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UPSC Key—9th February, 2024: White Paper, Repo Rate and Pradhan Mantri Matsya Kisan Samridhi Sah Yojana (PM-MKSSY)Premium Story

UPSC Key—9th February, 2024: White Paper, Repo Rate and Pradhan Mantri Matsya Kisan Samridhi Sah Yojana (PM-MKSSY)Premium Story

UPSC Key—9th February, 2024: White Paper, Repo Rate and Pradhan Mantri Matsya Kisan Samridhi Sah Yojana (PM-MKSSY)Premium Story

Important topics and their relevance in UPSC CSE exam for February 9, 2024. If you missed the February 8, 2024 UPSC CSE exam key from the Indian Express, read it here

FRONT PAGE

Polls ahead, Govt says economy turned stagnant in 10 yrs of UPA

Syllabus:

Preliminary Examination: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.

Mains Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment

Key Points to Ponder:

• What’s the ongoing story- Strained public finances, corruption, double-digit inflation, ailing banking sector following excessive lending during the boom phase and policy uncertainty marred India’s business climate and dented its image under the United Progressive Alliance (UPA) government during FY04-FY14, the Union Government of India said in its white paper on the Indian economy tabled in Parliament on Thursday.

• What is a white paper, and is this one?

• For Your Information-A white paper typically provides information about a specific issue. A government may present a white paper — say, on black money — to make people aware of the nature and scope of the problem and the possible ways to resolve it. In that sense, what was presented in Parliament is not exactly a white paper, because it is a comparison between the record of two governments on a variety of economic parameters. A comprehensive review of the state of the Indian economy as things stood in 2014, when the incumbent government first took charge, would have been a white paper on the economy.

The document explains why the white paper is being presented at the end of 10 years instead of at the start. “Our government refrained from bringing out a white paper on the poor state of affairs then. That would have given a negative narrative and shaken the confidence of all, including investors. The need of the hour was to give hope to the people, to attract investments, both domestic and global and to build support for the much-needed reforms.”

• Why is it being presented now?

• What is its objective?

• What does it say?

Other Important Articles Covering the same topic:

????What white paper says—and doesn’t

RBI leaves repo rate unchanged, food inflation uncertainty persists

Syllabus:

Preliminary Examination: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.

Mains Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment

Key Points to Ponder:

• What’s the ongoing story- The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) Thursday left the repo rate — the rate at which the RBI lends to banks — unchanged at 6.5 per cent for the sixth time in a row as uncertainty over food inflation continues to pose a threat to inflation.

• Why repo rate is unchanged?

• What will happen to lending, deposit rates?

• What’s the basis of 7 per cent GDP projection?

• Why there’s no change in the policy stance?

• What RBI says about inflation projection?

• For Your Information- The six-member rate-setting panel, headed by Governor Shaktikanta Das, has decided not to tinker with the repo rate — the rate at which RBI lends money to banks to meet their short-term funding needs — to manage and balance the retail inflation and growth.

A major reason for the continual pause in the repo rate hike is because retail inflation continues to remain above the 4 per cent target of the RBI. Retail inflation (CPI) rose to 5.55 per cent in November from 4.87 per cent in October and 5.02 per cent in September, and further reached 5.69 per cent in December. Even in FY25, the RBI has forecast a 4.5 per cent retail inflation. “Going forward, the inflation trajectory would be shaped by the evolving food inflation outlook. Rabi sowing has surpassed last year’s level. The usual seasonal correction in vegetable prices is continuing, though unevenly. Yet considerable uncertainty prevails on the food price outlook from the possibility of adverse weather events,” Das said.

This is the sixth monetary policy on the trot when the MPC has kept the repo rate unchanged at 6.5 per cent. Last time, the repo rate was raised from 6.25 per cent to 6.5 per cent in February 2023.

• What happens to lending rates if the repo rate is unchanged?

• What happens when RBI hikes repo rate?

• What happens when RBI decreases repo rate?

• What is repo rate?

• What is the Current Repo Rate?

• What is Cash Reserve Ratio (CRR) Rate?

• How this move will impact overall Economy?

• What does accommodative stance mean with respect to monetary policy?

• What is Monetary Policy Framework?

• The latest monetary policy review was significant for a variety of reasons-Why?

• What are the steps taken by RBI to control inflation?

• What is Monetary policy?

• What is the primary objective of the monetary policy?

• There are two aspects to any monetary policy-What are they?

• The Monetary Policy Committee (MPC) is a Statutory Body-True or False?

• Under Section 45ZB of the amended (in 2016) RBI Act, 1934, the central government is empowered to constitute a six-member Monetary Policy Committee (MPC)- What is the Monetary Policy Committee (MPC)?

• What is the composition of Monetary Policy Committee (MPC)?

• Try to Comprehend-In any economy, the main role of the central bank is to maintain price stability. In other words, the primary goal is to contain inflation. The inflation rate for any period (month, quarter or year) is the rate at which the general price level has gone up. If the overall price level — typically calculated by an index (such as the Consumer Price Index) that has the prices of different commodities — in a particular month is 5% more than what it was in the same month last year, then inflation rate is said to be 5%.

The targeted level of inflation varies from one country to another. In the US, this target is 2%. In India, the law demands RBI to target 4%. But apart from the exact target, the law also provides a comfort zone — 2% to 6% — within which the inflation can stray. These numbers are decided based on research that suggests the ideal rate of inflation most conducive to sustained economic growth. since late 2019, the RBI has rarely come close to the target rate. Worse still, the headline inflation has stayed outside the upper limit for the better part of the past 14 months.

• The amended RBI Act, 1934 provides for the inflation target be set by the Government of India, in consultation with the Reserve Bank, once in every five years-What is inflation target?

• Know the Types of Inflation like Moderate Inflation, Galloping Inflation, Hyper-Inflation, Stagflation, Deflation, Core Inflation, Headline Inflation etc.

• What are the causes of Inflation in the present situation

• How Inflation is Measured in India?

• Impact of increase in the REPO and CRR on Money Supply on an Economy-Inflation or Deflation?

• Know about these terms-Bank Rate, Reverse Repo Rate, Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF), Marginal cost of funds based lending rate (MCLR) etc.

Other Important Articles Covering the same topic:

????A Goldilocks phases

????RBI targets inflation at 4% for sustainable economic growth

????Why MPC kept repo rate unchanged?

GOVT & POLITICS

Cabinet approves Rs 6,000-crore fishery scheme

Syllabus:

Preliminary Examination: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.

Main Examination: General Studies III: Issues related to direct and indirect farm subsidies and minimum support prices

Key Points to Ponder:

• What’s the ongoing story- The Centre on Thursday approved the “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)”.

• Pradhan Mantri Matsya Kisan Samridhi Sah Yojana-Know its features

• For Your Information-The PM-MKSSY is a central sector sub-scheme under the Pradhan Mantri Matsya Sampada for formalisation of the fisheries sector and supporting fisheries micro and small enterprises. Under PM-MKSSY, an investment of over Rs 6,000 crore will be done over a period of next four years from financial year 2023-24 to 2026-27 in all States/Union Territories.

Union Information and Broadcasting Minister Anurag Singh Thakur said this is an attempt in the direction of formalisation of the fisheries sector. Under this initiative, a National Fisheries Digital Platform will be created to provide 40 lakh small and micro-enterprises work-based identities. The Cabinet also approved extension of Fisheries and Aquaculture Infrastructure Development Fund (FIDF) for another three years up to 2025-26 within the already approved fund size of Rs 7,522.48 crore and budgetary support of Rs 939.48 crore.

• Fishing Industry in India-Know present scenario of Indian fisheries

• Marine fisheries in India vs Inland fisheries in India-compare and contrast

• Do You Know-According to the Central Marine Fisheries Research Institute (CMFRI), as per Census 2016, the country’s marine fisherfolk population is 3.77 million, comprising approximately 0.90 million families. Nearly 67.3 per cent of these families were in the below poverty line (BPL) category.

• Twelfth ministerial conference of the World Trade Organisation (WTO) and the Agreement on Fisheries Subsidies (AFS)-Know in detail

• Why Agreement on Fisheries Subsidies (AFS) is first-of-its-kind?

• Know the significance of the adoption of Agreement on Fisheries Subsidies (AFS)

• Agreement on Fisheries Subsidies (AFS) and Sustainable Development Goal (SDG) 14.6-connect the dots

• Agreement on Fisheries Subsidies (AFS) prohibits three kinds of subsidies. What are they?

• What is India’s demand on overcapacity and over-fishing (OCOF)?

• What Comprehensive Marine Fishing Policy of 2004 headed by Dr. B. MeenaKumari and the existing Guidelines for deep-sea Fishing in the Exclusive economic zones says about fisheries subsidies?

• What is Farmer Producers’ Organisation or farmers’ producer company (FPC)?

• How Farmer Producers’ Organisation have countered fragmented holdings?

• For Your Information-A Farmer Producers’ Organisation (FPO) is a collective of farmers who have holdings or work in a geographical cluster. It can be registered under the Companies Act or as a cooperative under the Societies Registration Act. Farmer Producers’ Organisation (FPOs) have demonstrated their potential to trigger cluster-based farming, bringing in economies of scale in input management facilitating agri-extension, enabling technology adoption, providing quality assurance and helping farmers market their produce.

• What are the Government schemes and initiatives to promote FPOs?

Other Important Articles Covering the same topic:

????Dr. B. Meenakumari Committee Report on Fishing is Submitted

????Farmers’ collectives: Taking Farmer Producer Organisations beyond ‘romance’ to ‘relationships’

EXPRESS NETWORK

CAPF personnel don’t share mental issues for fear of being mocked, says final draft report on suicides in security forces

Syllabus:

Preliminary Examination: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.

Mains Examination: General Studies III: Various Security forces and agencies and their mandate.

Key Points to Ponder:

• What’s the ongoing story- A task force formed to look into the reasons behind the suicides and fratricides in the Central Armed Police Forces (CAPFs) has stated several reasons behind such cases and issued several recommendations in its report, including mental health screening and the way senior officers should behave with their juniors.

• What do you understand by ‘Central Armed Police Forces’?

• What are the reason for fratricide and suicides in the Central Armed Police Forces?

• For Your Information-The CAPF comprises forces such as the Central Reserve Police Force (CRPF), Border Security Force (BSF), Sashastra Seema Bal (SSB), Indo-Tibetan Border Police (ITBP), Central Industrial Security Force (CISF), Assam Rifles, and National Security Guard (NSG). Together, they have around nine lakh personnel. Rai said a task force has been set up to identify relevant risk factors as well as relevant risk groups and suggest remedial measures for the prevention of suicides and fratricides in CAPFs and AR.

The report of the task force is awaited. On February 4, The Indian Express had reported that discrimination among sub-groups, the trauma of being abused, bullying at the workplace, fear of initiation of disciplinary or legal action, and lack of communication between the company commander and jawans were some of the reasons cited by a task force formed to look into suicide and fratricide cases in CAPFs. Sharing details of suicide cases year-wise, Rai said, “119 suicide cases reported in 2011, 118 in 2012, 113 in 2013, 125 in 2014, 108 in 2015, 92 in 2016, 125 in 2017, 96 in 2018, and 129 in 2019.”

• ‘The task force was constituted by the Union of Home Ministry to study and analyse incidents and prepare a comprehensive report’-Know in detail

• Do You Know-In its final draft report submitted to the Union Ministry of Home Affairs (MHA) last month after studying 642 suicide cases and 51 fratricidal deaths over five years, the task force has found that three major factors — working conditions, service conditions, and personal/individual issues — led to these incidents.

The task force, constituted by the MHA to study and analyse incidents and prepare a comprehensive report, has found that some of the important reasons for service conditions are: trauma of being abused, bullying at the workplace, leave-related problems, extended working hours, and inadequate time for rest.

It has also said mental health-related issues are still “taboos” in the security forces, and the personnel hesitate to share their problems because of the fear of being mocked and taunted as weak by other colleagues. “The newly recruited jawans are highly educated and their immediate bosses should be sensitised to treat them with dignity, hear their grievances and recognise their services. They cannot be treated as mere subordinates, who do not know anything about the strategy of the operations. Seniors should stop using abusive language with their juniors and behave decently with them,” said a source, citing the report.

In the report, the task force has said that it has found that over 80 per cent of suicides happen when personnel return to work after availing leave, and major of them occurred between 7 to 15 days after returning from home. “The task force has found that the trigger for suicides may be either family or duty-related. If one of the fronts is easy and smooth, the stress level of the personnel gets managed considerably. The cases of suicide attempted and committed by women personnel are less as compared to male personnel. Male personnel hesitate to share their problem because of the fear of being mocked by other personnel,” the source said.

The task force has recommended that there should be a provision for mental health screening of all the CAPF personnel, returning from leave or other long-term duties through a questionnaire. “Some of the common challenges associated with combat zones are insomnia, agitation, and nightmares, which are considered to be one of the important contributors to suicidality,” the source said.

The task force has also found some of the key reasons for working conditions are prolonged deployment in high-risk areas, long separation from families/forced bachelorship, and tough duty hours inhospitable. The task force was constituted by the home ministry to study and analyse incidents and prepare a comprehensive report. In its draft report submitted to the MHA in January, the task force found three major factors — service conditions, working conditions, and personal/individual issues — that led to incidents of suicides and fratricides. “Among reasons for suicides, the task force recorded extended working hours, inadequate time to rest and recreation, lack of job satisfaction as compared with their counterparts of other sectors, sense of isolation and lack of social as well as familial support, and lack of robust grievance redressal mechanism,” a source said, citing details from the draft report.

• What factors contribute to the high incidence of mental health issues within paramilitary organisations?

• What are the potential consequences of the increasing prevalence of mental health issues within military personnel?

• What are the steps taken by the government to address the same?

Other Important Articles Covering the same topic:

????Suicide and Fratricide Cases in the Armed Cases

????Stress seen as major cause of Indian military fratricides, suicides

THE IDEAS PAGE

An ethical minefield

Syllabus:

Preliminary Examination: Current events of national and international importance.

Mains Examination: General Studies III: Science and Technology- developments and their applications and effects in everyday life.

Key Points to Ponder:

• What’s the ongoing story-Simantini Ghosh Writes: Tech mogul Elon Musk announced on Twitter/X in the first week of February that the first human implantation of the Neuralink device — called Telepathy — has been achieved and the recovery and initial data collection are in progress and going well. Neuralink is a tech startup and their proprietary chip is a surgically implantable device. It can record a massive amount of data from individual neurons and transmit it to a computer, which in turn can read the intention coded in that data to execute a certain task.

• What is Neuralink?

• What will Neuralink actually do?

• Neuralink’s mission is twofold-What are they?

• For Your Information-Founded in 2016 by Musk and a group of engineers, Neuralink is building a brain chip interface that can be implanted within the skull, which it says could eventually help disabled patients to move and communicate again, and also restore vision.

Neuralink’s device has a chip that processes and transmits neural signals that could be transmitted to devices like a computer or a phone. The company hopes that a person would potentially be able to control a mouse, keyboard or other computer functions like text messaging with their thoughts. Neuralink also believes its device will eventually be able to restore neural activity inside the body, allowing those with spinal cord injuries to move limbs. The San Francisco and Austin-based company also aspires to cure neurological conditions such as Alzheimer’s and dementia.

• What is the science behind Neuralink?

• What progress has Neuralink made?

• “One major problem with Neuralink is scant published data that support its claims”-What Claims?

• What are the controversies associated with Neuralink?

• For Your Information-According to the author, a primary ethical concern is the ownership of the data. There is no clarity on who the recorded data belongs to, which will be decoded to interpret the “intentions” of a person to control a digital device. Owning the intention to execute a behaviour resides solely within a human being. Embedding proprietary technology enabling data recording and routing it through a proprietary app raises a crucial question: Will the subjects retain ownership of this recorded data? Will Neuralink have data ownership? If yes, what can they technically do with this ownership of “intent to carry out an action” on behalf of a third party? In the current situation, it is easy to overlook the ramifications of this issue because the population on which the trial is being conducted is clinically disabled and there is a direct benefit to them. But Neuralink’s ambition and vision extend beyond clinical use to enhance human cognition and possibilities. Keeping that in mind, the ethics of data ownership is non-trivial and extremely important to settle from the get-go. Any wrong precedent here can endanger human agency and privacy at an unprecedented scale. In summary, perhaps Neuralink would serve itself better if it were more open about the data it generates and about its device, rather than letting the world speculate. Secrecy does not instill confidence and trust is something scientists have learned the hard way not to bestow on corporate entities too generously. Neuralink and Musk still have a long way to go even if they are to get the scientific community cautiously optimistic.

Other Important Articles Covering the same topic:

????Audacious and opaque

EXPLAINED

NEW GUIDELINES TO MAKE CINEMA HALLS ACCESSIBLE TO THOSE WITH DISABILITIES

Syllabus:

Preliminary Examination: Economic and Social Development

Main Examination: General Studies II: Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; mechanisms, laws, institutions and Bodies constituted for the protection and betterment of these vulnerable sections

Key Points to Ponder:

• What’s the ongoing story-The deadline for sending public comments on the draft guidelines for accessibility for the hearing and visually impaired in movie halls expires next week. Once the guidelines are notified, film production houses and movie theatres will be mandated to either run dedicated shows of films for impaired, or else ensure that provisions are made for them in theatres to be able to enjoy the movie-going experience without any discrimination.

• But first, why such guidelines?

• What do the guidelines propose?

• When do these guidelines come into effect?

• What does discrimination on the basis of disability mean?

• How many people are disabled in India?

• Disabled population Statistics given by Census 2011-Know the Data

• Supreme Court on Ravinder Kumar Dhariwal and Anr. v. Union of India and Ors-Know the Key Points

• Rights of Persons with Disabilities Act, 2016 [RPwD Act]-Key Highlights

• Disable and Disability-Know these terms (Multidimensional approach like Social, Physical, Economical-try to connect the dots)

• What are the Constitutional Frameworks for Differently abled in India?

• Government Programmes and initiatives for Disabled in India

• United Nations Convention on the Rights of Persons with Disabilities (UNCRPD) and International Day of Persons with Disabilities by the United Nations.

• Do You Know-The United Nations came up with its first-ever guidelines on access to social justice for people with disabilities to make it easier for them to access justice systems around the world. The guidelines outline a set of 10 principles and detail the steps for implementation. The 10 principles are: Principle 1: All persons with disabilities have legal capacity and, therefore, no one shall be denied access to justice on the basis of disability. Principle 2: Facilities and services must be universally accessible to ensure equal access to justice without discrimination of persons with disabilities. Principle 3:  Persons with disabilities, including children with disabilities, have the right to appropriate procedural accommodations. Principle 4 Persons with disabilities have the right to access legal notices and information in a timely and accessible manner on an equal basis with others. Principle 5: Persons with disabilities are entitled to all substantive and procedural safeguards recognized in international law on an equal basis with others, and States must provide the necessary accommodations to guarantee due process. Principle 6: Persons with disabilities have the right to free or affordable legal assistance. Principle 7 Persons with disabilities have the right to participate in the administration of justice on an equal basis with others. Principle 8: Persons with disabilities have the rights to report complaints and initiate legal proceedings concerning human rights violations and crimes, have their complaints investigated and be afforded effective remedies. Principle 9: Effective and robust monitoring mechanisms play a critical role in supporting access to justice for persons with disabilities. Principle 10: All those working in the justice system must be provided with awareness-raising and training programmes addressing the rights of persons with disabilities, in particular in the context of access to justice.

Other Important Articles Covering the same topic:

????Making films accessible to the disabled can serve everyone

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