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Daily News Analysis 01-07-2015

S.NO.

NEWS ITEM

SYLLUBUS

ESSENCE OF THE ARTICLE

1.         

 

Modi to focus on fighting IS growth in Central Asia (Pages 1 and 10)

a)     I.R

a)     Countering the spread of Islamic State terror will be a key part of PM Modis eight day visit to five central Asian states (Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan) next week, as those states gear up to battle the Islamic States rising influence.

2.

Bangladesh  to  open  mission  in  Assam (Page 10)

a)     I.R

a)     India has given clearance to Bangladesh to open its fifth diplomatic mission in India.

3.

Greece on the brink (Page 12)

a)     International

a)     Greece requested for a short-term bailout extension to avoid a midnight default as frantic efforts gathered pace to restore a deal that could keep Athens in the euro, with Germany warning that time had run out to extend vital credit lines.

4.

The woes of Greece (Page 8)

a)     International

a)     As financial markets worldwide collapsed over concerns that Greece would default on its debt to group comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its govt.

5.

Iran n-talks deadline now July 7 (Page 12)

a)     International

a)     As a midnight deadline approached in talks in Vienna with no agreement in sight, the US said that Iran and major powers effectively gave themselves until July 7 to reach a nuclear deal.

6.

Amendments  unacceptable,   says RSS  outfit (Page 10)

a)     National

b)     Polity

a)     Scrutinising the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill 2015, Joint Parliamentary Committee has sought a weeks extension for presenting its report to Parliament.

7.

Opening up legal services (Page 8)

a)     National

a)     The govts proposal to open up the legal services sector to foreign participation in a limited way may mark the end of Indias policy of barring international law firms from entering the country and of keeping domestic firms and lawyers insulated from the growing global market for trade in legal services.

8.

Digital India Week could provide investment boost (Page 11)

a)     National

a)     The Department of Electronics and IT (which is implementing govts ambitious Digital India programme) is expecting commitments of investments to the tune of Rs.2 lakh crore from domestic and foreign firms at the launch of Digital India Week by PM Modi.

9.

Core sector growth at 4.4 percent in May (Page 13)

a)     Economy

a)    The index of eight core industries rose 4.4 percent in May 2015 to 178.6 (compared to its level in May 2014), the fastest seen since Nov 2014, and follows two straight months of contraction.

10.

Green Climate Fund to become operational soon (Page 20)

a)     National

b)     Environment

a)     Official said the $100-billion Green Climate Fund will soon become operational in India and the process of accrediting organisations which can access the funds is going on.

 

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.         

 

Modi to focus on fighting IS growth in Central Asia (Pages 1 and 10)

a)     I.R

a)     Counter terrorism cooperation

b)     Islamic State (IS)

c)     BRICS summit

d)     SCO summit

e)     Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline project

f)     Caspian Sea

a)     Countering the spread of IS terror will be a key part of PM Modis eight day visit to five central Asian states (Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan) next week, as those states gear up to battle the ISs rising influence.

b)     He will also travel to the Russian city of Ufa to attend the BRICS and SCO summits affording him two opportunities to meet central Asian leaders, when he is expected to discuss counter-terrorism cooperation

c)     The countries in the Central Asian region, all of whom have sizeable Muslim majority populations have been particularly worried recently about the growing numbers of their youth attracted to the IS terror group.

d)    Approximately 3000-4000 of IS recruits operating in Syria and Iraq reportedly come from central Asian states, and have been involved in many of brutal acts carried out in IS territory.

e)     In June, the US State departments report on terrorism criticised many of the Central Asian countries for a crackdown on extremism, including Tajikistan for prohibiting children under 18 from attending mosques and accused Turkmenistans govt of viewing conservative Islam with suspicion and exercising strict controls over population.

f)     The discussions with the central Asian leaders are also significant for national security strategy, as the countries border or are neighbours with Afghanistan, where India is watching the post-pullout security situation closely.

g)     Officials said that there is no confirmation of a meeting between PM Modi and Pakistan PM Nawaz Sharif, though both will attend the SCO.  Both PMs will be in Russian city of Ufa from July 8-10 to attend SCO summit that includes Russia, China and central Asian states as members, while India, Pak and Iran have observer status.

h)     Modis visit to five Central Asian countries is also expected to give an impetus to various energy and mining projects including the TAPI natural gas pipeline.

i)     Turkmenistan ambassador said that developments related to the 1078- mile TAPI pipeline that will transport natural gas off the Caspian Sea resort of Avaza to India via Afghanistan and Pakistan will be announced shortly.

j)     India and Ashgabat are also expected to sign deals on the setting up of a fertilizer factory in Turkmenistan, on urea and potash supply and transport and energy sectors.

k)     Modis visit to Kazakhstan is expected to give a fillip to the civil nuclear deal signed in 2009, to proposed joint mining of uranium in Kazakhstan and to the Caspian Sea oil block drilling agreement, that India has 25 percent stake in. India and Kazakhstan could also be finalising agreements on mining, mineral and oil and gas projects which include iron ore, coal and potash exploration.

l)     Tajikistan (where India has an air base) is looking to firm up ties with India on security, trade and investment during the PMs visit.

2.

Bangladesh  to  open  mission  in  Assam (Page 10)

a)     I.R

a)     India – Bangladesh relations

b)     Diplomatic missions

c)     Land Boundary Agreement (LBA)

d)     Teesta water sharing deal

 

a)     India has given clearance to Bangladesh to open its fifth diplomatic mission in India. The new Deputy High Commission will be opened in Guwahati, the capital of Assam.

b)     The development was in line with the joint declaration issued during Indian PM Modis recent visit to Bangladesh when both the countries expressed the wish to open more missions.

c)     The new mission in Guwahati will have consular jurisdiction over Assam, Meghalaya, Mizoram, Manipur, Nagaland and Arunachal Pradesh. Bangladesh has missions already in Delhi, Kolkata, Mumbai and Agartala.

3.

Greece on the brink (Page 12)

a)     International

a)     Greece debt crisis

b)     European Union

c)     International Monetary Policy (IMF)

a)     Greece requested for a short-term bailout extension to avoid a midnight default as frantic efforts gathered pace to restore a deal that could keep Athens in euro, with Germany warning that time had run out to extend vital credit lines.

 

b)     European Commission President appealed to Athens to accept the deal proposed by international creditors last week while holding out hopes that some extra twists could still be possible.

c)     Leftist Greek PM Alexis Tsipras (who has called a referendum to vote on the bailout terms) responded with a counter-proposal, requesting a two-year deal covering funding support and debt restructuring, an issue the lenders have so far been reluctant to tackle.

d)    If no agreement is reached, Greece will default on a loan to the IMF, setting it potentially on a path out of the euro with unforeseeable consequences for both the EUs grand currency project and the global economy.

4.

The woes of Greece (Page 8)

a)     International

a)     Greece debt crisis

b)     European Union (EU)

c)     European Commission

d)     European Central Bank (ECB)

e)     International Monetary Fund (IMF)

a)     As financial markets worldwide collapsed over concerns that Greece would default on its debt to group comprising the European Commission, the ECB and the IMF, the people of Greece were being presented with a Hobsons choice by its govt led by the leftist party platform, Syriza.

b)     The Syriza govt sought to extend the deadline for payments in order to allow it to put the conditionalities of the group for a bailout extension to a referendum vote.

c)     PM Alexis Tsipras has denied that this referendum (scheduled for July 5) is on whether or not to continue within eurozone; he says it is only on the acceptance of groups demands. But with the group unrelenting on the June 30 deadline for repayment of debts to the IMF and Greece being in no position to pay, the referendum could more or less be on remaining in eurozone. This presents a difficult choice for the people of Greece.

d)     After all, the Syriza was voted to power in Jan 2015 precisely on promise of halting the programme of severity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment.

e)     Over the past five months, Syriza representatives have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to encourage economy. Yet, the groups response has been to delay the proposals and instead push Greece to further the severe measures it has continued following the first major bailout in 2010 and another in 2012.

f)     The groups reasoning is simple - tolerating a Greek default would amount to sending signals to other creditor-nations about similar leniency. Instead, the group has only offered 5month extension of Greeces bailout programme with fresh funds but with continuing severe conditions.

g)   With Greece already having to impose capital controls and bank holidays to avoid further capital flight (measures that were supposed to be taken in the event of an exit from EU), it begs the question whether the Grexit is inevitable.

5.

Iran n-talks deadline now July 7 (Page 12)

a)     International

a)      Iran – P5+1 nuclear deal

b)     Irans nuclear programme

c)     P5+1 group

a)     As a midnight deadline approached in talks in Vienna with no agreement in sight, the US said that Iran and the P5+1 have decided to extend the measures under a 2013 interim deal until July 7 to allow more time for negotiations to reach a long-term solution.

b)     Official added that this did not necessarily mean they will go until the 7th or end on 7th.

6.

Amendments  unacceptable,   says RSS outfit (Page 10)

a)     National

b)     Polity

a)     Land Acquisition, Rehabilitation and Resettlement (LARR) Act 2013

b)     Right to Fair Compensation and Transparency

c)     Social Impact Assessment (SIA)

d)     Joint Parliamentary Committee (JPC)

e)     Swadeshi Jagaran Manch (SJM)

a)     Scrutinising the Right to Fair Compensation and Transparency in LARR Bill 2015, the JPC has sought a weeks extension for presenting its report to Parliament.

b)     In a major embarrassment to the NDA govt, the SJM (RSS outfit) observed that the govt showed undue hurry in replacing 2013 Land Act with LARR (Amendment) Ordinance 2014 and described some of official amendments as problems in non-acquisition of land were not coming in the way of industrialisation.

c)     JPCs chairman sought a land use policy that sets a judicious ceiling on land use for agriculture, forests and industry and said farmland should not be acquired for any other purpose in interest of food security for country. Acquisition of multi-crop land should be avoided.

d)     Asserting that SIA of big projects on society, environment and economy was a well-established international practice, the SJM said violation of the norm as well as not seeking consent was against natural justice for those affected by proposed land acquisition.

7.

Opening up legal services (Page 8)

a)     National

a)     Indias policy of barring international law firms

b)     Bar Council of India

c)     Society of Indian Law Firms (SILF)  

d)     General Agreement on Trade in Services

e)     WTO

f)     Advocates Act

g)     Supreme Court

 

a)     The govts proposal to open up the legal services sector to foreign participation in a limited way may mark the end of Indias policy of barring international law firms from entering the country and of keeping domestic firms and lawyers insulated from the growing global market for trade in legal services.

b)     The govt says it has both the Bar Council of India and the Society of Indian Law Firms on board. The proposed entry of foreign firms will be limited to aspects other than litigation and to international commercial arbitration.

c)     The presence of overseas lawyers in forums of litigation is of course ruled out. It is unlikely that foreign firms will be interested in litigation work, which is by and large organised and regulated on national lines. Unless there is reciprocity with regard to recognition of legal qualifications among member-countries, it will not be possible for visiting legal professionals to overcome basic eligibility norms.

d)     Ever since the General Agreement on Trade in Services was adopted by member-countries of WTO, the potential for legal professionals to offer services outside their national jurisdiction has expanded exponentially.

e)     At the same time, there has been worry in legal profession about the possible adverse implications of the entry of foreign firms which are better organised and have better resources to corner the legal services market. Some went to court and obtained favourable orders barring the entry of overseas players. The courts have so far said foreign firms cannot practise in India without sticked to the Advocates Act. 

f)     However, the Madras High Court has allowed overseas professionals to fly in to offer advice to clients on international legal issues, and participate in international commercial arbitration.

g)     The matter is now in the Supreme Court, but if the govt can carry the legal profession along on its proposals, India will be in a position to benefit from opening up the sector.

8.

Digital India Week could provide investment boost (Page 11)

a)     National

a)     Digital India programme

b)     Digital Locker

c)     e-education

d)     e-health

a)     The Department of Electronics and IT (which is implementing govts ambitious Digital India programme) is expecting commitments of investments to the tune of Rs.2 lakh crore from domestic and foreign firms at the launch of Digital India Week.

b)     PM Modi (while sharing the road map for Digital India) will unveil e-governance schemes such as Digital Locker, e-education and e-health.

9.

Core sector growth at 4.4 percent in May (Page 13)

a)     Economy

a)     Core sector growth

b)     Index of Industrial Production

c)     Economic growth

d)     GDP

a)    The index of eight core industries rose 4.4 percent in May 2015 to 178.6 (compared to its level in May 2014), the fastest seen since Nov 2014 and follows two straight months of contraction.

b)     The eight core industries (coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity) account for a combined weight of 37.9 percent in overall IIP.

c)     These signs of revival in the core industries of economy imply that the performance of IIP in April 2015 (accelerating to 4.1 percent from 2.5 percent in March) was not a blip and that economy really is showing signs of recovery, as regularly asserted by Finance Minister.

10.

Green Climate Fund to become operational soon (Page 20)

a)     National

b)     Environment

a)     Green Climate Fund (GCF)

b)     Climate change

c)     Greenhouse gas emissions

d)     UNFCCC

e)     NABARD

a)     Official said the $100-billion Green Climate Fund will soon become operational in India and the process of accrediting organisations which can access the funds is going on. Some international agencies has already accessed funds to work towards climate change mitigation and adaptation,

b)     He clarified that the fund would be made available to organisations such as NABARD that made development investment decisions and NGOs might not qualify.

c)   He said that while the world GDP is close to 88 trillion dollars as of 2013, the 100 billion dollars committed to fight climate change was only a small amount as of now.

d)     Additional Economic Adviser in the Union Finance Ministry said that during the UNFCCC in Bonn in May, the govt had sought clarity with regards to guiding principles, resources and institutional arrangements in place to operationalise the fund.

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