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21st August 2023

Editorial

The key to India’s hunger challenge

Context:

For India in present time, accelerating economic growth and making it more inclusive, coupled with an increase in farm productivity is important which can help end malnutrition.

India’s Fight against Poverty:

  • Post-independence efforts: Addressing poverty, hunger, and malnutrition has been a core responsibility of elected governments, resulting in a substantial reduction in extreme poverty from over 80% to around 15% since independence.
  • Current focus: India's remarkable strides in poverty reduction and economic transformation are evident as the nation's economic resilience stemming from strategic economic reforms and substantial foreign exchange reserves, positioning India favorably relative to its neighboring countries.
  • Initiatives taken: India shows promise in nearly eradicating poverty aided by successful agricultural revolutions like the Green and White Revolutions has made India a major rice exporter and a leader in milk and cotton production.

Challenges looming:

  • Malnutrition- a major consequence of poverty: Malnutrition among children under five remains concerning, with 32% underweight, 35% stunted, and 19% wasted.
  • Threat from Climate change: The looming threat of climate change and its impact on extreme weather events, such as heatwaves and floods, poses a significant challenge.
  • Hunger and rising population: The increasing population is one of the major reasons for lack of effective policy implementation and other concerns like increase in demand of food.

Way forward:

  • To focus on women education: India's low female labor force participation at around 30% underscores the need for better education and skill development for women.
  • Taking National growth with livelihood need: For promoting family planning and contributing to national growth, will help in enhancing agricultural productivity while prioritizing nutrition and climate resilience is vital.
  • Increasing agricultural R&D investment, unlike outdated price controls, is crucial. Engaging institutions like Punjab Agriculture University can drive a sustainable and nutritious agricultural revolution.
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Editorial

How the Bhakti movement flourished under Mughals

Context:

While laying the foundation stone of a temple dedicated to Ravidas, in Madhya Pradesh, Prime Minister made a link between the 14th century social reformer and Bhakti saint Sant Ravidas and the Mughals.

What is the Bhakti Movement?

  • Initiation- The movement probably began in the Tamil region around the 6th and 7th century AD and achieved a great deal of popularity through the poems of the Alvars and Nayanars, the Vaishnavite and Shaivite poets.
  • Reason for growth- The rigid caste system that constituted the practice of worship and the inherent need to move to a more fulfilling method of worship and salvation perhaps spurred this movement.
  • Mantra- Bhakti poets emphasized surrender to god. Equally, many of the Bhakti saints were rebels who chose to defy the currents of their time through their writings.

How the Bhakti movement flourished under Mughals?

  • Land Grants- In 1526, for instance, Akbar made a land grant to the officiating priest of the Govinda Dev temple in Vrindavan.
  • Jagir grants- By 1580, the Mughals had awarded jagir grants to at least seven temples in the Braj region.
  • Religious Policies- Akbar’s religious policy of ‘Sulh-e-kul’ or ‘universal peace’ is a literal translation of Kabir’s philosophies.

Commonalities between Sufism and Bhakti:

  • Stressed on the inner life of devotion- Diana Eck had noted that both Bhakti and Sufism “stressed the inner life of devotion and love, not the outer world of ritual and practice”.
  • Drawing inspiration from each other- Historian Shahabuddin Iraqi, remarked that “the various trends of spiritual thought that developed under the Bhakti and Sufi movements drew much from each other, consciously and unconsciously.”
  • Commonalities more apparent in Nirgun Bhakti- It were explained that the commonalities between Sufism and Bhakti become all the more apparent when it comes to the Nirgun Bhakti order to which Ravidas belonged.
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Context

In a release, the Reserve Bank of India (RBI) detailed the revised guidelines for Infrastructure Debt Funds - Non-Banking Financial Companies (IDF-NBFCs) and the sponsorship of IDF-MFs by Non-Banking Financial Companies (NBFCs).

What are Infrastructure Debt Funds - Non-Banking Financial Companies (IDF-NBFCs)?

  • An IDF-NBFC is a company and comes under the regulation of RBI.
  • An IDF-NBFC is a company registered as NBFC to facilitate the flow of long- term debt into infrastructure projects.
  • It raises resources through issue of rupee or dollar-denominated bonds of minimum 5-year maturity.
  • Only Infrastructure Finance Companies can sponsor IDF-NBFCs.
  • IDF-NBFCs would take over loans extended to infrastructure projects which are created through the Public Private Partnership (PPP) route and have successfully completed one year of commercial production.

Infrastructure Debt Funds (IDFs): 

  • IDFs are investment vehicles for channelizing investment into the infrastructure sector.
  • They are sponsored by commercial banks and NBFCs in India in which domestic/offshore institutional investors, specially insurance and pension funds can invest through units and bonds issued by the IDFs.

Eligibility parameters for NBFCs as sponsors of IDF-MF

NBFCs sponsoring IDF-MFs are required to comply with the following requirements:

  • The NBFC should have a minimum Net Owned Funds (NOF) of Rs.300 crore; and Capital to Risk Weighted Assets (CRAR) of 15%;
  • its net NPAs should be less than 3% of net advances;
  • it should have been in existence for at least 5 years;
  • it should be earning profits for the last three years and its performance should be satisfactory;
  • the CRAR of the NBFC post investment in the IDF-MF should not be less than the regulatory minimum prescribed for it;
  • The NBFC should continue to maintain the required level of NOF (Net Owned Fund) after accounting for investment in the proposed IDF and
  • There should be no supervisory concerns with respect to the NBFC.

About the revised guidelines:

  • According to the revised definition, an IDF-NBFC refers to a non-deposit-taking NBFC that is authorized to refinance infrastructure projects that have completed at least one year of satisfactory commercial operations.
  • Additionally, IDF-NBFCs can directly finance toll-operate-transfer (TOT) projects.
  • To qualify as an IDF-NBFC, entities must adhere to specific net owned funds (NOF) and regulatory capital requirements.
  • The guidelines said that IDF-NBFCs are allowed to raise funds through rupee or dollar-denominated bonds with a minimum maturity of five years.
  • For better asset-liability management (ALM), they can also utilise shorter tenor bonds and commercial papers (CPs) up to 10 per cent of their total outstanding borrowings.
  • Additionally, external commercial borrowings (ECBs) can be used, provided they have a minimum tenure of five years and are not sourced from foreign branches of Indian banks.
  • Need:
    • In order to enable IDF-NBFCs to play a greater role in the financing of the infrastructure sector and to harmonise the regulations governing financing of infrastructure sector by the NBFCs, a review of the guidelines applicable to IDF-NBFCs has been undertaken, in consultation with the Government of India.

Other provisions:

  • IDF-NBFCs are also subject to exposure limits, allowing up to 30 per cent of their Tier 1 capital for a single borrower or party and up to 50 per cent for a single group of borrowers or parties.
  • Risk weights are determined based on risk weights applicable to NBFC-Investment and Credit Companies (NBFC-ICCs) for computing CRAR.
  • The RBI has also outlined eligibility criteria for NBFCs to sponsor IDF-MFs.
  • These criteria include factors such as net owned funds, net NPAs, years of existence, profitability, and other supervisory concerns.

Editorial

How India needs to prepare for the AI disruption

Context:

India must develop a comprehensive National AI strategy that connects stakeholders to provide a roadmap for responsible AI deployment and increase funding for AI research.

The AI talk:

  • Estimated Growth: Explosive growth projected for global Generative AI market with 45% CAGR from 2021-2028, transforming industries and business models.
  • Purpose of AI: LLMs & Generative AI automating tasks like coding, summarization, and conversation, aiding professionals for complex problem-solving.
  • Contains a dual perspective: Adoption of AI coding tools rising rapidly among US developers, yet concerns arise about economic challenges and workforce displacement.

Present stance on AI’s impacts:

  • Leading to Unemployment: Routine tasks face automation impact, risking 5-10% job loss across sectors, causing unemployment disparity if reskilling is delayed.
  • Industries impacted: Generative AI's broad industry impact, including India's IT sector, requires proactive planning for reskilling, policies, and support.
  • Need for a policy intervention: Necessity for funding worker transition, policy reforms, legal measures, and enhanced social safety nets to mitigate AI-driven job displacement.

Suggestions for India:

  • Must focus on AI strategy: India faces cloud computing limitations and lacks comprehensive AI strategy, risking loss of talent and data privacy concerns.
  • Enhance inclusive research and funding: Urgent steps include national AI strategy, enhanced research funding, think tanks, business incentives, and worker support.
  • Ask for global cooperation: Needed are policies for job protection, strong industry-academia ties, and global collaborations to harness AI's potential responsibly.
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Context

In a significant move for the progress of the National Green Hydrogen Mission, the government has notified the ‘Green Hydrogen Standard for India’.

  • The standards issued by the ministry outline the emission thresholds that must be met in order for hydrogen produced to be classified as ‘Green’,e., from renewable sources.

What is Green Hydrogen?

  • Green Hydrogen: It is produced using electrolysis of water with electricity generated by renewable energy.
  • The carbon intensity ultimately depends on the carbon neutrality of the source of electricity (i.e., the more renewable energy there is in the electricity fuel mix, the "greener" the hydrogen produced).

About the notified standards for Green Hydrogen:

  • The ministry has decided to define green hydrogen as having a well-to-gate emission of not more than two kg carbon dioxide (CO2) equivalent per kg hydrogen (H2).
  • The scope of the definition encompasses both electrolysis-based and biomass-based hydrogen production methods.
  • The notification specifies that a detailed methodology for measurement, reporting, monitoring, on-site verification and certification of green hydrogen and its derivatives will be specified by the ministry of new and renewable energy.
  • It also specifies that the Bureau of Energy Efficiency (BEE) under the ministry of power will be the nodal authority for accreditation of agencies for the monitoring, verification and certification for green hydrogen production projects.
  • The government launched National Green Hydrogen Mission early this year with an aim to produce 5 million metric tonne (MMT) green hydrogen per annum with an associated renewable energy capacity of about 125 giga watt (GW) by 2030.
  • The Strategic Interventions for Green Hydrogen Transition (SIGHT) programme is a major financial measure under the mission with an outlay of Rs 17,490 crore.
  • The programme proposes two distinct financial incentive mechanisms to support domestic production of electrolysers and production of green hydrogen.
  • These incentives are aimed at enabling rapid scale-up, technology development and cost reduction.
  • The definition of green hydrogen brings a lot of clarity to the mission of making India a global green hydrogen hub.

India’s Green Hydrogen aspiration:

  • India has set a target of producing 5 million tonnes per annum (MTPA) of green hydrogen by 2030 through the recently launched National Green Hydrogen Mission.
  • Rapid scaling up of green hydrogen projects in India would require the development of a favourable ecosystem, and a single window clearance for green hydrogen projects would be a key component.
  • In this regard, the development and harmonisation of hydrogen standards would play a critical role in making it for businesses to enter the green hydrogen market.
  • In addition, since India aims to be a global hub for green hydrogen in the coming decades, the synchronisation of standards across the value chain with global export markets is of the utmost importance.

Significance of Green Hydrogen:

  • Green Hydrogen, produced using renewable energy, has the potential to play a key role in such low-carbon and self-reliant economic pathways.
  • Green Hydrogen can enable utilization of domestically abundant renewable energy resources across regions, seasons, and sectors, feeding multiple usage streams, either as a fuel or as an industrial feedstock.
  • It can directly replace fossil fuel derived feedstocks in petroleum refning, fertilizer production, steel manufacturing etc.
  • Hydrogen fuelled long-haul automobiles and marine vessels can enable decarbonisation of the mobility sector.
  • Green Hydrogen can be particularly useful as a versatile energy carrier for meeting energy requirements of remote geographies, including islands, in a sustainable manner.

National Green Hydrogen Mission:

  • India has set its sight on becoming energy independent by 2047 and achieving Net Zero by 2070.
  • To achieve this target, increasing renewable energy use across all economic spheres is central to India's Energy Transition.
  • Green Hydrogen is considered a promising alternative for enabling this transition.
  • Hydrogen can be utilized for long-duration storage of renewable energy, replacement of fossil fuels in industry, clean transportation, and potentially also for decentralized power generation, aviation, and marine transport.
  • The National Green Hydrogen Mission was approved with the intended objectives of:
    • Making India a leading producer and supplier of Green Hydrogen in the world
    • Creation of export opportunities for Green Hydrogen and its derivatives
    • Reduction in dependence on imported fossil fuels and feedstock
    • Development of indigenous manufacturing capabilities
    • Attracting investment and business opportunities for the industry
    • Creating opportunities for employment and economic development
    • Supporting R&D projects

Mission outcomes:

The mission outcomes projected by 2030 are:

  • Development of green hydrogen production capacity of at least 5 MMT (Million Metric Tonne) per annum with an associated renewable energy capacity addition of about 125 GW in the country
  • Over Eight lakh crore in total investments
  • Creation of over Six lakh jobs
  • Cumulative reduction in fossil fuel imports over Rs. One lakh crore
  • Abatement of nearly 50 MMT of annual greenhouse gas emissions

Editorial

Narco epidemic among students may mar India story, nation needs war on drugs

Context:

The Prime Minister has often mentioned that one of the biggest secrets behind India’s spectacular and widely acknowledged rise is the nation’s young demography. But there is a silent predator which could sink the India’s story i.e. the growing drug culture.

The drug menace amongst Youth

  • Readily available drugs: The increasing drug threat among youth is characterized by the widespread availability of substances ranging from marijuana to potent opioids.
  • Seen amongst youngsters and teenagers: The menace is particularly alarming as it targets children as young as 14, with dealers operating around schools and colleges, ensuring easy access.
  • Lack of scrutiny: Dangerous party drugs like methamphetamine and are readily accessible, even though recent seizures suggest a grim scenario of manufacturing and distribution, endangering the youth across the nation.

Forms of addictives consumed

  • Methamphetamine-one of major drug consumed: The escalating drug menace, particularly methamphetamine, poses severe risks to Indian society, with widespread availability and ease of access.
  • Alarming cities: Major cities like Mumbai, Bengaluru, and Delhi-NCR face alarming drug proliferation, targeting youth through schools, nightlife, and paan shops.
  • Increasing addiction cases: The crisis extends to Kashmir, indicating a challenge greater than militancy, with a surge in addiction cases. Urgent, coordinated action is essential for prevention.

Steps can be taken

  • Strengthen drug laws: Like Singapore, India should also make strict laws with stringent penalties, including exemplary punishment, as proposed under the new Bharatiya Nyay Sanhita.
  • Special Bodies made: Establish joint task forces of Narcotics Control Bureau and local police to dismantle drug cartels, targeting all levels of operation.
  • Conducting Campaigns and awareness: Launch awareness campaigns with celebrity involvement, backed by a helpline for anonymous reporting, to curb drug proliferation.
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Public Tech Platform for Frictionless Credit (PTPFC)

Context

The RBI has announced a pilot programme for ‘Public Tech Platform for Frictionless Credit’ which would strive to deliver frictionless credit by facilitating seamless flow of required digital information to lenders.

About Public Tech Platform for frictionless credit (PTPFC):

  • The Public Tech Platform for frictionless credit is an end-to-end digital platform that has been developed by the Reserve Bank Innovation Hub, a wholly-owned subsidiary of the central bank.
  • Developed by: The public platform will be developed by the Reserve Bank Innovation Hub (RBIH).
  • The newly launched Public Tech Credit platform will help in seamless disbursal of non-collateral based loans for Micro, Small and Medium Enterprises (MSMEs), Kisan Credit Card loans up to Rs 1.6 lakh, dairy loans, personal loans, and home loans.
  • Objective: The aim of the pilot project is to connect borrowers and lenders, which will make credit more accessible to millions of individuals looking for small loans.

How will it work?

  • The platform has been designed to have open application programming interface (API) standards, which will allow other financial institutions to readily adopt it into their systems. Instead of having discrete information systems, the centralisation of borrower information can make it much easier for new loan applicants to avail credit facility.
  • It is expected to linkage with services like Aadhar e-KYC, Aadhar e-signing, land records from on-boarded state governments (Madhya Pradesh, Tamil Nadu, Karnataka, Uttar Pradesh and Maharashtra), satellite data, PAN validation, and transliteration, account aggregation by account aggregators (AAs), milk pouring data from select dairy co-operatives, and house/property search data.
  • Significance of the Programme:
  • It ensures that credit or other financial instruments are extended to a larger set of borrowers with good credit history.
  • It would provide a basis for improved credit risk and overall credit portfolio management.

The Credit appraisal process for loan reimbursement:

  • Digital delivery of credit (or delivering credit/loans though digital means) is preceded by a process of scrutiny known as credit appraisal.
  • The process attempts to evaluate and accordingly predict the prospective borrowers’ ability for repayment of credit/loan and adhering to the credit agreement.
  • The process rests on three important pillars, namely, the problem of adverse selection (that results from the asymmetry of information from either the borrower or lender), measurement of exposure risk and the assessment of default risk (the probability that the borrower may default in repayment).
  • This pre-disbursal process is particularly important for banks since it would in turn determine their interest income and impact on the balance sheet.

How will it help in MSME and Kisan Credit Card Loans?

  • The effect of the PTPFC has been immediately seen with few banks announcing that it will be launching Kisan Credit Card (KCC) and unsecured MSME loans to small business customers through the platform.
  • Once the pilot programme is over, the RBI will be taking a look at the programme and further extend the scope of the project.
  • Future changes to the program include adding more products, and providers, as well as onboarding more lenders.
  • As the project expands, the PTPFC is expected to further improve credit access to more underserved areas of the country.

Infrastructure Debt Funds - Non-Banking Financial Companies (IDF-NBFCs)

Context

In a release, the Reserve Bank of India (RBI) detailed the revised guidelines for Infrastructure Debt Funds - Non-Banking Financial Companies (IDF-NBFCs) and the sponsorship of IDF-MFs by Non-Banking Financial Companies (NBFCs).

What are Infrastructure Debt Funds - Non-Banking Financial Companies (IDF-NBFCs)?

  • An IDF-NBFC is a company and comes under the regulation of RBI.
  • An IDF-NBFC is a company registered as NBFC to facilitate the flow of long- term debt into infrastructure projects.
  • It raises resources through issue of rupee or dollar-denominated bonds of minimum 5-year maturity.
  • Only Infrastructure Finance Companies can sponsor IDF-NBFCs.
  • IDF-NBFCs would take over loans extended to infrastructure projects which are created through the Public Private Partnership (PPP) route and have successfully completed one year of commercial production.

Infrastructure Debt Funds (IDFs): 

  • IDFs are investment vehicles for channelizing investment into the infrastructure sector.
  • They are sponsored by commercial banks and NBFCs in India in which domestic/offshore institutional investors, specially insurance and pension funds can invest through units and bonds issued by the IDFs.

Eligibility parameters for NBFCs as sponsors of IDF-MF

NBFCs sponsoring IDF-MFs are required to comply with the following requirements:

  • The NBFC should have a minimum Net Owned Funds (NOF) of Rs.300 crore; and Capital to Risk Weighted Assets (CRAR) of 15%;
  • its net NPAs should be less than 3% of net advances;
  • it should have been in existence for at least 5 years;
  • it should be earning profits for the last three years and its performance should be satisfactory;
  • the CRAR of the NBFC post investment in the IDF-MF should not be less than the regulatory minimum prescribed for it;
  • The NBFC should continue to maintain the required level of NOF (Net Owned Fund) after accounting for investment in the proposed IDF and
  • There should be no supervisory concerns with respect to the NBFC.

About the revised guidelines:

  • According to the revised definition, an IDF-NBFC refers to a non-deposit-taking NBFC that is authorized to refinance infrastructure projects that have completed at least one year of satisfactory commercial operations.
  • Additionally, IDF-NBFCs can directly finance toll-operate-transfer (TOT) projects.
  • To qualify as an IDF-NBFC, entities must adhere to specific net owned funds (NOF) and regulatory capital requirements.
  • The guidelines said that IDF-NBFCs are allowed to raise funds through rupee or dollar-denominated bonds with a minimum maturity of five years.
  • For better asset-liability management (ALM), they can also utilise shorter tenor bonds and commercial papers (CPs) up to 10 per cent of their total outstanding borrowings.
  • Additionally, external commercial borrowings (ECBs) can be used, provided they have a minimum tenure of five years and are not sourced from foreign branches of Indian banks.
  • Need:
    • In order to enable IDF-NBFCs to play a greater role in the financing of the infrastructure sector and to harmonise the regulations governing financing of infrastructure sector by the NBFCs, a review of the guidelines applicable to IDF-NBFCs has been undertaken, in consultation with the Government of India.

Other provisions:

  • IDF-NBFCs are also subject to exposure limits, allowing up to 30 per cent of their Tier 1 capital for a single borrower or party and up to 50 per cent for a single group of borrowers or parties.
  • Risk weights are determined based on risk weights applicable to NBFC-Investment and Credit Companies (NBFC-ICCs) for computing CRAR.
  • The RBI has also outlined eligibility criteria for NBFCs to sponsor IDF-MFs.
  • These criteria include factors such as net owned funds, net NPAs, years of existence, profitability, and other supervisory concerns.

Govt unveils green hydrogen standards

Context

In a significant move for the progress of the National Green Hydrogen Mission, the government has notified the ‘Green Hydrogen Standard for India’.

 

  • The standards issued by the ministry outline the emission thresholds that must be met in order for hydrogen produced to be classified as ‘Green’,e., from renewable sources.

 

What is Green Hydrogen?

  • Green Hydrogen: It is produced using electrolysis of water with electricity generated by renewable energy.
  • The carbon intensity ultimately depends on the carbon neutrality of the source of electricity (i.e., the more renewable energy there is in the electricity fuel mix, the "greener" the hydrogen produced).

About the notified standards for Green Hydrogen:

  • The ministry has decided to define green hydrogen as having a well-to-gate emission of not more than two kg carbon dioxide (CO2) equivalent per kg hydrogen (H2).
  • The scope of the definition encompasses both electrolysis-based and biomass-based hydrogen production methods.
  • The notification specifies that a detailed methodology for measurement, reporting, monitoring, on-site verification and certification of green hydrogen and its derivatives will be specified by the ministry of new and renewable energy.
  • It also specifies that the Bureau of Energy Efficiency (BEE) under the ministry of power will be the nodal authority for accreditation of agencies for the monitoring, verification and certification for green hydrogen production projects.
  • The government launched National Green Hydrogen Mission early this year with an aim to produce 5 million metric tonne (MMT) green hydrogen per annum with an associated renewable energy capacity of about 125 giga watt (GW) by 2030.
  • The Strategic Interventions for Green Hydrogen Transition (SIGHT) programme is a major financial measure under the mission with an outlay of Rs 17,490 crore.
  • The programme proposes two distinct financial incentive mechanisms to support domestic production of electrolysers and production of green hydrogen.
  • These incentives are aimed at enabling rapid scale-up, technology development and cost reduction.
  • The definition of green hydrogen brings a lot of clarity to the mission of making India a global green hydrogen hub.

India’s Green Hydrogen aspiration:

  • India has set a target of producing 5 million tonnes per annum (MTPA) of green hydrogen by 2030 through the recently launched National Green Hydrogen Mission.
  • Rapid scaling up of green hydrogen projects in India would require the development of a favourable ecosystem, and a single window clearance for green hydrogen projects would be a key component.
  • In this regard, the development and harmonisation of hydrogen standards would play a critical role in making it for businesses to enter the green hydrogen market.
  • In addition, since India aims to be a global hub for green hydrogen in the coming decades, the synchronisation of standards across the value chain with global export markets is of the utmost importance.

Significance of Green Hydrogen:

  • Green Hydrogen, produced using renewable energy, has the potential to play a key role in such low-carbon and self-reliant economic pathways.
  • Green Hydrogen can enable utilization of domestically abundant renewable energy resources across regions, seasons, and sectors, feeding multiple usage streams, either as a fuel or as an industrial feedstock.
  • It can directly replace fossil fuel derived feedstocks in petroleum refning, fertilizer production, steel manufacturing etc.
  • Hydrogen fuelled long-haul automobiles and marine vessels can enable decarbonisation of the mobility sector.
  • Green Hydrogen can be particularly useful as a versatile energy carrier for meeting energy requirements of remote geographies, including islands, in a sustainable manner.

National Green Hydrogen Mission:

  • India has set its sight on becoming energy independent by 2047 and achieving Net Zero by 2070.
  • To achieve this target, increasing renewable energy use across all economic spheres is central to India's Energy Transition.
  • Green Hydrogen is considered a promising alternative for enabling this transition.
  • Hydrogen can be utilized for long-duration storage of renewable energy, replacement of fossil fuels in industry, clean transportation, and potentially also for decentralized power generation, aviation, and marine transport.
  • The National Green Hydrogen Mission was approved with the intended objectives of:
    • Making India a leading producer and supplier of Green Hydrogen in the world
    • Creation of export opportunities for Green Hydrogen and its derivatives
    • Reduction in dependence on imported fossil fuels and feedstock
    • Development of indigenous manufacturing capabilities
    • Attracting investment and business opportunities for the industry
    • Creating opportunities for employment and economic development
    • Supporting R&D projects

Mission outcomes:

The mission outcomes projected by 2030 are:

  • Development of green hydrogen production capacity of at least 5 MMT (Million Metric Tonne) per annum with an associated renewable energy capacity addition of about 125 GW in the country
  • Over Eight lakh crore in total investments
  • Creation of over Six lakh jobs
  • Cumulative reduction in fossil fuel imports over Rs. One lakh crore
  • Abatement of nearly 50 MMT of annual greenhouse gas emissions

World Water Week 2023

Context

World Water Week is a global event which is organised by the Stockholm International Water Institute is going to held from August 20 to 24, 2023 at the Waterfront Congress Center.

About World water week 2023:

  • Theme: “Seeds of Change: Innovative Solutions for a Water-Wise World”,
  • The event this year invites a rethink of how water is managed, and urges consideration of the ideas, innovations, and governance systems that are needed in an increasingly unstable and water scarce world.
  • World Water Week 2023 will draw on the latest scientific knowledge and experiences from around the world to explore how water can be a powerful tool for addressing the water crisis, global warming, biodiversity loss, and poverty.
  • The World Bank Group will convene and participate in multiple sessions on a wide range of topics, including digitalization for water utilities, tools for managing flood and drought risks, water services for refugees, and smart water management in rice cultivation.

Need of such initiative:

  • The world population is currently on the rise which has led to an increased demand for water.
  • Our natural water cycles are also currently being disrupted by man-made activities and climate change.
  • Improper water management, pollution, extraction of resources and infrastructure construction further aggravate negative impacts on our freshwater sources.
Significance:
  • Water is a necessity to sustain life on our planet. Clean water is required for drinking, sanitation, and providing for our crops.
  • The fresh water on our planet accounts for less than one per cent of the world’s water.
  • Fresh water can be found in rivers, lakes, wetlands, streams and even groundwater.
  • Despite having several sources, the freshwater levels on our planet are currently under threat.

India’s effort for Water Conservation:

  • Jal Jeevan Mission
  • Under the mission, the government aims to provide tapped water connections to all rural households by 2024.
  • The scheme also has a major focus on sensitizing the communities and implementing officers at all levels.
  • One of the stated key objectives is to “Take up all support activities like Information, Education and Communication (IEC), training, development of utilities, water quality laboratories, water quality testing and surveillance, research development, knowledge centres, capacity building of communities etc. to make the mission successful”.

Concerns:

  • As per government data, 22 per cent villages are yet to set up the Village Water Sanitation Committee which has the crucial responsibility of maintaining and overseeing the water supply on a day-to-day basis. Even the capacity of the members at the village level needs to be improved.
  • The programme has a robust dashboard where centralized progress of the scheme is pushed out for the general public. However, it does not locate the source sustainability structures like rainwater harvesting, groundwater recharge.

Short News Article

Polity and Governance

830 minority institutions on scholarship portal are fake

The Ministry of Minority Affairs has found at least 830 minority institutions registered with the National Scholarship Portal (NSP) to be either fake or non-operational.

What are minority Institutions?

  • Minority educational institution or “Minority Institution” means a college or institution established or maintained by a person or group of persons belonging to a minority, recognized as such by the concerned State Government/UT Administration.

Constitutional Provisions:

  • Right to Education under Article 21A: It describes modalities of the importance of free and compulsory education for children aged between 6-14 years in India under Article 21 (A) of the Constitution of India (86th Amendment).
  • Article 29 and 30 of Indian Constitution contain provisions securing rights of minorities and minority-run institutions.
  • Minority institutions have the Fundamental right under Article 30 of the Constitution to establish and administer their educational institutions according to their choice.

Polity and Governance

Promotion of Research and Innovation in Pharma MedTech Sector (PRIP)

The Department of Pharmaceuticals (DoP) has notified the Scheme for Promotion of Research and Innovation in Pharma-MedTech Sector (PRIP) with an outlay of Rs. 5,000 crore to support Research and development (R&D) and innovation in pharma, medical devices and animal health segments.

About the scheme:

  • The scheme has two components comprising strengthening of research infrastructure through establishment of seven National Institutes of Pharmaceutical Education & Research (NIPERs) as Centres of Excellence (CoEs) in specific specialisations and promotion of research in Pharma-MedTech sector by providing financial assistance for research in six priority areas
  • New chemical and biological entities, and natural products;
  • Complex generics and biosimilars;
  • Precision medicines; medical devices;
  • Orphan drugs; and
  • Drug development for antimicrobial resistance (AMR).
  • The Scheme proposes establishment of CoEs in the seven existing NIPERs at Mohali, Ahmedabad, Hyderabad, Guwahati, Kolkata, Hajipur and Raebareli at a tentative cost of Rs. 700 crore over a period of five years.
  • This will help in building specific research capacities in the identified priority areas in a focused time bound programme, tapping industry-academia linkage.
  • The CoEs will strengthen the research infrastructure in Pharma-MedTech sectors in the country by providing advanced facilities to conduct research and will also help in nurturing talent pool by promoting industry academia linkage.
  • Under the second component of promotion of research in pharma and MedTech sector, the financial assistance will be provided in three categories.
  • In the first category (BI), nine established pharma companies may be selected to carry out research in six priority areas with academic collaboration in government institute of national repute.

International Relations

The Spirit of Camp David

US President Joe Biden hosted the first-ever trilateral summit bringing together the leaders of the United States, Japan, and South Korea at Camp David in Maryland.

  • The summit resulted in a joint statement dubbed “The Spirit of Camp David”. 

About:

  • This is the first stand-alone trilateral summit among the three countries.
  • It was hosted by US and countries are intended to imbue the summit with special historic significance and symbolism. 
  • Irrespective of Chinese and North Korean posturing, this does not represent the kernel of a “NATO in Asia.”
  • The Spirit of Camp David statement issued by the three leaders is a political agreement, rather than a legal one requiring signature, but it nevertheless is a powerful document.
  • It represents a major effort to establish precedent, create momentum, and set the course for trilateral security cooperation among the three countries.

 

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