March 4th 2025 Current Affairs

Index:

1. Gangetic Dolphin Survey 2024

Key Findings

Total Population: 6,327 Gangetic dolphins recorded in India.
Gangetic River Dolphins: 6,324
Indus River Dolphins: 3

Geographical Distribution

Ganga Main Stem: 3,275
Ganga Tributaries: 2,414
Brahmaputra Main Stem: 584
Brahmaputra Tributaries: 412
Beas River: 101

States with Highest Population

Uttar Pradesh (highest)
Followed by Bihar, West Bengal, and Assam

Survey Details

Conducted by the Environment Ministry
Started in 2021, covering 8,507 km of river stretch
Used acoustic hydrophones to detect dolphin sounds

Challenges in Counting Dolphins

Dolphins surface only sporadically, making visual detection difficult
No unique physical markers like stripes (tigers) or ears (elephants)
Possibility of double counting, tackled using hydrophones and multiple observers

Conservation Measures

Gangetic dolphins are crucial for river health monitoring
Threats: Pollution, habitat destruction, fishing nets
Initiatives: Local populations in the Gangetic States identified for conservation efforts

Awareness: School children encouraged to visit dolphin habitats

2. Cities Coalition for Circularity (C-3)

Context

India launched Cities Coalition for Circularity (C-3), a multi-nation alliance for sustainable urban development.
Focus on city-to-city collaboration, knowledge sharing, and private sector partnerships.
Aim: Waste management and resource efficiency in the Asia-Pacific region.

Key Themes

Reduce, Reuse, Recycle (3R):

Emphasized by PM Narendra Modi under the Pro-Planet People (P3) approach.
Highlights circular economy principles for sustainable urban development.

International Collaboration:

India proposes a working group of member nations to finalize the framework of the coalition.
CITIIS 2.0 MoU signed at Jaipur launch event.

Financial Commitments:

Union Minister Manohar Lal announced agreements worth ₹1,800 crore.
18 cities across 14 states to benefit under this initiative.

Environmental Impact

Regional 3R and Circular Economy Forum (Asia-Pacific) launched in 2009 for:
Sustainable waste management
Resource efficiency
Circular economy principles
Hanoi 3R Declaration (2013-2023):

Outlined 33 voluntary goals for a resource-efficient and circular economy.

3. Supreme Court on Regulation of Vulgarity Online

Context

The Supreme Court (SC) has sought regulatory measures to control the use of filthy language and vulgarity in online content.
The focus is to maintain morality and decency in streamed programs without censorship.

Observations by the Court

Justice Surya Kant:
Humour should be family-friendly and not rely on filthy language.
True talent lies in using ordinary words for humour.
Regulation vs. Free Speech:
SC emphasized ensuring content adheres to moral standards while respecting freedom of speech.
Any restriction should be a reasonable limitation to uphold decency and morality.
The court seeks stakeholder inputs for a healthy debate on the matter.

Case Context: Ranveer Allahbadia’s Podcast Ban

Issue: His comments on the show “India Got Latent” led to restrictions on his content.
SC Decision:
Modified the restriction, permitting the resumption of “The Ranveer Show”, provided it follows morality and decency
Ensures content remains suitable for all age groups.

Arguments Presented

Petitioner’s Argument (Ranveer Allahbadia’s Lawyer):
Ban on podcasts and shows would affect his livelihood.
No sense of humour was involved in the alleged offensive comments.
Solicitor-General Tushar Mehta:

Humour should not rely on obscenity; true comedy should be genuinely funny without offensive language.

4. India's Economic Growth in Q3FY25

Context

Real GDP Growth: 2% in Q3FY25 (compared to 5.6% in Q2FY25).
Slowest growth since Q4FY23 (except for Q2FY25).
Government’s 6.5% full-year growth target seems unlikely due to global headwinds and domestic slowdown.

Sector-wise Growth Trends

Primary Sector:

Value-add increased to 5.2% (from 1.8% last year).
Helped sustain overall GDP growth.

Manufacturing & Services (Secondary & Tertiary Sectors):

Manufacturing growth fell to 4.8% (from 12.4% last year).
Services growth slowed to 7.4% (from 8.3% last year).
Weakness due to global trade uncertainties.

Challenges & Risks

Trade Uncertainty:
S. tariffs: 25% import tariff on steel and proposed 25% tariff on pharmaceuticals.
India’s dependency on the U.S.: 31% of India’s pharma exports ($8.7 billion) go to the U.S.
Firms may pivot production to the U.S., impacting India’s trade revenue.
Inflation & Domestic Demand:
Inflation projected at 4.8% in FY25, expected to ease to 4.2% in FY26.
Moderation in inflation helped increase government spending (+8.3%) and private consumption (+6.9%).

Data & Methodology Concerns

NSO’s Revision in GDP Estimates:
Methodological changes based on “industry-wise/institution-wise” information.
Lacks clarity on its impact on data quality and accuracy.

Need for more transparent revisions to ensure data reliability.

5. Ukraine Ceasefire Plans & Global Reactions

Context

European nations, led by Britain and France, are discussing possible ceasefire proposals for the Ukraine war.
France proposed a one-month ceasefire as an initial step toward peace talks.
Discussions follow a meeting between Donald Trump and Ukrainian President Volodymyr Zelenskyy in the U.S.

Key Stakeholders & Their Positions

United Kingdom (UK):

Acknowledges multiple proposals but avoids detailed commentary.

France & Britain:

Considering sending troops to Ukraine, but not for direct war involvement.
France suggests a temporary ceasefire to test Russia’s intentions for peace.

United States (US) & Trump’s View:

Trump claims Zelenskyy “doesn’t want peace” and questions continued American support.
White House security officials say European involvement is welcome but needs investment in defense capabilities.

Ukraine’s Position:

Zelenskyy rejects a ceasefire without explicit security guarantees ensuring Russia will not attack again.
Asserts that European military support alone is not enough without US backing.

Russia’s Reaction:

Kremlin spokesman Dmitry Peskov dismisses the US and Europe’s efforts as insufficient for ending the war.
Suggests that Russia may push for a tougher deal than it did in 2022 peace talks, which Ukraine rejected.

Geopolitical Implications

European Troop Deployment:
France and Britain’s willingness to send troops (not for combat) may escalate tensions.
US-EU Relations:
Europe is seeking greater US involvement, but Trump and sections of the US question continued military aid.
Russia’s Negotiation Tactics:
Russia may demand more concessions, such as Ukraine adopting neutrality, reducing military size, and avoiding NATO.
Potential for Peace Talks:
The one-month ceasefire proposal could test Russia’s commitment to peace.

Lack of US endorsement may weaken the proposal’s effectiveness.

6. Rise in Women Seeking Retail Credit

Context

The number of women availing retail credit in India has nearly tripled between 2019 and 2024.
This reflects a changing financial behavior with more women leveraging credit for personal and professional goals.
Growth rate: 22% CAGR (Compound Annual Growth Rate) over five years.

Key Trends

Increase in Credit Demand

Women’s share in business loans and gold loans increased by 14% and 6%, respectively, since 2019.
In 2024, 36% of all loans availed by women were gold loans (up from 19% in 2019).
Women from semi-urban and rural areas account for 60% of borrowers.

Types of Loans Preferred by Women

Gold loans dominate: 38% of all loans taken by women are against gold.
Personal finance loans (personal, consumer durable, homeownership loans) are the major share of women’s borrowing.
Business credit for women remains low, with most loans being collateral-backed.

Challenges for Women Borrowers

Credit aversion and poor banking experience.
Lack of collateral and guarantees for business loans.
Barriers to credit readiness (financial literacy, documentation issues).

Growth in Self-Monitoring of Credit Health

Women checking their credit scores increased by 42% (from 18.9 million in Dec 2023 to 26.92 million in Dec 2024).
Self-monitoring helps in informed financial decision-making and entrepreneurship.

Demographic Insights

Gen Z (born mid-1990s to early 2010s) accounts for 19.43% of the total self-monitoring base (up from 17.89% in 2023).
Indicates growing financial awareness among young women.

Implications for Economy & Society

Financial Inclusion: More women entering the formal credit system.
Women Entrepreneurship: Business loans remain underutilized, requiring better support systems.
Economic Growth: More women leveraging credit can boost consumption and investments.

Policy Considerations: Need for targeted schemes to improve women’s access to unsecured credit.

7. Trump's Focus on Virtual Digital Assets & Crypto Reserve

Context

Former US President Donald Trump has announced plans to create a “Crypto Strategic Reserve” if re-elected.
He named five cryptocurrencies to be included in this reserve:
Bitcoin (BTC)
Ethereum (ETH)
XRP
Solana (SOL)
Cardano (ADA)
This move has given a boost to the crypto market, leading to a sharp rise in prices.

Key Announcements & Market Impact

Rationale Behind the Crypto Reserve

Trump cited concerns over attacks on the crypto industry by the Biden administration.
Advocated for US dominance in the digital asset space, calling the US “the Crypto Capital of the World.”

Market Reactions

Bitcoin surged over 8%, crossing $90,000.
Ethereum rose 10%, trading at over $2,000.
XRP increased nearly 25%, Solana jumped 18%, while Cardano surged 60%.
Prices rose due to speculation that Trump might ease regulations on cryptocurrencies.

Concerns & Risks

Volatility: Cryptocurrencies remain highly volatile.
Fraud & Scams: Example of Argentina’s failed “Libra” coin, promoted by President Javier Milei.
Regulatory Issues: The US SEC (Securities and Exchange Commission) has been investigating crypto firms.

Potential Policy Influence

Trump may appoint crypto-friendly regulators like Paul Atkins to the SEC.
Speculation that Elon Musk (a crypto advocate) may join as an adviser.

Geopolitical & Economic Implications

Trump’s trade policies, including tariff wars, add uncertainty to markets.
US government’s stance on crypto regulations could impact global markets.