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Current Affairs for IAS Exams - 12 October 2014

National

PM launches village adoption scheme for MPs

• Taking forward his announcement during his address to the nation on August 15, Prime Minister Narendra Modi unveiled a blueprint for the Saansad Adarsh Gram Yojana (SAGY) on Jayaprakash Narayan’s birth anniversary.
• The scheme encourages Members of Parliament from both Houses to identify and develop one village from their constituency as a model village by 2016, and two more by 2019, covering over 2,500 villages of the 6 lakh villages country-wide.
• “This is not a rupiya-paisa yojana but a demand-driven, people’s participatory scheme. There are 800 parliamentarians and in three years, 2,500-odd villages could get covered. If States were to initiate their own similar schemes with MLAs, 6,000 to 7,000 villages could get covered. One good village can affect an entire area, and a viral effect could begin,” Mr. Modi said while unveiling SAGY for which no new funds have been allocated.
• The 65-page outline for the Sansad Adarsh Gram Yojana, released by Prime Minister Narendra Modi, in the presence of Rural Development Minister Nitin Gadkari, requires MPs to identify one village with a population of 3,000-5,000 in the plains and 1,000-3,000 in the hills within a month for convergence of existing schemes for socio-economic development of the area.
• MPs can choose any village except their own or their spouse’s. There is no other criterion. MPs are expected to facilitate a village development plan, motivate villagers to take up activities and use the Rs.5-crore MPLAD fund to fill gaps for funds besides mobilising “additional resources especially from Corporate Social Responsibility” in sewage and water supply schemes.

SC to hear PIL against rise in drug price

• The Supreme Court will hear next week a public interest writ petition challenging a circular providing for increase in the prices of life-saving and other essential drugs.
• A Bench of Chief Justice H.L. Dattu and Justices S.A. Bobde and A.M. Sapre told petitioner-advocate M.L. Sharma that the PIL would be listed for hearing as expeditiously as possible.
• The petitioner said the National Pharmaceutical Pricing Authority (NPPA) had issued a circular on September 22 providing for a hike in the prices of 108 life-saving drugs, resulting in a windfall gain to pharmaceutical companies.
• “There are approximately 4.1 crore diabetes patients in India, 5.7 crore people have coronary heart disease, 22 lakh suffer from TB, 11 lakh from cancer, 25 lakh from HIV/AIDS and 6 crore blood pressure patients who are in need of life-saving drugs,” he said.
• The petitioner alleged that there was a conspiracy among government officials and pharmaceutical companies for allowing an increase in drug prices. Citing examples of the steep increase in drug prices, he said, “Glivec, an anti-cancer tablet, rose from Rs. 8,500 to Rs. 1.08 lakh; Plavix, a blood pressure/heart ailment tablet rose from Rs. 147 to Rs. 1,615; anti-rabies injection and Kamrab from Rs. 2,670 to Rs. 7,000.” “The government succumbed to pressure from industry lobbies,” he claimed.

Cyclone Hudhud bears down on Vizag

• Ahead of Cyclone Hudhud, classified as very severe, more than 1.5 lakh people were evacuated to 370 relief camps and shelters from four districts of Visakhapatnam, Srikakulam, Vizianagaram and East Godavari of Andhra Pradesh. With up to 45 cm of rainfall and wind speeds of 180 kmph expected, Hudhud is due to make landfall between Visakhapatnam and Kalingapatnam in Srikakulam district.
• Prime Minister Narendra Modi asked Union Home Minister Rajnath Singh to be in touch with the Chief Ministers of Andhra Pradesh and Odisha. Cyclone Warning Centre Director Ramachandra Rao said the movement of Hudhud was being tracked every minute.

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International

G20 urges U.S. to support IMF reform

• Finance Ministers and Central Bank Governors from G20 countries had sharp words for the U.S. Congress, with the Group Treasurer describing Capitol Hill as being a “very difficult… obstacle” in their bid to pass internal reform of the International Monetary Fund (IMF).
• Issuing the Group’s statement during the annual fall meetings, Australian Finance Minister Joe Hockey, whose nation currently holds the Group’s presidency said,
• “It does affect the U.S. and their reputation, when there is global agreement and in fact agreement from the White House to undertake IMF reform… For domestic reasons the U.S. Congress might not be moving on this issue but for global reasons the U.S. should move on this issue.” More broadly, the Ministers and Governors said regarding the world economy, “While some key economies are recovering, others face renewed weakness.”
• Their statement also emphasised an agreement regarding a Global Infrastructure Initiative, and a Global Infrastructure Hub to support the Initiative, to be finalised before the Group leaders’ summit in November.
• The issue of reforming the Bretton Woods institutions has been a long-standing one, particularly for emerging economic powers such as India and China, who have consistently argued that the changing global dynamics favours their economies and it is high time that the institutions’ constituent structure reflected this new reality.
• In 2011, shortly before the announcement of the candidacy of current IMF Managing Director Christine Lagarde, its Executive Directors from the BRICS economies had openly revolted against the prospect of the top role remaining with a European.

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Sports

Roger Federer claims another Masters title

• Roger Federer claimed one of the few titles to have previously eluded him after he overcame a sluggish start to beat injured Frenchman Gilles Simon in the final of the Shanghai Rolex Masters.
• The Swiss 17-times Grand Slam singles champion triumphed 7-6(6), 7-6(2) to register his 23rd Masters Series title and first in China, where strong winds saw the roof on the Stadium Court closed for the hard court final.
• The 33-year-old let off a huge roar and threw both fists into the air after a battling Simon could only net a return to hand the Swiss a fourth title of the year and 81st of an unparalleled career.
• It had all begun so well for the unseeded Frenchman, who broke a sloppy, error strewn Federer in the opening game and comfortably held firm until he felt the pressure of serving for the set at 5-4 and began to creak.
• With his first serve and accurate groundstrokes deserting him, Federer had two break points but wasted the first with an alarmingly high 14th unforced error only for Simon to hand him the game on the next point after netting a backhand.

Business & economy

IIP will not impact GDP growth: Nirmala Sitharaman

• Union Minister of State for Commerce and Industry Nirmala Sitharaman, dismissed fears about the latest data on index of industrial production (IIP), saying they were overly worrisome and would not impact the country’s GDP growth.
• The Minister, along with Minister of State for Textile Santosh Gangwar, was here to meet the stakeholders in the jute industry.
• Responding to reporters’ queries, Ms. Sitharaman said over the last few months, the government had improved the ease of doing business. There were signs of revival, or else agencies such as Standard and Poor’s would not have assigned a stable outlook to India.
• To a question on FTAs (free trade agreements), she said a review of SEZs (special economic zones) and FTAs was now in the final stages. The new Foreign Trade Policy, due to be announced soon, would give domestic manufacturers and exporters the benefit of the revisions.
• She said her Ministry wanted better utilisation of the FTAs for boosting exports, adding that India was keen on FTAs with ASEAN countries.
• On WTO negotiations, Ms. Sitharaman said India believed in multi-lateral agreements, but not at the cost of the country’s sovereignty.