Current Affairs > Daily Current affairs

Back
Daily News Analysis 26-02-2015

S.NO.

NEWS ITEM

SYLLUBUS

ESSENCE OF THE ARTICLE

1.

Cabinet approves agreement on BRICS development bank (Page 11)

a)     I.R

a)     The agreement will enter into force and the Bank begin operations only after all member-countries deposit their instruments of ratification with Brazil.

2.

Strategic patience on nuclear liability (Page 8)

a)     I.R

a)     The deveopment in the nuclear liability issue is not a solution but a declaration of intent to resolve difficult issues.

3.

Hopes high for Make in India push in defence (Page 10)

a)     National

a)     With the govt focusing on Make in India and pushing for defence modernisation, expectations of a boost to domestic manufacturing in the defence sector in the coming general budget are high.

4.

Panel against trying juveniles as adults (Page 1)

a)     National

b)     Polity

a)     Panel has taken on board civil societys fears of treating 16-to-18-year-olds as adults in cases of horrible crimes and called for a review of this provision in the Juvenile Justice Bill 2014

5.

Modi govt shifted gears on climate change (Page 11)

a)     National

a)     While India has been an active participant and leader in global climate discussions for many years, Modi govt has shifted gears on climate change.

6.

In search of quality fiscal adjustment (Page 9)

a)     National

b)     Economy

a)     The economy would be better served if budgetary resources are directed at the govt taking higher direct stakes in PPP projects and increasing PSU bank recapitalisation.

7.

Indias own GPS soon (Page 11)

a)     S&T

a)     Scientists are eagerly awaiting the March 9 launch of IRNSS-1D, the fourth Indian regional navigation satellite.

8.

Mars rover clicks selfie (Page 20)

a)     S&T

b)     Geography

a)     NASAs Mars Curiosity rover has clicked a selfie which shows the robotic vehicle at the Mojave site on Mars where its drill collected the missions second taste of Mount Sharp.

9.

How aerosols affect tropical rainfall (Page 15)

a)     S&T

b)     Geography

a)     The inter-tropical convergence zone (ITCZ) has been shifting southwards in Central America since 1900.

10.

Efforts intensified to bring river Saraswati to surface (Page 7)

a)     National

b)     Geography

a)     Forest Department of Haryana govt is to bring the mythical Saraswati river to the surface by creating a stream at its point of origin at Saraswati Udgam Sthal in the Adi Badri area of Yamunanagar district.

11.

India home to 18 percent of worlds raptors (Page 20)

a)     Environment

b)     Geography

a)     The presence of raptors in the wild serves as a barometer for ecological health.

 

 

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.

Cabinet approves agreement on BRICS development bank (Page 11)

a)     I.R

a)     New Development Bank (NDB)

b)     Contingent Reserve Arrangement (CRA)

c)     BRICS group

d)     Economic cooperation

a)     The Union Cabinet gave approval for establishing the NDB and the BRICS CRA.

b)     Heads of the five nation BRICS group decided at their sixth summit in Fortaleza in July last year to create a development bank as well as a reserve fund to finance infrastructure projects and other sustainable development projects.

c)     Officials said that it will increase economic cooperation among the five nations.

d)     The $100 billion BRICS CRA would help countries deal with short-term liquidity pressures, provide mutual support and further strengthen financial stability.

e)     The agreement will enter into force and the Bank begin operations only after all member-countries deposit their instruments of ratification with Brazil.

f)     Sources said that signing of the agreement for establishment of NDB was expected to allow India to raise and obtain more resources for much-needed infrastructure development.

g)     India will hold the Presidency of the NDB for the first six years. The Bank will be based in Shanghai, Chinas financial hub.

2.

Strategic patience on nuclear liability (Page 8)

a)     I.R

a)     India – US relations

b)     Civil Nuclear Agreement

c)     Civil Liability for Nuclear Damage 2010

d)     Asia-Pacific and Indian Ocean Region Vision statement 

e)     Defense Technology and Trade Initiative (DTTI)

f)     Fukushima disaster

g)     Bhopal tragedy

a)     A month after the development understanding on the nuclear liability issue was announced by US President Obama and PM Modi, its practical value now looks decreased, while its symbolic importance as indicating the willingness of the two sides to start a new chapter in the relationship comes to light.

b)     According to American commentators, the liability law was a test of the new Indian govts strategic global outlook and willingness to fulfil its commitments.

c)     For Modi, the solution to the liability issue was necessary to revive the bilateral relationship in order to secure his primary objectives of First Develop India and increasing defence technology.

d)     The resolution of the liability issue was on the wish lists of both the US and India and it became the litmus test of the success of the visit. Apart from the business community of the US, the other suppliers (such as Russia and France) were also keen to have the issue resolved. 

e)     The liability issue has not been resolved and many loose ends remain even after the announcement of the details. But the announcement of the understanding created the atmospherics on the first day of the Obama visit, leading to the historic declaration on the Asia-Pacific and Indian Ocean Region Vision statement.

f)     The solution of working around the liability issue gave fresh confidence to both countries to move to strategic cooperation and defence co-designing and co-production under the DTTI.

g)     Many lawyers and analysts in both countries list deficiencies in the new arrangement by arguing that the law cannot be bypassed by administrative action. They argued that the intention of the liability law was to impose liability on the suppliers and letting the suppliers off the hook would be morally and legally unacceptable.

h)     What should not be forgotten in such analyses is that the liability law was introduced in Parliament by recalling the horror of the Bhopal tragedy but the real purpose was to block the implementation of the nuclear deal at least with regard to the US.

i)     It was also intended to make India neglect the promise it had made to the US govt that it would purchase nuclear material worth $10 billion. 

j)     Although the nuclear deal was hugely significant for bringing India into the nuclear mainstream, grey areas remain when it comes to its implementation.

k)     The most optimistic prediction is that a US nuclear reactor could be operationalised in India in about 10 years. Many economic, political and scientific developments would take place in the gap, including changes in leadership in both countries.

l)     Indias nuclear power policy may change before the new rules on liability come into force.

m)     The development in the nuclear liability issue is not a solution but a declaration of intent to resolve difficult issues. The final settlement may come at a different time under different leaderships.

n)     For the present, it is important to keep the dialogue going for the good of India and the US, and it may have value which goes beyond nuclear trade.

3.

Hopes high for Make in India push in defence (Page 10)

a)     National

a)     Budget

b)     Make in India

c)     Defence budget

d)     FDI

e)     Micro, Small and Medium Enterprises (MSME)

 

a)     With the NDA govt focusing on Make in India and pushing for defence modernisation, expectations of a boost to domestic manufacturing in the defence sector in the coming general budget are high.

b)     India has one of the largest defence budgets in the world but it also has the doubtful distinction of being the worlds largest arms importer.

c)     While both India and China had similar defence expenditure of around $10 billion in 1990, China has now quadrupled its expenditure with fast economic growth and planned modernisation. 

d)     Official said if we need to accelerate manufacturing in defence, we also need to increase the FDI limit in defence from 49 to 51 percent.

e)     To encourage domestic manufacturing, the industry (particularly MSME) is expecting incentives in terms of tax breaks and concessions to enable a level-playing field with the public sector.

4.

Panel against trying juveniles as adults (Page 1)

a)     National

b)     Polity

a)     The Juvenile Justice (Care and Protection of Children) Bill 2014

b)     Article 14 and 15(3)

c)     Children Courts

d)     Nirbhaya Act

a)     A Parliamentary Standing Committee has taken civil societys feelings of treating 16-to-18-year-olds as adults in cases of horrible crimes and called for a review of this provision in Juvenile Justice Bill 2014.

b)     A juvenile was among the accused and the brutality of his actions prepared the ground for proposing differential treatment to juveniles in 16-18 age group in case of horrible crimes.

c)     It recommended that all relevant clauses dealing with Childrens Courts and differential treatment of children between 16 and 18 years need to be reviewed as subjecting them to an adult judicial system goes against Articles 14 and 15(3) of the Constitution.

5.

Modi govt shifted gears on climate change (Page 11)

a)     National

a)     Climate change

b)     Indias solar energy goal

c)     UN Secretary General

a)     While India has been an active participant and leader in global climate discussions for many years, UN expert said that the Modi govt has shifted gears on climate change.

b)     He said the most obvious symbol of this was the new policy on renewable energy. Taking a goal of 100 GW in solar energy was not a small undertaking and the UN Secretary-General had asked all countries to be bold and this was a bold stroke.

c)     He said the 100-GW goal might sound like a lot but if India got its policy framework right there was more money out there.

d)     He pointed out that India has the power of the size of the market. If we get policy right and investments start to flow, it will shape global markets.

6.

In search of quality fiscal adjustment (Page 9)

a)     National

b)     Economy

a)     Budget

b)     Fiscal adjustment

c)     Capital spending

d)     Social spending

e)     PPP projects

f)     Public Sector Undertaking (PSU)

g)     FDI

h)     Portfolio investment

i)     GDP

a)     Ever since RBI Governor talked about it, high-quality fiscal adjustment has become popular for expectations surrounding the contents of this years budget. 

b)     This year, the deficit target will likely be met by using all plans despite a massive respite from the oil price collapse, large purpose increases in excise tax on petroleum products and an all-time-high equity market.

c)     More relevant for next years budget is what the govt makes of the need to make quality fiscal adjustments.

d)     Capital (infrastructure) spending is good because it delivers higher and better-quality economic growth.

e)     It is very hard to find any convincing evidence (either in India or elsewhere) that an injection of public investment increases medium-term growth.

f)     The only visible effect is that it raises growth in the year the spending occurs, which is exactly the effect that one would expect if the govt increased social spending or raised the wages of civil servants.

g)     The erstwhile Planning Commission (based on the pre-2008 global financial world) had divided the implementation between public and private sectors and how much was to be financed by domestic banks, the corporate bond market, FDI, portfolio inflows and Central and State budgets. 

h)     In turn, getting the implementation and funding going would require structural and regulatory reforms, including changes in environmental laws, land acquisition procedures, corporate bond markets, PSU banking operations, FDI and portfolio investment limits.

i)     So, to get capital spending right, the govt needs to revisit these issues, reformulate the medium-term spending and funding plan and implement the needed structural and regulatory reforms.

j)     Growth in the G-3 economies is expected to rise, oil prices are forecasted to remain very low and global financial conditions are expected to remain easy. Under such conditions, it is hard to justify any fiscal boost to growth.

k)     The another problem lies with combining subsidies with social protection. Subsidies hide the true cost of resources.

l)     The govt needs to eliminate subsidies while simultaneously expanding targeted and demand-driven social and unemployment protection programmes and untied income transfers, not out of the kindness of its heart but because such programmes are efficient.

m)     They provide fiscal policy the ability to respond quickly to growth booms and slowdowns without going through delays caused by the lags when govt machinery has to identify the need to change policy, decide on the best ways of doing so and then implement them.

n)     But economic growth has slowed in India (notwithstanding recent GDP revisions) and at the centre of this slowdown is languishing corporate investment.

o)     There are broadly four binding constraints holding back investment that have not changed much in the last few years. Indias environmental laws, land acquisition framework, the structure of PPP projects and the high indebtedness of infrastructure companies appear to be the constraints. 

p)     Instead of increasing infrastructure spending by a few percentage points, the economy would be much better served if budgetary resources were directed to easing the latter two constraints, either by the govts taking higher direct stakes in already-approved PPP projects or by increasing PSU bank recapitalisation.

7.

Indias own GPS soon (Page 11)

a)     S&T

a)     IRNSS (Indian Regional Navigation Satellite System)  

b)     IRNSS-1A

c)     IRNSS-1D

d)     PSLV

e)     ISRO

f)     GPS

a)     Scientists are eagerly awaiting the March 9 launch of IRNSS-1D, the fourth Indian regional navigation satellite. The IRNSS has been called Indias own GPS.

b)     This satellite will complete more than half of the progressive Indian GPS ring over the subcontinent and allow ISROs sat-nav team to prove its usefulness in location-based applications.

c)     IRNSS-1D is prepared to be put on the PSLV launcher on Feb 28 at the Satish Dhawan Space Centre in Sriharikota. The first one (IRNSS-1A) was launched in July 2013.

8.

Mars rover clicks selfie (Page 20)

a)     S&T

b)     Geography

a)     Curiosity

b)     Red Planet

c)     Mojave site

d)     Mount Sharp

e)     Pahrump Hills

a)     NASAs Mars Curiosity rover has clicked a selfie which shows the one-tonne robotic vehicle at the Mojave site on the Red Planet where its drill collected the missions second taste of Mount Sharp.

b)     A sweeping view of the Pahrump Hills outcrop on Mars (where the rover has been working for five months) surrounds the rover in Curiositys latest self-portrait. 

9.

How aerosols affect tropical rainfall (Page 15)

a)     S&T

b)     Geography

a)     Inter-tropical convergence zone (ITCZ)

b)     Tropical rainfall

c)     Aerosols

d)     Volcanic eruptions

a)     The ITCZ, a belt of precipitation (caused by northeast and southeast trade winds coming together) has been shifting southwards in Central America since 1900.

b)     According to the study, the reason for this shift is the cooling effect of aerosols that were produced in large quantities due to industrialisation.

c)     Cooling of the atmosphere results in less rainfall and dry conditions while warming leads to evaporation, convection and rainfall.

d)     The study found that since 1900 there has been a steady increase in rainfall in the southern tropics, in contrast to a steady decrease in the northern tropics.

e)     The authors point to increased aerosol concentrations in the northern tropics of Central America as the likely cause. There have been drying events even before 1900 but these coincided with northern hemisphere volcanic eruptions which sent aerosols into the atmosphere causing cooling and therefore dry conditions.

10.

Efforts intensified to bring river Saraswati to surface (Page 7)

a)     National

b)     Geography

a)     Saraswati river

b)     Ganga

c)     Yamuna

d)     Triveni

e)     Saraswati Udgam Sthal

f)     Shivalik hills

a)     Forest Dept of Haryana govt is to bring the mythical Saraswati river to the surface by creating a stream at its point of origin at Saraswati Udgam Sthal in the Adi Badri area of Yamunanagar district.

b)     The river is believed to have flowed all the way up to Allahabad where its confluence with the Ganga and Yamuna imparted the name of Triveni to the place.

c)     The Saraswati Udgam Sthal on the foothills of the Shivaliks was created in Adi Badri as it is believed that it was here that the Saraswati originated.

d)     According to sources, the place provides traces of the descent of the river from the Shivalik hills to the plains of Haryana.

11.

India home to 18 percent of worlds raptors (Page 20)

a)     Environment

b)     Geography

a)     Raptors

b)     Zoological Survey of India

c)     Indo-Malayan region

a)     A recent publication by the Zoological Survey of India says that India is home to 106 species of raptors, popularly known as birds of prey.

b)     The presence of raptors in the wild serves as a barometer for ecological health. They play an important ecological role by keeping the balance, especially by controlling the population of rodents and other small mammals.

c)     There are primarily two kinds of raptors - diurnal (day flying) and nocturnal (night flying). Out of the 333 species of diurnal birds of prey found in the world, 101 species can be found in the Indo-Malayan region.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NOTE: Read all the articles in S&T Page 15.

Branches

Ashok Nagar Branch
1-10-223/A, Sub-register office Line
Hyderabad
+91 9052 29 29 29, 9052 19 29 29

Madhapur Branch
Plot No.3, 2nd floor, Raghuma Towers
Hyderabad
+91 9052 492929

Delhi:
Old Rajendra Nagar

Send to mail

Request for call