22 AUGUST 2019 || THE HINDU DAILY NEWS & CURRENT AFFAIRS ANALYSIS FOR UPSC, SSC, CAPF, CDS etc.

The Hindu Daily News Analysis

Get Daily News Analysis, Editorial Analysis and Current Affairs from The Hindu newspaper for free.

The Hindu newspaper is one of the most important source for preparing GS/GK for any competitive exam in India. This free Daily News Analysis, Editorial Analysis and Current Affairs from The Hindu newspaper will help you make notes for various competitive exams like SSC, CDS, UPSC Civil Services, UPSC CAPF, Banking, Railways RRBs, Insurance, UPSC IES, UPSC IFS, etc. This complete analysis contains both fact based news highlights for objective exams and in depth analysis of editorials and opinions for descriptive papers and essays in very easy and simplified language.
Also, keep reading and subscribing to our main website TheRadical - Information That Matters for articles on various issues like defence, army, navy, air force, economics, politics, current affairs, etc.

Important Headlines

Front Page

  • Fossils show Kutch desert was once a forest. It likely had giraffes, rhinos, elephants and giant crocodiles in the Miocene period.
  • Southern Railway facing fund crunch. Cleaning services on trains will be hit.
  • In Hyderabad, Amazon opens its biggest ever campus.

National

  • Super 50: an initiative for tribal students to fulfil dreams - Maharashtra’s Tribal Development Department in association with the Pace Educational Trust, launched an academic programme for young tribal students aspiring to be doctors and engineers.
  • Rajiv Gauba appointed Cabinet Secretary
  • Ajay Kumar to be Defence Secretary

Military

  • Panel to study corporatisation of Ordnance Factory Board.

Business & Economy

  • Parle may cut 10,000 jobs.
  • State­owned Hindustan Petroleum Corporation Limited (HPCL) is planning to invest as much as ₹ 74,000 crore in expanding its refining and petrochemical capacities.
  • Gold imports up 15.4% in April-July.


    In-depth News Analysis

    1. Afghan President Warns India over a Possible Deal between U.S. and Pakistan

    Background

    Ex Afghan President Hamid Karzai warned that India should be wary of a possible U.S.-Pakistan deal on Afghanistan.

    Details

    • Ashraf Ghani is the current President of Afghanistan.
    • Karzai, who was in Delhi to meet Prime Minister Narendra Modi and External Affairs Minister S. Jaishankar, said that he had conveyed the fear and concern associated with the possibility of a deal that involved Pakistan.
    • He also rejected Pakistan’s threat that India’s move on Article 370 would have consequences for the Afghan peace process.
    • According to him, Pakistan still sees Afghanistan as a place for ‘strategic depth’.

    2. Fossils Show that Kutch Desert was once a Forest

    • A team of Indian and French researchers has found that the hot arid desert of Kutch was once a humid subtropical forest.
    • The fossils, consisting mostly of ribs, and parts of teeth and bones, were unearthed from Palasava village of Rapar taluk in Kutch, Gujarat.
    • After the discovery, the research team took nearly 12 years for analysis.
    • The fossil finds suggest that a rich diversity of fauna and flora sustained in warm, humid/wet, tropical to subtropical environmental conditions.
    • The forest may have supported a variety of birds, freshwater fish and possibly giraffes and rhinos.
    • The bulk of fossils unearthed in Kutch have so far been mainly marine organisms, due to their proximity to the Arabian Sea.
    • The findings point to clues on how mammals dispersed between Africa and the Indian subcontinent when a part of India was in the Gondwanaland supercontinent that existed nearly 300 million years ago.

    3. SEBI Simplifies Norms for Foreign Investors

    • The Securities and Exchange Board of India (SEBI) has simplified the compliance and operational requirements for foreign portfolio investors (FPIs), to make the regulatory framework more investor friendly.
    • The move coincides with a period when foreign investors are selling Indian shares in huge quantum.
    • FPIs have cumulatively sold shares worth over ₹22,000 Cr. in July and August.
    • SEBI has expressed concerns over the recent proposal of the government to increase the minimum threshold of public holding in listed companies from the current 25% to 35%.

    4. An Unsustainable Kerala Model

    Background

    Recurring natural calamities question the sustainability of the much-lauded Kerala Model of development.

    Floods in Kerala

    • In 2018 Kerala was hit by flooding combined with landslides that caused many deaths.
    • The flooding was due to inept dam management and the vulnerability of the terrain induced by the pattern of land use.
    • In 2019, landslides have caused more deaths when compared with flooding.
    • Fountains sprouting out of the earth due to ‘water piping’ caused greater havoc.

    Kerala Model

    • Kerala Model is a term used to describe the economic policy underpinning the State’s recent growth and development history.
    • The model was lauded for the high human development indicators it is believed to have bestowed upon the State.
    • According to Amartya Sen, the State seemed to have attained high social development at a relatively low level of income.
    • It was soon welcomed by the political class including artists and intellectuals who collaborate with state power.
    • The perception contributed to a self-congratulatory discourse.
    • Any lack of enthusiasm towards the model was greeted with intolerance.

    Failure of the Model

    • The recent phenomenon points to the role of uncontrolled economic expansion behind it.
    • The model suffers from the inability to meet the employment aspirations of the people.
    • It pushed them to live under authoritarian regimes (Gulf countries) overseas.
    • The public provision of health and education has been financed by borrowing.
    • Kerala has the highest per capita public debt among States.
    • The state has not done so well when viewed through the lens of gender justice.
    • High levels of female education have not led to an equally high participation of women in the labour force or in governance.
    • However, they participate equally in elections.
    • There has been overbuilding in Kerala, with absentee owners having invested in luxury houses they do not always occupy.
    • At the same time, poorer households are crowded out of safe locations on the plains to  dangerous ones on the hills.

    Drawbacks 

    • Public policy has failed miserably to regulate land use which led to rampant quarrying, which destabilised the earth’s surface.
    • In 2015, the state did away with environmental clearance for quarries in existence for three years.
    • In 2017, the rules for quarrying was relaxed further.
    • It also weakened the provisions of the legislation governing conversion of agricultural land into construction sites.
    • The rice paddies had produced food and served as massive sinks for rainwater.
    • Kerala’s principal political parties, irrespective of their ideologies, have responded to commercial interests over the welfare of ordinary people.

    5. A Politically Inconvenient Data Nugget

    P.S. The following data is taken from The Hindu editorial. It has not been published by the government or any news agency like PTI.

    Background

    Data on demonetisation’s contribution to the deepening economic slowdown may have been supressed by the Government.

    Task Force Reports

    • In September, 2017, at the Rajasva Gyan Sangam (an annual conference of senior tax administrators), Prime Minister Narendra Modi had made an observation regarding the need to redraft the Income Tax Act, 1961.
    • The Union Finance Ministry proceeded with the objective of making direct taxes simple and in consonance with India’s economic needs.
    • In 2017, it appointed a six-member Task Force, headed by Arbind Modi, for drafting a New Direct Tax Legislation.
    • The task force submitted the report and draft legislation to the Finance Minister and the Finance Secretary.
    • In 2018, the Finance Ministry appointed Akhilesh Ranjan, to succeed Mr. Modi as the task force convenor.
    • Ranjan submitted his report to the Finance Minister in 2019.

    Arbind Modi’s Report

    • Arbind Modi’s report had proposed two alternative approaches along with draft legislation corresponding to each of the models for a new direct taxes law.
    • It drew insights from the tax department’s database of annual tax returns filed by corporate firms and individuals.

    Impacts of Demonetisation

    • A table given in the report is a significant piece of evidence for how demonetisation may have affected companies.
    • The table shows aggregates of investments corporate firms disclosed in their annual tax return filings.
    • The aggregate of investments disclosed in the assessment year 2017-18, or financial year 2016-17, dropped to ₹4,25,051 Cr., a drop of nearly 60% from the previous year.
    • The investments by corporate firms that filed annual returns in each of the years from 2010-11 to 2016-17 as a percentage of GDP were 15%, 10.5%, 10.2%, 9.8%, 9%, 7.5% and 7%.
    • The aggregate figures are sourced from companies’ statutory disclosures, and not the estimates or findings of a survey.
    • Thus, the data is an undeniable evidence of demonetisation’s contribution to the deepening economic slowdown.

    Other Concerns

    • The share of loss-making companies has increased from 42% in 2013-14 to 45% in 2017-18.
    • There has been a decline in the number of corporate filers from the manufacturing sector over the period 2013-14 to 2017-18.
    • Only about 50% of the companies registered with the Registrar of Companies filed their income tax returns for the financial year 2016-17.
    • The return on equity declined from 16.4% in 2013-14 to 15.5% in AY 2015-16 and thereafter has reversed the trend and increased to 16.5% in 2017-18.
    • The productivity of the corporate tax is extremely low at 7.5% over the period 2013-14 to 2017-18.
    • The productivity points to the policy choices regarding tax concessions and the overall levels of non-compliance.
    • Given the limited fiscal space available to the Government, economic growth would necessarily have to be driven by private investment.
    • But, corporate investments have remained virtually stagnant despite the availability of sufficient retained earnings.

    GDP Growth Estimates

    • In the report, the trend in aggregate corporate investments figures corresponds to the investment slowdown apparent in the official GDP estimates for 2011-12 onwards.
    • However, the investments aggregate figure for 2016-17 brings into question the GDP growth estimate for the demonetisation year.
    • In the latest round of scheduled revisions, the government had revised upwards the 2016-17 GDP growth estimate, from 1% to 8.2%.
    • As per the revised estimate, the demonetisation year, is the best in the Modi government’s first tenure as far as GDP growth is concerned.
    • However, nearly every industry association reported sharp drops in sales that year.

      If you have any questions or opinions, please let us know in the comments!
      If you like what you just read, make sure to subscribe to our daily newsletter and our YouTube channel.
      Also, please share this with someone who might find this information useful.

      COMMENTS

      Disclaimer:thRADICAL is only for the Educational Purpose & Education sector. We are not owner of any Book, Notes, Magazine, PDF Materials, eBooks Available on it, Neither it been Created nor Scanned. We are only provide the link and Material already Available on the Internet. If any Violates the Law or there is a Problem so Please Just CONTACT US.
      Name

      2019,10,2019 || Important news articles The Hindu || Daily GK,10,26 November 2018 || Important news articles The Hindu || Daily GK,1,ACC,1,AFCAT,3,BOOKS,4,CDS,2,Daily GK,10,DAILY GK TH,76,eBOOK,4,ELIGIBILITY,1,EXAMS,1,FRONT NATIONAL INTERNATIONAL OPINION BUSINESS,5,FRONT NATIONAL INTERNATIONAL OPINION,4,Important news articles,10,NDA,2,PPDT & TAT,1,SSB,4,SSB HELP MATERIAL,10,SYLLABUS,1,The Hindu,10,WAT,1,
      ltr
      item
      theRADICAL news: 22 AUGUST 2019 || THE HINDU DAILY NEWS & CURRENT AFFAIRS ANALYSIS FOR UPSC, SSC, CAPF, CDS etc.
      22 AUGUST 2019 || THE HINDU DAILY NEWS & CURRENT AFFAIRS ANALYSIS FOR UPSC, SSC, CAPF, CDS etc.
      Get Daily News Analysis, Editorial Analysis and Current Affairs from The Hindu newspaper for free. The Hindu newspaper is one of the most important source for preparing GS/Gk for any competitive exam in India. This free Daily News Analysis, Editorial Analysis and Current Affairs from The Hindu newspaper will help you make notes for various competitive exams like SSC, CDS, UPSC Civil Services, UPSC CAPF, Banking, Railways RRBs, Insurance, UPSC IES, UPSC IFS, etc. This complete analysis contains both fact based news highlights for objective exams and in depth analysis of editorials and opinions for descriptive papers and essays in very easy and simplified language.
      https://1.bp.blogspot.com/-fijs07gm0Jw/XVdZ-V9lsII/AAAAAAAAHTg/suboKc6dnO0XT3lwh5gGB9K_meg5NJnGACLcBGAs/s640/hindu.jpg
      https://1.bp.blogspot.com/-fijs07gm0Jw/XVdZ-V9lsII/AAAAAAAAHTg/suboKc6dnO0XT3lwh5gGB9K_meg5NJnGACLcBGAs/s72-c/hindu.jpg
      theRADICAL news
      https://news.theradical.in/2019/08/22-august-2019-hindu-daily-news-current.html
      https://news.theradical.in/
      https://news.theradical.in/
      https://news.theradical.in/2019/08/22-august-2019-hindu-daily-news-current.html
      true
      2733039477521013595
      UTF-8
      Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy