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The Hindu & Indian Express
News 1: Monetary tools alone cannot tame inflation
Background:
- Nirmala Sitharaman in the meet “Taming Inflation”, spoke about the monetary tools role in controlling inflation. She expressed that while an increase in interest rate forms a critical part in controlling inflation but cannot be the only component. Both monetary and fiscal policy need to work together to reduce inflation.
Monetary policy:
- Monetary policy in India has a primary objective of maintaining price stability while keeping in mind the objective of growth.
Important tools used:
- Repo Rate: The interest rate at which the Reserve Bank provides liquidity under the liquidity adjustment facility (LAF) to all LAF participants against the collateral of government and other approved securities.
- Reverse Repo Rate: The interest rate at which the Reserve Bank absorbs liquidity from banks against the collateral of eligible government securities under the LAF. Following the introduction of SDF, the fixed rate reverse repo operations will be at the discretion of the RBI for purposes specified from time to time.
- Standing Deposit Facility (SDF) Rate: The rate at which the Reserve Bank accepts uncollateralised deposits, on an overnight basis, from all LAF participants. The SDF is also a financial stability tool in addition to its role in liquidity management. The SDF rate is placed at 25 basis points below the policy repo rate. With introduction of SDF in April 2022, the SDF rate replaced the fixed reverse repo rate as the floor of the LAF corridor.
- Marginal Standing Facility (MSF) Rate: The penal rate at which banks can borrow, on an overnight basis, from the Reserve Bank by dipping into their Statutory Liquidity Ratio (SLR) portfolio up to a predefined limit (2 per cent). This provides a safety valve against unanticipated liquidity shocks to the banking system. The MSF rate is placed at 25 basis points above the policy repo rate.
- Liquidity Adjustment Facility (LAF): The LAF refers to the Reserve Bank’s operations through which it injects/absorbs liquidity into/from the banking system. It consists of overnight as well as term repo/reverse repos (fixed as well as variable rates), SDF and MSF. Apart from LAF, instruments of liquidity management include outright open market operations (OMOs), forex swaps and market stabilisation scheme (MSS).
News 2: Longest reigning monarch of U.K., Elizabeth II, dead
Background:
- Queen Elizabeth II, who died on Thursday, broke many records as monarch, becoming an enduring symbol of the country over which, she reigned for 70 years even as it changed beyond recognition, losing its empire and undergoing social upheaval.
- Queen Elizabeth was Head of State of the United Kingdom and 14 Commonwealth realms.
Commonwealth:
- The Commonwealth is a voluntary association of 56 independent and equal countries. It is home to 2.5 billion people and includes both advanced economies and developing countries. 32 of our members are small states, including many island nations.
- The Commonwealth’s roots go back to the British Empire. But today any country can join the modern Commonwealth. The last two countries to join the Commonwealth were Gabon and Togo in 2022.
News 3: Naga team continues talks on Constitution
Background:
- The Government of India is ready to incorporate the Yehzabo, the Naga Constitution, into the Indian Constitution and has agreed for a civil and cultural flag for the Nagas, a senior government official said on Thursday.
Persistent demand
- The Centre is engaged in discussions with the Isak-Muivah faction of the National Socialist Council of Nagaland (NSCN-IM) and seven Naga National Political Groups (NNPGs) to find a solution to the Naga political issue.
- The Isak-Muivah faction, the key player in the Naga peace talks, has been demanding a separate Constitution and a separate flag for the Nagas.
- The NSCN-IM also demands creation of ‘Greater Nagaland’ or Nagalim by integrating Naga-dominated areas in neighbouring Assam, Manipur and Arunachal Pradesh and uniting 1.2 million Nagas.
Naga peace accord:
- On August 3, 2015, a year after the Narendra Modi-led BJP government came to power, the NSCN(I-M) group signed a framework agreement in the presence of the Prime Minister.
- In this agreement, the Government of India recognised the unique history, culture and position of the Nagas and their sentiments and aspirations.
Nagas:
- The Nagas are not a single tribe, but an ethnic community that comprises several tribes who live in the state of Nagaland and its neighbourhood. Nagas belong to the Indo-Mongoloid Family.
More on Naga Insurgency:- Read Here
News 4: 39 exotic animals seized in India
Background:
- The Assam Police on Thursday seized 39 exotic animals from two Delhi-registered SUVs that travelled from the Mizoram-Myanmar border and were bound for Siliguri in northern West Bengal.
CITES:
- CITES (the Convention on International Trade in Endangered Species of Wild Fauna and Flora) is an international agreement between governments. Its aim is to ensure that international trade in specimens of wild animals and plants does not threaten the survival of the species.
- It is a multilateral treaty to protect endangered plants and animals from the threats of international trade.
- It was drafted as a result of a resolution adopted in 1963 at a meeting of members of the International Union for Conservation of Nature (IUCN). The convention was opened for signature in 1973 and CITES entered into force on 1 July 1975.
- It is also known as Washington Convention
- Located at Geneva, Switzerland
News 5: India ranks 132 in HDI as score drops
Background:
India ranks 132 out of 191 countries in the Human Development Index (HDI) 2021, after registering a decline in its score over two consecutive years for the first time in three decades. The drop is in line with the global trend since the outbreak of the COVID-19 pandemic during which 90% of the countries have fallen backward in human development.
Human Development Index (HDI):
- The United Nations Development Programme releases the Human Development Report, where HDI is a part of it.
- The concept of Human Development Index was developed by Amartya Sen and Mahbub-ul-Haq and was further used by UNDP to measure a country’s development.
- The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and having a decent standard of living.
- It is calculated using four indicators — life expectancy at birth, mean years of schooling, expected years of schooling, and the Gross National Income (GNI) per capita.
Human development Index categories of countries:
| Greater than 0.800 | Very High |
| Between 0.700 – 0.799 | High |
| Between 0.550 and 0.699 | Medium |
| Lower than 0.549 | Low |
Top 5 countries in HDI ranking: Switzerland, Norway, Iceland, Hong Kong, Australia
Reasons behind slippage of various countries from their ranking:
- COVID – 19
- War in Ukraine
- Environmental challenges
India’s position:
- India’s HDI score of 0.633 places it in the medium human development category, lower than its value of 0.645 in 2018, indicating a reversal in progress.
- In India’s case, the drop in HDI from 0.645 in 2018 to 0.633 in 2021 can be attributed to falling life expectancy at birth — 70.7 years to 67.2 years. India’s expected years of schooling stand at 11.9 years, and the mean years of schooling are at 6.7 years. The GNI per capita level is $6,590.
- The report lauded India for bridging the human development gap between men and women faster than the world and this development has come at a smaller cost to the environment. India’s investment in health and education, helped it come closer to the global human development average since 1990.
Gender Inequality Index:
- The index measures inequality in achievement between women and men in three dimensions — reproductive health, empowerment and the labor market.
- A low GII value indicates low inequality between women and men, and vice-versa.
- India has, however, shown a slight improvement in its Gender Inequality Index value in the latest report as compared to the 2020 index (0.490 vs 0.493), after gender inequality worsened between 2019 and 2020 (0.486 vs 0.493).
About UNDP:
- UNDP’s mandate is to end poverty, build democratic governance, rule of law, and inclusive institutions. UNDP works in 170 countries and territories to eradicate poverty and reduce inequality.
- Headquarter: New York
News 6: Odisha govt. cancels shrimp culture leases inside Bhitarkanika
Background:
- The Odisha government has canceled leases granted to two aquaculture companies for shrimp culture over a sprawling area inside Bhitarkanika Wildlife Sanctuary, which is famous for crocodile conservation and thick mangrove forests.
About Bhitarkanika Wildlife sanctuary:
- Bhitarkanika wildlife sanctuary is the 2nd largest mangrove ecosystems of India.
- It is the breeding place for the endangered salt water crocodiles which are the prime attractions of the sanctuary.
- The Gahirmatha Beach which forms the boundary of the sanctuary in the east is the largest colony of the Olive Ridley Sea Turtles.
- The sanctuary lies in the estuarial region of Brahmani-Baitrani with Bay of Bengal lying in the East.
- Bhitarkanika Mangrove is a Ramsar designated site.
News 7: Spent N-fuel storage should be worked out
- The Supreme Court has said the problem of storing spent nuclear fuel from the Kudankulam nuclear power plant has to be “worked out”, possibly with the help of experts from the Atomic Energy Regulatory Board (AERB) and officials.
Nuclear plants in India:
- Kudankulam Nuclear Power Plant is the largest nuclear power station, situated in Tirunelveli district of Tamil Nadu.
- Away from Reactor facility is located away from the reactor but is located within the plant’s premises.
Atomic Energy Regulatory Board:
- Established: 1983 under Atomic Energy Act, 1962
- Headquarter: Mumbai
- Objective: The mission of the AERB is to ensure the use of ionising radiation and nuclear energy in India does not cause undue risk to the health of people and the environment.
NPCIL:
- Nuclear Power Corporation of India Limited (NPCIL) is a Public Sector Enterprise under the administrative control of the Department of Atomic Energy (DAE), Government of India.
- Objective: Operating atomic power plants and implementing atomic power projects for generation of electricity in pursuance of the schemes and programmes of the Government of India under the Atomic Energy Act, 1962.
- NPCIL also has equity participation in BHAVINI, another PSU of Department of Atomic Energy (DAE) which implements Fast Breeder Reactors programme in the country. NPCIL is responsible for design, construction, commissioning and operation of nuclear power reactors.
News 8: Cheetah relocation to Kuno National Park, Madhya Pradesh
Background:
- The Asiatic Cheetahs went extinct in India in 1952 and now is a critically endangered species surviving only in Iran.
Cheetah reintroduction:
- The ‘African Cheetah Introduction Project in India’ was conceived in 2009 with a plan to introduce the Cheetah.
- The main goal of the Cheetah reintroduction project in India is to establish a viable cheetah metapopulation in India that allows the cheetah to perform its functional role as a top predator and provides space for the expansion of the cheetah within its historical range thereby contributing to its global conservation efforts.
African Cheetah:
- IUCN status: Vulnerable
- CITES status: Appendix – I
- Physical characteristics: Bigger in size compared to Asiatic Cheetah
News 9: Supreme Court collegium discusses judges’ appointment
Collegium system:
- Collegium system has evolved through judgements of Supreme Court and is not an act of Parliament or a provision of the Constitution.
- Third Judges Case (1998): Supreme Court on the President’s reference (Article 143) expanded the Collegium to a five-member body, comprising the CJI and four of his senior-most colleagues.
Issues associated with Collegium system:
- No accountability to collegium systems as judges select their own judges.
- There is no official procedure or written manual regarding selection of judges, absence of selection criteria and unequal representation of women, has made the process opaque , which ultimately makes it undemocratic.
- The system has not been able to prevent large vacancies in appointments of judges.
News 10: 10% quota for EWS: SC will examine if law violates basic structure
Background:
- A Constitution Bench of the Supreme Court, hearing petitions against the 10 per cent quota for Economically Weaker Sections (EWS) in government jobs and admissions, will examine whether the Constitution (103rd Amendment) Act, by which it was introduced, violates the basic structure of the Constitution.
The 103rd constitutional amendment act, 2019
- The 103rd Amendment inserts Articles 15 (6) and 16 (6) in the Constitution to provide up to 10% reservation to EWS other than backward classes, SCs and STs in higher educational institutions and initial recruitment in government posts.
- Article 15(6) empowers states to make special provision for advancement of any EWS other than those mentioned in clauses (4) and (5) and to make a special provision on their admission to educational institutions — including aided or unaided private — other than the minority educational institutions referred to in clause (1) of Article 30. This will be in addition to existing reservation and subject to a maximum of 10 percent of the total seats in each category.
- Article 16 (6) empowers the State to make any provision for reservation of appointments or posts in favor of any EWS other than classes mentioned in clause (4), in addition to the existing reservation and subject to a maximum of 10 percent of the posts in each category.
News 11: Inauguration of Kartavya path
- The revamped Central Vista Avenue (Rajpath) was renamed as Kartavya path. As per the NDMC resolution, Kartavya Path includes the erstwhile “Rajpath and Central Vista lawns”
- Kartavya path covers the areas from Netaji statue to Rajpath bhavan and the statue of Netaji Subhash Chandra Bose was unveiled on this occasion.
- Kartavya path was previously named as Kingsway and it was conceptualized by Edwin Lutyens and Herbert Baker in honor of King Edward VII.
Other important news:
Gogra Hotsprings:
- India and China on Thursday announced that their Armies have begun to disengage from Patrolling Point-15 in the Gogra-Hotsprings area of eastern Ladakh
- Gogra Post is east of the point where the Chang Chenmo river takes a hairpin bend coming southeast from Galwan Valley and turning southwest. Gogra Post are close to the boundary between two of the most historically disturbed provinces (Xinjiang and Tibet) of China.
Google doodle on Bhupen Hazarika
Bhupen Hazarika is an Assamese singer, composer, and filmmaker and he was also known as ‘Bard of Brahmaputra’.
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- Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition, a collective of the United States, United Kingdom and Norway governments, came up with a $1 billion fund.
- LEAF is supported by transnational corporations (TNCs) like Unilever plc, Amazon.com, Inc, Nestle, Airbnb, Inc as well as Emergent, a US-based non-profit.
- The world lost more than 10 million hectares of primary tropical forest cover last year, an area roughly the size of Switzerland.
- Ending tropical and subtropical forest loss by 2030 is a crucial part of meeting global climate, biodiversity and sustainable development goals. Protecting tropical forests offers one of the biggest opportunities for climate action in the coming decade.
- Tropical forests are massive carbon sinks and by investing in their protection, public and private players are likely to stock up on their carbon credits.
- The LEAF coalition initiative is a step towards concretising the aims and objectives of the Reducing Emissions from Deforestation and Forest Degradation (REDD+) mechanism.
- REDD+ was created by the United Nations Framework Convention on Climate Change (UNFCCC). It monetised the value of carbon locked up in the tropical forests of most developing countries, thereby propelling these countries to help mitigate climate change.
- It is a unique initiative as it seeks to help developing countries in battling the double-edged sword of development versus ecological commitment.
- The initiative comes at a crucial time. The tropics have lost close to 12.2 million hectares (mha) of tree cover last year according to global estimates released by Global Forest Watch.
- Of this, a loss of 4.2 mha occurred within humid tropical primary forests alone. It should come as no surprise that most of these lost forests were located in the developing countries of Latin America, Africa and South Asia.
- Brazil has fared dismally on the parameter of ‘annual primary forest loss’ among all countries. It has lost 1.7 mha of primary forests that are rich storehouse of carbon. India’s estimated loss in 2020 stands at 20.8 kilo hectares.
- Between 2002-2020, Brazil’s total area of humid primary forest reduced by 7.7 per cent while India’s reduced by 3.4 per cent.
- Although the loss in India is not as drastic as in Brazil, its position is nevertheless precarious. For India, this loss is equivalent to 951 metric tonnes worth carbon dioxide emissions released in the atmosphere.
- It is important to draw comparisons between Brazil and India as both countries have adopted a rather lackadaisical attitude towards deforestation-induced climate change. The Brazilian government hardly did anything to control the massive fires that gutted the Amazon rainforest in 2019.
- It is mostly around May that forest fires peak in India. However, this year India, witnessed massive forest fires in early March in states like Odisha, Uttarakhand, Madhya Pradesh and Mizoram among others.
- The European Union’s Copernicus Atmospheric Monitoring Service claimed that 0.2 metric tonnes of carbon was emitted in the Uttarakhand forest fires.
- Implementation of the LEAF Coalition plan will help pump in fresh rigour among developing countries like India, that are reluctant to recognise the contributions of their forest dwelling populations in mitigating climate change.
- With the deadline for proposal submission fast approaching, India needs to act swiftly on a revised strategy.
- Although India has pledged to carry out its REDD+ commitments, it is impossible to do so without seeking knowledge from its forest dwelling population.
Context:-
At the recently concluded Leaders’ Summit on Climate in April 2021, Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition, a collective of the United States, United Kingdom and Norway governments, came up with a $1 billion fund plan that shall be offered to countries committed to arrest the decline of their tropical forests by 2030.
[wptelegram-join-channel link=”https://t.me/s/upsctree” text=”Join @upsctree on Telegram”]What is LEAF Coalition?
Why LEAF Coalition?
Brazil & India
According to the UN-REDD programme, after the energy sector, deforestation accounts for massive carbon emissions — close to 11 per cent — in the atmosphere. Rapid urbanisation and commercialisation of forest produce are the main causes behind rampant deforestation across tropical forests.
Tribes, Forests and Government
Disregarding climate change as a valid excuse for the fires, Indian government officials were quick to lay the blame for deforestation on activities of forest dwellers and even labelled them “mischievous elements” and “unwanted elements”.
Policy makers around the world have emphasised the role of indigenous tribes and local communities in checking deforestation. These communities depend on forests for their survival as well as livelihood. Hence, they understand the need to protect forests. However, by posing legitimate environmental concerns as obstacles to real development, governments of developing countries swiftly avoid protection of forests and rights of forest dwellers.
For instance, the Government of India has not been forthcoming in recognising the socio-economic, civil, political or even cultural rights of forest dwellers. According to data from the Union Ministry of Tribal Affairs in December, 2020 over 55 per cent of this population has still not been granted either individual or community ownership of their lands.
To make matters worse, the government has undertaken systematic and sustained measures to render the landmark Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 ineffective in its implementation. The Act had sought to legitimise claims of forest dwellers on occupied forest land.
Various government decisions have seriously undermined the position of indigenous people within India. These include proposing amendments to the obsolete Indian Forest Act, 1927 that give forest officials the power to take away forest dwellers’ rights and to even use firearms with impunity.
There is also the Supreme Court’s order of February, 2019 directing state governments to evict illegal encroachers of forest land or millions of forest dwellers inhabiting forests since generations as a measure to conserve wildlife. Finally, there is the lack of data on novel coronavirus disease (COVID-19) deaths among the forest dwelling population;
Tardy administration, insufficient supervision, apathetic attitude and a lack of political intent defeat the cause of forest dwelling populations in India, thereby directly affecting efforts at arresting deforestation.
Way Forward
Tuntiak Katan, a global indigenous leader from Ecuador and general coordinator of the Global Alliance of Territorial Communities, aptly indicated the next steps at the Climate Summit:
“The first step is recognition of land rights. The second step is the recognition of the contributions of local communities and indigenous communities, meaning the contributions of indigenous peoples.We also need recognition of traditional knowledge practices in order to fight climate change”
Perhaps India can begin by taking the first step.