Indian Current Affairs: 27.05.2010

Politics & the Nation

Take a look at this convincing explanation given by Alok Sheel:
Regulation comprises a set of rules usually applicable to providers of specific services.Unlike laws and rules,regulations are applicable only to players engaged in particular activities, such as banking, insurance or motor driving. A rule or law, on the other hand,such as abjuring violence,is applicable to everybody at all times. Regulation also frequently has the effect of imposing additional compliance costs on players, although they may not always be easy to measure because it also has the effect of mitigating negative externalities, and hence involves complex cost-benefit analysis. Costs incurred through penalties imposed for non-compliance are easily quantifiable.

This is an excellent ET in the Classroom column that explains the litigation about formation of National Company Law Tribunal and how the Supreme Court has viewed the whole issue. Well worth a read.

Finance & Economy

Take a look at this graphic which gives some cryptic details of the agreement reportedly reached between the brothers.

The Indian arm of PepsiCo has become the first of its global units to put more water back into the environment than it consumes, the company said.
The beverage giant has achieved ‘positive water balance’ by recharging 6 billion litres and using 5.17 billion litres during 2009 with a net saving of 836 million litres. PepsiCo, which has 45 beverage bottling and snacks plants in India, said the figures were verified by audit firm Deloitte Touche Tohmatsu India.
PepsiCo said it has achieved water balance through conservation in agriculture to substitute transplanting of paddy with direct seeding technology, community programmes like construction of check-dams and recharge ponds, and rain or roof-water harvesting.
But environment activists are not entirely pleased with PepsiCo’s efforts. Sunita Narain of the Centre for Science and Environment said she would like to see companies achieve positive water balance, but this must happen within their factory compounds.

What is the case? The troubles of the ailing behemoth go far beyond the union scrapes.
As many efficient players are now available for meeting the economy's needs without bleeding the exchequer, Air India should be given the go bye.
The combined losses of the National Aviation Company of India (Nacil), formed by merging Air India and Indian Airlines (IA), were estimated at a staggering Rs 5,448 crore in 2008-09.
Air India is also saddled with all the ills associated with state ownership. Political interference, policy inaction and patronage of vested interests have stifled the airline.
Most countries have got over the idea of owning a national flag carrier. The world's big airlines are publicly listed with dispersed shareholding. India should follow.
Therefore, the government should extricate itself from the mess rather than throwing in more money.
We were forced to think on the above lines because of the recalcitrant and irresponsible behaviour of the Air India employees unions who declared a wildcat strike even as the corpses from the Mangalore tragedy are being shipped all over the country. The Delhi High Court judgement declaring their strike illegal and staying the proposed ones, had hopefully driven some sense of purpose and responsibility in the unions and their members.

International

The Organization for Economic Cooperation and Development (OECD) raised its growth forecasts for this year and next as emerging economies such as China outpace debt- burdened developed countries to drive the global expansion.
The economy of the OECD’s 30 members will grow 2.7% this year, more than the 1.9% predicted in November, the Paris-based group said on Wednesday in a report. Including non-members such as China, the global economy will expand 4.6% this year and 4.5% in 2011, compared with an average of 3.7% during the decade through 2006.

Arts

This is a festival about developing artistic sensitivities in children being organized in Chennai. It aims to bring child-oriented productions from different countries to the city stage.
The first edition of ‘The Little Festival,' which will run from June 10 to 19, promises to provide the city's children with a colourful escape into a world where magic reigns supreme. Comprising three performances, which will be staged across 10 shows at the Museum Theatre, Egmore, the International festival brings together Germany, Korea and Chennai on a single stage.

Language Lessons

Wait in hiding to attack; Put in a dangerous, disadvantageous, or difficult position
eg: The government will launch a joint venture with private players to build roads under its protection in Naxal-dominated areas where companies fear to tread on their own, taking head-on a bottleneck that has long scuppered welfare schemes and security initiatives.

A harsh noise made by scraping; An abraded area where the skin is torn or worn off; A deep bow with the foot drawn backwards (indicating excessive humility); An indication of damage
eg: Though the strike was called off on Wednesday, the troubles of the ailing behemoth go far beyond union scrapes.

Blatant or sensational promotion; [Brit] Game in which a ring is thrown to fall over an object and win it as a prize

Indian Current Affairs