GS Paper I- Indian Heritage and Culture.
World Telugu Conference Begins In Hyderabad.
- The World Telugu Conference began at Lal Bahadur Stadium in Hyderabad on 15th December evening.
- Vice President of India M. Venkaiah Naidu inaugurated the conference in the presence of Governor of Telangana and AP E.S.L. Narasimhan and Maharashtra Governor Ch. Vidyasagar Rao, Chief Minister K. Chandrashekhar Rao and other dignitaries.
- Addressing the conference, Venkaiah Naidu stressed on the need for protection and preservation of Telugu language and culture. He said one should not lose the touch with our base and therefore, it was the duty of all parents and teachers to teach Telugu language to their wards.
Highlights Of The Development–
- Speaking on the occasion, KCR informed that about 400 delegates from 42 countries were participating in the conference. Further, he said the conference is also being attended by Telugu speaking delegates from 17 States and a Union Territory across India. Stating that Telugu was a rich and cultural language, he hoped that the deliberations, to be held during the five-day conference, would help in promotion and growth of Telugu language.
- Maharashtra Governor Vidya Sagar Rao said that Telugu was a universal language. He said in India, Telugu is the most spoken language after Hindi.
- Governor Narasimhan lauded the Chief Minister for successful conduct of the conference. He said that Telugu language connects people with their soul.
- Interestingly, for the first time even, MIM president Asaduddin Owaisi delivered his speech in Telugu language. He said Telangana State presents a perfect picture of communal harmony and peace.
Sources- The Hans India.
GS Paper II- Polity.
SC Extends Aadhaar Linking Deadline To March 31, But Spells No Relief For Aadhaar Holders Opening New Bank Accounts.
- An existing Aadhaar holder will have to furnish his Aadhaar card to open a new bank account, a five-judge Constitution Bench of the Supreme Court, led by Chief Justice Dipak Misra, ordered on 15th December, 2017.
- The Bench extended the deadline for Aadhaar linkage to March 31, 2018 only for non-Aadhaar holders opening new bank accounts. Meanwhile, they can open new bank accounts, provided they furnish proof to the bank of having applied for an Aadhaar card. Proof is in the form of their Aadhaar application form or number.
- The Bench scheduled the final hearing on 28 separate writ petitions challenging the very validity of the Aadhaar scheme for January 17, 2018.
Highlights Of The Development-
- Reading out the order for the Bench, Justice Chandrachud said the issue of Aadhaar’s validity is of “considerable importance” and requires resolution and clarity at the earliest for the benefit of both the citizenry and the government.
- Justice Chandrachud pointed out the fact that a nine-judge Constitution Bench on August 24, 2017 recognised and upheld privacy as a fundamental right and intertwined it with basic human dignity and right to life.
- This verdict had made it all the more important that the quesion whether Aadhaar was constitutional or not should be resolved by the five-judge Bench at the earliest, he said.
- The petitioners challenging Aadhaar argue that the scheme, which requires the parting of biometric and personal details, is a coercive step and a stark violation of the ordinary citizen’s fundamental right to privacy. The danger to privacy, they reason, is all the more great because India does not have a data protection regime to prevent or punish personal data leakage.
- The Constitution Bench extended the deadline for mobile phone-Aadhaar linkage from February 6, 2018 to March 31, 2018. Aadhaar was a mandatory requirement for e-KYC procedure in mobile phone connections, existing and new.
- The court also extended the deadline for Aadhaar linking to avail 139 services and subsidies under Section 7 of the Aadhaar Act to March 31, 2018. It directed that the deadline extension should be communicated to the State governments so that people at the ground level are not denied basic welfare and subsidies for want of an Aadhaar card.
Sources- The Hindu.
GS Paper III- Economic Development.
Maruti Suzuki Passes SBI As Sixth Most Valuable Indian Company.
- Shares of India’s largest car maker Maruti Suzuki India Ltd jumped 2.11% to an all-time high of Rs9,072 apiece on 8th December, 2017, making the Delhi-based automaker the sixth most valued firm on the BSE, ahead of State Bank of India (SBI).
- The list of the most valued companies on the BSE is led by Reliance Industries Ltd, followed by Tata Consultancy Ltd (TCS), HDFC Bank Ltd, ITC Ltd and Hindustan Unilever Ltd.
- Maruti Suzuki’s market capitalization on 8th Dec stood at Rs2.74 trillion, marginally ahead of SBI’s Rs2.71 trillion. In terms of valuation, the Indian unit of Japanese automaker Suzuki Motor Corp. is ahead of companies such as Housing Development Finance Corp. Ltd (HDFC), Oil and Natural Gas Corp. Ltd (ONGC) and Infosys Ltd.
Highlights Of The Development-
- The reason for this appreciation in share price can be attributed to the continuous increase in the company’s market share in the passenger vehicle segment.
- Maruti Suzuki has guided for a volume growth of 10-12% in FY18 and 12-14% in FY19. Hence, most of the brokerages have a bullish view on the stock.
- Maruti Suzuki is riding a wave of an extremely successful product cycle that has seen the introduction of models such as the Baleno hatchback, Vitara Brezza SUV and the new Dzire sedan. Since July 2012, the company has gained more than 12 percentage points in market share to control more than 50% of the Indian car market, where more than 3 million cars are sold every year.
- Given the improvement in market share, rising rural contribution, reduced Japanese Yen exposure, improving share of premium products, healthy ROE/ROCE (26% in FY19/20E) and improving free cash flows, MSIL will continue to trade at a premium.
- Over the last year, all the manufacturers in the passenger vehicles market have struggled to generate volumes due to the adverse impact of demonetisation and the introduction of the goods and services tax (GST).
- Maruti Suzuki’s wholesale volumes touched an all-time high of 1.5 lakh units in July, 2017. Between April and September, the company’s revenue grew by 10.91% to Rs40,402.2 crore from the same period last year, while its net profit rose 3.8% to Rs4,040.7 crore.