20-Feb-2024
#GS2 –01. Electoral Democracy
We are “deeply concerned” that horse-trading is taking place. As the returning officer, Masih was “only supposed to sign” the ballot papers. “Under which rule were you given the power to put X mark on ballot papers?” Interfering with an election process is the “gravest violation”.
– Supreme Court (CJI DY Chandrachud)
Key Terms/Issues : Horse Trading, Ballot Tampering
#GS1 — 02. Bharat Ratna Chaudhary Charan Singh
Honouring the “messiah of farmers” and “UP’s son” Chaudhary Charan Singh with Bharat Ratna was akin to honouring crores of farmers and labourers. He hated political deal making. But what is sad is that many parties of UP who did politics in his name never adhered to what he said. What he did for small farmers, the country can never forget. Today inspired by him, we are continuously empowering the farmers.
– PM Modi
#GS2 –03. Impact of Israel Hamas war on Israeli Economy
Israel’s economy suffered one of its worst-ever slumps, after the Hamas war paralysed businesses, forced people to flee their homes and caused the military to call up hundreds of thousands of reservists. Israeli GDP shrank an annualized 19.4% in the final three months of 2023, in seasonally-adjusted terms.
– Commentary in News
#GS4 — 04. Misuse of Power
The arrest of ICICI Bank’s former managing director Chanda Kochhar and her husband Deepak Kochhar by the Central Bureau of Investigation (CBI) was made without application of mind and amounted to abuse of power.
-MoS MEiTY Rajeev Chandra Shekhar
#GS3 — 05. Farmer’s demand for MSP
Farmers from Punjab and Haryana want the government to make support prices for 23 crops a legal entitlement. One view is that enforcing a minimum price can impose a heavy burden on government finances. Others believe it would support farmer income and push consumption demand.
But a legal MSP can drive private buyers away. During a glut, traders may be unwilling to pay farmers a premium. The government proposed to purchase oil seeds, pulses and cotton grown by Punjab farmers at MSP for the next five years. But,the proposal was rejected by farmer leaders.
– Commentary in News
#GS4 –06. Authenticity
The difference between successful and not-so-successful organizations eventually boils down to the degree of authenticity within them. This is the delta between what leaders profess and what the organization’s unsaid behavioural expectation is. Here are some examples.
Almost every organization proclaims how it values its employee’s mental health, physical well-being and family time, and yet many actually reward supposed workaholics who are at work regardless of hours or weekends. It is now a scientifically proven fact that multi-tasking or doing more than one demanding job simultaneously is sub-optimal, and yet, multi-taskers who are apparently juggling several balls are lauded as heroes. Similarly, it has been established that eight hours of sleep is essential for good health and cognitive sharpness especially in critical decision-making. Indeed, every hour of sleep deprivation from the eight is supposed to be the equivalent of having a drink of alcohol.While an employee would probably get fired for being drunk on duty, leaders who work 16-hour days are routinely extolled. Elaborate ‘Delegation of Authority’ documents are periodically crafted and issued. But on the ground, there is dilution of power and diffusion of decision-making.While there are constant proclamations of desired qualities like ‘agility’ and an ‘ownership mindset’, actual processes are becoming excruciatingly twisted and the ability to take initiative increasingly corralled. On one hand, there are declarations on the virtues of ‘collaboration’ and ‘one team,’ etc, but appraisal mechanisms pit one colleague against the other infratricidal bell curves.
–National Intelligence Grid Former CEO Raghu Raman
Key Terms/Issues : Authenticity, Delegation of Authority, Ownership Mindset, Agility
#GS3 07. Sovereign Ratings
India will likely retain its position as the fastest-growing large economy for the third successive year in 2024-25. Besides price stability, which has been achieved even under difficult global conditions, the post-covid fiscal rollback has been smooth because there were few cash giveaways. The upward adjustment of the monetary policy rate was done smoothly; it did not upset India’s growth momentum, unlike in the west, where higher policy rates are going against growth. India is receiving high foreign direct investment. Foreign portfolio investor interest too is high, given this year’s inclusion of Indian government bonds in the JP Morgan Bond index for emerging markets. Investors are more than eager to put their money on the table when it comes to India. Yet, our credit rating remains on the precipice of just about being investment grade. Clearly, something is amiss. There is a consensus that there needs to be more competition in the credit rating space post-Lehman. But progress has been limited, even though attempts have been made by agencies in different countries to form new outfits based on partnerships. Sovereign ratings are still the hallowed domain of the Big Three ratings companies.
– BoB Chief Economist Madan Sabnavis
Key Terms/Issues : Credit Rating, Lehman Crisis