Current Affairs > Daily Current affairs

My notes 29DEC2015 30-11--0001


Terminology for understanding the today’s news paper

Swiss challenge method

“Swiss challenge method is a new process of giving contracts...Any person with credentials can submit a development proposal to the government. That proposal will be made online and a second person can give suggestions to improve and beat that proposal.”

He added that an expert committee will accept the best proposal and the original proposer will get a chance to accept it if it is an improvement on his proposal.

In case the original proposer is not able to match the more attractive and competing counter proposal, the project will be awarded to the counter-proposal.

Secured lenders – Lenders who have the collateral security of physical assets on their lending.

Press freedom Index – The index developed by the France based International Nongovernmental organization Reporters without borders. It ranks the countries on various parameters such as

1)     Media pluralism and independence

2)     Respect for the safety and freedom of journalists

3)     Legislative, institutional and infrastructural environment in which media operates.

India was ranked 136 out of 180 nations worldwide in terms of press freedom in 2015.

Doha development agenda – It was adopted in 2001. The objective is to bring a just and equitable trading system. It involves reduction of unacceptably higher subsidies by developed countries and adequate protection that need to be given to the farmers of developing countries. The present discussions are on framing the rules to put this agenda in to action.


My notes

Modis Lahore trip – Christmas course correction

The recent high level engagements between India and Pakistan show that the changing preferences of Indian side and is a clear preference for summit diplomacy over incrementalism. The Major reasons for this renewed vigor of engagement inlude

1)     Increasing influence of china in Pakistan and its involvement in Afghan peace process is equally worrisome for India and USA

2)     The situation in Kashmir is fast deteriorating with increasing signs of radicalization of youth and tense borders

3)     Economic development of both the countries need a stable, peaceful south Asia for markets to develop and flourish

4)     Increasing the access to central Asian energy through Afghanistan and Pakistan

But in Pakistan, Army is always a stronger power center on matters concerned with India and to what extent army is in loop is a question. So, a backdoor engagement with army can calm their nerves.

Non state actors are always a major threat to India Pakistan peace process. Any terror attacks on India how they shall be handled is a big question. Prime ministers highly personalized diplomacy and his legacy can come under the question. So, a credible anti-terror mechanism and engagement process is necessary in the emergency.

Today, business ties can transform strategic ties. Improving the trade relations can better the bilateral relations.

Bankruptcy law in India

Financial distress resolution mechanism is a major hurdle in improving our ease of doing business index. The insolvency and Bankruptcy bill, 2015 is aimed at improving this situation.

SICA act, 1985, SARFAESI act 2002, The recovery of Debts due to banks and financial institutions act 1993 did not yield much results.

The current bill provides for

a)     Insolvency professionals who will be responsible for managing the process

b)     A fixed time frame is specified

c)     The secured lenders will have significant influence on the reorganisation process.

Financial inclusion report by Deepak Mohanty

1)     Insurance shall be made mandatory for all agricultural loans

2)     Aadhar linked mechanism for credit linked certificates

3)     Sukanya Shiksha – A programme for financial inclusion of women and her continued education

4)     Mobile technology for last mile connectivity

5)     A system of Unique identification for all MSME borrowers and sharing information with credit Bureaus

6)     Deepening of credit guarantee markets

Kelkar panel on PPP  in Infrastructure

1)     Discourage of swiss challenge mode of auctioning

2)     A PPP policy supported by parliament

3)     A Mid way Renegotiation mechanism for the projects

4)     Guidelines shall be set for Government audit

5)     Equitable risk allocation between Government and private player

6)     Creation of Independent sector specific regulators

 Question of the day

 1) Do you think financial inclusion can bring women empowerment. Discuss in the light of deepak Mohanty committee report


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