Highlights of Interim Union Budget 2009-10. Revenue Deficit for 2009-10 estimated at 4% and fiscal deficit at 5.5% of gross domestic product. Rs. 9,53,231 crore expenditure proposed for 2009-10. Plan expenditure amounts to Rs. 2,85,149 crore and non-plan expenditure accounts for 6,68,082 crore. Rs.1,31,317 crore allotted for flagship programmes. Defence gets Rs. 1,41,703 crore in the interim budget. India Gandhi National Widow Pension and Indira Gandhi Gandhi National Disability Pension schemes to be launched. Widows in the age group 18-40 to be given priority in admissions to it is women it is and national/regional it is for women. Government will bear the training cost and provide a stipend of Rs. 500 per month. NPAs of public sector banks decline. 60.12 lakh houses for weaker sections constructed under Indira Awas Yojana. Rs. 100 crore for ‘Unique Identification Authority’. Rs. 65,300 crore debt waiver and relief given to 3.6 crore farmers. Farm credit disbursement up 300% since 2003-04 touching Rs. 2.5 lakh crore in 2007-08. Rural Infrastructure Development Fund corpus increased to Rs. 14,000 crore in 2008-09. GDP records growth of over 9% for three consecutive years. 15 Central universities established, Six new IITs start functioning, two more this year. $ 32.4 billion FDI received in 2007-08. Financial sector reforms strengthen regulatory mechanism of securities market. CPSEs turnover increases from 5,87,000 crore in 2003-04 to Rs. 10,81,000 crore in 2007-08. Panchayat empowerment and accountability scheme to be subsequently expanded.
Israel has emerged as India’s largest defence supplier, overtaking Russia. It has signed defence deals worth $ 9 billion with New Delhi in the last decade. Russia had averaged sale of $875 million annually to India for the past 40 years. In the wake of the Mumbai terror attacks, India purchased from Israel the ‘Aerostat Radar System’ to defend the country’s coastline for $ 600 million. The radars will be deployed at strategic points to provide warming against incoming enemy aircraft and missiles. India and Israel have also agreed upon the joint development of medium range surface-to-air missiles for the Air Force. New Delhi is expected to receive the first of three new Phalcon Airborne Warming And Control Systems (AWACS), part of a $ 1.1 billion deal signed between the two countries by March.
Two nuclear submarines, Britain’s ‘HMS Vanguard’ and Frances Le Triomphant ( a ballistic nuclear submarine ) collided in the Atlantic Ocean earlier this month. Each vessel is 150 metres long and 13 metres in diameter, and can carry up to 48 nuclear warheads on a maximum of 16 missiles.
The United Nations Office for Outer Space Affairs (UNOOSA) has called all member States and International organisations to fully implement measures to curb ‘space debris’. The appeal came after the collision of an inactive Russian satellite with an operational one from the US. The inactive Russian communication satellite ‘Cosmos 2251’ and the operational U.S.A satellite ‘Iridium 33’ collided at an altitude of some 790 kilometers above the earth creating a cloud of nearly 700 pieces of Space debris. UN Space Debris mitigation guidelines call, among other things, for limiting the long-term presence of spacecraft and launch vehicles in low-earth orbits (LEO), upto some 1600 kms above Earth’s surface after the end of their mission. Space debris remains in orbit for a long time and poses a risk to spacecraft orbiting Earth.
National Academy of Statistical Administration ( NASA) was inaugurated in Greater Nodia, Uttar Pradesh.
Noted Assamese Novelist Dr. Lakshmi Nandan Bohra has been selected for Saraswati Samman 2008 in recognition of her Assamese novel, ‘Kavakalpa’. The ‘Samman’ is instituted by K.K. Birla Foundation in 1991, given to outstanding literary work in any Indian language mentioned in the schedule to the Constitution of India by an Indian citizen.
Smt. Sonia Gandhi dedicated HPCL’s Mundra-Delhi Pipeline ( MDPL) to the nation. MDPL is the first product pipeline commissioned under the principle of common carrier as laid down in the Petroleum Product Pipeline policy. MDPL runs from Mundra to Delhi. It pumps Petrol, Diesel and Kerosene. The main pumping station of the pipeline is at Mundra with two intermediate pumping stations in Gujarat at Santhalpur and Palampur and there in Rajasthan (Awa, Ajmer and Jaipur).
Britain’s Royal Mail issued a set of stamps on 12th February 2009 to mark the 200th anniversary of the birth of Charles Darwin, and the 150th anniversary of his seminal work on the ‘Origin of species’ in 1859.
The Securities and Exchange Board of India (SEBI) eased takeover norms for companies whose boards have been superseded by the government under which suitors need not make an open offer. SEBI amended the securities and exchange of Board of India (substantial Acquisition of shares and Takeovers ) Regulations, 1997, allowing companies a special status in the bidding process.
It is estimated that in the future around 90% of computing will be done through “Cloud Computing”. Cloud computing is an emerging computing technology that relies on central servers for the delivery and maintenance of applications. Today, Google applications, maps, and Gmail are all based on cloud computing.
In a surprise reshuffle of cabinet, the judiciary and the military of Saudi Arabia, king Abdullah, who came to power in 2005 appointed the first woman minister in Saudi. Noura al-Fayez was appointed as the first woman Deputy Cabinet Minister for girls education. She serves as a deputy under newly appointed Education Minister prince Faisal-bin-Abdullah.
Cambodia’s U.N. backed war crimes court made final preparations for its long-awaited public trial of a Khmer Rouge leader, 30 years after the fall of the regime. Prison Chief, Kaing Gvek Eav (also known as Duch) is one of the five Khmer Rouge leaders who have been detained by the court seeking justice for the 1975-1979 regime that killed upto two million people in Phnom Penhs.
Venezuelans voted on an amendment to articles of the Constitution that would grant the President, Mayors, Local councilors, ‘Lawmakers’ and Governors unlimited bids for re-election. The President was previously allowed two consecutive terms, which would have forced the present President Mr. Hugo Chavez to step down at the end of his second mandate in 2013.
A ‘Valley of Butterflies’ is coming up on the outskirts of the city of Ranchi to house 42 varieties of the winged creatures found in Jharkhand. Two acres of forest land has been identified in the 542 acre biodiversity park at Lalkhatnga.
Pakistan has ushered in a controversial Islamic justice system in North-West Frontier province to buy peace in ‘Swat’ valley. The new Nizam-e-Adl system was announced by NWFP Chief Minister Ameer Haider Khan Hoti after an agreement with Maulana Sufi Mohammed, the head of the banned ‘Tehreek-e-Nifas-Sharia Mohammadi’. The system which apparently has the backing of the PPP-led federal government, will provide for Islamic courts headed by ‘Qazis’, or Islamic judges, in the NWFPs Malakand division that includes seven districts including SWAT. In return, Sufi Mohammed has agreed to persuade his son-in-law, Maulana Fazlulah, who is also the leader of the Taliban in Swat valley, to give up arms and militancy. The Swat Taliban announced a 10 day cease fire as the agreement was being finalized.
BACKGROUNDER
Swat (Pashto/Urdu: ) is a valley and an administrative district in the North-West Frontier Province (NWFP) of Pakistan located 160 km/100 miles from Islamabad, the capital of Pakistan. The capital of Swat is Saidu Sharif, but the main town in the Swat valley is Mingora. It was a princely state (see State of Swat) in the NWFP until it was dissolved in 1969. With high mountains, green meadows, and clear lakes, it is a place of great natural beauty that used to be popular with tourists as "the Switzerland of Pakistan".
New pension scheme was launched for widows in the age group of 40 to 64 and severely disabled persons above 18 but below 65 and below the poverty line. While the centre will provide Rs. 200 per month, the states are requested to contribute the same amount at the least for a monthly assistance of Rs. 400.
Parliament in Kyrgyzstan voted to shut a strategic U.S. airbase setup at the Manas International airport in 2001 to support the U.S. operations in Afghanistan. Manas was the last and only transit hub in central Asia after Uzbekistan shut a US airbase on its territory in 2005 after the Shanghai Cooperation Organisation demanded that the US set a deadline for withdrawing its bases from the region.
Veteran broadcaster and film critic Amita Malik died after a prolonged illness. Born in Guwahati in 1921, began her career in All India Radio. During her long career, Malik was known as the “first lady of Indian media”.
With 196 of its languages listed as endangered, India tops the UNESCOs list of countries having the maximum number of dialects on the verge of extinction. India is closely followed by the US which stands to lose 192 languages and Indonesia where 147 are in peril. These facts were revealed in the latest Atlas of worlds languages in Danger of Disappearing unveiled by the UNESCO.
Astronomers have discovered the ‘strongest ever’ gamma ray explosion, exceeding the power of some 9,000 exploding stars, in the deep-space constellation carina. The blast was discovered by Fermi Gamma-ray Space Telescope, a collaboration among NASA the U.S. Dept. of Energy and international partners, and its other instrument, the Gamma-ray Burst Monitor, recorded the event.
Fifty eight members of Rajya Sabha, from across the political spectrum submitted a motion to chairman Hamid Ansari for the removal of Justice Soumitra Sen of the Calcutta High Court on grounds of misconduct. The motion was filed under Article 217 of the Constitution to be read with Article 124, and sought the leave of the Chairman to impeach the judge for “misappropriating large sums of money which he received in his capacity as receiver appointed by the High Court and misrepresenting the facts with regard to the misappropriation before the High Court. The procedure requires the Chairman to set up a three member committee to examine it. The Chairman can accepted and admit the motion if it is in order.
Under the judges inquiry Act, each House would have to adopt the motion by a majority of two –third of those present and voting.
The revised guidelines notified by the Central government following policy changes in respect of Foreign Direct Investment incorporate significant modifications in computing the total FDI component in Indian companies and in determining the related issue of transfer of ownership or control from resident Indian citizens to non-resident entities in sectors with caps. The very definition of ‘Indian Company’, for the purpose of these rules, has undergone some important changes. Whereas all investment by an non-resident entity in an Indian film will be counted as FDI, downstream investments by an Indian company that has foreign investment but is “owned and controlled” ultimately by resident Indians will not be reckoned as FDI while determining the sectoral caps. Owning a company implies a 51% shareholding and beneficial ownership, while ‘control’ means power to appoint a majority of members to the board of directors, besides ability to legally direct the operations. Projected as an attempt to boost the FDI flow and make it consistent and homogenous across sectors, the new guidelines are expected to provide companies owned and controlled by Indian citizens a huge opportunity to bring in FDIs and then make downstream investments without worrying about the sectoral caps. It is pointed out that the governments approval is mandatory for transferring ownership and control of Indian companies to foreign entities. But the new provisions do suggest that in sectors where FDI is currently prohibited- such as multi-brand retail and real state trading- the entry of foreign capital is allowed. The various forms of foreign capital flowing into India include, NRI deposits, which are made in profitable foreign currency account, portfolio flow of capital FIIs made by institutional foreign investors that make investments in India’s debt and stock markets, investments that are being made by foreign investors in the commercial banks of India.
Noted Malayalam writer Akbar Kokkattil has been chosen for the Sambasivan award instituted by Kuwait based cultural forum ‘Kala Kuwait’ based cultural forum ‘Kala Kuwait’ recognizing his contribution to Malayalam literature.
Italian Prime Minister Silvio Berlusconis right wing government passed a decree that toughens measures against sexual crimes and illegal immigration. The decree came as a response to a public outcry against a series of rapes that have been blamed on foreigners mainly Romanians. The new legislation goes into effect immediately but needs parliaments approval within 60 days to become law. It increases jail sentences for rape, gives free legal counsel to victims of sexual violence and makes stalking a crime. It also allows Town mayors to form unarmed volunteer citizens patrols to help police forces prevent further crimes, sets a mandatory life sentence for the rape of minors or attacks where the victims is killed. The decree also allows authorities to detain immigrants for six months, up from two months, while they work to identify them, process asylum requests and expel those not entitled to stay.
Winners of the 81st Academy Awards held at Los Angels, USA include 8 Oscars for “Slumdog Millionaire” in different fields, Best motion picture, Director –Danny Boyle, Adopted Screenplay – Simon Beaufoy; Cinematography, Original score – A.R. Rehman, Film Editing, Sound mixing Original Song- ‘Jai Ho’ – A.R. Rehman and Gulzar. (Rasul Pookutty shares the Oscar with Ian Thayep and Richard Pryke for sound mixing. In the best documentary ( short ) category, Megan Mylan won an Oscar for ‘Smile Pinki’, a film shot in India. India now has five Oscar winners. Costume designer Bhanu Athaiya won for her work in Gandhi in 1983 and director Satyajit Ray won a lifetime achievement award in 1992.
The Reserve Bank of India will shortly issue 10 rupees denomination bank notes with letter ‘R’ in both numbering panels in Mahatma Gandhi series - 2005. An official release says the bank note will bear the signature of Dr. D. Subbarao, the Governor of RBI. All bank notes in the denomination of 10 rupees issued by the Reserve Bank in the past will continue to be legal tender.
The Central government has decided to open generic drug stores ( Jan Aushadhi store ) in 125 districts. The basic motive of opening of these drug stores is to keep the prices of medicines in control and these stores are now providing medicines, particularly life saving drugs at genuine rates to the people.
Comet Lulin, popularly known as “Green Comet”, came closest to the earth this week. The comet, which lay low in the sky in the east-southeast direction, was at about magnitude of five or six and was clearly observable through naked eye.
ISRO is poised to launch a breakthrough remote sensing satellite RISAT that can take pictures of earth during night and even see through clouds and fog. ISRO is planning to launch the 1,780 kg radar Imaging Satellite (RISAT) along with ANUSAT a 35 kg – micro-satellite designed by Chennai – based Anna University by March end on board the indigenously built Polar satellite launch Vehicle ( PSLV) from Sriharikota.
New 7 Wonders Foundation is organizing a contest to select the seven natural wonders in the world. 261 natural landmarks from 222 countries have been nominated. Twenty one finalists will be polled from July 2009 to 2011, based on which the final 7 wild be selected. India has four nominees. 1) The ‘National River-2,510 km Ganga originating in Gangothri ( Himalayas) through the Gangetic plains ( north India ) drains in the Sunderbans delta. It has the ability to retain oxygen, upto 25 times more than other rivers. 2) KazirangaNational Park with its largest population of the one-horned Rhino in the world. This park ( in Assam) made it to the world Heritage site list in 1985. 3) Sunderbans, the estuary was declared a Heritage site in 1984, popular for Royal Bengal Tigers. 4) Pangong Tso, natural saltwater lake at 4,250 m height in Ladakh, shared by India and China, 134 km long and 5 km wide at its broadest point.
India through an Access Agreement with European Patent Office has established a mechanism to protect India’s traditional medicinal knowledge from bio-piracy. The maiden Indian effort in creating ‘Traditional Knowledge Digital Library’ (TKDL) databased would now be available to the Patent Examiners at European Patent Office ( EPO having 34 member status). This first such agreement would provide cover against infringement of country’s rich traditional medicinal heritage having huge economic potential, of the king that was witnessed during the last decade including grant of wrong patents on wound healing properties of turmeric (1995) at the US Patent and Trade Mark Office (USPTO) and on anti fungal properties of Neem granted at EPO.
Prime Minister Council on Climate Change has identified setting up of a National Solar Mission as one of the eight National Missions under National Action Plan on climate change. The criteria for developing an identified city as solar city is to reduce a minimum of 10% of its projected demand of conventional energy at the end of five years. These cities will have a population between 0.5 to 5 million with relaxation given to special category states including North-East states. 15 states are identified ‘in-principle’ namely Agra, Rajkot, Moradabad, Gandhinagar, Nagpur, Kalyan Dombiwali, Indore, Imphal Kohiona, Dehradun, Chandigarh, Gurgaon Coimbature, Vishakapatnam and Thane for experiment.
The Ministry of Corporate Affairs has ordered investigation under the Companies Act, 1956 to be carried out into the affairs of Satyam Computers Services Ltd. The framework under the Companies Act, 1956 provides for disclosures by companies of information of the stakeholders about the state of affairs of such companies have been mandated. Government has set up an
electronic registry with round the clock access through internet. The government has powers of inspection of books of accounts of companies and also to investigate under the act. Auditors also can be appointed under the companies act. While the reporting requirements are regulated under the Companies Act, 1956, the conduct of auditors is regulated under the Chartered Accountants Act 1949. In addition, for listed companies, compliance with these statutory requirements is required to be certified by a company secretary in practice, who in turn in regulated under the Company Secretaries Act, 1980. Both the Acts were amended in 2006 to provide for effective disciplinary mechanism to deal with cases of misconduct by Chartered Accountants and Company secretaries respectively.
The Carriage by Air ( Amendment) Bill 2008, stands amended by the Parliament. It now paves way to accede to the Montreal Convention, 1999.
BACKGROUNDER
An International legal regime exists governing the liability of air carriers for injury / death, loss / damage, loss caused due to delay etc. India has ratified 1) The Warsaw convention 1929 and 2) The Warsaw Convention as amended by the Hague protocol 1955 and the same has been given effect to by the carriage by Air Act 1972. Since many kinds of regimes came up later, the ICAO embarked upon the unification of certain rules for international carriage by air which aims to achieve the dual purpose of modernizing as well as consolidating various instruments comprising the Warsaw system. This resulted in the Montreal Convention, already ratified by 86 countries, out of which 25 have direct airlinks with India. The convention seeks to increase the compensation levels.
Apart from the Short Service Commission Scheme, the government has recently decided to offer permanent commission to eligible and suitable women offices in Judge Advocate General (JAG) and Army Education Corps (AEC) in the army and their corresponding branch / cadre in Navy and Air Force, Accounts branch of the IAF and Naval Constructor of the Navy. As per the government sanction for induction of women officers under the short service commission scheme, there is a ceiling of 10% to intake in technical branch and 15% in non-technical branch. In flying branch there is a combined ceiling of 20% both Men and Women officers.
The system of Rice Intensification ( SRI) technique is popular due to its potential for yields improvement and water saving promoted under World Bank assisted by IAMWARM in Tamil Nadu, the main features include transplanting of young seedlings singly in a square pattern with wide spacing, using more organic fertilizers etc.
The National Mission for Manuscript in the Indira Gandhi National Centre for the Arts has conducted survey in 17 states and noted 38 lakh manuscripts. Of which 28 lakh are documented. The mission has details of 39,541 manuscripts / titles on Vedas, 3,564 on Upanishads, 62843 on Ramayana’s, 40,076 on Buddhism, 2,71,000 on Jainism and 85,351 on Islam. The Mission does not keep or posses physical manuscripts but prepares an electronic copy for a digital library.
The foundation of SAARC writers and Literature (FOSWAL) is organizing the SAARC literary festival at Agra in March 2009.
The Prosthetic leads to a new produce where artificial arm listens to the brain. This technique is called as targeted muscle reinnervation. It involves taking the nerves that remain after an arm is amputated and connecting them to another muscle in the body, often in the chest. Electrodes are placed over chest muscles acting as antennae.
DISCLAIMER
The information presented above has been collected from a variety of sources. Brain Tree exercises due care and caution in collecting the data before publication. Inspite of this, if any omission, inaccuracy or printing errors occur with regard to the data, Brain Tree will not be held responsible or liable.
mt. Sonia Gandhi dedicated HPCL’s Mundra-Delhi Pipeline ( MDPL) to the nation. MDPL is the first product pipeline commissioned under the principle of common carrier as laid down in the Petroleum Product Pipeline policy. MDPL runs from Mundra to Delhi. It pumps Petrol, Diesel and Kerosene. The main pumping station of the pipeline is at Mundra with two intermediate pumping stations in Gujarat at Santhalpur and Palampur and there in Rajasthan (Awa, Ajmer and Jaipur).