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Economic Survey
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BUDGET 2016-17
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Economic Survey
ECONOMIC SURVEY
The Economic Survey 2015-16
was tabled in Parliament by the Union
Finance Minister Shri Arun Jaitley.
Survey expects Indian economy to
perform well dispute the gloomy
picture of international economic
environment. Survey says India stands
as a haven of stability and an outpost
of opportunity. Survey says Indian
economy will doing well because of
mainly two reasons; the governments
commitment to fiscal consolidation
and low inflation. The Survey also
praised reorientation of government
spending toward needed public
infrastructure. Describing these
achievements as remarkable, the
Survey emphasizes that the task is
now to sustain them in an even more
difficult global environment.
The Survey further states that
the countrys performance reflects
the implementation of number of
meaningful reforms. Economic
environment in country has been
helped by the governments
commitment towards reducing
corruption, which is imminent in
auctioning the assets. Survey also
praised the governments initiative to
2
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Economic Survey
Gender Parity Index (2013-14
Provisional) however, shows an
improvement in girls education, with
parity having been achieved
between girls and boys at almost all
levels of education. The Government
has taken several steps to provide
education to underprivileged,
vulnerable and marginalized people
such as SCs, STs, other Backward
Classes (OBC) including Minorities
and other Economically Backward
Classes through various programmes
of education. Digital Gender Atlas for
Advancing Girls Education in India
was launched last year to help identify
low-performing geographic pockets
for girls, particularly from
marginalized groups.
A number of scholarship
schemes to encourage enrolment and
learning levels among different
groups are in operation. National
Scholarship Portal, a single window
system for various types of scholarship
schemes administered by different
Ministries/Departments has been
introduced under Direct Benefit
Transfer (DBT) mode. During 201516, about 90 lakh Minority students
are to be benefited under the Prematric, Post-matric and Merit-cumMeans scholarship schemes, while
about 23.21 lakh SC students
benefited under Pre-matric, 56.30
lakh under Post-matric and 3354
under the Rajiv Gandhi National
Fellowship including the Top Class
Education scholarship scheme are to
be assisted.
The Survey accepts that
external environment remains
unusually challenging and weak,
government policy needs to be
designed to counter that. Major
currency re-adjustment in the wake
of Chinese de-valuation is a major risk
for India according to survey.
Another external risk is capital
controls taken to respond to curb
outflows from large emerging market
countries. The Survey says that in
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Budget 2016-17
BUDGET 2016-17
Union government presented
its second full budget in the
parliament on 29th feb 2015. This
years budget gives special emphasis
for the development of rural India.
Although India has to go through
various external challenges but still
India is fastest growing major
economy in the world. Budget
continued the path setup in last
budget of improving the fiscal
discipline and making legislative and
tax reforms. This was the first budget
presented after recommendation of
pay commission has been accepted
and also government has
implemented One rank one pension
for Armed forces. This will provide
additional burden on the government
finances. However government has
nicely maintained its fiscal discipline.
Along with rural economy
governments focus on improving the
infrastructure of the country has
continued from last years budget.
Important decisions of budget
are given below sector wise:
Rural Economy
Allocation of 5500 crore under
PM fasal Bima yojana. 28.5 lakh
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Budget 2016-17
SC/ST Hub to be set up in
MSME Ministry.
Education
An enabling regulatory
architecture will be provided to
10 public and 10 private
institutions to emerge as world
class teaching and research
institutions.
Higher Education Financing
Agency will be set up with an
initial capital base of Rs. 1,000
crore.
Skills
1500 Multi Skill Training
Institutes will be set up under
Pradhan Mantri Kaushal Vikas
Yojana
Entrepreneurship education
and training will be provided in
2200 colleges, 300 schools, 500
govt. it is and 50 vocational
training centres through open
online courses.
Government of India will pay
EPS contribution of 8.33% for
all new employees enrolling in
EPFO for the first three years of
employment. Applicable to
those with salaries of Rs. 15,000
per month
Interlinking
of
State
Employment Exchanges with
National Career Service
Platform.
Small and medium shops to be
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2. Home assignment: where Multiple Choice Questions of the learned chapters will be
given for selfevaluation.
3. Important current affairs materials for civil services preliminary examination will be
provided
4. Online Tests will be conducted after the end of each subject.
5. At the end of your course, five comprehensive test will be conducted to evaluate your
performance.
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National Issues
NATIONAL ISSUES
Union government will assess
loss to the crop
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Alliance government hopes to
press the accelerator on reforms
and pass the landmark
Constitution
(122nd
Amendment) Bill for a national
Goods and Services Tax (GST)
and a separate bill for
Bankruptcy and Insolvency
Code, 2015.
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apply as direct-entry officers in
ITBP, all restrictions have been
lifted on women.
PM says India proves
democracy and high growth can
go together
10
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the government might use the
provisions of the Bill for mass
surveillance and ethnic
cleansing.
SC says states are not bound to
provide reservation in
promotion
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Opposition demanded specific
clauses of Article 110(1) of the
Constitution that defines a
Money Bill to be part of Speaker
Sumitra Mahajans certification
of it as such.
The Aadhaar Bill seeks to give
legal backing to the unique
identification
number
programme as the means to
identify and disburse subsidies
to eligible sections of the
population.
According to the Constitution,
a Money Bill has to be returned
to the Lok Sabha after clearing
the Rajya Sabha within 14 days
of it being introduced in the
Up- per House. If it is not, it will
be deemed as passed
Government managers present
at the meeting, quoted clause
(4) of the Article that states the
Speakers exclusive powers to
certify a Money Bill.
IAF short of aircraft to face
wars
At a time whenSouth Asia is
seeing induction of advanced
fighter air- craft in large
numbers,the current fighter
strength of the country is inadequate to handle a two- front
war.
steps are being taken to address
the issue and the governmentto-government agreement for
36 Rafale aircraft was agreed to
in this regard.
The Air Force has a sanctioned
strength of 42 squadrons but the
numbers are steadily dropping
with the MiG series being
phased out and the squadron
strength is at its lowest at 33.
Another concern is the low
serviceability of various aircraft,
especially the Su-30s, 272
ofwhich will eventually be
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Dharamshala was cleared when
ICC CEO Dave Richardson
announced that the match, to
be played on March 19, would
be shifted to Eden Gardens in
Kolkata.
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across Africa, Southeast Asia,
Central and South Americas.
Government takes action
against Vijay Mallya
In a setback to businessman
Vijay Mallya, the Bengaluru
Bench of the Debt Recovery
Tribunal on Monday temporarily
restrained U.K.-based Diageo
Plc from paying $75 million to
him as per the reported
agreement signed with him
the sum would stand attached
till further orders on the
proceedings initiated by the
banks to recover money
borrowed by the Mallya-owned
Kingfisher Airlines Limited
According to the banks, the
total outstanding is now nearly
Rs. 10,000 crore
The tribunal also directed
Diageo and Mr. Mallya to provide
particulars of their agreement to
the banks led by the State Bank
of India, which have sought a
garnishee order claiming first
right over the $75 million that
Mr. Mallya is to get from Diageo.
It was reported that Diageo had
offered to pay $75 million to Mr.
Mallya in a five year period for
stepping down from the post of
Chairperson of United Spirits
Ltd, which Diageo had acquired,
and agreeing not to compete in
business with it for a certain
period
The ED has received a copy of
the CBI case of corruption and
criminal conspiracy registered
in October 2015 against Mr.
Mallya as director of Kingfisher
Airlines
The ED will soon summon Mr.
Mallya and the other accused
to record their statements
The Directorates move to
investigate money-laundering
18
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from railway level-crossings by
2019 to ensure road safety.
Under the project, 208 rail
overbridges and underbridges
will be built at a cost of Rs.
20,800 crore. Also, 1,500
decade-old bridges will be
reconstructed and revamped,
spending Rs. 30,000 crore.
The country, PM said, needs
both highways and i-ways
(information ways), referring to
digital connect.
Tamil Nadu wants centres
advice on releasing convicts in
Rajiv Gandhi assassination
In yet another bid to release the
seven convicts in the Rajiv
Gandhi assassination case, the
Tamil Nadu government wrote
to the Centre, seeking its views
on its decision to free them.
Under Section 435 of the Cr.PC,
the State has to consult the
Centre before releasing
prisoners prosecuted by the
CBI or under a Central law.
In December last year, the
Supreme Court had ruled that
the State government had no
power to release the convicts
without
the
Centres
concurrence.
In 1999, the Supreme Court
found the seven guilty of conspiring to assassinate Rajiv
Gandhi in May 1991.
The State governments earlier
attempt in 2014 to release the
seven
failed,
as
itscommunication to the Centre
gave only three days time for a
response.
The main petition questioning
the legality of the governments
order of release is still pending
before a three-judge Bench of
the SC.
22
Ahead of PrimeMinister
Narendra Modis visit to Israel
later this year, a first by an Indian
Prime Minister, the Cabinet
Committee on Security (CCS)
has cleared the purchase of
additional surveillance aircraft
from the country.
The CCS chaired by Mr. Modi
cleared the proposal to acquire
two more Phalcon Airborne
Early Warning and Control
Systems (AWACS) at a cost of
Rs. 7,500 crore under a
tripartite agreement with Israel
and Russia.
The AWACS are advanced
radars mounted on an aircraft to
give 360 degree coverage to
detect incoming aircraft and
missiles at long ranges.
India had procured three
Phalcon AWACS, Israeli radars
mounted on Russian IL-76
transport aircraft, in 2003 at cost
of $1 billion. Indo-Israel ties got
a major boost after Mr. Modi
came to power.
Document for Lalit Modis
extradition submitted
Enforcement Directorate (ED)
officers submitted documents
for the extradition of former
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cricket administrator Lalit Modi
to the Prevention of Money
Launder- ing Act (PMLA) court.
Interpol had asked for certain
documents from ED to be sent
to the London court, as a
requirement for Lalit Modis
extradition. It is part of the
procedure followed as per the
extradition Act.
Despite several efforts, Interpol
had not issued a Red Corner
Notice against Mr Modi.
Supreme Court questions the
validity of All-India Bar
Examination
The Supreme Court on Tuesday
questioned whether the
conduct of the All-India Bar
Examination (AIBE) is a
violation of the fundamental
right to practise a profession,
leaving the Bar Council of India
in the dock.
Law graduates are required to
clear the AIBE within two years
of their enrolment in order to
practise law. Its rules notified in
2010, the AIBE was advertised
by the BCI as a positive step to
improve the quality of the
profession.
To say that one has to pass an
examination for practising as an
advocate will negate his or her
right to profession.
He has a fundamental right to
practise. Conditions cant be
put after enrolment. If, at all, it is
required, the condition should
be put at the enrolment stage,
the Bench said.
The apex court has called for
Law Commission reports on the
issue of holding such an
examination and posted the
case for March 2.
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MGNREGS funds to support
agriculture.
PMs Mann ki Baat focused
upon students who have board
exams
Prime Minister Narendra Modis
monthly radio address, Mann Ki
Baat reached out to students
preparing to sit for their schoolleaving Board exams, many of
whom are likely to enter
universities.
He had roped in cricketing
legend Sachin Tendulkar, chess
grandmaster Vishwanathan
Anand and scientist C.N.R. Rao
in this pep talk to students on
the eve of the exams.
Mr. Tendulkar emphasised the
need to have a positive attitude
and to compete with oneself. I
will only say that you set your
targets and dont come under
pressure of expectations of
others.
Vishwanathan Anand said
Work hard but set a realistic,
achievable target and try to
achieve it.
Army uniform sale banned in
Punjab
The Punjab government on
Sunday imposed a ban on the
sale of Army uniforms across the
State.
Punjab had witnessed terror
attacks in Pathankot and
Gurdaspur in the recent past
where militants had disguised
themselves in the Army fatigues.
Any person who wants to buy
the uniform would have to
submit a self-attested copy of
his identity card and phone
number with the shopkeeper
and this record would be
maintained along with date of
sale in the record register of the
26
shop- keeper.
The State has also banned use
of red and blue coloured
stickers used by police on
vehicles.
Vinod Rai would be first
chairman of Bank Board Bureau
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PM also said The chor
bazaarwale are angry and all
these hungama over petty issues
is because of it.
Parliamentary standing
committee on defence wants
higher allocation to defence
Parliaments
Standing
Committee on Defence has
expressed dismay over the
governments reluctance to
commit to a minimum
percentage of its expenses for
the armed forces, despite its
recommendations.
The committee desires that
declining ratio should be
arrested in the next financial
year itself, so that the services
are provided adequate funds,
and hence they are not
deprived
of
essential
equipmentand ammunition.
The committee had then told
the government that it should
consider fixing a minimum
benchmark for this percentage,
which should be adhered to, in
every case.
Though the defence budget is
increasing numerically annually,
as a proportion of the Central
budget, it has consistently been
declining.
In 2009- 10, the defence
expenditure of Rs. 1,41,781
crore was 13.84 per cent of the
total expenditure.
In 2010-11, the budget
increased in absolute terms, but
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revision of the Indian Penal
Code (IPC) for meet- ing the
changing needs of the 21st
century.
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Electronic tourist visa extended
to 37 more countries
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The students left the campus in
a university vehicle escorted by
guards around 11-45 p.m. and
were taken into custody by a
police team waiting outside one
of the exit gates of the varsity.
They were joined by a large
number of students who went
right up to the west gate of the
university. Four teachers and a
lawyer also accompanied the
two.
Five students -- Ashutosh
Kumar, Anant Prakash, Rama
Naga, besides Umar and
Anirban are wanted by the
police in a sedition case.
Presidents asks for debate with
out disruption
Anticipating a stormy Budget
session of Parliament, President
Pranab Mukherjee on Tuesday
exhorted all MPs to discharge
their responsibility in a spirit of
cooperation and mutual
accommodation.
Addressing the joint sitting of
both Houses, President
Mukherjee said, Democratic
temper calls for debate and
discussion, and not disruption
or obstruction.
He also said let noble thoughts
come from all directions
should be the spirit behind
debate in this temple of
democracy.
Being a member of this great
institution bestows great honour
as well as important
responsibilities.
The President also told the MPs
that we owe a great debt to
our freedom fighters.It is time
to repay that debt, by building
the country that they
envisioned and fought for.
Conducting a comprehensive
review
of
defence
procurements cleared in the
last two years, Defence Minister
Manohar Parrikar has directed
the armed forces to identify
procurement projects of
contemporary relevance in
the next few months.
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He made these observations
while chairing a meeting of the
Defence Acquisition Council
(DAC).
The review comes as the
Defence Ministry is in the final
stages of formulating the
newDefence Procurement
Procedure (DPP) expected to
be released in the next couple
of months.
A contemporary review is
particularly relevant as a large
number of defence proposals
in the pipeline have been
pending for several years and
even over a decade in many
cases and are now irrelevant
due to change in requirements
of the forces and advancement
in technology.
Observing that despite
concerted eforts to expedite
procurements, Mr. Parrikar
noted that there still remain 314
cases which have not yet
fructified.
Out of these 86 schemes worth
approximately Rs. 1.5 lakh crore
are close to final stage of
approval.
Jat protest turns ugly
Even after the Centres
assurance on reservation for the
Jats, the agitation in Haryana
doesnt seem to die down.
Three more persons were killed
in police firing during protests
in Sonipat district, even as the
State government said the
situation was returning to
normality.
The death toll in the State has
gone up to 16 and 183 persons
have been injured. So far, 320
cases have been filed and 102
persons have been arrested.
The State Cabinet meeting,
chaired by the Chief Minister, is
32
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prosecution against its Swiss
and Dubai arms for allegedly
abetting tax evasion by four
Indians and their families.
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leaders.
Since they have the support of
11 BJP MLAs, they have the
numerical majority in the 50member Assembly.
India welcomes Pakistan move
to file case for Pathankot attack
In a clear hint of the two
countries holding the Foreign
Secretary-level talks soon, India
welcomed Pakistans move to
file a case against an unnamed
extremist group suspected of
executing the January 2 attack
on the Pathankot airbase.
Indias response came a day
after the Pakistani police filed a
case against a suspected terror
group under the strict Anti
Terrorism Act and the Pakistan
Penal Code.
Immediately after the attack,
India pointed the finger at the
Jaish-e-Mohammed, which has
its headquarters in Gujranwala,
but did not receive a favourable
response even after providing
technical evidence of the
involvement of members of this
group.
But the press release from
Pakistan indicated that the
police had filed the case against
the terror group, though an
official confirmation is
expected.
BCCI to point out difficulties in
implementing Lodha committee
recommendations
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National Issues
in the high altitude test facility
as part of the flight acceptance
test.
SC declined to hear the bail plea
of Kanhaiya Kumar
The Supreme Court agreed with
Kanhaiya Kumar, president of
the Jawaharlal Nehru University
Students Union, that repeated
mob violence on court premises
against him was unusual and
extraordinary, but stopped
short of hearing his bail petition
barely 24 hours after listing the
case at the top of the days work
chart.
Instead, a Bench of Justices J.
Chelameswar and Abhay
Manohar Sapre transferred the
petition to the Delhi High Court
to be heard expeditiously.
The court ordered the Centre
and the police to provide
special security arrangements,
with the entry to the High Court
regulated by the RegistrarGeneral of the latter.
Mr. Kumar, now lodged in the
Tihar jail on a 14-day remand,
moved the Supreme Court
under Article 32 of the
Constitution seeking protection
of his life and liberty.
Haryana government gave
assurance about Jat reservation
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2008 Olympics.
They tried out pollution control
measures in Beijing, which
hosted the games, but found
that the problem lay elsewhere.
Apart from the crackdown on
polluting industries, China
expanded its air quality
monitoring system, which is
something India needs to do as
well.
Some of the most polluted parts
of the country do not have an
air quality monitor- ing station.
An online platform for each
province of China was created,
where air quality data, including
emissions from individual
industrial units in the area, is
available to the public via an
app.
A five-year plan with specific
targets for pollution reduction
was also drawn up in 2013.
Pollution control became a
political agenda as well, with
local
government
representatives being judged
on whether they achieve air
quality targets.
Li-Fi could make use of LED
bulb for providing Internet
Imagine an LED bulb doubling
up as an access point for
connecting to the Internet and
ordinary light being used as a
medium to carry data.
A whole new world wherein a
bulb would not only give us light
but also help us access the Web
might not be too far away, if a
new technology called Li- Fi (or
Light-Fidelity) goes mainstream.
Prof. Harald Haas of the
University of Edinburgh, who
coined the term Li-Fi in 2011.
Li-Fi was a disruptive
technology that could transform
business models, create new
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National Issues
Commissioned Officers (JCO) is
15 years and for officers it is 20
years after which they are
eligible for pension.
However, he said that there has
to be a distinction between
those leaving service for
greener pastures and those
leaving for the sake of the
country.
The government issued the
notification implementing the
OROP in November last year
which stated that personnel
opting for the PMR will be out
of the ambit of the OROP
effectively distinguishing those
who had already retired and
those opting for the PMR in
future.
Vice-Chancellors of central
universities accept Tricolour
will increase nationalism
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production of which is be- ing
scaled up.
India and France are in
advanced stage of talks to
conclude
an
intergovernmental agreement for the
direct purchase of 36 Rafale
fighter jets. This fighter aircraft
will likely be other than the
Rafale.
The Air Force is expected to
induct over 100 of the improved
LCAs which will feature an
Advanced Electronically
Scanned Array radar,mid-air
refuelling and improved
electronic warfare suite in
addition to other minor
improvements.
India and Nepal begin to repair
strained ties
India and Nepal hope to begin
repairing ties as Prime Minister
K.P. Sharma Oli makes his first
official visit to India.
But as Mr. Oli lands in Delhi on
the six-day visit, the two sides
are unlikely to dwell too much
on the past few months of strain,
choosing instead to focus on
the earthquake reconstruction
effort, Indian power projects in
the pipeline and future
cooperation.
In accordance with tradition,
Mr.Oli is making India his first
destination abroad after
becoming Prime Minister in
October 2015.
He will meet his Indian
counterpart Narendra Modi and
other leaders in Delhi besides
visiting two of Indias worst
earthquake-hit areas, looking at
the hydropower station built in
Tehri, Uttarakhand, and reconstruction projects in Bhuj,
Gujarat.
Equally clear is the desire on
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National Issues
Devendra Fadnavis flagship
scheme, to make Maharashtra a
drought-free State by 2019.
The programme aims to make
5,000 villages free of water
scarcity every year. Mr. Fadnavis
is likely to make an
announcement in the regard
along with the actor.
The actor would be asked to
promote use of micro-irrigation
system for efficient use of water,
thereby increasing the irrigated
area in the drought- prone
regions.
The government has allocated
Rs 1,000 crore for the scheme.
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community toilets and 2.6 lakh
public toilets by 2019.
The oldest operational aircraft
carrier INS Viraat to be
decommissioned
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International Issues
INTERNATIONAL ISSUES
Peace talks for Syria started
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passcode protection and allow
access to Farook's iPhone.
UN to probe South Sudan attack
An attempt by Republican
Senator Rand Paul to stall the
U.S. move to sell eight F-16s to
Pakistan hit a procedural
charter.
One further vote of approval is
needed in the combined
houses before Htin Kyaw can
officially be anointed leader of
the nation that has been run by
the military for decades.
The country still burdened by
the legacy of nearly 50 years of
rule by the military, which
retains significant influence
including a quarter of the
Parliament's seats.
Scientists believe Britains exit
from EU will be a disaster to
science
Over 150 Fellows of Britains
leading scientific institution, the
Royal Society, have expressed
their opposition to Brexit
[Britains exit from the European
Union] arguing that it could be
a disaster for science.
In a letter to The Times, the
signatories, who include
physicist Stephen Hawking,
astronomer Royale Martin Rees
and eminent Cambridge
scientist Alan Fersht, have
drawn attention to the benefits
that have accrued to science as
a shared enterprise in the EU.
The signatories point to the
example of Switzerland, which
was for long a popular
destination for scientists.
It now has limited access to EU
funds be- cause it voted to
restrict the free movement of
workers, and is desperately
trying to find other ways to
attract young talent.
Think tank believes SAARC
should include China as well
Globalisation is putting pressure
on the South Asian Association
for Regional Cooperation
(SAARC) to change its
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International Issues
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International Issues
considering whether to attend
despite a major lull in fighting.
The United Nations is hoping to
restart peace talks that
collapsed last month, building
on a ceasefire that has led to the
first significant decline in
violence in Syrias nearly fiveyear civil war.
The UNs Syria envoy Staffan de
Mistura has said he hopes the
talks can begin from Thursday
but officials have indicated it
could take several days of
preparations
for
the
negotiations to get off the
ground.
Presidential nomination race
still open
The
Republican
Party
establishments efforts to stop
real estate developer Donald
Trump from winning the partys
presidential
nomination
appears to have an unintended
consequence, if at all.
All anti-Trump voters in the
party are now gravitating
towards Texas Senator Ted
Cruz, who won two of the four
States that voted in the
nomination race.
On the Democratic side, front
runner Hillary Clinton won only
one of the three States that
voted but picked up more
delegates than Senator Bernie
Sanders.
Mr. Sanders said after the results
that his campaign would
continue all the way up to the
party national convention.
Nomination is secured by
winning a majority among the
delegates at the respective
national conventions of parties.
After Saturday, with 27.89 per
cent of the total delegates
allocated on the Democratic
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boosted troop numbers,
increased air strikes and night
raids against the insurgents in
tandem with its efforts to revive
talks.
The Taliban have also stepped
up attacks on government and
foreign targets in Afghanistan
even in the winter months when
fighting usually abates
underscoring a worsening
security situation.
Afghan security forces have
suffered record casualties since
NATO ended its combat mission
in December 2014, leaving
them to battle the resurgent
Taliban largely on their own.
In recent months the Taliban
briefly captured the northern
city of Kunduz, the first urban
centre to fall to the insurgents,
and have seized territory in the
opium-growing southern
province of Helmand
After Border and maritime
issue resolution Bangladesh
wants Teesta issue resolved
After the the resolution of the
land boundary and maritime
issues, Bangladesh is now
looking up to India for an
immediate signing of the
Teesta water-sharing accord,
which the two governments
had agreed over four years ago.
Mr. Alam, the State Minister,
said Bangladesh had fully
delivered by undertaking
specific measures to address
Indias security concerns.
With more and more dedicated
institutional mechanisms being
put in place, we are having
better,
targeted
and
coordinated action in various
sectors of security. And the
cooperation will continue.
BJP spokesperson said New
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International Issues
United States have found that it
severely damages a type of
neural stem cell that gives rise
to the brains cerebral cortex.
The findings are significant
given that the World Health
Organisation (WHO) is set to
decide, within the next few
months, whether the Zika virus
historically known to be
relatively benign is indeed
wholly responsible for the
outbreak of microcephaly, or
deformed skulls, in newborns in
Brazil and other parts of South
America.
The team of researchers, led by
Guoli Ming and Hongjun Song
of the Johns Hopkins University
School of Medicine and Hengli
Tang of Florida State University
report in the current edition of
the journal Cell Stem Cell that
they saw the virus destruction,
on neuronal cells derived from
human induced pluripotent
stem cells.
Several other questions
however remain. For instance,
why are the symptoms in adults
so mild? How is the virus
entering the nervous system of
the developing foetus?
India filled complaint in WTO
over via fee issue
India has filed a complaint to the
World Trade Organization
(WTO) against the United States
over its measures raising fees on
some applicants for temporary
work visas, mostly involving the
tech sector.
India has notified it has started
dispute proceedings alleging
the U.S. measures are not
consistent with Washingtons
commitments to accept
services from other countries.
In its request for consultation,
48
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Justice
Lodha
had
recommended voting rights
based on territorial boundaries
of States and did not take into
account historical demarcation
of boundaries among members
as per the levels of cricket
played. This had led to
Maharashtra and Gujarat having
multiple existing members in
BCCI.
Non-essential plastic to be
banned in Karnataka
The State Cabinet approved the
final draft notification on
banning the utilisation of nonessential plastics. Officials of
the Department of Forest,
Environment and Ecology, who
drafted the notification, believe
that this will spur the use of
ecofriendly materials, and
reduce the amount of plastics
in garbage dumps
Took the decision to ban the
manufacture, storage, sale,
distribution, and use of plastic
carry bags, irrespective of their
thickness
The decision goes beyond the
2011 notification that banned
plastic below 40 microns and
aims at banning products for
which eco-friendly alternatives
are available
Additions include thermocol,
micro-beads and even plastic
cutlery which were
suggestions given by activists
and citizens.
The ban is expected to reduce
non-degradable plastic content
in municipal waste by over a
third.
ASEAN-Plus military drill
begins in Pune
Military personnel of adversarial
world powers converged upon
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International Issues
Fight against Sunni militancy on
cards in Iraq
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Trump in their responses,
keeping their eyes firmly on the
November general elections.
Rouhanis allies won all 30
parliamentary seats
Reformist allies of Hassan
Rouhani
won
all
30
parliamentary seats in Iranian
capital.
The List of Hope, a pro- Rouhani
coalition of moderates and
reformists, was on course to
wipe out its conservative rivals
in Tehran with 90 per cent of
ballots counted.
The clean sweep was a major
fillip for the President, signalling
overwhelming public backing
in the capital for his landmark
nuclear deal with world powers
last year that ended a 13-year
stand-off.
The landslide in Tehran came
after mixed results for the
Presidents supporters in the
provinces in the first elections
since sanctions were lifted last
month under the nuclear
agreement.
After five years calm in Syria
A rare calm prevailed across
much of Syria as the first major
ceasefire of the five-year war
took hold and an international
task force prepared to begin
monitoring the landmark truce.
Guns fell silent at midnight in
suburbs around the capital and
the bomb-scarred northern city
of Aleppo, after a day of intense
Russian air strikes on rebel
bastions.
The nationwide cessation of
hostilities, brokered by
Washington and Moscow, is
seen as a crucial but fragile step
towards ending a war that has
claimed 270,000 lives and
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International Issues
Commonwealth Ministerial
action group calls for free and
fair election in Maldives
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the fact that still a majority of
Republican voters believe,
according to opinion polls, that
Mr. Trump cannot be a winning
candidates in the general
election.
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International Issues
Bangladesh
54
Police
have
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International Issues
of lawmakers to Cuba said he
believed legislation ending the
embargo could pass Congress
by the end of the year
Word of his travel plans drew
immediate resistance from
opponents of warmer ties with
Cuba including Re- publican
presidential candi- dates.
China deployed surface to air
missile in disputed woody
Island
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track
by
clearing
misunderstandings even as he
defended
the
new
Constitution, opposed by
Madhesis, as inclusive and
democratic.
Mr. Olis much-anticipated visit
to India at the invitation of Prime
Minister Narendra Modi comes
days after agitating Madhesis,
largely of Indian-origin, ended
their crippling protests and
blockade that had soured the
bilateral ties.
The year 2015 remained a
landmark in our history as we
were able to promulgate the
new Constitution despite the
hardship facing the people due
to the five-month-long
blockade in the countrys
southern border, even after
suffering from the devastating
earthquake that hit the country
10 months ago.
The
new
Constitution
promulgated on September 20,
2015 was inclusive and
democratic as it has all the
features of a democratic
Constitution
including
guarantee of human rights,
independent judiciary, social
justice and equality.
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The
Raisina
Dialogue
conference, attended by
speakers from 40 countries, is
being seen as the governments
attempt to rival conferences
around the world that attract
global players such as the
Shangri-La dialogue in
Singapore, and the Munich
Conference on national security.
Speaking at the inauguration,
Ms. Swaraj and her Bangladesh
counterpart Mahbboob Ali
spoke of the importance of
building road and rail
connectivity through the BBIN
grouping of Bangladesh,
Bhutan, India and Nepal.
Tensions between India and
Pakistan have held back South
Asian integration, said former Sri
Lankan President Chandrika
Kumaratunga, calling for greater
South Asian cooperation and
economic integration.
Turmoil in Maldives is stalling
PM Modis visit
Continuing political turmoil in
the Maldives is the reason Prime
Minister Naren- dra Modis visit
to Male has had to be put of
repeatedly.
The visit that was cancelled at
the last moment in March 2015
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62
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63
Economy
ECONOMY
WPI is in negative again
direction.
Index for Industrial Production
(IIP) in January showed output
contracted 1.53 per cent
compared with the 1.18 per
cent contraction in December
2015.
Food inflation in the CPI came
in at 5.5 per cent in February
compared with 6.7 per cent in
January.
In the WPI, the rate of inflation
in food articles also decreased
to 3.35 per cent in February
from 6 per cent in January.
Primary article inflation in the
WPI slowed down significantly
in February to 1.6 per cent
compared to 4.6 per cent in
January.
Similarly, the rate of inflation in
the fuel & power segment in
the WPI was -6.4 per cent in
February compared to -9.2 per
cent in January.
The fuel & light segment in the
CPI came in at 4.6 per cent in
February, down from 5.3 per
cent in January.
Inflation in the housing segment
of the CPI accelerated to 5.3 per
cent from 5.2 per cent in
January.
Cairn India hopeful over recent
changes in the natural gas
sector
Cairn India has expressed the
hope that recent Cabinet
approvals for changes in the
natural gas sector will also help
resolve some of the long
pending issues with the
government, such as the fate of
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Economy
operating profitability.
Data tariffs will also see a major
correction due to the launch of
Reliance Jio, it said, adding that
the benefits from higher data
volumes as well as subscriber
growth will be back-ended.
Additionally, the operators
debt profile will deteriorate as
they are likely to incur high
capex on network expansion
and acquisition of additional
spectrum through trading,
largely to compete with
Reliance Jio.
Further, spectrum is expected
to drive consolidation in the
sector, helped by recent
guidelines allowing spectrum
sharing and trading transactions
within industry participants.
This will help smaller players to
monetise their spectrum assets
while bigger players enhance
their spectrum holdings, it said.
Government planning to
provide PF to contractual
labours as well
The government has decided
to get tough with large
employers who increasingly rely
on contract workers often
without paying them their
statutory dues such as
employees provident fund
contribution.
As part of the plan, the
Employees Provident Fund
Organisation (EFPO) has asked
all the public sector firms to
upload on their websites the
details of project contracts
awarded to various agencies in
a bid to ensure contract workers
get provident fund benefits.
Central PF Commissioner V.P.
Joy, who recently took charge
of the Rs. 10 lakh crore
retirement fund body, is
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Economy
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Economy
The Budget has tried to address
tax related issues for
manufacturing and we are
hopeful that they would yield
results.
But we would like to see further
rate reduction in the
forthcoming monetary policy
(of the RBI) that can stimulate
demand and investments in the
economy
to
support
manufacturing growth.
With the Budget sticking to the
fiscal consolidation roadmap by
targeting to limit the fiscal
deficit at 3.5 per cent of GDP in
2016-17, the government had
claimed that it had done its job
well by maintaining fiscal
discipline to ensure macroeconomic stability.
This in turn has provided some
space for monetary policy to be
loosened up.
Fiscal deficit for the current
fiscal is projected at 3.9 per
cent. Experts are expecting a
minimum 25 basis points repo
rate cut by the RBI, most
probably earlier than April, to
perk up growth.
Global financial market
volatility, a potential further
deterioration in exports and
strain in bank and corporate
balance sheets could weigh on
India's growth prospects, the
IMF had said.
In January 2016, growth in
mining output was 1.2 per cent
while that of electricity was 6.6
per cent, basic goods (1.8 per
cent), intermediate goods (2.7
per cent) and consumer
durables (5.8 per cent).
The factors being blamed for
the fall in industrial output
include the Chennai floods and
poor revival of investment.
Experts are expecting a
keenly watched.
The governments commitment
on capital infusion is just enough
to meet the minimum capital
requirements as the banks
migrate to the stricter Basel-III
regime.
A normal monsoon season this
year can lead to a 4 per cent
growth in agriculture.
New gas pricing formula
approved by cabinet
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67
Economy
previous policy required a
separate license for each type
of hydrocarbon.
The new policy also
incorporates an open acreage
policy wherein exploration and
production companies will be
allowed to choose the blocks
they want to use from the
designated area.
In addition, the policy moves
towards an easier revenuesharing mechanism from the
current
profit-sharing
mechanism.
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Oil Marketing Companies
(OMCs) are making efforts to
target the higher income group
(taxable income of more than
Rs.10 lakh) using technology
and available information.
Consumers are also provided
with on-line facility to declare
their income and submit their
self-declaration in the
prescribed form to distributors
if the taxable income of self or
his/her spouse exceeds Rs.10
lakh.
The Give it Up campaign goes
hand-in-hand with the
governments Direct Benefit
Transfer in LPG wherein the
subsidy amount is directly
transferred to beneficiaries
bank accounts, thereby
reducing the scope for leakage.
Government raises fund limits
to seed start-ups
The Department of Science and
Technology (DST) may invest
up to Rs. 1 crore in every fresh
start-up that it will seed from the
next financial year.
The DSTs outlay for seeding
has been increased four-fold
from Rs. 40 crore to Rs.180
crorein the coming financial
year to help fund the increased
investment.
Currently, the maximum
permissible investment is Rs.50
lakh. Promoting start-ups has
been among the governments
major promises with Prime
Minister Narendra Modi
frequently asking Indias youth
to
become
more
entrepreneurial.
On 16 January, Mr.Modi
addressed a massive gathering
of entrepreneurs from India and
abroad and outlined several
initiatives to energise Indias
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Economy
RBI has granted licences to 11
payment banks and 10 small
finance banks to start
operations.
While these banks were given
18 months time to roll out
services, most of these entities
are expected to start operations
in 2016.
At a lower level, public sector
institutions pay better than their
counterparts. But while
progressively going up, there is
a gap that really becomes
unmanageable.
RBI says banking infrastructure
is not good enough
Growth of card acceptance
infrastructure like automated
teller machines (ATMs) and
point-of-sale (PoS) terminals is
not on a par with that of card
issuance.
This was observed by the
Reserve Bank of India (RBI) in
its concept paper on card
acceptance infrastructure
released on Tuesday.
Another disconcerting feature
is that the rate of growth in
setting up card acceptance
infrastructure has also slowed
down during these three years.
Debit cards vastly outnumber
the volume of credit cards
issued in the country. Further, a
high number of debit cards have
been issued in recent times
under the Prime Ministers Jan
Dhan Yogana, especially to
customers in rural areas and
smaller towns.
According to the concept
paper, the lower growth of ATM
and PoS terminals, both in terms
of numbers and geographical
spread, has impacted card use.
Cash continues to be the
predominant mode of payment
70
as it appears to be costless in
comparison to the visible costs
associated with card/electronic
payments.
Some of the factors that have
inhibited growth in the
acceptance infrastructure are
lack of adequate and low-cost
telecom infrastructure and lack
of incentive for merchants for
acceptance of cards, among
others.
Government identifying banks
for consolidation
The government will identify six
to ten public sector banks
which will drive the
consolidation process among
the state-owned banks
Large lenders like State Bank of
India (SBI), Bank of Baroda
(BoB), Punjab National Bank
(PNB) and Canara Bank could
become the anchor banks
The government will set up an
expert panel for the
consolidation process. The
Bank Board Bureau headed by
former Comptroller and Auditor
General (CAG) Vinod Rai, which
was recently formed to select
chief executives and board
members of public sector banks,
will also help in the
consolidation process.
Merger between the banks will
be based on geographical and
technological synergies, human
resources and business profile,
among others
Consolidation among public
sector banks has been under
discussionfor about a decade
now.
There are 22 public sector
banks in the country apart from
five associate banks of State
Bank of India. The present
National Democratic Alliance
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Economy
and labour costs going up and
therefore,
nobody
in
government is willing to take the
responsibility for such cost
escalations
A statutory mechanism to
negotiate cost escalations
under an oversight would be
put into operation.
The countrys arbitration law
now provided a fast-track
mechanism to resolve cases
within a year and commercial
divisions had been created in
every High Court
Ahead of Aadhaar Bills
passage, Govt. okays housing
subsidy for workers
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71
Economy
72
verification.
The mobile wallet user base in
India has even surpassed the
total number of credit cards
issued in the country.
The RBI data shows that till
November 2015, around 22
million credit cards have been
issued by 55 banks, while a
rough estimate shows there are
more than 100 million wallet
users in India.
In a bid to garner market share,
almost all players are offering
cash back and discounts, which
can be used for another
transaction. Some players even
provide offline way of wallet
balance top up.
Mobikwik has its 'Cash Pickup'
service in select cities that will
facilitate cash to be directly
added to MobiKwik wallet.
There are different types of Ewallets:
OPEN WALLETS: The ones that
allow you to buy good and
services, withdraw cash at
ATMs or banks and transfer
funds; these services can only
be jointly launched with a bank.
Apart from the usual merchant
payments, it also allows you to
send money to any mobile
number bank account. M-Pesa
by Vodafone is an example.
SEMI-OPEN WALLETS: You
can't withdraw cash or get it
back. In this scenario, a
customer has to spend what he
loads. Airtel Money is a semiopen wallet, which allows you
to transact with merchants
having contract with Airtel.
CLOSED WALLETS: Quite
popular with e-commerce
companies, where a certain
amount of money is locked with
the merchant in case of a
cancellation or return of the
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Economy
He also said the government is
considering ESOPs for PSU
bank
officials
besides
strengthening the SARFAESI
Act and Debt Recovery
Tribunals to deal with the
problems of stressed assets that
are estimated at around Rs.8
lakh crore.
There could be niche banks and
banks which could survive
independently and sustain
themselves well, he said,
observing that the Gyan
Sangam strongly supported the
idea of consolidation in the
banking sector.
With regard to the rising Non
Performing Assets or bad loans,
Jaitley said that besides
strengthening the institutional
mechanism, the government has
been taking sector specific
decisions to deal with the
problems in segments like
power, highways, sugar and
steel.
On the NPA situation in the
banking sector, Jaitley said
banks are taking steps to
recovery bad loans. As far as
recovery is concerned,
whatever steps have to be taken
with regard to recovery banks
have various rights for recovery
through DRT, SDR... Neither loan
waiver has been given to
anyone, nor will be given, he
said.
In the current global
environment, Jaitley said, banks
have to take all the measures in
order to clean up their books
by effecting recoveries.
He also said that there are some
sector specific decisions which
are required to be taken by the
government. These include,
power, highways, sugar and
steel.
74
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FOFs, as per the DIPPs Startup
Action
Plan,
are
professionally managed funds
that will not invest directly in
start-ups, but contribute to the
capital of VCs registered with
capital markets regulator SEBI.
These VCs, in turn, provide the
needed early stage funding for
start-ups. CGT is the tax-onprofit made by a person
through sale of a capital asset
(such as an investment or realestate).
DIPP would hold a meeting with
the Finance Ministry to take up
the issue of allowing SEBIregistered VCs and angel funds
to also be notified for the
purpose of CGT exemption.
Cell formed to study subsidies to
industry
The government has set up a
special cell to compile
information on subsidies given
by other countries to their
industry.
The constitution of the special
cell as well as proposed
measures including changes in
laws such as Customs Act is
also aimed at indirectly helping
India Inc file applications
before the government seeking
imposition of anti-subsidy duties
on subsidised imports of items,
such as steel, harming local
industries.
The development comes in the
backdrop of slowdown in
global trade and measures
taken (including against
merchandise exports from
India) by several countries such
as the U.S. to protect their
domestic industries from
unfairly low-priced imports.
Under the WTO norms,
subsidies refer to financial
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75
Economy
mandatory for jewellery
purchases over Rs. one lakh.
Personal income is tax free in
the country for those earning
about Rs.21,000 a month or
Rs.2.5 lakh a year
An EPF account is mandatory
for all employees earning up to
Rs.15,000 per month (raised
recently from Rs.6,500 per
month) in firms employing over
20 workers. As per the law, 24
per cent of an employees salary
is contributed to EPFO as a
social security net for old age
a part of that (8.33 per cent) is
diverted to an employees
pension scheme (EPS).
This is a very regressive move
and would not only lead to
taxing those who are not part of
the tax net or pushing them to
get a PAN card though their
income is well below the
taxable limit, but also create a
huge
compliance
and
paperwork headache for
employers as well as the EPFO,
who would have to issue tax
deduction certificates
The government has defended
its proposal to tax 60 per cent
of EPF savings as a tool to push
people into the pension habit
and said that only high-income
workers would be affected,
while those earning upto
Rs.15,000 a month wont be
taxed.
Aadhaar Bill introduced in Lok
Sabha
Union Finance Minister Arun
Jaitley introduced the Aadhaar
(Targeted Delivery of Financial
and Other Subsidies, Benefits
and Services) Bill, 2016 in the
Lok Sabha. The Bill provides
statutory backing to Aadhaar,
the unique identity number
76
time-bound process
The Opposition also demanded
to know if the Bill can be
referred to the standing
committee on finance. Money
Bills cannot be referred to a joint
committee of Parliament
MAT will not be possible until
all corporate tax exemptions are
rolled back
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Economy
or certain other tax exemptions.
In addition, the finance minister
proposed to lower the
corporate tax rate for
companies with a turnover not
more than Rs. five crore a year
to 29 per cent
Government will take final call
on EPF tax
Finance Minister Arun Jaitley
said that the government would
take a final decision on his
budget proposal to tax 60 per
cent of employees provident
fund (EPF) savings of those
earning over Rs.15,000 per
month, before it responds on
the issue during a debate on
the Finance Bill in Parliament.
The finance ministry had issued
a clarification that EPF savings
wont be taxed at retirement, if
the retiring employee opts to
use 60 per cent of his EPF
account balance to buy an
annuity product that provides
them a monthly pension.
The Budget had announced
that 40 per cent of EPF savings
will be tax-free at the time of
withdrawal on retirement. Till
now, EPF savings are taxexempt at the time of
retirement.
Mr. Jaitley said that the tax
proposal was not aimed at
revenue generation, but help
everyone get a pension in their
old age.
The balance 60 per cent (of
EPF savings) if converted to
annuity and used for a regular
pension will not be taxed. The
objective is to incentivise
people to get pension and
disincentivise consumption of
savings, he said.
Stressing that the proposal
would only impact high-income
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77
Economy
recognition, making available an
additional Rs.40,000 crore to
Indian banks.
The move comes at a time when
public sector banks are facing
pressure on their profitability
due to a sharp rise in nonperforming assets, which is
eroding their capital base.
The announcement is a big
relief for, mainly, public sector
banks, after finance minister
Arun Jaitley announced in his
budget speech a capital
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Economy
economic domain, says K.V.
Kamath.
The New Development Bank
was not an economic instrument
alone, but an initiative that also
symbolised an assertion of
political sovereignty of the five
emerging economies.
Currency reserve arrangement
that is in place in the BRICS
context, it is a commitment of
another 100 billiondollars.
Mr. Kamath also said that two
institutions, NDB and the Chinaled Asian Infrastructure
Investment Bank (AIIB) are
complementary rather than
competitive.
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79
Economy
human capital development,
the survey called for bringing
rich farmers into the tax net,
raising property tax rates and
phasing out tax exemptions.
If the UPA Government had not
raised in the 2012- 13 the
threshold level of personal
income tax, the survey
calculated that an additional
1.65 crore in- come tax payers
would have got incorporated.
The tax-GDP ratio would have
been 0.32% higher as Rs.31,500
crore additional tax revenue
would have been collected.
According to the survey fast
growing years in the 2000s were
in fact associated with rising
inequality at the very top end of
the Indian income distribution.
India is getting more and more
technological start ups
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Economy
bankable structure for private
participation, the government
will undertake a bidding
process for a few large and
medium stations during the next
financial year.
The government is also
considering availing multilateral
financial investments for the
development of certain other
stations and partnering with
states.
Hurun Global Rich List adds 27
new Indian billionaires
India added 27 new billionaires
with Mukesh Ambani, Chairman
of Reliance Industries (RIL),
emerging at the top with a
personal wealth of $26 billion,
according to Hurun Global Rich
List 2016.
Cumulative Indian billionaires
wealth stood at $308 billion,
registering a 25 per cent growth
over last year. Mr. Ambani, who
is ranked 21st globally, was
followed by Sun Pharma
promoter, Dilip Shanghvi , with
personal wealth of $18 billion.
India is home to 111 billionaires
and most of them are from
Mumbai, according to the
report.
The rich in China overtook their
U.S. counterparts to make
Beijing, the `billionaire capital of
the world for the first time,
according to Hurun.
Standing committee on finance
recommends to make names of
wilful defaulters public
The Standing Committee on
Finance recommended that
state-owned banks make public
the names of their respective
top 30 stressed accounts
involving wilful defaulters.
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Economy
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Economy
for 2015-16, paring it further to
3.5 per cent for 2016-17 and 3
per cent for 2017-18.
However, with the economic
recovery still tentative and
private sector investments
remaining elusive, there has
been a growing clamour for the
government to relax its deficit
targets in order to pump prime
the economy via enhanced
public investments.
Given the fiscal constraints, it is
the governments endeavour to
present a budget which is
growth oriented and maintains
the momentum of growth and
tries to develop on it.
For Budget 2016-17, the
government invited suggestions
from citizens through Twitter for
the firsttime, even conducting
a series of polls to gauge public
priorities and expectations from
the budget.
Government will divest five
percent of its stake in NTPC
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Economy
constitute an Independent
Fiscal Council that objectively
evaluates
budget
announcements and forecasts,
stressing that such an institution
was critical to improve the
governments credibility on
fiscal management.
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Economy
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Economy
Reliance's
sophisticated
complex at Jamnagar in western
Gujarat state can refine 1.24
million bpd of crude as varied
as light West African to heavy
sour Middle East and Latin
American grades, allowing it to
switch to whatever crude is
cheapest.
Ministry moots National Social
Security Authority
The Labour Ministry has mooted
the idea of forming a National
Social Security Authority,
chaired by Prime Minister
Narendra Modi, and a separate
Social Security Department
within the ministry to provide
social security to the entire
population in a bid to prop up
the governments pro-worker
credentials.
The functions of the authority
should be mainly to formulate
the National Policy on Social
Security and to co-ordinate the
central and state level
programmes and to en- sure that
the objectives of the policy are
achieved within the time frame
prescribed.
The note proposes a four-tier
system to cover the entire
population of the country,
including both formal and informal sector workers, through
a common Social Se- curity
Code.
It said the cur- rent social
security programmes and
schemes
can
be
strengthened
and
universalised.
It said the first tier would
include the destitute and
people below the poverty line,
the second tier would have
workers in the unorga- nised
sector who may be cov- ered
86
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Economy
Minister Arun Jaitley launched
a new e-platform for non-tax
receipts.
NTPC made the maiden
payment on the portal
developed by the Controller
General of Accounts, by
remitting Rs.989 crore as an
interim dividend to the
government.
The major sources of non-tax
revenue for the government are
from dividends paidby public
sector companies,the Reserve
Bank of India, etc.
During
his
previous
year'sBudget speech, Mr.Jaitley
hadsaid that one major way
tocurb black money is to
discourage cash transactions
infavour
of
electronic
transactions.
New BOT annuity model to be
used by Indian Railways
The Indian Railways has
identified the first three projects
to be taken up for development
through the new build, operate,
transfer (BOT) annuity model at
an estimated cost of around Rs
2,450 crore.
The three targeted projects are
developing third line between
Nagpur and Wardha (both in
Maharashtra),
Kazipet
(Telangana) and Balharshah
(Maharashtra) and, Bhadrak and
Nergundi (both in Odisha).
The total estimated cost of
development of 357 km third
line is around Rs 2450 crore.
The Railways has received Rs
14,000 crore worth investment
commitments since 2014 after
it introduced new models for
projects through public-private
partnership (PPP) model.
This is a sharp rise from roughly
around Rs 4,000 crore
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Economy
crore in 2014-15 to Rs. 7.50 lakh
crore in 2025 and raising direct
and indirect employment from
the current 8.4 million to 30
million
The policy envisages making
India a net exporter of capital
goods and aims at facilitating
improvement in technology
across sub-sectors, increasing
skill availability, ensuring
mandatory standards and
promoting growth and capacity
building of MSMEs.
Some of the key issues
addressed include availability
offinance, raw material,
innovation and technology,
productivity, quality and
environment-friendly
manufacturing practices,
promoting exports and creating
domestic demand.
The
key
policy
recommendations include
strengthen- ing the existing
scheme
of
the
DHI
(Department of Heavy Industry)
on
enhancement
of
competitiveness of capital
goods sector by increasing
budgetary allocation and
increasing its scope to further
boost global competitiveness in
various sub sectors and
enhancing export of Indian
made capital goods through a
Heavy Industry Export and
Market
Development
Assistance Scheme (HIEMDA).
88
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Global temperatures in
February smashed previous
monthly records by an
unprecedented
amount,
according to NASA data,
sparking warnings of a climate
emergency.
It confirms preliminary analysis
from earlier in March, indicating
the
record-breaking
temperatures.
The
global
surface
temperatures across land and
ocean in February were 1.35
degree Celsius warmer than the
average temperature for the
month, from the baseline period
of 1951-1980.
The global record was set just
one month earlier, with January
already beating the average for
that month by 1.15 degree
Celsius above the average for
the baseline period.
Although the temperatures
have been spurred on by a very
large El Nino in the Pacific
Ocean, the temperature
smashed records set during the
last large El Nino from 1998,
which was at least as strong as
the current one.
The month did not break the
record for hottest month, since
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Ideonellasakaiensis 201-F6
that could almost completely
de- grade a thin film of PET in a
short span of six weeks at 30
degree C. The PET film was
almost fully degraded after six
weeks at 30 degree C
The bacterium degrades PET
using two enzymes that act on
it in sequence. First, the
bacterium adheres to PET and
produces an intermediate substance through hydrolysis.
The second enzyme then works
with water and acts on this
intermediate substance to
produce the two monomers
ethylene
glycol
and
terephthalic acid used for
making
PET
through
polymerisation
IRNSS-1F placed in orbit
ISRO successfully put into orbit
Indias sixth dedicated
navigation satellite, the IRNSS1F. The satellite was launched
on-board Indias workhorse
launch vehicle, the Polar
90
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Critically endangered
Great Indian Bustard seen on the banks of Tungabhadra
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Sports
SPORTS
Vijender singh beats Hungarys
Alexander Horwath
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delayed the start by two hours.
Shikhar Dhawan played the lead
with a chanceless 60 (44b, 9x4,
1x6) while Virat Kohli (41 not
out) supported him ably in a 94run stand for the second wicket.
Captain Mahendra Singh Dhoni
produced late fireworks,
scoring 20 off just six balls (two
sixes and a four), to ensure
Indias sixth Asia Cup title. This
was the 10th win in 11 matches
for India an encouraging
statistic ahead of the ICC World
T20.
Patna pirates are the winner of
Pro Kabaddi league
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Sports
the world like a head of state
for 17 years.
Before the election, the
Congress had overwhelmingly
passing a set of reforms
intended to make it more
transparent, professional and
accountable.
BrendomMcCullum quit
international cricket
96
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Evaluated Answer Booklet by experts with proper feedback, comments & guidance.
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General Studies (Paper I, II, III & IV) Online 100 % Reading Material of the
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of their argumentation.
Ambedkar himself made of
the Poona Pact the chief example of
his fight with Gandhi, but at the time
it was signed he was assiduous in
defending it against all critics, of
whom Godses fellow ideologues
were the most vociferous. The Poona
Pact was agreed after the Mahatma
went on a fast unto death, ostensibly
against the discrimination exercised
by caste Hindus against Dalits, but
also to protest the British granting
separate electorates to them as part
of the Communal Award just as
they had earlier to Muslims, and so
by default Hindus as well. By its
terms Ambedkar relinquished
separate electorates for the
reservations that in later years he
argued were ineffectual, because
they made Dalits dependent on
caste Hindu votes and support. Seen
by Congress as well as Hindu
nationalists as a divide and rule
policy meant to keep India under
British tutelage, separate electorates
had also threatened to fragment
Hindus as a community and reduce
their majority relative to Muslims.
Indeed, the grant of separate
electorates to Dalits had come out of
the Minorities Pact at the Round
Table Conference in London, where
Ambedkar had allied with Muslim,
Christian, Anglo-Indian and other
minorities who claimed to represent
a plurality of Indias population, thus
denying that any majority existed in
the country. And if there was no
majority in India, then of course
there were no minorities either,
which meant that these categories
could now be redefined beyond
the communal identities of Hindus
and Muslims.
Ambedkar and others in the
Minorities Pact argued that the
inequalities of Indian society meant
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Myanmar Democratisation
MYANMAR DEMOCRATISATION
Myanmar is presently witnessing
a major change towards democratic
values. The National League for
Democracy (NLD) under the
leadership of Aung San Suu Kyi has
won Myanmars Presidential election
with a big margin. NLD won 80
percent of the seats both in the Lower
House as well as in the Upper House
of the parliament. Along with that
they won 75 percent of seats in the
regional legislatures. Myanmar had
over five decades of military rule and
about four years of guided
democracy or semi-democracy.
After such a long period of military
rule transition to democracy towards
democracy is not complete in
Myanmar. Though the president and
one vice-president in the new
administration will be of NLDs
choice, the second vice-president
will be chosen by the military.
Similarly, the military will retain
control over the three top ministries defence, home and border affairs. All
this will have significant impact on
Myanmars relationship with other
countries. India will also have to
balance its approach because
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Myanmar Democratisation
for the development of N-E states.
Myanmars role is essential in Indias
Act East Policy.
Myanmars vast oil and natural
gas reserves and other resources
make it a natural partner for many
countries in the world. India, being
its next door neighbour, cannot be
indifferent to this reality. Besides,
geo-political considerations,
historical and civilizational links, and
the ethnic overlap across their
borders, have all come together to
make Indias North-East the land
bridge between the South and
South-East Asia through Myanmar.
The 1,640 km-long border between
Myanmar and the Indian states of
Arunachal Pradesh, Nagaland,
Manipur and Mizoram signifies the
importance of this eastern neighbour
for India. India expects to reap
132
and
Trans-Asian
Railways.
Withimproved
connectivity
apprehension about illegal migrants
also improve. This issue can also be
better taken care of with
democratisation of Myanmar
government.
Nevertheless, with better
connectivity and implementation of
various development projects, the
Asian Highway would enable the
North-East region to become a
business hub of South Asia. Thus, with
the coming of the Asian Highway,
Myanmar will become the point of
convergence as well as the linking
route between India and the other
South-East Asian countries. That, in
turn, will lead to the creation of more
secure and safe living spaces for the
populace residing on either side of
the border.
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