Note4Students
From UPSC perspective, the following things are important :
Prelims level: IBC
Mains level: Paper 3- Impact of IBC
The article analyses the impact of Insolvency and Bankruptcy Code (IBC) on the insolvency resolution and on Indian economy.
Measures that will improve investment
1) IBC: transforming insolvency resolution
- IBC replaced inefficient bankruptcy law regime and has transformed insolvency resolution in India.
- The IBC has focused on time-bound resolution, rather than liquidation.
- IBC acts as an empowering tool to support companies falling within its ambit.
- It has successfully instilled confidence in the corporate resolution methodology.
- It has allowed credit to flow more freely to and within India while promoting investor and investee confidence.
- The IBC is both flexible and dynamic, which makes it impactful, given how forward thinking the concept of an omnibus legislation of its nature actually is.
- Through the Insolvency and Bankruptcy Board of India (IBBI), it has established an unprecedented organisation that both regulates and develops insolvency policy, and assesses market realities.
Impact of IBC
- According to the Resolving Insolvency Index, India’s ranking improved to 52 in 2019 from 108 in 2018.
- Further, the recovery rate improved nearly threefold from 26.5% in 2018 to 71.6% in 2019
- The overall time taken in recovery also improved nearly three times, coming down from 4.3 years in 2018 to 1.6 years in 2019.
2) Decriminalisation of minor offences
- Criminal penalties including imprisonment for minor offences act as major deterrents for investors.
- The Government of India is also working toward decriminalisation of minor offences.
- This will significantly reduce the risk of imprisonment for actions or omissions that are not necessarily fraudulent or an outcome of mala fide intent.
3) Other legislative measures
- Together with the IBC, following 3 reforms suggests major and multi-dimensional effort by the government.
- 1) The rolling out of the commercial courts.
- 2) Commercial divisions and the Commercial Appellate Divisions Act, 2015, to allow district court-level commercial courts.
- 3) Removal of over 1,500 obsolete and archaic laws.
Way forward
- There could perhaps be a look at institutionalising the introduction of a pre-packed insolvency resolution process.
- This will also help resolve matters expeditiously, outside of the formal court system, and allow resolution even during the COVID-19 altered reality.
Consider the question “Examine the impact of Insolvency and Bankruptcy Code (IBC) on the insolvency resolution procedure and suggest the further improvements in the IBC.”
Conclusion
The IBC has provided a major stimulus to ease of doing business, enhanced investor confidence, and helped encourage entrepreneurship while also providing support to MSMEs. Its further streamlining and strengthening will surely instil greater confidence in both foreign and domestic investors as they look at India as an attractive investment destination.
B2BASICS
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: Narcoanalysis, Polygraph Test
Mains level: Not Much
Involuntary administration of narco or lie detector tests is an “intrusion” into a person’s “mental privacy,” a Supreme Court judgment of 2010 has held.
Try this question:
Q.What are the ethical issues associated with the Lie-detection tests?
Various Lie detector tests
(1) Polygraph Test
- A polygraph test is based on the assumption that physiological responses that are triggered when a person is lying are different from what they would be otherwise.
- Instruments like cardio-cuffs or sensitive electrodes are attached to the person, and variables such as blood pressure, pulse, respiration, change in sweat gland activity, blood flow, etc., are measured as questions are put to them.
- A numerical value is assigned to each response to conclude whether the person is telling the truth, is deceiving, or is uncertain.
(2) Narcoanalysis
- Narcoanalysis, by contrast, involves the injection of a drug, sodium pentothal, which induces a hypnotic or sedated state.
- In such a state, the subject’s imagination is neutralized, and they are expected to divulge information that is true.
- The drug, referred to as “truth serum” in this context, was used in larger doses as anaesthesia during surgery and is said to have been used during World War II for intelligence operations.
Why these tests are so (in)famous?
- Investigating agencies seek to employ these tests in the investigation, and are sometimes seen as being a “softer alternative” to torture or “third degree” to extract the truth from suspects.
- These tests put into consideration the international norms on human rights, the right to a fair trial, and the right against self-incrimination under Article 20(3) of the Constitution.
Legal status in India
- In ‘Selvi & Ors vs State of Karnataka & Anr’ (2010), a Supreme Court Bench comprising CJI ruled that no lie detector tests should be administered “except on the basis of the consent of the accused”.
- Those who volunteer must have access to a lawyer, and have the physical, emotional, and legal implications of the test explained to them by police and the lawyer, the Bench said.
- It said that the ‘Guidelines for the Administration of Polygraph Test on an Accused’ published by the National Human Rights Commission in 2000, must be strictly followed.
- The subject’s consent should be recorded before a judicial magistrate, the court said.
What was the latest Judgement?
- Involuntary administration of narco or lie detector tests is an “intrusion” into a person’s “mental privacy,” a Supreme Court judgment of 2010 has held.
- The consequences of such tests on “individuals from weaker sections of society who are unaware of their fundamental rights and unable to afford legal advice” can be devastating.
- It may involve future abuse, harassment and surveillance, even leakage of the video material to the Press for a “trial by media.”
- Such tests are an affront to human dignity and liberty and have long-lasting effects.
- “An individual’s decision to make a statement is the product of a private choice and there should be no scope for any other individual to interfere with such autonomy,” the apex court had held.
Legal status of its outcome
- The results of the tests cannot be considered to be “confessions”, because those in a drugged-induced state cannot exercise a choice in answering questions that are put to them.
- However, any information or material subsequently discovered with the help of such a voluntarily-taken test can be admitted as evidence, the court said.
- Thus, if an accused reveals the location of a murder weapon in the course of the test, and police later find the weapon at that location, the statement of the accused will not be evidence, but the weapon will be.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: Conference on Disarmament (CD)
Mains level: Nuclear disarmament
India has supported the holding of negotiations on a Comprehensive Nuclear Weapons Convention at the Conference on Disarmament (CD). It reiterated its commitment to the disarmament of nuclear weapons in a step-by-step non-discriminatory process.
List out various factors which are preventing the nuclear disarmaments amongst the nations.
About the Conference on Disarmament (CD)
- The CD is a multilateral disarmament forum established by the international community to negotiate arms control and disarmament agreements based at the Palais des Nations in Geneva.
- The Conference meets annually in three separate sessions in Geneva.
- The Conference was first established in 1979 as the Committee on Disarmament as the single multilateral disarmament negotiating forum of the international community.
- It was renamed the Conference on Disarmament in 1984.
Recent developments from India
- India has not revised its key principles regarding the weapons in its arsenal.
- Raksha Mantri has earlier hinted at a possibility of changing the No First Use (NFU) principle by declaring that ‘circumstances’ will determine the “No First Use” stance.
India stands committed
- India believes that nuclear disarmament can be achieved through a step-by-step process underwritten by a universal commitment and an agreed multilateral framework.
- India remains convinced of the need for meaningful dialogue among all states possessing nuclear weapons, for building trust and confidence.
- India also remains committed to negotiations regarding a Fissile Material Cut-off Treaty in the CD on the basis of the report of the Special Coordinator or CD/1299 which dates to March 24, 1995.
B2BASICS
India’s No first use doctrine
For India, Nuclear weapons are political weapons and not weapons of war and their sole purpose is to deter the use of nuclear weapons by India’s adversaries. India has nit only established itself as a responsible nuclear state, but guided the world about how to be a responsible nuclear state through No first use policy.
Features of India’s nuclear doctrine:
- Building and maintaining a credible minimum deterrent.
- A “No First Use” policy i.e. nuclear weapons to be used only in case of any nuclear attack on Indian territory or on Indian forces anywhere.
- Non use of nuclear weapons against non-nuclear weapon states.
- Nuclear retaliatory attacks to be authorised only by civilian political leadership through the Nuclear Command Authority.
- Nuclear retaliation to a first strike will be massive and designed to inflict unacceptable damage.
- India may retaliate with nuclear weapons to retaliate against attack with biological or chemical weapons.
- Strict controls on export of nuclear and missile related materials and technologies.
- A commitment to goal of nuclear weapon free world.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: Atal Tunnel
Mains level: Significance of the Border Infrastructure
PM Modi has inaugurated the Atal Tunnel at Rohtang at an altitude of above 3,000 metres in Himachal Pradesh.
Refer this link to read more about Himalayan passes and rivers
https://www.civilsdaily.com/the-northern-and-northeastern-mountains-part-1/
Atal Tunnel
- The 9.02 km-long-tunnel, built by the Border Roads Organisation (BRO), is the world’s longest highway tunnel and connects Manali to Lahaul-Spiti valley.
- It provides all-weather connectivity to the landlocked valley of Lahaul-Spiti, which remains cut-off for nearly six months in a year as the Rohtang Pass is usually snow-bound between November and April.
- Before the tunnel construction, the Lahaul Valley used to remain closed for vehicular movement due to bad weather conditions.
- It reduces the distance by 46 km between Manali and Leh and the travel time by about 4 to 5 hours. It is expected to boost tourism and winter sports in the region.
- The tunnel, also significant from the military logistics viewpoint, will provide better connectivity to the armed forces in reaching Ladakh.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: Shaurya Missile
Mains level: India's missile programme
A successful trial of the nuclear-capable Shaurya missile was conducted by India.
Shaurya Missile
- Shaurya is a land-based parallel of the submarine-launched K-15 missile.
- It is a land variant of short-range SLBM K-15 Sagarika, which has a range of at least 750 kilometres.
- These ballistic weapons belong to the K missile family — codenamed after late Dr APJ Abdul Kalam — which is launched from Arihant class of nuclear submarines.
- Because these missiles are to be launched from submarines, they are lighter, smaller and stealthier than their land-based counterparts; the Agni series.
A look at what this family of missiles is their strategic importance as a nuclear deterrent and their recent tests.
K Family of missiles
- The K family of missiles is primarily Submarine Launched Ballistic Missiles (SLBMs), which have been indigenously developed by DRDO.
- These are named after Dr Kalam, the central figure in India’s missile and space programmes who also served as the 11th President of India.
- The development of this naval platform launched missiles began in the late 1990s as a step towards completing India’s nuclear triad (land, sea and air-based).
Strategic importance of SLBMs
- The capability of being able to launch nuclear weapons submarine platforms has great strategic importance in the context of achieving a nuclear triad, especially in the light of ‘no first use’ policy of India.
- The sea-based underwater nuclear-capable assets significantly increase the second strike capability of a country and thus boosts its nuclear deterrence.
- These submarines can not only survive the first strike by the adversary but also can launch a strike in retaliation thus achieving Credible Nuclear Deterrence.
- The development of these capabilities is important in light of India’s relations with the two neighbours China and Pakistan.
Try this PYQ now:
What is “Terminal High Altitude Area Defense (THAAD)”, sometimes seen in the news? (CSP 2018)
(a) An Israeli radar system
(b) India’s indigenous anti-missile programme
(c) An American anti-missile system
(d) A defence collaboration between Japan and South Korea
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: Cannabidiol
Mains level: Not Much
These days, there are diverse opinions rising regarding the legalization of CBD oil in India after recent controversy rose after the alleged suicide of an actor.
What is CBD oil?
- CBD oil is an extract from the cannabis plant.
- The two main active substances in it are cannabidiol or CBD and delta-9 tetrahydrocannabinol, or THC.
- The high that is caused by the consumption of cannabis is due to THC.
- CBD, however, does not cause a “high” or any form of intoxication.
- CBD oil is made by extracting CBD from the cannabis plant, then diluting it with a carrier oil like coconut or hemp seed oil.
What are the effects of Cannabidiol?
- Cannabidiol has effects on the brain, preventing the breakdown of a chemical that aggravates the pain and affects mood, and mental function. It can reduce pain and anxiety.
- It also reduces psychotic symptoms associated with conditions such as schizophrenia as well as epilepsy.
Is it legal in India?
- The Narcotic Drugs and Psychotropic Substances Act, 1985 (NDPS Act) outlaws the recreational use of cannabis.
- The NDPS Act, however, does not apply to the leaves and seeds of cannabis plants. In case the CBD is extracted from the leaves of the cannabis, then technically it is not illegal.
- CBD oil manufactured under a licence issued by the Drugs and Cosmetics Act, 1940 can be legally used.
- However, the use of cannabis as a medicine is not much prevalent in India.
Now try this PYQ:
Q. Widespread resistance of malarial parasite to drugs like chloroquine has prompted attempts to develop a malarial vaccine to combat malaria. Why is it difficult to develop an effective malaria vaccine?
A) Malaria is caused by several species of Plasmodium
B) Man does not develop immunity to malaria during natural infection
C) Vaccines can be developed only against bacteria
D) Man is only an intermediate host and not the definitive host
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: Kamchatka Peninsula
Mains level: Not Much
An ‘ecological disaster’ of sorts is unfolding on a black volcanic beach of the Kamchatka Peninsula in the Russian Far East, according to a report.
Note the features of the map and surrounding seas.
About Kamchatka Peninsula
- The Kamchatka Peninsula is a 1,250-kilometre-long peninsula in the Russian Far East.
- The Pacific Ocean and the Sea of Okhotsk make up the peninsula’s eastern and western coastlines, respectively.
- Immediately offshore along the Pacific coast of the peninsula runs the 10,500-metre-deep Kuril–Kamchatka Trench.
- The Kamchatka Peninsula, the Commander Islands, and Karaginsky Island constitute the Kamchatka Krai of the Russian Federation.
- The vast majority of the 322,079 inhabitants are ethnic Russians, although about 13,000 are Koryaks (2014).
- The Kamchatka peninsula contains the volcanoes of Kamchatka, a UNESCO World Heritage Site.
Why in news?
- Then, sea animals begin to die in large numbers, their bodies littering the beach.
- These included octopuses, seals, sea urchins, stars, crabs and fish.
- Examination of the seawater by the administration has shown that levels of phenols and oil compounds have spiked.
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Note4Students
From UPSC perspective, the following things are important :
Prelims level: Madhuca diplostemon
Mains level: Not Much
A tree species, long believed extinct, has been rediscovered after a gap of more than 180 years from a sacred grove in Kollam district.
Try this PYQ:
Q.Consider the following statements:
- Biodiversity hotspots are located only in tropical regions.
- India has four biodiversity hotspots i.e., Eastern Himalayas, Western Himalayas, Western Ghats and Andaman and the Nicobar Islands.
Which of the above statements is/ are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Madhuca diplostemon
- Scientists have identified the tree as Madhuca diplostemon (family Sapotaceae), a threatened species of the Western Ghats whose specimen was first collected in 1835.
- In 1835, Robert Wight, a surgeon-botanist with the East India Company, had collected three specimens of the species.
- Only one mature tree has been found so far, which makes this remarkable rediscovery extremely valuable from a scientific, environmental and conservation point of view.
- Since the species is represented only by one specimen in a single locality, it is eligible to be categorised ‘Critically Endangered’ by the IUCN.
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