Daily News Notes

· The Union cabinet today approved the policy for acquisition of raw material assets abroad to all the Central Public Sector Enterprises (Maharatna and Navratna) in the ministries of Agriculture, mining, manufacturing and electricity sectors having at least three years record of making profit.
· The cabinet approved the proposal to bring India Infrastructure Finance Company Limited under the supervision of the Reserve Bank of India. This will enhance the professional capability of the company and increase its capital base 2000 to 5000 crore rupees.
· The Cabinet also gives its nod to introduction of the Security Interests and Recovery of debt loss Bill 2011 in the Winter Session of Parliament which will enable banks to improve their operational efficiency, deploy more funds for credit disbursement to retail investors, and home loan borrowers without fearing for recovery and also promote innovation in credit information. .
· Commerce and Industry Minister said that Indian Exports are expected to reach 500 billion US dollars by 2014 while making announcements on the Foreign Trade Policy for 2009 to 2014. Mr. Sharma also introduced a Special Market Scheme to increase the global competitiveness of exports to markets in Latin America, Africa and CIS Countries and to provide special assistance to engineering, pharmaceuticals and chemical sectors. Government also launched the 'Niryat bandhu' scheme meant to encourage new and young entrepreneurs in export business.
· The Defence Minister said that several measures have been taken to strengthen the coastal security such as establishment of joint operation centers, induction of Fast Interception Crafts and setting up of Sagar Prahari Bal. Mr. Antony applauded the efforts of the Indian Navy in checking piracy.
· The Railways are to issue tax-free bonds by next month to raise around 10,000 crore rupees to raise market borrowings for capacity building. The Railways have also got temporary relief on account of service tax on freight services. The market borrowings of the Railways are pegged at 20,594 crore rupees in the current fiscal, out of which 10,000 crore rupees is expected to be raised through tax-free bonds.
· Ongoing strike in Andhra Pradesh reached to its 31^st day. Coal production and power generation have been the worst hit. Road Transport Corporation bus services are being operated partially with one section of employees reporting back to duties.
· India and Germany have signed a comprehensive social security agreement which will relieve Indian workers from double taxation and provide cooperation in areas of labour market expansion and orderly migration. Indian workers on short term contracts of up to five years will not be required to make any social security contribution in Germany provided they continue to make social security payments in India. The relief will be available to Indian workers even if an Indian company sends its employees to Germany from a third country. Similar relaxation will be provided to German citizens working in India. There are about 68,500 Indians in Germany most of whom are working as professionals or self-employed.
· Vietnam President Truong Tan Sang, who arrived in Mumbai today. The two countries have decided to increase bilateral trade to 7 billion dollars by 2015. The Vietnamese President invited Indian business and technical expertise in sectors like healthcare, oil & gas, manufacturing, agro-industry, pharmaceuticals, automotive, IT, shipping and ports, electrical consumer appliances, education and road infrastructure. He said that Vietnam implemented a 10year long modernization policy which has thrown open the need for products and services worth millions of dollars and India with its expertise can take advantage of it.
· In Bhutan, the royal wedding of King Jigme Khesar Namgyel Wangchuk (31 year old Monarch) to Queen Jetsun Pema (21 year old Queen educated in India and United Kingdom) took place.
· Chief Information Commissioner Satyanand Mishra on 6th Annual Convention of the Central Information Commission said that sharing of information in any way does not limits decision making abilities of public servants and thinks that the change does not lie in amending or abridging the frontiers of the Right to Information Act, but lies in changing the systems with in the government so that we can live with the RTI Act and also make good decision.
· In Tamilnadu, the revenue authorities carried out an exercise to test communication channels in the coastal districts as part of a mock tsunami drill across several countries in the Indian Ocean region. The naval authorities demonstrated the use of life jackets and ascertained the availability of food rations,captive power and functionality of generators, life jackets and medical kits were also ascertained. Andaman is located in a high seismic zone.