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DAILY CURRENT AFFAIRS ANALYSIS

16 March 2022

 No. Topic Name Prelims/Mains
1.    ABOUT THE HORTICULTURE SECTOR Prelims & Mains
2.    ABOUT THE SOCIAL STOCK EXCHANGE Prelims & Mains
3.    DETAILS OF THE ACT EAST POLICY Prelims & Mains
4.    ABOUT THE INTERNATIONAL DAY TO COMBAT ISLAMOPHOBIA Prelims Specific Topic

 

1 – ABOUT THE HORTICULTURE SECTOR: 

GS III

Topic – Indian Agriculture

  • Context:
  • In 2021, the India Greenhouse Horticulture market was worth USD 190.84 million, and by 2030, it is expected to be worth USD 271.25 million.
  • Over the forecasted period, the market is estimated to grow at a rate of 4.19 percent. India produced 27.71 million tonnes of greenhouse horticulture in 2021.
  • What is horticulture in a greenhouse:
  • Protected cropping is another name for greenhouse horticulture. It is the cultivation of horticultural crops within, under, or shielded by buildings for the purpose of modifying growth conditions and/or giving protection from pests, diseases, and inclement weather.
  • What is the definition of horticulture:
  • Horticulture is derived from the Latin words hortus, which means “garden,” and cultura, which means “cultivation,” and hence means “crops cultivated in a garden.”
  • It is the science and art of growing, using, and improving fruits, vegetables, flowers, and other plants for human consumption, non-food uses, and societal purposes.
  • H. Marigowda is known as the Father of Indian Horticulture, while L.H. Bailey is known as the Father of American Horticulture.
  • Significance:
  • India’s diverse agro-climatic conditions enable it to produce a wide range of fresh fruits, vegetables, and medicinal plants.
  • Horticulture crops play an important part in the Indian economy by creating jobs, providing raw materials to various food processing companies, and increasing farm profitability through increased production and foreign exchange profits.
  • Horticultural crops have a higher comparative productivity per unit area than field crops.
  • Analyze the data:
  • After China, India is the world’s second-largest producer of fruits and vegetables.
  • Horticultural crops account for a major share of India’s total agricultural output. They span a large area of cultivation and account for around 28% of the Gross Domestic Product (GDP).
  • These crops account for 37% of India’s total agricultural commodity exports.
  • From a total area of 25.66 million hectares, the country produced 320.77 million tonnes of horticulture in 2019-20, the highest ever.
  • Challenges:
  • Due to little or restricted input from machinery and equipment, there is a high rate of post-harvest loss and gaps in post-harvest management.
  • There aren’t enough cold storage facilities or well-connected transportation networks in the supply chain.
  • Difficulties in establishing a business due to greater input costs and a scarcity of market intelligence, particularly for exports.
  • There are no safety net protections for foodgrains, such as the Minimum Support Price (MSP).
  • In comparison to the country’s current demand, horticultural items are produced at a far lower rate.
  • MIDH (Mission for Integrated Horticulture Development):
  • Fruits, vegetables, and other areas are covered by a Centrally Sponsored Scheme for the holistic expansion of the horticultural sector.
  • In all states, the Government of India gives 60% of the overall outlay for developmental programs (excluding in the North Eastern and Himalayan states, where the GOI contributes 90%), while state governments contribute 40%.
  • It has five major horticultural schemes:
  • Horticulture Mission for North East and Himalayan States (HMNEH), National Horticulture Board (NHB), Coconut Development Board (CDB), and Central Institute of Horticulture (CIH), Nagaland.
  • The National Horticulture Board (NHB) is a non-profit organization dedicated to the advancement of horticulture.
  • It was founded in 1984 on the proposals of Dr. M. S. Swaminathan’s “Group on Perishable Agricultural Commodities.”
  • Gurugram is the headquarters.
  • The goal is to strengthen the Horticulture industry’s integrated development and to assist in the coordination, sustainability, and processing of fruits and vegetables.
  • Source – The Hindu 

2 – ABOUT THE SOCIAL STOCK EXCHANGE:

GS III

Topic – Indian Economy

  • Context:
  • The Indian government has backed the Securities and Exchange Board of India’s (SEBI) crackdown on unregistered advisors who make stock-related recommendations on social media sites.
  • What exactly is the problem:
  • Many social media channels, including as YouTube, Twitter, and Telegram, are used by unregistered stock market gurus to provide stock market advice.
  • SEBI is now tightening its grip on such advisors, as they frequently mislead investors and undermine the market.
  • Background:
  • The idea of establishing SSEs in the country was initially proposed in the Union Budget of 2019.
  • Sebi formed a working group in September 2019 under the chairmanship of Tata group veteran Ishaat Hussain.
  • Sebi established the TG in September 2020 after determining that more expert input and clarity on the WG’s recommendation was required.
  • SEBI’s technical group (TG) has made the following recommendations on social stock exchanges (SSEs):
  • Eligibility: Both for-profit (FP) and non-profit (NPO) organizations should be able to use the SSE if they can show that they have a social purpose and impact.
  • Corporate foundations, political parties, and religious organizations should be barred from using the SSE mechanism to solicit contributions.
  • Equity, zero coupon zero principal bond (ZCZP), development impact bonds, social impact fund, currently known as social venture fund (SVP), with 100% grants-in grants-out provision, and donations by investors through mutual funds will be available for NPOs.
  • Equity, debt, development impact bonds, and social venture funds will be available to FP firms.
  • The minimum corpus size for such funds should be reduced from Rs 20 crore to Rs 5 crore, as well as the minimum subscription amount from Rs 1 crore to Rs 2 lakh.
  • The fund for SSE capacity enhancement should have a capital of Rs 100 crore.
  • This fund should be under the umbrella of Nabard. Exchanges, as well as other development agencies like SIDBI, should be required to contribute to this fund.
  • SEs can engage in the following general activities based on those listed by Niti Aayog under sustainable development goals:
  • These include alleviating hunger, poverty, malnutrition, and inequality; promoting gender equality through women’s empowerment; training to encourage rural sports; and slum area development and affordable housing.
  • What is the SSE (social stock exchange):
  • It’s a new concept in India, and the purpose of such a bourse is to help private and non-profit sector providers by channeling more funds their way.
  • SSE might be housed within an existing stock exchange, such as the BSE or the National Stock Exchange, according to the idea (NSE).
  • Significance:
  • Social welfare firms and non-profits could soon be able to raise so-called “social capital” on a transparent electronic platform, assisting in the recovery of livelihoods decimated by the coronavirus pandemic.
  • If all of these guidelines are followed, a lively and supportive ecosystem will emerge, allowing the non-profit sector to reach its full potential for social impact.
  • Source – The Hindu

3 – DETAILS OF THE ACT EAST POLICY:

GS II 

Topic – International Relations

  • Context:
  • A webinar on “Act East Policy” was recently held.
  • What is the ‘Act East Policy,’ and how does it work:
  • India’s ‘Act East’ policy is a diplomatic endeavor aimed at strengthening economic, geopolitical, and cultural ties with the large Asia-Pacific region at various levels.
  • It is seen as the modern version of Prime Minister V. Narasimha Rao’s ‘Look East Policy,’ which was unveiled in 1991.
  • The major goal of the ‘Look East Policy’ was to move the country’s trading focus from the west and neighbors to the rapidly growing economies of Southeast Asia.
  • In November 2014, the “Act East Policy” was unveiled at the East Asia Summit in Myanmar.
  • The government is depending on the 3 C’s (Culture, Connectivity, and Commerce) to improve relations with ASEAN nations under the “Act East Policy.”
  • The following are the key distinctions between “Look East Policy” and “Act East Policy”:
  • The “Look East Policy’s” main goal was to improve economic integration with South East Asian countries, and the area was limited to that region.
  • The “Act East Policy,” on the other hand, focuses on economic and security integration, and the focal region has expanded to include South East Asia as well as East Asia.
  • ‘Act East Policy’ has the following goals:
  • Through constant involvement at regional, bilateral, and multilateral levels, promote economic cooperation, cultural links, and the development of a strategic relationship with countries in the Asia-Pacific region.
  • Increased interaction between the states of North-Eastern India and other adjacent countries.
  • To investigate established commercial partners’ alternatives, such as a greater focus on Pacific countries in addition to South East Asian countries.
  • To limit China’s growing influence in the ASEAN region.
  • Source – The PIB

4 – ABOUT THE INTERNATIONAL DAY TO COMBAT ISLAMOPHOBIA:

Prelims Specific Topic

  • Today is the International Day Against Islamophobia.
  • The General Assembly of the United Nations has declared March 15 as the International Day to Combat Islamophobia.
  • India, on the other hand, expressed alarm about the fear of “one religion being raised to the status of a worldwide day.”
  • Source – The Hindu