- HOUSEHOLD’S DEBT SURGE
- Gross Domestic Product (GDP) This is the total monetary value of final goods and services produced in a country within a specific time period (usually a year)
- Household debt is often compared to GDP to understand the overall level of indebtedness in an economy
- Household Debt This refers to the total amount of liabilities that households owe, including mortgages, car loans, personal loans, etc.
- It is usually measured as a % of GDP
- Net Financial Savings This represents the difference between a household’s income and its consumption spending after accounting for physical asset purchases
- It reflects the amount of money households are saving in financial instruments like stocks, bonds, etc.
- Again, this is measured as a % of GDP
- Assets: Financial Assets: These are investments that represent claims on future income or wealth, such as stocks, bonds, or mutual funds
- Physical Assets: These are tangible possessions with economic value, such as houses, cars, or land
2. INNOVATIONS IN TRADITIONAL METHODS REVOLUTIONISING FARMING IN RAJASTHAN’S PARCHED SHEKHAWATI
- The method discussed in the passage is drip irrigation Farmers use slim polyethylene hoses for drip irrigation on their farm This method delivers water directly to the roots of plants, minimising waste and maximising water efficiency
- Here are other agricultural methods: Rainwater harvesting: This involves collecting rainwater in ponds or tanks for later use in irrigation
- Climate-controlled polyhouses: These are specialized structures that create a controlled environment for growing fruits, vegetables, and flowers throughout the year
- Dryland agroforestry: This method involves growing trees and crops together in arid regions. It helps conserve water and improve soil fertility ○ Value addition: This involves processing agricultural produce into products like candy, powder, or preserves to increase profitability
- Organic farming: This method avoids synthetic fertilizers and pesticides, promoting a more sustainable approach to agriculture
- Animal husbandry: Raising livestock like sheep and goats can provide additional income for farmers, especially those facing water scarcity
- Methods that help farmers in the Shekhawati region to
- Conserve water: Techniques like drip irrigation and rainwater harvesting are crucial in areas facing water scarcity ○ Increase yields: Polyhouses, improved cropping patterns, and organic farming can all lead to higher crop yields
- Diversify income: Techniques like value addition and animal husbandry provide farmers with additional income streams
- Improve market access: Farmer-producer organisations and cooperatives can help farmers connect with markets and get better prices for their produce
3. RIGHT AGAINST CLIMATE CHANGE A FUNDAMENTAL RIGHT, SAYS SC
- The Supreme Court Recognises the Right Against Climate Change A landmark judgement by the Supreme Court of India recognising a new fundamental right:
- Right against the adverse effects of climate change: The court acknowledges this right as implicit within Articles 14 (right to equality) and Article 21 (right to life) of the Indian Constitution.
- Key points from the judgement – Reasoning: Climate change threatens the right to life (through health impacts) and the right to equality (as poorer communities suffer more) Connection to other rights: Climate change can negatively affect rights to health, indigenous rights, gender equality, and development
- Importance of clean environment: A clean and stable environment is essential for realising the rights to life and equality
- Focus on solar power: The court emphasises the role of solar energy in mitigating climate change due to India’s: Growing energy demand
- Air pollution issues, Declining water resources
4. SAUDI ARABIA, PAKISTAN CALL FOR THE RESOLUTION OF KASHMIR DISPUTE
- Pakistan and Saudi Arabia are advocating for a resolution to the long-standing issues between India and Pakistan
- Particularly emphasising the need to address the Kashmir dispute
- Their joint statement calls for dialogue to ensure peace and stability in the region § Highlighting the Jammu and Kashmir issue as a central concern
- Additionally, amid Prime Minister Shehbaz Sharif’s visit to Saudi Arabia
- Both nations expressed a desire to see an end to the crisis in Gaza — urging international efforts to halt Israeli military operations and advocating for unhindered humanitarian aid access to the area
- This move comes at a time when India-Pakistan relations are strained
- Neither side have High Commissioners in the other’s capital
- This comes even as India’s ties with Saudi Arabia continue to strengthen
5. SEVERAL STATES ARE COMING TO COURT AGAINST CENTRE: SC
- Reasons for approaching the Supreme Court Lack of disaster relief funds: States like Tamil Nadu and Karnataka claim the central government is not providing adequate financial assistance for emergencies like droughts and floods
- Delayed response: Karnataka specifically mentions their request for aid being ignored for six months, despite following proper procedures
- Arbitrary decisions: Kerala accuses the central government of unfairly restricting their borrowing limits, causing financial strain
- Possible Constitutional conflicts Federalism: The Indian Constitution establishes a federal system where power is divided between the central government and the states These disputes suggest disagreements about how resources and responsibilities are allocated
- Right to life: States might argue that by not providing adequate disaster relief, the central government is violating the citizens’ fundamental right to life (as enshrined in the Constitution)
- Article 265: This article empowers the central government to provide financial assistance to states in need The states approaching the court might be arguing that the central government is not fulfilling its obligations under this article
- These states are seeking intervention from the Supreme Court to ensure they receive fair treatment and resources as mandated by the Constitution
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- India’s First Tri Service (Army, Navy, Air force) common Defense Station in Mumbai
- India has decided on 2025 as the Target Year to stop Importing Urea.
