DAILY SUMMARY AND ANALYSIS OF hat conidence n The billionsire Mr Bentusconl whe boastad earlier yetealay that markets trast hitm because he sa tyeiont, told trowth nade in New withtheonwetct igitot 2 TH SEPTEMBERo AMIT BAGHE
ABOUT ME EDUCATOR AT UNACADEMY SINCE JUNE,2017 KNOWLEDGE IS POWER . Computer science graduate from JIIT,Noida Work experience of 2+ years in MNC Published app developer, writer by passion Interest: Music,reading non fiction and watching good tv series Follow me for my other courses: https://unacademy.com/userAmitBaghel
Sept 12, 2017 OPINION Why the Phillips curve does not work . Phillips, it states that there is an inverse relationship between inflation and unemployment in any economy. Inflation . The underlying logic behind the Phillips curve is that wages are quite "sticky", or inflexible, in a market economy, so unemployment is bound to shoot up whenever workers refuse to accept lower wages. Phillips Curve Unemployment Central bank chiefs thus keep a very close eye on Fig1 Philips curve inflation and unemployment data of the overal economy to plan monetary policy accordingly
CONTD.. . Whenever inflation is too low and unemployment too high, central banks increase the money supply to encourage greater employment When this causes inflation to shoot up too high, they reduce the money supply, which results in lower inflation but also slightly higher unemployment. Theory against the Phillips curve - A 2017 paper however, argues that central bankers may be using the wrong economic model to frame . The authors argue that there is no real trade-off between inflation and unemployment, as assumed by . The stagflation of the 1970s proved quite convincingly that high unemployment and high inflation can . Also, wages may not be as rigid as many economists assume, which means that they could adjust policy. generations of economists, as models based on the Phillips curve have a poor forecasting record. very well co-exist. downward quite comfortably in many cases. Lastly, loose monetary policy, apart from ramping up inflation, often also causes structural distortions in the economy which lead to higher unemployment.
Sept 12, 2017 NEWS Aviation, Home Ministries spar over regulating drones . In April 2016, the DGCA had proposed detailed Who let the drones out? A look at how the restriction on the use of drones has guidelines for civilian use of drones. . The DGCA had proposed that drone users would have become a bone of contention to obtain its permission and get a unique identificaion April 2016 DGCA issues number for each drone. draft guidelines for regulating unmanned aircraft system, commonly known as drones May 2016- Dec. 2016 Ministry of Home Affairs . The user was also required to get security clearance from the Bureau of Civil Aviation and all drone operations over 200 feet would require the DGCA's holds various rounds of nod. discusslons and ralses objections against the DGCA guidelines . However, the MHA had raised some objections to August 2017: MHA Sept.2017: Ministry of Civil DGCAs draft, saying anti-UAV technology to detect and circulates a draft law Aviation advises MHA that neutralise the threats from a hostile drone is also for inter-ministerial consultatons to regulate drones of all aircraft, including drones, and Ucensing them are the domain of the DGCA required.
CONTD . The Ministry of Civil Aviation (MoCA) has raised a few objections over the Home Ministry's bid to frame a new law to regulate unmanned aircraft systems (UAS), loosely referred to as drones. The Ministry of Civil Aviation (MoCA) View . Licensing and safety of all aircraft - manned or unmanned- was their domain, Home Ministry View . The DGCA has the capacity to detect aircraft of a particular size and [iwhichl fly at a certain altitude. It has radars to detect their presence. The unmanned objects, if they fly low, cannot be detected by any radar. It has security and privacy issues. Recently, the Home Ministry circulated a draft law to regulate the low flying objects, for inter-ministerial consultations.
Sept 12, 2017 NEWS Parties call for hybrid electoral system . The Standing Committee on Personnel, Public Grievances, Law and Justice, headed by Congress leader Anand Sharma is deliberating on electoral reforms. Background -Uttar Pradesh Assembly elections held in March this year where the BJP which got 39 per cent of the vote share but won 312 seats, while the Samajwadi Party with 21.8 per cent votes got 47 seats and the Bahujan Samaj Party with 22.2 per cent got 19 seats. . The Congress, the Nationalist Congress Party, the Communist Party of India (Marxist) and the Communist Party of India have told a Parliamentary panel that the existing first-past-the-post-system needs to be replaced with a hybrid format (having both proportional representation and first-past- the-post )where elections for a small number of seats are through proportional representation. . No ruling party had ever got 51 per cent of the votes polled. "Minority democracy" has been ruling the country since independence.
CONTD Recommendations of the Law Commission's 170th and 255th report - A mix of both first-past-the-post and proportional representation should be tried. Both the reports have suggested that 25% or 136 more seats should be added to the present Lok Sabha and be filed by Proportional Representation Why do we need change? . The "majority aspirations" and the "actual will of the people" is not getting reflected in election results. . First-past-the-post system had worked well in the beginning because there was one party, the Indian -But now because of a division of votes, a party with even 20% share does not get a single seat, while a . Suggestion of a dual system where separate votes for a candidate and a party could be considered. This National Congress. The voting percentage was also very high. party with 28% can get disproportionately large number of seats system is followed by various European countrie:s. Other views . Present system of election was fine and that proportional represenation was not workable as it will promote interest groups
Sept 12, 2017 NEWS Centre will respect J&K's special status, . Home Minister Rajnath Singh said that the Centre would not go against peoples sentiments on Article 35A, which grants special rights to locals on property and jobs Article 35A has been challenged througlh three petitions in the Supreme Court, which will again hear them in November. . The Centre is ready to hold talks with anyone and inviting everyone willing to help us in resolving the problems of Kashmir.
Sept 12, 2017 NEWS No plan yet to deport Rohingya, says Kiren Rijiju Mr. Ryyu, while reacting to United Nations High Commissioner for Human Rights, said that the government had not yet firmed up a plan to deport Rohingya, and had only asked the State governments to identify illegal immigrants and initiate action under established procedure India gave "utmost importance to humanitarian concerns and has always accepted refugees" Background .He was reacting to United Nations High Commissioner for Human Rights Zeid Ra'ad Al Hussein's statement that "India cannot carry out collective expulsions, or return people to a place where they risk torture or other serious violations".
Sept 12, 2017 NEWS Ahmedabad-Mumbai bullet train Overvievw This Mumbai - Ahmedabad High Speed Rail (MAHSR) project (popularly known as the Ahmedabad-Mumbai bullet train)is a visionary project defined as Railway Systems Running Trains at Speeds in excess of 250 kmph. Presently, available in 15 countries . All-out efforts will be made to complete it by 15th August 2022 Low Cost,High Speed repayment period 50 years-including grace period of 15 years such favourable terms. hmedabad to Mum 81% of the project cost by Japanese soft loan at 0.1%per annum with Bullet Train Project . First time in India that an infrastructure project is being funded under
CONTD.. Project Comes with technical support and handholding of the Japanese-will ensure complete transfer of know-how to Indians for future projects. . High Speed Rail Training Institute at Vadodara to train 4,000 staff for operations and maintenance. Boost to Economy & Employment . 4,000 direct employment for operations and 20,000 indirect jobs too. . Boost To Urban And Industrial Development Along The corridor. Capacity building for other high speed projects.
UPSC 2018 mains; Doing 'The Hindu Newspaper Analysis' since June,2017. YouTube- Gurukul Prime.