Content:
1. 30 People Drowned per Hour in 2021, Says WHO
2. Fractured Bonds Along the Border
3. Andhra Pradesh All Set to Get Skill-Tagged
4. SEBI Mulls Allowing Retail Investors in Algo Trading
30 People Drowned Per Hour In 2021, says WHO
Context : WHO released Global drowning statistics(2021)
Relevance : GS 2(Health)
Global Drowning Statistics (2021):
- 3,00,000 deaths (30 per hour).
- 92% occurred in low- and middle-income countries.
- South-East Asia (including India): 83,000 deaths (28% of global burden).
Impact on Vulnerable Groups:
- Children under 5: 24% of deaths.
- Age 5-14: 19% of deaths.
- Drowning is the 4th leading cause of death for children aged 1-4 and the 3rd leading cause for ages 5-14.
Progress and Disparities:
- Global deaths reduced by 38% since 2000.
- Europe: 68% decline; South-East Asia: 48% decline.
Underreporting:
- Natural disaster-related drowning (e.g., floods) and water transport accidents often excluded due to data gaps.
Challenges in Prevention
Limited Programs:
- Only 33% of countries train bystanders in rescue and resuscitation.
- Just 22% integrate swimming and water safety in schools.
Legislative Gaps:
- Existing laws insufficient to address the scale of the issue.
Data Deficiency:
- Poor quality and inconsistent data hinder effective action.
Implications for India
- High burden due to frequent flooding and lack of swimming skills.
- Poor and marginalized groups are disproportionately affected.
Recommendations
- Policy Initiatives: Strengthen laws and allocate funds for drowning prevention.
- Awareness and Training: Promote swimming and water safety education in schools.
- Train bystanders in rescue and resuscitation techniques.
- Infrastructure: Build safe water facilities, especially in vulnerable areas.
- Data and Research: Improve data collection and monitoring systems for drowning incidents.
Fractured Bonds Along the Border
Context: Tensions between India and Bangladesh over attacks on minorities and political shifts are disrupting cross-border ties, trade, tourism, and cultural exchanges, particularly affecting West Bengal.
Relevance :GS 2(International Relations)
Trade and Border Movement:
- Decline in Trade: Economic activities at the Petrapole-Benapole border are strained due to protests and threats of economic blockades.
- Infrastructure Upgrades: Union Home Minister emphasized improved trade infrastructure, boosting passenger capacity, though tensions have disrupted progress.
Impact on Tourism:
- Reduced Tourists: 90% of Bangladeshi tourists have stopped coming, affecting hotel occupancy in Kolkata’s “mini-Bangladesh.”
- Economic Losses: Hotels and travel agencies face severe downturns, with businesses operating at 5% capacity.
- Cultural Decline: Bangladeshi participation in events like the Kolkata Book Fair and Film Festival has significantly reduced.
Medical Tourism:
- Falling Numbers: Visa restrictions and tensions have reduced Bangladeshi medical tourists by 60-80%.
- Private Hospitals: Some continue to treat Bangladeshi patients, while others are rescheduling procedures due to low inflow.
Political and Social Ramifications:
- Protests: Multiple organisations like ISKCON and political parties have intensified protests, affecting cross-border relations.
- Cultural Backlash: Burning of goods and symbolic actions have deepened hostility, disrupting shared cultural ties.
Historical and Academic Concerns:
- Cultural Legacy: Shared heritage between Bengal and Bangladesh, represented by Tagore’s songs and shared language, is at risk.
- Academics’ Views: Concern over extremists gaining ground in Bangladesh and the impact on bilateral ties.
Border Dynamics:
- Security Heightened: Border Security Force deployed at zero line in Murshidabad.
- Transport Halted: Suspension of Bandhan and Maitree Express trains since July reflects the strain on connectivity.
Andhra Pradesh All Set to Get Skill-Tagged
Intro:
First-of-its-kind Census: Andhra Pradesh will launch India’s first statewide skill census in January 2025 to identify and map skill gaps and strengths.
Relevance: GS 2(Governance)
Pilot Success: The initiative builds on the pilot project conducted in Mangalagiri, covering over 1.12 lakh households and 2.77 lakh residents.
Objectives
- Skill Mapping: To classify and organize the workforce’s existing skills while identifying gaps.
- Addressing Unemployment: Targeting the youth unemployment rate, especially the 15-29 age group, which exceeds the national average (15.7% vs. 10%).
- Bridging Skill Gaps: Aligning existing skills with industry demands to enhance employability.
- Economic Development: Boosting job creation and improving the state’s economy through targeted interventions.
Implementation Details
- Demographic Coverage: Encompasses 3.5 crore working-age individuals (15-59 years) across 1.8 crore households.
- Dual Census Approach: Covers households and industries, including 33 lakh MSMEs and major industries in Andhra Pradesh.
- Enumerators: A workforce of 50,000 enumerators and 8,000 supervisors will carry out the project in bilingual formats to overcome language barriers.
- Skill ID: Post-survey, individuals will receive a Skill ID linked to their Aadhaar, offering access to skilling opportunities and a personalized skill profile.
Challenges
- Apprehensions Among Residents: Hesitation to share personal details and skepticism about the survey’s purpose.
- Surveyor Workload: Village secretariat staff juggling multiple government priorities alongside the census.
- Youth Dropouts: Over 1 lakh students drop out of mainstream education yearly, limiting the skilled labor pool.
- Gender Gap: Low female labor force participation in the 15-29 age group highlights the need for tailored programs for women.
Potential Outcomes
- Data Utilization: Accurate skill data will guide policy-making, vocational training, and job-oriented programs.
- Improved Employability: Focused skilling initiatives for youth and women to reduce unemployment and boost labor participation.
- Competency Mapping: Enables a structured classification of workforce skills akin to a “library of capabilities.”
- Economic Growth: Anticipated increase in job creation, enhanced workforce readiness, and alignment with industry demands.
Expert Opinions
- Academic Perspective: Experts emphasize the urgency to complete the census to tap into the graduating batch of 2024 with high employability potential.
- Student Feedback: Youth view the census as a transformative opportunity to align their skills with industry needs.
- Government Standpoint: Officials stress that the census will systematically address skill gaps, improving both individual and state-level prospects.
Significance
- Innovative Governance: A pioneering initiative to build a comprehensive database of workforce capabilities.
- Demographic Dividend: Leveraging Andhra Pradesh’s growing labor force to achieve sustainable economic growth.
- Holistic Approach: Combines traditional skill mapping (e.g., toddy-tapping) with modern sectors like cybersecurity and cloud technology.
SEBI Mulls Allowing Retail Investors In Algo Trading
Algorithmic Trading (Algo Trading): The use of computer algorithms to execute orders in financial markets at high speeds and volumes. These algorithms automatically place buy or sell orders based on pre-defined criteria.
Relevance: GS 3(Trade)
Purpose: To increase trading speed, efficiency, and precision, as well as to manage large volumes of trades.
Advantages:
- Faster Order Execution: Algorithms can process and execute orders in milliseconds, faster than human traders.
- Improved Liquidity: By providing continuous bids and offers, algos can help maintain market stability.
- Reduced Transaction Costs: Minimizes the market impact of trades by executing orders at optimal prices.
- Greater Transparency: Algorithms maintain detailed audit trails of trades, making it easier for regulators to track transactions.
- Risk Management: Allows for real-time risk assessment and control, such as setting price limits, stopping loss orders, and controlling order sizes.
Proposal by SEBI:
- SEBI has proposed enabling retail investors to participate in algorithmic trading.
- Aims to provide benefits like faster order execution and improved liquidity.
- Direct Market Access (DMA): SEBI introduced DMA for institutional investors, providing advantages such as faster execution, reduced costs, greater transparency, better audit trails, and improved liquidity.
- Limited Access: Initially, only institutional investors had access to these facilities.
Rationale Behind the Proposal:
- Filling the Gap: Proposal aims to fill the gap for retail investors wanting to trade using algos with added safeguards.
- Enhancing Market Efficiency and Transparency: Extending the framework with additional safeguards to allow retail participation.
Safeguards Proposed:
- Regulatory Adjustments: Extending the existing regulatory framework to retail investors with additional controls and oversight.
- Risk Management: Safeguards include restrictions on order sizes, required capital levels, and regular monitoring to prevent manipulation and protect investors.
Expected Impact:
- Wider Participation: Democratizes access to advanced trading tools for retail investors.
- Increased Liquidity: Boosts market liquidity.
- Consumer Protection: Ensures retail investors are protected from risks associated with high-frequency trading and algorithmic strategies.
Challenges:
- Monitoring and Oversight: Challenges in effectively monitoring retail participation and preventing abuses.
- Educating Investors: Importance of educating retail investors on the risks and mechanics of algorithmic trading for the proposal’s success.
