National Current Affairs – UPSC/IAS Exams- 24th January 2020

Global Corruption Perception Index

Topic: Reports and Indices

In News: Transparency International released corruption perception Index.

More on the Topic:

• India’s ranking in the Corruption Perceptions Index (CPI-2019) has slipped from 78 to 80 compared to the previous year. India scored 41 out of 100.
• In the Asia Pacific region, the average score is 45, after many consecutive years of an average score of 44, which “illustrates general stagnation” across the region. China has improved its position from 87 to 80 with a score of 41 out of 100.
• Despite the presence of high performers like New Zealand (87), Singapore (85), Australia (77), Hong Kong (76) and Japan (73), the Asia Pacific region hasn’t witnessed substantial progress in anti-corruption efforts or results. In addition, low performers like Afghanistan (16), North Korea (17) and Cambodia (20) continue to highlight serious challenges in the region.
• While often seen as an engine of the global economy, in terms of political integrity and governance, the region performs only marginally better than the global average.
• The top ranked countries are New Zealand and Denmark, with scores of 87 each, followed by Finland (86), Singapore (85), Sweden (85) and Switzerland (85). The countries ranked at the bottom of the list are Somalia, South Sudan and Syria with scores of 9, 12 and 13.
• In the last eight years, only 22 countries significantly improved their CPI scores, including Greece, Guyana and Estonia. In the same period, among the 21 countries that saw a significantly fall in their scores are Canada, Australia and Nicaragua. In the remaining 137 countries, the levels of corruption show little to no change.

Analysis:

• In democracies like India and Australia, unfair and opaque political financing, undue influence in decision-making and lobbying by powerful corporate interest groups, has resulted in stagnation or decline in the control of corruption.
• The latest CPI report has revealed that a majority of countries are showing little to no improvement in tackling corruption.

Model Mains Question: Corruption is destruction and it cannot control unless citizen of country become an active partner to control it. Discuss

Source: Hindu

Rising carbon dioxide levels may double floods

Topic: Environment and Ecology

In News: The report, Impacts of Carbon Dioxide Emissions on Global Intense Hydro-meteorological Disasters warned that the risk of extreme floods or storms could double every 13 years at the rate carbon-dioxide concentrations are building up in the atmosphere.  This could spell a “catastrophe” for India.

More on the Topic:

• The number of intense “hydro-meteorological” disasters could increase by 5.4% annually for an “average” country facing annually nearly one “extreme disaster” (defined as one that causes 100 or more fatalities and/or affects 1,000 or more people).
• India faces 5-10 times as many extreme events as the average country. One more extreme event in India [such as the Kerala floods of 2018 that killed at least 400] would strain the ability of the country to cope.

·  The scientists used a modelling which, complements the traditional approach of climate modelling to explore the factors that have contributed to the increase in the frequency of flood and storm events. ·  Econometric modelling involves accounting for a country’s vulnerability to hazards and its GDP, population density and changes in mean rainfall.

Source: Hindu

Technology to curb market manipulations

Topic: Economy

In News: SEBI is acquiring capabilities to monitor and analyse social media posts to keep a tab on possible market manipulations.

More on the Topic:

• The capabilities will involve use of artificial intelligence, machine learning, big data analytics and natural language processing tools to spot market manipulation.
• The new plan involves creating a “data lake” project to augment analytical capabilities.
• Application of AI (Artificial Intelligence) and ML (Machine Learning) tools has the potential to bring a paradigm shift in the securities market landscape, blockchain can be used in clearing and settlement activities.
• AI/ML tools are being increasingly deployed in fund management, trading, supervision and surveillance functions in the capital markets.
• There is a need for the technologists to invest time in research in these tools for applications in the capital markets.

Market manipulation: ·  Market manipulation is a type of market abuse where there is a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a product, security, commodity or currency. ·  Systemic risks are becoming important objectives for financial regulators, this requires identification and monitoring of important financial institutions, leverage, inter-connectedness, risk concentrations and market sentiment.

 Source: Hindu

Scheme for FPI investments in debt

Topic: Economy

In News: The Reserve Bank of India (RBI) has decided to reopen allotment of the investment limit under the revised Voluntary Retention Route (VRR) for debt investments by foreign portfolio investors (FPIs).

More on the Topic:

• The investment limit under VRR has been increased to ₹1,50,000 crore from the ₹75,000 crore of the earlier scheme, with a minimum retention period of three years.
• VRR was introduced by RBI in March 2019.
• Investments through VRR are free of the macro-prudential and other regulatory prescriptions applicable to FPI investments in debt markets, provided FPIs voluntarily commit to retain a required minimum percentage of their investments in India for a particular period.
• ₹54,300 crore had already been invested under the previous scheme.

Foreign Portfolio Investment: · Foreign portfolio investment (FPI) consists of securities and other financial assets held by investors in another country. · It does not provide the investor with direct ownership of a company’s assets and is relatively liquid depending on the volatility of the market. ·  Along with foreign direct investment (FDI), FPI is one of the common ways for investors to participate in an overseas economy, especially retail investors. · Unlike FDI, FPI consists of passive ownership; investors have no control over ventures or direct ownership of property or a stake in a company.

Sagarmatha Dialogue

Topic: International Affairs

In News: Nepal has invited the Prime Ministers of India and Pakistan along with several other heads of government and heads of state for the Sagarmatha Sambaad.

More on the Topic:

• The event is scheduled to focus on the threat of climate change to the modern world.
• Invitations have been sent to over 150 foreign guests including heads of government and heads of state, Ministers, business leaders, media, members of multilateral organisations, think-tank experts, academics, civil society leaders and activists.
• Given the large number of global leaders, the event is expected to serve as a venue for bilateral interaction among leaders from various countries.
• The Kathmandu event aims to draw all the SAARC leaders and provide an opportunity to break the ice between India and Pakistan (India and Pakistan have been caught up in a cycle of hostility, which had prevented Islamabad from hosting the SAARC Summit in 2016).

Source: Hindu

ICJ ruling on Rohingyas

Topic: International affairs

In News: The International Court of Justice (ICJ) ruled that Myanmar must take effective measures to protect its Rohingya Muslims, including protecting evidence relating to allegations of genocide.

More on the Topic

• Last year, the Republic of the Gambia moved the ICJ against Myanmar over alleged violations of the Convention on the Prevention and Punishment of the Crime of Genocide.
• The Gambia urged the ICJ to direct Myanmar to stop the genocide, ensure that persons committing genocide are punished, and allow the “safe and dignified return of forcibly displaced Rohingya”.
• The Gambia and Myanmar are parties to the Genocide Convention that allows a party to move the ICJ for violations.
• Disputes between the Contracting Parties are settled according to Article 9 of the Genocide Convention.

Myanmar’s Response

• Myanmar alleged that the proceedings before the court were instituted by the Gambia, not on its own behalf, but rather as a “proxy” and “on behalf of” the Organisation of Islamic Cooperation (OIC).
• Myanmar asked the ICJ to remove the case from its list, citing lack of jurisdiction of the court.
• Gambia is a member of the OIC, which includes 53 Muslim-majority nations.
• Myanmar cited the Gambia’s reliance on OIC documents to allege genocide and said the Gambia did not point to specific violations of the Genocide Convention.
• The court refused to accept Myanmar’s argument and said the fact that the Gambia “may have sought and obtained the support of other States or international organizations in its endeavour” does not take away from its right to bring a case against Myanmar.

Effects of non-compliance for Myanmar

• For its part, Myanmar has denied that its military or paramilitary has participated in genocide of Rohingya and it is unlikely to alter its position.
• Provisional measures are essentially a restraining order against a state when a case is pending and can be seen as, at most, a censure.
• Provisional orders cannot be challenged and are binding upon the state.
• However, limitations in enforcing decisions of the ICJ are widely acknowledged by law experts.
• As per Article 94 of the Charter of the United Nations, all member states are required to comply with decisions of the ICJ.
• However, any action by a state can be secured only through consent of the state in international law.
• When a state fails to comply, the Security Council has the power to impose sanctions against it and ensure compliance when international security and peace are at stake.
• So far, the Security Council has never taken a coercive measure against any country to get an ICJ ruling implemented.
• Even with the stepping in of the Security Council, there are several hurdles in enforcement of ICJ decisions.
• Any one of the five permanent members of the Security Council with veto powers can block the enforcement of an ICJ decision against itself or its ally.

Source: Hindu

National Data and Analytics Platform (NDAP)

Topic: Polity and Governance

In News: NITI Aayog has published vision plan for the National Data and Analytics Platform (NDAP).

More on the Topic:

• The platform aims to democratize access to publicly available government data.
• The NDAP proposes a simple, interactive, visual, and robust platform that will host various Central and state government datasets.
• It will host the latest datasets from various government websites, present them coherently, and provide tools for analytics and visualization.
• NDAP will cater to a wide audience of policymakers, researchers, innovators, data scientists, journalists and citizens.
• An inter-ministerial committee will oversee the progress of the development of platform, which will take place over a period of one year.
• The first version of the platform is expected to be launched in 2021.
• The process will follow a user-centric approach, and will incorporate feedback received from various users and stakeholders throughout the course of its development.

Source: Hindu