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Home » 6 DEC 2017 IMPORTANT CURRENT AFFAIRS ANALYSIS

6 DEC 2017 IMPORTANT CURRENT AFFAIRS ANALYSIS

Note:  The following Current affairs has been selected from AIR, PIB, PRS, BBC, The Hindu, IDSA (Institute for Defence Studies and Analyses), Live mint, Indian Express, Quora.com, Hindustan Times, Telegraph, The Times , WTO, New Indian express , The Guardian and is highly recommended for UPSC Prelims and Mains Examination

                                                     News Analysis: 6-12-2017

National News:

General Studies-II : Indian Constitution- historical underpinnings, evolution, features, amendments, significant provisions and basic structure.

SC calls for regulating hefty fees of lawyers

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The astronomical fees charged by lawyers and the commercialisation of the legal profession is a violation of the fundamental right of the poor to get equal justice

 Neither the Bar nor the judiciary have made any move to regularise the hefty fees charged by lawyers from the poor and the needy.

 Art. 39-A: Added to the Constitution by 42nd Amendment, 1976, this article requires the state to provide for equal justice and free legal aid. In pursuance of this article, Parliament has passed the Legal Services Authorities Act, 1987.

Source- The Hindu

 

General Studies-II : Statutory, regulatory and various quasi-judicial bodies.

New India formula? — on the 15th Finance Commission

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The Finance Commission defines the financial relations between the central government of India and the individual state governments.

Challenges in front of the 15th Finance Commission:

  • Union’s fiscal situation
  • Need for resources for essential spending in areas such as defence, security, infrastructure and climate change
  • Centre seems to be seeking a rollback of the 42% share for States
  • The rollout of the goods and services tax makes the challenge trickier
  • The Centre is committed to compensating States for any revenue losses arising out of GST implementation till June 2022, thus covering nearly half the period for which the Commission is to recommend a formula

Source- The Hindu

General Studies-II : Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

 

Govt. announces ₹8,450 crore package to boost exports

The government on Tuesday announced incentives worth ₹8,450 crore to boost exports of goods and services — mainly from labour-intensive segments and the Micro, Small and Medium Enterprises — and to increase employment generation and value-addition. The incentives were announced as part of the mid-term review of the Foreign Trade Policy (FTP)

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‘Extend trade policy sops to all exporters’

  • The Federation of Indian Export Organisations (FIEO), the apex body for exporters in the country, on Tuesday suggested that the government should extend incentives announced under the Foreign Trade Policy (FTP) to all the goods exports sectors.
  • Currently, the incentives cover about 8,000 of the approximately 12,000 tariff lines. The Merchandise Exports from India Scheme (MEIS) should gradually be extended to other sectors of exports since they are also facing numerous challenges in exports
  • The 2% increase in the MEIS rates granted in the FTP mid-term review to labour intensive sectors would provide the much-needed respite to these sectors.
  • The two-pronged strategy adopted by the government in its FTP mid-term review to promote new and sunrise sectors along with employment-intensive segments would help create more jobs as well as enter new areas of exports
  • The trust-based approach as reflected in the new self-ratification scheme for duty-free import of raw materials. It will greatly help in expediting export of a number of important products such as engineering, pharmaceuticals, chemicals, textiles and high-tech products

 

Source-PIB

General Studies-III- Indigenization of technology and developing new technology.

Akash test-fired successfully

India on Tuesday successfully test-fired Akash, its supersonic surface-to-air missile

 

Akash is a medium range surface-to-air missile developed as part of India’s Integrated Guided Missile Development Program to achieve self-sufficiency in the area of surface-to-air missiles.

Source-PIB

 

General Studies-III- Indigenization of technology and developing new technology.

Godrej Aero gets new BrahMos order

Godrej Aerospace, a unit of Godrej & Boyce Mfg. Co. Ltd., has won an order for an additional 100 units of airframes for the air launched version of BrahMos missile.

Description: Image result for Brahmos

About BrahMos:

  • The missile is named after two rivers, the Brahmaputra and the Moskva.
  • Joint venture between the Russian Federation's NPO Mashinostroeyenia and India's Defence Research and Development Organisation (DRDO).
  • It is two-staged missile with solid propellant booster engine as its first stage which brings it to supersonic speed.
  • The liquid ramjet or second stage takes the missile closer to 3 Mach speed in cruise phase.
  • It operates on “fire and forget” principle.
  • India has been able to work on increasing the range of the BrahMos missile from its current 290 km after it became a member of the prestigious Missile Technology Control Regime (MTCR).

Source- The Hindu

International Issues:

General Studies-II : Important International institutions, agencies and fora, their structure, mandate.

Fight for market economy status

Last week, the U.S. protested at the World Trade Organisation against China’s bid for recognition as a market economy.

 Its opposition is a counter to China’s 2016 legal challenge against the U.S. and the European Union, both of which refuse to accord China the coveted status it wants.

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Why the U.S. is blocking China’s bid

  • Use of state subsidies in China distorts market prices
  • Western resistance to accord China the necessary recognition is rooted in concerns over a glut of Chinese imports flooding domestic markets and causing job losses

China's stand:

  • Domestic prices are determined by open competition rather than by the government.

Why china wants market economy status?

  • The protocol to China’s 2001 WTO entry has been a subject of controversy. Beijing insists that under Section 15 of the Protocol of Accession, the country’s upgrade as a market economy was automatic on the completion of 15 years of its WTO membership in 2016.
  • Major trading powers treat China as a non-market economy, they would insist on ascertaining the value of goods with reference to prices in a third country to ensure that domestic firms did not gain an unfair trade advantage.
  • Help China counter attacks of unfair dumping.

Way Forward:

  • Section 15(1)(i) places the onus on Chinese firms to prove that they were operating under conditions of a competitive market economy in the manufacture and sale of relevant products.
  • If they fail to do so, the Section provides that importing states would be entitled to invoke rules applicable to a non-market economy while probing firms for dumping.
  • Clause allows for the status of market economy to be decided for specific industry sectors, rather than the entire economy.
  • Several nations have endorsed China’s position in return for bilateral cooperation in trade and investments in infrastructure projects.
  • But the Trump administration’s attempts to undermine the WTO’s dispute resolution mechanism could further delay

Source- The Hindu

Other issues in news

RBI cautions public again on bitcoin

Even as bitcoin touches new highs, fuelling investor interest, the Reserve Bank of India on Tuesday warned the public of the risks of virtual currencies (VCs)

Cyclone threat derails Gujarat polls campaign

As Cyclone Ockhi moved closer to Gujarat on Tuesday, inclement weather disrupted the election campaign in the State, with just days to go for the voting. Sporadic rain forced the scrapping of campaign meetings of top BJP and Congress leaders on Tuesday, while also causing the cancellation of Prime Minister Narendra Modi’s rally in Surat on Wednesday.

Ockhi battered Goa’s beaches, caused ₹30-lakh loss: Minister

Panaji - Cyclone Ockhi has battered a dozen beaches along Goa’s 106-km coastline and has caused damages to the tune of ₹30 lakh

 

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