English Current Affairs June 2015

Joint Conference of Chief Ministers and Chief Justices
A joint Conference of the Chief Justices and the Chief Ministers was held on April 5, 2015 in New Delhi. On this
occasion Prime Minister Narendra Modi noted that the judiciary should attain perfection. He urged judges to
evolve an in-built self-correction mechanism to prevent rot from within.
Earlier in his speech, Chief Justice of India H. L. Dattu-described the relationship between the judiciary, and the
executive as one of siblings who hold each other's hands and correct each other when needed. The judiciary he
said, was open to 'suggestions, change and dialogue' to evolve the administration of justice.
Even as the CJI laid emphasis on the government's cooperation to improve court infrastructure, the Prime
Minister expressed unhappiness over the existence of more than a 100 tribunals and the way they were eating
into financial resources. "Is there a need for so many tribunals ? I want all seniors in the Supreme Court to
contemplate if tribunals are actually helping to improve the functioning of the judiciary a lot of budget goes
waste in tribunals," Mr. Modi said.
CJI Dattu underlined that the issue of pendency of cases in courts cannot be solved by the judiciary alone and
requires efforts on multiple fronts and multiple agencies, including drastic change, in administration of police
and work by prosecution agencies, apart from judicial reforms to tackle this complex problem. He said that the
Supreme Court and High Courts have already been taking wide-ranging measures to arrest pendency. The CJI
and Law Minister DV SadanandaGowda, who also interacted with media after the conference, said that it had
been decided to fix an outej limit of five years to complete trial in criminal cases.
1st Indigenously Built Scorpene Submarine Undocked by Defence Minister
Defence Minister ManoharParrikar on April 6 launched the first indigenously built Scorpene submarine at the
Mazagaon Dockyard Ltd. in Mumbai.
The Scorpene is part of the ambitious Project 75 of Indian Navy's submarine programme, undertaken with
French collaboration, whichwill include six such vessels joining the fleet over the next few years.
The submarine is expected to be commissioned by September 2016.
At present, Indian Navy has 14 conventional diesel-electric powered submarines, which include 10 Russian Kilo
Class and four German HDW class vessels.
It_is the first of the six Scorpene submarines in which DCNS of France is a collaborator with MDL as the builder.
PM Modi Launches Air Quality Index to Monitor National Pollution Level
Prime Minister NarendraModi on April 6, 2015 launched the National Air Quality Index (AQI) for monitoring
the quality of air in major urban centres across the country on a realtime basis and enhancing public awareness
for taking mitigation action.
Launched during the two-day Environmentand Forest Minister's conference, AQI assumes significance as Delhi
which has been termed one of the most-polluted cities in the world and other cities in the country have raised
deep concern over their deteriorating air quality.
The AQI has been at present launched for 10 cities - Delhi, Agra, Kanpur, Lucknow, Varanasi, Faridabad,
Ahmedabad, Chennai, Bangalore and Hydera-bad. It will have one number, one colour and one description to
inform the public about air quality in asimple and easily understandable format. The ministry said each of these
cities will have 6-7 continuous monitoring stations.
"The AQI may prove to be a major initiative for improving air quality in urban areas as it would enhance public
awareness and involvement and create a competitive environment among cities to take steps for air pollutionmitigation," it said in a release
Union Cabinet Clears Real Estate Bill
[Its object is to establish regulatory body for transparent business]
The Union Cabinet on April 7, 2015 approved the Real Estate (Regulation and Development) Bill which will
address a long-standing demand to bring in a regulator for the real estate sector.
The Bill seeks to protect the interests of consumers and establish regulatory bodies at the Centre and States for
ethical and transparent business practices in the real estate sector.
Provisions
29 Subhash Road, Behind Lord Venkateshwar Wedding Point, Dehradun, Ph.:0135-2712477, 9358102781, 8979992781
www.optionsindia.org / www.optionsdehradun.com
Bill makes it mandatory for builders developing a project exceeding 1,000 sq m to register with RERA.
Registration can also be cancelled in case of persistent violation.
In case of grievances, consumers can approach any consumer forum.
Developers will have to disclose all information to RERA. failing which they will be penalised 10% of project
cost.
Accountability to Consumers
These measures are expected to boost domestic and foreign investment in the sector and help achieve the
objective of the Government of India to provide 'Housing for All by 2022', through enhanced private
participation," a government release said.
The Bill also now includes a condition that prohibits a developer from changing the plan in a project unless 2/3rd
of the alloteeshave agreed for such a change.
Dhanush Test-fired Successfully
India successfully test-fired the nuclear weapons capable Dhanush missile for its full range of 350 km off
theOdisha Coast on April 9, 2015.
After aflight of 500 seconds, the missile splashed down near the target point in the sea with an accuracy of less
than 30 metres, the scientists said, describing it as a 'perfect mission'.
PM Modi's Three-Nation Tour: France, Germany and Canada
Prime Minister visited France, Germany and Canada in the second week of April. He landed in France on April
9. After two days' stay there he landed at Hannover Airport Germany. And then he dashed to Canada after two
days' stay in Germany.
France
In Paris Modi addressedthe United Nations Educational, Scientific and Cultural Organisation (UNESCO) and
praised the initiatives taken by the Organisation, adding that the programme to educate and support the girl
child in India was the one which is closer to his heart.
Agreements
On April 10 itself Modi held talks with French President Francois Hollande and both sides inked 17 agreements
and three letters of intent. India said it would buy 36 Rafale fighter jets in fly away condition as soon as possible.
France will partner India in a study for upgrading speed on Delhi-Chandigarh rail line to 200 km per hour and
help in re-development of Ambala and Ludhiana railway stations.
The French Connection
Airbus has assured its Indian outsorucing will increase vfrom $ 400 million to $ 2 billion over the next five years.
The group is willing to set up final assembly lines and establish supply chains and related infrastructure for
military transport aircraft and helicopters in India
Airbus Defence and Space has submitted a joint proposal with Tata to produce the modern C295 aircraft in
India.
PM Modi's 'Make in India' 'initiative' gained further momentum with French Airbus promising to increase its
Indian outsourcing to $ 2 billion in next five years. Mr. Modi on April 11, 2015 visited Airbus's facility in
Toulouse in Southern France and called it amazing.
Rafale fighter deal is a great decision taken on the terms and conditions that are better." He went to the extent of
saying that the deal to buy 36 Rafale fighter jets from the French government is the minimum needed 'Oxygen'
for the Indian Air Force.
Modi Gifts 'Tree of Life' Painting toHollande
Prime Minister NarendraModi, who wound up his first | visitto France, gifted President Francois Hollande a
painting titled 'Tree of Life', which reflects the traditional societal respect for nature in India. The painting,
pigments on silk, has been done by an Odisha artist, BhaskarMahapatra, who has i been practicing the art form
for the last 30 years along with the I rest of his family, and works from his home in the heritage ' crafts village of
Raghurajpur
Smart Cities
During PM Modi's visit to Paris, India signed two agreements related to the Jaitpur Nuclear Power Plant (JNPP).
The first, a pre-engineering agreement with AREVA, Alstom and NPCII, aims to bring greater clarity on all
technical aspects of the project. The second agreement signed between AREVA and Larsen and Tubro is aimed at
reduction of cost by increasing localisation to improve the financial viability of the Project.
Germany
PM Modi flew to Germany on April 12, 2015 and landed at the Hannover airport where he was accorded a warm
reception.
The Prime Minister while inaugurating the India-German Business Summit. The PM said, "I take this opportunity
for inviting more and more German companies to India. I assure you all support from my side."
Earlier, speaking at the inauguration of the India Pavilion at the Hannover Fair on April 13, 2015, Modi said that
India has a huge potential to become a manufacturing hub even as he invited the whole world to partner with the
world's fastest growing economy in this endeavour.
Modi said as he along with German Chancellor Angela Merkel opened the India Pavilion at the Hannover Messe,
the world's largest industrial fair.
Joint Statement
German Chancellor Angela Merkel too said that Germany and India have agreed on a united fight against
terrorism, calling it a global challenge.
The two leaders in a joint statement agreed to "support the respective programmes and efforts in India and
Germany to broaden knowledge of each other's languages among the youth in accordance with the national
policy of each country.
The Areas of Cooperation
Thejoint statement said that the two leaders agreed to encourage our respective ministries/departments to take
proactive steps to advance our collaboration in the following areas
1.
Manufacturing
2.
Skill Development
3.
Urban Development
4.
Environment
5.
Railways
6.
Cleaning of Rivers
7.
Renewable Energy
8.
Education
9.
Science and Technology
10. Strengthening efforts towards carrying on negotiations from ambitious EU India Free Trade Agreement with
a vow to its early conclusion.
Canada
On the last leg of his three-nation tour PM Modi arrived in Ottawa on 14-15, 2015. He was accorded an encore
rockstar reception from the Indo-Canadian Community in Toronto on April 15, 2015 evening. Toronto's Ricoh
Coliseum exploded with a Bollywood extravaganza that brought around 10 thousand attendees from among the
1-2 million strong Indo-Canadian community. The event was organised by the National Alliance of IndoCanadians (NAIC). Earlier Mr. Modi had held mutual discussions with Canadian Prime Minister Stephen Harper
in Ottawa.
Pacts : India Canada Resume Nuclear Cooperation
The two leaders signed several pacts, particularly the 13 pacts on skill development. Other pacts included the one
on supply of uranium.
India and Canada will resume commercial cooperation in the civil nuclear energy sector after decades, PM Modi
said on April 15 hoping his visit will act as a springboard for taking the bilateral relationship to a new level.
Canadian PM Stephen Harper announced that his country will supply uranium to India for the next five years.
Agreement for procurement of nuclear fuel would bring in a new era of bilateral cooperation, said Modi after the
announcement. Under the deal worth hundreds of millions of dollars, Canadian producer Cameco Corp is
expected to provide fuel for Indian reactors.
PM Modi
India and Canada recognise the peace and stability in West Asia will make us safer at home. Look forward to our
continuing partnership in G-20. Things are changing in India. India is seen as the fastest growing economy. We
want to make India a manufacturing hub. And to do that we need raw material that Canada has agreed to
supply. Uranium is very important to pursue our mission of clean energy. Now the world has realised that
terrorism has no geographical boundaries.
PM Harper
Canada and India also share people. Indian community has brought their culture, films and traditions here.
Canada is ready to deepen cooperation with India in science, defence and space technology. PM Modi and I are
determined to move forward (on India-Canada trade partnership). I am really delighted to see this particular
trade deal (on supplying Uranium) moving forward. All governments of the world have a shared interest in
pooling resources towards fighting terrorism. India and Canada will continue to deepen their cooperation.
Canada and India not only share values and institutions, also share opportunities and threats.
Indian Navy Launches New Stealth Destroyer' Visakhapatnam'
lndian Navy's new stealth destroyer 'Visakhapatnam', designed indigenously and fitted with advanced features,
was launched in Mumbai on April 20, 2015, boosting the maritime force's fire power capability.
The Kolkata class warship, the first of P15-B stealth destroyers, was launched by MinuDhowan, wife of Chief of
Naval Staff Admiral R. K. Dhowan, at Mazgaon Docks Ltd. (MDL).
The ship weighed approximately 3,000 tonnes during the launch.
The 163-metre-long vessel will be propelled by four gas turbines, and is designed to achieve a speed of over 30
knots at a displacement of approximately 7,300 tonnes
It will be fitted with supersonic surface-to-surface missile system. The system enables the ship to engage shorebased and naval surface targets at long range, making it a lethal platform for strike against enemy targets
Govt. Notifies National Judicial Appointments Commission (NJAC) Puts an End to Collegium
Acting on its words in the Supreme Court that the "judges job is to judge cases and not to appoint their brother
judges," the Union Government on April 13, 2015 notified the National Judicial Appointments Commission law
and effectively brought to an end the two-decades-old collegium system of appointing judges.
The notification brings into immediate effect the National Judicial Appointments Commission Act, 2014 and the
99th Constitution Amendment Act.
Now, the political class and civil society have an equal voice, along with the judiciary, in the appointment and
transfer of judges in the highest judiciary.
The Commission comprises the Chief Justice of India, two senior-most Supreme Court Judges, the Union Law
Minister and two eminent persons
With $70.38 Billion India Tops 2014 Remittance Chart.
Rich Returns
Yet again, India has topped the remittance chart for 2014, pulling in $70-38 billion from its migrant workforce.
China follows with $64-14 billion, and Philippines, Mexico, and Nigeria trail at a distance
Panel to Take a Call on PublicisingNetaji Files
The government formed in second week of April 20l5an inter-ministerial committee to decide if more classified
files on Subhash Chandra Bose could be made public following reports that the Jawaharlal Nehru government
was keeping tabs on Netaji's family for 20 years
Cabinet Secretary Ajit Seth will head the panel that will review the Official Secrets Act in connection with the
Netaji files about 58 in the Prime Minister's Office (PMO) and nearly 25 with the foreign ministry. Rules say
files can be classified after 30 years, officials of the Research and Analysis Wing (RAW), Intelligence Bureau (IB)
home ministry and PMO would be part of the panel
India Successfully Test-fires Nuclear Capable Missile Agni-III
India on April 16, 2015 successfully test-fired its nuclear-capable Agni-III ballistic missile with a strike range of
more than 3,000 km from Wheeler Island off Odisha Coast.
The indigenously developed surface-to-surface missile was test-fired from a mobile launcher at launch complex-4
of the Integrated Test Range (ITR) at Wheeler island by the army.
"The trial, carried out by the Strategic Forces Command (SFC) of the Indian army was fully successful," said ITR
Director MVKV Prasad,!
Itcan carry a warhead of 1-5 tonne which is protected by carbon all composite heat shield.
News in a Nutshell
Bangladesh okays new trade pact with India
Bangladesh Cabinet has approved a revised trade deal with India under which the two nations would be able to
use each other's land and water routes for sending goods to a third country, removing a long standing barrier in
regional trade. "Bangladesh will now be able to use Indian roads, railways and waterways in transshipment of
goods to Bhutan and Nepal," Cabinet Secretary Musharraf HossainBhuiyan said, adding that under the deal
India would also be able to send goods to Myanmar through Bangladesh. The deal would be renewed
automatically after five years if there are any objections
Palestine Joins International Criminal Court (ICC)
Palestine formally joined the International Criminal Court (ICC) on April 1, 2015, a move the Palestinians hope
could open the door to the possible prosecution of Israelis for alleged war crimes
Mission Tikrit: Iraqi Govt. Declares Victory
Jraq declared a 'magnificent victory' on April 1, 2015 over the Islamic state group in Tikrit, a key step in driving
the militants out of their biggest strongholds
Iraqi Defence Minister Khalid al Obeidi made the pronouncement, saying security forces have 'accomplished
their mission' in the month-long offensive to rid Saddam Hussein's hometown Tikrit and the broader Salahuddin
province of the militant group.
Biggest Victory
Iraqi forces, including soldiers, police officers, Shia militias and Sunni tribes, launched a large-scale operation to
recapture Tikrit on March 2. Last week, the United States launched airstrikes on the embattled city at the request
of the Iraqi government
Recapturing Tikrit would be the biggest win so far for Baghdad's Shia-led government. The city is about 130 km
north of Baghdad and lies on the road connecting the capital to Mosul.
Historic TehranWest Nuclear Deal
Iran streets erupt with joy as nation looks forward toeconomic recovery
Action plan aims at reducing Tehran's uranium stockpile by 98% and sealing back the number of centrifuges.
Obama hails the historic understanding between the west and Iran, but counsels caution, says success in deal is
not guaranteed.
International media welcomes the agreement as a first important step and a transformative moment in time.
After marathon negotiations, the US, Iran and five other world powers announced a deal on April 2, 2015
outlining limits on Iran's nuclear programme so that it cannot lead to atomic weapons, directing negotiators
towards a comprehensive agreement by June 30.
The tentative agreement stuck on April 2, 2015 after eight days of talks at Lausanne in Switzerland clears the way
for negotiations on a settlement aimed at allaying western fears that Iran was seeking to build an atomic bomb
and in return lift economic sanctions on the Islamic republic
It marks themost significant step towards approchement between Iran and the United States since they became
enemies with the 1979 Iranian revolution
The Joint Comprehensive Plan of Action (JCPOA) is aimed at getting Iran to reduce its stockpile of low-enriched
uranium by 98% and scale back the number of installed centrifuges. According to the terms of the agreement Iran
will receive sanctions relief if it verifiably abides by its commitment.
Enrichment
Iran's enrichment capacity, enrichment level and stockpile will be limited for specified durations, and there will
be no enrichment facility other than the one at Natanz
The US also said Iran had agreed to not enrich uranium over 3-67% for at least 15 years and Tehran would reduce
its current stockpile of 10,000 kg of low-enriched uranium to 300 kg of 3-67% LEU for 15 years.
Inspections
The IAEA will have regular access to all of Iran's nuclear facilities, including the enrichment facilities at Natanz
and Fordow, and with the use of modern monitoring technologies.
They will also have access to uranium mines and surveillance at uranium mills where Iran produces yellow-cake,
a type of uranium concentrate powder, for 25 years
Reactors
According to the US, Iran agreed to redesign and rebuild a heavy water research reactor in Arak
Sanctions
Nuclear-related sanctions of the US and the EU will be suspended after the IAEA has verified that Iran has taken
all the key nuclear-related steps. "If at any time Iran fails to fulfill its commitments, these sanctions will snap back
into place," the US said
All past UN resolutions on the Iran nuclear issue will be lifted once Tehran acts to address key concerns on
enrichment, transparency, the Fordow and Arak facilities and Possible Military Dimensions of its nuclear
programme
Malaysia's Parliament Passes New Anti-Terror Bill
[Malaysian Parliament revives detention without trial in this anti-terror law]
Malaysia's Parliament on April 7, 2015 passed a tough anti-terror bill to deal with 'extraordinary' threats posed
by groups like Islamic state, a move denounced by opponents as a harsh blow for civil rights in the Muslim
majority country.
After 15 hours of heated debate, the Parliament passed the Prevention of Terrorism Bill' with 79 votes in favour
and 60 against it.
The bill that revived detention without trial will allow those involved or commissioned to carry out terrorist acts
to be detained for years and have their movements restricted
Opposition lawmakers, however, argued that some provisions in the bill were against human rights and civil
liberties
They compared it to the harsh Internal Security Act which was repealed in 2012.
US Approves Arms Worth $ 1 Billion for Pak
[Package meant to support Pakistan's counter-terrorism and counter-insurgency operations]
The Pentagon has notified US Congress about the state department's approval of a military arms package worth
nearly $ 1 billion for Pakistan, ostensibly in support of its counter-terrorism and counter-insurgency operations.
The list of arms and armaments notified for possible sale by the Defence Security Cooperation Agency (DSCA) in
its communication to Congress on April 6, 2015 includes 15AH-IZ Viper attack helicopters, 1000 AGM-114 R
Hellfire II missiles in containers, 32 T-700 GE 401C engines (30 installed and 2 spares) and 17AN/AAQ-30 Target
right systems.
The package also includes 30 629F-23 ultra high frequency/very high frequency communication systems, 19H764 embedded global positioning system/inertial navigation systems, 32 helmet mounted display/ optimized
top owl, 17 APX-117A identification friend or foe, 17 AN/AAR-47 missile warning systems, 17 AN/ALE-47
countermeasure dispenser sets, 18 AN/APR-39C(V)2 radar warning receivers, 15 joint mission planning systems,
and 17 M197 20mm gun systems.
The sale, worth $ 952 million according to Pentagon estimates, is expected to go through without a hitch even
though Pakistan lives a parlous, hand-to-mouth existenceand US lawmakers and officials periodically vent their
frustration about the country's two-timing, double-dealing ways in the war on terrorism and extremism
Pakistan Parliament Votes for Neutrality in Yemen
Pakistan's Parliament on April 10, 2015 voted not to join the Saudi-led military intervention in Yemen, dashing
Riyad's hopes for powerful support from outside of the region in its fight to halt Iranian-allied Huthi rebels.
Saudi Arabia had asked fellow Sunni-majority Pakistan to provide ships, aircraft and troops for the campaign to
stem the influence of Shia Iran in what appears to be proxy war between the Gulf's two dominant powers.
While Saudi Arabia has the sup-port of its Sunni Gulf Arab neighbours, Pakistan's Parliament voted against
becoming militarily involved
Obama, Castro Hold 'Historic' Meet
The leaders vowed to pursue their efforts to bury cold-war era enmity.
US President Barack Obama and Cuban President Raul Castro held the first face-to-face talks between US and
Cuban leaders since 1956 in Panama City on April 11, 2015, vowing to pursue their effort to bury Cold war
enmity.
Sitting together in a blue carpeted room, Obama thanked Castro for his 'spirit of openness and courtesy' during
their interactions while the Communist leader stressed that the negotiations will require patience
This is obviously a historic meeting," said Obama, who spoke first after they sat down in polished, wooden chairs
for their talks on the sidelines of the 35-nation Summit of the Americas in Panama City
Chinese President Xi Jinping's Visit to Pakistan : Launches $46 Billion Investment Plan in Pakistan
[Project aims at creating direct links between China and the Arabian Sea]
Chinese President Xi Jinping arrived in Islamabad, Pakistan on April 20, 2015 on his first visit to Pakistan. Mr. Xi
inaugurated a $ 46 billion investment plan in Pakistan on April 20 itself that aims to create direct links between
China and the Arabian Sea and boost the sluggish Pakistan economy.
Islamabad and Beijing hope that the China-Pakistan Economic Corridor (CPEC) will transform Pakistan into a
regional economic hub and bring growth to the restive western Chinese region of Xinjiang.
The corridor scheme is part of Beijing's "Belt and Road" plan to expand its trade and transport footprint across
Central and South Asia, while countering US and Indian influence.
The investments foresee the creation of road, rail and pipeline links that will connect China to the Arabian Sea,
cutting several thousand kilometres off the route that transports oil from the Middle East.
The upgrade will stretch 3,000 km from China's western city of Kashgar to the Pakistani port of Gwadar, control
of which was transferred to a Chinese public company in 2013
The two allies have enjoyed close diplomatic and military relations for decades, though economic ties have only
grown more recently. Bilateral trade crossed $12 billion last year compared to only $ 2 billion a decade earlier
Asian African Summit 2015 in Jakarta: India's External Affairs Minister's Interaction With Other Leaders
Asian African Summit was held in Jakarta in Indonesia. At the summit India's external affairs minister
SushmaSwaraj on April 22, 2015 expressed her views on various problems world is facing. She said that the
emergence of the terror group Islamic State in Iraq and Syria (ISIS) was a matter of grave concern and must be
countered as it challenges civilization. She was speaking at the ministerial meeting of the Asian African Summit
2015
ISIS seeks to establish a transnational Islamic caliphate. The group controls vast swathes of territory in several
countries in the Middle East including Iraq, Syria and Libya, destabilising the region
Swaraj raised the issue of maritime security saying threat of piracy remains despite action in Malacca Straits and
the Gulf of Aden.The Indian Ocean's importance as an active trade route will grow in the future. As we embark
upon the concept of Blue Economy as a new pillar of development, it becomes even more important to secure our
seas," she said
India was also engaging Africa under its flagship India-Africa Forum Summit, whose third edition would be held
in October this year
Japanese Prime Minister Shinzo Abe said, "Asian African nations are no loger Japan's aid recipients. They are
now Japan's partners for growth.
Chinese President Xi Jinping reiterated his country's focus on integrating and developing the economies of
Eurasia under the Silk Road initiative. China has deployed a $ 40 billion Silk Road fund, and has played a leading
role in forming the Asian Infrastructure Investment Bank (AIIB), which will be used to develop infrastructure
along the Asian leg under the "belt and road" plan
Sri Lanka, Pakistan sign nuclear agreement
Sri Lanka and Pakistan signed six agreements including one on atomic energy on April 6, 2015 the two countries'
leaders said, as the strategically important island looks to build its first nuclear plant. Details of the agreement
were not immediately available but it comes after Sri Lanka signed a pact with India in February to build its
atomic energy infrastructure, including training of personnel. Sri Lanka's new President MaithripalaSirisena
swept to power in January, ending a decade of rule by MahindaRajapakse, and has moved to reduce China's
influence in his country, which had irked India.
Pakistan, Russia to hold first-ever joint military exercises
Pakistan and Russia have agreed to hold first-ever joint military exercises as part of their enhanced defence
cooperation, in a sign of increasing bonhomie between the Cold War-era adversaries. The agreement was reached
during a meeting in Moscow between Pakistan defence minister KhawajaAsif and his Russian counterpart Sergei
Shoigu, Express Tribune reported.
Kazakhstan President Nazarbayev wins re-election
Kazakhstan's President NursultanNazarbayev extended his quarter-century rule over the oil-rich, ex-Soviet
republic with a crushing 97-7% of ballots in an election where opposition parties did not field a candidate,
officials said on April 27, 2015. Nazarbayev, who has run the huge Central Asian country since before the Soviet
breakup in 1991, will start a fifth term
South Korea, US strike new civiniuclear deal
South Korea and the United States agreed to a new nuclear cooperation pact on April 22, 2015 that stopped short
of granting Seoul the permission it had sought to start reprocessing spent nuclear fuel. But Seoul welcomed the
deal, saying it provided a framework for improving spent fuel management and boosting nuclear exports
Aahar Food Scheme Launched in Odisha
The Odisha government on April 1, 2015 launched Aahar Food Scheme to provide cooked food to the Urban
poorsat ?5 per meal. Chief Minister Naveen Patnaik launched the scheme on the occasion of UtkalDiwas (April 1)
the foundation day of Odisha in Bhubaneswar and Rourkela. The scheme has also been initiated in three more
cities of OdishaSambalpur, Berhampur and Cuttack and soon would be launched in the entire urban areas of
the state
Tamil Nadu Gets e-Panchayat Award 2014
Tamil Nadu has won the e-Panchayat Award for 2014 forcTeveloping a set of applications for better
administration of Panchayati Raj Institutions. Tamil Nadu's Rural Development and Panchayat Raj secretary
Gagan-deep Singh received the award, carrying a cash prize worth Rs. 20 lakh and a certificate from Prime
Minister NarendraModi in New Delhi on April 24.
Tamil Nadu has won the award for developing application form sets like PRIA Soft, Local Government
Directory, National Panchayat Portal, National Asset Directory and Plan Plus^J
NasimZaidi Appointed Next Chief Election Commissioner
Election Commissioner NasimZaidi was on April 9, 2015 appointed as the next Chief Election Commissioner
(CEC).
Zaidi will have a tenure upto July 2017 when he attains the age of 65
Raja Rajeshwari
Chennai-born Raja Rajeshwari, who came to America when she was 16, has become the first Person of Indian
Origin (PIO) to be named as a criminal court judge in New York city
Kim Jong-un Climbs North Korea's Highest Mountain
North Korean President Kim-Jong-un has scaled the country's highest mountain, state-run media said on April
19, 2015, arriving at the summit to tell troops that the hike provides mental energy more powerful than nuclear
weapons.
"Climbing Mt. Paektu provides pre-cious mental pabulum more powerful than any kind of nuclear weapon" Kim
said.
The 2,750-metre peak of the volcanic mountain.
Renowned Hindi Poet, KailashVajpeyi Passes Away
Renowned Hindi poet KailashVajpeyi passed away on April 1, 2015 in New Delhi. In the taxonomy of Hindi
writing poet he will remain an exotic creature. He was born in 1936 in Hamirpur in Uttar Pradesh and died at the
age of 79.
He was a visiting professor at theUniversity of Mexico from 1973 to 1976.He published Sankrant, his first
volumeof poems in 1964. He was awarded the prestigious VyasSamman by the K. K. Birla Foundation for
PrithviKaKrishna Paksh and the SahityaAkademi Award for Havn Mein Hastnkshar in 2009.
ChristapherBayly
ChristapherBayly, an eminent historian and teacher, whose work on colonial and post-colonial India has made
lasting imprint on the way India's past has been understood, died in Chicago on April 20, 2015.
Much of Professor Bayly's work was on 18th and 19th century India and on the transformation that colonialism
wrought on pre-modem societies and structures.
His early bookslike The Local Roots of Indian Politics : Allahabad 1880-1920 (1975); and Indian Society and the
Making of the British Empire (1988)soon became essential reading for history syllabi in undergraduate and
postgraduate courses,
Book The Birth of the Modern World : Global Connections and Comparisons 1780-19U (2004).
Professor Bayly was knighted in 2007 for his contribution to historical scholarship
Gunter Grass (1927-2015)
Germany's Nobel-winning author, Gunter Grass who acted as a moral compass for many in the post war nation
but later provoked criticism over his own World War-II past, died on April 13, 2015. He was 87.
The writer, one of Germany's most influential figures died in a hospital in the northern city of Lue beck
Mr. Grass achieved world fame with his debut and best-known novel The Tin Drum in 1959, quickly followed by
Cat and Mouse and Dog Years, all dealing with the rise of Nazism in his city of birth, Danzig, now Gdansk in
Poland.
He pressed Germany for decades to face up to its Nazi past, winning the Nobel Prize for Literature in 1999, when
the Swedish Academy said his "frolicsome black fables portray the forgotten face of history
Chinese President Xi Jinping Gets Pakistan's Top Civilian AwardNishan-e-Pakistan
Pakistan conferred its top civilian award 'Nishan-e-Pakistan, on Chinese President Xi Jinping for his immense
contribution to boost China-Pak bilateral ties. Pakistan's President MamnoonHussain felicitated Chinese
President Xi with the award on April 21, 2015 at the President House in an award ceremony which was attended
by Pak Prime Minister Nawaz Sharif, Federal ministers and Chinese delegation.
Nishan-e-Pakistan, was established on March 19, 1957. It is given by the Government of Pakistan for the
outstanding service to the country.
Pulitzer Prizes - 2015
The 99th Annual Pulitzer Prizes in Journalism, letters, Drama and Music were announced on April 20, 2015 at
Columbia University in New York. The New York Times won three Pulitzer Prizes. The NYT's Eric Lipton took
the prize for investigative reporting on the influence of lobbyists. The Post and Courier in Charleston, South
Carolina won the coveted award for public service journalism for an investigative series on why South Carolina
is among the deadliest states for women in the country. The Pulitzer for biography went to David Kertzer for
'The Pope and Mussolini : The Secret History of Plus XI and the Rise of Fascism in Europe'.
List of Pulitzer Prize Winners-2015
Journalism
Public ServiceThe Post and Courier, Charleston,
International ReportingThe New York Times Staff
CommentaryLisa Falkeneberg of The Houston Chronicle
Editorial CartooningAdam Zyglis of The Buffalo News
Books, Drama and Music
Fiction'All the Light We Cannot See' by Anthony Doerr
Drama'Between Riverside and Crazy' by Stephen AdlyGuirgis
History'Encounters at the Heart of the World
BiographyThe Pope and Mussolini : The Secret History of Plus XI and the Rise of Fascism in Europe' by David
I. Kertzer
Poetry'Digest' by Gregory Pardlo
General Nonfiction'The Sixth Extinction : An Unnatural History' by Elizabeth Kolbert
Sangakkara and Lanning Get WisdenHonours
Legendary Sri Lankan wicketkeeper-batsman Kumar Sangakkara has been named leading cricketer in the world
in 2015 by the prestigious Wisden cricketers Almanack. Sangakkara joined India's VirenderSehwag as the only
two players to have won the honour twice in their cricketing career. Sangakkaraturly deserved to be named
Wisden's leading cricketer in the world in 2015 as he amassed record 2,868 international runs in 2014 calendar
year including a triple century.
Australia's Meg Lanning won the inaugural 'Leading'woman cricketer in the world for 2015 by Wisdenthefirst
such award in the history of 152 continuous editionsof Wisden. Lanning led the Australian team to the WorldT20
Cup victory in 2014 as the captain.
Siddhartha GigooGets the 2015 Common-wealth Short Story Prize (Asia Region)
Srinagarborn novelist and short story writer Siddhartha Gigoo has been honoured with the 2015
Commonwealth Short Story Prize for Asia region for The Umbrella Man. Winning the coveted award, Gigoo got
2500 pounds as prize money and a chance to compete with the other four regional winners of the same award for
the 5000 pounds grand prize to be announced in London on September 8,2015.
The Garden of Solitude was the first novel by Gigoo published in 2011. Fall and other Poems (1994) and
'Reflections' (1995) are two poetry collections by Gigoo
16th Laureus World Sports Awards
Serbia's Novak Djokovic and Ethiopia's GenzebeDibaba won the world sportsman and sportswoman of the year
honours respectively at a glittering ceremony of the 16th Laureus World Sports Awards on April 15, 2015 at the
Shanghai Grand Theatre in Shanghai, China. Dibaba won the prestigious sports honour for her remarkable feat
of running to three would records in three different events in just two weeks
The List of the Awardees of the 16th Laureus World Sports Awards
World Sportsman of the YearNovalDjokovic (Serbia),
World Sportswoman of the YearGenzebeDibaba (Ethiopia)
World Team of the YearGerman men's Football teamj
World Sportsperson of the Year with a Disability Tatyana McFadden (USA)
Sports for Good AwardOliver Percovich (Australia)
Spirit of Sport Awardyao Ming (China)
Exceptional Achievement AwardbLi Na (China)
World Sports Academy InducteesSachin Tendulkar (India), TeglaLoroupe (Kenya) and Yao Ming, Yang Yang
and Li Xiaopeng (all China)
Global Education Report : UNESCO Report Lauds India's Progress
Universal access ensured, but quality remains a challenge
India has made remarkable strides towards ensuring education for all (EFA) a new global monitoring report
shows while access is close to universal, the quality of education remains a major challenge, the report says.
In April 2000, the governments of 164 countries adopted the Dakar Framework to deliver Education for All (EFA)
commitments by 2015. On April 9, 2015 the United Nations Educational, entific and Cultural Organisation
(UNESCO) published the Education for All Global Monitoring Report to evaluate the progress of countries on
those goals.
India is likely to reach the EFA's first goal of 80 per cent enrolment in pre-primary education by 2015, has already
reached the second goal of universal primary enrolment, and will fall just short of universal youth literacy by
2015, the report said
PROMISING PROSPECS
India has made progress towards improving the Quality of Education
Country
Gross enrolment Net enrolment
Youth literacy Adult literacy rate
ratio* 2012
ratio" 2012
rate 2015
2015
India
58
93
90
71
Bangladesh
26
92
83
62
Brazil
99
93
100
China
70
96
91
96
100
100
Russia
South Africa
77
85
99
94
World
54
89
91
86
India Ranks Lower than Even Nepal, Social Progress Index Puts Norway on Top, US at 16th Place
Out of 133 countries rated on indicators of well-being such as health, water and sanitation, personal safety, access
to opportunity, tolerance, inclusion, personal freedom and choice India has secured 101th place. This is lower
than India's rank, of 93, for GDP per capita income. Even Nepal and Bangladesh rank higher than India on the
Social Progress Index (SPI) ratings released globally on April 9, 2015. Norway has bagged the first rank; the US is
at the 16th place.
On the parameter 'Tolerance and Inclusion', India ranks 128th and is at the 120th place on 'health and wellness'
that, says economist and executive director of the SPI, Michael Green, is the toughest parameter for a country to
excel at. As a country becomes richer while tackling sanitation and water becomes easier, tougher challenges
emerge such as air pollution and obesity, Dr. Green said in an exclusive phone interview. The US despite its high
levels of spending on health and wellness ranks 68th
Three New Havens for Tigers
The Union Environment Minister PrakashJavedkar on April 21, 2015 said that in-principle approval has been
accorded by the National Tiger Conservation Authority (NTCA) for creation of three new tiger reserves, one in
Ratapani in Madhya Pradesh, another in Sunabeda in Odisha and the third in Guru Ghasidas in Chhattisgarh.
Also, the NTCA has accorded final approval to Kudre-mukh National Park (Karnataka) and Rajaji National Park
(Uttarakhand) being declared as tiger reserves by the respective States. Further, the State ' governments have
been advised to send proposals for declaring the following areas as tiger reserves : Suhelwa in Uttar Pradesh,
Mhadei in Goa, Srivilliputtur Grizzled Giant Squirrel/Megamalai Wildlife sanctuaries/Varusha-nadu Valley
(Tamil Nadu), Dibang (Arunachal Pradesh) and Cauvery-MM Hills (Karnataka)
Massive Earth quake Hits Nepal and Parts of India
A massive earthquake rocked Nepal and parts of India on April 25, 2015. The intensity of the quake in Nepal on
the Richter scale was measured at 7-9 while the north western and eastern India received quake of a lower
intensity of about 5-4. There was widespread damage of life and property in Nepal. The death till crossed over
4,000 people with the injured numbering several thousand. As many as 72 people died in Indian states including
West Bengal, Bihar and Uttar Pradesh
There were rescue and relief operations launched by India on a massive scale. It extended an all out support with
men and material to the people of Nepal. The steps taken by the Indian Government were lauded by one and all
including the opposition parties. India stepped up its on going rescue and relief efforts in Nepal under its
support Operation Maitri, dispatching more medical aid, relief material and personnel to restore power supply,
rebuild infrastructure and connectivity and evacuate people. An inter-ministerial team of top officials headed by
an additional secretary in the ministry of Home, reached Nepal to coordinate relief operations. International aid
was also coming to Nepal for relief, rescue operations. It may be noted that large buildings in Kathmandu were
totally devastated, burying thousands of people under the debris. The scenario in outer parts of Nepal was also
reported to be serious. Even Mt. Everest received heavy jolt jeapardizing life of many mountaineers.
Japan's Maglev Train Sets New World Speed Record
Japan's state-of-the-art Maglev train set a new world speed record on April 21 in a test run near mount Fuji,
hitting a top speed of 603 km an hour. The seven car maglev trainshort for 'magnetic levitation' successfully
managed nearly 11 seconds at over 600 kph. The new speed record came less than a week after the company
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recorded a top speed of 590 kph, breaking its own 2003 record of 581 kph. The maglev hovers 10 cm above the
tracks and is propelled by electrically charged magnets. If this train becomes a reality, the journey time between
Tokyo and Osaka will remain just one hour and seven minutes, slashing the present journey time by half
Rajaji National Park Notified as Tiger Reserve
Uttarakhand on April 18 got its second tiger reserve after the Corbett Tiger Reserve when the Centre government
notified the Rajaji National Park as the Rajaji Tiger Reserve. The area declared as the tiger reserve (1075T7 sq km)
includes the 255-63 sq km of the Rajaji National Park's buffer zone. The Rajaji Tiger Reserve is the 48th tiger
reserve of the country. The new tiger reserve in Uttarakhand will further promote the tiger conservation
campaign in Uttarakhand whose record in tiger conservation in past five years has been commendable. It
increased its tiger population almost 50 per cent taking the wild cats number in the state to 340.
After Karnataka, Uttarakhand has the highest number of tigers.
Kyle Mills Takes Retirement from Cricket
New Zealand pace bowler Kyle Mills took retirement from all forms of cricket on April 1, 2015, joining another
New Zealand cricket great Daniel Vettori to call it a day after world cup final on March 29, 2015
Vettori Bids Adieu to ODI Cricket
Veteran left arm spinner and former New Zealand skipper Daniel Vettori on March 31 announced his retirement
from one day international cricket, completely ending an 18-year cricket career. Vettori made the announcement
of his ODI retirement soon after the New Zealand team landed in Auckland from Australia following a sevenwicket loss in the ICC World Cup-2015 final in Melbourne, Australia on March 29. Vettori is the ninth player of
the world to scalp more than 300 wickets in Tests and ODIs
New Zealand Clinches Sultan Azlan Shah Cup, India Takes Bronze
New Zealand clinched the prestigious Sultan Azlan Shah Hockey Cup, beating world champion Australia 3-1 on
the penalty shootout in Ipoh on April 12, 2015. Both the finalists tied with 2 goals in each side after the regular
time. The penalty shootout was taken to decide the champion and Kiwi goalkeeper Devon Manchester rose to the
occasion as he saved some beautiful penalty shots to pave way for his team's title victory. It is the second Azlan
Shah title of New Zealand.
Asiad Champion India claimed the bronze medal in this Azlan Shah Cup as it beat South Korea 4-1 on the
penalty shoot out for the third place in the tournament. Both the teams tied on 2-2 in the regular time. Then India
beat Korea in the penalty shootout. NikkinThimmaiah and Satbir Singh scored goals for India in regular time
Serena and Djokovic Win Miami Masters Titles
Serena Williams registered a straight set victory (6-2, 6-0) over Spain's Carla Suarez Navarro in the final on April
04 at Key Biscayne in Miami to win her eighth Miami Open Women's Singles Crown and third in a row. By
winning the Crown Serena became the fourth woman in the open-era of tennis history to clinch the same WTA
tournament eight times or more after Martina Navratilova, Chris Evert and Steffi Graf
Sania-Hingis Win WTAFamily Circle Doubles Title,Sania Becomes NumberOne Tennis Player
SaniaMirza on April 12, 2015 scripted history by becoming the first woman tennis player from India to achieve
the world No. 1 ranking in doubles after her stupendous title win at the WTA Family Circle Cup with partner
Martina Hingis of Switzerland in Charleston (USA).
The top-seeded pair of Sania and Hingis easily sailed through the challenge of Casey Dellacqua and DarijaJurak
6-0, 6-4 in just 57 minutes in a lop-sided final of the $ 731,000 clay court event.
Before Sania, only Leander Paes and Mahesh Bhupathi had achieved the top ranking when they dominated the
men's doubles circuit in the last 1990s.
It is Sania's third successive title with Hingis and the pair has been unbeaten since joining forces in March, this
year. They won the title in Indian Wells, their first tournament together, and followed it up with a victory at
Miami.
Yuki Bhambri Claims ITF Men's Futures Title
India's Yuki Bhambri clinched the $ 15,000 ITF Men's Futures tennis tournament, beating third-seed
DzmitryZhyrmont of Belarus 6-2, 6-4 in the final on April 11, 2015 in Karshi, Uzbekistan. He secured 27 ATP
points with this title triumph. It was the 11th Futures title for the 22-year-old Yuki who had recently made the
final of the Delhi Open. He has also clinched three challengers title.
Anton Aditya Elected the President of Badminton Asia Confederation
Indonesia's Anton AdityaSubowo was unanimously elected as the President of Badminton Asia Con-federation
(BAC) during the continental badminton body's general election in Wuhan, China on April 25, 2015. Subowo will
replace Malaysia's Mohd. Nadzmi Bin Mohd.Salleh on this post.
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Badminton Association of India (BAI) President Dr. Akhilesh Das was elected the Vice-President of BAC for a
four year term as he secured 24 votes out of 31 in his support.
BadmintionAsia Championship, 2015 Resuits
Category/Competition
Winner
Runnerup
Result
Men's Singles
Lin Dan (China)
TianHouwei (China) 2119, 218
Women's Singles
RatchanokIntanon
Li Xuerui (China)
2022, 2321,
(Thailand)
2112
Men's Doubles
Women's Doubles
Mixed Doubles
Lee Yong Dae and Yoo

YeonSeong (South
Korea)
Ma Jin and Tang
Yuanting (China)
Tontowi Ahmad and
LiliyanaNatsir (Indo
nesia)
Mohammad Ahsan
and HendraSetiawan
(Indonesia)
Wang Xiaoli and Yu
Yang (China)
Lee Chun Hei and
Chau Hoi Wah (Hong
Kong)
1821, 2422,
2119
2112, 2112
2116, 2115
Mundra Bank
The Micro Units Development and Refinance Agency (known as the MUDRA Bank) has been launched on April
8, 2015 which would primarily be responsible for regulating micro and small enterprise financing business, and
supporting them. The roles envisaged for MUDRA include laying down policy guidelines for micro enterprise
financing business and registration of MFI entities as well as their accreditation and rating.
Prime Minister NarendraModi launched the Rs. 20,000 crore 200 billion) MUDRA Bank that aims to provide
refinancing to small and medium enterprises, particularly those belonging to members of scheduled castes and
scheduled tribes. According to NarendraModi, the bank would help over six crore families. The bank would also
get an additional Rs. 3,000 crore (Rs. 30 billion) in the budget to create a credit guarantee corpus for guaranteeing
loans being provided to the micro enterprises.
MUDRA Bank will offer loans under three schemes-Shishu-uptoRs. 50,000, KishoruptoRs. 5 lac and TarunuptoRs
10 lac-based on stage of micro business. MUDRA Bank will also register MFIs and be responsible for
accreditation and rating of MFI. It will also lay down policies for proper last mile practices to be followed by MFI
to prevent indebtedness and provide proper client protection.
Important features of MUDRA Bank can be summed up as follows :
MUDRA Bank stands for Micro Units Development Refinance Agency (MUDRA). Also, Mudra, in Hindi,
means currency.
MUDRA Bank is being set up through a statutory enactment and will be responsible for developing and
refinancing through a PradhanMantri MUDRA Yojana.
Since small entrepreneurs are businesses are often cut off from banking system because of limited branch
presence, MUDRA Bank will partner with local co-orcfinators and provide finance to 'Last Mile
Financiers' of small/micro businesses.
MUDRA has been targeted towards mainstreaming young, educated or skilled workers and
entrepreneurs including women entrepreneurs.
The bank will cater to 5-77 crore small business units that are spread all across India who currently find it
difficult to access credit from the regular banking system.
MUDRA Bank will ensure clients are properly protected and will lay down principles and methods of
loan recovery in case of a default. The Bank will also rigidly follow 'responsible financing practices' so
deter borrowers from indebtedness.
The Bank will be set up with a corpus of Rs. 20,000 crore and a credit guarantee fund of Rs. 2,000 crore.
The Bank will nurture small businesses through different stages of growth and development of
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businesses termed as Shishu, Kishor and Tarun.
Shishu: This is the first step when the business is just starting up. The loan cover in this stage will be
uptoRs. 50,000.
Kishor : In this stage, the entrepreneur will be eligible for a loan ranging from Rs. 50,000 to Rs. 5 lakh.
Tarun: This last and final category will provide loans for uptoRs. 10 lakh.
Foreign Trade Policy 2015-20

The government on April 1, 2015 unveiled the Foreign Trade Policy (FTP) for 2015-20, seeking to strengthen
merchandise and services exports with a targeted value of $900 billion by 2020. The new FTP sought to
consolidate all previous export incentive schemes under two: Merchandise Exports from India Scheme (MEIS)
and Services Exports from India Scheme (SEIS).
The MEIS will be targeted for export of specified goods to specified markets and SEIS is meant for export of
notified services in place of a plethora of schemes earlier.The MEIS has replaced five existing schemes: Focus
Products Scheme, Market-linked Focus Products Scheme, Focus Market Scheme, Agriculture Infrastructure
Incentive Scrips and VisheshKrishiGrameenUdyogYojana (VKGUY).On the other hand, SEIS has replaced the
existing Served From India Scheme (SFIS). The rates of rewards under MEIS will now range from 2 per cent to 5
per cent, from the 2-7 per cent range earlier. On the other hand, under SEIS these will be from 3 per cent to 5 per
cent, from the 5-10 per cent range earlier.
The major highlights of the Foreign Trade Policy :
Aiming to nearly double India's exports of goods and services to $900 billion by 2020, the government has
announced several incentives in the five-year Foreign Trade Policy for exporters and units in the
Special Economic Zones.
Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS) are to be
introduced to boost outward shipments.
Increase exports to $ 900 billion by 2019-20, from $ 466 billion in 2013-14.
Raise India's share in world exports from 2% to 3-5%.
Chapter-3 incentives extended to units located in SEZs.
Export obligation under EPCG scheme reduced to 75% to Promote domestic capital goods manufacturing.
FTP to be aligned to Make in India, Digital India and Skills India initiatives.
Duty credit scrips made freely transferable and usable for pay-ment of custom duty, excise duty, and
service tax.
Export promotion mission to take on board state Governments.
Unlike annual reviews, FTP will be reviewed after two-and-Half years.
Higher level of support for export of defence, farm Produce and eco-friendly products.
Real Estate (Regulation and Development) Bill 2013
Prime Minister NarendraModi's governmenthas approved changes to a Bill that seeks to regulate the country's
property market, notorious for black money and delayed possessions. The Real Estate (Regulation and
Development) Bill, 2013 is aimed to protect the interest of consumers from errant developers and ensure timely
execution of projects.
Highlights of the Bill:
The Bill regulates transactions between buyers and promoters of residential real estate projects. It establishes
state level regulatory authorities called Real Estate Regulatory Authorities (RERAs). 9 Residential real estate
projects, with some exceptions, need to be registered with RERAs. Promoters cannot book or offer these projects
for sale without Registering them. Real estate agents dealing in these projects also rreed to register with RERAs.
On registration, the promoter must upload details of the project on the website of the RERA. These include the
site and layout plan, and schedule for completion of the real estate project.
70% of the amount collected from buyers for a project must be maintained in a separate bank account and must
only be used for construction of that project. The state government can alter this amount to less than 70%.
The Bill establishes state level tribunals called Real Estate Appellate Tribunals. Decisions of RERAs can be
appealed in these tribunals
RBI Notifies Hike in FDI Cap in Insurance Sector
The Reserve Bank of India (RBI) has notified the government's decision to raise Foreign Direct Investment (FDI)
13
limit in the insurance sector to 49 per cent from 26 per cent.

According to RBI's notification, the extant FDI policy for insurance sector has since been reviewed and further
liberalized and thus with immediate effect, FDI in insurance sector shall be permitted up to 49 per cent subject to
the revised conditions. According to the guidelines, for FDI upto 26% is permitted through automatic route while
beyond 26 per cent and up to 49 per cent, government approval is needed.
With this, it has included a new term 'Other Insurance Intermediaries appointed under the provisions of
Insurance Regulatory and Development Authority Act, 1999' under the definition of 'Insurance'.
According to RBI, an Indian insurance company shall ensure that its ownership and control remains at all times
in the hands of resident Indian entities. Any increase of foreign investment of an Indian insurance company shall
be in accordance with the pricing guidelines specified by the Reserve Bank under the Foreign Exchange
Management Act, 1999
RBI's Forex Reserves Climb to All-Time High of $343 billion
The Reserve Bank of India'sforeign exchange reserves hit an all-time high of $ 343-201 billion for the week ending
April 17, 2015.
This is the first time in 2015-16 that the reserves touched an all-time high. Foreign currency assets, a key
component, rose to $ 318-859 billion. The reserves have been rising because the Central Bank has been mopping
dollar flows through state-run banks. During the week, gold reserves valued at $ 19-038 billion.
Special Drawing Rights rose to $ 4-005 billion, while India's reserve position with the International Monetary
Fund was $ 1-29 billion
India's Foreign Trade (Merchandise) 2014-15
Ministry of Commerce has released the data of country's foreign trade. The cumulative value of exports for the
period April-March 2014-15 was US $ 310533-87 million 1897025-85 crore) as against US $ 314415.73 million (Rs.
1905011-08 crore) registering a growth of - 1.23 per cent in Dollar terms and growth of - 0-42 per cent in Rupee
terms over the same period last year.
Cumulative value of imports for the period April-March 2014-15 was US $ 447548.33 million (Rs. 2734049.06
crore) as against US $ 450213.63 million (Rs. 2715433.89 crore) registering a growth of - 0.59 per cent in Dollar
terms and growth of 0.69 per cent in Rupee terms over the same period last year.
Oil imports during April-March, 2014-15 were valued at US $ 138261.66 million which was 16-09 per cent lower
than the oil imports of US $ 164770.33 million in the corresponding period last year.
Non-oil imports during April-March, 2014-15 were valued at US $ 309286-67 million which was 8-35 per cent
higher than the level of such imports valued at US $ 285443-30 million in April-March 2013-14.
The trade deficit for April-March 2014-15 was estimated at US$ 137014-46 million which was higher than the
deficit of US $ 135797-90 million during April-March 2013-14.
India Tops in Remittances, Receives $ 70 billion Says World Bank
According to World Bank, India continues to be the leading nation in remittances pulling in $ 70 billion from its
global migrant workforce in 2014. World Bank's study of remittance, the money workers and professionals
working in foreign lands send back to their native countries, attributed this mainly to weak economic growth in
Europe, deterioration of the Russian economy and the depreciation of the euro and ruble.
Remittances to the developing world are expected to reach $ 440 billion in 2015, an increase of 0-9 per cent over
the previous year. Global remittances, including those to high income countries, are projected to grow by 0-4 per
cent to $ 586 billion.
As per projections of the World Bank, the remittances to the developing world are expected to reach $ 440 billion
in 2015, an increase of 0-9 per cent over the previous year.
United States, Saudi Arabia, Germany, Russia and the United Arab Emirates (UAE) remained the top five
migrant destination countries .and apart from India, China, Philippines, Mexico and Nigeria are the top five
remittance recipient countries, in terms of value of remittances, the report said. Total remittances in 2014 reached
$ 583 billion. India received $ 70 billion, China $ 64 billion, the Philippines $ 28 billion.
India Slips to 89th Place in Global Networked Readiness Index
In the 143-nation list, prepared by World Economic Forum (WEF), Indiahas slipped six places to rank 89th on a
global Networked Readiness Index, showing a 'widespread' weakness in its potential to leverage information
and communications technologies for social and economic gains. This shows the improvement in India's business
and innovation environment, infrastructure and skills availability. Singapore has replaced Finland on the top of
the list.
However, India has been ranked on the top globally on a sub-index for competition and affordability. Overall,
14
India was ranked 83rd last year, and even better at 68th position in 2013
In WEF view, the major areas that need improvement are the country's business and innovation environment
(115th out of 143), infrastructure (115th) and skill availability (102nd).
In the top 10, Singapore is followed by Finland, Sweden, the Netherlands, Norway, Switzerland, the US, the UK,
Luxembourg and Japan, which has climbed an impressive six places year-on-year to 10th position
Govt. Retains GPF Rate at 8-75% for 2015-16
The government has retained the rate of interest for General Provident Fund (GPF) and other related schemes at
8-7 per cent for the current fiscal year 2015-16.
The 8-7 per cent interest will apply on Provident Funds of central government employees, railways and defence
forces, according to the notification issued by the Finance Ministry. The rate of interest will be effective from
April 1, 2015.
The interest rate for GPF is in line with the interest rate fixed for Public Provident Fund (PPF) at 8-7 per cent for
2015-16. j
Super-computing Mission
The government of India approvedlaunch of National Supercomputing Mission to connect national academic
and R&D institutions with a grid of over 70 high-performance computing facilities at an estimated cost of Rs.
4,500 crore. The Cabinet Committee on Economic Affairs, chaired by Prime Minister NarendraModi, has
approved the launch of the mission on April 1, 2015 that will enable India to leapfrog to the league of world-class
computing power nations, an official release said.
73 supercomputers will be installed in different parts of the country and all will be linked by a computer grid.
The expected cost of the project is about Rs. 4,500 crore in which Rs. 2,800 crore will be contributed by the
Ministry of Science and Technology and the rest, aboutRs. 1,700 crore will be shared by Ministry of
Communication and IT.
It envisages empowering academic and R&D institutions spreadover the country by installing a vast
supercomputing grid comprising of more than 70 high-performance computing facilities.
The Mission supports the government's vision of 'Digital India' and 'Make in India' initiatives.
These supercomputers will also be networked on the National Supercomputing grid over the National
Knowledge Network (NKN).
The NKN is another programme of the government which connects academic institutions and R&D labs
over a high speed network.
Academic and R&D institutions as well as key user departments/ ministries would participate by using
these facilities and develop applications of national relevance.
The Mission also includes development of highly professional High Performance Computing (HPC)
aware human resource for meeting challenges of development of these applications
Task-force for Identification of Poor

A task-force headed by NITI Aayog Vice-Chairman ArvindPanagariya will soon come up with a new
methodology to estimate the number of poor in the country. The other members of the task force include
BibekDebroy, who is a permanent member of the NITI Aayog, noted economist SurjitBhalla and Chief Statistician
T.C.A. Anant. The secretaries of 5 central ministries, director-general of the Unique Identification Authority of
India and two advisers from the NITI Aayog too are part of the panel.
The 14-member task-force will develop a working definition of poverty and prepare a roadmap for its
elimination. Besides, the panel will also suggest strategies and anti-poverty programmes, including reforms of
the existing ones.
Earlier, the UPA government had set up C. Rangarajan committee to rework the poverty line, which was based
on the methodology provided by Suresh Tendulkar panel.However the new government has not officially
accepted its recommendations
PM Increases Compensation for Crop Damage by 50%
Prime Minister NarendraModi on April 8, 2015 announced a 50 per cent increase in compensation to farmers for
15
damage to their crop because of untimely rainfall and other such causes. Also, the eligibility criterion for this was
lowered from loss of 50 per cent of potential crop to 33 per cent.The move comes when untimely rain and hail
have destroyed standing rabi crops and there is resentment among farmers over the government's land
acquisition Bill.
Earlier, farmers could seek compensation of Rs. 4,500 a hectare, or Rs. 9,500 a hectare, orRs. 12,000 a hectare,
depending on the crop sown and the nature of land, only if they lost 50 per cent of their crop because of natural
calamities. Now, they will get Rs. 6,750, Rs. 14,250 or Rs. 18,000 a hectare, if the crop loss is at least 33 per cent.
Central Panel for Revamp of MSP Calculation
The committee constituted, under the chairmanship of Ramesh Chand, director of the National Institute for
Agricultural Economics and Policy, Delhi, by the Union Agriculture Ministry to examine the mandate of the
Commission for Agricultural Costs and Prices (CACP) and various aspects of fixation of Minimum Support Price
(MSP) has submitted its report.
CPI Basket Weights Revised, Base Year Changed from 2010 to 2012
The government of India has revised the base year of the All India Consumer Price Index series from 2010 : 100 to
2012 : 100 starting with the January 2015 reading. The first date based on the revised series was released on
February 12, 2015. The weights of the sub-components within the new CPI basket are based on the Consumer
Expenditure Survey (CES) of 2011-12, against the old/ current basket individual weights based on CES of 200405.
In addition, the number of items has also been increase from 437 to 448 in the rural basket and from 450 to 460 in
the urban basket.
Compared with the old basket, the weights of the food and fuel groups have been reduced in the new basket.
Meanwhile, the weights of the miscellaneous and clothing, bedding and footwear groups have been increased.
With these changes, the weight of the Core group (CPI ex-food and fuel) will rise to 47.3% from 42.9% earlier
Govt to Kickstart its 1,00,000 MW Solar Energy Plan Soon
Central Government is considering starting its plan to build a 100,000 MW solar energy capacity by 2022 through
award of 10,000 MW projects in the coming three months.The plan includes
1.
6,000 MW of capacity to be set up byNTPC
2.
2,500 MW by Solar Energy Corporation
3.
2,500 MW in Madhya Pradesh and the rest as solar energy parks in several other states
NTPC would build 3,300 MW of its own projects and tender 3,000 MW under the power bundling scheme. NTPC
plans to harness 25,000 MW of solar power in six years. Of this, it has committed to building 10,000 MW itself.
The balance it will tender to private players and bundle with unutilised thermal power and sell at an average
rate. NTPC's plan has two solar parks - 1,500 MW in Anantpur, Andhra Pradesh; and 1,000 MW in Coonoor,
Tamil Nadu.
Solar Energy Corporation of India (SECI), a fully owned subsidiary of the ministry of new and renewable energy,
will tender out 2,000 MW of projects, likely by next month. 'Tt will go to the Cabinet in a fortnight. All plans are
in place and the ball will be set rolling for centrally awarded solar projects once approvals come," said a senior
executive of SECI.
SECI is also about to sign a joint venture agreement with the Madhya Pradesh government to develop India's
first solar ultra mega power plant, of 750 MW at Rewa India's current solar capacity is 3,382 MW and the amount
commissioned under the solar mission is 1,112 MW. The current government revised upwards the target for the
Jawaharlal Nehru National Solar Mission by five times. It aims to have in place 100,000 MW of solar capacity by
2022, including by foreign investment. States are also awarding projects. MP leads with 2,500 MW. Others to
issue tenders soon are Telangana, Tamil Nadu and Andhra Pradesh. Rajasthan is studying a model for
harnessing solar power on a large scale in desert areas.'
16
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English Current Affairs June 2015

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