INTERNATIONAL
Nepal Calls For Help to Settle Mt
Everest Height
Nepal is appealing to the international donors to
help its finally settle, a long-running dispute over the height of Mount
Everest, according to a Government official. The World’s highest peak, Which
straddles Nepal and China, is usually attributed a height of 8,848 meters
following an Indian survey in 1954, but other an American team using GPS technology,
recorded a height of 8,850 meters. Everest was first measured in 1856. In 2010,
Nepal and China reached a compromise under which Nepal measured the height of
Everests snow cap at 8,848 meters and China measured the rock peak at 8, 844
meters.
US Court Dismissed a Lawsuit
Against, Sri Lankan President
A US federal Judge on 1 March 2012, dismissed a
lawsuit filed against the Sri Lankan President Mahindra Rajapaksa. The lawsuit
alleged that the president Rajapaksa is responsible for human right abuses
occurred during the civil war in Sri Lanka.
25 EU States Sign Pact For Budget
Discipline
All but two European Union Countries signed a
fiscal pact to tighten budget discipline on 3 March 2012, making a coup for
Germany that pushed for the accord to prevent a repeat of the loose spending
that led to economic crises. Only Britain and czech Republic did not sign the
agreements , under which all other countries in the 27- nation blocks are to
write a golden rule on balanced budget in national constitutions equivalent
laws and automatic corrections mechanism, if the rule is breached.
China Develops Systems To Predict
Earthquakes
Chines scientists claimed to have developed a
system to monitor the movement of the Earth’s crust and predict earthquakes.
The new system will be based on satellite navigation involving a network of 260
constant observing stations and 2,000 part time observing stations with data
processing technology. According to the officials of China Earthquake
Administration, The new system will be used for weather forecasting and
scientific research, among their purposes.
US Sees Vatican As Hub For
Hawalas
The Obama Administration for the first time has
identified Vatican City as a potential hub for money laundering along with 67
other countries. The state department Annual International Narcotics Control
Strategy Report (INCSR) identifies the 67 countries for money laundering or
other financial crimes.It looks at the national laws to fight financial crime,
their enforcement as well as the size of the banking sector. Major economics
including the US, Britain and Japan are identified as countries of primary
concern for money laundering.
Forbes Rich List Of 2012
Maxican Tycoon Carlos Slim Helu retains his
position as the World’s richest person. An all time high 1,226billion worth a
record $4.6trillion were counted this year. The second is Bill Gates with
61.0billion, Warren Buffett in the third place with 44.0billion, the last three
in top 10 are Stefan Persson with 26.0billion Li Ka Shing with 25.5billion and
Kari Albrecht with 25.4billion.
Russia To Offer Air-Base To US
A new deal allowing the United States and its NATO
allies to use a Russian air base for transit of troops and military cargo to
Afghanistan. It would help Russia’s own security, Russia’s Foreign Minister
said that the plan to permit the US and other NATO nations to use their air
base in the city of Ulyanousk on the Volga River will be considered by the
Russian cabinet.
China, World’s Biggest Art,
Antiques Marketer
China had overtaken the US as the World’s biggest
market for art and antiques in 2011. According to the report, China share of
the global art market rose from 23% to 30% last year pushing the US to second
place with a share of 29%, UK with a share of 22% in third place and France in
fourth place with 6%.
Putin Wins Presidential Poll
Prime Minister Vladimir Putin had won for the third
term as Russian President in the Presidential elections held on 4 March 2012
and gets the highest percent of 63.6% votes in the election.
Oil Discovered in Kenya
The President of Kenya, Mwai Kibaki said on 26
March 2012 that oil deposits had been discovered in the country’s Northwest and
first time in the East African nations. He cautioned that commercial viability
is still uncertain through it was good news for the country, but the discovery
was the beginning of a long journey before Kenya could become an oil producer.
The discovery was made in Kenya’s Turkana region, Neighbouring South Sudan and
Uganda both have oil industries. The discovery was made after exploratory
drilling by Anglo-Irish firm Tullow oil
Syria Accepts Kofi’s 6-Points
Peace Plan
Syria had accepted UN Arab League envoy Kofi
Annan’s six points peace proposal to end the year long violence, a more which
the former UN Chief Kofi Annan described as an important initial step to taken
by the Syria to fulfill.
Syria commits to work with Annan in a inclusive
Syrian political process to address the legislative aspirations and concerns of
the Syrian people.
Syria commits to stop fighting and immediately stop
troop movements and use of heavy weapons in populated areas
Syria accepts and implements a daily two hours
humanitarian pause to deliver aid and evacuate the injured
Syria commits to intensify the pace and scale of
release of arbitrarily detained persons and provide a list of all places
Syria commits to ensure freedom of movement through
out the country for Journalists and a non discriminatory visa policy for them
Syria commits to respect freedom of association and
the right to demonstrate peacefully as legally guaranted
Beijing Begins Mapping Disputed
In South China Sea
China having maritime disputes with several of its
neighbours, said that it is mapping South China sea (SCS) with an aim to step
up exploration for oil and gas and reinforce its territorial claims. The
majority of the disputed water used to be beyond our reach because we seldom
put our claims into action. The Chinese Academy of Social Sciences, told by
drawing a map, the country can reinforce its jurisdiction claims in the South
China Sea, and further actions may fallow, such as exploiting resources near
the Nansha Islands.
Euro-zone Builds $1 trillion
Financial Firewall For Larger Economies
The Euro zone nations have reached a deal to build
up a massive 800billion euro ( around US 1.1trillion) financial firewall to
present the two years old sovereign debt crisis from anguefing larger economies
such as Spain & Italy. The finance minister of the 17 nations using the
single currency agreed at the start of a two day meeting in Copenhagen to boost
the fire power of euro-zone’s financial bailout fund to 700billion euros.It
will be done by bringing together the temporary European financial stability
facility mechanism (ESM) which has an initial funding capacity of 500billion
euros.
Coups In Mali Ousted Its
President
Rebel troops in Mali ousted its president Amadov
Toumani on 22 March 2012. The ousted president Amadov Toumani Toure was due to
leave office after elections on 29 April 2012 The rebels slammed the government
for failing to control an ethnic Tuareg insurgency in the Northern part of
Mali. The Tuareg insurgency includes fighters who supported Munnar Gaddafi in
Libya. USA suspended military and other funds directed to Mali Government.
INDIA & WORLD
India & China Move To
Maritime Cooperation
India & China had decided to open a new
bilateral cooperation by agreeing to undertake joint operation against pirated
and sharing technological know how on sea bed research. The maritime
cooperation proposals were made by visiting Chinese foreign minister Yang Jiechi.
This proposal was shared after Beijing was permitted by the international
seabed Authority to explore in South-west Indian ocean
India For Science Ties With
Africa
India is making stronger scientific ties with
Africa as science ministers from 31 African countries had gathered in New Delhi
on 1 March 2012. Minister of science & Technology, VilasRao Deshmukh had
Inaugurated the first ever India & Africa Science & Technology
conference and stressed the need to build bridges between the two scientific
communities and also enhance human resources in research and development.
India To Host Trade Show In
Jakarta
The Union Commerce minister, Mr. Anand Sharma and
Indonesia’s trade minister, Mr. Gita Iranwan Wirjawan, will inaugurate the high
profile Indian show being held in Jakarta, Indonesia from 6-8 March 2012. Over
75 domestic corporates would participate in a fair as the two countries aim to
achieve a bilateral trade target of $25 billion by 2015 from the current $
16.6billion.
India, Iran To Step Up Ties In
Renewable Energy
India and Iran had agreed to improve co-operation
in the field of renewable energy. Both the countries were called for stepping
up bilateral ties and economic cooperation in tourism, cultural exchanges and
people to people contacts
BRICS Summit Set Pact For Trade
This important move could facilitate trade between
Brazil, Russia, India, China and South Africa in local currency. Two agreements
had been linked at the Delhi summit level meeting of its leaders. The
agreements are non-binding and the leaders of these countries are to meet for
the BRICS summit scheduled to be held on 29 March 2012.
India & Colombia Signed
Exchange Programme For The Years 2012-16
India & Colombia on 12 March 2012 signed a
cultural exchange programme in New Delhi for the years 2012-16. The CEP was
signed in conformity with the provisions established Government of India and
the Government of Colombia, CEP was signed in Bogota, capital of Colombia. The
CEP includes areas such as cultural heritage, museum’s, Archives, exhibitions,
science Arts, Visual Arts, cinematography, Radio and Television, Music,
Libraries, Book and Literature, Creative Industrial and Editorial Industry for
Cooperation. Both the nations have agreed to set up a joint working group to
look after the implementation of their programme
Turkey Seeks More Flights From
Indian Cities
Turkey plans to not only to set up a consulate or
appoint honorary consul in Hyderabad but it is also seeking direct air
connectivity between Hyderabad and Istanbul. Turkish ambassador said that they
had applied to the Indian authorities for direct air link. Turkey had
also sought direct connectivity with Chennai, Amritsar, Bangalore and Kolkata.
The envoy was in town to pitch Turkey as an Investment destination and woo
Hyderabad based businessmen, from infrastructure and realty sectors
World’s Most Ethical Firms; Tata
& Wipro
The Ethisphere Institute’s Annual World’s Most
Ethical Companies (WME) list revealed that 145 companies in countries including
the US, Great Britain , Japan, Partuagal and India. Ethisphere evaluated about
5,000 global companies, including those in Standard & Poor’s 500 index on
reputation. India stood out for setting high standards of employees behaviour
and conduct. Tata Steel and Wipro had been named among the World’s Most Ethical
Companies by an American Ethical Institute recently
India, World’s Largest Arms
Importer
India was the World’s largest arms importer between
2007 to 2011, according to latest data from the Stockholm International Peace
Research Institution (SIPRI) India accounted for 10% of the global arms imports
in 2007-11. SIPRI said on 19 March 2012 that the four next largest recipients
of arms in the same period were South Korea with 6%of arms tranfers, Pakistan
5%, China 5% and Singapore 4%.
India to Vote Against Sri Lanka
In UNHRC
P.M.Manmohan singh on 19 March said that India was
inclined to vote in favour of a US-sponsored resolution against Sri Lanka at
the UN Human Rights Council (UNHRC) in Geneva. As regarding the issue of a
draft resolution initiated by the United States at the on-going 19th Session of
the UN Human Rights Council in Geneva. The resolution, currently being drafted,
has two main components first, it asks the Sri Lankan Government to implement
the report of its own Lessons Learnt and Reconciliation Commission (LLRC)
,accept some kind of UN minitoring and report to the UNHRC secondly, UN
monitoring efforts are on to watering down the resolution but the Western
countries are opposed to it
Indo- Israel FTA Likely To Be
Concluded This Year
An Indo- Israel Free Trade Agreement (FTA) is
expected to be concluded this year, paving the way for further expansion in
bilateral trade between the two countries, Mr,Muneer Akbaria Consul-General,
Consulate General of Israel said that the two countries on the FTA were at an
advanced level. At present the bilateral trade between both countries is
$5billion, and is expected to rise by 60% in next two years. The new areas
identified for engagement included water technology, agriculture,
pharmaceuticals and life science. This trade meeting between both the countries
was held in Hyderabad on 19 March 2012
India To Face Sanctions By
America
Along with India and other countries importing oil
from Iran, could face sanctions by July, If it did not significantly reduce
such imports, the US State Department warned in a conference call, that if such
countries may have other kinds of sanctionable activities. The remarks raised
brows, as sanctions against countries such as India , China and South Korea
appeared more imminent and push for upping the ante against Iran through its
2012 National Defense Authorisation Act (NDAA).
India Offers LNG Gas To Pakistan
After fuel, India is going to offer LNG natural gas
to Pakistan to help the neighbouring country tide over its gas crisis. State
owned GAIL’s just commissioned natural gas pipeline from West coast to Bhatinda
in Punjab is barely 25km away from Pakistan border and the gas utility is
proposing that the line can be extended to Lahore in no time .
Iran To Import Major Farm
Commodities From India
Iran is going to import four major farm commodities
wheat,rice, sugar and tea from India. an export body,the President of the
Federation of Indian Export Organisation (FIEO) said, that Iran had signed
import contracts with India. and for also 1.25lakh tonnes of Soyameal, used as
animal feedstock. The shipment would be delivered in two months. Besides
agricultural commodities Mr. Ahmad said that the west Asian nation is also
interested in purchasing of Pharmaceuticals and auto components from India .
India, S.Korea to Have Defence
Ties
There had been bilateral ties between the India and
South Korea to boost up their economic ties in conference held in Seoul. Both
the nations had decided to step up cooperation in the defence sector, which
would include naval ship, aircrafts and ship building
Indian American In US State
Legislature
An prominent Indian American politician and Deputy
Speaker of New Jersey State Assembly, Upendra Chivukula is all set to run for
the house of Representative in the elections in November. Mr. Upendra holds the
proud distinction of being the first Indian American elected to the New Jersey
Legislature and only the fourth Indian -American to be elected to a state
legislature
Indian Exploration In Vietnam Oil
Blocks Normal
Asserting that China’s opposition to India is
undertaking oil exploration in Vietnam blocks was not in accordance with UN
norms. Vietnam said the blocks are well within its sovereign
territory.maintaining the vietnam will only explore in areas accepted by
international community and that the oil blocks that India has been exploring
is within the territory.
NATIONAL
Nine Indian Women In Forbes
Magazine
The Indian women named in Forbes Magazine’s
inaugural ‘Asia Power Businesswomen List’. The list names 50 “Path Breakers”
whose extraordinary business success is driving the region’s remarkable
economic rise.The list includes, ICICI Bank CEO& MD, Chanda Kochchar,
Bincon founder Kiran Mazumdar-shaw and film producer Ekta Kapoor, Britannia
Industries MD Vanitha Bali, HT Media chairman and editorial director Shobhana
Bhartia , A2B& Partner Founder & senior partner Zia Mody, Axis Bank CEO
& MD Shikha Sharma and Tractor & farm Equipment chairman Mallika Srinivasan.
Youngest on the list is Ekta Kapoor 36 yrs.
LIC Launches Jeevan Vriddhi
Life Insurance Corporation Of India (LIC) on 1
March 2012, launched a single premium insurance plan, Jeevan Vriddhi. This is a
single premium non-linked insurance plan where the risk cover is five times of
the premium chosen by the offers excellent guaranteed returns at maturity
Indian Men Among The Most
Dissatisfied At Work
Indian men are among the most dissatisfied people
at work across the world, according to a report by Accenture, The Path Forward-
research report stated that as much as 72% of men in India are not satisfied
with their job. Brazil tops the list with a figure of 74% men dissatisfied with
their jobs. Women cited lack of opportunities and heavy work loaded as reasons
for dissatisfaction in work, while inadequate pay was cited as the main reason
for dissatisfaction by men in their jobs. The overall job satisfaction in India
stands at 34%. over 78% Indian women proactively manage their carriers.
Base Price For Broadcast, Rised
BCCI of India had increased the base price for home
international games in the new broadcast rights, as they kept the base price at
Rs. 31.25crore plus 1crore (that is Rs. 32.25crore) for an international game
for A category. And Rs 33crore, plus Rs1crore (Rs 34crore) for a game in B
category. The basic price for games will be declared in the tenders .
Asia’s Richest Man
Asia’s richest man was Hong Kong’s Li ka Shing
stood top with worth of 25.5billion, in second richest Asian on the
Forbe’s list in India was Mukesh Ambani with 22.3billion.
India To Spread A Multi Modal
Transportation Network
India is making a concerned push into Central Asia
by taking charge of a crucial transportation network through Iran into Central
Asia and beyond. 14 stakeholder countries in the region in January, experts
from all countries will meet in New Delhi on 29 March to put final touches to
the project known as the” International North-South Corridor” .The project
envisages a multi modal transportation network that connects ports on India’s
West coast to Bandar Abbas in Iran than over land to Bandar Anzali port on the
Caspian sea, thence through Rasht and Astava on the Azerbaizer border onwards
to Kazakhstan and further onwards towards Russia. Once completed this would
connect Europe and Asia , which serves economic and strategic interests of all
states concerned
Tata Steel Topped The List Of
Most Admired Indian Brand
A survey conducted by Fortune India and Global
Management Consultancy Hay Group, which was released on 13 March 2012,
revealed that Tata Steel as the most admired brand in India. Several factors
corporate, governance and financial make this brand in top most.
55.5% New Cases Of Leprosy
Recorded In India
According to the Government, about 55.5% of new
leprosy cases were identified in 2010 in India. Minister of Health and Family
welfare Ghulam Nabi Azad said that, of the total 2,28,474 new leprosy cases
detected World wide in 2010, India contributed 1,26,800 cases which is about
55.5% of the global disease burden. The minister is now concentrating on
achieving elimination of leprosy at district level during the 12th plan(
2012-17)
112 Government Websites Hacked
Government websites are turning out to be soft
targets for hackers. In the last three months alone more than 112 websites,
including the planning commission, the finance minister and Government agencies
were hacked. Minister of state for communication and IT Sachin Pilot declared.
Indian Rotocraft to be Produced
Near RGIA
Indian Rotocraft, a joint venture of Tata sons and
Augusta Westland, had decided to set up a facility near the Rajiv Gandhi
International Airport (RGIA) here to assemble, customise and flight -test
helicopters for World wide markets. The joint venture, with capacity of 30
units a year, will initially start producing the 8 seat AW119ke light
helicopter with production expected to be from the middle of next year. This is
the second chopper producing facility in city after Tata -Sikorsky joint
venture
5 Crore People Moved Out Of
Poverty- Govt
Data released by the Planning Commission of India
on 19 March 2012 showed that poverty had significantly declined between 2004-05
and 2009-10. The new estimates are based on a poverty line that averages
Rs.672.8 per month (Rs 22.43 per day) in rural areas and Rs 857.6 per month( Rs
28.65 per day in urban areas for 2009-10. Poverty down by 7.3% points to 29.8%
in 2009-10 from 37.2% in 2004-05. Rural poverty declined faster down 8%points
to 33.8% from 41.8%.
Woman Share In Husband’s Property
After Divorce
Making amendment in Marriage Act for women, the
Union Cabinet on 23 March 2012 approved a Bill seeking to give a woman share in
her husband’s property after divorce. The quantum of share however will be
decided by the courts on a case by case basis, while a wife can oppose a
husband’s plea for divorce, but husband will have no such rights to oppose if
the wife moves the court on the same. Apart from this it also aims at giving
equal rights to adopted children on a par with biological off-spring in case
the parents go for divorce.
Nation’s First Vaccine Park
The Finance Minister had given its approval to set
up the country’s first integrated vaccine park. The Rs. 594crore park spread
over 100 acres at Chengalpattu near Chennai will produce, all six primary
vaccines used in the country’s Universal Immunization Programme (UIP), besides
manufacturing several new generation vaccines.India’s UIP is one of the largest
in the world that targets 2.7crore infants and 3crore pregnant women every
year. the main intention was to establish vaccine security in India.
NTPC Board Approved Rs.
17,000crore Investment In Projects
The National Thermal Power Corporation Ltd (NTPC)
board on 30 March 2012 approved an investment of over 17,000crore rupees in two
power projects in Maharashtra. The projects would have a total generation
capacity of 2540mw. The NTPC board approved the investment for the Mouda Super
Thermal Power project and Solapur Super Thermal Power project.
IRDA Notified Revision Of Premium
Rates For Motors
The Insurance Regulatory and Development Authority
of India (IRDA) notified in March 2012 that premium rate for motor third party
liability only cover will undergo an upward revision bringing 1 April 2012.
IRDA listed the third party liability premium rates for vehicles of assorted
categories. The premium rates calculated on the basis of a specified formula is
to be notified every financial year by the IRDA. The ratio for 2012-13 were
calculated by using the average growth rate in severity assuming that the
average frequency remains instant.
SEBI Decided Guidelines For
Algorithmic Trading
The securities and exchange board of India (SEBI)
on 31 March 2012 issued board guidelines on algorithmic trading based on
recommendations of technical advisory committee and secondary market advisory
committee (SMAC) SEBI decided to enforce board guidelines for algorithmic
trading in the securities market. The market regulator decided stock exchanges
to undertake system up gradation, including periodic up gradation of its
surveillance system so as to keep pace with the speed of trade and volume of
data that may rise through algorithmic trading.
Infosys Co- Founder Narayana
Murthy Named In The Fortune List
Infosys co- founder N.R.Narayana Murthy got his
name figured in the list of 12 greatest entrepreneurs of our time. The list
published by the Fortune magazine on 28 March 2012 was prepared considering the
economic and social impact and world changing vision of entrepreneurs other
famous personalities who got their names included in the list are Steve Jobs of
Apple, who topped the list, Bill Gates in second and followed by Fred Smith
Union Cabinet Approved Credit
Risk Guarantee Fund Trust
The Union cabinet on 23 March 2012 approved the
setting up of a credit guarantee fund trust with an initial corpus of Rs
1200crore to with an objective to encourage housing for low- income groups in India.
The scheme will work on the key principle that the lender shall secure loans to
construct and upgrade low income housing purely on the assets financed, without
any other collateral. The trust is to be set up under the Indian trust Act and
the Ministry of Housing.
IIT Madras Students To Sign
“Honour Code”
In a first of this kind move, over 7,000 Madras IIT
students studying various courses & staying in 17 hostels decided to sign
an Honour Code. The honour code makes students take a written pledge that they
would attend classes regularly, study well, be friendly with others, maintain
personal hygiene and cleanliness. This will bring a sense of accountability
among students and it will also deal with how they go about acquiring
knowledge, besides their behaviour inside the campus.
STATES
Hyderabad City Aims To Set Record
With Sky Lanternns
On 25 March, the Hyderabad city sky would be lit-up
with thousands of sky lanterns, just like that sense out of the popular
animated movie Tangular, when the maiden Hyderabad sky lanterns festival gets
under way at Gachibowli stadium. The event is also an attempt to make it to the
Guinness Book Of Records. And break the current record for the most number of
sky lanterns recorded is 10,000 plus accomplished in Indonesia in 2009. To
break that record 8,000 people participated in flying 12,000 lanterns at Hitek
in Hyderabad .and a New Guinness World Record has been created at last.
Bangalore City Station Boost Of
BluFi
The Bangalore city Railway Station on 2 March 2012
became the first in the railway network to offer Blu-Fi, combination of
Blu-tooth and Wi-Fi that will provide passengers with a wealth of information
.The facility was launched by Railtel corporation of India in collaboration
with TeleBrahma. Bangalore being India’s IT capital, it deserves to be the
first in the country to offer the facility.
Uttarakhand Became The Ninth
Indian State For e-Stamps
Uttarakhand Government on 2 March 2012 introduced
e-stamping in the state, which would ensure a secure way of paying non-judicial
stamp duty to the Government. Uttarakhand is the ninth state in the country to
implement the stamping service. In the first phase, e-stamping is set to be
introduced in the four districts of Dehradun, Haridwar,Udhamsingh nagar and
Nainital. e-stamps would be sold through the branches of Punjab National Bank
in these districts.
New CM for Punjab, Uttarakhand,
Uttarpradesh.Goa and Manipur states
Akali dal leader Mr. Parkash Singh Badal had been
appointed as the new chief minister for Punjab for the second time.Vijay
Bahuguna, a high court retired judge had been appointed as chief minister of
Uttarakhand by the Congress party.and Akilesh yadav had been elected as the new
chief minister of Uttar pradesh.Okram singh Ibobi was appointed as the new
chief minister of Manipur for the third time after the congress won elections
in the state. And Mr. Manohar Parrikar was appointed as the chief minister of
Goa state.
T.N To Move For Kudankulam
Project
Tamil Nadu Chief Minister Jayalalitha on 19 March
2012 solved to take steps for the early commissioning of the nuclear plant in
Kudankulam. The cabinet also decided that a Rs 500crore package of development
works should be taken up in Kudankulam with regards to the local fishermen’s
welfare
IOCL To Set Up LNG Terminal In
Chennai
Indian Oil Corporation Ltd had signed an agreement
with the Tamil Nadu Industrial Development Corporation for setting up of 4,500crore
LNG terminal in Chennai.
Four States Signed For MoU
Four states namely Jharkhand, Mizoram, Sikkim and
Lakshadweep on 16 March 2012 signed MoU with the Ministry of Statisitics and
Programme Implementation under the Indian Statistical Strenghthening Project
(ISSP) for the states and Union Territories.
CONFERENCES
The 50th Anniversary Celebration
of (AARDO)
The Prime Minister Manmohan Singh has inaugurated
the 50th anniversary celebrations of Afro Asian Rural Development Organisation
(AARDO) on 5 March 2012 in New Delhi. The members of the countries to work
together and to build a favourable international regime axis funds and green
technologies for rural growth. This organization consists of 15 African and 14
Asian countries
International Conference of BRICS
Delegates from Russia, China and South Africa
arrived at the International conference on New World Economic Order organised
at Gitam University in Visakhapatnam on 10 March 2012. BRICS was firmly
committed to the common interests of the countries and strengthens the role of
emerging markets and developing countries in global economic governance
Turkey World Trade Bridge
Business Summit
A seven days Turkey World Trade Bridge
International Business Summit is going to be organized by the confederation of
Businessman and Industrialists of Turkey (TUSKON) and the Indo-Turkish Business
Association (ITBA) from 3 June to 10 June 2012 in Istanbul. More than 15
Hyderabad businessmen are expected to participate in the summit. The envoy said
that Turkey was also seriously pursuing a free trade agreement (FTA) or
economic partnership agreement (EPA) with India to accelerate bilateral trade
that hit a historic high of $7billion last year.
World Telugu Conference At
Thrirupati
The Andhra Pradesh state Government had decided to
conduct the third Telugu Conference in December in Thirupati as proposed
earlier. The previous conference, which held at Hyderabad and Kuala Lumpur
which focused mainly on Telugu language and culture. The meet would be
highlights the strides made by the Andhra Pradesh over the years.
Two days 2nd Nuclear Security
Summit In Seoul (NSS)
Prime Minister Manmohan Singh has taken part at the
two days Nuclear Security Summit that will be attended by 53 leaders and five
international organisations, which held at Seoul in South Korea. The meeting
will discuss the threats posed by the nuclear terrorism and the measures
required to prevent terrorists from gaining access to sensitive nuclear
material & technologies, calling Nuclear terrorism as one of the most
challenging threats to international security, the 2012 Seoul Nuclear Security
summit had outlined a number of steps the world should take to secure
vulnerable nuclear material.
All countries should sign up to international
treaties on nuclear security like the Convention on the Physical Protection of
Nuclear Material ( CPPNM), its 2005 amendment and the international convention
for the suppression of nuclear terrorism.
Countries with resources should contribute more to
the IAEA’s Nuclear security fund
Countries should minimize the use of highly
enriched uranium (HEU) for civilian purposes
Countries should secure all radioactive
sources
Nuclear safety and nuclear security measures should
be designed, implemented and managed in nuclear facilities in a coherent and
synergistic manner
Countries should consider appropriate plans
for the management of spent nuclear fuel and radioactive waste
Action oriented coordination to combat illicit
trafficking urged on all, consistent with national laws and regulations
Countries should work with one another to develop
and enhance nuclear forensis capabilities
Countries encouraged to develop a nuclear
security culture
Attention must be paid to information security,
preventing non-stake actors from obtaining information required to get or use
nuclear materials as a weapon or to hack into IT-based security and safety
systems at nuclear facilities
World Summit On Accreditation
India, the independence accreditation agency
organized its 1st world summit on Accreditation from 25 -28 March 2012 in New
Delhi.( WOSA )world summit on Accreditation would bring together Indian and
global leaders in Technical, professional education, educational
Administration,Policy makers and regulatory bodies, corporate and Industry
.WOSA- 2012 has been inaugurated by the Honourable union minister for education
Mr.Kapil Sibal.
23rd Arab Summit In Baghdad
The 23rd Arab summit was held on 29 March 2012
Baghdad, half of the Arab world’s 22 heads of states had to meet for the summit
in former president Saddam Hussain’s palace, but only few leaders gathered. It
was the first summit to be held following the people’s power movement. Syria’s
crisis topped the agenda for the Arab summit and discussed about the turmoil in
Iraq’s .
“Indian Aviation 2012″ At
Hyderabad
The international exhibition-cum conference “Indian
Aviation 2012″ held at Hyderabad from 14-18 March 2012. A special postal stamp
was released on the eve of completing hundred years of Indian Aviation
Two-Day National Agricultural
Conference
Two-day national agricultural conference held at
New Delhi. Eminent scientist and higher authorities from all over the country
participated in this conference
The Fourth BRICS Summit
The fourth BRICS summit was held in New Delhi on 29
March 2012, the theme of the summit was BRICS partnership for global stability,
security and prosperity. At the end of the summit a draft was
released as ‘ Delhi Declaration’. In that declaration the BRICS countries
decided to work together on internal trade in local currencies and to establish
BRICS bank. The president of Brazil, Dilma Rousseff, The president of Russia
Dmitry Medvedev, The Prime minister of India, Manmohan singh, The
president of China Hu Jinton and President of South Africa, Jacob Zuma were
participated in the summit.
AWARDS & HONOURS
Chinese Architect Bags Pritzker
Prize
For the first time Pritzker Architecture Prize,
considered as the Nobel Prize in architecture, had been awarded to Wang Shu a
Chinese, for ” producing an architecture that is time less “, deeply rooted in
the context and yet universal. The Prize includes a $ 100,000 grant, a citation
certificate and a bronze medallion
MANNU To Honour, Gulzar, Former
Chief Justice
Filmmaker & Lyricist Gulzar and former chief
Justice of supreme court A.M Ahmadi along with two other eminent personalities
would be honoured with D.Lit (Honour’s Causa ) by the Maulana Azad National
Urdu University (MANNU) during its fourth convocation on 3 March 2012.
Sahitya Akademi Prize For Young
Writer
V.Gangadhar, an upcoming telugu writer of
Rayalaseema had received the Sahitya Akademi Yuva Puraskar for the year 2011,
for his compilation of short stories “Molakala Punnami”
101 Years Old Woman Set World
Record
A 101 years old Mary Hardison, Utah woman is being
honoured with a world record for a Paraglide Ride and entered into Guinness
Book of World Records. The previous record was set by 100 years woman
59th National Film Awards
The 59th National awards had been announced on 7
March 2012 in New Delhi.
Best Feature Film -’ Del’ (Marathi) and ‘Byari’
(Karnataka)
Best Actor- Girish Kulkarni
Best Actress – Vidya Balan ( The Dirty Picture)
Best Editing – Pravin K.L (for Aranyakandam)
Best Special Effects – Ra.one
A.P Woman Gets Sthree Shakti
Puraskar
President Pratibha Patil had presented the Devi
Ahilyabai Holkar Award to Hypno Padma Kamlakar from Andhra pradesh during the
Sthree Shakti Puraskar 2011 in New Delhi held on 7 March 2012.
International Women of Courage
Awards
On March 8 2012 International Women’s Day Secratory
of states Hillary Clinton and first lady Michelle Obama honoured 10 women from
around the world.
Shad Begum of lower Dir women of Pakistan received
the 2012 international women of courage award for bravely working for women in
a deeply conservative areas
Afghanisthan provincial council woman Maryam
Durani, for her works towards economic equality
Saudi Arabia’s Samar Badawi for her work preparing
legal challenges to law restricting women’s rights to many works
Brazil’s police Major Pricilla De Oliveira Azevedo
for working to improve health care & education
Myanmar’s political activist Zin MarAung to promote
democracy & the right of ethnic minorities
Turkish Parliamentarian Safak Pavey for promoting
the rights of the physically disabled women & minorities
Maldives Aneesa Ahmed for eliminating domestic
violence
Libya’s Hana El Hebshi for helping properly
document the violence of her country’s resolution
Colombian Jineth Bedoya Lima in pushing for Justice
in unsolved case of sexual and gender based violence
Sudan’s Hawa Abdallah Mohammed Salih for defending
the rights of differences and in particular rights of women & children
Kuchipudi Dancer Anjana In Indian
Book of Records
Ajana Thomas , an eight class student had entered
the Indian Book of Records by performing Kuchipudi dance from Timmapur in
Dubbak mandal to Siddipet on 12 March, walking the dance which began at
5am, completed at 1 pm
Indian American Wins Science
Talent Search
An Indian-American teenager Nithin Reddy Tumma
topped the Intel Science Talent Search and also two other Indian Americans Neet
Patel from Florida, Anirudh Prabhu from Indiana had been in the top.Tumma had
won the prestigious Science Talent Competition in the US for his research on
devising a more effective and less toxic breast cancer treatment.
Chameli Devi Jain Award
Chameli Devi Jain Award for 2012 was awarded to
Tusha Mittal on 13 March 2012 in New Delhi for her outstanding women
mediaperson for reporting of life in the raw at the margins in deep interior
states like, Bengal, Orissa and Chhattisgarh
Dr. Burgula Award For Babu Rao
Varma
Freedom fighter and former member of National
Commission for Backward Classes, B.Babu Rao Varma was awarded with Dr. Burgula
Ramakrishna Rao, who was the first Chief minister of Hyderabad state . this
award was given on 14 March 2012 by the state Government.
NTR Award For Sharada
Veteran actress Sharada had been awarded the NTR
National Award for the year 2010 which was announced by the state Government of
Andhra Pradesh on 19 march 2012
Indian NGO Selected For US Award
An Indian NGO, Chintan had been chosen for American
first innovation awsrd for the empowerment of women and girls, for training and
organizing waste pickers and eliminating child labour from recycling
Gram Ratna Award For Andhra
Pradesh
Kotala Gram Panchayat of Chandragiri Mandal,
Chittoor district of Andhra Pradesh had won the Central Government Gram Ratan
Award. It has won the award for showing the best results in the development of
Panchayat.
Hungarian Mathematician Gets 2012
Abel Prize
The prestigious Abel Prize of the Norwegion Academy
of Science and Letters for the year 2012 had been awarded to Hungarian
Mathematician Endre Szemere’de of the Alfred Renyi Institute of Mathematics,
this award was given for his fundamental contributions to discrete mathematics
and Computer science
Phalke Award For Soumitra
Chaterjee
Veteran Bengali actor, Soumitra Chaterjee has been
honoured with the Prestigious Dadasaheb Phalke award for lifetime contribution
to Indian cinema.
Bangladesh Govt To Honour 47
Indian’s
The Bangladesh Government has decided to honour 132
foreign leaders, intellectuals, cultural personalities and organisations who
helped in the country’s Liberation war of 1971. The list of people to be
honoured includes 47 Indian’s. The honour was conferred on 27 March 2012. The
Indian’s who has been awarded include Sachindra lal singh, Rajeshawar Rao,
Siddhartha Shankar Ray, P.A Sangma, Justice Sadat Abul Masual, Dr. Karan singh,
Maharani Biva Kumari Devi, Field Marshal Sam manekshaw, Lt Gen Jagjit singh
Aurora, Lt Gen Jacob, Lance Nayek Albert Ekka.
Tamil Writer To Honour With
Saraswati Samman
The K.K Birla Foundation announced on 22 March
2012, its decision to honour Tamil writer A.A.Manavalan with the 21st Saraswati
Samman for his book on Ramayana.
Dalai Lama Winner Of World’s
Leading Religion Prize
The John Templeton Foundation on 29 March 2012
decided to honour Tibetan Buddhist Spirutual Leader, the Dalai Lama with one of
the world’s leading religion prizes called , ‘Templeton Prize’ for 2012. The
Buddhist leader who lives in exile in India had won the Nobel prize in
recognition of his work on science & religion. The Templeton prize to be
presented to him on 14 May 2012 at St. Poul’s Cathedral in London is a
$1.7million award.
SPORTS & GAMES
Lahiri Qualifies For British Open
Golf
India will have a representation at the British
Open after two years, as the Anirban Lahiri shot a final round five under-par
67 had won the top honours at the International Final Qualilfy (IFQ) on 2 March
2012 in Chonburi. The open championship will be played at the Royal Lytham St.
Annes from 19 to 22 July 2012. .
Bhupathi-Bopanna Wins Dubai
Doubles Finals
The Indian pair Rohan Bopanna & Mahesh Bhupathi
had won the doubles finals of the Dubai tennis Championships held in Dubai by
defeating Mariusz Fyrstenberg and Marcin Malkowski. It was the fourth Dubai
title for Bhupathi, and sixth title for Bopanna.
Roger Federer Wins Single men’s
Dubai Tennis Championship
Roger Federer of Switzerland had won the single
men’s Dubai tennis championship by defeating Andy Murray of Britain held on 3
March 2012 in Dubai for the fifth time . It was the 72nd title for Federer
Indian Women Wins Kabaddi World
Cup
India clinched the first women’s kabaddi world cup
championship title by defeating Iran by 25-19 in the final played at Patliputra
in Patna on 4 March 2012.
Irishman became The World No.1 In
Golf
Rory Mcllroy, a Northern Irishman who won the US
PGA tour’s Honda Classic on 4 March 2012, to be the golf’s world number one
ranking after defeating Tiger Woods former world’s no -1.
Anderson Wins Delray Tennis
Championship
South African Kevin Anderson beats Aussle Qualifier
Marinko Matosevic on 4 March 2012 and won the ATP Tour’s Delray Beach
International Tennis Championship Title held in Johannesburg. This is the
second career title for Anderson.
Justin Rose Wins The Cadillic
Golf Championship
Justin Rose had won the Cadillic Championship Golf
title on 11 March held in Miami and defeated Bubba Waston . Rose captured his
10th global title and his first in an elite world golf championship
Women Doubles All England Title
For Chinese
World no-2 Tian Qing & Zhoe Yun Lei of China
had won the Women’s Doubles All England championship title for 2012 by
defeating world no-1 Wang Xiaoli & Yu Yang held at Britain on 11 March
2012.
Men’s Doubles All England Title
For Korea
World’s no-2 Jung Jae Sung and Lee Yong Dae of
Korea had won the Men’s doubles All England Championship for 2012 by defeating
world’s no-1 Cai Yun and Fu Haifeng of China on 11 March 2012 held in Britain.
Chinese Lin Dan Cliams All
England Title
Chinese Lin Dan had won his fifth All England Open
men’s single championship title on 11 March 2012 by defeating Lee Chong Wei
held in Britain
Li Xuerui Won Women’s All England
Single Title
Chinese Li Xuerui had won the All England Open
Women’s single championship title on 11 March 2012 by defeating Wang Yihan of
China held in Britain
Sachin’s Century of Centuries
Sachin Tendulkar’s incredible cricket journey
reaches a momentous destination at Mirpur in Dhaka on 16 March 2012. The master
hero of cricket became the first cricketer to make up 100 international
centuries. This hundreth century was scored against Bangladesh in the Asia Cup ODI
Tournament. The 38 years old Tendulkar had made a magical collection of 51
tests matches and 49 ODI hundreds, he made his 99th century against South
Africa in Nagpur on 12 March 2011.
Saina Retains Swiss Open Crown
Saina Nehwal had won her first title of the season,
she retained the Swiss Open Grand Prix Gold Trophy with straight game victory
against China’s Wang Shixian, World no. 5 in the summit clash at Basel,
Switzerland on 18 March 2012.
Kenyan Wins Seoul Marathon
Kenyan Rookie Wilson Loyance Erupe ran to a
surprise victory on 18 March 2012 in the Seoul Marathon, by setting a new
record. The 24 years old crossed the finishing line in 2 hours five minutes 27
seconds breaking the previous record of 2 hours six minutes 49 seconds set by
SylvesterTeimet in 2010
McLaren’s Wins The Australian
Grand Prix Racing Championship
McLaren’s Jenson Button had won the Australian
Grand Prix Openig Race Championship on 18 March 2012 held at Melbourne. This
was his 13th career victory
Donald Wins US PGA Golf
Luke Donald of England reclaimed the World no-1
ranking by defeating Rory Mcllory by winning the US PGA Transitions
Championship on 18 March 2012 in Palm Harbour, Florida
Victoria Azarenka Wins The BNP
Paribas Women’s Title
Victoria Azarenka of Belarusian World no-1 ranked
had won the BNP Paribas Women’s Open Single title at Indian Wells in
California, defeating Maria Sharapova world’s no-2 on 19 March 2012 .It was
just two months after Victoria had won the Australian Open title and this was
her fourth title of the year
Federer Win’s The BNP Paribas
Men’s Title
Switzerland’s Roger Federer had won the men’s
single title in the BNP Paribas Open Tennis tournament at the Indian Wells in
California by defeating John ISner of US on 19 March 2012
Spanish Duo Wons Doubles Title
Spanish duo of Rafael Nadal and Marz Lopez had won
the Men’s Double Title in the BNP Paribas by defeating the American pair of
John Isner and Sam Querrey on 18 March 2012
American Pairs Wins Women’s
Doubles Title
The American pair of Lisa Raymaond and Leizel Huber
had won the Women’s Double Title of BNP Paribas at the Indian Wells in
California.
A.P Archer To Represent India At
World Cup
Jyothi Surekha from Andhra Pradesh Volga Archery
Academy Trainee, after bagging hat rick of medals in the National Archery
events, had made her way into the Indian Compound Women’s team for the World
Cup (stage I) to be held at Shanghai (China) from 10 to 15 April 2012.
Pakistan Wins Asia Cricket Cup
Finals
Pakistan had won the Asia Cricket Cup by defeating
Bangladesh by two runs in Dhaka on 22 March 2012
Eight Medals For India In Nepal
Indain weight lifters had won ten medals, including
eight golds in the inaugural of South Asian Weightlifting Championship
held at Nepal
Mary, Saritha Win Gold At Asian
Championship
Five time world champion M.c Mary Kom and L.Sarita
Devi on 25 March 2012 won gold medals in the sixth Asian Women’s Boxing
championship in Ulaanbaatar in Mongolia. Mary defeated world champion Ren
Cancam of China, while Sarita defeated Chorieva Mavzuna of China
Alonsa Wons The Malaysian GP
Spain’s Ferrari Fernando Alonsa, a two time world
champion had claimed his first victory in eight months by winning the Malysian
Grand Prix at Sepang in Malaysia .
Indo, Czech Pair Wins ATP Miami
Doubles Title
Indo, Czech pair of Leander Peas and Radek Stepanek
claimed the doubles title of Miami Masters on 31 March 2012. Peas by winning
the Miami title took the total number of his career titles to 50. The pair had
defeated the world no-1 pairing of Americans Bob and Mike Bryan held at
Florida.
Radwanska Wins ATP Women’s Single
Title
Agnieszka Radwanska on 31 March 2012 defeated
Russian tennis star Maria Sharapova to clinch ATP Miami Masters Women’s Single
title held in Florida.
ECONOMY
Country’s First Infrastructure
Debt Fund Launched
Four banking and financial services giants ICICI,
LIC,Citicop Finance and Bank of Baroda on 5 March 2012 joined together to
launch India’s first Infrastructure debt fund (IDF) to be structured as a non-
banking finance company. This (IDF) was signed in the presence of the finance
minister, Mr.Pranab Mukerjee. The company will have initial equity share of Rs
capital of 300 crore
Brazil Economy Overtakes UK
Brazil claimed that the UK’s spot as the largest
economy globally, after official figured its economy rose by 2.7% last year
against the UK’s 0.8%. France remains in fifth place behind Germany, Japan,
China and the US. The per capita income of Brazillian’s is at $11,000 per head.
RBI Cuts CRR By 75 bps
The Reserve Bank Of India on 9 March 2012, cut the
cash reserve ratio by 75 basis points. The move to cut the amount of cash that
banks need to perk with RBI was from 5.50% to 4.75% of deposits is aimed at
easing the persistent liquidity crunch being faced by banks
World Bank Okays $ 50 million
Credit For Assam
The World Bank has approved a $50-million
additional credit for an ongoing agricultural project in Assam. The Assam
agricultural competitiveness project aims at the increasing the productivity,
profitability and market access of the farming community in the state.
Indian Railway Budget 2012-13
The Indian Railways run the fourth largest railroad
network in the world spread over some by 64,000km, with 12,000 passengers and
7,000 freight trains each day from as many as 7,083 stations to carry 23million
travellers and 2.65million tonnes of goods. Former Union Railway Minister
Mr. Dinesh Trivedi, who presented his Railway Budget for the financial year
2012, had proposed 8.33% raise to improve the state of rail finance.
Railways plan to barrow Rs. 15,000crore from the
market.
Gross rail traffic targeted to increased by
Rs.28.635crore to Rs. 1,32,552crore in 2012-13.
To hire more than one lakh persons in 2012-13.
All unmanned level crossing to be abolished in the
next five years.
2paise per km for subarbun and ordinary second
class, 3paise per km for mail-express second class, 5paise per km for sleeper
class, 10paise per km for AC chair car, AC 3tier and first class, 15paise per
km for Ac 2 tier 30paise per km for AC1 tier.
Minimum fare and platform ticket to cost Rs. 5
75 new express trains to be introduced, along with
21 new passengers services, nine DEMU services and eight Memu service trains.
Outlay of Rs.60,100crore during 2012-13
Passenger earning to increase to Rs. 36,200crore.
Indian Railway Station Development Corporation to
be set up to redevelop stations and maintain them like airports.
The open discharge toilets on trains to be replaced
with green toilets.
Double decker container trains to be introduced.
Steps to improve cleanliness and hygiene on trains
and stations.
A special house keeping body to be set up to take
care of both stations and trains.
To set up an independent Railway Safety Authority
as a statutory body.
On-board passengers displays indicating the next
halt station and arrival time to be introduced.
Introduction of regional cuisine, book a meal
scheme to provide meals through SMS.
Specially designed coaches for differently disabled
persons to be provided in each mail and express trains.
Stress on strengthening safety.
Signalling to be improved over 19,00km more
To provide rail connectivity to neighbouring
countries.
World Bank Approves $4.3billion
Aid To India
The World Bank had announced $ 4.3billion financial
aid to India through a new innovative and flexible financing arrangement to
help the country to fight against poverty. This arrangement, while facilitating
a $ 4.3billion increase in support to India’s, is designed to maintain
International Bank For Reconstruction and Development (IBRD) .Which is lending
its arms net- exposure within the limit of $ 17.5billion established by it.
Economic Survey 2011-12
The Economic Survey by the Union Finance Minister
Pranab Mukherjee on 15 March 2012. Indian economy was estimated to grow by 6.9%
in 2011-12, mainly due to weakening industrial growth. The survey state that
despite dip in the economic growth India remains among the fastest growing
economies of the world country’s sovereign credit rating was stated to have
risen by a substantial 2.98% in 2011-12. The economic survey stressed the need
for fiscal consolidation to tame inflation. The survey estimates the economy to
grow at 7.35% to 7.85%, during 2012-13 against 6.9% in the current fiscal year
GDP growth rate pegged at 6.9% this fiscal, for
2012-13 7.6% and for 2013-14 at 8.6%.
Agriculture growth forecast at 2.5%
Service sector grows by 9.4%, its share in GDP rises
to 59%.
Industrial growth pegged at 4.6%, expected to
improve and performed poorly a share of 27% of the GDP.
Inflation to low down by year end, fiscal
consolidation on track- saving and capital formation expected to rise.
Exports grew at 40.5% in the first half of current
fiscal and imports grew 30.4%.
Forex reserves rise to nearly to cover the entire
extended debt stock.
Central spending on social services hiked to 18.5%
this fiscal .
MNREGA coverage rises to 5.49crore household in
2010-11
Sustainable development and climate change concern
high on priority.
Overall growth during April-December 2011 reached
3.6% compared to 8.3% in the corresponding period of the previous year.
Union Budget 2012-13
Union Finance Minister Pranab Mukharjee on 16 March
2012, announced the union budget in the parliament for the financial year
2012-13. Mukharjee, who presented the fourth annual budget seemed to focus on
the recovery of the domestic economy. The budget 2012-13 aims at achieving the
rapid growth for the economy which remained on a downward all through out the
fiscal year 2011-12. The budget estimated the Indian economy to grow at 7.6% in
the fiscal year 2012-13.
Highlights of the budget 2012-13
Total expenditure in 2012-13 seen at 14.9trillion
rupees, up by 29%
Plan expenditure budgeted at 521.25billion rupees
in 2012-13, up by 18%
Economy expected to grow at 7.6% in 2012-13, plus
or minus 0.25%
Income tax exemption limit raised to 2 lakh rupees
from 1,80,000 rupees
Fiscal deficit seen at 5.1% of GDP in 2012-13
Net market borrowing seen at 4.80trillion rupees in
2012-13
Proposes to raise service tax rate to 12% from 10%
Gross tax receipts seen at 10.8trillion rupees in
2012-13
Non tax revenue seen at 1.64trillion rupees in
2012-13
Proposes to levy tax on all services expect 17
items in the negative list from 2012-13
No change in corporate tax rates
Signs of economy turning around in March quarter
Allow external commercial borrowing of upto
1billion dollar to raise working capital for airlines industry for 1 year
To allow qualified foreign investors in Indian
corporate debt markets
To allow external commercial borrowing to part
finance rupee debt in power projects.
To award contracts to build 8.800km of roads in
2012-13
Allocate 1.94trillion rupees for defense in 2012-13
up from 1.64trillion rupees for defense in 2011-12
Government doubles allocation for tax free bonds to
600billion rupees for financing infrastructure projects 2012-13
Disinvestment target in 2012-13 of 300billion
rupees
Expects country to become self sufficient in urea
production in five years.
Proposes to raise agricultural credits targets in
2012-13 to 5.75trillion rupees
To keep 2012-13 subsides under 2% of GDP
To inject 159billion rupees to capitalize state run
banks in 2012-13
Current account deficit seen at 3.6% of GDP in
2011-12
How India Compares To Other
Countries
India fares favourably on the income inequality
front when compared to other countries measures in terms of Gini Coefficient on
scale of 1 to 100. India ranks better than China and the US on the income
inequality front, it ranks on par with Japan and below UK on the front, with a
score of 66.9. For wealth inequality, it only lags behind the US and UK, where
the wealth is distributed unequally. India has managed to be the second fastest
growing economy in the world next to China with 6.9%.
India & The World Bank Signed
An IDA Credit of $152million
India and the World Bank on 21 March 2012 signed an
IDA credit of 152million US dollars to finance the Indian Government’s efforts
to help and improve the efficiency, equality and accountability of health
services in Uttar pradesh. The project will include two main components first,
it will focus an improving the department of health’s management and
accountability system. Th project will seek to improve, planning capacities,
information flows and data inputs to enable policy-makers to improve monitor
and manage service delivery in U.P, Secondly, the project will help the state
Government to improve the department of health’s capacity to perform its
quality assurance role and manage more effectively with private sectors.
World Bank Approves $500million
For Secondary Education Project
In a progress to make quality education accessible
to young people at the secondary level, the World Bank had approved $500million
credit to support Indian’s secondary education project. The project will give
support to all activities as envisioned in the $12.9billion Rastriya Madhyamik
Shiksha Abhiyan (RMSA) programme.
Interest Rates, High of 0.5% On
Post Office Operated Small Saving
The Union Government on 26 March raised interest
rates on post office operated small savings like Monthly Income Scheme (IMS)
and Public provident Fund (PPF) by 0.5% Interest rates on term deposits of one
or two years were increased by 0.5% each to 8.2% and 8.3%, while rates for
popular (MIS)were increased by 0.3% to 8.5%. The new rates will be effective
from 1 April 2012 and will valid during 2012-13
World Bank Approved 109million
Dollar Grant For (RACP)
The World Bank on 28 March 2012 approved a
109million dollar-grant fund to Rajasthan Agriculture Competitiveness Project.
The project is aimed at promoting water efficient agriculture through
sustainable and efficient use of resources in Rajasthan. The project is likely
to benefit about 1,55,000 farmers mainly those with small land holdings in the
state the project in line with the stake water policy of 2010 will help farmers
more from low value and water -gazzling crops to high value farming.
SCIENCE & TECHNOLOGY
Thickest Arctic Ice Melting
Faster
The oldest and thickest Arctic sea ice is
disappearing at a faster rate than the younger and thinner ice at the edges of
the Arctic Ocean’s floating ice cap, NASA had revealed that the thicker ice
known as multi year ice survives through the cyclical summer melt season, when
young ice that had formed over winter season just as quickly melts again.Arctic
ocean where multi year ice covers at least 15% of the ocean surface, is
diminishing at a rate of 15.1% per decade.
Ocean’s Turning Acidic At Fastest
Pace In 300m yrs
The world’s oceans are turning acidic at, what
could be the fastest pace of anytime in the past 300million years, even more rapidly
than during a monster emission of planet- warming carbon 56million yrs
ago. Quickly acidifying sea water eats away at coral reefs, which provide
habitat for other animals and plants and makes it harder for mussels and
oysters to form protective shells.
5 Places Where Life May Exist In
Solar System
Life on Earth occupies some bizarre places from
deep sea hydrothermal vents to frigid and lightless lakes. According to the
Christain Science Monitor the following are the five places where life may
exist. Mars-The red planet which had abundant surface water could microbes lurk
under ground. Europa-With rocky cores heated by tugs from Jupiter. Enfolds –
This icy moon of Saturn also has subsurface deposits of liquid water. Titan –
Saturn’s largest moon has lots of hydrocarbons as raw material for biologically
improvement molecules. Venus – Its a long shot with its crushing atmosphere and
surface temperature that would melt lead.
Oxygen Found On Saturn Moon:
Dione
Planetary Scientists claims for the first time that
the presence of oxygen in the atmosphere of Saturn’s moon, Dione . An
international lead by Los Alamos National Laboratory had said that it had
discovered molecular oxygen ions in the upper most atmosphere of Dione, one of
the 62 known moon’s orbiting Saturn. The tiny moon is a mere 700 miles wide and
appears to be a thick pockmarked layer of water ice surrounding a smaller rock
core, as it orbits Saturn every 2.7 days.
US Tests Railgun That Can Shoot
160 km
The US Navy is one step ahead in developing a
futuristic supersonic weapon capable of firing missiles between 80km to 160km
at seven times the speed of sound. The 40 feet long electromagnetic railgun
consists of parallel rails and uses a magnetic Field and electric current,
instead of chemicals to generate the energy required to fire the rounds.The
first weapon scale prototype of the railgun began under going firing test last
week and the next big step towards putting the super weapon on US warships by 2020.
The full size prototype made by BAE system , looks like a real gun.
Torpedo, Akash Missile To Be
Handed Over To Navy & IAF
The indigenously developed advanced lightweight
torpedo and the Akash missile system will be handed over to navy and the Indian
Air Force at a function in Hyderabad on 3 March 2012. The defence Research
& Development Laboratory (DRDL), Hyderabad, developed Akash , a surface to
air missile. Torpedoes are underwater missiles which are fired from ships,
submarines or helicopters against ships and submarines. The Torpedo Advanced
Light (TAL) which was developed by the Naval Science and Technological
Laboratory in Vishakapatnam.
Brahmos Supersonic Cruise Missile
Successfully Test Fired
The Army had successfully test-fired the 290km
range Brahmos supersonic cruise missile at the Pokhran range in Rajasthan on 4
March 2012, to operationalise the second regiment of the weapon system in
service.
Nirbhay To Be Test Fired In April
The Defence Research and Development Organisation
(DRDO) had developed a new sub-sonic cruise missile called Nirbhay, which may
be test -fired in April. This is the first time that India has developed a
cruise missile that will travel at sub-sonic speed. Nirbhay is a two
stages, surface to surface missile and surface to air missile, while a booster
engine would kick the first stage from the ground. It is India’s equivalent of
US Tomahawk. It can engage many targets and be in air for longer period.
Huge Asteroid To Come Close To
Earth In One Year
About 150-foot asteroid orbiting earth called 2012
DA14 will fly fast, just 17,000 miles from earth nearer than geostationary
satellites on 15 Feb next year hits our planet. If an asteroid of that big size
hits our planet, it would cause an explosion similar to a nuclear blast. Two
Astronomers from the Observatorio Astronomics De La Sagra in Spain spotted 2012
DA 14 in late Feb 2012 and its orbit has been estimated to be very similar to
Earth’s
Huge Space Storm Hits Earth
A strong geomagnetic storm hit Earth early on 8
March 2012, but the planet’s magnetic field appeared to be absorbing the shock
and it was unlikely to reach severe levels. The storm was expected to be the
strongest in five years and has the potential to disrupt global positioning
systems, airlines flights, satellites and power grids. The leading edge of the
coronal mass ejection a Burst of hot plasma and charged particles that erupted
from the sun
Jupiter, Venus Gets Closer
The pair of Jupiter and Venus will reach its
closest point between 12 March and 15 March, despite being vastly far from one
another in space, the conjunction will make them appear just a few degrees
apart in the sky. The most anticipated planetary event for 2012, will be the
transits of Venus in early June.
Students ” Space Web” Experiment
To Be Launched Soon
A team of science and engineering students had
developed an innovative ‘Space Web’ experiment which will be carried on a
rocket from the Arctic circles to the edge of space. The experiment known as
‘Suaineadh’, which was developed by a team of 20 students from the Universities
of Glasgow and Strathclyde and the Royal Institute of Technology in Stockholm.
It will be launched from the Esrange Space Centre in Northern Sweden in March
Russia To Send Man To The Moon By
2030
Russia is now to send a team of Cosmonauts to the
Moon. According to a leaked strategy document from Russia’s Space Agency,
Roskosmos, a space craft will conduct a demonstrative manned circumlunar test
flight with the subsequent landing of cosmonauts on the Moon’s surface and their
return to Earth by 2030.
India To Launch Mars Mission Next
Year
The Indian Space Research Organisation is planning
to send a scientific probe to Mars next year. The Mars orbiter mission would be
launched using the Polar Satellite Launch Vehicle (PSLV)during Nov 2013, the
spacecraft, which has a provision for carrying nearly 25kg of scientific
instruments, will be placed in an orbit 500km by 80,000km around Mars.
North Korea To Launch A Missile
North Korea announced on 16 March 2012 that it
would launch a rocket carrying a Satellite next month to mark the 100th
birthday of the former President late Kim II Sung, just 16 days after agreeing
to suspend long range missile test in return for massive US food aid. The US,
Japan and South Korea condemned the plan and said, it would breach a United
Nations ban imposed after previous launches. North Korea said a Unha-3 rocket
will launch a home built polar orbiting Earth observation satellite known as
Kwangmyoug-sons-3 by the last deal under which Pyongyang also promised to
freeze its uranium enrichment plant, had raised hopes of eased tensions under
the new regime headed by Kim Jong Un and it is the violation of UN Security
Council resolutions.
A New Species Of Frog Discovered
A new frog species was found by researchers in
Mawphlang, 25km from Shilong, capital of Megalaya. The new species was
named Fejervarya Sengupti in honour of Saibal Sengupta. Sengupta was the head
of Aryavidyapeeth College and one of the pioneers of amphibian research. The
new species was different from all congeners in terms of body size and cell
charecteristics. The discovery of new species shows that Northeast part of
India is quite rich in terms of its biodiversity, especially in case of
amphibians.
India Joins In Making Critical
Tubes For Nuclear Plants
India had joined a select band nations on 26 March
2012 when the Nuclear Fuel Complex (NFC) successfully manufactured critical
tubes required for steam generators of nuclear plants. Currently only three
companies in the world are producing the UNS NO8800 U tubes with NFC becoming
the fourth entity. The first tubing consignment was handed over to Larsen &
Toubro, which is manufacturing eight steam generators for Kakrapara (3&4
units) and Rajasthan (7&8 units) nuclear power plant being set up by the
Nuclear Power Corporation of India Limited (NPCIL)
Sea Levels Could Rise By 22Metres
The sea levels could rise up to 22meters in the
future due to global warming, an international team lead by Prof Kem Miller and
Prof Tim Narish analized sediment cores in Virginia in the US, Eneweta K Atoll
in pacific and the Whanganui region of New zealand that the late pliocene epoch
2.7m to 3.2m years ago, which is the last time the carbon dioxide level in the
atmosphere was at its current level, and atmospheric temperatures were two
degrees higher than are now The global sea levels were higher than present.
Brohmos Supersonic Cruise Missile
Test-Fired Successfully
India had successfully test fired its supersonic
cruise missile from the Integrated Test Range at Chandipur in Odisha on 28
March 2012. The missile rose from a Tatra truck on the sea-side launch station
and speed over the Bay of Bengal at 2.8 times the speed of sound. The missile,
which has a flight range up to 290km is capable of carrying a conventional
warhead of 200 to 300kg, the cruise missile was a surface to surface Army
version.
NASA SpaceCraft Found Evidence Of
Water Ice In Mercury
A NASA spacecraft called messenger in the month of
March 2012 discovered further evidence for the existence of water ice at
Mercury’s poles. Although surface temperature at mercury can soar above 400C,
some craters at mercury’s poles are permanently in shadow, turning them into so
called cold trops.
American Robot Cheetah Sets New
Record
A Cheetah robot funded by the US military had
broken the land speed record, while running on a lab treadmill. Its robotic display
of athleticism given hope for new battlefield robots that could prove nimbler
than existing robots on wheels or tank like treads.
Speech Jammer Device
The Japanese researchers recently introduced a
prototype for a device called as ‘speech Jammer’, which can literally jam some
one voice effectively stopping them from talking
China To Launch 100 Satellites By
2015
China has set a target of completing a space
mission of 100 rockets, 100 satellites between 2011 and 2015. According to the
Deputy General Manager of China Aerospace, Science and Technology. On an
average China will complete about 20 launch missions each year before 2015,
China had launched 19 satellites, 1 target orbiter, 8 spacecraft with 19
long march rockets last year.
PERSONS IN NEWS
a) Appointments
Gopal Gandhi As New IIAS Chairman
Gopal Krishna Gandhi had been elected as the new
chairman of the Governing body of the Indian Institute of Advanced Study
Shimla, and president of its society.
New Chairman Securities
Commission For Malaysia
Mr. Ranjit Singh had been appointed as the chairman
of the Securities Commission of Malaysia , replacing Mr. Zarinah Anwar.
New CII Chief For A.P
Ms.Suchitra K.Ella, co-founder and joint M.D of
Bharat Biotech International had been elected as chairman of Cost Inflation
Index (CII) of Andhra Pradesh for 2012-13
H.S Bedi As The Chairman Judge
Justice H.S Bedi, the Supreme Court of India on 2
March 2012 appointed its former judge, as the chairman of the monitoring
authority which will investigate the case of 22 alleged fake encounter killing
in Gujarat in 2007-8.
New Chairman For Coal India
S. Narasinga Rao has been appointed as the Chairman
of the Coal India Ltd. He is presently working as the CMD of Singareni
Collieries.
Germany’s New President, Gauck
Former East German Rights Activist Joachim Gauck
had been appointed as the New President of Germany on 18 March 2012.
New Railway Minister
Mukul Roy had been appointed as the new Railway
Minister on 20 March 2012 in the UPA Government
Shyamala As Central Vigilance
Commission
Shyamala Gopinath, Central Vigilaner Commission was
appointed as the chairperson of the Advisory Board and commercial &
financial frauds on 29 March 2012
b) Resigns
Rahul Dravid Takes Retirement
From International Cricket
Rahul Dravid Had announced his retirement from
international cricket on 8 March 2012, by ending a long outstanding career. He
was the second highest test scorer after Sachin Tendulkar in test matches.
Railway Minister Resigns
Railway Minister Mr. Dinesh Trivedi had resigned on
18 March 2012 due to crises over, increasing fare prices for passengers in the
railway budget 2012-13 which was against the Trinamul party policy.
Waterman’ Rajendra Singh Quits
NGRBA
Magsaysay award winner ‘ Waterman of Rajasthan’
Rajendra Singh on 11 March 2012 quits the Prime Minister Manmohan Singh chaired
National Ganga River Basin Authority (NGRBA) protesting the Governments negligence
of the river.
c) Deaths
Former Basketballl Champion
Muniyappa Passes Away
A member of the Indian team at the 1967 South Asian
Basketball Championship B.Muniyappa, and a qualified NIS coach died on 5 March
2012 in Bangalore.
West Indian Cricket Player Dies
In Accident
West Indian cricket player Runok Morten died on 4
March 2012 in a car accident. He played 15 test matches, 56 one day
international and 7 20-20 matches since 2002.
Former PTI Chairman Died
P.K.Roy, former chairman of press trust of India,
and president of the Indian Newspapers society and the Audit Bureau of
Circulations for Several terms died on 24 March 2012 in Kolkata.
Marathi Poet Passed Away
Marathi poet and Sahitya Akademi award winner,
Manik Godghate passed away in Pune on 26 March 2012. He was honoured with the
Sahitya Akademi for his prose collection. ’Varyane Halta Raan in Feb 2012
d) Visitors
Anwar Ibrahim Visits Kerala
Mosque
Anwar Ibrahim, former deputy prime minister of
Malaysia and opposition leader of the country, visited the historic shrine at
Thalangara locality paid obeisance at the Malik Dinar Juma Masjid.
IMF Chief Visiting India
The International Monetary Fund managing director
Ms. Christine Lagarde , is going to visit New Delhi on 19 March 2012, to meet
senior Government officials and to participate in a high level conference”China
and India sustaining high quality growth”. The conference is being co-hosted by
the IMF and will be inaugurated by the Finance minister Mr. Pranab Mukerjee.
The two days conference will bring together policy makers, academics and
private sector representatives to discuss the growth success of China and India
Ravi Shankar To Visit Pakistan
Spirutual leader Ravi Shankar had visited Pakistan
for three day peace mission on 11 March 2012 ,This was his second visit to
Pakistan, to emphasizing the urgent need for a people to people movement
IAF Chief’s 4 Day Bangladesh Trip
Indian policy to step up bilateral military
cooperation with Bangladesh, Our IAF Chief Air Marshal (ACM) N.AK. Browne had
left for a four day visit to Dhaka on 18 March 2012.
e) Miscellaneous
NEET Rollout In 2013-14
India is to set roll out NEET from 2013-14, the
Common National Eligibility-cum-Entrance Test (NEET) for admission to under
graduate courses will be conducted by the CBSE, while the National Board of
Examination will conduct the post graduate exams. The Union Health Ministry had
informed the state Governments that their existing reservation policies would
not be disturbed under the proposed scheme and state wise eligibility merit
lists will be prepared for the respective state authorities.
Blind Woman Gets Railway Job
After 4 Yrs Struggle
A visually challenged woman who cleared the Union
Public Service Commission (UPSC) exam with distinction in 2008, but was denied
posting got justice after 4 years battle and the intervention of P.M Manmohan
singh, 75% visual disability, had been offered an Indian Railway Personal
Services post under group B of class I
Bin Laden Cinema By Oscar
Director
Oscar winning director Kathryn Bigelow is going to
make a movie about Osama Bin Laden. the name of the movie is Zero dark thirty.
PLACES IN NEWS
Earthquake of 4.9 Magnitude in
North
A low density of earthquake measuring of 4.9 on
Ritcher scale felt in Northern India, at Bahadurgarh in Haryana as its
epicentre is the third tremor in these places since two months
Earthquake Leaves 800 Homes
Damaged In Mexico
A strong 7.4 magnitude earthquake hitted
Southern Mexico on 20 March 2012, damaging some 800 homes near the epicentre
and swaying tall buildings and spreading fear and panic hundreds of miles away
in the capital of Mexico.
ABBREVIATIONS
ASOSAI – Association of Supreme Audit Institutions
GATT – General Agreement on Tariffs and Trade
NSIGSE – National Scheme of Incentive to Girls Secondary Education
ARAI – Automotive Research Association of India
IGPCC – Inter Governmental Panel on Climate Change
AIDWA – All India Democratic Women’s Association
DTAA – Double Taxation Avoidance Agreement
IATA – International Air Transport Association
DTC – Direct Tax Code
AEPC – The Apparel Export Promotion Council
SCRES – South Central Railway Employees Sangh.
IMF – International Monetary Fund
APMC – All Agriculture produce Marketing Committee
CII – Cost Inflation Index
AOSIS – Association of Small Island States
NFIR – The National Federation of Railwaymen
INSC – International North-South Corridor
DGFT – Directorate General of Foreign Trade
DGFT – Directorate General of Foreign Trade
IRFC
-
Indian Railway Finance Corporation
BOOKS IN NEWS
Mamata Banerjee: Political Biography
Book Released
A journalist Monobina Gupta had written a political
biography of Mamata Benerjee’s “Didi, The Political Biography” which tries to
capture the complexities that make Mamata Benerjee what she is explores her
personal, her perception of herself as a woman and her equations with the lefts
radical politics in Bengal.
North-Eastern State’ Book
Released
Minister of State for Defence M.M.Pallam Raju had
released the book ” NorthEast Trilogy” written by Dipti Bhalla and Kunal Verma
, which has the spirit of the country, its tribes and languages.
Masterpiece Book Of Garcia
Marquez
Colombian writer Gabrial Garcia Marquez on his 85th
birthday on 6 March 2012 starts the sales of an electronic version of his
masterpiece novel “One Hundred years of Solitude”. The book had already sold
30million copies world wide.
COMMITTEES IN NEWS
ECCE Committee Had Set Up
The Government had proposed a National Early
Childhood Care & Education (ECCE) policy, which lays down the way for a
comprehensive approach for every child. To sustain the Multi sectoral and
inter agency collaboration, a thematic ECCE Committee with experts will be
formed under the ICDS mission steering groups initially and later formed as a
National ECCE council, with corresponding councils at the state level. The
council will be the apex body to guide and oversee the implementation of the
policy as well it keeps ECCE programmes consistent with the National ECCE
policy
Finance minister set up committee
to Address Bad Loans
Finance minister had set up a committee to address
rise of bad loans after Moody’s downgrading Union bank of India by one notch
due to its high level of troubled assets and low provisions for coverage.
Committee For Corporate
Governance
Ministry of Corporate Affairs in March 2012 set up
a committee under the leadership of Adi Godrej chairman Godrej group to bring
out a formal policy document that will initiate enlisting of diverse elements
of corporate governance under a single national corporate governance policy,
the first meeting of the committee is scheduled to be held on 5 April 2012.
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