According to the World Competitiveness Yearbook (WCY), India maintained 43rd rank on the annual World Competitiveness Index.
The World Competitiveness Index is a comprehensive annual report on the competitiveness of countries.
Compiled by: Institute for Management Development (IMD).
It examined the impact of COVID-19 on economies around the world this year.
It measures the prosperity and competitiveness of countries by examining four factors (334 competitiveness criteria):
Economic performance
Government efficiency
Business efficiency
Infrastructure
Key analysis by the report
Many Countries succeeded in transitioning to a remote work routine while also allowing remote learning.
Addressing unemployment has been fundamental.
Rankings
Top countries: Switzerland (1st), Sweden (2nd), Denmark (3rd), the Netherlands (4th).
The top-performing Asian economies: Singapore (5th), Hong Kong (7th), Taiwan (8th) and China (16th).
India’s Performance
India has maintained its position for the past three years.
This year, it had significant improvements in government efficiency
India performed better in investments in telecoms (1st), mobile telephone costs (1st), ICT services exports (3rd), remuneration in services professions (4th) and terms of trade index (5th).
India’s Performance was worst in broadband subscribers (64th), exposure to particulate pollution (64th), human development index (64th), GDP per capita (63rd)
Recent Steps Taken by India to Increase its Competitiveness
The Inland Waterways Authority of India (IWAI) is implementing the Jal Marg Vikas Project (JMVP) for capacity augmentation of navigation on the Haldia-Varanasi stretch of Ganga (part of NW-1) with the technical and financial assistance of the World Bank.
The Ministry of Home Affairs has operationalised the national Helpline 155260 and Reporting Platform for preventing financial loss due to cyber fraud.
Cyber Fraud is the crime committed via a computer with the intent to corrupt another individual’s personal and financial information stored online.
The National Helpline and Reporting Platform provides a mechanism for persons cheated in cyber frauds to report such cases to prevent loss of their hard earned money.
Also, a National Cyber Security Strategy 2020 is being formulated by the Office of National Cyber Security Coordinator at the National Security Council Secretariat.
About the initiative
The helpline has been made operational by the Indian Cyber Crime Coordination Centre (I4C), in coordination with the Reserve Bank of India, all major banks, payment banks, wallets and online merchants.
It has been developed by I4C to integrate Law Enforcement Agencies and Banks and Financial Intermediaries.
The facility empowers both the banks and the police.
Important value additions
Indian Cyber Crime Coordination Centre
The scheme to set up I4C was approved in October 2018.
It deals with all types of cybercrimes in a comprehensive and coordinated manner.
It has seven components:
National Cyber Crime Threat Analytics Unit
National Cyber Crime Reporting Portal
National Cyber Crime Training Centre
Cyber Crime Ecosystem Management Unit
National Cyber Crime Research and Innovation Centre
National Cyber Crime Forensic Laboratory Ecosystem
Platform for Joint Cyber Crime Investigation Team.
Location: New Delhi.
Other Initiatives to Tackle Cybercrime:
Draft Personal Data Protection Bill, 2018 to secure citizens data.
The Ministry of Culture (MoC) and Ministry of Ports, Shipping and Waterways (MoPSW) signed a Memorandum of Understanding (MoU) for ‘Cooperation in Development of National Maritime Heritage Complex (NMHC) at Lothal, Gujarat’
About Lothal
It is one of the prominent cities of the Ancient Indus Valley Civilization dating back to 2400 BC.
The cities to decide that will you theory of the Sabarmati in Gujarat close to the Gulf of Khambhat
A Dockyard has been found here where boats and ships came in from the sea and through the river.
Recently, a Chinese spaceship “Shenzhou-12” carrying a three-person crew docked with China’s new space station module Tianhe-1.
This has come after the launch of the Tianzhou-2 cargo spacecraft, which carried vital supplies for the space station.
China is the third country after the former Soviet Union and the United States to carry out a manned mission on its own.
It will help test technologies related to long-term astronaut-stays and health care, the recycling and life support system, the supply of space materials, extravehicular activities and operations, and in-orbit maintenance.
(Mains Focus)
ECONOMY/ GOVERNANCE
Topic:
GS-3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
Context: India has attracted highest ever total FDI inflow of U.S.$81.72 billion during the financial year 2020-21 (10% above FY2019-20). RBI reported that equity component of inflows was over U.S.$61.4 billion.
Positive
Rising FDI inflows into India is at times where Global FDI inflows in 2020 had declined by 42% over the level in 2019, and inflows to developing countries had fallen by 12%
Concerns
Jio Deal: Data shows that three Reliance Group companies together received U.S.$27.8 billion or, 54.1% of the total equity inflows during the three quarters of FY2020-21.
Concentration in distribution: Without the top five FDI deals, FDI inflows during 2020-21 would have declined by about a third of their level a year ago.
Lacks Creation of Productive assets: The nature of the bulk of the “investments” involved a mere transfer of shares without creating productive assets in the country. Thus, FDI can’t contribute much to the revival of economy.
Inadequate Investment in Manufacturing sector: This sector received just 17.4% of the total inflows during 2020-21 in contrast to Service sector attracting 80% of total inflows.
Conclusion
Going forward, the pipeline of FDI for 2021-22 could be supported by the thrust given to PLI and domestic growth prospects.
Context: This year is supposed to be the International Year for Elimination of Child Labour, whereby countries and networks come together in committing themselves to address the root causes of child labour.
Some of the root causes of Child Labour are
Poverty
Social marginalisation,
Lack of alternative or safe livelihoods for parents
Adequate child protection mechanisms
Lack of quality education.
Pandemic, Education and Child Labour
School Closures pushing Children into Labour: With 1.5 million schools closed for the last one year and more. In 2021, says UNESCO, 24 million children may not find their way back to schools after the pandemic. Any child who is not in school is a potential child labourer
Child Marriages: India witnessed an increase in the number of child marriages since 2020. Girls are further at risk – married off early, these child brides are also often child labourers. Save The Children puts half a million more girls at risk of early marriage
Abuse & Trafficking: Closure of schools and pandemic induced poverty has increased the vulnerability of children especially the girl child to abuse and trafficking
Reduced Education Budget: Despite knowing the impact of Pandemic on education system & thus on Children’s future, the Union budget has Rs 5,000 crore less to spend on education for children this year.
Way Ahead
There has to berelentlessly campaigns for
Increased allocation for education, at least 6% of GDP,
Better infrastructure in primary schools
Inclusion of breakfast along with mid-day meals
Remedial measures for loss of learning
Transfer of monies to vulnerable states and local governments on a priority basis.
