Flipkart

Sunday, 1 February 2015

Daily News Mail

Sushma's China visit will test India's multi-vectored diplomacy
  • External Affairs Minister Sushma Swaraj has arrived in Beijing to insulate and advance a growing economic relationship with China, from the headwinds of competing geopolitical interests in the Indian Ocean and the Asia-Pacific.
  • Observers point out that an expansion of Chinese investments is crucial for Prime Minister, Narendra Modi’s “Make in India” campaign, aimed at boosting manufacturing in India. Ms. Swaraj is expected to meet top Chinese investors. China is investing in two major industrial parks in India, focused on manufacturing automobile parts and electrical equipment. The Chinese are also set to conduct a feasibility to establish a New Delhi-Chennai high-speed railway link.
  • China has already trained two batches of Indians in its railway academy in Beijing. Ms. Swaraj’s visit is also seen as preparation for Prime Minister Modi’s visit to China later this year.The Prime Minister is expected to visit Kailash Mansoravar, which has now been connected by a new route through Nathu La in Sikkim.
  •  New Delhi is in a good position to leverage its relationship with the U.S. to move into strategic areas of cooperation with China and Russia.
  • There will also meeting of Russia-Indian-China (RIC) grouping, and a dinner hosted by Mr. Wang.
  • China has invited India to join its 21st Century Maritime Silk Road, but New Delhi is biding its time before making a firm commitment. However, India has become a staunch supporter of China-initiated, Asia Infrastructure Investment Bank, which is also likely to be used for funding MSR projects.Ms. Swaraj is expected to discuss in greater detail with her hosts, the Bangladesh-China-India-Mynamar economic corridor.
Canister-firing of Agni-V missile successful
  • The flight-trial of the country’s Inter-Continental Ballistic Missile (ICBM), Agni-V, from a canister(Shot or bullets packed in a metallic cylinder, to be fired from a cannon; case shot; shrapnel) was a grand success on 31st January, marking another technological milestone in the strategic missile programme.
  • At 8.09 a.m., the missile smoothly shot out of the confines of a canister mounted on a TATRA truck on the Wheeler Island, off the Odisha coast, and traversed its full range of more than 5,000 km before plunging into the Indian Ocean.
  • The missile was launched in its final, deliverable configuration. It can carry a nuclear warhead weighing 1.1 tonnes. This is the third success in a row for Agni-V but it is the first time that it is being launched from a canister. A canister launch means it can lift off from a truck on roads or open spaces anywhere. 
  • The Defence Research and Development Organisation (DRDO) developed the 50-tonne, 17-metre-long, three-stage missile.
  • A happy Avinash Chander, Scientific Adviser to Defence Minister and DRDO Director General, called it “India’s first-ever ICBM launch from a canister and a giant leap in the country’s deterrence capability.”
  • With its range of 5,000 km, the missile can reach a vast portion of China and Europe.

General Knowledge

Grand central terminal railway,Park Avenue,New York is the world's?
Largest railway station 

Garmapani centuries is located in ?
Diphu, Assam

Hitler party which came into power in 1933 is known as ?
Nazi party 

FCC stands for ?
Film finance corporation

Exposure to sunlight helps a person improves a health?
The ultraviolet ray converted skin oil into vtiamin D

First Afghan war took placed in ?
1893

For the Olympic and World tournaments, the dimension of basketball court are?
28 m x 15 m

Famous sculpture depicting art of love built some time in 950 AD- 1050 AD
Kajuraho tempel 

Film and TV institute of India is located in ?
Pune (Maharastra)

Guru Gobind Singh was ?
10th Guru of Sikhs

During world war - 2 when did Germany attacked France?
1940

In which year of world war Germany declared war on Russia and France ?
1914

India has largest deposit of which mineral in world?
Mica

How many Lok Sabha seats belongs to Bihar ?
40

Daily News Mail

Sri Lanka appoints Tamil as Chief Justice

  • Sri Lanka’s President Maithripala Sirisena on Friday appointed a Tamil judge as the country’s Chief Justice, the first member of the minority community to hold the post in more than two decades.
  • K. Sripavan (62) was sworn in on 30 January, ending a crisis in the Supreme Court triggered by the sacking of former Chief Justice Shirani Bandaranayake two years ago.

Daily News Mail

CIL floor price fixed at Rs.358

  • The government, on 29 January, fixed the floor price at Rs.358 a share for the stake sale in Coal India Ltd. (CIL). The offer for sale opens on Friday.
  • The government has the option of a divestment of up to 10 per cent, depending on the response to the initial five per cent on offer. Expectedly, the trade unions have given a thumbs down to this sale, which is expected to garner around Rs.22,000 crore to the exchequer if the 10 per cent sale goes through.
  • The government is selling 31.58 crore shares, or 5 per cent stake, in a public offer with an option to sell another 5 per cent through the offer for sale (OFS) or the auction route. CIL has reserved 20 per cent shares for retail investors, who will also get 5 per cent price discount. The company was listed through a record initial public offering (IPO) in November, 2010, raising Rs.15,199 crore. At the IPO price of Rs.245 a share, the issue was over subscribed 15 times. The price had zoomed to Rs.287.75 soon after listing.
  • Analysts, however, refused to read too much to this round of divestment, saying that this did not help small investors, as this was not a market transaction. “Entities like LIC will pick up a chunk of the shares,” an analyst said, speaking on condition of anonymity
  • Trade unions said they would launch a ‘symbolic protest’ on the day of share sale before chalking out their future course of action. In a release issued here on 29 January, S. Q. Zama of INTUC said this move violated the assurances given to them by the Union Coal Minister on the basis of which the five-day strike by five Central TUs earlier this month was called off on the second day.
  • Shares of CIL ended over 2 per cent lower on Thursday, wiping out Rs.5,620.59 crore from its market valuation. After falling 5 per cent to Rs.364.60 in intra-day trade at the BSE, CIL shares ended at Rs.375.15, down 2.32 per cent from its previous close. At the NSE, it settled with a loss of 1.43 per cent .

  • What is Offer for Sale ?
    Offer for Sale (OFS) is another form of share sale, very much similar to Follow-On Public Offer (FPO). OFS mechanism facilitates the promoters of an already listed company to sell or dilute their existing shareholdings through an exchange based bidding platform.

    Except the promoters of the company, all market participants like individuals, mutual funds, foreign institutional investors (FIIs), insurance companies, corporates, other qualified institutional bidders (QIBs), HUFs etc. can bid/participate in the OFS process or buy the shares. The promoters of the company can only participate as the sellers in the process.

    Daily News Mail

    3G auction: Cabinet nod for Rs. 3,705 cr. as base price

    • The Cabinet has decided on a reserve price of Rs. 3,705 crore per MHz for the 2100 MHz band for the spectrum auctions, Telecom Minister Ravi Shankar Prasad said here on 28th January.
    • The Minister said the government had decided to accept the Telecom Commission’s recommendation to price the 3G spectrum at that price for the March 4 auction. The base price suggested by the Commission is around 11 per cent higher than what telecom firms paid for in the 2010 sale. It is also 36 per cent higher than Telecom Regulatory Authority of India’s recommendation.
    • “There is no spectrum deficit in the country. What is available is being released. The government believes it is adequate. When more is needed it will be released and auctioned. At the reserve price for the amount of spectrum being auctioned should fetch the government at least Rs. 80,000 crore.”
    What is 3G ?

    3G, short form of third generation, is the third generation of mobile telecommunications technology. This is based on a set of standards used for mobile devices and mobile telecommunications use services and networks that comply with the International Mobile Telecommunications-2000 (IMT-2000) specifications by the International Telecommunication Union. 3G finds application in wireless voice telephony, mobile Internet access, fixed wireless Internet access, video calls and mobile TV.

    3G telecommunication networks support services that provide an information transfer rate of at least 200 kbit/s. Later 3G releases, often denoted 3.5G and 3.75G, also provide mobile broadband access of several Mbit/s to smartphones and mobile modems in laptop computers. This ensures it can be applied to wireless voice telephony, mobile Internet access, fixed wireless Internet access, video calls and mobile TV technologies.

    A new generation of cellular standards has appeared approximately every tenth year since 1G systems were introduced in 1981/1982. Each generation is characterized by new frequency bands, higher data rates and non–backward-compatible transmission technology. The first 3G networks were introduced in 1998 and fourth generation "4G" networks in 2008.

    3G Bands in India
    2G capabilities - GSM 900, GSM 1800
    3G capabilities - UMTS 2100
    4G capabilities - LTE 2300

    Jaishankar is Foreign Secretary
    • In a surprise move, the government has appointed S. Jaishankar as the new Foreign Secretary, replacing Sujatha Singh about seven months before her tenure comes to an end.
    • Sources say Mr. Jaishankar has been chosen for his role in rebuilding Indo-U.S. ties after the Devyani Khobragade incident, capped by the visit of U.S. President Barack Obama to Delhi this week.
    • Senior officials told that Prime Minister Narendra Modi had been impressed by Mr. Jaishankar’s handling of his visit to the U.S. in September and had been keen to retain him. He was due to retire on January 31, which pushed the timing of the decision.

    Daily News Mail

    “socialist, secular” inserted in Preamble— introduced through the 42nd Constitution Amendment Act in 1976.

    A new chapter of openness

    • Barack Obama dwelt in his farewell speech on all the similarities between the two nations: as diverse, multi-religious, tolerant democracies that respect human rights.Over the last three days, he made a much more vivid enunciation of where the future of India-U.S. ties lies as well. From the joint statement, to a declaration of friendship, to a strategic vision for the Asia-Pacific region, rarely has the state-of-play between New Delhi and Washington been so clearly mapped out during any Indo-U.S. 
    • The vision statement on the Asia-Pacific and Indian Ocean region is likely to have a more lasting impact on relations with China, as it seeks to portray an India-U.S. front against diplomatic, economic and security challenges in the region.
    • Meanwhile, as the euphoria from the successes of the visit subsides, Mr. Modi will need to explain domestically just how he was able to achieve the visit’s biggest “breakthrough”: on nuclear issues. For the past six years, India and the U.S. have been unable to conclude the “administrative arrangements” that would enable commercial cooperation between Indian and American companies under the civil nuclear deal.
    • On the business side, there were no significant outcomes to talk about except for the resolve to expand trade ties and a $4-billion commitment from the U.S. in investment and loans. To put this in perspective, Mr. Modi returned with a $35-billion investment commitment from Japan when he visited Tokyo last year. Ironically, half of the investment committed by Mr. Obama will go into the renewable energy sector where the U.S. and India are locked in a trade dispute at the WTO. The dispute is over India’s imposition of local content requirements on solar cells and modules as part of the projects awarded under the Jawaharlal Nehru National Solar Mission. The U.S. is also unhappy with the Make in India policy, especially in the renewable energy sector where it sees great prospects for its own companies. It remains to be seen how much of the investment committed by Mr. Obama actually happens, given that it is linked to Indian companies sourcing technology and products from the U.S.
    •  If the Indian IT sector was hoping for an agreement on the issue of H1B visas, then it must be disappointed for Mr. Obama did not go beyond giving an assurance that the U.S. would look into all aspects as part of overall immigration reform.
    • Mr. Obama also had India on the back foot on the subject of Intellectual Property protection, pointing out that U.S. companies were hampered by the lack of adequate protection in India

    Daily News Mail

    'Common Man' creator no more

    • The legendary cartoonist and creator of the Common Man , R.K. Laxman, one of post-Independence India’s greatest caricaturists, died of a cardiac arrest at Deenanath Mangeshkar Hospital here on Monday evening. He was 93.
    • Mr. Laxman, born in the then Mysore on October 24, 1921, was the youngest of six sons of a school headmaster and became famous as his brother, writer R.K. Narayan. Growing up in the city’s idyllic environs, Mr. Laxman was influenced by the caricatures of the New Zealand-born Sir David Low, then the pre-eminent caricaturist of the Western world.


    Permanent commission for women hanging fire
    • As women officers made history by leading contingents of the three services at the 66th Republic Day parade on Rajpath, an appeal filed by the government against giving permanent commission to them in the Army lies pending and half-forgotten in the Supreme Court.
    • For almost five years, this appeal on behalf of the Army against a Delhi High Court judgment of March 12, 2010 has travelled through various Benches of the apex court without reaching finality.
    • Filed in the Supreme Court on July 6, 2010, the appeal sought a stay of the High Court decision, which observed that women officers “deserve better from the government.”
    • The High Court had rejected the government’s contention that permanent commission could only be allowed prospectively. “If male officers can be granted permanent commission, there is no reason why equally capable women officers can’t,” the Bench of Justices Sanjay Kishan Kaul and M.C. Garg had reasoned.
    • Women are inducted into the Army as officers under Short Service Commission for a maximum period of 14 years, whereas their male counterparts are eligible to receive permanent commission after five years.
    • Due to their limited service span, the women officers are not eligible for pension, which requires a minimum 20 years of service. “Their release comes at a juncture when they are still in their mid-thirties and not trained for any other job,” the PIL pleas had argued.
    The deadlock in Nepal
    • The political turmoil in Nepal continues as the prospects of reaching a consensus over a new draft Constitution still appears bleak. The Constituent Assembly was expected to promulgate a new Constitution on January 22, but the political parties were unable to resolve their differences in order to complete the task. The intense optimism that accompanied the nation’s transition from being a monarchy to a republic about a decade ago has turned into dismay with the political parties repeatedly failing to deliver on their promises. Nepal witnessed a transition in 1990 from authoritarian monarchic rule to a constitutional monarchy, followed by a decade-long Maoist insurgency that ended in 2006 with a peace agreement and the overthrow of the monarchy in 2008. The Interim Constitution of 2007 created a 601-member Constituent Assembly that also doubled as Parliament until a new Constitution was enacted. The Maoists emerged as the majority party in the April 2008 elections, but the Constituent Assembly failed to meet its 2012 deadline and so the Assembly stood dissolved and fresh elections were called. The second Constituent Assembly that was convened in January 2014 also failed to draft a Constitution. Rivalry and squabbles amongst parties are the main reasons for the state of political dysfunction. In the majority is a coalition of the Nepali Congress and the Unified Marxist-Leninist (UML) party that has a two-thirds majority in the Assembly. The Maoist party, which performed dismally in the second round of elections, has partnered with the Madheshi Morcha, a coalition of regional parties from the southern plains.
    • Federalism has become one of the most contentious issues to be resolved by the Assembly. This debate is closely tied to issues of identity and equality in a diverse nation with hundreds of communities, dialects and cultures. The ethnic and regional parties demand a federal structure that recognises and grants political autonomy to their groups, while its opponents warn that such sectarian politics threaten the country’s unified national identity by fuelling ethnic conflicts among groups. This genuinely significant problem of creating and redefining the essence and identity of a new constitutional democracy is, however, being jeopardised by power struggles among political parties that are exploiting and polarising the diversity of the regions for their own personal gains. On 25 January, Constituent Assembly Chairman Subash Nembang announced the formation of a proposal committee to prepare a questionnaire on the disputed issues of the new Constitution, which will then be voted upon by the Assembly. But with an Opposition that is vehemently opposed to the move, there is little room for optimism on this count at this point.(Source - The Hindu)
    A visit and outcomes in superlatives
    • Everybody was confident that U.S. President Barack Obama’s visit would be a good and successful one. The first U.S. President to be the chief guest at the Republic Day; the first U.S. President to visit India twice during his tenure. The question was whether it would be a great visit, and a historic visit. Clearly, Prime Minister Narendra Modi wanted it that way and he has successfully put his imprint on India-U.S. relations.
    Developing a Partnership
    • Between 1998-2000, the empathy between Strobe Talbott and Jaswant Singh built up over more than a dozen rounds of talks in less than two years, created the backdrop against which Prime Minister A.B. Vajpayee changed the idiom of India-U.S. relations from “estranged democracies” to “natural allies,” a politically bold but also a risky move at a time when India was under sanctions after the May 1998 nuclear tests. Brajesh Mishra, Mr. Vajpayee’s Principal Secretary and National Security Advisor, effectively established benchmarks for the bureaucracy in terms of giving content to the vision. Once most of the sanctions were lifted and President Clinton undertook a successful visit to India in March 2000, the two countries started working on the Next Steps in Strategic Partnership. This was carried forward with the Bush administration, though top level commitment between Mr. Vajpayee and Mr. Bush was missing, because, as famously said, he found it difficult to understand Mr. Vajpayee’s long pauses.
    • Manmohan Singh. Dr. Singh and Mr. Bush created the nuclear breakthrough in 2005 and continued to shepherd it through difficult domestic politics for three years, till the deal was finally inked in October 2008, just a month before Mr. Obama was elected to the White House. President Bush had faced a hostile Congress especially after 2006, which actively took up the agenda of the non-proliferation lobby in Washington while Dr. Singh, who did not receive the full backing of either his party or of his coalition partners, even threatened to quit, putting his political legacy at stake. It is interesting that this unlikely risk taker later recalled the India-U.S. Civil Nuclear Cooperation Agreement as the memorable achievement of his 10-year tenure. Though the UPA came back with a stronger mandate in 2009, Dr. Singh was no longer “Singh is King” and gradually became a weaker Prime Minister, yielding often to “coalition dharma.” He developed a good equation with Mr. Obama who referred to him as a “wise guru” but Dr. Singh’s commitment to the bilateral relationship could no longer be translated into benchmarks, on account of a lack of adequate staff work and fractured authority. India-U.S. relations were put on the back burner, surfacing on the front pages only when a controversy like that of diplomat Devyani Khobragade erupted.
    • The element of personal chemistry, reflected in Mr. Modi’s departure from protocol to receive his “friend” Barack at the Delhi airport, the image of the two leaders engaged in an animated conversation as they seemingly ironed out the last minute hitches in the nuclear deal on the lawns of Hyderabad House, the chai pe charcha , exchanges on how much sleep each got, was the equivalent of high fives. In fact Mr. Modi referred to the personal chemistry that he shares with Mr. Obama during their joint press conference and this has become the necessary catalyst to sustain the momentum in the relationship over the next two years. This has enabled Mr. Modi to convert the Obama visit into a great and historic event.
    The Nuclear Deal

    The centrepiece of the visit has been the “nuclear deal” though few details have emerged. There were two sticking pointsadministrative tracking which implies keeping track of all U.S.-supplied nuclear equipment and materials at all times and a U.S. requirement which India was reluctant to accept as it went beyond the International Atomic Energy Agency (IAEA) inspections that India had voluntarily agreed to (i.e. US abandoning its demand for tracking fuel supplies, even from third countries, to the Indian reactors. India had opposed this demand while agreeing for IAEA oversight, to which US has come around), and certain aspects of India’s nuclear liability law which U.S. suppliers (and other foreign and domestic suppliers too) found ambiguous and open-ended. It now appears that the U.S. has moderated its demand and will be satisfied with IAEA safeguards. In turn, the Indian side has explained its plans to set up an insurance pool amounting to Rs.1,500 crore (a ceiling under Indian law), half of which will be contributed by the suppliers and the operator (in this case, the Nuclear Power Corporation of India Ltd.) and the balance, by the General Insurance Corporation of India (GIC) and four other insurance companies. The premium costs, at between 0.1 per cent, would amount to less than Rs.1 crore per reactor and can be easily factored into the overall costs. The Indian side has also made an assurance to provide a legal memorandum that suppliers will not be liable to general tort law claims and, accordingly, multiple, concurrent liability claims will not be entertained. In other words, recourse from suppliers in case of nuclear damage can only be under the Liability Act, which is now limited in amount. Presumably, the government is confident that this assurance will be able to withstand a legal challenge.