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Daily News Analysis 5th August 2017 By Jatin Verma Educator Unacademy unacadem For Editorial Analysis & English video, Visit my Unacademy Profile- https://unacademy.com/user/jatinverma7I
13 Business: Centre starts ETF for PSUs, lenders Finance Minister announced the introduction of Bharat 22, a new exchange traded fund (ETF) comprising 22 stocks including Central Public Sector Enterprises (CPSEs), public sector banks (PSBs), and Specified Undertakings of the Unit Trust of India (SUUTI). The earlier ETF the CPSE ETE had many energy companies. Bharat 22 is a well-diversified ETF spanning six sectors-basic materials, energy, finance, FMCG, industrials, and utilities. Focus on performance:While selecting the constituent, Govt has tried tried to ensure that the Bharat 22 Index would be better performing than the previous indices Department of Investment and Public Asset Management (DIPAM) The CPSE ETF had raised 8,500 crore last year The weightage in the Bharat 22 Index given to basic materials is 4.4%, energy 17.5%, finance 20.3%, FMCG 15.2%, industrials 22.6%, and utilities 20% The banking segment includes stocks from State Bank of India, Axis Bank, Bank of Baroda, Indian Bank, Rural Electrification Corporation, and Power Finance Corporation. The energy segment includes Oil and Natural Gas Corporation, Indian Oil Corporation, Bharat Petroleum, and Coal India.
DIPAM: [27th June 2017 DNA] Strategic Disinvestment System of Rolling Plan anagement Accelerating Disinvestment Process CPSE Exchange Trade Funds Promoting Digital Payments Accelerating Disinvestment Process -1 System in Offer for Sale Time-bound Listing of CPSEs Equity Culture More inclusive disinvestment programme
. What are Exchange Traded Funds? Exchange Traded Funds are Index Funds Comprising shares of many companies that are listed and traded on exchanges like stocks. broad exposure to specific sectors. . An ETF is a basket of shares that reflects the composition of an Index. The ETFs trading value is based on the net asset value of the underlying stocks that it represents. For Daily News & Editorial Analysis, you can follow me on Unacademy https://unacademy.com/user/jatinverma7I
Here is a list of stocks to be included in Bharat-22 with their weightages SP BSE SENSEX ITC Ltd (through SUUTI): 15.2% SBI (State Bank of India): 8.6% Power Grid Corp: 7.9% Axis Bank (through SUUTI): 7.7% NTPC Ltd: 6.7% ONGC Ltd (Oil and Natural Gas Corp): 5.3% Indian Oil Corp: 4.4% BPCL (Bharat Petroleum Corp Ltd): 4.4% NALCO: 4.4% Coal India Ltd: 3.3% BEL (Bharat Electronics Ltd): 3.3%. EIL (Engineers India Ltd): 1.5% Bank of Baroda: 1.4% REC Ltd (Rural Electrification Corp): 1.3% NHPC Ltd: 1.2% PFC Ltd (Power Finance Corp): 1 % NBCC Ltd: 0.6% NLC India Ltd:0.3% Indian Bank: 0.2% SJVN Ltd: 0.2% 5000 2906 15000 Index Value(depends on combined performan 1900
Page-l: Cattle trade ban rules were not placed before Parliament: RTI Query reveals Background: Cattle trade rules, first notified on May 23, 2017,mandate that cattle should only be sold irn animal markets for farming purposes. . A Lok Sabha Secretariat reply to a RTI request made by one of the petitioners who has challenged the cattle slaughter ban rules in the Supreme Court reveals that the rules were never laid before the Parliament, which the government should have done before implementing them. Prevention of Cruelty to Animal (Regulation of Livestock Market) Rules of 2017 On August 4,2017, a petitioner exposed before a Bench led by Chief Justice of India J.S. Khehar another chink in the governments slaughter ban rules. Section 38A of the Prevention of Cruelty Act of 1960 -the parentAct under which the rules are made mandates that any rule made by the Centre under it ought to be laid before each House of the Parliament as soon as it is made". The rules would be placed before the Parliament for a total 30 days.Any modification agreed upon by both Houses of the Parliament should be incorporated in the rules or else they would have no effect. . What S.C. said: [I] Section 38A invokes the spirit that laying a law before the Parliament is important. It is an exercise of parliamentary control over the laws of the land. Rules, once notified, are the law. Government cannot say we will not implement them.The rules will continue to operate until either government repeals them or S.C. issues an order of injunction.
Page-I: From cradle to Grave: Now, Aadh aar is required for death certificates too A notification by the Office of the Registrar General, which functions under the Home ministry, said an applicant is required to provide the Aadhaar number or Enrolment ID Number (EID) of the deceased and other details as sought in the application for a death certificate. The notification was issued under the provisions of Registration of Birth and Death Act. . The office of the registrar general is the central authority to coordinate and unify the activities of chief registrar of birth and death in states and union territories. What the notification says Tillt will provide an effective method to preventidentity fraud. [ii]Ilf the applicant is not aware of the Aadhaar number or EID of the deceased, he or she will be required to provide a certificate that the deceased person did not possess Aadhaar number to the best of his or her knowledge [ii] The use of Aadhaar number for the applicants of death certificate will result in ensuring accuracy of the details provided by the relatives, dependents, acquaintances of the deceased. [iv] The directive would be applicable for the residents of all states except Jammu and Kashmir,Assam and Meghalaya, for which a date would be notified separately [V] The applicant's Aadhaar number will also be collected along with the Aadhaar number of the spouse or parents of the deceased.
Page-5: ISRO set to launch satellite with corrected clocks Indian Space Research Organisation will soon launch a replacement navigation satellite fitted with corrected atomic clocks to make up for the crippled satellite, IRNSS-IA. . The upcoming IRNSS-1H will be sent up towards the end of August and a date is yet to be fixed. Its launch became imperative after all three rubidium atomic clocks on IRNSS-IA failed in mid-2016. Three more clocks failed later across the fleet of seven satellites, which together had 2l atomic clocks. The ,420-crore fleet, now called NAViC or Navigation Indian Constellation, is India's own GPS-like system to give accurate information about location and time of persons or objects in the same way as the older US Global Positioning System or Russia's GLONASS. Positional details are vital for civil and military aviation, defence needs,ATMs and individual users, besides transport on land, sea or air. European problem: The clocks for ISRO's NavlC and the European Space Agency's first 18 Galileo satellites came from the same Swiss company and developed similar problems around the same time. The two agencies had compared their navigation troubles. Mr. Kumar said the hardware solution was also similar for the two agencies.
Page-8: SC seeks govt's response on Member of Parliament's petition alleging Dilution of Judicial Independence. [Article 50] . The Supreme Court sought the government's response on petition that provisions of the Finance Act, 2017 modifying the terms of appointment and functioning in various statutory tribunals, including the National Green Tribunal, amounted to a dilution of judicial independence and a threat to the Constitution Main Concerns: i] Doctrine of Colorable Legislation: MP said, the passing of the Finance Act, 2017,as a Money Bill itself was a "colourable exercise of power and a fraud on the Constitution." The petition specifically challenged Sections 182, 183, 184 and 185 of the Finance Act, 2017 as well as rules framed under Section 184,referred to as the Tribunal,Appellate Tribunal and other Authorities (qualifications, experience and other conditions of service of members) Rules, 2017) [ii] Section 184: Section l 84 empowers the Centre with "uncan alised and unguided power to make rules to provide for qualifications, appointment, term of office, salary allowances, resignation, removal and other terms and condition of service of chairpersons and members of several other tribunals and appellate tribunals. But now, the Centre, through the Finance Act, has gifted to itself the power to control the functioning of the tribunal.All this, when the government is itself a party in most cases before the tribunal.The plea points to how the Act has also tinkered with the NGT rules. Now, these members would be chosen by a government nominee for whom no qualifications have been laid down. . Article 50 in The Constitution Of India: Separation of judiciary from executive The State shall take steps to separate the judiciary from the executive in the public services of the State
Page-8: Motor Vehicles Bill sent to RS panel . A Bill seeking to bring rad- ical changes in the transport sector by amending the nearly 30-year-old Motor Vehicles Act, 1988, would be sent to a Select Committee of the Rajya Sabha. Salient Features: [I] The Bill caps the maximum liability for third party insurance, but does not cap the compensation amount that courts can award. In cases where courts award compensation higher than the maximum liability amount it is unclear who will pay the remaining amount. 2] Under the Act, compensation for hit and run victims comes from a Solatium Fund. 3] The Bill creates a new Motor Vehicle Accident Fund in addition. With a Fund already existing to provide compensation for hit and run accidents, the purpose of the new Accident Fund is unclear  State governments will issue licenses to taxi aggregators as per central government guidelines. Currently, state governments determine guidelines for plying of taxis. There could be cases where state taxi guidelines are at variance with the central guidelines on aggregators State List Entries 13. Communications, that is to say, roads, bridges, ferries, and other means of communication not specified in List l; municipal tramways, ropeways, inland waterways and traffic thereon and List Ill with regard to such water-ways; vehicles other than mechanically propelled vehicles. 57.Taxes on vehicles,
C secure https://unacademy. Jatin unacademy Explore a Search Courses, Topics&Educators O credits Jatin Verma Follow Worked at Citi Bank. Books, movies, travelling, share trading Have appeared in UPSC CSE twice. Preparing again Activity 20 Courses73.7k Followe5 Folowing Impact Jatin Verma added 2 new lessons 15m 1,307,471 6th July 2017 Part-2: Press Information Bureau Summary and Analysis Gold Bond series-2 6th July 2017 Part-1: Press information Bureau Summary & Analysis Insolvency& Bankruptcy Board of India; Presidential elections Facts and details not given in the basic books Jatin Verma added 2 new lessons 11h 7th July 2017 Editorial-2: Mr Modi in Israel Saudi Arabla-Palestine For Daily Multiple Choice Questions, Visit my Unacademy profile- www.unacademy.com/user/studiousjatin