What is the News ?

The revised guidelines were issued for the Prime Minister’s Development Initiative for the North East Region (PM-DevINE).

Facts About:

• PM-DevINE, was announced in the Union Budget 2022-23 to address development gaps in the North Eastern Region (NER).It was approved by the Cabinet for the remaining four years of the 15th Finance Commission from 2022-23 to 2025-26.
• The new Scheme is a Central Sector Scheme and will be implemented by the Ministry of Development of North Eastern Region (DoNER).
• The PM-DevINE Scheme will have an outlay of Rs.6,600 crore for the four year period from 2022-23 to 2025-26.
• An Empowered Inter-Ministerial Committee (EIMC) will be established, tasked with various functions under the scheme.

Objectives of PM-DevINE 

• Fund infrastructure convergently, in the spirit of PM Gati Shakti;
• Support social development projects based on felt needs of the NER;
• Enable livelihood activities for youth and women;
• Fill the development gaps in various sectors.

Functions of Empowered Inter-Ministerial Committee (EIMC)

• It assesses initial project proposals based on quality, viability, and socio-economic impact, working alongside representatives from relevant Indian Government Ministries/Departments and State Governments.It then recommends project selection from among these proposals.
• The EIMC proposes effective monitoring and evaluation methods, which may involve on-site inspections through third-party agencies. 
• The committee also devises mechanisms for the operation and maintenance of PM-DevINEprojects, aiming to ensure their sustainability.

Source: https://pib.gov.in/PressReleasePage.aspx?PRID=194206

What is the News ?

Recently, a new report ‘The Debt-Fossil Fuel Trap’,  was published by the anti-debt campaigners Debt Justice and partners.

Facts About:

Key Takeaways from ‘The Debt-Fossil Fuel Trap’ report:

• Debt-Reliant Economies and Fossil Fuel Dependence:Poor countries burdened with heavy debts are compelled to rely on fossil fuel revenue to repay loans borrowed from wealthier nations, multilateral creditors like the World Bank and IMF, or private lenders.

                  For Example: Argentina  has been supporting fracking projects in the Vaca Muerta oil and gas field in Northern Patagonia to generate revenues to ease the country’s debt crisis.                                                 Notably, the IMF has also backed these projects.

• Surging External Debt Payments in Global South:The external debt payments of Global South countries have surged by 150% between 2011 and 2023, reaching the highest levels in 25 years.
• Debt Crisis and Constrained Public Spending:Around 54 countries are facing a debt crisis, resulting in reduced public spending during the pandemic to meet loan repayment obligations.
• Climate Challenges Amplify Borrowing in Global South:Many of these indebted countries lack adequate resources for climate adaptation, mitigation, and addressing loss and damage, forcing them to borrow more money.
• Natural Disasters Escalate Debt-to-GDP Ratio:After events like natural disasters, countries can see their debt as a percentage of GDP rise significantly, such as Dominica’s experience after Hurricane Maria in 2017.
• Unfulfilled Pledges: Despite promises to discontinue investing in fossil fuels in Global South countries, richer nations and lenders continue to finance fossil fuel projects through loans, perpetuating fossil fuel production.
• Resource Backed Loans (RBLs):Resource backed loans (RBLs) are a mechanism through which repayment is tied to natural resources or future income streams derived from those resources.

Recommendations for a Sustainable Path Forward:

• Implementing ambitious debt cancellation for countries in need without economic conditions
• Rejecting repayments from fossil fuel projects.
• Aligning bilateral and multilateral finance with a 1.5-degree warming scenario while avoiding fossil fuel financing.

Source: https://indianexpress.com/article/explained/explained-global/rich-countries-force-poor-nations-rely-fossil-fuels-8904371/

What is the News ?

 India participated in the 20th ASEAN-India Economic Ministers’ Meeting.

Facts About:

• The 20th ASEAN-India Economic Ministers’ meeting was held in Semarang, Indonesia.
• The Economic Ministers or their representatives from all the 10  ASEAN countries viz. Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam participated in the meeting. 
• The Democratic Republic of Timor-Leste also joined the Meeting as an observer.
• The Ministers reviewed the bilateral trade and investment relations between India and ASEAN and underscored their commitment to strengthen and enhance the economic partnership between India and ASEAN to ensure that the ASEAN-India Comprehensive Strategic Partnership delivers meaningful benefits for both sides, particularly in the post-pandemic era. 
• The Ministers also interacted with the ASEAN-India Business Council (AIBC).
• The main agenda of this year’s meeting was the timely review of the ASEAN-India Trade in Goods Agreement (AITIGA) which was signed in 2009.
• India and ASEAN registered a bilateral trade of USD 131.5 billion in 2022-23. The trade with ASEAN accounted for 11.3% of India’s global trade in 2022-23.

ASEAN-India Trade in Goods Agreement (AITIGA):

• AITIGA is a trade deal between the ten member states of ASEAN and India.
• ASEAN and India signed the Agreement at the 7th ASEAN Economic Ministers-India Consultations in Bangkok, Thailand in 2009. The Agreement, which came into effect in 2010, is sometimes referred to as the ASEAN-India Free Trade Agreement.
• The Agreement has led to steadily increasing trade between ASEAN and India since its signing.
• The Agreement originated out of the Framework Agreement on Comprehensive Economic Cooperation between India and ASEAN created in 2003. 
• It covers trade in physical goods and products and not services trade.

                       ASEAN and India signed a separate ASEAN-India Trade in Services Agreement in 2014. 

                       Along with the ASEAN-India Investment Agreement, the three agreements collectively form the ASEAN-India Free Trade Area.

• Under the Agreement, ASEAN and India have committed to progressively eliminating duties on 76.4 percent of goods and to liberalize tariffs on over 90 percent of goods.

Source: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1950902#:~:text=Shri%20Rajesh%20Agrawal%2C%20Additional%20Secretary,%2C%20Minister%20of%20Trade%2C%20Indonesia.

What is the News ?

 The recent disqualification of Rahul Gandhi, based on his conviction and imprisonment in a defamation case, has brought attention to the legal complexities and implications associated with the disqualification of sitting legislators in India. The focus is on the Supreme Court's decision to strike down Section 8(4) of the Representation of People Act 1951.

Facts About:

Disqualification and Legal Framework:

• Instant Disqualification and Lily Thomas Case: The disqualification of Rahul Gandhi based on his conviction in a defamation case raised questions about the legal basis of instant disqualification for sitting legislators. The Supreme Court's judgment in Lily Thomas vs Union of India (2013) invalidated Section 8(4) of the Representation of People Act 1951, removing the three-month appeal window before disqualification took effect.
• Section 8(3) and Disqualification: With the removal of Section 8(4), only Section 8(3) remains, which stipulates that a person convicted and sentenced to imprisonment for at least two years shall be disqualified from the date of conviction. The wording does not explicitly indicate an immediate disqualification upon the court's pronouncement of guilt.
• Disqualification Authority and Presidential Role: The authority to declare a sitting legislator disqualified might lie with the President of India under Article 103. While the Supreme Court rejected this proposition in Lily Thomas, the Consumer Education & Research ... vs Union Of India & Ors (2009) held that the President's declaration is necessary for disqualification.

Legal Implications and Challenges:

• Staying of Sentence and Conviction: The question arises whether the stay of only sentence or the stay of conviction itself is required to lift the disqualification. Different High Courts have held differing views on this issue, adding complexity to the interpretation of disqualification.
• Quantum of Sentence and Disqualification: Disqualification hinges on the imprisonment term being two years or more. The recent case of Rahul Gandhi emphasized this connection, highlighting that the disqualification's trigger is the sentence length, not just the conviction itself.
• Career Impact and Urgent Attention: Instant disqualification can significantly affect legislators' careers, especially given the slow pace of appeals and legal proceedings. There's a need to address this issue urgently to ensure the stability of legislators' careers and prevent abrupt disqualifications.

Source: https://www.thehindu.com/opinion/lead/a-strong-case-to-restore-section-84-of-the-rp-act/article67224103.ece