Quotes for Essays:

Quotes for Essays:

1) Gandhi: https://upscexpress.com/2017/07/16/mahatma-gandhi-quotes-for-essays/

2) Marx: https://upscexpress.com/2017/07/16/karl-marx-quotes/

3) Aristotle: https://upscexpress.com/2017/07/16/aristotle-quotes-for-essay/

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4) Buddha: https://upscexpress.com/2017/07/16/indian-political-thoughts-buddha-quotes/

5) Plato: https://upscexpress.com/2017/07/16/plato-quotes-for-essay/

6) Ambedkar: https://upscexpress.com/2017/07/16/dr-babasaheb-ambedkar-quotes/

7) Kautilya: https://upscexpress.com/2017/07/16/kautilya-chanakya-quotes/

8) Aurobindo Ghosh: https://upscexpress.com/2017/07/16/aurobindo-ghosh-quotes-for-essay/

9) Socrates: https://upscexpress.com/2017/07/16/western-political-thoughts-socrates-quotes/

10) Machiaveli : https://upscexpress.com/2017/07/16/%E2%80%8Bmachiavelli-father-of-realism-quotes/

11) Hobbes: https://upscexpress.com/2017/07/16/wesrer-political-thoughts-thomas-hobbes-quotes/

12) Rousseau: https://upscexpress.com/2017/07/16/rousseaus-quotes-father-of-french-revolution/

!3) John Locke: https://upscexpress.com/2017/07/16/john-locke-quotes-man-who-influenced-american-constitution/

14) J.S. Mill: https://upscexpress.com/2017/07/17/j-s-mill-quotes-father-of-liberalism/

15) Gramsci : https://upscexpress.com/2017/07/17/gramsci-follower-of-marxism-quotes-for-essay-and-ethics/

16) Vivekananda : https://upscexpress.com/2017/07/17/vivekananda-quotes-on-spiritualism-and-life/

17) Montesquieu: https://upscexpress.com/2017/07/17/montesquieu-quotes-use-in-political-essays/

18) Bentham: https://upscexpress.com/2017/07/17/jeremy-benthams-quotes-father-of-utilitarianism/

19) Voltaire : https://upscexpress.com/2017/07/17/voltaire-quotes-for-ethical-and-political-questions-and-essays/

20) Hannah Ardent: https://upscexpress.com/2017/07/17/hannah-arendt-vip-quotes-for-essay-and-ethics/

21) Simone de Beauvoir: https://upscexpress.com/2017/07/17/%E2%80%8Bsimone-de-beauvoirs-quotes-an-ardent-feminist/

22) Immanuel Kant https://upscexpress.com/2017/07/17/immanuel-kant-quotes-use-for-ethical-case-studies/

23) Mother Teresa: https://upscexpress.com/2017/07/17/mother-teresa-quotes-on-peace/

24) F riedrich Nietzsche : https://upscexpress.com/2017/07/17/%E2%80%8Briedrich-nietzsche/

25) Edmund Burke : https://upscexpress.com/2017/07/17/edmund-burke/

26) Jean-Paul Satre: https://upscexpress.com/2017/07/18/jean-paul-saree-quotes/

27) Sigmund Freud: https://upscexpress.com/2017/07/18/sigmund-freud-quotes/

28) Friedrich Hegel: https://upscexpress.com/2017/07/20/friedrich-hegel-quotes-ardent-defendant-of-state-as-an-institution/

29) Henry David Thoreau : https://upscexpress.com/2017/07/20/%E2%80%8Bhenry-david-thoreau/

Everything about Steel Sector

About Steel sector

• In 2016-17, India’s total ‘Finished Steel Production’ for sale was around 100 MT with an apparent consumption of about 85 MT. Thus production of finished steel was sufficient to meet its present demand in the country and also for exports.

• The domestic steel sector contributes around 2% of the country’s GDP and employs over 6 lakh people.

• As per The World Steel Association (worldsteel) report-2017, India ranked third with 95.6 Million Tonnes (MT) in world total steel production of 1630 MT. China with 808 MT and Japan with 105 MT are ahead of India.

• India has very low per capita steel consumption i.e. 65 kg, (US-750; China-400+; World-216), hence steel sector has huge potential.

Concerns:

• Over the last few years, the Steel sector has been adversely impacted by the global steel glut which resulted in predatory pricing and a surge in steel imports into the country.

• Because of which, various projects failed and steel sector accounts for almost 30% of the non-performing assets of the banking industry.

• However, on account of timely intervention by the Government and industry through various trade related measures like anti-dumping and safeguards as well as other policy initiatives, the impact of the global glut were significantly mitigated.

Government Initiatives for Steel sector

• Steel being a de-regulated sector, the role of Government is that of a facilitator only.

• Government lays down the policy guidelines and establishes the institutional mechanism/structure for creating conducive environment for improving efficiency and performance of the steel sector.

• The Government has been proactive in ensuring adequate raw material availability at reasonable prices and explored ways of reducing input, logistic and infrastructure cost of Steel production.

• In order to provide level playing field to domestic steel sector, Government has taken various measures which are as under:

• In 2015, an Anti-Dumping Duty and a provisional safeguard duty was levied on imports of certain variety of products.

• In 2016, Government imposed Minimum Import Price (MIP) on many steel products. Government hiked import duty on various finished and semi-finished steel products.

• This year too, the government safeguarded the interests of domestic players by imposing a 4% additional dumping duty and a 1% countervailing duty.

• The Government has released the National Steel Policy 2017, which has laid down the broad roadmap for encouraging long-term growth for the Indian steel industry.

The National Steel Policy 2017 

• Policy was rolled out to enable the domestic steel industry to reach a capacity of 300 million tonnes (mt) by 2030-31 (against 126 mt now) through concept of Special Purpose Vehicle(SPV)  while setting global benchmarks in terms of quality and technology.

• The policy on preference to Domestically Manufactured Iron and Steel Products aims at facilitating consumption of domestic value-added steel in government procurement in sectors such as oil & gas, shipping, ports and airports.

• The policy mandates value addition of 15% on imported steel to qualify for bidding in government projects.

• Four mineral rich states namely Chhattisgarh, Odisha, Karnataka and Jharkhand have been identified for setting up of Integrated Steel Plants with the collaboration of Central and State PSUs through SPV route.

Steel sector: Year-2017

• The commencement of a long overdue restructuring of the Indian steel industry may be seen as one of the sectoral milestones of 2017.

• The year also saw two policy interventions by the government:

• aimed at boosting domestic production and

• consumption of value-added steel in government projects.

• Several steel companies, including some promoted by big corporate houses, were referred to the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code.

• These happened at a time when the domestic industry regained its fundamentals amid strong export demand and a revival of the domestic market.

Benefits:

Increase in production: Production of finished steel grew by 8.5% over previous financial year whereas consumption grew by 2.6% in 2016-17.

Higher margins: In financial performance, steel firms have started realising higher operating margins on the back of improved domestic and international steel prices.

Domestic factor: Domestic prices improved significantly during the year. Value addition and increased branding saw a thrust from all major firm.

Increase in export: Exports amounted to 8.9 million tonnes in the first 10 months of calendar 2017, against imports of 6.6 million tonnes of finished steel. Indian exporters got a bigger export market at a time when overall sentiment was good. India was net exporter of steel in 2016-17.

Improvement in quality: Indian steelmakers also became more competitive during the year on grounds of quality and their deliveries. Many manufacturers harnessed advanced technology to augment quality.

WRITS Under Article 32

Literal Meaning

  • Habeas Corpus – to have the body of
  • Mandamus – command/order to do the duty to public official
  • Prohibition – to forbid higher court to lower court – prevent from exceeding the jurisdiction (in between the trial)
  • Certiorari – to be certified – superior court to inferior court to squash the order or transfer the case (at the end of the trial)
  • Quo Warranto – By what warrant – Authority or claim of a person to office

 

Writs – Constitutional Meaning

  • Habeas Corpus 
    • Have the body of
    • Produce the detainee
  • Mandamus 
    • Command
    • Against public authority
    • To have him do duty
  • Prohibition
    • Forbid
    • HC to lower court
    • To stop trail
    • Against judicial and quasi judicial
    • preventive
  • Certiorari
    • Certified
    • HC to lower
    • Transfer or squash judgment
    • Preventive and curative
    • Judicial + quasi judicial + administrative
  • Quo Warranto 
    • Authority or warrant
    • Against state – public authority

National Investment and Infrastructure Fund (NIIF)

National Investment and Infrastructure Fund

  • It is a sovereign wealth fund created by the Government of India for enhancing infrastructure financing in the country.
  • NIIF was proposed to be set up as a Trust, to raise debt to invest in the equity of infrastructure finance companies such as Indian Rail Finance Corporation (IRFC) and National Housing Bank (NHB). The idea is that these infrastructure finance companies can then leverage this extra equity, manifold.
  • Its creation was announced in the Union Budget 2015-16.
  • NIIF got registered with SEBI as Category II Alternative Investment Fund (AIF) on December 28, 2015.

Operational Aspects

  • The government has set up this Rs. 40000 crore fund to provide long term capital for infrastructure projects.
  • Government can provide upto 20000 crore per annum into these funds.
  • Government’s contribution/share in the corpus will be 49% in each entity set up as an alternate Investment Fund (AIF) and will neither be increased beyond, nor allowed to fall below, 49%.
  • The whole of 49% would be contributed by Government directly.
  • Rest is open for contribution from others.
  • The contribution of Government of India to NIIF would enable it to be seen virtually as a sovereign fund and is expected to attract overseas sovereign/ quasi-sovereign/multilateral/bilateral investors to co-invest in it.

Exclusive Economic Zone

Introduction

India has a 7,517-km coastline, which is dotted with 12 major ports and 187 minor or intermediate ports. India’s territorial waters end at 12 nautical miles while exclusive economic zone stretches to 200 nautical miles from the coast.

EEZ: Exclusive Economic Zone

An Exclusive Economic Zone (EEZ) is a concept adopted at the Third United Nations Conference on the Law of the Sea (1982), whereby a coastal State assumes jurisdiction over the exploration and exploitation of marine resources in its adjacent section of the continental shelf, taken to be a band extending 200 miles from the shore.

  • The EEZ includes the contiguous zone. Countries also have rights to the seabed of what is called the continental shelf up to 350 nautical miles from the coastal baseline, beyond the EEZ. But such areas are not part of their EEZ.
  • The legal definition of the continental shelf does not directly correspond to the geological meaning of the term, as it also includes the continental rise and slope, and the entire seabed within the exclusive economic zone.

Types of Money

  • Fiat money is a currency established as money by government regulation or law. It differs from commodity money and representative money.
  • Demonetised currency are not fiat money as they are not legal tender
  • Commodity money is created from a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange,
  • while representative money simply represents a claim on such a good.
  • Fiat Money don’t have intrinsic value and are also called legal tenders as they cannot be refused by any citizen of the country for settlement of any kind of transactions.
  • Cheques can be refused by anyone as a mode of payment. Hence they are not legal tenders/fiat money

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Veblen goods

  • A good for which demand increases when its price increases, and vice versa.
  • Luxury goods like diamonds, whose appeal depends on their exorbitant price, are an example. It is named after American economist Thorstein Veblen.
  • Veblen goods are considered exceptions to the law of demand, which states that the demand for a good must decrease as its price increases, and vice versa.
  • Some economists disagree, saying that the law applies only to goods that are truly identical.
  • Cheap diamonds, for instance, may be an inferior good in the eyes of the consumer when compared to expensive diamonds; hence they are not truly comparable.