How Dry are India’s Reservoirs?  According to the Central Water Commission (CWC), the live storage in the 150 reservoirs was 113.417 billion cubic meters (BCM) as of 31st August, 2023, which was 63% of their total live storage capacity.  The water levels in the reservoirs varied across different regions and river basins. The southern region, which had a rainfall deficiency of 60% in August, had the lowest storage level of 49% of its combined capacity.  The eastern region, which received normal rainfall, had the highest storage level of 82% of its combined capacity.

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Decline in water level of Indian reservoirs
Context: -
India, a country heavily reliant
on monsoon rains, faced a significant
challenge in August 2023 with an
unprecedented rainfall deficit.
 As a result, the water levels in
the nation's crucial
reservoirs have experienced
a sharp decline, raising concerns about water supply for households,
industries, and power generation.
 August is typically a month when India's reservoirs see their water storage
levels increase significantly. However, August 2023 was an exception, as it
marked the driest August in over 120 years. Instead of the expected 255 mm
of rainfall, the country received only about 162 mm, resulting in a 36%
rainfall deficiency.
How Dry are India’s Reservoirs?
 According to the Central Water Commission (CWC), the live storage in
the 150 reservoirs was 113.417 billion cubic meters (BCM) as of 31st
August,
2023, which was 63% of their total live storage capacity.
 The water levels in the reservoirs varied across different regions and river
basins. The southern region, which had a rainfall deficiency of 60% in
August, had the lowest storage level of 49% of its combined capacity.
 The eastern region, which received normal rainfall, had the highest storage
level of 82% of its combined capacity.
 Some of the river basins that had highly deficient or deficient water levels
were:
o Highly Deficient:
 Pennar basin in Karnataka and Andhra Pradesh
 Mahanadi basin in Chhattisgarh and Odisha
o Deficient:
 Subarnarekha, Brahmani and Vaitarni basins in Jharkhand, West
Bengal and Odisha
 Kaveri basin in Karnataka and Tamil Nadu
 Mahi basin in western India
 Krishna basin in Maharashtra, Karnataka and Telangana
 Water storage in the reservoirs of the eastern, western, central and southern
regions, except the northern region is less than last year (2022).

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What Are the Consequences of this Water Scarcity?
 Agriculture:
o The reservoirs provide irrigation water for crops, especially during
the rabi season. The reduced water availability can affect crop
production and farmers’ incomes.
 Power:
o The reservoirs also supply water for hydropower generation, which
accounts for over 12% of India’s total electricity generation.
 Environment:
o The reservoirs also support biodiversity and ecosystem services, such
as flood control, groundwater recharge, fisheries and recreation. The
lower water levels can affect these functions and cause ecological
damage.
 Impact on Water Supply:
o India's annual rainfall primarily occurs during the southwest monsoon
season, making these reservoirs vital for water supply year-round. This
scarcity in water storage threatens households.
What are the Causes for the Rainfall Deficit?
 El Niño:
o El Niño is a climatic phenomenon that occurs when the sea surface
temperature in the central and eastern Pacific Ocean rises above
normal.
 Indian Ocean Dipole (IOD):
o The Indian Ocean Dipole (IOD) is defined by the difference in sea
surface temperature between two areas (or poles, hence a dipole) –
a western pole in the Arabian Sea (western Indian Ocean) and an
eastern pole in the eastern Indian Ocean south of Indonesia.
o The IOD affects the climate of Australia and other countries that
surround the Indian Ocean Basin, and is a significant contributor to
rainfall variability in this region.
Way Forward
 Promote efficient water management practices in agriculture, including the
adoption of drip irrigation and rainwater harvesting techniques.
o Encourage crop diversification and the cultivation of drought-
resistant crops to reduce the reliance on water-intensive farming.
 Water innovation initiatives, such as desalination, wastewater treatment,
smart water technologies, and climate-resilient agriculture, can help

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enhance water supply and efficiency and cope with water challenges and
uncertainties.
 Invest in renewable energy sources like solar and wind power to reduce the
dependency on hydropower generation, especially during dry periods.
 Raise awareness among the public about responsible water usage and the
importance of conservation.
Agriculture Infrastructure Fund (AIF)
Context: -
The Centre is promoting the Agriculture
Infrastructure Fund (AIF), a financing
facility launched in 2020.
What is the AIF scheme about?
 It is a Central Sector Scheme
approved by the Union Cabinet in
2020.
 It aims to provide a medium long-term debt financing facility for investment
in viable projects for post-harvest management Infrastructure and
community farming assets.
 The duration of the Scheme shall be from FY2020 to FY2032.
 Eligible beneficiaries include:
o Farmers, FPOs, PACS, Marketing Cooperative Societies, SHGs, Joint
Liability Groups, Agri-entrepreneurs, Start-ups, and Central/State
agency or Local Body sponsored Public Private Partnership Projects.
 Under the scheme, Rs. 1 Lakh Crore will be provided by banks and financial
institutions as loans.
 The loans are provided with interest subvention of 3% per annum and credit
guarantee coverage under CGTMSE for loans up to Rs. 2 crores.
What is the significance of the scheme?
 It provides support facilities to farmers and value chain actors for risk sharing
and market access.
 Improved marketing infrastructure will help farmers sell their produce
directly.
 With investments in logistics infrastructure, post-harvest losses can be
reduced.
 It also provides targeting State-specific APMCs and maintenance of sanitary
and phytosanitary standards for organic produce marketing and exports.

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 District, state or national level monitoring committees will reduce the
turnaround time for file processing to less than 60 days.
 The scheme tries to mitigate spatial and temporal risks in the agribusiness
ecosystem through adequate post-harvest infrastructure facilities.
How has the scheme performed till date?
 Finance allocation – The financing facility allocation to the States/UTs based
on the value of the output of agriculture and allied activities is skewed.
 Over 65% of the total funds were allocated to only eight States: Uttar
Pradesh, Rajasthan, Maharashtra, Madhya Pradesh, Gujarat, West Bengal,
Andhra Pradesh, and Tamil Nadu.
 In contrast, the allocation of AIF to Punjab and Haryana is 9%, and in North-
Eastern states, it is 3%.
 Integration with debt – AIF is integrated with debt, where the interest rate
subvention is facilitated up to ₹2 crore.
 So, the scheme’s success depends on the intention and ability of financial
institutions.
 Bankers look at the projects from their credit assessment lens, where
feasibility depends on the project and the promoter.
 Credit guarantee – Credit guarantee cover for eligible borrowers is available
for ₹2 crore, which is small for a standard project.
 Although there is a renewed focus on inclusivity and equity in the scheme,
offering grants-in-aid for underprivileged and women entrepreneurs may
increase the default (credit) risk.
 Large-scale integrated projects cannot be installed singly under this scheme.
 Convergence with other schemes remains a crucial enabler for its success.
 This scheme will be successful for farm-gate-led hub-and-spoke models
where the spokes with prescribed distance can be installed under this
scheme.
Central Bank Digital Currency (CBDC)
Context: -
The Reserve Bank of India (RBI) is
working with lenders to introduce new
features to popularise the central bank
digital currency (CBDC), in recent
times.

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About Central Bank Digital Currency (CBDC):-
 CBDC is fiat money or money established/backed by a
government through its central bank in a virtual form.
 It is a legal tender issued by a central bank in a digital form.
 It combines the power of blockchain with the logistics of distributed ledger
technology (DLT), where data can be synchronized across multiple
locations without the need for centralized storage.
Salient Features:-
 CBDC is a high-security digital instrument.
 It is a means of payment, a unit of account, and a store of value.
 Just like paper currency, each unit is uniquely identifiable to prevent
counterfeiting.
 It is a liability of the central bank just as physical currency is.
 It’s a digital bearer instrument that can be stored, transferred, and
transmitted by all kinds of digital payment systems and services.
Advantages:-
 CBDC is a faster system.
 Financial inclusion
 Improve Monetary policy facilitation.
 It can become a regional currency for cross-border transactions.
Bureau of Indian Standards (BIS)
Context: -
The Bureau of Indian Standards
(BIS) recently, reached 2.4 lakh Gram
Panchayats to create awareness and
promote compliance with Indian
standards.
Background:-
 The initiative aims to enhance the overall quality and safety of government
programs and schemes implemented at the village level.
About the Bureau of Indian Standards (BIS):-
 Establishment: 1986.
 Ministry: Ministry of Consumer Affairs, Food & Public Distribution.
 HQ: New Delhi.

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 The Bureau of Indian Standards (BIS) was established under the BIS Act,
1986 for the harmonious development of the activities of standardization,
marking, and quality certification of goods and for matters connected
therewith or incidental thereto.
 Objectives: harmonious development of the activities of standardization,
marking, and quality certification of goods and for matters connected
therewith or incidental thereto.
 BIS is the National Standard Body of India.
Historical Background:-
 It was formerly the Indian Standards Institution (ISI), set up under the
Resolution of the Department of Industries and Supplies in 1946.
 The ISI was registered under the Societies Registration Act, of 1860.
 A new Bureau of Indian Standards Act, 2016 which was notified on 22nd
March 2016, has been brought into force with effect from 12 October 2017.
 It reinforces the activities of BIS with respect to standardization and
certification of goods, articles, processes, systems, and services.
Composition:-
 President, Ex-officio: Hon’ble Minister for Consumer Affairs, Food and Public
Distribution, Government of India.
 Vice President, Ex-officio: Hon’ble Minister of State for Consumer Affairs,
Food and Public Distribution, Government of India.
Functions:-
BIS is involved in various activities as given below:-
 Standards Formulation
 Product Certification Scheme
 Compulsory Registration Scheme
 Foreign Manufacturers Certification Scheme
 Hall Marking Scheme
 Laboratory Services
 Laboratory Recognition Scheme
 Sale of Indian Standards
 Consumer Affairs Activities
 Promotional Activities
 Training Services, National and international level
 Information Services

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Phanigiri artifacts
Context: -
The Phanigiri artifacts, belonging to
200 BCE-400 CE were put on display at
the New York Metropolitan Museum of
Art.
Background:-
 The Phanigiri artifacts would be
displayed in the art collection of
the Tree and Serpent exhibition, which began at the New York Metropolitan
Museum of Art (popularly known as The Met) in July 2023.
 The exhibition has 125 objects between 200 BCE and 400 CE.
 The exhibition at The Met is on till November 13, 2023.
About the Phanigiri artifacts:-
 Discovered: 1942.
 Rediscovered: 2003.
 Location: Phanigiri,
 Phanigiri in Suryapet district is a small village of about 4,000
residents, about 150 km from Hyderabad.
 The Phanigiri Buddhist site is considered one of the most important finds in
Buddhist iconography in this millennium.
 Phanigiri means the hillock of snake hood.
Key Findings and their Significance:-
 The thoranas discovered at Phanigiri are very important as they are among
the first found south of Sanchi.
o The same thorana has a panel that shows both the Mahayana and
Hinayana school of thought.
o This shows that despite philosophical differences, both sects co-
existed in Phanigiri.
 There is evidence from Phanigiri that shows the deification of Buddha.
 The change from a historical and spiritual identity and a transition to
canonization and ritual is evident in Phanigiri.
 The artifacts from this site, include a limestone carving of Buddha
wearing what appears to be a Roman toga.