Context: India’s reliance on imported crude oil hits a record high of 87.7% in FY24.

Synopsis:

• Rising demand for fuel drives increased dependency despite efforts to boost domestic production.
• Heavy reliance on oil imports impacts trade deficit, forex reserves, and inflation.
• Government initiatives aim to reduce dependency through electric mobility and biofuels.
• India’s self-sufficiency in crude oil remains low at just 12.3% in FY24.

Context: Supreme Court hearing petitions on Electronic Voting Machines (EVMs).

Concerns Raised by the Supreme Court and Petitioners:

• Doubts about the trustworthiness of Electronic Voting Machines (EVMs).
• Lack of complete verification of EVM votes with Voter Verifiable Paper Audit Trail (VVPAT) slips.
• Reluctance of the Election Commission to share EVM source code.
• Potential manipulation of EVMs due to programmable chips.
• Need for transparency in the electoral process to ensure public confidence.

Prelims Connect (Terminology in news)

Context: World Economic Outlook report released by International Monetary Fund (IMF).

Growth drivers:

• Domestic demand and a growing working-age population.
• Consumer price inflation forecasted to decline gradually.

Challenges:  Rising crude oil prices and global supply chain issues.Top of Form

Prelims Connect (Institutions in news):

Context: A Cabinet Secretary-led committee formed by the Centre to tackle queer community issues.

Synopsis:

• The six-member committee includes secretaries from key ministries: Home Affairs, Women and Child Development, Health and Family Welfare, Social Justice and Empowerment, and the Law Ministry.
• In Supriyo Chakraborty v Union of India 2024, the Supreme Court declined to recognize same-sex marriage as a fundamental right.
• The committee will outline rights for queer couples, including ration card benefits, joint bank accounts, medical next of kin status, and more.Top of Form

+1 advantage for mains (case law)

Context: Entrepreneur and pilot Gopi Thotakura is set to become the first Indian to venture into space as a tourist on the NS-25 mission of Blue Origin

Space tourism:

• Space tourism offers recreational or business space travel opportunities.
• Includes sub-orbital and orbital missions, with
• Sub-orbital flights reach just beyond the Kármán line.
• The Kármán line is a demarcation between Earth’s atmosphere and outer space. It is set at an altitude of 100 kilometres above mean sea level.
• Orbital spacecraft take passengers much further, allowing for longer stays in space.

Concerns:

• Cost- current prices often exceeding a million dollars per passenger.
• Environmental concerns due to rocket emissions, affecting the upper atmosphere.
• Safety remains a significant issue, with a notable fatality rate among astronauts.

Source: Indian Express

Context: Electoral finance reforms that are needed after Electoral Bonds declared unconstitutional.

Electoral reforms to address concerns of electoral finance:

• Impose expenditure limits on political parties and mandate independent audits.
• Establish a tax-free National Election Fund for donations.
• Ensure internal democracy, transparency, and RTI coverage for political parties.
• Grant legal authority to the ECI to cancel elections for financial misconduct.
• Disqualify individuals with pending heinous offence cases from contesting elections.
• Empower the ECI to de-register political parties that have not contested an election for 10 years, but have benefited from tax exemptions.
• Make paid news an electoral offence with two years’ imprisonment, by declaring it a “corrupt practice” and “undue influence”

Source: Indian Express

Context: Asian Development Bank warned that India could face imported inflation as the rupee could depreciate amid the rise in interest rates in the West.

Imported Inflation:

• Occurs when the prices of goods and services in a country rise due to increased costs of imports.

Factors responsible for imported inflation:

• Currency depreciation as it makes imports more expensive.
• Higher import costs, such as rising crude oil prices.

Other issues

• Critics argue that costs do not directly determine prices; instead, it is the prices consumers are willing to pay that influence costs.
• Value is imputed from final consumer goods to inputs, shaping the pricing dynamics.
• Even currency depreciation reflects changes in nominal demand rather than directly causing input costs to rise.

Source: The Hindu

Context: RBI has allowed Foreign Institutional Investor (FII) to invest in Sovereign Green Bonds (SGrBs)

Sovereign Green Bonds (SGrBs):

• Government debt aimed at funding India’s transition to a low-carbon economy.
• Offer lower interest rates compared to conventional G-Secs, known as a greenium.
• Adoption of greenium is encouraged by financial institutions to accelerate the transition to a greener future.

Measures to facilitate SGrBs

• The 2022-23 Union Budget introduced SGrBs to finance projects such as offshore wind, solar power, and EV transition.
• Concerns about greenwashing led to the release of India’s first SGrB Framework by the Finance Ministry in November 2022.
• The framework lists eligible projects like renewable energy investments, energy-efficient buildings, public transport, and EV subsidies.

Benefits

• Supports funding for ambitious net-zero goals pledged by Prime Minister.
• Diversify green investments and gain green credentials.
• Addresses greenwashing concerns, makes green investments in India attractive.

Source: The Hindu

Context: The Supreme Court hearing petitions seeking 100% cross-verification of the Voter Verifiable Paper Audit Trail (VVPAT) slips with the vote count.

Benefits of Electronic voting machine (EVM):

• Reduced booth capturing by limiting vote casting to four votes per minute.
• Eliminated invalid votes, making the counting process more efficient.
• Eco-friendly, reducing paper consumption in large-scale elections.
• Provide administrative convenience and faster, error-free counting.
• Mechanisms like random allocation and mock polls uphold integrity of the process.
• EVMs are standalone devices, not susceptible to external hacks.

Concerns:

• Doubts persist about EVMs’ susceptibility to hacking among political parties and activists.
• The current sample size for matching EVM count with VVPAT slips may not be scientifically robust, potentially failing to detect defective EVMs.
• Booth-wise polling behavior identification raises concerns about profiling and intimidation.

Measuresto enhance transparency and confidence in the election process:

• 100% use of VVPAT ensures voters can verify their votes.
• A scientific method for deciding the sample size for matching EVM count with VVPAT slips.
• If errors occur, VVPAT slips for the entire region should be counted for accuracy.
• “Totaliser” machines can aggregate votes from multiple EVMs for candidate-wise counts.

Source: The Hindu

Challenges faced by disabled consumers:

• Inaccessibility of goods and services and customer support options
• Remains invisible to businesses and corporates

Different reforms to address the concerns of disabled:

• Rights of Persons with Disabilities Act (RPWDA) and the Consumer Protection Act (CPA) empower consumers with disabilities.
• RPWDA mandates universally designed consumer goods and accessible services.
• Complaints under RPWDA go to Disability Commissions, with non-binding directives.

The way ahead:

• CPA lacks specific provisions for consumers with disabilities, unlike RPWDA.
• Aligning CPA with RPWDA is crucial for equal protection and accessibility.
• Businesses should make offerings accessible to tap the market of persons with disabilities.
• Awareness about rights and resources can be raised through initiatives like Jago Grahak Jago Campaign.
• Government could consider bringing comprehensive accessibility guidelines for all goods and services.

Source: The Hindu