DAILY SUMMARY AND ANALYSIS OF THE HINDU in Hindi 5'th June,2017 Presented by Amit Baghel
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Commerce Ministry to redefine focus Aadhaar must for kerosene subsidy, Atal Pension Yojana The Commerce Ministry announced its decision to step down has sought to shed from non-core areas including Foreign Trade Policy( control over commodit Aadhaar has now been made mandatory to get subsidy on kerosene and benefits of the Atal Pension Yojana The Centre allocates subsidised kerosene to the States and Union Territories as affordable cooking fuel for domestic use, mainly to those living below the poverty line Under the pension sc pension of 1,000 to 5,000 a month, depending on contributions made, from the age of 60 However, tll Aadhaar is obtained, ration card, driving licence, voter identity card, Kisan passbook with photo, jolb card issued under the Mahatma Gandhi National Rural Employment Guarantee Scheme or a certificate issued bya gazetted officer or a tehsildar will be considered as proof of identity for the benefits It has been also decided to link Aadhaar with the ration card issued to beneficiary households or with the bank account for cash transfer. Why it's being done? this is being done to better utilise the ministry's as' such as ETP formulation nd at India's trade talks with other countries a WTO level This in consideration comes from India's goods and services exports being impacted by rising incidents of The Commerce Ministry recently has asked the Central Board of Excise and Customs (CBEC) head the body for FTP implementation The CBEC for now has declined the requesting saying that they will have to create a new structure similar to Directorate General of Foreign Trade (DGED. DGFT is responsible for implementing the Foreign Trade Policy with the main objective of promoting India's exports The Commerce Ministry is now merging various commodity boards into a single organsation The Ministry ofOil and Natural Gas has introduced direct benefit transfer through which subsidy is transferred directly to the bank accounts of the beneficiaries, who purchase the PDS kerosene at non-subsidised rate The decision to make Aadhaar mandatory for these two schemes is expected to prevent leakages
CSIR faces fund crunch, asks labs to look outside Women to get combat role in Army In a transformational move, the Indian Army is all set to open up combat positions for women, a gender barrier broken by only a few countries process is moving fast and initially women will be recruited for In any given year, the CSIR-with a 4,000 crore annual budget-apportions out about 1,200-1,400 crore to its labs for research. This year, according to Dr. Sahni's letter, only about 360 crore would be available Why this crunch ? sitions in military police The roles of military police include policing the cantonments and Army establishments, prevent breach of rules and regulations by soldiers, maintaining movement of soldiers as well as logistics during peace and war, handling prisoners of war and extending aid to the civil police whenever required The crunch was primarily due to the organisation go from recommendations of the 7th Pay Commission and a 650 crore-hit towards meeting its pension requirements ent situation .In 2015, the CSIR decided that as part of a Dehradun Declaration under Science Minister Harsh Vardhan's leadership, to generate about 50% Women are now allowe (J Army but 20 would come from external sources and this year at least 25% be met that way Only countries such as Germany, Australia, Canada, the U.S., Britain, Denmark, Finland, France, Norway, Sweden and Israel have allowed women in combat roles
GDP estimates: Reading the tea leaves 04horethebrunt Most sectors of the economy bore the brunt of the note ban in the fourth quarter of 2016-17 and not in the third quarter, CSO released its second advance estimates in February, many commentators expressed surprise that GDP growth held up at 7% in the critical October-December quarter. But the latest estimate says that growth gave way to 6.1% in January-March 2017 In Q4, the construction industry saw a 3.7% contraction compared with a 3.4% increase in Q3. Manufacturing growth fell to 5.3% from 8.2%, despite the new series of Index of Industrial Production (IIP) showing factory output in better light. Services such as trade, hotels and transport slowed to 6.5% growth, from 8.3%. Why did demonetisa One explanation is that strong festival season sales in October masked the disruption to consumption in November and December in Q3. In Q4, without such one-offs, the real impact was evident. ing months Both the advance and provisional estimates of GDPare extrapolated based on high-frequency and ua which represent the organised sector.
Cont. Of the four key legs of GDP on the expenditure side, in FY17, private spending despite the demonetisation shock) registered healthy growth of 8.7% compared with 6.1% in FY16 Driving the GDP The Government is dolng all the heavy lifting Real grow t Government spending zoomed to 20.8% from 3.3%. But growth in new investments slumped to 2.4% from 6.5% 2012-13 2013-14 2014-15 2015-16 2016-17 rates (%) 5.2 6.2 61 8.7 1.7 82 128 33 20.8 While economists look mainly at the real GDP (growth in the volume of economic output without inflation) to assess the state of the economy, nominal growth (economic growth in value terms) is quite important to the aam aadmi. GFCE) Investments 03 3.C 6.5 2.4 "(GFCF) 5.1 8.0 71 On this score, there's good news in the latest numbers. With inflation (at the wholesale level) shooting up in recent months, GVA at current prices has staged E a sharp improvement from 8.7% in the first quarter of FY 17 to 1 1 .3% in Q4 PFCE: Priva Anal Consumption Expendituro IGPCE: Govt FinaL Consumo on Expenditure GFCF. Gross Foud Cap tal Formation It is nominal GDP growth that determines increases in income for farmers, entrepreneurs and the salaried. Profit and sales growth for India Inc. are also pegged to nominal rather than real GDP growth
Centre drops phone-makers' GST call Why Mobile manufacturers are concerned? . The GST Counci, decided that Wi the products, will no longer exist as GST will subsume all indirect Central and States taxes into a single tax rate. sho and components continues once the GST regime is rolled out , Whats are differential duty regime on mobile handsets and components? a differential duty regime was introduced on three components of handsets chargers/ adapters, battery packs and wired headsets-whereby a tariff protection of 10.5% was ovided to mestic manufacturers vis-a-vis im of same components anufacturing
cont.. significant manufacturing prog ponent plants being set up and addition of about 30.000 direct employment, , Make In India, Initiative, indigenous production of mobile handsets went up from u crore units valued a 1.2 crore units valued at Rs. 90,000 crore in 2016-17 Why Mobile manufacturers should not worry ? While duty differential will not be there the cost of manufacturing unless you are importing from somewhere in the world where cost of manufacturing is much lower than in India It should reduce What could be after effects? . mobile phones that are currently manufactured in India, the excl lexcluding Maharashtra and Delhi where the rate is 125%]. So the duty s 2 plu v r s excluding Maharashtra and Delhi where the rate is 12%). So the effective rate . As of now, basic customs duty on mobile is nil. The basic customs duty shall be imposed to encourage local manufacturers what happens to the inventory that a distributor or a retailer has, but which remains unsold post July 1, the likely date of GST implementation. The handset makers, the company representative added, may offer heavy discounts on mobile phones to consumers in a bid to exhaust existing inventory What Govt is doing ? The government, last month, also notified the Phased Manufacturing Policy (PMP) to push the level of domestic value addition in mobile the country However, how the policy will work once GST is rolled out is not yet clear. sets made in PMP is expected to generate 2 million jobs in the country by creating a S500 billion industry in the next 5-7 years. . The government is also ects, will enhance value addition to 58.3 % infeaturephonesand 39.6% n martphones Presently, the contribution of domestically manufactured mobile phone components stands at 10%
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UPSC 2018 mains; Doing 'The Hindu Newspaper Analysis' since June,2017. YouTube- Gurukul Prime.