Current Affairs – November, 2018

Latest Current Affairs November, 2018 with Current Affairs, news summary on current events of National and International importance of November, 2018 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Gender wage gap highest in India, women are paid 34% less than men: ILO

According to Global Wage Report 2018-19 published by International Labour Organization (ILO), women are paid most unequally in India, compared to men, when it comes to hourly wages for labour. This gap in wages, known as gender wage gap is the highest among 73 countries studied in the report. The findings are based on data from 136 countries.

Highlights of report

On average, women are paid 34% less than men in India. Globally, on average, hourly wages of women are 16% less than those of men. Inequality is higher in monthly wages, with a gap of 22%. Overall, real wages grew just 1.8% globally (136 countries) in 2017.Women are paid higher hourly wages than men in Bangladesh. Gender wage gap highest in India, women are paid 30% less than men.

In most countries, women and men differ significantly in respect of working time – specifically, that part-time work is more prevalent among women than among men. The gender wage gap is visible even with women with higher levels of education. Emphasis needs to be placed on ensuring equal pay for women and men.

The gender wage gap has remained unchanged at 20% from 2016 to 2017. But in 2017, gender gap was accompanied by near-stagnation in wages. Real wage growth was lowest since 2008, the year of the financial crisis. In real terms (adjusted for price inflation), global wage growth declined to 1.8% in 2017, from 2.4% in 2016.

In advanced economies (G20), real wage growth declined from 0.9% in 2016 to 0.4% in 2017, meaning near stagnation. By contrast, in emerging economies and developing G20 countries, real wage growth dipped marginally from 4.9% in 2016 and 4.3% in 2017.

This global stagnation in real wages comes in line with global growth forecast, which was revised lower by International Monetary Fund (IMF) earlier. The slowdown in wages at level of hourly labour wages is in stark contrast with organised sector salaries.

International Labour Organization (ILO)

The ILO is United Nations agency dealing with labour issues, particularly international labour standards, social protection, and work opportunities for all. It was established in 1919 as an agency of the League of Nations and is headquartered in Geneva, Switzerland. India is a founder member of the ILO. At present, it has 187 members. The principal means of action in the ILO is the setting up of International standards in the form of Conventions, Recommendations and Protocol. So far, India has ratified 45 Conventions, out of which 42 are in force. Out of these 4 are Core or Fundamental or Conventions.

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Sustainable Blue Economy Conference held in Nairobi, Kenya

The first Sustainable Blue Economy Conference was held in Nairobi, capital of Kenya. It was organized by Kenya and cohosted by Japan and Canada. The theme of this conference was ‘The Blue Economy and the 2030 Agenda for Sustainable Development.’

Sustainable Blue Economy Conference

This conference was held on momentum of UN’s 2030 Agenda for Sustainable Development, 2015 Climate Change Conference in Paris and UN Ocean Conference 2017 ‘Call to Action. Over 17,000 plus participants from some 184 countries had participated in the conference. India was represented Union Minister for Shipping, Road Transport & Highways, Water Resources, River Development and Ganga Rejuvenation Nitin Gadkari. Other parties who participated in this conference are World Wildlife Fund, WWF; International Maritime Organization, IMO; International Seabed Authority, ISA;  orld Bank; AFRIEXIMBANK; Ocean Foundation etc.

Background

Blue Economy is economic benefit and value that is realized from Earth’s coastal and marine environment. Sustainable Blue Economy is marine-based economy that provides social and economic benefits for current and future generations, restores, protects and maintains diversity, productivity and resilience of marine ecosystems. It is also based on clean technologies, renewable energy, and circular material flows.

Blue Economy is very crucial for India’s economic development. India has strategic location in Indian Ocean region (IOR), and on this basis, it endorses growth of Blue Economy in sustainable, inclusive and people centred manner through framework of Indian Ocean Rim Association (IORA).

India is also developing its maritime infrastructure as well as its inland waterways and coastal shipping through launch of the ambitious “Sagarmala Programme” which aims to revolutionize maritime logistics and port led developments in country. India’s national vision about this sector is clearly articulated in term “SAGAR”- Security and Growth for All in IOR which was coined by Prime Minister Narendra Modi.

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