UPSC IAS The Hindu Current Affairs 25th May 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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25 May 2018
Tamil nadu CM says sterlite will be shut, power supply cut
After firing by police and death of 12 people, Tamil Nadu Government decided to shut down starlit plant in thoothukudi.
Trump calls off summit with Kim
President Trump called off his summit with Kim Jong un as there are no assurances from North Korea on denuclearisation. Stated Libya Model for denuclearisation by USA administration did not send right signals for North Korea.
The transatlantic variants
India must be careful in picking up best practices from elsewhere in drafting a data protection law.
The challenge India can foresee are
- A strong protection law is seen as a hurdle for innovation. It is argued open data fuels innovation. As technology advances, commercialisation of technology can only happen if privacy is ingrained.
- In the cover of Privacy Governments can become opaque. Government can find a valid reason to reject information. here, differentiation between personal and public information makes a great difference.
- Privacy increases compliance costs to companies. It need to be taxed on users as like data protection law. This is also a flawed argument as privacy is right on which companies need to build their future.
The Russian ride
Prime Minister Modi informal summit in Sochi is remarkable for few take aways
- India is dependant on Russia to maintain its military hardware. USA countering America’s adversaries through sanctions act (CAASA) act can keep limitations on its importing.
- Russia did military exercises with Pakistan and sold helicopters and is deeply involved in talks with Afghan Taliban. India aims to secure that its national interests are not damaged.
- American diplomacy is in doldrums and is suffering from inconsistency. India can no longer rely on USA which is fast receding from global diplomatic table.
So, India is trying to rebalance its relations in fast changing geopolitics.
Cabinet has approved to bring home buyers on par with financial creditors in Bankruptcy resolution process. It will bridge the gaps between RERA( Real estate regulation act) and Insolvency and Bankruptcy) code.
Divided by the Brexit debate
Brexit today has opened up many challenges to UK on trade, Immigration front. Principal party – Labour failed to give an unambiguous position to people. There are also demands for another referendum are growing.
Hasina can t go empty handed
India and Bangladesh has to conclude Teesta river water agreement as early as possible to strengthen their relations. Added to this, displaced Rohingyas and their radicalisation can be a new challenge to the region.