheets. This helps
banks to concentrate on normal banking activities.
 The asset reconstruction companies or ARCs are registered under the RBI.
Legal Basis:
The Securitization and Reconstruction of Financial Assets and Enforcement of Security
Interest (SARFAESI) Act, 2002 provides the legal basis for the setting up of ARCs in India.
Capital Needs for ARCs:
 As per amendment made in the SARFAESI Act in 2016, an ARC should have a
minimum net owned fund of Rs. 2 crores. The RBI raised this amount to Rs. 100
crores in 2017.

9.  The ARCs also have to maintain a capital adequacy ratio of 15% of its risk weighted
assets.
Need for:
The total stress in the banking system would be in excess of Rs 15 lakh crore. The banks
burdened with stressed assets and limited capital will find it difficult to manage the
NPAs. There is also limited capital that the government can provide. This is where the
bad bank model would step in and help both the government and banks.
India-Oman Defence Relations
Reference News:-
Oman’s top defence official Mohammed Nasser Al Zaabi, is on an official visit to Delhi to co-
chair the Joint Military Cooperation Committee (JMMC) with Indian Defence Secretary.
Key takeaways
 The JMCC is the highest forum of engagement between India and Oman in the field of
defence that evaluates and provides guidance to the overall framework of defence
exchanges between the two sides.
 The JMCC is expected to meet annually, but could not be organised since 2018 when the
meeting of the 9th JMCC was held in Oman.
Why is Oman important from a defence and strategic point of view?
 Oman is India’s closest defence partner in the Gulf region and an important anchor for
India’s defence and strategic interests.
 Defence cooperation has emerged as a key pillar for the robust India-Oman strategic
partnership. Defence exchanges are guided by a Framework MOU which was recently
renewed in 2021.
 Oman is the only country in the Gulf region with which all three services of the Indian
armed forces conduct regular bilateral exercises and staff talks.
 Oman also provides critical operational support to Indian naval deployments in the
Arabian sea for anti-piracy missions.
 Oman also actively participates in the Indian Ocean Naval Symposium (IONS).
o The Indian Ocean Naval Symposium is a series of biennial meetings between the
littoral states of the Indian Ocean region.
o It provides a forum to increase maritime security cooperation, discuss regional
maritime issues, and promote friendly relationships among the member states

10. Federated Digital Identities
Reference News:-
The government has invited stakeholder comments on a proposal that seeks to establish
‘Federated Digital Identities’ to optimise the number of digital identities that a citizen needs to
have, by linking various consumer identification data into a single unique ID for digital
transactions such as authentication and eKYC services.
Key takeaways
 The proposal is part of the Electronics and IT Ministry’s India Enterprise Architecture 2.0
(IndEA 2.0) framework
 As various government platforms across domains are being digitised, there is a
tendency to create more IDs each with its own ID card, ID management, and effort to
make it unique, etc.
 Having multiple IDs makes it harder for the common man himself.
 Especially given the diversity in education, awareness and capabilities, this also has a
potential to further create exclusion scenarios.
About India Enterprise Architecture 2.0 (IndEA 2.0)
 IndEA 2.0 aims to enable the governments and the private sector enterprises to design
IT architectures that can span beyond organisational boundaries for delivery of
integrated services.
 InDEA 2.0 proposes a model of Federated Digital Identities that seeks to optimise the
number of digital identities that a citizen needs to have.
 The model empowers the citizen by putting her in control of these identities and
providing her the option of choosing which one to use for what purpose.
 It gives the agency to the citizens and protects privacy-by-design.
 Electronic registries can be linked via the IDs to allow easy, paperless onboarding of
citizens and also avoid repeated data verification needs.
For example
 When a beneficiary is registered for the PDS scheme, that record will be linked to
Aadhaar by the PDS system storing the Aadhaar number (or a tokenised version of it).
 Similarly, when someone obtains a PAN, that record gets linked to Aadhaar where the
Aadhaar number becomes the linking ID.
 Thus, if that person obtains a mutual fund account, the PAN, in turn, gets linked to the
mutual fund record.