{DNN} Daily News Notes: 25th to 30th Sep, 2012

· The Cabinet Committee on Economic Affairs (CCEA) has approved the financial package for State Power Distribution Companies (DISCOM) to restructure their debt amounting to Rs 2,40,000 crore. This is not the first time that State DISCOMs are receiving debt restructuring, they had received packages in 2001-02 as well. States can access the grants (of ~Rs.25,000 crore) only if their power distribution firms reduce their losses by 25% each year and revise their respective electricity tariffs for consumers annually. The modus operandi will be: “First the debt will be converted into special bonds. The distribution firms or State Electricity Boards will issue the bonds to their creditors which are banks and financial institutions. Later, the debt will be transferred to states. On their part, the states have to ensure that the bonds are issued within the targets prescribed in the Financial Restructuring and Budget Management Act and also within their net borrowing ceilings set by the 13th finance commission. The centre will create a transitional finance mechanism to the support states with cash grants in their task to restructure the power distributors' debt. On their part, the states have to ensure that the distributors cut their losses by a quarter ever year.” The scheme will be implemented in all states except Uttar Pradesh, Rajasthan, Tamil Nadu and Haryana, for whom separate deals will be worked out.
· The Reserve Bank of India (RBI) showed concerns on separation of Debt Management Office (DMO) from Central Bank. The government had proposed to make DMO an independent body under the ambit of finance ministry. This would be accountable for managing the government's borrowing programme. The advantages that were stated were higher transparency, helping in debt consolidations, lowering cost of debt and resolving conflict of interest. However, as per RBI governor D Subbarao these benefits may work in few nations, but in case of India where the government borrowings are huge, sovereign debt management surpasses the exercise of merely resource raising. Also, he think that there is no conflict of interest between the debt management and the Central Bank. As per him only the Central Bank had the requisite market gauge and instruments which will help in making contextual judgments. As per him an independent debt agency, driven by narrow objectives would not be able to handle it.
· Speaking at a function to mark the 70th Foundation Day of the Council of Scientific and Industrial Research (CSIR), the Prime Minister has called for mobilisation of private investment into Science sector in order to raise the investment in the scientific research to 2% of the country's GDP. The PM also complimented CSIR for its unique attempt to make healthcare affordable by exploiting the power of open source drug discovery. Earlier, the PM, who is also the President of the CSIR, gave away Shanti Swarup Bhatnagar Prizes for 2011 and the CSIR young scientists awards for 2012.
· A sharp drop in imports has narrowed the country’s current account deficit for the quarter ended June 2012 by 24% over the previous quarter and returned the balance of payment (BoP) into positive territory. According to data released by Reserve Bank of India, the current account deficit — the shortfall in forex inflows arising out of the country’s total imports being more than its exports — shrunk to $16.5 billion for the first quarter of the fiscal, 24% lower than $21.76 billion in the preceding quarter.
· The government should step up the process of stake sale in state run firms, sell minority holdings in Specified Undertaking of the Unit Trust of India (Suuti), Hindustan Zinc and Balco, and take steps to monetize under-utilized land resources of public sector enterprises, port trusts and railways, a panel set up to chart out the roadmap on fiscal consolidation said. The panel headed by former finance secretary Vijay Kelkar also outlined a series of policy steps to repair the battered public finances and help promote growth against the backdrop of a difficult global situation. These include (other than the disinvestment in PSUs) raising the tax-to-GDP ratio, policy measures for pruning expenditure on subsidies and other items of expenditure, rightsizing of plan support, and steps for increasing disinvestment proceeds. [Click here for Graphic]
· Union Labour and Employment Minister had presented the Vishwakarma Rashtriya Puraskar and National Safety Awards for the Performance Year 2010. For the Performance year 2010, the total number of NSA Award Winners and Runners-up in all the ten schemes adds up to 86 (58 winners & 28 runners-up). The “Vishwakarma Rashtriya Puraskar” (VRP), (Previously known as Shram Veer National Awards) and “National Safety Awards” (NSA) have been instituted by the Union Ministry of Labour and Employment in 1965. These are awarded in recognition of outstanding suggestions given by a worker or group of workers and implemented by the management during the previous calendar year (Performance year) resulting in improvement in quality, productivity and working conditions such as safety, health and environmental conservations in the industrial undertakings where “Suggestion Schemes” are in operations.
· Minister of Water Resources released Atlas on Aquifer systems of India for six states viz Kerala, Tamil Nadu, Karnataka, Chhattisgarh, Himachal Pradesh and Meghalaya. The aquifers of India have been classified in to 14 principal and 42 major aquifer systems. The compilation has been done on 1:250,000 scale by integrating the geological and hydro geological data of CGWB & GSI respectively. The atlas provides a country wide overview and summary of the most important information available for each principal and major aquifer systems and depicts aquifer wise ground water scenario. In this process, a baseline data on GIS platform has been created for initiating National Aquifer Mapping Programme and demarcating priority areas for aquifer wise management of ground water resources on scientific and sustainable basis. Attempt has been made to represent the correlations of various thematic layers such as climate, topographic settings on the occurrence, movement, and chemical quality of ground water in map forms. The Atlas will be of immense use for Regional and National ground water resources planning by the policy makers and anyone who needs to understand ground water scenario in the country. Over the past few decades there has been phenomenal increase in water demand and has led to greater dependence on ground water. The gap between demand and supply of water is widening in many parts of the country. The situation has further aggravated over the past few decades in several areas due to deterioration in quality of ground water as well as erratic rainfall. Large numbers of bore wells in some areas are drying up due to declining ground water levels affecting the water supply for various uses. If this situation continues, without suitable management intervention, very soon the sustainability of ground water sources will be jeopardized.
· Union Tourism Minister has informed that tourist from countries having sizable Buddhist population such as Singapore, Malaysia, Thailand, Japan, Korea, China etc. would be provided the facility of Visa on Arrival (VOA). Further, his Ministry had also decided to develop a Ghat in the temple town Varanasi in the name of Lord Buddha on the bank of river Ganga. He said his Ministry had adopted a Keep India Clean Mission to keep clean the cities particularly tourist places across the country to attract maximum tourists. The Minister said India being the land of origin of Buddhism, is the main attraction for the Buddhist tourists from across the globe. Buddhism being a world religion now, its sites have a great attraction for tourists’ world over. Some important Buddhist Destination are: Gaya (Bodhgaya, Nalanda, Rajgir, Barabar caves, Pragbodhi Hill), Varanasi (Sarnath), Kushinagar, Piparva (Kapilvastu, Shravasti, Saniska), Patna (Vaishali, Lauriya Nandangarh, Lauriya Ariraj, Kesariya, Patna Museum), J&K (Ladakh, Srinagar and Jammu), Himachal Pradesh (Dharamshala, Spiti, Kinnaur and Lahaul).
· Brajesh Chandra Mishra, arguably India’s most powerful principal secretary to a prime minister, died in New Delhi. Mishra was the first National Security Advisor and principal secretary to former Prime Minister Atal Bihari Vajpayee. A principal secretary in classical mode, Mishra was instrumental in Vajpayee’s big-ticket foreign policy initiatives like the Lahore bus yatra and re-engagement with the United States after India’s nuclear tests. Mishra played a pivotal role in the Pokharan 2 tests that announced India’s arrival into the nuclear club. On the domestic front, Mishra steered Vajpayee government’s reform initiatives. He was the arbiter on critical issues such as disinvestment and telecom policy. Mishra shared a proximity with Vajpayee and was believed to be the cause of the rift between the PM and his deputy, Advani. After the Tehelka expose, there was a concerted effort by a section of the BJP to force Mishra to resign but with Vajpayee standing by his friend, Mishra was able to withstand the pressure and continue in his position till the NDA government lost power in 2004. Born on September 29, 1928, Mishra was the son of former Madhya Pradesh chief minister Dwarka Prasad Mishra, who belonged to the Congress.
· The Nation is celebrating the 105th birth anniversary of the great son of the soil, Shaheed-e-Azam Bhagat Singh.
· A Special Function was organized on 25th Sep, 2012 to commemorate the 150th Birth Anniversary of Motilal Nehru. Earlier, Govt. of India had decided to commemorate the 150th Birth Anniversary of Motilal Nehru as National Event. A National Committee (NC) had been constituted under the Chairmanship of Prime Minister Dr. Manmohan Singh to consider policies and lay down guidelines for the appropriate commemoration and to decide on the time frame for the Commemoration-related activities. A National Implementation Committee (NIC) were also been constituted under the Chairmanship of Dr. Karan Singh (MP) to implement the decisions of the National Committee. Various programmes and projects will be undertaken during the period 2012-13 such as digitisation of the selected works of Shri Motilal Nehru, re-publication of Nehru Report, organizing special lectures and conferences on the theme “Motilal Nehru and the making of modern India”, setting up of a Motilal Nehru Chair in the Allahabad University etc. Commemorative Coins of Rs. 5 and Rs.150 and commemorative stamps were also released on the occasion.
· The Tamilnadu Assembly will be celebrating its diamond Jubilee on the 29th Oct, 2012. The Assembly in its chequered history has witnessed some of the great leaders like C.V.Rajagopalachari known as Rajaji.
· Mohammed Shafi Teli, the 42-year-old deputy sarpanch of ruling National Conference in Baramulla district (J&K), was shot down by the terrorist. It is the 4th panchayat official killed in the last one year and 2nd in past 2 weeks. Terror outfits like Lashkar-e-Taiba and Jaish-e-Mohammad have been issuing death threats to the panchayat officials, asking them to resign from their posts for past several months. After Yatoo’s killing, over two dozen panch and sarpanch in Palhalan and adjoining areas resigned fearing for their lives. In fact, over 400 such panchayat officials—of the 2000-odd elected—have resigned following attacks since last year. Two weeks ago, the police claimed to have arrested a hardline Hurriyat Conference leader Nasir Ahmad Ganie alias Nasir Molvi for plotting to kill Yatoo.
· The Planning Commission has agreed to extend time (till March, 2013) for the completion of Eastern Kosi Canal System (ERM) of Bihar. Further steps may be taken to avail of central assistance for this project as flood prone area scheme under Accelerated Irrigation Benefit Programme (AIBP).
· In Manipur, altogether 114 militants have laid down arms this morning before the state Chief Minister Okram Ibobi Singh in a home coming ceremony in Imphal. The militants also handed over arms and ammunitions including AK-Rifles, Lathode guns, carbines and pistols. The surrendered militants belong to United National Liberation Front, Kanglei Yawol Kanna Lup, People’s Revolutionary Party of Kangleipak, Kuki National Liberation Front and People’s Liberation Army.
· Goa Chief Minister Manohar Parrikar has led the citizens in paying rich tributes to Dr Tristao Braganza Cunha on the occasion of his 54th death anniversary. He is popularly known as the "Father of Goan nationalism", and was the organiser of the first independence movement to liberate Goa from Portuguese rule.
· The BJP has amended its constitution enabling the party president, and state and district unit chiefs to get a second term. BJP president Nitin Gadkari completes his present tenure in December.
· Justice Altamas Kabir took oath as the 39th Chief Justice of India (CJI) signalling a change of guard that many expect to lower the barriers that hindered interaction among higher judiciary during the 16-month tenure of his predecessor Justice S H Kapadia. His experience as chairman of National Legal Aid Services Authority, which devises practices to make justice accessible to the poor, could help. His amiability helped Justice Kabir deal with situations where litigants became unruly and went on to berate judiciary for corruption in its ranks. His ancestors came from an affluent Bengali Muslim family in Faridpur, now in Bangladesh. Although his father Jehangir Kabir was also influential in Bengal politics, the clan was made famous more by his uncle, Humanyun Kabir, a renowned academic. His branch of the clan chose to migrate to India after the partition in 1947. Justice Kabir’s wife Minna is a child right activist and their two children, too, have studied law. As a lawyer, he practised law, beginning 1973, in district courts and, then, in Calcutta high court. He became a Judge of the Calcutta HC on August 6, 1990. In March, 2005, Justice Kabir became Chief Justice of Jharkhand HC. Six months later, he was appointed an SC judge.
· India's advanced communication satellite GSAT-10 was successfully launched on a board of Ariane-5 rocket from Europe's spaceport in French Guiana. It will augment telecommunication, Direct-To-Home and radio navigation services from its Master Control Facility at Hassan in Karnataka. It also has a navigation payload GAGAN, GPS aided Geo Augmented Navigation that would provide improved accuracy of GPS signals to be used by Airports Authority of India for civil aviation requirements.
· Aishwarya Rai Bachchan has been appointed as the new Goodwill Ambassador for UNAIDS. She will assist the agency to achieve its goal of eliminating new HIV infections among children by 2015.
· The Union Minister of Commerce has informed that India’s bilateral trade with Malaysia stood at nearly USD 13 billion last year registering a growth of 34% over the previous year. The Minister said that during his visits, he identified priority sectors of engagement including Roads & highways, Railways, Airports, IT &ITES, Biotechnology, Tourism, Health Services and JV projects in third countries. Subsequently, the two countries have entered into a Comprehensive Economic Cooperation Agreement which was signed in February 2011.
· Myanmar democracy icon Aung San Suu Kyi received Global Citizen Award from Atlantic council. She received this award from International Monetary Fund Managing Director Christine Lagarde. The honour comes just days after she was awarded the Congressional Gold Medal, the highest civilian honour in the US, in a ceremony in Washington.
· The Supreme Court has issued a notice to the Central Government, SEBI’s current chairman UK Sinha, and Omita Pal - former advisor to the Finance Minister. The notice was issued on a public interest litigation which alleged that Mr Sinha was appointed in violation of rules. The petition also alleged that Mr Sinha had suppressed information about his last drawn salary.
· Noted lyricist and writer Gulzar has been selected for the 27th Indira Gandhi Award for National Integration for the year 2011. The award will be given to Mr. Gulzar by the Chairperson of the Advisory Committee of Indira Gandhi Award for National Integration and Congress President, Ms. Sonia Gandhi on 31st October at a function in New Delhi.
· The United States and India have signed a MoU on Antitrust Cooperation that aims to facilitate greater cooperation between the U.S. and Indian competition authorities to enhance the effective enforcement of their competition laws, to share and to keep each other informed of significant competition policy and enforcement developments. The cooperation between the two countries shall also establish good communications between the U.S. and Indian competition authorities on competition law and policy towards improving and strengthening the relationship between the two countries.
· Amid reports of a ban call by CPN-Maoist in Nepal on vehicles with Indian registration number and screening of Hindi movies, the Nepalese government has assured India that it will not support any such activity and strict action will be taken to ensure that the ban is not implemented.
· The UN High Commissioner for Refugees told that around 3 lakh refugees have already left Syria due to the escalation in violence and their number is expected to go up to 7 lakhs by the end of this year. The refugees have taken shelter in the refugee camps in the neighboring countries Jordan, Turkey, Lebanon and Iraq. The UN refugee Agency called for stepping up of emergency funding worth $490 million to help the Syrian refugees. In an appeal it said that the need for funding is urgent because of a shortage of housing as the winter arrives. Several refugees died or were hospitalized from exposure to the cold living in poor shelter last winter. In addition the UN refugee Agency has to provide health care facilities in the refugee camps and meet the education needs of the displaced children as well.
· A picture released by the European Southern Observatory shows a newly discovered galaxy cluster that has been nicknamed El Gordo — the ‘big’ or ‘fat one’ in Spanish. It consists of two separate galaxy subclusters colliding at several million kilometres per hour, and is so far away that its light has travelled for seven billion years to reach the Earth. This galaxy cluster, officially named as, 'ACT-CL J0102-4915'.
· NASA's Curiosity rover has found geological evidence of water which once ran vigorously across the area on Mars, after discovering gravel carried by an ancient stream on the Red planet. NASA said, there is earlier evidence of the presence of water on Mars, but the latest images of rocks containing ancient streambed gravels are the first of their kind.
· World Tourism Day is being observed across the globe on 27th Sep, 2012 to create awareness on the significance of tourism within the international community and demonstrate how it affects social, cultural, political and economic values worldwide. This year, the theme is “Tourism and Sustainable Energy: Powering Sustainable Development”. The theme aims to highlight the role of tourism in a brighter energy future in which the world’s entire population has access to modern, efficient and affordable energy services. In his message, UN Secretary-General Ban Ki Moon has said that as one of the world’s largest economic sectors, tourism is especially well-placed to promote environment sustainability, green growth and our struggle against climate change through its relationship with energy.
· Ronjan Sodhi (India's biggest medal hopefuls in London 2012 Olympics, but, failed) won a Silver Medal at the ISSF World Cup in Slovania. ISSF Worldcup is the world wide shooting competition hosted by International Shooting Sport Federation. It is third year in a row that Mr Sodhi has won a medal at World Cup finals. In the previous two editions -- 2010 and 2011 -- he had won a gold each.
· Edwin Kipyego from Kenya and Yimer Wude from Ethiopia won the men and women's race in the 5th edition of the Delhi Half Marathon (21km).
· Former Indian Indian middle-order batsman and coach Sandeep Patil has been appointed as the Chairman of the National Selection Committee, while Mohinder Amarnath was sacked after serving just one year in the panel. The other four members of the committee include Saba Karim, Roger Binny, Vikram Rathour and Rajinder Singh Hans. The Board has also decided to increase the remuneration for the selectors to Rs 60 lakh from Rs 40 lakh.
· Indian wrestler Babita Kumari wins bronze medal in 51 KG category at World Wrestling Championships in Canada. Babita became the second Indian female wrestler to win a World Championships medal after she clinched a bronze in Edmonton, Canada. Babita defeated Zamira Rakhmanova from Russia in the repechage round to win the Bronze Medal.
· India's Geeta Kumari has won a Bronze Medal in the 55 kilogram category of the World Women's Wrestling Championship at Edmonton, Canada. This is the second Bronze, India got at the championship.