Daily News Notes: 5th June to 7th July, 2012

• ·         The Union Cabinet has  approved the proposal for extending the scheme of interest subvention of 1% on housing loans upto 15 lakh rupees for the year 2012-13. The cost of the house should not exceed 25 lakh rupees.
• ·         The Union Cabinet gave its nod to the proposal to offer financial support for the development of Electronics Manufacturing Clusters, EMCs.  The proposed EMCs scheme will support setting up of Greenfield and Brown field EMCs and will help in developing of entrepreneurial ecosystem. As part of the vision to make India a leading destination for the ESDM sector, the draft National Policy on Electronics (NPE) proposes to achieve a domestic production of about USD 400 Billion by 2020 in the ESDM sector by creating an industry friendly policy framework and ecosystem which provides a level playing field for the domestic industry and generate 28 million jobs. The draft NPE also proposes to set up two semiconductor wafer manufacturing facilities and to create and sustain a vibrant research and development and innovation eco-system in the ESDM sector. The importance of clusters in ESDM is a well accepted phenomenon worldwide. A well developed cluster can give a unit located in it a cost advantage of 5 to 8% because of various reasons such as increased supply chain responsiveness, consolidation of suppliers, decreased time-to-market, superior access to talent and lower logistics costs. The cluster development approach also helps in the development of entrepreneurial ecosystems which drive innovation and catalyze the economic growth of a region by increasing employment opportunities and tax revenues.
• ·         The Cabinet Committee on Economic Affairs, CCEA has approved the proposal of Tamilnadu government to set up a Petroleum Chemicals and Petrochemicals Investment Region, PCPIR in the Cuddalore and Nagapattinam districts of the State.  Such PCPIRs have already been approved for Andhra Pradesh, Gujarat, West Bengal and Orissa. CCEA: The major function of the CCEA is to review economic trends on a continuous basis, as also the problems and prospects, with a view to evolving a consistent and integrated economic policy framework for the country. It also directs and coordinates all policies and activities in the economic field including foreign investment that require policy decisions at the highest level. The CCEA has been constituted with the Prime Minister, Dr Manmohan Singh, as Chairman. Recent decisions by CCEA: [1.] On June 16,2012 the CCEA has approved the proposal of Ministry of Social Justice and Empowerment headed by Mukul Wasnik, to introduce a new centrally sponsored scheme of Pre-Matric Scholarship Scheme for students belonging to Scheduled Castes in class nine and ten with effect from July 1 this year. The overall literacy rate, as per 2001 census, is 64.8 per cent and for the Scheduled Caste it is 54.7 per cent; [2.] On July 5,2007 the CCEA gave its approval for continuation of the National Mission on Bamboo Applications till November, 2009 in the Eleventh Plan. It has also gave its approval to the modifications to the Special Package for Livestock and Fisheries in the 31 identified suicide-prone districts suggested by the beneficiary; [3.] The CCEA on 13 December 2011 approved National Electricity Fund to improve the distribution network for areas not covered by Rajiv Gandhi Gramin Vidyutikaran Yojna (RGGVY) and Restructured Accelerated Power Development and Reforms Programme (R-APDRP) project areas; [4.] The CCEA on June 14 ,2012 approved extension of the duration of the Crime and Criminal Tracking Network & Systems (CCTNS) project, scheduled to end on March 31, by another three years up to March 31, 2015. CCTNS is a project which aims at creating a comprehensive and integrated system for enhancing the efficiency and effectiveness of policing at the Police Station level through adoption of principles of e-Governance and creation of a nationwide networked infrastructure for evolution of IT-enabled state-of-the-art tracking system around "investigation of crime and detection of criminals".
• ·         The Cabinet Committee on Economic Affairs has approved the proposal (i) to include 22 additional districts in the list of 250 Backward Regions Grant Fund (BRGF) districts and for extending the District Component of BRGF with the expanded coverage to the 2012-13, and (ii) to cover four additional districts under the Integrated Action Plan (IAP) in 2012-13. The Backward Regions Grant Fund (BRGF), which aims to catalyze development in backward areas, was approved by the CCEA in August, 2006. The BRGF has two components, namely, District Component covering 250 backward districts in 27 States and State Component which includes Special Plan for Bihar, Special Plan for the Kalahandi-Boangir-Koraput (KBK) districts of Orissa, Special Plan for West Bengal, Integrated Action Plan (IAP) for Selected Tribal and Backward Districts and Bundelkhand Package. The implementation of the programmes is being done by the State Governments. The aim of the programme is to accelerate socio-economic development in the States concerned.
• ·         The Cabinet Committee on Security is likely to mull over the proposal of the Defence Ministry to procure the air-launched version of the 290-km-range BrahMos supersonic cruise missiles for the IAF. Thus, India is heading towards joining the power club of few countries having air-launched cruise missiles with a proposal to equip the Indian Air Force's vanguard fighter aircraft Su-30 MKI with BrahMos. Plans are in place to conduct 1st test of this version developed jointly by India & Russia, by December 2012. The BrahMos missile integrated Su-30s will aid the IAF in attaining the potential to deliver a deadly-blow to enemy structures from a range of around 300 km. It will be lighter and smaller than the land-based version of the missile so that it can be fitted to the aircraft.
• ·         The Union Cabinet approved setting up of an autonomous organization North-East centre for Technology Application and Research at Shillong which will be completed in the 12th Plan period.  The objective of the centre is to promote deployment of carefully selected technologies emanating from the public funded research institutions under the government.
• ·         The Cabinet has approved the setting up of a Central Procurement Agency (CPA) for bulk procurement of drugs. Thus, India’s ambitious policy to provide free medicines to all patients attending a government health facility across the country will be rolled out from October this year. The entire programme, however, is estimated to cost Rs28,560 crore over the 12th  five year plan. At present, the public sector provides healthcare to only 22% of the country’s population. The health ministry estimates that this will increase to 52% by 2017 once medicines are provided for free. The health ministry has sent the National List of Essential Medicines, 2011, (348 drugs which includes anti-AIDS, analgesics, anti-ulcers, anti psychotic,sedatives, anesthetic agents, lipid lowering agents, steroids and anti platelet drugs) to all the states to use as reference. The states, however, have been asked to create their own Essential Drugs List (EDL), keeping in mind the diseases that worst affect them. Around 75% of the funds under the scheme will be borne by the Centre, while the rest will be the state’s responsibility. A Planning Commission panel had said around 39 million Indians are pushed to poverty because of ill health every year. Around 30% in rural India didn’t go for any treatment for financial constraints in 2004. In urban areas, 20% of ailments were untreated for financial problems the same year. About 47% and 31% of hospital admissions in rural and urban India, respectively, were financed by loans and sale of assets. States have also cut down on spending to purchase drugs, adding to aam aadmi’s woes.
• ·         The Cabinet Committee on UIDAI has decided that the Home Ministry and the Unique Identification Authority of India (UIDAI) will together collect biometric data of 1.2 billion Indians. The UID project aims to provide unique identity numbers to the marginalized sections of society and reinforce equity. Earlier both this entity (MoHA & UIDAI) were debating over the issue of collection of biometric data which necessitates the right to scan people's eyes and fingerprints. Thus, the issue was settled by a cabinet committee which directed UIDAI (which comes under the Planning Commission) to issue 600 million cards in 16 states and union Territories and asked the Home Ministry to cover the remaining 600 million people as part of the National Population Register (NPR) being prepared by the Registrar General of India. The demographic data for the creation of the NPR was collected for the entire country during April to September 2010 through house-to-house enumeration. The data has since been digitized and currently, biometric enrolment is in progress. Once collected, the NPR data along with biometrics would be sent to UIDAI for de-duplication and degeneration of UID numbers (Aadhar). The Government also proposed to issue Resident Identity (Smart) cards under NPR. Registration in the NPR is mandatory for all usual residents of the country under the Citizenship Act 1955 and Citizenship Rules 2003.
• ·         The Project on Removal of Barriers to Biomass Power Generation in India got formally started. The aim of the  UNDP / GEF assisted Project , which is being implemented by Ministry of New and Renewable Energy (MNRE), is to accelerate the adoption of environmentally sustainable biomass power technologies by removing the barriers identified, thereby laying the foundation for the large scale commercialization of biomass power through increased access to financing. As part of this Project, a one MW fluidized bed biomass gasification plant is planned to be set up at M/s Ruchi Soya Industries Ltd. (RSIL) premises at Washim, Maharashtra as a Model Investment Project (MIP). The proposed gasification system is claimed to have a higher conversion efficiency (>95 %) as compared to 80-85 % of the existing gasification systems and also an advanced gas cleanup system and will  overcome the existing barriers such as -non availability of proven single module of gasifier and gas clean up unit of capacity 1MW or above, standardization of MW capacity systems, generation of operating data required as input for determination of separate tariff and demonstration of tri –generation, besides demonstration of biomass gasification technology for generation of grid quality power. A cumulative generation capacity of over 3700 MW through biomass power including bagasse cogeneration has been so far established in the country. The present project is designed to address the barriers which impede its deployment.
• ·         In order to address the issue of lack of transparency in bank lending rates, the RBI has formed a committee. The working group headed by the RBI Deputy Governor Anand Sinha will shape the rationales that must regulate proper, transparent and non-discriminatory pricing of credit. The working group is anticipated to present its report by August 2012.
• ·         While addressing the First Conference of the Chairpersons of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs), the Union Finance Minister asked them to suggest ways and means to expedite the unlocking of resources of various banks locked in the form of Non Performing Assets (NPAs) etc. He said that there can be no lending unless there is recovery.
• ·         The Govt with an aim to thrust exports up by 20% to $303.71 billion in 2012-13 announced a series of initiative as part of 7-point strategy including interest subsidy and market diversification programmes. It announced extension of Interest Subsidy Scheme by 1 year till March 31, 2013 for labour intensive sectors. The government also decided to bring new guidelines to refurbish Special Economic Zones (SEZ) and Export Oriented Unit (EOU) schemes to further boost the shipments. In 2011, the government had introduced a special allowance for labour intensive industry by extending the facility of 2 % interest subvention to handlooms, handicrafts, carpets and small and medium enterprises (SMEs). Now the Govt targets to expand its coverage to include other labour intensive sectors namely toys, sports goods, processed agricultural products and ready-made garments. However, a steep decline in exports growth in the last few months depicts that sustaining a similar growth this financial year would be a tedious job.
• ·         Infosys Technologies founder N R Narayana Murthy has said he feels sad about the state of the Indian economy. He said between 2004 and 2011, the country had not introduced many reforms. Murthy said that for the country to get a growth rate of 8-9%, it needed to build very heavy infrastructure. This build, he said, would need investments of $1–1.5 trillion. “Such a large pool of capital cannot come from India alone. So we need participation from outside and, for the foreigners to come to India, we have to be seen as a proactive, investor-friendly, and stable governance model. This is where the government should not send the kind of signals that that it has recently sent by introducing tax laws on a retrospective basis.” He said outsourcing had been a great success story for India, but even that had been achieved by enormous investments by companies on training employees. He said India’s outsourcing advantage was facing a threat from China. “China is improving its English skills. Unfortunately, our political leaders are opposed to English. This will cause software development business to move to China,” he said.
• ·         To improve CRAR [Capital to Risk (Weighted) Assets Ratio], Government have approved capital infusion of Rs 632 crore in some RRBs (Regional Rural Banks). Thus this will improve their capital adequacy and lending capacity to the agriculture sector. Adopting good word of RBI deputy governor K C Chakrabarty, the Govt had started recapitalization process in 2009-10 for 40 financially weak RRBs, which chiefly furnish credit to rural and agriculture sectors. Yet, till March 2012, capitalization was done only in 16 of the banks as various states didn’t furnish their share. To complete the process of recapitalization, the Cabinet has determined to stretch the scheme by 2 years. The Union Cabinet sanctioned the release of 50% share of the central government for recapitalization of the remaining RRBs. The capital of RRBs is apportioned by Centre, states and the sponsor bank in the ratio of 50%, 15% and 35% respectively. There are around 82 RRBs in India and nearly all of them are outfitted with core banking solutions.
• ·         The rupee experienced its biggest drop in nine months when it closed at an all-time low of 57.16 against the dollar – 1.5% lower than its previous close of 56.57. Despite the steep fall there was no panic in the markets as the depreciation was partly offset by good news of oil prices continuing to be low. Oil constitutes almost a third of India’s import bill and demand from oil companies could subside once the Reserve Bank of India implements a government proposal which involves RBI selling dollars directly to State Bank of India which would in turn sell them to oil companies. Although this would deplete RBI’s forex reserves, it would bring stability into the forex market and may even reverse the sentiment vis-a-vis the rupee. Gold imports have collapsed, crude oil prices have crashed and NRI deposits have grown after RBI eased the ceiling on foreign currency deposits. Data released by RBI showed that foreign exchange reserves rose by $2 billion to $289.39 billion in the week to June 15. The increase in reserves was on account of appreciation of assets in non-dollar currency such as euro and UK pound, dealers said. Bankers also said that absence of dollar supply in the international market was forcing Indian companies to replace dollar loans with rupee debt as a result of which credit growth during the current fiscal up to (June 1) continued to be high at 18.3% . Why is the rupee falling despite macroeconomic fundamentals remaining steady? The present weakening of the rupee is linked to a risk-averse sentiment. Importers are buying ahead of their requirement in the fear that the rupee could fall further. This is largely because of global factors with the dollar index near its all-time high; Moody’s downgrading global banks and Eurozone showing no signs of resolving. Investors are also disappointed that the US Fed has not announced a fresh round of monetary easing. [click here: (1.) Reason for Rupee weaking, (2.) Timeline]
• ·         The finance ministry announced the setting up of an Investment Tracking System for all major projects in the private sector and those under the public private partnership (PPP) worth Rs. 1,000 crore and above. The ministry released a format for monitoring such projects and promoters have been asked to update the information online. The government has now made it mandatory for promoters to provide details of their projects along with reasons behind delay to the monitoring cell on a monthly basis. The initiative has been taken in view of tardy progress of major infrastructure projects. The government has set up a proposed target of $1 trillion worth of investment in the infrastructure sector during the 12th Plan period between 2012-17, a majority of them in the private sector and under the PPP mode. For the current fiscal, the Prime Minister had said the government targets at least Rs. 2 lakh crore of investments in the core sector. Projects have been delayed for various reasons, including land acquisition problems faced by private sector companies and fuel supplies bottlenecks.
• ·         The country’s current account deficit—the net shortfall arising out of trade and capital flows—touched an alltime high of $21.7 billion or 4.5% of gross domestic product for the quarter ended March 2012. The deficit worsened because exports did not grow with global demand remaining soft owing to the European crisis. At the same time imports continued to rule high because of demand for oil and gold in 2011-12. Data released by RBI shows that remittances from export of software and from non-resident Indians continued to remain strong but were not enough to make up for the shortfall arising out of merchandise trade. Also, Import of bullion has fallen sharply after the government doubled customs duty on gold being brought into the country. Foreign direct investment also slowed sharply to $1.4 billion from $5 billion in the preceding quarter.
• ·         Finance ministry approved the Advance Pricing Agreement (APA) scheme, proposed in Budget 2012-13, related to transfer pricing regulations which is being considered as one of the major industry-friendly initiatives. The finance ministry’s green signal to the provisions devised by the Central Board of Direct Taxes (CBDT) would assist implementation of the APA scheme from July 1, 2012.
• ·         The Centre is planning to carry out the Sixth Economic Census as a Central Sector Plan Scheme in collaboration with all states and Union territories. It will provide the official count of entrepreneurial units located in geographical boundaries of the country involved in economic activities. The database would assist policy makers to evaluate the impact of the economic liberalization process on entrepreneurial activities, especially in the unorganized sector.
• ·         To attend to investor apprehensions over taxation issues, the Finance Ministry has proposed a monetary limit for invoking the contentious General Anti-Tax Avoidance Rules (GAAR) in its draft guidelines. As per the guidelines, GAAR provisions would be invoked only in cases where FIIs choose to take the advantage of double tax avoidance agreements and the provisions will apply only to the income earned by taxpayers on or after April 1, 2013. Therefore, the rules would not apply retrospectively, as many investors had feared. The draft guidelines also recommend establishing a 3-member Approving Panel to decide whether a particular case would attract the provisions of the GAAR. The Ministry proposed a monetary limit for invoking the controversial General Anti-Tax Avoidance Rules (GAAR) in its draft guidelines issued. Albeit the draft didn’t specify the monetary limit, it mentioned that those deals which are over a prescribed limit should be covered by GAAR provisions.
• ·         Under attack for not reducing interest rates, RBI Governor D Subbarao held that inflation at current levels is unacceptable and monetary-tightening is need for the hour in order to ascertain sustainable growth. As per Mr. Subbarao, the policy rate hikes have assisted in assuaging inflation. The WPI based inflation climbed to 7.55% in May 2012, while GDP growth last fiscal plummeted to a 9-year low of 6.5%. As per the RBI, the country is not in a 1991-like crisis situation and the economy is still in credible state. It is also asserted that the expected advantage of decline in crude oil and other commodity prices has been neutralized by the steep decline of the rupee.
• ·         In order to bring down the high import of gold, RBI deputy governor KC Chakrabarty has said the RBI is considering to educate and disseminating awareness in the people about the speculative nature of gold investments and that it is not proper investment for the poor. Further he said that the RBI is against the implementation of free of cost electronic fund transfer as it believes the plan in commercially unviable.
• ·         The Reserve Bank Of India has asked banks to immediately stop charging penalty on pre-payment of home loans taken on floating interest rates. The action will lead to reduction in the discrimination between existing and new borrowers, and will also result in finer pricing of the floating rate home loans. Recently, the Committee on Customer Service in Banks chaired by M. Damodaran had observed that  foreclosure charges levied by banks on prepayment of home loans were resented by home loan borrowers. As such, foreclosure charges are seen as a restrictive practice deterring the borrowers from switching over to cheaper available source. The committee had also said that the banks were found to be hesitant in passing on the benefits of lower interest rates to the existing borrowers in a falling interest rate scenario.
• ·         The Reserve bank of India has permitted the NRIs to send remittances more frequently. Resident Indians are now allowed to receive as many as 30 remittances from NRI friends and relatives during a year as against 12 earlier. The Reserve Bank of India has also asked all banks to generate a Unique Customer Identification Code (UCIC) for each of their customers. It will strengthen Know Your Customer, Anti Money Laundering and Combating the Financing Of Terrorism mechanisms. RBI has suggested banks to provide UCIC to existing individual customers by end-May 2013.
• ·         Reserve Bank of India, RBI has decided to keep all the key rates unchanged in its mid-quarter policy review: [1.] CRR 4.75%; [2.] repo rate 8%; [3.] reverse repo rate 7%; [4.] marginal standing facility rate and the Bank Rate at 9%. Further, the RBI said that the euro area sovereign debt problem has continued to weigh on the global recovery. It added that while slowing global growth has dampened commodity prices, heightened risk aversion and the resultant slowing of capital flows will have a significant adverse impact on emerging and developing economies, including India. In order to help the export sector, RBI has raised the limit of export credit refinance from 15 per cent of outstanding export credit of banks, to 50 per cent.
• ·         Lok Sabha Speaker has set up a new Parliamentary Committee on Welfare of Other Backward Classes with B.K Handique as the Chairman. The Commitee will report to both the Houses of Parliament on the action taken by the Union Government and the Union Territories on measures proposed by the Committee. The term of the Committee would be one year and it will comprises of 30 Members, 20 from Lok Sabha and 10 from the Rajya Sabha.
• ·         Inaugurating the Cloud Summit 2012, Union Minister for Communications and Information Technology has said that the government is willing to collaborate with the industry and academia to develop a secure and progressive ecosystem for cloud services in India. The theme of the Summit is “Enabling the Indian Cloud Revolution”. Describing cloud computing as a fine economic solution in a complex knowledge economy, the Minister suggested that the focus could be on Small and Medium Enterprises (SMEs) and the starting point could be clusters, which have commonality of purpose and vision. Cloud computing is a model for on-demand network access to a shared pool of configurable computing resources that can be rapidly provisioned and released with minimal management effort or service provider interaction. Cloud computing is an online service model by which hardware and software services are delivered to customers depending upon their requirements and pay as an operating expense without incurring high capital cost. Cloud computing is a set of services that provide Infrastructure resources using Internet media & applications and data storage on a third party server.
• ·         A new service tax regime has come into force. All services, except 38 services in the negative list, will now attract 12% service tax. The government has also broadened the definition of 'Services' to bring in more activities under the tax net. Services which will not attract the tax include funeral, burial, mutate services and transport of deceased. Coaching classes and training institutions will come under the net, though the tax will not be levied on school, university education and approved vocational courses. Besides, services provided to the government, local authorities or a government authority for the repair and maintenance of an aircraft would also come in the negative list. Also, services provided by advocates to other advocates and business entities up to a turnover of Rs 10 lakh in the preceding financial year is exempt from service tax. Besides, services relating to works contract to a scheme under JNNURM or Rajiv Awas Yojana would also come under the negative list. The new approach to taxation of services is intended to take the country and the economy a step closer towards the introduction of Goods and Service Tax, GST.
• ·         The Centre has launched a special programme in the current kharif season (June to November) which focuses on inter-cropping of pulse crops over other crops and accelerating productivity through adoption of innovative technologies relating to plan nutrition and water use. Three crops - pigeon pea (arhar), green gram (moong) and black gram (urad) - have been selected for the programme. It will promote planting of [1.] pigeon pea with groundnut, soyabean or cotton and moong and [2.] urad with maize, jowar or bajra. To meet the growing demand, stabilized and increased production of pulses is necessary, especially as pulse crops are sown in rainfed areas with little irrigation.
• ·         The government says, the skill development programme - "Hunar" - under the National Institute of Open Schooling will be extended to more girls from the Muslim community to enable them to nurture their skills in different trades such as tailoring, basic computing, preservation of vegetables and fruits and embroidery. "Hunar" was launched in February last year as a part of an endeavour to promote school education and skills among disadvantaged communities.
• ·         Under the 12th five year plan period, the Central Government has set a target to bring 70 million people under the Rashtriya Swasthya Beema Yojana, RSBY. The Central Government is also mulling over the idea of using Swasthya Beema Yojana smart cards for issuing ration cards and Mahatma Gandhi National Rural Employment Guarantee Scheme job cards. RSBY is a health insurance scheme of the Central government, with around 10,000 hospitals across the country offering health services to the downtrodden like construction workers, beedi factory workers, domestic workers and street vendors. RSBY is also considered 18th best programme in the world by International Labour Organisation ILO.
• ·         The Chief Election Commissioner Mr. V.S. Sampath has said electoral reforms will be pursued relentlessly with emphasis being on decriminalization of politics. Under the present loss only the people who are convicted for a certain period or convicted for certain offences, only they are barred from contesting election, whereas for various reasons including delays in the dispensation of justice people who have committed crimes against whom criminal proceedings are pending in various stages, for years, they are able to take advantage of the delays in the system.
• ·         The  government has said that the guidelines for the integrated water shed management programme will be revised within a month as State Governments found the current guidelines rigid and inflexible to their requirement. Mr. Jairam Ramesh said that after deliberations with the State Government it has been found that the current guidelines are very rigid and provide no flexibility to state government according to their requirement. The Minister also expressed the need for authentic data to satellite imagery for effective programme implementation. The States have demanded that the cost of Rs 15,000 per hectare allocated for Naxal affected areas to implement watershed management programme should also be extended to areas with special problems. It is also recommended that the money for the programme on rural development tol be released on NREGA model twice a year based on the yearly action plan of the state government.
• ·         The PMO has planned to establish a coordination committee to attend to diverse aspects of broadband services for panchayats. This will be implemented through a network being set up at an expense Rs 20,000. The creation of the network is a part of the government’s endeavor to provide e-Governance at the panchayat level as it will help electronic delivery of services. It has been recently reviewed by the PMO to create the National Optical Fibre Network to provide broadband connectivity to 2.5 lakh gram panchayats. Bharat Broadband Network (BBNL), a firm created specifically for implementing this project, will lay close to 5 lakh km of cable and connect 2,50,000 gram panchayats. An essential part of the government’s e-governance initiative, it is believed the fibre network would provide economic benefits such as additional employment and help deliver initiatives such as e-health, e-banking and e-education. To ensure proper utilisation, the government has setup a coordination committee consisting of secretaries of various departments such as telecom, IT, panchayati raj and others. Telecom secretary R Chandrashekhar specified 2014 as the deadline for completion of the project at the recently concluded World Education Summit, held in New Delhi.
• ·         The Ministry of Consumer Affairs has made it mandatory to label every package containing Genetically Modified (GM) food from January 1, 2013 so as to educating consumers and making them aware of GM products. Importers or exporters seldom display the GM label on the product. Under the new regulation the consumers will have the freedom to make a preference on whether they want to buy the GM products or not. Genetically modified foods are commonly abbreviated as GM foods or Biotech Foods. These are derived from genetically modified organisms. During genetic modification certain specific changes are introduced into the DNA the organisms by using genetic engineering techniques.
• ·         Renowned scientist Sekhar Basu took the position of director of Bhabha Atomic Research Centre (BARC). He played pivotal role in the development of atomic reactor for India's indigenous nuclear submarine “INS Arihant”. He has also served as the Project Director of the Plutonium Recycling Project, Kalpakkam, which constructed the country's 1st indigenous Pressurised Water Reactor, fuelled by enriched uranium. Basu took place of R K Sinha, who has been raised as Chairman of the Atomic Energy Commission and Secretary, Department of Atomic Energy.
• ·         Shri Jawahar Thakur has taken over as Controller General of Accounts on 1st July, 2012. He belongs to the Indian Civil Accounts Service of 1979 batch. He is known for his initiatives in the area of development of an effective financial management information system.
• ·         Home Ministry has said that as part of a new bid to bring the states around, the Centre may have agreed to limit the power originally proposed to be vested in the NCTC to carry out arrests. The states had objected to the power conferred on the counter-terror body on grounds that it would mark an encroachment on their powers. The Naresh Chandra Committee on national security has suggested the proposed NCTC not be empowered to carry out arrests and searches under the Unlawful Activities Prevention Act. The Centre now proposes to ring NCTC’s power with enough caveats so that it is exercised only as a “matter of last resort”, said a source. Sources also said the Centre is also considering creating the NCTC — conceived as the country’s principal counter-terror agency — outside the Intelligence Bureau in order to get around another major objection the states had raised to deny their consent. The Naresh Chandra Committee has, however, not given such a recommendation.
• ·         It is invisible to the naked eye and originated in the uninhabitable climes of Antarctica. This humble bacteria — known as Psychrophile — holds the potential to solve India’s sanitation problem in the years to come. The Defence Research and Development Organisation (DRDO) is using these bacteria for the bio-digester technology it developed for disposal of human waste in an eco-friendly manner. DRDO has already tiedup with the Indian Railways for bio-toilets on trains. It was Jairam Ramesh, Union minister of rural development, caustic remark in May that got the DRDO involved in installing the odourless bio-toilets that it had developed in rural areas. The minister had rued the fact that while India is capable of launching inter-continental ballistic missiles like Agni and satellites, women still don’t have access to proper sanitation. Ramesh said that the DRDO-developed green toilet project has been proposed to be introduced in 1,000 panchayats soon. 
• ·         With only 25% of set top boxes placed in cable TV homes in four metro cities, the government was forced to postpone the deadline for digitization by four months to November 1, 2012. The move could spell significant financial losses to broadcasters, multi-system operators and others who have invested in equipment and awareness campaigns and were expecting to begin digital operations by July. Digitization is expected to benefit the viewer with a wider choice of channels and better quality while bringing in transparency and accountability in the industry. State governments including Maharashtra and TN had asked for an additional six months time to completely switchover, while West Bengal had not even indicated a timeframe.
• ·         Indications of an El Nino phenomenon developing in August-September grew stronger with Australia’s weather bureau saying that most climate models were pointing to the appearance of the anomaly.  El Nino is the name given to an unusual warming of the ocean surface around the equatorial Pacific. The phenomenon is often associated with bad southwest monsoons in India. Australia’s bureau of meteorology said though temperatures in the tropical Pacific were still within normal range, the ocean was slowly warming up. The Australian update appears to indicate the onset of El Nino conditions more than a forecast released on June 11 by the US National Oceanic and Atmospheric Administration, which put the chances of the phenomenon taking place at 50%. El Nino conditions are said to occur when the monthly average temperature of the ocean surface is at least 0.5°C above normal. If an El Nino does develop in August-September, it could affect the second half of the monsoon. El Nino’s last occurrence in 2009 coincided with the worst monsoon in India in almost 40 years. Before that a weak El Nino occurred in 2002, which again was a drought year in India after 14 good monsoons. However, all El Nino episodes are not linked with failure of the Indian monsoon. For instance, the strongest El Nino in recent time occurred in 1997 but it failed to depress monsoon rains that year. [Click here: Aggriculture, Monsoon & Economy]
• ·         India has started working on one of the most ambitious projects to develop next-generation exascale supercomputing capability, 1,000 times faster than the current supercomputing capacity. “To achieve this capability we would require Rs 11,000 crore investment. The government has already approved Rs 5,000 crore for the same under the 12th five-year plan. We started our supercomputing journey with gigaflop speed, then teraflop, now petaflop. We are now looking at exaflop speed by 2020 with the 10-year long project.” said Dr Vijay Bhatkar, father of India’s first supercomputer PARAM. High power computing is required for accurate prediction of weather among other things. Bhatkar, who is also known as the architect of GIST multilingual technology and Education-To-Home mission apart from the PARAM series of supercomputers, said central government is also considering his recommendation to make it compulsory to provide all public services through electronics.
• ·         As per the industry body Assocham, less than 5% of India's total electronic waste (e-waste) gets recycled due to deficient infrastructure, legislation and framework. Growing at a compounded annual growth rate of about 20%, India annually produces over 4.4 lakh tonnes of e-waste. Percentage of e-waste generated by various means: [1.] Computer equipment: 68%; [2.] Telecommunication equipment: 12%; [3.] electrical equipment: 8%; [4.] medical equipment: 7%; [5.] other equipment + household crap: 5%. Thus, Assocham suggests that used computers and discarded items be collected and donated to schools and orphanages run by non-profit organizations and other agencies involved in social cause. Assocham also requested the government to work together with industry through the chambers to create social awareness among consumers to protect environment, thereby ensuring safe management of e-waste. [Click here for Graphics]
• ·         Union Tourism Minister has said that lack of hygiene and cleanliness in India are a major cause of concern for domestic and international tourists. He said that to address this problem the Ministry of Tourism is launching a major cleanliness drive under Clean India Campaign (CCI) initiative. The CCI will involve other Union Ministries, State and Local Governments, NGOs, students of schools, colleges, and other academic institutions. Further he said, in order to achieve the target of 1% share in the world tourist arrivals and for developing overseas market in the CIS, ASEAN, Middle East and African countries, Ministry is appointing the India Tourism marketing representative (ITMR) in 14 countries across the world.
• ·         Air India Ltd. has constituted a Committee to implement the recommendations of Justice Dharmadhikari Committee report in a time bound manner. Government had set up Dharmadhikari Committee to examine and make recommendations regarding the issues concerned with the integration of staff of erstwhile Air India and Indian Airlines into Air India Ltd including pay, allowances and career progression structure.
• ·         The National Sample Survey Office (NSSO), Ministry of Statistics and Programme Implementation has released the key results of the survey on unincorporated non-agricultural enterprises (excluding construction) conducted in its 67th round survey during July 2010 - June 2011. The main objective of the survey was to get estimates of various economic and operational characteristics of enterprises in manufacturing, trade and other services sector (excluding construction) separately for Own Account Enterprises (OAEs) and Establishments (estt) at national and state level. Some salient findings of the survey are as follows: [1.] Out of the estimated 5.77 crore unincorporated non-agricultural enterprises (excluding construction), about 54 per cent enterprises were located in rural areas and  46 per cent were located in urban areas; [2.] At all India level, 30%, 36% and 34% enterprises were engaged in manufacturing, trading and other services sector respectively. In rural India, these enterprises were more or less equally distributed (between 33 to 34 percent) among broad activity categories. In urban India, enterprises engaged in trading sector had the dominant share (38%) followed by other services sector (35.5%) and manufacturing sector (26.5%); [3.] About 10.8 crore workers were engaged in unincorporated non-agricultural enterprise (excluding construction). While about 51 percent of workers were located in urban areas, 49 per cent were located in rural areas.; [4.] Out of 4.9 crore OAEs, 58% and 42% were in rural and urban areas respectively.
• ·         The Board Reconstruction of Public Sector Enterprises (BRPSE) gave away the BRPSE Turnaround Awards 2012 to two Central Public Sector Enterprises (CPSEs) – Hindustan Copper Ltd. (HCL) and Konkan Railway Corporation Ltd. (KRCL), for having posted profits continuously for three years after their revival.
• ·         Government establishes Metro Advisory Board to formulate & co-ordinate the development plans for several metro rail networks all over India, and to aid & advise the central government in matters relating to Metro Railways. The Board will be headed by the Urban Development Secretary Sudhir Krishna and will have 5 members. In its starting phase the Board will carry studies in 12 cities with over 20 lakh population. The cities are Ahmedabad, Bhubneswar, Delhi, Dharwad, Jaipur, Jammu, Kohima, Mysore, Nanded, Patna, Surat and Vijaywada.
• ·         The government plans to launch financial literacy (Financial & Capital markets) in the school curriculum (primary and secondary) very soon. In India domestic saving has a share of 37-40% of the total savings and only 5% of domestic savings comes into capital markets. Thus, it will enhance the household contribution into equity markets and promote domestic investment, and make Retail investors feel more confident of corporate India. It can seen as a long-term initiative as youth who get this education will understand the importance of these markets and also become more comfortable with such investment. Thus the programme will encourage them to invest in these markets in future. This will in turn infuse domestic capital and reduce the over-dependency on FIIs. A large part of Indian economy is being driven at the mercy of foreign investors which has recently resulted into greater volatility and instability in the market.
• ·         As per a latest study published in the journal Proceedings of the National Academy of Sciences , the 4000 year old Harappan civilization ruined due to the climate change. The study reveals that decline in monsoon rains led to weakened river dynamics, and played a critical role both in the development and the collapse of the Harappan culture which was dependent on river floods to fuel their agricultural surplus. Harappan civilization was one of world’s largest and oldest urban civilizations. It was spread over an area covering plains of the Indus River from the Arabian Sea to the Ganges. It is believed that 10% of the world population lived in the civilization.
• ·         Indian Govt is contriving to overhaul its “e-Governance program MCA21” to check corporate frauds. Work has been started by the MCA on the fresh version of the program. The focus will be to make the whole system transparent and make it a tool that acts as an early warning system against fraud. Key IT companies such as Infosys, TCS and Wipro are anticipated to contend for the mega project. The improvement in the program is chiefly enabled via the mechanism of secure electronic-Filing (e-Filing) for all the services provided by the Registrar Of Companies (ROC) including incorporation of a company, yearly filing, registration of charges and other event based filings. MCA21 is a key flagship e-Governance initiative of 21st century by the Ministry of Company Affairs India under the National e-Governance Plan (NeGP). The programme was launched at Coimbatore on February 18, 2006.
• ·         The President has appointed the senior-most Election Commissioner, Shri V.S. Sampath as the Chief Election Commissioner in the Election Commission of India.
• ·         With a view to ameliorate the living conditions of the urban poor, the Ministry of Housing & Urban Poverty Alleviation has comprehensively revamped the scheme of Swarna Jayanti Shahari Rozgar Yojana (SJSRY) with effect from 2009-2010. The revamped SJSRY scheme (which was launched in 1997) is aimed at providing gainful employment to the urban unemployed and under-employed poor, through encouraging the setting up of self employment ventures by the urban poor living below the poverty line, skills training and also through providing wage employment by utilizing their labour for construction of socially and economically useful public assets. As per the Estimates of Poverty released by the Planning Commission, the estimated number of urban people living below poverty line in the year 2004-2005 was 807.96 lakhs.
• ·         Considering the need of the large population of Persons with Disabilities which, as per 2001 census is 2.1 crore, the Central Government has recently created two Departments under the Ministry of Social Justice & Empowerment: [1.] Department of Social Justice and Empowerment; [2.] Department of Disability Affairs. The subject of “Disability” figures in the State List in the Seventh Schedule of the Constitution. It also figures in the illustrative list of items for devolution to Panchayati Raj and Municipal bodies (in accordance with relevant State laws) as given in the Eleventh and Twelfth Schedules of the Constitution. Notwithstanding this, the Govt. of India is running seven National Institutes (NIs) dealing with various types of disabilities and seven Composite Regional Centres (CRCs), which provide rehabilitation services to PwDs and run courses for rehabilitation professionals, but also funds a large number of NGOs for similar services, and also a National Handicapped Finance & Dev. Corporation (NHFDC) which provides loans at concessional rates of interest to PwDs for self employment.
• ·         National Environmental Engineering Research Institute (CSIR-NEERI) has developed indigenous and economically feasible method to reduce high fluoride content in potable water, which has possible domestic and community applications. The household unit costs about Rs 2000 and the cost of treatment is around 20 paise/ litre. The units are appropriate for the small fluoride-affected villages where community water supply schemes are not economically feasible. The excessive fluoride component causes Bone deformations of children, dental fluorosis, toxicity and it is hazardous if it comes in direct contact with skin or eyes. According to the WHO level of fluoride can be from 0.5 to 1.0 mg/L (milligrams per litre), depending on climate.
• ·         Gram Tarang conferred with the overall best performer by the National Skill Development Corporation (NSDC) for the year 2011-12. With a mission of catalyzing sustainable livelihoods in the less developed markets across the globe Gram Tarang (social entrepreneurial extension of Centurion University) is currently providing training across trades like industrial sewing machine operator, fitter & machinist, welder, CNC operator other and production-related functions, as well as trades in the services sector like financial inclusion (banking correspondents) and data entry operators. NSDC is a first-of-its-kind Public Private Partnership (PPP) in India set up to facilitate the development and upgrading of the skills of the growing Indian workforce through skill training programs, especially in the unorganised sector in India by funding skill training and development programmes.
• ·         Ghazal maestro Mehdi Hassan passed away. He migrated to Pakistan at the time of Partition in 1947. Awards conferred on him: [1.] Tamgha-i-Imtiaz (Gen Ayub Khan); [2.] Pride of Performance (Gen Ziaul Haq); [3.] Hilal-i-Imtiaz (Gen. Pervez Musharraf); [4.] Saigal Award (India); [5.] Gorkha Dakshina Bahu Award (Nepal).
• ·         The Ministry of Labour & Employment has made adequate statutory provisions for safety, health and welfare of workers. For strengthening preventive and promotive health services including occupational health services under ESI Medical Scheme, Employees State Insurance Corporation (ESIC) has taken several steps which are as under: [1.] Action plan has been drawn for prevention of occupational diseases; [2.] Health check up camps are being organized at work places for identification of occupational diseases amongst ESI Workers; [3.] Five Occupational diseases centers have been set up by ESIC in Delhi, Kolkata, Chennai, Indore and Mumbai. Some of the examples of occupational diseases are Byssionosis, Noise Induced Hearing Loss, Asbestosis, Silicosis, Lead poisoning, Occupational or contact dermatitis, Nasal Septum Perforation etc.
• ·         Pranab Mukherjee’s candidature for President has not only divided the UPA & NDA but also the Left, with the CPM and Forward Bloc pledging their support for the finance minister and the CPI saying it would not support the Congress’s policies. Bengal factor seems to have played a part in the CPM decision with some leaders seeing it as an opportunity to widen the wedge between the Congress and Trinamool. CPM general secretary Prakash Karat said Mukherjee, “in the present situation, is the candidate with the widest possible acceptance”. Meanwhile, the BJP has decided to support P A Sangma, saying it could not give the government a walkover. Sangma is also supported by the AIADMK and Naveen Patnaik of the BJD. Pranab has the support of the Shiv Sena and the JD(U), constituents of the NDA, besides the SP and the BSP. The Trinamool has still not pledged it's support to either candidate in the wake of Dr. APJ Abdul Kalam opting not to contest. All about Presedential Election: The term of office of Smt. Pratibha Devisingh Patil, President of India, ends on 24th July, 2012. An election to fill the vacancy caused by the expiration of the term of office of the outgoing President shall need to be completed before the expiration of her term. Article 324 of the Constitution read with the Presidential and Vice-Presidential Elections Rules, 1974 vests the superintendence, direction and control of the conduct of election to the office of the President of India in the Election Commission of India. The President is elected by the members of the Electoral College consisting of: [1.] elected members of both Houses of Parliament, and [2.] elected members of the Legislative Assemblies of all States including National Capital Territory of Delhi and the Union Territory of Puducherry. Article 55 of the Constitution provides that the election shall be held in accordance with the System of Proportional Representation by means of single transferable vote and the voting at such election shall be by secret ballot. The Election Commission has decided to appoint the Secretary General to the Rajya Sabha as the Returning Officer for the election. Normally, members of Parliament are expected to cast their votes at New Delhi and members of all respective State Legislative Assemblies at the concerned State’s Capital. However, on account of any exigency for special circumstances, the Members of Parliament can vote in any of the polling stations in the State Capital. Similarly, any MLA desirous of voting at New Delhi or at any other State Capital instead of voting in the relevant State Capital can also do so. The Constitution (84th Amendment) Act, 2001 provides that until the relevant population figures for the first census to be taken after the year 2026 have been published, the population of the States for the purposes of calculation of value of votes for the Presidential Election shall mean the population as ascertained at the 1971-census. The election to the Office of the President, to be held in the next, will be the fourteenth of its kind. The earlier elections to this office were held in 1952, 1957, 1962, 1967, 1969, 1974, 1977, 1982, 1987, 1992, 1997, 2002 and 2007. In the 7th Presidential Election, Shri Neelam Sanjeeva Reddy was Elected unopposed (First time a candidate was declared elected to the highest office of President of India without a contest).
• ·         Water-starved Delhi, which has to depend on its neighbours – and to some extent on a rapidly diminishing groundwater supply – has turned to Singapore for its NEWater – treated waste water that is collected through the Deep Tunnel Sewerage System (DTSS), an underground network, built with an eye on the future. Singapore Story: “Singapore relies on neighbour Malaysia for about 40% of its water consumption but the agreement will end in 50 years. Anticipating a crunch, the Singapore Water Reclamation Study was initiated in 1998 as a joint initiative between the Public Utilities Board (PUB), the national water agency, and the ministry of environment and water resources. Now there are five NEWater plants that cater to about 30% of the demand.” How it Works: “Treatment of the waste water involves a three-stage process, starting with microfiltration, moving to reverse osmosis and ending with ultraviolet rays. In Delhi, a water reclamation plant with a capacity of 40 million gallons per day will be set up at the Coronation Pillar sewage treatment plant. The STP will supply with treated effluent which will be put through a secondary level of treatment and then returned to the river about 20 km upstream of Wazirabad for mixing with our raw water supply.”
• ·         The Prime Minister met and congratulated over 150 tribal students from Maoist affected areas of Chhattisgarh, who have cleared IIT-JEE and AIEEE. The Chief Minister of Chhattisgarh, Raman Singh who accompanied the students, told the Prime Minister that the students were a part of the first batch of students of "PRAYAS", a special initiative of the state government.
• ·         In Assam, relief and rescue operations are on in the flood affected areas by National Disaster Response Force (NDRF), State Disaster Response Force (SDRF) and Army. Meanwhile, the death toll due to flood and landslides mounted to 104. The Asom Gana Parishad has urged the Centre to declare Assam’s flood as a national problem. The recent flood wave damage 48 thousand hectare cropland and infrastructure across the state. Assam Government has asked the Centre to grant 680 crore rupees for the restoration of National Highways and state roads.
• ·         In Gujarat, migratory birds, including the Pied-Crested Cuckoo, Florican Black Partridge and the Rain Quil, have been spotted in the Kutch region during last few days, which is a strong indication of the onset of Monsoon. According to an ornithologist, the migratory birds arrive in the sub-continent around this time of the year, riding the seasonal winds of the south-west monsoon. These birds come from South Africa and camp in the region till the beginning of November. The Little Rann of Kutch, one of the largest wet lands the world, becomes a haven for the migratory birds in the winters including the Flamingos.
• ·         Assam Government is likely to increase reservation for women in local bodies to 50 per cent, up from the current 33 per cent. Chief Minister Tarun Gogoi said that the state has considerably recorded an increase of women representation in local bodies and active participation of women self-help groups in rural areas boost up the state’s economy. Official data revealed that in the last local bodies election, women candidates won 38 percent in gram panchayts, 36 percent in anchalik panchayats and 35 percent in zilla parishads. As the next panchayat poll in the state is scheduled for next year, government also announced that panchayat bodies with over 50 percent representation will be awarded.
• ·         In Jammu and Kashmir, at Leh district, the three-day annual tourists promotional Sindhu Festival has begun on the bank of Indus River. It is being celebrating by the tourism department to promote Ladakh as tourists destination in the country. The festival is also a symbolic salutation to the brave soldiers of the country, who endanger their life to safeguard the nation. Sindhu Darshan Festival was celebrated 1st time in the year 1997
• ·         In Jammu and Kashmir, after a multiple land and snow slides occurred, around 400 civilians & tourist trapped at Khardung La pass on Srinagar-Leh National Highway have been rescued. The Khardung La pass, one of the highest motorable passes in the world, is at a height of 17,800 feet in the cold desert area of Ladakh. The 434-km long highway was opened for traffic on April the 25th, after remaining closed for five months due to heavy snow.
• ·         IIT-Kanpur has decided to conduct its own entrance exam from next year. The Senate of IIT Kanpur said that the recent IIT Council proposal on admissions to IITs is academically and methodically unsound and in violation of the Institutes of Technology Act (1961) and IIT Kanpur Ordinances (Ordinance 3.2 (Admissions).
• ·         The launch of the first ever India Food Banking Network (IFBN) was announced making Delhi be the first city in the country to set up food banks. Through these banks excess cooked and uncooked food will be collected from wedding receptions, parties, social functions, hotels and individual donors for distribution among hungry and poor people. The scheme is being modelled on the lines of food banks in Chicago in the US where community groups run them to feed hungry people by collecting excess food from hotels, wedding reception and through voluntary donations from individuals as well as various organisations. The Food Bank project has been launched after a comprehensive three-year feasibility and site analysis in Delhi under the leadership of Sam Pitorda, Advisor to the Prime Minister on Public Information Infrastructure and Innovations.
• ·         In Gujarat, first ever talking ATM (specially designed for visually impaired people) of the country has been made operative by Union Bank of India in Ahmedabad. Managing Director of Union Bank of India has said that this is the part of social obligation of the public sector bank to reach out each and every person in the society under the Government of India's financial inclusion program.
• ·         Considering the backwardness of the Vidarbha region and the water scarcity, the Cabinet Committee on Infrastructure has approved the Special Assistance to Bodwad Parisar Sinchan Yojana of Maharashtra. The Bodwad Parisar Sinchan Yojna which is situated in the Jalgaon & Buldana district of Maharashtra which envisages lifting of water from Hatnur reservoir and conveying the water to two storage reservoirs. The Jalgaon district is included in the category of Drought Prone Area (DPAP), while the Buldana district is in the Vidarbha region of Maharashtra.
• ·         A group of scientists from the ICAR (Indian Council for Agricultural Research), ICAR, Agartala, Tripura have made the breakthrough of wonder seeds which need less land and give high yield. The unit of Tripura has been experimenting these seeds for the last 8 years.
• ·         The 11th Pravasi Bharatiya Divas will be hosted by Cochin from 7th to 9th January in 2013. The President of India will deliver the valedictory speech and also present the Pravasi Bhartiya Samman Awards. Also, Kerala will be the partner State of the 11th Pravasi Bharatiya Divas which would offer the Diaspora an opportunity to appreciate the vivacious culture and potential of the State
• ·         Haryana health department all equipped to have online surveillance of maternal and infant death and stillbirth cases in the state to cut Maternal Mortality Rate (MMR) and Infant Mortality Rate (IMR). It will also provide an online reporting system to immediately record every death of mother and infant, in any part of the state, and reduce systematic defects and gaps in reporting system and to ensure timely services to make suitable administrative corrections. For this purpose Haryana Health Department has created a website which is expected to be launched very soon.
• ·         Farmers in Maharashtra who are yet to obtain loans from cooperative banks can now expect them from commercial banks. The state govt will soon take measures to assist Regional Rural Banks (RRBs) utilize the infrastructure of primary agriculture cooperative societies, which would distribute crop loans from commercial banks. To ensure availability of crop loans from commercial banks District Central Cooperative Banks (DCCBs) would function as business correspondents of the Maharashtra State Cooperative Bank. The commercial banks demanded the government to examine the recovery of stamp duty on loan for amounts more than Rs1 lakh granted for agriculture-allied activities in the state. Presently, according to the government resolution of 1990, stamp duty is exempted only for loans worth Rs 10,000 granted for agriculture-allied activities.
• ·         As a first in the country, Tamil Nadu State Information Commission (TNSIC) will provide RTI replies in Braille. As per the TNSIC more than 7 lakh visually challenged people would get the benefits through this step. If an RTI application seeks information in Braille, the printed reply from the commission will be forwarded to National Institute for the Visually Handicapped for its conversion into Braille.
• ·         Haryana’s Kurbanpur village of district Ambala became the 1st village of the country to put the land records of all its farmers on satellite. This will benefit farmers as now the farmers need not go to Patwari to get copy of their land records, they can download a copy of their land records from the year 1957 to till date.
• ·         North Eastern states have insisted on “revision” of the centre sponsored North East Industrial and Investment Promotion Policy (NEIIPP), 2007 to shift attention from heavy industry to micro and small scale sector as the current policy will be expire in 2013. As per the North East Industry Ministers’ Forum (NEIMF) there is a constraint of availability of land for big investment in the North Eastern states. NEIMF has demanded the Centre to form MSME (Micro, Small and Medium Enterprises) Bank to finance business endeavors of 1st generation entrepreneurs in the region. In the last 5 years pharmaceuticals, cement, hotels and resorts, plastic based industry, power plants and healthcare sector have attracted big investment proposals for the region.
• ·         The world’s highest rail bridge being constructed over Chenab river in Jammu & Kashmir’s Reasi district will be ready by December 2015. Coming up at Kauri, it will be 359 m (1,180 ft) above the riverbed — five times the height of Qutub Minar and 35 m taller than Eiffel Tower. Observing that wind speed at its height may go up to 266 kmph, the engineers have decided not to allow trains crossing the Chenab bridge if the wind velocity is more than 90 kmph. The railways has designed the signalling system at the bridge in such a manner that it shows the top light automatically when wind speed breaches the 90 kmph mark. Considering the inaccessible terrain of the Himalayas, the bridge will get a special coat of paint with a life span of around 35 years to protect it from harsh weather.
• ·         The Uttar Pradesh government has cleared the decks for setting up the state’s first Mega Food Processing Park at Jagdishpur in Sultanpur district. The mega food park is expected to leverage UP’s position as a leading supplier of raw materials — wheat, sugar, potato, milk and livestock — in agriculture. The scheme is expected to raise India’s processing of perishables from the existing 6% to 20%, value addition from 20% to 35% and the share in global food trade from 1.5% to 3% by 2015. In this light, the current project is expected to tap into UP’s potential by developing the value chain from the farm to the market. The scheme aims to provide excellent infrastructure — transportation, logistics, centralised processing centres, effective supply chain, processing, packaging and environment protection systems, quality control laboratories and trade facilitation centres. MFPs will be run by Special Purpose Vehicles (SPVs), each of which will have at least 3 entrepreneurs or business units which will be independent of each other, and with no common directors.
• ·         Delhi has achieved an impressive growth rate of 11.3% in 2011-12, which was much above the national figure of 6.5% despite a slowdown in the country’s economy. The gross state domestic product (GSDP) of Delhi at the current prices for 2011-12 has been estimated at Rs 3,13,934 crore against Rs 2,64,496 crore in 2010-11. Delhi’s contribution to the GDP of the country was 3.8% in 2011-12 while having 1.4% share in its total population. The growth rate of Delhi in the Eleventh Plan period was 11.46% compared to 7.9% at the national level. [Click here: GDP growth in bwd states]
• ·         IIT-Delhi will soon set up its extension campus of 50 acres in Rajiv Gandhi Education City in Sonipat, just a few kilometres from the capital’s border. The 2,000-acre Education City, which was launched on Sunday, is the first-of-its-kind in the country, housing dozens of campuses of higher education institutes. The land at Sonipat will be used for activities like faculty development, incubation and setting up science and technology park, which would contribute in the growth of Haryana. Education City is being developed on the pattern of Oxford University, the government claimed. Besides regular courses like management, information technology and computer sciences, it would also house institutes offering courses in bio-medical engineering, bio-technology, nanotechnology, defence research and film and media studies. The state government has reserved 25% of all seats for students from Haryana.
• ·         In Punjab, to increase the depleting underground water table and help farmers financially, Punjab Agriculture Department has finally adopted direct sowing technique for Paddy instead of the old traditional technique of pudding the field for transplanting it. The direct sowing technique means in which one would not require field full of water. Paddy can be sown like any other crop and watered after regular intervals. This way farmers could not only help underground water table to come up but would also increase the production.
• ·         Maharashtra government has decided to install cradles outside the government-run hospitals across the state in order to save the lives of kids abandoned by their parents and will also facilitate primary treatment to them. The minister said, if somebody keeps their kid in the cradle the Child Welfare Committee will take care of that child and its life can be saved.
• ·         Govt approved for establishing an autonomous organization North-East Centre for Technology Application and Reach (NECTAR). It will be established at Shillong and will be completed in 12th Plan period. The motive behind NECTAR is to promote application of carefully selected technologies originating from the public funded research institutions under the government.
• ·         India's first IT Investment Region (ITIR) for knowledge-based industries, including software and hardware firms with entire supply chain, to come up in Bangalore. It’s proposed to pull in global investments to the tune of Rs 2 trillion and create a million direct jobs over the next 10 years. It will built under the PPP (Public-Private Partnership) model with joint investment by the central and state governments. It will also have a hardware park for electronics cluster, including chip designing and manufacturing units, with world class infrastructure facilities including residential township, an airstrip, high-speed rail network, shopping plaza, hospitals, schools and recreational facilities for the communities living there. Companies in the region will be entitled to tax benefits and other incentives akin to the SEZ policy by the central government. Andhra Pradesh and Tamil Nadu are two other States which have also proposed for a similar proposal in their regions
• ·         Delhi has been named the most competitive city in India, though only the 68th in the world, in a recent study ranking 120 cities in terms of their ability to attract capital, business, talent and tourists. The Economist Intelligence Unit research report has ranked Delhi ahead of Mumbai (ranking 70), Bangalore (79), Ahmedabad (92) , Pune (97), Hyderabad (98), Chennai (105) and Kolkata (106). In terms of “economic strength”, the most highly weighted category, 15 of the top 20 cities are in Asia of which two are from India — Bangalore (16) and Ahmedabad (19). According to the report, the most competitive city in the world is New York, followed by London and Singapore.
• ·         ITC Limited bagged the 2012 World Business and Development Award at the Rio+20 UN Summit at Rio de Janeiro, Brazil. The award has been conferred on ITC in recognition to ITC’s transformational rural initiatives in social and farm forestry programs in India. ITC's social and farm forestry programs offer sustainable livelihoods to rural wasteland holders by assisting them transform their wastelands into pulpwood plantations. ITC's research and development unit supplies then with high-yielding, disease resistant clonal saplings with shorter harvesting cycles. Farm forestry targets farmers owning wastelands. Thus, with this reviving green cover on such a large scale has not only facilitated carbon sequestration but has also enhanced moisture conservation, groundwater recharge and has reduced erosion.
• ·         Pakistan freed Indian prisoner Surjeet Singh who has served a life term following his arrest on charges of spying in the 1980s. He was arrested by Pakistani police on allegations of spying during the rule of military ruler Zia-ul-Haq. Initially, Singh was awarded the death sentence under the Pakistan Army Act in 1985. Later, in 1989, the death sentence was commuted to life imprisonment by then President Ghulam Ishaq Khan.
• ·         The prestigious Yale University today announced the appointment of Indian American academician Anjani Jain to a top university position.
• ·         Oscar-winning com poser A. R. Rahman who is reuniting with Danny Boyle, to compose a song for London Olympics opening ceremony, will celebrate Indian influence in UK, by including a Punjabi track in it.
• ·         In a keenly contested election, eminent Indian scientist Sivaramakrishnan Rajan has been re-elected to an entity under the United Nation's body focussed on oceans and law of the sea. Rajan was India's candidate to the Commission on the Limits of the Continental Shelf which is tasked with facilitating implementation of the United Nations Convention on the Law of the Sea. He will serve as member of the Commission for a five-year term from 2012-17.
• ·         Domestic tourism in the country has increased by 13.8% during the last year. The top ten States in terms of number of domestic tourist visits (in millions), during 2011, were Uttar Pradesh (155.4), Andhra Pradesh (153.1), Tamil Nadu (137.5), Karnataka (84.1), Maharashtra (55.3), Madhya Pradesh (44.1), Rajasthan (27.1), Uttarakhand (25.9), West Bengal (22.3) and Gujarat (21.0).The contribution of top 10 States was about 85.3% to the total number of domestic tourist visits during 2011. Further, In 2011 the number of foreign tourist visits to States/UTs registered a growth of 8.85% over 2010 as compared to a growth of 24.6% in 2010 over 2009.. The top ten States in terms of number of FTVs (in millions) during 2011 were Maharashtra (4.8), Tamil Nadu (3.4), Delhi (2.2), Uttar Pradesh (1.9), Rajasthan (1.4), West Bengal (1.2), Bihar (0.97), Kerala (0.73), Karnataka (0.57) and Himachal Pradesh (0.48). The contribution of top 10 States was about 90.1% to the total number of FTVs in the country during 2011.
• ·         According to Datamonitor's 2012 global wealth market report, India ranked 6th on Inclusive Wealth Index (IWI) per capita that listed top 20 selected countries on the basis economic performance assessed between 1990 and 2008. The IWI is a more holistic measure which considers full range of assets such as manufactured, human and natural capital, which shows a country’s actual wealth and sustainability. The Inclusive Wealth Index (IWI) seeks to measure the social value of capital assets of nations beyond manufactured capital. The focus on this new measure gained attention in Rio+20 as it emphasized on the “Green Economy”. The report said, the world order of wealth markets is witnessing a tilt towards emerging economies which are expected to overtake their Western European counterparts going forward. The 20 countries together responsible for around 3/4th of global GDP during this twenty-year time. This was disclosed by the United Nations University and UN development Programme in the run-up to Rio+20. Despite having GDP growth, China, the US, South Africa and Brazil were found to have considerably eroded their natural capital base. This includes both renewable and non-renewable resources, such as fossil fuels, forests and fisheries. Natural resources per capita declined in the US and in China by 20% and 17 % respectively. Of the 20 countries surveyed, Japan was the only country which did not registered decline in its natural capital base, due to significant increase in forest cover. If only GDP is considered, China and the US grew by 422 % and 37 % respectively. Once the IWI was applied, the corresponding figures decline to 45 %and 13 % respectively. India is among the high population growth countries, including Nigeria and Saudi Arabia, which have shown considerably lower IWI growth. This negative trend will keep on going unless steps are taken to enhance natural the capital base or cut population growth. Six countries who witnessed decline in their inclusive wealth are Russia, Venezuela, Saudi Arabia, Colombia, South Africa and Nigeria. Countries witnessing diminishing returns in natural capital should invest in renewable natural capital to improve their IWI and the well-being of their citizens. Example investments include reforestation and agricultural biodiversity Nations should incorporate the IWI within planning and development ministries to encourage the creation of sustainable policies Countries should speed up the process of moving from an income-based accounting framework to a wealth accounting framework Macroeconomic policies should be evaluated on the basis of IWI rather than GDP per capita Governments and international organizations should establish research programmes to value key components of natural capital, in particular ecosystems.
• ·         India dropped in the Global Innovation Index (GII) ranking of 2012 to 64th position from 62nd in 2011 which is lowest among the BRICS nations (B:58, R:51, I:64, C:34, S:54). Switzerland, Sweden and Singapore secured the top 3 positions in the GII rankings. The Global Innovation Index 2012 was released by France-based international business school (INSEAD) and World Intellectual Property Organisation (WIPO), a specialized agency of the United Nations, along with the Confederation of Indian Industry (CII). However, the nation ameliorated its position in innovation efficiency from 9th to 2nd position (B:38, R:43, I:2, C:1, S:116).
• ·         According to Global rating agency Fitch, India, China and Korea -- three most powerful emerging Asian economies -- are exhibiting delayed effects of tight monetary policies introduced in 2010-11 to tackle inflation. According to Fitch, India's WPI inflation was 7.55% and the Consumer Price Index (CPI) inflation was 10.36% for May 2012. Also, India's GDP plunged to nine-year low of 5.3% for the three months ended March 2012. The overall growth for 2011-12 stood at 6.5%
• ·         Releasing the United Nations Millennium Development Goals, MDGs report, 2012 in New Delhi it was noted that the India has made a significant progress in enrolling children in schools but drop out rates continue to be the highest in the developing countries. The main highlights the MDG report this year are that for the first time, since poverty trends began to be monitored, both the number of people living in extreme poverty and the poverty rates have fallen in every developing region, including sub-Saharan Africa, where rates are highest. This means that the MDG first target of cutting extreme poverty rate to half its 1990 level has been achieved at the global level, well ahead of 2015. However, still much pro-active steps need to be taken to prevent the present economic crisis from affecting employment opportunities of the population, especially the vulnerable sections of the society.
• ·         1600-km long India’s Western Ghats mountain chain, which possesses forests older than the Himalaya Mountains, has been added to list of world heritage sites by the UN. UNESCO held that the Western Ghats mountain chain is discerned as one of the world's 8 hottest hotspots of biological diversity. The World Heritage Committee meets once a year, and is liable for the enactment of the UNESCO World Heritage Convention, which defines the kind of natural or cultural sites which can be considered for dedication on the World Heritage List. Some facts: The Western Ghats, is a mountain range which runs, about 1600 kms, North to South, along the western edge of the Deccan Plateau. It originates near the border of Gujarat and Maharashtra, and runs through the states of Maharashtra, Goa, Karnataka, Tamil Nadu and Kerala, finally ending at Kanyakumari. There are numerous protected areas designated by the Government of India in the Western Ghats. They include two bio reserves and thirteen National Parks. The Nilagiri Biosphere Reserve that comprises 5500 square kms of evergreen and deciduous forests forms an important part of the Western Ghats. The Silent Valley National Park in Kerala, which forms part of the Western Ghats, is one among the last tracts of virgin tropical evergreen forest in India. In August, 2011, the Western Ghats Ecology Expert Panel (WGEEP) designated the entire Western Ghats as an Ecologically Sensitive Area (ESA). The panel also assigned three levels of ecological sensitivity to its different regions. In 2012, thirty nine places in the Western Ghats region have been declared as World Heritage Sites by the UNESCO. [Click here to read more]
• ·         The US circulated a “nonpaper” on India’s membership at the Nuclear Supplier Group, NSG plenary meeting held in Seattle on June 22. The most controversial part of the paper is that being an NPT signatory not be seen as a “condition” for NSG membership. The “food-for-thought” paper took forward its suggestion for India’s membership that the US had circulated at the last plenary in Noordwijk last year. With the US at the helm of the NSG this year, India feels its chances of securing a membership of the non-proliferation quartet — NSG, Wassenaar Arrangement, Australia Group and MTCR — are better than ever before. India has done a bit of lobbying with other NSG members as well. Foreign minister S M Krishna met his Canadian counterpart recently to discuss the issue, while sources said some countries had watered down their objections. China remains an outlier when it comes to India’s own membership, and New Delhi wants Beijing to get off the bench.
• ·         As per the Visa's 2012 Global Financial Literacy Barometer survey conducted among over 25,000 people in 28 countries Indians are among the least financially literate people in the world with youth and women struggling most with their finance literacy due to lack of discussions within the families on money management issues. As per the survey, India stood at 23rd position among the 28 countries surveyed, with only 35% of its Population Financially Literate (PFL), while Brazil topped the chart with 50.4% PFL followed by Mexico: 2nd position with (47.8%) PFL, Australia: 3rd (46.3%) PFL, US: 4th (44.6%) PFL and Canada: 5th (43.8%) PFL. It was also found that Indian families devote only 10 days a year to discuss money management issues with their children compared with the global average of 19 days a year. Average savings kept by Indians for an emergency is 1.9 months which is close to the survey average of 2 months. China led in this section with 3.9 months of savings for an emergency, followed by Taiwan with 3.7 months, Hong Kong with 3.5 months and Japan with 3.3 months. As per the survey 43% women and 20% men agreed that they did not comprehend personal finances.
• ·         India successfully test fired indigenously developed surface-to-air ‘Akash’ missile of Air Force version from the Integrated Test Range (ITR) at Chandipur in Balasore district off Odisha coast. This is the fifth successful trial of the anti-aircraft system in the last fortnight. Akash missile, with a strike range of 25 km and capable of carrying warhead of 60 kg. The development of Akash missile took place during 1990s under the country’s Integrated Guided Missile Development Programme (IGMDP) and after many trials, it was inducted into the armed forces. Defence experts have often compared Akash missile system with the American MIM-104 Patriot surface-to-air missile system. They say that Akash missile, like MIM-104, is capable of neutralising aerial targets such as unmanned aerial vehicles, fighter jets, cruise missiles and air-to-surface missiles.
• ·         India’s nuclear weapons arsenal, its command and control structures as well as the state of operational readiness came up for a detailed review at a toplevel meeting called by Prime Minister Manmohan Singh. The “top-secret” meeting of the Nuclear Command Authority (NCA), attended by ministers who are part of the Cabinet committee on security, national security advisor and the three Service chiefs, among others, stressed the need for ‘faster consolidation’ of India’s nuclear deterrence. The “delay” in the longstanding aim to have a fully operational nuclear triad — the ability to fire nukes from land, sea and air — also figured in the meeting of the “political council” of NCA, which is the country’s solitary body that can authorize the use of nuclear weapons. The NCA meeting, barely held twice a year to assess the steps being taken to “manage” the nuclear arsenal, comes in the backdrop of Pakistan once again brandishing its “tactical nuclear weapons” with another test of its 60-km Nasr missile in May.
• ·         The first prototype of the hypersonic BrahMos 2 cruise missile capable of flying at speeds of Mach 5-7 is being jointly developed by Russia and India will be ready for flight testing in 2017, an official said. The new missile would be made in three variants ground-launched, airborne, and sea-launched. The new missiles would be supplied only to India and Russia, without being exported to other countries. The BrahMos missile has a range of 290km and can carry a conventional warhead of up to 300kg. It can effectively engage targets from an altitude as low as 10 metres and has a top speed of Mach 2.8, which is about three times faster than the US-made subsonic Tomahawk cruise missile. Sea and groundlaunched versions have been successfully tested and put into service with the Army and the Navy. The flight tests of the airborne version will be completed by the end of 2012.
• ·         Delhi and Mumbai, two of the most vital metros, have been chosen for DRDO’s ballistic missile defence (BMD) system that can be put in place at a short notice. The proposal is being prepared for final clearance from the Cabinet Committee on Security. The sites for installing radars to track enemy missiles and storing counter-attack projectiles will be determined during the planning stage, they said, adding that these locations must have adequate stealth feature and protection against sabotage. To ensure maximum protection against air-borne threats, the DRDO will put a mix of counter-attack missiles, which will be able to shoot down enemy missiles both within the atmosphere and outside it. The BMD system will require minimum human intervention due to the complete automation of tracking devices and counter-measures. Human intervention will be required only to abort the mission, the sources said. The system will later be used to cover other major cities. The system, which has undergone successful tests, can destroy an incoming missile with a range of up to 2,000 km. DRDO had used variants of Prithvi missiles as simulated targets and successfully intercepted them. It is all set to be upgraded to the range of 5,000 km by 2016. The BMD was first testfired in 2006, elevating India into the elite club of countries to have successfully developed an anti-ballistic missile system after the US, Russia and Israel.
• ·         India and Japan will hold their first bilateral naval exercise JIMEX 12 (Japan India Maritime Exercise 2012) off Tokyo. 4 Indian warships including the INS Rana, INS Shakti and INS Shivalik are in Tokyo harbor to celebrate 60 years of establishment of diplomatic relations between the two countries. The objectives of JIMEX 12 are Maritime Security Cooperation, Humanitarian Aid & Disaster Relief (HADR) operations and Visit, Board, Searchand Seizure (VBSS) drills. The two countries also intend to increase cooperation in anti-piracy operations off the coast of Somalia in the Gulf of Aden and launch a maritime dialogue mechanism. The warships of the two navies are coordinating in patrolling in the Gulf of Aden to help escort a larger number of cargo vessels sailing through the troubled waters there.
• ·         The Second Meeting of the Intergovernmental Committee for Nagoya Protocol (ICNP-2) on Access and Benefit Sharing is being held in New Delhi. The Nagoya Protocol on Access and Benefit Sharing (ABS) is a n ew international treaty adopted under the auspices of the Convention on Biological Diversity (CBD) after six years of intense negotiations. The CBD, one of the three agreements adopted during the Earth Summit in 1992, is the first comprehensive global agreement which addresses all aspects relating to biodiversity. The Convention, while reaffirming sovereign rights of nations over their biological resources, establishes three main goals: (i) conservation of biological diversity, (ii) sustainable use of its components and (iii) fair and equitable sharing of benefits arising out of the use of genetic resources. A framework for implementing the third objective of the CBD, which is generally known as access and benefit sharing (ABS), is provided for in the Convention. ABS refers to the way in which genetic resources may be accessed, and the way in which benefits that result from their use are shared between people or countries using the resources and the people or countries that provide them. At the concluding session, India announced that it would give equivalent to one million US$ for participation of Ministerial Level Representatives from the Least Developed Countries (LDC) in the High Level Segment of Convention of Parties (CoP-11) which is scheduled to be held in October 12, 2012 in Hyderabad.
• ·         The first edition of the "India: the Incredible Investment Destination", Conference began in the Saudi Arabia Capital Riyadh. As India embarks on upgrading infrastructure with an investment over $1 trillion over the next five years, it is looking for partners. A series of measures have been undertaken to make the investments very attractive and rewarding. These include recent policy initiatives like the new Qualified Foreign Investors, QFI route, changes in the External Commercial Borrowing Guidelines and initiatives to encourage investments in the infrastructure sector.
• ·         India and China agreed to enhance their defence and security dialogue and to take measures to ensure that the two countries reach a $100 billion trade target by  2015. It was decided on the sidelines of the Ri0+ 20 summit at Rio De Janeiro. The special representatives of both the nations would submit a report on the developments so far by January 2013. India would establish inter-ministerial group on its part while China would organize an official team that would periodically share views on maritime matters pertaining to trade & security.
• ·         External Affairs Minister is on a two day visit to Dushanbe, the capital of Tajikistan to hold talks with the Tajikistan leadership on India-Tajik bilateral relations and on the situation in the region. The visit assumes significance as the strategically located Central Asian country shares borders with Afghanistan, Uzbekistan, Kyrgyzstan and China. Also, a narrow strip of land separates it from Pakistan-occupied Kashmir. The ties between India and Tajikistan deepened in the late 1990s, when they came closer following rise of Taliban in Afghanistan. The ties further deepened since 2002, especially in the areas of counter-terrorism and defence cooperation.
• ·         India and Pakistan have reaffirmed their resolve to make serious, sustained and result oriented efforts for seeking an amicable resolution of Siachen. Both sides acknowledged that the ceasefire was holding since 2003. It was agreed that the next round of talks on Siachen will be held in New Delhi on mutually convenient dates, to be fixed through diplomatic channels.
• ·         India and Pakistan failed to make any headway on their maritime boundary dispute in the Sir Creek region at the 12th round of talks with both sides reiterating their stated positions and expressing desire to find an amicable solution. The Indian delegation was led by surveyor general of India Swarna Subba Rao and the Pakistani side was led by additional secretary in the ministry of defence Rear Admiral Farrokh Ahmad. Noting that talks were held in a “friendly and cordial” atmosphere, it said the two sides agreed to hold the next round of talks on Sir Creek issue in Pakistan at mutually convenient dates to be determined through diplomatic channels. Sir Creek is a 96-kilometre strip disputed region between India and Pakistan in the Rann of Kutch marsh-lands. The Creek which opens up into the Arabian Sea, divides the Kutch region of the Indian state of Gujarat from the Sindh province of Pakistan.
• ·         India and Russia have a target to escalate their bilateral trade to $ 20 billion by 2015. India stressed on the need for diversifying trade basket by allowing in more value added products to enhance two-way trade as the current list of trade is dominated by commodities with large imports of iron, steel, fertilizers and oil from Russia. India has also urged Russia to open its flourishing $19-billion pharmaceuticals market, accelerate the list of 500 drugs that it presently imports from India and to let Indian pharmaceutical companies form joint partnerships with Russian companies. India has also demanded the Russian side to constitute a nodal agency to craft a joint committee for execution of MoU b/w Indian and Russian pharma companies, particularly in the field of quality control and standard essentials in accordance assessment of pharmaceuticals and bio-pharmaceuticals. Russia's pharmaceuticals market sprang up to $19 billion in 2011 from $6.6 in 2005, growing at a compound yearly growth rate of 23%. Still, there are a lot of non-tariff barriers Russia inflicts which makes it hard for foreign companies to move into this market, in terms of drugs registration and research and development of fresh drugs. Already India has constituted its own nodal agency— The National Institute of Pharmaceutical Education and Research (NIPER) — under the Department of Pharmaceuticals. All the same, the Russian side is yet to constitute an suitable nodal agency.
• ·         India has invited Brazilian investment in the newly launched National Infrastructure and Manufacturing Special Economic Zone as well as in the food processing industries. Brazil too has expressed keen interest in collaboration with India in joint production of essential drugs for fighting HIV Aids, and Malaria. Both sides stressed the importance of re-launching the India-Brazil CEOs Forum, a decision taken in the form of declaration at the Summit level in March 2012.
• ·         Minister of State in the Prime Minister’s office has said that the nuclear energy sector will be opened to foreign direct investment, FDI. Commerce and Industry Minister had earlier said at the India-France CEO Forum, that India is expected to get foreign investment of over 100 billion dollars in nuclear energy in the next 20 years, of which a quarter would come from France.
• ·         In a unique educational partnership between India and the United States, eight institutional partnership projects, four each led by either country, have been announced for the first Obama-Singh 21st Century Knowledge Initiative awards. The goal of the initiative is to further strengthen, through faculty exchanges, joint research, and other collaboration, partnerships between American and Indian institutions of higher education in priority fields, including food security, climate change, sustainable energy, and public health.
• ·         Bilateral trade between India and Germany is projected to touch Euro 20 billion during year 2012, posing a growth of 11 % over the the year 2011. Amongst the EU, Germany is India’s leading trade partner. India is eager to have a prompt conclusion of a Free Trade Agreement (FTA) b/w the EU and India.
• ·         India and Dubai come out as top trading partner as its total trade reaches over USD 10 billion during the quarter ended March, 2012. As per the newest statistics released by Dubai Customs, India also evinced as Dubai's top exporting and re-exporting country at USD 5.7 billion and stood 2nd in terms of imports at USD 5.17 billion, following China at USD 6.94 billion. The US was at 3rd place at USD 4.35 billion.
• ·         India and South Korea agreed to bolster civil nuclear energy cooperation as well as space activities, including the launch of Korean satellites by India. Both sides judged the developments and expansion of their Strategic Partnership during the second India-Republic of Korea, Foreign Policy and Security Dialogue in New Delhi. The two sides reviewed the status of bilateral relations and exchanged views on regional and global matters of interest including the position on the Korean Peninsula.
• ·         In tune with a growing ‘strategic partnership’ with South Korea, India is now getting all set to ink a major defence contract with the north-east Asian country for acquisition of eight advanced minesweeping and hunting warships. India will get two of the mine countermeasures vessels (MCMVs) directly from South Korean firm, while the other six will be manufactured by Goa Shipyard after transfer of technology. India’s need for advanced MCMVs that combine the role of traditional minesweepers and active minehunters to detect and destroy underwater mines is critical. “Underwater mines are cheap weapons that can be used for high-impact incidents. It’s relatively easy for someone to lay mines at the harbour approach or departure routes. There is need to step-up the protection of our harbours and offshore installations”.
• ·         “India and Mauritius enjoy an active programme  on cooperation various fields including capacity building, economic and social development, defence and security and trade and investment, and thus New Delhi is committed to the safety and security of Mauritius” said External Affairs Minister S M Krishna. Noting the  regular exchange of high level visits between India and Island nation, Mr Krishna said the Prime Minister of Mauritius Dr Navinchandra Ramgoolam paid a State visit to India in February this year. During his visit India announced an economic package of 270 million dollars which included a line of credit of 250 million US dollars  and grant of 20 million US dollars to Mauritius.
• ·         The Union Minister for Commerce met the European Union (EU) Trade Commissioner at Brussels and reviewed the status of India-EU Bilateral Investment and Trade Agreement (BITA) negotiations. Both sides agreed on a roadmap to conclude the negotiations by October-November this year. The Indian side sought comfort and clarity on the market access being provided to India in Modes 1 and 4 and asked for assurance that these are actually effective on the ground. In Mode-1, India would need to be declared as data secure in order to provide access. Shri Sharma reiterated that India is data secure, a fact validated by the presence of major international companies which have set-up their offices and R&D centres in India. Similarly, on Mode-4 i.e. movement of natural persons for providing services, India pushed for better access and removal of safeguard clauses that may hamper the actual realisation of concessions offered by EU. India also pushed for more access for domestic industry and Indian agricultural products. The European side also put forward its concerns with regard to market access and patent issues. Fourteen rounds of negotiations have taken place, and the fifteenth round have just concluded. The bilateral trade between India and EU in the year 2011 was US$ 108.80 billion which increased from US$ 83.46 billion in 2010. The exports in the year 2010 were US$ 41.15 billion which increased to US$ 54.74 billion in 2011. On the other hand, imports in the year 2010 were US$ 42.32 billion which also increased to US$ 54.07 billion in 2011.
• ·         China’s Muslim dominated, Xinjiang Uyghur province (via Kashghar) looks effervescent to open up direct border trade with India. Currently, trade is carried out through Pakistan as there are no border posts. India and Xinjiang traders meet annually at Rawalpindi to discuss the trade volume and items. In 2011, Xinjiang overall turnover was at $22.8 billion with neighbouring countries, thus it promises huge potential of trade.
• ·         India and Kazakhstan signed a pact to promote growth of textiles, particularly garment manufacturing, to strengthen their domestic industries. MoU inked b/w the Apparel Export Promotion Council (AEPC) and State Authority Directorate of SEZ 'Ontustyk' . Both the countries decided to collaborate in segments like wool and cotton along with exchanging information.
• ·         India and Finland have signed an agreement on social security. There are about 5,000 Indians in the Republic of Finland most of whom are working as professionals and self-employed. The Social Security Agreement with Republic of Finland will provide for the following benefits to Indian nationals working in Finland: [1.] For short term contract up to 5 years, no social security contribution would need to be paid under the Finnish law by the detached workers provided they continue to make social security payment in India; [2.] The above benefits shall be available even when the Indian company sends its employees to Republic of Finland from a third country; [3.] Indian workers (including self-employed Indians) shall be entitled to the export of the social security benefit if they relocate to India after the completion of their service in Republic of Finland. “So far India had signed twelve Social Security Agreements with Belgium, Germany (Social Insurance), Switzerland, France, Luxembourg, the Netherlands, Hungary, Denmark, the Czech Republic, Republic of Korea, Norway and Germany (Comprehensive SSA).”
• ·         India and Canada signs MoU on Infrastucture Development, Operation & Maintenance of Roads and Intelligent Transport System etc. India has shifted focus towards the Private-Public-Partnership Mode for undertaking development and up-gradation of national highways network across the country as also development of express-ways which are going to be access-controlled with all modern construction technology, Information Technology, including Electronic Toll Collection System. It is expected that there would be an increase in involvement and participation from the Canadian industry in India’s ambitious National Highways and the Expressways Development Project.
• ·         India and Brazil set to enhance bilateral trade to a target of $15 billion by 2015. Presently, the bilateral trade stands at $10 billion. India seeks investments from Brazil for establishing the National Manufacturing and Investment Zones (NMIZs). It is to augment the share of the manufacturing sector in the GDP to at least 25% by 2020 from 16 % at present. For the same, a new National Manufacturing Policy (NMP) was announced recently, supporting setting up of NMIZs. NMIZs will be mega industrial zones with top-notch supporting infrastructure. The government is providing incentives and a liberalized labour and environment norms to promote these zones. Brazilian industry is also looking for investments from India in infrastructure sector in light of Brazil hosting 2016 Olympics game.
• ·         India and Poland are to increase bilateral cooperation in the Film sector. India will ink an audio visual co-production agreement that will furnish a legal framework for encouraging audio-visual productions. Ms. Soni will also push India as a filming destination and exhibit the policy initiatives attempted to ease co-production arrangements.
• ·         The United States has given Afghanistan a Major Non-NATO Ally (MNNA) status in the wake of drawdown of the international forces from the country. The Major Non-NATO Ally status symbolizes deepening strategic partnership between Afghanistan and the United States. The two countries had signed a long term strategic partnership agreement in May this year which also includes commitments on promoting democracy, good governance, advancing long-term security with the provision of foreign funds for the Afghan forces.
• ·         The UK has banned IM (Indian Mujahideen) quoting the undiscerning mass casualty attacks carried out by the LeT-linked terror group in India and the risk it posed to British nationals in the country. The IM is also banned in other countries, including the United States and New Zealand. India had banned IM in June 2010 after it was suspected of involvement in the attack on a Pune bakery.
• ·         US exempted India and 6 other countries from financial sanctions because they have significantly cut purchases of Iranian oil. The group includes India, Malaysia, South Korea, South Africa, Sri Lanka, Turkey and Taiwan. Japan and some of the European countries are already exempted from Iran sanctions.
• ·         United Nation declared Eurozone Debt Crisis as the biggest threat to the world economy. As per UN: [1.] Global economy to grow by 2.5% in 2012 and 3.1% in 2013. It registered growth of 2.7% in 2011; [2.] South Asian economy to perform moderately with 5.6% growth in 2012, sliding down from 6.1% in 2011; [3.] Indian economy is predicted to expand by 6.7% in 2012, after expanding by 7.1% in 2011; [4.] Debilitating demand in developed countries and a slowing Chinese economy may impact economic growth in East Asia; [5.] Average regional growth is likely to slow from 7.1% in 2011 to 6.5% in 2012; [6.] China’s growth to decline from 9.2% in 2011 to 8.3% in 2012; [7.] Most of the world economies are likely to expand at a rate below potential.
• ·         The World Economic Forum (WEF) meeting on West Asia, North Africa and Eurasia was held in Istanbul, Turkey. The theme of the forum was: “Roadmaps for Reform, Pathways to Inclusive Growth”.
• ·         Six major world powers are engage in technical expert level talks with Iran in Istanbul today. Earlier, a round of talks on Iran's controversial nuclear programme was held in Russia's capital, Moscow today. The talks are to be held between negotiators from Tehran and six world powers (P5+1 group of nations) comprising UN Security Council permanent members Britain, China, France, Russia and the United States, plus Germany. They offered a package of proposals to Iran at the last round of talks in Baghdad in May. They called for Iran to halt its enrichment of uranium to 20 percent, ship out its stockpile of 20-percent uranium and halt enrichment at its heavily-fortified underground enrichment facility near the city of Qom. In return, they offered nuclear cooperation, spare parts for Iran’s passenger aircraft fleet and an easing of an EU ban on tanker insurance that hinders oil sales to Asia. Iran’s negotiators rejected the package as insufficient. They countered with a list of their own issues like the regional security and said Iran has the right to enrich uranium. Tehran also wants the West to lift sanctions, including an EU oil embargo and US measures against Iran's Central Bank.
• ·         Bangladesh and Russia inked two MoU’s as a measure to step up co-operation to build Bangladesh’s first nuclear power plant in Roopur with 2 Nuclear reactors each with a capacity of 1000 Megawatt. According to the MOUs:[1.] Russia will assist Bangladesh in developing the human resource required in nuclear power sector which include different tiers of managerial, technical and operational personnel, and finally developing broad-based academic and training capabilities in Bangladesh; [2.] Information Centres will be established in Bangladesh to generate awareness among people, especially the younger generation, on various aspects of nuclear energy and nuclear power plants, including functioning, maintenance and safety measures in the nuclear plants.
• ·         In Nepal, government officials and civil society representatives from Bangladesh, Nepal and Pakistan are meeting in Kathmandu to share their experiences on public participation and accountability in the budget process. The forum has been  organized by the World Bank Institute, the Program for Accountability in Nepal and the Affiliated Network for Social Accountability-South Asia. The forum intends to serve as a kick off for devising country level action agenda on greater budget accountability at national and local level.
• ·         Afghanistan and China have agreed to  strengthen bilateral relations through strategic and co-operative partnership based on the five principles of peaceful co-existance.
• ·         China and Russia are leading a group summit, with talks focusing on security and development in central Asia. The six-member Shanghai Cooperation Organisation group (China, Russia and Central Asian States of Uzbekistan, Kazakhstan, Tajikistan and Kyrgyzstan) was formed in 2001. Presently, India, Pakistan, Mangolia and Iran are having observer status, while Belarus and Sri Lanka are having status as Dialogue Partners. Afghanistan is the latest addendum in the list of Observer States, added during current summit. The group was formed to curb extremism in the region and enhance border security. It was widely viewed as a countermeasure to curb the influence of western alliances such as Nato. This time, India has made vociferous demand for its full membership in the Shanghai Cooperation Organization, SCO. It has demanded a larger role for itself in the security grouping in Afghanistan in the wake of the withdrawal of US-led NATO troops from the war-ridden country. India is keen to play a major role in the counter-terrorism structure of SCO to battle challenges of extremism by expanding cooperation b/w India and the Regional Anti Terrorist Structure which is currently confined to members of SCO. In 2011, Russia had also favored the expansion of SCO
• ·         A powerful typhoon (Typhoon Guchol) is making its way towards Japan with a landfall being expected by Wednesday.
• ·         Search efforts for four Japanese climbers who went missing after being hit by an avalanche on Mount McKinley in Alaska. It’s the North America's tallest peak, standing at 6,194 meters.
• ·         In China, the 5th tropical storm of this year, is expected to hit at least two provinces on the southern and eastern coasts tomorrow. The storm brought winds blowing at 64 km/hr.
• ·         Russia's Upper House of Parliament has approved a Bill that dramatically raises fines for people involved in unauthorised rallies. 
• ·         Afghanistan and Turkey will sign long-term strategic cooperation agreement to strengthen their bilateral relations and to take bilateral ties to new heights.
• ·         Afghanistan and Norway gave final shape to the draft of the Strategic Partnership Agreement (SPA) b/w the two countries. The draft of the agreement is ready for signature and the two countries will ink it in September 2012. Afghanistan has already inked SPAs with the US, Britain, India, Germany, France and Italy. China is also eager to sign similar agreement with Afghanistan.
• ·         Three NATO soldiers were killed by a person wearing Afghan police uniform in southern Afghanistan. Such incidents known as green on blue attacks are on the rise in Afghanistan. More than 20 foreign soldiers have so far been killed this year by persons wearing Afghan police uniform.
• ·         Oil Ministers of the 12 oil exporting nations from OPEC meet in Vienna to maintain the ceiling of 30 million barrels oil production per day for the member nations. OPEC meeting comes in the backdrop of 24 percent decline in crude oil prices over the last one month. Meanwhile the Paris based International Energy Agency in its report said that market is better Supplied and it would be prudent for OPEC to maintain the crude output  at the existing levels. Iran and Venezuela are reported to be in favour of a reduction in the output to boost the prices. But Saudi Arabia and most of the other OPEC nations have said they won’t disturb the current levels of oil production to help the global economic recovery. Low oil prices could ease fuel costs, eventually freeing up consumer spending in net crude importers such as the U.S., Europe and emerging economies like China and India.
• ·         Iran has claimed that it is developing a nuclear submarine propulsion system and said all countries have the right to use peaceful nuclear technology, including for the propulsion system of its vessels.
• ·         Nepal's Prime Minister Baburam Bhattarai will spend at least one night in a month in a rural area of the country. During his stay, he will interact with the local people, representatives of political parties, civil society members and social activists.
• ·         Israel has completed the construction of a wall (7m high & 1.2km long) on the borders with Lebanon over the past 24 hours, aiming at preventing any direct confrontation between Israeli soldiers and Lebanese civilians.
• ·         Mohamed Morsy was announced Egypt’s first Islamist President after 1st elections in the country’s history as the Egypt’s last four Presidents over the last 6 decades were from the military. He defeated Hosni Mubarak’s regime’s last Prime  Minister Ahmed Shafiq with a close margin. However, the main power tussle b/w Brotherhood and military has not yet come to halt.
• ·         Raja Parvez Ashraf, candidate of ruling Pakistan People's Party is the new Prime Minister of Pakistan. He was elected in a special session of the National assembly held in Islamabad. The special session of National Assembly was called to elect a new PM after the dismissal of Prime Minister Yousuf Raza Gilani by the Supreme Court of Pakistan.
• ·         Antonis Samara, leader of New Democracy Party (NDP), sworn in as the Prime Minister of Greece. Greece is going through the severe economic upheaval which started in 2008. The country which contributes nearly 2% of the gross economic output of the Euro zone has seriously been pondering over the option of pulling out of the group. The exit of Greece from the Eurozone might pose a serious threat over the future of European Union (EU) as many bigger European economies such as Spain, Italy, Portugal may follow the steps of Greece. To pull Greece out of the economic crisis the EU and IMF had granted a 110 billion Euro bailout package to the country in 2010, followed by a 130 billion Euro package in 2012.
• ·         NASA successfully launched NuSTAR (Nuclear Spectroscopic Telescope Array) from Kwajalein Atoll in the Marshall Islands. It has a space-based X-ray telescope that will use a Wolter telescope to focus high energy X-rays from astrophysical sources, especially for nuclear spectroscopy. It is the first space-based direct-imaging X-ray telescope at energies beyond those of the Chandra X-ray Observatory and XMM-Newton. It’s Primary Objective are: [1.] Conducting a deep survey for black holes a billion times more massive than our sun; [2.] Understanding how particles are accelerated to within a fraction of a percent of the speed of light in active galaxies; [3.] Understanding how the elements are created in the explosions of massive stars by imaging the remains, which are called supernova remnants.
• ·         Russia has brought out the world's longest cable-stayed bridge (1,104 m) linking Vladivostok to Russky Island. Russia is spending 20 billion US dollars in pursuit of its Soviet-era dream of turning the port into a Russian version of San Francisco to pull massive investment.
• ·         India’s promise to inject $10 billion into the International Monetary Fund (IMF) triggered other BRICS member nations to pledge various amounts for bailing out Euro zone. Before the G-20 meetings, $360 billion had already been promised by various nations. At the G-20 meet, albeit Chinese President Hu Jintao had already spoken before Prime Minister Manmohan Singh, it was only after Singh concluded his speech, Jintao again stood up to announce China’s $43 billion assistance to the IMF. Russia and Brazil committed assistance of $10 billion each while South Africa promised about $2 billion.
• ·         While addressing the conference at Rio de Janeiro, the Chinese Premier Wen Jiabao held that China still has more than 100 million people living Below the Poverty Line (BPL) and stressed that China continued as a developing nation, despite it being the 2nd biggest economy in the world. He admitted that China’s per capita income ranks around 90th in the world and the low per capita income of China is a major challenge in promoting sustainable development. As per last year’s World Bank report China's BPL population who survived on less than $1.25 a day was about 150 million. However, China is the 1st country in the world to reach the Millennium Development Goals (MDGs) of reducing the proportion of the poor to half.
• ·         Israeli scientist Daniel Hillel bagged World Food Prize 2012. His work and motivation has contributed in bridging the divisions and spreading peace and understanding in the Middle East by enhancing a breakthrough achievement. He conceived and implemented the method of micro-irrigation, which maximizes the efficaciousness of water usage in agriculture, in the dry and arid land regions. World Food Prize is an international award recognizing the achievements of individuals who have advanced human development by improving the quality, quantity or availability of food in the world. The prize was created by Norman Borlaug (Nobel Peace Prize laureate) in 1986. Norman Ernest Borlaug was an American agronomist, philanthropist and famously known as the the father of the Green Revolution. He was awarded Padma Vibhushan, the India's 2nd highest civilian honour. The World Food Prize award is chaired by M.S. Swaminathan, an Indian agricultural scientist Professor and the 1st World Food Prize recipient.
• ·         With the launch of Shenzhou-9 space mission china has reached a new milestone as its crew members comprise 3 astronauts including China’s first woman astronaut Liu Yang.
• ·         Russia has activated a national emergency plan to contain a bird flu epidemic after authorities had confirmed the existence of the H7N3 virus in some towns.
• ·         A plan to build the biggest land-based optical telescope in the world has cleared an important hurdle. The European Southern Observatory announced that its governing council gave full or provisional approval for the so-called European Extremely Large Telescope, the E-ELT, which opens the way to starting work on the project. It will be sited on Cerro Armazones in northern Chile, close to ESO's existing Paranal Observatory, where the extremely arid conditions and high altitude offer excellent viewing of the skies. If all goes well, the E-ELT would start operations about a decade from now, becoming one of the great astronomical assets of the 21st century alongside a planned radio telescope, the Square Kilometre Array set to be build in South Africa and Australia. Work on building the E-ELT will start once the ad referendum votes are made official and financial commitments are secured for at least 90 percent of the total cost.
• ·         The world saw the transit of Venus on June 6th. The planet passed between the Sun and the Earth leaving a lasting impression on the viewers. The cosmic event will happen again after 105 years.
• ·         Scientists at the European Organization for Nuclear Research, CERN, claim to have found preliminary but strong proof of the existence of the Higgs Boson particle, also known as the ‘god particle’. The discovery was made using a 10-billion dollar atom smasher that could reveal why objects have mass and why some have more than the other as well as the big bang theory. The Higgs Boson is a hypothetical elementary particle and the Higgs field is believed to be an electromagnetic field through which all matter passes and gets heavier. Very high energy is required for this particle to be visible. Higgs boson was the agent that made the stars, planets and life possible by giving mass to most elementary particles, the building blocks of the universe; hence the nickname "God Particle." The elementary particle of boson is named after Indian physicist Satyendra Nath Bose whose study changed the way Particle Physics has been studied ever since. Bose was a part of the golden troika of Indian physicists, including CV Raman and Meghnad Saha, whose works have left permanent impressions on the study of fundamental physics.
• ·         The US drug control authority has approved the first over-the-counter, self-administered HIV test kit. This  will enable Americans to detect on their own and in the privacy of their homes whether they are infected with the virus that causes AIDS.
• ·         Statistics Day was observed on June 29th. The theme this year has been chosen as ‘Industrial Statistics’ mainly because of its significant relevance in the context of economic development process. The Statistics Day is being celebrated on the birth anniversary of Professor Prasanta Chandra Mahalanobis, an eminent statistician whose contribution to the field of applied statistics and development planning is un-parallel.
• ·         International Day against drug abuse and illicit trafficking was observed on June 26th.
• ·         World Blood Donor Day is being observed on June 14th. This year's theme is “Every blood donor is a hero”. Indian Union Health Ministry is planning a nationwide database of blood donors connected through email and social media.
• ·         World Day Against Child Labour is being observed on June 12th. The objective is to eliminate child labour  and other violations of fundamental rights of children, in all forms. The theme for this year is “Justice for children - end child labour”. The Government 's 2001 census estimated that the children constitute 3.6% of the total labour force in the country.
• ·         World Environment Day was observed across the globe on June 6th. Theme for this year: “Green Economy: Does it include you?”. Government flagged-off the 'Science Express-Biodiversity Special' train in New Delhi to mark the day. The train highlights the bio-diversity zones in the country will also focus on a range of Biological diversity and livelihood. The train will stop at 100 stations during two years travelling almost 18000 Km. The Indira Gandhi Paryavaran Puraskar awards was also conferred upon two organizations that made substantial contribution in the protection of environment.
• ·         World IPV6 launch Day is being set on June 6, 2012 as the world’s major Internet service providers, networking equipment manufacturers and web companies around the globe are switching to the latest version of Internet Protocol address from June 6 onwards. In India transformation will be complete in a phased and time bound manner by 2020. However, all the Government websites to adopt new technology by the year end. Presently, India has 35 million IPV4 addresses against 360 million data users.
• ·         The International Cricket Council (ICC) has chosen Sri Lanka’s star Lasith Malinga, as the official Event Ambassador for the ICC World Twenty 20 Sri Lanka 2012.
• ·         Alan Isaac of New Zealand will replace Sharad Pawar as ICC President as the term of the latter comes to an end. Sharad Pawar will complete his two-year term.
• ·         Spain erupted in joy on retaining their European championship title in style and creating football History in Euro Cup.
• ·         Star Indian badminton player Saina Nehwal bagged her 3rd Indonesia Open Super Series in Jakarta. She beat China’s Xuerui Li in title clash. This victory brings her 3rd title in the calendar year 2012.
• ·         Ace Indian shuttler Saina Nehwal clinched the Thailand Open Grand Prix Gold title by beating the local favourite Ratchanok Inthanon in the final of the event. She had won the Swiss Open in March this year.
• ·         Sania Mirza and Mahesh Bhupathi won their 2nd Grand Slam title together and first French Open trophy. They defeated the Mexican-Polish duo of Santiago Gonzalez and Klaudia Jans Ignacik in the mixed doubles final held in in Paris. Earlier, Sania and Bhupathi had won the 2009 Australia Open as their first Grand Slam title. French Open 2012 Result: [1.] Men's Singles: Rafael Nadal (Spain) defeated Novak Djokovic (Serbia); [2.] Women's Singles: Maria Sharapova (Russia) defeated Sara Errani (Italy)
• ·         New Zealand grabbed the 21st Azlan Shah Cup hockey tournament in their maiden final. They defeated Argentina in the top clash at Ipoh, Malaysia. 5-time champions India beat Great Britain and won the bronze medal.
• ·         FIFA, the Football’s governing body is concocting to vote on the initiation of GOAL LINE TECHNOLOGY. Pressure is developing on the football authorities following a series of high profile errors by referees, including one in the latest European Championships. A goal by Ukraine against England was disallowed in spite of television footage indicating that the ball had undoubtedly crossed the line. FIFA is anticipated to sanction two systems - a camera based system and one which uses a censor in the ball.