India, U.K. ink 2 deals during Rajnath’s visit
Syllabus: GS-II
Subject: International Relations
Topic: Bilateral Relations
Issue: India-U. K Relations.
Context: This is the first visit by an Indian Defence Minister to the U.K after over two decades, the last visit was by George Fernandes in 2002. Historic collaboration.
Synopsis:
- India and the U.K. signed MoU for international cadet exchange and LoA on defence collaboration in R&D.
- Talks emphasized defence relations, security issues, and enhancing defence industrial cooperation.
- Also stressing a non-transactional, natural partnership between the two countries.
- The LoA on R&D involves India’s DRDO and the U.K.’s DSTL, fostering people-to-people exchanges and defence research collaboration.
- Rajnath Singh paid tributes to Mahatma Gandhi in London and received a Guard of Honour before bilateral meetings.
UK’s Significance for India: | Support for UNSC seat, NSG membership, and development objectives. Economic and technological partnership. Defense and security cooperation. |
India’s Significance for UK | Role in “Global Britain” ambitions. Seizing opportunities in the Indo-Pacific. Economic ties, investments, and rejuvenation of the Commonwealth. |
Conclusion: Rajnath Singh’s historic U.K. visit emphasizes defense collaboration and partnership.
Source: The Hindu
World Bank retains India growth forecasts for FY24 and FY25
Syllabus: GS-III
Subject: Economic Development;
Topic: Issues relating to planning, mobilization, of resources, growth, development, and employment.
Issue: World Bank’s Growth Forecast.
Context: The World Bank maintains India’s economic growth forecast at 6.3% for FY2023/24, citing a slow post-pandemic recovery and weak external demand.
Synopsis:
- The post-pandemic recovery in India is expected to slow, with private investment and consumption weakening in 2022-23.
- The World Bank projects a recovery in FY2024/25 and FY2025/26, with growth gradually increasing to 6.4% and 6.5%, respectively.
- The global growth outlook is less optimistic, with the World Bank forecasting a third consecutive year of slowing growth in 2024.
- Merchandise exports in India slowed due to weak external demand, while public investment and vibrant services activity supported growth in 2023.
- The report notes a marginal deceleration in investment, robust public investment, improved corporate balance sheets, and slowing private consumption growth.
- Government consumption is expected to grow slowly as part of efforts to lower current spending, and government revenues may benefit from solid corporate profits.
World Bank:
Conclusion: Despite national estimates projecting higher growth, the World Bank retains India’s economic forecast, anticipating a gradual recovery amid post-pandemic challenges.
Source: Indian Express
Majority of cities far from clean air target, says study
Syllabus: GS-III
Subject: Ecology
Topic: Environmental pollution and degradation.
Issue: Air Quality.
Context: A study by Respirer Living Sciences and Climate Trends analyzed air quality data in 49 Indian cities over five years.
Synopsis:
Highlights of the Study:
- 27 cities declined PM 2.5, while only four met or exceeded the targeted reduction under the National Clean Air Programme (NCAP).
- The NCAP aimed to reduce average particulate matter concentrations by 40% by 2026 in 131 cities, but progress seems insufficient.
- Delhi, among other major cities, reports marginal declines or even an increase in pollution levels.
- Varanasi, Agra, and Jodhpur are notable for achieving more than 40% reduction in PM 2.5 levels, exceeding the 2026 targets.
- The study emphasizes the influence of factors like geography, emissions, and meteorology on pollution levels.
- Only four out of 92 cities analyzed have more than 10 continuous ambient air quality monitors, affecting accurate tracking of pollution.
- The report suggests that the impact of cities’ actions on improving air quality is yet unclear, despite some positive strides under the NCAP.
- Strengthened monitoring with additional air quality stations is recommended for better understanding and mitigation of air pollution challenges.
Top of Form
Background:
National Clean Air Program:
Conclusion: Indian cities face air quality challenges, showing insufficient progress towards National Clean Air Programme goals, necessitating strengthened monitoring and action.
Source: The Hindu
The Commerce Ministry sets up a task force to resolve trade barrier issues for Exporters
Syllabus: GS-III;
Subject: Economic Development
Topic: effects on industrial growth
Issue: Trade Barriers.
Context: India’s commerce ministry forms a task force to address trade barriers faced by exporters abroad, aiming for greater market access.
Synopsis:
- Aim to enhance market access by tackling issues like lengthy registration requirements and unreasonable standards/rules.
- Focus on improving mutual recognition agreements (MRAs) with different countries to align product standards with importing nations’ requirements.
- Emphasis on ensuring that global standards promote trade and don’t act as non-tariff barriers.
- Global Trade Research Initiative recommends India’s swift action on the removal of non-trade barriers for achieving the one trillion dollar outbound shipment target by 2030.
- Key Indian exports facing high barriers include chilies, tea, rice, meat, fish, and chemicals in various countries.
- Non-tariff measures (NTMs) like regulations, standards, and testing are identified as barriers when arbitrary and beyond scientific justification.
Background:
What is mutual recognition agreement (MRA)?
· A Mutual Recognition Agreement (MRA) is a formal agreement between two or more countries or trading partners. It allows them to recognize and accept each other’s standards, regulations, and conformity assessment procedures for specific products or services. · By doing so, MRAs aim to facilitate trade and market access by reducing redundant testing, certification, and inspection requirements. |
Conclusion: The Commerce ministry’s task force targets swift resolution of trade barriers for Indian exporters, promoting global trade and market access.
Source: Indian Express
Likely hike of 50% in FY25 Budget outlay for MGNREG
Likely hike of 50% in FY25 Budget outlay for MGNREG (Indian Express).
Syllabus: GS-II
Subject: Governance
Topic: Welfare schemes for vulnerable sections of the population.
Context: India plans a 50% increase in the 2024-25 budget for MGNREGS.
Issue: MGNREGA.
Synopsis:
- The Indian government is expected to allocate around Rs 90,000 crore for MGNREGS in the 2024-25 Budget, a 50% increase.
- The higher allocation aims to signal support for the rural employment scheme ahead of general elections.
- FY24 saw a lower provision of Rs 60,000 crore due to misappropriation concerns, leading to a supplementary grant.
- Initiatives to curb leakages include the mandatory Aadhaar-Based Payment System for wage payments and DBT, saving 10% on wages.
- The government is addressing corruption allegations, halting funds to West Bengal, and focusing on plugging leakages.
- Despite challenges, MGNREGS generated 2.45 billion person-days of work in FY24, with the potential to reach 2.94 billion by March.
Background
About MGNREGA.
- MGNREGA, launched in 2005, ensures 100 days of employment annually for rural households through unskilled manual work.
- As of 2022-23, it has 15.4 crore active workers.
- A legal right to work, addressing chronic poverty, mandates at least one-third of beneficiaries to be women.
- Wages align with state-specific minimum wages for agricultural laborers.
- A demand-driven scheme guarantees work within 15 days of request or provides an unemployment allowance.
Conclusion: India’s budget signals a robust 50% increase for MGNREGS, addressing past misappropriation concerns, and bolstering rural employment ahead of elections.
Source: Indian Express