1: Economy : Recently decision has
been made to allow EPFO to invest 5 to 15% of incremental deposits
into equity or equity linked instruments. NPS is allowed to invest in
equities ( in small amount ) . Equity investments come with chance of
higher returns but contain more ricks.
2: International : China's policy on
belt and road initiative has regional and global implications. India
is apprehensive about Gwadar-Kashgar economic corridor which passes
through PoK. However , BCIM corridor has potential to help India’s
bid to develop NE Indian region. BCIM will connect Kunming ( Yunnan )
with Kolkata through Myanmar and Bangladesh. BCIM will reduce Chinese
dependence on Gulf of Malacca for cargo movement , which is under
USA's influence.
3: India-Krygyzstan are to co-operate
on combating terror through defense co-operation . Annual joint
military exercise will be conducted to boost co-operation.
4: Poverty : In backdrop of SECC a
valid question asked is how poverty reduction can be associated to
development. Poverty has other dimension other than economic. Poverty
should be determined on control over the factors that determine life
chances of people. It should be kept in mind that development focus
has been incorporated by developed countries in form of IMF , WB .
USA led the economic world order after world war 2 e.g. Marshall plan
, Truman Doctrine. Idea was to expand capitalism with control over
science and technology .
5: Greece issue : Greece joined EU in
2001 with obligation to fulfill criteria of Maastricht treaty 1992.
Greece can not devalue it's currency and raise interest rate to tide
over monetary problems. It depends on troika i.e. ECB , EC , IMF to
overcome financial difficulties. Greece lacks central bank which can
provide liquidity to it's banks independent of ECB control. Problems
can be seen in form of 27% contracted GDP since 2009 . 25%
unemployment rate with youth unemployment touching 60% presents
difficult situation s well. Greece leaving EU will be bad for EU and
European unity.
6: Sri Lanka : Parliamentary elections
are scheduled for August 2015 . Mahinda Rajpaksha will contest the
election . This is being seen as President Sirisena going on back
foot. Present ruling coalition has Rajpaksha supporters in form of
faction inside SLFP . Present ruling co-alition name is united
people's freedom alliance ( UPFA ) with main constituent in form of
United national party ( UNP ). Sri-Lanka faces task to heal civil war
wounds. Political and ethnic issue continue to find prominence for
now.
Expert comment : Main articles
revolved around China , Poverty , SL , Greece . Present government
if focusing more on development to sort out poverty issue. Other
dimensions should find place in policy framework , at least should be
publicly discussed . Development criteria may face limitations and
even become tool to continue poverty , exploitation and inequality.
Outcome of Greece issue will see intense negotiations in coming days
. So the news will sustain longer for now.
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