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Daily News Analysis 13-04-2016

S.NO.

NEWS ITEM

SYLLUBUS

ESSENCE OF THE ARTICLE

1.         

 

Militaries of US, India to share their facilities (Pages 1 and 12)

a)     I.R

a)    In a significant decision that could have far-reaching implications for Indias military posture, India and the US have agreed in principle on a logistics support agreement that would make it easier for both militaries to share each others facilities.

2.

India-EU free trade talks stalled on Brexit worries (Page 15)

a)     I.R

b)     Economy

a)     According to official sources, the negotiations on the proposed India-EU Free Trade Agreement have been delayed due to the uncertainty over Brexit, or the possibility of Britain leaving the EU.

3.

EU plans to crack down on tax havens (Page 14)

a)     International

a)     The EU unveiled plans to force the worlds biggest multinationals to faithfully report earnings and pay their fair share of taxes, saying the Panama Papers scandal added to the need for change.

4.

Taliban launch Operation Omari (Page 14)

a)     International

a)    Taliban announced the start of their spring offensive, pledging to launch large-scale offensives against govt strongholds backed by suicide and guerrilla attacks to drive Afghanistans Western-backed govt from power.

5.

Its official: India set for an above normal monsoon (Pages 1 and 12)

a)     National

b)     Geography

a)     In line with recent predictions by private weather forecasters, Indias official weather forecasting agency too has said the monsoon is likely to be above normal and likely to be 106 percent of the average of 89 cm.

6.

Retail price inflation slows (Page 15)

a)     National

b)     Economy

a)     Government data showed that consumer price inflation slowed to 4.83 percent in March, the lowest reading in six months.

7.

Consumer sentiment worsens: CMIE index (Page 15)

a)     Economy

a)     According to a new index formulated by the Centre for Monitoring Indian Economy, the consumer sentiment in India deteriorated in the first quarter of 2016 with consumers getting more pessimistic about the future than they were at the start of the year.

 

 

 

 

 

 

 

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.         

 

Militaries of US, India to share their facilities (Pages 1 and 12)

a)     I.R

a)     India – US relations

b)     Logistics Support Agreement  

c)     Communications Interoperability and Security Memorandum of Agreement (CISMOA)

d)     Basic Exchange and Cooperation Agreement for Geo-spatial Cooperation (BECA)

e)     Maritime Security Dialogue

f)     White Shipping Agreement 

a)    In a significant decision that could have far-reaching implications for Indias military posture, India and the US have agreed in principle on a logistics support agreement (the first proposed in 2004 and resisted by the UPA govt for a decade) that would make it easier for both militaries to share each others facilities.

b)     The Logistics Exchange Memorandum of Agreement was the highlight of US Defence Secretary Ash Carters three-day visit to India, which began in Goa on April 10.

c)     Besides LEMOA, Carter and his Indian counterpart Manohar Parrikar announced initiatives to strengthen the growing strategic partnership.

d)     Denying that LEMOA would facilitate basing of US troops in India, Carter said that It makes it more routine and automatic for us to operate together. The three foundational agreements guide the US high technology cooperation with other countries.

e)     Besides LEMOA (traditionally called the Logistics Support Agreement), the others are Communications Interoperability and Security Memorandum of Agreement and Basic Exchange and Cooperation Agreement for Geo-spatial Cooperation.

f)     They also agreed to set up a new Maritime Security Dialogue between officials from our respective Defence and conclude an agreement to improve maritime domain awareness with an arrangement to improve sharing of data on commercial shipping traffic.

g)     Both countries will also deepen cooperation in Maritime Domain Awareness by finalising a White Shipping Agreement.

h)     With China in mind, the joint statement reiterated the importance of safeguarding maritime security and ensuring freedom of navigation and over-flight throughout the region, including in the South China Sea. In this context, the two countries agreed to start Navy-to- Navy discussions on submarine safety and antisubmarine warfare.

2.

India-EU free trade talks stalled on Brexit worries (Page 15)

a)     I.R

b)     Economy

a)     India – EU Summit

b)     Free Trade Agreement (FTA)

c)     Brexit

 

a)     According to official sources, the negotiations on the proposed India-EU Free Trade Agreement have been delayed due to the uncertainty over Brexit, or the possibility of Britain leaving the EU.

b)     The UK is slated to hold a referendum in June to decide whether it should stay as an EU member country.

c)     The EUs demand (that India must agree to eliminate the high duties on automobiles over a specified period of time, as a pre-condition for resuming the FTA negotiations) seems to be a strategy to buy time till there is more clarity on the Brexit situation and its economic consequences.

3.

EU plans to crack down on tax havens (Page 14)

a)     International

a)     Panama Papers

b)     Black money

c)     Lux Leaks scandal 2014

a)     The EU unveiled plans to force the worlds biggest multinationals to faithfully report earnings and pay their fair share of taxes, saying the Panama Papers scandal added to the need for change.

b)   The European Commission (the EUs executive arm) said under the new rules big companies operating in Europe would have to make public what they earn in each member state of the 28-nation bloc.

c)     Longstanding criticism of corporate tax policy blew up into the open with the Lux Leaks scandal in 2014, which exposed secret sweetheart tax deals given to huge corporations (including the likes of IKEA and Pepsi) by the small duchy of Luxembourg.

4.

Taliban launch Operation Omari (Page 14)

a)     International

a)     Afghan government – Taliban peace process

b)     Taliban

c)     Operation Omari

 

a)    Taliban announced the start of their spring offensive, pledging to launch large-scale offensives against govt strongholds backed by suicide and guerrilla attacks to drive Afghanistans Western-backed govt from power.

b)     The announcement of the start of Operation Omari (named after Taliban founder Mullah Mohammad Omar) came just days after John Kerry visited Kabul and reaffirmed US support for President Ashraf Ghanis government.

5.

Its official: India set for an above normal monsoon (Pages 1 and 12)

a)     National

b)     Geography

a)     Monsoons

b)     El Nino

c)     La Nina    

d)     Indian Ocean Dipole

e)     India Meteorological Department (IMD)

 

a)     In line with recent predictions by private weather forecasters, Indias official weather forecasting agency too has said the monsoon is likely to be above normal and likely to be 106 percent of the average of 89 cm.

b)     Monsoon rains within 96 percent and 104 percent of this average are considered normal in the terminology of the IMD.

c)     Most importantly, it hinges on a waning El Nino (a global, meteorological phenomenon thats associated with a warming of the waters of Central Pacific and correlated with droughts in India) and the historical observation that 7 out of 10 years, in the last century, that followed an El Nino saw normal or above normal monsoon rains in India.

d)     The years 2014 and 2015 were among the strongest El Nino years in meteorological history and were blamed for the climatically rare event of successive drought years. Though Pacific temperatures have not cooled enough, El Nino neutral conditions are expected to set in between June and July.

e)      According to the IMD, another meteorological phenomenon known as a positive Indian Ocean Dipole (where the western portions of the Indian Ocean are warmer than the east and thereby push rain-bearing clouds over India) is also likely to form during the middle of the monsoon season.

f)     Finally, a La Nina (or an anti-El Nino) and associated with heavy rains in India was expected to set in around September (too late for the Indian monsoon) but its onset is generally considered enabling for the rains.

g)     With the IMD predicting an above average monsoon this year, the govt said it expects agriculture production to be better in the 2016-17 crop year.

6.

Retail price inflation slows (Page 15)

a)     National

b)     Economy

a)     Consumer price inflation

b)     Index of Industrial Production (IIP)

c)     Inflation

d)     RBI

 

a)     Govt data showed that consumer price inflation slowed to 4.83 percent in March, the lowest reading in six months.

b)     The decrease in consumer price index was mainly due to the marginal easing of prices across most sectors, the most significant of which were the food & beverages and fuel & light segments.

c)     Indias industrial output as measured by the IIP snapped a three-month losing streak to clock 2 percent growth in February. The IIP moved to positive territory due to strong growth in infrastructure and consumer durables sectors.

d)     But experts said the industrial output numbers do not reflect sustainable recovery and the inflation trend could reverse in coming months.

e)     The IIP data assumes significance coming on back of other indicators (such as the Index of Eight Core Industries and the Manufacturing Purchasing Managers Index) also showing a pick-up in manufacturing activity.

f)     The RBI recently cut interest rates by 25 basis points to spur demand in the economy.

7.

Consumer sentiment worsens: CMIE index (Page 15)

a)     Economy

a)     Consumer Sentiments Index

b)     Centre for Monitoring Indian Economy (CMIE)

a)     According to a new index formulated by the Centre for Monitoring Indian Economy, the consumer sentiment in India deteriorated in the first quarter of 2016 with consumers getting more pessimistic about the future than they were at the start of the year.

b)     The CMIE Consumer Sentiments Index (which was introduced in January) shows that consumers economic conditions, sentiments, and expectations of what the future holds, have all been on a declining trend from January to March.

c)     The index of consumer sentiments declined by 2.2 percent compared to its level in February. It was also 5.3 percent lower than its level in January.

d)     The index of consumers current economic conditions was 4 percent lower in March than it was in January and 1.4 percent lower than what it was in February.

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