Today's news

Today’s important articles/news in various newspapers (6th July)

Dear aspirants, following are the links of various articles taken from various newspapers. Click the link to read further. To get notification, follow the blog. Thank you!

1- India, Israel to set up $40 mn research fund

India and Israel announced a strategic partnership between the two countries after a meeting between Prime Minister Narendra Modi and his Israeli counterpart Benjamin Netanyahu, and signed seven agreements in the fields of water, agriculture, space, including a $40 million joint fund for research and development in innovation.

2- Speaking the language of change?

Q- Development is not the expansion of economic freedom, but following Amartya Sen, is the removal of all kinds of “unfreedoms” so that governance delivers the three goals of security, growth and equity achieved in ecologically sustainable ways. Examine.

Link it with GS Paper 2 (inclusive development)

3- Realise the de facto realities on J&K

The row over the U.S. terming a part of Jammu and Kashmir as being “India-administered” is a bit overdone, if not hypocritical. Especially Ghulam Nabi Azad, a Kashmiri, and a Leader of the Opposition in the Rajya Sabha, attacking the government for not contesting the American characterisation. Mr. Azad called it a ‘compromise’ as regards national security.

Link it with GS Paper 3 (Internal security)

4- Missile diplomacy

In early January, Donald Trump, then the U.S. President-elect, tweeted that North Korea would never develop a “nuclear weapon capable of reaching parts of the U.S.”. But Pyongyang appears to have done exactly that, defying warnings issued by Washington.

5- Search for a new inflation normal

Paradoxically, policymakers are toying with the idea of tweaking up the inflation target for the industrialised economies though most central banks have consistently fallen short of the current 2% rate in the last 10 years.

Q- Concerns mount that a prolonged low interest rate scenario could risk stability. Explain.

6- Importance of being simple

What is a good and simple tax and why is the present indirect tax structure bad and complicated? There are several reasons behind the bad, ugly and complicated visage — the constitutional structure, history and legacy, differential treatment of goods vis-à-vis services, multiple rates and exemptions. Exemptions mean loss in revenue.

Link it with GS Paper 3 (Tax reform)

7- The real lessons of the July 1997 Asian crisis

Many of the most wildly successful economies in Asia tumbled into a crisis in July 1997. They had to be bailed out by the International Monetary Fund on terms that led to a lot of political angst. India was hit as well.

Its importance is in knowing historical economic crisis.

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