Print Friendly, PDF & Email

Insights Daily Current Affairs+PIB : 27 November 2018

Are you Ready for Insta 75 Days Revision Plan (UPSC Prelims - 2020)?


Insights Daily Current Affairs+PIB : 27 November 2018


 

Paper 2 and 3:

Topics Covered:

  1. Indian Constitution- historical underpinnings, evolution, features, amendments, significant provisions and basic structure.
  2. Functions and responsibilities of the Union and the States, issues and challenges pertaining to the federal structure, devolution of powers and finances up to local levels and challenges therein.
  3. Role of external state and non-state actors in creating challenges to internal security.
  4. Security challenges and their management in border areas; linkages of organized crime with terrorism.

 

Article 370

 

What to study?

  • Static Part: Key features of Article 370 and related facts.
  • Dynamic and Current: Arguments in favour and against the removal of Article 370, what is the right move and can an amendment solve the issue?

 

Context: The Supreme Court has refused to entertain a fresh petition on Article 370, which gives special autonomous status to Jammu and Kashmir, and said that the issues raised in it were already part of the pending pleas.

 

What was the plea all about?

The petition sought a declaration that Article 370 of the Constitution had lapsed with the dissolution of constituent assembly of Jammu and Kashmir on January 26, 1957 and it cannot be treated as mandatory for exercise of powers of the President.

  • The plea has also sought that the Constitution of Jammu and Kashmir be declared as “arbitrary, unconstitutional and void”, claiming that it was against the supremacy of the Indian Constitution and contrary to the dictum of “One Nation, One Constitution, One National Anthem and One National Flag”.
  • It has sought declaring as arbitrary some provisions of the Jammu and Kashmir Constitution, which deals with permanent residency and flag of the valley among other issues, for being violative of the Preamble and the Indian Constitution.
  • The petition has said that continuance of two parallel constitutions, one for the Centre and other for the state of Jammu and Kashmir, “reeks of a weird dichotomy” as most of the provisions of the Indian Constitution has already been extended to the state.
  • It has alleged that due to vote bank politics, successive governments did nothing to repeal Article 370 and Constitution of Jammu and Kashmir was adopted much after the Indian Constitution came into force. It also added that the instrument of accession of October 26, 1947 does not talk about separate Constitution or constituent assembly for the state.

 

What is Article 370?

Article 370 of the Indian Constitution is a ‘temporary provision’ which grants special autonomous status to Jammu & Kashmir.

Under Part XXI of the Constitution of India, which deals with “Temporary, Transitional and Special provisions”, the state of Jammu & Kashmir has been accorded special status under Article 370.

  • All the provisions of the Constitution which are applicable to other states are not applicable to J&K.

 

Important provisions under the article:

According to this article, except for defence, foreign affairs, finance and communications, Parliament needs the state government’s concurrence for applying all other laws. Thus the state’s residents live under a separate set of laws, including those related to citizenship, ownership of property, and fundamental rights, as compared to other Indians.

  • Indian citizens from other states cannot purchase land or property in Jammu & Kashmir.
  • Under Article 370, the Centre has no power to declare financial emergency under Article 360 in the state. It can declare emergency in the state only in case of war or external aggression. The Union government can therefore not declare emergency on grounds of internal disturbance or imminent danger unless it is made at the request or with the concurrence of the state government.
  • Under Article 370, the Indian Parliament cannot increase or reduce the borders of the state.
  • The Jurisdiction of the Parliament of India in relation to Jammu and Kashmir is confined to the matters enumerated in the Union List, and also the concurrent list. There is no State list for the State of Jammu and Kashmir.
  • At the same time, while in relation to the other States, the residuary power of legislation belongs to Parliament, in the case of Jammu and Kashmir, the residuary powers belong to the Legislature of the State, except certain matters to which Parliament has exclusive powers such as preventing the activities relating to cession or secession, or disrupting the sovereignty or integrity of India.
  • The power to make laws related to preventive detention in Jammu and Kashmir belong to the Legislature of J & K and not the Indian Parliament. Thus, no preventive detention law made in India extends to Jammu & Kashmir.
  • Part IV (Directive Principles of the State Policy) and Part IVA (Fundamental Duties) of the Constitution are not applicable to J&K.

Sources: the hindu.

Mains Question: Critically comment on the history of Article 370 of the Indian Constitution, its implications and relevance for the Union of India.


Paper 2:

Topics Covered:

  1. Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; mechanisms, laws, institutions and bodies constituted for the protection and betterment of these vulnerable sections.

 

Minimum Wages Act for domestic workers

What to study?

  • Static Part: Key features of the proposed National Policy on Domestic Workers, International Labour Organisation’s Convention 189 on Decent Work for Domestic Workers.
  • Dynamic and Current: Need for a policy and guidelines on this, vulnerability and challenges faced by domestic workers, international experience.

 

Context: A petition has been filed in the Supreme Court seeking its intervention to bring dignity to “India’s invisible workforce in the informal sector” — the domestic workers.

 

Demands:

  • The petition asked the Supreme Court to lay down guidelines to protect the workers’ rights.
  • The petition sought the recognition of domestic work under the Minimum Wages Act, 1948.
  • Their work hours should be reduced to eight a day and they should be given a mandatory weekly off as a basic right under Article 21.

 

Need for guidelines:

Indian homes have witnessed a 120% increase in domestic workers in the decade post liberalisation. While the figure was 7,40,000 in 1991, it has increased to 16.6 lakh in 2001.

  • However, latent classism and lack of education make domestic workers prone to violence and abuse at the hands of their employers and placement agencies.
  • Worsening their vulnerabilities are the absence of proper documentation, which also increases their reliance on employers to access social security benefits.
  • As employment is largely through word of mouth or personal referrals, employment contracts are rarely negotiated, leaving the terms of employment to the whims of the employer.
  • Other issues include- Major incidences of violence (physical and sexual) by employers and the lack of redressal machinery for workers in this rapidly developing domestic services industry.

 

Who is a domestic worker?

A domestic worker is a person who is involved in domestic work like cleaning, washing, cooking etc. He/she plays an important role in the wellbeing of the family but are often neglected and abused by the members of family and the society.

 

Way ahead:

If the domestic workers are taken as assets & human resource, their standard of living will increase if minimum wage is fixed. It is also important to create awareness about the significant role played by the domestic workers in the wellbeing of the members of family and society as a whole, thereby imparting behavioural change.

 

Backgrounder- International Labour Organisation’s Convention 189 on Decent Work for Domestic Workers:

The ILO convention 189 on domestic workers mainly aims to provide domestic worker a decent working condition with daily and weekly (at least 24 h) rest hours, entitlement to minimum wage, to choose the place where they live and spend their leave and protective measures against violence etc.

 

Why India has not ratified the convention?

  • Daily household work is not considered as an economic activity in Indian society.
  • Lack of education, awareness and domestic worker unions among domestic workers which are mainly women centric.
  • Labour legislation comes under state government.
  • The national laws and practices are not fully into conformity with the provisions of the Convention.
  • One of the clauses of convention mentions “written contracts”. Chances of misuse as many domestic workers are illiterate.
  • Fear of misuse of unionisation: one of the clauses says “freedom of association and the effective recognition of the right to collective bargaining”.

Sources: the hindu.

Mains Question:

1. Why is India unwilling to ratify the International Labour Organisation’s Convention 189 on Decent Work for Domestic Workers? Comment whether India should ratify this Convention or not.

2. Why is there a need for the Parliament to urgently enact a comprehensive law covering the rights of the country’s roughly 20 million domestic workers? Examine.


Paper 2:

Topics Covered:

  1. Important aspects of governance, transparency & accountability and institutional and other measures.
  2. Role of civil services in a democracy.

 

Prevention of Corruption Act

 

What to study?

  • Static Part: Proposed amendments to the Prevention of Corruption Act.
  • Dynamic and Current: Need for Amendments, concerns associated and what needs to be done?

 

Context: The Supreme Court has ordered the government to respond to a petition challenging two amendments to the Prevention of Corruption Act.

 

Background:

The amendments were:

  • The introduction of S. 17 A (1) by which prior permission for investigation of corruption offences was required from the government.
  • The removal of S. 13 (1) (d) (ii) (criminal misconduct) from the Act. It had earlier made it an offence for a public servant to abuse his position to give pecuniary or other advantage to a third party.

 

Highlights of the Prevention of Corruption (Amendment) Bill, 2018:

Punishment for bribe-taking enhanced: Minimum punishment of 3 yrs, extendable up to 7 yrs with fine; from the earlier 6 months, with extension up to 3 yrs.

‘Undue Advantage’ expanded: The earlier limited definition of “undue advantage” expanded to now include “anything other than legal remuneration”.

Gifts criminalised: Gifts received for established undue advantage/mala-fide motive are now considered an act of corruption.

Collusive bribe-givers criminalised: For the first time, the giving of bribe has now been made a direct offence on par with taking of bribe. At the same time, protection has been built-in against coercive bribery, as long as the victim comes forward within 7 days.

Corporate bribery criminalised: Superiors to be held if employee/agent has bribed with their approval, for advancement of the organisation’s interests.

Immediate forfeiture: Law enforcement empowered for immediate attachment & forfeiture of illegal property of a public servant, invoking provisions of the Prevention of Money Laundering Act (PMLA).

Timely trial mandated: To conclude the investigation and trial within 2 yrs, extendable up to 4 yrs.

Sources: the hindu.

Mains Question: The amendments to Prevention of Corruption Act does a nice balancing act between avoiding policy paralysis and creating deterrence against corruption in public offices. Critically examine.

 


Paper 2 and 3:

Topics Covered:

  1. India and its neighbourhood- relations.
  2. Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
  3. Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora.
  4. Important International institutions, agencies and fora, their structure, mandate.
  5. Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth.

 

Regional Comprehensive Economic Partnership (RCEP)

What to study?

  • Static Part: RCEP- Key facts and Geographical location of member countries.
  • Dynamic and Current: Why is India concerned, gains and losses from this, what India needs to do?

 

Context: With just about 40% of the agenda items having been resolved, there is still a long way to go before the Regional Comprehensive Economic Partnership (RCEP) talks are concluded. It was agreed during the recently-concluded Singapore Ministerial meeting that the deadline for an agreement be shifted to 2019.

 

Outcomes of the Singapore Ministerial Meeting:

India had scored big diplomatic points at the Singapore meeting by getting the countries gathered to omit the phrase ‘significant conclusions’ from the leaders’ statements. Some major economies such as China and Japan felt that the phrasing should be that “substantial conclusions” had been achieved. India strongly opposed this.

 

Why India opposed?

India discovered that in some countries’ trade parlance, ‘substantial conclusions’ is a legal terminology. Adopting the term would have implied that discussions on market access were over, and that those countries would have to disclose the discussions to their Parliaments, and to their public. This has serious implications because only five out of 16 chapters had been concluded, and after the meeting in Singapore only seven had been concluded. None of the 7 chapters settled had to do with market access, discussions on which would have been seriously jeopardised.

After India pointed this out, several other countries such as Philippines, Indonesia, Malaysia, Vietnam, and Australia also took up the issue and supported India’s position on the matter.

 

What you need to know about RCEP?

RCEP is proposed between the ten member states of the Association of Southeast Asian Nations (ASEAN) (Brunei, Burma (Myanmar), Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, Vietnam) and the six states with which ASEAN has existing FTAs (Australia, China, India, Japan, South Korea and New Zealand).

RCEP negotiations were formally launched in November 2012 at the ASEAN Summit in Cambodia.

Aim: RCEP aims to boost goods trade by eliminating most tariff and non-tariff barriers — a move that is expected to provide the region’s consumers greater choice of quality products at affordable rates. It also seeks to liberalise investment norms and do away with services trade restrictions.

 

Why has it assumed so much significance in recent times?

When inked, it would become the world’s biggest free trade pact. This is because the 16 nations account for a total GDP of about $50 trillion and house close to 3.5 billion people. India (GDP-PPP worth $9.5 trillion and population of 1.3 billion) and China (GDP-PPP of $23.2 trillion and population of 1.4 billion) together comprise the RCEP’s biggest component in terms of market size.

 

Why is India concerned?

Greater access to Chinese goods may have impact on the Indian manufacturing sector. India has got massive trade deficit with China. Under these circumstances, India proposed differential market access strategy for China.

There are demands by other RCEP countries for lowering customs duties on a number of products and greater access to the market than India has been willing to provide.

 

Why India should not miss RCEP?

If India is out of the RCEP, it would make its exports price uncompetitive with other RCEP members’ exports in each RCEP market, and the ensuing export-losses contributing to foreign exchange shortages and the subsequent extent of depreciation of the rupee can only be left to imagination. Some of the sectors that have been identified as potential sources of India’s export growth impulses under RCEP to the tune of approximately $200 billion.

There are more compelling trade and economic reasons for RCEP to become India-led in future, than otherwise. India would get greater market access in other countries not only in terms of goods, but in services and investments also.

Sources: the hindu.

Mains Questions:

1. RCEP negotiations hold significant importance for India, as opting out of RCEP may push India on the margins of Asia. Critically analyse.

2. Indian policymakers need to be mindful of domestic industry’s concerns and not get into a raw deal with respect to the RCEP. Critically analyse.


Paper 2 and 3:

Topics Covered:

  1. Important International institutions, agencies and fora, their structure, mandate.
  2. Disaster and disaster management.

 

UN Central Emergency Response Fund

What to study?

  • Static Part: Key features of UN Central Emergency Fund- operation, funding and management.
  • Dynamic and Current: Significance of the fund and overview of economic crisis in Venezuela.

 

Context: The United Nations has announced $9.2 million in health and nutritional aid for crisis-stricken Venezuela, where hunger and preventable disease are soaring amid the collapse of the country’s socialist economic system.

  • The U.N. Central Emergency Response Fund (CERF) will support projects to provide nutritional support to children under five years old, pregnant women and lactating mothers at risk, and emergency health care for the vulnerable.

 

Need:

Venezuela has been in an economic depression for at least half a decade, adding to hyperinflation and mass food shortages. Millions of citizens have left Venezuela to find more opportunity in other Latin American countries.

 

About the UN Central Emergency Response Fund:

It is a humanitarian fund established by the United Nations General Assembly on December 15, 2005 and launched in March 2006.

With CERF’s objectives to 1) promote early action and response to reduce loss of life; 2) enhance response to time-critical requirements; and 3) strengthen core elements of humanitarian response in underfunded crises, CERF seeks to enable more timely and reliable humanitarian assistance to those affected by natural disasters and armed conflicts.

The fund is replenished annually through contributions from governments, the private sector, foundations and individuals.

 

Allocations:

The CERF grant element is divided into two windows:

  1. Rapid Responses (approximately two thirds of the grant element)

The Rapid Response window provides funds intended to mitigate the unevenness and delays of the voluntary contribution system by providing seed money for life-saving, humanitarian activities in the initial days and weeks of a sudden onset crisis or a deterioration in an ongoing situation. The maximum amount applied to a crisis in a given year typically does not exceed $30 million, although higher allocations can be made in exceptional circumstances.

  1. Underfunded Emergencies (approximately one third of the grant element).

The Underfunded Emergencies window supports countries that are significantly challenged by “forgotten” emergencies.

 

What is the Venezuela crisis?

Hyperinflation is the biggest problem faced by Venezuela. The inflation rate there is expected to reach a stunning one million per cent this year, putting it on par with the crises of Zimbabwe in the 2000s and Germany in the 1920s, according to the International Monetary Fund. The government claims that the country is the victim of an “economic war” and that the major issues are due to opposition “plots” and American sanctions.

 

What caused this increase?

The plummeting oil prices since 2014 is one of the main reasons why Venezuela’s currency has weakened sharply. The country, which has rich oil reserves largely depended on it for its revenue. But when the oil price dropped drastically in 2014, Venezuela which received 96 per cent of its revenue from the oil exports, suffered a shortage of foreign currency. This made import of basic essentials like food and medicines difficult.

 

Sources: the hindu.


Paper 2 and 3:

Topics Covered:

  1. Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
  2. Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.

RBI can transfer Rs 1 lakh crore of excess reserves to govt: Report

What to study?

  • Static Part: Provisions regulating transfer of surplus from RBI to govt.
  • Dynamic and Current: Issues associated, the recent spat over the issue between RBI and the Centre, what is the way ahead?

 

Context: According to Bank of America Merrill Lynch report, the Reserve Bank has “more than adequate” reserves and it can transfer over Rs 1 trillion to the government after a specially constituted panel identifies the “excess capital”.

  • The report notes that the central bank can transfer Rs 1 trillion to the government if the transfer is limited to passing excess contingency reserve and can go up to Rs 3 trillion if the total capital is included.

 

How does a central bank like the Reserve Bank of India (RBI) make profits?

The RBI is a “full service” central bank — not only is it mandated to keep inflation or prices in check, it is also supposed to manage the borrowings of the Government of India and of state governments; supervise or regulate banks and non-banking finance companies; and manage the currency and payment systems. While carrying out these functions or operations, it makes profits.

  • Typically, the central bank’s income comes from the returns it earns on its foreign currency assets — which could be in the form of bonds and treasury bills of other central banks or top-rated securities, and deposits with other central banks.
  • It also earns interest on its holdings of local rupee-denominated government bonds or securities, and while lending to banks for very short tenures, such as overnight. It claims a management commission on handling the borrowings of state governments and the central government.
  • Its expenditure is mainly on the printing of currency notes and on staff, besides the commission it gives to banks for undertaking transactions on behalf of the government across the country, and to primary dealers, including banks, for underwriting some of these borrowings.

 

What is the nature of the arrangement between the government and RBI on the transfer of surplus or profits?

Although RBI was promoted as a private shareholders’ bank in 1935 with a paid up capital of Rs 5 crore, the government nationalised it in January 1949, making the sovereign its “owner”. What the central bank does, therefore, is transfer the “surplus” — that is, the excess of income over expenditure — to the government, in accordance with Section 47 (Allocation of Surplus Profits) of the Reserve Bank of India Act, 1934.

Does the RBI pay tax on these earnings or profits?

No. Its statute provides exemption from paying income-tax or any other tax, including wealth tax.

 

How does the government build this surplus into its Budget early in the year?

Well before the annual Budget is unveiled, senior RBI and government officials discuss the likely amount which could be transferred. Typically, the government pitches for a higher share of the surplus while the central bank sometimes prefers to set aside funds for contigencies. Based on these talks, and calculations such as likely income and earnings, an indicative figure is given to the government, which it puts under the head ‘non-tax revenue’ in the receipts budget.

 

Is there an explicit policy on the distribution of surplus?

No. But a Technical Committee of the RBI Board headed by Y H Malegam, which reviewed the adequacy of reserves and a surplus distribution policy, recommended, in 2013, a higher transfer to the government.

Earlier, the RBI transferred part of the surplus to the Contigency Fund, to meet unexpected and unforeseen contigencies, and to the Asset Development Fund, to meet internal capital expenditure and investments in its subsidiaries in keeping with the recommendation of a committee to build contigency reserves of 12% of its balance sheet. But after the Malegam committee made its recommendation, in 2013-14, the RBI’s transfer of surplus to the government as a percentage of gross income (less expenditure) shot up to 99.99% from 53.40% in 2012-13.

Sources: the hindu.

Mains Question: What do you understand by RBI’s economic capital framework? Discuss whether RBI’s economic capital framework requires a fix?


Paper 3:

Topics Covered:

  1. Awareness in space.

 

NASA’s InSight spacecraft lands on red planet after six-month journey

What to study?

  • Static Part: Key facts on InSIght Mission.
  • Dynamic and Current: Why study mars, Objectives of the mission and its significance.

 

Context: InSight, a NASA spacecraft designed to burrow beneath the surface of Mars has landed on the red after a six-month, 482 million-km journey.

  • It was NASA’s ninth attempt to land at Mars since the 1976 Viking probes. All but one of the previous U.S. touchdowns was successful. NASA last landed on Mars in 2012 with the Curiosity rover.

 

About InSight Mission:

InSight is part of NASA’s Discovery Program, managed by the agency’s Marshall Space Flight Center in Huntsville, Alabama.

  • It will be the first mission to peer deep beneath the Martian surface, studying the planet’s interior by measuring its heat output and listening for marsquakes, which are seismic events similar to earthquakes on Earth.
  • It will use the seismic waves generated by marsquakes to develop a map of the planet’s deep interior.

 

Significance of the mission:

  • The findings of Mars’ formation will help better understand how other rocky planets, including Earth, were and are created. But InSight is more than a Mars mission – it is a terrestrial planet explorer that would address one of the most fundamental issues of planetary and solar system science – understanding the processes that shaped the rocky planets of the inner solar system (including Earth) more than four billion years ago.
  • InSight would delve deep beneath the surface of Mars, detecting the fingerprints of the processes of terrestrial planet formation, as well as measuring the planet’s “vital signs”: Its “pulse” (seismology), “temperature” (heat flow probe), and “reflexes” (precision tracking).
  • InSight seeks to answer one of science’s most fundamental questions: How did the terrestrial planets form?

 

Why Mars?

  • Previous missions to Mars have investigated the surface history of the Red Planet by examining features like canyons, volcanoes, rocks and soil. However, signatures of the planet’s formation can only be found by sensing and studying its “vital signs” far below the surface.
  • In comparison to the other terrestrial planets, Mars is neither too big nor too small. This means that it preserves the record of its formation and can give us insight into how the terrestrial planets formed. It is the perfect laboratory from which to study the formation and evolution of rocky planets. Scientists know that Mars has low levels of geological activity. But a lander like InSight can also reveal just how active Mars really is.

Sources: the hindu.


Paper-2;

Topic Covered:

  1. Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
  2. 2. Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes

 

“Paisa – Portal for Affordable Credit & Interest Subvention Access”, Launched under Day-NULM

 

Context: PAiSA – A centralized electronic platform for processing interest subvention on bank loans to beneficiaries under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM).

It is designed and developed by Allahabad Bank (Nodal bank).

Benefits of PAiSA:

  • Another effort by the government to connect directly with the beneficiaries for ensuring greater transparency and efficiency in delivery of services.
  • DBT of subvention on monthly basis under DAY-NULM will give the necessary financial support to small entrepreneurs in a timely manner.

All 35 States/UTs & all scheduled commercial banks, RRBs and Cooperative Banks are expected to be on board the PAiSA portal the year end.

Source: PIB

 


Paper 1 and 2;

Topics Covered:

  1. Salient features of Indian Society, Diversity of India
  2. Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

 

‘HAUSLA-2018’ was inaugurated in the Capital

 

The Ministry of Women and Child Development has launched the National Festival for Children of Child Care Institutions (CCIs)Hausla 2018.

The inter-Child Care Institution festival draws children from 18 States for the various events like painting competition, athletics meet, football, chess competition and speech writing as part of the Festival.

Reason behind Hausla:

  • To provide a national platform for the children from CCIs across India to showcase their talent.
  • To make them realize the hidden talent they possess
  • To help take it forward in their life.

Theme of the Event – “Child Safety”

Source: PIB


Paper 2 and 3;

Topics Covered:

  1. Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.

 

Protocol amending India-China DTAA

 

The Government of Republic of India and the Government of the People’s Republic of China have amended the Double Taxation Avoidance Agreement (DTAA) by signing a Protocol.

Purpose of the amendment of DTAA:

  • For the avoidance of double taxation.
  • For the prevention of fiscal evasion with respect to taxes on income.

Additional changes by signing the Protocol:

  • It updates the existing provisions for exchange of information to the latest international standards.
  • It incorporates changes required to implement treaty related minimum standards under the Action reports of Base Erosion & Profit Shifting (BEPS) Project, where India participated on an equal footing.

Legal Provision:

Under Section 90 of the Income-tax Act, 1961, India can enter into an agreement with a foreign country or specified territory for the avoidance of double taxation of income, for the exchange of information for the prevention of evasion.

Double Taxation Avoidance Agreement (DTAA):

It is referred as Tax Treaty, a bilateral economic agreement between two nations that aims to avoid or eliminate double taxation of the same income in two countries.

A DTAA applies in cases where a tax-payer resides in one country and earns income in another.

DTAAs can either be comprehensive to cover all sources of income or be limited to certain areas such as taxing of income from shipping, air transport, inheritance, etc.

India has DTAAs with more than eighty countries.

Source: PIB


Paper 2 and 3;

Topics Covered:

  1. Important International institutions, agencies and fora- their structure, mandate.
  2. Infrastructure: Energy, Ports, Roads, Airports, Railways etc.
  3. Investment models

 

Government of India and Asian Development Bank (ADB) sign $200 Million Loan to improve State Highways in Bihar.

 

The Asian Development Bank (ADB) and the Government of India signed a $200 million loan to finance widening and upgrading of about 230 Kilometers State Highways in Bihar to all-weather standards with road safety features.

Advantages of improved roads under the Project:

  • It will contribute to savings in vehicle operating cost and travel time.
  • It will reduce vehicle emissions, and
  • It will improve road safety.

Asian Development Bank (ADB):

The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.

It assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.

ADB is composed of 67 members, 48 of which are from the Asia and Pacific region.

Established on 19 December 1966

Headquartered — Manila, Philippines

Official United Nations Observer

 

Voting rights

  • It is modelled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with members’ capital subscriptions.
  • United States > Japan  > China > India >Australia

 

Source: PIB