Wednesday, July 1, 2015

New Summary : July 01

1: There are eight core industries for measuring IIP in India.
Eight core industries are cement , steel , electricity , coal , fertilizer , natural gas , refinery products , crude oil.

Good news: Electricity , coal showing signs of robust recovery.

2: Centre working to use technology to monitor pollution created by industries. Some parameters are Chemical oxygen demand( CoD ) and bio oxygen demand ( BoD ) . To monitor this water released by industries is being monitored and reported for unacceptable levels.

3: Green climate fund ( 100 bn $ ) will be one of key instrument to prepare for climate change. This is initiative on international platform. This is particularly critical for developing countries who need technological and monetary help to contribute towards fight against climate change.

4: PM visit to central asian countries. More articles will be expected in next few days. Broad way to see this is in terms of economic and security aspect. On economic front central asia has petroleum , natural gas , uranium reserves. India can use the market reach as well to augment exports. On security from countering terrorism , drug trafficking . PM will attend SCO meet , so this has Geo-political angle as well.

Countries : Kazakhstan , Kyrgyzstan , Turkmenistan , Uzbekistan , Tajikistan
Progress on TAPI pipeline is long awaited agenda.

5: IIM bill : Issue of curbing autonomy . Another line of thinking is the bill should be seen in terms of ensuring
accountability .

6: Chinese assertiveness on international front will be a reality in near future. Signs are issue of South China Sea , East china sea , Conflict with ASEAN .India need to quickly resolve the boundary dispute to strengthen partnership with china in growth path.

China policy in recent times : Silk road economic corridor , MSR , AIIB

Quotes of Deng Xiaoping :

a) " be good at maintaining low profile ; and never claim leadership "
b) " Observe calmly ; secure our position ; cope with affairs calmly "

7: Financial affairs crimes : Handled through FEMA , PMLA

8 : Greece main financiers : ECB , EU , IMF
Situation of defaulting over austerity clauses and rising unemployment.

9: Legal reforms in India : Approval of foreign firms to open operations in India. Presently legal space is mainly administered by Bar council of India. This is long awaited reforms specially seen in terms of International commercial arbitration in Indian courts. In era of globalization this is desirable scenario e.g. WTO , GATT agreement.

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