9 Jan 2024

#GS2: – 01. Trade Risks in Red Sea

The Gaza war was always threatening to snowball in to a wider nightmare for the global economy,and recent events in the Red Sea indicate just that. Attacks by Yemen’s Houthimilitants on commercial shipping vessels, ostensibly in a show of support for Palestine,threaten to disrupt global supply chains and increase prices of key commodities, fuel in particular. Needless to say, India cannot remain insulated from the knock-on effects. The Red Sea, which starts from the Bab-el-Mandeb Strait and leads into the Suez Canal,offers the fastest sea route connecting Asia with Europe and the eastern coast of North America. Alternative routes that shipping companies are now taking Are longer and costlier. Petroleum,basmatirice, automobile components,machinery,chemicals, plastics,ready-made garments and footwear are among the items that trade bodies say are likely to be impacted among those most import ant to India. A delay in securing timely supplies and higher costs of transporting goods could stoke fresh inflation ary pressures for the economy.
– Union Health Ministry
Key Terms/Issues : Bab-el-Mandeb, Suez Canal, Red Sea, Houthis, Yemen

#GS3: –  02. Food Subsidy

While the food subsidy allocation for 2023-24 was ₹1.97 trillion, the outgo in the current fiscal has already crossed ₹2 trillion.

“I think there may be a 10% increase in the total food subsidy bill next year”,considering the hike in minimum support price(MSP),extension of Pradhan Mantri Garib Kalyan Anna Yojana (PM-GKAY) and other Costs involved.

This will require the department to procure 40.8 million tonnes of rice every year beyond building the buffer stock.
– Union food and public distribution secretary Sanjeev Chopra

#GS2: – 03. Inland Waterways

₹45,000 crore investment to Develop river cruise tourism, aiming to leverage India’s inland waterways for economic growth. This investment includes ₹35,000 crore forcruise vessels and ₹10,000 crore for cruise terminal infrastructure by2047.
– Ministry of ports,shipping, and waterways

Note : IWDC’s goal of sustainable development for At manirbhar Bharat. The plan includes expanding river cruise tourism from eight to 26 waterways and increasing cruise circuits with night stays from17 to 80.The number of river cruise terminals is set to rise from15to185, giving a significant boost to cruise tourismtrafficby2047.

To enhance inland water ways for cargo trade,a ₹15,200 Crore investment was agreed at the Global Maritime India Summit (GMIS) held in Mumbai in October last year. This investment is expected to fuel a growth rate exceeding 400%,boosting volume stoup to 500 million tonnes per annum (MTPA) of cargo by 2047.

‘Harit Nauka’ guidelines and ‘River Cruise Tourism Roadmap, 2047’ at the IWDC outline over30potential Cruise routes,and includes an action plan for river cruise development. Aligned with the Maritime India Vision 2030 and Maritime Amrit KaalVision2047, The initiatives aim to increase the modal share of inland water way transportation from 2% to 5%.

Key Terms/Issues : Harit Nauka guidelines, River Cruise Tourism Roadmap, Maritime India Vision 2030, Amritkaal Vision 2047

#GS3: –  04. Thalinomics

The price of a vegetarian thali fell 3% to ₹29.7 last month,while non-vegetarian thalis saw a 5% decline to ₹57.6.

A typical vegetarian thali includes roti, vegetables (onion, tomato, potato), rice, dal, curd and salad. The non-vegetarian version Has chicken(broiler)instead of dal.

The drop in the vegetarian thali’s cost to a 14% and 3% decrease in onion and tomato prices, respectively, as festive demand waned.
-CRISIL
Key Terms/Issues : Thalinomics

#GS1: – 05. Crimes against women

Whether “heinous crimes against women permit remission” whatever faiths he may follow or creed She may belong to. We strike down the remission orders on the Ground of usurpation of power by Gujarat government.
The Gujarat government was not the appropriate government to pass the remission order. We need not have gone into the other issues.But for sake of completion,we have.Rule of law is breached because the Gujarat government usurped power not vested in it and abused its power.On that ground also,the remission orders deserve to be quashed.

13May2022order was obtained by “playing fraud on the court” and by suppressing material facts.

Key Terms/Issues : Remission, Rule of Law

– Supreme Court

#GS2: – 06. India-UAE CEPA

Having entered in to force only18 months ago, the Comprehensive Economic Partnership Agreement (CEPA) has catapulted the United Arab Emirates-India relationship to new heights.

Not only has it expanded market access For Emirati and Indian businesses seeking To enter each other’s respective markets,it has also significantly decreased tariffs, streamlined customs procedures and introduced a series of robust and transparent regulations that support rules-based competition. Over the course of the past year, the United Arab Emirates has risen to the position of India’s fourth-largest investor, third- largest trading partner and second-largest export destination, further under lining the transformative influence of the CEPA.This collaborative spirit extends to various sectors, mainly the field of aviation, which is key to nurturing and consolidating trade, investment and cultural ties.

– UAE ambassador to India Abdul Nasser Alshaali