Page no. 1
After Xi, Modi to host Abe in Gandhinagar next week
Prime Minister Narendra Modi will hols bilateral talks with visiting Japanese Prime Minister Shinzo Abe in Gandhinagar on 14th September. This is the second time the PM Modi would be hosting a visitng leader and also holding bilateral talks in Gandhinagar in Gujarat. The last time PM Modi held meeting was with Chinese President Xi Jinping on September 2014. India and Japan has shared cordial bilateral relations among them with both countries sharing cultural exchanges and having a suuperior degree of political, economic, and strategic interests. Both India and Japan are old and largest democracies of Asia and both view each other as partners having common responsibility to respond to global and regional challenges. Japan was the sole country to have conveyed its uniequivocal support for India and Bhutan through diplomatic channels during the Doklam standoff between India and China. PM Modi and Abe would hold tha talks in Gandhinagar and also give a go ahead together for the ambitious Mumbai-Ahmedabad High Speed Rail Project, commonly known as the bullet train project. This project is estimated to be a cost of Rs 98,000 crore. When PM Narendra Modi visited Japan in September 2014, Japanese PM Abe flew down to Kyoto to receive him and together they flew to Tokyo to holld bilateral talks. Again when Modi visited Japan last year, Abe travelled with him to Kobe in a bullet train. When Japanese PM Abe visited India in 2015, Modi and Abe travelled to Varanasi and witnessed te Ganga Aarti together at Dashashwamedh Ghat. As the Japanese PM visited Delhi many times, this time Modi wanted to take him outside Delhi. During Abe's visit this year, the two leaders would discuss a multitude of issues including defence, Asia Pacific, nuclear cooperation and joint development of projects. Before the scheduled Japanese PM's visit, Foreign Secretary of India S Jaishankar stated that Japan can make a good difference to the nuclear industry and identified cooperation in civil nuclear energy and defence as the two domains hwork as a backdrop for biltaral talks during the visit. India and Japan earlier signed a civil nuclear deal during the visit of PM Modi to Japan in November 2016. This deal, which came into effect on July 2017 enabled Japan to successfully export nuclear power plant technologies to India.
Page no. 2
Presence of Rohingyas may lead to another partition: Govindacharya
Former RSS ideologue K N Govindacharya moved the Supreme Court on Friday seeking the deportation of Rohingya refugees from India. He stated that the continued presence in India may lead to another partition of the country. According to the plea by the ideologue, it stated that as terror groups like Al Qaeda is trying to use the Rohingya community for terror activities and jihad, and if the Rohingyas plea is accepted, then there might be another partition in India. The Rohingya population are the most persecuted and deprived ethnic Muslim community from Myanmar. Residing in the Rakhine province of Myanmar, they have been shunned by Myanmar who declared the Rohingyas as outsiders and not as the original ancestors of the Burma. This led to the Rohingyas losing all citizenship rights, any access to work or other facilities. Also the recent attacks on them by the Arakan Rohingya Salvation Army and other Buddhist gropus in Maynmar have led them fleeing to neighbouring countries India and Bangladesh for refuge. The plea also mentioned that as the Rohingyas don't have any constitutional rights for residing in India, their deportation would be in accordance with the exercise of sovereign power as vested with the central government and their deportation also doesn't violate international law. It also said that the population explosion was taking a toll on the resources of the country and so the influx of Rohingyas needs to be checked. Earlier two Rohingya refugees Mohammad Salimullah and Mohammad Shaqir filed a petition which will come up for hearing before a three-judge bench in Supreme Court on 11th September. The refugees have claimed to have taken refuge in India after escaping from the discrimination and violence experienced in Myanmar.
Page no. 7
Gadkari: No rise n budget if projects not implemented
The Union Minister for Road Transport, Highways ad Shipping Nitin Gadkrii warned the 'non-performing' state governments to expect major reductions in the Central budgetary support if the states fail to improve and fasten the implementation of projects. The Minister said that the Centre is happy and willing to extend support for the states which are trying to imporve the transportation facilities and public transport in particular. However, the states which are unwilling to perform, they should not expect improvement in budgets. The statement by the Minister is given after his warning to all automobile companies which flout pollution norms. Nitin Gadkari also welcomed the public transport services that are offered by five southern states and also urged other states to follow them. He urged the CIRT toinvest in studying all technology as well as futuristic fuel of futuristic vehicles including the Liquid Natural Gas and methanol. It is because methanol costs Rs 22 per litre and when used in public transport vehicles, it would reduce the costs as well as help in reducing pollution.
Page no. 17
Sebi proposes raising minimum networth from Rs 5cr to Rs 50cr
The Securities and Exchange Board of India (Sebi) released a consultation paper on the review of a regulatory framework of the credit rating agencies (CRA). In the paper, it proposed raising a minimum networth required for registering a CRA from Rs 5cr to Rs 50cr. The regulatory board also proposed to put a cap to the cross holding in Sebi-registered CRAs to 10%. This would mean that no CRA can hold over 10% in another CRA. Through the paper, the regulator also sought comments from the public on the proposals whcih are expected to imporve the market efficiency by a reduction of the information assemetry in the market and also for enhancing the governance, accountability and the functioning of CRAs for carrying out rating activitie efficiently. The Sebi regulator also wants rating agencies to have atleast 5 years of experience in conducting business in the financial services sector. According to the Sebi consultation paper, the acquisition of shares and the voting rights of a CRA resulting in the change in control might be permitted with an approval in advance from Sebi. A shareholder that holds 10% or more shares as well as voting rights in a registered CRA will not hold 10% or more shares and voting rights in any other CRA. However, this rule won't apply to any holding by borad-based domestic financial institutions. The proposed norms by sebi would have an impact on other global agencies like S&P, Moody's and Fitch which hold significant holding amount in domestic agencies. The rating agencies are directed to present a regulated summary sheet which presents a snapshot of rating action carried out throughout the year. The summary report also needs to be uploaded on their websites annually, both seperate for financial instruments and securities. Sebi also proposed a norm directing the CRAs to give off any associate activity other than the assigned rating of financial instruments and economic research to a seperate entity.
Page no. 14
Protect the dissenter
To evaluate the democratic entity of a country, the simple method is to check its tolerance of the dissent and the protection offered to the dissenter. The example of the premediated murder of Gauri Lankesh can be a living example to that. It is an obvious fact that different people in a society would have different views on what is good or what is beneficial for a country. An efficient and truly tolerant society would provide a fair field and honest race for all-radicals, reactionaries, industralists, workmen, religious, capitalists, free thinkers, communists as well as the self-appointed saviours of mankind. In such a society, the dissenter should feel free to express his/her views without any fear. The only thing required in this situation is non incitement to violence. Courts across India recognized the right to dissent. In the eyar 1967, in the case of Anant Karandikkar, the High Court of Bombay ruled that it is essential in the freedom of press that everyone has the priviledge of giving their opinions- unpopular or distasteful as right to dissent is the prime base of a democracy. On 12th November, 1974, the Supreme Court of India stated in a observation that peaceful protests and expressing a contrary opinion are powerful weapons in a democratic society. As such, it is highly unconstitutional to pick up a peaceful protester and get him behind the bars. The opinion of the dissent is essential for the advancement as well as the progress of a society. It is the essential duty of a state to protect the dissenter and not to impose penalties on the person for dissenting any views. It is also the duty of the state to punish the ones who violently target the ones having dissenting views.