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Prime Minister Narendra Modi flagged off India’s first indigenously built hydrogen fuel cell ferry boat in virtual mode.
The vessel has been built at the Cochin Shipyard. The pilot vessel is a 24-metre catamaran which can carry 50 passengers. It also has a fully air conditioned space for passengers.
It will make urban mobility smooth and easy, according to a release issued by the Cochin Shipyard Limited (CSL).
The launch of the vessel was part of a major programme organised in Thoothukudi in Tamil Nadu to mark the laying of the foundation stone for a ₹17,300-crore project in the district.
The vessel built at the CSL underscores the pioneering step for embracing clean energy solutions and aligning with the nation’s net-zero commitments.
The hydrogen fuel vessel has fully home-grown technology and it can be replicated in other parts of the country for urban mobility application, according to the CSL.
Editorial
Vignettes of a Janus-faced economy (Page no. 6)
(GS Paper 3, Economy)
Riddled with contradictions, the Indian economy neither offers conclusive evidence of a stellar performance nor of a collapse. Evaluating economic performance could provide challenges for both the government and the Opposition.
As the country braces for the next general election, claims and counter-claims on the performance of the economy have been a prominent theme for discussions.
The government, to establish the superiority of economic management in the last decade, often highlights three aspects of performance.
First, the size and growth of gross domestic product (GDP), which is projected to become the third largest in the near future and has registered high growth rates in comparison with other emerging economies (at least in the past few quarters).
Second, the number of people who have moved out of poverty, which it claims is the highest in recent times — attributed to the prudent implementation of inclusive policies.
Third, the soaring stock market indices, which it claims is opening up avenues for entrepreneurship and wealth creation.
The numbers regarding the second claim are dubious with little scope for independent analysis. It is one that has produced multiple narratives, often contradicting the tall claims of growth and wealth creation.
Opinion
India’s fight against rare diseases (Page no. 7)
(GS Paper 2, Health)
The tragic death of 19-year-old child actress Suhani Bhatnagar from dermatomyositis, a rare disorder that causes inflammation in muscles, came in the same month as Rare Disease Day, which is marked today.
The last day of February every year is consecrated to support crores of individuals who, because of their rare medical conditions, have long been neglected and stigmatised.
According to the World Health Organization, rare diseases afflict 1 or less per 1,000 population. Barely 5% of the over 7,000 known diseases worldwide are treatable.
Most patients typically receive only basic treatment that alleviates symptoms. Some require exorbitantly priced antidotes and supportive medication throughout their lives, which they can’t afford.
Text & Context
On irregularities in vertical devolution (Page no. 8)
(GS Paper 3, Economy)
The recent agitations by the governments of Kerala and Karnataka, and the support extended by several State governments, have highlighted many disquieting issues in the practice of fiscal federalism in India.
These agitations show that the newly constituted 16th Finance Commission (FC) would have to proceed seriously and innovatively to justly address complaints of increasing vertical and horizontal inequalities in devolution.
Within the domain of vertical devolution — that is the sharing of resources between the Union and States — there are two disturbing trends that need urgent redressal.
First, the Union government has sought to keep an increasing share of its proceeds out of the divisible pool so that they need not be shared with States.
Secondly, it has also not been devolving the shares of net proceeds to the States as mandated by successive FCs.
News
Nepal-India official dialogue silent on landmark Pancheshwar project (Page no. 10)
(GS Paper 2, International Relation)
More than a month after India and Nepal signed the agreement on long-term power sharing, the two sides have not managed to make any forward movement on the stalled negotiations over the landmark Pancheshwar Multipurpose Project (PMP).
Foreign Secretary Vinay Mohan Kwatra met his Nepali counterpart Sewa Lamsal here. A press note issued on this meeting mentioned the two sides discussed “multifaceted cooperation”, but it did not include any reference to the PMP, which is by far the biggest bilateral power project conceived between the two sides.
Ms. Lamsal’s visit to Delhi took place just days after Nepal’s Foreign Minister N.P. Saud visited New Delhi to take part in the annual Raisina Dialogue.
Subsequently, Mr. Saud also visited the Ram Temple in Ayodhya. Ms. Lamsal, who met External Affairs Minister S. Jaishankar, is scheduled to participate in the 8th Asia Economic Dialogue 2024 being organised by the External Affairs Ministry and the Pune International Centre.
During the meeting, the two Foreign Secretaries held discussions on the entire range of multifaceted cooperation between India and Nepal and also followed up on the 7th India-Nepal Joint Commission Meeting which was co-chaired by the External Affairs Minister Dr. S. Jaishankar and the Foreign Minister of Nepal H.E. N.P. Saud in Kathmandu last month.
Mizoram Assembly adopts resolution against border fence (Page no. 10)
(GS Paper 2, International Relation)
The 60-member Mizoram Assembly adopted a resolution against the Centre’s decision to fence the India-Myanmar border and scrap the Free Movement Regime (FMR) agreement with the civil war-torn neighbouring country.
The FMR allows residents along the 1,643-km border between the two countries to travel up to 16 km in each others’ territory without any visa and stay for a limited period.
In the resolution moved by Mizoram Home Minister K. Sapdanga, the Centre was urged to reconsider its decision and take steps instead to ensure the Zo ethnic people can live together without a fence dividing their ancestral land.
The dominant Mizos of Mizoram, the Kuki-Zomis of Manipur, the Chins of Myanmar and the Kuki-Chins of Bangladesh belong to the Zo ethnic group.
The British geographically divided the Zo ethnic people who have inhabited [present-day] Mizoram and the Chin Hills of Myanmar for centuries together, once under their own administration. We have been dreaming of reunification and cannot accept the India-Myanmar border imposed upon us.
World
Gaza death count nears 30,000 as UN warns of an ‘imminent’ famine (Page no. 13)
(GS Paper 2, International Relation)
Fighting raged in the besieged Gaza Strip, where the reported death toll neared 30,000 as mediators insisted a truce in the Israel-Hamas war could be just days away.
The Hamas-ruled territory’s Health Ministry reported another 91 deaths in overnight Israeli bombardment in Gaza, while UN agencies sounded the alarm on dire humanitarian conditions and food shortages.
Mediators from Egypt, Qatar and the U.S. have been trying to find a path to a ceasefire amid the bitter fighting, seeking a six-week pause in the nearly five-month war.
After a flurry of diplomacy, mediators said a deal could finally be within reach — reportedly including the release of some Israeli hostages held in Gaza since Hamas’s October 7 attack in exchange for several hundred Palestinian detainees held by Israel.
Business
‘I-T’s faceless assessment has given great relief to tax payer’ (Page no. 14)
(GS Paper 3, Economy)
The I-T Department’s faceless tax assessment system, aimed at improving ease of doing business, had reduced discretion of officers, made grievance redressal quicker and overall improved taxpayers’ perception about the department.
With this system, the taxpayers have found great relief and the redressal of grievances has gotten faster. The faceless assessment platform was also brought in so that the discretion of an officer does not impact taxpayers.
Despite some teething troubles initially, the system today is well settled and working now. Observing that the Central Processing Centre of the faceless tax assessment platform for the entire country was located in Bengaluru, Ms. Sitharaman said the tax payers of Bengaluru, both individual and corporates, had contributed significantly to revenue buoyancy.
Number of ultra-rich in India increased 6% in 2023 to 13,263 (Page no. 14)
(GS Paper 3, Economy)
The number of Ultra-high Net Worth Individuals (UHNWIs) in India increased 6% annually to 13,263 last year on rising prosperity and the number of affluents would grow further to reach nearly 20,000 by 2028, according to Knight Frank.
UHNWIs are defined as individuals having a net worth of $30 million and more. Real estate consultant Knight Frank India released ‘The Wealth Report 2024’ saying the number of UHNWIs in India grew from 12,495 individuals in 2022 to 13,263 in 2023. The number of UHNWIs in India is expected to expand to 19,908 by 2028 from 13,263 in 2023.
Knight Frank India MD Shishir Baijal said “In a transformative era of wealth creation, India stands as a testament to thriving prosperity in the global economic spectrum.
A remarkable surge in its UHNWI population, catapulting by 50.1% within the next five years is an indication of this phenomenon.” 90% Indian UHNWIs are expecting to witness an increase in their wealth during 2024.
Science
Early bloom of the jacaranda sparks furious climate debate in Mexico (Page no. 20)
(GS Paper 3, Science and Technology)
Every spring, the streets of Mexico’s capital are painted purple with the flowering of thousands of jacaranda trees. Their spectacular colours not only attract the eyes of residents and tourists but also birds, bees and butterflies that find food and shelter in them.
Some jacarandas began blooming in early January when they normally awaken in spring. The early onset bloom has set off alarm bells among residents and scientists in Mexico City, where the trees have become an iconic, photogenic mainstay of city streets.
Local scientists have begun investigating how widespread the early-bloom phenomenon is, but they point to climate change as the first culprit.
They are starting to flower in January, February, which is winter, when it is not yet their time, a researcher at the Institute of Atmospheric Sciences and Climate Change Research at the National Autonomous University of Mexico.