Article Tags

You searched “GS Paper - 3”. Your tag search matches the following results:

Tourism Sector In India

This article is based on “In our past lies our future… Indian tourism hasn’t marketed the precious assets embedded in our...

20 Jan 2021 GS Paper - 3
Open-RAN Architecture

Why in News Recently, Telecom Regulatory Authority of India (TRAI) Chairman said that use of Open-RAN (Radio Access Network) and software defined...

20 Jan 2021 GS Paper - 3
Indo-French Joint Exercise Desert Knight-21

Why in News Indian Air Force (IAF) and French Air and Space Force will conduct a bilateral Air exercise, Ex Desert Knight-21 at Air Force Station...

20 Jan 2021 GS Paper - 3
Carbon Sequestration

Why in News There has been increasing investments to develop technology in the field of Carbon Sequestration and fight the menace of climate...

20 Jan 2021 GS Paper - 3
SC Upholds Validity of IBC Amendment Act, 2020

Why in News Recently, the Supreme Court (SC) has upheld the constitutional validity of the Insolvency and Bankruptcy Code (IBC) (Amendment) Act,...

20 Jan 2021 GS Paper - 3
Bandipur Tiger Reserve

Why in News A stranded wild elephant was rescued in Nugu reservoir, close to Bandipur Tiger Reserve in Karnataka. According to the Tiger census...

20 Jan 2021 GS Paper - 3
Shadow Entrepreneurs

Why in News There has been a global rise of shadow entrepreneurship, in various sectors such as education (certificates), finance (for easy loans),...

20 Jan 2021 GS Paper - 3
Domestic Systemically Important Banks

Why in News The Reserve Bank of India (RBI) has retained State Bank of India, ICICI Bank and HDFC Bank as Domestic Systemically Important Banks...

20 Jan 2021 GS Paper - 3
Sustainable Mining

This article is based on “Mining in India equals selling the family gold” which was published in The Hindu on 19/01/2021. It talks...

19 Jan 2021 GS Paper - 3
North East Venture Fund

Why in News The Ministry of Development of North-East Region has recently given an update on the scheme North East Venture Fund. Key...

19 Jan 2021 GS Paper - 3
Bad Bank

Why in News Recently, the Reserve Bank of India (RBI) Governor has agreed to look at a proposal for creating a Bad Bank. Key Points About: A...

19 Jan 2021 GS Paper - 3
The Big Picture: India and the Vaccination Drive

Why in News? India began the "World's Largest Vaccination Program" on January 16, 2021. The Prime Minister of India said that India is entering...

19 Jan 2021 GS Paper - 3
Rooftop Solar Scheme

Why in News Recently, the Ministry of New and Renewable Energy (MNRE) has released an advisory on the rooftop solar scheme. Key...

19 Jan 2021 GS Paper - 3
Indian Star Tortoise

Why in News Recently, Indian star tortoises were seized while being smuggled from Andhra Pradesh to Odisha. Key points Habitat: Indian star...

19 Jan 2021 GS Paper - 3
Indian Railway Finance Corporation: IPO

Why in News The Initial Public Offering (IPO) of Indian Railway Finance Corporation (IRFC) got 65% subscription on the first day of...

19 Jan 2021 GS Paper - 3
Crowdfunding for Rare Diseases

Why in News Recently, the Delhi High Court has ordered the Ministry of Health and Family Welfare to explore Crowdfunding to help two children, who...

19 Jan 2021 GS Paper - 3
Government's Disinvestment Plans

Why in News Recently, the Ministry of Finance has extended the bidding deadlines for the strategic disinvestment of Pawan Hans by a month, citing...

18 Jan 2021 GS Paper - 3
5G Technology

Why in News Recently, the Department of Telecommunications (DoT) has sought inputs from telecom companies and other industry experts on the sale and...

18 Jan 2021 GS Paper - 3
India’s Trade Deficit with China at Five-year Low in 2020

Why in News The trade deficit, between India and China, declined to a five year-low of 45.8 billion USD in 2020, the lowest since 2015. Trade...

18 Jan 2021 GS Paper - 3
K-Shaped Economic Recovery

Why in News Recently, the latest readings of the Nomura India Normalization Index (NINI) suggested the impact of Covid-19 on Indian Economy and the...

18 Jan 2021 GS Paper - 3

Warning (2): count(): Parameter must be an array or an object that implements Countable [ROOT/plugins/Drishti/src/Template/Element/rightsection.ctp, line 100]

Code Context


<?php if(count($updates)>0){?>
  <div class="updates">

$viewFile = '/var/www/drishtiias.com/public_html/plugins/Drishti/src/Template/Element/rightsection.ctp'
$dataForView = [
	'progress' => [],
	'bookmarks' => [],
	'notes' => [],
	'mynote' => [],
	'topdata' => [
		(int) 0 => object(Cake\ORM\Entity) {},
		(int) 1 => object(Cake\ORM\Entity) {},
		(int) 2 => object(Cake\ORM\Entity) {},
		(int) 3 => object(Cake\ORM\Entity) {}
	],
	'searchdata' => [],
	'amonth' => 'January',
	'ayear' => '2021',
	'articles' => [
		(int) 0 => object(Cake\ORM\Entity) {},
		(int) 1 => object(Cake\ORM\Entity) {},
		(int) 2 => object(Cake\ORM\Entity) {},
		(int) 3 => object(Cake\ORM\Entity) {},
		(int) 4 => object(Cake\ORM\Entity) {},
		(int) 5 => object(Cake\ORM\Entity) {},
		(int) 6 => object(Cake\ORM\Entity) {},
		(int) 7 => object(Cake\ORM\Entity) {},
		(int) 8 => object(Cake\ORM\Entity) {},
		(int) 9 => object(Cake\ORM\Entity) {},
		(int) 10 => object(Cake\ORM\Entity) {},
		(int) 11 => object(Cake\ORM\Entity) {},
		(int) 12 => object(Cake\ORM\Entity) {},
		(int) 13 => object(Cake\ORM\Entity) {},
		(int) 14 => object(Cake\ORM\Entity) {},
		(int) 15 => object(Cake\ORM\Entity) {},
		(int) 16 => object(Cake\ORM\Entity) {},
		(int) 17 => object(Cake\ORM\Entity) {},
		(int) 18 => object(Cake\ORM\Entity) {},
		(int) 19 => object(Cake\ORM\Entity) {}
	],
	'tags' => [
		(int) 0 => object(Cake\ORM\Entity) {}
	],
	'title' => 'Article Tags'
]
$progress = []
$bookmarks = []
$notes = []
$mynote = []
$topdata = [
	(int) 0 => object(Cake\ORM\Entity) {

		'url' => 'https://www.drishtiias.com/estore/test-series-en/upsc-mains-english/sociology-optional-mains-online-en',
		'title' => 'Sociology Mains Test Series 2020 - Join Now',
		'type' => (int) 1,
		'date' => object(Cake\I18n\FrozenDate) {},
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'news'
	
	},
	(int) 1 => object(Cake\ORM\Entity) {

		'url' => 'https://www.drishtiias.com/estore/test-series-en/upsc-prelims-english/prelims-test-series-2021-online',
		'title' => 'Prelims Test Series 2021 (Online) - Join Now',
		'type' => (int) 1,
		'date' => object(Cake\I18n\FrozenDate) {},
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'news'
	
	},
	(int) 2 => object(Cake\ORM\Entity) {

		'url' => 'https://bit.ly/drishtibooks',
		'title' => 'Get Drishti Publications books & magazines on Amazon - click here!',
		'type' => (int) 1,
		'date' => object(Cake\I18n\FrozenDate) {},
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'news'
	
	},
	(int) 3 => object(Cake\ORM\Entity) {

		'url' => 'https://bit.ly/joindrishti',
		'title' => 'Click here for Online Inquiry form to join Drishti IAS programmes',
		'type' => (int) 1,
		'date' => object(Cake\I18n\FrozenDate) {},
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'news'
	
	}
]
$searchdata = []
$amonth = 'January'
$ayear = '2021'
$articles = [
	(int) 0 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7512,
		'category_id' => (int) 22,
		'title' => 'Tourism Sector In India',
		'description' => '<div class="border">
<p>This article is based on <a href="https://timesofindia.indiatimes.com/blogs/toi-edit-page/in-our-past-lies-our-future-indian-tourism-hasnt-marketed-the-precious-assets-embedded-in-our-heritage-to-full-potential/" target="_blank" rel="noopener"><strong>&ldquo;In our past lies our future&hellip; Indian tourism hasn&rsquo;t marketed the precious assets embedded in our heritage to full potential&rdquo;</strong></a> which was published in The Times of India on 19/01/2021. It talks about the constraints &amp; opportunities associated with the tourism sector in India.</p>
</div>
<p>The outbreak of the Covid-19 pandemic last year has brought almost all areas of the business to a standstill. Arguably, the worst affected has been the<a href="/to-the-points/paper3/tourism-in-india" target="_blank" rel="noopener"><strong> tourism and hospitality industry</strong></a>, which had to bear the brunt of lockdowns and social distancing.</p>
<p>According to the <a href="/daily-updates/daily-news-analysis/world-tourism-day#:~:text=reaching%20these%20goals.-,United%20Nations%20World%20Tourism%20Organisation,with%20headquarters%20at%20Madrid%2C%20Spain." target="_blank" rel="noopener"><strong>UN World Tourism Organization (UNWTO)</strong></a>, this is by far the worst crisis international tourism has faced since records began in 1950.</p>
<p>Now as the vaccines are available, life will return back to normalcy. Given this, India should seek to actively support the tourism sector, as the sector contributes an estimated 10% to the Indian economy and is our biggest ambassador to the world.</p>
<p>Further, India has inherent competitive advantages as it offers a diverse portfolio of niche tourism products - cruises, adventure, medical, wellness, sports, eco-tourism, film, rural and religious tourism. This competitive advantage will help India become a tourism hub in the world.</p>
<h3>Constraints in Tourism Sector</h3>
<ul style="list-style-type: square;">
<li><strong>Infrastructure and Connectivity:</strong> Deficiencies in infrastructure and inadequate connectivity hamper tourist visits to some heritage sites.<br />
<ul style="list-style-type: circle;">
<li>Also, India has various tourist destinations but few circuits or segments such as the Golden Triangle (Delhi-Agra-Jaipur).</li>
</ul>
</li>
<li><strong>Promotion and Marketing:</strong> Although it has been increasing, online marketing/branding remains limited and campaigns are not coordinated. <br />
<ul style="list-style-type: circle;">
<li>Tourist information centers are poorly managed, making it difficult for domestic and foreign tourists to access information with ease.</li>
</ul>
</li>
<li><strong>Lack of Skills:</strong> The number of adequately trained individuals for the tourism and hospitality sector is a key challenge to giving visitors a world-class experience. <br />
<ul style="list-style-type: circle;">
<li>A limited number of multilingual trained guides, and the limited local awareness and understanding of the benefits and responsibilities associated with tourist growth act as constraints on the sector&rsquo;s growth.</li>
</ul>
</li>
<li><strong>Underutilization of Tourism Potential:</strong> Out of 140 countries, India ranked 8<sup>th</sup> on cultural resources and business travel, 13<sup>th</sup> on price competitiveness, and 14<sup>th</sup> on natural resources in <a href="/daily-updates/daily-news-analysis/travel-and-tourism-competitiveness-index" target="_blank" rel="noopener"><strong>World Economic Forum&rsquo;s Travel &amp; Tourism Competitiveness Report 2019.</strong></a><br />
<ul style="list-style-type: circle;">
<li>Despite these superb rankings, India&rsquo;s overall tourism competitiveness ranking at 34 reveals that India has not monetized or marketed the precious assets embedded in its heritage to their full potential, as other countries do.</li>
</ul>
</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li><strong>One India One Tourism&rsquo; Approach:</strong> Tourism encompasses multiple ministries and takes place in and within states. <br />
<ul style="list-style-type: circle;">
<li>It thus requires a National Tourism Council, an empowered legislative body that will enable fast-tracking of Centre-state level tourism matters and will create a &lsquo;One India One Tourism&rsquo; approach.</li>
</ul>
</li>
<li><strong>Tourism Should be Declared as Infrastructure:</strong> Tourism infrastructure projects, viz., hotels, resorts, equipment, parks, etc., having a project cost more than Rs. 1 crore should be notified as &lsquo;infrastructure&rsquo; to enable promoters to avail loans on a priority basis.</li>
<li><strong>Skill Development:</strong> There is a need to connect local communities to tourism by encouraging them to set up small enterprises to supply the tourism industry.<br />
<ul style="list-style-type: circle;">
<li>Employment opportunities can be expanded by ensuring that investors and operators in the organized sector are encouraged to hire staff locally</li>
</ul>
</li>
<li><strong>Conservation of Heritage Sites:</strong> Conservation and development of all heritage sites should be undertaken and completed through either government funding or through NGOs/<a href="/daily-updates/daily-news-analysis/corporate-social-responsibility-csr-expenditure" target="_blank" rel="noopener"><strong>Corporate Social Responsibility</strong></a> (CSR) activities.<br />
<ul style="list-style-type: circle;">
<li>The Ministry of Tourism&rsquo;s <a href="/to-the-points/paper3/tourism-in-india" target="_blank" rel="noopener"><strong>Swadesh Darshan and National Mission on Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive (PRASHAD)</strong> </a>schemes are already undertaking the development or maintenance of heritage sites.</li>
</ul>
</li>
<li><strong>Promoting Ease of Tourism:</strong> To truly ensure a seamless tourist transportation experience we need to standardize all interstate road taxes and make them payable at a single point which will facilitate the ease of doing business.</li>
<li><strong>Incredible India 2.0:</strong> Given the diversity of tourism in India, there is a need to actively promote and market niche tourism like Buddhist circuit, Swadesh Darshan, Adventure tourism in Andaman and Nicobar Islands. <br />
<ul style="list-style-type: circle;">
<li>In this context, the Government of India can launch the Incredible India 2.0 campaign, which will promote tourism in 100 Smart &amp; Swachh Tourist Destination Sites.</li>
</ul>
</li>
</ul>
<h3>Conclusion</h3>
<p>Given opportunities in the Tourism sector, it can act as an engine to revive growth and showcases brand India to the world.</p>
<p><a href="http://www.drishtiias.com/images/uploads/1611146393_image4.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1611146393_image4.png" style="display: block; margin-left: auto; margin-right: auto;" width="700" caption="false" /></a></p>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr>
<td style="width: 100%; border-style: dotted; border-color: #ff0000; background-color: #fcfcf5;">
<p><span style="color: #333399;"><em><strong>Drishti Mains Question</strong></em></span></p>
<p>Given opportunities in the Tourism sector, it can act as an engine to revive growth and showcases brand India to the world. Discuss.</p>
</td>
</tr>
</tbody>
</table>
<p style="text-align: center;"><iframe width="560" height="315" src="https://www.youtube.com/embed/UuEi-Y_YBsQ" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe></p>
<p>This editorial is based on <strong><a href="/admin/articles/edit/&lt;iframe%20width=&quot;560&quot; height=&quot;315&quot; src=&quot;https:/www.youtube.com/embed/UuEi-Y_YBsQ&quot; frameborder=&quot;0&quot; allow=&quot;accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture&quot; allowfullscreen&gt;&lt;/iframe&gt;" target="_blank" rel="noopener">&ldquo;Whatever it takes: On govt. powers to combat vaccine hesitancy&rdquo;</a></strong> published in The Hindu on January 19<sup>th</sup>, 2020. Now watch this on our Youtube channel.</p>',
		'posturl' => 'tourism-sector-in-india',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 1 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7511,
		'category_id' => (int) 21,
		'title' => 'Open-RAN Architecture',
		'description' => '<h3>Why in News</h3>
<p>Recently, <a href="/daily-updates/daily-news-analysis/telecom-firms-oppose-trai%E2%80%99s-public-wi-fi-model" target="_blank" rel="noopener"><strong>Telecom Regulatory Authority of India (TRAI)</strong></a> Chairman said that use of <strong>Open-RAN (Radio Access Network)</strong> and software defined telecom networks will open new opportunities for Indian entities to enter into the network equipment market.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Open-RAN</strong> is not a technology, but rather an <strong>ongoing shift in mobile network architecture</strong> that allows networks to be built using subcomponents from a variety of vendors. <br />
<ul style="list-style-type: disc;">
<li>O-RAN has<strong> an open, multi-vendor architecture</strong> for deploying mobile networks, as <strong>opposed to the single-vendor proprietary architecture.</strong></li>
<li>O-RAN <strong>uses software to make hardware manufactured by different companies work together.</strong></li>
</ul>
</li>
<li>The key concept of Open RAN is<strong> &ldquo;opening&rdquo; the protocols and interfaces between the various subcomponents</strong> (radios, hardware and software) <strong>in the RAN.</strong><br />
<ul style="list-style-type: disc;">
<li><strong>Radio Access Network (RAN):</strong> <br />
<ul style="list-style-type: disc;">
<li>It is the<strong> part of a telecommunications system</strong> that connects individual devices to other parts of a network through radio connections.</li>
<li>A RAN resides between user equipment, such as a mobile phone, a computer or any remotely controlled machine, and <strong>provides the connection with its core network.</strong></li>
</ul>
</li>
</ul>
</li>
<li>As a technical matter this is what the industry refers to as<strong> a disaggregated RAN. </strong></li>
</ul>
</li>
<li><strong>Elements of RAN:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>The Radio Unit (RU)</strong> is where the radio frequency signals are transmitted, received, amplified and digitized. The RU is located near, or integrated into,the antenna.</li>
<li><strong>The Distributed Unit (DU)</strong> is where the real-time, baseband processing functions reside. The DU can be centralized or located near the cell site.</li>
<li><strong>The Centralized Unit (CU)</strong> is where the less time-sensitive packet processing functions typically reside.</li>
</ul>
</li>
<li><strong>Functioning of Open RAN:</strong><br />
<ul style="list-style-type: circle;">
<li>It is the interface between the <strong>RU, DU and the CU that are the main focus of Open RAN.</strong></li>
<li>By <strong>opening and standardizing these interfaces</strong> (among others in the network), and incentivizing implementation of the same, <strong>networks can be deployed with a more modular design</strong> without being dependent upon a single vendor.</li>
<li>Making these changes can also allow the DU and CU to be run as virtualized software functions on <strong>vendor-neutral hardware.</strong></li>
</ul>
</li>
<li><strong>Traditional RAN:</strong><br />
<ul style="list-style-type: circle;">
<li>In a traditional RAN system, <strong>the radio, hardware and software are proprietary.</strong> <br />
<ul style="list-style-type: disc;">
<li>This means that nearly<strong> all of the equipment comes from one supplier</strong> and that operators are unable to, for example, deploy a network using radios from one vendor with hardware and software from another vendor.</li>
</ul>
</li>
<li><strong>Problems:</strong><br />
<ul style="list-style-type: disc;">
<li>Mixing and matching cell sites from different providers typically leads to a <strong>performance reduction.</strong></li>
<li>The result is that most network operators, while supporting multiple RAN vendors, will deploy networks using a single vendor in a geographic region which can create vendor lock-in with high<strong> barriers to entry for new innovators.</strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Advantage of O-RAN:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Innovation and Options:</strong> <br />
<ul style="list-style-type: disc;">
<li>An open environment expands the ecosystem, and with more vendors providing the building blocks, there is more innovation and more options for the Operators. They can also add new services.</li>
</ul>
</li>
<li><strong>New Opportunities:</strong> <br />
<ul style="list-style-type: disc;">
<li>It will open new opportunities for Indian entities to enter into the network equipment market.</li>
</ul>
</li>
<li><strong>Cost Saving:</strong> <br />
<ul style="list-style-type: disc;">
<li>The benefits of this approach also include increased network agility and flexibility, and cost savings.</li>
<li>It&rsquo;s expected to make <a href="/daily-updates/daily-news-editorials/5g-is-india-prepared" target="_blank" rel="noopener"><strong>5G</strong></a> more flexible and cost efficient.</li>
</ul>
</li>
</ul>
</li>
</ul>
<p><a href="https://indianexpress.com/article/business/trai-chairman-open-ran-will-present-opportunities-7153590/" target="_blank" rel="noopener"><strong>Source:IE</strong></a></p>',
		'posturl' => 'open-ran-architecture',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 2 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7509,
		'category_id' => (int) 21,
		'title' => 'Indo-French Joint Exercise Desert Knight-21',
		'description' => '<h3>Why in News</h3>
<p><strong>Indian Air Force</strong> (IAF) and<strong> French Air and Space Force</strong> will conduct a<strong> bilateral Air exercise, Ex Desert Knight-21</strong> at Air Force Station<strong> Jodhpur</strong> from 20 to 24<sup>th</sup> Jan 2021.</p>
<p><a href="http://www.drishtiias.com/images/uploads/1611138299_image2.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1611138299_image2.png" style="display: block; margin-left: auto; margin-right: auto;" width="450" caption="false" /></a></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>The exercise is unique as it includes fielding of<a href="/daily-updates/daily-news-analysis/induction-of-french-rafale-aircrafts-in-iaf" target="_blank" rel="noopener"><strong> Rafale</strong> </a><strong>aircraft by both sides</strong> and is indicative of the <strong>growing interaction between the two premier Air Forces.</strong></li>
<li>Presently, the French detachment for Ex Desert Knight-21 is deployed in Asia as part of their <strong>'SKYROS Deployment'.</strong><br />
<ul style="list-style-type: circle;">
<li>Rafale fighter jets of India and France are carrying out <strong>wargames codenamed Exercise SKYROS.</strong></li>
<li>Beginning September 2020, the IAF has inducted and operationalised eight Rafale fighter jets of the 36 jets contracted from France in a 7.87-billion euro deal in 2016.</li>
</ul>
</li>
<li><strong>Defence Exercises between India and France:</strong><br />
<ul style="list-style-type: circle;">
<li>Varuna &ndash; Naval exercise</li>
<li>Garuda &ndash; Air exercise</li>
<li>Shakti &ndash; Army exercise</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Note:</strong></p>
<ul style="list-style-type: square;">
<li><strong>Gagan Shakti</strong> is conducted by the<strong> Indian Air Force</strong> to showcase its air dominance over the <strong>entire extended area of the Indian Ocean Region.</strong><br />
<ul style="list-style-type: circle;">
<li>It includes all terrain operations &ndash; <strong>desert, high altitude, maritime scenarios and special operations</strong> &ndash; in real time with specific focus on key areas like aerial combat, air to surface combat, paratrooper assault and medical evacuation.</li>
</ul>
</li>
<li><strong>Garuda Shakti</strong> is the <a href="/daily-updates/daily-news-analysis/exercise-maitree" target="_blank" rel="noopener"><strong>joint military exercise</strong></a> between <strong>India and Indonesia.</strong></li>
<li><strong>Mitra Shakti</strong> is the joint military exercise between <strong>India and Sri Lanka.</strong></li>
</ul>
</div>
<p><a href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1689893" target="_blank" rel="noopener"><strong>Source:PIB</strong></a></p>',
		'posturl' => 'indo-french-joint-exercise-desert-knight-21',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 3 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7507,
		'category_id' => (int) 21,
		'title' => 'Carbon Sequestration',
		'description' => '<h3>Why in News</h3>
<p>There has been<strong> increasing investments to develop technology</strong> in the field of <strong>Carbon Sequestration</strong> and fight the menace of <strong>climate change.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Need:</strong><br />
<ul style="list-style-type: circle;">
<li>As Global Warming accelerates and society continues to emit greenhouse gases, the idea is gaining of investing in <strong>artificial techniques of Carbon Sequestration.</strong></li>
<li>According to the <a href="/daily-updates/daily-news-analysis/special-report-on-climate-change-ipcc#:~:text=The%20Intergovernmental%20Panel%20on%20Climate,underway%20in%20the%20United%20States." target="_blank" rel="noopener"><strong>Intergovernmental Panel on Climate Change</strong></a>, nations may need to remove between<strong> 100 billion and 1 trillion tonnes of carbon dioxide</strong> from the atmosphere this century to <strong>avert the worst effects of climate change,</strong> far more than can be absorbed by simply planting more trees.</li>
</ul>
</li>
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>Carbon sequestration is the <strong>long-term storage of carbon in plants, soils, geologic formations, and the ocean.</strong></li>
<li>Carbon sequestration <strong>occurs both naturally and as a result of anthropogenic activities</strong> and typically refers to the storage of carbon.</li>
</ul>
</li>
<li><strong>Types:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Terrestrial Carbon Sequestration:</strong> <br />
<ul style="list-style-type: disc;">
<li>Terrestrial carbon sequestration is the process through which CO<sub>2</sub> from the atmosphere is <strong>absorbed by trees and plants through photosynthesis and stored as carbon</strong> in soils and biomass (tree trunks, branches, foliage, and roots)</li>
</ul>
</li>
<li><strong>Geologic Carbon Sequestration:</strong><br />
<ul style="list-style-type: disc;">
<li>CO<sub>2</sub> can be stored, including <strong>oil reservoirs, gas reservoirs, unmineable coal seams,</strong> saline formations and shale formations with high organic content.</li>
</ul>
</li>
<li><strong>Ocean Carbon Sequestration:</strong><br />
<ul style="list-style-type: disc;">
<li>Oceans absorb, release and store large amounts of CO<sub>2</sub> from the atmosphere. This can be done in two ways- <strong>enhancing productivity</strong> of ocean biological systems through<strong> Iron fertilization,</strong> and <strong>injecting CO<sub>2</sub></strong> into the deep ocean.</li>
<li>The dumping of iron stimulates phytoplankton production, which in turn leads to enhanced photosynthesis from these microorganisms, helping in CO<sub>2</sub> absorption.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Methods:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Natural Carbon Sequestration:</strong><br />
<ul style="list-style-type: disc;">
<li>It is the process by which nature has achieved a<strong> balance of carbon dioxide in our atmosphere suitable</strong> for sustaining life. Animals expel carbon dioxide, as do plants during the night.</li>
<li>Nature provided <strong>trees, the oceans, earth and the animals themselves as carbon sinks, or sponges.</strong> All organic life on this planet is carbon based and when plants and animals die, much of the carbon goes back into the ground where it has little impact on contributing to global warming.</li>
</ul>
</li>
<li><strong>Artificial Carbon Sequestration:</strong><br />
<ul style="list-style-type: disc;">
<li>Artificial carbon sequestration refers to a <strong>number of processes</strong> whereby <strong>carbon emissions</strong> are <strong>captured at the point of production (e.g. Factory Chimneys) and then buried.</strong></li>
<li>One proposed method is ocean sequestration whereby carbon dioxide is<strong> injected deep into the ocean,</strong> forming<strong> lakes of CO<sub>2</sub>.</strong> In theory, the CO<sub>2</sub> will stay down deep due to the pressure and temperature of the surrounding water, gradually dissolving into that water over time.</li>
<li>Another example is <strong>geological sequestration</strong> where the carbon dioxide is <strong>pumped into underground chambers such as old oil reservoirs, aquifers and coal seams that are unable to be mined.</strong></li>
</ul>
</li>
<li><strong>Challenges of Artificial Carbon Sequestration:</strong><br />
<ul style="list-style-type: disc;">
<li><strong>Lack of technology:</strong><br />
<ul style="list-style-type: disc;">
<li>A growing number of corporations are pouring money into so-called engineered carbon removal techniques.</li>
<li>However, these technologies are at a <strong>nascent stage</strong> and need an <strong>overhaul to be exploited.</strong></li>
</ul>
</li>
<li><strong>High Cost:</strong><br />
<ul style="list-style-type: disc;">
<li>Carbon removal technologies remain <strong>too expensive for widespread use.</strong></li>
<li>Artificial carbon sequestration is <strong>costly, energy intensive, relatively untested </strong>and has <strong>no other side benefits.</strong></li>
</ul>
</li>
<li><strong>Environmental Concerns:</strong><br />
<ul style="list-style-type: disc;">
<li>Carbon dioxide may be stored deep underground. Reservoir design faults, rock fissures, and tectonic processes may act to release the gas stored into the ocean or atmosphere leading to unintended consequences such as<strong> ocean acidification</strong> etc.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Potential of Artificial Carbon Sequestration:</strong><br />
<ul style="list-style-type: disc;">
<li><strong>Faster Sequestration:</strong> <br />
<ul style="list-style-type: disc;">
<li>Natural sequestration is a slow process compared to artificial sequestration. Thus it can complement natural sequestering to achieve goals which are necessary to fight climate change.</li>
</ul>
</li>
<li><strong>Increase in Productivity:</strong><br />
<ul style="list-style-type: disc;">
<li>Enhanced agricultural yield and better oil recovery as a result of stored carbon in underground chambers such as old oil reservoirs, aquifers and coal seams.</li>
</ul>
</li>
<li><strong>Employment Generation:</strong><br />
<ul style="list-style-type: disc;">
<li>This new and emerging field is attracting private players and venture capitalists, which in turn can help in employment generation.</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
</ul>',
		'posturl' => 'carbon-sequestration',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 4 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7506,
		'category_id' => (int) 21,
		'title' => 'SC Upholds Validity of IBC Amendment Act, 2020',
		'description' => '<h3>Why in News</h3>
<p>Recently, the <strong><a href="/important-institutions/drishti-specials-important-institutions-national-institutions/supreme-court-of-india" target="_blank" rel="noopener">Supreme Court</a> (SC)</strong> has upheld the constitutional validity of the <strong><a href="/to-the-points/paper3/insolvency-and-bankruptcy-code-3#:~:text=To%20consolidate%20and%20amend%20all,in%20a%20time%2Dbound%20manner." target="_blank" rel="noopener">Insolvency and Bankruptcy Code (IBC)</a> (Amendment) Act, 2020.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Background:</strong><br />
<ul style="list-style-type: circle;">
<li>In its August 2019 order, the SC had<strong> upheld the government decision to grant home-buyers the status of financial creditors.</strong> <br />
<ul style="list-style-type: disc;">
<li><strong>Financial creditor:</strong> It means any person to whom a &lsquo;financial debt&rsquo; is owed and includes a person to whom such debt has been legally assigned or transferred to.</li>
</ul>
</li>
<li>Subsequently, the <strong>government introduced the IBC (Amendment) Act, 2020, that mandated a threshold of at least 10% of home-buyers</strong> (or allottees) <strong>in a project or 100 of the total allottees</strong> for initiating insolvency proceedings against the real estate developer. <br />
<ul style="list-style-type: disc;">
<li>It means that <strong>a single home-buyer is barred from approaching the <a href="/daily-updates/daily-news-analysis/national-company-law-appellate-tribunal-nclat-1#:~:text=The%20NCLAT%20was%20constituted%20under,adjudicates%20issues%20relating%20to%20companies." target="_blank" rel="noopener">National Company Law Tribunal (NCLT)</a></strong> under Section 7 of the IBC to initiate insolvency proceedings against the real estate developer/builder.</li>
<li>Section 3 of the Amendment Act allows <strong>home-buyers to seek the <a href="/current-affairs-news-analysis-editorials/news-analysis/16-11-2019" target="_blank" rel="noopener">Corporate Insolvency Resolution Process (CIRP)</a></strong> against builders<strong> only when 100 allottees or at least 10% of allottees</strong> make a joint application to NCLT.<br />
<ul style="list-style-type: disc;">
<li>The<strong> allottees should be from the same real estate project.</strong> Aggrieved allottees drawn from different projects of the same developer cannot form the 100.</li>
</ul>
</li>
<li>A <strong>30-day deadline</strong> was given for existing applicants to find the requisite number of supporters to meet the threshold of 100, <strong>else their plea pending in the tribunal even before the commencement of the 2020 Act would be deemed as withdrawn.</strong></li>
</ul>
</li>
<li>This was <strong>done to prevent real estate projects from being stalled by few disappointed home-buyers/investors.</strong></li>
</ul>
</li>
<li><strong>SC&rsquo;s Ruling:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Threshold:</strong> <br />
<ul style="list-style-type: disc;">
<li>SC said that insisting on a threshold in regard to these categories of creditors would <strong>stop indiscriminate litigation.</strong></li>
<li>The court agreed with the legislature that <strong>having a single allottee approach the tribunal would be risky,</strong> considering that a corporate insolvency resolution may also entail a complete overhaul or replacement of the developer&rsquo;s company management.<br />
<ul style="list-style-type: disc;">
<li>Such an initiative by a lone allottee would <strong>derail the plans of other allottees,</strong> who still had faith in the existing developer or were pursuing other legal remedies.</li>
</ul>
</li>
<li>The amendment reflects an attempt at<strong> shielding corporate debtors (Real Estate Developers) from what it considers would be either for frivolous or avoidable applications.</strong></li>
</ul>
</li>
<li><strong>Consensus of Creditors:</strong><br />
<ul style="list-style-type: disc;">
<li>The amendment is likely to ensure that the filing of the application is preceded by a <strong>consensus at least by a minuscule percentage of similarly placed creditors.</strong></li>
</ul>
</li>
<li><strong>Allotment:</strong> <br />
<ul style="list-style-type: disc;">
<li>It does not matter whether a person has one or more allotments in his name or in the name of his family members.</li>
<li><strong>As long as there are independent allotments made to him or his family members, all of them would qualify as separate allottees and they would count both in the calculation of the total allotments,</strong> as also in reckoning the figure of hundred allottees or one-tenth of the allottees.</li>
</ul>
</li>
</ul>
</li>
</ul>
<h3>Insolvency and Bankruptcy Code</h3>
<ul style="list-style-type: square;">
<li><strong>Enactment:</strong> <br />
<ul style="list-style-type: circle;">
<li>The IBC was enacted in <strong>2016.</strong></li>
</ul>
</li>
<li><strong>Objective:</strong> <br />
<ul style="list-style-type: circle;">
<li>To <strong>streamline and speed up the resolution process</strong> of failed businesses.</li>
<li>To<strong> consolidate provisions of the existing legislative framework</strong> to form a common forum for debtors and creditors of all classes to resolve insolvency.</li>
<li>To stipulate that the resolution process of a stressed company will have to be completed in a maximum of <strong>270 days.</strong></li>
</ul>
</li>
<li><strong>Threshold Amount for Invoking Insolvency:</strong><br />
<ul style="list-style-type: circle;">
<li>In March 2020, the government raised the threshold for invoking insolvency under the IBC to<strong> Rs. 1 crore from Rs. 1 lakh</strong> with a view to prevent triggering of such proceedings against small and medium enterprises that are facing the heat of the Covid-19 pandemic.</li>
</ul>
</li>
<li><strong>Institutions to Facilitate Resolution of Insolvency:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Insolvency Professionals:</strong>
<ul style="list-style-type: disc;">
<li>These professionals <strong>administer the resolution process, manage the assets of the debtor, and provide information for creditors to assist them in decision making.</strong></li>
</ul>
</li>
<li><strong>Insolvency Professional Agencies:</strong>
<ul style="list-style-type: disc;">
<li>The agencies <strong>conduct examinations to certify the insolvency professionals</strong> and enforce a code of conduct for their performance.</li>
</ul>
</li>
<li><strong>Information Utilities:</strong>
<ul style="list-style-type: disc;">
<li>Creditors will report financial information of the debt owed to them by the debtor. Such information will include records of debt, liabilities and defaults.</li>
</ul>
</li>
<li><strong>Adjudicating Authorities:</strong>
<ul style="list-style-type: disc;">
<li>The proceedings of the resolution process is <strong>adjudicated by the NCLT,</strong> for companies; and the<a href="/daily-updates/daily-news-analysis/delay-in-resolutions-under-ibc" target="_blank" rel="noopener"><strong> Debt Recovery Tribunal (DRT)</strong></a>, for individuals.</li>
<li>The duties of the authorities will include <strong>approval to initiate the resolution process, appoint the insolvency professional, and approve the final decision of creditors.</strong></li>
</ul>
</li>
<li><strong>Insolvency and Bankruptcy Board:</strong>
<ul style="list-style-type: disc;">
<li>The Board <strong>regulates insolvency professionals, insolvency professional agencies and information utilities</strong> set up under the Code.</li>
<li>The Board consists of representatives of the <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/important-institutions-national-institution-reserve-bank-of-india" target="_blank" rel="noopener"><strong>Reserve Bank of India</strong></a>, and the Ministries of Finance, Corporate Affairs and Law.</li>
</ul>
</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Note:</strong></p>
<ul style="list-style-type: square;">
<li><strong>Insolvency:</strong> It is a situation where individuals or companies are unable to repay their outstanding debt.</li>
<li><strong>Bankruptcy:</strong> It is a situation whereby a court of competent jurisdiction has declared a person or other entity insolvent, having passed appropriate orders to resolve it and protect the rights of the creditors. It is a legal declaration of one&rsquo;s inability to pay off debts.</li>
</ul>
</div>
<p><strong><a href="https://indianexpress.com/article/business/supreme-courtb-upholds-threshold-for-homebuyers-to-move-nclt-7153592/" target="_blank" rel="noopener">Source:IE</a></strong></p>',
		'posturl' => 'sc-upholds-validity-of-ibc-amendment-act-2020',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 5 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7505,
		'category_id' => (int) 21,
		'title' => 'Bandipur Tiger Reserve',
		'description' => '<h3>Why in News</h3>
<p>A stranded wild elephant was rescued in Nugu reservoir, close to <strong>Bandipur Tiger Reserve</strong> in Karnataka.</p>
<ul style="list-style-type: square;">
<li>According to the <a href="/daily-updates/daily-news-analysis/tiger-census-report" target="_blank" rel="noopener"><strong>Tiger census 2018</strong></a>, Karnataka has the second highest number of tigers in the country after Madhya Pradesh.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Establishment:</strong> It was established in 1973 under <a href="/daily-updates/daily-news-analysis/status-of-conservation-of-tigers" target="_blank" rel="noopener"><strong>Project Tiger</strong></a>. In 1985, by including adjacent areas from <strong>Venugopala Wildlife Park,</strong> it was enlarged and named as Bandipur National Park.</li>
<li><strong>Location:</strong> It is situated in two contiguous districts (Mysore and Chamarajanagar) of Karnataka and is located at the<strong> tri-junction area of the States Karnataka, Tamil Nadu and Kerala.</strong> It forms a part of <strong>Nilgiri <a href="/to-the-points/paper3/biosphere-reserves-in-india" target="_blank" rel="noopener">Biosphere Reserve</a>.</strong></li>
<li><strong>Ecological Diversity:</strong> It lies in one of the richest biodiversity areas of the country. It is surrounded by<br />
<ul style="list-style-type: circle;">
<li><strong><a href="/daily-updates/daily-news-analysis/joint-effort-to-conserve-wildlife-at-bandipur" target="_blank" rel="noopener">Mudumalai Tiger Reserve</a></strong> (Tamil Nadu) in the South,</li>
<li><a href="/daily-updates/daily-news-analysis/important-facts-for-prelims-8th-january-2019-" target="_blank" rel="noopener"><strong>Wayanad Wildlife Sanctuary</strong> </a>(Kerala) in the South-west &amp;</li>
<li>The<strong> Kabini Reservoir</strong> separates the Bandipur and Nagarahole Tiger Reserve on the North-west.</li>
</ul>
</li>
<li><strong>Biodiversity:</strong> It is endowed with rich floral and faunal diversity and is recognized as one of the <strong>Mega Biodiversity Areas in the country.</strong><br />
<ul style="list-style-type: circle;">
<li>The Bandipur along with Nagarahole, Mudumalai, Sathyamangalam &amp; Wayanad constitutes the single<strong> largest Wild population of Tigers in the world.</strong></li>
<li>This Landscape is also home to the<strong> single largest Asian Elephant population</strong> in the world and is part of the <strong>Mysore Elephant Reserve (MER).</strong></li>
</ul>
</li>
<li><strong>Rivers and the Highest Point:</strong> The park is located between the<strong> Kabini river</strong> in the north and the <strong>Moyar river</strong> in the south. The <strong>Nugu river</strong> runs through the park. The highest point in the park is on a hill called<strong> Himavad Gopalaswamy Betta.</strong></li>
<li><strong>Other Tiger Reserves in Karnataka:</strong><br />
<ul style="list-style-type: circle;">
<li>Bhadra Tiger Reserve</li>
<li><a href="/daily-updates/daily-news-analysis/nagarahole-national-park-karnataka" target="_blank" rel="noopener"><strong>Nagarahole Tiger Reserve</strong></a></li>
<li><a href="/daily-updates/daily-news-analysis/hubli-ankola-railway-line-project" target="_blank" rel="noopener"><strong>Dandeli-Anshi Tiger Reserve</strong></a></li>
<li>Biligiriranganatha Swamy Temple(BRT) Tiger Reserve</li>
<li>Besides, <a href="/daily-updates/daily-news-analysis/malai-mahadeshwara-wildlife-sanctuary" target="_blank" rel="noopener"><strong>Malai Mahadeshwara Wildlife Sanctuary</strong></a> has been proposed to be made a tiger reserve.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Asian Elephants</strong></p>
<ul style="list-style-type: square;">
<li><strong>Subspecies:</strong> There are<strong> three subspecies</strong> of Asian elephant which are the Indian, Sumatran and Sri Lankan.</li>
<li><strong>Protection Status:</strong><br />
<ul style="list-style-type: circle;">
<li><strong><a href="/daily-updates/daily-news-analysis/iucn-red-list#:~:text=The%20IUCN%20Red%20List%20of,of%20plant%20and%20animal%20species.&amp;text=Critically%20Endangered%20(CR)%2C%20Endangered,to%20be%20threatened%20with%20extinction." target="_blank" rel="noopener">IUCN Red List Status</a>:</strong> Endangered.</li>
<li><strong><a href="/daily-updates/daily-news-analysis/wild-life-protection-act-implementation-and-failure" target="_blank" rel="noopener">Wildlife (Protection) Act, 1972</a>:</strong> Schedule I.</li>
</ul>
</li>
<li><strong>Conservation Efforts:</strong><br />
<ul style="list-style-type: circle;">
<li>Gaj Yatra.</li>
<li><a href="/daily-updates/daily-news-analysis/electrocution-of-elephants#:~:text=The%20Monitoring%20the%20Killing%20of,effectiveness%20of%20field%20conservation%20efforts." target="_blank" rel="noopener"><strong>The Monitoring the Illegal Killing of Elephants (MIKE) programme.</strong></a></li>
<li><a href="/daily-updates/daily-news-analysis/world-elephant-day-1" target="_blank" rel="noopener"><strong>Project Elephant.</strong></a></li>
</ul>
</li>
</ul>
</div>
<p><a href="https://www.thehindu.com/news/national/karnataka/wild-elephant-caught-in-fishing-nets-rescued/article33612305.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
		'posturl' => 'bandipur-tiger-reserve-2',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 6 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7504,
		'category_id' => (int) 21,
		'title' => 'Shadow Entrepreneurs',
		'description' => '<h3>Why in News</h3>
<p>There has been a<strong> global rise of shadow entrepreneurship,</strong> in various sectors such as<strong> education</strong> (certificates), <strong>finance</strong> (for easy loans), <strong>the betting economy</strong> (online games) and <strong>healthcare</strong> (e-pharmacies).</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Shadow entrepreneurs</strong> are individuals <strong>who manage a business that sells legitimate goods and services</strong> but they <strong>do not register their businesses.</strong></li>
<li>This means that they <strong>do not pay tax,</strong> operating in a shadow economy where <strong>business activities are performed outside the reach of government authorities.</strong></li>
<li>Types of businesses include <strong>unlicensed taxicab services, roadside food stalls and small landscaping operations.</strong></li>
<li>In a study of 68 countries, the<strong> Imperial College Business School</strong> found that after Indonesia, India has the<strong> second highest rate of shadow entrepreneurs.</strong></li>
</ul>
</li>
<li><strong>Causes for Rise in Shadow entrepreneurs:</strong> <br />
<ul style="list-style-type: circle;">
<li><strong>Taxation &amp; Enforcement: High tax rates</strong> accompanied by <strong>loose enforcement </strong>induces<strong> tax avoidance, discourage investment in formal businesses,</strong> and drive entrepreneurial activity toward the informal sector.</li>
<li><strong>Impact of Covid-19:</strong> Shadow entrepreneurs, offering<strong> technology-mediated services,</strong> bring complementary services that traditional service providers may be constrained to offer or consumers <strong>might not be able to access</strong> due to lockdown constraints.</li>
<li><strong>Technological Advancements:</strong> Shadow entrepreneurship is also promoted through technology-enabled new markets and also entry of new and tech savvy consumers.</li>
</ul>
</li>
<li><strong>Benefits:</strong> <br />
<ul style="list-style-type: circle;">
<li>Increase in employment: Most of Informal sector jobs come under shadow entrepreneurship.</li>
<li>Driver of economic development</li>
<li>Reduction in Poverty</li>
<li>Removes pressure on agriculture by providing non agricultural jobs.</li>
<li>Diversified options for consumers</li>
</ul>
</li>
<li><strong>Challenges of Shadow Entrepreneurs:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Decrease Competitiveness:</strong> <br />
<ul style="list-style-type: disc;">
<li>Small firms will get acquired by large firms. First movers in the space with deep pockets could generate irrationally high valuations.</li>
</ul>
</li>
<li><strong>Dubious &amp; illegal:</strong><br />
<ul style="list-style-type: disc;">
<li>Recent events related to app-based loan providers who charge very high interest rates and dubious methods for recovery.</li>
</ul>
</li>
<li><strong>Economic Loss:</strong> <br />
<ul style="list-style-type: disc;">
<li>Loss of revenue as these businesses are not registered with the government.</li>
</ul>
</li>
<li><strong>Corruption:</strong> <br />
<ul style="list-style-type: disc;">
<li>They are beyond the reach of law making them vulnerable to corrupt officials.</li>
</ul>
</li>
<li><strong>Asset Size:</strong> <br />
<ul style="list-style-type: disc;">
<li>Informal entrepreneurs tend to invest in their businesses much less intensively than the formal ones, which implies that formality is positively correlated with asset size.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Suggestions:</strong> <br />
<ul style="list-style-type: circle;">
<li><strong>Formalisation of Economy:</strong> Where proper economic and political frameworks are in place, individuals are more likely to become &lsquo;formal&rsquo; entrepreneurs and register their business, because doing so enables them to take advantage of laws and regulations that protect their company.</li>
<li><strong>Monitoring:</strong> Strong monitoring of quality would be essential. This needs to be complemented with<strong> non-compliance being punishable with a jail term,</strong> clamping down on services and related strict consequences.</li>
<li><strong>Reward Compliance:</strong> Those shadow firms that comply should be welcome to join the dominant mode of service delivery with non-shadow firms.</li>
<li><strong>Coordination among Agencies:</strong> There also needs to be better coordination of <strong>activities between authorities of governments</strong> (for example the Ministry of Corporate Affairs in regulating shadow entrepreneurship and government departments in healthcare, education or finance).</li>
</ul>
</li>
</ul>
<p><a href="https://www.thehindu.com/opinion/op-ed/rise-of-shadow-entrepreneurship/article33594643.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
		'posturl' => 'shadow-entrepreneurs',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 7 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7503,
		'category_id' => (int) 21,
		'title' => 'Domestic Systemically Important Banks',
		'description' => '<h3>Why in News</h3>
<p>The<a href="/important-institutions/drishti-specials-important-institutions-national-institutions/important-institutions-national-institution-reserve-bank-of-india" target="_blank" rel="noopener"><strong> Reserve Bank of India (RBI)</strong> </a>has retained <strong>State Bank of India, ICICI Bank and HDFC Bank as Domestic Systemically Important Banks (D-SIBs)</strong> or banks that are<strong> considered as &ldquo;too big to fail&rdquo;.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Systemically Important Banks (SIBs):</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Some banks,</strong> due to their<strong> size, cross-jurisdictional activities, complexity, lack of substitutability and interconnectedness,</strong> become <strong>systemically important.</strong></li>
<li>SIBs are perceived as banks that are<strong> &lsquo;Too Big To Fail (TBTF)&rsquo;.</strong> This perception of TBTF creates <strong>an expectation of government support for these banks</strong> at the time of distress. <br />
<ul style="list-style-type: disc;">
<li>SIBs are <strong>subjected to additional policy measures</strong> to deal with the <strong>systemic risks</strong> and<strong> moral hazard</strong> issues posed by them.</li>
<li><strong>Systemic risk</strong> can be defined as the risk associated with the collapse or failure of a company, industry, financial institution or an entire economy.</li>
<li><strong>Moral hazard</strong> is a situation in which one party gets involved in a risky event knowing that it is protected against the risk and the other party will incur the cost.</li>
</ul>
</li>
<li>The disorderly failure of these banks has the<strong> potential to cause significant disruption to the essential services</strong> they provide to the banking system, and in turn, to the <strong>overall economic activity. </strong></li>
</ul>
</li>
<li><strong>Background:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>G-SIBs:</strong> The<strong> Financial Stability Board (FSB),</strong> in consultation with the <strong><a href="/to-the-points/paper3/basel-norms" target="_blank" rel="noopener">Basel Committee on Banking Supervision</a> (BCBS)</strong> and national authorities, has <strong>identified Global Systemically Important Banks (G-SIBs)</strong> since 2011. <br />
<ul style="list-style-type: disc;">
<li><strong>Financial Stability Board (FSB)</strong> is an international body that monitors and makes recommendations about the global financial system. It was established in 2009. <strong>India</strong> is a <strong>member.</strong></li>
<li><strong>BCBS</strong> publishes the<strong> methodology</strong> for assessing and identifying G-SIBs.</li>
<li><strong>BCBS</strong> is the primary global standard setter for the prudential regulation of banks. <strong>RBI</strong> is its <strong>member.</strong></li>
</ul>
</li>
<li><strong>G-SIIs:</strong> The <strong>FSB,</strong> in consultation with the <strong>International Association of Insurance Supervisors (IAIS)</strong> and national authorities, began identifying <strong>Global Systemically Important Insurers (G-SIIs)</strong> in 2013.<br />
<ul style="list-style-type: disc;">
<li><strong>IAIS,</strong> established in 1994, is a<strong> voluntary membership organization</strong> of insurance supervisors and regulators from more than 200 jurisdictions, constituting 97% of the world's insurance premiums. <br />
<ul style="list-style-type: disc;">
<li><a href="/daily-updates/daily-news-analysis/sandbox-for-fintech" target="_blank" rel="noopener"><strong>Insurance Regulatory and Development Authority of India</strong></a> (IRDAI) and the<a href="/daily-updates/daily-news-analysis/international-financial-services-centres-authority-1" target="_blank" rel="noopener"><strong> International Financial Services Centres Authority</strong> </a><strong>(IFSCRA) </strong>are its <strong>members.</strong></li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
<li><strong>Domestic Systemically Important Banks (D-SIBs):</strong><br />
<ul style="list-style-type: circle;">
<li>The<strong> BCBS</strong> finalized its framework for dealing with <strong>D-SIBs</strong> in October 2012. The D-SIB framework <strong>focuses on the impact that the distress or failure of banks will have on the domestic economy.</strong></li>
<li>As opposed to the G-SIB framework, D-SIB framework is<strong> based on the assessment conducted by the national authorities,</strong> who are best placed to evaluate the impact of failure on the local financial system and the local economy.</li>
<li>The <strong>RBI</strong> had <strong>issued the framework for dealing with D-SIB in 2014.</strong> The D-SIB framework <strong>requires the Reserve Bank to disclose the names of banks designated as D-SIBs</strong> starting from 2015 and place these banks in appropriate buckets depending upon their Systemic Importance Scores (SISs). <br />
<ul style="list-style-type: disc;">
<li>The <strong>indicators</strong> which are <strong>used for assessment</strong> are: <strong>size, interconnectedness, substitutability and complexity.</strong></li>
<li>Based on their systemic importance scores in ascending order, banks are plotted into <strong>four different buckets</strong> and are required to have <strong>additional Common Equity Tier 1 Capital (CET1)</strong> requirements ranging from <strong>0.20% to 0.80% of risk weighted assets (RWA).</strong><br />
<ul style="list-style-type: disc;">
<li><strong>CET1</strong> is the highest quality of regulatory capital, as it absorbs losses immediately when they occur. It is a<strong> capital measure introduced in 2014</strong> globally as a precautionary means to protect the economy from a financial crisis.</li>
<li><strong>RWA,</strong> are used to link the minimum amount of capital that banks must have, with the risk profile of the bank&rsquo;s lending activities (and other assets).</li>
</ul>
</li>
<li>In case<strong> a foreign bank</strong> having branch presence in India is a <strong>Global Systemically Important Bank (G-SIB),</strong> it has to maintain <strong>additional CET1 capital surcharge</strong> in India as applicable to it as a G-SIB, proportionate to its Risk Weighted Assets (RWAs) in India.</li>
</ul>
</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Domestic Systemically Important Insurers</strong></p>
<ul style="list-style-type: square;">
<li>The<strong> Life Insurance Corporation of India (LIC), General Insurance Corporation of India</strong> and <strong>The New India Assurance Co</strong> have been identified as <a href="/daily-updates/daily-news-analysis/domestic-systemically-important-insurers#:~:text=The%20Life%20Insurance%20Corporation%20of,Authority%20of%20India%20(IRDAI)." target="_blank" rel="noopener"><strong>Domestic Systemically Important Insurers (D-SIIs)</strong></a> for 2020-21 <strong>by Insurance Regulatory and Development Authority of India</strong> (IRDAI).</li>
<li><strong>D-SIIs refer</strong> to insurers of such size, market importance and domestic and global interconnectedness whose distress or failure would cause a significant dislocation in the domestic financial system.</li>
<li>IRDAI, <strong>just like the banking regulator RBI did to identify such &ldquo;too big to fail&rdquo; banks and <a href="/daily-updates/daily-news-editorials/shadow-banking-and-the-crisis-in-the-indian-economy" target="_blank" rel="noopener">NBFCs</a></strong>, had endeavored to identify such companies in the insurance business in the March of 2019, in the <strong>aftermath of the <a href="/daily-updates/daily-news-editorials/the-yes-bank-crisis" target="_blank" rel="noopener">collapse of IL&amp;FS</a></strong> which triggered a massive liquidity crisis in the financial markets.</li>
<li>The<strong> International Association of Insurance Supervisors (IAIS)</strong> has also asked all member countries to have a regulatory framework to deal with Domestic-SIIs.</li>
</ul>
</div>
<p><a href="https://indianexpress.com/article/business/banking-and-finance/too-big-to-fail-list-sbi-icici-bank-hdfc-bank-remain-7153597/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
		'posturl' => 'domestic-systemically-important-banks',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 8 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7502,
		'category_id' => (int) 22,
		'title' => 'Sustainable Mining',
		'description' => '<div class="border">
<p>This article is based on <a href="https://www.thehindu.com/opinion/op-ed/mining-in-india-equals-selling-the-family-gold/article33603635.ece" target="_blank" rel="noopener"><strong>&ldquo;Mining in India equals selling the family gold&rdquo;</strong></a> which was published in The Hindu on 19/01/2021. It talks about the issues related to the present state of mining practices and the need to adopt sustainable mining.</p>
</div>
<p>India&rsquo;s National Mineral Policy 2019 states that &ldquo;natural resources, including minerals, are a shared inheritance where the state is the trustee on behalf of the people to ensure that future generations receive the benefit of inheritance.&rdquo;</p>
<p>However, mining is the act of removing and consuming a limited resource. Moreover, the Government of India and state governments treat the mineral sale proceeds as revenue or income. This leaves neither the minerals nor their value for future generations to inherit.</p>
<p>Further, as the mined materials support roughly 45% of the world&rsquo;s economic activities, this large-scale mining also has a social and environmental impact.</p>
<p>In this context, there is a need to adhere to the principle of Intergenerational Equity, which makes it imperative to ensure future generations inherit at least as much as that of the current generation.</p>
<h3>Issues Associated with Unsustainable Mining</h3>
<ul style="list-style-type: square;">
<li><strong>Going Beyond Carrying Capacity:</strong> In many cases, mining operations have been carried out without concern for the &lsquo;carrying capacity&rsquo; of the environment and other infrastructural limitations.
<ul style="list-style-type: circle;">
<li>This has put avoidable pressure on the environment and caused inconveniences to the people living in the mining areas.</li>
</ul>
</li>
<li><strong>Loss of Public Revenue:</strong> Driven by lobbying, political donations, and corruption, minerals are often sold at prices significantly lower than what they are worth.
<ul style="list-style-type: circle;">
<li>Illegal mining, in many cases, has a similar effect while additionally causing loss of public revenues.</li>
<li>According to the International Monetary Fund, due to unsustainable mining, many governments of resource-rich nations face declining public sector net worth.</li>
</ul>
</li>
<li><strong>Large Number of Small Mines:</strong> In India, many small mines (including quarries for extracting minor minerals) operate in most states.
<ul style="list-style-type: circle;">
<li>These present difficult challenges for sustainable development as their financial, technical, and managerial limitations restrict their ability to take adequate corrective measures.</li>
</ul>
</li>
<li><strong>Growing Inequality &amp; Loss of Natural Wealth:</strong> Naturally, the extractors are keen to extract as quickly as possible and move on. This deepens inequalities, as a few extractors acquire wealth without proper redistribution to the people.
<ul style="list-style-type: circle;">
<li>It also results in the loss of natural wealth. For example, it is estimated from the annual reports of Vedanta that over eight years (2004-2012), the State of Goa lost more than 95% of the value of its minerals.</li>
</ul>
</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li><strong>Life-Cycle Approach:</strong> There is a need to apply sustainability principles to all stages of the mine life cycle &ndash; exploration, mine planning, construction, mineral extraction, mine closure, and post-closure reclamation and rehabilitation. These principles include elements such as:
<ul style="list-style-type: circle;">
<li>Intra And Inter-generational Equity,</li>
<li>The Precautionary Principle,</li>
<li>Scientific Mining,</li>
<li>Management of Environmental and Socioeconomic Impacts.</li>
</ul>
</li>
<li><strong>Creation of Future Generation Fund:</strong> Like Norway, the entire mineral sale proceeds must be saved in a Future Generations Fund.
<ul style="list-style-type: circle;">
<li>Also, in 2014 the Supreme Court set up a global judicial precedent by ordering the creation of a Goa Iron Ore Permanent Fund. This model is worth emulating in all the major mining areas.</li>
</ul>
</li>
<li><strong>Adherence to Zero-Loss Principle:</strong> If we extract and sell our mineral wealth, the explicit objective must be to achieve zero loss in value.
<ul style="list-style-type: circle;">
<li>The state as trustee must capture the full economic rent (sale price minus the cost of extraction, cost including reasonable profit for extractor).</li>
</ul>
</li>
<li><strong>Consortia of Small Mining Enterprises:</strong> In order to alleviate the limitations of small mines in carrying out sustainable development activities, consortia of small mining enterprises in a region should be promoted.
<ul style="list-style-type: circle;">
<li>Also, technical advisory services should be made available to them in the relevant areas.</li>
</ul>
</li>
<li><strong>Environmental Footprint Framework:</strong> A common sustainable mining framework should be focused on reducing the environmental impacts of mining.
<ul style="list-style-type: circle;">
<li>Strategies for assessing mining operations&rsquo; sustainability include measuring, monitoring, and improving various environmental performance metrics. These are used to determine whether a mining operation is sustainable.</li>
<li>The key metrics for environmental sustainability in mining relate to efficiencies in resource consumption, minimizing land disturbance, pollution reduction, as well as closure and reclamation of exhausted mine lands.</li>
</ul>
</li>
<li><strong>Multi-Stakeholder Approach:</strong> Preparation of a socio-economic assessment report for a mining project should be made a part of the permitting process for the grant and administration of mineral concession to a mining enterprise.
<ul style="list-style-type: circle;">
<li>Mining enterprises should preferably execute local socio-economic development works rather than government and semi-government agencies to avoid the problems of inadequate capacity, political manipulation, and corruption.</li>
</ul>
</li>
</ul>
<h3>Conclusion</h3>
<p>Since minerals are a shared inheritance held in trust for the people and future generations, it is essential that as a nation, we change our paradigm to understand minerals as a &ldquo;shared inheritance,&rdquo; not a source of &ldquo;windfall revenue.&rdquo;</p>
<p><a href="http://www.drishtiias.com/images/uploads/1611060746_image0.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1611060746_image0.png" style="display: block; margin-left: auto; margin-right: auto;" width="500" caption="false" /></a></p>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr>
<td style="width: 100%; border-style: dotted; border-color: #ff0000; background-color: #f5f6ff;">
<p><span style="color: #000080;"><em><strong>Drishti Mains Question</strong></em></span></p>
<p>&ldquo;Minerals are a shared inheritance held in trust for the people and future generations&rdquo;. In light of the statement, discuss the issues related to the present state of mining practices and adopt sustainable mining.</p>
</td>
</tr>
</tbody>
</table>
<p style="text-align: center;"><iframe width="560" height="315" src="https://www.youtube.com/embed/u2qnxG5DaaI" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe></p>
<p>This editorial is based on <a href="https://www.hindustantimes.com/opinion/washingtons-return-to-the-paris-climate-accord-is-a-significant-step-build-on-it-101610890146334.html" target="_blank" rel="noopener"><strong>&ldquo;Washington&rsquo;s return to the Paris climate accord is a significant step. Build on it&rdquo;</strong> </a>published in The Hindustan Times on January 17<sup>th</sup>, 2020. Now watch this on our Youtube channel.</p>',
		'posturl' => 'sustainable-mining',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 9 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7501,
		'category_id' => (int) 21,
		'title' => 'North East Venture Fund',
		'description' => '<h3>Why in News</h3>
<p>The Ministry of Development of North-East Region has recently <strong>given an update on the scheme North East Venture Fund.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>Set up by<strong> North Eastern Development Finance Corporation Limited</strong> (NEDFi) in association with the <strong>Ministry of Development of North Eastern Region</strong> (M-DoNER), the <strong>North East Venture Fund</strong> scheme was launched in September 2017.</li>
<li>It is the<strong> first dedicated venture capital fund</strong> for the North Eastern Region (NER).<br />
<ul style="list-style-type: disc;">
<li>Venture capital is a form of <strong>private equity</strong> and a type of<strong> financing</strong> that<strong> investors provide to startup companies</strong> and small businesses that are believed to have <strong>long-term growth potential.</strong> Venture capital generally comes from<strong> well-off investors, investment banks and any other financial institutions. </strong></li>
</ul>
</li>
<li><strong>Corpus Amount:</strong> <br />
<ul style="list-style-type: disc;">
<li>Capital commitment of<strong> Rs 100 crore.</strong></li>
</ul>
</li>
<li><strong>Objectives:</strong> <br />
<ul style="list-style-type: disc;">
<li>To contribute to the<strong> entrepreneurship development of the NER</strong> and achieve <strong>attractive risk-adjusted returns through long term capital appreciation</strong> by way of investments in privately negotiated equity/ equity related investments.</li>
<li>The fund targets to invest in Start-Ups and unique business opportunities to provide resources for new entrepreneurships in Food Processing, Healthcare, Tourism, segregation of services, IT, etc.</li>
</ul>
</li>
<li><strong>Range of funds:</strong><br />
<ul style="list-style-type: disc;">
<li>The investment under this scheme ranges from<strong> Rs. 25 lakh to Rs.10 crore per venture,</strong> which is long term in nature with an investment horizon of <strong>4-5 years.</strong></li>
</ul>
</li>
</ul>
</li>
</ul>
<h3>Other Initiatives for the Development of North-Eastern Region</h3>
<ul style="list-style-type: square;">
<li><strong>North East Rural Livelihood Project (NELRP):</strong><br />
<ul style="list-style-type: circle;">
<li>Launched in 2012, the <a href="/daily-updates/daily-news-analysis/north-east-rural-livelihood-project" target="_blank" rel="noopener"><strong>NERLP</strong></a> is a <a href="/important-institutions/drishti-specials-important-institutions-international-institution/world-bank-group" target="_blank" rel="noopener"><strong>World Bank</strong> </a>aided, multi-state project under the Ministry of Development of North Eastern Region (DoNER).</li>
<li>The project has been implemented in<strong> 11 districts of Mizoram, Nagaland, Tripura and Sikkim</strong> with an aim to <strong>improve rural livelihoods especially that of women, unemployed youth and the most disadvantaged,</strong> in the four North Eastern States.</li>
</ul>
</li>
<li><strong>North Eastern Region Vision 2020 document</strong> provides an overarching framework for the development of the North Eastern Region.</li>
<li><strong>Science &amp; Technology Interventions in the North East Region</strong> (STINER): <br />
<ul style="list-style-type: circle;">
<li>STINER aims to bring <strong>relevant technologies developed by the academic, scientific and research institutions to the artisans and farmers especially women. </strong></li>
</ul>
</li>
<li><strong>North Eastern Region Power System Improvement Project</strong> (NERPSIP):<br />
<ul style="list-style-type: circle;">
<li><a href="/daily-updates/daily-news-analysis/north-eastern-region-power-system-improvement-project" target="_blank" rel="noopener"><strong>The Scheme</strong></a> was initially approved in December 2014 as a <a href="/daily-updates/daily-news-editorials/reforming-centrally-sponsored-scheme" target="_blank" rel="noopener"><strong>Central Sector Scheme</strong> </a>of the Ministry of Power.</li>
<li>It aims to create a reliable<strong> power grid</strong> and improve NER States' connectivity to the upcoming load centers, and thus extend the benefits of the <strong>grid connected power to all categories of consumers of beneficiaries in the North Eastern Region.</strong></li>
</ul>
</li>
<li><strong>Destination North East festival:</strong><br />
<ul style="list-style-type: circle;">
<li>The different facets of Northeast including the entrepreneurship avenues are replicated at <a href="/loksabha-rajyasabha-discussions/the-big-picture-infrastructure-and-north-east" target="_blank" rel="noopener"><strong>different locations across the country</strong></a>. During these events also, an exclusive arrangement is made for offering counselling and assistance to potential entrepreneurs and business Start-Ups.</li>
</ul>
</li>
</ul>
<p><a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1687668" target="_blank" rel="noopener"><strong>Source:PIB</strong></a></p>',
		'posturl' => 'north-east-venture-fund',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 10 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7499,
		'category_id' => (int) 21,
		'title' => 'Bad Bank',
		'description' => '<h3>Why in News</h3>
<p>Recently, the <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/important-institutions-national-institution-reserve-bank-of-india" target="_blank" rel="noopener"><strong>Reserve Bank of India (RBI)</strong></a> Governor has agreed to look at a proposal for creating a <a href="/daily-updates/daily-news-editorials/bad-bank" target="_blank" rel="noopener"><strong>Bad Bank</strong></a>.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>A bad bank conveys the impression that it will <strong>function as a bank but has bad assets to start with.</strong></li>
<li>Technically, a<strong> bad bank is an <a href="/daily-updates/daily-news-analysis/secondary-market-for-corporate-loans" target="_blank" rel="noopener">Asset Reconstruction Company (ARC)</a></strong> or an Asset Management Company (AMC) that <strong>takes over the bad loans of commercial banks, manages them and finally recovers the money</strong> over a period of time.</li>
<li>The bad bank is not involved in lending and taking deposits, but <strong>helps commercial banks clean up their balance sheets and resolve bad loans.</strong> <br />
<ul style="list-style-type: disc;">
<li>The <strong>takeover of bad loans is normally below the book value</strong> of the loan and the bad bank tries to recover as much as possible subsequently.</li>
</ul>
</li>
<li>US-based Mellon Bank created the<strong> first bad bank in 1988,</strong> after which the concept has been implemented in other countries including Sweden, Finland, France and Germany.<br />
<ul style="list-style-type: disc;">
<li>The<strong> Troubled Asset Relief Programme (TARP)</strong> in the US.</li>
<li>In Ireland, the <strong>National Asset Management Agency</strong> was established in 2009 to respond to the financial crisis.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Need in India:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Economic Recovery:</strong> <br />
<ul style="list-style-type: disc;">
<li>With the <a href="/daily-updates/daily-news-analysis/covid-19-now-pandemic-who" target="_blank" rel="noopener"><strong>pandemic</strong> </a>hitting the banking sector, the RBI fears a spike in bad loans in the wake of a six-month moratorium it has announced to tackle the economic slowdown.</li>
</ul>
</li>
<li><strong>Government Support:</strong> <br />
<ul style="list-style-type: disc;">
<li>Professionally-run bad banks, funded by the private lenders and supported by the government, can be an effective mechanism to deal with <strong><a href="/daily-updates/daily-news-editorials/lessons-from-npa-crisis" target="_blank" rel="noopener">Non-Performing Assets (NPA)</a>.</strong></li>
<li>The<strong> presence of the government</strong> is seen as a means to<strong> speed up the clean-up process. </strong></li>
</ul>
</li>
<li><strong>Rising NPAs:</strong><br />
<ul style="list-style-type: disc;">
<li><a href="/daily-updates/daily-news-analysis/financial-stability-report-rbi-2" target="_blank" rel="noopener"><strong>Financial Stability Report (FSR)</strong></a>: The RBI noted in its recent <strong>FSR</strong> that the gross NPAs of the banking sector are expected to shoot up to 13.5% of advances by September 2021, from 7.5% in September 2020.</li>
<li><strong>K V Kamath Committee</strong>: Noted that corporate sector debt worth Rs 15.52 lakh crore has come under stress after <a href="/daily-updates/daily-news-editorials/comprehensive-action-plan-for-covid-19" target="_blank" rel="noopener"><strong>Covid-19</strong></a> hit India, while another Rs 22.20 lakh crore was already under stress before the pandemic. <br />
<ul style="list-style-type: disc;">
<li>The committee noted that <strong>companies in sectors such as retail trade, wholesale trade, roads and textiles are facing stress.</strong></li>
<li>Sectors that have been under <strong>stress pre-Covid include <a href="/daily-updates/daily-news-analysis/rbi-to-merge-three-categories-of-nbfcs#:~:text=A%20Non%2DBanking%20Financial%20Company,securities%20of%20a%20like%20nature." target="_blank" rel="noopener">Non-Banking Financial Company (NBFC)</a>, power, steel,<a href="/loksabha-rajyasabha-discussions/the-big-picture-reviving-real-estate" target="_blank" rel="noopener"> real estate and construction.</a></strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>International Precedents:</strong> Many other countries had set up institutional mechanisms to deal with a problem of stress in the financial system.</li>
</ul>
</li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1611051013_image3.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1611051013_image3.jpg" style="display: block; margin-left: auto; margin-right: auto;" width="650" caption="false" /></a></p>
<ul style="list-style-type: square;">
<li><strong>Challenges :</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Mobilising Capital:</strong> <br />
<ul style="list-style-type: disc;">
<li>Finding buyers for bad assets in a pandemic hit economy will be a challenge, especially when <strong>governments are facing the issue of containing the <a href="/daily-updates/daily-news-analysis/increased-fiscal-deficit" target="_blank" rel="noopener">fiscal deficit.</a></strong></li>
</ul>
</li>
<li><strong>Not Addressing the Underlying Issue:</strong><br />
<ul style="list-style-type: disc;">
<li>Without governance reforms, the <a href="/daily-updates/daily-news-analysis/amalgamation-of-national-banks" target="_blank" rel="noopener"><strong>Public sector banks</strong></a> (accounted for 86%, of the total NPAs) may go on doing business the way they have been doing in the past and <strong>may end up piling-up of bad debts again.</strong></li>
<li>Also, the bad bank idea is like <strong>shifting loans from one government pocket (the public sector banks) to another (the bad bank).</strong></li>
</ul>
</li>
<li><strong>Provisioning Issue Tackled Through Recapitalization:</strong> <br />
<ul style="list-style-type: disc;">
<li>Union Government, in the last few years, has<strong> infused nearly Rs 2.6 lakh</strong> crore in banks through<a href="/daily-updates/daily-news-analysis/recapitalisation-of-rrbs" target="_blank" rel="noopener"><strong> recapitalisation.</strong></a></li>
<li>Those who oppose the concept of bad banks hold that the government has on its part recapitalised the banks to compensate for the write-offs and hence, there is no need for a bad bank.</li>
</ul>
</li>
<li><strong>Market-related Issues:</strong> <br />
<ul style="list-style-type: disc;">
<li>The price at which bad assets are transferred from commercial banks to the bad bank will not be market-determined and <strong>price discovery will not happen.</strong></li>
</ul>
</li>
<li><strong>Moral Hazard:</strong> <br />
<ul style="list-style-type: disc;">
<li>Former RBI Governor Raghuram Rajan had said that a bad bank may create a moral hazard and <strong>enable banks to continue reckless lending practices, without any commitment to reduce NPAs.</strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Previous Proposals:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>In May 2020</strong> the banking sector, led by the <a href="/daily-updates/daily-news-editorials/payment-revolution-in-india" target="_blank" rel="noopener"><strong>Indian Banks&rsquo; Association</strong></a>, had submitted a proposal for setting up a bad bank to resolve the NPA problem, proposing equity contribution from the government and banks.</li>
<li><strong>In 2017</strong> the <a href="/daily-updates/daily-news-analysis/economic-survey-2019-20-highlights" target="_blank" rel="noopener"><strong>Economic Survey</strong></a> suggested <strong>Public Sector Asset Rehabilitation Agency or PARA,</strong> to buy out the NPAs of high value from Indian banks.</li>
</ul>
</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li><strong>Holistic Reforms:</strong> <br />
<ul style="list-style-type: circle;">
<li>So long as Public sector banks managements remain beholden to politicians and bureaucrats, their deficit in professionalism will remain and subsequently, prudential norms in lending will continue to suffer. Therefore, the debate regarding setting up a bad bank must be preceded by <strong>proper implementation of holistic reforms in the banking sector,</strong> as envisaged under the<strong> Indra Dhanush plan launched in 2015.</strong></li>
</ul>
</li>
<li><strong>Tailor Made Approach:</strong> <br />
<ul style="list-style-type: circle;">
<li>It&rsquo;s a challenge that requires a response on multiple fronts. A <strong>bad bank cannot be the sole response.</strong> The most efficient approach would be to design solutions <strong>tailor-made for different parts of India&rsquo;s bad loan problem</strong> and use Bad Bank only as a last resort once all other methods fail.</li>
</ul>
</li>
</ul>
<p><a href="https://indianexpress.com/article/explained/npa-bad-bank-balance-sheet-loan-rbi-shaktikanta-das-7151841/" target="_blank" rel="noopener"><strong>Source:IE</strong></a></p>',
		'posturl' => 'bad-bank-1',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 11 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7496,
		'category_id' => (int) 15,
		'title' => 'The Big Picture: India and the Vaccination Drive',
		'description' => '<p style="text-align: center;"><iframe width="560" height="315" src="https://www.youtube.com/embed/LVQqL5w33XM" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe></p>
<h3>Why in News?</h3>
<ul style="list-style-type: square;">
<li>India began the<strong> "World's Largest Vaccination Program"</strong> on January 16, 2021.</li>
<li>The Prime Minister of India said that India is entering a decisive phase of vaccination in the fight against <a href="/daily-updates/daily-news-analysis/covid-19-and-medical-solutions" target="_blank" rel="noopener"><strong>COVID-19</strong></a>, with the approval of two <strong>made-in-India COVID-19 vaccines.</strong>
<ul style="list-style-type: circle;">
<li>The PM has also said that two vaccines are more cost-effective than any other in the world and that India&rsquo;s vaccine production &amp; delivery capacity will be used to help all humanity in fighting this crisis.</li>
</ul>
</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>It is India's <strong>first ever adult vaccination drive.</strong></li>
<li>The <a href="/daily-updates/daily-news-analysis/no-clinical-trials-in-india-for-new-drugs" target="_blank" rel="noopener"><strong>Drug Controller General of India (DCGI)</strong></a> has granted the<strong> emergency-use approval</strong> for two indigenous vaccines: <a href="/daily-updates/daily-news-analysis/phase-ii-iii-clinical-trials-of-covishield" target="_blank" rel="noopener"><strong>COVISHIELD</strong></a> by <strong>Serum Institute of India</strong> and <a href="/daily-updates/daily-news-analysis/covaxin-approved-for-human-clinical-trials" target="_blank" rel="noopener"><strong>COVAXIN</strong></a> by <strong>Bharat Biotech.</strong>
<ul style="list-style-type: circle;">
<li>The two vaccines are found to be safe and no major side effects are expected. However, little pain or redness in the skin can be observed.</li>
<li>The vaccines have gone through preclinical animal experiments on animals like rabbits, mice and hamsters followed by non-human primates.</li>
<li>Out of the two vaccines, <strong>Covaxin is an inactivated vaccine</strong> whereas <strong>Covishield is a live vaccine.</strong></li>
</ul>
</li>
<li>In the <strong>first phase of vaccination,</strong> the first 3 crore people to be vaccinated include the healthcare workers and frontline workers.
<ul style="list-style-type: circle;">
<li>The cost of vaccination of these people will be borne by the government.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><a href="/daily-updates/daily-news-analysis/inactivated-virus-vaccine-in-focus-for-covid-19" target="_blank" rel="noopener"><strong>Live and Inactivated Vaccines</strong></a></p>
<ul style="list-style-type: square;">
<li><strong>Live Vaccines:</strong> They <strong>use a weakened (or attenuated) form of the germ</strong> that causes a disease.
<ul style="list-style-type: circle;">
<li>Because these vaccines are so similar to the natural infection that they help prevent, they create a strong and long-lasting immune response.</li>
<li><strong>Note:</strong> As they contain a small amount of the weakened live virus, people with weakened immune systems, long-term health problems, or people who&rsquo;ve had an organ transplant should not be given these vaccines without any prior consultation with the healthcare provider.</li>
</ul>
</li>
<li><strong>Inactivated vaccine:</strong> Active pathogens are grown in large numbers and then killed either by a chemical or heat. Although the pathogen is killed, or made to lose its reproduction capacity, various parts of the pathogen are intact. E.g The antigen (the chemical structure) that is recognised by the immune system is left unimpaired.
<ul style="list-style-type: circle;">
<li>As the pathogen is dead, it cannot reproduce nor cause even a mild disease. Thus, it is safe to administer to even people with lesser immunity, like the old and those who have comorbidity.</li>
</ul>
</li>
</ul>
</div>
<h3>India and Vaccines</h3>
<ul style="list-style-type: square;">
<li>At present <strong>80-90% of the world&rsquo;s</strong> whole <a href="/daily-updates/daily-news-analysis/measles-2" target="_blank" rel="noopener"><strong>Measles</strong></a> vaccine is provided by India.
<ul style="list-style-type: circle;">
<li>India supplies all the <a href="/daily-updates/daily-news-analysis/measles-and-rubella-in-who-sear" target="_blank" rel="noopener"><strong>Rubella</strong></a> vaccines to <strong>South America.</strong></li>
</ul>
</li>
<li>The indigenous developed <a href="/daily-updates/daily-news-analysis/reverse-vaccinology" target="_blank" rel="noopener"><strong>meningococcal vaccine</strong></a> of India is supplied to the entire <strong>Sub-Saharan Africa.</strong>
<ul style="list-style-type: circle;">
<li><strong>Meningococcal meningitis</strong> is caused by <strong>Neisseria meningitidis bacteria.</strong> It is a serious infection of the thin lining that surrounds the brain and spinal cord.</li>
</ul>
</li>
<li>The indigenous <a href="/daily-updates/daily-news-analysis/rotavirus-vaccination-drive" target="_blank" rel="noopener"><strong>rotavirus vaccine</strong></a> is going to 16 countries in the world.</li>
<li>Various novel vaccines have been introduced by India, such as the world&rsquo;s first<strong> subunit rabies vaccine. It</strong> has been approved by the Drug Controller General of India.
<ul style="list-style-type: circle;">
<li><strong>Subunit vaccines</strong> are composed of <strong>protein or glycoprotein components of a pathogen</strong> that are capable of inducing a protective immune response and may be produced by conventional biochemical or recombinant DNA technologies.</li>
</ul>
</li>
</ul>
<h3>Government Strategy For Smooth and Effective Drive</h3>
<ul style="list-style-type: square;">
<li><strong>Preparatory measures:</strong> The key preparatory aspects that have been undertaken include the physical infrastructure, human resources and training of the vaccinators.
<ul style="list-style-type: circle;">
<li><strong>The digital aspect:</strong> The government has launched the<strong> Co-WIN application</strong> for the registration of the citizens and to generate digital certificates of vaccination.</li>
</ul>
</li>
<li><strong>Community participation:</strong> Besides preparatory aspects, the <strong>community participation</strong> has also been emphasised by the Prime Minister. He has urged all to come forward and help in eliminating <strong>vaccine hesitancy.</strong></li>
<li><strong>Beneficiary identification:</strong> Separate templates have been developed for the healthcare workers and the frontline workers.
<ul style="list-style-type: circle;">
<li>People above the age of 50 who have comorbidities will be the next to be vaccinated.</li>
<li><strong>Aadhar</strong> will also be used for the beneficiary identification.</li>
</ul>
</li>
</ul>
<p><strong>Steps Need to be Taken</strong></p>
<ul style="list-style-type: square;">
<li><strong>Spreading awareness:</strong> Leaders, influential people and healthcare workers who will be vaccinated need to come forward and help spreading awareness about the vaccine.</li>
<li><strong>Effective collaboration:</strong> Effective and decentralised implementation with the collaboration of centre, state, communities and health care workers.</li>
<li><strong>Proper training:</strong> Ensuring proper training of vaccinators and adopting measures to maintain temperature of vaccines.</li>
<li><strong>Monitoring:</strong> Keeping watch of any side effects that may arise due to vaccines and adopting measures to be used in an emergency for such situations.</li>
</ul>
<div class="border-bg">
<p><strong>The Co-WIN Application</strong></p>
<ul style="list-style-type: square;">
<li>To <strong>monitor the inoculation drive and track the listed beneficiaries for vaccination</strong> on a real-time basis, the central government has developed<strong> Covid Vaccine Intelligence Network or Co-WIN application.</strong>
<ul style="list-style-type: circle;">
<li>Co-WIN will facilitate <strong>real time information of vaccine stocks and storage temperature</strong> during the COVID-19 vaccination drive.</li>
</ul>
</li>
<li>The app will be used as a back-end software during COVID-19 vaccination drive, starting from Saturday.
<ul style="list-style-type: circle;">
<li>The self-registration module of Co-WIN App has not been released yet.</li>
</ul>
</li>
</ul>
</div>
<h3>Challenges</h3>
<ul style="list-style-type: square;">
<li><strong>Vaccine hesitancy:</strong> Either they are common people, or the frontline workers, vaccine hesitancy, if exists, it may obstruct the smooth implementation of the vaccination drive.
<ul style="list-style-type: circle;">
<li>If the healthcare workers are hesitant about getting vaccinated, it will not create a good impact among common people as they are the role model for the people who will be vaccinated next.</li>
<li>There is uncertainty and suspicion about the side effects of the vaccine.</li>
</ul>
</li>
<li><strong>Issues with the Co-WIN App:</strong> Issues such as loss of internet connectivity are expected to be faced in the app, which could cause problems while tracking the vaccine stocks, or in the updation of data of the beneficiaries.</li>
<li><strong>Lack of experience:</strong> The Covid-19 Vaccination drive is India&rsquo;s first ever large scale immunisation programme. There is a lack of experience due to which the chances of mistakes are likely to happen.</li>
<li><strong>Vaccine wastage:</strong> Each vaccine vial contains 10 doses and must be used within 4 hours of opening. This could lead to vaccine wastage.</li>
</ul>
<h3>Way forward</h3>
<ul style="list-style-type: square;">
<li><strong>Eliminating vaccine hesitancy:</strong> The covid-19 vaccines are for adults, the communication is required in order to resolve the confusions and to eliminate the vaccine hesitancy.
<ul style="list-style-type: circle;">
<li>Engagement with the community based organisations and spreading awareness by educating people about the vaccine.</li>
</ul>
</li>
<li><strong>Janbhagidari:</strong> Community partnership or janbhagidari should be emphasised.
<ul style="list-style-type: circle;">
<li>People should take the vaccine and spread the word about the efficacy and security of the vaccine.</li>
</ul>
</li>
<li><strong>Preventing vaccine wastage:</strong> organised appointment for vaccinations, ensuring once opened, the vaccine is surely utilised and not wasted.</li>
<li><strong>Continuing the flow of vaccines:</strong> Taking lessons from other countries, India should continue the flow of vaccines.
<ul style="list-style-type: circle;">
<li>The US got stalled because they started to store the second dose of vaccines too. India should continue the flow of vaccines to the areas where it is required.</li>
</ul>
</li>
<li><strong>Vaccination + covid-appropriate behaviour:</strong> Neither Covid appropriate behaviour nor vaccination is enough alone. Both have to go hand in hand in order to completely eliminate the pandemic.
<ul style="list-style-type: circle;">
<li><strong>Covid-appropriate behaviour:</strong>
<ul style="list-style-type: disc;">
<li>Wearing the mask properly.</li>
<li>Washing hands regularly as hygiene is very important.</li>
<li>Following the physical distancing of 6 feet.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Tracking the virus:</strong> The new variants of virus found till date are manageable but it is important to constantly look for emergence of any vaccine resistant virus.</li>
<li><strong>Looking after the immunogenicity:</strong> Looking up at the immunogenicity of the vaccine; how long does the effect of the vaccine lasts and how the cell-mediated immune responses are developing.</li>
</ul>
<h3>Conclusion</h3>
<ul style="list-style-type: square;">
<li>India has now emerged as a global covid vaccine hub which is done not only by manufacturing or developing vaccines but also ensuring how it will be transported and how the entire vaccination drive has to be done.</li>
<li>For the world&rsquo;s largest vaccination against covid-19, a multi-prong approach is required including educating people, following the vaccination process, keeping a check on new strains of virus, maintaining the records of essential data of the beneficiaries and refining our strategy.</li>
<li>Vaccine hesitancy is the main obstruction in the smooth vaccination drive, in order to defeat the pandemic, vaccine hesitancy should be eliminated first as It is not the vaccine but vaccination that prevents an infection.</li>
</ul>',
		'posturl' => 'the-big-picture-india-and-the-vaccination-drive',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 12 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7495,
		'category_id' => (int) 21,
		'title' => 'Rooftop Solar Scheme',
		'description' => '<h3>Why in News</h3>
<p>Recently, the <strong>Ministry of New and Renewable Energy (MNRE)</strong> has released an advisory on the <strong>rooftop solar scheme.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Objective:</strong><br />
<ul style="list-style-type: circle;">
<li>To generate solar power by installing <strong>solar panels</strong> on the roof of the houses, the Ministry of New and Renewable Energy is implementing <a href="/daily-updates/daily-news-analysis/phase-ii-of-grid-connected-rooftop-solar-programme" target="_blank" rel="noopener"><strong>Grid-connected Rooftop Solar Scheme (Phase II)</strong></a>.</li>
</ul>
</li>
<li><strong>Grid-Connected Rooftop Solar Scheme (Phase II):</strong><br />
<ul style="list-style-type: circle;">
<li>It aims to achieve a cumulative capacity of <strong>40,000 MW from Rooftop Solar Projects by the year 2022.</strong></li>
<li>In a grid-connected rooftop or small Solar Photovoltaic (SPV) system wherein <strong>the DC power generated from the SPV panel is converted to AC power</strong> using the power conditioning unit and is fed to the grid.</li>
<li>The<strong> major objective</strong> of the programme includes:<br />
<ul style="list-style-type: disc;">
<li>To promote the <strong>grid-connected SPV rooftop</strong> and small SPV power generating plants among the residential, community, institutional, industrial and commercial establishments.</li>
<li>To<strong> mitigate</strong> the <strong>dependence on fossil fuel based electricity generation</strong> and encourage environment-friendly Solar electricity generation.</li>
<li>To create an <strong>enabling environment for investment in the solar energy</strong> sector by the private sector, state government and the individuals.</li>
<li>To create an enabling environment for the <strong>supply of solar power from rooftop and small plants to the grid.</strong></li>
</ul>
</li>
<li>This scheme is being implemented in the state by <strong>distribution companies (DISCOMs).</strong><br />
<ul style="list-style-type: disc;">
<li>Under this scheme the Ministry is providing a <strong>40%</strong> subsidy for the first 3 kW and <strong>20%</strong> subsidy beyond <strong>3 kW</strong> and upto <strong>10 kW</strong> of solar panel capacity.</li>
</ul>
</li>
<li>The <strong>residential consumer has to pay the cost of rooftop solar plant by reducing the subsidy amount</strong> given by the Ministry as per the prescribed rate to the vendor.</li>
</ul>
</li>
<li><strong>Other Schemes for Promoting Solar Energy:</strong><br />
<ul style="list-style-type: circle;">
<li><a href="/daily-updates/daily-news-editorials/pm-kusum#:~:text=PM%2DKUSUM%20consists%20of%20three,standalone%20solar%2Dpowered%20agriculture%20pumps." target="_blank" rel="noopener"><strong>Kisan Urja Suraksha evam Utthaan Mahabhiyan</strong></a> <strong>(PM-KUSUM):</strong><br />
<ul style="list-style-type: disc;">
<li>The scheme covers grid-connected Renewable Energy power plants (0.5 &ndash; 2 MW)/Solar water pumps/grid connected agriculture pumps.</li>
</ul>
</li>
<li><strong>Scheme for Development of Ultra Mega Renewable Energy Power Parks:</strong><br />
<ul style="list-style-type: disc;">
<li>It is a scheme to develop Ultra Mega Renewable Energy Power Parks (UMREPPs) under the existing Solar Park Scheme.</li>
</ul>
</li>
<li><strong>National Wind-Solar Hybrid Policy:</strong><br />
<ul style="list-style-type: disc;">
<li>The main objective of the National Wind-Solar Hybrid Policy, 2018 is to provide a framework for <strong>promotion of large grid connected wind-solar PV hybrid systems</strong> for optimal and efficient utilization of wind and solar resources, transmission infrastructure and land.</li>
<li>The wind - solar PV hybrid systems will help in reducing the variability in renewable power generation and achieving better grid stability.</li>
<li>The policy also aims to encourage new technologies, methods and way-outs involving combined operation of wind and solar PV plants.</li>
</ul>
</li>
<li><strong>Atal Jyoti Yojana</strong> (AJAY):<br />
<ul style="list-style-type: disc;">
<li>The AJAY scheme was launched in September 2016 for the installation of<strong> solar street lighting</strong> (SSL) systems in states with less than <strong>50%</strong> households covered with <strong>grid power</strong> (as per Census 2011).</li>
</ul>
</li>
<li><a href="/daily-updates/daily-news-analysis/second-assembly-of-isa#:~:text=The%20second%20assembly%20of%20the,financial%20and%20programme%20related%20issues." target="_blank" rel="noopener"><strong>International Solar Alliance</strong></a>: The ISA, is an Indian initiative that was launched by the Prime Minister of India and the President of France on 30th November 2015 in Paris, France on the side-lines of the Conference of the Parties (COP-21), with 121 solar resource rich countries lying fully or partially between the tropic of Cancer and tropic of Capricorn as prospective members.</li>
<li><a href="/daily-updates/daily-news-editorials/one-sun-one-world-one-grid-1" target="_blank" rel="noopener"><strong>One Sun, One World, One Grid</strong></a> (OSOWOG): It focuses on a framework for facilitating global cooperation, building a global ecosystem of interconnected renewable energy resources (mainly solar energy) that can be seamlessly shared.</li>
<li><strong><a href="/mind-map/gs-paper2/national-action-plan-on-climate-change-mind-map" target="_blank" rel="noopener">National Solar Mission</a> (a part of National Action Plan on Climate Change)</strong></li>
<li><strong>Suryamitra Skill Development Programme:</strong> To provide skill training to rural youth in handling solar installations.</li>
</ul>
</li>
</ul>
<p><a href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1688826#:~:text=To%20generate%20solar%20power%20by,kW%20and%20upto%2010%20kW." target="_blank" rel="noopener"><strong>Source:PIB</strong></a></p>',
		'posturl' => 'rooftop-solar-scheme',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 13 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7494,
		'category_id' => (int) 21,
		'title' => 'Indian Star Tortoise',
		'description' => '<h3>Why in News</h3>
<p>Recently, <strong>Indian star tortoises</strong> were seized while being smuggled from Andhra Pradesh to Odisha.</p>
<p><a href="http://www.drishtiias.com/images/uploads/1611043216_image2.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1611043216_image2.jpg" style="display: block; margin-left: auto; margin-right: auto;" width="350" caption="false" /></a></p>
<h3>Key points</h3>
<ul style="list-style-type: square;">
<li><strong>Habitat:</strong>
<ul style="list-style-type: circle;">
<li><a href="/daily-updates/daily-news-analysis/important-facts-for-prelims-9th-november-2018" target="_blank" rel="noopener"><strong>Indian star tortoise</strong> </a>is found across the <strong>Indian sub-continent,</strong> more specifically, in the <strong>Central and Southern parts of India,</strong> in <strong>West Pakistan</strong> and in<strong> Sri Lanka.</strong></li>
</ul>
</li>
<li><strong>Protection Status:</strong>
<ul style="list-style-type: circle;">
<li><strong><a href="/search/Wild%20Life%20(Protection)%20Act,%201972" target="_blank" rel="noopener">Wild Life Protection Act 1972</a>: Schedule IV</strong>
<ul style="list-style-type: disc;">
<li><strong>Schedule IV:</strong> This list is for <strong>species that are not endangered.</strong> It includes <strong>protected species but the penalty for any violation is less</strong> compared to the Schedules I and II.</li>
</ul>
</li>
<li><a href="/important-institutions/drishti-specials-important-institutions-international-institution/cites#:~:text=The%20Convention%20on%20International%20Trade,economic%20integration%20organizations%20adhere%20voluntarily.&amp;text=The%20IUCN%20is%20a%20membership,government%20and%20civil%20society%20organisations." target="_blank" rel="noopener"><strong>Convention on International Trade inSpecies (CITES)</strong></a>: Appendix I</li>
<li><strong>IUCN Status:</strong> Vulnerable</li>
</ul>
</li>
<li><strong>Threat:</strong> The species faces two threats-<strong> loss of habitat to agriculture</strong> and illegal harvesting for the<strong> pet trade.</strong>
<ul style="list-style-type: circle;">
<li>According to the <a href="/daily-updates/daily-news-analysis/not-all-animals-migrate-by-choice-campaign" target="_blank" rel="noopener"><strong>Wildlife Crime Control Bureau</strong></a>, 90% of the trade of Star Tortoise occurs as part of the International pet market.</li>
<li>If their exploitation had continued at a similar pace or had expanded, a decline of greater than 30% was predicted by 2025.</li>
</ul>
</li>
<li><strong>Conservation Efforts:</strong>
<ul style="list-style-type: circle;">
<li>Recently India&rsquo;s <a href="/daily-updates/daily-news-analysis/proposals-to-change-in-cites-listing" target="_blank" rel="noopener"><strong>proposal to upgrade the protection status</strong></a> of Star Tortoise from <strong>Appendix II to Appendix I</strong> was approved by the <a href="/important-institutions/drishti-specials-important-institutions-international-institution/cites" target="_blank" rel="noopener"><strong>Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES)</strong></a>.</li>
</ul>
</li>
</ul>
<p><a href="https://www.thehindu.com/news/national/andhra-pradesh/414-indian-star-tortoises-seized/article33604384.ece" target="_blank" rel="noopener"><strong>Source:TH</strong></a></p>',
		'posturl' => 'indian-star-tortoise',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 14 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7493,
		'category_id' => (int) 21,
		'title' => 'Indian Railway Finance Corporation: IPO ',
		'description' => '<h3>Why in News</h3>
<p>The <strong>Initial Public Offering (IPO) of Indian Railway Finance Corporation (IRFC)</strong> got 65% subscription on the first day of bidding.</p>
<ul style="list-style-type: square;">
<li>Earlier, <a href="/daily-updates/daily-news-analysis/irctc-ipo" target="_blank" rel="noopener"><strong>Indian Railway Catering and Tourism Corporation Ltd. held an IPO</strong></a> on the National Stock Exchange in 2019.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>First Issue:</strong><br />
<ul style="list-style-type: circle;">
<li>It is the <strong>first IPO in the calendar year 2021</strong> and the <strong>first public issue by a railway <a href="/daily-updates/daily-news-analysis/liquidity-boost-to-nbfcs" target="_blank" rel="noopener">non-banking financial company</a>.</strong></li>
</ul>
</li>
<li><strong>Amount Raised:</strong><br />
<ul style="list-style-type: circle;">
<li>Through the initial public offer, <strong>the Centre, the promoter of IRFC, will offload 13.6% stake in the company.</strong></li>
<li>At the higher price band of Rs 26 per share, <strong>the government would raise Rs 3,243 crore</strong> and the company will have a market cap of Rs 23,845 crore.</li>
</ul>
</li>
<li><strong>Objective:</strong> <br />
<ul style="list-style-type: circle;">
<li>IRFC will use the IPO proceeds from the fresh issue to <strong>boost its capital base and general corporate purposes.</strong></li>
</ul>
</li>
<li><strong>Other Government Interventions to Enhance Railway&rsquo;s Efficiency:</strong><br />
<ul style="list-style-type: circle;">
<li><a href="/daily-updates/daily-news-analysis/dedicated-freight-corridor-1#:~:text=Key%20Points,state%20of%20the%20art%20technology." target="_blank" rel="noopener"><strong>Development of freight corridors</strong></a></li>
<li><strong>High-speed railway </strong></li>
<li><strong>Elevated corridors</strong></li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Indian Railway Finance Corporation</strong></p>
<ul style="list-style-type: square;">
<li><strong>About:</strong> <br />
<ul style="list-style-type: circle;">
<li>A <strong>subsidiary of the <a href="/daily-updates/daily-news-editorials/privatizing-indian-railways" target="_blank" rel="noopener">Indian Railways</a></strong>, it is the <strong>dedicated market borrowing arm</strong> of the Indian Railways.</li>
</ul>
</li>
<li><strong>Established:</strong> <br />
<ul style="list-style-type: circle;">
<li>It was <strong>incorporated in 1986.</strong></li>
</ul>
</li>
<li><strong>Finance Model:</strong> <br />
<ul style="list-style-type: circle;">
<li>It follows a<strong> financial leasing model</strong> to finance the acquisition of rolling stock assets, which includes locomotives, coaches, wagons, trucks, flats, electric multiple units, containers, cranes, trollies, etc.<br />
<ul style="list-style-type: disc;">
<li><strong>Finance Leasing Model:</strong><br />
<ul style="list-style-type: disc;">
<li>Deriving revenues through the leasing model typically <strong>involves three parties: the seller, the buyer (lessee) and the financier (lessor).</strong></li>
<li>In exchange for payment, <strong>ownership of an item</strong> (usually equipment) is <strong>transferred from the seller to the lessor.</strong></li>
<li>The <strong>lessee then contracts with the lessor</strong> for <strong>the use of the item in exchange for a periodic fee.</strong></li>
<li>The seller may or may not retake ownership of the item once the leasing contract has ended.</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
<li><strong>Contribution:</strong> <br />
<ul style="list-style-type: circle;">
<li>It plays a<strong> significant role in supporting the capacity enhancement of the Indian Railways</strong> by financing the majority proportion of their annual plan outlay which gives a long term business visibility, the brokerage feels.</li>
</ul>
</li>
<li><strong>Other Functions:</strong> <br />
<ul style="list-style-type: circle;">
<li>It is also into<strong> leasing railway infrastructure assets and national projects of the Government of India (project assets)</strong> and <strong>lending to other entities</strong> under the Ministry of Railways (MoR).</li>
</ul>
</li>
</ul>
</div>
<h3>Initial Public Offering (IPO)</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>IPO is the<strong> selling of securities to the public in the primary market.</strong><br />
<ul style="list-style-type: disc;">
<li><strong>Primary market deals with new securities</strong> being issued for the first time. It is also known as the <strong>new issues market.</strong></li>
<li>It is different from the<strong> secondary market</strong> where <strong>existing securities are bought and sold.</strong> It is also known as the stock market or <a href="/daily-updates/daily-news-analysis/vix-measure-of-market-volatility" target="_blank" rel="noopener"><strong>stock exchange</strong></a>.</li>
</ul>
</li>
<li>It is <strong>when an unlisted company makes either a fresh issue of securities or an offer for sale</strong> of its existing securities or both for the first time to the public.<br />
<ul style="list-style-type: disc;">
<li><strong>Unlisted companies</strong> are companies that are not listed on the stock exchange.</li>
</ul>
</li>
<li>It is generally <strong>used by new and medium-sized firms that are looking for funds to grow and expand their business.</strong></li>
</ul>
</li>
<li><strong>Benefits:</strong><br />
<ul style="list-style-type: circle;">
<li>The funds raised by IPO allows the company<strong> to invest in new capital equipment and infrastructure.</strong></li>
<li>An IPO paves way for<strong> listing and trading of the issuer&rsquo;s securities on the Stock exchange market.</strong></li>
<li>The IPO also allows the company to <strong>attract top talent</strong> because it <strong>can offer stock options to its employees.</strong> This enables the company <strong>to pay its executives fairly low wages initially.</strong> And later, in return, the employees as promised can cash out with the IPO.</li>
</ul>
</li>
</ul>
<p><a href="https://indianexpress.com/article/explained/explained-should-you-invest-in-the-irfc-ipo-7151683/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
		'posturl' => 'indian-railway-finance-corporation-ipo',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 15 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7492,
		'category_id' => (int) 21,
		'title' => 'Crowdfunding for Rare Diseases',
		'description' => '<h3>Why in News</h3>
<p>Recently, the Delhi <strong>High Court</strong> has ordered <strong>the Ministry of Health and Family Welfare</strong> to explore <a href="/daily-updates/daily-news-analysis/crowdfunding#:~:text=Crowdfunding%20is%20a%20method%20of,for%20greater%20reach%20and%20exposure." target="_blank" rel="noopener"><strong>Crowdfunding</strong></a> to help two children, who are suffering from a <a href="/daily-updates/daily-news-analysis/rare-diseases-in-india" target="_blank" rel="noopener"><strong>Rare Disease</strong></a> known as <strong>Duchenne Muscular Dystrophy.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Constitutional Provision Involved:</strong> <br />
<ul style="list-style-type: circle;">
<li>The HC held that <strong>&lsquo;Right to Health and Healthcare&rsquo;</strong> is a <strong>fundamental right</strong> which has been recognised by the Supreme Court to be a part of the <strong>&lsquo;Right to life&rsquo;</strong> under <a href="/to-the-points/Paper2/important-judgements-of-independent-india" target="_blank" rel="noopener"><strong>Article 21</strong> </a>of the Constitution.</li>
</ul>
</li>
<li><strong>Direction to the Society and Authorities:</strong> <br />
<ul style="list-style-type: circle;">
<li>The <strong>High Court</strong> directed the<strong> society in general and authorities in particular</strong> to ensure that the<strong> life of such children is not compromised,</strong> even if there is a small window of improving their chances of survival or even providing a<strong> better quality of life.</strong></li>
<li>Directed <strong>the Ministry of Health and Family Welfare</strong> to give a specific timeline in respect of the finalisation and notification of the <strong>Draft Health Policy for Rare Diseases, 2020.</strong> The draft policy has a section where the <strong>government proposed crowdfunding for treatment of high-cost Rare Diseases.</strong></li>
</ul>
</li>
</ul>
<h3>CrowdFunding</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>Crowdfunding is a <strong>method of raising capital through the collective effort of a large number of individual investors.</strong></li>
<li>This approach taps into the collective efforts of a large pool of individuals, primarily online via social media and crowdfunding platforms and leverages their networks for greater reach and exposure.</li>
</ul>
</li>
<li><strong>Types:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Donation-Based Crowdfunding:</strong> Donation-based crowdfunding is a way to source money for a project by asking a <strong>large number of contributors to individually donate a small amount to it.</strong> In return, the backers may receive token rewards that increase in prestige as the size of the donation increases. For the smallest sums, however, the funder may receive nothing at all.</li>
<li><strong>Rewards-Based Crowdfunding:</strong> Rewards-based crowdfunding involves <strong>individuals contributing to a business in exchange for a &ldquo;reward,&rdquo;</strong> typically a form of the product or service which company offers. Even though this method offers backers a reward, it&rsquo;s still generally considered a subset of donation-based crowdfunding since there is no financial or equity return.</li>
<li><strong>Equity-Based Crowdfunding:</strong> Unlike the donation-based and rewards-based methods, <strong>equity-based crowdfunding allows contributors to become part-owners of the company by trading capital for equity shares.</strong> As equity owners, the contributors receive a financial return on their investment and ultimately receive a share of the profits in the form of a dividend or distribution.</li>
</ul>
</li>
<li><strong>Benefits:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Reach &ndash;</strong> By using a crowdfunding platform, one has <strong>access to thousands of accredited investors</strong> who can see, interact with, and share the fundraising campaign.</li>
<li><strong>Presentation &ndash;</strong> By creating a crowdfunding campaign, <strong>one goes through the invaluable process of looking at the business from the top level&mdash;</strong>its history, traction, offerings, addressable market, value proposition, with digestible packages.</li>
<li><strong>PR &amp; Marketing &ndash;</strong> From launch to close, one can share and <strong>promote the campaign</strong> through social media, email newsletters, and other online marketing tactics.</li>
<li><strong>Validation of Concept &ndash;</strong> Presenting the concept or business to the masses affords an excellent opportunity to <strong>validate and refine offering.</strong></li>
<li><strong>Efficiency &ndash;</strong> One of the best things about online crowdfunding is its<strong> ability to centralize and streamline fundraising efforts.</strong></li>
</ul>
</li>
</ul>
<h3>Rare Diseases</h3>
<ul style="list-style-type: square;">
<li>A rare disease is a <strong>health condition of low prevalence</strong> that <strong>affects a small number of people</strong> compared with other prevalent diseases in the general population.<br />
<ul style="list-style-type: circle;">
<li>There is<strong> no universally accepted definition of rare diseases</strong> and the definitions usually vary across different countries.</li>
</ul>
</li>
<li>Though rare diseases are of low prevalence and individually rare, collectively they affect a considerable proportion of the population.</li>
<li><strong>80% of rare diseases are genetic</strong> in origin and hence disproportionately impact children.</li>
<li>In <strong>India there are 56-72 million people affected by rare diseases.</strong></li>
</ul>
<div class="border-bg">
<p><strong>Duchenne Muscular Dystrophy (DMD)</strong></p>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>It is a<strong> genetic disorder</strong> characterized by<strong> progressive muscle degeneration and weakness</strong> due to the alterations of a protein called dystrophin that helps keep muscle cells intact.</li>
</ul>
</li>
<li><strong>Symptoms:</strong><br />
<ul style="list-style-type: circle;">
<li>Muscle weakness</li>
<li>Enlargement of the calves</li>
<li>A waddling gait</li>
<li>Lumbar lordosis (an inward curve of the spine)</li>
</ul>
</li>
</ul>
</div>
<p><a href="https://www.thehindu.com/news/cities/Delhi/explore-crowdfunding-to-help-two-children-with-rare-disease/article33595692.ece" target="_blank" rel="noopener"><strong>Source:TH</strong></a></p>',
		'posturl' => 'crowdfunding-for-rare-diseases',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 16 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7490,
		'category_id' => (int) 21,
		'title' => 'Government's Disinvestment Plans',
		'description' => '<h3>Why in News</h3>
<p>Recently, the Ministry of Finance has extended the bidding deadlines for the strategic <a href="/daily-updates/daily-news-analysis/strategic-disinvestment" target="_blank" rel="noopener"><strong>disinvestment</strong></a> of <strong>Pawan Hans</strong> by a month, citing logistical challenges faced by interested bidders due to the<a href="/daily-updates/daily-news-editorials/comprehensive-action-plan-for-covid-19" target="_blank" rel="noopener"><strong> Covid-19 pandemic.</strong></a></p>
<ul style="list-style-type: square;">
<li>Pawan Hans Limited is a <strong>helicopter service company</strong> based in New Delhi. It is a <a href="/to-the-points/paper3/sectors-of-indian-economy" target="_blank" rel="noopener"><strong>Mini Ratna</strong></a>-I category Public Sector Undertaking.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Background:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Government's Disinvestment Target for 2020-2021:</strong> Government <strong>plans to raise Rs. 2.1 lakh crore</strong> through disinvestment in 2020-21, with just about <strong>Rs. 14,000 crore raised</strong> so far through minority stake sales.</li>
<li><strong>New Public Sector Policy:</strong> As part of the <a href="/daily-updates/daily-news-analysis/atmanirbhar-bharat-and-economic-stimulus" target="_blank" rel="noopener"><strong>&lsquo;Aatmanirbhar Bharat Abhiyan&rsquo;</strong></a> package, the government in May 2020 had announced that there will be a maximum of four public sector companies in the strategic sectors, and state-owned firms in other segments will eventually be privatised.<br />
<ul style="list-style-type: disc;">
<li>Under the policy, <strong>a list of strategic sectors will be notified</strong> where there will be <strong>at least one and a maximum of four public sector enterprises,</strong> apart from private sector companies.</li>
<li>In <strong>other sectors, central public sector enterprises (CPSEs) will be privatised,</strong> depending on the feasibility.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Current Situation:</strong> <br />
<ul style="list-style-type: circle;">
<li>The <strong>Bidding deadline</strong> for the disinvestment of <strong>Pawan Hans</strong> has been <strong>extended by a month.</strong></li>
<li>Strategic sales of public sector firms like <a href="/daily-updates/daily-news-analysis/100-fdi-in-air-india-for-nris" target="_blank" rel="noopener"><strong>Air India</strong></a> and <strong>Bharat Petroleum Corporation Limited (BPCL)</strong> are unlikely to conclude this year.</li>
<li>Further amendments are needed to the LIC Act of 1986 to list the <a href="/daily-updates/daily-news-analysis/initial-public-offer-lic" target="_blank" rel="noopener"><strong>Life Insurance Corporation of India</strong> </a>on the markets.</li>
</ul>
</li>
<li><strong>Need for Disinvestment Proceeds:</strong><br />
<ul style="list-style-type: circle;">
<li>There is a pressure on the government to raise resources to<strong> support the economic recovery</strong> and meet expectations of higher outlays for healthcare.</li>
<li>The increase in public <strong>spending in the upcoming <a href="/to-the-points/paper3/government-budgeting#:~:text=The%20Union%20Minister%20of%20Finance,all%20sections%20of%20the%20society" target="_blank" rel="noopener">Budget</a></strong> will have to be financed to a large extent by garnering disinvestment proceeds and monetising assets.</li>
<li>To <strong>eliminate the need for the government&rsquo;s involvement in non-strategic areas.</strong></li>
</ul>
</li>
</ul>
<h3>Disinvestment</h3>
<ul style="list-style-type: square;">
<li>Disinvestment means<strong> sale or liquidation of assets by the government,</strong> usually Central and state public sector enterprises, projects, or other fixed assets.</li>
<li><a href="/daily-updates/daily-news-editorials/privatisation-of-pses" target="_blank" rel="noopener"><strong>The government undertakes disinvestment </strong></a>to<strong> reduce the fiscal burden</strong> on the exchequer, or<strong> to raise money</strong> for meeting specific needs, such as<strong> to bridge the revenue shortfall from other regular sources.</strong></li>
<li><a href="/to-the-points/paper3/strategic-disinvestment-1" target="_blank" rel="noopener"><strong>Strategic disinvestment</strong> </a>is the<strong> transfer of the ownership and control of a public sector entity to some other entity</strong> (mostly to a private sector entity).<br />
<ul style="list-style-type: circle;">
<li>Unlike the simple disinvestment, strategic sale implies a kind of privatization.</li>
</ul>
</li>
<li>The <strong>disinvestment commission defines strategic sale as the sale of a substantial portion of the Government shareholding of a central public sector enterprises (CPSE) of upto 50%,</strong> or such higher percentage as the competent authority may determine, along with transfer of management control.</li>
<li>The <a href="/daily-updates/daily-news-analysis/strategic-disinvestment" target="_blank" rel="noopener"><strong>Department of Investment and Public Asset Management (DIPAM)</strong> </a>under the Ministry of Finance is the nodal department for the strategic stake sale in the Public Sector Undertakings (PSUs).</li>
<li>Strategic disinvestment in India has been guided by the basic economic principle that the <strong>government should not be in the business to engage itself in manufacturing/producing goods and services in sectors where competitive markets have come of age.</strong><br />
<ul style="list-style-type: circle;">
<li>The economic potential of such entities may be better discovered in the hands of the strategic investors due to various factors, <strong>e.g. infusion of capital, technology up-gradation and efficient management practices etc.</strong></li>
</ul>
</li>
</ul>
<p><a href="https://www.thehindu.com/business/Industry/centre-extends-bidding-deadlines-for-pawan-hans-disinvestment/article33594869.ece#:~:text=The%20Finance%20Ministry%20has%20extended,to%20the%20COVID%2D19%20pandemic." target="_blank" rel="noopener"><strong>Source:TH</strong></a></p>',
		'posturl' => 'government-s-disinvestment-plans',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 17 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7488,
		'category_id' => (int) 21,
		'title' => '5G Technology',
		'description' => '<h3>Why in News</h3>
<p>Recently, the <strong>Department of Telecommunications (DoT)</strong> has sought inputs from telecom companies and other industry experts on the sale and use of <a href="/daily-updates/daily-news-analysis/spectrum-auctions" target="_blank" rel="noopener"><strong>radio frequency spectrum</strong> </a>over the next 10 years, including the 5G (Fifth Generation) bands.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Features of 5G Technology:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Millimeter wave spectrum:</strong> The 5G networks will operate in the<strong> millimeter wave spectrum</strong> (30-300 GHz) which have the advantage of sending large amounts of data at very high speeds because the frequency is so high, it experiences little interference from surrounding signals.</li>
<li><strong>Upgraded LTE:</strong> 5G is the latest upgrade in the<strong> <a href="/daily-updates/daily-news-analysis/5g-technology" target="_blank" rel="noopener">long-term evolution</a></strong> (LTE) mobile broadband networks.</li>
<li><strong>Internet speed:</strong> In the high-band spectrum of 5G, internet speeds have been tested to be as high as <strong>20 Gbps</strong> (gigabits per second) as compared to the maximum internet data speed in 4G recorded at 1 Gbps.<br />
<ul style="list-style-type: disc;">
<li>5G network speeds should have a<strong> peak data rate</strong> o<strong>f 20 Gb/s</strong> for the downlink and<strong> 10 Gb/s</strong> for the uplink.</li>
</ul>
</li>
<li><strong>Bands in 5G:</strong> 5G mainly work in 3 bands, <strong>namely low, mid and high frequency</strong> spectrum &mdash; all of which have their own uses as well as limitations.<br />
<ul style="list-style-type: disc;">
<li><strong>Low band spectrum:</strong> It has shown great promise in terms of coverage and speed of internet and data exchange however the maximum speed is <strong>limited to 100 Mbps</strong> (Megabits per second).</li>
<li><strong>Mid-band spectrum:</strong> It offers higher speeds compared to the low band, but has limitations in terms of coverage area and penetration of signals.</li>
<li><strong>High-band spectrum:</strong> It has the highest speed of all the three bands, but has extremely limited coverage and signal penetration strength.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Hurdles in Rolling Out 5G Technology: </strong><br />
<ul style="list-style-type: circle;">
<li><strong>Enabling critical infrastructures:</strong> 5G will require a<strong> fundamental change to the core architecture</strong> of the communication system. The major flaw of data transfer using 5G is that it can't carry data over longer distances. Hence, even 5G technology needs to be augmented to enable infrastructure.</li>
<li><strong>Financial liability on consumers:</strong> For transition from 4G to 5G technology, one has to upgrade to the latest cellular technology, thereby creating financial liability on consumers.</li>
<li><strong>Capital Inadequacy:</strong> Lack of flow of cash and adequate capital with the suitable telecom companies (like Bharti Airtel and Vodafone Idea) is delaying the 5G spectrum allocation.</li>
</ul>
</li>
<li><strong>Utility of 5G Applications:</strong> Combined with<a href="/daily-updates/daily-news-editorials/india-must-get-on-the-iot-highway-fast" target="_blank" rel="noopener"><strong> IoT</strong></a>, cloud, <a href="/to-the-points/paper3/big-data-1" target="_blank" rel="noopener"><strong>big data</strong></a>, <a href="/loksabha-rajyasabha-discussions/in-depth-artificial-intelligence" target="_blank" rel="noopener"><strong>AI</strong></a>, and <a href="/daily-updates/daily-news-analysis/edge-computing#:~:text=Edge%20computing%20is%20defined%20as,as%20endpoints%20like%20laptops%2C%20tablets." target="_blank" rel="noopener"><strong>edge computing</strong></a>, 5G could be a critical enabler of the <a href="/loksabha-rajyasabha-discussions/in-depth-industrial-revolution-4-0" target="_blank" rel="noopener"><strong>fourth industrial revolution</strong></a>. <br />
<ul style="list-style-type: circle;">
<li><strong>For India:</strong> 5G networks could improve the accessibility of services such as<strong><a href="/daily-updates/daily-news-editorials/payment-revolution-in-india" target="_blank" rel="noopener"> mobile banking</a> and healthcare</strong>, and enable exponential growth in opportunities for unemployed or underemployed people to engage in fulfilling and productive work. For this Government has rolled out enabling policies.</li>
</ul>
</li>
<li><strong>5G Enabling Policy:</strong> <br />
<ul style="list-style-type: circle;">
<li><a href="/daily-updates/daily-news-analysis/the-national-digital-communications-policy-2018#:~:text=The%20new%20National%20Digital%20Communications,in%20the%20Telecom%20Sector." target="_blank" rel="noopener"><strong>India&rsquo;s National Digital Communications Policy 2018</strong></a> highlights the importance of 5G when it states that the convergence of a cluster of revolutionary technologies including 5G, the cloud, Internet of Things (IoT) and data analytics, along with a growing<a href="/daily-updates/daily-news-analysis/the-start-up-india-fund" target="_blank" rel="noopener"><strong> start-up</strong></a> community, promise <strong>to accelerate and deepen its digital engagement,</strong> opening up a new horizon of opportunities.<br />
<ul style="list-style-type: disc;">
<li>It aims to reach 100% teledensity, high-speed internet highways and delivery of citizen-centric services electronically.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Global Progress on 5G:</strong><br />
<ul style="list-style-type: circle;">
<li>Global telecom companies have already started building 5G networks and rolling it out to their customers in many countries: <br />
<ul style="list-style-type: disc;">
<li>5G had been deployed in 50 cities in the United States.</li>
<li>South Korea has rolled out 5G to 85 cities.</li>
<li>Japan and China have too started 5G mobile service on a trial basis.</li>
</ul>
</li>
</ul>
</li>
</ul>
<p><a href="https://indianexpress.com/article/explained/what-is-5g-and-how-prepared-is-india-to-adapt-to-this-tech-7150641/" target="_blank" rel="noopener"><strong>Source:IE</strong></a></p>',
		'posturl' => '5g-technology-1',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 18 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7487,
		'category_id' => (int) 21,
		'title' => 'India’s Trade Deficit with China at Five-year Low in 2020',
		'description' => '<h3>Why in News</h3>
<p>The<strong> trade deficit,</strong> between India and China, declined to a <strong>five year-low of 45.8 billion USD</strong> in 2020, the<strong> lowest since 2015.</strong></p>
<ul style="list-style-type: square;">
<li><strong>Trade Deficit:</strong> A trade deficit is an amount by which the <strong>cost of a country's imports exceeds its exports.</strong></li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Bilateral Trade in 2020:</strong> Two-way trade in 2020 reached <strong>87.6 billion USD, down by 5.6%</strong> from 2019, according to new figures from <strong>China&rsquo;s General Administration of Customs</strong> (GAC).<br />
<ul style="list-style-type: circle;">
<li><strong>India&rsquo;s imports from China</strong> accounted for <strong>66.7 billion USD,</strong> declining by 10.8% year-on-year and the lowest figure since 2016.</li>
<li><strong>India&rsquo;s exports to China,</strong> however, <strong>rose to the highest figure on record,</strong> crossing the 20 billion USD mark and growing 16% in 2020.</li>
</ul>
</li>
<li><strong>Analysis:</strong><br />
<ul style="list-style-type: circle;">
<li>India&rsquo;s <strong>overall imports declined,</strong> due to slump in domestic demand in 2020.</li>
<li>There is, yet, no evidence to suggest India has <strong>replaced its import dependence on China</strong> by either sourcing those goods elsewhere or <strong>manufacturing them at home.</strong></li>
</ul>
</li>
<li><strong>India&rsquo;s Biggest Import from China (2019 data):</strong><br />
<ul style="list-style-type: circle;">
<li>Electrical machinery and equipment, organic chemicals fertilisers etc.</li>
</ul>
</li>
<li><strong>India&rsquo;s Top Exports to China (2019 data):</strong><br />
<ul style="list-style-type: circle;">
<li>Iron ore, organic chemicals, cotton and unfinished diamonds.</li>
<li>Further, the year 2020 saw a surge in demand for<strong> iron ore in China</strong> with a slew of <strong>new infrastructure projects</strong> aimed at <strong>reviving growth</strong> after the <a href="/daily-updates/daily-news-editorials/comprehensive-action-plan-for-covid-19" target="_blank" rel="noopener"><strong>Covid-19</strong> </a>slump.</li>
</ul>
</li>
<li><strong>Trade Deficit with China:</strong><br />
<ul style="list-style-type: circle;">
<li>The <strong>balance of trade between India and China</strong> is hugely<strong> tilted in the favour of the latter.</strong> India&rsquo;s trade deficit with China was 45.8 billion USD in 2020 and 56.77 billion USD in 2019.</li>
<li>The huge trade deficit with China could be<strong> attributed to two factors: narrow basket of commodities,</strong> mostly primary, that <strong>India exports to China</strong> and <strong>market access impediments for most of Indian agricultural products</strong> and the sectors where India is competitive in, such as pharmaceuticals, IT/IteS, etc.</li>
<li>Over time, India&rsquo;s raw material-based commodities have been overshadowed by Chinese exports of machinery, power-related equipment, telecom, organic chemicals and fertilisers.</li>
</ul>
</li>
<li><strong>Measures Taken to Reduce Import Dependence on China:</strong><br />
<ul style="list-style-type: circle;">
<li>The <a href="/daily-updates/daily-news-analysis/43-more-mobile-apps-banned" target="_blank" rel="noopener"><strong>ban on more than 100 Chinese apps</strong></a>, amidst <a href="/daily-updates/daily-news-analysis/india-china-conflict#:~:text=China%20views%20India%27s%20assertions%20regarding,due%20to%20Covid%2D19%20pandemic." target="_blank" rel="noopener"><strong>border tensions</strong></a> between the two countries in eastern Ladakh.</li>
<li>It has increased scrutiny of <strong>Chinese investments in many sectors,</strong> and is weighing a decision to keep Chinese companies out of <a href="/daily-updates/daily-news-analysis/5g-technology" target="_blank" rel="noopener"><strong>5G trials</strong></a>.</li>
<li>The government recently put <strong>import restrictions on tyres,</strong> while also making its <strong>prior <a href="/daily-updates/daily-news-analysis/new-fdi-rule#:~:text=The%20Government%20of%20India%20has,the%20current%20Covid%2D19%20pandemic." target="_blank" rel="noopener">approval mandatory for foreign investments from countries that share land border</a></strong> with India to curb "opportunistic takeovers" of domestic firms - a move which will <strong>restrict FDI from China.</strong></li>
<li>The Ministry of Commerce and Industry has<strong> also identified 12 sectors -</strong> food processing, organic farming, iron, aluminium and copper, agro chemicals, electronics, industrial machinery, furniture, leather and shoes, auto parts, textiles, and coveralls, masks, sanitisers and ventilators - to make India a global supplier and cut import bill.</li>
<li>To <strong>cut import dependency on China for APIs</strong> (Active Pharmaceutical Ingredients), the government in March <a href="/daily-updates/daily-news-analysis/schemes-approved-to-promote-drug-manufacturing" target="_blank" rel="noopener"><strong>approved a package</strong></a> comprising four schemes with a total outlay of Rs. 13,760 crore to boost domestic production of bulk drugs and medical devices in the country along with their exports.</li>
</ul>
</li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1610963346_image9.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1610963346_image9.png" style="display: block; margin-left: auto; margin-right: auto;" width="500" caption="false" /></a></p>
<p><a href="https://www.thehindu.com/business/Economy/indias-trade-with-china-falls-in-2020-deficit-at-five-year-low/article33581648.ece#:~:text=Photo%20Credit%3A%20Reuters-,The%20trade%20deficit%2C%20a%20source%20of%20friction%20between%20India%20and,billion%2C%20the%20lowest%20since%202015.&amp;text=China's%20total%20iron%20ore%20imports,China%20remains%20to%20be%20seen." target="_blank" rel="noopener"><strong>Source:TH</strong></a></p>',
		'posturl' => 'india-s-trade-deficit-with-china-at-five-year-low-in-2020',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	},
	(int) 19 => object(Cake\ORM\Entity) {

		'article_id' => (int) 7486,
		'category_id' => (int) 21,
		'title' => 'K-Shaped Economic Recovery',
		'description' => '<h3>Why in News</h3>
<p>Recently, the latest readings of the <strong>Nomura India Normalization Index (NINI)</strong> suggested the impact of <a href="/daily-updates/daily-news-editorials/covid-19-and-india-1" target="_blank" rel="noopener"><strong>Covid-19</strong> </a>on Indian Economy and the<strong> K-Shaped Recovery</strong> through which the Indian Economy is recovering.</p>
<ul style="list-style-type: square;">
<li><strong>Nomura Services India Private Limited</strong> (Nomura Holdings Inc) is a consumer services company.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Effect of Covid-19 on Households:</strong>
<ul style="list-style-type: circle;">
<li>Households<strong> at the top of the pyramid are likely to have seen their incomes largely protected, and savings rates forced up</strong> during the lockdown, increasing &lsquo;fuel in the tank&rsquo; to drive future consumption.</li>
<li>Households at <strong>the bottom are likely to have witnessed permanent hits to jobs and incomes.</strong></li>
</ul>
</li>
<li><strong>Effect of the Current Monetary Policy:</strong>
<ul style="list-style-type: circle;">
<li>A long lasting period of<a href="/daily-updates/daily-news-analysis/monetary-policy-rbi" target="_blank" rel="noopener"><strong> ultra-accommodative monetary policy</strong> </a>has led to a fall in real lending rates and spreads for corporates and households that should eventually come as lagged relief to the interest-sensitive sectors.</li>
<li>An <strong>economic spread</strong> is a measure of a company's ability to make money on its capital investments.</li>
</ul>
</li>
<li><strong>Impact of Vaccination:</strong>
<ul style="list-style-type: circle;">
<li>Lagging sectors such as travel, tourism and hospitality will finally emerge out of the effect of<strong> Covid-19.</strong></li>
</ul>
</li>
<li><strong>Economic Recovery after Covid-19:</strong>
<ul style="list-style-type: circle;">
<li>As the <a href="/daily-updates/daily-news-analysis/increased-fiscal-deficit" target="_blank" rel="noopener"><strong>fiscal deficit</strong> </a>in FY 2020-21 has widened to roughly 7% of GDP, which is double the pre-pandemic target of 3.5 % of GDP. The government may, therefore, feel encouraged to <strong>rely on higher fuel taxes, disinvestment, and sin taxes to bolster coffers.</strong></li>
<li>India is going through a<strong> K-shaped recovery,</strong> wherein corporates and households with stronger balance sheets have recovered more robustly, while smaller firms and poorer households probably remain<strong> trapped in a vicious cycle of poverty and indebtedness</strong> instigated by the <a href="/daily-updates/daily-news-analysis/covid-19-now-pandemic-who" target="_blank" rel="noopener"><strong>pandemic</strong></a>.</li>
</ul>
</li>
</ul>
<h3>Economic Recovery</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>It is the<strong> business cycle stage</strong> following a <a href="/daily-updates/daily-news-analysis/technical-recession-in-india" target="_blank" rel="noopener"><strong>recession</strong></a> that is characterized by a sustained period of improving business activity.</li>
<li>Normally, during an economic recovery, <strong>GDP</strong> grows, incomes rise, and unemployment falls and as the economy rebounds.</li>
</ul>
</li>
<li><strong>Types:</strong> <br />
<ul style="list-style-type: circle;">
<li>Economic recovery can take many forms, which is depicted using alphabetic notations. For example, a <a href="/daily-updates/daily-news-analysis/shapes-of-economic-recovery" target="_blank" rel="noopener"><strong>Z-shaped recovery, V-shaped recovery, U-shaped recovery, elongated U-shaped recovery, W-shaped recovery, L-shaped recovery</strong></a> and <strong>K-shaped recovery.</strong></li>
</ul>
</li>
<li><strong>K-Shaped Recovery:</strong><br />
<ul style="list-style-type: circle;">
<li>A K-shaped recovery occurs when, following a recession, <strong>different parts of the economy recover at different rates, times, or magnitudes.</strong> This is in contrast to an even, uniform recovery across sectors, industries, or groups of people.</li>
<li>A K-shaped recovery<strong> leads to changes in the structure of the economy</strong> or the broader society as economic outcomes and relations are fundamentally changed before and after the recession.</li>
<li>This type of recovery is called K-shaped because the path of <strong>different parts of the economy when charted together may diverge, resembling the two arms of the Roman letter "K."</strong></li>
</ul>
</li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1610962839_image4.png" target="_blank" rel="noopener"><strong><img class="content-img" src="http://www.drishtiias.com/images/uploads/1610962839_image4.png" style="display: block; margin-left: auto; margin-right: auto;" width="500" caption="false" /></strong></a></p>
<ul style="list-style-type: square;">
<li><strong>Implications of a K-Shaped Recovery after Covid:</strong> <br />
<ul style="list-style-type: circle;">
<li>Households at the bottom have experienced a permanent loss of income in the forms of jobs and wage cuts, this will be a <strong>recurring drag on demand, if the labour market does not heal faster.</strong></li>
<li>To the extent that Covid has triggered an effective income transfer from the poor to the rich, this <strong>will be demand-impeding because the poor have a higher marginal propensity to consume (i.e. they tend to spend-instead of saving) a much higher proportion of their income.</strong></li>
<li>If Covid-19 reduces competition or increases the inequality of incomes and opportunities, <strong>it could impinge on trend growth in developing economies by hurting productivity and tightening political economy constraints.</strong></li>
</ul>
</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li>Given the <strong>K-shaped recovery</strong> and the new <strong>&ldquo;pandemic poor&rdquo;,</strong> the budgets for spending heads such as<strong> subsidies, employment generation, rural development and other social sector programmes</strong> are likely to remain large. The <strong>vaccination costs</strong> add to the bill. The government will also have to sharpen its focus on <strong>capital spending</strong> to contain damage to potential growth.</li>
</ul>
<p><a href="https://indianexpress.com/section/opinion/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
		'posturl' => 'k-shaped-economic-recovery',
		'publishon' => object(Cake\I18n\FrozenTime) {},
		'tag' => 'GS Paper - 3',
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'articles'
	
	}
]
$tags = [
	(int) 0 => object(Cake\ORM\Entity) {

		'id' => (int) 423,
		'tag' => 'GS Paper - 3',
		'colorcode' => 'FFFFFF',
		'posturl' => 'GS-paper-3',
		'status' => (int) 1,
		'sort_order' => (int) 2,
		'type' => (int) 0,
		'relivant' => (float) 1,
		'metatitle' => 'GS Paper - 3',
		'metakeyword' => 'GS Paper - 3',
		'metadescription' => 'GS Paper - 3',
		'addedby' => (int) 17,
		'updatedby' => (int) 15,
		'added' => object(Cake\I18n\FrozenTime) {},
		'modified' => object(Cake\I18n\FrozenTime) {},
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'tags'
	
	}
]
$title = 'Article Tags'
$lastyear = (int) 2018
$year = '2021'
$i = (int) 2017
$selected = ''
$m = (int) 13
$month = 'December'

include - ROOT/plugins/Drishti/src/Template/Element/rightsection.ctp, line 100
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1196
Cake\View\View::_render() - CORE/src/View/View.php, line 1157
Cake\View\View::_renderElement() - CORE/src/View/View.php, line 1554
Cake\View\View::element() - CORE/src/View/View.php, line 668
include - ROOT/plugins/Drishti/src/Template/Element/articlebox.ctp, line 5
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1196
Cake\View\View::_render() - CORE/src/View/View.php, line 1157
Cake\View\View::_renderElement() - CORE/src/View/View.php, line 1554
Cake\View\View::element() - CORE/src/View/View.php, line 668
include - ROOT/plugins/Drishti/src/Template/Articles/tags.ctp, line 61
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1196
Cake\View\View::_render() - CORE/src/View/View.php, line 1157
Cake\View\View::render() - CORE/src/View/View.php, line 765
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 623
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 125
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 93

Achievers Corner

Prelims

Mains & Interview

Current Affairs

Drishti Specials

Free Downloads

Test Series

Videos

Tag Search Results

You searched “GS Paper - 3”. Your tag search matches the following results: