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- Why in News?
- During a recent address, the RBI Governor urged global central banks to prioritize the development and adoption of Central Bank Digital Currencies (CBDCs) over stablecoins. His recommendation comes amid international policy moves such as the U.S. GENIUS Act and South Korea’s Digital Asset Basic Act, both aiming to regulate digital currencies.
- Key Provisions:-
- CBDC represents a sovereign-backed, purely digital form of currency issued by a central bank. It ensures legal tender status, regulatory oversight, and direct alignment with monetary policy objectives. In contrast, stablecoins are privately issued digital assets pegged to traditional currencies but often operate outside strict regulatory frameworks.
- CBDCs offer multiple advantages — enhanced payment security, cross-border efficiency, financial inclusion, and better control over liquidity and inflation. India’s own initiative, the Digital Rupee, reflects this vision. Currently under pilot in retail and wholesale formats, it enables seamless, secure, and low-cost digital transactions backed by the Reserve Bank of India.
- Why in News?
- In its latest report, Price Policy for Rabi Crops, Marketing Season 2024–25, the Commission for Agricultural Costs and Prices (CACP) has drawn attention to the growing imbalance in India’s fertilizer subsidy structure, which is adversely affecting soil health and crop yields.
- Key Provisions:-
- According to CACP, fertilizer efficiency has sharply declined — foodgrain output per kilogram of NPK has dropped from 12 kg in the 1960s to just 3 kg by 2020. Heavy subsidies on urea have led to its excessive use, causing nutrient imbalance and soil degradation. Moreover, fertilizer usage is highly uneven across states — with districts in Andhra Pradesh and Tamil Nadu using over 500 kg per hectare, far beyond recommended levels.
The CACP recommends gradually increasing urea prices, promoting Integrated Nutrient Management (INM), and strengthening soil testing infrastructure. It also supports ongoing government initiatives such as the Nutrient-Based Subsidy (NBS) Scheme, PM-PRANAM, Soil Health Cards, and promotion of nano fertilizers
- Why in News?
- India has been elected unopposed to the United Nations Human Rights Council (UNHRC) for the seventh time, securing a three-year term from 2026 to 2028. The election reflects India’s growing global stature and commitment to safeguarding human rights and democratic values.
- Key Provisions:-
- The UN Human Rights Council, established in 2006 to replace the earlier Commission on Human Rights, functions as the principal UN body responsible for promoting and protecting human rights worldwide. It comprises 47 member states, elected by the UN General Assembly for three-year terms, with members eligible for a maximum of two consecutive terms.
- The Council serves as an international platform for addressing human rights issues, reviewing member states’ performance through mechanisms like the Universal Periodic Review, and adopting resolutions or initiating special investigations on violations. India’s continued presence on the Council underscores its active engagement in shaping global human rights discourse and multilateral cooperation.