Fiscal Deficit
www.youtube.com/c/Karpathuias
Fiscal deficit is budget deficit plus borrowings and other liabilities. Previously, when budgetary defcit was the prime consideration, borrowings from the market and receipts from national savings, provident funds, etc. were being treated as capital receipts. To this extent, government’s actual deficit was being understood. In other words, fscal defcit indicates
the total borrowing requirements of the government from all sources, whereas budgetary defcit only indicated government’s borrowing from RBI.
Fiscal defcit = Revenue receipts (net tax revenue and
non tax revenue capital receipts (only
recoveries of loans and other receipts) –
Total expenditure (Plan and non-plan)
or
Fiscal defcit = Budget defcit + Government’s market
borrowing and liabilities.
www.youtube.com/c/Karpathuias
Fiscal deficit is budget deficit plus borrowings and other liabilities. Previously, when budgetary defcit was the prime consideration, borrowings from the market and receipts from national savings, provident funds, etc. were being treated as capital receipts. To this extent, government’s actual deficit was being understood. In other words, fscal defcit indicates
the total borrowing requirements of the government from all sources, whereas budgetary defcit only indicated government’s borrowing from RBI.
Fiscal defcit = Revenue receipts (net tax revenue and
non tax revenue capital receipts (only
recoveries of loans and other receipts) –
Total expenditure (Plan and non-plan)
or
Fiscal defcit = Budget defcit + Government’s market
borrowing and liabilities.
YouTube
Karpathu IAS
Vision : To create learning that accessible, effective, meaningfully and to share our experience and knowledge to our Tamilan brothers and sisters. Mission :...
CURRENTS AFFAIRS OF ENERGY TOPIC OF GS PAPER 3.
Prelims: Draft NEP, Niti Aayog
https://t.me/UPSC_2018
This article discusses the proposal of aligning energy prices with international rates and also the draft NEP.
A draft national energy policy proposing aligning energy prices with international rates will be put up for the approval of the Cabinet.
IMPACT
If approved, energy prices across sectors would become market-driven and subsides would be limited to identified beneficiaries via direct benefit transfer, much on the lines of the LPG subsidy.
The government think tank Niti Aayog in June released a draft National Energy Policy (NEP), on which it had been working since 2015.
Prime Minister had chaired interministerial consultations on the policy after the coal ministry expressed reservations over market-driven prices that would pose a threat to the monopoly and margins of Coal India.
Draft NEP: Highlights
The policy will help India integrate with the global energy world without compromising on the energy needs of the poorest of the poor, who will continue to get subsidy on all forms of energy directly into their bank accounts through direct benefit transfer.
The outward-looking policy is against any kind of subsidies at the production and distribution levels as it distorts the system.
Instead, it has strongly vouched for DBT as the technological platform to transfer subsidies to the poor after the success of LPG.
In its draft policy, Niti Aayog said India’s energy demand was likely to soar around three times by 2040, leading to increase in overall primary energy imports.
It had also made a case for a single regulator to govern India’s energy market to make ‘India’s economy energy-ready’ by 2040.
The NEP will replace the Integrated Energy Policy of the UPA regime and lay the road map for government push towards clean energy and reducing fuel import.
According to the draft NEP, the period 2017-2040 is expected to witness a quantum leap in the uptake of renewable energy, drastic reduction in energy intensity, doubling of per-capita energy consumption and tripling of per-capita electricity consumption.
Prelims: Draft NEP, Niti Aayog
https://t.me/UPSC_2018
This article discusses the proposal of aligning energy prices with international rates and also the draft NEP.
A draft national energy policy proposing aligning energy prices with international rates will be put up for the approval of the Cabinet.
IMPACT
If approved, energy prices across sectors would become market-driven and subsides would be limited to identified beneficiaries via direct benefit transfer, much on the lines of the LPG subsidy.
The government think tank Niti Aayog in June released a draft National Energy Policy (NEP), on which it had been working since 2015.
Prime Minister had chaired interministerial consultations on the policy after the coal ministry expressed reservations over market-driven prices that would pose a threat to the monopoly and margins of Coal India.
Draft NEP: Highlights
The policy will help India integrate with the global energy world without compromising on the energy needs of the poorest of the poor, who will continue to get subsidy on all forms of energy directly into their bank accounts through direct benefit transfer.
The outward-looking policy is against any kind of subsidies at the production and distribution levels as it distorts the system.
Instead, it has strongly vouched for DBT as the technological platform to transfer subsidies to the poor after the success of LPG.
In its draft policy, Niti Aayog said India’s energy demand was likely to soar around three times by 2040, leading to increase in overall primary energy imports.
It had also made a case for a single regulator to govern India’s energy market to make ‘India’s economy energy-ready’ by 2040.
The NEP will replace the Integrated Energy Policy of the UPA regime and lay the road map for government push towards clean energy and reducing fuel import.
According to the draft NEP, the period 2017-2040 is expected to witness a quantum leap in the uptake of renewable energy, drastic reduction in energy intensity, doubling of per-capita energy consumption and tripling of per-capita electricity consumption.
Telegram
Dr. Ashok Sharma
Infrastructure growth
@UPSC_18
@UPSC_2018
BLUE ECONOMY ?
Blue Economy is proving to be a catalyst in India’s progress and the performance of ports is a clear pointer towards Progress.
To serve the industry needs in a better wayIdentifying issues holding up new projects and understanding ways to improve efficiency Promoting coastal shipping and improving port infrastructure
Blue Economy:
The Blue Economy is envisaged as the integration of Ocean Economy development with the principles of social inclusion, environmental sustainability and innovative, dynamic business models.
It is founded upon a systems approach, wherein renewable and organic inputs are fed into sustainably designed systems to fuel “blue growth”.
Such “blue growth” addresses the problems of resource scarcity and waste disposal, while delivering sustainable development that enhances human welfare in a holistic manner.
Blue Economy” has emerged as a term referring to a healthy ocean, supporting higher productivity.
The current focus is confined to marine products, including minerals, as if this is all it concerns.
The concept of blue economy is much broader and encompasses even maritime activities, such as shipping services.
@UPSC_18
@UPSC_2018
BLUE ECONOMY ?
Blue Economy is proving to be a catalyst in India’s progress and the performance of ports is a clear pointer towards Progress.
To serve the industry needs in a better wayIdentifying issues holding up new projects and understanding ways to improve efficiency Promoting coastal shipping and improving port infrastructure
Blue Economy:
The Blue Economy is envisaged as the integration of Ocean Economy development with the principles of social inclusion, environmental sustainability and innovative, dynamic business models.
It is founded upon a systems approach, wherein renewable and organic inputs are fed into sustainably designed systems to fuel “blue growth”.
Such “blue growth” addresses the problems of resource scarcity and waste disposal, while delivering sustainable development that enhances human welfare in a holistic manner.
Blue Economy” has emerged as a term referring to a healthy ocean, supporting higher productivity.
The current focus is confined to marine products, including minerals, as if this is all it concerns.
The concept of blue economy is much broader and encompasses even maritime activities, such as shipping services.
From UPSC perspective, the following things are important:
@UPSC_18
All aspects related to implementation and working of GST (A question was asked in Mains 2017 on it)
Problems associated with GST
The introduction of the Goods and Services Tax (GST) raised much hope that it would herald the emergence of a ‘good and simple tax’ with ‘one nation, one market, one tax’There has been considerable concern with the new tax, both in its structure and operational details, including the ease of paying the tax and filing returnsTrade and industry have been grappling with the problem of payment, filing the returns and claiming input tax credit, and exporters have been facing liquidity crises
History of GST
GST is a standard policy recommendation for every country going in for the structural adjustment programme of the International Monetary FundThe GST has taken centre-stage in many countries and is considered important in view of the competitive reduction in corporation tax rates due to high mobility of capitalOf over 165 countries which have adopted GST in one form or another, only five have repealed it (Belize, Ghana, Grenada, Malta and Vietnam), but have reintroduced the tax later
Desirable features of GST
It is important not to have too low thresholdsReasonably high thresholds will reduce the compliance burden to a large number of small businesses without much impact on revenueIn developing countries, a threshold closer to $100,000 would eliminate 75% of the taxpayers with a revenue loss of less than 4%
2. GST should have fewer rates
Multiple rates create classification problems, are harder to administer and would require the general rate of tax to be higherIt would also invite a lot of lobbying by special interest groups
3. It is important to prepare well before the plunge
Most countries take at least two years to prepare for the introduction of reform to ensure a smooth transitionThis is particularly necessary for developing and testing the technology platform, educating the tax collectors and taxpayers and to avoid any anomalies in the structure of the tax
Indian version of GST
Given that the reform had to be evolved by taking into account the views of 29 States, two Union Territories with legislatures and the Union government, compromises are inevitableIt is impossible to expect the structure of the tax to be idealSome bad initial features may be an essential compromise to get the tax accepted in the first placeHaving four tax rates and three rates of cesses should have been avoidedIt enormously complicates the technology platform to ensure input tax credit mechanism
Way Forward
Problems of transition to a major tax reform are unavoidable and most countries go through thisAll traders, in one way or the other, are being brought into the formal sector which would hurt some of themIt appears desirable to move immediately towards three slabs with the final goal of reducing the slabs to two
and to fix the threshold at ₹50 lakh.
@UPSC_18
All aspects related to implementation and working of GST (A question was asked in Mains 2017 on it)
Problems associated with GST
The introduction of the Goods and Services Tax (GST) raised much hope that it would herald the emergence of a ‘good and simple tax’ with ‘one nation, one market, one tax’There has been considerable concern with the new tax, both in its structure and operational details, including the ease of paying the tax and filing returnsTrade and industry have been grappling with the problem of payment, filing the returns and claiming input tax credit, and exporters have been facing liquidity crises
History of GST
GST is a standard policy recommendation for every country going in for the structural adjustment programme of the International Monetary FundThe GST has taken centre-stage in many countries and is considered important in view of the competitive reduction in corporation tax rates due to high mobility of capitalOf over 165 countries which have adopted GST in one form or another, only five have repealed it (Belize, Ghana, Grenada, Malta and Vietnam), but have reintroduced the tax later
Desirable features of GST
It is important not to have too low thresholdsReasonably high thresholds will reduce the compliance burden to a large number of small businesses without much impact on revenueIn developing countries, a threshold closer to $100,000 would eliminate 75% of the taxpayers with a revenue loss of less than 4%
2. GST should have fewer rates
Multiple rates create classification problems, are harder to administer and would require the general rate of tax to be higherIt would also invite a lot of lobbying by special interest groups
3. It is important to prepare well before the plunge
Most countries take at least two years to prepare for the introduction of reform to ensure a smooth transitionThis is particularly necessary for developing and testing the technology platform, educating the tax collectors and taxpayers and to avoid any anomalies in the structure of the tax
Indian version of GST
Given that the reform had to be evolved by taking into account the views of 29 States, two Union Territories with legislatures and the Union government, compromises are inevitableIt is impossible to expect the structure of the tax to be idealSome bad initial features may be an essential compromise to get the tax accepted in the first placeHaving four tax rates and three rates of cesses should have been avoidedIt enormously complicates the technology platform to ensure input tax credit mechanism
Way Forward
Problems of transition to a major tax reform are unavoidable and most countries go through thisAll traders, in one way or the other, are being brought into the formal sector which would hurt some of themIt appears desirable to move immediately towards three slabs with the final goal of reducing the slabs to two
and to fix the threshold at ₹50 lakh.
Positive affects of changing the colonial era definition of Bamboo
#KARPATHUIAS
Bamboo: Grass from tree
Recently, the Lok Sabha amended Section 2(7) of the Indian Forest Act, 1927 which had led to bamboo being seen as timber
Earlier, a law dating back to the colonial era classified the plant as a tree
What is its significance?
The significance of this amendment is not merely academic
Classifying bamboo as a grass will remove the forest department’s hold over the natural resource and open up a range of economic possibilities, including reducing dependence on bamboo imports
How was the colonial-era definition affecting India?
Bamboo was slotted as a “forest produce” and placed in the same category as palm and other trees
After Independence, generations of foresters interpreted this provision to imply that bamboo being a tree was under the control of the forest department
The woody plant would find its way to markets largely through auctions held by the department
This monopoly has come in the way of India becoming a major player in the 60 billion dollar global bamboo market. India has 30 per cent of the world’s bamboo resources, but still imports the plan
Huge demand and supply gap
According to a CII-India Development Foundation paper, “Industrialisation of the bamboo sector in India”, at 13 million tonnes (mt) a year, India has nearly 14 million hectares of bamboo forests, but the country’s share of the bamboo market is a measly 4.5 per cent
the country’s bamboo production is far short of the annual demand of 27 mt.
SC decision on Bamboo
In 1996, the Supreme Court ruled that “felled bamboo” was not timber
And, the Forests Rights Act (FRA), 2006, classified bamboo as a “non-timber forest produce”
But both the apex court and the FRA stopped short of aligning bamboo with its taxonomic classification
The way forward
Removing the colonial-era law could enable linking the bamboo sector with government initiatives such as Make in India
It will need some hand-holding like subsidies and bank loans schemes, though.
#KARPATHUIAS
Bamboo: Grass from tree
Recently, the Lok Sabha amended Section 2(7) of the Indian Forest Act, 1927 which had led to bamboo being seen as timber
Earlier, a law dating back to the colonial era classified the plant as a tree
What is its significance?
The significance of this amendment is not merely academic
Classifying bamboo as a grass will remove the forest department’s hold over the natural resource and open up a range of economic possibilities, including reducing dependence on bamboo imports
How was the colonial-era definition affecting India?
Bamboo was slotted as a “forest produce” and placed in the same category as palm and other trees
After Independence, generations of foresters interpreted this provision to imply that bamboo being a tree was under the control of the forest department
The woody plant would find its way to markets largely through auctions held by the department
This monopoly has come in the way of India becoming a major player in the 60 billion dollar global bamboo market. India has 30 per cent of the world’s bamboo resources, but still imports the plan
Huge demand and supply gap
According to a CII-India Development Foundation paper, “Industrialisation of the bamboo sector in India”, at 13 million tonnes (mt) a year, India has nearly 14 million hectares of bamboo forests, but the country’s share of the bamboo market is a measly 4.5 per cent
the country’s bamboo production is far short of the annual demand of 27 mt.
SC decision on Bamboo
In 1996, the Supreme Court ruled that “felled bamboo” was not timber
And, the Forests Rights Act (FRA), 2006, classified bamboo as a “non-timber forest produce”
But both the apex court and the FRA stopped short of aligning bamboo with its taxonomic classification
The way forward
Removing the colonial-era law could enable linking the bamboo sector with government initiatives such as Make in India
It will need some hand-holding like subsidies and bank loans schemes, though.
( 23 Dec )
============
• The high court of this state has ordered to cut off electricity, water supplies to the unregistered commercial establishments - Himachal Pradesh
• The 20th Special Representatives level talks are underway between India and this nation – China
• This Indian female cricketer has been selected for both ICC Women's ODI Cricket Team of the Year and ICC Women's T20 International Cricket Team of the Year - Ekta Bisht
• This state’s assembly has passed a stringent bill, UPCOC, which is aimed at curbing organised crime and terror in the state - Uttar Pradesh
• The Union Cabinet on 20 December 2017 approved this new bill that seeks to establish an authority to safeguard consumers' rights - Consumer Protection Bill
• The Union government has imposed a 30 % import duty on these food grains - Chana, Masoor
• Person appointed as Officiating Chief of National Green Tribunal - Justice UD Salvi
• This city will host Commonwealth Games in 2022 - Birmingham
• Exercise conducted by Indian Army's Southern Command in Rajasthan - Hamesha Vijayee
• This state decided to beautify and upgrade the 187-year-old Babughat - West Bengal
• This Indian city was ranked 7th in most expensive office locations list as per JLL India Report 2017 - Delhi
• Union Government recently gave environmental clearance for Kaleshwaram Lift Irrigation Scheme in - Telangana
============
• The high court of this state has ordered to cut off electricity, water supplies to the unregistered commercial establishments - Himachal Pradesh
• The 20th Special Representatives level talks are underway between India and this nation – China
• This Indian female cricketer has been selected for both ICC Women's ODI Cricket Team of the Year and ICC Women's T20 International Cricket Team of the Year - Ekta Bisht
• This state’s assembly has passed a stringent bill, UPCOC, which is aimed at curbing organised crime and terror in the state - Uttar Pradesh
• The Union Cabinet on 20 December 2017 approved this new bill that seeks to establish an authority to safeguard consumers' rights - Consumer Protection Bill
• The Union government has imposed a 30 % import duty on these food grains - Chana, Masoor
• Person appointed as Officiating Chief of National Green Tribunal - Justice UD Salvi
• This city will host Commonwealth Games in 2022 - Birmingham
• Exercise conducted by Indian Army's Southern Command in Rajasthan - Hamesha Vijayee
• This state decided to beautify and upgrade the 187-year-old Babughat - West Bengal
• This Indian city was ranked 7th in most expensive office locations list as per JLL India Report 2017 - Delhi
• Union Government recently gave environmental clearance for Kaleshwaram Lift Irrigation Scheme in - Telangana
( 23 Dec)
===============
- ICGS Sujay: Offshore Patrol Vessel commissioned into by Indian Coast Guard
- DARPAN Project launched to improve financial inclusion of Rural Population
- Cabinet approves auctioning of 680 FM channels under Phase III
- The Union Ministry of External Affairs (MEA) has launched SAMEEP (Students and MEA Engagement Program) to take Indian foreign policy to students across the country
- India selected as Chair of Ad Hoc Committee of Kimberley Certification Scheme
- ⭐️ Vijay Rupani Remains Gujarat Chief Minister, Nitin Patel His Deputy
- India-Switzerland Deal Inked for Information Exchange
- ⭐️ India's First design University Opens in Haryana
- ⭐️ Mamang Dai and Ramesh Kuntal Megh Win Sahitya Akademi Award 2017
- Loan Agreement Signed Between India & Germany for Pare Hydroelectric Plant Project
- ⭐️ Salman Khan Tops Forbes India Celebrity List 2017
( ⭐️ 👈🏻 Symbol Shows V-IMP News )
===============
- ICGS Sujay: Offshore Patrol Vessel commissioned into by Indian Coast Guard
- DARPAN Project launched to improve financial inclusion of Rural Population
- Cabinet approves auctioning of 680 FM channels under Phase III
- The Union Ministry of External Affairs (MEA) has launched SAMEEP (Students and MEA Engagement Program) to take Indian foreign policy to students across the country
- India selected as Chair of Ad Hoc Committee of Kimberley Certification Scheme
- ⭐️ Vijay Rupani Remains Gujarat Chief Minister, Nitin Patel His Deputy
- India-Switzerland Deal Inked for Information Exchange
- ⭐️ India's First design University Opens in Haryana
- ⭐️ Mamang Dai and Ramesh Kuntal Megh Win Sahitya Akademi Award 2017
- Loan Agreement Signed Between India & Germany for Pare Hydroelectric Plant Project
- ⭐️ Salman Khan Tops Forbes India Celebrity List 2017
( ⭐️ 👈🏻 Symbol Shows V-IMP News )
✅International Current Affairs
o India has sanctioned $25 million to help develop Myanmar's violence-hit Rakhine State.
o This comes after both nations signed an agreement on restoration of normalcy and development of the Rakhine State.
✅ National Current Affairs
o Today (23rd December) is Kisan Diwas (Farmer's Day).
o This day is observed to celebrate the birthday of Chaudhary Charan Singh, the 5th Prime Minister of India.
o He used to be referred to as the ‘Champion of India’s Peasants’ for his strive for the betterment of farmer’s lives in the country.
o Former Bihar Chief Minister Lalu Prasad Yadav was found guilty in the fodder scam case by a special CBI court in Ranchi today.
o What is this Fodder Scam ?
o Fodder scam is a series of financial irregularities where ₹950 crore was fraudulently withdrawn by Bihar's animal husbandry department by making a false paper trail of fodder, medicines, and equipment purchases.
o The scam was exposed in 1996, leading to Lalu Prasad Yadav's resignation as Bihar CM.
o India has sanctioned $25 million to help develop Myanmar's violence-hit Rakhine State.
o This comes after both nations signed an agreement on restoration of normalcy and development of the Rakhine State.
✅ National Current Affairs
o Today (23rd December) is Kisan Diwas (Farmer's Day).
o This day is observed to celebrate the birthday of Chaudhary Charan Singh, the 5th Prime Minister of India.
o He used to be referred to as the ‘Champion of India’s Peasants’ for his strive for the betterment of farmer’s lives in the country.
o Former Bihar Chief Minister Lalu Prasad Yadav was found guilty in the fodder scam case by a special CBI court in Ranchi today.
o What is this Fodder Scam ?
o Fodder scam is a series of financial irregularities where ₹950 crore was fraudulently withdrawn by Bihar's animal husbandry department by making a false paper trail of fodder, medicines, and equipment purchases.
o The scam was exposed in 1996, leading to Lalu Prasad Yadav's resignation as Bihar CM.
India’s poor performance in GHI and ways to improve position in coming years
As per 2017 Global Hunger Index (GHI) Report, published by the International Food Policy Research Institute (IFPRI), India ranks 100 out 119 countries.
GHI scores are based on four indicators as follows:
Undernourishment: the share of the population that is undernourished (that is, whose caloric intake is insufficient);
Child wasting: the share of children under the age of five who are wasted (that is, who have low weight for their height, reflecting acute under-nutrition);
Child stunting: the share of children under the age of five who are stunted (that is, who have low height for their age, reflecting chronic under-nutrition); and
@UPSC_18
Child mortality: the mortality rate of children under the age of five (in part, a reflection of the mix of inadequate nutrition and unhealthy environments)
Government interventions for tackling the problem of hunger in the country and to improve the position in GHI
Provision of foodgrains at highly subsidized prices to the targeted population through State Governments/ UT Administrations under the Targeted Public Distribution System (TPDS) in terms of National Food Security Act, 2013 and Other Welfare Schemes (OWS) such as Mid-Day Meal Scheme, Integrated Child Development Services (ICDS) Scheme, Rajiv Gandhi Scheme for Empowerment of Adolescent Girls, Annapurna Scheme etc.
National Food Security Act (NFSA), 2013 provides for coverage of up to 70% of the rural and up to 50% of the urban population thus covering about two-thirds of the population, for receiving food grains at highly subsidized prices of Rs.3, 2 and 1 per Kg. for rice, wheat and coarse grain respectively under TPDS
The Act also has a special focus on nutritional support to women and children.
Recently National Nutrition Mission has been approved under MWCD for addressing malnutrition status of the country in a comprehensive manner.
#KARPATHUIAS
As per 2017 Global Hunger Index (GHI) Report, published by the International Food Policy Research Institute (IFPRI), India ranks 100 out 119 countries.
GHI scores are based on four indicators as follows:
Undernourishment: the share of the population that is undernourished (that is, whose caloric intake is insufficient);
Child wasting: the share of children under the age of five who are wasted (that is, who have low weight for their height, reflecting acute under-nutrition);
Child stunting: the share of children under the age of five who are stunted (that is, who have low height for their age, reflecting chronic under-nutrition); and
@UPSC_18
Child mortality: the mortality rate of children under the age of five (in part, a reflection of the mix of inadequate nutrition and unhealthy environments)
Government interventions for tackling the problem of hunger in the country and to improve the position in GHI
Provision of foodgrains at highly subsidized prices to the targeted population through State Governments/ UT Administrations under the Targeted Public Distribution System (TPDS) in terms of National Food Security Act, 2013 and Other Welfare Schemes (OWS) such as Mid-Day Meal Scheme, Integrated Child Development Services (ICDS) Scheme, Rajiv Gandhi Scheme for Empowerment of Adolescent Girls, Annapurna Scheme etc.
National Food Security Act (NFSA), 2013 provides for coverage of up to 70% of the rural and up to 50% of the urban population thus covering about two-thirds of the population, for receiving food grains at highly subsidized prices of Rs.3, 2 and 1 per Kg. for rice, wheat and coarse grain respectively under TPDS
The Act also has a special focus on nutritional support to women and children.
Recently National Nutrition Mission has been approved under MWCD for addressing malnutrition status of the country in a comprehensive manner.
#KARPATHUIAS
Why Do We Say "Merry Christmas" Instead of "Happy Christmas"?
#KARPATHUIAS
As December 25th approaches, we've found ourselves saying "Merry Christmas" to everyone. But have you ever stopped to wonder where the phrase "Merry Christmas" comes from? In a world where it's normal to say "Happy Easter" and "Happy Birthday," the "merry" in "Merry Christmas" is unique. The answer goes back to the connotation of the two words. "Happy" is an emotional condition, while "merry" is a behavior.
Furthermore, happy, which came from the word "hap," meaning luck or chance implies good-fortune. Meanwhile, "merry" implies a more active showing of happiness—which you might think of as merry-making.
#KARPATHUIAS
As December 25th approaches, we've found ourselves saying "Merry Christmas" to everyone. But have you ever stopped to wonder where the phrase "Merry Christmas" comes from? In a world where it's normal to say "Happy Easter" and "Happy Birthday," the "merry" in "Merry Christmas" is unique. The answer goes back to the connotation of the two words. "Happy" is an emotional condition, while "merry" is a behavior.
Furthermore, happy, which came from the word "hap," meaning luck or chance implies good-fortune. Meanwhile, "merry" implies a more active showing of happiness—which you might think of as merry-making.
👍1
COMPANIES ACT, 2013
1. The Rajya Sabha has passed the Companies (Amendment) Bill, 2017 on December 19, 2017 and shall come into force on getting the President’s Assent.
The Companies (Amendment) Bill, 2017 provides for more than 40 amendments to the Companies Act, 2013. A bill to amend the companies law to strengthen corporate governance standards, initiate strict action against defaulting companies and improve ease of doing business in the country.
Among many amendments, members severally liable if falls below the prescribed limit, reservation of name for a new Company shall now be for a period of twenty days from the date of approval and 60 days in case of change of name, simplification of the private placement process, rationalization of provisions related to loan to directors, omission of provisions relating to forward dealing and insider trading, doing away with the requirement of approval of the Central Government for managerial remuneration above prescribed limits, aligning disclosure requirements in the prospectus with the regulations to be made by SEBI, providing for maintenance of register of significant beneficial owners and filing of returns in this regard to the ROC and removal of requirement for annual ratification of appointment or continuance of auditors are few welcome moves.
2. Companies (cost records and audit) Second Amendment Rules, 2017 MCA vide Notification dated 20.12.2017 has amended the companies (cost records and audit) Rules, 2014 and notified the ‘Companies (Cost Records/ Audit) Second Amendment Rules, 2017’. MCA has substituted the words ‘Central Excise Tariff Act (CETA) Heading’ to ‘Customs Tariff Act (CTA) Heading’ in principal rules as well as Form CRA-2, CRA-3 and CRA-4.
RESERVE BANK OF INDIA–IBC, 2016
3.
RBI HAS ISSUED INSTRUCTION FOR SUBMISSION OF FINANCIAL INFORMATION TO INFORMATION UTILITIES (IUs)
The Insolvency and Bankruptcy Board of India (IBBI) has registered National E-Governance Services Limited (NeSL) as the first Information Utilities (IUs) under the IBBI (IUs) Regulations, 2017 on September 25, 2017.
The RBI vide notification dated 19.12.2017 advised all financial creditors regulated by RBI to submit financial information and information relating to assets in relation to which any security interest has been created, to an information utilitis (IUs) in such form and manner as may be specified by regulations.
1. The Rajya Sabha has passed the Companies (Amendment) Bill, 2017 on December 19, 2017 and shall come into force on getting the President’s Assent.
The Companies (Amendment) Bill, 2017 provides for more than 40 amendments to the Companies Act, 2013. A bill to amend the companies law to strengthen corporate governance standards, initiate strict action against defaulting companies and improve ease of doing business in the country.
Among many amendments, members severally liable if falls below the prescribed limit, reservation of name for a new Company shall now be for a period of twenty days from the date of approval and 60 days in case of change of name, simplification of the private placement process, rationalization of provisions related to loan to directors, omission of provisions relating to forward dealing and insider trading, doing away with the requirement of approval of the Central Government for managerial remuneration above prescribed limits, aligning disclosure requirements in the prospectus with the regulations to be made by SEBI, providing for maintenance of register of significant beneficial owners and filing of returns in this regard to the ROC and removal of requirement for annual ratification of appointment or continuance of auditors are few welcome moves.
2. Companies (cost records and audit) Second Amendment Rules, 2017 MCA vide Notification dated 20.12.2017 has amended the companies (cost records and audit) Rules, 2014 and notified the ‘Companies (Cost Records/ Audit) Second Amendment Rules, 2017’. MCA has substituted the words ‘Central Excise Tariff Act (CETA) Heading’ to ‘Customs Tariff Act (CTA) Heading’ in principal rules as well as Form CRA-2, CRA-3 and CRA-4.
RESERVE BANK OF INDIA–IBC, 2016
3.
RBI HAS ISSUED INSTRUCTION FOR SUBMISSION OF FINANCIAL INFORMATION TO INFORMATION UTILITIES (IUs)
The Insolvency and Bankruptcy Board of India (IBBI) has registered National E-Governance Services Limited (NeSL) as the first Information Utilities (IUs) under the IBBI (IUs) Regulations, 2017 on September 25, 2017.
The RBI vide notification dated 19.12.2017 advised all financial creditors regulated by RBI to submit financial information and information relating to assets in relation to which any security interest has been created, to an information utilitis (IUs) in such form and manner as may be specified by regulations.
Israel-Palestine conflict and its effect on India
@UPSC_2018
@UPSC_18
Government sticks to its position
Government on Thursday stuck to New Delhi’s principled position on Palestine followed over the last seven decades
It voted in favour of a resolution at the United Nations General Assembly which opposed and rejected US President Donald Trump’s decision to recognize Jerusalem as Israel’s capital
The 193-member body voted to support the long-standing international consensus that the status of Jerusalem – which is claimed by both Israel and the Palestinians as a capital — can only be settled as an agreed final issue in the Israeli-Palestinian peace process
The resolution
The resolution, co-sponsored by Turkey and Yemen, called Trump’s recognition “null and void” and reaffirmed 10 Security Council resolutions on Jerusalem dating back to 1967
These include requirements that the city’s final status must be decided in direct negotiations between Israel and the Palestinians
It also demands that all states comply with Security Council resolutions regarding the holy city of Jerusalem and not to recognize any actions or measures contrary to those resolutions
Difference despite growing relationship
New Delhi’s “yes” vote comes even as the government’s proximity to Israel and the US has grown
Israel’s Prime Minister is expected to visit India next month and PM Narendra Modi had skipped Palestine during his visit to Israel in July this year
India in dilemma over Isreal-Palestine conflict
New Delhi has, as a norm, always voted in favor of Palestine at the UN
But in July 2015 it abstained from a vote against Israel at the UN Human Rights Council in Geneva
This was seen as a subtle shift in India’s policy towards the Israeli-Palestinian issue
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Government sticks to its position
Government on Thursday stuck to New Delhi’s principled position on Palestine followed over the last seven decades
It voted in favour of a resolution at the United Nations General Assembly which opposed and rejected US President Donald Trump’s decision to recognize Jerusalem as Israel’s capital
The 193-member body voted to support the long-standing international consensus that the status of Jerusalem – which is claimed by both Israel and the Palestinians as a capital — can only be settled as an agreed final issue in the Israeli-Palestinian peace process
The resolution
The resolution, co-sponsored by Turkey and Yemen, called Trump’s recognition “null and void” and reaffirmed 10 Security Council resolutions on Jerusalem dating back to 1967
These include requirements that the city’s final status must be decided in direct negotiations between Israel and the Palestinians
It also demands that all states comply with Security Council resolutions regarding the holy city of Jerusalem and not to recognize any actions or measures contrary to those resolutions
Difference despite growing relationship
New Delhi’s “yes” vote comes even as the government’s proximity to Israel and the US has grown
Israel’s Prime Minister is expected to visit India next month and PM Narendra Modi had skipped Palestine during his visit to Israel in July this year
India in dilemma over Isreal-Palestine conflict
New Delhi has, as a norm, always voted in favor of Palestine at the UN
But in July 2015 it abstained from a vote against Israel at the UN Human Rights Council in Geneva
This was seen as a subtle shift in India’s policy towards the Israeli-Palestinian issue
About the 15th FC
🇮🇳The Commission is to finalise its tax-devolution formula after factoring in the impact on the Union’s fiscal
situation, keeping in mind “the continuing imperative of the national development programme including
New India – 2022” and government’s commitment to compensate states’ loss due to GST.
🇮🇳The commission has also been asked to propose measurable performance-based incentives in areas such
aso
Efforts made by the states in expansion and deepening of the tax net under GST,
o Efforts and progress made in moving towards replacement rate of population growth, which refers to
the total fertility rate that will result in a stable population without increasing or decreasing it.
o Improvement in ease of doing business
o Sanitation
o Reign in populist measures
o Implementation of flagship central schemes and disaster resilient infrastructure
o Progress made in increasing tax/non-tax revenues
o Promoting savings through adoption of direct benefit transfers
o Promoting a digital economy; etc.
Join Soon - t.me/UPSC_2018
🇮🇳The Commission is to finalise its tax-devolution formula after factoring in the impact on the Union’s fiscal
situation, keeping in mind “the continuing imperative of the national development programme including
New India – 2022” and government’s commitment to compensate states’ loss due to GST.
🇮🇳The commission has also been asked to propose measurable performance-based incentives in areas such
aso
Efforts made by the states in expansion and deepening of the tax net under GST,
o Efforts and progress made in moving towards replacement rate of population growth, which refers to
the total fertility rate that will result in a stable population without increasing or decreasing it.
o Improvement in ease of doing business
o Sanitation
o Reign in populist measures
o Implementation of flagship central schemes and disaster resilient infrastructure
o Progress made in increasing tax/non-tax revenues
o Promoting savings through adoption of direct benefit transfers
o Promoting a digital economy; etc.
Join Soon - t.me/UPSC_2018
Telegram
Dr. Ashok Sharma
About Gavi, the Vaccine Alliance
@UPSC_2018
@UPSC_18
Created in 2000, Gavi is an international organisation - a global Vaccine Alliance, bringing together public and private sectors with the shared goal of creating equal access to new and underused vaccines for children living in the world’s poorest countries.
Advance Market Commitment for vaccines (AMC) is an innovative funding mechanism
The pilot Advance Market Commitment (AMC) offers a legally binding commitment to support the market of targeted pneumococcal vaccines with US$ 1.5 billion
Not United Nations👍 NOT WHO👍
World Health Organisation declares Sri Lanka malaria-free
Sri Lanka is the second country in the WHO South-East Asia Region to eliminate malaria after Maldives.
@UPSC_2018
@UPSC_18
Created in 2000, Gavi is an international organisation - a global Vaccine Alliance, bringing together public and private sectors with the shared goal of creating equal access to new and underused vaccines for children living in the world’s poorest countries.
Advance Market Commitment for vaccines (AMC) is an innovative funding mechanism
The pilot Advance Market Commitment (AMC) offers a legally binding commitment to support the market of targeted pneumococcal vaccines with US$ 1.5 billion
Not United Nations👍 NOT WHO👍
World Health Organisation declares Sri Lanka malaria-free
Sri Lanka is the second country in the WHO South-East Asia Region to eliminate malaria after Maldives.
Addressing Diphtheria
#KARPATHUIAS
@UPSC_18
What is the issue?
1) Diphtheria is rapidly spreading in south Indian states affecting many children due to lowering vaccination coverage.
2) India needs a better vaccination and awareness program to address lowering vaccination coverage.
What is Diphtheria?
1) Diphtheria is a highly infectious disease, which usually shows up as a sore throat and difficulty in breathing.
2) It spreads through contact or cough and sneeze droplets, and is caused by the bacterium Corynebacterium diphtheriae.
3) In severe cases, the toxin secreted by this bacterium kills cells in the throat.
4) If the patient isn’t treated the toxin can spread through the bloodstream hurting the heart and kidneys.
What is the status of the disease in India?
1) India has had a diphtheria vaccination programme since the 1980s.
2) Yet India continues to be a world leader in diphtheria today, with 3,380 cases and 177 deaths reported in 2016.
3) This year has seen worrying outbreaks in Karnataka, Kerala and Telangana, among other States.
4) Diphtheria is increasingly infecting adolescents and adults in India, though it was historically an illness of children under five.
What are the reasons behind the growing disease in India?
1) Under the Universal Immunization Programme (UIP), all children below one year of age are supposed to get three doses of the Diphtheria-Tetanus-Pertussis (DTP) vaccine.
2) It is followed by two booster doses between 1-2 years and 5-6 years.
3) But coverage of the three primary doses is inadequate at 80% across the country and there is no vaccination for grown-ups.
4) Data on coverage with the two booster doses is patchy, with one study showing poor rates of around 60% and 36% for each dose, respectively, in 2006.
What are the reasons behind lower vaccination coverage?
1) Usually lower vaccination coverage is triggered by an ill-advised change in vaccination schedules and socio-economic instability among the population.
2) A review from Chennai’s National Institute of Epidemiology found low rates of vaccination among Muslim communities, one of the reasons driving outbreaks in States like Andhra Pradesh.
3) Kerala despite its high vaccination rates, has susceptible pockets for the same reason.
4) This because there are anti-vaccination sentiments seeded by few Islamic clerics in this regions.
Source : The Hindu
#KARPATHUIAS
@UPSC_18
What is the issue?
1) Diphtheria is rapidly spreading in south Indian states affecting many children due to lowering vaccination coverage.
2) India needs a better vaccination and awareness program to address lowering vaccination coverage.
What is Diphtheria?
1) Diphtheria is a highly infectious disease, which usually shows up as a sore throat and difficulty in breathing.
2) It spreads through contact or cough and sneeze droplets, and is caused by the bacterium Corynebacterium diphtheriae.
3) In severe cases, the toxin secreted by this bacterium kills cells in the throat.
4) If the patient isn’t treated the toxin can spread through the bloodstream hurting the heart and kidneys.
What is the status of the disease in India?
1) India has had a diphtheria vaccination programme since the 1980s.
2) Yet India continues to be a world leader in diphtheria today, with 3,380 cases and 177 deaths reported in 2016.
3) This year has seen worrying outbreaks in Karnataka, Kerala and Telangana, among other States.
4) Diphtheria is increasingly infecting adolescents and adults in India, though it was historically an illness of children under five.
What are the reasons behind the growing disease in India?
1) Under the Universal Immunization Programme (UIP), all children below one year of age are supposed to get three doses of the Diphtheria-Tetanus-Pertussis (DTP) vaccine.
2) It is followed by two booster doses between 1-2 years and 5-6 years.
3) But coverage of the three primary doses is inadequate at 80% across the country and there is no vaccination for grown-ups.
4) Data on coverage with the two booster doses is patchy, with one study showing poor rates of around 60% and 36% for each dose, respectively, in 2006.
What are the reasons behind lower vaccination coverage?
1) Usually lower vaccination coverage is triggered by an ill-advised change in vaccination schedules and socio-economic instability among the population.
2) A review from Chennai’s National Institute of Epidemiology found low rates of vaccination among Muslim communities, one of the reasons driving outbreaks in States like Andhra Pradesh.
3) Kerala despite its high vaccination rates, has susceptible pockets for the same reason.
4) This because there are anti-vaccination sentiments seeded by few Islamic clerics in this regions.
Source : The Hindu
India-Turkey Relationship
Facts:
#KARPATHUIAS
(1). Current bilateral Trade is about $6.4 Billion
(2). Target is $10 Billion for 2020
(3). Turkish President visited India in May 2017
Current Status of Turkey:
(1). A recent referendum gave Turkish President sweeping executive powers giving rise to fears about a lack of adequate safeguards for democratic rights in Turkey.
(2). President is using Islam to shore up his credibility
Turkish stance on Indian issues:
(1). Turkey supports “multilateral dialogue” on Kashmir and offers to mediate between India and Pakistan. Thus, it is against India's stance of Kashmir being a bilateral issue.
(2). Turkey supports Organisation of Islamic Cooperation’s position on Kashmir which is again anti-India
(3). On India’s entry into the Nuclear Suppliers Group, the Turkish stance has been to push for Pakistan’s case along with India’s.
(4). Turkey supports India’s bid for a permanent seat in the United Nations Security Council. But, Turkey is a member of the group called Uniting for Consensus which opposes expansion of permanent membership in the Security Council. And this group includes Pakistan
Scope in Future:
(1). Focus should be Trade and Economic ties.
(2). Turkey needs new market as Europe is not welcoming Turkey.
(3). The two nations are also exploring cooperation in areas such as construction, infrastructure development, renewable energy, and tourism.
Facts:
#KARPATHUIAS
(1). Current bilateral Trade is about $6.4 Billion
(2). Target is $10 Billion for 2020
(3). Turkish President visited India in May 2017
Current Status of Turkey:
(1). A recent referendum gave Turkish President sweeping executive powers giving rise to fears about a lack of adequate safeguards for democratic rights in Turkey.
(2). President is using Islam to shore up his credibility
Turkish stance on Indian issues:
(1). Turkey supports “multilateral dialogue” on Kashmir and offers to mediate between India and Pakistan. Thus, it is against India's stance of Kashmir being a bilateral issue.
(2). Turkey supports Organisation of Islamic Cooperation’s position on Kashmir which is again anti-India
(3). On India’s entry into the Nuclear Suppliers Group, the Turkish stance has been to push for Pakistan’s case along with India’s.
(4). Turkey supports India’s bid for a permanent seat in the United Nations Security Council. But, Turkey is a member of the group called Uniting for Consensus which opposes expansion of permanent membership in the Security Council. And this group includes Pakistan
Scope in Future:
(1). Focus should be Trade and Economic ties.
(2). Turkey needs new market as Europe is not welcoming Turkey.
(3). The two nations are also exploring cooperation in areas such as construction, infrastructure development, renewable energy, and tourism.
Seaweed Farming
What is seaweed cultivation?
#KARPATHUIAS
Seaweed farming is the practice of cultivating and harvesting seaweed. In its simplest form, it consists of the management of naturally found batches. In its most advanced form, it consists of fully controlling the life cycle of the algae.
Some Facts:
(1). It gained prominence during 13th century, after the discovery of agar-agar in Japan and Alginic Acid in European continent.
(2). It is considered as the medicinal food of the 21st century.
(3). Many seaweeds are rich in vitamins and minerals and are eaten in various parts of the world.
(4). China produces over half of the world’s seaweed harvest and Indonesia 27% of world production.
(5). Most of that seaweed ends up in our food, though there is a growing market in seaweed-based cosmetics and drugs.
Seaweed cultivation in India:
In India, agar-agar gained importance as seaweed chemicals during the Second World War. After the advent of Central Salt and Marine Chemical Research Institute (CSMCRI), commercial technologies for agar-agar, alginic acid, Carrageenan and LSF, the importance of seaweed wealth on Indian coast especially South Indian coast has been greatly realised. Consequently, a systematic study on seaweed resources assessment in South Indian coast has been carried out jointly by Central Salt and Marine Chemicals Research Institute and Central Marine Fisheries Institute and the Department of Fisheries, Government of Tamil Nadu.
The surveys conducted in this connection revealed the vast hidden wealth of seaweeds from this region which has a great bearing on the future of seaweed based industries in India.
What is seaweed cultivation?
#KARPATHUIAS
Seaweed farming is the practice of cultivating and harvesting seaweed. In its simplest form, it consists of the management of naturally found batches. In its most advanced form, it consists of fully controlling the life cycle of the algae.
Some Facts:
(1). It gained prominence during 13th century, after the discovery of agar-agar in Japan and Alginic Acid in European continent.
(2). It is considered as the medicinal food of the 21st century.
(3). Many seaweeds are rich in vitamins and minerals and are eaten in various parts of the world.
(4). China produces over half of the world’s seaweed harvest and Indonesia 27% of world production.
(5). Most of that seaweed ends up in our food, though there is a growing market in seaweed-based cosmetics and drugs.
Seaweed cultivation in India:
In India, agar-agar gained importance as seaweed chemicals during the Second World War. After the advent of Central Salt and Marine Chemical Research Institute (CSMCRI), commercial technologies for agar-agar, alginic acid, Carrageenan and LSF, the importance of seaweed wealth on Indian coast especially South Indian coast has been greatly realised. Consequently, a systematic study on seaweed resources assessment in South Indian coast has been carried out jointly by Central Salt and Marine Chemicals Research Institute and Central Marine Fisheries Institute and the Department of Fisheries, Government of Tamil Nadu.
The surveys conducted in this connection revealed the vast hidden wealth of seaweeds from this region which has a great bearing on the future of seaweed based industries in India.
Heat Waves
#KARPATHUIAS
(1). Heat wave is a period of abnormally high temperatures (more than the normal maximum temperature) during summer months.
(2). It is predominantly prevalent in North-western parts of India during March-June. In some parts, it extends up to July.
(3). The Indian Meteorological Department (IMD) has underlined the following criteria for heat waves:
* Heat wave is not to be considered till the temperature of a station reaches at least 40°C (for plains) and 30°C (for hilly regions).
* When normal maximum temperature of a station is less than or equal to 40°C , then a departure of 5 to 6 degrees from the normal is to be considered heat wave while a departure of 7 degrees is to be considered severe heat wave.
* When normal maximum temperature of a station is more than 40°C then a departure of 4 to 5 degrees from the normal is to be considered heat wave while a departure of 6 degrees is to be considered severe heat wave.
* In case the normal temperature of station is more than 45°C then heat wave is to be declared irrespective.
(4). Heat waves often lead to dehydration, stress, heat exhaustion and sometimes a fatal heat stroke as well.
#KARPATHUIAS
(1). Heat wave is a period of abnormally high temperatures (more than the normal maximum temperature) during summer months.
(2). It is predominantly prevalent in North-western parts of India during March-June. In some parts, it extends up to July.
(3). The Indian Meteorological Department (IMD) has underlined the following criteria for heat waves:
* Heat wave is not to be considered till the temperature of a station reaches at least 40°C (for plains) and 30°C (for hilly regions).
* When normal maximum temperature of a station is less than or equal to 40°C , then a departure of 5 to 6 degrees from the normal is to be considered heat wave while a departure of 7 degrees is to be considered severe heat wave.
* When normal maximum temperature of a station is more than 40°C then a departure of 4 to 5 degrees from the normal is to be considered heat wave while a departure of 6 degrees is to be considered severe heat wave.
* In case the normal temperature of station is more than 45°C then heat wave is to be declared irrespective.
(4). Heat waves often lead to dehydration, stress, heat exhaustion and sometimes a fatal heat stroke as well.