CCEA approved REIL to delink from IL
and become an independent CPSE
03-FEB-2016
The Cabinet Committee on Economic Affairs (CCEA) under chairmanship of Prime Minister Narendra Modi on 3 February 2016 approved Rajasthan Electronics and Instruments Limited (REIL) of Jaipur to delink from its parent company Instrumentation Limited (IL) and turn into an independent Central Public Sector Enterprise (CPSE) under Department of Heavy Industry.
Union Government will buy 51 percent of the IL shareholding. It will be about 6247500 shares of face value of 10 rupees each at book value of 77.09 rupees per share, as on 31 March 2015, a fair valuation comes to 48.16 crore rupees.
It will help REIL to attain a level of growth commensurate with its potential.
It will result in conversion of REIL in to an independent CPSE with greater autonomy to capitalize on the available business opportunities and freedom to approach capital markets for its expansion.
About Rajasthan Electronics and
Instruments Limited (REIL)
• It was incorporated in 1981 with an initial authorized and paid up capital of 40 lakh rupees.
• It has a prominent place amongst the electronics industry of Rajasthan.
• It is a Joint venture company of IL and Rajasthan State Industrial Development and Investment Corporation, Jaipur (RIICO).
• It was conferred the status of a MINI RATNA by the Department of Public Enterprises under Union Ministry of Industry in 1997.
• The area of business extends to manufacturing and marketing of electronic products and services in the areas of Agro-Dairy Sector, Solar Photovoltaic Sector, Industrial Electronics Sector, Information Technology.
Odisha Government extended Aahar
cheap meal scheme to 29 districts
03-FEB-2016
The Government of Odisha on 2 February 2016 decided to extend the Aahar scheme to 29 districts in the State. A decision in this regard was taken at a review meeting on the programme at the State secretariat in Bhubaneswar.
As per the decision, 58 centres will be established in 29 districts across the State to provide subsidized food to urban poor under the scheme. The centres will be opened from March 2016.
Features of Aahar Scheme
• It was launched by the State Government on 1 April 2015 to mark the State’s Foundation Day, Utkala Diwas.
• As part of the first phase of the scheme, Aahar outlets were opened in five cities, namely, Bhubaneswar, Cuttack, Berhampur, Sambalpur and Rourkela.
• The outlets served meal comprising of Rice, Dalma and Pickle at a subsidised rate of 5 rupees with financial assistance from three State run corporations and Tata Steel.
• Each Aahar outlet will cater to one thousand people daily between 11 am and 3 pm.
Former Lok Sabha Speaker Balram
Jakhar passed away
03-FEB-2016
Former Lok Sabha Speaker Balram Jakhar passed away on 3 February 2016 in New Delhi. He was 92.
Jakhar was elected as the Lok Sabha Speaker for two consecutive terms from 1980 to 1989. He was elected to the Lok Sabha four times and also served as the Union Agriculture Minister in 1991 in P. V. Narasimha Rao Ministry.
He was elected to the Punjab Legislative Assembly in 1972 and was re-elected in 1977. He served as Minister in the state and also the Leader of Opposition.
Jakhar also served as the Governor of Madhya Pradesh from 2004 to 2009.
He was the first Asian to be elected as Chairman of Commonwealth Parliamentarian Executive Forum.
EU Commission, United States agreed
on framework for transatlantic data
flows
03-FEB-2016
The European Commission (EC) and the USA on 2 February 2016 agreed on a new framework for transatlantic data flows.
The framework that will be known as the EU-US Privacy Shield will enable the government agencies to transfer data relied on by Facebook and Google across the Atlantic.
And, the agreement will replace the 16-year old Safe Harbour arrangement that was ruled illegal by the European Court of Justice in October 2015.
The court scrapped the agreement in the wake of the Edward Snowden revelations on US intelligence.
Compared to the Safe Harbour, the Privacy Shield arrangement seeks to provide stronger obligations on companies in the USA to protect the personal data of Europeans and stronger monitoring and enforcement by the US agencies.
Titli became first Indian film to win
Best First Foreign Film award by FSCC
03-FEB-2016
Indian film-maker Kanu Behl directorial Titli on 1 February 2016 bagged the Best First Foreign Film Award conferred by the French Syndicate of Cinema Critics 2016 (FSCC).
Titli has earlier won at various international film festivals at places like Bordeaux, Hawaii, New York, Turkey and Spain.
About Titli
• Titli is a 2015 Bollywood drama film written and directed by Kanu Behl, co-produced by Dibakar Banerjee Productions Pvt. Ltd and Aditya Chopra under the banner of Yash Raj Films.
• It features actors Ranvir Shorey, Amit Sial, Shashank Arora, Lalit Behl and Shivani Raghuvanshi in the lead roles.
• The story of the movie revolves around Titli, the youngest member of a violent car-jacking brotherhood, who plots a desperate bid to escape the family business.
About French Syndicate of Cinema
Critics
• The French Syndicate of Cinema Critics awards four prestigious prizes each year including Best French Film, Best International Film, Best First Foreign Film and Best Short Film.
• It also organizes each year the International Critics' Week, the oldest parallel competitive section of the Cannes Film Festival.
Alphabet Inc. became world’s most
valuable company
03-FEB-2016
Shares of Alphabet Inc. opened nearly 3 percent higher on 2 February 2016 to become the world's most valuable public company, replacing Apple Inc.
The shift occurred in extended trading of 1 February 2016 after Alphabet released a fourth-quarter earnings report that highlighted the robust growth of the digital ad market.
At after-hours levels (which technically reflect an indication, but not the real-world value) of 1 February 2016, Alphabet's market cap hit about 570 billion US dollars, eclipsing Apple's market cap of roughly 535 billion US dollars. Shares of Apple opened down nearly 1 percent on 2 February 2016.
Alphabet Inc. earned 4.9 billion US dollars on revenue of 21.3 billion US dollars in the fourth quarter.
About Alphabet Inc.
• Alphabet Inc. is an American multinational conglomerate created in 2015 as the parent company of Google and several other companies previously owned by or tied to Google.
• The company is based in California and headed by Google's co-founders, Larry Page and Sergey Brin.
• The reorganization of Google into Alphabet was completed on 2 October 2015.
• Following the restructuring, Page became CEO of Alphabet while Sundar Pichai took his position as CEO of Google.
• Shares of Google's stock have been converted into Alphabet stock, which trade under Google's former ticker symbols of GOOG andGOOGL.
Former RBI Deputy Governor S S
Tarapore passed away
03-FEB-2016
S.S. Tarapore, former Deputy Governor of the Reserve Bank of India (RBI), passed away on 2 February 2016 in Mumbai. He was 80.
Tarapore was mostly known for his strong views on issues, ranging from inflation to capital account convertibility.
About S.S. Tarapore
• S.S. Tarapore joined the Reserve Bank of India in 1961 as Research Officer.
• He retired from RBI in 1996 as Deputy Governor.
• After retiring, he chaired two committees on full capital account convertibility and one on how to streamline the RBI.
• He completed his BA in economics from Sheffield University in 1958. He obtained his masters degree in economics from London University.
Justice Ramayyagari Subhash Reddy
appointed as Chief Justice of the Gujarat
high Court
03-FEB-2016
Justice Ramayyagari Subhash Reddy was on 3 February 2016 appointed as Chief Justice of the Gujarat high Court with effect from the date he assumes charge of his office.
He would replace Justice Jayant M Patel, who has been acting Chief Justice of Gujarat High Court since 13 August 2015.
Prior to the appointment, he was Judge of the High Court of Judicature at Hyderabad for the States of Telangana and Andhra Pradesh.
About Justice Ramayyagari Subhash
Reddy
• He was born in Kamaram village of Chinna Shankarampet Mandal of Medak District of then Andhra Pradesh and present Telangana state in 1957.
• He received his Law Degree from the University College of Law in Osmania University, Hyderabad.
• He started working as an Advocate of the Bar Council of Andhra Pradesh in October 1980.
• In his career, he practised in Civil, Criminal, Constitutional and almost all other branches of Law.
• He was elected as the President of the Andhra Pradesh High Court Advocates Association for 2001-2002.
• He was sworn in as Judge of High Court of Andhra Pradesh on 24 June 2004.
• He became the Additional Judge of High Court of Andhra Pradesh on 2 December 2012.
About High Court of Gujarat
• It was established on 1 May, 1960 as a result of bifurcation of the former State of Bombay into two States of Maharashtra and Gujarat.
• Justice Sunderlal Trikamlal Desai was the first Chief Justice of the High Court.
• It started functioning near Akashwani, Navrangpura in Ahmedabad later it was shifted to the new building at Sola in Ahmedabad on 16 January 1999
Amitabh Bachchan conferred with
lifetime achievement award
03-FEB-2016
Amitabh Harivansh Bachchan was on 2 February 2016 presented with the lifetime achievement award in New Delhi.
He received the honour at NDTV Indian of the Year Awards for his contribution to the film industry.
About Amitabh Harivansh Bachchan
• He was born on 11 October 1942.
• He is an Indian film actor. He first gained popularity in the early 1970s as the angry young man of Hindi cinema.
• He started his career in 1969 film Saat Hindustani followed by Anand, Guddi, Zanjeer, Sholay among others.
• He also made his Hollywood debut with Baz Luhrmann's film The Great Gatsby, in which he played a Jewish character.
• He won numerous major awards in his career, including three National Film Awards as Best Actor.
• He shares a record with Kamal Hassan and Mammootty.
• He won a number of awards at international film festivals and award ceremonies and fifteen Filmfare Awards.
• He is the most-nominated performer in any major acting category at Filmfare, with 39 nominations overall.
• Apart from National Film Awards, Filmfare Awards and other competitive awards which he won for his performances throughout the years, he has been awarded several honours for his achievements in the Indian film industry.
• In 1991, he became the first artist to receive the Filmfare Lifetime Achievement Award which was established in the name of Raj Kapoor.
SC appointed Lodha Committee to sell
PACL's assets
03-FEB-2016
Supreme Court on 2 February 2016 appointed a committee under former Chief Justice RM Lodha to sell assets of Pearls Agrotech Corporation Ltd (PACL) and refund 49 thousand crore rupees to the investors.
The investors invested in the firm’s collective investment scheme (CIS) that was deemed illegal by the Securities and Exchange Board of India (SEBI).
A bench headed by Justice Anil Dave said that the title deeds of various lands belonging to PACL should be handed over by the CBI to the SEBI. The court in its direction said that SEBI will take appropriate steps to ensure their sale.
It also directed the panel to decide on the modalities of sale, but hinted it would be via auction.
It also directed the PACL not to accept any deposit from the public and restrained any court from interfering with sale proceedings. The bench posted the matter for further hearing on 2 August 2016.
Earlier, the SEBI passed a refund order against the various group companies of PACL after finding them guilty of illegitimately pooling funds from the public through a collective investment scheme.
The plea was filed by PACL Customers and Employees Association seeking a direction to the SEBI to initiate proceedings against PACL for allegedly swindling around 500 crore rupees from various investors in Kerala.
India, Brunei signed 3 MoUs to deepen
bilateral cooperation
03-FEB-2016
India and Brunei on 2 February 2016 signed 3 Memorandums of Understanding (MoUs) to deepen bilateral cooperation. The MoUs were signed in Brunei capital Bandar Seri Begawan during the Vice President Hamid Ansari’s 3-day visit to the country.
Details related to 3 MoUs
• MoU in health cooperation: The objective of this MOU is to establish cooperation in the field of health by means of pooling technical, scientific, financial and human resources and to upgrade the health care, medical education, research between the two countries.
• MoU on Defence cooperation: The purpose of this MOU is to enhance Defence cooperation between India and Brunei in various fields. Cooperation in defence already exists in the form of naval ship visits, training of senior military officers in Staff colleges and exchange of experience.
• MOU on cooperation in youth and sports affairs: It seeks to provide a framework for exchanges of sports persons and sports teams; to facilitate the exchange of expertise in coaching, sports talent identification, sports management and administration and exchange of information in the field of youth affairs.
Apart from signing of the MoUs, the Vice President’s tour included his meeting with the Sultan of Brunei Haji Hassanal Bolkiah Mu'izzaddin Waddaulah and a visit to the sultan omar ali saifuddin mosque in Bandar Seri Begawan.
Kerala won 61st National School
Athletics championship
03-FEB-2016
Kerala on 2 February 2016 won the 61st National School Athletics championship. The national School Athletics championship was held at Olympian Rahman Stadium in Kozhikode, Kerala from 29 January 2016 to 2 February 2016.
This is for the 19th consecutive time Kerala becomes the champions in the event. Kerala, the host of the championship got 306 points winning 39 gold, 29 silver and 17 bronze medals.
On the other hand, Tamil Nadu stood at second position with 116 points winning 11 gold, 8 silver and 13 bronze medals. Maharashtra with 101 points gained the third position.
Maharashtra announced Babasaheb
Ambedkar Special Collective Incentive
Scheme
03-FEB-2016
Maharashtra Cabinet on 2 February 2016 announced Bharatratna Dr. Babasaheb Ambedkar Special Collective Incentive Scheme for the economically backward Dalit entrepreneurs.
The scheme was launched to celebrate the 125th birth anniversary of Dr BR Ambedkar.
Under this scheme, special facilities would be given to Dalit entrepreneurs besides the present Collective Incentive Scheme 2013. Businessmen in Commodities and Service sector would be able to avail the benefits of this scheme.
Major highlights of the Scheme
• Dalit and tribal communities will be allowed to set up their businesses on lands provided by Maharashtra Industrial Development Corporation (MIDC). These lands will be offered at cheaper rates.
• The government will set aside a portion of land in every integrated town for businessmen belonging to lower class.
• Tribal entrepreneurs will be also included under this new scheme.
• Only one member of the family will be eligible for loan under this scheme and start up Unit till get an additional 10 pc incentive
• A single window (Maitri Kaksha) was initiated for giving all permissions required starting business.
• Online Wallet would be made available for those wanting to apply for industrial permissions and all scrutiny and processing fees for would be paid through this and application tracking be available online.
Apart from this, the government has also decided to set up a Venture Capital Fund (VCF) with the Small Industries Development Bank of India (SIDBI) only for Dalit and tribal businessmen.
Besides this, other State Cabinet decisions include effective implementation of rural housing scheme, simplification of agriculture land dealings and green signal for State Innovation Council for boosting Start Up India programme.
Major General Menon to head United
Nations Disengagement Observer
Force
03-FEB-2016
Major General Jai Shanker Menon of India was appointed as the Head of Mission and Force Commander of the United Nations Disengagement Observer Force (UNDOF). His appointment was announced by UN Secretary-General Ban Ki-moon on 2 February 2016.
Menon succeeds Lieutenant General Purna Chandra Thapa of Nepal, who will complete his assignment on 7 February 2016.
Menon brings to his new position extensive command experience and knowledge of peacekeeping affairs at the national and international levels.
Earlier between 2012 and 2013, he was General Officer, Commanding of an Infantry Division. He also held a number of other command positions, including Commandant of the Regimental Training Centre, Brigade Commander and Battalion Commander.
He had served at international level at different positions like in 1993 as Military Observer in the United Nations Operation in Mozambique (ONUMOZ) and from 2007 to 2009 at United Nations Interim Force in Lebanon (UNIFIL).
About United Nations Disengagement
Observer Force (UNDOF)
The United Nations Disengagement Observer Force (UNDOF) was established on 31 May 1974 by Security Council resolution 350 (1974), following the agreed disengagement of the Israeli and Syrian forces in the Golan.
Since then, UNDOF has remained in the area to maintain the ceasefire between the Israeli and Syrian forces and to supervise the implementation of the disengagement agreement.
Union Government set up two panels
to reform tax policies
03-FEB-2016
The Union Government on 2 February 2016 set up two new committees in order to bring coherence and streamline the direct and indirect tax policy and administration.
The two new panels are:
• Tax Policy Research Unit (TPRU)
• Tax Policy Council (TPC)
Key highlights of Tax Policy Council
• The TPC will be headed by the Finance Minister Arun Jaitley.
• It will suggest broad policy measures for taxation based on inputs from the TPRU.
• The Council will be advisory in nature, which will help the Government in identifying key policy decisions for taxation.
• The TPC will have nine members: Minister of State for Finance, NITI Aayog Vice-Chairman, Commerce Minister, Chief Economic Advisor and Finance Secretary. It will also have secretaries from the department of Revenue, Department of Economic Affairs (DEA), Department of Industrial Policy and Promotion (DIPP) and Ministry of Commerce.
Key highlights of Tax Policy Research
Unit
• The TPRU will be a multi-disciplinary body to examine and analyse any fiscal or tax policy referred by the Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC).
• It will prepare and disseminate policy papers and background papers on various taxation issues.
• TPRU will comprise of officers from CBDT, CBEC as well as economists, statisticians, researchers and legal experts. The new committees are a follow up of Parthasarthy Shome panel recommendations on tax reforms.
Veteran Urdu writer Intizar Hussain died
03-FEB-2016
Veteran Urdu fiction writer and poet Intizar Hussain died on 2 February 2016 in Lahore. He was 92.
About Intizar Hussain
• He was born on 7 December 1923 in India; he migrated to the newly formed Pakistan in 1947.
• He was among the 10 finalists for the Man Booker International Prize for fiction in 2013.
• He was the first Pakistan national and the first Urdu writer ever to be nominated for the international award.
• He was conferred upon the Officer of the Order of Arts and Lettersby the French Ambassador to Pakistan Philppe Thiebaud in September 2014.
• His acclaimed novel Basti was published in 1979 and later translated into English.
• He also addressed the history of Pakistan and the subcontinent.
• He was a regular literary columnist for Pakistan’s leading English-language daily Dawn.
NIIF signed MoU with Rusnano OJSC to
set-up Russia-India High Technology
Private Equity Fund
03-FEB-2016
National Investment and Infrastructure Fund (NIIF) Ltd. on 2 February 2016 signed a Memorandum of Understanding (MoU) with RUSNANO OJSC of Russia. The MoU was to set-up Russia-India High Technology Private Equity Fund for joint implementation of investments into projects in India
The two parties agreed to cooperate in diverse sectors and facilitate high-technology investments in India.
They will establish a joint working group with a view to further develop cooperation between them and work on the development of the definitive agreements based on the principles outlined in the Memorandum.
About National Investment and
Infrastructure Fund (NIIF) Ltd
The Union Government established NIIF as a Category II Alternate Investment Fund (AIF) under the Securities and Exchange Board of India (SEBI) Regulations.
It is financed from Government’s own contribution and is expected to have equity participation from both foreign and domestic strategic anchor partners with Government’s share being 49 percent.
The initial authorized corpus of NIIF is 40000 crore rupees, which may be raised from time to time.
The objective of NIIF is to maximise economic impact mainly through infrastructure development in commercially viable projects bothGreenfield and Brownfield, including stalled projects and other nationally important projects in India.
About RUSNANO
It is a Russian development institute with interest to invest in projects in the field of high technologies and defense including the projects aimed at establishment of manufacturing industrial enterprises in India.
Union Government to set up a BGRL to
understand earthquake mechanism in
Koyna region
03-FEB-2016
Dr Harsh Vardhan, the Union Minister for Science, Technology and Earth Sciences on 2 February 2016 inaugurated the construction work of Borehole Geophysics Research Laboratory (BGRL) at Hazarmachi, Karad of Maharashtra.
BGRL is being developed at Karad to understand and address the challenges of the seismological problems (natural calamities) of societal relevance in the Koyna Region through drilling investigation.
BGRL was conceptualised as part of the Ministry’s programme of Scientific Deep Drilling in Koyna Intra-plate Seismic Zone for geographical investigations and modeling dedicated to earthquake research in the area.
About the BGRL Programme
The programme is a unique approach to understand the mechanism of earthquakes in the Koyna region and it proposes
• It is proposed to drill deep boreholes to reach the depths of earthquakes in this region and set-up a deep borehole observatory.
• Direct observations in the source zone of the earthquakes will provide new and critical information to model these earthquake mechanisms.
The goal of BGRL is to emerge as an Institution of international repute housing highly specialized geophysical, geological and geotechnical facilities related to earthquake research.
About Koyna region
Koynanagar is a town near the Koyna Hydroelectric Project in Maharashtra. The area is one of the most seismically active in Maharashtra as well as the country. Koyna region lies in Zone IV of earthquake hazard zoning.
Reservoir triggered earthquakes have been occurring persistently in the Koyna region since the impoundment of the Shivaji Sagar Lake in 1962. In 1967, the region faced a quake of magnitude 6.3, which was the largest triggered earthquake of the area.
List of earthquake faced by the region
(all earthquakes were restricted to an
area of 30 km x 20 km only)
• 22 earthquakes with magnitude 5 and above
• 200 earthquakes of magnitude 4 and above
• Several thousand smaller earthquakes have occurred in the region
10-years of MGNREGA: The way
forward
04-FEB-2016
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005 completed ten years of implementation on 2nd February 2016.
Under the Act, Mahatma Gandhi National Rural Employment Guarantee Scheme was launched with the objective of providing at least 100 days of employment in rural areas across the country.
Touted as one of the largest employment generation programmesin the modern world history, it made the right to employment as a legal right in independent India.
Achievements of MNREGA
• In 10-years of its implementation, the expenditure on the programme has amounted to 3.13 lakh crore rupees and out of this 71 percent was spent on wage payments to workers.
• Of the workers, the percentage of Scheduled Caste (SC) workers has consistently been about 20 percent and Scheduled Tribe (ST) workers has been about 17 percent.
• A total of 1980.01 crore person days were generated, out of which the percentage worked by women has steadily increased much above the statutory minimum of 33 percent.
• Under the programme, sustainable assets have been created linked to conservation of natural resources and overall development of gram panchayats.
• More than 65 percent of the works taken up under the programme are linked to agriculture and allied activities.
• It institutionalized progressive administrative practices like electronic fund management system, social audit, participation of people in the entire programme cycle, redressal of grievances through ombudsman, etc.
• To a great extent, it helped to address the problem of employment in rural areas especially in times of distress. Consequently, it helped in reducing rural to urban migration to a great extent.
• World Bank in its State of Safety Nets 2015 report declared the scheme as the largest in the Public Works Programme (PWP) category in the world with 182 million beneficiaries.
In order to strengthen its implementation, the government unveiled following measures.
• The convergent planning exercise currently underway in 2569 backward blocks in the country will be consolidated in the State Rural Development Plan (SRDP) which will be the basis of implementation and monitoring for 2016-17.
• In order to enhance people’s participation in the programme, steps will be taken to undertake concurrent social audits and community monitoring.
• There will be a renewed focus on sustainable individual assets to benefit the poor and vulnerable households. Accordingly, 5 Lakh farm ponds and 10 Lakh Vermi and NADEP compost pits will be built in the FY 2016-17.
• There will be a continued focus on construction of Anganwadi Buildings and individual household latrines.
• Focus will be on imparting skills to workers. It will aim to train and place 10000 Barefoot Technicians from worker households and through Project LIFE, skill and train workers for wages, for self-employment and livelihood up gradation.
EU approved 3.3 billion euros funding
to Turkey to cope with Syrian refugee
crisis
04-FEB-2016
The European Union (EU) on 3 February 2016 approved 3.3 billion Euros in funding to help Turkey cope with the issue of Syrian migrants. At present, Turkey is home to around 3 million Syrians who fled the country since the beginning of the civil war in 2011.
The funding is aimed at curbing flow of asylum seekers into the Europe by tightening its borders with Turkey.
Under the deal, the EU's executive is contributing one billion euros to the fund, while the 28 member states will contribute the rest.
The funding is part of a deal reached in October 2015 between the EU and Turkey to stem the flow of refugees crossing into Greece on their way to northern Europe.
As per an estimate, more than a million migrants reached the EU in 2015 by sea and many of them travelled through Turkey.
Canadian province of Prince Edward
Island & Ontario signed MoUs in
Chandigarh
04-FEB-2016
Canadian Provinces of Prince Edward Island (PEI) and Ontario in first week of February 2016 inked Memorandum of Understandings (MoUs) in Chandigarh. The MoUs were inked during the India visit of the premiers of PEI and Ontario Wade MacLauchlan and Kathleen Wynne respectively.
MacLauchlan and Wynne were leading a week-long trade mission to India with a focus on building economic and education relationships between the two nations. During the visit the duo premiers met with several leaders of India like Prime Minister Narendra Modi and other senior Ministers.
The meetings were focused on cultivating relationships with India in renewable energy, sustainable development, food products, and post-secondary education.
The MoUs which were signed during
the visit includes
MoU to facilitate exchanges of faculty and students and collaboration on research and programming was signed by University of Prince Edward Island (UPEI) with Chitkara University and the Punjab Agricultural University.
MoU to send apples grown in eastern Prince Edward Island to markets in India and Asia was signed between the province and Canadian Nectar products.
The Premier and Economic Development and Tourism Minister, Heath MacDonald, who announced that they intend to open their first North American office in Prince Edward Island beginning this spring, and creating new skilled jobs. It was announced when MacDonald met with leaders from software company Aark Infosoft - based in Ahmedabad.
She-Taxi initiative of Kerala bagged
Chief Minister's Award for Innovation
04-FEB-2016
Kerala’s all-women taxicab service She-Taxi on 3 February 2016 received the prestigious Chief Minister's Award for Innovation in Public Policy 2014 in Thiruvananthapuram, Kerala. It was selected for the recognition in the developmental interventionscategory.
This initiative was selected for the award considering it as a unique model and its possibility to replicate in other places.
In short span of time, it addressed the safety and security concerns of women travellers along with the contribution to socio-economic empowerment aspect of women in the state.
About She Taxi
• It was launched by the Gender Park which was an autonomous institution under the state Social Justice Department in 2014.
• It is considered as the India's first 24x7 taxi network by women for women.
• It was to promote entrepreneurship, self-employment and security among women.
Bharat Biotech unveiled first vaccine
candidate Zikavac for Zika Virus
04-FEB-2016
Indian biotechnology company Bharat Biotech on 3 February 2016 claimed that it has achieved a breakthrough in developing a vaccine to fight the mosquito-borne Zika virus.
Bharat Biotech developed world’s first, two promising candidatesZikaVac vaccines for Zika infection.
The company is probably the first in the world to file for global patent for the two vaccines.
One of the possible vaccines is recombinant, which means it is created by genetic engineering, while the other was inactivated, and will enter pre-clinical trials in animals in two weeks.
The company announced that it could make available the inactivated vaccine in two years if the Indian Government fast-tracked the regulatory approvals once the pre-clinical trials proved to be successful.
While the recombinant vaccine might take time, the pre-clinical testing of the inactivated vaccine in animals will be completed in five months.
Key facts related to the breakthrough
• Bharat Biotech developed the vaccine and pro vaccine candidates.
• It filed a patent in July 2015. The company is probably the first in the world to file for global patent for Zika Vaccine candidates.
• The company has been working on Zika vaccine for more than 15 months.
• The company was able to develop the ZikaVac vaccines because it had earlier successfully developed vaccine on vector borne Chikungunya disease which is also transmitted by Aedes mosquito similar to Zika virus.
About Bharat Bitotech
• Bharat Biotech is an Indian Biotechnology company, headquartered at Genome Valley, Hyderabad.
• The company was founded by Indian scientist, Krishna Ella.
• Bharat Biotech has one of the largest pharmaceutical manufacturing plants of its kind in Asia-Pacific.
• It is the first bio-pharma facility in the country to be audited and approved by Korean Food & Drugs Administration (KFDA).
About Zika virus
• Zika virus is transmitted by daytime-active Aedes mosquitoes.
• Its name is derived from the Zika Forest of Uganda, where the virus was first isolated in 1947.
• In humans, the virus causes most often no symptoms or a mild illness known as Zika fever, which since the 1950s has been known to occur within a narrow equatorial belt from Africa to Asia.
• In 2014, the virus spread eastward across the Pacific Ocean to French Polynesia, then to Easter Island and in 2015 to Mexico, Central America, the Caribbean, and South America, where the Zika outbreak has reached pandemic levels.
• There is a possible link between Zika fever and microcephaly in newborn babies by mother-to-child transmission, as well as a stronger one with neurologic conditions in infected adults, including cases of the Guillain–Barré syndrome.
• In January 2016, the U.S. Centers for Disease Control and Prevention (CDC) issued travel guidance on affected countries.
• On 2 February 2016, Dallas County Health and Human Services confirmed the first case of transmission in the United States.
• On 1 February 2016, World Health Organisation (WHO) declared Public Health Emergency of International Concern over the explosive spread of the mosquito-borne Zika virus.
De-radicalisation programme for the
minority community rolled out in
Maharashtra
04-FEB-2016
Maharashtra Government in January 2016 rolled out a de-radicalisation programme for the minority community. The programme was launched to face the challenges of both home-grown extremism and global Islamic State (IS) threat.
A government resolution on de-radicalisation of youth and preserving communal amity was approved and passed by the Chief Minister Devendra Fadnavis.
Some highlights of the Programme
• Vyayam shalas will be opened in minority areas
• National Cadet Corps (NCC), Bharat Scouts and Guides (BS&G) will be made compulsory in the minority schools
• Mainstream thoughts and values will be delivered to minority youth in the state by establishing independent media outlets
• Plans to teach religious texts from all sects in minority schools
• Teaching merits of democratic States and demerits of dictatorships as a separate chapter in the Urdu textbooks
• The State Education Department will launch a mid-day meal scheme in Urdu schools
• Provide textbooks at subsidised rates, and teach Urdu as optional subject in 300 Marathi shalas (schools)
Apart from this, the state police have been directed to deal with religious extremism in the stricter possible manner. It has been asked to strongly deal with those (individuals or organisation) disturbing communal harmony and spreading propaganda on social websites and services.
Police has been asked to reduce any feeling of communalism with the force by identifying the same and reach out the minority community and win their hearts at all costs.
Background
The programme was rolled out against the backdrop of Union Home Ministry’s direction to three states including Maharashtra on drawing up a comprehensive counter-strategy in wake of attempts by international terrorist outfits like ISIS to promote Jihadi ideologies.
However, in December 2015, certain Muslim scholars and social activists had criticised the programme.
They termed the programme of de-radicalisation of youth from the community amounts to labeling of a particular community as radicalised.
India to participate in Cobra Gold 2016
military exercise in Thailand
04-FEB-2016
Cobra Gold: A multilateral amphibious military exercise in Thailand.
The term Cobra Gold was in news on 3 February 2016 as India confirmed its participation in the annual amphibious military exercise in 2016.
The decision in this regard was conveyed to Thailand, the host country, during Vice President Hamid Ansari’s visit to the country.
About Cobra Gold
• It is the largest Asia-Pacific military exercise and held in Thailand every year.
• It is among the largest multinational military exercise in which the United States participates.
• As of 2014, Cobra Gold has three distinct activities, namely, the Combined Arms Live Fire Exercise (CALFEX), Command Post Exercise (CPX) and activity related to assisting the local Thai population.
• It was first held in 1982 to improve coordination between the armed forces of the USA and Thailand in both hostile military and humanitarian efforts.
• As of 2015, the exercise expanded to include 26 nations - Indonesia, Japan, Malaysia, Singapore, South Korea, and other South Asian and Pacific Ocean countries among others.
• China was admitted to the exercise for the first time in 2015.
• The exercise was proven effective in improving coordinated military response to natural disasters, including the 2004 Indian Ocean tsunami, the 2011 Tōhoku tsunami, and disaster relief provided to the Philippines after Typhoon Haiyan struck in November 2013.
Reliance Defence to set up Dhirubhai
Ambani Centre for Innovation &
Research in Aerospace in Bengaluru
04-FEB-2016
Reliance Defence Ltd, a subsidiary of Reliance Infrastructure Ltd, will set up the Dhirubhai Ambani Centre for Innovation and Research in Aerospace in Bengaluru.
An announcement in this regard was made by the Reliance Anil Dhirubhai Ambani Group (Reliance ADAG) chairman Anil Ambani on 3 February 2016 at the Invest Karnataka 2016 summit in Bengaluru.
The centre, the first-ever of its kind in the private sector in India, will be a world class facility for research, development and innovation in aerospace technology. It will generate more than 1500 highly skilled jobs.
The centre will be a knowledge-driven technology venture and will function as a global centre of aerospace excellence.
The setting up of the centre is also in tune with the government’s Indigenous Design, Development and Manufacturing (IDDM) for Defence equipment and Make in India and Skill India initiatives.
Manipuri documentary Phum-Shang
won Golden Conch Award at MIFF 2016
04-FEB-2016
Manipuri documentary film Phum-Shang on 3 February 2016 bagged the prestigious Golden Conch Award for the best documentary film at the 14th Mumbai International Film Festival for Documentary, Animation and Short Films (MIFF 2016).
The film is directed by Haobam Paban Kumar, an alumnus of the Satyajit Ray Film & Television Institute, Kolkata.
The 52-minute film critically examines the serious environmental problems faced by the Loktak lake, the largest freshwater lake in northeast India. The lake is characterised by its unique floating biomass, known as Phumdi, which is the primary source of livelihood for fishermen who live on huts built on the Phumdis.
Paban Kumar was presented with the Golden Conch Award and a cash prize of 3 lakh rupees by the Governor of Maharashtra Chennamaneni Vidyasagar Rao and State Cultural Minister Vinod Tawde at a ceremony in Mumbai.
Swiss film My Name Is Salt and an Indian film Placebo shared the Golden Conch Award for the best feature length documentary film.
My Name Is Salt is directed by Farida Pacha, It is a film about the journey of thousands of families to the Rann of Kutch to extract the whitest salt in the world. The film also won the award for best cinematography.
The story of Placebo revolves around the stress and pressure faced by medical students due to intense competition.
Other awards given at MIFF 2016
• Debanjan Nandy’s animation film Chhaya bagged the first prize in the animation category of the international competition.
• Mumbai filmmaker Devashish Makhija’s Agli Baar shared the Best Short Fiction Film honours with UK entry Solo Finale by Ingo Putze.
• The Dadasaheb Phalke Award for the best debut film by a director went to Far From Home by Copenhagen-based filmmaker Nitesh Anjan.
About MIFF
• The first ever Mumbai International Film Festival for Documentary, Animation and Short Films was held in 1990.
• The biennial festival is conducted with the active collaboration of Government of Maharashtra and the Indian Documentary Producers’ Association. Mumbai is the permanent venue of the festival.
• MIFF is one of the most prestigious festival in the documentary, short and animation genre at par with International Film Festivals like Leipzig, Berlin, Oberhausen, Cracow and Tampere etc.
WHO recommended to rate movies
with smoking scenes to protect
children from tobacco addiction
04-FEB-2016
World Health Organisation (WHO) on 1 February 2016 recommended all governments to rate movies with smoking scenes to protect children and adolescents from tobacco addiction in Geneva.
According to the WHO’s third edition of Smoke-free movies: from evidence to action report, movies showing the use of tobacco products have enticed millions of young people worldwide to start smoking.
The report also stated that many films produced outside of the United States also contain smoking scenes. Surveys had shown that tobacco imagery was found in top-grossing films produced in six European countries which are Germany, Iceland, Italy, Poland, the Netherlands and the United Kingdom and two Latin American countries, Argentina and Mexico.
Nine in 10 movies from Iceland and Argentina contained smoking including films rated for young people.
The WHO Smoke-Free Movie report recommended the following policy measures in line with the guidelines of article 13 of the WHO FCTC.These are:
• Requiring age classification ratings for films with tobacco imagery to reduce overall exposure of youth to tobacco imagery in films.
• Certifying in movie credits that film producers receive nothing of value from anyone in exchange for using or displaying tobacco products in a film.
• Ending display of tobacco brands in films.
• Requiring strong anti-smoking advertisements to be shown before films containing tobacco imagery in all distribution channels (cinemas, televisions, online, etc).
• In addition, the report also recommended making media productions that promote smoking ineligible for public subsidies.
WHO Framework Convention on
Tobacco Control (WHO FCTC)
The FCTC which came into force in 2005 was the first international treaty to be agreed under WHO’s auspices. It has successfully helped to co-ordinate and energise the global struggle against tobacco.
The Conference of the Parties (COP) is the Convention’s governing body and is comprised of all 180 Parties, which are obliged by international law to ban tobacco advertising, promotion and sponsorship.
COP regularly reviews the implementation of the Convention and takes action to promote its effectiveness. The regular sessions of COP are held at two yearly intervals.
India will host the seventh session of the Conference of the Parties (COP7) and the first session of the Meeting of the Parties (MOP1) inNovember 2016 at Noida.
World Cancer Day 2016 observed with
theme We can. I can.
04-FEB-2016
4 February: World Cancer Day
World Cancer Day (WCD) 2016 was observed across the world on 4 February 2016. The day was observed with year’s theme – We can. I can.
World Cancer Day unites the world’s population in the fight against cancer. The tagline of the theme reflects on what you can do and asks to make a pledge and take action and make a difference in fight against cancer.
The World Cancer Day 2016-2018 will explore how everyone – as a collective or as individuals – can do their part to reduce the global burden of cancer.
It also aims at saving millions of preventable deaths each year. Currently, 8.2 million people die from cancer worldwide every year, out of which, 4 million people die prematurely (aged 30 to 69 years).
About World Cancer Day
World Cancer Day was founded by the Union for International Cancer Control (UICC) to support the goals of the World Cancer Declaration,written in 2008. The primary goal of the day is to significantly reduce illness and death caused by cancer by 2020.
Union for International Cancer Control (UICC) founded in 1933 and based in Geneva is a leading international non-governmental organisation. It has a membership of over 800 organisations across 155 countries.
Moreover, it is a founding member of the NCD Alliance, a global civil society network that now represents almost 2000 organisations in 170 countries.
DJ Pandian appointed Vice President of
Asian Infrastructure Investment Bank
04-FEB-2016
Former chief secretary of Gujarat DJ Pandian was appointed vice-president and chief investment officer of the newly-created Asian Infrastructure Investment Bank (AIIB) on 3 February 2016.
His appointment as vice-president and chief investment officer was approved by AIIB. The retired 1981-batch IAS officer of Gujarat cadre had worked on deputation with the World Bank in Washington. He was also the MD of Gujarat State Petroleum Corporation (GSPC).
The Beijing-based 100 billion dollar multi-lateral lender, AIIB was set up in Beijing on 25 December 2015. It was established to boost lending for infrastructure projects such as energy, transportation, urban construction and logistics as well as education and healthcare.
China had nominated its former finance minister Jin Liqun as the first president of AIIB.
The three largest shareholders of the bank are China (30.34 percent), India (8.52 percent) and Russia (6.66 percent). Their voting shares are calculated at 26.06 percent, 7.5 percent and 5.92 percent, respectively.
TCS became world's most powerful IT
Services brand
04-FEB-2016
Tata Consultancy Services (TCS) on 3 February 2016 announced that it has been rated as the World’s Most Powerful Brand in IT Services by Brand Finance, the world’s leading brand valuation firm.
Scoring highly on a wide variety of measures such as familiarity, loyalty, staff satisfaction and corporate reputation, TCS emerged as the IT services industry's most powerful brand with a score of 78.3 points earning it an AA+ rating.
TCS is also the fastest growing brand within its industry over the last six years. The company’s overall brand value has increased from $2.34 billion US dollars in 2010 (when the first evaluation of the TCS brand was conducted) to 9.04 billion US dollars in 2016, which shows a growth rate of 286 per cent.
Key highlights of Brand Finance Global
500 2016 Report
• Disney is the world’s most powerful brand
• Despite slowing sales, Apple is the world’s most valuable brand
• Volkswagen brand value falls by $12 billion US dollars following emissions scandal
• 4 of the 10 fastest growing brands are Chinese
• Strongest brands’ shares outperform the S&P 500 average
The World’s Most Powerful Brands
(Top 10)
|
Rank (brand strength) 2016 |
Rank (brand value) 2016 |
Brand |
Sector |
Domicile |
Brand Value 2016 (USDm) |
|
1 |
24 |
Walt Disney |
Media |
US |
31,674 |
|
2 |
324 |
Lego |
Toys |
Denmark |
4,520 |
|
3 |
80 |
L'Oréal |
Conglomerate |
France |
14,990 |
|
4 |
58 |
PWC |
Commercial Services |
US |
18,569 |
|
5 |
288 |
McKinsey |
Commercial Services |
US |
4,881 |
|
6 |
29 |
Nike |
Apparel |
US |
28,041 |
|
7 |
79 |
Johnson's |
Consumer Products |
US |
15,115 |
|
8 |
17 |
Coca-Cola |
Soft Drinks |
US |
34,180 |
|
9 |
72 |
NBC |
Media |
US |
S 16,103 |
|
10 |
2 |
|
Technology |
US |
94,184 |
About Brand Finance
• Brand Finance is the world’s leading brand valuation and strategy consultancy.
• The company provides clarity to marketers, brand owners and investors by quantifying the financial value of brands.
• It was founded in 1996 by David Haigh.
India's first Ayurvedic anti-diabetic
drug, BGR-34, launched by CSIR
04-FEB-2016
Council for Scientific and Industrial Research (CSIR) on 3 February 2016 launched the BGR-34, the country's first anti-diabetic ayurvedic drug for Diabetes. BGR is acronym for blood glucose regulator.
The ayurvedic drug BGR-34 was launched at Kozhikode, Kerala by CSIR's Senior Principal Scientist Dr AKS Rawat as part of the Global Ayurveda Festival in the city.
BGR-34 is designed for type 2 Diabetes mellitus, has been scientifically validated for its efficacy and safety. Priced at 5 rupees per tablet, the medicine is now available at all major chemist counters of Kerala.
The drug works by controlling blood sugar level (anti-hyperglycaemic property) and limiting the harmful effects of other drugs and is not toxic in nature nor carries any side-effects.
The drug was developed by CSIR in collaboration with National Botanical Research Institute and Central Institute for Medicinal and Aromatic Plant. It was developed as diabetes has become a major threat in the health sector and about 6 crore of adult Indian population has been found to be diabetic and there is no effective solution for the disease yet.
Union Government granted Miniratna
Category-I Status to HSCC
04-FEB-2016
Union Health and Family Welfare Minister JP Nadda on 1 February 2016 awarded the certificate of Miniratna Category-I status to Hospital Services Consultancy Corporation (I) Ltd (HSCC). The honour was awarded to its CMD Gyanesh Pandey at Nirman Bhawan in New Delhi.
It got the status for its consistency in excellent performance in top and bottom-line growth along with its turnover, particularly for the last five years. These status are granted by the Department of Public Enterprises under Union Ministry of Heavy Industries and Public Enterprises.
HSSC is a Public Sector Enterprise under the Union Ministry of Health and Family Welfare since its inception it has been a profit making organisation. As a result, it attained the Miniratna-II status in 2002.
Criteria to award Miniratna Status
Those CPSEs that have shown profits in the last continuous three years and have positive net worth can be considered eligible for grant of Miniratna status.
These are divided in two catergories – I and II.
Miniratna Category-I
CPSEs should have made profits continuously for the last three years otherwise, it should have earned a net profit of 30 crore rupees or more in one of the three years.
The company boards are entitled to invest up to 500 crore rupees or equal to their net worth, whichever is lower without seeking government permission.
Miniratna Category-II
CPSEs should have made profits for the last three years continuously and should have a positive net worth.
The company boards are entitled to invest up to 300 crore rupees or up to 50 percent of their net worth, whichever is lower without seeking government permission.
Aruna Sethi appointed as first women
head of Indian Cost Accounting Service
04-FEB-2016
Aruna Sethi, the Principal Adviser (Cost), on 1 February 2016 took over charge as the head of Indian Cost Accounts Service (ICoAS). With this appointment, she became the first woman to occupy the post.
Prior to the present elevation, Aruna, a 1985 batch ICoAS officer, held important portfolios in Government of India including Ministry of Consumer Affairs, Ministry of Corporate Affairs, Ministry of Finance, Department of Expenditure, Ministry of Commerce and Industry, Ministry of Defence etc.
About Indian Cost Accounts Service
• It is one of the six organized accounting services of the Government of India.
• It is comparatively young accounting service constituted in 1978.
• The ICoAS Officers have the requisite skill by virtue of their professional background and experience gained in managing the multifarious and complex issues relating to financial and cost management matters.
• Office of Chief Adviser Cost is one of the divisions functioning in the Department of Expenditure.
• It is a professional body staffed by qualified Cost/ Chartered Accountants.
• This Office is responsible for advising the Ministries and Government Undertakings on cost accounts matters and to undertake cost investigation work on their behalf.
Sarangi maestro Pandit Ram Narayan
selected for Bhimsen Joshi Award
04-FEB-2016
Sarangi maestro Pandit Ram Narayan on 3 February 2016 was selected for the prestigious Bharat Ratna Pandit Bhimsen Joshi Classical Music Award for 2015-2016.
Narayan’s selection for the award was announced by Maharashtra's Cultural Affairs Minister Vinod Tawde in Mumbai.
About Pandit Ram Narayan
• Pandit Ram Narayan popularised the bowed instrument sarangi as a solo concert instrument in Hindustani classical music and became the first internationally successful sarangi player.
• In 1944, All India Radio, Lahore, hired him as an accompanist for vocalists.
• He moved to Delhi following the partition of India in 1947. However, he moved to Mumbai in 1949 to work in Indian cinema.
• He became a concert solo artist in 1956.
• He recorded solo albums and began to tour America and Europe in the 1960s.
• He was awarded India's second highest civilian honour, the Padma Vibhushan, in 2005.
About Bhimsen Joshi Award
• The Bharat Ratna Pandit Bhimsen Joshi Classical Music Award is an annual award, which was instituted by the Maharashtra Government.
• It is given to individuals who have excelled in classical vocal or instrumental music.
• The award comprises 5 lakh rupees in cash, a trophy and a citation.
Pacific Rim nations signed Trans-
Pacific Partnership agreement
04-FEB-2016
All twelve Pacific Rim countries on 4 February 2016 signed the US-ledTrans-Pacific Partnership (TPP) agreement in New Zealand. This is one of the biggest trade deals in history.
The ceremonial signing event on the pact was led by New Zealand Prime Minister John Key and US Trade Representative Mike Froman at Auckland's Sky City Convention Centre.
The trade deal looks to facilitate investment between 12 countries across the Pacific Rim, which together account for about 40 percent of the global economy. The agreement was signed by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States of America and Vietnam.
The TPP was agreed in October 2015 after five years of negotiations and multiple missed deadlines. The signing of the pact ends the process of negotiation but the member countries have two years to get approval on the deal at home.
The deal was signed even after the US is struggling to get the pact ratified in Congress.
The US-led initiative is a key part of President Barack Obama's so-called pivot to Asia but has proved to be a controversial issue ahead of the US elections in November 2016. Obama has barely a year left on his term and his administration warns that the US economy will suffer if politicians don't ratify the TPP agreement.
CIPET signed MoU with Karnataka
Government to set up Advanced
Polymer Laboratory in Bengaluru
04-FEB-2016
Central Institute of Plastic Engineering and Technology (CIPET), under the Union Ministry of Chemicals and Fertilizers on 3 February 2016 signed a Memorandum of Understanding (MoU) with Karnataka Government to set up Advanced Polymer Design and Development Research Laboratory cum High Learning Centre at Bengaluru.
The State Government share 50 percent of project cost apart from allotting the required land for the centre.
Union Government will bear the remaining 50 Percent and act as a multi-functional one-step facility with specialization in product development in Polymer sector.
Features of the Advanced Polymer
Design and Development Research
Laboratory
• The Laboratory would be set with all modern equipment and machinery with an estimated investment of 87 crore rupees.
• It will also conduct Research and development, product tests and evaluations and commercialization of technology.
• It will play an important role in developing new Plastics Technologies, Processes and Products to enhance the use of plastics for promotion of industries and betterment of the people.
• It will establish a strong relationship with industries, especially for design and development of advanced polymers, micro fluidic device development and manufacturing techniques for medical and electronics etc.
• It will also compliment a number of projects of ISRO, DRDO, Department of Science and Technology, CSIR and other public and private sector organizations.
• It would also help India to address various global issues such as requirement of light weight components, nano-composites, high performance coatings, flame retardant polymers, increased use of plastic in agriculture and construction, and tailor-made polymer solution for various industries.
About Central Institute of Plastic
Engineering and Technology (CIPET)
• It is a premier national Institution devoted to Academic, Technology Support and Research (ATR) activities for the growth of Polymer & allied industries in the country.
• It operates on hub and spokes model with 28 locations across the country out of which 5 centers have been added during the year 2015-16.
• It conduct diploma and UG/PG programmes, undertake research, and provide technology support to industry by way of designing , tooling, moulding, testing quality control etc.
• It has been recognised by Department of Scientific and Industrial Research (DSIR) as a scientific and research organisation in the field of Plastics Engineering and Technology.
• It has signed a Memorandum of Agreement with several leading International Universities for faculty and student exchange Programs, bilateral Research and Development initiatives and collaborative research projects.
• It has established very good interaction with Regional and National Plastics Associations in India.