A CASE OF A MARITIME PRESENCE ADRIFT
Why in news? The International Maritime Organization (IMO), the United Nations agency tasked with regulating shipping, mandated that merchant ships should not burn fuel with sulphur content greater than 0.5% beginning January 1. Prior to the mandate by IMO, there was 3.5% of Sulphur in the fuel It was said to damage the vessels and even causing […]
CONTINUITY AND FISCAL FOLLOW THROUGH: 15TH FINANCE COMMISSION’S INTERNIM REPORT
Why in news? The appointment of the Fifteenth Finance Commission by the President of India under Article 280 of the Constitution was notified on November 27, 2017. It was required to submit the report by October 30, 2019 for five years for the period 2020-21 to 2024-25 Notifications were issued first, on July 27 extending […]
NEED OF THE HOUR: PROTEST AND CAA
Why in news? As protests continue to ripple in many parts of the country against the Citizenship (Amendment) Act, 2019, or the CAA, the National Population Register (NPR) and allied issues, their nature, content and direction have drawn critical attention The discriminatory CAA targets Muslims, but the protests were driven by the wider civil society at […]
FALLING SHORT OF ASPIRATIONS
Why in news? Expectations from the Union Budget 2020 was that it would reverse the falling growth rate, reduce unemployment and rekindle the animal spirits needed to revive private investment. Bonds and startups The fundamental problem of infrastructure finance is the asset-liability mismatch which can be addressed only by developing a vibrant ‘corporate bond market. […]
NO ROOM FOR PANIC
Why in news? The Emergency Committee convened by the World Health Organisation (WHO) on January 30 has declared the novel coronavirus outbreak in China as a ‘public health emergency of international concern’, a development that comes after its meeting for the second time in just a week More about the virus? The virus, that has been infecting […]
COGNIZANT OF CONSTRAINTS
Why in news? he interim report of the 15th Finance Commission, tabled in Parliament on Saturday, has largely preserved the devolution mathematics of its predecessor, belying concerns of a sizeable cut in States’ share What has the commission said? The commission has recommended a one percentage point reduction in the vertical split of the divisible pool of […]
A JOLT TO NATIONAL ENERGY SECURITY
Why in news? The Finance Minister announced the reform of power tariff policy — announced as part of the stimulus package following the pandemic. DISCOM troubles These proposals have to be seen in the context of a continuing centralisation of control over the sector whose main impact in the last 25 years has been to […]
HOW THE FINANCIAL PACKAGE IS THE SILVER LINING?
India’s Economic Position India as a resilient economy ranks 59th. For a country that is fifth largest in terms of GDP, this rank of being only the 59th most resilient Economy shows that we need to revisit our economic principles. Reasons for India’s Low Resilient Economy Ranking: Measure Taken I – Productivity MSMEs feared regulatory measures […]
REFORM WHO
Why in news? With the 73rd World Health Assembly – the decision-making body of WHO- – taking place through Videoconferencing, the Covid-19 pandemic is taking centre stage. Call for Action: Investigate COVID-19 WHA is taking up a motion backed by more than 120 countries, including India, that calls for a “stepwise process of impartial, independent […]
LESSONS FROM THE GREAT DEPRESSION FOR INDIA
Introduction The Great Depression, which gripped the United States (US) in the 1930s, is being discussed in the context of the economic aftermath of Covid-19. The economic downturn began in the US around the end of 1929, with a sharp dip in production and GDP, and a sharp increase in unemployment. Production also dropped significantly […]