Art & Culture
- Sexual Harassment Charges against Chief Justice of India Ranjan Gogoi
- All You Need to know about Electoral Bonds
- Electoral Bonds controversy
- NaMo TV controversy
- General Elections 2019
- RBI Governor bats for a Permanent Status to Finance Commission
- PM Modi’s Mission Shakti Speech & Model Code of Conduct
- Sadhvi Pragya Thakur’s latest Controversy
- Rafale deal document controversy
- Should SC Judges be under RTI ambit?
- Supreme Court Judgement on Tainted Candidates
- VVPAT verification
Governance & Social Justice
- Candida Auris : Drug- resistant fungi
- Candida auris infection
- Healthcare System for India, Difference in USA & European healthcare model?
- Lateral Entry in Civil Services explained
- Model policy for Women in Police
- NIRF India Rankings 2019 declared
- Quality Assurance Scheme
- Sex on false promise of marriage is rape
- Survey 2019 Ambitions Beyond Growth report by UNESCAP
- World Health Statistics Overview 2019 report on Life Expectancy
- World Press Freedom Index 2019
- Supreme Court compensation order on Bilkis Bano case
- WHO guidelines on physical activity for children under 5 years of age
- Global Talent Competitive Index 2019
- Algeria Political Crisis
- EU’s new Copyright Law, Will it change Web Worldwide?
- India Pakistan Kartarpur Corridor Talks
- India to Become NATO Ally?
- Japan Starts a New Era
- Julian Assange Arrested
- Sudan Political Crisis
- Trump designates Islamic Revolutionary Guard Corps of Iran
- United Nations Has to Pay India $38 Million
- US labels Revolutionary Guard of Iran a terror organisation
- US Mexico border wall controversy
- Why is UAE Important for India?
- Why is Chile Important for India?
- India Pakistan Conflict De-escalation Mechanisms
- India suspends cross LoC trade with Pakistan
- What is Arab Spring 2.0?
- India to stop buying Oil from Iran
- Trump withdraws from UN arms treaty
- Asian Development Outlook 2019
- China’s growth after slowdown
- Foreign Investment in India
- India’s 20th Livestock Census
- India’s transition to Renewable Energy from conventional sources
- Indian Army Builds The Longest Bridge of India Over Indus In Leh
- India Energy Modelling Forum by NITI Aayog & USAID
- National Common Mobility Card launched
- Rise and fall of Private Airlines in India
- Rise in Global Crude Oil prices & weakening Rupee
- Slowdown in Industrial Growth & rising Inflation
- Supreme Court order on EPFO
- Supreme Court quashes RBI’s 12 February Circular on NPA
- What are Junk Bonds?
- What is Fixed Maturity Plans?
- What is GDP deflator? Is it more comprehensive compared to WPI and CPI?
- What is Trader’s Credit Card Scheme?
- What is Wholesale Price Index?
- 1st Bimonthly Monetary Policy review – April 2019
- National Rubber Policy 2019
- Sensex hits 7 months high, History & Functions of Bombay Stock Exchange
- Supreme Court orders RBI on RTI
- What is Dedollarisation?
- Asian Tea Alliance
- Pepsico vs Farmers Issue
Defence & Security
Science & Technology
- Dhanush Artillery Guns
- Combat Casualty Drugs
- The Indian Museum of the Earth (TIME)
- EMISAT Satellite Launched
- Faster Adoption & Manufacturing of Hybrid & Electric
- First Ever Image of a Black Hole
- India to Buy MH60 Romeo Helicopters
- Nepal and Sri Lanka Launch Their First Satellites Raavana 1 & NepaliSat-1
- Nirbhay Missile Successfully Tested
- High Bacteriophages in Ganga River
- Army invokes Emergency Powers for Missile Deal
- Cell Based Meat
- INS Imphal Guided Missile Destroyer
- Draft Indian Forest Act 2019
- Gujarat Fishermen’s victory in US Supreme Court
- Humpback Mahseer Fish included in Critically Endangered list by IUCN
- India Cooling Action Plan (ICAP)
- Jammu & Kashmir Environment Issues
- Madras High Court order on Chennai Salem Highway
- Monkey declared Vermin in Himachal Pradesh
- Neelakurinji Flower under Severe Threat
- Solar eWaste
- Special Postal Stamp on Ice Stupas released
- State of Global Climate report 2018
- What is Green Finance Ecosystem?
- Wind turbines are impacting ecology in Western Ghats
- All about Wild Food Plants
Spice of the Month
- GS 2 || Governance & Social Justice || Human Development || Concept of Development
Why in news?
- Recently a report, Survey 2019: Ambitions Beyond Growth was published by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).
- The UN defines 17 SDGs as a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.
- These include targets such as “No poverty”, “Zero hunger”, “Good health and well-being”, “Quality education” and “Gender equality”.
- Concerns: Rising financial instability, household debts, non-performing assets and trade wars can put growth at risk, which will further hurt poverty eradication programmes.
- The report flags rising household and corporate debts — Malaysia, Thailand and the Republic of Korea have rising household debts; and China has fast expanding corporate debts.
- The emergence of non-bank online consumer loans has also generated new risks, with higher default rates than mortgage loans.
- Investment: The UNESCAP, a regional arm of the UN, notes in the report that the region needs additional annual investment of $1.5 trillion — equivalent to a dollar per person per day to achieve SDGs by 2030.
- The report also notes that this spending is within the reach of many countries given their fiscal space and potential to leverage private investment.
- The new report argues that keeping the old paradigm of prioritising GDP growth at all costs is neither feasible nor desirable.
- Balanced investment package: Instead, UNESCAP proposes an investment package, equivalent to 5% of the combined GDP of Asia-Pacific developing countries in 2018, that includes:
- $669 billion to support basic human rights and develop human capacities
- $590 billion to achieve clean energy for all and live in harmony with nature
- $196 billion for improved access to transport, information and communications technology (ICT), and water and sanitation.
- Closing this investment gap is within reach for many countries, but the gap is widest in countries which can least afford to narrow it.
- Multilateral financing mechanisms: North-South, South-South and triangular cooperation as well as strengthened multilateral financing mechanisms will be essential to accelerating the pace of sustainable development.
- Innovative financial instruments such as green bonds and promoting new investor classes can help leverage the massive $51 trillion in assets managed by the private financial sector in the developing Asia-Pacific region.
- Tax revenues: In addition, there is considerable potential to raise tax revenues in the region while improved investment efficiency.
Remark on Education
- The Asia-Pacific region significantly increased education access and average schooling years over the past several decades, but quality remains an issue.
- As of today, 92 million children in the region fail to obtain basic literacy and numerical skills even after completing primary school (World Bank, 2018).
- The report says that significant savings could be achieved through greater emphasis on education quality and outcomes.
- It cites UNESCO estimates in 2014 that globally, $129 billion was wasted annually due to the disconnect between schooling years and acquisition of basic skills alone.
- Using an efficiency frontier approach, Asia-Pacific developing countries on average could save more than 30% through efficiency gains without compromising on education performance.
- Strengthening teaching quality and teacher training is key to achieving better educational results.
- Rising NPA: The report also flags concern regarding India’s rising non-performing asset which can potentially derail the country’s efforts to achieve SDGs.
- Poverty: According to the C Rangarajan committee report, India has around 363 million people living in poverty.
- India needs to spend around 10 per cent of its GDP, while rest of Asia-Pacific countries need to spend 5 per cent of their GDP to achieve SDGs.
- India needs to spend nearly $2 (Rs140) per day per person to remove poverty, while rest of Asia-Pacific countries have to spend nearly $1 per day per person till 2030 to achieve Sustainable Development Goals (SDGs).
- Job creation: The UNESCAP report notes that India’s growth recovery from the economic shocks of demonetisation and Goods and Services tax may help the poor in the future.
- This growth would necessitate creation of enough jobs for those joining the labour force in order to prevent people being trapped in low-skilled, low-income and low-value work.
- The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) is the regional development arm of the United Nations for the Asia-Pacific region.
- It is established in 1947 with its headquarters in Bangkok, Thailand.
- Parent Organisation: UN ECOSOC
- India is a founding member of UNESCAP.
- “Too much focus on economic growth will lead to unsustainable growth, and will put future growth at risk.” Critically analyze in light of the Survey 2019: Ambitions Beyond Growth report released by the Economic and Social Commission for Asia and the Pacific (UNESCAP).