Context:

• The Insurance Regulatory and Development Authority of India (IRDAI) claims that the proposed Bima Sugam is a “game changer” and a “UPI moment” for the insurance segment.

More on News:

• The Insurance Regulatory and Development Authority of India (IRDAI) has formed a steering committee to act as the apex decision-making body for the creation of its ambitious ‘Bima Sugam’ online platform.
• The service providers will be the technological partners for creating and running a platform to provide all the services in one place.

What is Insurance?

An insurance is a legal agreement between an insurer (insurance company) and an insured (individual), in which an insured receives financial protection from an insurer for the losses he may suffer under specific circumstances.

• Under an insurance policy, the insured needs to pay a regular amount of premiums to the insurer. 

Potential of Insurance Sector:

• According to a recent research report by Swiss Re, the Indian insurance industry is poised to become the sixth largest market by 2032. 
• The Indian Insurance market is expected to reach $200 BN by 2027.
• India is 9th largest Life Insurance Market globally.

Favorable Factors for growth of Insurance Sector in India: 

• Insurable Population: 68% of India’s population is young and 55% of its population is in the age group of 20-59 (working population) in the year 2020 and is estimated to reach 56% of the total population by 2025. 
• Wide middle-class expansion: By 2030, India will add 140 Mn middle-income and 21 Mn high-income households which will drive the demand and growth of the Indian insurance sector.
• Digital behavior patterns: Customers are now starting to prefer digital modes for their insurance needs – 73%/62% of customers preferred the online mode for GI/HI products (2020).
• Pandemic-related shift in demand patterns: The pandemic increased the insurance penetration rate and triggered awareness on insurance and demand for protection products, especially health insurance.
• Increasing disposable income: India has experienced significant economic growth in recent years, with per capita income rising by around 8% annually. As a result, more people are able to afford life insurance premiums and are actively seeking out coverage.

Government Initiatives:

• Ayushman Bharat (Pradhan Mantri Jan Arogya Yojana)  aims at providing a health cover of Rs. 5 lakh (US$ 6,075) per family per year for secondary and tertiary care hospitalization.
• The General Insurance Business Amendment bill (August 2021) allows the  privatization of the public sector insurance companies regulated under the 1972 Act.
• In 2015, the Indian government increased the Foreign Direct Investment (FDI) limit in the insurance sector from 26% to 49%, which has attracted foreign investment and expertise into the industry.

Challenge:

• Low Penetration: Low insurance penetration and density rates prevail in India. Rural participation of insurers remains deficient, and life insurers, especially private ones, gravitate towards the urban population, to the detriment of the rural population
  • For Example: The insurance penetration (ratio of total premium to GDP [gross domestic product]) and density (ratio of total premium to population) stood at 3.69% and US$ 73, respectively for FY18 (fiscal year 2017-18), which is low in comparison with global levels.
• Lack of Capital: Insurers in India lack sufficient capital, and their financial health, particularly that of the public-sector insurers, is in a precarious state.
  • For Example:  Among the public-sector general insurers, the financial situation of the ailing National Insurance Company is a cause for concern.
• Identification of prospective customers: As insurance is a ‘push’ rather than a ‘pull’ product, it is a big challenge for the companies to make their products meaningful to prospective customers.
• Lengthy Process of Settlement: In general insurance, for instance, many customers are discouraged from buying insurance due to the anticipated complexity involved in settlement of claims
• Limited Awareness and Education: Many Indians lack awareness and education about the importance and benefits of life insurance, which can make it challenging for insurers to penetrate the market.

Way Forward:

• De-jargonaise insurance products: Companies should simplify and de-jargonaise insurance products and design the benefits so as to suit the specific needs of policyholders.
• Transparency: A higher degree of transparency on policy terms will ensure that the customer understands the product and its benefits, minimizing fears of being cheated.
• Adoption of Digital Technology: Another area that necessitates regulatory scrutiny is that of application of technology in insurance.
  • For example: The emergence of ‘InsurTech’, designed to make the claim process simpler and more comprehensible.
•  Embracing Phygital Way: Despite the technological advancements, there is still a requirement for the human touch in the insurance industry. 
  • It is very evident that Phygital is the way forward as, in spite of technological advancements, the human interface will continue to play a big role in the penetration of insurance in the country.

News Source: The Indian Express

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PM Fasal Bima Yojana

Context: 

In the recently concluded Kharif season, the Pradhan Mantri Fasal Bima Yojana (PMFBY) saw a surge in farmer enrollment, reaching 25 million farmers.

• Of these, 44.5% (11.1 million) are non-loanees, indicating a growing voluntary acceptance of the scheme.
• This enrollment figure is the highest since 2018.

Expected Enrollment and Crop Coverage for 2023-24:

• It is estimated that in the fiscal year 2023-24, 37.5-40 million farmers may enroll in the scheme.
• Of these, 42-45% could be non-loanee farmers.
• The scheme is expected to cover 57.5-60 million hectares of land, an increase from 49.7 million hectares in 2022-23.

About PMFBY:

• Launched: 2016
• Administered by: Ministry of Agriculture and Farmers Welfare
• Eligibility: Farmers, including sharecroppers and tenant farmers, cultivating notified crops in designated areas
• Objectives: Provide insurance coverage and financial support in case of crop failure due to natural calamities, pests, or diseases.
• Premium Rates: Uniform premium rates: 2% for Kharif crops, 1.5% for Rabi crops.

Share of Women in Workforce 

Context: 

The government has introduced the Narishakti Vandan Adhiniyam to provide 33% reservation for women in the Lok Sabha and state assemblies.

• This effort aims to increase women’s representation in politics, addressing gender disparities in political participation compared to their declining participation in the economy.

Declining Female Labor Force Participation:

• India’s female labor force participation rate is just 24%, the lowest among G20 countries.
• In contrast, Australia, China, and Canada have rates exceeding 60%, while even BRICS peers like Brazil, South Africa, and Russia have rates over 50%.
• Female labor force participation rate measures the proportion of the population aged 15 and older who are either working or seeking employment.

Decline in Employed Women:

• Over the past seven years, the number of employed women in India has fallen by a third.
• In 2016-17, there were 68 million women in a labor pool of 446 million (15%).
• In FY23, there were 45 million women out of a total labor force of 439 million (10%).

Urban and Rural Disparities:

• In FY17, female labor participation was around 15% in both urban and rural India.
• By FY23, their share in the total workforce dropped to 7% in urban areas and 9.7% in rural regions.

Ownership of Assets:

• According to the National Family Health Survey (NFHS), female land ownership increased from 37% in 2015-16 to 42% in 2019-21.
• House ownership also increased from 28% to 32%, but these figures remain relatively low.

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Subject: GS-3 Environment

Context:

• A study conducted in collaboration with an online food delivery platform in China suggests that green nudges can be an effective way to tackle Environmental Problems.

What is Nudges Theory?

• In behavioral economics, nudges are interventions that influence people’s choices to make certain decisions without restricting the choices available to them.
• Nudge Theory:
  • This theory was developed in 2008 by economist Richard Thaler. He reasons that the concept of “nudging” means helping people have more self-control to make decisions.
  • It suggests placing small, practical stimuli or “nudges” to guide us toward the decision that benefits us the most in the long term.
  • He won the Nobel Prize in economics in 2017.

About Green Nudge:

• Green nudges are gentle persuasions to influence environment-friendly behavior in people.
• Green nudges are a relatively new policy tool, but they have been shown to be effective in changing people’s behavior and reducing negative environmental impacts.
• They are a promising way to promote sustainable development without relying on traditional command-and-control regulations.
• Nudge techniques: Public awareness campaigns, Social Norms Marketing, and Community-based Initiatives.

Green Nudges to Tackle Climate Change:

• • Green nudges are a promising way to tackle climate change by encouraging people to make choices that are good for themselves, their communities, and the planet.

  • Examples

    • UK: “The Big Switch Off” campaign to encourage people to turn off lights and appliances when not in use.
    • Netherlands: “Pay as you throw” policy for garbage collection.’
    • US: San Francisco plastic bag ban.

Green Nudge Underlies the LiFE mission:

• The idea promotes an environmentally conscious lifestyle that focuses on ‘mindful and deliberate utilization’ instead of ‘mindless and wasteful consumption’.
• The LiFE Movement aims to utilize the power of collective action and nudge individuals across the world to undertake simple climate-friendly actions in their daily lives.

Nudge in Governance: 

• Nudge policies are becoming increasingly popular in India as policymakers look for ways to promote positive social and economic change without resorting to traditional command-and-control regulations.
  • For example nudge policies used in programs such as Swachh Bharat Mission, GiveItUp campaign  and Beti Bachao Beti Padhao (BBBP), etc

Source: The Hindu

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Context: 

• Azerbaijan launched an operation against Nagorno-Karabakh and demanded surrender.

About Nagorno-Karabakh:

• Nagorno-Karabakh, known as Artsakh by Armenians, is a mountainous region at the southern end of the Karabakh mountain range, within Azerbaijan. 
• It is internationally recognised as part of Azerbaijan, but its inhabitants are predominantly ethnic Armenians. 
• They have their own government which is close to Armenia but not officially recognised by Armenia or any other country.

Strategic Significance:

• Several gas and oil pipelines across the Caucasus (the region between the Black Sea and the Caspian Sea) to Turkey and Europe are built by the energy-rich Azerbaijan
• The energy supplies would get affected in an event of full-blown war between the two countries.

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Context:

• India announced the expulsion of a Canadian diplomat after Canada asked an Indian official to leave that country, citing a “potential” Indian link to the killing of a Khalistani terrorist Hardeep Singh Nijjar 

More about the issue: 

• A parade was organized in Brampton, Ontario, ahead of the 39th anniversary of Operation Bluestar at the Golden Temple in Amritsar(June 1984)
• Brampton, which hosts Canada’s largest Sikh population, witnessed a “referendum” on Khalistan organized by the pro-Khalistan group ‘Sikhs for Justice (SFJ)’ last year. 
  • SFJ claimed that over 100,000 people expressed support for Khalistan during this event.
• The Indian government strongly criticized this activity and called on Canada to restrict anti-India activities.
• India also requested that the Canadian government designate individuals as terrorists if they had received such designations in India. 

About the Khalistan Movement: 

• Separatist Movement: It aims to create a separate sovereign state called Khalistan (Land of the Khalsa seeks their state in Punjab which includes both India and Pakistan.
• Roots in Partition: It has roots in the pre-partition negotiations of 1947 between India and Pakistan, which led to the division of the Punjab region between these two nations.

Rise of Khalistani Movement in the West:

• Integration with Sikh diaspora: Khalistani separatists integrated themselves into the existing Sikh diaspora in western countries (exist in the UK, the US, and Australia, it’s in Canada where the group has achieved the most integration and political influence.), claiming political persecution back in India.
• Support from non state actors: Pakistan provided support to the movement in the context of its ongoing proxy conflict with India.
• Establishment of Organizations: The supporters of Khalistan established various groups in order to gain legitimacy by organizing conferences, held referendums and to expanded their political  influence.
• Exploitation of Vote Bank: Control over diaspora gave the separatists an advantage of a ready-made vote bank they could exploit. 

Why is Canada becoming an international hub of the Anti-India movement as well as a safe haven for criminals?

• Sizeable Sikh Population:  Canada has the second largest Sikh population in the world after India. provide Khalistani leaders with significant sway over local politics and governing bodies.
• Becoming Hub of Separatists: Canada proved to be an ideal place (Liberalism, Human Rights and Free Speech) which provide an environment for anti-Indian Propoganda fueled by Pakistan ISI and Separatists.
• Political Compulsions of Justin Trudeau: Jagmeet Singh and his liberal New Democratic Party (NDP) has gained popularity in Canada’s current political landscape. 
  • During the 2019 Canadian federal elections, Justin Trudeau’s Liberal Party got 157 seats which was 13 seats less than the majority. 
  • To form the government, it had to seek support from the NDP led Jagmeet Singh Dhaliwal, a separatist whose visa was denied by the Indian government in 2013. 
• Attitude of Canadian Authorities: Canadian laws have so many loopholes that it is very easy for any criminal to pass through the eyes of Canadian authorities. 
  • Renowned separatist leaders including Khalistan Tiger Force Chief Harjeet Singh Nijjar, Arshdeep Singh Arsh, Gurpatwant Singh Pannu and many others are enjoying safe haven in Canada. 
• Deep entrenchment of drug cartels in Canadian Law enforcement agencies: Fugitives started channelizing the drugs coming from Afghanistan, America, and Latin America to their network in India & Europe with the help of Pakistan ISI. 
  • These cartels were established by Pakistan ISI in the nineties to fund the separatist movement in Indian Punjab. 

Security Implications for India:

• Exploitation by Non-state actors: Pakistan is facilitating cooperation between Sikh extremist groups and Pakistan-based Islamist organizations along with terrorist groups against India.
• Terror Financing: Money raised from the diaspora in the name of helping the needy are used to fund anti terror activities as well as anti-national elements
  • Crowdfunding through social media has emerged as a preferred tool for terror financing raising small amounts of money from a large number of individuals.
• Use of Social Media for Terrorist Propaganda: Social media is being used to spread terrorist propaganda, stream content and incite people to contribute to their cause.
  • Provoking speeches are delivered during religious congregations before the overseas Indian diaspora and the religious sentiments exploited
• Bane of Technology: Internet, deep-fake technologies proved a boon for anti-Indian elements to revive Khalistan narrative by propagating religious and fundamentalist agenda and circulating fake news.
  • Ex-during farmers agitation to instigate Punjab youth with the backing of Pak ISI.
  • The Khalistan supporters are widely active on social media, alluring the young Sikhs to join their movement. 
• Foreign Intervention and Criminal-Terrorists Nexus: Post-2015 there has been a rise in attempts to revive the militancy in Punjab, with most of the perpetrators based in Pakistan/western countries. 
  • Diaspora in the U.S.A, Canada, U.K. and other European countries were channeling funds and radicalising the youth in Punjab. 
• Narco- Terrorism: Since 2019, the ISI has been utilizing drones to deliver weapons and narcotics in border regions of Punjab and Jammu and Kashmir.
  • At least twelve drone-based shipments have been detected since September 2019.

Way Forward: 

• Diplomatic Measures to Counter anti-India Separatist Movements:
  • Convey to host countries that they cannot simultaneously have good relations with India while allowing anti-India separatist movements to operate on their soil.
  • Diplomatic channels, including high-level meetings, demarches, and public statements.
• Countering Khalistani Propaganda:
  • Through regular dialogue, cultural and educational exchanges, and other initiatives that promote understanding and trust between the diaspora and the Indian government.
• Reciprocal Arrangements with Canada, UK, and US.
  • This means that these countries should take steps to crack down on Khalistani activities on their soil, similar to the steps that India has taken to counter Islamic terrorist organizations like ISIS.
• Establish a Unified Command Centre in Punjab:
  • This center would involve the Intelligence Bureau (IB), Research and Analysis Wing (RAW), National Investigation Agency (NIA), Military Intelligence, and Punjab Police.
  • It would help in the immediate dissemination of information and a much quicker response from the concerned agencies.
• Devising a Mechanism for the Extradition and Deportation of Terrorist Operatives:
  • This can be done through bilateral treaties and other arrangements with the countries where these operatives are located.

News Source: Indian Express

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Subject: GS-3 Environment

Context:

• Leaders from around the world gathered on September 18, 2023, in New York, for the High-level Sustainable Development Goals (SDG) Summit and agreed to intensify their efforts to deliver SDGs by 2030.

Overview of Sustainable Development Goal Summit 2023:

• They endorsed a resolute political declaration at the summit held in New York from September 18-19, 2023, outlining their shared commitment to creating a sustainable and inclusive world by 2030.

Key outcomes of the Sustainable Development Goal Summit 2023:

• • Leaders acknowledged that the Sustainable Development Goal will not be achieved without making a quantum jump in investments to enable just and equal access to food, energy, digital transitions, a revolution in education and strong social security in developing nations.
    • For example: The annual SDG funding gap has risen from $2.5 trillion before the pandemic to an estimated $4.2 trillion.
  • They reiterated that the Addis Ababa Action Agenda is a crucial component of the 2030 Agenda and called for swift action to implement the UN Secretary-General’s proposal for an Sustainable Development Goal stimulus, which would significantly increase funding for SDG implementation by $500 billion annually.

• Discussion On Debt in Sustainable Development Goal Summit:

• • • Leaders called for strengthening multilateral actions and coordination by all creditors and urged for scaling up debt swaps for SDGs, including debt swaps for climate and nature.

• Discussion On climate in Sustainable Development Goal Summit:

• • • Leaders recognized that climate change is one of the greatest challenges of our time and remains a major threat to achieving the Sustainable Development Goals.
    • They recommitted to full implementation of the Paris Agreement and the Sendai Framework for Disaster Risk Reduction.
    • They made a commitment to stepping up climate change efforts and working on operationalizing the new finance arrangements for responding to loss and damage.

• Other Key Outcomes in Sustainable Development Goal summit:

• • Leaders called for an emergency course correction to hasten the world’s progress in achieving the Sustainable Development Goals.
  • They demanded a boost in multilateral and global cooperation to aid poor nations, particularly those in Africa, the Least Developed Countries, Landlocked Poor Countries and Small Island Developing States.
  • They recommitted to protecting everyone’s rights and well-being for a sustainable world.

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Subject: GS-1 – India and World Geography

Context:

• Agumbe in Shivamogga district of Karnataka had been christened as the ‘Cherrapunji of the South’ for receiving over 8,000 mm of rainfall during the monsoon.

More on News about Agumbe:

• Agumbe Rainforest Complex received its peak rainfall of 6,000 mm during the monsoon months of June and August. In the past two years, the peak monsoon rainfall has decreased (5,250-5,500 mm), causing Agumbe to lose its title to Nadpal, a town in Udupi district.
• The IMD predicted that India would receive less rain than usual this year, but the Western Ghats would receive more rain than usual. However, the monsoon stalled for over 22 days in August, which means that the Western Ghats received no rain at all.

About Agumbe Rainforest Complex:

• Agumbe Rainforest Complex (ARC) is a biodiversity hotspot located in the Western Ghats of Karnataka.
• It is known for its heavy rainfall, which can exceed 8,000 mm per year.
• The first rain gauge was installed in 1882 in Agumbe by the British.

Unique Features of the Agumbe Rainforest Complex:

• It is home to the world’s only natural habitat of the King Cobra.
• It is a biodiversity hotspot, with over 500 species of birds, 130 species of mammals, and 60 species of reptiles and amphibians.
• Agumbe Rainforest Complex is an important watershed for the region, feeding a number of rivers and streams.
• It is a popular tourist destination, known for its scenic beauty and its diverse wildlife.
• Threats to Agumbe Rainforest Complex: The ARC is also facing a number of threats, including climate change, deforestation, and poaching.

Source: DTE

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Subject: GS 03: S & T

Context:

• The Department of Science and Technology has proposed the constitution of a new Rashtriya Vigyan Puraskar — which will be the highest recognition in the field of science, technology, and innovation in India.

More on News about Rashtriya Vigyan Puraskar: 

• The Rashtriya Vigyan Puraskar awards replaced nearly 300 awards that were given by Scientific Ministries, though most of these were internal awards.
• Last year, an MHA (Ministry of Home Affairs)-constituted a committee proposed to do away with all the awards, and replace them with a “Nobel Prize-like” science award.

About Rashtriya Vigyan Puraskar:

• • A Rashtriya Vigyan Puraskar Committee (RVPC), constituted by the Science minister, and chaired by the Principal Scientific Advisor to the government, will recommend names for the award from the nominations placed before it.
  • The Rashtriya Vigyan Puraskar Committee will comprise secretaries of the six departments and related ministries — the Department of Science and Technology, the Department of Biotechnology, the Department of Scientific and Industrial Research, the Ministry of Earth Sciences, the Department of Space and the Department of Atomic Energy.
  • The Rashtriya Vigyan Puraskar Committee will also have six scientists and technologists from different fields of science and technology, along with four presidents of science and engineering academies.
  • Categories: There will be a total of 56 Rashtriya Vigyan Puraskar awards, comprising 3 Vigyan Ratna awards, 25 Vigyan Shri awards, 25 Vigyan Yuva-Shanti Swarup Bhatnagar awards, and 3 Vigyan Team awards.
  • Time Period: The awards will commence in 2024.
    • The awards will be announced annually on May 11, which is National Technology Day, and will be awarded on National Space Day, August 23.
  • Eligibility for Rashtriya Vigyan Puraskar: The awards will be open to Persons of Indian Origin (PIOs), with a maximum of one PIO eligible for the Vigyan Ratna award, and three PIOs each eligible for the Vigyan Shri and VY-SSB awards.
  • Nomination: It will also allow candidates to nominate themselves.
  • Conferment: The Rashtriya Vigyan Puraskar award will be conferred by the President of India or the Vice President.
  • Significance:The awards will be akin to the prestigious Padma awards, with no cash component; instead, awardees will receive a certificate and medallion.
    • However, the National Technology Awards, given to teams by the Technology Development Board (a DST entity), also include cash prizes worth ₹25 lakh.
  • The Rashtriya Vigyan Puraskar will be given in the following 13 domains: Physics, Chemistry, Biological Sciences, Mathematics and Computer Science, Earth Science, Medicine, Engineering Sciences, Agricultural Science, Environmental Science, Technology and Innovation, Atomic energy, Space Science and Technology.

Source: The Hindu

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