Daily Current Affairs 12 July 2024 – IAS Current Affairs
Current Affairs 12 July 2024 focuses on the Prelims-Mains perspective. Major events are :
Samvidhaan Hatya Diwas
Source: Business Standard
GS II: Functions and responsibilities of the Union and the States, issues and challenges pertaining to the federal structure, devolution of powers and finances up to local levels and challenges therein
Overview
- News in Brief
- What Is Samvidhaan Hatya Diwas?
- The 1975 Emergency: A Dictatorial Regime
- Types of Emergencies
- Conclusion
Why in the News?
The government announced on Friday that June 25 will be observed every year as Samvidhaan Hatya Diwas.
News in Brief
- The Government of India has decided to observe the 25th of June every year as ‘Samvidhaan Hatya Diwas.’
- This day will commemorate the massive contributions of all those who endured the inhuman pains of the 1975 Emergency.
- The Constitution and the Emergency also dominated the special session of Parliament, which began on June 24.
- The Emergency was a part of President Droupadi Murmu’s address to a joint sitting of Parliament as well.
- The Congress party criticized the move, calling it a “headline-grabbing exercise” and highlighting their own defeat in 2024 as ModiMukti Diwas.”
What Is Samvidhaan Hatya Diwas?
- Samvidhaan Hatya Diwas translates to Constitution Murder Day.
- It commemorates a dark chapter in Indian history.
- The imposition of the Emergency by then-Prime Minister Indira Gandhi on June 25, 1975.
- During this period, civil rights were suspended, dissent was stifled, and thousands of people were unjustly imprisoned.
Why Remember Samvidhaan Hatya Diwas?
- Historical Reminder: Observing this day serves as a reminder of the consequences when the Constitution is trampled upon.
- Honouring Victims: It pays homage to those who endured the inhuman pains of the Emergency.
- Government Perspective: The Prime Minister emphasized that June 25 honours those who suffered due to Emergency excesses.
The 1975 Emergency: A Dictatorial Regime
- Background: In 1975, India faced political turmoil, and Indira Gandhi declared a state of Emergency, citing internal disturbances.
- Duration: The Emergency, which lasted for 21 months.
- Impact: The Emergency led to the suspension of fundamental rights, censorship of media, and widespread abuses of power.
- Mass Arrests: Lakhs of people, including political activists, journalists, and ordinary citizens, were thrown behind bars without due process.
- Media Suppression: The voice of the media was silenced, and censorship was rampant.
- Democracy Under Siege: The Emergency was seen as an assault on democracy and the Indian Constitution.
- Decree Rule: The order bestowed upon the prime minister the authority to rule by decree, allowing elections to be cancelled and civil liberties to be suspended.
- Political Opponents: For much of the Emergency, most of Gandhi’s political opponents were imprisoned, and the press faced censorship.
Types of Emergencies
- National Emergency (Article 352)
- Grounds for Declaration: The President can declare a national emergency when the security of India or a part of it is threatened by war, external aggression, or armed rebellion.
- External Emergency: Declared due to war or external aggression.
- Internal Emergency: Declared due to armed rebellion.
- Approval: The proclamation of emergency must be approved by both houses of Parliament within one month.
- Judicial Review: The 44th Amendment Act of 1978 restored the judicial review of National Emergency declarations.
- State Emergency (Article 356)
- Governor’s Report: If the President is satisfied that the governance in a state cannot be carried out according to the Constitution, the President can impose President’s Rule.
- Approval: The proclamation of State Emergency must be approved by both houses of Parliament within two months.
- Judicial Review: The Supreme Court can review the imposition of the President’s Rule.
- Financial Emergency (Article 360)
- Grounds: If the financial stability of India or any state is threatened.
- Approval: The President can proclaim a Financial Emergency without parliamentary approval, but it must be ratified within two months.
Conclusion
- The Emergency remains a pivotal chapter in India’s history, marked by media censorship, restrictions on civil rights, and a forced mass sterilization campaign.
- It serves as a reminder of the delicate balance between security and individual freedoms during critical times.
SEHER Scheme
Source: Business Today
GS III: Indian Economy; GS II: Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes;
Overview
- News in Brief
- About SEHER Scheme
- Women Entrepreneurship Platform
- TransUnion CIBIL
Why in the News?
Women Entrepreneurship Platform (WEP) and TransUnion CIBIL have launched SEHER.
News in Brief
- According to TransUnion CIBIL data, there has been a significant rise in the demand for business loans by women.
- During this period, the number of women borrowers holding business loans increased by 10%, with women constituting 38% of the 1.5 crore borrowers.
- The portfolio balance for business loans held by women grew at a compound annual growth rate (CAGR) of 35% from March 2019 to March 2024.
About SEHER Scheme
- SEHER is a credit education program designed to enhance financial literacy and business skills among women entrepreneurs.
- This initiative aims to provide crucial support, empowering women to access the financial tools necessary for business expansion and job creation.
- It is a first-of-its-kind initiative aimed at accelerating access to finance for women entrepreneurs.
- This initiative supports WEP’s goal of improving financing access for women in India’s 63 million MSMEs.
Major focus of the Scheme
- Educate women on financial topics, including their CIBIL Rank and commercial credit reports.
- Help women understand how to access and manage credit effectively.
- Provide resources and training to help women manage and grow their businesses.
Women Entrepreneurship Platform
- The Women Entrepreneurship Platform (WEP) by NITI Aayog is an initiative aimed at fostering and nurturing female entrepreneurship in India.
- It provides a unified access portal to a multitude of services, including funding support, mentorship, incubation, and partnerships.
- WEP seeks to empower women by addressing and overcoming challenges they face in the entrepreneurial ecosystem, thereby promoting inclusive growth and innovation.
TransUnion CIBIL
- TransUnion CIBIL, formerly known as Credit Information Bureau (India) Limited, is India’s premier credit information company.
- Established in 2000, it is a key player in the financial sector, providing critical credit information services to banks, financial institutions, and consumers.
Functions and Services
- Credit Information Reports (CIR) and Credit Scores:
- CIR: A detailed report that includes a borrower’s credit history across various loans and credit institutions. It helps lenders assess the creditworthiness of an individual or a business.
- Credit Score: A three-digit numeric summary of an individual’s credit history, ranging from 300 to 900. A higher score indicates better creditworthiness.
- Consumer and Commercial Credit Information:
- Consumer Credit: Covers individual borrowers and their credit behaviors.
- Commercial Credit: Involves credit data of businesses and commercial entities.
- Credit Insights and Analytics:
- TransUnion CIBIL provides analytical tools and insights to financial institutions, helping them make informed lending decisions and manage risk effectively.
- Fraud and Verification Services:
- Helps in identifying potential fraudulent activities and ensures the authenticity of the information provided by borrowers.
BIMSTEC Countries
Source: PIB
GS II: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
Overview
- News in Brief
- What is BIMSTEC?
- BIMSTEC Countries
Why in the News?
India hosted the first BIMSTEC Foreign Ministers’ Retreat held in New Delhi,
News in Brief
- Fruitful discussions with the group of Ministers on further strengthening the regional cooperation in diverse areas including connectivity, energy, trade, health, agriculture, science, security and people to people exchanges.
- Stressed on the role of BIMSTEC as an engine for economic and social growth.
- India fully supports Thailand for the upcoming BIMSTEC Summit to be held in September.
What is BIMSTEC?
- BIMSTEC is a regional organization
- BIMSTEC Countries comprising seven Member States:
- Five from South Asia: Bangladesh, Bhutan, India, Nepal, and Sri Lanka.
- Two from Southeast Asia: Myanmar and Thailand.
- It was established on June 6, 1997, through the Bangkok Declaration.
- The BIMSTEC Secretariat is headquartered in Dhaka, Bangladesh.
Areas of Cooperation:
- BIMSTEC covers various sectors, including:
- Trade
- Technology
- Energy
- Transport
- Tourism
- Fisheries
- Agriculture
- Human resource development
- Investment
- Commerce
Significance of BIMSTEC Countries
- Global Weightage:
- Approximately 22% of the world’s population resides in the seven BIMSTEC countries around the Bay of Bengal.
- Their combined GDP is close to USD 2.7 trillion.
- A fourth of the world’s traded goods pass through this region annually.
- Regional Strategic Incentives:
- Each country has unique strategic interests:
- Bangladesh aims to elevate its status beyond being a small state on the Bay of Bengal.
- Sri Lanka sees it as an opportunity to connect with Southeast Asia and become an Indo-Pacific hub.
- Nepal and Bhutan seek to overcome their landlocked positions by connecting with the Bay of Bengal.
- Myanmar and Thailand view BIMSTEC as a means to access India’s consumer market and balance China’s influence.
- Each country has unique strategic interests:
- Importance for India:
- BIMSTEC aligns with India’s foreign policy objectives of “Neighborhood First” and “Act East.”
- It bridges South and Southeast Asia, encompassing the ecologies of the Great Himalayas and the Bay of Bengal.
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