• Retail Inflation shot up to Double Digit Mark at 10.32 percent in April 2012
• Indian Rupee plunged to its Historic Low of 54.56 Against the U.S. Dollar
• Petrol Prices Raised by 7.54 Rupees a Liter
• Directorate General of Hydrocarbons (DGH) Drafted Policy on Exploitation of Shale Gas
• E-Challan and Receipt (ECR) facility launched by (EPFO)
• Goa topped the List of States with Highest Per Capita Income
• Small Industries Development Bank of India (Amendment) Bill, 2012 tabled in the Lok Sabha
• Morgan Stanley cut down Growth Forecast for India to 6.3 Per Cent
• IMF lowered India’s Growth Projection for 2012 to 6.9 Per Cent
• Commerce Ministry relaxed the Conditions for Sugar Exports
• Chit Funds under the Chit Fund Act of 1982 in Six States
• Competition Commission of India constituted Eminent Persons Advisory Group
• RBI directed Indian Banks to maintain Tier I Capital of at least 7% of their Risk Weighted Assets
• Following Revised Production Estimates Cotton Advisory Board, Centre allowed further Cotton Export
• Supreme Court extended the Timeline for 2G Spectrum Auction
• Union Government decided to dole out 38500 Crore Rupees to Public Sector Oil Companies
• India’s Consumer Price Inflation Figure surged to 10.36 %
• Inflation Figure for April 2012 surged to 7.23 Per Cent
• Indian Export Figure grew by 3.2 per cent in April 2012
• RBI raised Interest Rate Ceiling on NRI Deposits in Foreign Currencies
• Standard & Poor’s cut India’s Credit Rating Outlook to Negative
• Inter-Ministerial Group to maximise Coal, Shale Gas exploitation
• State-owned Oil Companies Reduced Jet Fuel Prices by Rs 312 per kilolitre
• Standard & Poor’s cut India’s Credit Rating Outlook to Negative

• 40 People Died in Bomb Explosion in the Capital City of Syria
• India to Export 2.1 million Tonnes (mt) of Iron Ore
• Twenty People died in Church Attack in Nigerian City of Kano
• India surpassed China as the Largest Arms Importer in the World
• RBI Decided to Set up a 2 Billion Dollar Swap Facility for SAARC Nations
• 50 People killed in a Superjet 100 Aircraft Crash in Russia
• Tomislav Nikolic won the Serbia’s Presidential Election
• Nepal Cabinet Tendered Resignation to form New Government
• Aung San Suu Kyi sworn in As the Leader of Opposition in Myanmar
• Union Cabinet of India approved Proposal by Oman to hike the Gas Price
• The Dalai Lama, Received the Templeton Prize
• 14 People died in a Plane Crash in Jomsom in Nepal
• Pakistan Successfully Testfired Hatf III Ghaznavi Missile
• Vladimir Putin sworn in as the President of Russia
• More than 90 Soldiers Killed in Yemen
• United States Announced the Partial Rollback of Sanctions on Myanmar
• Jean-Marc Ayrault took over as the New Prime Minister of France
• Arsalan Rahmani Daulat Assassinated in Kabul
• Jordan’s Parliament Passed a Law to Encourage a Multiparty Political System in the Country
• 24 people killed and scores injured in the Suicide Blast in Pakistan
• Yusuf Raja Gilani convicted for Contempt of Court

• Report on Status of Implementation of SCs & STs [Prevention of Atrocities] Act 1989 released
• Indian Navy inducted Newly Built INS Teg Frigate in Its Fleet
• Supreme Court upheld Election Commission’s Poll Symbol Rules
• Farmers entitled to the Highest Market Value as Compensation
• Petition against Army Chief- Designate Lieutenant General Bikram Singh dismissed
• 7.6 Billion Dollar TAPI Gas Pipeline Project approved
• Union Cabinet approved Bill seeking Amendment in the Registration of Births and Deaths Act, 1969
• CVC Reconstituted the Advisory Board on Bank, Commercial and Financial Frauds
• Government cleared Rs 8500-crore Project to promote connectivity in Naxalite-affected Districts
• Two Boats Capsized in Brahmputra River in Assam
• Rajya Sabha Passed Amendments to the Central Educational Institutions Act

Advance Indian Standard Time by half an hour

• Load Demand Data
• Problems Of Time Zones
• Problems Of Dst
• Advance Ist By Half An Hour.
• How is Energy Saved?

Why the British visa system should be scrapped

• ECONOMIC LOSS

Permit to plunder the sea

• LETTER OF PERMIT SCHEME

• NO RECORDS

The problem of rising prices is one of the most important problems that India is facing now. Over the past several years rising prices have become a chronic malady in India’s national life. They have given rise to widespread distress, especially among people who are already living at the subsistence level and also among those in the fixed income group, viz., wage earners and the salaried c lasses. Because of persistent increases in the prices of the necessaries of life, the number of people living below the poverty line has been steadily increasing. The unprecedented rise in prices of almost all the important necesscities of life has posed a serious problem before us. Millions of people find it hard to earn one square meal a day, because prices of food grains, edible oils, sugar other food articles have been r aising very rapidly. This has caused great unrest among common people. The annual average of whole sale prices index always owes an increasing trend. This alarming rate of increase in prices has thrown the countries economic out of gear and made common man’s life miserable millions in India to-day sleep without food at night. All their day’s work does not even promise them sufficient to eat and drink. Everybody is complaining  of increasing prices day by day. Prices have become double in the last few years and there are many things which are now beyond the r each of common people. This phenomenal increase in prices is not the result of any simple factor. There are several factors which are responsible for it. Apart from industrialists, manufacturers and middle men, our government is also at fault. It is increasing taxes.

Indian Rupee breached the Rs 55 per dollar mark and closed at 56 on 30th May, 2012 - its weakest since May 14, 2009. Most forex dealers In Mumbai during the week predicted that in the absence of any positive news, the rupee could soon touch the 60 mark against the dollar. From an investors’ perspective, the movement of rupee may not matter much as only a few can f igure out that unlike Sensex, the rupee going up is not positive news, but on the contrary, it actually means rupee is becoming weaker. Many wrongly think that if rupee goes up it is something good for them not realising when the Indian currency depreciates ag ainst any foreign cur rency it has many negative impacts from the economic point of view. Due to Risk Aversion on the part of Currency Investor s, the Demand for the US Dollar has gone up wor ld over. Uncertain Economic Situation around the globe is another reason. FII’s The Rupee is Under Attack  turning Net-Sellers and withdrawing funds from the Indian Market. The concept of Risk Aversion is the same irrespective of what timeframe you are talking about. But, the cur rent situation is much more riskier & pronounced than what was in 2007-08. Back then, the problem was localized to debt problems (loans & mortgages) in USA and had only a ripple effect across the globe. Right now, the problem is more profound and markets world-over are in a crisis and some countries are on the verge of Default. So, people are much more risk averse than what they were in 2008 and hence the situation is much worse than during the mortgage economic crisis.

A suicide bomber killed more than 90 soldiers and left over 200 people injured in Yemeni capital Sanaa. Terrorist group Al-Qaida claimed the responsibility of the attack. The suicide bomber, dressed in military outfit, detonated his hidden explosives when the chief of army staff was watching the parade. The two top military officials managed to survive the multiple bombings. The west Asian country, which is also the poorest among the Arab nations, is facing a great danger from the radical Islamic elements in the country. It has been battling the Islamist militants scattered across the region. Yemen over the past few years has emerged as a strong base of Al Qaeda in the Arabian Peninsula. The strong presence of Islamic fanatics in the country poses a grave threat not only to regional security but also to the global peace. Militants have taken the maximum advantage of political turmoil in Yemen over the past one year to gain a foothold in the country. The political uprising in the country in 2011 saw the president Ali Abdullah Saleh stepping down after a long year of rule.

Four years after being elected, Nepal’s Constituent Assembly (CA) got dissolved without delivering a statute. Prime Minister Baburam Bhattarai’s Cabinet, despite opposition from a major ruling partner, decided to holdfresh elections on November 22 for a new CA. The deal-breaker was the contentious issue of federalism. The Maoist-Madhesi combine sought a firm commitment that the 10- state model or the 14-state model, recommended by the constitutional commission and committee respectively, would be guaranteed as the basis for federal restructuring. The Constituent Assembly was elected to a two-year term in 2008 to draft a new constitution but has been unable to finish the task. Its tenure has been extended four times, but the Supreme Court rejected any further extensions. The assembly’s formation came two years after prodemocracy protests forced Nepal’s king to give up authoritarian rule and restore democracy in the country. One of the assembly’s first decisions was to abolish the centuries-old monarchy and convert Nepal into a republic. The political parties have been able to resolve some other thorny differences in the past, including the future of thousands of Maoist rebel fighters who were confined to camps after giving up their armed revolt in 2006. However, they have not been able to agree on the ethnic issue.

India, Pakistan, Afghanistan and Turkmenistan, inked the historic gas sale purchase agreement (GSPA) for the $7.6- billion Turkmenistan-Afghanistan- Pakistan-India (TAPI) gas pipeline, in a step that is likely to boost peace and give new shape to regional energy cooperation,often touted as the peace pipeline. The 1,680 km pipeline to become operational by 2018. The U.S. has, for almost 20 years, supported the plan to pipe natural gas over 1,100 miles from Turkmenistan via Afghanistan to Pakistan and India, commonly known as the TAPI pipeline. But the  project was delayed because of the Taliban insurgency in Afghanistan and commercial disagreements between the partners. The TAPI pipeline will have a capacity to car ry 90 million metric standard cubic metres a day (mmscmd) of gas for a 30-year period and is likely to become operational by 2018. Last week, the Union Cabinet gave its nod to the signing of GSPA and also approved the payment of 50 cents per million metric British thermal unit (mmBtu) as the transit fee to Pakistan and Afghanistan for the gas. India and Pakistan would get 38 mmscmd each, while the remaining 14 mmscmd will be supplied to Afghanistan.

HC Notice to Centre, UPSC on IAS scarcity

The Jharkhand high court on Monday issued notices to the Centre and the Union public Service Commission (UPSC) on the crisis Indian Administrative Service (IAS) officers in the state.

Corruption