|GS-II||Liberalism into national populism.|
|GS-III||Spelling out the government’s RBI windfall||Economic Issues|
|Australia downgrade Great Barrier Reef to ‘very poor’ status|
GS-II: Liberalism into national populism
No country has found the golden mean between free-range liberalism and statism.
What is Liberalism?
Liberalism is one of the major political traditions of the Western world and the prevailing political ideology in the United States. Whereas classical liberalism emphasises the role of liberty and social liberalism focuses the importance of equality. Liberals adopt numerous views depending on their understanding of these principles, but generally they support ideas and programmes such as freedom of speech, freedom of the press, freedom of religion, free
markets, civil rights, democratic societies, secular governments, and international cooperation.
Concept of liberalism:
Elements of Liberalism:
The following are the main elements of liberalism—Individualism, freedom, constitutionalism and justice.
Source: The Hindu
GS-III: Spelling out the government’s RBI windfall
The transfer of Reserve Bank Of India surplus to the government in a routine manner.
Bimal Jalan committee Recommendations:
Economic Capital Framework
Every year RBI transfer the surplus to government:
What are the sources, RBI generate money?
A significant part comes from RBI’s operations in financial markets:
Normally, the money is transferred to the Consolidated Fund of India from which salaries and pensions to government employees are paid and interest payments done, besides spending on government programmes. The large pay-out can help the government cut back on planned borrowings and keep interest rates relatively low. Besides, it will provide space for private companies to raise money from markets. And if it manages to meet its revenue targets, the windfall gain can lead to a lower fiscal deficit.
Source: The Hindu
GS-III: Australia downgrade Great Barrier Reef to ‘very poor’ status
Australia’s Great Barrier Reef is in very poor condition because of climate change.
What is Coral Bleaching?
Bleaching occurs when abnormal environmental conditions, such as warmer sea temperatures, cause corals to expel tiny photosynthetic algae, draining them of their colour. Corals can recover if the water temperature drops and the algae are able to recolonise them.
About the Great barrier reef:
Why Great Barrier Reef Graded?
Global warming is destroying the Great Barrier Reef’s ability to recover from disasters and reducing its biodiversity by changing the species that live there. The decline is bad news for the reef’s long-term future. It is also changing the mix of coral species that replenish the reef, which will reduce the amount of suitable habitats for marine life. For the first time, recruitment of a group of weedy corals, known as brooding pocilloporids, outstripped spawning acroporids, a type of coral that is vital for giving a reef the three-dimensional complexity that many animals rely on. Losing some of that three-dimensionality means a loss of biodiversity, in coral species and other marine life.
The Great Barrier Reef can be seen from outer space and is the world’s biggest single structure made by living organisms. This reef structure is composed of and built by billions of tiny organisms, known as coral polyps. It was selected as a World Heritage Site in 1981.
Source: Indian Express
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