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Sunday Weekly Review
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Most Important News for the week 31st July to 5th August 2017

Jatin Verma is teaching live on Unacademy Plus

Jatin Verma
Have appeared in UPSC CSE thrice. Have been taking Unacademy Plus courses Academics- Polity, Economics & Current Affairs.

Unacademy user
thank you very much to your valuable guidance.Hindu paper analysis which makes us time save for preparation.but please do the favour to the best of your knowledge you can discuss about egovernance in contemprory situation.
hi Jatin, what according to you is the best way to make notes for your lessons. all, Dna, editorial and PIB? also, why do you guys don't allow ppt download. I do mrunal economics, and it's so much more easier to revise with the ppts...
Jatin Verma
2 years ago
Mental notes..... Try enhancing your retaining power by being regular. That is all I can say.
Bhimu Thate
2 years ago
Jatin sir but after some days its find quite difficult to recall
Bhimu Thate
2 years ago
sir you present a lesson with ossum material, we want to keep it as notes and revise it frequently.
Akshay kashyap
2 years ago
Thanks ! Thats a goo suggestion..
Whether it is good or not but it is d only suggestion for anything to be read and retain..
no dna analysis for 2 days?? please sir dont stop to make such precious video.
why the daily news analysis is not coming from last two days on unacademy sir???
Sir , please upload DNA and editorial analysis of 6th and 7th August
sir please come back,,,,,,we are waiting for your analysis :)
  1. SUNDAY WEEKLY REVIEW DAILY NEWS ANALYSIS 31st July To 5th August 2017 By JATIN VERMA Educator Unacademy For Daily The Hindu News & Editorial analysis- Visit my Unacademy profile-

  2. Page-l: Regulator turns up heat on erring CAs [3 1- July 2017 . The Institute of Chartered Accountants of India (ICAI) has said 4,445 complaints have been registered against CAs as on June 30 this year,and punishment has been awarded in 402 cases until March 2017. . This development comes within a few weeks of Prime Minister indicating stringent measures against those involved in money laundering- including through shell companies-following demonetisation, and asking the ICAl to hasten action against CAs helping tax evaders. . The ICAl is under the Corporate Affairs Ministry's administrative control. . While he asked the auditors to help end black money and corruption, he sought to know from the ICAl why in the last II years, it had taken action against just 25 erring members. . Steps taken so far:'New Disciplinary Mechanism' was instituted in November 2006 & till this June- end, as many as 3,810 cases were registered against CAs. Solution: There is a need for amending the concerned rules/ regulations to expedite disciplinary action against the wrongdoers,adding that the ICAl had submitted interim recommendations to a High Level Committee formed by the Corporate Affairs Ministry for strengthening the disciplinary mechanism . Parliamentary nod . He said amendments to the CA Act would require Parliamentary nod, adding that the Centre had the power to amend the Rules including the Disciplinary Rules (framed under the CA Act).

  3. Page-7:5 Chemicals banned from firecrackers. [I AUGUST] [G.S Mains Paper 3: Environment & Ecology; Prelimsindia Year Book Supreme Court prohibited the use of five chemicals, labelled as toxic by the Central Pollution Control Board (CPCB), in the manufacture of firecrackers . Antimony, lithium, mercury, arsenic and lead in any form. e It is the responsibility of the Petroleum and Explosive Safety Organisation (PESO) to ensure compliance. . The court asked the CPCB to clarify on the use of strontium, another chemical branded toxic by the pollution body, in fire- crackers. Petroleum And Explosives Safety Organisation formerly Department of Explosives, comes under, Ministry of Commerce and Industry, Department of Industrial Policy & Promotion.The agency issues licenses for Operation of Petrol Stations. HQ at Nagpur It deals with matters relating to safety in manufacture, storage, transport and handling of explosives, petroleum, compressed gases and other hazardous substances through comprehensive administration of: -Explosives Act, 1884, -Petroleum Act, 1934, -Inflammable Substances Act, 1952 and Rules:Calcium Carbide Rules, 1987 & Cinematographic Films Rules, 1948

  4. Page-7: Drug-smuggling route reveals itself again. [G.S. Mains Paper-3: internal Security] [I AUGUST] seas off India and Pakistan, which is easily accessible from several countries, for running their rackets. heroin and other drugs come down from Afghanistan and is loaded into fishing One of the world's biggest drug smuggling routes, spread across Afghanistan, Pakistan and the Indian Ocean, with recipients spread in several countries, has revealed itself yet again with the seizure of 1,500 kg of heroin worth over 3,500 crore off Gujarat coast. For the past many years there have been several intercepts, occasional seizures and significant suspicious boat movements to reaffirm the intelligence assessment about the massive flow of HOW DRUGS FLOOD IN drugs from Afghanistan into the Indian Ocean, and its distribution to the rest of the world Drug syndicates have been exploiting the vast THE GOLDEN CRESCENT INDIA THE COLDENTRIANGLE

  5. Page-10: Roll-out of GM mustard will be challenged, says SC. [I AUGUST] IG.S. Mains Paper-3:Agriculture- Food Sustainability] The Supreme Court said a government decision favouring a commercial roll-out of genetically modified (GM) mustard seeds will not go unchallenged. . A Bench of SC noted that the court would hear pleas highlighting the health hazards involved in case the government frames a policy favouring the release of GM mustard seeds into the market. In short, such a policy would have to survive judicial scrutiny Page-I l:LPG prices to be hiked by 54 every month [G.S. Mains Paper-3: Subsidies] The government has ordered State-run oil companies to raise the price of subsidised cooking gas (LPG) by a cylinder every month to eliminate all subsidies by March next year. The government had previously asked Indian Oil, Bharat Petroleum and Hindustan Petroleum to raise rates of subsidised domestic LPG by 32 a 14.2-kg cylinder per month (excludingVAT). . Now, the quantum has been doubled to bring down the subsidy to nil On July I, rates were up by a steep 32 per cylinder the steepest increase in six years. This hike reflected the higher tax rates under the GST regime.

  6. II AUGUST] The total subsidies include food subsidy, fertiliser subsidy, petroleum subsidy, interest subsidies and many others. Food, fertiliser and petroleum: subsidies are the three major subsidies constituting currently 88.3 per cent of the total budgeted estimates for 2017/18. Of this, food subsidy accounts for the largest chunk of the total subsidy. The share of food subsidy as a per cent of total subsidises has been constantly rising over the past five years, with an exception in 2015-16 when the revised estimates of food subsidy as a per cent of the total inched down compared to 2015/16. ched down compared to 201 9% 9% Food subsid Fertil!izer subsidy s3% 26% Petroleum subsidy Interest Subsidies Other subsidies Subsidies as a % of total subsidises

  7. Page-I I: National Commission for Socially and Educationally Backward Classes (NSEBC [G.S. Mains Paper-2:Constitutional Bodies; Social empowerment] . The government faced embarrassment in the Rajya Sabha as many MPs from the ruling BJP were missin when a Bill granting constitutional status to the Other Backward Castes (OBC) Commission came up for amendment. The Constitution (123rd Amendment) Bill to grant constitutional status to the National Commission for Backward Classes (NCBC) It gives the Commission the power to investigate complaints and powers equivalent to that of a civil court. . The Bill already cleared by the Lok Sabha, was passed in the Rajya Sabha without Clause-llI, regarding the composition of the committee. . Congress MPs moved an amendment to Clause that a woman from the backward community and a member from the minority community be included in the OBC Commission When the amendment was put to vote, it received 74 votes and 52 MPs voted against it. Composition of NCBC: Mr. Jaitley said there was already a women's commission and a minority commission and the OBC Commission's formula was the same as the SC/ST Commission brought by the UPA government in 2004. Like the NCBC, the new body too will comprise of a chairperson, a vice-chairperson and three other members II AUGUST]

  8. . Background & Analysis[ I AUGUST]Source: Livemint March 2017 According to Indira Jaising, the new body is likely to be similar to the National Commission for Scheduled Castes under Article 338 and the National Commission for Scheduled Tribes under Section 338A which were introduced in the Constitution by way of two constitutional amendments in 1990 and 2003. . In the case of Indra Sawhney versus Union of India, the Supreme Court in 1992 found that it was not invalid to identify a group by any criteria like occupation,social, educational or economic situations .However, it noted that social and educationally backward class under Article 340 had to be construed in a limited sense and did not have the wide sweep as under the fundamental right guaranteed to backward classes in Article 16(4). . This provision empowers the government to make reservations in appointments in favour of any backward class of citizens". . Article 340: Appointment of a Commission to investigate the conditions of backward classes

  9. Rejected Apple's demand for duty rebate: Centre [I AUGUST] TG.S. Mains Paper-3: FDI; Local Sourcing; Make in India] Apple has started local manufacturing of iPhone. . The Govt. has not accepted the requests for a rebate in customs duty on equipment imported to manufacture mobile phones, including iPhone. What is the FDI Policy for Mobile phones and Laptops? Foreign investment up to 100% is permitted for a company engaged in the business of manufacturing mobile phones. . As regards local sourcing requirement,in the case of "state-of-art" and"cutting-edge technology", sourcing norms could be relaxed subject to government approval. To promote domestic manufacturing capacities and value addition, this relaxation would be valid for three years from the opening of the first store, and thereafter, such entities would be required to meet the domestic sourcing norms. . However, the government received representations seeking concessions on 30% local sourcing of components and duty exemption on manufacturing and repair units, components, capital equipment and consumables.

  10. . Business Page l 3: Core sector growth slows to 0.4% in lune[ 1 AUGUST] TG.S. Mains Paper-3: Indian Economy-Sectors of Economy] The year-on-year growth of the core sector has slowed to 0.4% in June from 3.6% in May and 6.92% in June 201 6-owing to a decline in output of coal, refinery products, fertilizer and cement. The performance in June is the lowest since the growth of O. I 8% in November 2015. . The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (lIP). The Base Year of the Index of Eight Core Industries has been revised from the year 2004-05 to 2011-12 from April, 2017 The industries covered in the Index of Eight Core are namely Coal, Crude Oil, Natural Gas Refinery Products Fertilizers, Steel, Cement and Electricity. The revised basket of Eight Core Industries is aligned to the new series of lIP (2011-12) as far as possible.The revised Eight Core Industries have a combined weight of 40.27 per cent in the IIP.

  11. Page-l: Panel to draft data protection Bill, Government tells Supreme Court[2 AUGUST] . Highlighting the need for a comprehensive law on data protection, the Unique Identification Authority of India (UIDAI) informed a nine-judge Bench of the Supreme Court that the Centre has constituted a committee of experts, led by former Supreme Court judge, Justice B.N. Srikrishna, to identify "key data protection issues" and suggest a draft data protection Bill UIDAI also said privacy is not a fundamental right; privacy is subjective and dependent on human behaviour. Any attempt by the court to robe it in the status of a fundamental right would damage the nation and stymie the government's efforts for goodgovernance. .For progressive laws Justice Nariman said that laws should reflect the "felt needs of the times" and protect the citizens from violations by the State and non-State players He said it was the duty of the court, and not the legislature, to interpret the law. He pointed out that privacy can indeed be read into the Constitution as a fundamental right as India is part of the United National Declaration of Human Rights of 1948, which declares privacy as an inalienable human right. . But Mr. Mehta, pointing to the prolonged Aadhaar litigation in court, submitted that "if ever privacy is made a fundamental right, all-out attempts would be made to stay government's efforts at good governance" . [Please Note: Justice B.N. Srikrisna also headed a High level committee to review Institutionalization ofArbitration Mechanism in India]

  12. Page l:lt's easier to buy than rent small homes, [2 AUGUST] performance of these schemes] .Lower interest rates and stagnant property prices, in combination with the interest subsidy under the Pradhan .With interest rates falling in the last 15 months, EMIs for small and medium ticket home loans in some cases According to bankers, for a home loan of325 lakh, when the current interest rate of 85-9% is coupled with Welfare schemes for vulnerable sections of the population by the Centre and States and the Mantri Awas Yojana (PMAY), have markedly improved the economics for home buyers. have fallen below the rent paid for the same property the subsidy benefit under the PMAY, the real interest rate for a home buyer with an income of 12 to RI8 lakh per annum works out to just 4%, after adjusting for tax benefits. The subsidy amount would be higher if the income is lower. The PMAY is available for first time home buyers with a family income up to? 18 lakh and for property size up to 110 square metres (1,100 sq. ft. carpet area). For buyers whose household income is not more than 70 lakh per annum and who are, therefore, eligible for the 6.5% interest rate subsidy under the PMAY, this is clearly the right time to consider buying a property by availing of a small ticket housing loan.

  13. Page-5: GI tag need of the hour, feel Chirala silk weavers. [2 AUGUST] [G.S. Mains Paper 1 & 3: Impact of Globalisation . Weavers of Chirala in Andhra Pradesh feel a Geographical Indication (GI) tag for their impressive silk sari . Having carved a niche for themselves in making the unique silk saris, they feel they wil be assured of a . The saris cannot be reproduced by computer- aided design and embroidery units. . Unequal competition: However, the weavers struggle to eke out a decent living in the face of unequal can help them compete better and survive in the era of globalisation. decent profit margin if they get the tag. Chirala gets the name from the word 'chira' (sari). competition from power loom players. As a result, they have quit manufacturing lungis, dhotis, and blankets. Impressed with the improvement in the living conditions of their counterparts in Mangalagiri, who have got the GI tag for their product, they want the Andhra Pradesh government to facilitate the GI tag for the value- added silk saris they produce to improve their visibility in the Global market.

  14. * Business Page: Manufacturing PMI at 47.9, records steepest contraction since Feb. '09 . Manufacturing activity in July slowed to 47.9, the lowest level since February 2009, according to the Nikkei Manufacturing Purchasing Managers' Index, due almost entirely to the introduction of the Goods and Services Tax on July 1 . The reading was significantly lower than the 59.9 seen in June. A score above 50 implies an expansion of activity while one below 50 denotes a contraction. Impact of GST: PMI survey data indicated that the introduction of the goods & services tax (GST) weighed heavily on the Indian manufacturing industry in July New orders and output decreased for the first ime since the demonetisation-related downturn recorded in December last year, with rates of contraction the steepest since February 2009 in both cases. What is the Purchasing Managers' Index -PMI' The Purchasing Managers' Index (PMI) is an indicator of the economic health of the manufacturing sector. The PMI is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment. The purpose of the PMI is to provide information about current business conditions to company decision makers, analysts and purchasing managers. [2AUGUST]

  15. Page-1: Illegal miners must pay back in full: Supreme Court. [3 AUGUST] Supreme Court directions: [1] Mining companies and leaseholders who have engaged in mining activities without forest or environmental clearance will have to pay the public exchequer compensation equivalent to 100% value ofthe minerals they extracted illegally. [ [2] The court gave the Centre a deadline of December 31, 2017 to announce a "fresh and more effective, meaningful and implementable policy. [3] The court set 2000-2001 as the base year from which the 100% compensation would be calculated. It said the recovery should be as per Section 21 (5) of the Mines and Minerals Act. This particular section provides that if a person extracts a mineral without lawful authority, the State may recover the mineral or the price of the mineral, rent, royalty or tax from him. [4] In calculating the 100% compensation, any payments earlier to the exchequer as damages or for afforestation will not be taken into consideration. . Explaining the term 'illegal mining', the court reinforced the Environment Impact Assessment (EIA) notifications of 1994 and 2006, which provides for mandatory environmental clearance in case of expansion in mining activities and if the leased area for mining is five hectares or more, respectively

  16. Page-I : RBI cuts repo rate by 25 bps to 6%, lowest in over 6 years [3 AUGUST] . 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 RBI 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.

  17. Page-7: Prices of orthopaedic implants to be capped [3 AUGUST,] . 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.

  18. Page-10: Nod for proxy voting for NRIs [3 AUGUST] 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 where they are registered, according to the proposal, they would also be allowed to use the 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.

  19. Page-12 World: Sino-Pak. highway, a one-way street? [3 AUGUST] 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.

  20. While bothc 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%. projectis 3 AUGUSTI CHINA kistan Cninese Border Gilgit Khyber Pakhtunkhwa- PESHAWARISLAMABA Azad Jammu & Kashmir In May, Pakistan accused China of flooding its market with cut rate steel and threatened to respond with high tariffs. Capital Terntory Federally Administered Tribal Areas AFGANISTAN LAHORE Legend e Pakistani businessmen in Xinjiang see few 0 0 benefits from CPEC, complaining of intrusive security and capricious customs arrangements. Balochistan . Over the last year, Beijing has flooded IRAN INDIA Legend: Xinjiang, which has a large Muslim population, with tens of thousands of security personnel and imposed draconian Ptan Terrtory Foreign Terrory Foreign Tertory (Dlepued) Confict Zone Sat Water Body Pro rearemton Boundy Gwadar rules to eliminate "extremism".

  21. . Why having Semi-conductor industry in India is important? [Make in India] [3 AUGUST] Semiconductors form about 30% of the cost of all electronic products, includ-ing mobiles. The setting up of a Semi- conductor Wafer Fabrication unit is a critical pillar required to promote Electronics System Design and Manufacturing (ESDM) in India. As per industry estimates, the Indian ESDM market is expected to grow from $31.6 billion in 2015 to $400 billion by 2020. What are Semi-conductors? Materials that have the resistance levels between those of a conductor and an insulator are referred to as semiconductors. They are quite common, found in almost all electronic devices. Good examples of semiconductor materials aregermanium, selenium, and silicon. . . Semiconductors can be pure elements, such as silicon or germanium, or compounds such as gallium arsenide or cadmium selenide.

  22. Single Transferrable vote Explained: Candidate 1 Party A 1 2 3 Rank any number of options in your order Candidate 2 Party B 1 2 of preference. Joe Smith 1John Citizen Jane Doe Party C Party D Candidate 5 Party E 1 23 Fred Rubble 2 Mary Hil 6 Independent NOTA

  23. Page-7:Red light for Spanish racer's dream run. [G.S.M.-3: ECONOMY INFRA] train from Spain that could have drastically cut journey times appears to have hit a dead end, the government unable to move forward on its plan to rope in Spanish locomotive firm Talgo, despite a successful trial run last year . Railway Ministry committee has highlighted a series of problems with the ambitious project: [i]the inability to enlist a single bidder for a large order size, [i]technical changes to train design, and [ii]high lease costs The Indian Railways had conducted trials of Talgo coaches last year to validate their speed potential and examine the time saved for a journey between New Delhi and Mumbai. . This was the first time that the Indian Railways had allowed a foreign train company to conduct a field trial on its tracks. . Indian Railways had also considered leasing four Talgo trains. But that, too, would be subject to a tendering process. Talgo says, it didn't conduct such a big and successful trial to lease just four trains. Our target is to manufacture in India. Incidentally, the Indo-Spanish joint statement issued after Prime Minister's visit to Spain in May 2017 didn't mention Talgo's successful trial run.

  24. Page-ll: Centre mulls changing minimum wages formula. [G.S. Mains-2: Governance: Government policies and interventions for development in various sectors] 4 August 2017 ThelCentral government is mulling a revision in the formula to calculate minimum wages that may increase income levels of workers across the country. The Central Advisory Committee on Minimum Wages, headed by Labour and Employment Minister decided to constitute a committee to deliberate the proposed changes in the calculation of minimum wages for workers. He said the committee would deliberate upon the following factors while recommending a new formula for minimum wages number of units per family, inclusion of dependent parents and treatment of women and children at par with the male family member Norms criteria: The norms to fix the minimum wages are not commensurate for the present day workers. -The norms for fixing minimum wages today are based on recommendations of the Indian Labour Conference - Under it, the minimum wage level for industries is fixed based on spending estimates for a working class family on A standard working class family consists of three consumption units for one earner with earnings of women, in 1957 2,700 calories of food per person, 72 yards clothes, minimum housing rent and education and light and fuel. children and adolescents being disregarded Bharatiya Mazdoor Sangh recommended the government to increase the total units for calculating minimum wages for a family from three to six. However, employer representatives, part of the Central Advisory Board, highlighted the inability to pay higher wage levels in case the formula for minimum wages is revised.

  25. [GSM-2:INTERNATIONALT ugust 2017 Page-12.VVorld N No ews-Latin America: manipulation, says Maduro Venezuelan President Nicolas Maduro defiantly dismissed allegations that official turnout figures for the election of a Constituent Assembly were manipulated, accusing the international software firm behind the claim of bowing to U.S. pressure to cast doubt over the vote. SOUTH AMERICA North Atlantic Ocean According to the opposition, voter turnout was closer to 12 percent, a figure more aligned with the lack of lines that were seen at many polling stations PERU B RAZIL South Pacific ocean . The new Assembly is made up solely of members South Atlantic of Maduro's ruling Socialist Party as the opposition boycotted the vote

  26. Page 13:'Make In India' yet to spur manufacturing,says panel. [GSM-3: Economy] The Parliament's Standing Committee on Commerce has questioned the country's low manufacturing growth despite initiatives such as Make In India, Startup India and FDI reforms that are now more than two years old. Issue: The committee had expressed concerns about manufacturing growth averaging just l .6% in the five years till 2015-16 and a 0.5% contraction in the sector in the first 9 months of FY17, in a report tabled in Parliament this March. Government's Response:In an action taken report tabled in Parliament, the department of industrial policy and promotion (DIPP)has listed out the several measures taken by the government to promote manufacturing and ease the business environment. [I]Make in India initiative aims to make India a hub for manufacturing, design and innovation; [2]Startup India initiative aims to build a strong ecosystem for nurturing innovation to drive sustainable economic growth and generate large scale employment opportunities 3]lt further listed out various FDI policy changes to make India a investor-friendly destination, along with the focus on sprucing up physical infrastructure and easing the process of obtaining clearances for businesses. While expressing appreciation for the measures enumerated by the government, the Committee stressed, as most of these initiatives are now more than two years old and the manufacturing growth has not yet gone to the desired level, the committee has said all obstacles to the 'optimal implementation' of such programs must be removed in a time-bound manner. Question:Analyse the performance of "Make in India" since its launch.

  27. 35 Page 13: Centre pings rating agencies on economy in upgrade push. [GSM-3: Economygust 2017 Parliament's Standing Committee on Commerce asked Department of Industrial Policy and Promotion (DIPP) as to why India's sovereign rating has not improved? Reasons for Indias poor Soverein Ratin eon attracting foreigni (FDI), its [i] Unfavourable debt: While India has done well on attracting foreign direct investment (FDI), its sovereign credit rating has not improved owing to unfavourable debt and deficit indicators [ii] The committee had asked the government to explain the rationale behind rating agencies flagging 'low private investments' as a constraint towards raising the country's rating and whether high FDI flows are not sufficient to improve the country's business outlook. Points from DIPP's Action Taken Report [ATR] submitted to Parliamentary Standing Committee: [I] The Secretary in the Department of Economic Affairs chairs an annual review meeting on India's sovereign rating with agencies, [2] FDI though relevant is only a small part of the overall broad category of external finances [3] The general rating of the country as a whole is deeply influenced by the quality and quantity of public debt, improvement in public finance

  28. . What are Exchange Traded Funds? 5 August 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

  29. 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 [4] 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,

  30. Page-1l: New Bill to allow States to drop no-detention policy 5 AUGUST Ministry of Human Resource Development is looking to introduce a Bill to amend the Right of Children to Free and Compulsory Education Act, 2009, to enable States to do away with the no- detention policy, if they wish. . Twenty-five States had recently agreed with the idea of doing away with or tweaking the no-detention policy wherein a child is not detained till Class 8 to give a boost to levels of learning. . Tamil Nadu, Andhra Pradesh,Telangana and Maharashtra did not ask for a rollback of the policy. . The Centre has thus decided to allow States to take the call and to tweak the RTE Act to enable them to do so. Features: [I] The Bill is expected to permit States to introduce exams in Classes 5 and 8. [2] Students who fail in the exams to be held in March-will be given remedial training and offered another chance to pass in May.Those who still fail will be detained in the same class. Why change: There were complaints that the no-detention policy -aimed at retaining students in school and giving a fillip to education- led to learning levels taking a dip. The planned modification in the RTE Act is expected to arrest this trend. Evidence: Dropout rates till Class 8 are just 496, but they rise to above 20% after that This is because of the no-detention policy.

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