Daily News Notes: 30th August to 3rd September, 2012
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The Loksabha today passed a All-India Institute of Medical Sciences
(Amendment) Bill, 2012, to help the Centre to set up AIIMS-like institutes
across the country. The Bil will also replace a recent Ordinance which allowed
the six AIIMS-like institutes to become operational from next month. The
government had announced six AIIMS-like institutes to be set up in Patna,
Bhopal, Raipur, Bhubaneshwar, Jodhpur and Rishikesh.
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The NSSO data
revealed that about 70% of total income of the labour force in the urban
sector—most of which comprises migrants from villages—is remitted to their
homes, thus adding to the overall spending capacity of the rural household.
NREGA, introduced in 2006 and extended to all of rural India in 2008, and the
government’s other social sector schemes fuelled job creation at an
unprecedented scale and provided an opportunity to rural households to
supplement their traditional farm income, the report noted. Nearly 27% of rural
households availed employment under (NREGA) in 2009-10. This scheme, which is
linked to retail inflation (that is CPI, or consumer price index), is also
fuelling inflation in the country. However, the main reason why the inflation
remains at an elevated level is the supply constraints in the economy.
For example, in India the demand for pulses, the main source of proteins, is
rising at a much faster clip than the rise in total production of these food
items. However, low productivity level for protein-rich foods and thus lower
returns to farmers compared to returns from cultivating rice and cereals is
forcing them to continue farming rice and cereals. This is contributing to
inflation for retail consumers. Some Highlights of the report: [1.] In 2011-12, total rural consumption was 12.9 lakh
crore, against urban figure of 10.44 lakh cr; [2.]
Between 2010-11 and 2011-12, rural consumption grew at 19%, urban at 17%; [3.] About 1 out of every 2 rural households in India has
a mobile phone; [4.] More than 50% of country’s TVs,
fans, mobiles and 2-wheelers are in rural areas, Trickle-down theory at work in
last two years.
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The Minister of Panchayati Raj has said
that in 1957, a Committee under the
Chairmanship of Balwantrai Mehta on Community Development Projects and
National Extension Services recommended that public participation in community
works should be organized through statutory representative bodies.
Subsequently, the NDC endorsed the basic principles of democratic decentralization
enunciated in the report and laid on States the duty of working out the
structures suitable to each States. Further, Ashok Mehta Committee Report of 1978 recommended that Panchayati
Raj may be included in the Constitution. In keeping with the spirit of the
Ashok Mehta Committee recommendations, some states, including West Bengal,
Karnataka and Andhra Pradesh, revisited their respective Panchayati Raj systems
and undertook several new initiatives to endow local bodies with more powers,
leading to these initiatives being cited as “second generation” panchayats,
which served as a prime inspiration and example for subsequent reform i.e.
Constitution (Seventy Third Amendment) Act, 1992 which came into force on 24th
April, 1993. Shri Deo said, the Ministry of Panchayati Raj have constituted an Expert Committee to examine how Panchayats
could be leveraged for more efficient delivery of public goods and services
under the Chairmanship of Shri Mani Shankar Aiyar, Member of Parliament (Rajya
Sabha).
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Minister for Women and Child Development (Smt. Krishna Tirath) has informed
that her Ministry is implementing a schemes for the development of Adolescent
Girls viz. Rajiv Gandhi Scheme for Empowerment of
Adolescent Girls, Sabla, was introduced on pilot
basis in the year 2010 by merging earlier schemes of Kishorishakti
Yojana and Nutrition Programme
for Adolescent Girls (AGs). Sabla aims at all-round
development of adolescent girls of 11-18 years (with a focus on all
out-of-school Adolescent Girls) by making them ‘self reliant’ by improving
their health and nutrition status, promoting awareness about health, hygiene,
nutrition, Adolescent Reproductive and Sexual Health, family and child care and
facilitating access to public services through various interventions such as
guidance and counselling and imparting Vocational
Training. It also aims towards mainstreaming out of
school Adolescent Girls into formal/non formal education.
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Government has informed that it has
approved Chandrayaan-II Project in
September 2008. Chandrayaan –II is envisaged as a Indo-Russian joint project
consisting of (i) an unmanned Orbiter with scientific instruments to orbit the
Moon; (ii) Lander module to be supplied by Russia and a Rover module by India
for in-situ scientific exploration of the Moon. The work on Chandrayaan-II is
in progress. Chandrayaan-II does not envisage manned lunar expedition.
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Government has informed that the Flood Early Warning System (FLEWS)
project is aimed to provide advance information on flood events as an input to
disaster preparedness. FLEWS was initiated as Research and Development
(R&D) project, at the behest of North Eastern Council (NEC) during 2009. It
is currently extended to 14 districts in Assam covering both Brahmaputra and
Barak valley on an operational basis. The success rate of flood prediction has
improved from 25% in the year 2009 to 75% in the year 2011. During the current
year the success rate has further improved to 80% for a total of 21 forecasted
events in the 14 districts. The maximum lead time of forecast has improved from
7 hours to 18 hours during the same period.
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The Supreme Court has held that corruption case against a government
employee cannot be quashed on the basis of a clean chit given by the
department after holding an inquiry against him as the standard of proof in
departmental proceedings is lower than that in the criminal prosecution.
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Minister of State for Agriculture has
informed that the production of
Vegetables & Fruits in the country rose by 3% to 150 million tonnes
last fiscal and 1% at 75 million tonnes respectively in 2011-12. He said, the
prices of fruits and vegetables are
governed by the market forces of demand and supply. The prices depend upon the
prevailing weather conditions, transportation cost, storage and rising demand
due to increasing income and urbanisation. Mr Rawat said that emphasis is also
laid on increasing productivity of fruits and vegetables through area
expansion, protected cultivation, canopy management, integrated nutrient and
water management and integrated pest management.
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The Women and Child Development
Minister has informed that her Ministry is seeking life term for those
convicted in dowry death cases. She
also proposed separate fast-track courts for disposal of cases involving women.
The ministry is pushing for an all-India cadre of protection officers for
women. It has proposed to make listing of wedding gifts compulsory for the
bride & groom, and if a bride dies, her wedding gifts should go to her
parents or children. In case, she does not have parents or children, the gifts
would become state property. During the consultation it was also proposed
registration of all marriages, especially those involving NRIs, and putting
them up on a website.
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Tourism has informed that his Ministry had launched a special initiative called Hunar Se Rozgar Tak (HSRT) in the year 2009-10 for creation of
employable skills amongst youth. The HSRT initiative is being implemented
through expert institutions including the Indian Institute of Tourism and
Travel Management, Institutes of Hotel Management etc. The HSRT initiative is
being implemented as part of the Ministry of Tourism’s Scheme namely Capacity Building for Service Providers
(CBSP).
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Railways Minister has informed that the Indian Railway Vision 2020 envisages
increasing speed of passenger trains to 160-200 km/h on the routes where
freight traffic has been segregated by construction of Dedicated Freight
Corridor. Increasing of speed will involve strengthening of track &
bridges, modification in signalling and overhead electric traction and other
safety measures. A feasibility study for increasing the speed on Delhi-Mumbai
route is being carried out with assistance from Government of Japan.
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From 1st Sep, 2012, India have been among the select
few countries in the world to have stringent EMF (Electromagnetic Frequency)
Radiation Standards, established in the interest of public health,
for mobile towers and mobile handsets. Indian standards would now be 10 times
more stringent than more than 90% countries in the world. The following are the
highlights of the Standards : [1.] EMF exposure limit (Base Station Emissions) has
been lowered to 1/10th of the existing exposure level; [2.] Telecom Enforcement Resource & Monitoring
(TERM) Cells have been entrusted with the job of conducting audit on the self
certification furnished by the Service Providers; [3.] All the new design of mobile handsets shall comply
with the Specific Absorption Rate (SAR)
values of 1.6 W/kg averaged over 1 gram of human tissue; [4.] The mobile
handsets with existing designs which are compliant with 2.0 W/kg averaged over
10 gram of human tissue, will continue to co-exist up to 31st August 2013; [5.] SAR value information will be displayed on the mobile handsets like
IMEI (International Mobile Equipment Identity) display; [6.] Mobile hand set
manufactured and sold in India or imported from other countries shall be
checked on random basis for compliance of SAR limit after TEC SAR Laboratory is
set up by end of 2012; [7.] All cell phone handsets sold in the market
in India will comply with relevant standards and shall be available in hand
free mode; [8.]
DoT is procuring EMF radiation measuring instruments
for TERM cell units; [9.] Guidelines for consumers on Mobile handset usage have been issued, some
are as: [1.] Keep distance – Hold the cell phone away
from body to the extent possible; [2.] Use a
headset (wired or Bluetooth) to keep the handset away from your head; [3.]
Use text as compared to voice wherever possible; [4.] Do not
press the phone handset against your head. Radio Frequency (RF) energy is
inversely proportional to the square of the distance from the source -- being
very close increases energy absorption much more; [5.] When your phone
is ON, don't carry it in chest/breast or pants pocket. When a mobile phone is
ON, it automatically transmits at high power every one or two minutes to check
(poll) the network.
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Shri
Manbir Singh, Former Secretary (Economic Relations),
Ministry of External Affairs, took the oath of office and secrecy as Member, Union Public Service Commission.
The oath was administered by Prof. D.P. Agrawal, Chairman, UPSC. An officer of
Indian Foreign Service of 1976 batch, Shri Manbir Singh has held several
important positions which incudes Counselor (Commerce & Economics) in
former USSR and later the Russian Republic, Minister at the Embassy of India in
the United Arab Emirates, Chief of Protocol at Headquarters, New Delhi,
Ambassador of India in the countries of Hungry, Iran and Netherlands. Shri
Singh has also served as India’s representative to ‘Convention on Prevention of
Chemical Weapons’ and the ‘International Court of Justice’.
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Minister for Food and Public Distribution
System has informed that the Government has introduced the National Food Security Bill, 2011 in the Lok Sabha in Dec, 2011 and
was referred to the Standing Committee on Food, Consumer Affairs and Public
Distribution for examination. It provides for coverage of upto 75% of the rural
population, with at least 46% population belonging to priority households and
upto 50% of the urban population, with at least 28% population belonging to
priority households for receiving subsidized foodgrains under TPDS. Priority
and General households will be entitled to receive atleast 7 kg and 3kg of
foodgrains per person per month respectivily. The Minister stated that
presently, Government allocates foodgrains under the Targeted Public Distribution System (TPDS) to States & UTs @ 35
kg per family per month for 6.5 crore Below Poverty Line families, including
2.5 crore Antyodaya Anna Yojana families. Allocations of foodgrains for Above
Poverty Line families are made depending upon availability of foodgrain stocks
in the Central Pool and past offtake by the States/UTs. Presently, these
allocations range between 15 and 35 kg per family per month in different
States/UTs.
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Minister of State of Road Transport and
Highways has informed that the Union Government is engaged in bilateral / multilateral cooperation in
Road Transport Sector with other countries for exchange and sharing of
Technical Expertise, Experience, Knowledge, Modern Technology and global best
Practices, etc. through signing of Memorandum of Understanding (MoU) on the
basic principles of reciprocity, equality and mutual benefits. So far such MoUs
have been signed with USA, UK, Malaysia, France, Finland, Canada and Japan.
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Minister of State for Communications and
Information Technology has informed that the dream of having faster internet
within a few years may come true if pure science research by physicists in
Centre for Development of Advanced Computing ( C-DAC), Hyderabad succeeds. The
research efforts are for usage of next generation high speed protocols like
User Datagram Protocol-based application
level data Transport (UDT) for bulk data transfer applications relevant to
Grid or Cloud environments over Internet. The Minister further informed that
all the Gram Panchayats in the country will be covered under the National Optical Fibre Network (NOFN,
w.e.f October 2011) scheme, under which Gram Panchayats will be provided with
Broadband connectivity through Optical Fibre Cable. The project is to be
completed in two years’ time. NOFN project will be executed by a Special
Purpose Vehicle (SPV) i.e. Bharat Broadband Network Limited (BBNL), a company
incorporated under Indian Companies Act 1956, fully owned by Central
Government, with equity participation from Government, BSNL, Railtel and
Powergrid.
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The Government has said that the Legal Services Authorities Act, 1987
does not make any distinction between trial and appeal for providing free legal
aid to an accused or a person in custody. Free legal aid is provided to : [1.] Scheduled Caste or Scheduled Tribe; [2.]
A victim of trafficking in human beings or beggar as referred to in Article 23
of the Constitution; [3.] A woman or a
child; [4.] A person with disability; [5.] A person under circumstances of undeserved want such
as being a victim of a mass disaster, ethnic violence, caste atrocity, flood,
drought, earthquake or industrial disaster; [6.] An industrial
workman; [7.] In custody, including custody in a
protective home, juvenile home, or in a psychiatric hospital.
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Law Minister has informed that the Election Commission has recommended
that a person should not be allowed to contest from more than one constituency
at a time. However, the Government has not taken any view on this matter.
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Law Minister has also informed that under
Article 348(2), the Governor of a State may, with the previous consent of the
President, authorize the use of the Hindi language or any other language used
for any official purpose of the State, in the proceedings of the High Court
having its principal seat in that State, provided that decrees, judgments or
orders passed by such High Courts shall be in English. In pursuance of the
aforesaid provision, the Governors of four States, namely, Rajasthan, Uttar
Pradesh, Bihar and Madhya Pradesh have authorized the use of Hindi in the High Courts of their States. The Minister said
that the 18th Law Commission of India in its Report on “Non-Feasibility of
Introduction of Hindi as Compulsory Language in the Supreme Court of India”
has, inter-alia, recommended that the higher judiciary should not be subjected
to any kind of even persuasive change in the present societal context.
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The Indian
economy grew by 5.5 % in Q1 (April-June) of 2012-13, compared to 5.3% in
the January-March quarter. It rose 8% in the April-June quarter of 2011-12. The
Indian economy, Asia’s third-largest, has slowed in the past few quarters due
to a series of factors which include high interest rates, stalled policies and
economic reforms, sluggish industrial growth, slowing global economy and gloomy
business confidence. Several economists and research units have downgraded
their growth estimates for 2012-13 and some expect growth to be below 6%, while
policymakers say it would be a shade better than the previous year’s 6.5%
expansion. The services sector, which accounts for nearly 60% of GDP, grew 6.9%
in the April-June quarter. [Click Here
for graphics: 1;
2;
3
; 4;
5]
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Competition Commission of India (CCI) has
re-constituted the Eminent Persons
Advisory Group (EPAG). Shri Deepak S. Parekh (Chairman, HDFC); Shri
Gurcharan Das (Author, columnist); Ms. Rama Bijapurkar (Author, thought leader)
have now been nominated to be the members of EPAG. The EPAG was constituted
earlier this year with the objective to serve as a group of ‘wise persons’ from
the Corporate Sector, Academics, NGOs, Regulatory Authorities, Reserve Bank of
India, CAG, and Banking & Social Activist. etc. to give broad inputs and
advice on larger issues impacting markets and competition, good international
practices, improved advocacy etc. to the Commission.
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The expert committee (headed by Parthasarathi
Shome) on General Anti Avoidance Rules,
GAAR has recommended postponement of the controversial tax provision by three
years. It has also called for abolition of capital gains tax on transfer of
securities. The Shome Committee was set up by Prime Minister Manmohan Singh to
address the concerns of foreign investors. The Finance Ministry has expanded the scope of the terms of reference
of the committee to include all non-resident tax payers instead of only Foreign
Institutional Investors.
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The Central Industrial Security Force,
CISF, has put all nuclear installations
in the country on general alert after a multi-state terror crackdown
indicated that nuke facilities were on the radar of terror suspects. The Kaiga
Atomic Power Station in Karnataka was the first to raise its security. The
total number of suspected terrorists arrested till now, has gone up to 17.
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Defence Minister has informed that on 3rd
October 2003, India had acceded to the Treaty
of Amity and Cooperation in South East Asia, which embodies universal
principles of peaceful co-existence and friendly cooperation among States in
South East Asia. Over the years, the ASEAN Regional Forum, the ASEAN Defence
Ministers Meeting plus and East Asia Summit have evolved as important
initiatives in the context of the regional security architecture. India is
actively participating in cooperative activities under these initiatives.
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In Gujarat, 8 defence personnel were
killed when two MI-17 choppers of
Indian Air Force collided mid-air during traing session. The
choppers were flying very close to each other when their upper rotors came in
contact causing the collision. The tail rotor of one of the choppers also
snapped, eyewitnesses said.
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Large
deposits of uranium have been discovered in Sikar district of
mineral-rich Rajasthan giving a new fillip to the country’s nuclear power
generation. Though the deposits are of low grade, the size of the deposits are
considered to be significant and the fourth largest in the country after
Tummalapalle, Chitrial and Peddagattu extension in Andhra Pradesh. Atomic
Energy Commission chairman R K Sinha said the department was investing
heavily on exploration of uranium across the country and had augmented its
reserves by 50% in the 11th Plan period. The Uranium Corporation of India
Limited has mining operations at Bagjata, Jaduguda, Bhatin, Narwapahar,
Mohuldih, Tummalapalle, Turamdih underground mines and Banduhurang open cast
mines. It also runs two processing plants at Jaduguda and Turamdih. At present,
India operates 20 nuclear power plants at six sites [Tarapur Atomic Power Station (TAPS) in MH; Rajasthan
Atomic Power Station (RAPS) in RJ; Madras Atomic Power Station (MAPS) in TN; Narora Atomic Power Station (NAPS) in UP; Kakrapar Atomic Power Station (KAPS) in GJ; Kaiga Generating Station (KGS) in KA]. There Atomic
Power Station have the capacity to generate 4,780 megawatt of
electricity. Of the 20 nuclear power plants in operation, 10 use imported
uranium while the rest use domestic fuel.
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The national capital has got its first solar water purification plant in the
East Delhi area which will produce over 5 thousand litres of drinking water
daily.
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Successful implementation of a sanitation project 'Soclean' in 16
villages of Vadodara district of Gujarat has drawn the attention of Madhya
Pradesh Government. A team of Nirmal Bharat Abhiyan from Madhya Pradesh visited
these villages to learn about Soclean. Nirmal
Bharat Abhiyan is a Centre-sponsored rural sanitation programmeunder which
Vadodara district administration is picking up solid waster from villages for solid waste management in rural areas.
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HRD Ministry in conjunction with the
Government of Haryana have launched a pilot project for the National Vocational Education Qualification
Framework (NVEQF), which is a nationally integrated education and
competency based skill framework that will provide for multiple pathways both
within vocational education and between general and vocational education to
link one level of learning to a higher level starting from any point in
education or in skills. The framework is aimed at enhancing the employability
of students who choose to leave for the job market and is based on a competency
based modular approach with provision for credit accumulation and transfer. The
Sector Skill councils (SSC) with representatives mainly from industry and
potential employers have been set up by the National Skill Development
Corporation (NSDC) and include sectors like IT, Retail, Security, Automobile
and Energy, which have helped in evolving the occupational standards,
curriculum and assessment packages and training modules for the four key
sectors in which the Haryana pilot is being launched. The NVEQF also attempts to bring about a perception change in the way
society views vocational education and restore its relevance in enhancing the
employability of the country’s youth.
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Considering the total potential of 6,000 MW
wave energy from the Indian coast, the Maharashtra Energy Development agency
(MEDA) has taken the first step forward to tap Maharashtra’s 720-km coast to generate wave energy. The project is
slated to begin in the next three months. A MEDA sponsored a study at the
Centre for Earth Science Studies, Thiruvananthapuram, in 1994 to find out the
wave energy potential at six sites along the Maharashtra coast. The six sites
are Girye, Vijaydurg, Ambolgarh, Kunkeshwar, Pawapoint and Wagapur. The
study also revealed that Pawas and Ratnagiri have high potential for generating
wave energy followed by Girye and Miyet point. These sites possess an average
annual wave energy potential of 5 to 8 KW/m and monsoon potential of 15 to 20
KW/m.
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Gujarat’s techsavvy CM Narendra Modi went a
step further on social media, being the first
Indian politician to host a live Google+ Hang Out. It was hosted by
Bollywood actor Ajay Devgan in which Modi responded to pre-screened questions.
On a question on defining secularism, posed by a certain Trivedi from London,
Modi said: “Everyone has their own definition, I also have one, mine is India
first. If everyone has this in their heart, it is a great thing for this
country,” he said. “But politicians try to serve their interest in the name of
secularism. In India, it (secularism) has lost its meaning due to vote bank
politics.” Modi further said that the country needs to focus on primary
education and infrastructure. “If you ask parents what their main priority is,
they answer education.” Asked about ways to stop brain drain, Modi disagreed
with the notion of brain drain. “Have all the intelligent people left? We want
Indian knowledge to spread across the world. There is a lot of resource in our
country, we need not worry.”
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India
and Tajikistan today signed six agreements in the
field of sports, health, culture, education, labour ,textiles and energy.
Indian PM has said that India will send a delegation from public and private
sector to explore investment in free economic zones in Tajikistan. Information
technology, e-connectivity, pharmaceuticals, bio-technology, textiles, leather
goods, mining and renewable energy are some of the areas with high potential.
Besides agreeing to deepen counter terrorism cooperation, both the countries
also agreed to have a strong defence mechanism. Dr. Singh said that India will
increase training slots for Tajikistan from 100 to 150 under India Technology and Eco Training Programme.
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Under the umbrella of Indo-German bilateral development cooperation, the Small Industries
Development Bank of India (SIDBI) and
the German Government’s Development Bank (KfW), have signed an agreement for financial assistance
totaling EURO 54 million to support the development and diffusion of innovative
technologies by micro, small and medium enterprises (MSMEs) operating in
designated clean technology sectors such as new energy efficiency, renewable
energy, waste management, pollution control and other clean technologies.
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Environment and Forests have informed that
the countries which are the largest contributor to Green House Gas (GHG) emissions in percentage terms are: China -
19.5%, USA - 19.2% India - 5.3%, Russia - 5.1%, Japan - 3.6% and Germany -
2.6%. As India`s Gross Domestic Product grows, its emissions will increase in
absolute terms but the growth rate of emissions will moderate as reflected in
declining emissions intensity of Gross Domestic Product. Further, India does
not have legally binding reduction commitments under Kyoto Protocol. However,
Indian Government is taking steps voluntarily to reduce GHG emissions. The
Government has released the National Action Plan on Climate Change (NAPCC) in
June 30, 2008 which outlines India’s strategy to meet the challenge of Climate
Change. Two of the eight National Missions i.e. National Solar Mission and
National Mission on Enhanced Energy Efficiency relate to mitigation of
emissions and include ambitious programmes aimed at generating solar power and
conserving energy. Also, public and private sector entities participate in the
Clean Development Mechanism (CDM) of the Kyoto Protocol which helps in reducing
emissions.
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A week long film festival to mark the
India Bangladesh Joint Celebrations of 100
years of Indian Cinema began in Dhaka. The festival began with the
screening of Raja Harish Chandra, the first feature film made in India by Dada
Saheb Phalke. The festival also involves a retrospective of films of Bengali
actor Soumitra Chatterjee to
celebrate the recognition of his lifetime contribution to Indian cinema by
being honoured with the Dada Saheb
Phalke Award this year.
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US President Barack Obama has appointed
Indian-American Romesh Wadhwani to a
key administration post. He made him a member of the board of trustees of the
prestigious John F Kennedy Center for the Performing Arts. Wadhwani is actively
involved in Kennedy Center initiatives, having served as Co-Chair of the
Maximum India Festival in 2011 and as a supporter of the 2010 Honors Gala.
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Commerce and Industry Minister (who was
in Siem Reap, Cambodia to attend the 10th
ASEAN-India Economic Ministers Consultations) has informed that India and
10-member ASEAN countries have agreed to widen the base of Free Trade Agreement
between them by including Services and Investments. This
would facilitate the beginning of ASEAN-India discussions on the Regional Comprehensive Economic Partnership
(RCEP) which would bring together a market of more than 50% of the world’s
population and 30% of the world’s GDP. India would be
hosting a meeting of the Working Group on services and investment in the second
half of September to conclude negotiation before the ASEAN-India Commemorative Summit in December in New Delhi. Both the
sides have already operationalised free trade pact in goods in January last
year.
The Ministers tasked the Senior Officials to start review of the implementation
of ASEAN-India Trade in Goods Agreement including the possibility for a package
of Product-Specific Rules of Origin to further facilitate trade between both
the regions. Since 2011, bilateral trade has increased by 43% to reach USD 79.8
billion making India the 6th largest trading partner of ASEAN.
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The 6th Mekong Ganga Cooperation, MGC Meet begun in New Delhi for the
first time. Foreign Ministers of Cambodia, Laos, Myanmar, Vietnam and Thailand
and India will review cooperation among these countries and set out the future
direction of this important mechanism for enhanced cooperation in the region.
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Finance Minister has informed that the flow of deposits from Non-Resident Indians,
NRIs, increased to 11.9 billion US dollars in 2011-12 as compared to 3.2
billion in the previous fiscal 2010-11. He said the NRI remittances are
important, as they bridge the current account deficit. As per the latest World
Bank data, India tops globally in attracting foreign remittances, he said.
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The leading Indian financial and equity
market experts have given a thumbs up to the new Qualified Foreign
Investors, QFI route launched by the Government to attract investment from
the foreign nationals in Indian Shares, bonds and mutual funds. The QFI service
was formally launched at the meet in presence of the Consul General of India in
Dubai. The QFI route provides direct access to the Indian equity and debt
markets for foreign nationals, groups or associations, allowing a wider global
investor base to take part and share the benefits of the Indian growth story.
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In China, 19 miners were killed (from carbon monoxide poisoning) and 28
others trapped underground following a gas explosion at a coal mine in
southwestern part of the country. The blast happened last evening when about
150 miners were underground. By this morning, more than 100 people have been
rescued and taken to hospital. Accidents are frequent in China's mining
industry, which is criticised for poor safety standards.
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The veteran South African
anti-apartheid campaigner, Archbishop Desmond Tutu, has reopened the debate
over the war in Iraq by calling for former British Prime Minister, Tony Blair,
and the then US President, George Bush, to face criminal action before the
International Criminal Court to answer for the many deaths, caused by the
conflict, after the two leaders had lied about Iraq having weapons of mass destruction.
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The German pharmaceutical company which
manufactured the drug Thalidomide
(in the 1950s and 1960s to help pregnant women suffering from morning sickness)
has apologised for the first time to thousands of people for the birth defects,
it caused. The company unveiled a bronze statue symbolising a child born without
limbs because of thalidomide.
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Sri Lanka will tighten its laws to curb
human trafficking and illegal migrations.
This comes in the wake of the rising cases of Sri Lankans trying to enter
foreign countries illegally as asylum seekers. The government will also seek
greater cooperation from Australia, Canada, the US and the European Union,
because these were the major destinations of the illegal emigrants. Presently,
there are over 1,000 Sri Lankan asylum seekers in detention camps in Australia.
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The Gulf Co-operation Council has said
more discussions are required to decide on the proposed Economic and Political Integration of Gulf Union. The
proposal to integrate the GCC members- Saudi Arabia, Bahrain, Qatar, Oman, UAE
and Kuwait was mooted by the Saudi King Abdullah at the GCC Summit in January
this year. The idea of the Gulf Union was borne out of the turmoil during the
Arab Spring with the Saudi Arabia, Bahrain and Qatar calling for a political
and economic integration. The GCC has in the past focused on closer economic
integration. The six monarchies have agreed to a customs union, but are
still hammering out how to divide revenues. Meanwhile the Gulf
Co-operation Council, GCC has slammed the Syrian Government for using heavy
weapons against civilians. The statement also asked Iran not to interfere in
their internal affairs J
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In Nepal, the prices of petroleum products have been hiked. With the revised
prices, petrol will now cost 125 Nepali rupees per litre and diesel, kerosene
both will cost 97 rupees per litre. The price of a LPG cylinder will be 1,470
rupees.