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My Notes 20-October-2017. 20-10-2017
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News

  1. Air quality nosedives inspite of a quieter Deepavali
  2. Sharif’s indicted for corruption
  3. Spain moves to suspend Catalonia’s autonomy
  4. Xi’s theory to be codified.
  5. China’s central bank warns of Minsky moment as economy powers ahead : credit growth is reaching its highest level in china and is creating an asset bubble. It can collapse at any point of time leading to recession. Minsky moment”in the economy, referring to a sudden collapse in asset prices after long periods of growth, sparked by debt or currency pressures.

Editorial

Back to the future

UPA Government has brought in new institutional mechanisms as advisory and decision making bodies. Prime Minister economic Advisory council and group of ministers are important among them. GoM’s are often criticised as symbol of policy paralysis.

NDA Government headed by Prime Minister Modi after coming to power dismantled these structures as pat of its philosophy - minimal Government and maximum governance. But, slowly these structures are coming in to shape with alternative names. Alternative mechanisms is the name used for GoM’s.(Air India Specific alternative mechanism). Economic advisory councils was actually created by Vajpayee Government and it advises were effectively used by Vajpayee and Man Mohan singh Government.

Similarly Prime Minister council on trade and Industry was a forum of corporate leaders to flag issues directly with head of the Government. Prime Minister Modi also has revived it in the name of champions of Change.

So, it clearly shows that present Government is on a learning path on economic slow down. But, transparency is essential int he functioning of these institutions.

 

A separate peace

Are India - Pakistan peace talks worth a damn? - An essay by Ashley tellis

Ashley tells argues that India - Pakistan will not yield any substantive outcomes for the following reasons.

  1. Pakistan intentions are not just to claim a territory form India. It’s major aim is to stop India’s ascendancy to great power. 
  2. Pakistan Army will not accept any peace agreement if the end result is dethroning military from its privileged position. Moreover, Pakistan Army believes perpetual conflict with India will keep its relevance intact.
  3. USA and China can not put adequate pressure on Pakistan for their own geo political reasons.

So, if peace talks have to succeed Pakistan army shall reconcile itself to India s strategic superiority with in south Asia.

 

West Asia, post IS

Growth of ISIS is rooted in statelessness, sectarian conflict  in Syria and Iraq. A collective front from USA, Russia, Kurdish forces, Iraq and Syrian Army led to the defeat of ISIS. But, soon after focus of these armed groups has shifted to their sectarian violence. In Iraq, fight has stared between Kurdish Peshmerga and government troops. Syria is soon expected to focus on Kurd autonomous region. So, mere military victors do not usher in long term peace. Politics shall accommodate diverse interests for a lasting peace.

 

A first step

Multi commodity exchange has introduced gold option contracts for the first time in India. They help in mitigating future risk. But the major risk is asset bubbles. In this scenario, Government shall keep itself non intruding for the markets to develop systematically.

 

Do all women have a right to enter Sabarimala?

  1. Prohibiting women to enter temples purely on the basis  of biological factor is violative of fundamental right to equality (15) and religious freedom to worship (25)
  2. Few people , a particular group is monopolising rights under the guise of management of religious institutions.

On the other side,

  1. Different temples in india has different customs and practices based on belief. They are managed accordingly. Art 26 provides for the right to manage the same. It also adds to the diversity and pluralism of India. Sabarimala Temple has unique history of its own and restrictions on women entry are to be seen from these. As god himself has owed to practice celibacy, restrictions on women entry are created. As per Supreme Court deity is a legal entity with specific rights.

 

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