CURRENT AFFAIRS 16 NOVEMBER 2019

CURRENT AFFAIRS

16 NOVEMBER 2019

1. NCLAT(GS-2)

CONTEXT:SC paves the way for ArcelorMittal to enter India after two years of legal battle in various courts
The apex court while approving the ArcelorMittal resolution plan of 42,000 crore for Essar Steel ruled that operational creditors can’t be treated at par with financial creditors.
In February 2017, the RBI directed banks to refer 12 large NPA cases to the NCLT. These accounts together had an outstanding of 3.45 lakh crore to the banking system. Of these, the resolution process in respect of seven accounts have been concluded.

NCLAT:

The National Company Law Appellate Tribunal (NCLAT) on Wednesday allowed the board of Infrastructure Leasing & Financial Services (IL&FS) declare ‘amber’ companies as 'green' companies.

The new board at IL&FS had classified IL&FS group companies into three categories, namely ‘green’, ‘amber’ and ‘red’ based on their financial health and ability to service debt obligations to secured and unsecured creditors.
Red Companies: are those with no cash and not in a position to pay any creditor.
Amber companies: are those with enough to pay secured creditors but not unsecured creditors.
Green companies: are those firms which have enough money to service all their debts, to the secured as well as unsecured creditors.
So far, 55 companies have been placed under the green category and 13 have been placed under the amber category. A total of 82 companies have been placed under the red category, while 11 are yet to be classified.
NCLAT has allowed the board of IL&FS to declare 'amber' companies or those able to partially pay off their loans as ‘green’ companies or those that can continue to meet all their payment obligations.

National Company Law Appellate Tribunal (NCLAT)

It was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of National Company Law Tribunal.
NCLAT is also the Appellate Tribunal for hearing appeals against the orders passed by NCLT(s) under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC).
NCLAT is also the Appellate Tribunal for hearing appeals against the orders passed by Insolvency and Bankruptcy Board of India under Section 202 and Section 211 of IBC.
NCLAT is also the Appellate Tribunal to hear and dispose of appeals against any direction issued or decision made or order passed by the Competition Commission of India (CCI).

2.FOREST ACT OF 1927(GS-2,3)

CONTEXT:Centre drops plan to bring in changes to Forest Act of 1927
The draft had mooted giving a wide range of powers to forest officers
The Union Environment Ministry on Friday withdrew a draft amendment that proposed updates to the Indian Forest Act, 1927. Activist groups and some State governments had protested this proposed law after it was mooted in March.

Indian Forest Act, 1927:

The Indian Forest Act, 1927 was largely based on previous Indian Forest Acts implemented under the British. The most famous one was the Indian Forest Act of 1878.
Both the 1878 act and the 1927 one sought to consolidate and reserve the areas having forest cover, or significant wildlife, to regulate movement and transit of forest produce, and duty leviable on timber and other forest produce.
It also defines the procedure to be followed for declaring an area to be a Reserved Forest, a Protected Forest or a Village Forest.
It defines what a forest offence is, what are the acts prohibited inside a Reserved Forest, and penalties leviable on violation of the provisions of the Act.

3.US Trade Representative (USTR)(GS-2,3)

CONTEXT:U.S. trade negotiators to visit Delhi to continue talks
Trade negotiators from the Office of the US Trade Representative (USTR) are expected to visit New Delhi next week, or at the latest, the week after next, to continue discussions with Commerce Minister Piyush Goyal and his team, at least three independent sources, from the Indian and U.S. side

US Trade Representative (USTR):

The Office of the United States Trade Representative (USTR) is the United States government agency responsible for developing and recommending United States trade policy to the president of the United States, conducting trade negotiations at bilateral and multilateral levels, and coordinating trade policy within the government through the interagency Trade Policy Staff Committee (TPSC) and Trade Policy Review Group (TPRG)

Established as the Office of the Special Trade Representative (STR) under the Trade Expansion Act of 1962, the USTR is part of the Executive Office of the President. With over 200 employees, the USTR has offices in Geneva, Switzerland, and Brussels, Belgium. The current U.S. trade representative is Robert E. Lighthizer

4.Micro, Small and Medium Enterprises (MSME)(GS-2,3)

CONTEXT:Govt aims to raise MSME sector contribution from 29% to 50%: Gadkari
Union Minister of Road Transport & Highways and Micro, small and medium enterprises (MSME) Nitin Gadkari today said that contribution of MSME sector to the country's economy is 29 per cent and the Government aims to increase it to 50 per cent.
The Minister was speaking at the inauguration of the Innovation Conclave in Pune today. He said, the country's exports 39 per cent of MSME products at present.
Mr Gadkari said, in future, the government wants to take the export target to 60 per cent. He said, at present between 10 and 11 crore jobs are available in the MSME sector.

Micro, Small and Medium Enterprises (MSME)

Introduction

Worldwide, MSMEs have been accepted as the engine of economic growth and for promoting equitable development.
They constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth.
With low investment requirements, operational flexibility and the capacity to develop appropriate indigenous technology, SMEs have the power to propel India to new heights.
Hence, it seems like there is a silent revolution happening in India powered by MSMEs.

Importance of MSMEs for Indian Economy

Employment: It is the second largest employment generating sector after agriculture. It provides employment to around 120 million persons in India.
Contribution to GDP: With around 36.1 million units throughout the geographical expanse of the country, MSMEs contribute around 6.11% of the manufacturing GDP and 24.63% of the GDP from service activities.
MSME ministry has set a target to up its contribution to GDP to 50% by 2025 as India becomes a $5 trillion economy.
Exports: It contributes around 45% of the overall exports from India.
Inclusive growth: MSMEs promote inclusive growth by providing employment opportunities in rural areas especially to people belonging to weaker sections of the society.
For example: Khadi and Village industries require low per capita investment and employs a large number of women in rural areas.
Financial inclusion: Small industries and retail businesses in tier-II and tier-III cities create opportunities for people to use banking services and products.
Promote innovation: It provides opportunity for budding entrepreneurs to build creative products boosting business competition and fuels growth.
Thus, Indian MSME sector is the backbone of the national economic structure and acts as a bulwark for Indian economy, providing resilience to ward off global economic shocks and adversities.

MSME redefined

The Micro, Small and Medium Enterprises Development (Amendment) Bill, 2018 proposes to reclassify all MSMEs, whether they are manufacturing or service-providing enterprises, on the basis of their annual turnover.
The bill was introduced in the Lok Sabha and further referred to the Standing Committee which tabled its report on 28 December 2018.
Benefits of proposed reclassification
The new classification would eliminate the need for frequent inspections which was earlier required to check the investment in plant and machinery.
It would be a non discriminatory, transparent and objective criterion.

Factors which led to growth of MSMEs

Campaigns like Skill India, Startup India, Digital India and Make in India aim to provide MSME players with a level playing field and a definitive push towards enhanced productivity.
Digitization: Increasing internet penetration, customer’s familiarization with digital payments fuelled by B2C ecommerce players facilitate MSME sector growth.
Tie-ups with new-age non-banking finance (FinTech) companies allowed access to timely collateral free finance to MSMEs.
Changing employment patterns: Younger generation shifting from agriculture towards entrepreneurial activities creating job prospects for others.

5.Central Board of Indirect Taxes and Customs(GS2)

CONTEXT:No GST on salary, clarifies CBIC
Central Board of Indirect Taxes and Customs, CBIC today clarified that salaries are not subject to GST and no GST has been demanded on salaries paid to CEOs or employees.
In a statement, CBIC said that the media report in this regard alleging that tax authorities want to impose GST on salaries paid to employees is factually incorrect and misrepresents tax authorities.

Central Board of Indirect Taxes and Customs:

Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) is a part of the Department of Revenue under the Ministry of Finance, Government of India.
It deals with the tasks of formulation of policy concerning levy and collection of Customs, Central Excise duties, Central Goods & Services Tax and IGST, prevention of smuggling and administration of matters relating to Customs, Central Excise, Central Goods & Services Tax, IGST and Narcotics to the extent under CBIC's purview.
The Board is the administrative authority for its subordinate organizations, including Custom Houses, Central Excise and Central GST Commissionerates and the Central Revenues Control Laboratory.

.Ministry of Finance

Department of Expenditure

Department of Economic Affairs

Department of Revenue

Department of Financial Services

Department of Investment and Public Asset Managem

6.Sessions of Parliament(GS-2)

CONTEXT:Speaker Om Birla to convene an all-party meeting this afternoon ahead of winter session of Parliament
Lok Sabha Speaker Om Birla has convened an all-party meeting today ahead of the winter session of Parliament beginning Monday.
During the meeting, Mr. Birla will seek the support of political parties to ensure smooth functioning of the House. Rajya Sabha Chairman M Venkaiah Naidu has also called a meeting of leaders of different parties in the Upper House tomorrow.
An all-party meeting has also been convened by the government on the same day ahead of the session. The winter session of Parliament will conclude on the 13th of next month.

Sessions of Parliament:

A session of the Indian Parliament is the period during which a House meets almost every day uninterruptedly to manage the business. There are typically three sessions in a year. A session contains many meetings.
The process of calling all members of the Parliament to meet is called Summoning of Parliament. It is the President who summons Parliament.

In general, the sessions are as follows:

Budget session (February to May)
Monsoon session (July to September)
Winter session (November to December)
Budget Session

The budget session is held in February to May every year.
It is considered to be a highly crucial session of the Parliament.
The Budget is usually presented on the last working day of the month of February.
Here, the members discuss the various provisions of the budget and matters concerning taxation, after the Finance Minister presents the budget.
The budget session is generally split into two periods with a gap of one month between them.
This session every year starts with the President’s Address to both Houses.

Monsoon Session

The monsoon session is held in July to September every year.
This is after a break of two months after the budget session.
In this session, matters of public interest are discussed.

Winter Session

The winter session of Parliament is held in mid-November to mid-December every year.
It is the shortest session of all.
It takes up the matters that could not be considered upon earlier and makes up for the absence of legislative business during the second session of the Parliament.
Joint Session of Parliament
The Constitution of India provides for the joint sitting of the Parliament’s two Houses, the Lok Sabha and the Rajya Sabha, in order to break any deadlock between the two.
The joint sitting of the Parliament is called by the country’s President.
Such a session is presided over by the Speaker, and in his/her absence, by the Deputy Speaker of the Lok Sabha. In the absence of both, it is presided over by the Deputy Chairman of the Rajya Sabha.
If any of the above are not present, any other member of the Parliament can preside by consensus of both the Houses.
Article 108 of the Constitution talks about a joint Parliament session.

When is a Joint Session called?

If a bill is passed by one House and passed on to the other and –
The bill is rejected by the other House
The Houses disagree on the amendments made to the bill
If 6 months have passed since the passing of the bill by one House and the bill has been received by the other House without it being passed (the President cannot summon a joint sitting if the bill was not passed because of the dissolution of the Lok Sabha). Also, in calculating the 6 months, days, when House was prorogued or adjourned for more than 4 consecutive days, are not counted.

Exceptions to Joint Sittings

Money Bills: Money bills do not require the approval of the Rajya Sabha. Only Lok Sabha needs to pass it. Even if the Upper House does not pass a money bill within 14 days, it is deemed to have been passed by both Houses of Parliament after the expiry of the above period. So, there is no case for a joint sitting in the case of a money bill.
Constitution Amendment Bills: According to Article 368, the constitution of India can be amended by both the Houses by a 2/3rd majority. In case of a disagreement between both the houses, there is no provision for a joint session of Parliament.

7.United Nations General Assembly (UNGA)(GS-2,3)

CONTEXT:UNGA draft resolution on Rohingyas passed, Myanmar urged to repeal 1982 citizenship law
The United Nations General Assembly (UNGA) passed a draft resolution on Thursday asking Myanmar to demonstrate genuine political goodwill to ensure the safe and sustainable return of the Rohingyas.
The draft resolution named 'Situation of human rights of Rohingya Muslims and other minorities in Myanmar' was placed in the UNGA by the United Arab Emirates and Finland on behalf of the Organisation of Islamic Cooperation (OIC) and European Union (EU).
It was passed by a majority of 140 votes. Nine countries including China, Myanmar, Russian Federation and Zimbabwe voted against the resolution while 32 countries abstained.
The resolution calls upon Myanmar to review the controversial 1982 citizenship law which effectively denied citizenship to lakhs of Rohingyas living in Myanmar

United Nations General Assembly (UNGA):

What is UNGA?
Popularly known as the parliament of the world, where all the 193 UN member states are represented, the UNGA is the deliberative, policymaking and representative organ of the UN.

Roles and functions:

Takes a decision on important matters such as peace and security, discusses various global issues and budgetary matters.
Decides on matters such as the admission of new members.
Decisions are taken through a vote. Admission of new members and budgetary matters require a two-thirds majority, while the decision on other issues are taken by a simple majority.
Each sovereign state gets one vote and the votes are not binding on the membership, except in budgetary matters.
The Assembly has no binding votes or veto powers like the UN Security Council.
The UNGA can express world opinion, promote international cooperation in various fields and make recommendations to the UNSC and elect the Security Council’s non-permanent members.

Which countries are not a part of UNGA?

Among the world’s 196 countries, 193 are UN member states and three nations- Palestine, the Vatican City and Taiwan are not a part of the international organization as their country status is not recognized globally due to political and religious reasons.
According to the Charter of the United Nations, the General Assembly may:

Consider and approve the United Nations budget and establish the financial assessments of Member States;
Elect the non-permanent members of the Security Council and the members of other United Nations councils and organs and, on the recommendation of the Security Council, appoint the Secretary-General;
Consider and make recommendations on the general principles of cooperation for maintaining international peace and security, including disarmament;
Discuss any question relating to international peace and security and, except where a dispute or situation is currently being discussed by the Security Council, make recommendations on it;
Discuss, with the same exception, and make recommendations on any questions within the scope of the Charter or affecting the powers and functions of any organ of the United Nations;

Initiate studies and make recommendations to promote international political cooperation, the development and codification of international law, the realization of human rights and fundamental freedoms, and international collaboration in the economic, social, humanitarian, cultural, educational and health fields;
Make recommendations for the peaceful settlement of any situation that might impair friendly relations among countries;
Consider reports from the Security Council and other United Nations organs.

8.National Initiative for School Heads’ and Teachers’ Holistic Advancement (NISHTHA)(GS-2)

CONTEXT:National Mission 'NISHTHA' launched in J&K
National Initiative for School Heads’ and Teachers’ Holistic Advancement (NISHTHA) was launched in the Union Territory of Jammu and Kashmir with its formal inauguration by Commissioner Secretary, School Education Department, Sarita Chauhan.
The event was attended by around 300 teachers, Key Resource Persons (KRPs) and Chief Education Officers, DIET Principals and Educational Administrators

National Initiative for School Heads’ and Teachers’ Holistic Advancement (NISHTHA):

The Union Human Resource Development Minister has launched ‘National Initiative for School Heads and Teachers Holistic Advancement (NISHTHA)’, a national mission to improve learning outcomes at the elementary level.
NISHTHA Website, Training Modules, Primer Booklet and a Mobile App were also launched by the Minister.
About ‘National Initiative for School Heads' and Teachers' Holistic Advancement’

NISHTHA is the largest teachers’ training programme of its kind in the world.

Objective: To motivate and equip teachers to encourage and foster critical thinking in students.

Teachers will get awareness and develop their skills on various aspects related to:
Learning Outcomes,
Competency-Based learning and Testing,
Learner-centered Pedagogy,
School Safety and Security,
Personal-social qualities,
Inclusive Education,
ICT in teaching-learning including Artificial Intelligence,
Health and well-being including yoga,
Initiatives in School Education including library, eco-club, youth club, kitchen garden,
School Leadership qualities,
Environmental Concerns,
Pre-school, Pre-vocational Education and School-Based assessment.
Aim: To build the capacities of around 42 lakh participants,
Covering all teachers and heads of schools at the elementary level in all Government schools,
Faculty members of State Councils of Educational Research and Training (SCERTs) and District Institutes of Education and Training (DIETs),
Block Resource Coordinators and Cluster Resource Coordinators in all States and UTs.
Implementation: Training will be conducted directly by 33120 Key Resource Persons (KRPs) and State Resource Persons (SRP) identified by the State and UTs, who will in turn be trained by 120 National Resource Persons identified from National Council of Educational Research and Training (NCERT), National Institute of Educational Planning and Administration (NIEPA), etc.
States and UTs have an option to contextualize the training modules and use their own material and resource persons also, keeping in view the core topics and expected outcomes of NISHTHA.
The prominent features of the programme are activity based modules including in-built continuous feedback mechanism, online monitoring and support system, training need and impact analysis (Pre and Post training).
A Mobile App and Learning Management System (LMS) based on MOODLE (Modular Object-Oriented Dynamic Learning Environment) have been developed by NCERT.
LMS will be used for registration of Resource Persons and Teachers, dissemination of resources, training gap and impact analysis, monitoring, mentoring and measuring the progress online.

9.National Press Day

Today is National Press Day. The day, observed on 16th November every year, is symbolic of a free and responsible press.
It was on this day the Press Council of India started functioning as a moral watchdog to ensure that the press maintains high standards and is not fettered by any influence or threats.
On the occasion, Vice President M. Venkaiah Naidu will confer excellence in journalism awards.

National Press Day Today is National Press Day.

10.National Tribal Festival Aadi Mahotsav(GS-1,2)

CONTEXT:National Tribal Festival Aadi Mahotsav to begin today in New Delhi
Union Home Minister Amit Shah will inaugurate the National Tribal Festival "Aadi Mahotsav" in New Delhi today.

The theme of the 15-day Mahotsav being held at Dilli Haat in INA, is celebration of the Spirit of Tribal Culture, Craft, Cuisine and Commerce.
The tribal textiles manufactured by master tribal craftsmen from Jammu & Kashmir in the North to Tamil Nadu in the South and from Gujarat in the West to Nagaland/Sikkim in the East will be the main attractions.
The aim of “Aadi Mahotsav – National Tribal Festival” is to provide direct market access to the tribal master-craftsmen and women in large metros and state capitals. As many as 26 such festivals are planned to be organised during the current financial year", said the statement.
It will feature exhibition-cum-sale of tribal handicrafts, art, paintings, fabric, jewellery and much more through about 210 stalls.
For the first time, "Aadi Mahotsav" will showcase a wide range of products from the tribal artisans from Leh (Ladaakh).
The tribal handicrafts will be sold through about 210 stalls under the tribes banner by tribal artisans