Note4Students
From UPSC perspective, the following things are important :
Prelims level: UN Human Right Council
Mains level: Paper 2- Crisis in Sri Lanka and contradictions in its polity
Context
Sri Lanka’s ruling Rajapaksa family is facing mounting public anger, calls for resignations and political defections amidst the island’s worst economic crisis in its post-independence history.
Reasons for the crisis
- 1] Overnight switch to organic farming and import ban on fertiliser: There was the decision to ban fertiliser imports and switch overnight to organic farming.
- The decision was reversed after sustained farmer protests but not before damage had already been done to crop yields.
- 2] Then, precious foreign exchange was wasted in propping up the rupee while imposing controls on key imports that led to shortages and price rise.
- 3] For several months, as the crisis deepened with rolling power-cuts and shortages of essentials, the government refused to seek IMF assistance.
- It has now relented on the IMF, but Sri Lanka’s economic distress has been prolonged and deepened by this indecision.
Contradictions in the Sri Lanka’s politics
- While the immediate causes of popular anger are explicable, the crisis also reveals a more enduring contradiction at the foundation of Sri Lanka’s politics.
- Sinhala nationalist-inspired policies: What this crisis shows is that Sinhala nationalist-inspired policies are no longer financially or politically viable.
- Hardline approach toward Tamils: The Rajapaksas first rode to power in September 2005 on the wave of Sinhala nationalist antipathy against the then-ongoing Norwegian-mediated peace process with the LTTE.
- Upon his election as president, Mahinda expanded the military and launched a full-frontal military offensive that ended with the LTTE’s total defeat and destruction in May 2009.
- After the war, instead of seeking a political settlement with the Tamils, Mahinda Rajapaksa unrolled a de-facto militarised siege of the Tamil-speaking areas and population.
- Assertive foreign policy: The hardline approach to the Tamils and their demands was also linked to a new, more assertive foreign policy.
- The government turned away the long-established pattern of alignments with Western states and India.
- Mistrust of India: There is a long-standing mistrust of India amongst Sinhala Buddhist nationalists who see it as the source of historic Tamil invasions.
- The Rajapaksas translated this sentiment into policy, pushing back against Indian attempts to forge closer economic ties and a constitutional settlement of the Tamil question.
- Ties with China: In place of these ties, the Rajapaksas ostentatiously set out to forge new alliances, principally with China.
- The Rajapaksas also bet on a new geo-political optimism.
- They believed that with China’s rise, Sri Lanka’s location on east-west trade lanes would become a prized asset.
- They were confident that in the global competition for power triggered by China’s rise, international actors would be compelled to seek Sri Lanka’s favour for fear of “losing” it to the other side.
- With this geo-political calculus in mind, they assuredly rebuffed Western and Indian demands.
- None of the great powers who were supposed to be competing for Sri Lanka’s favour have stepped up to offer a bailout, although the sums are quite small by global standards.
- The bid for total sovereign autonomy has crash-landed and yet the alternatives are also politically difficult.
More leverage to international actors
- The irony of Sri Lanka’s push for total sovereign autonomy is that it has given international actors more leverage than they had before.
- Going to the IMF will require concessions on human rights and good governance to secure preferential access to European markets.
- At the same time, Indian bilateral assistance has conditionalities on clearing controversial investments.
Way forward
- Push non-reversible changes: International actors who really want to help Sri Lanka should use this leverage to push for tangible and non-reversible changes in the treatment of Tamils and Muslims whatever leadership emerges in Colombo.
- Eemilitarisation and normalisation of relations with the Tamils and Muslims: The crisis can serve as a reality check for the Sinhala nationalist leadership and electorate. The model of economic and political governance they have pursued is unsustainable, and the alternatives must be faced.
- The most pressing of these is the demilitarisation and normalisation of relations with the Tamils and Muslims.
- Sinhala political attention can perhaps then be turned to the other pressing failures of governance that have brought Sri Lanka to this state.
Conclusion
The Rajapaksas may be the principal protagonists of this crisis but the underlying script they have followed is a Sinhala Buddhist one and until Sri Lanka finds a new script it cannot find peace or stability.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: BIMSTEC
Mains level: Paper 2- Key takeaways from BIMSTEC Summit
Context
The celebrations to mark the 25th year of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) have been accompanied by the announcement of several new initiatives.
Important outcome of BIMSTEC Summit
The summit had several important outcomes: Expanding the grouping’s agenda, deepening cooperation between the member countries and planning systematically for consistency and coherence.
1] Finalisation of charter
- The Bay of Bengal Community was launched in 1997. But its charter, finalised last week, was more than two decades in the making.
- The 20-page document adopted at the fifth BIMSTEC Summit articulates the purpose, principles and legal standing of the organisation.
- It also delineates the process to admit new members – this requires the consensus of the members.
- The emphasis on consensus is important, given the sensitivities of the member countries.
- One important provision in the charter is to keep regular meetings on track and provide enough scope to the BIMSTEC Permanent Working Committee to keep the process energised.
2] Development on connectivity issues
- Amongst the important decisions is the one related to the BIMSTEC Master Plan for Transport Connectivity.
- The region requires seamless connectivity through multi-modal channels that improve links within and amongst the member countries.
- These channels should be in sync with the regulatory frameworks of the member countries.
- There are proposals to extend the trilateral highway project between Thailand, Myanmar and India to Laos and Cambodia. Bangladesh, Bhutan and Nepal have also evinced interest in the project.
- Digitisation has enhanced cooperation in customs regulations and facilitated and improved cargo clearance procedures. All this will surely enhance investment linkages and improve regional trade.
3] A systemic approach to streamline the evolution of BIMSTEC.
- Establishing an Eminent Persons’ Group (EPG) for formulating a vision document for the region will help in articulating the aspirations of the collective.
- EPGs have been quite useful in the EU and ASEAN.
- For instance, the ASEAN-India Eminent Persons Group (AIEPG) was constituted in 2005 after the Eighth ASEAN-India Summit.
- Its recommendations still guide the grouping’s work.
- In 2011, the EU constituted an EPG to suggest a roadmap to address the challenges arising from the resurgence of intolerance and discrimination in Europe.
4] MoU for legal assistance and mutual cooperation
- The MoU for legal assistance in criminal matters and additional MoUs for mutual cooperation between diplomatic academics and training institutes would help in creating an ecosystem of deeper knowledge-related cooperation.
- The technology transfer facility proposed in Colombo is likely to augment these efforts.
India’s leading role
- India has promised $1 million to set up a Secretariat in Dhaka.
- India has identified several other areas where it will support the collective.
- Delhi will provide a $3 million grant to the BIMSTEC Centre for Weather and Climate, promote collaboration between industries and start-ups, and launch programmes that will help in the adoption of international standards and norms.
- Agricultural trade analysis: Delhi has also suggested a regional value chain based agricultural trade analysis – this will be conducted by the RIS.
- The Asian Development Bank and the New Delhi-based ICRIER have stewarded awareness programmes on trade facilitating measures in the member countries.
- Support to Sri Lanka and Nepal: The pandemic has created fresh challenges and aggravated old ones in the countries of the region, particularly Sri Lanka and Nepal.
- India’s support to these countries, especially in financial matters, could help in reducing undesirable external intervention in the region.
Way forward
- Need for FTA: The early completion of the regional free trade agreement could provide a fillip to the organisation’s efforts.
- Promote research on cultural and civilisation linkages: Besides economic links, the Bay of Bengal countries share a cultural and civilisational legacy.
- The role of institutions like Nalanda University in promoting research on cultural and civilisational linkages and improving the adoption of sustainable practices would be equally significant.
Conclusion
The collective’s fifth summit that concluded in Colombo showcased member nations’ resolve to facilitate connectivity and security and enhance the prosperity of the region.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: LAF corridor
Mains level: Paper 3- Monetary policy normalisation
Context
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday gave a surprise, with a formal start to policy normalisation. This was contrary to the predominant market expectations of a hold.
RBI on the path of policy normalisation
- Focus on target of 4% +/- 2%: While the MPC voted unanimously to remain accommodative, in a change of language, the focus would now be on “withdrawal of accommodation to ensure that (CPI) inflation remains within the target (of 4 per cent +/- 2 per cent) going forward”.
- Remember, the RBI had become a (flexible) inflation-targeting central bank since FY17, whose primary objective is price stability, that is, inflation management.
- The Liquidity Adjustment Facility (LAF) corridor was narrowed back to the conventional 0.25 percentage points from the earlier extraordinary pandemic widening in late March 2020.
- The cap of the erstwhile corridor was the repo rate and the floor was the reverse repo.
- Now, while the repo rate was held at 4.0 per cent and the latter at 3.35 per cent, the floor of the corridor was increased by 0.4 percentage points from 3.35 per cent.
- There was also a change in the monetary policy orientation, of which the stance is one component.
- The priority for monetary policy now is inflation, growth and financial stability, in that order.
Reasons for unexpected tightening of policy
- Inflation concerns: Despite uncertainty over growth impulses and demand concentrated at the upper-income level households, inflation has increasingly emerged as a big concern.
- Given that inflation is likely to average 6.1 per cent in Q4 of FY22, this increases the risk of inflation remaining above the 6 per cent upper target for three consecutive quarters, necessitating an explanation to the government by the MPC.
- One comforting aspect of this scenario is that household inflation expectations remain anchored, with the median of three months to one year ahead expectations (as of March ’22) rising by only 0.1 percentage points from the earlier January readings.
- Stabilisation of demand: On demand conditions, the RBI scaled-down the FY23 real GDP growth projection to 7.2 per cent (from 7.8 per cent), indicating that a combination of continuing supply dislocations, slowing global economy and trade, high prices and financial markets volatility are likely to take a toll.
- One possible reconciliation with modest GDP growth is continuing weakness in services, which is also borne out by channel checks.
- Certainly, continuing high inflation is likely to lead to some demand destruction, which will act as an automatic stabiliser.
- A relatively loose fiscal policy is likely to offset some of this reduced demand, particularly with continuing subsidies to lower-income households.
- Financial stability: This has multiple dimensions – interest and foreign exchange rates, market volatility, banking sector asset stress, and so on.
- An important objective for the RBI is the management of money supply and system liquidity.
- In a rising rate cycle, with a large borrowing programme of the Centre and state governments, interest rates on sovereign bonds are likely to increase without a measure of support from the RBI through Open Market Operations (OMOs).
- This will entail injecting more liquidity into an already large surplus, which might add to inflationary pressures.
- The introduction of the overnight Standing Deposit Facility (SDF) was a significant measure in this context.
- Unlike the reverse repo facility, the RBI will not need to give banks government bonds as collateral against the funds they deposit.
- This is thus a more flexible instrument should a shortage of government bonds in RBI holdings actually transpire under some eventuality, say the need to absorb large capital inflows post a bond index inclusion.
What are the implications?
- Interest rates will begin to increase but, for bank borrowers, this is likely to be a very gradual process.
- For corporates and other wholesale borrowers, who also borrow from bond markets, this increase is likely to be faster as the surplus system liquidity is gradually drained.
- How this is likely to affect demand for credit is uncertain, given the capex push of the government, some revival of private sector investment and likely continuing demand for housing.
Conclusion
This cycle of policy tightening will present a particularly difficult mix of economic and financial trade-offs, but RBI has demonstrated the ability to innovatively use the multiple instruments at its disposal to ensure an orderly transition.
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Back2Basics: Liquidity Adjustment Facility corridor
- Liquidity adjustment facility (LAF) is a monetary policy tool which allows banks to borrow money through repurchase agreements or repos.
- LAF is used to aid banks in adjusting the day to day mismatches in liquidity (frictional liquidity deficit/surplus).
- The liquidity adjustment facility corridor is the excess of repo rate over reverse repo.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: FCRA
Mains level: Read the attached story
The Supreme Court upheld amendments introducing restrictions in the Foreign Contribution Regulation Act (FCRA) while holding that no one has a fundamental or absolute right to receive foreign contributions.
What is FCRA?
- The FCRA regulates foreign donations and ensures that such contributions do not adversely affect internal security.
- First enacted in 1976, it was amended in 2010 when a slew of new measures was adopted to regulate foreign donations.
- The FCRA is applicable to all associations, groups and NGOs which intend to receive foreign donations.
- It is mandatory for all such NGOs to register themselves under the FCRA.
- The registration is initially valid for five years and it can be renewed subsequently if they comply with all norms.
Why was FCRA enacted?
- The FCRA sought to consolidate the acceptance and utilisation of foreign contribution or foreign hospitality by individuals, associations or companies.
- It sought to prohibit such contributions from being used for activities detrimental to national interest.
What was the recent Amendment?
- The FCRA was amended in September 2020 to introduce some new restrictions.
- The Government says it did so because it found that many recipients were wanting in compliance with provisions relating to filing of annual returns and maintenance of accounts.
- Many did not utilise the funds received for the intended objectives.
- It claimed that the annual inflow as foreign contributions almost doubled between 2010 and 2019.
- The FCRA registration of 19,000 organisations was cancelled and, in some cases, prosecution was also initiated.
How has the law changed?
There are at least three major changes that NGOs find too restrictive.
- Prohibition of fund transfer: An amendment to Section 7 of the Act completely prohibits the transfer of foreign funds received by an organisation to any other individual or association.
- Directed and single bank account: Another amendment mandates that every person (or association) granted a certificate or prior permission to receive overseas funds must open an FCRA bank account in a designated branch of the SBI in New Delhi.
- Utilization of funds: Fund All foreign funds should be received only in this account and none other. However, the recipients are allowed to open another FCRA bank account in any scheduled bank for utilisation.
- Shared information: The designated bank will inform authorities about any foreign remittance with details about its source and the manner in which it was received.
- Aadhaar mandate: In addition, the Government is also authorised to take the Aadhaar numbers of all the key functionaries of any organisation that applies for FCRA registration or for prior approval for receiving foreign funds.
- Cap on administrative expenditure: Another change is that the portion of the receipts allowed as administrative expenditure has been reduced from 50% to 20%.
What is the criticism against these changes?
- Arbitrary restrictions: NGOs questioning the law consider the prohibition on transfer arbitrary and too heavy a restriction.
- Non-sharing of funds: One of its consequences is that recipients cannot fund other organisations. When foreign help is received as material, it becomes impossible to share the aid.
- Irrationality of designated bank accounts: There is no rational link between designating a particular branch of a bank with the objective of preserving national interest.
- Un-ease of operation: Due to Delhi based bank account, it is also inconvenient as the NGOS might be operating elsewhere.
- Illogical narrative: ‘National security’ cannot be cited as a reason without adequate justification as observed by the Supreme Court in Pegasus Case.
What does the Government say?
- Zero tolerance against intervention: The amendments were necessary to prevent foreign state and non-state actors from interfering with the country’s polity and internal matters.
- Diversion of foreign funds: The changes are also needed to prevent malpractices by NGOs and diversion of foreign funds.
- Fund flow monitoring: The provision of having one designated bank for receiving foreign funds is aimed at making it easier to monitor the flow of funds.
- Ease of operation: The Government clarified that there was no need for anyone to come to Delhi to open the account as it can be done remotely.
What did the Supreme Court observed now?
- The apex court reasoned that unbridled inflow of foreign funds may destabilise the sovereignty of the nation.
- The petitioners have argued that the amendments suffered from the “vice of ambiguity, over-breadth or over-governance” and violated their fundamental rights.
- But the court countered that the amendments only provide a strict regulatory framework to moderate the inflow of foreign funds into the country.
- Free and uncontrolled inflow of foreign funds has the potential to impact the socio-economic structure and polity of the country.
- No one can be heard to claim a vested right to accept foreign donations, much less an absolute right, said the verdict.
Supreme Court’s assessment of Foreign Funds
- Philosophically, foreign contribution (donation) is akin to gratifying intoxicant replete with medicinal properties and may work like a nectar.
- However, it serves as a medicine so long as it is consumed (utilised) moderately and discreetly, for serving the larger cause of humanity.
- Otherwise, this artifice has the capability of inflicting pain, suffering and turmoil as being caused by the toxic substance (potent tool) — across the nation.
Way forward
- The court said charity could be found at home. NGOs could look within the country for donors.
- Fundamental rights have to give way in the larger public interest to the need to insulate the democratic polity from the “adverse influence of foreign contributions”.
- The third-world countries may welcome foreign donations, but it is open to a nation, which is committed and enduring to be self-reliant.
- An unregulated inflow of foreign donations would only indicate that the government was incapable of looking after its own affairs and needs of its citizens.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: Fortification of food
Mains level: Read the attached story
The Cabinet Committee on Economic Affairs has approved supply of fortified rice in all States and Union Territories (UTs) by 2024 in a phased manner.
What is the news?
- National Food Security Act (NFSA)
- Integrated Child Development Services (ICDS)
- Pradhan Mantri Poshan Shakti Nirman-PM POSHAN [erstwhile Mid-Day Meal Scheme (MDM)] and
- Other Welfare Schemes (OWS)
Phases of implementation
The following three phases are envisaged for full implementation of the initiative:
- Phase-I: Covering ICDS and PM POSHAN in India all over by March, 2022 which is under implementation.
- Phase-II: Phase I above plus TPDS and OWS in all Aspirational and High Burden Districts on stunting (total 291 districts) by March 2023.
- Phase-III: Phase II above plus covering the remaining districts of the country by March 2024.
What is Fortification?
- The Food Safety and Standards Authority of India (FSSAI) has explicitly defined fortification.
- It involves deliberate increasing of the content of essential micronutrients in a food so as to improve the nutritional quality of food and to provide public health benefit with minimal risk to health.
Types of food fortification
Food fortification can also be categorized according to the stage of addition:
- Commercial and industrial fortification (wheat flour, cornmeal, cooking oils)
- Biofortification (breeding crops to increase their nutritional value, which can include both conventional selective breeding, and genetic engineering)
- Home fortification (example: vitamin D drops)
How is fortification done for rice?
- Various technologies are available to add micronutrients to regular rice, such as coating, dusting, and ‘extrusion’.
- The last mentioned involves the production of fortified rice kernels (FRKs) from a mixture using an ‘extruder’ machine.
- It is considered to be the best technology for India.
- The fortified rice kernels are blended with regular rice to produce fortified rice.
How does the extrusion technology to produce FRK work?
- Dry rice flour is mixed with a premix of micronutrients, and water is added to this mixture.
- The mixture is passed through a twin-screw extruder with heating zones, which produces kernels similar in shape and size to rice.
- These kernels are dried, cooled, and packaged for use. FRK has a shelf life of at least 12 months.
- As per guidelines issued by the Ministry of Consumer Affairs, Food and Public Distribution, the shape and size of the fortified rice kernel should “resemble the normal milled rice as closely as possible”.
- According to the guidelines, the length and breadth of the grain should be 5 mm and 2.2 mm respectively.
But why does rice have to be fortified in the first place?
- India has very high levels of malnutrition among women and children.
- According to the Food Ministry, every second woman in the country is anaemic and every third child is stunted.
- Fortification of food is considered to be one of the most suitable methods to combat malnutrition.
- Rice is one of India’s staple foods, consumed by about two-thirds of the population. Per capita rice consumption in India is 6.8 kg per month.
- Therefore, fortifying rice with micronutrients is an option to supplement the diet of the poor.
What are the standards for fortification?
- Under the Ministry’s guidelines, 10 g of FRK must be blended with 1 kg of regular rice.
- According to FSSAI norms, 1 kg of fortified rice will contain the following: iron (28 mg-42.5 mg), folic acid (75-125 microgram), and vitamin B-12 (0.75-1.25 microgram).
- Rice may also be fortified with zinc (10 mg-15 mg), vitamin A (500-750 microgram RE), vitamin B-1 (1 mg-1.5 mg), vitamin B-2 (1.25 mg-1.75 mg), vitamin B-3 (12.5 mg-20 mg) and vitamin B-6 (1.5 mg-2.5 mg) per kg.
Does fortified rice have to be cooked differently?
- The cooking of fortified rice does not require any special procedure.
- The rice needs to be cleaned and washed in the normal way before cooking.
- After cooking, fortified rice retains the same physical properties and micronutrient levels as it had before cooking.
What is India’s capacity for fortification?
- At the time of the PM’s announcement last year, nearly 2,700 rice mills had installed blending units for the production of fortified rice.
- India’s blending capacity now stands at 13.67 lakh tonnes in 14 key states, according to figures provided by the Ministry.
- FRK production had increased rapidly from 7,250 tonnes to 60,000 tonnes within 2 years.
How can a beneficiary distinguish between fortified rice and regular rice?
- Fortified rice will be packed in jute bags with the logo (‘+F’) and the line “Fortified with Iron, Folic Acid, and Vitamin B12”.
Advantages offered
- Health: Fortified staple foods will contain natural or near-natural levels of micro-nutrients, which may not necessarily be the case with supplements.
- Taste: It provides nutrition without any change in the characteristics of food or the course of our meals.
- Nutrition: If consumed on a regular and frequent basis, fortified foods will maintain body stores of nutrients more efficiently and more effectively than will intermittently supplement.
- Economy: The overall costs of fortification are extremely low; the price increase is approximately 1 to 2 percent of the total food value.
- Society: It upholds everyone’s right to have access to safe and nutritious food, consistent with the right to adequate food and the fundamental right of everyone to be free from hunger
Issues with fortified food
- Against nature: Fortification and enrichment upset nature’s packaging. Our body does not absorb individual nutrients added to processed foods as efficiently compared to nutrients naturally occurring.
- Bioavailability: Supplements added to foods are less bioavailable. Bioavailability refers to the proportion of a nutrient your body is able to absorb and use.
- Immunity issues: They lack immune-boosting substances.
- Over-nutrition: Fortified foods and supplements can pose specific risks for people who are taking prescription medications, including decreased absorption of other micro-nutrients, treatment failure, and increased mortality risk.
Back2Basics: Public Distribution System (PDS)
- The PDS is an Indian food Security System established under the Ministry of Consumer Affairs, Food, and Public Distribution.
- PDS evolved as a system of management of scarcity through the distribution of food grains at affordable prices.
- PDS is operated under the joint responsibility of the Central and State Governments.
- The Central Government, through the Food Corporation of India (FCI), has assumed the responsibility for procurement, storage, transportation, and bulk allocation of food grains to the State Governments.
- The operational responsibilities including allocation within the State, identification of eligible families, issue of Ration Cards and supervision of the functioning of FPSs etc., rest with the State Governments.
- Under the PDS, presently the commodities namely wheat, rice, sugar, and kerosene are being allocated to the States/UTs for distribution.
- Some states/UTs also distribute additional items of mass consumption through PDS outlets such as pulses, edible oils, iodized salt, spices, etc.
Mid-Day Meal Scheme
- The Midday Meal Scheme is a school meal program in India designed to better the nutritional standing of school-age children nationwide.
- It is a wholesome freshly-cooked lunch served to children in government and government-aided schools in India.
- It supplies free lunches on working days for children in primary and upper primary classes in government, government-aided, local body, and alternate innovative education centers, Madarsa and Maqtabs.
- The program has undergone many changes since its launch in 1995.
- The Midday Meal Scheme is covered by the National Food Security Act, 2013.
The scheme aims to:
- avoid classroom hunger
- increase school enrolment
- increase school attendance
- improve socialization among castes
- address malnutrition
- empower women through employment
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From UPSC perspective, the following things are important :
Prelims level: Standing Deposit Facility (SDF)
Mains level: Major monetary policy decisions by RBI
The Reserve Bank of India (RBI) introduced the Standing Deposit Facility (SDF), an additional tool for absorbing liquidity, at an interest rate of 3.75 per cent.
What is SDF?
- In 2018, the amended Section 17 of the RBI Act empowered the Reserve Bank to introduce the SDF – an additional tool for absorbing liquidity without any collateral.
- By removing the binding collateral constraint on the RBI, the SDF strengthens the operating framework of monetary policy.
- The SDF is also a financial stability tool in addition to its role in liquidity management.
- The SDF will replace the fixed-rate reverse repo (FRRR) as the floor of the liquidity adjustment facility corridor.
- Both the standing facilities — the MSF (marginal standing facility) and the SDF will be available on all days of the week, throughout the year.
How it will operate?
- The main purpose of SDF is to reduce the excess liquidity of Rs 8.5 lakh crore in the system, and control inflation.
- The SDF rate will be 25 bps below the policy rate (Repo rate), and it will be applicable to overnight deposits at this stage.
- It would, however, retain the flexibility to absorb liquidity of longer tenors as and when the need arises, with appropriate pricing.
- The RBI’s plan is to restore the size of the liquidity surplus in the system to a level consistent with the prevailing stance of monetary policy.
Also read:
What is Reverse Repo Normalization?
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From UPSC perspective, the following things are important :
Prelims level: Guru Nabha Das Ji
Mains level: Bhakti Movement
Punjab government has announced gazetted holiday on the birth anniversary of Guru Nabha Dass, a 16th century saint, taking it out from list of restricted holidays.
Who was Guru Nabha Dass?
- Guru Nabha Dass was born on April 8, 1537 at village Bhadrachalam on the bank of Godavari river in Khammam district, which falls in the present day Telangana.
- He belonged to Mahasha also known as doom or dumna community, which is one of the Schedule Caste communities.
- Since childhood, orphaned Guru Nabha Dass, whose original name was Narayan Dass, had an inclination towards spirituality.
- Two religious gurus — Agar Dass and Keel Dass — who were passing through his village took the orphan child to a temple at Ghalta Dham, which is now main pilgrimage of Nabhadassias, at Jaipur.
- People from this community are also known as Nabhadassias. They are known for making baskets and grain storage containers with bamboo.
His legacy
- Guru Nabha Dass wrote ‘Bhagatmal’ in 1585.
- It has the life history of around 200 saints. He died in 1643.
What is his connection with Punjab?
- Guru Nabha Dass used to visit village Pandori in Gurdaspur district where people of Doom community live.
- Some gurus of the community also used to live there.
What made government announce gazetted holiday now?
- Political parties can’t manage to ignore the sentiments of such a large community.
- The community had been requesting the government to declare April 8 as a gazetted holiday since long.
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