The Hindu Newspaper Analysis 9 February 2023

The Hindu Newspaper Analysis for UPSC

The Hindu Newspaper Analysis 8 February 2023

• The Monetary Policy Committee (MPC) of the Reserve Bank of India on Wednesday raised the benchmark lending rate by 25 basis points (bps) to 6.5% as the RBI targets persistently high core or underlying inflation that it sees as a risk to the improving outlook for the economy.
• Observing that the rate increases since May were still working their way through the system, Governor Shaktikanta Das said, “The MPC was of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored, break the persistence of core inflation and thereby strengthen the medium-term growth prospects.”

The Hindu Editorial Today

About MPC:

• The Reserve Bank of India Act, 1934 was amended by Finance Act (India), 2016 to constitute MPC.
• It is tasked with framing monetary policy using tools like the repo rate, reverse repo rate, bank rate, cash reserve ratio (CRR).
• It has been instituted by the Central Government of India under Section 45ZB of the RBI Act that was amended in 1934.

Functions:

• The MPC is entrusted with the responsibility of deciding the different policy rates including MSF, Repo Rate, Reverse Repo Rate, and Liquidity Adjustment Facility

Composition of MPC:

• The committee will have six members. Of the six members, the government will nominate three. No government official will be nominated to the MPC.
• The other three members would be from the RBI with the governor being the ex-officio chairperson. Deputy governor of RBI in charge of the monetary policy will be a member, as also an executive director of the central bank.

• The Indian Space Research Organisation (ISRO), along with the Indian Navy, has conducted an important trial for the Gaganyaan, human space flight mission. On Tuesday, they carried out initial recovery trials of the Crew Module in the Navy’s Water Survival Test Facility (WSTF) in Kochi.
• “The trials were part of the preparation for crew module recovery operations for the Gaganyaan mission that will be carried out in Indian waters with the participation of Indian Government agencies, the overall recovery operations being led by the Indian Navy,” the space agency said.
• According to ISRO, as the safe recovery of the crew is the final step to be accomplished for any successful human spaceflight, it is of paramount importance and it has to be carried out with the minimum lapse of time.
• The project envisages demonstration of human spaceflight capability by launching a crew of three members to an orbit of 400 km for a three-day mission and bringing them back safely to earth, by landing in Indian waters.

About:

• Gaganyaan is a mission by the Indian Space Research Organisation (ISRO).
• Under the Gaganyaan schedule:
• Three flights will be sent into orbit.
• There will be two unmanned flights and one human spaceflight.
• The Gaganyaan system module, called the Orbital Module will have three Indian astronauts, including a woman.
• It will circle Earth at a low-earth-orbit at an altitude of 300-400 km from earth.

• Under the “collegium system” — itself the product of a 1993 judgment of the Supreme Court — the three senior-most judges of the Supreme Court make recommendations for appointments to High Courts; while the government may provide inputs, and ask for reconsideration, if a recommendation is reiterated, then formally, the government is bound to accept it.
• The now well-known controversy around the appointment of L. Victoria Gowri to the Madras High Court saw a reversal of this pattern. After the collegium recommended her name for judgeship, a petition was filed in the Supreme Court challenging this appointment, on the basis that she had, allegedly, engaged in “hate speech” against Muslims and Christians.
• The Chief Justice of India (CJI), who heads the collegium, stated that the collegium had taken cognisance of new material; but before anything could be done about it, the appointment process was completed.
• The first problem is opacity. The functioning of the collegium can be contrasted with judicial appointments in other democratic countries, such as the United States, South Africa, or Kenya; while the specific processes are different, they are all open.
• in India, the candidate’s name is effectively made public after their selection by the collegium. The selection process is behind closed doors, where the parties involved are the collegium and the government (through the Intelligence Bureau).
• given that the government retains the power of formal appointment, when it approves a candidate, it can rush the process through (as happened in the present case). In other cases, the government can exercise a pocket veto (which it has also done with respect to the Madras High Court, by refusing to appoint a judge in the teeth of an express direction by the collegium).
• Once a collegium recommendation has been made, the only way of contesting it is through a legal challenge. However, that challenge must be before the Supreme Court itself, leading to a set of awkward situations: the decision of the collegium — the three (or five) senior-most judges of the Supreme Court — must be challenged before their own junior colleagues (and these colleagues will be assigned the case by the CJI, who is himself the head of the collegium).
• While technically, in recommending a name, the collegium acts as an administrative body, and all administrative decisions are open to judicial review, in practice, one can immediately see the problem with judges being asked to sit in judgment over their own senior colleagues.

• Over the last decades, we have also been at the forefront of developing new green technologies and solutions such as hydrogen, offshore wind, batteries and carbon capture and storage — solutions that are essential for the world to succeed in the green transition it desperately needs.
• Our common ambition is for the Nordic region to become the most sustainable and integrated region in the world by 2030. We work together to build a green, competitive, and socially sustainable region. However, the Nordic countries alone cannot deliver the green transition the world requires. Together, the Nordics and India can deliver key technologies and solutions to stop climate change and boost green growth.

• Lay-offs have been taking place not only in India, but in major economies like the U.S. too. Large, medium and small enterprises as well as start-ups have let go of dozens or even thousands of workers.
• Compared to conventional industries such as manufacturing, public utilities, and conventional financial sectors such as traditional banking and insurance, forming unions in modern and emerging sectors is much more difficult.
• If these conditions are violated, they switch to other organisations as they have the required skill sets (exit); hence, labour turnover in this sector has been rather high. They do not collectively bargain or strike or resort to legal action as middle-class employees who go to court would be stigmatised (voice). And many survive by simply keeping quiet (loyalty).

• Shimla has received only 6 cm of snowfall so far this winter — the season extends from November to March. This has been the second lowest snowfall recorded in the State capital since 2008-09, when snowfall data began to be documented as separate from rainfall. Earlier data was recorded as precipitation, the India Meteorological Department (IMD) said.
• Surender Paul, Director of the Meteorological Centre, India Meteorological Department, Shimla, said precipitation itself — both snow and rain — has been decreasing, and seasons are showing a shift in pattern. “The winter months are shrinking and the snowfall in peak winter is reducing slightly. Earlier, snowfall was a regular feature in Shimla in December, January, February and even March, but now it’s not the same,” he said.

• Disinvestment or divestment, in this context, is when the government sells its assets or a subsidiary, such as a Central or State public sector enterprise. Minority disinvestment, majority disinvestment, and complete privatisation are the three main approaches to disinvestment. On fruition of minority disinvestment, the government retains a majority in the company, typically greater than 51%, thus ensuring management control. In the case of majority divestment, the government hands over control to the acquiring entity but retains some stake whereas in complete privatisation, 100% control of the company is passed on to the buyer.
• The Union Finance Ministry has a separate department for undertaking disinvestment-related procedures called the Department of Investment and Public Asset Management (DIPAM). The government may disinvest in order to reduce the fiscal burden or bridge the revenue shortfall for that year.
• It also uses disinvestment proceeds to finance the fiscal deficit, to invest in the economy and development or social sector programmes, and to retire government debt. Disinvestment also encourages private ownership of assets and trading in the open market.

Q) Who among the following is associated with ‘One Hundred Poems of Kabir’, a translation of Kabir’s finest poems in English?

1. Mahatma Gandhi
2. Hasrat Mohani
3. Rabindranath Tagore
4. Shyamlal Gupta

निम्नलिखित में से कौन कबीर की बेहतरीन कविताओं के अंग्रेजी अनुवाद ‘वन हंड्रेड पोयम्स ऑफ कबीर’ से जुड़ा है?

1. महात्मा गांधी
2. हसरत मोहानी
3. रवींद्रनाथ टैगोर
4. श्यामलाल गुप्ता

Explanation:

• Rabindranath Tagore’s English translation and compilation One Hundred Poems of Kabir was first published in 1915, and has been a classic reprinted and widely circulated particularly in the West.

Q) Consider the following statements:

1. Asiatic lions are naturally found in India only.
2. Double-humped camels are naturally found in India only.
3. One-horned rhinoceros is naturally found in India only.

Which of the statements given above is / are correct?

1. 1 only
2. 2 only
3. 1 and 3 only
4. 1, 2 and 3

निम्नलिखित कथनों पर विचार करें:

1. एशियाई शेर प्राकृतिक रूप से भारत में ही पाए जाते हैं।
2. दो कूबड़ वाले ऊँट प्राकृतिक रूप से भारत में ही पाए जाते हैं।
3. एक सींग वाला गैंडा प्राकृतिक रूप से भारत में ही पाया जाता है।

ऊपर दिए गए कथनों में से कौन-सा/से सही है/हैं?

1. केवल 1
2. केवल 2
3. केवल 1 और 3
4. 1, 2 और 3

Explanation:

• S1: The Asiatic lion’s range is restricted to the Gir National Park and environs in the Indian state of Gujarat.
• S2: The Bactrian camel (Camelus bactrianus) is a large, even-toed ungulate native to the steppes of Central Asia.
• S3: The one-horned rhinoceros is native to the Indian subcontinent (not only India). The Indian rhinoceros once ranged throughout the entire stretch of the Indo-Gangetic Plain, but excessive hunting and agricultural development reduced their range drastically to 11 sites in northern India and southern Nepal.

Q) Consider the following statements about International Solar Alliance:

1. This initiative was first proposed by the United Nations Development Programme.
2. It is a treaty-based inter-governmental organization.
3. It is headquartered in Haryana, India.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

अंतर्राष्ट्रीय सौर गठबंधन के बारे में निम्नलिखित कथनों पर विचार करें:

1. यह पहल सबसे पहले संयुक्त राष्ट्र विकास कार्यक्रम द्वारा प्रस्तावित की गई थी।
2. यह एक संधि-आधारित अंतर-सरकारी संगठन है।
3. इसका मुख्यालय हरियाणा, भारत में है।

ऊपर दिए गए कथनों में से कौन सा/से सही है/हैं?

1. केवल 1 और 2
2. केवल 2 और 3
3. केवल 1 और 3
4. 1, 2 और 3

Explanation:

• The alliance is a treaty-based inter-governmental organization.
• This initiative was first proposed by Indian Prime Minister Narendra Modi in a speech in November 2015 at Wembley Stadium (London HA9 0WS, United Kingdom), in which he referred to sunshine countries as Suryaputra (“Sons of the Sun”).
• The ISA is headquartered in Haryana, India.

Q) Consider the following statements regarding Coalition for Disaster Resilient Infrastructure (CDRI).

1. It is an international coalition of countries, United Nations (UN) agencies, multilateral development banks, the private sector, and academic institutions, that aims to promote disaster-resiliant infrastructure.
2. It was launched at the 2019 UN Climate Action Summit.

Which of the above statements is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

कोएलिशन फॉर डिजास्टर रेजिलिएंट इन्फ्रास्ट्रक्चर (सीडीआरआई) के संबंध में निम्नलिखित कथनों पर विचार करें।

1. यह देशों, संयुक्त राष्ट्र (यूएन) एजेंसियों, बहुपक्षीय विकास बैंकों, निजी क्षेत्र और शैक्षणिक संस्थानों का एक अंतरराष्ट्रीय गठबंधन है, जिसका उद्देश्य आपदा-प्रतिरोधी बुनियादी ढांचे को बढ़ावा देना है।
2. इसे 2019 यूएन क्लाइमेट एक्शन समिट में लॉन्च किया गया था।

उपरोक्त कथनों में से कौन-सा/से सही है/हैं?

1. केवल 1
2. केवल 2
3. 1 और 2 दोनों
4. न तो 1 और न ही 2

Explanation:

• CDRI:
• Launched by PM Modi in September 2019 at the UN Secretary-General’s Climate Action Summit in New York, US.
• A platform where knowledge is generated and exchanged on different aspects of disaster and climate resilience of infrastructure.
• It will create a mechanism to assist countries to upgrade their capacities and practices, with regard to infrastructure development in accordance with their risk context and economic needs.

Q) Consider the following statements:

1. Paris Club is an informal group of creditor nations whose objective is to find workable solutions to payment problems faced by debtor nations.
2. China and India, both non-Paris Club members.

Which of the above statements is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

निम्नलिखित कथनों पर विचार करें:

1. पेरिस क्लब लेनदार राष्ट्रों का एक अनौपचारिक समूह है जिसका उद्देश्य ऋणी राष्ट्रों द्वारा सामना की जाने वाली भुगतान समस्याओं का व्यावहारिक समाधान खोजना है।
2. चीन और भारत, दोनों गैर-पेरिस क्लब सदस्य।

उपरोक्त कथनों में से कौन-सा/से सही है/हैं?

1. केवल 1
2. केवल 2
3. 1 और 2 दोनों
4. न तो 1 और न ही 2

Explanation:

• The Paris Club (est. 1956, HQ: Paris (France)) is a group of officials from major creditor countries whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries
• Objective: To find sustainable debt-relief solutions for countries that are unable to repay their bilateral loans.
• Members: 22 permanent members (all are a member of the OECD)
• India and China are not members. India acts as an ad-hoc participant

Mains Practice Question:

Q) Why India needs to invest in quality school and higher education as well as healthcare ? (150 words)

भारत को गुणवत्तापूर्ण स्कूल और उच्च शिक्षा के साथ-साथ स्वास्थ्य सेवा में निवेश करने की आवश्यकता क्यों है? (150 शब्द)

 

 

 

 

Sharing is caring!