Reading Suggestion-1
Article Name: Money madness: The ulta-pulta logic of demonetisation and remonetisation
Author Name: Jug Suraiya
Source: The Times of India
Category: Economy/Humour
Summary for this article:
This satiric article deals with the topic of demonetisation and remonetisation; it discusses briefly one of the major reasons for which it was introduced and how much effective , efficient and penny–wise it has been for India . The author starts with how high currency notes like 1,000 and 500 rupee notes which were banned overnight in India as facilitate bribery and corruption were replaced by even higher currency notes (2,000 notes were introduced and 500 notes was replaced).
Furthermore he emphasises that the new Rs 2,000 note is found to be problematic for use in day-to-day transactions as few shopkeepers and service providers could give change for it. So now, in a re-monetisation exercise, the government is introducing another new note, this time in the denomination of Rs 200, which they hope will solve the problem. While the problem does not end here as for the ATM’s to dispense Rs. 200 notes they have to be upgraded and that is a costly affair. The author concludes that to increase confusion RBI is about to issue new Rs. 10 notes while making it unclear whether the old currency would be in value or not and in this phase of ever-changing currency it would eventually drive us towards insanity.
Words to learn from this article:
Maniac: a person exhibiting extremely wild or violent behaviour
Seize: take hold of suddenly and forcibly
Slush: excessive sentiment
Recalibrate: adjust (experimental results) to take external factors into account or to allow comparison with other data again
Confound: cause surprise or confusion in (someone), especially by not according with their expecta-tions
Reading Suggestion-1: Click to read the full article
Reading Suggestion-2
Article Name: A permanent tribunal to adjudicate river conflicts will not solve any-thing
Author Name: Manoj Misra
Source: Hindustan Times
Category: Current Affairs
Summary for this article:
The article deals with the controversial topic of century-old Cauvery water dispute between Tamil Nadu and Karnataka and other such interstate water disputes; it emphasises on how ending these disputes between states would not lead to any solution rather working for the betterment of these rivers would be fruitful for our country.
The author starts with giving us the examples of various interstate water disputes present in our country especially emphasising on the Cauvery water dispute. On the orders of Supreme Court the centre has planned to start a permanent tribunal to solve such interstate cases. The author states that the underlying assumption of the government and the SC seems to be that our rivers are in good health and shall carry in them, in perpetuity, dispensable water which is not true.Ruthless economic activities have led to an existential crisis for 70% of our rivers. The author concludes that governments do not seem to protect the interests of these rivers but are rather interested in winning these rivers.He further states that having a tribunal would only work if it is empowered and made broad-based in terms of its order and making it’s membership to focus as much on river revival efforts as on deciding claims over the services rendered by the rivers.
Words to learn from this article:
Verdict: a decision on an issue of fact in a civil or criminal case or an inquest
Adjudicate: make a formal judgement on a disputed matter
Perpetuity: the state or quality of lasting forever
Mandate: an official order or commission to do something
Reading Suggestion-2: Click to read the full article
Reading Suggestion-3
Article Name: Africa’s delayed arrival
Author Name: Kaushik Basu
Source: Livemint
Category: Economics
Summary for this article:
This article focuses on how finally after a long struggle African countries are finally on the right track of growth; the challenges faced by them currently and over these years and the measures they should take to be overcome them.
The author starts with the brief discussion about African Economic Outlook for 2018 that has raised hopes for Africa that might at last be witnessing the continent’s long-promised economic arrival. India had a friendly connection with the top leaders of African countries since 1960’s. When all the emerging economies were growing Africa remained stagnant because of the conflicts between gov-ernment and insurgents over their abundant resources, thus leading Africa to struggle with poverty. Finally, at the turn of the 21st century, things began to change for Africa. A few dynamic leaders, democratic stirrings, and emerging regional cooperation led to a decline in poverty and a pickup in growth. Commodity exporters faced a setback around 2014, when prices plummeted. But this turned out to be a blessing in disguise, because it forced countries to diversify their economies and increase production that supported renewed growth.
The serious challenges remain, like South Africa is facing the difficult task of tackling its deep-rooted corruption and also Africa needs to create jobs for it’s working population. He further explains the situation of Tanzania and Ethiopia to give a clear view about the African continent.
The author concludes that African governments must attract more money that would be required to establish effective regulatory structures that facilitate long-term borrowing and repayment, while ensuring that lenders do not exploit borrowers and praised many African countries for mobilising internal resources for development thus making it seem that Africa’s growth moment has arrived at last.
Words to learn from this article:
Revamped: give new and improved form, structure, or appearance to
Turmoil: a state of great disturbance, confusion, or uncertainty
Indigenous: originating or occurring naturally in a particular place; native
Intelligentsia: intellectuals or highly educated people as a group, especially when regarded as pos-sessing culture and political influence
Reading Suggestion-3: Click to read the full article
