28 September 2015

FM rings bell, formalises Sebi-FMC merger

In the first ever merger of two regulators, over 60-year-old commodities regulatory body today merged with the capital watchdog with Finance Minister ringing the customary stock market bell to formalise the amalgamation.

The Securities and Exchange Board of India (Sebi) Chairman said that the commodities market entities would get a timeframe of up to one year to adjust to the new regulations as they would have to follow the same norms that are applicable to their peers in the segment.

"In order to ensure that nothing is disrupted, there is no discontinuity... We are giving some timeframe so that they can adjust with the new regulations," Sinha said.

The Sebi chief also said that the entire process has "all been very well thought out" and the regulator has also brought out a handbook for the benefit of all entities by making them aware about various rules and regulations.

Sebi's whole-time member Rajeev Kumar Agarwal would oversee the commodities market regulation in the merged entity under the overall guidance of the Sebi Chairman.

At the event, Department of Economic Affairs Secretary Shaktikanta Das said, "Unleashing the process of reforms is a continuous process. We don't wait for the Budget."

Sebi was set up in 1988 as a non-statutory body for regulating the securities markets, while it became an autonomous body in 1992 with fully independent powers.

FMC, on the other hand, has been regulating commodities markets since 1953, but lack of powers has led to wild fluctuations and alleged irregularities remaining untamed in this market segment.

The commodities market has been known to be more prone to speculative activities compared to the better-regulated stock market, while illegal activities like 'dabba trading' have also been more frequent in this segment.

Besides, the high-profile NSEL scam has rocked this market in the recent past and the subsequent regulatory and government interventions in this case eventually led to the government announcing FMC's merger with Sebi.

The announcement for the merger was made by the Finance Minister in his Budget speech earlier this year and he rung the customary bell today to formalise the merger.

This is the first major case of two regulators being merged, as against the relatively more frequent practice worldwide of creating new regulatory authorities, including by carving out new bodies from the existing entities.

At present, there are three national and six regional bourses for commodity futures in the country.

Together, all the exchanges clocked a turnover of nearly Rs 60 lakh crore in 2014-15, from over Rs 101 lakh crore in the previous fiscal.

Isro's PSLV carrying Astrosat launched successfully

Isro's PSLV carrying Astrosat launched successfully
Launch puts India in a select group of countries that have their own space observatory satellite

5 things to know about space observatory satellite Astrosat

The Indian Space Research Organisation (Isro) today successfully launched the satellite. Through this launch, India has joined select group of countries that have their own space observatory satellite. Here are five things you need to know about Astrosat:

* This is India’s first attempt at setting up an observatory in space, a place from where it can study cosmological phenomena.

* Mission is aimed at obtaining data that will help in a better understanding of the universe. Mission is to study astronomical phenomena. Astrosat is carrying five payloads, including an ultraviolet imaging telescope (UVIT).

* Astrosat is generally described as India’s version of the Hubble telescope that NASA had put in space in 1990. But experts say it is not right to call Astrosat India's Hubble as the NASA version is 10 times heavier than Astrosat and is said to cost $2.5 billion, while India's satellite costs around Rs 180 crore.

* Astrosat will put in a very exclusive club of nations that have space-based observatories. Only the United States, European Space Agency, Japan and Russia have such observatories in space. 

* For the third time an Indian rocket will be launching seven satellites in a single mission. In 2008, Isro had launched 10 satellites in one go, including India's Cartosate-2A satellite. 


The Indian Space Research Organisation (Isro) today successfully launched the Astrosat satellite, marking India's entry into a select group of countries that have their own space observatory satellite. 

will help India study distant celestial objects and enhance our knowledge about the universe, said officials.

At 10 am, Isro's workhorse Polar Satellite Launch Vehicle’s XL variant (PSLV-XL) took off from the first launch pad at Sriharikotta Space Station, around 90 km from Chennai, with seven satellites having a cumulative weigh of 1,631 kg.
 
Just over 22 minutes into the flight, the rocket launched Astrosat into orbit at an altitude of 650 km above the earth. Soon after, six other satellites were put into orbit. The entire mission was over in just over 25 minutes.

The unique feature of Astrostat is that it will provide simultaneous multi-wavelength observation of various astronomical objects from a single satellite. 
The Rs 180-crore Astrosat will observe the universe through optical, ultraviolet, low and high energy X-ray components of the electromagnetic spectrum, whereas most other scientific satellites are capable of observing them through a narrow wavelength band. 

"What happened so far is, our scientific community needed to get data from satellites launched by others, now they can get it from Astrostat, which is our indigenous satellite," said A S Kiran Kumar, chairman, Isro.

S Unnikrishnan Nair, project director, Isro said that Astrostat is a gift to the world in the area of astronomy.


The life span of Astrosat is estimated to be around five years. 

"The satellite is doing fine after separation and the satellite centre has confirmed that intended auto operation that has to happen after separation like solar panel deployment and others went well. In coming days payloads will start commissioning one by one, starting from the eight day," said K Suryanarayana Sharma, project director, Astrosat.

With the successful launch of Astrosat, India has joined US, Japan, Russia and Europe, which have their own space observatory satellites.

Other satellites

The rocket also carried six other foreign satellites - four from the US and one each from Indonesia and Canada. This is the first time an Indian rocket is carrying US satellites. 

Antrix Corporation, the commercial arm of Isro, signed a deal to put into orbit nine American nano/micro satellites by the end of 2016. While four US satellites have been put into orbit on Monday, the remaining five would be launcged on a bigger satellite later.

The Indonesian 76 kg LAPAN-A2 is a micro-satellite from the Institute of Aeronautics and Space, meant for providing maritime surveillance using automatic identification system (AIS), supporting Indonesian radio amateur communities for disaster mitigation and carrying out earth surveillance using video and digital camera. 

The 14 kg NLS-14 (Ev9) of Space Flight Laboratory, University of Toronto Institute for Advanced Studies, is also a maritime monitoring Canadian nano satellite using the next generation AIS.

The remaining four LEMUR nano satellites from Spire Global Inc, San Francisco, US, are non-visual remote sensing satellites, focusing primarily on global maritime intelligence through vessel tracking via AIS and high-fidelity weather forecasting using GPS radio occultation technology, Isro said.

Isro officials said the next commercial launch would be for Singapore. 

Tourism Vision Document 2030

Ministry of Tourism launches several new initiatives on World Tourism Day

Medical and Wellness Tourism Board constituted, Tourism Vision Document 2030 released
The Union Ministry of Tourism launched several new initiatives on the occasion of World Tourism Day today.

The Union Minister of State for Tourism(Independent Charge) , Culture (Independent Charge), and Civil Aviation, Dr Mahesh Sharma announced the constitution of the Medical and Wellness Tourism Promotion Board at a function in New Delhi today. The Board has been formed to tap the potential and advantages that India has in the field of medical and wellness tourism. The Centre of Excellence in Hospitality Education to operate from Hotel Samrat in New Delhi was also inaugurated at today’s function. Release of Tourism Vision Document 2030, launch of the revamped website of Ministry of Tourism http://tourism.gov.in/ which has now been made bilingual, release of Audio Visual Presentation ‘ Introduction to India’ and a seminar on the theme of World Tourism Day 2015 “ One Billion Tourist, One Billion Opportunities” were some of the other highlights of today’s function on the occasion of World Tourism Day.

Speaking on the occasion, Dr Mahesh Sharma said that low cost medical facilities are India’s strength and we must take advantage of the same for the purpose of promoting tourism. It is for this reason that the Government took the important decision of setting up the Medical and Wellness Tourism Promotion Board. The Board will have a corpus fund of Rs 2 crore initially, the Minister disclosed. Dr Mahesh Sharma said that the AYUSH facilities will be promoted along with regular medical facilities.

Dr Mahesh Sharma also announced that Discover India fares of Air India. Under the scheme, a tourist can discover India in one or two weeks at a reasonable travel cost. A Tourist can buy 5 coupons for Rs 32,500 (15 days validity) or 10 coupons for Rs 60,000 (30 days validity) for exciting Indian destinations, serviced by Air India & Alliance Air without worrying about ticket price fluctuation. In another initiative, Air India will introduce Incredible Air India holiday packages from 1st December, 2015. Air India will also launch Delhi-San Francisco flight from 2nd December, 2015 onwards which will fly thrice a week, Dr Mahesh Sharma announced.

Secretary, Tourism, Sh. Vinod Zutshi; CMD, ITDC Sh. Umang Kumar; CMD, Air India, Sh. Ashwani Lohani and other Senior Officials and members of the Travel Industry Stakeholders attended the function.

The details of some of the new initiatives launched today are as below:

Medical and Wellness Tourism Promotion Board: The Board will provide leadership of the Government within a framework of prudent and effective measures, thereby enabling promotion and positioning of India as a competent and credible medical and wellness tourism destination. The Board will be chaired by the Union Tourism Minister and consists of members representing the related Government Departments, Tourism & Hospitality sector and experts in the Medical, Wellness and Yoga.

Ashok Institute of Hospitality & Tourism Management – Centre of Excellence : The Ashok Institute of Hospitality & Tourism Management is part of the HRD division of India Tourism Development Corporation Ltd.,(ITDC) a PSU under Ministry of Tourism, Govt. of India. As part of its contribution towards supplying trained manpower to the Hospitality Industry, ITDC has envisioned to set up a Centre of Excellence in Hospitality Education at Hotel Samrat, New Delhi. The courses offered by AIH&TM are a blend of the rich heritage and culture of India and hospitality management education system. It provides the students with a world class contemporary education to have an edge over others in the field.

Tourism Vision Document 2030: The document goes into the challenges for the sector and details the way towards Vision 2030. ‘Tourism vision 2030’ has been commissioned by the Experience India Society and prepared by KPMG.

Launch of Bi-Lingual Website of Ministry of Tourism: The official website of the Ministry http://tourism.gov.in/ has been revamped and translated in Hindi. This Administrative website of the Ministry of Tourism contains the activities and information of all the divisions of the Ministry including the web based E-Recognition System for recognition of Travel Trade Service Providers and Approval and Classification of Hotels.

Audio Visual Presentation ‘ Introduction to India’ : The Indian Association of Tour Operators, the Apex Body of Tourism Industry and especially promoting inbound tourism to our country has produced a 6 minutes AV presentation depicting all tourism products of India and a element of human engagement with the various tourism products . This video presentation is to be used by IATO in all its promotional activities including Road Shows, international travel marts and other industry Interactions.

A seminar on the theme of World Tourism Day 2015 “ One Billion Tourist,One Bilion Opportunities”was held, with Shri Vikram Oberoi, President Hotel Association of India, Shri Subhash Goyal, President Indian Association of India and Shri Atul Bhatnagar, Chief Operating Officer of National Skill Development Corporation as panellists.

Among other important events, a street play was also enacted today at the Dilli Hatt, INA Market by the Students of Institute of Hotel Management, PUSA, New Delhi on the theme “Swachh Bharat Abhiyan-Swachh Bharat Swachh Paryatan”. Speaking on the occasion, the Tourism Minister, Dr Mahesh Sharma made an appeal to provide clean, safe and hospitable environment to the tourists. It is our moral responsibility to conduct ourselves properly with the tourists and especially foreign tourists, he added. The students performed the play at regular intervals throughout the day to sensitize the tourists and visitors to Dilli Haat about keeping India clean. 

Expert committee constituted to revisit IAS exam pattern: Dr. Jitendra Singh

Expert committee constituted to revisit IAS exam pattern: Dr. Jitendra Singh
The Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh disclosed that as a follow-up to the decision taken by the government in the month of May this year, an expert committee consisting of leading academicians, technocrats and senior bureaucrats of national repute has been constituted to revisit the entire pattern, syllabus and eligibility criteria for IAS / Civil Services examination. He was speaking to a group of civil services aspirants, here today.

Dr. Jitendra Singh said that based on the report of the Committee, further changes in the civil services exam pattern will be contemplated with the primary objective of providing a level playing field to aspirants from diverse streams of curriculum like mathematics, engineering, medicine or humanities and at the same time, also ensuring that the youngsters who took up IAS as a career possess a genuine aptitude for administrative job.

Till such time as the recommendations of the expert committee are received and the government subsequently takes a decision on the same, Dr. Jitendra Singh clarified that the General Studies Paper-II (CSAT) in the Civil Services Preliminary Examination will remain a qualifying paper with minimum qualifying marks fixed at 33%. Meanwhile, the DoPT’s decision taken last year to exclude the English portion consisting of 22 marks in the General Studies Paper-II of the Civil Services Preliminary Examination from tabulation also continues to remain in force, he added.

Reiterating the Narendra Modi government’s resolve to provide “maximum governance” and “ease of governance”, Dr. Jitendra Singh said, the decision to revise the IAS pattern was a path-breaking one and aimed to achieve the basic objective of ensuring that the best and the most deserving with a genuine aptitude, should get the opportunity to become a part of the administrative set up of rapidly developing 21st century India.

Dr. Jitendra Singh recalled that soon after the present government took over on May 26, 2014, it was confronted with the demands from across the country for revisiting the pattern and syllabus of Civil Services examination. After prolonged deliberations at different levels, he had himself personally studied the question papers of the last 3 years of IAS / Civil Services examination and come to a conclusion that the issue deserved to be re-looked in the background of inputs received from different quarters. It was also being alleged that the present syllabus and pattern tended to benefit students from mathematics and engineering backgrounds, he said. At the same time, there was also risk of the aptitude becoming a casualty in the pursuit of a secure IAS career, he observed. 

India has the makings of becoming the “clean energy world capital.”

PM’s roundtable on renewable energy


The Prime Minister, Shri Narendra Modi, today chaired a roundtable meeting on renewable energy, with top energy CEOs and experts, in San Jose.

Dr. Ernest Moniz, Secretary of Energy, United States; and Prof. Steven Chu, former US Secretary of Energy were present at the roundtable meeting.

Top energy CEOs and investors, including Ahmad Chatila, CEO SunEdison; Nikesh Arora, President and COO, Softbank; K.R. Sridhar, CEO, Bloom Energy; Jonathan Wolfson, CEO, Solazyme; John Doerr, Venture Capitalist; and Ira Ehrenpreis of DBL partners were present.

Prof Arun Majumdar, Prof Roger Noll, Dr. Anjani Kochar, and Prof. Sally Benson, all from Stanford University, participated.

Among the views expressed at the roundtable, was a clear assertion that India has the makings of becoming the “clean energy world capital.” 

The participants said that clean and renewable energy will soon be an inexpensive energy option, with electricity storage becoming cheaper. Participants were of the view that States and Cities in India should be allowed to take the lead in clean energy initiatives. A related thought was that the current grid is not designed for carrying the 175 GigaWatts (GW) of renewable energy that India is targeting, and therefore a complimentary effort is required on the grid side. Private investment was emphasized as vital for realizing the vision of 175 GW, with a parallel example being given of how Israel had solved its water shortage using private investment.

Experts were of the view that India has to address issues in four key areas – viz. technology integration; finance; regulatory frameworks; and the right talent pool. They also expressed concern at the financial status of power distribution companies (Discoms) in India.

The CEOs present gave a brief overview of the technologies and innovations being used in their companies. In addition to solar and wind energy, biomass was also suggested as a key provider of clean energy.

The Prime Minister thanked the participants for their views, and emphasized India’s commitment to realize the vision of 175 GigaWatts of clean energy. He said there is massive scope of investment in the sector, for example, through the Railways, where 100 percent FDI has been allowed. He said the Government is working to address issues in regulation, and address the financial health of Discoms.

The Prime Minister also gave an overview of initiatives already undertaken in the area of renewable energy, such as Kochi Airport becoming a solar-powered airport, and solar panels being installed over a canal in Gujarat. He said that early next month, a district court in the tribal belt of Jharkhand will become entirely solar-powered. The Prime Minister also mentioned coal gasification as an important area of research. He expressed confidence of a renewable energy revolution over the next decade. 

27 September 2015

SAMVEG IAS MAINS TEST SERIES


US, India and security in the Asia-Pacific


That are at the nexus of a new beginning shaping the Indo-Pacific is no surprise. PM Modi's second visit to the US at the beginning of his second year in office only reiterates the importance of this relationship. Although is in New York to attend the 70th annual session of the (UNGA), he will also be in Silicon Valley to interact with business leaders and address the Indo-American community, before meeting President Obama. The presence of Chinese President in the US at the same time only is testament to the dynamics brimming in Asia. While Modi is scheduled to meet with Obama on September 28, Xi had his meeting at the White House on September 25.

Modi talked about eliminating poverty, tackling climate change and reforming the UN including the Security Council, at the UNGA. These same issues also find their way in the India-US bilateral talks along with other issues such as defence cooperation and Af-Pak relations. The joint statement at the recently concluded maiden India-US strategic and commercial dialogue underlines the growing ambit of this relationship. Washington has voiced its support for India's permanent membership of the UNSC and in the Missile Technology Control Regime. Both sides also recognised the India-US partnership as a significant contributor to peace and stability in the and Asia-Pacific regions. India forms a significant factor in US policy for the Asia-Pacific and that is why maritime security dominates the agenda on both sides when it comes to regional collaboration in the Indian Ocean and the Asia-Pacific. In the backdrop of Modi's upcoming meeting with Obama, it is worth examining the US-India potential in the Asia-Pacific and Indian Ocean regions.

Washington currently is keener on India playing an active security role than New Delhi is willing to take on. Support from the US for such a role for India has been tremendous. The article in Foreign Policy - "How India and the United States Are Building a 21st-Century Partnership" - by US Secretary of State John Kerry and Secretary of Commerce Penny Pritzker, capture the contours of this support building up in US policy for the region. China's dramatic rise and expanding ambitions for the region steered Washington's attention back to the Asia-Pacific sooner than it would have liked. While officials and diplomats continue to assert that American presence in Asia needs no validation, the fact remains that Washington would prefer a network of partnerships to sustain its influence in the region. The (DoD) is paying special attention to the Asia-Pacific by engaging with old and new friends, keeping in line with its rebalance strategy. In all of this, it is easy to place India's role as the lynchpin.

India looms large in implementing the recent US DoD report, Maritime Security in the Asia Pacific. Released on August 21, the document re-emphasises Washington's commitment, building on Secretary of Defence Ashton Carter's visit to the region in May-June this year. While the report is careful in not targeting China directly, the objectives outlined underpin Beijing as the problem that America has to address in the Asia-Pacific. Combining American objectives with its strategic interests, the document identifies collaboration and strengthening of American allies and partners as the crux in achieving its goals too. Washington particularly "sees a strategic convergence between India's 'Act East' policy and the US rebalance to the Asia-Pacific region" and is "seeking to reinforce India's maritime capabilities as a net provider of security in the Indian Ocean region and beyond".

India playing an active security role is to its advantage, as Chinese expansion into the Indian Ocean has been gradually increasing. While New Delhi has picked up its pace under the Modi government, which has invoked a sharper policy in the maritime domain, it may be struggling to sustain the momentum.

The changing security dynamics in the Indian Ocean and the Western Pacific are primarily due to an increase in Chinese activities fuelled by the great Chinese dream. Territorial disputes and strategic conflicts in the high seas is a new domain of strategy in Asia - an area which has not been tested as yet. There is a fair amount of nervousness surrounding China's forays into the Indian Ocean and the developments in the East and South China Seas. While the Chinese presence in the Indian Ocean is now a reality, the challenge lies in the uncertainty surrounding the security environment that such a change may bring about. It is unknown whether China is attempting to alter the existing architecture or just tweaking it enough to accommodate itself at the great powers table. Hence, Washington appears to be moving towards a network of coalitions to uphold the current international order and secure its strategic interests.

The Indian response so far has been encouraging, though not at a pace that Washington or other Asean members desire. New Delhi is particularly worried about Chinese investments in Sri Lanka, Maldives and other island nations in the Indian Ocean. The Maritime Silk Road (MSR) initiative running through the Indian Ocean is another area of concern for India. New Delhi is responding by stepping out of its rigid non-alignment policy and collaborating with the navies of the region, both at a bilateral and multilateral level. Although under the Modi government India signed the "US-India Joint Strategic Vision for Asia Pacific and the Indian Ocean Region" and is taking a firm stand on freedom of navigation through the South China Seas, India is unlikely to get deeply involved in the tensions in the Western Pacific.

In the Indian Ocean however, New Delhi must take Washington's support and emerge as a credible net security provider. The Indo-US partnership in this domain carries more strategic advantages than drawbacks. But there are other areas of friction in the Indo-US relationship that may hinder New Delhi's ability to realise the potential of such collaboration: Obama's meeting with both Xi and Modi at the end of this month will provide an insight into the next step of the Indo-US relationship.

The writer is with the Observer Research Foundation

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UKPCS2012 FINAL RESULT SAMVEG IAS DEHRADUN

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