Daily News Notes

· Inaugurating the 99th Indian Science Congress at Bhubaneswar, the Prime Minister has called for increase in the expenditure on research and development, R&D, by atleast 2 percent from the current 1 percent by the end of the 12th five year Plan. He also emphasized the importance of exploring traditional knowledge systems in areas of agriculture, architecture, handicrafts, textiles, and National Missions on Sustainable Development of Agriculture, Water, Energy Efficiency, Solar Energy, Forestry and green growth. Public investment in research and development has been growing a 20-25% per annum during the 11th five year plan. The government is also examining a proposal to build national capacity and capability in supercomputing which will be implemented by the Indian Institute of Science Bangalore at an estimated cost of 5000 crore rupees. The Prime Minister also gave away awards to tribal of Koraput region for the global recognition they received for conservation of bio-diversity and developing climate resilient farming systems.
· According to the data released by the Agricultural Ministry, production of foodgrains, covering only kharif crops during 2011-12, is estimated at an all-time high record level, thus the country is expecting to have another year of record food grain production. The increase is mainly due to rise in production of rice in major paddy producing States in the country.
· Bihar Chief Minister Nitish Kumar has been chosen for the first Gates Vaccine Innovation Award, instituted by the Bill and Melinda Gates Foundation, for the state's successful immunization programme
· Crisil (a Rating agency of India) said the repeated interest rate hikes by the Reserve Bank and lower operating profits on the back of high input cost have pulled down India Inc's interest paying ability to a five-year low. Uncertainties in the West and lower GDP growth domestically will push India Inc into a slower revenue growth phase which could increase the pressure on profit and further deteriorate interest coverage ratios. The government and RBI have been repeatedly revising down GDP forecasts for the fiscal and recently Governor had raised doubts if the economy will achieve even the 7.6 per cent projected by him earlier.
· The Supreme Court issued notices to the Centre and Air India on a plea seeking minimum 75 lakh rupee compensation for each of the 158 victims of the May 2010 Mangalore air crash.
· Israeli and Palestinian negotiators gathered in the Jordanian capital Amman for their first face-to-face meeting in 16 months alongside international mediators to relaunch moribund peace talks. They will also meet bilaterally with the Quartet of Middle East mediators - the United States, the European Union, Russia and the United Nations in the coming year.
· Danish General Knud Bartels took office as the Chairman of 28 members NATO's Military Committee to succeed Italian Admiral Giampaolo Di Paola. The Chairman of the Military Committee is elected for a 3-year tenure. He will be the principal military adviser to NATO Secretary General, former Danish Prime Minister Anders Fogh Rasmussen.
· An eye disease called exfoliation syndrome (ES) is known to be a precursor to glaucoma and cataract. Unfolding a set of risk factors for ES, scientists from Massachusetts Eye and Ear have revealed that ambient temperatures, sun exposure and gender may instigate glaucoma.