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Current Affairs > English > 2019-01-02 > Editorial

INTERNATIONAL

 

North Korea

 

Why in News

Kim Jong-un, expressed his readiness to meet U.S President on Denuclearisation

 

Details

         North Korean leader Kim Jong-un said he is ready to meet U.S. President Donald Trump any time to achieve their common goal of denuclearising the Korean Peninsula.

         However, he warned he may have to take an alternative path if U.S. sanctions and pressure against the country continued.

         In his New Year address, Mr. Kim said denuclearisation is his firm will and suggested for the first time that North Korea would no longer produce nuclear weapons, but also urged Washington to take unspecified corresponding action to speed up the stalled diplomatic process.

 

Background

Mr. Kim and Mr. Trump vowed to work towards denuclearisation and build lasting and stable peace at their summit in Singapore in June,2018 but little progress has been made since.

         Pyongyang has demanded Washington lift sanctions and declare an official end to the 1950-53 Korean War in response to its initial, unilateral steps toward denuclearisation, including dismantling its only known nuclear testing site and a key missile engine facility.

 

Key words: North Korea, U.S, Denuclearisation

 

 

 

Awami Leagues Landslide Victory

 

Why in News

         The Awami League and its allies won 288 of the 299 seats contested, securing a third consecutive term in power.

         Jatiya Oikya Front, the Opposition coalition led by the Bangladesh Nationalist Party (BNP), got nine seats.

 

Bangladesh experts feel that an opposition less parliament is not conducive for Democracy

         At least 20-30 seats, if not 60-70, would have been better for democracy, this is too one-sided. God knows what lies ahead, said Smruti S. Pattanaik, a research fellow at the Institute for Defence Studies and Analyses, a New Delhi-based autonomous think tank funded by the Government of India.

Professor Imtiaz Ahmed of the International Relations department in Dhaka University said that the Awami League was committed to a fair election.

https://d39gegkjaqduz9.cloudfront.net/TH/2019/01/02/HYD/Hyderabad/TH/5_12/1e0969b0_2636506_101_mr.jpg

 

 

Key words: Awami League, Bangladesh

 

 

Economy

 

MSMEs

 

Why in News

The Reserve Bank of India (RBI) has relaxed the provisioning norms for MSME lenders for restructuring loans of up to Rs 25 crore.

 

Details

The RBI has allowed one-time restructuring of existing loans to MSMEs that are in default but standard as on January 1, 2019.

Banks have to make only 5% provisioning for restructuring the loans as compared to 15-20% earlier.

 

Key words: MSMEs, RBI, Stressed Assets

 

Tyre Manufacturing Industries

 

Why in News

According to credit rating agency ICRA, Tyre companies in India are likely to invest Rs 20,000 crore in the next five years in capacity addition to meet the growing demand.

 

Details

         The tyre industry in India has witnessed large capacity additions in the last decade with a cumulative spend of Rs 27,800 crore; of which 70% was spent in the last six years.

         Stating that the outlook for the Indian tyre industry would remain stable, ICRA said tyre demand would grow by 7-9% over the next five years supported by favourable outlook for the domestic automotive industry.

         In FY2019, the domestic tyre industry benefited from strong growth in both original equipment (OE) and replacement segments.

         ICRA said tyre exports from India have been steadily increasing in the last one year with recovery in demand from overseas markets and rising competitiveness of Indian makers, both in terms of quality and pricing.

 

         On the other hand, tyre imports had dwindled in the last one year following the re-imposition of anti-dumping duty (ADD) on import of new Chinese truck and bus radial (TBR) tyres for a period of five years effective from September, 2017 and increase in customs duty by 500 bps to 15%, effective April 1, 2018.

 

Key words: Tyre Manufacturing Industry, ICAR

 

Infusion of Capital

Why in News

Government infused Rs 10,882 crore in four public sector banks.

Details

         The infusion was part of the Rs 28,615-crore capital infusion to be done in about half a dozen public sector lenders.

         UCO Bank received Rs 3,074 crore in equity by way of preferential allotment.

         Besides, Bank of Maharashtra got Rs 4,498 crore, Syndicate Bank (1,632 crore) and Central Bank of India (1,678 crore).

 

Key words: Capital Infusion, PSBs

 

 

ANDHRA PRADESH

 

White Paper on Economy

 

Why in News

AP Govt released white paper on State finance and economic growth

 

Details

         The States economy has grown from Rs 4.64 lakh crore in 2013-14 to Rs 8.04 lakh crore in 2017-18 (advance estimates), registering an average growth of 14.72%.

         Per capita income (PCI) registered a growth of 14.87% in 2017-18 compared to 8.4% in 2014-15.

         The PCI remained higher than the national average during the last four years.

         Andhra Pradesh had achieved faster growth rate than Telangana.

The revenue expenditure has increased from Rs 79,471 crore in 2014-15 to Rs 1,21,214 crore in 2017-18 mainly due to shifting of capital and offices from Hyderabad to Amaravati, revision of wages of Anganwadi workers and others, capital infusion to SHGs, and loan waiver, etc.

         On other hand, the capital expenditure increased to Rs 9,720 crore in 2017-18 from Rs 7,285 crore in 2013-14 and Rs 5,938 crore in 2014-15.

The government proposed to prepare vision documents for the State and districts for 2019-24 based on the feedback from the public on the white papers released so far.

 

Key words: AP Economy, White Paper

 

 

Andhra Pradesh High Court

 

Why in News

A separate High court for the state of Andhra Pradesh came into existence, following the bifurcation of High Court of Judicature at Hyderabad.

 

Details

Justice Chagari Praveen Kumar, senior-most Judge of the High Court of Andhra Pradesh, took charge as acting Chief Justice.

Justice Praveen Kumar said a new history had begun in the State.It is my duty to strive for welfare of all sections of society. I shall work under guidance of Supreme Court judges.

 

Key words: AP High Court, AP Bifurcation Act 2014

 

 

 

Telangana High Court

Why in News

Telangana High Court came into existence with the swearing-in of its first Chief Justice Thottathil B. Radhakrishnan and 12 other judges.

 

Details

         The Chief Justice was sworn in by the Governor at Raj Bhavan in the presence of the Chief Minister

         Later,the Chief Justice administered the oath of office to the 12 judges in the forecourt of the imposing Telangana High Court building.

 

Key words: Telangana High Court, AP Reorganisation Act 2014

 

Agricultural Marketing

 

Why in News

Telangana Agricultural Marketing Department has rolled-out e-services along with a mobile application, aiming transparency in its operations towards benefiting the farmers ultimately.

 

Details

         The e-services would initially be utilised for issuance of licences and permits to commission agents and traders, 'takkpatties' (farmer/trader-wise receipts on the quantity of commodities traded) to farmers and traders by the commission agents and e-permits by traders.

         Besides, services such as payment of market fee online, submission of monthly purchase returns and issuance of cash receipts online by agriculture market committees (AMC) would also be delivered with the help of e-services.

The e-services will help the licensed traders and commission agents to buy agriculture produce available in any of the agriculture market committees and private markets across the State and also the stocks available in godowns and cold storages, online.

         The system would also benefit the farmers get a competitive price.

 

 

Key words: Agricultural Marketing, AMCs, E-services, Telangana