Following are the Suggested Answers for Mains Marathon, March 27:
1.“Morality is the basis of things and truth is the substance of all morality.” Discuss. (GS 4)
“नैतिकता चीजों का आधार है और सच्चाई सभी नैतिकता का तत्व है।” चर्चा करें।
Morality speaks of a system of behavior in regards to standards of right or wrong behavior.
The word carries the concepts of:-
(1) moral standards, with regard to behavior
(2) moral responsibility, referring to conscience
(3) a moral identity, or one who is capable of right or wrong action.
Lack of morality in one’s dealings impact the working of the society, nation and the world. At times leading to chaos, anarchy and injustice.
Morality describes the principles that govern our behavior. Without these principles in place, societies cannot survive for long. Everyone adheres to a moral doctrine of some kind.So it is basis of all things.
At the same time a person’s morality is based on the truth.To have empathy ,compassion and other characteristics of morality one has to know the truth.When the society judges that some person is a criminal the basis on which evidence is found is the truth.A civil servant can be moral only when he/she can see the truth of the conditions of the society.
Truth is state of being true, the state of knowing ‘it is, what it is.’ The sheer power and influence of truth is sculptured in our national emblem as “satyameva jayate” (the truth alone triumphs). And nothing can be truer than this truth.
Truth gives morality the strength to face the world For instance Martin Luther king was truthful to his mission against racial discrimination which was moral quality.
So truth guides people to be moral and gives an ethical dimension to life.
2.What do you mean by “Sea control” and “Sea denial”? Examine the importance of naval power for India. (GS 1)
“सागर नियंत्रण” और “सागर अस्वीकार” का क्या मतलब है? भारत के लिए नौसैनिक शक्ति के महत्व की जांच करें।
Sea control:-
- Naval force has command of the sea when it is so strong that its rivals cannot attack it directly. Also called sea control, this dominance may apply to its surrounding waters (i.e., the littoral) or may extend far into the oceans, meaning the country has a blue-water navy.
- It is the naval equivalent of air superiority.
- With command of the sea, a country (or alliance) can ensure that its own military and merchant ships can move around at will, while its rivals are forced either to stay in port or to try to evade it.
- It also enables free use of amphibious operations that can expand ground based strategic options.
Sea denial:
- It is a military term describing attempts to deny an enemy’s ability to use the sea (usually with naval blockades or port blockades), at the same time making no attempt to control the sea itself.
- It is a far easier strategy to carry out than sea control because it requires the mere existence of a navy.
- The downside of sea denial is that fleets may become over-stretched as constant hit-and-run tactics can erode unit strength, leaving them unready for direct action in main fleet combat.
Importance of naval power for India:
- Economical:
- Trade:
- In the strategically located Malacca Straits,40 percent of the world’s trade and more than 80 percent of China’s oil imports pass through.So having a strong navy is very significant.
- Energy:
- India is expected to import 90 percent of its crude oil by 2030, and its coal imports are expected to more than double to 300 million tonnes by 2040.
- India needs to be able to protect the energy routes to bring these resources to its shores.
- Strategical:
- While most of its wars have been fought on land and air, a strong navy with nuclear deployment capabilities gives India a much-needed strategic edge.
- As opposed to land and air, India is importantly at a relative locational advantage on the sea vis-à-vis China.
- The Economistargues that India’s naval advantage might allow it to impede oil traffic heading for China through the Malacca Straits.
- Trade:
- Security:
- The tremors of China’s increasing claims in the South China Sea are already being felt across Asia, giving the Indian Navy more reason to beef up its fleet.
- With huge coastline,security becomes a huge issue especially with some disputes sir creek which has been a itching factor so strong navy is very necessary to avoid incidents like 26/11.
- China factor:
- India has been growing uneasy about Beijing’s perceived ‘String of Pearls’ strategy in the Indian Ocean.
- With China developing its own blue water navy, India aims to not only secure its own territory but also be able to project power farther than its shores.
- Maintain bilateral relation with the neighbours via joint operation,exercises etc.
Concerns:
- India has an aging naval fleet and replacement is often fraught with major delays.
- For instance, the INS Vikramaditya was delayedby five years, and an Indian Comptroller and Auditor General report criticized the navy’s operational readiness, given 74 percent of its refits between 2005 and 2010 were completed with a total delay of more than 23 years.
- The Indian Navy is currently weak on submarine capabilities.
- Most of India’s defense equipment is imported (mostly from Russia) and the country needs to develop its indigenous manufacturing capabilities.
- The strategic disconnect between the defense forces and the Ministry of Defense.
Therefore cost effective and timely modernization would be critical to fully realize India’s blue water dreams. India has the allocated funds, locational advantage, time and the opportunity to form strategic alliances on its side.
भारतीय इक्विटी बाजार के लिए एफआईआई इतनी महत्वपूर्ण क्यों हैं? पिछले साल एफआईआई में इतनी मंदी के कारणों का विश्लेषण करें?
Importance of FII :-
- They have been attracted by the handsome returns and the robust regulatory and trading mechanisms of the country for long.
- Data on foreign flows in the Indian equity and debt segments are available from 1992-93, and since then, they have invested 8.51 lakh crore in equities and 2.82 lakh crore in debt.
- FII have been responsible in success of many IPO leading to their over-subscription.
- Foreign investor fund flows are very important for Indian markets to grow, particularly when there is no growth or hardly any growth in the equity assets under management of the mutual fund industry and premium collection is not growing in the insurance sector for a sustained period of time.
- FIIs pump in a huge money in a company share, thereby increasing the valuation of the company and increasing the demand for the company share
- More the FIIs invest in a particular company share, a positive sentiment prevails in the market on the share, thereby increasing the demand
- It lowers cost of capital, access to cheap global credit.
- It supplements domestic savings and investments.
- It leads to higher asset prices in the Indian market.
- And has also led to considerable amount of reforms in capital market and financial sector.
Why were FII so bearish last year :-
- FIIs were quite bearish, both in debt and equity.
- Facts:
- Between October 2016 and end-January 2017, FIIs were net sellers in the debt and equity segments at 48,406 crore and 31,903 crore, as per data from the National Securities Depository (NSDL).
- Indian capital markets seem to be losing their ‘safe haven’ status among foreign portfolio investors as they appear headed for nearly USD 2-billion pullout of the so-called ‘hot money’ 2016, making it the worst period in last eight years in terms of foreign investments.
- The inflationary tendencies on the back of rising bond yields in the developed world bond market coupled with a resilient recovery in crude.
- Dollar strength and expectations of rate hike by the US Federal Reserve, the surprising US presidential outcome and the demonetisation drive, which created domestic cash crunch, sparked intense selling pressure in the capital markets.
- Strict regulation by SEBI especially for transparency in Offshore Derivative Instrument has impacted FII inflow for the fear of disclosure.
- Higher NPAs and provisioning made banking results unexciting and in the absence of investments, order flow for the capital goods industry slowed.
Therefore India can look to alternate avenues like promote FDI over FII as FII is hot money while FDI is more stable and long term. Also the environment of policy paralysis and corruption issues need to be tackled effectively.Investors need to see a reversal on both fronts to come back to invest in India.
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