 Welcome to the Hindu News Analysis by Shankar IAS Academy. Displayed at the list of news articles taken up for today's analysis, along with the page numbers of Chennai, Bengaluru, Delhi, and Thiruvananthapuram editions. The handwritten notes in PDF format and the time stamping of all the news articles taken up for today's analysis will be available in the description section. It will also be available in the common section for the benefit of the smartphone users. Let us now start our analysis. First, let us see an editorial. This editorial is about the ideas given by the author for India to become a $5 trillion economy. Now, the analysis of this editorial will be relevant in your problems preparation under economic development, since we shall be seeing a lot of economy-related concepts now. And then you can use many of the statistics given by the author in your main's answers for questions related to achieving higher growth in India. So the analysis of this editorial will be relevant in your main's preparation, in your general studies paper 3 under Indian economy and issues relating to planning, mobilization of resources, growth, development, and employment. Now, the author has given some suggestions for India to achieve the target of becoming a $5 trillion economy by the year 2024, as said by the prime minister. Now, throughout the editorial, the author has compared a lot of growth and development related economic indicators. So let us see them now. If you consider the exchange rate of one US dollar as a 70 rupees, this $5 trillion will be 350 lakh crore of GDP at current prices in Indian currency value. Now, GDP means the total value of all goods and services that is produced in India. And current prices means the market value, nothing but the actual price at which it is sold in a market. If you see India's provisional GDP in the year 2018-19 at current prices is rupees 190.1 lakh crore, or you can tell it as 2.7 trillion dollars. So the annual per capita income, nothing but the average income earned per person in our country is rupees 142719, or we can tell it's about 11,900 per month. Now, to achieve this $5 trillion target, we have to have an output expansion that is to increase the production by 84 percentage in the next five years, or at 13 percentage compound annual growth rate. Here the compound annual growth rate means the rate of return that would be required for an investment to grow from its beginning balance to its ending balance. So here the beginning balance is the 2.8 trillion dollars and our target or the ending balance is $5 trillion. Then the author tells that we must also take inflation or the price rise into account. As per Reserve Bank of India's inflation target of 4% for India, the required growth rate in real terms, that is the real growth rate or the inflation adjusted growth rate is 9 percentage per year. The author tells that India's GDP officially grew at 7.1 percentage per year over the last five years. So for the last five years, our GDP growth rate is 7.1 percentage, but the annual growth rate has never touched 9 percentage. So the author is questioning if this target is ambitious and if it is possible to implement or not. To understand this, the author has compared India's GDP growth with certain Asian countries like China and South Korea. If you see China has recorded a huge growth record for the five years at 11.7 percentage between the years 2003 and 2007. And if you see South Korea has grown 11 percentage between the years 1983 and 1987. So we can see that both the Asian countries were able to achieve 11% growth approximately. So the author tells that this 9% growth target is achievable. Next, the author asks what is actually required for India to grow at 9 percentage? The author asserts or confidently tells that no country grew at such a pace that is at 9 percentage without mobilizing domestic savings and by raising fixed investment rates. So domestic savings is a must and also the fixed investment rates should be raised. So let us see about both these now. The author tells that in the last five years on an average the domestic savings rate was 30.8 percentage of gross national domestic income or in short GNDI and the investment rate gross capital formation to GDP ratio was 32.5 percentage. So let us see what is this gross national domestic income. It means the sum of all income earned while producing goods and services within India. Now the difference between this GNDI and GDP is that GNDI measures the economic activity based on the income which is earned on production. Whereas GDP measures the economic activity of the production only, so income versus production. So out of the total income earned in India the domestic savings rate that is the money saved or the money that is left after the consumption expenditure is just 30.8 percentage. Next coming to the investment rate it is measured in terms of gross capital formation to GDP ratio. Now here the term capital formation simply means the investments that is made into a country. Now the gross capital formation to GDP ratio or the total investments to GDP ratio is 32.5 percentage. Then we saw the author telling that India needs to grow at a rate of 9 percentage in the next five years in order to become a $5 trillion economy. Now we assume certain calculations remain constant and tells that a 9 percent annual growth rate means India needs to have a 39 percentage of domestic savings rate and 41.2 percentage of investment rates. So our point of focus here is the domestic savings rate and the investment rates. So India needs to have 39 percentage of domestic savings rate and 41.2 percentage of investment rates in order to achieve a 9 percent annual growth rate. Along with this the author tells that the shares of private consumption need to shrink or reduce to about 50 percentage of GDP from the current level of 59 percentage of GDP at current prices when assuming that the foreign capital inflow remains at 1.7 percentage of GDP. Here the term private consumption is nothing but the consumption expenditure made by the consumers towards goods and services. It is simply nothing but the purchases which every citizen do in a country like they spend for food, they spend for housing and for all their needs. Generally in economic terms if this consumption expenditure is high then it means that the country's poor since it is not concentrating on savings and just spending whatever money they have. So whatever is being earned in a particular financial year is being consumed by the country instead of saving it. Now if the savings are high then there are investments in the future. That's why in economy it is generally said that if the country's poor then the private consumption is more in that particular country. So what India actually needs is more investments and here foreign capital inflow. The term foreign capital inflow means the investments from foreign countries that come into or flow into India. Here the author means to tell that India will have to turn into an investment-led economy as it happened during the boom in the last decade that is between the years 2003 and 2008 before the 2008 financial crisis or something like China since the 1980s. Next the author insists that incremental capital to output ratio or ICOR should be at 8 to 9 percentage in order to boost the savings and the investment rate. Now from these terms incremental capital and output you can tell that there is some connection between the capital that is the money and the output. So it is basically the relationship between the level of investment made in the economy and the consequent increase in GDP. If you invest more then you get more outputs but the author has cautioned by quoting on an ongoing GDP debate where we saw that the former chief economic advisor Mr. Arvind Subramanian has said that India is growing at 4.5 percentage. Then if our economy is actually growing at 4.5 percentage than the official targets then the target for India to become a five trillion dollar will become more challenging. Now we have seen that India needs at least 39 percentage of domestic savings rate and 41.2 percentage of investment rates. So domestic savings is a key component to investments but the author has commented that the present government thinks that just by getting more investments from foreign countries that is by having more foreign capital inflows or we can tell it as FDA inflows that India would fill the investment gap. Now the author has quoted Nithya Yogvai's chairman's talks here. Then he has told that in history no country has succeeded in accelerating its growth rate without raising the domestic savings rate to close to 40 percentage of GDP. If you see as proposed 39 percentage of domestic savings rate which is close to this 40 percentage. Now the foreign capital can fill in some important gaps but it is never a substitute for domestic resources that is the domestic savings. He tells that in China the foreign direct investment inflows or the FDA inflows as a proportion of GDP never exceeded 5 to 6 percentage since it was able to rotate its investments with the Hong Kong uncertain areas of interest. Then if you see in India this gross FDA inflow into India peaked in the year 2008-9 at 2.7 percentage of GDP. From then on this value was reduced and in 2017-18 the FDA inflows were 1.5 percentage of GDP. So the author tells that India should not think that FDA will help India to get to the 5 trillion dollar GDP target. Next the author discusses about the present problems at the economy phases. He tells that the economy has slowed down for a while now. The domestic savings rate has declined from 31.4 percentage in the year 2013-14 to 29.6 percentage in the year 2016-17. And if you see the gross capital formation rate has decreased from 33.8 percentage to 30.6 percentage during this same period that is between 2013-14 to 2016-17. Next is the banking sector. Here the banking sector is not able to increase its credit or the money that it gives to the businesses since it is limited by the non-performing assets issue and also the governance crisis within the banking sector. Next if you see the export to GDP ratio that is the total exports of India has declined fastly. Here he has quoted the statement from Baltic Dry Index which tells that a huge global trade war is about to happen. Indirectly tells the US China global trade war which will have global ramifications. Now this Baltic Dry Index is a shipping and trade index which was created by the London based Baltic Exchange. This index measures changes in the cost of transporting various raw materials such as coal and steel. If you see this index is currently trading at 1,354 index points. It is forecasted to decline to less than 1,000 index points by this year-end and if you see before the 2008 global financial crisis it recorded a historic high of 11,793 points that is in May 2008. Now if you need not know all these points given under this Baltic Dry Index just know what is meant by Baltic Dry Index. So we can see from this that the economy is slow from this index. Finally the author insists that only the increase in domestic savings and investments will help India become a vital in dollar economy. Along with this the author suggests that the policy makers have to do a practical and a realistic assessment and not just by blindly believing that the FDI inflows will help India achieve the target. With this we come to the end of the analysis of this editorial. Now have a look at the practice question. Let us move on to the next news article. This news article is about the concerns with respect to the Mekhedar 2 reservoir and drinking water project. The analysis of this news article will be relevant in your prelims preparation under current events of national importance then under a general issues on environmental ecology by diversity. And in your mains this news article will be relevant in your general studies paper 3 under issues relating to development and also in conservation, environmental pollution and degradation and also in environment impact assessment. Now we need to know about this place called Mekhedar 2. It is a place which is located in the state of Karnataka along river Kaveri. Since this location is finalized for a proposed reservoir here this project is called as Mekhedar 2 project. Now this river Kaveri is an interstate river which originates in the state of Karnataka and it drains into Bay of Bengal after passing through the state of Tamil Nadu. Thus it is a major east flowing river. So it originates in the west and flows towards the east. The length of this river is approximately 740 kilometers. Now this Mekhedar 2 project aims to construct a balancing reservoir across the river Kaveri. Now let's see the objectives of this project. One is to utilize additional 4.75 TMC of water from the proposed project to provide drinking water facility to the Bengaluru metropolitan region. Now TMC means 1000 million cubic feet of water. The next objective is to regulate the required quantum of water to Tamil Nadu on a monthly basis as per the award of Kaveri Water Disputes Tribunal. The proposed project aims to follow the award modified by the Supreme Court in February 2018. In February 2018, if you see the Supreme Court has reduced 14.75 TMC from the previous share of 192 TMC for the state of Tamil Nadu. This project also aims to store the floodwaters that may escape into the sea. Then this project also has plans to harness some 400 megawatt of renewable energy in a year. Now with respect to river Kaveri, Karnataka is the upper riparian state and Tamil Nadu is the lower riparian state. Here upper riparian state means the state that is in the upstream part of the river. And lower riparian means the state which is in the downstream part or the lower section of the river. Upper riparian state can control the flow of water to the lower riparian state because it is in the upstream part of the river and the vice versa is not true. That is Tamil Nadu has no control of regulating the flow of Kaveri to the state of Karnataka. This makes any lower riparian state to be at the mercy of the upper riparian state for the needs of river water. Now one of the reasons why the reservoir is called as a balancing reservoir is that it aims to balance or meet the demand for water for the city of Bengaluru by supplying water from this project. The other reason is that it aims to regulate the excess flow that may escape into the sea. This Mekhetatu drinking water project is to be built by Kaveri Niravari Nigam Limited. This Kaveri Niravari Nigam Limited is a company completely owned by the government of Karnataka. This Mekhetatu project is in use because recently a pre-facibility report for this project has been released by the Ministry of Environment, Forests and Climate Change. The pre-facibility study was done by the Chief Engineer of the Kaveri Niravari Nigam Limited and the Chief Engineer of this company has submitted the pre-facibility report before the Central Ministry. Some of the information mentioned in the report pertains to the Kaveri Well Life Sanctuary. Now let us see something about this Kaveri Well Life Sanctuary. This sanctuary was established in the year 1987. Note that there are two well life sanctuaries with the name Kaveri in them. One is Kaveri Well Life Sanctuary. The sanctuary is in the state of Karnataka. The other sanctuary is Kaveri North Well Life Sanctuary. This sanctuary is in the state of Tamil Nadu and this sanctuary was established in the year 2014. According to the pre-facibility report, the total land to be acquired for this project is 52.5 square kilometers. That is 52.5 square kilometers is required for this Mekhetatu project. Of this, around 29.25 square kilometers is to be acquired from the Kaveri Well Life Sanctuary if you see that is of the total land to be acquired almost more than half of the land is to be acquired from the Kaveri Well Life Sanctuary. In addition to this, another 18.69 square kilometers is to be acquired from the forest land. This means around 90 percentage of the land that is to be acquired comes apart of either the forest land or the well life sanctuary. This land from the forest and the sanctuary are for the area of submergence, the area of reservoir that is holding up the water is called as the submergence area. Now the news article expresses concern because if this 29.25 square kilometers of land is acquired from the well life sanctuary, then it will seriously affect the habitat and development of several endemic and endangered species. If you see some of the species which are located in this Kaveri Well Life Sanctuary are Grysalgian squirrel, then Deccan massid fish, then smooth coated otter and then Oriental small clod otter then Indian pangolins, then the mattress tree shrew and then the Colegal ground gecko. So all these animals depend on this Kaveri Well Life Sanctuary for their survival and sustenance. Here just know that Indian pangolin is listed as the endangered animal by the IUCN and both a smooth clod otter and Oriental small clod otter comes under vulnerable category in this IUCN red list. Now the Kaveri Well Life Sanctuary is also an important elephant corridor. The news article in Bengaluru edition states that the Kaveri Well Life Sanctuary is part of the Mysore Elephant Reserve. It is told that already there are a lot of instances of human-animal conflict and many humans have lost their lives as a result of this human-animal conflict. Any further fragmentation of this elephant corridor will escalate the conflict between man and animal. That is it will increase further more conflicts between man and animal. Now the sanctuary also acts as a buffer to absorb surplus tiger populations from Biligiri Rangah Hills and Mahadeshwaramalai Hills. Loss of area of this sanctuary will also lead to conflict between the humans and tigers. Then the Bhimeshwari Fishing Camp and the Gallibur Fishing Camp in Muttati will also be submerged if the project is constructed according to the present proposal. The project will also require the displacement of the Iruliga tribal community and the residence of five villages in the nearby area. Therefore all these things mean that the development of this Mekhetatu project will have a huge environmental cost causing large-scale irreversible damage to the wildlife ecosystem and also displacement of significant number of people. Now if permission for this project is granted then according to the Kaveri Niravari Nigam Limited the entire project could be completed in four months. The state of Tamil Nadu is strongly opposing the project because it thinks if the reservoir is constructed then there will be much regulation in the river flow that will lower the water release required for Tamil Nadu which is a lower riparian state. And then there is also litigation with respect to this project in the Supreme Court. The court will also therefore have a say in this matter. Now have a look at the practice question. Let us move on to the next news article. Now this news article is about the ratification of India for the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shift. The analysis of this news article will be relevant in your problems preparation under current events of national importance and in your mains it could be linked to General Studies paper two under global agreements involving India and or affecting India's interests. The article will also be relevant in your General Studies paper three under Indian economy and issues related to mobilization of resources. India has signed the multilateral convention in the year 2017 but India's ratified the convention only on 25th of June, 2019. Let us see the difference. See signing as international convention means the country accepts the treaty. It comments that it will not take any actions that might weaken the purpose of the treaty. But the treaty or the convention is not legally binding just by a signature. When we say ratification, it denotes the official sanction of the treaty or convention. This makes that convention legally binding on the country. Now this convention is called as multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting. It says to prevent base erosion and profit shifting. Imagine a company carries out certain economic activity in India. It has acquired some profit to the tune of 100 gross. Say that the tax rate for the profit generated in India is 10 percentage and the tax rate in another country is just 2 percentage. Now this company moves its profits from India to another country in order to evade the relatively higher tax in India. Now if companies do this by using the gaps and loopholes in the tax laws and rules of a particular country. Now this concept is called as profit shifting. That is shifting from a country that imposes higher tax to a country that imposes lower tax. Now this shifting of profit of the company erodes the tax base of India which means we will not get the profits. Now this is the meaning of the statement base erosion and profit shifting. The particular company should have paid tax for its profit because it carried out its economic activity in India by availing the services of Indian country. So base erosion and profit shifting has to be prevented. Therefore the organization for economic cooperation and development along with G20 grouping and other interested countries finalized a multilateral convention. And this convention is called as multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting. This convention is shortly called as MLI for BEPS. Now the idea is to ensure that profits are taxed where substantive economic activities are carried out that leads to profit generation. As a result of this ratification now India will have to modify its existing tax treaties with other countries in order to implement the provisions against base erosion and profit shifting. So know that India will have to modify its tax treaties that are currently existing. Now there is a term called as covered tax agreement in this convention. For this the news article uses the term tax treaties. The news article says India has 93 tax treaties but technically they are called as covered tax agreements under this MLI convention. These treaties or covered tax agreements that the article says refers to those double taxation avoidance agreements that are modified according to the MLI of BEPS. Now let's see what is double taxation and why countries have such agreements in order to avoid double taxation. Imagine an Indian company has certain operations in the country of Mongolia. The company will pay tax in Mongolia for the income generated there. What if India has some tax rules that commits the company to pay taxes for the profit earned in Mongolia? This means for a single profit earned in Mongolia by a particular company that company has to pay the taxes twice. So once in Mongolia and secondly again in India. So this is called as double taxation and it is like an harassment as well. Therefore two countries have such double taxation avoidance agreements so that based on that agreement and understanding between the two countries the company need not pay the taxes twice. India has double taxation avoidance agreement with 93 countries as of now out of these 93 countries 22 countries have ratified the MLI convention. This means the bilateral double taxation avoidance agreement with these 22 countries has to be modified according to the requirements of MLI. This will make the double taxation avoidance agreements with these 22 countries MLI compliant. This is because even these double taxation avoidance agreements are misused by the companies to shift their profits. That is why it has to be made MLI compliant. That is the link between MLI and the double taxation avoidance agreement. For those countries that have not ratified MLI the bilateral double taxation avoidance agreements need not be modified. This is because these countries have not ratified that means they are not binding to modify the agreements with India in tune with MLI. This convention will come into force for India on 1st of October 2019. The provisions of MLI will have effect on India's double taxation avoidance agreements from the financial year 2021. So far all over the world 89 countries have signed this convention and out of these 89 countries 29 countries have ratified the treaty and India has won among these 29 countries since June 25th 2019. Now have a look at the practice question. Let us move on to the next news article. This news article is about the procedure to include certain names in the list of schedule casts. Now the analysis of this news article will be relevant in your plums preparation under current events of national importance and then under Indian polity and governance. The analysis can also be linked to your main preparation in your General Studies paper one under social empowerment and then in your General Studies paper two under significant provisions of Indian constitution. Now the news article states that the state government of Uttar Pradesh has directed the district magistrates and commissioners to issue schedule cast certificates to 17 other backward castes. Now this move of the Uttar Pradesh government was seen as inclusion of names of 17 OBCs in the list of scheduled castes. But if you see the union minister of social justice and empowerment as criticized the actions of Uttar Pradesh government he has told that it is unconstitutional. He said that only parliament has a right to alter the notified list of scheduled castes. So if you see it has been given in article 341 of the Indian constitution. Now this article is provided for the procedure to include and to exclude a name from the notified list of scheduled castes. Yesterday during our last session that is in the discussion of practice question session we studied that article 342 deals with the power of president to notify certain tribes to be deemed as scheduled tribes. Today we are going to see the same procedure with respect to the scheduled castes. Now part 16 of the Indian constitution deals with special provisions relating to certain classes. Articles 330 to article 342 are the articles which I mentioned under this part 16. Here article 341 talks about two things. One is that the president may specify the castes that are deemed to be scheduled castes in relation to a state or union territory after the consultation with the governor of a state. So this is done through a public notification. The second thing dealt by this article is about the procedure to alter the names in the notified list of scheduled castes of a state or a union territory. Now in order to include or exclude a name in the list of scheduled castes which is specified in the notification that is issued by the president, the parliament has to enact a law. And this law will include or exclude a particular cast name or a group of castes in the notification issued by the president under article 341 clause one of the Indian constitution. Now this move of the Uttar Pradesh government will not stand the test of judicial scrutiny as the procedure followed by the Uttar Pradesh government is unconstitutional. And it also undermines the constitutional authority of the parliament over the matter. Now have a look at the practice question. Let us move on to the next news article. Next, we shall see the data point which is titled safety last. This data point has appeared in the OPET column in all the four editions. Now the analysis of this data point will be relevant in your prelims preparation under current events of national importance and then under economic and social development particularly under social sector initiatives. Now the statistics from this data point can be used in your main answers that is related to women, safety of women, government policies for women. So the analysis will be relevant for your main preparation in your general studies paper one under the area. Role of women and women's organization and associated issues, developmental issues, urbanization, their problems and their remedies. Then in your general studies paper two under government policies and interventions for development in various sectors and issues arising out of their design and implementation. And also under welfare schemes for vulnerable sections of the population by the center and the states and the performance of these schemes. On 30th of June in the Hindu news analysis we have seen in detail about what is meant by Nibbaya fund. So for the static part just refer to our 30th June analysis for more subject clarity. Today, let us see the statistics regarding this Nibbaya fund starting with a brief intro on what is meant by Nibbaya fund. Know that Nibbaya fund was announced in the year 2013. This was announced to support the initiatives in order to ensure the safety of women. Also know that the ministry of women and child development is the nodal ministry to uprise or evaluate and to recommend the proposals and schemes which are to be funded under this Nibbaya fund. Now with this brief idea about Nibbaya fund let us see the statistics now. Now this first graph is about the utilization of Nibbaya fund to ensure the safety of women. You can split this graph into based on the funds released and based on the funds utilized. You can see that all the bigger states in India in terms of size and population and Delhi also have received at least more than 20 crore of funds and almost all the smaller states and the union territories except for this Delhi and the national capital region of India have received funds lesser than 20 crore. Then if you split this graph based on the percentage of funds utilized out of the total funds allocated you can see that the best performing status Mizoram and the best performing union territory is Chandigarh. Now Mizoram has used around a 56 percentage of allocated funds and Chandigarh has utilized about 59 or closely around a 60 percentage of the fund that was allocated. In this data point it is mentioned that Delhi has used less than one percentage of the total Nibbaya fund allocated. Also you can see Maharashtra has not utilized any of the funds allocated and the West Bengal state has also utilized less than one percentage of the total funds allocated. Next let us see the graph about crime and safety. Now in this data point itself they have split the graph into four as A section B section C and section D. Here the A section means the states where the crime rate is high and lower funds have been utilized. And the section B refers to the states where the crime rate is low and also very lower funds have been utilized. Then section C means the states where the crime rate is low and higher funds have been utilized and finally section D refers to the states which have high crime rate despite higher utilization of funds. Here know that the crime rate is calculated as crimes against women per one lakh female population in each and every state. So from this graph you can tell that the states mapped in this section A or the A portion are the worst performing ones. Especially the state of Delhi and this data point itself they have mentioned that Delhi has registered 160 incidents of crime against women per one lakh female population in the year 2016. So it is the highest in the country when compared to all the other states in union territories as you can see. The next worst performing state is the state of Assam where roughly about 130 incidents have been registered. Let's see section C now. Now the section C states are those states where there is better utilization of funds and also the crime rates against women are very low. If you see the state of Uttarakhand as utilized about 51 percentage of Nibbaya fund and the crime rate is also comparably lesser which is less than 30 per one lakh female population in this state. The third graph is about the scheme wise expenditure of those states which have poorly utilized or not utilized the Nibbaya fund at all. From the stable you can see that states like Maharashtra and Tripura have not utilized even one rupee of the allocated money. It is 0, 0, 0 under all these three schemes. Now these three schemes are implemented through this Nibbaya fund. They are emergency response system, then universalization of women's helpline, then central victim compensation fund. Now we have seen these three funds on our 30th June analysis. Just have a look at it for further subject clarity. Have a look at the practice question. Let us move on to the practice question discussion session. The first question, consider the following statements with reference to river Kaveri and they have given three statements. So the first statement is it is a west flowing river. Second statement it originates from Karnataka and drains in Bay of Bengal. And the third statement the state government of Karnataka has proposed a water reservoir project across the river at Mekhedhatu. Now here the first statement is wrong because during our discussion we saw that it is an east flowing river. It originates from the state of Karnataka, passes through the state of Tamil Nadu and drains in Bay of Bengal. So the first statement is wrong and the second statement is correct here. Now the third statement, the state government of Karnataka has proposed a water reservoir project across the river at Mekhedhatu. This statement is correct because this project has been proposed for supplying drinking water to the nearby city of Bengaluru. Now we saw that the first statement is wrong. Just by knowing that the first statement is wrong we can straight away go to the correct answer which is option C 2 and 3 only. But we also saw the other statements. So we know that 2 and 3 are the correct statements. So the correct answer is option C 2 and 3 only. Moving on to the second question with a reference to India's ratification to the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting consider the following statements and they have given three statements. So here the first statement is India signed the convention in 2017 but ratified it only in the year 2019. It is correct. It was ratified on 25th of June 2019. So the first statement is correct. Moving on to the second statement the ratification will help India in addressing the loss of revenue as a result of treaty abuse and profit shifting. Now we saw what is meant by treaty abuse. Treaty abuse refers to those companies that use the loopholes or gaps in the existing bilateral tax treaties between two countries to shift their profits. So the convention will also check such abuses of tax treaties as well. So the second statement is also correct. And the third statement, India will have to modify the double taxation avoidance agreements with countries that have already ratified the convention. So we saw that India signed some double taxation avoidance agreements with many of the countries but it will have to modify the agreement only with those countries which have signed this MLA convention. So the third statement is also correct. So here the question is asked for the correct statements. The correct answer is option D, 1, 2 and 3 only. Moving on to the next question by which of the following procedures can the notified list of scheduled CASB altered? Here the correct answer is option D the parliament by enacting a law. We saw during our analysis that there is a constitutional procedure as per article 341 of Indian constitution for the scheduled CAS. So under this article, the parliament can pass a law to alter the notified list of scheduled CAS. And for scheduled tribes, we saw that article 342 in our yesterday's practice questions discussion. Now today's news article is more or less this option A where the state government has passed in order to the district magistrates and the commissioners in order to issue CAS certificates to the 17 other backward CAS. Moving on to the next question the nodal ministry for uprising and recommending the proposal or schemes under Nibbaya fund is which of the following ministries? They have given ministry of finance, ministry of social justice and empowerment, then ministry of women and child development and then ministry of labor. Here during our analysis, we saw that the nodal ministry for uprising, evaluating and recommending the proposal or schemes under this Nibbaya fund is the ministry of women and child development. But know that this fund was set up by the ministry of finance in the year 2013. And this fund is also administered by the same ministry under its department of economic affairs. Then the ministry of finance has also issued guidelines that the ministry of women and child development will be the nodal ministry for uprising and recommending the proposal and schemes under this Nibbaya fund. So just know the difference between the two and just by seeing Nibbaya fund don't go for the option A ministry of finance. So the correct answer is option C ministry of women and child development. Now moving on to the main question India's target of a $5 trillion economy by the year 2024 is challenging but achievable, discuss. The question is asked you to discuss. We saw in our editorial analysis that Indian prime minister has set a target to achieve a $5 trillion Indian economy by the year 2024. Mentioned that the present value of Indian economy is around $2.7 trillion. Then the court tells that the target is challenging but achievable. So mention what are the challenges in achieving this target. In our editorial analysis, we saw that a lesser domestic savings rate then lesser investments, then more private consumption, then India's banking sector slowed down, then lesser export to GDP ratios as some of the challenges in order to achieve this $5 trillion economy. Then you can also mention some other external challenges like the ongoing trade war between USA and China, then the oil price fluctuations that are happening around the world, then the unhealthy bilateral trade relations with certain countries like USA, Iran, for India as well. Then you can also mention that the production activities in the country can be improved with proper investments. So the scope is wider to answer this question. Try to stick on to the trending current issues and link them to this question. With this, we come to the end of the analysis of all the news articles taken up for today's discussion and also the practice question discussion session. Do like, comment and share the video and do subscribe to Shankar IAS Academy YouTube channel for latest videos and updates. Stay focused and motivated friends. Thank you.