Indian Express Editorial Summary

Editorial Topic :  Indian Economy on the Rise

GS-3 Mains Exam : Inflation (Economy)

Revision Notes

Economic Growth Projections:

• National Statistical Office (NSO) initially projected 7.3% growth for 2023-24, revised upwards to 7.6% in February.
• A recent RBI report forecasts a 7.5% growth in Q1 of FY2024-25, exceeding their earlier estimate of 7.1%.
• This potentially positions India’s growth at nearly double the global average in recent years.

Positive Momentum Across Sectors:

• Leading indicators in the RBI report show healthy growth momentum.
• Strong growth in GST e-way bills, toll collections, and steel consumption (construction sector) is observed.
• Rural spending is recovering, with Nielsen IQ data indicating higher rural FMCG demand than urban in Q1 (Jan-March).
• Two- and three-wheeler sales are experiencing steady growth.

Areas of Concern:

• Merchandise exports saw a meagre 1.1% growth in April.
• Broad-based revival in private investment is yet to materialize.
• Job and wage concerns persist.
• Divergence in food and core inflation is a challenge (food inflation at 7.9% in April vs. core inflation at 3.2%).
• Uncertainty around food prices contributes to the uneven pace of inflation aligning with the RBI’s target.
• The report predicts a “durable alignment” with the inflation target only in the second half of the year, suggesting a long-drawn disinflation process.

Looking Ahead:

• National election results in early June will be followed by government formation, RBI’s monetary policy meeting, and the Union budget presentation.
• These upcoming events will be crucial factors shaping India’s future growth trajectory.

 

Indian Express Editorial Summary

Editorial Topic : Enduring Relevance of Immanuel Kant in a Globalized World

GS-1 & 4  Mains Exam : World History and Ethics

Revision Notes

Kant’s Legacy: A Resurgence

• Immanuel Kant (1724-1804), a philosopher from Königsberg (Kaliningrad), experiences renewed interest in his 300th birth year.
• Both Russia and Germany claim his intellectual heritage.
• Works like “Critique of Pure Reason” and “Perpetual Peace” are reevaluated as the global order faces challenges.

Kant’s Vision for a Globalized World:

• Opposed imperialism, colonialism, and slavery.
• Envisioned a world with:
  • Open trade
  • Free movement of people (including refugees)
  • “World citizenship”
• Emphasized reason, rationality, and morality in international relations.

Kant and Decolonization:

• Kant’s focus on reason and ethics remains relevant.
• 17 territories still await self-determination as per the UN Charter.
• Former colonial powers resist granting full freedom despite advocating democracy.

Challenges to Kant’s “Perpetual Peace”:

• Multilateral Institutions: UN structure with veto power might surprise Kant.
• New Actors: Global organizations, corporations, powerful individuals operate in unforeseen ways.
• Existential Threats: Weapons of mass destruction and AI weaponry pose new threats.
• Information Warfare: Misinformation and online hate speech challenge Kant’s vision of reason and morality.
• Persistent Prejudices: Racism and bigotry continue to hinder peace.

Challenges to Morality and Reason in a Globalized World:

• Blurred Reality: Geopolitical narratives and manipulation make it difficult to distinguish reality from fiction.
• Double Standards: Inconsistent judgments on democracy (e.g., US vs. India) raise ethical concerns.
• Shifting Identity: Digitalization and globalization challenge traditional national identity and authority.
• Reason vs. Rationale: Biases like nationalism and religion can corrupt reason, leading to justifications (rationale) over moral action.
• Ethics vs. Rationale: Self-interest often trumps ethical principles in global affairs.
• Dysfunctional Global Order: The UN, designed to be an ethical framework, is hindered by power politics.

India’s Ancient Wisdom Offers Guidance:

• India’s historical strategic thinking offers contemporary relevance.
• Texts like Arthashastra and Tirukkural (predating Kant) promote ethics in governance and warfare.
• India’s cultural heritage emphasizes a global perspective on human well-being.
• India’s G20 presidency promoted “One Earth, One Family, One Future,” echoing the ancient ideal of Vasudhaiva Kutumbakam (world as one family).

Conclusion:

• Combining Kant’s ideas with ancient wisdom can provide a new moral compass for a better world.