13 June 2024 : PIB Summary For UPSC

1. First Session of 18th Lok Sabha to be Held from 24th June to 3rd July, 2024

Topic: GS2 – Indian Polity

Context

The upcoming sessions of the 18th Lok Sabha and 264th Rajya Sabha mark the start of a new parliamentary term, with key proceedings including member oaths, the Speaker’s election, and the President’s address.

Analysis of the news:

• The first session of the 18th Lok Sabha is scheduled from June 24 to July 3, 2024.
• Newly elected Lok Sabha members will take their oaths/affirmations during this session.
• The session includes the election of the Speaker and an address by the Hon’ble President of India, followed by a discussion.
• Union Minister of Parliamentary Affairs, Shri Kiran Rijiju, shared this information on social media platform ‘X’ (formerly Twitter).
• The 264th session of the Rajya Sabha will start on June 27, 2024, and end on July 3, 2024.

More about parliamentary sessions in India:

Types of Sessions: The Indian Parliament typically holds three sessions each year – the Budget Session (February to May), the Monsoon Session (July to September), and the Winter Session (November to December). Budget Session: This is the longest session, beginning with the President’s address, followed by budget discussions, presentations, and passing of finance bills. Monsoon Session: Held in the rainy season, this session focuses on legislative business and policy discussions that might have arisen post-Budget Session. Winter Session: A shorter session primarily focused on legislative business, reviewing policies, and addressing urgent matters. Special Sessions: These can be convened by the President on the recommendation of the Cabinet to address specific or urgent issues. Parliamentary Business: Sessions involve debates, question hours, zero hours, passing of bills, and discussions on various national issues. Quorum: For the Lok Sabha, a quorum requires at least 10% of its members to be present; for the Rajya Sabha, the quorum is 25 members. Joint Sessions: Rarely held, these occur when there is a deadlock between the two houses on a bill, presided over by the Lok Sabha Speaker.

Practice Question:  Discuss the significance of the first session of a newly elected Lok Sabha in the context of Indian parliamentary democracy. (150 Words /10 marks)

(Source – https://pib.gov.in/PressReleseDetail.aspx?PRID=2024630 )

2. INDIA’S IIP RECORDS A GROWTH OF 5.0% IN THE FIRST MONTH OF THE FINANCIAL YEAR 2024-25

Topic: GS3 – Indian Economy

Context

The Quick Estimates of the Index of Industrial Production (IIP) for April 2024 indicate a 5.0% year-on-year growth, reflecting improvements across sectors, especially in electricity and infrastructure. This marks a slight increase from the 4.6% growth recorded in April 2023.

Analysis of the news:

• The Quick Estimates of the Index of Industrial Production (IIP) for April 2024 stand at 147.7, a rise from 140.7 in April 2023.
• Sector-wise indices for April 2024: Mining 130.8, Manufacturing 144.2, and Electricity 212.0.
• Use-based classification indices for April 2024: Primary Goods 152.2, Capital Goods 95.3, Intermediate Goods 156.9, Infrastructure/Construction Goods 183.3, Consumer Durables 118.7, and Consumer Non-durables 151.0.
• The overall IIP growth rate for April 2024 is 5.0%, compared to 4.6% in April 2023.
• Sectoral growth rates: Mining 6.7%, Manufacturing 3.9%, Electricity 10.2%.
• Top manufacturing contributors: Basic metals (8.1%), Coke and refined petroleum products (4.9%), Motor vehicles, trailers, and semi-trailers (11.4%).
• Use-based growth rates: Primary Goods 7.0%, Capital Goods 3.1%, Intermediate Goods 3.2%, Infrastructure/Construction Goods 8.0%, Consumer Durables 9.8%, Consumer Non-durables -2.4%.

Index of Industrial Production (IIP)

The Index of Industrial Production (IIP) is a key economic indicator that measures the performance of various industrial sectors in a country. It reflects changes in the production levels of the industrial sector over a specific period, providing insights into the overall economic activity.IIP is calculated based on the volume of production in sectors manufacturing, mining, and electricity. Eight core industries of IIP: Crude Oil: Weight: 8.98% Coal: Weight: 10.33% Natural Gas: Weight: 6.88% Petroleum Refinery Products: Weight: 28.04% Fertilizers: Weight: 2.63%Steel: Weight: 17.92% Cement: Weight: 5.37% Electricity: Weight: 19.85% The base year for the IIP is typically chosen to serve as a reference point for comparing production changes over time – the current base year for IIP is 2011-12 The index helps in assessing the growth or contraction of industrial output, aiding policymakers and investors in making informed decisions. It plays a crucial role in economic planning, policy formulation, and monitoring of industrial performance. A higher IIP indicates industrial growth, while a lower IIP suggests a decline in production. The IIP is often used by the government, researchers, and analysts to analyse trends and formulate strategies for economic development.

 (Source – https://pib.gov.in/PressReleseDetail.aspx?PRID=2024748 )