The Hindu Analysis – 8th Nov 2017

• • 23rd conference of the UN Framework Convention on Climate Change
  • Giving practical form to the provisions of the Paris Agreement.
  • 2015
  • 169 countries have ratified the accord
  • Benchmark of raising $100 billion a year by 2020
  • to keep a rise in global average temperature below 2º C, preferably 1.5º C.
  • India has committed itself to lowering the emissions intensity of its GDP by 33-35% by 2030 from the 2005 level.
  • By some estimates, India has been awarded among the highest levels of multilateral climate funding at $745 million since 2013.
  • acquire the capacity to absorb such assistance efficiently.
  • Bonn faces the challenges
  • U.S one of the top emitters of greenhouse gases (GHGs) wants to withdraw
  • China is firmly behind the pact to reduce the risk of climate change.
  • There is steady progress in the growth of renewable energy.
  • Corporate earnings show a mild recovery
  • Both revenue and profits have shown slight improvement
  • This is comforting news for many who feared that the twin shocks of demonetisation and the hasty implementation of the GST would have significant medium to long-term effects on the economy.
  • Note

• Most analysts had revised their earnings estimates downward
• Profit growth through cost-cutting rather than superior revenues.
• Expensive valuations at which Indian stocks.

• November 8: Anti-Black Money Day
• Goal: shifted so fast
• Both former RBI Governor Raghuram

1. Demo a weak weapon
2. Govt ignored expert advice

• 99% of the demonetised R500 and R1,000 notes back in the banking system
• Tax authorities say that they are investigating suspicious accounts.
• Procedures are time-consuming; there are limitations of administrative and judicial capacity. 
• Electorally, voters may judge the policy in terms of intent rather than outcomes.

Nov. 8 was a black day: Manmohan

• The Government ban on 500 and 1000 rupee notes is completing one year today
• Finance Minister Arun Jaitley on demonetisation

1.Terror funding was squeezed
2.Shell companies are now being easily identified

3.He termed demonetisation as a watershed moment in the history of the country’s economy.
4.More money came in mutual funds, capital market after demonetisation.
5.Huge push towards formalisation
6.Added more strength to digital transactions by giving digital payments a significant boost
The PMO also referred to cheaper loans and affordable homes as an outcome of note ban.

• Tunisia and India discussed the possibility of exchanging informationintelligence, and putting security agencies in contact to develop more cooperation on terror.
• Terrorism is not specific to one country; it has no religion, and no boundary.
• In 2015 and 2016, Tunisia was struck by major attacks (including the Sousse Beach massacre, where a gunman killed 38, and the Tunis museum attack where Islamic State gunmen killed 21
• Tunisians form one of the largest group by nationality of foreign fighters in Syria
• One of the big problems is satellite television that broadcasts religious programming that is not in tune with the general understanding of religion.
• In some countries is the backlash of immigrants, those who are not well integrated, and are reacting to ill treatment in those countries.
• Any regime change by an outside power is a mistake.
• It has to be a genuine change by the will of the people.
• India-Tunisia bilateral trade hasn’t moved up however, in 2016 it stands at just about $370 million.
• goal announced, of $1 billion.
• Fertilizers constitute a major part of the trade between us for the last 45 years.

• All primary schools in Delhi will remain closed tomorrow due to rising pollution in the city.
• Delhi Deputy Chief Minister Manish Sisodia said if needed, the order will extend till Thursday.
• He said schools have been advised not to hold any outdoor activities, including morning assemblies.
• The Supreme Court mandated Environment Pollution (Prevention and Control) Authority, EPCA, has recommended four-fold hike in parking fees to tackle the severe air quality in Delhi- NCR.
• The EPCA met in New Delhi today in the backdrop of worsening air quality in the region and announced a series of measures including complete closure of brick kilns, hot mix plants and stone crushers across the region till further notice.
• The Centre has appealed to Delhi and adjoining states to take effective steps for mitigating the levels of air pollution in NCR and bring them to acceptable levels.

Andaman’s new taste is sweet-and-sour

• Islands are a biodiversity hotspot that hosts seven different species of wild banana that we know of, not to mention numerous, as yet undocumented, others.
• Musa paramjitiana, in honour of Paramjit Singh, who happens to be the director of the Botanical Survey of India (BSI).
• Its conservation status has been declared as ‘Critically Endangered’ as it has so far been spotted in only two locations on the islands, each with 6 to 18 plants in a clump.
• Musa indandamanensis, another wild banana, was discovered 2014, in a remote tropical rain forest on the Little Andaman island.

Six Maoists gunned down

• In Chhattisgarh, security forces have gunned down six Maoists, including a woman, during an encounter in Narayanpur district of Bastar region.
• The encounter took place at Irpanar and Dhurbeda area of Narayanpur district in Chhattisgarh.
• Special Director General of Police (Anti-Naxal operations) D M Awasthi told that all those killed in the encounter were hardcore Maoists.
• Police also recovered eight guns and a pistol from the spot.
• Security forces are conducting an Operation in Maoist affected districts including Narayanpur, Bijapur, Sukma and Dantewada.
• About two thousand jawans of District Police, Special Task Force, District Reserve Group and CRPF have been deployed in this operation.
• 

Sharma reaches out to J&K parties

• The Centre’s special representative on Kashmir Dineshwar Sharma held a series of meetings with civil society and youth groups today on day two of his visit to the Valley.
• Mr Sharma is on a five-day visit to the state.
• He is expected to meet political leaders tomorrow as part of efforts to talk to various stakeholders and find lasting peace in Jammu and Kashmir.

Hopes rise as GST Council meets tomorrow

• The Goods and Services Tax Council, which meets in Guwahati on November 9 and 10, is expected to follow through on Prime Minister Narendra Modi’s promise last Saturday to solve all grievances of small businesses under the GST regime and ease the burden on consumers by bringing nearly 80% of all goods taxed at the highest slab of 28% into the 18% tax bracket.
• The council is likely to consider a proposal to allow all taxpayers to file their returns on a quarterly basis instead of every month with easier forms to simplify the fledgling indirect tax regime.

Direct Tax collection gone up

• Direct tax collection has increased by 15.2% during April to October this year as compared to the corresponding period of last year.
• The government has collected 4.39 lakh crore rupees during the first seven months of the current fiscal.
• The collection, which includes personal income tax and corporate tax, represents 44.8 per cent of the total budget estimates in direct taxes for 2017-18.
• Finance Ministry said the gross collections have increased by 10.7 per cent to 5.28 lakh crore rupees  during April- October 2017.
• Refunds amounting to 89,507 crore rupees were issued during the seven month period.

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