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Discom Losses and UDAY Scheme

Why in News Distribution Companies’ (Discom) losses, which had progressively reduced in the first couple of years since the rollout of Ujwal...

23 Dec 2019 News Analysis
Kisan Diwas

Why in News The 'Kisan Diwas' or National Farmers Day is observed across the country on 23rd December to celebrate the birth anniversary of...

23 Dec 2019 News Analysis
Slowdown in India: Part 2

This article is based on “A solution: Two bad banks for the Four Balance Sheet problem” which was published in The Indian Express on...

21 Dec 2019 News Editorials
EU Green Deal

Why in News In the background of the failure of the global community to reach any agreement in the recently concluded COP 25, the European Union (EU)...

21 Dec 2019 News Analysis
CST-100 Starliner

Why in News CST-100 Starliner is a space capsule of National Aeronautics and Space Administration (NASA) which failed its first test flight....

21 Dec 2019 News Analysis
Afghanistan First Country to Recognise Indian Pharmacopoeia

Why in News The Islamic Republic of Afghanistan has formally recognised the Indian Pharmacopoeia (IP). It is a reputable book of standards for...

21 Dec 2019 News Analysis
Apache Helicopters for Indian Army

Why in News The deal for six AH-64E Apache attack helicopters for the Indian Army is to be signed. Currently, the Army Aviation Corps operates...

21 Dec 2019 News Analysis
Indo – US 2+2 Dialogue

Why in News India and the US have recently concluded second 2+2 ministerial dialogue in Washington. Several landmark agreements in both defence...

21 Dec 2019 News Analysis
Society of Biotechnology of India

Why in News Recently, the Society of Biotechnology of India (SBPI) was launched by former biotechnologists and technocrats of the Union Department...

21 Dec 2019 News Analysis
Slowdown in India: Part 1

This article is based on “How and why the Indian economy is losing its growth momentum” which was published in The Indian Express on...

20 Dec 2019 News Editorials
2019 Pollution and Health Metrics: Global, Regional and Country Analysis Report

Why in News The 2019 Pollution and Health Metrics: Global, Regional and Country Analysis report from the Global Alliance on Health and Pollution...

20 Dec 2019 News Analysis
National Company Law Appellate Tribunal (NCLAT)

Why in News The National Company Law Appellate Tribunal (NCLAT) has held that the removal of Cyrus Pallonji Mistry from the post of Executive...

20 Dec 2019 News Analysis
Pinaka Missile System

Why in News Recently, an updated version of Pinaka Missile System, named Pinaka Mark II rocket was successfully flight-tested from the Integrated...

20 Dec 2019 News Analysis
In Depth - Visual Positioning System

Google has announced a revamped version of Maps that utilizes a complex visual positioning system (VPS) to offer improved navigation. VPS has been...

20 Dec 2019 Lok Sabha & Rajya Sabha Discussions
ILP in Meghalaya

Why in News The Meghalaya Assembly has adopted a resolution for implementing the Inner Line Permit (ILP) regime in the state. The Government of...

20 Dec 2019 News Analysis
Sashastra Seema Bal

Why in News Recently, the 56th Raising Day Parade of Sashastra Seema Bal (SSB) was held in New Delhi. Key Points SSB comes under the aegis of...

20 Dec 2019 News Analysis
Rhinos to be Re-introduced in Uttarakhand

Why in News Recently, the Uttarakhand State Wildlife Board has cleared a proposal by the Wildlife Institute of India (WII) to introduce rhinoceroses...

20 Dec 2019 News Analysis
Operation Twist

Why in News The Reserve Bank of India has announced that it will carry out US-style 'Operation Twist' to bring down interest rates. Key...

20 Dec 2019 News Analysis
Lessons from NPA Crisis

This article is based on “Some key lessons from the NPA crisis” which was published in The Hindu Business Line on 18/12/2019. It...

19 Dec 2019 News Editorials
Macau to Celebrate 20th Anniversary

Why in News Macau celebrated the 20th Anniversary since the former Portuguese colony was returned to China. The Macau Special Administrative...

19 Dec 2019 News Analysis

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			'title' => 'Discom Losses and UDAY Scheme',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>Distribution Companies&rsquo; (Discom) losses, which had progressively reduced in the first couple of years since the rollout of Ujwal Discom Assurance Yojana (UDAY) in November 2015, have rebounded in the financial year 2019.</p>
<ul style="list-style-type: square;">
<li>Book losses of discoms reduced from Rs 51,562 crore in the financial year 2016 to Rs 15,132 crore in 2018. However, the losses in 2019 have nearly doubled to Rs 28,036 crore vis-a-vis 2018. This points that discoms are lagging behind in eliminating the <strong>ACS-ARR gap</strong> (the gap between Average Cost of Supply and Average Revenue Realised).</li>
<li>Discoms have also missed the year 2019 UDAY target to bring down their <strong>Aggregate Technical and Commercial (AT&amp;C)</strong> losses to 15%.</li>
<li>The primary reason is the failure of discoms to collect the full cost that they pay for power &mdash; the same issue that had led to the floundering of the previous two schemes - <strong>Accelerated Power Development and Reforms Programme (APDRP)</strong> and <strong>Restructured APDRP (R-APDRP).</strong></li>
</ul>
<div class="border-bg">
<p><strong>Aggregate Technical and Commercial (AT&amp;C) Losses</strong></p>
<ul style="list-style-type: square;">
<li><strong>It has two components</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Technical Loss:</strong> It is due to the flow of power in transmission and distribution system.</li>
<li><strong>Commercial Loss:</strong> It is due to theft of electricity, deficiencies in metering, etc.</li>
</ul>
</li>
</ul>
</div>
<h3>UDAY Scheme</h3>
<ul style="list-style-type: square;">
<li>The Ujwal Discom Assurance Yojana (UDAY) was launched by the <strong>Ministry of Power in November 2015</strong> to help turn around the poor financial situation of state discoms.</li>
<li><strong>Critical Components</strong><br />
<ul style="list-style-type: circle;">
<li>Takeover of 75% of discom debt by state governments,</li>
<li>Reduction in AT&amp;C losses,</li>
<li>Timely tariff revisions and elimination of the gap between the Average Cost of Supply (ACS) and Average Revenue Realised (ARR) by the financial year 2019.</li>
</ul>
</li>
<li>It also envisages development of renewable energy sector and availability of 24*7 Power For All at an affordable price.</li>
<li>There are several other operational efficiency targets under UDAY, such as feeder metering, smart metering and feeder segregation etc.</li>
<li>The Scheme will wind up in March 2020.</li>
</ul>
<p><a href="https://indianexpress.com/article/cities/delhi/uday-scheme-power-discom-losses-6180263/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
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		],
		(int) 1 => [
			'title' => 'Kisan Diwas',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>The 'Kisan Diwas' or National Farmers Day is observed across the country on<strong> 23<sup>rd</sup> December</strong> to celebrate the birth anniversary of <strong>Chaudhary Charan Singh,</strong> the former Prime Minister of India.</p>
<ul style="list-style-type: square;">
<li>It is celebrated to promote awareness among the citizens to understand the importance of the contributions of the farmers to the society and overall economic and social development of a country.</li>
<li>Government also aims to encourage the farmers across the country by organizing various activities like debates and seminars on agriculture.</li>
</ul>
<h3>Chaudhary Charan Singh<a href="http://www.drishtiias.com/images/uploads/1577085706_image1.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1577085706_image1.png" style="float: right;" width="143" height="231" caption="false" /></a></h3>
<ul style="list-style-type: square;">
<li>He was born in <strong>1902</strong> at Noorpur in<strong> Meerut district of Uttar Pradesh</strong> and was the Prime Minister of India from 28 July 1979 to 14 January 1980.</li>
<li>Being a <strong>proponent of rural and agricultural development</strong> he made continuous efforts for keeping agriculture at the centre of planning for India.</li>
<li>He took a leading part in formulation and finalisation of the <strong>Debt Redemption Bill 1939,</strong> in order to give relief to the peasantry from moneylenders.</li>
<li>He was instrumental in bringing about the <strong>Land Holding Act, 1960</strong> which was aimed at lowering the ceiling on land holdings to make it uniform throughout the State.</li>
<li>He was the <strong>author of several books and pamphlets,</strong> including &lsquo;Abolition of Zamindari&rsquo;, &lsquo;Co-operative Farming X-rayed&rsquo;, &lsquo;India&rsquo;s Poverty and its Solution&rsquo;, &lsquo;Peasant Proprietorship or Land to the Workers&rsquo; and &lsquo;Prevention of Division of Holdings Below a Certain Minimum&rsquo;.</li>
</ul>
<p><a href="https://indianexpress.com/article/india/will-make-all-efforts-to-secure-farmers-future-rahul-gandhi-on-kisan-diwas-5506386/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
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			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/kisan-diwas'
		],
		(int) 2 => [
			'title' => 'Slowdown in India: Part 2',
			'catname' => 'News Editorials',
			'desc' => '<div class="border">
<p>This article is based on <a href="https://indianexpress.com/article/opinion/columns/indian-economy-gdp-slowdown-modi-government-6175652/lite/" target="_blank" rel="noopener"><strong>&ldquo;A solution: Two bad banks for the Four Balance Sheet problem&rdquo;</strong></a> which was published in The Indian Express on 21/12/2019. It talks about measures that should be taken to revive the growth in the Indian Economy.</p>
</div>
<p>The <a href="/daily-updates/daily-news-editorials/slowdown-in-india-part-1" target="_blank" rel="noopener"><strong>first part of this article</strong></a> showed that slowdown in India <strong>arrived in two waves.</strong> The <strong>first wave,</strong> the <strong>Twin Balance Sheet crisis,</strong> encompassing<strong> banks</strong> and <strong>corporates</strong> arrived after the global financial crisis in 2009. The<strong> second wave</strong> is centred around the crisis in <strong>NBFCs</strong> and <strong>real estate sector</strong> (because of unsustainable financing and rising inventory of unsold housing).</p>
<p>As a result, the economy now confronts a <strong>Four Balance Sheet (FBS) problem.</strong> This can be resolved by the following steps:</p>
<h3>Resolving the Non-Performing Assets (NPAs) crisis</h3>
<ul style="list-style-type: square;">
<li><strong>Two bad banks</strong> (for Real estate and power sectors) to resolve the Four Balance Sheet problem might be one critical element of the solution.<br />
<ul style="list-style-type: circle;">
<li>Creation of<strong> special resolution mechanisms</strong> for these two sectors is important because:<br />
<ul style="list-style-type: disc;">
<li><strong>Majority of NPAs</strong> are in these two sectors.</li>
<li>These sectors are <strong>socially and commercially very important.</strong></li>
</ul>
</li>
<li>In this context, a <strong>holding company or public-sector asset rehabilitation agency (bad bank) can be created.</strong><br />
<ul style="list-style-type: disc;">
<li>Holding company would buy stressed assets, based on the recommendations of independent parties, such as investment banks. This would allow the transaction to be seen as fair by all stakeholders.</li>
<li>This would free up balance sheets and management attention of banks and allowing them to focus on their core business of supporting economic growth.</li>
<li>The holding company can be mandated to sell off the assets within five years, after which it would be dissolved.</li>
</ul>
</li>
</ul>
</li>
<li><strong>A New asset quality review</strong> will be needed to get a more honest recognition of the magnitude of stressed assets.</li>
<li><strong>Efficient implementation</strong> of policies like<a href="/loksabha-rajyasabha-discussions/the-big-picture-tackling-npas-the-new-strategy" target="_blank" rel="noopener"><strong> Project &lsquo;Sashakt&rsquo;</strong> </a>should be done to effectively tackle the problem of rising NPAs.</li>
<li><a href="/loksabha-rajyasabha-discussions/in-depth-insolvency-and-bankruptcy-code-act" target="_blank" rel="noopener"><strong>Insolvency and Bankruptcy Code (IBC)</strong> </a><strong>needs</strong> further strengthening.</li>
</ul>
<h3>Competitive Financial Market</h3>
<ul style="list-style-type: square;">
<li>The government must ensure that banks run in the larger national interest but <strong>commercial decisions are best left to bank boards.</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Banks&rsquo; Boards</strong> must be empowered to decide on<strong> capital raising plans</strong> from the market within a well-defined framework.</li>
</ul>
</li>
<li>The<strong> promotion of corporate debt markets</strong> both for performing loans as well as distressed loans needs special attention.</li>
</ul>
<h3>Raising Exports and Demand in Economy</h3>
<ul style="list-style-type: square;">
<li>Government intervention should <strong>comprise steps to spur demand</strong> in the economy, by <strong>raising the purchasing power of the masses,</strong> especially in rural India.</li>
<li>India still has nearly half of its workforce engaged in agriculture. Therefore, <strong>investment in agriculture will serve twin benefits:</strong><br />
<ul style="list-style-type: circle;">
<li>One, of raising rural demand and purchasing power.</li>
<li>Two, agricultural exports can check India's unfavourable balance of payment and can emerge as an important source of foreign exchange.</li>
</ul>
</li>
<li><strong>Liberalised foreign direct investment norms in the manufacturing sector,</strong> will result in the generation of employment in India and increase the competitiveness of <strong>India's exports.</strong></li>
</ul>
<p>India should view current slowdown, not as a crisis but as an opportunity to carry out much-needed reforms, only then it can achieve the goal of becoming a $5 trillion economy.</p>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr>
<td style="width: 100%; border-style: dotted; border-color: #ff0000; background-color: #fffbd9;">
<p><span style="color: #000080;"><em><strong>Drishti Mains Question<br /><br /></strong></em></span>India should view current slowdown, not as a crisis but as an opportunity to carry out much-needed reforms, only then it can achieve the goal of becoming a $5 trillion economy. Discuss.</p>
</td>
</tr>
</tbody>
</table>',
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			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-editorials/getting-the-indian-economy-back-on-track'
		],
		(int) 3 => [
			'title' => 'EU Green Deal',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>In the background of the failure of the global community to reach any agreement in the recently concluded <a href="/daily-updates/daily-news-analysis/cop-25-ends-without-concrete-outcome" target="_blank" rel="noopener"><strong>COP 25</strong></a>, the <a href="/important-institutions/drishti-specials-important-institutions-international-institution/european-union" target="_blank" rel="noopener"><strong>European Union</strong></a> (EU) has come up with a climate action plan known as the<strong> European Green Deal.</strong></p>
<ul style="list-style-type: square;">
<li>The European Union is the <strong>third-largest emitter of greenhouse gases</strong> in the world after <strong>China</strong> and the <strong>United States.</strong></li>
</ul>
<h3>Major Decisions under Green Deal</h3>
<ul style="list-style-type: square;">
<li><strong>Achieving Climate Neutrality</strong><br />
<ul style="list-style-type: circle;">
<li>To become <strong>&ldquo;climate neutral&rdquo; by 2050</strong> and to achieve this, a law will be brought which will be binding on all member countries. A law will turn the political commitment into a legal obligation and will trigger the investments as well.</li>
<li>The <strong>EU is now the first major emitter</strong> to agree to the 2050 climate neutrality target laid down in the <a href="/to-the-points/paper3/cop24" target="_blank" rel="noopener"><strong>Paris Agreement.</strong></a><br />
<ul style="list-style-type: disc;">
<li><strong>Climate neutrality</strong> is achieved when a <strong>country&rsquo;s emissions are balanced by absorptions and removal of greenhouse gases</strong> from the atmosphere. It is also expressed as a state of net-zero emissions.</li>
<li><strong>Absorption</strong> can be increased by creating more carbon sinks like forests, while <strong>removal</strong> involves technologies like carbon capture and storage.</li>
</ul>
</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Note:</strong> Bhutan and Suriname are the only carbon neutral countries in the world.</p>
</div>
<ul style="list-style-type: square;">
<li><strong>Increasing 2030 Emission Reduction Targets</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Increase the reduction in its emissions to at least 50%</strong> and work towards 55% in the near future.<br />
<ul style="list-style-type: disc;">
<li>Earlier, the EU had committed to reduce its emissions by 40% by 2030 from 1990 levels under the Paris Agreement. This was already the most ambitious emission reduction targets among developed countries.</li>
<li>For example, USA had agreed to cut emissions by 26-28% by 2030 from 2005 levels but after withdrawing from the Paris Agreement, it is under no obligations now.</li>
<li>The EU is one of the major emitters to retain the 1990 baseline for emission cuts which were originally mandated under the <a href="/daily-updates/daily-news-editorials/how-markets-can-serve-climate" target="_blank" rel="noopener"><strong>Kyoto Protocol</strong></a> for all developed countries. Most other countries have shifted their baselines to 2005 or even later under the 2015 Paris Agreement.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Sectoral Plans:</strong> It <strong>includes sectoral plans</strong> to achieve these targets which include making the steel industry carbon-free by 2030, new strategies for transport and energy sectors, a revision of management of railway and shipping to make them more efficient and more stringent air pollution emission standards for vehicles.</li>
</ul>
<h3>Achievements</h3>
<ul style="list-style-type: square;">
<li>The EU has been <strong>doing better than other developed countries on reducing emissions.</strong></li>
<li>In terms of emission reductions, it probably is on track to meet the <strong>target of 20% by 2020,</strong> unlike any developed country outside the EU. <br />
<ul style="list-style-type: circle;">
<li>Canada reported a 4% reduction from 2005 levels. Japan reported an 8% reduction from the 2013 baseline.</li>
</ul>
</li>
</ul>
<h3>Concerns</h3>
<ul style="list-style-type: square;">
<li>The <strong>EU has not been fulfilling all its climate obligations</strong> because Kyoto Protocol requires rich and developed countries to provide finance and technology to developing countries to help them fight climate change. EU is <strong>helping very less, especially for adaptation needs of developing countries.</strong><br />
<ul style="list-style-type: circle;">
<li>This is the main reason why developing countries like India and China, have been repeatedly raising the issue of unfulfilled obligations of developed countries.</li>
</ul>
</li>
<li>The Green Deal is <strong>inadequate</strong> for achieving the emission reductions because big emitters and large developing countries like China and India are not immediately scaling up their climate actions. Withdrawal of the USA has also negatively impacted the step towards climate change mitigation.</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li>Other countries need to raise their ambitions and the reduction targets and their policies should be in line with the global environmental agreements.</li>
<li>EU should be more helpful towards developing nations so that its efforts do not get wasted and every nation is equally contributing towards conservation of the planet.</li>
</ul>
<p><a href="https://indianexpress.com/article/explained/explained-why-eu-green-deal-matters-6177509/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/eu-green-deal'
		],
		(int) 4 => [
			'title' => 'CST-100 Starliner',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p><strong>CST-100 Starliner</strong> is a space capsule of&nbsp;<strong>National Aeronautics and Space Administration (NASA)</strong> which failed its first test flight. Its objective was to <strong>ferry astronauts to the International Space Station (ISS).</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>The capsule <strong>CST-100 Starliner</strong> was built by <strong>Boieng.</strong></li>
<li><a href="/important-institutions/drishti-specials-important-institutions-international-institution/national-aeronautics-and-space-administration-nasa" target="_blank" rel="noopener"><strong>National Aeronautics and Space Administration (NASA)</strong></a> relies on Russia to get its astronauts on the space station.This failure is likely to <strong>push back</strong> further <strong>NASA&rsquo;s attempt at resuming human spaceflight</strong> from the United States.</li>
<li><strong>NASA</strong> has <strong>contracts</strong> with <strong>Boeing and SpaceX</strong> to build spacecraft to ferry astronauts to and from the ISS.<br />
<ul style="list-style-type: circle;">
<li>SpaceX&rsquo;s <strong>Crew Dragon</strong> capsule is scheduled to launch in 2020. It will be a crewless flight, and if it succeeds, SpaceX could be in a position to send astronauts into space.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>International Space Station</strong></p>
<ul style="list-style-type: square;">
<li>The International Space Station (ISS) is a habitable artificial satellite - the single <strong>largest man-made structure in low earth orbit.</strong></li>
<li>It circles the Earth in roughly <strong>92 minutes</strong> and completes <strong>15.5 orbits per day.</strong></li>
<li>The ISS programme is a <strong>joint project</strong> between five participating space agencies: <strong>NASA (United States), Roscosmos (Russia), JAXA (Japan), ESA (Europe), and CSA (Canada)</strong> but its ownership and use has been established by intergovernmental treaties and agreements.</li>
<li>Its first component was launched into orbit in <strong>1998</strong> and its development and assembly still continues.</li>
<li>It serves as a microgravity and space environment research laboratory in which crew members conduct experiments in biology, human biology, physics, astronomy, meteorology, and other fields.</li>
<li>Continuous presence at ISS has resulted into the longest continuous human presence in the low earth orbit.</li>
<li>It is expected to operate until 2030.</li>
</ul>
</div>
<p><a href="https://indianexpress.com/article/explained/blow-to-nasa-iss-mission-what-happened-6177521/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/cst-100-starliner'
		],
		(int) 5 => [
			'title' => 'Afghanistan First Country to Recognise Indian Pharmacopoeia',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>The <strong>Islamic Republic of Afghanistan</strong> has <strong>formally recognised</strong> the <strong>Indian Pharmacopoeia (IP)</strong>.</p>
<ul style="list-style-type: square;">
<li>It is a reputable book of standards for drugs. Now it will be used in Afghanistan to ensure quality of health products.</li>
</ul>
<h3>Indian Pharmacopoeia</h3>
<ul style="list-style-type: square;">
<li>It is an officially recognized book of standards as per the <strong>Drugs and Cosmetics Act, 1940</strong> and <strong>Rules 1945</strong> thereunder.</li>
<li>As per the <strong>Second Schedule of the Drugs and Cosmetics Act,</strong> IP is designated as the <strong>official book of standards for drugs imported and/or manufactured for sale, stock or exhibition for sale or distribution in India.</strong><br />
<ul style="list-style-type: circle;">
<li>It specifies the <strong>standards of drugs manufactured and marketed in India</strong> in terms of their<strong> identity, purity and strength.</strong></li>
</ul>
</li>
<li>Standards prescribed in the IP are authoritative in nature and are enforced by the regulatory authorities for quality control of medicines in India.</li>
<li>It is being <strong>published</strong> as an official document for improving quality of medicines by way of adding new and updating existing monographs by the<strong> Indian Pharmacopoeia Commission.</strong></li>
</ul>
<h3>Indian Pharmacopoeia Commission</h3>
<ul style="list-style-type: square;">
<li>It is an<strong> autonomous institution</strong> under the <strong>Ministry of Health and Family Welfare</strong> which is responsible to set standards of drugs in the country.</li>
<li>It <strong>promotes public and animal health in India</strong> by bringing out authoritative and officially accepted standards for quality of drugs including active pharmaceutical ingredients, excipients and dosage forms, used by health professionals, patients and consumers.</li>
<li>It also develops <strong>IP Reference Substances (IPRS)</strong> that act as fingerprints for identification of an article under test and its purity as prescribed in the IP monographs.</li>
</ul>
<div class="border-bg">
<p><strong>The Drugs and Cosmetics Act, 1940</strong></p>
<ul style="list-style-type: square;">
<li>It is an <strong>act of Parliament</strong> which regulates the import, manufacturing and distribution of drugs in India.</li>
<li>Its <strong>objective</strong> is to ensure that the drugs and cosmetics sold in India are safe, effective and fulfils the safety standards and parameters.</li>
</ul>
</div>
<p><a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1597016" target="_blank" rel="noopener"><strong>Source: PIB</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/afghanistan-first-country-to-recognise-indian-pharmacopoeia'
		],
		(int) 6 => [
			'title' => 'Apache Helicopters for Indian Army',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>The deal for<strong> six AH-64E Apache attack helicopters</strong> for the <strong>Indian Army</strong> is to be signed.</p>
<ul style="list-style-type: square;">
<li>Currently, the Army Aviation Corps operates only smaller <strong>Cheetah and ALH (Advanced Light Helicopters)</strong> that weigh <strong>less than five tonnes.</strong></li>
<li>These are in addition to 22 Apaches being inducted by the<strong> Indian Air Force (IAF)</strong> which will <strong>replace</strong> the <strong>Russian Mi-35</strong> attack helicopters in service.</li>
</ul>
<h3>AH-64E Apache Attack Helicopter<a href="http://www.drishtiias.com/images/uploads/1576913202_image3.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576913202_image3.jpg" style="float: right;" caption="false" width="300" height="200" /></a></h3>
<ul style="list-style-type: square;">
<li>Better known as an attack helicopter are received from the <strong>Boeing production</strong> facility in <strong>Mesa, Arizona, USA.</strong></li>
<li>These are all-weather capable, easily maintainable and have high agility and survivability against battle damage.</li>
<li>The <strong>capabilities</strong> of the AH-64E Apache Attack Helicopter includes:<br />
<ul style="list-style-type: circle;">
<li>It can carry out precision attacks at standoff ranges and operate in hostile airspace with threats from the ground.</li>
<li>It can transmit and receive battlefield picture through data uplinking and networking.</li>
<li>It can also shoot fire and forget anti-tank guided missiles, air to air missiles, rockets while providing versatility to helicopter in network-centric aerial warfare.</li>
<li>It also carries fire control radar, which has a 360&deg; coverage and nose-mounted sensor suite for target acquisition and night vision systems.</li>
</ul>
</li>
<li>The addition of the Apache Attack Helicopter is a significant step towards modernisation of Indian Air Force helicopter fleet and the Indian Army.</li>
</ul>
<h3>Cheetah Helicopters<a href="http://www.drishtiias.com/images/uploads/1576913240_image1.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576913240_image1.jpg" style="float: right;" caption="false" width="300" /></a></h3>
<ul style="list-style-type: square;">
<li>The Cheetah Helicopter is a <strong>high-performance</strong> helicopter designed by <a href="/loksabha-rajyasabha-discussions/the-big-picture-need-to-modernise-indian-air-force" target="_blank" rel="noopener"><strong>Hindustan Aeronautics Limited (HAL).</strong></a></li>
<li>It is <strong>identical to LAMA SA 315B</strong> Helicopter of Eurocopter, <strong>France.</strong></li>
<li>It is a five-seater multi-role, multi-purpose, highly manoeuvrable helicopter.</li>
<li>It holds the <strong>world record in high altitude flying</strong> among all categories of Helicopters.</li>
<li>The helicopter is suitable for commuting, observation, surveillance, logistics support, rescue operations and high altitude missions.</li>
</ul>
<h3>Advanced Light Helicopter (ALH-DHRUV)<a href="http://www.drishtiias.com/images/uploads/1576913274_image2.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576913274_image2.jpg" style="float: right;" caption="false" width="300" /></a></h3>
<ul style="list-style-type: square;">
<li>The indigenously designed and developed Advanced Light Helicopter (ALH-DHRUV) is a <strong>twin-engine,</strong> multi-role, multi-mission new generation helicopter in the <strong>5.5-ton weight class.</strong></li>
<li>The major variants of Dhruv are classified as Dhruv Mk-I, Mk-II, Mk-III &amp; Mk-IV.</li>
</ul>
<p><a href="https://www.thehindu.com/news/national/army-to-sign-deal-for-six-apache-attack-helicopters/article30361497.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/apache-helicopters-for-indian-army'
		],
		(int) 7 => [
			'title' => 'Indo – US 2+2 Dialogue ',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>India and the US have recently concluded <strong>second</strong> <strong>2+2 ministerial dialogue</strong> in <strong>Washington.&nbsp;</strong>Several landmark agreements in both <strong>defence and Civilian sectors</strong> were signed.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Industrial Security Annex (ISA)</strong>
<ul style="list-style-type: circle;">
<li>ISA to the <a href="/daily-updates/daily-news-analysis/india-us-2-plus-2-talks" target="_blank" rel="noopener"><strong>General Security Of Military Information Agreement (GSOMIA)</strong></a> will provide a framework for exchange and protection of <strong>classified</strong> military information <strong>between the U.S. and Indian defence industries.</strong></li>
<li>Currently, under GSOMIA, such information is exchanged between the Government authorities of the two countries but not between <strong>private parties.</strong></li>
<li>This will further promote <strong>&ldquo;Make in India&rdquo;</strong> in the defence sector.
<ul style="list-style-type: disc;">
<li>In accordance with the budget announcement (2018-19), the government has already decided to set up <strong>two Defence Industrial Corridors</strong> in the country, <strong>one in Uttar Pradesh and another in Tamil Nadu.</strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Peacekeeping for Indo-Pacific</strong><br />
<ul style="list-style-type: circle;">
<li>Cooperation in <strong>capacity-building</strong> of UN peacekeepers from Indo-Pacific countries, based on demands from the countries concerned.</li>
<li>Counter-terrorism efforts were also discussed including dangers of of cross border terrorism.</li>
</ul>
</li>
<li><strong>Tiger Triumph Exercise</strong><br />
<ul style="list-style-type: circle;">
<li>To hold the <a href="/daily-updates/daily-news-analysis/tiger-triumph" target="_blank" rel="noopener"><strong>India-U.S. joint tri-services &lsquo;Tiger Triumph&rsquo;</strong></a> on an <strong>annual</strong> basis.</li>
<li><strong>The first edition</strong> was held in <strong>November 2019</strong> as a Humanitarian Assistance and Disaster Relief <strong>(HADR)&nbsp;</strong>exercise.</li>
</ul>
</li>
<li><strong>Coalition for Disaster Resilient Infrastructure (CDRI)</strong><br />
<ul style="list-style-type: circle;">
<li>The <a href="/daily-updates/daily-news-analysis/international-coalition-for-disaster-resilient-infrastructure" target="_blank" rel="noopener"><strong>CDRI</strong></a> was launched at the <a href="/to-the-points/paper3/un-climate-action-summit-2019" target="_blank" rel="noopener"><strong>UN Climate Action Summit</strong></a> in <strong>New York, USA</strong> in September 2019. It is<strong> headquartered in New Delhi, India.</strong></li>
<li>The US is now part of it.</li>
</ul>
</li>
<li><strong>Water Resource Management</strong><br />
<ul style="list-style-type: circle;">
<li>Memorandum of understanding (MoU) was signed between Ministry of <strong>Jal Shakti</strong> and the <strong>U.S. Geological Survey</strong> to promote <strong>technical cooperation</strong> in water resources management and water technology.</li>
</ul>
</li>
<li><strong>Space Situational Awareness (SSA)</strong> <br />
<ul style="list-style-type: circle;">
<li>Cooperation for <strong>exchange</strong> of information including <strong>space debris and space traffic management.</strong></li>
<li>It ensures <strong>navigational safety of our space assets.</strong></li>
</ul>
</li>
<li><strong>Young Innovators Internship Programme (YIIP)</strong><br />
<ul style="list-style-type: circle;">
<li>Create <strong>internship</strong> opportunities in <strong>key areas of science and economy.</strong></li>
<li>New opportunities for<strong> young entrepreneurs.</strong></li>
</ul>
</li>
<li><strong>Parliamentary Exchange and Judicial cooperation</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Reciprocal visits</strong> by Parliamentarians from both countries.</li>
<li>The U.S. Federal Judicial Center and <strong>India&rsquo;s National Judicial Academy in Bhopal</strong> to cooperate in the area of <strong>counter-terrorism jurisprudence</strong> to <strong>new</strong> areas of<strong> criminal jurisprudence</strong> including<strong> money laundering, drug trafficking</strong> etc.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>&lsquo;2+2&rsquo; Dialogue</strong></p>
<ul style="list-style-type: square;">
<li>It is a format of dialogue where the <strong>defense and foreign ministers or secretaries</strong> meet with their counterparts from another country. 2+2 Ministerial is the highest-level institutional mechanism between the two countries.</li>
<li>India holds such talks with <strong>Australia,</strong> at the foreign secretary and defense secretary level but with<a href="/loksabha-rajyasabha-discussions/the-big-picture-india-japan-2-2" target="_blank" rel="noopener"><strong> Japan</strong> </a>and the <strong>US</strong> at the <strong>ministerial level.</strong></li>
<li>With the US this was the<strong> second 2+2 meeting (Washington),</strong> first was held in New Delhi in September 2018.</li>
<li>US holds such ministerial dialogues with <strong>Australia and Japan</strong> also.</li>
</ul>
</div>
<p><a href="https://www.thehindu.com/news/national/defence-ties-with-us-set-to-deepen-rajnath-singh/article30344918.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/indo-us-2-2-dialogue'
		],
		(int) 8 => [
			'title' => 'Society of Biotechnology of India',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>Recently, the<strong> Society of Biotechnology of India (SBPI)</strong> was launched by former biotechnologists and technocrats of the <strong>Union Department of Biotechnology, Ministry of Science and Technology.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>It is a <strong>non-profit organisation.</strong></li>
<li>It would <strong>promote transformation changes</strong> and approaches towards<strong> core research in modern biotechnology</strong> so that the outcome could lead to more products and technologies for economic and social gain.</li>
<li>It would complement India's efforts towards <strong>enhancing research funding of &ldquo;gap areas&rdquo;</strong> in infrastructure, human resources, regulatory frameworks and converting research and development leads into applications.</li>
<li><strong>Members</strong> of the SBPI have experience in promoting biotechnology in areas such as <a href="/daily-updates/daily-news-editorials/bt-cotton-in-india-problems-and-solutions" target="_blank" rel="noopener"><strong>BT cotton</strong></a>, introduction of recombinant therapeutic proteins and vaccines and fostering international collaborations.</li>
</ul>
<div class="border-bg">
<p><strong>Recombinant Therapeutic Proteins</strong></p>
<ul style="list-style-type: square;">
<li>These are <strong>produced from recombinant DNA</strong> using<strong> biomolecular engineering,</strong> which involves inserting the gene encoding of a protein into expression systems such as bacteria, yeast or mammalian cells cultures.</li>
<li>Recombinant therapeutic proteins have gained importance for clinical applications and they have replaced the original animal-derived version used in medicine.</li>
<li>Therapeutic proteins are quite <strong>diverse in the application treatments</strong> such as human insulin for diabetes, erythropoietin for anemia and chronic renal failure, vaccines for Hepatitis B etc.</li>
</ul>
</div>
<p><a href="https://www.thehindu.com/news/cities/Delhi/society-of-biotechnology-of-india-launched/article30362739.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/society-of-biotechnology-of-india'
		],
		(int) 9 => [
			'title' => 'Slowdown in India: Part 1',
			'catname' => 'News Editorials',
			'desc' => '<div class="border">
<p>This article is based on<a href="https://indianexpress.com/article/explained/indian-economy-lose-growth-momentum-four-balance-sheet-challenge-6171838/" target="_blank" rel="noopener"><strong> &ldquo;How and why the Indian economy is losing its growth momentum&rdquo;</strong></a> which was published in The Indian Express on 18/12/2019. It talks about the reasons for the current slowdown in the Indian economy.</p>
</div>
<p>The recent collapse of India&rsquo;s economic growth momentum is nothing short of a mystery. This is because until just a few years ago (until March 2017) the Indian economy was not only growing at a progressively rapid pace but was also the fastest-growing major economy in the world.</p>
<p>In order to scrutinise what led to the slowdown in India, there is a need to analyse four drivers that determine a country&rsquo;s GDP.</p>
<h3>GDP can be stated as a sum of four factors, i.e. GDP = C + G + I + (NX).</h3>
<ul style="list-style-type: square;">
<li>The total expenditure (demand) by private individuals (represented by C).</li>
<li>The total expenditure (demand) by the Government (represented by G).</li>
<li>The total expenditure (demand) on investments made by businesses in the country (represented by I).</li>
<li>The net effect of imports and exports (represented by NX).</li>
<li>A country&rsquo;s GDP can grow by one or all of these factors.</li>
</ul>
<p>The whole story of India&rsquo;s economic rise and slowdown can be explained by looking at how each of these variables performed over the past decade.</p>
<h3>The fast growth of the Indian economy even after the Global Financial Crisis (GFC) of 2009 can be attributed to various factors:</h3>
<ul style="list-style-type: square;">
<li>The Indian economy appears to have largely avoided the GFC as the GDP growth rate dipped in 2009 but it was soon back up to 9% - 10% in the succeeding years (2010 and 2011).</li>
<li>Between 2009 and 2013, companies were in no position to invest and India&rsquo;s exports were reduced because of a decline in global demand.<br />
<ul style="list-style-type: circle;">
<li>So, the &ldquo;I&rdquo; and &ldquo;NX&rdquo; component of the above equation became weak.</li>
</ul>
</li>
<li>However, <strong>robust demand from the other two components</strong> &ndash; C and G, buoyed up the economy during this phase.<br />
<ul style="list-style-type: circle;">
<li>During 2015 and 2016, <strong>international crude oil prices fell to a third</strong> of what they were in 2014.</li>
<li>This essentially meant that <strong>Indians could spend more</strong> and the &ldquo;C&rdquo; component of the equation boosted the GDP.</li>
<li>This gave a <strong>1-1.5 % boost to India's GDP.</strong></li>
</ul>
</li>
<li>In 2017 world demand increased accompanied by a<strong> real depreciation of the rupee,</strong> amounting to about <strong>13% in real effective terms</strong> by late 2018.<br />
<ul style="list-style-type: circle;">
<li>As a result, non-oil export growth rose from -<strong>8.6 % in 2015-16 to 8.9 % in 2017-18.</strong></li>
<li>Therefore, the &ldquo;NX&rdquo; component helped bump up the GDP growth.</li>
</ul>
</li>
<li>Moreover, the GDP growth boosted by<strong> increased government spending</strong> (the &ldquo;G&rdquo; component) on many social sectors schemes.</li>
<li>India&rsquo;s growth was boosted by a <strong>lending spree provided by <a href="/daily-updates/daily-news-editorials/shadow-banking-and-the-crisis-in-the-indian-economy" target="_blank" rel="noopener">non-banking financial companies (NBFCs)</a> like IL&amp;FS and DHFL.</strong><br />
<ul style="list-style-type: circle;">
<li>NBFCs took over the <strong>leading role of lending to the economy</strong> because banks were still struggling with NPAs and were largely unwilling to lend directly to businesses.</li>
<li>The credit provided by NBFCs fuelled both private consumption (C) and business investment (I), and through this route fuelled GDP growth.</li>
</ul>
</li>
</ul>
<h3>What derailed the Indian economy after 2017?</h3>
<ul style="list-style-type: square;">
<li><strong>Former Chief Economic Advisor, Arvind Subramanian</strong>, argued that the Indian economy is facing both structural and cyclical challenges.<br />
<ul style="list-style-type: circle;">
<li><strong>Structural challenges:</strong> Long-term issues related to the overall framework of the economy such as the flexibility or inflexibility of labour laws etc.</li>
<li><strong>Cyclical challenges:</strong> Short-term issues such as a bad monsoon that disrupts the production of food articles etc.</li>
<li>Since the causes are both structural and cyclical, arresting this economic slowdown is proving to be so difficult.</li>
<li>The <strong>measures that would have alleviated a cyclical slowdown fall flat because structural reasons</strong> are also involved.</li>
</ul>
</li>
<li>He also held that the <strong>unresolved Twin-Balance Sheet (TBS) Problem</strong> accompanied by the <strong>fall of NBFCs</strong> and the <strong>real estate sector,</strong> together make for the <strong>Four Balance Sheet Challenge</strong> of the Indian economy (i.e Banks, Corporates, NBFC, Real estate).<br />
<ul style="list-style-type: circle;">
<li>This four balance sheet<strong> challenge suppressed the I component in the country.</strong></li>
</ul>
</li>
<li><strong>Four Balance Sheet Challenge</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Twin-Balance Sheet problem</strong><br />
<ul style="list-style-type: disc;">
<li>Economic Survey of 2017-18 noted that the economy was facing a TBS problem.</li>
<li>The two balance sheets it referred to belonged to the<strong> Indian banks</strong> (especially public sector banks or the government-owned banks) and the <strong>corporate sector,</strong> respectively.<br />
<ul style="list-style-type: disc;">
<li>Balance sheets of Indian banks were burdened by a <strong>high proportion of non-performing loans</strong> and the balance sheet of corporates were<strong> clogged because they had over-borrowed</strong> and were unable to pay.</li>
<li>The origins of India&rsquo;s TBS can be traced to the economic boom that happened between 2005 and 2009 (the period when the Indian economy was growing at near double-digit growth rates).</li>
<li>The banks, especially the government-owned ones, ignored prudential norms and lent a lot of money to companies in the hope that this would help boost economic growth.</li>
<li>Companies borrowed heavily in the hope of making profits in the future.</li>
<li>However, the economic prospects collapsed quite sharply after the Global Financial Crisis of 2009 and a high proportion of companies found that their projects were no longer viable.</li>
</ul>
</li>
<li>The end result was that the companies were left with huge loans that they could not pay back in time and the banks were left with huge loans that had turned into NPAs.</li>
</ul>
</li>
<li><a href="/loksabha-rajyasabha-discussions/the-big-picture-what-ails-nbfcs" target="_blank" rel="noopener"><strong>IL&amp;FS crisis</strong> </a>was a setback for the <strong>whole NBFC sector.</strong> With Rs 90,000 crores of debt, its failure sent shockwaves throughout the financial system.</li>
<li><strong>The real estate sector also suffered as</strong> builders launched numerous projects since the start of the mid-2000s in the hope that these flats would be sold up eagerly.<br />
<ul style="list-style-type: disc;">
<li>However, after the Global Financial Crisis, the demand for flats, as well as bank funding for builders, collapsed.</li>
<li>By June-end 2019, the real estate sector reached a breaking point with close to 10 lakh unsold units (as against an annual demand of just 2 lakh units) in just the top 8 cities in the country.</li>
<li>The real estate sector was unable to pay back to the NBFCs, which, in turn, started defaulting.</li>
</ul>
</li>
</ul>
</li>
<li>The trade component (NX) was weak because the global demand for India&rsquo;s goods was down.</li>
<li><strong>Consumption (C component) which has been the major driver</strong> of growth in the Indian economy is facing a slowdown due to<a href="/daily-updates/daily-news-editorials/consumption-conundrum-of-indian-economy" target="_blank" rel="noopener"><strong> Income stagnation in India.</strong></a></li>
</ul>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr style="height: 54px;">
<td style="width: 100%; height: 54px; border-style: dotted; border-color: #ff0000; background-color: #faffd1;"><span style="color: #000080;"><em><strong>Drishti Mains Question</strong></em></span><br /><br />Discuss the factors responsible for the current slowdown of the Indian economy.</td>
</tr>
</tbody>
</table>
<p><strong>Note:</strong>&nbsp;<em>Kindly follow the subsequent part of this article in the second part of &ldquo;Slowdown in India&rdquo;.</em></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-editorials/slowdown-in-india-part-1'
		],
		(int) 10 => [
			'title' => '2019 Pollution and Health Metrics: Global, Regional and Country Analysis Report',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>The <strong>2019 Pollution and Health Metrics: Global, Regional and Country Analysis report</strong> from the <strong>Global Alliance on Health and Pollution (GAHP)</strong> provides a ranking of pollution deaths on global, regional and country levels.</p>
<ul style="list-style-type: square;">
<li>In 2017, pollution was responsible for 15% of all deaths globally and 275 million Disability-Adjusted Life Years.</li>
<li>The report includes <strong>three lists</strong> on pollution-induced deaths. <strong>India is the only country that features in the top 10 in all three lists.</strong><br />
<ul style="list-style-type: circle;">
<li>India saw the most pollution deaths of about 2.3 million.</li>
</ul>
</li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1576840739_Untitled-1.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576840739_Untitled-1.jpg" width="680" height="256" style="display: block; margin-left: auto; margin-right: auto;" caption="false" /></a></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>The top 10 countries with the <strong>most pollution deaths</strong> include both the world&rsquo;s largest and wealthiest nations and some of the poorer ones.</li>
<li>In the list of top 10 countries with the <strong>most pollution-related deaths in proportion to their population,</strong> there are many <strong>smaller countries</strong> where the impact of pollution in relation to population size is <strong>more intense.</strong></li>
<li>The list of top 10 countries with the<strong> most deaths related to air pollution corresponds closely</strong> to the list of top 10 countries <strong>with the most pollution-related deaths.</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Air pollution, </strong>both <strong>ambient and indoor, </strong>is<strong> one of the largest and most obvious types of pollution affecting global health.</strong></li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Global Alliance on Health and Pollution</strong></p>
<ul style="list-style-type: square;">
<li>It is a <strong>collaborative body</strong> made up of more than 60 members and dozens of observers.</li>
<li>Few prominent members are <strong>Pure Earth</strong> (non-profit organisation), <a href="/important-institutions/drishti-specials-important-institutions-international-institution/world-bank-group" target="_blank" rel="noopener"><strong>World Bank</strong></a>, <a href="/important-institutions/drishti-specials-important-institutions-international-institution/united-nations-1" target="_blank" rel="noopener"><strong>United Nations Environment Programme</strong></a> (UNEP), <a href="/daily-updates/daily-news-analysis/solar-thermal-energy-technology" target="_blank" rel="noopener"><strong>United Nations Industrial Development Organization</strong></a> (UNIDO), <a href="/daily-updates/daily-news-analysis/asian-development-outlook-2019-strengthening-disaster-resilience-adb" target="_blank" rel="noopener"><strong>Asian Development Bank</strong></a> (ADB), the <a href="/important-institutions/drishti-specials-important-institutions-international-institution/european-union" target="_blank" rel="noopener"><strong>European Commission</strong></a>, the Ministries of Environment and Health of many low and middle-income countries etc.</li>
<li>Its <strong>goal is to reduce death and illness</strong> caused by all forms of toxic pollution, including air, water, soil and chemical wastes especially in low and middle-income countries.</li>
</ul>
</div>
<p><a href="https://indianexpress.com/article/explained/telling-numbers-india-had-most-deaths-caused-by-pollution-in-2017-new-report/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/2019-pollution-and-health-metrics-global-regional-and-country-analysis-report'
		],
		(int) 11 => [
			'title' => 'National Company Law Appellate Tribunal (NCLAT) ',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>The <strong>National Company Law Appellate Tribunal (NCLAT)</strong> has held that the <strong>removal of Cyrus Pallonji Mistry</strong> from the <strong>post of Executive Chairman</strong> of Tata Sons in 2016 was <strong>illegal.</strong></p>
<ul style="list-style-type: square;">
<li>The Tribunal has set aside a July 2017 order by the Mumbai bench of the <a href="/daily-updates/daily-news-analysis/important-fact-for-prelims-4th-march-2019-" target="_blank" rel="noopener"><strong>National Company Law Tribunal (NCLT)</strong></a>, which had upheld Mistry&rsquo;s removal from his position.</li>
<li>The NCLAT also declared the conversion of the &lsquo;Tata Sons Limited&rsquo; <strong>from &lsquo;Public Company&rsquo; to &lsquo;Private Company&rsquo;</strong> by Registrar of Companies <strong>illegal.</strong> It remarked that the decision to convert the company to private was &lsquo;prejudicial&rsquo; and &lsquo;oppressive&rsquo; to the minority shareholders.</li>
<li>In general, this decision by NCLAT will <strong>empower the minority shareholders,</strong> and will force Independent Directors to take their objections more seriously. <br />
<ul style="list-style-type: circle;">
<li>The Code for<strong> Independent Directors,</strong> which is part of the Companies Act, 2013, says that one of their functions is to <strong>&ldquo;safeguard the interests of all stakeholders, particularly the minority shareholders&rdquo;.</strong></li>
</ul>
</li>
</ul>
<h3>National Company Law Appellate Tribunal</h3>
<ul style="list-style-type: square;">
<li>The NCLAT was constituted under <strong>Section 410 of the Companies Act, 2013</strong> to hear appeals against the <strong>orders of the National Company Law Tribunal (NCLT).</strong> <br />
<ul style="list-style-type: circle;">
<li>NCLT is a quasi-judicial body that adjudicates issues relating to companies.</li>
</ul>
</li>
<li>It is also the appellate tribunal for orders passed by the <strong>NCLT(s) under Section 61 of the <a href="/daily-updates/daily-news-analysis/essar-insolvency-case" target="_blank" rel="noopener">Insolvency and Bankruptcy Code (IBC)</a>, 2016,</strong> and for orders passed by the <strong>Insolvency and Bankruptcy Board of India (IBBI) under Sections 202 and 211 of the IBC.</strong></li>
<li>Any person aggrieved by any order of the NCLAT may file an <strong>appeal to the Supreme Court.</strong></li>
</ul>
<div class="border-bg">
<p><strong>Note</strong></p>
<ul style="list-style-type: square;">
<li><strong>Minority shareholders:</strong> They are the equity holders of a firm who does not enjoy the voting power of the firm by virtue of his or her below 50% ownership of the firm&rsquo;s equity capital.</li>
<li><strong>Independent Director: An independent director</strong> is a non-executive director of a company who helps the company in improving corporate credibility and governance standards. He/ She does not have any kind of relationship with the company that may affect the independence of his/her judgment.</li>
<li><strong>Public and Private Companies</strong><br />
<ul style="list-style-type: circle;">
<li>Under the Companies Act, 2013, a company may be formed for any lawful purpose by&mdash;<br />
<ul style="list-style-type: disc;">
<li>Seven or more persons, where the company to be formed is to be a public company;</li>
<li>Two or more persons (limited to 200), where the company to be formed is to be a private company;</li>
<li>One person, where the company to be formed is to be One Person Company (a private company).</li>
</ul>
</li>
<li><strong>Suffix after the Name of the Company:</strong> &lsquo;Limited&rsquo; in the case of a public limited company and &lsquo;Private Limited&rsquo; in the case of a private limited company.</li>
</ul>
</li>
<li><strong>Registrars of Companies (ROC):</strong> These appointed under Section 609 of the Companies Act are vested with the primary duty of registering companies and Limited Liability Partnerships (LLPs) floated in the respective states and the Union Territories and ensuring that such companies and LLPs comply with statutory requirements under the Act.</li>
</ul>
</div>
<p><a href="https://indianexpress.com/article/explained/explained-key-takeaways-from-nclat-order-will-mistry-be-back-at-tata-hqs-6175674/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/national-company-law-appellate-tribunal-nclat-1'
		],
		(int) 12 => [
			'title' => 'Pinaka Missile System',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<ul style="list-style-type: square;">
<li>Recently, an <strong>updated version of Pinaka Missile System,</strong> named <strong>Pinaka Mark II</strong> rocket was successfully flight-tested from the Integrated Test Range, Chandipur, Odisha.</li>
</ul>
<h3>Key Points<a href="http://www.drishtiias.com/images/uploads/1576835517_Image2.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576835517_Image2.png" width="266" height="168" style="float: right;" caption="false" /></a></h3>
<ul style="list-style-type: square;">
<li>Pinaka is an <strong>indigenous multi-barrel rocket launch system,</strong> which has been developed by the <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/defence-research-and-development-organisation-drdo" target="_blank" rel="noopener"><strong>Defence Research and Development Organisation</strong></a> (DRDO) for the Indian Army.</li>
<li>Its weapon system has a state-of-the-art guidance kit bolstered by an advanced navigation and control system.<br />
<ul style="list-style-type: circle;">
<li>The <strong>Pinaka Mark II Rocket</strong> is modified as a missile by integrating with the navigation, control and guidance system to improve the accuracy and enhance the range.</li>
<li>The navigation system of the missile is aided by the <a href="/daily-updates/daily-news-analysis/navic" target="_blank" rel="noopener"><strong>Indian Regional Navigation Satellite System (IRNSS).</strong></a></li>
</ul>
</li>
<li>It is an artillery missile system capable of striking into enemy territory up to a range of 75 kilometres with high precision.<br />
<ul style="list-style-type: circle;">
<li>The initial version of weapon system was called <strong>Mark I,</strong> which had a range of <strong>40 km.</strong> The upgraded version or <strong>Pinaka Mark II</strong> has an extended range of <strong>70 to 80 km.</strong></li>
</ul>
</li>
<li>The mission achieved all the <strong>objectives</strong> including enhancing the range, accuracy and sub-system functionality.</li>
</ul>
<p><a href="https://pib.nic.in/PressReleasePage.aspx?PRID=1596959" target="_blank" rel="noopener"><strong>Source: PIB</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/pinaka-missile-system'
		],
		(int) 13 => [
			'title' => 'In Depth - Visual Positioning System',
			'catname' => 'Lok Sabha & Rajya Sabha Discussions',
			'desc' => '<p style="text-align: center;"><iframe width="560" height="315" src="https://www.youtube.com/embed/N3ynBR6HgIk" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe></p>
<p>Google has announced a revamped version of Maps that utilizes a complex<strong> visual positioning system (VPS)</strong> to offer improved navigation. VPS has been designed to overcome challenges of global positioning system (GPS) and is far more accurate.</p>
<h3>What is Virtual Positioning System (VPS)?</h3>
<p>VPS is the logical progression from a globally connected network, exhaustive data and new cloud storage accessibility. VPS is the blend of artificial intelligence (AI) image recognition technology and augmented reality technology, which combine symbols on the apps screen with real-life street images.</p>
<ul style="list-style-type: square;">
<li>It combines the live camera with Google&rsquo;s extensive back-end data in order to analyse the surrounding, which helps to identify the location of a user with greater accuracy.</li>
<li>It uses augmented reality to give additional information.</li>
<li>The technology was recently used in the Chandrayaan II mission.</li>
</ul>
<div class="border-bg">
<p><strong>Positioning System</strong></p>
<p>A positioning system is a tool to determine the location of an individual or object. The technology requires global coverage and sharp accuracy to achieve the exact location.</p>
<ul style="list-style-type: square;">
<li><strong>For Example:</strong> &lsquo;Google Maps&rsquo; is one of the positioning and navigation systems that helps individuals to find their exact location as well as a path to their destination. However, the system only offers a satellite view of the region under navigation.</li>
</ul>
<p><strong>Global Positioning System</strong></p>
<p>GPS is a <strong>satellite navigation system,</strong> used to determine the ground position of an object. It is a <strong>U.S.-owned utility</strong> that provides users with positioning, navigation, and timing (PNT) services.</p>
<ul style="list-style-type: square;">
<li>It is a network <strong>24 satellite</strong> which provides service to civilian and military users. The civilian service is freely available to all users on a continuous, worldwide basis. The military service is available to U.S. and allied armed forces as well as approved Government agencies.</li>
</ul>
</div>
<h3>How does it work?</h3>
<ul style="list-style-type: square;">
<li>Visual Positioning System allows the device to virtually localize surroundings in a map. It uses multiple images of the surrounding environment for creating a 3D environment.</li>
<li>The system compares the multiple-image of the environment taken by the phone&rsquo;s camera to recreate the position relative to the environment using triangulation techniques of GPS.</li>
<li>For using the technology, the user needs to tap a button to activate the visual view and just point the camera where he/she needs to go to see relevant information.
<ul style="list-style-type: circle;">
<li>Surrounding will be displayed with an overlay of Google map data.</li>
<li>There will be arrows pointing in the direction the user needs to go, with a small map at the bottom to remind you where you are headed.</li>
<li>The technology is capable of determining indoor and outdoor locations through ad-hoc visual markers. Distinguishing features such as signage, buildings, and walls are identified by scanning geolocated photos.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Virtual Reality</strong></p>
<p>Virtual Reality (VR) is the use of computer technology to create a simulated environment.</p>
<ul style="list-style-type: square;">
<li>Unlike traditional user interfaces, VR places the user inside an experience i.e instead of viewing a screen in front of them, users are immersed and able to interact with 3D worlds.</li>
<li>VR enables simulation of as many senses as possible, such as vision, hearing, touch, even smell.</li>
<li>In this, the user is completely immersed in an artificial world and cut-off from reality.</li>
</ul>
<p><strong>Augmented Reality</strong></p>
<p>Augmented Reality is the use of sensors and algorithms by computer to determine the position and orientation of a camera.</p>
<ul style="list-style-type: square;">
<li>Augmented reality is closer to the real world, it adds graphics, sounds and smell to the natural world as it exists.</li>
<li>The user can interact with the real world along with the virtual world.</li>
</ul>
</div>
<h3>Difference between VPS and GPS</h3>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr style="height: 19px;">
<td style="height: 19px; text-align: center; border-color: #4940ff; background-color: #5757ff; width: 100px; vertical-align: top;">
<p><span style="color: #ffffff;"><strong>Global Positioning System</strong></span></p>
</td>
<td style="height: 19px; text-align: center; border-color: #4940ff; background-color: #5757ff; width: 100px; vertical-align: top;">
<p><span style="color: #ffffff;"><strong>Virtual Positioning System</strong></span></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="height: 19px; border-color: #000000; background-color: #e3e7fc; width: 100px; vertical-align: top;">
<ul style="list-style-type: square;">
<li>GPS is based on time and the known position of GPS specialized satellites i.e distance-based technology.</li>
<li>GPS presents only a satellite view.</li>
<li>GPS faces the problem of drifting due to continuous change in the position of satellites, weak signals due to thick clouds and tall buildings.</li>
<li>GPS has a voice system to guide the user.</li>
</ul>
</td>
<td style="height: 19px; border-color: #000000; background-color: #e3e7fc; width: 100px; vertical-align: top;">
<ul style="list-style-type: square;">
<li>VPS combines a live camera view with Google data along with GPS.</li>
<li>VPS displays blown up 3-D directions like lit-up arrows and precise steps to figure out the exact location.</li>
<li>VPS addresses the problem of drifting by running its own copy of the operating system.</li>
<li>VPS uses animated characters to display nearby locations like banks, hotels etc to help users to identify the location easily.</li>
</ul>
</td>
</tr>
</tbody>
</table>
<h3>Benefits</h3>
<ul style="list-style-type: square;">
<li><strong>Business and Marketing:</strong> VPS allows businesses to fill the Google business profile through which customers can see relevant information about the business.
<ul style="list-style-type: circle;">
<li>It also allows businesses to take their customers to have a virtual visit to the store or product repository.</li>
</ul>
</li>
<li><strong>Logistics:</strong> VPS holds potential to dramatically revolutionize the logistics and transportation sector by enhancing navigational capabilities of robots, drones and driverless cars.</li>
<li><strong>Navigation:</strong> The technology can be a gamechanger in navigational experience in dense urban areas where GPS services are often distracted or blocked by skyscrapers.</li>
<li>It offers remarkable comfort and ease for travel from one spot to another by providing a live camera view with negligible dependency on others to get directions.</li>
</ul>
<h3>Conclusion</h3>
<p>Technologies like GPS and VPS are revolutionizing digital mapping that are of immense help in our daily life. Therefore, with such technological evolutions, the services offerings are expected to be more virtual, customized and augmented for each person.</p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/loksabha-rajyasabha-discussions/in-depth-visual-positioning-system'
		],
		(int) 14 => [
			'title' => 'ILP in Meghalaya',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>The <strong>Meghalaya Assembly</strong> has adopted a resolution for <strong>implementing the <a href="/daily-updates/daily-news-analysis/nagaland-extends-ilp-in-dimapur" target="_blank" rel="noopener">Inner Line Permit (ILP)</a></strong> regime in the state.</p>
<ul style="list-style-type: square;">
<li>The Government of Meghalaya will urge upon the centre to include Meghalaya in the preamble of the Bengal Eastern Frontier Regulations, 1873.</li>
</ul>
<h3>Background</h3>
<p>In November 2019, the Meghalaya Cabinet approved amendments to the <strong>Meghalaya Residents Safety and Security Act (MRSSA), 2016,</strong> which will lead to laws that require non-resident visitors to register themselves. This move came in the backdrop of demands for an ILP-like regime.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>The <strong>ILP is a special permit</strong> that is required by &ldquo;outsiders&rdquo; from other regions of India to<strong> enter the states of Arunachal Pradesh, Nagaland Mizoram</strong> and <strong>Manipur.</strong> The ILP, which can be received after applying either online or physically, states the dates of travel and also specifies the particular areas in the state which the ILP holder can travel to.</li>
<li>According to the <a href="/to-the-points/Paper2/citizenship-amendment-act-2019" target="_blank" rel="noopener"><strong>new citizenship law</strong></a>, the provisions on citizenship for illegal migrants will not apply to tribal areas of Assam, Meghalaya, Mizoram or Tripura as included in the Sixth Schedule to the Constitution and the area covered under &lsquo;The Inter Line&rsquo; notified under the Bengal Eastern Frontier Regulation, 1873.</li>
<li>It needs to be noted that Meghalaya may not have had an ILP regime but <strong>three Autonomous District Councils under Sixth Schedule cover practically the entire state.</strong></li>
</ul>
<div class="border-bg">
<p><strong>Note:</strong> Recently, thet ILP regime has been extended to Manipur after the President of India signed an order in this effect.</p>
</div>
<p><a href="https://indianexpress.com/article/north-east-india/meghalaya/meghalaya-assembly-adopts-resolution-on-inner-line-permit-6175818/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/ilp-in-meghalaya'
		],
		(int) 15 => [
			'title' => 'Sashastra Seema Bal',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>Recently, the<strong> 56<sup>th</sup> Raising Day Parade of Sashastra Seema Bal (SSB)</strong> was held in <strong>New Delhi.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>SSB comes under the aegis of the <strong>Ministry of Home Affairs</strong> and a part of the <a href="/daily-updates/daily-news-analysis/central-armed-police-force-capf" target="_blank" rel="noopener"><strong>Central Armed Police Forces</strong></a> <strong>(CAPF),</strong> along with <strong>six other central security forces in India</strong> (Assam Rifles, Border Security Force, Central Industrial Security Force, Central Reserve Police Force, Indo Tibetan Border Police and National Security Guard).</li>
<li>It was established as <strong>Special Service Bureau</strong> in <strong>May 1963,</strong> in the aftermath of the <strong>Chinese aggression in 1962.</strong></li>
<li>It was declared a <strong>lead intelligence agency for Indo Nepal</strong> in June 2001 and assigned the <strong>Indo Nepal border.</strong> In 2004, it was also assigned<strong> Indo Bhutan border.</strong></li>
<li>In<strong> 2004,</strong> SSB received the <strong>President&rsquo;s Colours</strong> in recognition of the keystone role in national security, since its inception.</li>
<li><strong>Responsibilities:</strong><br />
<ul style="list-style-type: circle;">
<li>To promote a sense of security among the people living in the border areas.</li>
<li>To prevent trans border crimes and unauthorized entry into or exit from Indian territory.</li>
<li>To prevent smuggling and other illegal activities on Indian frontiers.</li>
</ul>
</li>
<li>It is headquartered in <strong>New Delhi</strong> and three frontier headquarters are at <strong>Lucknow (UP), Patna (Bihar) and Guwahati (Assam).</strong></li>
<li>It is spread out on <strong>Indo Nepal and Indo Bhutan borders</strong> across the states of <strong>Uttarakhand, Uttar Pradesh, Bihar, West Bengal, Sikkim, Assam and Arunachal Pradesh.</strong></li>
</ul>
<div class="border-bg">
<p><strong>President's Colours</strong>: It is the highest honour bestowed upon a regiment in recognition of their contribution to the security of the nation.</p>
</div>
<p><a href="https://indianexpress.com/article/india/ssb-must-ensure-borders-with-friendly-nations-not-misused-amit-shah-6175703/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/sashastra-seema-bal'
		],
		(int) 16 => [
			'title' => 'Rhinos to be Re-introduced in Uttarakhand',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>Recently, the <strong>Uttarakhand State Wildlife Board</strong> has cleared a proposal by the<strong> Wildlife Institute of India (WII)</strong> to introduce rhinoceroses in the <strong>Corbett Tiger Reserve (CTR).</strong></p>
<ul style="list-style-type: square;">
<li>Around <strong>10 rhinos</strong> will be brought in CTR in the <strong>first phase</strong> and 10 more would be added subsequently. A proposal will be sent to the Center for transporting rhinos from either Assam or West Bengal or both.</li>
</ul>
<h3>Key Points</h3>
<p><strong>Reasons for Translocation</strong></p>
<ul style="list-style-type: square;">
<li>This has been done to <strong>boost tourism</strong> and <strong>revive the habitats of species that survive on low-height grass.</strong><br />
<ul style="list-style-type: circle;">
<li>Rhinos reduce the size of elephant grass by eating it which would encourage species thriving on lower-height grass like- Hog Deer, Cheetal, Sambar and Swamp Deer.</li>
</ul>
</li>
<li><strong>Geographical terrain and environmental conditions</strong> in CTR are suitable for rhinos.<br />
<ul style="list-style-type: circle;">
<li>Valley habitats bounded on either side by the lower Himalayas (north), Shivalik Hills (south) and the Ramganga Reservoir (east) are the ideal sites. They would act as natural barriers to rhino movement and will minimise <a href="/daily-updates/daily-news-analysis/man-animal-conflict-to-be-listed-as-disaster-by-up-govt" target="_blank" rel="noopener"><strong>man-animal conflict.</strong></a></li>
</ul>
</li>
<li>The rhino&rsquo;s range, <strong>once continuous</strong> across the<strong> flood plains of the Indus, Ganges and the Brahmaputra,</strong> now limited to small fragmented pockets in India and Nepal as a result of anthropogenic pressures and poaching, as per the WWI experts.<br />
<ul style="list-style-type: circle;">
<li>Re-introduction into habitats in the historic range would create safety-net populations for the species and also restore their ecological role in these faunally-degraded habitats.</li>
<li>Rhinos are poached because their <strong>horns are considered an aphrodisiac.</strong></li>
</ul>
</li>
<li>Every translocated animal would be fitted with a <strong>GPS radio-collar</strong> for monitoring their <strong>ranging patterns, foraging habits, demography and habitat use.</strong><br />
<ul style="list-style-type: circle;">
<li>The data will be shared with the Forest Department which would be responsible for the safety of these re-introduced rhinos.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Wildlife Institute of India</strong></p>
<ul style="list-style-type: square;">
<li>It is an autonomous institution under the <strong>Ministry of Environment, Forest and Climate Change.</strong></li>
<li>It was established in <strong>1982.</strong></li>
<li>It is based in <strong>Dehradun, Uttarakhand.</strong></li>
<li>It offers training programs, academic courses, and advisory in wildlife research and management.</li>
</ul>
<p><strong>Corbett Tiger Reserve</strong></p>
<ul style="list-style-type: square;">
<li>It is located in <strong>Nainital district of Uttarakhand.</strong></li>
<li>The <a href="/daily-updates/daily-news-analysis/status-of-conservation-of-tigers" target="_blank" rel="noopener"><strong>Project Tiger</strong></a> was launched in 1973 in <strong>Corbett National Park,</strong> which is part of Corbett Tiger Reserve.</li>
<li><strong>Ramganga, Sonanadi, Mandal, Palain and Kosi</strong> are the major rivers flowing through the Corbett National Park.</li>
<li>There are <strong>50 Tiger Reserves</strong> in India as of August, 2019.</li>
</ul>
</div>
<p><a href="https://indianexpress.com/article/india/bid-to-boost-tourism-rhinos-to-be-re-introduced-in-uttarakhand-6175867/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/rhinos-to-be-re-introduced-in-uttarakhand'
		],
		(int) 17 => [
			'title' => 'Operation Twist',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News</h3>
<p>The <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/important-institutions-national-institution-reserve-bank-of-india" target="_blank" rel="noopener"><strong>Reserve Bank of India</strong></a> has announced that it will carry out <strong>US-style 'Operation Twist'</strong> to bring down interest rates.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>RBI will conduct <strong>simultaneous purchase and sale of government</strong> securities under <strong>Open Market Operations (OMO)</strong> for ₹10,000 crore each.</li>
<li>It will purchase the longer-term maturities (i.e government bonds maturing in 2029), and simultaneously sell the shorter duration ones (i.e. short-term bonds maturing in 2020).</li>
<li>The eligible participants can bid or submit offers in electronic format on <a href="/daily-updates/daily-news-analysis/rbi-to-buy-g-secs" target="_blank" rel="noopener"><strong>RBI&rsquo;s Core Banking Solution (E-Kuber).</strong></a></li>
</ul>
<div class="border-bg">
<p><strong>&lsquo;Operation Twist&rsquo;</strong></p>
<ul style="list-style-type: square;">
<li>&lsquo;Operation Twist&rsquo; is when the<strong> central bank uses the proceeds from the sale of short-term securities to buy long-term government debt papers,</strong> leading to <strong>easing of interest rates on the long term papers.</strong></li>
<li>Operation Twist first appeared in 1961 as a way to strengthen the U.S. dollar and stimulate cash flow into the economy.</li>
<li>In June 2012, Operation Twist was so effective that the yield on the 10-year U.S. Treasury dropped to a 200-year low.</li>
</ul>
</div>
<h3>Open Market Operations</h3>
<ul style="list-style-type: square;">
<li>Open Market Operations (OMO) is one of the<a href="/daily-updates/daily-news-analysis/rbi-keeps-policy-rates-unchanged" target="_blank" rel="noopener"><strong> quantitative (to regulate or control the total volume of money) monetary policy tools</strong></a> which is employed by the central bank of a country to <strong>control the money supply in the economy.</strong></li>
<li>OMOs are conducted by the RBI by way of <strong>sale or purchase of government securities (g-secs)</strong> to adjust money supply conditions.</li>
<li>The central bank sells g-secs to remove liquidity from the system and buys back g-secs to infuse liquidity into the system.</li>
<li>These operations are often conducted on a <strong>day-to-day basis</strong> in a manner that balances inflation while helping banks continue to lend.</li>
<li>RBI carries out the OMO <strong>through commercial banks</strong> and <strong>does not directly deal</strong> with the public.</li>
<li>The RBI uses OMO along with other monetary policy tools such as repo rate, cash reserve ratio and statutory liquidity ratio to adjust the quantum and price of money in the system.</li>
</ul>
<h3>Benefits</h3>
<ul style="list-style-type: square;">
<li>This simultaneous purchase and sale will bring down interest on long term loans which can lead to<strong> increase in economic spending.</strong></li>
<li>OMOs are primarily done to maintain ample liquidity in the system, which reflects that the <a href="/daily-updates/daily-news-analysis/repo-rate-unchanged" target="_blank" rel="noopener"><strong>RBI is keen that banks should transmit lower rates to borrowers.</strong></a></li>
<li>The action of Operation Twist by the RBI is<strong> encouraging for the market.</strong> This step may become a <strong>driving factor for long-term economic activity</strong> and the addition of new investment stock.</li>
</ul>
<p><a href="https://www.thehindu.com/business/markets/rbi-to-conduct-operation-twist-to-manage-yields-on-dec-23/article30351441.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
			'postdate' => object(Cake\I18n\FrozenTime) {},
			'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/operation-twist'
		],
		(int) 18 => [
			'title' => 'Lessons from NPA Crisis',
			'catname' => 'News Editorials',
			'desc' => '<div class="border">
<p>This article is based on <a href="https://www.thehindubusinessline.com/opinion/some-key-lessons-from-the-npa-crisis/article30331406.ece" target="_blank" rel="noopener"><strong>&ldquo;Some key lessons from the NPA crisis&rdquo;</strong></a> which was published in The Hindu Business Line on 18/12/2019. It highlights the reasons for rising Non-Performing Assets (NPAs) and the lessons that regulators need to learn from it.</p>
</div>
<p>Despite the introduction of <strong>prudential norms</strong> and a<strong> stringent regulatory mechanism,</strong> the Indian banking system is still under continuous stress. According to the data from the <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/important-institutions-national-institution-reserve-bank-of-india" target="_blank" rel="noopener"><strong>Reserve Bank of India (RBI)</strong></a>, <strong>Non-Performing Assets</strong> (NPAs) for unrated loans has <a href="/daily-updates/daily-news-analysis/rising-npas-due-to-unrated-loans" target="_blank" rel="noopener"><strong>increased to 24% (2018) from about 6% (2015).</strong></a></p>
<h3>Problem of Rising NPA Ratio<a href="http://www.drishtiias.com/images/uploads/1576758554_Image3.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576758554_Image3.jpg" width="305" caption="false" style="float: right;" /></a></h3>
<ul style="list-style-type: square;">
<li><strong>Credit Boom:</strong> The problem of rising NPAs began since<strong> credit boom</strong> which the country witnessed during 2003-04.<br />
<ul style="list-style-type: circle;">
<li>Between 2003-04 and 2007-08, the outstanding <strong>non-food credit</strong> or the <strong>commercial credit</strong> expanded by three times, which during 2007-08 and 2011-12 got doubled.</li>
<li>It was a period during which the world as well as the Indian economy were booming. <strong>Indian firms borrowed furiously</strong> in order to avail the growth opportunities.</li>
<li>Credit booms are generally succeeded by stress in the banking system which actually happened in India. <br />
<ul style="list-style-type: disc;">
<li>The substantial flow of credit to <strong>infrastructure (power, roads, telecom), mining, aviation, iron and steel</strong> was important for growth but these were also subject to severe output fluctuations, which raised a huge burden on the banks. Also, large <strong>Chinese imports</strong> during that period affected the iron and steel industry.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Monetary Policy:</strong> The Reserve Bank of India also followed a <strong>tightened monetary policy</strong> at that time.<br />
<ul style="list-style-type: circle;">
<li>The <a href="/daily-updates/daily-news-analysis/repo-rate-unchanged" target="_blank" rel="noopener"><strong>Repo rate</strong></a> was<strong> increased</strong> from 6% (March 2004) to 9% (August 2008). Also, the <a href="/daily-updates/daily-news-analysis/rbi-keeps-policy-rates-unchanged" target="_blank" rel="noopener"><strong>Cash Reserve Ratio</strong> </a>was <strong>raised</strong> from 4.75% to 9%.</li>
<li>But even after tightening the norms, the <strong>credit expansion</strong> happened which ultimately led to rising NPAs.</li>
<li>However, during 2008, the repo rate and CRR were lowered substantially in response to the <strong>global financial crisis.</strong> There was a mild reversal of this step as was marked by a <strong>slowdown in real growth</strong> (between 2009 and 2012).</li>
</ul>
</li>
<li><strong>Role of NBFCs:</strong> In addition to that, the assets under management of <strong>mutual funds</strong> and credit extended by <a href="/daily-updates/daily-news-editorials/A%20nuanced%20understanding%20of%20the%20NBFC%20sector" target="_blank" rel="noopener"><strong>Non-Banking Financial Company (NBFCs)</strong></a> also expanded enormously during that period.</li>
<li><strong>Stalling Legislative &amp; Judicial Procedure:</strong> Court judgments had an adverse impact on mining, power and steel sectors. There were problems in <strong>acquiring land</strong> and getting<strong> environmental clearances</strong> because of which several <strong>projects got stalled</strong> and consequently, the project <strong>costs soared.</strong></li>
<li><strong>Regulatory Forbearance:</strong> Although there were some regulatory steps that were initiated like <strong>Asset Quality Review</strong> introduced in 2015 which tightened the situation to bring out greater transparency led to a doubling of the NPA ratio in one year. But, by that time, the banks were left with a huge problem with no immediate relief.</li>
<li><strong>Other reasons:</strong> <br />
<ul style="list-style-type: circle;">
<li>With the onset of the<strong> global financial crisis</strong> in 2007-08 and the <strong>slowdown</strong> in growth after 2011-12, <strong>revenues fell</strong> well short of forecasts. As a result,<strong> financing</strong> <strong>costs rose</strong> as policy rates were tightened in India in response to the crisis.</li>
<li>Further, the <strong>depreciation of the rupee</strong> meant higher outflows for companies that had borrowed in foreign currency.</li>
</ul>
</li>
<li>This combination of adverse factors made it difficult for companies to maintain and repay their loans to banks. <strong>Higher NPAs</strong> meant <strong>higher provisions on the part of banks</strong> which rose to a level where banks (especially PSBs) started making losses. Therefore, once NPAs happen, it is important to resolve them quickly, otherwise, the interest on dues causes them to rise relentlessly.</li>
</ul>
<h3>What needs to be done?</h3>
<p><strong>Reserve Bank of India</strong></p>
<ul style="list-style-type: square;">
<li>Regulatory design needs to <strong>quantify financial and business cycles</strong> and take appropriate remedial measures in time in the backdrop of challenges faced by the RBI on account of external factors like the global financial crisis (2008-09).<br />
<ul style="list-style-type: circle;">
<li><strong>As international</strong> experience shows, <strong>increase in compliance cost</strong> does not automatically translate to better regulation. The regulatory regime needs to pinpoint parameters that need special attention for good governance.</li>
</ul>
</li>
<li>Also, as<strong> RBI</strong> has the responsibility to <strong>monitor macro-prudential indicators</strong> (such as overall credit growth). This has implications when the<strong> RBI tightens or loosens monetary policy.</strong> <br />
<ul style="list-style-type: circle;">
<li>Therefore, RBI&rsquo;s concerns must be communicated to the government/owners within time limits, and made public so that informed decisions can be timely taken.</li>
</ul>
</li>
<li>Notwithstanding several measures taken by the RBI, including the 2016 guidelines, the <strong>performance</strong> of the <strong>resolution process</strong> has been <strong>slow</strong> and needs to be reviewed. The <a href="/to-the-points/paper3/insolvency-and-bankruptcy-code-3" target="_blank" rel="noopener"><strong>Insolvency and Bankruptcy Code (IBC)</strong></a> is an important innovation but glitches need to be timely resolved.<br />
<ul style="list-style-type: circle;">
<li>The recent RBI issued <a href="/daily-updates/daily-news-analysis/rbis-debt-resolution-norms" target="_blank" rel="noopener"><strong>new set of norms for dealing with stressed assets/NPAs</strong></a> in the banking sector are a welcome step.</li>
</ul>
</li>
</ul>
<p><strong>Government</strong></p>
<ul style="list-style-type: square;">
<li><strong>The government</strong> has the responsibility for <strong>overall management of the economy</strong> and being the <strong>owner of the banks,</strong> it may push the banks in certain directions. The government must ensure that banks run in the larger national interest but <strong>commercial decisions are best left to bank boards.</strong> <br />
<ul style="list-style-type: circle;">
<li>The relationship between the government and the boards/CEO is still an unresolved question. Therefore, improvement in governance of the boards needs to be done.</li>
<li><strong>Banks&rsquo; Boards</strong> must be empowered to decide on <strong>capital raising plans</strong> from the market within a well-defined framework.</li>
</ul>
</li>
<li><strong>Recapitalisation</strong> may be done in cash rather than through bonds or in some combination.</li>
<li><strong>The government</strong> and regulators need to promote <strong>specialised institutions for project finance</strong> (funding long-term infrastructure/industrial projects, and public services using a limited financial structure). The <strong>promotion of corporate debt markets</strong> both for performing loans as well as distressed loans needs special attention.</li>
<li>Also, reliance on project appraisal by just <strong>one single institution</strong> has entailed losses to a number of small and medium banks. Hence, there is a need for institutionalized mechanism that can efficiently perform such function.</li>
</ul>
<p><strong>Banks</strong></p>
<ul style="list-style-type: square;">
<li><strong>Management: Banks</strong> need to take <strong>responsibility</strong> for the soundness of credit decisions. They need to identify and define their own risk taking capabilities rather than leaning on the big lenders&rsquo; appraisal.<br />
<ul style="list-style-type: circle;">
<li>Banks need to significantly <strong>upgrade</strong> their appraisal and monitoring skills and invest in personnel training. <a href="/daily-updates/daily-news-editorials/solving-the-npa-crisis-in-india" target="_blank" rel="noopener"><strong>Risk management</strong></a> needs to be improved at all levels.</li>
</ul>
</li>
<li><strong>Audit: Assurance systems</strong> (internal &amp; external audits and credit rating) need to be strengthened. <br />
<ul style="list-style-type: circle;">
<li>Given the reported large scale<strong> siphoning (illegal transfer) of funds, round tripping of debt as equity</strong> through dozens of shell companies needs to be checked through<strong> forensic audits</strong> at annual reviews.</li>
</ul>
</li>
</ul>
<p>The need of the hour is a concentrated focus on the part of the government and <strong>efficient implementation</strong> of policies like <a href="/loksabha-rajyasabha-discussions/the-big-picture-tackling-npas-the-new-strategy" target="_blank" rel="noopener"><strong>Project &lsquo;Sashakt&rsquo;</strong></a> so as to effectively tackle the problem of rising NPAs.</p>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr>
<td style="width: 100%; border-style: dotted; border-color: #0a12ff; background-color: #e1ffdb;"><span style="color: #000080;"><em><strong>Drishti Mains Question</strong></em></span><br /><br />Discuss the various reasons behind the rise in NPAs (non-performing assets) in the Indian banking sector and suggest measures to tackle this rise.</td>
</tr>
</tbody>
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		(int) 19 => [
			'title' => 'Macau to Celebrate 20th Anniversary ',
			'catname' => 'News Analysis',
			'desc' => '<h3>Why in News<a href="http://www.drishtiias.com/images/uploads/1576754224_images5.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576754224_images5.png" width="372" height="262" style="float: right;" caption="false" /></a></h3>
<p>Macau celebrated the <strong>20<sup>th</sup> Anniversary</strong> since the<strong> former Portuguese colony was returned to China.</strong></p>
<ul style="list-style-type: square;">
<li>The Macau Special Administrative Region (MSAR) is an <strong>integral part of China</strong> and example of China&rsquo;s <strong>"one country, two systems" model.</strong><br />
<ul style="list-style-type: circle;">
<li>"One country, two systems" is a constitutional principle describing the governance of Hong Kong and Macau since they became regions of China in 1997 and 1999, respectively.</li>
</ul>
</li>
<li><strong>Administration:</strong> It <strong>does not practice</strong> China's socialist economic system. Also, it enjoys a <strong>high degree of autonomy</strong> in all matters <strong>except foreign and defence affairs.</strong></li>
<li><strong>Location:</strong> It is situated on the south-east coast of China near the mouth of the <strong>Pearl River.</strong> It is 60 kilometres from Hong Kong.<br />
<ul style="list-style-type: circle;">
<li>Macau consists of the <strong>Macau peninsula</strong> and the <strong>two islands of Taipa and Coloane.</strong></li>
</ul>
</li>
<li><strong>Population:</strong> It is one of the most densely populated areas in the world.</li>
<li><strong>Economy:&nbsp;</strong>Macau is heavily dependent on the<strong> gambling industry with its casinos</strong> contributing about 80% of government income.</li>
</ul>
<p><a href="https://timesofindia.indiatimes.com/world/china/xi-jinping-visits-macao-to-celebrate-20-years-of-china-rule/articleshow/72883721.cms" target="_blank" rel="noopener"><strong>Source: TOI</strong></a></p>',
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	(int) 0 => [
		'title' => 'Discom Losses and UDAY Scheme',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>Distribution Companies&rsquo; (Discom) losses, which had progressively reduced in the first couple of years since the rollout of Ujwal Discom Assurance Yojana (UDAY) in November 2015, have rebounded in the financial year 2019.</p>
<ul style="list-style-type: square;">
<li>Book losses of discoms reduced from Rs 51,562 crore in the financial year 2016 to Rs 15,132 crore in 2018. However, the losses in 2019 have nearly doubled to Rs 28,036 crore vis-a-vis 2018. This points that discoms are lagging behind in eliminating the <strong>ACS-ARR gap</strong> (the gap between Average Cost of Supply and Average Revenue Realised).</li>
<li>Discoms have also missed the year 2019 UDAY target to bring down their <strong>Aggregate Technical and Commercial (AT&amp;C)</strong> losses to 15%.</li>
<li>The primary reason is the failure of discoms to collect the full cost that they pay for power &mdash; the same issue that had led to the floundering of the previous two schemes - <strong>Accelerated Power Development and Reforms Programme (APDRP)</strong> and <strong>Restructured APDRP (R-APDRP).</strong></li>
</ul>
<div class="border-bg">
<p><strong>Aggregate Technical and Commercial (AT&amp;C) Losses</strong></p>
<ul style="list-style-type: square;">
<li><strong>It has two components</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Technical Loss:</strong> It is due to the flow of power in transmission and distribution system.</li>
<li><strong>Commercial Loss:</strong> It is due to theft of electricity, deficiencies in metering, etc.</li>
</ul>
</li>
</ul>
</div>
<h3>UDAY Scheme</h3>
<ul style="list-style-type: square;">
<li>The Ujwal Discom Assurance Yojana (UDAY) was launched by the <strong>Ministry of Power in November 2015</strong> to help turn around the poor financial situation of state discoms.</li>
<li><strong>Critical Components</strong><br />
<ul style="list-style-type: circle;">
<li>Takeover of 75% of discom debt by state governments,</li>
<li>Reduction in AT&amp;C losses,</li>
<li>Timely tariff revisions and elimination of the gap between the Average Cost of Supply (ACS) and Average Revenue Realised (ARR) by the financial year 2019.</li>
</ul>
</li>
<li>It also envisages development of renewable energy sector and availability of 24*7 Power For All at an affordable price.</li>
<li>There are several other operational efficiency targets under UDAY, such as feeder metering, smart metering and feeder segregation etc.</li>
<li>The Scheme will wind up in March 2020.</li>
</ul>
<p><a href="https://indianexpress.com/article/cities/delhi/uday-scheme-power-discom-losses-6180263/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
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	(int) 1 => [
		'title' => 'Kisan Diwas',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>The 'Kisan Diwas' or National Farmers Day is observed across the country on<strong> 23<sup>rd</sup> December</strong> to celebrate the birth anniversary of <strong>Chaudhary Charan Singh,</strong> the former Prime Minister of India.</p>
<ul style="list-style-type: square;">
<li>It is celebrated to promote awareness among the citizens to understand the importance of the contributions of the farmers to the society and overall economic and social development of a country.</li>
<li>Government also aims to encourage the farmers across the country by organizing various activities like debates and seminars on agriculture.</li>
</ul>
<h3>Chaudhary Charan Singh<a href="http://www.drishtiias.com/images/uploads/1577085706_image1.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1577085706_image1.png" style="float: right;" width="143" height="231" caption="false" /></a></h3>
<ul style="list-style-type: square;">
<li>He was born in <strong>1902</strong> at Noorpur in<strong> Meerut district of Uttar Pradesh</strong> and was the Prime Minister of India from 28 July 1979 to 14 January 1980.</li>
<li>Being a <strong>proponent of rural and agricultural development</strong> he made continuous efforts for keeping agriculture at the centre of planning for India.</li>
<li>He took a leading part in formulation and finalisation of the <strong>Debt Redemption Bill 1939,</strong> in order to give relief to the peasantry from moneylenders.</li>
<li>He was instrumental in bringing about the <strong>Land Holding Act, 1960</strong> which was aimed at lowering the ceiling on land holdings to make it uniform throughout the State.</li>
<li>He was the <strong>author of several books and pamphlets,</strong> including &lsquo;Abolition of Zamindari&rsquo;, &lsquo;Co-operative Farming X-rayed&rsquo;, &lsquo;India&rsquo;s Poverty and its Solution&rsquo;, &lsquo;Peasant Proprietorship or Land to the Workers&rsquo; and &lsquo;Prevention of Division of Holdings Below a Certain Minimum&rsquo;.</li>
</ul>
<p><a href="https://indianexpress.com/article/india/will-make-all-efforts-to-secure-farmers-future-rahul-gandhi-on-kisan-diwas-5506386/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
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	(int) 2 => [
		'title' => 'Slowdown in India: Part 2',
		'catname' => 'News Editorials',
		'desc' => '<div class="border">
<p>This article is based on <a href="https://indianexpress.com/article/opinion/columns/indian-economy-gdp-slowdown-modi-government-6175652/lite/" target="_blank" rel="noopener"><strong>&ldquo;A solution: Two bad banks for the Four Balance Sheet problem&rdquo;</strong></a> which was published in The Indian Express on 21/12/2019. It talks about measures that should be taken to revive the growth in the Indian Economy.</p>
</div>
<p>The <a href="/daily-updates/daily-news-editorials/slowdown-in-india-part-1" target="_blank" rel="noopener"><strong>first part of this article</strong></a> showed that slowdown in India <strong>arrived in two waves.</strong> The <strong>first wave,</strong> the <strong>Twin Balance Sheet crisis,</strong> encompassing<strong> banks</strong> and <strong>corporates</strong> arrived after the global financial crisis in 2009. The<strong> second wave</strong> is centred around the crisis in <strong>NBFCs</strong> and <strong>real estate sector</strong> (because of unsustainable financing and rising inventory of unsold housing).</p>
<p>As a result, the economy now confronts a <strong>Four Balance Sheet (FBS) problem.</strong> This can be resolved by the following steps:</p>
<h3>Resolving the Non-Performing Assets (NPAs) crisis</h3>
<ul style="list-style-type: square;">
<li><strong>Two bad banks</strong> (for Real estate and power sectors) to resolve the Four Balance Sheet problem might be one critical element of the solution.<br />
<ul style="list-style-type: circle;">
<li>Creation of<strong> special resolution mechanisms</strong> for these two sectors is important because:<br />
<ul style="list-style-type: disc;">
<li><strong>Majority of NPAs</strong> are in these two sectors.</li>
<li>These sectors are <strong>socially and commercially very important.</strong></li>
</ul>
</li>
<li>In this context, a <strong>holding company or public-sector asset rehabilitation agency (bad bank) can be created.</strong><br />
<ul style="list-style-type: disc;">
<li>Holding company would buy stressed assets, based on the recommendations of independent parties, such as investment banks. This would allow the transaction to be seen as fair by all stakeholders.</li>
<li>This would free up balance sheets and management attention of banks and allowing them to focus on their core business of supporting economic growth.</li>
<li>The holding company can be mandated to sell off the assets within five years, after which it would be dissolved.</li>
</ul>
</li>
</ul>
</li>
<li><strong>A New asset quality review</strong> will be needed to get a more honest recognition of the magnitude of stressed assets.</li>
<li><strong>Efficient implementation</strong> of policies like<a href="/loksabha-rajyasabha-discussions/the-big-picture-tackling-npas-the-new-strategy" target="_blank" rel="noopener"><strong> Project &lsquo;Sashakt&rsquo;</strong> </a>should be done to effectively tackle the problem of rising NPAs.</li>
<li><a href="/loksabha-rajyasabha-discussions/in-depth-insolvency-and-bankruptcy-code-act" target="_blank" rel="noopener"><strong>Insolvency and Bankruptcy Code (IBC)</strong> </a><strong>needs</strong> further strengthening.</li>
</ul>
<h3>Competitive Financial Market</h3>
<ul style="list-style-type: square;">
<li>The government must ensure that banks run in the larger national interest but <strong>commercial decisions are best left to bank boards.</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Banks&rsquo; Boards</strong> must be empowered to decide on<strong> capital raising plans</strong> from the market within a well-defined framework.</li>
</ul>
</li>
<li>The<strong> promotion of corporate debt markets</strong> both for performing loans as well as distressed loans needs special attention.</li>
</ul>
<h3>Raising Exports and Demand in Economy</h3>
<ul style="list-style-type: square;">
<li>Government intervention should <strong>comprise steps to spur demand</strong> in the economy, by <strong>raising the purchasing power of the masses,</strong> especially in rural India.</li>
<li>India still has nearly half of its workforce engaged in agriculture. Therefore, <strong>investment in agriculture will serve twin benefits:</strong><br />
<ul style="list-style-type: circle;">
<li>One, of raising rural demand and purchasing power.</li>
<li>Two, agricultural exports can check India's unfavourable balance of payment and can emerge as an important source of foreign exchange.</li>
</ul>
</li>
<li><strong>Liberalised foreign direct investment norms in the manufacturing sector,</strong> will result in the generation of employment in India and increase the competitiveness of <strong>India's exports.</strong></li>
</ul>
<p>India should view current slowdown, not as a crisis but as an opportunity to carry out much-needed reforms, only then it can achieve the goal of becoming a $5 trillion economy.</p>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr>
<td style="width: 100%; border-style: dotted; border-color: #ff0000; background-color: #fffbd9;">
<p><span style="color: #000080;"><em><strong>Drishti Mains Question<br /><br /></strong></em></span>India should view current slowdown, not as a crisis but as an opportunity to carry out much-needed reforms, only then it can achieve the goal of becoming a $5 trillion economy. Discuss.</p>
</td>
</tr>
</tbody>
</table>',
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		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-editorials/getting-the-indian-economy-back-on-track'
	],
	(int) 3 => [
		'title' => 'EU Green Deal',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>In the background of the failure of the global community to reach any agreement in the recently concluded <a href="/daily-updates/daily-news-analysis/cop-25-ends-without-concrete-outcome" target="_blank" rel="noopener"><strong>COP 25</strong></a>, the <a href="/important-institutions/drishti-specials-important-institutions-international-institution/european-union" target="_blank" rel="noopener"><strong>European Union</strong></a> (EU) has come up with a climate action plan known as the<strong> European Green Deal.</strong></p>
<ul style="list-style-type: square;">
<li>The European Union is the <strong>third-largest emitter of greenhouse gases</strong> in the world after <strong>China</strong> and the <strong>United States.</strong></li>
</ul>
<h3>Major Decisions under Green Deal</h3>
<ul style="list-style-type: square;">
<li><strong>Achieving Climate Neutrality</strong><br />
<ul style="list-style-type: circle;">
<li>To become <strong>&ldquo;climate neutral&rdquo; by 2050</strong> and to achieve this, a law will be brought which will be binding on all member countries. A law will turn the political commitment into a legal obligation and will trigger the investments as well.</li>
<li>The <strong>EU is now the first major emitter</strong> to agree to the 2050 climate neutrality target laid down in the <a href="/to-the-points/paper3/cop24" target="_blank" rel="noopener"><strong>Paris Agreement.</strong></a><br />
<ul style="list-style-type: disc;">
<li><strong>Climate neutrality</strong> is achieved when a <strong>country&rsquo;s emissions are balanced by absorptions and removal of greenhouse gases</strong> from the atmosphere. It is also expressed as a state of net-zero emissions.</li>
<li><strong>Absorption</strong> can be increased by creating more carbon sinks like forests, while <strong>removal</strong> involves technologies like carbon capture and storage.</li>
</ul>
</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Note:</strong> Bhutan and Suriname are the only carbon neutral countries in the world.</p>
</div>
<ul style="list-style-type: square;">
<li><strong>Increasing 2030 Emission Reduction Targets</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Increase the reduction in its emissions to at least 50%</strong> and work towards 55% in the near future.<br />
<ul style="list-style-type: disc;">
<li>Earlier, the EU had committed to reduce its emissions by 40% by 2030 from 1990 levels under the Paris Agreement. This was already the most ambitious emission reduction targets among developed countries.</li>
<li>For example, USA had agreed to cut emissions by 26-28% by 2030 from 2005 levels but after withdrawing from the Paris Agreement, it is under no obligations now.</li>
<li>The EU is one of the major emitters to retain the 1990 baseline for emission cuts which were originally mandated under the <a href="/daily-updates/daily-news-editorials/how-markets-can-serve-climate" target="_blank" rel="noopener"><strong>Kyoto Protocol</strong></a> for all developed countries. Most other countries have shifted their baselines to 2005 or even later under the 2015 Paris Agreement.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Sectoral Plans:</strong> It <strong>includes sectoral plans</strong> to achieve these targets which include making the steel industry carbon-free by 2030, new strategies for transport and energy sectors, a revision of management of railway and shipping to make them more efficient and more stringent air pollution emission standards for vehicles.</li>
</ul>
<h3>Achievements</h3>
<ul style="list-style-type: square;">
<li>The EU has been <strong>doing better than other developed countries on reducing emissions.</strong></li>
<li>In terms of emission reductions, it probably is on track to meet the <strong>target of 20% by 2020,</strong> unlike any developed country outside the EU. <br />
<ul style="list-style-type: circle;">
<li>Canada reported a 4% reduction from 2005 levels. Japan reported an 8% reduction from the 2013 baseline.</li>
</ul>
</li>
</ul>
<h3>Concerns</h3>
<ul style="list-style-type: square;">
<li>The <strong>EU has not been fulfilling all its climate obligations</strong> because Kyoto Protocol requires rich and developed countries to provide finance and technology to developing countries to help them fight climate change. EU is <strong>helping very less, especially for adaptation needs of developing countries.</strong><br />
<ul style="list-style-type: circle;">
<li>This is the main reason why developing countries like India and China, have been repeatedly raising the issue of unfulfilled obligations of developed countries.</li>
</ul>
</li>
<li>The Green Deal is <strong>inadequate</strong> for achieving the emission reductions because big emitters and large developing countries like China and India are not immediately scaling up their climate actions. Withdrawal of the USA has also negatively impacted the step towards climate change mitigation.</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li>Other countries need to raise their ambitions and the reduction targets and their policies should be in line with the global environmental agreements.</li>
<li>EU should be more helpful towards developing nations so that its efforts do not get wasted and every nation is equally contributing towards conservation of the planet.</li>
</ul>
<p><a href="https://indianexpress.com/article/explained/explained-why-eu-green-deal-matters-6177509/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/eu-green-deal'
	],
	(int) 4 => [
		'title' => 'CST-100 Starliner',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p><strong>CST-100 Starliner</strong> is a space capsule of&nbsp;<strong>National Aeronautics and Space Administration (NASA)</strong> which failed its first test flight. Its objective was to <strong>ferry astronauts to the International Space Station (ISS).</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>The capsule <strong>CST-100 Starliner</strong> was built by <strong>Boieng.</strong></li>
<li><a href="/important-institutions/drishti-specials-important-institutions-international-institution/national-aeronautics-and-space-administration-nasa" target="_blank" rel="noopener"><strong>National Aeronautics and Space Administration (NASA)</strong></a> relies on Russia to get its astronauts on the space station.This failure is likely to <strong>push back</strong> further <strong>NASA&rsquo;s attempt at resuming human spaceflight</strong> from the United States.</li>
<li><strong>NASA</strong> has <strong>contracts</strong> with <strong>Boeing and SpaceX</strong> to build spacecraft to ferry astronauts to and from the ISS.<br />
<ul style="list-style-type: circle;">
<li>SpaceX&rsquo;s <strong>Crew Dragon</strong> capsule is scheduled to launch in 2020. It will be a crewless flight, and if it succeeds, SpaceX could be in a position to send astronauts into space.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>International Space Station</strong></p>
<ul style="list-style-type: square;">
<li>The International Space Station (ISS) is a habitable artificial satellite - the single <strong>largest man-made structure in low earth orbit.</strong></li>
<li>It circles the Earth in roughly <strong>92 minutes</strong> and completes <strong>15.5 orbits per day.</strong></li>
<li>The ISS programme is a <strong>joint project</strong> between five participating space agencies: <strong>NASA (United States), Roscosmos (Russia), JAXA (Japan), ESA (Europe), and CSA (Canada)</strong> but its ownership and use has been established by intergovernmental treaties and agreements.</li>
<li>Its first component was launched into orbit in <strong>1998</strong> and its development and assembly still continues.</li>
<li>It serves as a microgravity and space environment research laboratory in which crew members conduct experiments in biology, human biology, physics, astronomy, meteorology, and other fields.</li>
<li>Continuous presence at ISS has resulted into the longest continuous human presence in the low earth orbit.</li>
<li>It is expected to operate until 2030.</li>
</ul>
</div>
<p><a href="https://indianexpress.com/article/explained/blow-to-nasa-iss-mission-what-happened-6177521/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/cst-100-starliner'
	],
	(int) 5 => [
		'title' => 'Afghanistan First Country to Recognise Indian Pharmacopoeia',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>The <strong>Islamic Republic of Afghanistan</strong> has <strong>formally recognised</strong> the <strong>Indian Pharmacopoeia (IP)</strong>.</p>
<ul style="list-style-type: square;">
<li>It is a reputable book of standards for drugs. Now it will be used in Afghanistan to ensure quality of health products.</li>
</ul>
<h3>Indian Pharmacopoeia</h3>
<ul style="list-style-type: square;">
<li>It is an officially recognized book of standards as per the <strong>Drugs and Cosmetics Act, 1940</strong> and <strong>Rules 1945</strong> thereunder.</li>
<li>As per the <strong>Second Schedule of the Drugs and Cosmetics Act,</strong> IP is designated as the <strong>official book of standards for drugs imported and/or manufactured for sale, stock or exhibition for sale or distribution in India.</strong><br />
<ul style="list-style-type: circle;">
<li>It specifies the <strong>standards of drugs manufactured and marketed in India</strong> in terms of their<strong> identity, purity and strength.</strong></li>
</ul>
</li>
<li>Standards prescribed in the IP are authoritative in nature and are enforced by the regulatory authorities for quality control of medicines in India.</li>
<li>It is being <strong>published</strong> as an official document for improving quality of medicines by way of adding new and updating existing monographs by the<strong> Indian Pharmacopoeia Commission.</strong></li>
</ul>
<h3>Indian Pharmacopoeia Commission</h3>
<ul style="list-style-type: square;">
<li>It is an<strong> autonomous institution</strong> under the <strong>Ministry of Health and Family Welfare</strong> which is responsible to set standards of drugs in the country.</li>
<li>It <strong>promotes public and animal health in India</strong> by bringing out authoritative and officially accepted standards for quality of drugs including active pharmaceutical ingredients, excipients and dosage forms, used by health professionals, patients and consumers.</li>
<li>It also develops <strong>IP Reference Substances (IPRS)</strong> that act as fingerprints for identification of an article under test and its purity as prescribed in the IP monographs.</li>
</ul>
<div class="border-bg">
<p><strong>The Drugs and Cosmetics Act, 1940</strong></p>
<ul style="list-style-type: square;">
<li>It is an <strong>act of Parliament</strong> which regulates the import, manufacturing and distribution of drugs in India.</li>
<li>Its <strong>objective</strong> is to ensure that the drugs and cosmetics sold in India are safe, effective and fulfils the safety standards and parameters.</li>
</ul>
</div>
<p><a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1597016" target="_blank" rel="noopener"><strong>Source: PIB</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/afghanistan-first-country-to-recognise-indian-pharmacopoeia'
	],
	(int) 6 => [
		'title' => 'Apache Helicopters for Indian Army',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>The deal for<strong> six AH-64E Apache attack helicopters</strong> for the <strong>Indian Army</strong> is to be signed.</p>
<ul style="list-style-type: square;">
<li>Currently, the Army Aviation Corps operates only smaller <strong>Cheetah and ALH (Advanced Light Helicopters)</strong> that weigh <strong>less than five tonnes.</strong></li>
<li>These are in addition to 22 Apaches being inducted by the<strong> Indian Air Force (IAF)</strong> which will <strong>replace</strong> the <strong>Russian Mi-35</strong> attack helicopters in service.</li>
</ul>
<h3>AH-64E Apache Attack Helicopter<a href="http://www.drishtiias.com/images/uploads/1576913202_image3.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576913202_image3.jpg" style="float: right;" caption="false" width="300" height="200" /></a></h3>
<ul style="list-style-type: square;">
<li>Better known as an attack helicopter are received from the <strong>Boeing production</strong> facility in <strong>Mesa, Arizona, USA.</strong></li>
<li>These are all-weather capable, easily maintainable and have high agility and survivability against battle damage.</li>
<li>The <strong>capabilities</strong> of the AH-64E Apache Attack Helicopter includes:<br />
<ul style="list-style-type: circle;">
<li>It can carry out precision attacks at standoff ranges and operate in hostile airspace with threats from the ground.</li>
<li>It can transmit and receive battlefield picture through data uplinking and networking.</li>
<li>It can also shoot fire and forget anti-tank guided missiles, air to air missiles, rockets while providing versatility to helicopter in network-centric aerial warfare.</li>
<li>It also carries fire control radar, which has a 360&deg; coverage and nose-mounted sensor suite for target acquisition and night vision systems.</li>
</ul>
</li>
<li>The addition of the Apache Attack Helicopter is a significant step towards modernisation of Indian Air Force helicopter fleet and the Indian Army.</li>
</ul>
<h3>Cheetah Helicopters<a href="http://www.drishtiias.com/images/uploads/1576913240_image1.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576913240_image1.jpg" style="float: right;" caption="false" width="300" /></a></h3>
<ul style="list-style-type: square;">
<li>The Cheetah Helicopter is a <strong>high-performance</strong> helicopter designed by <a href="/loksabha-rajyasabha-discussions/the-big-picture-need-to-modernise-indian-air-force" target="_blank" rel="noopener"><strong>Hindustan Aeronautics Limited (HAL).</strong></a></li>
<li>It is <strong>identical to LAMA SA 315B</strong> Helicopter of Eurocopter, <strong>France.</strong></li>
<li>It is a five-seater multi-role, multi-purpose, highly manoeuvrable helicopter.</li>
<li>It holds the <strong>world record in high altitude flying</strong> among all categories of Helicopters.</li>
<li>The helicopter is suitable for commuting, observation, surveillance, logistics support, rescue operations and high altitude missions.</li>
</ul>
<h3>Advanced Light Helicopter (ALH-DHRUV)<a href="http://www.drishtiias.com/images/uploads/1576913274_image2.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576913274_image2.jpg" style="float: right;" caption="false" width="300" /></a></h3>
<ul style="list-style-type: square;">
<li>The indigenously designed and developed Advanced Light Helicopter (ALH-DHRUV) is a <strong>twin-engine,</strong> multi-role, multi-mission new generation helicopter in the <strong>5.5-ton weight class.</strong></li>
<li>The major variants of Dhruv are classified as Dhruv Mk-I, Mk-II, Mk-III &amp; Mk-IV.</li>
</ul>
<p><a href="https://www.thehindu.com/news/national/army-to-sign-deal-for-six-apache-attack-helicopters/article30361497.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/apache-helicopters-for-indian-army'
	],
	(int) 7 => [
		'title' => 'Indo – US 2+2 Dialogue ',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>India and the US have recently concluded <strong>second</strong> <strong>2+2 ministerial dialogue</strong> in <strong>Washington.&nbsp;</strong>Several landmark agreements in both <strong>defence and Civilian sectors</strong> were signed.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Industrial Security Annex (ISA)</strong>
<ul style="list-style-type: circle;">
<li>ISA to the <a href="/daily-updates/daily-news-analysis/india-us-2-plus-2-talks" target="_blank" rel="noopener"><strong>General Security Of Military Information Agreement (GSOMIA)</strong></a> will provide a framework for exchange and protection of <strong>classified</strong> military information <strong>between the U.S. and Indian defence industries.</strong></li>
<li>Currently, under GSOMIA, such information is exchanged between the Government authorities of the two countries but not between <strong>private parties.</strong></li>
<li>This will further promote <strong>&ldquo;Make in India&rdquo;</strong> in the defence sector.
<ul style="list-style-type: disc;">
<li>In accordance with the budget announcement (2018-19), the government has already decided to set up <strong>two Defence Industrial Corridors</strong> in the country, <strong>one in Uttar Pradesh and another in Tamil Nadu.</strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Peacekeeping for Indo-Pacific</strong><br />
<ul style="list-style-type: circle;">
<li>Cooperation in <strong>capacity-building</strong> of UN peacekeepers from Indo-Pacific countries, based on demands from the countries concerned.</li>
<li>Counter-terrorism efforts were also discussed including dangers of of cross border terrorism.</li>
</ul>
</li>
<li><strong>Tiger Triumph Exercise</strong><br />
<ul style="list-style-type: circle;">
<li>To hold the <a href="/daily-updates/daily-news-analysis/tiger-triumph" target="_blank" rel="noopener"><strong>India-U.S. joint tri-services &lsquo;Tiger Triumph&rsquo;</strong></a> on an <strong>annual</strong> basis.</li>
<li><strong>The first edition</strong> was held in <strong>November 2019</strong> as a Humanitarian Assistance and Disaster Relief <strong>(HADR)&nbsp;</strong>exercise.</li>
</ul>
</li>
<li><strong>Coalition for Disaster Resilient Infrastructure (CDRI)</strong><br />
<ul style="list-style-type: circle;">
<li>The <a href="/daily-updates/daily-news-analysis/international-coalition-for-disaster-resilient-infrastructure" target="_blank" rel="noopener"><strong>CDRI</strong></a> was launched at the <a href="/to-the-points/paper3/un-climate-action-summit-2019" target="_blank" rel="noopener"><strong>UN Climate Action Summit</strong></a> in <strong>New York, USA</strong> in September 2019. It is<strong> headquartered in New Delhi, India.</strong></li>
<li>The US is now part of it.</li>
</ul>
</li>
<li><strong>Water Resource Management</strong><br />
<ul style="list-style-type: circle;">
<li>Memorandum of understanding (MoU) was signed between Ministry of <strong>Jal Shakti</strong> and the <strong>U.S. Geological Survey</strong> to promote <strong>technical cooperation</strong> in water resources management and water technology.</li>
</ul>
</li>
<li><strong>Space Situational Awareness (SSA)</strong> <br />
<ul style="list-style-type: circle;">
<li>Cooperation for <strong>exchange</strong> of information including <strong>space debris and space traffic management.</strong></li>
<li>It ensures <strong>navigational safety of our space assets.</strong></li>
</ul>
</li>
<li><strong>Young Innovators Internship Programme (YIIP)</strong><br />
<ul style="list-style-type: circle;">
<li>Create <strong>internship</strong> opportunities in <strong>key areas of science and economy.</strong></li>
<li>New opportunities for<strong> young entrepreneurs.</strong></li>
</ul>
</li>
<li><strong>Parliamentary Exchange and Judicial cooperation</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Reciprocal visits</strong> by Parliamentarians from both countries.</li>
<li>The U.S. Federal Judicial Center and <strong>India&rsquo;s National Judicial Academy in Bhopal</strong> to cooperate in the area of <strong>counter-terrorism jurisprudence</strong> to <strong>new</strong> areas of<strong> criminal jurisprudence</strong> including<strong> money laundering, drug trafficking</strong> etc.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>&lsquo;2+2&rsquo; Dialogue</strong></p>
<ul style="list-style-type: square;">
<li>It is a format of dialogue where the <strong>defense and foreign ministers or secretaries</strong> meet with their counterparts from another country. 2+2 Ministerial is the highest-level institutional mechanism between the two countries.</li>
<li>India holds such talks with <strong>Australia,</strong> at the foreign secretary and defense secretary level but with<a href="/loksabha-rajyasabha-discussions/the-big-picture-india-japan-2-2" target="_blank" rel="noopener"><strong> Japan</strong> </a>and the <strong>US</strong> at the <strong>ministerial level.</strong></li>
<li>With the US this was the<strong> second 2+2 meeting (Washington),</strong> first was held in New Delhi in September 2018.</li>
<li>US holds such ministerial dialogues with <strong>Australia and Japan</strong> also.</li>
</ul>
</div>
<p><a href="https://www.thehindu.com/news/national/defence-ties-with-us-set-to-deepen-rajnath-singh/article30344918.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/indo-us-2-2-dialogue'
	],
	(int) 8 => [
		'title' => 'Society of Biotechnology of India',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>Recently, the<strong> Society of Biotechnology of India (SBPI)</strong> was launched by former biotechnologists and technocrats of the <strong>Union Department of Biotechnology, Ministry of Science and Technology.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>It is a <strong>non-profit organisation.</strong></li>
<li>It would <strong>promote transformation changes</strong> and approaches towards<strong> core research in modern biotechnology</strong> so that the outcome could lead to more products and technologies for economic and social gain.</li>
<li>It would complement India's efforts towards <strong>enhancing research funding of &ldquo;gap areas&rdquo;</strong> in infrastructure, human resources, regulatory frameworks and converting research and development leads into applications.</li>
<li><strong>Members</strong> of the SBPI have experience in promoting biotechnology in areas such as <a href="/daily-updates/daily-news-editorials/bt-cotton-in-india-problems-and-solutions" target="_blank" rel="noopener"><strong>BT cotton</strong></a>, introduction of recombinant therapeutic proteins and vaccines and fostering international collaborations.</li>
</ul>
<div class="border-bg">
<p><strong>Recombinant Therapeutic Proteins</strong></p>
<ul style="list-style-type: square;">
<li>These are <strong>produced from recombinant DNA</strong> using<strong> biomolecular engineering,</strong> which involves inserting the gene encoding of a protein into expression systems such as bacteria, yeast or mammalian cells cultures.</li>
<li>Recombinant therapeutic proteins have gained importance for clinical applications and they have replaced the original animal-derived version used in medicine.</li>
<li>Therapeutic proteins are quite <strong>diverse in the application treatments</strong> such as human insulin for diabetes, erythropoietin for anemia and chronic renal failure, vaccines for Hepatitis B etc.</li>
</ul>
</div>
<p><a href="https://www.thehindu.com/news/cities/Delhi/society-of-biotechnology-of-india-launched/article30362739.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/society-of-biotechnology-of-india'
	],
	(int) 9 => [
		'title' => 'Slowdown in India: Part 1',
		'catname' => 'News Editorials',
		'desc' => '<div class="border">
<p>This article is based on<a href="https://indianexpress.com/article/explained/indian-economy-lose-growth-momentum-four-balance-sheet-challenge-6171838/" target="_blank" rel="noopener"><strong> &ldquo;How and why the Indian economy is losing its growth momentum&rdquo;</strong></a> which was published in The Indian Express on 18/12/2019. It talks about the reasons for the current slowdown in the Indian economy.</p>
</div>
<p>The recent collapse of India&rsquo;s economic growth momentum is nothing short of a mystery. This is because until just a few years ago (until March 2017) the Indian economy was not only growing at a progressively rapid pace but was also the fastest-growing major economy in the world.</p>
<p>In order to scrutinise what led to the slowdown in India, there is a need to analyse four drivers that determine a country&rsquo;s GDP.</p>
<h3>GDP can be stated as a sum of four factors, i.e. GDP = C + G + I + (NX).</h3>
<ul style="list-style-type: square;">
<li>The total expenditure (demand) by private individuals (represented by C).</li>
<li>The total expenditure (demand) by the Government (represented by G).</li>
<li>The total expenditure (demand) on investments made by businesses in the country (represented by I).</li>
<li>The net effect of imports and exports (represented by NX).</li>
<li>A country&rsquo;s GDP can grow by one or all of these factors.</li>
</ul>
<p>The whole story of India&rsquo;s economic rise and slowdown can be explained by looking at how each of these variables performed over the past decade.</p>
<h3>The fast growth of the Indian economy even after the Global Financial Crisis (GFC) of 2009 can be attributed to various factors:</h3>
<ul style="list-style-type: square;">
<li>The Indian economy appears to have largely avoided the GFC as the GDP growth rate dipped in 2009 but it was soon back up to 9% - 10% in the succeeding years (2010 and 2011).</li>
<li>Between 2009 and 2013, companies were in no position to invest and India&rsquo;s exports were reduced because of a decline in global demand.<br />
<ul style="list-style-type: circle;">
<li>So, the &ldquo;I&rdquo; and &ldquo;NX&rdquo; component of the above equation became weak.</li>
</ul>
</li>
<li>However, <strong>robust demand from the other two components</strong> &ndash; C and G, buoyed up the economy during this phase.<br />
<ul style="list-style-type: circle;">
<li>During 2015 and 2016, <strong>international crude oil prices fell to a third</strong> of what they were in 2014.</li>
<li>This essentially meant that <strong>Indians could spend more</strong> and the &ldquo;C&rdquo; component of the equation boosted the GDP.</li>
<li>This gave a <strong>1-1.5 % boost to India's GDP.</strong></li>
</ul>
</li>
<li>In 2017 world demand increased accompanied by a<strong> real depreciation of the rupee,</strong> amounting to about <strong>13% in real effective terms</strong> by late 2018.<br />
<ul style="list-style-type: circle;">
<li>As a result, non-oil export growth rose from -<strong>8.6 % in 2015-16 to 8.9 % in 2017-18.</strong></li>
<li>Therefore, the &ldquo;NX&rdquo; component helped bump up the GDP growth.</li>
</ul>
</li>
<li>Moreover, the GDP growth boosted by<strong> increased government spending</strong> (the &ldquo;G&rdquo; component) on many social sectors schemes.</li>
<li>India&rsquo;s growth was boosted by a <strong>lending spree provided by <a href="/daily-updates/daily-news-editorials/shadow-banking-and-the-crisis-in-the-indian-economy" target="_blank" rel="noopener">non-banking financial companies (NBFCs)</a> like IL&amp;FS and DHFL.</strong><br />
<ul style="list-style-type: circle;">
<li>NBFCs took over the <strong>leading role of lending to the economy</strong> because banks were still struggling with NPAs and were largely unwilling to lend directly to businesses.</li>
<li>The credit provided by NBFCs fuelled both private consumption (C) and business investment (I), and through this route fuelled GDP growth.</li>
</ul>
</li>
</ul>
<h3>What derailed the Indian economy after 2017?</h3>
<ul style="list-style-type: square;">
<li><strong>Former Chief Economic Advisor, Arvind Subramanian</strong>, argued that the Indian economy is facing both structural and cyclical challenges.<br />
<ul style="list-style-type: circle;">
<li><strong>Structural challenges:</strong> Long-term issues related to the overall framework of the economy such as the flexibility or inflexibility of labour laws etc.</li>
<li><strong>Cyclical challenges:</strong> Short-term issues such as a bad monsoon that disrupts the production of food articles etc.</li>
<li>Since the causes are both structural and cyclical, arresting this economic slowdown is proving to be so difficult.</li>
<li>The <strong>measures that would have alleviated a cyclical slowdown fall flat because structural reasons</strong> are also involved.</li>
</ul>
</li>
<li>He also held that the <strong>unresolved Twin-Balance Sheet (TBS) Problem</strong> accompanied by the <strong>fall of NBFCs</strong> and the <strong>real estate sector,</strong> together make for the <strong>Four Balance Sheet Challenge</strong> of the Indian economy (i.e Banks, Corporates, NBFC, Real estate).<br />
<ul style="list-style-type: circle;">
<li>This four balance sheet<strong> challenge suppressed the I component in the country.</strong></li>
</ul>
</li>
<li><strong>Four Balance Sheet Challenge</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Twin-Balance Sheet problem</strong><br />
<ul style="list-style-type: disc;">
<li>Economic Survey of 2017-18 noted that the economy was facing a TBS problem.</li>
<li>The two balance sheets it referred to belonged to the<strong> Indian banks</strong> (especially public sector banks or the government-owned banks) and the <strong>corporate sector,</strong> respectively.<br />
<ul style="list-style-type: disc;">
<li>Balance sheets of Indian banks were burdened by a <strong>high proportion of non-performing loans</strong> and the balance sheet of corporates were<strong> clogged because they had over-borrowed</strong> and were unable to pay.</li>
<li>The origins of India&rsquo;s TBS can be traced to the economic boom that happened between 2005 and 2009 (the period when the Indian economy was growing at near double-digit growth rates).</li>
<li>The banks, especially the government-owned ones, ignored prudential norms and lent a lot of money to companies in the hope that this would help boost economic growth.</li>
<li>Companies borrowed heavily in the hope of making profits in the future.</li>
<li>However, the economic prospects collapsed quite sharply after the Global Financial Crisis of 2009 and a high proportion of companies found that their projects were no longer viable.</li>
</ul>
</li>
<li>The end result was that the companies were left with huge loans that they could not pay back in time and the banks were left with huge loans that had turned into NPAs.</li>
</ul>
</li>
<li><a href="/loksabha-rajyasabha-discussions/the-big-picture-what-ails-nbfcs" target="_blank" rel="noopener"><strong>IL&amp;FS crisis</strong> </a>was a setback for the <strong>whole NBFC sector.</strong> With Rs 90,000 crores of debt, its failure sent shockwaves throughout the financial system.</li>
<li><strong>The real estate sector also suffered as</strong> builders launched numerous projects since the start of the mid-2000s in the hope that these flats would be sold up eagerly.<br />
<ul style="list-style-type: disc;">
<li>However, after the Global Financial Crisis, the demand for flats, as well as bank funding for builders, collapsed.</li>
<li>By June-end 2019, the real estate sector reached a breaking point with close to 10 lakh unsold units (as against an annual demand of just 2 lakh units) in just the top 8 cities in the country.</li>
<li>The real estate sector was unable to pay back to the NBFCs, which, in turn, started defaulting.</li>
</ul>
</li>
</ul>
</li>
<li>The trade component (NX) was weak because the global demand for India&rsquo;s goods was down.</li>
<li><strong>Consumption (C component) which has been the major driver</strong> of growth in the Indian economy is facing a slowdown due to<a href="/daily-updates/daily-news-editorials/consumption-conundrum-of-indian-economy" target="_blank" rel="noopener"><strong> Income stagnation in India.</strong></a></li>
</ul>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr style="height: 54px;">
<td style="width: 100%; height: 54px; border-style: dotted; border-color: #ff0000; background-color: #faffd1;"><span style="color: #000080;"><em><strong>Drishti Mains Question</strong></em></span><br /><br />Discuss the factors responsible for the current slowdown of the Indian economy.</td>
</tr>
</tbody>
</table>
<p><strong>Note:</strong>&nbsp;<em>Kindly follow the subsequent part of this article in the second part of &ldquo;Slowdown in India&rdquo;.</em></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-editorials/slowdown-in-india-part-1'
	],
	(int) 10 => [
		'title' => '2019 Pollution and Health Metrics: Global, Regional and Country Analysis Report',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>The <strong>2019 Pollution and Health Metrics: Global, Regional and Country Analysis report</strong> from the <strong>Global Alliance on Health and Pollution (GAHP)</strong> provides a ranking of pollution deaths on global, regional and country levels.</p>
<ul style="list-style-type: square;">
<li>In 2017, pollution was responsible for 15% of all deaths globally and 275 million Disability-Adjusted Life Years.</li>
<li>The report includes <strong>three lists</strong> on pollution-induced deaths. <strong>India is the only country that features in the top 10 in all three lists.</strong><br />
<ul style="list-style-type: circle;">
<li>India saw the most pollution deaths of about 2.3 million.</li>
</ul>
</li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1576840739_Untitled-1.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576840739_Untitled-1.jpg" width="680" height="256" style="display: block; margin-left: auto; margin-right: auto;" caption="false" /></a></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>The top 10 countries with the <strong>most pollution deaths</strong> include both the world&rsquo;s largest and wealthiest nations and some of the poorer ones.</li>
<li>In the list of top 10 countries with the <strong>most pollution-related deaths in proportion to their population,</strong> there are many <strong>smaller countries</strong> where the impact of pollution in relation to population size is <strong>more intense.</strong></li>
<li>The list of top 10 countries with the<strong> most deaths related to air pollution corresponds closely</strong> to the list of top 10 countries <strong>with the most pollution-related deaths.</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Air pollution, </strong>both <strong>ambient and indoor, </strong>is<strong> one of the largest and most obvious types of pollution affecting global health.</strong></li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Global Alliance on Health and Pollution</strong></p>
<ul style="list-style-type: square;">
<li>It is a <strong>collaborative body</strong> made up of more than 60 members and dozens of observers.</li>
<li>Few prominent members are <strong>Pure Earth</strong> (non-profit organisation), <a href="/important-institutions/drishti-specials-important-institutions-international-institution/world-bank-group" target="_blank" rel="noopener"><strong>World Bank</strong></a>, <a href="/important-institutions/drishti-specials-important-institutions-international-institution/united-nations-1" target="_blank" rel="noopener"><strong>United Nations Environment Programme</strong></a> (UNEP), <a href="/daily-updates/daily-news-analysis/solar-thermal-energy-technology" target="_blank" rel="noopener"><strong>United Nations Industrial Development Organization</strong></a> (UNIDO), <a href="/daily-updates/daily-news-analysis/asian-development-outlook-2019-strengthening-disaster-resilience-adb" target="_blank" rel="noopener"><strong>Asian Development Bank</strong></a> (ADB), the <a href="/important-institutions/drishti-specials-important-institutions-international-institution/european-union" target="_blank" rel="noopener"><strong>European Commission</strong></a>, the Ministries of Environment and Health of many low and middle-income countries etc.</li>
<li>Its <strong>goal is to reduce death and illness</strong> caused by all forms of toxic pollution, including air, water, soil and chemical wastes especially in low and middle-income countries.</li>
</ul>
</div>
<p><a href="https://indianexpress.com/article/explained/telling-numbers-india-had-most-deaths-caused-by-pollution-in-2017-new-report/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/2019-pollution-and-health-metrics-global-regional-and-country-analysis-report'
	],
	(int) 11 => [
		'title' => 'National Company Law Appellate Tribunal (NCLAT) ',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>The <strong>National Company Law Appellate Tribunal (NCLAT)</strong> has held that the <strong>removal of Cyrus Pallonji Mistry</strong> from the <strong>post of Executive Chairman</strong> of Tata Sons in 2016 was <strong>illegal.</strong></p>
<ul style="list-style-type: square;">
<li>The Tribunal has set aside a July 2017 order by the Mumbai bench of the <a href="/daily-updates/daily-news-analysis/important-fact-for-prelims-4th-march-2019-" target="_blank" rel="noopener"><strong>National Company Law Tribunal (NCLT)</strong></a>, which had upheld Mistry&rsquo;s removal from his position.</li>
<li>The NCLAT also declared the conversion of the &lsquo;Tata Sons Limited&rsquo; <strong>from &lsquo;Public Company&rsquo; to &lsquo;Private Company&rsquo;</strong> by Registrar of Companies <strong>illegal.</strong> It remarked that the decision to convert the company to private was &lsquo;prejudicial&rsquo; and &lsquo;oppressive&rsquo; to the minority shareholders.</li>
<li>In general, this decision by NCLAT will <strong>empower the minority shareholders,</strong> and will force Independent Directors to take their objections more seriously. <br />
<ul style="list-style-type: circle;">
<li>The Code for<strong> Independent Directors,</strong> which is part of the Companies Act, 2013, says that one of their functions is to <strong>&ldquo;safeguard the interests of all stakeholders, particularly the minority shareholders&rdquo;.</strong></li>
</ul>
</li>
</ul>
<h3>National Company Law Appellate Tribunal</h3>
<ul style="list-style-type: square;">
<li>The NCLAT was constituted under <strong>Section 410 of the Companies Act, 2013</strong> to hear appeals against the <strong>orders of the National Company Law Tribunal (NCLT).</strong> <br />
<ul style="list-style-type: circle;">
<li>NCLT is a quasi-judicial body that adjudicates issues relating to companies.</li>
</ul>
</li>
<li>It is also the appellate tribunal for orders passed by the <strong>NCLT(s) under Section 61 of the <a href="/daily-updates/daily-news-analysis/essar-insolvency-case" target="_blank" rel="noopener">Insolvency and Bankruptcy Code (IBC)</a>, 2016,</strong> and for orders passed by the <strong>Insolvency and Bankruptcy Board of India (IBBI) under Sections 202 and 211 of the IBC.</strong></li>
<li>Any person aggrieved by any order of the NCLAT may file an <strong>appeal to the Supreme Court.</strong></li>
</ul>
<div class="border-bg">
<p><strong>Note</strong></p>
<ul style="list-style-type: square;">
<li><strong>Minority shareholders:</strong> They are the equity holders of a firm who does not enjoy the voting power of the firm by virtue of his or her below 50% ownership of the firm&rsquo;s equity capital.</li>
<li><strong>Independent Director: An independent director</strong> is a non-executive director of a company who helps the company in improving corporate credibility and governance standards. He/ She does not have any kind of relationship with the company that may affect the independence of his/her judgment.</li>
<li><strong>Public and Private Companies</strong><br />
<ul style="list-style-type: circle;">
<li>Under the Companies Act, 2013, a company may be formed for any lawful purpose by&mdash;<br />
<ul style="list-style-type: disc;">
<li>Seven or more persons, where the company to be formed is to be a public company;</li>
<li>Two or more persons (limited to 200), where the company to be formed is to be a private company;</li>
<li>One person, where the company to be formed is to be One Person Company (a private company).</li>
</ul>
</li>
<li><strong>Suffix after the Name of the Company:</strong> &lsquo;Limited&rsquo; in the case of a public limited company and &lsquo;Private Limited&rsquo; in the case of a private limited company.</li>
</ul>
</li>
<li><strong>Registrars of Companies (ROC):</strong> These appointed under Section 609 of the Companies Act are vested with the primary duty of registering companies and Limited Liability Partnerships (LLPs) floated in the respective states and the Union Territories and ensuring that such companies and LLPs comply with statutory requirements under the Act.</li>
</ul>
</div>
<p><a href="https://indianexpress.com/article/explained/explained-key-takeaways-from-nclat-order-will-mistry-be-back-at-tata-hqs-6175674/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/national-company-law-appellate-tribunal-nclat-1'
	],
	(int) 12 => [
		'title' => 'Pinaka Missile System',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<ul style="list-style-type: square;">
<li>Recently, an <strong>updated version of Pinaka Missile System,</strong> named <strong>Pinaka Mark II</strong> rocket was successfully flight-tested from the Integrated Test Range, Chandipur, Odisha.</li>
</ul>
<h3>Key Points<a href="http://www.drishtiias.com/images/uploads/1576835517_Image2.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576835517_Image2.png" width="266" height="168" style="float: right;" caption="false" /></a></h3>
<ul style="list-style-type: square;">
<li>Pinaka is an <strong>indigenous multi-barrel rocket launch system,</strong> which has been developed by the <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/defence-research-and-development-organisation-drdo" target="_blank" rel="noopener"><strong>Defence Research and Development Organisation</strong></a> (DRDO) for the Indian Army.</li>
<li>Its weapon system has a state-of-the-art guidance kit bolstered by an advanced navigation and control system.<br />
<ul style="list-style-type: circle;">
<li>The <strong>Pinaka Mark II Rocket</strong> is modified as a missile by integrating with the navigation, control and guidance system to improve the accuracy and enhance the range.</li>
<li>The navigation system of the missile is aided by the <a href="/daily-updates/daily-news-analysis/navic" target="_blank" rel="noopener"><strong>Indian Regional Navigation Satellite System (IRNSS).</strong></a></li>
</ul>
</li>
<li>It is an artillery missile system capable of striking into enemy territory up to a range of 75 kilometres with high precision.<br />
<ul style="list-style-type: circle;">
<li>The initial version of weapon system was called <strong>Mark I,</strong> which had a range of <strong>40 km.</strong> The upgraded version or <strong>Pinaka Mark II</strong> has an extended range of <strong>70 to 80 km.</strong></li>
</ul>
</li>
<li>The mission achieved all the <strong>objectives</strong> including enhancing the range, accuracy and sub-system functionality.</li>
</ul>
<p><a href="https://pib.nic.in/PressReleasePage.aspx?PRID=1596959" target="_blank" rel="noopener"><strong>Source: PIB</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/pinaka-missile-system'
	],
	(int) 13 => [
		'title' => 'In Depth - Visual Positioning System',
		'catname' => 'Lok Sabha & Rajya Sabha Discussions',
		'desc' => '<p style="text-align: center;"><iframe width="560" height="315" src="https://www.youtube.com/embed/N3ynBR6HgIk" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe></p>
<p>Google has announced a revamped version of Maps that utilizes a complex<strong> visual positioning system (VPS)</strong> to offer improved navigation. VPS has been designed to overcome challenges of global positioning system (GPS) and is far more accurate.</p>
<h3>What is Virtual Positioning System (VPS)?</h3>
<p>VPS is the logical progression from a globally connected network, exhaustive data and new cloud storage accessibility. VPS is the blend of artificial intelligence (AI) image recognition technology and augmented reality technology, which combine symbols on the apps screen with real-life street images.</p>
<ul style="list-style-type: square;">
<li>It combines the live camera with Google&rsquo;s extensive back-end data in order to analyse the surrounding, which helps to identify the location of a user with greater accuracy.</li>
<li>It uses augmented reality to give additional information.</li>
<li>The technology was recently used in the Chandrayaan II mission.</li>
</ul>
<div class="border-bg">
<p><strong>Positioning System</strong></p>
<p>A positioning system is a tool to determine the location of an individual or object. The technology requires global coverage and sharp accuracy to achieve the exact location.</p>
<ul style="list-style-type: square;">
<li><strong>For Example:</strong> &lsquo;Google Maps&rsquo; is one of the positioning and navigation systems that helps individuals to find their exact location as well as a path to their destination. However, the system only offers a satellite view of the region under navigation.</li>
</ul>
<p><strong>Global Positioning System</strong></p>
<p>GPS is a <strong>satellite navigation system,</strong> used to determine the ground position of an object. It is a <strong>U.S.-owned utility</strong> that provides users with positioning, navigation, and timing (PNT) services.</p>
<ul style="list-style-type: square;">
<li>It is a network <strong>24 satellite</strong> which provides service to civilian and military users. The civilian service is freely available to all users on a continuous, worldwide basis. The military service is available to U.S. and allied armed forces as well as approved Government agencies.</li>
</ul>
</div>
<h3>How does it work?</h3>
<ul style="list-style-type: square;">
<li>Visual Positioning System allows the device to virtually localize surroundings in a map. It uses multiple images of the surrounding environment for creating a 3D environment.</li>
<li>The system compares the multiple-image of the environment taken by the phone&rsquo;s camera to recreate the position relative to the environment using triangulation techniques of GPS.</li>
<li>For using the technology, the user needs to tap a button to activate the visual view and just point the camera where he/she needs to go to see relevant information.
<ul style="list-style-type: circle;">
<li>Surrounding will be displayed with an overlay of Google map data.</li>
<li>There will be arrows pointing in the direction the user needs to go, with a small map at the bottom to remind you where you are headed.</li>
<li>The technology is capable of determining indoor and outdoor locations through ad-hoc visual markers. Distinguishing features such as signage, buildings, and walls are identified by scanning geolocated photos.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Virtual Reality</strong></p>
<p>Virtual Reality (VR) is the use of computer technology to create a simulated environment.</p>
<ul style="list-style-type: square;">
<li>Unlike traditional user interfaces, VR places the user inside an experience i.e instead of viewing a screen in front of them, users are immersed and able to interact with 3D worlds.</li>
<li>VR enables simulation of as many senses as possible, such as vision, hearing, touch, even smell.</li>
<li>In this, the user is completely immersed in an artificial world and cut-off from reality.</li>
</ul>
<p><strong>Augmented Reality</strong></p>
<p>Augmented Reality is the use of sensors and algorithms by computer to determine the position and orientation of a camera.</p>
<ul style="list-style-type: square;">
<li>Augmented reality is closer to the real world, it adds graphics, sounds and smell to the natural world as it exists.</li>
<li>The user can interact with the real world along with the virtual world.</li>
</ul>
</div>
<h3>Difference between VPS and GPS</h3>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr style="height: 19px;">
<td style="height: 19px; text-align: center; border-color: #4940ff; background-color: #5757ff; width: 100px; vertical-align: top;">
<p><span style="color: #ffffff;"><strong>Global Positioning System</strong></span></p>
</td>
<td style="height: 19px; text-align: center; border-color: #4940ff; background-color: #5757ff; width: 100px; vertical-align: top;">
<p><span style="color: #ffffff;"><strong>Virtual Positioning System</strong></span></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="height: 19px; border-color: #000000; background-color: #e3e7fc; width: 100px; vertical-align: top;">
<ul style="list-style-type: square;">
<li>GPS is based on time and the known position of GPS specialized satellites i.e distance-based technology.</li>
<li>GPS presents only a satellite view.</li>
<li>GPS faces the problem of drifting due to continuous change in the position of satellites, weak signals due to thick clouds and tall buildings.</li>
<li>GPS has a voice system to guide the user.</li>
</ul>
</td>
<td style="height: 19px; border-color: #000000; background-color: #e3e7fc; width: 100px; vertical-align: top;">
<ul style="list-style-type: square;">
<li>VPS combines a live camera view with Google data along with GPS.</li>
<li>VPS displays blown up 3-D directions like lit-up arrows and precise steps to figure out the exact location.</li>
<li>VPS addresses the problem of drifting by running its own copy of the operating system.</li>
<li>VPS uses animated characters to display nearby locations like banks, hotels etc to help users to identify the location easily.</li>
</ul>
</td>
</tr>
</tbody>
</table>
<h3>Benefits</h3>
<ul style="list-style-type: square;">
<li><strong>Business and Marketing:</strong> VPS allows businesses to fill the Google business profile through which customers can see relevant information about the business.
<ul style="list-style-type: circle;">
<li>It also allows businesses to take their customers to have a virtual visit to the store or product repository.</li>
</ul>
</li>
<li><strong>Logistics:</strong> VPS holds potential to dramatically revolutionize the logistics and transportation sector by enhancing navigational capabilities of robots, drones and driverless cars.</li>
<li><strong>Navigation:</strong> The technology can be a gamechanger in navigational experience in dense urban areas where GPS services are often distracted or blocked by skyscrapers.</li>
<li>It offers remarkable comfort and ease for travel from one spot to another by providing a live camera view with negligible dependency on others to get directions.</li>
</ul>
<h3>Conclusion</h3>
<p>Technologies like GPS and VPS are revolutionizing digital mapping that are of immense help in our daily life. Therefore, with such technological evolutions, the services offerings are expected to be more virtual, customized and augmented for each person.</p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/loksabha-rajyasabha-discussions/in-depth-visual-positioning-system'
	],
	(int) 14 => [
		'title' => 'ILP in Meghalaya',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>The <strong>Meghalaya Assembly</strong> has adopted a resolution for <strong>implementing the <a href="/daily-updates/daily-news-analysis/nagaland-extends-ilp-in-dimapur" target="_blank" rel="noopener">Inner Line Permit (ILP)</a></strong> regime in the state.</p>
<ul style="list-style-type: square;">
<li>The Government of Meghalaya will urge upon the centre to include Meghalaya in the preamble of the Bengal Eastern Frontier Regulations, 1873.</li>
</ul>
<h3>Background</h3>
<p>In November 2019, the Meghalaya Cabinet approved amendments to the <strong>Meghalaya Residents Safety and Security Act (MRSSA), 2016,</strong> which will lead to laws that require non-resident visitors to register themselves. This move came in the backdrop of demands for an ILP-like regime.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>The <strong>ILP is a special permit</strong> that is required by &ldquo;outsiders&rdquo; from other regions of India to<strong> enter the states of Arunachal Pradesh, Nagaland Mizoram</strong> and <strong>Manipur.</strong> The ILP, which can be received after applying either online or physically, states the dates of travel and also specifies the particular areas in the state which the ILP holder can travel to.</li>
<li>According to the <a href="/to-the-points/Paper2/citizenship-amendment-act-2019" target="_blank" rel="noopener"><strong>new citizenship law</strong></a>, the provisions on citizenship for illegal migrants will not apply to tribal areas of Assam, Meghalaya, Mizoram or Tripura as included in the Sixth Schedule to the Constitution and the area covered under &lsquo;The Inter Line&rsquo; notified under the Bengal Eastern Frontier Regulation, 1873.</li>
<li>It needs to be noted that Meghalaya may not have had an ILP regime but <strong>three Autonomous District Councils under Sixth Schedule cover practically the entire state.</strong></li>
</ul>
<div class="border-bg">
<p><strong>Note:</strong> Recently, thet ILP regime has been extended to Manipur after the President of India signed an order in this effect.</p>
</div>
<p><a href="https://indianexpress.com/article/north-east-india/meghalaya/meghalaya-assembly-adopts-resolution-on-inner-line-permit-6175818/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/ilp-in-meghalaya'
	],
	(int) 15 => [
		'title' => 'Sashastra Seema Bal',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>Recently, the<strong> 56<sup>th</sup> Raising Day Parade of Sashastra Seema Bal (SSB)</strong> was held in <strong>New Delhi.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>SSB comes under the aegis of the <strong>Ministry of Home Affairs</strong> and a part of the <a href="/daily-updates/daily-news-analysis/central-armed-police-force-capf" target="_blank" rel="noopener"><strong>Central Armed Police Forces</strong></a> <strong>(CAPF),</strong> along with <strong>six other central security forces in India</strong> (Assam Rifles, Border Security Force, Central Industrial Security Force, Central Reserve Police Force, Indo Tibetan Border Police and National Security Guard).</li>
<li>It was established as <strong>Special Service Bureau</strong> in <strong>May 1963,</strong> in the aftermath of the <strong>Chinese aggression in 1962.</strong></li>
<li>It was declared a <strong>lead intelligence agency for Indo Nepal</strong> in June 2001 and assigned the <strong>Indo Nepal border.</strong> In 2004, it was also assigned<strong> Indo Bhutan border.</strong></li>
<li>In<strong> 2004,</strong> SSB received the <strong>President&rsquo;s Colours</strong> in recognition of the keystone role in national security, since its inception.</li>
<li><strong>Responsibilities:</strong><br />
<ul style="list-style-type: circle;">
<li>To promote a sense of security among the people living in the border areas.</li>
<li>To prevent trans border crimes and unauthorized entry into or exit from Indian territory.</li>
<li>To prevent smuggling and other illegal activities on Indian frontiers.</li>
</ul>
</li>
<li>It is headquartered in <strong>New Delhi</strong> and three frontier headquarters are at <strong>Lucknow (UP), Patna (Bihar) and Guwahati (Assam).</strong></li>
<li>It is spread out on <strong>Indo Nepal and Indo Bhutan borders</strong> across the states of <strong>Uttarakhand, Uttar Pradesh, Bihar, West Bengal, Sikkim, Assam and Arunachal Pradesh.</strong></li>
</ul>
<div class="border-bg">
<p><strong>President's Colours</strong>: It is the highest honour bestowed upon a regiment in recognition of their contribution to the security of the nation.</p>
</div>
<p><a href="https://indianexpress.com/article/india/ssb-must-ensure-borders-with-friendly-nations-not-misused-amit-shah-6175703/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/sashastra-seema-bal'
	],
	(int) 16 => [
		'title' => 'Rhinos to be Re-introduced in Uttarakhand',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>Recently, the <strong>Uttarakhand State Wildlife Board</strong> has cleared a proposal by the<strong> Wildlife Institute of India (WII)</strong> to introduce rhinoceroses in the <strong>Corbett Tiger Reserve (CTR).</strong></p>
<ul style="list-style-type: square;">
<li>Around <strong>10 rhinos</strong> will be brought in CTR in the <strong>first phase</strong> and 10 more would be added subsequently. A proposal will be sent to the Center for transporting rhinos from either Assam or West Bengal or both.</li>
</ul>
<h3>Key Points</h3>
<p><strong>Reasons for Translocation</strong></p>
<ul style="list-style-type: square;">
<li>This has been done to <strong>boost tourism</strong> and <strong>revive the habitats of species that survive on low-height grass.</strong><br />
<ul style="list-style-type: circle;">
<li>Rhinos reduce the size of elephant grass by eating it which would encourage species thriving on lower-height grass like- Hog Deer, Cheetal, Sambar and Swamp Deer.</li>
</ul>
</li>
<li><strong>Geographical terrain and environmental conditions</strong> in CTR are suitable for rhinos.<br />
<ul style="list-style-type: circle;">
<li>Valley habitats bounded on either side by the lower Himalayas (north), Shivalik Hills (south) and the Ramganga Reservoir (east) are the ideal sites. They would act as natural barriers to rhino movement and will minimise <a href="/daily-updates/daily-news-analysis/man-animal-conflict-to-be-listed-as-disaster-by-up-govt" target="_blank" rel="noopener"><strong>man-animal conflict.</strong></a></li>
</ul>
</li>
<li>The rhino&rsquo;s range, <strong>once continuous</strong> across the<strong> flood plains of the Indus, Ganges and the Brahmaputra,</strong> now limited to small fragmented pockets in India and Nepal as a result of anthropogenic pressures and poaching, as per the WWI experts.<br />
<ul style="list-style-type: circle;">
<li>Re-introduction into habitats in the historic range would create safety-net populations for the species and also restore their ecological role in these faunally-degraded habitats.</li>
<li>Rhinos are poached because their <strong>horns are considered an aphrodisiac.</strong></li>
</ul>
</li>
<li>Every translocated animal would be fitted with a <strong>GPS radio-collar</strong> for monitoring their <strong>ranging patterns, foraging habits, demography and habitat use.</strong><br />
<ul style="list-style-type: circle;">
<li>The data will be shared with the Forest Department which would be responsible for the safety of these re-introduced rhinos.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Wildlife Institute of India</strong></p>
<ul style="list-style-type: square;">
<li>It is an autonomous institution under the <strong>Ministry of Environment, Forest and Climate Change.</strong></li>
<li>It was established in <strong>1982.</strong></li>
<li>It is based in <strong>Dehradun, Uttarakhand.</strong></li>
<li>It offers training programs, academic courses, and advisory in wildlife research and management.</li>
</ul>
<p><strong>Corbett Tiger Reserve</strong></p>
<ul style="list-style-type: square;">
<li>It is located in <strong>Nainital district of Uttarakhand.</strong></li>
<li>The <a href="/daily-updates/daily-news-analysis/status-of-conservation-of-tigers" target="_blank" rel="noopener"><strong>Project Tiger</strong></a> was launched in 1973 in <strong>Corbett National Park,</strong> which is part of Corbett Tiger Reserve.</li>
<li><strong>Ramganga, Sonanadi, Mandal, Palain and Kosi</strong> are the major rivers flowing through the Corbett National Park.</li>
<li>There are <strong>50 Tiger Reserves</strong> in India as of August, 2019.</li>
</ul>
</div>
<p><a href="https://indianexpress.com/article/india/bid-to-boost-tourism-rhinos-to-be-re-introduced-in-uttarakhand-6175867/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/rhinos-to-be-re-introduced-in-uttarakhand'
	],
	(int) 17 => [
		'title' => 'Operation Twist',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News</h3>
<p>The <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/important-institutions-national-institution-reserve-bank-of-india" target="_blank" rel="noopener"><strong>Reserve Bank of India</strong></a> has announced that it will carry out <strong>US-style 'Operation Twist'</strong> to bring down interest rates.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li>RBI will conduct <strong>simultaneous purchase and sale of government</strong> securities under <strong>Open Market Operations (OMO)</strong> for ₹10,000 crore each.</li>
<li>It will purchase the longer-term maturities (i.e government bonds maturing in 2029), and simultaneously sell the shorter duration ones (i.e. short-term bonds maturing in 2020).</li>
<li>The eligible participants can bid or submit offers in electronic format on <a href="/daily-updates/daily-news-analysis/rbi-to-buy-g-secs" target="_blank" rel="noopener"><strong>RBI&rsquo;s Core Banking Solution (E-Kuber).</strong></a></li>
</ul>
<div class="border-bg">
<p><strong>&lsquo;Operation Twist&rsquo;</strong></p>
<ul style="list-style-type: square;">
<li>&lsquo;Operation Twist&rsquo; is when the<strong> central bank uses the proceeds from the sale of short-term securities to buy long-term government debt papers,</strong> leading to <strong>easing of interest rates on the long term papers.</strong></li>
<li>Operation Twist first appeared in 1961 as a way to strengthen the U.S. dollar and stimulate cash flow into the economy.</li>
<li>In June 2012, Operation Twist was so effective that the yield on the 10-year U.S. Treasury dropped to a 200-year low.</li>
</ul>
</div>
<h3>Open Market Operations</h3>
<ul style="list-style-type: square;">
<li>Open Market Operations (OMO) is one of the<a href="/daily-updates/daily-news-analysis/rbi-keeps-policy-rates-unchanged" target="_blank" rel="noopener"><strong> quantitative (to regulate or control the total volume of money) monetary policy tools</strong></a> which is employed by the central bank of a country to <strong>control the money supply in the economy.</strong></li>
<li>OMOs are conducted by the RBI by way of <strong>sale or purchase of government securities (g-secs)</strong> to adjust money supply conditions.</li>
<li>The central bank sells g-secs to remove liquidity from the system and buys back g-secs to infuse liquidity into the system.</li>
<li>These operations are often conducted on a <strong>day-to-day basis</strong> in a manner that balances inflation while helping banks continue to lend.</li>
<li>RBI carries out the OMO <strong>through commercial banks</strong> and <strong>does not directly deal</strong> with the public.</li>
<li>The RBI uses OMO along with other monetary policy tools such as repo rate, cash reserve ratio and statutory liquidity ratio to adjust the quantum and price of money in the system.</li>
</ul>
<h3>Benefits</h3>
<ul style="list-style-type: square;">
<li>This simultaneous purchase and sale will bring down interest on long term loans which can lead to<strong> increase in economic spending.</strong></li>
<li>OMOs are primarily done to maintain ample liquidity in the system, which reflects that the <a href="/daily-updates/daily-news-analysis/repo-rate-unchanged" target="_blank" rel="noopener"><strong>RBI is keen that banks should transmit lower rates to borrowers.</strong></a></li>
<li>The action of Operation Twist by the RBI is<strong> encouraging for the market.</strong> This step may become a <strong>driving factor for long-term economic activity</strong> and the addition of new investment stock.</li>
</ul>
<p><a href="https://www.thehindu.com/business/markets/rbi-to-conduct-operation-twist-to-manage-yields-on-dec-23/article30351441.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
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		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/operation-twist'
	],
	(int) 18 => [
		'title' => 'Lessons from NPA Crisis',
		'catname' => 'News Editorials',
		'desc' => '<div class="border">
<p>This article is based on <a href="https://www.thehindubusinessline.com/opinion/some-key-lessons-from-the-npa-crisis/article30331406.ece" target="_blank" rel="noopener"><strong>&ldquo;Some key lessons from the NPA crisis&rdquo;</strong></a> which was published in The Hindu Business Line on 18/12/2019. It highlights the reasons for rising Non-Performing Assets (NPAs) and the lessons that regulators need to learn from it.</p>
</div>
<p>Despite the introduction of <strong>prudential norms</strong> and a<strong> stringent regulatory mechanism,</strong> the Indian banking system is still under continuous stress. According to the data from the <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/important-institutions-national-institution-reserve-bank-of-india" target="_blank" rel="noopener"><strong>Reserve Bank of India (RBI)</strong></a>, <strong>Non-Performing Assets</strong> (NPAs) for unrated loans has <a href="/daily-updates/daily-news-analysis/rising-npas-due-to-unrated-loans" target="_blank" rel="noopener"><strong>increased to 24% (2018) from about 6% (2015).</strong></a></p>
<h3>Problem of Rising NPA Ratio<a href="http://www.drishtiias.com/images/uploads/1576758554_Image3.jpg" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576758554_Image3.jpg" width="305" caption="false" style="float: right;" /></a></h3>
<ul style="list-style-type: square;">
<li><strong>Credit Boom:</strong> The problem of rising NPAs began since<strong> credit boom</strong> which the country witnessed during 2003-04.<br />
<ul style="list-style-type: circle;">
<li>Between 2003-04 and 2007-08, the outstanding <strong>non-food credit</strong> or the <strong>commercial credit</strong> expanded by three times, which during 2007-08 and 2011-12 got doubled.</li>
<li>It was a period during which the world as well as the Indian economy were booming. <strong>Indian firms borrowed furiously</strong> in order to avail the growth opportunities.</li>
<li>Credit booms are generally succeeded by stress in the banking system which actually happened in India. <br />
<ul style="list-style-type: disc;">
<li>The substantial flow of credit to <strong>infrastructure (power, roads, telecom), mining, aviation, iron and steel</strong> was important for growth but these were also subject to severe output fluctuations, which raised a huge burden on the banks. Also, large <strong>Chinese imports</strong> during that period affected the iron and steel industry.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Monetary Policy:</strong> The Reserve Bank of India also followed a <strong>tightened monetary policy</strong> at that time.<br />
<ul style="list-style-type: circle;">
<li>The <a href="/daily-updates/daily-news-analysis/repo-rate-unchanged" target="_blank" rel="noopener"><strong>Repo rate</strong></a> was<strong> increased</strong> from 6% (March 2004) to 9% (August 2008). Also, the <a href="/daily-updates/daily-news-analysis/rbi-keeps-policy-rates-unchanged" target="_blank" rel="noopener"><strong>Cash Reserve Ratio</strong> </a>was <strong>raised</strong> from 4.75% to 9%.</li>
<li>But even after tightening the norms, the <strong>credit expansion</strong> happened which ultimately led to rising NPAs.</li>
<li>However, during 2008, the repo rate and CRR were lowered substantially in response to the <strong>global financial crisis.</strong> There was a mild reversal of this step as was marked by a <strong>slowdown in real growth</strong> (between 2009 and 2012).</li>
</ul>
</li>
<li><strong>Role of NBFCs:</strong> In addition to that, the assets under management of <strong>mutual funds</strong> and credit extended by <a href="/daily-updates/daily-news-editorials/A%20nuanced%20understanding%20of%20the%20NBFC%20sector" target="_blank" rel="noopener"><strong>Non-Banking Financial Company (NBFCs)</strong></a> also expanded enormously during that period.</li>
<li><strong>Stalling Legislative &amp; Judicial Procedure:</strong> Court judgments had an adverse impact on mining, power and steel sectors. There were problems in <strong>acquiring land</strong> and getting<strong> environmental clearances</strong> because of which several <strong>projects got stalled</strong> and consequently, the project <strong>costs soared.</strong></li>
<li><strong>Regulatory Forbearance:</strong> Although there were some regulatory steps that were initiated like <strong>Asset Quality Review</strong> introduced in 2015 which tightened the situation to bring out greater transparency led to a doubling of the NPA ratio in one year. But, by that time, the banks were left with a huge problem with no immediate relief.</li>
<li><strong>Other reasons:</strong> <br />
<ul style="list-style-type: circle;">
<li>With the onset of the<strong> global financial crisis</strong> in 2007-08 and the <strong>slowdown</strong> in growth after 2011-12, <strong>revenues fell</strong> well short of forecasts. As a result,<strong> financing</strong> <strong>costs rose</strong> as policy rates were tightened in India in response to the crisis.</li>
<li>Further, the <strong>depreciation of the rupee</strong> meant higher outflows for companies that had borrowed in foreign currency.</li>
</ul>
</li>
<li>This combination of adverse factors made it difficult for companies to maintain and repay their loans to banks. <strong>Higher NPAs</strong> meant <strong>higher provisions on the part of banks</strong> which rose to a level where banks (especially PSBs) started making losses. Therefore, once NPAs happen, it is important to resolve them quickly, otherwise, the interest on dues causes them to rise relentlessly.</li>
</ul>
<h3>What needs to be done?</h3>
<p><strong>Reserve Bank of India</strong></p>
<ul style="list-style-type: square;">
<li>Regulatory design needs to <strong>quantify financial and business cycles</strong> and take appropriate remedial measures in time in the backdrop of challenges faced by the RBI on account of external factors like the global financial crisis (2008-09).<br />
<ul style="list-style-type: circle;">
<li><strong>As international</strong> experience shows, <strong>increase in compliance cost</strong> does not automatically translate to better regulation. The regulatory regime needs to pinpoint parameters that need special attention for good governance.</li>
</ul>
</li>
<li>Also, as<strong> RBI</strong> has the responsibility to <strong>monitor macro-prudential indicators</strong> (such as overall credit growth). This has implications when the<strong> RBI tightens or loosens monetary policy.</strong> <br />
<ul style="list-style-type: circle;">
<li>Therefore, RBI&rsquo;s concerns must be communicated to the government/owners within time limits, and made public so that informed decisions can be timely taken.</li>
</ul>
</li>
<li>Notwithstanding several measures taken by the RBI, including the 2016 guidelines, the <strong>performance</strong> of the <strong>resolution process</strong> has been <strong>slow</strong> and needs to be reviewed. The <a href="/to-the-points/paper3/insolvency-and-bankruptcy-code-3" target="_blank" rel="noopener"><strong>Insolvency and Bankruptcy Code (IBC)</strong></a> is an important innovation but glitches need to be timely resolved.<br />
<ul style="list-style-type: circle;">
<li>The recent RBI issued <a href="/daily-updates/daily-news-analysis/rbis-debt-resolution-norms" target="_blank" rel="noopener"><strong>new set of norms for dealing with stressed assets/NPAs</strong></a> in the banking sector are a welcome step.</li>
</ul>
</li>
</ul>
<p><strong>Government</strong></p>
<ul style="list-style-type: square;">
<li><strong>The government</strong> has the responsibility for <strong>overall management of the economy</strong> and being the <strong>owner of the banks,</strong> it may push the banks in certain directions. The government must ensure that banks run in the larger national interest but <strong>commercial decisions are best left to bank boards.</strong> <br />
<ul style="list-style-type: circle;">
<li>The relationship between the government and the boards/CEO is still an unresolved question. Therefore, improvement in governance of the boards needs to be done.</li>
<li><strong>Banks&rsquo; Boards</strong> must be empowered to decide on <strong>capital raising plans</strong> from the market within a well-defined framework.</li>
</ul>
</li>
<li><strong>Recapitalisation</strong> may be done in cash rather than through bonds or in some combination.</li>
<li><strong>The government</strong> and regulators need to promote <strong>specialised institutions for project finance</strong> (funding long-term infrastructure/industrial projects, and public services using a limited financial structure). The <strong>promotion of corporate debt markets</strong> both for performing loans as well as distressed loans needs special attention.</li>
<li>Also, reliance on project appraisal by just <strong>one single institution</strong> has entailed losses to a number of small and medium banks. Hence, there is a need for institutionalized mechanism that can efficiently perform such function.</li>
</ul>
<p><strong>Banks</strong></p>
<ul style="list-style-type: square;">
<li><strong>Management: Banks</strong> need to take <strong>responsibility</strong> for the soundness of credit decisions. They need to identify and define their own risk taking capabilities rather than leaning on the big lenders&rsquo; appraisal.<br />
<ul style="list-style-type: circle;">
<li>Banks need to significantly <strong>upgrade</strong> their appraisal and monitoring skills and invest in personnel training. <a href="/daily-updates/daily-news-editorials/solving-the-npa-crisis-in-india" target="_blank" rel="noopener"><strong>Risk management</strong></a> needs to be improved at all levels.</li>
</ul>
</li>
<li><strong>Audit: Assurance systems</strong> (internal &amp; external audits and credit rating) need to be strengthened. <br />
<ul style="list-style-type: circle;">
<li>Given the reported large scale<strong> siphoning (illegal transfer) of funds, round tripping of debt as equity</strong> through dozens of shell companies needs to be checked through<strong> forensic audits</strong> at annual reviews.</li>
</ul>
</li>
</ul>
<p>The need of the hour is a concentrated focus on the part of the government and <strong>efficient implementation</strong> of policies like <a href="/loksabha-rajyasabha-discussions/the-big-picture-tackling-npas-the-new-strategy" target="_blank" rel="noopener"><strong>Project &lsquo;Sashakt&rsquo;</strong></a> so as to effectively tackle the problem of rising NPAs.</p>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr>
<td style="width: 100%; border-style: dotted; border-color: #0a12ff; background-color: #e1ffdb;"><span style="color: #000080;"><em><strong>Drishti Mains Question</strong></em></span><br /><br />Discuss the various reasons behind the rise in NPAs (non-performing assets) in the Indian banking sector and suggest measures to tackle this rise.</td>
</tr>
</tbody>
</table>',
		'postdate' => object(Cake\I18n\FrozenTime) {},
		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-editorials/lessons-from-npa-crisis'
	],
	(int) 19 => [
		'title' => 'Macau to Celebrate 20th Anniversary ',
		'catname' => 'News Analysis',
		'desc' => '<h3>Why in News<a href="http://www.drishtiias.com/images/uploads/1576754224_images5.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1576754224_images5.png" width="372" height="262" style="float: right;" caption="false" /></a></h3>
<p>Macau celebrated the <strong>20<sup>th</sup> Anniversary</strong> since the<strong> former Portuguese colony was returned to China.</strong></p>
<ul style="list-style-type: square;">
<li>The Macau Special Administrative Region (MSAR) is an <strong>integral part of China</strong> and example of China&rsquo;s <strong>"one country, two systems" model.</strong><br />
<ul style="list-style-type: circle;">
<li>"One country, two systems" is a constitutional principle describing the governance of Hong Kong and Macau since they became regions of China in 1997 and 1999, respectively.</li>
</ul>
</li>
<li><strong>Administration:</strong> It <strong>does not practice</strong> China's socialist economic system. Also, it enjoys a <strong>high degree of autonomy</strong> in all matters <strong>except foreign and defence affairs.</strong></li>
<li><strong>Location:</strong> It is situated on the south-east coast of China near the mouth of the <strong>Pearl River.</strong> It is 60 kilometres from Hong Kong.<br />
<ul style="list-style-type: circle;">
<li>Macau consists of the <strong>Macau peninsula</strong> and the <strong>two islands of Taipa and Coloane.</strong></li>
</ul>
</li>
<li><strong>Population:</strong> It is one of the most densely populated areas in the world.</li>
<li><strong>Economy:&nbsp;</strong>Macau is heavily dependent on the<strong> gambling industry with its casinos</strong> contributing about 80% of government income.</li>
</ul>
<p><a href="https://timesofindia.indiatimes.com/world/china/xi-jinping-visits-macao-to-celebrate-20-years-of-china-rule/articleshow/72883721.cms" target="_blank" rel="noopener"><strong>Source: TOI</strong></a></p>',
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		'url' => 'https://www.drishtiias.com/daily-updates/daily-news-analysis/macau-to-celebrate-20th-anniversary'
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		'articles__featuredimage' => 'string',
		'articles.featuredimage' => 'string',
		'featuredimage' => 'string',
		'articles__tag_id' => 'integer',
		'articles.tag_id' => 'integer',
		'tag_id' => 'integer',
		'articles__secondary_tag' => 'text',
		'articles.secondary_tag' => 'text',
		'secondary_tag' => 'text',
		'articles__type' => 'integer',
		'articles.type' => 'integer',
		'type' => 'integer',
		'articles__publishon' => 'datetime',
		'articles.publishon' => 'datetime',
		'publishon' => 'datetime',
		'articles__posturl' => 'string',
		'articles.posturl' => 'string',
		'posturl' => 'string',
		'articles__metatitle' => 'string',
		'articles.metatitle' => 'string',
		'metatitle' => 'string',
		'articles__metadescription' => 'string',
		'articles.metadescription' => 'string',
		'metadescription' => 'string',
		'articles__metakeyword' => 'text',
		'articles.metakeyword' => 'text',
		'metakeyword' => 'text',
		'articles__status' => 'integer',
		'articles.status' => 'integer',
		'status' => 'integer',
		'articles__sort_order' => 'integer',
		'articles.sort_order' => 'integer',
		'sort_order' => 'integer',
		'articles__addedby' => 'integer',
		'articles.addedby' => 'integer',
		'addedby' => 'integer',
		'articles__updatedby' => 'integer',
		'articles.updatedby' => 'integer',
		'updatedby' => 'integer',
		'articles__added' => 'timestamp',
		'articles.added' => 'timestamp',
		'added' => 'timestamp',
		'articles__modified' => 'timestamp',
		'articles.modified' => 'timestamp',
		'modified' => 'timestamp',
		'articles__whatsnewid' => 'integer',
		'articles.whatsnewid' => 'integer',
		'whatsnewid' => 'integer',
		'articles__display_printpdf' => 'integer',
		'articles.display_printpdf' => 'integer',
		'display_printpdf' => 'integer',
		'articles__display_comments' => 'integer',
		'articles.display_comments' => 'integer',
		'display_comments' => 'integer',
		'articles__pdf_name' => 'string',
		'articles.pdf_name' => 'string',
		'pdf_name' => 'string',
		'articles__display_archive' => 'integer',
		'articles.display_archive' => 'integer',
		'display_archive' => 'integer',
		'articles__star_rating' => 'integer',
		'articles.star_rating' => 'integer',
		'star_rating' => 'integer',
		'articles__display_in_states' => 'string',
		'articles.display_in_states' => 'string',
		'display_in_states' => 'string'
	],
	'decorators' => (int) 0,
	'executed' => false,
	'hydrate' => true,
	'buffered' => true,
	'formatters' => (int) 0,
	'mapReducers' => (int) 0,
	'contain' => [],
	'matching' => [],
	'extraOptions' => [],
	'repository' => object(App\Model\Table\ArticlesTable) {}

}
$page = (int) 189
$search = 'class'
$totalPages = (float) 337
$title = 'Search'
$lastyear = (int) 2018
$year = '2021'
$i = (int) 2017
$selected = ''
$m = (int) 13
$month = 'December'

include - ROOT/plugins/Drishti/src/Template/Element/rightsection.ctp, line 100
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1196
Cake\View\View::_render() - CORE/src/View/View.php, line 1157
Cake\View\View::_renderElement() - CORE/src/View/View.php, line 1554
Cake\View\View::element() - CORE/src/View/View.php, line 668
include - ROOT/plugins/Drishti/src/Template/Element/articlebox.ctp, line 5
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1196
Cake\View\View::_render() - CORE/src/View/View.php, line 1157
Cake\View\View::_renderElement() - CORE/src/View/View.php, line 1554
Cake\View\View::element() - CORE/src/View/View.php, line 668
include - ROOT/plugins/Drishti/src/Template/Search/index.ctp, line 85
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1196
Cake\View\View::_render() - CORE/src/View/View.php, line 1157
Cake\View\View::render() - CORE/src/View/View.php, line 765
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 623
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 125
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 93

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