FM Sitharaman rejects K-shaped recovery theory for India, asks doubters to explain

• The Finance Minister rejected the theory that India''s ongoing recovery is ''K-shaped''.
• A K-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times, or magnitudes.
• It leads to changes in the structure of the economy or the broader society as economic outcomes and relations are fundamentally changed before and after the recession.
• This type of recovery is called K-shaped because the paths of different parts of the economy, when charted together, may diverge, resembling the two arms of the Roman letter "K."
• The portion of the economy that recovers quickly is represented by the upper part of the K, while the lower part represents those groups that recover more slowly.

Reasons:

• K-shaped recoveries are generally caused by disparities that existed before the recession or by a recession that impacts populations and groups differently.
• It is possible due to the creative destruction of old industries due to the development of new industries and technologies during the recession.
• Government strategies like monetary and fiscal policies used to combat the recession can lead to a K-shaped recovery. Due to the nature of the economic policies, certain industries will benefit more than others.
• Due to the nature of the recession, it can exert a unique impact on different parts of the economy, especially when a recession is coupled with a negative real economic shock that results in a lasting negative impact on certain parts of the economy.
• Example: During the COVID-19 pandemic, North America saw a K-shaped recovery where the richer individuals and industries recovered faster compared to the poor.

PM Cares Fund: Delhi High Court Sets Aside CIC Order Directing IT Department To Disclose Details Of Tax Exemption Under RTI.

• The Delhi High Court recently set aside an order of the Central Information Commission (CIC) directing the Income Tax (IT) department to provide details regarding the tax exemption granted to the PM Cares Fund under the Right to Information Act, 2005.
• PM CARES Fund was created on March 28, 2020, following the COVID-19 pandemic in India.
• It was set up to have a dedicated national fund to deal with any emergency and provide relief to the distressed.

Fund Constitution:

• It has been registered as a Public Charitable Trust.
• The Prime Minister is the ex-officio Chairman of the PM CARES Fund, and the Minister of Defence, Minister of Home Affairs, and Minister of Finance of the Government of India are ex-officio Trustees of the Fund.
• The Chairperson of the Board of Trustees (Prime Minister) shall have the power to nominate three trustees to the Board of Trustees who shall be eminent persons in the fields of research, health, science, social work, law, public administration, and philanthropy.
• Any person appointed a Trustee shall act in a pro bono capacity.

Objectives:

• To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity, or distress, either man-made or natural, including the creation or upgradation of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research, or any other type of support.
• To render financial assistance, provide grants of payments of money, or take such other steps as may be deemed necessary by the Board of Trustees for the affected population.
• To undertake any other activity which is not inconsistent with the above objectives.

Fund Finance:

• The fund consists entirely of voluntary contributions from individuals/organisations and does not receive any budgetary support.
• Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act, 1961.
• Donations to the PM CARES Fund will also qualify to be counted as Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013
• PM CARES Fund has also got an exemption under the Foreign Contribution Regulation Act(FCRA), and a separate account for receiving foreign donations has been opened.
• This enables the CARES Fund to accept donations and contributions from individuals and organisations based in foreign countries.

International Court of Justice refuses to dismiss genocide case against Israel.

• The International Court of Justice (ICJ) ruled that it will not throw away the genocide case against Israel.
• The ICJ, also known as the World Court, is the principal judicial organ of the United Nations (UN).
• It was established in June 1945 by the Charter of the UN and began work in April 1946.
• The seat of the Court is at the Peace Palace in The Hague (Netherlands).
• The hearings of the ICJ are always public.
• Official Languages: French and English

Powers and Functions: The Court may entertain two types of cases:

• First, it can act as a dispute settlement body between two member States in what are called “contentious cases.” Such disputes may concern, in particular, land frontiers, maritime boundaries, territorial sovereignty, the non-use of force, violation of international humanitarian law, non-interference in the internal affairs of States and diplomatic relations.
• Second, it can accept requests to issue an advisory opinion on a legal question referred to it by a UN body or specialised agency. These opinions can clarify the ways in which such organisations may lawfully function or strengthen their authority in relation to their member States.
• The court''s judgments in contentious cases are final and binding on the parties to a case, and without appeal.
• Unlike the Court’s judgments, advisory opinions are not binding.
• The ICJ decides disputes in accordance with international law as reflected in international conventions, international custom, general principles of law recognized by civilised nations, judicial decisions, and the writings of the most highly qualified experts on international law.

Composition:

• It consists of 15 judges, all from different countries, who are elected to nine-year terms by majority votes in the UN General Assembly and the Security Council.
• The judges, one-third of whom are elected every three years.
• Once elected, a member of the Court is a delegate neither of the government of his own country nor of any other State.
• In addition, the ICJ Statute allows a state party to a case before it which does not have a judge of its nationality on the bench to appoint a person to sit as judge ad hoc in that specific case.
• The Court is assisted by a Registry, its permanent administrative secretariat, which is independent of the United Nations Secretariat.

Reconsidering the free movement regime.

• The Home Minister recently said the Free Movement Regime (FMR) agreement with Myanmar would be reconsidered to stop border residents from moving into each other’s country without any paperwork.
• Under the FMR, all the hill tribes, whether they are citizens of India or Myanmar, can travel within 16 km on either side of the Indo-Myanmar Border (IMB).
• They can cross the border by producing a border pass with a one-year validity issued by the competent authority and can stay up to two weeks per visit.
• The FMR was implemented in 2018 as part of the Central government’s Act East policy.
• FMR is implemented by both governments for the people living along the IMB.
• This helps locals get more culturally assimilated with trans-border villages through weddings, celebrating common festivals together, and trans-border trade.
• It is a reflection of the physical, ethnic, linguistic, cultural, and fraternal linkages among the trans-border villagers.

Key Facts about Indo-Myanmar Border (IMB):

• It runs for 1,643 km in the four states of Mizoram, Manipur, Nagaland, and Arunachal Pradesh.
• It runs from the tripoint with China in the north to the tripoint with Bangladesh in the south.
• Assam Rifles is tasked with guarding the IMB.

Jharkhand''s in R-Day parade showcases skill of tribal women in Tasar silk production

• Jharkhand''s tableau in the held Republic Day parade showcased the skill of tribal women in the production of Tasar silk.
• Tasar Silk is a type of wild silk, which is made from silkworms that feed on plants like Asan and Arjun.
• People from different parts of India call it tusaar, tusser, tushar, tusa, tassore, and tasar etc.

Producers:

• Globally, it is produced in China, Sri Lanka, and Bangladesh.
• India is the second-largest producer of tussar silk and the exclusive producer of Indian tussar (also known as tropical tussar), which is largely tended to by tribals.
• In India, it is primarily produced in Madhya Pradesh, Jharkhand, and Chhattisgarh. Currently, Jharkhand is one of the largest producers.

Features:

• It is famous and valued for its natural golden colour. The silk can also be found in shades of brown, cream, and orange.
• The colour is caused by the production process due to the presence of carotenoids in the silk.
• It is known for its distinctive texture, which is often described as being ''rough'' or ''crinkly.''
• This is due to the fact that the fibres of tasar silk are shorter than those of other silks, such as mulberry silk.
• As a result, tasar silk fabrics are less smooth and have a more uneven surface.
• Tasar silk fabrics have a characteristic weave that is different from other types of silk.
• The threads of tasar silk are often thicker than those of other silks, and they are woven in a way that creates a ''checkerboard'' pattern.
• It is lightweight yet surprisingly strong, with a luxuriously soft feel often compared to that of cashmere or velvet.
• It does not retain moisture, and this quality makes it a delight to wear in warmer climates of the world.
• Tasar silk is more porous, which makes it more wearable.

Arunachal''s Bugun Community Reserve, home to endangered species

• Arunachal Pradesh, at the Republic Day parade, showcased its Singchung Bugun Village Community Reserve, a 17-square-kilometre biodiversity hotspot.
• Singchung Bugun Village Community Reserve is a 17-square-kilometre biodiversity hotspot located in Arunachal Pradesh, around 40 km from the famous Eagle nest Wildlife Sanctuary.
• The reserve was created in 2017 to protect biodiversity in the region.
• It is home to critically endangered species such as the passerine bird Bugun Liocichla (Liocichlabugunorum), which is named after the Buguns community.
• It was one of the first bird species to be discovered in India since the country’s independence in 1947, and it lives only on the Buguns’ community lands.
• The Buguns are an indigenous community with a population of about 2,000 people, spread across 12 villages that are dotted outside the forests of Eagle nest Wildlife Sanctuary.

What is a Community Reserve?

• Conservation reserves and community reserves in India are terms denoting protected areas of India which typically act as buffer zones, connectors, and migration corridors between established national parks, wildlife sanctuaries and reserved and protected forests in India.
• Such areas are designated as conservation reserves if they are uninhabited and completely owned by the Government of India but used for subsistence by communities, and community reserves if part of the land is privately owned.
• These protected area categories were first introduced in the Wildlife (Protection) Amendment Act of 2002, an amendment to the Wildlife Protection Act (WLPA) of 1972.
• These categories were added because of reduced protection in and around existing or proposed protected areas due to private ownership of land, and land use.
• The provisions of the WLPA apply to an area once it has been declared a community reserve.