Pm Modi Current Affairs - 2020

Tony Abott: Upbeat on possibility of Civil Nuclear Deal with India

Australian Prime Miniter Tony Abott has expressed the willingness of his government to sign a Nuclear Deal with India in his ongoing trip. Australia has been making sincere efforts since 2012 after Labor party reversed its decision to ban the sale of uranium to India because of New Delhi not being a signatory to the Nuclear Non-Proliferation Treaty.
Mr.Abott while addressing the Australian Parliament had stated that Australia was ready for Uranium sales to India as the latter had proved to the world of its commitment to strong and flourishing democracy with a proper rule of law.
Australia will take suitable safeguards keeping in view its own international standing and commitments before breaking the deal. The Deal if brokered and materialized will give a big Philip to the energy sector of our economy and will help India meets its energy needs. Australia houses a third of the world’s recoverable uranium resources which make it an important country in terms of nuclear power.
“The purpose of this trip, as far as I am concerned, is to acknowledge the importance of India in the wider world, acknowledge the importance of India to Australia’s future, to let the government and the people of India know what Australia has to offer India and the wider world for our part, and to build on those stronger foundations,” he said addressing a 30-member business delegation accompanying him on the trip at Hotel Taj Palace in Mumbai on Thursday, his first port of call.
India will also gain in terms of its standing in the world as it get another endorsement for its commitment for use of nuclear fuel only for peaceful civilian purposes. This will further reiterate its position of a strong and responsible nuclear power in the world.

Coal Supplies to reach Critical Levels

The Modi government has completed a successful first 100 days. The success rests on the widely catching and an instant hit- Pradhan Mantri Jan Dhan Yojana, which will take banking to grassroots level. The step saw a tremendous response from the masses across the country. Also, the relative easing of fuel prices brought a big smile on many Indians who had not seen any respite on this front during both the tenures of UPA government. Another feather which blossomed in NDA’s cap is the new upwards revision in the GDP which showed a remarkable 5.7%, the highest which the country saw in the last many months.
The government which came to power with a massive majority has been facing equally tough challenges both on the home and international fronts. The recent problem of a possibility of a massive blackout due to lack of coal supplies to more than half of the power stations in India, has an unprecedented dimension to be tackled. India which about 62 billion tonnes of coal reserves which is optimally used can easily manage the capacity of power plants. The issue at stake is not the reserves but a price mismatch between the regulated price at which the coal is sold to these plants and the cost of production.
The power generators are caught in heavy debt as they have been increasing demand of coal without the capacity to purchase even the existing supply. This if not checked in time may lead to a major blackout across the nation. 56 power plants out of 100 which handle three-fifths of the country’s power supply will be dysfunctional within a week as they have less than a week’s reserves.
This could act as a dark cloud on the growth model which Modi had shown to his Japanese counterpart and the Japanese investors on his first visit to the island nation early this week. Modi had overcome similar situation in Gujarat when he was the CM and his efforts had made the state as a power surplus state. The same model will have issues if it had to be replicated on a national level, merely because the responsibility of power is shared between the Centre and the states. Also, the scale of the problem is huge as the industry has mounted up bank debts of 5 trillion rupees ($84 billion), according to central bank figures.