The Hindu Editorial : March 28,2019
The Hindu Editorial : March 28,2019
Daily Current Affairs (March 28, 2019) like many other sections is inevitable and this also helps to score in the Banking awareness, Static GK and Financial Awareness sections. Remember, Banking Awareness and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.
A) Saving Jet: on Jet Airways crisis
With the airline landing in the laps of banks, the challenge now is to quickly find a buyer
The decision of Naresh Goyal and Anita Goyal, his wife, to step down from the board of Jet Airways and cede control to its lenders has come not a moment too soon. By hanging on to the troubled airline and refusing to let go, Mr. Goyal brought Jet to the brink, imperilling 16,000 direct jobs and ₹6,000 crore of outstanding debt to banks. Even as banks, obviously prodded by the government, stepped in with a rescue plan in February that would give them a controlling stake in the airline through conversion of a part of their dues, Mr. Goyal refused to keep his side of the bargain. In the meanwhile, the airline continued to nosedive with aircraft being repossessed by lessors, pilots threatening to strike work and schedules going for a toss. It is just as well that Mr. Goyal finally saw reason and resigned from the Jet Airways board. This signals the start of a rescue act to save the airline, but whether it succeeds will depend on a host of factors, including the ability of banks to quickly find a buyer to pilot it.
Meanwhile, the active role played by banks in devising the rescue plan and also committing fresh funds of ₹1,500 crore has already come under question. The Insolvency and Bankruptcy Code was enacted precisely to handle situations such as what Jet found itself in. In the normal course, the airline would have been dragged to bankruptcy court for a resolution as many other truant borrowers have been in the last two years. But, just ahead of elections, the government obviously did not want a high-profile bankruptcy with thousands of jobs lost and inconvenience to the public through disrupted flight schedules and higher airfares. While this explains why banks were prodded into rescuing Jet, the fact remains that they are ill-suited to run an airline. Besides, there is the risk of setting a precedent for other defaulters to try to stay out of the tentacles of the IBC. Already, fugitive economic offender Vijay Mallya, whose Kingfisher Airlines collapsed, is asking why he was not offered a bailout as Jet has been. That said, the priority of banks now is to exit from Jet as soon as they can with their money intact. That means finding an investor or a strategic buyer to offload their stake quickly. That is not going to be an easy task, but the alternative for the banks — of running the airline themselves — is not a practical option. The banks also have to guard against Mr. Goyal trying to stage a comeback in some manner in the event that the lenders fail to find a buyer. Such an eventuality would be a violation of the spirit of the IBC and also encourage recalcitrant borrowers.
B) Slow on sanitation
Policymakers have failed to use technological advances made in treating faecal sludge
The tragic death of six people who entered a septic tank in Tamil Nadu’s Sriperumbudur town is a grim reminder that sanitation remains a low-priority area despite the high political profile of Swachh Bharat. Public understanding of the science of managing septic tanks continues to be poor, and the availability of cheap labour to clean these structures has slowed efforts to develop technologies that can safely remove and transport the waste. Sanitation thus remains a challenge in thousands of unsewered towns. What sets the incident apart from the several instances of people dying of asphyxiation in the tanks is that some of the victims were the owners of the property and not workers. Three people collapsed while inspecting their residential septic tank, and others who tried to save them also perished. Although workers were not affected in this case, it confirms Tamil Nadu’s abysmal overall record at raising sanitation standards. Since 1993, when the first law was passed against manual cleaning, there were at least 144 worker deaths in Tamil Nadu as of November 2018, according to official data reported to the Centre for grant of compensation. Karnataka, Uttar Pradesh and Punjab also fared badly with a cumulative toll of 146 lives lost during that period. But this is obviously a gross underestimate, since the Safai Karmachari Andolan, which has litigated in the Supreme Court seeking to aggressively prosecute offenders, contends that septic tank cleaning claimed nearly 1,500 lives between 2014 and 2016. More reports of deaths continue to come in.
Every death of a manual worker represents a crime, since the Prohibition of Employment as Manual Scavengers and their Rehabilitation Act, 2013 makes the use of such labour to clean septic tanks an offence punishable with imprisonment of two years or with a fine of ₹2 lakh or both even in the first instance. If State governments are reluctant to prosecute offenders, they are also slow to adopt newer technologies such as Faecal Sludge Treatment Plants (FSTP), which can be combined with omniprocessors for safe treatment of waste. For the task of cleaning the tanks, indigenous innovation in robotics looks promising. A prototype is planned to be tested by the Indian Institute of Technology Madras and such devices can potentially transform sanitation in India and other developing countries. But the pace of adoption will depend on the priority that governments accord to the long-neglected problem. Last year, Tamil Nadu, and some other States, notably Andhra Pradesh and Odisha, announced plans to scale up FSTP infrastructure. This is a task that deserves the highest importance, and needs to be completed on deadline. What happened in Sriperumbudur highlights the heavy price that communities pay for the lack of scientific sanitation. If governments remain apathetic, citizens would expect the courts to step in to uphold the law against manual scavenging and make individual departments accountable. The science on sanitation has advanced, and policy must urgently catch up.
Meaning : the extreme edge of land before a steep slope or a body or water.
Tamil Meaning : விளிம்பில்
Synonyms : fringe
Antonyms : middle
Example : “the brink of the cliffs”
Meaning : put at risk of being harmed, injured, or destroyed(v).
Synonyms : compromise
Antonyms : assist
Example : “they advised against tax increases for fear of imperilling the recovery”
Meaning : poke with a finger, foot, or pointed object(v).
Synonyms : nudge
Antonyms : dissuade
Example : “he prodded her in the ribs”
Meaning : save (someone) from a dangerous or difficult situation(v).
Synonyms : recovery
Antonyms : failure
Example : “firemen rescued a man trapped in the river”
Meaning : an animal that feeds on carrion, dead plant material, or refuse.
Tamil Meaning : துப்புறவு
Synonyms : scrounge
Example : “carcasses are usually quickly disposed of by scavengers”
Meaning : retake possession of (something) when a buyer defaults on payments.
Synonyms : retake
Example : “565 homes were repossessed for non-payment of mortgages”
Meaning : make (a bill or other proposal) law.
Tamil Meaning : இயற்றப்பட்டது
Synonyms : execute
Antonyms : hinder
Example : “legislation was enacted to attract international companies”
Meaning : another way of saying play truant below.
Tamil Meaning : சோம்பேறி
Synonyms : hooky
Example : “if my daughter had been truanting from school I would have been informed”
Meaning : something resembling a tentacle in shape or flexibility.
Tamil Meaning : விழுது
Synonyms : limb
Example : “trailing tentacles of vapour”
Meaning : a person who has escaped from captivity or is in hiding(n).
Tamil Meaning : தப்பியோடிய
Synonyms : elusive
Antonyms : lasting
Example : “fugitives from justice”
Meaning : contemptuous treatment or behaviour; outrage.
Synonyms : against
Example : “the despite done by him to the holy relics”
Meaning : having an obstinately uncooperative attitude towards authority or discipline.
Synonyms : obstinate
Antonyms : compliant
Example : “a class of recalcitrant fifteen-year-olds”
Meaning : (of rubber, food, etc.) lose its normal qualities; rot or decay.
Synonyms : crumble
Antonyms : appear
Example : “an abandoned tyre whose rubber had perished”
Meaning : increasing or increased in quantity, degree, or force by successive additions.
Tamil Meaning : ஒட்டுமொத்த
Synonyms : aggregate
Antonyms : decreasing
Example : “the cumulative effect of two years of drought”
Meaning : resort to legal action to settle a matter; be involved in a lawsuit.
Synonyms : prosecute
Antonyms : agree
Example : “the plaintiff is prepared to litigate”
Meaning : institute or conduct legal proceedings against (a person or organization).
Tamil Meaning : சட்டரீதியாக
Synonyms : reclaimed
Antonyms : arraign
Example : “they were prosecuted for obstructing the highway”
Meaning : unwilling and hesitant; disinclined.
Tamil Meaning : தயக்கம்
Synonyms : averse
Antonyms : careless
Example : “today, many ordinary people are still reluctant to talk about politics”
Meaning : the action or process of innovating.
Tamil Meaning : கண்டுபிடிப்பு
Synonyms : contraption
Antonyms : stagnation
Example : “innovation is crucial to the continuing success of any organization”
Meaning : originating or occurring naturally in a particular place; native.
Tamil Meaning : உள்நாட்டு
Synonyms : endemic
Antonyms : alien
Example : “the indigenous peoples of Siberia”
Meaning : conditions relating to public health, especially the provision of clean drinking water and adequate sewage disposal.
Tamil Meaning : துப்புரவு
Synonyms : hygiene
Antonyms : dirtiness
Example : “they could afford to erect new dwellings with a reasonable standard of construction and sanitation”
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