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 - 11 September 2023
National Strategy for Robotics
GS Paper - 3 (Emerging technology)
The Ministry of Electronics and Information Technology (MeitY) has invited public comments as well as inputs from stakeholders on the draft "National Strategy for Robotics" (NSR). The strategy is aimed at "strengthening all pillars in the innovation cycle of robotic technology, while also providing a robust institutional framework for ensuring the effective implementation of these interventions. Presently, in terms of annual industrial installations, India ranks 10th globally as per the World Robotics Report, 2022.
What's in the draft?
The draft NSR proposes a policy framework for the implementation of robotics in various sectors, with the aim of making India a global robotics leader by 2030.
It also builds upon the mandates of the Make in India 2.0 plans, which identify robotics as one of the 27 sub-sectors to further enhance India's integration in the global value chain.
The draft has so far identified manufacturing, agriculture, healthcare, and national security as the four core sectors to prioritise robotics automation.
According to the current draft, MeitY will serve as the nodal agency for robotics, with a two-tier institutional framework to facilitate the implementation of the NSR.
The implementation will be directly undertaken under MeitY's 'National Robotics Mission' or the NRM.
The draft also proposes fiscal and non-fiscal interventions by the NRM, for upscaling innovation in robotics.
These interventions will be specifically aimed at developing funding mechanisms for robotics start-ups as well as promoting exports.
Major recommendations of the draft NFR
First and foremost, the NFR has recommended the creation of a robust regulatory framework, led by the Robotics Innovation Unit (RIU), an independent agency that will function under MeitY as a part of India AI.
The NFR also proposes the implementation of Centres of Excellence (CoEs) in Robotics.
The CoEs will be categorised under foundational and applied research. The NFR suggests that for application-based research, CoEs should enlist private sector intervention in priority sectors to help with experimental prototyping, as well as small-volume production for the initial phase of commercialisation.
The current draft also lays out clear plans for providing advisory support to start-ups, harnessing the research potential of higher education institutes, and the development of robotics industrial zones.
Why is the NFR needed?
Besides the aim of integrating robotics into the identified sectors, the draft also points out that "there is a general lack of adoption and growth of the robotics ecosystem in India."
The primary challenges are high import dependence, costly hardware components, and insufficient investments in research and development.
Robots consist of numerous complex and minute parts that need precise knowledge and skills for assembling.
The current state adoption of robotics in the country is "too ambitious, keeping in mind the lack of skilled resources, technical expertise impeding the growth of the robotics ecosystem in the country.
#upsc #headine #news #national #strategy #robotics #emerging #technology #ministry #technology #NSR #world #makeinindia #sectors #global #chain #policy #framework #Meity #pillars #cycle #healthcare #agriculture #security #implementation #draft #fiscal #nonfiscal #mechanisms #RIU #hardware #components #ambitious #resourses #technical #ecosystem
National Strategy for Robotics
GS Paper - 3 (Emerging technology)
The Ministry of Electronics and Information Technology (MeitY) has invited public comments as well as inputs from stakeholders on the draft "National Strategy for Robotics" (NSR). The strategy is aimed at "strengthening all pillars in the innovation cycle of robotic technology, while also providing a robust institutional framework for ensuring the effective implementation of these interventions. Presently, in terms of annual industrial installations, India ranks 10th globally as per the World Robotics Report, 2022.
What's in the draft?
The draft NSR proposes a policy framework for the implementation of robotics in various sectors, with the aim of making India a global robotics leader by 2030.
It also builds upon the mandates of the Make in India 2.0 plans, which identify robotics as one of the 27 sub-sectors to further enhance India's integration in the global value chain.
The draft has so far identified manufacturing, agriculture, healthcare, and national security as the four core sectors to prioritise robotics automation.
According to the current draft, MeitY will serve as the nodal agency for robotics, with a two-tier institutional framework to facilitate the implementation of the NSR.
The implementation will be directly undertaken under MeitY's 'National Robotics Mission' or the NRM.
The draft also proposes fiscal and non-fiscal interventions by the NRM, for upscaling innovation in robotics.
These interventions will be specifically aimed at developing funding mechanisms for robotics start-ups as well as promoting exports.
Major recommendations of the draft NFR
First and foremost, the NFR has recommended the creation of a robust regulatory framework, led by the Robotics Innovation Unit (RIU), an independent agency that will function under MeitY as a part of India AI.
The NFR also proposes the implementation of Centres of Excellence (CoEs) in Robotics.
The CoEs will be categorised under foundational and applied research. The NFR suggests that for application-based research, CoEs should enlist private sector intervention in priority sectors to help with experimental prototyping, as well as small-volume production for the initial phase of commercialisation.
The current draft also lays out clear plans for providing advisory support to start-ups, harnessing the research potential of higher education institutes, and the development of robotics industrial zones.
Why is the NFR needed?
Besides the aim of integrating robotics into the identified sectors, the draft also points out that "there is a general lack of adoption and growth of the robotics ecosystem in India."
The primary challenges are high import dependence, costly hardware components, and insufficient investments in research and development.
Robots consist of numerous complex and minute parts that need precise knowledge and skills for assembling.
The current state adoption of robotics in the country is "too ambitious, keeping in mind the lack of skilled resources, technical expertise impeding the growth of the robotics ecosystem in the country.
#upsc #headine #news #national #strategy #robotics #emerging #technology #ministry #technology #NSR #world #makeinindia #sectors #global #chain #policy #framework #Meity #pillars #cycle #healthcare #agriculture #security #implementation #draft #fiscal #nonfiscal #mechanisms #RIU #hardware #components #ambitious #resourses #technical #ecosystem
Discover how IAS Shubham Shukla (AIR-43) cleared the UPSC CSE 2021 exam with his strategies. Tap on the link below
https://youtu.be/TEbmZG2yBEw?si=I32gLk2_3Kqw2sha
https://youtu.be/TEbmZG2yBEw?si=I32gLk2_3Kqw2sha
YouTube
Strategy to cope with mental stress during UPSC #IAS Shubham Shukla AIR 43 CSE 2021 @KSG India
#upsc #strategy #revision #practice #mentalhealth #optionalchange #interview #aspirants
In this video, IAS Shubham Shukla is sharing his strategy to excel at UPSC along with taking care of mental health during the preparation.
ABOUT KSG INDIA:
KSG India…
In this video, IAS Shubham Shukla is sharing his strategy to excel at UPSC along with taking care of mental health during the preparation.
ABOUT KSG INDIA:
KSG India…
Discover how RIJU SHRIVASTAVA (AIR-124) cleared the UPSC CSE 2021 exam with her strategies. Tap on the link below
https://youtu.be/K-Si-cSnoTs?si=wMRxvohVwXPlE_rC
https://youtu.be/K-Si-cSnoTs?si=wMRxvohVwXPlE_rC
YouTube
Mains answer writing is a crucial aspect of the UPSC exam #RIJU SHRIVASTAVA AIR 124 @KSG India
In this video RIJU SHRIVASTAVA AIR 124 has talked about the importance of mains answer writing and the role of revision and consistency in clearing the examination.
#upsc #iascoaching #ksgindia #revision #mainsanswerwriting #humanities #consistency #aspirants…
#upsc #iascoaching #ksgindia #revision #mainsanswerwriting #humanities #consistency #aspirants…
Discover how SURESH CHAUDHARY (AIR-757) cleared the UPSC CSE 2016 exam with his strategies. Tap on the link below
https://youtu.be/YUwN-VC6C7I?si=xkNXCS7MlVNtVYmE
https://youtu.be/YUwN-VC6C7I?si=xkNXCS7MlVNtVYmE
YouTube
Important to keep a balanced focus on all subjects #SURESH CHAUDHARY AIR 757 @KSG India
In this video SURESH CHAUDHARY AIR 757 has talked about the importance of self study and addressing weak points during the preparation.
#aspirants #ksgindia #upsc #prelims #mains #interview #balancing #strategy #weak #selfstudy #civilservicescoaching #gspaper…
#aspirants #ksgindia #upsc #prelims #mains #interview #balancing #strategy #weak #selfstudy #civilservicescoaching #gspaper…