Dec 23 rd, 2015
BloggingNo Comments

News for 22nd December



PMO Paperless Target

Step: PMO has decided to shift 90% of it’s government transactions in payments and receipts to electronic mode.
Implementation by: It will be implemented by DEITY
Benefits: For JAM trinity all transactions needs to be moved online and in that case it will be very helpful
Where, J stands for “Jan Dhan Yojana”
A for “Aadhar Card” i.e. providing a unique identification number to every citizen of India to better target subsidies
M stands for “Mobile Payments” for easy remittances of money even in remote location and it will be helpful as well as there are over 869 million subscribers currently

RS passed SC/ST Bill

Effect of Bill: For stringent action against those people who are compelling member from SC/ST categories to carry human or animal carcasses, doing manual scavenging etc.
– It will amend SC and ST (Prevention of Atrocities) Act, 1989
– Provision of special courts for trial offences
New Offences: garlanding with footwear, prohibiting human scavenging or animal carcasses, abusing them, feelings of ill-will against them, boycott against them etc.
– A Public servant neglecting his duties relating to SC or ST shall be punishable for 6 months to 1 year

Draft Civil Aviation Policy 2015

Issue: Indecision on 5/20 rule and new ground handling policy
Ground Handling: It involves all types of works related to management between the time it arrives to takes off
– According, to the draft each airport operator to have at least three GHAs (one of domestic airline of its own or in JV)
– Contract employees on a contract of one year, which is against labour laws
Security: Police verification and on-ground vigilance of such a large chunk of workforce in short period of time will be difficult
Productivity Decrease: As number of GHAs will increase, more space for their equipments etc.
Low Motivation: As labor will be on contract, so expecting high skills and efficiency from them will not prove to be worthy
What’s 5/20 rule: It says that an airline needs to have at least 20 aricraft and operational excellence for 5 years to start international operations

Minimum Wage reforms

Labour Ministry trying to merge existing wage-related laws and set a minimum wage nationally
Need: As 90% of workforce in India is in informal economy and contributes for almost 50% national product, employers distort the situation because of disproportionate power in their hands and so having a law for minimum wage is considered good
Effects: Will help in poverty alleviation
More Suggestions: Optimal minimum wage set by government followed by periodic hike linked to inflation

Rajya Sabha Eager to Pass Juvenile Bill

– After the release of juvenile convicted in Dec-16-2012 rape case, Rajya Sabha has been agreed to pass it
– Currently, children<18 yrs of age are subjected to criminal action only in a specialized juvenile system
Proposed law will categorize offences into three categories of heinous, serious and petty
Side-effects: The idea can ruin life of many children in the age group of 16-18 years
And we must not believe in revenge as “An eye for an eye makes the world blind”.

Gender Inequality Issue in Appointment of Priests in Hindu Temples of Tamil Nadu

Agamas are the rules that govern temple construction and worship
Issue: Women are neglected in various legislative and judicial processes, plus in their appointment in religious posts
Article#14 (Equality) and Article#17 (Abolition of Untouchability) are being violated
Due to menstruating issue they have been kept out of priesthood many a times, but in non-agama temple recently after Madras High Court judgment a woman priest has been appointed

International Affairs

India and Madhesis Issue after Kathmandu package

Nepal government has decided few amendments keeping in view the issues Madhesis have. Some, new steps include:
– State demarcation, – Constituencies delimitation, – Proportional representation for them etc.
Issue with India: India happy with the amendments
Madhesis Issue: United Madhesis democratic Front (UMDF) not happy with these amendments as according to them their main demands for separate state and identity are not met
Who are Madhesis: They basically migrated from India to Nepal long back, which after Nepal’s new constitution came into force have been marginalized by not giving them effective representation and power, and so they started agitation against it.

UNSC Syria Peace Plan

UNSC adopted a resolution for peace in Syria
Election within 18 months, – A new constitution, – Ceasefire between President Bashar al-Assad and rebels within a month
ISIS captured region, – Difference in the thinking of involved nations like Saudi Arabia and Iran conflicts, Russia and Turkey conflicts
– Difference in opinion of nations about role of Assad in future
– Since the end of cold war both Russia and US were involved here, out of which Russia sees it as a strategic asset where it has its only naval base outside Soviet region in Tartus and from here it can influence West Asia politics.
– Also, it was Russia which took a stand against US when it was on the verge to attack Syria in 2013 on the basis of use of chemical weapons by Syria against rebels

Dargah Diplomacy

This thing has come into picture with the approval of invitation to Shahbaz Sharif, CM of Pakistani Punjab who will come India to attend Urs celebration in Hazrat Nizamuddin Auliya
Much has been done before like starting bus service during Atal Bihari Vajpayee time and then some new bus services during tenure of PM Man Mohan Singh.


RBI Discussion on Peer-to-Peer Lending

To reduce the number of categories of NBFCs and varied regulations
What’s peer to peer lending?
– It will allow an individual to borrow and lend money with a financial institution as an intermediary
– Will help lenders to find an alternate and attractive source of income
– Financial intermediaries in between will increase its credibility
NBFC-AA: It will provide technology-enabled solution to look after their financial assets

How to keep fiscal deficit in Limit

Issue: Additional burden because of Seventh Pay Commission and One Rank One Pension
Government Step: They are thinking of increasing the service tax rate by 2% to make it 16%
– But the problem is according to laffer curve, which says that increasing the service tax may not grow the taxable base and it is not going to cover the expenses of SPC and OROP
Another Way: By strategic sales and disinvestments

It says that after a certain rate people don’t work hard and so tax revenue reduces.

Stock Markets India

They do not show the actual performance of Indian economy, but future prospects of a company
Problem: Nifty is down by nearly 7% over past 12 months, in time when oil and auto demands are pointing towards economic recovery
– Reason for problem is business links to global trends and fund outflows
– More than 50% of revenues of top 100 companies of India are unrelated to Indian economy

Section 25, Not-for-profit companies

Section 25 companies are formed for purpose of promoting art, commerce, science, religion, charity etc., spends its profits on promotion of its objects etc.

Cover pic Source:

Be the first to post a comment.

Add a comment