Daily News Mail - News of 27/03/2015

Australia brings India down, makes final

• India’s World Cup campaign juddered((especially of something mechanical) shake and vibrate rapidly and with force) to a halt after a 95-run defeat to Australia in the semifinal here on March 26. 
• Steve Smith made a splendid century as Australia posted a massive 328 batting first. In response, India sank to 233 all out, done in by the pressure of a big chase and the home team’s excellent fast bowling.
• Australia will face New Zealand in the final in Melbourne on Sunday. Smith, who flourished against India in the Test series, made an unruffled, classy 105, stitching a partnership of 182 runs for the second wicket with Aaron Finch.
• India’s fast bowlers, who played a vital role in its unbeaten run to the semifinals, proved expensive. Umesh Yadav took four important wickets, but he leaked 72 runs from nine overs. No team had made over 300 in a World Cup semifinal; India was always going to be running uphill.

Captains of Australian and Indian Cricket Team

SC nod for finalising apectrum auction results

• The Supreme Court on March 26 allowed the Union government to finalise the results of the telecom spectrum auction, which ended on March 25, fetching the exchequer a huge revenue of Rs. 1.09 lakh crore.
• The order means the government can now collect initial payments of over Rs. 28,000 crore from successful bidders , helping to narrow the fiscal deficit.
• The final allocation of spectrum, however, will be subject to the court’s verdict as the auction criteria and guidelines have been challenged by some telecom companies.

Foreign Trade Policy likely on April 1

• The government is likely to unveil the new Foreign Trade Policy (FTP) on April 1, which is expected roll out incentives to boost exports.
• “We are trying to unveil the new FTP on April 1. It will be aligned with ‘Make In India’, ‘Digital India’, ‘ease of doing business’ and India’s free trade pacts with its partner countries,” a Commerce Ministry official told PTI.
• The much-delayed FTP may include sops for labour incentive sectors such as leather and handicraft. It is likely to talk about ways to enhance services exports.