Current Affairs 16 September 2020 – IAS Current Affairs

Current Affairs 16 September 2020 focuses on Prelims-Mains perspective. Major events are :

1. The Essential Commodities (Amendment) Bill, 2020
2. Abraham Accord Israel-UAE and Bahrain

The Essential Commodities (Amendment) Bill, 2020

Why in News ?

Lok Sabha on Tuesday passed the Essential Commodities (Amendment) Bill, 2020 which seeks to deregulate food items, including cereals, pulses and onion, a move aimed at transforming the farm sector and raising farmers’ income.

What The Essential Commodities (Amendment) Bill, 2020 says ?

• This Bill replaces the Essential Commodities (Amendment) Ordinance, 2020.
• Allows the central government to regulate the supply of certain food items only under extraordinary circumstances.
• Stock limits may be imposed on agricultural produce only if there is a steep price rise.
• Food items Regulation :
  • The central government may regulate or prohibit the production, supply, distribution, trade, and commerce of such essential commodities.
  • Food items including cereals, pulses, potatoes, onions, edible oilseeds, and oils, only under extraordinary circumstances.
  • The extra ordinary situation mentioned as 
    • War
    • Famine
    • Extraordinary price rise
    • Natural calamity of grave nature.
• Stock limit :
  • Imposition of any stock limit on agricultural produce must be based on price rise.
  • The limit is imposed only if
    • 100% increase in retail price of horticultural produce.
    • 100% increase in the retail price of non-perishable agricultural food items.
  • Price fixing : Calculated over the price prevailing immediately preceding twelve months or the average retail price of the last five years, whichever is lower.

Source : Economic Times

Topic

GS II : Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

GS III : Issues related to direct and indirect farm subsidies and minimum support prices; Public Distribution System- objectives, functioning, limitations, revamping; issues of buffer stocks and food security; Technology missions; economics of animal-rearing

Abraham Accord Israel-UAE and Bahrain

Why in News ?

Washington: US, Israeli and foreign ministers of the United Arab Emirates and Bahrain for the signing of the historic Abraham Accord, which is the first Arab-Israeli peace deal in 26 years.

What is Abraham Accord ?

• Israel–United Arab Emirates normalization agreement officially the Abraham Accords Peace Agreement
  • Treaty of Peace, Diplomatic Relations
  • Full Normalization Between the United Arab Emirates and the State of Israel
• The treaty
  • Recognises each state’s sovereignty,
  • Also obliges the two states to exchange ambassadors
  • Conclude bilateral agreements on several topics including visa agreements.

US, Israeli and foreign ministers of the United Arab Emirates and Bahrain

• Israel and two Arab Gulf states, the United Arab Emirates and Bahrain, have formally and publicly established diplomatic relations.
• U.A.E. and Bahrain are the third and fourth Arab countries to open diplomatic relations with Israel.
• Egypt and Jordan were the first two.

Impact of the Accord

• Threat of Iran
  • The on going coalition against Republic of Iran will get a boost and normalisation of relations strengthens this coalition
    • Iran and its various terrorist appendages as threats to their stability and territorial integrity, and even to their existence.
• Palestine Issue and Territorial Dispute
  • Arab world would very much like to be partners with Israel in high-tech development and in the fight against Iran.
  • Gulf states really despise the Palestinians as they consider Iran as a threat to the region.
    • Israelis did promise the U.A.E. that they wouldn’t formally annex any West Bank land, for the time being at least.

India and Abraham Accord

India have already a number of bilateral treaty with these nations :

• India will benefit greatly by expanding its cooperation in many areas including health care, energy, agriculture, technology, water and more.
• Economic opportunities in the region arise they will also expand beyond the immediate region to benefit India.
• Peace deal benefits the Indian diaspora in the region across the GCC.
• Security too is a key area and India will be looking to play an important role in the newly established ties between these countries. 
• Also this will help in countering terrorism, money laundering, cyber security, organised crime, human trafficking and anti-piracy.

Source : The Hindu

Topic

GS II : Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora

Current Affairs 16 September 2020 : Our major Sources for the Current Affairs are The Hindu, Indian Express, PIB. For more queries and mentor-ship please contact us.