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Investors in the popular small saving schemes Public Provident Fund (PPF) and Sukanya Samriddhi Account (SSA), whose rates have not been hiked since January 2019, are unlikely to get higher returns anytime soon, a top government official has indicated.
This is because the government is no longer in complete agreement with the Shyamala Gopinath Committee formula adopted in April 2016 to reset small savings interest rates every quarter in line with the prevailing yields on government bonds of comparable tenures.
The last time the PPF and SSA interest rates were tweaked was when they were slashed sharply in April 2020.
Opinion
A shared G20 vision for the ocean commons (Page no. 9)
(GS paper 3, Economy)
The oceans hold untrammelled opportunities for the prosperity of our planet. It is therefore not surprising that the most prosperous cities and countries are endowed with a coast.
The G20 countries together account for around 45% of the world’s coastlines and over 21% of the exclusive economic zones (EEZs).
The oceans are reservoirs of global biodiversity, critical regulators of the global weather and climate, and support the economic well-being of billions of people in coastal areas.
The term ‘blue economy’ includes not only ocean-dependent economic development, but also inclusive social development and environmental and ecological security.
Recognising the contribution of the ocean economy for sustainable development, Prime Minister Narendra Modi said, “To me, the blue chakra in India’s flag represents the potential of the... ocean economy.”
The Government of India has launched bold initiatives to promote the development of a blue economy. The Sagarmala initiative promotes port-led development.
The Shipbuilding Financial Assistance Policy encourages domestic ship-building. The Pradhan Mantri Matsya Sampada Yojana is actively engendering a ‘blue revolution’ through sustainable and responsible development of the fisheries sector.
The Sagar Manthan dashboard tracks vessels in real-time. The Deep Ocean Mission explores deep-sea resources in the EEZ and continental shelf as well as development of technology for harnessing them.
India adopted the Coastal Regulation Zone notification to classify and better manage coastal regions and conserve ecologically sensitive coastal and marine areas including ecosystems.
As the host of the World Environment Day in 2018, Mr. Modi gave a clarion call to eliminate single-use plastic. In 2022, the global community rallied together for a multilateral treaty on addressing plastic pollution.
The same year, India introduced an amendment to the Plastic Waste Management Rules banning select single-use plastic items and introduced policies for extended producer responsibility in waste management in order to combat plastic pollution, including in the marine environment.
Text & Context
Screening for autism: how to assess and identify the severity of the disorder (Page no. 11)
(GS paper 2, Health)
Autism spectrum disorder (ASD) is a complex developmental condition that affects social communication, interactions, and behaviour. In India, it remains widely misunderstood and underdiagnosed.
Signs of ASD can vary but difficulty with social interactions, communication challenges, repetitive behaviours, and restricted interests are common.
Early diagnosis and intervention are crucial for better outcomes and support for families. To ensure a culturally sensitive approach to assessment and treatment, it is important to consult qualified healthcare professionals experienced in diagnosing and treating ASD in India.
According to the Diagnostic and Statistical Manual of Mental Disorders (DSM-5), ASD is considered to be a single disorder. The previous system of classifying different levels of autism is no longer used.
The DSM itself is a handbook that doctors and researchers use to diagnose and study mental health conditions; DSM-5 is the latest edition.
The DSM-5 assesses the severity of ASD by evaluating social communication and restricted, repetitive behaviours. The severity of ASD is determined by assigning a level of support such as 1, 2 or 3 based on the individual’s need for assistance and the impact of their symptoms on their daily lives.
The level that the doctor assigns will reflect how much external assistance a person is likely to need for their day-to-day activities. Assessing this correctly can help doctors and other specialists work with the individual to provide the right kind of support.
ASD affects people in different ways, and the DSM-5 has new descriptions to help understand these differences. Instead of ascribing different levels of autism, it has three “levels of support” to describe the severity.
Level 1 is where a person with autism may have social challenges that need some help. They may have trouble starting conversations, responding to others, or making friends without the right forms of help. They may also have a need for routine and organisation.
At level 2, the person needs more support than at Level 1. Communication challenges can make it hard for the individual to have coherent conversations or understand nonverbal cues. Daily routines and changes may also cause significant distress.
It is at level 3 that the person needs the highest level of support. They may avoid interacting with others, have difficulty making friends or participating in imaginative play, and find it very hard to change their focus or routines. Repetitive behaviours may affect their ability to function, and communication challenges will be significant.
News
Amid protests, Finance Bill approved by both Houses (Page no. 13)
(GS paper 2/3, Governance/Economy)
The government completed its budgetary exercise for 2023-24, with both Houses of Parliament approving the Finance Bill, 2023, along with a fresh amendment introduced by Union Finance Minister Nirmala Sitharaman to rectify an error in the Securities Transaction Tax rates on option contracts in the earlier version of the Bill.
The Rajya Sabha was initially adjourned within a minute after it assembled at 11 a.m., without conducting any business, as a stalemate continued with both sides sloganeering against the other.
The Opposition members were dressed in black, as a mark of protest against the disqualification of Congress leader Rahul Gandhi as an MP.
When it reconvened, the Upper House returned the Jammu and Kashmir Appropriation Bill and the Finance Bill to the Lok Sabha on Monday without any discussion.
The Opposition raised slogans to protest against Mr. Gandhi’s disqualification and insisted on a Joint Parliamentary Committee (JPC) probe on the irregularities in the Adani Group of companies.
The proceedings lasted for 12 minutes after the House reconvened post-lunch. Rajya Sabha Chairman Jagdeep Dhankhar put the Bills to voice vote and they were approved without any discussion.
Later, the amended Bill was cleared by the Lok Sabha amid heavy sloganeering by members of Opposition parties.