Obama says new data shows U.S.

economy recovering……

WASHINGTON, Oct 31 (Reuters) - President Barack Obama used his weekly radio
address on Saturday to tell Americans that this week's positive job and economic
growth figures are yet more evidence that the U.S. economy is recovering.

But he cautioned "we have a long way to go before we return to prosperity" and
more job losses were likely in coming days.

The real picture

The U.S. unemployment rate remains stubbornly high at 9.8 percent, despite a $787
billion economic stimulus that Obama and his fellow Democrats, who control
Congress, pushed through in February.

But good news for the Obama administration this week was new data showing the
U.S. economy growing in the third quarter for the first time in more than a year,
signaling the end of the worst recession in 70 years.

Source: http://www.reuters.com/article/companyNewsAndPR/idUSN3042377520091031

The Indian Socio-Cultural Context

Question 1) In this context what is the Indian prospect?

Statement: India GDP to grow by 5.4% in 2009: IMF………

The International Monetary Fund (IMF) on Thursday retained its projection for Indian
economic growth at 5.4% in 2009, implying a slower growth in the second half of 2009-
10.

In its twice-yearly World Economic Outlook released in Istanbul, the Fund lowered the
projection for the next year by 0.1 % to 6.4%.

The Indian economy grew by 5.8 %in the first quarter and 6.1% in the second quarter of
this calendar year. Finance minister Pranab Mukherjee and Planning Commission deputy
chairman have expressed doubts whether the economy will grow at the rate of 6.1% in
the third and fourth quarters of 2009 due to a weak monsoon.

The economy grew by 7.3% in 2008 and 9.4% in 2007. If IMF projections prove correct,
it would grow at the least rate in recent years due to the global financial crisis and
drought. The Reserve Bank of India (RBI) has projected the country’s economic growth
at 6% in fiscal 2009-10, which comprises last three quarters of the current calendar year.

The IMF and World Bank will hold two-day annual meeting in Istanbul from October 6.
The IMF said after a deep recession, global economic growth has turned positive and is
driven by wide-ranging, coordinated public intervention that has supported demand and
reduced uncertainty and risk in financial markets.

The global recovery, however, is expected to be slow, “as financial systems remain
impaired and support from public policies will gradually have to be withdrawn.”

It added that in most countries, growth will be positive for the rest of the year as well as
in 2010, but stressed that to sustain the recovery, private consumption and investment
would have to be strengthened. The Fund said trade and currency imbalances need to be
addressed to make sure the rebound is sustainable.

And what is the truth……rather we should call it reality? Since truth is something
which even Gandhiji was feeble to define………
Quotes of Gandhiji
 Indian Polity

Global Warming

Climate Change Picks Pace New IPCC Report Warns

Nairobi, 22 June 2009 - "The world faces a growing risk of "abrupt and irreversible climatic shifts," was the
conclusion of report by international scientists issued on Thursday. The research, which was written and
reviewed by many of the scientists who compiled the benchmark UN Intergovernmental Panel on Climate
Change (IPCC) report in 2007, presents the newest scientific evidence that warns that ocean temperatures,
sea levels, extreme climate conditions and the retreat of the Arctic sea ice have picked up more pace than
experts predicted two years ago.

According to the report, huge stores of gases, such as methane which were trapped for millennia in the
Arctic permafrost, may be starting to leak into the atmosphere. It stressed those deep and early emissions
cuts are critical for slowing down the global warming process.

"Rapid, sustained and effective mitigation? Is required to avoid 'dangerous climate change'," it said.

The report is intended to give inspiration to world leaders who will convene in Copenhagen in December to
formalize the climate agreement that will follow the Kyoto Protocol which expires in 2012.

While a series of reports released this week in the United States and Europe have indicated that climate
change is posing a serious global threat, UN officials in a General Assembly meeting in New York on
Thursday stressed that renewable and clean energy offer the world hope not only in combating climate
change but also in reversing the global economic crisis.

UN General Assembly President Miguel D'Escoto said that, "The prospects for renewable energy have
never looked better, even in the face of recession." He added: "It would be an enormous step forward if this
recovery were coupled with visionary policies, innovative technologies and broad incentives for new and
renewable sources of energy."

In addressing the Assembly, UN Secretary General Ban Ki-moon noted that while climate change was a
global threat, it was also generating a "world of opportunities". Said Mr. Ban: "The Green Economy is the
wave of the future." He added: "We stand at a crossroads. One direction leads to an abyss. The other
direction leads to sustainable, more prosperous, more stable world. The choice should be clear."

Measures

Arnab this is specifically meant to you…………. How often do you use

your bike??

Concept of BaalChhal