UPSC Daily Current Affairs - 6th July 2024 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly PDF Download

GS2/Polity

House Rules Governing the Expunction Powers of Rajya Sabha Chairman, Lok Sabha Speaker

Why in news?

The first special session of the 18th Lok Sabha witnessed heated discussions, with the Opposition clashing with the government. Rajya Sabha Chairman removed significant portions of Mallikarjun Kharge's speech. Meanwhile, in the Lower House, parts of Rahul Gandhi's remarks on the PM and the BJP were expunged from the records on the orders of Speaker.

Background:

• The practice of expunging remarks is a standard parliamentary procedure, but the 'selective expunction' by the presiding officers has become a flashpoint between the Opposition and the Centre.

When are remarks expunged from parliamentary records?

• Parliament maintains a verbatim record of everything that is spoken and takes place during proceedings.
• While Article 105 of the Constitution confers certain privileges and freedom of speech in Parliament on MPs, it is subject to other provisions of the Constitution and the rules of the House.
• On the orders of the presiding officer, that is, the Chairman in the Upper House and the Speaker in the Lower House, words, phrases and expressions which are deemed "defamatory, indecent, unparliamentary or undignified" are deleted or expunged from records.
• There have been recorded instances where the scope of expunction has been broadened. The Speaker, at their discretion, has ordered the expunction of words deemed prejudicial to national interest or detrimental to maintaining friendly relations with a foreign State, derogatory to dignitaries, likely to offend national sentiments or affect the religious susceptibilities of a section of the community, likely to discredit the Army, and not in good taste or otherwise objectionable or likely to bring the House into ridicule or lower the dignity of the Chair, the House or the members.
• Members must withdraw objectionable remarks deemed irrelevant to the debate upon the Chair's request and failure to comply may lead to expunction.
• Similarly, quoting from an unreferenced document or speaking after being asked to desist can result in an expunction.
• Continuous interruptions during speeches may also be expunged at the Speaker's discretion.

How do presiding officers expunge remarks? What do the rules say?

• The Chairman and Speaker are vested with the power to order the expunction of remarks under Rule 261, and Rule 380 and 381 of the Rules of Procedure of the Rajya Sabha and Lok Sabha, respectively.
• The expunged portions are marked by asterisks with an explanatory footnote stating 'expunged as ordered by the Chair.' If the Chair directs that nothing will go on record during a member's speech or interruption, footnote 'not recorded' is inserted.
• A comprehensive list of words and phrases is circulated to media outlets at the end of the day's proceedings. Once expunged, these words or phrases cease to exist on the official record. Anyone who publishes them thereafter is liable to face charges for breach of privilege of the House.
• However, the relevance of the practice of expunging remarks has lately come into question, in a digital age where expunged content remains accessible due to the live telecast of proceedings and wider circulation of screenshots and videos on social media.

GS3/Science and Technology

What is Aphelion?

Why in news?

Early on July 5, the Earth reached aphelion, its farthest distance from the sun in our year-long journey around our nearest star.

• Aphelion is a term used in astronomy to denote the point in the orbit of a planet or celestial body where it is farthest from the Sun.
• The Earth’s orbit around the Sun is not a perfect circle but rather an ellipse, with the Sun situated at one of the two foci of the ellipse.
• Aphelion marks the moment when Earth is at its maximum distance from the Sun along this elliptical path.
• The concept of aphelion was crucial in Johannes Kepler's formulation of his laws of planetary motion during the 17th century.

How far is the Earth from the Sun at aphelion?

• At aphelion, which occurs around July 4th-5th each year, the Earth is approximately 152.1 million kilometers (about 94.5 million miles) away from the Sun.
• This distance is about 3.3% greater than its average distance from the Sun, known as its semi-major axis, which is about 147.1 million kilometers.
• Aphelion has a slight effect on temperatures on Earth, but its impact is minimal compared to other factors such as axial tilt and atmospheric circulation patterns.
• Despite being farther from the Sun during aphelion, the Earth’s tilt towards the Sun during the northern hemisphere’s summer results in warmer temperatures for that region. This phenomenon is primarily responsible for the seasons on Earth.

What would happen if there were no aphelion?

• If Earth’s orbit were perfectly circular, without aphelion or perihelion (the closest point to the Sun), the distance between Earth and the Sun would remain constant throughout the year.
• This scenario would result in less variation in seasonal temperatures between the northern and southern hemispheres.
• The distinct seasons that we experience today, which are essential for ecological diversity and agricultural cycles, would be significantly altered.

PYQ:

Variations in the length of daytime and night time from season to season are due to-

(a)The earth’s rotation on its axis
(b)The earth’s revolution round the sun in an elliptical manner
(c)Latitudinal position of the place
(d)Revolution of the earth on a tilted axis

GS3/Economy

India’s Fintech Funding Plummets Amid Global Slowdown, Shows Report

Why in news?

Despite achieving a significant milestone in H1 2024, the fintech sector has encountered notable funding difficulties.

What is the Fintech Sector?

• The fintech sector encompasses technologies and innovations that aim to compete with traditional financial methods in the delivery of financial services. This includes a wide range of applications like mobile banking, online payments, digital lending, and blockchain technology.

Present Report Insights

• Funding Decline: The Indian fintech sector recorded $795 million in funding in H1 2024, a decrease of 11% from H2 2023 and 59% from H1 2023.
• Global Ranking: Despite the decline, the Indian fintech ecosystem ranked among the top three globally funded sectors alongside the US and UK in H1 2024.
• Major Transactions: Only two funding rounds exceeded $100 million in 2024, with Perfios becoming the only unicorn. Bengaluru led the funding, followed by Mumbai and Pune.
• Segment Performance: Alternative Lending, RegTech, and BankingTech were the top-performing segments, with Alternative Lending securing $646 million, making up 81% of the total funding.
• Acquisitions and IPOs: There were six acquisitions and five IPOs in H1 2024, marking significant activity despite the overall funding challenges.

Significance of Fintech Sector

• Financial Inclusion: Fintech innovations enhance financial inclusion by providing access to financial services to unbanked and underbanked populations.
• Economic Growth: The sector contributes significantly to economic growth by fostering innovation, creating jobs, and boosting consumer spending.
• Efficiency and Transparency: Fintech solutions improve efficiency and transparency in financial transactions, reducing costs and fraud.
• Support for Startups: The sector offers numerous opportunities for startups, driving entrepreneurship and competition.
• Data Security: Fintech companies must implement strong security measures to protect sensitive customer data from cyber-attacks and data breaches.

For example

• Acko, a leading Indian fintech startup, has faced issues with data breaches in the past, highlighting the importance of robust data security protocols in the industry.

Regulatory Compliance

• The fintech industry is highly regulated, requiring companies to stay updated on the latest government policies and ensure compliance to avoid penalties.
• the Reserve Bank of India (RBI) has issued guidelines to protect consumers from predatory lending practices by digital lenders, underscoring the need for fintech firms to navigate the evolving regulatory landscape.

Customer Acquisition and Retention

• Attracting and retaining customers is critical for fintech firms.
• BharatPe, a prominent Indian fintech company, has faced challenges in customer retention due to its focus on merchant acquisition.

Funding and Investment

• Securing adequate funding and investments remains a challenge for many fintech startups.
• Paytm, one of India’s largest fintech companies, has faced scrutiny from investors due to its inability to achieve profitability.

How India Can Improve Its Fintech Sector

• Supportive Regulatory Environment: Create a regulatory framework that encourages innovation while ensuring consumer protection and systemic stability, facilitating a balanced growth of the fintech ecosystem.
• Infrastructure Development: Invest in digital infrastructure, such as high-speed internet and mobile connectivity, to support the widespread adoption and efficient functioning of fintech applications across the country.
• Focus on Cybersecurity: Ensure robust cybersecurity measures to protect against fraud and cyber-attacks, building trust among users and maintaining the integrity of fintech services.

Steps taken by the government

• Regulatory Sandbox: The Securities and Exchange Board of India (SEBI) introduced a framework for regulatory sandbox in 2020 to allow fintech companies to experiment with new products and services in a controlled environment.
• Digital Personal Data Protection Bill: Introduced in 2022, this bill aims to create a framework for the protection of personal data collected by fintech companies.
• Guidelines on Digital Lending: In 2022, the Reserve Bank of India (RBI) issued guidelines to protect consumers from predatory lending practices by digital lenders.
• Promoting Financial Inclusion: The Pradhan Mantri Jan Dhan Yojana (PMJDY) has helped in enrolling over 523.9 million beneficiaries for new bank accounts, enabling fintech startups to reach a large consumer base.
• Aadhar and UPI: The unique biometric identification system Aadhar and the Unified Payments Interface (UPI) have improved transparency and delivery of financial service.

Conclusion

• Fintech companies in India face challenges including data security, regulatory compliance, customer acquisition, and securing investments. Addressing these ensures sustainable growth and trust in a competitive market environment.

Mains PYQ

Has digital illiteracy, particularly in rural areas, coupled with a lack of Information and Communication Technology (ICT) accessibility hindered socio-economic development? Examine with justification. (UPSC IAS/2021)

GS3/Science and Technology

Hologram Technology

Why in news?

Japan has recently introduced redesigned yen banknotes that incorporate advanced 3D hologram technology. This move aims to enhance security measures against counterfeiting, showcasing Japan's commitment to staying ahead in the fight against counterfeit currency.

About HOLOGRAM TECHNOLOGY :

Holograms are essentially three-dimensional (3D) images that are created by recording light patterns to mimic how our eyes perceive objects in space. Unlike traditional photographs or flat images, holograms capture depth and parallax, making them appear lifelike and immersive. Due to their intricate design, they serve as a robust defence against counterfeiting.

Applications:

• Visual Displays: Holographic displays find applications in advertising, art, and entertainment industries, offering unique and captivating visual experiences.
• Data Storage: Holographic data storage is utilized for high-capacity storage needs, providing efficient and secure data storage solutions.
• Microscopy: In biology and other sciences, holographic microscopy is employed for detailed and precise biological imaging, aiding researchers and scientists in their studies.
• Interferometry: Holographic interferometry plays a pivotal role in fields such as metrology and engineering, enabling precise measurements and analyses.
• Medical Imaging: Holographic techniques play a crucial role in medical diagnostics, offering advanced imaging solutions for healthcare professionals to diagnose and treat various conditions.

GS1/Geography

Kaveri River

Why in news?

The Karnataka state government has formed a nine-member committee to tackle the pollution of the Kaveri River following concerns raised by MLC Dinesh Gooligowda regarding sewage, solid waste, industrial effluents, and other pollutants adversely affecting marine life and public health. The expert panel will explore ways to mitigate environmental degradation caused by various contaminants, including industrial discharges and sewage.

About KAVERI RIVER :

• Origin: The Kaveri River originates at Talakaveri in the Brahmagiri range of the Western Ghats, situated in Kodagu district, Karnataka.
• Waterfalls: Notable waterfalls along the Kaveri River include Shivanasamudra Falls, Hogenakkal Falls, and Chunchanakatte Falls.
• Course: The river traverses about 800 kilometers before meeting the Bay of Bengal near Poompuhar, in Mayiladuthurai district, Tamil Nadu.
• Tributaries:
  • Left Bank: Harangi, Hemavati, Shimsha, Arkavati, Sarabanga, Thirumanimutharu.
  • Right Bank: Lakshmana Tirtha, Kabini, Bhavani, Noyyal, Amaravati, Moyar.
• Catchment Area: The Kaveri basin spans across three states and a Union Territory:
  • Tamil Nadu: 43,868 square kilometers.
  • Karnataka: 34,273 square kilometers.
  • Kerala: 2,866 square kilometers.
  • Puducherry: 148 square kilometers.
• Dams and Reservoirs: Various dams and reservoirs manage the flow of the Kaveri River, including the Krishna Raja Sagara Dam, Mettur Dam, and Kabini Dam, crucial for water allocation and storage.

GS3/Economy

Women get only 7% MSME credit: RBI ED

Why in News?

Reserve Bank’s Executive Director Neeraj Nigam highlighted that low labour force participation among women is a significant barrier to financial inclusion and broader economic growth.

Barriers to Financial Inclusion

• Low labour force participation among women is a significant barrier to financial inclusion.
• Only 7% of outstanding loans to MSMEs are to women-led businesses.

Economic Participation

• Greater participation of women in economic activities is essential for financial inclusion and economic growth.

Participation Disparity

• Female labour force participation at 32.8% in FY22, compared to over 77% for men.

Credit Disparity

• Women-led businesses constitute nearly a fifth of MSMEs but receive only 7% of the outstanding credit to this sector.

Efforts and Challenges in Financial Inclusion

• RBI expresses satisfaction with access to financial services.
• Success of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) scheme and social security transfers.
• Demand-side issues still need attention.
• Structural issues impede women's financial inclusion.

Stereotyping and Behavioral Issues

• Women borrowers face stereotyping by financiers.
• Behavioural challenges among women borrowers.

Policy Moves

• Priority Sector Lending and Financial Literacy Initiatives.

Government Schemes

• Stand Up India Scheme.
• Mudra Yojana Scheme.
• Annapurna Scheme.

Conclusion

• Low labour force participation and limited credit access for women remain significant barriers to financial inclusion and economic growth.
• Addressing structural and societal issues, overcoming stereotypes, and improving financial literacy are essential steps towards empowering women economically.
• Sustained efforts and collaborative action are needed to ensure that women can fully participate in economic activities.

GS1/Law & Society

Spiritual Orientation, Religious Practices and Courts

Why in news?

The ongoing debate regarding the interaction of religion and law highlights the challenges of adjudicating religious practices.

• In the Indian setting, religion plays a fundamental role in society, with a strong religious inclination among the populace.

Navin Kumar (2024) Case and Angapradakshinam

• Angapradakshinam, a ritual involving devotees rolling over banana leaves used for meals, was at the center of a case before the Madras High Court.
• Previously restricted due to concerns of caste discrimination, the ritual was recently permitted by Justice Swaminathan.
• Justice Swaminathan's decision emphasized the petitioner's rights under Articles 25 and 21 of the Constitution.

Implications of the Order

• The ruling has sparked debates about the definition of religion and essential religious practices.
• Justice Swaminathan's judgment highlighted the established nature of angapradakshinam but lacked a rigorous examination of its essentiality.

Analysis of Essential Practices Doctrine

• Origin and Early Application
• Durgah Committee, Ajmer v. Syed Hussain Ali (1961)
• Gramsabha of Village BattisShirala (2014)
• Mohammed Fasi v. State of Kerala (1985)
• Acharya Jagdishwarananda Avadhuta v. Commissioner of Police, Calcutta (2004)
• Ismail Faruqui v. Union of India (1995)

Way Forward

• Avoid Theological Judgments
• Consider Evolution of Practices
• Uphold Constitutional Values

Conclusion

• The Essential Practices Doctrine is a critical but contentious aspect of judicial decision-making in India.
• A balanced and principled approach is necessary to safeguard religious freedoms while upholding constitutional values.

GS2/Governance

Seher Program to Empower Women Entrepreneurs

Why in news?

The Women Entrepreneurship Platform (WEP) and TransUnion CIBIL have launched a pioneering credit education program aimed at empowering women entrepreneurs in India.

About Women Entrepreneurship Platform (WEP)

• WEP, incubated at NITI Aayog in 2018, aims to create an enabling ecosystem for women entrepreneurs in India through a public-private partnership.
• WEP’s Financing Women Collaborative (FWC) initiative accelerates access to finance for women entrepreneurs, addressing key barriers such as information asymmetry.

About SEHER Program

• SEHER aims to provide comprehensive financial literacy content and essential business skills to women entrepreneurs.
• It will facilitate their access to financial tools crucial for business growth and employment creation.
• The program includes personalized resources on financial literacy, emphasizing the importance of building a strong credit history and CIBIL score.

Need for such a program

• India has 63 million MSMEs, with 20.5% being women-owned, employing 27 million people.
• Accelerating women’s entrepreneurship could create over 30 million new women-owned enterprises and 150 to 170 million jobs.

PYQ:

“Empowering women is the key to control population growth”. Discuss.

GS1/History & Culture

Leang Karampuang Cave is the World’s Oldest Cave Art

Why in news?

A cave painting discovered in the limestone cave of Leang Karampuang on Sulawesi Island, Indonesia, dates back at least 51,200 years.

• The painting features a scene with three part-human part-animal figures interacting with a wild pig, depicted in red pigment.

Study Details:

• Published in the journal Nature, the study titled ‘Narrative cave art in Indonesia by 51,200 years ago’ used a new dating technique to determine the age of the artwork.
• The study involved 23 researchers from Griffith University, Southern Cross University, and the Indonesian National Research and Innovation Agency.

Use of Uranium-based Dating:

• A new dating technique utilizes uranium series (U-series) analysis on calcite deposits above cave art.
• The laser-based analysis measures uranium-thorium ratios to accurately date paintings, highlighting significant age revisions for cave art in Sulawesi.

Leang Karampuang Cave:

• Situated in the Maros-Pangkep karst region of South Sulawesi, Indonesia.
• The cave is renowned for its ancient rock art and archaeological findings, providing insights into early human civilization in the region.
• Features some of the oldest known hand stencils paintings of animals, believed to be created by early humans.

Key features of the Cave Paintings:

• A painted scene depicting on the cave wall.
• The artwork features a pig standing upright alongside three smaller human-like figures, all painted in a single shade of dark red pigment.
• This painting predates the cave art found in El Castillo, Spain, dating back around 40,800 years ago, marking it as older than European cave paintings.

Significance of the Painting:

• According to researchers, the figures in the painting depict dynamic action, suggesting a narrative or story being told.
• The discovery pushes back the origin of figurative art among Homo sapiens, indicating a rich history of storytelling through visual art in early human societies.
• While Neanderthals began cave markings earlier, around 75,000 years ago, these were primarily non-figurative.
• The Sulawesi cave art suggests an advanced cultural and artistic development among early humans, predating similar European art by millennia.

Contemporary Period in the Indian Subcontinent:

• Homo sapiens had already migrated to various parts of the Indian subcontinent by this time.
• Evidence suggests human habitation in India dates back to at least 70,000 years ago, with notable archaeological sites like Bhimbetka in Madhya Pradesh showing signs of early human activity and rock art.

PYQ:

[2017] The painting of Bodhisattva Padmapani is one of the most famous and oft-illustrated paintings at

(a) Ajanta
(b) Badami
(c) Bagh
(d) Ellora

GS3/Economy

Tariff Hikes on Chinese Goods and Red Sea Crisis Impacting Exporters

Why in news?

India and global traders are facing severe container shortages due to the European Union's tariffs on Chinese electric vehicle imports and upcoming US tariffs. Indian exporters raised concerns about container shortages exacerbated by structural weaknesses.

Reasons behind the container crunch

• Steep US and EU tariffs on Chinese products
• Increased demand from Chinese exporters due to impending tariffs
• Scale of trade between US and China raising container demand

Contribution of the Red Sea crisis

• Near-daily attacks by Yemen's Houthi rebels
• Reduction in traffic by 90%
• Ships forced to take longer routes, increasing port congestion

Continued and expanded tariffs

• Biden administration's tariffs targeting high-demand items like EVs
• Other countries like Canada and Indonesia imposing higher tariffs on Chinese goods

Dependence on China for containers

• China producing 95% of global supply of containers
• Efforts to mitigate dependence by India and the US through domestic production
• Challenges faced in domestic container production