Formation of Expert Panel to Revise Wholesale Price Index (WPI)

The Centre announced the establishment of an expert panel on January 2, 2025, to revise the constituents of India’s Wholesale Price Index (WPI).  This revision is in response to structural changes in the economy since 2011-12, the current base year, to 2022-23, which will be the new base year.

Objectives and Tasks of the Expert Panel

• The panel, led by Niti Aayog member Ramesh Chand, will review and revise the composition and compilation methodology of the WPI and a new Producers’ Price Index (PPI).
• Approved by the technical advisory panel on Statistics of Prices and Cost of Living, the group aims to improve the accuracy and reliability of these indices.
• The panel is expected to submit its final report by June 30, 2026.

Terms of Reference

• Review and improve the current system of price collection.
• Decide on the computation methodology for both WPI and PPI.
• Suggest further improvements in the compilation and presentation formats of the PPI.
• Recommend a roadmap for transitioning from the WPI to the PPI.
• Propose any other necessary improvements for enhancing the indices' reliability.

Panel Composition

The panel consists of 18 members, including:

• Eight officials from Ministries of Statistics, Finance, Petroleum and Natural Gas, Agriculture, and Consumer Affairs.
• A representative from the Reserve Bank of India (RBI) and the Chief Executive Officer of the Goods and Services Tax Network.
• Private sector economists and 2 non-official members. 

Additional Provisions

The Ministry has stated that the Chairman of the Working Group may include other experts or representatives from various agencies as deemed necessary.

Overview of School Facilities in India

The latest data from the Unified District Information System for Education (UDISE+), maintained by the Ministry of Education, provides insights into the infrastructure of schools across India.

Electricity

• Out of 14.71 lakh schools, approximately 1.52 lakh schools lack functional electricity.
• 10.17 lakh are government-run schools; 9.12 lakh have electricity, leaving 1.52 lakh without it.
• Among 4.54 lakh other schools (government-aided, private, unaided), 4.07 lakh are electrified.

Drinking Water

• 14.47 lakh schools have drinking water, with 14.11 lakh having functional facilities.
• Government schools: 9.78 lakh of 10.17 lakh have functional facilities.
• Other schools: 4.33 lakh of 4.46 lakh have functional facilities.
• 24,580 schools lack drinking water facilities within premises.

Toilets

• 14.50 lakh schools have toilets, but only 14.04 lakh are functional.
• 67,000 schools lack functional toilets, most (46,000) are government schools.

Disabled-Friendly Facilities

• Only 3.37 lakh (33.2%) of 10.17 lakh government schools have disabled-friendly toilets; 30.6% are functional.
• In government-aided schools, 35,640 (44.4%) of 80,313 have disabled-friendly toilets.

Ramps and Handrails

• 11.34 lakh schools (77%) have ramps; 7.69 lakh (52.3%) have ramps with handrails.

Computers and Internet

• 7.48 lakh schools (50%) have functional computers for teaching and learning.
• 7.92 lakh schools have Internet, 8.41 lakh have computer facilities.
• Government schools: 4.42 lakh (43.5%) of 10.17 lakh have computers for educational purposes.
• Private unaided schools: 2.34 lakh (70.9%) of 3.31 lakh have this facility.

Co-curricular Activity Rooms

• Only 17.5% (2.57 lakh) of schools have arts and crafts rooms.
• In government schools, only 9.9% of 10.17 lakh have arts and crafts rooms.

Science Laboratories

• Of 2.86 lakh secondary schools, only 1.6 lakh have integrated science labs.
• Among government secondary schools, 50.2% of 1.19 lakh have science labs.

Solar Panels

• Only 1.54 lakh schools (10.5%) have solar panel facilities.
• In government schools, 89,746 (8.8%) of 10.17 lakh have solar panels installed.

Supreme Court Judgment on Land Compensation

The Supreme Court of India made a significant judgment concerning the rights of landowners whose properties were acquired for the Bengaluru-Mysore Infrastructure Corridor (BMIC) project. This case underscores the importance of the right to property as both a human and constitutional right.

Key Judgment Details

• The court mandated that compensation for the land acquired should be based on the market value prevailing in April 2019, not the value at the time of initial acquisition in 2003.

Constitutional and Human Rights Consideration

• Right to Property: Recognized as a human right and protected under Article 300-A of the Indian Constitution.
• The state is prohibited from dispossessing citizens of their property without following the legal procedure.

Economic Rationale and State Responsibility

• Economic Value of Money: The court emphasized that the value of money changes over time due to inflation, affecting the purchasing power of the compensation.
• State's Role: The court criticized the Karnataka government for its delay, stressing that it should have acted proactively to ensure timely compensation.

Implications of the Judgment

• This judgment reinforces the principle that compensation for acquired land should reflect current market values, not historical ones.
• It highlights the state's obligation to promptly and adequately compensate landowners, adhering to constitutional and legal mandates.

Development of Advanced Injectable Hydrogel for Cancer Treatment

Researchers from the Indian Institute of Technology-Guwahati (IIT-G) and the Bose Institute, Kolkata have innovated an advanced injectable hydrogel for targeted cancer therapy, focusing primarily on breast cancer treatment.

Key Features of the Hydrogel

• Controlled Drug Release: Acts as a stable reservoir for anti-cancer drugs, ensuring controlled release while safeguarding healthy cells. 
• Localized Treatment: Designed to address limitations of traditional methods like chemotherapy and surgery, particularly for hard-to-reach internal tumors. 

Hydrogel Composition and Mechanism

• Structure: Composed of water-based, three-dimensional polymer networks mirroring living tissues, suitable for biomedical applications. 
• Composition: Utilizes ultra-short peptides, which are biocompatible and biodegradable. 
• Mechanism: Responds to high levels of glutathione (GSH) found in tumor cells to trigger controlled drug release, minimizing interaction with healthy tissues. 

Research Findings and Efficacy

• Preclinical Trials: Demonstrated significant efficacy in a murine model of breast cancer, with a ~75% reduction in tumor size within 18 days post a single injection. 
• Drug Delivery: The hydrogel localizes at the tumor site, releasing drugs steadily and reducing systemic side effects. 
• Advantages: Enhances drug effectiveness and reduces dosage requirements, minimizing toxicity and promoting cancer cell death. 

Implications

This innovative approach exemplifies how scientific advancements can address urgent needs in cancer treatment by offering precision drug delivery, improving drug uptake, inducing cell cycle arrest, and supporting programmed cell death.

U.S. and Panama Canal Dispute

On December 22, 2024, Donald Trump threatened to reclaim the Panama Canal, criticizing the  treaty as "foolish." He demanded its return to the U.S., stating concerns over unfair treatment of the U.S. Navy and Commerce. Panama’s President José Raúl Mulino rejected Trump's assertions, affirming Panama's ownership of the canal.

Why is Trump Upset with Panama?

• High Transit Fees: 
  The primary concern is the elevated transit fees imposed by the ACP (Panama Canal Authority) on U.S. vessels. A severe drought in 2023 affected water levels in Lakes Gatun and Alhajuela, crucial for canal operations. This led to a 36% reduction in crossing slots, thereby increasing transit fees.
• Chinese Influence: 
  The rise of Chinese presence in the canal is unsettling for the U.S. In 2017, Panama signed a Belt and Road Initiative (BRI) agreement, boosting Chinese investments. Hutchison Ports PPC, a Hong Kong-based firm's subsidiary, operates ports near the canal's entrances, raising concerns about China's influence over operations and U.S. Navy surveillance.

What is the U.S.-Panama Treaty?

• The Panama Canal, an 80-kilometer artificial waterway, connects the Atlantic and Pacific Oceans, vital for global trade, facilitating 6% of maritime trade. 
• The Torrijos-Carter Treaties of 1977 led to the U.S. transferring control of the canal to Panama on December 31, 1999. The treaties established the canal's neutrality and allowed the U.S. rights to defend its neutrality and priority passage during military emergencies.

Panama’s Response

• President José Raúl Mulino refuted Trump's claims, asserting the transparency and international standard compliance of the transit fees. He dismissed allegations of foreign influence, emphasizing Panama’s sovereignty and clarified the absence of Chinese military presence.

What Next?

• Diplomatic discussions are expected to address concerns over fee hikes and operational logistics. While the U.S. may pressure Panama for renegotiations, Panama seeks international support to uphold its sovereignty.
• China responded by acknowledging Panama’s ownership of the canal, with Foreign Ministry spokesperson Mao Ning highlighting the canal's significance to Panama and respecting its sovereignty.