8th September - AAJ KA QUALITY ENRICHMENT

KEYWORDS

• Meaning: It reflects a common perspective in economics and fiscal policy. It essentially suggests that when a government runs a budget deficit, meaning it spends more money than it collects in revenue, it often has to borrow money to cover the shortfall. This deficit are generally paid in future which acts as taxation on government. 
• Usage: It can be used in questions related to - Economic reform, Fiscal and current account deficit, FRBM Act, Gov. Budget and survey etc.

• Meaning: This keyword signifies a crucial aspect of modern business operation and resilient economic system. The importance of supply chain management is essential for overall transportation cost and thereby profitability and growth of business and country as a whole. 

• It encompasses from production to consumption level of operation.

• Usage: It can be used in questions related to – Economic growth, infrastructure creation, global trade, NIP and PM Gati shakti, Railway, Road or water transportation etc.

• Meaning: It is used to describe a location, region, industry, or sector that is experiencing rapid and significant economic or developmental growth. It implies that this particular area or sector is at the very heart or center of this growth, serving as a focal point for economic expansion and development. 
• Usage: It can be used in questions related to – Aspiration districts, N E States, India’s significance in the world, Importance of ASEAN, Central Asia, West Asia, etc.

• Meaning: This keyword can be used to refer unexpected and potentially disruptive events or developments that can encompass a wide range of situations and challenges that may have significant impacts on various aspects of society, the economy, or individual lives.
• Usage: It can be used in questions related to - Pandemic like COVID, Climate change, Loss of ozone layer, impacts of global warming, emerging cyber threats, global disruptions due to protectionist measures Etc.

CASE STUDIES/ EXAMPLES

• Case: Mayurbhanj, Odisha.
• Women involved: Subasa Mohanta, popularly known as ‘Mandia Didi’ (millet didi) and Raimati Ghiuria both from tribal communities.
• Step taken: They led women in villages to take up millet cultivation and now 35 families are growing the crop. Millet cultivation has not only transformed thier life but she also led the forming of a ‘farmers produce’ company that procures millets from local tribal farmers. 

KEY FACTS

• As per Index of Linguistic Diversity (ILD): globally, linguistic diversity declined by 20% over the period 1970-2005. 
• According to a report published by UNESCO in 2018: 42 languages are heading towards extinction in India. These were spoken by less than 10,000 people. 

• India’s carbon dioxide emissions per capita: 3rd of the global average.

• India is the only G20 country in the top 10 ranks of the Climate Change Performance Index (CCPI).
• India ranks as the third largest renewables market globally, and among the cheapest.
• Use of rooftop solar panels: 30-fold increase in less than a decade.
• Electric passenger vehicles: Achieving nearly a 5% market share in 2022.

• Developed nations: It houses a mere 16% of the world’s populace, have been responsible for a staggering 77% of all emissions since 1850.

PM/VP/PRESIDENT SPEECHES

• On Human Centric Approach: There is a growing realisation that a shift away from a GDP-centric view of the world to a human-centric view is needed.
• On multilateralism: There is a collective call for boosting multilateralism through the reform of global institutions.
• On India’s growth story: Our simple, scalable and sustainable solutions have empowered the vulnerable and the marginalised to lead our development story. 
• On Women Empowerment: From space to sports, economy to entrepreneurship, Indian women have taken the lead in various sectors. They have shifted the narrative from the development of women to women-led development. 

JUDGEMENTS/ COMMITTEE RECOMMENDATION

• Started by: Expert committee led by EAS Sarma which led up to the Fiscal Responsibility and Budget Management Act, 2003 (FRBM), and the Vijay Kelkar Task Force on Implementing the FRBM (2004).
• The FRBM Review Committee Report (2017): Headed by N K Singh: It proposed a new Debt Management and Fiscal Responsibility Bill (DMFR Bill) which aims to solve these problems. It also suggested for:

• Fiscal deficit: Reduce to of 3% of the GDP in years up to March 31, 2020, cut it to 2.8% in 2020-21 and to 2.5% by 2023.
• Debt to GDP ratio: Total 60%, a 40% limit for the centre and 20% limit for the states.
• Revenue Deficit Target: Reduced to 0.8% of GDP by March 31, 2023.

DEFINITION

• Definition: Heat index, also known as apparent temperature, is a measure of how the temperature feels to humans. Relative humidity is an important factor that determines heat index, along with air temperature.

• Definition: Biofuels are a category of renewable fuels made from biological materials, such as plants, crops, and organic waste. These fuels are produced through various processes, primarily involving the conversion of biomass into liquid, gaseous, or solid fuels. Ex: Bioethanol, biodiesel, Biogas.

QUOTES

• Meaning: The quote highlights that prejudice is not just a personal bias or belief; it has far-reaching consequences that affect our perception of history, our ability to build a better future, and our capacity to engage meaningfully with others in the present. 

• It serves as a reminder of the importance of recognizing and addressing prejudice to foster a more inclusive and equitable society.

Quote on Dissent: “Take heed of critics even when they are not fair; resist them even when they are fair”. - JEAN ROSTAND

• Meaning: The quote offers guidance on how to approach criticism, feedback, and dissenting opinions. It suggests that one should be open to criticism, even when it is unjust or unfair, and that there may be instances when it is appropriate to resist or push back against criticism, even if it is fair.