INTERNATIONAL
Tony Abbott is Australia’s new Prime Minister
Tony Abbott , Leader of the Liberal Party elected as the Prime Minister of
Australia on 8 October.Liberal Party won the 44th Parliamentary elections.
Liberal Party defeated the in-power Labor Party in the general elections held
on 7 September 2013 to return back in power as the Liberal-National coalition
for the first time in six years.With this win, Tony Abbott the leader of the
Liberal-National Coalition will become the Prime Minister of the Country and
successor of Kevin Rudd of the Labor Party.The coalition won 88 seats in the
150 seat Parliament. The ruling Labor Party was successful in winning 57 seats.
US and Russia Agreement on Removing Chemical
Weapons on Syria
The United States and Russia have on 14 September agreed on a framework for
removing chemical weapons from Syria .The break- through was announced after
three day talks between the US Secretary of State John Kerry and Russian
Foreign Minister Sergei Lavrov in Geneva.The USA and Russia have agreed that
Syria’s chemical weapons must be destroyed or removed by mid-2014. USA outlined
a six-point framework under which Syria must hand over a full list of its
stockpile within a week.
European Union Pledges 650 million euros To Somalia
The European Union has pledged 650 million euros ($868 million) in aid to
Somalia to back a three-year reconstruction plan aimed at building on fragile
security gains in the country.International donors met in Brussels on 16
September to approve Somalia’s “New Deal.”International donors pledged 1.8
billion euros for Somalia.
232 Million Global Migrants Living Abroad World
Wide
On 12 September According to the new figures from the UN Department of Economic
and Social Affairs (UN-DESA) showed that 232 million people, or 3.2 percent of
the world’s population, live abroad worldwide, compared with 175 million in
2000 and 154 million in 1990.With more people than ever living abroad, Asia
sees the largest increase of international migrants in the past decade, and the
US remains the most popular destination.New figures from the UN Department of
Economic and Social Affairs (UN-DESA) showed that 232 million people, or 3.2
percent of the world’s population, live abroad worldwide, compared with 175
million in 2000 and 154 million in 1990.The new estimates include breakdowns by
region and country of destination and origin, and by sex and age. The north, or
developed countries, is home to 136 million international migrants, compared
with 96 million in the south, or developing countries.
Egyptian Court Bans Muslim Brotherhood
The Egypt court on 23 September has banned the Muslim Brotherhood from carrying
out any activities in the country.The court also ordered the seizure of any
assets held by the Brotherhood, estimated by the interim military-backed
government to have more than a million members.The administrative court gave
the ruling after a lawsuit was filed by the leftist Tagammu Party to review the
Islamist group’s status as a non-governmental organisation.
Current Affairs
August-2013
INDIA & WORLD
3rd India – Republic of Korea Foreign Policy and Security Dialogue Held In Seoul
The 3rd India – Republic of Korea (ROK) Foreign Policy and Security Dialogue (FPSD) was held in Seoul on 2 September .The Indian side was led by Mr. Ashok K. Kantha, Secretary (East), Ministry of External Affairs (MEA) and the Republic of Korea (ROK) side was led by First Vice Minister for Foreign Affairs Mr. Kim Kyou-hyun.Both nations discussed ways to further expand and deepen their Strategic Partnership. They undertook a comprehensive review of bilateral ties, including in the fields of economic collaboration, defense and security cooperation, cultural exchanges and people-to-people contacts.They agreed to step up cooperation in the spheres of maritime and cyber security.It was agreed that the 4th India-ROK Foreign Policy and Security Dialogue will be held at New Delhi at a mutually convenient time in 2014.
July-2013
June-2013
May-2013
April-2013
March-2013
February-2013
January-2013
December-2012
November-2012
October-2012
September-2012
August-2012
July-2012
June-2012
May-2012
April-2012
March-2012
February-2012
January-2012
Government Approves India-Abu Dhabi Air Services
Agreement
The India-Abu Dhabi bilateral air services agreement, which ran into
controversy following the Jet-Etihad deal, was approved by the Government of
India on 2 September enabling their airlines to fly 50,000 seats each week, up
from the current level of 13,700.The agreement received post-facto approval of
the Union Cabinet at a meeting chaired by Prime Minister Manmohan Singh in
NewDelhi
7th India-Laos Joint Commission Meeting Held In
Vientiane
The 7th India-Lao Joint Commission Meeting on bilateral cooperation was held in
Vientiane on 9 September.In the meeting Indian side was led by External Affairs
Minister Salman Khurshid and the Laos side was led by Dr. Thongloun Sisoulith,
Deputy Prime Minister and Minister of Foreign Affairs.An Agreement under Line
of Credit for four Irrigation Projects in three provinces in the Lao PDR for
30.94 million US dollars was signed and conversion of another Line of Credit to
substitute the Nam Boun-2 hydro power plant by the extension of transmission
lines to Thasala-Laksao amounting to 35.25 million US dollars was approved. The
projects will contribute to socio-economic development in Lao PDR.The two
nations identified agriculture, defence, ICT, culture, education, health, trade
and investment promotion, mining as priority areas of cooperation between the
two countries that would give further impetus to bilateral relations.
India, Japan Signed Statement To Study LNG Pricing
India and Japan on 9 September signed a statement on conducting a joint study
on the pricing of Liquefied Natural Gas (LNG) with an aim to form a transparent
and globally competitive LNG price in the Asia Pacific market.India’s Minister
for Petroleum and Natural Gas, Veerappa Moily and Japanese Minister for
Economy, Trade and Industry Toshimitsu Motegi signed the joint statement in
Tokyo.
India – China Agreed To Enhance Cooperation In
Media Sector
India and China on 16 September have agreed to initiate steps to include media
cooperation as part of 2014 celebrations being observed to commemorate
“Friendly Exchanges” between the two countries.The agreement was a part of the
first meeting of the India-China Media Forum being held in New Delhi. The
meeting took place between Manish Tewari, Minister for Information &
Broadcasting of India and Cai Ming Zhao, Minister of State Council Information
Office of China.
India and US signed First Commercial Agreement
Under Nuclear Deal
Five years after India and the US signed a landmark civil nuclear deal, the two
countries have clinched the first commercial agreement on civilian nuclear
power cooperation.President Barack Obama announced the agreement on 27
September after his meeting with Prime Minister Manmohan Singh at the White
House Oval Office.India’s nuclear operator NPCIL (Nuclear Power Corporation of
India Limited) and US firm Westinghouse have signed an agreement that will pave
the way for setting up an atomic plant in India.
NATIONAL
Prime Minister Manmohan Singh Launched ‘ Gandhi
Heritage Portal ‘ In NewDelhi
Prime Minister Manmohan Singh on 2 September launched the ‘ Gandhi Heritage
Portal ‘ in New Delhi.The Gandhi heritage Portal is set up to preserve, protect
and disseminate original writings of Gandhiji.The Gandhi Heritage Portal is a
technology-driven initiative aimed at making Gandhiji accessible all over the
world on an electronic platform. It would be one of the most authentic open
source archives on the life and work and thought of Mahatma Gandhi.
3rd All India Survey on Higher Education Launched
On 3 September Minister of State for Human Resource Development Jitin Prasada
launched the third All India Survey on Higher Education (AISHE)-2012-13 .The
survey was initiated in the year 2011 to prepare a robust data-base on higher
education.Data for the year 2010-11 was collected during the first year of the
survey.Keeping in view the usefulness of data collected during the very first
year, Ministry has decided to make this survey an annual exercise of data
collection in higher education sector. The survey covers all the Higher
Education (HE) Institutions of the country including Universities, Colleges,
and Stand-Alone Institutions.The main items of data collection under survey are
Basic details, Programme details, Teaching & Non-Teaching Staff, Student
Enrolment, Examination Results and Scholarships.
Judicial Appointments Commission Bill Passed In
Rajya Sabha
The Rajya Sabha on 5 September passed the Judicial Appointments Commission
Bill, which seeks to scrap the collegium system of appointing judges to higher
courts.The bill, which entails Constitutional amendment, seeks to set up a
Judicial Appointments Commission (JAC) to recommend appointment and transfer of
Supreme Court and High Court judges.
Lok Sabha Passed Bill To Set Up First National
Aviation University
Rajiv Gandhi National Aviation University Bill, 2013 was passed by the Lok
Sabha on 6 September.The purpose of the bill is to establish the first-ever
national aviation university in India, called Rajiv Gandhi National Aviation
University, which is named after Rajiv Gandhi. The University would train the
cabin crew, pilots as well as aircraft engineers.The proposed university would
come up at Sonia Gandhi’s constituency of Rae Bareli in Uttar Pradesh.
Cabinet Committee On Economic Affairs Approved
Proposal For Restructuring SJSRY
The Cabinet Committee on Economic Affairs on 3 September approved the proposal
for restructuring of the centrally sponsored Scheme of Swarna Jayanti Shahari
Rozgar Yojana (SJSRY) in the 12th Plan and as the National Urban Livelihoods
Mission (NULM) with an allocation of approximately Rs. 6,405 crore.The mission
of National Urban Livelihoods Mission (NULM) is reduction of poverty and
vulnerability of the urban poor households by enabling them to access gainful
self-employment and skilled wage employment opportunities.The mission will also
aim at providing shelter equipped with essential services to the urban homeless
in a phased manner.
President Gave Assent To Land Acquisition Bill
The Right to Fair Compensation and Transparency in Land Acquisition,
Rehabilitation and Resettlement Bill 2013,has received the assent of the
President of India on 27 Septmeber.The bill has now become law.The Lok Sabha
passed the bill on 29 August 2013 and Rajya Sabha passed the bill on 4
September 2013.The Right to Fair Compensation and Transparency in Land
Acquisition, Rehabilitation and Resettlement Law, 2013, replaces a British-era
law of 1894. It provides for fair compensation to owners whose land is taken
over, brings transparency to the process and lays down measures for
rehabilitation of those displaced.
STATES
Union Minister of Health & Family Welfare
Launched New Health Initiatives For Assam
Union Minister of Health and Family Welfare Ghulam Nabi Azad on 1 September
launched several new health initiatives worth Rs.500 crores under the National
Rural Health Mission (NRHM) for the strengthening of healthcare services in
Assam.The new initiatives are – Free Generic Drug Service, Rashtriya Bal
Swasthya karyakram (RBSK), National Iron Plus Initiative, Fleet of 359 New
Ambulances for National Ambulance Service.Ghulam Nabi Azad also inaugurated
Mother and Child Tracking System Call Centre and Tele-Radiology Project under
NRHM.
Himachal Pradesh Scrapped Palchan-Rohtang Ropeway
Project
Himachal Pradesh cabinet on 4 September decided to cancel construction of
Palchan-Rohtang ropeway project in Kullu district. The proposed project was
planned to transport around 9000 visitors between Palchan and Rohtang daily to
decongest the Manali-Leh road. There is a huge rush of tourists between May and
July every year.
Kerala Government Launched ‘ E-Payment ‘ Facility
The Kerala Government has launched on 5 September an “e-payment facility”
system enabling people to pay various utility bills and access Government
department services online.The payment of Utility bills of Kerala State
Electricity Board, Kerala Water Authority, BSNL and university fees could be
done through the gateway using credit and debit cards of 66 banks identified
for the scheme.One can avail the service at all Akshaya e-centers of the
government which would act as decentralized information hubs and service
delivery points.
MP Government Decided To Constitute State Disaster
Emergency Response Force
The Madhya Pradesh Government on 10 September decided to constitute a State
Disaster Emergency Response Force to deal with any calamity more effectively
and provide immediate relief to affected persons.Initially, the State Disaster
Emergency Response Force will be set up in Bhopal, Indore, Gwalior and Jabalpur
districts.100 jawans will be deployed in each of these districts.
Union Government Approved 1000 crore Proposal To
Develop J&K sports
The Union Government of India on 16 September approved a special package 1000
crore Rupees to strengthen sports infrastructure in Jammu and Kashmir .The
objective of the special package is construction of new stadiums and sports
fields across the state.The Jammu and Kashmir Government made a policy under
which every block in the state will be provided with both indoor and outdoor
sports complexes. Every panchayat in the state will be provided with a sports
field, and the government will also upgrade the already available sports
equipments.
Prime Minister Manmohan Laid The Foundation Stone
For New Airport In Rajasthan
Prime Minister Manmohan Singh on 21 September laid the foundation stone for a
new airport at Kishangarh town in Ajmer District, Rajasthan.Prime Minister Dr.
Manmohan Singhon also announced that small destinations in the country will
have air connectivity with a network of more than 100 airports, planned to meet
the expected passenger load capacity of 30 crore, by 2020.The first such
airport will come up in Kishangarh town in Rajasthan’s Ajmer district, the
airport which is scheduled to get operational by 2016.
CONFERENCES
8th G-20 Summit Held In Saint Petersburg
The eighth G20 Summit was held at St. Petersburg , Russia on 5 – 6 September
2013.The G20 nations discussed ways to ensure economic growth and financial
stability, create jobs and combat unemployment, stimulate investment and
promote multilateral trade, international development and anti-corruption. The
members of the Group of Twenty (G-20) are: Australia, Argentina, Brazil, Great
Britain, Germany, European Union, India, Indonesia, Italy, Canada, China,
Mexico, Russian Federation, Saudi Arabia, USA, Turkey, France, South Africa,
Republic of Korea, and Japan. The presidency of the G20 rotates annually among
its members.During the summit, Indian Prime Minister Manmohan Singh focused on
the ongoing economic crisis and urged the G-20 nations to pay more attention to
their monetary policies.The 2014 G-20 Australia summit will be the ninth
meeting of the G-20 heads of government.It will be held in Brisbane, the
capital city of Queensland, Australia, on 15-16 November 2014 .In a 27-page
declaration adopted at the end of the two-day Summit , the group of 20
industrialised and major emerging economies also reaffirmed its commitment to
roll back new protectionist measures.
Important Points of G-20 Leaders’ Declaration :-
* Recognising the risk of economic slowdown and weakening trade posed by
protectionism, the G20 has decided to extend until the end of 2016 its
standstill commitment to further progress in removing barriers and impediments
to global trade and investment.
* G-20 Leaders endorsed an ambitious action plan to change national tax rules
that encourage multinational companies to shift their profits to low- or no-tax
jurisdictions, allowing them not to pay tax on much of their income.
* The declaration committed itself to cooperate to ensure that policies
implemented to support domestic growth also support global growth and financial
stability and to manage their spillovers other countries.
* It noted that the most urgent need is to increase the momentum of the global
recovery, generate higher growth and better jobs while strengthening the
foundations for long term growth and avoiding policies that could cause the
recovery to falter or promote growth at other countries’ expense.
* Agreeing on the Action Plan, the leaders said cross-border tax evasion and
avoidance undermine public finances and trust in the fairness of the tax
system.
* The Summit also shared Prime Minister Manmohan Singh’s views on the need for
orderly exit from the monetary stimulus undertaken in the context of 2008
economic crisis.
AWARDS & HONOURS
Zubin Mehta Received Tagore Award
World acclaimed orchestra conductor Zubin Mehta was conferred the prestigious
Tagore Award for Cultural Harmony on 6 September by President Pranab Mukherjee
in New Delhi.The award carries an amount of One Crore Rupees, a citation in a
scroll, a plaque as well as an exquisite traditional handicraft/handloom
item.He is the second recipient after sitar maestro Pandit Ravi Shankar.
Amitabh Bachchan Honoured With ‘ 2013 Global
Diversity’ Award
Veteran Bollywood actor Amitabh Bachchan was conferred with the ‘ 2013 Global
Diversity Award ‘ at the House of Commons in the Palace of Westminster, Britain
on 11 September.Speaker of the House of Commons, Rt Hon John Bercow MP,
presented the award to Amitabh Bachchan.Bachchan, who has acted in more than
180 films, was voted the greatest star of the millennium in a 1999 BBC
poll.France’s highest civilian honour, the Knight of the Legion of Honour, was
conferred upon him by the French Government in 2007 for his exceptional career
in the world of cinema and beyond.
Indian Freedom Fighter Gets ‘ House of Commons
Award ‘
On 11 September An Indian freedom fighter was posthumously conferred a
‘Lifetime Achievement Award’ at UK’s House of Commons for his contribution
during India’s independence movement and its journey afterwards.Britain’s
Minister for Business Engagement with India Gregory Barker and Virendra Sharma,
Chair of the Indo-British All Party Parliamentary Group jointly presented the
award to late Jawaharlal Darda’s son, Vijay Jawaharlal Darda, MP and Chairman
and Editor-in-Chief of Lokmat, the most widely circulated Marathi language
newspaper.
John Abraham Honoured With ‘ Pride of the Nation
Award ‘
Bollywood actor John Abraham has been conferred with the Pride of the Nation
award on 16 September for his attempt to raise the sensitive issue of former
prime minister Rajiv Gandhi’s assassination through his role as a RAW agent in
Madras Cafe.The award was presented by Anti Terrorist Front chairman
Maninderjeet Singh in New Delhi. All-India Anti-Terrorist Front (AIATF) is an
anti-terrorist organisation led by Maninderjeet Singh Bitta.In Madras Cafe film
John Abraham made a courageous attempt to unravel the conspiracy behind the
assassination of Rajiv Gandhi. The film “Madras Cafe” is set in the late 80s
and early 1990s, during the time of Sri Lankan civil war and the assassination
of then Prime Minister Rajiv Gandhi.
Malala Yousafzai Received ‘Amnesty ‘ International
Award
Pakistani education rights activist, Malala Yousafzai has been named as the
recipient of 2013 Amnesty International’s highest award.Malala received Amnesty
International’s Ambassador of Conscience Award along with American singer and
human rights activist Harry Belafonte at ceremony on 17 September in Dublin,
Ireland.The Ambassador of Conscience Award is the human rights group’s highest
honour, recognizing individuals who have promoted and enhanced the cause of
human rights through their life and by example.She made her first public
appearance on 12 July 2013, her 16th birthday, when she delivered a speech at
the United Nations General Assembly in New York.
President of India Presented National Communal
Harmony Awards For The Year 2011 & 2012
The President of India Pranab Mukherjee presented the National Communal Harmony
Awards for the year 2011 and 2012 at a function in New Delhi.
National Communal Harmony Award for 2011: - Odisha’s MD Janab Haji Abdul Bari
and Mizoram’s Khamliana jointly awarded for the year 2011 individual category.
Both are social activists.
National Communal Harmony Award for 2012:- The Foundation for Amity and
National Solidarity, Delhi awarded for Organisational category. The foundation
formed in 1984.The Foundation works for spreading amity and communal harmony.
Bunker Roy and Malala Yousafzai Received Clinton
Global Citizens Awards
India environmentalist Bunker Roy and Pakistan’s teenage education activist
Malala Yousafzai on 23 September 2013 declared as winners of the Clinton Global
Citizens Awards for the year 2013. Roy is the founder of the Barefoot College,
which has been providing solutions to problems in rural communities for more
than 40 years.Malala Yousufzai has co-founded Malala Fund with the intension to
continue support for universal access to education.They received these awards
during Clinton Global Initiative Annual Meeting on 24 September in New York
City.The Clinton Global Citizen Awards were launched in 2007 to honour
outstanding individuals for their visionary leadership, demonstrated impact,
and sustainable and scalable work in solving global issues.
SPORTS & GAMES
US Open Tennis Tournament 2013 Winners
Women’s Singles :- On 8 September Serena Williams (U.S) won the US
Open Tennis Tournament 2013 Women’s singles title after defeated Victoria
Azarenka of Belarus in the final at Arthur Ashe Stadium in New York.With this
win Serena Williams secured her fifth US Open title and 17th Grand Slam title
of the overall career.
Men’s Singles :- Rafael Nadal (Spain) won the 2013 men’s singles
U.S. Open title after defeated Novak Djokovic (Serbia) in the final.It is
Nadal’s second US Open title, and his 13th Grand Slam.
Women’s Doubles :- Czech duo Andrea Hlavackova and Lucie Hradecka won
the U.S. Open women’s doubles title after defeated Australia’s Ashleigh Barty
and Casey Dellacqua in the final.
Men’s Doubles :- The pair of Leander Paes of India and Radek
Stepanek of the Czech Republic won the doubles title after defeated Alexander
Peya of Austria, and Bruno Soares of Brazil in the final .Leander Paes has
earlier won the US open title two times .Now Paes has 14 major titles in his
cupboard, including six mixed doubles trophies.
Tokyo To Host 2020 Summer Olympics
On 7 September Tokyo has been chosen to host the 2020 summer Olympic Games by
the event’s organising committee, beating out Istanbul and Madrid in the final
vote tally.Japan won the right to host Olympic Games for the second time. It
had previously hosted the Games in 1964.
Wrestling Selected for 2020 Olympic Games
Wrestling regained entry into the Olympic Games program on 8 September after
the International Olympic Committee selected the sport for inclusion in the
2020 and 2024 Games over bids from squash, baseball and softball.IOC at its
125th session held in Buenos Aires, Argentina decided to include wrestling in
the 2020 Olympics in addition to the 25 core sports.Wrestling, squash and
baseball/softball were in contention for being included as an additional sport
in the 2020 Olympics.
Afghanistan Won SAFF Championship 2013
Afghanistan, for the first time in its history, won the trophy of South
Asian Football Federation (SAFF) Championship 2013 defeated India 2-0 in the
final held at Dasharath Stadium in Kathmandu on 11 September. India has won the
championship six times (1993, 1997, 1999, 2005, 2009, 2011).The next edition of
the SAFF Championship will be held in India in 2015.
Mohameddan Sporting Won Durand Foot Ball Cup
Kolkata’s Mohammedan Sporting club won the 126th Durand Foot ball tournament on
19 September as it defeated ONGC 2-1 in the final at the Ambedkar Stadium in
New Delhi.They have lifted the cup after 73 years having won it back in
1940.The Durand Football Tournament was started at Simla in the year 1888 by
Sir Henry Mortimer Durand, who was then, the Foreign Secretary to Government of
India. Durand is the third oldest football tournament in the world and oldest
in Asia and India.
Sania Mirza Wins Pan Pacific Open Doubles Title
Sania Mirza of India and Cara Black of Zimbabwe won the Toray Pan Pacific Open
tennis championship women’s doubles title after defeated Hao-Ching Chan
(Chinese Taipei) and Liezel Huber (USA) in the final at Tokyo on 28 September
.This was Sania’s fourth title of the season.
India Won Sultan of Johor Cup Hockey Tournament
2013
India defeated Malaysia 3-0 to win 3rd Under-21 Sultan of Johor Cup hockey
tournament in Johor Bahru on 29 September .The goals from the Indian side were
scored by Amon Mirash Tirkey (22nd), Affan Yousuf (52nd) and Manpreet Singh
(64th).
ECONOMY
Microsoft Decided To Buy Nokia’s Mobile Phone Unit
and Services
Microsoft Corporation and Nokia Corporation on 3 September announced that both
companies have decided to enter into a transaction whereby Microsoft will
purchase substantially all of Nokia’s Devices & Services business, license
Nokia’s patents, and license and use Nokia’s mapping services.Under the terms
of the agreement, Microsoft will pay 3.79 billion Euros to purchase
substantially all of Nokia’s Devices & Services business, and 1.65 billion
Euros to license Nokia’s patents, for a total transaction price of 5.44 billion
Euros in cash.Nokia Corporation is a Finnish multinational communications and
information technology corporation (originally a paper production plant) that
is headquartered in Espoo, Finland.Its principal products are mobile telephones
and portable IT devices.Nokia owns a company named Nokia Solutions and
Networks, which provides telecommunications network equipment and services.
India Now Has 7850 Ultra Wealthy Individuals
On 11 September According to the ” 2013 Wealth-X report “, India has 7850 UHNW
(Ultra-High-Net-Worth) individuals in 2013 compared to 7730 in 2012 an
increased of 1.6 percent. Out of these, 103 individuals have wealth of over USD
1 Billion dollars. The billionaire club has shrunk from 109 people in 2012 to
103 in 2013.Total combined wealth of billionaires also fell by 5.3 per cent
$180 billion ($190 bn in 2012).A city-wise analysis shows that more than 90 per
cent of India’s UHNW population live in top 10 cities including Mumbai, Delhi,
Bangalore, Kolkata, Hyderabad, Chennai, Ahmedabad, Pune, Gurgaon and
Jaipur.Mumbai and Delhi, however, dominate with more than 50 per cent of the
country’s UHNW population based in one of these two cities.
Cabinet Approved Buying $ 4.3 billion World Bank
Bonds
The Union Cabinet on 12 September gave the go-ahead to the Reserve Bank of
India (RBI) to invest $4.3 billion in special bonds of the World Bank as it
would help in securing additional funding from the multilateral lending agency
for infrastructure development projects.Under the arrangement, the Reserve Bank
of India will subscribe to special private placement of bonds by the IBRD, a
lending arm of the World Bank.
Indian Economy To Grow At 5.3% In 2013-14
The Economic Advisory Council to the Prime Minister (of India) on 13 September
2013 released the report “ Economic Outlook 2013-14 “ in New Delhi.The economic
growth forecast of India for the current fiscal 2013-14 was lowered to 5.3
percent from 6.4 percent projected earlier. The PMEAC had in April 2013
projected 6.4 percent growth for Indian economy for current financial year.RBI
too had earlier lowered its growth projection for this fiscal to 5.5 percent
from 5.7 percent.
Highlights of the of Economic Outlook India are as following : -
* The PMEAC expects the agriculture sector to grow by 4.8 percent in the
current fiscal up from 1.9 percent, while the industrial growth has been pegged
at 2.7 percent as against 2.1 percent in 2012-13.
* Services projected to grow at 6.6%in 2013-14 as against 7.1% in
2012-13.
* Referring to the external sector, the advisory council expressed hope
that the Current Account Deficit (CAD) in 2013-14 will come down to 70 billion
US dollars or 3.8 percent of GDP, from 88.2 billion US dollars or 4.8 percent a
year ago.
* The trade deficit ,would come down to around USD 185 billion in 2013-14,
against an estimated USD 195.7 billion in 2012-13.
* Between 2010-11 and 2012-13, the combined impact of higher net oil and net
gold imports on the CAD (Current Account Deficit) was almost 57 billion US
dollars or 3 percent of GDP.
* The CAD may go even below $ 70 billion in 2013-14 if the recent trends in
exports and imports are maintained through the year.
* Net Capital flows are projected to fall to USD 61.4 billion in 2013-14
against an estimated USD 89.4 billion in 2012-13 putting pressure on the
country’s forex reserves.
RBI Increases Repo Rate By 25 Basis Points
The Reserve Bank of India (RBI) on 20 September increased the repo rate or the
short term lending rate by 25 basis points to 7.5 per cent from 7.25 per cent
with immediate effect. This means that the Repo rate has been increased by 0.25
percent.The cash reserve ratio (CRR) remained unchanged at 4 percent.The RBI
previously raised the repo rate in October 2011 by 0.25 per cent to 8.5 per
cent.
‘ India Entertainment & Media Outlook 2013 ‘
Report Released
According to the Confederation of Indian Industry (CII) –
PricewaterhouseCoopers (PwC) ‘s latest report titled, ‘India Entertainment
& Media Outlook 2013 ‘ was released on 13 September in New Delhi.
Highlights of the ‘India Entertainment & Media Outlook 2013 ‘ Report
:-
* India’s entertainment and media industry to clock over INR 224, 500 crore by
2017: CII-PwC study forecast CAGR of 18% over 2012-17
* Now the size of the Indian M&E sector increased from about 805 billion
INR in 2011 to almost 965 billion INR in 2012 representing an year-on-year
growth of 20%.
* The television and print sectors dominate the industry with about 40% and 22%
contribution to industry revenues respectively in 2012.
* Internet access now commands about 18% share and films 12% of industry
revenues.
* Internet access now commands about 18% share and films 12% of industry
revenues.
* The print sector revenues are expected to increase at over 9% CAGR to reach
331 billion INR in 2017 from 212 billion INR in 2012.
* Year-on-year sectors such as internet access (30%), internet advertising
(29%), gaming (19%), and music (15%) are expected to continue on their high
growth trajectory.
* The radio sector is also expected to receive a fillip with the successful
conclusion of Phase III licence auctions and it is expected to grow at a robust
CAGR of about 16%.
SCIENCE & TECHNOLOGY
Indian Air Force inducts its Biggest Transport
Aircraft ‘ C-17 Globemaster III ‘
Union Defence Minister AK Antony on 2 September formally inducted IAF’s biggest
70-tonne heavy-lift transport aircraft ‘ C-17 Globemaster III ‘ into service at
the Hindon Air Base near Delhi.The C-17 Globemaster III aircraft has been
procured from the US under a deal expected to be over Rs.20,000 crore.The C-17,
with a capability to carry around 70 tonnes of load and around 150 fully geared
troops, will replace the Russian Il-76 as the biggest aircraft in the IAF
inventory till now.The IL-76 has the capability to carry loads upto around 40
tonnes.The IAF has placed orders with the US for ten C-17 aircraft under the
deal signed in 2011 and three of them have already been delivered.The US Air
Force is scheduled to complete the delivery of all the 10 planes by the end of
2014.
NASA Launches Spacecraft To Study Moon Atmosphere
NASA’s Lunar Atmosphere and Dust Environment Explorer (LADEE) mission was
successfully launched by a Minotaur 5 (spin stabilised delivery version) rocket
on 7 September from NASA’s Wallops Flight Facility in Virginia.LADEE is a
robotic mission that will orbit the moon to gather detailed information about
the lunar atmosphere, conditions near the surface, and environmental influences
on lunar dust.
World’s Largest Volcano Discovered Under Pacific
Ocean
The world’s largest volcano has been discovered on 5 September by University of
Houston researchers on the floor of the Pacific Ocean. The volcano, 1,600
kilometres east of Japan and called the Tamu Massif, is the size of the British
Isles.At 310,000 sq km (119,000 sq mi) Tamu Massif is comparable in size to
Mars’ vast Olympus Mons volcano – the largest in the solar system..The volcano
consists of a vast single rounded dome in the shape of a shield, which is
believed to have been formed 144 million years ago when it last erupted.Its top
lies about 6,500 feet below the ocean surface.
Japan Launches New Epsilon Rocket
Japan’s Epsilon-1 rocket — the first in a new generation of space rockets and
the country’s first rocket in 12 years — lifted off on 14 September from a
space center on Japan’s southern main island of Kyushu.The rocket, 24 meters in
height and 90 tons in weight, placed the Spectroscopic Planet Observatory for
Recognition of Interaction of Atmosphere, or SPRINT-A, into its orbit about an
hour after the launch. The telescope will be used to observe planets including
Venus, Mars and Jupiter from its Earth orbit.The Epsilon is the first new
rocket design for Japan since the H2A was introduced in 2001. The H2A remains
Japan’s primary rocket but officials hope the Epsilon will lead to improvements
in the more costly H2A program. Japan hopes to be more competitive in the
international rocket-launching business.
India Successfully Test Fired Nuclear – Capable ‘
Agni V ‘ Long Range Missile
India’s most deterrent nuclear capable ballistic missile, Agni-5 was
successfully test fired on 15 September from Chandipur Test Range in Balasore
district off Odisha coast.Developed by the Defence Research and Development
Organisation (DRDO), the Agni-5 can carry a single nuclear warhead of over 1000
kg and can strike with precision targets in China and Europe.The indigenously
developed missile Agni-V is capable of striking a range of more than 5000 km.
It is about 17 meter long and 2 metres wide with launch weight of around 50
tonnes.The first test flight of the Agni-5 on 19 April 2012 was a phenomenal
success after which India joined the select club of the United States, Russia,
France, Britain and China who have such capabilities. Agni-5 will give India
the ability hit back or have second-strike capability even after a nuclear
attack. The missile is India’s fastest-travelling object and the first one to
cross the Equator when launched from India.In the Agni series, India at present
has Agni-1 with 700 km range, Agni-2 with 2000 km range, Agni-3 and Agni-4 with
2500 km to more than 3500 range.
US Launches Unmanned Cygnus Cargo Ship To ISS
Orbital Sciences Corp launched the first flight of its unmanned Cygnus cargo
ship on 18 September to the International Space Station, as NASA forges ahead
with its plan to privatise US space missions.The Cygnus capsule, hitched to
Orbital Science’s Antares rocket, blasted off from NASA’s Wallops Flight
Facility off Virginia’s eastern coast.Cygnus will ferry about 1,300 pounds (590
kilograms) of food, clothing and other cargo for the crew aboard the space
station.
Iran Displays 30 Missiles With 2000 km Range
Iran paraded 30 missiles with a nominal range of 2,000 km on 22 September, the
first time it had displayed so many with a stated capacity to hit Israeli
targets.Iran displayed 12 Sejil and 18 Ghadr missiles at the annual parade
marking the anniversary of the outbreak of the 1980-88 Iran-Iraq war.The stated
range of both missiles would put not only Israel but also US bases in the Gulf
within reach.
PERSONS IN NEWS
A) APPOINTMENTS
Rakesh Sood Appointed as PM’s Special Envoy on
Disarment and Non-Proliferation