Current Affairs for IAS Exams - 25 NOVEMBER 2018

::NATIONAL::

Experts say govt.fixed quota of water flow in Ganga inadequate

Former Union Water Resources Secretary Shashi Shekhar has said that the government’s October 9 notification requiring a “minimum flow” in the Ganga is “woefully inadequate.”
Additionally, an analysis by Professor Vinod Tare of the Indian Institute of Technology, Kanpur of the actual water flow at barrages downstream of Haridwar and using data provided by the Central Water Commission, suggests that actual flow today already exceeds the government’s prescriptions.
While the government has promised to reduce pollution in the Ganga by 70% by March 2019, environmentalists say that this relies on setting up sewage plants rather than ensuring that the natural flow of the river isn’t blocked and thereby hobbling its propensity to clean itself.
However, the government’s notification said that the upper stretches of the Ganga from its origins in the glaciers and until Haridwar would have to maintain 20% of the monthly average flow between November and March, which is the dry season; 25% of the average during the ‘lean season’ of October, April and May; and 30% of monthly average during the monsoon months of June-September.
For the main stem of the Ganga from Haridwar in Uttarakhand to Unnao, Uttar Pradesh the notification specifies minimum flow at various barrages: Bhimgoda (Haridwar) must ensure a minimum of 36 cubic metres per second (cumecs) between October-May, and 57 cumecs in the monsoon.

Jammu Kasmir assembly dissolution against Supreme court directives : Opposition

In dissolving the Jammu and Kashmir Assembly without giving any claimant an opportunity to form the government, Governor Satya Pal Malik has violated constitutional law and convention.
Mr. Malik’s stated reasons for his action “extensive horse trading” and the possibility that a government formed by parties with “opposing political ideologies” would not be stable are extraneous.
In Rameshwar Prasad (2006), the then Bihar Governor Buta Singh’s recommendation for dissolving the Assembly the previous year was held to be illegal and mala fide. In both instances, the dissolution came just as parties opposed to the ruling dispensation at the Centre were close to staking a claim to form the government.
In Bihar, the Assembly was then in suspended animation as no party or combination had the requisite majority; in J&K, the State has been under Governor’s rule since June, when the BJP withdrew from the coalition and Chief Minister Mehbooba Mufti, of the Peoples Democratic Party, resigned.
It is true that the PDP and the National Conference had not initiated any move to form a popular government for months and favoured fresh elections. But that cannot be the reason for the Governor to dissolve the 87-member House just when they were about to come together to form a likely 56-member bloc with the help of the Congress.
J&K’s relationship with the Centre is rooted in constitutional safeguards as well as in the participation of its major parties in electoral politics and parliamentary democracy. Anyone interested in political stability in the sensitive State should ensure that democratic processes are strengthened. The potential for political instability in the future should not be cited as a reason to scuttle emerging alliances.

::ECONOMY::

Insolvency law helps resolve 3 lakh crore worth stressed assets

The insolvency law has helped in directly and indirectly addressing stressed assets worth ₹3 lakh crore in the last two years, a senior government official said on Saturday.
More than 9,000 cases have come for redressal under the Insolvency and Bankruptcy Code (IBC), which became fully operational in December 2016.
Corporate Affairs Secretary Injeti Srinivas said there had been a direct and indirect impact of the Code on stressed assets worth ₹3 lakh crore. The estimated amount included recoveries made through resolution plans and cases settled before admission by the National Company Law Tribunal (NCLT) under the Code.
Further, the Corporate Affairs Secretary noted that there are non-standard NPA accounts that have been converted to standard accounts by virtue of borrowers paying back the overdue amount and that figure would be around ₹45,000-50,000 crore.
Together, the amount would be close to ₹3 lakh crore in terms of stressed assets that have been directly and indirectly impacted by the Code, he added.
Mr. Srinivas also said that much of the money might be pertaining to operational creditors. Besides, he said there were some bottlenecks with NCLT, insolvency resolution professionals and Committee of Creditors (CoC).

SEBI to act against manipulative and orchestrated non-genuine trades in BSE

The Securities and Exchange Board of India (SEBI) has started acting against entities that are alleged to have executed manipulative and orchestrated non-genuine trades in the illiquid stock option segment of BSE almost five years ago.
The penalty, however, imposed in most cases has been the minimum stipulated ₹5 lakh, though the markets regulator and the Supreme Court have earlier stated that these are serious offences affecting the integrity and safety of the markets.
In the recent past, there have been at least five such orders where the regulator has imposed a penalty of ₹5 lakh each on the alleged offenders. In one other matter, however, a penalty of ₹20 lakh has been imposed on Pepson Steels Pvt. Ltd.
If any person indulges in fraudulent and unfair trade practices relating to securities, he shall be liable to a penalty which shall not be less than five lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of such practices, whichever is higher,” states Section 15HA.
The order by Ms Buch had further said the investigation “found that the entities have indulged in fraudulent and unfair trade practice by virtue of reversal trades” which is a “serious violation affecting the integrity of securities market and investor confidence.”
The investigation found that a set of entities were repeatedly incurring huge losses by executing reversal trades in the illiquid stock options contracts while another set was repeatedly making huge profits by becoming the counter party in orchestrated trades.

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::INTERNATIONAL::

Iran President urges worldwide muslims to unite against U.S

Iranian President Hassan Rouhani urged Muslims worldwide on Saturday to unite against the United States and assured Saudis that they were “brothers” who had nothing to fear from Tehran.
U.S. President Donald Trump abandoned a landmark 2015 nuclear deal between major powers and Tehran in May and has since reimposed crippling unilateral sanctions.
“What the United States wants of (the Middle East) today is enslavement,” Mr. Rouhani told an Islamic unity conference in Tehran.
Instead of “rolling out the red carpet for criminals,” Muslim governments should unite against the U.S. and “the region’s cancerous tumour Israel,” he said.
Mr. Rouhani urged Shiite Iran’s Sunni rival Saudi Arabia to end its dependence on “insulting” U.S. military aid. “We are ready to defend the Saudi people’s interests against terrorism and superpowers with all our might,” he said. “We do no ask $450 billion for it and will not insult you.”

China and U.S escalate their trade wars

China and the U.S. are escalating their game of smoke and mirrors ahead of the G-20 summit, where Chinese President Xi Jinping and his U.S. counterpart Donald Trump are expected to meet.
The leaders could sign a truce deal in the scalding trade war between the world’s two largest economies. But a breakthrough to end the ongoing tariff warfare is unlikely.
As the countdown for the Buenos Aires conclave began, China seemed to offer an olive branch. President Xi called President Trump, apparently to break the cycle of animosity that had spilled over from the arena of trade to the geopolitical turf.
Taiwan, the frictions in the South China Sea and China’s alleged internment of around 1 million Uyghur dissidents were grabbing headlines.
It all peaked in balmy Papua New Guinea, the jewel in the Pacific Ocean, where leaders of the 21-nation Asia Pacific Economic Cooperation (APEC) grouping had converged. At a China-built convention centre in Port Moresby, Mr. Xi and U.S. Vice-President Mike Pence famously traded barbs.
For the first time in its history, APEC was unable to issue a customary joint statement because of differences over language between the U.S. and Chinese delegations. Both Mr. Xi and Mr. Pence left before the curtains could be formally drawn on the summit.
The game of psychological one-upmanship is likely to go down to the wire before the G-20 meets on November 30.

::SCIENCE & TECHNOLOGY::

Experts suggest plastic as a solution to bad roads

Since 2001, R. Vasudevan, Dean, Thiagarajar College of Engineering, Madurai, and his team at the Centre for Studies on Solid Waste Management (CSSWM) have come out with a research finding that promises to address two pressing problems together: bad roads and burgeoning plastic waste.
Dr. Vasudevan, known as the ‘Plastic Man of India,’ has been praised by Prime Minister Narendra Modi and also awarded the Padma Shri this year.
His process, patented in 2006, involves mixing shredded plastic with hot gravel and adding it to molten asphalt. Plastic and bitumen bond well together because both are petroleum products. This combination enhances the road’s ability to carry weight, as well as its life.
The plastic road technology, when it was patented, evoked excitement as it came as an answer to the nagging problem of waste plastic disposal. A performance appraisal by the Central Pollution Control Board (CPCB) showed that plastic roads did not develop familiar defects: potholes, rutting, ravelling or edge flaw, even after four years.
The Centre told Parliament in August that the Roads Ministry “encourages” the use of waste plastic in National Highways construction, especially on National Highways within a 50 km periphery of urban areas that have a population of 5 lakh or more.
The guidelines for the use of waste plastic stipulate a stretch of at least 10 km as a pilot project for assessment, so as to make it compulsory in highways contracts. So far, however, no National Highway has been constructed with waste plastic and no target has been set for it during 2017-18.
Dr. R. Vasudevan, Dean, doesn’t advocate blanket bans. “Plastic is poor man’s friend. Its ban will hit ordinary people,” says the ‘Plastic Man of India’. “What we need is a ‘garbage culture’ and a proper collection system in local bodies.”

::SPORTS::

Legendary boxer Mary Kom wins sixth world championship

M.C. Mary Kom’s great stature touched a new high when she claimed her sixth title in the World women’s boxing championships at Indira Gandhi Stadium Complex here on Saturday.
The 35-year-old saw off Hanna Okhota of Ukraine with a 5-0 margin in the 48kg final to take her first gold medal after eight years. This was her second Worlds crown on home soil and msecond in light flyweight. Her first four gold medals had come in pinweight.
With six gold medals and a silver, the diminutive Mary now stands as the tallest woman boxer in the 17-year-old history of the event and equals legendary male boxer Cuban Felix Savon’s World championships record.
In a hard-fought duel between two southpaws, Mary showcased her beautiful assortment of right jabs and well-rehearsed combinations to seize the initiative.
“Thank you for your love and support. I don’t have anything to give except for a gold medal to the country. I know it will be a bit difficult for me to win a gold in Tokyo as I will have to fight in 51kg. I am still dreaming about winning the gold in 2020 Olympics,” said Mary, who was adjudged the Best Boxer, wiping her tears.