Centre yet to notify crucial FEMA amendments: The Union government has not yet notified the amendments to the Foreign Exchange Management Act (FEMA) that were incorporated into the legislation after President Pranab Mukherjee’s assent in May 2015. (Just remember that new FEMA guidelines are coming, so that when released, they will not catch you by surprise).
China rejects Pakistan’s drone claim: China has accepted that the drone shot down by Pakistan in PoK is of Chinese origin, quashing Pakistan’s claim that it was an Indian drone. Why has China done so? No country readily accepts that its drones are so weak that someone has managed to shoot one down. But China has done so to defuse any chance of a Indo-Pak flare up, recognising that tensions between India and Pakistan are a danger to its Belt and Road (OBOR) initiative. So, we can expect China and even Russia to start playing a greater direct role from now on in India-Pakistan affairs. (Remember this point, because it will help to understand many things that will happen in the future. And, read in full about the OROB initiative (why a need for it, which countries involved, consequences for India like BCIM, sister organisations like the SCO); it will have major implications on Asian politics and economy in the coming decade).
Israel offers help to clean up Ganga: Israel’s water management, desalination and recycling techniques, which helped it overcome a water crisis following years of drought, have been emulated by several countries.
Opinion/Editorial
The question of primacy: Nothing new. See newspaper of July 18 for the last article.
An unsound recommendation: The Department of Telecommunications’ recent report on net neutrality has recommended to bring over services that provide voice calls via the Internet (like WhatsApp) under licensing. This the one regressive suggestion of the report because it means the govt can impose conditions for granting of licenses, and this might turn out to be an exercise in curbing free expression.
The state’s flawed focus on madrasas: A critique of the Maharastra govt’s recent decision to to classify madrasas that do not teach modern subjects as non-schools. I mentioned it earlier, and am doing so again: This is a state issue for now, but has the implications of becoming a complete national issue in the future.
A little restraint will go a long way: The recent crash in Chinese stocks was not extraordinary because of the way the Chinese government reacted to it. The govt has opened up lines of credit to investors so that investment does not fall. But it is highly unlikely that the investors will be able to repay these loans. And, international investors will keep away. So, the Chinese government needs to allow market forces to take their course and desist from interventionist policies. (See newspaper of July 9 for the original article on the subject).
Yes to multi-stakeholderism: A look at how the net neutrality policy is being made in India. A clear effort is being been made by the govt at consultation and responsiveness with various social groups. It is a promising start and may be the beginning of consultative decision-making that gives citizens more avenues to discuss the best way for them to access information.
A meatless argument: An article of how Hinduism and Indian dietary habits are perceived in the West. Must read.
International/World Affairs
Iran deal sent to Congress: The Iran nuclear deal has been sent to the toughest fight it will face. It needs to be ratified by the US Congress to become operational. But the Republicans (critics of the deal, and opponents of the Presidential administration which is Democratic) hold the majority in the Congress. This is a crossroads because if the deal manages to get ratified in the US, other countries are also expected to ratify it.
Merkel rules out debt relief: The German Chancellor has again ruled out forgiving any of Greece’s crippling debt, but has said Berlin was open to a flexible repayment plan. (Germany, the strongest economy by far in the EU, is the country that has contributed the most to Greece’s two earlier bailouts).
Economy/Business
An impetus to ‘Make in India’: Erratic power supply and frequent power outages have serious financial implications for industry. In this scenario, the ‘Make in India’ mission and the government’s target for solar power are complementary to each other, with each capable of pushing the other towards fulfillment of each other’s goals.
SEBI panel moots new code: To push institutional investors into greater engagement in governance matters of listed firms, a high-level advisory body of regulator the Securities and Exchange Board of India (SEBI) has suggested a new code on the lines of the Stewardship Code of the U.K.
Agriculture Ministry launches 3 portals: The Agriculture Ministry has launched three agri-portals: Soil Health Card portal, Fertiliser Quality Control System portal and Participatory Guarantee System with the objective being to make the process of organic farming certification, fertilisers’ quality checking and issuance of soil health cards, more transparent and accountable. These portals, launched initially in English, will be made available in regional languages in the next phase.
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