[Current] March-Week4-P3: Economy, E-Governance, Essays- SEBI ordinance, EPFO permanent Account, Nirbhik Revolver, National Games

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Economic Survey
  1. Prologue
  2. [Act 5] Economy
    1. E1: SEBI ordinance
    2. E2: Bank of India: Instant Money Transfer Scheme
    3. E3: EPFO- Permanent Account Number
  3. [Act 6] Yearbook / PIB / E-Gov type
    1. Y1: Green E-Clearance
    2. Y2: PPP in TB
    3. Y3: Nirbheek Revolver
    4. Y4: Should we stop National games?
  4. [Act 7] Essay Fodder from VP Speeches
    1. F1: Education related Essay points
    2. F2: Culture, Diversity, Democracy
  5. Mock Questions

Prologue

Before reading this article, practice writing following topics THEN compare your answer with the points given in the article.

Essay (each in 2500 words and three hours)

  1. Relevance of University education in 21st Century.
  2. Relevance of culture and tradition in the age of globalization.

GS Mains Paper II

Answer following in 100 words each (~4 minutes, 5 marks)

  1. (Regulatory bodies) Enumerate the powers invested to SEBI under the recent presidential ordinance.
  2. (Health) Discuss in brief, the benefits and challenges in involving public private partnership to combat Tuberculosis.

[Act 5] Economy

I’m not covering RBI bank license (because we are at “March week4”, License topic will covered next time under April Week1)

E1: SEBI ordinance

  • In 2013, Government had introduced Securities Laws (amendment) Bill, 2013. But it couldn’t be passed, but since the matter was of urgent importance, government decided to implement the provisions as an ordinance.
  • In March 2014, For the third time, Government extended this ordinance.

The silent features of the bill/ordinance:

  1. Empowers SEBI to investigate, raid and attach bank account and properties.
  2. If a person doesn’t comply with SEBI order, SEBI can arrest him without approaching the court.
  3. If any entity gathers funds of 100 crore OR above from juntaa, it’ll be called Collective investment scheme. (=indirectly it means company will fall under jurisdiction of SEBI, because SEBI regulates after Collective investment schemes.) This is necessary because Sahara says, “our scheme was above 100 crore but we are not a CIS, hence SEBI doesn’t have jurisdiction over us”
  4. SEBI can further expand the definition of Collective Investment funds through regulations.
  5. Individuals and companies being probed by SEBI can settle their pending investigations.
  6. SEBI can sign agreements with foreign financial regulators for exchange of information.
  7. Fast track courts for speedy trials of pending SEBI cases.

What was the need to promulgate through ordinance?

  • Given the nuisance of Sahara and thousands of fake Ponzi schemes running in the country = SEBI needs more powers.
  • therefore government came up with the bill.
  • But bill couldn’t be passed due to Dysfunctional parliamentary sessions.
  • Art 123 of Constitution empowers President to issue ordinance during recess of parliament.
  • Thus, The Securities Laws (amendment) Bill, 2013 promulgated as ordinance for 3th time.

Timeline

Jul 13 original ordinance (1st time)
Sep 13 ordinance extended (2nd time)
January 14 bill lapsed
March 2014 Ordinance extended. (3rd time)

E2: Bank of India: Instant Money Transfer Scheme

Situation:

  • You want to send money to Mr.X but he doesn’t have bank account / ATM.
  • Ask his mobile number.
  • in Bank of India’s instant money transfer portal- you type his phone number, secret code, cash amount.
  • He gets a secret SMS (4 digit PIN)
  • He goes to IMT enabled ATM. Types his mobile number, sender code and SMS pin
  • thus money transferred.

Benefits

  1. Non-card holder can access money transfer through formal banking.
  2. Increase financial inclusion
  3. Faster and reliable money transfer

E3: EPFO- Permanent Account Number

Problem

  • When a person changes job, he had to get new account number. Then transfer money from previous account to new account
  • Every more than 10 lakh such applications filed.
  • Result: Inconvenience to customer. Many of them permanently close EPFO account and invest money in some scheme by private insurance/mutual fund/pension type companies. = EPFO’s client gone.

Solution:

  • Now EPFO will give universal account number (UAN) to all subscribers
  • so even if you change job, your account number remains the same (just like bank account or PAN card)
  • C-DAC [Centre for Development of Advanced Computing] will develop the technology.

[Act 6] Yearbook / PIB / E-Gov type

Y2: PPP in TB

Q. Discuss in brief, the benefits and challenges in involving public private partnership to combat Tuberculosis. (100 words)

Benefits:

  1. Public sector health care institutions face shortage of quality human resources. More than 60% of the TB patients receive treatment from private sector anyways.
  2. Therefore, Partnership with private sector will bring uniformity in planning and quality of TB control program.

Challenges:

  1. Private sector has poor compliance with the Revised National TB Control Programme’s (RNTCP).
  2. They don’t monitor patients regularity, nor check patient’s adherence to Drug course completion. This increases the number of drug-resistant TB cases.
  3. Sometimes, private medical providers use inappropriate tests and prescriptions, leading to rising patient costs and incorrect diagnosis.

~98 words.

Y3: Nirbheek Revolver

Nirbheek Nirbhik Revolver for women safety india

  • By Indian Ordinance Factory.
  • For self-protection of women. Name inspired from Nirbhaya, the victim of Dec 2012 gangrape.
  • This is the first Indian gun designed especially for women.
  • 0.32 bore, weighs only 500 gms. (regular version weigh 750 gms)
  • Can fire six bullets in succession.
  • Doesn’t jam unlike pistols.
  • Men can also buy it, but factory will give first priority women.
  • Limitation: Too expensive >Rs.1.2 lakhs. Cheaper alternatives like pepper sprays. And more importantly, if state became strict enforcing law and order, women wouldn’t need to carry such weapons / devices anyways.

Side theory: What is BORE vs caliber?

Bore Caliber
Internal diameter of gun’s barrel. same
for pistols, revolvers for rifles. (Although there is no rule- even pistol can be expressed in calibre 0.45 calibre revolver.)
Expressed in inches Expressed in mm or inches.
Nirbhik revolver is 0.32 bore. INSAS rifle = 5.56 mm caliber (= 0.22 inches)

Y4: Should we stop National games?

(Interview) Q. recently Sports Authority of India (SAI) proposed to scrap the national games. Is it a right move?

Background:

  • National games are held once in every two years.
  • 2009: 35th National games were to be held @Kerala
  • but postponed because Kerala yet to finish building stadiums.
  • In this context, SAI suggested two things to India Olympic Association
  1. scrap the national games altogether OR
  2. Hold this 35th tournament @SAI centers.

Opinion:

  • National games is premier sporting event of India, therefore should not be scrapped.
  • But the venue / time can be shifted.
  • Kerala can host the event in some other year, when their stadiums are fully functional.
  • If the national games are scraped- it’d would discourage the sports community and undermine the government’s commitment towards development of Sports and Youth in India.

[Act 7] Essay Fodder from VP Speeches

in last week of March 2014, Vice President made two speeches, both contained lot of good points for essay.

  1. [email protected]: pib.nic.in/newsite/PrintRelease.aspx?relid=104719
  2. [email protected] International conference on Traditional Culture: pib.nic.in/newsite/PrintRelease.aspx?relid=104674

F1: Education related Essay points

University:

  1. Universities are not a modern novelty. They have existed in all civilisations from ancient Greece and ancient India, to Medieval Egypt, Morocco and Europe.
  2. Universities emerged whenever human thought processes evolved to the point of asking questions that go beyond primary needs of human existence.
  3. Universities are expected to offer a depth and breadth of vision not available in the rush of everyday life.
  4. University is a place that not only produces knowledge but also produces doubt
  5. University is a place that is ‘creative and unruly, home to polyphony of voices’.
  6. University has a practical objective: to impart skills to get a job or a better job, to improve prospects in life. For the latter reason, University syllabus must respond to the requirements of the age.
  7. But our universities have turned into degree awarding machines. This doesn’t benefit youth, they do not receive sufficient guidance on career options at the school leaving stage and therefore drift through a degree course aimlessly. (and then give UPSC exam)
  8. University Professors are not focusing on quality teaching. They do not evoking the interest of the students, or encourage them to critical and innovative thinking. The curiosity latent in every young mind is not awakened.

Teacher and Teaching

  1. ‘No man can be a good teacher unless he has feelings of warm affection towards his pupils and a genuine desire to impart to them what he himself believes to be of value.’
  2. Teaching should be a calling of aptitude and choice rather than of necessity.
  3. 21st century education must have two ingredients
    1.  globalisation of education standards
    2. up-gradation of skills

Quotes:

Ibn Khaldun
  • The pasture of stupidity is unwholesome for mankind’ and ‘the evil of falsehood is to be fought with enlightened speculation’;
  • hence the need both for critical insight, and for lifting the veil of ignorance.
?? Teaching should be a calling of aptitude and choice rather than of necessity.

F2: Culture, Diversity, Democracy

Indian diversity and tolerance:

Three interconnected ideas:

  1. We must repudiate the idea that the state belongs to the dominant group / majority.
  2. Nation building policies must try to recognize and accommodate diversity. Instead of assimilating every group and excluding groups that refuse to assimilate.
  3. We must acknowledge the historic injustice and make amends for it.

Freedom and anarchy

  • Freedom is not synonymous with anarchic behavior
  • Freedom doesn’t mean arbitrary demands undermining the very purpose of democracy.
  • Those who wrote grammars of democracy in earlier or modern times did not visualize anarchy as a valid option.

Social customs

  • Social customs usually represent the crystallization of occasion-specific requirements;
  • Social customs are neither sacred nor immutable.
  • From other (foreign) societies we can learn that practical correction can be made in (idiotic) social customs without transgressing “Core” values of society.

Tradition

  • A tradition means anything that is handed down from the past generation to the present. Traditions are not independently self-productive or self-elaborating.
  • Mankind cannot live without traditions
  • Mankind cannot live satisfactorily with all traditions it receives from past generation.
  • Therefore, Traditions are both persistent and disrupted.
  • Traditions are indispensable.
  • Traditions do not impede forward movement of societies. They lend authenticity to them.
  • Human societies retain traditions, not because they love it but because they grasp that they could not survive without those tradition.
  • We must remember that tradition and modernity are not antipodes.(opposites)
  • We must try to locate valuable tradition and adapt it into the framework of modernity
  • We should examine the past – with critical thinking and not just for adulation (praise). Therefore, we should avoid imaginary glory and chauvinism / jingoism.

Globalisation

  • Ours is a world characterized by globalization of values and culture.
  • While globalization alienates us from our root, but at the same time, provides opportunity to learn from the experience and practices of others.
  • Globalization erodes national cultures and traditions.
  • Migrants introduce greater complexity and heterogeneity to societies.
  • Thus, Migrants help the host-society become progressive, multicultural and poly-ethnic.

Mock Questions

Not framing MCQs this time because I’m ‘saving’ them for a full-fledged 100 MCQ mock test for later.

Essay

  1. Relevance of University education in 21st Century.
  2. Relevance of culture and tradition in the age of globalization.

General Studies paper 1 (GS1)

  1. Discuss the Cultural importance of Menhir sites in India (100 words)
  2. Why is Rakhigarhi site an important Archaeological milestone in India? (100 words)

General Studies paper 2 (GS2)

  1. List the provisions related to Twin nomination in the RPA Act and examine the need for reforms in it. (100 words)
  2. Discuss in brief, the provisions relating Voting rights of Defence personnel, and recent SC verdict on it. (200 words)
  3. Write a note on the legal initiates taken to prohibit manual scavenging in recent times. (200 words)
  4. Examine the need for further empowerment of SEBI, and discuss the provisions of recent ordinance for it. (200 words)
  5. Discuss India’s stand on the latest UNHRC resolution against Sri Lanka. Do you agree that India has fully changed its foreign policy on Sri Lanka with this? (200 words)
  6. Write a brief note on India’s foreign policy under the Prime minister Manmohan Singh.  (200 words)
  7. What is MFN status? What benefits could Indian gain by MFN-status in Pakistan? Why hasn’t the deal materialized yet? (200 words)
  8. Discuss the importance of rail connectivity to Arunanchal Pradesh and the recent initiatives taken therein. (100 words)
  9. Enumerate the powers invested to SEBI under the recent presidential ordinance.
  10. Write a note on the importance of Green E-Clearance project. (100 words)
  11. Discuss in brief, the benefits and challenges in involving public private partnership to combat Tuberculosis. (100 words)

Visit Mrunal.org/CURRENT for entire Archive weekly current affairs compilations published so far.

Mrunal recommends

34 Comments on “[Current] March-Week4-P3: Economy, E-Governance, Essays- SEBI ordinance, EPFO permanent Account, Nirbhik Revolver, National Games”

  1. Sir, science bhi cover kar digeya plssss..

    1. i’ll be covering sci-tech separately lekin abhi 1-2 weeks busy in other projects.

      1. Thnx you ..ur awesome

      2. सर आप का जवाब नहीं|

  2. Thanks Sir, these articles supplements so well with newspaper reading!

  3. Thank you sir..very nice compilation..

  4. MCQs at the end of the topic help in retaining the key points but the idea of reserving them for a test will definitely make us more serious towards the questions…
    Looking forward to the questions…:)
    Well articulated article, as always !!

  5. bravo. very good attempt. keep it up

  6. THANKS A LOT!!

  7. thank you thank you thank you thank you thank you

  8. Sir it will be better if u upload mock test of.prelims paper 1 so that we can assess our performance and release answer keys with explanation whenever n wherever required may be a week or so later so that we can have flexible time to write.

  9. thanku very much mrunal bhai………….

  10. sir,
    Can the provision of collective investment scheme in the SEBI ORDINANCE be applied retrospectively in SAHARA case. ?
    Pls reply.

  11. icouldnt agree more…traditions must be respected in order to inculcate d feeling of unity in d nation….but blindly following west is not the right option at all…
    amazing facts:}

  12. i m getting addicted to ur page…many many congrats to you .thanks

    1. really…an extraordinary help by mrunal sir !!!

  13. until and unless succeed i’ll in touch this blog..
    It gives immense knowledge amd pleasure for towards succeding..
    Thnk you sir

  14. Isn’t there a flaw in the instant money transfer scheme? How can he enter into the ATM counter without a card? #oksorry

    1. Those ATMs will be IMT enabled not the normal one. May be they will provide an option related to it.

    2. Hi mrunal …
      If possible plz organize one ALL INDIA ONLINE MOCK TEST for CSE pre 2014(comprehensive)
      Thanks a ton in advanced

    3. Most probably there wil b some options in the ATM machine itself 4 d same.
      It is similar to INSTANT MONEY ORDER (IMo) introduced by indian post department couple of years back

  15. Hello Mrunal……
    U r just Flawless…
    Eep it up… God Bless!

  16. Hi mrunal …
    If possible plz organize one ALL INDIA ONLINE MOCK TEST for CSE pre 2014(comprehensive)
    Thanks a ton in advanced

    1. Dear Mrunal sir
      Kindly organize ALL India Online Mock Test for UPSC prelims

  17. This content is very useful

  18. this initiative much helpful than essay contest, thank you.

  19. this is great

  20. awsome compilation sir

  21. a very good and valuable work.

  22. That’s a slick answer to a chagienllng question

  23. Thanks sir for providing such a wonderful things bt to sit in front of systems our eyes will get spoil sopls release the books sir

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