Current Affairs > Daily Current affairs

Back
Daily News Analysis 08-06-2015

S.NO.

NEWS ITEM

SYLLUBUS

ESSENCE OF THE ARTICLE

1.         

 

Teesta deal in joint statement (Page 10)

a)     I.R

a)     Reaffirming Indias commitment to settle the issue as soon as possible, one of the key contentious issues between India and Bangladesh (the sharing of Teesta river waters) finally made it to the joint statement.

2.

Modi, Hasina exchange 1971 memories (Page 10)

a)     I.R

a)     Besides restoring and opening vital connectivity for more productive relations, PM Modis trip to Dhaka (seen as historic) brought back memories of the 1971 war of liberation.

3.

LAC differences may stall India-China CBMs (Pages 1 and 10)

a)     I.R

a)     The China-India track on a possible new round of confidence-building measures is expected to see a contest between Indias insistence on clarification of LAC and Chinas focus on the elaboration of a code of conduct among border troops.

4.

G7 summit opens with tough line on Ukraine (Page 12)

a)     International

a)     The leaders of Germany and the US hammered home a tough line on Russia at the start of a G7 summit dominated by crises in Ukraine and Greece.

5.

Western callousness in Syria (Page 9)

a)     International

a)      It is mystifying that a Western-led coalition should now be seen as the fire-fighters of the Syrian conflict, when it has actually kept the fires burning with diplomatic and military assistance.

6.

Two States, one challenge (Page 8)

a)     National

a)     A year after their formation, the States of Telangana and Andhra Pradesh continue to struggle with resource-sharing issues with respect to power, water and other assets.

7.

Black money: pinning the shadow down (Page 9)

a)     National

a)     The steps taken so far (includes the Black Money Bill) to bring back an estimated $1.5 trillion stored abroad are completely ineffective. There are better and stronger solutions available.

8.

Banking on the Rupay (Page 13)

a)     Economy

a)     Rupay is Indias own card payment scheme. The scheme was conceived by National Payment Corporation of India, an initiative of the RBI and an umbrella institution for all retail payment systems in the country.

9.

Chennai temple yields more history (Page 7)

a)     National

b)     History

a)     It seems that the famous Sri Parthasarathy Swamy temple at Triplicane in Chennai never ceases to amaze history buffs. The latest to excite their interest is the discovery of an inscription of Chola emperor Rajendra I on the northwest corner of the sanctum sanctorum.

 

 

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.         

 

Teesta deal in joint statement (Page 10)

a)     I.R

a)     India – Bangladesh relations

b)     Teesta water sharing deal

c)     Tipaimukh Hydro-Electric Power Project

d)     Feni river

e)     Barak river

a)     Reaffirming Indias commitment to settle the issue as soon as possible, one of the key contentious issues between India and Bangladesh (sharing of Teesta river waters) finally made it to the joint statement.

b)    According to the statement, PM Modi conveyed that deliberations are under way involving all stakeholders with regard to conclusion of the Interim Agreements on at least two rivers, Teesta and Feni.

c)     However, India addressed another long-standing demand of its neighbour - to stop the construction of the Tipaimukh Hydro-Electric Power Project on the Barak river on the eastern edge of Bangladesh.

d)     PM Modi also conveyed that the Tipaimukh project is not likely to be taken forward in its present form due to statutory requirements on the Indian side, and that India would not take any unilateral decision that may adversely impact Bangladesh.

e)     The two countries signed and exchanged 22 instruments, including 4 agreements, 3 protocols, 14 MoUs and one letter of consent on a range of issues.

2.

Modi, Hasina exchange 1971 memories (Page 10)

a)     I.R

a)     India – Bangladesh relations

b)     1971 war of liberation

c)     INS Vikrant

a)     Besides restoring and opening vital connectivity for more productive relations, PM Modis trip to Dhaka brought back memories of the 1971 war of liberation.

b)   When the people of the then East Pakistan were fighting the Pakistan Army, India stood with its eastern neighbour in its search for Independence.

c)     INS Vikrant played the most crucial part in shortening the war, cutting off the reinforcements sent from the then West Pakistan to the East.

d)     Modi received the Bangladesh Liberation War Award on behalf of the former PM Atal Bihari Vajpayee.

3.

LAC differences may stall India-China CBMs (Pages 1 and 10)

a)     I.R

a)     India – China relations

b)     Border disputes

c)     Line of Actual Control (LAC)

d)     Confidence-Building Measures (CBMs)

e)     1996 CBM accord

 

a)     The China-India track on a possible new round of CBMs is expected to see a contest between Indias insistence on clarification of LAC and Chinas focus on the elaboration of a code of conduct among border troops.

b)     Diplomatic sources told that the resumption of the clarification of LAC (which was publicly raised by PM Modi during his China visit last month) is one of core objectives of the CBM process. It was formally documented in the peace and calm accord that was signed in 1993 in the backdrop of friction.

c)   The Special Representatives of India and China are engaged in a lengthy process of negotiations to define the final frontiers between two countries. Indias reassertion on the need to clarify the LAC follows observations that India and China had tried to clarify some years ago but encountered some difficulties which led to even complex situation. On contrary, Chinese official seemed to favour the expansion of code of conduct along the borders.

d)     But countering this observation, the sources said that the code of conduct has already been fully elaborated in the CBM protocol along the LAC that was signed by the two sides on April 11 2005.

e)     For instance the protocol limits the size and orientation of military exercises along LAC, details the protocol that needs to be followed in case of an alleged air intrusion, including a flag meeting within 48 hours of the incident, and prescribes a code of conduct in case of an eventuality of eyeball to eyeball military contact in LAC area.

f)     The sources said that the LAC clarification process had fully commenced following the 1996 CBM accord where there was an agreement to exchange maps indicating the respective perceptions of the two sides regarding the entire alignment of the LAC as soon as possible.

4.

G7 summit opens with tough line on Ukraine (Page 12)

a)     International

a)     G7 summit

b)     Ukraine crisis

c)     Greek crisis

a)     The leaders of Germany and the US hammered home a tough line on Russia at the start of a G7 summit dominated by crises in Ukraine and Greece.

b)    German Chancellor Merkel and US President Obama issued a stark warning to President Putin over what Obama said was his aggression in Ukraine.

c)    The Greek crisis threatened to overshadow the G7 summit, which Merkel has hoped to focus on other pressing global issues from climate change and Islamist extremism to womens rights, public health initiatives and the fight against poverty.

5.

Western callousness in Syria (Page 9)

a)     International

a)     Syria and Iraq crisis

b)     Islamic State (Daesh)

c)     Al-Qaeda

d)     Al-Qaeda in Iraq (AQI)

a)     Experts said some reports overstated the role of extremists notably al-Qaeda affiliates and the newly emboldened Islamic State (Daesh). Deadlock was the voice of Syrian civil war, and Daesh had not yet burst into public consciousness (that would happen when its forces seized Mosul, Iraq, in June 2014). These experts felt that the Syrian rebels would soon deliver knockout blow against the govt of Bashar al-Assad.

b)     The policy implication of such a view is that the West (led by the US) continued to provide diplomatic support to the Syrian opposition and to funnel arms and logistical support for the various fighters. Pipelines of money and arms to these rebels from the Gulf Arabs, Turkey and the West enabled them to persist in a war that seemed on the surface to be headed more towards a bloodbath than a clear result.

c)     Massacres on all sides shattered the social landscape of Syria. Peace exercises by the UN had few takers. War remained on the agenda and peace was regarded as naive.

d)     A US Department of Defense (DoD) intelligence report said that the Salafist (the Muslim Brotherhood) and AQI are the major forces driving the insurgency in Syria. The Muslim Brotherhood (largely weakened in Syria by the crackdown in 1982) was the least of these. AQI trained in Syria in the mid-2000s and then infiltrated into Iraq.

e)     The most surprising assessment in the report is its recognition that AQI has roots on both sides of the Syria-Iraq border. It says that their sectarian affiliation unites the two sides when events happen in the region and porousness of Syria-Iraq border will facilitate flow of materiel and recruits.

f)     Iraq had already become the sanctuary and recruiting ground for AQIs actions in Syria (under the name of Jabhat al-Nusra) and Syrian disorder became a catalyst for encouraged actions inside Iraq. If the situation resolves, there is the possibility of establishing a declared or undeclared Salafist principality in eastern Syria.

g)     The DoD even forecast that such a situation would create the ideal atmosphere for AQI to return to its old pockets in Mosul and Ramadi. This is what happened in 2014 (Mosul) and 2015 (Ramadi). Daesh could also declare an IS through its union with other terrorist organisations in Iraq and Syria.

h)     The callousness of US policy is that despite such an assessment US govt continued to support the rebels, who had now largely been recruited into extremist groups. Former US Ambassador to Syria Robert Ford has now come to the conclusion that the moderate opposition should negotiate a national political deal to end the conflict without Assads departure as a pre-condition.

i)     The absence of such negotiating space was precisely what blocked the political dialogue in the early years of the war. It now appears as if the US had intelligence that their public narrative was false and that a more modest approach toward Syrias future could have prevented both the large-scale suffering and the expansion of Daesh.

j)     With their diplomatic and military assistance, the West, the Gulf Arabs and Turkey kept the fires of the conflict burning, creating the conditions for the rise of the extremists. That this coalition should now be seen as the fire-fighters of the conflict is mystifying.

6.

Two States, one challenge (Page 8)

a)     National

a)      Formation of Telangana State

b)     Andhra Pradesh State

c)     Hyderabad

d)     Amaravathi

e)     Telugu Desam Party (TDP)

f)     Telangana Rashtra Samiti (TRS)

a)     A year after their formation, the States of Telangana and AP continue to struggle with resource-sharing issues with respect to power, water and other assets. AP without revenue flow from Hyderabad is in poor financial straits as the special status promised by the previous UPA govt has proved to be elusive.

b)     As an ally of the BJP at the Centre, the TDP that rules AP is hoping for a special financial grant. But that appears to be a distant dream today as too many States are in queue seeking such packages. As in case of similar disputes among other States, water-sharing remains a contentious issue.

c)     While the people at large are reconciled to the post-bifurcation reality, it is the political grandstanding of two govts that is really coming in way of harmonious coexistence between the two. For instance, Telangana govt in April went ahead and imposed its own motor vehicle tax, unmindful of concerns on the other side.

d)     Every single issue (be it the division of the secretariat premises, public sector institutions, State cadre officers or the High Court) has become a bone of contention.

e)     AP has to find ways to mobilise resources to fund its ambitious infrastructure projects. Besides securing the promised quantum of funds from Centre, CM Chandrababu Naidu has to explore possibility of accessing funds from private and external sources to realise plans for the development of a capital region and to build airports, seaports and smart cities.

f)     Hyderabad being retained as an integral part of Telangana has made all the difference for both States in terms of revenues, as it accounts for 99 percent of the total IT and ITeS exports from the two States. The stark reality is reflected in the 2014-15 and 2015-16 budgets of the two govts.

g)     However, the challenge for the TRS govt led by KCR is to ensure progress all across the State, particularly in the districts of Warangal, Adilabad, Karimnagar and Nizamabad, which have historically seen hardly any progress on the manufacturing front.

h)     The hinterlands mainstay is in mining, poultry, food processing, dairy and farming. The way forward is to put behind the distrust and bitterness that preceded the bifurcation process, and get down to the real issues.

7.

Black money: pinning the shadow down (Page 9)

a)     National

a)     Black Money Bill

b)     Special Investigation Team (SIT)

c)     Central Bureau of Investigation (CBI)

d)     Enforcement Directorate (ED)

e)     Criminal Procedure Code (CPC)

f)     Switzerlands Law On International Judicial Assistance in Criminal Matters

g)     Resolution of UN Convention against Corruption

a)     Recently, the Chief Justice of Supreme Court allowed the author (Subramanian Swamy) to lead arguments on effective steps to be taken to bring back black money or undisclosed illegally held funds estimated at Rs.120 lakh crore, stored secretly abroad by Indians in numbered bank accounts. This amount is about 60 times the annual revenue from income tax in the Union Budget.

b)     Despite Modi govt setting up a SIT under two former Supreme Court judges, there is no sign yet of black money having being brought back.

c)     The black money issue should not be misunderstood as one of only avoiding taxes. It is a major systemic crime of denying the nations financial system the proceeds of wealth. Such denial should actually be declared as treason, where opportunities to share the wealth for the benefit of the poor are wilfully denied.

d)     Black money is a cancer in our economic system, not yet terminal or life-threatening. But we do not have much time left before the economic system starts to undo and twist. There are 3 dimensions to this cancer. First, there is a distortion of investment priorities because acquiring luxuries with black money favours high-level investment in the luxury goods industries - there is a higher rate of return on investment.

e)     Second, forward trading in agricultural commodities by cash-rich speculators causes fluctuations in prices due to hoarding of agricultural products. Third, generating black money with impunity means that the quality is sub-optimised in public sector infrastructural projects by tender manipulation, under and over-invoicing in trade, and so on.

f)     The so-called Black Money Bill of 2015 (passed recently by Parliament) is inadequate to secure the return of an estimated $1.5 trillion deposited illegally abroad by Indian citizens in about 90 countries.

g)     There are four ways by which the names and accounts that are illegally held abroad can be ascertained, and the money stored away brought back.

h)     First, the CBI/ED can register a FIR on receipt of information of illegal accounts through Intelligence sources, and then obtain a Letter of Request u/s 166A of the CPC (1973) from a designated court. Then, the agency can use Switzerlands Law On International Judicial Assistance in Criminal Matters and seek Swiss cooperation to seize the account.

i)     The second way is the German or French method of obtaining records of a particular bank. Monetary inducements are used in these two countries to will senior bank officials. The third way (US method) was used in Washington D.C. The fourth is method of invoking Resolution of UN Convention against Corruption, adopted by UN General Assembly in 2005 and ratified by India in 2011.

j)     This requires Parliament to pass a law. As a first step, it requires the President to issue an Ordinance to nationalise all the bank accounts of Indian citizens in the 90-odd nations where black money is stored. Thereafter, bilateral discussions with each of these countries can take place to get hold of the accounts.

k)     These are the effective ways of obtaining the estimated $1.50 trillion stored abroad. The measures being taken presently by the government are completely ineffective in tackling this cancer and are only of diversionary value.

8.

Banking on the Rupay (Page 13)

a)     Economy

a)     RuPay scheme

b)     National Payment Corporation of India (NPCI)

c)     Jan Dhan Yojna

d)     Direct Benefits Transfer (DBT) scheme

e)     Visa card

f)     Master Card

a)     Rupay is Indias own card payment scheme. It was conceived by NPCI, an initiative of the RBI and an umbrella institution for all retail payment systems in the country. RuPay is a play of the words rupee and payment. It was originally called IndiaPay.

b)     RBI wants to back a domestic card system with a few goals. One, provide affordable electronic transactions for local banks. Two, promote financial inclusion. The idea of domestic card is to break the dominance of international majors such as Visa and MasterCard.

c)  Banks pay higher transaction fee in case of foreign cards such as Visa and MasterCard. Since the transaction processing of RuPay happens domestically, it leads to lower cost for clearing and settlement of transactions.

d)    The recent Jan Dhan Yojna has given RuPay a big boost as every account-holder is getting the RuPay card. The DBT scheme has also helped in making the RuPay cards active.

9.

Chennai temple yields more history (Page 7)

a)     National

b)     History

a)     Sri Parthasarathy Swamy temple  

b)     Chola emperor Rajendra I  

c)     Pallavas

d)     Cholas

e)     Pandyas

f)     Vijayanagara kings

g)     Vanavasi (Banavasi) region

h)     Kalaburgi region

a)     It seems that the famous Sri Parthasarathy Swamy temple at Triplicane in Chennai never ceases to amaze history buffs. The latest to excite their interest is the discovery of an inscription of Chola emperor Rajendra I on northwest corner of the sanctum sanctorum.

b)     The temple is replete with inscriptions of Pallavas (who are believed to have built it around AD 600), the Cholas, Pandyas and the Vijayanagara kings.

c)   The fragmentary inscription offers a prasasthi or eulogy of Rajendra I (speaking of the fame of the emperor), who ruled between AD 1012 and 1044 and his conquests of many lands including in Vanavasi (Banavasi) and the present-day Kalaburgi region (both in Karnataka) and so on.

d)     Sources said the robust physical features of the horses in the work show the painting belongs to the late Pallava period.

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