‘K-shaped’ recovery

ECONOMY

• The idea that India’s economy has recovered in a “K-shaped” manner following the Covid-19 outbreak has been contested recently by Finance Minister Nirmala Sitharaman.

Context:

• A narrative that the Indian economy is in poor shape is reportedly being developed, according to Finance Minister Nirmala Sitharaman.

About’K-shaped’ recovery:-

• When different sectors of the economy recover at different rates, periods, or magnitudes after a recession, this is known as a K-shaped recovery.
• An even, consistent recovery across sectors, industries, or demographic groupings contrasts with this.
• The stage of the business cycle that comes after a recession is known as the “economic recovery,” and it is defined by a prolonged period of increased company activity.
• The various shapes that economic recovery can take are shown by the alphabetic notation.
• Z-shaped, V-shaped, U-shaped, extended U-shaped, W-shaped, L-shaped, and K-shaped recovery are a few examples of recovery shapes.
• Since the economic results and relationships are essentially altered both before and after the recession, a K-shaped recovery results in modifications to the economic structure or the larger society.
• The reason this kind of recovery is known as K-shaped is that, when plotted collectively, the paths of several economic sectors may diverge, evoking the two arms of the Roman letter “K.”

Sagarmala Program

• During the 75th Republic Day parade, the Ministry of Ports, Shipping, and Waterways (MoPSW) proudly exhibited its Tableaux, a visual portrayal of the innovative Sagarmala Program.

Background:-

• Turnaround times have been drastically lowered by this flagship program, improving the effectiveness of cargo handling at all ports.

About Sagarmala Program:-

• Launched: On March 25, 2015, the Union Cabinet gave its approval for the Sagarmala concept.
• Ministry: Ministry of Waterways, Ports, and Shipping (MoPSW).

Objective: to promote port-led development in the country.

Background Information in History:

• A National Perspective Plan (NPP) for the overall development of India’s coastline and maritime sector has been produced as part of the program, and it was unveiled by the Hon’ble Prime Minister during the Maritime India Summit on April 14, 2016.

Key Elements:

• The Sagarmala Program’s goal is to lower domestic and export trade logistics costs while requiring the least amount of infrastructure development.
• This comprises: lowering the cost of local freight transportation by maximizing the mode mix Locating future industrial facilities close to the coast will reduce the logistics costs associated with bulk commodities. Building port-proximate discrete manufacturing clusters to increase export competitiveness maximizing the cost/time of moving EXIM containers.
• Through the extension of rail, inland water, coastal, and road services, it seeks to improve connectivity with major economic centers and beyond, cultivate access to new development regions with intermodal solutions, and promote the ideal modal split.

Components:-

• There are five main components that make up the Sagarmala Program. These are:
• Port Development and Modernization
• Improvement of Port Connectivity
• Industrialization connected to ports
• Development of Coastal Communities
• The encouragement of inland waterways and coastal shipping in India.

Benefits:-

• In ports and the maritime industry, it will close skill gaps and generate jobs.

World Trade Organization (WTO)

A new proposal to relaunch the World Trade Organization’s (WTO) dispute settlement process was recently blocked by the US.

Context:

• This is the 73rd time that a proposal made on behalf of 130 members by Guatemala, a nation in Central America, has failed to start the selection process.
• Since 2017, the US has prevented new judges from being appointed to the WTO’s seven-member appellate court due to concerns about US sovereignty and judicial activism at the WTO.

About World Trade Organization (WTO):-

• Founded in 1995.
• Head Office: Geneva, Switzerland.
• There are 164 members.
• India is a WTO member. (China’s WTO Developing Status)
• The global trade regulatory system is controlled by the WTO.
• It aids in the development of developing nations’ trade capabilities.
• Additionally, it offers a platform for members to bargain over trade agreements and settle trade disputes with one another.

Historical Background:-

• It was created after the April 15, 1994, ratification of the Marrakesh Agreement.
• The Marrakesh Agreement took the place of the General Agreement on Tariff and Trade.
• The GATT lacked an institutional framework and was merely a collection of multilateral agreements and guidelines.
• Following the termination of the GATT 1947, the WTO maintained its rules and continued to oversee the trade of goods under the GATT 1994.
• It is the sole worldwide institution that deals with international trade regulations.

Idate Commission

• The National Human Rights Commission (NHRC) has emphasized how crucial it is to carry out the Idate Commission report’s recommendations.

Context:

• An open forum on the protection of India’s unnotified, semi-nomadic, and nomadic tribes as well as their future direction was arranged by the NHRC.

About Idate Commission:-

• Founded in 2014.
• In charge is Bhiku Ramji Idate.
• The goal is to create a statewide database of nomadic, denotified, and semi-nomadic tribes (DNTs).
• The National Commission for Denotified Nomadic and Semi-Nomadic Tribes sent in its findings in May of last year.
• The commission was established for an initial three-year period.
• It was required to turn in a report listing these communities by state, evaluating their level of development, and making recommendations for how to improve them.

Important Recommendations:-

• According to the research, Denotified Nomadic and Semi-Nomadic Tribes are among the most impoverished, marginalized, and oppressed communities, experiencing societal stigma, atrocities, and isolation.
• The Atrocities Act should be used to protect Denotified Nomadic and Semi-Nomadic Tribes in the communities, according to the commission’s recommendation.
• In order to add Scheduled NT/DNT/SNT as a third group after Scheduled Castes and Scheduled Tribes in the Act, the Idate Commission has recommended amending the Constitution.
• Assign people to the OBC category who are not listed among the SCs, STs, or OBCs.
• Establish a permanent commission for the DNTs, SNTs, and NTs with legal standing.
• Establish a separate department in states with sizable populations to handle the welfare of these people.
• To assess the number and distribution of DNT families, conduct a comprehensive survey.

Major Committees/Commissions for NTs, SNTs, and DNTs Communities:-

• The Committee of Inquiry into Criminal Tribes, 1947.
• Committee Ayyangar Ananthasayanam, 1949.
• The first OBC Commission, or Kaka Kalelkar Commission, was established in 1953.
• The Mandal Commission of B P (1980).

Kashmiri saffron

• Recent reports suggest that Kashmiri saffron may become the new silver.

Background:-

• At ₹3.25 lakh per kilogram, this popular Kashmiri spice is more expensive than gold.

About Kashmiri saffron:-

• Saffron production in the Union territory of Jammu & Kashmir has always been restricted to a small geographic area.
• Production of saffron is mostly derived from the Pampore region of India, also referred to as the Saffron Bowl of Kashmir.
• Longer and thicker stigmas, a naturally occurring deep red color, a strong aroma, a bitter flavor, chemical-free processing, and a high concentration of crocin (a coloring agent), safranal (a flavoring agent), and picrocrocin (a bitterness) are some of Kashmir saffron’s distinctive qualities.
• Saffron corms, or seeds, are grown in India in the months of June and July, as well as in certain locations in August and September.
• Many medical benefits of it include decreasing blood pressure, curing anemia, relieving headaches, and helping with sleeplessness.
• Enhances skin quality, minimizes spots, reduces pigmentation, and has cosmetic effects.
• essential component of traditional recipes.

Hazrat Nizamuddin Aulia Dargah

• Emmanuel Macron, the president of France, recently traveled to Delhi to see Hazrat Nizamuddin Aulia Dargah.

Background:-

• Macron affirmed the long-standing friendship between France and India and expressed gratitude for the warm welcome given to his group during a banquet held by President Droupadi Murmu.

About Hazrat Nizamuddin Aulia Dargah:-

• The Hazrat Nizamuddin Aulia Dargah is situated in the Nizamuddin West neighborhood of Delhi.
• It is the mausoleum of Nizamuddin Auliya, a well-known Sufi saint who lived from 1238 to 1325 CE.
• One of the most well-known Sufi saints to come out of the Indian subcontinent was Syed Muhammad Nizamuddin Auliya.
• He was also referred to as Hazrat Nizamuddin and Mahbub-e-Ilahi (Beloved of God), and he was a Sufi saint of the Chishti Order and a scholar of Sunni Islam.
• The 14th century C.E. saw its construction.
• It is made up of a square room with verandas all around it that are broken up by arched entrances.
• The black marble dome is adorned with vertical stripes and has a lotus crest on top.
• There’s a stepwell on Dargah’s northern flank.