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The press council of India has suggested that Supreme Court of India frame guidelines for the media. Provide a critical evaluation of the suggestion.
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The Press Council of India (PCI) suggested that the Supreme Court frame guidelines for the media as these would be in the interest of not only administration of justice and rights of the litigant public but also the media themselves. Point of view of PCI According to PCI, the media, both print and electronic, have been playing an important role in shaping and sustaining Indian democracy. The scheme of the Press Council Act itself shows that the intention of Parliament is to allow self-regulation by the media as far as possible. While the print media is within the purview of the Press Council Act, the electronic media is not. Therefore, it is desirable to lay down guidelines for both the print and electronic media to follow in reporting court proceedings, rather than making statutory rules. According to PCI, self-regulation is always better than statutory regulation. However, when any TV channel, newspaper or news agency fails to adhere to the guidelines laid down by this court, appropriate orders may be passed in the facts and circumstances of each case. CRITICISM The suggestion has been criticised as a futile exercise which would be detrimental to the rights of the press and destroy democracy in this country. The argument against the suggestion is that, -people were sovereign in India. That is the reason why even the right to freedom of press was not absolute in this country. It was instead left to Parliament to lay down reasonable restrictions on this freedom. All institutions in our democracy are people's institutions. Even the judiciary is accountable to the people. People have a right to know what is happening. -the anomaly of the court deciding to lay down guidelines which in this case would “abridge” the freedoms of individuals instead of “protecting” them or “disciplining” officials. -the exercise undertaken by the court was not prudent in view of globalisation of information dissemination technology. THE WAY OUT - if guidelines are laid down, they should not be coercive and punitive but normative.
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##Question:The press council of India has suggested that Supreme Court of India frame guidelines for the media. Provide a critical evaluation of the suggestion.##Answer:The Press Council of India (PCI) suggested that the Supreme Court frame guidelines for the media as these would be in the interest of not only administration of justice and rights of the litigant public but also the media themselves. Point of view of PCI According to PCI, the media, both print and electronic, have been playing an important role in shaping and sustaining Indian democracy. The scheme of the Press Council Act itself shows that the intention of Parliament is to allow self-regulation by the media as far as possible. While the print media is within the purview of the Press Council Act, the electronic media is not. Therefore, it is desirable to lay down guidelines for both the print and electronic media to follow in reporting court proceedings, rather than making statutory rules. According to PCI, self-regulation is always better than statutory regulation. However, when any TV channel, newspaper or news agency fails to adhere to the guidelines laid down by this court, appropriate orders may be passed in the facts and circumstances of each case. CRITICISM The suggestion has been criticised as a futile exercise which would be detrimental to the rights of the press and destroy democracy in this country. The argument against the suggestion is that, -people were sovereign in India. That is the reason why even the right to freedom of press was not absolute in this country. It was instead left to Parliament to lay down reasonable restrictions on this freedom. All institutions in our democracy are people's institutions. Even the judiciary is accountable to the people. People have a right to know what is happening. -the anomaly of the court deciding to lay down guidelines which in this case would “abridge” the freedoms of individuals instead of “protecting” them or “disciplining” officials. -the exercise undertaken by the court was not prudent in view of globalisation of information dissemination technology. THE WAY OUT - if guidelines are laid down, they should not be coercive and punitive but normative.
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Briefly explain the outcome of BRICS summit – 2012. Do you think that Global Politics is hijacking the core agenda of BRICS?
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BRICS summit – 2012 - The fourth summit of BRICS largely focused on economic and development issues which included beginning the process for setting up a bank and inking two pacts to ease trade among each other. -The Delhi Declaration exhorted the World Bank and the International Monetary Fund to quickly realign their priorities and approach to the needs of the developing world. This is an agenda the five countries intend pursuing at the coming G-20 meeting in Mexico as well. -The leaders of BRICS (Brazil, Russia, India, China and South Africa), weighed the consequences of setting up a “BRICS Bank . The leaders agreed that the bank should in no way emerge as a competitor to the World Bank and the IMF but provide funds for projects that do not find favour with these institutions. In line with their professed commitment to multilateralism in economic and political problem solving, the leaders agreed to invest more in the United Nations Conference on Trade & Development (UNCTAD) which played a major role in catering to the interests of developing countries. The five-nation grouping's formulation on Iran condemned the West's pressure tactics to make other countries obey their latest restrictions on trade ties, especially in the energy sphere. Saying that a conflict would have disastrous consequences, it wanted the two antagonists to resolve suspicions over Iran's nuclear programme through talks on multilateral fora. On Afghanistan, BRICS exhorted the international community to stay the course on the development front for 10 years after the West withdraws most of its combat troops by 2014-end. The summit also supported a middle-of-the-road resolution on Syria. Thus we see that a range of issues are tackled. BRICS being a grouping of world’s most populous and fastest growing countries cannot avoid its responsibility in Global Politics. However, we see a balanced approach here and economic and development agendas are not allowd to be hijacked by Global Politics
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##Question:Briefly explain the outcome of BRICS summit – 2012. Do you think that Global Politics is hijacking the core agenda of BRICS?##Answer:BRICS summit – 2012 - The fourth summit of BRICS largely focused on economic and development issues which included beginning the process for setting up a bank and inking two pacts to ease trade among each other. -The Delhi Declaration exhorted the World Bank and the International Monetary Fund to quickly realign their priorities and approach to the needs of the developing world. This is an agenda the five countries intend pursuing at the coming G-20 meeting in Mexico as well. -The leaders of BRICS (Brazil, Russia, India, China and South Africa), weighed the consequences of setting up a “BRICS Bank . The leaders agreed that the bank should in no way emerge as a competitor to the World Bank and the IMF but provide funds for projects that do not find favour with these institutions. In line with their professed commitment to multilateralism in economic and political problem solving, the leaders agreed to invest more in the United Nations Conference on Trade & Development (UNCTAD) which played a major role in catering to the interests of developing countries. The five-nation grouping's formulation on Iran condemned the West's pressure tactics to make other countries obey their latest restrictions on trade ties, especially in the energy sphere. Saying that a conflict would have disastrous consequences, it wanted the two antagonists to resolve suspicions over Iran's nuclear programme through talks on multilateral fora. On Afghanistan, BRICS exhorted the international community to stay the course on the development front for 10 years after the West withdraws most of its combat troops by 2014-end. The summit also supported a middle-of-the-road resolution on Syria. Thus we see that a range of issues are tackled. BRICS being a grouping of world’s most populous and fastest growing countries cannot avoid its responsibility in Global Politics. However, we see a balanced approach here and economic and development agendas are not allowd to be hijacked by Global Politics
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“Indo- China model can help improve the relations between India and Pakistan”. Discuss.
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India and China have intensified efforts to iron out trade differences. A trade remedy joint working groupis set up with a mechanism to nip trade disputes in the bud. Although India has had several issues of discord with China, their trade ties are booming. Therefore it has been suggested that the India-China model could help improve the relations between India and Pakistan. There have been certain efforts in this direction recently, such as- - The Integrated Check Post (ICP) at Attarihas become operational for trade across the India-Pakistan border - India agrees in principle to allow FDI from Pakand Pakistan granted the Most Favoured Nation (MFN) status to India. - India, Pakistan to fast-track talks for trade in petro products, electricity - The issue of opening bank branches in each other’s country is being taken up on priority. - It is decided that a Joint Business Council be constituted with 10 prominent business persons to be nominated by each country.This Council shall provide an additional institutional framework for regular and sustained dialogue between the business communities.The Joint Business Council would also strategise and implement mechanisms for deepening the business to business and trade and commerce relations.
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##Question:“Indo- China model can help improve the relations between India and Pakistan”. Discuss.##Answer:India and China have intensified efforts to iron out trade differences. A trade remedy joint working groupis set up with a mechanism to nip trade disputes in the bud. Although India has had several issues of discord with China, their trade ties are booming. Therefore it has been suggested that the India-China model could help improve the relations between India and Pakistan. There have been certain efforts in this direction recently, such as- - The Integrated Check Post (ICP) at Attarihas become operational for trade across the India-Pakistan border - India agrees in principle to allow FDI from Pakand Pakistan granted the Most Favoured Nation (MFN) status to India. - India, Pakistan to fast-track talks for trade in petro products, electricity - The issue of opening bank branches in each other’s country is being taken up on priority. - It is decided that a Joint Business Council be constituted with 10 prominent business persons to be nominated by each country.This Council shall provide an additional institutional framework for regular and sustained dialogue between the business communities.The Joint Business Council would also strategise and implement mechanisms for deepening the business to business and trade and commerce relations.
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Briefly examine the Kakodkar committee report on Railway Safety.
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Kakodkar Committee on Railway Safety Kakodkar Committee on railway safety has just published its report, with plans that require an outlay of Rs. 1 lakh crore. These plans need huge sums which is being criticized as impractical. The Kakodkar Committee has made a number of references to “zero tolerance” to accidents . While this is a commendable ideal to strive for, achieving it is almost impossible unless there is access to unlimited resources. In the past, the GBS(gross budgetary support) has not exceeded Rs.20,000 crore in a year. Therefore, expecting a 300 per cent hike in GBS (Rs.20,000crore to Rs.60,000 crore for Vision 2020 and the Kakodkar Safety Plan put together) for just one sector of the economy from a government facing multiple competing demands and severe fiscal constraints seems impractical. Way ahead: - We should have a “National Railway policy”. We need a middle path which costs less and is more realistic
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##Question:Briefly examine the Kakodkar committee report on Railway Safety.##Answer:Kakodkar Committee on Railway Safety Kakodkar Committee on railway safety has just published its report, with plans that require an outlay of Rs. 1 lakh crore. These plans need huge sums which is being criticized as impractical. The Kakodkar Committee has made a number of references to “zero tolerance” to accidents . While this is a commendable ideal to strive for, achieving it is almost impossible unless there is access to unlimited resources. In the past, the GBS(gross budgetary support) has not exceeded Rs.20,000 crore in a year. Therefore, expecting a 300 per cent hike in GBS (Rs.20,000crore to Rs.60,000 crore for Vision 2020 and the Kakodkar Safety Plan put together) for just one sector of the economy from a government facing multiple competing demands and severe fiscal constraints seems impractical. Way ahead: - We should have a “National Railway policy”. We need a middle path which costs less and is more realistic
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Justice Bhandari
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India's nominee Justice DalveerBhandari of the Supreme Court was elected to the post of Judge of the International Court of Justice (ICJ)
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##Question:Justice Bhandari##Answer:India's nominee Justice DalveerBhandari of the Supreme Court was elected to the post of Judge of the International Court of Justice (ICJ)
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Effective Revenue Deficit
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Effective revenue deficitis arrived at by deducting from “the revenue deficit” all grants made — not only to state governments and constitutional authorities, but also to NGOs — for creation of capital assets not owned and held by the government. This innovation is being legalised by amending the FRBM Act.
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##Question:Effective Revenue Deficit##Answer:Effective revenue deficitis arrived at by deducting from “the revenue deficit” all grants made — not only to state governments and constitutional authorities, but also to NGOs — for creation of capital assets not owned and held by the government. This innovation is being legalised by amending the FRBM Act.
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"The Continuance of British rule in India had demanded one strategy while the leaving of India demanded a totally different strategy". Discuss this statement in the light of Cabinet mission Plan and British Policy towards Congress and Muslim League.
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Focus on Continuance of British rule demanded- Divide and Rule- Split the Hindus and Muslims, Moderates and Extremists But while leaving India the British wanted to leave back a united India as is apparent from The Cabinet Mission Plan. Discuss the differing interpretations of Congress and Muslim League regarding the Cabinet Mission plan. Discuss the British response of trying to reconcile the two groups- Congress and Muslim League
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##Question:"The Continuance of British rule in India had demanded one strategy while the leaving of India demanded a totally different strategy". Discuss this statement in the light of Cabinet mission Plan and British Policy towards Congress and Muslim League. ##Answer:Focus on Continuance of British rule demanded- Divide and Rule- Split the Hindus and Muslims, Moderates and Extremists But while leaving India the British wanted to leave back a united India as is apparent from The Cabinet Mission Plan. Discuss the differing interpretations of Congress and Muslim League regarding the Cabinet Mission plan. Discuss the British response of trying to reconcile the two groups- Congress and Muslim League
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Short history of the Local Self-Government till the Reforms of 1919.
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In 1870 Viceroy Lord Mayo's Resolution (for decentralisation of power to bring about administrative efficiency in meeting people's demand and to add to the finances of colonial regime) gave the needed impetus to the development of local institutions. It was a landmark in the evolution of colonial policy towards local government. The real benchmarking of the government policy on decentralisation can, however, be attributed to Lord Ripon who, in his famous resolution on local self-government on May 18, 1882, recognised the twin considerations of local government: (i) administrative efficiency and (ii) political education. The Ripon Resolution, which focused on towns, provided for local bodies consisting of a large majority of elected non-official members and presided over by a non-official chairperson. This resolution met with resistance from colonial administrators. The progress of local self-government was tardy with only half-hearted steps taken in setting up municipal bodies. Rural decentralisation remained a neglected area of administrative reform. The Montague-Chemsford reforms (1919) brought local self-government as a provincial transferred subject, under the domain of Indian ministers in the provinces. Due to organisational and fiscal constraints, the reform was unable to make panchayat institutions truly democratic and vibrant. However, the most significant development of this period was the 'establishment of village panchayats in a number of provinces, that were no longer mere ad hoc judicial tribunal, but representative institutions symbolising the corporate character of the village and having a wide jurisdiction in respect of civic matters'.
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##Question:Short history of the Local Self-Government till the Reforms of 1919.##Answer:In 1870 Viceroy Lord Mayo's Resolution (for decentralisation of power to bring about administrative efficiency in meeting people's demand and to add to the finances of colonial regime) gave the needed impetus to the development of local institutions. It was a landmark in the evolution of colonial policy towards local government. The real benchmarking of the government policy on decentralisation can, however, be attributed to Lord Ripon who, in his famous resolution on local self-government on May 18, 1882, recognised the twin considerations of local government: (i) administrative efficiency and (ii) political education. The Ripon Resolution, which focused on towns, provided for local bodies consisting of a large majority of elected non-official members and presided over by a non-official chairperson. This resolution met with resistance from colonial administrators. The progress of local self-government was tardy with only half-hearted steps taken in setting up municipal bodies. Rural decentralisation remained a neglected area of administrative reform. The Montague-Chemsford reforms (1919) brought local self-government as a provincial transferred subject, under the domain of Indian ministers in the provinces. Due to organisational and fiscal constraints, the reform was unable to make panchayat institutions truly democratic and vibrant. However, the most significant development of this period was the 'establishment of village panchayats in a number of provinces, that were no longer mere ad hoc judicial tribunal, but representative institutions symbolising the corporate character of the village and having a wide jurisdiction in respect of civic matters'.
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Contribution of Tribal uprisings in creating awareness against the British rule during the nineteenth century.
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Focus on Which all Tribal Uprisings: Santhal, Kol, Ulgulan; Areas effected, Main heroes; Their main causes: Land, Exploitation; Source of Political education, tribal unification, formulation of demands, Source of Tribal Identity Main reasons for failure: Not armed with latest weapons, Not organised, No central leadership etc.
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##Question:Contribution of Tribal uprisings in creating awareness against the British rule during the nineteenth century. ##Answer:Focus on Which all Tribal Uprisings: Santhal, Kol, Ulgulan; Areas effected, Main heroes; Their main causes: Land, Exploitation; Source of Political education, tribal unification, formulation of demands, Source of Tribal Identity Main reasons for failure: Not armed with latest weapons, Not organised, No central leadership etc.
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Revolutionary Terrorism in 1920s
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Focus on Why Revolutionary Terrorism: Failure of Non Cooperation, Russian Inspiration etc Main Heroes; Main Organizations: HRA, HSRA etc Main activities: Kakori, Meerut Conspiracy, Murder of Saunders, Bomb in Assembly etc Achievements: unification of younger brigade, awareness
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##Question:Revolutionary Terrorism in 1920s ##Answer:Focus on Why Revolutionary Terrorism: Failure of Non Cooperation, Russian Inspiration etc Main Heroes; Main Organizations: HRA, HSRA etc Main activities: Kakori, Meerut Conspiracy, Murder of Saunders, Bomb in Assembly etc Achievements: unification of younger brigade, awareness
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"A Nation in Making": Surendranath Banerjee
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Autobiography of SurendraNath banerjee Outlines the struggle of Surendranath Banerjee and his Political Ideas. His Political Ideas given in this book: He was an admirer of British. He had faith in Constitutional methods. Lover of Liberty. Faith in India’s past.
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##Question:"A Nation in Making": Surendranath Banerjee ##Answer:Autobiography of SurendraNath banerjee Outlines the struggle of Surendranath Banerjee and his Political Ideas. His Political Ideas given in this book: He was an admirer of British. He had faith in Constitutional methods. Lover of Liberty. Faith in India’s past.
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Positive effects of the Ghadar Movement
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Focus on Creation of awareness of the Indian Independence cause in the West Positive impetus to Sikhs’ morale as most Sikhs were serving in British armies Unification of many later day heroes of Indian Independence Movement
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##Question:Positive effects of the Ghadar Movement ##Answer:Focus on Creation of awareness of the Indian Independence cause in the West Positive impetus to Sikhs’ morale as most Sikhs were serving in British armies Unification of many later day heroes of Indian Independence Movement
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Namdhari Movement
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The Namdhari movement was founded by Baba Ram Singh in 1857 as one of the most influential and transitional socio-religious movements in Punjab. The Namdharis were required to wear the five symbols of Sikhism, with the only exception of the Kripan (sword). However, they were required to keep a Lathi (bamboos stave) with them. The authority of the hereditary custodians of the Sikh Gurdwaras (centres of worship) was also rejected by the Namdharis. The Namdharis were told to abstain from `drinking, stealing, adultery, falsehood, slandering, back-biting and cheating` and consumption of beef was strictly forbidden.
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##Question:Namdhari Movement ##Answer:The Namdhari movement was founded by Baba Ram Singh in 1857 as one of the most influential and transitional socio-religious movements in Punjab. The Namdharis were required to wear the five symbols of Sikhism, with the only exception of the Kripan (sword). However, they were required to keep a Lathi (bamboos stave) with them. The authority of the hereditary custodians of the Sikh Gurdwaras (centres of worship) was also rejected by the Namdharis. The Namdharis were told to abstain from `drinking, stealing, adultery, falsehood, slandering, back-biting and cheating` and consumption of beef was strictly forbidden.
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Karachi Session of Indian National Congress, 1931
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Presided by Sardar Patel In 1931, the Indian National Congress, at its Karachi session, adopted resolutions defining, as well as committing itself to the defence of fundamental civil rights, including socio-economic rights such as minimum wage, the abolition of untouchability and serfdom. Pandit Jawaharlal Nehru drafted the Resolution on Fundamental Rights and Economic Programme.
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##Question:Karachi Session of Indian National Congress, 1931 ##Answer:Presided by Sardar Patel In 1931, the Indian National Congress, at its Karachi session, adopted resolutions defining, as well as committing itself to the defence of fundamental civil rights, including socio-economic rights such as minimum wage, the abolition of untouchability and serfdom. Pandit Jawaharlal Nehru drafted the Resolution on Fundamental Rights and Economic Programme.
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Sohan Singh Bhakna
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Baba Sohan Singh Bhakna (1870–1968) was as Indian revolutionary, the founding president of the Ghadar Party, and a leading member of the party involved in the Ghadar Conspiracy of 1915.
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##Question:Sohan Singh Bhakna ##Answer:Baba Sohan Singh Bhakna (1870–1968) was as Indian revolutionary, the founding president of the Ghadar Party, and a leading member of the party involved in the Ghadar Conspiracy of 1915.
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Madan Lal Dhingra
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Madan Lal Dhingra was an Indian revolutionary freedom fighter.While studying in England, he assassinated Sir William Hutt Curzon Wyllie, a British official, hailed as one of the first acts of revolution in the Indian independence movement in the 20th century
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##Question:Madan Lal Dhingra ##Answer:Madan Lal Dhingra was an Indian revolutionary freedom fighter.While studying in England, he assassinated Sir William Hutt Curzon Wyllie, a British official, hailed as one of the first acts of revolution in the Indian independence movement in the 20th century
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Gandhara School of Art
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A consequence of merger of Greek, Syrian, Persian and Indian art traditions. The development of this form of art started in Parthian Period(50BC – 75AD). Gandh?ran style flourished and achieved its peak during the Kushan period from 1st Century to 5th Century.
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##Question:Gandhara School of Art ##Answer:A consequence of merger of Greek, Syrian, Persian and Indian art traditions. The development of this form of art started in Parthian Period(50BC – 75AD). Gandh?ran style flourished and achieved its peak during the Kushan period from 1st Century to 5th Century.
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Shab e barat
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15th Night of the 8th Month of Islamic calendar. Regarded as an auspicious night by Muslims and celebrated throughout the Indian subcontinent.
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##Question:Shab e barat ##Answer:15th Night of the 8th Month of Islamic calendar. Regarded as an auspicious night by Muslims and celebrated throughout the Indian subcontinent.
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Dr Satyapal
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Strong patriot. In his political views he was a progressive nationalist who believed in peaceful and constitutional methods. Key role played by him in the patriotic upsurge at Amritsar immediately before the Jallianwala Bagh tragedy (1919).
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##Question:Dr Satyapal ##Answer:Strong patriot. In his political views he was a progressive nationalist who believed in peaceful and constitutional methods. Key role played by him in the patriotic upsurge at Amritsar immediately before the Jallianwala Bagh tragedy (1919).
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The British weakness led to the independence of India in 1947 rather than the strength of Indian nationalism. Critically examine.
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Start from the World War II (1939) to 1947. In early 1942, the war situation compelled the British to open talks with the Indian leaders. The British forces had suffered heavy defeats at the hands of Japanese army. All proposals of British Government came as a result of loss of British paramountcy.(mention briefly 3-4 proposals) The success of Germany, Japan, and Italy put the British Power on the back foot.
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##Question:The British weakness led to the independence of India in 1947 rather than the strength of Indian nationalism. Critically examine.##Answer:Start from the World War II (1939) to 1947. In early 1942, the war situation compelled the British to open talks with the Indian leaders. The British forces had suffered heavy defeats at the hands of Japanese army. All proposals of British Government came as a result of loss of British paramountcy.(mention briefly 3-4 proposals) The success of Germany, Japan, and Italy put the British Power on the back foot.
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The responsibility for the failure of the Wavell Plan 1945 lies partly on Lord Wavell himself and partly on Mr. Jinnah. Discuss
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First give brief background of Wavell Plan 1945. Why failed (specially Wavell himself and Jinnah)- Jinnah called it as death warrant due to being reduced to minority of One third Lord Wavell had not taken the leaders into confidence as regards the composition of his own list of members of executive council. Lord Wavell allowed the league particular to veto the whole plan and thus alone to block the path of progress.
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##Question:The responsibility for the failure of the Wavell Plan 1945 lies partly on Lord Wavell himself and partly on Mr. Jinnah. Discuss##Answer:First give brief background of Wavell Plan 1945. Why failed (specially Wavell himself and Jinnah)- Jinnah called it as death warrant due to being reduced to minority of One third Lord Wavell had not taken the leaders into confidence as regards the composition of his own list of members of executive council. Lord Wavell allowed the league particular to veto the whole plan and thus alone to block the path of progress.
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“The nineteenth century reform movements improved the condition of Hindu Women.” Critically examine.
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Degrade position of women due to –Purdah system, early marriage, lack of education, unequal right in marrying, polyandry, female infanticide, sati system. Discuss the various social reform movements in background of this and how they contributed to improve the women condition. The Social reform movement played a vital role in passing of the following acts-Bengal regulation(1829) burning sati, Bengal Regulation (1804)- Declaration of infanticide illegal, Hindu widow remarriage act 1856, Age of consent act 1891, Sarda Act 1930.
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##Question:“The nineteenth century reform movements improved the condition of Hindu Women.” Critically examine.##Answer: Degrade position of women due to –Purdah system, early marriage, lack of education, unequal right in marrying, polyandry, female infanticide, sati system. Discuss the various social reform movements in background of this and how they contributed to improve the women condition. The Social reform movement played a vital role in passing of the following acts-Bengal regulation(1829) burning sati, Bengal Regulation (1804)- Declaration of infanticide illegal, Hindu widow remarriage act 1856, Age of consent act 1891, Sarda Act 1930.
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The policy of Moderates leaders was criticised as ‘Political mendicancy’. Elaborate
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Extremist leader criticised moderates policy as political mendicancy or tea party politics. They demanded a few concession and not freedom. They never demanded representative institutions for masses but representative institutions of modified character for educated community. Their demands were always worded in prayful and apologetic language and were wedded to the use of constitutional methods. Conclusion-Mention two most important contributions of moderate leaders.
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##Question:The policy of Moderates leaders was criticised as ‘Political mendicancy’. Elaborate##Answer:Extremist leader criticised moderates policy as political mendicancy or tea party politics. They demanded a few concession and not freedom. They never demanded representative institutions for masses but representative institutions of modified character for educated community. Their demands were always worded in prayful and apologetic language and were wedded to the use of constitutional methods. Conclusion-Mention two most important contributions of moderate leaders.
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Top Extremist Leaders differed in their emphasis on political ideals and practical course of action. Discuss
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Top extremist leaders- Aurobindo Ghosh, Tilak and Lala lajpat Rai differed in their emphasis on political ideas and political course of action. Tilak’s conception of ‘swaraj’ means some short of self government while Aurobindo conceived of Swaraj as complete independence from foreign rule. Tilak’s revolutionary fervour somewhat mellowed towards the end of his political career and he showed signs of cooperation with Government while Aurobindo’s concept of ‘complete independence’ was transformed into ‘Human unity’ and “world union’. Conclusion- - Extremist was in fact an attitude of mind and a practical strategy to meet a situation. - The policy of the extremist yielded good dividend-the partition of Bengal annulled. - They talked of democracy constitution and progress and talked of broadening the social base of national movement.
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##Question:Top Extremist Leaders differed in their emphasis on political ideals and practical course of action. Discuss##Answer:Top extremist leaders- Aurobindo Ghosh, Tilak and Lala lajpat Rai differed in their emphasis on political ideas and political course of action. Tilak’s conception of ‘swaraj’ means some short of self government while Aurobindo conceived of Swaraj as complete independence from foreign rule. Tilak’s revolutionary fervour somewhat mellowed towards the end of his political career and he showed signs of cooperation with Government while Aurobindo’s concept of ‘complete independence’ was transformed into ‘Human unity’ and “world union’. Conclusion- - Extremist was in fact an attitude of mind and a practical strategy to meet a situation. - The policy of the extremist yielded good dividend-the partition of Bengal annulled. - They talked of democracy constitution and progress and talked of broadening the social base of national movement.
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The emergence of Left Ideology
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- The 20’s and 30’s of the 20th century witnessed the development of the Left Ideologies and a powerful Socialist trend developed in the nationalist movement. The communist Party of India came into existence. - The socialist Ideas influenced national leaders like Jawaharlal Nehru, Subhash Chandra Bose, a large number of socialist- minded groups and individuals. Within the Congress Party socialist ideas made a dent and the congress Socialist Party was organised in 1934.
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##Question:The emergence of Left Ideology##Answer:- The 20’s and 30’s of the 20th century witnessed the development of the Left Ideologies and a powerful Socialist trend developed in the nationalist movement. The communist Party of India came into existence. - The socialist Ideas influenced national leaders like Jawaharlal Nehru, Subhash Chandra Bose, a large number of socialist- minded groups and individuals. Within the Congress Party socialist ideas made a dent and the congress Socialist Party was organised in 1934.
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Significance of Quit India Movement
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Easy question can be answered by picking up any standard book.
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##Question:Significance of Quit India Movement##Answer:Easy question can be answered by picking up any standard book.
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“There is great potential in BRICS member countries for not just combining to address global issues but, perhaps even more significantly, for learning from one another.” Comment on the statement in the backdrop of BRICS Summit,2012 held in New Delhi.
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Recent Agreements in New Delhi which reflect that BRICS can play a major role in addressing global issues -
Making a strong statement on Iran and adopting a middle-of-the-road resolution on Syria Working together to push for a different global financial architecture An agreement to encourage trade denominated in bilateral currencies. Agreement on setting up of BRICS Development Bank How BRICS countries can learn from each other
At the Financial Forum in recent BRICS summit, it became evident how much India has to learn from Brazil and China in the matter of development banking . The example of Brazil, particularly BNDES, or Brazilian Development Bank, in entering areas and promoting activities that would not occur purely through the incentives determined by the market could provide some guidance about how this can happen even in a very open and largely market-driven economy like India There are also immense possibilities for technology sharing and even coordinating technology development in a world where intellectual property rights, still largely controlled by northern multinational companies, have emerged as a major constraint on development. There are opportunities for creative policy thinking that can be shared for dealing with current global financial crisis, growth inequality dilemma and other developmental priorities Encouragement of particular patterns of trade and investment among member countries and to work out the ways in which the patterns of trade and investment flows can be altered to emphasise the creation of decent employment For cooperation in areas such as developing “green” economies . The description of the work of the South African Development Bank illuminated the strategy of creating financial structures and mechanisms to promote the “green economy” through environmentally desirable activities and technologies The BRICS countries are indeed remarkably diverse but there are some commonalities and common challenges which these countries are facing. There is a need to develop new strategies for dealing with these challenge, through mutual cooperation. (317 words)
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##Question:“There is great potential in BRICS member countries for not just combining to address global issues but, perhaps even more significantly, for learning from one another.” Comment on the statement in the backdrop of BRICS Summit,2012 held in New Delhi.##Answer: Recent Agreements in New Delhi which reflect that BRICS can play a major role in addressing global issues -
Making a strong statement on Iran and adopting a middle-of-the-road resolution on Syria Working together to push for a different global financial architecture An agreement to encourage trade denominated in bilateral currencies. Agreement on setting up of BRICS Development Bank How BRICS countries can learn from each other
At the Financial Forum in recent BRICS summit, it became evident how much India has to learn from Brazil and China in the matter of development banking . The example of Brazil, particularly BNDES, or Brazilian Development Bank, in entering areas and promoting activities that would not occur purely through the incentives determined by the market could provide some guidance about how this can happen even in a very open and largely market-driven economy like India There are also immense possibilities for technology sharing and even coordinating technology development in a world where intellectual property rights, still largely controlled by northern multinational companies, have emerged as a major constraint on development. There are opportunities for creative policy thinking that can be shared for dealing with current global financial crisis, growth inequality dilemma and other developmental priorities Encouragement of particular patterns of trade and investment among member countries and to work out the ways in which the patterns of trade and investment flows can be altered to emphasise the creation of decent employment For cooperation in areas such as developing “green” economies . The description of the work of the South African Development Bank illuminated the strategy of creating financial structures and mechanisms to promote the “green economy” through environmentally desirable activities and technologies The BRICS countries are indeed remarkably diverse but there are some commonalities and common challenges which these countries are facing. There is a need to develop new strategies for dealing with these challenge, through mutual cooperation. (317 words)
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Comment on the guidelines recently issued by the Ministry of Culture on the sale and auction of memorabilia
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Periodic attempts are made by certain persons/agencies/organizations to gain commercial profit from the international auction of art, antiquities and other objects of importance to the nation and its people. A campaign is normally launched a few days/weeks in advance, by drawing the attention of the media to the fact that these objects would be put up for public auction, primarily with the purpose of stirring up sentiments and a demand to compete with higher and higher bids, so as to push up the auction value of such items, by playing upon national feelings. Government considered the matter and formulated the following Guidelines regarding sale and auction of important memorabilia:- 1. Government does not encourage auctions of memorabilia of its iconic leaders and cultural achievers and does not, therefore, participate in them. This stand may be made widely known as intense public sentiment has been articulated on several occasions in the recent past. 2. Further, such auction often constitutes a breach or violation of the trust of the person who presented or bequeathed the items to the owners who now intend to auction them, for a primarily commercial motive. 3. If any items under the auction are covered under the Antiquities and Art Treasures Act, 1972, Government would ensure that stringent legal action is taken against consequences all those concerned. An amendment of the Act to cover such important memorabilia may also be considered for inclusion to enable the Government to take suitable action. 4. Government would not encourage such (obviously commercial) motives, by entering into the proposed auctions by participating directly and thereby further pushing up the auction value of the items under consideration, at the expense of the Indian taxpayer. 5. If, however, any private person or organization, that has expertise in the dynamics of these auction systems, proposes to participate in such auctions, government may (wherever required) offer them such support and facility, provided the ultimate aim is to restore the items under consideration to India, through an appropriate Museum, Gallery or other Institution. 6. Gandhi Smriti & Darshan Samiti may prepare and maintain a comprehensive list of important memorabilia relating to Mahatma Gandhi, as available at present, with numerous institutions/ groups/ individuals. 7.Similar exercise may be taken up by notified institutions for other iconic personalities, as may be decided by Government.
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##Question:Comment on the guidelines recently issued by the Ministry of Culture on the sale and auction of memorabilia##Answer:Periodic attempts are made by certain persons/agencies/organizations to gain commercial profit from the international auction of art, antiquities and other objects of importance to the nation and its people. A campaign is normally launched a few days/weeks in advance, by drawing the attention of the media to the fact that these objects would be put up for public auction, primarily with the purpose of stirring up sentiments and a demand to compete with higher and higher bids, so as to push up the auction value of such items, by playing upon national feelings. Government considered the matter and formulated the following Guidelines regarding sale and auction of important memorabilia:- 1. Government does not encourage auctions of memorabilia of its iconic leaders and cultural achievers and does not, therefore, participate in them. This stand may be made widely known as intense public sentiment has been articulated on several occasions in the recent past. 2. Further, such auction often constitutes a breach or violation of the trust of the person who presented or bequeathed the items to the owners who now intend to auction them, for a primarily commercial motive. 3. If any items under the auction are covered under the Antiquities and Art Treasures Act, 1972, Government would ensure that stringent legal action is taken against consequences all those concerned. An amendment of the Act to cover such important memorabilia may also be considered for inclusion to enable the Government to take suitable action. 4. Government would not encourage such (obviously commercial) motives, by entering into the proposed auctions by participating directly and thereby further pushing up the auction value of the items under consideration, at the expense of the Indian taxpayer. 5. If, however, any private person or organization, that has expertise in the dynamics of these auction systems, proposes to participate in such auctions, government may (wherever required) offer them such support and facility, provided the ultimate aim is to restore the items under consideration to India, through an appropriate Museum, Gallery or other Institution. 6. Gandhi Smriti & Darshan Samiti may prepare and maintain a comprehensive list of important memorabilia relating to Mahatma Gandhi, as available at present, with numerous institutions/ groups/ individuals. 7.Similar exercise may be taken up by notified institutions for other iconic personalities, as may be decided by Government.
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India recently voted against Srilanka on UN Human Right Council’s resolution. What was rational behind India’s vote and what impact it may have on India-SriLanka relationships ?
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UNHRC’s resolution called for accountability on part of the Sri Lankan government to the widespread human rights violations during the final phases of the war against LTTE in 2009, and India voted against Srilanka in the favour of resolution. Rational behind India’s Vote
o It is assumed that India's vote was heavily influenced by the political parties in Tamil Nadu . However, to interpret the decision as a result of the influence Tamil political parties would be a flawed generalisation. o Prime Minister had rationalised India's decision as one that would protect the dignity of the Tamil population . o In addition, it was also some sort of a moral and ideological awakening - values that need not be estranged from real politik every time. o It was an admission of the fact that a policy of engagement for the last three years has not been achieved in pushing Colombo to do all that it could for the Tamil population and hence time is ripe for a course correction. Impact on India-Srilanka Relationships
o Since then, Sri Lankan media have reported a rise in anti-India feelings some even advocating that Sri Lanka explore a friendlier tie with China, which voted against the resolution, to counter India. o But both Sri Lankan and Indian govt. has ruled out any impact of the UNHRC vote on the New Delhi-Colombo ties. o Even then, a minor impact can not be ruled out. o From Sri Lanka's point of view, it is unlikely that the SriLankan government would let the bilateral ties between the two nations run into a cold phase. o As the dust settles, Colombo would be grateful to New Delhi for having toned down the wordings and intensity of the resolution. It is now time for Sri Lanka to rethink its actions for the past three years. The choice for Colombo is between reform and addressing the genuine grievances of the Tamil population, and withdrawing into a shell and continuing the same policies which has brought about the present fate on itself. (332 Words)
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##Question:India recently voted against Srilanka on UN Human Right Council’s resolution. What was rational behind India’s vote and what impact it may have on India-SriLanka relationships ?##Answer: UNHRC’s resolution called for accountability on part of the Sri Lankan government to the widespread human rights violations during the final phases of the war against LTTE in 2009, and India voted against Srilanka in the favour of resolution. Rational behind India’s Vote
o It is assumed that India's vote was heavily influenced by the political parties in Tamil Nadu . However, to interpret the decision as a result of the influence Tamil political parties would be a flawed generalisation. o Prime Minister had rationalised India's decision as one that would protect the dignity of the Tamil population . o In addition, it was also some sort of a moral and ideological awakening - values that need not be estranged from real politik every time. o It was an admission of the fact that a policy of engagement for the last three years has not been achieved in pushing Colombo to do all that it could for the Tamil population and hence time is ripe for a course correction. Impact on India-Srilanka Relationships
o Since then, Sri Lankan media have reported a rise in anti-India feelings some even advocating that Sri Lanka explore a friendlier tie with China, which voted against the resolution, to counter India. o But both Sri Lankan and Indian govt. has ruled out any impact of the UNHRC vote on the New Delhi-Colombo ties. o Even then, a minor impact can not be ruled out. o From Sri Lanka's point of view, it is unlikely that the SriLankan government would let the bilateral ties between the two nations run into a cold phase. o As the dust settles, Colombo would be grateful to New Delhi for having toned down the wordings and intensity of the resolution. It is now time for Sri Lanka to rethink its actions for the past three years. The choice for Colombo is between reform and addressing the genuine grievances of the Tamil population, and withdrawing into a shell and continuing the same policies which has brought about the present fate on itself. (332 Words)
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“The Seoul Summit, 2012 basically consolidated the commitments made in Washington in 2010.” In context of the above statement, bring out the global initiatives and particularly India’s stand towards international security issues.
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There are a number of points particularly worthy of note in the Seoul Communiqué in Nuclear Security Summit 2012
o The Seoul Communiqué builds on the objectives and measures set out in the 2010 Washington Communiqué to identify 11 areas of priority in nuclear security. o It provides important timelines for advancing nuclear security objectives, such as the target year (end of 2013) for states to announce voluntary actions on minimizing the use of highly enriched uranium (HEU) o the goal year (2014) for bringing the amended Convention on the Physical Protection of Nuclear Materials (CPPNM) into effect. o It reflects the need to address both the issues of nuclear security and nuclear safety in a coherent manner for the sustainable peaceful uses of nuclear energy. o It also emphasizes the need to better secure spent nuclear fuel and radioactive waste . o It sets out specific measures to prevent radiological terrorism , an issue which was only briefly touched upon at the Washington Summit. India’s Stand
o India is party to all the 13 universal instruments accepted as benchmarks for a State’s commitment to combat international terrorism. Particularly, India is party to the Convention on the Physical Protection of Nuclear Material and party to the International Convention for the Suppression of Acts of Nuclear Terrorism. o India has consistently supported IAEA’s central role in facilitating national efforts to strengthen nuclear security and in fostering effective international cooperation. India is a member of the IAEA Commission on Nuclear Safety Standards and the Advisory Group on Nuclear Security. o The Indian Atomic Energy Act 1962 provides the legal framework for securing nuclear materials and facilities. o At the first Nuclear Security Summit, India announced that it would establish a Global Centre for Nuclear Energy Partnership. To begin with, the Centre will consist of four Schools dealing with Advanced Nuclear Energy System Studies, Nuclear Security, Radiation Safety, and the application of Radioisotopes and Radiation Technology in the areas of healthcare, agriculture and food. (319 words)
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##Question:“The Seoul Summit, 2012 basically consolidated the commitments made in Washington in 2010.” In context of the above statement, bring out the global initiatives and particularly India’s stand towards international security issues.##Answer: There are a number of points particularly worthy of note in the Seoul Communiqué in Nuclear Security Summit 2012
o The Seoul Communiqué builds on the objectives and measures set out in the 2010 Washington Communiqué to identify 11 areas of priority in nuclear security. o It provides important timelines for advancing nuclear security objectives, such as the target year (end of 2013) for states to announce voluntary actions on minimizing the use of highly enriched uranium (HEU) o the goal year (2014) for bringing the amended Convention on the Physical Protection of Nuclear Materials (CPPNM) into effect. o It reflects the need to address both the issues of nuclear security and nuclear safety in a coherent manner for the sustainable peaceful uses of nuclear energy. o It also emphasizes the need to better secure spent nuclear fuel and radioactive waste . o It sets out specific measures to prevent radiological terrorism , an issue which was only briefly touched upon at the Washington Summit. India’s Stand
o India is party to all the 13 universal instruments accepted as benchmarks for a State’s commitment to combat international terrorism. Particularly, India is party to the Convention on the Physical Protection of Nuclear Material and party to the International Convention for the Suppression of Acts of Nuclear Terrorism. o India has consistently supported IAEA’s central role in facilitating national efforts to strengthen nuclear security and in fostering effective international cooperation. India is a member of the IAEA Commission on Nuclear Safety Standards and the Advisory Group on Nuclear Security. o The Indian Atomic Energy Act 1962 provides the legal framework for securing nuclear materials and facilities. o At the first Nuclear Security Summit, India announced that it would establish a Global Centre for Nuclear Energy Partnership. To begin with, the Centre will consist of four Schools dealing with Advanced Nuclear Energy System Studies, Nuclear Security, Radiation Safety, and the application of Radioisotopes and Radiation Technology in the areas of healthcare, agriculture and food. (319 words)
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What are the major recommendations of M V Nair report regarding priority sector lending ?
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M V Nair committe has reviewed the existing guidelines on lending to priority sector categories including agriculture, MSME and export. Their recommendations are -
o The sector ‘agriculture and allied activities’ maybe a composite sector within priority sector, by doing away with distinction between direct and indirect agriculture. The targets for agriculture and allied activities may be 18 per cent of net credit o A sub target for small and marginal farmers within agriculture and allied activities is recommended, equivalent to 9 percent of net credit o The MSE sector may continue to be under priority sector. Within MSE sector, a sub target for micro enterprises is recommended equivalent to 7 percent of net credit o Special treatment should be given to small and marginal farmers and housing loans below Rs 2 lakhs should be classified under priority sector. o Priority sector targets for public sector and private sector banks could be retained at the current level of 40% of the net credit to the sector. o It has recommended severe changes should be made to exposure of foreign banks. Foreign banks’ priority sector target should be upped from 32% to 40%. o The committee has recommended that 5% of bank's credit to NBFCs could be classified priority sector. Lending to gold companies will not be classified as priority sector. o Securitized loans could also be classified under the priority sector. (222 words)
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##Question:What are the major recommendations of M V Nair report regarding priority sector lending ?##Answer: M V Nair committe has reviewed the existing guidelines on lending to priority sector categories including agriculture, MSME and export. Their recommendations are -
o The sector ‘agriculture and allied activities’ maybe a composite sector within priority sector, by doing away with distinction between direct and indirect agriculture. The targets for agriculture and allied activities may be 18 per cent of net credit o A sub target for small and marginal farmers within agriculture and allied activities is recommended, equivalent to 9 percent of net credit o The MSE sector may continue to be under priority sector. Within MSE sector, a sub target for micro enterprises is recommended equivalent to 7 percent of net credit o Special treatment should be given to small and marginal farmers and housing loans below Rs 2 lakhs should be classified under priority sector. o Priority sector targets for public sector and private sector banks could be retained at the current level of 40% of the net credit to the sector. o It has recommended severe changes should be made to exposure of foreign banks. Foreign banks’ priority sector target should be upped from 32% to 40%. o The committee has recommended that 5% of bank's credit to NBFCs could be classified priority sector. Lending to gold companies will not be classified as priority sector. o Securitized loans could also be classified under the priority sector. (222 words)
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“Government must act as the guarantor of universal health coverage” Elaborate more on the given statement along with the recommendations made by a High Level Expert Group (HLEG) on Universal Health Coverage (UHC), constituted by the Planning Commission.
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UHC should not only be developmental priority but it should be moral responsibility of Government. India has a poor record of 1.2% of GDP spending in health sector and out of pocket expenditure on health remains very high at 71 % of all spending. Apart from improving people's health, adopting UHC is likely to generate millions of new jobs, enhance productivity, and promote equity. Major recommendation : A health entitlement card should assure every citizen access to a national health package of essential primary, secondary and tertiary care, both inpatient and outpatient. Services included under UHC must be tax funded and cashless at delivery . User fees are to be abolished because they are inefficient, inadequate and iniquitous. Contributory social insurance is not appropriate for countries like India where a large segment of the workforce — close to 93 per cent — is in the unorganised sector and vast numbers are below or near the poverty line. Primary health care and District hospitals should be strengthened. There is a need for improvement in the size and quality of our health workforce. Regulatory systems need strengthening. Larger investments should be made in health promoting programmes in other sectors such as water, sanitation, nutrition, environment, urban design and livelihood generation. Willing private providers need to fill gaps by providing cashless service and that would be compensated by pre-determined cost per package. This way it will act as extension to public service and Private providers wont compete for providing same services. (244 words)
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##Question:“Government must act as the guarantor of universal health coverage” Elaborate more on the given statement along with the recommendations made by a High Level Expert Group (HLEG) on Universal Health Coverage (UHC), constituted by the Planning Commission. ##Answer:UHC should not only be developmental priority but it should be moral responsibility of Government. India has a poor record of 1.2% of GDP spending in health sector and out of pocket expenditure on health remains very high at 71 % of all spending. Apart from improving people's health, adopting UHC is likely to generate millions of new jobs, enhance productivity, and promote equity. Major recommendation : A health entitlement card should assure every citizen access to a national health package of essential primary, secondary and tertiary care, both inpatient and outpatient. Services included under UHC must be tax funded and cashless at delivery . User fees are to be abolished because they are inefficient, inadequate and iniquitous. Contributory social insurance is not appropriate for countries like India where a large segment of the workforce — close to 93 per cent — is in the unorganised sector and vast numbers are below or near the poverty line. Primary health care and District hospitals should be strengthened. There is a need for improvement in the size and quality of our health workforce. Regulatory systems need strengthening. Larger investments should be made in health promoting programmes in other sectors such as water, sanitation, nutrition, environment, urban design and livelihood generation. Willing private providers need to fill gaps by providing cashless service and that would be compensated by pre-determined cost per package. This way it will act as extension to public service and Private providers wont compete for providing same services. (244 words)
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Write about objectives and functions of Afro-Asian Rural Development Organization.
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AARDO is to strengthen cooperation between Asia and Africa in the field of rural development. AARDO in its New Delhi Declaration of 2007 undertook to achieve the internationally agreed Millennium Development Goals (MDGs) ? It helps in initiating new programmes such as ? new training courses, ? development pilot projects, ? regional level workshops/seminars and study visits, helping the member countries in obtaining financial and technical assistance for rural development programmes from institutions like World Bank etc (74 words)
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##Question:Write about objectives and functions of Afro-Asian Rural Development Organization. ##Answer: AARDO is to strengthen cooperation between Asia and Africa in the field of rural development. AARDO in its New Delhi Declaration of 2007 undertook to achieve the internationally agreed Millennium Development Goals (MDGs) ? It helps in initiating new programmes such as ? new training courses, ? development pilot projects, ? regional level workshops/seminars and study visits, helping the member countries in obtaining financial and technical assistance for rural development programmes from institutions like World Bank etc (74 words)
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Write a short note on “Washington Accord” and why it has been in news in India ?
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The Washington Accordis an international accreditation agreementfor professional engineering academic degrees,between the bodies responsible for accreditation in its signatory countries.The agreement recognizes that there is substantial equivalency of programs accredited by those signatories. In India NBA(National Board of Accreditation), under the aegis ofAICTE(All India Council for Technical Education), is planning to bid to become a permanent member of the Washington Accord. (67 words)
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##Question:Write a short note on “Washington Accord” and why it has been in news in India ?##Answer:The Washington Accordis an international accreditation agreementfor professional engineering academic degrees,between the bodies responsible for accreditation in its signatory countries.The agreement recognizes that there is substantial equivalency of programs accredited by those signatories. In India NBA(National Board of Accreditation), under the aegis ofAICTE(All India Council for Technical Education), is planning to bid to become a permanent member of the Washington Accord. (67 words)
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Objectives of “National Monsoon Mission”
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(i) To build a working partnership between the academic and R&D organisations both national and international and the operational agencies to improve the operational monsoon forecast skill over the country. (ii) To set up a state of the art dynamic modelling framework for improving the prediction skill of: a. Seasonal and extended range prediction system (16 days to one season) b. Short to medium range prediction system (up to 15 days). (72 words)
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##Question:Objectives of “National Monsoon Mission”##Answer:(i) To build a working partnership between the academic and R&D organisations both national and international and the operational agencies to improve the operational monsoon forecast skill over the country. (ii) To set up a state of the art dynamic modelling framework for improving the prediction skill of: a. Seasonal and extended range prediction system (16 days to one season) b. Short to medium range prediction system (up to 15 days). (72 words)
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Blue-Fi
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A combination of Bluetooth and Wi-Fi that will provide passengers at railway station with a wealth of information, recently launched at Banglore. (23 words)
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##Question:Blue-Fi##Answer:A combination of Bluetooth and Wi-Fi that will provide passengers at railway station with a wealth of information, recently launched at Banglore. (23 words)
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Land Port
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An area on the international borders of India notified as land customs station with facilities for clearance and transport of passengers and goods across the borders of India eg ICP Attari (31 words)
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##Question:Land Port##Answer:An area on the international borders of India notified as land customs station with facilities for clearance and transport of passengers and goods across the borders of India eg ICP Attari (31 words)
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RuPay
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RuPay is the Indian domestic card payment network mainly to reduce overall transaction cost for the banks in India. (19 words)
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##Question:RuPay##Answer:RuPay is the Indian domestic card payment network mainly to reduce overall transaction cost for the banks in India. (19 words)
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To commemorate the 150th Birth Anniversary of Gurudev Rabindranath Tagore, the Government of India has started celebrations to pay homage to the great poet-philosopher. Discuss the Projects and Schemes announced as part of this commemoration.
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Schemes and Projects announced were as follows: Tagore National Fellowship for Cultural Research: With a view to infuse fresh knowledge capital into the institutions, the scheme expects selected scholars/academicians to select specific resources of certain selected institutions to take up projects and research work that are related to the main objectives of these institutions and to enrich them with a new creative edge and academic excellence. The Scheme will be open to both Indian nationals and foreign citizens. Tagore Cultural Complexes Scheme: Under the new Tagore Cultural Complexes Scheme, the existing Rabindra ‘Bhawans’, ‘Manchas’, ‘Sadans’, ‘Rangshalas’ and other cultural centres will be upgraded and modernised into state-of-the-art cultural complexes. These structures were created as part of a nation-wide programme launched on the occasion of Centenary Celebrations of Rabindranath Tagore in 1961. Besides restoring these structures, new cultural complexes will be created in the State Capitals and other cities where no such complexes exist. Tagore Commemoration Grant Scheme providing for grants to not-for-profit organisations for organising cultural programs. Rabindra Rachnavali Project: A chronological anthology of Rabindranath Tagore’s works will be published. After completion the project will be known asKalanukramik Rabindra Rachnavali. The anthology will be able to capture how Tagore worked on a day to day basis during his creative period and help us to connect with his artistic and other activities such as painting, dramatic performances, music, education and nation building. Centre for Tagore Studies at Indian Institute of Advanced Study, Shimla has been set up. Resotoration of Heritage Buildings at Viswa Bharti and ancestral home of Tagore at Jorasanko Indo-Bangladesh Joint Commemorations: Workshops with eminent dancers, choreographers, eminent artists and eminent theatre personalities. Other Overseas Commemorations: Exhibitions of Tagore's paintings etc.
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##Question:To commemorate the 150th Birth Anniversary of Gurudev Rabindranath Tagore, the Government of India has started celebrations to pay homage to the great poet-philosopher. Discuss the Projects and Schemes announced as part of this commemoration.##Answer:Schemes and Projects announced were as follows: Tagore National Fellowship for Cultural Research: With a view to infuse fresh knowledge capital into the institutions, the scheme expects selected scholars/academicians to select specific resources of certain selected institutions to take up projects and research work that are related to the main objectives of these institutions and to enrich them with a new creative edge and academic excellence. The Scheme will be open to both Indian nationals and foreign citizens. Tagore Cultural Complexes Scheme: Under the new Tagore Cultural Complexes Scheme, the existing Rabindra ‘Bhawans’, ‘Manchas’, ‘Sadans’, ‘Rangshalas’ and other cultural centres will be upgraded and modernised into state-of-the-art cultural complexes. These structures were created as part of a nation-wide programme launched on the occasion of Centenary Celebrations of Rabindranath Tagore in 1961. Besides restoring these structures, new cultural complexes will be created in the State Capitals and other cities where no such complexes exist. Tagore Commemoration Grant Scheme providing for grants to not-for-profit organisations for organising cultural programs. Rabindra Rachnavali Project: A chronological anthology of Rabindranath Tagore’s works will be published. After completion the project will be known asKalanukramik Rabindra Rachnavali. The anthology will be able to capture how Tagore worked on a day to day basis during his creative period and help us to connect with his artistic and other activities such as painting, dramatic performances, music, education and nation building. Centre for Tagore Studies at Indian Institute of Advanced Study, Shimla has been set up. Resotoration of Heritage Buildings at Viswa Bharti and ancestral home of Tagore at Jorasanko Indo-Bangladesh Joint Commemorations: Workshops with eminent dancers, choreographers, eminent artists and eminent theatre personalities. Other Overseas Commemorations: Exhibitions of Tagore's paintings etc.
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“The Indian Literature Abroad (ILA) project seeks to open windows to the polyphonic voices coming out of India.” Elaborate.
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While Indian literature in English is widely read and appreciated, the vibrant writing in the various Indian languages is not currently accessible to the rest of the world due to a lack of quality translations and focused promotion. ILA aims to correct this imbalance by projecting and promoting the plural Indian literatures internationally. The ILA project has been initiated by the Ministry of Culture, Government of India, to support and facilitate translation and promotion of literary heritage and contemporary literature from the Indian languages into major foreign languages (especially those recognized by UNESCO). ILA has a distinguished Advisory Committee, with the Dr U.R. Ananthamurthy as the chairman, and including well-known names from the fields of literature, publishing and translation. Namita Gokhale, writer, publisher and co-director of the Jaipur Literature Festival, is member-secretary of the project.
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##Question:“The Indian Literature Abroad (ILA) project seeks to open windows to the polyphonic voices coming out of India.” Elaborate. ##Answer:While Indian literature in English is widely read and appreciated, the vibrant writing in the various Indian languages is not currently accessible to the rest of the world due to a lack of quality translations and focused promotion. ILA aims to correct this imbalance by projecting and promoting the plural Indian literatures internationally. The ILA project has been initiated by the Ministry of Culture, Government of India, to support and facilitate translation and promotion of literary heritage and contemporary literature from the Indian languages into major foreign languages (especially those recognized by UNESCO). ILA has a distinguished Advisory Committee, with the Dr U.R. Ananthamurthy as the chairman, and including well-known names from the fields of literature, publishing and translation. Namita Gokhale, writer, publisher and co-director of the Jaipur Literature Festival, is member-secretary of the project.
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What are the functions of the Children's Film Society India (CFSI)?
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Functions can be classified under three areas: (a) Production: features, shorts, animations in many diverse languages. Many of these films have won prestigious national and international awards. Projects submissions are accepted and projects are awarded to independent film makers based on the merit of their script as well as their skill for direction. (b) Exhibition: CFSI's core objective is to make good films available to children in every corner of India, who otherwise may not have access to them. In order to reach the urban poor, rural and tribal children, screenings are organised in remote parts of the country. (c) Distribution & Sales: CFSI seeks to promote children's films through revenue generating sale of rights to both Indian and foreign buyers. These include: Theatrical, Non-theatrical, Television, Satellite, Video, Cable, Internet and other distribution rights.
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##Question:What are the functions of the Children's Film Society India (CFSI)? ##Answer:Functions can be classified under three areas: (a) Production: features, shorts, animations in many diverse languages. Many of these films have won prestigious national and international awards. Projects submissions are accepted and projects are awarded to independent film makers based on the merit of their script as well as their skill for direction. (b) Exhibition: CFSI's core objective is to make good films available to children in every corner of India, who otherwise may not have access to them. In order to reach the urban poor, rural and tribal children, screenings are organised in remote parts of the country. (c) Distribution & Sales: CFSI seeks to promote children's films through revenue generating sale of rights to both Indian and foreign buyers. These include: Theatrical, Non-theatrical, Television, Satellite, Video, Cable, Internet and other distribution rights.
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Enumerate and discuss briefly the Sadanga of Indian painting.
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Around 1st century BC the Sadanga or Six Limbs of Indian Painting, were evolved, a series of canons laying down the main principles of the art. Vatsyayana, who lived during the third century A.D., enumerates these in his Kamasutra having extracted them from still more ancient works. These 'Six Limbs' are as follows: Rupabheda: The knowledge of appearances. Pramanam: Correct perception, measure and structure. Bhava: Action of feelings on forms. Lavanya Yojanam: Infusion of grace, artistic representation. Sadrisyam: Similitude. Varnikabhanga: Artistic manner of using the brush and colours. The subsequent development of painting indicates that these ' Six Limbs ' were put into practice by Indian artists, and are the basic principles on which their art was founded.
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##Question:Enumerate and discuss briefly the Sadanga of Indian painting. ##Answer:Around 1st century BC the Sadanga or Six Limbs of Indian Painting, were evolved, a series of canons laying down the main principles of the art. Vatsyayana, who lived during the third century A.D., enumerates these in his Kamasutra having extracted them from still more ancient works. These 'Six Limbs' are as follows: Rupabheda: The knowledge of appearances. Pramanam: Correct perception, measure and structure. Bhava: Action of feelings on forms. Lavanya Yojanam: Infusion of grace, artistic representation. Sadrisyam: Similitude. Varnikabhanga: Artistic manner of using the brush and colours. The subsequent development of painting indicates that these ' Six Limbs ' were put into practice by Indian artists, and are the basic principles on which their art was founded.
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The major vocal forms of Hindustani Classical Music are Dhrupad, Khyal and Tarana. Elaborate.
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Dhrupad: said to be the oldest still in use in that musical tradition performed by a solo singer or a small number of singers in unison to the beat of the pakhavaj/mridang The text is preceded by a wholly improvised section, the alap. There are said to be four broad stylistic variants (vanis or banis) of classical dhrupad – the Gauri (Gohar), Khandar, Nauhar, and Dagar, tentatively linked to five singing styles (geetis) known from the 7th Century: Shuddha, Bhinna, Gauri, Vegswara, and Sadharani. The best-known gharana is the Dagar family, Khyal: Khyal bases itself on a repertoire of short songs (two to eight lines); a khyal song is called a bandish. Every singer generally renders the same bandish differently, with only the text and the raga remaining the same. Khyal bandishes are typically composed in a variant ofUrdu/Hindi, and sometimes in Persian, Marathi or Punjabi, and these compositions cover diverse topics, such as romantic or divine love, praise of kings or gods, the seasons, dawn and dusk, and the pranks of Krishna, and they can have symbolism and imagery. Tararna: The structure consists of a main melody, usually short, repeated many times, with variation and elaboration at the performer's discretion. There is a second contrasting melody, usually with higher notes, which is introduced once, and goes back to the main melody Said to be an invention of Amir Khusro
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##Question:The major vocal forms of Hindustani Classical Music are Dhrupad, Khyal and Tarana. Elaborate.##Answer:Dhrupad: said to be the oldest still in use in that musical tradition performed by a solo singer or a small number of singers in unison to the beat of the pakhavaj/mridang The text is preceded by a wholly improvised section, the alap. There are said to be four broad stylistic variants (vanis or banis) of classical dhrupad – the Gauri (Gohar), Khandar, Nauhar, and Dagar, tentatively linked to five singing styles (geetis) known from the 7th Century: Shuddha, Bhinna, Gauri, Vegswara, and Sadharani. The best-known gharana is the Dagar family, Khyal: Khyal bases itself on a repertoire of short songs (two to eight lines); a khyal song is called a bandish. Every singer generally renders the same bandish differently, with only the text and the raga remaining the same. Khyal bandishes are typically composed in a variant ofUrdu/Hindi, and sometimes in Persian, Marathi or Punjabi, and these compositions cover diverse topics, such as romantic or divine love, praise of kings or gods, the seasons, dawn and dusk, and the pranks of Krishna, and they can have symbolism and imagery. Tararna: The structure consists of a main melody, usually short, repeated many times, with variation and elaboration at the performer's discretion. There is a second contrasting melody, usually with higher notes, which is introduced once, and goes back to the main melody Said to be an invention of Amir Khusro
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Inter-State Cultural Exchange Programme
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Following points must be mentioned Funded and administered by the Sangeet Natak Akademi in cooperation with State Governments/ Union Territories. Directed towards promoting mutual appreciation and understanding of diverse heritage of performing arts, making performing arts programs accessible to large cross-section of society and creating larger performing opportunities for individual artists as well as groups of artists.
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##Question:Inter-State Cultural Exchange Programme##Answer:Following points must be mentioned Funded and administered by the Sangeet Natak Akademi in cooperation with State Governments/ Union Territories. Directed towards promoting mutual appreciation and understanding of diverse heritage of performing arts, making performing arts programs accessible to large cross-section of society and creating larger performing opportunities for individual artists as well as groups of artists.
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Sattriya Kendra
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Sattriya dance form was created by the Assamese Vaishnav saint Srimanta Sankardeva, in 15th century Assam. This kendra is situated in Guwahati and serves as a focal center for training, production, performance, research, documentation and publication support to the entire field of Sattriya dance, Music and Theatre. It also undertakes organizing Annual Festival of Sattriya Dance, sponsoring of Sattriya performances outside the state of Assam and maintaining over -all standard of training and performance in the field.
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##Question:Sattriya Kendra ##Answer:Sattriya dance form was created by the Assamese Vaishnav saint Srimanta Sankardeva, in 15th century Assam. This kendra is situated in Guwahati and serves as a focal center for training, production, performance, research, documentation and publication support to the entire field of Sattriya dance, Music and Theatre. It also undertakes organizing Annual Festival of Sattriya Dance, sponsoring of Sattriya performances outside the state of Assam and maintaining over -all standard of training and performance in the field.
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Puppet forms of India
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(1) String Puppets: Kath-putli (Rajasthan), Kundhei (Odhisha), Gombeytta (Karnataka), Bommalattam (Tamilnadu); (2) Shadow Puppets: Togalu Gombeytta (Karnataka), Tholu Bommalattam (Tamilnadu), Ravanachhaya (Odisha) etc. (3) Glove Puppets: Pavakoothu (Kerala) (4) Rod Puppets: Putul Nautch (West Bengal), Yampuri (Bihar) etc.
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##Question:Puppet forms of India ##Answer:(1) String Puppets: Kath-putli (Rajasthan), Kundhei (Odhisha), Gombeytta (Karnataka), Bommalattam (Tamilnadu); (2) Shadow Puppets: Togalu Gombeytta (Karnataka), Tholu Bommalattam (Tamilnadu), Ravanachhaya (Odisha) etc. (3) Glove Puppets: Pavakoothu (Kerala) (4) Rod Puppets: Putul Nautch (West Bengal), Yampuri (Bihar) etc.
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Categories of Musical Instruments of India
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In the Natya Shastra, compiled by Bharat Muni dated 200 B.C.-200 A.D., musical instruments have been divided into four main categories on the basis of how sound is produced. (i) The Tata Vadya or Chordophones- Stringed instruments (ii) The Sushira Vadya or Aerophones- Wind instruments (iii) The Avanaddha Vadya or Membranophones- Percussion instruments (iv) The Ghana Vadya or Idiophones- Solid instruments which do not require tuning.
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##Question:Categories of Musical Instruments of India ##Answer:In the Natya Shastra, compiled by Bharat Muni dated 200 B.C.-200 A.D., musical instruments have been divided into four main categories on the basis of how sound is produced. (i) The Tata Vadya or Chordophones- Stringed instruments (ii) The Sushira Vadya or Aerophones- Wind instruments (iii) The Avanaddha Vadya or Membranophones- Percussion instruments (iv) The Ghana Vadya or Idiophones- Solid instruments which do not require tuning.
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Functions of the Centre for Cultural Resources and Training (CCRT)
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The main function of the Centre for Cultural Resources and Training (CCRT) is to conduct a variety of trainingprogrammes for in-service teachers drawn from all parts of the country. It also organizes various educational activities for school students, teachers and children belonging to governmental and non-governmental organisations under its Community and Extension Feedback Programmes. It also organizes academic programmes on Indian art and culture for foreign teachers and students.
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##Question:Functions of the Centre for Cultural Resources and Training (CCRT) ##Answer:The main function of the Centre for Cultural Resources and Training (CCRT) is to conduct a variety of trainingprogrammes for in-service teachers drawn from all parts of the country. It also organizes various educational activities for school students, teachers and children belonging to governmental and non-governmental organisations under its Community and Extension Feedback Programmes. It also organizes academic programmes on Indian art and culture for foreign teachers and students.
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Totaram Sharma
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Totaram Sharma is a Pakhawaj exponent. He won the Sangeet Natak Akademi award for 2011.
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##Question:Totaram Sharma ##Answer:Totaram Sharma is a Pakhawaj exponent. He won the Sangeet Natak Akademi award for 2011.
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Surbahar
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Surbahar is a plucked string instrument used in the Hindustani classical music. It is closely related to Sitar, but has a lower tone. (Note: Pushpraj Koshti, a Surbahar exponent won the Sangeet Natak Akademi Award for 2011).
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##Question:Surbahar##Answer:Surbahar is a plucked string instrument used in the Hindustani classical music. It is closely related to Sitar, but has a lower tone. (Note: Pushpraj Koshti, a Surbahar exponent won the Sangeet Natak Akademi Award for 2011).
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Seshampatti Sivalingam
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S. Sivalingam is a Nadaswaram exponent. He won the Sangeet Natak Akademi award for 2011
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##Question:Seshampatti Sivalingam ##Answer:S. Sivalingam is a Nadaswaram exponent. He won the Sangeet Natak Akademi award for 2011
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Vikram Gokhale
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Vikram Gokhale is a well-known film, television and stage actor. He won the Sangeet Natak Akademi Award for 2011 in the field of Theatre (acting).
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##Question:Vikram Gokhale ##Answer:Vikram Gokhale is a well-known film, television and stage actor. He won the Sangeet Natak Akademi Award for 2011 in the field of Theatre (acting).
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Gopal Chandra Panda
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Panda is an Odissi exponent. He won the Sangeet Natak Akademi award for 2011.
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##Question:Gopal Chandra Panda ##Answer:Panda is an Odissi exponent. He won the Sangeet Natak Akademi award for 2011.
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The Meerut Conspiracy Trial
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The Meerut conspiracy trial was held in India from 1929 and lasted for nearly three years. More than 30 trade union, socialist and communist activists were tried, three of them Britons, they had been arrested following a wave of strikes in India and charged under the Indian penal code.
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##Question:The Meerut Conspiracy Trial##Answer:The Meerut conspiracy trial was held in India from 1929 and lasted for nearly three years. More than 30 trade union, socialist and communist activists were tried, three of them Britons, they had been arrested following a wave of strikes in India and charged under the Indian penal code.
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"Equity in PSUs essentially belongs to the people. In the absence of wider national consensus, a mere government decision to disinvest is not enough to carry out the sale of people's assets" Discuss
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Disinvestment is a procedure whereby some parts of public sector enterprises (PSEs) are sold to private organizations or individuals. Indian govt has followed the policy of partial disinvestment whereby the government still retains effective control by holding 51 per cent or more of equity. ·The fixation of share/bond price is done by the Disinvestment Commission and its the government and not the PSUs who receive money from disinvestment. ·PSUs, other than the objective of contribution to economic growth, have also had larger interests such as social justice as their objective, which is reflected by the fact that PSUs are also a major employer of the backward section of the Indian society. The objectives of the disinvestment programme vary from improving efficiency of the Public Sector Enterprises to transformation of the society like the money raised from disinvestment is being used to fund the social sector schemes. ·However, Disinvestment, though used as aoption to reduce fiscal deficits, is not without its social costs . There are some sectors like primary education, defense etc where private sector involvement will not meet the basic objective or may harm national interests. Also disinvestment has led to loss of jobs for many people. So there is need to have more consensus on these critical issues. ·There is another major criticism related to the transparency of Disinvestment process. Inadequate information about PSUs has impeded free, competitive and efficient bidding of shares, and a free trading of those shares. ·Since the PSUs do not benefit monetarily from disinvestment, they have been reluctant to prepare and distribute prospectuses. This has in turn prevented the disinvestment process from being completely open and transparent. ·To the extent the sale of government equity in PSUs is to the Indian private sector, there is no decline in national wealth. But the sale of such equity to foreign companies has far more serious implications relating to national wealth, control and power, particularly if the equity is sold below the correctprice. ·There is no clear cut framework or policy for disinvestment in India. Timing of disinvestment is not very correct in many cases, the number of bidders for equity has been small not only in the case of financially weak PSUs, but also in that of better-performing PSUs. And as a result the money raised through the disinvestment is far less than the targets. ·And most of the money raised from the disinvestment is used to mitigate the gap of fiscal deficit instead of using it for social sector development or creating infrastructure. ·If the disinvestment policy is to be in wider public interests, it is necessary to examine systematically, issues such as –an appropriate policy framework, the correct valuation of shares, the appropriate use of disinvestment proceeds and the institutional and other prerequisites.
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##Question:"Equity in PSUs essentially belongs to the people. In the absence of wider national consensus, a mere government decision to disinvest is not enough to carry out the sale of people's assets" Discuss##Answer: Disinvestment is a procedure whereby some parts of public sector enterprises (PSEs) are sold to private organizations or individuals. Indian govt has followed the policy of partial disinvestment whereby the government still retains effective control by holding 51 per cent or more of equity. ·The fixation of share/bond price is done by the Disinvestment Commission and its the government and not the PSUs who receive money from disinvestment. ·PSUs, other than the objective of contribution to economic growth, have also had larger interests such as social justice as their objective, which is reflected by the fact that PSUs are also a major employer of the backward section of the Indian society. The objectives of the disinvestment programme vary from improving efficiency of the Public Sector Enterprises to transformation of the society like the money raised from disinvestment is being used to fund the social sector schemes. ·However, Disinvestment, though used as aoption to reduce fiscal deficits, is not without its social costs . There are some sectors like primary education, defense etc where private sector involvement will not meet the basic objective or may harm national interests. Also disinvestment has led to loss of jobs for many people. So there is need to have more consensus on these critical issues. ·There is another major criticism related to the transparency of Disinvestment process. Inadequate information about PSUs has impeded free, competitive and efficient bidding of shares, and a free trading of those shares. ·Since the PSUs do not benefit monetarily from disinvestment, they have been reluctant to prepare and distribute prospectuses. This has in turn prevented the disinvestment process from being completely open and transparent. ·To the extent the sale of government equity in PSUs is to the Indian private sector, there is no decline in national wealth. But the sale of such equity to foreign companies has far more serious implications relating to national wealth, control and power, particularly if the equity is sold below the correctprice. ·There is no clear cut framework or policy for disinvestment in India. Timing of disinvestment is not very correct in many cases, the number of bidders for equity has been small not only in the case of financially weak PSUs, but also in that of better-performing PSUs. And as a result the money raised through the disinvestment is far less than the targets. ·And most of the money raised from the disinvestment is used to mitigate the gap of fiscal deficit instead of using it for social sector development or creating infrastructure. ·If the disinvestment policy is to be in wider public interests, it is necessary to examine systematically, issues such as –an appropriate policy framework, the correct valuation of shares, the appropriate use of disinvestment proceeds and the institutional and other prerequisites.
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Some economic thinkers argue that Indian economy has now become a squeaking mouse from lumbering elephant. Discuss the stand and throw light on Indian Economy's state and challenges lying ahead.
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·With 6.5 % growth in 2011-12 and 5.3 % in the last quarter of the fiscal, it is seen as the lumbering elephant has now become a squeaking mouse. Surely today Indian economy is facing many challenges. ·First, there is the inflation (around 9%) , mainly in three components - manufactured, agro and commodities. The main reason is increased public expenditure, which has pumped in liquidity and increased demand. Though it is a desirable objective, but provided that supply-side changes are triggered by reforms, especially agro-refroms and refroms in our manufacturing policies. They both will be very crucial for dealing with the problem of unemployment in the coming years. ·Second, is Indian economy is facing a twin deficit i.e. Fiscal Deficit(>5%) and Current Account Deficit (>4%). There is a need to curb oil subsidies and at the same time it is important to increase revenue – tax or non-tax. The refroms like Direct Tax Code (DTC) and Goods and Services Tax (GST) needs to be completed. ·Third, there is a need for push in the infrastructure sector. There is need for reforms in land acquisition process, environment clearances process and financing process for the infrastructure projects. We need more investment in sectors like electricity, roads, ports and railways etc to reduce the supply side constraints. There is also need to have labour reforms to increase productivity in our industries. ·Fourth, the world economy is already going through the bad phase. There is need for making investment friendly sentiments towards India by speeding up FDI related reforms in sector like retail, pension, aviation etc and clearing the air of many tax issues like GAAR, retrospective tax rule etc. ·Fifth, there is a need to reform the decision-making process by making it transparent and rule-based and by balancing the discretionary power of officials with their accountability. Corruption is seriously eroding the image of India as an investment friendly destination. ·Though it is definitely the difficult time for Indian economy but this is to some extent a result of global economic fall as well. We no longer can take 8-9% growth as granted as was the case in previous decade. We need to push further reforms in our economy especially focusing more on our domestic demand driven growth in agriculture and manufacturing sector along with sustaining the service sector growth.
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##Question:Some economic thinkers argue that Indian economy has now become a squeaking mouse from lumbering elephant. Discuss the stand and throw light on Indian Economy's state and challenges lying ahead.##Answer: ·With 6.5 % growth in 2011-12 and 5.3 % in the last quarter of the fiscal, it is seen as the lumbering elephant has now become a squeaking mouse. Surely today Indian economy is facing many challenges. ·First, there is the inflation (around 9%) , mainly in three components - manufactured, agro and commodities. The main reason is increased public expenditure, which has pumped in liquidity and increased demand. Though it is a desirable objective, but provided that supply-side changes are triggered by reforms, especially agro-refroms and refroms in our manufacturing policies. They both will be very crucial for dealing with the problem of unemployment in the coming years. ·Second, is Indian economy is facing a twin deficit i.e. Fiscal Deficit(>5%) and Current Account Deficit (>4%). There is a need to curb oil subsidies and at the same time it is important to increase revenue – tax or non-tax. The refroms like Direct Tax Code (DTC) and Goods and Services Tax (GST) needs to be completed. ·Third, there is a need for push in the infrastructure sector. There is need for reforms in land acquisition process, environment clearances process and financing process for the infrastructure projects. We need more investment in sectors like electricity, roads, ports and railways etc to reduce the supply side constraints. There is also need to have labour reforms to increase productivity in our industries. ·Fourth, the world economy is already going through the bad phase. There is need for making investment friendly sentiments towards India by speeding up FDI related reforms in sector like retail, pension, aviation etc and clearing the air of many tax issues like GAAR, retrospective tax rule etc. ·Fifth, there is a need to reform the decision-making process by making it transparent and rule-based and by balancing the discretionary power of officials with their accountability. Corruption is seriously eroding the image of India as an investment friendly destination. ·Though it is definitely the difficult time for Indian economy but this is to some extent a result of global economic fall as well. We no longer can take 8-9% growth as granted as was the case in previous decade. We need to push further reforms in our economy especially focusing more on our domestic demand driven growth in agriculture and manufacturing sector along with sustaining the service sector growth.
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"The welfare of a nation can scarcely be inferred from a measurement of national income". Discuss the limitations of GDP/GNP and suggest some alternatives to GDP/GNP?
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· Limitations · GDP/GNP may be an extremely useful economic indicator, but it ignores many factors important to the well-being of a society. ·The growth rate says nothing about the distribution of wealth in a country, the state of health of its citizens or their life expectancy, education level etc. ·There is also no mention in the statistic of voluntary work or of domestic work like cooking, cleaning, washing and ironing -- all things that are considered economically irrelevant. ·The number provides no information about the cleanliness of rivers or the amount of air pollution i.e. no environmental costs are included. ·When a nursing service attends to someone's sick mother, the cost of that service is included in GDP. But if a daughter takes care of her sick mother, her work is not reflected in the GDP calculation. And when a mother nurses her baby, it may be beneficial for the child, but it would of course be more "valuable" economically if the mother bought milk for the baby in the market. ·The growth rate even increases when things are destroyed -- that is, when natural disasters or wars plunge people into ruin -- because construction firms and pharmaceutical companies profit from such events. In other words, the misfortunes of some create wealth for others. ·They also don’t take into account the sustainability of the growth itself. · Alternatives ·The alternatives have been developed in the form of ‘Green GDP’, which takes into account the environmental and ecological cost of various activities as well. ·Another very important index is ‘Human Development Index’ by UNDP,which takes into account life expectancy, health factor, education level, gender disparities, income inequalities, poverty etc. ·Bhutan’s ‘Gross National Happiness’ Index is another such example, which takes into account the overall well being of its citizens. ·However all these alternative index have their own shortcomings as well like in terms of quantifying various parameters like cost of environment damage. Also there is lot of ambiguity about the indicators, which should be chosen to have a good representative index. ·Therefore despite having many alternatives still the classic growth index of GDP/GNP has been prevailing.
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##Question:"The welfare of a nation can scarcely be inferred from a measurement of national income". Discuss the limitations of GDP/GNP and suggest some alternatives to GDP/GNP?##Answer: · Limitations · GDP/GNP may be an extremely useful economic indicator, but it ignores many factors important to the well-being of a society. ·The growth rate says nothing about the distribution of wealth in a country, the state of health of its citizens or their life expectancy, education level etc. ·There is also no mention in the statistic of voluntary work or of domestic work like cooking, cleaning, washing and ironing -- all things that are considered economically irrelevant. ·The number provides no information about the cleanliness of rivers or the amount of air pollution i.e. no environmental costs are included. ·When a nursing service attends to someone's sick mother, the cost of that service is included in GDP. But if a daughter takes care of her sick mother, her work is not reflected in the GDP calculation. And when a mother nurses her baby, it may be beneficial for the child, but it would of course be more "valuable" economically if the mother bought milk for the baby in the market. ·The growth rate even increases when things are destroyed -- that is, when natural disasters or wars plunge people into ruin -- because construction firms and pharmaceutical companies profit from such events. In other words, the misfortunes of some create wealth for others. ·They also don’t take into account the sustainability of the growth itself. · Alternatives ·The alternatives have been developed in the form of ‘Green GDP’, which takes into account the environmental and ecological cost of various activities as well. ·Another very important index is ‘Human Development Index’ by UNDP,which takes into account life expectancy, health factor, education level, gender disparities, income inequalities, poverty etc. ·Bhutan’s ‘Gross National Happiness’ Index is another such example, which takes into account the overall well being of its citizens. ·However all these alternative index have their own shortcomings as well like in terms of quantifying various parameters like cost of environment damage. Also there is lot of ambiguity about the indicators, which should be chosen to have a good representative index. ·Therefore despite having many alternatives still the classic growth index of GDP/GNP has been prevailing.
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For the National Manufacturing Policy (NMP) to successfully meet its stated objectives, several policy measures need to be pursued. Comment.
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·The NMP aims at: (i) increasing manufacturing-sector growth to 12-14 per cent over the medium term; (ii) enabling manufacturing to contribute at least 25% of GDP; (iii) create 100 million additional jobs in the manufacturing sector by 2022; (iv) create appropriate skill-sets among the rural migrant and urban poor for their easy absorption in manufacturing; (v) increase domestic value addition and technological depth in manufacturing; and (vii) enhance global competitiveness of Indian manufacturing. NMP also provides for National Investment and Manufacturing Zones (NIMZ) on degraded an uncultivable lands. Challenges that need to be resolved are: (a) availability of land; (b) strengthening of backward (agriculture) and forwad linkages (banks etc.) of manufacturing sector; (c) need to shift to high-value addition industries; (d) meeting investment requirements – investment-savings gap and so FDI is considered necessary; (e) Ecological issues.
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##Question:For the National Manufacturing Policy (NMP) to successfully meet its stated objectives, several policy measures need to be pursued. Comment.##Answer: ·The NMP aims at: (i) increasing manufacturing-sector growth to 12-14 per cent over the medium term; (ii) enabling manufacturing to contribute at least 25% of GDP; (iii) create 100 million additional jobs in the manufacturing sector by 2022; (iv) create appropriate skill-sets among the rural migrant and urban poor for their easy absorption in manufacturing; (v) increase domestic value addition and technological depth in manufacturing; and (vii) enhance global competitiveness of Indian manufacturing. NMP also provides for National Investment and Manufacturing Zones (NIMZ) on degraded an uncultivable lands. Challenges that need to be resolved are: (a) availability of land; (b) strengthening of backward (agriculture) and forwad linkages (banks etc.) of manufacturing sector; (c) need to shift to high-value addition industries; (d) meeting investment requirements – investment-savings gap and so FDI is considered necessary; (e) Ecological issues.
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Comment on the usefulness of a law like GAAR in the current globalised world.What in you opinion are necessary steps that the Government must take to avoid the misuse of Tax laws in the country
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*GAAR aims to target tax evaders, partly by stopping Indian companies and investors from routing investments through Mauritius or other tax havens for the sole purpose of avoiding taxes. * However, the ambiguous language, the lack of details, and the sudden onset of the provisions have been among the factors that have upset foreign investors. * Finance Minister Pranab Mukherjee proposed to defer the rollout of GAAR by a year to the financial year that begins in April 2013 to "provide more time" to both taxpayers and the tax office "to address all related issues". * The finance minister proposed to remove the onus of proof entirely from the taxpayer and shift it to the revenue departments. * A local or foreign taxpayer will also be able to approach authorities in advance for a ruling on their potential tax liabilities. * An independent member would be in the GAAR approving panel, while one member would be an officer of the level of Joint Secretary, or above, from the Ministry of Law. * A committee would be constituted under the Chairmanship of the Director General of Income Tax, with the task of providing recommendations by May 31 for formulating the rules and guidelines to implement GAAR provisions. * On the proposed retrospective amendment in tax rules, Mukherjee said the changes will not override the provisions of double-tax avoidance treaties India has with 82 countries. * The retroactive changes will only impact those cases where a deal has been routed through low-tax and no-tax countries with whom India does not have tax treaties. * The finance minister also proposed to cut the withholding tax to 5 per cent from 20 per cent currently on funding through foreign loans for "all businesses." The budget in mid-March had proposed a lower withholding tax for some sectors. * According to the draft, GAAR will come into effect from April 1 2013. According to the guidelines, FII not opting for treaty benefits and ready to pay taxes will not come under GAAR, but those who do opt for dual taxation avoidance agreements will come under its purview. Recently the Expert Committee on General Anti Avoidance Rule (GAAR) has started meeting the stakeholders and consultants for discussion purposes to receive the feedback and comments to fine tune the draft guidelines, Dr Parthasarathi Shome is the chief of the Prime Minister-appointed panel on GAAR.
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##Question:Comment on the usefulness of a law like GAAR in the current globalised world.What in you opinion are necessary steps that the Government must take to avoid the misuse of Tax laws in the country##Answer:*GAAR aims to target tax evaders, partly by stopping Indian companies and investors from routing investments through Mauritius or other tax havens for the sole purpose of avoiding taxes. * However, the ambiguous language, the lack of details, and the sudden onset of the provisions have been among the factors that have upset foreign investors. * Finance Minister Pranab Mukherjee proposed to defer the rollout of GAAR by a year to the financial year that begins in April 2013 to "provide more time" to both taxpayers and the tax office "to address all related issues". * The finance minister proposed to remove the onus of proof entirely from the taxpayer and shift it to the revenue departments. * A local or foreign taxpayer will also be able to approach authorities in advance for a ruling on their potential tax liabilities. * An independent member would be in the GAAR approving panel, while one member would be an officer of the level of Joint Secretary, or above, from the Ministry of Law. * A committee would be constituted under the Chairmanship of the Director General of Income Tax, with the task of providing recommendations by May 31 for formulating the rules and guidelines to implement GAAR provisions. * On the proposed retrospective amendment in tax rules, Mukherjee said the changes will not override the provisions of double-tax avoidance treaties India has with 82 countries. * The retroactive changes will only impact those cases where a deal has been routed through low-tax and no-tax countries with whom India does not have tax treaties. * The finance minister also proposed to cut the withholding tax to 5 per cent from 20 per cent currently on funding through foreign loans for "all businesses." The budget in mid-March had proposed a lower withholding tax for some sectors. * According to the draft, GAAR will come into effect from April 1 2013. According to the guidelines, FII not opting for treaty benefits and ready to pay taxes will not come under GAAR, but those who do opt for dual taxation avoidance agreements will come under its purview. Recently the Expert Committee on General Anti Avoidance Rule (GAAR) has started meeting the stakeholders and consultants for discussion purposes to receive the feedback and comments to fine tune the draft guidelines, Dr Parthasarathi Shome is the chief of the Prime Minister-appointed panel on GAAR.
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The international monetary institutions are instruments for extension of western ideology which is reflected in their non democratic setup. comment. how far has the new economic order been successful in changing the above.?
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·The international monetary structure has remained largely static since the mid-20th century rather than evolving with the changing power realities and challenges. ·The international monetary institutions like IMF and World Bank, they are not adequately represented and most of the developing countries don’t have a say in day-to-day functioning of IMF. As a result, these institutions have adopted the western ideologies as their policy prescriptions. ·Mostly the heads of IMF and World Bank they are chosen from the developed countries like US and Europe only. There have been demands that the heads of such institutions should be from developing nations as well. ·IMF has not brought about a more frequent & periodic revision of ‘quotas’ of member nations and corresponding allocations of SDRs . The increase in SDR allocation has not been proportional to the expansion of world trade. ·The quota formula was of central importance since quotas are the main determinant of the voting power of members. There are demands to increase the weight of GDP parameters in the quota formula. ·World bank has been accused of interfering in the domestic political and economic matters of poor nations in the guise of the structuraladjustmentconditions in lieu of loans granted to them. ·It was decided after global financial crisis of 2008, that there would be enlargement of capital base of IMF and also larger allocation of SDRs depending upon growing needs of member nations. ·Changes indeed are already beginning to occur, but rather modestly. For example, the G-20, composed of both wealthy and emerging economies, has replaced the G-8 as the main forum for discussions concerning the global economy. ·The slow pace of quota and governance reforms in the International Monetary Fund and the reluctance to restructure the World Bank to create a more dynamic institution that breaks free from its donor-recipient straitjacket only highlight the need for a reformed international financial architecture. ·Meanwhile, the risks to global economic growth have grown due to several factors, including the large, capricious cross-border capital flows, the Eurozone crisis, and the excessive volatility in commodity prices, which calls for more urgent actions for reforms in these institutions.
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##Question:The international monetary institutions are instruments for extension of western ideology which is reflected in their non democratic setup. comment. how far has the new economic order been successful in changing the above.?##Answer: ·The international monetary structure has remained largely static since the mid-20th century rather than evolving with the changing power realities and challenges. ·The international monetary institutions like IMF and World Bank, they are not adequately represented and most of the developing countries don’t have a say in day-to-day functioning of IMF. As a result, these institutions have adopted the western ideologies as their policy prescriptions. ·Mostly the heads of IMF and World Bank they are chosen from the developed countries like US and Europe only. There have been demands that the heads of such institutions should be from developing nations as well. ·IMF has not brought about a more frequent & periodic revision of ‘quotas’ of member nations and corresponding allocations of SDRs . The increase in SDR allocation has not been proportional to the expansion of world trade. ·The quota formula was of central importance since quotas are the main determinant of the voting power of members. There are demands to increase the weight of GDP parameters in the quota formula. ·World bank has been accused of interfering in the domestic political and economic matters of poor nations in the guise of the structuraladjustmentconditions in lieu of loans granted to them. ·It was decided after global financial crisis of 2008, that there would be enlargement of capital base of IMF and also larger allocation of SDRs depending upon growing needs of member nations. ·Changes indeed are already beginning to occur, but rather modestly. For example, the G-20, composed of both wealthy and emerging economies, has replaced the G-8 as the main forum for discussions concerning the global economy. ·The slow pace of quota and governance reforms in the International Monetary Fund and the reluctance to restructure the World Bank to create a more dynamic institution that breaks free from its donor-recipient straitjacket only highlight the need for a reformed international financial architecture. ·Meanwhile, the risks to global economic growth have grown due to several factors, including the large, capricious cross-border capital flows, the Eurozone crisis, and the excessive volatility in commodity prices, which calls for more urgent actions for reforms in these institutions.
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Examine the trends that India's International Trade (in goods) has witnessed in the areas of Trade Composition and Direction of Trade over the past decade.
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Trade Composition consists of (a) Export Composition: (Descending order) Engineering Goods, Petroleum, Crude and Products, Gems & Jewellery, Chemicals and Textiles – share of manufactures and primary prodcuts have fallen down whereas the share of Engineering Goods and Petroleum has been steadily increasing; (b) Import Composition: (Descending order) Fuel, Gold & Silver, Pearls (including Precious & Semi-Precious Stones), Electronic Goods – no major compositional change has been noticed except for gradual change in the share of gold & silver imports; (b) Direction of Trade: Top 15 countries account for share of 60%. Share of Asia & ASEAN has increaqsed from about 30% to about 60% and share of Europe & America has dropped from about 40% to about 30%. Indonesia, Korea, Iran and Nigeria have entered the list of top 15 countries replacing Italy, Malaysia, France and Australia. India's trade deficit as a percentage of GDP has been about 6% and it is one of the highest. Out of India's top 15 trade partners it enjoys a favourable export-import ratio with only 5 countries viz. Singapore, UK, USA, Hong Kong and UAE.
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##Question:Examine the trends that India's International Trade (in goods) has witnessed in the areas of Trade Composition and Direction of Trade over the past decade. ##Answer:Trade Composition consists of (a) Export Composition: (Descending order) Engineering Goods, Petroleum, Crude and Products, Gems & Jewellery, Chemicals and Textiles – share of manufactures and primary prodcuts have fallen down whereas the share of Engineering Goods and Petroleum has been steadily increasing; (b) Import Composition: (Descending order) Fuel, Gold & Silver, Pearls (including Precious & Semi-Precious Stones), Electronic Goods – no major compositional change has been noticed except for gradual change in the share of gold & silver imports; (b) Direction of Trade: Top 15 countries account for share of 60%. Share of Asia & ASEAN has increaqsed from about 30% to about 60% and share of Europe & America has dropped from about 40% to about 30%. Indonesia, Korea, Iran and Nigeria have entered the list of top 15 countries replacing Italy, Malaysia, France and Australia. India's trade deficit as a percentage of GDP has been about 6% and it is one of the highest. Out of India's top 15 trade partners it enjoys a favourable export-import ratio with only 5 countries viz. Singapore, UK, USA, Hong Kong and UAE.
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Second generation economic reforms are the only solution to save Indian growth story...comment
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Give an overview of economic growth over the last few years - 2008-2009 and 2011-2012 have witnessed slower growth. Growth in 2011-2012 has been the lowest in nine years (not considering 2008-2009). Reasons for slow economic growth - Global factors: crisis in Eurozone, slow growth in many other countries such as USA, stagnation in Japan, prices of International Crude Oil; Local Factors: Tightening of Monetary Policy etc. Second-Generation Economic Reforms - some debate regarding exact definition. First used in budgetary process by Yashwant Sinha. Aspects of 2nd Gen Reforms: Increasing the pace of LPG Strengthen the foundations of Rural Economy including Agriculture. Sustain the potential of knowledge-based industries - IT, BT etc by addressing issues Overcoming Infrastructural Bottlnecks Priority to HRD including health, education and other social sectors with special emphasis on poorest and weakest sections of society. Strengthen Foreign Trade - search for new markets Encourage Foreign Investment Fiscal Discipline These aspects will: (1) maintain sound fundamentals of economy (fiscal deficit etc under control); (2) reduce the cost of doing business in India and thus help in making domestic industry more competitive in the world market; (3) meet the social imperative of economic growth that benefits all; (4) Boost demand; etc. Thus, second generation reforms will propel the country towards higher economic growth. While the first generation reforms were crisis-driven, considering India is still better-off when compared to other countries (in terms of growth) there is scope to modulate reforms to the overall benefit of the country.
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##Question:Second generation economic reforms are the only solution to save Indian growth story...comment##Answer: Give an overview of economic growth over the last few years - 2008-2009 and 2011-2012 have witnessed slower growth. Growth in 2011-2012 has been the lowest in nine years (not considering 2008-2009). Reasons for slow economic growth - Global factors: crisis in Eurozone, slow growth in many other countries such as USA, stagnation in Japan, prices of International Crude Oil; Local Factors: Tightening of Monetary Policy etc. Second-Generation Economic Reforms - some debate regarding exact definition. First used in budgetary process by Yashwant Sinha. Aspects of 2nd Gen Reforms: Increasing the pace of LPG Strengthen the foundations of Rural Economy including Agriculture. Sustain the potential of knowledge-based industries - IT, BT etc by addressing issues Overcoming Infrastructural Bottlnecks Priority to HRD including health, education and other social sectors with special emphasis on poorest and weakest sections of society. Strengthen Foreign Trade - search for new markets Encourage Foreign Investment Fiscal Discipline These aspects will: (1) maintain sound fundamentals of economy (fiscal deficit etc under control); (2) reduce the cost of doing business in India and thus help in making domestic industry more competitive in the world market; (3) meet the social imperative of economic growth that benefits all; (4) Boost demand; etc. Thus, second generation reforms will propel the country towards higher economic growth. While the first generation reforms were crisis-driven, considering India is still better-off when compared to other countries (in terms of growth) there is scope to modulate reforms to the overall benefit of the country.
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what in your opinion should be the priority- maintaining growth or checking inflation? Why monetary policy isn't able to check inflation ?
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Managing growth and price stability are the two major challenges of macroeconomic policymaking. Both these objectives may be conflicting - growth needs availability of capital on easier terms and more liquidity; however this is likely to fuel excess demand which may result in fuelling price-rise. 2011-2012 began with inflation close to double-digits - this entailed higher prices of food and other commodities. RBI tightened the Monetary Policy in response to this. It is (now) clear that this did have some slowing-down effect on growth but did not lead to long-term rise in unemployment. Once the inflation was under control the focus shifted to increasing growth. This experience shows that the approach/choice should depend on the levels of inflation. A blanket prioritisation of one over the other is likely to have adverse consequences. Monetary Policy targets the rate of interest and tries to effect money supply. But controlling inflation requires fiscal policy action and also better supply chain management - mention the example of inflation in food items. Thus, Monetary Policy is a necessary but not sufficient tool for controlling inflation.
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##Question:what in your opinion should be the priority- maintaining growth or checking inflation? Why monetary policy isn't able to check inflation ?##Answer: Managing growth and price stability are the two major challenges of macroeconomic policymaking. Both these objectives may be conflicting - growth needs availability of capital on easier terms and more liquidity; however this is likely to fuel excess demand which may result in fuelling price-rise. 2011-2012 began with inflation close to double-digits - this entailed higher prices of food and other commodities. RBI tightened the Monetary Policy in response to this. It is (now) clear that this did have some slowing-down effect on growth but did not lead to long-term rise in unemployment. Once the inflation was under control the focus shifted to increasing growth. This experience shows that the approach/choice should depend on the levels of inflation. A blanket prioritisation of one over the other is likely to have adverse consequences. Monetary Policy targets the rate of interest and tries to effect money supply. But controlling inflation requires fiscal policy action and also better supply chain management - mention the example of inflation in food items. Thus, Monetary Policy is a necessary but not sufficient tool for controlling inflation.
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Analyze impact of India and other countries as well signing multiple FTAs on WTO.
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Afree-trade area(FTA) is atrade blocwhose member countries have signed afree-trade agreement(FTA), which eliminatestariffs,import quotas, and preferences on most (if not all)goodsand services traded between them. A FTA may be bilateral or multi-lateral. It is estimated that an average WTO member is party to more than 5 such FTAs. WTO operates on the assumption that Multi-lateralism in World Trade issues is desirable. Discuss in brief the current deadlock with respect to the Doha Round of negotiations. This deadlock has created an incentive for signing of more such FTAs. However, WTO has not been isolated due to this development. It has an active Negotiating Group on Rules on the issue of transparency in FTAs. The General Council of WTO as early as 2006 had agreed on a provisional transparency mechanism for FTAs. As per this mechanism:members participating in new negotiations aimed at the conclusion of an FTA should inform the WTO Secretariat of such negotiations; and the notification of an FTA by Members should take place as early as possible, in general no later than the parties' ratification of the FTA. Thus the WTO continues to be relevant inasmuch as it is involved in process of enhancing transparency of FTAs. The role of WTO in resolving trade disputes has increased pursuant to such FTAs. However, with FTAs becoming an important feature of International Trade, it has been argued by scholars that the Doha Round is likely to lose its urgency.
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##Question:Analyze impact of India and other countries as well signing multiple FTAs on WTO.##Answer: Afree-trade area(FTA) is atrade blocwhose member countries have signed afree-trade agreement(FTA), which eliminatestariffs,import quotas, and preferences on most (if not all)goodsand services traded between them. A FTA may be bilateral or multi-lateral. It is estimated that an average WTO member is party to more than 5 such FTAs. WTO operates on the assumption that Multi-lateralism in World Trade issues is desirable. Discuss in brief the current deadlock with respect to the Doha Round of negotiations. This deadlock has created an incentive for signing of more such FTAs. However, WTO has not been isolated due to this development. It has an active Negotiating Group on Rules on the issue of transparency in FTAs. The General Council of WTO as early as 2006 had agreed on a provisional transparency mechanism for FTAs. As per this mechanism:members participating in new negotiations aimed at the conclusion of an FTA should inform the WTO Secretariat of such negotiations; and the notification of an FTA by Members should take place as early as possible, in general no later than the parties' ratification of the FTA. Thus the WTO continues to be relevant inasmuch as it is involved in process of enhancing transparency of FTAs. The role of WTO in resolving trade disputes has increased pursuant to such FTAs. However, with FTAs becoming an important feature of International Trade, it has been argued by scholars that the Doha Round is likely to lose its urgency.
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Is post facto Tax legislation an intelligent or a lame idea.Comment in the light of Vodafone case
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Include : Background of Vodafone Case: The Hutch-Vodafone deal took place in 2007 that involved the transfer of shares of a foreign company outside India, which indirectly held the shares of an Indian company. In one of India's biggest tax controversies, the Tax Authority is demanding approximately US$2.5 billion in capital gains tax from UK-based Vodafone, with additional penalties in a similar range. Explain how such a move can effect the Investment in India: Negative climate created for future investors Investors unsure of the Government now Slowdown of FDI/FII in India already so it ll worsen the problem
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##Question:Is post facto Tax legislation an intelligent or a lame idea.Comment in the light of Vodafone case##Answer:Include : Background of Vodafone Case: The Hutch-Vodafone deal took place in 2007 that involved the transfer of shares of a foreign company outside India, which indirectly held the shares of an Indian company. In one of India's biggest tax controversies, the Tax Authority is demanding approximately US$2.5 billion in capital gains tax from UK-based Vodafone, with additional penalties in a similar range. Explain how such a move can effect the Investment in India: Negative climate created for future investors Investors unsure of the Government now Slowdown of FDI/FII in India already so it ll worsen the problem
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Recently a fine was imposed on Barclays Bank for manipulation of LIBOR and EURIBOR rates. Discuss the issue and its global implications.
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Libor, the London inter-bank lending rate, is considered to be one of the most crucial interest rates in finance. Barclays was fined £290m after some of its derivatives traders were found to have attempted to rig this key rate. The scandal has forced Barclays chief executive Bob Diamond to resign, while chairman Marcus Agius also announced his resignation but will take over as executive chairman until a successor can be found. Barclays manipulated Libor submissions to give a healthier picture of the bank's credit quality and its ability to raise funds. Impact on global economy Banks may simply stop contributing LIBOR estimates to minimise the risks of being prosecuted or sued. Civil lawsuits against banks might be so large as to undermine financial stability. Another risk is that changes to the method of calculating LIBOR could lead to very different numbers being generated. In the euro area in particular, banks are lending almost no money to one another. Most banks that now have cash prefer to deposit funds at the European Central Bank (ECB), which in turn lends it on to those that are short of it. It means trouble for other London bankers and potentially the banking sector as a whole.The rapidly developing row over manipulation of inter-bank lending rates is turning into a battle over the future of banks around the world. Analysts warn that the problems erupting at major British banks could further rock Britain's recession-hit economy. Any change in that main rate could feed through the financial system to make loans, mortgages or credit card interest rates more expensive, or cheaper. Libor rate affects: Regulators are focusing on at least four of Europe's biggest banks in the rate-fixing scandal. Crédit Agricole, HSBC, Deutsche Bank and Société Générale are the subject of the probe
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##Question:Recently a fine was imposed on Barclays Bank for manipulation of LIBOR and EURIBOR rates. Discuss the issue and its global implications.##Answer:Libor, the London inter-bank lending rate, is considered to be one of the most crucial interest rates in finance. Barclays was fined £290m after some of its derivatives traders were found to have attempted to rig this key rate. The scandal has forced Barclays chief executive Bob Diamond to resign, while chairman Marcus Agius also announced his resignation but will take over as executive chairman until a successor can be found. Barclays manipulated Libor submissions to give a healthier picture of the bank's credit quality and its ability to raise funds. Impact on global economy Banks may simply stop contributing LIBOR estimates to minimise the risks of being prosecuted or sued. Civil lawsuits against banks might be so large as to undermine financial stability. Another risk is that changes to the method of calculating LIBOR could lead to very different numbers being generated. In the euro area in particular, banks are lending almost no money to one another. Most banks that now have cash prefer to deposit funds at the European Central Bank (ECB), which in turn lends it on to those that are short of it. It means trouble for other London bankers and potentially the banking sector as a whole.The rapidly developing row over manipulation of inter-bank lending rates is turning into a battle over the future of banks around the world. Analysts warn that the problems erupting at major British banks could further rock Britain's recession-hit economy. Any change in that main rate could feed through the financial system to make loans, mortgages or credit card interest rates more expensive, or cheaper. Libor rate affects: Regulators are focusing on at least four of Europe's biggest banks in the rate-fixing scandal. Crédit Agricole, HSBC, Deutsche Bank and Société Générale are the subject of the probe
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After 18 years of dithering and doubts, the Russian Parliament voted to ratify WTO entry, in principle guaranteeing Russian products access to world markets. Would this benefit WTO and BRICs? Discuss.
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With Brazil, India and China already members, Russia will soon become the final BRIC in the global-trade club. This offers the country a fresh chance at industrial modernisation after two decades which started with chaotic reform and ended with spiraling corruption — and were marked throughout by perilous dependence on extractive industries. Benefit Russia urgently needs a more diversified economy. Russia’s gas-export revenues are already under threat from the world gas glut caused by the success of new “fracking” technology. New sources of oil compound the trouble. With a population of over 140m and rapidly rising consumption, Russia’s domestic market could form a solid foundation for its manufacturers to become exporters, reducing its dependence on energy and minerals. There is a fair amount of industry left in Russia that has prospects of competing on global markets, if given a chance. Potential strengths include aircraft, helicopters, industrial gear such as pumps and compressors and, inevitably, military equipment. It is a first step towards a rules-based system. In joining the WTO, Russia will have committed to bring its trade laws and practices into compliance with WTO rules and other market-opening measures. It will be able to hold its WTO partners accountable for adhering to WTO rules in conducting their trade relations with Russia, making those trade relations more predictable and stable. For the WTO as a whole, Russia’s accession means that all major economies will be under the WTO umbrella. Russia will help shape the WTO agenda. For some that may be viewed as positive if Russia’s interests are congruent with theirs. For others, it may be negative, if those interests are in conflict.
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##Question:After 18 years of dithering and doubts, the Russian Parliament voted to ratify WTO entry, in principle guaranteeing Russian products access to world markets. Would this benefit WTO and BRICs? Discuss.##Answer:With Brazil, India and China already members, Russia will soon become the final BRIC in the global-trade club. This offers the country a fresh chance at industrial modernisation after two decades which started with chaotic reform and ended with spiraling corruption — and were marked throughout by perilous dependence on extractive industries. Benefit Russia urgently needs a more diversified economy. Russia’s gas-export revenues are already under threat from the world gas glut caused by the success of new “fracking” technology. New sources of oil compound the trouble. With a population of over 140m and rapidly rising consumption, Russia’s domestic market could form a solid foundation for its manufacturers to become exporters, reducing its dependence on energy and minerals. There is a fair amount of industry left in Russia that has prospects of competing on global markets, if given a chance. Potential strengths include aircraft, helicopters, industrial gear such as pumps and compressors and, inevitably, military equipment. It is a first step towards a rules-based system. In joining the WTO, Russia will have committed to bring its trade laws and practices into compliance with WTO rules and other market-opening measures. It will be able to hold its WTO partners accountable for adhering to WTO rules in conducting their trade relations with Russia, making those trade relations more predictable and stable. For the WTO as a whole, Russia’s accession means that all major economies will be under the WTO umbrella. Russia will help shape the WTO agenda. For some that may be viewed as positive if Russia’s interests are congruent with theirs. For others, it may be negative, if those interests are in conflict.
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Write down the initiatives proposed by Planning Commission for Social Development in 12th FYP.
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Include the following points: Higher Education- NCHER to be made, developing a Research Culture Encouraging Private Participation in Education- Private sector growth in higher education (including technical) should be facilitated and innovative Public?Private Partnerships (PPP) should be explored and developed in the Twelfth? Plan. Private higher education accounts for about four?fifths of enrolment in professional higher education and one?third overall. This growth trend is likely to continue in the Twelfth Plan. Skill Development & Enhancing Employability- During the Twelfth?Plan,there is an urgent need to develop a large sector offering short?cycle qualifications in the form of associate degrees catering to intermediate skills in the higher education space within the National Vocational Education Qualifications Framework. A special effort is needed in the Twelfth Plan to create a Plan within a Plan. There are already programmes such as the Backward Regions Grant Fund (BRGF), Border Area Development Programme (BADP), Hill Area Development Programme (HADP), the Kalahandi, Bolangir and Koraput (KBK) Plan, the Bihar Special Plan, the Bundelkhand Special Package, and most recently, the Integrated Action Plan (IAP) for Left Wing Extremism (LWE) affected districts. The Twelfth Plan should create a greater coherence among all these Special Plans. This objective will be served by identifying suitable programmes for the following categories which can then be developed into an integrated programme for the concerned region: • Neglected rain?fed regions whose significance and untapped potential to contribute to agricultural growth has been outlined in the chapter on the farm sector. • The Central Indian tribal belt, which is vulnerable to Maoist activities • Remote and isolated areas such as those in the Himalayan and border regions • Remote tribes and isolated ethnic groups who suffer from economic and educational backwardness • The poorest sections of the population in terms of income/consumption. These include Women and Children Headed Households.
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##Question:Write down the initiatives proposed by Planning Commission for Social Development in 12th FYP.##Answer:Include the following points: Higher Education- NCHER to be made, developing a Research Culture Encouraging Private Participation in Education- Private sector growth in higher education (including technical) should be facilitated and innovative Public?Private Partnerships (PPP) should be explored and developed in the Twelfth? Plan. Private higher education accounts for about four?fifths of enrolment in professional higher education and one?third overall. This growth trend is likely to continue in the Twelfth Plan. Skill Development & Enhancing Employability- During the Twelfth?Plan,there is an urgent need to develop a large sector offering short?cycle qualifications in the form of associate degrees catering to intermediate skills in the higher education space within the National Vocational Education Qualifications Framework. A special effort is needed in the Twelfth Plan to create a Plan within a Plan. There are already programmes such as the Backward Regions Grant Fund (BRGF), Border Area Development Programme (BADP), Hill Area Development Programme (HADP), the Kalahandi, Bolangir and Koraput (KBK) Plan, the Bihar Special Plan, the Bundelkhand Special Package, and most recently, the Integrated Action Plan (IAP) for Left Wing Extremism (LWE) affected districts. The Twelfth Plan should create a greater coherence among all these Special Plans. This objective will be served by identifying suitable programmes for the following categories which can then be developed into an integrated programme for the concerned region: • Neglected rain?fed regions whose significance and untapped potential to contribute to agricultural growth has been outlined in the chapter on the farm sector. • The Central Indian tribal belt, which is vulnerable to Maoist activities • Remote and isolated areas such as those in the Himalayan and border regions • Remote tribes and isolated ethnic groups who suffer from economic and educational backwardness • The poorest sections of the population in terms of income/consumption. These include Women and Children Headed Households.
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Discuss the Administrative, Fiscal and Monetary measures taken by the government and RBI to contain Food Inflation.
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·Fiscal Measures: (a) Reduction in import duties to zero for cereals and edible oils; (b) National Dairy Development Board (NDDB) was permitted to import milk substitutes; (c) NAFED was allowed to import sugar. These measures aimed at increasing supply of those commodities whose prices witnessed rapid increase Administrative Measures: (1) Banned export of edible oils; (b) banned export of non-basmati rice and wheat; (c) prohibited export of milk products. These measures aimed at maintaining supply of important commodities. Monetary Measures: Consistent increases in policy rates by RBI. This was done to ensure moderation of demand.
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##Question:Discuss the Administrative, Fiscal and Monetary measures taken by the government and RBI to contain Food Inflation. ##Answer: ·Fiscal Measures: (a) Reduction in import duties to zero for cereals and edible oils; (b) National Dairy Development Board (NDDB) was permitted to import milk substitutes; (c) NAFED was allowed to import sugar. These measures aimed at increasing supply of those commodities whose prices witnessed rapid increase Administrative Measures: (1) Banned export of edible oils; (b) banned export of non-basmati rice and wheat; (c) prohibited export of milk products. These measures aimed at maintaining supply of important commodities. Monetary Measures: Consistent increases in policy rates by RBI. This was done to ensure moderation of demand.
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Discuss the steps taken by RBI and government to stabilize the value of Indian Rupee.
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·The positive as well as negative impact of slide in value of India Rupee must be mentioned. These steps can be mentioned: (a) Measures to increase supply of foreign exchange: by relaxing conditions for trade credit and ECB; by increasing the FII limit for investment in government securities and corporate bonds by US $ 5 million each to US$ 15 billion and US$ 20 billion respectively; and by increasing interest rates on NRI deposits; (b) Administrative Measures by RBI involving forward contracts and remittance transactions in Indian Rupee.
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##Question:Discuss the steps taken by RBI and government to stabilize the value of Indian Rupee. ##Answer: ·The positive as well as negative impact of slide in value of India Rupee must be mentioned. These steps can be mentioned: (a) Measures to increase supply of foreign exchange: by relaxing conditions for trade credit and ECB; by increasing the FII limit for investment in government securities and corporate bonds by US $ 5 million each to US$ 15 billion and US$ 20 billion respectively; and by increasing interest rates on NRI deposits; (b) Administrative Measures by RBI involving forward contracts and remittance transactions in Indian Rupee.
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The Public Health Foundation of India (PHFI) completed five years of its establishment in 2011. Discuss the mandate of PHFI.
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·Define Public Health ("the science and art of preventing disease, prolonging life and promoting health through the organized efforts and informed choices of society, organizations, public and private, communities and individuals"). The PHFI is working towards building public health capacity by: Establishing a network of new institutes of public health in India, Establishing strong national networks and international partnerships for research, Generating policy recommendations and developing vigorous advocacy platform, Facilitating the establishment of an independent accreditation body for degrees in public health which are awarded by training institutions across India and Assisting the growth of existing public health training institutions. Four Institutes of Public Health have already started functioning in Bhubaneswar, Delhi, Gandhinagar and Hyderabad.
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##Question:The Public Health Foundation of India (PHFI) completed five years of its establishment in 2011. Discuss the mandate of PHFI. ##Answer: ·Define Public Health ("the science and art of preventing disease, prolonging life and promoting health through the organized efforts and informed choices of society, organizations, public and private, communities and individuals"). The PHFI is working towards building public health capacity by: Establishing a network of new institutes of public health in India, Establishing strong national networks and international partnerships for research, Generating policy recommendations and developing vigorous advocacy platform, Facilitating the establishment of an independent accreditation body for degrees in public health which are awarded by training institutions across India and Assisting the growth of existing public health training institutions. Four Institutes of Public Health have already started functioning in Bhubaneswar, Delhi, Gandhinagar and Hyderabad.
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Discuss the recommendations of Rangarajan Panel on public expenditure with special emphasis on Plan and Non Plan expenditure.
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Doing away with the Plan and Non-plan expenditure - define plan and non-plan expenditure. 'Plan' expenditure is spent on productive asset creation through central government-sponsored programmes and flagship schemes, while 'non-Plan' refers to all other expenditures, such as those on defence, subsidies and interest payments, including expenditure on establishment and maintenance activities, such as salaries. Explain the rationale behind this recommendation -dysfunctional, given the heavy expenditure on personnel, administration and social sector schemes, distorting effect etc. Adjusted Revenue Deficit target should be mentioned in the FRBM Act. Reorientation of roles of the Ministry of Finance and the Planning commission While the finance ministry will become the primary agency deciding and disbursing resources for government sectors and programmes after the declassification, the planning commission will function as an advisory body that will seek to ensure the spending is in accordance with the developmental priorities of the government. Shift in budgeting approach to multi-year horizon and strengthening of Central Plan Monitoring System (CPMS).
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##Question:Discuss the recommendations of Rangarajan Panel on public expenditure with special emphasis on Plan and Non Plan expenditure.##Answer: Doing away with the Plan and Non-plan expenditure - define plan and non-plan expenditure. 'Plan' expenditure is spent on productive asset creation through central government-sponsored programmes and flagship schemes, while 'non-Plan' refers to all other expenditures, such as those on defence, subsidies and interest payments, including expenditure on establishment and maintenance activities, such as salaries. Explain the rationale behind this recommendation -dysfunctional, given the heavy expenditure on personnel, administration and social sector schemes, distorting effect etc. Adjusted Revenue Deficit target should be mentioned in the FRBM Act. Reorientation of roles of the Ministry of Finance and the Planning commission While the finance ministry will become the primary agency deciding and disbursing resources for government sectors and programmes after the declassification, the planning commission will function as an advisory body that will seek to ensure the spending is in accordance with the developmental priorities of the government. Shift in budgeting approach to multi-year horizon and strengthening of Central Plan Monitoring System (CPMS).
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Examine the role and status of "Small Savings" in Indian Economy. What are the recommendation of Shyamala Gopinath Committee on Small Savings to revitalize this sector?
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Role of Saving Schemes in India Savingshas an important place in the mobilization of resources for development expenditure because the investors would get back their money along with some interest and save paying it as outright tax. Further in a developing economy in which there will be always surplusmoney availablewith some sectors to the extent that thesavingsare tapped themoney availablefor circulation is taken away and to that extent pressure on prices and inflationary trend is reduced. Status · Risk FreeInvestment asSmall SavingsSchemes are fully secured by Govt. of INDIA. · Higher rate of interest. · Nomination facility · Amount invested will be utilized for the development of the state. Committee on Small Savings headed by RBI Deputy Governor Shyamala Gopinath on 7 June 2011 suggested raising interest rates on Post Office savings bank deposits to 4 per cent. The committee recommended linking returns on other small savings schemes with interest rates on government securities. It suggested that Kisan Vikas Patra (KVP) be withdrawn and the annual investment limit for the popular Public Provident Fund (PPF) be raised to Rs.1 lakh from Rs.70000 at present. The committee recommended that interest rates for Post Office savings deposits be raised to 4 per cent from 3.5 per cent at present. Interest rate for one-year deposit scheme would go up to 6.8 per cent from 6.25 per cent, while returns for the PPF would improve to 8.2 per cent from 8 per cent. Given that the small savings schemes are agent-driven, the committee suggested that the commission on them should be gradually reduced from 4 per cent to 1 per cent. The panel notified that the Centre should introduce the system of calculation of interest rate on a daily basis on post office schemes as is being done by banks.
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##Question:Examine the role and status of "Small Savings" in Indian Economy. What are the recommendation of Shyamala Gopinath Committee on Small Savings to revitalize this sector?##Answer:Role of Saving Schemes in India Savingshas an important place in the mobilization of resources for development expenditure because the investors would get back their money along with some interest and save paying it as outright tax. Further in a developing economy in which there will be always surplusmoney availablewith some sectors to the extent that thesavingsare tapped themoney availablefor circulation is taken away and to that extent pressure on prices and inflationary trend is reduced. Status · Risk FreeInvestment asSmall SavingsSchemes are fully secured by Govt. of INDIA. · Higher rate of interest. · Nomination facility · Amount invested will be utilized for the development of the state. Committee on Small Savings headed by RBI Deputy Governor Shyamala Gopinath on 7 June 2011 suggested raising interest rates on Post Office savings bank deposits to 4 per cent. The committee recommended linking returns on other small savings schemes with interest rates on government securities. It suggested that Kisan Vikas Patra (KVP) be withdrawn and the annual investment limit for the popular Public Provident Fund (PPF) be raised to Rs.1 lakh from Rs.70000 at present. The committee recommended that interest rates for Post Office savings deposits be raised to 4 per cent from 3.5 per cent at present. Interest rate for one-year deposit scheme would go up to 6.8 per cent from 6.25 per cent, while returns for the PPF would improve to 8.2 per cent from 8 per cent. Given that the small savings schemes are agent-driven, the committee suggested that the commission on them should be gradually reduced from 4 per cent to 1 per cent. The panel notified that the Centre should introduce the system of calculation of interest rate on a daily basis on post office schemes as is being done by banks.
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What is the need of planning in the era of LPG? Discuss the changing role of planning commission.
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The Planning Commission has now prepared the draft XII Five-Year Plan for 2012-17 with revenue and expenditure projections of the Central and State governments over the five years. After Independence, the government undertook the responsibility for economic development. The concept of welfare state instead of merely a law and order state took hold. More importantly, the primary if not the sole responsibility for economic development was considered to be that of the government. Socialistic State became the model. As the one-year horizon of the annual government budget was considered too small as tool for long-term development, five-year plans were drawn up. The significant feature is the evolution of mixed economy with both government and private sector participation. The latest venture is public-private participation in major projects such as infrastructure development. Fiscal management The growing importance of prudent fiscal management as a tool for economic development has been recognised. One noteworthy development is the volatility in the economies all over the world with repercussions on Indian economy. Fiscal stimulus and later its withdrawal when not needed require planning beyond the annual budget. The role of planning in managing modern market economy is quite different from what it was three decades ago when the public sector was seen as having an expanding role and government sector pervasive whereas under the present circumstances, the country expects and encourages much freer operation of market forces and the Government is withdrawing from large part of the economy. A whole range of social sector, especially health and education, are clearly areas where the Planning Commission must play a much larger role than it has in the past, if it has to meet the huge gaps that the country faces at present. In addition, the entire area of rural economic infrastructure is one that cannot be left entirely or mainly to the private sector. Programmes of soil and moisture conversation, rural land development, provision of safe drinking water and sanitation are areas where the state will have a role in the foreseeable future. In the area of economic infrastructure for the rest of the economy, what is needed is a partnership. In the past, economic infrastructure such as railways, ports, national roads and power were all provided by the Public Sector. Now, these services have been opened up to the private sector to the extent that the private sector can be expected to come in and this varies from sector to sector. Public investment both at the Centre and in the States will continue to have a major role in the development of the country and the prioritisation of this investment will form part of the planning process. The most vital function of planning in such a federal system is to evolve a shared vision of or a shared commitment to the national objectives in the government at all levels, but also among all other economic agents. Planning Commission is best equipped to evolve a long-term economic strategy for the development of the country. In spite of the liberalisation of the economy, there are some functions, which can be performed by the Planning Commission alone. For instance, it is required to address the national objectives of poverty alleviation, population control, employment generation and balanced regional development in a holistic manner. Leaving these issues to the sectoral ministries runs the danger of the inter linkages and synergies being overlooked. Another area where Planning Commission is relevant is in co-coordinating the economic activities of the central and state governments and among the central ministries. Coherent policy-making requires that some agency ensures that the different and autonomous tiers do not work at cross-purposes. In addition, the creation of a partnership in the public and private sector in other infrastructure sectors requires a supportive regulatory framework. Here, policy planning rather than the old fashioned material planning plays a crucial role.
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##Question:What is the need of planning in the era of LPG? Discuss the changing role of planning commission.##Answer:The Planning Commission has now prepared the draft XII Five-Year Plan for 2012-17 with revenue and expenditure projections of the Central and State governments over the five years. After Independence, the government undertook the responsibility for economic development. The concept of welfare state instead of merely a law and order state took hold. More importantly, the primary if not the sole responsibility for economic development was considered to be that of the government. Socialistic State became the model. As the one-year horizon of the annual government budget was considered too small as tool for long-term development, five-year plans were drawn up. The significant feature is the evolution of mixed economy with both government and private sector participation. The latest venture is public-private participation in major projects such as infrastructure development. Fiscal management The growing importance of prudent fiscal management as a tool for economic development has been recognised. One noteworthy development is the volatility in the economies all over the world with repercussions on Indian economy. Fiscal stimulus and later its withdrawal when not needed require planning beyond the annual budget. The role of planning in managing modern market economy is quite different from what it was three decades ago when the public sector was seen as having an expanding role and government sector pervasive whereas under the present circumstances, the country expects and encourages much freer operation of market forces and the Government is withdrawing from large part of the economy. A whole range of social sector, especially health and education, are clearly areas where the Planning Commission must play a much larger role than it has in the past, if it has to meet the huge gaps that the country faces at present. In addition, the entire area of rural economic infrastructure is one that cannot be left entirely or mainly to the private sector. Programmes of soil and moisture conversation, rural land development, provision of safe drinking water and sanitation are areas where the state will have a role in the foreseeable future. In the area of economic infrastructure for the rest of the economy, what is needed is a partnership. In the past, economic infrastructure such as railways, ports, national roads and power were all provided by the Public Sector. Now, these services have been opened up to the private sector to the extent that the private sector can be expected to come in and this varies from sector to sector. Public investment both at the Centre and in the States will continue to have a major role in the development of the country and the prioritisation of this investment will form part of the planning process. The most vital function of planning in such a federal system is to evolve a shared vision of or a shared commitment to the national objectives in the government at all levels, but also among all other economic agents. Planning Commission is best equipped to evolve a long-term economic strategy for the development of the country. In spite of the liberalisation of the economy, there are some functions, which can be performed by the Planning Commission alone. For instance, it is required to address the national objectives of poverty alleviation, population control, employment generation and balanced regional development in a holistic manner. Leaving these issues to the sectoral ministries runs the danger of the inter linkages and synergies being overlooked. Another area where Planning Commission is relevant is in co-coordinating the economic activities of the central and state governments and among the central ministries. Coherent policy-making requires that some agency ensures that the different and autonomous tiers do not work at cross-purposes. In addition, the creation of a partnership in the public and private sector in other infrastructure sectors requires a supportive regulatory framework. Here, policy planning rather than the old fashioned material planning plays a crucial role.
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Compulsory Licensing
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A compulsory license, also known as statutory license or mandatory collective management, provides that the owner of a patent or copyright licenses the use of their rights against payment either set by law or determined through some form of arbitration. In essence, under compulsory license, an individual or company seeking to use a patent can do so without seeking the patent holder's consent, and pays the patent holder a set fee for the license.
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##Question:Compulsory Licensing##Answer:A compulsory license, also known as statutory license or mandatory collective management, provides that the owner of a patent or copyright licenses the use of their rights against payment either set by law or determined through some form of arbitration. In essence, under compulsory license, an individual or company seeking to use a patent can do so without seeking the patent holder's consent, and pays the patent holder a set fee for the license.
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Blue Box Subsidy
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A category of domestic subsidies specific to the Agreement on Agriculture permitted only because they are believed to distort trade less than amber box subsidies. They are an exception to the general rule that all subsidies linked to agricultural production must be reduced or kept to minimal levels. These subsidies include payments linked to land size and livestock numbers under schemes such as the setting aside of agricultural land to limit over production.
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##Question:Blue Box Subsidy##Answer:A category of domestic subsidies specific to the Agreement on Agriculture permitted only because they are believed to distort trade less than amber box subsidies. They are an exception to the general rule that all subsidies linked to agricultural production must be reduced or kept to minimal levels. These subsidies include payments linked to land size and livestock numbers under schemes such as the setting aside of agricultural land to limit over production.
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CEMA block
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The Council of Economic Mutual Assistance (CEMA) was established by the USSR in 1949 to co-ordinate the economic activities of its newly acquired empire in Eastern Europe. CEMA's true role in intra-Bloc relations has undergone significant changes since the death of Stalin.
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##Question:CEMA block##Answer:The Council of Economic Mutual Assistance (CEMA) was established by the USSR in 1949 to co-ordinate the economic activities of its newly acquired empire in Eastern Europe. CEMA's true role in intra-Bloc relations has undergone significant changes since the death of Stalin.
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List the salient features of the proposed Persons with Disabilities Bill, 2011
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·a. to guarantee equality and non-discrimination to all persons with disabilities; b. to recognize legal capacity of all persons with disabilities and make provision for support where required to exercise such legal capacity; c. to recognize the multiple and aggravated discrimination faced by women with disabilities and induct a gendered understanding in both the rights and the programmatic interventions; d. to recognize the special vulnerabilities of children with disabilities and ensure that they are treated on an equal basis with other children; e. to mandate proactive interventions for persons with disabilities who are elderly, confined to their homes, abandoned and segregated or living in institutions and also those who need high support; f. to establish National and State Disability Rights Authorities which facilitate the formulation of disability policy and law with active participation of persons with disabilities; dismantle structural discrimination existing against persons with disabilities and enforce due observance of regulations promulgated under this Act for the protection, promotion and enjoyment of all rights guaranteed in this Act; g. to specify civil and criminal sanctions for wrongful acts and omissions.
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##Question: List the salient features of the proposed Persons with Disabilities Bill, 2011##Answer: ·a. to guarantee equality and non-discrimination to all persons with disabilities; b. to recognize legal capacity of all persons with disabilities and make provision for support where required to exercise such legal capacity; c. to recognize the multiple and aggravated discrimination faced by women with disabilities and induct a gendered understanding in both the rights and the programmatic interventions; d. to recognize the special vulnerabilities of children with disabilities and ensure that they are treated on an equal basis with other children; e. to mandate proactive interventions for persons with disabilities who are elderly, confined to their homes, abandoned and segregated or living in institutions and also those who need high support; f. to establish National and State Disability Rights Authorities which facilitate the formulation of disability policy and law with active participation of persons with disabilities; dismantle structural discrimination existing against persons with disabilities and enforce due observance of regulations promulgated under this Act for the protection, promotion and enjoyment of all rights guaranteed in this Act; g. to specify civil and criminal sanctions for wrongful acts and omissions.
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List the important objectives of the revised Scheme of Assistance for Prevention of Alcoholism and Substance Abuse of the Ministry of Social Justice & Empowerment.
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·The objectives of the Scheme for Prevention of Alcoholism and Substance (Drug) Abuse are: To create awareness and educate people about the ill-effects of alcoholism and substance abuse on the individual, the family, the workplace and society at large; To provide for the whole range of community based services for the identification, motivation, counselling, de-addiction, after care and rehabilitation for Whole Person Recovery (WPR) of addicts; To alleviate the consequences of drug and alcohol dependence amongst the individual, the family and society at large; To facilitate research, training, documentation and collection of relevant information to strengthen the above mentioned objectives; and To support other activities which are in consonance with the mandate of the Ministry of Social Justice & Empowerment in this field.
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##Question:List the important objectives of the revised Scheme of Assistance for Prevention of Alcoholism and Substance Abuse of the Ministry of Social Justice & Empowerment. ##Answer: ·The objectives of the Scheme for Prevention of Alcoholism and Substance (Drug) Abuse are: To create awareness and educate people about the ill-effects of alcoholism and substance abuse on the individual, the family, the workplace and society at large; To provide for the whole range of community based services for the identification, motivation, counselling, de-addiction, after care and rehabilitation for Whole Person Recovery (WPR) of addicts; To alleviate the consequences of drug and alcohol dependence amongst the individual, the family and society at large; To facilitate research, training, documentation and collection of relevant information to strengthen the above mentioned objectives; and To support other activities which are in consonance with the mandate of the Ministry of Social Justice & Empowerment in this field.
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Discuss the approach of the revised Integrated Programme for Older Persons run by the Ministry of Social Justice & Empowerment.
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·Under the program, assistance is given to the Panchayati Raj Institutions / local bodies and eligible Non-Governmental Voluntary Organizations for the following purposes: (i) Programmes catering to the basic needs of Older Persons particularly food, shelter and health care to the destitute elderly; (ii) Programmes to build and strengthen intergenerational relationships particularly between children / youth and Older Persons; (iii) Programmes for encouraging Active and Productive Ageing; (iv) Programmes for proving Institutional as well as Non Institutional Care / Services to Older Persons; (v) Research, Advocacy and Awareness building programmes in the field of Ageing; and (vi) Any other programmes in the best interests of Older Persons.
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##Question:Discuss the approach of the revised Integrated Programme for Older Persons run by the Ministry of Social Justice & Empowerment.##Answer: ·Under the program, assistance is given to the Panchayati Raj Institutions / local bodies and eligible Non-Governmental Voluntary Organizations for the following purposes: (i) Programmes catering to the basic needs of Older Persons particularly food, shelter and health care to the destitute elderly; (ii) Programmes to build and strengthen intergenerational relationships particularly between children / youth and Older Persons; (iii) Programmes for encouraging Active and Productive Ageing; (iv) Programmes for proving Institutional as well as Non Institutional Care / Services to Older Persons; (v) Research, Advocacy and Awareness building programmes in the field of Ageing; and (vi) Any other programmes in the best interests of Older Persons.
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Basel III norms
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BASEL III is a global regulatory standard on bank capital adequacy, stress testing and market liquidity risk agreed upon by the members of the Basel Committee on Banking Supervision in 2010-11. The third installment of the Basel Accords (see Basel I, Basel II) was developed in response to the deficiencies in financial regulation revealed by the late-2000s financial crisis. Basel III strengthens bank capital requirements and introduces new regulatory requirements on bank liquidity and bank leverage.
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##Question:Basel III norms##Answer:BASEL III is a global regulatory standard on bank capital adequacy, stress testing and market liquidity risk agreed upon by the members of the Basel Committee on Banking Supervision in 2010-11. The third installment of the Basel Accords (see Basel I, Basel II) was developed in response to the deficiencies in financial regulation revealed by the late-2000s financial crisis. Basel III strengthens bank capital requirements and introduces new regulatory requirements on bank liquidity and bank leverage.
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Financial Sector Legislative Reforms Commission- FSLRC
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Financial Sector Legislative Reforms Commission (FSLRC) headed by former Justice BN Srikrishna, to examine the means of oversight on regulators and their autonomy from the government.To help coordinate issues among regulators like SEBI, PFRDA etc
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##Question:Financial Sector Legislative Reforms Commission- FSLRC##Answer:Financial Sector Legislative Reforms Commission (FSLRC) headed by former Justice BN Srikrishna, to examine the means of oversight on regulators and their autonomy from the government.To help coordinate issues among regulators like SEBI, PFRDA etc
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What is 'Monterrey Consensus'?
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The Monterrey Consensus was the outcome of the 2002 Monterrey Conference, the United Nations International Conference on Financing for Development in Monterrey, Mexico. Since its adoption the Monterrey Consensus has become the major reference point for international development cooperation.
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##Question:What is 'Monterrey Consensus'?##Answer:The Monterrey Consensus was the outcome of the 2002 Monterrey Conference, the United Nations International Conference on Financing for Development in Monterrey, Mexico. Since its adoption the Monterrey Consensus has become the major reference point for international development cooperation.
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What is the 'Beyond GDP' initiative?
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The Beyond GDP initiative is about developing indicators that are as clear and appealing as GDP, but more inclusive of environmental and social aspects of progress. Economic indicators such as GDP were never designed to be comprehensive measures of prosperity and well-being. We need adequate indicators to address global challenges of the 21st century such as climate change, poverty, resource depletion, health and quality of life.
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##Question:What is the 'Beyond GDP' initiative?##Answer:The Beyond GDP initiative is about developing indicators that are as clear and appealing as GDP, but more inclusive of environmental and social aspects of progress. Economic indicators such as GDP were never designed to be comprehensive measures of prosperity and well-being. We need adequate indicators to address global challenges of the 21st century such as climate change, poverty, resource depletion, health and quality of life.
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Rajiv Gandhi Equity Savings Scheme
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Rajiv Gandhi Equity Saving scheme was introduced in the budget (2012-13) this year by the Finance Minister. This is first of its kind scheme in India which allows the retail investor to invest upto Rs.50, 000 directly into equity shares and avail tax benefit on 50% percent of investment made directly into equity shares.Conditions put under the scheme to avail tax benefits are 1) The investor should have income of less than Rs. 10 lakhs in a year, 2) The benefit under the scheme will be given to the first time investors into equity market only
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##Question:Rajiv Gandhi Equity Savings Scheme##Answer:Rajiv Gandhi Equity Saving scheme was introduced in the budget (2012-13) this year by the Finance Minister. This is first of its kind scheme in India which allows the retail investor to invest upto Rs.50, 000 directly into equity shares and avail tax benefit on 50% percent of investment made directly into equity shares.Conditions put under the scheme to avail tax benefits are 1) The investor should have income of less than Rs. 10 lakhs in a year, 2) The benefit under the scheme will be given to the first time investors into equity market only
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'Pay As You Go Pension Plan'
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A retirement scheme where the plan beneficiaries decide how much they want to contribute either by having the specified amount regularly deducted from their paycheck or by contributing the desired amount in a lump sum. A pay as you go pension plan is similar to a 401k. The employee can choose among the various investment options and decide on whether they want a higher return by investing in a more risky fund or a safer fund which provides steady returns.
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##Question:'Pay As You Go Pension Plan'##Answer:A retirement scheme where the plan beneficiaries decide how much they want to contribute either by having the specified amount regularly deducted from their paycheck or by contributing the desired amount in a lump sum. A pay as you go pension plan is similar to a 401k. The employee can choose among the various investment options and decide on whether they want a higher return by investing in a more risky fund or a safer fund which provides steady returns.
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CRIS - comparative sovereign ratings index
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New index that has been developed is called the “Comparative Rating Index for Sovereigns” (CRIS). The computation of CRIS is based on nothing apart from Moody’s ratings and data on the GDPs of different nations as given by the IMF. The Finance Ministry developed the relative rating index and ranked 101 economies according to this for the years 2007 to 2011. The index uses external data on GDP and ratings combined in terms of pure mathematical and statistical methods without interventions or interpretations.
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##Question:CRIS - comparative sovereign ratings index##Answer:New index that has been developed is called the “Comparative Rating Index for Sovereigns” (CRIS). The computation of CRIS is based on nothing apart from Moody’s ratings and data on the GDPs of different nations as given by the IMF. The Finance Ministry developed the relative rating index and ranked 101 economies according to this for the years 2007 to 2011. The index uses external data on GDP and ratings combined in terms of pure mathematical and statistical methods without interventions or interpretations.
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Indicative planning vs Directive planning
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Economic planningrefers to any directing or planning of economic activity outside the mechanisms of themarket. Planning is an economic mechanism for resource allocation and decision-making held in contrast with themarket mechanism.Indicative planningis a form ofeconomic planningimplemented by astatein an effort to solve the problem of imperfect informationin market and mixed-marketeconomiesand thus increase economic performance. When utilizing indicative planning, the state employs influence, subsidies, grants, and taxes [to affect the economy], but does not compel.Indicative planning is contrasted with directive or mandatory planning , where a state (or other economic unit) sets quotas and mandatory output requirements.
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##Question:Indicative planning vs Directive planning##Answer:Economic planningrefers to any directing or planning of economic activity outside the mechanisms of themarket. Planning is an economic mechanism for resource allocation and decision-making held in contrast with themarket mechanism.Indicative planningis a form ofeconomic planningimplemented by astatein an effort to solve the problem of imperfect informationin market and mixed-marketeconomiesand thus increase economic performance. When utilizing indicative planning, the state employs influence, subsidies, grants, and taxes [to affect the economy], but does not compel.Indicative planning is contrasted with directive or mandatory planning , where a state (or other economic unit) sets quotas and mandatory output requirements.
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NEER Vs REER
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The NEER represents the relative value of a home country's currency compared to the other major currencies being traded (U.S. dollar, Japanese yen, euro, etc.).A higher NEER coefficient (above 1) means that the home country's currencywill usually beworth more thanan imported currency, and a lower coefficient (below 1) means thatthe home currency will usually be worth less than the imported currency. REER is used to determine an individual country's currency value relative to the other major currenciesin the index, as adjusted for the effects of inflation.All currencies within the said index are the major currencies being traded today: U.S. dollar, Japanese yen, euro, etc.This is also the value that an individualconsumer will pay for an imported good at the consumer level.This price will include any tariffs and transactions costs associated with importing the good.
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##Question:NEER Vs REER##Answer:The NEER represents the relative value of a home country's currency compared to the other major currencies being traded (U.S. dollar, Japanese yen, euro, etc.).A higher NEER coefficient (above 1) means that the home country's currencywill usually beworth more thanan imported currency, and a lower coefficient (below 1) means thatthe home currency will usually be worth less than the imported currency. REER is used to determine an individual country's currency value relative to the other major currenciesin the index, as adjusted for the effects of inflation.All currencies within the said index are the major currencies being traded today: U.S. dollar, Japanese yen, euro, etc.This is also the value that an individualconsumer will pay for an imported good at the consumer level.This price will include any tariffs and transactions costs associated with importing the good.
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Socio Economic and Caste Census (SECC) 2011 Vs the Planning Commission estimates of poverty
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The Planning Commission provides estimates of the percentage of rural and urban population living BPLin states/ UTs. It estimates 'how many' are poor. SECC identifies the people falling within the category of poor. SECC uses a three-step process - exclusion criteria to exclude certain households from BPL category, inclusion criteria for automatic inclusion and finally, ranking on 7 deprivation indicators.
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##Question:Socio Economic and Caste Census (SECC) 2011 Vs the Planning Commission estimates of poverty##Answer:The Planning Commission provides estimates of the percentage of rural and urban population living BPLin states/ UTs. It estimates 'how many' are poor. SECC identifies the people falling within the category of poor. SECC uses a three-step process - exclusion criteria to exclude certain households from BPL category, inclusion criteria for automatic inclusion and finally, ranking on 7 deprivation indicators.
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Purchasing Managers Index (PMI) Vs Index of Industrial Production (IIP)
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ThePurchasing Managers' Index (PMI)is an indicator produced byMarkit Group(headquartered in UK)and theInstitute for Supply Management(headquartered in USA)of financial activity reflectingpurchasing managers' acquisition of goods and services. It is compiledon a monthly basis by polling businesses that represent the make up of the respective sector. The surveys cover private sector companies, but not the public sector. IIPdetails the growth of various sectors in an economy vis-a-vis a 'base year' on the basis of which all the index figures are arrived at. In case of India the base year has been fixed at 2004-2005.
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##Question:Purchasing Managers Index (PMI) Vs Index of Industrial Production (IIP)##Answer:ThePurchasing Managers' Index (PMI)is an indicator produced byMarkit Group(headquartered in UK)and theInstitute for Supply Management(headquartered in USA)of financial activity reflectingpurchasing managers' acquisition of goods and services. It is compiledon a monthly basis by polling businesses that represent the make up of the respective sector. The surveys cover private sector companies, but not the public sector. IIPdetails the growth of various sectors in an economy vis-a-vis a 'base year' on the basis of which all the index figures are arrived at. In case of India the base year has been fixed at 2004-2005.
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GDR vs FII
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GDR refers to a bank certificate issued in more than one country for shares in a foreign company. The shares are held by a foreign branch of an international bank. The shares trade as domestic shares, but are offered for sale globally through the various bank branches. Institutional investorsare organizations which pool large sums of money and invest those sums.When considered from a strictly local standpoint, institutional investors are sometimes called foreign institutional investors (FIIs).
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##Question:GDR vs FII##Answer:GDR refers to a bank certificate issued in more than one country for shares in a foreign company. The shares are held by a foreign branch of an international bank. The shares trade as domestic shares, but are offered for sale globally through the various bank branches. Institutional investorsare organizations which pool large sums of money and invest those sums.When considered from a strictly local standpoint, institutional investors are sometimes called foreign institutional investors (FIIs).
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Marginal Standing Facility (MSF)
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·Under this scheme announced by RBI, Banks will be able to borrow upto 1% of their respective Net Demand and Time Liabilities.The rate of interest on the amount accessed from this facility will be 100 basis points (i.e. 1%) above the repo rate
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##Question:Marginal Standing Facility (MSF) ##Answer: ·Under this scheme announced by RBI, Banks will be able to borrow upto 1% of their respective Net Demand and Time Liabilities.The rate of interest on the amount accessed from this facility will be 100 basis points (i.e. 1%) above the repo rate
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White-Labelled ATMs (WLA)
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·White label ATMs (WLAs) are those ATMs set up, owned and operated by non-banking companies, which would like to run it as a business enterprise and earn profits. These WLAs do not display any bank logos or labels and hence they are called as white label ATMs and they will serve all banks’ customers, as these WLAs will be interconnected with the entire ATM Network in the country. RBI recently issued guidelines on setting up WLAs.
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##Question:White-Labelled ATMs (WLA)##Answer: ·White label ATMs (WLAs) are those ATMs set up, owned and operated by non-banking companies, which would like to run it as a business enterprise and earn profits. These WLAs do not display any bank logos or labels and hence they are called as white label ATMs and they will serve all banks’ customers, as these WLAs will be interconnected with the entire ATM Network in the country. RBI recently issued guidelines on setting up WLAs.
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Baltic Dry Index
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The Baltic Dry Index (BDI) is a number issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides "an assessment of the price of moving the major raw materials by sea. Taking in 23 shipping routes measured on a timecharter basis, the index covers Handysize, Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain
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##Question:Baltic Dry Index##Answer:The Baltic Dry Index (BDI) is a number issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides "an assessment of the price of moving the major raw materials by sea. Taking in 23 shipping routes measured on a timecharter basis, the index covers Handysize, Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain
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Twin Deficit
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The twin deficits hypothesis, also called the double deficit hypothesis or twin deficits anomaly, is a concept from macroeconomics that contends that there is a strong link between a national economy's current account balance and its government budget balance.
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##Question:Twin Deficit##Answer:The twin deficits hypothesis, also called the double deficit hypothesis or twin deficits anomaly, is a concept from macroeconomics that contends that there is a strong link between a national economy's current account balance and its government budget balance.
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Structural Unemployment
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Unemployment resulting from changes in the basic composition of the economy. These changes simultaneously open new positions for trained workers.An example of structural unemployment is the technological revolution. Computers may have eliminated jobs, but they also opened up new positions for those who have the skills to operate the computers.
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##Question:Structural Unemployment##Answer:Unemployment resulting from changes in the basic composition of the economy. These changes simultaneously open new positions for trained workers.An example of structural unemployment is the technological revolution. Computers may have eliminated jobs, but they also opened up new positions for those who have the skills to operate the computers.
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Round-tripping
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·Round tripping involves getting the money out of one country, say India, sending it to a place like Mauritius and then, dressed up to look like foreign capital, sending it back home to earn tax-favored profits.
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##Question:Round-tripping##Answer: ·Round tripping involves getting the money out of one country, say India, sending it to a place like Mauritius and then, dressed up to look like foreign capital, sending it back home to earn tax-favored profits.
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Swabhiman Scheme
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Swabhiman - a nationwide programme on financial inclusion, estimated to cover approximately five crore households. It is a banking project launched to bring banking services to vast unbanked rural areas in the country.It was launched on 9 February 2010. The government has set a target of covering 73,000 new habitations, with population of 2,000 and above under the banking services by March 2012.
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##Question:Swabhiman Scheme##Answer:Swabhiman - a nationwide programme on financial inclusion, estimated to cover approximately five crore households. It is a banking project launched to bring banking services to vast unbanked rural areas in the country.It was launched on 9 February 2010. The government has set a target of covering 73,000 new habitations, with population of 2,000 and above under the banking services by March 2012.
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