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DAILY NEWS ANALYSIS fromTHE HINDU, LIVEMINT, INDIAN EXPRESS 3rd August 2017 By JATIN VERMA Educator Unacademy For Daily The Hindu News & Editorial analysis- Visit my Unacademy profile- www.unacademy.com/user/studiousjatin
. Pagel: RBI cuts repo rate by 25 bps to 6%, lowest in over 6 years As some of the upside risks to inflation have not materialised, the RBl decided to cut the key policy rate or repo rate by 25 basis points (bps) to 6%, taking it to its lowest in six-and-a-halfyears. . The action was in line with expectations, even as the RBl continued its neutral stance, saying future action would depend on incoming data. RBl expected banks to pass on the benefits to customers of those segments, which had not received the benefit of the rate-easing cycle Market participants said since RBl had indicated that inflation would rise from here, there was no scope for a further rate cut. Reasons given by RBI MPC: (i) Inflation, excluding food and fuel which has hitherto been sticky, has fallen in the past 3 months. (ii) Normal and well-distributed rainfall and (ii) Smooth rollout of the GST (iv) Excluding the HRA [house rent allowance of the Seventh Pay Commission] impact, which will affect the consumer price inflation cumulatively, headline inflation would be a little above 4% in Q4 as against 4.5% inclusive of the HRA.
. Other Salient Observations by RBI: [i]The MPC observed that while inflation had fallen to a historic low, a conclusive segregation of transitory and structural factors driving the disinflation was still elusive. [ii]On the state of the economy, the MPC said there was an urgent need to reinvigorate private investment, remove infrastructure bottlenecks, and [ii] provide a major thrust to the Pradhan Mantri Awas Yojana. [iv]The RBl said the projection of real GVA growth for 2017-18 had been retained at the June 2017 projection of 7.3%, with risks evenly balanced. . This is the second rate cut since the monetary policy committee (MPC) began functioning in October and the first after the demonetisation in November 2016.
Page-7: Prices of orthopaedic implants to be capped After capping the price of cardiac stents, the National Pharmaceutical Pricing Authority has started work on a similar exercise for orthopaedic implants. As with cardiac stents, implants can have huge margins, ranging from 200% to 500%, making them very expensive for patients and insurers. The NPPA has been holding meetings with stakeholders, including members from the Indian Orthopaedic Association and manufacturing companies India, has the highest percentage of untreated arthritis patients in the world. But due to lack of insurance coverage &high costs, most sufferers choose to compromise on the quality of life. A price cap will definitely help these patients.The other stake holders don't have anything to lose either as more patients will come forward. Price-capping will help make the best implants available at reasonable costs. Drug Controller General of India (DGCI) & Central Drugs Standard Control Organisation (CDSCO) and which deal with regulatory control over the import of drugs, approval of new drugs and clinical trials, are governed by the Health Ministry.Whereas, National Pharma Pricing Authority (NPPA), which sets the price limit on essential medicines, comes under Ministry of Chemicals and Fertilisers.
Page-7: Coconut palm declared State tree of Goa The State government has decided to include coconut palm as tree in the Goa, Daman and Diu (Preservation of) Trees Act, 1984 to regulate its felling of coconut trees under this Act, Page-10: It's a losing battle for privacy: SC . The Supreme Court voiced apprehension over the possible misuse of personal data in the public . A nine-judge Bench wrapped up the marathon hearing of the reference on the question whether . We are fighting a losing battle of privacy.We do not know for what purpose the information will be domain, saying the race to maintain privacy against the advent of technology was a losing battle. privacy was a fundamental right or not, and reserved its judgment. used.This is exactly a cause of concern," said the Bench. Basic information An advocate submitted that providing basic personal in- formation could not be covered under the right to privacy. However, the Bench highlighted the need to define privacy as India had become a "knowledge- based economy", and had nearly 1.4 billion people whose personal information was in the public domain.
Page-10: Nod for proxy voting for NRIs The Union Cabinet cleared a proposal to extend proxy voting to overseas Indians by amending electoral laws. . For overseas Indians, the Representation of the People Act needs to be amended to include proxy voting as other means to cast their votes. While non-resident Indians and overseas Indians are free to cast their votes in constituencies option of proxy, which as of now is only available to service personnel. Page-1l: Congress, BJP not in favour of NOTA in Rajya Sabha polls Since there was no secrecy in Rajya Sabha election, NOTA is not of much Rajya Sabha, parties issue whip for these elections and NOTA option went against the nature of the whip Party A. Party B NOTA
Page 12 World News: Ready to talk to N. Korea: U.S. Secretary Tillerson The U.S. is willing to talk to North Korea, provided it agrees to the condition that such talks will move towards its de-nuclearisation, reiterating the U.S. position that has so far been unacceptable to Pyongyang. U.S. says: we do not seek a regime change; we do not seek the collapse of the regime,we do not seek an accelerated reunification of the peninsula, we do not seek an excuse to send our military north of the 38th parallel (border between North and South Koreas) And we're trying to convey to the North Koreans we are not your enemy, we are not your threat, but you are presenting an unacceptable threat to us, and we have to respond North Korea has conducted two ICBM tests last month and its leader Kim Jong-un has claimed the "whole U.S. mainland" is now within range.The U.S. has taken the threat seriously. The U.S. and its allies flew bombers over the Korean Peninsula in a show of strength on Sunday, after the second ICBM test. . As tensions rose, South Korean President Moon Jae-in has agreed to deploy more missile interceptor systems_American-made Terminal High Altitude Area Defense or THAADin response, indicating a turnaround in his position.
Around 30,000 American troops are located in South Korea, which will be the first target of any North Korean retaliation Military option: Military option to destroy North Korea's (missile) programme is also on table China's Role: Mr. Tillerson also made overtures to China, citing its "unique" relationship with North Korea and seeking its help to turn the situation. President Donald Trump has been expressing his disappointment with China in hostile terms in recent weeks, as North Korea continued with its missile testing. NOR T H Russia China KORE A Military Demarca Line Demilitarized Zone (DMZ) North Koree Sea of Japan (East Sea) Tunnel South Korea Yellow Sea SOUT H KORE A Japan
. Page-12World: Sino-Pak. highway, a one-way street? . The China-Pakistan Friendship Highway runs over 1,300 km from the far western Chinese city of Kashgar through the world's highest mountain pass and across the border. For China, the two-lane thoroughfare symbolises a blossoming partnership, nourished with tens of billions of dollars of infrastructure investment. But for many Pakistani businessmen living and working on the Chinese side of the border, the road is a one-way street. . . There is no benefit for Pakistan. It's all about expanding China's growth The remote town of around 9,000 is at the geographic heart of Beijing's plans to build a major trade artery the China-Pakistan Economic Corridor (CPEC) connecting Kashgar to the Arabian Sea port of Gwadar The project is a crown jewel of China's One Belt, One Road (OBOR) initiative, a massive global infrastructure programme to revive the ancient Silk Road and connect Chinese companies to new markets around the world. In 2013, Beijing and Islamabad signed agreements worth $46 billion to build transport and energy infrastructure along the corridor,and China has upgraded the treacherous mountain road better known as the Karakoram Highway.
CHINA While both countries say the project is mutually beneficial, data shows a different story. Pakistan's exports to China fell by almost 8% in the second half of 2016, while Imports jumped by almost 29% In May, Pakistan accused China of flooding its market with cut rate steel and threatened to res Pakistan Chinese Border Gilgit Eatistan Khyber Pakhtunkhwa PESHAWARISLAMABA Azad Jammu & Kashmr abad Capital Te Federally Administered Trbal Areas AFGANISTAN LAHORE pond with high tariffs . Pakistani businessmen in Xinjiang see few benefits from CPEC, complaining of intrusive security and capricious customs arrangements Over the last year, Beijing has flooded Xinjiang, which has a large population, with tens of thousands of security personnel and imposed draconian rules to eliminate "extremism". IRAN INDIA Leg Muslim Pkistani Tertor Pistan Terrtory (Dspured) Foreign Terrory Foreign Tentory opted) Contict Zone Gwadar Provincii Tertorial Boundry
Page-I 2 World: U.S. to prepare trade case against China . The investigation will focus on alleged Chinese violations of U.S. intellectual property. . China's policy to become a leading manufacturer by 2025 in the fields of driverless cars, medical devices, semiconductors, artificial intelligence, robotics has caught the attention of U.S. administration The U.S. move signals a shift by the U.S. administration away from its emphasis on greater cooperation between Washington and Beijing, in part because U.S. has become frustrated by China's reluctance to confront North Korea over its nuclear and ballistic missile programmes. . The policy, Made in China 2025, sets goals for China to be a global leader in 10 fields with the help of huge infusions of state money and the protection of those industries from U.S. competitors . Chinese government has demanded that U.S. companies cut the licensing fees that they charge for key patents and has insisted that companies set up joint ventures to do business in China. Citing cybersecurity concerns, China has asked international technology companies like Apple, Amazon and Microsoft must set up China-based data centres if they want to do business there.
Centre considering 'One-Nation, One Licence Policy, forTelecom sector The Centre will consider including a one-nation one-licence' regime in the new telecom policy that is set to come out next year. The move, if implemented, is likely to remove the distinction between local and STD calls, as service providers will not need separate licences for operations in various parts of the country.A single licence would suffice. Creation of 'one-nation one-licence' policy across services and service areas, was also the one of the objectives of the National Telecom Policy 2012.
. World Customs Organization (WCO) An intergovernmental organization headquartered in Brussels, Belgium Estd.- January 26, 1952 Membership: 182 Countries Work: in areas covering the development of international conventions, instruments, and tools on topics such as commodity classification, valuation, rules of origin, collection of customs revenue,supply chain security, international trade facilitation, customs enforcement activities, combating counterfeiting in support of Intellectual Property Rights (IPR), drugs enforcement illegal weapons trading, integrity promotion, and delivering sustainable capacity building to assist with customs reforms and modernization. I Harmonized System (HS) goods nomenclature and administers the technical aspects of the WTO Agreements on Customs Valuation and Rules of Origin.
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