[Mission 2024] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 28 December 2023

GS Paper 3

 Syllabus: Indian Economy: Employment

Context: The article is in continuation to the previous article published two days ago on India’s jobs crisis.

Recent Developments Regarding Rising Demand for Indian Labour:

Status:

As per recent government data, there are around 13 million Indian nationals abroad including labourers, professionals, and experts. The highest being in UAE (around 35 lakhs)

Government Steps: 

Benefits of Sending Indian Labor Overseas:

However, sending Indian labour overseas is not a comprehensive solution to India’s unemployment problem. The current composition of the workforce, with over 57% being self-employed, highlights the necessity for creating more gainful employment opportunities. What is needed is for India to take action by concurrently concentrating on job creation domestically and bolstering diplomatic efforts to promptly address challenges encountered by Indian workers abroad.

GS Paper 3

 Syllabus: Inclusive Growth

Source: TH

 Context: The article is based on the book “Breaking the Mould: Reimagining India’s Economic Future” and recommends departing from manufacturing and prioritizing the export of high-end services, challenging conventional economic approaches.

What is Inclusive growth?

Inclusive growth, as defined by OECD and UNDP, refers to fair economic growth that involves and benefits all segments of society, ensuring equal opportunities and outcomes irrespective of socio-economic factors.

India’s post-reform era, characterized by economic liberalization and globalization, has seen significant economic growth. However, this growth has not always translated into robust employment generation.

Factors that hindered India’s employment growth during the post-reform era:

• Structural issues: India’s economy continues to be characterized by a large informal sector with limited job security and social benefits. This has hindered inclusive employment growth as a significant portion of the workforce remains vulnerable.
  • g. 80 % workforce is employed in the informal sector.
• Skill mismatch: The skill gap between the education system and industry requirements has led to unemployment among the youth. India’s education system often fails to equip students with the practical skills demanded by the job market.
• g. Only 2.5% of engineers in India possess artificial intelligence skills while only 5.5% are qualified with basic programming abilities.
• Labour market regulations: Labour market regulations and inflexibilities have impeded employment growth. Stringent labour laws, although intended to protect workers, can discourage formal job creation, making employers hesitant to hire.
  • Example: The Industrial Disputes Act and other labour laws.
• Technological disruption: The job market in India is outgrowing traditional job roles with the advent of new-age tech and in the next five years, 40% of Indian employees will need reskilling and 60% will need to upskill to be market-ready.
• Gender Disparities: Gender disparities in employment persisted, with women often facing limited access to job opportunities, wage gaps, and social barriers to workforce participation.
  • g. decline in female labour force participation rate from 34.8% in 1990 to 20.3% in 2020.
• Public Sector Employment: The expansion of public sector employment, a traditional source of stable jobs, slowed down due to fiscal constraints, reducing opportunities for government jobs. E.g. Increased disinvestment and Privatisations of PSUs.
• Slow Industrialization: The pace of industrialization and the growth of labour-intensive manufacturing industries, crucial for absorbing a sizable workforce, lagged behind the demand.
  • Although the service sector expanded, it mainly generated employment in specialized fields like IT and business process outsourcing (BPO), excluding a significant portion of the workforce.

Measures to be taken:

The World Economic Forum suggests boosting social inclusion and economic growth through three practical ways:

1. Increase investment in citizens’ capabilities to lift productivity growth.
2. Upgrade national rules and institutions related to work, in collaboration with governments, employers’ organizations, and workers’ organizations.
3. Increase investment in labour-intensive economic sectors with broader societal benefits, including sustainable infrastructure, care sectors, rural economy, and education.

Conclusion

The government has taken various steps to tackle the issue of unemployment. Schemes like Pradhan Mantri Kaushal Vikas Yojana, Apprentice Protsahan Yojana, The National Career Service etc. are welcome steps in this regard

Insta links:

• Inclusive growth and issues arising from it

Content for Mains Enrichment:

Source: IE

 Context: Israeli youth 18-year-old Tal Mitnik have been imprisoned in Israel for conscientious objection to military service, particularly the assault on Gaza.

• Mitnik’s refusal is based on a commitment to working directly for a solution rather than participating in oppression and bloodshed.

What is conscience? 

Conscience refers to an individual’s internal moral and ethical awareness, guiding their sense of right and wrong.

What is a conscientious objector?

It is an individual who refuses to perform military service based on their conscience, often for ideological or religious reasons.

The concept gained international recognition through declarations such as the Universal Declaration of Human Rights, which emphasizes the right to freedom of thought, conscience, and religion.

Other examples of conscientious objection: Maximilianus in 295 CE, figures like Desmond Doss and Muhammad Ali

Usage: The example can be used in Essay/Ethics to show values of commitment to nonviolence, pacifism, and a strong moral or ethical stance against participation in armed conflicts.

Facts for Prelims (FFP)

Source: IE

Context: Veer Bal Diwas, which is observed on December 26  commemorate the martyrdom of Guru Gobind Singh’s younger sons, Sahibzada Zorawar Singh and Sahibzada Fateh Singh , along with their grandmother Mata Gujari.

• This day was officially designated as Veer Bal Diwas by the Indian government in January 2022.

Background:

• In December 1704, during the battle of Chamkaur, the Mughals and hill kings attacked Anandpur Sahib.
• Guru Gobind Singh’s family was separated during the chaos, with the elder sons sacrificing their lives in Chamkaur.
• The younger sons and their grandmother were imprisoned, and despite offers to convert to Islam, they refused and were bricked alive.

Facts for Prelims (FFP)

Source: PIB

 Context: Scientists from the Indian Institute of Geomagnetism (IIG) have conducted decade-long ionospheric observations at Bharati station in Antarctica, revealing significant seasonal variations in ionospheric density.

• Despite the region experiencing 24 hours of sunlight in summer and complete darkness in winter, day-night ionospheric density variations were observed.
• The researchers found the peak ionospheric density near local noon during the winter months, attributing it to particle precipitation and the transportation of convectional plasma from high latitudes.
• These long-term studies aim to enhance understanding of ionospheric effects on satellite-based navigation and communication systems.

Facts for Prelims (FFP)

Source: Reuters

 Context: Angola has decided to leave OPEC, a setback for the Saudi-led oil producer group.

Reason:

Angola argues that OPEC no longer serves its interests, following a dispute over its output quota. Angola’s exit, joining Ecuador and Qatar as former members, further challenges OPEC’s market share, which has been decreasing due to production cuts and rising output from non-OPEC countries.

About OPEC:

It was established in 1960 at the Baghdad Conference by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela, is an intergovernmental organization with key members including Algeria, Equatorial Guinea, Gabon, Libya, Nigeria, the Republic of the Congo, and the United Arab Emirates.

The organization’s primary objective is to coordinate and unify petroleum policies among member countries, ensuring fair and stable prices for petroleum producers and maintaining an efficient, economic, and regular supply of petroleum to consuming nations. With its headquarters in Vienna, Austria, OPEC holds significant global influence, possessing over 80% of the world’s total crude oil reserves.

OPEC+ represents approximately 40% of world oil production, comprising OPEC and 10 other major oil-exporting nations, including Russia. The organization regulates crude oil prices through mechanisms like spot or future sales, using Brent Crude as a benchmark for quality, with WTI (West Texas Intermediate) being another major Benchmark.

Facts for Prelims (FFP)

Source: Business Standard

Context: The National Payments Corporation of India (NPCI) has initiated the deployment of ‘UPI Tap and Pay’ across digital payment providers.

• The UPI Tap and Pay feature is currently live on the BHIM app and Paytm for limited users.

Features of UPI tap and pay:

• It utilizes near-field communication (NFC) technology to capture a payee’s UPI ID or Virtual Payment Address (VPA), eliminating the need for a camera.
• The feature can only be accessed on phones or devices with NFC capability.
• Users need to locate the ‘Tap & Pay’ button on their UPI app, and the transaction is completed by tapping the device on the UPI Smart Tag/Smart QR.
• Transactions up to ₹500 are processed through UPI LITE, while those exceeding ₹500 require a UPI PIN.

Facts for Prelims (FFP)

Source: IE

Context: The Securities and Exchange Board of India (SEBI) has proposed a new settlement cycle called T+0, allowing for the clearing and settlement of funds and securities on the same day of the trade, in addition to the existing T+1 settlement cycle.

• The proposal is part of SEBI’s efforts to keep pace with market changes, enhance investor protection, and make the securities markets more efficient.
• Surveillance measures applicable in the T+1 settlement cycle will apply to the T+0 settlement cycle.

It will be implemented in two phases:

Facts for Prelims (FFP)

Source: DST

 Context: Researchers developed a low-cost, non-invasive sensor for detecting formaldehyde adulteration in fish at room temperature.

• The sensor, made of tin oxide-reduced graphene oxide composite, overcomes the limitations of existing formalin sensors, which are either expensive or invasive.
• The graphene oxide’s low electrical conductivity was addressed by creating the tin oxide-reduced graphene oxide composite.
• The sensor demonstrated effective detection of formaldehyde vapor in adulterated fish samples, showing promise for addressing food adulteration issues.

Facts for Prelims (FFP)

Source: Hindustan Times

 Context: Researchers introduced a ground-breaking study on “electronic soil” (eSoil) in hydroponics, offering the potential for sustainable urban agriculture and food security.

• eSoil is an electrically conductive growth substrate derived from cellulose and a conductive polymer (PEDOT).
• It stimulates plant roots and the growth environment with low power, providing a safer and environmentally friendly alternative to traditional methods.
• eSoil works by electrically stimulating plant roots.
• This promotes effective and sustainable development, expanding the range of crops that can be grown hydroponically—without soil, using only water, nutrients, and a substrate.

The benefits of eSoil include low energy consumption, safety, and its compatibility with hydroponics, enabling urban agriculture to meet the challenges of a growing population and climate change.

Mapping:

Source: TH

 Context: The Central Zoo Authority (CZA) has approved the transfer of a cheetah, African lion, and Chimpanzee from Dubai Safari Park to Nandankanan Zoological Park (NZP) in Odisha.

The NZP, in exchange, will provide various animals including Hippopotamus, blackbuck, hog deer, gaur, red junglefowl, and gharial.