Deepanshu Singh is teaching live on Unacademy Plus
YSIS OF NEWSPAPERS IN LESS THAN 10 MINUT Presented B 7th January,2017 9D chrome
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EDITORIALS COVERED IN TODAY'S LESSON The Hindu e flindu -When banks are awash with cash Clamping down on ordinance raj Economic and Political Weekly (EPW) Energy, Gender and social norms Indian ExpresS Farmer-suicides due to debt, loans from banks, not moneylenders
QUESTIONS FOR ANSWER WRITING PRACTICE " Resorting to ordinance has always raised concern on violation of the spirit of separation of powers doctrine. While noting the rationales justifying the power to promulgate ordinances, analyse whether the decisions of the Supreme Court on the issue have further facilitated
TH: WHEN BANKS ARE AWASH WITH CASH (Gs-3) Demonetistion- The government not only underestimated the capacity for inefficiency and wrongdoing of our commercial banks, but also appears to overestimate their ability to turn around a shocked economy old notes being siphoned off to the influential and those with the capacity to pay for this, while the ordinary citizen queued for hours over days o the demonetisation meant to eliminate black money led directly to a black market for currency notes- Govts. Aim to provide "maximum governance" has lost credibility Also, dented the image of the RBI-which was viewed as above the sectarian calculations of the political class and the brazen corruption associated with the government machinery. o Govts. two major arguments in favour of Demonetisation seem to be failing- that a larger volume of deposits will spur lending and increase investment and that once most of the cash has "come into the system", financial transactions can be tracked by the government. o Counter to Govts, Claims Until loans-to-deposits ratio is not at the maximum permissible, the volume of ending will be determined by the demand for loans as first been noticed in the U.S. during the 1930s.-"you can take the horse to the water but you cannot make it drink" Private investors look for Highest rate of return before investing.
TH: WHEN BANKS ARE AWASH WITH CASH (Gs-3) Credit growth had been sluggish and private gross fixed capital formation has been depressed for a couple of years. o Recent growth in India was being driven by public investment and private consumption. o environment characterised by slowing growth, poor investor sentiment and NPA-strapped banks, the government's o Role of Banks and bankers is under scrutiny- role in piling of NPA's - vijay mallya issue, The very poor lending o Need of sound macroeconomic strategy that should now make use of fiscal policy-possibility of a cut in public investment o Focus should be on improving lower level of public services, not to mention human development compared to even task is cut out decisions of public-sector banks commencing in UPA II have resulted in a high level of NPAs to meet fiscal consolidation some of our neighbours. The government's heal or squeezing cash out of the system is not based on anv serous economic analysis of what the economy needs right now
TH: CLAMPING DOWN ON ORDINANCE RAJ (Gs-2) The to use the power vested in the President and the Governors under Articles 123 and 213 of the Constitution is generally a result of one of the following three reasons: 1. reluctance to face the legislature on particular issues, 2. ear of defeat in the Upper House where the government may lack the required numbers 3. the need to overcome an impasse in the legislature caused by repeated and wilful disruption SC's earlierJudgments-in 1986, in DC. Wadhwa that repeated re-promulgation of ordinances was unconstitutional. In present case-in Krishna Kumar Singh v. State of Bihar, it goes deeper and concludes that the failure to place an ordinance before the legislature constitutes abuse of power and a fraud on the Constitution o Implications o widens the scope of judicial review of ordinances- can enquire into whether the President or Governor had any material to arrive at the satisfaction that an ordinance was necessary and to examine whether there was any oblique motive larger ethical basis for the exercise of power in any circumstance o o However- Ordinance route is not always a cynical move- as a dysfunctional House sometimes constitutes a compelling circumstance in itself. o Combination of Opposition obstructionism and government obstinacy in not making any concessions to those across the aisle that derails legislative business and leads to ordinances.
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