GS 2
Category: international relations
- G4 seeks time-bound reform of Security Council
The issue in news
Foreign Ministers from the Group of 4 — India, Brazil, Japan and Germany — a group that is seeking permanent membership of the UN Security Council (UNSC), met virtually to further their objective.
Main points
The Ministers reaffirmed their common resolve to take decisive steps towards comprehensive reform of the Security Council that was envisaged by Heads of State and Government in the 2005 World Summit.
The four countries stressed delivering concrete outcomes, in writing and within a time frame.
Details:
G4 on UNSC Reforms:
- Ensuring greater representation for Africa
- Enhanced role of developing countries and of major contributors to the UN
- Text-Based Negotiations: to start text-based negotiations (TBN), The G4 will work with other reform-minded countries
- Concerns over IGN: due to Covid-19, Two sessions in February and March 2020 of Inter- Governmental Negotiations (IGN) on UNSC reform were adjourned,
- The concerned countries expressed that IGN lacks the necessary openness and transparency and is restrained by flawed working methods. IGN should also have included a reflection of the Common African Position as enshrined in the Ezulwini Consensus and the Sirte Declaration.
India’s Position:
- As India is seeking reforms to democratize the UN, such as UNSC reforms and UN peacekeeping reforms. India, will commence a two-year non-permanent term on the UNSC in January, 2021
- India has sought a permanent seat at the Council. China is opposed to this.
Category: polity
- Eight Bills passed on last day of Rajya Sabha
The issue in news
The Rajya Sabha was adjourned sine die, clocking a productivity rate of over 100%, despite it being one of the shortest monsoon sessions with only 10 sittings held.
Main points
The House, on the last day of the monsoon session, passed eight Bills.
During the day, the House passed the following legislations:
- The Foreign Contribution Regulation (Amendment) Bill, 2020.
- J&K Official Languages Bill, 2020: The bill has included Kashmiri, Dogri and Hindi in the list of official languages of J&K in addition to Urdu and English. The Bill has been passed by both Houses.
- The Bilateral Netting of Qualified Financial Contracts Bill, 2020. Bilateral netting refers to offsetting claims arising from dealings between two parties to determine the net amount payable or receivable from one party to the other.
- Under the bill, a qualified financial contract (QFC) is a bilateral contract notified as a QFC by a relevant authority such as the Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority or International Financial Services Centres Authority.
- These authorities may designate entities, such as non-banking financial companies or insurance or pension firms functioning under its jurisdiction, as qualified financial market participants to deal in QFCs.
- The bill allows for the enforcement of netting for qualified financial contracts.
- The Occupational Safety Health and Working Conditions Code, 2020
- The Industrial Relations Code, 2020
- The Code on Social Security, 2020
- The Appropriation (No.3) Bill, 2020
- The Appropriation (No.4) Bill, 2020
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