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The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) is an Act of
the Parliament of India to institutionalize financial discipline, reduce India's fiscal deficit, improve
macroeconomic management.
The main purpose was to eliminate revenue deficit of the country (building revenue surplus
thereafter) and bring down the fiscal deficit to a manageable 3% of the GDP by March 2008.
However, due to the 2007 international financial crisis the deadlines for the implementation of
the targets in the act was initially postponed and subsequently suspended in 2009.
In 2011, given the process of ongoing recovery, Government of India to reconsider reinstating the
provisions of the FRBMA.
N. K. Singh is currently the Chairman of the review committee for Fiscal Responsibility and
Budget Management Act, 2003, under the Ministry of Finance (India), Government of India.
A great wall of paranoia
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Intro:- Three years after the plan for the OROB Initiative was announced, China has concluded
the first Belt and Road Forum.
While 130 countries participated, of which at least 68 are now part of the $900-billion
infrastructure corridor project, India boycotted the event.
India's reservations, according to the carefully worded statement issued by the Ministry of
External Affairs, are threefold.
1)-The B&RI’s flagship project is the China-Pakistan Economic Corridor, which includes projects
in the Gilgit-Baltistan region, ignoring India’s “sovereignty and territorial integrity”.
2)-The B&RI infrastructure project structure smacks of Chinese neo-colonialism, and could cause
an “unsustainable debt burden for communities” with an adverse impact on the environment.
3)-There is a lack of transparency in China’s agenda, indicating that New Delhi believes the B&RI
is not just an economic project but one that China is promoting for political control.
These concerns are no doubt valid, and the refusal to join the B&RI till China addresses the
objection over Gilgit-Baltistan is understandable.
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Learning from others
Both the U.S. and Russia are proceeding rapidly with their bilateral cooperation with China.
Nepal, Bangladesh, Sri Lanka and Myanmar are all pursuing economic cooperation with China
Chinese neo-colonialism?
Can anyone, for instance, make a credible argument that Vietnam — a country that has
resisted China for a millennia — will fall under the dragon’s sway because of an engagement with
the B&RI?
What about Russia, one of the world’s strongest military powers with a history of geopolitical
experience in Eurasia?
Will it fall under China’s spell because a few billion dollars were invested in its economy or on its
Central Asian periphery?
Of course not! Even closer home, a tiny island state like Sri Lanka has apparently resisted certain
provisions for port usage in the Hambantota project with China on sovereignty grounds.
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In short, there’s more room to shape the ongoing power transition towards a multipolar world.
Schizophrenia(पागलपन) cannot be substitutes for smart and sober statecraft, which must include
dealing directly with China.
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A
The long journey of a forgotten people
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Intro:- Prime Minister Narendra Modi’s public rally on May 12 with Sri Lanka’s - 35,000
people from in and around the central highlands converged on the small town of Norwood
Hill-country leaders who met Mr. Modi sought greater assistance in education, which remains a
crucial need.
Most estate schools lack teachers for mathematics and science, limiting higher education and
employment choices for students.
2015 vote, hill-country Tamils made an important political shift, breaking away from the CWC
that supported Mr. Rajapaksa.
Now Ministers in the government, they have been vocal in their disappointment over slow
progress on many fronts, including post-war reconciliation with minorities and a political
solution to Tamil grievances- offred to build
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Article 142 and the need for judicial restraint
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Intro:- Recent judgments of the Supreme Court invoking Article 142 of the Constitution to
achieve results of a far-reaching nature, outside the laws governing the issues.
Article 142 provides that “the Supreme Court in the exercise of its jurisdiction may pass such
decree or make such order as is necessary for doing complete justice in any cause or matter
pending before it…”
Efforts to bring complete justice to various deprived sections of society or to protect the
environment.
Application by the Supreme Court of Article 142
Union Carbide case — relating to the victims of the Bhopal gas tragedy- it could even override
the laws made by Parliament by holding that.
Supreme Court Bar Association v. Union of India- It was said therein that the said article could
not be used to supplant(उखाड़ना) the existing law, but only to supplement the law.
Unfortunately, these judgments have created an uncertainty about the discretion vested in the
court to invoke Article 142 where even fundamental rights of individuals are being ignored.
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However, in recent years, one has come across several judgments of the Supreme Court wherein it
has been foraying(invasion) into areas which had long been forbidden to the judiciary by reason
of the doctrine of ‘separation of powers’, which is part of the basic structure of the Constitution.
The time has come for the Supreme Court to introspect on whether the use of Article 142 as an
independent source of power should be regulated by strict guidelines.
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Page-1,10,11- Cabinet gives nod for 10 indigenous nuclear reactors