|CHINA'S GROWING CLOUT AT THE UN|
|GS-III||UN report on Lead content in paints|
|A FIX FOR GROWTH GAIN FROM FISCAL PAIN||Economic Issues|
World Lead Prevention Week started on October 20, 2019.
On the sidelines, the United Nations Environment Programme (UNEP) has released a report on lead concentration in items like paints.
90 ppm is the concentration limit recommended by the Model Law and Guidance for Regulating Lead Paint published by the UNEP in 2018.
It is the lowest and most protective regulatory limit for lead paints that has been set in India and some other countries.
Only 13 countries have laws which prescribe that lead concentration should not be more than 90 particles per million (ppm).
These 13 countries are part of 73 countries out of the UN’s 193 members, which, as of September 30, 2019, had confirmed that they had legally binding controls on lead in paint, according to the UNEP report.
The largest economic burden of lead exposure was borne by low- and middle-income countries.
Lead and it’s concentration:
Lead is added to paints for various reasons, including enhancing the colour, reducing corrosion and decreasing the drying time.
However, lead can reach soil, dust and groundwater through weathering or peeling of the patin.
Lead exposure accounted for 1.06 million deaths from long-term effects and 24.4 million disability adjusted life years known as DALYs in 2007.
Lead can cause permanent damage to the brain and nervous system, resulting in decreased IQ and increased behavioural problems.
It can also cause anaemia, increase the risk of kidney damage and hypertension, and impair reproductive function.
Young children and pregnant women (whose developing foetus can be exposed) are especially vulnerable to the adverse effects of lead. Even relatively low levels of exposure can cause serious and irreversible neurological damage.
The cost of eliminating the use of lead compounds in decorative paint is much lower than removing these paints from surfaces in homes.
By contrast, the economic cost is low for eliminating the use of lead compounds in new decorative paints. In fact, many manufacturers have already successfully reformulated their paint products to avoid the intentional addition of lead.
According to the paint industry, the reformulation of residential and decorative paints to eliminate lead additives is feasible, and the technical and cost impacts are manageable.
Hence, there is a need to establish laws and informing people about the hazardous effects of lead in paints remained key measures to curb its growing menace.
Source: THE HINDU
With euphoria over the corporate tax cut fading, the government needs to address fundamental to the economy.
Advantaged of corporate tax rate cuts:
# Increase in FDI in the Indian economy
# Solution to twin balance sheet problem
# Attractive Indian market in the background of US-China trade wars
# Stimulus to Make in India
# Stock market going bullish
# Incrase in private investment and increase in employment opportunities
Demerits of corporate tax rate cuts :
1. Loss of around 1.5 lack crores to the Government.
2. Decrease in the welfare activities of government.
3. Less funding to MGNREGA.
4. Corporate sector in India is not the major driver of economic growth.
How to revive from economic depression?
The major drivers of growth in India are Agriculture and its allied sectors and MSME sector. Agriculture supports the livelihoods of around 50% population and also is important for food security.
So some of the steps can be :
1. Constitute 'fund of funds to fund venture capital to MSMEs and also constitute credit guarantee fund.
2. Promote Agriculture entrepreneurship through Agri Udaan .
3. Rashtriya Gokul Mission and Animal Husbandry to promote Dry land area agriculture.
4. Infrastructure development like schools, health centres, bridges, roads ,etc.
5. Funding to MGNREGA to boost the rural demand.
6. Skill Development through PMKVY, NSDC, NSQF, etc.
If these can be implemented speedily and efficiently, then we could pull the sagging economy out of quagmire , especially in the near term and hopefully incentivize and facilitate the much-anticipated spurt in corporate investment which apparently the government was aiming at while announcing the tax bonanza.
Source: THE HINDU
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