Context: According to the Parliamentary Standing Committee on Social Justice and Empowerment, the Union government has failed to accurately estimate the current population of Persons with Disabilities (PwDs) in the country.

About PwDs (Divyangjan):

• Rights of Persons with Disabilities Act, 2016 defines “Person with Benchmark Disability” as “A person with not less than 40% of a specified disability”.
• United Nations Convention on the Rights of Persons with Disabilities (UN CRPD) defines “Persons with disabilities include those people having long term physical, mental,  intellectual or  sensory impairments which in interaction with various barriers may hinder their full and effective participation in society on an equal basis with others“.
• According to the Indian Government, data on PwDs are largely taken from the decennial censuses and sample surveys on disability.
  • According to 2011 Census, the number of people with disabilities in India is close to 2.68 crore (or 2.2% of the population) — that is more than the entire population of Australia.
  • As per the National Statistics Office report 2021, about 2.2% of India’s population lives with some kind of physical or mental disability.
    • Rural men had the highest prevalence of disability in India.

Key Challenges Faced by PwD in India:

• Inadequate infrastructure: Many public buildings, spaces, and transportation systems in India are not designed to be accessible for PwDs. This includes lack of ramps, lifts, and accessible toilets.
• Poor implementation of accessibility guidelines: Although there are guidelines for making buildings and spaces accessible, they are often not implemented properly.
• Lack of assistive technology: Access to assistive technology, such as hearing aids and mobility aids, is limited in India, making it difficult for Divyangjan to perform daily tasks.
• Limited access to information and communication: Persons with visual and hearing impairments often face challenges in accessing information and communication due to the lack of Braille signage, sign language interpretation, and audio descriptions.
• Attitudinal barriers: They often face discrimination and stigma due to negative attitudes and stereotypes held by society. This can limit their opportunities and participation in society.

Initiatives Taken by Government to Support PwDs:

• Indian Constitution: Indian Government is under obligation to provide for better living conditions to PwDs in India under Indian Constitution.
  • Article 21: No person shall be deprived of his life or personal liberty except according to the procedure established by law.
• Rights of Persons with Disabilities Act, 2016: It is the disability legislation passed by the Indian Parliament to fulfil its obligation to the United Nations Convention on the Rights of Persons with Disabilities, which India ratified in 2007.

• Assistance to Disabled persons for purchasing / fitting of aids / appliances (ADIP) scheme: It is implemented through implementing agencies such as the NGOs, National Institutes under this Ministry and ALIMCO (a PSU).
  • Objective: To assist the needy disabled persons in procuring durable, sophisticated and scientifically manufactured, modern, standard aids and appliances that can promote their physical, social and psychological rehabilitation, by reducing the effects of disabilities and enhance their economic potential. 
• Unique Disability ID, or UDID: It would help create a national database for persons with disabilities, “encourage transparency, efficiency and ease of delivering the government benefits” and for “stream-lining the tracking of physical and financial progress” of beneficiaries at all levels.
• Accessible India Campaign (Sugamya Bharat Abhiyan): It aims to make public spaces, transportation, and information and communication technologies (ICT) accessible to PwDs.
• In the upcoming census, disability will be defined as per the Rights of Persons with Disabilities (or RPwD) Act of 2016.
  • Department of disability affairs is also in the process of creating a national database of PwDs, which will contain information on those with certificates issued by competent medical authorities.

Way Forward:

• Promoting inclusive education for children with disabilities in regular schools, and providing them with adequate support, resources, and training. This can help them develop their potential and skills, and integrate them into the society.
• Enhancing the accessibility of physical environment, transportation, information and communication, technology and services for persons with disabilities, and removing any barriers or obstacles that hinder their participation and inclusion.
• Increasing the opportunities and incentives for vocational training, skill development, self-employment, and formal employment for persons with disabilities, and ensuring non-discrimination and equal pay in the labor market.
• Providing social security benefits, healthcare services, insurance schemes, rehabilitation programs, and other welfare measures for persons with disabilities, and ensuring their affordability and quality.
• Raising awareness and sensitization among the public, media, government, civil society, and private sector about the rights, needs, abilities, and contributions of persons with disabilities, and challenging the negative stereotypes and stigma associated with disability.
• Encouraging the participation and representation of persons with disabilities and their organizations in decision-making processes at all levels, and ensuring their voice and choice in matters affecting them.
• Supporting research and innovation in the field of disability, and promoting the dissemination and exchange of best practices and knowledge on disability inclusion.
• Collaborating with State governments, using data from surveys they are conducting, consulting experts, and sensitizing surveyors of the Ministry of Statistics.
• Implementing and enforcing the existing laws and policies that protect the rights and interests of persons with disabilities, such as the Rights of Persons with Disabilities Act, 2016 and the Draft National Policy for Persons with Disabilities, 2022.

News Source: The Hindu

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Context: Recently, the Multi-State Cooperative Societies (Amendment) Bill, 2022, was passed by the Lok Sabha to amend the Multi-State Cooperative Societies (MSCS) Act, 2002

About Multi-State Cooperatives:

• Multi-State cooperatives are those which have operations in more than one State and are registered.
• • For example: Agriculture Development Cooperative Federation
• They are registered under the Multi-State Cooperative Societies Act of 2002 with the Central Registrar.
• The Board of Directors is from all the States these collectives operate in and controls all finances and administration functions.

Need of the Multi-State Cooperative Societies (Amendment) Bill, 2022 Bill:

• In Sync with the Constitutional (Ninety-Seventh) (Amendment) Act, 2011: Amendment to the Multi-State Cooperative Societies Act, 2002 is necessary to be in consistency with the Constitutional (Ninety-Seventh) (Amendment) Act, 2011.
• Plugging  Loopholes:  It  aims to  plug loopholes in the existing legislation and to strengthen governance in the Multi State Cooperative Societies , in accordance with the following Cooperative Principles, namely:
  • Voluntary and Open Membership; Democratic Member Control; Member’s Economic Participation; Autonomy and Independence; Education, Training and Information; Cooperation among Cooperatives; and Concern for Community. 
• Ease of Doing business: The Bill would expedite the registration process and ensure ease of doing business. 

Key Provisions of the Multi-State Cooperative Societies (Amendment) Bill, 2022 Bill:

Concern related to Bill:

• Reviving sick co-operative societies may burden profitable societies: The Bill is effectively imposing a cost on well-functioning co-operatives to bail out poorly functioning ones. 

Advantages of cooperative society:

• Democratic Management: A cooperative society is managed in a democratic manner. It is based on the principle of ‘one man one vote’. All members have equal rights and can have a voice in its management.
• Limited Liability: The liability of the members of a co-operative society is limited to the extent of capital contributed by them. They do not have to bear personal liability for the debts of the society.
• Stability: A co-operative society has a separate legal existence. It is not affected by the death, insolvency, lunacy or permanent incapacity of any of its members. 
• Easy to Form: A cooperative society is a voluntary association and may be formed with a minimum of ten adult members. Its registration is very simple and can be done without much legal formalities.
• Open Membership: Membership in a cooperative organization is open to all people having a common interest. A person can become a member at any time he likes and can leave the society at any time by returning his shares, without affecting its continuity.

Issues with the Cooperative Sector:

• Lax Corporate Governance: Poor standards of governance combined with political influence hinders their day-to-day functioning.
• Competition from Private Businesses: Private businesses often have more resources and can offer products and services at lower prices, which can make it difficult for cooperatives to compete.
• Lack of Skilled Management: Many cooperatives lack skilled management, which can hinder their effectiveness and efficiency.
• Limited government support for the cooperative sector has hindered its growth and development.
• Inadequate Professionalism:Often, cooperative societies lack skilled professionals who can handle financial and operational aspects effectively.
• Inadequate Technology Adoption: Many cooperative societies still rely on manual processes and outdated technology. 
• Market Competition: The cooperative sector faces competition from private and public entities, which may offer similar services.
• Rampant Corruption: Offering or accepting bribes to influence decisions or secure favourable treatment within the cooperative society is a common norm.

Way Forward:

• Local Factor: Cooperative societies should be formed while taking the local environment into account. 
• Abolition or Merger: The weak and inefficient cooperative societies should either be abolished or merged with strong and efficient ones
• Financial and technical assistance: The government could provide more financial and technical assistance to cooperatives to help them grow and thrive..
• More Access to financial resources: Cooperatives could be given greater access to financial resources, such as loans and grants, to help them grow and expand.   

News Source: The Hindu

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Context:

• The Resource Efficiency Circular Economy Industry Coalition (RECEIC) has been launched on the sidelines of the 4th G20 Environment and Climate Sustainability Working Group (ECSWG) and Environment and Climate Ministers meeting held in Chennai.

About the RECEIC:

• 39 multinational corporations (MNCs) from various sectors came together to pledge to adopt resource efficiency and circular economy principles to address environmental challenges rising from waste, including plastics, microplastics, e-waste, and chemical waste.

Significance: 

• Accessing Finance: RECEIC would promote alliances, technological cooperation, knowledge transfer, innovation, and knowledge sharing to improve access to finance.
• Fostering cooperation and coordination: RECEIC will serve as a broad platform that enables industries to address knowledge gaps and coordination issues among G20 members.

News Source: PIB

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Context:

• Jan Vishwas (Amendment of Provisions) Bill, 2023 has been passed by Lok Sabha in Parliament.

About the bill:

• Through The Jan Vishwas (Amendment of Provisions) Bill, 2023,  183 provisions are proposed to be decriminalized in  42 Central Acts.

Measures Proposed:

• Pragmatic revision of fines and penalties commensurate to the offense committed.
• Establishment of Adjudicating Officers.
• Establishment of Appellate Authorities.
• Periodic increase in quantum of fine and penalties.

Benefits of the Amendment Bill:

1. Rationalizing criminal provisions: It will contribute to rationalizing criminal provisions and ensuring that citizens, businesses and the government departments operate without fear of imprisonment for minor, technical or procedural defaults.
2. Balancing offense and punishment: It  establishes a balance between the severity of the offense/violation committed and the gravity of the prescribed punishment. 
3. Introduction of suitable administrative adjudication mechanisms: It  proposes administrative adjudication mechanisms to reduce justice system pressure, case pendency, and inefficiency in justice delivery.
4. Decriminalizing minor violations: Decriminalization of provisions which affect citizens and certain categories of government employees will help them live without the fear of imprisonment for minor violations.

News Source: PIB

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Context: 

The Union government has approved a scheme called the Guarantee Scheme for Corporate Debt (GSCD), which aims to provide complete guarantee cover for debt raised by the Corporate Debt Market Development Fund (CDMDF).

More on News:

• Guarantee Fund for Corporate Debt (GFCD) will manage the Guarantee Scheme for Corporate Debt (GSCD).
  • The GFCD will be a trust fund formed by the Department of Economic Affairs (DEA) and managed by the National Credit Guarantee Trustee Company Ltd (NCGTC).
    • NCGTC is a wholly-owned company of the Department of Financial Services under the Ministry of Finance.

About CDMDF: 

• CDMDF, an alternative investment fund, is a backstop facility for investment-grade corporate debt securities.
• Objective: To enhance secondary market liquidity, particularly during times of market stress.

Framework Release by SEBI: The Securities and Exchange Board of India (SEBI) has released a framework for the CDMDF, outlining the guidelines and regulations for its operation.

• Investment Guidelines: CDMDF will primarily deal in low-duration government securities (G-Secs), treasury bills, tri-party repo on G-Secs, and guaranteed corporate bond repo with a maturity not exceeding seven days during normal times.
• Purchase of Corporate Debt Securities: CDMDF will buy only investment-grade securities from the secondary markets, which are listed and have a residual maturity of up to five years. 
  • It will not purchase unlisted, below-investment-grade, defaulted debt securities, or those with a high risk of default or adverse credit news or views.
• Pricing Mechanism: CDMDF will buy these securities at a fair price, taking into account liquidity risk, interest rate risk, and credit risk. It will not buy distressed assets.
• Payment to Sellers: Sellers of debt securities to CDMDF will receive 90% of the consideration in cash and 10% in terms of units of CDMDF.
• Tenure and Launch of CDMDF: CDMDF will be launched as a close-ended scheme with an initial tenure of 15 years (extendable). 

News Source: The Indian Express

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Context: 

SEBI is reviewing delisting regulations for listed companies to prevent share manipulation in companies opting for delisting.

Delisting of Securities:

• Delisting means removing a listed company’s securities from a stock exchange.
• It can be voluntary (by the company) or compulsory (by the exchange as a penalty).
• For voluntary delisting, the company must buy back 90% of the issued shares.

Reverse Book-Building Process:

• The current process for delisting uses reverse book-building for price discovery.
• In this process, offers are collected from shareholders at various prices, determining the buyback price after the offer period.
• Issue with Reverse Book-Building:
  • Concerns have been raised about price manipulation during the delisting process.
  • Some entities accumulate shares to anticipate higher delisting prices, leading to unfair practices.

SEBI’s Review:

• SEBI is reviewing delisting regulations to address the issues raised with the current process.
• The regulator is considering a fixed price method as an alternative option for delisting companies.
  • In a Fixed price offer, the company specifies a fixed price at which it is willing to buy back shares from the public shareholders who wish to sell their shares.
• SEBI received recommendations from a committee headed by Keki Mistry and will seek stakeholder comments before finalizing changes.

Benefit of Fixed Price Method:

• Benefits depend on the specific methodology SEBI adopts for arriving at the fixed price.
• A holistic review will ensure a smoother process for promoters and shareholders.

News Source: The Indian Express

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Context: 

The parliamentary committee on Finance urges the government to finalize the digital competition bill to address anti-competitive practices in digital markets. 

More on News:

• Committee emphasizes the need to fill vacant positions at the Competition Commission of India (CCI) to ensure effective regulation.
• In December, the Committee recommended formation of Digital Competition Law, and defining Big Tech companies as Systemically Important Digital Intermediaries (SIDIs) on the basis of revenues, market capitalisation and end users.

Recommendations of Standing Committee on Finance:

• Introduction of Digital Competition Act: The government should introduce a Digital Competition Act to address the specific needs of the digital market and ensure a fair and transparent digital ecosystem.
• Strengthening the Role of CCI: The Competition Commission of India (CCI) should be empowered to address anti-competitive behavior in digital markets.
• Establishment of Specialized Digital Markets Unit: A specialized unit within CCI should be established to focus on digital markets.
  • Monitoring of SIDIs: The unit would monitor established and emerging Systemically Important Digital Intermediaries (SIDIs).
  • Recommendations on Designation: The unit would provide recommendations to the central government on designating SIDIs.
  • Reviewing Compliance: The unit would review compliance with digital market regulations.
  • Adjudication on Cases: The unit would adjudicate on cases related to digital markets.

About Big Tech Companies:

• Big Tech refers to a group of major technology companies like Google, Facebook, Amazon, Apple, and Microsoft. 
• It is a dynamic concept, with new companies entering and existing ones potentially leaving this category over time.

Anti-competitive practices by Big Tech:

• Acquisitions and Mergers: Large firms buying highly valued start-ups without being subject to merger control rules. The lack of capturing certain mergers and acquisitions due to thresholds not being met is a concern.
• Platform Neutrality/Self-preferencing: Big Tech favoring their own services or subsidiaries on their platforms, providing unfair advantages and negatively affecting downstream markets.
• Data Usage: Big Tech companies collecting massive amounts of customer data, potentially misusing it for tracking and profiling customers, creating barriers for smaller competitors.
• Restricting Third-Party Applications: Preventing the installation or operation of third-party applications, limiting user choice and competition.
• Adjacency/Bundling and Tying: Forcing consumers to buy related services by linking them to the main product, making it challenging for developers to establish fair fees and reducing competition.
• Anti-steering: Using provisions to prevent business users from using alternatives, stifling choice and leading to anti-competitive practices.
  • For example, application stores mandating the use of their own payment systems for application purchases.

News Source: The Livemint

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Context:

• The Niger military has detained the President and declared a ‘coup,’ resulting in the overthrow of the government.

About Niger:

• Niger, officially the Republic of Niger( Capital Niamey)is a landlocked country in West Africa.
• It is a unitary state bordered by Libya to the northeast, Chad to the east, Nigeria to the south, Benin and Burkina Faso to the southwest, Mali to the west, and Algeria to the northwest.

News Source: Indian Express 

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Context: 

The latest data available with the Ministry of Consumer Affairs, Food and Public Distribution shows that the state governments can identify 1.24 crore more beneficiaries under the National Food Security Act, 2013.

Key Points about NFSA:

• Scope of Beneficiaries: The NFSA aims to cover up to 75% of the rural population and up to 50% of the urban population, totaling around 81.35 crore persons.
• Current Beneficiaries: As of July 19, 2023, the states and UTs have identified 80.11 crore beneficiaries under NFSA.
• Additional Beneficiaries: There is scope to identify 1.24 crore more beneficiaries across 21 states and UTs.
• Entitlement: Eligible households receive 5 kilograms of foodgrains per person per month at subsidized prices specified in the schedule.
• Free Foodgrains: Under NFSA, eligible beneficiaries can buy foodgrains at subsidized rates—rice at Rs 3/kg, wheat at Rs 2/kg, and nutri-cereals at Rs 1/kg. 
  • Last year, The government decided to provide foodgrains free of cost to eligible households for a year.

News Source: The Indian Express

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