UPSC 2017-18: PIB Summary and Analysis July 29

UPSC 2017-18: PIB Summary and Analysis July 29

‘Tiger Bearing Forests Play a Mitigative Role in Combating Climate Change’: 
Dr Harsh Vardhan

• Union Minister of Environment, Forest and Climate Change, Dr. Harsh Vardhan has said that Tiger-bearing forests play a mitigative role in combating Climate Change, besides the value of ecosystem services, provided by Tiger reserves.
• The Tiger is a symbol of healthy environment and there can be no let-up in conservation efforts, as threats to Tigers remain ever persistent.
• The target of doubling the number of Tigers by 2022 in St Petersburg Declaration is a moderate target, but even to achieve this moderate target, nations have to be repeatedly reminded to conserve the Tiger. 
• Tiger conservation should be carried out every moment of the day and not celebrated merely as a one-day event.

Stressed Assets with Banks represent unique opportunity for Asset Reconstruction 
Companies and Private Equity Firms: Finance Minister

• Accounts classified as impaired/stressed still had inherent value. 
• These were essentially productive assets which if turned around would not only create additional jobs but also contribute to national output. 
• For this to happen, timely interventions, transparent price discovery and right management were required.

The legislative and regulatory changes made over the last 18 months which had created an enabling and supportive operational environment for ARCs and for takeover of stressed assets by PE firms/special situation funds :-

• 100% ownership by sponsors, higher ceiling of 100% for FDI in ARCs, pass through status to ARC trusts for income tax, exemption from stamp duty, enabling trading of security receipts etc.
• The increasing number of players in the market was indicative of an increasing interest in the sector but also presented an opportunity for banks to offload stressed assets before fully provisioning for them.

Shri Mukhtar Abbas Naqvi launches “Jiyo Parsi Publicity Phase-2” in Mumbai

• Parsi community has immense contribution in nation building and Parsi community has been a “role model” for other communities for its culture and traditions.
• The Parsi community has given so many great people who have been “architects of nation building”.
• Even though the Parsi community is a very small minority community in India, there is no doubt that the Parsi community is one of the most liberal, aware towards education and an example of “peace and harmony”.

Some notable examples

• Jamshetji Tata played a crucial role in industrial development of India; Dadabhai Naoroji and Madam Bhikaji Cama played an important role in India’s freedom struggle; Homi J Bhabha is “father of Indian nuclear programme.
• Field Marshall Sam Manekshaw’s service to the nation will be remembered always.
• Be it industry, military service, legal service, architecture or civil services, the Parsi community has always shown its talent.