Current Affairs > Daily Current affairs

My notes of RB 25-08-2015


Wednesday, August 26, 2015

8:06 PM

  1. The point central to RCEP and TTP is ASEAN. They plan to put in place one single regional agreement in the place of multiple one to one FTA. As Doha round of talks leading no where, regional blocs are gaining their prominence. These trade deals are seen as a means to insulate economies from market uncertainities.
  2. The RCEP will provide a boost Indias Act East policy.
  3. RCEP is seena s a Chinas answer USA s TPP under it s Asia pivot policy.
  4. Regional trading blocs are also need to be seen from both geo strategic point of view
  5. RCEP offers for differential tariffs to various countries based on their levels of development. On the other hand, the norms under TPP are expected to be more stringent. They also include environmental laws, IPR, labour laws along with economic issues. At the existing state, it may damage Indias interests.(WTO plus standards)
  6. The economic survey suggested for India joining mega regional trade pact - TPP. According to it, India has to choose between measured integration that keeps with Indias reform or an ambitious one with developing trade capabilities.

Facts to substantiate arguments

  1. TPP has 40% global GDP and fourth of international trade
  2. RCEP accounts for a third of glbal GDP and 27.4% and 23 % of worlds goods and services trade. Indias trade with RCEP countries as a percentage of its total trade has increased substantially in the last decade.
  3. Indias experience FTA is not very positive due to its weak trade capabilities.
  4. Can India see to TPP to promote its services, RCEP to strengthen its manufacturing.
  5. RCEP can improvise Indias share in regional production networks and global value chain
  6. Servicification of manufacturing sector is increasing as manufacturing is becoming sophisticated . India can also gain from this.


  1. In both TPP and RCEP, the majr disagreement is on IPR protection in cyber space.
  2. The TPP is criticised as  benefitting the corporates rather than the poor.
  3. The TPP can any way damage the interests of India, with reduction in tariff barriers and production costs. India unless improves its trade compeititiveness, it may loose.

Party Funding shall be made public


  1. The CIC declared all national and regional parties are the public authorities under the Right to Information Act , 2005.
  2. So, the political parties has to disclose complete details about their income as well as expenditure to the public.
  3. Schedule 10 of the constitution provides for political parties a core role in governance and control over their MPs and MLAs.
  4. Voter also has fundamental right to know the information and details about the political parties to make an informed choice.
  5. According to Section 29 A of RPA act , 1951 , all the political parties shall affirm their allegiance to the constitution of India. As RTI is the part of freedom of speech, political parties shall furnish information under RTI act.



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