Daily Current Events by Civils360 December 6, 2017
Globalisation: Read Here
Heads of economic planning in India and China agree to fight neo-protectionist tendencies across the world like that developed recently in America(America First Policy), U.K.(BREXIT) etc.
The two countries plan to synchronise their emerging economies to lead a new wave of globalisation.An open, liberal and rule-based globalisation is necessary for prosperity and global political stability.
- NITI Aayog vice-chairman said that Chinese investment in manufacturing could generate large-scale employment in India. Besides, India could benefit from Chinese experience gained from innovation-based “fourth industrial revolution” that focussed on advanced robotics, artificial intelligence, electric vehicles and internet-of-things.
Violence against women: Read Here
Cases under Section 498A was found to have the lowest conviction rate — merely 12.1 percent — among all cases of crimes against women. However, it accounts for over 30 percent of all crimes against women across India.According to National Crime Records Bureau, out of the total 3.3 lakh cases registered against women, almost 1.1 lakh was filed as ‘Cruelty by husband or his relatives’.
The Home Ministry had recently sent a draft note to the Law Ministry for drawing up a draft Bill for the Union Cabinet to amend Section 498A.The government has recently tried to make the offence compoundable.These were also recommended by Malimath Committee and Law Commission as well.
- However, the women’s rights group do not support the move and are protesting against such an amendment.They feel it will dilute the power of law and increase violence against women.
Citizenship: Read Here
- Supreme Court had made it clear that the certificate issued by Panchayat Secretary regarding citizenship alone was no proof of citizenship and can only be relied on to establish a linkage between the holder and the person from whom the legacy is claimed.
- It means that unless supported by some other valid record, it is difficult for people to make a claim for inclusion in the National Register of Citizenship.
- About 48 lakh claims have been made using certificates issued by gram panchayat secretaries, out of a total of 3.29 crore claims made so far for inclusion in the NRC which is being prepared in Assam to identify undocumented migrants.
Trade: Read Here
- The government announced additional incentives totalling Rs 8,450 crore to help boost exports in its mid-term review of the Foreign Trade Policy 2015-2020.
- It included simplified processes to help exporters and a commitment to roll out an e-wallet scheme to ease working capital issues for exporters in the post-GST regime. It also raised the incentive rate by 2 percent under the Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS).
- The government has also set up a state-of-the-art trade analytics division set up in DGFT for data-based policy actions, which will improve the policy-making process and make it a dynamic and evidence-driven.
Monetary Policy: Read Here
- The Reserve Bank of India will probably hold interest rates at a seven-year-low on Wednesday as growth recovers, while investors will focus on whether inflation has quickened decisively enough to signal future tightening.
- Growth in gross domestic product picked up to 6.3% in July-September from a year ago, halting five quarters of deceleration as manufacturing rebounded. However capacity utilization is still low at 70%, signalling slack demand conditions, credit remains subdued.It raises concern about the pace of recovery.
- The RBI, as well as private economists, predict inflation will quicken to about 4.5%, therefore traders are pricing in the possibility of an increase in the key policy rate next year.