05 july 2019 - wifistudy.com · abrogate (verb) = repeal or do away with (a law, right, or formal...

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05 JULY 2019

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Attribute (verb) = Regard something as being caused by (आरोपित करना)

Embrace (verb) = Accept (a belief, theory, or change) willingly and enthusiastically

Disequilibrium (noun) = A loss or lack of equilibrium or stability, especially in relation to supply, demand, and prices (असंतलुन)

Paradigm (noun) = A typical example or pattern of something; a pattern or model (उदाहरण)

Slump (noun) = Undergo a sudden severe or prolonged fall in price, value, or amount (मंदी)

Circumspection (noun) = The quality of being wary and unwilling to take risks; prudence (एहततयात)




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Buoyancy (noun) = A cheerful and optimistic attitude or disposition (उछाल)

Virtuous (adj) = Having or showing high moral standards Abrogate (verb) = Repeal or do away with (a law, right, or formal

agreement) (तनरस्त)Hegemony (nonu) = Leadership or dominance, especially by one

state or social group over others (नेततृ्व)Coup (noun) = An instance of successfully achieving

something difficult (तख्तािलट)Tacit (adj) = Understood or implied without being statedCompliance (noun) = The action or fact of complying with a wish or

command




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Title: Blue-sky visions(The ambitions of the Economic Survey depend on the implementation of its ideas)

Context:

The Economic Survey for 2018-19 reflects the views of itsprincipal author, Chief Economic Adviser (CEA)Krishnamurthy Subramanian.

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And the CEA has made bold to use the new government’s first economic assessment-cum-agenda setting exercise to posit a range of ideas that he attributes to “blue sky thinking”.

The broad goal is to help drive economic strategy to achieve sustained real GDP growth of 8% so as to enable fulfilment of the government’s grand vision of making India a $5 trillion economy by 2025. The CEA is cautiously confident that the slump in investment, which he rightly identifies as the key driver of growth, jobs and demand, has bottomed out. Setting the huge electoral mandate for the government as an enabler that would “push the animal spirits of the economy”, the survey projects real GDP growth to rebound to 7% in 2019-20.






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➢ On the fiscal front, the survey is even less optimistic. It listsseveral challenges to achieving the fiscal deficit target of 3% ofGDP by March 2021: the “apprehensions of slowing of growth”and the implications for revenue collections; the shortfall in GSTcollections and the imperative that it places on revenue buoyancythis year;

➢ The hunt for resources to fund the expanded PM-KISAN scheme,Ayushmaan Bharat and other government initiatives; and theimpact on oil purchase prices due to the U.S. sanctions on importof crude from Iran.






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Final Words➢ To achieve which, he suggests, presenting data as a ‘public good’,

ensuring policy consistency and reducing the cost of capital.Micro, small and medium enterprises must be nourished,especially firms that are most likely to boost both job creationand productivity, and labour laws made flexible. Ultimately, it isthe implementation that may well decide how “blue sky” theseideas are.






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Descriptive Question

Q. “fdvd

(Word limit: 200)






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Q.1

The Economic Survey 2019 has projected how much growth in GDP in 2019-20?a) 8 percentb) 7 percentc) 9 percentd) 11 percent

Quiz Game






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Q.2

Which two nations have the most powerful passport in 2019?a) Japan and Singaporeb) Finland and Germanyc) Denmark and South Koread) Japan and Finland

Quiz Game






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Q.3

What is India’s position in Henley Passport Index 2019?a) 76th b) 82nd c) 78th d) 86th

Quiz Game






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Q.4

Which state’s assembly has passed a bill proposing a hike in retirement age of Vice-chancellors of State own Universities?a) West Bengalb) Madhya Pradeshc) Himachal Pradeshd) Punjab

Quiz Game






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Q.5

Which nation has agreed to provide 2,500 metric tons of rice to Bangladesh for the Rohingya refugees?a) India b) Francec) Japand) China

Quiz Game






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Title: Talking sanctions, endangering peace(The Trump administration’s successive punitive actions against Irancan only be interpreted as a desire for direct conflict)

ContextMore than a year ago, the U.S. unilaterally abrogated the JointComprehensive Plan of Action (JCPOA) and began to squeeze theIranian economy using sanctions. The latest round of sanctions wereannounced in June. Iran announced a week later that it hadexceeded a limit set by the JCPOA on its stockpile of nuclear fuel.






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The Shah connection➢ The roots of this dispute can be traced back to 1953, when the

Central Intelligence Agency orchestrated a coup to remove Iran’selected Prime Minister, Mohammad Mossadegh. After institutingthe rule of Shah Mohammad Reza Pahlavi, the U.S. encouragedhim to establish a nuclear programme.

➢ The U.S. built Iran’s first nuclear reactor in 1967. The Shah wasclear that his ambitions went beyond nuclear energy, andextended to nuclear weapons. In 1974, he explained that Iranwould acquire nuclear weapons “without a doubt, and soonerthan one would think.

➢ After the Shah was toppled in 1979, the new government, underAyatollah Ruhollah Khomeini, cancelled his plans for a largenuclear-energy sector, retaining only those facilities that hadalready been established.






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➢ Khomeini also declared that nuclear weapons and other weapons ofmass destruction (WMDs) were haram — forbidden in Islam.Whatever one may think about Khomeini’s government, his spiritualinjunctions were taken very seriously. When Iraq attacked Iran withchemical weapons, with the tacit support of the Ronald Reaganadministration, Tehran refrained from responding in kind despitehaving the requisite technology.

➢ The U.S. alleged that the fuel was intended for a bomb. Theseallegations were undercut by U.S. intelligence agencies themselveswho reported that “in fall 2003 Iran halted... nuclear weapons...activities”. In 2015, after a multi-year investigation, the InternationalAtomic Energy Agency (IAEA) went further, declaring that “activitiesrelevant to... a nuclear explosive... did not advance beyond feasibilityand scientific studies” and, as a “coordinated effort”, were onlycarried out “prior to the end of 2003”.






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➢ In spite of these facts, successive U.S. administrations imposedsanctions on Iran, demanding that it completely halt uraniumenrichment. Most importantly, Tehran reiterated that “under nocircumstances” would it “ seek… nuclear weapons.” The IAEA wasgranted unprecedented powers to inspect Iran’s nuclear activities, andhas repeatedly verified Tehran’s compliance.

An economy devastated➢ Over the past year, the U.S. has made threats, mobilised troops and

warships, and provoked Tehran by flying military planes dangerously close to its border. However, Washington’s primary strategy has been to use economic measures as a weapon. It has prevented foreign entities from trading with Iran, devastating the Iranian economy.






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➢ Further, New Delhi has refused to explore several available strategiesthat could ameliorate the impact of sanctions. China has maintainedsome commercial ties with Iran by routing transactions through theBank of Kunlun. U.S. sanctions on this bank have been ineffectivesince it is carefully insulated from the U.S. financial system. Europeancountries have attempted to bypass sanctions through a specialmechanism called INSTEX.

➢ Final Words It is revealing that India has failed to join any of theseinitiatives or to develop its own solution. A few months ago, PrimeMinister Modi boasted that India’s foreign policy had become“fearless, bold and decisive”. Is this fearlessness restricted to India’sinteractions with its smaller neighbours, or is his government alsowilling to stand up to the biggest bully in the room and protect India’sinterests from Washington’s destructive policies?






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05 july 2019 - wifistudy.com · abrogate (verb) = repeal or do away with (a law, right, or formal...

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