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CURRENT AFFAIRSTHE HINDU : JUNE 2019

Daily Current Affairs : 24 JUNE 2019: The Hindu Analysis

ANTIBODIES AGAINST CHIKUNGUNYA INFECTION DEVELOPED BY INSTITUTE OF LIFE SCIENCE (ILS)

The Institute of Life Science, under Department of Biotechnology, will partner with a biotech-based company for commercialization and marketing of the antibodies developed in a 60:40 profit sharing ratio. 

The Antibodies so developed will work against the non-structural proteins - nsP1, nsP3 and nsP4 of Chikungunya Virus. These antibodies are highly sensitive and specific polyclonal antibodies against these proteins.

About Chikungunya

  • Chikungunya Virus is the main cause of the Chikungunya.
  • Symptoms : Fever and pain in the joints, headache, muscle pain, joint swelling and rashes.
  • Mortality rate : 1 in 1000.
  • Its virus spread between 2 types of mosquitoes : Aedes albopictus and Aedes aegypti.
  • At present, there is no vaccination is available for this. The patients are only adviced to take fluids and have rest and medication to control fever and joint pain.
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PAKISTAN'S CHARGE OF POLITICISING FATF REJECTED BY INDIA
  • Pakistan has charged India of politicizing the Financial Action Task Force (FATF) to use it for its own "narrow objectives" against Pakistan.
  • India took a strong stand calling this charge a "false policy" meant to deviate attention and evade scrutiny of its poor compliance of global standard.
  • The FATF decided to put Pakistan on the grey list in June 2018 and hand it a 27-point action plan to be implemented in 18 months (by September 2019).
ABOUT FATF
  • Estd. in 1989, it is an inter-govt. body by a Group of 7 Summit in Paris. Its objective is to set standard for adequate implementation of measures to combat money laundering, terror financing and other related  activities that are a threat to the integrity of the international financial system.
  • It monitors the progress of its member nations in implementing essential measures and keeps a check on the terror-financing and money laundering techniques and counter measures.
  • FATF Plenary, the decision making body of FATF, meets 3 times a year.
What are FATF Black and Grey List and its Implications?
  • Black List : Only those nations that FATF considers to be uncooperative tax havens are included in this list. These are called Non-Cooperative Countries or Territories (NCCTs). When a country is placed in this list, then :
    • The country could lose potential loans and foreign investments.
    • It can be put under sanctions by International financial institutions.
    • It can be punished with a downgrade mechanism by top credit rating agencies such as Moody's, S&P and Fitch.
  • Grey List : Countries that are deemed to be secure haven to support terror financing and money laundering are included in this list. Enlisting in this list is a warning to be given to a country that it will be included in the BLACK LIST if necessary actions are not taken. When a nation enters the Grey list, it faces a lot of issues like : 
    • International institutions like IMF, WB, ADB, etc. and countries imposes sanctions.
    • There comes a problem in terms of receiving loans from these international financial institutions.
    • Overall international trade suffers.
    • The country so placed in the list faces an international boycott.
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PLANTS MAY BE SPREADING SUPERBUGS TO HUMANS

According to a study, plant-based foods can be hazard as it could transmit antibiotic resistance to the microbes that resides in our guts.
Antibiotic resistance which is a global threat today to the public health and food safety is now becoming an economic burden.

What is a Superbug?

A superbug, also known as multi-resistant, is a bacterium carrying several genes of multiple-resistance. They are resistant to various antibiotics and can survive even after being exposed to one or more antibiotics.

Like all other living organisms, bacteria undergoes mutation while they multiply and also the bacteria has an inbuilt strong drive to survive. As a result, few of these undergoes mutation in a very specific way that makes them into antibiotic-resistant. 

When antibiotics are introduced in human bodies where these bacteria mutates, only the one who undergoes mutation survives to multiply further to bring more similar bacteria and hence, a line of multi drug resistant bacteria is formed.

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THE EDITORIAL ANALYSIS

NITI AAYOG AND THE REIMAGINATION

Fiscal federalism, is one of the most determining factor of a country's overall growth. It is concerned with fiscal instruments are distributed among various layers of administration. Now when India is on its verge to grow as an aspirational India, there is a need to redesign it across its 4 pillars.





What are the various imbalances that a federation generally face?


Typically there are 2 types : Horizontal and Vertical


A Vertical Imbalance is one that occurs because the tax schemes are built in such a way that the central government receives much higher tax profits than the state or provincial governments and the State govt. receives greater responsibilities as compared to Center. (In case of India, Post GST implementation the share of State govt. in public expenditure is 60% as  compared to that of 40% of Central Govt.)


The Horizontal imbalances occur owing to differential development rates and their developmental status in terms of the state of social or infrastructure resources owing to different levels of attainment by the States. This imbalance is dealt traditionally by Finance Commission which continues to be the first pillar of the new fiscal structure of India.


What is the status of fiscal federation in India?


Specifically in India, there are of 2 types of Horizontal imbalances. These are :

TYPE 1 : It involves basic public goods and services.

TYPE 2 : It occurs because of the growth that accelerates that accelerates infrastructure and capital deficits.

It is here, when NITI AAYOG 2.0 comes into play to remove these imbalances and said to be the second pillar of the federation.

Earlier, Planning Commission used the Gadgil-Mukherjee formula to grant the States as conditional transfers. Now, when it is disbanded, all this responsibility of filling this vaccum lies to Union Finance Commission which is too much to expect from it to perform such dual job. Thus, there is an urgent need for the rearrangement.


Possible solution?


Type 1 horizontal imbalance issue among States must be left with the Union Finance Commission to deal while for the Type 2 horizontal imbalance, Niti Aayog is the most appropriate organ of the federation.


The same structure has to be transferred below to the Third Tier of the government because Intra-state imbalance can prove to be more dangerous than the Inter-State imbalances. Hence, DECENTRALIZATION, has to be the third pillar of the new fiscal structure, making a concentrated move towards 73rd and 74th Constitutional Amendments.


One of the solution for this is to create a Urban Local Body or the Panchayati Raj Institutional Fund by amending Article 266/268/243X/243H of our Constitution. The Center and States should contribute an equivalent percentage of their Central GST (CGST) and State GST (SGST) collections through such constitutional amendments and send the cash to the third-tier consolidated fund.


Also, the State Government must be given the same status as the Finance Commission and the 3Fs (funds, functions and functionaries) of the democratic decentralization must be sincerely taken into force.


The Fourth Pillar?


In the sense of above discussion, model of GST, stand out as the 4th Pillar of this fiscal structure, which is central to all three pillars and will act as a glue which will bind all the four pillars together and thus strengthening India's cooperative federalism.
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EVERYTHING YOU DO NOW IS YOUR FUTURE. THINK ABOUT THAT.

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