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26th July 2017 Part-2: Daily News Analysis
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Daily News Analysis- China's Belt & Road initiative explained

Jatin Verma is teaching live on Unacademy Plus

Jatin Verma
Have appeared in UPSC CSE thrice. Have been taking Unacademy Plus courses Academics- Polity, Economics & Current Affairs.

U
Unacademy user
One of the best series! Keep it up sir! :)
Ankur Raj Soni
2 years ago
Thank you so much :)
Bombay club - Once the economy was liberalised 20 years ago and the floodgates were thrown open to multinational corporations, a group of Indian businessmen got together to lobby the government for protection. Multinational corporations, they argued, were ages ahead of them in terms of production efficiencies, technology, marketing shenanigans and financial firepower; so there was no way they would be able to survive the onslaught. Import duties, they alleged, were being brought down very steeply, without any reform in the domestic tax structure. It was the beginning, the worst pessimists among them said, of the second wave of colonisation, and Indian businessmen should count their days on their fingers. They, therefore, demanded from the government a level playing field vis-à-vis the foreigners. They were the Bombay Club. On November 10, 1993, eight industrialists – Lala Bharat Ram, Lalit Mohan Thapar, Hari Shankar Singhania, M V Arunachalam, B K Modi, C K Birla, Rahul Bajaj and Jamshyd Godrej – handed over a note to this effect to Dr Manmohan Singh, the then finance minister. The note welcomed competition in the market but urged the government to take steps “to enable them [Indian businesses] to play their rightful role in the industrial development of the countr
Puneet Wadhwa
2 years ago
thanx
Aishwarya Mishra
2 years ago
welcome ..:) Jatin sir asked to answer it ..so I did it ... that's all....
Sarwan Singh
2 years ago
bombay plan kya tha?!
Aishwarya Mishra
2 years ago
Bombay Plan is set of proposals for the development of the post-independence economy of India. The plan, published in 1944/1945 by eight leading Indian industrialists, proposed state intervention in the economic development of the nation.The signatories of the Plan were Jamshedji Ratanji Dadabhoy Tata, Ghanshyam Das Birla, Ardeshir Dalal, Sri Ram, Kasturbhai Lalbhai, Ardeshir Darabshaw Shroff, Sir Purshottamdas Thakurdas and John Mathai.A key principle of the Bombay Plan was that the economy could not grow without government intervention and regulation. Under the assumption that the fledgling Indian industries would not be able to compete in a free-market economy, the Plan proposed that the future government protect indigenous industries against foreign competition in local markets. Other salient points of the Bombay plan were an active role by government in deficit financing and planning equitable growth, a transition from an agrarian to an industrialized society, and—in the event that the private sector could not immediately do so—the establishment of critical industries as public sector enterprises while simultaneously ensuring a market for the output through planned purchases.
Sarwan Singh
2 years ago
thanks
Aishwarya Mishra
2 years ago
:) welcome
Sarwan Singh
2 years ago
have you upsc aspirant??
Aishwarya Mishra
2 years ago
Yeah .. I Am !!
Sarwan Singh
2 years ago
your optional mam??
Bombay Group : The principal complaint of the Bombay Club was the rapid reduction in import duties. On November 10, 1993, eight industrialists – Lala Bharat Ram, Lalit Mohan Thapar, Hari Shankar Singhania, M V Arunachalam, B K Modi, C K Birla, Rahul Bajaj and Jamshyd Godrej – handed over a note to this effect to Dr Manmohan Singh, the then finance minister. The note welcomed competition in the market but urged the government to take steps “to enable them [Indian businesses] to play their rightful role in the industrial development of the country”.
Bombay club the economy was liberalised 24 years ago floodgates were open to the multinational corporates with the trade barriers but then a group of Indian businessman led a lobbying effort against removing trade barriers.They said they are in favour of removing barriers to imports, but they first required `fair' competition with imports on a `level playing field'. Indian companies must get access to reliable and trustworthy electricity, high quality ports and airports, a sensible framework of labour law and a sound GST, a good financial system, etc. On November 10, 1993, 8 industrialists – Lala Bharat Ram, Lalit Mohan Thapar, Hari Shankar Singhania, M V Arunachalam, B K Modi, C K Birla, Rahul Bajaj and Jamshyd Godrej – handed over a note to this effect to Dr Manmohan Singh, the then finance minister. The note welcomed competition in the market but urged the government to take steps “to enable them to play their rightful role in the industrial development of the country”.
JATIN SIR one doubt on editorial - Protection of people from social boycott act 2016 has been passed to prohibit the social boycott of people on the diktats of the informal village councils but why was it necessary to pass such an act when it article 17 deals with the abolition of untouchability and Prevention of civil rights act 1955 further strengthens it by mentioning actions which are bound to be punishable in the form of imprisionment or financial impositions... so what makes Maharashtra to further pass this 2016 act ---- what i believe is it was passed to increase the social base as the prior ones just cover the sc/sts and not the society as a whole and the new law has increased the social base.. such as the eg you mentioned of the mount everest climber of raigad who was socially boycotted.
Amit Bisht
2 years ago
shobit as article 17 only talks about untouchability and the various sins which our country had been facingsince ancient times ,while the present act its for all the members of the society whther upper caste or lower caste irrespective of religion,+ it also probhits people who boycott the person\ family (ban to attend marriages ,people will not talk to them etc..) it was a type of social evil, different from untouchability...maharastra govt.cited an example...i hope this helped u.
Shobhit Awasthi
2 years ago
Thanks Amit for being generous in replying my comment... A big thanks
sir because you are running alot of courses so may be that's why you are not able to cover all the important editorial analysis, so my request is please cover all the relevent editorial also that really will be very helpful. thank you
  1. DAILY NEWS ANALYSIS from Hindu, livemint, HT, Indian Express 26th July 2017 By JATIN VERMA Educator Unacademy For Daily The Hindu News & Editorial analysis- Visit my Unacademy profile- www.unacademy.com/user/studiousjatin


  2. Page 12 International: China res back at U.S. accusations over aerial encounter China denied its fighter jet pilots operated dangerously during an encounter with a U.S. surveillance plane in international airspace in which the American pilot took evasive action to avoid a possible collision. Chinese Defence Ministry said that the performance of the pilots of the two J-10 fighters was "legal, necessary and professional". . China criticised frequent close-in surveillance runs by U.S. planes as raising the chance of accidents, saying such missions "threatened China's national security, harmed China-U.S. sea-air military safety, endangered the safety of pilots from the two sides and were the root cause of China-U.S. sea-air unexpected incidents" The U.S. should stop such "unsafe, unprofessional and unfriendly military activities intended at collecting Chinese computer and voice data in hopes of gaining insight into the workings of the People's Liberation Army (PLA)."


  3. e China in 2013 declared an air defence identification zone [ADIZ] over a partly contested portion of the East China Sea, demanding foreign aircraft declare their presence and follow Chinese order it. It wasn't clear if Sunday's encounter took place inside the zone. PLA itself has been conducting such missions further and further from its home ports . The U.S. and others swiftly dismissed the zone as invalid and have largely ignored . While China has long chafed at U.S. surveillance operations targeting its military, the For Indian Polity Crash course, Visit my Unacademy profile- www.unacademy.com/user/studiousjatin


  4. Page 12 World News:Sri Lanka clears revised deal for Hambantota port . Sri Lanka's Cabinet cleared a revised deal for the Chinese-built port in Hambantota. . The modified agreement, the government added, was more profitable to Sri Lanka and also addressed security concerns raised by other countries. Contours of Revised deal: To sell 70% stake in the southern port to the state-run China Merchants Port Holdings for $1.12. billion. 2. As per the revised agreement Sri Lanka will manage the port security thereby putting to rest the fears 2. As per the revised agreement Sri Lanka will manage the port security, thereby putting to rest the fears, that the port would be used as a military naval base 3.While the Chinese would manage port operations, no naval ship, including Chinese ones, can call at Hambantota without our permission Wary of the Chinese . India's apprehensions about the apparently growing Chinese presence in the island nation are well known, given the two countries' competing strategic interests here. The Hambantota port is part of China's Belt and Road Initiative. . Beijing's stake in the port and its plan to acquire 15,000 acres of adjoining land to help Colombo set up an industrial zone have strengthened the fears of those wary of China's growth in the region.


  5. Page-12: For China's global ambitions, 'Iran is at the centre of everything For millennia, Iran has prospered as a trading hub linking East and West. Now, that role is set to expand in coming years as China un- spools its 'One Belt, One Road' project, which prom- ises more than $I trillion in infrastructure investment-bridges, rails, ports and en- ergy in over 60 countries across Europe,Asia and Africa. . Iran, historically a crossroads, is strategically at the centre of those plans. . Like pieces of a sprawling geopolitical puzzle, components of China's infrastructure network are being put in place. In eastern Iran, Chinese workers are busily modernising one of the country's major rail routes, standardising gauge sizes, improving the track bed and rebuilding bridges, with the ultimate goal of connecting Tehran to Turkmenistan and Afghanistan. . Much the same is happening in western Iran, where railroad crews are working to link the capital to Turkey and, eventually, to Europe. Other rail projects will connect Tehran and Mashhad with deepwater ports in the country's south. proge dependent on Bejing during the years of program, Iran is now critical to China's ability to realise its grandiose ambitions. Other routes to Western . Once dependent on Beijing during the years of international isolation imposed by the West for its nuclear markets are longer and lead through Russia, potentially a competitor of China.


  6. A 575-mile electrified rail line linking Tehran and Mashhad, financed with a $1.6 billion loarn from China. 50 UZB Caspian Sea ARMAZER. TURKMENISTAN . When completed and attached to the wider .Tabriz network, the new line will enable Iran to export goods as far as northern Europe, Poland and Russia, at much less cost than today When finished, the proposed rail link will stretch nearly 2,000 miles, from Urumqi, the capital of China's western region of Xinjiang, to Tehran. Mashhad , Kuh-e Com TEHRAN, Kermanshah Birjand AFG. Yazd Ahvaz ndar-e Emam Khomeyni 30 Kerman adan 30- Shir z Sat T B shehr Zahedan andar 'Abbas Persian SAUDI ARABIA 100 200 km . If all goes according to plan, it will connect PAK bahar TAR mr Kazakhstan, Kyrgyzstan, Uzbekistan and Turkmenistan, o Guf of Oman 0 100 200 mi 0 UAE


  7. NETHER NDS Moscow R US SIA POLAND ter GREECE KAZA K HSTAN MONGOLIA Venice VSERBIA ty Uruma Bishkek Am Urumqi IT LY RIstanbul UZBEKISTAN T U Beijing thens Mediterranean Seu Tehran IRAN Land route "One Belt" Xi'an Iran Route CHIN A PAKISTAN Fuzhou ypasses Russia & its KolkataoMYAN Zhanjiang allies Silk Road routes Land Sea _ New -New 2,000 km THAI South China ea AND ND RI LANKA ALAY INDIA N Kuala Lum 0 CEAN Colombo Sea route "One Road" KENYA Sources: Digital Silk Road Project; Financial Times E S Nairobi Jakarta


  8. Business Page 13:Transfer unclaimed accruals to SCW fund: IRDA Insurance companies can no longer retain unclaimed amounts of policyholders if those accruals are more than 10 years old. Such sums need to be, instead, transferred to the Senior Citizens' Welfare Fund (SCWF) of the Centre.The fund is administered by MoSJE . All insurers having unclaimed amounts of policy- holders for a period of more than 10 years as on September 30, 2017 The corpus of the Senior Citizens Welfare Fund comprise of any credit balance in any of the accounts under the small savings like Post Office Saving Schemes, Banks, etc. remaining unclaimed for 10 years from date of declaration as an inoperative account, shall be transferred by the Institution holding such amounts to the Senior Citizens Welfare Fund. Rashtriya Vayoshri Yojana, a 'Scheme for providing Physical Aids and Assisted-living Devices for Senior citizens belonging to BPL category'.


  9. Business Page 14: India's concerns slowing RCEP talks' India's reservations regarding the potential adverse impact of eliminating duties on its local manufacturing and job creation is understood to be slowing down the Regional Comprehensive Economic Partnership (RCEP) negotiations. The RCEP is a proposed mega Free Trade Agreement (FTA) involving 16 Asia Pacific nations including India and China, and aims, among other things, to liberalise investment norms in the region, besides boosting trade by dismantling most tariff and non-tariff barriers. . Widening trade gap-A matter of concern . India's trade deficit with RCEP nations is about $100 billion, and half of this is with China alone even without an FTA with China Post India's FTA with ASEAN, Japan and Korea [who are all RCEP members], our trade deficit with them have increased, and the government needs to take this into account during RCEP negotiations Zero duty to hit Indian dairy industry: Amul The Indian dairy sector, providing livelihood to 15 crore farmers, would be severely hit if import duties on milk and milk products were eliminated under any Free Trade Agreement (FTA) including the Regional Comprehensive Economic Partnership (RCEP), according to the local dairy cooperative Amul


  10. The a Nirt Secure https://unacademy.com jatin verma Searching for "jatin verma" EDUCATORS Jatin Verma Mahesh Verma COURSES The Hindu - Daily News AnalysisJuly 2017 BV Jatin Verma