Daily Newspaper article’s summary 2018-09-19

Daily Newspaper article’s summary 2018-09-19

Summary of Newspaper artciles from ‘The Hindu’, ‘Economic Times’ and PIB
ARISE IAS: Demystifying UPSC IAS exams

Banking on mergers:
1.The merger is part of the government’s efforts to consolidate the banking industry with an eye on overcoming the bad loan crisis.
2.However, the trick lies in ensuring that the merger fallout is managed prudently; identifying synergies and exploiting scale efficiencies will be crucial here.
3.There is no denying the fact that there are too many public sector banks in India; given this, consolidation is a good idea in principle.

Celestial misfit:
1.This rationale has been questioned by Philip Metzger, a planetary physicist who has worked with the U.S. National Aeronautics and Space Administration, and others who have studied the history of classifying planets and come up with several exceptions to the third rule.
2.In a paper published in the journal Icarus , they point out that the only work in history that used this rule to classify planets was an article by William Herschel in 1802.
3.Physics has many examples where an idea was once discarded for being incorrect, and much later emerged in a different form and gained acceptance — the concept of photons, for instance.

Evolving global equations and our foreign policy:
1.While the term non-alignment appears to be more archival than current, it has grand-fathered what operates as strategic autonomy today, and the strong adherence among policy-making elite hierarchies to shun dependence on any country, and to avoid any impression of subordination to a foreign power, a legacy held since the days of our founding fathers.
2.The fundamental aims of strategic autonomy, independence of action, non-interventionism overseas except for humanitarian assistance and disaster relief, being a democratic, responsible stakeholder, continue from the previous Congress-led government although the Hindu nationalist tradition is to reject Nehruvian thought.
3.The control of the rimland, to use Mackinder’s term, surrounding India is now dominated by China, both as a result of her presence in and occupation of Tibet, and in the 21st century her leveraging of the Belt and Road Initiative in Central Asia, through Kashmir into Pakistan and the development of Gwadar port at the apex of the Arabian Sea.

With protesters in a police station:
1.After the regular round of rhetoric, and a march with flags and slogans, they proceeded to court arrest at the police station on Parliament Street.
2.As cigarettes were lit and tea noisily sipped, the dejection at getting robbed took a back seat as amusing anecdotes started pouring in about the financial status of their brethren.
3.This was the police station where freedom fighter Bhagat Singh had been lodged during trial in the Delhi Assembly bombing case of 1929.

What is ‘monetary offset’ in economics?:
1.A major responsibility of a central bank is to keep inflation under control and prevent the economy from overshooting its potential growth.
2.However, deficit spending by governments, which is financed through the creation of fresh money by the central bank, can increase the overall money supply and lead to an increase in prices across the economy.
3.In such cases, the central bank can choose to offset the inflationary impact of high government spending by contracting the overall supply of money in the economy.

A poor imitation:
1.Discussing the current contest between opposing ideas of India, Malini Parthasarathy hit the nail on the head when she wrote, “Neither the Congress nor other opposition parties acknowledge emphatically that what is really unfolding in the political arena is a fundamental contest between the original pluralist vision of Indian democracy and the monocultural and exclusivist view of the Hindu nationalists” (“ India’s shrinking democratic space ”, September 15).
2.The strategy appeared to fail earlier in both cases: the BJP won Gujarat, while in Karnataka, despite the Congress’s success in forming a coalition government, there is little doubt that it faced a stinging defeat.
3.What the Congress needs to do is to return to its philosophical roots and clearly lay out a vision of a composite nation, as imagined by Gandhi and Nehru, which is imperilled by the BJP’s ideological onslaught.

‘India’s challenge will be fighting non-communicable diseases,’ says Prathap C. Reddy:
1.As Apollo Hospitals celebrates the 35th anniversary of its founding, the group’s chairman, Prathap C. Reddy, is looking ahead to make the most of the global advances in medical technology rather than choosing to rest on past laurels.
2.In this conversation, Dr. Reddy speaks on the need for increased government spending on health, the right pricing strategies for the soon-to-be-launched Central scheme of Ayushmaan Bharat, and the scope for medical tourism in India.
3.As far as the Apollo group is concerned, we are expanding to Tier 2 cities, and we are now in education, training of doctors, nurses and technicians, the pharma industry, and healthcare insurance too.

The pointlessness of hashtags:
1.I strongly doubt whether most of the bourgeois merrily identifying with Naxalism on Twitter would be comfortable with this ultimate goal if they really knew what it was, and that they were precisely one of the targets of the CPI (Maoist).
2.I again strongly doubt whether those tweeting urban Naxal or MeTooUrbanNaxal would survive a week in the forests of Chhattisgarh, where access to Twitter may be deeply problematic.
3.And there is no doubt in my mind that the Maoist movement in India is a product of India’s imbalanced development policies that have heightened exploitation and deprivation of the most vulnerable groups by big capital, and sheer political and economic neglect of the marginalised.

Ten years on, in uncharted waters:
1.Global macroeconomic imbalances, a loose monetary policy in the U.S., the housing bubble in the U.S. again and elsewhere, a bloated financial sector, a flawed belief in efficient markets, greedy bankers, incompetent rating agencies — these and others have been identified as among the villains of the crisis.
2.As economic historian Adam Tooze has pointed out in a recent book and in an article in Foreign Affairs (September/October 2018), they had financed these assets through large borrowings in the American wholesale market.
3.Various political consequences have unfolded: the Eurozone crisis, Brexit , the rise of nationalism and anti-immigrant policies, the Trump phenomenon in the U.S. and the return of protectionism.

Government unlikely to go for NRI deposits to stem falling rupee: ET NOW:
1.The report quoted sources as saying that FCNR is a short term move and not a permanent solution to the rupee crisis.
2.Also, India’s macroeconomic condition is stronger than 2013 with low inflation and higher foreign exchange reserves, the report added.
3.The report quoted sources as saying that FCNR is a short term move and not a permanent solution to the rupee crisis.

S&P assigns rating to Kerala; cites weak budgetary, debt metrics:
1.”Our ratings on Kerala reflect the Indian state’s weak budgetary and debt metrics driven by its large spending on socio-economic welfare to support a low-income economy.
2.We view the state’s internal liquidity position as very weak but mitigated by proven access to deep domestic capital markets,” S&P said.
3.The stable outlook reflects our view of the state’s strong economic growth over the next 12 months and the likeliness of the central government support in the case of financial distress, it added.

Statement of Secretary DAE Dr Sekhar Basu at the 62nd General Conference of the IAE:
1.India reiterates its assigning primacy to IAEA in its central role in promotion of atomic energy for peaceful uses and prosperity of the mankind while maintaining its due support in safeguards.
2.The 27th IAEA Fusion Energy Conference (FEC 2018) aiming to provide a forum for the discussion on key physics and technology issues is being held in India in October 2018.
3.I am glad to inform that in the field of Neutrino Physics we signed inter-governmental collaboration agreement with Fermilab during the visit of US Secretary of Energy to India in April this year.

Visit of President of Islamic Republic of Afghanistan to India:
1.President of the Islamic Republic of Afghanistan, Dr. Mohammad Ashraf Ghani paid a visit to India on September 19, 2018 at the invitation of Prime Minister Narendra Modi.
2.The two leaders also appreciated the successful conclusion of the India-Afghanistan trade and investment show in Mumbai from September 12-15, 2018 and expressed determination to strengthen connectivity, including through Chabahar port and Air-Freight Corridor.
3.President Ghani briefed the Prime Minister on initiatives by his government towards peace & reconciliation and also in confronting the challenges of terrorism and extremism imposed on Afghanistan and its people.

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