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Current Affairs for IAS Exams - 11 June 2014

First session of 16th Lok Sabha

The first session of the 16th Lok Sabha adjourned sine die after the adoption of the motion of thanks to the President’s address.
With very little disruption of proceedings, all the business listed for this short session was transacted on schedule. This included the swearing-in of the newly election members, the election of Speaker and adoption of the motion of thanks.

Shortage of seeds is staring in the face of the farmers ahead of kharif season in Srikakulam district, notwithstanding the tall claims by the government on making seed distribution a smooth affair.
It is estimated that over 1.5 lakh quintals of seeds of all varieties are needed for the farmers who cultivate 2 lakh hectares in 38 mandals. But the government is unlikely to supply the seeds in the required quantity, with the shortage of supply by the AP Seeds and other organisations.
The supply for the kharif season is expected to be around 49,000 quintals this time of which around 33,000 quintals have been sent to the 67 sale points set up at various places in the district.

The ‘Better Together’ campaign, which wants Scotland to remain within the United Kingdom, has landed the biggest endorsement that any popular movement could hope for.
J.K. Rowling, the author of the Harry Potter series, is Scotland’s very own international celebrity with a name that resonates in all parts of the globe. A Scot who wears her patriotism on her sleeve, her firm “No thanks” (the slogan of the Better Together campaign) to the Yes campaign’s promise of an independent Scotland has given the Better Together campaign a much needed shot in the arm.
Ms. Rowling has also announced a donation of £1 million to the campaign.
There are less than 100 days left for the referendum on Scottish independence.

Ukraine’s Prime Minister has rejected a Russian proposal to sell Ukraine gas at a discount, insisting that the contractual price be lowered.
Russia had insisted that cash-strapped Ukraine pay about 2 billion dollars to settle its gas arrears, but Ukraine now has until 0800 GMT .
Russia upped the price to 485 dollars after it annexed Ukraine’s Crimea region in March, saying that a previous discount hinged on the lease agreement for its Black Sea Fleet stationed on the peninsula.
The gas talks in Brussels are being watched closely across Europe as Russia has threatened to shut down gas shipments to Ukraine. Such an action would threaten a large source of supplies to Western Europe, which happened in 2009.

India’s trade deficit rose to a 10-month high of USD 11.23 billion in May even as exports grew by 12.4 per cent, highest rate in six months, on improvement in the global demand.
Trade deficit, the difference between earnings from exports and outflow on account of imports was USD 10.09 billion in the previous month. It was however, lower than USD 19.37 billion in May 2013.
Helped by healthy growth in key sectors such as engineering, petroleum products and garments, exports during the month increased USD 28 billion from USD 24.9 billion in May 2013. However, imports dipped by 11.4 per cent at USD 39.23 billion.
Gold imports in May dipped by 72 per cent to USD 2.19 billion, as against USD 7.7 billion in May 2013.
In the April-May period of this fiscal, exports grew by 8.87 per cent to USD 53.63 billion. Imports during the period dipped by 13.16 per cent to USD 74.95 billion, leaving a trade deficit of USD 21.3 billion.