Does inequality lead to growth?

According to studies by scholars from “the Paris School of Economics,” inequality in modern India is higher than it was during the colonial era.

What is the impact of inequality on democratic processes?

• Concentration of Power: In comparison to the labor force, a small number of capitalists may hold monopoly power as a result of inequality. Because of this concentration, prices are controlled by powerful business groupings, which lowers real wages and lowers the purchasing power of the majority.
• Effect on Consumption and Welfare: Because of greater markups and lower real earnings, rising inequality can have a detrimental effect on both consumption and welfare.
• Workers that earn less in real earnings may afford fewer things, which lowers wellbeing and aggregate consumption.
• Impact on Democratic Processes: Unequal political power can result from economic inequality, which compromises democratic systems.
• Significant wealth can provide a person disproportionate influence over elections, policies, and political decisions, which can result in government that benefits the wealthy at the expense of the broader public.

How Redistribution and Growth Can Work Together Wealth Taxes and Redistribution:

• Redistributing and taxing wealth can boost economic growth by raising incomes and promoting consumption among the middle and lower groups, who are more likely to consume.
• Multiplier Effect: When an initial increase in investment results in a larger overall gain in income and consumption, redistribution can amplify this effect. Increased spending results from higher earnings for both laborers and products vendors, which fuels more economic activity and expansion.
• Investment and Profit hopes: Rather than previous wealth, investment is motivated by hopes for future profits. Taxing wealth does not, therefore, always result in less investment.
• Formation of New Entrepreneurs: By offering financial resources and lowering reliance on wage employment, redistribution can aid in the formation of new entrepreneurs. This may encourage competition and innovation, which would boost economic growth even more.
• Curtailing Monopolies: Real wages can rise and prices can drop when monopolistic power is diminished through redistribution and other policy measures. Increased demand from higher real wages spurs investment and economic growth.

In order to achieve SDG Goal 10 (Reduced Inequalities), addressing inequality through redistribution can advance inclusive growth, empowering marginalized populations and pushing progress towards a more equitable society.

How did land reforms in some parts of the country help to improve the socio-economic conditions of marginal and small farmers? (2021)

What Grade of Coal does India Produce?

The Sundhnuksgigar volcano erupted in southwest Iceland, forcing evacuations in the surrounding communities.

About Sundhnuksgigar Volcano

• On the Reykjanes peninsula, Sundhnuksgigar is a series of craters situated near the town of Grindavik.
• Situated at the divergent boundary where the North American and Eurasian tectonic plates are drifting apart, is the Mid-Atlantic Ridge.

Reasons for Iceland’s Volcanism

• Tectonic Activity: Iceland is located where the North American and Eurasian plates divide, on the Mid-Atlantic Ridge. In the rift zones created by this, magma rises to the surface and causes eruptions.
• Hotspots: Iceland is situated above a hotspot as well, which adds to the increased volcanic activity. Hotspots are places where mantle magma comes to the surface, causing eruptions to be fueled.
• Subglacial Volcanism: Certain eruptions in Iceland take place beneath glaciers, resulting in violent interactions between lava and ice. Volcanic activity in Iceland is not restricted to the surface. Strong steam explosions, ash clouds, and catastrophic floods known as jokulhlaup can result from these subglacial eruptions.

Mention the global occurrence of volcanic eruptions in 2021 and their impact on the regional environment. [2021]

1. Consider the following: [2013]
2. Electromagnetic radiation
3. Geothermal energy
4. Gravitational force
5. Plate movements
6. Rotation of the earth
7. Revolution of the earth

Which of the above are responsible for bringing dynamic changes on the surface of the earth?

(a) 1, 2, 3 and 4 only

(b) 1, 3, 5 and 6 only

(c) 2, 4, 5 and 6 only

(d) 1, 2, 3, 4, 5 and 6

SHANGRI LA DIALOGUE

Singapore hosted the 2024 Shangri-La Dialogue from May 31 to June 2, 2024.

Context:

• The premier defense forum in Asia is called the Shangri-La Dialogue. It’s a special gathering where ministers discuss the most critical security issues facing the area, hold significant bilateral discussions, and collaborate to develop novel solutions.

About Shangri La Dialogue

• An annual “Track One” intergovernmental security forum, the Shangri-La Dialogue (SLD) takes place in Singapore.
• The International Institute for Strategic Studies (IISS), an independent think institution, is in charge of organizing it. The Shangri-La Hotel in Singapore, the venue of the forum since 2002, is honored in the forum’s name.
• Defense ministers, permanent secretaries, and chiefs of military staff from predominantly Asia-Pacific states participate in the debate.
• It fosters a sense of camaraderie among the most influential decision-makers in the region’s defense and security community.
• Legislators, scholars, eminent journalists, and business representatives attend the conference in addition to government delegations.
• Singapore hosted the 2024 Shangri-La Dialogue from May 31 to June 2, 2024. The president of the Philippines, Ferdinand R. Marcos Jr., gave the keynote address.

Highlights from the 2024 conversation include the following:

• In a statement about the South China Sea dispute, the Philippines said that if Beijing’s continuous efforts in the region result in the death of a Filipino citizen, China and the Philippines would be “crossing the Rubicon”4.
• In an attempt to strengthen its naval power, Canada declared the deployment of an Arctic patrol ship of the Harry DeWolf class to the Indo-Pacific.
• One of the most significant independent forums for the interchange of opinions amongst decision-makers in international security policy is the Shangri-La Dialogue. It offers a special forum for discussion on Asia’s evolving security concerns amongst business executives, security specialists, and top government officials and ministers.

HEAT STROKE

As a severe heatwave swept the state over the previous 72 hours, Odisha recorded at least 99 suspected heatstroke deaths.

Context:

• The state’s western part is expected to experience scorching conditions, while the interior and coastal districts will likely experience hot, muggy weather, according to the IMD.

About Heat Stroke:

• The most dangerous heat-related ailment is heat stroke. It happens when the body loses the ability to regulate its temperature, causing the body to heat up quickly, stop sweating, and become unable to cool down.
• Heatstroke can swiftly harm your muscles, heart, brain, and kidneys if left untreated. The longer treatment is postponed, the worse the damage gets and the higher the chance of fatal complications.

Here are some key details about heat stroke:

• Heat stroke symptoms include flushed or reddened skin, rapid breathing, a fast heartbeat, headaches, weakness or cramping in the muscles, a high body temperature of 104°F or higher, altered mental state or behavior (such as confusion, agitation, slurred speech, irritability, delirium, seizures, and coma), and changes in sweating.
• Causes: Prolonged exposure to a hot environment or vigorous physical exertion during hot weather might result in heatstroke. Heatstroke can also result from wearing too much clothing, drinking too much alcohol, not drinking enough water or becoming dehydrated, getting older (because one’s tolerance for heat increases with age), not having proper air conditioning, taking certain medications that cause dehydration, and having medical conditions like lung and heart disease.
• Treatment: The goals of heatstroke treatments are to lower body temperature and shield internal organs from harm. Moving the overheated individual to a cool location, taking off extra clothing, encouraging them to drink cool water or a sports drink, and sponging or spraying them with cool water are all quick ways to help them cool off.
• Prevention: It is advised to stay inside during hot weather, wear loose-fitting, lightweight clothing in high temperatures, drink lots of water, protect yourself from sunburn, make sure no one is left in a parked car, get enough rest during long workdays, and exercise caution in hot weather if you have heart or lung conditions.

Automatic Weather Station (AWS)

The temperature of 52.9°C that was recently reported by an autonomous weather station (AWS) in Mungeshpur, Delhi, garnered media attention very fast. The India Meteorological Department (IMD) found that a malfunctioning sensor was the reason why the reading was 3°C higher than the real temperature.

AWS: What is it?

• A meteorological station that automatically transmits observations is called an Automated Weather Station (AWS). It makes use of four primary sensors: rainfall, pressure, temperature/humidity, and wind. An electrical resistance thermometer, which works on the basis that electrical resistance fluctuates with temperature changes, is used to estimate air temperature in degrees Celsius.
• Problems with AWS: Above a certain temperature, AWS accuracy starts to falter. Problems include not doing routine maintenance, miscalibration, and poor placement on concrete buildings.
• Additional Heat Measuring Tools: A thermometer inside a Stevenson Screen—a wooden cage that shields instruments from direct heat radiation and precipitation while promoting airflow—can be used to measure high temperatures.