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  • India should abandon its suspicion of digital currency

    The article discusses the advantages of central bank digital currency which could combine the advantages of both fiat money and cryptocurrency.

    India’s suspicion of the cryptocurrencies

    • In 2018, the Reserve Bank of India prohibited regulated entities from providing services to anyone who deals with or settles trades in any virtual currency.
    • This was effectively banning Bitcoin trading in the country.
    • The Supreme Court lifted this restriction in 2020.
    • There were rumours earlier this year that a new law was in the works that would make it a crime to possess, issue, mine, trade or transfer crypto assets in India.

    Thinking of digital currencies as asset not currency

    • There are concerns over the speculative nature of cryptocurrencies.
    • There are also law enforcement concerns around how digital currencies make it hard for the police to track down criminals.
    • One of the most important attributes of a currency is that it should be a stable store of value, and Bitcoin is anything but.
    • To deal with this difficulty, it will be helpful to think of digital currencies as just another asset—the digital equivalent of a scarce commodity that, like gold, certain collectors prize.

    Difference between working of banks and cryptocurrencies

    • Our financial system relies on banks to record transactions.
    • It is a ‘permissioned’ ledger system in that only trusted intermediaries-registered banks under the supervision of the central bank-can make changes to the ledgers to certify that a given transaction has been completed.
    • Cryptocurrencies, on the other hand, are ‘permissionless’ systems that need no intermediary.
    • Instead of a centralized ledger, transactions are recorded on a distributed database.
    • A purely permissionless system has no need of banks.

    Role of banks in maintaining financial health

    • Central banks are not just intermediaries managing the great big financial ledger of the country, they are responsible for its financial health.
    • To perform this function, they need to be able to take money out of the system when required or put money back into economic circulation.
    • None of this is possible in a purely permissionless system.

    Advantages of digitally native currencies

    • Digitally native currencies are programmable and capable of being incorporated into smart contracts, offering various opportunities for innovative digital solutions.
    • Since they can be directly allotted to citizens who don’t have a bank account, they are ideal for financial inclusion.
    • Being digitally auditable, transactions can be audited, reducing the scope for illicit activity.
    • The challenge is one of integrating the best that digital currencies have to offer into the traditional financial paradigm.

    Central bank digital currencies as an alternative

    • CBDCs are a completely re-engineered form of money that use a distributed ledger as their underlying technology layer, but are backed by suitable amounts of monetary reserves, just like normal fiat currency.
    • Many countries have been toying with the idea of a central bank digital currency (CBDC).
    • They are run by central banks along with select financial entities responsible for managing the distributed ledger.
    • The best CBDCs will converge the best of both worlds—the programability and security of cryptocurrencies and the reserve-backed stability of fiat currency.
    • Several countries are already testing this concept.

    How central bank digital currency differs from cryptocurrency? What are its advantages?”

    Conclusion

    Banning technology has never made it go away. Instead, let’s make an effort to better understand it, and having done so, do all we can to create the digital currency our country needs.

  • (Reminder) Revealed with with Zeeshan sir 6:30 pm, and Memory techniques bootcamp with Poorti ma’am 9 pm (Link inside)

    Zeeshan sir and Poorti ma’am will be live on Habitat for free sessions on Habitat. You don’t want to miss out on these sessions.

    Score Boosting Session with Zeeshan sir

    Time: 6:30 pm; Venue: Habitat- General club (Click here for link)

    Memory techniques with Poorti ma’am

    Time: 9:00 pm; Venue: Habitat- General club (Click here for link)

    https://youtu.be/-MgydTCBCkY

    Prelims is around the corner and Zeeshan sir is back with his signature sessions on Score Boosting and Tikdams for UPSC IAS prelims exam. These techniques can boost your score by 30 marks. Join Zeeshan sir at 6:30 pm.

    https://youtu.be/wJJUVdTPdJE

    Poorti, ma’am with her memory technique for UPSC IAS preparation will be taking mini Bootcamp sessions on Habitat. Since in this information-loaded exam memorizing things is a necessity Poorti ma’am will make it effortless for you. Learn the techniques.

    Join Poorti ma’am at 9 pm

    Instructions for joining Habitat

    1. Click here for Habitat
    2. If you haven’t registered already, click on ‘Register a new account’ and enter your details.
    3. Choose a username.
    4. That is it. Welcome to Habitat.

    For access through the Mobile app:

    1. Install the Mobile application (click here) from your Appstore.
    2. Use the same email id and password as you used above.

  • 17th March 2021| Daily Answer Writing Enhancement

    Important Announcement:  Topics to be covered on 18th March-

    GS-1  Salient features of world’s physical geography.

    GS-4 Ethics in private and public relationships.

    Question 1)

    Land reforms included structural and institutional changes in the ownership pattern, land tenure system, modernization of agricultural operations and changes in the supportive institutions at the level of the village community. Comment . 10 marks

    Question 2)

    The National Capital Territory of Delhi (Amendment) Bill, 2021 seeks to give effect to the Supreme Courts judgement in 2018. Do you think that the proposed bill will succeed in avoiding the conflict between Lt. Governor and the elected government. 10 marks

    Question 3)

    What is Artificial Intelligence? Explain the ways in which it could help human beings? What are the issues associated with it? 10 marks

    Question 4)  

    Virtue is a state that lies between two vices, one of excess and the other of deficiency. State your opinion. 10 marks

    home

    Reviews will be provided in a week. (In the order of submission- First come first serve basis). In case the answer is submitted late the review period may get extended to two weeks.

    *In case your answer is not reviewed in a week, reply to your answer saying *NOT CHECKED*. If Parth Sir’s tag is available then tag him.

    For the philosophy of AWE and payment, check  here: Click2Join

  • A robust economic relationship between India and U.S.

    The article outlines the potential for India-U.S. collaboration in certain ares of trade which will bring many gains.

    India-U.S. bilateral trade

    • In the five years to 2019, bilateral trade grew at a CAGR of 7.7% per year to $146 billion.
    • If we assume the same rate of growth, the $500 billion target will be achieved by 2036.
    • To ensure this, the CAGR would need to be set at 11.9%.
    • This is doable if the right policy actions are taken.

    Areas of collaboration

    1) Healthcare exchanges

    • A collaborative response to the pandemic would contribute to global containment of the virus.
    • Business partnerships are already taking place in the supply chain.
    • As India becomes the hub of global vaccine distribution, building confidence in the Indian IPR regime, reviving the U.S.-India Health Dialogue, and mutually recognising standards and approvals will help drive healthcare exchanges.

    2) Improving the macro trade architecture

    • The macro trade architecture can be strengthened with a broad trade agreement focusing on resolving the low-hanging fruit.
    • The U.S.-India Trade Policy Forum meetings can be revived along with a cross-sector track-2 group to look at convergence on issues such as market access.
    • There is potential for flexibility from both sides for restoring the Generalised System of Preferences.
    • The two countries should consider initiating discussions on a free trade agreement.

    3) Trade in services

    • Recent regulations in the U.S. have impacted labour mobility which can be addressed through immigration reforms for employment-based visa backlogs and smooth and timely processes.
    • The MoU on labour cooperation signed in 2011 could be updated in line with India’s recent labour regulatory changes.
    • This may also be a good time to reconsider a totalisation agreement pertaining to social security, given that both have already entered into such agreements with many of the same partner countries.

    4) Defence industry ties

    • Defence industry ties can be stepped up in coordination with industry.
    • A defence dialogue including the private sectors of both sides could help in co-production and co-development in the defence and aerospace sectors.

    5) Stepping up engagement of SMEs

    • Five, engagement of small and medium enterprises (SMEs) can be stepped up.
    • Smaller U.S. companies can find significant new opportunities for investments in India and sourcing from India.
    • A U.S.-India SME CEOs Forum can be set up to catalyse such partnerships.

    6) Clean energy and climate change

    • The U.S.-India Strategic Energy Partnership should be geared towards joint investments in industrial decarbonisation, carbon dioxide removal and green hydrogen.
    • The programmes of Partnership to Advance Clean Energy Research, Partnership to Advance Clean Energy Deployment and Promoting Energy Access through Clean Energy must be relaunched.

    7) Digital economy partnership

    • India has proved its ability in this space with new opportunities opening up in robotics, space, AI and electric vehicles.
    • It is also important to disseminate information on India’s IPR regime improvements and work towards taking India off the U.S. Trade Representative IPR priority watchlist.

    8) Other areas

    • Other opportunities in the bilateral economic relationship include education, innovation and R&D, and agricultural trade and technology.

    Conclusion

    A closer economic partnership would bring gains to both sides in terms of GDP, employment, and productivity, given the complementary natures of their economies.

  • Responsible and ethical AI

    The article highlights the challenges and opportunities offered by the Artificial Intelligence and suggests the ways to deal with them.

    AI as a part of our life

    • AI is embedded in the recommendations we get on our favourite streaming or shopping site; in GPS mapping technology; in the predictive text that completes our sentences when we try to send an email or complete a web search.
    • And the more we use AI, the more data we generate, the smarter it gets.
    • In just the last decade, AI has evolved with unprecedented velocity.

    How AI could help us

    • AI has helped increase crop yields, raised business productivity, improved access to credit and made cancer detection faster and more precise.
    • It could contribute more than $15 trillion to the world economy by 2030, adding 14% to global GDP.
    • Google has identified over 2,600 use cases of “AI for good” worldwide.
    • A study published in Nature reviewing the impact of AI on the Sustainable Development Goals (SDGs) finds that AI may act as an enabler on 134 of all SDG targets.

    Concerns with AI

    • Yet, the study in Nature also finds that AI can actively hinder 59 — or 35% — of SDG targets.
    • AI requires massive computational capacity, which means more power-hungry data centres — and a big carbon footprint.
    • AI could compound digital exclusion.
    • Many desk jobs will be edged out by AI, such as accountants, financial traders and middle managers.
    • Without clear policies on reskilling workers, the promise of new opportunities will in fact create serious new inequalities.
    • Investment is likely to shift to countries where AI-related work is already established widening gaps among and within countries.
    • AI also presents serious data privacy concerns. 
    • We shape the algorithms and it is our data AI operate on.
    • In 2016, it took less than a day for Microsoft’s Twitter chatbot, “Tay”, to start spewing egregious racist content, based on the material it encountered.

    Way forward

    • Without ethical guard rails, AI will widen social and economic schisms, amplifying any innate biases.
    • Only a “whole of society” approach to AI governance will enable us to develop broad-based ethical principles, cultures and codes of conduct.
    • Given the global reach of AI, such a “whole of society” approach must rest on a “whole of world” approach.
    • The UN Secretary-General’s Roadmap on Digital Cooperation is a good starting point.
    • This approach lays out the need for multi-stakeholder efforts on global cooperation.
    • UNESCO has developed a global, comprehensive standard-setting draft Recommendation on the Ethics of Artificial Intelligence to Member States for deliberation and adoption.
    • Many countries, including India, are cognisant of the opportunities and the risks, and are striving to strike the right balance between AI promotion and AI governance.
    • NITI Aayog’s Responsible AI for All strategy, the culmination of a year-long consultative process, is a case in point.

    Consider the question “What are the ways in which Artificial Intelligence in helping humanity? What are the concerns with the promotion and the governance of AI?”

    Conclusion

    Chellenging part starts where principles meet reality that the ethical issues and conundrums arise in practice, and for which we must be prepared for deep, difficult, multi-stakeholder ethical reflection, analyses and resolve. Only then will AI provide humanity its full promise.

  • UK turns to Indo-Pacific  

    Britain wants to expand its influence among countries in the Indo-Pacific region to try to moderate China’s global dominance.

    Seems like QUAD is getting attention from other democratic nations for the big-brother role!

    What is the news?

    • A document laying out post-Brexit has highlighted foreign defence policy priorities of the UK.

    Britain’s post BREXIT plan

    • This document is Britain’s biggest foreign and defence policy review since the end of the Cold War.
    • It sets out a planned increase to Britain’s nuclear arsenal to weigh against evolving global security threats and underlines the importance of strong ties with the US while naming Russia as the top regional threat.
    • It sets out how PM Boris Johnson wants to be at the forefront of a reinvigorated, rules-based international order based on cooperation and free trade.

    Focus on Indo-pacific

    • China and the U.K. both benefit from bilateral trade and investment, but China also presents the biggest state-based threat to the U.K.’s economic security, the report said.
    • Calling the Indo-Pacific increasingly the geopolitical centre of the world, the government highlighted a planned British aircraft carrier deployment to the region.
    • Britain, the world’s sixth-largest economy, is dwarfed economically and militarily by China.
    • The UK believes, through soft power and strategic alliances, it can help persuade Beijing to play by the rules of a new, more dynamic international system.

    Content over Hong Kong

    • The Sino-British ties have tensed since over issues including Beijing’s security crackdown on former British colony Hong Kong.

    UK needs India for this juncture

    • UK PM Boris Johnson has called ”India is an increasingly indispensable partner for the United Kingdom.”
    • India’s skilled labour, technological assistance and the vibrant market will open a lot of avenues for Britain which has recently parted ways with the European Union.
    • India is not the world’s largest telecom market; it is also the fastest-growing.
    • According to a study on India’s telecom sector, an increase in telecom subscriptions often touches 20 million a month.
    • India also offers the cheapest data compared at current market exchange rates. As per cable.co.uk, the price per GB data in India to be $0.09.
    • Along with the world, India is now steering towards 5G. The UK will need India’s help to marginalize China in the telecom market.

    What else?

    • The report categorised India as “an international actor of growing importance”
    • Earlier the British government has approached Washington about a “D10” club of democratic partners, based on G7 plus Australia, South Korea and India.

  • Rajya Sabha passes MTP Bill, 2020

    The Rajya Sabha has passed the Medical Termination of Pregnancy (Amendment) Bill, 2020 that increases the time period within which an abortion may be carried out.

    What are the differing opinions with regards to the Termination of Pregnancy (MTP) Amendment Bill, 2020? Discuss.

    MTP Bill, 2020

    The MTP Bill was passed in Lok Sabha in March 2020. Its salient features included:

    • Proposing requirement for the opinion of one provider for termination of pregnancy, up to 20 weeks of gestation and introducing the requirement of the opinion of two providers for termination of pregnancy of 20-24 weeks of gestation.
    • Enhancing the upper gestation limit from 20 to 24 weeks for special categories of women which will be defined in the amendments to the MTP Rules and would include ‘vulnerable women including survivors of rape, victims of incest and other vulnerable women (like differently-abled women, Minors) etc.
    • Upper gestation limit not to apply in cases of substantial foetal abnormalities diagnosed by Medical Board. The composition, functions and other details of the Medical Board to be prescribed subsequently in Rules under the Act.
    • Anonymity of the person: The name and other particulars of a woman whose pregnancy has been terminated shall not be revealed except to a person authorised in any law for the time being in force.

    Benefits sought with the bill

    • It is seen as a step towards the safety and well-being of the women and many women will be benefitted from this.
    • Recently several petitions were received by the Courts seeking permission for aborting pregnancies at a gestational age beyond the present permissible limit on grounds of foetal abnormalities or pregnancies due to sexual violence faced by women.
    • The proposed increase in gestational age will ensure dignity, autonomy, confidentiality and justice for women who need to terminate the pregnancy.

    Flaws in the bill

    • The Bill allows abortion after 24 weeks only in cases where a Medical Board diagnoses substantial foetal abnormalities.
    • This implies that for a case requiring abortion due to rape, that exceeds 24-weeks, the only recourse remains through a Writ Petition.
    • The Bill does not specify the categories of women who may terminate pregnancies between 20-24 weeks and leaves it to be prescribed through Rules.
    • The Act (and the Bill) requires an abortion to be performed only by doctors with a specialization in gynaecology or obstetrics.
    • As there is a 75% shortage of such doctors in community health centres in rural areas, pregnant women may continue to find it difficult to access facilities for safe abortions.

    Key Issues and Analysis

    • There are differing opinions with regard to allowing abortions. One opinion is that terminating a pregnancy is the choice of the pregnant woman and a part of her reproductive rights.
    • The other is that the state has an obligation to protect life, and hence should provide for the protection of the foetus.
    • Across the world, countries set varying conditions and time limits for allowing abortions, based on foetal health, and risk to the pregnant woman.
    • Several Writ Petitions have been filed by women seeking permission to abort pregnancies beyond 20-weeks due to foetal abnormalities or rape.

  • Anti-defection law: when a nominated MP loses RS membership

    A nominated MP had to resign from Rajya Sabha before the completion of his term due to the Anti-defection law.

    The story of Nominated Members

    • During the making of the Constitution, members of the Constituent Assembly felt that Rajya Sabha should have members who might not win elections but will bring knowledge and expertise to discussions.
    • It led to Rajya Sabha having 12 nominated members from different walks of life.
    • The broad criterion for their nomination is that they should have distinguished themselves in fields like literature, science, art, and social service.
    • The President nominates such individuals as recommended by the Centre.
    • Nominated members have the same rights and privileges as elected members, with one notable difference — they cannot vote in the election of the President.

    Anti-defection law

    • In 1985 the Tenth Schedule, popularly known as the anti-defection law, was added to the Constitution.
    • But its enactment was catalyzed by the political instability after the general elections of 1967.
    • This was the time when multiple state governments were toppled after MLAs changed their political loyalties.
    • The purpose of the 1985 Constitution Amendment was to bring stability to governments by deterring MPs and MLAs from changing their political parties on whose ticket they were elected.
    • The penalty for shifting political loyalties is the loss of parliamentary membership and a bar on becoming a minister.

    Try this PYQ:

    Consider the following statements:

    1. The Chairman and the Deputy Chairman of the Rajya Sabha are not the members of that House.
    2. While the nominated members of the two Houses of the Parliament have no voting right in the presidential election, they have the right to vote in the election of the Vice President.

    Which of the statements given above is/are correct?

    (a) 1 only

    (b) 2 only

    (c) Both 1 and 2

    (d) Neither 1 nor 2

    What invites defection?

    The law covers three types of scenarios with respect to MP switching parties.

    1. The first is when a member elected on the ticket of a political party “voluntarily gives up” membership of such a party or votes in the House contrary to the wishes of the party.
    2. The second possibility is when an MP who has won his or her seat as an independent candidate after the election joins a political party. In both these instances, the MP lose the seat in the House on changing (or joining) a party.
    3. The third scenario relates to nominated MPs. In their case, the law specifies that within six months of being nominated to the House, they can choose to join a political party.

    Why is a nominated member given 6month time?

    • The time is given so that if a nominated MP is not a member of a political party, they can decide to join one if they want.
    • But if they don’t join a political party during the first six months of their tenure, and join a party thereafter, then they lose their seat in Parliament.

  • 17th March 2021 | Prelims Daily with Previous Year Questions

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  • World Air Quality Report, 2020

    Delhi remained the most polluted capital city in the world but India, on the whole, had improved its average annual PM 2.5 (particulate matter) levels higher in 2020 than in 2019, according to a report from World Air Quality Report Air.

    Try this question from CS Mains 2015:

    Q.Mumbai, Delhi and Kolkata are the three megacities of the country but air pollution is a much more serious problem in Delhi as compared to the other two. Why is this so?

    World Air Quality Report

    • It is released by a Swiss air quality technology company IQAir.
    • IQAir is an air quality technology company that since 1963 seeks to empower individuals, organizations and communities to breathe cleaner air through information, collaboration and technology solutions.
    • The 2020 Report is based on PM2.5 data from 106 countries that have been measured by ground-based monitoring stations.

    Highlights of the report

    • Of the 14 most polluted cities, 13 were in India.
    • When ranked by cities, Hotan in China was the most polluted, with an average concentration of 110.2 µg/m³, followed by Ghaziabad in Uttar Pradesh at 106.
    • Delhi’s concentration level, based primarily on data from the Central Pollution Control Board, was 84.1 µg/m³ in 2020, a 15% improvement from the 98.6 µg/m³ recorded in 2019 — a consequence of the lockdown.
    • Bangladesh and Pakistan were the countries in 2020 with worse average PM 2.5 levels than India, says the report.
    • China ranked 11th in the latest report, a deterioration from the 14th in the previous edition of the report. In the 2020 report, 106 countries were evaluated.

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