Weekly 10 June To 16 June 2013

WEEKLY CURRENT AFFAIRS BULLETIN
10TH JUNE 2013 TO 16TH JUNE 2013
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CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS
NATIONAL
New Initiatives for Faster Construction of National Highways 60,000 sq km of Western Ghats to be green zone The Ministry of Road Transport and Highways has decided to adopt the Engineering Procurement and Construction (EPC) mode for National Highways which are not viable on PPP basis. The 12th Five Year Plan envisages construction of 20,000 km of 2-lane National Highways projects. The Union environment ministry is expected to approve the K Kasturirangan panel report on the Western Ghats and declare around 60,000 sq km of the southern hills - spanning across six states as a no-go area for mining, thermal power plants and heavily polluting industries. The Planning Commission- headed by K Kasturirangan - had been set up by the central government after an earlier report of a team of ecologists, headed by NAC member Madhav Gadgil, had suggested that almost 75% of the ghats be put under various levels of restrictions. The suggestion was opposed by states and other interest groups. The Gadgil committee had also suggested a blanket ban on mining and pitched for the powerful Western Ghats Authority to be the final arbiter of development activities in the region. The Kasturirangan panel had scaled down the area that was recommended for protection under the ecosensitive zone provisions of the Environment Protection Act. It suggested that 90% of the natural forests in the Western Ghats complex - adding up to 60,000 sq km and constituting 37% of the entire hilly belt - be conserved under the Ecologically Sensitive Area (ESA) provisions of the Environment Protection Act, 1976. Disagreeing with the Gadgil report, it also recommended against setting up of a centralized authority that would override all existing decisionmaking mechanisms under the green laws and the federal structure. Even when the environment ministry does accept the Kasturirangan panel report, the process of declaring eco-sensitive zones in the Ghats is bound to take long as it requires extensive regional and on-the-ground diligence. New Inter-Agency Structure proposed for cyber security
The Government has adopted the EPC mode of construction to ensure implementation of projects to specified Standards with a fair degree of certainty relating to cost and time and with a view to enabling a transparent, fair and competitive roll out of National Highway projects. The EPC mode is different from the conventional Item Rate Contracts. Experience has shown that such contracts are prone to excessive time and cost over runs. The EPC mode assigns the responsibility for investigation, design and construction to Contractors for a lump sum price awarded through competitive bidding, wherein provision for index based price variation is made. As per this initiative, training programmes on the EPC mode of construction for the officials of the State PWDs, shall also be organized in all the States alongwith the review meetings. It is envisaged to impart training to the concerned officials, Consultants as well as Contractors on the implementation of projects to specified standards with certainties relating to cost and time and also on sound contractual framework for allocating risk and rewards equitably between Government and the Contractor. The concerned Chief Engineers of the Ministry shall be the Nodal officers for organizing these programmes. The participants shall also include senior officers of the Ministry, including those of the Transport Wing and the NHAI. The Ministry of Road Transport and Highways has also decided to conduct critical review meetings of the National Highway works, in the respective States. The new initiative has been adopted to resolve the hindrances in the construction of National Highways on a fast track and to ensure seamless construction of National Highways in the country.
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Government of India is all set to launch new cyber security architecture amid recent revelations of compromising of Indian data by US National
Weekly Current Affairs 10th June to 16th June, 2013
Security Agency (NSA). The new architecture will create an interconnected set of organizations in key departments like National Technical Research Organization (NTRO), defence, home, and Computer Emergency Readiness Team (CERT). A Cyber Security Coordinator will preside over the new inter-agency structure. A key aspect of the architecture is that the government will work with ISPs to oversee metadata of Indian users but not mine the data. National security adviser (NSA) Shivshankar Menon had flagged off a set of recommendations for government private sector collaboration on cyber security last October and that forms the basis of the new architecture. The recommendations included the government and private sector jointly training almost five lakh cyber-security professionals in five years. The government is also keen that Indian companies develop indigenous security software because they feel foreign-origin software is compromised. But Indian companies have still not been able to master the kind of code-writing expertise that is seen in the US and Russian cyber entities.
But how that is to be achieved will be unveiled in due course. The government plans to facilitate the private sector in setting up cyber-security infrastructure, auditing performance, implementing global best practices, training professionals etc. The expectation is that the new cyber-security policy will somehow stop the sniping that happens regularly between Indian cyber entities, particularly since they are doled out as compensation to peeved civil servants with only a passing knowledge of cyber-security issues. Besides, the government has to find ways to attract talent to head these organizations. Ministry of Minority Affairs proposes a joint committee for Skill Development of Minorities
However, unlike China, India has lagged behind in implementing IPv6 (internet protocol) which is not only more secure but also makes it easier to "hide" certain important information through encryption that is not possible under the current IPv4 in use here. China has been in the forefront of using IPv6, precisely for this reason. Beijing has been less affected by the global surveillance by the US partly because it has already set up its own cyber structures, including its own social media, and don't western services like Twitter and Facebook.
The prospect that massive amounts of data from Indian public and private entities have been compromised by the US has added to New Delhi's dilemma. At the heart of India's problems is the fact that any attempt by the Indian government to install a regulatory system for cyber activities could compromise India's IT and ITes industry. On the other hand, the lack of sensible security structures mean that the nation's IT industry would find it difficult to do the sensitive stuff as repeated breaches of security in Indian IT firms have increased. For instance, the international ATM fraud that cleaned out over $45 million from two Gulf banks has an Indian footprint. The government plans to work closely with the private sector to develop a more coordinated policy.
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Shri K. Rahman Khan, the Union Minister of Minority Affairs has suggested to set up a Committee of the three Business Chambers and Ministry of Labour and Employment to give impetus to the efforts to promote Skill Development and Employment Opportunities in Public and Private Sectors for minorities. Minister asked to join hands with the CII, FICCI and PHDCCI for the entrepreneurship development for minorities, as a part of their Corporate Social Responsibility for Skill Development. Referring to Multi-sectoral Development Programme (MsDP) of the Ministry for creation of infrastructure like ITIs, Polytechnics etc. in minority concentration blocks and towns, the Ministry desired that the three Chambers should weave their efforts and partner to augment the Ministry's initiatives. The Minister also suggested launching a sustained awareness campaign to disseminate information on the initiatives taken by the Ministry in partnership with Private Sector. The Minister urged that the resources of private business houses can be provided to MAEF under the Corporate Social Responsibility for the development of minorities in the fields of education, infrastructure development, providing scholarships, skill development and entrepreneurial development. Informing that Government intends to give incentive to the institution that promotes diversity, the Minister also wanted to know what else Government can do for such institutions. Earlier, reviewing the minorities' status in employment in Government and public sector, the Minister directed the Department of Personnel and Training to ensure that all Selection Boards/ Committees for recruitment in Government and
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Public Sector must have a Member belonging to minority community. He further directed to sensitize all Government Departments in this regard and to provide a status report. Mental Health Care Bill cleared by the Cabinet
or non-functional Central and Mental Health Authorities primarily because of lack of funds. Under the proposed new law, there is provision for voluntary admission with supported admission limited to specific circumstances; appeals can be made to the Mental Health Review Commission, which will also review all admission beyond 30 days and free care for all homeless, destitute and poor people suffering from mental disorder. The Bill provides right to confidentiality and protection from cruel, inhuman and degrading treatment, in addition to right to live in a community and legal aid. It bans the electric-convulsive therapy without anaesthesia and restricts psychosurgery. GOI gives SEBI, RBI access to call data records
Persons with mental illness constitute a vulnerable section of society and are subject to discrimination in our society. Families bear disproportionate financial, physical, mental, emotional and social burden of providing treatment and care for their relatives with mental illness. In 2005, the National Commission on Macroeconomics and Health reported that 10-12 million or one to two per cent of the population suffered from severe mental disorders such as schizophrenia and bipolar disorder, and nearly 50 million or five per cent from common mental disorders such as depression and anxiety, yielding an overall estimate of 6.5 per cent of the population. The prevalence of mental disorders was higher among women, those who were homeless, poor and living in urban areas. Thus the Union Cabinet has cleared the Mental Health Care Bill, 2013 that makes access to mental health care a right of all persons. Such services should be affordable, of good quality and available without discrimination. The proposed law also decriminalizes suicide. The Bill, in consonance with international laws, has the provision of Advance Directives - described as a progressive and far-sighted step. No person who has recorded an Advance Directive to State that he or she should not be admitted to a facility without consent can be so admitted.
A rights-based Bill also has a provision wherein a person with mental illness can appoint a nominated representative to take decisions for him or her. Under the provisions of the Bill, government has an obligation to provide half way homes, community caring centres and other shelters for mentally ill people. This has been planned under the District Mental Health Programme in the 12th Plan.
The new Bill, once approved by Parliament, will repeal the Mental Health Act, 1987, which had vested extra-ordinary power in the hands of the treating psychiatrists. There was enough evidence of misuse and unscrupulous families collaborating with psychiatrists in addition to badly functional
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Centre has decided to include SEBI and RBI among the nine agencies which will be authorized to accesss call data records (CDRs). The home ministry is finalizing the new norms for interception in concert with the department of telecom. The inclusion of the central bank and market regulator is meant to help them track economic offences, including insider trading and money laundering. For the RBI, access to CDRs is expected to help it track money laundering. As of now, only the police is empowered to access CDRs under Section 92 of the Criminal Procedure Code (CrPC) on the basis of an FIR. However, there is no law in place to access CDRs in the absence of an FIR. It is to fill this lacuna that the ministries of home and telecom are now mulling changes in the Indian Telegraph Act to lay down the norms to regulate accessing of CDRs from the telecom service provider. The development comes against the backdrop of alleged attempts by a Delhi Police constable to access CDRs of leader of opposition in the Rajya Sabha Arun Jaitley. The proposed changes in the Telegraph Act include making authorization by the home secretary or, possibly even a joint secretary in the home ministry as the home secretary is already burdened with the pile of tapping requests, mandatory for access of CDRs. However, there shall be a key difference between requests for lawful interception and CDRs. While only nine designated agencies including CBI, Intelligence Bureau, R&AW, Narcotics Control Bureau, DRI, CBDT, ED, NIA can make phone tapping requests, the field is likely
to be thrown open wider for CDR requests. The thinking is that unlike tapping, where the content is monitored, the CDRs only give away limited information on numbers called and messaged, and can be handled by a wider list of agencies without seriously compromising privacy.
SEBI, RBI and all other investigative agencies without any tapping powers are therefore being considered for authorised access to CDRs. This will help them establish a trace of insider trading, market fraud or flouting of money laundering norms, and initiate timely action.
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INTERNATIONAL
Global agreement to fight malnutrition in children Leaders from around the world have signed an agreement "Global Nutrition for Growth Compact" to fight the malice of malnutrition in children and reduce the number of child deaths. At present stunting affects 165 million children worldwide. Among the participants in the central London summit, hosted by Britian's PM David Cameron, were two presidents and four prime ministers from Africa, philanthropist Bill Gates, former UN secretary general Kofi Annan and Unilever chief executive Paul Polman. Donors have secured new commitments of up to 2.7 billion ($4.15 billion) to tackle under nutrition up to 2020. The charter also set itself a target to improve the nutrition of 500 million pregnant women besides improving saving the lives of at least 1.7 million children by increasing breastfeeding and better treatment of severe and acute malnutrition. The UK has committed an additional 375m of funding from 2013 to 2020. Countries that have previously increased nutrition funding, like the US and Canada committed to continue those high levels of funding while others, like the European Union, the World Bank and Ireland, have increased their support substantially. potato and corn) to feed their families and local areas, and promoting breastfeeding as a priority for protecting nutrition and saving lives. This will also support the governments of developing countries to formulate high quality national nutrition plans and helping them to mobilize domestic resources for them ensuring businesses in developing countries place good nutrition at the heart of their workforce welfare priorities. World population projected to reach 9.6 billion by 2050: UN
Undernutrition is a chronic lack of nutrients that can result in death, stunted physical development and in a lower resistance to illnesses in later life. It is the biggest underlying cause of death in under five-year-olds in the world and is responsible for 8,000 child deaths each day. It stunts the growth of children, reducing their potential, undermining their adult earnings by up to 10%, and in some countries reducing the size of the economy by 11% as a result.
The funds will focus on making world-class scientific knowledge and evidence available, including through a new Global Panel on Agriculture and Food Systems for Nutrition. This will enable farmers to grow nutrition-rich and resilient crops (such as vitamin-enriched sweet
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According to a United Nations report, the current world population of 7.2 billion is projected to increase by 1 billion over the next 12 years and reach 9.6 billion by 2050, which points out that growth will be mainly in developing countries, with more than half in Africa. The report, World Population Prospects: the 2012 Revision, notes that the population of developed regions will remain largely unchanged at around 1.3 billion from now until 2050. In contrast, the 49 least developed countries are projected to double in size from around 900 million people in 2013 to 1.8 billion in 2050. Compared to previous assessments of world population trends, the new projected total population is higher, mainly due to new information obtained on fertility levels of certain countries. For example, in 15 high-fertility countries of subSaharan Africa, the estimated average number of children per woman has been adjusted upwards by more than 5 per cent. In some cases, the actual level of fertility appears to have risen in recent years; in other cases, the previous estimate was too low. While there has been a rapid fall in the average number of children per woman in large developing countries such as China, India, Indonesia, Iran, Brazil and South Africa rapid growth is expected to continue over the next few decades in countries with high levels of fertility such as Nigeria, Niger, the Democratic Republic of the Congo, Ethiopia and Uganda but also Afghanistan and Timor-Leste, where there are more than five children per woman.
The report notes that India is expected to become the world's largest country, passing China around 2028, when both countries will have populations of 1.45 billion. After that, India's population will continue to grow and China's is expected to start decreasing. Meanwhile, Nigeria's population is expected to surpass that of the United States before 2050. Europe's population is projected to decline by 14 per cent, the report states, and warned that the continent is already facing challenges in providing care and support for a rapidly aging population. Overall, life expectancy is projected to increase in developed and developing countries in future years. At the global level, it is projected to reach 76 years in the period 2045-2050 and 82 years in 20952100. By the end of the century, people in developed countries could live on average around 89 years, compared to about 81 years in developing regions. The report's figures are based on a comprehensive review of available demographic data from 233 countries and areas around the world, including the 2010 round of population censuses. IEA report on 2012 fossil fuel carbon emissions
But more to be done to reduce our fossil fuel consumption. IEA has stated that to have a realistic chance of avoiding 2C warming, emissions need to peak by the year 2020. The earlier they peak, the better chance of limiting the impacts of climate change to an adaptable level. The IEA report presented four recommendations for limiting global warming to 2C: a) Increase energy efficiency in buildings, transportation, and industry. b) Limit the construction and use of inefficient coal power plants. c) Minimize methane emissions from oil and gas production. d) Accelerate the phase-out of fossil fuel subsidies. The IEA has also calculated that making clean energy investments sooner would be cheaper than leaving them until after 2020. About $1.5 trillion should be spent before 2020 to meet climate targets, it found, but if the investments are left until after 2020 it will take $5 trillion to achieve the same results. US, China Agreement to Target Potent Greenhouse Gas
The International Energy Agency (IEA) 2012 World Energy Outlook Report found that annual carbon dioxide emissions from fossil fuels rose 1.4 percent in 2012 to 31.6 billion tonnes (gigatonnes [Gt]). The bad news is that this is a new record high level of emissions. The good news is that it represents the second-smallest annual increase since 2003, behind only 2009 when global fossil fuel carbon emissions fell due to the global recession. Emissions estimates from 2009-2010 have also been revised downward, so the reported 31.6 Gt 2012 emissions match the reported value from 2011.
American emissions of carbon dioxide from fossil fuels fell by 200 million tonnes (Mt) to levels last seen in the mid-1990s due to a transition from coal power to natural gas and renewable energy. European emissions fell 50 Mt due to economic contraction and renewable energy growth, despite an increase in coal energy use. Perhaps most encouraging, although Chinese emissions grew by 300 Mt in 2012, this was among the country's smallest annual emissions growth over the past decade. This is a result of China diversifying its energy sources and installing more renewable energy.
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Two of the planet's biggest greenhouse gas emitters, China and the United States, have agreed to cooperate on phasing down production of a group of synthetic chemicals in order to combat climate change. They would be targeting Hydrofluorocarbons (HFCs) --a group of replacement chemicals for products such as refrigerators and foams for which there are already a range of climate and ozonefriendly alternatives. HFCs are beginning to replace another group of chemicals known as HCFCs that damage the ozone layer-the thin gassy layer around the Earth that filters out deadly levels of ultra-violet light from the sun. But UNEP warned that while HFCs are ozonelayer friendly they are, however, powerful greenhouse gases: if taken up by industry over the next few years and decades they are likely, by 2050, to amount to emissions equivalent to 3.5 to 8.8 Gigatonnes (Gt) of carbon dioxide. That is comparable to total current annual emissions from transport, estimated at around 6-7 Gt annually according to a UNEP-coordinated study from 2011. The US and Chinese leaders will work through the Montreal Protocol, the UNEP-hosted treaty established to protect the ozone layer, and the
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United Nations Framework Convention on Climate Change (UNFCCC) to achieve international action in respect to phasing down the consumption and production of HFCs. UNEP, in partnership with over 60 countries and organizations, is also working to phase-down some HFCs and other so- called short-lived climate pollutants such as black carbon or 'soot' and methane under a one-year-old initiative called the Climate and Clean Air Coalition (CCAC). This voluntary Coalition is promoting reduction of short-lived climate pollutants to tackle air pollution, bring widespread benefits for health and agriculture as well as to lead to near-term climate benefits. While short-lived climate pollutants are responsible for a substantial fraction of near-term climate change, actions on short-term climate pollutants need to be complemented by deep and rapid cuts in CO2 emissions if global mean temperature increase over the 21st Century is to be held below 2C. Global Peace Index 2013
although the United States ranks 100th out of 162 countries. The U.S. ranks especially high in the nuclear and heavy weapons category and with its jailed population, all indicators of a non-peaceful nation. The U.S. has one of the highest incarceration rates in the world, high homicide rates and a wide availability of small-arms. The sharp increase in the number of homicides - up eight per cent over the last year - can be almost entirely attributed to Latin America and SubSaharan Africa with, for example, the homicide rate in Honduras further increasing by almost 10 per 100,000 people - becoming the highest in the world at 92 homicides per 100,000 people. The overall deterioration of the military spending indicator in the GPI is primarily due to a large number of low-middle income countries, typically authoritarian regimes like Iran, Iraq, Oman, Zimbabwe and Afghanistan, Cote d'Ivoire and Democratic Republic of the Congo having increased their expenditure to more than seven per cent of GDP. In contrast, some slight improvements were evident over the last year on the indicators of the likelihood of violent demonstrations and the Political Terror Scale, a measure of State-sponsored terror, with improvements in countries such as Kenya, Kyrgyz Republic, Zambia, and Tunisia. Syria's descent into civil war recorded the greatest score deterioration in the history of the Index. Additionally, many Middle Eastern and North African countries continue to be affected by the fallout from the Arab Spring with violent demonstrations and further political instability. The data also revealed evidence of countries being able to make significant gains in peace. Libya,
According to the 2013 Global Peace Index published by the Institute for Economics and Peace,
the world is a less peaceful place. Overall, the world is 5 percent less peaceful than in 2008, with war-ravaged Syria's global peace index declining the most, by 70 percent.
A dramatic rise in the number of homicides and 59 more countries increasing their military expenditure as a percentage of Gross Domestic Product were the key drivers in making the world a less peaceful place, according to the 2013 GPI.
The most peaceful region in the world is Europe, which has 13 of the top 20 most peaceful countries. All the countries in Europe score higher than average, except Turkey. The top three most peaceful countries are Iceland, Denmark and New Zealand. Small and stable democracies make up the top ten most peaceful countries. North America is the second most peaceful region in the world,
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for example, experienced the greatest rise in peace as its newly elected government and recovering institutions were established following the turmoil of the recent revolution and civil war. North Africa also had more to celebrate as Sudan and Chad experienced the second and third most substantial gains as their respective conflicts eased. Ranking of India India ranks low at 141in this year's Global Peace Index (GPI) that measured peace in 162 countries, according to 22 qualitative and quantitative indicators of the absence and fear of violence. The major indicators that bring down India's ranking are militarisation, domestic and international conflicts, and corruption. However, despite an increase in military expenditure, India made positive gains in its level of peace after reductions in deaths from internal conflict and the level of perceived criminality in society. In the South Asian region, Sri Lanka is one notch above India at rank four while Bhutan is the most peaceful country. It is followed by Nepal, Bangladesh, Sri Lanka, India, Pakistan and Afghanistan, in that order.
requiring all public limited companies to fill at least 40 per cent of their board seats with women. Women make up half of the current government. Women already serve in the military, but do so of their own volition. They make up a tenth of the armed forces. The change is not expected to force women to serve against their will but should help improve the gender balance. Pakistan may declare Panja Sahib as a holy city
Norway Became First NATO and European Country to Draft Women in Military Service
Norway's parliament voted overwhelmingly to conscript women into its armed forces, becoming the first European and first NATO country to make military service compulsory for both genders. Rights and duties should be the same for all. Norway has been at the forefront in the fight for gender equality, introducing measures such as
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The Pakistan Government has decided to declare 'Panja Sahib' a holy city and a function would be organized by Pak-Indo Friendship Association to mark this historic occasion. Panja Sahib is believed to house a rock having the hand print of Guru Nanak, founder of Sikh religion, and is a popular pilgrimage spot for Sikhs across the world. People hope that selection of Nawaz Sharif as the Prime Minister will lead to improvement in relations between India and Pakistan. Already, the opening of trade from the Attari-Wahga land route has been a big step forward and despite the tension at one point or the other, the trade between the two countries from this route has remained unaffected. Punjab is the major gainer from the opening of this route. The two countries are also engaged in negotiations to supply power to Pakistan. It may be mentioned that Deputy Chief Minister Sukhbir Singh Badal had also offered to supply power to Pakistan once the state becomes surplus with the new thermal plants coming up. The declaration of Panja Sahib as a holy city would set another milestone in the improvement of relations between India and Pakistan.
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ECONOMY
Powers for approval and appraisal of National Highways projects modified by CCEA The Cabinet Committee on Economic Affairs (CCEA) approved the proposal for a change in the delegation of powers for appraisal and approval of National Highways projects. This will simplify the appraisal and approval of the National Highway projects. At present, projects of Rs.500 crore or above require investment approval of the CCEA but projects below Rs. 500 crore have varying appraisal and approval levels, depending on the source of funding and mode of implementation of projects. National Highways projects above Rs. 500 crore would now be appraised by a Committee chaired by Secretary, Expenditure or the PPPAC, as applicable and approval will be given by the CCEA in accordance with extant guidelines and instructions. the prescribed bid process, model contract documents and manuals of specification and standards by MoRTH, this delegation is expected to expedite the approval process without compromising on due diligence and physical prudence. Foreign investment limit in government debt hiked by $5 billion
Appraisal of projects below Rs. 500 crore, other than those to be appraised by Ministry of Road Transport & Highways (MoRTH) would be carried out by Standing Finance Committee (SFC) chaired by Secretary, Road Transport & Highways (RTH) with the approval by Minister, RTH subject to fulfilment of certain conditions. In case conditions are not satisfied, the proposal would be brought before the Public Private Partnership Appraisal Committee (PPPAC) or Committee chaired by Secretary, Expenditure for public funded projects and sent to the CCEA for decision. In case of a difference of opinion or dissent by members of the SFC representing Planning Commission / Department of Economic Affairs / Financial Adviser regarding approval of the project, the dissent would be recorded and considered by the Minister, Road Transport and Highways for an appropriate decision. The delegation available with MoRTH for appraisal and approval of projects as result of this rationalisation will be raised to Rs. 500 crore. With increase in costs over time, a large number of projects taken up by MoRTH are in the range of Rs. 300 crore to Rs. 500 crore. Since the process of formulation and appraisal of National Highway projects is well established after the adoption of
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In a strong measure aimed at defending the rupee, the Centre has announced a hike in the foreign investment limits in government debt by $5 billion. The measure aims at reversing the outflow of FII funds from debt instruments, one of the reasons for the depreciation in the rupee in recent weeks. Currently, the government debt limit stands at $25 billion, of which 75 per cent is estimated to have been used up so far. The SEBI, in a circular issued stated that the enhanced limit of $5 billion shall be available for investments only to those FIIs that are registered with the market regulator under the categories of sovereign wealth funds, multilateral agencies, endowment funds, insurance funds, pension funds and foreign central banks. These limits were last revised on September 23, 2012. The higher limit comes in the backdrop of the rupee breaching the Rs 50/dollar mark, an expected spurt in the current account deficit, and a poor investor response to recent auctions of government debt. The rupee has slumped nearly 13.5% from its year-high in July due to a widening trade deficit that could worsen the current account deficit to over 3% of GDP, from 2.6% in 2010-11 fiscal. The decision to hike the FII limit in the government debt along with a central bank decision to buy back bonds worth $2 billion next week helped cool bond yields The most-traded 10-year bond yield was down 9 bps at 8.79%. The yield on ten-year benchmark paper had last week risen to a 39-month high of 8.94% in anticipation that the government will not be able to meet its fiscal deficit target and may have to raise more funds from the market to bridge the gap.
According to the experts It will serve multiple purposes, including broadening the investor base, increasing demand for gilts and improving foreign fund flows. The debt flows have been strong in the current year, but portfolio investments have been weak because of the global risk aversion. Indian companies have borrowed nearly $21 billion overseas, but FIIs have invested only $2.2 billion in Indian equities and $8.7 billion in debt in the current fiscal. The government is now considering more measures to give a filip to capital flows that could include an increase in the $30 billion ceiling on overseas borrowing by companies. It has also put on fast track a proposal to allow individual foreign investors to invest directly into equities as part of the qualified foreign investor framework, or QFIF. SEBI panel moots single class for foreign investors
In the case FVCI, the panel felt that the present list of nine sectors would be considerably expanded. Alternately, it said, a negative list could be announced by the Centre so that the rest of the sectors were opened for VCF activity. Portfolio investments to be defined as investment by any single investor or investor group, which shall not exceed 10 per cent of the equity of an Indian company. Any investment beyond this threshold shall be considered as foreign direct investment (FDI). The committee has also dealt with migration of FPI into FDI, and situations where FDI investments fall below 10 per cent. Project Monitoring Group to Track Large Investment Projects set up
To attract more capital inflows, a panel appointed by SEBI on Rationalisation of Investment Routes and Monitoring of Foreign Portfolio Investments, headed by K. M. Chandrasekhar suggested a slew of measures including simplified registration process for foreign investors and classifying them into a single category.
It also recommended for merging of existing foreign institutional investors (FIIs), sub-accounts and qualified foreign investors (QFIs) into a new investor class, Foreign Portfolio Investor (FPI).
The committee also suggested that the aggregate investment limit for FPIs should be 24 per cent, being the present default aggregate limit for FIIs, which could be raised by the company up to the sectoral cap.
The committee also recommended that prior direct registration of FIIs and sub-accounts with SEBI should be done away with. Instead, FPIs should be able to register themselves with and transact through the designated depository participants (DDPs). It also called for simplified know your customer (KYC) norms to make it more customer-friendly for foreign investors.
The committee further stated that "in view of the special nature of the investments" from nonresident Indians (NRIs) and foreign venture capital investors (FVCIs), it was desirable to continue with these two classes for the present: NRIs to continue to have individual investment limit of 5 per cent and aggregate investment limit of 10 per cent.
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The Prime Minister Manmohan Singh has set up a project monitoring group to track large investment projects, aiming to fast-track approvals for stalled projects and boost investor's confidence. The government has already identified nearly 40 such projects, as part of this Rs. 7 lakh crore investment circle, and all the hurdles in shape of approvals and clearances would be completed by next month to kick start the process to give a big boost to infrastructure projects. Cabinet Secretariat has also prepared an 'Online CCI Projects Tracking System' portal for tracking projects of over Rs 1000 crore. Cabinet Committee on Investments is already looking into various big investment projects. Collaboration of different ministries Finance Ministry has compiled a list of about 215 such projects, where the banks have already funded more than Rs. 7 lakh crore. The time and cost overruns being faced by these projects has also been documented, as well as the action required to remove the implementation bottlenecks. Commerce Ministry has done a compilation of projects in the manufacturing sector, which are stalled due to various inter-agency bottlenecks. It has also emphasized the need to sensitize the State Governments in order to elicit their cooperation. Ministry of Environment & Forests has an online portal where the status of all projects which have been submitted for clearances with the Ministry, could be tracked. Further the pendency of projects for various Environment and Forest clearances has now been significantly reduced, and the process to accord such clearances has been further streamlined.
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Cabinet Secretariat has also prepared an 'Online CCI Projects Tracking System' portal for tracking projects of over Rs 1000 crore. Cabinet Committee on Investments is already looking into various big investment projects Govt bans sale of painkiller
The government has banned the sale of widelyused pain-relieving medicine, dextropropoxyphene, in a move that is expected to impact pharma companies' bottom lines. The drug was under the government scanner for the last couple of years, with its sale already banned in the US, UK and other countries earlier. Wockhardt markets dextropropoxyphene as Proxyvon.
Dextyropropoxyphene, a 40-year-old drug, is an opioid analgesic, and was being misused by addicts. The sales of the drug showed a huge spurt in the north-east, pointing to the possibility of it being smuggled out of the country. The manufacture, sale and distribution of the widely used painkiller were suspended under section 26A of the Drugs and Cosmetic Act, 1940. After a scrutiny of the drug, the US FDA decided to withdraw the drug from the market in 2010, while the European Medicine Agency banned its sale in June 2009 since its risk of fatal overdose was greater than its benefit, industry experts pointed out.
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INDIA AND THE WORLD

UK and India to work together on EvidenceInformed Healthcare Policy and Practice India and UK have agreed to form a framework for strategic and technical cooperation on evidence informed healthcare policy and practice. The two sides signed a MoU which follows an overarching health MoU between UK and India at the World Health Assembly, Geneva. During the meet India has offered to help in revival of 300 apparel factories in Myanmar along with US$ 5 million Line of Credit for revival of these factories. The South India Textile Research Association (SITRA) will provide technical assistance in formulation of revival plans for these factories. Private Sector companies will also play a big role in revival and building joint ventures with these closed apparel factories. India will also cooperate with Myanmar in formulating a common compliance code for standards and also the best practices in the factories. The Minister proposed to the Myanmar President a Common Compliance Code - DISHA MYANMAR with technical assistance from AEPC - to enhance compliance standards in Myanmar for exports to developed countries. Sponsored by Ministry of Textiles, and helmed by AEPC DISHA is an initiative to driving industry towards sustainable human capital advancement. DISHA attempts to educate apparel exporting members on a code of ethics that covers all critical social and environmental concerns like child labour, health and industrial safety, etc. For capacity building in Myanmar textiles sector, India has offered 2 scholarships for 2 slots under National Institute of Design (NID) and 250 scholarships for textile workers under Integrated Skill Development Scheme. Scholarships have been offered in National Institute of Fashion Technology and Institute of Foreign Trade also. India will also set up India-Myanmar Apparel Sector JVs in Thilawa SEZ in collaboration with other international brands. India will also set up a textiles trade show - Textiles Expo in Yangon for traditional textiles with Handloom Export Promotion Council (HEPC) as lead council. Enterprise India Show in Yangon as an annual event. Further India has also offered US$ 150 million of credit for project exports for establishing a SEZ at Sittwe in Myanmar Buyer's Credit Scheme under National Export Insurance Account (NEIA). The offer assumes that Myanmar Government will give a suitable land for the purpose.
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The agreement aims to (1) bring modern health technology to people by encouraging innovations related to diagnostics, treatment methods and prevention; (2) translate the innovations into products/ processes by facilitating evaluation in synergy with other departments of MoHFW as well as other science departments and, 3) introduce these innovations into public health service through health systems research. The MoU creates provisions for exchange of institutional expertise and experience concerning, clinical practice guidelines pathways and quality standards, application of health technology assessment, and implementation of the decisions of the assessment into clinical policy and practise.
To fulfill its objectives and its mandate, it delineates activities such as collaborative projects between UK and Indian scientists, strengthening of existing institutions responsible for turning evidence to policy, setting-up of technical pilots to develop technical and institutional capacities, engagement with the health service providers as a key stakeholder, and joint awareness raising and policy advocacy through global donors. The next step would be the setting-up of a Joint Steering Committee in order to translate the commitments of the MoU to a real, mutuallybeneficial partnership, and to steer the expertise and enthusiasm of the two countries to create better quality healthcare for their billions of people. India and Myanmar meet
Anand Sharma and President U Thein Sein met in Nay Pyi Taw. Both the ministers discussed issues related to SME sector, economic cooperation, trade, energy, agriculture and telecommunication.
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Talking about cooperation in banking sector Shri Sharma conveyes India's appreciation for the Myanmar Government's approval to allow Indian Banks like United Bank of India to set a representative office in Myanmar. He expressed the hope that the two public sector banks viz., Bank of India and State Bank of India, who have also expressed interest, would also be permitted to operate in Myanmar. Shri Sharma stressed the need for permission to open full-fledged banking services. Also, proposed for setting up a joint venture stateowned bank. The two leaders also discussed cooperation in Energy sector. Shri Sharma expressed satisfaction on the progress of cooperation in this field as the renovation of the Thanlyin Refinery and the ongoing upgradation of the Thanbayakan Petrochemical Complex proceeded smoothly. The renovation of the Thanlyin Refinery was financed by US$ 20 million LoC, signed in 2005-06. The upgradation of Thanbayakan Petrochemical Complex is being financed by another US$20 million LoC signed in 2008-09. Indian companies are very active in oil and gas field in Myanmar. OVL and GAIL have announced US$ 1.33 billion investment in China-Myanmar gas pipeline project. Phase I of 200 km KyaukphyuKunming Oil & Gas pipeline worth US$ 475 million for construction of two parallel pipelines for gas and oil has been awarded to Punj Lloyd. PSC-1 onshore block in Central Myanmar worth US$ 73 million has been awarded to Jubilant Energy India on the basis of a global tender in 2011. The two leaders also discussed revival of the discussions on the gas pipeline connection between India and Myanmar through Bangladesh.
India is involved in improving road connectivity with ASEAN country which will create new opportunities for India's north eastern region. India has extended assistance for road development projects which include upgradation of the TamuKalewa-Kalemyo (TKK) road (about 160 kms); Kaladan Multi-Modal Transit Transport Project which envisages development of road and inland waterways from Sittwe port in Myanmar to Mizoram; and some segments of Trilateral Highway Project (about 1360 kms) connecting Moreh (Manipur, India) to Mae Sot (Thailand) through Myanmar. These will prove of great benefit to India's land locked North East. BRO has completed the resurfacing and maintenance work of 132 kms Tamu-KyigoneKalemyo stretch of the road and handed over to Myanmar. The remaining 11 kms of the 28 km section on the Kyigone- Kalewa stretch is also to be handed over to Myanmar after completion. Indian assistance towards repair/upgradation of the 71 bridges on the Tamu-Kalewa road and the upgradation of the Kalewa-Yargyi road section of the Trilateral Highway was announced during the visit of the Prime Minister to Myanmar in May 2012. The work on the Sittwe Port of the Kaladan Project, which began in December 2010 is expected to be completed by mid 2013. The Detailed Engineering Report (DER) for the road component is expected to be finalized in 2013. A new Air Service agreement to facilitate direct air connectivity was signed during the visit of the Prime Minister in May 2012. Currently Air India is operating 3 services per week on the Kolkata Yangon Sector.
SCIENCE & TECHNOLOGY

New pill to battle 'Delhi Belly' developed Scientists have developed a pill to prevent Delhi belly - a condition that causes cramps, vomiting and diarrhoea due to intake of contaminated food and water - in those travelling to India and other tropical countries. Delhi belly, or traveller's tummy, affects an estimated 10 million people each year and up to half of all international travellers suffer from it in some form. galaxy outside our own. Many consider Andromeda to be a sister galaxy to the Milky Way. The two ultimately will collide, several billion years from now. The black hole candidates belong to the stellar mass category, meaning they formed in the death throes of very massive stars and typically have masses five to 10 times that of our sun. Astronomers can detect these otherwise invisible objects as material is pulled from a companion star and heated up to produce radiation before it disappears into the black hole. The first step in identifying these black holes was to make sure they were stellar mass systems in the Andromeda Galaxy itself, rather than supermassive black holes at the hearts of more distant galaxies. To do this, the researchers used a new technique that draws on information about the brightness and variability of the X-ray sources in the Chandra data. In short, the stellar mass systems change much more quickly than the supermassive black holes. To classify those Andromeda systems as black holes, astronomers observed that these X-ray sources had special characteristics: that is, they were brighter than a certain high level of X-rays and also had a particular X-ray color. Sources containing neutron stars, the dense cores of dead stars that would be the alternate explanation for these observations, do not show both of these features simultaneously. But sources containing black holes do. The European Space Agency's XMM-Newton X-ray observatory added crucial support for this work by providing X-ray spectra, the distribution of X-rays with energy, for some of the black hole candidates. The spectra are important information that helps determine the nature of these objects. The research group previously identified nine black hole candidates within the region covered by the Chandra data, and the present results increase the total to 35. Eight of these are associated with globular clusters, the ancient concentrations of stars distributed in a spherical pattern about the center of the galaxy. This also differentiates Andromeda
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The new pill targets one of the main causes of the disease - enterotoxigenic Escherichia coli. It will also offer protection against another travellers' disease - typhoid. Professor Nigel Slater, who has led the work at the University of Cambridge's department of chemical engineering and biotechnology, said they were planning to start clinical trials of the vaccine later this year.
The scientists have found that they can introduce a small segment of DNA into harmless Salmonella bacteria so they look like enterotoxigenic E coli to the immune system. These bacteria can be grown in vessels to form a kind of slurry that can then be spray dried with hot gas to turn it into a powder. This leaves the bacteria in suspended animation until it is dehydrated in the stomach after being swallowed by the patient. To help protect the bacteria from the destructive acid and bile in the digestive system, it is mixed with a powdered resin similar to polystyrene and placed inside a gelatin pill capsule. The resin absorbs the bile, allowing the bacteria to be rehydrated so it can then pass through the lining of the small intestine and induce an immune response. NASA's Chandra detects black hole
Using data from NASA's Chandra X-ray Observatory, astronomers have discovered an unprecedented bonanza of black holes in the Andromeda Galaxy, one of the nearest galaxies to the Milky Way. Using more than 150 Chandra observations, spread over 13 years, researchers identified 26 black hole candidates, the largest number to date, in a
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Virus from dogs turning tigers into maneaters
Britain's Wildlife Vets International (WVI) plans to study whether a virus common among Indian dogs was infecting tigers of the Sundarbans and turning them into maneaters. The study would be part of WVI's first comprehensive global tiger disease surveillance programme, which would start with the dwindling Sumatran tiger population. The WVI is concerned that big cats were facing a new threat in form of the canine distemper virus (CDV), an emerging pathogen threatening tigers worldwide, including those in the Sundarbans. The virus makes big cats less afraid of humans and increases the chance of human-tiger conflict, leaving them vulnerable to poaching. A large number of feral dogs and cats live in and around villages bordering the Sundarbans. The virus is common among them and tigers straying into villages and preying on them are at risk. The WVI wants to test whether CDV is causing healthy tigers in Sundarbans to attack humans and walk unperturbed into villages. At least three Amur (Siberian) tigers, the world's largest big cat, have died in recent years after contracting canine distemper. Studies of both the endangered Amur tiger and the critically endangered Amur leopard, only 40 of which are left in the wild, confirm that many more have been
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from the Milky Way as astronomers have yet to find a similar black hole in one of the Milky Way's globular clusters. Seven of these black hole candidates are within 1,000 light-years of the Andromeda Galaxy's center. That is more than the number of black hole candidates with similar properties located near the center of our own galaxy. This is not a surprise to astronomers because the bulge of stars in the middle of Andromeda is bigger, allowing more black holes to form. This new work confirms predictions made earlier in the Chandra mission about the properties of X-ray sources near the center of M31. Earlier research by Rasmus Voss and Marat Gilfanov of the Max Planck Institute for Astrophysics in Garching, Germany, used Chandra to show there was an unusually large number of X-ray source near the center of M31. They predicted most of these extra X-ray sources would contain black holes that had encountered and captured low mass stars. This new detection of seven black hole candidates close to the center of M31 gives strong support to these claims.
exposed to the virus. Russia has seen examples of abnormal behavior, where tigers have walked into villages apparently unfazed by their surroundings. CDV has had a serious impact on other large wild carnivores in recent years. In Tanzania's Serengeti National Park, a CDV epidemic in 1994 caused the death of approximately 30% of the lion population, as well as of numerous African wild dogs, leopards, hyaenas and bat-eared foxes. This was the first time CDV was detected in wild lions. Experts say there was an urgent need to assess the disease risks to tigers in the Sundarbans and to implement a prevention programme. Recently, the Bangladesh forest department identified this disease threat and said it requires tackling in the immediate future. Fund-raising has started for WVI's programme. Google launches Internet-beaming balloons
Google has released techno-savvy balloons from a frozen field in the heart of New Zealand's South Island above Lake Tekapo. Still in their experimental stage, the balloons were the first of thousands that Google's leaders eventually hope to launch 20 km into the stratosphere in order to bridge the gaping digital divide between the world's 4.8 billion unwired people and their 2.2 billion plugged-in counterparts. If successful, the technology might allow countries to leapfrog the expense of laying fibre cable, dramatically increasing Internet usage in places such as Africa and Southeast Asia. Google's balloons fly free and out of eyesight, scavenging power from card table-sized solar panels that dangle below and gather enough charge in four hours to power them for a day as the balloons sail around the globe on the prevailing winds. Far below, ground stations with Internet capabilities about 100 km apart bounce signals up to the balloons. The signals would hop forward, from one balloon to the next, along a backbone of up to five balloons. Each balloon would provide Internet service for an area twice the size of New York City, about 1,250 square km, and terrain is not a challenge. They could stream Internet into Afghanistan's steep and winding Khyber Pass or Yaounde, the capital of Cameroon, a country where the World Bank estimates four out of every 100 people are online. The signals travel in the unlicensed spectrum, which means Google doesn't have to go through the onerous regulatory processes required for Internet providers using wireless communications networks or satellites.
2 - MARKERS
Government clears way for 2017 FIFA U-17 World Cup The Union Cabinet gave its approval to the proposal for submitting guarantees sought by the All India Football Federation (AIFF) from the Government of India for their bid to host the Federation Internationale de Football Association (FIFA) Under 17 World Cup Football Tournament in 2017 in India. The FIFA Under 17 World Cup is a prestigious event and would be held in India for the first time, if the AIFF succeeds in its bid. The AIFF have proposed holding of matches in five States, namely Delhi, West Bengal, Maharashtra, Karnataka and one among the States of Assam, Goa and Kerala. While the expenditure for upgradation of stadia (Rs.95 crore) will be provided as additional central assistance to the State Governments, a sum of Rs. 25 crore is kept as a contingency to ensure smooth conduct of the tournament. AIFF and FIFA have agreed to bear the entire expenditure of hosting the tournament. The amounts required are to be raised through sponsorships and other commercial agreements. annual celebration has a different theme. This year's slogan, "Don't let our future dry up" calls for everyone to take action to promote preparedness and resilience to water scarcity, desertification and drought. The goal of the 2013 World Day to Combat Desertification is to create awareness about the risks of drought and water scarcity in the drylands and beyond, calling attention to the importance of sustaining healthy soils as part of post Rio+20 agenda, as well as the post-2015 sustainable development agenda. In 1994, the United Nations General Assembly declared June 17 the World Day to Combat Desertification and Drought to promote public awareness of the issue, and the implementation of the United Nations Convention to Combat Desertification (UNCCD) in those countries experiencing serious drought and/or desertification, particularly in Africa. India's defence system to have shield from missiles of 5,000 km
The proposed Under-17 World Cup would encourage more youngsters to participate in sports and also help develop the sport of football in the country. It will also promote tourism in the country. The event also has a lot of importance from the point of view of playing technique, training, coaching and competition exposure, etc., especially at under-17 level, and thus would be good for the future of football in India. Fifty years of Women in Space celebrated
On June 16, 1963, Valentina Tereshkova of USSR became the first woman to fly into space. She remains the only woman ever to have made a solo space flight. During her three-day mission, Tereshkova circled Earth 48 times. World Day to Combat Desertification and Drought observed
The World Day to Combat Desertification and Drought purpose is to highlight ways to prevent desertification and recover from drought. Each
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Hasan Rowhani
India's missile defence system is set to get a big boost as it is developing capability to intercept enemy missiles fired from a distance of up to 5,000km, in effect tackling any possible threat from countries such as China. The capability is being developed by DRDO as part of the Ballistic Missile Defence (BMD) shield, whose first phase is ready for deployment possibly in Delhi. The first phase BMD shield can tackle enemy missiles fired at from ranges up to 2,000 km. The DRDO will enhance the capability of BMD in phase-II to deal with threat from missiles of range of up to 5,000 km.
He is an Iranian politician, Mujtahid, lawyer, academic and diplomat, who is currently the president-elect of Iran. He has been a member of the Assembly of Experts since 1999, member of the Expediency Council since 1991,member of the Supreme National Security Council since 1989,and head of the Center for Strategic Research since 1992. He is scheduled to take office on 3 August 2013.
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John Ashe elected UN General Assembly President
The United Nations General Assembly has elected Ambassador John W Ashe as President of its upcoming 68th session. He is Antigua and Barbuda's Permanent Representative to the United Nations. He is Antigua and Barbuda's Ambassador to the World Trade Organization (WTO) and has ministerial responsibility for WTO and sustainable development matters. New cornea layer named after Indian
previously believed the cornea to be composed of five layers - the corneal epithelium, Bowman's layer, the corneal stroma, Descemet's membrane and the corneal endothelium. The new layer is located between the corneal stroma and Descemet's membrane. Anish Kapoor
The human cornea is the clear protective lens through which light enters the eye. Scientists
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Scientists have found a previously undetected layer in the cornea and named it after the Indian researcher who made the discovery. The findings, by researchers from the University of Nottingham in UK, could help surgeons to improve outcomes for patients undergoing corneal grafts and transplants. The new layer has been dubbed the Dua's layer after Professor Harminder Dua who discovered it.
Indian-origin sculptor Anish Kapoor has been honoured with knighthood, one of the highest honours in Britain, by Queen Elizabeth II in her birthday honours list 2013 for services to Visual Arts. Regarded as one of the most influential and pioneering sculptors of his generation, 59-year-old Kapoor is famous for his monumental public sculptures and his enigmatic sculptural forms that have been exhibited all over the world. He became the first living British artist of Indian origin to take over the Royal Academy in 2009. A Turner Prize winner, Kapoor has twice won the Premio Duemilia at the Venice Biennale and has since received many other international honours.
EDITORIALS
Rule of law and Corporate India Corporate India has come up with lame excuses for not complying with the law on minimum public holding. It is fashionable these days, especially for corporate India, to carp endlessly about government failure and bad governance. In this general pessimistic environment it was very refreshing to read recently about the remarkable strides that India has made in improving securities markets regulation, including the creation of world-class institutions, modern laws and their enforcement. The obverse of this is a law abiding, progressive and modern corporate sector which is able to see beyond the next hour's profits. Corporate India has not lived up to this standard in at least one sphere, namely, the maintenance of minimum public holding for keeping a company listed on the stock exchange. Ensuring liquidity It is a no-brainer that a large public float of securities is necessary for a well-functioning market, so essential for liquidity and discovery of fair prices. An illiquid market suffers from two main problems. Investors suffer large transactions costs when entering and exiting, and there is a heightened danger of market abuse. Market abuse is the falsification of information about prices, spreads, turnover, etc. Innocent participants get sucked into making wrong decisions about investment when they see prices, spreads, turnover which are not the result of normal market forces, but are caused by a deceptive scheme. The possibility of market abuse, in turn, deters market participation and exacerbates illiquidity. This sets up a vicious cycle where fear causes illiquidity, illiquidity engenders market abuse, and the presence of market abuse causes fear. Securities market regulation therefore focuses on ensuring liquidity. A liquid market benefits the investor. But it is equally in the interest of the listed company. Indian authorities have been trying to ensure reasonable public float of listed securities by prescribing the minimum public offer at the time of listing and minimum public holding for continued listing.
The Government, through Rules in 1957, prescribed the minimum public offer of 49 per cent for listing. The Securities and Exchange Board of India (SEBI), through listing agreement in 2001, prescribed minimum public holding at the same level for continued listing. However, based on corporate demands and lobbying, these general prescriptions have been relaxed myriad times, including exceptions for categories of corporates and extension of time limits. In any case, no enforcement action was initiated against any defaulter over the last half century, thanks to the clout of corporate India, including PSUs. Prescription of minimum public offer or public holding was notified only after widespread public consultations. For example, there was extensive consultation in 1971-72 which led to prescription of minimum public offer of 60 per cent in 1972 and also during 2008-09 which led to prescription of minimum public holding of 25 per cent in 2010. Though corporate India was being persuaded since 2001 to maintain minimum public holding, the Rules in 2010 set a clear and firm timeline of three years. SEBI's spirited efforts SEBI publicly expressed several times that it would adhere to the timeline, while providing innovative options to facilitate promoters and companies to achieve the prescribed minimum public holding. These included the institutional placement programme, rights issue, bonus issue, offer for sale through stock exchanges, to name a few. In August 2012, it encouraged companies to come up with other newer options as they find comfortable to achieve the purpose. It also engaged in one-to-one discussion and correspondence with the many defaulting companies. SEBI probably left no stone unturned to achieve minimum public holding. Clearly, this was not a regulator mindlessly enforcing the law but a public spirited agency actively assisting the regulated entities to comply with the law.
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Continuous public holding is a requirement under the Rules as well as the statutory listing agreement. Non-compliance of these is a cognisable offence and invites action such as suspension/delisting of securities of the company from the exchange, imprisonment and a fine. These are in addition to directions that SEBI can issue, including forced sale of excess holding by promoters, debarring them from dealing in securities or from holding any responsible position in listed companies. These are quite draconian measures to be imposed if the non-compliance is established. Admittedly, it is not very difficult to establish noncompliance of minimum public offer/holding. But for obvious reasons, SEBI did not initiate the process to establish the same except recently in the order dated June 4, 2013. Lame excuses How did corporate India respond? Various lame excuses were offered for not complying with the law. One, there were no takers for their shares. A company operating in the securities market knows the basic principle of the market - that it always clears if the price is right. There was a liquid market for shares of Satyam immediately after it became known that the company's books were cooked. Second, the market was subdued. It did not remain subdued for three years, or for that matter since 2001 when minimum holding was prescribed for the first time. Third, the options available did not suit them. This is not true as SEBI volunteered to consider any other option that a company may suggest. The excuse which was not advanced explicitly was that the authorities had not taken such non-compliance seriously so far. As a result we have 100-plus listed companies (other than PSUs) which have not complied with the law. This is not the only instance of non-compliance of law by corporate India. Though no firm data is available, thousands of companies listed on exchanges do not comply with the listing agreement, particularly the provisions relating to corporate governance. While the listing agreement is becoming longer, the level of compliance is declining. It is not surprising that the size of investor population as well as the amount raised through securities market in real terms has not increased over the last two decades despite a big increase in population and our dream growth rates.
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In addition to good governance from the state, India equally needs an ethical and law abiding corporate sector if inclusive growth is to be achieved. The minimum public holding example is a relatively trivial one and one can see examples of non-adherence to the rule of law dharma by corporate India in the telecom sector, coal sector and mining. The time has come to focus attention on this. Source: Business Line Discomforts with China
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Its military adventurism and economic uncertainty open opportunities for India The Chinese incursion into our territory was disturbing. The world is troubled by the nationalism and authoritarianism of China. Yet, going by feedback from senior executives in American and Japanese corporations, it offers great opportunities for India. China's rise as an economic superpower has been a source of concern for the West and for neighbours like India. The accusation levelled against China is that it has not played fair on the economic battlefield. Through a combination of artificially undervalued exchange rates, subsidies to state enterprises routed through its statecontrolled banking system, rigid wage controls and dubious trade practices, it has decimated one industry after another in competing economies. Things have changed over the last three years. Wages have increased, international pressure has forced it to ease its draconian control on the exchange rate. The possibility of its financial system imploding has forced it to reconsider its usual policy of using massive doses of credit to ward off any downturns in its business cycle. Rising political and social tensions, underpinned by growing inequality, have forced China's politicians to focus more on domestic markets and buttressing domestic consumption, instead of devoting all their attention to exports. While this transition in its basic economic model is incomplete, it has slowed growth to 7-8 per cent for a while to come. With its economic momentum slowing, Chinese politicians appear to be repackaging the Chinese dream through a mix of strident nationalism and regional authoritarianism based on military might. It seems to be a throwback to the days of imperial China. The fracas with Japan over the disputed Senkaku/Diaoyu islands in the East China Sea is
an example of China's new military adventurism. The recent military incursion into Indian territory is yet another. For India, this presents a massive economic and business opportunity. China has been among the biggest recipients of global FDI. In 2012 alone, it received $112 billion. This could change in future. The world, particularly the US and Japan, seem deeply troubled by China's rising nationalism and its aspirations to hegemony in the Asia-Pacific region. Japanese and American commercial interests are re-evaluating China, appraising the impact of concentration, uncertainty and geopolitics. They are, in fact, looking at alternatives and India is a major destination under consideration. We need to get our act together as this is a big opportunity to get FDI to meet our capital and employment needs. We must make the Japanese comfortable and the Americans enthusiastic.
allocations to tax policy. All this needs to be addressed before we can even aspire to benefit from FDI flows switching away from China. Apart from FDI, there are sector-specific opportunities from the growing discomfort with China. Iconic US concerns such as Apple, The New York Times and defence giant Lockheed Martin have been infiltrated by Chinese hackers. There are also unconfirmed reports that most important federal institutions, including the Pentagon, have fallen prey to Chinese cyber-attacks. Both the American political establishment and American business would be interested in building a cyber shield to protect themselves, much like the way that the construction of a missile shield became the cornerstone of American defence policy during the Cold War. India, with its IT expertise, could be a key partner in building this cyber-defence mechanism. China's growing military adventurism perhaps warrants a shift in our defence strategy as well. Through a combination of economic and military support, it has aligned itself with India's neighbours - be it Pakistan, Myanmar or Sri Lanka - leaving us somewhat isolated. India's strategic response has been to move closer to the US and leverage American influence in the region. It is possible to argue we should go a step further to counter China's hegemony. One option is to align ourselves more closely with Nato, perhaps even consider formally joining it. This would strengthen our military status vis-a-vis both China and Pakistan. There have incidentally been overtures from Nato to forge a closer relationship with India. In September 2011, India was invited to join the ballistic missile defence programme as a partner. The US Nato ambassador, Ivo Daalder, has even suggested that India should turn away from its non-aligned role and join Nato. India has reciprocated partially by supporting Nato's stance on Syria and Iran. Much more can be done on this front. We must also fortify our economic ramparts with China. One thing that stares us in the face is the imbalance in trade. In 2011-12, we sold goods worth $18 billion to China and bought $57.5 billion, which meant a whopping trade deficit of $40 billion, up from $16.2 billion in 2007-08. There are a number of ways in which our trade relationship with China could be hurting our economy. At one end of the spectrum, imports of cheap capital goods, particularly power equipment (currently without duty) threatens the survival of our domestic capital
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While China's shifting political and foreign policy stances (and associated geopolitical risks) affect its viability as an investment destination, there are economic considerations like rising wages and an appreciating currency that justify a shift away from China. Recent surveys show average industrial wages in China, at $300 a month, are the highest in the region. Despite inflation and the shortage of skilled workers, India's average organised-sector wage level, at about $270 a month, is still considerably behind China's. Besides, unlike the Chinese yuan, which is likely to appreciate further, the Indian rupee could see a period of sustained depreciation, making the manufacturing sector that much more competitive.
Capital scours the world and India does have competition. Indonesia's average industrial wage is lower than $200 a month, Vietnam's is even lower. However, two things work for India. First, it has a much larger labour pool and this is likely to put a lid on long-term wage inflation. Second, the large and young labour pool offers huge market opportunities that our smaller Asian peers lack. China's regional ambitions alone cannot pull FDI into India. The investment environment has to improve and this involves not just improvement in infrastructure but also a better regulatory and policy environment. We cannot afford to forget that while China ranks 91 in the World Bank's much quoted "Ease of doing business" survey, India ranks 132. Besides, there has been growing concern among potential investors about the instability of our policy regime in areas ranging from telecom licence
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goods companies. A similar situation has arisen with iron, steel and organic chemicals, in which Indian manufacturers have historically had a comparative advantage. At the other end of the spectrum, imports of smaller consumer items (plastics, toys, crackers, food) might not constitute the bulk of imports from China, but at about $5 billion they are significant in absolute terms. These directly compete with our SME sector, which is the biggest employer in manufacturing. These imports constitute a significant risk for our labour markets, with concomitant risks for political and social stability. It is time we built stronger safeguards against the flood of imports from China. One option is to raise import tariffs on some items, which in most cases are way below the bindings we have committed to at the WTO. The Arun Maira Committee has recommended increasing the import duty on power equipment to 14 per cent. Second, we must be more vigilant about unfair trade practices such as dumping and use the extant forums of redressal to fight the flow of subsidised exports. An alternative is increased exports to China. China's rising military ambitions along with its aspirations for economic hegemony constitute both risks and opportunities for India. To both guard against these risks and exploit the opportunities, a number of changes are required in our economic and strategic policy. We have to reconsider our existing positions, such as non-alignment or freetrade, to ensure this. Source: Indian Express
Four points Scenario 1: A new Afghan president is chosen in 2014 through a relatively free and fair election process. The Afghan security forces, with continuing assistance from the residual U.S. forces on Afghan soil, thwart the Taliban insurgency. Violence would continue, but would not escalate enough to destabilise the government. This optimal scenario would mean business as usual for India. However, to ensure this, New Delhi would need to work with the present Afghan government and other political groups to ensure free and fair elections. It will also have to play a more proactive role in building the capabilities of the Afghan security sector. Scenario 2: The presidential elections scheduled for April 2014 could either be delayed indefinitely or marred by widespread malpractices and fraud, thereby undermining the role and power of the new Afghan president. Alternately, Hamid Karzai could extend his term by amending the constitution and convening a Loya Jirgah, or nominate a successor to assume the presidency, leading the Opposition political groups as well as the influential warlords and power brokers to call for regime change. Afghan society could fracture along ethnic and tribal lines with regional powers supporting their proxies. With Afghanistan divided into various spheres of influence, India would be constrained to choose sides not just among the present regime and other political groups, but also among the warlords and regional commanders. This would be a case of high risk involvement with diminishing returns, with little guarantee of securing India's interest in the long term. Scenario 3: Following a negotiated political settlement, the Taliban (Quetta Shura Taliban) could return to Afghanistan under a power-sharing arrangement, allowing it to administer key provinces as well as retaining significant influence in the national government. This would gradually lead to instability and fragmentation, with antiTaliban political forces, women and civil society groups opposing such deals, leading the country to a 1990s-type civil war situation. In case of the precipitous withdrawal of international forces, the danger of a complete Taliban takeover is also highly probable. This is possibly the worst case scenario. India will have little option but to wind-down its operations, strengthen its homeland security measures and increase vigilance along the IndiaPakistan border.
A guide to Afghanistan in four scenarios
In the run-up to the 2014 election and after, the state of the country gives India many opportunities to use its political, military and economic tools for long-term engagement
New Delhi will be confronted by a host of rapidly changing scenarios in Afghanistan as the country heads for transition in the security and political sectors in 2014. The interplay between different actors jockeying for power could either allow India to retain its present level of engagement, provide opportunities to expand its influence or bring an abrupt end to its presence in that country. If it wishes to remain relevant and engaged in playing a key role in the long-term stabilisation of Afghanistan, India will have to recalibrate its strategy to deal with a range of options emerging from the four most probable scenarios.
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In the months leading to 2014, India will have to utilise a range of diplomatic, military, and economic tools and set clear policy markers to sustain the democratic order and deny the space for the return of the extremists. The near to medium-term projects could include training of the Afghan National Security Forces (ANSF), particularly its officer corps, the police, paramilitary, and the air force, and also helping to build the justice sector. In the long term, security sector reform and building sound civil-military relations would remain critical in preventing the disintegration or loss of civil control of the army. Development the key The transition in the political sector is more challenging. There is an immediate need for India to push for a national dialogue in Afghanistan which addresses the concerns of the impending election and reconciliation process. In addition to broad based engagement with the other political groups, New Delhi needs to work on strengthening the electoral reform process.
On the economic sector, in the near and medium term, India could help establish small and medium enterprises, alternate livelihood programmes and revive the Afghan indigenous economic base. India's aid and assistance programmes involving high-visibility infrastructure projects have created national assets for Afghanistan, shaping India's image and generating a measure of gratitude. However, an enduring Indian influence would remain linked to New Delhi designing and helping implement development programmes to address poverty, illiteracy and systemic administrative dysfunction. Afghanistan stands at a critical crossroads in its nation building exercise. It could either emerge
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Scenario 4: A political dispensation backed by Pakistan or headed by a pro-Pakistan personality like Muhammad Umar Daudzai, the current Afghan Ambassador to Islamabad, or a protg of Gulbuddin Hekmatyar from the Hezb-e-Islami, assumes power. This could also lead to a surge of influence and area domination by the Peshawar Shura of the Taliban in the South and East or the ceding of territory (Paktia, Paktika, Khost) to the Haqqani network. New Delhi will have to recalibrate its mode of engagement by extending support and building linkages among tribal networks, refugees, and nomadic groups in the bordering areas of Afghanistan-Pakistan and build on the Kabul Shura as an effective counterforce.
as a sovereign, stable and prosperous country or once again disintegrate into chaos. The stakes are high and time is running out. New Delhi needs to act on a range of available options if it wants to avoid a "stalemate" or even the loss of decade-long investment and "goodwill." Afghanistan would be the "test case" of New Delhi's major power aspirations in the region. Source: The Hindu RBI throws some light on new banking licences
The saga of bank licensing in India provides important insights into the policymaking process and its maturity over the decades since liberalisation. It is also interesting because in many ways, it is uniquely Indian " open, transparent, long-drawn and noisy. Given the importance of the sector as custodian of people's savings, one hopes that this achieves the regulatory goal of licensing the 'fit'est candidate and there is no open, transparent, long-drawn and noisy affair to follow by way of allegations and investigations, something that seems quite the trend. Let's try and extrapolate a few of the key messages here, with the benefit of the clarity provided by the RBI in its 165-page document; each question being quoted and bucketed broadly on themes of ownership, operating model, business transition and others. The answers are repetitive, but intelligently so. It's an assertion of the authority of the central bank to formulate policies and guidelines and not deviate from the principles post event, the essential function of a clarificatory note being to clarify and not to introduce policy change. Within this constraint, the extension of transition timeline to 18 months and parking the issue of interregulatory co-ordination (by allowing entities regulated by other regulators to stay outside of the NOFHC in case the same is not approved by concerned regulators) provides a breather. In the same vein, clarity on foreign investments and on 'resident owned and controlled' is a meaningful one. This could hitherto only be deduced from the stance taken on 'ownership and control' of banks with greater than 50% foreign equity when DIPP issued the press notes in 2009, specifying calculation of direct and indirect foreign investment in Indian companies. The clarification paper, through lucid illustrations, makes this amply clear and suggests harmonisation of the position with DIPP and FDI policy.
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Having said that, the difficult issue that remains is whether the guidelines themselves are fair or pro-competition, especially as regards providing a levelplaying field to new entrants as compared to the established ones; often falling short of stating the regulatory intent or goalpost specifically to address anxiety on the issue of levelplaying field. Hopefully, the promised paper on banking structure in India will provide participants a much clearer view on this subject. To take the example of just one such issue: once the July 1 deadline for accepting applications lapses, when will be the next opportunity to apply? Will the rules laid out now will remain the same or be completely different? Hypothetically, if the banking structure paper was to propose that within the same rules, RBI would open the licensing window again within the next three to five years, banking aspirants could make better decisions, building in the learning from new banks that will need to achieve profitability with front-loaded inclusion requirements. It would also give time to aspirants to align their businesses with the banking model, prepare their stakeholders and cause least disruption to their businesses or to the markets. One of the key messages coming across is the right to select the 'fit and proper' candidate. As every critical observer of democracy, most succinctly Tocqueville, has wondered, the idea of equality is a problematic one. The thought that positive selection is unfair or subjective and a scorecard-based 'completely objective' (if such a thing exists) approach must be contested by the belief that people in the empowered committee 'entrusted with responsibility to select' will exercise it judiciously in the interest of the weakest stakeholder. Very broadly, while there are hundreds of questions on structure and it is indeed complex, being untested and having many implications of cost, tax, valuation and governance; the real difficulty comes from the requirement to exit successful legacy lending businesses before starting the bank. If the banking business model supported the kind of assets these NBFCs have, existing banks would have had them on their books. Force-fitting this business on a bank balance sheet constraints the operating model, apart from driving up the starting costs by way of reserve requirements etc. Given that regulators have, since 2006-07, worked assiduously to create a regulatory framework
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around consolidated capital market exposure, intra group exposure and bank lending to NBFCs, the step seems too tough and likely to be problematic for stakeholders. However, the subtext is quite clear " it is not about adding a bank to your business, it is about 'becoming a bank' or 'banking conglomerate' and that changes your life more than you think. Source: Economic Times Bhutan shows the way to happiness
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King Jigme Singye Wangchuck coined the term, Gross National Happiness, based on a vision of economic development and social welfare that was premised on Buddhist philosophy. It remains universally applicable Disillusionment with life processes, dissatisfaction with the material conditions of one's existence and the banality of many inter-personal dealings is a common experience. This, almost universal situation, reinforces the quest for happiness and the exploration of options which could be conducive to happiness. This search is neither new nor unique. However, in an era where the buzzwords are 'development', 'growth', 'planning', 'investment', 'technology' and more, it would be natural to explore the relationship of 'happiness' to these variables. Bhutan's King Jigme Singye Wangchuck coined the term 'Gross National Happiness' in 1972. He brought this country into the modern age, based on a vision of Bhutan's economic development that was premised on Buddhist philosophy. The concept received momentum at the Centre of Bhutan Studies under the leadership of Karma Ura. He developed some instruments to measure people's well-being. GNH is rooted in the concept of people-centered holistic development. Materialism and spirituality were the twin issues that had to be addressed and that too in an integrated manner. Happiness was supposed to ride in on these two wheels. The attempt to root development, prosperity and welfare in the Buddhist concept of Dhamma underscores the need to link development with classical principles. Since Buddhism started as a reform movement in reaction to Hinduism, it was easy to see the more evolved Hindu concept of 'Dharma' in the Buddhist elaboration of 'Dhamma'. Dharma is not religion, as understood in the GrecoRoman tradition, but instead a list of doables and duties. Both concepts lend themselves easily to a developmental paradigm.
The Bhutanese contribution lies in having incorporated this into their planning framework. Moreover, they have made the GNH indicators not just tangible but also universal, without rooting them in religion. The GNH indicators serve as the guiding principles for Bhutan's national planning process. There are four building blocks of GNH promotion of sustainable development; preservation and promotion of cultural values; conservation of the natural environment; and establishment of good governance. It is this universality of the principle that needs to be understood and considered. It is almost as if it has nothing to do with Buddhism. Indeed, sustainable development, cultural integrity, environmental conservation and good governance are further defined into eight general contributors to happiness. These are physical, mental and spiritual health; time-balance; social and community vitality; cultural vitality; education; living standards; good governance; and ecological vitality. Mr Med Jones, who is best known for having predicted the financial crisis of 2007-2008, has proposed a second-generation GNH concept, treating happiness as a socio-economic development metric and measuring seven development areas. These include economic wellness, environmental wellness, physical wellness, mental wellness, workplace wellness, social wellness and political wellness. These seven matrices were incorporated into a global survey wherein on the one hand, GNH reflected a psychological state based on moral criteria while on the other hand, GNP reflected on the consumption of goods and services.
complacency that dominates budget discussions in Washington. Regarded as an urgent problem until recently, the federal deficit is now being placed on the back burner of American politics. The shift in thinking was triggered by the revised deficit forecasts recently published by the Congressional Budget Office (CBO), the independent technical agency responsible for advising Congress on budget issues. According to the CBO's report, the US fiscal deficit will decline from seven per cent of GDP in 2012 to four per cent in 2013. This reduction reflects the cuts in government spending on defence and non-defence programmes mandated by the budget "sequester" that took effect in March, as well as the rise in revenue caused by higher rates for income and payroll taxes since the end of 2012 More striking is the CBO's projection that the deficit will continue to decline rapidly, reaching just 2.1 per cent of GDP in 2015, before rising gradually to just 3.5 per cent of GDP in 2023, the end of the CBO's official forecast period. That path of deficits implies that the government debt-to-GDP ratio will remain at about the current level of 75 per cent for the next 10 years. Unfortunately, these headline-grabbing numbers are not likely to be borne out in reality; indeed, even the CBO does not believe that they represent what will occur. Instead, these official forecasts represent a "baseline" scenario that the CBO is required to present. The CBO's "baseline budget" assumes that all of the deficit-reducing features in current law will remain unchanged. These include, for example, an old legislative requirement that payments to physicians in the government's Medicare programme be reduced sharply in future years, a requirement that Congress has voted each year to "postpone". In order to provide better guidance, the CBO presents an "alternative fiscal scenario," in which such very unlikely features are removed from the forecast. The alternative forecast implies that the annual budget deficit at the end of 10 years will be back up to 4.7 per cent of GDP, with the debt-toGDP ratio at 83 per cent and rising. And those estimates are based on the optimistic assumption that the economy will have returned gradually to full employment with low inflation and moderate interest rates. Officials and others who favour stimulating growth through increased government spending ignore the CBO's more realistic alternative scenario. They buttress their argument that the deficit is not
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A concept such as GNH is bound to have challenges in quantitative measurement; yet, applied systems analysis methodology establishes that almost anything which is 'done' is measurable. Applied system analysis methodology has instruments which are capable of doing this as an act of approximation. There are other correlations possible. For example, low rates of infant mortality positively correlate with subjective expressions of well-being. The notion that subjective measures like well-being are more relevant than objective measures, is one of the building blocks of the GNH concept. Source: The Pioneer America's deficit complacency
The United States still faces a dangerous fiscal deficit, but one might not know it from the
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an immediate problem by pointing to very low interest rates on long-term government debt, with a two per cent yield on the 10-year Treasury bond and a negative real interest rate on Treasury inflation-protected bonds (TIPS). But such low rates do not reflect ordinary market sentiment; rather, they stem from the fact that the Federal Reserve is now buying more long-term securities than the government is issuing to finance the budget deficit. Looking further ahead, the CBO warns that the combination of a rapidly aging population and the increase in medical costs will cause the deficit to rise rapidly, driven by the higher costs of pension and health care benefits for middle-income retirees. According to the CBO, without legislative changes, the fiscal deficit in 2037 will be 17 per cent of GDP, while the national debt will increase to more than 195 per cent of GDP. A large and rising national debt is a serious danger to an economy's health. Higher debt-service costs require higher tax rates, which in turn weaken incentives and reduce economic growth. By the end of the decade, the US will have to pay an amount equivalent to more than one-third of the revenue from personalincome taxes just to pay the interest on the national debt. Foreign investors now hold more than half of that debt. Paying interest to them requires sending more goods and services to the rest of the world than the US receives from the rest of the world. That requires a weaker dollar to make US goods more attractive to foreign buyers and to make foreign goods more expensive to American
consumers. The weaker dollar reduces the US standard of living. A large national debt also limits the government's ability to respond to emergencies, including both military threats and economic downturns. And it makes the US vulnerable to changes in financial market sentiment, as the European experience has shown. Reducing future deficits and reversing the rise in the national debt require raising tax revenue and slowing the growth of government pension and health care programmes. Tax revenue can be raised without increasing marginal tax rates by limiting the tax subsidies that are built into the current tax code. Those subsidies are a hidden form of government spending on everything from home mortgages and health insurance to the purchase of hybrid cars and residential solar panels. Slowing the growth of the pension and healthcare programmes for middle-class retirees cannot be done abruptly. It must begin by giving notice to those who are now a decade away from retirement - which is why it is important to launch such reforms now. Unfortunately, the new complacency about future deficits makes it difficult, if not impossible, to enact the legislation needed to begin the process of trimming America's long-term fiscal deficit. It is important for policy makers and the public alike to understand the real fiscal outlook and the damage that high deficits will cause if prompt action is not taken. Merely moving the problem to the back burner will not prevent it from boiling over. Source: business Standard
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WEEKLY CURRENT AFFAIRS BULLETIN

10TH JUNE 2013 TO 16TH JUNE 2013

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CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

Weekly Current Affairs 10th June to 16th June, 2013

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

Weekly Current Affairs 10th June to 16th June, 2013

Weekly Current Affairs 10th June to 16th June, 2013

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

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Virus from dogs turning tigers into maneaters

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John Ashe elected UN General Assembly President

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A guide to Afghanistan in four scenarios

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CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

CHRONICLE IAS ACADEMY GS MAINS UPGRADATION PROGRAMME A SOLUTION TO 1250 MARKS

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