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India’s Gross Domestic Product (GDP) is estimated to grow 7.3 per cent in 2023-24, according to the first advance estimates of national income released by the National Statistical Office (NSO).
The 7 per cent-plus growth rate in FY24 — the third year in a row, and in the backdrop of poor global conditions and a slowing down of the world economy — comes ahead of national elections likely to be held in a few months from now.
The first advance estimates of growth is marginally up from 7.2 per cent in 2022-23, but way higher than the government’s initial growth estimate of 6.5 per cent.
Higher investment coupled with government expenditure along with a pickup in sectoral outputs of mining, manufacturing, construction and financial services, are seen supporting the higher GDP growth. Agriculture and trade, hotels, transport and communication services seem to be slowing down.
Consumption demand is, however, seen tepid in the current financial year. Private final consumption expenditure (PFCE) — indicator of consumption demand — is seen growing at 4.4 per cent in 2023-24, the slowest pace in two decades barring the pandemic year of FY21.
The previous low for PFCE growth rate was 2.9 per cent in 2002-03. It grew at 7.5 per cent in 2022-23. In contrast, government final consumption expenditure (GFCE) is seen sharply up at 4.1 per cent in FY24 as against 0.1 per cent in the previous year.
Tata memorial hospital teaches AI how to detect cancer from medical scans (Page no. 1)
(GS Paper 3, Science and Technology)
With a simple click, doctors will be able to assess the hardness, texture and elasticity of tumours, including gaining insights into the likelihood of a patient’s survival and responsiveness to chemotherapy.
Once the stuff of sci-fi, an initiative by Mumbai’s Tata Memorial Hospital, India’s largest cancer hospital, is doing just that — deploying deep learning to teach Artificial Intelligence (AI) how to diagnose cancer early on. This detection tool, doctors say, will also help avoid unnecessary chemotherapy for predicted non-responders.
With the hospital’s Bioimaging Bank having integrated 60,000 digital scans of cancer patients over the past year, it has laid the groundwork to develop a cancer-specific algorithm. The hospital has also started using AI to reduce radiation exposure in paediatric patients undergoing CT scans.
Cancer cases are expected to double from 13 lakh to over 26 lakh in the next decade. This increase necessitates specialised manpower for early diagnosis. Cancer can be cured in many cases if detected early and treated swiftly.
Govt & Politics
Cabinet clears PRITHVI initiative for wase of research in earth science (Page no. 5)
(GS Paper 3, Defence)
The government approved an initiative that will give it the flexibility to pursue research and use funds allocated to five different sub-schemes related to earth sciences over a five-year period.
The funds at the disposal of the Ministry of Earth Sciences are Rs 4,797 crore which collates allocations to the sub-schemes.
The sub-schemes are ‘Atmosphere and Climate Research-Modelling Observing Systems and Services’, ‘Ocean Services, Modelling Application, Resources and Technology’, ‘Polar Science and Cryosphere Research’, ‘Seismology and Geosciences’ and ‘Research, Education, Training and Outreach’.
The new initiative, approved by the Union Cabinet at a meeting chaired by Prime Minister Narendra Modi, will be called ‘PRITHVI’ and will allow the ministry to award research projects to overseas institutes.
With the PRITHVI initiative, we are looking at earth system sciences as one unit, instead of separate verticals such as atmosphere, cryosphere, geosphere, ocean science.
This will allow us to take up cross-disciplinary projects and even use funds allocated for the separate verticals together.
Express Network
ISRO tests fuel cell to potentially power space missions (Page no. 7)
(GS Paper 3, Science and Technology)
The Indian Space Research Organisation (ISRO) successfully demonstrated a fuel cell that uses hydrogen and oxygen to generate electricity and releases heat and water as byproducts.
The fuel cell, sent to space on the fourth stage of the PSLV on January 1, generated 180W power during the short duration test.
These cells are ideal for human space missions because the heat and water generated as byproducts are also essential, meaning a single system can meet multiple requirements of the mission.
After the January 1 launch, ISRO Chairperson S Somanath said the fuel cell designed by the Vikram Sarabhai Space Centre (VSSC) is a precursor to the future power systems for space stations.
The space agency is likely to launch multiple test vehicle missions and at least one unmanned spaceflight under the Gaganyaan mission this year. India has targeted setting up a space station in low earth orbit by 2035.
Editorial
At stake in Dhaka (Page no. 10)
(GS Paper 2, International Relation)
The elections this weekend in Bangladesh, the first in a series of polls in 2024 across the world, will be significant. Unlike Pakistan, where the army will continue to rule irrespective of the electoral outcome, the Bangladesh elections can consolidate democratic practices and institutions, bring about a progressive development agenda and fuller participation in regional and global affairs. The support of the international community will be crucial for such an outcome.
The ruling Grand Alliance, led by Sheikh Hasina of Awami League (AL), seeking a fourth successive term, has delivered on economic growth, infrastructure development, social support network, improvement in SDGs and the fight against terrorism in its 15 years of governance.
However, popular support declined when the nation’s post-Covid recovery was impacted by the Ukraine war. It led to a macro-economic crisis, inflation and unemployment, and needed an IMF bailout.
To compound the challenges, the Opposition campaigned vigorously for a caretaker government, failing which it threatened to boycott the polls.
More worrisome for the government was criticism from the USA and Europe that called for free and fair elections, suggesting that processes were not democratic. For AL, these developments sought to undermine the legitimacy of the electoral outcome.
Ideas Page
Revival of the tiger (Page no. 11)
(GS Paper 3, Environment)
India has had a long and varied history of forest and wildlife conservation. The management of tiger reserves is based on the Tiger Conservation Plan which includes a detailed plan for core and buffer zones.
At Corbett Tiger Reserve (CTR), both these zones, together span large swathes of land, 1288.31 sq.km to be precise, covering three districts of Uttarakhand. Just four years ago, CTR recorded 231 tigers.
According to the 2022 report, the reserve now records the highest density of wild tigers in the world, with a figure of 260 tigers. This indicates a healthy forest and ecology.
CTR has a richly-forested, highly-biodiverse landscape. The variety of birds and wildlife at the reserve, attract bird-specialists, environmentalists, wildlife enthusiasts, researchers, conservation biologists and tourists in large numbers. Many a veteran visitor would vouch for the eco-spiritual experience of the wilderness.
Economy
UN report revises forecast for 2023 GDP growth down to 6.2% (Page no. 13)
(GS Paper 3, Economy)
A United Nations revised India’s gross domestic product (GDP) growth forecast for the 2024 calendar year to 6.2 per cent from its earlier estimate of 6.7 per cent.
Growth in India is projected to reach 6.2 per cent in 2024, slightly lower than the 6.3 per cent estimate for 2023, amid robust domestic demand and strong growth in the manufacturing and services sectors.
The report said GDP in the larger South Asian region grew by an estimated 5.3 per cent in 2023 and is projected to increase by 5.2 per cent in 2024, driven by a robust expansion in India, “which remains the fastest-growing large economy in the world.
The UN report said investment prospects in China face headwinds from a struggling property sector though government-led infrastructure investments are partially offsetting the shortfall in private investments. The assessment comes at a time India is positioning itself as an alternate investment destination to China.
Explained
Bangladesh elections & India (Page no. 15)
(GS Paper 2, International Relation)
As Bangladesh votes in national elections on Sunday, India will be watching closely. The countries share a 4,100-km border and deep historical, cultural, and economic ties. A stable, prosperous and friendly Bangladesh is in India’s best interests.
Thus, India stands firmly behind the incumbent Sheikh Hasina. Seen as one of India’s closest friends and allies, she has over the years fostered a friendly and mutually beneficial relationship between the two countries.
Before Hasina came to power in 2009, the previous Bangladesh Nationalist Party-led government was quite hostile to India — and provided safe haven to numerous anti-India terrorist and militant groups. It allegedly also had links to Pakistan’s ISI, and gave space to hardline Islamist radicals.