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Current Affairs – 07-12-2018

Odisha Chief Minister Naveen Patnaik on Thursday wrote to Chief Ministers of all States and Union Territories seeking their cooperation to ensure 33% reservation for women in Legislative Assemblies and Parliament.

  • Earlier, he had urged Prime Minister NarendraModi to initiate steps to pass the Women’s Reservation Bill in the LokSabha.
  • “The support of Chief Ministers in giving rightful places to women in society will give a new direction towards women empowerment,” Mr. Patnaik wrote in his letter.
  • Stating that women have a major role to play in building the nation and society, he wrote: “Empowerment of women is empowerment of the nation. No household, no society, no state, no country has ever moved forward without empowering its women.”

Analysis of the issue

  • R. Ambedkar once said that “political power is the key to all social progress”. What, then, to make of the fact that India—a country where women suffer substantially greater socio-economic disadvantages than Western democracies like Spain—has a cabinet that is only 22% female and a LokSabha that has a meagre 12% female representation?
  • “Our dream of New India is an India where women are empowered, strengthened, where they become equal partners in the all-round development of the country.” Prime Minister NarendraModi said in his Mann Ki Baat.
  • Political parties in India tend not to follow provisions in their constitutions reserving seats for women in different committees The second barrier is the lack of education and leadership training
  • Since women are not integrated in many local political processes initially, and, unlike men, are not part of the relevant social and power networks, women leaders are prone to inefficiencies
  • The Economic survey for 2017-18 tabled in Parliament said factors such as domestic responsibilities, prevailing cultural attitudes regarding roles of women in society and lack of support from family were among main reasons that prevented them from entering politics.

 

Guidelines for enhancing the credit discipline of large borrowers

  • On December 5, 2018, Reserve Bank of India (RBI) issued guidelines for enhancing the credit discipline of large borrowers by allowing a minimum of 40%of the working capital to be drawn.
  • According to the guidelines, large borrowers having working capital of  150 croresand above can draw a minimum loan component of 40% of the capital.
  • Also, the drawings in excess of the minimum ‘loan component’ threshold may be allowed in the form of cash credit facility.
  • This will be effective from April 1, 2019.
  • Further, the 40 per cent loan component will be revised to 60per cent, with effect from July 1, 2019. 

 

 

Annual Startup India Venture Capital Summit 2018 to be held in Goa

Context: The Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry and the Government of Goa, is hosting the annual Startup India Venture Capital Summit in Goa on December 07, 2018.

About:

  • The theme of the Summit is ‘Mobilizing Global Capital for Innovation in India.’ The event will showcase the Indian startup opportunity for funds from around the world.
  • The summit aims to attract more global capital into the country. The event will enable a dialogue between Government and experienced Venture Capital fund managers on ways to further promote the start-up ecosystem in India.
  • The focus of the Summitis on the huge return-generating potential of India’s vast and diverse market monetized through cutting-edge technologies and supported by investor-friendly regulations.
  • India has the world’s third largest startup base with more than 14,000 recognized Startups. More than 8,200 startups were recognized by DIPP in 2018 alone, leading to the creation of more than 89,000 new jobs this year, taking the total job creation contribution of recognized Startups to 1,41,775.
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