Current Affairs > Daily Current affairs

Back
Daily News Analysis 06-12-2015

S.NO.

NEWS ITEM

SYLLUBUS

ESSENCE OF THE ARTICLE

1.         

 

Red tape stalls US investment (Page 12)

a)     I.R

a)     Official said US e-commerce firms are seeking consistency across India on taxation and a proper mechanism on sourcing.

2.

Madhesi leaders to seek Indias mediation during Delhi visit (Pg 13)

a)     I.R

a)     The Nepali agitators (who have enforced an economic blockade on the Nepal-India border) will arrive in Delhi to present their case to the Indian leadership during a short visit starting on Dec 6.

3.

Proposal to achieve zero emissions by 2060-80 (Page14)

a)     International

a)     The final draft of the Paris Climate agreement (which will be taken up for discussion in the high-level segment of Ministers beginning Dec 7) was released by the UNFCCC on Dec 6.

4.

Chinas world bank makes the US balk (Page 14)

a)     International

a)     As top leaders met at a lush Bali resort in October 2013, President Xi Jinping of China described his vision for a new multinational, multibillion-dollar bank to finance roads, rails and power grids across Asia.

5.

Israel is systematically killing Palestinians: Abbas (Pgs 1, 12)

a)     International

a)     Palestine President Mahmoud Abbas has said the recent eruption of violence in Jerusalem and West Bank is a reaction to the violence and atrocities committed by Israeli security forces and settlers against Palestinians.

6.

Javadekar backs Jaitleys stand on homosexuality (Page 12)

a)     International

b)     National

a)    Javadekar supported Jaitleys contention that the Supreme Court should reconsider its verdict setting aside a Delhi High Court judgment that decriminalised homosexual acts.

7.

Tirupati temple may move stash to Centres Gold scheme, cut imports (Page 15)

a)     Economy

a)     The richest Hindu temple in the world could soon come to the rescue of Prime Minister Narendra Modis plan to recycle tonnes of idle gold and cut economy-hurting imports.

8.

PSLV bags two more US launch orders (Page 8)

a)     National

b)     S&T

a)     Two more US satellite launch contracts have come the way of ISROs PSLV rocket, this time from commercial weather satellite company PlanetiQ.

9.

Plutos amazing variety revealed (Page 20)

a)     S&T

b)     Geography

a)     The US space agency has released a series of sharp Pluto snapshots, billing them as the best close-ups of the dwarf planet we may see for decades. On July 14, NASAs New Horizons became the first spacecraft to pass by Pluto, offering scientists unprecedented insight.

 

 

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.         

 

Red tape stalls US investment (Page 12)

a)     I.R

a)     India – US relations

b)     Bilateral Investment Treaty (BIT)

c)     Investor-State Dispute Settlement (ISDS)

 

a) Official said US e-commerce firms are seeking consistency across India on taxation and a proper mechanism on sourcing. For instance, in e-commerce, companies such as Amazon (which is planning an investment of $5 billion) are troubled by the proposed State-level taxes (including in Karnataka) on payments by buyers to sellers on e-commerce platforms.

b)     He said several US-based multinationals and pension funds are considering multi-billion dollar investments in India in sectors such as infrastructure, but are concerned about inadequate protection of their investments under the current laws in case of any dispute.

c)     Therefore, they want India and the US to expeditiously sign a BIT with specific clauses on ISDS as well as provisions limiting governments from expropriating (or the act of govt forcibly taking private property citing public interest) the investments made by foreign investors when there is a dispute.

d)     He said an effective BIT will also enable more direct investments from the US into India instead of their being routed through Mauritius and Singapore (for tax and other benefits). US companies are reluctant to commit investments due to judicial delays in India and therefore want the govt to promote out-of-court settlements through arbitration.

e)    India and the US have been holding talks on a proposed BIT since 2008, but the progress has been slow owing to differences, including on ISDS provisions, under which investors can move an international arbitration tribunal against the govt in case of disputes. India wants companies to exhaust the local administrative and judicial remedies before going in for international arbitration.

2.

Madhesi leaders to seek Indias mediation during Delhi visit (Page 13)

a)     I.R

a)     India – Nepal relations

b)     India – Nepal economic blockade

c)     Nepals new Constitution

d)     Madhesis concerns

e)     United Madhesi Democratic Front (UMDF)  

a)     The Nepali agitators (who have enforced an economic blockade on the Nepal-India border) will arrive in Delhi to present their case to the Indian leadership during a short visit starting on Dec 6. It will be the first time that the top leaders of UMDF will visit India together since beginning of the blockade more than three months ago.

b)     Sources in Nepal told that the visit by UMDF delegation was necessitated by the framework agreement that was earlier agreed to between the Nepal govt and UMDF to end the blockade which has caused a humanitarian disaster especially for the impoverished sections of the Nepal society.

c)     The visit is also a sign that the govt of Nepal and the Madhesi leaders are close to a declaration to end blockade. Sources said the visit would give its leadership a chance to seek guarantees from India about securing a long-lasting solution to their demands.

3.

Proposal to achieve zero emissions by 2060-80 (Page 14)

a)     International

a)     Paris Climate Summit 2015

b)    Climate change

c)     Greenhouse gas (GHG) emissions

d)     Carbon budget

e)     UNFCCC

 

 

a)     The final draft of the Paris Climate agreement (which will be taken up for discussion in the high-level segment of Ministers beginning Dec 7) was released by UNFCCC on Dec 6.

b)     The draft text has several optional provisions and amendments for consideration by various parties, as French Presidency and the member nations of the UNFCCC thrash out differences and try to arrive at a consensus. The unresolved issues are placed within square brackets in the text.

c)     The overall goal of the Paris agreement (to keep global temperature rise to a specified quantum compared to pre-industrial levels) is pegged at either below 1.5 degrees C, or, as well below 2 degrees C.

d)     Many contentious issues remain to be resolved in the draft, starting with long-term quantified emissions reduction for a 2050 target, finance for developing countries, updated targets for countries based on stocktaking of carbon dioxide, equitable distribution of the remaining carbon budget for the world, and making explicit the responsibility of developing countries versus developed nations.

e)     On peaking of GHG emissions, the discussion is on making it as soon as possible with the caveat that peaking requires deeper cuts of emissions by developed countries and longer periods for developing countries. Achieving zero GHG emissions growth by 2060-80 is proposed.

4.

Chinas world bank makes the US balk (Page 14)

a)     International

a)     New Development Bank

b)     Asian Infrastructure Investment Bank (AIIB)

c)     Bretton Woods system

d)     Chinas One Belt One Road initiative

e)     Chinas Silk Road initiative

a)     As top leaders met at a lush Bali resort in Oct 2013, President Xi Jinping of China described his vision for a new multinational, multibillion-dollar bank to finance roads, rails and power grids across Asia. Under Chinese stewardship, the bank would tackle the slow development in poor countries that was holding the region back from becoming the wealth centre of the world.

b)     China (with its vast wealth and resources) rivals the US at global economic table. It was a position confirmed this week when IMF blessed the Chinese renminbi as one of the worlds elite currencies, alongside the dollar, euro, pound and yen.

c)     While many countries had similar doubts as the US, they figured they could shape the organisation from the inside. The Chinese-led institution (the AIIB) is picking its first projects. The choices will provide critical insight into how China plans to wield its power.

d)     China is taking direct aim at the current development regime, the Bretton Woods system established under US leadership after World War II to help stabilise currencies and promote growth.

e)     As a complement to the new bank, China is rolling out the One Belt, One Road program for the construction of a network of roads, rails and pipelines along old Silk Road route that runs through Central Asia to Europe. A maritime equivalent calls for building ports from Southeast Asia to East Africa to Mediterranean.

5.

Israel is systematically killing Palestinians: Abbas (Pages 1 and 12)

a)     International

a)     Israel – Palestine relations

b)     Palestinian issue

 

a)     Palestine President Mahmoud Abbas has said the recent eruption of violence in Jerusalem and West Bank is a reaction to the violence and atrocities committed by Israeli security forces and settlers against Palestinians.

b)     He said this spontaneous movement was launched by Palestinians, Muslims and Christians in Jerusalem, as a result of the Israeli sanctions against them, including confiscation of their land, disallowing them to build their homes, and imposing huge taxes.

c) The international community has failed to implement the two-state solution and resolve the Palestinian cause because they deal with Israel as a state above the international law.

d)     He appreciated Indias support for Palestinian cause. Recalling President Pranabs recent visit to Ramallah when he reiterated New Delhis support for the establishment of a Palestinian state with East Jerusalem as its capital, Abbas said Indias position will be a strong support to us.

6.

Javadekar backs Jaitleys stand on homosexuality (Page 12)

a)     International

b)     National

a)     Paris Climate Summit 2015

b)     Climate change

c)     Global warming

d)     Decriminalisation of homosexuality acts

a)     Just before leaving for Paris for the ongoing climate change talks, Union Minister for Environment, Forests and Climate Change Javadekar said that while India wanted to be part of the solution to global warming, India was not part of the problem.

b)    He also discussed domestic politics, backing Finance Minister Arun Jaitleys view that homosexual acts should not be criminalised and said the BSPs protests in Parliament over Union Minister General V.K. Singhs dog analogy on death of Dalit children were staged with an eye on the Uttar Pradesh polls, scheduled for 2017.

c)  Javadekar supported Jaitleys contention that Supreme Court should reconsider its verdict setting aside a Delhi High Court judgment that decriminalised homosexual acts.

7.

Tirupati temple may move stash to Centres Gold scheme, cut imports (Page 15)

a)     Economy

a)     Gold monetisation scheme

a)     The richest Hindu temple in the world could soon come to the rescue of PM Modis plan to recycle tonnes of idle gold and cut economy-hurting imports.

b)     The gold monetisation scheme (aimed at persuading individuals, institutions and rich temples to deposit some of their gold stash with banks to recycle) has only attracted about one kg in a month out of a total hoard of over 20,000 tonnes.

c)     But the Sri Venkateswara Swamy Temple is believed to have been the abode of Lord Vekateswara for 5000 years, may become the biggest contributor with more than 5.5 tonnes of gold.

d)     India is the worlds second-biggest consumer of gold after China and the countrys insatiable appetite meant imports of the precious metal accounted for 28 percent of Indias trade deficit in the year ending March 2013.

8.

PSLV bags two more US launch orders (Page 8)

a)     National

b)     S&T

a)     PSLV

b)     PlanetiQ

c)     Antrix

d)     ISRO

a)     Two more US satellite launch contracts have come the way of ISROs PSLV rocket, this time from commercial weather satellite company PlanetiQ.

b)     PlanetiQ (the Maryland-based commercial weather satellites operator) recently signed a deal with Antrix Corporation for launching its first two weather satellites. Its final fleet totally will have 12 to 18 satellites.

c)     The PlanetiQ satellites are small bites for the PSLV, which can launch up to 1200 kg to medium distances (36,000 km) and 1800-kg satellites to low-Earth (below 2000 km) orbits.

d)     Until about a year ago, US satellite operators could not conceive of launching from India because of a longstanding US policy bar. In recent years, established US launch companies have moved on to lifting far heavier satellites (ten tonnes and beyond), leaving a demand for launchers that can put smaller satellites in space.

9.

Plutos amazing variety revealed (Page 20)

a)     S&T

b)     Geography

a)     New Horizon

b)     Dwarf planet

c)     NASA

a)     The US space agency has released a series of sharp Pluto snapshots, billing them as the best close-ups of the dwarf planet we may see for decades. On July 14, NASAs New Horizons became the first spacecraft to pass by Pluto, offering scientists unprecedented insight.

b)     Previously released high-resolution images from that historic flyby have revealed unparalleled geographical variety on the planet, from soaring mountains to sand dunes and frozen ice floes.

c)     The latest pictures are part of a sequence taken near New Horizons closest approach to Pluto and show a mix of terrains that are cratered, mountainous and glacial in nature. Official said these new images give us a breathtaking, super-high resolution window into Plutos geology.

d)     New Horizons (a nuclear powered spacecraft about the size of a baby grand piano) began a download of new images and other data several months ago and will continue to send data back to Earth until late next year.

e)     In October, data from the unmanned New Horizons probe revealed that Pluto has blue skies and patches of frozen water, as well as a rich variety of colours on its surface.

Branches

Ashok Nagar Branch
1-10-223/A, Sub-register office Line
Hyderabad
+91 9052 29 29 29, 9052 19 29 29

Madhapur Branch
Plot No.3, 2nd floor, Raghuma Towers
Hyderabad
+91 9052 492929

Delhi:
Old Rajendra Nagar

Send to mail

Request for call