National Political News:
1. A Niti Ayog meeting has taken place in Delhi regarding the land acquisition for Industrial and commercial ventures. The Niti Ayog governing council meeting was chaired by the Prime Minister Narender Modi and also attended by the Finance Minister Arun Jaitley as well as 16 Chief Ministers of various states including Bihar’s Nitish Kumar and Delhi’s Kejriwal. Congress lead state governments Chief Minister’s abstained. The meeting decided that the States could frame their own land acquisition laws and the Cental Govt. could then grant approval to the same. This modality maybe adopted if the government is not successful in getting a consensus on the land acquisition bill.
2. Sartaj Aziz, adviser to Pakistan PM declared in Islamabad, capital ofPakistan, the old Pakistani position on resolution of disputes with India that “No dialogue will take place with India unless Kashmir was on the agenda”. This was irrespective of the bonhomie between PM Modi and Pakistan PM at Russian town of UFA during the recently concluded SCO summit.
3. Indian foreign secretary Jai Shankar warns Pakistan of a forceful response and non-tolerance ofceasefire violations by it on the International border. Pakistan has lately been harping of a drone violation of their airspace by India.
4. The United States of America is currently the largest defence equipment supplier to India, much ahead of Russia, Israel and France. The US and India may go in for purchase deals of attack helicopters – Apache Longbow Gunships, C – 17 Globemaster III Aircraft, Howitzers – Artillery guns and heavy lift helicopter Chinook.
International Political News:
1. Europe’s 19 nations that use European common currency the Euro and Greece have successfully negotiated an economic deal. The deal includes close monitoring of Greece economy by Europe and IMF. A credit line of Euro 86 billion to keep Greece afloat for 3 years hence has been extended. Consideration of proposals to pay of Euro 300 billion debt by Greece are also in the pipe line.
2. Iran has concluded a nuclear deal with 6 world powers representing Europe and America to curb Iran’s nuclear programme to be used for peaceful purposes only.Under the deal the Iranian nuclear and military sites shall be open to Western inspections minus the US. In exchange Iran get billions of dollar in relief from relaxation /withdrawal of International sanctions and another $100 billion of its assets are defrozen overseas. For the next 10 years Iran shall not produce weapon grade uranium /plutonium.
The deal is India positive as India will have easier access to Iranian oil and gas for imports and for exports of Indian agricultural produce mainly basmati rice,tea and coffee.
3. ISIS attacks a market place in Khan Bani Saab, North East of Baghdad on Eid festival day. The market was packed with Shia Muslims celebrating the end of holy month of Ramzan. 115 Shia Muslims were killed in the attack.
1. The Government of India is to inject Rs.12000 crores in to NPA laden Public Sector Banks. Already a sum of Rs.7940 crores has been allocated for Public Sector Banks in this year’s financial budget. Public Sector Banks need Rs. 2.40 lakh crore capital infusion by 2018 to meet the Basel III norms.
2. The General Motors has recalled 1.55 lakh cars covering its models Chevrolet Spark, Beat and Enjoy MPV fitted with a doubtful accessory viz a faulty remote keyless entry fitting.
3. US Fed Chairman Janet Yellen at a House Financial Services committee meeting in Washington has said that the American Central Bank is on track for a interest rate hike in 2015. This shall result in strengthening of the US dollar, which can put the currencies of emerging markets in a tightspot.
4. A new composite cap for foreign investments has been okayed by the government. Henceforth no government nod will be needed for foreign investments up to 49%. Banks and defence sector equipment manufacturing have been kept out of this relaxation in FII /FDI investments.
5. South Korean company Posco’s $12 billion Orissa steel project is on hold as it has suffered delays because of land acquisition, green – environment issues. The latest to add to its woes is the auction of coal and iron ore mines which has resulted in a price hike of these two raw materials.
6. Local WhatsApp, Viber and Skype calls may become chargeable as per interpretation of the high level Government committee on Net Neutrality.
Science and Technology:
1. NASA’s New Horizons spacecraft flies by Planet Pluto which is 3 billion miles away from earth. Several new high resolution images of Pluto and its moon have been beamed back to earth by it. The spacecraft has passed within 12500 kms of Plutos surface.
1. India win the Second ODI against the Zimbabwe by 62 runs. India scored 271 for 8 wickets in 50 overs to which Zimbabwe replied with 209 runs all out in 49 overs. Murali Vijay scored a match winning 72 runs for India.
India also beat Zimbabwe in the 1st T–20 match. India scored 178 runs for 5 wicket in 20 overs while Zimbabwe replied with 124 runs for 7 wicket in 20 overs.
2. The IPL spot fixing scandal.
Former Chief Justice of India R.M. Lodha, heading a committee duly constituted by the Supreme Court to go into the IPL spot fixing scandal has imposed punishment on Guru NathMeiyappan, Raj Kundra, Chennai Super Kings, Rajasthan Royals for the betting scam in IPL 2013. All of them have been banned from cricket for various terms.
3. Bangladesh beat South Africa by 9 wickets to clinch the One day International series 2–1 played in Bangladesh.