Watch KSG Explainer: #UNGA adopts Forward-Looking declaration to mark 75th anniversary of #United #Nations
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KSG Explainer: #UNGA adopts Forward-Looking declaration to mark 75th anniversary of #United #Nations
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Power Of Classroom Courses : All India 3 times Highest GS Score in Last 5 Years. Srushti Jayant Deshmukh (Rank 5 UPSC CSE 2018-19), Tina Dabi (Rank 1 UPSC…
Power Of Classroom Courses : All India 3 times Highest GS Score in Last 5 Years. Srushti Jayant Deshmukh (Rank 5 UPSC CSE 2018-19), Tina Dabi (Rank 1 UPSC…
Today's Headlines - 07 August 2023
Offshore mining and mineral auctions
GS Paper - 2 (Polity)
In a significant step toward exploiting India's offshore resources, the Council of States passed the Offshore Areas Mineral (Development and Regulation) Amendment Bill (OAMDR), 2023. The Bill represents a transformative change for the offshore mining sector, which has remained largely inactive since the enactment of the OAMDR Act in 2002.
More about the Bill
It aims to increase transparency in the allocation of minerals found in the country's offshore basins, permitting the granting of production leases exclusively through auctions and reserving some allocations for government entities and public sector units (PSUs).
The passage of the Bill marks a historic milestone, unlocking India's vast mineral-rich offshore areas.
This move promises strategic benefits, strengthening the nation's territorial waters, which have been frequently threatened by neighboring countries.
The extraction of minerals from these areas is expected to bolster India's strategic position further.
Auctions as primary means
The Bill stipulates a fixed 50-year production lease for offshore minerals. Under this new legislation, the government plans to introduce auctions as the primary means to award production leases for offshore minerals.
The amendment enables the granting of production leases to the private sector solely through competitive bidding auctions.
Under the composite licensing system, explorers will also have the right to develop and mine minerals under a single license.
The Bill introduces a four-year timeline for the start of production and dispatch following the execution of a composite license or production lease.
It also establishes a two-year timeline (extendable by one year) for the resumption of production and dispatch after a discontinuation.
#upsc #news #headline #offshore #mineral #polity #resources #development #regulation #OAMDR #bill #PSU #india #strategic #water #nations #territorial #award #production #lease #legislation #singlelicense #compositelicensing #historic #milestone #amendment
Offshore mining and mineral auctions
GS Paper - 2 (Polity)
In a significant step toward exploiting India's offshore resources, the Council of States passed the Offshore Areas Mineral (Development and Regulation) Amendment Bill (OAMDR), 2023. The Bill represents a transformative change for the offshore mining sector, which has remained largely inactive since the enactment of the OAMDR Act in 2002.
More about the Bill
It aims to increase transparency in the allocation of minerals found in the country's offshore basins, permitting the granting of production leases exclusively through auctions and reserving some allocations for government entities and public sector units (PSUs).
The passage of the Bill marks a historic milestone, unlocking India's vast mineral-rich offshore areas.
This move promises strategic benefits, strengthening the nation's territorial waters, which have been frequently threatened by neighboring countries.
The extraction of minerals from these areas is expected to bolster India's strategic position further.
Auctions as primary means
The Bill stipulates a fixed 50-year production lease for offshore minerals. Under this new legislation, the government plans to introduce auctions as the primary means to award production leases for offshore minerals.
The amendment enables the granting of production leases to the private sector solely through competitive bidding auctions.
Under the composite licensing system, explorers will also have the right to develop and mine minerals under a single license.
The Bill introduces a four-year timeline for the start of production and dispatch following the execution of a composite license or production lease.
It also establishes a two-year timeline (extendable by one year) for the resumption of production and dispatch after a discontinuation.
#upsc #news #headline #offshore #mineral #polity #resources #development #regulation #OAMDR #bill #PSU #india #strategic #water #nations #territorial #award #production #lease #legislation #singlelicense #compositelicensing #historic #milestone #amendment
Today's Headlines - 18 August 2023
Net zero carbon emission country
GS Paper - 3 (Environment)
Bhutan has emerged as a country with net zero emissions and not only curbed its carbon footprints, but has also transformed into a carbon sink, absorbing more carbon dioxide (CO2) than releasing, It reported that the recent report from the World Economic Forum revealed that the eight countries including Bhutan have attained an impressive feat of net zero emissions.
More about the News
Bhutan is one among the 196 nations that committed to the Paris Agreement during the UN Climate Change Conference focused on restricting global temperature increases to 1.5 degree Celsius above pre-industrial levels.
Apart from Bhutan, Comoros, nestled in the Indian Ocean and Gabon in Central Africa have managed to control the carbon emissions and set an example for other countries.
Comoros, by conscientiously managing its agricultural, fishing, and livestock sectors, complemented by rigorous environmental safeguards has maintained low emissions.
Bhutan's unique success as the first nation to achieve net zero emissions is rooted in its population of 8,00,000 and its remarkable forest coverage of 70%.
Why this achievement
The nation prioritizes sustainable organic farming and forestry practices, accentuated by the reliance on hydropower and the prudent management of its main economic driver, tourism.
Notably, Bhutan charges a $200 sustainable development fee per day from tourists, underscoring the value placed on eco-tourism and environmental protection.
It has been reported that another reason behind this control of emissions is the forests being an intrinsic part of its spiritual heritage.
Guided by a climate-conscious forest economy, Bhutan mitigates greenhouse gas emissions, preserves wildlife habitats, mitigates forest fires, and practices sustainable forest management for timber, fruit, and rubber - fostering a circular economy.
The nation has embarked on pilot projects that explore sustainable timber construction, showcasing innovative solutions.
Bhutan's journey to net zero emissions, fueled by an unyielding commitment to its environment and cultural heritage, is a source of inspiration for the world.
As nations navigate the complexities of climate change, Bhutan's story beckons us to embrace sustainable practices and safeguard our precious planet.
#upsc #news #headline #netzero #carbon #emission #country #enviroment #carbonfootprints #bhutan #carbondioxide #nations #climatechange #parisagreement #indianocean #gabon #africa #comoros #temperature #indianocean #safeguards #environmental #livestocks #sectors #rigorous #achievement #farming #tourism #reliance #heritage #economy #greenhouse #gas #wildlife #forestfires #cultural #world #embrace #planet #nations
Net zero carbon emission country
GS Paper - 3 (Environment)
Bhutan has emerged as a country with net zero emissions and not only curbed its carbon footprints, but has also transformed into a carbon sink, absorbing more carbon dioxide (CO2) than releasing, It reported that the recent report from the World Economic Forum revealed that the eight countries including Bhutan have attained an impressive feat of net zero emissions.
More about the News
Bhutan is one among the 196 nations that committed to the Paris Agreement during the UN Climate Change Conference focused on restricting global temperature increases to 1.5 degree Celsius above pre-industrial levels.
Apart from Bhutan, Comoros, nestled in the Indian Ocean and Gabon in Central Africa have managed to control the carbon emissions and set an example for other countries.
Comoros, by conscientiously managing its agricultural, fishing, and livestock sectors, complemented by rigorous environmental safeguards has maintained low emissions.
Bhutan's unique success as the first nation to achieve net zero emissions is rooted in its population of 8,00,000 and its remarkable forest coverage of 70%.
Why this achievement
The nation prioritizes sustainable organic farming and forestry practices, accentuated by the reliance on hydropower and the prudent management of its main economic driver, tourism.
Notably, Bhutan charges a $200 sustainable development fee per day from tourists, underscoring the value placed on eco-tourism and environmental protection.
It has been reported that another reason behind this control of emissions is the forests being an intrinsic part of its spiritual heritage.
Guided by a climate-conscious forest economy, Bhutan mitigates greenhouse gas emissions, preserves wildlife habitats, mitigates forest fires, and practices sustainable forest management for timber, fruit, and rubber - fostering a circular economy.
The nation has embarked on pilot projects that explore sustainable timber construction, showcasing innovative solutions.
Bhutan's journey to net zero emissions, fueled by an unyielding commitment to its environment and cultural heritage, is a source of inspiration for the world.
As nations navigate the complexities of climate change, Bhutan's story beckons us to embrace sustainable practices and safeguard our precious planet.
#upsc #news #headline #netzero #carbon #emission #country #enviroment #carbonfootprints #bhutan #carbondioxide #nations #climatechange #parisagreement #indianocean #gabon #africa #comoros #temperature #indianocean #safeguards #environmental #livestocks #sectors #rigorous #achievement #farming #tourism #reliance #heritage #economy #greenhouse #gas #wildlife #forestfires #cultural #world #embrace #planet #nations
Today's Headlines - 24 August 2023
Poor nations forced to rely on fossil fuels
GS Paper - 3 (Energy)
Poor countries with heavy debts have been forced to continue to rely on fossil fuels for generating revenue to return the loans taken from richer countries and private lenders to meet various economic exigencies like the pandemic three years ago, a new report said. These countries, mostly in the global south, may find it impossible to phase out fossil fuels and transition to renewable energy as revenues from fossil fuel projects “are often overinflated and require huge investments to reach expected returns, leading to further debt”.
What is the “debt-fossil fuel trap”?
The report, ‘The Debt-Fossil Fuel Trap’, published on 21 August 2023 by the anti-debt campaigners Debt Justice and partners in affected countries.
The global south — a term used for developing, less developing and underdeveloped countries, located in Africa, Latin America, and Asia — countries are increasingly being burdened by enormous debts in recent years.
Their “external debt payments (money borrowed from richer countries, or multilateral creditors like the World Bank and IMF, or private lenders such as banks) has gone up by 150% between 2011 and 2023, reaching their highest levels in 25 years”, said the report.
Moreover, 54 countries are in a debt crisis — they had to cut their public sending budgets during the pandemic to repay the loans, the analysis found.
The situation is worsened by extreme weather events, which force these countries to borrow more money as they lack adequate finances and resources for adaptation, mitigation and tackling loss and damage.
For instance, Dominica’s debt as a percentage of GDP rose from 68% to 78% after Hurricane Maria hit the island in 2017.
To deal with the mounting debts, these countries have turned to extracting more fossil fuels.
The country’s strategy to reduce debt may end up adding to debt levels without generating adequate revenue to repay, which could force Argentia to further expand its fossil fuel projects, the report added. This is known as the “debt-fossil fuel trap”.
Ending the high debt burdens
The report has laid out a few recommendations to help global south countries exit the “debt-fossil fuel trap”.
It said clean energy, wealthy governments and institutions must implement “ambitious debt cancellation for all countries that need it, across all creditors, free from economic conditions.
They should also stop accepting repayments made through fossil fuel projects’ revenue.
Meanwhile, “Bilateral and multilateral finance should be aligned with a 1.5 degree warming scenario and fair shares calculations, and not be used to finance fossil fuels.
#upsc #news #headline #nations #fossilfuels #energy #countries #revenue #pandemic #globalsouth #fuel #trap #africa #latin #worldbank #IMF #payments #GDP #island #dominica #strategy #projects #warming #bilateral #multilateral #finance #fairshares #america #asia #justice #renewable #poornations #forced
Poor nations forced to rely on fossil fuels
GS Paper - 3 (Energy)
Poor countries with heavy debts have been forced to continue to rely on fossil fuels for generating revenue to return the loans taken from richer countries and private lenders to meet various economic exigencies like the pandemic three years ago, a new report said. These countries, mostly in the global south, may find it impossible to phase out fossil fuels and transition to renewable energy as revenues from fossil fuel projects “are often overinflated and require huge investments to reach expected returns, leading to further debt”.
What is the “debt-fossil fuel trap”?
The report, ‘The Debt-Fossil Fuel Trap’, published on 21 August 2023 by the anti-debt campaigners Debt Justice and partners in affected countries.
The global south — a term used for developing, less developing and underdeveloped countries, located in Africa, Latin America, and Asia — countries are increasingly being burdened by enormous debts in recent years.
Their “external debt payments (money borrowed from richer countries, or multilateral creditors like the World Bank and IMF, or private lenders such as banks) has gone up by 150% between 2011 and 2023, reaching their highest levels in 25 years”, said the report.
Moreover, 54 countries are in a debt crisis — they had to cut their public sending budgets during the pandemic to repay the loans, the analysis found.
The situation is worsened by extreme weather events, which force these countries to borrow more money as they lack adequate finances and resources for adaptation, mitigation and tackling loss and damage.
For instance, Dominica’s debt as a percentage of GDP rose from 68% to 78% after Hurricane Maria hit the island in 2017.
To deal with the mounting debts, these countries have turned to extracting more fossil fuels.
The country’s strategy to reduce debt may end up adding to debt levels without generating adequate revenue to repay, which could force Argentia to further expand its fossil fuel projects, the report added. This is known as the “debt-fossil fuel trap”.
Ending the high debt burdens
The report has laid out a few recommendations to help global south countries exit the “debt-fossil fuel trap”.
It said clean energy, wealthy governments and institutions must implement “ambitious debt cancellation for all countries that need it, across all creditors, free from economic conditions.
They should also stop accepting repayments made through fossil fuel projects’ revenue.
Meanwhile, “Bilateral and multilateral finance should be aligned with a 1.5 degree warming scenario and fair shares calculations, and not be used to finance fossil fuels.
#upsc #news #headline #nations #fossilfuels #energy #countries #revenue #pandemic #globalsouth #fuel #trap #africa #latin #worldbank #IMF #payments #GDP #island #dominica #strategy #projects #warming #bilateral #multilateral #finance #fairshares #america #asia #justice #renewable #poornations #forced
Today's Headlines - 04 September 2023
G20 agree to boost information flow to small business
GS Paper - 2 (International Relations)
Trade ministers from G20 nations agreed to a ‘Jaipur Call for Action’ to boost information flow to small businesses to increase their participation, while seeking to build a ‘generic framework’ for mapping global value chains, cautioning against concentration of suppliers and markets.
More about the agreement
In addition, 10 high level principles on digitisation of trade documents were also agreed upon as countries seek to reduce the cost of trading across borders.
Although a communique could not be issued given the divergent position on Ukraine with Russia and China sticking to their stands, and the G7 seeking to highlight the conflict, commerce and industry minister Piyush Goyal told reporters that the contents of the outcome document and the chairs summary were decided unanimously.
Every country has agreed to all the issues… only paragraph 32, which is less than a quarter of a page out of a 17-page document, is an area where we could not get consensus for obvious reasons.
Since the first G20 ministerial meeting under India’s presidency, a meeting of finance ministers and central bank governors in Bengaluru, the Ukraine conflict has driven a wedge between the members of the all-powerful alliance.
In the coming years, various agencies will work on putting together the framework to implement the decisions.
The move on global value chains will help all developing countries and cited the example of mobile manufacturing in India, arguing that it will help create a production eco-system and also generate jobs and investment.
The minister underlined the importance of MSMEs, an issue that was flagged by PM Narendra Modi.
There are concerns over Big Tech and its dominance. Equal and affordable access for all has to be ensured.
The push is in line with the government’s initiatives such as ONDC and UPI, which are open source frameworks offering ease to consumers as well as a level playing field to businesses.
The outcome document took note of theuncertain near-term outlook for global trade and investments and underlined the need for “rules-based, non-discriminatory, fair, open, inclusive, equitable, sustainable and transparent multilateral system, with WTO at its core”.
It also called for apredictable and transparent regime for services trade, with easier rules for movement of professionals across borders —an issue which is of particular interest to India.
#upsc #news #headline #G20 #boost #smallbusiness #internationalrelations #tadeministers #nations #jaipur #generic #framework #global #valuechains #markets #broders #levelprinciples #divergent #ukraine #russia #china #paragraph32 #document #ministerial #india #presidency #trading #borders #digitisations #decisions #ONDC #UPI #equitable #WTO
G20 agree to boost information flow to small business
GS Paper - 2 (International Relations)
Trade ministers from G20 nations agreed to a ‘Jaipur Call for Action’ to boost information flow to small businesses to increase their participation, while seeking to build a ‘generic framework’ for mapping global value chains, cautioning against concentration of suppliers and markets.
More about the agreement
In addition, 10 high level principles on digitisation of trade documents were also agreed upon as countries seek to reduce the cost of trading across borders.
Although a communique could not be issued given the divergent position on Ukraine with Russia and China sticking to their stands, and the G7 seeking to highlight the conflict, commerce and industry minister Piyush Goyal told reporters that the contents of the outcome document and the chairs summary were decided unanimously.
Every country has agreed to all the issues… only paragraph 32, which is less than a quarter of a page out of a 17-page document, is an area where we could not get consensus for obvious reasons.
Since the first G20 ministerial meeting under India’s presidency, a meeting of finance ministers and central bank governors in Bengaluru, the Ukraine conflict has driven a wedge between the members of the all-powerful alliance.
In the coming years, various agencies will work on putting together the framework to implement the decisions.
The move on global value chains will help all developing countries and cited the example of mobile manufacturing in India, arguing that it will help create a production eco-system and also generate jobs and investment.
The minister underlined the importance of MSMEs, an issue that was flagged by PM Narendra Modi.
There are concerns over Big Tech and its dominance. Equal and affordable access for all has to be ensured.
The push is in line with the government’s initiatives such as ONDC and UPI, which are open source frameworks offering ease to consumers as well as a level playing field to businesses.
The outcome document took note of theuncertain near-term outlook for global trade and investments and underlined the need for “rules-based, non-discriminatory, fair, open, inclusive, equitable, sustainable and transparent multilateral system, with WTO at its core”.
It also called for apredictable and transparent regime for services trade, with easier rules for movement of professionals across borders —an issue which is of particular interest to India.
#upsc #news #headline #G20 #boost #smallbusiness #internationalrelations #tadeministers #nations #jaipur #generic #framework #global #valuechains #markets #broders #levelprinciples #divergent #ukraine #russia #china #paragraph32 #document #ministerial #india #presidency #trading #borders #digitisations #decisions #ONDC #UPI #equitable #WTO
Today's Headlines - 11 September 2023
India-Middle East-Europe mega economic corridor
GS Paper - 2 (International Relations)
Prime Minister Narendra Modi announced the launch of the India-Middle East-Europe mega economic corridor. The project includes India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US.
What is the project?
The rail and shipping corridor is part of the Partnership for Global Infrastructure Investment (PGII) — a collaborative effort by G7 nations to fund infrastructure projects in developing nations. PGII is considered to be the bloc’s counter to China’s Belt and Road Initiative.
The project will aim to enable greater trade among the involved countries, including energy products.
It could also be one of the more ambitious counters to China’s massive infrastructure program, through which it has sought to connect more of the world to that country’s economy, AP said.
The corridor will include a rail link as well as an electricity cable, a hydrogen pipeline and a high-speed data cable, according to a document prepared by European Commission President Ursula von der Leyen.
The document also called the project “a green and digital bridge across continents and civilizations.”
Why is the project being proposed?
First, it would increase prosperity among the countries involved through an increased flow of energy and digital communications.
Second, the project would help deal with the lack of infrastructure needed for growth in lower- and middle-income nations.
Third, it could help “turn the temperature down” on “turbulence and insecurity” coming out of the Middle East
#upsc #headline #news #india #middle #East #Europe #mega #economic #corridor #international #relations #UAE #saudiarabia #europeanunion #france #Itlay #germany #US #project #rail #PGII #China #BELT #Road #intiative #ountries #trade #hydrogen #pipeline #speed #data #cable #civilizations #infrastructure #income #nations #turbulence #insecurity #prosperity
India-Middle East-Europe mega economic corridor
GS Paper - 2 (International Relations)
Prime Minister Narendra Modi announced the launch of the India-Middle East-Europe mega economic corridor. The project includes India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US.
What is the project?
The rail and shipping corridor is part of the Partnership for Global Infrastructure Investment (PGII) — a collaborative effort by G7 nations to fund infrastructure projects in developing nations. PGII is considered to be the bloc’s counter to China’s Belt and Road Initiative.
The project will aim to enable greater trade among the involved countries, including energy products.
It could also be one of the more ambitious counters to China’s massive infrastructure program, through which it has sought to connect more of the world to that country’s economy, AP said.
The corridor will include a rail link as well as an electricity cable, a hydrogen pipeline and a high-speed data cable, according to a document prepared by European Commission President Ursula von der Leyen.
The document also called the project “a green and digital bridge across continents and civilizations.”
Why is the project being proposed?
First, it would increase prosperity among the countries involved through an increased flow of energy and digital communications.
Second, the project would help deal with the lack of infrastructure needed for growth in lower- and middle-income nations.
Third, it could help “turn the temperature down” on “turbulence and insecurity” coming out of the Middle East
#upsc #headline #news #india #middle #East #Europe #mega #economic #corridor #international #relations #UAE #saudiarabia #europeanunion #france #Itlay #germany #US #project #rail #PGII #China #BELT #Road #intiative #ountries #trade #hydrogen #pipeline #speed #data #cable #civilizations #infrastructure #income #nations #turbulence #insecurity #prosperity