Government notifies NCERT as Deemed University

Context: Recently, the Education Ministry has issued a notification declaring the National Council for Educational Research and Training (NCERT) as an institution deemed to be a university.

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• The government granted this status after the UGC approved the recommendation of an expert committee.

• The new status significantly expands NCERT’s mandate beyond school curriculum design, enabling it to launch academic programmes, including doctoral and innovative courses.

Conditions for NCERT after Granting the Status 

• The notification brings NCERT squarely within the regulatory ambit of the UGC. 

• NCERT can start new programmes, including off-campus or offshore, only as per UGC norms and guidelines. 

• It is prohibited from commercial activities and must align its programs with UGC and statutory standards. 

• It must ensure its programmes are accredited by the National Board of Accreditation (NBA) and the institution by the National Assessment and Accreditation Council (NAAC). 

• It is mandated to participate in NIRF rankings and create Academic Bank of Credits (ABC) IDs, uploading student credits to the ABC portal via digital lockers.

About NCERT

• It is an autonomous organisation established in 1961 under the Societies Registration Act. 

• It serves as the apex body advising the Central and State Governments on school education.

• Key Functions: 

• Educational research and innovation 
• Curriculum development and revision 
• Development of textbooks and teaching-learning materials 
• Teacher education and professional development 
• Educational evaluation and assessment 
• International cooperation in education 

• As per the National Education Policy (NEP) 2020, NCERT is the nodal agency for developing National Curriculum Frameworks (NCFs) for Early Childhood Care and Education (ECCE), School Education, and Adult Education. 

India's Manufacturing PMI Falls to a 4-Year Low amid West Asia Conflict

Context: HSBC’s India Manufacturing Purchasing Managers’ Index (PMI), measuring monthly change in manufacturing output, recorded its lowest reading in nearly four years in March 2026. 

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• The HSBC PMI fell to 53.9 in March, down from 56.9 in February 2026, marking the lowest reading since June 2022, as new orders and output sharply slumped.

• Manufacturing growth in India slowed due to cost pressures, competition, market uncertainty, and the Middle East war, with cost pressures reaching their highest since August 2022.

• Aluminium, chemicals, fuel, jute, leather, fabric, oil, rubber, and steel were some of the items reported to have increased in price.

• In March 2026, Indian manufacturers witnessed their strongest expansion in external sales since last September, driven primarily by increased demand from customers in Australia, Brazil, Canada, Mainland China, Europe, Japan, West Asia, Türkiye, and Vietnam.

About Purchasing Managers’ Index (PMI)

• The Purchasing Managers Index (PMI) is an economic indicator that assesses the business environment by surveying purchasing managers at private sector companies about their expectations for orders, production, employment, and supplier deliveries.

• It is published by various organisations worldwide, such as the Institute for Supply Management (ISM) and the Singapore Institute of Purchasing and Materials Management (SIPMM); in India, it is released by S&P Global.

• The Purchasing Managers' Index can range between 0 and 100, with a number over 50 citing expansion and under 50 noting contraction.

• The Composite PMI combines manufacturing and services data for an overall picture of private-sector activity. The Flash PMI, released about 10 days earlier, provides a preliminary estimate based on roughly 85% of survey responses.

Raja Ravi Varma Painting Sets New Record for Indian Art

Context: Raja Ravi Varma’s painting ‘Yashoda and Krishna’ sold for a record-breaking Rs 167.20 crore at Saffronart’s Spring Live Auction, the highest price ever for an Indian artwork at auction.

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• The canvas depicts Yashodhara milking a cow, with an infant Krishna standing behind her. The oil-on-canvas is painted in Varma’s recognised realist style, with a chiaroscuro technique that contrasts light and dark.

• Previously, MF Husain’s 1954 Untitled (Gram Yatra) held the Indian art auction record, selling for Rs 118 crore in March 2025.

About Raja Ravi Varma

• Raja Ravi Varma (1848–1906), born in the erstwhile princely state of Travancore (present-day Kerala), was an Indian painter who blended Hindu mythological subjects with European realist and naturalist styles.

• His works primarily depict themes from the Puranas and epics like the Mahabharata and Ramayana. 

• Famous Works: Damayanti Talking to a Swan, Shakuntala Looking for Dushyanta, Lady Adorning Her Hair, Shantanu and Matsyagandha.

• Features of His Work:

• Among the first Indian artists to blend Western techniques with Indian themes and styles. 
• Departed from the earlier dominance of Persian and Mughal artistic influences. 
• One of the earliest Indian painters to use oil painting techniques. 
• Popularised art by producing affordable lithographs for the masses. 
• Known for realistic portrayals of mythological figures and Indian royalty. 

• Recognition:

• Awarded the Kaisar-i-Hind Gold Medal in 1904 by Lord Curzon. 
• Conferred the personal title of “Raja” by Lord Curzon. 

Centre Tightens Oversight on GLP-1 Weight-Loss Drugs

Context: Recently, the Drugs Controller of India has intensified its regulatory surveillance against the weight loss drug (GLP-1) unauthorised sale and promotion to ensure ethical pharmaceutical practices.

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• The recent launch of multiple generic GLP-1 weight-loss drugs in India has raised concerns about their easy, on-demand availability across retail pharmacies, online platforms, wholesalers, and wellness clinics.

• The generic versions of these drugs are expected to become widely available with the recent expiry of the patent for semaglutide. 

• These drugs, when used without proper medical supervision, may lead to serious adverse effects and related health risks.

About GLP-1 Weight-Loss Drugs

• GLP-1 (Glucagon-Like Peptide-1) drugs, also called GLP-1 receptor agonists, are medications that mimic a natural gut hormone released after eating. 

• They stimulate insulin release and reduce glucagon, helping control blood sugar, also slow stomach emptying and reduce appetite, leading to weight loss. 

Uses of GLP-1 Drugs

• Type 2 Diabetes Management: Improve blood glucose control by enhancing insulin secretion. 

• Weight Loss / Obesity Treatment: Reduce hunger and increase satiety, leading to significant weight loss (10–20% in some cases). 

• Additional Benefits: May reduce the risk of heart disease in diabetics. 

Side Effects of GLP-1 Drugs

• They commonly cause gastrointestinal issues such as nausea, vomiting, diarrhoea, and constipation.

• Rapid weight loss may lead to visible effects like facial sagging (“Ozempic face”).

• Some users may experience persistent digestive problems affecting daily life.

• In rare cases, serious complications like pancreatitis and gastroparesis can occur.

• There is also a risk of bowel obstruction and gallstones. 

Untaxed Offshore Wealth of Richest 0.1% Surpasses Wealth of Poorest Half: Oxfam Report

Context: A recent Oxfam report states that the richest 0.1% hold more untaxed offshore wealth than the world's poorest 4.1 billion people combined.

Key Findings of the Report

• The report published ahead of the 10th anniversary of the Panama Papers shows that even after a decade, the super-rich continue to use offshore systems to evade taxes and hide assets, underscoring the urgent need for coordinated global action to tax extreme wealth and curb tax havens.

• The top 0.1% holds about 80% of untaxed offshore wealth (~$2.84 trillion), within which the top 0.01% alone accounts for nearly half (~$1.77 trillion).

• In 2024, $3.55 trillion in untaxed wealth was deposited abroad in tax havens and unreported accounts. This amount exceeds even France's GDP and is more than double the combined GDP of the world's 44 least developed countries. 

• Most countries in the Global South are excluded from the Automatic Exchange of Information system (AEOI) despite their urgent need for tax revenue. 

• The AEOI is credited with reducing the share of untaxed offshore wealth in recent years.

Key Suggestions of the Report 

• It called for stronger global cooperation under the UN tax framework to tax the super-rich and curb tax havens.

• It suggested strengthening tax authorities and financial transparency, giving governments the tools to identify and track the wealth of the richest individuals, including through a global asset register.

• The richest 1 per cent should pay significantly higher effective tax rates on income from both labour and capital, with even higher rates for multimillionaires and billionaires.

• Governments should introduce taxes on extreme wealth, particularly targeting the richest 1 per cent, at levels sufficient to reduce inequality.