5 April 2023

• Monetary policy: RBI MPC wrapped up day three of its meeting; markets awaited the April 6 announcement. A pause at 6.5 per cent was the consensus forecast.
• S&T: India-related space and defence developments were tracked as the government pushed its new space policy framework ahead of its April 2023 notification.
• International: The OPEC+ production cut continued to affect global crude futures, with Brent holding above $83 per barrel.
• Environment: A parliamentary panel discussed the state of India's wetlands ahead of the Ramsar Wetlands Day cycle and ongoing classification efforts.

GS area: Science and Technology (Space), Economy

In late March and early April 2023 the government finalised the Indian Space Policy 2023, which was formally notified later in the month. The policy was extensively covered in this period as briefings emerged.

• Three-body architecture: The policy formalises a three-tier structure. ISRO focuses on research, development and technology transfer. NewSpace India Limited (NSIL) is the commercial arm responsible for industry-level production and launch services. IN-SPACe (Indian National Space Promotion and Authorisation Centre) acts as the single-window interface regulating private players.
• Private sector role: Non-Government Entities (NGEs) may build and operate satellites, establish ground stations, manufacture launch vehicles, and even participate in asteroid and space resource recovery. This is a significant opening from the earlier exclusively state-led model.
• Target: India aims to increase its share of the global space economy from around 2 per cent to 10 per cent by 2040. The global space economy is estimated at $550 billion.
• IN-SPACe: Established in 2020 under the Department of Space. It approves NGE activities, grants spectrum rights, and resolves disputes. Without IN-SPACe authorisation no private entity can undertake space activities.
• Concerns raised: Critics flagged that the policy did not explicitly address environmental impacts of satellite launches and debris, and that the resource allocation framework between ISRO and private entities needed clarity.

Static linkage: Space policy, ISRO, technology regulation.

GS area: Economy (International Trade, Multilateral institutions)

The World Trade Organisation's 2023 Global Trade Outlook released at this time projected global merchandise trade growth at 1.7 per cent for 2023.

• Why the slowdown: Higher interest rates across advanced economies dampened demand for traded goods. The Russia-Ukraine war disrupted commodity trade. China's reopening after COVID lockdowns was slower than expected.
• WTO and India: India's trade growth has outperformed the global average for several years. India is the seventh-largest exporter of commercial services globally. India's merchandise exports crossed $450 billion in FY 2022-23.
• The Appellate Body crisis: The WTO's dispute resolution system is effectively paralysed because the United States has blocked appointments to the Appellate Body since 2017. India and the EU co-operate on the Multi-Party Interim Appeal Arrangement as an alternative.
• India's FTP 2023 context: The new Foreign Trade Policy targets $2 trillion in exports (goods and services) by 2030, far exceeding the current base. The WTO's 1.7 per cent global growth forecast underlines that India must capture market share, not merely ride a global trade expansion.

Static linkage: WTO, India's trade policy, multilateral trade institutions.

GS area: Environment (Wetlands, Biodiversity)

Parliamentary discussions in early April highlighted India's progress under the Ramsar Convention on Wetlands.

• Ramsar Convention: Signed in Ramsar, Iran in 1971, it is the only global treaty dedicated to wetland conservation. It uses a "wise use" framework rather than prohibition.
• India's Ramsar sites: As of early 2023 India had 75 Ramsar sites, one of the highest numbers in Asia. The target is to add more sites under the government's wetland conservation programme.
• National Wetland Conservation Programme: Operated by the Ministry of Environment, Forest and Climate Change. It provides financial and technical support to state governments for wetland management.
• Why wetlands matter for prelims: Wetlands host 40 per cent of the world's biodiversity. India's wetlands include mangroves (Sundarbans), coastal lagoons (Chilika, the largest in Asia), high-altitude wetlands (Wular in J&K, Tsomgo in Sikkim) and inland lakes (Sambhar, India's largest saline lake in Rajasthan).
• Montreux Record: A list of Ramsar sites at risk. India has two sites on the Montreux Record: Keoladeo National Park (Rajasthan) and Loktak Lake (Manipur). Chilika Lake was removed from the record in 2002 after restoration.

Static linkage: Wetland ecology, biodiversity conservation, important wetlands in India.

GS area: Polity (Governance, Legislative), Economy

The Coastal Aquaculture Authority Amendment Bill introduced on April 4 is part of a broader programme of business law decriminalisation.

• Jan Vishwas Bill 2023: Passed in 2023, it amended 183 provisions across 42 Acts, replacing imprisonment with fines for technical and minor violations in areas like environment, food safety, patents and trademarks.
• The rationale: India ranked 63rd on the World Bank Ease of Doing Business Index before the index was discontinued in 2021. One of the biggest drags was the number of regulatory provisions carrying criminal penalties for violations that other countries treat administratively.
• Key distinction: Decriminalisation does not mean deregulation. Fines for violations may actually increase. The change is from court-based criminal processes to administrative penalty systems, which are faster and less disruptive to business.
• Constitutional angle: Under Articles 14 and 21, proportionality in penalties is a constitutional principle. Excessive criminalisation of regulatory offences has been flagged by the Supreme Court as a due process concern.

Static linkage: Ease of doing business, legislative reform, Jan Vishwas Act.

• Green Steel initiative: The Ministry of Steel announced 13 task force recommendations for transitioning to green steel, including hydrogen-based direct reduced iron technology to replace coking coal.
• Biotech-KISAN: The DBT-supported programme for farmer-scientist interaction in biotechnology had benefited over 1.6 lakh farmers between January and December 2022.
• IRENA figures: 83 per cent of new global power capacity added in 2022 came from renewables, with solar leading the additions. India was among the top five countries for new solar capacity.