UPSC 2017: Comprehensive News Analysis - May 26

A. GS1 Related:
B. GS2 Related:

POLITY

1. Prices of 31 more drugs capped

INTERNATIONAL RELATIONS

1. Modi gears up to meet Putin

C. GS3 Related:

ECONOMICS

1. India retains world’s highest FDI recipient crown: Report 

2. Green writing on wall: OPEC agrees to India plan for joint study 

D. GS4 Related:
E. Concepts-in-News: Related Concepts to Revise/Learn
F. Bills/Acts/Schemes/Orgs in News
G. Practice Questions for UPSC Prelims Exam

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Useful News Articles for UPSC Current Affairs

A. GS1 Related

Nothing here for today!!

 

B. GS2 Related

Category: POLITY

1. Prices of 31 more drugs capped

Context: Accessibility and affordability of medicines.

In News:

  • The National Pharmaceutical Pricing Authority (NPPA) capped the prices of 31 more drugs.
  • Price control: intrauterine devices used for birth control; Factor VIII, a life-saving medicine for haemophilic patients; morphine, a pain killer; and rifampcin, a powerful antibiotic used to treat infections such as tuberculosis and leprosy.

Basic Information:

The National Pharmaceutical Pricing Authority (NPPA):

  • The National Pharmaceutical Pricing Authority (NPPA) is a government regulatory agency {set up as per executive order and thus not a statutory body} that controls the prices of pharmaceutical drugs in India.
  • It has been given powers to implement and enforce the Drugs Price Control Order (DPCO), 1995/2013.
  • It can fund studies regarding pricing of drugs.
  • It also has the task to monitor drug shortages and take appropriate actions to rectify it.
  • It also has to collect and maintain data regarding the import and export of drugs, market shares of pharmaceutical companies and their profits.
  • It also handles legal disputes that arise out of policies created by it.
  • It advices the Government of India in matters of drug policies and pricing.
  • It renders advice to the Central Government on changes/ revisions in the drug policy.
  • It can also cap the prices of a drug and recently it capped the prices of coronary stent.

Category: INTERNATIONAL RELATIONS

1. Modi gears up to meet Putin

In news:

  • Prime Minister Narendra Modi is all set to hold the 18th annual summit with Russian President Vladimir Putin in St Petersburg during his fournation tour, starting Monday .
  • The tour will take him to Germany , Spain and France as well. This Europe-centric visit is aimed at attracting greater investment to India.
  • India and Russia: bilateral trade is going down and Russia increasingly aligning itself with China. 

Basic Information:

North–South Transport Corridor

International North–South Transport Corridor (INSTC)

  • The International North–South Transport Corridor (INSTC) is a 7,200-km-long multi-mode network of ship, rail, and road route for moving freight between India, Russia, Iran, Europe and Central Asia.
  • The route primarily involves moving freight from India, Iran, Azerbaijan and Russia via ship, rail and road.
  • The objective of the corridor is to increase trade connectivity between major cities such as Mumbai, Moscow, Tehran, Baku, Bandar Abbas, Astrakhan, Bandar Anzali, etc.

TIR Convention

  • The Convention on International Transport of Goods Under Cover of TIR Carnets (TIR Convention) is a multilateral treaty that was concluded at Geneva on 14 November 1975 to simplify and harmonise the administrative formalities of international road transport. (TIR stands for “Transports Internationaux Routiers” or “International Road Transports
  • The conventions were adopted under the auspices of the United Nations Economic Commission for Europe (UNECE).
  • As of January 2017, there are 70 parties to the Convention, including 69 states and the European Union.
  • The TIR Convention establishes an international customs transit system with maximum facility to move goods:
    • In sealed vehicles or containers;
    • From a customs office of departure in one country to a customs office of destination in another country;
    • Without requiring extensive and time-consuming border checks at intermediate borders;
    • While, at the same time, providing customs authorities with the required security and guarantees.
  • The TIR system not only covers customs transit by road but a combination is possible with other modes of transport (e.g., rail, inland waterway, and even maritime transport), as long as at least one part of the total transport is made by road.

 

C. GS3 Related

Category: ECONOMICS

1. India retains world’s highest FDI recipient crown: Report

In news:

FDI Report 2017 compiled by FDI intelligence, division of Financial Times Ltd.

Greenfield FDI investment destination

  • India retained its number one position as the world’s top most Greenfield FDI investment destination for the second consecutive year, attracting USD 62.3 billion in 2016, says a report.
  • India has remained ahead of China and the US as far as FDI inflows.
  • In the year 2016, FDI gravitated to locations experiencing the strongest economic growth, while locations in recession or facing high levels of uncertainty saw major decline.
  • China has overtaken the US to become the second biggest country for FDI by capital investment, recording USD 59 billion of announced FDI, compared with USD 48 billion-worth in the US.
  • Globally, the real estate sector has claimed the top spot for capital investment.

Basic Information:

Greenfield investments:

  • A green field investment is a form of foreign direct investment where a parent company builds its operations in a foreign country from the ground up. In addition to the construction of new production facilities, these projects can also include the building of new distribution hubs, offices and living quarters.

Brownfield Investment:

  • Brown field investment, also referred to as “brownfield” is when a company or government entity purchases or leases existing production facilities to launch a new production activity

2. Green writing on wall: OPEC agrees to India plan for joint study

In news:

India-OPEC Institutional Dialogue

  • OPEC, the grouping of oil exporting countries, has agreed to India’s proposal for setting up a joint working group to asses future scenarios for the oil industry as energy mix in major economies undergo rapid changes due to expansion in renewable sources.
  • There is a shift in focus to wind, biomass, electric vehicles, hybrid cars and other alternative fules. All this puts the oil industry at a crossroads and higher crude prices will only act as a catalyst for faster growth of affordable alternative energy technologies.
  • Importance:
  • The acceptance of the proposal by the grouping is an indication of India’s growing importance in the global oil market due to the combined effect of its hunger for fuel and rapidly expanding green energy capacity. 

Basic Information:

OPEC – Organization of the Petroleum Exporting Countries:

  • Organization of the Petroleum Exporting Countries is an intergovernmental organization of 13 nations as of 2017, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, Venezuela), and headquartered since 1965 in Vienna.
  • As of 2015, the 13 countries accounted for an estimated 42 percent of global oil production and 73 percent of the world’s “proven” oil reserves, giving OPEC a major influence on global oil prices that were previously determined by American-dominated multinational oil companies.
  • OPEC’s stated mission is “to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.”
  • As of January 2017, OPEC’s members are Algeria, Angola, Ecuador, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela, while Indonesia is a former member.
  • Two-thirds of OPEC’s oil production and reserves are in its six Middle Eastern countries that surround the oil-rich Persian Gulf.

 

D. GS4 Related

Nothing here for Today!!!

 

PIB Articles                                          

 

E. Concepts-in-News: Related Concepts to Revise/Learn

 

F. Bills/Acts/Schemes/Orgs in News

Article in News

About the article

 

G. Practice Questions for UPSC Prelims Exam
Question 1: As per FDI Report 2017, which sector received the highest capital investments?
  1. Real Estate
  2. Coal , Oil , Natural gas
  3. Renewable energy
  4. Metals
See
Answer
Question 2: As per FDI Report 2017, India retained its number one position as the 
world’s top most ________ investment destination for the second consecutive year?
  1. Green field
  2. Brown filed
  3. Renewable energy
  4. Automobile
See
Answer
Question 3: The National Pharmaceutical Pricing Authority is a
  1. Statutory body
  2. Constitutional body
  3. Body set up as per executive order
  4. None of the above
See
Answer
Question 4: The Convention on International Transport of Goods cover custom
transit by
  1. Road only
  2. Rail only
  3. Inland Water ways only
  4. None of the above
See
Answer
 

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