1 India, China and Russia Vow to Combat Terror India on February

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India, China and Russia Vow to Combat Terror
India on February 2, 2015 emerged from the 13th trilateral meeting with Russia and China in Beijing
with a strongly worded declaration on jointly fighting terror besides a gradual acceptance on the part of
the two countries that New Delhi could soon be the right candidate to join the Asia-Pacific Economic
Cooperation (APEC) forum.
The three nations issued a joint statement on terror, saying religious, racial and ethnic divisions were no
justification for terrorism and pledging to crack down not only terrorists but also those who finance and
give refuge to them.
Addressing the media after meeting her counterparts for the 13th Russia, India and China (RIC) forum,
external, affairs minister SushmaSwaraj said both countries agreed to cooperate on implementing an
India-sponsored anti-terror proposal.
Delhi Sustainable Development Summit
From action packed high-octane action in Hollywood films, Arnold Schwarzenegger is now on a
crusade for a sustainable future and is determined to terminate climate change once and for all.
Delivering a special address at the opening of three day Delhi stainable Development Summit (DSDS)
on February 5, 2015organised by the Energy and Resources Institute (TERI)hesaid: "Climate Change is
not science fiction and it is impactingus right now.
Mr. Schwarzenegger, who is the founding chair of R 20 Regions of Climate Action, also described the
head of TERI R.K. Pachauri as the true action hero for his green crusade.
Despite doomsday predictions, California's green economy was going through the roof and the State
attracted more than 50 per cent of the venture capital in the US.
Solar Power deadline
The 100 GW target for Solar Electricity is a promise that India has been repeating at every climate
change forum over the last couple of months. But there clearly seems to be a confusion over what the
deadline for meeting this target should be 2020 or 2022.
On February 5, 2015 speaking at the DSDS Summit Environment Minister PrakashJavedkar said the
target was 'not for 2022' but would be achieved by 2020 itself. However, in all official documents the
government has kept 2022 as the deadline under tag National Solar Mission.
Apart from the solar target, the government has announced its intention to push other forms of
renewable energy as well, notably wind energy, through which about 60 GW of electricity is hoped to be
generated by 2022.
To Counter China, 6 Airports in Arunachal Pradesh
In a strategic move, the NDA government has commenced work to develop six airports in Arunachal
29 Subhash Road, Behind Lord Venkateshwar Wedding Point, Dehradun, Ph.:0135-2712477, 9358102781
www.optionsindia.org / www.optionsdehradun.com
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Pradesh. The eastern border state, which China does notrecognise as part of India, does not have a single
operational airport at present and has just a heliport near Itanagar.
The first of these airports at Tezu is to be made operational in January 2016 to develop a second airport
at Holangi.
Besides, feasibility studies are being commissioned to set up four more airports at Tawang, Daparizo,
Anini and Koloriang.
The seven operational airports in the Northeastern region are Dibrugarh, Lilabari, Guwahati (Assam),
Dima-pur (Nagaland), Shillone (Meghalaya), Imphal (Manipur) and Agartala (Tripura).
NitiAayog holds is first meeting
The first meeting of the newly constituted planning body, the NitiAayog (National Institution for
Transforming India), was held on February 6, 2015 in New Delhi. Members of the Aayog told Prime
Minister that the government needs to work towards high growth, predictable tax regime, fiscal
prudence and rapid infrastructure development.
Chairing the first meeting of the Aayog, Prime Minister Modi had solicited the members' and
economists' views on the state of economy, ways to perk up revenue mobilisation, expenditure
rationalisation and suggestions to put the country back on a high growth path. He prescribed that the
institution should work towardspromoting cooperative federalism and facilitate healthy competition for
development among states.
The recent initiatives of the government, which include the PradhanMantri JanDhanYojana, direct cash
transfer of LPG subsidy and Swachh Bharat.
The economists attending the meeting drew Primed Minister Modi's attention to the need for a renewed
focus on India's high-cost low-productivity farm sector, in addition to the manufacturing sector that is
being given a push through the Make in India campaign.
Those who participated in the meeting included former FICCI Director General Rajiv Kumar, former
Reserve Bank Governor BimalJalan, former Reserve Bank Deputy Governor SubirGokarn and former
Chairman, Commission for Agricultural Costs and Prices, Ashok' Gulati.
NitiAayog Vice-Chairman ArvindPanagariya, Chief Economic Adviser Arvind Subramanian and the
Aayog's full-time members BibekDebroy and V. K. SaraRsal Minister of State for Finance JayantSinha
and Planning Minister RaoInderjit Singh were present.
Meeting of the Governing Council
NitiAayog's Governing Council comprising Chie* Ministers of States and Lt. Governors of Union
Territories met on February 8, 2015 chaired by Prime MinistejNarendraModi. Demands for greater
devolution of fundi to the states dominated the first meeting of the Governing Council of the NITI
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Aayog. Prime Minister Modi reiterated that states and the Centre, or Team India, must work to forge a
model of cooperative federalism fad resolving differences and charting a common course to progress
and prosperity. Addressing the meeting the Prime Minister described 'Team India' as a combination of
three teams-The Prime Minister and the Chief Ministers; the Union Council of Ministers; and the
bureaucracy at the centre and the states.
The Prime Minister constituted three sub-groups of Chief Ministers to rationalise 66 centrally sponsored
schemes, recommend NITI Aayog's K role in promoting skill development in states and ensure success
of Swachh Bharat mission.
Taskforce
Highlighting that poverty elimination was the biggest challenge facing India, Modi asked the states to
set up a taskforce that will work in close coordination with the NITI Aayog to end poverty
The government has already launched the PradhanMantriKrishiSanchayiYojana to improve agriculture
productivity.
On the other hand, the states wanted a greater say in framing of central schemes. The demand was a
common thread among attending Chief Ministers. There was also demand that the states should be
allowed to devise schemes as per the regional needs and the centre should provide wherewithal for the
same.
46th Governors' Conference
The 46th Governors' Conference was held on February 11-12, 2015 at the RashtrapatiBhawan. Presided
Pranab Mukherjee inaugurated the Conference. Prime Minister NarendraModi was present in the
Conference.
Insistingthat peace and communal harmony must be ensured, President Mukherjee said that liberties,
freedom and equality were guaranteed in the Constitution and any deviation from theseprinciples
would weaken the democratic fabric of the country.
The Conference was attended, besides the PM, by Cabinet Ministers, 21 Governors and two Lt.
Governors.
The Agenda
The agenda for the Conference includes-security internal and external with special focus on border
security in states sharing international frontiers, financial inclusion, employment generation and
employability, making skill development programmes effective, sanitation achieving the goal of Swachh
Bharat by 2019 on Mahata Gandhi's 150th birth anniversary and issues relating to Fifth and Sixth
Schedule of the Constitution of India and development related issues of North-Eastern Areas.
On the economic scenario, he said India is projected to have the largest workforce in the world by 2025,
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with a surplus of 47 million workers against a shortage of 56-5 million skilled workers in the world.
The President stressed that skill development was also important for the success of the Make-in-India
campaign.
SIT Set up for 1984 Sikh Riot Re-investigation
Special Investigation Team (SIT) was set up by the government on February 12, 2015 for fresh
investigation into the 1984 anti-Sikh riots cases in Delhi and some other areas.
The three-member SIT will have two Inspector General rank IPS officers and a judicial officer. The SIT
has been constituted following a recommendation of a committee, headed by former Supreme Court
Judge Justice (retd.) G.P. Mathur, which was set up to look into the possibility of re-investigation of 1984
riots cases.
First Renewable Energy Global Investors Meet (RE-Invest)
The first Renewable Energy Global Investors Meet, known as RE-Invest, was held in New Delhi on
February 15, 2015. As many as 293 companies have committed to generate 266 GW of renewable energy
in the next five years under the government's ambitious RE-Invest programme unveiled by Prime
Minister NarendraModi.
These companies have shown interest to set up renewable power plants in the country and some have
assured to manufacture equipment as well.
At the RE-Invest meet Modi said that there should be thrust on equipment manufacturing under the
'Make in India' plan as it will go a long way in job creation.
While inaugurating the three-day conference, the Prime Minister said, "solar, wind and biomass sources
of energy are the way forward and the government is working towards making solar power more
viable."
The government is looking to more than double the share of renewable sources to over 15% in the
country's overall energy basket in about a decade, power minister PiyushGoyal said.
"What we inherited is a mere 6% share of renewable energy in the India energy basket... and we are
looking to expand the frontiers of renewable energy in the energy basket of India to over 15 per cent in
the next 10 or 12 years." Goyalsaid.
Renewable energy companies including Suzlon and Gamesa have committed to manufacture equipment
to help generate 11,000 MW and 7,500 MW of power respectively to be used in the non-conventional
energy side.
The country's largest power producer NTPC has also said it would generate 10,000 MW of power
through green sources in the next five years.
Among others areWelspun Energy with a target to generate 11,000 MW renewable energy followed by
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Re-New Power 11,500 MW capacity. Reliance Power 6,000 MW, Hindustan Power projects 10,000 MW
and Sun Edison 15,000 MW.
The country's biggest lender SBI has said that it will finance 15,000 MW renewable energy over the next
five years.
Modi said solar energy can be used to power irrigation pumps and increase crop productivity through
micro irrigation.
"We are focussing on renewable energy not for laurels but to lighten homes of the poor and bring a
change in their lives," he said. "We have ponds, can we think of solar panels on top of these ponds Rs We
need to think of innovative ideas."
Supersonic Cruise Missile BrahMos Tested Successfully
India on February 14, 2015 successfully test-fired the ersonicBrahMos cruise missile from INS Kolkata,
navy's most powerful and newest warship in Arabian Sea.
The launch was flawless and the missile met all its parameters.
The Indian Navy commissioned INS Kolkata on August 16, 2014. This is the first ship of this class, with
two more in the pipeline.
All the three ships will be equipped with the vertical launched BrahMos system as the prime strike
weapon.
The Universal Vertical Launching Module (UVLM) being used in these has a unique design developed
and patented by BrahMos Aerospace. The UVLM has the benefits of stealth and permits launching of the
missile vertically in any direction
India, Sri Lanka Ink Civil Nuclear Pact
Taking the ties to a new level India and Sri Lanka on February 16, 2015 in New Delhi inked a civil
nuclear pact besides deciding to expand defence and security cooperation.
This was announced after the talks between Prime Minister NarendraModi and Sri Lankan President
MaithripalaSirisena during which both the leaders expressed commitment to find a solution to the
emotive fishermen issue by adopting approach.
"The bilateral agreement on civil nuclear cooperation is yet another demonstration of our mutual trust.
This is the first such agreement Sri Lanka has signed. It opens new avenues for cooperation, including in
areas like agriculture and healthcare," Modi said in a joint press interaction with Sirisena.
Strengthening Friendship
Neighbours Agree to Expand Defence Ties
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Peaceful Use of Nuclear Energy-To join hands in transfer of expertise, training of personnel in
nuclear safety.
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Cultural Cooperation-To enhance ties in performing arts, cultural documentation.
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MoU on Establishing Nalanda University-To enable Sri Lanka to participate in the Nalanda
University Project.
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Work Plan UnderMoU on Cooperation in AgricultureTo facilitate ties in agro-processing.
Other Pacts
The two countries also signed three other pacts, including cooperation in the field of agriculture.
Another MoU was signed to enable Sri Lanka to participate in the Nalanda University Project.
The Prime Minister said he and the Sri Lankan leader also agreed to expand the defence and security
cooperation. "We welcomed the progress in our maritime security cooperation, including in the trilateral
forma with the Maldives."Modi said he believed that destinies of both the countries were interlinked
and that, "our security and prosperity are indivisible.
Govt. Nod to Build Seven Stealth Frigates and Six N-Submarines
In a major step towards building a formidable blue-water Navy for the future, the Modi government has
cleared the indigenous construction of seven stealth frigates and six nuclear-powered attack submarines,
which together will cost well upwards Rs. 1 lakh crore.
The Cabinet Committee on Security (CCS) took these decisions in tune with the 'critical necessity' for
India to bolster its 'overall deterrence capability' in the entire Indian Ocean Region (IOR), especially its
primary area of strategic interest stretching from the Persian Gulf to the Strait of Malacca.
Under the over Rs50,000 crore 'Project-17A' for stealth frigates, four will be constructed at Mazagon
Docks in Mumbai and three in Garden Reach Shipbuilders and Engineers in Kolkata.
The Multi-Mission Frigates
Both the defence shipyards are already geared up for the project because it's a 'follow-on' to the three
6,100 tonne stealth frigates built by Mazgaon Docks Limited, INS Shivalik, INS Satpura and INS
Sahyadari, which were inducted in 2010-12.
The new multi-mission frigates will be larger, faster and stealthier than the Shivaliks as well as packed
with more weapons and sensors to operate in "a multi-threat environment". But it could well take a
decade, if not more, to build all the seven frigates.
N-Powered Submarines
The government has basically 're-worked' the 30-year diesel-electric submarine-building plan, approved
by the CCS in 1999, which envisaged induction of 12 new conventional submarines by 2012, followed by
another dozen by 2030.
Prithvi-II Test-fired Successfully
Strategic Forces Command personnel test-fired the nuclear weapons capable Prithvi-II missile from
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Chandipur in Balasore district of Odisha on February 19, 2015 for a range of 250 km as against its full
strike range of 350 km.
After a nearly seven minutes of flight, the surface-to-surface missile carrying a 500 kg dummy payload
splashed into the Bay of Bengal within less than 20 metres of the target point, said Defence Research and
Development Scientists
The scientists said Prithvi could not be intercepted because of its manoeuvring capability.
UN's Highest Court Absolves Croatia, Serbia of Genocide
The United Nation highest court ruled on February 3, 2015 that neither Croatia nor Serbia had
committed genocide against each other's populations during the wars that accompanied the violent
break-up of Yugoslavia in the 1990s.
Peter Tomka, President of the International Court of Justice said that the forces of both countries had
committed crimes during the conflict, but that the intent to commit genocide—by "destroying a
population in whole or in part"—had not been proved against either country.
The cases were part of the long legal fall-out from the break-up of Yugoslavia into seven states in wars
that lasted eight years and left more than 130,000 dead in Europe's worst conflagration since World War
II.
Croatia filed its case against Belgrade in 1959 and Serbia its countercase against Zagreb only in 2010.
Rejecting Serbia's counter-claim, he said Croatia had not committed genocide when it sought to drive
ethnic Serbs from the province of Krajina.
The panel of judges rejected Croatia's claim by fifteen votes to two. Serbia's counterclaim was rejected
unanimously, implying that even Serbia's delegated judge had ruled against.
The UN tribunal for the former Yugoslavia, which also sits in Hague, has long since ruled genocide was
committed in Bosnia, where more than 8,000 Bosnian Muslim men and boys were killed when UN 'safe
haven' of Srebrenica fell to Bosnian Serb forces in 1995.
February 3, 2015 decision was not unexpected, as the UN's Yugoslav war crimes tribunal, a separate
court also based in the Hague, had never charged any Serbs or Croats with genocide in each other's
country.
Post India Visit, Obama Lends Thrust to US Asia Pacific Thrust
Days after his successful India visit, US President Barack Obama has given a new thrust to the AsiaPacific rebalance in his annual budget and asserted that the region remains a key priority for him.
In order to address security, development, and economic challenges, the budget for the fiscal year 2016
prioritizes advancing regional and country capabilities
US Annual Budget
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To address security, development, and economic, challenges, the US budget for the fiscal year
2016 prioritizes advancing regional and country capabilities.
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The $ 3-99 trillion budget recognises that security in the Asia-Pacific region underpins regional
and global prosperity.
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The budget provides resources to help deepen US trade in the region.
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The US leads the way in negotiating the high-standard Trans-Pacific Partnership with 11
countires in the Asia-Pacific region.
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This will will boost American exports and create Jobs at home by promoting strong rules to
protect labour, environment and intellectual property.
“It is clear that the Asia Pacific remains a key priority for us because of the level of increase," Deputy
Secretary of State Heather Higginbottom told reporters at a news conference.
The move comes as the new government in India led by NarendraModi is following an "Act East Policy"
in the region.
Fiji to Remove Union Jack from Flag,Says PM
Fiji will remove the Union Jack from its flag and replace it with a design that symbolises the Pacific
nation, not former colonial power Britain, Prime Minister Vorege Bainimarama said on February 3, 2015.
China's Silk Roads and Maritime Silk Road Plan Gets Underway
China has appointed top officials to manage a $ 40 billion fund to finance its most ambitious global
plan— the Silk Roads and Maritime Silk Road—to build major infrastructure projects aimed to enhance
its strategic influence and blunt the US's big push into Asia-Pacific.
A team headed by Wang Yangzhi, an official with China's foreign exchange regulator, has been formed
to formally operate the fund announced by President Xi Jinping last year.
Wang has been named the general manager of the fund. Jin Qi, 59, the assistant governor of the People's
Bank of China, the central bank, will be the fund's chief executive, while Zhu Surong, governor of the
Urumqi branch of the PBOC in the Xinjiang, will be one of the board members of the fund, state-run
China Daily reported.
It has drawn wide international attention amid publicity blitz launched by Chinese media since last
year.
Sri Lanka to Go ahead with Chinese Port City Project
In a U-turn, the new Sri Lankan government on February 6, 2015 said it will go ahead with the Colombo
Porty City, a $ 1-5 billion project funded by China, to ensure relations remained cordial with the
communist giant.
The port, expected to play a key role for China's ambitious Maritime Silk Road project in India's
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backyard, is being seen as the single largest private sector development ever in the island.
The 1-5 billion-dollar project, would allow China Communication Construction Co. Ltd, a Chinese
government-owned infrastructure builder, to hold land in a high-security zone within close proximity to
the Colombo port.
Greek PM Wins Confidence Vote
Greek Prime Minister Alexis Tsipras comfortably won a confidence vote in February 2015 on his plan to
cancel a deeply unpopular bail outprogramme and challenge European leaders.
Tsipras has assured that he would reverse an economic programme that has slashed living standards in
the country
Greece is hit by a debt since end of 2009. In May 2010, theEurozone countries, ECB and IMF launched a €
110 billion bailout loan for Greece, conditional on implementation of austerity measures, reforms and
privatization of government assets.
Ukraine Ceasefire Pact Reached
Marathon talks in Belarus ended on February 12,2015with a ceasefire announcement in the war between
Ukraine and pro Moscow rebels but Germany's Chancellor Angela Merkel warned that 'big hurdles'
remained.
Russian President Vladimir Putin emerged from the summit in the Belarussian capital Minsk, saying
that he, Merkel, French President Francois Hollande and Ukrainian President Petro Poroshenko had
agreed on the main points.
The ceasefire was to be effective from February 15. Putin said that heavy weapon would be withdrawn
from frontlines of the conflict, which killed5,300 people and had driven/million people from their
homes.
IMF Earmarks $ 17-6 billion for Ukraine Reforms
The International Monetary Fund has agreed to provide Ukraine with 15-5 billion euros ($ 17-6 billion)
to help support economic reforms.
IMF managing director Christine Lagarde said that "this new programme offers an important
opportunity for Ukraine to move its economy forward at a critical moment in the country's history."
The announcement made in Brussels, came as the leaders of Russia, Ukraine, France and Germany held
peace talks in Minsk.
Lagarde says the reform plan "is an ambitious programme, it is a tough programme, and it is not
without risk. But it is also a realistic programme and its effective implementation-after consideration and
approval by our executive board-can represent a turning point for Ukraine."
Sergio Mattarella is Italy's new President
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Italian lawmakers elected Sergio Mattarella, a Constitutional Court justice widely considered to be above
the political fray, as the nation's new President on the third day of voting on January 31, 2015.
Mattarella's election as head of state was clinched when he amassed 505 votes—a simple majority. The
73-year-old former minister with centre-left political roots went on to garner 665 votes from the 1,009
eligible electors.
Pakistan successfully test fires new stealth cruise missile
Pakistan on February 2, 2015 successfully test-fired a new indigenously developed cruise missile capable
of delivering nuclear and conventional warheads up to 350 km, bringing many Indian cities under its
range. The Ra'ad missile enables Pakistan to achieve "strategic standoff capability" on land and at sea, as
it uses extremely complex "Cruise Technology" that has been developed by only a few countries in the
world, Pakistan army said.
US to destroy its largest chemical weapons cache
The US is set to begin destroying its largest remaining stockpile of chemical-laden artillery shells. The
Pueblo Chemical Depot plans to neutralise 2,600 tonnes of ageing mustard agent in March as the US
moves toward complying with a 1997 treaty banning all chemical weapons.
Thailand boosts military ties with China amid US spat
China and Thailand agreed on February 6, 2015 to boost military ties over the next five years, from
increasing intelligence sharing to fighting transnational crime, as the ruling junta seeks to
counterbalance the country's alliance with Washington. The agreement came during a two-day visit by
China's defence minister Chang Wanquan to Bangkok
N. Korea fires short range missiles
North Korea test-fired five short range missiles into the sea off its east coast or February 8, 2015, raising
cross-border tensions.
The North fired the missiles into the East Sea (Sea of Japan) from its eastern city of Wonsan.
On February 7, 2015, the North said it had test-fired an 'ultra-precision' anti-ship rocket, which will be
deployed across its navy 'before long'.
BIHAR
Nitish Kumar Sworn in as Bihar CM
Bihar Governor KeshariNathTripathi administered the oath of office and secrecy to senior Janata Dal
(United) leader Nitish Kumar as the Chief Minister of Bihar on February 22 at Raj Bhawan, Patna. Nitish
swearing in ceremony ended a political turmoil in Bihar over power struggle with his predecessor and
once his close aide Jitan Ram Manjhi.
AamAadmi Party Storms to Power in Delhi Assembly
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The AamAadmi Party led by charismatic leader ArvindKejriwal registered an unprecedented and
landslide victory in the 70-member Delhi assembly by sweeping 67 seats on February 10, 2015. AAP's
performance in the Delhi assembly poll was so massive as it conceded only three seats to BJP, the worst
drubbing to BJP in Delhi-from 31 seats in 2013 assembly polls.
Mufti Mohammad Sayeed Sworn in as Jammu and Kashmir CM
Ending political uncertainty in Jammu and Kashmir, People's Democratic Party patron Mufti
Mohammad Sayeed was on March 1, 2015 sworn in as the 12th Chief Minister of the State by Governor
N.N. Vohra at Zorawar auditorium, Jammu University, in Jammu. The BharatiyaJanata Party joined the
government for the first time in J & K history, a lone Muslim majority state of India. Mufti Sayeed
became the Chief Minister of J & K for the second time as he had been the CM from November 2, 2002 to
November 2, 2005.
Nirmal Singh of BJP became the Deputy Chief Minister of the State. Apart from Sayeed and Singh, 23 ,
other leaders both from PDP and BJP were sworn in as Ministers in the Jammu & Kashmir Government
30 Crore live in extreme poverty in India, UN report says
About 30 crore people still live in extreme poverty in India even as the Millennium Development Goal
(MGD) programme, which aims to free millions from extreme poverty and hunger, illiteracy, poor
health, will expire in December, a United Nations report has said.
L. C. Goyal Takes Charge as New Home Secretary
The new Union Home Secretary LC Goyal took charge on February 5, 2015 following the unceremonious
exit of Anil Goswami for alleged misconduct. Mr. Goswami's abrupt removal close on the heels of the
replacement of Foreign Secretary Sujata Singh late in January 2015 has sent the signal that the
NarendraModi government wants the bureaucracy to perform or perish.
Obama Appoints A jay Banga to Top Trade Body
US President Barack Obama announced appointing top Indian American CEO Ajay Banga to a key
administration position.
Banga, Chairman of the US India Business Council, has been appointed as member of the Advisory
Committee for Trade Policy and Negotiations, the White House said. Banga, an MBA from the Indian
Institute of Manage-ment, Ahmedabad is President and CEO of Master Card, a position he has held
since 2009.
Ashton Carter Confirmed as new US DefenceSecretary
Ashton Carter, a close confident of President Barack Obama and a strong proponent of Indo-US ties, has
been confirmed by the Senate as the next US defence secretary
US-Indian Made Special Envoy and Coordinator
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Indian-American RashadHussain has been appointed Special Envoy and Coordinator for Strategic
Counter terrorism Communications to expand global engagement of the US to counter violent
extremism.
Kenji Ekuan : The Former Monk who Vesigned Bullet Trains Bottles, Dies
Japanese industrial designer Kenji Ekuan, who works ranged from a bullet train to the red-capped
Kikkoman soy sauce dispenser as familiar as the Classic Coca Cola bottle passed away in Tokyo on
February 9, 2015. He was 85.
A former monk, Equan crafted a table top bottle for Kikkoman Corporation in 1961, winning
international popularity both for the handy, flask-shaped dispenser and of course for the salty brown
condiment flavouring many Asian Cuisines.
Other of his renowned works include the Yamaha VMAS motorcycle, the Komachi bullet train
connecting Tokyo and northern Japan, the Narita Express airport liner, as well as audio equipment and
company logo.
Michele Ferrero, Italy's Richest Man
Michele Ferrero, the world's richest candy maker whose Nutella chocolate and hazzlenut spread helped
generations of Europeans and define Italian sweets, died on Valentine day, February 14, 2015. He was
89.
Ferrero was the patriarch of the eponymous family empire best known for itsNutella and Ferrero Rocher
chocolates.
Ferrero's father Pietro Ferrero opened his first chocolate laboratory in Alba, in Italy's north-west
Piemonte region in 1942. The business passed to Michele Ferrero upon Pietro's death in 1949.
Take Solutions India Golf Awards, 2015
AnirbanLahiri was on February 16, 2015 honoured with the Best Professional Indian Golfer of the year
award in the second edition of the Take solutions India Golf Awards, 2015 in New Delhi. Delhi's
VaniKapoor bagged the Best Professional Female Golfer of the year honour. S. Chikkarangappa was
named the Rising Golfer of the year while VaishaviSinha got this award in the female category. Vijay
Divecha, Lahiri's coach for 13 years was named the Best Treaching Professional Golfer.
After winning the Malaysian Open earlier in February 2015.Lahiri emerged as the first choice of the
award jury which comprised British Open champion Peter Thomson, Ashok Malik,GauravGhei and
ChampikaSayal.
87th Oscar Awards
The 87th Annual Academy Awards, popularly known as the Oscar Awards were presented at a
spectacular and star-studded award ceremony in Hollywood, California on February 22,2015. Mexican
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director Alejandro G. Inarritu's film Birdman was adjudged the best motion picture.
87th Oscar Award Winners
Best Picture : Birdman-Alejandro G. Inarritu, John Lesher and James W. Skotchdopole
Best Director: Alejandro Gonzalez Inarritu-Birdman Best Actor : Eddie Redmayne-The Theory of
Everything
Best Actress : Julianne Moore-Still Alice
Best Original Song : Glory-John Stephens and Lonnie Lynn
60th Filmfare Awards-2014
The 60th Britannia Filmfare Awards ceremony was organized at Yashraj Studio in Andheri, Mumbai on
January 31, 2015. As per the expectations 'Queen' and 'Haider' films swept away major filmfare awards
for the year 2014.
60th Britannia Filmf are Awards : Major Award Winners
Best Film-Queen Best Director-VikasBahl (Queen) Best Actor-ShahidKapoor (Haider) Best ActressKanganaRanaut (Queen) Best Actor in a Supporting Role (Female)-Tabu (Haider)
Best Playback Singer (Male)-AnkitTiwari :Galiyan (Ek Villain)
Best Playback Singer (Female)-KanikaKapoor : Baby Doll (Ragini MMS 2)
Lifetime Achievement Award-KaminiKaushal
57th Grammy Awards
British soul singer Sam Smith won four Grammy awards including record and song of the year for his
song 'Stay with Me' at the 57th annual Grammy Awards ceremony on February 8, 2015 in Los Angeles
(USA). Sam also won Grammy for best new artist. His debut album 'In The Lonely Hour' was honoured
with the best pop vocal album honour. Beck's Moning Phase won three Grammy awards including
Album of the year and Best Rock Album honour.
Two Indian musicians Ricky Kej and NeelaVaswani won Grammy honours for their works in album
'Winds of Samsara' and the documentary on MalalaYousafzai respectively
57th Grammy Awards : Major Award Winners
Album of the Year-Beck: Morning Phase
Best Pop Solo Performance-PharellWilliams :Happy
BhalchandraNemadeChosenfor50thJnanpith Award
Eminent Marathi litterateur BhalchandraNemade was selected for the 50th Jnanpith Award for the year
2014 on February 6, 2015 at a meeting of the 10-member Jnanpith award jury headed by noted Hindi
writer Namwar Singh in New Delhi. Nemade is the fourth Marathi writer to claim this prestigious
award of Indian literature after V. S. Khandekar (1974), V. V. Shirwadkar (1988) and GovindKarandikar
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(2003). He will be presented the award in April 2015.
The JnanpithAward, instituted in 1961 carries a cheque for Rs 11 lakh, a citation plaque and a bronze
replica of Saraswati goddess.
• Nemade is a Marathi writer from Maharashtra and is famous for his Hindu and Kosala books and
for novel "Hindu jagnyachisamrudhhaadgal."
• He holds a Ph.D. and D.Lit. degrees from North Maharashtra University.
• He received a SahityaAkademi Award for year 1990 for his critical work TeekaSvayanwar.
• He wrote his first novel Kosala in 1963 which was a fictitious autobiographical novel of one
PandurangSangvikar, a youth from rural Maharashtra who studies in a college in Pune; but it is
loosely based on his own life when he was youth.
•
Nemade was conferred with Padma Shri in 2011 by Government of India.
BAFTA Awards-2015
The 2015 British Academy Film and Television Arts Award caremony was organized at the Royal Opera
House in London on February 8, 2015. Eddie Redmayne picked up the Best Actor BAFTA for his
portrayal of eminent scientist Stephen Hawking in The Theory of Everything!
Major BAFTA Award Winners
Best film-Boyhood : Richard Linklater, Cathleen Sutherland
Best actress-Julianne Moore : Still Alice
Bestactor-EddieRedmayne : TheTheoryof Everything
Best director-Richard Linklater : Boyhood
Best original music- The Grand Budapest Hotel :AlexandreDesplaty
AmartyaSen Chosen for Maynard Keynes Prize
Nobel laureate AmartyaSen has been selected for the newly instituted Charleston EFG John Maynard
Keynes Prize for his exceptional contribution to society. Mr. Sen is currently a professor of Economics
and Philosophy at Harvard University.
65th Berlin International Film Festival
The 65th Berlin International Film Festival was organized from February 5 to 15, 2015 in Berlin
(Germany). The Iranian dissident filmmaker JafarPanahi was honoured with the coveted Golden Bear
award of the Berlin Film Festival at a gala awards ceremony for his film Taxi on February 14.
List of Major Award Winners at 65th Berlin Film Festival
Golden Bear for Best Film : Taxi—JafarPanahi
Silver Bear Grand Jury Prize : Pablo Larrain—ElClub
Silver Bear Alfred Bauer Prize for a feature film that opens new perspectives :Ixcanul, dir-—Jayro
14
Bustamante
Silver Bear for Best Director (tie): Radu Jude, Aferim !andMalgorzataSzumowska—Body
Silver Bear for Best Actress : Charlotte Rampling— 45 years
Silver, Bear for Best Actor: Tom Courtenay—45 years
PrabhaAtreHonoured with Bhimsen Joshi Award
Veteran Classical Hindustani vocalist PanditJasraj felicitated renowned classical vocalist PrabhaAtre
with the coveted PanditBhimsen Joshi Lifetime Achievement Award-2014 on February 15, 2015 in
Nashik. The award, instituted by Maharashtra government's Directorate of Cultural Activities, carries a
cash purse of Rs 5 lakh, a citation and a memento.
India Improves Press Freedom Rank
India has been ranked 136 out of 180 nations worldwide in terms of press freedom in 2015, which marks
an improvement from its rank of 140 in 2014, even though its absolute score declined from 40-34 to 40-49
While the top of the list this year and in previous s_ was dominated by Scandinavian nations such as
Finland, Norway and Denmark, at the other end of the scale, Turkmenistan, North Korea and Eritrea
were the worst performers. Russia, Iran and China also performed poorly, ranking at 152, 173 and 176,
respectively.
SAARC Literature Festival: 150 Intellectuals 8 Nations Share 1 Platform
SAARC Lit festival gets off to a rocking start in Agra
The four-day SAARC Literature Festival, organised in collaboration with the Union Ministry of External
Affairs, got off to a rocking start at Agra on February 13, 2015. Delegations from South Asian Association
for Regional Cooperation (SAARC) nations participated in the festival.
In a massive cultural blend, around 150 intellectuals from Nepal, Sri Lanka, Pakistan, Afghanistan,
Bhutan, Maldives, India and Bangladesh gathered on one platform to share ideas. Noted writer
AjeetCaur welcomed all the guests.
Dr. Ajay M. Gondane expressed happiness to be part of SAARC Lit Fest-2015. Literary awards were
given to academic representatives of the SAARC nations including Salina Hossain from Bangladesh, Dr.
NisarChaudhary from Pakistan, Aryan Aroon from Afghanistan and SumanPokhrel from Nepal.
India Among Top 3 Nations Producing Maximum Billionaires
India has for the first time managed to find a place among the top three countries generating most
number of billionaires in the world with Reliance Industries MukeshAmbani heading the Hurun Global
Rich List India 2015 of wealthiest in the country.
The India list gives details of the richest people in the country with a cut off wealth of Rs6,000 crore.
MukeshAmbani with a wealth of Rs1-2 lakh crore tops the list among billionaires in the country,
15
followed by DilipShanghvi of Sun Pharma with an estimated wealth of Rs1-02 lakh crore. PallonjiMistry
and family of Tata Sons with Rs96,000 crore assets are in the third place.
This is the first time India is among the top three countries with the maximum number of billionaires.
While the US tops the list, China is in second place followed by India, as per the Human Global Rich list
report which was prepared in India.
Eco dynamism reason for India being top 3
India leap frogged Russia and UK to the third place. Of the 2089 billionaires across the world 97 reside in
India. Wipro's AzimPremji 84,000 crore) HCL, Technologies Shiv Nadar (Rs66,000 crore), Kumar Birla of
Aditya Birla (Rs 60,000 crore) and Sunil Mittal and family (Rs60,000 crore) are among the top 10 in the
India list} According to the list, 41 of the 97 billionaire have inherited wealth and 56 are self made
billionaires.
Russia Unveiles ‘Big Three’ Movement
Russia on January 5, 2015 defied anger by unveiling a controversial monument to Soviet leader Joseph
Stalin, Britain's Winston Churchill and US President Franklin Roosevelt at their fateful meeting in
Crimea in 1945.
The huge monument was inspired by enduring images of the 'Big Three' meeting in the resort town of
Yalta on the balmy shores of the Crimean peninsula to discuss their anti-Nazi Germany strategy and
decide the fate of the post-war world.
The inauguration of the 10-tonne bronze sculpture by Russia's ZurabTsereteli was timed to coincide
with events marking the 70th anniversary of the Yalta Conference.
Development of Indigenous AMCA on Track
The development of the indigenous Advanced Medium Combat Aircraft (AMCA) is on track and Russia
is cooperating with some technologies, said Dr. K. Tamil-mani, Chief Controller R&D (Aero) of Defence
Research and Development Organisation (DRDO) in Bengaluru on February 19, 2015.
The basic technology required for AMCA is available with India, Dr. Tamilmani said.
The DRDO is likely to zero in on a partner within six rrtonths. The target is to integrate the engine into
the aircraft by 2019.
Vairengte (Mizoram)
Third joint military exercise between Indonesia and India concluded on February 21, 2015 at counterInsur-gency and Jungle Warfare School in Vairengte, Mizoram. Garuda Shakti-III was the code name of
the military exercise which began on February 9 with an aim to build and promote positive military to
military relations between the armies of India and Indonesia. The exercise was focussed on counter
insurgency operations. Both the armies shared their experience of neutralizing terrorist threats.
16
Varanasi
Union Communication Minister Ravi Shankar Prasad on February 8, 2015 launched free Wi-Fi services
in two ghats of Varanasi-the Dashashwamedh and Shitala Ghats. The BSNL will provide the Wi-Fi
service free for 30 minutes every 24 hours; thereafter, the Wi-Fi facility can be used under subscription
plans of the BSNL. Other ghats of Varanasi, the LokSabha constituency of PM NarendraModi, will be
brought under the Wi-Fi Zone soon. Wi-Fi is one of the important initiatives Mr.Modi has lined up for
Varanasi.
BOOKS AND AUTHORS
1.
Travelogue of My Struggle-Ridden Life and BSP Movement By Ms. Mayawati, President of
BahujanSamaj Party
4.
Fragile FrontiersBySaroj Kumar Rath New Delhi
5.
India And the European Union in A Changing WorldEdited by Rajendra K. Jain.
8.
The Black HillByMamang Dad Aleph
9.
Rendevouz with Rebels : Journey to Meet India'sMost Wanted Men By Rajeev Bhattacharya.
China to build 6 N-plants in Pakistan
A Chinese official from National Development and Reform Commission (NDRC) confirmed that the
country is involved in six nuclear power projects in Pakistan and is likely to export more reactors to the
country. The NDRC is drawing up new guidelines to announce supportive financial policies for exports
in the nuclear sector, Wang said.
China finds sizable gas field in South China Sea
China said its recent discovery in the politically volatile South China Sea could field 100 billion cubic
meters of natural gas, underlining Beijing's determination to extract resources from waters claimed by
several nations. The Lingshui 17-2 gas field was discovered 150 km south of China's southern most
island of Hainan, and the Ministry of Land and Resources has approved it as a large-scale find.
European Union leaders, agree on new anti-terror measures
Stirred to action by January 2015's terror attacks in France, European Union leaders agreed on February
12, 2015 on an ambitious range of new steps to better protect their countries from terrorism. Actions
unanimously endorsed at an EU Summit meeting include the sharing of airline passenger data, tougher
border controls on travellers and the detection and removal of internet content promoting terrorism or
extremism
CSO Estimates 7-4% GDP Growth for 2014-15
According to CSO's advance estimates for GDP based on the new calculation methodology, Indian
17
economy is likely to grow at a faster pace of 7-4 per cent in the current fiscal 2014-15 as against 6-9 per
cent in 2013-14.
Growth in the agriculture is estimated to be 1-1 per cent. The estimated growth in manufacturing,
mining and quarrying, electricity, gas and water supply, and construction is estimated to be 6-8 per cent,
2-3 per cent, 9-6 per cent and 4-5 per cent, respectively during 2014-15 as compared to growth of 5-3 per
cent, 5-4 per cent, 4-8 per cent and 2-5 per cent, respectively, in 2013-147
The data further showed that GDP at current prices in 2014-15 is likely to attain a level of Rs 126-54 lakh
crore, up 11-5 per cent from Rs 113-45 lakh crore in 2013-14.
The per capita net national income during 2014-15 is estimated to be Rs 88,538, up 10-1 per cent as
compared to Rs 80,388 during 2013-14 with the growth rate of 12-3 per cent.
At constant prices, the per capita income (at 2011-12 prices) during 2014-15 is likely to attain a level of Rs
74,193 as compared to Rs 69,959 in 2013-14. The growth rate in per capita income is estimated at 6-1 per
cent as against the previous estimate of 5-4 per cent.
National Income Estimates with New Base Year 2011-12
The Ministry of Statistics &Programme Implementation has revised the base year of estimating national
income data from 2004-05 to 2011-12 and has released the revised data. Last time the base year of
national accounts was revised to 2004-05 in January 2010.
With the revised definition of GDP with new base year 2011-12, country's economic growth in 2012-13
and 2013-14 got pushed up as compared to older series data (base year 2004-05). In the new definition of
the economic growth with new base year 2011-12, GDP is estimated at market prices, which includes
indirect taxes but excludes subsidies. Earlier, GDP growth was estimated at factor cost, which excludes
indirect taxes but includes subsidies. GDP at factor cost is now removed from the scene and will not
even be mentioned by the government in future statements. GDP at market prices was recorded in the
past as well even though it was not counted while calculating economic growth.
In place of GDP at factor cost, Gross Value Added (GVA) at basic prices will be used now.
The difference between GDP at factor cost and GVA at basic prices is that production taxes are included
and production subsidies excluded from the latter. Now, GDP at market prices would come by adding
product taxes and deducting product subsidies from GVA at basic prices.
Taking the old definition and base of 2004-05, India's GDP growth stood at 4-5 per cent in 2012-13 and 47 per cent in 2013-14. However, the new series put GDP growth at 5-1 per cent for 2012-13 and 6-9 per
cent for 2013-14.
• The salient features of the key macro-economic aggregates are indicated as follows:
• GDP for the base year 2011-12 is estimated as Rs88-3 lakh crore. Nominal GDP or GDP at current
18
prices for the year 2012-13 is estimated as Rs99-9 lakh crore while that for the year 2013-14 is
estimated as Rs113-5 lakh crore, exhibiting a growth of 13-1 per cent and 13-6 per cent during the
years 2012-13 and 2013-14 respectively.
• Real GDP or GDP at constant (2011-12) prices stands at Rs92-8 lakh crore and ^ 99-2 lakh crore,
respectively for the years 2012-13 and 2013-14, showing growth of 5-1 per cent during 2012-13,
and 6-9 per cent during 2013-14.
• At the aggregate level, nominal GVA at basic prices increased by 13-2 per cent during 2013-14, as
against 12-9 per cent during 2012-13 (Statement 1-1). In terms of real GVA, i.e., GVA at constant
(2011-12) basic prices, there has been a growth of 6-6 per cent in 2013-14, as against growth of 4-9
per cent in 2012-13.
• Nominal Net National Income (NNI) for the year 2011-12 stands at ^ 78-5 lakh crore, wrule the
estimates for the years 2012-13 and 2013-14 are Rs88-4 lakh crore and Rs100-6 lakh crore, showing
an increase of 12-7 per cent and 13-7 per cent during 2012-13 and 2013-14 respectively.
• Gross Saving during 2011-12 is estimated as ^ 29-9 lakh crore, and the estimates for the years
2012-13 and 2013-14 are Rs31-8 lakh crore and ^ 34-8 lakh crore respectively. Rate of Saving
toGNDI for the years 2011-12, 2012-13 and 2013-14 is estimated as 33-0 per cent, 31-1 per cent and
30-0 per cent respectively.
• Gross Capital Formation (GCF) at current prices is estimated as Rs33-7 lakh crore for the year
2011-12, while the estimates for both the years 2012-13 and 2013-14 stand at Rs36-6 lakh crore.
Since GCF did not increase during 2013-14, the rate to GDP declined during the year to 32-3 per
cent as against 36-6 during 2012-13.
• The rate of Gross Capital Formation at constant (2011-12) prices has decreased from 37-2 in 201213 to 33-4 in 2013-14.
• For the purpose of estimation of Per Capita Income and Per Capita Private Final Consumption
Expenditure (PFCE), Population Projections compiled on the basis of Census 2011 have been
used. Per Capita Income at current prices, estimated as Per Capita Net National Income at current
prices, is estimated at Rs 64316, Rs71593 and Rs80388 for the years 2011-12, 2012-13 and 2013-14
respectively.
• Correspondingly, Per Capita PFCE at current prices, for the years 2011-12, 2012-13 and 2013-14 is
estimated as Rs41728, Rs47572 and Rs 54133, respectively.
SukanyaSamriddhi Accounts Yojana
Prime Minister NarendraModi has launched a small deposit scheme for girl child, as part of the
'BetiBachaoBetiPadhao' campaign, which would fetch an interest rate of 9-1 per cent and also provide
19
income tax rebate.' SukanyaSamriddhi Account' can be opened at any time from the birth of a girl child
till she attains the age of 10 years, with a minimum deposit of Rs 1000. A maximum of Rs 1-5 lakh can
be deposited during one financial year. The account can be opened in any post office or authorised
branches of commercial banks.
Higher rates of interest at 9-1 per cent is proposed to be given on the deposits on annually compounded
basis with income tax concession in this financial year. The account will remain operative for 21 years
from the date of opening of the account or marriage of the girl child after attaining 18 years of age.
To meet the requirement of higher education expenses, partial withdrawal of 50 per cent of the balance
would be allowed after the girl child has attended 18 years of age. The provision of not allowing
withdrawal from the account till the age of 18 has been kept to prevent early marriage of girls.
The highlights of this scheme can be summed up as follows :
• Rate of interest 9-1% Per Annum (2014-15), calculated on yearly basis, Yearly compounded.
• Minimum INR. 1000 and Maximum INR. 1,50,000 in a finan-cial year. Subsequent deposit in
multiple of INR 100 Deposits can be made in lumpsum No limit on number of deposits either in a
month or in a Financial year.
• A legal Guardian/Natural Guardian can open account in the name of Girl Child.
• A guardian can open only one account in the name of one girl child and maximum two accounts
in the name of two different Girl children.
• Account can be opened up to age of 10 years only from the date of birth. For initial operations of
Scheme, one year grace has been given. With the grace, Girl child who is born between 2.12.2003
& 1.12.2004 can open account up tol.12.2015.
• If minimum Rs 1000 is not deposited in a financial year, account will become discontinued and
can be revived with a penalty of Rs 50 per year with minimum amount required for deposit for
that year.
• Partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial
year can be taken after Account holder's attaining age of 18 years.
• Account can be closed after completion of 21 years.
• If account is not closed after maturity, balance will continue to earn interest as specified for the
scheme from time to time.
• Normal Premature closer will be allowed after completion of 18 years/provided that girl is
married.
India Retains Fourth Rank in World Steel Production
According to data compiled by World Steel Association(WSA), India has retained its fourth rank in
20
world steel production with a total production of 83-20 million tonnes (MT). India remained the world's
fourth-largest steel producing nation for the fifth year in a row in 2014. In fact, there was no change in
the world ranking of steel production in the past year with China remaining at the top, Japan second
and the US at the third position, producing 822-7 MT, 110-66 MT and 88-34 MT of steel, respectively.
India was at the third position in 2009, but it has been at the fourth place since 2010.
The country steel production was 68-97 MT in 2010, 73-47 MT in 2011, 77-26 MT in 2012 and 81-29 MT in
2013. Steel production in India has been on the rise but there has been no change in its production
ranking in the world.
India's present installed steel manufacturing capacity is around 100 MT. Almost all leading producers
are raising their capacities aimed at cashing in on the wide gap between output and potential increase in
the per capita consumption.
Compared to world's average per capita steel use of 225 kg in 2013, India's usage was at just 57-8 kg.
Domestic steel makers are pinning hope on the proposed infrastructure spends of the government.
During 2014, world's steel production stood at 1,661 MT, up 1-2 per cent from 1,642 MT produced in
2013. Contribution from Asia was the highest at 1,132 MT followed by Europe at 313 MT, North America
(121 MT), South America (45 MT), Africa (16 MT), the Middle East (28 MT) and Australia/New Zealand
(5-5 MT), respectively.
Union Government Launched National Heritage Development and Augmentation Yojana (HRIDAY)
Union government has launched a Heritage City Development and Augmentation Yojana (HRIDAY)
scheme to preserve and rejuvenate the rich cultural heritage of the country. Union governments
ambitious Rs500 crore HRIDAY project was launched by Urban Development Minister Venkaiah Naidu
in New Delhi. In the initial phase, 12 heritage cities have been identified which will be rejuvenated and
developed under HRIDAY.
The identified 12 cities are: Amritsar, Varanasi, Gaya, Puri, Ajmer, Mathura, Dwarka, Badami,
Velankanni, Kanchipuram, Waran-gal and Amaravati.
HRIDAY-Heritage City Deve-lopment and Augmentation Yojana aims to bring urban planning, economic growth and heritage conser-vation together for heritage cities. It also seeks beautification in an
inclusive and integrated manner with focus on cleanliness, livelihoods, skills, safety, security,
accessibility and faster service delivery of heritage cities. Heritage Management Plan (HMP) will be
prepared for the identified cities which will outline heritage resources and develop policies to guide
their conservation, restoration, future use and development. It will seek to improve last-mile
connectivity heritage sites by documentation, conservation of areas, providing more facilities for
women, senior citizens and differently abled citizens. HRIDAY will be dovetailed with the Tourism
21
Ministry's Pilgrimage Rejuvenation and Spiritual Augmentation Drive (PRASAD) scheme which has an
outlay of Rs100 crore for augmentation of infrastructure at pilgrimage sites across the country.
Highlights of HRIDAY are :
• HRIDAY seeks to promote an integrated, inclusive and sustain-able development of heritage
sites, focusing on maintenance of monuments and on advancement of the entire ecosystem.
• In the initial phase of HRIDAY, 12 heritage cities have been identified which will be rejuvenated
and developed. Union Government will provide Rs500 crore to these 12 cities.
• The scheme will be completely funded by union Government to create infrastructure and provide
facilities around the heritage sites to attract more tourists.
Lithuania Joins Euro Club as 19th Member
The new year 2015 brings a new currency for Lithuania as it has joined the euro w.e.f. January 2015,
following its Baltic neighbours Estonia and Latvia into the currency block. Some Lithuanians fear price
rises, but opinion polls point to growing optimism towards the euro. With Lithu-ania's entry the
eurozone now has 19 members. Government officials believe the euro will not only boostinvestment but
will also bring deeper integration with the West.
Government to infuse Rs6,990 crore in 9 Public Sector Banks
The Finance Ministry has decided to infuse Rs6,990 crore of capital into nine public sector banks based
on new criteria where banks would be "rewarded" with capital infusion based on their performance and
efficiency. According to the statement of Ministry of Finance, this year, the government of India has
adopted a new criteria in which the banks which are more efficient would only be rewarded with extra
capital for their equity so that they can further strengthen their position. This is the first tranche of
capital infusion for which the government had allocated Rs11,200 crore in the Budget for 2014-15.
Among the beneficiaries, largest public sector lender SBI leads the pack with a capitalisation of Rs2,970
crore, followed by Rs1,260 crore to Bank of Baroda, X 870 crore to Punjab National Bank and ^ 570 crore
to Canara Bank.
Buffer Norms for Foodgrains Revised
The Cabinet Committee on Economic Affairs (CCEA) has approved to raise buffer foodgrain stocks with
the Food Corporation of India, to cater to the rising needs of Targeted Public Distribution System (TPDS)
due to the implementation of the Food Security Act.
As per revised norms, the FCI will have to keep more grain rice and wheat in July and October, when
the grain stocks held with it would usually be at higher levels.
The revised buffer norm for April 1 is 21-04 million tonnes of wheat and rice as against the present 21-2
million tonnes. For July 1, it is 41-12 million tonnes as against 31-9 million tonnes. On October 1, the
22
stock should be 30-77 million tonnes as against 21-2 million tonnes and on January 1, it should be 21-41
million tonnes as against 25 million tonnes. The buffer will include five million tonnes of strategic
reserves of wheat and rice.
The government has constituted an inter-ministerial group (IMG) consisting of secretaries of the
department of food and public distribution, expenditure and consumer affairs, to ensure better
management of food stocks in the country.
Indian Banking Brands Shine on the Global Stage
India's top banks have regained their earlier glory in the 2014 by adding 61 per cent to brand value,
shows a study by valuation consultancy firm, Brand Finance. The study, Brand Finance Banking 500,
reveals the total value of banking brands from India exceeds those from Russia, Italy, Sweden and South
Korea. India ranks 13th globally in 2015, compared with 17th in 2014. Also, India's bank brands are the
second-fastest-growing ones worldwide. Brand Finance calculates the value by determining the royalty
a corporation would have to pay to license its brand if it did not own it; this is referred to as the 'royalty
relief method.
The brand value of State Bank of India (SBI), the country's largest lender, has increased by $ 2-5 billion,
or 62 per cent over 2014, to $ 6-56 billion in 2015. This has helped the bank improve its global ranking to
40 from 54 in 2014. SBI is also India's most valued banking brand.
An estimated 12-5 million customerstransacted through the bank's mobile platform in 2014, compared
with 8-57 million the previous year. The average transaction amount has increased to over Rs7,000 last
year, indicating mobile is fast becoming a significant force in retail banking business.
ICICI Bank and HDFC Bank, India's next two most valuable banking brands, have also improved their
respective brand values and global rankings. ICICI Bank, India's largest private lender, now ranks 80th
globally, compared with 107th in 2014; HDFC Bank's international rank has improved from 133 to 104
during this period.
According to the study, while a few other US banks have registered growth in brand value Citi and
Chase, both up seven per cent, for example-others like Bank of America (-4 per cent), Goldman Sachs (- 7
per cent) and J.P. Morgan (- 15 per cent) have seen their brand value declining.
Brand Finance's research shows Chinese banks have maintained their strong growth. ICBC has moved
from the sixth position and now, having pushed HSBC to the third position globally, ranks second.
China Construction Bank, which has overtaken HSBC in terms of market capitalisation, has seen its
brand value grow by 39 per cent, allowing it to overtake Citi, Bank of America and Chase. Spain's
Santander has been pushed to the bottom of the top 10 by Bank of China and Agricultural Bank of China
Bankruptcy Panel Report Seeks Changes in Cos Act
23
A government panel headed by T. K. Viswanathan (2015) suggested changes in laws for developing an
effective corporate insolvency regime, to improve India's rank in the ease of doing business index. The T.
K. Viswanathan committee, constituted by the finance ministry, submitted its report on February 10,
2015, is in favour for the replacement of the Board of Industrial and Financial Reconstruction (BIFR). The
panel was set up to find ways to ensure early detection and resolution of financial distress in companies
and protect stakeholder interest, among others
Pockets:ICICI Bank's Answer to Payments Banks
India's largest private sector lender, ICICI Bank, has launched an e-wallet called 'Pockets', which can do
everything a payments banks can do. 'Pockets' is a mobile application, which can be used to send
money, pay utility bills, book movie tickets, send gifts and share expenses. One can use this service even
if one doesn't have an ICICI Bank account. With this app, one can also open a zero-balance account.
Payments banks can accept deposits up to Rs 1 lakh, offer current and savings account deposits, issue
debit cards and provide internet banking. According to RBI regulations, the maximum amount a
consumer can keep in the e-wallet is Rs10,000. The upper limit on a transaction set by the bank is
Rs5,000.
National Food Security Act may Increase the Food Subsidy Bill
The committee, headed by Shanta Kumar, for reform of the Food Corporation of India (FCI), had
recommended lowering of coverage to 40 per cent of the population, against the 67 per cent under the
food Act at present. It also called for increasing the allocation of food-grains to seven kg for each
identified beneficiary, against five kg currently.
For 2014-15, the subsidy on food was estimated to be around Rs1,15,000crore. Of this, around Rs4,000
was on account of sugar alone. But the actual requirement for the year is already estimated to have
exceeded ^ 1,50,000crore. If the food Act is implemented in full, the subsidy is projected to zoom to
around a minimum Rs1,60,000crore
The Act guarantees a minimum of five kg of either wheat or rice or coarse cereals to each identified
beneficiary per month, at a subsidised price of Rs3 a kg for rice, Rs2 a kg for wheat and Rs1 a kg for
coarse cereals.
The present PDS is based on beneficiaries identified in 1992-93. According to this classification, PDS
grains are distributed through ration shops to around 180-4 million families 65-2 million of those below
poverty line. Assuming that each family has 4-5 members, the current PDS broadly covers 81T8 million
people.
Economic Survey 2014-15
Finance Minister ArunJaitley tabled Economic Survey 2014-15 report in the LokSabha on February 27,
24
2015.Economic growth of India in the survey has been projected at 8-5 per cent for the year 2015-16.
India must adhere to medium-term fiscal deficit target of 3 per cent of the country's gross domestic
product (GDP)
Economic Survey 2014-15 - Highlights
•
Economy to grow in the range of 8.1 to 8.5% in 2015-16; double digit growth trajectory now a
possibility in the coming years
•
Inflation down by over 6 percentage points since late 2013
•
The current account deficit to decline from a peak of 6.7% of GDP (in Q3, 2012-13) to about one
percent in the coming fiscal
•
Medium-term target of 3% fiscal deficit must be adhered to
•
External Sector is returning to thepathof strength and resilience
•
Foreign portfolio flows have stabilised the rupee
•
Foodgrains production at 257.07 million tonnes during 2014-15 will exceed last 5-year average by
8.5 million tonnes
•
Infrastructure growth in terms of eight core industries higher than industrial growth since 201112
•
Services sector clocks double digit growth of 10.6% ' in the current fiscal
•
Skill development and employment major challenges
•
Labour, capital, land, market reform and skills to be growth drivers A
•
Need to focus on female literacy and education Source: Economic Survey 2014
Broad Outlines : At a Glance
• Macroeconomic fundamentals have dramatically improved in 2014-15.
• India must meet its medium-term fiscal deficit target of 3 per cent of GDP.
• Government will adhere to fiscal deficit target of 4.1 per cent of GDP in 2014-15.
• Govt should ensure expenditure control to reduce fiscal deficit.
• Expenditure control and expenditure switching to investment key.
• 2015-16 GDP growth seen at over 8 per cent y/y.
• Double digit economic growth trajectory now a possibility.
• Economic growth at market prices seen between 8.1-8.5 per cent in 2015/16 on new GDP
calculation formula.
• Total stalled projects seen at about 7 per cent of GDP/ mostly in private sector.
• Inflation has declined by over 6 percentage points since late 2013. Consumer inflation in 2015-16
likely to range between 5-5.5 per cent.
25
• Current Account Deficit estimated at about 1.3 per cent of GDP in 2014-15 and less than 1.0 per
cent of GDP in 2015-16.
• Foreign portfolio flows have stabilized the rupee.
• After a nearly 12-quarter phase of deceleration, real GDP has been growing at 7.2% since 2013-14,
based on the new growth estimates of theCentral Statistics Office.
• Notwithstanding the new estimates, the balance of evidence suggests that India is a recovering,
but not yet a surging economy.
• Foodgrain output in 2014-15 at 257.07 million tonnes will exceed the average production of last 5
years by 8.5 million tonnes.
•
Going forward inflation is likely to remain in the 5-5.5% range, creating space for easing of
monetary conditions.
• Using the new estimate for 2014-15 as the base, GDP growth at constant market prices is expected
to accelerate to between 8.1 and 8.5 per cent in 2015-16.
• Private investment must be the engine of long-run growth.
• There is a case for reviving targeted public investment as an engine of growth in the short run to
complement and crowd-in private investment.
• India faces an export challenge, reflected in the fact that the share of manufacturing and services
exports in GDP has stagnated in the last five years.
• External Sector is returning to the path of strength and resilience.
• India must adhere to the medium-term fiscal deficit target of 3 per cent of GDP.
• India must move toward the golden rule of eliminating revenue deficits.
• Expenditure control with growth recovery and GST will ensure that medium-term targets are
met.
• The quality of expenditure needs to be shifted from consumption to investment.
• Inflation shows a declining trend during the year 2014-15 (April-December).
• The direct fiscal cost of all the subsidies is roughly ? 378,000 crore or 4.2 per cent of 2011-12 GDP.
• Fiscal, revenue and primary deficits show a declining trend.
• The stock of stalled projects stands at about 7% of GDP, accounted for mostly by the private
sector.
• Manufacturing and infrastructure account for most of the stalled projects.
• Expectation that the private sector will drive investment needs to be moderated.
• Public investment may need to step in to ramp up capital formation.
• Indian banking balance sheet is suffering from 'double financial repression'.
26
• Going forward, capital markets and bond-financing need to be given a boost.
• Private sector banks did not partake in the biggest private-sector-fuelled growth episode in
Indian history during 2005-12.
• Growth rate of over 8 % expected for the coming year 2015-16
Union Budget 2015-16
The first full year budget of Modi Government was presented by Union Finance Minister Mr.
ArunJaitley in LokSabha on February 28, 2015. Union Budget 2015-16 marks the dawn of 'Cooperative
federalism' and 'empowerment of the States'. The creation of National Institution of Transforming India
(NITI) and acceptance of 14th Finance Commission's (FFC) recommendation of substantially higher
devolution of Union taxes to States are landmarks in this direction.
India has become the fastest growing large economy in the World with a real GDP growth expected to
be 7.4% (New Series)
Budget Estimates
• Non-Plan expenditure estimatesfor the Financial Year are estimated at Rs13,12,200crore.
• Plan expenditure is estimated to be Rs4,65,277 crore, which is very near to the R.E. of 2014-15
• Gross Tax receipts are estimated Mo be Rs14,49,490crore.
• Devolution to the States is esti-mated to be Rs5,23,958.
Deficits : At a Glance
•
Fiscal deficit target at 3.9% of GDP for the year 2015-16.
•
Revised fiscal deficit for 2014-15 at 4.1% of GDP.
•
Revenue deficit target at 2.8% of GDP for the year 2015-16.
•
Revised Revenue deficit for 2014-15 at 2.9% of GDP.
•
Effective Revenue deficit target at 2.0% for the year 2015-16.
•
Revised Effective revenue deficit target at 1.8% of GDP for 2014-15.
•
Primary Deficit target at 0.7% for the year 2015-16.
•
Revised Primary deficit at 0.8% for 2014-15
AmrutMahotsavVision : The Year 2022, 75th Year of Independence
•
Housing for all - 2 crore houses in Urban areas and 4 crore houses in Rural areas.
•
Basic facility of 24 x 7 power, clean drinking water, a toilet and road connectivity.
•
At least one member has access to means for livelihood.
•
Substantial reduction in poverty.
•
Electrification of the remaining 20,000 villages including off-grid Solar Power- by 2020.
•
Connecting each of the 1,78,000 unconnected habitation.
27
•
Providing medical services in each village and city.
•
Ensure a Senior Secondary School within 5 km reach of every child, while improving quality of
education and learning outcomes.
•
To strengthen rural economy -increase irrigated area, improve the efficiency of existing irrigation
systems, and ensure value addition and reasonable price for farm produce.
•
Ensure communication connectivity to all villages.
•
To make India, the manufacturing hub of the World through Skill India and the Make in India
Programmes.
•
Encourage and grow the spirit of entrepreneurship to turn youth into job creators.
•
Development of Eastern and North Eastern regions on.par with the rest of the country.)
Agriculture
•
Major steps take to address the two major factors critical to agri-cultural production, that of soil
and water.
•
'Paramparagat’ KrishiVikasYojana' to be fully supported.
•
'Pradhanmantri Gram SinchaiYojana' to provide 'Per Drop More Crop'.
•
Rs
5,300crore
to
support
micro-irrigation,
watershed
development
and
the
'PradhanMantriKrishiSinchaiYojana'. States urged to chip in.
•
Rs 25,000 crore in 2015-16 to the corpus of Rural Infrastructure Development Fund (RIDF) set up
in NABARD; Rs 15,000 crore for Long Term Rural Credit Fund; Rs 45,000 crore for Short Term
Cooperative Rural Credit Refinance Fund; and Rs 15,000 crore for Short Term RRB Refinance
Fund.
•
Target of Rs 8.5 lakh crore of agricultural credit during the year 2015-16.
•
Focus on improving the quality and effectiveness of activities under MGNREGA.
•
Government to work with States, in NITI, for the creation of a Unified National Agriculture
Market.y
Funding Agency-MUDRA
•
Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of Rs 20,000crores,
and credit guarantee corpus of Rs 3,000 crores to be created.
•
MUDRA Bank will be responsible for refinancing all Micro-finance Institutions which are in the
business of lending to such small entities of business through a o PradhanMantri Mudra Yojana.^
•
A Trade Receivables Discounting System (TReDS) which will be an electronic platform for
facilitating financing of trade receivables of MSMEs to be established.
Social Schemes
28
•
PradhanMantriSurakshBimaYojna to cover accidental death risk of Rs 2 lakh for a premium of
just Rs 12 per year.
•
Atal Pension Yojana to provide a defined pension, depending on the contribution and the period
of contribution. Government to contribute 50% of the beneficiaries' premium limited to Rs1,000
each year, for five years, in the new accounts opened before 31st December, 2015.
•
PradhanMantriJeevanJyotiBimaYojana to cover both natural and accidental death risk of Rs2 lakh
at premium of Rs330 per year for the age group of 18-50.
•
A new scheme for providing Physical Aids and Assisted Living Devices for senior citizens, living
below the poverty line.
•
Rs1000 crores to the Nirbhaya Fund.
Infrastructure
•
Sharp increase in outlays of roads and railways. Capital expenditure of public sector units to also
go up.
•
National Investment and Infrastructure Fund (NIIF), to be established with an annual flow of
Rs20,000 crores to it.
•
Tax free infrastructure bonds for the projects in the rail, road and irrigation sectors.
•
Atal Innovation Mission (AIM) to v be established in NITI to provideInnovation Promotion
Platform involving academicians, and drawing upon national and inter-national experiences to
foster a culture of innovation, research and development. A sum of Rs150 crore will be
earmarked.
•
(SETU) Self-Employment and Talent Utilization) to be established as Techno-financial, incubation
and facilitation programme to support all aspects of startup business. Rs1000 crore to be set aside
as initial amount in NITI.
•
Ports in public sector will be encouraged, to corporatize, and become companies under the
Companies Act to attract investment and leverage the huge land resources.
•
5 new Ultra Mega Power Projects, each of 4000 MW, in the Plug-and-Play mode
Monetising Gold
•
Gold monetisation scheme to allow the depositors of gold to earn interests in their metal accounts
and thejewellers to obtain loans in their metal account to be introduced.
•
Sovereign Gold Bond, as an alternative to purchasing metal gold scheme to be developed.
•
Commence work on developing an Indian gold coin, which will carry the Ashok Chakra on its
face.
Investment
29
•
Foreign investments in Alternate Investment Funds to be allowed.
•
A project development company Vio facilitate setting up manufacturing hubs in CMLV countries,
namely, Cambodia, Myanmar, Laos and Vietnam
Energy
•
Target of renewable energy capacity revised to 175000 MW till 2022, comprising 100000 MW
Solar, 60000 MW Wind, 10000 MW Biomass and 5000 MW Small Hydro
Skill India
•
Less than 5% of our potential ^ work force gets formal skill training to be employable. A national
skill mission to consolidate skill initiatives spread accross several ministries to be launched.
•
DeenDayalUpadhyayGraminKaushalYojana to enhance the employability of rural youth.
• A student Financial Aid Authority to administer and monitor the front-end all scholarship as well
Educational Loan Schemes, through the PradhanMantriVidya Lakshmi Karyakram.
• An IIT to be set up in Karnataka and Indian School of Mines, Dhanbad to be upgraded in to a fullfledged IIT.
•
New All India Institute of Medical Science (AIIMS) to be set up inJ&K, Punjab, Tamil Nadu,
Himachal Pradesh and Assam. Another AIIMS like institutions to be set up in Bihar.
•
A post graduate institute of Horticulture Research & Education is to be set up in Amritsar.
•
3 new National Institute of Pharmaceuticals Education and Research in Maharashtra, Rajasthan &
Chhattisgarh and one institute of Science and Education Research is to be set up in Nagaland
&Odisha each.
Important Tax Proposal
• No change in rate of personal income tax.
• Proposal to reduce corporate tax from 30% to 25% over the next four years, starting from next
financial year.
• Rationalisation and removal of various tax exemptions and incentives to reduce tax disputes and
improve administration.
• Exemption to individual tax payers to continue to facilitate savings.
• Rate of Income-tax on royalty and fees for technical services reduced from 25% to 10% to facilitate
technology inflow.
•
Wealth-tax replaced with additional surcharge of 2 per cent on super rich with a taxable income
of over Rs1 crore annually.
•
General Anti Avoidance Rule (GAAR) to be deferred by two years.
•
GAAR to apply to investments made on or after 01.04.2017, when implemented
30
Excise Duty
•
Service-tax plus education cesses increased from 12.36% to 14% to facilitate transition to GST
•
Donation made to National Fund for Control of Drug Abuse (NFCDA) to be eligible for 100%
deduction u/s 80G of Income-tax Act.
•
Basic Custom duty on certain inputs, raw materials, inter mediates and components in 22 items,
reduced to minimise the impact of duty inversion.
•
100% deduction for contributions, other than by way of CSR contribution, to Swachh Bharat Kosh
and Clean Ganga Fund.
•
Clean energy cess increased from Rs 100 to Rs 200 per metric tonne of coal, etc. to finance clean
environment initiatives.
•
Excise duty on sacks and bags of polymers of ethylene other than for industrial use increased
from 12% to 15%.
•
Enabling provision to levy V Swachh Bharat cess at a rate of 2% or less on all or certain services, if
need arises.
•
Services by common affluent treatment plant exempt from Service-tax.
•
Concessions on custom and excise duty available to electrically operated vehicles and hybrid
vehicles extended upto 31.03.2016.
•
Limit of deduction of health insurance premium increased from 15000 to 25000, for senior citizens
limit increased from Rs 20000 toRs 30000.
•
Senior citizens above the age of 80 years, who are not covered by health insurance, to be allowed
deduction of Rs 30000 towards medical expenditures.
•
Deduction limit of 60000 with respect to specified decease of serious nature enhanced to Rs 80000
in case of senior citizen.
•
Additional deduction of Rs 25000 allowed for differently abled persons.
•
Limit on deduction on account of contribution to a pension fund and the new pension scheme
increased from Rs 1 lakh to Rs 1.5 lakh.
•
Additional deduction of Rs 50000 for contribution to the new pension scheme u/s 80CCD.
•
Payments to the beneficiaries including interest payment on deposit in SukanyaSamriddhi
scheme to be fully exempt.
•
Service-tax exemption on VarishthaBimaYojana.
Railway Budget 2015-16
Railway Minister Suresh Prabhu presented the Rail Budget 2015-16 in the LokSabha on February 26,
2015. Railway Minister in his first Rail Budget announced a record investment plan of over Rs1 lakh
31
crore in 2015-16 while sparing the passengers of a fare hike.
No announcement of any new train was another important highlight of Rail Budget 2015-16 which
happened to be first time.
Railways Minister also presented a white paper on Indian Railways which, according to him, will form a
trilogy of what plans he had in mind for one of the largest such networks in the world along with his
budget for 2015-16 and a Vision 2030 document to be presented later in the year. He also set four goals to
transform Indian Railways : Improved customer experience, safer travel, modern infrastructure and
financial self-sustainability. Railway has also decided create a separate department for taking care of
cleanliness.
Highlights of Mr. Prabhu's Railways Budget 2015-16
•
No increase in passenger fares
• No new trains announced
• Tickets can be booked 120 days in advance instead of 60 days to tackle tout menace
•
Outlay for passenger amenities increased by 67%
• Plan expenditure to go up to a record 1 lakh crore in 2015-16 from an estimated 61,500 crore in
2014-15.
• Central government outlay likely at 41 per cent 45,100 crore) in 2015-16
• To introduce train sets saving 20% of journey time, similar to bullet trains in design, and that can
run on existing tracks
• The speed passenger trains across nine corridors will be increased to 160-200 km from 110 km
• SMS alert to be introduced for train timings
• To introduce air-conditioned coaches for suburban trains
• Wi-Fi to be available at 400 railway stations
• To revamp station redevelopment policy completely
• To have bidding system for redevelopment of stations
• To develop 10 satellite railway stations this year
•
800 km of gauge conversion will be commissioned
• E-catering introduced in 108 trains, can order on IRCTC website
• To expand water vending machines on more stations
• On-board entertainment facility could be extended on Shatabdi trains
• Mobile charging stations will be introduced general class coaches
• More general class coaches will be added to select trains for benefit of the common man
• Railways plans to spend over 8 lakh crore over five years
32
• Pension funds, multi-lateral banks have evinced interest in Railways
• Proposed the best operating ratio in nine years, of 88.5 per cent for 2015-16
• Railways to go through transformation in five years; to increase track capacity by 10 per cent to
1.38 lakh kilometres
• Feasibility report of high speed train between Mumbai and Ahmedabad expected by mid-2015
• Wagon-making scheme to be reviewed to make it easier for private investment
• To improve cleanliness & design of bed linen
•
All India 24x7 grievances helpline 138 to start soon
• 7,000 more toilets to be replaced by Bio-Toilets, New toilets at 650 stations, more vacuum toilets
• Passenger travelling unreserved can procure a ticket within 5 minutes
•
Mobile application to address complaints of people is also being developed
• Introduction of integrated ticketing will be done
•
Hand-held devices for ticket checkers for moving towards paperless ticketing
• Centrally managed railway display network in over 2000 stations in next 2 years
•
Railways will play a big role in socio-economic development of the country
•
Railways carry a big burden of expectations
•
Investments in railways will have multiplier effect
•
Railways facilities have not improved significantly over last few years
• The cycle of under-investment should end
• Railways has to regain in share in freight traffic
•
Railways aims to deliver a sustainable improvement in customer experience and make rail a safer
means of travel
• Objective is to make Railways self-sustainable
•
Rail-cum-road ticket to be extended to many stations
• Commitment to provide rail connectivity to North Eastern states
• Transport Logistic Corporation of India to be set up to aid expanding freight handling capacity
and provide end-to-end logistic solutions
•
PPP model will help to augment resources and generate more employment
• 6608 kms of track to be electrified
•
Projects worth 96,182 crore to expand capacity of 9,420 km rail lines
• CCTVs to be introduced in select trains and suburban trains for women safety
• Train Protection Warning System, Train Collision Avoidance System
• Projects for rail connectivity to many ports and mines
33
• To monetize assets rather than sell them
• To set up full-fledged Railway University in FY16
• 2000 crore for Coastal Connectivity Program; 2500 crore through BOT/ Annuity route
•
Drawing up comprehensive policy to tap latent advertising potential
•
Online application for all recruitment process 0 To impart soft skills to our staff we intend to
impart regular training
• 917 safety work projects to eliminate over 3,000 unmanned crossings in all states
•
PPP cell to be revamped to make it result oriented
• Railways can't function as business as usual mode
• To set up infra fund, IV with IRFC for long-term funding
The key themes of the Budget were in line with Prime Minister NarendraModi's initiatives-Swachch
Bharat Mission, Make in India and Digital India. Broad basic notable features of the Railways Budget
2015-16 are :
• Relief to common man : No increase in passenger fares of any class.
• Freight not spared : Rates hiked 10% for urea, 2.7% for cement and 6.3% for coal, 0.8% for iron
and steel.
• Operations : Operating ratio to improve to 88.5% in 2015-16 compared with targeted 91.8% in
2014-15.
• Finances : Five-year outlay at Rs 8.5 lakh crore; Plan expenditure in Railways to be hiked 52%
to Rs 1.11 lakh crore for 2015-16; 77 projects totaling Rs 96,182 crore on cards to expand
capacity.
• Largesse for Mumbaikars : MUTP-III to be taken up, Air-conditioned coaches on the cards on
Suburban network, feasibility on Mumbai-Ahmedabad highspeed train at advanced stage.
• Safety :Rs 6,581 crore earmarked on level crossing safety; train protection warning system to
prevent fires; collision avoiding system; 917 safety work projects to eliminate over 3,000
unmanned crossings in all states; Audio visual warning, radio based signals design,
unmanned level crossing on cards to enhance safety; Five years safety plan will be ready by
June 2015; Surveillance camera on cards for women's safety, financing from Nirbhaya fund.
• Efficiency : Speed of 9 rail corridors to be improved to 160-200 kmph from current 110-130
kmph; speed on empty freight trains be increased to 100 km, and 75 km for loaded trains;
Bullet-like trains on the cards that can run on existing tracks.
• Modernisation : 6,000 km of route km to be electrified in 2015-16, up from 462 route km in
2014-15; 800 km of gauge conversion on cards.
34
• Convenience : Proposes to move towards paperless ticketing ; Now, tickets can be booked 120
days in advance; Rs 120 crore provided for lifts and escalators at Railway stations; Phone
charging facilities will also be provided in sleeper class; Online booking of wheelchairs for
seniors, physically challenged passengers; Food can be ordered through IRCTC website while
booking tickets, Wi-Fi availability at B class stations too; To introduce operation 5 minutes to
allow unreserved passengers to book tickets in 5 minutes
• Cleanliness : 17,000 toilets to be replaced and modernised; vacuum-based toilets on cards; new
toilets in 650 railway stations; Railways will set up waste management plants to dispose off
waste; will work on Swacch Rail in lines with Swacch Bharat.
Anil Kumble and Betty Wilson Inducted into ICC Hall of Fame
India's legendary spinner and former skipper Anil Kumble and Australian women's cricket legend Betty
Wilson who passed away on January 22, 2010 were inducted into the prestigious International Cricket
Council (ICC) Hall of Fame on February 22, 2015 at the Melbourne Cricket Ground (MCG), Melbourne
Anil Kumble is the fourth Indian to bVdecorated with this Honour after1 Sunil Gavaskar, KapilDev and
Bishan Singh Bedi. Kumble represented India in 132 Tests as a leading spinner with 619 test wickets to
his credit. He is the third most successful Test bowler after Muralitharan (800) and Shane Warne (708).
He is also the second man in Test cricket to take 10 wickets in an innings when he took 10 wickets of
Pakistan in 1999 in Delhi in an innings.
Kumble and Betty Wilson are the 77th and 78th members of ICC Hall of Fame respectively
Chris Gayle Scores World Cup's First Individual Double Century
Chris Gayle scripted a new chapter in cricket history along with many records when he scored ICC
World Cup's first individual double century on February 24 in Canberraduring the World Cup Pool 'B'
match between the West Indies and Zimbabwe. West Indies' explosive opener Gayle scored 215 runs
containing 16 sixes and 10 fours in 147-ball knock and helped West Indies win the match against
Zimbabwe by 73 runs in an emphatic manner.
Yuvraj Emerges Costliest Player in IPL-8 Player Auction
The Indian Premier League Player's auction ceremony for season 8 took place on February 16, 2015 at the
LTC Gardenia Hotel, in Bengaluru. Yuvraj Singh emerged the costliest-ever buy in the IPL this year by
going for a whopping Rs16 crore to Delhi Daredevils. He continued to be the leading draw at IPL
auctions after fetching a hefty Rs14 crore from Royal Challengers Bangalore in 2014. Wicket - keeper batsman Dinesh Karthik was another player, who commanded a massive price, going to RCB for Rs1050 crore. Sri Lankan skipper Angelo Mathew (Rs7-5 crore to Delhi Daredevils)in this year's IPL Player
auction.
35
Australia Emerges Asian Cup Champion
Australia defeated South Korea 2-1 in a thrilling final on January 31, 2015 in Sydney to clinch its maiden
Asian Cup Football crown
Massimo Luongo of Australia was named the most valuable player of the 2015 Asian Cup Football
Championship. It was the first Asian Cup final of South Korea since 1988 and Australia's title victory
prolonged its wait for the Asian Cup. South Korea has not won the Asian Cup since 1960
AnirbanLahiri Wins Indian Open Golf Title
India's AnirbanLahiri clinched his maiden $ 1-5 million Hero Indian Open Golf title on February 22,
2015, beating compatriot SSP Chowrasia in a playoff at Delhi Golf Club Course. It is Lahiri's second
European Tour title in two weeks after his Malaysian Open triumph
Lahiri Clinches Malaysian Open
AnirbanLahiri of India registered a single stroke victory over his nearest rival Bernd Wiesberger of
Austria to lift the Maybank Malaysian Open Golftitle on February 8, 2015 at Kuala Lumpur Golf &
Country Club in Kuala Lumpur. Lahiri carded a four-under-par 68 in the final round, taking his total to
16-under-par 272. This title victory may fetch Lahiri an invitation to Augusta Masters in April, this year.
Australian Open, 2015
Reasserting himself as the real king of the hard courts of Melbourne Park, top-seed Novak Djokovic of
Serbia clinched his fifth Australian Open Men's Singles title on February 1, 2015 at Rod Laver Arena,
Melbourne as he prevailed over Andy Murray 7-6(5), 6-7(4), 6-3, 6-0 in the final.
Category
Winner
Runner-up
Menʹs Singles
Novak Djokovic (Serbia)
Andy Murray (Scotland)
Womenʹs Singles
Serena Williams (USA)
Maria Sharapova (Russia)
Menʹs Doubles
Simone Bolelli and Fabio Fognini Nicolas
(Italy)
Mixed Doubles
and Pierre
Hugues Herbert (France)
Womenʹs Doubles BethanieMattek-Sands (USA) and Chan
Lucie Safarova (Czech Republic)
Mahut
Yung-Jan (Chinese Taipei)
and ZhengJie (China)
Leander Paes (India) and Martina Daniel Nestor (Canada) 1 and
Hingis (Switzerland)
Krishna Mladenovic/j (France)
Anand Clinches Zurich Chess Championship (Classical)
Five-time World Chess Cham-pion ViswanathanAnand of India on February 19 clinched the Zurich
Chess Classic title in classical section in Zurich, playing out an easy draw with Sergey Karjakin of Russia
in the fifth and final round to take his points tally on seven, one point ahead of Hikaru Nakamura of
36
USA. Nakamura finished the classical section of Zurich Chess Classic as runner-up in the six player
round-robin championship. Anand gained seven points in this format with two wins carrying two
points for each win and three draws. Anand also improved his Elo rating with this title win. Vladimir
Kramnik of Russia finished third having drawn all his five games in the classical format of the
championship.
Nakamura Wins Zurich Chess Classic
Hikaru Nakamura of the United States of America clinched the Zurich Chess Classic title on February 20
in a close fight with India's Anand who had to be content with a second-place finish in the
championship despite winning the classical format a day earlier. It was the second major title for
Nakamura this year after his title victory of Gibralter Masters
Ranchi Rays Clinches Hockey I India League-3
Ranchi Rays clinched the third edition of the Hero Hockey India League on February 22 in New Delhi,
pipping Jay pee Punjab Warriors 2-2 (3-2) in the tie-breaker in the summit clash.
• UP Wizards won the Fair Play Award.
• Harmanpreet Singh of Dabang Mumbai was adjudged the Most Promising Player of the
Tournament.
• Ashley Jackson was the top scorer of the tournament.
• Ranchi Rays is Indian cricket team Captain Mahendra Singh Dhoni's team in HIL.
35th National Games concluded in Kerela
35th National Games of India, 2015 came to an end on February 14 with a spectacular and glittering
closing ceremony at the Greenfield Stadium, Kariyavattom, Kerala. It is the second time that Kerala
hosted the national games. Kerala hosted the 27th National Games in 1987. This time, the 35th National
Games, which were launched by Union Minister of Urban Development Mr. Venkaiah Naidu on
January 31, 2015 at the Greenfield Stadium, were organised across seven districts of Kerala. Former
Indian Cricket team captain and global cricket icon Sachin Tendulkar was named the Goodwill
Ambassador of the games.
Services emerged the champion in the 35th National Games with 159 medals including 91 gold medals.
The services team topped the medals tally for the third consecutive time. The services' national games
championship was also marked by its best ever haul of 91 golds, 33 silver and 35 bronze medals. The
services won the 2011 National Games in Ranchi with 162 medals including 70 gold medals. Kerala
finished at second spot with 162 medals overall.
There were 33 sports disciplines in 2015 National Games in Kerala including the newly included event of
'Yachting'.
37
Mascot
Ammu, the Great Hornbill or the Great Indian Hornbill was the mascot of the 35th National Games. The
Great Indian Hornbill is also the state bird of Kerala. The selection of Ammu, the Great Hornbill as the
mascot of the 35th National Games carries a message of environment and nature conservation.
Kerala Governor Justice P. Sathasivam pre-sented the trophy for best performing state to Kerala's
Captain PreejaSreedharan. IOA President N. Ramachandran presented the Raja Bhalendra Singh Trophy
to the services team for being the overall medals tally topper.
Swimmers SajanPrakash (Kerala) and AakanshaVora (Maharashtra) were adjudged best performerin the
men's and women's sections.
Justice Sathasivam, in his address, touched upon the Olympic motto and asked sportspersons to uphold
the Olympic principles before declaring the Games closed.
The IOA flag was passed on by the IOA president to Gurudatta D. Bhakta, Secretary-General ofAmmu,
the Great Indian Hornbill. the Goa Olympic Association, the host of the next edition in 2019.
Sikkim, Nagaland, Lakshadweep, Dadra and Nagar Haveli and Puducherry finished the games without
any medal.
Medals Tally : Top Ten
Teams
G
S
B
T
Teams
G
S
B
T
SSCB:
91
33
35
159
Madhya Pradesh
23
27
41
91
Kerala
54
48
60
162
Manipur
22
21
26
69
Haryana
40
40
27
107
Tamil Nadu
16
16
20
52
Maharashtra
30
43
50
123
Gujarat
10
4
6
20
Assam
9
5
11
25
38

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