6th July - AAJ KA QUALITY ENRICHMENT

Aaj Ka Quality Enrichment Program 6th July 2023 Save

KEYWORDS
Phase/Age of demographic dividend:

Meaning: It refers to a period in a country's demographic transition where there is a high proportion of working-age individuals relative to the dependent population (children and elderly).
Usage: It can be used in questions related to Population, Youth and labour force, 21st c. as age of India’s labour force, labour force productivity, economic growth.

Modern tools of democratic participation:

Meaning: It signifies the rise of the internet and various digital platforms which has transformed the way people engage in democratic processes and participate in decision-making.
Usage: Media, social media, internet and digitization.
Extended usage: Electoral reforms, participative democracy, freedom of speech etc.

Economic centre of gravity for the world:

Meaning: It is a concept that represents the location of global economic activity.
It refers to the region or countries where the combined economic output and opportunity is very high.
Usage: It can be used to refer: Asia, India and China, etc.
It can be used in questions related to Manufacturing, FDI, global trade and supply chain etc.

From Formal Equality to Substantive Equality:

Meaning: Formal Equality: It is based on an understanding of equality as identical or same treatment.
Substantive Equality: It recognizes that the law must take elements such as discrimination, marginalization, and unequal distribution into account.
Usage: It can be used in questions related to Reservation and affirmative actions, Indian Society, Population Associated issues, Migration, Refugee issues, Good Governance, Women Empowerment, LGBTQ+ Rights, Inclusive Development etc.

CASE STUDIES/ EXAMPLES
Steps taken against bribe and violation of ethical code:

Case: TCS and Tata steel
Step taken: TCS has sacked six employees in the bribes-for jobs scandal. Tata Steel has sacked 35 people for breaching its code of conduct.
Reason: Host of issues such as misuse of authority, conflict of interest, contract management agreements and sexual misconduct.
Usage: Corporate governance, ethics in private sector etc.
Step taken is known as: One-off payments, known as anticipatory cash relief.
Significan

KEY FACTS
Population related data:

Average age of population: India 29 years.
Others: US, China, France, Germany and Japan have average age of 38, 38, 42, 45 and 48 years, respectively.
India is the youngest among the most populous countries in the world.
Old-age dependency ratio:
India: Will reach 37% in 2075, whereas the same will be 49.3% in the US, 53% in the UK.
Labour force in agriculture: 45.5%.
Labour force in unorganized sector: 93% of the employed in India.

UNCTAD’s World Investment Report 2023:

Overall global FDI declined by 12% in 2022.
Developing countries received higher FDI compared to developed countries.
China, India, Singapore, and UAE together accounted for about 80% of inflows into the region.
During 2022, FDI inflows to India (rose by 10%) was higher compared to China (rose by 5%) on an annual basis.

JUDGEMENTS/ COMMITTEE RECOMMENDATION
Need of independent judiciary: Supreme Court judge P S Narasimha said:

Independence of the judiciary is the foundational pillar for intertwining of democracy, constitutionalism and rule of law.
Rule of law which is the bedrock of democracy, will be diluted if the independence of the judiciary is not upheld.
This separation of powers is the accepted principle on which any dynamic form of government exists. If the independence of judiciary is compromised, the concept of government itself comes under threat.
Democracy is not just a system of governance but a broader social commitment that values equality, fairness and justice. “It is the judiciary in its independent capacity that breathes life into these values.
An independent judiciary is the lifeblood of democracy and is essential for accountability.

RBI recommendation on internationalization of rupee:

The RBI’s inter-departmental group on internationalization of the rupee has suggested:
India should explore alternatives to the US dollar and the euro as strong forex reserves are not a sufficient defence against economic sanctions.
Allow foreigners to hold rupee accounts in overseas branches.
Round-the-clock trading in the currency market and
Increasing the use of united payments interface (UPI) for cross-border payments.

DEFINITION
Labour productivity:

Definition: Labor productivity is a measure of economic performance that compares the amount of output with the amount of labor used to produce that output.
Labor productivity measures the hourly output of a country's economy.
It is largely driven by investment in capital, technological progress, and human capital development.

Crony Capitalism:

Definition: It is an economic system in which businesses thrive not as a result of free enterprise, but rather collusion between a business class and the political class.
Plutocracy/ Plutarchy: It is a society that is ruled or controlled by people of great wealth or income.

QUOTES
Quote on War: “The supreme art of war is to subdue the enemy without fighting” - SUN TZU

Meaning: This quote encapsulates the idea that the highest form of warfare is to achieve victory without engaging in direct combat.
According to Sun Tzu, the key to success lies in the importance of strategy, cunning, and an understanding of human nature in achieving victory.