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Daily News Analysis 30-08-2015

S.NO.

NEWS ITEM

SYLLUBUS

ESSENCE OF THE ARTICLE

1.         

 

Modi visit: US academics sound caution (Page 12)

a)     I.R

a)     PM Modis visit to the Silicon Valley next month to woo its movers and shakers to provide heft to his Digitial India initiative, has met with its first roadblock with several leading academics in American universities advising IT firms to exercise caution when engaging with the Indian Government.

2.

India, France close to deal on Rafale (Page 13)

a)     I.R

a)     Progress on the Rafale fighter deal is expected next week as French Defence Minister will visit India when both sides may sign an inter-governmental agreement for the 36 Rafale fighter jets which will lead to the eventual conclusion of the contract.

3.

Rice makes surprise visit to Pakistan on peace mission (Page 12)

a)     I.R

a)     Amid rising tensions and firing on the Line of Control, US National Security Adviser Susan Rice is in Islamabad for a day-long visit to discuss regional security issues.

4.

Introspect rather than celebrate victory: Bajpai (Page 12)

a)     I.R

a)     K.S. Bajpai (one of Indias most famous diplomats) says that India should introspect on the lessons of the war rather than celebrating the victory in the 1965 India-Pakistan war on its 50th anniversary.

5.

Turkey joins US in bombing IS (Page 14)

a)     International

a)     Turkish Foreign Ministry said that Turkish jets took part in US-led coalition air strikes against Islamic State in Syria for the first time.

6.

Jaitley: decision on land ordinance in 48 hours (Page 12)

a)     National

b)     Polity

a)     Finance Minister Arun Jaitley kept up suspense on whether the controversial land acquisition ordinance will be re-promulgated, saying a decision would be taken in the next 48 hours.

7.

Paradox of a dwindling world economy and a growing India (Page 15)

a)     Economy

a)    For Indian markets, as inflation has been climbing down, monsoon near normal and currency being one of the better currencies compared to Malaysian Ringgit, Indonesian Rupiah and South African Rand, the economy could withstand any financial onslaught.

8.

China gets tough to tame volatile markets (Page 15)

a)     Economy

a)     China has launched a crackdown to counter growing economic turbulence, and taken steps to infuse fresh liquidity to ease the countrys difficult transition from export-led growth to a consumption oriented new normal economy.

9.

ISRO to boost GSLV capability (Page 9)

a)     S&T

a)     Flush with the successful launch of the GSLV D6, the ISRO is geared up to add more heft to the three-stage rocket to enable it to lob satellites weighing up to 2.5 tonnes into geosynchronous orbit.

 

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.         

 

Modi visit: US academics sound caution (Page 12)

a)     I.R

a)     India – US relations

b)     Silicon Valley

c)     Digital India initiative

a)     PM Modis visit to the Silicon Valley next month to woo its movers and shakers to provide heft to his Digitial India initiative, has met with its first roadblock with several leading academics in American universities advising IT firms to exercise caution when engaging with the Indian Government.

b)   While Modi will be seeking to build on the Indian connect, the list of Silicon Valley giants is presented by the names of Sundar Pichai (CEO of Google) and Satya Nadella (who heads Microsoft), the academics have taken the opportunity to remind them of their responsibilities to the forms of e-governance proposed by Modis plans of digitisation.

c)     The academics write that it does not just disregard for safeguards about privacy of information but also carries with it the threat of surveillance that Indian citizens will be subjected to.

d)     On the other hand, the academics have drawn attention of the firms to the Modi Govts disregard for human rights and civil liberties, as well as the autonomy of educational and cultural institutions.

2.

India, France close to deal on Rafale (Page 13)

a)     I.R

a)     India – France relations

b)     Rafale deal

c)     Medium Multi-Role Combat Aircraft

 

a)     Progress on Rafale fighter deal is expected next week as French Defence Minister will visit India when both sides may sign an inter-governmental agreement for 36 Rafale fighter jets which will lead to eventual conclusion of the contract.

b)     Source said France has come to a compromise on the issue of offsets and a deal is now very close.

c)     India and France had constituted a high-powered committee to negotiate the terms and conditions for the procurement of 36 Rafale jets and recommend a draft agreement but the talks hit a road block over issue of offsets and changes in configuration sought by the Air Force.

d)     PM Modi (during his visit to France in April) announced direct purchase of 36 Rafale fighter aircraft from France through a govt-to-govt deal as quickly as possible in view of the Critical Operational Necessity of the Air Force sidestepping the original Medium Multi-Role Combat Aircraft contest.

3.

Rice makes surprise visit to Pakistan on peace mission (Page 12)

a)     I.R

a)     India – Pakistan relations

b)     Regional security issues

c)     Afghan government – Taliban peace talks

d)     Taliban

e)     Haqqani network

a)     Amid rising tensions and firing on the Line of Control, US National Security Adviser Susan Rice is in Islamabad for a day-long visit to discuss regional security issues.

b)     She is expected to discuss USs decision to hold military funding over Pakistans lack of action against the Haqqani network, the suspended talks between Taliban and Afghan govt and PM Nawaz Sharifs visit to the US in September.

4.

Introspect rather than celebrate victory: Bajpai (Page 12)

a)     I.R

a)     India – Pakistan relations

b)     Indo-Pak war 1965

c)     Kashmir issue

a)     K.S. Bajpai (one of Indias most famous diplomats) says that India should introspect on the lessons of the war rather than celebrating the victory in the 1965 India-Pakistan war on its 50th anniversary.

b)     His comments come as the govt kicked off celebrations of the victory in the war, planned for the first time on this scale. India officially celebrates Vijay Diwas on Dec 16 in honour of liberation of Bangladesh, and now celebrates Kargil Vijay Diwas as unequivocal successes for Army. However, the war in 1965 (which officially stretched from Sept 6 to 23), when UN forced a ceasefire, has never been seen as an outright victory for India for several reasons.

c)     He says the main failure in 1965 was one of intelligence when Pakistani troops first overran Indian posts in the Rann of Kutch in March 1965.

d)     He said the second failure was lack of strategic planning for the war that was fought along the International Border in Punjab, when India held and then gave up Lahore, and on the ceasefire line in J&K, which ended soon after Indian troops took the town of Hajipur.

e)  He said India must study the lessons of the 1965 war with a view to understanding the intent of Pakistani Army on Kashmir, by any means. Pakistans burning desire to somehow wrest Kashmir is something we have to learn to live with.

5.

Turkey joins US in bombing IS (Page 14)

a)     International

a)     Islamic State (IS)

b)     Syria and Iraq crisis

a)     Turkish Foreign Ministry said that Turkish jets took part in US-led coalition air strikes against Islamic State in Syria for the first time.

b)     The operation followed a technical agreement with the US on Aug 24 about Turkeys role in the campaign against the Sunni Islamists who control large areas of Syria and Iraq.

6.

Jaitley: decision on land ordinance in 48 hours (Page 12)

a)     National

b)     Polity

a)     Land Acquisition Act 2013

a)     Finance Minister Arun Jaitley kept up suspense on whether the controversial land acquisition ordinance will be re-promulgated, saying a decision would be taken in the next 48 hours.

b)     Govt issued a statutory order on Land Bill in lieu of re-promulgation of the ordinance. It will ensure compensation for land acquired under 13 Acts and will safeguard the rehabilitation of land owners.

c)     The Congress hit out at the govt for issuing a notification relating to the amendment of 13 laws in consonance with 2013 Land Acquisition Act, dubbing it legally untenable and against the advice of the Law ministry.

7.

Paradox of a dwindling world economy and a growing India (Page 15)

a)     Economy

a)     Indias economic growth

b)     Currency devaluation

c)     Global financial crisis

d)     Real Effective Exchange Rates (REER)

e)     Peoples Bank of China

f)     RBI

a)     There are 3 major crisis faced by the Indian financial markets since the opening up of the Indian Economy in 1992 - South-east asian currency crisis in 1997; global financial crisis in 2007 with fall of investment bank, Lehman Brothers: and the slump in the Chinese economy witnessed this week.

b)     While the intensity of the fall in financial markets was less in 1997 as the country was not exposed much to the global economy at that point of time, the impact was heavier in 2015.

c)    Expert said that the fears of China economy slump have made the market very nervous. For Indian markets, as inflation has been climbing down, monsoon near normal and currency being one of the better currencies compared to Malaysian Ringgit, Indonesian Rupiah and South African Rand, the economy could withstand any financial onslaught.

d)     In 1997, other economies, especially, the emerging market economies were over-heated with the foreign funds entering their real estate and stock markets. However, Indias premature stage of openness (of economy) helped the country from a wild attack of withdrawal of foreign funds as witnessed in other countries.

e)     As a regulator, the RBI has always been ensuring that short-term hot money flows are discouraged which has helped the country to withstand all financial turbulences from 1997.

f)     Devaluation of Yuan by Peoples Bank of China on Aug 11 and 12 led to major volatility in global markets and competitive devaluation in currencies by a few emerging markets.

8.

China gets tough to tame volatile markets (Page 15)

a)     Economy

a)     Chinas economy

b)     China Securities Regulatory Commission (CSRC)

a)     China has launched a crackdown to counter growing economic turbulence, and taken steps to infuse fresh liquidity to ease the countrys difficult transition from export-led growth to a consumption oriented new normal economy.

b)    Faced with a cycle of stock market routs, the CSRC (the body that supervises securities) has taken the lead to target illegal stock market operations, which Chinese authorities believe were decisive in causing the market blowouts.

c)   Notwithstanding the alleged malpractices in the markets, most economists agree that the Chinese economy (especially traditional manufacturing based on high energy consumption) is heading for a slowdown.

9.

ISRO to boost GSLV capability (Page 9)

a)     S&T

a)     GSLV D6

b)     GSAT -6

c)     Cryogenic Upper Stage (CUS)

d)     ISRO

a)     Flush with the successful launch of the GSLV D6, the ISRO is geared up to add more heft to the three-stage rocket to enable it to lob satellites weighing up to 2.5 tonnes into geosynchronous orbit.

b)     ISRO scientists are confident that the indigenous CUS could be tweaked further to enhance the performance of the GSLV rocket. CUS which failed in 2010 scored its first success with the launch of the GSLV D5 last year.

c)   The proposed modifications to CUS involve reducing mass of the vehicle and augmenting the thrust. GSLV D6 is capable of carrying satellites up to 2.2 tonnes. GSAT-6 communication satellite launched weighed 2117 kg.

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