NEWS INSIGHT FOR THE DAY: MARCH 12, 2019

SC may send plea challenging quota bill to

Constitution Bench
After the passing of 124th constitution amendment bill which provides 10 per cent
reservation in government jobs and educational institutions to economically
weaker backward in unreserved category.
The act amends articles 15 and 16 of the constitution adding clauses empowering
the government to provide reservation on the basis of economic backwardness.
Now petitions have been filed against 10 per cent quota bill citing it violated the
basic structure doctrine. Petitioner argued that 50% ceiling was engrafted as a
part of basic structure of constitution ruled in Indira Sawhney case.
Supreme Court scheduled the hearing for March 28 to consider the question of
whether the challenge to the 10% economic reservation law should be heard by
constitution bench.

DGCA issues advisory for Boeing 737 MAX 8

Director-General of Civil Aviation issued an Advisory for Boeing 737 MAX 8
aircraft, a day after an Ethiopian airliner crashed near Addis Abada killing all 157
persons on board.
DGCA stipulated the minimum flying hours for pilots for this aircraft, A pilot-in -
command required to have 1,000 hours for flying time on a Boeing 737 next
generation aircraft. DGCA also tightened some technical standards.
This the second Boeing Max plane to have crashed in span of few months. On
October 29, 2018, a Lion Air Boeing 737 MAX 800 plane with 189 people on board
crashed soon after off in Indonesia.

India is world’s second largest arms

importer
According to the latest report published by the Stockholm International Peace
Research Institute (SIPRI). India was world’s second largest importer of major
arms in 2014-2018 and accounted for 9.5% of the global total. First place is still
retained by Saudi Arabia, which accounted for 12% of the total imports during the
period.
However, Indian imports decreased by 24% between 2009-13 and 2014-18, partly
due to delays in deliveries of arms produced under license from foreigner
suppliers.
In 2009-13 imports of Indian arms from Russia were 76%, while in the period of
2014-18 it has reduced to 58%. Israel, the U.S., and France all increased their arms
exports to India in 2014-18.
Pakistan stood at the 11th position accounting for 2.7% of all global imports. Its
biggest source was China from which 70% of arms were sourced, followed by U.S.
at 8.9% and, interestingly, Russia at 6%.
Five largest exporters in 2014-18 were the United States, Russia, France,
Germany, and China together accounting for 75% of total volume of arms exports
in 2014-18.
ESSAR steel ex-directors move to NCLAT
against tribunal order
ArcelorMittal may have to wait to take control of ESSAR steel as three former
directors of the earstwhile board of the bankrupt steel firm have moved to
National Company Law Appellate Tribunal (NCLAT) against the order of the
Ahmedabad Bench of National Company Law Tribunal (NCLT).
As far as the resolution process in concerned after the verdict of NCLT, if involved
party was not satisfied, they can move to NCLAT and further to Supreme Court.

Uncertain govt. policies clouded developer

sentiment, hit solar capacity addition: Crisil
Crisil in its report said that inconsistent government actions have cast a shadow
over developer sentiment in the solar sector and slowed down capacity addition
momentum. This will result in the government achieving only 60% of its 100GW
target by 2022.
Crisil in its reports stated that imposition of safeguard duty on solar components
imports and the uncertainty of over the goods and services treatment of this
sector were the main factors resulting in slowdown in capacity addition.

India ranks 11th in gold holding

India, which is the largest consumer of gold, has the 11th largest reserve gold
reserve, with the current holding pegged at 607tonnes, as per the latest report by
World Gold Council (WGC).
Highest gold reserve slot is occupied by the U.S. which boasts 8133.5tonnes,
followed by Germany with 3,369.7tonnes. IMF is included and in third on the list
with total gold reserves of 2,814tonnes
Among South Asian countries China topped the list followed by Japan.
ITU to inaugurate its first-ever innovation
centre in India by july
The United Nations telecom body ITU plans to set up its first-ever innovation
centre in India to incorporate technologies from south Asian countries and
emerging economies in standards for technologies.
The innovation centre is expected to give opportunity to Indian technological
firms to make their case for being part of global standards.
Indian companies in the past have obtained patents for telecom technologies.
However, they have not been able to reap business benefit as their technologies
could not be incorporated in global standards due to low engagement of the
country in international technology bodies.