Daily Current Affairs for UPSC CSE
Topics Covered
- Currency Swap & Line of Credit
- Deep Ocean Mission
- Coral Bleaching
- World Happiness table
- Jurisdiction of International Court of Justice
- Border Area Development Programme
- Facts for Prelims
1 . Currency Swap & Line of Credit
Context : India extended a $1 billion credit facility to Sri Lanka to assist the island nation through its worst foreign exchange crisis and enable it to procure food, medicines and essential items.
About the News
- An agreement to this effect was signed between the State Bank of India and the government of Sri Lanka during a visit of the country’s Finance Minister Basil Rajapaksa to New Delhi.
- US$ 1 billion credit line signed for supply of essential commodities. Key element of the package of support extended by India,” Mr. Jaishankar tweeted.
- In 2022, so far India has extended $1.4 billion support to Sri Lanka, through a $400-million RBI currency swap, deferral of a $0.5 billion loan and another half a billion as a line of credit for the country to sustain its essential fuel imports.
About Line of Credit
- Government of India Supported Lines of Credit (LOCs) to countries of Asia (Excluding Bangladesh, Nepal, Bhutan) Africa, CIS region and Latin American region which are being extended under the Indian Development and Economic Assistance Scheme (IDEAS).
- Indian Development Assistance Scheme (IDEAS) provides concessional financing for projects and contributes to infrastructure development and capacity building in the recipient developing countries.
- Development assistance in the form of concessional Lines of Credit (LOCs) is extended by the Government of India under the Indian Development and Economic Assistance Scheme (IDEAS) through the Exim Bank of India
About Currency Swap
- In the swap arrangement, a country provides dollars to a foreign central bank, which, at the same time, provides the equivalent funds in its currency to the former, based on the market exchange rate at the time of the transaction.
- The parties agree to swap back these quantities of their two currencies at a specified date in the future, which could be the next day or even two years later, using the same exchange rate as in the first transaction. In Sri Lanka’s case, it’s more than two years.
- The RBI also offers similar swap lines to central banks in the SAARC region within a total corpus of $2 billion. Under the framework for 2019-22, the RBI will continue to offer a swap arrangement within the overall corpus of $2 billion. Other countries can withdraw funds in the US dollar, the euro, or the Indian rupee. This facility originally came into operation on November 15, 2012 to provide a backstop line of funding for short-term foreign exchange liquidity requirements or balance of payment crises until longer term arrangements were made.
- India already has a $75 billion bilateral currency swap line with Japan, which has the second highest dollar reserves after China.
Benefits
- These swap operations carry no exchange rate or other market risks, as transaction terms are set in advance. The absence of an exchange rate risk is the major benefit of such a facility.
- This facility provides the country, which is getting the dollars, with the flexibility to use these reserves at any time in order to maintain an appropriate level of balance of payments or short-term liquidity.
2 . Deep Ocean Mission
Context : India has plans to introduce eight deep ocean gliders that can travel 3,000 km-4,500 km, 48 deep Argo floats at 6,000-metre depth at 24 locations and another 150 wave drifters to strengthen the capacity of observations in the Indian Ocean as part of its ‘Deep Ocean Mission’, informed Ministry of Earth Sciences secretary M. Ravichandran.
About Deep Ocean Mission
- Deep Ocean Mission envisages exploration of minerals, energy and marine diversity of the underwater world, a vast part of which still remains unexplored
- The mission, which is expected to cost over ₹4,000 crore, will give a boost to efforts to explore India’s vast Exclusive Economic Zone and Continental Shelf
- Mission will also involve developing technologies for different deep ocean initiatives.
- The multi-disciplinary work will be piloted by the MoES and other government departments like the Defence Research and Development Organisation, Department of Biotechnology, Indian Space Research Organisation (ISRO), Council for Scientific and Industrial Research (CSIR) will be stakeholders in this mission
- Deep Ocean Mission with be a mission mode project to support the Blue Economy Initiatives of the Government of India. Ministry of Earth Sciences (MoES) will be the nodal Ministry implementing this multi-institutional ambitious mission.
- Some of the technologies involved will be developed by organisations such as the ISRO and DRDO.
- One of the main aspects of the mission will be design, development and demonstration of human submersibles
- Another aspect is exploring the possibility of deep sea mining and developing necessary technologies, the official added.
Components
The Deep Ocean Mission consists of the following six major components:
- Development of Technologies for Deep Sea Mining, and Manned Submersible: A manned submersible will be developed to carry three people to a depth of 6000 metres in the ocean with suite of scientific sensors and tools. Only a very few countries have acquired this capability. An Integrated Mining System will be also developed for mining Polymetallic Nodules from 6000 m depth in the central Indian Ocean. The exploration studies of minerals will pave way for the commercial exploitation in the near future, as and when commercial exploitation code is evolved by the International Seabed Authority, an UN organization. This component will help the Blue Economy priority area of exploring and harnessing of deep sea minerals and energy.
- Development of Ocean Climate Change Advisory Services: A suite of observations and models will be developed to understand and provide future projections of important climate variables on seasonal to decadal time scales under this proof of concept component. This component will support the Blue Economy priority area of coastal tourism.
- Technological innovations for exploration and conservation of deep-sea biodiversity: Bio-prospecting of deep sea flora and fauna including microbes and studies on sustainable utilization of deep sea bio-resources will be the main focus. This component will support the Blue Economy priority area of Marine Fisheries and allied services.
- Deep Ocean Survey and Exploration: The primary objective of this component is to explore and identify potential sites of multi-metal Hydrothermal Sulphides mineralization along the Indian Ocean mid-oceanic ridges. This component will additionally support the Blue Economy priority area of deep sea exploration of ocean resources.
- Energy and freshwater from the Ocean: Studies and detailed engineering design for offshore Ocean Thermal Energy Conversion (OTEC) powered desalination plant are envisaged in this proof of concept proposal. This component will support the Blue Economy priority area of off-shore energy development.
- Advanced Marine Station for Ocean Biology. This component is aimed as development of human capacity and enterprise in ocean biology and engineering. This component will translate research into industrial application and product development through on-site business incubator facilities. This component will support the Blue Economy priority area of Marine Biology, Blue trade and Blue manufacturing.
Importance
- Oceans, which cover 70 per cent of the globe, remain a key part of our life. About 95 percent of Deep Ocean remains unexplored. For India, with its three sides surrounded by the oceans and around 30 per cent of the country’s population living in coastal areas, ocean is a major economic factor supporting fisheries and aquaculture, tourism, livelihoods and blue trade.
- Oceans are also storehouse of food, energy, minerals, medicines, modulator of weather and climate and underpin life on Earth. Considering importance of the oceans on sustainability, the United Nations (UN) has declared the decade, 2021-2030 as the Decade of Ocean Science for Sustainable Development.
- India has a unique maritime position. Its 7517 km long coastline is home to nine coastal states and 1382 islands. The Government of India’s Vision of New India by 2030 enunciated in February 2019 highlighted the Blue Economy as one of the ten core dimensions of growth.
- The move strategically significant as it will enhance India’s presence in the Indian Ocean where other players like China, Korea and Germany are active.
India’s area of exploration
- India has been ear-marked nearly 1.5 lakh square kilometres of area in the central Indian Ocean for exploration by International Sea Bed Authority
- In September 2016, India signed a 15-year contract with the International Seabed Authority (ISA) for exploration of Poly-Metallic Sulphides (PMS) in the Indian Ocean.
- The 15-year contract formalised India’s exclusive rights for exploration of PMS in the allotted area in the Indian Ocean.
- The ISA earlier approved 10,000 sq. km for India with a 15-year PMS exploration plan along the Central Indian Ridge (CIR) and Southwest Indian Ridge (SWIR) region of the Indian Ocean.
3 . Coral Bleaching
Context : Australia’s Great Barrier Reef is suffering widespread and severe coral bleaching due to high ocean temperatures two years after a mass bleaching event, a government agency said on Friday. The report by the Great Barrier Reef Marine Authority, which manages the world’s largest coral reef ecosystem, comes three days before a United Nations delegation is due to assess whether the reef’s World Heritage listing should be downgraded due to the ravages of climate change.
What is coral bleaching
- The stunning colours in corals come from a marine algae called zooxanthellae, which live inside their tissues. This algae provides the corals with an easy food supply thanks to photosynthesis, which gives the corals energy, allowing them to grow and reproduce.
- When corals get stressed, from things such as heat or pollution, they react by expelling this algae, leaving a ghostly, transparent skeleton behind. This is known as ‘coral bleaching’. Some corals can feed themselves, but without the zooxanthellae most corals starve.
Can coral recover from bleaching
- In some instances corals can recover from bleaching. If conditions return to normal, and stay that way corals can regain their algae, return to their bright colours and survive. However prolonged warmer temperatures and other stressors, like poor water quality, can leave the living coral in a weakened state. It can struggle to regrow, reproduce and resist disease – so is very vulnerable to coral diseases and mortality.
- It can take decades for coral reefs to fully recover from a bleaching event, so it is vital that these events do not occur frequently. If we continue burning fossil fuels at our current rate then severe bleaching events are likely to hit reefs annually by the middle of the century. This would be devastating for coral reefs as they would have no chance to recover.
Causes
- Change in Ocean Temperature
- Runoff and Pollution
- Overexposure to sunlight
- Extreme low tides
4 . World Happiness Report
Context : Finland has been named the world’s happiest country for the fifth year running, in an annual UN-sponsored index that ranked Afghanistan as the unhappiest, closely followed by Lebanon.
About World Happiness Report
- The World Happiness Report, published by Sustainable Development Solutions Network, a United Nations non-profit, marks its 10th year in 2022. Report was declared on March 20 as March 20 is celebrated asWorld Happiness Day by the UN General Assembly in 2012.
- The report ranks countries on six key variables that support well-being: income, freedom, trust, healthy life expectancy, social support and generosity.
- The happiness study ranks the countries of the world on the basis of questions from the Gallup World Poll. The results are then correlated with other factors, including GDP and social security.
- This is the 10th anniversary of the World Happiness Report, written as the world is entering the third year of COVID-19. As a result, the Report has a triple focus, first looking back, then taking another close look at how individuals and countries are doing in the face of COVID-19, and finally looking ahead to how the science of well-being, and the societies under study, are likely to evolve in the future.
- The latest list was completed before the Russian invasion of Ukraine.
Details of the Report
- For the fifth straight year, Finland has been ranked as the happiest country in the world. It is among the five Nordic countries featuring in the top 10 ranks.
- The second happiest country is Denmark, followed by Iceland. Sweden ranks seven, while Norway is on the eighth spot.
- Canada, United States and the United Kingdom occupy that 15th, 16th and 17th spots, respectively.
- Among the bottom-five countries on the index are conflict-torn Afghanistan, Lebanon, Zimbabwe, Rwanda and Botswana.
- India ranks 136 on the 2022 World Happiness Report. It is among the 11 least happy countries.
5 . Jurisdiction of International Court of Justice
Context : Ukraine on February 26 approached the International Court of Justice (ICJ), the principal judicial organ of the United Nations (UN), requesting the ICJ among other things, to hold that no acts of genocide defined under the Genocide Convention 1948 and as claimed by Russia have been committed by Ukraine in Donetsk and Luhansk. Additionally, Ukraine also requested the court to indicate certain provisional measures, such as directing the Russian Federation to “immediately suspend military operations” in Ukraine, and to ensure that Russia will not aggravate or extend the dispute. The ICJ on March 16, rendered its order directing the Russian federation inter alia to immediately suspend all military operations in Ukraine.
Where does the ICJ’s jurisdiction lie?
- Article 36(1) of the Statute of the ICJ provides that the ICJ shall have jurisdiction in all matters relating to the UN Charter, or other treaties or conventions in force. The Genocide Convention 1948 under Article IX provides that disputes between states relating to the interpretation, application or fulfilment of the Genocide Convention, as well as those relating to the responsibility of a state for genocide shall be submitted to the ICJ at the request of any of the parties to the dispute. Russia and Ukraine are both parties to the Genocide Convention.
- The ICJ held that there exists a prima facie dispute between Ukraine and Russia over the question of whether the acts of genocide have been committed in Ukraine, and accordingly it has the jurisdiction.
What do the ICJ’s powers to indicate provisional measures entail?
- The Statute of the International Court of Justice, under Article 41 empowers the ICJ to indicate provisional measures in any case before it in order to preserve the rights of the parties involved. When the ICJ indicates such provisional measures, the parties to the dispute and the UN Security Council have to be notified.
- Until 2001, there was uncertainty as to whether the provisional measures indicated by the ICJ were binding. However, in the LaGrand (2001) case between Germany and the U.S. relating to the denial of consular access to a German national in the U.S., the ICJ made it clear that provisional measures are binding in character and create international legal obligations. Further, provisional measures may be indicated by the ICJ either on the request of a state party or proprio motu i.e., on its own motion.
- The ICJ has also held in the Tehran Hostages Case (1980) that the non-appearance of one of the parties concerned cannot itself be an obstacle to indication of provisional measures. In the present case, the Russian Federation chose not appear in the oral proceedings before the court. Notwithstanding, the ICJ proceeded to decide the case.
Under what conditions can the ICJ’s powers be exercised?
The power to indicate provisional measures is subject to certain conditions.
- In the Gambia v. Myanmar (2020) case dealing with genocide of Rohingyas in Myanmar, the ICJ held that it may exercise the power to indicate provisional measures only if it is satisfied that rights which are being asserted by the party which is requesting provisional measures is “at least plausible”. The ICJ in the present case held that Ukraine indeed has a plausible “right of not being subjected to military operations by the Russian Federation for the purpose of punishing and preventing alleged acts of genocide.” The ICJ expressed doubt regarding the use of unilateral military force against another state for preventing and punishing genocide, as a means under the Genocide Convention 1948. It highlighted that the Genocide Convention provides for other means such as resort to other UN organs under Article VIII, and for peaceful dispute settlement by ICJ under Article IX. It is important to note here that the ICJ at the stage of provisional measures does not engage in a definitive analysis of whether rights which are claimed by the applicant actually exist. That analysis is for the merits phase.
- Second, there must exist a link between the provisional measure which has been requested and the plausible right that is to be preserved by such measure.
- Third, there must be “real and imminent risk” of “irreparable prejudice” to the rights claimed before the ICJ. The court observed that the mounting loss of human lives, harm to environment, and the refugee crisis are all instances of irreparable harm and prejudice justifying the indication of provisional measures.
What lies ahead?
- The provisional measures indicated by the ICJ are binding, and non-compliance certainly entails the breach of an international legal obligation. However, the ICJ does not have the means or mechanism to secure the enforcement of the judgment itself.
- Indeed, the UN Charter under Article 94(2) provides that if any state fails to perform obligations pursuant to an ICJ decision, the UN Security Council (UNSC) may take measures necessary to give effect to the judgment. However, the possibility in the present case is bleak given that Russia has veto power in the UNSC.
- Additionally, if there is an impasse in the Security Council, the UN General Assembly (UNGA) is empowered under Article 14 of the UN Charter to recommend measures for the peaceful adjustment of any situation “which it deems likely to impair the general welfare or friendly relations among nations.” In Nicaragua v U.S. (1984) when the U.S. refused to comply with the ICJ decision, and the Security Council was deadlocked, the UNGA adopted several resolutions deploring the behaviour of the U.S.. Further, the Uniting for Peace Resolution adopted in 1950 by the UNGA in the context of the Korean War, authorises the UNGA to consider any matter which may threaten international peace and security, and to make appropriate recommendations to the members for collective measures, including the use of armed force. The power of the UNGA to ‘recommend measures for peaceful adjustment’ has been affirmed by the ICJ in several cases including the Certain Expenses Advisory Opinion (1962), and Wall Advisory Opinion (2004). Russia’s non-participation in the oral proceedings has already reflected its disrespect for international law and international institutions. If Russia does not comply with the provisional measures of the ICJ, the reputational harm to its regime will only be compounded. Moreover, non-compliance with provisional measures will legitimise and justify counter-measures against Russia. Interestingly enough, Russia has been kicked out of the Council of Europe with immediate effect on the same day as ICJ’s provisional measures were indicated.
6 . Border Area Development Programme
Context : A hybrid beast of burden could soon be factored in India’s Border Area Development Programme (BADP) that marries development with security on the frontlines.
About the News
- The mule, an offspring of a male donkey and a mare (female horse), is an essential pack animal for the armed forces to carry food and heavy weapons to remote outposts on difficult slopes in Arunachal Pradesh.
- State government was working on a mule track scheme for inclusion in the BADP. This followed an experiment entailing the distribution of 10 mules to be used as a mode of transportation in remote villages under the district’s Payum circle.
- Payum, the circle headquarters, is more than 100 km from Boleng, the district headquarters. One has to walk for four hours from the last vehicle point to reach Payum. The villages to be covered by the mules are 10-25 km from another point near Payum where goods-carrying vehicles can reach.
- “The distribution of the mules marks the start of an experimental mule service for carrying public distribution system items and other essential commodities. A committee in each village headed by the gaonburah (headman) has been entrusted with the custody and maintenance of the animal
- The district authority procured the mules and trained the locals in handling the animals that are invariably sterile but sturdier and more intelligent than either parent.
- “If the experiment succeeds, more pack animals will be provided to each village until roads reach the circle. We are also planning to have the mule track scheme incorporated in the BADP
About BADP
- The Department of Border Management, Ministry of Home Affairs has been implementing the Border Area Development Programme (BADP) through the State Governments as part of a comprehensive approach to Border Management.
- The programme aims to meet the special development needs of the people living in remote and inaccessible areas situated near the international border and to saturate the border areas with the essential infrastructure through convergence of Central/State/BADP/Local schemes and participatory approach.
- BADP was initiated in the border areas of the western region during that Seventh Five Year Plan period for ensuring balanced development of border areas through development of infrastructure and promotion of a sense of security among the border population.
- The programme now covers 394 border blocks of 111 border districts in 17 States, which includes 167 border blocks in 55 districts of 8 North East, States (including Sikkim), located along the international land border. The State covered are Arunachal Pradesh, Assam, Bihar, Gujarat, Himachal Pradesh, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttar Pradesh, Uttarakhand and West Bengal. Under this programme priority is given to the areas closer to the border.
- BADP is an important intervention of the Central Government to bring about development of border areas by supplementing the State Plan Funds to bridge the gaps in socio- economic infrastructure on one hand and improving the security environment in border areas on the other.
Importance
- The creation of infrastructure “would help integrate these areas with the hinterland, create a positive perception of care by the country and encourage people to stay on in the border areas leading to safe and secure borders
7 . Facts for Prelims
Himalayan Griffons
- The Himalayan vulture or Himalayan griffon vulture is an Old World vulture native to the Himalayas and the adjoining Tibetan Plateau. It is one of the two largest Old World vultures and true raptors. It is listed as Near Threatened on the IUCN Red List
Nalanda and Vikramshila
- Nalanda and Vikramashila were amongst the three most important Buddhist monasteries in India during the Pala Empire, along with Nalanda and Odantapuri.
- Steps are being taken to translate and publish hundreds of original Buddhist manuscripts from Nalanda and Vikramshila, a Bihar State Minister has said. The manuscripts were saved from being burnt in the 12th and 13th centuries by Bakhtiyar Khilji’s Army and later brought back to India from Tibet by traveller, freedom fighter and monk Rahul Sankrityayan.
- The manuscripts were written in Sanskrit by scholars of the two universities between the seventh and 12th centuries AD.
Great barrier reefs
- The Great Barrier Reef is a site of remarkable variety and beauty on the north-east coast of Australia. It contains the world’s largest collection of coral reefs, with 400 types of coral, 1,500 species of fish and 4,000 types of mollusc.
- It also holds great scientific interest as the habitat of species such as the dugong (‘sea cow’) and the large green turtle, which are threatened with extinction.
Green Triangle
- Green triangle named after Gandhi opened in Madagascar
- The word green in the plaque signifies their commitment to sustainable development and saving the environment.