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Daily News Analysis 09-02-2015

 

S.NO.

NEWS ITEM

SYLLUBUS

ESSENCE OF THE ARTICLE

1.

No change in n-liability law: MEA (Pages 1 and 10)

a)     I.R

a)     Govt said that the immediate liability for any incident will be directed only to the operator.

2.

Doval, Yang work on formulations to resolve boundary row (Page 10)

a)     I.R

a)      Indian official and Chinese official discussed formulations to resolve Sino-Indian border issue to increase economic partnership.

3.

Four-way Ukraine summit planned (Page 12)

a)     International

a)     French, German and Ukrainian leaders are planning a summit with Russian President to stop Ukraine conflict.

4.

N.Korea fires short range missiles (Page 12)

a)     International

a)     North Korea test fired five short-range missiles into the East Sea to check cross-border tensions.

5.

India to deploy global calculator to study climate impact (Page 7)

a)     International

b)     National

a)     The global calculator could look at transport efficiency, renewable energy, crop yields and forests.

6.

Aim for high growth rate: PM (Page 1)

a)     National

a)     PM asked each State to set up two task forces (on poverty alleviation and agricultural development) under the support of the Aayog.

7.

Takeaways from the credit policy (Page 13)

a)     Economy

a)     RBI is waiting for three important events – Budget, Monetary policy and Fiscal policy.

8.

Help for 3 cities to cope with urban challenges (Pages 1 and 10)

a)     National

a)     Flooding, infrastructure inadequacies and pollution are the common challenges in the three Indian cities (Bengaluru, Chennai and Surat), which selected for Resilient cities project.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.

No change in n-liability law: MEA (Pages 1 and 10)

a)     I.R

a)     India – US relations

b)     Civil Nuclear Agreement

c)     Civil Liability for Nuclear Damage Act 2010

d)     Section 17(b)

e)     Section 46

f)     Nuclear Power Corporation of India Ltd  (NPCIL)

a)     The govt said US suppliers of nuclear reactors and parts will not be directly liable in case of a nuclear accident, nor can they be appealed by Indian nuclear operators unless the contract they sign clearly states it.

b)     Previously, it has assured the US and other suppliers that their liability would be paid out of an insurance pool of approximately $250 million, to be funded equally by the govt and the govt-owned insurance companies.

c)     The Ministry of External Affairs said that the govt was not making changes to the Civil Liability for Nuclear Damages Act 2010 but would read the Act to mean that the suppliers liability was not a mandatory part of the contracts to be signed.

d)     The Ministry makes it clear that immediate liability for any incident will be channelled only to the operator - in this case the public sector unit NPCIL.

2.

Doval, Yang work on formulations to resolve boundary row (Page 10)

a)     I.R

a)     India – China relations

b)     Border disputes

c)     Economic ties

a)     Indias National Security Adviser Doval and Chinas State Councillor Yang discussed to work on formulations that could lead to the resolution of the Sino-Indian border row - an obstacle to a possible flow in New Delhi-Beijing economic partnership and the convergence of a strategic agenda in the Asia-Pacific.

b)     NSA Doval observed that India expected to intensify coordination with China and keep pushing forward the process of negotiations over boundaries.

c)     Chinese official observed that both sides should take the opportunities, remove the disturbances and strengthen the positive trend of China-India relations.

3.

Four-way Ukraine summit planned (Page 12)

a)     International

a)     Ukraine summit

b)     Ukraine conflict

c)     Russia – Ukraine relations

 

a)     French, German and Ukrainian leaders are planning a summit with Russian President Putin in an excited offer to stop escalating bloodshed in east Ukraine.

b)     Putin said the summit planned in the Belarussian capital Minsk would only take place if the leaders agreed on a number of points by then.

c)     During the latest push to keep peace hopes alive, the leaders continued to work on a package of measures to achieve a comprehensive settlement of the conflict in eastern Ukraine.

d)     The Ukrainian presidency said the leaders expect that their efforts during the Minsk meeting will lead to an immediate and unconditional bilateral ceasefire.

e)     A previous peace deal agreed in Minsk in September has been largely ignored, with fighting escalating in recent weeks and the Ukraine govt accusing the rebels of gathering troops for fresh offensives.

4.

N.Korea fires short range missiles (Page 12)

a)     International

a)     North Korea – US relations

b)     East Sea (Sea of Japan)

a)     North Korea test fired five short-range missiles into the sea off its east coast, raising cross-border tensions ahead of Seouls planned joint army drills with the US.

b)     The North fired the missiles into the East Sea from its eastern city of Wonsan.

c)     The North said it had test-fired an ultra-precision anti-ship rocket, which will be used across its navy before long.

5.

India to deploy global calculator to study climate impact (Page 7)

a)     International

b)     National

a)     Climate change

b)     Paris Climate talks 2015

c)     Intergovernmental Panel on Climate Change (IPCC)

d)    Indian Energy Security Scenarios (IESS)

e)     Intended Nationally Determined Contributions (INDC)

a)     Nearly 20 nations (including India) will establish a global calculator to calculate climate impact scenarios in their territories.

b)     Sources said it was a free, open-source interactive tool to help assess climate change scenarios over a period and make changes in lifestyle.

c)     The calculator could show climate impacts based on different choices and was linked to the latest IPCC reports.

d)     The calculator could look at transport efficiency, renewable energy, crop yields and forests but the world obviously needed to change the way it powered its lifestyle.

e)     Official said that India was among the first countries to develop its own tool to assess energy security under the support of the former Planning Commission, which was launched last year.

f)     A newer version of the IESS would be out soon. The tool was an improved version which looked at all options in India, including emissions while calculating scenarios.

g)     Colombia had developed a country calculator to present its INDC later this year before the climate change talks at Paris. 

6.

Aim for high growth rate: PM (Page 1)

a)     National

a)     NITI (the National Institution for Transforming India) Aayog  

b)     Planning Commission

c)     Swachh Bharat Abhiyan

a)     Demands for greater devolution of funds to the States dominated the first meeting of the governing council of the NITI Aayog.

b)      Union Finance Minister said the states highlighted greater financial devolution from the Centre and greater flexibility in the use of funds.

c)      He said the PM announced that the Aayog would constitute three sub-groups of CMs.

d)     One, for making recommendations on whether the 66 Centrally sponsored schemes should be continued, transferred to States or placed altogether.

e)     The second group would suggest means for the Aayog to promote skill development in the States and the third would evolve a proposal on institutional mechanisms needed to ensure the success of Swachh Bharat.

f)      The PM asked each State to set up two task forces under the support of the Aayog - one on poverty alleviation and the other on agricultural development with the Centres assistance.

7.

Takeaways from the credit policy (Page 13)

a)     Economy

a)     Monetary Policy

b)     Statutory Liquidity Ratio (SLR)

c)     Repo rate

d)     Inflation

e)     Fiscal consolidation

f)     Retail inflation

g)     GDP

a)     To serious observers of RBIs monetary policy, there are some non-issues distributed between some new announcements.

b)     The reduction in the SLR by 0.50 percentage point to 21.5 percent is a liquidity supporting move to an extent of about Rs.45000 crore.

c)     However, it will not have any immediate impact as most banks have over invested in SLR securities. 

d)     Though there is enough liquidity and generally favourable conditions (such as inflation trending down), banks have not passed on the benefits to their customers through lower lending rates. 

e)     Turning to the monetary statement, it is obvious that the RBI is waiting for three important events that are scheduled over this month.

f)     The Budget (Feb 28) will be analysed well worn. After all, monetary policy and the fiscal policy will have to move in same path to achieve macro-economic goals.

g)     It is not just fiscal consolidation but also the quality of such consolidation that will matter.

h)     The GDP data for 2014-15 as well as Jan retail inflation (CPI index) with the new base year 2011-12 will determine the direction and thrust of monetary policy. 

i)     The new CPI data will be watched carefully for inflation signals.

j)     If the CPI-based inflation continues its present trend and the govt sticks to fiscal consolidation (both quantitatively and qualitatively), the RBI may go in for a rate cut soon after the Budget and even before the next policy review date.

8.

Help for 3 cities to cope with urban challenges (Pages 1 and 10)

a)     National

a)     Resilient cities project

b)     Smart cities

c)     Urbanisation

d)     Globalisation

e)     Climate change

a)     Bengaluru, Chennai and Surat could each soon have an adviser - chief resilience officer.

b)     The advisers will have the mandate to work with all stakeholders to make their cities resilient to shocks and stresses among rapid urbanisation.

c)     All this because the three cities have selected to the 100 Resilient Cities project, run by the New York-based non-profit organisation Rockefeller Foundation.

d)     The common challenges in the three Indian cities are flooding, infrastructure inadequacies and pollution.

 

 

 

 

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