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Weekly Current
Affairs Update
For
IAS Exam
6th December 2015 TO 12th December 2015
Page 1
NATIONAL EVENTS
US launch orders in PSLV kitty
Two more US satellite launch contracts have come the way of ISROs PSLV rocket, this time from
commercial weather satellite company PlanetiQ.
PlanetiQ, the Maryland based commercial weather satellites operator, recently signed a deal with
Antrix Corporation, ISROs marketing arm, for launching its first two weather satellites. Its final fleet
totally will have 12 to 18 satellites.
The two spacecraft, just 10 kg each and carrying a special sensor to glean weather data globally, are
planned to be put in space in the last quarter of 2016 as secondary passengers of a PSLV
Until about a year ago, US satellite operators could not conceive of launching from India because
of a longstanding US policy bar. In recent years, established US launch companies have moved on
to lifting far heavier satellites [ten tonnes and beyond], leaving a demand for launchers that can put
smaller satellites in space.
In September, US operator Spire Global became the PSLVs first US customer by getting four 4-kgeach Lemur satellites from Sriharikota. Antrix, which has won around 55 foreign launch orders to
date, a bulk of them small ones
After being pulled up by the Delhi High Court and the National Green Tribunal for the worsening air
pollution in the Capital, theDelhi government got a breather with none other thanChief Justice of India
T.S.Thakur for odd-even formula of car use
Chief Justice Thakurs Bench is hearing a suo motu litigation requiring commercial vehicles plying
throughDelhi to pay environmentalcompensation cess along with entry toll charges.
However,the case recently reached aroad block when the private toll contractor employed by the
Municipal Corporation ofDelhi objected to the Supreme Court order, saying that he instead would
want to opt out of the toll contract itself.
Seventy-two years after it was first produced, the 1943 Ford GPA Amphibious Seep, which helped
put thousands of Allied troops on the Normandy beach during World War II, came to the rescue of
Chennai residents when a businessman used the vehicle for extensive relief work.
The landing is considered the most decisive military operation that quickened the destruction of the
Nazi regime.
Taken into account the safety issues for women who drive, so they will not be included in this
formula. It will mean that all women drivers, even those who are driving cars registered under someone
elses name, will not be stopped
The Aam Aadmi Party government had announced this move in December, after coming under fire
from the High Court, which said living in Delhi was like living in a gas chamber.
Page 2
Air quality in the Capital has been very poor this year, with it only expected to get worse as
temperatures dip.
First phase of plan from January 1-15, impact of first phase will decide its extension.
Vehicles ending with odd number to run on dates starting with odd number similarly for even number.
This will be applicable only between 8 am to 8 pm and Sunday's will be free for all.
1000 more buses will be put on roads to check the extra traffic.
In a setback to peace-making efforts by External Affairs Minister Sushma Swaraj, the United Madhesi
Democratic Front of Nepal on Monday rejected the Framework Agreement that the Nepal
government had presented as a break through solution to the nearly four-month-long economic
blockade.
The Nepal governments disinclination to discuss boundary demarcation for a single Madhes province
stretching from Mechi in the east to Mahakali in the west had proved that the government of K.P.
Sharma Oli was not yet sincere about guaranteeing rights to the Madhesi people.
As heavy rain brought the water level in the Mullaperiyar dam closer to the permissible limit of 142
feet, the Kerala government is preparing to move the Supreme Court against Tamil Nadu for the failure
to comply with dam safety regulations.
Three spillway shutters of the Mullaperiyar dam were lifted by half a foot following a surge in inflow.
The water level was 141.78 ft at 5 p.m. on Tuesday. Against an inflow of 2,600 cusecs, Tamil Nadu
drew 2,000 cusecs while 600 cusecs were released into the Idukki reservoir through the Periyar river.
Ahead of the Nairobi meeting of the World Trade Organisation (WTO), civil society groups have urged
the Union government not to undertake new binding commitments with- out public consultation as
well as before debate and ratification by Parliament.
Organisations such as the Forum against Free Trade Agreements and the National Working Group on
Patent Laws and WTO also asked Parliament to take inputs from all stakeholders and carry out a
thorough assessment of the employment, social and environmental impacts arising out of the
commitments India makes at the WTO-level talks as well as due to the various free trade agreements
(FTA) between India and other countries.
Out of Step 2015 re- port on TB policies in 24 countries, including India, was presented recently at
the 46th Union World Conference on Lung Health in Cape Town, South Africa.
The report was jointly prepared by Stop TB Partnership and MSF Access Campaign.
Despite recording 71,000 MDR-TB cases (both new and retreatment) in 2014, the Indian TB policy
continues to recommend the use of Category II treatment regimens contain- ing streptomycin. It uses
the drug.
unlike South Africa, Brazil and the Russian Federation which have rec- ommended rapid molecular
testing (Gene Xpert) instead of sputum smear microscopy as the initial diagnostic test for all
Page 3
As the crucial COP 21 climate negotiations go on in Paris, there is something for the coastal ecosystem
in India to cheer about.
The latest report of the Forest Survey of India (FSI), 2015 released in the first week of December has
recorded a net increase of 112 sq. km. of mangroves forest one of the regions most vulnerable to
climate change.
The earlier FSI report in 2013 recorded a net decrease of 34 sq. km. of mangrove forest.
According to the latest report, the overall mangrove cover in the country stands at 4,740 sq. km., which
is 0.14 sq. km. of Indias overall geographical area.
In fact, there are only 12 States and Union Territories along the countrys coastline that can boast of
mangroves.
West Bengal, which has a total mangrove cover of 2,106 sq. km., accounts for 44.5 per cent, the highest
in the country. It is followed by Gujarat with about 1,107 sq. km.
Andaman and Nicobar islands also has a considerable mangrove forest cover with 617 sq. km. of it.
As per the report, the very dense mangrove forest in the country comprises 1,472 sq. km. (31.05 per
cent), moderately dense mangrove spans 1,391 sq. km (29.75 per cent) and open mangroves constitute
1,877 sq. km. (39.60 per cent).
Seven years after the 26/11 Mumbai attacks, India and Pakistan have agreed to resume struc-tured
dialogue.
India and Pakistan have decided to restart the Comprehensive Bilateral Dialogue. The dialogue that
was earlier known as Composite Dialogue and later on as Resumed Dialogue willnow be known as the
Comprehensive Bilateral Dialogue
If its taken along with FS Jaishankars visit to Islamabad, then the Ufa meeting, it is the third attempt
by the Modi government to reachout to Pakistan
TAPI Project
India and Pakistan will participate in another ground breaking event at the highest levels.
Vice President Hamid Ansari will travel to Ashgabat from December 11-13 for the inauguration of the
$10 billion Turkmenistan-Afghanistan-Pakistan-India pipeline (TAPI) project
The inauguration will take place on December 13, with all three leaders hosted by Turkmen President
Gurbanguly Berdymuhamedov.
While the TAPI project has been discussed by Turkmenistan, which has the worlds fourth largest
reserves of natural gas, since 1995, India only joined the project formally in 2008. The project has
been stalled over the years over gas price negotiations, transit fees, and the problems of security in
Afghanistan and Pakistan.
Calling TAPI the most significant initiative in our relationship, Mr. Modi had said it could
transform regional economic cooperation and bring prosperity along the route.
Unless the security situation in Afghanistan is stable, this project wont work. Particularly with the
splitting of Taliban, rise of the ISIS, and the governments inability to exert control in the western and
southern parts, which does not look likely to be resolved anytime soon
Page 4
The TAPI pipeline is expected to be completed by 2020, although operationalisation could take a few
years more, and is expected to transport about 90 million standard cubic meters of gas per day. Indias
share of 38 mmscmd would account for about 25% of its current gas requirements. The 1800km
pipeline project contract would provide energy to Afghanistan, Pakistan and India for 30 years, with
Turkmengaz extracting the natural gas at a shared cost from the Galkynysh field, the worlds secondlargest reservoir of natural gas.
In what may be a precedent preventing illiterate persons from participating in grass roots democracy,
the Supreme Court upheld a Haryana State law mandating that only those having minimum
educational qualifications will be eligible to contest panchayat elections in the State.
The other grounds for disqualification from contesting polls under the Haryana Panchayati Raj
(Amendment) Act, 2015 are failure to pay arrears to any primary agriculture co-operative society or
agriculture co-operative banks, failure to pay electricity bill arrears and not having a functional toilet
at home.
The minimum education required for eligibility to contest in a panchayat election is completion of
matriculation in case of general candidates; completion of Class 8 for a woman candidate or a candidate
belonging to Scheduled
Caste; and completion of Class 5 pass for a Scheduled Caste woman candidate con- testing for the post
of Panch.
The law leaves 68 per cent of the Scheduled Caste women and 41 per cent of the Scheduled Caste men
in Haryana ineligible to contest panchayat elections.
The judgment may become a rallying point for other States also to amend their laws in the same
fashion.
The Pakistan-born American national and Lashkar-e-Taiba (LeT) operative, David Coleman Headley,
will depose as a prosecution witness before a special court, after the court granted him conditional
pardon and accepted his proposal to turn approver in the November 26, 2008 Mumbai terror attack
case.
Kerala is expected to be declared the first digital State in the country shortly, on the strength of its
digital infrastructure and e-governance initiatives.
State had succeeded in leveraging ICT for economic growth and making government services
affordable and accessible for the masses.
several initiatives were taken by the state under the Digital Kerala programme.
The high mobile and Internet penetration and the increasing use of smart phones had hastened the
evolution of Kerala as a digital society.
Chennais resilience to the recent deluge has taken a severe beating as nearly a quarter of its wetlands,
open space and flood plains have given way to con- crete structures.
Page 5
Months before the series of depressions and freak weather developments hit the city, Indian Institute
of Science (IISc), Bengaluru, tabulated the worrisome growth patterns of the coastal city.
In cities like Chennai and Kolkata, marshes and flood plains play a very important role in draining out
overflowing rivers.
This doesnt seem to have been understood by urban planners. One cant encroach the buffer around
rivers without consequences.
through the modelling of current growth along with planned and unplanned expansion of the city, looks
grim.
Built-up area of asphalt, concrete and metal is set to nearly double in size over the next decade, while
open spaces will decline by a third.
The latest data show that 39 per cent of children under five in India are short for their age (stunted).
The two States that had the worst stunting rates in 2005-06 Uttar Pradesh and Bihar have made
the least progress over the 2005-2014 period, noted the Global Nutrition Report, the first of its kind to
be released. The global rate is 24 per cent.
The India Health Report (IHR), 2015, offers a critical analysis of nutrition at the national and State
levels. The IHR compared nutrition levels among children in 28 States and Delhi.
We focussed on the topic of child stunting and malnutrition, given its magnitude and persistence in
our country.
Even with recent impressive improvements, Indias stunting problem represents the largest loss of
human potential in any country in human history.
The GNR notes an increase in the number of countries on track to meet global nutrition targets, and
encourages countries to establish specific and time-bound targets for malnutrition reduction that are
consistent with the new Sustainable Development Goals.
National targets should help accelerate progress and promote accountability.
While the GNR points to Indias improved performance in reducing its high burden of malnutrition,
both re- ports conclude that this improvement should be much more rapid.
Even as school managements heaved a sigh of relief after the government relaxed the rule that makes
inclusion of Aadhaar card numbers in the SSC forms mandatory.
The Andhra Pradesh State Edu-cation Department, in a circular issued on November 26, said inclusion
of Aadhaar number was mandatory for students writing their SSC exams in March 2016.
The categorical warning handed out by the department, setting December 15 as deadline, sent school
managements and parents into a tizzy.
It took a good number of furious parents and baled school managements to deplore the move and
remind the authorities concerned about the SC directive that Aadhaar card should be made mandatory
only for those availing an LPG subsidy and the beneficiaries of the Public Distribution System, to
retract the move.
Then there is the problem of discrepancy in the spellings of the students' names and other details in the
birth certificates and the Aadhaar cards which need to be addressed afresh.
Page 6
INTERNATIONAL
Paris climate talks
The final draft of the Paris Climate agreement, was released by the UN Framework Convention on
Climate Change
French President Francois Hollande said instituting a review mechanism to monitor compliance on
carbon emissions by countries, and transfer of climate friendly technologies to developing nations
continue to be hurdles, but they could be resolved by pushing ahead.
The overall goal of the Paris agreement, to keep global temperature rise to a specified quantum
compared to pre-industrial levels, is pegged at either below 1.5 degrees C, or, as well below 2
degrees C.
President Xi Jinping of China described his vision for a new multinational, multibillion-dollar bank
to finance roads, rails and power grids across Asia. Under Chinese stewardship, the bank would tackle
the slow development in poor countries that was holding the region back from becoming the wealth
centre of the world.
The enthusiasm didnt last long, as the Obama administration began a rear-guard battle to minimise
the banks influence.
The Chinese-led institution, the Asian Infrastructure Investment Bank, is picking its first projects. The
choices, which are expected to be announced in the coming months, will provide critical insight into
how China plans to wield its power.
China is taking direct aim at the current development regime, the Bretton Woods system established
under U.S. leadership after World War II to help stabilise currencies and promote growth.
As a complement to the new bank, China is rolling out the One Belt, One Road program for the
construction of a network of roads, rails and pipelines along the old Silk Road route that runs through
Central Asia to Europe. A maritime equivalent calls for building ports from Southeast Asia to East
Africa to the Mediterranean.
India adopted an aggressive position and asked developed countries how their economies could grow
without growth in India and other developing nations.
India is being asked for a peaking date for coal use, as China has provided, and urged to adopt a fiveyearly periodic review of its national emission reduction pledges.
India had no problem with freezing the worlds carbon emissions at the cur-rent level, to avoid any
further man-made rise in global temperatures over 0.8 degrees C, but that would leave no space for
growth.
Developed countries had already occupied two-thirds of the 3gigatonne carbon emissions space in the
atmosphere available to stop a rise in temperatures beyond 2 degrees C.
On the second contentious issue of a periodic review under a Paris agreement, India is arguing that the
voluntary pledges submitted are for a10-year cycle from 2020.
Page 7
After that period, it could give more progressive INDCs. What is evident, however, is that there is
pressure from vulnerable countries such as islands and many poor nations that will be affected the most
due to climate events, to tighten the emission targets in shorter cycles.
U.N. Secretary General Ban Ki-moon also called for regular five-year cycles for the review
mechanism while addressing the opening of the high level segment of the CoP21
Russias decision to export is highly capable Su-35 planes is expected to bolter Chinas military
presence in the South China Sea. It is also set to escalate military technology exchanges that would
help Beijing and Moscow develop cutting edge weapons.
After protracted negotiations that lasted several years, Russia finally relented to sell China, 24 Su-35
planes.
$2 billion deal means that transfer of technology, which Beijing badly requires to develop the next
generation of weapons, is part of the contract.
China will benefit from the purchase of the Russian jets in three ways. First, the acquisition of 24 Su35 planes would greatly extend Chinas reach over the South China Sea.
Su-35 planes, capable of taking off from short runways, will cover a large footprint if deployed from
Chinas newly developed artificial islands in the South China Sea. Second, the Russian jets can
effectively counter the U.S. F-35 stealth fighters.
A Draft Paris Out-come providing the final base text for the 195 countries of the UN Framework
Convention on ClimateChange to craft the Paris agreement was released on 9th December.
Document will now be taken up for discussion overnight on the key questionsof finance, loss and
damage payments to developing countries, emissions cutting obligations for emerging nations and the
frequency and nature of review.
France, as the chair ofthe Conference of the Parties (CoP21) of UNFCCC in Paris, hopes to pull of a
major victory with an agreement that has been in the making for six years after the failure of the
Copenhagen summit.
On the long term temperature goal, the outcome contains three optional provisions to reflect the1.5
degrees C temperature limit; to reaffirm the below 2degrees C limit and to express the goal as well
below 2 degrees C; to have below 1.5 degrees C as the temperature limit. The last option is
accompanied by a provision emphasising use of the best available science, equity, sustainable
development, and the need to ensure food security.
Draft includes Loss and Damage that will pay developing countries to respond to the effects of climate
change is included as Article 5 tentatively, and the Warsaw International Mechanism is to serve the
Agreement on the subject.
Mitigation of Greenhouse Gases, which in the short term lies mostly in the realm of developed
countries, is also up for intensive discussions, as peaking of global GHGs is to be done as soon as
possible with the developed countries doing more initially and developing countries taking longer.
Emissions cuts for a later period are in a suggested a range: [40 - 70 per cent] [70per cent] [70-95 per
cent] below 2010 levels by 2050
Page 8
U.S. magazine Timeon Wednesday named German Chancellor Angela Merkel as its Person of the
Year2015, hailing her leadership during Europes debt, refugee and migrant crises, as well as Russias
intervention in Ukraine.
Time named Abu Bakr al-Baghdadi, leader of the Islamic State (IS) extremist group, Republican
presidential candidate Donald Trump, Americas Black Lives Matter activists campaigning against
inequality against AfricanAmericans and Iranian President Hassan Rouhani as its runners up.
The bilateral discussions on the Paris Agreement produced many converging points, notably on
Indias demand that developing countries be differentiated explicitly from the developed world in the
text of the pact, as provided for in the U.N. Framework Convention on Climate Change.
The major points covered by the discussions were differentiation, the nature of the agreement, finance
and technology transfer, and harmony between the agreement text and the decision that will be made
by CoP21.
Transparency measures in implementation, which will be laid down for all countries to follow in a
prescribed manner, also figured in the talks.
India wants the sanctity of voluntary national pledges to reduce carbon emissions, called INDCs, to be
maintained in the agreement.
It was unacceptable that when 186 countries had submitted their INDCs, representing a huge
movement forward, there was only one optional mention of such pledges in the outcome draft released.
If Europe and America adopt ideas which are in sync with the Like-Minded Developing Countries
(LMDC) and the Brazil, South Africa, India, China (BASIC) group, the Paris Agreement can
successfully move ahead.
Indias IPR import bill highlights the importance of technology transfer to fight climate change without
rigid Intellectual Property Rights restrictions.
In a six-year period, $21 billion has been spent, representing total Indian expenditure on all kinds of
technology, not climate change.
As India and Russia gear up to sign a major deal for manufacture of Russian light utility helicopters in
India with significant participation by the private sector, Russia is keen to conclude a mutual
investment guarantee pact with India for joint de-fence projects in future.
In the first stage it can be a government-to-government agreement. In the second stage it can be at the
business-to-business and central bank level. Payment can be in local currencies which will minimise
risks.
India and Russia are expected to conclude the Inter-Governmental agreement for the production of 200
Kamov-226K light utility helicopters in India during Prime Minister Narendra Modi's visit to Russia
later this month.
A second-level agreement will be signed between Russian Helicopters and the In-dian partner.
An Indian private player is likely to be chosen to work with Hindus-tan Aeronautics Limited (HAL)
under the Make in India initiative.
Page 9
The euphoria created by the Leaders Event nearly two weeks ago of a smooth Paris Climate Agreement
emerging by Friday has evaporated, and countries are crunching the most contentious parts of the pact,
hop-ing to come up with an agreed outcome by Saturday morning.
Amid demonstrations and campaigns at the CoP21 venue by activists, the multilateral issue that has
gone down to the wire is differentiation the part of the agreement that will make obligations heavier
for the developed world to both cut emissions and fund the developing countries, and give lighter
responsibilities to developing nations.
The voluntary pledges made by 186 countries would make the Paris deal a simple and straight affair
has been belied as oil producing countries and their allies are op-posing the 1.5 degrees C tighter
temperature target over the 2 degrees C favoured originally by many emerging economies.
Saudi Arabia has also been blocking the 1.5 degrees target. It represents the Arab region which, along
with the Middle East and North Africa, is as much vulnerable to cli-mate change as others.
How much money would be raised by the developed world by 2020 with $ 100 billion as the floor and
how that is to be earmarked is also hanging fire.
The world's top greenhouse gas emitter, China, remains firm on differentiation.
India is likely to ratify the World Trade Organisations (WTO) Trade Facilitation Agreement (TFA),
aimed at easing customs rules to expedite trade flows, during the Nairobi meeting of the global trade
body from December 15 to 18.
Not using all the available safeguards could lead to greater chances of India finding it difficult to
implement all its TFA-related commitments on time, thereby giving opportunities to other countries
to drag it (India) to the WTOs dispute settlement panel
In November 2015, WTO member countries had adopted a protocol of amendment to make the TFA
a part of the overall WTO Agreement. However, the TFA will become operational only after twothirds of the members ratify it. So far, only 53 of the 162 member countries have done so.
New Delhi is planning to ratify the TFA as part of the governments initiatives to attract more
investment by improving Indias ranking in the World Banks ease of doing business report, the
sources said. The government wants India to leapfrog its position from 130th this year (out of 189
countries) to the top 100 next year and then in the top 50 soon.
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External Affairs Minister Sushma Swaraj will visit Islamabad, leading the Indian delegation to the
Heart of Asia donor conference on Afghanistan
The meeting of NSAs in Bangkok and Ms. Swarajs Islamabad visit are part of the governments
decision to reset the engagement with Pakistan that has suffered after the cancellation of Foreign
Secretary talks in 2014 and NSA talks earlier this year, and will ensure that the governments meet at
four levels: of PM, EAM, NSA and Foreign Secretaries within a span of 10 days.
The government agreed to include Jammu and Kashmir in the talks along with terrorism, which it had
earlier refused to
India and Russia are exploring the possibility of setting up a joint venture in India to improve supply
of spares for the Sukhoi-30 frontline fighter aircraft. The two sides are also in advance negotiations
for a long term agreement for spares for the fleet, of which just over 50 percent are operational at any
given point of time.
The agreement will simplify the bureaucratic procedures for procuring spares and hence cut the time
required to process any request from the Air Force by simplifying procedures like customs, bank
guarantees, letter of credit and so on. The prices for spares and a method for price escalation will also
be factored in
The idea is to eventually in-crease serviceability to 75 percent for the Air Forces Sukhoi fleet.
Sukhois are the mainstay of the Air Force but have poor availability due to spares and maintenance
issues
India and Russia started working on a long-term agreement in 2006 and eventually agreed on a
technical assistance agreement in 2012for aircraft maintenance and spares which brought downtime of
repairs of aircraft to be sent to Russia from 8-15months to 60 days.
India announced a programme to open eight more long-term ecological observatories to study the
effects of climate change.
The new facilities under the Indian Long Term Eco-logical Observatories (I-LTEO) would assess the
health of eight different biomes (types of habitat)and come up with long-term research findings on the
changes there that were happening due to climate change.
It will cover the Western Himalayas to Western Ghats, Eastern Himalayas to Andaman and Nicobar
islands, central India to the Sundarbans, and from Jam-mu and Kashmir to Rajas-than and Gujarat.
The ILTEO would scientifically monitor flora and fauna to assess how climate change is affecting
natural and closely associated human systems in agriculture and pastoralism.
The theme of the conference jointly hosted by Pakistan and Afghanistan, is Heart of Asia-Istanbul
Process: Enhanced cooperation for countering security threats and promoting connectivity in the Heart
of Asia region.
Page 11
The countries forming the BASIC group Brazil, South Africa, India and China on Tuesday
committed themselves to a comprehensive, balanced, ambitious and legally binding agreement
emerging from the Paris Climate Change conference, but cautioned that it must not deviate from the
differentiation principles that are already part of the UN Framework Convention on Climate Change.
China, which has a parallel understanding with the U.S. on tackling climate change, joined the other
developing countries in the bloc, and carefully skirted the contradictions between the U.S. position and
the stand of the developing countries.
Developing countries are being asked to undertake low carbon strategies as a commitment at CoP21,
but there are differences on what kind of funding would be provided for adaptation, loss and damage,
and support actions.
From Indias perspective, events such as the Chennai and Uttarakhand floods and distressing crop
failures due to drought are strongly linked to climate change, and an agreement for the future must
have provisions for adaptation, and loss and damage.
India and China are apprehensive about the report of OECD, which claimed that $62 billion had been
raised in 2014.
On a second contentious issue, the review of national actions pledged in Paris as INDCs for the period
after 2020, India said countries had made national choices of either a five-year or ten-year INDC.
Bullet trains will be a reality soon in India. The contract to build the bullet train link between Mumbai
and Ahmedabad is expected to be declared in favour of Japanese bullet train major Shinkansen at the
weekend summit meeting between Japanese Prime Minister Shinzo Abe and Prime Minister Narendra
Modi.
Mr. Abes December 11-13 vis- it, will have a new set of guidelines that Japan has reportedly extended
a Rs. 98,000-crore loan for the ultra modern high-speed train project.
The new guidelines are meant to scuttle plans by rivals like China n the Indian infrastructure market.
Another key initiative to be unveiled during the visit will cover transfer of technology in defence.
Japan's new and aggressive investment plans in India will not be limited to mega infrastructure projects
such as bullet trains and will cover almost the full spectrum of prominent government schemes such
as Make in India and Swachh Bharat.
Expressing his government's desire to invest in key sectors, Prime Minister Shinzo Abe on Friday said:
Japan has decades of experience of doing business with India. It is this experience which will help us
in India.
Mr. Abe delivered a brief speech at the Japan-India Innovation Seminar.
Page 12
The bullet train project be-tween Mumbai and Ahmedabad and will be a showpiece of India-Japan
collaboration.
Japan has offered to finance 80 per cent of the cost of the project interest rate of less than 1 per cent.
Vice-President Hamid Ansari will join Pakistan Prime Minister Nawaz Sharif and Afghanistan
President Ashraf Ghani along with his host Turkmenistan President Gurbanguly Berdimuhamedov on
Sunday to press a button that will forge the first pipeline to supply Turkmen gas to Afghanistan,
Pakistan and India, (TAPI) with a final length of nearly 1,800 km by the time of its completion in 6-7
years.
The project has potential to extract from it between 15-25% of its natural gas needs of India. India
joined TAPI in 2008.
Afghanistan, which will receive about 16% of the gas (India and Pakistan will have a share of 42%
each) from the pipeline, would also receive an estimated $200-$250 mil-lion as transit fees from
Pakistan.
Similarly, India would pay Pakistan transit fees for the pipeline that will originate in Turkmenistan's
south east areas, travel through Herat, Fa-rah and Helmand provinces of Afghanistan, entering Pakistan
in Balochistan and then cutting across Pakistan Pun-jab to reach the border area of Fazilka-Abohar in
Indian Punjab.
The cost of laying infrastructure to protect the pipe-line from possible attacks will affect the TAPI's
viability.
India and the U.S. have identified 17 new areas for potential cooperation under the Defence
Technology and Trade Initiative (DTTI), a flagship scheme to enhance bilateral strategic partner-ship,
particularly in high technology, launched in 2012.
Concluding his four-day tour of the United States, Defence Minister Manohar Parrikar said he and his
counterpart, Ash Carter, had agreed to closely monitor the progress of the DTTI.
Page 13
ECONOMY
India may ban imports of 24-carat gold jewellery
India is planning to ban imports of 24-carat gold jewellery in an attempt to curb the misuse of free
trade agreements (FTAs) with Asian countries
The world's second biggest gold consumer raised the import duty on the metal to 10 percent in 2013
to curb demand but that has boosted smuggling and prompted some importers to use India's FTAs with
the Association of Southeast Asian Nations to import 24-carat gold jewellery at just two percent import
duty.
The government is now planning to change existing rules to allow imports of only lower-quality 18
and 22-carat jewellery
Members of OPEC failed to agree an oil production ceiling on Friday at a meeting that ended in
acrimony, after Iran said it would not consider any production curbs until it restores output scaled back
for years under Western sanctions.
Oil prices have more than halved over the past 18 months to a fraction of what most OPEC members
need to balance their budgets. Brent oil futures fell by 1 per cent on Friday to trade around $43, only
a few dollars off a six year low.
Banks such as Goldman Sachs predict they could fall further to as low as $20 per barrel as the world
produces more oil than it consumes and runs out of capacity to store the excess.
OPEC's secretary general Abdullah al-Badri said OPEC could not agree on any figures because it could
not predict how much oil Iran would add to the market next year, as sanctions are withdrawn under a
deal reached six months ago with world powers over its nuclear programme.
Iran has made its position clear ahead of the meeting with Zangeneh saying Tehran would raise supply
by at least one million barrels a day or one per cent of global supply after sanctions are lifted.
The world is already producing up to 2 million bpd more than it consumes.
Indias total installed capacity of solar power has crossed the 5-GW-mark. The total commissioned
utility solar capacity in the country stands at about 4.7 GW, while rooftop capacity is 525 MW,
according to Bridge to India, a solar energy consulting firm
While the central government has laid down the ambitious target of 100 GW by 2022, states have
taken the lead over central government schemes in the last year. Encouraged by falling costs and
growing need for green energy, states like Punjab, Madhya Pradesh, Karnataka, Telangana, Andhra
Pradesh and Tamil Nadu have all announced substantial policy initiatives
As of today, the country has a solar project pipeline of 15.7 GW.
Solar Energy Corporation of India is engaged in implementing a number of renewable energy projects
including setting up of 2,750 MW solar power projects under VGF (viability gap funding) schemes,
solar Park schemes, roof-top projects and projects in association with other organisations.
Page 14
The government is gearing up to unveil a new policy for promoting startups in January 2016 with an
eye on boosting innovation, entrepreneurship and creating new jobs.
The Start-up India policy would be a set of significant measures to encourage entrepreneurship in the
economy and we hope it would become agame-changer in making the ecosystem conducive for new
ventures
Nearly 90 per cent of the venture capital in Indian startups is coming from overseas. We are trying to
create a domestic VC industry and the Rs.2,000 crore allotted from this fund would enable seed
funding for entrepreneurs and innovators
The government is striving to introduce five more labour reform legislations in the winter session of
Parliament, including the bills to introduce a new wage and industrial relations code and amend laws
governing child labour and bonus payments.
These are in addition to the amendments to the Factories Act of 1948 that the government had listed
for introduction in the Lok Sabha last week, but eventually wasnt tabled. The only new bill to be
introduced in Parliaments lower house so far in this session is the Arbitration and Conciliation
(Amendment) Bill, 2015.
The government has officially listed the Payment of Bonus (Amendment) Bill, 2015 for consideration
and The government has also proposed to introduce the Child Labour (Protection and Regulation)
Amendment Bill, 2012 in the Rajya Sabha this week. The Bill proposes that children below fourteen
years of age may only be allowed to work in their own family enterprises. It also bars employment of
children in hazardous occupations till the age of 18 years. Nobel laureate Kailash Satyarthi has,
however, raised concerns about the Bill reducing the list of such occupations from 83 to just three
mining, inflammable substances and explosives and hazardous occupations as per the Factories Act.
passing in the Lok Sabha this week
The law is being changed to make more employees eligible for bonus and double such payments. It
proposes to raise the salary ceiling for statutory bonus payments to Rs 21,000 per month from Rs
10,000 specified under the 1965 law.
The Small Factories (Regulation of Employment and Conditions of Services) Bill, for instance, seeks
to make it easier for manufacturing firms to employ upto 40 workers by exempting them from
compliance with six labour laws which include the Factories Act, the Industrial Disputes Act of 1947
and the Shops and Establishment Acts of respective states.
The code on wages aims to replace four diferent laws pertaining to salaries the Payment of Wages
Act of 1936, the Minimum Wages Act of 1948, Payment of Bonus Act, 1965 and the Equal
Remuneration Act, 1976. Similarly, the code on industrial relations would substitute three diferent
laws the Trade Unions Act of 1926, the Industrial Disputes Act and the Industrial Employment
(Standing Orders) Act of 1946.
The government has also proposed to introduce the Child Labour (Protection and Regulation)
Amendment Bill, 2012 in the Rajya Sabha this week. The Bill proposes that children below fourteen
years of age may only be allowed to work in their own family enterprises.
It also bars employment of children in hazardous occupations till the age of 18 years.
Page 15
With its listed firms adding over $100 billion to market capitalisation in the last 15 years, the Tata
Group is looking at an increase of nearly $250 billion by 2025, including through acquisitions.
As per its 2025 vision, Tata group aims to be amongst the 25 most admired corporate and employer
brands globally, with a market capitalisation comparable to the 25 most valuable companies in the
world
The current problem of mounting bad loans on the books of PSU banks first caught public attention in
early 2012 when a spurt, especially in their restructured standard loans (uncollectible loans that have
been given a fresh lease of life) happened.
As of endMarch 2012, ratio of gross NPA plus restructured standard loans (for this combination, a
creative and somewhat obfuscating term stressed assets was coined later) rose to 8.8 per cent
from 6.6 per cent a year earlier.
The corresponding numbers for new private sector and foreign banks were much lower.
The conventional wisdom regarding the provenance of the record build up of impaired loans at PSU
banks is the decline in the countrys growth rate in the aftermath of the Global Financial Crisis (200810) and the policy atrophy during the second UPA regime, causing significant damage to new projects
in infrastructure, power generation and civil aviation sectors.
This line of reasoning is not completely devoid of merit, but it does not explain why PSU banks should
be bleeding profusely and private sector and foreign banks should remain largely unscathed.
RBI issued a set of comprehensive guidelines on restructuring of loans in August 2008, but there was
no relaxation of asset classification norms.
However, soon thereafter in April 2009, major relaxations in asset classification norms were
announced, permitting restructured loans to be categorized as standard, with a very interesting rider
though.
Banks could take advantage of the relaxation provided the restructuring was done within 120 days
from the date of approval under the CDR mechanism and within 90 days from the date of receipt of
application in other cases.
Lack of accountability has been most manifest at the level of the boards of PSU banks.
The PJ Nayak Committee report has brought out several interesting bits of anecdotal information about
their dysfunctional role.
But alongside reforms in this regard, the past boards should be held accountable for what appears to
have been systematic gaming of rules on restructuring.
We have five specific suggestions to deal with this problem. First, the government and RBI must
recognize the scale of the problem. The capitalization of PSU banks is grossly inadequate.
Further, high impaired assets of PSU banks have already begun impeding credit flow to the economy
thereby hindering growth.
Second, following the lead provided by SBI in this regard in 201415, PSU banks should be ready to
sell their NPAs to asset reconstruction companies for cash at deep discount, if necessary.
Third, disclosure of full and comprehensive information on the financial health of banks does not
happen in India
Fourth, government must be prepared to lower its stake in PSU banks. The Indradhanush reforms
are just a good beginning. For achieving something real and durable, the government, the political
class and the opinion-makers will have to jettison the long-held ideological belief that reduction of
governments equity stake below 50 per cent will be an act of sedition and sacrilege.
Page 16
Fifth, all stakeholders must realize that commercial banking is undergoing a major transformation right
now, driven largely by technology.
Fitch Ratings affirmed Indias sovereign rating at BBB-, the lowest in-vestment grade and
just a notch above junk status, and kept the outlook Stable.
The affirmation balances strong GDP growth outlook and favourable external finances with
the high government debt burden and difficult-but-improving business environment.
It forecast real GDP growth to accelerate to 7.5 per cent in the current financial year, followed
by 8 per cent in 2016-17.
The pick-up in growth, it said, will be largely driven by sup-port from the governments
beefed-up capex spending and gradual implementation of a broad-based structural reform
agenda.
Real growth averaged 6.7per cent over the past five years, which is considerably higher than
the BBB range median of 3.0 per cent
India moved up four places in the World Banks Ease of Doing Business rankings, but is still
the worst-performing of all BBB range sovereign state 130th out of 189 countries, the rating
agency pointed out
It also cautioned that the centre-plus-states debt bur-den could rise to 68.8 per cent of GDP,
one of the highest of BBB range sovereigns and far of the BBB category median of 42.8
per cent of GDP. The increase largely results from state government staking part of the power
distribution companies debt on-to their own balance sheets, following the Governments Uday
initiative
Capital markets regulator the Securities and Exchange Board of India (SEBI) will soon put in place
norms to help entrepreneurs raise funds through crowdfunding.
While discussions are also underway to allow sale of mutual funds through e-commerce platforms.
A SEBI-constituted committee, headed by Infosys co-founder N. R. Narayana Murthy, to suggest ways
for raising of funds through crowdfunding is likely to submit its report in a month.
The markets regulator had earlier come out with a discussion paper for crowdfunding norms to help
young entrepreneurs and small groups of people raise funds.
Crowdfunding typically involves young entrepreneurs and small groups of people raising funds for
their ventures through various online platforms involving individuals and organisations.
SEBI Chairman also said the regulator was actively working towards making it possible for mutual
funds (MF) to sell their schemes on e-commerce platforms.
Software market in India is expected to grow at 12.8 per cent to reach $5.3 billion in 2016, research
firm Gartner
The growth is being driven by trends like increasing adoption of Software as a service (SaaS) and open
source software (OSS), changing buying behaviours and purchasing styles associated with digital
business and Digital India initiative of the Indian government.
the Indian government is serious about leveraging information technology for effective governance.
Page 17
The Digital India initiative, MyGov citizen portal, the Self-Employment and Talent Utilization (SETU)
program for startups, and smart cities initiatives are some examples
The huge increase in non-tax revenue to Rs 1,43,633 crore from Rs.94,704 crore can mostly be
attributed to the Economic Services component of the Other Non-Tax Revenue segment.
One large component of this economic services segment is revenue earned through the energy sector,
due to the auctions taking place there, and another is the revenue the government is earning in stages
from the telecom auctions conducted last year
Another area contributing to the increase in non-tax revenue is the dividends and profits accruing to
the government, especially what was transferred from the Reserve Bank of India (RBI) to the
government
The increase in tax revenue can mostly be explained by the fact that indirect tax collections in the form
of customs, excise and service tax have increased significantly due to revenue-generating measures
taken by the government over the last year such as increasing the excise duty on petrol, diesel and
tobacco, and increasing the service tax rate.
The Centre is looking to do away with the practice of classifying expenditure as plan and nonplan in the Budget documents as part of an effort to improve the link between spending and
outcomes,
The distinction, in the budget due to be presented in February 2016, could be between capital and
revenue spendinga proposal first mooted in 2011 by Dr. C. Rangarajan.
In the backdrop of the abolition of Planning Commission and setting up of NITI Aayog, the
classification of expenditure as plan and non-plan is in the way of losing its relevance
For the remainder of the XII Plan, which will run till 2017, the current practice will continue but
after that the new distinction was expected to be adopted also at the state level, the Finance
Secretary clarified.
Finance secretaries of 29 States and two UTs participated in the conference convened against the
backdrop of 14th Finance Commissions recommendations, which are being implemented from 1st
April, 2015 and will continue to be in place till March 31, 2020
The Export Promotion Council for export oriented units and Special Economic Zones (EPCES)
has opposed a proposal being considered by the finance ministry for abolition of all direct tax
benefits for SEZs not operationalised before April, 2017
Following the implementation of Minimum Alternate Tax and Dividend Distribution Tax,
imposed by the previous UPA government in the FY12 Budget, there is already a slowdown in
SEZ sector in terms of growth in exports from these enclaves, reduced number of SEZ
notifications, slower operationalisation of SEZs and increased number of applications for denotification of approved SEZs.
Page 18
If the proposal for abolition of direct tax benefits for SEZs not operationalized before April,
2017 is also implemented, it will further dent the investor friendly image of SEZs, he said. SEZ
Act was enacted to provide long term stability and continuity to the SEZ Scheme, he added.
Union Fertilisers Minister Ananth Kumar said there would be a separate ministry for pharma and
medical devices sector in the next one year, and assured that the government will soon implement the
Katoch panel recommendations to cut bulk drugs import from China.
Government recognises the pharmasector as a sunshine industryhaving a tremendous poten-tial for
growth.
In order to benefit the domestic pharma industry, the government plans to implement the
recommendations by the Ka-toch Committee in the next 100 days.
The government had set up a committee headed by V. M.Katoch, Secretary, Health Research, to
suggest ways to reduce the dependence on bulk drug imports from China.
India currently meets about 80 per cent of its demand of bulk drugs or API,used as raw materials by
the pharmaceutical industry, from Chinese imports
Government, for the betterment of people, is in the process of revising the National List of Essential
Medicines (NLEM)2011.
The Union Cabinet cleared a Rs.4,000crore package to spur Indias ship building industry, combined
with a slew of incentives which include the right of first refusal on all government purchases for Indian
shipyards, tax incentives and the infrastructure status for ship building and ship repair industry that
would help them tap easier financing.
This package comes at the back of an exemption granted by the finance ministry in late November on
all raw materials and parts used in the manufacture of ships/vessels/ tugs, and others, from customs
and central excise duties.
The ship building industry is strategically important industry due to role in energy security and
maritime defense and for developing heavy engineering industry,
Bills cleared
The Cabinet cleared the Real Estate (Regulation and Development) Bill, 2015 that aims to set up State
level real estate regulators and mandate developers to register their projects and regularly disclose
milestones to home and commercial property buyers.
The Bill provides uniform regulatory environment to ensure speedy adjudication of disputes and
orderly growth of the real estate sector. It will boost domestic and foreign investment in the sector
and help achieve the objective to provide Housing for All by enhanced private participation
The Bill aims at restoring confidence of consumers in the real estate sector; by institutionalizing
transparency and accountability in real estate and housing transactions which will further enable the
sector to access capital and financial markets
Under the Bill, the promoters of commercial and housing projects would have to disclose their entire
project plans upfront, and would not be allowed to alter design or layouts without customers' consent.
The Cabinet also approved The National Waterways Bill, 2015, based on amendments recommended
by a parliamentary panel that would designate 106 existing inland waterways as national waterways.
Page 19
As market participants gear up for the U.S. Federal Reserves meeting next week, when it is expected
to take a decision on raising interest rates for the first time in more than a decade, the Indian central
bank is keeping all its powder dry to combat any volatility in the financial markets.
RBI said it had decided to intervene in the Exchange Traded Currency Derivatives (ETCD) segment,
without specifying if it had already been active in that market.
The central bank generally intervenes in the spot currency market, and manages the rupee flows
resulting from that intervention through the forwards market.
Three exchanges National Stock Exchange, BSE and Metropolitan Stock Exchange of India offer
paired derivative contracts of rupee dollar, rupee yen, rupee pound and rupee euro.
The Indian currency has been under pressure amid foreign fund outflows and has depreciated almost
7 per cent against the dollar in the current financial year
Income tax rebate is one of the incentives being considered by the government to encourage people to
move away from cash transactions and curb black money flows, a senior official said on condition of
anonymity. The move may eventually use cashless transaction records to build a credit history for the
poor and help them access loans.
While the usage of cards and mobile payment solutions such as PayTM and Eze-ap is expanding
rapidly in ur-ban India, the government is looking at ways to take this to the hinterland. Following the
expansion of bank accounts coverage under Pradhan Mantri Jan Dhan Yojana, the government wants
to scale up the infrastructure for making digital payments so that the same convenience and
acceptability as cash can be attained. The National Payments Corporation of India is building a part of
that infrastructure.
one of the ideas being examined is that if an income tax rebate could be offered to those who make a
substantial part of their annual payments in the cashless mode. Since bank statements are already
submitted at the time of filing tax returns, it would easy to gauge the quantum of cash withdrawals
made from their accounts.
Of the many solutions to tame black money, cashless transaction is one of the very important solutions,
PrimeMinister, Narendra Modi, said, stressing that people should make cashless transactions a habit..
This is a very big opportunity and we should promote this.
India has said it will neither agree to artificial deadlines to conclude theWorld Trade
Organisations(WTO) Doha Round negotiations aimed at liberalising global trade, nor concur with
rich nations attempts to expand the ambit of the talks by introducing new issues without completely
fulfilling the Rounds development dimension.
The Doha Round talks had begun in 2001 and has since missed several deadlines for concluding it,
due to persist-ing differences between the developed and developing world on a host of issues related
to trade liberalisation and granting market opening commitments.
Significantly, on the attempts of the developed countries to introduce new issues citing the sluggish
progress of the negotiations on the one hand and the increasing relevance of these so-called 21st
Page 20
Century issues,it was important to first agree on issues of importance to the developing and the poor
world.
These include the reduction of huge and trade distort-ing agribusiness subsidies in developed
countries, an effective Special Safeguard Mechanism (a trade remedy allow-ing developing countries
to temporarily hike duties on farm products to counter sudden import surges and price falls, thereby
protecting the interests of poor farmers),and a permanent solution to the issue of public food stockholding in developing countries for the purpose of food security.
With 17 of the 22 industry groups in the manufacturing sector showing a posi-tive growth, the
industrial output in October recorded a five-year high of 9.8 per cent year-on-year.
The higher growth was on account of a favourable base, as October 2014 registered a negative growth
2.7 per cent, as well as the pre-festive sea-son ramp up in output.
The industrial output in September 2015 was 3.6 per cent. The growth logged be-tween April and
October this year over the corresponding period of the previous fiscal was 4.8 per cent.
Mining recorded 4.7 per cent year-on-year growth (versus 3 per cent in September), while
manufacturing output was 10.6 per cent for the month (versus 2.6 per cent in September).
Electricity output was seen at 9 per cent in October (versus 11.4 per cent last month).
The cumulative growth in these three sectors during April-October 2015 over the corresponding period
of 2014 has been 2 per cent, 5.1 per cent and 5.2 per cent respectively.
Crude oil prices hit fresh seven-year lows as the International Energy Agency (IEA) warned global
oversupply could worsen in the new year.
Brent slipped below $39 a barrel for the first time since December 2008 as the IEA, which advises
developed nations on energy, warned that demand growth was starting to slow.
Brent crude futures were down 60 cents at $39.13 a bar-rel at 1058 GMT, bouncing slightly from a
session low of $38.90.
India on imposed anti-dumping duty of up to 57.39 per cent on import of certain stainless steel products
from China, Korea, the U.S. and EU for five years to save the domestic industry from cheap shipments.
The anti-dumping duty imposed under this notification shall be levied for a period of five years.
The duty in the range of 5.39 per cent to 57.39 per cent of the landed value of Cold-rolled Flat'
products of stain-less steel has imposed on the recommendation of Directorate General of Antidumping and Allied Duties (DGAD) in October.
The anti-dumping duty will be 57.39 per cent on the imports from China, 5.39 to 13.44 per cent from
South Korea, 15.93 per cent from Chinese Taipei, 9.47 per cent from the U.S., 29.41 to 52.56 per cent
from the European Union, 4.58-5.39 per cent from Thailand and 12.34 to 36.91 per cent from South
Africa.
Page 21
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SPORTS
Shahzar Rizvi wins air pistol gold
Shahzar Rizvi of the Indian Air Force (IAF) beat Olympic silver medallist Vijay Kumar to the gold in
mens air pistol in the 59th National shooting championship at the Dr. Karni Singh Range,
Tughlakabad
India beat European champion and World No. 2, the Netherlands, to take bronze at the Hockey World
League Finals
India- SA series
The host remained invictus to win the Freedom Series, conceptualised as a tribute to Mahatma
Gandhi and Nelson Mandela, with a 3-0 verdict.
It also pushed India to second place in the ICC rankings.
Saina Nehwal and Lee Chong Wei earned a whopping $1,00,000 each in a closed door bid at the
auctions for the Premier Badminton League.
World No. 2 Saina and World No. 4 Lee were picked by Awadhe Warriors and Hyderabad Hunters
respectively for the league.
P.V. Sindhu generated a huge interest among Delhi Acers, Chennai Smashers and Bengaluru Top Guns
and it was finally Chennai which bagged the young Indian star for $95,000.
With hopes of catching young talent and providing professional support for the development of
football, Delhi Dynamos FC, on Tuesday, announced the launch of the Delhi Dynamos BRICS
Football Academy in India.
The academy, catering to players above five years of age, will focus on exposure to international
coaches and players, and providing 360-degree support, including education, in world-class facilities.
DDFC will also represent host India in the BRICS Under-17 Football Cup 2016, and participate in all
grassroots and CSR-related activities of BRICS.
Gurpreet Singh won the mens 25-metre standard pistol gold with a score of 573 in the 59th National
shooting championship
The 27-year-old Gurpreet, a rapid fire specialist who has won the Olympic quota place in air pistol,
had 195 in the 150-second series and 189 each in the20-second and 10-second series.
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NITI AAYOG
Cheaper oil and India's options
International oil prices have fallen by nearly half. A large part of the globe is celebrating, while a small part,
mainly OPEC countries, is unhappy. Overall, this is good for the world. By a rough reckoning, the drop of
$50 per barrel translates to a one per cent boost to global GDP. The Indian economy is also witnessing allround buoyancy, some of which is attributable to softened crude prices. The bCPI inflation rate has fallen by
half since November 2012, the current account deficit has been tamed (just above one per cent of GDP) and
GDP growth rates are soon expected to better China's. Both IEA and IEF have chosen Delhi as the venue of
important international events in April. What real promise does this hold for India's oil and gas sector? The
latter has posed challenges for decades, with large (and rising) import dependence and volatile prices. Are we
going to fritter away the opportunity to attempt bold transitions that soft energy prices make possible? A drop
in fuel price encourages consumers to make more efficient choices (oil to gas, LPG to piped natural gas), and
allows policy makers to direct investments to enable these. Policymakers must seize this opportunity to lay
the foundation of an energy-secure India. Some options in the oil and gas sector are discussed here.
The journey of oil and gas begins with exploration. The flip side is that lower price means less exploration.
Oil majors are scaling down their E&P budgets, and OPEC would be happy if high-cost production gets
choked off, and the resultant tightened supply helps price to bounce back. In this price and production debate,
what is there for India? We are a large importer and are under-explored. This makes us an attractive destination
for exploration. Oil supply now exceeds demand. India is a large oil market, and oil demand is likely to keep
growing, perhaps fastest in the world. The link between oil exploration and markets can be used by India to
great advantage. We ought to leverage our large buying power, and offer our market as the 'prize' for domestic
oil production. A quick decision on the exploration contractual regime - production sharing or revenue sharing
- could attract oil majors to explore India's sedimentary basins. India has long wooed them unsuccessfully to
undertake green-field exploration. Now is the opportunity to leverage our market to kick-start E&P, which
has slowed down in the last few years. The last NELP round was launched five years back in 2010.
Moving 'downstream', aided by cheap oil, India could fix its transport-related emissions. Vehicular emissions
may not be the only culprit responsible for deteriorating air quality, but fuel standards are definitely a part of
the solution. We have not been able to progress much after achieving BS-IV grade fuel in 2010, principally
due to poor economics in the fuel business. The oil companies were losing money in marketing diesel, and
were just not interested in investing. As per one study, capex of $4.5 billion is needed in the refining sector
for India to leapfrog to Euro VI grade, which can reduce the sulphur content from above 50 ppm to 10 ppm.
With market-determined diesel/petrol prices, the oil sector can now 'fast-forward' the above upgrade. The
same study estimates that a price hike of 50 paisa per litre could help recover the above capex, with the caveat
that this decision would also impact vehicle prices through engine upgrades. But, reduced fuel prices offer the
best opportunity to maintain overall consumer sentiment for fuel upgrades.
It is the natural gas sector which offers the bigger 'prize' in an era of low crude prices. The latter has also
resulted in cheaper LNG, simply because of the crude price link in most gas price formulae. While the share
of gas in global primary commercial energy consumption is 24 per cent, it is a mere eight per cent in India.
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MCQs
National
Ques- which of following is/ are criteria for appointment of SC judges?
a) He/She should have been for at least five years a Judge of a High Court or of two or more such Courts in
succession
b) He/She has been for at least five years an advocate of a High Court or of two or more such courts in
succession
c) He must be a citizen of India
A) a, b
B) b, c
C) c, a
D) All
Ans C
Ques- Through which amendment does socialist and secular words included in the preamble of the
Indian constitution?
A) 44th
B) 42nd
C) 43rd
D) 45th
Ans B
Ques- In which country we find madhesi community which has linkage to India?
A) Bhutan
B) Myanmar
C) Nepal
D) China
Ans C
QUES- "Kanakapuripatnam" which is situated close to river Gundalakamma the craddle of Buddhism in the
early christian era. Recently 55 bronze artefacts belonging to Buddhism were found. Where is this place
located?
A) Andhra Pradesh
B) Telangana
C) Karnataka
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Ques- Seventy third Amendment act, 1992, provides for which of the following?
a. Constitution of district planning committees
b. State election commission to conduct all panchayat elections.
c. Establishment of state finance commissions.
A.
B.
C.
D.
a only
a, b
b, c
All
Ans C
Sports
QUE- Who won the 59th National shooting Championship?
a) Vijay kumar
b) Shahzar Rizvi
c) Gagan Narang
d) Sib Kumar Ghosh
Ans- b
QUES- Match the following
1) K. Srikanth
a) Tennis
2) Dipa Karmakar
b) Gymnastics
3) Bhaichung Bhutia. c) Badmintion
4) Saketh Myneni.
d) Football
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:
:
:
Russia
USA
Pakistan
A) a only
B) a, b
C) c only
D) All
Ans B
Ques- Which among the following statements is/ are correct regarding fifth IPCC report?
a) Report has said that it is extremely likely that human interference is dominant cause of climate change.
b) Report said that human influence is no causing climate change now but it will do it in near future.
A) a only
B) b only
C) both
D) None
Ans A
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Economy
Ques- The WTO agreements uphold the principles of free trade, but they also allow exceptions in some
circumstances. Which among the following is not an exception to such principle?
A) actions taken against dumping (selling at an unfairly low price)
B) subsidies and special countervailing duties to offset the subsidies
C) emergency measures to limit imports temporarily, designed to safeguard domestic industries.
D) All of the above are included in exceptions
Ans D
Ans D
International
Ques- which of the following is correctly matched?
a) WTO :
b) IMF :
c) WHO :
Roberto Azevedo
Christine Lagarde
Ban ki moon
A) a, b
B) b, c
C) c, a
D) All
Ans A
Ques- Which among the following is not a target under sustainable development goals?
A) Zero poverty
B) Quality education
C) Combat HIV/AIDS, Malaria and Other Diseases
D) Decent work and economic growth
Ans C
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:
:
:
:
Spain
USA
India
UK
Ans B
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Medium: English
Publisher: IASEXAMPORTAL.COM
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Gist of Kurukshetra
You will be provided current affairs on various important topics on a weekly basis.
Important national and international news from various sources at a single platform for your
convenience.
Each and every topic will be given point wise , making it easier to grasp.
Very handy when it comes to various competitive exams..
VARIOUS CATEGORIES:
Planning Commission
Ministry of External Affairs
National Portal of India
National
International
Economy
India And The World
Sports
In The News
Science and Technology
Burning Issues (Editorials From Different Newspapers)