Current Affairs for IAS Exams - 29 November 2014

Current Affairs for IAS Exams - 29 November 2014

National

26 crore spent on Rampal’s arrest told HC

• A whopping Rs 26.61 crore was spent on the arrest of Rampal and security arrangements for producing him in court, the Punjab and Haryana High Court was informed.
• The High Court had earlier sought details in this regard. The list includes expenditure incurred by Haryana, Punjab, Union Territory Chandigarh and the Centre.
• In an affidavit, Haryana DGP S N Vashisht pegged the expenditure on Rampal’s arrest alone at Rs 15.43 crore.
• This includes Rs 2.19 crore as damage to public property, government property and farm crop; over Rs 7 crore on deployment of police including two IGP rank officers; Rs 1.69 crore spent by railway police; Rs 2.36 crore as transport expenditure and Rs 4.50 lakh on ‘food for force’.

GDP growth rate disappoints

• The economy slowed in the first full quarter of the new government, growing at 5.3 per cent against 5.7 per cent in the previous April-June quarter.
• Poor manufacturing performancem which nearly came to a grinding haltm dragged down GDP growth. Factory output grew 0.1 per cent during July-September against 3.5 per cent in the previous quarter, show data released by the Central Statistics Office.
• The pick-up in government’s clearances of projects over the last six months did not show up in the growth data. Capital formation growth, an indicator of investment activity, remained low at 28.3 per cent, falling marginally from 28.6 per cent.
• Both the Finance Ministry and former Finance Minister P. Chidambaram said that the slowdown was broadly on the expected lines.
• No one should be surprised, said Mr. Chidambaram. “When the government rushed to take credit for the first quarter’s growth, I had cautioned them.”
• He said that government should have focussed on the signs of a sluggish economy.

State govt. puts Hudhud loss at Rs. 21,908 crore

• The State government has estimated the losses suffered from cyclone Hudhud at Rs. 21,908 crore and requested the visiting Central team to consider the nature’s fury as severe and recommend adequate Central assistance accordingly.
• In a memorandum submitted to the Central team that toured Visakhapatnam, Vizianagaram, Srikakulam, and East Godavari districts, the government described the losses as unprecedented and sought release of Rs. 9,857 crore as immediate assistance to take up repairs and restoration of the damaged assets.
• Four Ministers -- Prathipati Pulla Rao, Ch. Ayyanna Patrudu, Ganta Srinivasa Rao and K. Atchannaidu -- met the Central team headed by K. K. Pathak and submitted the memorandum.
• They told media persons later that the government was planning to give incentives to help industries in the region and modalities were being worked out.
• There was a delay in taking up repair works as the government was waiting for the Central team’s visit to show the extent of damage, Mr. Atchannaidu said and added that the government would release the amount to the affected persons immediately without waiting for release of funds from the Centre.
• The government had spent Rs. 700 crore on relief and rehabilitation, including Rs. 400 crore received from Centre, he said.
• The government was planning to build cyclone resilient homes in villages five km from the coast to help the villagers. The process of identifying such habitations would be taken up and the proposal grounded at the earliest.

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International

Japan casts shadow on China’s bullet train ambition

• Having lost a contract in Mexico that was supposedly in the bag, China is keeping its fingers crossed regarding a possible bullet- train deal with India along the 1,754 kilometre Delhi-Chennai high speed rail corridor.
• A commentary that appeared in the Global Times, affiliated to the Chinese communist party, apprehended that the Sino-Indian partnership in the high-speed rail domain “has not yet been well-received by the Indian public”.
• Besides, it observed that “Japan, which is also eyeing the market and has pledged to offer a more attractive funding scheme, is a serious rival in the sector.”
• Yet, notwithstanding its rivalry with Tokyo, the daily was hopeful that in case the first rail project after President Xi Jinping’s September visit to India materialised, it could become a game-changer, yielding “untold dividends for both sides.”
• The commentary, which was also carried by the People’s Daily, the official newspaper of the Chinese government was timed with visit to China by a five-member delegation of India’s High Speed Rail Corporation, led by its chairman, Satish Agnihotri.
• The delegation is engaged in nailing the “terms of reference” of the feasibility study, which Chinese authorities will undertake to establish a high-speed rail corridor between Delhi and Chennai.
• Highly places sources told that the finalisation of the study of the Delhi-Chennai corridor does not mean a commitment to award the high-speed rail contract to a Chinese company.
• China’s mixed response to the prospect of a deal, which could turn travel time between Delhi and Chennai to around 6 hours, follows its recent debacle in Mexico.
• On November 3, Mexico’s transport minister, announced that China-the only bidder had won the contract for the 210 kilometre rail link between Mexico City and Queretaro, the upcoming industrial centre to the north.
• Yet, in an unexpected turn of events, Mexico’s President Enrique Pena Nieto decided "to revoke the November 3 ruling and restart" the bidding process.

Mexico’s President announces a nationwide anti-crime plan

• Mexico’s President announced a nationwide anti-crime plan that would allow Congress to dissolve local governments infiltrated by drug gangs and give state authorities control over often-corrupt municipal police.
• The plan announced by President Enrique Pena Nieto came two months after 43 teachers college students disappeared in the Guerrero city of Iguala, allegedly killed and incinerated by a drug gang working with local police. Huge marches have been held to protest their disappearance.
• Mr. Pena Nieto suggested his plan was influenced by the Iguala tragedy, noting its “cruelty and barbarity have shocked Mexico”. “Mexico cannot go on like this,” he said, adding, “After Iguala, Mexico must change.”
• As if to underscore the problem, authorities said that they had found the decapitated, partly burned bodies of 11 men dumped on the side of a road near another Guerrero city.
• The President’s plan would also relax the complex divisions between which offenses are dealt with at federal, state and local levels.
• At present, some local police refuse to act to prevent federal crimes like drug trafficking. It would also seek to establish a national identity number or document, though it was unclear what form that would take.
• The plan would focus first on four of Mexico’s most troubled states Guerrero, Michoacan, Jalisco and Tamaulipas.
• More federal police and other security forces would be sent to the “hot land” region overlapping the first two states, where the government has already sent significant contingents of federal police and soldiers.
• “My response to the police operation in the ‘hot lands’ is- ‘What? Another one?’” said Mexico City-based security analyst Alejandro Hope, alluding to a string of previous anti-crime initiatives in the area. “The same as the others, for a limited time and without the right conditions?”

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Persons in news

Avinash Chander will continue as DRDO chief

• Defence Research and Development Organisation (DRDO) Chief Dr. Avinash Chander will retire on November 30 but will continue to occupy the position on contractual basis till May, 2016.
• “The President is pleased to retire Dr. Avinash Chander, Secretary, Department of Defence Research & Development, in the Ministry of Defence from Government service with effect from November 30 on attaining the age of superannuation,” an official statement said .
• “The appointment of Dr. Chander beyond his date of retirement — for 18 months — would be on contract basis, with the same terms and conditions as he would be entitled to Secretary (DRD) before the date of retirement,” the statement said.

Business & economy

Indians invest estimated $ 5.8 b in U.S. residential properties in 2013

• Indians bought residential properties in the U.S. estimated at $5.8 billion in value terms for the year ending March 31, 2014.
• A report by the U.S. National Association of Realtors (NRA), released in October, said the investment magnitude represented a growth of about 6 per cent over the previous year.
• The report further said that Indians spent an average of $459,028 (Rs.2.81 crore) to buy properties across cities like Los Angeles, Las Vegas, Chicago, Dallas and New York.
• “This is definitely an interesting finding. Indian high net worth individuals (HNIs), who have obtained American citizenship and are settled there, have several reasons for investing in properties in the U.S.,’’ Anuj Puri, Chairman & Country Head, JLL India, a leading real estate consultancy said. “Many Indians who have become naturalised U.S. citizens have business interests as well as families in major American cities.’’
• Investment in the U.S. property market is once again favourable. After the steep post-Lehman downturn, countless investors had been able to snap up properties in American cities at unbelievably low prices, and these investments are seeing handsome returns now that the U.S. real estate market is reviving.
• For resident Indians, the Reserve Bank of India (RBI) had earlier curtailed flight of Indian money by capping remittances and rendering investment into foreign properties impossible.
• “It was only recently that the annual investment ceiling for individuals to buy overseas property under the Liberalised Remittances Scheme (LRS) was increased from $75,000 to $125,000.
• It had been at $200,000 before being reduced to $75,000 and subsequently being hiked to $125,000. Buyers need to be allowed to commit more,’’ Mr. Puri told this correspondent.
• The annual limit of $125,000, equivalent to Rs.75 lakh, broadly means that if an Indian resident wants to buy a house in the U.S. worth $ 460,000 (the average ticket size of apartments bought by Indians in the U.S. as per the NAR report), he can do so in three or four instalments with a gap of one year between every two instalments,’’ Mr. Puri said.

RBI come out with final norms for uniform payment collection system

• The Reserve Bank of India came out with the final guidelines for the Bharat Bill Payment System (BBPS), which will help consumers pay multiple bills like electricity, telephone and school fees at a single point of transaction.
• “The BBPS is an integrated bill payment system offering inter-operable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment,” the RBI said in a notification.
• The RBI-promoted payment retail gateway and the issuer of the Rupay debit Cards, the National Payment Corporation of India (NPCI) has been appointed as the nodal body.
• The apex banks has set a Rs.100-crore net worth and domestic registration as qualifying conditions for those seeking to be authorised collection agents.
• RBI Governor Raghuram Rajan had first announced the central bank’s intention to set up BBPS in the second quarterly monetary policy review last year, after which a committee was constituted to suggest the way forward.
• Based on the recommendations, it posted the draft guidelines on the same on August 7. The move will help track all the payments being made in economy, including cash payments to utilities, schools, and telcos among others.
• Stressing on the need to have such a system in place, the RBI pointed to a 2013 estimate, which said over 30,800 million bills amounting to Rs.6.22 lakh crore are generated each year in the top 20 cities alone.

Sugar industry keen on extending export subsidy

• The sugar industry, which has been grappling with lower prices and surplus stock, is keen on the continuation of the export subsidy on raw sugar exports, which would help it reduce some of its stocks.
• The sugar output for the 2014-15 season was estimated at 25-25.5 million tonnes, while domestic consumption was at 24.7 million tonnes, according to government figures. Besides, the opening stock on October 1 was at 7.45 million tonnes.
• Industry watchers feel there are no positive cues for sugar, and encouraging more exports is the only alternative.
• “There are no issues on the supply side because of the surplus,’’ Pallavi Munankar, sector analyst at Geofin Comtrade, a commodity trading outfit, said. “Sugar prices are under pressure, and mills are continuously selling as there is a huge stock.’’
• Besides, the world’s largest sugar producer Brazil witnessed drought conditions in the April-September season.
• “For the first time in five years, the global sugar market may slip into a deficit albeit not a large one and this could continue into 2015-16 owing to lower production and increased consumption,’’ Ms. Munankar said.
• To take advantage of the global scenario, the industry expects the government to extend the sugar subsidy scheme, which was introduced in February by the previous government.
• The scheme was to be reviewed every two months, and under it, raw sugar exports of up to 40 lakh tonnes would receive a subsidy of Rs.3,300 a tonne. This was revised to Rs.3,371 a tonne for the August-September, 2014, period.
• A person from the Uttar Pradesh Sugar Mills Association (UPSMA) said the industry situation was grim. “The major concern is sugar prices and survival for mills is difficult.
• Millers have started crushing cane”, but the government has to continue encouraging exports due to huge inventory.’’

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Sports

Sreenith sets new National record in Athletics

• Kerala’s Sreenith Mohan scripted a new national record in high jump in the Jio 30th junior National athletic championship.
• Wearing spikes of two different colours, Sreenith, in the u-20 segment, cleared a height of 2.18m thus creating new national and meet record.
• “One spike belongs to previous national record holder Nikhil, who is my good friend and the other belongs to my coach’s best student who is a word-class jumper. I wear them to inspire me,” said Sreenith, whose personal best is 2.20m.
• The results: Boys: U-14: 100m: 1. Biswa Ranjan (Ori) 11.73s; 2. Vishal Bhatia (UP) 11.92; Vivekanand (AP) 11.95; Shotput: 1. Satywan (Teg) 15.54m; 2. Birkang (Asm) 12.89, 3. Harshpreet (Pun) 12.70.

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Science & technology

1.1 million HIV infections among children prevented: UNICEF

• An estimated 1.1 million human immunodeficiency virus (HIV) infections among children under the age of 15 have been prevented between 2005 and 2013.
• According to data released by the UN Children’s Fund (UNICEF) ahead of World AIDS Day, new HIV infections among children has declined by about 40 percent between 2009 and 2013, Xinhua reported.
• However, the global goal of reducing the figure by 90 percent is still out of reach, the data said.
• The progress has been made through providing more pregnant women living with HIV with services for the prevention of mother to child transmission (PMTCT), such as lifelong HIV treatment which can reduce the transmission of virus to babies and keep their mothers alive.
• The sharpest declines took place in eight African countries, including Malawi, Ethiopia, Zimbabwe, Botswana, among others.
• However, only 67 percent of pregnant women living with HIV in all low- and middle-income countries received the most effective treatment for PMTCT in 2013.
• An estimated 190,000 children under the age of 15 died of AIDS-related causes in 2013 due to lack of treatment.
• “If we can avert 1.1 million new HIV infections in children, we can protect every child from HIV but only if we reach every child,” UNICEF Executive Director Anthony Lake said.

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Sources: Various News Papers & PIB

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