6 May 2023

• Trade: India-UAE Comprehensive Economic Partnership Agreement hit 84 billion US dollars in bilateral trade in FY 2022-23.
• Environment: The Global Land Outlook report found that over 70 per cent of Earth's land has been altered from its natural state.
• Poverty: India has no official poverty estimates since 2011-12. Methodological disputes remain unresolved.
• Financial inclusion: Women hold 56 per cent of PMJDY accounts. The gender gap in account ownership fell from 17 per cent in 2011 to 6 per cent in 2017.
• Festivals: Vaisakh Purnima (Buddha Purnima) was observed on 5 May.

GS area: International Relations (Bilateral trade)

The Comprehensive Economic Partnership Agreement between India and the UAE was implemented in May 2022.

• Bilateral trade FY 2022-23: Reached 84 billion US dollars, a 16 per cent increase from 73 billion the previous year.
• UAE position: The UAE is India's third largest trading partner with a bilateral turnover of 68 billion US dollars in 2021.
• Five-year targets: Increase goods trade to over 100 billion US dollars and services trade to 15 billion US dollars.
• Coverage: The agreement covers 80 per cent of traded products, 11 service sectors, investment, intellectual property rights and digital trade.

Static linkage: Free trade agreements, India's trade policy (International Relations).

GS area: Environment

The Global Land Outlook report found that humans have breached 4 of 9 planetary boundaries.

• Boundaries breached: Climate change, biodiversity, land-use change and geochemical cycles.
• Land alteration: Over 70 per cent of Earth's land surface has been altered from its natural state.
• Food system impact: Food systems cause 80 per cent of global deforestation and consume 70 per cent of global freshwater. They are the primary driver of biodiversity loss.
• Investment case: Every dollar invested in land restoration returns 7 to 30 dollars. Total investment needed: about 300 billion US dollars annually by 2030.
• India's degraded land: 97.85 million hectares. India raised its restoration target to 26 million hectares by 2030.

Static linkage: Land degradation, planetary boundaries, biodiversity (Environment).

GS area: Economy (Social issues)

India has not published official poverty estimates since 2011-12, when 21.9 per cent of the population lived below the poverty line.

• NSO 2017-18 survey: The National Statistics Office conducted a consumption expenditure survey for 2017-18. The government did not release it after a data quality review. A new survey is underway.
• Private estimates: Range from 1.4 per cent to 35 per cent, depending on methodology and poverty line chosen.
• Measurement challenge: Differences arise from varying definitions of the poverty line and from using different consumption data sets.
• Significance: Without updated official data, the government cannot precisely target welfare schemes or measure their impact.

Static linkage: Poverty measurement, NSO, national statistics (Economy).

GS area: Economy, Social Justice

An analysis of financial inclusion data for women produced several prelims-relevant figures.

• PMJDY women accounts: Women hold 56 per cent of all Pradhan Mantri Jan Dhan Yojana accounts.
• Gender gap improvement: The gender gap in formal account ownership fell from 17 percentage points in 2011 to 6 percentage points in 2017.
• DBT transfers: Direct Benefit Transfer has cumulatively transferred 16.8 trillion rupees since 2013.
• PM Mudra Yojana: Provides collateral-free loans up to 1 million rupees. A key instrument for women micro-entrepreneurs.
• Remaining challenges: Rural inaccessibility, limited digital literacy, privacy concerns and collateral requirements for larger loans.

Static linkage: Financial inclusion, DBT, social security schemes (Economy/Social Justice).

GS area: History and Culture (Religion)

Vaisakh Purnima, observed on the full moon day in the Hindu month of Vaishakh, has triple significance in Buddhism.

• Three events: The birth of Siddhartha Gautama (564 BCE by one estimate), his attainment of enlightenment (Bodhi) and his Mahaparinirvana are all said to have occurred on this day.
• UN recognition: The UN recognised the day as the "Day of Vesak" in 1999.
• India's Buddhist circuit: India is developing a Buddhist circuit tourism route connecting major sites like Bodh Gaya, Sarnath, Kushinagar and Lumbini (Nepal).

Static linkage: Ancient Indian history, Buddhist sites (History/Art and Culture).

• Heat Index: The Heat Index combines air temperature and relative humidity to measure apparent temperature felt by the body. The India Meteorological Department planned to introduce a composite heat index in 2024. Heat waves in India increased 24 per cent between 2000-09 and 2010-19. Heat wave mortality increased by 62 per cent over the same period.
• PMLA expansion: Chartered accountants are now classified as "reporting entities" under the Prevention of Money Laundering Act if they manage client money. They must complete Know Your Company (KYC) processes. The change is part of India's preparation for the Financial Action Task Force evaluation.
• Kaladan Multimodal Transit Transport Project (KMTTP): Connects Kolkata to Sittwe Port in Myanmar via sea, then up the Kaladan River to Paletwa in Myanmar, and finally by road to Mizoram. Reduces the Kolkata to Sittwe distance by 1,328 kilometres. Sittwe port became operational in early 2024.