6 August 2024, The Indian EXPRESS
New Delhi needs to deal with new Dhaka: 5 challenges beyond 1971
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GS2- India and its neighborhood- relations
- India will need much political and diplomatic skill in dealing with the consequences of the fall of Sheikh Hasina that could rattle the geopolitics of the subcontinent, if not reshape it.
- Five broad questions stand out for Indian statecraft in a crisis that has just begun to unfold.
- First, can India stand by its friends? The Indian establishment has certainly ensured that Hasina was flown to safety before the angry protestors broke through to her residence in Dhaka.
- The story was quite different 50 years ago, when Delhi could not prevent the murder of Hasina’s father and the founder of the republic, Mujibur Rahman, and much of his family by the coup makers on August 15, 1975.
Lok Sabha passes Bill allowing Centre to draw from Consolidated Fund for 2024-25
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GS2-Parliament functioning
- The Lok Sabha Monday passed the Appropriation (No. 2) Bill, 2024 by a voice vote, authorising the Centre to draw money from the Consolidated Fund of India to meet expenditure estimated for the financial year 2024-25.
- After a discussion on the demands for grants related to the Ministry of Fisheries, Animal Husbandry and Dairying, Speaker Om Birla guillotined discussions on Budgets for several ministries at 6 pm, and took up the Appropriation Bill-2024-25 for consideration and passage.
Exit Hasina
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GS2- India and its neighborhood- relations
- Bangladesh has been a key ally to India since Sheikh Hasina came to power in 2009. From eradicating anti-India terrorist groups which operated out of safe havens in Bangladesh to facilitating greater economic, social, and cultural ties, Hasina’s tenure has fostered a healthy relationship between New Delhi and Dhaka.
- Her exit could jeopardise this — affecting growing trade ties, restricting the movement of people and goods, and stalling a potential free trade agreement (FTA) between the two countries.
Watching Dhaka
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GS2- India and its neighborhood- relations
- The old order in Bangladesh has changed irreversibly and India will have to adjust to the change.
- A student protest against reservation morphed into a wider people’s movement against the increasingly autocratic and corruption-ridden rule of Sheikh Hasina.
- She has resigned and left the country and may take shelter in India. India should not deny her that.
- The Bangladesh Army appears to have taken charge though it has promised an interim government of “stakeholders” to pave the way for free and fair elections.
- Whether the protests will die down and the current unrest on the streets of Dhaka will be stemmed remains to be seen.
Fall and Correct
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GS3- Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment
- Last Wednesday, the US Federal Reserve, while holding rates steady, signaled a shift in approach.
- The change in the tone of the commentary — from being fixated on inflation to being “attentive to the risks to both sides of its dual mandate” of inflation and employment — had raised the possibility of an interest rate cut at the Fed’s September meeting.
- The Dow Jones index rose in anticipation of a policy pivot. However, subsequent data released by the US Bureau of Labour Statistics raised concerns over the state of the economy and posed the question: Was the Fed being too slow to act?
- Non-farm payrolls increased by 1.14 lakh in July, significantly below market expectations and the unemployment rate rose to 4.3 per cent.
- This has raised fears of a deterioration in the labour market, and the possibility of a recession. The labour market data has roiled global markets, and India is no exception.
Why Hasina had to flee
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GS2- Effect of policies and politics of developed and developing countries on India’s interests
- As friends and neighbours of Bangladesh watched the political drama in the country unfold over the last few weeks, a question on top of everyone’s minds was: Will the longest-serving prime minister of Bangladesh manage this crisis as she has done on many occasions in the past?
- After coming to power in 2009 through a free, fair, and credible election, she subsequently presided over largely non-participative and controversial polls on three occasions — 2014, 2018, and 2024. She appeared to be near-invincible, her hold on power complete.
SC panel: Bar pvt vehicles in Sariska reserve, raise tiger protection force
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GS3- Conservation
- TO PROTECT tigers and their habitats in Sariska Tiger Reserve (STR), Rajasthan, from adverse impacts of vehicular traffic, the Central Empowered Committee (CEC) of the Supreme Court has recommended a ban on entry of private vehicles by March 2025 and the creation of a special tiger protection force.
- The STR sees heavy traffic of unregulated vehicles as a large number of devotees visit the numerous temples inside the reserve, including the famous Pandupol temple that is located 22 km inside the core area.
Rupee falls to all-time low of 84.09 against dollar; FPIs pull out $1.2 bn
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GS3- Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment
- The rupee slumped 37 paise to settle at an all-time low of 84.09 against the US dollar on Monday following a sell-off in global markets amid rising geopolitical tensions in the Middle East, worries over recession in the US and carryover trade in Japanese yen.
- The decline in the currency came on the back of a sharp downturn in the equity markets and foreign capital outflows. Foreign portfolio investors (FPIs) pulled out Rs 10,073 crore ($ 1.20 billion) from the markets on Monday, putting pressure on the rupee, exchange data showed.
