Daily Prelims Notes 20 April 2024

Daily Prelims Notes

20 April 2024

1. Fossils of massive prehistoric snake found in lignite mine in Gujarat

Subject: History

Sec: Art and Culture

Context:

• Researchers at the Indian Institute of Technology (IIT) Roorkee have reported the discovery of fossils of one of the largest snakes that ever existed and likely lived 47 million years ago during a period called the Middle Eocene. 

More on news:

• The fossils were found in Kutch, Gujarat, and the reptile, named Vasuki Indicus, could have been anywhere between 10 meters and 15 meters long, or as big as a modern-day school bus.
• It belonged to the now-extinct Madtsoiidae snake family but represents a unique lineage from India, the authors note.
• Researchers at the Indian Institute of Technology (IIT) Roorkee have reported the discovery of fossils of one of the largest snakes that ever existed and likely lived 47 million years ago during a period called the Middle Eocene.

The vertebrae of Vasuki Indicus found in Kutch.

About the Vasuki Indicus:

• Vasuki Indicus likely had a broad and cylindrical body, hinting at a robust and powerful build and was as big as Titanoboa, a massive snake that once roamed the earth and is reportedly the longest ever known.
• Vasuki is an extinct genus of madtsoiid snake from the Middle Eocene Naredi Formation of India. 
• The genus contains a single species, V. indicus, known from several vertebrae.
• Much like present-day pythons and anaconda, Vasuki Indicus killed its prey by suffocation.
• Vasuki refers to the mythical snake often depicted around the neck of the Hindu god Shiva.
• The fossils were found in Kutch, Gujarat, and the reptile, named Vasuki Indicus, could have been anywhere between 10 meters and 15 meters long, or as big as a modern-day school bus.
• Vasuki Indicus likely had a broad and cylindrical body, hinting at a robust and powerful build and was as big as Titanoboa, a massive snake that once roamed the earth and is reportedly the longest ever known.
• The reptile existed at a time when the earth looked quite different from today, and Africa, India and South America were one, conjoined landmass.

Places in news:

• The Panandhro Lignite Mine in Gujarat where the fossils were found. Red arrow indicates the level at which the remains were discovered.

2. Summary of the African Debt Crisis

Subject: Economy

Sec: Fiscal Policy

Background:

• Ghana, like many other African countries, faces a severe debt crisis after defaulting on a significant portion of its foreign debt in December 2022.
• The debt crisis is exacerbated by the repayment schedule, leading to economic distress and hindering development efforts.

Rising Debt Burden:

• Debt service payments for 16 African countries surged to $22.3 billion in 2023, straining government revenues and hindering economic growth.
• The loan interest to revenue ratio has doubled over the past decade, reaching 11%, significantly higher than in advanced economies.

International Conference on African Debt Crisis:

• Economists and policy experts gathered in Accra for an international conference on the African debt crisis, organized by the International Development Economics Associates (IDEAs) network.
• The conference highlighted common features and distinct challenges faced by debt-distressed countries across Africa, Asia, and Latin America.

Call for Reform:

• Experts called for substantial reform of the international financial architecture, advocating for a more equitable system that does not burden the Global South.
• They proposed a more active role for the UN in negotiating debt treatment, including potential debt relief measures monitored by a transparent, multilateral body.

Structural Issues and Predatory Lending:

• The debt crisis is attributed to structural issues rather than solely financial mismanagement or corruption, challenging prevailing narratives.
• Low-income countries increasingly borrow from private creditors due to the unavailability of affordable credit from rich countries, exacerbating the crisis.
• Predatory lending practices by private creditors receive less attention compared to narratives surrounding Chinese debt.

Zambia’s Approach and Challenges:

• Zambia’s comprehensive debt treatment plan under the G20 Common Framework serves as a test case, but negotiations with creditors, both official and private, are protracted.
• Despite endorsing the Common Framework, its effectiveness has been limited, leading to calls for an expanded role of multilateral banks and international cooperation on taxation.

Conclusion:

• The lack of monetary sovereignty and structural adjustment programs perpetuate the debt crisis, hindering growth and development in indebted countries.
• Reforms in the international financial architecture are imperative to address the root causes of the crisis and ensure sustainable development in Africa and other debt-distressed regions.

Understanding the Global South:

• Definition and Characteristics:
  • The Global South encompasses countries primarily located in Africa, Asia, and Latin America.
  • These nations are often labeled as developing, less developed, or underdeveloped.
  • Challenges include higher levels of poverty, income inequality, and difficult living conditions compared to the wealthier nations of the Global North.
• Origins and Evolution:
  • Coined in 1969 by political activist Carl Oglesby.
  • Gained prominence after the dissolution of the Soviet Union in 1991.
  • Shifted from the previous term “Third World,” associated with negative stereotypes, to a more neutral and inclusive alternative.
• Geopolitical and Economic Context:
  • Transcends strict geographical boundaries, encompassing political, geopolitical, and economic similarities among nations.
  • Many countries in the Global South have a history of imperialism and colonial rule, shaping their perspectives on the global political economy.
  • Shared challenges include advocating for fair trade practices, debt relief, and addressing climate change.

US Support for G-4 at UNSC:

• Reforming the Security Council: The United States, acknowledging that the United Nations Security Council (UNSC) does not accurately represent contemporary global realities, has expressed support for the G-4 members to attain permanent seats on the Council.
• US Ambassador’s Statement: US Ambassador to the UN, emphasized the need for reform in the UNSC, noting that the Council’s structure from 70 years ago is outdated and inadequate, however, highlighted that Russia and China are the only nations in the Security Council opposed to its expansion and reform.
• Support for G-4 Members: The US supports the inclusion of G-4 members – Japan, Germany, India, and Brazil – as permanent members of the Security Council to better reflect the current global landscape.
• Addressing Regional Representation: Recognizing the lack of permanent seats for Africa and Latin America, the US advocates for additional elected seats on the Council to ensure broader representation.
• India’s Role: India has long championed efforts to reform the Security Council, advocating for its rightful place as a permanent member to align with contemporary geopolitical realities.

United Nations Security Council (UNSC):

• Establishment: Established in 1945 by the United Nations Charter, the UNSC holds primary responsibility for maintaining international peace and security.
• Membership: The Security Council consists of 15 members:
  • Five permanent members: United States, Russian Federation, France, China, and United Kingdom.
  • Ten non-permanent members elected for two-year terms.
• Voting: Each member has one vote. Decisions require an affirmative vote of nine members, including concurring votes from all five permanent members. A single “No” vote from any permanent member can block the passage of a resolution.
• Participation: Non-members of the Security Council may participate in discussions without voting rights if their interests are directly affected by the matter at hand.

Group of Four (G-4) Countries:

• Composition: The G-4 comprises Brazil, Germany, India, and Japan, all of whom aspire to attain permanent membership status in the UNSC.
• Mutual Support: The G-4 nations actively support each other’s bids for permanent UNSC membership.
• Annual Meetings: Traditionally, the G-4 nations convene on the sidelines of the UN General Assembly’s annual high-level session to discuss their aspirations and strategies regarding UNSC reform.

3. Summary of remarks of RBI

Subject: Economy

Sec: Monetary Policy

Concerns About Inflation: Dr. Patra emphasized the need to restore price stability to sustain economic growth, indicating that current economic conditions do not support easing the restrictive monetary stance.

Food Inflation Risks: He noted that recent inflation data and high-frequency indicators showed elevated risks of food inflation, particularly as temperatures rise during summer, leading to a buildup of price momentum.

Persistent Food Inflation: Official retail inflation data for March revealed sticky food prices, with inflation barely slowing down from February, especially in cereals and meat.

Challenges for Inflation Alignment: Dr. Patra highlighted that despite steady core disinflation and fuel price declines, there is no assurance of faster alignment of headline inflation with the target. Inflation is expected to remain in the upper reaches of the RBI’s tolerance band until favorable base effects kick in.

Maintaining Restrictive Stance: He stressed that conditions do not favor any relaxation in the restrictive stance of monetary policy. Downward pressure on inflation must be sustained until a better balance of risks emerges and uncertainties in the near term dissipate.

Importance of Confidence: Dr. Patra underscored that a stronger revival in private consumption and corporate sales growth hinges on greater confidence that inflation is declining on a durable basis.

Focus on Price Stability: Governor Das emphasized the importance of maintaining unwavering focus on ensuring durable price stability, even amid successes in the disinflation process.

Risk of Supply Shocks: He warned against the vulnerability of the inflation trajectory to supply-side shocks, particularly in food inflation due to adverse weather events and other factors, which could also spill over into core inflation.

Call for Rate Cut: Mr. Varma, the sole dissenting voice on the MPC, advocated for a 25 basis points cut in the policy repo rate. He argued that the current real interest rate is excessively high and imposes costs on the economy’s growth momentum.

Monetary Policy Stances Explained:

• Hawkish Monetary Policy Stance:
  • Meaning: Favors high-interest rates to control inflation.
  • High interest rates discourage borrowing, leading to reduced consumer spending and credit uptake.
  • Reduced demand for goods and services stabilizes prices and prevents inflation.
  • Increased interest rates may strengthen the country’s currency.
• Dovish Monetary Policy Stance:
  • Meaning: Involves low interest rates to stimulate economic activity.
  • Low-interest rates encourage borrowing, boosting consumer spending and demand for goods and services.
  • Increased demand may lead to inflation, which balances economic growth.
  • Advocates believe lower rates can increase employment and economic growth, potentially weakening the country’s currency.
• Accommodative Monetary Policy Stance:
  • Meaning: Implemented to expand the money supply and boost the economy during a slowdown.
  • Also known as “easy monetary policy.”
  • Achieved by reducing interest rates to encourage borrowing and spending.
  • Aimed at stimulating consumer and business spending by making borrowing cheaper.
• Neutral Monetary Policy Stance:
  • Meaning: Policy rates neither stimulate nor restrain economic growth.
  • Economic conditions are considered balanced.
  • Key policy rates remain unchanged, with no increase or decrease.
  • Neither expansionary nor contractionary measures are implemented through taxation or government spending.

4. Looking beyond SMS

Subject: Science and tech

Sec: Awareness in IT

• Evolution of Digital Communications:
• The success of modern digital communications is largely attributed to the GSM (Global System for Mobile Communications) standard, evolving from 2G to the coveted 5G.
• Shortcomings of SMS:
• SMS (Short Message Service), born in 1992, revolutionized text messaging but remained frozen in time amid technological advancements.
• In today’s digital age, SMS is mainly used for service messages, lacking end-to-end encryption and robust security measures.
• Introduction of RCS (Rich Communication Services):
• GSMA established RCS as a unified messaging ecosystem, offering greater consistency, interoperability, and security.
• RCS represents a paradigm shift with features like high-resolution images, videos, group chats, and read receipts.
• Security Features of RCS:
• RCS offers end-to-end encryption and stringent security protocols, ensuring messages are shielded from interception and unauthorized access.
• Interoperability and Modernization:
• RCS maintains interoperability with traditional SMS and modern messaging systems, facilitating seamless communication across platforms and devices.
• Potential in India:
• India, with its digital ambitions and growing smartphone user base, can benefit from RCS adoption as a national standard.
• RCS can enhance communication networks’ efficiency and safeguard citizens’ privacy and security.
• Enterprise Services:
• RCS holds immense potential for enterprise services, offering businesses powerful tools for engaging with customers and streamlining communication processes.
• Features like branded messages, interactive experiences, and secure transactions empower businesses to forge deeper connections with their audience.
• Promise of RCS in India:
• RCS promises to usher in a new era of communication, innovation, and security in India, aligning with the country’s digital aspirations and enterprise needs.

5. Pulses Import Bill in FY24

Subject: Economy

Sec: External Sector

• Significant Increase:
• India’s pulses imports surged almost twofold to $3.74 billion in the fiscal year 2023-24 compared to the previous year.
• This drastic increase followed the government’s decision to remove restrictions on imports to enhance supplies and manage price inflation.
• Growth Figures:
• Pulses imports witnessed a remarkable 93% growth in dollar value, rising from $1.94 billion to $3.74 billion.
• In rupee terms, imports escalated by 97%, reaching ₹31,071 crore in 2023-24 compared to ₹15,780 crore in the previous fiscal.
• Reasons for Surge:
• The surge in imports can be attributed to the increased purchase of masur (lentils) and higher shipments of yellow peas.
• Duty-free imports of yellow peas were permitted until June 30, 2024, while duty-free imports of tur and urad were extended until March 31, 2025, to augment domestic supplies.
• Record Imports:
• Record-high prices of pulses like tur and urad in origins such as Myanmar and East Africa contributed to the significant import value in 2023-24.
• Lentil imports likely exceeded 16.11 lakh tonnes, urad imports stood around 6.16 lakh tonnes, and tur imports were approximately 7.70 lakh tonnes.
• Impact on Domestic Production:
• The erratic weather conditions, including deficit rains in various regions, adversely affected pulses output in 2023-24.
• Pulses production during the kharif 2023-24 season declined to 71.18 lakh tonnes from the previous year’s 76.21 lakh tonnes, while rabi pulses output decreased slightly to 163.24 lakh tonnes from 163.58 lakh tonnes.

6. India’s Push for Permanent Solution at WTO

Subject:  IR

Sec: Int Org

• Background:
• India seeks to revive discussions at the WTO regarding the longstanding issue of a permanent solution for public stockholding subsidies.
• The recent Ministerial Conference in Abu Dhabi failed to produce results, prompting India to renew its efforts.
• Revisiting Joint Proposal:
• India urged WTO members to reconsider the joint proposal made by G33-African Group-ACP Group on public stockholding.
• The proposal outlines an acceptable permanent solution, emphasizing the need for separate negotiations without linking them to discussions on domestic support.
• Disappointment Over MC13 Outcome:
• India urged members to fulfill the mandate dating back to the 2013 Bali Ministerial Decision.
• Bali Interim Solution:
• The interim solution from the Bali Ministerial Decision offers a peace clause allowing developing nations to exceed WTO-prescribed subsidy limits without facing legal action.
• India invoked the peace clause for the fifth time last month due to breaching the subsidy limit on rice in 2022-23.
• Call for Permanent Solution:
• India and other developing nations advocate for a permanent solution due to importance of food security, highlighting the success of its public stockholding programs in feeding its large population and supporting poor farmers.
• Brazil’s Proposal and Reaction:
• Brazil proposed deferring the permanent solution until MC14 in 2026, suggesting a timeline and review process.
• This proposal faced opposition from various members, including the African Group, G33 developing members, and countries from the African, Pacific, and Caribbean regions.
• EU’s Position:
• While open to Brazil’s suggestion, the EU emphasized giving priority to issues such as trade-distorting domestic support and the unresolved matter of public stockholding.
• Caution from the US:
• The US urged all members to engage and compromise to break the stalemate.
• India reiterated its stance that a permanent solution for public stockholding should be achieved before addressing other agriculture pillars like domestic support and market access.

Public Stockholding at WTO:

The proposal aims to reform public stockholding by advocating for fair calculations of subsidies based on current external reference prices instead of outdated ones.

• Concept of Public Stockholding:
• Public stockholding programs are utilized by governments to procure, stockpile, and distribute food to those in need.
• While food security is a valid policy objective, some programs are viewed as distorting trade when governments purchase from farmers at fixed prices.
• Interim and Permanent Solutions:
• At the 2013 Bali Ministerial Conference, ministers agreed on an interim basis to not legally challenge public stockholding programs in developing countries, even if they breached agreed-upon subsidy limits.
• Negotiations for a permanent solution were also mandated at this conference and reaffirmed at the 2015 Nairobi Ministerial Conference.
• Issue with Current Rules:
• Under the Agreement on Agriculture (AoA), subsidies given to farmers are calculated based on the excess of Minimum Support Price (MSP) over the international price, known as External Reference Price (ERP).
• Amber Box Subsidy:
• The WTO’s AoA classifies domestic support into different categories, including the Aggregate Measurement of Support (AMS) or “amber box.”
• AMS includes both product-specific and non-product specific subsidies provided to agricultural producers.
• De Minimis Level of Support:
• Developing countries can provide AMS up to 10% of their agricultural GDP, while the limit is 5% for developed economies.
• This threshold is known as the de minimis level of support.
• Peace Clause:
• Agreed upon at the WTO’s Bali Ministerial meeting in 2013, the peace clause allows developing countries to exceed subsidy limits on food crops under certain conditions related to notifications on public stockholding programs and food security.

G33 –

The Africa Group and the G33 alliance, representing developing nations like India, stress the urgency of addressing food security concerns amidst the backdrop of the Covid-19 pandemic.

The G33, often referred to as the Friends of Special Products, is a coalition comprising 48 member nations, including India, China, and Indonesia.

Established before the 2003 Cancun ministerial conference, the group aims to safeguard the interests of developing countries, particularly in agriculture negotiations.

7. Report claims Nestle adds 2.7 g sugar in every serving of Cerelac in India: What does this mean for you?

Subject: Science and tech

Sec: Health

Context:

• According to a report by a Swiss NGO, Public Eye and International Baby Food Action Network (IBFAN),Global food and beverage giant Nestle sells baby products with higher sugar content in poorer south Asian (including India), African and Latin American countries as compared to markets in Europe.

More on news:

• Around 150 baby products sold in different counties were scrutinized for the report, which found them to contain sugar over and above international food safety guidelines.
• According to government officials, lab reports of the Indian samples will be sought from IBFAN and placed before the Food Safety and Standards Authority of India (FSSAI) for examination.
• The report claims that Nestle’s wheat-based product, Cerelac, for six-month babies, which is sold without any added sugars in the UK and Germany, contained 2.7 grams of added sugar per serving in India.

What are added sugars?

• Added sugars are sweetening agents such as syrups that are added in processed foods and beverages.
• This is considered to be more harmful than the naturally occurring sugars found in fruits and milk.
• Added sugars or free sugars are sugar carbohydrates (caloric sweeteners) added to food and beverages at some point before their consumption.
• These include added carbohydrates (monosaccharides and disaccharides), and more broadly, sugars naturally present in honey, syrup, fruit juices and fruit juice concentrates.
• They can take multiple chemical forms, including sucrose (table sugar), glucose (dextrose), and fructose.

Why are added sugars harmful?

• The WHO advises against the introduction of added sugars before the age of two years to prevent addictive eating habits. 
• This exposure can lead to weight gain, obesity and an increased risk of developing chronic diseases such as type 2 diabetes, heart disease and certain types of cancer later in life. 
• Additionally, high sugar consumption in infancy has been associated with an increased risk of dental caries (tooth decay) and poor nutrient intake, as sugary foods often displace more nutritious options in a child’s diet.

What do Indian guidelines say?

• They do not prescribe any upper limit for added sugars. 
• The regulations allow use of corn syrup and malt in cereal-based infant food. 
• It also allows the use of sucrose and fructose as a carbohydrate source, provided it makes up less than 20 percent of the carbohydrates in the food.

8. Shompen cast their vote for the first time

Subject: Geography

Sec: Human geo

Context:

• For the first time, members of the Shompen took part in the election process by casting their votes in the Andaman and Nicobar Lok Sabha constituency.

About Shompen Tribe:

• The Shompen are one of the most isolated tribes on Earth.
• They reside in the dense tropical rainforest of the Great Nicobar Island of Andaman and Nicobar group of Islands.
• They are one of the least studied Particularly Vulnerable Tribal Groups (PVTGs) in India.
• Though according to the Census (2011), the estimated population of Shompen is 229, the exact population of Shompen is unknown till today.
• Most of them are uncontacted, refusing all interactions with outsiders.
• They live in small groups, whose territories are identified by the rivers that criss-cross the rainforest.
• They are semi-nomadic hunter-gatherers, and their main sources of livelihood are hunting, gathering, fishing, and a little bit of horticultural activities in a rudimentary form.
  • Primarily, they used to hunt wild pig, python, monitor Lizard, crocodile, see turtle etc.
  • They collect a wide variety of forest plants, but their staple food is the pandanus fruit, which they call larop. 
• Shompen speak their own language, which has many dialects. Members of one band do not understand the dialect of the other.
• They are of short to medium stature, have a round or nearly broad head shape, narrow nose, a broad facial profile, and distinctly exhibit Mongoloid features such as light brown to yellow-brown skin and oblique eye features.
• Shompen have nuclear families comprising husband, wife, and their unmarried children.
  • A Shompen family is controlled by the eldest male member, who controls all activities of the women and kids.
  • Monogamy is the general rule, although polygamy is allowed too.

Other tribes of Andaman and Nicobar:

About Particularly Vulnerable Tribal Group (PVTG):

• In India, the tribal population makes up 8.6% of the total population.
• PVTGs are more vulnerable among the tribal groups. Due to this factor, more developed and assertive tribal groups take a major chunk of the tribal development funds because of which PVTGs need more funds directed for their development.
• In 1973, the Dhebar Commission created Primitive Tribal Groups (PTGs) as a separate category, which are less developed among the tribal groups. In 2006, the Government of India renamed the PTGs as PVTGs.
• In this context, in 1975, the Government of India initiated to identify the most vulnerable tribal groups as a separate category called PVTGs and declared 52 such groups, while in 1993 an additional 23 groups were added to the category, making it a total of 75 PVTGs out of 705 Scheduled Tribes.
• Among the 75 listed PVTG, the highest number is found in Odisha.

Characteristics of PVTGs:

• Population – stagnant/declining
• Technology – pre-agricultural
• Literacy Level – extremely low
• Economy – Subsistence level

9. Hainan Free Trade Port construction has gained momentum, says China

Subject: IR

Sec: Places in news

Context:

• Amid ongoing disputes in the South China Sea, Liu Xiaoming, Governor of Hainan province, announced significant progress in the development of the Hainan Free Trade Port (FTP).

Hainan Free Trade Port (HFTP):

• This initiative, launched six years ago by Chinese President Xi Jinping, aims to transform Hainan into China’s most open economic region by 2025 and a tropical version of Dubai by 2035.
• The FTP is designed to boost Hainan’s development through sectors like deep-sea technology, marine equipment manufacturing, and aquaculture.
• Additionally, Hainan is positioning itself as a key player in aerospace, benefiting from its geographical location.
• Recent developments include the completion of launch pads at China’s first commercial spacecraft launch site.
• These developments occur against the backdrop of heightened tensions between China and the Philippines over maritime disputes in the South China Sea, with both nations experiencing repeated naval confrontations.
• China has defended its actions and attributed regional tensions partly to the influence of external nations like the United States.

About Hainan province:

• Hainan is an island province in the People’s Republic of China, located in the South China Sea.
• It consists of the main Hainan Island and over 200 smaller islands spread across three archipelagos: Zhongsha, Xisha, and Nansha.
• The province is the southernmost part of China and its name, meaning “south of the sea,” refers to its location south of the Qiongzhou Strait, which separates it from the Chinese mainland’s Leizhou Peninsula.
• Hainan covers a total land area of 33,920 square kilometres, with the main island accounting for 32,900 square kilometres.
• Originally part of Guangdong province from 1950, Hainan became its own province in 1988 and was also designated as a special economic zone as part of China’s economic reform initiatives led by Deng Xiaoping.

What is the South China Sea dispute?

• Several countries claim various parts of the sea, and these claims often overlap.
• In particular, China’s sweeping claims – which include sovereignty claims over land parcels and their adjacent waters – have angered competing claimants like Vietnam, the Philippines, Taiwan, Malaysia and Brunei.
• Other countries have staked claims on islands and various zones in the sea, such as the Paracels and the Spratlys.
• Nine-dash line:
  • China claims by far the largest portion of territory in an area demarcated by its so-called “nine-dash line”.
  • The line comprises nine dashes, which extend hundreds of miles south and east from its most southerly province of Hainan.

10. Remote Indonesia volcano Mount Ruang erupts again

Subject: Geography

Sec: Physical geo

Context:

• Mount Ruang in North Sulawesi in Indonesia’s remote outer region erupted again on April 19, leading to significant volcanic activity including the emission of smoke and lava.
• The neighbouring island of Tagulandang.
•  b frequent seismic and volcanic events are largely due to its location along the Pacific “Ring of Fire.”

Mount Ruang:

• Ruang is the southernmost stratovolcano in the Sangihe Islands arc, North Sulawesi, Indonesia.
• It comprises an island 4 by 5 kilometres (2.5 mi × 3.1 mi) wide.
• The summit contains a partial lava dome and reaches some 725 metres (2,379 ft) in altitude. From its summit, Klabat’s peak in the south, that of Siau to the north, and Ternate to the east can all be seen.

Pyroclastic flow:

• Also known as a pyroclastic density current or a pyroclastic cloud.
• It is a fast-moving current of hot gas and volcanic matter (collectively known as tephra) that flows along the ground away from a volcano at average speeds of 100 km/h (30 m/s; 60 mph) but is capable of reaching speeds up to 700 km/h (190 m/s; 430 mph).
• The gases and tephra can reach temperatures of about 1,000 °C (1,800 °F).
• Pyroclastic flows are the most deadly of all volcanic hazards and are produced as a result of certain explosive eruptions; they normally touch the ground and hurtle downhill or spread laterally under gravity. Their speed depends upon the density of the current, the volcanic output rate, and the gradient of the slope.

11. Forests a national asset and major contributor to financial wealth: SC

Subject: Environment

Sec: Env Law

Context:

• The Supreme Court of India has emphasized in a recent judgment that forests are a crucial national asset, significantly contributing to the nation’s financial wealth. This decision arose from a case where the State of Telangana appealed a High Court ruling that allocated forest land to a private individual.

Details:

• This judgment is particularly significant in light of the controversial Forest Conservation (Amendment) Act of 2023, which has been criticized for potentially facilitating the commercial exploitation of forests and allowing for the regularization of encroachments in protected areas.
• The Act also exempts certain infrastructure projects from environmental clearance requirements.
• The court highlighted the economic importance of forests in terms of carbon credits and green accounting, noting that forests as carbon sinks can offer substantial financial value.
• For instance, India’s forests, containing about 24,000 million tonnes of CO2, are estimated to be worth approximately $120 billion or ₹6 lakh crores.
• The judgment further referenced a 2009 Ministry of Environment and Forests report, noting an increase in carbon stocks in Indian forests between 1995 and 2005, underscoring their growing role as a carbon sink and their contribution to mitigating climate change.

Climate Change:

• Justice Sundresh, in a recent judgment, underscored the critical role of forests in combating climate change and their significance in protecting the environment and the economy.
• Citing a 2022-2023 Reserve Bank of India report, the judgment highlighted the severe macroeconomic impacts of climate change, including altered rainfall patterns, which could reduce India’s GDP by 2.8% and adversely affect the living standards of nearly half the population by 2050.
• The judgment further noted projections from the RBI report that India could lose between 3% to 10% of its GDP annually by 2100 due to climate change.
• The RBI report describes a troubling future where climate change could lead to substantial job losses across all sectors, posing a grave threat to the nation’s overall future rather than just specific groups.

Why are forests critical to fighting the climate crisis? 

• Carbon Sinks: Forests are powerful carbon sinks, absorbing and storing about 7.6 billion metric tonnes of CO2 annually between 2001 and 2019, which helps mitigate climate change by removing greenhouse gases from the atmosphere.
• Emissions Reduction: The agriculture, forestry, and other land use (AFOLU) sector, largely through forests, can contribute up to 30% of the GHG emissions reductions needed to keep global warming below 2°C, according to the IPCC.
• Nature-Based Solutions: Forests are among the most effective natural solutions for climate recovery and adaptation but are threatened by human activities like deforestation, agricultural intensification, and urbanization.
• Vulnerability to Climate Change: Increasing global temperatures make forests more susceptible to drought, wildfires, pests, and diseases, compromising their ability to store carbon.
• Contribution to Global Emissions: Deforestation and forest degradation are significant sources of global greenhouse gas emissions, accounting for up to a fifth of the total.
• Holistic Management: Sustainable forest management, including preventing deforestation and promoting regrowth and landscape restoration, is crucial for reducing overall GHG emissions.
• Global Warming Threshold: To avoid surpassing the critical 2°C increase in global temperatures, it is essential to conserve, restore, and manage forests sustainably, recognizing their vital role in achieving climate goals.