NEWS TIMESep 07, 2020 · ge ge 2. DAILY NEWS DIARY 07.09.2020 DAILY NEWS DIARY 07.09.2020 +91...

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NEWS TIME All the news you need and more…

DAILY NEWS DIARY of

02.06.2020

For Prelims & Mains

Dear Student,

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DAILY NEWS DIARY of

07.09.2020

For Prelims & Mains

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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. Role of International Institutions along with regionally

coordinated policies to help financing economic recovery……..03

GS 2

Constitution

1. Historical significance of the ‘Kesavananda Bharathi case’…...05

GS 3 Environment

1. Impact of forest policies on timber production in India..….......07

Snippets

GS 3

Economic Development

1. What is credentials ‘Credit Shell’ ..……………………………….……09

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Essay Paper Editorial

Q – Explain the role of International Institutions along with

regionally coordinated policies to help financing economic

recovery?

INTRO = As the socioeconomic impacts of the pandemic spread

across Asia and the Pacific, finance ministries are continuing their

efforts to inject trillions of dollars for emergency health responses

and fiscal packages. Compared to 2019’s economic situation, over

the past six months, countries in Asia and the Pacific have been

experiencing sharp drops in foreign exchange inflows due to

declines in export earnings, remittances, tourism and FDI. This is

worrying as policymakers are tackling difficult choices over how to

prioritise development spending, while continuing to expand their

squeezed fiscal space. Thus, Financing in 3 key areas is important

as –

1) The United Nations is contributing through a global initiative,

Financing for Development in the Era of COVID-19 and Beyond, co-

convened by Canada and Jamaica, to articulate a comprehensive

financing strategy to safeguard the Sustainable Development Goals.

Governments are united to ensure that adequate financial

resources are available to steer an inclusive, sustainable and

resilient post-COVID-19 recovery.

In the Asia-Pacific region, several countries have already adopted

financing plans in three key areas –

a) They aim to address the challenge of diminished fiscal space and

debt vulnerability;

b) to ensure sustainable recovery, consistent with the ambitions of

the Paris Agreement and the 2030 Agenda;

c) and to harness the potential of regional cooperation in support of

financing for development.

2) The United Nations Economic and Social Commission for Asia and

the Pacific (ESCAP) has recently launched its first-ever Regional

Conversation Series on Building Back Better. We are joining forces

with ministers, decision-makers, private sectors and heads of

international agencies to share collective insights on sharing

pathways to resilient recovery from health pandemic and economic

collapse.

3) To improve the fiscal space and manage high levels of debt distress,

a growing call for extending the debt moratorium under global

initiatives like the Debt Service Suspension initiative is timely.

a) Central banks can continue to keep the balance of supporting the

economy and maintaining financial stability.

b) This further involves enhancing tax reforms and improving debt

management capacities, while using limited fiscal space to invest in

priority sectors.

c) Exploring sustainability-oriented bonds and innovative financing

instruments options such as debt swaps for SDG investment should be

explored further.

No country can take this agenda forward alone. Regionally coordinated

financing policies can restart trade, reorganise supply chains and

revitalise sustainable tourism in a safe manner. Across Asia and the

Pacific -

1) Governments must pool financial resources to create regional

investment funds.

2) Strengthening regional cooperation platforms to ensure that all

countries receive an equitable number of doses of the vaccine on short

notice to everyone everywhere is particularly essential.

3) Through ESCAP, we can scale these efforts across the region, working

closely with our member states, the private sector and innovators to

build a collective financing response to mobilise the necessary

additional resources.

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In addition to economic considerations, the policy paradigm must

mainstream affordable, accessible and green infrastructure

standards, while promoting social equality and environmental

sustainability principles as enshrined in the Paris Agreement. As

we scale up the use of digital technology and innovative

applications, the financing support of micro, small and medium-

sized enterprises must go hand in hand with these national job-

rich recovery strategies.

GS 2

Constitution

Q – What is the historical significance that the ‘Kesavananda

Bharathi case’ carry in the history of judicial review. And why is it

in news now?

BACKGROUND = Kesavananda Bharati Swamiji, who passed away on 6th September, 2020, was the sole unwitting petitioner in the historic Fundamental Rights case which prevented the nation from slipping into a totalitarian regime.

Though the judgment is a landmark case, he did not win any relief in the case. The amendments in the Kerala land reforms law, which he had challenged, were upheld by the Supreme Court in 1973.

It was senior advocate Nani Palkhivala, representing Swamiji, who extended the ambit of the case. Mr. Palkhivala saw an opportunity through Swamiji's case to challenge a series of constitutional amendments introduced by the Indira Gandhi government, granting unlimited power to Parliament to alter the Constitution.

Why is it a unique case?

1) By sheer statistics, leave alone the law it laid down, the “Kesavananda

Bharati versus State of Kerala” case is unique. The case was heard by a

Bench of 13 judges — the largest formed in the Supreme Court.

2) It was heard over 68 working days from October 1972 to March 1973.

3) The judgment was a mammoth 703 pages.

4) The Kesavananda Bharati judgment innovated the Basic Structure

doctrine which limited Parliament’s power to make drastic

amendments that may affect the core values enshrined in the

Constitution, like secularism and federalism.

5) The verdict upheld the power of the Supreme Court to judicially

review laws of Parliament.

6) It evolved the concept of separation of powers among the three

branches of governance — legislative, executive and the judiciary.

7) But democracy won that day on a wafer-thin 7:6 majority. The judges

were split down the middle until the 13th judge, Justice H.R. Khanna,

supported the view that constitutional amendments should not alter

the “basic structure” of the Constitution.

The Emergency was proclaimed shortly after the judgment was delivered on April 24, 1973. The Kesavananda Bharati judgment proved timely and thwarted many an attempt on democracy and dignity of individual during those dark years.

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GS 3

Environment Q – The paper titled the ‘Impact of forest policies on timber

production in India: a review’ calls for change in India’s forest

policy. Discuss?

BACKGROUND = A research paper which advocated for sustainable

forest management based on certification and a policy

characterised by restoration, conservation and production equally

was relevant in making a “strong case” for amendment in the forest

policy. The paper titled the ‘Impact of forest policies on timber

production in India: a review’ was received from the Indian Institute

of Forest Management (IIFM), Bhopal, and was published in 2016 in

the Natural Resources Forum, a United Nations Sustainable

Development Journal, while illustrating the potential of timber

production from trees outside forests (TOFs) — grown outside

government recorded forest areas (RFAs) — points to the lack of

reliable data relating to growing stock, consumption and production

of timber, which constrained forecast of supply and demand

projections.

Domestic timber production slumped while imports soared after decades of policies focused on production instead of conservation, following a 1996 Supreme Court order which regulated logging in government forests. “The import-export policy of the country should be reviewed to rectify the pricing in the market so that it is economically viable to grow trees on farmlands.The domestic demand of timber, was growing owing to increasing population and per capita GDP.And the dependency on imports could backfire as exporters worldwide were shifting to a conservation-based approach, warranting a revision in the Indian policy to boost domestic production –

1) Highlighting the pivotal role of TOFs in meeting demand, the paper quotes the India State of Forest Report (2011) which estimated timber production from government forests to be 3.17 million m³ and potential timber production from TOFs to be 42.77 million m³.

2) Increasing wood production will also push carbon sequestration, and help in mitigating effects of climate change.

3) Increasing timber production from TOFs can revive the rural economy. 4) Focus on maintaining ecological balance and improving biodiversity

through protected area management. The restoration policy must target reclamation, rehabilitation and regeneration of degraded landscapes and wastelands.

5) Production forestry should focus on “sustainable increase in forest productivity from TOFs and RFAs”.

6) To boost production through RFAs, the paper recommends, States must devise working plans and demarcate 10% of the forests for plantations. For TOFs, a synchronised nationwide policy could be developed.

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Snippets

Economic Development Q – What is a ‘Credit Shell’ and how does It ‘balance’ concerns of

passengers and cash-strapped airlines?

Air passengers have a legitimate right to get full refund for their tickets cancelled due to no fault of their own during the national lockdown. It is stated that non-refund of fare amounts to violation of provisions of the Aircraft Rules of 1937 and the Civil Aviation Requirements (CARs).

But the Directorate also reasoned that an enforcement action against an already financially distressed sector now would prove counter-productive and harm the “Indian aviation as a whole”. Instead, the DGCA, in a 48-page affidavit, sounded out a proposal worked out by the Ministry of Civil Aviation to “harmonise both passengers’ interests and airline viability”.

The affidavit and the proposal therein is the result of a direction from a three-judge Bench, led by Justice Ashok Bhushan, on June 12 to the Ministry to meet with airlines and work out a credit pattern for tickets cancelled during the lockdown.

1) According to this proposal, passengers who booked their tickets during the lockdown will get an immediate and full refund from the airlines.

2) For all the other cases (passengers who booked their tickets before the lockdown was suddenly imposed from March 25 and extended till May 3.), the airlines shall make all endeavours to refund the collected amount to the passenger within 15 days.

3) But the proposal has also devised an alternative credit shell scheme for airlines too poor to pay a refund –

a) According to this scheme, a credit shell will be opened in the name of the passenger who booked the ticket. This shell is valid up to March 31, 2021. In case the passenger chooses not to use the credit shell, the airline will have to refund the ticket money by the end of March 2021.

b) The credit shell is also transferable to any person of the passenger’s choice.

c) As an incentive mechanism, the proposal offered .5% increase in the valuation of the credit shell if it was not “consumed” till June 30, 2020.

How about this today!? Identify which of the following licence is mandatory for a non-profit organisation to receive foreign funds in India? a. FDI Policy

b. Foreign Exchange Management Act 1999 (FEMA)

c. Foreign Contribution Regulation Act (FCRA)

d. Indian Companies act, 2013

Hey from yesterday….

To tide over “one of the toughest times” in history, the auto industry sought the support of the government by way of which of the following? 1. GST reduction

2. Introduction of a scrappage policy

3. A stable regulatory roadmap

4. And credit subsidies

a. 1 alone b. 1,2 c. 1,2,3 d. All of the above

Answer: c

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NEWS TIMESep 07, 2020 · ge ge 2. DAILY NEWS DIARY 07.09.2020 DAILY NEWS DIARY 07.09.2020 +91...

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