12 August 2023 : The Hindu Editorial Notes PDF
The Hindu Editorial
12-August-2023
Daily Current Affairs For UPSC ,The Hindu Editorial Summary
1. India needs a new economic policy
Topic: GS3 – Indian economy
Context
- The National Statistical Office (NSO) has released GDP fourth-quarter growth rate figures for 2022-23.
- The NSO data presents a gloomier picture than media publications by the Press Information Bureau.
More information about the news:
- Since 2015-16, the GDP growth rate has been declining annually and has fallen to around 3.5% in the fourth quarter.
- The term “Hindu Rate of Growth” has been used to describe the lower growth rate.
- The tenures of P.V. Narasimha Rao and Manmohan Singh saw GDP growth rates rise to 6% to 8% per year due to economic reforms.
- The Modi government has faced a continuous decline in GDP growth rates since 2016.
- Claims by the Prime Minister, like the $5 trillion GDP target by 2024, have been criticized for lacking coherent policy structuring.
- The growth rate decline in GDP has persisted despite rosy predictions and announcements about GDP in recent times.
Reasons for India to have new economic policy:
- Changing Global Dynamics: Adapt to evolving global trade and economic trends.
- Technological Advancements: Harness technology for innovation and productivity growth.
- Inclusive Development: Address income inequality and promote equitable wealth distribution.
- Employment Generation: Prioritize policies that create job opportunities for a growing population.
- Environmental Sustainability: Incorporate eco-friendly practices for long-term resource preservation.
- Trade Balance: Achieve a favorable trade balance and reduce dependency on imports.
- Industrial Revitalization: Promote domestic industries and manufacturing for self-reliance (Atmanirbhar Bharat).
- Resilience to Shocks: to survive global economic shocks such as Russia – Ukraine war, among others.
Steps to be taken:
- The writer emphasizes the need for a structured economic policy with clear objectives and priorities.
Following measures have been suggested by the author:
- Clear Objectives: Define economic goals and priorities.
- Strategy: Develop a coherent plan for implementation.
- Incentives: Encourage investment through tax reforms.
- Resource Mobilization: Utilize indirect taxes and strategic printing of currency for effective resource mobilisation and development.
- Interest Rates: Maintain attractive rates for savings and loans in key sectors such as MSME sector, service sector etc.
- Accountability: Demand transparency and responsible governance to reduce corruption and mismanagement of funds.
- Market Structure: Balance deregulation with safety nets and level-playing field.
- Democratic Empowerment: Ensure equitable access to social security and opportunities.
- Harmonious Society: Foster competition, transparency, and corporate governance for societal well-being.
Conclusion:
- In conclusion, a well-structured economic policy, combining incentives, deregulation, and safety nets, is imperative.
- It ensures growth, equity, and societal harmony, essential for a prosperous and transparent society.
Source: https://www.thehindu.com/opinion/op-ed/india-needs-a-new-economic-policy/article67185056.ece
2. Uncivil election campaign
Topic: GS2 – polity.
Context
- A video circulated on social media shows former President of USA Donald Trump attacking Chris Christie, a Republican rival for the 2024 election, using uncivil language.
Impact of uncivil election campaigns:
- Erosion of political discourse: Uncivil campaigns undermine constructive debate and discussion on important issues.
- Distrust in institutions: Uncivil behavior by candidates can lead to a loss of trust in political institutions and the electoral process.
- Negative impact on voter engagement: Uncivil campaigns can discourage voters from participating in the democratic process.
- Diminished policy focus: Focus on personal attacks shifts attention away from policy proposals and their potential impacts.
- Normalization of disrespectful behavior: Uncivil campaigns can normalize disrespectful and offensive behavior in public discourse.
- Disincentive for qualified candidates: Qualified candidates may be deterred from running due to the toxic nature of uncivil campaigns.
- International reputation: Such campaigns can damage a country’s international reputation by showcasing internal divisions and lack of decorum.
- Undermining democratic values: Uncivil campaigns undermine the principles of respect, tolerance, and open dialogue that are essential for a healthy democracy.
Way forward:
- Promote civility: Political parties and leaders should commit to maintaining a civil tone in their campaigns, focusing on policy discussions rather than personal attacks.
- Media responsibility: Media outlets should prioritize responsible reporting and avoid sensationalism that fuels negativity and divisiveness.
- Education and awareness: Civic education programs can help voters better understand the importance of respectful discourse and informed decision-making.
- Code of conduct: Enforceable codes of conduct for political campaigns can discourage uncivil behavior and establish consequences for violations.
- Role models: Highlight politicians who practice civility and engage in productive debates, setting examples for others to follow.
- Restoring trust: Efforts to improve the tone of election campaigns can help restore trust in the democratic process and rebuild confidence in political institutions.
Source: https://www.thehindu.com/opinion/op-ed/uncivil-election-campaign/article67181244.ece
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