newspaper analysis summary the hindu

Newspaper Must Read Articles of The Day – 13 August 2015

Newspaper analysis from The Hindu bearing
relevance 
to Civil Services preparation

 

Front Page/National

  • India steels itself to face impact of yuan devaluation: China’s central bank has followed up on Tuesday’s devaluation of the yuan by 1.9 per cent with another 1 per cent cut on Wednesday. This is so that Chinese manufactured products become cheaper in the world, and that demand for them increases compared to products from other countries, so that China’s industrial output rises (which will enable Chinese markets to recover). India has responded to this by increasing the import duty on certain steel products (that are imported from China) by 2.5 per cent. Raising this duty means these Chinese-manufactured steel products will no longer become very cheap compared to steel products from Indian manufacturers.
  • Clamour for bringing back Amaravati relics from UK: What are the “Amravati relics”? They are a collection of over 120 masterpieces and artefacts of Buddhist sculptures on display in the British Museum in London. They were excavated by the British and shipped to the UK from Madras in the 1850s. They have gained attention because there have been demands for bringing them back from the UK in light of the Andhra Pradesh government’s plan to attract world tourists to Amaravati, its new capital area, by showcasing its Buddhist heritage.
  • Union govt. staff can expect good news: The Seventh Pay Commission award would result in a 15.79 per cent increase in the salary outgo in 2016-17 for Union govt employees. But this increased money being disbursed by the Centre will have an impact on the fiscal deficit, which the Centre wants to rein in to 3% by 2017-18 from its current level of 3.9%.
  • Rs.300 crore relief package for ryots: In order to save standing kharif crops in the eventuality of drought and deficit rainfall, the Cabinet Committee on Economic Affairs has approved allocation of Rs. 300 crore that will provide diesel and seed subsidy, save horticulture crops and improve fodder supply.
  • Indian sailors get international identity: In a move that could improve the employability of Indian sailors in international shipping, the Union government has ratified the International Seafarers’ Identity Documents Convention, 2003, which will provide for a globally recognised seafarers’ identity document. The smart card will enable the mobility of seafarers across foreign waters and also improve maritime security with a verifiable identification. Many countries require such identification before they grant special facilities to seafarers.
  • Rural job scheme empowered women: A new research has found that the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) reduced poverty by up to a third and gave a large number of women their first opportunity to earn cash income. It also found that children from MGNRES households were likely to obtain higher levels of educational attainment than their non-MGNREGS peers. The major challenge before the programme today is that of “work rationing” i.e. the inability to provide 100 days of work every year to all households who want it.

Opinion/Editorial

  • Choice, identity and privacy: The Supreme Court has once again made it clear that the government cannot insist on the possession of an ‘Aadhaar’ card or number as a precondition for citizens to avail of specified benefits and services. However, the question remains as to whether it is constitutionally okay for the govt to  force citizens to enrol in ANY identification programme that involves submitting personal information and biometric data?
  • Needless escalation: The Supreme Court has been asking the government to expedite the trial of the two Italian marines, but legal issues keep cropping up. For long, it was India’s dithering over whether to invoke a stringent law against maritime terrorism that delayed progress in the case. Italy has now moved the International Tribunal for the Law of the Sea (ITLOS) in Hamburg in what seems to be an attempt to stymie the pending prosecution and cite the interminable delay itself as a reason for the international forum to intervene.
  • Circumventing the Rajya Sabha: The govt is in policy paralysis right now because of the Opposition’s obstructionist approach in the Rajya Sabha (where the govt does not have a majority). So, the Finance Minister has indicated that most of the crucial bills which go to the Rajya Sabha be branded as money bills (on which the Rajya Sabha has little authority) to prevent them from being rejected by that House. But the Rajya Sabha should not be deprived of its legitimate rights through legislative strategems. Must-read.
  • Emulating Singapore’s success: Singapore holds lessons for India in at least in two areas – public sector pay and industrial policy – as it celebrates the 68th anniversary of its independence. Must-read.
  • Thoughts for Independence Day: India’s independence was an iconic moment of the past century. No other country had ever managed to achieve what Satyagraha did, and the world also respected us for it. But compared to other countries for similar achievements, there is very little sense of pride in our country about what our parents and grandparents managed to achieve against all odds.

Economy/Business

  • China devalues yuan again: The value of the yuan is not determined by market forces, but is randomly set by the Chinese govt. Following Tuesday’s 1.9 % devaluation, China further lowered the value of the yuan by 1.6% on Wednesday. These can be seen either as the first steps towards a market-determined exchange rate in China (as recommended by the IMF), or the beginning of a sustained devaluation that will intensify a currency war.
  • Regulate import of used equipment, demands ICEMA: The Indian Construction Equipment Manufacturers’ Association (ICEMA) has urged the Centre to regulate the import of second-hand equipment to protect the domestic sector, amidst fears of China dumping used construction equipment into India, following the yuan devaluation.
  • The rise of UHNIs, the emerging new class: UHNHs (Ultra High Net-worth Households) are those households with a net worth above Rs.25 crore excluding their primary residence. The number of Indian (UHNHs) rose 17 per cent in 2014-15 to 1.37 lakh and has seen a compounded annual growth rate (CAGR) of 22 per cent over the last five years. Business and real estate are key investment drivers for this. New emerging industries armed with disruptive technology (like e-commerce) have created space for a different economy, which has propelled the number of young ultra-rich entrepreneurs. Emerging cities and small towns continue to provide a significant proportion of the UHNH population (about 44 per cent).
  • SITA to facilitate investments in East African countries: The SITA (Supporting India’s Trade and Investment Preferences for Africa) is a project to explore the untapped potential of Indo-African trade. The Confederation of Indian Industry (CII) is the implementation partner for the project in India. The CII has received proposals for five projects in East African countries under the SITA.

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