GS Paper I- Indian Heritage and Culture.

Venkaiah Naidu To Inaugurate World Conference On Vedas In Delhi.

Background-

  • The Vice-President of India, Shri M. Venkaiah Naidu has said that the Vedas preach world peace, universal brotherhood and welfare of all.
  • Inaugurating the World Conference on Vedas, “Vishwa Ved Sammelan”, at the Indira Gandhi National Centre for Arts (IGNCA) on 15th December, 2017, he said the Vedas have great relevance to humanity. The Yajurveda mentions that the knowledge of Vedas is meant for the well-being of the entire humanity. The Vedas do not refer to any caste or community, he added.
  • The three-day ‘Vishwa Ved Sammelan’ will have in-depth discussions on de-mystifying various myths and fallacies surrounding the Vedas and Manu Smriti, he said.

Highlights Of The Development–

  • The valedictory function of the conference is being attended by former president Pranab Mukherjee. The event will witness daily ‘havan’ ritual amid chanting of the Vedic hymns by Muslim women to showcase that the ancient scriptures are available for the whole mankind to derive its benefits, Swami Agnivesh said.
  • Fifty one couples having interfaith and intercaste marriages will be felicitated during the event, he said.
  • A special session on the World Parliament and endorsement of the Constitution for the Federation of Earth, and Veda, the United Nation’s Sustainable Development Goals (SDGs) and declaration on human rights will be other salient features of the conference.
  • Underlining that the Vedas are the earliest works of ancient knowledge and philosophy in India, the Vice President said our civilization, culture, thoughts and philosophy are rooted in the Vedas. He said the Vedas are the source of knowledge and guide us to advance in economic, social, educational and political fields and also in maintaining high moral and ethical standards.
  • The Vedic philosophy states that truth, non-violence, patience, penance and spiritual uplift are the foundations of a human life. Vedas convey the message of religious harmony, equality and nation’s progress. Quoting the Rigveda, Verse 5.60.5, Shri Venkaiah Naidu said no individual in the society is either big or small, according to Vedas.
  • The Vice President said Maharishi Dayanand Saraswati, the builder of modern India and Founder of Arya Samaj, had given the message “Back to the Vedas” to the world. This has been endorsed by the renowned Orientalist, Max Mueller. Renowned philosopher and Nobel Laureate Maurice Maeterlinck had said the Vedas are the only and incomparable source of all knowledge.

Sources- NDTV, India Education Diary.

 

GS Paper II- International Relations.

India To Host 3rd Annual Meeting Of Board Of Governors Of AIIB.

Background

  • India will host the 3rd annual meeting of the Board of Governors of Asian Infrastructure Investment Bank (AIIB) at Mumbai on June 25-26 next year (2018).
  • The theme of the meeting will be ‘Mobilizing Finance for Infrastructure: Innovation and Collaboration’, the statement further said.
  • The MoU was signed by joint secretary (multilateral institutions division) in the Ministry of Finance Sameer Kumar Khare on behalf of the government of India and AIIB’s vice- president and corporate secretary Danny Alexander.

 

Highlights Of The Development-

  • According to the statement, speaking on the occasion, Department of Economic Affairs Secretary Subhash Chandra Garg said it is a significant development that India is to host the 3rd annual meeting of AIIB at Mumbai.
  • Garg also noted that this international event will provide an excellent opportunity to showcase the strengths of the Indian economy and introduce AIIB members to potential infrastructure investment opportunities in India and Asia.
  • The statement also quoted Alexander as saying that India is central to delivering on the Bank’s mandate to support the sustainable economic development of Asia through investment in Infrastructure.
  • He also said that AIIB looks forward to continuing to work with the Indian Government and India’s business community to further develop solutions to fund vital sustainable infrastructure projects across the country.
  • Annual meeting related seminars would also be organized in some Indian cities like Delhi, Kolkata, Guwahati, Hyderabad, Chennai, Bangalore & Vishakhapatnam etc prior to the main annual meeting.
  • Headquartered in Beijing, China, AIIB is a multilateral development bank and it commenced operations in January 2016.
  • India is one of the founding members of AIIB and is also the 2nd largest shareholder in AIIB.

Sources- TOI.

 

GS Paper III- Economic Development.

14th Inclusive Finance India Summit Begins In New Delhi.

Background

  • The 14th Inclusive Finance India Summit began in New Delhi on 11th December, 2017 to build consensus on strategies and a unified vision for achieving universal financial inclusion in India.
  • The summit offers a platform for a plethora of information to all the thought leaders and industry veterans to debate and discuss the issues and challenges involving the Financial Inclusion in the country.
  • The summit witnessed the release and presentation of the Inclusive Finance India Report, which provides an insightful analysis and an honest critique of the financial inclusion progress during the course of the year.

Highlights Of The Development-

  • Dr. C. Rangarajan, Former Governor, RBI said in his inaugural address that financial inclusion is not an option but a compulsion highlighting the importance and need for financial inclusion in the country.
  • Amitabh Kant, CEO, Niti Aayog also suggested in a discussion that Direct Benefit Transfer and UPI will create a vast trail of data and will allow data analysis leading to an extension of credit to the unbanked sector.
  • Credit is only one element of creating a viable scheme for India’s vulnerable. Therefore, a multi-dimensional approach is required to pull them out of the vicious circle of poverty, he said.
  • A book- ‘Talking financial inclusion in liberalized India: Conversations with Governors of the RBI’, edited by Prof. MS Sriram was released during the inaugural session.
  • HR Khan, Former Governor, RBI who was also attending the summit emphasized on the huge gap in the inclusion of the agriculture sector. Adding to the same, he said that credit dimension for Agriculture and MSMEs is crucial and technology must focus on addressing this concern.
  • The two day summit divided into 17 sessions saw the participation of 90 leaders from across the world who discussed, deliberated and debated on the evolution of financial inclusion in the country highlighting the various trends and challenges.

Sources- ANI.