Daily Newspaper article’s summary 2018-09-14
Summary of Newspaper artciles from ‘The Hindu’, ‘Economic Times’ and PIB
ARISE IAS: Demystifying UPSC IAS exams
1.It is debatable whether banks have the resources and manpower to do this when they are chasing the bigger borrowers for business and, increasingly these days, recoveries.
2.But the political class has chosen to turn a deaf ear to this advice, vitiating the credit culture and creating a moral hazard where farmer-borrowers assume that their loans will invariably be waived off.
3.It is a comment on the state of our polity that despite the important issues that Mr. Rajan raised, political parties have chosen to pick only the points that are convenient to them — about the period when these bad loans were made and the purported inaction over a list of high-profile fraud cases highlighted by him.
Uganda’s new hope:
1.On the surface, the Museveni government may have created the illusion that it has smoothed over the violent episode, yet there is an open challenge from Bobi Wine that could shake the ruling National Resistance Movement (NRM) to its very core.
2.Social media is also making it harder for the Museveni regime to keep facts hidden — starkly evidenced in the way images of Bobi Wine, lying apparently bruised and beaten on a hospital bed, went viral and stoked anger across the country.
3.In this brave new world of information connectivity, Bobi Wine and his ilk have a chance to focus attention on the pressing challenges that Uganda faces, including high unemployment rates, lack of economic opportunities, and rising crime.
What is ‘Arbitrage’ in Finance?:
1.Commodities and financial securities are the most common assets which are targeted by swift speculators looking for profits.
2.There is usually at least some risk involved in the process of arbitrage as the price of the asset could change drastically during the time when the speculator holds the asset, imposing huge losses on him.
3.It has been argued that arbitrage helps to allocate assets to their most urgent needs of society, thus improving economic efficiency.
Prison of patriarchy: Why India’s female workforce participation is so low:
1.While the video of this speech provoked outrage when it leaked on social media, the truth is that Mr. Kadam was only describing in crude terms the reality of marriage for a large percentage of Indian women, where usually the preferred form of spousal captivity is financial.
2.Also, counter-intuitively, this phenomenon is far more significant in higher income demographics, implying that the richer the family is, the lower the chances that they allow women to pursue a career.
3.The Supreme Court has set a benchmark of 25% of a husband’s net salary as a “just and proper” amount for alimony, leaving divorced women with full custody of the children at a quarter of the family income.
Paying at the pump: the causes and consequences of soaring fuel prices:
1.According to the Indian Oil Corporation (IOC), petrol hit a record high of ₹88.26 per litre on September 11 in Mumbai, where fuel prices are the highest among India’s four major metros.
2.When consumers end up facing higher fuel bills for using their petrol-powered two-wheelers or cars, and are also unsure of how the overall increase in the cost of living is going to impact their monthly budgets, they are likely to curtail non-essential consumption expenditure.
3.Given the extent to which Central and State taxes inflate the final fuel prices paid by consumers, the governments have the option of trimming excise duty and VAT, even if this would entail foregoing some revenue in the short-term.
Rajiv Gandhi assassination: The seven convicts have suffered enough:
1.In our system of parliamentary democracy, which we have borrowed from the U.K., the Governor is much like the King of the U.K., a constitutional head who has to act not at his or her own discretion, but on the advice of the Council of Ministers.
2.No doubt it has been held in Maru Ram’s case and other subsequent judgments of the Supreme Court that the Governor’s act of granting pardon is subject to judicial review and can be struck down if it is arbitrary or mala fide.
3.But can it be said that if the Tamil Nadu Governor grants pardon to the seven convicts on the basis of the recommendation of the State government, he will be acting in an arbitrary or mala fide manner?
Dam disclosures: on the Kerala floods:
1.But the government officials failed to heed repeated pleas from different research organisations, including the Periyar Samrakshana Samithi, for a controlled release of water from this dam.
2.The missing water level data of Kakki dam in the Pampa river system from the public domain is conspicuous as there has been a lot of hue and cry over its management.
3.With environmental experts and scientists suggesting that floods of this nature would no longer be a once-in-a-lifetime phenomenon, it is imperative to understand the real cause of the calamity and plug the gaps at the earliest.
An education that is in sync:
1.Just after Independence, a commission comprising educationists from India, the U.K. and the U.S., and chaired by Dr. S. Radhakrishnan, was formed “to report on Indian University Education and suggest improvements and extensions that may be desirable to suit present and future requirements of the country”.
2.One is immediately struck by the importance attached to the integration of Sciences, Technology, Engineering, Mathematics and Medicine and humanities in university teaching in both the RCR and NAP reports.
3.As in the NAP’s report, the purpose of higher education is to prepare graduates for work and life, as well as active and engaged citizenship — achieved only through the acquisition of knowledge, skills and competencies related to the profession they chose to specialise in and also written and oral communication skills, ability to work as a team, ethical decision making, critical thinking, and ability to apply knowledge in real world settings.
Drawing a curtain on the past:
1.“To divorce one from the other,” he said, “is to defeat the very purpose of democracy.” Now, 71 years after Independence, these values that Ambedkar saw as integral to India’s republic, find new meaning in a remarkable judgment of the Supreme Court in Navtej Singh Johar v. Union of India .
2.Its decision in cases concerning the entry of women into the Sabarimala temple, on the practice of female genital mutilation of minor girls in the Dawoodi Bohra community, on the validity of the Indian Penal Code’s adultery law, will all prove telling.
3.Ultimately, therefore, the true value of Navtej Singh Johar will only be seen when the court sees this theory as integral to its ability to judge clashes between the naked power of the state and personal liberty, to cases such as the challenge to the Aadhaar programme, which seek to reverse the transformation that the Constitution brings.
Government tenders worth Rs 15K cr cancelled over discriminatory conditions against domestic players:
1.The government issued public procurement order, 2017 in June last year to promote manufacturing and production of goods and services in India and enhance income and employment in the country.
2.The DIPP has asked the departments and public sector units (PSUs) for issuance of guidelines and notifications relating to declarations of items with sufficient local capacity, domestic content.
3.He emphasised the need to put special focus on reducing cost of production, flexible policies on labour, easy land transactions, logistics, cut in regulatory burdens, adoption of standards and increasing export competitiveness.
Rice, wheat producing countries should be concerned about India’s trade-distorting policy: US:
1.The US has alleged that India is providing massive subsidies to its farmers producing rice and wheat and said that other countries need to be concerned about New Delhi’s “trade distorting policy”.
2.Chief Agricultural Negotiator Office of the US Trade Representative (USTR) Gregory Doud made the comments during a Congressional hearing Thursday.
3.In May, Doud travelled to Geneva to deliver the US’ first ever counter notification to the WTO’s Committee on Agriculture concerning India’s market price support for rice and wheat.
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