UPSC IAS The Hindu Current Affairs 26 Feb 2018 highlights are:
- They allow for flexibility to continue political engagement and economic cooperation with their common adversary.
- They avoid entrapment of being dragged in to a partners dispute and potentially in to a conflict.
- At the same time, strategic partnership provides for regular political and military interactions for a collaborative approach to strategic policies.
India and Japan relations perfectly figure in to the above relationship.
- India will not get deep in to Japan disputes and the same is the case with Japan. A mutual cooperation exists on the wider issues where win win situation exists.
Important developments of India – Japan special strategic and global partnership are
- Japan is the only country India allowed to invest in infrastructure in North east.
- There is a joint infrastructure project development – Asia – Africa Growth corridor.
- Japan and India agreed to have annual summits and 2+ 2 format for defence and foreign ministers meeting.
- India is buying ShinMaywa Amphibious ships from Japan.
- Japan is investing in infrastructure development in Andaman and Nicobar Islands.
Nuclear deal in danger
Trump’s continuous tirade against Iran nuclear deal appears to be an end to Obama era pragmatism. Nuclear deal was successfully able to stop Iran form developing a nuclear weapon. Added to this, Iran never violated the deal. In these circumstances USA imposing sanctions against Iran, will set a dangerous precedent in international agreements. Iran nuclear deal being multilateral agreement, President shall end his rhetoric.
A big broom
Government effort to release names of shell companies, Name and shame its directors may not yield sufficient results to fight unaccounted money. In the process, there is a possibility of harassing genuine companies or directors.
The best way forward is to arrest systemic shortcomings.
Tax payer rights and obligations
Indian tax administration system shall move from an enforcement to a service based model. Intentions of reforms are good but they are reactive. DTAA, GAAR, transfer price mechanism, implementation of GST all have challenges.
improvement in taxpayers’ service, enhanced use of information and communication technology, exchange of information with other agencies, expansion of tax base, compliance management, etc. Need to be improved to make tax administration Service oriented.
Beyond social Media
In India Geographical indications (Registration and protection) act 1999 has provided for registration of Geographical indications. There is no effective monitoring mechanism for quality compliance of the same. Unlike this in the European regulation clearly provides for monitoring at multiple levels. India also shall have the same.
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26 February 2018
CPC clears the decks for third term of Xi
Two term restrictions on office for Chinese premier are being removed by the central committee of communist party of china. It can make Xi Jingping the most powerful and lifelong president.
Pan – India super takes last bow, fans heartburn
Sridevi, Indian film star passed away.
Statute bench to solve conflicts in supreme court.
Cents may enact law against fugitives.
New India needs women as equal partners, says Modi
States can relax highway liquor ban
Prime Minister Justin Trudeau visit to India is filled with many unwanted fist fights. Victim of this trip is bilateral relations between India and Canada.
India and Canada are plural, open, multicultural societies. so, Expansion of their relations is natural and large Indian diaspora in Canada could have been a glue for these relations. But, Trudeau’s liberal party support to separatist elements of Khalistan movement based in Canada, Ontario provincial legislature passing a resolution declaring a anti sikh riots of 1984 as a genocide did not go well with India. An assassin of Indian minister appearing in delegation made things much worse. Bilateral relations need an urgent repair.
Justin Trudeau’s discovery of India
India – canada share a warm relation for decades. But, Justin Trudeau’s liberal party’s attitude towards sikh separatists has created a wedge in their relations. Inspite of these, there are important take aways from this visit.
- Canada and India signed a framework cooperation agreement on countering terrorism and violent extremism. Both countries agreed to combat this phenomenon in all its forms and manifestations.
- Effective coopération on security, finance, Justice , law enforcement and operations.
- Prime Minister Trudeau reiterated his support for united India.
Regional and bilateral issues
- Dismantling of infrastructure of support to terrorism from across borders of Afghanistan.
- Maldivian Government shall end emergency and need to ensure early resumption of political process.
- On Myanmar, voluntary, safe and sustainable return of Rohingya refugees was stressed.
- Freedom of Navigation and overflight throughout Indo Pacific region.
- Prime Minister Trudeau extended strong support for India’s membership of Nuclear supplier’s group.
Canada investments are in rise in India. Civil nuclear cooperation agreement of India with Canada ensured a good , uninterrupted flow of Uranium. Clean and renewable energies are also expected to drive our economic engagement further.
Can Banking recover
- The one going discovery of financial frauds is a clear failure of regulation at multiple levels. Finance ministry, RBI, Internal Audit etc.
- The issue of crony capitalism plagues India. It is Cleary visible in distorted distribution of financial loans and resultant NPA’s. Corporate borrowers have the overwhelming share of 84% of bad loans. Finance is one of the many ways in which concessions and advantages are distributed.
- Privatisation of banks is not an answer for this ongoing financial crisis. It can make things worse for Indian banking. Privatisation can weaken regulation further, rise risk taking attitude and profit motive will drive away the national interest.
- Failure of the banks in private sector is much lager and much high in scale. Lehman brother is a standing example.
- The way forward is to adhere to sound banking rules and more transparency from public and private players.
Saving the National health service
Britons are very proud of their universal health care system provided by the National health services. It is an hallmark of humane, civilised health care system. It is suffering fro many challenges after Neo Liberal principles started affecting health care sector.
- Decreased flow of funds.
- Failure to invest in technologies to keep the functioning of system optimal.
- Human resources constraint due to regulated immigration.