In News: The ongoing discussions in the northeastern states have been sparked by India's recent initiatives to reevaluate the Free Movement Regime (FMR) agreement with Myanmar.

Free Movement Regime (FMR)

• Historical Context
  • Origins of Boundary
    • The Treaty of Yandaboo in 1826 defined the India-Myanmar boundary, separating communities with shared ethnicity and culture.
  • Impact of Treaty
    • The border created divisions among communities like the Nagas, Kuki-Chin-Mizo, disrupting their shared heritage without consensus.
• Establishment of FMR
  • Act East Policy 
    • In 2018, India introduced the FMR as part of the Act East policy, allowing visa-free cross-border movement up to 16 km.
  • Border Pass Requirement
    • Residents require a one-year border pass for stays up to two weeks, aiming to enhance local trade, education, healthcare, and diplomatic ties.
• Considerations for Revisiting FMR
  • Security Concerns
    • Illegal Infiltration
      • Apprehensions about the influx of Chin, Naga, and Rohingya communities, impacting local demographics and resources.
  • Trafficking and Smuggling
    • Porous borders facilitate drug and arms movement, posing internal security threats.
  • Insurgency Activities 
    • FMR misuse by groups like Kuki National Organisation and Kangleipak Communist Party-Lamphel in Manipur.
• Socio-economic and Regional Issues
  • Cultural Identity Impact
    • Migration raises concerns about preserving indigenous cultures.
  • Environmental Consequences
    • Unregulated cross-border movement contributes to deforestation and resource extraction.
  • Regional Dynamics
    • China's influence in Myanmar adds complexity to border security.

Major Aspects of India-Myanmar Relations

• Historical and Cultural Ties
  • Deep Roots
    • Centuries-old ties with shared cultural and religious connections, rooted in Buddhism.
  • Treaty of Friendship
    • The 1951 treaty forms the basis for diplomatic relations.
• Economic Cooperation
  • Trade and Investment
    • India ranks as Myanmar's 4th largest trading partner and a significant source of investment.
  • Joint Projects
    • Involvement in projects like the Kaladan Multimodal Transit Transport Project and the Trilateral Highway Project.
• Disaster Relief
  • Prompt Assistance
    • India's swift response to natural calamities in Myanmar, demonstrating solidarity during events like Cyclone Mora and the Shan State earthquake.

Way Forward

• Focus on Shared Interests
  • Economic Cooperation 
    • Expanding collaboration in infrastructure, energy, and trade for mutual benefit.
  • Cultural Exchanges 
    • Encouraging exchanges and religious tourism to build trust and understanding.
• Comprehensive Border Management
  • Balanced Approach
    • Developing a comprehensive strategy for border management, addressing security concerns while facilitating legitimate activities.
• Supporting Democratic Transition
• Long-term Goal
• India's engagement in Myanmar should aim to support a peaceful transition to democracy, aligning with the vision for regional stability and prosperity.

Source: TH

In News: From March 2024 onwards, Paytm Payments Bank Ltd has been prohibited by the Reserve Bank of India from receiving new deposits and conducting credit transactions.

Payments Bank

• Background
• Formation Based on Recommendations
• In 2014, the Reserve Bank of India (RBI) established Payments Bank following the suggestions of the Nachiket Mor Committee.
• Scale and Risk Focus
• Designed to operate on a smaller scale with minimal credit risk.

• Objectives
• Financial Inclusion
• Primary objective is to promote financial inclusion by providing banking and financial services to unbanked and under-banked areas.
• Targeted Beneficiaries 
• Aimed at assisting the migrant labor force, low-income households, small entrepreneurs, etc.

• Payments Bank in India
• Currently, India has six Payment Banks: Airtel Payment Bank, India Post Payment Bank, Fino, Paytm Payment Bank, NSDL Payment Bank, and Jio Payment Bank.

• Features
• Differentiated and not universal banks, operating on a smaller scale.
• Minimum paid-up capital requirement of Rs. 100,00,00,000.
• Promoters must contribute a minimum of 40% to the paid-up equity capital for the first five years.

• Activities Allowed
• Cannot accept more than ₹2 lakh in deposits per account.
• Not permitted to lend directly but can sell loan products and promote third-party loan products.
• Authorized for personal payments and cross-border remittances on current accounts.
• Issuance of debit cards is allowed.

RBI Action Against Paytm

• RBI Directive
• Ceasing Key Services 
• Paytm Payments Bank directed to stop accepting money in any customer account, including wallets and prepaid instruments, from March 1.
• Reason for Action
• RBI cites persistent non-compliance and ongoing supervisory concerns as reasons for the intervention.

• Key Points of RBI Direction
• Barred Paytm from accepting deposits or top-ups after February 29.
• Nodal accounts of parent company One97 Communications and Paytm Payments Services to be terminated by February 29.
• Settlement of pipeline transactions and nodal accounts initiated on or before February 29 to be completed by March 15.

• Customer Implications
• Withdrawal Freedom 
• Customers allowed to freely withdraw or use funds in their Paytm accounts, including savings and current accounts, prepaid instruments, etc., within available balances.

• Reasons Behind RBI Action
• Historical Scrutiny
• Paytm Payments Bank under RBI scrutiny since 2018.
• Unspecified Concerns
• While exact reasons not specified, potential issues related to KYC compliance and IT-related matters.
• Data Security Concerns 
• RBI wary of depositors' money exposure to risks and identified lapses in information protection within the One97 Communications group.

Source: IE

In News: Arising from fossil fuels, Acid Rain stands as a multifaceted environmental concern, characterized by numerous causes and far-reaching consequences. 

Acid Rain

• Definition
• Acid Rain Overview: Acid rain, or acid deposition, encompasses any form of precipitation containing acidic components, like sulfuric or nitric acid, that descends to the ground in wet or dry forms.
• Variety of Forms: It includes rain, snow, fog, hail, and even acidic dust.

• Formation of Acid Rain
• Chemical Processes: Sulphur Dioxide (SO2) and Nitrogen Oxide (NOx) combine with water and oxygen in the atmosphere, forming sulfuric acid (H2SO4) and nitric acid (HNO3), respectively.
• Dissolution in Water: These acids dissolve in water droplets, giving rise to acid rain, snow, or fog.
• Acidic pH: The typical pH of acid rain ranges from 4.2-4.4, making it more acidic than regular rain with a pH of approximately 5.6.

• Causes of Acid Rain
• Fossil Fuel Combustion: Burning sulfur-containing fossil fuels releases sulfur dioxide (SO2), while higher-temperature combustion results in nitrogen oxides (NOx).
• Prevalence in Vehicles: Common in vehicles like automobiles and prevalent in industrial processes and power plants burning coal.
• Natural Sources: Volcanic eruptions and lightning contribute to sulfur dioxide and nitrogen oxides in the atmosphere.

• Forms of Acid Rain/Deposition
• Wet Deposition: Acidic acids from the atmosphere mix with rain, snow, fog, or hail and fall to the ground.
• Dry Deposition: Acidic particles and gases deposit without moisture, posing threats to various surfaces, including water bodies, vegetation, and buildings.

Impacts of Acid Rain

• Impact on Aquatic Life
• Disruption of Reproduction: Acid rain makes water bodies inhospitable, disrupting reproductive patterns of aquatic life such as trout and fish.
• Population Decline: Fish population decline is observed in affected rivers and lakes.

• Impacts on Marine Water and Species Distribution
• Altered pH: Increased acidity adversely affects marine environments, impacting the distribution and survival of organisms.
• Challenges for Shell-forming Species: Shell-forming marine species face challenges in building and maintaining protective shells.

• Impacts on Physical Infrastructure
• Threats to Monuments 
• Acid rain poses substantial threats to structures, causing deterioration and discoloration.
• Taj Mahal Example 
• Iconic structures like the Taj Mahal exhibit degradation due to sulfuric acid reactions.

Acid Rain Mitigation Measures

• Technological Solutions
• Flue-Gas Desulphurisation
• Coal power plants employ technologies like flue-gas desulphurisation to significantly reduce sulfur dioxide emissions.

• Regulatory Measures
• Graded Response Action Plan (GRAP)
• Emergency measures implemented to prevent air quality deterioration in Delhi-NCR region.
• Emissions Regulations
• Introduction of BS-VI vehicles and establishment of a new commission for air quality management.

• International Cooperation
• EANET Initiative
• Governments collaborate globally, exemplified by the Acid Deposition Monitoring Network in East Asia (EANET).
• Data Collection
• EANET collects data on acid substance deposition and its environmental impact.

Way Forward

• Sustainable Practices: Implementing sustainable practices and promoting renewable energy sources.
• Stringent Regulations: Enforcing stringent emissions regulations to combat environmental challenges.
• International Collaboration: Fostering international cooperation and investing in innovative technologies for climate change mitigation.

Source: TH

In News: In a recent analysis, researchers from the Bhabha Atomic Research Centre (BARC) have determined that the radioactive discharges originating from Indian nuclear plants have been minimal.

Key Findings of the Analysis

• Minimal Environmental Impact
  • Limited Impact: Radioactive discharges from nuclear plants were observed to have minimal impact on the environment.
  • Insignificant Values: Concentrations of fission products beyond a 5 km radius were below detectable levels, indicating their insignificance.
• Types of Radioactive Discharges
  • Gaseous and Liquid Waste: Atmospheric releases include noble gases, Argon-41, radioiodine, and particulate radionuclides.
  • Liquid Discharge: Consists of fission product radionuclides, radioiodine, tritium, strontium-90, caesium-137, and cobalt-60.
  • Regulatory Adherence: Discharges follow strict radiological and environmental regulatory regimes.
• Air Particulates
  • Alpha Activity Levels: Average gross alpha activity in air particulates at nuclear plants was consistently below 0.1 mBq per cubic meter.
  • Exception at Narora: Narora Atomic Power Station showed higher values due to increased atmospheric dust load.
• Specific Marker Concentrations
  • Low Concentrations: Average concentrations of radionuclides in air particulates, including iodine-131, caesium-137, and strontium-90, were below 1 mBq per cubic meter.
  • Water Bodies: Concentrations of caesium-137 and strontium-90 in nearby rivers, lakes, and sea water remained below specified levels.
• Sediment Concentrations
  • Within Variation: Concentrations of caesium-137 and strontium-90 in sediments showed no trend of deposition or accumulation, staying within natural variations.
  • Statistical Consistency: Levels observed aligned with statistical variations in natural sediments.
• Tritium Detection
• Detectable Levels: Tritium was detectable at all sites, except at Kudankulam Nuclear Power Station.
• Higher Concentrations: Rajasthan Atomic Power Station exhibited relatively higher tritium concentrations.

Significance of the Findings

• Reinforcing India's Commitment: Findings hold potential significance in reinforcing India's commitment to a safe nuclear power program.
• Safe Operation: Minimal public doses emphasize the safe operation of Indian nuclear power plants.

Implications of Radioactive Discharge

• Environmental Impact
  • Ecosystem Effects: Radioactive substances can impact ecosystems, with potential effects on plants, animals, and microorganisms.
  • Contamination Risks: Soil and sediment can face contamination, affecting water bodies and posing risks to aquatic life.
• Human Health Concerns
  • Radiation Exposure: Nearby populations may face ionizing radiation exposure, with potential health risks, including cancer.
  • Internal Exposure: Inhaling or ingesting radioactive particles can lead to internal exposure, as witnessed in the Chernobyl disaster.
• Long-term Health Risks
  • Cancer Risk: Exposure to certain radioactive substances increases the risk of cancer, particularly with prolonged exposure.
  • Genetic Mutations: Ionizing radiation may cause genetic mutations, raising the risk of hereditary disorders.
• Agriculture and Food Chain
  • Contamination Risks: If radioactive substances enter the food chain, agricultural products and livestock may become contaminated.
  • Fukushima Example: The 2011 Fukushima Nuclear Disaster raised concerns about radiation-contaminated agricultural products.
• Economic Consequences
• Property Value Decline: Areas near nuclear facilities may experience a decline in property values due to safety concerns.
• Industry Reputation: Repeated incidents can harm the reputation of the nuclear industry, impacting investment and development.

Initiatives Related to Safe Radioactive Discharge

• International Conventions & Agreements
  • Early Notification Treaty: Convention on Early Notification of a Nuclear Accident obliges countries to promptly inform about nuclear accidents.
  • Spent Fuel Management Treaty: Joint Convention on the Safety of Spent Fuel Management and on the Safety of Radioactive Waste Management addresses global radioactive waste management.
• Convention on Nuclear Safety (CNS)
  • Binding Safety Treaty: CNS, adopted in 1994, ensures nuclear power plant safety and establishes regulatory frameworks.
• EU Directives on Radioactive Waste
  • EU Regulations: European Union's directives mandate national policies for managing radioactive waste and spent fuel.

India’s Initiatives

• Atomic Energy Regulatory Board (AERB)
  • Regulatory Oversight: AERB ensures nuclear and radiation safety, establishing and enforcing regulations for safe nuclear facility operation.
• Environmental Impact Assessment (EIA)
  • Pre-approval Assessments: Rigorous environmental impact assessments for nuclear projects, evaluating potential impacts, including radioactive discharges.
• Effluent Treatment and Dilution
  • Waste Management: Nuclear facilities employ effluent treatment to manage liquid radioactive waste before discharge, using dilution and dispersion techniques.

Source: TH

In News: A juvenile black-crowned night heron, identified by its ring, arrived at a nearby pond in Imphal, but unfortunately, it succumbed to its condition. 

Black-crowned Night Heron

• Physical Characteristics
  • Medium-sized heron with a sturdy build.
  • Scientific Name: Nycticorax nycticorax.
• Distribution
  • Found across North America, with localized presence in Central America and the Caribbean.
• Habitat
  • Primarily associated with large wetlands.
  • Inhabits diverse wetland environments, including swamps, streams, rivers, marshes, mud flats, and lakeshores.
• Distinctive Features
  • Stocky body, short neck, and legs.
  • Black crown, gray body, and striking red eyes.
  • Weight: 727 to 1014 grams.
  • Wingspan: 115 to 118 centimeters.
  • Length: 58 to 66 centimeters.
  • Females and males exhibit similar appearances, with females slightly smaller.
• Social Behavior
  • Displays social behavior throughout the year.
  • Often associates with other heron species.
• Migratory Patterns
  • Classified as a migrating species.
• Diet
  • Opportunistic feeder with a primary diet of fish.
  • Supplementary diet includes leeches, earthworms, and various aquatic and terrestrial insects.
• Conservation Status
• IUCN Red List: Least Concern.

Source: WIKI

In News: Recent research indicates that green roofs treated with mycorrhizal fungi promote a more varied soil community, enhancing the likelihood of sustaining green roofs in the long term.

Green Roofs

• Introduction
• Green roofs, also known as 'vegetated roofs' or 'living roofs,' are roof structures featuring a waterproofing membrane, growing medium (soil), and vegetation (plants).
• Essential components include drainage, stormwater management, and a waterproof membrane for protection.

• Types of Green Roofs
• Intensive Green Roofs
• Resemble elevated parks with complex structural support.
• Accommodate shrubs, trees, walkways, and benches.
• Include irrigation, drainage, and root protection layers.

• Extensive Green Roofs
• Lightweight roofs supporting native ground cover.
• Require minimal maintenance.
• Primarily serve environmental benefits without functioning as accessible gardens.

Benefits of Green Roofs

• Longer lifespan compared to conventional roofs.
• Natural insulation reduces energy costs.
• Creates peaceful retreats for people and animals.
• Absorbs stormwater, potentially reducing the need for elaborate drainage systems.
• Improves air quality and mitigates the Urban Heat Island Effect on a broader scale.

Key Facts about Fungi

• Introduction
• Fungi belong to one of the six biological kingdoms, along with Animalia, Plantae, Protista, Archaea/Archaebacteria, and Bacteria/Eubacteria.
• Eukaryotic organisms with membrane-bound organelles and clearly defined nuclei.

• Reproduction and Distribution
• Reproduce both sexually and asexually.
• Terrestrial or aquatic, with some species found in Arctic and Antarctic regions.
• Thrive in temperate and tropical regions with sufficient moisture.

• Importance of Fungi
• Decompose dead organic material, contributing to nutrient cycling in ecosystems.
• Serve as food sources, particularly in the form of mushrooms.
• Facilitate fermentation in the production of various food items.
• Yield secondary metabolites, including antibiotics and anticoagulants, with medicinal applications.

Source: GR

In News: Recently, individuals associated with an obscure Hindutva group unlawfully entered the Martand Sun Temple, which is under the protection of the Archaeological Survey of India (ASI).

Martand Sun Temple

• Location and Dedication
• Hindu temple situated near Anantnag in the Kashmir Valley of Jammu and Kashmir.
• Devoted to the Sun God, with "Martand" being a Sanskrit synonym for Surya.

• *Historical Background
• Constructed by King Lalitaditya Muktapida during the 8th Century CE.
• King Lalitaditya Muktapida was the third ruler of the Karkota Dynasty.

Features of Martand Sun Temple

• Architectural Fusion
• Unique blend of local Kashmiri style with influences from Gupta, Chinese, Gandhara, Roman, and Greek architectures.

• Construction and Layout
• Built entirely from stone on a plateau.
• Spans 32,000 square feet with a large courtyard featuring 86 fluted columns.
• Main shrine strategically positioned to receive direct sunlight, especially during sunrise and sunset.

• Main Shrine (Vimana)
• Stands at around 60 feet.
• Intricate carvings depict various Hindu deities.
• Central shrine designed to capture sunlight on the installed idol.

• Additional Shrines
• 84 smaller shrines surround the main Sun Temple.
• Aligned along the complex's perimeter.

• Demolition History
• Believed to have been demolished by Sultan Sikandar Shah Miri, who ruled Kashmir from 1389 to 1413.

Source: NH

In News: Following a system audit report and subsequent compliance validation report by external auditors, the Reserve Bank of India (RBI) recently imposed restrictions on Paytm Payments Bank Ltd (PPBL).

Payments Bank Overview

• Definition
  • A payments bank, operating on a smaller scale, functions similarly to a regular bank but avoids credit risk.
  • Established based on the recommendations of the Nachiket Mor Committee.
• Objectives
  • Aimed at advancing financial inclusion by providing banking services to unbanked and underbanked areas, catering to migrant labor, low-income households, small entrepreneurs, etc.
  • Registered as a public limited company under the Companies Act 2013 and licensed under Section 22 of the Banking Regulation Act 1949.
• Regulation and Governance
  • Governed by various legislations, including the Banking Regulation Act, 1949; RBI Act, 1934; Foreign Exchange Management Act, 1999, etc.

Distinctive Features

• Differentiation
• Payments banks are distinct from universal banks.

• Scale of Operations
• Operate on a smaller scale.

• Capital Requirements
• Minimum paid-up equity capital for payments banks is Rs. 100 crores.
• Promoter's initial contribution to the payment bank's equity capital must be at least 40% for the first five years.

Permissible Activities

• Deposit Handling
  • Accept deposits up to Rs. 2,00,000, including demand deposits in the form of savings and current accounts.
• Investments
  • Invest deposits in secure government securities as Statutory Liquidity Ratio (SLR), constituting 75% of the demand deposit balance.
  • Place the remaining 25% as time deposits with other scheduled commercial banks.
• Services Offered
• Provide remittance services, mobile payments/transfers/purchases, and other banking services like ATM/debit cards, net banking, and third-party fund transfers.
• Can act as a banking correspondent (BC) for another bank for credit and services it cannot offer.

Restrictions on Activities

• Loan Issuance
  • Cannot issue loans and credit cards.
• Deposit Restrictions
  • Cannot accept time deposits or NRI deposits.
• Non-Banking Activities
• Prohibited from establishing subsidiaries for non-banking financial activities.

Source: LM

In News: The U.S. government has recently taken action to dismantle a significant hacking group known as "Volt Typhoon," backed by China. 

About Volt Typhoon

• Origin and Activity
  • Volt Typhoon is a state-sponsored hacking group believed to be based in China, exhibiting active cyber operations since at least 2021.
  • The group primarily engages in espionage and information gathering activities.
• Targets
  • Volt Typhoon has shown a specific interest in critical infrastructure organizations within the United States, with a focus on locations such as Guam.
• Stealth Emphasis
  • The threat actor places a strong emphasis on stealth throughout its operations.
  • Living-off-the-land techniques and hands-on-keyboard activity are central to Volt Typhoon's modus operandi.
• Initial Access Strategy
  • The group typically gains initial access through the exploitation of public-facing devices or services.
• Tool Usage
  • Volt Typhoon utilizes a relatively uncommon practice of relying on preinstalled utilities for the majority of their interactions with victims.
• Compromised Devices
  • Small office/home office (SOHO) devices are compromised and used as proxies for communication with affected networks.
• Attack Pattern
  • The attack pattern of Volt Typhoon involves a sequence of actions, starting with collecting data, including credentials from both local and network systems.
• Data Staging
  • Stolen data is then organized into an archive file, staging it for subsequent exfiltration.
• Persistence
  • The threat actor employs stolen valid credentials to maintain persistence within the compromised networks.
• Traffic Concealment
  • Volt Typhoon operates discreetly by routing its traffic through compromised network equipment, such as home routers.
  • The group takes care to thoroughly remove evidence of intrusions from victim logs, making detection challenging.
• Detection Challenges
  • The combination of tactics, including the use of preinstalled utilities and routing through hacked network equipment, makes distinguishing between legitimate activities and attacker actions especially difficult for defenders.

Source: CNBC

In News: As a component of the Ek Bharat Shreshtha Bharat (EBSB) initiative, students engaged in a firsthand experience of sustainable living during the Auroville Exposure Tour.

About Auroville

• Auroville's Universal Township
  • Auroville is a developing universal township intended to accommodate a population of up to 50,000 individuals from diverse backgrounds worldwide.
• Geographical Location
  • Situated in the Viluppuram district of Tamil Nadu, Auroville extends into some parts of Puducherry.
• Founding and Vision
  • Founded in 1968 by Mirra Alfassa, Auroville aims to actualize Sri Aurobindo's vision for innovative forms of both individual and collective life.
• UNESCO Endorsement
  • Officially endorsed by UNESCO in 1966, Auroville is recognized for its commitment to sustainable living and its dedication to addressing future cultural, environmental, social, and spiritual needs of humanity.

Source: PIB

In News: Despite uncertainties on the global front, India stands out as the fastest-growing major economy, demonstrating stability in key economic indicators such as the current account deficit, currency, and inflation.

Current Status of India’s Growth Trajectory

• Government's Investment Strategy
• Investment has surpassed GDP growth, reaching 34.9% this year.
• There is a call for the government to moderate budgetary support to capital spending for achieving the targeted fiscal deficit of 4.5% of GDP by 2025-26.

• Fiscal Consolidation in Election Year
• Achieving fiscal consolidation in an election year is crucial.
• The Ministry of Finance expects close to 7% growth next fiscal, envisioning India becoming a $7 trillion economy by the end of the decade.

• Healthy Medium-Term Forecasts
• Multilateral agencies forecast moderate GDP growth of 6.4% next fiscal.
• Slower global growth and tighter financial conditions globally and domestically contribute to this moderation.

• Inflationary Concerns
• Core inflation in India has corrected quickly to 3.8%, and fuel inflation is at -1%.
• High food inflation, linked to the underperformance of agriculture and the rural economy, remains a concern.

• Climate Change and Economic Impacts
• 2023 marked the highest annual temperature, emphasizing escalating climate risk.
• The Ministry of Finance stresses the need for research, development, and measures to adapt to climate change without compromising economic growth.

• Monsoon
• Overall rainfall was 6% below expectations during the monsoon season.
• The SBI Monsoon Impact Index indicates improved agricultural productivity.

• Continuous Thrust on Capital Expenditure
• Capital expenditure during the first five months of 2023 was robust.
• New company registrations increased, reflecting strong growth intentions.

• Reclassified India's Exchange Rate Regime
• The IMF classifies India's exchange rate regime as a "stabilized arrangement," indicating a shift in perception.
• This classification contrasts a fixed exchange rate with a floating system.

• Declining Current Account Deficit (CAD)
• India’s CAD declined to 1% of GDP in the second quarter of 2023.
• The CAD decrease is attributed to improved numbers according to RBI data.

Major Challenges for the Indian Economy in 2024

• Global Economic Integration
• Rising geopolitical events pose a threat to India's growth.
• Geoeconomic fragmentation and a slowdown in hyper-globalization impact global trade.

• Energy Security vs Transition
• A complex trade-off exists between energy security and the ongoing energy transition.
• Policy actions for energy goals can have spillover effects on other economies.

• Artificial Intelligence (AI) Challenges
• The rise of AI poses challenges, especially in the services sector.
• The benefits of complementarity and risks of displacement are highlighted.

• Rising Inflation
• The impact of rising inflation on the broader economy is a major challenge.
• Inflation affects growth by changing labor supply and demand.

• Requirement of Skilled Workforce
• Ensuring a talented and appropriately skilled workforce is a policy priority.
• Despite an increase in employable percentages, more needs to be done.

• Geopolitical Tensions
• Geopolitical tensions, including events in the Red Sea, impact exports.
• Estimates suggest lower exports due to the crisis in the Red Sea.

Reforms Required for Robust Economic Growth in 2024

• Moving Towards Fiscal Consolidation
• Government debt to GDP ratio and interest payments necessitate fiscal consolidation.
• Robust direct tax collections and higher dividend transfers are crucial.

• Continuing Focus on Capital Expenditure (Capex)

• Capex's strong multiplier effect on growth demands continued focus.
• Government capex to GDP ratio is expected to increase in 2023-24.

• Need to Spur Consumption
• Consumption growth needs a boost, especially in the lower-income category.
• Measures to spur consumption demand are essential for economic revival.

• Increased Spending on Human Capital
• Investment in health, education, and skilling is crucial for the demographic dividend.
• Higher expenditure on human capital is needed for meaningful employment.

• Focus on Agriculture and the Rural Sector
• Improving productivity in the agriculture sector is vital for rural incomes.
• Adoption of technology and rural infrastructure development are essential.

• Focus on Contemporary Issues
• Enabling a business-friendly environment, addressing environmental concerns, and uplifting marginalized sections require focus.
• Emphasis on equitable, sustainable, and green growth is crucial.

Conclusion

• The first advance GDP estimates project robust growth in the Indian economy, exceeding earlier predictions. 
• Government fiscal policies transitioning from pandemic-focused welfare to public investment have enhanced economic capacity. 
• However, challenges such as managing food inflation, adapting to climate change, and maintaining macroeconomic fundamentals need attention for sustained growth. 
• Policymakers face a challenging yet imperative task in steering the economy toward stability and prosperity.

Source: IE

The Bahraich Aspirational District has innovatively enhanced primary education by engaging individuals from various fields to interact with over 400 Government Primary Schools' children.

• A diverse group, including intellectuals, government officials, retired employees, teachers, educated housewives, and youngsters, actively participates in this weekly campaign, spending at least an hour with the kids.
• The initiative has yielded highly positive results, with volunteers dedicating their time to teach the children.
• This platform for young minds to interact with intellectuals not only facilitates academic learning but also imparts valuable values and ethics from an early age.