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Current Affairs for IAS Exams - 23 November 2014

National

World’s largest ring road will be developed in capital of AP

• The world’s largest ring road of 180 km will be developed in “iconic capital” of Andhra Pradesh at a cost of $ 5,000 million.
• This claim was made by the Andhra Pradesh government in the 51-page brochure brought out in connection with the visit of the Chief Minister N. Chandrababu Naidu to Japan.
• It was mentioned that the investment opportunities in the new capital would be $ 20,000-30,000 million in the next decade.
• Massive potential for PPP investments and world class urban infrastructure were also mentioned.
• The project brief stated that the Greenfield Capital City area as over 12,000 hectares and the metropolitan region of 7,000 sq.km with population of 2.1 million.

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International

China flags train to Madrid to revive the ancient Silk Route

• An 82-wagon cargo train has left for Madrid from the Chinese city of Yiwu, signaling the feverish efforts by China and Russia, to revive the ancient Silk Route, and shift the balance of power in Eurasia towards the East.
• The train, which began its journey, will travel a distance off 10,000 kilometers, 741 kilometers more than the trans-Siberian railway, the longest so far.
• Starting from Yiwu, a major trading hub 300 kilometers south of Shanghai, the train will cross Altaw pass in China’s Xinjiang province, before entering Kazakhstan.
• It will then cover five other countries — Russia, Belarus, Poland, Germany and France — before completing its mammoth 21-day journey in the Spanish capital.
• The train from China is run by Trans-Eurasia Logistics, a joint venture of Germany’s Deutsche Bahn AG and the Russian Railways (RZD).
• It symbolises the growing transportation links among Beijing, Moscow and Berlin to revive the Silk Route — a land corridor that, in its heyday, was at the heart of trade between Asia and Europe.
• It also illustrates President Xi Jinping’s vision, unveiled last year in Kazakhstan, to establish an “economic belt” along the Silk Road, which passes through the Central Asia before heading for Europe. The Chinese hope that the trans-Eurasian project would impact three billion people, across 40 countries once it is completed.
• The dream of an economic belt demands that a string of growth clusters is established along the New Silk Road. One such economic hub within China is Chongqing—a major junction along the Eurasian corridor.
• Chongqing's Liangjiang New Area—a 1200 square kilometer zone—home to big brands, such as Hewlett Packard, and Iveco — is based on Shanghai’s Pudong and Tianjin’s Binhai New Area model. An intricate
• rail and road network that connects it with west and middle China has enabled Chongqing to emerge as the growth locomotive for the entire delta area of the Yangtze river, which flows to the south, and is a major trade artery.
• The new Eurasian rail links feed directly into Chongqing’s growing international profile. In 2011 the train between Chongqing and Germany’s Duisburg in the Ruhr industrial area, was flagged, accelerating the Yangtze Delta’s integration with the global economy.

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Business & economy

BSE starts new investor service centre in the capital

• Strengthening its efforts to reach out to a larger number of investors, leading bourse the Bombay Stock Exchange (BSE) started an investor service centre in the national capital.
• The new centre would be co-ordinating the investor education and grievance redressal activities of other such centres in the northern region, including Kanpur and Lucknow.
• The exchange has about 16 investor service centres in different parts of the country.
• BSE Managing Director and Chief Executive Officer Ashishkumar Chauhan said the exchange has been in the forefront of resolving issues related to investor grievances in the “shortest possible time”.
• While inaugurating the new centre, Securities and Exchange Board of India (SEBI) chairman U.K. Sinha said in recent years the attention on investor services has gone up substantially.

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Science & technology

MP Says ‘no’ to two GM seeds field trial

• The Madhya Pradesh government has declined to give no objection certificate for field trials of two genetically modified seeds — chick pea and mustard — in the State due to doubts over adverse impact of those crops on humans, animals, biodiversity and environment.
• The decision over-rules the permission granted for such trials by the Genetic Engineering Approval Committee under the Central Government in August.
• The trials are for testing the bio-safety of the two new crop varieties. The new chick pea seed promises to increase productivity by preventing damage to crops by podborer pest.
• Yield loss in chick pea due to this pest is estimated at 21 per cent. The seed has been developed by the Delhi University’s Centre for Genetic Manipulation of Crop Plants.
• The new mustard variety is the first-ever hybrid version of the crop developed indigenously. It was developed by the Delhi University’s South Campus and had been given to Delhi-based Sungro Seeds for field trial.
• Expressing dismay, a senior official in the Central Government’s Department of Biotechnology said it was unfortunate as the new varieties could have helped increase the production of the two crops significantly in the country.

Sports

Cycling: Deborah finished with two more golds

• Deborah finished her campaign in style by securing two more gold medals in the Track Asia Cup cycling event, which concluded at the Indira Gandhi velodrome.
• Deborah thwarted a late challenge from Kazakh rider Tatyana Zadnepryanova to take the top honour in the women’s keirin event. She beat compatriot Kezia Vargheese to grab the sprint gold as well.
• In the elite events, India gathered a total of five gold, four silver and five bronze medals.
• Deborah was in complete control throughout the keirin competition. As she increased her pace with a lap to go, Zadnepryanova attacked her in the final few meters.
• However, Deborah was prepared for the challenge and withstood the pressure to clinch the title by 0.01 second.
• “I sensed it when she was about to increase her pace. I was prepared for it and was determined to maintain my pace and stay ahead,” said Deborah.
• “I was not well during the previous Asia Cup in Thailand last month and could not perform well. However, my performance here has given me some confidence to do well in bigger events,” she said.
• In the men’s keirin event, Amarjeet Singh Nagi’s spectacular performance to get past two Thai riders on the home stretch and cross the line behind winner Pavel Vorzhev turned out to be a disheartening affair as he was relegated to the sixth place for having ridden on the blue band while overtaking from left.