![]() ![]() RBI gets applications for ‘on tap’ licences: Topics Covered: Inclusive growth and issues arising from it. The US Treasury department defines currency manipulation as when countries deliberately influence the exchange rate between their currency and the US dollar to gain “unfair competitive advantage in international trade”. India met two of the three criteria - the trade surplus criterion and the “persistent, one-sided intervention” criterion.The other 10 countries on the list with India are China, Japan, Korea, Germany, Ireland, Italy, Malaysia, Singapore, Thailand, and Mexico.India was on the list in the December 2020 report as well.India is one of the 11 countries on the ‘Monitoring List’ with regard to their currency practices.Persistent one-sided intervention in forex markets.A significant (at least $20 billion) bilateral trade surplus.Three criteria are used to review partners: Congress and reviews currency practices of the U.S.’s 20 biggest trading partners. The April 2021 edition of the semi-annual report is the first from the Biden administration. Treasury has released the report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. ![]() Treasury keeps India on currency watch list: Topics Covered: Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora. However, it is time to institute checks and balances.” Discuss. ![]() “The Supreme Court’s use of its vast powers under Article 142 has done tremendous good to many deprived sections. Examples of invocation of Article 142 by the Supreme Court.Article 142(1) states that “The Supreme Court in the exercise of its jurisdiction may pass such decree or make such order as is necessary for doing complete justice in any cause or matter pending before it, and any decree so passed or order so made shall be enforceable throughout the territory of India in such manner as may be prescribed by or under any law made by Parliament and, until provision in that behalf is so made, in such manner as the President may by order prescribe”.While there may be a case against a complete lockdown, it was essential to put a stop to mass gatherings that spread the COVID-19 infection.Īrticle 142 “provide(s) a unique power to the Supreme Court, to do “complete justice” between the parties, i.e., where at times law or statute may not provide a remedy, the Court can extend itself to put a quietus to a dispute in a manner which would befit the facts of the case. It is officially acknowledged and medically confirmed that the life-threatening surge in the number of corona cases, which is highest in the world, is substantially on account of a free run enjoyed by the super-spreading events, including political rallies, religious congregations and festive events. He asked the Supreme Court to issue suitable directions suo-moto in the exercise of its plenary jurisdiction (Under Article 142).Plenary jurisdiction of Supreme Court:įormer law minister Ashwani Kumar has written to the Chief Justice of India (CJI) and other judges of the top court urging them to take note of the worsening COVID-19 situation and issue “suitable directions” to the Centre and State governments to ban political rallies, protest assemblies and religious or festive congregations of more than 50 people. Topics Covered: Indian Constitution- historical underpinnings, evolution, features, amendments, significant provisions and basic structure. ‘Whitest ever’ paint that can reflect 99 per cent of sunlight.Ĥ. Iran says it has started enriching uranium to 60%.ģ. RBI gets applications for ‘on tap’ licences.Ģ. Treasury keeps India on currency watch list.ġ. Plenary jurisdiction of the Supreme Court.Ģ. This helps you study a topic holistically and add new dimensions to every current event to help you think analytically.ġ. InstaLinks also connect every issue to their static or theoretical background. These linkages provided in this ‘hint’ format help you frame possible questions in your mind that might arise(or an examiner might imagine) from each current event. InstaLinks help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. ![]()
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