THE HINDU 10-06-23
- Economy on Autopilot mode, won’t overheat for years.
Chief Economic Advisor (CEA) V. Anantha Nageshwar While talking to CII (Conference of Indian Industries) told following major points about Indian economy : –
- GDP to grow 6.5%-7% from 2023-24 to 2029-30, even without reform.
- Reform of factor market, skilling ecosystem could spur growth to 7.5% or even 8%.
- India can grow like China did between 1979 and 2008 from now on.
- Unresolved problems are “low hanging fruit” that will unlock more growth.
- will regulate AI if it brings harm to users, says Rajeev Chandra Shekhar.
Minister of State for Electronics and Information Industry (MoS-Meitu) Mr. Rajeev Chandra Shekhar on Friday said :
About Regulation of AI (Artificial Intelligence)
Regulation of AI in India will be done throught the “prison of user harm”.
“we will not let platform that cause harm to Digital nagrik (citizens) to operate in India. If they do operate, they will have to mitigate those harm”.
About a question about Job loss due to rise in AI.
“he said “I can assure you that while AI is disruptive, we do not see in the next in the next few years the so called threat of it replacing or removing jobs. AI is very task oriented, not reasoning or logic oriented. AI is not that sophisticated at this stage.”
About New Data Protection Bill
He accussed congress of not removing “safe harbour” clause.
Safe harbour clause – A social media or similar digital platform won’t be responsible for post that user. Loads on that Govt. is lowliving to remove safe harbour clause.
- SC turns down urgent hearing of Manipur Internet ban.
The Petitioner had told that despite govt. claiming “de-escalation” in violence, internet ban has not been removed.
Supreme Court vacation Bench on Friday said it has found no reason to step in and urgently entertain the Petition.
- Elderly woman among three killed in attack on Kuki village, CBI forms SIT to probe 6 cases.
One elderly woman is among three killed by “unidentified miscreants” in an attack on Kuki village in Manipur’s Kangkopki district on Friday.
Villagers have blamed Meitei militant behind the attack.
- Piped portable water across India will avert 4,00,000 diarrhea deaths, finds WHO.
Jal Jeevan Mission (JJM) under this Centre has told that all will be covered by tap water facility by 2024.
Functional tap water connection is defined as a household getting 55 liter water per capita per day.
Till now five states Gujrat, Telangana, Goa, Haryana and Punjab and three UTs Andman & Nicobar, Dadra and Nagar Haveli, Daman and Dip ahs 100% coverage under JJM.
A study by WHO published has told that India would be able to avert 4,00,000 deaths from diarrhea in a year by providing piped water.
- Trump charged with 37 counts in classified document case.
Former US President Donald Trump has been indicated of mishandling classified documents at his Florida estate residence.
The indictment accusses Mr. Trump to inappropriately removing swres of boxes from the white house and take them to Mar-a-Lago, residence in Florida. Top secret records home that include details of foreign nation’s nuclear capabilities.
The indictment indicates to possibility of prison if Mr. Trump8 is convicted. These can affect 2024 Presidential results also.
- Russia to deploy nuclear weapons in Belarus in July.
Russian President Vladmir Putin recently said that Russia will deploy tactical nuclear weapons in Belarus after special storage facility is available by July 7-8. This will be first such step in which Russia will be deploying such weapons outside Russia.
In March Mr. Putin announced that he will be deploying tactical nuclear weapons to Belarus.
Tacital Nuclear weapons – These are smaller in explosive power. Used in bottlefied situation.
Stretegic Nuclear weapons- very high explosive power.
- Russia-China ties offer global stability Russian armed forces Chief of staff valery Gerasimov, on Friday said that his country’s strong millitary partnership with China provides stability around the world with his Chinese counterpart, Lia Zhenli.
- Sudan’s warring partial agree to a 24 hour ceasefire, according to Joint statement by US and Saudi mediators.
- ‘US spreading rumours’ with China setting up Cuba Spy hub.
US Newspapers Wall street Journal had reported that China and Cuba has reached a deal to set up an electronic evedropping facility.
China said “spreading rumour and slander” is a common US facility.
EDITORAL – 1
Price stability is a public good and must remain a non-negotiable goal.
What the editorial is all about ?
In its recent meeting of Monetary Policy Committee (MPC) told to keep policy rate unchanged at 6.5%. The Price stability was told to be the main reason behind this. Editorial talks about it.
About Policy rate, and MPC
Policy rate – Also called Repo Rate is interest rate at which RBI borrows money to banks. It is a tool to control inflation.
Monetary Policy Committee (MPC) a 6 member committee under RBI is headed by RBI governor and time to time decides, about changes in policy rate.
In 2022 it increased policy rates in five of its meetings.
About recent MPC meeting.
Policy rate has been decided to keep untouched, Price stability (not letting prices of commodities increased) is the main reason behind this.
RBI Governor Shaktikanta Das asserted “The best constribution of monetary policy to the economy’s ability to realise its potential by price stability”.
About recent trends in inflation
MPC’s focus on price stability means that it wants to bring inflation under 4%. Since 2021, most of the time inflation was above 6%.
Headline inflation in 2022-23 – 6.7%.
Headline inflation – Total inflation (Food+energy+others)
Core inflation- Inflation in all commodition except food and oil.
Government’s maximum ceiling for headline inflation is 6%.
CPI inflation in March-April has eased down to 4.7%.
- Other factors that gave weightage to MPC’s decision.
This year being EL Nino year which can be len favourable for agriculture output, international commodity prices being volatile, geopolitical tension giving high unpredictability are some reason.
Also, raising policy rate though decreases inflation but has bad effect on credit system, len credit and investment is seen in market, thus affecting economy.
With Donald Trump’s indictment, the US Polity will see further polarization.
What the editorial is all about ?
Donald trump has been indicated by Department of Justice (DoJ) into mishandling of classified documents. The editorial says that this will further polarize 2024 elections.
About indictment of Donald Trump.
In US, before a case moving to court, a Jury decided whether there is adequate basis of charges on person. If the Jury in convicted only the after its assert the crime is referred to courts.
This is called “indictment” – means Jury has asserted the Charges having weight and will be trialed in court.
Donald Trump has been indicted by Federal grand Jury into mishandling of hundreds of classified documents.
The Prosecutor has said that Mr. Trump deliberately withhold sensitive documents even after they demanded return of such sensitive papers, even after they were asked to return its these papers were recovered in search from his Mar-a-Lago residence in Florida.
Trump is currently undergoing criminal charges over payment of Hush money.
Also investigation is going in charges of trying to throw away 2020 elected govt.
- Effect of these on 2024 Presidential election.
Mr. Trump has accussed Democrats “witch hunt” against him before 2024 elections.
Mike Pence has filed to ran for Presidential election from Republican side. But still Trump seems to win 2024 Candidature from Republic side.
And there are high chances that Mr. Trump will be fighting against.
Joe Biden in next elections. Hoe these cases affect election results will have to look into.