Decline in water level of Indian reservoirs

Context: -
India, a country heavily reliant on monsoon
rains, faced a significant challenge
in August 2023 with an unprecedented
rainfall deficit.
 As a result, the water levels in the
nation's crucial reservoirs have
experienced
a sharp decline, raising concerns about water supply for households, industries, and
power generation.
 August is typically a month when India's reservoirs see their water storage levels
increase significantly. However, August 2023 was an exception, as it marked the
driest August in over 120 years. Instead of the expected 255 mm of rainfall, the
country received only about 162 mm, resulting in a 36% rainfall deficiency.
How Dry are India’s Reservoirs?
 According to the Central Water Commission (CWC), the live storage in the 150
reservoirs was 113.417 billion cubic meters (BCM) as of 31st August, 2023, which
was 63% of their total live storage capacity.
 The water levels in the reservoirs varied across different regions and river basins. The
southern region, which had a rainfall deficiency of 60% in August, had the lowest
storage level of 49% of its combined capacity.
 The eastern region, which received normal rainfall, had the highest storage level of
82% of its combined capacity.
 Some of the river basins that had highly deficient or deficient water levels were:
o Highly Deficient:
 Pennar basin in Karnataka and Andhra Pradesh
 Mahanadi basin in Chhattisgarh and Odisha
o Deficient:
 Subarnarekha, Brahmani and Vaitarni basins in Jharkhand, West Bengal
and Odisha
 Kaveri basin in Karnataka and Tamil Nadu
 Mahi basin in western India
 Krishna basin in Maharashtra, Karnataka and Telangana
 Water storage in the reservoirs of the eastern, western, central and southern regions,
except the northern region is less than last year (2022).
What Are the Consequences of this Water Scarcity?
 Agriculture:
o The reservoirs provide irrigation water for crops, especially during the rabi
season. The reduced water availability can affect crop production and farmers’
incomes.
 Power:
o The reservoirs also supply water for hydropower generation, which accounts
for over 12% of India’s total electricity generation.
 Environment:

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 o The reservoirs also support biodiversity and ecosystem services, such
as flood control, groundwater recharge, fisheries and recreation. The lower
water levels can affect these functions and cause ecological damage.
 Impact on Water Supply:
o India's annual rainfall primarily occurs during the southwest monsoon season,
making these reservoirs vital for water supply year-round. This scarcity in
water storage threatens households.
What are the Causes for the Rainfall Deficit?
 El Niño:
o El Niño is a climatic phenomenon that occurs when the sea surface
temperature in the central and eastern Pacific Ocean rises above normal.
 Indian Ocean Dipole (IOD):
o The Indian Ocean Dipole (IOD) is defined by the difference in sea surface
temperature between two areas (or poles, hence a dipole) – a western pole
in the Arabian Sea (western Indian Ocean) and an eastern pole in the eastern
Indian Ocean south of Indonesia.
o The IOD affects the climate of Australia and other countries that surround the
Indian Ocean Basin, and is a significant contributor to rainfall variability in this
region.
Way Forward
 Promote efficient water management practices in agriculture, including the
adoption of drip irrigation and rainwater harvesting techniques.
o Encourage crop diversification and the cultivation of drought-resistant
crops to reduce the reliance on water-intensive farming.
 Water innovation initiatives, such as desalination, wastewater treatment, smart
water technologies, and climate-resilient agriculture, can help enhance water
supply and efficiency and cope with water challenges and uncertainties.
 Invest in renewable energy sources like solar and wind power to reduce the
dependency on hydropower generation, especially during dry periods.
 Raise awareness among the public about responsible water usage and the importance
of conservation.

Agriculture Infrastructure Fund (AIF)

Context: -
The Centre is promoting the Agriculture
Infrastructure Fund (AIF), a financing
facility launched in 2020.
What is the AIF scheme about?
 It is a Central Sector Scheme
approved by the Union Cabinet in
2020.
 It aims to provide a medium long-term debt financing facility for investment in viable
projects for post-harvest management Infrastructure and community farming assets.
 The duration of the Scheme shall be from FY2020 to FY2032.

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  Eligible beneficiaries include:
o Farmers, FPOs, PACS, Marketing Cooperative Societies, SHGs, Joint Liability
Groups, Agri-entrepreneurs, Start-ups, and Central/State agency or Local Body
sponsored Public Private Partnership Projects.
 Under the scheme, Rs. 1 Lakh Crore will be provided by banks and financial
institutions as loans.
 The loans are provided with interest subvention of 3% per annum and credit guarantee
coverage under CGTMSE for loans up to Rs. 2 crores.
What is the significance of the scheme?
 It provides support facilities to farmers and value chain actors for risk sharing and
market access.
 Improved marketing infrastructure will help farmers sell their produce directly.
 With investments in logistics infrastructure, post-harvest losses can be reduced.
 It also provides targeting State-specific APMCs and maintenance of sanitary and
phytosanitary standards for organic produce marketing and exports.
 District, state or national level monitoring committees will reduce the turnaround time
for file processing to less than 60 days.
 The scheme tries to mitigate spatial and temporal risks in the agribusiness ecosystem
through adequate post-harvest infrastructure facilities.
How has the scheme performed till date?
 Finance allocation – The financing facility allocation to the States/UTs based on the
value of the output of agriculture and allied activities is skewed.
 Over 65% of the total funds were allocated to only eight States: Uttar Pradesh,
Rajasthan, Maharashtra, Madhya Pradesh, Gujarat, West Bengal, Andhra Pradesh,
and Tamil Nadu.
 In contrast, the allocation of AIF to Punjab and Haryana is 9%, and in North-Eastern
states, it is 3%.
 Integration with debt – AIF is integrated with debt, where the interest rate
subvention is facilitated up to ₹2 crore.
 So, the scheme’s success depends on the intention and ability of financial institutions.
 Bankers look at the projects from their credit assessment lens, where feasibility
depends on the project and the promoter.
 Credit guarantee – Credit guarantee cover for eligible borrowers is available for ₹2
crore, which is small for a standard project.
 Although there is a renewed focus on inclusivity and equity in the scheme, offering
grants-in-aid for underprivileged and women entrepreneurs may increase the default
(credit) risk.
 Large-scale integrated projects cannot be installed singly under this scheme.
 Convergence with other schemes remains a crucial enabler for its success.
 This scheme will be successful for farm-gate-led hub-and-spoke models where the
spokes with prescribed distance can be installed under this scheme.

Central Bank Digital Currency (CBDC)

Context: -

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The Reserve Bank of India (RBI) is working
with lenders to introduce new features to
popularise the central bank digital
currency (CBDC), in recent times.

About Central Bank Digital Currency (CBDC):-

 CBDC is fiat money or money established/backed by a government through its
central bank in a virtual form.
 It is a legal tender issued by a central bank in a digital form.
 It combines the power of blockchain with the logistics of distributed ledger
technology (DLT), where data can be synchronized across multiple
locations without the need for centralized storage.
Salient Features:-
 CBDC is a high-security digital instrument.
 It is a means of payment, a unit of account, and a store of value.
 Just like paper currency, each unit is uniquely identifiable to prevent counterfeiting.
 It is a liability of the central bank just as physical currency is.
 It’s a digital bearer instrument that can be stored, transferred, and transmitted by
all kinds of digital payment systems and services.
Advantages:-
 CBDC is a faster system.
 Financial inclusion
 Improve Monetary policy facilitation.
 It can become a regional currency for cross-border transactions.

Bureau of Indian Standards (BIS)

Context: -
The Bureau of Indian Standards
(BIS) recently, reached 2.4 lakh Gram
Panchayats to create awareness and promote
compliance with Indian standards.
Background:-
 The initiative aims to enhance the overall quality and safety of government programs
and schemes implemented at the village level.
About the Bureau of Indian Standards (BIS):-
 Establishment: 1986.
 Ministry: Ministry of Consumer Affairs, Food & Public Distribution.
 HQ: New Delhi.
 The Bureau of Indian Standards (BIS) was established under the BIS Act, 1986 for
the harmonious development of the activities of standardization, marking, and quality
certification of goods and for matters connected therewith or incidental thereto.

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  Objectives: harmonious development of the activities of standardization, marking,
and quality certification of goods and for matters connected therewith or incidental
thereto.
 BIS is the National Standard Body of India.
Historical Background:-
 It was formerly the Indian Standards Institution (ISI), set up under the Resolution
of the Department of Industries and Supplies in 1946.
 The ISI was registered under the Societies Registration Act, of 1860.
 A new Bureau of Indian Standards Act, 2016 which was notified on 22nd March
2016, has been brought into force with effect from 12 October 2017.
 It reinforces the activities of BIS with respect to standardization and certification of
goods, articles, processes, systems, and services.
Composition:-
 President, Ex-officio: Hon’ble Minister for Consumer Affairs, Food and Public
Distribution, Government of India.
 Vice President, Ex-officio: Hon’ble Minister of State for Consumer Affairs, Food
and Public Distribution, Government of India.
Functions:-
BIS is involved in various activities as given below:-
 Standards Formulation
 Product Certification Scheme
 Compulsory Registration Scheme
 Foreign Manufacturers Certification Scheme
 Hall Marking Scheme
 Laboratory Services
 Laboratory Recognition Scheme
 Sale of Indian Standards
 Consumer Affairs Activities
 Promotional Activities
 Training Services, National and international level
 Information Services

Phanigiri artifacts
Context: -
The Phanigiri artifacts, belonging to 200
BCE-400 CE were put on display at the New
York Metropolitan Museum of Art.
Background:-
 The Phanigiri artifacts would be
displayed in the art collection of
the Tree and Serpent exhibition, which began at the New York Metropolitan Museum
of Art (popularly known as The Met) in July 2023.

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  The exhibition has 125 objects between 200 BCE and 400 CE.
 The exhibition at The Met is on till November 13, 2023.
About the Phanigiri artifacts:-
 Discovered: 1942.
 Rediscovered: 2003.
 Location: Phanigiri,
 Phanigiri in Suryapet district is a small village of about 4,000 residents, about 150
km from Hyderabad.
 The Phanigiri Buddhist site is considered one of the most important finds in
Buddhist iconography in this millennium.
 Phanigiri means the hillock of snake hood.

Key Findings and their Significance:-

 The thoranas discovered at Phanigiri are very important as they are among the first
found south of Sanchi.
o The same thorana has a panel that shows both the Mahayana and Hinayana
school of thought.
o This shows that despite philosophical differences, both sects co-existed in
Phanigiri.
 There is evidence from Phanigiri that shows the deification of Buddha.
 The change from a historical and spiritual identity and a transition to canonization
and ritual is evident in Phanigiri.
 The artifacts from this site, include a limestone carving of Buddha wearing what
appears to be a Roman toga.

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