Daily News Analysis And Current Affairs Editorials - TrentEd

Goods And Services Tax (GST)

GST was one of the most talked about national event, it's being ratified by more than 16 states has given it’s a green light. Parliamentarians are now thinking of giving it the presidential assent so that it can become a law. On the international front also it is lauded by the Head of the States, saying this path breaking step for Indian economy in which now there is one tax which takes care of every minute details of taxation system.

G20 Summit News Updates

G20 summit happened in Hangzhou province of China where India also participated. In this summit, talk on climate was done and much emphasis was laid that climate should be protected by all the developed and the developing countries. India is also very keen on this and said that this cause which have full participation from India.

India-Myanmar Discuss How To Increase Security

Another important event was the High level talk between India and Myanmar. Myanmar is crucially important for India because of proximity with the north eastern states and is close to China too. But with this talk the diplomatic ties between them has been strengthened. They talked about insurgency and terrorism and to take necessary steps to halt them. Myanmar is newly democratic government so closer ties with India will only assist in becoming stronger and stronger.

Kashmir Was The Most Important National Issue

On the national front, Kashmir was the most important national issue. Centre has newly appointed committee which has leadership across all parties to look into the Kashmir issue and which has permanent solutions. India being a democratic country has always given importance to facilitate dialogues between different groups. So the separatists groups they are also invited in to talk with other leaders of India so that a common ground can be formed and the peace prevails in the valley.

Millions Of Workers They Strike Last Week To Raise Wages

Millions of workers they strike last week to raise wages for unskilled occupations. They were assisted by unions who worked as their spokespersons. Their main line of argument is that the pay increased by central government is not sufficient and should be increased to 18000 a month because of price rise. Union also demanded that workers should also come under government schemes to cover their social security. Centre considered all the demands of the unions and is taking them into considerations.

TrentEd provides IAS preparation online. It provides a range of study material. It covers all the important happenings at the national and international level. 

Upcoming BRICS SUMMIT 2016 - Current Affairs Updates From TrentEd

This India is going to host summit of BRICS in Panaji, Goa from 15th to 16th October 2016. India is to assume chair of BRICS from Feb 2016 to Dec 2016. At the summit India plans to hold a trade fair, a film festival and the BRICS U-17 football cup.

BRIC was first time used by goldman sachs thesis projecting that the economic potential of Brazil, Russia, India and China and was formed on 16 June 2009. In 2010 South Africa joined this group. It was formed with the idea of changing the global economy by shifting investor`s focus from established, industrial markets to emerging ones. The association consists of Brazil, Russia, India, China and South Africa and makes up 40% of the world's population, 24% of the world`s GDP and 39% of the globe`s land mass.

This BRICS summit is important on various diplomatic and political levels. There is huge speculation on the continuance of this group as a whole. India and China are ore of competing neighbours then allies and their chances of agreement in this group is more of unstable nature. We know that china`s aggression on eastern front of India and the issues on Tibet autonomy. Brazil, South America`s largest economy and a huge success story until recently faced one of its worst recessions in 2015. The IMF on Jan 19 downgraded the economy forecast for Brazil. The country's political uncertainty and high level of corruption have only added to the economic turmoil. Similarly Russia has faced increasing economic problem after the west imposed economic sanctions on it following its incursion in the Ukraine. Russia entered a recession in 2015 and saw the drastic decline of the rouble.

The strong dollar increased the interest payments on the country's dollar denominated debt. The international Monetary fund has cut its economic growth forecast for south Africa by almost half to .7%, citing weak commodity prices and high borrowing costs. South Africa's economy has been shrinking. China`s slowing growth has impacted South Africa's economy, leading to a dramatic slump in gold, platinum, coal and iron ore prices. China's slowdown has been arguably the biggest part of global uncertainty. Recently its GDP has fallen to 7% from 10%. India has high potential but it is struggling from high level of poverty, political infighting and corruption.

With such situation at the background, the upcoming summit would be very crucial. It would be interesting to see that how these major economies are going to deal with economic crisis and the diplomatic differences among member countries like India and China. BRICS as group should remember that they have come together for increased economic reform, demanding a greater voice and representation in international financial institutions and their heads and senior leadership should be appointed through an open, transparent and merit based selection process. One of the most important issues was that of UN reforms, global financial crisis, global development and further strengthening of the BRICS group.