Current Affairs 03/09/2015

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Attempts to make Hindi as one of the official languages of the UN

GS 1: Regionalism

India is seeking the support of at least 129 member-nations to get official language status for Hindi in the United Nations.
Karunanidi is against making Hindi as one of the official languages of the UN.
His argument
‘It will destroy India’s plurality and unity in diversity’.
Government is trying to impose Hindi on on-Hindi speaking States.

GS 3: Reforms

GOI approved a new policy for the auction of 69 small and marginal oilfields to private and foreign companies
The move could unlock hydrocarbon reserves estimated at around Rs. 70,000 crore.
The winning bidders — who will be given a licence for 20 years — have been set strict targets by which they have to start production.

Sharing revenue instead of profits OR Paradigm shift from a cost-recovery model to revenue sharing [The earlier profit-sharing mechanism meant that the government had to scrutinise the various costs incurred by the private companies, which often led to delays and disputes.]
Improvement in ‘ease of doing business’.
Companies operating these new fields will be able to sell gas to any customer of their choice and not be bound by the government’s allocation policy.
Unified licences for all hydrocarbons in the field instead of a licence for each OR Companies will be able to exploit any and all hydrocarbons (oil, gas, shale oil, shale gas and so on) found in the field, unlike the current system which requires a separate licence for each.

Minimum government leads to minimum ‘Red Tapism’.
No manipultation by corporate lobby: Previously some crony companies (This happened with Reliance when MounMohan was PM) Manipulted the Costs Incurred and with the help of Corrupt Netas and Babus made huge profits at the cost of government exchequer.
http://www.thehindu.com/todays-paper/tp-national/law-reforms-feasible-through-executive-action/article7609261.ece

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