Daily Newspaper article’s summary 2018-10-02

Daily Newspaper article’s summary 2018-10-02

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

Rescuing IL&FS:
1.By explicitly stating its intent to “ensure that needed liquidity is arranged for IL&FS from the financial system”, the Centre has sent out an unambiguous message to the markets that it will not allow the company to fail.
2.But which lender or shareholder would commit to extending support to the company when it was defaulting regularly and the same set of people responsible for the mismanagement continued to be in charge?
3.The interlinkages between IL&FS and other financial sector entities such as banks, mutual funds and infrastructure players are too strong and the company would have taken them all down with it if it were allowed to fail.

Up in the air — on stubble burning:
1.To address this, and under directions from the Supreme Court-constituted Environment Pollution (Prevention and Control) Authority, or EPCA, the Centre is partnering with Punjab, Haryana and Uttar Pradesh to provide farmers with a range of mechanised implements to clear their fields of paddy crop residue to prepare for sowing wheat.
2.There is a 50% subsidy to farmers, and a 75% waiver to cooperative societies, agencies that rent out equipment, farmers’ interest groups or gram panchayats to buy such machines.
3.The rising cost of labour nudged farmers to adopt mechanised equipment that, while efficient, left behind much longer stalks of paddy than what the traditional practice of removing them by hand did.

The algebra of dissent:
1.One Chief Justice of India simply repeated arguments of the counsel for most of the judgment and then gave his reasoning in cursory paragraphs.
2.Gopalan v. State of Madras (1950), Justice Fazl Ali dissented, denying that ‘procedure established by law’ in the life and liberty provisions meant just any ‘law’, not due process.
3.It was his majority view in Golaknath (1967) that eventually paved the way for the Basic Structure or Kesavananda case (1973) on the misuse of power.

At Sabarimala, walking the extra mile:
1.The path-breaking verdict of the Supreme Court striking down the exclusion of women in the 10-50 age group from the Sabarimala temple in Kerala might have put to rest the long-raging question of gender discrimination.
2.Agencies of the Kerala government and the Travancore Devaswom Board (TDB) already have their hands full in restoring normalcy in the area that was affected by the flood-swollen Pampa river before the annual pilgrimage begins mid-November.
3.The dozen buildings and a few sparsely furnished cottages, that were built by sponsors nearly 50 years ago, offer accommodation to not more than 3,000 pilgrims at a time.

The voice that is great within us:
1.The ongoing controversy in the United States about the proposed appointment of Federal Judge Brett Kavanaugh to the U.S. Supreme Court as the nominee of the Republican Party, even as he stands accused of sexually assaulting Christine Blasey Ford, in 1982, when they were both teenagers, hinges exactly on the truth of her testimony versus his defence.
2.As became clear in the Senate hearings on September 27, the palpable veracity of Professor Ford’s account over Judge Kavanaugh’s denial would likely still not change the Republican Party’s nomination of him (the outcome of the proceedings, including an FBI investigation, is pending as this article goes to press).
3.This was the voice that made him undertake life-threatening fasts his health wouldn’t permit; withdraw from active politics at the most crucial junctures of India’s anti-colonial struggle; leave factual errors and narrative inconsistencies in texts he wrote after readers had pointed out obvious mistakes; and, most difficult to understand, embark on life-long ordeals of a sexual nature, involving not just his own celibacy and asceticism, but also that of his wife Kasturba, his fellow Ashramites, and his sons and their families.

Microfinance may need upto Rs 9,000 crore over 3 years to meet growth:
1.According to a report by rating agency Icra , the growth prospects for the sector remain good and the industry is expected to grow at 20-22 per cent in the current financial year.
2.The risk management policies of lenders in the sector need to be aligned with responsible and sustainable growth, where the overall indebtedness of the borrower from all formal sources is considered for leverage calculations rather than for compliance with regulatory norms, the agency said.
3.The asset quality indicators should be supported over the medium-term, by structural factors such as group selection/ elimination and the fact that MFIs represent the least cost of funding for borrowers.The segment remains vulnerable to income shocks and is politically sensitive.

Government didn’t want rescue at expense of state-run FIs:
1.NEW DELHI: The government pushed to replace the IL&FS board since, among other reasons, certain sections of the finance ministry were not comfortable with state-run institutions infusing more to save the firm.
2.“When we are asking banks to exit out of non-core assets, it makes no sense to force them salvage a failing firm,” said the official, adding that ultimately the government did not want IL&FS rescue to be at the expense of state-run lenders.
3.The government was also concerned about defaults by IL&FS and its group companies to other state-run institutions, which in turn would have had a contagion affect.

PM to receive UNEP Champions of the Earth Award on October 3:
1.PM to receive UNEP Champions of the Earth Award on October 3 The Prime Minister, Shri Narendra Modi, will receive the United Nations’ highest environmental honour, the ‘UNEP Champions of the Earth’ award at a special ceremony in Pravasi Bharatiya Kendra, New Delhi on October 3.
2.Prime Minister Modi has been selected in the leadership category for his pioneering work in championing the International Solar Alliance and for his unprecedented pledge to eliminate all single-use plastic in India by 2022.
3.The annual ‘Champions of the Earth’ prize is awarded to outstanding leaders from government, civil society and the private sector whose actions have had a positive impact on the environment.

PM addresses concluding session of Mahatma Gandhi International Sanitation Convention:
1.The Prime Minister visited a Digital Exhibition, accompanied by the Secretary General of the United Nations, Mr. Antonio Guterres.
2.He added that inspired by Mahatma Gandhi, Indians have made the Swachh Bharat Mission the world’s biggest people’s movement.
3.He highlighted the importance of the “4 Ps” in making the world clean: Political Leadership, Public Funding, Partnerships, and People’s participation.

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