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CURRENT AFFAIRS (16.12.2014)

1. The road to Paris After two weeks of jawboning, the Lima climate change meet seems to have achieved precious little. Both the developing and the developed world camps have claimed victories, an indication of how wishy-washy the final declaration is. Differences have merely been papered over, with the developed world getting away without making any worthwhile commitments on finance and technology transfer. The can of contentious issues has been kicked down the road, perhaps all the way to Paris where the next major meet takes place in December 2015. India claims satisfaction over the reinsertion of the Kyoto Protocol […]

CURRENT AFFAIRS (15.12.2014)

1. Link policies to behaviour for better outcomes: World Bank Development policies become more effective when combined with insights into human behaviour, argues the World Development Report 2015: Mind, Society, and Behaviour. The report has found that policy decisions informed by behavioural economics have delivered impressive improvements in healthcare and education in parts of India.Open defecation dropped 11 per cent from very high levels, the report found, after a Community-Led Total Sanitation (CLTS) programme was combined in some chosen villages with the standard approach of subsidies for toilet construction and information on the transmission of diseases.The likelihood of default on […]

CURRENT AFFAIRS (14.12.2014)

1. Lima summit headed for an inconclusive finish Climate talks seemed to be headed for an inconclusive finish as parties objected to the lack of transparency and consultative process before the latest five-page draft was released early Saturday morning.While another plenary got under way on Saturday, as talks extended by a day, things look grim. Rejections, reservations The new text was rejected by the Africa Group, the least developed countries, the like minded developing countries and some other groups expressed reservations as the plenary progressed with European Union and some others supporting the text.After objections to a new draft text […]

CURRENT AFFAIRS (13.12.2014)

1. Better to‘Make for India’: Rajan Reserve Bank Governor Raghuram Rajan on Friday cautioned the government on Prime Minister Narendra Modi’s ‘Make in India’ mantra, suggesting that India would have to look for regional and domestic demand for growth — to make in India primarily for India.Dr. Rajan said that at this stage, an exports-push strategy for growth would be ineffective; as the industrial world stagnated, many emerging markets were rethinking their export-led growth model, he said. He was delivering the Bharat Ram Memorial Lecture here.“There is a danger when we discuss ‘Make in India’ of assuming it means a […]

CURRENT AFFAIRS (12.12.2014)

1. CAD has widened but comfortable: Raghuram Rajan At a time when India’s current account deficit (CAD) has widened to $10.1 billion in the quarter ended September 2014, Reserve Bank of India Governor, Raghuram Rajan, allayed concerns saying, the central bank is still comfortable with the CAD at 2.1% of gross domestic product (GDP). “Current account deficit has certainly widened. But still 2.1% is comfortable. The direction is something that we will be watching closely,” Rajan said at a news conference after the central bank’s board meeting here. “There are risks to the current account, there are risks to everything. […]