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HINDI EDITORIAL ANALYSIS OF NEWSPAPERS I IN LESS THAN 10 MIN UTE Presented BY Deepanstau Sn 24h January,2017 anuarY, 201 chrome
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EDITORIALS COVERED IN TODAY'S LESSON The Hindu o THE PRICE OF FISCAL FOLLY o GLOBALISATION'S NEW SPOKESMAN OUR DEMOCRATIC DEFICIT Indian Express o RECLAIMING THE GULF Livemint o THE PROBLEM WITH XI INPING'S DAVOS PITCH WITH XI JINPINC'S DAvoS
QUESTION FOR ANSWER WRITING PRACTICE Q: Discuss India's recent advances on the space front. Should commercialization of India's space programme be promoted? discuss More > [Course] January 2017 Editorial Analysis of The Hindu and Other Major Newspapers m Test Preparation UPSC AAS (Hindi) January 2017 Editorial Analysis of The Hindu... 17 11d January 2017- Editorial Analysis of The Hindu and Other Major The course w bring you in-depth analysis of important edtorats trom leadng newspapers ike The Hindu, Indian Express Livemint esc which are relevant for Pinned Topics Government examinations These w heip you in your Mans as well as prems preparation About Us Careers Terms Prvacy Contact Us Twitter Facebook created steeply 113 379 21 48 1 Frequent Posters
READ- OTHER INTERESTING ARTICLES o The Hindu- Art outside comfort zones (GS-1) for art and culture section
TH: THE PRICE OF FISCAL FOLLY GS-3 With the annual Budget of the Central government to be presented soon- two major concerns-One concerns borrowing by the government while the other amounts to a proposal on how best the government should allocate its expenditure. o RBI Gov.- the government should desist from borrowing even more and pre-empting resources from future generations." o How Govt. Spending pays?- directly or indirectly, every expenditure will serve as a draught on today's resources, i.e, labour and capital equipment-equally true of public and private expenditure. o But why should this ever amount to pre-empting resources from future generations? Unlike natural capital, these resources are man-made, and expenditure can actually create more of them. These newly-minted resources are inherited by future generations who far from being short-changed are left with more income-earning assets (Are not at least some sections of India better off now that in the 1950s the Government of India had borrowed to build housing?) o Then what is the major concern?- a rise in public spending raises the interest rate faced by the private sector. -But, this can be simply and effectively dealt with through monetary policy-similar to 'Quantitative easing, in USA Further-it leads to a 'crowding in, whereby the demand generated by government spending expands the market for private investors, raising the level of economic activity today and even in the future. o So, the assertion that greater public spending would crowd out private investment is based jointly on a refusal to accept accommodating monetary policy as valid and the assumption that the economy is at full employment
TH: THE PRICE OF FISCAL FOLLY GS-3 o Second issue-the case has been made for the provision by government of a universal basic income (UBI) o Thus the economist Vijay Joshi has in his book, India's Long Road, proposed that every citizen be given an income transfer equivalent to what is needed to raise those currently deemed poor to above the official poverty line. would involve a transfer of 3,500 per capita per annum. o It's not feasible as of now- The welfarism that it implies is neither socialist nor democratic- It is distinctly at odds with Karl Marx's vision of a decent society as one which draws from each according to their abilities (and gives) to each according to their needs" o Subsidies cannot replace public investment-the capital formation that it entails benefits future generations by enhancing the productive capacity of the economy Once everyone has been given a certain amount of income under the auspices of the state, it gets absolved of all responsibility for providing these goods and services which the private sector has no incentive to provide o Importance of public goods- a significant part of what we require for a dignified and convivial existence are public goods which would have to built by the state. o Public borrowing is not necessarily bad but borrowing to distribute for consumption is to be guarded against. o Most important lesson comes from India itself.-Jawaharlal Nehru to remark in Parliament, in response to a no- confidence motion against his government,-" We have always to choose between benefits accruing today, or tomorrow, or the day after From the country's point of view, if we spend the money we now have for some pett immediate benefits, there will not be any permanent benefit.
IE: RECLAIMING THE GULF GS-2 The crown prince of Abu Dhabi, Sheikh Mohammed bin Zayed Al Nahyan, will arrive in Delhi as the chief guest at the Republic Day celebrations this week- He will only be the third leader in 70 years from the Middle East to grace the occasion o Since proclamation of India's Look East " policy, India had invited many Asian leaders to Republic day celebrations but the president of Iran, Mohammed Khatami very few from Middle East-India had hosted only two other leaders (2003), and King Abdullah of Saudi Arabia (2006) o Engagement with Middle East- No other region outside of the subcontinent is so critical for India's security and prosperity than the Middle East Visit of Crown Prince of Abu Dhabi Sheikh Muhammad bin Zayed Al Nahyan will mark a change in New Delhi's mindset and help consolidate third phase in India's engagement in Middle East. He would also be signing strategic partnership agreement. In the first phase, India's emphasis was on anti-Western and anti-Israel solidarity with the Middle East-This had twin purpose. First, it halted influence of Pakistan due to its religious proximity with region and earned goodwill among disparate Middle East nations. o Second, it provided diplomatic capability to come in terms with many other It prevented India from coming to terms between republics and monarchies, conservative regimes and radical with the many other contradictions of the region Islamists, Shia and Sunni, etc.
IE: RECLAIMING THE GULF GS-2 o Dimantlement- Delhi's emphasis on self-reliance saw the dismantlement of the strong economic links that emerged between the undivided subcontinent and the Middle East through the 19th century o The oil boom in the Gulf saw the dramatic expansion of India's interdependence region - through labour exports and ped in building on this interdependence in the first phase energy imports-Delhi, however, was ill-equip As it emphasised non-alignment and opposed military alliances, independent India discarded the Raj legacy of providing security to many regimes in the Gulf and the greater Middle East. o Second phase started with normalizing of diplomatic relations with Israel without sacrificing relation with Middle East. It thus exhibited pragmatic approach to Middle East. This phase saw military exchanges and security cooperation with countries of region, thus moving away from mercantile approach of previous phase. But no concrete and bold military partnership could flourish. o Third phase had been initiated by PM Modi by devoting much of its energy to gulf states-aims to protect and promote our security interests, nurture strong economic and energy ties, and advance material and social welfare of 8 million Indians. o Saudi Arabia, UAE, Qatar, Iran stands at centre-stage of this phase. Amidst shifting of internal and external balance of power in Middle East ,region is eager to see India's return as major economic and security partner. Given declining economic interest of USA in region, this region wants an economic partner to continue pumping oil. 0 o Arrival of Crown Prince of Abu Dhabi marks new era of cooperation between India and gulf countries
Mint: The problem with Xi Jinping's Davos pitch GS-2 o What this article is about? of China is to become a free trade champion, it must first deal with several challenges o "Pursuing protectionism is just like locking one's self in a dark room. Wind and rain may be kept outside, but so are light and air." to look towards China for leading the world trade Why this statement? o under Donald Trump, the US may well turn inward and abandon its global economic leadership role, leaving a vacuum that Xi's China is looking to fill o But to fulfil that vacuum, China has to counter many challenges? -1, state subsidies, zombie companies and oversupply Beijing excessively used state-owned enterprises (SOEs) as agents of state policy. Chinese banks threw loans at them that were used for irrational capital expenditure, creating housing and infrastructure bubbles, as well as seeding the steel oversupply problem that has become a trade flashpoint over the past few vears. The solution is the same tough-minded reforms initiated in the late 1990s when Beijing had reformed SOEs aggressively for almost a decade. But that would mean layoffs numbering in the millions. o o But instead of shutting down SOEs or privatizing them, Beijing is taking the merger route instead but the problem of oversupply and subsidies.
TH: OUR DEMOCRATIC DEFICIT GS-2 o But it was American Constitution that done away with "Classwarfare Constitution " and presented Middle Class Constitution". In this setup there was no specific restriction that who belonged to which part of government. Poor could enter Upper House, rich seated in Lower House. This was possible because of history of America is devoid of any feudal or aristocratic class and in 1770, America was relatively egalitarian (free white men could vote) o Middle class Constitution applies to India to where irrespective of anyone's class precedent one could enter either house. A well-functioning middle class" constitution relies on relative equality in income and accessibility to s for self-improvement. This allows for a homogeneity in end goals and policies. o After Oxfam report, it is proved that an egalitarian system is eroded and need of hour is to balance the interest of ich and poor in government thus nullifying value middle class Constitution. Poor is unequal not only in income but also on power indicators. Inequality of power make our democratic framework at peril. o The strategically extremist positions that result in constitutional gridlocks will corrode the efficacy and originary promise of a 'middle class' constitution- the dignity of man.