Why in News?

• According to the Deputy Governor of, the RBI, If India is to become an economic superpower, internationalisation of rupeeis must and unavoidable risks are to be taken up.

What is Internationalisation of rupee?

• Internationalisation of the rupee is a process that involves increasing the use of the local currency in cross-border transactions.
• It involves promoting the rupee for import and export trade and then other current account transactions followed by its use in capital account transactions.
• It also refers to adopting full capital account convertibility (freedom to convert local financial assets into foreign financial assets and vice versa).
• Presently, India allows full current account convertibility.

Benefits of Internationalisation of Rupee

• It implicitly harmonizes monetary, fiscal, and economic policies.
• The adoption of the rupee would stabilize trade and help Indian businesses limit their exposure to foreign exchange risk. Trade in rupees results in less reliance on the dollar and other foreign currencies.
• Reduced Vulnerability to External Shocks.
• It will increase employment in the non-farm sector by bringing about more linkages and financial market liquidity.
• It will make it simple to acquire funds and cut borrowing costs, for Indian businesses, in turn, adding weight to the Indian economy and enhancing India’s global stature and respect.
• It will help the Indian economy become more integrated with the rest of the world in terms of global capital flows and commerce.
• Mitigates Currency Volatility risks for Indian businesses with increased bargaining power.
• Lower transaction costs of cross-border trade and investment.

Constraints

• Full convertibility might result in increased volatility, a greater burden on foreign debt, and a change in the trade balance (especially exports).
• Makes Domestic Monetary Policy more challenging. It involves non-residents holding Rupee balances in India to acquire Indian assets. Such assets could heighten vulnerability to external shocks.
• The greatest potential risk of the internationalization of the Indian rupee could potentially come from non-residents withdrawing their short-term investments and portfolios.
• Internationalisation would make domestic monetary policy more challenging.

Content Source Link:

• https://indianexpress.com/article/business/banking-and-finance/internationalisation-of-rupee-has-risks-but-they-are-unavoidable-rbi-deputy-governor-8224133/lite/
• https://www.timesnownews.com/business-economy/economy/internationalisation-of-rupee-would-reduce-dependence-on-foreign-currency-rbi-deputy-governor-article-95022377

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In News:

• India held defense dialogue with Africa on the sidelines of DefExpo 2022

About the News:

• The Ministry of Defense has recently held India-Africa Defence Dialogue (IADD) on the sidelines of DefExpo 2022 in Gandhinagar, Gujarat.
• The dialogue successfully brought out various aspects of the IADD’s theme ‘Adopting Strategy for Synergizing and Strengthening Defence and Security Cooperation’.
• The dialogue is seen as an underlying commitment of India and African countries to explore new areas of convergence for defence engagements, including capacity building, training, cyber security, maritime security and counter terrorism.
• The synergy between India & African countries is important to ensure a safe and secure maritime environment, especially in the Indian Ocean Region.

Major highlights of the bill:

• Regional mechanism: India will work with African countries in many local mechanisms to foster inclusive and constructive collaboration in dealing with shared security concerns and address common challenges to peace and prosperity.

• Evolving challenges: Promotion of multi-faceted defence and security cooperation relationship in order to deal with challenges of conflict, terrorism and violent extremism.
• Africa a priority: India to intensify and deepen its engagements with Africa in their quest for peace, security, stability, growth and prosperity.
• Multi-facet relation: Indo-African ties to further engage in economic, diplomatic and defence domains based on the cooperative framework of ‘SAGAR’ (Security and Growth for All in the Region), drawn upon the ancient ethos of ‘Vasudhaiva Kutumbakam’ (The World is One Family).
• Advantage India: Robust public and private defence industry of India has the advantage of abundant technical manpower to fulfil African defence requirements.

Other opportunities In India-Africa Relations:

• Addressing Food security: Agriculture and food security can also be a fulcrum for deepening ties.
  • Africa has a major chunk of the world’s arable land but produces a very small percentage of the global agri-output.
  • India has proven expertise in the agriculture sector, being the top producer of much agricultural produce.
• Becoming Voice of Developing World: Just as India and Africa fought colonialism together, both can now collaborate together for a just, representative and democratic global order that has a voice for around one-third of humanity that lives in Africa and India.
• Combating Neo-Colonialism: China has been actively pursuing Chequebook and donation diplomacy in Africa.
  • Chinese investment is seen as neo-colonial in nature as it focuses on money, political influence, hard-infrastructure projects and resource extraction.
  • India’s approach, on the other hand, is one that focuses on building local capacities and an equal partnership with Africans.
• Enabling Strategic Convergence: Under the recent Quad Plus initiative whereby the countries (US, India, Japan and Australia have recently engaged other countries such as South Korea, Vietnam, New Zealand, Israel and Brazil) exchanged views and proposed cooperation with select African countries about the Indian Ocean.
  • Both India and Japan share a common interest in forging a partnership for Africa’s development through the Asia-Africa Growth corridor.
  • India can leverage its global status to establish Africa on the strategic map of global politics.

Source:

• https://pib.gov.in/PressReleasePage.aspx?PRID=1869035#:~:text=As%20a%20part%20of%20DefExpo,African%20nations%20on%20this%20day

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In News:

• Government unveils a draft of the National Credit Framework for public input.

About the News:

• The Union ministry of education has recently launched the draft of the first ‘National Credit Framework’ (NCrF) that integrates the credits earned through school education, higher education and vocational and skill education.
• It is an umbrella framework for skilling, re-skilling, up-skilling, accreditation & evaluation encompassing our people in educational & skilling institutions and the workforce.
• NCrF is a multidimensional instrument under National Education Policy (NEP), 2020 which will enable the integration of academic and vocational domains to ensure flexibility and mobility between the two.

• • NEP 2020 has recommended the development of NCrF in four arease., school education, early childhood care and education (ECCE), teacher education, and adult education.
• The framework aims to formulate a unified credit accumulation and transfer for general and vocational education and from school to higher education.
• This credit will be stored in the Academic Bank of Credit (ABC) which may be redeemed for admission to educational institutes.
• NCrF would be a game changer as it will also enable students who have dropped out of mainstream education to re-enter the education ecosystem.
• In an attempt to be a $5 trillion economy, India needs to empower 100% of its population and in this direction, National Credit Framework will be the most important instrument under NEP for realising these goals.

Significance of NCrF

1. For Students- It will ensure flexibility in the duration of study/ courses through provisions of multiple entries and exit/work options.
2. For Institutions-It will bring about a unification of higher education institutions to promote multidisciplinary education.
3. For Industry- Enable re-skilling and up-skilling of existing employees. It will allow students to attain National Skills Qualification Framework (NSQF)-approved foundational skills developed by industry, thus increasing their employability.

Source:

• https://www.hindustantimes.com/india-news/govt-launches-national-credit-framework-seeks-public-feedback-101666202690209.html

Original draft:

• https://www.education.gov.in/sites/upload_files/mhrd/files/National_Credit_Framework.pdf

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In News?

• The United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OHPI) recently released the Global Multidimensional Poverty Index (MPI) 2022.

Key Highlights

Global Indicators

• Multidimensional poverty affects 1.2 billion individuals.
• A total of 593 million children under the age of 18 live in poverty.
• Sub-Saharan Africa has the most poor people (579 million), followed by South Asia (385 million). Together, the two regions are home to 83% of the impoverished.

Indian Scenario

• With 22.8 crores, India has the most poor people in the world, followed by 9.6 crore in Nigeria.
• Two-thirds of these people reside in a home where at least one member is malnourished.
• In contrast to the 8.1% drop from 2005/2006 to 2015/2016, the relative reduction from 2015/2016 to 2019/21 was faster at 11.9% each year.

Data related to Poverty

• Poverty rate decreased from 55.1% in 2005/06 to 16.4% in 2019/21.
• 5 crore people were able to escape poverty between 2005–2006 and 2019–21.
• The reduction in poverty in South Asia has been largely attributed to improvements in India's MPI.
• South Asia has more poor people than Sub-Saharan Africa.
• India continues to have the most disadvantaged children in the world, where one in five children live in poverty compared to about one in seven adults.
• In rural areas, the prevalence of poverty decreased from 36.6% in 2015–2016 to 21.2% in 2019–2021, and in urban areas, it decreased from 9.0% to 5.5%.

Content Source Link:

• https://theprint.in/economy/after-world-bank-undp-says-41-5-cr-indians-were-lifted-from-poverty-but-it-was-all-before-covid/1172528/
• https://www.thehindubusinessline.com/economy/over-41-crore-indians-came-out-of-multidimensional-poverty-in-15-years-undp-report/article66021774.ece

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• Context: The Prime Minister inaugurated the PM Kisan Samman Sammelan 2022 at Indian Agricultural Research Institute in New Delhi.
• PM KISAN is a Central Sector Scheme implemented by the Ministry of Agriculture and Farmers Welfare.
• It was launched in 2018 to supplement the financial needs of land-holding farmers.
• Under the scheme, the financial benefit of Rs 6000/- per year in three equal instalments,every four months is transferred into the bank accounts of farmers’ families across the country through DBT mode. 
• The scheme was initially meant forSmall and Marginal Farmers (SMFs) having landholding up to 2 hectares but was extended to cover all landholding farmers.
• The Objectives of the scheme include:

• 1. To supplement the financial needs of the Small and Marginal Farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income at the end of each crop cycle.
  2. To protect them from falling into the clutches of moneylenders for meeting such expenses and ensure their continuance in farming activities.
• PM-KISAN Mobile App:It was developed and designed by the National Informatics Centre in collaboration with the Ministry of Electronics and Information Technology.

Source:

• https://pib.gov.in/PressReleasePage.aspx?PRID=1868005#:~:text=Under%20the%20scheme%2C%20eligible%20farmer,Agri%20Startup%20Conclave%20and%20Exhibition.

Image source:

• https://coreldrawdesign.com/vector-download.php?id=2937

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• Context: A new One Health Joint Plan of Action was launched by the Quadripartite- the FAO, UNEP, WHO and the WOAH.
• One Health is an approach that recognizes that the health of people is closely connected to the health of animalsand our shared environment.

• One Health’s vision derives its blueprint from the agreement between the tripartite-plus alliance comprising the Food and Agriculture Organization of the United Nations, and the World Organization for Animal Health (OIE).
• Its purpose is to encourage collaborations in research and sharing of knowledgeat multiple levels across various disciplines like human health, animal health, plants, soil, environmental and ecosystem health in ways that improve, protect and defend the health of all species.
• The Action plan developed through a participatory process provided a set of activities that aim to strengthen collaboration, communication, capacity building and coordinationequally across all sectors responsible for addressing health concerns at the human-animal-plant-environment interface.
• The plan is valid from 2022-2026 and is aimed at mitigating health challenges at global, regional, and country levels.
• Focus Areas of the Action Plan:
  • One Health capacity for health systems
  • Emerging and re-emerging zoonotic epidemics
  • Endemic zoonotic
  • Neglected tropical and vector-borne diseases
  • Antimicrobial resistanceand the environment
  • Food safety risks

Source:

• https://www.downtoearth.org.in/news/environment/big-push-for-one-health-fao-unep-who-animal-health-body-lay-out-plan-85511

Image source:

• https://www.downtoearth.org.in/news/environment/big-push-for-one-health-fao-unep-who-animal-health-body-lay-out-plan-85511

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• Context: The Ministry of Law and Justice has told the Supreme Court that the court cannot direct Parliament to frame any law and it sought the dismissal of PILs seeking a Uniform Civil Code (UCC) in the country.
• UCC is envisaged to provide for one law for the entire country, applicable to all religious communities in their personal matters such as marriage, divorce, inheritance, adoption etc.
• Article 44 (one of DPSP)of the Constitution lays down that the state shall endeavour to secure a UCC for the citizens throughout the territory of India.

• The origin of the UCC dates back to colonial India when the British government submitted its report in 1835stressing the need for uniformity in the codification of Indian law relating to crimes, evidence, and contracts, specifically recommending that personal laws of Hindus and Muslims be kept outside such codification.
• Later, the B N Rau Committee to codify Hindu law was established in 1941, based on whose recommendations, a bill was then adopted in 1956 as the Hindu Succession Act.
• The prominent judgements that suggested the government to move towards a UCC include Shah Bano Case 1985, Sarla Mudgal Case (1995) etc.
• Indian laws follow a uniform code in most civil matters such as Civil Procedure Code,Transfer of Property Act 1882, Evidence Act, 1872 etc.
• Goa is the only state in India with a UCC.

Source:

• https://www.thehindu.com/news/national/centre-files-affidavit-on-uniform-civil-code-in-sc-says-different-religions-following-different-laws-affronting-national-unity/article66026485.ece

Image source:

• https://www.thehindu.com/news/national/centre-files-affidavit-on-uniform-civil-code-in-sc-says-different-religions-following-different-laws-affronting-national-unity/article66026485.ece

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• Context: The Prime Minister recently reviewed the construction of the National Maritime Heritage Complex (NMHC) siteat Gujarat’s Lothal.
• The NMHC project began in early 2022, to act as a centre for learning and understanding India’s maritime history.

• It will have several innovative features such as Lothal mini-recreation, which will recreate Harappan architecture and lifestylethrough immersive technology.
• It has four theme parks – Memorial theme park, Maritime and Navy theme park, Climate theme park, and Adventure and Amusement theme park.
• The NMHC is being developed with the aim of displaying India’s diverse maritime heritage and also helping Lothal emerge as a world-class international tourist

Source:

• https://indianexpress.com/article/explained/explained-culture/heritage-complex-coming-up-at-lothal-why-this-indus-valley-civilisation-port-town-is-important-8218667/

Image source:

• https://timesofindia.indiatimes.com/city/ahmedabad/lothal-maritime-museum-project-takes-first-steps/articleshow/79396554.cms

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The rise in non-communicable diseases will cost the global economy $27 billion annually: WHO

By Preetha Banerjee,

In News: Global status report on physical activity is WHO’s first dedicated global assessment of global progress on the country’s implementation of policy recommendations of the Global Action Plan on Physical Activity (GAPPA) 2018-2030.

Findings of the report

• Poor physical activity standards: According to the report 80 per cent of adolescents and 27 per cent of adults do not meet the physical activity standards set by the World Health Organization (WHO).
• The increasing burden of non-communicable diseases:Due to poor physical standards 500 million additional people developing non-communicable diseases from 2020-2030 and costing the global economy $27 billion annually, it added.

Impacts of physical Inactivity on health and Economy

• Sedentary lifestyle: Large share of the global population has been linked to the rising prevalence of heart diseases, obesity, diabetes or other non-communicable diseases.
• Hypertension and depression: Of the 500 million new cases projected, nearly half will be attributed to hypertension and 43 per cent to depression, the authors of the report said.

• The strain on the health systems:The report quantified the economic burden of not being able to meet the GAPPA target. The sharp rise in non-communicable diseases will also put a strain on the health systems in every country.
• The increasing cost of treatment:  World will incur treatment costs of just over $300 billion by 2030 If the current prevalence of physical inactivity doesn’t change.
• 70 per cent of healthcare expenditure: This will account for 70 per cent of healthcare expenditure on treating illnesses resulting from physical inactivity in high-income countries.
• Around 75 per cent of the cases will occur in low- and middle-income countries.

Government efforts to address the physical inactivity menace:

• National physical activity policy:Analysis of 194 countries shows that less than half the countries in the world have any national physical activity policy.
• Active National policies:Less than 40 per cent of the existing national policies are in operation.
• Monitor physical activity among adolescents:As many as 75 per cent of countries monitor physical activity among adolescents, and less than 30 per cent monitor physical activity in children under 5 years.
• Lack of public Infrastructure: The report highlighted that data regarding progress on certain policy actions is missing. These include the provision of public open space, the provision of walking and cycling infrastructure, and provision of sports and physical education in schools.

• National physical activity guidelines:only 30 per cent of countries have national physical activity guidelines for all age groups, according to the findings of the report.

Recommendations of World Health Organisation:

• Exercise benefits mental and physical health: Light exercise and even walking has proven benefits for mental and physical health, studies have shown.
• Infrastructural changes by governments:Citizens cannot make healthier lifestyle choices without infrastructural changes by governments such as safe walking and cycling lanes. “In policy areas that could encourage active and sustainable transport, only just over 40% of countries have road design standards that make walking and cycling safer,” the WHO analysts found.

Government of India’s efforts to promote physical activity

FIT India Movement: FIT INDIA Movement was launched in 2019 with a view to making fitness an integral part of our daily lives. The mission of the Movement is to bring about behavioural changes and move towards a more physically active lifestyle.

Physical inactivity is a silent poison, killing the future of the citizens. Work from home and remote working have increased physical inactivity among the working population. Indoor games, mobile addictions, and e-learning have reduced the physical activity of children. It’s a collective responsibility of parents, society and government to promote and encourage physical activity among citizens.

• https://www.who.int/publications/i/item/9789240059153
• https://www.downtoearth.org.in/news/health/physical-inactivity-huge-burden-on-economy-but-only-50-countries-have-dedicated-policy-85552#:~:text=If%20the%20current%20prevalence%20of,countries%2C%20according%20to%20the%20analysis

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Why in News?

A study by IISc has revealed that grazing animals hold the key to long-term soil carbon stability.

What is Soil Carbon?

• Soil carbon is the solid carbon stored in global soils.
• This includes both soil organic matter and inorganic carbon as carbonate minerals.
• It acts as a carbon sink in the global carbon cycle, playing a role in biogeochemistry, climate change mitigation, and constructing global climate models.

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Why in news?

The first 11 awardees of the Women Involvement in Science and Engineering Research (WISER) programme were recently felicitated.

About WISER

• A first-of-its-kind programme to promote women in the field of research and development through lateral entry was launched in November 2021.
• It was launched by Indo-German Science & Technology Centre (IGSTC) for encouraging women researchers in joint R&D projects.
• There is neither requirement for a break-in-career nor any age limit.
• The WISER program offers 20 awards per year.
• It aims to increase the representation of women researchers in Science, Technology, Engineering, and Mathematics (STEM).

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Why in news?

For the first time, a product from Japan has filed for a tag at the Geographical Indication Registry in Chennai.

Nihonshu

• Nihonshu / Japanese sake is an alcoholic beverage.
• For making nihonshu three main raw materials – rice, koji-kin (a type of fungal spore) and water – are required.
• People traditionally drink nihonshu on special occasions, such as festivals, weddings or funerals, but it is also consumed on a daily basis.
• The sake market (almost all are nihonshu) is the second largest brewed liquor (such as beer) market in Japan.

Geographical Indicator

• A GI is a label that is applied to products that have a specific geographical origin and have characteristics that are related to that particular location.

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Why in news?

UIDAI has topped the GRI for the second consecutive month.

About GRI

• GRI is the ranking report published by the Department of Administrative Reforms and Public Grievances (DARPG) for all government departments/ministries.
• The grievance Redressal Index has two dimensions:
  • Timely Disposal of Grievance Redressal
  • Quality Disposal of Grievance Redressal
• UIDAI has been a top performer in the resolution of cases received through the Centralized Public Grievance Redress and Monitoring System (CPGRAMS).
• UIDAI has been a catalyst for both ease of living and ease of doing business.
• UIDAI is going to launch State-of-the-art Open Source CRM solution soon.
• The new CRM solution shall have the capability to support multi-channels like Phone Call, Email, Chatbot, Web Portal, Social Media, Letter and Walk-in through which the grievances can be lodged, tracked and resolved effectively.

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Why in News? Russia is being accused of using Scorched earth tactics in the ongoing war against Ukraine.

About:

• Scorched earth tactics form part of a military strategy which seeks to destroy anything that could be of use to the enemy, including energy supplies, bridges, agricultural fields, road and railway links, etc.
• Russia has used missiles to destroy civilian infrastructure, including power and water supply lines.
• The strategy seeks to deplete the enemy’s as well as its own resources to sustain warfare, and also break their morale.
• Harming civilians as part of this strategy has been banned under the 1977 Geneva Convention. In India, Maratha's armies were known for their scorched earth tactics.

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• Why in News? Sri Lankan writer Shehan Karunatilaka won the Booker Prize 2022 for his novel “The Seven Moons of Maali Almeida”,about a dead war photographer on a mission in the afterlife.

About:

• The Booker Prize is theworld’s leading literary award for a single work of fiction.
• Founded in the UK in 1969,it was initially awarded to Commonwealth writers and now spans the globe, and it is open to anyone regardless of origin.
• Each year, the Booker Prize is awarded to what is, in the opinion of our judges, thebest-sustained work of fiction written in English and published in the UK and Ireland.
• The winning book is a work that not only speaks to our current times but also one that will endure and join the pantheon of great literature.

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Background

Wipro, an IT service firm in a toughening stand has sacked 300 employees for 'moonlighting'.

About Moonlighting

• Moonlighting is the practice of taking up secondary jobs after work hours, without informing or taking consent from the current employer.
  • The reasons Moonlighting seems attractive include:
  • Supplements income, with assignments outside work
  • Working from Home culture, providing room for dual employment
  • Absence of overtime pay and regulation of employment contracts
• Issues associated with Moonlighting
  • Violation of Contract
  • Working with rival companies impacts the competitiveness prospects.
  • Integrity Violation
  • Productivity loss of employees, from physical fatigue
  • Data and confidentiality breaches
• Legality & Moonlighting
  • There is no law that prevents dual employment
  • Moonlighting is not defined under any statute in Indian employment laws
• Ethical Dilemmas associated
  • Integrity to employee vs Need to support a family with extra income
  • Individual vs Organisational Obligations

Source:

What Is Moonlighting? Here’s Why Wipro Fired 300 Employees For Doing It

• https://www.outlookindia.com/business/what-is-moonlighting-here-s-why-wipro-fired-300-employees-for-doing-it-news-225205/amp

Image source:

• https://www.meritogroup.com/what-to-do-about-moonlighting-employees/

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