1)Culture of Karnataka :-
Background – Address by the President of India at the second Annual Convocation of the Central University of Karnataka . Thought the address itself is not important , however he touched upon few things that are part of our course and culture.
- Karnataka is a historical land marked by its multi-cultural, multi-ethnic and multi-lingual nature. Buddhism, Jainism, Veera-shaivism or Lingayitism and Islam have flourished here
- The Vachana Movement, Sufi saints, Keertanakaras and the Thatva Padakaaras have shaped the hearts and minds of the people of this region. Urdu and Persian literatures have flourished here and so to Kannada folk literature, which gave this region its indigenous identity.
- It is the seat of two universities in the past – Anubhava Mantapa of Basavanna and Mahmud Gawan’s Madrsa – both of which attracted intellectuals from across the country and abroad.
- It is also worth mentioning about Sannati, an ancient Buddhist centre of learning, and Nagavi Ghatikasthan.
Lingayatism /Veera- Shaivism and Basavanna:-
It is a distinct Shaivite denomination practiced in India. It makes several departures from mainstream Hinduism and propounds monotheism through worship centered on Lord Shiva (formless, infinite god) in the form of Ishtalinga.
Contemporary Lingayatism is a rich blend of reform-based theology propounded by Basava and ancient Shaivite tradition and customs, with huge influence among the masses in South India, especially in the state of Karnataka
108 Feet Basava Statue at Bidar
Anubhava Mantapa was an academy of mystics, saints and philosophers of the Lingayat faith in the 12th century. It was the fountainhead of all religious and philosophical thought pertaining to the Lingayat.
It was presided over by the mystic Allama Prabhu and numerous Sharanas from all over Karnataka and other parts of India were participants. This institution was also the fountainhead of the Vachana literature which was used as the vector to propagate Lingayata religious and philosophical thought.
Other giants of Lingayat theosophy like Akka Mahadevi, Channabasavanna and Basavanna himself were participants in the Anubhava Mantapa. The Anubhava Mantapa was originally called the Shivanubhava Mantapa
Vachana Sahitya:-
Vachana sahitya is a form of rhythmic writing in Kannada that evolved in the 11th century C.E. and flourished in the 12th century, as a part of the Sharna movement. The word vachanas literally means “(that which is) said”.
Poets – Madara Chennaiah, Basava
Mahmud Gawan’s Madrsa:-
The Madrasa of Mahmud Gawan (Madrasa-e-Mahmud Gawan) is an ancient university located in Bidar – the City of Whispering Monuments. This heritage structure is placed under the list of monuments of national importance. Founded by the prime-minister of the Bahamani empire in the late 15th century, it bears testimony to the scholarly genius of Mahmud Gawan.
Mahmud reportedly built the madrasa with his own money and it functioned like a residential University
2)All that is to be understood about Syrian Crisis:-
3)All India Survey on Higher Education (AISHE) :-
The survey covers all the Higher Education (HE) institutions of the country including Universities, Colleges and Stand-Alone institutions. The entire survey has been voluntary, based on motivation of respondents; and without any statutory mandate in place for collecting information of this nature
The major findings of the AISHE 2014-15 are as follows –
- Increase in overall enrolment from 27.5 million in 2010-11 to 33.3 million in 2014-15
- Improvement in Gross Enrolment Ratio which is a ratio of enrolment in higher education to population in the eligible age group (18-23) years from 19.4% on 2010-11 to 23.6% in 2014-15
- Gender Parity Index (GPI), a ratio of proportional representation of female and male, has marginally improved from 0.86 to 0.93 to the corresponding period.
- Number of institutions of higher education listed on AISHE portal has also increased significantly
The Survey was initiated in the year 2011 to prepare a robust data-base on higher education. Keeping in view the usefulness of data collected during the very first year, Ministry decided to make this survey an annual exercise of data collection in higher education sector.
4)Insurance Cover to Unorganised Labourers –
The Government has enacted ‘Unorganised Workers’ Social Security Act, 2008’ for the welfare of unorganised workers. The Act provides for formulation of suitable welfare schemes for unorganised workers on matters relating to:
(i) life and disability cover,
(ii) health and maternity benefits,
(iii) old age protection
(iv) any other benefit as may be determined by the Central Government through the National Social Security Board.
The Rashtriya Swasthya Bima Yojana (RSBY) implemented by Ministry of Health and Family Welfare is a health insurance scheme which provides health and maternity benefits to the unorganized workers, listed in the Schedule I of the Unorganised Workers’ Social Security Act, 2008.
For insurance against death and disability, Department of Financial Services implements schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Ministry of Labour and Employment implements Aam Aadmi Bima Yojana (AABY) which covers death and disability along with a scholarship component for 2 children studying in class 9th to 12th standard
5) T K Vishwanathan Committee recommendation on Bankruptcy Law:-
Background:-
These changes are much-needed in the Indian context where, in most cases of large corporate defaults, banks are sitting ducks when it comes to recovery of money like in the case of Rs 7,000 crore default by Vijay-Mallya owned Kingfisher Airlines.
When the recovery process gets delayed by several years, the value of the underlying assets deteriorates. Large corporate defaults, including those by willful defaulters (promoters and companies, which have the ability to repay but wouldn’t do) form a significant part of the Rs 300,000 crore gross non-performing assets (NPAs) of Indian banks.
According to a 2014 World Bank report, the average time to resolve insolvency is four years in India, compared with 0.8 in Singapore and one year in London. The Vishwanathan panel too has observed that, the loan recovery rates obtained in India are among the lowest in the world. When default takes place, broadly speaking, lenders seem to recover 20 percent of the value of debt.
The biggest challenge for the bankruptcy code to work, however, is the intervention of judiciary in the insolvency cases
Recommendations:-
- It proposes creation of an insolvency regulator and setting a time limit of 180 days (which can be 90 days in special cases) to deal with insolvency resolution cases
- If 75 percent of the creditors approve the plan, the insolvency resolution process can kick off. If not, the adjudicating authority can order liquidation of the company
- It also recommended an administrative mechanism for resolving financial distress of viable MSMEs
- Speedy judicial resolution
- Provide a predictable system for
- (a) takeover of management or assets by the company administrator as part of the rescue process, and
- (b) governing the interrelationship between such administrator, the managerial personnel and the shareholders in the event of such takeover.
- Provide an enabling provision for raising ‘rescue finance’ and granting super-priority to such financiers as part of a scheme of revival
Insolvency:-When an individual or organization can no longer meet its financial obligations with its lender or lenders as debts become due. Insolvency can lead to insolvency proceedings, in which legal action will be taken against the insolvent entity, and assets may be liquidated to pay off outstanding debts
Bankruptcy:-Bankruptcy is a legal status of a person or other entity that cannot repay the debts it owes to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.
Bankruptcy is not the only legal status that an insolvent person or other entity may have, and the term bankruptcy is therefore not a synonym for insolvency. In some countries, including the United Kingdom, bankruptcy is limited to individuals, and other forms of insolvency proceedings (such as liquidation and administration) are applied to companies. In the United States, bankruptcy is applied more broadly to formal insolvency proceedings.
Bankruptcy vs Insolvency :-
A state of insolvency can lead to bankruptcy. However, it is also possible that the state of insolvency could be temporary and fixable. Thus, insolvency does not necessarily lead to bankruptcy, but all bankrupt legal entities or persons are deemed to be insolvent.
6)Lok Sabha passed the National Water Way Bill :-
Read complete analysis here- http://upsctree.com/2015/12/10/09-and-10-dec-2015/
Yet to cover:-
Currently Juvenile Justice Bill (Amendment) and Bankruptcy bills are tabled in parliament , once the process is over we will cover it and analyze it depending upon the outcome of these bills.
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Steve Ovett, the famous British middle-distance athlete, won the 800-metres gold medal at the Moscow Olympics of 1980. Just a few days later, he was about to win a 5,000-metres race at London’s Crystal Palace. Known for his burst of acceleration on the home stretch, he had supreme confidence in his ability to out-sprint rivals. With the final 100 metres remaining,
[wptelegram-join-channel link=”https://t.me/s/upsctree” text=”Join @upsctree on Telegram”]Ovett waved to the crowd and raised a hand in triumph. But he had celebrated a bit too early. At the finishing line, Ireland’s John Treacy edged past Ovett. For those few moments, Ovett had lost his sense of reality and ignored the possibility of a negative event.
This analogy works well for the India story and our policy failures , including during the ongoing covid pandemic. While we have never been as well prepared or had significant successes in terms of growth stability as Ovett did in his illustrious running career, we tend to celebrate too early. Indeed, we have done so many times before.
It is as if we’re convinced that India is destined for greater heights, come what may, and so we never run through the finish line. Do we and our policymakers suffer from a collective optimism bias, which, as the Nobel Prize winner Daniel Kahneman once wrote, “may well be the most significant of the cognitive biases”? The optimism bias arises from mistaken beliefs which form expectations that are better than the reality. It makes us underestimate chances of a negative outcome and ignore warnings repeatedly.
The Indian economy had a dream run for five years from 2003-04 to 2007-08, with an average annual growth rate of around 9%. Many believed that India was on its way to clocking consistent double-digit growth and comparisons with China were rife. It was conveniently overlooked that this output expansion had come mainly came from a few sectors: automobiles, telecom and business services.
Indians were made to believe that we could sprint without high-quality education, healthcare, infrastructure or banking sectors, which form the backbone of any stable economy. The plan was to build them as we went along, but then in the euphoria of short-term success, it got lost.
India’s exports of goods grew from $20 billion in 1990-91 to over $310 billion in 2019-20. Looking at these absolute figures it would seem as if India has arrived on the world stage. However, India’s share of global trade has moved up only marginally. Even now, the country accounts for less than 2% of the world’s goods exports.
More importantly, hidden behind this performance was the role played by one sector that should have never made it to India’s list of exports—refined petroleum. The share of refined petroleum exports in India’s goods exports increased from 1.4% in 1996-97 to over 18% in 2011-12.
An import-intensive sector with low labour intensity, exports of refined petroleum zoomed because of the then policy regime of a retail price ceiling on petroleum products in the domestic market. While we have done well in the export of services, our share is still less than 4% of world exports.
India seemed to emerge from the 2008 global financial crisis relatively unscathed. But, a temporary demand push had played a role in the revival—the incomes of many households, both rural and urban, had shot up. Fiscal stimulus to the rural economy and implementation of the Sixth Pay Commission scales had led to the salaries of around 20% of organized-sector employees jumping up. We celebrated, but once again, neither did we resolve the crisis brewing elsewhere in India’s banking sector, nor did we improve our capacity for healthcare or quality education.
Employment saw little economy-wide growth in our boom years. Manufacturing jobs, if anything, shrank. But we continued to celebrate. Youth flocked to low-productivity service-sector jobs, such as those in hotels and restaurants, security and other services. The dependence on such jobs on one hand and high-skilled services on the other was bound to make Indian society more unequal.
And then, there is agriculture, an elephant in the room. If and when farm-sector reforms get implemented, celebrations would once again be premature. The vast majority of India’s farmers have small plots of land, and though these farms are at least as productive as larger ones, net absolute incomes from small plots can only be meagre.
A further rise in farm productivity and consequent increase in supply, if not matched by a demand rise, especially with access to export markets, would result in downward pressure on market prices for farm produce and a further decline in the net incomes of small farmers.
We should learn from what John Treacy did right. He didn’t give up, and pushed for the finish line like it was his only chance at winning. Treacy had years of long-distance practice. The same goes for our economy. A long grind is required to build up its base before we can win and celebrate. And Ovett did not blame anyone for his loss. We play the blame game. Everyone else, right from China and the US to ‘greedy corporates’, seems to be responsible for our failures.
We have lowered absolute poverty levels and had technology-based successes like Aadhaar and digital access to public services. But there are no short cuts to good quality and adequate healthcare and education services. We must remain optimistic but stay firmly away from the optimism bias.
In the end, it is not about how we start, but how we finish. The disastrous second wave of covid and our inability to manage it is a ghastly reminder of this fact.