DAILY NEWS DIARY 04.06.2020 DAILY NEWS DIARY 25.07 · 2020. 7. 25. · usher in a change in a...
Transcript of DAILY NEWS DIARY 04.06.2020 DAILY NEWS DIARY 25.07 · 2020. 7. 25. · usher in a change in a...
DAILY NEWS DIARY 04.06.2020 DAILY NEWS DIARY 25.07.2020
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DAILY NEWS DIARY of
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DAILY NEWS DIARY of
25.07.2020
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DAILY NEWS DIARY 25.07.2020 DAILY NEWS DIARY 25.07.2020
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Dear Student,
Warm Greetings.
DnD aims to provide every day news analysis in
sync with the UPSC pattern.
It is targeted at UPSC – Prelims & Mains.
Daily articles are provided in the form of
Question and Answers
To have a bank of mains questions.
And interesting to read.
Providing precise information that can
be carried straight to the exam, rather
than over dumping.
Enjoy reading.
THE HINDU - TH
INDIAN EXPRESS - IE
BUSINESS LINE - BL
ECONOMIC TIMES – ET
TIMES OF INDIA - TOI
INDEX
Essay Paper
Editorial
1. How the Permanent Commission grant has been sanctioned to women and the Gender barrier aspect attached to it.…..…….03
GS 2
International Relations
1. The new edge of US-China Dynamic………………………...............05
GS 3
Economic Development
1. Summary of the RBI’s Financial Stability Report………………..…06
Snippets
GS3
Economic Development
1. RBI signs $400 mn currency swap facility for Sri Lanka…………08
Security
2. India – Israel’s new liberalised foreign direct investment
(FDI) regime in defencemanufacturing……………………………..09
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Essay Paper
Editorial
Q – Discuss how the Permanent Commission grant has been
sanctioned for women in the army and the Gender barrier
aspect attached to it?
INTRO = A glass ceiling was shattered when the Ministry of
Defence issued a formal letter granting permanent commission
to women officers in the Indian Army. The uphill battle to break
a gender stereotype and provide equal opportunities for women
in the Army had to be fought right up to the highest level, in the
Supreme Court. Even so, the MoD’s Government Sanction Letter
specifying the grant of permanent commission to Short Service
Commission (SSC) women officers in all the 10 streams in which
they presently serve is a cause for celebration. It will go a long
way in ending a prejudice associated with the Army.
Challenges –
True, the fight was far from easy. It was long and protracted, as
the government initially glossed over a Delhi High Court ruling in
the litigants’ favour 10 years ago. Then in the Supreme Court,
just what the litigants were up against became clear from the
views of the government. A written note to the Court pointed at
“physiological limitations” of women officers, saying that these
were great challenges for women officers to meet the exigencies
of service.
The Winning Point –
In February, the Supreme Court read the government the riot
act, asking it to abide by its own policy on granting permanent
commission to women in the SSC and giving them command
postings in all services other than combat.
The misogyny was called out in a 54-page judgment. The Supreme
Court noted that women officers of the Indian Army had brought
laurels to the force. The Army is often seen as the preserve of men,
but enough women have fought heroic battles to bust that myth, from
Rani of Jhansi in the past to Squadron Leader Minty Agarwal of the
Indian Air Force, who last year “was part of the team that guided Wing
Commander Abhinandan Varthaman during the Balakot airstrike
carried out by the IAF”.
Way Forward -
1) The irony is that of the 40,825 officers serving in the Army, a mere
1,653 are women, as the top court noted. The overall percentage of
women at all levels of the armed forces needs to be increased. To
usher in a change in a regressive mindset, which mirrors society, a
lot more must be done on gender sensitisation.
2) Elsewhere in the world, in countries such as the United States and
Israel, women are allowed in active combat. Thus a gender barrier
may have fallen, but the war against inequity is far from over. The
same procedure for male SSC officers would be followed for women
to give permanent commission.
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GS 2
International Relations
Q – Discuss the new edge of US-China Dynamic and how India is
caught in between?
BACKGROUND = Although the US-China trade war had begun two
years ago, with both sides imposing punitive tariffs on imports
from each other, Washington and Beijing had continuing
negotiations on resolving the dispute. The two sides had
announced a phase one of the trade deal earlier this year. But
recent months have seen the rapid expansion of the scope and
intensity of the conflict. The Trump Administration charged China
with spreading the COVID-19 virus that has infected more than
four million Americans and killed nearly 1,50,000. Beijing
retaliated by alleging that the Trump Administration was blaming
China for its own failures in dealing with the pandemic. It also
floated the theory that the US Army might have been the original
source of the deadly virus.
Recently –
1) Beijing has retaliated swiftly against Washington’s decision to
close down the Chinese consulate in Houston by ordering the
closure of the US consulate in Chengdu in southwestern China.
2) China had also rejected the Trump Administration’s charge that its
Houston consulate was engaged in espionage and theft of
industrial secrets.
3) And also the Trump Administration accused Chinese hackers of
trying to steal US research on anti-COVID vaccines. In recent
weeks, the US stepped up its global campaign against China’s
telecom giant Huawei and pressed its allies and partners to reject
its technology in rolling out the 5G mobile networks.
Extending Tensions –
Beyond the bilateral issues of diplomatic representation, trade,
technology and the coronavirus, the conflict between the two great
powers has inevitably begun to envelop other countries, especially
those in Asia –
1) U.S rejected Beijing’s territorial claims in the disputed waters of the
South China Sea as unlawful.
2) Washington was squarely on the Indian side in the unfolding military
conflict between Delhi and Beijing in eastern Ladakh.
However, welcome Washington’s uninhibited support against
Beijing generates deep concerns about being drawn into the
escalating US-China conflict. The NDA government understands the
gravity of the conflict on India’s China frontier and the import of the
current inflection point in US-China relations. Getting the India-US
relationship right is more critical now than ever before.
GS 3
Economic Development
Q – Discuss the summary of the RBI’s Financial Stability Report?
BACKGROUND =The Reserve Bank of India has released the 20th issue
of the Financial Stability Report (FSR). The FSR reflects the collective
assessment of the Sub-Committee of the Financial Stability and
Development Council (FSDC) on risks to financial stability and the
resilience of the financial system. And Includes –
1) Stress tests indicated that gross non-performing assets (GNPA) ratio
of scheduled commercial banks (SCBs) could worsen to as high as
14.7% by the end of the current financial year, from 8.5% in March
2020.
2) Which assumes hypothetically that GDP would suffer a contraction of
8.9% in 2020-21, In the baseline case, the GDP is assumed to contract
4.4%.
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3) Observing that the capital to risk-weighted assets ratio (CRAR) of
SCBs edged down to 14.8% in March, from 15% in September
2019, the RBI projected that this ratio could slide to “13.3% in
March 2021 under the baseline scenario and to 11.8% under the
very severe stress scenario”.
4) Bank credit which had considerably weakened during the first half
of 2019-20, slid down further to 5.9% by March 2020 and
remained muted up to early June 2020. This moderation was
broad-based across all bank groups
5) In terms of inter-sectoral exposures, asset management
companies/mutual funds, followed by insurance companies, were
the biggest fund providers in the system, while non-banking
financial companies (NBFCs) were the biggest receivers, followed
by housing finance companies (HFCs).
The central bank said the near-term economic prospects appear
severely impacted by lockdown induced disruptions to both supply
and demand side factors, diminished consumer confidence and
risk aversion. On the assessment of systemic risk, the RBI said in its
report that the Indian financial system remained stable,
notwithstanding the significant downside risks to economic
prospects.
Snippets
GS 3
Economic Development
RBI signs $400 mn currency swap facility for Sri Lanka
The Reserve Bank of India has agreed to a $400 million currency swap
facility for Sri Lanka till November 2022
The Central Bank of Sri Lanka had sought the swap facility to help
bolster the pandemic hit island nation’s foreign exchange reserves.
The RBI’s action comes in the wake of a recent bilateral ‘technical
discussion’ on rescheduling Colombo’s outstanding debt to India. Sri
Lanka owes $960 million to India.
Sri Lanka’s Foreign Secretary Ravinatha Aryasinha said the neighbours
could explore possible collaborations in textiles, IT and agribusiness,
sectors that India was ‘strong in’. Assuring that Sri Lanka would
“facilitate, protect and promote a liberal ecosystem for Indian
investors in developing industrial zones, automotive components,
pharma, textiles and engineering.
Srilankan Exports - difficulties in market access, often created due to
non-tariff barriers in receiving countries, was an impediment, and
urged FICCI to collaborate with the Sri Lankan Mission in New Delhi to
help boost the export of Sri Lankan spices and concentrates to the
Indian market.
For Prelims –
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A currency swap is a transaction in which two parties exchange an
equivalent amount of money with each other but in
different currencies. The parties are essentially loaning each other
money and will repay the amounts at a specified date
and exchange rate
Security
India – Israel’s new liberalised foreign direct investment (FDI)
regime in defence manufacturing.
The Indian Armed Forces are undertaking a series of emergency
defence purchases, including from Israel, amid ongoing tensions
with China on the border. In May, the government increased the
limit for FDI in defence through the automatic route from 49% to
74%.
The Army has already taken a decision to order another batch of
12 launchers and around 250 missiles of Spike Anti-Tank Guided
Missiles (ATGM) and additional Heron Undermanned Aerial
Vehicles (UAV), among others, from Israel through the emergency
procurement route.
How about this today!?
The new START TREATY recently in news, is to cap the nuclear warheads of which 2 nations in the current world? a. Russia – USA b. USA – Iran c. China – USA d. Iran – China
Hey from yesterday….
The algae on the surface of the water prevents?
a. Access of bacteria in water
b. Access of sunlight in water
b. Growth of fungi
c. Growth of salt attracting bacteria Answer: b
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