25-November-2024-Daily-Current-Affairs

INDIA’S URBAN INFRASTRUCTURE FINANCING

TOPIC: (GS3) INDIAN ECONOMY: THE HINDU

A World Bank report highlights that India will require ₹70 lakh crore by 2036 for urban infrastructure, but current annual investments are far below this level. Addressing this challenge requires innovative strategies, reforms, and collaborative efforts.

Urban Infrastructure Financing: Current Scenario

• Funding Gap: India needs ₹4.6 lakh crore annually for urban infrastructure but invests only ₹1.3 lakh crore. Half of this amount is needed for basic services, while the other half is for urban transport projects.
• Weak Municipal Finances: Municipal bodies contribute 45% of urban investments but rely heavily on state and central government transfers. Municipal revenues have remained stagnant at 1% of GDP since 2002, with limited growth in tax and non-tax revenue.
• Revenue Collection Challenges: Urban Local Bodies (ULBs) collect only 5%-20% of their potential tax revenue. Property tax contributes just 0.15% of GDP, and cost recovery for services is as low as 20%-50%.
• Inefficient Utilization of Funds: Approximately 23% of municipal revenue remains unspent. Cities like Hyderabad and Chennai utilize only 50% of their budgets. Utilization rates for central schemes like AMRUT (80%) and Smart Cities Mission (70%) highlight inefficiencies.
• Decline in Public-Private Partnerships (PPPs): PPP investments in urban infrastructure fell drastically from ₹8,353 crore in 2012 to ₹467 crore in 2018. Viability concerns and lack of project-specific revenues deter private participation.

Key Solutions to Address Financial Challenges

• Strengthen State Finance Commissions to improve financial management at the municipal level.
• Empower municipalities with greater autonomy to manage resources effectively.
• Encourage private investments through mechanisms like municipal bonds and debt borrowing.

• Develop a Project Pipeline: Create a pool of 600-800 projects annually to attract private investment. Approximately 15% of the required investment can come through PPPs.
• Improve Project Preparation: Decouple financial assistance from project preparation to ensure well-designed, sustainable projects. Focus on financial, social, and environmental feasibility in project planning.
• Leverage Digital Public Infrastructure (DPI): Use digital tools to improve urban service delivery, particularly in public transport. Modernize operations to increase efficiency and ensure better management of public services.
• Capture Land Value: Integrate urban transport projects with surrounding development to harness land value. Align metro and rail projects with urban planning to create jobs near transit hubs.

Conclusion

India’s urban infrastructure needs are massive and urgent. Addressing these challenges requires a combination of structural reforms, effective project design, and leveraging digital and financial tools. Collaboration across government levels and active private sector participation are crucial to achieving sustainable urban growth. By implementing these strategies, India can transform its cities into inclusive and efficient urban spaces, meeting the demands of a rapidly growing population.

WHY THE WORLD NEEDS A GLOBAL PLASTIC TREATY

TOPIC: (GS3) ENVIRONMENT: INDIAN EXPRESS

Plastic, with its adaptability and versatility, is deeply ingrained in modern life. However, the surge in plastic production has resulted in widespread environmental and health concerns.

Recognizing this crisis, over 170 countries are meeting in Busan, South Korea, for the final round of negotiations for a legally binding global treaty to combat plastic pollution, including marine pollution. This initiative follows the 2022 UN Environmental Assembly (UNEA) agreement.

Why is a Global Plastic Treaty Needed?

Rising Plastic Production:

• Global plastic production doubled from 234 million tonnes (MT) in 2000 to 460 MT in 2019.
• Asia leads in production (50%), followed by North America (19%) and Europe (15%).
• By 2040, production is expected to reach 700 MT (OECD).

Low Recycling Rates and Persistent Waste:

• Plastics take 20–500 years to decompose.
• Only 10% of plastic waste has been recycled to date (The Lancet, 2023).
• Annual plastic waste generation is around 400 MT and could increase by 62% by 2050.

Environmental and Health Impact:

• Plastic waste often leaks into ecosystems, breaking into microplastics and nanoplastics.
• Chemicals in plastics are linked to severe health risks like cancer, diabetes, and reproductive disorders.
• Ecosystems, including marine, freshwater, and terrestrial habitats, are significantly harmed.

Climate Change Contribution:

• Plastics generated 3.6% of global greenhouse gas emissions in 2020.
• Production, primarily using fossil fuels, contributes 90% of emissions, while waste management contributes the rest.
• Emissions from plastic production could rise by 20% by 2050.

India’s Contribution:

• India accounts for 20% of global plastic pollution, emitting 9.3 MT annually, exceeding Nigeria, Indonesia, and China (Nature, 2023).

Key Issues Under Negotiation

• Life Cycle Approach: Developing rules to address plastic pollution from production to waste management. Potential bans on specific plastics, products, and harmful chemical additives.
• ‘Just Transition’: Discussions on transitioning affected workers and communities to sustainable alternatives.
• Diverging Positions: Oil-rich nations like Saudi Arabia, Russia, and India resist production caps and advocate waste management innovations. Rwanda, Peru, and the EU propose ambitious reduction targets (e.g., a 40% cut by 2040).
• Financing: Countries are debating private sector involvement and alignment of public and private investments.

India’s Position

• Opposition to Production Caps: India opposes restricting polymer production, stating it exceeds UNEA’s mandate.
• Financial and Technical Assistance: Advocates for financial support and technology transfer in the treaty.
• Harmful Chemical Regulation: Calls for scientific studies to guide decisions, favoring national-level regulation.
• Plastic Phase-Out: India banned 19 single-use plastic categories in 2022. Emphasizes that regulations must align with national conditions and priorities.

Conclusion

A global treaty on plastic pollution is crucial to address rising production, inadequate waste management, and the environmental and health crises associated with plastic. Balancing ambitious targets with fair and pragmatic measures will be key to ensuring global cooperation.

WHY SATELLITE SPACE JUNK MAY HARM THE ENVIRONMENT

TOPIC: (GS3) SCIENCE AND TECHNOLOGY: INDIAN EXPRESS

The growing number of satellites orbiting Earth has raised concerns about the environmental impact of space junk. With satellite numbers projected to rise dramatically, the environmental consequences could be severe, particularly for the ozone layer and atmospheric chemistry.

Pollution from Satellite Re-entry

Increasing Satellite Numbers:

• Currently, over 10,000 active satellites orbit Earth. This number may exceed 100,000 by the 2030s and could reach half a million in future decades.
• Most satellites end their life cycle by burning up in Earth’s atmosphere.

Pollutants Released During Burn-Up:

• Satellite disintegration emits aluminium, nitrogen oxides, and other harmful substances.
• A NOAA study found that 10% of aerosol particles in the stratosphere contain metals from satellite and rocket re-entries.
• Emissions of aluminium and nitrogen oxides increased significantly, from 3.3 billion grams in 2020 to 5.6 billion grams in 2022.
• Rocket launches also release pollutants like black carbon, carbon monoxide, aluminium oxide, and chlorine gases.

Impact of Satellite Pollution

Harm to the Ozone Layer:

• The ozone layer, which blocks 99% of harmful UV rays from the Sun, is at risk from pollutants like aluminium oxide.
• Aluminium oxide acts as a catalyst for ozone depletion, counteracting the success of the Montreal Protocol (1987), which banned ozone-depleting substances like CFCs.

Changes to Atmospheric Chemistry:

• Pollutants such as copper and other metals from spacecraft components can drive chemical reactions in the atmosphere.
• These reactions can create tiny particles that serve as cloud seeds, potentially altering weather patterns and climate.

Warming the Atmosphere:

• Soot from rocket engines absorbs solar radiation, which can heat the atmosphere and disturb its balance.

Why This Matters

Ripple Effects on Earth:

• Even small changes in atmospheric chemistry can disrupt the delicate balance of life on Earth, leading to unforeseen consequences.
• Harm to the ozone layer could increase UV radiation exposure, negatively affecting ecosystems and human health.

Potential for Long-Term Damage:

• The accumulation of pollutants in the upper atmosphere poses a long-term challenge, with potential effects on climate and weather systems.

Conclusion

The rising number of satellites and the pollutants they release during reentry represent a growing environmental threat. The impact on the ozone layer, atmospheric chemistry, and climate underscores the need for global action to regulate satellite launches and manage space debris sustainably. Protecting Earth’s atmosphere requires immediate attention to mitigate these emerging risks.

US SEC SUMMONS ADANI GROUP IN ALLEGED BRIBERY CASE

TOPIC: (GS2) INDIAN POLITY: THE HINDU

The US Securities and Exchange Commission (SEC) has initiated legal proceedings against the Adani Group and its founder, Gautam Adani, over allegations of bribery to secure solar energy contracts. This complex case, involving international jurisdictions, highlights legal challenges in serving summons to foreign nationals.

Background of the Case

Allegations:

• The Adani Group is accused of paying $265 million (₹2,200 crore) in bribes to Indian government officials between 2020 and 2024.
• These payments allegedly helped the group secure solar energy contracts expected to generate $2 billion in profits over 20 years.

Charges Filed:

• The US SEC and the Department of Justice (DOJ) have charged Gautam Adani, his nephew Sagar Adani, and Cyril Cabanes of Azure Power Global for their roles in a bribery scheme.
• The charges also include misleading investors about anti-bribery practices to raise $2 billion through loans and bonds.

Jurisdictional Challenges

• US SEC’s Limitations: The SEC cannot directly summon foreign nationals, including Gautam Adani and other defendants, due to jurisdictional restrictions.

• Summons must follow international legal protocols, including the 1965 Hague Convention and the Mutual Legal Assistance Treaty (MLAT) between India and the US.

• Diplomatic Procedure: The summons will be routed through diplomatic channels, involving the Indian Embassy in the US. The process may take time before the notices are officially served.

Details of the Summons

• Notice Requirements: The summons, issued by the New York Eastern District Court, requires the defendants to respond within 21 days of receipt. Failure to respond could result in a default judgment in favour of the SEC.
• Content of the Notice: The SEC demands an explanation from the defendants regarding the bribery allegations. Defendants must file their response or motion under US legal provisions.

Adani Group’s Response

• Denial of Allegations: The Adani Group has rejected the charges, calling them baseless and vowing to explore all legal options. The conglomerate emphasized its adherence to governance, transparency, and compliance across its global operations.
• Statement of Commitment: The group assured stakeholders of its law-abiding nature and pledged to address the allegations through proper legal channels.

Legal Context and Investigation

• US Indictment Process: An indictment is a formal charge issued by a grand jury, notifying the accused to prepare a legal defence. Defendants can hire legal representation to respond to the charges.
• Investigation Timeline: The US investigation began in 2022 but faced alleged obstruction. Prosecutors claim the bribery scheme was concealed to mislead US and global investors.
• Prosecutorial Remarks: US Attorney Breon Peace highlighted the importance of combating international corruption to protect market integrity. The charges aim to uphold fair practices in the global financial system.

Conclusion

The Adani Group faces serious allegations of corruption and investor fraud from US authorities. While the group denies wrongdoing, the case underscores the complexity of international legal processes and the challenges in addressing cross-border corruption. This issue could have significant implications for international business transparency and governance.

COP29 CLIMATE FINANCE AGREEMENT: INDIA’S PERSPECTIVE

TOPIC: (GS3) ENVIRONMENT: THE HINDU

The 29th Conference of the Parties (COP29) concluded in Baku, Azerbaijan, with a focus on climate finance and carbon markets. India expressed strong opposition to the adopted resolution, citing insufficient funding and procedural irregularities.

Key Highlights of COP29

• New Climate Finance Goal (NCQG): Aimed to mobilize $1.3 trillion annually by 2035. Developed nations committed to leading efforts, with $300 billion as a base target.

• The goal is to fund developing nations for transitioning away from fossil fuels and reducing emissions.

• Current Progress: $115 billion was mobilized by developed nations during 2021-22, falling short of the $100 billion target under the Paris Agreement. A new collective goal was to be finalized by 2025.
• Carbon Markets Agreement: Countries agreed on mechanisms to facilitate quicker and cost-effective emission reductions.

India’s Stance and Objections

• India rejected the finance package, calling it inadequate to address the climate crisis. Delegation representative Chandni Raina criticized the process, alleging it was manipulated to avoid addressing objections.

• Insufficient funding: India stated the financial package is “too little and too distant” to meet climate goals.
• Lack of trust: Highlighted the need for collaboration and transparency in global negotiations.
• Procedural issues: India objected to being denied an opportunity to express concerns before adoption.

Global Reactions

• Support for India’s Position: Countries like Nigeria, Bolivia, and Cuba echoed India’s concerns, describing the package as inadequate. Nigeria termed the agreement a “joke” in light of the severe challenges faced by developing nations.
• UN Perspective: Simon Stiell, UN Climate Change Executive Secretary, called the finance goal an “insurance policy for humanity” but emphasized the need for timely contributions.

Broader Implications

• Challenges for Developing Countries: The pledged amount remains insufficient for mitigation and adaptation needs in vulnerable nations. Critics argue that the process has been constrained by geopolitical considerations.
• Next Steps: The agreement demands stronger Nationally Determined Contributions (NDCs) by all nations in 2025. G20 nations like the UK and Brazil indicated plans to enhance climate action in their future NDCs.

Way Forward

• Strengthening Climate Finance: Developed countries must scale up contributions to meet the $1.3 trillion goal. Enhanced collaboration and trust-building are critical for meaningful climate action.
• Transparency in Negotiations: Addressing procedural gaps can ensure fair representation of all stakeholders.
• Focus on Carbon Markets: Agreements on carbon markets offer opportunities for accelerated emissions reductions if implemented effectively.

Conclusion

The COP29 agreement represents a step forward in global climate negotiations but falls short of addressing the financial needs of developing countries. For effective climate action, nations must work together to ensure equitable contributions and trust in the multilateral process. India’s dissent underscores the pressing need for a more inclusive and ambitious framework.

JOBS AT YOUR DOORSTEP REPORT

TOPIC: (GS2) INDIAN POLITY: THE HINDU

The Union Ministers of Education, Labour and Employment, and Youth Affairs recently launched the World Bank’s report, Jobs at Your Doorstep: A Jobs Diagnostics for Young People in Six States, at an event in New Delhi.

About the Jobs at Your Doorstep Report

• Acts as both a diagnostic tool and roadmap to align education with India’s jobs agenda.
• Aims to establish strategic linkages and convergence between skill-based education and employment opportunities.
• Analyses the job landscape in six states: Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan.
• Identifies key sectors and roles with the highest employment potential for secondary school graduates.

• Key Highlights: Conducts a skills gap analysis to align school trades with district-level industry needs. Advocates embedding skill-based education in Classes 9-12 to prepare students for diverse career paths. Relies on a bottom-up approach to skill development.
• Research Approach: Includes primary and secondary research under the STARS project to rethink skill education offerings in six states.

About the STARS Scheme

• Introduction: The STARS project began in 2021 and is set to run until FY 2024-25. Operates under the Department of School Education and Literacy, Ministry of Education, with World Bank support.
• Implementation: Covers six states: Himachal Pradesh, Maharashtra, Odisha, Rajasthan, Madhya Pradesh, and Kerala. Focuses on interventions to enhance the quality of education in these states.
• Objective: Carved out from the Samagra Shiksha scheme, emphasizing elements that directly support school education improvement.

Conclusion

The Jobs at Your Doorstep report provides valuable insights into linking education and employment, emphasizing skill-based learning in schools. The STARS scheme serves as a crucial framework to improve education quality and better prepare students for future careers.

PROJECT VEER GATHA 4.0.

TOPIC: (GS3) SEQURITY: PIB

Over 1.76 crore school students across all 36 States and Union Territories participated enthusiastically in Project Veer Gatha 4.0.

About Project Veer Gatha

• Launch Year: Introduced in 2021 to share inspiring stories of valour, selflessness, and courage of Gallantry Awardees. Aims to foster a sense of patriotism among students through these heroic tales.
• Objective: Encourages school students to engage in creative projects and activities highlighting the bravery and sacrifices of gallantry award winners.
• History: Successfully conducted three editions in 2021, 2022, and 2023.
• Collaboration: Jointly organized by the Ministry of Defence and the Ministry of Education.

Conclusion

Project Veer Gatha continues to inspire students by showcasing the extraordinary stories of courage, strengthening the patriotic spirit in the younger generation.

POBITORA WILDLIFE SANCTUARY

TOPIC: (GS3) ENVIRONMENT: PIB

Pobitora Wildlife Sanctuary is experiencing an increase in migratory birds with the onset of the winter season.

About Pobitora Wildlife Sanctuary

• Location: Situated on the southern bank of the Brahmaputra River in Morigaon district, near Guwahati, Assam.
• History: Declared a reserve forest in 1971 and upgraded to a wildlife sanctuary in 1987.
• Significance: Hosts the highest population density of Indian One-Horned Rhinoceroses (approximately 102 rhinos in a 38.8 sq. km area).
• Landscape: Characterized by alluvial lowlands and marshlands.

• North: Brahmaputra River.
• South: Garanga Beel (a waterbody).

• Flora: 72% of the sanctuary consists of wet savannah grasses. Water hyacinth (Eichornia crassipes) poses a significant issue by forming dense mats on water surfaces, impacting waterfowl.
• Fauna: Apart from rhinos, animals like leopards, wild boars, barking deer, and wild buffaloes are found.

• Home to 375+ bird species, including: Indian Pied Hornbill, Osprey, Hill Myna, Kalij Pheasant, and more.

Conclusion

Pobitora Wildlife Sanctuary stands out for its rich biodiversity, particularly its dense rhino population and variety of bird species, making it a vital ecological hub in Assam.