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The Hindu Analysis Free PDF Download

Date: 08 September 2021

Bankrupting Reform | ToI

  • Insolvency and Bankruptcy Code (IBC)
  • Lower exit barriers for firms
  • Lower lending risks for financial intermediaries
  • Two key IBC institutions, National Company Law Tribunal (NCLT) and its appellate body, NCLAT, into focus.
  • NCLT plays a central role at two stages of an insolvency process.
  • At the very beginning it decides within a statutory deadline on whether a complaint can be admitted.
  • Subsequently, it has to judge if a resolution package of a firm submitted by creditors satisfies the law.
  • This body is underperforming as it’s short-staffed.
  • Consequently, there’s a growing pile of unresolved cases, undermining IBC’s efficacy.
  • A parliamentary standing committee report tabled last month said that of the sanctioned strength of 63 members across 16 NCLT benches, there are 34 vacancies, including that of the president.
  • There are 13,170 IBC cases involving approximately Rs 9 lakh crore pending before NCLT.
  • Of these, around 71% have been pending for more than six months.
  • Without NCLT and NCLAT functioning at full strength, IBC runs the risk of going the way of some other reforms.

Capitalist Social Values | ET

  • ‘Common prosperity’ is the latest buzzword in China’s financial markets.
  • Xi Jinping - curb inequality of income and achieve the goal of moderate wealth for all through taxation, compensation and donations.
  • Chinese billionaires + tech companies to generously loosen their purse strings and ‘donate’ billions of dollars.
  • India, as a democracy, can choose to be more rational, even as it should be prompt and resolute in addressing growing economic inequity.
  • India has the third-highest number of billionaires in the world (140) after the US and China.
  • According to Oxfam, India’s richest 1% held more than four times the wealth held by 953 million people who make up for the bottom 70% of the country’s population.
  • Income disparity is better endured when a country’s masses have affordable access to basic facilities for living.
  • The Covid-19 pandemic has emphasised how education and healthcare are neither universally accessible nor affordable.
  • Instead of clamping down on (rich) entrepreneurs, the needy need to be proactively supported through better enforcement of existing laws, weeding out the corrupt from the system and upholding rights of the socio-economically lagging.
  • The rich and enterprising need to be part of the solution rather than being looked upon as a cause of the problem.
  • The ‘Bombay Plan’
  • It’s time to get the right kind of ‘socialism’ through our capitalists.

Nipah amidst a pandemic | TH

  • Nipah virus outbreak in Kerala - one confirmed death
  • Nipah in Kozhikode and Malappuram was the first outbreak where terms such as ‘contact tracing’, ‘RT PCR’, ‘antigen test’, and ‘PPE kits’ became part of the ordinary discourse in Kerala.
  • The State’s public health system, earlier commended only for quality primary health care, earned appreciation for its ability to establish links between the infected and their contacts and to isolate them to prevent further spread.
  • There are now established protocols — at the national level — for the three key aspects of a potential pandemic: infection control, treatment and vaccination.
  • When a contagion hits, the world now understands what can and cannot be controlled within each geographic region’s context.
  • A standardised treatment for Nipah continues to be elusive and a spike in cases could spell disaster given the high mortality rate.

Making them pay | TH

  • South Korea’s newest legislation - ‘anti-Google’ law
  • Preventing app store operators, such as Google and Apple, from forcing app developers to use their in-store payment systems, for which they charge exorbitantly.
  • Australia, which only recently brought in a law to make Internet platforms pay media companies for displaying their content, is now reportedly thinking of bringing digital payment services such as Apple Pay, Google Pay and WeChat Pay under its regulatory ambit.
  • The European Union’s draft law seeks to make these large platform companies, “gatekeepers” as it refers to them, comply with a set of dos and don’ts that gives the smaller companies a fair chance.
  • The EU proposal is also centred around customers having more choice
  • In India too, the angst of app developers has been evident in recent times.
  • According to a report, Apple is facing an antitrust challenge in India from a Rajasthan-based non-profit called ‘Together We Fight Society’ on this issue.
  • It remains to be seen if the regulator, the Competition Commission of India, orders an investigation.
  • Last year, it started investigations into similar allegations against Google.
  • Only recently, it promoted the setting up of the Open Network for Digital Commerce to “democratise e-commerce” and “to provide alternatives to proprietary e-commerce sites”.

NEWS

  • States should take advantage of Agriculture Infrastructure Fund for benefits to reach small & marginal farmers: Narendra Singh Tomar
  • States should take advantage of Agriculture Infrastructure Fund for benefits to reach small & marginal farmers: Narendra Singh Tomar
  • India's COVID-19 vaccination coverage crosses 70 crore mark
  • CBDT amends Income-tax Rules to ease authentication of electronic records submitted in faceless assessment proceedings
  • Govt constitutes task force & expert committee to prepare road map for coal based hydrogen production
  • Rajnath Singh approves delegation of Financial powers to Armed Forces for Revenue Procurement
  • NSA Ajit Doval to hold talks with Russia's Security Council Secretary on evolving situation in Afghanistan
  • WFP appeals for more humanitarian aid to Ethiopia's Tigray province

ANS

Q.) The Mukhyamantri Paryatan Samvardhan Yojana was launched earlier this year by the sitting CM of which State to promote local heritage and tourism sites?

  1. Shivraj Singh Chouhan
  2. Yogi Adityanath
  3. Himanta Biswa Sarma
  4. Ashok Gehlot

Q.) Which country with a large expat population has proposed introducing two new visa categories, one for freelancers and one for entrepreneurs and skilled workers, in an effort to retain foreigners?

  1. Singapore
  2. UAE
  3. Saudi Arabia
  4. Canada