Important Current Affairs for CLAT-8th October 2022

GoI named Delhi HC Judge Justice Dinesh Kumar Sharma as Presiding Officer Of UAPA Tribunal

The government of India has appointed Justice Dinesh Kumar Sharma of the Delhi High Court as the presiding officer of the tribunal for the Unlawful Activities Prevention Act (UAPA), related to the ban on the Popular Front of India (PFI) and its associates. Once an organisation is banned under the provisions of UAPA, a tribunal is set up by the government to adjudicate whether there are sufficient grounds for the decision.

The office memorandum, issued by the Department of Justice in the Law Ministry on October 3, mentioned that Justice Sharma’s time as head of the UAPA tribunal will count as “actual service”. Chief Justice S.C. Sharma of the Delhi High Court appointed Justice Sharma to head the tribunal that will examine the ban.

Key points:

  • According to procedure, the Union Home Ministry requests the Law Ministry to name a sitting judge of a High Court to be the presiding officer, and the Law Ministry, in turn, requests the Chief Justice of the concerned High Court to recommend a name. The Home Ministry will now issue a formal notification naming Justice Sharma as presiding officer.

  • On September 28, the Ministry of Home Affairs had issued a notification declaring “the PFI and its associates or affiliates or fronts as an unlawful association with immediate effect”.

  • The National Investigation Agency as well as the Enforcement Directorate had alleged that PFI was engaged in raising and collecting funds from abroad and transferring them to India through “clandestine and illegal channels”.

Mohit Bhatia named CEO of Bank of India Mutual Funds

Mohit Bhatia- New CEO of Bank of India Mutual Funds: The appointment of Mohit Bhatia as CEO of Bank of India Investment Managers Private Ltd (Bank of India Mutual Funds) has been made public. In the fields of sales and distribution, team development, marketing & branding, and the creation of digital eco-systems, Bhatia has more than 26 years of professional expertise.

Mohit Bhatia- New CEO of Bank of India Mutual Funds: Key Points

  • Mohit Bhatia ‘s most recent position was head of sales and marketing at Canara Robeco Asset Management Company Ltd.

  • The Bank of India Mutual Funds firm achieved 50,000 crores in assets under management (AUM) during his leadership.

  • Bank of India’s wholly-owned subsidiary, Bank of India Investment Managers Private Ltd (Bank of India Mutual Funds)

  • For the quarter of July through September, Bank of India Mutual Funds had an average AUM of $3,054.36 according to industry estimates.

About Mohit Bhatia:

  • Mohit Bhatia graduated from Management Development Institute with a BE in mechanical engineering and an MBA (Gurgaon).

  • Prior positions held by Mohit Bhatia include those as head of retail advisory services at Franklin Templeton AMC, zonal head of wealth at Axis Bank for North India, head of North India for DSP Merrill Lynch Investment Managers, later head of banking channel for all of India, and head of retail advisory services at Alliance Capital AMC.

56 Million Indians may have turned Poor in 2020 due to pandemic: World Bank

About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million and making it the worst year for poverty reduction since World War II, according to fresh estimates by the World Bank.

What The World Bank Said:

“The global goal of ending extreme poverty by 2030 is likely to be missed: By then, about 600 million people will remain in abject poverty. A major course correction is needed,” Indermit Gill, chief economist at the World Bank, tweeted. The World Bank in its latest “Poverty and Shared Prosperity” made fresh estimates of poverty using a new extreme poverty line based on the purchasing power parity (PPP) of $2.15, the earlier one being at $1.9.

For almost 25 years, the number of people living in extreme poverty — on less than $2.15 per person per day — was steadily declining. But the trend was interrupted in 2020, when poverty rose due to the disruption caused by the COVID-19 crisis combined with the effects of conflict and climate change — which had already been slowing poverty reduction.

Data On Poverty:

The multilateral lending institution used data from the Consumer Pyramids Household Survey (CPHS), conducted by the Centre for Monitoring Indian Economy (CMIE), to estimate poverty for India in the absence of Household Consumer Expenditure Survey data from the government since 2011-12. The report, however, contended that poverty had declined in India since 2011, driven by a larger poverty reduction in rural areas.

“Even though overall poverty has declined, it is by less than what earlier estimates used for global poverty measurement would suggest. Previous estimates suggested a poverty headcount rate at the $1.90 poverty line of 10.4 per cent in 2017. The latest estimate shows that poverty at the $1.90 poverty line was 13.6 per cent in 2017,” the report said. At the new poverty line of $2.15, extreme poverty in India declined to 10.01 per cent in 2019 from 11.09 per cent in 2018 before the pandemic came. For 2020, the World Bank said it was yet to estimate the poverty rate.

What The Economists Said:

N C Saxena, who was member of the erstwhile Planning Commission, said the World Bank underestimated poverty in India by measuring it at the purchasing power parity value of the dollar, which is around Rs20 only. “Many estimates by independent economists have suggested that 275-300 million people fell into extreme poverty during the pandemic. Even the NITI Aayog’s own multidimensional poverty index identifies 25 per cent people as poor,” he added.

The latest estimates do not take into account the impact of the Russia-Ukraine war. “The war in Ukraine and higher food and energy prices have made matters worse. A total of 685 million people could be living in extreme poverty by the end of this year—nearly 90 million more than would have been the case if the pre-COVID pace of poverty reduction had continued,” the report said.

Food inflation can have a particularly devastating impact on poor families. A typical person in a low-income country spends about two-thirds of their resources on food, while the same figure for the typical person in a high-income country is closer to 25%.

The Curable Decisions:

The World Bank said the pandemic’s impact on poverty in 2020 would have been worse without the fiscal responses of countries in the form of cash-transfer programmes, wage subsidies, unemployment benefits, etc.

India launched a free food grains programme under the Pradhan Mantri Garib Kalyan Yojana to provide food security to the poor. Suggesting fiscal policy measures to repair the damage, the World Bank said programmes like targeted cash transfers were far more likely to reach poor and vulnerable groups. “More than 60 per cent of spending on cash transfers goes to the bottom 40 per cent. There is growing evidence that they offer beneficial impacts in the long run, allowing families, for example, make crucial investments such as in the education of children,” it added.

Indian Air Force celebrates its raising day on 8th October

Indian Air Force Day 2022

Indian Air Force was raised on October 8, 1932, and it is completing 90 years today. The day and its observance is a matter of pride for Indians and inspire a patriotic zeal among the citizenry for the air arm of the Indian Armed Forces. The President of India is the Commander-in-chief of the IAF. This time Air Force Day flypast is scheduled to take place over Sukhna Lake in Chandigarh this afternoon.

Indian Air Force Day 2022: Celebrations

In a historic first, the parade and fly-past of Air Force day have been moved out of the national capital region by the Indian Air Force. President Draupadi Murmu and Defence Minister Rajnath Singh will be present on this occasion. Indian Air Force was officially established on 8 October 1932 by the British Empire as the Royal Indian Air Force. The name was changed to Indian Air Force in 1950. This time 75 aircrafts will participate in the flypast, while 9 aircrafts will be kept on standby mode. The light combat helicopter LCH which were recently inducted in the IAF will also showcase its air capabilities in the sky at Sukhna lake. Tejas, Sukhoi, MIG -29, Jaguar, Rafale, and Hawk will also be part of fly past.

Indian Air Force Day 2022: Significance

The Indian Air Force Day celebration is a display of strength, bravery and courage of India’s fighter pilots who risk their lives to defend the nation. It is also a display of India’s military might to the world, particularly to its neighbouring countries.


Why Indian Air Force Day is celebrated on 8th October?

The IAF was founded on October 8, 1932, and the force has participated in several crucial wars and landmark missions. It was officially established as an auxiliary air force of the British Empire which honoured India’s aviation service during World War II with the prefix Royal. After India gained independence from the United Kingdom in 1947, the name Royal Indian Air Force was kept and served in the name of Dominion of India. With the government’s transition to a Republic in 1950, the prefix Royal was removed. The IAF also played important roles during the Congo Crisis (1960-1966) and the Annexation of Goa (1961), the Second Kashmir War (1965), the Bangladesh Liberation War (1971), the Kargil War (1999), and the Balakot airstrike and the India-Pakistan standoff of 2019.

What Is The Gig Economy And The Issue Of Moonlighting

Moonlighting or employees working for remuneration with entities other than their employers has been a hot topic in recent months. During the pandemic, those with desk jobs had more time on their hands and thus it was easier to take on a few projects outside of work. In July, Kotak Securities said in a study that at least 60% of 400 employees surveyed said they themselves had, or knew someone who had engaged in moonlighting.

Companies reaction to Moonlighting:

In August, Wipro chairman Rishad Premji tweeted: “There is a lot of chatter about people moonlighting in the tech industry. This is cheating — plain and simple.” The company sacked 300 employees following the discovery that they were working for rival firms on the side, leading to conflict of interest. Infosys has warned staff against moonlighting, saying it could lead to termination. Another software firm DXC Technologies said that moonlighting by employees was a challenge for employers but that wouldn’t affect its WFH (work from home) policy that has worked well for both the firm and its staff. Swiggy announced a ‘moonlighting policy’ that allows employees “to pursue their passion for economic interests alongside their full-time employment.”

What does the law say:

Moonlighting is not defined in any of the statutes in India, says S. Ravindran, Senior Advocate who specialises in labour laws. “To my knowledge so far, no Constitutional Court has rendered a decision on the subject,” he says. However, there are enactments that deal with double employment. Section 60 of the Factories Act deals with restriction on double employment stating that “No adult worker shall be required or allowed to work in any factory on any day on which he has already been working in any other factory, save in such circumstances as may be prescribed”. However, this enactment is applicable only to employees working in factories, Mr. Ravindran points out.

The Gig Economy And Its Repercussions:

Gig employees are the ubiquitous new workforce. They are the ones that get us the meals we ordered online, transport us from home to office or wherever, and generally render a host of services that go unnoticed. While their tribe is growing by leaps and bounds, many of the challenges they have been facing remain unaddressed. Business Standard takes a look at the size of the so-called gig economy and where it is headed, along with the problems it faces and the likely solutions to these problems.

The Size And The Distribution Of Gig Employment:

23.5 million: The expected size of the gig workforce by 2029-30. That’s 6.7% of the non-farm workforce.

7.7 million: Estimated gig economy workforce in 2020-21. That’s 2.6% of the non-farm workforce in India.

Industrial distribution:

2.7 million gig workers in retail trade and sale, 1.3 million in transportation sector

– 600,000 in manufacturing, another 600,000 in finance and insurance

The Challenges Gig Workers Face:

Lack of job security, irregular wages, and uncertain employment status

– Rising stress due to uncertainty associated with regularity in available work and income

– Limited access to internet and digital technology

Contractual relationship between the platform owner and gig worker denying the latter access to many workplace entitlements.

Stress due to pressure from algorithmic management practices and performance evaluation on the basis of ratings.

India’s first Green Technology incubation facility opened at NIT Srinagar

India’s first Green Technology incubation facility: At the National Institute of Technology (NIT) Srinagar, a technology company incubator centred on green technology (Green Technology incubation facility) called the “Greenovator Incubation Foundation” will soon open. The Department of Science and Technology (DST) is supporting a three-year initiative known as Inclusive TBI (i-TBI) for educational institutions, idea generators, innovators, and entrepreneurs to support innovative ideas, startup initiatives, and promote self-employment and job creation through incubation.