March 28, 2024 | Daily Current Affairs for UPSC/APSC
Tiger Triumph 2024 Exercise
The sea phase of the 'Tiger Triumph 2024' exercise has begun, involving the Indian Navy and the US Navy sailing together.
This phase focuses on various aspects of amphibious operations, including Humanitarian Assistance and Disaster Relief (HADR) and MEDEVAC.
Tiger Triumph 2024 is a bilateral, tri-service exercise between India and the US, scheduled from March 18 to 31.
The exercise aims to strengthen the strategic partnership between India and the US and share best practices in multinational HADR operations.
Sports engagements are scheduled to enhance camaraderie between the armed forces personnel of both nations.
Activities include setting up a joint command and control centre and a joint relief and medical camp.
Gramodyog Vikas Yojana
The Khadi and Village Industries Commission (KVIC) distributed essential equipment and tool-kits to artisans in Assam under the Gramodyog Vikas Yojana.
Items distributed included bee boxes, electric potter wheels, waste woodcraft tools, automatic agarbatti machinery, plumber tools kits, cane and bamboo tool kits, paper/leaf/plate and dona-making machines, and oil machines.
2% of India’s GDP Has The Potential to Generate Approximately 11 Million Jobs: FLO
According to a report by FICCI Ladies Organisation (FLO), direct public investment of 2% of India’s GDP has the potential to generate approximately 11 million jobs, with nearly 70% of these opportunities going to women.
FLO unveiled a roadmap for transforming India’s care economy, focusing on five key areas: leave policies, care service subsidies, investment in care infrastructure, skill training for care workers, and quality assurance mechanisms.
The Ministry of Labour and Employment in India is urged to support MSMEs and startups financially for maternity leave, revise parental leave policies, and promote care work leave and flexible work options.
FLO suggests introducing market-based financing for leave, such as parental leave insurance, and encourages employers to adopt gender-neutral care work leave and flexible work options.
Collaboration between government agencies and industry bodies is emphasised to promote these initiatives, especially among smaller businesses, with an emphasis on monitoring and sharing success stories.
The International Labour Organisation evidence suggests that increasing investments in the care services sector globally could generate 475 million jobs by 2030.
In India, care service subsidies and incentives are typically provided through government schemes like Mission Shakti, focusing on women's safety, security, and empowerment.
Suggestions for enhancing these schemes include broader financial support for childcare, elderly care, and long-term care services, particularly in rural and underserved areas.
Introduction of T+0 Settlement Cycle by BSE and NSE: Key Points
Stock exchanges BSE and NSE are set to introduce the beta version of the T+0 or same-day trade settlement on an optional basis for select stocks starting from Thursday.
This initiative will complement the existing T+1 settlement cycle in the equity cash market.
Initially, T+0 trade settlements will be available for a limited set of 25 scrips and with a restricted number of brokers.
T+0 settlement means transactions settled on the same day, aiming to enhance cost and time efficiency, increase transparency in charges to investors, and reinforce risk management at clearing corporations and the securities market ecosystem.
UN Report Highlights Global Food Waste Crisis: Key Points
An estimated 19% of the food produced globally in 2022, equivalent to about 1.05 billion metric tons, was wasted, according to a new United Nations report.
The UN Environment Programme's Food Waste Index Report, released on Wednesday, aims to track countries' progress in halving food waste by 2030.
The number of countries reporting for the index nearly doubled from the first report in 2021. In 2019, it was estimated that 17% of global food production was wasted.
The report, co-authored by UNEP and WRAP, an international charity, analysed country data on households, food service, and retailers. It found that each person wastes about 79 kilograms (174 pounds) of food annually, totaling at least 1 billion meals wasted worldwide daily.
The majority of food waste (60%) occurs in households, followed by food service (28%) and retailers (12%).
This issue is particularly concerning as 783 million people worldwide face chronic hunger, and many regions are experiencing deepening food crises.
Food waste has significant environmental consequences, contributing 8 to 10% of global greenhouse gas emissions. If food waste were a country, it would rank third in emissions after China and the US.
Food waste exacerbates food insecurity, especially among vulnerable populations who cannot afford healthy diets.
THE ASSAM TRIBUNE EDITORIAL SUMMARY
Protecting Ladakh's Fragile Ecology and Indigenous Culture: Sonam Wangchuk's Advocacy
Recurrent ecological disasters in Himalayan regions like Himachal Pradesh, Uttarakhand, and Sikkim underscore the vulnerability of this dynamic mountain range, which is still in the process of development.
Climate activist and education reformer, Sonam Wangchuk, has been advocating for ecological protection in Ladakh, emphasising the threat posed by unbridled industrial development and military activities.
Wangchuk warns that Ladakh's glaciers and mountains will be destroyed without proper checks on industrialization and military manoeuvres, as they are intricately linked to the well-being of over two billion people and multiple countries.
He highlights the encroachment by China, negatively impacting Ladakh's nomadic shepherds by depriving them of grazing land.
The abrogation of Article 370 in August 2019 resulted in Ladakh becoming a separate Union Territory without an elected legislature, raising concerns about the region's political autonomy and the potential exploitation of its resources by outsiders and corporate entities.
Wangchuk's hunger strike aims to protect Ladakh's fragile ecology and indigenous tribal culture, which faces the risk of degradation and assimilation.
Protesters demand statehood for Ladakh and the safeguarding of the rights of its tribal population under the Sixth Schedule of the Constitution.
They also seek reservation of jobs for Ladakhi youths, the creation of separate parliamentary constituencies, and inclusion in the Sixth Schedule, which would empower Ladakhi people to form autonomous district and regional councils with legislative powers over various subjects crucial for preserving their identity and heritage.
Assam Government Implements Second Liquor Tax Hike: Implications and Considerations
The State government of Assam has recently announced a second hike in liquor tax within a span of nine months, leading to an expected increase in liquor prices by 10 to 20 percent.
This hike is anticipated to generate an additional revenue of Rs 700 crore for the government, with the excise department already witnessing a growth of over 22 percent in revenue collections compared to the previous year.
Excise taxes play a crucial role in revenue generation for the Assam government, but the balance between revenue yield and public health concerns associated with alcohol consumption is complex.
While moderate alcohol consumption may have minimal health effects, studies suggest that there is no safe level of consumption, and excessive drinking can lead to serious health issues, violence, road accidents, etc.
Determining the optimal excise duty on liquor is challenging due to the varying health and social costs associated with different consumption patterns.
The design of excise taxes should aim to reduce externalities and internalities caused by alcohol consumption while still yielding revenue. Stricter controls on production, imports, and supply chains are necessary to prevent product arbitrage and illicit trade.
The local heritage beverage policy, aimed at promoting traditional ethnic beverages, has been slow to take off due to inherent flaws and strict regulations. The government should provide support and incentives to encourage entrepreneurship in this segment.
Separate guidelines tailored for Indian Made Foreign Liquor (IMFL) and heritage beverages are necessary, as adopting a one-size-fits-all approach may not be effective. Handholding, technical support, and incentives can help stimulate growth in the heritage beverage industry.
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