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Financial Inclusion Index (FI-Index)

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The Financial Inclusion Index (FI-Index) is a key measure of financial inclusion across India. The FI-Index stood at 64.2 in March 2024, up from 60.1 in March 2023, reflecting an overall improvement in financial inclusion across the country.

Overview of the FI-Index

  • Purpose: The FI-Index measures the extent of financial inclusion in India, covering various financial services sectors including banking, investments, insurance, postal services, and pensions.
  • Publication: Annually published in July.
  • Value Range: The index value ranges from 0 to 100, where:
  • 0 signifies complete financial exclusion.
  • 100 signifies full financial inclusion.

Parameters of the FI-Index

  • Access (35% weight): Measures the availability of financial services.
  • Usage (45% weight): Assesses the extent of usage of financial services.
  • Quality (20% weight): Evaluates the quality of financial services, including factors such as financial literacy, consumer protection, and service deficiencies.

Each parameter is further broken down into various dimensions, which are assessed using a total of 97 indicators.

Unique Features

  • Quality Parameter: The inclusion of the Quality parameter is a distinctive feature of the FI-Index, reflecting not just the availability and usage of financial services but also the quality of those services.
  • No Base Year: The index does not have a base year. Instead, it reflects cumulative efforts by various stakeholders over the years towards improving financial inclusion.

Recent Improvement

  • Growth in Sub-Indices: The increase in the FI-Index from 60.1 to 64.2 between March 2023 and March 2024 indicates growth in all sub-indices, demonstrating progress in various aspects of financial inclusion.

The FI-Index serves as a comprehensive tool to track and analyze financial inclusion progress and helps in identifying areas that need further improvement

India's Sports Ecosystem: Current State and Challenges

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India's Olympic performance has drawn attention due to a significant drop in rankings. The country's rank fell from 48th in Tokyo 2020 to 71st in Paris 2024. In Paris, India won six medals (one silver and five bronze), a decrease from seven medals (one gold, two silver, and four bronze) in Tokyo. Despite this decline, Paris 2024 was India’s third-best Olympic performance, surpassing Rio 2016’s two medals. This slide contrasts with improved performances in other international events like the 2022 Commonwealth Games and 2021 Summer Deaflympics, highlighting persistent gaps in India’s sports ecosystem.

Structure of India’s Sports Ecosystem

  • Responsibility and Governance:
  • State vs. Central Government: Sports is primarily a state subject, meaning that state and UT governments are responsible for promoting and developing sports, including providing necessary facilities. The central government supplements these efforts through various schemes.
  • Central Initiatives: The central government has introduced several schemes like Khelo India and the National Sports Development Fund to support sports development.
  • Economic and Social Impact:
  • Revenue and Soft Power: Sports contribute significantly to revenue generation, national pride, and soft power. It also plays a crucial role in enhancing the general health and well-being of athletes.
  • Participation Rates: Despite these benefits, only around 6% of India's population actively participates in sports, compared to around 20% in countries like the US and Australia, and as high as 60% in Japan.

Challenges in India’s Sports Ecosystem

  • Talent Identification and Scouting:
  • Limited Representation: India, despite being the world's most populous country, sent only 117 athletes to the Paris Olympics, far fewer than the 594 from the US, 572 from France, and 460 from Australia. This is due to insufficient early-stage talent identification and scouting mechanisms.
  • Resource Constraints:
  • Low Budget: India’s sports budget is relatively low compared to countries like the US, Germany, and China. Issues with fund utilization have been reported; for example, the Khelo India scheme spent only Rs 318 crore of the Rs 500 crore allocated in 2019-20.
  • Infrastructure Gaps:
  • Uneven Distribution: Sports infrastructure is lacking, particularly in educational institutions and less developed states such as Bihar and Jharkhand. Most facilities that meet international standards are concentrated in states like Haryana, Punjab, and Karnataka.
  • Governance Issues:
  • Corruption and Mismanagement: Sports governance in India is often plagued by corruption and unethical conduct. For example, allegations of sexual harassment by the Wrestling Federation of India (WFI) president and coaches surfaced in January 2023.
  • Mismanagement: Issues such as Vinesh Phogat’s disqualification from the Paris Olympics for being slightly overweight and Antim Phangal's loss due to exhaustion after extreme weight loss highlight serious mismanagement problems.
  • Other Challenges:
  • Awareness and Support: There is a lack of awareness about sports opportunities and government support. Additionally, there is a shortage of qualified coaching staff and gender disparities in sports participation.
  • Private Sector Involvement: Attracting private sector support remains a challenge, impacting overall sports development.

Initiatives to Promote the Sports Ecosystem in India

Government Programs and Schemes

  • Increased Budgetary Support:
  • Funding Boost: The budgetary allocation for the Union Ministry of Youth Affairs and Sports has nearly doubled from 2014-15 to 2023-24. This increased funding is aimed at enhancing various sports development programs and infrastructure.
  • Khelo India Program:
  • Grassroots Development: The Khelo India program focuses on identifying and nurturing talent at both grassroots and elite levels. It aims to develop a robust pipeline of athletes through various initiatives and training programs.
  • Khelo India Rising Talent Identification (KIRTI) Program:
  • Talent Hunt: KIRTI targets school children aged 9 to 18 years to identify promising athletes from every corner of the country. The program aims to discover and develop young talent early on.
  • Mainstreaming of Sports Activities:
  • FIT India Movement: Promotes physical fitness and sports participation across the country.
  • National Education Policy 2020: Incorporates sports and physical education into the curriculum, encouraging students to participate in sports activities.
  • National Sports Development Fund (NSDF):
  • Funding for Medal Prospects: This fund supports developmental athletes who have potential medal prospects for the Olympic Games. Contributions can be made by corporate entities and public sector undertakings.
  • Target Olympic Podium Scheme (TOPS):
  • Comprehensive Assistance: Provides financial support, specialized equipment, international exposure, top-tier coaching, and a monthly allowance to India’s top athletes, aiming to help them achieve their Olympic goals.
  • One School-One Sport Policy:
  • Focused Training: Implemented by the Ministry of Defence for Sainik Schools, this policy ensures that each school focuses on a specific sport, improving training and development in that discipline.
  • Use of Technology:
  • Data Analytics: Artificial Intelligence and data analytics are utilized to predict and enhance the sporting potential of aspiring athletes, improving talent identification and development processes.

Way Forward for Strengthening India’s Sports Ecosystem

  • Driving Mindset Change:
  • Awareness Campaigns: Educate parents about the benefits of sports accreditation, including reservations at higher educational institutes and preferences in government jobs.
  • Corporate Wellness: Encourage corporates to view sports as a means for employee wellness and integrate it into their corporate culture.
  • Increasing the Talent Pool:
  • Youth Engagement: Implement more school tournaments and community-based sports programs. Provide nutrition support and address social barriers and gender inequality in sports.
  • 'One Panchayat, One Playground': The Kerala Government’s initiative can be promoted across states to encourage grassroots sports participation.
  • One State-One Sport Policy: Promote traditional sports specific to each state to ensure mass participation and generate interest.
  • Local Sports Mega Events: Organize events like ‘Rural Olympics’ to enhance community engagement in sports.
  • Improving Governance Structure:
  • Transparency and Accountability: Reform sports federation governance by ensuring independent recruitment for top positions and transparent functioning.
  • Corporate Funding and Support:
  • Incentivizing Sports NGOs: Encourage the formation of NGOs specializing in sports to attract corporate funding.
  • Sponsoring Leagues: Support leagues in sports like Badminton, Football, Tennis, and Volleyball to increase visibility and investment.
  • Supporting Multiple Disciplines:
  • Diversified Sponsorship: Leverage successful models like the IPL for other sports, promoting leagues and facilities for a variety of disciplines.
  • Ensuring Accountability:
  • Performance Metrics: Implement metrics for evaluating nutritionists and support staff, ensuring accountability for any mismanagement.

About the Olympic Games

  • Genesis: The Olympic Games began in 1896 in Athens with 14 nations competing in nine sports. The Games are held every four years.
  • Motto: "Faster, Higher, Stronger," reflecting the aim of the Olympic movement from athletic, technical, moral, and educational perspectives.
  • Olympic Flag: Introduced in 1920, featuring five interlocking rings symbolizing the five parts of the world involved in the Olympic movement.
  • Olympic Flame: Represents positive values, and the torch relay carries the flame through the host country months before the Games.
  • Paris 2024: Introduced four new sports: breaking (debuting), sport climbing, skateboarding, and surfing.
  • Court of Arbitration for Sport (CAS): Established in 1983 to address legal issues faced by athletes, recognized by the Paris Convention signed by IOC officials.

India and the Olympics

  • Historical Participation: India first participated in the Olympics in 1900 in Paris with Norman Pritchard.
  • Indian Olympic Association (IOA): Founded in 1927 and recognized by the IOC the same year. The IOA coordinates with National Sports Federations to manage India's participation in international games.

The Constitution of India and France

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The recent news involves the resignation of the French Prime Minister and the subsequent appointment of a caretaker government until a new government is formed. This situation highlights the operational aspects of the French Constitution and its parallels with other constitutions, such as India’s.

Similarities Between the Constitutions of India and France

  • Historical Context and Inspiration
  • France: Transitioned from a monarchy to a republic following the French Revolution of 1789. The current Constitution is the Fifth Republic’s, adopted in 1958. Previous republics included the First Republic (1793), Second Republic (1848), Third Republic (1875), and Fourth Republic (1946).
  • India: The French Revolution’s ideals of liberty, equality, and fraternity influenced India’s struggle for independence. Tipu Sultan, the ruler of Mysore, symbolically embraced these ideals by planting the Tree of Liberty in his capital.
  • Written Constitution
  • Both France and India have a written constitution. This document serves as the supreme law of the land, outlining the framework for governance and the fundamental rights of citizens.
  • Ideals
  • Both constitutions are based on the principles derived from the French Revolution: liberty, equality, and fraternity. These ideals underpin the values and goals enshrined in their respective constitutions.
  • Popular Sovereignty
  • Both nations practice popular sovereignty, meaning that the authority of the government is derived from the consent of the governed. This principle is reflected in the system of universal adult franchise, allowing all eligible citizens to vote in elections.
  • Bicameral Legislature
  • Both countries have a bicameral parliament:
  • France: The French Parliament consists of the National Assembly (lower house) and the Senate (upper house). Members of the National Assembly are elected by direct universal suffrage for a five-year term. Senators are elected through indirect universal suffrage and the Senate is renewed by half every three years.
  • India: The Indian Parliament consists of the Lok Sabha (lower house) and the Rajya Sabha (upper house). Members of the Lok Sabha are elected by direct universal suffrage for a five-year term. Members of the Rajya Sabha are elected by the State Legislatures and appointed by the President, with a term of six years, and one-third of the members retire every two years.
  • Emergency Provisions
  • Both constitutions provide for emergency provisions:
  • France: The French Constitution allows the President to declare a state of emergency under certain circumstances, such as during a threat to the nation’s integrity or security.
  • India: The Indian Constitution has provisions for three types of emergencies: National Emergency, State Emergency, and Financial Emergency, each providing the central government with special powers to address various crises.

Contrasting Features of the Constitutions of India and France

Mechanism of Expressing Popular Sovereignty

  • India:
  • Representation: Popular sovereignty is exercised primarily through elected representatives in the Parliament. The citizens elect their representatives, who then make decisions on their behalf.
  • France:
  • Representation and Referendum: In addition to electing representatives, French citizens can directly participate in governance through referendums. This allows them to vote on specific issues or laws, giving them a more direct role in decision-making.

President as Head of State

  • India:
  • Election: The President is elected indirectly by an electoral college for a five-year term. There is no limit on the number of terms a President can serve.
  • France:
  • Election: The President is elected directly by universal suffrage for a five-year term. A President can serve a maximum of two consecutive terms, after which they must take a break before seeking office again.

System of Government

  • India:
  • Parliamentary System: India follows a parliamentary system of government. It is federal in structure with certain unitary features, meaning that while it has a federal division of powers between the central and state governments, the central government can assert authority in specific situations.
  • France:
  • Semi-Presidential System: France operates under a semi-presidential system. This system features both a President and a Prime Minister. The President, elected by direct universal suffrage, holds substantial powers, and there is also a Prime Minister who manages the government. This system blends elements of presidential and parliamentary systems.

Prime Minister as Head of Government

  • India:
  • Role and Structure: The Prime Minister heads the Council of Ministers, which aids and advises the President. The Constitution outlines the roles and responsibilities of the Council of Ministers. The President appoints the Prime Minister and other ministers based on the Prime Minister’s recommendations. The structure and tasks of the Council of Ministers are clearly defined in the Constitution.
  • France:
  • Role and Flexibility: The President appoints the Prime Minister and the members of the government. The Prime Minister's responsibilities and the roles of government ministers are not strictly defined by the Constitution. Instead, these are determined by both the President and the Prime Minister, allowing for more flexibility in their functions and the organization of the government.

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