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Weekly Review THE HINDU NEWS ANALYSIS 12th June to 17th June, 2017 By Jatin Verma, Educator, Unacademy. unacademy
Page l: GST Council decides to lower rates on 66 items. 12th June2017 . The Goods and Services Tax (GST) Council decided to reduce tax rates on 66 items including cashew nuts, packaged foods such as sauces and pickles, agarbatti, insulin, school bags, children's colouring books, cutlery, and some tractor components. The Council has also reduced the tax rate on cinema tickets costing 100 or less. [Entertainment Tax- Entry-33; Gambling- Entry-34]. . Trade and business with turnover of up to Rs. 20 lakh will be exempted from GST Apart from this, there will be a composition scheme for businesses with turnover of up to Rs. 75 lakh. Composition Scheme : for bringing traders, manufacturers and restaurants below Rs 75 lakh turnover under the Composition Scheme. Under this scheme, tax will be charged as: 1% from traders, 2% from manufacturers and 5% from restaurants, because they are mass job creators.]
s.Satyarthi backs new child labour law. The Child Labour (Prohibition and Regulation Amendment) Act, 2016, had some lacunae when it was enacted, but the rules noti- fied recently by the govt have addressed the weaknesses . Various child rights activ- ists, including Mr. Satyarthi, had earlier criticised the law, enacted in July2016, for reducing the number of hazardous occupations from 83 to three and allowing children to assist in family enterprises. But with the new rules, the issues have been properly addressed. Earlier, the interpretation was that any child could help in family enterprises. But if you look at the rules, it's possible only in a few occupations, and hazardous occupations have also been clearly defined. The Labour and Employment Ministry on June 2 notified the Child Labour (Pro- hibition and Regulation) Rules, 2017, which state that children can help in family enterprises only for three hours after school hours Children could not extend any help between 7 p.m. and 8 a.m.
India, Israel set to expand defence ties. . As India and Israel celebrate 25 years of their diplomatic relations, Tel Aviv has quietly emerged as one of the largest and trusted suppliers of defence equipment to the Indian armed forces, which rely heavily on imports. . After protracted negotiations, the two countries are close to concluding a deal for Spike Anti- Tank Guided Missiles. This will be the latest in a series of big-ticket defence deals approved recently Navy Chief and Chairman of the Chiefs of Staff Committee left on a four- day visit to Israel to continue the "high-level defence exchanges." continue the "high-level defence exchanges! . The purchase of Spike missiles was approved by the Defence Acquisition Council (DAC) in October 2014, but negotiations on the contract ran into trouble over cost and technology transfer The 3,200-crore deal includes 8,000-plus missiles, 300-plus launchers and technology transfer.The deal is likely to expand as the Army intends to equip its 382 infantry battalions and 44 mechanised regiments with new missiles.
>Page 12 World News: Iran sends five planes with food for Qatar 12 JUNE Geography: The Arabian Peninsula is essentially a huge, tilted block of rock, highest in the west and sloping gradually down to the east. Most of this slab of rock is covered with the sand of several large deserts. Saudi Arabia's landscape also contains mountain ranges, flat coastal plains, and the rocky remains of hardened lava flows. The country's climate is hot and dry, and there are no permanent rivers or lakes. Jabal Sawda is a peak located in Saudi Arabia, with an elevation of around 3,000 metres (9,843 ft). Most authorities claim that the peak, with a questioned elevation of 3,133 m, is the highest point in Saudi Arabia,
Sand dunes: A dune is a hill of loose sand built by wind or the flow of water. Dunes occur in different shapes and sizes, formed by interaction with the flow of air or water. Most kinds of dunes are longer on the windward side where the sand is pushed up the dune and have a shorter "slip face" in the lee of the wind. The valley or trough between dunes is called a slack. Empty Quarter:name for a vast sand sea spread across Saudi Arabia, Oman, Yemen, and the United Arab Emirates. Extending over 660,000 square kilometers (255,000 square miles), this is the world's largest erg.
Page 1: Loan waivers are on you, Finance Minister tells States. 13 June 2017 On Farm Loan waiver: The situation where the Centre will help one State and not the others will not arise. On bad loans: Reserve Bank of India is at an advanced stage of preparing a list of debtors whose cases will be considered for speedy resolution through the Insolvency and Bankruptcy Code (IBC) process. .There are five stages after the company fles a Bankruptcy petition There are five stages after the company files a Bankruptcy petition; One, when a loan default occurs, and either the borrower or the lender approaches the NCLT or DRT for initiating the resolution process. Two, the creditors appoint an interim Insolvency Professional (IP) to take control of the debtor's assets and company's operations, collect financial information of the debtor from information utilities, and constitute the creditors' committee Three, the committee has to then take decisions regarding insolvency resolution by a 75% majority.
Four, once a resolution is passed, the committee has to decide on the restructuring process that could either be a revised repayment plan for the company, or liquidation of the assets of the company.If no decision is made during the resolution process, the debtor's assets will be liquidated to repay the debt. Five, the resolution plan will be sent to the tribunal for final approval, and implemented once approved. . It proposes creating new institutions: Insolvency Professionals, who will conduct the insolvency resolution process, take over the management of a company, assist creditors in the collection of relevant information, and manage the liquidation process, * Insolvency Professional Agencies, who will examine and certify these professionals, Information Utilities, which will collect, collate and disseminate financial information related to debtors, and Insolvency and Bankruptcy Board of India, a regulator that will oversee these new entities.
Page 7: Panel to study free movement along Myanmar border [Internal Security] The Union Home Ministry has constituted another committee to examine methods to curb the misuse of free movement along the Myanmar border, indicating a significant shift in India's policy towards Myanmar. A Committee headed by Rina Mitra, Special Secretary-Internal Security, was being constituted to examine the present rules and regulations adopted by the border States for implementation of free movement regime In 2015, a High-Level committee report submitted by Joint Intelligence Committee R.N. Ravi the government to replicate the model prevalent in villages and areas along the Bangladesh border The report has suggested dedicated crossing points in border villages, where policemen would be made in charge of regulating the movement of people. o India and Myanmar share an unfenced border of 1,643 km. . Inda and Myanmar share an unfenced border of 1643 km.
Index of Industrial Production expands 3.1% in April, output slows from 3.75% pace in March. 13 JUNE 2017 . Pharma sector: Growth in the Index of Industrial Production (IIP) was spurred by the manufacturing sector within which the tobacco and the pharmaceuticals sectors grew the fastest. . 2012 recommendations of the Saumitra Chaudhury committee: One, the new IIP measures output for the basket of goods produced in base year 2011-12 instead of 2004-05. It has been updated by sweeping 149 new items into manufacturing, while pushing out 124 obsolete ones. This should have the effect of bolstering lIP growth g lP growth. .Two, the index is now more broadbased, includes renewable energy, and introduces a new sub- group infrastructure and construction. This will significantly trim the weight of consumer products in the lIP and add to the weight of industrial goods. The decision to count work-in-progress in capital goods will hopefully smooth out the wild swings in this sub-index.
Page 7: What ails the Navigation Indian Constellation What is NavlC? [G.S.Paper-3:Science and Technology- developments and their applications] Navigation Indian Constellation (NavlC) is an independent Indian satellite-based positioning system for critical national applications. The purpose is to provide reliable position, navigation and timing services over India and its neighbourhood. NavlC consists of a constellation of seven satellites. Three of the satellites are in a geostationary orbit and four in a geosynchronous one. This means they will be visible at all times in the Indian region. . All the seven satellites of NavlC, namely, IRNSS-IA, IB, IC, ID, IE, IF and IG were successfully launched
Page 10: Yechury calls for annual MSP law CPI(M)'s Sitaram Yechury has called for a legislation mandating the Union government to fix an annual Minimum Support Price (MSP) for all agriculture products, which should be one and half times of the production cost. .Loan waiver is a temporary relief. Only a law to revive MSP annually will bring a permanent solution for the farmer's problem, he said. . The loan waiving was a promise given by Prime Minister Modi in his election manifesto. But he betrayed the farmers. He also promised to revive MSP in accordnce with Swaminathan Commission recommenda- tion. But has not implemen- ted both promises. abdication of the responsibility, he noted. farmers, the food producers of the country.And they betrayed the youth too." . The Centre is now asking the State governments to find funds for loan waiving. This is a strange . "We would like to ask the Modi government what they are celebrating.They betrayed the nt what they are celebrating They betrayed the
Business: New labour survey to generate quarterly and annual data . The Ministry of Statistics and Programme Implementation has started a Periodic Labour Force Survey, which will provide quarterly labour and employment data for urban India and annual data for rural India. . Introduced in April 2017, this survey will supersede the earlier system where such data was available only every five years. CAPI method Interviewing (CAPI) method, with field operators using tablets to enter the data. This would . It would supply data not only about the formal sector, but also about the informal sector. . The Periodic Labour Force Survey will also incorporate a Computer Assisted Per- sonal generate more accurate and timely information
India ratifies ILO pacts on child labour: India ratified two core conventions of International Labour Organisation on child labour: [I]Minimum Age Convention, 1973 (No 138) and the Worst Forms of Child Labour Convention, 1999 (No. 182). [G.S. Mains-2 Polity and Governance] . India is the 170th ILO member state to ratify Convention No 138, which requires states party to set a minimum age under which no one shall be admitted to employment or work in any occupation, except for light work and artistic performances. . Similarly, India became 18lst member state to ratify Convention No 182, which calls for the prohibition and elimination of the worst forms of child labour, including: [i] slavery, forced labour and trafficking; [ij the use of children in armed conflict; [iilthe use of a child for prostitution, pornography & in illicit activities(such as drug trafficking); and [iv]hazardous work.
Page-1: Cabinet-clears 5% interest subvention for crop loans. Short-term crop loans up to 3 lakh will receive a subvention of 5%, effectively reducing the rate for farmers to 4%. Amount earmarked The government has earmarked a sum of 20,339 crore for this. The interest subvention scheme will continue for one year and will be implemented by the National Bank for Agriculture and Rural Development (NABARD) and the Reserve Bank of India. -Farmers will thus have to effectively pay only 4% as interest. Short-term loan: Farmers unable to repay the short-term crop loans on time will receive an interest subvention of 2% . The scheme has been running since 2006-07, under which farmers are eligible for interest subvention of 2% for crop loans of up to 13 lakh A subvention of an additional 3% is given in the case of prompt repayment within a period of one year from the date of advance.
Page l:Bid to remove Justice Reddy fails again. 1 6th june TG.S. Mains Paper 2: Polity] . For the second time in six months, a motion to intro- duce proceedings to remove Justice C.V Nagarjuna Reddy of the Hyderabad High Court has failed. Nine of the 54 members of the Rajya Sabha, who had proposed the initiation of proceedings against him, have withdrawn their signatures. Proceedings to remove a judge, which require an ad- dress to the President by a special majority of both Houses of Parliament, cannot be initiated without the signatures of at least 50 members of the Rajya Sabha or 100 members of the Lok Sabha. . If such a motion gets admitted in a House, a three-member committee investigates the charges. If it finds the judge guilty of misbehaviour or incapacity, the House in which the motion was initiated, must pass it with a two-thirds majority, followed by a similar passage by the other House. [Article- 124(4):217] Question: If such judges are being appointed through collegium process, that means something is amiss with collegium and if that is the case, why did Judiciary repeal NJAC in Oct. 2015?
Page 7: Former Chief Justice of India P N. Bhagwati, considered a pioneer of judicial activism died. urt judge, Bha the Indian judicial system. He is therefore held to have pioneered judicial activism in the country Habeas corpus case: A controversial judgment of Bhagwati was in the ADM Jabalpur v. Shivkant Shukla case (popularly referred to as the ADM Jabalpur case or the habeas corpus case) where he decreed that during Emergency, a person's right to not be unlawfully detained (Habeas Corpus) can be suspended. This judgment received a lot of criticism since it reduced the importance attached to Fundamental Rights under the Indian Constitution. . Bhagwati later agreed with popular opinion that this judgement was short-sighted and apologised" for the same.
Page 1 1: . The GST Council has proposed to levy GST ranging from 5% to 18% on a range of equipment [l] Disability rights groups protest GST.[GSP-2: Welfare] used by PWDs. Pointing out that many of the items are beyond the reach of the common PWD, the note stated that levying GST on them "militates against the spirit and man- date of the Rights of Persons with Disabilities Act, 2016, which obliges the State to provide all aforesaid assistive devices either free or at affordable cost.  India refutes Pak.claims of Russian mediation.[GSP-2: I.R.] Moscow's position on Indo-Pak. talks remains 'unchanged" The differences between Islamabad and New Delhi should be resolved by them on a bilateral basis in accord- ance with the provisions of the Shimla Agreement of 1972 and Lahore Declaration of 1999 For Daily News & Editorial Analysis,you can follow me on Unacademy https://unacademy.com/user/studiousjatin For Daily News & Editorial Analysis,you can follow me on Unacademy https//unacademy.com/user/studiousjatin
Page 7: ISRO set to launch back-up satellite. The PSLV C39 mission, scheduled for late July or early August, will carry the new satellite named IRNSS-IH into orbit. . IRNSS-IA is the first of the seven satellites comprising the Navigation Indian Constellation (NavlC), a multi-purpose satellite- based positioning system, envisaged as India's alternative to the American GPS. NavlC has been designed to support vehicle tracking, fleet manage- ment, disaster manage- ment and mapping services besides terrestrial, marine and aerial navigation for India and its neighbourhood The A-Train
. Page 14 Business: Centre speeds up insolvency process Bankruptcy Board notifies norms to fast track resolution proceedings for corporate debtors The Insolvency and Bankruptcy Board of India (IBBI) has notified norms for fast-tracking insolvency resolution process for specified category of corporate debtors. . This will include small companies. start-ups (other than partnership firms),or unlisted companies with total assets not exceeding crore The process in these cases shall be completed within a period of 90 days, as against I80 days in other cases . India was ranked 1 36th out of 190 countries in the indicator 'resolving insolvency' in the last edition of the World Bank's (ease of) Doing Business Report. . In a bid to improve this ranking, the government had carried out the reform of bringing in the IBC and the new elements of the Indian corporate insolvency ecosystem - including the National Company Law Tribunal (NCLT) and its appellate body as well as the Insolvency and Bank-ruptcy Board of India. For Daily News & Editorial Analysis, you can follow me on Unacademy https://unacademy.com/user/studiousjatin