Friday, December 6, 2013

december current news

1.    Delhi: record turnout of 65.13 per cent registered in Assembly polls
i. Breaking all records, Delhi registered the highest-ever voter turnout of 65.13 per cent in the Assembly polls with men and women coming out in almost equal numbers to exercise their franchise, Delhi's Election Commission said today.

ii. In 2008 Assembly polls, the overall voting percentage was 57.58 while in 1993, it was 61.75 per cent. Out of 1.19 crore eligible voters, over 77.7 lakh people exercised their franchise yesterday. The number of first-time eligible voters is 4.05 lakh.
iii. Creating history, 65.48 per cent men and 64.68 women cast their ballot in the three-cornered contest among Congress, BJP and debutant Aam Aadmi Party (AAP).
iv. The highest turnout was recorded in the Seemapuri seat (72.19 per cent), while the lowest polling was in Ballimaran with 56.20 per cent.
v. A total of 810 candidates are in the fray. Counting of votes is scheduled to take place on December 8.

2.    India to set up HVDC transmission line with Nepal, Bhutan
i. India is working to set up an energy efficient power transmission line (HVDC) with Nepal and Bhutan as part of its energy security plans, External Affairs Minister Salman Khurshid said.
ii. India also hopes to have power transmission connectivity with ASEAN and SAARC countries, including Pakistan, Afghanistan and Myanmar, External Affairs Minister Salman Khurshid said on Thursday while addressing the World Energy Policy Summit 2013 in New Delhi. 
iii. India has been working for the last few years to put in place a multilateral SAARC Market for Electricity (SAME) and has plans to set up a larger SAARC (South Asian Association for Regional Cooperation) transmission grid. 
iv. In October, Prime Minister Manmohan Singh had dedicated to the nation the 71-km Baharampur-Bheramara HVDC transmission link, which connected electricity grids of India and Bangladesh. 
v. As far as Bhutan is concerned, India's transmission link with that country is already in place.

Sunday, September 1, 2013

summits

SUMMIT 

1. London to host 9th Islamic economic forum - The ninth edition will be held at London's Excel Centre between 29th and 31st October, first time that the event will be held outside of a Muslim country


2. 7th Regional Pravasi Bhartiya Divas to be held in Sydney


 3. 5th Tokyo International Conference on African Developmentl - Yokohama (Japan)


4. 8th Session of the India-Yemen Joint Committee for Economic, Scientific and Technical Cooperation (JCM) took place in New Delhi


 5. WEF India chapter meet: Kochi will host the 29th annual meeting of the World Economic Forum (India chapter) on November 8 and 9. This is the first time that World Economic Forum (India chapter) event was being planned for South India. Earlier, 27 Meetings of World Economic Forum were held in New Delhi and once in Mumbai, Maharashtra.


6. 4th India-US Strategic Dialogue - New Delhi


7. 3rd SAARC Ministerial Level Meet on Poverty – Nepal


8. 6th IBSA ( India, Brazil, South Africa) Summit – New Delhi, India


9. 46th annual general meeting of the Manila-based multilateral lending agency held at Greater Noida.

10 BRICS summit
 i. Country: Brazil, Russia, India, China, South-Africa.                                            ii. 4th Summit 2012: New Delhi

 iii. 5th Summit 2013: South Africa (Durban) from 26 to 27 March 2013 at the Durban International Convention Centre (ICC). 

iv. The possibility of setting up of a development bank and investment fund and promoting trade within this group in local currencies are particularly encouraging and progress in finalising these.

 v. Brazil and China Signed the Currency Swap Agreement: BRICS Summit 2013.

Thursday, August 29, 2013

sports

SPORTS

1. CRICKET

 i. India lifts Champions Trophy 2013: by defeating England in a rain-hit final in Birmingham. Ravindra Jadeja declared man of the match and Shikhar Dhawan declared man of the tournament

 ii. England to host Cricket World Test Champions in - 2017, ODI World Cup in - 2019

 iii. India will host the: World T20 Cup -2016, World Test Championship 2021, World Cup for the fourth time in 2023

 iv. Australia to host 2019 World Cup and World Twenty20 in 2020

 v. West Indies to host Women's World T20 in 2018 and Under-19 Cricket World Cup in 2022. 

vi. Afghanistan was granted the Associate membership of the ICC, making it the eighth Asian nation and the 38th overall to get the status.

 vii. Rajeev Shukla resigned as Chairman of IPL 

viii. Mumbai Indians won IPL (6) 2013, defeated Chennai Super Kings in final ix. Indian pacer S. Sreesanth, Ajit Chandila and Ankeet Chavan were caught bu Delhi Police in spot-fixing racket in the ongoing Indian Premier League matches

 x. Gurunath Meiyappan, son-in-law of BCCI president N. Srinivasan and CEO of Chennai Super King team was arrested on charges of betting, conspiracy and cheating 

xi. Sachin Tendulkar announced his retirement from Indian Premier League

 xii. Shikhar Dhawan first Indian Cricketer who scored a ton on Test debut as an opener


xiii. Chris Gayle (Royal Challengers Bangalore player) has set a new record for the fastest century in just 30 balls IPL 2013 (T20) 6th edition against Pune Warriors Tennis


2. Wimbledon – 2013

i. Men’s Single: Andy Murray(Britain) defeated Novak Djokovic (Serbia) 

ii. Women’s Single: Marion Bartoli (France) defeated Sabine Lisick (Germany) iii. Men’s Doubles: Bob and Mike Bryan defeated Dodig & M. Melo


3. French Open 2013:

 i. Men’s Single: Rafael Nadal Defeated David Ferrer ii. Women’s Single: Serena Willimas Defeated Maria Sharapova iii. Men’s Doubles: Bob and Mike Bryan Defeated Michael Llodra & Nicolas Mahut iv. Mixed doubles: Frantisek Cermak and Lucie Hradecka defeated Daniel Nestor and Kristina Mladenovic

4. Miami Open 2013

 i. Andy Murray beat David Ferrer ii. Serena Williams beat Maria Sharapova.


5. Italian Open 2013

i. Rafael Nadal beat Roger Federar ii. Serena Williams defeated Victoria Azarenka


6. Madrid Open 2013

 i. Rafael Nadal beat Stanislas Wawrinka ii. . Serena Williams beat Maria Sharapova.


7. Australian Open 2013:

i. Men Single: Novak Djokovic(Serbia) bt Andy Murray(Britain).

 ii. Women Single-Victoria Azarenka bt Li Na( china)

 iii. Men Double: Bob & Mike Byan bt Robin haase & Igor Sijsling.

 iv. Women Double: Sara Errani and Roberta Vinci(Italy) bt Ashlegh Barty and Casey Dellaqua


8. Sudirman Cup

 China defeated South Korea 

9. PV Sindhu won Malaysia Badminton Grand Prix Title Gu Juan of Singapore 

10. Brazil beats Spain to win Confederations Cup 2013

 11. Parimarjan Negi won the Continental Chess Association Open title defeated Bindi Cheng

 12. Ace discus thrower Vikas Gowda clinched the first gold for India in the 20th Asian Athletics Championships in Pune 

13. Chris Martin, the fast Bowler of New Zealand has announced his retirement from all forms of cricket. 

14. K Srikanth clinched defeated Boonsak Ponsana to clinch the Thailand Open Grand Prix Badminton 2013

 15. Sebastian Vettel defeated Ferrari’s Fernando Alonso to win Canadian Grand Prix 

16. 4th Kabaddi World Cup will be held in Punjab in November

 17. BCB (Bangladesh Cricket Board) Former Bangladesh captain Mohammad Ashraful match-fixing charges in Bangladesh Premier League. 

18. Bayern Munich won German Cup 2013 defeated Stuttgart 

19. Ananya Gupta claimed a bronze medal in the World School Chess championship held at Haldikki in Greece

 20. Ragala Venkat Rahul bags three Golds in Asian Youth Weightlifting


21. MS Dhoni becomes first captain to win all ICC trophies


22. Boxer Manjeet Singh won Silver medal at China Open: 

23. Bolt won Jamaican 100 title to reach World Championships


24. Pune host Asian Athletic Championship meet in July 

25. Delhi to host South Asian Junior Table Tennis 

26. India win silver in Archery World Cup: Rajat Chouhan and Manjudha won silver medal at the World Cup (Stage-II) Archery competition in Turkey.

 27. Prasanna new Grand Master : V Vishnu Prasanna celebrated his new Grandmaster status by outwitting seasoned GM Boris Chatalbashev of Bulgaria

 28. Punjab beat Odisha to lift HI Jr. Men's National Ch'ship: 

29. Australia became the third country after Japan and hosts Brazil to reach next summer's World Cup after sealing a dramatic late win against Iraq.

 30. Mahendra Singh Dhoni was named captain of the ICC's Team of the Champions Trophy 

31. Australia (CA) sacked Mickey Arthur and appointed Darren Lehmann as the new coach of the Australian team.

 32. V Vishnu Prasanna celebrated his new Grandmaster status by outwitting seasoned GM Boris Chatalbashev of Bulgaria


33. Somyajeet Ghosh - become the youngest national Table Tennis Champion 

34. Rupesh Shah clinched the 12th Asian Billiards championship title after beating compatriot Alok Kumar in the final

 35. Narayanan Srinath retained his Asian Junior title by defeating J Saranya at the Asian Junior Chess Championship


36. Preeti Beniwal won gold in 2013 Senior National Women's Boxing Championship


37. Winner Asian Chess Championship 2012 – Parivarjan Negi. 

38. Serena Williams named WTA Player of the Year 2012 after winning Wimbledon


39. Grenke Chess Classic Trophy 2013 - Viswanathan Anand (India) after defeating Arkadij Naiditsch (Germany.)


40. ICC Women’s World Cup 2013 - Australia defeated West Indies at Brabourne Stadium in Mumbai

Wednesday, August 28, 2013

AWARDS


  •  1. “Emirates Woman Award” - Vandana Gandhi for excelling and providing innovation in preschool education and leadership, strategy, community service.
  •  2. 21st Century Achievement Award 2013 – UIDAI :The International Data Group (IDG) Computerworld Honours Program, Computerworld Honors Laureate has honored Government of India initiative UIDAI with 21st Century Achievement Award 2013 under the category ‘Economic Development’.
  •  3. 2013 Indian Business Leader of the Year” award: Sanjeev Goenka
  •  4. Yellow Oscar’ award - Indian short film ‘High Power’. This film (made in 2012) is based on the project- affected people of Tarapur Atomic Power Station. Pradeep Indulkar is the producer-director of this film accepted the award
  • 5. Wernher von Braun Memorial Award: APJ Abdul Kalam: The honour is given to recognise excellence in management and leadership in a space-related project
  • . 6. Indian-American Sathwik Karnik Wins National Geographic Bee Contest
  •  7. Indian-American Arvind Mahankali wins Spelling Bee for sixth straight year
  •  8. Nasscom award - Sentinel, developed by MindHelix Technosol Pvt. Ltd., and iFollow, from Aucupa Innovative Solutions, were among the winners of Nasscom's first all-India App Fame Contest to search for mobile tools to aid personal safety of women and to help deal with emergencies.
  •  9. ‘Indian Healthcare Visionary of the Decade’ award - Dr Mukesh Hariawala (Healthcare Economist) for unveiling a unique and novel customized universal health insurance model ‘Womb to Tomb’, concept. 
  • 10. IMPAC Dublin Literary Award - Kevin Barry, for his debut novel, City of Bohane
  •  11. Venezuela journalism prize - Huga Chavez (posthumously) 
  • 12. Walter Scott Prize 2013: Tan Twan Eng (Malaysian author) for his Novel ‘The Garden of Evening Mists’ 
  • 13. Manappuram award - Vinod Rai (Former CAG), under the category of civil servant achieving excellence in public administration. Award was given by Manappuram Finance Limited (MFL).
  •  14. NTR National Literary Award (2013) - Manoj Das (Oriya writer)
  • 15. Man Booker International Prize(2013) - Lydia Davis
  • 16. United Nation's Public Service Award (2013) : Oommen Chandy (Chief Minister of Kerala) for his Mass Contact Programme 
  • 17. Asian Award: Anupam Kher, for his performances in movies like “Silver Linings Playbook“, “Bride & Prejudice“, and “Bend it Like Beckham“.
  • 18. 2013 Pulitzer Prize - Adam Johnson for fiction for his novel “The Orphan Master’s Son
  • 19. Vyas Samman (2011) - Professor Ramdarash Mishra
  •       3. Vyas Samman (2012) - Dr Narendra Kohli “Na bhooto na bhavishyati”
  • 20. Bihari Puraskar (2012) – Hariram Meena for his hindi novel Dhooni Tape Teer
  • 21. Gershwin Prize for Popular Song. Carole King (US singer-songwriter)
  • 22. Jnanpith Award - 2011 - Pratibha Ray
  • 23. Jnanpith Award – 2012 - Ravuri Bharadwaja
  • 24. Dadasaheb Phalke Award 2012– Pran Krishan Sikand
  • 25. Dadasaheb Phalke Award 2011 – Saumitra Chatterjee.
  • 26. Dadasaheb Phalke Academy Awards 2013 - Yash Chopra and Rajesh Khanna
  • 27. Phalke Ratna Award - Asha Bhosle
  • 28. Abel Prize 2013- Pierre Deligne (Belgian Mathematician)
  • 29. Pulitzer Prize 2013 - The New York Times won four Pulitzer Prizes
  • 30. Saraswati Samman (2013) – Sugathakumari, ( the Malayalam poetess for the poetry collection ‘Manalezhuthu’, which means The Writing on the Sand in English
  •  31. Saraswati Samman (2012,) – Rohit Gautam for Bang Bhoomi (conferred by K. K. Birla Foundation)
  • 32. Moorti Devi Award (2012) – Gopichand Narang
  • 33. UNA-USA's Global Leadership Award called (Champion for Global Change Award) - Pakistani activist, Malala Yousafzai
  • 34. Lata Mangeshkar Samman (2013): Singer Hariharan
  • 35. Asom Ratna Award for the year (2012): Indira Goswami (posthumously)
  • 36. Srimanta Shankardeva Award (2008): Sharmila Tagore
  • 37. ISRO Young Scientist Award (2013): Jenita Mary Nongkynrih for her urban information system project in the North East.
  • 38. RedInk Lifetime Achievement Award (2013) - N. Ram(Former Editor-in-Chief of The Hindu) and Kuldip Nayar (veteran author-journalist-activist)
  •  39. Indira Gandhi Prize for Peace, Disarmament and Development 2011- Ella Bhatt (Founder of Sewa)
  •  40. Indira Gandhi Prize for Peace, Disarmament and Development 2012- Ellen Johnson Sirleaf (president of Liberia)
  •  41. National e-Governance award - Madhya Pradesh for 2012-13, for its 'Sparsh Abhiyan' aimed towards the disabled and the aged.
  • 42. Doctorate of Civil Law – President Pranab Mukherjee was conferred an honary degree of Doctorate of Civil Law by the University of Mauritius
  •  43. Jammu and Kashmir won FE India’s Best Bank Award 2012-13.
  •  44. Satellite Hall of Fame - U. R. Rao: Top Indian space scientist has been inducted into the Satellite Hall of Fame t in Washington DC by the Society of Satellite Professionals International, in the US
  • . 45. 'International Refiner of the Year' 2013 - Reliance Industries

Monday, August 12, 2013

new appointments

60. Britain launched a new “super priority” same-day visa service for Indian business travelers and cash-rich frequent flyers. 61. Myanmar President Thein Sein becomes the first leader of his country to visit the White House in nearly half a century.
62. Facebook became a full member of the Global Network Initiative, a non-governmental organisation promoting Internet freedom and privacy rights.
63. Central Detective Training School (CDTS) will be set up in Ghaziabad.
64. Gujarat Chief Minister Narendra Modi inaugurated a Lakulish Yoga University in Ahmedabad has been setup by the Surendranagar-based Life Mission Trust
65. The Union government has given the nod to a proposal to grant the Rajaji National Park in Uttarakhand the status of a tiger reserve. 66. SAARC Film Festival held in Colombo (Sri Lanka): Indian film “Paan Singh Tomar” won the best Feature Film award. The Director of the film, Tigmanshu Dhulia was named the Best Director. Kaushal Oza from India received a Special Jury Award for his documentary “Afterglow”.
67. Mahatma Gandhi National Rural Guarantee Act (MNREGA),2005 ensures 150 days of employment in a drought-affected states.
68. Recently Indian Telecom Sector Became the Second Largest Telephone Network in the World. China has the largest Telephone Network in the World
69. Pakistan successfully test-fired the nuclear-capable Hatf-IV (Shaheen-1) ballistic missile (900 Km range)
70. Russia launched the bio-satellite (BION-M) called orbital Noah's
71. Nitaqat is a programme of the Saudi Labour Ministry to create job opportunities for its nationals by replacing a small percentage of the foreign workforce with Saudi youths.
72. Railway Minister Pawan Kumar Bansal launched Wi-Fi service in Delhi-Howrah Rajdhani Express at the New Delhi railway station.
73. Karnataka has emerged top performer in the country in management of rural drinking water schemes and devolution of powers to panchayat raj institutions (PRIs) in 2012-13 and received an incentive of Rs. 241.1 crore from the Union government.
74. After imposition of sanctions by the U.S. and European Union, Iraq has replaced Iran as the second largest exporter of crude oil to India. Saudi Arabia, however, still remains the largest exporter of crude to India.
75. According to Assocham Gujarat, Odisha and Andhra Pradesh attracted highest private sector investment in India
76. A Nepalese presenter Rabi Lamichhane has set the world record for the longest television talk show “Lord Buddha Was Born in Nepal” by staying on air for 62 hours and 12 minutes
77. United Nations Special Reporter on violence against women, Rashida Manjoo visited India
78. Centre to set up country's 1st geothermal power project in Ladakh
79. E-stamping to be launched in Delhi on 28 June of all denominations.
80. Odisha became the 1st Indian state to commence e-payment facility for government employees.
81. Asia’s first hydro electric power plant is located in - Sivasamudram 82. West Bengal State Govt. has decided to give fixed salary to all Accredited Social Health Activists (ASHA) workers from next financial year.
83. China has unveiled a five point formula to improve relations with India
84. India’s First River-lake link project launched In Bundelkhand
85. India has allowed FDI from Pakistan. 86. Haryana bags ‘Krishi Karman Award’ for highest wheat production. 87. Kerala Govt. Raised Age Limit (18 to 21 ) for Buying and Selling Liquor. 88. Arunachal Pradesh became the First State to Introduce e-GPF. 89. MP leads in growth rate with Gross State Domestic Product for 2012-13 is likely to be 14.28 % and agriculture growth rate about 10.02%. 90. Tripura, Manipur and Meghalaya got their own High Courts. Mr. Justice Abhay Manohar Sapre is the first Chief Justice of the new Manipur High Court, Justice T Meena Kumari has become the first Chief Justice of NEW APPOINTMENTS IN INDIA
1. Sujata Singh – New Foreign Sec. She succeeded Ranjan Mathai 2. Justice P Sathasivam - New CJI(Chief Justice of India). He Succeeded Altamas Kabir’s 3. Avinash Chander - New Defence Research and Development Organisation (DRDO Chief) replaced V. K. Saraswat 4. Infosys appoints Narayana Murthy as Executive Chairman 5. Sunil Soni – New Director General of Bureau of Indian Standards
6. Shashi Kant Sharma - New Comptroller and Auditor General (CAG) of India, replaced Vinod Rai.
7. Kushal Singh - New Chairperson of National Commission for Protection of Child Rights (NCPCR) – 8. Justice Sanjay Kishan Kaul takes oath as new CJ of Punjab & Haryana high court 9. Sudha Sharma: New CBDT chief (Central Board of Direct Taxes). She succeeded Poonam Kishore Saxena 10. K R Kamath Re-Elected as the Chairman of Indian Banks' Association (IBA) 11. SK Roy New Chairman of Life Insurance Corporation 12. Asian Athletics Association') President's - Dahlan Jumaan Al-Hamad New Cabinet Ministers: 1. Mr. Oscar Fernandes - Road and Highways Minister 2. Ms. Girija Vyas - New Housing, Urban Development and Poverty Alleviation Minister. 3. Mr. K.S. Rao - New Textiles Minister 4. Mr. SiS Ram Ola – New Labour and Employment Minister. 5. Mallikarjun Kharge: New Railway Minsiter Ministers of state i. EMS Natchiyappan takes oath as MoS commerce and industry ii. J D Seelam becomes MoS finance iii. Manikrao Gavit gets social justice and empowerment iv. Santosh Chowdhury gets health & family welfare New Governor Appointed in different states: 1. Shriniwas Patil - Sikkim governor 2. K K Paul – Governor of Meghalaya replacing Ranjit Shekhar Mooshahary. Najeeb Jung(Vice Chancellor of Jamai Milia University) –Lieutenant Governor of Delhi 3. Nirbhay Sharma - Governor Arunachal Pradesh 4. Narinder Nath Vohra - Governor of J & K for second term 5. BV Wanchoo: Governor of Goa 6. E S L Narasimhan - Governors of Andhra Pradesh 7. K Sankaranarayanan - Governors of Maharashtra

Thursday, August 8, 2013

ECONOMY UPDATES


CONTINUED.................51. Bank of India opened its 1st Branch in South Africa.52. LIC Housing Finance has launched a new home loan product called “Bhagyalakshmi” for women home seekers.53. The Delhi Metro Rail Corporation (DMRC) will implement the Rs.5,182-crore Kochi Metro Rail project with E.Sreedharan as its Principal Adviser.54. Govt. postponed the implementation of GAAR by two years to April 1, 2016.55. The Indian tea industry has finally breached the 1 billion kg-mark in production. 56. SBI opened its 2nd branch in China (Tianjin), While 1st in Shanghai.57. Gujarat has topped in terms of governance and inclusive growth in Economic Freedom of the States of India 2012' . 58. ICICI Partnered With Aircel to Launch Mobile Banking Service.59. Madhya Pradesh is the first State to fully utilize tourism plans funds. 60. SEBI allowed mutual funds to park 20% in gold deposit schemes. 61. Bharat Heavy Plate & Vessels Ltd. (BHPV) Merged With BHEL. 62. P Chidambaram has launched the Centralized Processing Cell for Tax Deducted at Source (CPC-TDS). 63. Union Govt. announced to spend Rs. 1000 crores in the current financial year to increase rice production in the eastern states. 64. ADB to provide $300 million loan to Chhattisgarh for overhauling roads 65. NSE ranked 12th in the world Stock Exchange List 66. World Bank will provide India $3-5 billion assistance annually over the next four years to help eradicate poverty and improve healthcare mainly in the low-income statesNEXT SECTION8. India ranking in different Indexes: 1. Global Hunger Index- 66 2. Global Peace Index – 141 3. Human Development Report – 136 4. Global Corruption Index – 94 5. Global Competitiveness Index-59th for 2012.9. World Bank Global Forecast:1. 2.3 % global GDP growth in 2012 2. 2.2 % global GDP growth in 2013 earlier projected 2.4% 3. 3.1 % global GDP growth in 2014 4. 3.3 % global GDP growth in 2015 World Bank Forecast GDP growth rate for India: 1. 5.7% in 2013-14 2. 6.5% in 2014-15 3. 6.7% in 2015-1610. IMF Forecast: 1. According to IMF the global economy will expand 3.3 percent this year, less than the 3.5 percent forecast in January 2013. 2. IMF slashed Economic Growth Rate of India to 5.7 percent from 5.9 percent for 2013 and forecast 6.2 percent for 2014 NOTE: Reserve Bank pegged GDP (Gross Domestic Product) growth rate for the current fiscal at 5.7 per cent, significantly lower than the Finance Ministry's forecast of 6.1 to 6.7 per cent for 2013-1411. COMMITTEE IN NEWS: 1. Committee Set Up On Uttarakhand Floods: The committee will be headed by AK Ganju (Chairman, Ganga Flood Control Commission, Patna)2. JS Mathur committee : to revise Newspaper Advertisement Rates. 3. K. Ratna Prabha : Committee on indecent depiction of women in media4. Mukul Mudgal Committee: looking into US giant Walmart's lobbying activities to enter India

Wednesday, August 7, 2013

ECONOMY NEWS

6. ECONOMY NEWS: (INDIA & WORLD)
1. World Bank to provide $84 million Loan to Bihar for Panchayat Strengthening Project 2. The State Bank of Travancore launched a new service for its customers - doorstep banking. Customers who opt for this service have to just ring up the bank and inform it that money has to be deposited and soon the bank's vehicle along with its staff will arrive at the doorstep to collect the amount. The minimum pick- up will be Rs. 5 lakh and the maximum would be Rs. 20 million. 3. At present India’s foreign exchange reserves is $ 293.84 billion. 4. India WPI-based inflation in May falls to 4.7%: 5. World Bank to provide $255 mn loan for AIDS control proj: An agreement for loan of USD 255 million (equivalent) from World Bank for the 'National AIDS Control Project (NACP-IV)' was signed in New Delhi between India and the World Bank 6. India retains world's 3rd most attractive FDI destination slot. India was ranked after China and United States 7. CAD touches record high of 4.8% in 2012-13 8. Canara Bank to open MSME (Micro, Small, and Medium Enterprises) branches in Tiruchi, Perambalur 9. Axis Bank launches co-branded credit card that offers a blend of insurance and a number of travel benefits for international frequent flyers. 10.
11. IIFCL Mutual Fund launched its maiden infrastructure debt fund (IDF) scheme with the support of investors viz. Canara Bank and HUDCO being the strategic investors and Corporation Bank, Oriental Bank of Commerce & IIFCL being the other investors. Chairman of IIFCL S.K. Goel NOTE: India Infradebt Limited (Infradebt), India’s first Infrastructure Debt Fund (IDF) under the Non-Banking Finance Company structure, achieved the distinction of being first IDF-NBFC to get the ‘CRISIL AAA’ credit rating. 12. China, Britain set up currency swap line: China has expanded its currency convertibility to Britain as the central banks of the two countries signed a three-year sterling-yuan currency swap line to boost bilateral trade and financial stability. 13. Yes Bank launches “Incredible India Travel card” in association with the Tourism Ministry.
14. According to OECD: India has probably surpassed Japan to become the world's third largest economy after the US and China
15. Retail inflation, measured by the Consumer Price Index (CPI), slipped markedly by one percentage point to 9.39 per cent in April this year from 10.39 per cent.
16. Indian economy is projected to grow by 6 per cent in the current fiscal: World Bank
17. Vijaya Bank is the first bank which announced that its Risk Management Department has received ISO 27001 certification from the British Standards Institute.
18. NMDC Ltd. and IndusInd Bank were included in the CNX Nifty index of the National Stock Exchange (NSE), replacing Wipro and Siemens
19. Current account deficit (CAD) widened to a record high of 6.7 per cent of the GDP (gross domestic product) in the October-December quarter this fiscal.
20. The World Trade Organization (WTO) cut its forecast for global trade growth in 2013 to 3.3 per cent from 4.5 per cent. 21. YES Bank has been awarded the Financial Institutions Syndicated Deal of the Year 2012 in its Asia Pacific Region. 22. “Tatkal” scheme is launched by SBI (State Bank of India) that enables the people to transfer money to their families in their native towns and villages without actually opening an account.
23. Consumer price index-based (CPI) retail inflation finally eased to 10.39 per cent in March from 10.91 per cent in February
24. World Bank Said: India is the largest recipient of remittances in the world, receiving $69 billion in 2012
25. Prime Minister’s Economic Advisory Council (PMEAC) pegged the GDP (gross domestic product) growth rate for the current fiscal year at a realistic 6.4 per cent 26. The Foreign Investment Promotion Board (FIPB), headed by DEA Secretary Arvind Mayaram, approved the proposal of Air Asia's India investment plans, which allows up to 49 per cent FDI. Rs 80 crore is initial investment. 27. The taxation authorities in India has made E-filing mandatory for all the taxpayers in the country who earn more than Rs. 5 lakh per annum to file their tax returns online.
28. Coal India Ltd will invest Rs 7,500crore to develop railway infrastructure in Chhattisgarh, Jharkhand and Odisha.
29. IRCTC introduced Interbank Mobile Payment System.
30. India and World Bank Signed 500 Million Dollar Deal for Shiksha Abhyan. 31. The Govt. has increased the capital base of India’s apex development bank NABARD to Rs 20,000 crore from existing Rs 5000 crore.
32. According to IBA (Indian Banking Association) guidelines duration of education loans would be increased 7 – 10 yrs. In special case it would extend to 15 yrs.
33. India ranked 5th On the List of High Net worth Individuals, according to the Knight Frank Wealth Report 2013. 34. Govt approved Rs 12,517cr (December 2012) capital infusion in PSU banks to meet BASEL III norms. 35. Maharatna status for BHEL and GAIL. 36. Govt. declared use of MGNREGA linked Post Office Accounts for Direct Cash Transfer. 37. P. Chidambaram launched Rajiv Gandhi Equity Savings Scheme (RGESS) in Mumbai 38. ADB gave 100 Million US Dollar Loan to Uttarakhand for the urban infrastructure programme. 39. The government signed a $60 million loan agreement with the World Bank to improve watershed operations in seven districts of Karnataka. 40. MCX-SX became the third full-fledged equity bourse after BSE and NSE in the country. 41. SEBI has introduced electronic IPOs from January 1, 2013.
42. Indian banks would need Rs 3,90,000-5,00,000 crore capital over the next six years in the wake of Basel III capital regulations announced by the RBI.
43. After SBI and NABARD ownership of National Housing Bank (Now RBI hold 100% share) will be transferred from RBI to Government.
44. India will help Sri Lanka to establish special economic zone in automobile and pharma.
45. India signed an agreement with Belgium for the modernization of the Indian Railways. 46. India and Russia signed pacts on Economic Ties for $2 billion Investment Fund.
47. The ADB has offered $150 million loan for the expansion of railway tracks and to improve overall service in the country. 48. National Savings Certificate matures at the end of 5 years.
49. ADB announced to provide $74.8 million loan to improve road connectivity in the North East states.

50. India and Pakistan have agreed to allow two banks each from both, the countries to set up branches across the border. The two Indian banks are SBI and Bank of India and two Pakistani banks are National Bank of Pakistan and United Bank Ltd.

Wednesday, July 31, 2013

union budget 13

iii. In April, 2004, NIC signed an agreement with Nainital Bank for distribution of its general insurance products through the bank's branches in Uttarakhand, Haryana and New Delhi. iv. National Insurance Company Ltd (NIC) is one of the leading public sector insurance companies of India, carrying out non life insurance business. v. NIC's foreign operations are carried out from its branch offices in Nepal. vi. As of 2010, NICL has a AAA rating from Indian rating agency, CRISIL, a subsidiary of Standard and Poor's Company NICL has a range of coverage policies targeting different sectors i. Personal Insurance policies include medical insurance, accident, property and auto insurance coverage ii. Rural Insurance policies provide protection against natural and climatic disasters for agriculture and rural businesses iii. Industrial Insurance policies provide coverage for project, construction, contracts, fire, equipment loss, theft, etc. iv. Commercial Insurance policies provide protection against loss and damage of property during transportation, transactions, etc 2. The New India Assurance Company Limited: The New India Assurance Co. Ltd., based in Mumbai is one of the five Government-owned assurance companies of India. It was founded by Dorab Tata in 1919, and was nationalised in 1973. Chairman& MD: Shri G. Srinivasan (headquarter –Mumbai) i It is the "largest general insurance company of India on the basis of gross premium collection inclusive of foreign operations". ii. New India Assurance operates both in India and foreign countries. In the recent past it has collaborated with some of the leading public sector banks of India such as State Bank of India, Central Bank of India, Corporation Bank and United Western Bank to increase its distribution network. 3. The Oriental Insurance Company Limited: was incorporated at Bombay on 12th September 1947. i. The Company was a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business. ii. The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973 ( till the General Insurance Business was nationalized in the country). iii. In 2003 all shares of our company held by the General Insurance Corporation of India has been transferred to Central Government. Chairman & MD: Dr. A.k Saxena (headquarter –New Delhi) 4. United India Insurance Company Limited(UIIC): is the one among the 4 public General Insurance Companies of India and a leading General Insurance player including public and private sector. i. With the networth of Rs 4,587 crores as on September 30, 2011, The company has more than three decades of experience in Non-life Insurance business. ii. It was formed by the merger of 22 companies, consequent to the nationalisation of General Insurance companies in India. Its Head Quarters is at Chennai, India. Chairman & MD: Shri Milind A Kharat.
5. UNION BUDGET 2013-14 The Union Budget 2013-14 presented by Finance Minister P Chidambaram. Amount Allotted for Major Sectors:
SNO.
Sector
Amount (in Crores)
1.
Total budget
1665297
2.
Planned expenditure
555322
3.
Unplanned expenditure
1109975
4.
Kisan credit card
7 Lac
5.
Defence
203672
6.
Rural development Scheme
80194
7.
Human resource department(HRD)
65869
8.
MGNREGA
33000
9.
Sarva shiksha abhyan
27258
10.
Pradhan mantri gram sadak yojana
21700
11.
RIDF(Rural Infrastructure Development Fund)
20000
12.
Integrated child development scheme
17700
13.
Drinking water and sanitation
15260
14.
Indira Awaj Yojana
15184
15.
JNNURM
14873
16.
Public sector banks
14000
17.
Mid day meal
13215
18.
SIDBI
10000
19.
Agriculture development project
9954
1. The revised expenditure target is Rs 14,30,825 crore. 2. No change in income tax slabs. 3. Relief of Rs 2,000 for tax payers in tax bracket of Rs. 2-5 lakh. 4. Headline WPI inflation to 7 % and core inflation to 4.2 %. 5. Average economic growth rate in 11th Plan period is 8 %, highest ever in any Plan period 6. Rs 14,873 crore for JNNURM for urban transportation in 2013-14 against Rs 7,880 crore in the current fiscal. 7. Current year's economic growth rate will be below India's potential growth rate of 8 %. 8. Concessional 6% interest on loans to weavers. 9. Tax free bonds issue to be allowed up to Rs 50,000 crore in 2013-14 10. Rs 500 crore would be allocated for addressing environmental issues faced by textile industry. 11. Fiscal deficit: i. Fiscal deficit - 5.2 % of GDP in 2012/13. ii. Fiscal deficit - 4.8 % of GDP in 2013/14. iii. Fiscal deficit - 3 % by 2016/17 12. Revenue Deficit: i. Revenue Deficit - 3.9 % 2012-13. ii. Revenue Deficit - 3.3 % 2013-14. iii. Revenue deficit -1.9% by 2016-17. iv. Taxes: Service tax (12%), Custom duty (10%) & Excise duty (12%) remains unchanged. v. Tax benefits in RGESS extended to 3 years: 13. Rajiv Gandhi Equity Savings Scheme (RGESS) 1. The Rajiv Gandhi Equity Savings Scheme (RGESS) will be liberalised to enable first time retail investors to invest in mutual funds and listed shares and not in one year alone, but for three successive years. 2. Under the scheme, an individual with an income of less than Rs 12 lakh would get tax incentives for investing up to Rs 50,000 in the stock market.
3. Also, the limit for investors wanting to invest in RGESS has been raised to Rs 12 lakh from Rs 10 lakh earlier.

continued...........

9. Reserve Bank of India (RBI) asked banks to bring all districts in metropolitan areas under the lead bank scheme (LBS) fold. The lead bank scheme, launched way back in 1969, is an integrated mechanism to extend banking services to the doorsteps of consumers, especially the poor. 10. RBI has extended the date for implementation of Basel III by three months i.e., from 1 Jan to 1 April, 2013. 7. Reserve Bank of India (RBI) signed a Memorandum of Understanding (MoU) with the State Bank of Vietnam (SBV) for promoting greater co-operation and sharing supervisory information, between the two supervisors. 8. According to the RBI directive, Amanath Cooperative Bank can conduct a financial transaction of not more than Rs. 1,000 per account a day. Besides, the bank has been stopped from accepting deposits till further orders 9. In order to promote lending to priority sectors, the Reserve Bank has allowed urban co-operative banks (UCBs) to grant unsecured loans up to 25 % of their assets if certain conditions are met. 10. India and Japan signed a currency swap agreement for up to 15 billion dollars to address short-term liquidity problems. The bilateral swap arrangement (BSA) has been inked between the Reserve Bank of India and the Bank of Japan. 11. RBI said NBFCs operating infrastructure finance companies (IFCs) can now avail themselves of overseas borrowings up to 75 % of their owned funds without its approval. 12. RBI has launched a website explaining ways to detect counterfeit notes. With a tagline 'Pehchano Paise Ki Boli, Kyunki Paisa Bolta Hai'. 13. Former RBI Governor Y V Reddy will be the Chairman of 14th Finance Commission; the 13th Finance Commission was headed by former Finance Secretary Vijay Kelkar. 14. RBI has issued a new series of 50 paisa coins with the rupee symbol and new security features to faciliatate easy recognition. It clarified that 50 paisa coins will remain in use 15. Government has extended the term of the Anand Sinha Deputy Governor of RBI 16. RBI to launch 10 plastic notes in 5 cities – Kochi, Mysore, Jaipur, Bhubhaneshwar and Shimla.
4. Important Points related to Insurance sector:
1. Life Insurance: Life insurance is a contract between the policy owner and the insurer, where the insurer agrees to reimburse the occurrence of the insured individual's death or other event such as terminal illness or critical illness. The insured agrees to pay the cost in terms of insurance premium for the service.
The contract is valid for payment of the insured amount during: i. The date of maturity, or ii. Specified dates at periodic intervals, or iii. Unfortunate death, if it occurs earlier. Major types of insurances are as mentioned below: i. Life insurance ii. Automobile insuranc
iii. Health insurance iv. Credit insurance v. Property insurance Insurance companies can be categorized into two main divisions which are as follows: i. General Insurance Companies: They provide all types of insurance apart from life insurance. ii. Life Insurance Companies: The companies, dealing with life insurance, pension products and annuities are life insurance companies.
2. Regulatory body & authorities of Insurance:
i. Insurance regulatory and development authority (IRDA) is the regulatory body of Insurance sector In India. Chairman of IRDA - TS Vijayan ii. The IRDA was incorporated as a statutory body in April, 2000. iii. The IRDA opened up the market in August 2000 with the invitation for application for registrations. iv. Foreign companies were allowed ownership of up to 26%. v. In December, 2000, the subsidiaries of the General Insurance Corporation of India were restructured as independent companies and at the same time GIC was converted into a national re-insurer. Parliament passed a bill de-linking the four subsidiaries from GIC in July, 2002. vi. At present there are 24 general insurance companies including the ECGC and Agriculture Insurance Corporation of India and 23 life insurance companies operating in the country. vii. The insurance sector is a colossal one and is growing at a speedy rate of 15-20%. Together with banking services, insurance services add about 7% to the country’s GDP.
3. About GIC (General Insurance Corporation of India): GIC is the sole reinsurance company in the Indian insurance market with over three decades of experience. GIC has its registered office and headquarters in Mumbai. Chairman & MD of GIC – A.K. Roy
i. The entire general insurance business in India was nationalised by General Insurance Business (Nationalisation) Act, 1972 (GIBNA). ii. General Insurance Corporation of India (GIC) was formed in pursuance of Section 9(1) of GIBNA. It was incorporated on 22 November 1972 under the Companies Act, 1956 as a private company limited by shares. GIC was formed for the purpose of superintending, controlling and carrying on the business of general insurance. iii. GIC Re has a rating of A- (Excellent) from A. M. Best for its financial strength iv. After a process of mergers among Indian insurance companies, four companies were left as fully owned subsidiary companies of GIC which are mention below: 1. National Insurance Company Limited (NICL): is one of the largest and fastest growing general insurance companies in India. The company headquartered at Kolkata was established in 1906, and nationalized in 1972. i. After nationalisation in 1972, NICL operated as a subsidiary of General Insurance Corporation of India (GIC). Chairman of NICL – Shri NSR Chandraprasad ii. NICL was spun off as a distinct company under the General Insurance Business (Nationalisation) Amendment Act in 2002.

Monday, July 29, 2013

banking and finanace

RBI’s Guidelines for New Bank Licenses: i. Bank should have 49% cap on foreign holding in new banks and minimum paid-up equity capital is Rs 500 crore. ii. New banks will have to set up 25% of its branches in unbanked rural areas. iii. Existing NBFCs, if considered eligible, may be permitted to promote new banks or convert themselves into banks. iv. The paid-up equity capital should be Rs 500crore and they will have to get listed within three years of operations. v. The Reserve Bank of India has issued a new series of 50 paisa coins with the rupee symbol and new security features to facilitate easy recognition. 3. Important Points related to RBI:
1. RBI Sign first Currency Swap Agreement with Royal Monetary Authority of Bhutan valid for a period of 3 years, according to this the Royal Monetary Authority of Bhutan can draw US Dollar, Euro or Indian Rupee in multiple tranches up to a maximum of 100 million US dollars or its equivalent. 2. RBI issued a guide lines that all the cheques should be cleared in 2 days. 3. RBI fines three banks: The Reserve Bank imposed a fine of Rs 5 crore on Axis Bank, Rs 4.5 crore on HDFC Bank and Rs. 1 crore on ICICI Bank for violation of Know Your Customer KYC norms and anti-money laundering guidelines after inquiring into charges leveled by a online portal Cobrapost. 4. RBI guidelines under Scheme A i. Under this scheme, RBI gives the approval in case a company establishes a minimum of 1000 ATMs in first year, twice the number of first year in second year as well as thrice the second year’s installation in third year. ii. According to RBI guidelines, under Scheme ‘A’, for every three WLAs (White Level Atms) installed in tier-III to VI centres, one can be installed in tier-I to II centres. Of the total WLAs installed in tiers-III to VI centres, a minimum of 10 per cent should be installed in tier-V & VI centres. Till recently, only banks were permitted to set up ATMs as extended delivery channels. RBI then permitted non-bank entities to set up, own and operate WLAs for expanding reach in tiers-III to VI. NOTE: i. Muthoot Finance to Establish White Label ATMs: Muthoot Finance got in-principal approval from the Reserve Bank of India (RBI) for establishing as well as operating White Label ATMs (WLAs). ii. The White Label ATMs (WLAs) are the ones which are not owned and operated by the bank but by another non-bank entity
iii. According to this scheme, Muthoot Finance will establish 1000 ATMs in first year, 2000 in second year and 6000 in third year total 9000 ATMs. 5. RBI has allowed RRBs to open branches in Tier-II cities (Population -50,000 to 99,999 as per 2001 census) without taking its permission 5. RBI hiked the investment limit in government securities by FIIs and long-term investors $25 billion from $20 billion and in corporate bonds $50 billion from $45 billion 6. Reserve Bank of India (RBI) panel mooted ‘India Bill Payment System’ (IBPS), a GIRO-based electronic bill payment system (GIRO Government Internal Revenue Order) for payment of dues of essential services, insurance premia, utility payments, taxes, university fees, examination fees and school fees. 7. The Reserve Bank of India (RBI) imposed restrictions on banks to import gold with immediate effect to curb the widening current account deficit (CAD). 8. RBI will launch Inflation Indexed Bonds (IIBs) each month with a maturity period of 10 years from 4 June to wean away investors from gold to paper-based savings instruments

Thursday, July 4, 2013

science and technology updates


SCIENCE & TECHNOLOGY
Canadian Scientists Created Artificial Brain : Software engineers as well as neuroscientists at University of Waterloo, Canada
claimed that they have developed a closest model of the functioning human brain, known as Spaun which is advanced enough for
passing the basic IQ tests. This is the virtual brain which functions on the supercomputer and comprises of a digital eye, which can
be used for visual input. It also has the robotic arm which can be used for drawing the response.
Voyager 1 Drifts Into Unknown Region of Space : NASA’s Voyager 1 spacecraft has discovered a new layer of the solar system
that scientists hadn’t known was there, researchers announced on 4 December 2012. Voyager 1, in particular, has entered a new
region of the heliosphere that scientists are calling a “magnetic highway,” which allows charged particles from inside the
heliosphere to flow outward, and particles from the galaxy outside to come in.
New Anti-HIV Gel for HIV Transmission : Researchers led by Dereuddre-Bosquet from the European Combined Highly Active
Anti-Retroviral Microbicides (CHAARM) Consortium describe the gel’s key ingredient, which are small peptides engineered to present
a decoy to bind up the virus and prevent it from entering and infecting the body cells. Because this is a gel it can be topically
applied and could represent a powerful preventative agent against sexual transmission of HIV. Bosquet and colleagues engineered
peptides named ‘miniCD4s’ because they mimic the CD4 receptor used by HIV to gain entry into immune cells of the body.
NASA to Send New Rover to Mars in 2020 : NASA was announced plans to send a new robotic explorer to the the Red Planet,
Mars in 2020.
7 Planets Discovered In The Milky Way : New York Scientists have been discovered Seven planets in the Milky Way outside our
solar system that could potentially harbour life and researchers from an ambitious project to catalogue all habitable worlds claim.
Russia Delivered MiG-29 Fighter Jets to India : Russia on 10 December 2012 delivered the first three upgraded MiG-29UPG
fighter jets to India under a USD 900 million contract to modernise the ageing fleet of MiG-29 aircraft with the IAF.
Tata Group Developed new “Artillery Gun” : On 11 December In a step towards developing the indigenous private sector
defence industry, the Tata group has created a new Artillery Gun. The 155mm 52 calibre gun developed by the Tata group is likely
to have a strike range of 52 kms, which would probably be the longest in the Indian inventory.

India Successfully Test Fired Agni-I Ballistic Missile : India on 12 December 2012 successfully test-fired its indigenously
developed nuclear capable Agni-I ballistic missile with a strike range of 700 km from a test range off Odisha coast. Weighing 12
tonnes, the 15-metre-long Agni-I, which is capable of carrying payloads up to 1000 kg and destroy the targets at a distance of
700 km.
North Korea Launched Unha-3 Rocket : On 12 December North Korea launched a long-range rocket Unha-3 despite
international opposition and growing tensions in the region successfully delivering a scientific satellite Kwangmyongsong-3 into
orbit.Unha-3 is the second version of satellite Kwangmyongsong-3 which is successfully lifted off from the Sohae Space Center by
carrier rocket.The US and its allies view the launch as a disguised test of ballistic missile technology.
NASA’s Twin Probes Crashed Successfully onto Lunar Mountain : Ebb and Flow, the gravity mapping satellites of NASA
ended the successful mission to Moon by crashing on the rim of crater. Lunar surface on which Ebb and Flow crashed will be given a
name after Sally Ride, the first woman of America in the space who died earlier in 2012.
Rocket with 3 Astronauts Takes off for ISS : A Soyuz spacecraft carrying three astronauts took off atop a towering Russian
rocket on 19 December 2012, headed for the International Space Station.It launched from Russia’s manned-space facility in the
frigid steppes of Kazakhstan. American Tom Marshburn, Russian Roman Romanenko and Canadian Chris Hadfield are travelled in
capsule.
Prithvi-II Flight- Tested Successfully : The Strategic Forces Command (SFC) successfully flight-tested nuclear weaponscapable
Prithvi-II missile from Chandipur, off the Odisha coast on 20 December 2012. The surface-to-surface ballistic missile, was
fired from a road mobile launcher and tested for its full range of 350 km.The single-stage, liquid propelled missile can carry a
payload of 500 kg.
Astra Missile Successfully Test-fired : India on December 2012 test launched its indigenously developed beyond visual range
(BVR) air-to-air interceptor missile Astra at the interim test range(ITR) at Chandipur in Odisha.Astra which has the capability to
intercept and destroy enemy aircraft at a supersonic speed can be fitted into any fighter aircraft. Considered as one of the best of
its kind in the world, the 3.8 metre long missile which weighs about 160 kg can carry explosive loaded conventional warheads up to
15 kg.
Scientists Discovered Mini Nile River on Saturn’s Moon Titan : Nasa scientists had spotted the longest extraterrestrial river
system ever – on Saturn’s moon Titan – and it appears to be a miniature version of Earth’s Nile river.
Higgs Boson ‘ Tops Journal Science’s 2012 List : The discovery of the Higgs Boson, an invisible particle that explains the
mystery of mass, leads a list of the top 10 scientific advances of 2012 released by the US journal Science on 22 December .
America Launched Reusable Rockets : US California based SpaceX’s industry successfully launched ‘Grasshopper’ reusable
rockets.The rocket took a giant leap for commercial space flight and when it rose 131 feet and landed safely back on Earth.
Grasshopper rocket rose to a height of 131 feet around ten storeys and hovered before landing safely on its launch pad using
closed loop thrust vector and throttle control.
Hot Spots For World’s more Powerful Earthquakes Revealed : The locations of where the world’s largest earthquakes are
most likely to take place had pinpointed with greater accuracy than ever before, by researchers from the University of Sydney.The
coasts of Southern Chile and Peru, Indonesia’s Sumatra Island, and several regions along the eastern Eurasian coastline, are some
of the regions prone to great earthquakes.
US approved First new Tuberculosis Drug : On 1 January The US Food and Drug administration approved a Johnson & Johnson
tuberculosis drug in 40 years .This is the first new medicine to fight the deadly infection in more than four decades.The disease is
rare in the US, but kills about 1.4 million people a year worldwide.
Spiral galaxy IC 2233 : Astronomers had captured one of the flattest galaxies known in the universe, sitting like a silver needle in
the haystack of space. The NASA/ESA Hubble Space Telescope produced a beautiful image of the spiral galaxy IC 2233, one of the
flattest galaxies. The IC 2233 is located about 40 million light-years away from Earth. This galaxy was earlier discovered by British
astronomer Isaac Roberts in 1894.
“Immune system ‘booster’ may hit cancer” : Japanese research where stem cells were used to clone and produce large
numbers of a specialized type of white blood cell. These cells, known as cytotoxic T lymphocytes (CTLs), are produced by the
immune system and are able to recognize specific markers on the surface of various tumour cells, causing them to launch an attack
to kill the tumour cells.The researchers are succeeded in using stem cells to “mass-produce” CTLs in laboratory conditions.
Chinese Biologists Discovered Antibiotic In Panda Blood : Chinese biologists have discovered that the blood of the
endangered giant panda includes a compound called ” Cathelicidin-AM ” which acts as a natural antibiotic. The nature of the blood
compound makes it an attractive treatment for so-called superbugs, those strains of disease that have become immune or resistant
to traditional antibiotics.
India to make world’s largest solar telescope : India is likely to begin construction of the world’s largest solar telescope on the
foothills of the Himalayas in Ladakh to understand the fundamental processes taking place on the Sun by year-end.A 2-metre class,state-of-the-art National Large Solar Telescope (NLST), built by Bangalore-based Indian Institute of Astrophysics (IIA), will permit
Indian scientists to carry out cutting edge research aimed to study Sun’s atmosphere.
Internet emits 830 mt of carbon dioxide annually : According to Researchers from the Centre for Energy-Efficient
Telecommunications (CEET) and Bell Labs, Internet and other components of information communication and technology (ICT)
industry annually produces more than 830 million tonnes of carbon dioxide (CO2), the main greenhouse gas, and is expected to
double by 2020
‘Lakshya’ Missile Successfully Tested : India’s indigenously developed, ‘Lakshya’ was sucessfully tested on 7 January .It was
launched from the Integrated Test Range – ITR, at Odisha .25 meters in length, 100 km away from the target to the missile .
17 billion’ Earth-sized planets in Milky Way : The Milky Way contains at least 17 billion planets the size of Earth.Astronomers
using NASA’s Kepler spacecraft found that about 17 percent of stars in our galaxy have a planet about the size of Earth in a close
orbit.The Milky Way is known to host about 100 billion stars, meaning that about one of every six has an Earth-sized planet around
it.
Brahmos cruise missile test fired in successfully : Supersonic cruise missile BrahMos scored once again in its 34th launch on
09 January 2013 off Visakhapatnam in the Bay of Bengal, hitting a decommissioned vessel with accuracy.As it took off vertically
from a naval warship, reached an altitude of 14 km, levelled out and started cruising at three times the speed of sound, it
performed “a double manoeuvre in S-form” and hit the decommissioned ship, about 290 km away.
Astronomers Found ” NGC 6872 ” Largest known Spiral Galaxy : A team of astronomers from the United States, Chile and
Brazil has crowned it the largest-known spiral galaxy, a spectacular behemoth five times bigger than our own Milky Way, based on
archival data from NASA’s Galaxy Evolution Explorer (GALEX) mission.The title-holder is now NGC 6872, a barred spiral found 212
million light-years away in the southern constellation Pavo. The distance between NGC 6872′s two huge spiral arms is 522,000
light-years, compared to about 100,000 light-years for the Milky Way.
Indian Scientists Discovered Molecule for Cancer Treatment : A team of Indian researchers, led by Dr Sathees C Raghavan
of the Indian Institute of Science at Bangalore, have identified a molecule which they claim will revolutionise the cure for
cancer.The molecule has been named after “Sathees as SCR7” and a detailed account of it has been carried in the international
scientific journal “Cell”".Scientists world over believe that the double strand break (DSB) of DNA is one of the most lethal form of
DNA damage, resulting in drastic consequences such as genome instability, and cancer.
“Largest Space structure in the Universe:Large Quasar Group : An international team lead by astronomer Roger Clowes of
the University of Central Lancashire in England discovered the largest known structure in the universe, a clump of active galactic
cores that stretches 4 billion light-years from end to end.This is the largest Space structure in the Universe.This structure is known
as a “Large Quasar Group(LQG)”.
Indian Scientists Discovered Molecule for Cancer Treatment : A team of Indian researchers, led by Dr Sathees C Raghavan
of the Indian Institute of Science at Bangalore, have identified a molecule which they claim will revolutionise the cure for
cancer.The molecule has been named after “Sathees as SCR7” and a detailed account of it has been carried in the international
scientific journal “Cell”".Scientists world over believe that the double strand break (DSB) of DNA is one of the most lethal form of
DNA damage, resulting in drastic consequences such as genome instability, and cancer.
World’s First Global Renewable Energy Atlas Launched : On 13 January Abu Dhabi-based International Renewable Energy
Agency (IRENA) launched the world’s first clean energy atlas at IRENA’S General Assembly , currently offers open-access
information on solar and wind power throughout the world and the creators plan to expand to other renewable energy resources
over the next two years.The atlas includes information on clean energy resources in 37 countries, including those which have no
diplomatic relations with the United Arab Emirates.The International Renewable Energy Agency (IRENA) is working in partnership
with the Renewable Energy Policy Network for the 21st Century (REN21) to build a qualitative and quantitative data framework for
renewable energy in developing countries.
Ancient River Found on Mars : On 17 January The European Space Agency scientists have revealed a 1500 km long and 7
kilometre wide river that once ran across Mars.The images which were captured by the ESA’s Mars Express showed Reull Vallis, the
river-like structure, which is believed to have formed when water ran from the surface of Mars in distant past. The structure which
surprised the astronomers stretches for around 900 miles or 1500 km across the Martian surface and also shows various tributaries.
These structures, it is believed, were formed somewhere around 3.5 billion years ago.
India Increased Rafale Fighter Jets’ Order : India could buy up to 189 of the Rafale fighter jets currently being used by France
to bomb Islamist militants in Mali, sources close to negotiations on the multi-billion dollar deal .The possibility of an additional 63
jets being added to an expected order for 126 was raised by India .The Indian press has estimated the value of the deal for 126
Rafales at $12 billion (nine billion euros).A 50 per cent increase in the number of planes ordered would take it to around $18 billion,
in a huge boost for the French defence industry.
‘Japan to replace Fukushima plant with world’s largest wind farm’ : In the wake of the 2011 Fukushima nuclear disaster,
Japan had decided to build the world’s largest offshore wind farm to replace the crippled nuke plant.The country plans to build a
total of 143 wind turbines on platforms 16 kilometres off the coast of Fukushima by 2020, which is home to the stricken Daiichi
nuclear reactor that hit the headlines in March 2011 when it was damaged by a severe earthquake and tsunami.The wind farm willgenerate 1 gigawatt of power once completed, and is part of a national plan to increase renewable energy resources following the
post-tsunami shutdown of the country’s 54 nuclear reactors.The wind farm will surpass the 504 megawatts generated by the 140
turbines at the Greater Gabbard farm off the coast of Suffolk, UK – currently the world’s largest farm.
India, US finalise Rs 3,000 crore deal for jet engines : India and the US have finalised a Rs 3000-crore deal for supplying 99
jet engines to be used in the indigenous Light Combat Aircraft ‘Tejas’ being developed by the DRDO.Around two years ago, India
had selected the American company General Electric over its rival European Eurojet 2000 for the LCA Mark II programme expected
to be ready around 2014-15.The deal worth Rs 3,000 crore has been finalised with the US for procuring 99 engines for the LCA
Tejas MkII.As per the contract, the order could be for 99 engines initially but India will have the option of ordering another 100
engines in the future.
INS Saryu Inducted into Indian Navy : On 21 January Air Marshal PK Roy, Commander-in-Chief, Andaman and Nicobar
Command, commissioned INS Saryu into the Indian Navy at Goa .INS Saryu is the lead ship of the indigenous Naval Offshore Patrol
Vessel (NOPV) Project designed and built by Goa Shipyard Limited, the ship aptly demonstrates the immense potential of the
country’s indigenous designing and ship building capabilities.Capable of carrying a helicopter (ALH) onboard, the ship’s weapon and
sensor outfit includes a SRGM 76.2 mm gun with an electro-optic fire control system, two 30mm guns as close in weapon systems,
latest navigational and early warning radars, chaff launchers for self protection and an integrated ESM system to undertake all
assigned missions.
MIT researchers Created Moisture – Powered Polymer : MIT ( Massachusetts Institute of Technology ) researchers have
created a new polymer film that can generate electricity by drawing on a ubiquitous source: water vapor.The new material changes
its shape after absorbing tiny amounts of evaporated water, allowing it to repeatedly curl up and down. Harnessing this continuous
motion could drive robotic limbs or generate enough electricity to power micro- and nanoelectronic devices, such as environmental
sensors.
India Sucessfully Test Fired K-5 Ballistic Missile : On 27 January India successfully test fired medium range K-5 ballistic
missile ,with a strike range of around 1500 kilometres, from an underwater platform in Bay of Bengal.K-5 is part of the family of
underwater missiles being developed by Defence Research and Development Organization (DRDO) for the Indian strategic forces’
underwater platforms.
Iran ‘successfully sent monkey into space’ : Iran on 28 January 2013 announced that it had successfully send a monkey to the
space.It also declared that the monkey come back to the Earth successfully.The rocket called Pishgam (meaning Pioneer) reached
at a height of 120 km (75 miles) for a sub-orbital flight before “returning its shipment intact”. The first country to launch the
primate into space was US.
Iran launches new fighter jet : Iran had unveiled a new home-made combat aircraft on 02 February 2013.Iran announced that
this is the most Sophisticated aircraft in the world.The name of this aircraft was Qaher F313 (Dominant F313).Qaher F313 was
designed using the Advanced Electro-Aviation System.
World’s Largest Prime Number Discovered with 17,425,170 digits : Researchers from the University of Central Missouri in
Warrensburg discovered the largest prime number of the world, Contains 17 Million Digits. This is the 48th Mersenne prime found
so far. However there are certain rare kinds of prime numbers called Mersenne primes which have the form 2 multiplied by itself p
times minus 1, where p denotes a prime number. The new largest prime is 2 multiplied by itself 57885161 times minus 1.
First Complete Bionic Man Unveiled in U.K : On 7 February The world’s first complete ‘Bionic Man’ named “ Rex ” was unveiled
at London’s Science Museum. The bionic man was created using 1 million US dollar limbs as well as organs.Rex has a human face
with brown eyes and a height of 6.5 feet. It was designed jointly with assistance from 18 universities and companies.
Rudra Inducted into the Army : On 8 February The first indigenously built Weapon System Integrated Advanced Light
Helicopter, “Rudra” was handed over to the Indian Army by the Hindustan Aeronautics Limited (HAL) .Rudra is the Mk-IV variant of
the Advanced Light Helicopter designed and manufactured by HAL. The helicopter is fitted with weapons, targeting systems,
warning and counter-measure systems and survivability features.This is the first of the 60 armed helicopters provided to the army
by the Hindustan Aeronautics Limited (HAL) after the Defence Ministry handed over the control of all attack helicopters to the land
force.
Indian Coast Guard Ship ‘Rajratan’ Commissioned : On 11 February Indian Coast Guard ship “ Rajratan “ , the fifth in a series
of eight Inshore Patrol Vessels (IPVs), was commissioned by Indian Coast Guard.The vessel has been indigenously built by Garden
Reach Shipbuilders and Engineers, Kolkata.The 50m long IPV can achieve a maximum speed of 34 knots, with an endurance of
1,500 nautical miles at an economical speed of 16 knots.
North Korea conducted third nuclear test : On 12 February 2013,North Korea “successfully” conducted a third underground
nuclear test with the violation of United Nations sanctions.In the past North Korea two times conducted nuclear tests but this is
most powerful than those tests.North Korea announced that,a miniaturised nuclear device had been detonated successfully at the
test site.The test was reported to have taken place at a test site in the North Hamgyeong province, where the Punggye-ri nuclear
complex that conducted tests in 2006 and 2009 is located.
Asteroid “ 2012 DA14 “ Passed Very Near To Earth : The small Asteroid named “ 2012 DA14 “ with an estimated diameter ofFebruary 15.During its 2013 close passage, the asteroid passed 27,700 km (17,200 mi) from the surface of Earth. Scientists at
NASA estimated that an asteroid the size of 2012 DA14 flies this close to Earth about once every 40 years. A 2012 DA14-size
asteroid impacts Earth once every 1,200 years, on average.
PSLV-C20 Successfully Launched ‘SARAL’ and 6 Other Satellites : On 25 February ISRO’s Polar Satellite Launch Vehicle
(PSLV) from the Satish Dawan Space centre at SPSR Nellore in Sriharikota , launched the Indo-French satellite “SARAL” along with
six commercial payloads from Austria, Britain, Canada and Denmark into a 785-km polar sunsynchronous orbit.It was the 23rd
mission of PSLV, which has an impeccable record of 21 consecutive successful flights. : About SARAL:- – The Saral mission results
from the common interest of both ISRO and CNES in studying the ocean from space. For instance, it can provide information on
seasonal forecasting, study on animal migration, locating ‘buoys’ and fishing vessels, collecting environmental data such as ocean
temperature profiles and currents.
Besides Saral, the PSLV-C20 has put into orbit two micro-satellites UniBRITE and BRITE (both from Austria), AAUSAT3 from
Denmark and STRaND from UK. It also carried one micro-satellite (NEOSSat) and one mini-satellite (SAPPHIRE) from Canada.With
a lift-off mass of 407 kg, Saral is the 56th satellite to be launched by PSLV.The six commercial payloads from abroad together have
a lift-off mass of 259.5 km.PSLV-C20 is the ninth PSLV in ‘core alone’ configuration (without solid strap-on motors).
Spinning Black Hole Observed for the First Time : The Spinning black holes are first identified by Paranal Observatory
astronomers in Chile.The enormous black hole at the center of the spiral galaxy NGC 1365 is spinning about 84 percent as fast as
Einstein’s general theory of relativity allows it to, researchers determined. NGC 1365, located about 56 million light-years from
Earth.
Pinaka’ Rockets Successfully Test-Fired : On 1 March Indigenously developed ‘Pinaka’ rockets were successfully test-fired by
Indian army from a multi-barrel rocket launcher (MBRL) by an armament establishment from a base at Chandipur-on-sea, about 15
km from Balasore.’’Pinaka’ is an area weapon system with a range of 40 km.’Pinaka’ system can fire a salvo of 12 rockets in 44
seconds ,adding that the battery of six launchers can neutralise at a time a target area of 3.9 sq km.
Large Meteorite Found in Antarctica : On 1 March the international group of researchers has discovered the18-kg meteorite in
eastern Antarctica, the largest found in that area in 25 years.
Astronomer Measured Exact Distance to Our Closest Neighbouring Galaxy : On 7 March Astronomers have for the first time
accurately measured the distance to one of the Milky Way’s neighbouring galaxy and it is just 163,000 light-years away.
Japan Pioneers Gas Extraction From Seafloor Methane Hydrate : On 12 March Japan has become the first country in the
world to extract natural gas from frozen methane hydrate successfully off the central coast. According to the Japanese study, it was
estimated that around 1.1tn cubic metres of methane hydrate existed in the offshore deposits. This is equal to the gas consumption
of Japan in more than 10 years.
World’s Largest Telescope Inaugurated in Chile : On 13 March The world’s largest radio telescope has been inaugurated in
Chile on a mountain high above the Atacama Desert, wielding unprecedented power to peer into the remotest regions of the
universe.The ceremony attended by President Sebastian Pinera and other dignitaries.The ALMA space observatory consists of 66
antennae creating a telescope array 16 kilometres in diameter.
UAE Inaugurated World’s Largest CSP Solar Power Plant : On 17 March United Arab Emirates (UAE) President Sheikh Khalifa
Bin Zayed Al-Nahyan inaugurated the 100-megawatt solar plant “Shams 1 “ in the desert of Abu Dhabi,the world’s largest
concentrated solar power plant in operation.Covering an area of 2.5 square km, the 600-million-U.S. dollars project incorporates
the latest in parabolic trough technology and features more than 258,000 mirrors mounted on 768 tracking parabolic trough
collectors, capable of delivering green electricity to 20,000 homes.
India Successfully Test Fired World’s First Underwater Supersonic Cruise Missile : On 20 March India has successfully test
fired its submarine-launched version of BrahMos supersonic cruise missile of the over 290 km-range in the Bay of Bengal off the
coast of the southern port city of Visakhapatnam (Andhra Pradesh).The launch of Missile is counted as the first test-firing of an
underwater supersonic cruise missile anywhere in the world. The missile travelled its complete range of over 290 km.
Big Bang Radiation Map Unveiled : On 21 March The European Space Agency (ESA) has unveiled the most detailed map yet of
relic radiation from the Big Bang,revealing new data it hopes will shed light on the creation and expansion of our Universe.The map
results suggest the universe is expanding more slowly than scientists thought, and is 13.8 billion years old, 100 million years older
than previous estimates.
India and US Agreed for Future Cooperation in Moon and Mars Missions : On 23 March India and the US agreed for
cooperation on future missions to the Moon and Mars after successful collaboration in Chandrayaan-1 lunar mission. The highly
successful Chandrayaan-1 lunar mission which was launched by the Indian Space Research Organisation (ISRO) in October 2008
led to strong evidence of the presence of lunar water.
Crew Reaches Space Station in Less than 6 Hours : On 29 March An astronaut from the U. S.with three Russian cosmonauts
took a short cut to reach space station and saved around 45 hours of journey. The crew took only 5 hours and 45 minutes to reach
the space station from the Baikonur Cosmodrome, Kazakhstan.This is for the first time that any crew has used this express route toreach space station in the minimum possible time.Three members on this Russian Soyuz are Chris Cassidy from NASA, Alexander
Misurkin and Pavel Vinogradov from Russia.
NTPC Commissioned New Solar Power Project in Andaman & Nicobar : On March 30,NTPC Ltd has commissioned a 5-MW
solar photo-voltaic power project at Port Blair in Andaman & Nicobar Islands.It is the first grid-connected solar photo-voltaic project
in these islands and also the first greenfield renewable solar PV project of NTPC.
New Indian Ship ‘ASWC Kiltan’ Launched in Kolkata : INS Kiltan is an anti-submarine warfare corvette of the Indian Navy
built under Project-28. It is the third of four Kamorta class corvettes under various stages of induction with the Indian Navy. The
ship was built by the Garden Reach Shipbuilders and Engineers, Kolkata and launched on 26 March.The ship takes its name from
the Kiltan island, a coral island that is part of India’s archipelagic Union Territory of Lakshadweep.The Kiltan is to be armed with a
range of indigenously developed cutting edge weapons and sensors including a medium range gun, torpedo tube launchers, rocket
launchers and a close-in weapon system.
Cicada’s Insect Wing’s Kills Bacteria : Human eye cells have been grown on cicadas’ wings after it was found that the wings’
surface kills bacteria and boosts cell growth.Dr Greg Watson, a researcher at James Cook University in Cairns, began looking more
closely at cicadas after noticing, while out on a walk more than a decade ago, that their wings took much longer to decompose than
their bodies.It is the first time scientists have found that tiny features found on a natural surface, rather than chemicals, kill
bacteria.
Supreme Court of India Rejected Novartis’ Patent Plea for Cancer Drug Called Glivec : The Supreme Court of India on 1
April 2013 rejected the plea of Novartis, the Swiss drug maker, to patent the updated version of cancer drug called Glivec. A bench
of justices Aftab Alam and Ranjana Prakash Desai dismissed the patent plea to Novartis on the basis that there was no
inventiveness or novelty in the new version of the drug. In its ruling, the Supreme Court of India declared that because the
application for patent on beta-crystalline salt did not meet any inventiveness or novelty standard, therefore the company’s plea for
patent was dismissed.
World’s first solar plane to fly across US : A first of its kind ultra-lightweight plane powered completely by the sun is set to fly
coast-to-coast this spring.The Solar Impulse plane will stop in Dallas city in Texas during its historic cross-country journey that
begins on May 1.The plane, which requires zero fuel and relies solely on solar panels and battery power, would be the world’s first
plane powered purely by solar energy.
Obama Announced $100 Million “Brain Initiative” Project : On 2 April US President Barack Obama has announced the “BRAIN
Initiative” a $100 million brain-mapping project.The BRAIN initiative will attempt to find ways to treat Alzheimer’s disease and
strokes while also aiding in job growth.
Carbon aerogel world’s lightest material : Chinese scientists have developed the world’s lightest substance — carbon aerogel
— with a density only one sixth of that of the air.Scientists at Zhejiang University produced the solid material which has a density of
only 0.16 mg/cubic centimetre, breaking the previous record of the world’s lightest material held by graphite aerogel.The graphite
aerogel was developed by German scientists last year with a density of 0.18 mg/cubic centimetre.
Alpha Magnetic Spectrometer Detected Evidence of Dark Matter : On 3 April NASA scientists announced the Alpha Magnetic
Spectrometer (AMS) placed on the International Space Station (ISS) may have detected the elusive dark matter. The scientists
made the announcement after they observed an excess of positrons in the Cosmic Ray Flux, which can be the reason of the
presence of elusive dark matter.
100 billion Earth-like planets in our galaxy : Scientists have proposed a new method for finding Earth-like planets in our Milky
Way galaxy and they anticipate that their number may be up to a whopping 100 billion.The strategy devised by researchers at The
University of Auckland uses a technique called gravitational microlensing, currently used by a Japan-New Zealand collaboration
called MOA (Microlensing Observations in Astrophysics) at New Zealand’s Mt John Observatory.
German Shipyard Launches World’s Largest Private Yacht : On 5 April A German shipyard has launched “”Azzam”" , the
world’s largest private yacht at 590-feet long, which also happens to be among the fastest vessels, costing a whopping USD 609
million.The luxury private vessel ‘Azzam’ – with a beam 68-feet high – overshadows previous longest superyacht, The Eclipse, by
57-feet. Designed by Nauta Yachts in Italy and constructed by German company Lurssen Yachts, Azzam is almost two football
fields long and rivals the size of some cruise ships.It took four years to complete the superyacht from concept to construction.With
94,000 horsepower generated from two gas turbines and two diesel engines, the Azzam can reach speeds of over 55.5kph, which
makes it one of the fastest yachts in the world.
New Camera System That Can Captured Images From 1 km Away : In the month of April the team of researchers from
Heriot-Watt University in Edinburgh , developed a New Laser powered Camera System that can take image of any object from a
distance of about one kilometer by creating high-resolution 3D images.The technique on which the camera is based is called ‘Timeof-
Flight (ToF)’ navigation systems for autonomous vehicles. In this principle of photography, to capture the image of the far away
object, a laser beam is bounced on the object and measure the time that is taken by the beam of light to be back to the detector.
India test-fires nuclear capable Agni-II missile : The medium-range, nuclear capable Agni-II missile was successfully testfired
with a strike range of more than 2,000 kms from the Wheeler Island off Odisha coast on 07 April 2013.The trial of the surfaceto-
surface missile was conducted from a mobile launcher from the Launch Complex-4 of Integrated Test Range (ITR).The 20-metrelong Agni-II is a two-stage, solid-propelled ballistic missile. It has a launch weight of 17 tonnes and can carry a payload of 1,000
kgs over a distance of 2,000 kms.The state-of-the-art Agni-II missile was developed by Advanced Systems Laboratory (ASL) and
integrated by the Bharat Dynamics Limited (BDL) in Hyderabad.Agni-II is part of the Agni series of missiles developed by DRDO
which includes Agni-I with a 700 km range, Agni-III with a 3,000 km range, Agni-IV with 4,000 km range and Agni-V with a more
than 5,000 km range.
NASA Approved “TESS” Project : NASA has approved a The Transiting Exoplanet Survey Satellite (TESS), a $200 million mission
to search for Earth-size planets orbiting the nearby stars.Led by the Massachusetts Institute of Technology with seed funding from
Google, TESS was one of 11 proposals selected for NASA funding in September 2011, down from the original 22 submitted in
February of that year.TESS, along with the Neutron star Interior Composition ExploreR (NICER), had been selected for launch in
2017.
The project will come into full swing within the next four years.
Pakistan Tests Nuclear-Capable Hatf-IV Missile : Pakistan successfully test-fired the nuclear-capable Hatf-IV ballistic missile
on 10 April 2013. The missile has a range of 900 km and it can also hit targets in India. Hatf- IV ballistic missile is also called
Shaheen-1.
Indian Astronomer Discovered Blue Super-Giant Star : An Indian scientist Dr. duo Ananda Hota and his Taiwanese colleague
Dr. Youichi Ohyama have discovered a blue super-giant star located in the constellation Virgo, far beyond our Milky Way Galaxy.
Over 55 million years ago, the star emerged in an extremely wild environment, surrounded by intensely hot plasma (a million
degrees centigrade) and amidst raging cyclone winds blowing at four million kilometres per hour.This star is in small IC 3418 Milky
Way Galaxy and it is about 5.5 billion light-years away from Earth.
Astronomers find most Earth-like planets yet : NASA scientists announced on 19 April 2013 that they discovered two earths
like plants which are 1200 light years far from earth. NASA discovered the five plants which are rotating around Kepler 62 star
using the Kepler Space Telescope. Two of the five planets orbiting a sun-like star called Kepler-62 are squarely in what
astronomers call the habitable zone — not too hot, not too cold and possibly bearing water. These two plants are named as a
Kepler-63e and Kepler 62f.
China Tested Self Developed Biofuel Flight : On 24 April China successfully conducted a first test flight powered by selfdeveloped
biofuel made mainly from palm oil and recycled cooking oil.An Airbus A320 operated by China Eastern Airlines landed at
Shanghai Hongqiao International Airport ,after completing an 85-minute journey using aviation biofuel produced by Sinopec, the
country’s top oil refiner.The success made China the fourth country after the United States, France and Finland to boast
independent production of bio-jet-fue
50 meters (160 ft) and an estimated mass of 190,000 metric tons passed within about 3.5 Earth radii of the Earth’s surface on

Monday, July 1, 2013

economy


ECONOMY
The ADB cut India’s Growth Forecast to 5.4 percent : The Asian Development Bank (ADB) cut India’s growth forecast to 5.4
per cent in 2012-13 fiscal, barely two months after it had made a projection of 5.6 per cent growth for the Asia’s third largest
economy. India’s growth forecast is revised from 5.6 per cent to 5.4 per cent in fiscal year 2012 and from 6.7 per cent to 6.5 per
cent in FY 2013.
Rich Gulf Families Own Wealth Worth USD 1.2 Trillion : According to the ‘KFH-Research’ report said one million wealthy
families in the Gulf Cooperation Council (GCC) countries own investment assets worth about USD 1.2 trillion.The report about
wealth and funds management said that the world’s population of high net worth individuals (HNWIs) grew by a marginal 0.8 per
cent year on year to 11 million in 2011.
India Economy Would Dominate the Economy of the World by 2030 : US intelligence counsel was released report on 10
December 2012 declared that India would straddle international commerce and will also dominate the economy of the whole world
by 2030.
IOC Retains Top in Fortune 500 India List : Government owned Indian Oil Corporation (IOC) is ranked as the largest company
in terms of revenue, the Fortune 500 list of Indian companies for 2012 . In this list Indian Oil Corporation got the first place with a
full-year revenue of Rs 4,202 billion, Reliance Industries Limited got the second place with a full-year revenue of Rs 3,675 billion
and Bharat Petroleum Corporation got the third place with a full -year revenue of Rs 2,148 billion
India’s Lost $123 bn in Black Money : According to the report of ‘Illicit Financial Flows from Developing Countries: 2001—
2010,’ released by Global Financial Integrity (GFI) India lost $123 billion in black money during 2001-2010. However India’s loss is
far less than that of China, which according to the report suffered a loss of $ 2.74 trillion during the same period (2001 to 2010).
India is the eighth largest victim of black money loses.
India Lags Several Nations in Per Capita Income : India is lagging behind several countries in per capita income due to
different levels of development and various other factors, the central government was informed on 19 December. India’s per capita
GDP on Purchasing Power Parity (PPP) basis was $3,403 in 2010 and is estimated at $3,662.69 in 2011 and $3,851.31 in 2012.
Philippines introduced ‘sin tax’ : A “sin tax” on cigarettes and alcohol was introduced in the Philippines on 01 January 2013, as
part of a government bid to boost finances.Many stores started selling tobacco and drink at inflated prices before midnight , ahead
of the official implementation of the tax hikes on January 01, hitting partygoers in the pocket.Tax on cigarettes will gradually be
raised to 30 pesos ($0.72) per pack by 2017, roughly doubling the current price to around 52 pesos.Duty on alcohol will also
increase gradually until 2017, increasing the price of a bottle of beer by 23.50 pesos, with varying levels for other drinks including
wine and spirits.
LIC Launched New Jeewan Nidhi & Flexi Plus Policies : The Life Insurance Corporation (LIC) of India launched two new
Insurence policies New Jeevan Nidhi, a pension scheme, and Flexi Plus on 3 January .New Jeewan Nidhi provides the facility of
insurance coverage of full amount while the insured person keeps depositing premiums.The Flexi policy is a unit linked insurance
product. The plan not only provides a lump sum benefit on death but also maturity benefit irrespective of survival of the policy
holder
Mukesh Ambani 18th richest man in world : Indian business magnate Mukesh Ambani is the 18th richest person in the world
with a personal wealth of $24.7 billion in 2012, according to the Bloomberg Billionaires Index, a daily ranking of the world’s 100
wealthiest individuals. Mexican telecommunications magnate Carlos Slim remained the world’s richest person last year holding a
personal fortune of more than $70 billion.Microsoft founder Bill Gates and the founder of fashion retailer Zara, Amancio Ortega, got
a second and third places respectively.
Indian Companies Top Globally in R&D Investment : According to the European Commission report Indian companies have
come on the top globally when it comes to growth in their research and development (R&D) investments, leaving their counterparts
in the US and Europe far behind.Indian firms rank far below when it comes to absolute R&D investments made by them and the
top-ranked company from the country.These are the only 14 Indian companies present in a list of top-1500 entities worldwide in
terms of their annual R&D investments.The top-ranked Indian company is Infosys at 329th place and Japanese company Toyota
Motor appears at the top of the ranking in the 2012 Scoreboard.
IMF forecasted Indian Economic Growth Rate to be 5.9 percent in 2013 : The International Monetary Fund (IMF) on 23
January 2013 pegged India’s economic growth rate in 2013 at 5.9 per cent and projected a higher growth of 6.4 per cent next year
in line with the gradual strengthening of global expansion.

World Bank’s “Global Economic Prospects 2013″ Report : According to the World Bank “Global Economic Prospects 2013″
report , India’s growth is expected to inch closer to that of China in near future, in which the economies of developing countries like
India, China and Brazil are projected to be recovering and higher growth rate.The World Bank expects that by 2015, the growth
rate of China would be 7.9% and that of India 7%.While the growth of the world economy growth is projected to inch up from 2.3%
in 2012 to 2.4% in 2013, with the high-income countries remaining at the same level of growth of 1.3% in both 2012 and 2013, it
is the emerging markets like India, China and Brazil that would show significant signs of recovery.They are expecting a recovery in
India from 5.1% growth in 2012 to 6.1% growth in 2013.
India 119th on Economic Freedom Index : According to the ‘Heritage Foundation’ 2013 Index of Economic Freedom survey
report , India has been ranked as the 119th freest country in the world and India’s economic freedom score stood at 55.2, as its
institutional shortcomings continue to undermine the foundations for long-term economic development.The top ten countries in the
list include Hong Kong, Singapore, Australia, New Zealand, Switzarland, canada, Chili, Mauritius, Denmark and US.
India second in steel production globally : India is second only to China in terms of steel production. In the last 5 years India’s
production grew by 33 percent, thus making it behind China among the top 5 steel producing nation. World Steel Association (WSA)
data has revealed that China’s production grew by 39 per cent during 2008-2012, India’s by 33 percent and India’s production grew
constantly in the last five years from 57.8 MT in 2008 to 63.5 MT in 2009, 69 MT in 2010, 73.6 MT in 2011 and 76.7 MT in 2012
RBI cuts CRR, Repo Rates : On 29 January The Reserve Bank of India slashed its key interest rates by 0.25 per cent and
released 18000 crore rupees additional liquidity into the system to perk up growth through reduced cost of borrowing. RBI in its
third quarter monetary policy review surprised the market by cutting short-term lending rate called repo, by 0.25 per cent to 7.75
per cent and Cash Reserve Ratio (CRR) by similar margin to 4 per cent.
BHEL and GAIL Granted Maharatna Status : On 1 February The Union Government of India granted Maharatna status to BHEL
(Bharat Heavy Electricals Ltd ) and GAIL (Gas Authority of India Limited), a development which will provide them greater financial
and functional autonomy and also ensure better valuation for shares of the two public sector undertakings.Ideally any Maharatna
firm has a capacity to take investment decision of around 5000 crore Rupees without taking assistance from the government. On
the other hand, forms with Navratna status have the capability of 1000 crore Rupees.For any company to qualify for Maharatna
status, the annual turnover should be over 25000 crore Rupees in past three years, as per the guidelines issued by Department of
Public Enterprises.
Per capita Monthly Income Growth Eases to 14% in 2011-12 : On 1 February According to the the revised data of national
accounts the per capita monthly income, a measure to assess standard of living, grew at a slower rate of 13.7 per cent to Rs 5,130
in 2011-12 at current prices compared to Rs 4,513 in 2010-11.On the Gross Domestic Saving (GDS) front, the data revealed that
the growth at current prices in 2011-12 slowed to 30.8 per cent of GDP at market prices against 34 per cent in the previous
year.The gross domestic capital formation has increased from “Rs 28,71,649 crore in 2010-11 to Rs 31,41,465 crore in 2011- 12 at
current prices.It further revealed that the per capita private final consumption expenditure (PFCE) at current prices in 2011-12 is
estimated at Rs 42,065 as against Rs 36,677 in the year 2010-11, showing an increase of 14.7 per cent against an increase of 15.7
per cent in the previous year.
Argentina Censured by the IMF for Economic Data : On 3 February The International Monetary Fund (IMF) has censured
Argentina for the quality of its official inflation and GDP data.Inflation in Argentina is estimated by private economists to be at 25%
a year and rising but the government reported it at 11% or less for last year.Argentina became the first country to be censured by
the International Monetary Fund for not providing accurate data on inflation and economic growth under a procedure that can end
in expulsion.
Mumbai Is World’s Cheapest City : Mumbai shares the title of the world’s cheapest city with Karachi, in Pakistan, according to
the “Worldwide Cost of Living 2013” survey by the Economist Group’s Economic Intelligence Unit.After Mumbai and Pakistan comes
Delhi ,Algiers, Bucharest, Colombo and Panama City.According to the report, the five most expensive cities in the world are Tokyo
and Osaka in Japan, Sydney, Oslo and Melbourne.
Railway Budget 2013-14
On 26 February Railway Minister Pawan Kumar Bansal presented the 2013-14 Railway Budget in the Loksabha . Railway Budget
2013-14 Highlights :-
2013-14 Railway Budget Estimates – Rs.42,210 crores
Highest ever plan outlay of Rs.63,363 crores in 2013-14
Good Earnings – Rs.93,554 crores
Good Traffic Receipts – Rs.1,43,742 crores
Total Revenue Receipts – Rs.1,46,626 croresOrdinary Working Expenses – Rs.96,500 crores
Operating Ratio to be 87.8%. -
A new Forged Wheel Factory at Rae Bareli, Coach Manufacturing Unit in Sonepat District (Haryana) ,Midlife Rehabilitation Workshop
at Kurnool (Andhra Pradesh), new wagon maintenance workshop in Kalahandi (Odisha).
Highest ever plan outlay of Rs.63,363 crores
5.2 per cent growth in passenger traffic expected in 2013-14
Freight loading of 1047 MT, 40 MT more than 2012-13.
67 new Express trains to be introduced.26 new passenger services, 8 DEMU services and 5 MEMU services to be introduced. Run of
57 trains to be extended. Frequency of 24 trains to be increased.22 new rail lines to be taken up in 2013-14
Proposal for setting up of Railway Tariff Regulatory Authority formulated and at inter-ministerial consultation stage. Fuel
Adjustment Component (FAC) linked revision for freight tariff to be implemented from 1st April 2013.
72 additional suburban services in Mumbai and 18 in Kolkata
An independent Rail Tariff Authority has been formalised
ndian Railways Institute of Financial Management to be set up at Secunderabad
Recruitment to RPF with 10% vacancies reserved for women.Seek to fill 1.52 lakh vacancies in railways this year. 47000 vacancies
for weaker sections and physically challenged to be filled up soon
By end of 2013-14, 1,500 km of contracts to be awarded for two dedicated rail corridors Economic Survey of contracts to be
awarded for two dedicated rail corridors.
Union Budget 2013-14
On 28 February Union Finance Minister P Chidambaram Presented the Rs.16,65 279 Crore(Planed Expenditure Rs. 5,55,322 crore ,
Non Planed Expenditure Rs 11,09,975 crore) Union budget in the Lok Sabha for the financial year 2013-14.This is the 82’nd Budget
for India and 8th Budget for the Finance Minister P Chidambaram.In the past, former Prime Minister Morarji Desai presented the
Union Budget 8 times as Finance Minister. The Highlights of Union Budget 2013-14: Total budget expenditure seen at 16.65 trillion
rupees in 2013-14.
on-plan expenditure estimated at about 11.1 trillion rupees in 2013-14.
India’s 2013-14 plan expenditure seen at 5.55 trillion rupees
Revised estimate for total expenditure is 14.3 trillion rupees in 2012-13, which is 96 point of budget estimate
Expect 133 billion rupees through direct tax proposals in 2013-14
Expect 47 billion rupees through indirect tax proposals in 2013-14
Target 558.14 billion rupees from stake sales in state-run firms in 2013-14
Expect revenue of 408.5 bln rupees from airwave surcharges, auction of telecom spectrum, licence fees in 2013-14
But will give some tax relief of Rs. 2000 for every person who has an annual income of up to Rs. 5 lakh
RBI expected GDP growth of 5.5% for Financial Year 2013-14
Rs.1000-crore Nirbhaya Fund announced for the empowerment of women
Rs.6,000 crore to be allocated for rural housing fundDefence allocation increased to Rs. 2.03 lakh crore
Rs. 6,275 crore to ministry of science and technology, Rs. 5,880 crore to Department of Atomic Energy
Rs.27,049 crore allocation to the Agriculture Ministry
Rs. 37,330 crore allocated for Ministry of Health & Family Welfare
Rs.110 crore to be allocated to the department of disability affairs
Rs.37,330 crore allocated for Ministry of Health & Family Welfare
Rs.14000 crore will be provided for PSB recapitalization. He will constitute a panel on transaction costs, and financial policies.
Rs.6,5867 crore for Education , an increase of 17 percent over RE for 2012- 13.
Rs 6275 crore to Ministry of Technology
Rs.2 trillion for defence sector
Rs.15,260 crore to be allocated to Ministry of Drinking Water and Sanitation.
Rs.14,873 crore for JNNURM for urban transportation
Rs.80,194 crore allocation for Ministry of Rural Development
Rs.33,000 crore for MGNREGA
Rs.37,330 crore allocated for Ministry of Health & Family Welfare.
Rs.13215 crore for mid-day meal programme
Rs.41,561 crore for SC plan and Rs 24,598 crore for tribal plan.
3511 crore allocation to minorities which is 12 per cent hike over budget estimates, 110 crore rupees allotted for welfare of
disabled.
65867 crore rupees have been allocated to the Ministry of Human resources development which is 17 per cent hike over the revised
estimates.
A surcharge of 10 percent on persons (other than companies) whose taxable income exceeds Rs.1 crore have been levied.
Relief of Rs. 2000 for the tax payers in the first bracket of 2 to 5 lakhs.”
Nine Indian Women in Forbes Asia Power Business Women List : On 1 March ICICI Bank CEO and MD Chanda Kochchar,
Biocon founder Kiran Mazumdar-Shaw and film producer Ekta Kapoor are among the nine Indian women named in Forbes
magazine’s inaugural ‘Asia Power Businesswomen list’.The list also includes Britannia Industries Managing Director Vinita Bali ; HT
Media Chairman and Editorial Director Shobhana Bhartia ; AZB & Partners Founder and Senior Partner Zia Mody ; Axis Bank CEO
and Managing Director Shikha Sharma ; and Tractors & Farm Equipment Chairman Mallika Srinivasa; Kapoor, TV and movie
producer.
Mukesh Ambani Is Richest Indian on Forbes’ list : As per an annual ranking published on 4 March 2013 by business magazine
Forbes,Mukesh Ambani has retained his title as India’s richest person for sixth year in a row,with networth of $ 21.5 billion.In the
overall rich list of world’s billionaires, Mukesh Ambani is ranked 22nd, while the second-richest Indian Lakshmi Mittal is at 41st
position with a networth of USD 16.5 billion.Mexican business tycoon Carlos Slim has topped the rankings with a networth of USD
73 billion, followed by Bill Gates (USD 67 billion), Spain’s Amancio Ortega (USD 57 billion), Warren Buffett (USD 53.5 billion) and
Larry Ellison (USD 43 billion) in top five.
Delhi, Mumbai, Hyderabad Airports Among Top 5 in the World : Airports of Delhi, Mumbai and Hyderabad are among the top
five airports in the world providing international standard services.Airports Council International (ACI),a global body of airports, has
adjudged Delhi’s Indira Gandhi International (IGI) airport as second best after Seoul’s Incheon airport in the category of airportshandling 25-40 million passengers per annum (MPPA) for their service quality for the year 2012.Mumbai’s Chhatrapati Shivaji
International airport was adjudged the third best in this category.Hyderabad’s Rajiv Gandhi International airport (RGI) has bagged
the second position for their service quality in the category of five to 15 MPPA. Japan’s Nagoya airport was adjudged the best in this
category. Seoul’s Incheon ranked first, Singapore’s Changi second and Beijing was placed at the third spot.
RBI to Launch Plastic Currency Notes in 5 Cities :On 12 March The Union Government and RBI decided to introduce one billion
pieces of 10 Rupees bank notes made of plastic on a field trial basis in five cities.A 10 Rupees note in polymer/plastic on a field trial
basis will be introduced first; Minister of State for Finance .The field trail is supposed to be conducted in five cities of Kochi, Mysore,
Jaipur, Bhubhaneswar and Shimla with varied geographical locations and climatic conditions.As per the RBI, the primary objective
of introduction of polymer notes is to increase its life, it could also help in combating counterfeiting.
Gujarat Tops in FMCG Consumption : On 12 March According to the ‘Evolution of Indian Rural Markets During 2004-05 to 2009-
10’ report released by the Associated Chambers of Commerce and Industry of India (Assocham) , Gujarat has garnered maximum
growth in per capita food and non-food consumption expenditure across the country between FY05 and FY10 with growth rate of
about 28% and 33% respectively. Besides registering a growth of about 24.69%, Gujarat has also topped in terms of household
consumption of fast moving consumer goods (FMCGs) during the fiveyear period.West Bengal has seen least growth of just about
1.6% and about 8% in per-capita food and non-food consumption expenditure, respectively.The per capita food and non-food
consumption expenditure across India has increased at over 14% and 17%, respectively, between FY05 and FY10.
India Top Rice Exporter in FY 2011-12 : On 13 March As the export price of Indian rice was more competitive than the Thai
rice, India has displaced Thailand from the position of top exporter of rice during 2011-12, Minister of State Commerce and
Industry was informed to Rajya Sabha.In 2010-11, the rice exports stood at 24.71 lakh tonnes from 21.56 lakh tonnes in the
previous fiscal.Rice exports were at 74.67 lakh tonnes during April-December 2012 against 71.75 lakh tonnes in the full fiscal year
of 2011-12.
India 5th in World Billionaire Rich List : According to the Knight Frank “Wealth Report 2013”, India stands 5th among the top
10 countries with the largest number of billionaires with 122 and the number is expected double by 2022.Mumbai has secured the
7th spot in the list of top global cities with a High Net Worth Individual HNWI population.Presently, the city has 2,105 HNWIs and is
expected to touch 4,988 with a 137 per cent rise by 2022. Delhi is not too far behind Mumbai; it ranks 11th with a current HNWI
population of 1,945 which is likely to grow by 120 per cent and reach 4,278 by 2022. In the cities that that matter to HNWI’s , New
York and London are the first two places in the list.
India May Become 5th Largest Manufacturing Nation : According to the Boston Consultancy Group (BCG) report titled ‘People
productivity-Key to Indian manufacturing competitiveness’, India may become the 5th largest manufacturing nation from 9th
position at present, if the country is able to increase the share of manufacturing in GDP to 25 per cent.The National Manufacturing
Policy envisages that India’s manufacturing sector should increase its share of GDP from 15 percent at present to 25 percent by
2022, in line with global peers.It will help India become the fifth-largest manufacturing nation.
Hindujas are Britain’s Richest Asians : Leading NRI businessmen Srichand Hinduja and Gopi Hinduja, Chairman and Co-
Chairman of the Hinduja Group, have emerged as the richest Asians in Britain in 2013.After playing second fiddle for years to steel
tycoon Lakshmi Mittal, the Londonbased Hinduja brothers have come out top this year with net wealth assessed at 12.5 billion
pounds – up 3 billion pounds on the 2012 figure.
Mumbai Falls to 66th Rank Among Leading Global Financial Hubs : According to the latest Global Financial Centres Index
(GFCI), Mumbai which is India’s financial capital has slipped to 66th rank in the list of leading financial centres around the world,
with New Delhi failing to even make a mark.GFCI offers profiles,ratings and rankings for 79 financial centres around the world
positioned Mumbai at the 66th place, which is down three places from last year when it was ranked 63rd on the much coveted
list.Mumbai is the only Indian city on the list. London topped the list, followed by New York ranking second in the list. Hong Kong
and Singapore in the third and fourth place respectively.
RBI Cuts Repo Rate by 25 Base Points : On 19 March The Reserve Bank of India (RBI) cut the repo rate by 25 basis points to
7.5 per cent from 7.75 percent in its midquarter review of the monetary policy. Consequently, the reverse repo rate under the LAF
stands adjusted to 6.5 per cent from the earlier 6.75 per cent and the marginal standing facility (MSF) rate and the Bank Rate to
8.5 per cent with immediate effect.The Cash Reserve Ratio (CRR) has been retained at 4 per cent.
India Joins The Madrid Protocol System : On 8 April India joined the International Registration of Marks at the World
Intellectual Property Organisation (WIPO) by depositing the instrument of accession to the Madrid Protocol.India is the 90th
member to join the international trademark system.India is the 90th member to join the international trademark system and the
treaty will enter into force with respect to India on 8 July 2013.The Madrid Protocol system provides for the international
registration of trade marks by way of one application that can cover more than one country. The opportunity of having a single
registration to cover a wide range of countries gives advantages, both in terms of portfolio management and cost savings, as
opposed to a portfolio of independent national registrations.
Yamaha to Develop Cheapest Bike of the World in India : Yamaha, the Japanese two-wheeler company on 9 April 2013
announced that it will soon roll out the cheapest motorcycle of the world in India. The price of this bike would be around 500 US
dollar or 27000 Rupees approximately.
WTO cuts 2013 global trade growth forecast to 3.3% : The World Trade Organisation (WTO) on 10 April 2013 cut its forecast
for global trade growth in 2013 to 3.3 percent, from the previous prediction of 4.5 percent.

Gujarat Tops in Attracting Private Investment : According to the “”Composition of Outstanding Private Investments Across
States “” report released by Assocham ,Gujarat has ranked on top for attracting investment across the country — cornering about
14 per cent of total outstanding private sector investment worth over Rs 75 lakh crore as of December 2012.Odisha ranks second
with private investment commitments worth over Rs 8 lakh crore.With a share of about 9.4 per cent and 9.3 per cent, Andhra
Pradesh and Maharashtra both have attracted private investments worth over Rs 7 lakh crore respectively.The private sector
accounts for over 62 per cent of total outstanding investments worth about Rs 122 lakh crore attracted by India as of December
2012.Of the total investments from private sources worth over Rs 75 lakh crore, the domestic private sector accounts for a majority
share of about 58 per cent.Himachal Pradesh, Jammu and Kashmir, Uttarakhand and Assam account for a share of less than even
one per cent in the total private investment commitments attracted by India.
IMF slashed Economic Growth Rate of India to 5.7 percent from 5.9 percent for 2013 : IMF(International Monetary Fund)
in its latest release on 16 April 2013 of the World Economic Outlook (WEO) slashed the growth projection of India from its earlier
prediction of 5.9 percent to 5.7 percent for the calendar year 2013.
Ambani Brothers 20th Richest in World : Mukesh and Anil Ambani, India’s leading industrialist brothers, have been together
listed as 20th richest in the world in the Sunday Times Rich List 2013.The Walton family of the US, who own Supermarkets
(Walmart), are the richest in the world with a 90 billion pounds fortune in 2013 as against 51 billion pounds last year.The Hinduja
brothers, Srichand and Gopichand Hinduja, Chairman and Co-Chairman respectively of the Hinduja Group, are 47th richest in the
world with a fortune worth 11 billion pounds in 2013 as against 9 billion pounds last year.
Spain Unemployment Rate Hits New Record : On 24 April According to the National Statistics Institute data ,Spain’s
unemployment rate soared to a new record of 27.2% of the workforce in the first quarter of 2013.The total number of unemployed
people in Spain has now passed the six million figure, although the rate of the increase has slowed.The jobless rate, which stood at
7.9% in mid-2007, has risen relentlessly since the collapse in 2008 of a Spain’s labour-intensive property boom.
India became the world’s eighth most powerful nation : According to Delhi-based Foundation for National Security Research
(FSNR), the world’s 10 most powerful countries, India had been ranked 8th. India is ranked eighth in 27 countries. Professor Satish
Kumar says that we study about the selection of powerful countries on several grounds. Some of these countries had to fulfill the
necessary criteria. For instance, were the countries, whose population was more than 5 million. The level of GDP was over U.S. $
500 billion. India is one of such countries.Study states that the United States is the world’s most powerful country and China stood
in 2nd position.
India’s GDP likely to improve to 5.7% in 2013: IMF : According to International Monetary Fund’s(IMF) ‘Regional Economic
Outlook: Asia and Pacific’ report ,the GDP of India in 2013 is 5.7% and in 2014 it is 6.2%.