Foreign Portfolio Investors (FPIs) may now invest in Municipal Bonds, subjected to limits set for FPI investment in state development loans.[9] Municipal Bonds are debt instruments issued by a Nagar Panchayat, Municipal Council or Municipal Corporation. The current limit for investment in state development loans is 2% of outstanding stocks of securities.[10]
The measure is taken to broaden access of non-resident investors to debt instruments in India. Previously, FPIs were permitted to purchase securities such as dated government securities, treasury bills and credit enhanced bonds.
The Ministry of Housing and Urban Affairs released the draft National Urban Planning Framework (NUPF), 2018.[11] The NUPF is structured along two lines: (i) 10 core philosophical principles of urban planning, and (ii) these principles are then applied to ten functional areas of urban space and management. The framework provides recommendations on these functional areas.
Key recommendations include: City planning: Master plans should be dynamic and complemented with a strategic, action-oriented plan, and be linked to budgets. The plan must be developed with coordination and negotiation between agencies of land use, transportation, infrastructure service provision and economic development. The planning exercise should be participatory and embrace diverse resident views, including women, youth and immigrants.
Urban finance: States should set norms for cities to meet their revenue expenditure from own revenue and earmark a minimum amount for capital works. Where services can be measured and beneficiaries are identifiable, user charges should be assessed and collected.
Urban governance: Fragmentation of functions at the municipal level must be fixed by codifying the roles of Mayors, Commissioners, and Councils. The principle of subsidiarity should be used to devolve funds, functionaries and functions to different levels (ward committees/area sabhas, municipal and regional level).
Transportation: A Unified Metropolitan Transport Authority, with an overarching transport vision, must be created across all towns. It should also have the authority to make decisions on traffic flow planning, which is currently under the control of the traffic police.
Housing: A national housing stock must be created under the NUPF in collaboration with the Ministry of Rural Development, and as per the guidelines of Pradhan Mantri Awas Yojana. Different types of property rights must be evaluated against multiple ends: (i) enabling market exchange, (ii) securing tenure, and (iii) protecting against market-induced displacement. State policies should be designed to deliver and manage rental housing.
The India Meteorological Department (IMD) released its first long range (seasonal) forecast for southwest monsoon rainfall in 2019.[12] The monsoon seasonal rainfall (June-September 2019 period) is estimated to be 96% of the long period average (LPA), with an error of +/- 5%. Rainfall is considered to be normal if it ranges between 96-104% of the LPA. LPA is the average rainfall in a region during the period 1951 to 2000, which is 89 cm for the country as a whole.
In 2018, the southwest monsoon rainfall was estimated to be 97% of the LPA, whereas the actual rainfall was 91% of the LPA.[13]
The Ministry of Home Affairs issued orders to suspend trade along the Line of Control (LoC) in Jammu and Kashmir, with effect from April 19, 2019.[14] Note that LoC trade takes place through two trade facilitation centres in Baramulla and Poonch districts of Jammu and Kashmir for facilitating exchange of goods between local populations across the LoC. The decision was taken based on reports received by the central government that trade routes were being exploited for funnelling illegal weapons and narcotics.
AFSPA withdrawn from four police stations of Arunachal Pradesh The Ministry of Home Affairs has withdrawn the application of the Armed Forces (Special Powers) Act, 1958 (AFSPA) from the jurisdiction of four police stations.[15],[16] These police stations are: (i) Balemu and Bhalukpong districts in West Kamneg district, (ii) Seijosa in East Kameng district, (iii) Balijan in Papumpare district. Following the withdrawal, the Act will apply to three districts of Arunachal Pradesh and the jurisdiction falling within four police stations in the state.
The Cabinet Committee on Economic Affairs approved the extension of the New Urea Policy 2015 from April 1, 2019, till further orders.[17] The New Urea Policy was released in May 2015.[18] The policy seeks to increase indigenous urea production, promote energy efficiency in production, and reduce the subsidy burden on the central government.
The joint meetings of three conventions on chemicals and waste that is the fourteenth meeting of the Conference of the Parties (COP) to Basel Convention on the Control of Transboundary Movement of Hazardous Wastes and their Disposal (COP 14) was held along with the ninth meeting of the COP to Rotterdam Convention on the Prior Informed Consent Procedure for Certain Hazardous Chemicals and Pesticides in International Trade and the ninth meeting of the COP to Stockholm Convention on Persistent Organic Pollutants. The theme of the meetings this year was “Clean Planet, Healthy People: Sound Management of Chemicals and Waste”.
An Indian delegation of Ministry of Environment, Forest and Climate Change, and comprising other ministries such as Agriculture, Chemicals, and Electronics and Information Technology participated in the meeting held in Geneva, Switzerland, from 29 April to 10 May 2019.
In Basel Convention, two important issues were discussed and decided, i.e. technical guidelines on e-waste and inclusion of plastic waste in the PIC procedure. The draft technical guidelines stipulated the conditions when used electrical and electronic equipment destined for direct reuse, repair, refurbishment or failure analysis should be considered as non-waste. India had major reservations regarding these provisions as in the name of re-use, repair, refurbishment and failure analysis there was a possibility of dumping from the developed world to the developing countries including India in view of the growing consumption of electronic equipment and waste across the world. The Indian delegation strongly objected the proposed decision on these guidelines during plenary and did not allow it to be passed by the conference of the parties (COP).
Many rounds of multilateral and bilateral negotiations happened under the aegis of the Convention Secretariat in order to address India’s concerns which were supported by a large number of other developing countries. On the final day of the COP, a modified decision was adopted in which all the concerns raised by India were incorporated.
These were: dumping of e-waste in developing countries; recognition that the interim guideline has issues and further work is required specially on the provision on distinguishing waste from non-waste; the guidelines were adopted on an interim basis only; the tenure of the expert working group was extended to address the concerns raised by India; and the usage of interim guidelines to be done only on a pilot basis.
Due to the strong intervention by the Indian delegation, it was possible to defend the country’s interest against the potential dumping of e-waste by developed countries and thereby opened a window for further negotiations and corrections in the interim technical guidelines on e-waste.
Under the Basel Convention, another major achievement of COP 14 was the decision to amend the convention to include unsorted, mixed and contaminated plastic waste under PIC (Prior Informed Consent) procedure and improve the regulation of its transboundary movement. This is a significant step taken towards addressing plastic pollution which has become a major environmental concern across the globe.
Further, Basel Convention has also adopted partnership on plastic which was welcomed by the Indian delegation. These steps will help prevent the illegal dumping of plastic wastes in developing countries. India has already imposed a complete prohibition of import of solid plastic waste into the country. India has also made an international commitment to phase-out single-use plastic. India fully supported this exercise and one of the members of the Indian delegation was co-chair in the contact group which negotiated this agreement for amendment in the annexes of Basel Convention to bring plastic waste under PIC procedure.
Under the Stockholm Convention the COP decided to list “Dicofol” in Annex A without any exemption. The “PFOA” was also listed with some exemptions in the Annex A of the Stockholm Convention. Under the Rotterdam Convention, two new chemicals (Phorate and HBCD) were added in the list for mandatory PIC procedure in international trade.
Implementing agency: MoSPI has partnered with Common Service Centres, CSC e-Governance Services India Limited, a Special Purpose Vehicle under the MEITY as the implementing agency.
About Economic Censuses: Launched in 1976 as a plan scheme. Coverage: All entrepreneurial units in the country which are involved in any economic activities of either agricultural or non-agricultural sector which are engaged in production and/or distribution of goods and/or services not for the sole purpose of own consumption. Objective: It provides detailed information on operational and other characteristics such as number of establishments, number of persons employed, source of finance, type of ownership etc.
Significance: This information used for micro level/ decentralized planning and to assess contribution of various sectors of the economy in the gross domestic product (GDP). Total Six Economic Censuses (EC) have been conducted till date. First one was conducted in 1977 by CSO.
National Testing Agency About NTA: In pursuance of the Budget Announcement 2017-18, the Union Cabinet, in November 2017, approved creation of the National Testing Agency (NTA) as an autonomous and self-sustained premier testing organization to conduct entrance examinations for Higher Education Institutions (HEIs) in the country.
Constitution: NTA will be chaired by an eminent educationist appointed by MHRD. The CEO will be the Director General to be appointed by the Government. There will be a Board of Governors comprising members from user institutions. The Director General will be assisted by 9 verticals headed by academicians/ experts.
Finances: NTA will be given a one-time grant of Rs.25 crore from the Government of India to start its operation in the first year. Thereafter, it will be financially self-sustainable.
Context: Online writing of Annual Performance Appraisal Report (APAR) in SPARROW (Smart Performance Appraisal Report Recording Online Window) has been launched for over 46,000 Group B & C officers of Central Board of Indirect Taxes & Customs (CBIC), working in its various formations all across the country.
Background: Online writing of APARs in SPARROW for IRS (C&CE) Officers has already been implemented w.e.f. 2016-17.
What is it? This Project leverages modern technology for enhancing the overall efficiency and morale of the huge workforce working in Central GST and Customs formations of CBIC. The Project is an important milestone in the journey towards digitisation and paper less working. It brings a complete change in APAR management of such large number of Group ‘B’ & ‘C’ Officers/ Staff of CBIC, which would, in turn, lead to better HR Management.
The mission was named Artemis after the Greek mythological goddess of the Moon and twin sister to Apollo, namesake of the program that sent 12 American astronauts to the Moon between 1969 and 1972.
About Artemis Mission: ARTEMIS stands for Acceleration, Reconnection, Turbulence and Electrodynamics of Moon’s Interaction with the Sun. Objective: It consists of spacecraft to measure what happens when the Sun’s radiation hits our rocky moon, where there is no magnetic field to protect it.
Background: The ARTEMIS mission uses two of the five in-orbit spacecraft from another NASA Heliophysics constellation of satellites (THEMIS) that were launched in 2007 and successfully completed their mission earlier in 2010. The ARTEMIS mission allowed NASA to repurpose two in-orbit spacecraft to extend their useful science mission, saving tens of millions of taxpayer dollars instead of building and launching new spacecraft.
The 2018 edition covers a total of 45 economies (36 OECD and the rest non-OECD) and 22 sectors.
About STRI: Launched in 2014 and computed by the Organisation for Economic Cooperation and Development (OECD). The database is based on regulations currently in force.
Uses and significance: It helps to identify which policy measures restrict trade. It provides policy makers and negotiators with information and measurement tools to improve domestic policy environment, negotiate international agreements and open up international trade in services. It can also help governments identify best practice and then focus their domestic reform efforts on priority sectors and measures. Scores: STRI indices take the value from 0 to 1, where 0 is completely open and 1 is completely closed.
Issues and concerns raised by India: Design issues that render STRI impractical for use. For example, the index seems to show the Indian services sector as one of the most restrictive, particularly in policy areas like foreign entry. This seems surprising as since 1991, the one area that has seen maximum liberalisation in India is FDI.
Theoretical and empirical inconsistencies in the OECD methodology. For example, change in regulatory measures in one policy area can lead to dramatic changes in the STRI in another policy area which is not very useful for policy purposes. Developed country bias: The data seems to have been generated by rather arbitrary procedures and reflects a developed country bias.
The core theme of the vision document is ‘Empowering Exceptional (E)payment Experience’, that stresses on empowering every Indian to access a bunch of e-payment options safely and conveniently.
Highlights of Payment Systems Vision 2021: It has 36 specific action points and 12 specific outcomes. The main agenda of the vision document is the ‘no-compromise’ approach towards safety and security of payment systems. It outlined the measures that the central bank will undertake to foster innovation, cybersecurity, financial inclusion, customer protection, and competition.
The vision document aims to achieve “a ‘highly digital’ and ‘cash-lite’ society through Goal Posts (4Cs): Competition Cost effectiveness Convenience Confidence
Key focus areas: Boosting customer experience with robust grievance redressal Empowering e-payment service providers Enabling eco-system and infrastructure for the e-payment system Putting down forward-looking regulations Undertaking Risk-focused Supervision
Need: The RBI has highlighted the need for a self-regulatory organisation for the digital payment space, which can serve as a two-way communication channel between the players and the regulator.
The number of digital transactions is expected to increase more than four times, from 20.69 billion in December 2018 to 87.07 billion in December 2021. The digital payment transaction turnover vis-à-vis gross domestic product (at current market prices) is expected to further increase to 10.37 per cent in 2019, 12.29 per cent in 2020, and 14.80 per cent in 2021.
Way ahead: The RBI will implement the approach highlighted in the Vision document during the period 2019 – 2021. RBI’s efforts will focus towards facilitating the operation of efficient and price-attractive payment systems. However, there will be minimal intervention of the RBI in fixing charges for customers to avail of digital payments.
About Christchurch call to action: The initiative was launched during the “Online Extremism Summit” in Paris. It was launched jointly by India, France, New Zealand, Canada and several other countries. A total of 18 countries including the European Union supported the initiative along with social media giants like Twitter, Facebook, Google and Microsoft.
Aim to prevent the abuse of the internet. The initiative outlines collective and voluntary commitments from governments and online service providers to address the issue of terrorist and violent extremist content online. It calls for a free, open and secure internet to promote connectivity, enhance social inclusiveness and foster economic growth.
Background: The ‘Christchurch call to action’ initiative has been named after the New Zealand city Christchurch, where over 50 people were killed and over 20 got injured in shootings at two mosques.
Need: As internet is not resistant towards the abuse by terrorists and violent extremists, there is an urgent need of collective efforts to secure the internet from such terror groups. Recent Christchurch terror attacks were broadcasted online by terrorists. The broadcasting of such content online has severe impact on victims of such incident, on collective security and on people across the world.
The Christchurch attack stressed on the urgent call of action by the governments, civil society, online service providers, and social media companies to eliminate terrorist and extremist content online.
Context: To create a greener ecosystem in Ganga Basin National Mission for Clean Ganga has signed a Memorandum of Understanding (MoU) with HCL Foundation and INTACH. Its objective is to undertaking project of Plantation of Rudraksh Trees in Uttrakhand. It is a CSR initiative under Namani Gange Programme.
It aims at planting 10,000 Rudraksh trees in the Ganga Basin area in Uttarakhand in association with the local community. Elaeocarpus ganitrus or Rudraksh Tree is a large evergreen tree. It has broad-leaves whose seed is traditionally used for prayer beads in Hinduism and Buddhism. Seeds of this tree are known as Rudraksh.
‘Army scouts masters competition’: Context: India for the first time will host the ‘Army scouts masters competition’. The event is scheduled to be held between end of July to mid-August 2019, in Jaisalmer City, Rajasthan.
India will be a co-host of Army International Scout Masters Competition 2019, which marks first such edition in international competition in which a country is a host as well as a participant. The Army Scouts Masters Competition is a part of International Army Games steered by Russia. It is designed to forge strong ties with friendly foreign countries and to promote peaceful co-existence, collaboration, cooperation, team spirit, tranquility and development between contestants and at the same time facilitating sharing of best practices, hardware and technology.
Context: A recent paper in the Proceedings of the National Academy of Sciences of the U.S.A. shows that global warming during the past half century has contributed to a differential change in income across countries.
Concerns and challenges: Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services has reported that, worldwide, the abundance of species has reduced by at least one-fifth, about a million species are under threat of extinction in the next few decades and 85% of wetlands have been lost.
There are numerous instances of elite networks that are taking advantage of the situation to consolidate their control. These networks often involve governments actively or quiescently colluding with fossil fuel companies, agro-industrial elites, financial elites and other big businesses that are ignoring climate change and making a fast buck often even from the growing disasters.
The Arctic is melting rapidly and the tenor of the recent discussions among Arctic countries suggests that even as increasing glacier melt is responsible for opening up shipping in the area, superpowers are angling to access wealth from the oil, gas, uranium and precious metals in the region.
Policies and commitments make it clear that most governments and businesses are not interested in dealing with the climate and ecological crises. They will certainly not give these the central attention they deserve in these times of an emergency; they barely even acknowledge them. The atmosphere now has concentrations of over 415 parts per million (ppm) of carbon dioxide, compared to 280 ppm in pre-industrial times.
Need of the hour: We are now at a stage where we need major overhaul of our lifestyles and patterns of consumption. The U.K. Parliament became the first recently to declare a climate emergency. It remains to be seen if appropriate actions will follow this declaration.