Dear all,
Welcome.
OECD: Due to increased consumption resulting in enhanced Capital investment, Indian economy could be back on track but the increase in the NPAs pose threat to it.
OECD had, in it's new report on economic scenario, stated that Asia's third biggest economy could have growth rate of 4.9% during the year 2014, which was 4.5% during the year(2013). During the year 2015, it could go upto 5.9%. The agency had estimated that after general elections, investment could increase & domestic consumption could increase due to price control. India is facing economic recession because investment is lowered since past 11 years. The Capital investment share is 35% & it had slightly increased after year ending March. OECD had stated that investment could rise after elections as CCI approved projects could be started. In this report, it was proposed for reforms in labour, finance & tax areas.
OECD had praised RBI's committee for bringing inflation down to 4% during next three years. The report states that due to inflation control, the price hike would be under check ,which would reinforce business opinion along with consumer belief.
However, OECD had expressed concern over increase in NPAs stating that it is dangerous for reforms. The economic sluggishness & high interest rate had made loan repayment difficult for Indian Banks. It had increased NPAs. The NPA & restructured loans is around 10,000 crore INR, which 10% of total loan. Fitch had estimated that by the year 2014, it could go upto 14%.
Court rulings:
1. Nursery admission: Supreme Court had released the stay on nursery admission and it would include InterState transfer Category of those persons who had challenged the order. It is to note that earlier Supreme Court had put stay on Delhi HC order which excluded interstate category students.
2. Supreme Court had ruled that govt. could not make mother language compulsory for linguistic minorities. The Constitutional Bench had stated that it could not be made compulsory for them. Also, RTE is held valid. Under it, 25% seats are to be reserved for economically weaker sections of the society. Arrangement was made after Southern Karnataka State govt. had made Class I to IV education compulsory in mother language or regional language. Earlier, the Justice Bench had ruled for Constitutional Bench to decide upon the issue.
3. Supreme Court had ruled that CBI doesnot require permission from govt. for investigating against top Officials. Corrupt officials are same. It is difficult to categorize them. The Act 6-A necessitated
permission, which is indirectly affecting investigation. If Preliminary enquiry is not done, how it could proceed further?
GoM: GoM constituted on tackling corruption had denied sharing of information under the RTI act. Under it, information was sought regarding GoM meeting date & details. Cabinet Secretariat had stated that such meetings records are exempted from Act 8[1][1]. GoM was asked to furnish a report on tackling corruption, election funding, Fast track Court hearing in such matter, transparency in Public procurement etc.
With regards,
M.K.Pachraiya
Original_app_mssg(1) West Bengal Elections
Welcome.
OECD: Due to increased consumption resulting in enhanced Capital investment, Indian economy could be back on track but the increase in the NPAs pose threat to it.
OECD had, in it's new report on economic scenario, stated that Asia's third biggest economy could have growth rate of 4.9% during the year 2014, which was 4.5% during the year(2013). During the year 2015, it could go upto 5.9%. The agency had estimated that after general elections, investment could increase & domestic consumption could increase due to price control. India is facing economic recession because investment is lowered since past 11 years. The Capital investment share is 35% & it had slightly increased after year ending March. OECD had stated that investment could rise after elections as CCI approved projects could be started. In this report, it was proposed for reforms in labour, finance & tax areas.
OECD had praised RBI's committee for bringing inflation down to 4% during next three years. The report states that due to inflation control, the price hike would be under check ,which would reinforce business opinion along with consumer belief.
However, OECD had expressed concern over increase in NPAs stating that it is dangerous for reforms. The economic sluggishness & high interest rate had made loan repayment difficult for Indian Banks. It had increased NPAs. The NPA & restructured loans is around 10,000 crore INR, which 10% of total loan. Fitch had estimated that by the year 2014, it could go upto 14%.
Court rulings:
1. Nursery admission: Supreme Court had released the stay on nursery admission and it would include InterState transfer Category of those persons who had challenged the order. It is to note that earlier Supreme Court had put stay on Delhi HC order which excluded interstate category students.
2. Supreme Court had ruled that govt. could not make mother language compulsory for linguistic minorities. The Constitutional Bench had stated that it could not be made compulsory for them. Also, RTE is held valid. Under it, 25% seats are to be reserved for economically weaker sections of the society. Arrangement was made after Southern Karnataka State govt. had made Class I to IV education compulsory in mother language or regional language. Earlier, the Justice Bench had ruled for Constitutional Bench to decide upon the issue.
3. Supreme Court had ruled that CBI doesnot require permission from govt. for investigating against top Officials. Corrupt officials are same. It is difficult to categorize them. The Act 6-A necessitated
permission, which is indirectly affecting investigation. If Preliminary enquiry is not done, how it could proceed further?
GoM: GoM constituted on tackling corruption had denied sharing of information under the RTI act. Under it, information was sought regarding GoM meeting date & details. Cabinet Secretariat had stated that such meetings records are exempted from Act 8[1][1]. GoM was asked to furnish a report on tackling corruption, election funding, Fast track Court hearing in such matter, transparency in Public procurement etc.
With regards,
M.K.Pachraiya
Original_app_mssg(1) West Bengal Elections
Nearly a quarter of the electorate voted in the first two hours
in West Bengal's Maoist heartland where elections are underway for six Lok
Sabha constituencies Wednesday, officials said. Simultaneous by-poll is being
held in the Kotulpur assembly constituency of Bankura district."Over 24
percent votes were cast till 9 am," an official said here.An electorate of
over 88.77 lakh, including 42 lakh women, is eligible to vote at 11,321
polling stations. Elections are taking place in Jhargram, Medinipur, Purulia,
Bankura, Bishnupur and Asansol.The political fate of 72 candidates will be
decided. Eleven of the contestants are women.The Trinamool, Left Front,
Congress and the Bharatiya Janata Party are in fray in all the
parliamentary constituencies.Of the Left Front partners, the Communist Party
of India-Marxist (CPI-M) is contesting four seats, leaving one each to the
Communist Party of India and All India Forward Bloc.In 2009, Left Front
candidates had bagged all the seats.The Asansol seat has generated Interest
among poll watchers where BJP candidate and
Bollywood singer Babul Supriyo is giving a tough fight to Trinamool's trade union president Dola Sen and sitting MP CPI-M's Bansa Gopal Choudhury.A stiff contest is in Bankura where nine-time CPI-M MP Basudeb Acharia is being challenged by Trinamool star candidate and legendary Bengali film heroine Suchitra Sen's actress daughter Moon Moon Sen.The focus is also on Jhargram - for long the epicentre of Maoist violence, and Purulia and Bankura, parts of which are affected by the Left extremism.
As many as three helicopters, with a medical support team onboard, have been pressed into service in the affected areas. Besides choppers, as many as 10 satellite phones are being used.Central security forces have been deployed across all booths in the Maoist belt.Bomb disposal squads, road opening party and anti-landmine vehicles too have been deployed in the Maoist areas.Meanwhile, the CPI-M has alleged that polling agents were beaten up or abducted in several areas. The Trinamool has denied such claims. -IANS
Bollywood singer Babul Supriyo is giving a tough fight to Trinamool's trade union president Dola Sen and sitting MP CPI-M's Bansa Gopal Choudhury.A stiff contest is in Bankura where nine-time CPI-M MP Basudeb Acharia is being challenged by Trinamool star candidate and legendary Bengali film heroine Suchitra Sen's actress daughter Moon Moon Sen.The focus is also on Jhargram - for long the epicentre of Maoist violence, and Purulia and Bankura, parts of which are affected by the Left extremism.
As many as three helicopters, with a medical support team onboard, have been pressed into service in the affected areas. Besides choppers, as many as 10 satellite phones are being used.Central security forces have been deployed across all booths in the Maoist belt.Bomb disposal squads, road opening party and anti-landmine vehicles too have been deployed in the Maoist areas.Meanwhile, the CPI-M has alleged that polling agents were beaten up or abducted in several areas. The Trinamool has denied such claims. -IANS
Original_app_mssg(2) MH370
Investigators hunting for Flight 370 (MAS)are seeking more sophisticated submarines to dive deeper into the Indian Ocean as private companies take a greater role in the search for the missing Malaysian plane.
The ocean floor will be mapped anew and tenders will be issued to procure new sub-sea vessels, Australia’s Deputy Prime Minister Warren Truss said today. The next phase may cost about A$60 million ($56 million) and discussions are needed withMalaysia and China on sharing the expense, Truss said. Meetings will start May 7 in Canberra, the Australian capital that’s the new headquarters of the operations, to analyze data collected and to discuss what assets are required and available.
Only a limited amount of equipment worldwide is up to the task of finding the Malaysian Airline System Bhd. jet and tenders will be issued to get them. Malaysia and China both vowed to continue with the hunt, the world’s longest for a missing passenger jet in modern aviation history.
The operation is “entering a new phase that will now be focused on intensifying the search of the ocean floor over a larger area,” according to a communique issued after the tripartite meeting. “While we are preparing for this new phase, dedicated vessels from Australia, Malaysia and China will continue maritime operations to maintain continuity and momentum,” it said.
Bluefin-21
Officials from Malaysia, China and Australia met in Canberra today to shape the new phase after a 58-day multination hunt by planes, ships and submarines found no debris and couldn’t pinpoint pings consistent with transmissions from flight recorders. The search may go on for as long as 12 months depending on weather conditions, Angus Houston, who headsAustralia’s Joint Agency Coordination Centre, said May 2.
So far, each country has borne its own cost for the search, Malaysia’s Acting Transport Minister Hishammuddin Hussein said today. Costs going forward depends on the assets that are available with governments and those taken from elsewhere.
“We’ll be looking at increased involvement from the manufacturers and their host countries,” Hishammuddin said.
The Bluefin-21 submersible will continue with its missions to dive deep, using sonar in an effort to find debris. An Australian aircraft will also be on standby. The tender will aim to identify a single operator to maintain and lead the private-sector’s efforts in the search, Truss said. A single submarine may not be capable of carrying out all the tasks, and more submersible equipment may be needed, Truss said.
M.K.Pachraiya
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