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DAILY CURRENT EVENTS CIVILS360

October 19, 2017

65 AYUSH hospitals in three years

  • The government is working towards setting up an Ayurveda hospital in each district, Prime Minister Narendra Modi said on Tuesday and asserted that time had come for a “health revolution” under the aegis of the traditional medicine system.
  • Addressing a gathering after dedicating the first All India Institute of Ayurveda to the nation here, the Prime Minister pitched for affordable and accessible healthcare for the poor on Ayurveda Day on Tuesday.
  • The day was also celebrated as Dhanwantari Jayanti (Dhanteras) across India. “It is very necessary for the expansion of Ayurveda that there is a good hospital with all facilities … in every district of the country. The AYUSH Ministry is working swiftly in this direction, and in more than three years, more than 65 AYUSH hospitals have been developed,” Mr. Modi said.

Nationalism can’t be imposed, says Pranab

  • Addressing the bi-centenary celebrations of the founder of Aligarh Muslim University, Sir Syed Ahmed Khan, at Aligarh Muslim University, former President Pranab Mukherjee on Tuesday said that “nationalism can neither be imposed by law nor implemented by decree or be enforced by a dictum”. He said that attempts to “redefine” nationalism were “unnecessary.”
  • “There have been, from time to time, attempts to redefine nationalism. According to me, such attempts are unnecessary since our concepts of nationalism and national identity predate the modern-postmodern constructs of identity,” the former President said.
  • He sought to distinguish the Indian concept of nationalism from the idea of European nation-state.
  • “The concept of nationalism in the context of European nation states is a new phenomenon in Indian civilization,” Mr. Mukherjee said, adding that the British tried to enact the “foundation of Indian statehood in their concept”.
  • “Indian statehood is believed to have been in existence since long. Indian civilization is society-oriented and not politically dominated,” he said.

‘Centre taking steps to formalise gold trade’

  • The Centre is taking steps for greater formalisation of the gold trade with an eye on the future, Finance Minister Arun Jaitley said.
  • Unveiling the country’s first commodity options trading in the precious metal on the Multi Commodity Exchange (MCX), on Dhanteras on Tuesday, Mr. Jaitley said, “This marks a very important evolution in the trading of the yellow metal itself. It [options] hedges all risks for those dealing in gold.”

Consumers to benefit

  • “The more it formalises, the better it is for consumers, jewellers and traders,” he said. “That is in consonance with the business environment for the future that we see.” he added.
  • The “options give buyers the right to buy or sell the underlying asset but no obligation, at a specified price at the expiry. Thus, for buyers, the risk is limited only to the premium paid to the option seller (that is, option writer),” the MCX explained.
  • “By hedging risk of rise in gold prices using ‘Gold Call Options Contract,’ a jeweller would not only be protected against price rise, but also would benefit from fall in gold prices… (Similarly).. by hedging risk of fall in gold prices using a ‘Gold Put Options Contract’, a jeweller would not only be protected against price fall, but would benefit from rise in gold prices, ” it added.
  • Gold is the first product for options trading that SEBI had permitted after modern commodity derivatives trading started 14 years ago.The Finance Ministry had set up a committee for suggesting measures to transform India’s gold market, said MCX Chairman Saurabh Chandra.To further strengthen the market, a panel had been constituted in NITI Aayog to integrate spot and derivative markets, he added.