Vanik’s Current Affairs...Kohala hydropower Project. Azad Pattan Hydel Power Project. India's Stand: India has held that the Government of Pakistan or its judiciary has no locus

Vanik’s

Banking | Railway | Insurance | SSC | UPSC | OPSC | PSU

EDITION

65th

Current Affairs

MONTHLY ISSUE NOVEMBER 2020

Length : 9.02km

Shape : Horse Shoe

Distance reduced : 46 km

Time saved : 5 hours

Altitude : 3,000 m above mean sea level

Single-tube, double lane tunnel

Maximum vehicle speed : 80 km/hr

Located below theRohtang Pass, itconnects Manali toLahaul-Spiti Valley

Telephone Facility : Every 150 mFire Hydrant : Every 60 mEmergency Exits : Every 500 m

Turning Cavern : Every 2.2 kmAir quality monitor : Every 1 kmAutomatic incidentdetection system with CCTV cameras : Every 250 m

Atal BihariVajpayee laidthe foundationstone for theapproach roadto the tunnel

2002

ATAL TUNNELWorld’s longest high-altitude Tunnel

ContentsTopics of the Month -------------------------------------------------------- 1

Economy -------------------------------------------------------- 28

RBI in News -------------------------------------------------------- 28

SBI in News --------------------------------------------------------- 30

Other Banks in News ------------------------------------------------ 31

Financial News ------------------------------------------------ 35

MOU and Agreement ------------------------------------------------ 37

Rating and Survey ------------------------------------------------ 38

Fund and Financial Allocation ------------------------------------- 39

Corporate Business and E-Business ------------------------------- 41

Committee and Its Head -------------------------------------------------------- 41

State News -------------------------------------------------------- 42

National -------------------------------------------------------- 52

International -------------------------------------------------------- 61

International and National Summits --------------------------------------- 63

Ranking and Index -------------------------------------------------------- 64

Bilateral -------------------------------------------------------- 66

Award -------------------------------------------------------- 68

Person in News/Newly Appointed -------------------------------------------- 72

Sports -------------------------------------------------------- 74

Science and Technology -------------------------------------------------------- 75

Defence -------------------------------------------------------- 78

Important Days -------------------------------------------------------- 81

Book and Author -------------------------------------------------------- 84

Obituary -------------------------------------------------------- 84

1

MAGAZINE FOR THE MONTH OF NOVEMBER – 2020

Page |

MAJOR ISSUESOF THE MONTH

2


| Page

HUMAN CAPITAL INDEX REPORT-2020 :WORLD BANK

Recently, the World Bank released the Human Capital Index (HCI) report for 2020. The index benchmarkskey components of human capital across countries. India has been ranked at the 116th position in the HCI 2020.

Key PointsHuman Capital: It consists of the knowledge, skills, and health that people accumulate over their lives,enabling them to realize their potential as productive members of society.Parameters Used in HCI: The HCI 2020 includes health and education data of children for 174 countriesup to March 2020. Thus providing a pre-pandemic baseline. It covers 98% of the world’s population.

Outcome: The HCI 2020 shows that pre-pandemic, most countries had made steady progress in buildinghuman capital of children, with the biggest strides made in low-income countries.However, despite this progress, a child born in a typical country could expect to achieve just 56% of theirpotential human capital, relative to a benchmark of complete education and full health.Pandemic Effect: The pandemic puts at risk the decade’s progress in building human capital, including theimprovements in health, survival rates, school enrollment, and reduced stunting. More than 1 billion children have been out of school and could lose out, on average, half a year of

schooling. It has created significant disruptions to essential health services for women and children, with many

children missing out on crucial vaccinations. It has increased income inequality, its economic impact has been particularly deep for women and

for the most disadvantaged families, leaving many vulnerable to food insecurity and poverty.India Specific Data:Last year India was ranked 115 out of 157 countries. This year India finds itself at 116th from among 174countries. However, India’s score increased to 0.49 in 2020 from 0.44 in 2018.Recent Initiatives by India to Strengthen Human Capital: Ayushman Bharat Yojana National Education Policy Atmanirbhar Bharat Yojana TULIP: The Urban Learning Internship Program Samagra Shiksha

Other Reports Published by World Bank: Global Economic Prospects Ease of Doing Business World Development Report

Way Forward The HCI provides a basis on which the government of India can prioritize and a dimension to

support human capital. The World Bank is working with India on supporting livelihood for the poor. Given the progress

that has been made in recent times, it seems more significant for now due to Covid-19. Protecting and investing in people is vital as countries work to lay the foundation for sustainable,

inclusive recoveries and future growth.

1

3


Page |

Gilgit-Baltistan to became PakistaniProvince

Recently, Pakistan has decided to elevate Gilgit-Baltistan’s status to that of a full-fledged province. Gilgit-Baltistan is one of the disputed territories of India.

Key Points Current Status of Gilgit-Baltistan:

It is an autonomous region now and with this elevation, it will become the 5th province of thecountry.

Currently, Pakistan has four provinces namely Balochistan, Khyber Pakhtunkhwa, Punjab, and Sindh.Chronology: 1999: Pakistan’s Supreme Court ruled that the people of Gilgit-Baltistan are Pakistani citizens and

directed the federal government to start appropriate administrative and legislative measures. 2009: The Gilgit-Baltistan Empowerment and Self-Governance Order was introduced, whereby the

Northern Areas were renamed as Gilgit-Baltistan and the region was given province-like status butwithout representation in Parliament.

2015: A committee constituted by the federal government proposed giving Gilgit-Baltistan the statusof a province.

2018: A new order was introduced which transferred all powers of the Gilgit-Baltistan council to itsassembly.

This elevation will lead to adequate representation from the province on all constitutional bodies,including the National Assembly and the Senate.

The Government will also start working on the Moqpondass Special Economic Zone (SEZ) under theChina Pakistan Economic Corridor (CPEC).

2

4


| Page

SEZs work as an engine for economic growth supported by quality infrastructure complemented byan attractive fiscal package, both at the Centre and the State level, with the minimum possibleregulations.

Other Developments by China in Pakistan-occupied Kashmir under CPEC: Diamer-Bhasha Dam. Kohala hydropower Project. Azad Pattan Hydel Power Project.

India's Stand: India has held that the Government of Pakistan or its judiciary has no locus standi on territories

illegally and forcibly occupied by it. India completely rejects such actions and continued attempts to bring material changes in Pakistan

occupied areas of the Indian territory of Jammu and Kashmir. While protesting Islamabad’s efforts to bring material change in Pakistan occupied territories, India

held that Pakistan should immediately vacate all areas under its illegal occupation.China Pakistan Economic Corridor It is the flagship project of China’s ambitious Belt and Road Initiative (BRI). The bilateral project between Pakistan and China intends to promote connectivity across Pakistan

with a network of highways, railways, and pipelines accompanied by energy, industrial and otherinfrastructure development projects.

Originally valued at USD 46 billion, the projects were worth over USD 60 billion as of 2017. It links the Western part of China (Xinjiang) to the Gwadar Port in Balochistan, Pakistan via

Khunjerab Pass in Northern Pakistan. India has protested to China over the CPEC as it is being laid through Pakistan-occupied Kashmir.

5


Page |

Wetland ConservationRajasthan Government is acting proactively to protect the wetland ecosystem of the state with 52 wetlandsearmarked for time-bound development. In Rajasthan, Sambhar Lake and Keoladeo Ghana National Park have the prestigious tag of

‘Wetland of International Importance’, by the Ramsar Convention on Wetlands.Key Points Wetlands are defined as: "lands transitional between terrestrial and aquatic eco-systems where the

water table is usually at or near the surface or the land is covered by shallow water".Importance:Ecosystem and biodiversity support: Wetlands are highly productive ecosystems that provide the world with nearly two-thirds of its

fish harvest. Wetlands play an integral role in the ecology of the watershed. The combination of shallow water,

high levels of nutrients is ideal for the development of organisms that form the base of the foodweb and feed many species of fish, amphibians, shellfish and insects.

Wetlands' microbes, plants and wildlife are part of global cycles for water, nitrogen and sulphur.Wetlands store carbon within their plant communities and soil (carbon sequestration) instead ofreleasing it to the atmosphere as carbon dioxide.

They provide habitat for animals and plants and many contain a wide diversity of life, supportingplants and animals that are found nowhere else.

They are also an important source of ground water recharge.Human Dependence: More than one billion people depend on them for a living. Wetlands are a vital source for food, raw materials, genetic resources for medicines, and

hydropower. Many wetlands are areas of natural beauty and promote tourism and many are important to

Aboriginal people. Also, they help in controlling the floods.

Threats to Wetlands: Urbanization: Wetlands near urban centres are under increasing developmental pressure for

residential, industrial and commercial facilities. Urban wetlands are essential for preservingpublic water supplies.

Agriculture: Vast stretches of wetlands have been converted to paddy fields. Construction of alarge number of reservoirs, canals and dams to provide for irrigation significantly altered thehydrology of the associated wetlands.

Pollution: Wetlands act as natural water filters. However, they can only clean up the fertilizersand pesticides from agricultural runoff but not mercury from industrial sources and other types ofpollution.

There is growing concern about the effect of industrial pollution on drinking water supplies andthe biological diversity of wetlands.

Climate Change: Increased air temperature; shifts in precipitation; increased frequency ofstorms, droughts, and floods; increased atmospheric carbon dioxide concentration; and sea levelrise could also affect wetlands.

Dredging and sand mining: That is the removal of material from a wetland or river bed.Dredging of streams lowers the surrounding water table and dries up adjacent wetlands.

Introduced Species: Indian wetlands are threatened by exotic introduced plant species such aswater hyacinth and salvinia. They clog waterways and compete with native vegetation.

3

6


| Page

Global Conservation Efforts: Ramsar Convention The Convention came into force in 1975 and is one of the oldest inter-governmental accord for

preserving the ecological character of wetlands. The Convention’s mission is “the conservation and wise use of all wetlands through local and

national actions and international cooperation, as a contribution towards achieving sustainabledevelopment throughout the world”.

India has 37 Ramsar Sites which are the Wetlands of International importance. Montreux Record Montreux Record is a register of wetland sites on the List of Wetlands of International

Importance where changes in ecological character have occurred, are occurring, or are likely tooccur as a result of technological developments, pollution or other human interference.

Wetlands of India that are in Montreux Record: Keoladeo National Park (Rajasthan) and LoktakLake (Manipur).

Chilka lake (Odisha) was placed in the record but was later removed from it.Conservation Efforts by India:National Plan for Conservation of Aquatic Ecosystems (NPCA): NPCA is a single conservation programme for both wetlands and lakes. It is a centrally sponsored scheme, currently being implemented by the Union Ministry of

Environment and Forests and Climate Change. It was formulated in 2015 by merging of the National Lake Conservation Plan and the National

Wetlands Conservation Programme. NPCA seeks to promote better synergy and avoid overlap of administrative functions.

Wetlands (Conservation and Management) Rules, 2017: Nodal authority: As per the Wetlands Rules, the Wetlands Authority within a state is the nodal

authority for all wetland-specific authorities in a state/UT for the enforcement of the rules. Prohibited activities: Setting up any industry and expansion of existing industries, Dumping solid waste or discharge of untreated wastes and effluents from industries and any

human settlements, and Encroachment or conversion for non-wetlands uses. Integrated Management Plan: The guidelines recommend that the state/UT administration

prepare a plan for the management of each notified wetland by the respective governments. Penalties: Undertaking any prohibited or regulated activities beyond the thresholds (defined by

the state/UT administration) in the wetlands or its zone of influence, will be deemed violationsunder the Wetlands Rules. Violation of the Rules will attract penalties as per the Environment(Protection) Act, 1986.

7


Page |

Indus Water TreatyThe Indus Water Treaty (IWT) between India and Pakistan marks its 60th anniversary on 19th September2020.Key PointsAbout:

The Indus system comprises the main Indus, Jhelum, Chenab, Ravi, Beas and Sutlej. The basin ismainly shared by India and Pakistan with a small share for China and Afghanistan.

With the partition of India in 1947, waters of Indus rivers system were also divided. The sharing formula, devised after prolonged negotiations, sliced the Indus system into two halves.

The three ‘western rivers’ (Indus, Jhelum and Chenab) went to Pakistan and the three ‘eastern rivers’(Sutlej, Ravi and Beas) were portioned to India.

India is allowed to use 20% water of the western rivers for irrigation, power generation and transportpurposes.

IWT granted 3.6 million acre-feet (MAF) of “permissible storage capacity” to India on the westernrivers but due to poor water development projects, 2-3 MAF of water easily flows into Pakistan.

It seemed equitable but India conceded 80.52% of the aggregate water flows in the Indus system toPakistan and also gave Rs. 83 crore in pounds sterling to Pakistan to help build replacement canalsfrom the western rivers.

India conceded its upper riparian position on the western rivers for the complete rights on the easternrivers.

It was important to get the waters of the ‘eastern rivers’ for the Indira Gandhi Canal in Rajasthan(starts from the Harike Barrage, a few kilometers below the confluence of the Satluj and Beas rivers)

4

8


| Page

and the Bhakra Dam (on the Sutlej River in Bilaspur, Himachal Pradesh) without which both Punjaband Rajasthan would be left dry, severely hampering India’s food production.

The World Bank, as the third party, played a pivotal role in crafting the IWT.Pakistan’s Responses: The Pakistan leadership considers the sharing of the waters with India an unfinished business. Pakistan is not comfortable with the fact that India got away with the total flow of 33 million acre-

feet on the eastern rivers, while it had to share the waters of western rivers. Being a lower riparian state, Pakistan’s scepticism of India allows it to increasingly politicise the

issue. It maintains high troop levels and alertness around the canals on the eastern front, fearing thatIndia will try to take control of the western rivers.

Changing Perspectives in India: Every now and then, there is an uproar in India for abrogating the IWT as a response to Pakistan’s

cross-border terrorism and tenacity. Abrogating IWT would require a number of politico-diplomatic and hydrological factors to be

determined and also a political consensus. Terror attacks in Indian Parliament in 2001, Mumbai in 2008, and the incidents in Uri in 2016 and

Pulwama in 2019 could have prompted India, within the Vienna Convention on the Law of Treaties,to withdraw from the IWT. However, on each occasion, India chose not to do so.

Vienna Convention on the Law of Treaties, an international agreement governing treaties betweenstates that was drafted by the International Law Commission of the United Nations.

It was adopted in 1969 and entered into force in January 1980. It is because India respects its signature and values trans-boundary rivers as an important connector in

the region in terms of both diplomacy and economic prosperity. However, in light of India being hesitant to abrogate the treaty, there have been suggestions to

modify it. Currently, with a new set of hydrological realities, advanced engineering methods in dam

construction and de-siltation, there is an urgent need to modify the treaty. Article XII of the IWT says that it “may from time to time be modified” but carefully notes “by a

duly ratified treaty concluded for that purpose between the two governments”. Pakistan will see no merit in any modification, having already got a good deal in 1960. India’s best option, therefore, would be to optimise the provisions of the treaty. On the developments on western rivers, the permissible storage capacity on the western rivers needs

to be urgently utilised. Out of the total estimated capacity of 11406 MW electricity that can beharnessed from the three western rivers in Kashmir, only 3034 MW has been tapped so far, whichalso needs to be looked into.

Tulbul Navigation project on Jhelum, Ratle and Bagliha hydro projects on Chenab, Bursarhydroelectric project on one of the tributaries of the Chenab in Jammu and Kashmir are few of theprojects to utilise the waters of western rivers.

Bursar, once completed, will be India’s first project on the western rivers to have storageinfrastructure.

India has fast-tracked the work on Shahpur Kandi dam project, a second Sutlej-Beas link in Punjaband the Ujh Dam project in Jammu and Kashmir to fully utilise the waters of eastern rivers.

Way Forward The role of India, as a responsible upper riparian abiding by the provisions of the treaty, has been

remarkable but the country is under pressure to rethink the extent to which it can remain committedto the provisions, as its overall political relations with Pakistan becomes intractable.

IWT is often cited as an example of the possibilities of peaceful coexistence that exist despite thetroubled relationship between both neighbouring countries.

9


Page |

G4 Foreign Ministers MeetingRecently, Foreign Ministers from the Group of 4 (G4), consisting of India, Brazil, Japan and Germany,participated in a virtual meeting.G4 is a group of countries that are seeking permanent membership of the United Nations Security Council(UNSC).Key Points G4 will seek concrete and time-bound outcomes during the 75th session of the UN General

Assembly. The UN will celebrate its 75th anniversary on 24th October 2020. The Ministers reaffirmed their common resolve to finally take decisive steps towards the early and

comprehensive reform of the Security Council that was envisaged by Heads of State andGovernment in the 2005 World Summit.

The 2005 World Summit was held at United Nations Headquarters in New York. All governments expressed strong and unambiguous commitment to achieve the Millennium

Development Goals by 2015. It set up two new bodies, a Peacebuilding Commission to help countries in transition from war to

peace, and a strengthened Human Rights Council.G4 on UNSC Reforms Ensuring greater representation for Africa: Africa needs to be represented in both the permanent

and non-permanent categories of UNSC to correct the historical injustice against this continent withregard to its under-representation in the Security Council.

Enhanced role of developing countries and of major contributors to the UN: To make UNSC morelegitimate, effective and representative, it is needed to increase the number of permanent (from 5 to11) and non-permanent (from 10 to 14) seats.

The permanent seats shall be elected in the following manner: Two from African States; Two fromAsian States; One from Latin American and Caribbean States ; One from Western European andOther States.

Non-permanent members shall be elected according to the following pattern : One from AfricanStates ; One from Asian States ; One from Eastern European States ; One from Latin American andCaribbean State

The UNSC reforms proposed earlier had been opposed by the five permanent members (P5) ofUNSC as they demanded veto power for new members as well (Rizali Plan). However, later thenew countries decided to forego the veto power for new countries which was accepted by P5countries (Rizali Reform Plan).

Text-Based Negotiations: The G4 will work with other reform-minded countries and groups to start text-based negotiations (TBN) India is a proponent of TBN at the UN. Countries opposed to UNSC reform, including China, are

hesitant to have TBN for intergovernmental negotiations on the grounds that the matter is toosensitive for text.

Concerns over IGN: Two sessions in February and March 2020 of Inter-Governmental Negotiations (IGN)on UNSC reform were adjourned due to Covid-19, which could have taken place virtually. The countries expressed concern that IGN lacks the necessary openness and transparency and is

constrained by flawed working methods. IGN should also have included a reflection of the Common African Position as enshrined in the

Ezulwini Consensus and the Sirte Declaration.

5

10


| Page

The Ezulwini Consensus (2005) is a position on international relations and reform of the UnitedNations, agreed by the African Union. It calls for a more representative and democratic Securitycouncil, in which Africa, like all other world regions, is represented.

The Sirte Declaration (1999) was the resolution adopted to establish the African Union. Groups Opposed to UNSC Reforms: An informal "coffee club" or Uniting for Consensus Group

has opposed UNSC reforms. Most members of the club are middle-sized states who oppose bigger regional powers grabbing

permanent seats in the UN Security Council. While Italy and Spain are opposed to Germany's bid for UNSC’s permanent membership, Pakistan

is opposed to India's bid. Similarly, Argentina is against Brazil's bid and Australia opposes Japan's. India’s Position: India, will commence a two-year non-permanent term on the UNSC in January,

2021 It has long sought a permanent seat at the Council. Four of the five permanent members of the Security Council – USA, UK, France and Russia

support giving India a permanent seat at the Council. Only China is opposed to this. India is also seeking reforms to democratize the UN, such as UNSC reforms and UN peacekeeping

reforms.Intergovernmental Negotiations IGN is a group of nation-states working within the United Nations to further reform of the United

Nations Security Council (UNSC) The IGN is composed of several different international organizations, namely: African Union G4 nations Uniting for Consensus Group (UfC) L.69 Group of Developing Countries Arab League Caribbean Community (CARICOM).

Foreign Contribution (Regulation)Amendment Bill, 2020.

The Foreign Contribution (Regulation) Amendment Bill, 2020 was passed by the Parliament. The Bill amendsthe Foreign Contribution (Regulation) Act, 2010.Key PointsProvisions of the Bill: Prohibition to accept foreign contribution: The Bill bars public servants from receiving foreign

contributions. Public servant includes any person who is in service or pay of the government, or remunerated by the

government for the performance of any public duty. The FCRA 2010 also bars certain persons to accept any foreign contribution. These include: election

candidates, editor or publisher of a newspaper, judges, government servants, members of anylegislature, and political parties, among others.

Transfer of foreign contribution: The Bill prohibits the transfer of foreign contribution to any otherperson.

The term ‘person’ under the Bill includes an individual, an association, or a registered company.

6

11


Page |

The FCRA 2010 allows transfer of foreign contributions to persons registered to accept foreigncontributions.

Aadhaar for registration: The Bill makes Aadhaar number mandatory for all office bearers, directors or keyfunctionaries of a person receiving foreign contribution, as an identification document. In case of a foreigner, a copy of the passport or the Overseas Citizen of India card for identification is

required.FCRA account: The Bill states that foreign contribution must be received only in an account designated by thebank as FCRA account in such branches of the State Bank of India, New Delhi. No funds other than the foreigncontribution should be received or deposited in this account. The person may open another FCRA account in any scheduled bank of their choice for keeping or

utilising the received contribution.Restriction in utilisation of foreign contribution: The Bill allows the government to restrict usage ofunutilised foreign contribution. This may be done if, based on an inquiry the government believes that suchperson has contravened provisions of the FCRA.Reduction in use of foreign contribution for administrative purposes: The Bill proposes that not more than20% of the total foreign funds received could be defrayed for administrative expenses. In FCRA 2010 the limitwas 50%.Surrender of certificate: The Bill allows the central government to permit a person to surrender theirregistration certificate. The government may do so if, post an inquiry, it is satisfied that such person has not violated any

provisions of the FCRA 2010, and the management of its foreign contribution has been vested in anauthority prescribed by the government.

Purpose for Amendment: The annual inflow of foreign contribution has almost doubled between the years 2010 and 2019, but

many recipients of foreign contribution have not utilised the same for the purpose for which they wereregistered or granted prior permission under the FCRA 2010.

Recently, the Union Home Ministry has suspended licenses of the six (NGOs) who were alleged tohave used foreign contributions for religious conversion.

Many persons were not adhering to statutory compliances such as submission of annual returns andmaintenance of proper accounts.

Such a situation could have adversely affected the internal security of the country. The new Bill aims to enhance transparency and accountability in the receipt and utilisation of foreign

contributions and facilitating the genuine non-governmental organisations or associations who areworking for the welfare of society.

Issues Involved The Bill would impact the livelihoods of workers associated with the small Non-Governmental

Organisations (NGOs) and lead to the killing of the entire social sector as caps on administrativeexpenses would make it impossible for even the bigger NGOs to perform.

It will severely impact collaborative research in critical fields in India as organisations receivingforeign funds will no longer be able to transfer them to small NGOs working at the grassroots level.

The government aims to control the NGOs which engage in dubious activities. However, by failingto recognise the diversity of NGOs, which include world-class organisations that are recognisedglobally, will crush their competitiveness and creativity.

It is also incompatible with international law. The United Nations Human Rights Council resolution on protecting human rights defenders says

that no law should criminalize or delegitimize activities in defence of human rights on account ofthe origin of funding.

The Bill also fails to comply with India’s international legal obligations and constitutionalprovisions to respect and protect the rights to freedom of association, expression, and freedom ofassembly.

The amendments also assume that NGOs that are receiving foreign funds are guilty unless provenotherwise.

Foreign Contribution (Regulation) Act (FCRA), 2010 Foreign funding of persons in India is regulated under FCRA act and is implemented by the

Ministry of Home Affairs. Individuals are permitted to accept foreign contributions without permission of MHA. However,

the monetary limit for acceptance of such foreign contributions shall be less than Rs. 25,000. The Act ensures that the recipients of foreign contributions adhere to the stated purpose for which

such contribution has been obtained. Under the Act, organisations are required to register themselves every five years.

12


| Page

Way Forward NGOs are helpful in implementing government schemes at the grassroots. They fill the gaps, where

the government fails to do their jobs. The government must stick to the ancient Indian ethos of Vasudhaiva Kutumbakam as the

framework for its global engagement and should not act with vendetta against the NGOs whocriticize it’s working.

Seamless sharing of ideas and resources across national boundaries is essential to the functioning ofa global community, and should not be discouraged unless there is reason to believe the funds arebeing used to aid illegal activities.

Artemis Programme : NASAThe National Aeronautics and Space Administration’s (NASA) published the outline for its Artemis program,which plans to send the next man and first woman to the lunar surface by the year 2024. The last time NASA sent humans to the Moon was in 1972, during the Apollo lunar mission.Key PointsThe Artemis program: With the Artemis program, NASA wishes to demonstrate new technologies, capabilities and business

approaches that will ultimately be needed for the future exploration of Mars. It stands for Acceleration, Reconnection, Turbulence, and Electrodynamics of the Moon’s Interaction

with the Sun.The program is divided into three parts: Artemis I is most likely to be launched 2021 and involves an uncrewed flight to test the Space Launch

System (SLS) and Orion spacecraft. Artemis II will be the first crewed flight test and is targeted for 2023. Artemis III will land astronauts on the Moon’s South Pole in 2024.Systems Developed:For NASA, going to the moon involves various elements such as: The exploration ground systems (the structures on the ground that are required to support the launch), The Space Launch System (SLS) and Orion (the spacecraft for lunar missions). NASA’s new rocket called SLS will send astronauts aboard the Orion spacecraft. Gateway (the lunar outpost around the Moon), Lunar landers (modern human landing systems), Once the astronauts dock Orion at the Gateway — which is a small spaceship in orbit around the moon —

they will be able to live and work around the Moon, and from the spaceship, will take expeditions to thesurface of the Moon.

The astronauts going for the Artemis program will wear newly designed spacesuits, called ExplorationExtravehicular Mobility Unit, or xEMU.

These spacesuits feature advanced mobility and communications and interchangeable parts that can beconfigured for spacewalks in microgravity or on a planetary surface.

NASA and the Moon The US began trying to put people in space as early as 1961. Eight years later, on 20th July, 1969, Neil

Armstrong along with Edwin “Buzz” Aldrin became the first human to step on the Moon as part of theApollo 11 mission.

7

13


Page |

Apart from the purpose of space exploration, NASA’s endeavour to send Americans to the Moon again isto demonstrate American leadership in space and to establish a strategic presence on the Moon, whileexpanding the US global economic impact.

Moon Exploration In 1959, the Soviet Union’s uncrewed Luna 1 and 2 became the first rover to visit the Moon. Before the USA sent the Apollo 11 mission to the Moon, it sent three classes of robotic missions between

1961 and 1968. After July 1969, 12 American astronauts walked on the surface of the Moon until 1972. In the 1990s, the USA resumed lunar exploration with robotic missions Clementine and Lunar Prospector. In 2009, it began a new series of robotic lunar missions with the launch of the Lunar Reconnaissance

Orbiter (LRO) and the Lunar Crater Observation and Sensing Satellite (LCROSS). In 2011, NASA began the ARTEMIS. In 2012, the Gravity Recovery and Interior Laboratory (GRAIL) spacecraft studied the Moon’s gravity. Apart from the USA, the European Space Agency, Japan, China, and India have sent missions to explore

the Moon. China landed two rovers on the surface, which includes the first-ever landing on the Moon’sfar side in 2019.

ISRO’s Moon Exploration:Chandrayaan 1: The Chandrayaan project began in 2007 with an agreement between India’s space agency ISRO and

Russia’s ROSCOSMOS for mutual cooperation. However, the mission was postponed in January 2013 and rescheduled to 2016 as Russia was unable to

develop the lander on time. Findings: Confirmed presence of lunar water. Evidence of lunar caves formed by an ancient lunar lava flow. Past tectonic activity was found on the lunar surface. The faults and fractures discovered could be features of past interior tectonic activity coupled with

meteorite impacts. Chandrayaan-2 is India's second mission to the moon and comprises a fully indigenous Orbiter, Lander

(Vikram) and Rover (Pragyan). The Rover Pragyan is housed inside Vikram lander. The Indian Space Research Organisation (ISRO) recently announced India’s third lunar mission

Chandrayaan-3, which will comprise a lander and a rover.

PCA Decision on RetrospectiveTaxation by India

The Permanent Court of Arbitration (PCA) at The Hague (Netherlands) ruled that India’s retrospectiveimposition of a tax liability, as well as interest and penalties on Vodafone Group for a 2007 deal was violationof the Bilateral Investment Treaty with Netherlands and the arbitration rules of United Nations Commissionon International Trade Law (UNCITRAL).Key PointsAbout the Case: In May 2007, the British telecommunication company Vodafone Group had bought a 67% stake in a

company called Hutchison Whampoa.

8

14


| Page

For this, the Indian government for the first time raised a demand of capital gains and withholding taxfrom Vodafone, under the Income Tax Act of 1961. The government argued that Vodafone shouldhave deducted the tax at source before making a payment to Hutchison.

Capital gains tax : It is the tax paid on income that derives from the sale or exchange of an asset, such as a stock or

property that's categorized as a capital asset. In 2012, the Supreme Court ruled in favour of the Vodafone Group. Later, the Finance Act was amended (2012) giving the Income Tax Department the power to

retrospectively tax such deals. Vodafone then initiated arbitration in 2014 invoking the Bilateral Investment Treaty signed between

India and the Netherlands in 1995.Ruling: The International Arbitration Tribunal at Permanent Court of Arbitration ruled that the government’s

demand is in breach of fair and equitable treatment. The government must cease seeking the dues from Vodafone. This was a unanimous decision meaning that India's appointed arbitrator also ruled in favour of

Vodafone.Future Course for India: India has said it would study the order and all its aspects and take a decision on further course of

action including legal remedies before appropriate fora. According to Indian Government, as Vodafone had not paid the initial tax demand and interest and

penalty on it, the question of India paying back the amount does not arise. India has the option to move to Singapore International Arbitration Centre as well.

Retrospective Taxation: It allows a country to pass a rule on taxing certain products, items or services and deals and charge

companies from a time behind the date on which the law is passed. Countries use this route to correct any anomalies in their taxation policies that have, in the past,

allowed companies to take advantage of such loopholes. Retrospective Taxation hurts companies that had knowingly or unknowingly interpreted the tax rules

differently. Apart from India, many countries including the USA, the UK, the Netherlands, Canada, Belgium,

Australia and Italy have retrospectively taxed companies.Bilateral Investment Treaty: On 6th November, 1995, India and the Netherlands had signed a BIT for promotion and protection of

investment by companies of each country in the other’s jurisdiction. The two countries would ensure that companies present in each other’s jurisdictions would at all

times be accorded fair and equitable treatment and shall enjoy full protection and security in theterritory of the other.

The BIT between India and the Netherlands expired on 22nd September, 2016. Relation to Vodafone Case: Vodafone invoked BIT as its Dutch unit, Vodafone International

Holdings BV, had bought the Indian business operations of Hutchison TelecommunicationInternational Ltd. This made it a transaction between a Dutch firm and an Indian firm.

United Nations Commission on International Trade Law: UNCITRAL was established in 1966 as a subsidiary body of the United Nations General Assembly

(UNGA). It is the core legal body of the United Nations system in the field of international trade law. Mandate: To further the progressive harmonization and modernization of rules on international

business and reform commercial laws. It adopted the UNCITRAL Model Law on International Commercial Arbitration in 1985 and the

UNCITRAL Conciliation Rules in 1980. The UNGA has recommended the use of the said Model Law and Rules in cases where a dispute

arises in the context of international commercial relations and the parties seek an amicable settlementof that dispute by recourse to conciliation.

India has also incorporated these uniform principles of Arbitration and Dispute Resolution (ADR) inthe Arbitration and Conciliation Act, 1996 which has been amended several times.

The Arbitration Act provides for ADR mechanisms like arbitration, conciliations, etc. for nationaland international stakeholders.

Significance Vodafone’s win in the arbitration against the government in the retrospective taxation is very

significant as it may cause other similarly placed companies to seek arbitral reliefs.

15


Page |

India is entangled in more than a dozen such cases against companies over retrospective tax claimsand cancellation of contracts. The exchequer could end up paying billions of dollars in damages if itloses.

To reduce future arbitration claims, India has ended such bilateral investment agreements with over50 countries and is working on a new law to protect foreign investors by offering relief from possiblepolicy changes even as it upholds the right to tax them.

The victory of Vodafone at PCA may provide it some relief as the telecom sector is already facing anumber of issues and challenges. The ruling comes days after the Supreme Court allowed a period of10 years for telecom companies to clear Adjusted Gross Revenue (AGR) related dues, causing heavyfinancial burden on the telecom sector.

International Arbitration Tribunal It is an independent non-governmental panel of independent and impartial experts. It generally comprises three members nominated by the Parties (or appointed by the International

Arbitration Institution, or by a National Court) on the basis of their legal and practical expertise andknowledge, to render a final and binding award.

Permanent Court of Arbitration Established in: 1899. HQ: The Hague, Netherlands. Purpose: It is an intergovernmental organization dedicated to serve the international community in

the field of dispute resolution and to facilitate arbitration and other forms of dispute resolutionbetween States.

Structure: The PCA has a three-part organizational structure consisting of: Administrative Council - to oversee its policies and budgets, Members of the Court - a panel of independent potential arbitrators, and International Bureau - its Secretariat, headed by the Secretary-General. Funds: It has a Financial Assistance Fund which aims at helping developing countries meet part of

the costs involved in international arbitration or other means of dispute settlement offered by thePCA.

Way Forward India needs to craft meaningful and clear dispute resolution mechanisms in cross-border transactions

to prevent the disputes from going to international courts, and save the cost and time expenditure.Improving the arbitration ecosystem will have a positive impact on ease of doing business.

Armenia-Azerbaijan ConflictRecently, territorial dispute between Armenia and Azerbaijan over the Nagorno-Karabakh region has re-eruptedwith heavy clashes.Armenia and Azerbaijan are part of Transcaucasia or South Caucasia (geographical region in the vicinity of thesouthern Caucasus Mountains on the border of Eastern Europe and Western Asia consisting of Georgia,Armenia, and Azerbaijan).Recently, territorial dispute between Armenia and Azerbaijan over the Nagorno-Karabakh region has re-erupted with heavy clashes. Armenia and Azerbaijan are part of Transcaucasia or South Caucasia (geographical region in the vicinity

of the southern Caucasus Mountains on the border of Eastern Europe and Western Asia consisting ofGeorgia, Armenia, and Azerbaijan).

9

16


| Page

Key PointsReasons for Dispute: Territorial: Nagorno-Karabakh region has 95% of the population as ethnically Armenian and is

controlled by them but it is internationally recognised as part of Azerbaijan. Religious: Armenia is Christian majority, while Azerbaijan is Muslim majority country. Domestic Politics: The leaders of both the nations have fueled the issue time and again for their vested

political interests.History of Dispute: 1920: Nagorno-Karabakh Autonomous Region was established within Azerbaijan by the then Soviet

Union. 1988: Nagorno-Karabakh legislature passed a resolution to join Armenia despite the region's legal

location within Azerbaijan’s borders. 1991 : The autonomous region officially declared that it would not join either of the countries after a

referendum which was boycotted by Azerbaijan. War erupted between Armenia and Azerbaijan overthe region, leaving roughly tens of thousands of casualties and hundreds of thousands of refugees.

1994: Russia mediated a cease-fire which has remained in place since. 2016: In April 2016, the region was particularly tense because of violent fighting between the two

countries, which was known as the Four Day War. Apart from this, intermittent ceasefire violations between Azerbaijani and Armenian troops have

caused hundreds of deaths in the past decade.Impact: Destabilize the Region: Renewed tensions threaten to reignite a military conflict between the countries

and destabilize the South Caucasus region. This may cause social unrest in the region which is alreadysuffering from the Covid-19 pandemic.

Civilian Casualties: In this disputed region, there are hundreds of civilian settlements, residents ofwhich would be directly impacted and potentially displaced if any large-scale war were to break outbetween the two countries

Economic Impact: This could also disrupt oil and gas exports from the region, since Azerbaijan, is asignificant oil and gas exporter to Europe and Central Asia. This may even lead to higher oil pricesglobally.

International Involvement: Russia has closer ties with Armenia while Turkey and USA supportAzerbaijan, and Iran has a large Azeri minority, which could escalate a crisis and entangle actorsinvolved. Any military escalation would draw regional powers like Turkey and Russia more deeplyinto the conflict.

Russia, Israel and many other countries have been supplying Arms to both the countries despite thearms embargo by the United Nations.

Effect on India India- Armenia: In recent years, Indian-Armenian bilateral cooperation has seen rapid growth. The then Vice-President of India visited Yerevan (Armenia) in 2017.

16


| Page
















16


| Page
















17


Page |

Armenia bought the India SWATHI military radar system in March 2020. Many Indian students study in Armenian medical Universities and in recent years Armenia has

witnessed an increasing flow of Indian labour migrants. For Armenia, close relations with India are vitally important as India provides a counter balance to the

rival strategic axis between Azerbaijan, Pakistan and Turkey. India-Azerbaijan: India is part of the International North–South Transport Corridor (INSTC), a

multimodal network of ship, rail, and road route for moving freight between India, Iran, Afghanistan,Azerbaijan, Russia, Central Asia and Europe.

Azerbaijan is a dialogue partner of Shanghai Cooperation Organisation (SCO), which India is amember of.

In 2018, the then Indian External affairs minister had visited Baku (Azerbaijan), the first-ever bilateralvisit of an Indian External Affairs Minister to Azerbaijan.

India’s ONGC-Videsh is an investor in Azeri-Chirag-Gunashli (ACG) oil fields and Baku-Tbilisi-Ceyhan pipeline.

However, Azerbaijan supports Pakistan’s position on the Kashmir issue.Pakistan Angle: India has supported Armenia while Azerbaijan has been supported by Pakistan. Pakistan was the

second country to recognize Azerbaijan’s independence after Turkey. Also, Pakistan is the onlycountry that does not recognize Armenia as an independent state and fully supports Azerbaijan’sposition.

China Angle: China has grown increasingly active in the caucasian region, conducting a number of programs and

signing economic, political and military agreements with Armenia. Armenia has also agreed toparticipate in the Chinese Belt and Road project.

However, China is an ally of its rival Azerbaijan and Armenia is also aware of its support to Pakistan.Way Forward The conflict between the two countries has reached alarming levels and the international mediators

should intervene immediately and push sides for substantive negotiations to prevent any furtherescalations.

Growing Pakistan- China-Turkey’s influence in the south caucasus region is a source of concern forIndia. It is important for it to strengthen its ties with both the countries in line continuing its non-aligned stance, and call for peace in the region.

Atal TunnelThe Prime Minister has inaugurated the Atal Tunnel in Himachal Pradesh’s Rohtang, which connects SolangValley near Manali to Sissu in Lahaul and Spiti district.Key PointsAbout: The 9.02-km tunnel is the longest highway tunnel in the world above the height of 3,000 metres. It cuts through a mountain west of the Rohtang pass and will shorten the distance between Solang

Valley and Sissu by around 46 km and will take around 15 minutes to cover. Earlier, it would takenearly 4 hours to travel between the two points.

Significance: All year Connectivity: The Atal tunnel is the first step towards all-year connectivity to Ladakh.

The tunnel has the potential to link Ladakh to Manali and Chandigarh throughout the year, as itwould bypass Rohtang Pass, which is snowed in through the winter months.

10

18


| Page

Strategic: The tunnel provides a strategic advantage to the country's armed forces by providingyear-long connectivity to border areas. It will save an entire day for troops and supplies as theymove towards forward posts.

Avail Basic Facilities: The residents of Ladakh who had to face immense hardship to avail evenbasic facilities like healthcare and food supplies will now be able to reach Manali and connect withthe rest of the country using this new tunnel. Essential commodities like petrol and vegetablesupplies would also likely be available throughout the year.

Boon for Farmers: The drop in travel time will help many, especially farmers whose preciouscrops like peas and potatoes will no longer rot in trucks before reaching the market.

Boost to Tourism: Livelihoods in the tourism sector of the residents in Lahaul Valley and Ladakhwould get a boost.

Rohtang Pass Rohtang Pass (elevation 3,978 m) is located in the state of Himachal Pradesh. It is present on the Pir Panjal Range of Himalayas.

Reforms in Exploration and LicensingPolicy : Oil & Gas

The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister has approved the Policyframework on reforms in the exploration and licensing sector for enhancing domestic exploration andproduction of oil and gas.

11

19


Page |

Key PointsObjectives: Attract new investment in Exploration and Production (E&P) Sector. Intensification of exploration activities in unexplored areas. Liberalizing the policy in producing basins.

Four Focus Areas:Increasing Exploration Activities in Unexpected Areas: Bidding out uncommercialized basins to contractors without them having to share revenue or

production with the Government and only paying royalties/levies. For unallocated/unexplored areas, the bidding to be based on a revenue-sharing basis but more

weightage to work programme to be given. Shorter exploration period and fiscal incentives.

Marketing and Pricing Freedom: To incentivize enhanced gas production, marketing and pricing freedom to be granted for those new

gas discoveries whose Field Development Plan (FDP) is yet to be approved. FDP is the evaluation document of multiple development options for a field and selecting the best

option based on assessing tradeoffs. Fiscal incentive on additional gas production from domestic fields over and above normal production.

Preparation of Enhanced Production Profile: Public sector Undertakings like Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) will

prepare an enhanced production profile to enhance production from their existing fields. For production enhancement, bringing new technology, and capital, No Objection Certificates

(NOCs) will be allowed to induct private sector partners.Promoting Ease of Doing Business: Measures like setting up coordination mechanism and simplification of approval, alternate dispute

resolution mechanism etc. to be taken.Background: Domestic production of oil and gas was declining, import dependence was rising and investment in

E&P activities was reducing. Thus, policy reform in this sector was needed. Earlier, the government between 2016 and 2019 had given pricing freedom for all fields except those

given to state-owned ONGC and OIL on a nomination basis. But, there were restrictions on marketing like a ban on affiliates of producers buying the fuel etc. This

restricted competition kept prices artificially low. The Hydrocarbon Exploration and Licensing Policy or HELP was approved in March 2016, aimed at

increasing the transparency and decreasing the administrative discretion in granting hydrocarbonlicenses. It replaced the New Exploration Licensing Policy (NELP), 1997.

Recently, India also launched its first gas exchange which has been named as the Indian GasExchange (IGX).

Benefits: Development of support services. Employment generation. Transfer of advanced technology. Reducing import dependence. Improve energy security of the country. Save the precious foreign exchange on imports.

Petroleum Crude petroleum occurs in sedimentary rocks of the tertiary period. It consists of hydrocarbons of liquid and gaseous states varying in chemical composition, colour and

specific gravity. It is an essential source of energy for all internal combustion engines in automobiles, railways and

aircraft. Its numerous by-products are processed in petrochemical industries such as fertiliser, synthetic

rubber, synthetic fibre, medicines, vaseline, lubricants, wax, soap and cosmetics. Venezuela, Saudi Arabia, Canada, Iran, Iraq, Kuwait, Russia are some major countries with the

largest oil reserves. Digboi, Naharkatiya and Moran in Assam, Ankleshwar, Kalol, Mehsana, Navagam, Kosamba and

Lunej in Gujarat; Mumbai High in Maharashtra are important oil-producing areas in India.Natural Gas Natural gas is found with petroleum deposits and is released when crude oil is brought to the surface.

It can be used as a domestic and industrial fuel.

20


| Page

Russia, Norway, UK and the Netherlands are the major producers of natural gas. In India, Jaisalmer, Krishna Godavari delta, Tripura and some areas offshore in Mumbai have natural

gas resources. The Gas Authority of India Limited was set up in 1984 as a public sector undertaking to transport and

market natural gas.Oil and Natural Gas Corporation Oil and Natural Gas Corporation (ONGC) is a Maharatna Public Sector Undertaking (PSU) of the

Government of India. It was set up in 1995 and is under the Ministry of Petroleum and Natural Gas. It is the largest crude oil and natural gas company in India, contributing around 70% to Indian

domestic production.Way Forward The production enhancement scheme for the nomination field of NOCs is likely to augment

production by leveraging new technology, capital and management practices through private sectorparticipation.

It would bring uniformity to the bidding process across various contractual regimes and policies toavoid ambiguity and contribute towards ease of doing business.

The move is in line with India’s goal of becoming self-reliant as envisaged in the Atmanibhar Bharatinitiative. It will help India develop into a gas-based economy.

India in BRICS Ministers’ MeetingRecently, the BRICS Labour and Employment Ministers’ Virtual Meeting was held under the RussianPresidency. It aimed to discuss various issues including approaches to creating a safe work culture in BRICS

countries.Key PointsEmphasis on Health of Workers: It was highlighted that health, welfare and improved working conditions are essential for the well-

being of the workers. A healthy workforce in the country would be more productive and contributeto economic growth.

The aspects of occupational safety and health measures to mitigate the impact of Covid-19 havealso acquired significance.

India’s Stand: India called for suitable global action especially by BRICS towards effecting a balance between

labour and employer which will generate growth and create more jobs and greater labour welfare. India also highlighted the importance of digitisation and technological advancements like artificial

intelligence (AI) and robotics in reshaping lives and work, with a direct or indirect effect on thelabour market.

Digitisation also offers the opportunity for governments, individuals and businesses to cope withthe changing scenarios after the pandemic.

India underscored that the digital economy is changing the world of work, hence regular studies bythe BRICS Network Research Institutes will facilitate a better understanding of the aspects of futureof work and supplement policymaking.

India is committed to eradicate poverty and promote prosperity in a changing world and henceadopted a multi-dimensional strategy to eliminate poverty by covering most of the basic servicesand fulfil the Sustainable Development Goals of No Poverty (SDG-1).

12

21


Page |

Initiatives Highlighted by India Occupational Safety, Health and Working Conditions Code Bill, 2020: Provides a dynamic and effective framework of occupational safety and health at the workplace and

covers legal provisions of all sectors. Envisages safety standards for different sectors, focusing on the health and working condition of

workers, hours of work, leaves, etc.Social Security Code Bill, 2020: Universalises social security coverage to those working in the unorganised sector, such as migrant

workers, gig workers and platform workers. Recognises emerging forms of work by defining terms like an aggregator, gig worker and platform

worker, and extends social protection to such workers through a separate Social Security Fundwherein the contribution from aggregators would be deposited.

Provisions of social security will also be extended to agricultural workers.Industrial Relations Code Bill, 2020: Sets up Grievance Redressal Committees for resolution of disputes arising out of employees’

grievances. Also sets up a reskilling fund to help skill retrenched workers.

Pradhan Mantri Kisan Samman Nidhi: Provides direct income support to farmers for easing their liquidity needs to facilitate timely access

to inputs. Aiding modernisation and makes farmers competitive.

Atmanirbhar Bharat Abhiyaan: Protects the economy from the adverse impact of the Covid-19 crisis. Measures include opening a credit line for micro, small and medium enterprises to meet their

operational expenses, subsidising the social security contributions of workers, extendingunemployment benefit to workers, financial assistance to construction workers, collateral-freeworking capital loan to approximately 5 million street vendors, etc.

Other Related Schemes: National Rural Employment Guarantee Scheme. National Livelihood Mission.

Way Forward All countries need to work together in finding feasible and sustainable solutions to the issues and

challenges faced by the future of the labour force in the digital economy so that everyone can getthe flexible employment opportunities without compromising the fundamental rights.

Sovereign Gold Bond SchemeA seventh tranche of the gold bond scheme - in which the Reserve Bank of India (RBI) issues bonds linkedto the market price of gold on behalf of the government - will be available for investment on five daysstarting 12th October, 2020.Key Points

Launch: The Sovereign Gold Bond (SGB) scheme was launched in November 2015 with anobjective to reduce the demand for physical gold and shift a part of the domestic savings - used forthe purchase of gold - into financial savings.

Issuance: The Gold Bonds are issued as Government of India Stock under the GovernmentSecurities (GS) Act, 2006.

These are issued by the RBI on behalf of the Government of India. Bonds are sold through Commercial banks, Stock Holding Corporation of India Limited (SHCIL),

designated post offices (as may be notified) and recognised stock exchanges viz., National StockExchange of India Limited and Bombay Stock Exchange, either directly or through agents.

Eligibility: The bonds are restricted for sale to resident individuals, Hindu Undivided Families(HUFs), trusts, universities and charitable institutions.

Features: Issue Price: The price of the gold bonds is calculated based on the spot price of gold as provided

by the Mumbai-based India Bullion and Jewellers Association (IBJA). For the seventh tranche, a price of Rs. 5,051 per unit is applicable. Those purchasing the bonds

through an online mode - using a digital mode of payment - get a discount of Rs. 50 on each unit. Investment Limit: Gold bonds can be purchased in the multiples of one unit, up to certain

thresholds for different investors. The upper limit for retail (individual) investors and HUFs is 4 kilograms (4,000 units) each per

financial year. For trusts and similar entities, an upper limit of 20 kilograms per financial year isapplicable.

22


| Page

Minimum permissible investment is 1 gram of gold. Term: The gold bonds come with a maturity period of eight years, with an option to exit the

investment after the first five years. Interest Rate: A fixed rate of 2.5% per annum is applicable on the scheme, payable semi-annually. The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961.

Benefit: Bonds can be used as collateral for loans. The capital gains tax arising on redemption of SGB to an individual has been exempted. Redemption is the act of an issuer repurchasing a bond at or before maturity. Capital gain is the profit earned on the sale of an asset like stocks, bonds or real estate. It results in

when the selling price of an asset exceeds its purchase price.

Third Assembly of ISARecently, India and France have been re-elected as the President and Co-President of the International SolarAlliance (ISA) for a term of two years at the virtual third Assembly of ISA. The first two assemblies were held in India in 2018 and 2019.

Key Points The Assembly approved institutionalising ISA’s engagement with the private and public corporate

sector through the Coalition for Sustainable Climate Action (CSCA). Various solar awards were conferred on countries as well as institutions.

The Visvesvaraya award recognises the countries with a maximum floating solar capacity in each of the fourregions of ISA, which are: Asia Pacific Region. Africa Region. Europe and others Region. Latin America and Caribbean Region.

The Kalpana Chawla award for outstanding contribution of scientists and engineers working in the field of solarenergy. The Diwakar award recognises organisations and institutions that have been working for the benefit of

differently-abled people and have maximised the use of solar energy in the host country. The Assembly was presented the report prepared by the World Resources Institute (WRI) which

identifies the sources of funds, opportunities and constraints, in scaling up solar investments and thecontribution of ISA in assisting Member countries.

The ISA will work with WRI to develop a roadmap for mobilisation of USD 1 trillion by 2030. In the wake of the global pandemic, ISA responded by setting up ISA CARES (like PM-CARES in

India), an initiative dedicated to the deployment of solar energy in the healthcare sector. The initiative aims to solarize one primary health sector in each district of the target member countries. The ISA Secretariat has launched a Seventh Programme on Solarising Heating and Cooling systems. Demand for cooling alone outpaced solar deployment in 2017. Heating and cooling systems have scope to directly convert solar radiation and at higher efficiency

levels. SAARC Development Fund’s technical assistance along with the ISA Technical Assistance is

proposed to be implemented jointly with the Asian Development Bank. The ISA has recently signed a tripartite agreement with the World Bank and the Government of India

and is now actively involved in preparing a vision and implementation plan for “One Sun, One World,

13

23


Page |

One Grid” Initiative to harness the power of interconnected grids for enabling energy transition to alow-carbon world.

India’s Perspective and Highlights: The President of the ISA Assembly, India’s Power and New and Renewable Energy Minister

appreciated the Alliance Members coming together to work for combating climate change. He also highlighted various activities and programmes initiated by ISA since the 2nd Assembly like

the development of a pipeline of more than USD 5 billion, aggregated demand for more than 270,000solar pumps across 22 countries, etc.

France’s Role: France has committed 1.5 billion Euros for financing solar projects in ISA member states up until 2022. The first project under the Solar Risk Mitigation Initiative (SRMI) is being launched in Mozambique

with the support of France and the European Union (EU). SRMI will help mobilise billions in private investment to finance more than 10 GWs of solar projects. In the frame of the ISA’s Solar Technology Application Resource Centre (Star-C) programme, the

French National Institute for Solar Energy (INES) will launch a specific program for the small islandstates of the Pacific.

International Solar Alliance It is an Indian initiative that was launched by the Prime Minister of India and the President of France

on 30th November 2015 in Paris, France on the side-lines of the Conference of the Parties (COP-21),with 121 solar resource-rich countries lying fully or partially between the tropic of Cancer and tropicof Capricorn as prospective members.

Objective: To collectively address key common challenges to the scaling up of solar energy in ISAmember countries.

Members: Till now, 87 countries have signed the Framework Agreement of the ISA and of these 67have deposited their instruments of ratification.

Nicaragua, a Central American country is the 87th and the latest country to sign the agreement. The Government of India has allotted 5 acres of land to the ISA in National Institute of Solar Energy

(NISE) campus, Gurugram and has released a sum of Rs. 160 crore for creating a corpus fund, buildinginfrastructure and meeting day to day recurring expenditure of the ISA up to the year 2021-22.

India and it’s Sex RatioRecently, C Rangarajan (former Chairman, Prime Minister’s Economic Advisory Council) argued that there is anurgent need to reach young people both for reproductive health education and services as well as to cultivategender equity norms. His arguments are based on the Sample Registration System (SRS) Statistical Report (2018) and United

Nation Population Fund (UNFPA) State of World Population 2020.SRS Report SRS is the largest demographic sample survey in the country that among other indicators provide direct

estimates of sex ratio, fertility rate etc. through a nationally representative sample. It is brought by the Office of Registrar General.

United Nation Population Fund The UNFPA is aimed at improving reproductive and maternal health worldwide. It is headquartered in

New York.Key PointsSex Ratio at Birth:

14

24


| Page

Biologically normal sex ratio at birth is 1,050 males to 1,000 females or 950 females to 1,000 males. The SRS Report 2018 shows that sex ratio at birth in India, declined marginally from 906 in 2011 to

899 in 2018. Sex ratio is measured as the number of females per 1,000 males. The UNFPA State of World Population 2020 estimated the sex ratio at birth in India as 910, which is on

the lower side of index. This is a cause for concern because this adverse ratio results in a gross imbalance in the number of men

and women and its inevitable impact on marriage systems as well as other harms to women.Total Fertility Rate (TFR): According to SRS Report 2018, TFR has been declining in India for some time now. It declined from

2.4 to 2.2 during the period between 2011 and 2018. In 2011, 10 states had a fertility rate below the replacement rate. This increased to 14 states in 2020. Fertility is likely to continue to decline and it is estimated that replacement TFR of 2.1 would soon be

reached for India as a whole. TFR is the number of children a mother would have at the current pattern of fertility during her lifetime. Replacement rate is the average number of children born per woman—at which a population exactly

replaces itself from one generation to the next, without migration. Many people believe that the population would stabilise or begin to reduce in a few years once

replacement fertility is reached. However, this is not so because of the population momentum effect, a result of more people entering the

reproductive age group of 15-49 years due to the past high-level of fertility. For instance, the replacement fertility level was reached in Kerala around 1990, but its annual

population growth rate was 0.7% in 2018, nearly 30 years later.Challenges Involved: Regressive Mindset: There is considerable son preference in all states, except possibly in Kerala and

Chhattisgarh. This son’s preference is derived from a regressive mindset. E.g.: People associate girlswith dowry.

Misuse of Technology: Cheaper technology like ultrasound helps in sex selection. Failure in Implementation of Law: The Prenatal Conception and Prenatal Determination Act (PC-

PNDT), 1994 which punishes healthcare professionals for telling expectant parents the sex of a childwith imprisonment and hefty fines, has failed to control the sex selection.

Reports found major gaps in the training of personnel implementing PC-PNDT. Poor training meant thatthey were unable to prepare strong cases against violators to secure convictions.

Illiteracy: Illiterate women in the reproductive age group of 15-49 years have higher fertility thanliterate women.

Government Initiative- Beti Bachao Beti Padhao Scheme: The sharp decline in sex ratio as pointed by Census 2011 data called for urgent action. Beti Bachao Beti

Padhao Scheme was launched in 2015 in Panipat, Haryana to address the issue of decline in child sexratio and related issues of empowerment of girls and women over a life cycle continuum.

It is a triministerial effort of the ministries of Women and Child Development, Health & FamilyWelfare and Human Resource Development (now Ministry of Education).

Suggestions Made: Increasing female education and economic prosperity will help to improve the ratio. Rollout campaigns on sensitisation towards women and children, making women safety cells, ensuring

the safety of women on public transport systems, making cyber-crime cells are some other initiativesthat need to be taken.

In view of the complexity of son preference resulting in gender-biased sex selection, governmentactions need to be supplemented by improving women’s status in the society.

Reaching out to young people could reduce the effect of population momentum and accelerate progresstowards reaching a more normal sex-ratio at birth.

Way Forward Despite several policies and programmes, lower health outcomes for women and girl children still

persist in India. Certain forms of discrimination, especially the son preference, reinforced by the techno-economic forces are eliminating the girl child (even from the womb).

Effective implementation of the existing women- and children-related policies, including women'sproperty ownership, are required to empower women, to ensure girl child's survival, and to reducegender gap in access to healthcare.

25


Page |

Global Hunger Index 2020 India has been ranked at 94 among 107 countries in the Global Hunger Index (GHI) 2020.

Global Hunger Index Annual Report: Jointly published by Concern Worldwide and Welthungerhilfe. It was first produced in 2006. It is published every October. The 2020 edition marks the 15th edition

of the GHI. Aim: To comprehensively measure and track hunger at the global, regional, and country levels. Calculation: The GHI scores are calculated each year to assess progress and setbacks in combating

hunger. It is calculated on the basis of four indicators: Undernourishment: Share of the population with insufficient caloric intake. Child Wasting: Share of children under age five who have low weight for their height, reflecting

acute undernutrition. Child Stunting: Share of children under age five who have low height for their age, reflecting chronic

undernutrition. Child Mortality: The mortality rate of children under the age of five.

Scoring: Based on the values of the four indicators, the GHI determines hunger on a 100-point scale where 0 is

the best possible score (no hunger) and 100 is the worst. Each country’s GHI score is classified by severity, from low to extremely alarming.

Key PointsGlobal Scenario: Worldwide Hunger: Represented by a GHI score of 18.2 (moderate level), down from a 2000 GHI

score of 28.2 (serious).Factors: The Covid-19 pandemic and the resulting economic downturn, as well as a massive outbreak of

desert locusts in the Horn of Africa and other crises, are exacerbating food and nutrition insecurity formillions of people.

It needs to be noted that 2020 GHI scores do not reflect the impact of Covid-19 on hunger andundernutrition.

The above mentioned crises come on top of existing hunger caused by conflict, climate extremes, andeconomic shocks (random, unpredictable events).

Region-wise Performance: Africa South of the Sahara and South Asia have the highest hunger andundernutrition levels among world regions, with 2020 GHI scores of 27.8 and 26.0, respectively—both considered serious.

SDG 2 Progress: The world is not on track to achieve the second Sustainable Development Goal -known as Zero Hunger for short - by 2030.

Indian Scenario:Overall Performance: With a score of 27.2, India has a level of hunger that is “serious”. It ranks 94 out of 107 countries in the Index. In 2019, India’s rank was 102 out of 117 countries.

Comparison with Other Countries: India features behind Nepal (73), Pakistan (88), Bangladesh (75), Indonesia (70) among others. Out of the total 107 countries, only 13 countries fare worse than India including countries like

Rwanda (97), Nigeria (98), Afghanistan (99), Liberia (102), Mozambique (103), Chad (107) amongothers.

15

26


| Page

Performance on the Indicators: Undernourishment: 14% of India’s population is undernourished (2017-19). It was 16.3% during

2011-13. Child Wasting: 17.3% (2015-19), it was 15.1% in 2010-14. Child Stunting: 34.7%, it has improved significantly, from 54% in 2000 to less than 35% now. Child Mortality: 3.7%, it was 5.2% in 2012.

Some Related Initiatives by India Eat Right India Movement: An outreach activity organised by the Food Safety and Standards

Authority of India (FSSAI) for citizens to nudge them towards eating right. POSHAN Abhiyaan: Launched by the Ministry of Women and Child Development in 2018, it targets

to reduce stunting, undernutrition, anemia (among young children, women and adolescent girls). Pradhan Mantri Matru Vandana Yojana: A centrally sponsored scheme executed by the Ministry of

Women and Child Development, is a maternity benefit programme being implemented in all districtsof the country with effect from 1st January, 2017.

Food Fortification: Food Fortification or Food Enrichment is the addition of key vitamins andminerals such as iron, iodine, zinc, Vitamin A & D to staple foods such as rice, milk and salt toimprove their nutritional content.

National Food Security Act, 2013: The National Food Security Act, (NFSA) 2013 legally entitled upto 75% of the rural population and 50% of the urban population to receive subsidized food grainsunder the Targeted Public Distribution System.

Mission Indradhanush: It targets children under 2 years of age and pregnant women for immunizationagainst 12 Vaccine-Preventable Diseases (VPD).

Integrated Child Development Services (ICDS) Scheme: Launched on 2nd October, 1975, theIntegrated Child Development Services (ICDS) Scheme offers a package of six services(Supplementary Nutrition, Pre-school non-formal education, Nutrition & health education,Immunization, Health check-up and Referral services) to children in the age group of 0-6 years,pregnant women and lactating mothers.

Suggestions Governments, private actors, and NGOs should carefully coordinate their responses to overlapping

food and health crises and work with community organizations to make sure interventions areculturally acceptable, reach the most vulnerable, and preserve local ecosystems.

Food should be priced not only by its weight or volume but also by its nutrient density, its freedomfrom contamination, and its contribution to ecosystem services and social justice.

Governments should expand access to maternal and child health care, as well as education on healthydiets and child feeding practices.

Supporting smallholder farmers in becoming sustainable and diversified producers; governments andNGOs must seek to improve those farmers’ access to agricultural inputs and extension services,coupling local and indigenous agricultural knowledge with new technologies.

Existing human rights-based multilateral mechanisms and international standards—such as theCommittee on World Food Security—must be strengthened to support inclusive policy making andsustainable food systems.

27


Page |

28


| Page

ECONOMYRBI IN NEWSRBI’s 3rd Bi-Monthly Monetary Policy Statement 2020-21 Released Reserve Bank of India (RBI) governor Shaktikanta Das has announced crucial policy decisions at the

Bank’s 3rd bi-monthly monetary policy. The repo rate under the liquidity adjustment facility (LAF) has been kept unchanged at 4.00%. The reverse repo rate under the LAF has been kept unchanged at 3.35%. The marginal standing facility (MSF) rate and the Bank Rate have been kept unchanged at 4.25%. The Reserve Bank of India (RBI) will introduce on-tap targeted long-term repo operations (TLTRO) for

banks to borrow up to Rs 1 trillion from the window and invest in corporate bonds and other debtinstruments of certain sectors. The on-tap TLTROs will have tenors of up to three years at a floating ratelinked to the policy repo rate and the scheme will be available up to 31 March 2021.

Real GDP growth is expected to be negative. The RBI’s MPC has pegged the real GDP growth for FY21 tocontract by 9.5%.

The MPC maintained its accommodative stance to ensure inflation remians close ot its target of 2%-6%.GOI Appoints Ashima Goyal, Jayanth R Varma & Shashanka Bhide as RBI’s MPC membersThe Government of India has appointed three new economists as members of the six-member rate-settingMonetary Policy Committee(MPC) of the Reserve Bank of India(RBI) on 5th October 2020.Government had formed a committee for selection of these three new members of MPC. This search-cum-selection committee for MPC was headed by Economic Affairs Secretary Tarun Bajaj.As per the RBI Act, the three new external members would have four-year terms.The new members are:Prof. Ashima Goyal, a professor at the Mumbai-based Indira Gandhi Institute of Developmental ResearchProf. Jayanth R Varma, a professor of finance at the Indian Institute of Management in AhmedabadDr. Shashanka Bhide, an agricultural economist and a senior adviser with the National Council of AppliedEconomic Research in New DelhiThey replaces the three previous external MPC candidates, Chetan Ghate, Ravindra Dholakia and Pami Dua,whose terms expired with the last policy meeting in August 2020.It must be noted that the MPC committee of RBI comprises six members which includes three officials of theReserve Bank of India and three external members nominated by the Government of India.The three members from RBI Side are Dr. Mridul K. Saggar, Dr. Michael Debabrata Patra and ShriShaktikanta Das.Governor of RBI is the exofficio Chairman of MPC.RBI set to change India's payments picture with new QR code rules The Reserve Bank barred Payment System Operators (PSOs) from launching any new proprietary QR code

for payment transactions and asked them to switch to at least one interoperable QR code, so that the sameQR code can across multiple payment applications.

PSOs that use proprietary QR codes shall shift to one or more interoperable QR codes; the process ofmigration shall be completed by March 31, 2022

RBI’s latest directive is to improve the digital payment infrastructure in the country. QR codes are two-dimensional machine-readable barcodes, which are increasingly used to facilitate mobile

payments at the point-of-sale. QR codes can store a large amount of information. Japanese company, DensoWave, invented the QR code in the 1990s.

RTGS to run 24x7 from December To facilitate swift and seamless payments in real-time for domestic businesses and institutions, it has been

decided to make available the RTGS system round the clock on all days from December 2020. India will beamong very few countries globally with a 24x7x365 large value real-time payment system.

At present, RTGS is not a 24x7 system and is available on all days when most bank branches arefunctioning, including S

Documents

Vanik’s Current Affairs...Kohala hydropower Project. Azad Pattan Hydel Power Project. India's Stand: India has held that the Government of Pakistan or its judiciary has no locus