26 March 2025 Indian Express Editorial


What to Read in Indian Express Editorial (Topic and Syllabus wise)

Editorial 1 : Vision to Victory

Context: How India is winning the fight against TB

 

100-Day Intensified TB Mukt Bharat Abhiyaan

  • Objective: To accelerate TB case detection, reduce mortality and prevent new TB infections through early intervention.
  • Key Achievements
    1. Screening & Detection
      • 12.97 crore people screened across vulnerable populations.
      • 7.19 lakh TB patients notified, including 2.85 lakh asymptomatic cases identified through advanced methods.
    2. Impact
      • Disrupted TB transmission chains by diagnosing contagious cases early.
      • Highlighted as a turning point in India’s TB elimination efforts.

 

Innovative Strategies for Early TB Detection

  • Technological Interventions
  1. Portable AI-Powered X-ray Machines: Deployed for high-risk groups (diabetics, smokers, HIV patients, etc.).
  2. Instant Diagnosis: AI flagged suspected cases, confirmed via Nucleic Acid Amplification Tests (NAAT).
  3. Targeted Screening: Focused on congregate settings (prisons, mines, workplaces) with 4.17 lakh vulnerable individuals tested.
    • Programmatic Strengthening
  4. Differentiated TB Care: Personalized treatment plans (e.g. nutrition strategies for underweight patients).
  5. Faster Treatment: Ensured quick isolation and care for contagious cases.

 

Community Mobilization and People’s Participation

  • Grassroots Engagement
    1. Leadership Involvement: Over 30,000 elected representatives (MPs, MLAs, local leaders) participated.
    2. Nikshay Shivirs: 13.46 lakh camps organized for awareness and screening.
    3. Educational Institutions: 7.7 lakh students across 78,000 institutions engaged in TB awareness activities.
  • Cross-Sectoral Collaboration
    1. Corporate & Civil Society: 21,000+ activities with PSUs, trade associations, and NGOs.
    2. Festival Integration: TB awareness drives during festivals via faith leaders and influencers.
  • Nutritional & Psychosocial Support
    1. Ni-kshay Mitra Initiative: 1.05 lakh new donors enrolled to provide food baskets and vocational aid.
    2. Enhanced Financial Assistance: Monthly nutrition support doubled from ₹500 to ₹1,000 under Ni-kshay Poshan Yojana.

 

Whole-of-Society & Whole-of-Government Approach

  • Inter-Ministerial Collaboration: 22 ministries integrated TB awareness into public programs (e.g. Goa Carnival floats, school assemblies).
  • Public Awareness
    1. Creative campaigns (e.g. SME cluster offices offering free screenings).
    2. Focus on dispelling stigma and misinformation.

 

Way Forward

  • Nationwide Scale-Up: Expand diagnostics and treatment access to remote areas.
  • Next-Gen Diagnostics: Investments in rapid, accurate testing inspired by COVID-19 strategies.
  • Sustain Momentum: Leverage lessons from Swachh Bharat and polio eradication to institutionalize community-led action.

 

Conclusion: India aims to eliminate TB by ensuring equitable access to care and sustaining public engagement. It will require a fusion of technology, community mobilization and policy innovation, along with shift from government-led to collective societal responsibility.

Editorial 2 : Let Our Money Travel

Context: RBI and government must allow retail investors to look beyond India

 

RBI’s Capital Controls

  • Objective: To mitigate rupee depreciation by curbing capital outflows.
  • Key Interventions
    1. Liberalised Remittance Scheme (LRS): Allows individuals to remit up to $200,000 annually for foreign investments.
    2. Mutual Fund Limits
      • $7 billion aggregate cap since 2009 on mutual fund investments in foreign securities.
      • ETF cap: $1 billion (frozen since 2009).
    3. Current Status: Mutual funds hit the $7 billion limit in February 2022, blocking fresh investments.

 

Impact on Retail Investors

  • Restricted Diversification
    1. Indian investors are confined to domestic markets (2% of global market share vs. 61% for the U.S.).
    2. Missed opportunities in high-growth sectors (e.g. tech giants like Google, AI leaders).
  • Wealth Inequality
    1. Affluent Investors: Use LRS to access global markets (despite higher transaction costs).
    2. Average Investors: Limited to domestic options due to mutual fund caps.
  • Suppressed Demand for Global Exposure
    1. Mutual fund investments in foreign assets surged from $1 billion in April 2020 to $ 7.7 billion in December 2021.
    2. This reflects strong retail interest despite regulatory hurdles.

 

RBI’s Justification and Critique of Capital Control

  • RBI’s Stated Rationale: Reduce capital outflows to prevent rupee depreciation.
  • Critique
    1. Ineffectiveness
      • Mutual fund outflows are negligible compared to overall capital flows. (e.g. FPI inflows of $18.7 billion in 2022).
      • Currency value is influenced more by trade balances, FDI, and global macroeconomic trends.
    2. Cost-Benefit Mismatch
      • Cost: Denies diversification benefits, inflates domestic asset prices.
      • Benefit: Minimal impact on rupee stability.

 

Market Dynamics and Equity Concerns

  • Global Diversification Benefits
  1. Historical Returns: U.S. equity markets delivered 6.5% annualized real returns since 1900 (highest among major economies).
  2. Risk Management: A balanced portfolio requires mix of domestic/international assets to mitigate risk.
    • Inequitable Access: Wealth Disparity
  3. LRS favours wealthy investors who can afford complex processes (brokers, international accounts).
  4. Middle-class investors rely on mutual funds, which are restricted.

 

Long-Term Risks of Regulatory Overreach

  • Distorted Asset Prices: Restrictions inflate demand for domestic assets, raising valuations unsustainably.
  • Stifled Financial Innovation: Limits mutual funds’ ability to design global investment products.
  • Erosion of Investor Confidence: Arbitrary caps contradict India’s deregulation agenda for financial markets.

 

Way Forward: Recommendations

  • Revisit Mutual Fund Caps: Increase or remove limits to align with global diversification needs.
  • Enhance Retail Access: Simplify LRS processes to democratize foreign investments.
  • Transparent Cost-Benefit Analysis: Evaluate if capital controls truly stabilize the rupee or merely penalize retail investors.

 

Conclusion: The current restrictions disproportionately harm retail investors while offering limited currency stability benefits. Policymakers must balance short-term currency goals with long-term financial inclusivity and market efficiency.