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My Notes 27-October-2017 27-10-2017
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News

  1. Government working on tougher consumer protection law : A new consumer protection law is on anvil to crack down on misleading advertisements and to simplify the grievance redressal system.
  2. Don’t deny food items for lack of Aadhar, centre tells states - centre has instructed states not to deny a ration under PDS system for want of AAdhar.

 

Editorial

A bold step in bank reform

Recapitalisation of banks will help in reviving the economic growth as it will enhance flow of credit. It in turn will revive private investments. Unlike popular opinion, demand for working capital is still high in economy.

Revival plan is on table of the Government from 2014. But Government was reluctant to bail out banks as it considers this as a bad precedent. Though, it has provided 70,000cr rupees under Indradhanush scheme, it was very minimal.

The bad loan problem was mistaken for mismanagement of banks. So, privatisation is given as an easy way out. it need to be remembered that bank failures are also rampant in private sector. So, In reality problem is deep seated in policy paralysis and stalled infrastructure projects and not solely in the management of Public sector banks. Privatisation is not a solution.

On the other side, Government need not worry much about fiscal impact of recapitalisation of banks.

 

 

Czech churn

Czech Republic billionaire Andrew Babis has won the elections and his party ANO is expected to form a Government. The pattern is similar to other EU countries. There is a  Growth of right wing that tried to gain votes by nurturing fears of immigration.

 

The identity Puzzle

Law commission of India submitted a draft of the DNA based Technology(use and regulation) bill 2017 to the Government. It seeks to regulate human DNA profiling and establish standard procedures for DNA testing. The salient features of the recommendations include the constitution of a statutory body called the DNA profiling board and a DNA data bank. DNA profiling board will undertake functions such as a laying down procedures and standards to establish laboratories. It also supervises, monitors quality standards in laboratories. The data bank will primarily store DNA profiles received form the  accredited laboratories.

 

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