Front Page

• CSK, RR owners out of IPL for 2 years: Serious interview preparation for anybody who plans to mention anything involving the word “cricket” in their forms. Plus, other people should also read to get a general idea of what has happened, because larger questions about corruption in sports governance (the BCCI is a national body) could also be asked.

• Iran reaches historic nuclear deal: The P5+1 powers have clinched a historic deal on with Iran that ensures Iran does not build the nuclear bomb, while its economy opens up and trade resumes with the rest of the world. But while the trade sanctions have been lifted, the arms embargo on Iran is to continue for five more years.

Opinion/Editorial

• A remarkable achievement: The nuclear deal reached between Iran and the six world powers is a historic step forward that solves an over-a-decade-long stand-off between Iran and the West. Now, if the US-Iran hostility can be transformed into cooperation, and Tehran is allowed to claim the economic and diplomatic status it deserves, that could have a real positive impact on several conflicts in the region.

• The game matters most: The entire IPL episode, for which two franchisees have been suspended for two years, has brought to light the manner in which the BCCI has functioned as an opaque club of administrators who have treated the game as their personal fiefdom. The BCCI suffers from obvious credibility deficit, and if it would have taken action against the erring parties on its own, the Supreme Court would not have felt the need to step into the matter.

• Where is the caste data: A history of the Socio-Economic and Caste Census right from its initiation. Read if you do not know the history.

• Ufa and civil-military relations in Pakistan: An article by a Pakistani journalist about their civilian government’s rationale for the joint statement with India at Ufa and their military’s response to it, about how Pakistan’s all powerful military has felt the need for engaging with the civilian government, and about how Pakistan’s role has changed in light of its geopolitical location to Afghanistan.

National

• River linking crucial for water security:  The Ken-Bewta link between Uttar Pradesh and Madhya Pradesh will be the first river-linking project. The Union Government has said that this river inter-linking programme is crucial for water and food security, and has sought the cooperation of the States in implementing it.

• Govt clears Naval P-8Is and air defence guns for Army: The Defence Acquisition Council chaired by the Defence Minister has cleared deals for the acquisition of additional P-8I maritime patrol and surveillance aircraft for the Navy, and new air defence guns for the army. It also extended Acceptance of Necessity (AON) for four large survey ships worth Rs. 2,324 crores (the old one has lapsed its lifeline).

• India welcomes Iran deal, wary of implications: The lifting of sanctions has many positives for India, like opening of a trade route from India to Central Asis via Iran and resumption of trade (especially oil imports) which India had been forced to abandon due to the trade embargo. But there is cause for concern too because India will no longer get preferential treatment in the oil trade from Iran, and because our new best friend Israel is a staunch opponent of the deal.

Economy/Business

• Wholesale prices continue to fall: Don’t remember the percentages. Just remember this trend in the Indian economy (that prices have been falling for some time) so that it will help in understanding what the RBI does next (probably lower bank rates to propel investment and raise demand).

• Big surge in FII inflows in 2014-15: Again do not remember the numbers, just remember that there has been this rise in investments. This rise is attributed to a few reasons like amending of the country’s FDI policy, the popularity of the Make in India initiative, and the changing of the definition of NRIs. (OCIs and PIOs are now counted as NRIs as well, which means that their investments are now considered as domestic investments, which means many industries not available to overseas investors are now available to them).

• Space out fund-raising plans, PSU banks told: The RBI has asked State-run banks to space out their plans for raising funds in order to avoid crowding the markets at the same time. Banks have to migrate to the capital-intensive Basel III norms within four years, and they need to raise funds to do so.

• Centre to set up trade facilitation council to promote exports: India’s exports have declined for the sixth month in a row, and the government is going to set up a trade facilitation council comprising members of the Centre and states to promote India’s overseas shipments. The council will be chaired by the Commerce and Industry Minister and will have secretaries of key ministries and state ministers as members.

• Move afoot to beef up logistics efficiency: Improvement of logistics is considered crucial to improved trade supply chains, which in turn is the backbone of any economy. To improve India’s road logistics, the Ministry of Road Transport & Highways is implementing a logistics efficiency enhancement programme, that aims to support the `Make in India’ initiative through a `Move in India’ drive.

• BSE to launch multi-legged order entry from Aug: The BSE is going to introduce multi-legged order entry facility in its equity derivatives segment from next month.  Under this, a trader can purchase or sell a variety of different futures and options at the same time, which otherwise would need separate orders for different contracts. Besides, the trader would need to pay sales commission only once against the current practice of multiple fee payments.

Empower

All the following job/industry related articles are important keeping questions about the demographic dividend in mind.

• Re-skilling can safeguard your career: A look into the problem that ails our education system the most: a mismatch between the educational syllabus in colleges and market requirements.

• Skill enhancement, the need of the hour:  An analysis of how our young graduates can be made job-ready before leaving college.

• A new programme to enhance employability of ex-servicemen: The Defence Ministry and the Ministry of Skill Development and Entrepreneurship (MSDE) today signed an MoU for supporting skill development of ex-servicemen and for those who are about to retire. These training facilities initiated by the Director General Resettlement (DGR) will be aligned with the National Skills Qualifications Framework (NSQF) developed by the Sector Skill Councils (SSCs).

• National job portal to be launched on July 20: The Prime Minister will launch the National Career Counselling Portal on July 20 as part of an endeavour to modernise all government-run employment exchanges. The portal  is being set up under the National Career Service (NCS) project.