UPSC IAS The Hindu and Indian Express Current Affairs 12 August 2017 highlights are:
Growth likely to be in the lower range, closer to 6.5%
Highlights of the second volume of economic survey
- Growth is expected to slow down to 6.5%
- Indicators like credit growth, IIP, gross value added, manufacturing, investment – all are decelerating
- Farm loan waiver are expected to reduce the growth by .7%.
- Farm loan waivers are expected to have following impact a) change in expenditure and taxes of the Government b) crowding out impact via higher borrowings by Government c) crowding in impact via higher credit availability as banks NPA’s fall.
- Demonetization has decreased 3.5lakh crore of cash and increased number of income tax returns.
- Appreciation of rupee’s real exchange rate is affecting the export demand.
- There is an increasing stress on balance sheets of the companies in telecom and power sector.
- It suggests, monetary policy shall be eased and it is the time to give direct support to farmers to boost farm incomes.
The Major problems in India’s criminal justice delivery system are
- Slow trial and pending case
- Under trials in jails
- Low conviction rate due to ineffective investigation.
Speedy trials alone can undo the sense of injustice caused by the acquittal after years of Justice.
In South Asia, be the un-china
Doklam stand off has exposed weakness of Indian diplomacy. All of the Indian neighbours excluding Bhutan are following a policy of equi-distance. It is a position away from India’s past primacy in the region. India inspite of having strong cultural, ethnic relations in the region, it failed to enjoy the confidence of the neighbours.
The major reasons are
- China’s flow of huge investments in to the region.
- Weakening of SAARC process has hurt the sense of collective south asian construct. Alternate groupings such as South Asia Sub regional economic cooperation, BIMSTEC, Bangladesh, Bhutan, India and Nepal initiative, security and Growth for all in the region will not come close to it.
- India shall not pick the sides in the politics of the neighbours. It will harm its interests in the long run.
- India is not active in taking up infrastructure projects in the neighborhood. Opportunities are taken up by china. Hambantota project in Sri Lanka was first offered to India by Srilanka.
Above all, India must recognise that doing better with its neighbours is not about investing more or undue favors. It is about following a policy of mutual interests and of respect, which India is more culturally attuned.
No level playing field.
Insolvency and bankruptcy code has following loop holes.
- It do not provide for any qualifications for the interim and final Insolvency professionals.
- There is no provision for withdrawal of application once it is submitted.
- Any person can access the proprietary information of corporate debtor. It can vitiate the fundamental right to business under art 19(1)(g)