PERIYAR IAS CURRENT AFFAIRS 6-MARCH-2018
Paper
1:
Topic: Indian culture will cover the
salient aspects of Art Forms, Literature and Architecture from ancient to
modern times.
6th
editon of India by the Nile festival
Context: Sixth edition of the
India by the Nile (IBN) festival 2018 is being held in Cairo, Egypt.
About
India by the Nile festival:
§
The annual festival showcases a range of Indian cultural output,
including contemporary and classical music, dance, puppet theatre, visual arts,
food and yoga.
§
It is the biggest foreign festival in Egypt and encourages
artistic collaborations between the two countries.
§
This year, the festival will also bring two new events, a fashion
show and screening of the Indian movies.
§
The festival is organised by the Embassy of India in Egypt and the
Maulana Azad Centre for Indian Culture in collaboration with entertainment
company Teamwork Arts.
What’s
important?
§
For Prelims: India by the Nile festival.
§
For Mains: Cultural linkages between India and Egypt.
Sources: the hindu.
Paper
2:
Topic: 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.
Special
Status To Andhra Pradesh
Context: Andhra Pradesh government
has asked the Centre to expedite resolution of all provisions in the AP
Reorganisation Act, 2014, including according special category status to the
state.
Background:
Andhra Pradesh has been
demanding a Special Category State (SCS) status from Centre ever since it was
decided to carve out Telangana along with capital city Hyderabad. Following the
bifurcation of A.P., Andhra lost a large volume of its revenue due to Hyderabad
remaining the capital of Telangana.
What
is SCS?
The Constitution does not
include any provision for categorisation of any State in India as a Special
Category Status (SCS) State. But, recognising that some regions in the country
were historically disadvantaged in contrast to others, Central plan assistance
to SCS States has been granted in the past by the erstwhile Planning Commission
body, National Development Council (NDC).
The NDC granted this status
based on a number of features of the States which included: hilly and difficult
terrain, low population density or the presence of sizeable tribal population,
strategic location along international borders, economic and infrastructural
backwardness and non-viable nature of State finances.
What
kind of assistance do SCS States receive?
The SCS States used to receive
block grants based on the Gadgil-Mukherjee formula, which effectively allowed
for nearly 30 per cent of the Total Central Assistance to be transferred to SCS
States as late as 2009-10.
§
Following the constitution of the NITI Aayog (after the
dissolution of the Planning Commission) and the recommendations of the
Fourteenth Finance Commission (FFC), Central plan assistance to SCS States has
been subsumed in an increased devolution of the divisible pool to all States
(from 32% in the 13th FC recommendations to 42%) and do not any longer appear
in plan expenditure.
§
The FFC also recommended variables such as “forest cover” to be
included in devolution, with a weightage of 7.5 in the criteria and which could
benefit north-eastern States that were previously given SCS assistance.
Besides, assistance to Centrally Sponsored Schemes for SCS States was given
with 90% Central share and 10% State share.
What’s
important?
§
For Prelims: Special Category Status.
§
For Mains: SCS- need, issues, challenges and solutions.
Sources: the hindu.
Topic: 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.
Cooperative
Election Authority
Context: The Haryana government
has announced that a Cooperative Election Authority would be set up in the
State for supervising the election process in cooperative bodies.
Constitution
97th Amendment Act:
The Constitution (Ninety
Seventh Amendment) Act 2011 relating to the co-operatives is aimed to encourage
economic activities of cooperatives which in turn help progress of rural India.
It is expected to not only ensure autonomous and democratic functioning of
cooperatives, but also the accountability of the management to the members and
other stakeholders. As per the amendment the changes done to constitution are:
§
In Part III of the constitution, after words “or unions” the words
“Cooperative Societies” was added.
§
In Part IV a new Article 43B was inserted, which says: The state
shall endeavour to promote voluntary formation, autonomous functioning,
democratic control and professional management of the co-operative societies”.
§
After Part IXA of the constitution, a Part IXB was inserted to
accommodate state vs centre roles.
What’s
important?
§
For Prelims: Cooperative bodies- constitutional provisions,
cooperative election authority.
§
For Mains: Cooperative bodies- significance and their need, 97th
Sources: the hindu.
Topic: Important aspects of
governance, transparency and accountability, e-governance- applications,
models, successes, limitations, and potential.
Panel
to study issues in Fintech space
Context: The Centre has set up a
steering committee to go into various issues relating to Fintech space in
India. The committee will be headed by Subhash Chandra Garg,
Secretary, Department of Economic Affairs.
Terms
of reference:
§
The committee will work with government agencies such as UIDAI to
explore creation and use of unique enterprise identification number.
§
It will also look into the possibility of international
co-operation opportunities in Fintech with countries such as Singapore, the
U.K., China and others.
§
The committee will consider means of using data with GSTN and data
residing with information utilities such as credit information companies (CICs)
and others in open domain with a view to developing applications for financing
of micro, small and medium enterprises (MSMEs).
§
It will also develop regulatory interventions e.g., regulatory
sandbox model, that will enhance the role of Fintech in sectors identified for
focused interventions. The ideas is to facilitate ease of doing business in the
Fintech sector.
What
is Fintech?
Fintech Or financial technology
is the industry known for championing software and technology in the financial
sector. A very broad term, it includes anything from a bank ATM, to software
used to help spot manipulation of securities markets.
Why
is it important?
India has a large population of
non-city folk, many million small enterprises and any number of small borrowers
without any credit history, who today cannot knock at the banks’ doors for
loans. It is therefore said to be just ripe for a Fintech revolution. To help
things along, the Government is expediting this by promoting the JAM trinity
(Jan Dhan, Aadhar, Mobile).
The reason why banking bigwigs
are watching these developments like hawks is that Fintech has enormous power
to disrupt old-world banks. They mostly function as online bazaars that simply
put borrowers in touch with lenders or entrepreneurs with investors, while they
pocket a fee on each transaction.
What’s
important?
§
For Prelims: Subhash Chandra Garg panel.
§
For Mains: FinTech- potential applications.
Sources: et.
Topic: Important International
institutions, agencies and fora, their structure, mandate.
Dispute
Settlement Body (DSB)
Context: The World Trade
Organisation’s Dispute Settlement Body (DSB) has agreed to India’s request for
setting up a panel to determine whether the country complied with a previous
ruling striking down its domestic content requirements for solar cells and
modules.
What’s
the issue?
In 2016, New Delhi had lost a
case against the US at the WTO after the global trade body stated that power
purchase agreements signed by the Indian government with solar firms for its
National Solar Mission did not meet international trade norms.
§
The US, which is of the opinion that New Delhi continues to apply
the “WTO-inconsistent measures”, had in December last year approached the
Geneva-based multi-lateral organisation demanding action against India for
non-compliance of the WTO ruling.
§
India, however, has been maintaining that it has complied with the
WTO’s ruling. India had requested the WTO to set up a panel to determine its
compliance with the rulings of the dispute.
Dispute
Settlement Body:
The General Council convenes as
the Dispute Settlement Body (DSB) to deal with disputes between WTO members. Such disputes may arise with
respect to any agreement contained in the Final Act of the Uruguay Round that
is subject to the Understanding on Rules and Procedures Governing the
Settlement of Disputes (DSU).
The DSB has authority to
establish dispute settlement panels, refer matters to arbitration, adopt panel,
Appellate Body and arbitration reports, maintain surveillance over the
implementation of recommendations and rulings contained in such reports, and
authorize suspension of concessions in the event of non-compliance with those
recommendations and rulings.
What’s
important?
§
For Prelims: Dispute settlement body, National solar mission.
§
For Mains: India – US Solar panel dispute.
Sources: the hindu.
Paper
3:
Topic: Awareness in the fields of
IT, Space, Computers, robotics, nano-technology, bio-technology and issues
relating to intellectual property rights.
CIMON
(Crew Interactive MObile CompanioN)
What
is it? Airbus, an aeronautics company based in Netherlands, is
developing CIMON (Crew Interactive MObile CompanioN), an AI-based space
assistant for Germany’s DLR Space Administration.
Context: Described by its creators
as a “flying brain”, this 3D-printed artificial intelligence system will soon
join the crew aboard the International Space Station (ISS) to assist
astronauts. It will tested during the European Space Agency’s Horizons mission
between June and October this year.
About
CIMON:
§
CIMON will be the first AI-based mission and flight assistance
system. The entire structure of CIMON is made up of plastic and metal, created
using 3D printing.
§
CIMON has a brain-like AI network and is designed to support
astronauts in performing routine work, for example by displaying procedures or
offering solutions to problems. With its face, voice and artificial
intelligence, becomes a genuine ‘colleague’ on board.
§
Applications: With CIMON, crew members can do more than just work
through a schematic view of prescribed checklists and procedures; they can also
engage with their assistant. CIMON makes work easier for the astronauts when
carrying out every day routine tasks, helps to increase efficiency, facilitates
mission success and improves security, as it can also serve as an early warning
system for technical problems.
What’s
important?
§
For Prelims: CIMON.
§
For Mains: AI- applications in various fields.
Sources: the hindu.
Topic: Awareness in the fields of
IT, Space, Computers, robotics, nano-technology, bio-technology and issues
relating to intellectual property rights.
Marshall
Islands to launch world-first digital legal tender
Context: The Marshall Islands will
launch the world’s first legal tender cryptocurrency. A law in this regard has
been passed by the parliament.
Key
facts:
§
The Marshall Islands has partnered with Israeli company Neema to
issue 24 million units of the Sovereign (SOV) digital currency.
§
The SOV will require users to identify themselves, thus avoiding
the anonymity that has kept bitcoin and other cryptocurrencies from gaining
support from governments.
How
is it different from ‘Petro’ cryptocurrency?
Venezuela had launched the
Petro cryptocurrency in February. Unlike the Petro, the Sovereign (SOV) will be
recognized in law as legal tender, holding equal status as the US dollar, which
is the Pacific island nation’s current currency.
Background:
Plans for possible sovereign
cryptocurrencies have gained momentum in recent months, as digital tokens
launched by private companies have jumped in value. Several governments,
including China, Estonia, and Iran, have discussed plans for their own digital
currency.
How
are cryptocurrencies used?
Cryptocurrency is fundamentally
a decentralised digital currency transferred directly between peers and the
transactions are confirmed in a public ledger, accessible to all the users. The
process of maintaining this ledger and validating the transactions, better
known as mining, is carried out in a decentralised manner. The underlying
principle of the authenticity of the present to historical transactions is
cryptographic proof, instead of trust; different from how it happens in the
case of traditional banking systems.
Concerns
associated:
Cryptocurrencies are being
denounced in many countries because of their use in grey and black markets.
There are two sets of interconnected risks; one being to the growth and
expansion of these platforms in the uncertain policy environment, and the other
being the risks these platforms pose to the users and the security of the
state. They also have the potential use for Illicit Trade and Criminal
Activities and can be used for Terror Financing.
Way
ahead:
The future and further success
of cryptocurrencies depends upon the way regulatory frameworks are devised.
Different countries have approached this innovation in different ways, and
therefore the regulatory environment remains uncertain. The governments will
have to take considered steps, given the risks from possible use of
cryptocurrencies in terror financing, money laundering and tax evasion.
What’s
important?
§
For Prelims: SOV, Petro.
§
For Mains: Cryptocurrencies- their usage, challenges, management
and challenges.
Sources: the hindu.
Facts
for Prelims:
India
remains 12th largest foreign holder of US govt securities:
Context: According to latest
official data, India is the 12th largest overseas holder of US government
securities, just behind oil rich Saudi Arabia, whose holding stood at USD 147.4
billion in December 2017.
Background: The holding of
India went up to USD 144.7 billion in December last, an increase of little over
USD 26 billion compared to the year-ago period.
Top 3: In 2017, neighbouring
China was the largest holder of US government securities with holdings to the
tune of USD 1.18 trillion, followed by Japan at USD 1.06 trillion. At the third
position was Ireland whose exposure rose to USD 326.5 billion.
India’s
first helitaxi launched in Bengaluru:
Context: IT capital Bengaluru
has become the first city in the country to have a HeliTaxi. The first helitaxi
service is being provided by a Bell 407 helicopter.
Vasudhaiva
Kutumbakam:
Context: The two-day national
seminar “Vasudhaiva Kutumbakam” was recently conducted at New Delhi. The
seminar was organised to spread the message that indigenous values and
teachings of Vedas can only help India achieve its lost glory and attain the
status of “Vishwa Guru” once again.
Meaning of Vasudhaiva
Kutumbakam: It is a Sanskrit phrase found in Hindu texts such as the Maha
Upanishad, which means “the world is one family”.
Saposhi:
What is it? It is a new malware
detected by cybersecurity agencies.
How it affects? It is capable
of taking over electronic devices and turning them into ‘bots’, which can then
be used for any purpose, including a Distributed Denial of Service attack which,
with enough firepower, can cripple entire industries.
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