06 Apr 2021: UPSC Exam Comprehensive News Analysis

CNA 6th April 2021:- Download PDF Here

TABLE OF CONTENTS

A. GS 1 Related
B. GS 2 Related
INTERNATIONAL RELATIONS
1. Putin signs law that could keep him in office till 2036
POLITY AND GOVERNANCE
1. Govt. amends nine laws via ordinance
C. GS 3 Related
ECONOMY
1. Flexible inflation targeting working well, says FinMin
2. Govt. amends IBC for MSME resolution
D. GS 4 Related
E. Editorials
INTERNATIONAL RELATIONS
1. U.S. and China need each other
POLITY AND GOVERNANCE
1. Free and unhindered justice
SOCIAL ISSUES
1. The pillars of an equitable post-COVID India
F. Prelims Facts
1. Manufacturing PMI dips to 7-month low
G. Tidbits
1. ‘Less-industrialised States lead power demand recovery’
2. ‘India delayed second wave, can contain economic impact’
3. Persistent mindlessness
H. UPSC Prelims Practice Questions
I. UPSC Mains Practice Questions

Category: POLITY AND GOVERNANCE

1. Govt. amends nine laws via ordinance

Context:

The government has amended nine laws via ordinance.

Details:

  • Through the promulgation of the Tribunal Reforms (Rationalisation and Conditions of Service) Ordinance 2021, the Centre has replaced the existing appellate authorities and vested those powers in the High Courts.
  • The tenures of chairpersons and members of tribunals were also amended.
    • The tenure of a chairperson has been fixed for a term of four years or till the age of 70, whichever is earlier.

Which are the nine laws?

These laws are Cinematograph Act; Copyright Act; Customs Act; Patents Act; Airports Authority of India Act; Trade Marks Act; Geographical Indications of Goods (Registration and Protection) Act; Protection of Plant Varieties and Farmers Rights Act and Control of National Highways (Land and Traffic) Act.

Read more on Ordinance Making Power of President & Governor.

2. Govt. amends IBC for MSME resolution

Context:

An ordinance was promulgated to amend the Insolvency and Bankruptcy Code (IBC).

Details:

  • The government has amended the insolvency law to provide for a pre-packaged resolution process for micro, small and medium enterprises.
  • The amendment allows the Centre to notify the minimum amount of default value, not more than Rs 1 crore, for pre-packaged insolvency resolution process.
  • As per the ordinance, it is considered expedient to provide an alternative resolution process to ensure quicker and value-maximising outcomes for all stakeholders, in a manner least disruptive to the continuity of their businesses and which preserves jobs.
  • The Ordinance said MSMEs are critical for India’s economy as they contribute significantly to its gross domestic product and provide employment to a sizeable population, and it is considered necessary to urgently address the specific requirements of MSMEs relating to the resolution of their insolvency.

Note:

  • The government had suspended fresh insolvency proceedings for six months from March 25, 2020, when a nationwide lockdown was imposed to curb the spread of coronavirus infections.
  • The suspension was extended till March 24, 2021.

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