10 July 2024, The Hindu
Committee proposes opening of Ratna Bhandar on July 14
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Prelims Syllabus: Current Events of National and International Importance
- A high-level committee under chairmanship of Orissa High Court judge Justice Biswanath Rath for inventorisation of jewelleries and other valuables stored in Ratna Bhandar, treasury of Shree Jagannath Temple, Puri, has reccommended its opening on July 14, marking the access of treasury after 46 years.
- “A consensus was reached during the meeting to recommend that the State government unlock the inner Ratna Bhandar on July 14.
- We have prepared the proceedings accordingly,” said Justice Rath after committee’s second meeting in Puri on Tuesday.
A new trend – India needs more than troops to combat militants in Jammu
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GS 3: Security Challenges and their Management in Border Areas - Linkages of Organized Crime with Terrorism
- Five Indian Army personnel were killed on July 8 after terrorists ambushed an Army convoy in Badnota village, which is 124 km from Kathua town in Jammu.
- The attack also came on the death anniversary of Hizbul Mujahideen operative Burhan Wani, who was killed in an encounter on July 8, 2016, in south Kashmir.
- This is the fourth terror-incident in the State within 48 hours and the latest in a series of attacks in the last few months, especially in the Jammu region, reinforcing a new trend of terrorism in Jammu and Kashmir shifting towards the Rajouri-Poonch area.
A Budget that drives growth with stability
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GS 3: Government Budgeting
- The final Budget for 2024-25, to be presented on July 23, would be the first Budget of the new government.
- It is an opportunity for the government to provide its medium-term growth and employment perspective along with its policy priorities.
- Given the continued global economic slowdown, India will have to rely largely on domestic growth drivers.
- The short-term objective could be to ensure a minimum 7% growth, while the medium-term objective may be to sustain the real GDP growth rate in the range of 7%-7.5%.
- This would be facilitated by bringing down the fiscal deficit relative to GDP from the current levels to the Fiscal Responsibility and Budget Management (FRBM) consistent level of 3% in the next three to four years.
- The employment objective is not independent of the growth objective except for an additional emphasis on the relatively more labour-intensive sectors in the composition of output.
The shape of manufacturing 3.0 for Modi 3.0
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GS 3: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment.
- Prime Minister Narendra Modi has formed the government, albeit now as head of a coalition in his third term.
- The new government must redouble its efforts on economic reforms, particularly related to manufacturing.
- India’s continued urbanisation will see hundreds of millions of agriculture workers relocate to cities to find formal employment in the coming decades.
- A failure to generate low-skilled employment could push staggering stress on India’s governance structures.
- Success in manufacturing will not only help India’s domestic trade and employment goals but also expand resources for national security — which is good for American interests, too.
The innate limitations in executing iCET
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GS 3: Defence Technology collaboration
A thaw in ties between Andhra and Telangana
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GS 2: Issues and Challenges Pertaining to the Federal Structure
- The meeting between the Chief Ministers of Telangana and Andhra Pradesh on Saturday was the first step towards improving ties between the two States.
- Telangana Chief Minister A. Revanth Reddy and Andhra Pradesh Chief Minister Chandrababu Naidu discussed several issues that have strained relations between the two States for more than a decade.
- The two hour-long meeting comes at a time when opinions on the bifurcation of erstwhile united Andhra Pradesh continue to play a role in the politics of both States.
What is the draft Digital Competition Bill?
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GS 2: Government Policies and Interventions for Development in various sectors and Issues arising out of their Design and Implementation
- In February 2023, the Ministry of Corporate Affairs (MCA) constituted a Committee on Digital Competition Law (CDCL) to examine the need for a separate law on competition in digital markets.
- The CDCL deliberated on the issue for a year and came to the conclusion that there was a need to supplement the current ex-post framework under the Competition Act, 2002 with an ex-ante framework.
- It laid out this ex-ante framework in the draft Digital Competition Bill.
On reducing tariffs for smartphone components
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GS 3: Changes in Industrial Policy and their Effects on Industrial Growth
- The India Cellular and Electronics Association (ICEA), an industry body representing mobile and other electronics assembly and manufacturing units, has called for a reduction of tariffs on certain components for smartphones.
- The demand appears, at first blush, to be at odds with the goal of the government — and domestic players — to expand the domestic industrial base for components.
- However, the ICEA, whose members have included Apple and Foxconn, has argued that it opposes tariff cuts for components that are widely manufactured in India, such as open cells and LED light parts.
Geospatial view on maternal healthcare for the tribal population in Gujarat
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GS 2: Issues Relating to Development and Management of Social Sector/Services relating to Health, Education, Human Resources
- AUN report in May 2023 highlighted that India accounted for over 17% of global maternal deaths in 2020, holding the highest share among the 10 countries responsible for 60% of global maternal deaths, stillbirths, and newborn deaths.
- The report emphasised the critical need to focus on maternal healthcare to achieve the Sustainable Development Goals (SDGs) aimed at improving maternal and child health outcomes and ensuring access to quality healthcare services (UNDP 2017).
India, Russia to boost bilateral trade to $100 billion by 2030
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GS 2: Effect of Policies and Politics of Developed and Developing Countries on India’s interests
- India and Russia agreed to increase bilateral trade to $100 billion dollars by 2030, including the use of national currencies to circumvent Western sanctions, as Prime Minister Narendra Modi and Russian President Vladimir Putin sat down for the 22nd Annual Summit here on Tuesday.
- This was their first meeting since the war in Ukraine began two years ago, and Mr. Modi made a “pained” plea for an end to civilian deaths and the conflict.
‘Note ban, GST, COVID lost Rs. 11.3 lakh cr. And 1.6 cr. Informal jobs’
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Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
- The economic loss, particularly to India’s informal sector owing to the cumulative impact of macroeconomic shocks since 2016, including the demonetisation of high-value currency notes, the rollout of the Goods and Services Tax (GST) and the COVID-19 pandemic, is estimated at 4.3% of India’s GDP in 2022-23 or ₹11.3 lakh crore, India Ratings and Research said on Tuesday.
Minimum Support Price, loan waiver crucial issues for farmers
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Issues related to direct and indirect farm subsidies and minimum support prices
- The Bharatiya Janata Party-led National Democratic Alliance faced huge setbacks in the Lok Sabha elections in the agrarian belts of the country.
- The BJP lost in at least 38 seats in five States where the farmers’ movement against the policies of the Narendra Modi government was strong.
- This government is a continuation of the first two Narendra Modi regimes that favoured the corporate houses and tweaked policies in the agriculture sector in their favour.
