In news

The new right-wing government that is about to form in Sweden, seems to threaten the Nordic Model of Social Democracy.

About the News:

• Sweden’s right-wing coalition led byModerate Party has defeated the centre-left bloc coalition led by Social Democrats Party, which notwithstanding remained the single largest party.
• The Nordic countries are a blanket term for Sweden, Norway, Finland, Denmark, and Iceland.

About Nordic Model

• The combination of the economic and social welfare systems that the Nordic countries have embraced is referred to as the Nordic model or the Scandinavian model (Sweden, Norway, Finland, Denmark, and Iceland).
• It mixes aspects of capitalism, such as a market economy, with social advantages, like state pensions and income distribution.
• With a strong public sector and redistributive taxation, this mixed economic system preserves the advantages of capitalism while reducing the gap between the rich and the poor.

• The culture's defining characteristic, gender equality, leads to high levels of parental involvement among both men and women, as well as high levels of participation by women in the workforce.

Associated Advantages

• Social mobility and equality are products of the Nordic model.
• Everyone enjoys free access to respectable public services, such as some of the greatest healthcare and education in the world, and people are content to pay taxes to maintain this situation.
• These group advantages are combined with entrepreneurship to produce a successful fusion of capitalism and socialism (Cuddly Capitalism).

Associated Disadvantages

• The model is criticized because it has high taxes, extensive government involvement, and relatively low GDP and productivity, all of which constrain economic growth.
• The Nordic model redistributes wealth, restricts the amount of money available for individual consumption and expenditure, and promotes reliance on publicly funded initiatives.

Challenges

Ageing Population

• The optimum situation for an ageing population is one with a big base of young taxpayers and a limited number of senior inhabitants who need services. Benefit cuts are a foreseeable result as the demographic balance moves the opposite way.

Surge of Immigrants

• In terms of immigration, these nations draw a sizable influx of immigrants who want to take advantage of the rich public benefits. These recent immigrants frequently hail from countries with short histories of collective decision-making for the benefit of all.
• The system can become significantly burdened by newcomers, which could ultimately lead to its extinction.

Way Ahead

• The Nordic countries' comparatively smaller and more homogeneous populations, which enable targeted government, have been a major factor in the social democratic model's success there.
• These nations' relatively smooth transitions from agrarian to industrial to post-industrial (in some cases) to knowledge/service economies can be attributed to the "corporatist" model, which involves the interests of both capital and labour and is mediated by the government on many levels.
• Thus, despite the various intricacies of differences, disparate internal development, and histories, the Nordic model of social democracy offers lessons to the emerging globe, including nations like India.

Content Source Link:

• https://www.thehindu.com/news/international/scandinavian-social-democracy/article65911063.ece/amp/
• https://www.eurotopics.net/en/288207/election-result-sweden-shifts-to-the-right

Image Source Link:

• https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.scandinaviastandard.com%2Fwhere-is-scandinavia-a-guide-to-the-scandinavian-countries%2F&psig=AOvVaw036XhMiwzckLPGPvKZkvnx&ust=1663818983519000&source=images&cd=vfe&ved=0CA0QjhxqFwoTCLi5j-_-pPoCFQAAAAAdAAAAABAI

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In News

• The National Logistics Policy (NLP) was recently launched by the Prime Minister at the Vigyan Bhawan in New Delhi.
• Objective: To support seamless product flow and increase industry competitiveness.
• Process re-engineering, digitization, and multi-modal transportation are among the topics that are anticipated to receive the most attention.

About National Logistics Policy, 2022

• The policy puts a lot of emphasis on crucial topics including process re-engineering, digitization, and multi-modal transportation.
• It is a key decision since excessive logistical costs affect domestic products' competitiveness on the global market.
• A national logistics policy was deemed necessary because India has higher logistics costs than other industrialized nations.

Target

• By 2030, the cost of logistics must be lowered to half from its current level of 14–18% of GDP to the level recommended by international best practices, which is 8%.

• • The logistics cost-to-GDP ratio is very low in countries like the US, South Korea, Singapore, and several European countries.
  • It currently accounts for 16% of GDP.
• Making data-driven Decision Support Systems (DSS) to facilitate a productive logistics environment.
• The goal of the program is to minimize logistical problems, increase exports greatly, and significantly benefit small businesses and the people who work in them.

Key Pillars of NLP, 2022

• Integration of Digital System (IDS)
  • It will result in a smoother and quicker workflow, greatly improving logistical efficiency.
• Unified Logistics Interface Platform (ULIP)
  • It aspires to consolidate all digital services related to logistics and transportation into a single interface, liberating exporters and manufacturers from the current tyranny of drawn-out and onerous procedures.
  • NICDC’s (National Industrial Corridor Development Corporation) Logistics Data Bank Project has been leveraged to develop ULIP.
• Ease of Logistics (ELOG)
  • With the help of the new digital platform E-Logs, businesses can raise operational issues with the government directly for a quick resolution.
• System Improvement Group (SIG)
  • Maintaining constant oversight of all logistics-related projects and removing any barriers

Significance of the Policy

• The National Logistics Policy's introduction will give PM Gati Shakti a further push and complementarity.
• As it covers all aspects of the sector, streamlines regulations, and addresses supply-side restrictions, the Policy will aid in creating a countrywide logistics ecosystem that is integrated, affordable, resilient, and sustainable.
• The policy aims to create employment possibilities, boost economic growth, and make Indian products more competitive.

Similar Government Initiatives

• Creation of Logistics Division in Commerce Department
• Multimodal Transportation of Goods Act, 1993
• PM GATI Shakti Scheme
• Bharatmala Project
• Sagarmala Project
• Dedicated Freight Corridor

Content Source Link:

• https://indianexpress.com/article/explained/explained-economics/national-logistics-policy-pm-modi-explained-8162784/
• https://pib.gov.in/PressReleasePage.aspx?PRID=1859893

Image Source Link:

• https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.latestly.com%2Fsocially%2Findia%2Fnews%2Fpm-narendramodi-launched-the-national-logistics-policy-on-17-september-2022-the-latest-tweet-by-prasar-bharati-news-services-4218098.html&psig=AOvVaw1acQbcF_7P-eod_z6A-9PO&ust=1663823092136000&source=images&cd=vfe&ved=0CA4QjhxqFwoTCMi4y5iOpfoCFQAAAAAdAAAAABAD

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In News:

The Ministry of Textiles has recently cleared 23 strategic research projects worth around Rs 60 crores in Specialty fibres, Sustainable Textiles, Geotextiles, Mobiltech and Sports textiles under the National Technical Textiles Mission.

About the News:

• The penetration level for technical textiles in India varies from 5% to 10% compared to the high level of 30-40% in developed countries.
• To enhance the usage of these textiles previously, the Cabinet Committee on Economic Affairs (CCEA) established a National Technical Textiles Mission in 2020, with a budget of ₹1480 crore.
• The present yearly value of technical textiles is ₹14,000 crores which the mission aims to improve to ₹20,000 crores by 2021-22.
• The approved strategic research projects as part of 'The National Technical Textiles Mission (NTTM) are seen as an attempt by the government to position India in technical textiles as a global leader.

Major highlights:

• Target areas: Out of 23 Research projects, 12 are projects of speciality, and 4 are from Sustainable Textiles besides projects from Geotextile, Mobiltech and Sportech.
• Impact: It will help in promoting export as fibres having application areas in Agriculture, Smart Textiles, Healthcare, Strategic Application and Protective gears etc.,
• Formulation Process: Inputs pertaining to technical textile will be in consultation with members of NITI Aayog (Science & Tech) & Principle Scientific Advisor (PSA) besides roping in leading Indian Institutes including IITs, Government Organizations, and Eminent Industrialists.
• Importance: Building convergence with academicians, scientists and researchers will help industry and academia connect essential for the growth of research and development in the application areas of Technical Textiles in India.
• Challenges: The textile sector is presently facing several constraints including technological gap, identification of key area of research, poor industry interaction and promotional

Source:

• https://www.business-standard.com/article/economy-policy/national-technical-textiles-mission-centre-clears-23-strategic-projects-122091700078_1.html
• http://nttm.texmin.gov.in/PI/AboutMission

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• Context: The Union Minister of Science and Technology will be taking part in GCEAF at Pittsburg, US.
• GCEAF is a first-of-its-kind meeting where 30 countries will participate.

• GCEAF is a joint convening of the 13th Clean Energy Ministerial (CEM13) and 7th Mission Innovation Ministerial (MI-7) hosted by the US Department of Energy and Carnegie Mellon University.
• CEM is a high-level global forum to promote policies and programmes that advance clean energy technology.
• It brings together a community of the world's largest and leading countries, companies and international experts to achieve one mission –accelerate clean energy transitions.
• Mission Innovation (MI) is a global initiative of 22 countries and the European Commission (on behalf of the European Union) to accelerate global clean energy innovation.
• These 23 members have committed to seeking to double public investment in clean energy innovation (R&D) and are engaging with the private sector, fostering international collaboration and celebrating innovators.
• It invests in research, and development and demonstrates to make clean energy affordable, attractive and accessible for all.

Source:

• https://www.livemint.com/news/india/minister-jitendra-singh-to-take-part-in-global-clean-energy-action-forum-in-us-11663578869997.html

Image source:

• https://www.linkedin.com/in/gceaf-usa?original_referer=https%3A%2F%2Fwww.google.com%2F

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• Context: The Directorate of Revenue Intelligence (DRI) recently recovered 10.23 MT of red sanders (red sandalwood), estimated at Rs 6 crore in the international market, from an export consignment that was destined for Singapore.
• Red Sanders or Red Sandalwood (Pterocarpus santalinus) is an Indian endemic tree species, with a restricted geographical range in the Eastern Ghats.

• It is a small tree that grows to 5-8 meters in height and has dark greyish bark.
• The species is endemic to a distinct tract of forests in Andhra Pradeshthat covers the districts of Chittoor, Kadapa, Nandhayal, Nellore and Prakasam.
• It is known for its rich hue and therapeutic propertiesthroughout Asia, particularly in China and Japan, where it finds application in cosmetics, and medicinal products, for making furniture, woodcraft and musical instruments.
• The timber is also exploited for the extraction of santalin (a red pigment used as dye and colourant in food),
• However, there has been a significant decline of about 50-80% of its population in its natural habitatdue to over-exploitation, especially for smuggling-related activities, forest fires, cattle grazing etc.
• The Species is scheduled in appendix II of CITIESand Schedule II of Wildlife Protection Act.

Source:

• https://theprint.in/india/dri-customs-seize-10230-kg-red-sandalwood-worth-rs-6-crore-from-haryana/1135228/

Image source:

• https://timesofindia.indiatimes.com/india/this-indian-tree-prized-by-chinese-royalty-is-on-the-road-to-extinction/articleshow/88967537.cms

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• Context: The Institute for Development and Research in Banking Technology (IDRBT), an arm of the Reserve Bank of India (RBI), has developed a low-cost financial network based on LoRa which will help people in remote hilly and forest areas without satellite signals to access banking services.
• LoRa is a wireless modulation technique derived from Chirp Spread Spectrum (CSS) It encodes information on radio waves using chirp pulses - similar to the way dolphins and bats communicate.

• LoRa modulated transmission is robust against disturbances and can be received across great distances.
• LoRa technology uses dedicated radios, which are not usually present in end-user devices, limiting interferences from other devices.
• LoRa technology can be used privately by banks to send encrypted texts to conduct financial transactions.
• Banks can use this as their own dedicated private network instead of using a third-party network ensuring more security from cyber-attacks.
• The cost of the LoRa financial network is estimated to be 20 per cent cheaper than alternative network technologies with an additional advantage of almost no maintenance and portability of devices.

Source:

• https://www.thehindubusinessline.com/money-and-banking/in-a-first-idrbt-develops-new-low-cost-financial-network-to-take-banking-to-remote-areas/article65909637.ece

IMAGE SOURCE:

• https://www.volersystems.com/blog/iot/lorawan

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• Context: The Securities and Exchange Board of India (SEBI) is mooting a stricter framework for identifying “beneficial owners (BOs)” of foreign portfolio investment (FPI) in the country.
• Foreign portfolio investment (FPI) is a common way to invest in overseas economies. It includes securities and financial assets held by investors in another country.
• It also includes bonds or other debt issued by these companies or foreign governments, mutual funds, or exchange-traded funds (ETFs) that invest in assets abroad or overseas.
• FPI is part of a country’s capital account and is shown on its balance of payments (BOP). BOP calculates the amount of money flowing from one country to another country over a financial year.
• FPI is relatively liquid depending on market volatility, ensuring that the investor is empowered and can move fast when there are good opportunities.

• Benefits of FPI:
  • Foreign portfolio investments boost demand for the stock of companies.
  • From the investor’s perspective, it adds more diversity to their investments thus, hedging their risk.
  • Investors can also gain benefits from exchange rate changes.
  • Overseas markets provide investors with a bigger market that may also sometimes not be as competitive as their home market.
• Disadvantages of FPI:
  • In the country receiving FPI, the unpredictability of such investments would mean a constant shift between markets over short periods giving rise to some amount of volatility.
  • A sudden withdrawal of FPI could make an impact on the exchange rate.
  • FPI may be risky on certain occasions, i.e., when there is political instability in a country

Source:

• https://www.business-standard.com/article/markets/sebi-moots-stricter-framework-for-identifying-fpi-beneficial-owners-122091901030_1.html

Image source:

• https://corporatefinanceinstitute.com/resources/knowledge/trading-investing/foreign-portfolio-investment-fpi/

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Essence – The editorial discusses India’s foreign policy in light of evolving geo-political situation. It highlights the changing approach of non-alignment from its past version to new multiple engagements of the future. To support this it presents the case of SCO, QUAD and engagement with Iran. It also highlights the influence of twisted relations with China and warns of the growing closeness between Russia and China.

Towards the end, it discusses nuclear diplomacy where it highlighting the danger of the China-Pakistan nexus both of which are pushing for strengthening their nuclear arsenal. In the end, it recommends adopting a forward-looking and visionary foreign policy.

Why should you read this editorial?

• To know what ought to be the foreign policy approach for evolving geo-political situation.
• To know what factors have the bearing on India’s foreign policy.

Source:

• https://www.thehindu.com/opinion/lead/positioning-india-in-a-chaotic-world/article65914970.ece

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Essence – The editorial ponders upon the different avenues especially EVs in bringing down the emission due to the transport sector. It acknowledges the importance of EVs for bringing down emission as it does not have any tailpipe emission, but at the same time, it also highlights the dependence of charging infrastructure on coal-fired power plants. It mentions that there is a huge variation in the degree of dependence on Coal as an energy source across the region. It highlights the unique condition of Indian road transport where 2-wheelers and 4-wheeler have the same cumulative emission.

It recommends a mosaic approach for electrification of road transport where it promotes gasoline-electric hybrids for four-wheel cars and full electrification for 2-wheeler as they can reduce emissions more efficiently. Apart from that it also recommends investing in charging & Battery recycling infrastructure, Reducing dependence on coal and significant behavioural changes among the public.

Why should you read this editorial?

• To know about the importance of Road electrification in reducing emissions.
• To know the other needs apart from electrification to get the emission target.

Source:

• https://www.thehindubusinessline.com/opinion/green-transport-keep-all-options-on-the-table/article65907167.ece

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Background

The coastal town of Anchuthengu, Kerala was home to what is considered the first open and organised revolt against the unjust practices of the East India Company and British Raj — the Attingal Revolt in the year 1721.

About the revolt

• The British came to Attingal in 1680, hoping to make the most of an abundance of spices, especially pepper, in the region.
• They wanted to construct inroads in the state and take control over the trade of spices, to gain an edge over the Dutch and Portuguese.
• Consequently, in 1694, the Rani of Attingal granted permission for the fort to be built.
• The British then annihilated agriculture in the region, leading to a drastic loss of livelihood for the common man.
• Also, they mocked the religious and cultural beliefs and practices prevalent among the locals
• This angered the natives to such an extent that both Hindus and Muslims came together under Kudaman Pillai (Feudal Lord of the Pillai Dynasty) to take part in an uprising that later came to be known as the Attingal Revolt.
• Sensing that they needed to change the strategy, the British decided to send an officer named William Gyfford to the Rani.
• Gyfford and his men set sail to Attingal, and met new Rani to offer gifts, but eventually ended up getting slayed by the protestors who entered the palace in the night.
• The British tried to underplay the incident as it would affect their international standing.
• However, a mural stands as an attempt to remind people of the ferocity of the first revolt against the British and to not have its legacy erased in time, along National Highway 66 in Thiruvananthapuram.

Source:

• Attingal: Common Man’s First Open Revolt Against British Raj Remains Forgotten 

Image source:

• Attingal: Common Man’s First Open Revolt Against British Raj Remains Forgotten

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