Daily Mains Practice Questions 21-03-2023

KEY POINTS

·        India is now one of the fastest-growing economies globally. However, this growth has not resulted in a corresponding increase in its Human Development Index (HDI).

·        The HDI is a composite statistical measure created by the United Nations Development Programme to evaluate and compare the level of human development in different regions around the world

·        According to the Human Development Report of 2021-22, India ranks 132 out of 191 countries, behind Bangladesh (129) and Sri Lanka (73).

·        GSDP per capita is estimated using the population projection provided by the Registrar General of India’s office.

·        The methodology involves calculating the geometric mean of the normalised indices for the three dimensions of human development while applying the maximum and minimum values recommended by the UNDP and NSO.

·        Despite having the highest SGDP per capita among larger States, Gujarat and Haryana have failed to translate this advantage into human development and rank 21 and 10, respectively.

·        One of the main reasons for this discrepancy is that economic growth has been unevenly distributed. The top 10% of the Indian population holds over 77% of the wealth.

·        This requires a multi-faceted approach that addresses income inequality and gender inequality; improves access to quality social services; addresses environmental challenges.

KEY POINTS

·        The UK is the sixth largest investor in India, whilst India stands as the second largest investor in the UK.

·        Meanwhile The London Stock Exchange is the leading international listing venue for rupee-denominated bonds, having listed 48 bonds which have raised $7.16 billion.

·        However even without the trade deal there is still a lot our countries could do to improve cooperation particularly in green finance, fintech and asset management.

·        On green finance, for India to achieve its net zero targets, it will need to unlock the private capital. This is an area where the UK’s world leading expertise in green finance can assist.

·        A significant outcome  is the Green Growth Equity Fund, which launched with an initial £240 million fund jointly financed by the UK and Indian governments.

·        There are now more than 250,000 operations and technology professionals in India working directly for the UK financial services sector.

·        The creation of international fintech bridges (five currently) have helped to ease cross border friction and support businesses to scale up.

·        At a time when much of the world is seeing the rise of geopolitical tensions, the UK and India have decided to pursue a different path of cooperation, peace and low carbon growth.

KEY POINTS

·        The United Nations has declared 2023 as the International Year of Millets. Millets such as sorghum, bajra and ragi are strongly linked to Indian dietary traditions, which is why the country has for long been the largest producer of millets in the world.

·        It is no surprise that this cereal family is popular because it is energy dense, can be grown with ease in arid soils and, relative to grains such as rice, wheat and maize, is less susceptible to pests.

·        Coupled with guaranteed procurement by the government, the rice-wheat combination enabled India to be food secure even in droughts and climate blights.

·        Hybrid varieties of jowar and bajra exist, and that yields have not dramatically risen in decades despite this means that it would be unrealistic to expect quantum jumps in yield from technological tweaks alone.

·        Dietary shifts are slow processes and promoting certain grains as ‘superior’ or inferior is self-defeating as it ignores the economics of production and promotes cycles of hype  as seen in cash crops.

·        This can have consequences for marginal farmers. Letting all grains grow and helping a wider base of consumers access the cereal they want is a more sustainable enterprise.

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