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EDITORIAL ANALYSIS OF NEWSPAPERS IN LESSTHAN 10 MINUTES i5th January,2017 resented E shu chrome
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UNACADEMY DISCUSS Answer writing practice 15th Jan 2017 Test Preparation UPSCIAS answerwritingmains2017 uli Roman Saini D 10m Please write the answers to the following 3 questions. I will like the best answers and will comment on what improvement is needed 1. Do you think that the recent judgements of Courts in India are amounting to Judicial overreach and are interfering with the individual's religious and cultural rights? Critically analyse in light of the recent cases of Jalikattu and temple entry movements their implications on recent issues such as CWG, 2G, Agusta-Westland and KG basin. focus the recent Supreme Court Judgement. 2. (GS-2) What are the powers and functions of Public Accounts Committee? Discuss its key findings and 3. What is the mandate of Section 123 of the Representation of the People Act? Explain while keeping in Please start answering.
QUESTIONS FOR ANSWER WRITING PRACTICE Discuss the various functions of Pressure groups while commenting their role on healthy democratic system. Use Unacademy Discuss sit to answer the daily practice questions from now on.
EDITORIALS COVERED IN TODAY'S LESSON Indian Express *Across the aisle Prepare for slow down India, Out of my mind: The coming war PW Time for a Neo-Tobin Tax
EPW: TIME FOR A NEO-TOBIN TAX GS-3 The underdevelopment of the domestic capital markets warrants further attention. Low Pvt. Investment in infrastructure funding. In order for capital markets to contribute significantly, funds would need to be locked in for a long period, something that foreign institutional investors (FIIs) would normally be averse to (what Former RBI Gov. Raghuram Rajan suggested) o Why Implementation is challenging- since such a limitation might have a tendency to simmer down the bullish sentiment, and the policy might end up being counterproductive- seem more prudent to use price policies instead of quantitative restrictions- Tobin Tax can be a useful mechanism. o Thus, according to Tobin, if an international consensus could be reached wherein each country was to levy a certain tax o Proponents state that the tax would help stabilize currency and interest rates because many countries' central banks do o Former RBI Governor, Y V Reddy lays stress on the Tobin tax and how it might be conducive to the Indian scenario. The idea behind the tax was to discourage substantial speculative behaviour. that would discourage volatile capital inflows, economies would be far less susceptible to fickle investor sentiment. not have the cash in reserve that would be needed to balance a currency selloff. o Globally the result has been ambiguous- Thailand, Colombia and Chile have not produced any substantial results, similarly for Brazil and Sweden. o Malaysia stands as the only country where the desired results were obtained and that too owing to the substantial stress that its public policy had put on the implementation of the same
EPW: TIME FOR A NEO-TOBIN TAX GS-3 o What needs to be done- a structure that levies a substantially high tax rate on short-term capital gains than in the long term. o Holders of participatory notes (P-notes) ought to be kept on a position that is in parity with other investors such that they are not given undue advantage. This would also provide substantial scope for preventing round-tripping of money through tax havens and generation of new black money. o Levying of a neo-Tobin tax on certain segments of the financial sector may do more good than harm-Could go a long way in bringing sound, long-term capital into the economy, thus broadening the horizon for an underdeveloped bond market and hence, ensuring further pervasion of the same into key sectors
ACROSS THE AISLE: PREPARE FOR SLOW DOWN INDIA GS-3 o There are four engines of growth: government expenditure, private consumption, private investment and exports o Two of the engines-private investment and exports-have languished for many months o Since November 8, 2016, however, private consumption has taken a severe blow, thanks to demonetisation. The only engine that appeared to be running was government expenditure o Slowdown of the Economy- Central Statistics Office (CSO) released the advance estimate of GDP for 2016-17- slow down from 7.56 per cent in 2015-16 to 7.09 in 2016-17- However expected- GDP will take a hit of at least 1 per cent in 2016-17 -that is a loss to the economy of Rs 1,50,000 crore- estimates in the upcoming budget. investments in the economy-CSO estimates that GFCF will decline by 0.2 per cent in 2016-17, and is unlikely to grow in o CSO and FM by denying its impact by stating increase in tax revenues- thus preparing a ground for aggressive revised o Engine of Investment- The critical number is Gross Fixed Capital Formation (GFCF), which is a measure of future- spillover of demonetization. (Jan-March 5.35 -1.90, Apr-June 7.11-3.10 ,July-Sep 9.70 -5.59) o net fixed assets of corporates have shrunk across all major categories of sectors o Other dismal Indicators- FPI turned negative, credit growth has plummeted to an all-time low, PMI, Manufacturing index etc. o What this means for the common people- fewer jobs, more layoffs or retrenchment, low growth in incomes, and fewer people lifted out of poverty
IE: OUT OF MY MIND: THE COMING WAR GS-2 o With Donald Trump taking charge as the New President of United States of America, what can be expected in the arena of International relations Trump-Modi-Both Won the elections, when actually no one expected them to as they both were kind of an Outsider. o They are both nationalists but there is one big difference. Modi wants to take India to the top. Trump is worried that America has slipped from its top position- Make America great again! Synergy between the two-will work in International Relations-America, Russia, China and India-It is seriously likely that the coming years will see a heightening of tensions among the four. o There is an implicit understanding that India and America will stand together. o Trump has singled out China as the major economic problem for America. Russia, on the other hand, has no problems with China. o India and Russia have been allies for decades. Trump has expressed admiration for Vladimir Putin o Worst Case scenario-It is America and India against China. Russia may stand aside from this confrontation o If there is an actual military conflict, it will be across the India-China border and in the South China Sea o Trump- took the unusual step of being friendly with the President of Taiwan. It took America 25 years before it recognised the People's Republic of China as the legitimate power rather than Taiwan.-he was tweaking China's tail. o Rising risk of a military conflict-with South Asia being the center of conflict