Daily Prelims Notes 8 July 2020
- July 8, 2020
- Posted by: admin1
- Category: DPN
Table Of Contents
- F1 and M1 visa
- Parliament Committees
- Trade surplus
- Strategic Forces Command(SFC)
- Countering America’s Adversaries Through Sanctions Act (CAATSA)
US State Department has announced that it would not issue visas to students enrolled in schools that are fully online in the upcoming semester.
- F1 visas are issued to students attending an academic program in the United States and M1 visas are for students enrolled in vocational studies.
- All students with active F1 and M1 non-immigrant visas will not be allowed in the US and those already present in the country may be asked to depart if they are not receiving a minimum amount of in person instruction.
- The move is likely to impact 2 lakh Indian students in the United States.
Members of departmental Standing Committees of Parliament are gearing up for some tough questioning of the Central Ministries on the Covid-19 lockdown, the migrant crisis and the locusts attack.
Department related Standing Committees
- The main objective of the standing committees is to secure more accountability of the Executive (i.e.,the Council of Ministers) to the Parliament, particularly financial accountability. They also assist the Parliament in debating the budget more effectively.
- The 24 standing committees cover under their jurisdiction all the ministries / departments of the Central Government.
- Each standing committee consists of 31 members (21 from Lok Sabha and 10 from Rajya Sabha). The members of the Lok Sabha are nominated by the Speaker from amongst its own members, just as the members of the Rajya Sabha are nominated by the Chairman from amongst its members.
- A minister is not eligible to be nominated as a member of any of the standing committees.
- The term of office of each standing committee is one year from the date of its constitution.
- Out of the 24 standing committees, 8 work under the Rajya Sabha and 16 under the Lok Sabha.
The RBI has released India’s balance of payments data for the fourth quarter of financial year 2020.
- India has attained a small current account surplus which is around 0.1 per cent of the GDP.
- This is largely driven by a lower trade deficit.
- This is a rare occurrence because since 1976-77, there has not been a single year when India did not incur a substantial merchandise trade deficit.
- Improvement in trade balance has been driven mainly by a sharper decline in imports. This is a warning sign for the economy as the decline in imports, especially in merchandise goods, points towards a contraction of demand in the real economy.
- A surplus on account of invisibles, emanating mainly out of services exports and remittances, India’s substantial trade deficit turns into a moderate current account deficit
- Reason for long term trade deficit: Lack of export dynamism in comparison with our East Asian neighbours is reason for trade deficit and also large imports of oil, gold, and electronics have chronically inflated our import bills.
- Trade balance of a country shows the difference between what it earns from its exports and what it pays for its imports.
- If it is in negative that is, the total value of goods imported by a country is more than the total value of goods exported by that country, then it is referred to as a “trade deficit”.
Current Account deficit
- A current account deficit is a trade measurement that says a country imported more goods, services, and capital than it exported.
- It encompasses the trade deficit plus capital like net income and transfer payments.
- Current Account = Trade gap + Net current transfers + Net income abroad
Subject: Government organization
Standoff between China and India last month has brought focus on India’s nuclear capability.
- Strategic Forced Command (SFC), also sometimes known as Strategic Nuclear Command, forms part of India’s nuclear National Command Authority (NCA which is responsible for command and control decisions regarding India’s nuclear weapons program).
- It was created on January 4, 2003 by an executive order of Cabinet Committee on Security (CCS).
- It is responsible for the management and administration of the country’s tactical and strategic nuclear weapons stockpile.
- It is the responsibility of the Strategic Forces Command to operationalize the orders of the NCA under the leadership of a Commander-in-Chief who is a Senior Officer.
- It has the sole responsibility of initiating the process of delivering nuclear weapons and warheads, after acquiring clear approval from the NCA.
As India planned to finalise jet fighter deal with Russia, U.S announced that sanctions for the purchase of Russian arms has not changed under CAATSA
- The Countering America’s Adversaries Through Sanctions Act (CAATSA) aims at taking punitive measures against Russia, Iran, and North Korea.
- Title II of the Act primarily deals with sanctions on the Russian oil and gas industry, defence and security sector, and financial institutions, in the backdrop of its military intervention in Ukraine and its alleged meddling in the 2016 US presidential elections.
- Section 231 empowers the US President to impose at least five of 12 listed sanctions on persons engaged in a “significant transaction” with the Russian defence and intelligence sectors.
- The US State Department has notified 39 Russian entities, “significant transactions” with which could make third parties liable to sanctions.
- Almost all major Russian defence manufacturing and export companies/entities including Almaz-Antey Air and Space Defence Corporation JSC, the manufacturers of the S-400 system, are on the list.