France’s Rail Sabotage and Olympic Security Concerns, Fiscal Deficit in India, Sugar Mills to Bio-refineries

• In the early hours of July 26, a coordinated sabotage attack targeted France’s high-speed rail network (TGV), causing significant disruption just before the Paris Olympics opening ceremony.
• This incident represents a symbolic blow to France’s technical prowess and has raised serious security concerns.
• The saboteurs set fire to critical optical fibers and other cables in ducts along the rail network.
• This method is reminiscent of previous attacks by extreme left groups, though no claims of responsibility have been made.

Dig Deeper: Read about geo-political significance of Paris Olympic and geographical locations like Seine River.

• The Charaideo Moidams, a 700-year-old mound-burial system of the Ahom dynasty from Assam, were added to the UNESCO World Heritage List, making them the 43^rd property from India to be included.
• The announcement was made at the 46^th session of the World Heritage Committee in Delhi.
• Union Minister for Culture and Tourism highlighted the global recognition of Assam’s rich cultural heritage, comparing the Moidams to the pyramids of Egypt.
• The Ahoms switched to the Hindu method of cremation in the 18th century, entombing cremated bones and ashes in Moidams at Charaideo.
• The Moidams are the first cultural World Heritage Site in India’s northeastern states.
• Assam also home to two natural sites: Kaziranga and Manas National Parks.
• Nominated as India’s official entry in 2023, the Charaideo Moidams include 90 well-preserved examples out of 386 explored, representing the best of this tradition.

Dig Deeper: Also read about the Santiniketan and Hoyasala Temples which are included in World Heritage List last year.

• The government reduced the fiscal deficit target to 4.9% of GDP for FY 2024-25 from 5.1% in the interim Budget, signalling a commitment to a declining central government debt-to-GDP ratio.
• The fiscal consolidation path set in 2021 has been beneficial, with a goal to reach a deficit below 4.5% next year and maintain a declining debt-to-GDP ratio from 2026-27 onwards.
• In Budget 2023-24, the fiscal deficit was targeted at 5.9% of GDP but was revised down to 5.8%. Provisional actuals show FY24’s fiscal deficit at 5.6%.
• The reduction in FY24’s fiscal deficit is due to
• Compressed revenue expenditure
• Lower capital expenditure
• Higher tax revenues.
• Public finance metrics remain a weakness in India’s credit profile, with fiscal deficit, interest-to-revenue, and debt ratios still high compared to ‘BBB’ category peers.

Dig Deeper: Read provisions of FRBM Act 2003 and read whether its relevant today?

• The Indian Sugar & Bio-energy Manufacturers Association (ISMA) met with Union Minister of Food, Public Distribution, and Consumer Affairs, presenting a detailed proposal for transitioning sugar mills into bio-refineries.
• ISMA emphasized the potential for these units to produce bio-ethanol, bio-electricity, bio-gas, sustainable aviation fuel, green hydrogen, E-100, and 2-G ethanol.
• It highlighted the roadmap for enabling the 55 million Indian sugarcane farmers, who already supply raw material for automotive fuel, to also cater to aviation fuel needs.
• It is noted that the Centre recently unveiled of 400 E-100 (100% ethanol) pumps.
• Oil CPSEs are setting up 2G ethanol bio-refineries in the country at Panipat (Haryana), Bathinda (Punjab), Numaligarh (Assam), Bargarh (Odisha) and one demonstration project at Panipat.
• Bio-refinery at Panipat has been dedicated to the nation.

Dig Deeper: Read about Sustainable Aviation Fuel.