Syllabus: GS-III

Subject:Trade and External sector

Topic: WTO & its issues

Issue: Fisheries Subsidies at WTO

Context:Upcoming WTO’s 13th Ministerial Conference (MC13) in Abu Dhabi.

Curbing fishery subsidies:

• Developed nations are demanding to curb fishery subsidies that contribute to overcapacity and overfishing.
• However,developing nations,including India insist on specific carve outs to protect its resource-poor fishers and preserve the space to develop its deep sea capacities like developed countries.
• India has demanded it as part of special & differential treatment for developing nations that
  • poor fishers should be exempt from all subsidy cuts irrespective of where they fish,
  • And all fishers in developing nations should be exempt from subsidy cuts for fishing within the exclusive economic zone (EEZ) of 200 nautical miles.
  • A 25 year exemption to developing nations from subsidy cuts for fishing in waters beyond EEZ that will help them to develop their fishing capacities.

A partial agreement “Agreement on Fisheries Subsidies” on curbing harmful fisheries subsidies, to curb illegal, unreported and unregulated fishing, was agreed to at the previous WTO MC12 “Geneva package” in 2021.

Source: The Hindu

Syllabus: GS-III

Subject: Monetary policies and instruments

Topic: Broad/Overlap

Issue: Monetary Policy

Reasons for the high liquidity deficit in India’s banking system:

• Higher currency leakage during the festival season
• Limited government spending– high government balances with RBI.
• Advance tax payments of businesses reducing deposits in banks.
• Retail investors have been moving out of bank deposits because of bullish equity markets.

Related Concepts in News:

• Long Term repo operations:
  1. To inject long-term liquidity into the banking system.
  2. While repo rate is for overnight, long-term repo operations usually range from one to three years.

• Variable rate repo (VRR):
  1. Unlike a traditional fixed-rate repo where the interest rate is determined by RBI, a VRR involves an auction where banks submit bids specifying the interest rate they are willing to pay for short-term funds from the central bank.
• Marginal Standing facility(MSF):
  1. It is a window provided by the Reserve Bank of India (RBI) to scheduled commercial banks in India to avail additional overnight liquidity in case they face a severe shortage of funds.
  2. Interest rate is above repo-rate
• Standing deposit facility(SDF):
  1. It is a tool used by the RBI to absorb excess liquidity from the banking
  2. It allows overnight deposit facility for banks to park excess liquidity (money) and earn interest.
• Liquidity Crunch:
  1. A time when cash resources are in short supply and demand is high resulting in high interest rates

Source: The Hindu

Syllabus: GS-III

Subject: Medical science and Health

Topic: Pathogens & agents of diseases

Issue: Eradication of Leprosy

Synopsis:

• Government aims at stopping transmission of leprosy at the subnational level by 2027,by shifting from two-drug to three-drug regimen.

Leprosy:

• It is a chronic infectious disease caused by Mycobacterium leprae.
• Transmitted: Via droplets from the nose and mouth during close contact.
• Types: PauciBacillary (PB) and Multibacillary (MB) cases.
• Recommended treatment regimen(Multi Drug Therapy) — Dapsone, Rifampicin and Clofazimine(may cause side-effects).

National Leprosy Eradication Programme:

• Centrally sponsored Health Scheme under the National Health Mission of the Ministry of Health and Family Welfare,
• Detect cases of leprosy at an early stage and provide complete treatment, free of cost.

Source: The Hindu

Syllabus: GS-II

Subject: Polity

Topic: Bills/Acts/Rules

Issue: Telecommunications Act,2023

Telecommunications Act, 2023:

Highlights:

1. Replaces: The Indian Telegraph Act, 1885, and The Indian Wireless Telegraphy Act, 1933.
2. Authorisation: From central Government to establish, operate, or provide telecommunications networks and services.

(From license-permit regime to calculated authorization)

1. Spectrum Allocation: Through auction, except for specified entities and purposes like defence.
2. The Universal Service Obligation Fund was created to improve connectivity in remote areas, modified into “Digital Bharat Nidhi“.
3. Right of way: Provides a mechanism to exercise the right of way for laying telecom infrastructure in public as well as private property.

Issues/Concerns:

1. Surveillance: Allows for interception, disclosure, and suspension of telecommunication/services in case of a public emergency or interest or safety.
2. Privacy of users: Biometric authentication of their users as a measure to curb fraud.
3. Phone tapping in the name of national security/interest.

Case law(for Mains):

Source: The Hindu

 Syllabus: GS-II

Subject: International Relations

Topic: International Institution

Context: Sweden’s attempt to join NATO cleared a major hurdle after Turkiye’s parliament supported its membership

Issue: Swden’s NATO membership.

Synopsis:

• Turkey and Hungary previously opposed Sweden’s NATO bid, but Turkey’s recent support marks a significant shift.
• Sweden’s membership would strengthen NATO’s strategic position by extending its presence along almost the entire Baltic Sea coastline.

Institution in News(Prelims):

Source: Indian Express

Syllabus: GS-III

Subject: Economic Development

Topic: Financial markets: Broad/Overlap

Issue: Listing of securities on International Exchanges.

Context: The Ministry of Finance has introduced a scheme allowing Indian companies to directly list their equity shares on international exchanges at GIFT-IFSC.

Synopsis:

• Aims to boost foreign investment, and broaden the investor base.
• It will enable unlisted public Indian companies to list their shares on permitted international exchanges.
• Facilitated by SEBI and the Ministry of Corporate Affairs.

Take Away Notes (Prelims):

Source: Indian Express