Daily Mains Practice Questions 20-02-2023

KEY POINTS

·        Rising temperatures in parts of western and north India have once again raised concerns in certain quarters over the wheat crop, even as the Centre has predicted a record output of 112 million tonnes this season.

·        A study by Central Research Institute for Dryland Agriculture, an ICAR body, on ‘heat wave 2022’ says wheat yields fell 15-25 per cent last year.

·        Western disturbances, which bring rain and extend wintry conditions into February and March, were all but absent in 2022.

·        They are critical to keeping India’s weather and agriculture in balance. In their absence, a hot, high pressure ‘anti-cyclone’ from the Arabian desert sets in.

·        This year too, Western disturbances have been feeble. There is no immediate threat to crops as the nights have been cool this month, even as day temperatures have been above normal in northern, central and western regions.

·        An ICAR project has been working on heat-resistant varieties and other techniques in 151 climate-risk-prone village clusters in north and west India. One way to beat the heat, according to the pilot conducted last year, is to ensure that wheat is sown early.

·        There are indications that early sowing has picked up. But farm practices need to adapt to new climate realities.

KEY POINTS

·        Budget 2023-24 has announced two crucial schemes Digital Public Infrastructure for Agriculture (DPIA) and Agriculture Accelerator Fund (AAF)  for innovative start-ups in rural areas.

·        For DPIA to qualify as an open source, open standard interoperable public good, collective standardisation must be achieved; the network of links, interactions and mutual value among users should be standardised for synergy.

·        The network effect is a significant driver of the aggregated value of digital infrastructure. Its value increases as a diverse group utilises and leverages the infrastructure.

·        So, the government can work out the modalities to address equity, free-rider, and horizon problems that may emerge in DPIA in addition to digital divide.

·        Leveraging and developing synergies with the existing infrastructure of State Agricultural Universities and the Indian Council of Agricultural Research, tasked with public knowledge creators and disseminators, becomes essential.

·        Though India has exhibited prowess in information technology, attracting and retaining talent in the agricultural sector seems a persistent challenge. Reducing the budget for agricultural education does not bode well.

·        When the focus is on leveraging data and evidence for planning and decision-making, the curtailment of Budget allocations for institutions and universities is not a prudent decision.

·        To sum up, harnessing the potential of DPIA and AAF requires a holistic view supported by complementary interventions.

KEY POINTS

·        The successful debut of India’s sovereign green bond is a landmark event for its emerging sustainable finance ecosystem.

·        ESG-aligned investor base had raised scepticism about local investor appetite. The result shows that the market readiness for the green label exists and can be propelled with supportive regulatory/policy action.

·        The greenium could become more sizeable with larger volumes of local currency sovereign green issuances both in onshore and offshore markets.

·        The strategic co-benefits of sovereign issuance are bigger than the gains made on an individual issuance.

·        Transparency on the use of green bond resources for credible sustainable projects is vital. Budget 2023 carries the list of projects and expenditures which will be financed by the sovereign green borrowing.

·        Investors care for integrity and adhering to the best norms on evaluation and selection of projects is important.

·        To build on the success of the sovereign green bond in India’s G20 Presidency, here are two suggestions:

·        Foster a programme to grow local currency sovereign green issuances by emerging economies to avoid external debt traps and generate a larger pipeline of sustainable projects for national and global capital markets.

·        Define and label sustainable activities through interoperable frameworks/taxonomies to guide capital flows.

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