Current Affairs for IAS Exams - 10 January 2015

:: National ::

Coastal security is a challenge says R.K. Dhowan

The Chief of the Naval Staff, Admiral R.K. Dhowan, said that “coastal security is a big challenge” and patrolling has been stepped in coastal areas in the past few months.
“In the last few months, we are on high state of alert and have deployed Navy units, ships, aircraft and unmanned aerial vehicles in the coastal areas,” he said.
Speaking on the sidelines of the second Admiral R.L. Pereira Memorial Lecture function, Admiral Dhowan said dealing with non-state actors was always a difficult situation.
Asked about the boat allegedly carrying explosives for a possible terror attack near the Gujarat coast recently, he said: “Coastal security is a big challenge and we have a huge coastline of 7,516 km and extensive economic zone of over two million sq km.
There are nearly 5,000 merchant ships operating and over 2.4 lakh fishing boats in the area.” To maintain surveillance, the Navy had put in place the National Command and Control Communication System and Intelligence System, Admiral Dhowan said.
“Threat perception in the Indian Ocean region is wide and varied. There is threat of asymmetric warfare and other maritime threats that could emanate from the region for the country. India is fully concerned and is ready to defend its seas,” he said.

NFIR opposes FDI in Railways

The National Federation of Indian Railwaymen (NFIR) has vehemently opposed the Centre’s proposal for FDI in Railways and threatened to go on indefinite strike in June this year.
According to NFIR General Secretary M. Raghaviah, there is no need for FDI in Railways. “Government’s move to slowly hand over the Railways to foreign hands is like the entry of East India Company, which ruled the country later,” he said.
NFIR has offered the Railway Ministry to take loan from the Provident Fund of the Railway employees and repay them in due course for funding certain viable projects.
“NFIR is strongly against FDI in Railways and will oppose it tooth and nail,” Mr. Raghaviah told reporters on the sidelines of Zonal Conference of its affiliated unit Central Railway Mazdoor Sangh (CRMS).
He said if the government wants to raise money for certain new projects, it would be appropriate on their part to decide the priority and viability of the project and utilise the PF to certain extent.
Mr. Raghaviah further said that a small amount can be taken from their salaries as loan for similar purpose. NFIR had discussed the issue of their opposition of FDI with Railway Minister Suresh Prabhu and had apprised him of the lurking danger in FDI, he said.
NFIR, which represents a majority union, has accused the government of ignoring safety aspects in the Railways, and not filling vacant posts in the operating and allied departments.
Listing measures to augment revenue of the Railways, Mr. Raghaviah said passenger fare should be hiked and more facilities should be provided to them.
People are willing to pay extra provided you extend good facilities including catering, he said. Railways should discontinue paying Rs. 9,000 crore dividend to the Government, he said and questioned the facility of senior citizen concession.

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:: Business & Economy ::

SC allowed Sahara group to raise “junior loan”

The Supreme Court allowed the Sahara group to raise a “junior loan” of $650 million from a foreign lender to pay Rs.5,000 crore and bank guarantee of same amount for the release of Subrata Roy and two directors on bail.
A three-judge bench led by Justice T.S. Thakur said the amount, raised as loan against its three overseas hotels located in London and New York, would be parked in Aamby Valley (Mauritius) Ltd., a wholly owned subsidiary of Sahara group’s India-based Aamby Valley Limited.
However, the court said Sahara Group should also clear up with the Reserve Bank of India if there were any impediments under the Foreign Exchange Management Act in case of transfer of the loan amount from its Mauritius subsidiary.

Renault is set to launch sub-Rs.4 lakh car in 2015 (Register and Login to read Full News..)

:: Sports ::

Poland wins Hopman Cup

Poland has won its first ever Hopman Cup title, beating the USA 2-1 in the final. Agnieszka Radwanska showed why she should be considered among the favourites for the Australian Open later this month by beating the world No. 1 Serena Williams in the final.
The world No. 5 Radwanska teamed up with Hopman debutant Jerzy Janowicz to beat the US pairing of Serena Williams and John Isner 2-1.

:: International ::

John Kerry heads for India to attend ‘Vibrant Gujarat Summit’

US Secretary of State John Kerry headed for India to attend the Vibrant Gujarat Summit during which he will address investors to boost economic ties and meet Prime Minister Narendra Modi to discuss a broad range of bilateral and global issues, including climate change.
“The Secretary would be emphasising the importance and future potential of our economic partnership with India, State Department Spokesperson Jen Psaki told.
“Obviously the discussion would be on everything from continuing to do more economically and technologically, given that United States and India, we believe, can reach greater level of prosperity together than we would achieve alone,” she said.
The three-day Vibrant Gujarat Summit will begin tomorrow in Ahmedabad. “He would also be reiterating throughout the trip, our shared commitment to address the challenge of climate change, promoting clean energy in the future. Prime Minister Modi has a strong track record in this regard,” she said, adding that the Obama administration sees this trip as a pivotal point in India-US relationship.
After a brief stopover in Munich to meet the Sultan of Oman, Kerry leading a high-level US delegation is scheduled to arrive in Ahmedabad. Soon after his arrival, he is expected to visit the Gandhi Ashram, meet members of the civil society and visit the Ford plant, which is expected to open shortly. He would address the Vibrant Gujarat Summit and hold a round table with top Indian CEOs.
Kerry is scheduled to meet Prime Minister Modi and hold another round-table with American CEOs participating in the summit.
Referring to the multi-fold increase in bilateral trade in the last 10 years, which stands now at about USD 100 billion, Psaki said the summit is an opportunity to further the goal that US President Barack Obama and Prime Minister Modi have talked about in terms of increasing trade five-fold to USD 500 billion.