News (Text)


When:
October 9, 2018 @ 1:00 am
2018-10-09T01:00:00+05:30
2018-10-09T01:15:00+05:30

NEWS

9 OCTOBER 2018

Sr. No.

Topic

News

1.

GS III: ECONOMY – NOBEL

Nobel Prize for Economics announced

2.

GS II: POLITY – STATES – NRC

SC tags Tripura NRC plea with Assam case

3.

GS II: SOCIAL – WOMEN & CHILDREN

Three petitions challenge Sabarimala ruling in SC

4.

GS II: BILATERAL – INDIA-ASIA

Two Indian oil PSUs place orders for Iranian crude

5.

GS II: POLITY – ELECTIONS

Just 8.3% polling for local bodies in Kashmir Valley

6.

GS III: SECURITY

BrahMos engineer held for ‘ISI links’

7.

GS III: ENVIRONMENT – CLIMATE CHANGE

India faces threat of deadly heat waves, says UN climate report

8.

GS II: POLITY – ELECTIONS

Poll contestants should declare health status: HC

9.

GS I: CULTURE

Study throws light on megalithic site

10.

GS II: SOCIAL- LABOUR

Amid worker exodus, Rupani assures safety

11.

GS III: ECONOMY – BANKING

SC pulls up RBI as banks go slow on lowering interest rates

12.

GS II: INTERNATIONAL – USA

United States should stop misguided actions, says China

13.

GS III: ECONOMY – INDICATORS

October starts with heavy FPI selling

14.

GS III: ECONOMY – INDICATORS

India to be the 11th wealthiest, says BCG

GS III: ECONOMY – NOBEL

Nobel Prize for Economics announced

GS II: POLITY – STATES – NRC

SC tags Tripura NRC plea with Assam case

  • The Supreme Court issued notice to the government on a public interest litigation petition to update the National Register of Citizens (NRC) in Tripuraas is being done in Assam, in order to detect and deport the “illegal immigrants” from Bangladesh.
  • A three-judge Bench, led by Chief Justice of India Ranjan Gogoi, directed the court registry to tag the petition, filed by the Tripura People’s Front and some others, along with the petitions in the Assam NRC case.
  • It would now be heard by a Special Bench monitoring the Assam NRC case. Chief Justice Gogoi heads it.
  • The petition asked the Supreme Court to direct the authorities to update the NRC with respect to Tripura in terms of Rules 3 and 4 of The Citizenship (Registration of Citizens and Issue of National Identity Cards) Rules, 2003, by taking July 19, 1948, as the cut-off date as provided for in Article 6 of the Constitution.
  • “Uncontrolled influx of illegal migrants from Bangladesh has caused huge demographic changes in Tripura… Tripura was a predominantly tribal State, but now it has become a non-tribal State… Indigenous people, who were once the majority, have now become a minority in their own land,” it claimed.

GS II: SOCIAL – WOMEN & CHILDREN

Three petitions challenge Sabarimala ruling in SC

  • Three separate petitions asked the Supreme Court to review its September 28 judgment allowing women of all ages entry into the Sabarimala temple.
  • ‘Reform’ does not mean rendering a religious practice out of existence on the basis of a PIL petition filed by “third parties” who do not believe in the Sabarimala deity, the petitions contended.
  • A Constitution Bench, in a majority of 4:1, upheld the 12-year-old PIL petition filed by Indian Young Lawyers Association challenging the prohibition of women, aged between 10 and 50, from undertaking the pilgrimage.
  • The Bench found that a restriction on a woman solely based on her menstrual status was a smear on her individual dignity.

GS II: BILATERAL – INDIA-ASIA

Two Indian oil PSUs place orders for Iranian crude

  • Two Indian state-run oil companies, Indian Oil Corporation and Mangalore Refinery and Petrochemicals, have placed orders for 1.25 million tonnes of Iranian oil to be delivered in November 2018, Petroleum Minister Dharmendra Pradhan said.
  • The move comes in apparent defiance of U.S. sanctions targeting Iran’s crude oil exports that come into effect on November 4.
  • The Indian government has repeatedly requested Washington for a waiver of these sanctions for India, but has not received an affirmative response so far.
  • While private companies like Reliance and Nayara Energy (Essar) have had to drastically reduce their purchases, public sector companies, who are more immune to U.S. strictures, and already have alternate banking arrangements and a “rupee-rial” mechanism, are staying the course for now.
  • On November 4, a second round of U.S. sanctions against Iran will target the oil industry, and impose penalties on oil companies, refineries, insurers and transport companies dealing with Iran.
  • According to an executive order (EO 13846) issued by President Donald Trump, all American and non-American entities were given a six-month “wind-down” period from May 2018, in which to “zero out” all transactions with designated Iranian oil companies and port operators.
  • Although countries like Turkey, Russia, and China have indicated they will go ahead with their oil trade with Iran, the European Union will probably accede in a large measure, given the exposure of their companies to the U.S. banking system.

GS II: POLITY – ELECTIONS

Just 8.3% polling for local bodies in Kashmir Valley

  • Jammu and Kashmir recorded 56.7% turnout in the first phase of urban local bodies elections for 321 wards, with just 8.3 % voters turning up in districts in Kashmir.
  • Polling remained peaceful as no major incident of violence was reported in any designated ‘hypersensitive’ wards in the Valley, barring two minor incidents of stone-pelting in Budgam and Bandipora.
  • The polls witnessed a significant dip in the level of participation compared to the 2011 panchayat polls with 81% turnout.

 

GS III: SECURITY

BrahMos engineer held for ‘ISI links’

  • An engineer working at the BrahMos Aerospace Private Limited centre in Nagpur was arrested on charges of illegally possessing highly sensitive and secret documents, the Uttar Pradesh police said.
  • The police is probing if the engineer, identified as Nishant Agarwal, transmitted the confidential data to Pakistan’s ISI, as officials suspect.
  • Possession of such documents is “in itself a violation of the Official Secrets Act”.
  • Mr. Agarwal was allegedly in touch with two Pakistan-based Facebook profiles and the ATS has downloaded the chat history to analyse the interaction in detail.
  • The two IDs were apparently fake, made under the name of women, said the ATS, suggesting a case of suspectedhoneytrap.
  • The information about the FB IDs came during investigation of BSF jawan Achutanand Mishra, who was arrested in September 2018 from Noida on charges of allegedly spying for the ISI after being ‘honeytrapped’ on social media.
  • Honey trapping is a practice that uses romantic and/or sexual relationships for an interpersonal, political or monetary purpose to the detriment of one party involved in this romantic or sexual affair.

 

GS III: ENVIRONMENT – CLIMATE CHANGE

India faces threat of deadly heat waves, says UN climate report

  • If the average global temperature rises by more than one degree Celsius from the present, India could “annually” expect conditions like the 2015 heat wave that killed at least 2,000, according to the ‘Special Report on Global Warming of 1.5°C,’ commissioned by the Intergovernmental Panel on Climate Change (IPCC).
  • The report was put together by about 91 authors and review-editors from 40 countries, who had convened in Incheon, South Korea, to assess the feasibility of keeping the average global temperature from rising beyond 1.5 degree Celsius from pre-industrial times.
  • Achieving this would require “rapid, far-reaching and unprecedented changes in all aspects of society,” the IPCC said in the assessment.
  • Officials from the Union Environment Ministry, the Union Ministry of Earth Sciences and the Indian Institute of Human Settlements and the Tata Institute of Social Sciences were part of the Indian delegation at Incheon.
  • The 2015 agreement in Paris, considered a landmark achievement, had the world agree to keep rise in temperatures below 2 degrees Celsius and “pursue efforts to limit the temperature increase to 1.5°C above pre-industrial levels.”
  • With the U.S. withdrawing from the accord, the chances of such an ambitious target were significantly weakened.
  • The report stated that capping the rise in temperature to 1.5 degrees Celsius would require “rapid and far-reaching” transitions in land, energy, industry, buildings, transport and cities.
  • The global net human-caused emissions of carbon dioxide (CO2) would need to fall by about 45% from 2010 levels by 2030, reaching ‘net zero’ around 2050. This means any remaining emissions would need to be balanced by removing CO2 from the air.
  • However, allowing the global temperature to temporarily exceed the 1.5°C target would mean a greater reliance ontechniques that remove CO2 from the air, if the aim is to return the rise in global temperature to below 1.5°C by 2100.
  • Many of these techniques, such as carbon capture and storage, were unproven on a global scale and some carried significant risks for sustainable development, the report said.
  • Also, it predicted that coastal nations and agricultural economies like India would be the worst affected.
  • Decline in crop yields, unprecedented climate extremes and increased susceptibility could push poverty by several million by 2050.
  • “Even at a little over 1.0°C warming, India is being battered by the worst climate extremes – it is clear that the situation at 1.5°C is going to worsen,” the report said.
  • The next major climate discussions are scheduled in December 2018 in Katowice, Poland where countries are expected to discuss rules to implement the Paris agreement.

 

 

GS II: POLITY – ELECTIONS

Poll contestants should declare health status: HC

  • The Madras High Court strongly batted in favour of making it mandatory for candidates aspiring to contest in parliamentary, legislative Assembly as well as local body elections to declare their health condition.
  • When declaration of assets and criminal antecedents had been made mandatory, why not health condition too, the court asked.
  • Making the observation, Justice N. Kirubakaran said the death of former Tamil Nadu Chief Minister Jayalalithaa within seven months of assuming office in May 2016 should be taken as a cue.
  • “Many a time, people vote for personalities. So, they are entitled to know whether the person they elect is fit enough to lead them for the next five years,” he told counsel for the Election Commission of India (ECI).
  • When counsel Niranjan Rajagopalan explained that the law of the land did not empower the commission to force candidates to declare their health condition, the judge said, “You [the ECI] cannot expect lawmakers to enact a law which will eventually disqualify them. You should take proactive steps in this regard.”
  • The judge showered praise on former Chief Election Commissioner T.N. Seshan for having brought about wide electoral reforms during his tenure. “He single-handedly made everyone, including the government, realise the importance of the commission. We need more number of Seshans in this country,” the judge emphasised.

 

GS I: CULTURE

Study throws light on megalithic site

  • A reappraisal of a megalithic site done by a research group of Yogi Vemana University of Kadapa at Morlabanda in Anantapur district, Andhra Pradesh has noticed 18 dolmenoid cists (burial places) surrounded by slab circles on a big granite hill also locally called ‘Panduvaraguddum’.
  • This megalithic site was recorded about two decades ago, but remained unattended and no detailed study was done on it.
  • The antiquity of the site is estimated to be at 500 BC.

 

 

GS II: SOCIAL- LABOUR

Amid worker exodus, Rupani assures safety

  • Even as violence against migrant workers from Bihar, Uttar Pradesh and Madhya Pradesh continued in parts of Gujarat, Chief Minister Vijay Rupani assured them that they would be protected by the police.
  • Since the attacks broke out in six districts in north Gujarat following the rape of a toddler allegedly by a migrant worker, more than 20,000 migrant workers have fled the State, affecting industries where they constitute a large chunk of the labour force.
  • The police have arrested 431 persons and lodged 56 cases after over 100 incidents of assaults or attacks on Hindi-speaking workers in Mehsana, parts of Ahmedabad, Sabarkantha, Banaskantha and Patan.
  • Police have also arrested 15 persons for spreading hate messages against migrants on social media platforms.
  • On September 24, before the rape incident, Chief Minister Rupani had said that the State would bring a new law to make it mandatory for industries to hire 80 % locals.
  • “Those who set up industry in Gujarat, including the service sector, will have to ensure that 80% of the jobs are given to local Gujaratis. The State government is in the process of making such a law,” Mr. Rupani had said in Gandhinagar.

 

GS III: ECONOMY – BANKING

SC pulls up RBI as banks go slow on lowering interest rates

  • The Supreme Court directed the RBI to come up with a decision on a representation that banks are delaying passing on the benefit of lower interest rates to those who have taken loans at floating interest rates.
  • A Bench of Chief Justice of India Ranjan Gogoi and Justices S.K. Kaul and K.M. Joseph asked the RBI to communicate within six weeks its decision to the public trust ‘Moneylife Foundation’, which has filed the representation alleging that banks and financial institutions take a tardy approach in lowering interest rates despite the central bank’s decision on the repo and reverse repo rates.

 

GS II: INTERNATIONAL – USA

United States should stop misguided actions, says China

  • U.S. Secretary of State Mike Pompeo faced a testy exchange with his Chinese counterpart in, days after a blistering U.S. denunciation of the Asian power’s global and domestic policies.
  • Mr. Pompeo and Foreign Minister Wang Yi highlighted the schism after the chief U.S. diplomat arrived in Beijing on the final leg of an Asian trip focused on North Korea’s nuclear issue.
  • United States has “stepped up rhetoric over trade tensions” after a raft of tit-for-tat tariffs on billion of dollars in American and Chinese goods.
  • Mr. Wang accused the U.S. of making “a series of moves” on Taiwan – a self-ruling democratic island that Beijing considers a rebel province – and “other issues” that hurt Chinese sovereignty.
  • “We require that the U.S. stop such misguided actions,” he said, adding that the two countries should pursue cooperation “and not descend into conflict and confrontation.”
  • U.S. Vice-President Mike Pence had delivered a searing speech, accusing China of military aggression, commercial theft and rising human rights violations, as he cast the Communist regime as a villain bent on interfering in the upcoming U.S. election.
  • The two diplomats had warmer words regarding efforts to curb North Korea’s nuclear ambitions.

GS III: ECONOMY – INDICATORS

October starts with heavy FPI selling

  • The continuous depreciation in the Indian rupee and the overall risk aversion towards emerging markets has made foreign portfolio investors (FPIs) wary of the Indian equity market with October 2018 witnessing outflows in excess of Rs. 12,000 crore in five trading sessions.
  • While the month has just begun, the pace at which overseas investors are selling shares in the Indian market could make the current month among the worst-ever in terms of foreign money outflows.
  • The intensity of the selling spree can be further gauged from the fact that in the last 16 years, since 2002, there have been only five instances of FPIs selling shares worth more than Rs. 12,000 crore in a single month.
  • Incidentally, the last time FPIs sold over Rs. 12,000 crore in a single month was in August 2017 when such investors were net sellers at Rs. 12,770 crore.
  • The highest-ever single month selling by foreign investors at Rs. 18,244 crore was seen in November 2016.
  • Market participants attribute the outflows to the record fall in the Indian rupee combined with the overall weakness in the emerging equity markets with the rising interest rates in the U.S. acting as a catalyst.
  • While a rise in the interest rate in the U.S. market makes investing in emerging markets less attractive, currently the rates in U.S. at about 3.2% are at a multi-year high.
  • The Indian rupee is the worst performing Asian currency in the current calendar year, having fallen more than 15% in 2018.

GS III: ECONOMY – INDICATORS

India to be the 11th wealthiest, says BCG

  • India’s personal financial wealth, currently estimated to be about $3 trillion, is expected to grow to $5 trillion by 2022 making India the 11th wealthiest nation, according to a report from the Boston Consultancy Group (BCG).
  • According to the report, India is currently the fifth largest Asian market in terms of number of affluent, high net worth and ultra high net worth individuals.
  • The total number of such individuals was pegged at 4.13 lakh in 2017.
  • While wealth in excess of $100 million was categorised as ultra high net worth, that in the range of $1 million and $100 million was put in the category of high net worthAffluent referred to an individual with wealth between $2,50,000 and $1 million.
  • Interestingly, almost 70% of India’s personal financial wealth was in liquid assets such as equities, currencies and bonds.
  • “Residents of North America held over 40% of global personal wealth, followed by residents of western Europe with 22%. The strongest region of growth was Asia, which posted a 19% increase,” said the report

Leave a comment