Weekly Current Affairs Update for IAS Exam VOL - 24 (12th May 2014 TO 18th May 2014)

Weekly Current Affairs Update for IAS Exam

VOL - 24 (12th May 2014 TO 18th May 2014)

Issue : VOL - 24 (12th May 2014 TO 18th May 2014)

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Covered Topics:

NATIONAL PORTAL OF INDIA

A GLINT OF INDIA

Key policy rates unchanged at 8%

The Reserve Bank of India left its benchmark lending rate unchanged, taking a break from a recent string of rate increases, to gauge whether the country's high inflation rates are easing back to acceptable levels.

The RBI kept its key overnight lending rate, which it had raised at three of the previous four policy meetings, steady at 8% and in line with expectations. The central bank also left the cash reserve ratio, or the minimum percentage of deposits that lenders must park with the RBI, unchanged at 4%.

Though India's inflation has slowed in recent months, the RBI was quick to caution that there still are many factors that could inflame inflation, such as weak rain during the June-September monsoon season, triggering a surge in food prices.

The bank said it is implementing recommendations of an RBI-appointed committee's report that earlier this year suggested the central bank bring consumer price inflation down to 8% by January 2015 and to 6% by January 2016. Unlike some other central banks, the RBI hasn't had a formal inflation target.

The Indian central bank also reduced the amount banks can borrow from it overnight, while allowing more seven and 14-day loans. That move should help make banks more disciplined, as well as help pass on policy rates to borrowers and depositors.

Stock prices in India barely budged on the RBI's moves. The Bombay Stock Exchange's S&P BSE Sensex index ended the day only 0.3% higher. Indian bond and currency trading was closed on Tuesday.

The RBI has increased its key lending rate by three-fourths of a percentage point since Mr. Rajan took the helm as governor in September. The former chief economist for the International Monetary Fund has been building his credentials as an inflation buster by raising rates even as the country struggles with an economic slowdown. As with many economists, his view is that one of the best ways to encourage sustainable growth is keeping prices in check.

Higher lending rates have helped drag India's economic growth rate down to the lowest level in a decade. India's gross domestic product grew 4.7% between October and December compared with the like period a year earlier. That was its seventh consecutive quarter of sub-5% growth.

Indian growth rates have been much higher. In January-March 2011, for example, the country's GDP grew at 9.9% pace.

(Courtesy: http://www.mea.gov.in)

Ministry of External affairs

Successful conduct of elections in Ukraine

India welcomed the successful conduct of the presidential elections in Ukraine and congratulates the Government and the friendly people of Ukraine, as well as President-elect Mr. Petro Poroshenko on his victory in the election.

India is a firm believer in the power of the expression of democratic will by the people. As the largest democracy in the world, India has recently seen a vibrant election where the people have voted a new Government with a clear mandate. The unambiguous mandate in Ukraine will hopefully provide a healing touch after the recent incidents of violence. India hopes that the election of Mr. Poroshenko as the fifth President of the Republic of Ukraine, would lead to an inclusive dialogue among various sections of Ukraine’s population for a peaceful resolution of the crisis, restoring peace and stability in Ukraine and in the region.

Ties between India and Ukraine, which are marked by warmth and friendship, have grown stronger over the years. India looks forward to further strengthening its comprehensive partnership with Ukraine.

(Courtesy: http://www.mea.gov.in)

Planning Commission of India

Prime Minister’s New 15 Point Programme for the Welfare of Minorities

1. The Hon’ble President, in his address to the Joint Session of Parliament on February 25, 2005, had announced that the Government would recast the 15 Point Programme for the Welfare of Minorities with a view to incorporate programme specific interventions. Prime Minister, in his address on the occasion of Independence Day, 2005, announced inter-alia that “We will also revise and revamp the 15 Point Programme for Minorities. The new 15 Point Programme will have definite goals which are to be achieved in a specific time frame”. In pursuance of these commitments, the earlier programme has been revised as the Prime Minister’s New 15 Point Programme for the Welfare of Minorities. A copy of the programme is enclosed.

2. The objectives of the programme are as follows:-

a) Enhancing opportunities for education.
b) Ensuring an equitable share for minorities in economic activities and employment, through existing and new schemes, enhanced credit support for self-employment, and recruitment to State and Central Government jobs.
c) Improving the conditions of living of minorities by ensuring an appropriate share for them in infrastructure development schemes.
d) Prevention and control of communal disharmony and violence.

3. An important aim of the new programme is to ensure that the benefits of various government schemes for the underprivileged reach the disadvantaged sections of the minority communities. The underprivileged among the minorities are, of course, included in the target groups of various government schemes. But in order to ensure that the benefits of these schemes flow equitably to minorities, the new programme envisages location of a certain proportion of development projects in minority concentration areas. It also provides that, wherever possible, 15% of targets and outlays under various schemes should be earmarked for minorities.

4. The emphasis of the programme on the maintenance of communal peace and harmony, through appropriate measures, and ensuring a reasonable representation of minorities in government, including the public sector, remains as emphatic as ever and these continue to be important constituents of the new programme.

5. The programme does not envisage any change or relaxation of any criteria, norms or eligibility conditions in any scheme for minorities. These would continue to be as provided for in the original schemes included in the programme.

(Courtesy: http://planningcommission.nic.in)

NATIONAL EVENTS

Paid news scandal

  • The Election Commission has asked the former Maharashtra Chief Minister Ashok Chavan and the former Jharkhand Chief Minister, Madhu Koda, to appear before it on May 23 for allegedly giving incorrect accounts of their 2009 poll expenses.

  • It is an ongoing case of alleged expenses made by him during the 2009 polls which were categorised as “paid news”. Mr. Chavan and Mr. Koda have been asked to attend the hearing here on May 23 “either in person or through their authorised representative or counsel.

  • The poll panel’s action comes a week after the Supreme Court gave it a free hand to inquire into complaints of paid news or incorrect expenses against a political leader. A Bench headed by Justice A.K. Patnaik had dismissed the plea of Mr. Chavan challenging the EC’s jurisdiction to inquire into such issues.

Indian Universities in Asia’s top 300

  • Seventeen Indian universities have made it to the Asia Pacific rankings of ranking agency Quacquarelli Symonds (QS) this year compared to 11 last year. Ranking agency QS released the rankings, which include Asia's top 300 universities, in association with non-profit organisation The Indian Centre for Assessment & Accreditation (ICAA) in New Delhi.

  • Six Indian institutes have made an entry to the list. Banaras Hindu University, Panjab University, Manipal University, Amity University, Birla Institute of Technology and Science, and the Indian Institute of Information Technology made it to the Asia rankings for the first time this year.

  • As in the previous editions of the rankings, the Indian Institutes of Technology (IITs) led the way. IIT Delhi held on to its 38th position like last year, ahead of IIT Bombay which was placed at 41. Five other IITs featured in the top 100, led by Kanpur and Madras just outside the top 50 at 52 and 53, respectively.

Whistle-blowers Bill

  • President Pranab Mukherjee has given assent to the Whistleblowers Protection Bill, 2011, which was passed by the Rajya Sabha in February.

  • The law provides for an institutionalised mechanism to protect, and thus encourage, those who disclose information on corrupt practices or abuse of power by government officials.

  • The Bill was first passed by the Lok Sabha in 2011. The law makes a provision for inquiry into the disclosures and also prescribes punitive measures to curb frivolous complaints. According to the Centre, it supplements the Right to Information Act in fighting corruption.

  • In 2004, the government introduced a resolution to empower the Central Vigilance Commission for protecting whistle-blowers.

INTERNATIONAL

Self-Rule in Ukraine

  • Security forces and pro-Russian separatists clashed in eastern Ukraine, after an unauthorised referendum showed overwhelming support for independence from the pro-Western government in Kiev.
  • Separatists in Sloviansk targeted soldiers and the television tower with grenades,.
  • Recent vote in the self—proclaimed “people’s republics” of Donetsk and Lugansk was organised by the separatists despite international condemnation and a call from Russian President Vladimir Putin for a postponement.
  • The separatists said voter turnout exceeded 80 per cent, with a “yes” vote of nearly 96 per cent in Lugansk and 90 per cent in Donetsk.
  • Eastern Ukraine’s pro-independence leaders said the next step would be to build government and military structures for a “New Russia” in the region.
  • The Ukrainian government, the European Union and United States do not recognise the vote. Washington criticized Russia for not using its influence to stop the vote. Mr. Putin meanwhile said he would study the results before commenting.

First electric aircraft

  • The world’s first airplane completely powered by electricity has successfully taken to the skies for its maiden flight, and could bring down air travel cost by more than a third, its developer Airbus said.
  • The small experimental aircraft called ‘E-Fan’ took off from an airport near Bordeaux in southwestern France. E-Fan measures little more than 19 feet from nose to tail and slightly more noise than a hairdryer.
  • Powered by 120 lithium-ion polymer batteries, the plane’s first official flight last month lasted less than 10 minutes, though the plane has the capability to fly for around an hour before recharging.

INDIA AND THE WORLD

A1 visa

  • The U.S. has said the heads of state and government are eligible for A1 visas and no individual automatically qualifies for an American visa ,under the INA (Immigration and Nationality Act). No individual automatically qualifies for a U.S. visa.
  • However, the U.S. law exempts foreign government officials, including heads of state and heads of government from certain potential inadmissibility grounds.
  • In 2005, the U.S. State Department revoked Mr. Modi’s visa on the ground of alleged human rights violations after the 2002 Gujarat riots.

ECONOMY

Introduction of minimum wage in Switzerland

  • Swiss voters have rejected a proposal to introduce a minimum wage of 3,000 Swiss francs per month (4,500 dollars).
  • 77 per cent of voters cast ballots against the measure.
  • At 25 dollars an hour, it would be the highest minimum wage in the world.
  • The referendum was launched by left-wing parties and trade unions, which argued that such a salary was necessary for making a decent living in Switzerland, where the cost of living is among the highest in Europe.
  • The government and employers associations had campaigned against the plan, warning that companies would shift operations to neighbouring countries and Switzerland’s important tourism sector would suffer.

Closure of few iron ore mines

  • The Supreme Court ordered the temporary closure of nearly half of the iron ore mines in top producing state Odisha due to non-renewal of years-old leases, in a blow to local steel mills that depend heavily on high-quality ore from the state.

  • Odisha, which allows exports of only half of total iron ore output, produced more than 70 million tonnes in the last fiscal year from 56 operating mines.

  • The move is unlikely to lift global iron ore prices given the limited flows from Odisha to international markets, but it could force Indian steelmakers to source the raw material overseas and soak up some of a forecast global supply surplus.

  • The 26 suspended mines produced about 40 million tonnes.

  • The verdict could force steelmakers to cut output or import expensive iron ore.

SCIENCE AND TECH

MERS virus

  • Despite a recent surge of ‘Middle East respiratory syndrome coronavirus’(MERS-CoV) cases, a meeting of an expert committee called by the World Health Organisation has concluded that conditions for declaring a ‘Public Health Emergency of International Concern’ had not been met.

  • The fifth meeting of WHO’s Emergency Committee for MERS-CoV, which was first convened last year took into account the fact that there had been sharp increase in cases since this March, particularly in Saudi Arabia but also in the United Arabian Emirates.

  • Since the virus was first detected in humans two years back, a total of 152 people have now died and 495 have been confirmed to have contracted the virus in Saudi Arabia, according to an Associated Press report. Most cases of the disease have been in the desert kingdom.

  • Egypt, Greece, Malaysia, Philippines, and the U.S. have recently reported isolated cases in individuals who had travelled there from the Middle East. The Netherlands has now reported its first such case.

  • Seasonality could be a factor driving the recent increase. The virus is widespread in camels in the Middle East and north-east Africa, and the animals appear to become infected when young. Increased spread of the virus from camels to humans might be contributing to the outbreak.

SPORTS

Rome Masters

  • Serena Williams won her third title of the season as she delivered a crushing 6-3, 6-0 defeat to Sara Errani to win a third trophy at the Rome Masters .
  • The world number one now heads to the French Open on solid form after winning the week in Rome after withdrawing from a Madrid semi-final last weekend with a thigh injury.
  • Williams becomes the first player on the WTA to lift three trophies this season after beating Italy’s Errani for the seventh time with the loss of just one set in that series.

World's Highest Paid Footballer

  • Barcelona and Lionel Messi have agreed an improved contract that will reportedly make the four-time World Player of the Year soccer's best-paid player with a net annual salary of 20 million euros ($27.4 million).

  • The Argentina captain would also regain control of his image rights, further boosting the income of a man Forbes magazine estimates is the 10th highest-earning athlete, with annual revenues of $41.2 million including wages and endorsements.

  • FC Barcelona has reached an agreement to adjust the terms in the contract binding Leo Messi to the club as a professional first team player.

  • Messi is Barca's all-time leading scorer with 354 goals in 424 official games and news of the deal is a boost for the club before Saturday's La Liga showdown against Atletico Madrid.

IN THE NEWS (PERSONS)

Nita M. Ambani

  • The board of directors of Reliance Industries Ltd. (RIL) has recommended the appointment of Chairman Mukesh Ambani’s wife and Chairperson of Reliance Foundation Nita M. Ambani, as a director on the board of RIL.
  • She is being nominated to the board in place of Ramnik H. Ambani, who is retiring at the age of 90 years.
  • Approval of the shareholders will be sought in the 40th AGM being held on June 18.

Nabam Tuki

  • Veteran Congress leader Nabam Tuki was sworn in as Chief Minister of Arunachal Pradesh for the second consecutive term at the Raj Bhavan in Itanagar.
  • Governor Lt. Gen. (Retd) Nirbhay Sharma administered the oath of office and secrecy to Mr. Tuki in an impressive function held at Darbar Hall of Raj Bhavan in Itanagar.

Selected Editorials of Importance

Lessons from Mullaperiyar

The Supreme Court’s verdict in the Mullaperiyar Dam case is largely a reiteration of its findings in a February 2006 judgment on the height and safety of the dam and is consistent with its earlier pronouncements. Two decades ago, the apex court struck down a Karnataka law that sought to nullify the interim award of the Cauvery Tribunal, and now, the Court has invalidated a Kerala amendment to circumvent the 2006 judgment, allowing the raising of the storage of the Mullaperiyar Dam from 136 feet to 142 feet. The dispute was between Kerala’s stand that the dam built in 1895 is not safe enough to store water above 136 feet and that there should be a new structure, and Tamil Nadu’s position that it is structurally sound and needs only strengthening, not replacement. The judicial outcome has some valuable lessons for our quasi-federal polity. First, it proves that unilateral action in inter-State matters is ill-advised. Secondly, it shows the courts are able and willing to adjudicate impartially on sensitive issues with political overtones that could inflame regional passions. Therefore, merely harping on “protecting the rights” of one’s own State to the detriment of another is not an option. The verdict sends out a message that rights crystallised by judicial orders cannot be abrogated by legislation.

States should not forget that they are successor entities to either princely rulers or the British government, and pre-Independence agreements still survive. There may be scope for revisiting these agreements in a spirit of accommodation and in tune with present-day requirements, but their antiquity or pre-Constitution status can no more be cited as a reason to deny rights flowing from such instruments. Courts have been zealous about equitable distribution of water and seldom countenance attempts at undermining equity. In the Mullaperiyar case, safety, and not appropriation of water, was the issue. The finding that the dam is safe on structural, hydrological and seismic aspects ought to be given the respect that judicial finality deserves. Regretting the rigid and inflexible stand taken by the two parties, the Court has flagged the two alternatives suggested by an Empowered Committee that can be implemented if the two States come to an agreement: a new dam, or a new tunnel at a particular elevation so that some currently unused quantum of water may be evacuated when the dam is under strain. While a new dam may not be feasible in the heart of a wildlife sanctuary, the second option could be considered at some stage in the future so that fears that seem to be widespread in Kerala are set at rest. Until then, the Court’s directives on the reservoir level should be scrupulously implemented.

(Courtesy: The Hindu)

MCQs

:: National ::

Q1.

i) President of India Mr. Pranab Mukherjee has given assent to the Whistleblowers Protection Bill, 2011, however was passed by the Rajya Sabha .
ii) The record of highest margin of victory in India till now is set by Anil Basu of the CPI(M).

Which of the above statement/statements is /are true?

a) Only i
b) Only ii
c) Both i and ii
d) Neither i nor ii

:: International ::

Q2.

i) There was a clash between security forces and pro-Russian separatists in eastern Ukraine, after an unauthorised referendum showed overwhelming support for independence from the pro-Western government in Kiev.
ii) ‘E-Fan’ is world’s first airplane completely powered by electricity that has successfully taken to the skies for its maiden flight.

Which of the above statement/statements is /are true?

a) Only i
b) Only ii
c) Both i and ii
d) Neither i nor ii

 

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