Indian Express Editorial Summary

Editorial Topic : Women’s Role in Indian Politics

 GS-1 Mains Exam :  Role of Women

Revision Notes

Question : “Examine the role of women voters in shaping electoral outcomes in India since 1991. How have political parties adapted to this shift, and what are the implications for women’s political empowerment?”

The Women’s Reservation Bill and a Glimpse of Hope (September 2023):

• The Women’s Reservation Bill, promising 33% reservation for women in Lok Sabha and state assemblies, was passed with near-unanimous support.
• This signaled a potential shift towards a more gender-equal legislature.

Reality Check- Fewer Women Elected (18th Lok Sabha):

• The number of women MPs dropped from 78 (17th Lok Sabha) to 73 (18th Lok Sabha).
• The “boys’ club mentality” continues to dominate Indian politics.

Women Voters- A Growing Force (Since 1991):

• The gap between male and female voter turnout has narrowed significantly.
• Women’s participation is shaping electoral outcomes.
• Political parties recognize the importance of the “woman vote” through targeted welfare schemes.
  • Ex: Lakshmir Bhandar scheme (West Bengal)
  • Ex: Laadli Behna scheme (Madhya Pradesh)

Learning from Global Examples:

• Countries like Mexico and Nordic nations (Norway, Sweden, Denmark, Netherlands) demonstrate successful models for promoting women’s leadership.
• Mexico employs quotas for women at all political levels, including ticket distribution.
• Nordic countries use affirmative action measures like the “zipper system” (alternating male and female candidates).

The Women’s Reservation Bill: 

• The Bill is a crucial step, but not the final destination.
• More needs to be done to achieve gender parity in Indian politics.

Conclusion: 

• Women should be seen as potential leaders and decision-makers, not just voters or beneficiaries.
• A mindset shift is essential for achieving greater female representation in politics.

 

 

 

RBI’s Monetary Policy

Indian Express Editorial Summary

Editorial Topic : RBI’s Monetary Policy

 GS-3 Mains Exam :  Economy

Revision Notes

Note: Today’s editorials are solely for informational updates; direct questions cannot be formulated

 Basic Concept-

The Monetary Policy Committee (MPC) is a committee in India that is responsible for setting the benchmark interest rate, also known as the repo rate. This rate influences borrowing costs throughout the economy.

About MPC:

• Function: Determines the repo rate to achieve a specific inflation target set by the government.
• Composition: Six members, including the Governor of the Reserve Bank of India (RBI) who acts as the chairperson.
• Formation: Established in 2016 by the central government under the RBI Act.
• Meetings: Convenes at least four times a year. Decisions are made by a majority vote, with the Governor having a casting vote in case of a tie.

The MPC’s decisions impact various aspects of the Indian economy, including:

• Inflation: By adjusting the repo rate, the MPC can influence the money supply in the economy, thereby controlling inflation.
• Economic Growth: Lower interest rates can stimulate borrowing and investment, promoting economic growth.
• Exchange Rate: The repo rate can also affect the exchange rate by influencing the flow of foreign capital.

 

Back into Editorial Analysis

 Rates Unchanged, Growth Upward:

• RBI maintained the benchmark repo rate at 6.5% for the 8th time.
• This decision aims to balance price stability (primary objective) and economic growth (secondary objective).

Inflation Concerns:

• Retail inflation remains above 4%, though trending down since February 2024 (5.1% to 4.8% in April).
• “Sticky” inflation led to divergence within the Monetary Policy Committee (MPC).
  • “Hawks” (inflation-focused members) dominate “doves” (less concerned about inflation).
• Governor Das clarified rate cuts aim for sustained inflation control, not just reaching 4%.

Growth Projections Revised Upward:

• RBI increased GDP growth forecast for 2023-24 from 7% to 7.2%.
• Stock market reacted positively to the growth revision.

Reasons for Optimistic Growth Outlook:

• Positive outlook for agriculture and rural demand: Expected strong monsoon to benefit agriculture and boost rural spending.
• Revival in private consumption: Manufacturing and services activity momentum to pick up private consumption.
• Investment activity on track: High capacity utilization, healthy financials of banks and corporates, government infrastructure spending, and positive business sentiment suggest continued investment.

Conclusion

• High inflation, especially food prices, is a key voter concern.
• Global and local uncertainties (geo-political tensions, climate events) influence RBI’s decision.
• RBI prioritizes caution to manage inflation risks and maintain growth momentum.