1. STRATEGIC CANAL VISION (Syllabus: GS Paper 1 – Geography)

Context: Recently, there has been speculation that Israel's efforts to eliminate Hamas from the Gaza Strip are driven, in part, by a desire to create conditions conducive to exploring a significant economic opportunity that has been discussed for several decades. 

• The concept involves constructing a canal through Israel's Negev Desert, connecting the Gulf of Aqaba to the Eastern Mediterranean as an alternative to the Egyptian-controlled Suez Canal, potentially reshaping regional trade routes. 
• This ambitious project aims to enhance economic opportunities while bypassing the traditional route through the Sinai Peninsula.

Mediterranean Sea

• About: The Mediterranean Sea, situated between Europe, Africa, and Asia, is a substantial water body.
• Link: Atlantic Ocean through the Strait of Gibraltar and connects to the Red Sea via the Suez Canal.
• Encompassing a variety of countries and regions such as Southern Europe, North Africa, and the Middle East, the Mediterranean Basin exhibits geographical diversity.
• Bordering Countries: Albania, Algeria, Bosnia and Herzegovina, Croatia, Cyprus, Egypt, France, Greece, Israel, Italy, Lebanon, Libya, Malta, Monaco, Montenegro, Morocco, Slovenia, Spain, Syria, Tunisia, and Turkey.

Red Sea 

• About: The Red Sea, a partially enclosed marginal sea, is a seawater inlet of the Indian Ocean situated above the Red Sea Rift, a component of Africa's Great Rift Valley.
• Bordering Countries: Djibouti, Egypt, Saudi Arabia, Sudan, Eritrea, and Yemen.

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2. RETAIL INFLATION (Syllabus: GS Paper 3 – Economy)

Context: Recently, India witnessed a decline in retail inflation, as the inflation rate dropped to a four-month low of 4.87% in October, down from just over 5% in September, demonstrating a notable moderation in the rise of vegetable prices to 2.7% from 3.4%.

Inflation

• About: Inflation happens when the cost of things goes up in an economy, which makes it harder for people to buy stuff and reduces the value of the money they have.
• Measured By: Ministry of Statistics and Programme Implementation.
• Inflation tracks how the prices of a collection of goods and services change on average as time passes.
• Two main sets of inflation indices: The Wholesale Price Index (WPI) and the Consumer Price Index (CPI).
• Rural, Urban Inflation: Inflation faced by rural consumers eased from 5.33% in September to 5.1%, but urban households saw a fractional increase in inflation at 4.65%.

Retail Inflation

• About: It is also known as Consumer Price Index (CPI) inflation, which is the speed at which prices of items people purchase for their personal needs go up over a period.

o It checks how much the cost changes for a set of items that families usually get, like food, clothes, homes, transport, and medical help.

• Also known as: Consumer Price Index (CPI) in India and the Monetary Policy Committee (MPC) uses CPI data to control inflation.

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3. ASIAN DEVELOPMENT BANK (Syllabus: GS Paper 3 – Economy)

Context: Recently, the Government of India sealed a groundbreaking deal, signing a $400 million policy-based loan with the Asian Development Bank (ADB) to bolster its urban reform agenda, focusing on enhancing urban infrastructure, elevating service delivery, and fostering efficient governance systems.

Asian Development Bank (ADB)

• Formation: 1966.
• Objective: It envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty in the region.
• Headquarters: Manila, Philippines.
• Members: 68 members including India, China, and Pakistan.
• The bank admits the members of the UN Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE), and non-regional developed countries.
• Largest capital contribution and voting rights: Japan and the United States (have equal and largest)>China>India>Australia.

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4. PLASTIC POLLUTION (Syllabus: GS Paper 3 – Env and Eco)

Context: Recently, the Organisation for Economic Co-operation and Development (OECD) released an interim report revealing that a staggering 21 million tonnes (MT) of plastics leaked into the environment globally in 2022.

Key Points of Report

• The report went on to suggest that the largest costs (as a share of GDP) of ambitious global action are projected for fast-growing countries with less advanced management systems.
• The document raised concerns that despite increasing urgency to lower plastic pollution, current policies to stem plastic flows have proven to be insufficient.

Plastic Pollution

• Plastic Waste: According to the UN Environment Programme (UNEP), out of the 9.2 billion tonnes of plastic produced from 1950 to 2017, approximately 7 billion tonnes became waste, either in landfills or discarded.
• Marine Plastic Pollution: Annually, over 14 million metric tonnes of plastic enter aquatic ecosystems, causing significant damage to marine environments and biodiversity.
• Climate Change Impact: The association between plastics and greenhouse gas emissions is alarming. If current trends persist, these emissions are projected to contribute 15% of the total allowable emissions by 2050 to limit global warming to 1.5°C.

Plastic

• Characteristic: Plastic encompasses primarily of polymers. 
• Material Source and Composition: chemicals based on fossil fuels, such as natural gas or petroleum.

International commitment: In the 4th United Nations Environment Assembly held in 2019, India had piloted a resolution on addressing single-use plastic products pollution, recognizing the urgent need for the global community to focus on this very important issue. 

Plastic Waste Management Amendment Rules, 2021 and 2022:

• 2021 rule: Phase out single use plastic items from 12 August 2021.

o It prohibit manufacture, import, stocking, distribution, sale and use of plastic carry bags having thickness less than seventy five microns with effect from 30th September, 2021, and having thickness less than thickness of one hundred and twenty microns with effect from the 31st December, 2022.

• 2022 rules: It notified the Guidelines on Extended Producers Responsibility (EPR) on plastic packaging.

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5. UNIVERSAL PERIODIC REVIEW (Syllabus: GS Paper 2 – IR)

Context: Recently, India urged Canada to enhance its legal framework to curb the "misuse" of freedom of expression, preventing the incitement of violence and activities of extremist groups. This call was made during the review of Canada's human rights record at the UN Human Rights Council (UNHRC).

• The message was delivered at the Universal Periodic Review (UPR) process, under which member states of the United Nations undergo periodic evaluation of their human rights record.\

UNHRC

• About: The Human Rights Council (UNHRC) is an intergovernmental body within the United Nations system.
• History: The UNHRC replaced the former UN Commission on Human Rights.
• Establishment: The UNGA on March 15, 2006, and held its inaugural session in June 2006.
• Headquarters: Geneva
• Composition of Council: 47 UN Member States elected by majority vote in a direct and secret ballot at the UNGA.
• Membership is based on equitable geographical distribution.
• India is currently a council member.

Universal Periodic Review (UPR)

• About: The UPR is a distinctive process that entails periodic reviews of the human rights records of all 193 UN Member States.
• Cyclical Evaluations: Since its inaugural meeting in April 2008, every one of the 193 UN member States has undergone three reviews within the first, second, and third UPR cycles.
• Objective: The ultimate goal of this mechanism is to enhance the human rights situation globally and confront human rights violations wherever they manifest. Remarkably, there is no other universal mechanism of this nature currently in existence.
• UPR for India: The trio of country representatives acting as rapporteurs ("troika") for India's review consists of delegates from Sudan, Nepal, and the Netherlands.

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6. 6TH INDIA-OPEC ENERGY DIALOGUE (Syllabus: GS Paper 2 – IR)

Context: Recently, the 6th High-Level Meeting of the India-OPEC Energy Dialogue took place at the OPEC Secretariat in Vienna, Austria.

Highlights of Dialogue

• The meeting involved open and candid discussions focusing on key issues related to oil and energy markets.
• Specific emphasis was placed on ensuring availability, affordability, and sustainability for stability in energy markets.
• Short, medium-, and long-term industry outlooks were discussed, acknowledging India's crucial role in global economic growth and energy demand.
• The World Oil Outlook 2023 forecasted India as the fastest-growing major developing economy, contributing over 28% of incremental global energy demand from 2022 to 2045.
• Both sides recognized the importance of continued cooperation and dialogue for the benefit of both producers and consumers.

OPEC

• About: It is a permanent, intergovernmental organization, created at the Baghdad Conference in 1960, by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.
• Member Countries: These countries were later joined by Qatar, Indonesia, Libya, the United Arab Emirates, Algeria, Nigeria, Ecuador, Gabon, Angola, Equatorial Guinea and Congo.
• Headquarters: Vienna, Austria.
• Aim: To regulate oil supply with the aim of stabilizing the global oil price, thus preventing volatility that could negatively impact the economies of both oil-producing and oil-importing nations.
• 5th High-Level Meeting of the India-OPEC Energy Dialogue: October 2021 via videoconference

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7. PM PVTG DEVELOPMENT MISSION (Syllabus: GS Paper 2 – Government Schemes)

Context: The Prime Minister of India will launch a new development mission aimed at particularly vulnerable tribal groups or PVTGs.

Pradhan Mantri PVTG Development Mission

• About: This mission will be launched on, the birthday anniversary of tribal icon Birsa Munda and a day celebrated as the Jan Jaatiya Gaurav Divas to honor the contribution of freedom fighters who hailed from tribal communities.
• Implemented by: Convergence of 11 interventions of nine ministries
• The mission will additionally ensure the saturation of schemes such as the PM Jan Arogya Yojana, sickle cell disease elimination, TB elimination, immunization program, PM Poshan Abhiyan, and the Jan Dhan Yojana, among others.

PVTG (Particularly Vulnerable Tribal Groups)

• About: PVTGs represent the most susceptible segment among India's tribal communities, necessitating enhanced support and development efforts.
• Among the 705 Scheduled Tribes in India, 75 have garnered the PVTG classification, and their populations are dispersed across 17 states and one Union Territory.

Bhagwan Birsa Munda

• Early Life: Born on 15th November 1875 in Ulihatu of the erstwhile Bengal Presidency which is now in the Khunti district of Jharkhand.
• Founder of New Religion: It believed in One God and encouraged them to revert to their original religious beliefs.
• Munda Rebellion: The tribal movement against the oppressions of the British Raj was led by Munda.

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8. FAME INDIA SCHEME (Syllabus: GS Paper 2 – Govt Schemes)

Context: Recently, the government has been contemplating the implementation of stricter norms to promote the use of local components, aiming to enhance domestic manufacturing of electric vehicles (EVs).

• This move comes in response to instances of companies violating the phased manufacturing program (PMP) norms by assembling vehicles with imported parts.

FAME India Scheme

• About: FAME (Faster Adoption and Manufacturing of Electric Vehicles) India is a part of the National Electric Mobility Mission Plan.
• The main thrust of FAME is to encourage electric vehicles by providing subsidies.
• Implementing agency: The Department of Heavy Industry has been administering the scheme “Faster Adoption and Manufacturing of Electric and Hybrid Vehicles in India”, popularly known as the FAME India scheme since 01st April 2015.
• Objective: Promotion of Electric and hybrid vehicles in the country by offering upfront Incentives on the purchase of Electric vehicles and by establishing charging Infrastructure for electric vehicles.

Salient Features of the FAME Scheme – 2

• This scheme is the expanded version of the present scheme titled ‘FAME India-1 which was launched on 1st April 2015, with a total outlay of Rs. 895 crores.
• The target is to support 10 Lakhs e-2Wheeler, 5 Lakhs e-3 Wheelers, 55000 4 Wheelers, and 7000 Buses.
• Under the scheme of FAME-II, the demand incentive for e-2W has been increased to Rs. 15,000/KWh from Rs. 10,000/KWh with an increase in cap from 20% to almost 40% of the cost of the vehicle to increase the adoption of e-2W.
• The phase II of the FAME-India Scheme has been extended for a period of two years after 31st March 2022.
• Benefits: The scheme will help in addressing the issue of environmental pollution and fuel security.

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9. INDIA’S MANUFACTURING SECTOR (Syllabus: GS Paper 3 – Economy)

Context: Recently, a Ficci survey revealed that India's manufacturing sector experienced an accelerated growth in the June-September quarter of FY24, defying the slowdown seen in developed nations. The findings suggest a positive outlook for the sector in the recently commenced financial year.

Key Points

• FICCI surveyed 380 manufacturing units covering large small and medium enterprises (SME) with a combined annual turnover of over Rs 4.9 trillion in ten major sectors like automotive and auto components, capital goods, cement, and chemicals.
• The survey said that electronics and white goods, cement, and automotive and machine tools displayed strong growth and are "clear outperformers".

India's Manufacturing Sector 

• India’s Status: Ranked as the third most coveted manufacturing destination globally, India possesses the capability to export goods amounting to US$ 1 trillion by the year 2030.
• Contribution to GDP: The Indian Manufacturing sector currently contributes 16-17% to GDP.
• Employment: The workforce in India's manufacturing sector has experienced a decline of over 30%, dropping from more than 51 million in 2016 to under 36 million in 2023.
• Opportunities: India offers the 3 'Ds' for business to thrive— democracy, demography, and demand.
• GST and improving public spending through infrastructure projects are favorable moves for the sector.
• The labor-intensive manufacturing sector is the only ray of hope for India to absorb its huge labour force.

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10. CROP RESIDUES (Syllabus: GS Paper 3 – Env and Eco)

Context: Recently, the Supreme Court of India has delivered a strong admonishment to Punjab and Haryana for their involvement in crop residue burning.

Crop Residues

• About: Crop residues are materials left on cultivated land after the crop has been harvested.
• Benefits: They have the potential to enhance soil structure, elevate organic matter levels within the soil, decrease evaporation rates, and contribute to carbon dioxide sequestration in the soil.
• Soil Quality Boost: Effective residue management practices enhance soil quality on agricultural lands, yielding numerous benefits.
• Biofuel Potential: Crop residues can serve as a valuable resource for biofuel production, offering sustainable energy solutions.

Crop Residue Management Guidelines

• Guideline revised by: Ministry of Agriculture
• Key features of Guideline: Techno-commercial pilot projects for the Paddy Straw Supply Chain will be established through bilateral agreements between Beneficiaries/Aggregators and Industries.
• The guidelines aim to facilitate the effective ex-situ management of paddy straw generated in Punjab, Haryana, Uttar Pradesh, and Delhi.

Why are Farmers Burning Crop Residues?

• Shorter cropping cycles
• Increased mechanisation of harvesting
• Labour shortage
• No market for crop residue

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