Daily News Notes: 29th Feb, 2012

· The government is focusing on development of clean coal technologies in coal mining in the country as coal is the main stay of the country energy and dependence on the same is likely to continue for quite some time in to the future.
· Telecom Minister has said that India is looking at holding spectrum auctions for the fourth generation, 4G mobile services by the end of this year. Mr. Sibal also said that the government does not want to put the entire spectrum for auction at one go, but their final decision will depend on the recommendations of the Telecom Regulatory Authority of India.
· President Gives Away National Tourism Awards (only major awards): (1.) Best State/ UT for tourism infrastructure and tourism related programs: Madhya Pradesh; (2.) Best State for Campaign Clean India: Sikkim; (3.) Best Heritage City: Hyderabad; (4.) Best Rural Tourism Project: Rural Tourism Project at Srikalahasti, District Chittor, Andhra Pradesh; (5.) Best Medical Tourism facility: Ruby Hall Clinic, Pune; (6.) Best Airport: Rajiv Gandhi International Airport, Hyderabad; (7.) Best Tourist Friendly Railway Station: New Delhi Railway Station; (8.) Best Tourism Film: Madhya Pradesh Tourism; (9.) Most innovative use of Information Technology / Best Website / Portal: Kerala Tourism.
· India's economic growth rate slipped to 6.1 per cent in the third quarter this fiscal, the lowest in more than 2 years. This fall was due to poor performance of the manufacturing, mining and farm sectors.
· A meeting in the Prime minister's office decided to increase the country's health outlay by 2.5 per cent of GDP. The meeting specifically focused on implementation of recommendations of the National Commission for Macroeconomics and Health and the High Level Expert Group on Health set up by Planning Commission. It has also stated that though funds for the Health sector will not be a constraint, there is a need to create adequate capacity at the centre and the states to meaningfully absorb the increased outlay.
· In Kerala, the trial of the Kashmir Recruitment case began at the NIA Court in Kochi this morning. The Court directed that the proceedings be held in-camera. The case relates to the recruitment of youths from Kerala for waging war against the country. 24 persons are accused in the case including Lashkar-e-Toiba activist Thadiyantevide Nasir. Two accused in the case are absconding. The case was initially registered in 2008 and was later transferred to the NIA.
· The Reserve Bank of India (RBI) on Tuesday said that it had intervened in the domestic foreign exchange market when the rupee's foreign exchange value had gone down against the U.S. dollar in the half-yearly period ended September 30, 2011. Foreign exchange reserves stood at $304.8 billion as at end-March, 2011. It increased to a peak of $322 billion as at end-August, 2011. Thereafter, it came down to $311.5 billion at the end of September 2011. “The main reasons for the decline are the revaluation effect and intervention in the domestic foreign exchange market,” RBI said in its half-yearly report on Management of Foreign Exchange Reserves. Till August 2011 (calendar year) the rupee was quoting in the 44-45 range to the dollar. However, it started falling sharply in September and moved above the 52-level in November last year. RBI's intervention helped improve rupee's foreign exchange value against other currencies. Although the U.S. dollar and the euro are intervention currencies and foreign currency assets are maintained in major currencies such as U.S. dollar, euro, British pound sterling and Japanese yen, foreign exchange reserves are denominated and expressed in U.S. dollar only. The Reserve Bank held 557.75 tonnes of gold as on September 30, 2011. Of these, 265.49 tonnes are held abroad in deposits / safe custody with the Bank of England and the Bank for International Settlements.
· Agni V, the surface-to surface nuclear missile that is expected to give more teeth to India's deterrence programme, is likely to be test-fired for the first time in the last week of March or the first week of April from the Wheeler Island, off the coast of Odisha. Disclosing this here on Monday, V.K. Saraswat, Scientific Adviser to the Prime Minister and Head of the Defence Research and Development Organisation (DRDO), said the DRDO would conduct more test flights of the missile over the next one year. Countries across the world have been keenly watching India's progress in developing this missile, which will have three stages, all fired by solid fuel with a range of 5,000 km and is capable of carrying a one-tonne nuclear war head.
· Foreign Secretary Ranjan Mathai will put forward India's case for joining the Nuclear Suppliers Group (NSG) at an outreach meeting with the world body's key members in Vienna. The NSG was a western initiative, primarily aimed at emasculating India's nuclear industry after New Delhi conducted a nuclear explosion in 1974. Since then, it became a closed cartel that permitted only five countries to maintain nuclear arsenals while seeking to punish others who sought such a route. It is India's refusal to sign the NPT that has made it tough for it to join the NSG as well as other international export control regimes — the Missile Technology Control Regime, the Australia Group and the Wassenaar Arrangement. But compared to Pakistan, which is also keen on joining the NSG, India's path has smoothened after the NSG allowed it to join the global nuclear commerce mainstream. This led to India inking civil nuclear agreements with several countries, including the U.S., Russia and France, who will now set up nuclear power plants and transfer technology. India will explain its commitment to non-proliferation and attempts to meet international standards, besides stating its willingness to discuss the Fissile Missile Cut-off Treaty. Although several countries feel India, as a NPT non-signatory, should not be given membership, civil nuclear technology giants such as U.S., France and Russia have promised to back its bid as they feel its case is different from that of Pakistan and Israel.
· India has welcomed the decision of the Government of Pakistan to transition from a Positive List Regime to a small Negative List for trade with India. There is reiteration of commitment that the negative list will be phased out by the end of this year. This will mark a dramatic shift in the lines that can be traded as now almost 90% items can be traded with Pakistan as opposed to 17% earlier.
· Under the framework of the S&T Initiatives for Africa, Department of Science & Technology is holding a “India-Africa S&T Ministers Conference” at New Delhi. This major Ministerial level event is being organised in close coordination with the African Union Commission. The presence of the policy and decision makers from both sides will also help to discuss, outline and develop future S&T interactions including collaborative research, student and faculty exchange programs, knowledge and technology transfer platforms and various capacity building mechanisms which are relevant to the African country's needs.
· India today took over the chair of assembly and governing board of Association of Supreme Audit Institutions (ASOSAI). Comptroller and Auditor General of India, Mr. Vinod Rai is the new chairman of the 45 nation strong Asian Organization of the Institutions of the Accountants General. ASOSAI is the largest regional organization of the government auditors. Mr. Rai takes over the prestigious post from Pakistan. The ASOSAI aims to promote understanding and cooperation among member institutions through exchange of ideas and experiences in the field of public audit. Mr. Rai welcomed the UN General Assembly resolution recognizing the autonomy and independence of Supreme Audit Institutions (SAIs). The resolution says “SAIs can accomplish their tasks objectively and effectively only if they are independent of the audited entity and are protected against outside influence.” It also recognizes “the important role of SAIs in promoting the efficiency, accountability, effectiveness and transparency of public administration.”
· Iraq invited Indian industry to actively participate in re-building the war-torn Iraq by making investments and entering into business ventures as needed investment in all sectors, particularly housing. Bilateral trade between the two nations has increased from $5.7 billion in 2006-07 to $9.7 billion in 2010-11. The main export items from India to Iraq include metals, electronic goods, basmati rice, meat and machinery. Imports include crude oil, fruits and nuts, sulphur, wool and chemicals. Iraq had enormous natural resources such as hydrocarbons, land mass and mineral wealth. Iraq also said that it is changing from centrally-planned economy to a market-economy and is also reforming its financial, legal and administrative infrastructure in order to integrate Iraq with the global economy.
· During the emergency session of UN Human Rights Council in Geneva, UNHRC has asked Syria to immediately halt the attacks by the security forces on civilians. It means that if indicted, the top Syrian leadership may be put in future on trial for crimes against humanity by the International Criminal Court in Hague. The Council is also set to pass a draft resolution to decry those responsible for human rights violation including the crimes against humanity. The death toll in the ongoing violence in Syria has crossed 7500. Meanwhile, the Syrian Ambassador for United Nations in Geneva walked out of the meeting by saying that this is not the right forum. He demanded that countries stop inciting sectarianism and providing arms to opposition forces in the country.
· US President Barack Obama has created a new trade task force to investigate and crack down on unfair practices by American trading partners. The move comes amid concerns that unfair trading practices, especially by China, were harming US businesses by keeping its (china) currency artificially low in a bid to help China's exporters. Thus the International Trade Enforcement Center will aim to ensure US businesses have a level playing field.