DAILY NEWS ANALYSIS

Concerns of NCW Regarding Sexual Assault

• The Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redress) Act, 2013, and the rules created must be strictly implemented, according to the National Commission of Women (NCW), which has expressed concern over occurrences of sexual harassment at coaching centers and educational institutions.
• One of the most urgent challenges impacting women worldwide in recent years is sexual harassment at the job.
• The NCW received about 31,000 reports of crimes against women in 2022, which was a record high compared to 2014.

About Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act:

• The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act was passed in 2013.
• It defines sexual harassment, outlines the processes for filing a complaint and conducting an investigation, and specifies the appropriate course of action.

Successor to:

• It expanded the already-established Vishaka guidelines.
• The Act defines sexual harassment at work and establishes a procedure for handling complaints.
• Additionally, it offers defences against erroneous or malicious accusations.

Obligation:

• Each office or branch with ten or more employees must have an Internal complaints committee established.
• A Local Complaints Committee must be established by the District Officer in each district and, if necessary, at the block level.

Committees for complaints:

• The ICC has similar authority as a civil court in regards to calling any individual to appear before it, having them testify under oath, and ordering the production of documents.
• If the complainant requests it, the complaints committees must provide conciliation before opening an investigation.

Vishaka Guidelines:

• In 1997, the Supreme Court established the Vishaka rules.
• Vishaka was one of the women's rights organizations that brought the lawsuit into question.
• They had brought a public interest lawsuit (PIL) on the alleged gangrape of Rajasthani social worker Bhanwari Devi.
• She had allegedly stopped the 1992 gangrape as retaliation for stopping the marriage of a one-year-old girl.

The Causes of the Rise in Sexual Assault:

The history of violence against women is long. Since the beginning of society, women have been compelled to endure mistreatment, harassment, torture, humiliation, and exploitation. Rape is a severe problem in India. The issue has several different aspects, including:

Treating Women as Lesser:

• Even the most fundamental principles of gender equality are still difficult for our society to accept. We continue to have alarmingly high rates of teen pregnancy, domestic abuse, and rape in marriage.
• The idea that women are less significant is ingrained in the psyche of the average person. This demonstrates that it is widespread because it fosters male superiority in the notion that women exist to serve men.

Women are underrepresented in politics:

• According to research, can result in more and better legislation protecting women's welfare. 48% of people in India are women. However, women only make up 12% of the national legislature.

The lack of gender education:

• Whether in our homes, classrooms, or workplaces, Indians often feel uncomfortable discussing sexuality, reproductive rights, menstruation, or sexual desire. The main cause of the issue might be resolved with some minor adjustments to teenage education and perhaps even sooner in primary school.

The Difficult Road to Justice:

• There are simply too many laws and not enough justice in India. The Verma Committee, established in response to the Delhi rape case of 2012, advised that attention be paid to implementation and sensitivity on the ground rather than new law introduction.

SHe-Box:

• In order to make it easier for women to report sexual harassment, the Ministry of Women & Child Development launched the Sexual Harassment Electronic Box (SHe-Box), which offers a single point of access to all women, regardless of their employment status, whether they are employed in the organized or unorganized, private or public sector.
• Through this platform, any woman experiencing sexual harassment at work may file a complaint.
• When a complaint is made using the "SHe-Box," it is immediately forwarded to the relevant authority with the authority to investigate the situation.

Way Forward

• Giving women security increases both their freedom and the right to live a dignified life as per their choices. Moral education with gender equity and respect for women should be not only taught in schools but also within families, in order to make the society more gender inclusive.

Indian Rupee Depreciation

• In 2022, the Indian Rupee saw a 10% decline against the US dollar, making it the worst-performing Asian currency.
• This decrease was mostly caused by the US dollar's rise as a result of its safe-haven appeal during global recession and inflation fears as well as the Russia-Ukraine war.

In 2022, How did the rupee perform?

• The rupee hit a record low against the dollar of 83.2 during the year. Other Asian currencies depreciated to a lower amount than the rupee.
• The value of the Chinese Yuan, Philippine Peso, and Indonesian Rupiah declined by about 9% during the year. Malaysian Ringgit and South Korean Won both had declines of between 6% and 7%, respectively.
• The Reserve Bank of India (RBI), however, actively interfered in the foreign exchange market to support the rupee. The nation's foreign exchange reserves have decreased by USD 70 billion since the start of 2022. As of December 23, 2022, it was worth USD 562.81 billion.
• Although there has been some erosion of reserves, the central bank is now beginning to rebuild them, which will serve as a safety net in uncertain times.

What caused capital outflows, and why?

• In 2022, the US Fed aggressively increased interest rates by 425 basis points (bps) to combat inflation. Due to the increased interest rate difference between the US and India as a result, investors began to invest in the US market instead of the domestic one in order to benefit from the higher rates.
• The highest-ever yearly net outflow was made by Foreign Portfolio Investors (FPIs) in 2022 when they withdrew Rs 1.34 lakh crore from Indian markets.
• The currency was under pressure in 2022 as they withdrew Rs 1.21 lakh crore from the equity markets and Rs 16,682 crore from the debt market.
• The invasion of Ukraine by Russia aggravated the FPI withdrawals, while the global economic recession made it more difficult for inflows.

What would the depreciation's effects be on the Indian economy?

Positive:

• In theory, a weaker rupee should increase India's exports, but given the current state of global uncertainty and the country's weak demand, this may not be the case.

Negative:

• It raises the possibility of imported inflation and may make it more challenging for the central bank to sustain historically low-interest rates for a longer period of time.
• Over two-thirds of India's domestic oil needs are satisfied by imports.
• Among the major importers of edible oils is India.
• A weaker currency will drive up the price of imported edible oil and food inflation.

What is the Rupee Forecast for 2023?

• Although the outlook for the rupee is still bleak in the immediate term, India's economy continues to grow at the quickest rate, thus the local currency's decline may not last much longer.
• Although the US Fed's terminal interest rate was anticipated, their monetary policy cannot continue to be tightened indefinitely.
• The tide will undoubtedly change once the (US Fed) tightening is completed.

Strait Of Hormuz

• The military of the United Arab Emirates and Iran recently began their yearly drill in the Gulf of Oman's coastal region and close to the vital Strait of Hormuz.
• The exercises are designed to increase preparation for dealing with outside threats and potential invasions.

About Strait of Hormuz:

• A fifth of all oil sold at sea passes through the strait, which is at the mouth of the Persian Gulf and is vital to the world's energy resources.
• The waterway connects the Persian Gulf to the Gulf of Oman and the Arabian Sea while dividing Iran and Oman.
• The shipping route is only three km wide in each direction, despite the Strait being 33 km wide at its narrowest point.
• The majority of crude exported by the Organization of the Petroleum Exporting Countries (OPEC) members Saudi Arabia, Iran, the United Arab Emirates, Kuwait, and Iraq is transported through this canal.
• Additionally, it is the route taken by almost all of the liquefied natural gas (LNG) produced by Qatar, the largest LNG exporter in the world.