The National Safety Day

National Safety Day is celebrated every year on March 4 to raise awareness about safety protocols that one should follow in order to avoid accidents and mishaps at the workplace. The day aims to educate the general public about the measures one should follow to work safely.

National Safety Council is a non-profit national body that aims to bring a voluntary routine on health, safety, and environment. Set up by the Ministry of Labor and Employment on March 4, 1965, this council’s action has been successful ever since the celebration of National Safety Day was initiated.

History of the National Safety Day

Those preparing for the IAS Exam must know that the day was initiated after India’s first National Safety Council in India which was organized by the Ministry of Labor and Employment. The reason was, the council felt the need for national and state-level safety councils.

Objectives of the National Safety Day:

National Safety Day is observed on a national scale throughout the country to raise awareness about safety, including various health and environmental movements.
It is celebrated to achieve the goal of major public participation in safety roles in various industrial sectors.
The campaign celebration largely promotes the use of a participative approach by the company’s owners by promoting their employees in safety, health, and environmental activities.
This campaign encourages need-based activities, self-observance of legal requirements, and professional SHE (safety, health, and environmental) activities among workplace employees.
The day promotes workplace safety by reminding employers and employees, including other staff, of their legal responsibilities.
To achieve the goal of promoting SHE activities among people in workplaces.
By organizing a safety approach, it enables us to serve the society by instilling a preventive culture and scientific mindset.

News Overview :

The theme of National Safety Day 2023 is “Our Aim – Zero Harm”.
The objective of this subject is to bring down the business loss to zero.
The day aims to promote a safe culture with shared values, beliefs and vision.
Last year in 2022, its theme was “Innovative Technologies for Safety Management“.

Background of the Day :

The Government of India established the National Safety Council as a non-profit and self-financing body on 4 March 1966 by the Ministry of Labor and Employment.
National Safety Day was started for the first time in 1972.

National Youth Parliament Festival

Context:-

The 4th edition of the National Youth Parliament Festival (NYPF) began on 2 March 2023 at the Central Hall of Parliament, New Delhi.

Theme of the 4^th Edition- “Ideas for a Better Tomorrow India for the world”.

Objective:-

To strengthen democracy and enable the student community to understand the working of Parliament.

An overview of the news

The fourth edition of the National Youth Parliament Festival, 2023 was launched with the theme “Ideas for a Better Tomorrow: India for the World”.
Its objective is to strengthen democracy and enable the student community to understand the working of Parliament.
The event saw the participation of 87 state level winners competing for the top positions, wherein 29 finalists were presented before the National Jury for final selection.
Members of the jury also included Members of Parliament and Secretary, the Ministry of Youth Affairs and Sports.
More than 2.01 lakh youth from 748 districts of all states and union territories participated in it at 150 locations across the country.

About National Youth Parliament Festival (NYPF)

It is based on the idea given by the Prime Minister in his Mann Ki Baat Address.
The 1st edition was organized in 2019 with the theme “Be the Voice of New India and Find solutions and Contribute to Policy”.
The second edition of the National Youth Parliament Festival 2021 was organized with the theme “YUVAAH- Utsah Naye Bharat Ka”.
The 3rd edition of the Festival was organized in 2022 with the theme “Be the Voice of New India and Find solutions and Contribute to Policy”.

The National Youth Parliament Festival is organized at three levels-

District Youth Parliament (DYP) – Preliminary round of screening is conducted for selection of youth to participate in DYP by Jury.
State Youth Parliament (SYP) – Youth selected by jury from District Youth Parliament participate in SYP at State level.
National Youth Parliament (NYP) – Youth selected by the jury from the State Youth Parliament participate at the National level in NYP at New Delhi.

Why in news?

The National Stock Exchange of India received the final approval from the markets regulator Securities and Exchange Board of India (SEBI) to set up a Social Stock Exchange (SSE).

What is a Social Stock Exchange?

The SSE would function as a separate segment within the existing stock exchange and help social enterprises raise funds from the public through its mechanism.
It would serve as a medium for enterprises to seek finance for their social initiatives, acquire visibility and provide increased transparency about fund mobilisation and utilisation.
Retail investors can only invest in securities offered by for-profit social enterprises (FPSEs) under the Main Board.
In all other cases, only institutional investors and non-institutional investors can invest in securities issued by SEs.

What about eligibility?

Social Intent – Any non-profit organisation (NPO) or FPSEs that establishes the primacy of social intent would be recognised as a social enterprise.
Those recognised will make it eligible to be registered on the SSE.
Dependent on Corporates – NPOs that are dependent on corporates for more than 50% of its funding are considered ineligible.

How do NPOs raise money?

Zero Coupon Zero Principal (ZCZP) – NPOs can raise money either through issuance of ZCZP instruments from private placement or public issue, or donations from mutual funds.
ZCZP bonds differ from conventional bonds in the sense that it entails zero coupon and no principal payment at maturity.
The minimum issue size is presently prescribed as Rs 1 crore and minimum application size for subscription at Rs 2 lakhs for ZCZP issuance.
The NPO may choose to register on the SSE and not raise funds through it but via other means, however, they would have to make necessary disclosures about the same.

What about on completion of projects?

Development Impact Bonds – It is another structured finance product available for NPOs.
Upon the completion of a project and having delivered on pre-agreed social metrics at pre-agreed costs/rates, a grant is made to the NPO.
The donor who makes the grant upon achieving the social metrics would be referred to as Outcome Funders.
Since the payment above is on post facto basis, the NPOs would have to also raise money to finance their operations.
This is done by a Risk Funder who alongside enabling the financing of operations on a pre-payment basis, also bears the associated risk with non-delivery of social metrics.

How do FPOs raise money?

For-Profit Enterprises (FPEs) need not register with social stock exchanges before it raises funds through SSE.
However, it must comply with all provisions of the ICDR Regulations when raising through the SSE.
It can raise money through issue of equity shares to an Alternative Investment Fund including Social Impact Fund or issue of debt instruments.

What disclosures need to be made?

Annual impact report – SEBI’s regulations state that a social enterprise should submit an annual impact report in a prescribed format.
The report must be audited by a social audit firm and has to be submitted within 90 days from the end of the financial year.
Money raised – Listed NPOs, on a quarterly basis, are specifically required to furnish details about the money they have raised category-wise.

Anti-defection Law

Context:-

The Constitution Bench was hearing political dispute in Maharashtra held that Anti-defection law applies even if a faction splits from a party.

The anti-defection law was added by 52^nd Constitutional Amendment Act as the Tenth Schedule in 1985.
Its purpose was to bring stability to governments by discouraging legislators from switching parties.
It was a response to the toppling of multiple state governments by party-hopping MLAs after the general elections of 1967.
The anti-defection law punishes individual MPs/MLAs for leaving one party for another.
Deciding Authority – The Presiding Officers of the Legislature (Speaker, Chairman).
The decision can be challenged before the higher judiciary.
The law contemplates two kinds of defection:
1. by a member voluntarily giving up membership of the party on whose symbol he got elected
2. by a member violating a direction (whip) issued by his party to vote in a particular way or to abstain from voting
Split – If one-thirds of a legislature party leaves it or joins another party, it amounts to a ‘split’.
Originally, in the 10^th Schedule a ‘split’ in a legislature party is an exception to the disqualification rule.
This was deleted by the Constitution (91st Amendment) Act, 2003.
Exemption– The law allows a group of two-third MP/MLAs to join (i.e. merger) another political party.
The merger has to take place between 2 parties and after that, two-third of the members, if they agree with the merger, then they are exempted from disqualification.
SC observation – The anti-defection law applies even if a faction splits from a political party and manages to cobble up a majority within the party itself.
Irrespective of the faction being majority or minority, anti-defection law applies.
Related topic – The political crisis in Maharashtra, Kihoto Hollohan Judgment