Daily updates 9 april 2018

National News

1. India and Nepal Agree to Strengthen Bilateral Relations in Key Areas

i. India and Nepal have agreed to further strengthen bilateral relations in key areas of border security, connectivity, trade and agriculture. The two countries agreed to
develop inland waterways for overall economic development of the region.
ii. Aiming to expand cross-border rail linkages, the two sides have also decided to construct a new electrified rail line, with India’s financial support. The rail line will connect the border city of Raxaul in India to Kathmandu in Nepal. 

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Nepal Capital- Kathmandu, Currency- Nepalese rupee, President- Bidhya Devi Bhandari, Prime Minister- Khadga Prasad Oli. 

2. Tripura CM Launches State Component of PMKVY

i. Tripura Chief Minister Biplab Kumar Deb launched the state component of Pradhanmantri Kaushal Vikas Yojna (PMKVY) in Agartala. He assured that the target to give training to more than 1 lakh 16,000 youths by 2020.
ii. Tripura is the first state in the North East to implement the state component of PMKVY through Directorate of Skill Development (DSD). 

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Tripura CM- Biplab Kumar Deb, Governor- Tathagata Roy, Capital- Agartala.

3. Pradhan Mantri Ujjwala Yojana Launched in Delhi

i. Union Minister Dharmendra Pradhan launched Pradhan Mantri Ujjwala Yojana (PMUY) scheme in Delhi and distributed new LPG connections and cylinders to beneficiaries.
ii. During the event, about 400 LPG connections were handed over to families belonging to below poverty line category. Target under this scheme has been increased from the existing 5 crore connections to 8 crore connections by 2020.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

PMUY was launched in May 2016.

The objective of this scheme is to provide deposit-free LPG connections with monetary assistance to women from below poverty line (BPL) households



4. Assam's Spring Festival Begins in Manas National Park

i. The two-day Assam Spring Festival began at the Manas National Park where visitors will get to experience the state's local food, music, handloom and handicrafts. 
ii. The aim of the event is to promote the local food and culture of the fringe villagers. It is an attempt to create a model of alternative livelihood through food, handloom and Cultural Park.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Manas National Park is also a tiger and rhino reserve which covers five districts of Assam.

International News

5. President 3-Nation Visit: India and Equatorial Guinea Sign 4 Agreements

i. India and Equatorial Guinea sign four agreements in the field of agriculture, mining, health, telecommunications and IT after delegation-level talks between Indian President Ram Nath Kovind and Equatorial Guinea President Teodoro Obiang Nguema Mbasogo at Malabo, Equatorial Guinea.
ii. The two countries agreed to work together at UN, where Equatorial Guinea has just begun a two-year term on the Security Council. President Kovind is on the first leg of his 3-nation visit to Equatorial Guinea.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Capital- Malabo, Currency- Central African CFA franc.

6. Nitin Gadkari on 4-Day Visit to South Korea

i. Road Transport and Highways Minister Nitin Gadkari is on a four-day official visit to South Korea. 
ii. Mr Gadkari’s visit is aimed at strengthening ties between the two nations and further cementing cooperation in areas, including sharing of technology, experience in port development and joint participation in port-related construction.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

South Korean President- Moon Jae-in, Capital- Seoul.

7. UAE and Malaysia Conclude Joint Military Exercise 'Desert Tiger 5'

i. The United Arab Emirates (UAE) and Malaysia concluded joint military exercise “Desert Tiger 5” aimed at sharing expertise and enhancing joint military actions in Dubai, UAE.
ii. The military exercise was aimed at raising the level of performance and combat efficiency and working together between both countries based on the strategy to improve the overall ability and combat readiness of ground forces.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

The UAE Capital- Abu Dhabi, Currency- UAE dirham.

Malaysia Capital- Kuala Lumpur, Currency- Malaysian ringgit.

Banking/Economy News

8. FPI Investment Limit in Government Securities Hiked

i. In a move that could temporarily soften bond yields, the Reserve Bank of India, in consultation with the Government, hiked the foreign portfolio investors (FPI) investment limit in Central government securities (G-Sec) from 5% of outstanding stock now to 5.5% in FY2019 and 6% in FY2020.
ii. The FPI investment in state development loans (SDLs) has been left unchanged at 2% of outstanding stock of securities.

9. Deutsche Bank Names Christian Sewing New CEO

i. Deutsche Bank AG named Christian Sewing as the Chief Executive officer of the Bank. He has replaced John Cryan. Sewing will take over with immediate effect.
ii. Garth Ritchie was promoted to sole head of the securities unit and will become a deputy CEO, along with chief administrative officer Karl von Rohr.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Deutsche Bank established its first branch in India in 1980.

Deutsche Bank Headquarters in Frankfurt, Germany.



10. RBI Switches Back to GDP Scale to Measure Economy

i. The Reserve Bank of India switched back to the gross domestic product (GDP)-based measure to offer its growth estimates from the gross value added (GVA) methodology, citing global best practices.
ii. The government had started analysing growth estimates using GVA methodology from January 2015 and had also changed the base year to 2018 from January.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Urjit Patel- 24th Governor of RBI, Headquarters- Mumbai, Established on- 1st April 1935, in Kolkata.

While GVA gives a picture of the state of economic activity from the producers’ side or supply side, the GDP model gives the picture from the consumers’ side or demand perspective.



11. India's Foreign Exchange Reserves Hit a Life-Time High

i. India’s foreign exchange reserves hit a life-time high of 424.361 billion US dollar after rising by 1.828 billion dollar in the week to March 30, according to the Reserve Bank of India data.
ii. Gold reserves remained unchanged at 21.614 billion US dollar.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Arun Jaitley is the present Finance Minister of India.

Dr Urjit Patel is the 24th Governor of RBI.





RBI Headquarters in Mumbai.

Awards

12. Anushka Sharma to Get Dadasaheb Phalke Excellence Award

i. Bollywood actor Anushka Sharma will be awarded the Dadasaheb Phalke Excellence Award for her successful movies as a producer.
ii. The award will be given by an organisation called Dadasaheb Phalke Foundation, a Mumbai-based organisation, which is different from the Government of India instituted Dadasaheb Phalke Award, awarded during National Awards ceremony held annually in New Delhi.

Sports News

13. Sebastian Vettel Wins Bahrain Grand Prix

i. Ferrari's Sebastian Vettel won his second Grand Prix in as many races, at the Bahrain Grand Prix, while Mercedes' Valtteri Bottas finished second by just 0.699 seconds.
ii. Meanwhile, reigning world champion Mercedes' Lewis Hamilton finished third.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Bahrain Capital- Manama, Currency- Bahraini dinar.

CWG 2018

14. Jitu Rai and Mehuli Ghosh Breaks CWG Record

i. Jitu Rai broke the games record to claim the gold medal by some distance in men's 10m air pistol, at the ongoing 21st Commonwealth Games. Om Prakash Mitharval bagged bronze in the same event. Australia's Kerry Bell secured the silver medal, having managed to topple Mitharval from the second position.
ii. India's 17-year-old shooter Mehuli Ghosh set a Commonwealth Games joint record to win silver in the women's 10m Air Rifle event. Ghosh and eventual gold medallist Singapore's Martina Lindsay Veloso both ended with record score following which the winner was decided by a shoot-off. India's 25-year-old shooter Apurvi Chandela won a bronze medal in the same event.

15. India Win Badminton Team Gold for 1st Time in CWG History

i. India clinched their first-ever badminton mixed team event gold in Commonwealth Games history after defeating defending champions Malaysia 3-1 in the final at Gold Coast.
ii. India's previous best performance in mixed team event at CWG was a silver-medal finish in the 2010 edition. Saina Nehwal and Kidambi Srikanth represented India in singles' matches of the five-member team event.

16. Indian Men's TT Team Wins Gold

i. India defeated Nigeria to clinch gold in the men's table tennis team event at the Commonwealth Games for the first time since 2006.
ii. With this, India joined England to bag second-most table tennis gold medals (5) at CWG. This is the first time that India have won both men's and women's TT team events at a single CWG edition.

17. Weightlifter Punam Yadav Wins 5th Gold For India

i. India’s weightlifter Punam Yadav won gold in the Women’s 69kg weightlifting category. Yadav lifted a combined total of 222kg (100 snatch and 122 clean and jerk) and defeated England’s Sarah Davies her closest competitor to take her second medal at the Commonwealth Games.
ii. This was India’s fifth gold medal in the ongoing games. Venkat Rahul Ragala
earned India the fourth Gold medal after lifting 338 kilograms in the Men’s 85 kg category.

18. Indian Women’s TT Team Wins Gold

i. India has bagged three more Gold, one Silver and two bronze medals at the 21st Commonwealth Games in Gold Coast on the fourth day. Indian women’s Table Tennis team won their first ever Gold Medal defeating Singapore.
ii.  Manika Batra led Table tennis team’s victory was historic as Singapore had never lost since 2002.

Daily news 2 April 2018

National News

1. India Becomes 2nd Largest Producer of Mobile Phones in the World
i. India is now the second-largest mobile phone producer in the world after China. According to the data shared by Indian Cellular Association with the government, annual production of mobile phones in India increased from 3 million units in 2014 to 11 million units in 2017.
ii. With this, India replaced Vietnam to become the second largest producer of mobile phones in 2017. 

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Vietnam Capital- Hanoi, Currency- Vietnamese dong, President- Tran Dai Quang.



2. Delhi Becomes 1st City to Roll-Out Euro VI Fuel
i. With an aim to combat the rising levels of air pollution in Delhi-NCR region, petrol pumps in the capital started supplying ultra-clean Bharat Stage VI grade fuel (both petrol and diesel).
ii. This move makes New Delhi the first city in the country to switch from BS-IV grade fuels to BS-VI (equivalent to fuel meeting Euro-VI emission norms).

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

The major difference in standards between the existing BS-IV and the new BS-VI auto fuel norms is the presence of sulphur.

3. Kerala to Host Asia's Largest Startup Conclave
i. Asia's largest startup ecosystem congregation, Huddle Kerala, will be held at Kovalam. The initiative is envisaged to provide a platform for start-ups to pitch their products and interact with a wide array of technology and industry leaders from around the world.
ii. Chief Minister Pinarayi Vijayan will inaugurate the conclave, being organised by the Kerala Startup Mission (KSUM) in association with Internet and Mobile Association of India (IAMAI) and IAMAI Startup Foundation.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Palaniswamy Sathasivam is the present Governor of Kerala.

Thiruvananthapuram is the capital city of Kerala.



4. Foundation Stone Of Naitwar Mori Hydro Electric Project Laid In Uttarakhand
i. R K Singh, Minister of State (IC) for Power and New & Renewable Energy, laid the foundation stone of the 60 MW Naitwar Mori Hydro Electric Project (NMHEP) along with Uttarakhand Chief Minister Shri Trivendra Singh Rawat in Uttarkashi.
ii. The Proposed NMHEP is located on the river Tons – a tributary of the Yamuna, in Uttarkashi district of Uttarakhand. This run-of-the-river project was allocated to SJVN Ltd by the Government of Uttarakhand.

5. U.P. CM Inaugurates India’s Longest Elevated Road in Ghaziabad
i. Uttar Pradesh Chief Minister Yogi Adityanath inaugurated a 10.30-km-long elevated road, touted to be the longest of its kind in the country, connecting UP Gate and Rajnagar Extension, Ghaziabad.
ii. Built at a cost of Rs1,147 crore, the six-lane elevated road is supported on 227 pillars. The road will make it easier to commute between Delhi and Ghaziabad.

6. Mangaluru Airport Adjudged India's Cleanest Airport
i. The Mangalore International Airport has been adjudged the cleanest airport in the country. Airport director VV Rao received the award during the 23rd annual day celebrations of the Airports Authority of India (AAI) in New Delhi.
ii. In the survey conducted across 53 airports in the country by AAI, Mangaluru airport was adjudged the cleanest.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

The Chairman of Airports Authority of India is Guruprasad Mohapatra.

International News

7. World Autism Awareness Day- 2 April
i. The United Nations General Assembly unanimously declared 2 April as World Autism Awareness Day to highlight the need to help improve the quality of life of those with autism so they can lead full and meaningful lives as an integral part of society.
ii. The theme for WAAD 2018 is "Empowering Women and Girls with Autism".

8. USA and South Korea Begin Joint Military Exercise- 'Foal Eagle'
i. The United States and South Korea began their joint military training exercise named 'Foal Eagle. More than 11,500 U.S. troops and nearly 300,000 South Korean forces will take part in the four-week exercises.
ii. Foal Eagle, the largest annual joint military exercise in South Korea, usually runs about two months. Its start was delayed this year at the request of South Korea until after the Winter Olympics.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

South Korea President- Moon Jae-in, Capital- Seoul.




Banking News

9. SIDBI Foundation Day- Launches 'Samridhi- virtual assistant' & ' Bankability Kit'
i. SIDBI (Small Industries Development Bank of India) has celebrated its foundation day. Chairman Managing Director of SIDBI Mohammad Mustafa launched a series of initiatives from its Lucknow bank headquarters.
ii. An MoU was signed with The New India Assurance Co. Ltd. and two MSMEs were issued insurance policies. Chairman SIDBI also launched 'Samridhhi- the virtual assistant' on banks revamped universal loan portal www.udyamimitra.in. During the day, a ‘Bankability Kit’ (brought in partnership with Bank of Baroda and IDBI Bank) was also launched.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

SIDBI CEO- Dr Kshatrapati Shivaji, Founded- 2 April 1990, Headquarter- Lucknow.



10. Jana Small Finance Bank Commences Operations
i. Jana Small Finance Bank (formerly Janalakshmi Financial Services) announced commencement of its banking operations.
ii. To cover its extensive customer base, Jana Bank will initially open 19 branches across 18 States and expand to 200 banking outlets,  including the 25% unbanked rural branches by June 2018.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Ramesh Ramanathan is the chairman of Jana Group.





Ajay Kanwal is the Managing Director and Chief Executive Officer of Jana Small Finance Bank.





Jana Small Finance Bank headquarters in Bengaluru, Karnataka.



11. SEBI Doubles Investment Limit of Angel Funds to Rs10 crore
i. Looking to provide an impetus to early-stage start-ups, markets regulator Securities and Exchange Board of India (SEBI) decided to double the investment limit by angel funds in venture capital undertakings to Rs10 crore from the current Rs5 crore.
ii. The SEBI board has approved amendments to Alternative Investment Funds (AIF) regulations with respect to ‘Angel Funds.’ Further, SEBI would halve the minimum corpus size required for an angel fund to register with it to Rs5 crore.

Static/Current Takeaways Important for Exam-

SEBI- Securities and Exchange Board of India.





SEBI Chairman- Ajay Tyagi, Headquarters- Mumbai.



12. RBI Changes Methodology for Bond Valuation to Check Manipulation
i. In a bid to prevent the possibility of manipulation in the prices of securities, especially government securities (G-Secs), the Reserve Bank of India has changed the methodology used by debt market players, including banks and primary dealers, for their valuation.
ii. As per a central bank directive, security/bond valuation will be based on the weighted average price of the last half-an-hour of trading on the last trading day of every quarter against the last traded price earlier.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Dr Urjit Patel is the 24th Governor of RBI.





RBI Headquarters in Mumbai.





RBI was Established on 1st April 1935.

Awards

13. J.C. Daniel Award for Sreekumaran Thampi
i. Lyricist and director Sreekumaran Thampi has been selected for the J.C. Daniel Award, the Kerala government’s highest honour for lifetime contribution to Malayalam cinema. The award comprises of Rs5 lakh and a citation.
ii. The award was distributed at the Kerala State Film Award distribution function in Kollam. Thampi made his debut in 1966 with Kattumallika.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Kerala CM- Pinarayi Vijayan, Governor- Justice (Retd.) Palaniswamy Sathasivam.

Appointments 

14. Debjani Ghosh Appointed New President of Nasscom
i. Debjani Ghosh, former managing director of Intel South Asia, is the new president of Nasscom. She has replaced R.Chandrashekhar upon completion of his term.
ii. A big propagator of gender diversity and equal representation in corporate India, Ms Ghosh was the first woman to lead Intel India and MAIT (Manufacturers' Association for Information Technology).

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

National Association of Software and Services Companies is the full form of Nasscom.

Raman Roy is the chairman of Nasscom.

15. US Diplomat DiCarlo Becomes 1st Female UN Political Chief
i. Long-serving American diplomat Rosemary DiCarlo was appointed to become the first woman to head UN political affairs, one of the most high-profile positions at the world body. DiCarlo has replaced Jeffrey Feltman.
ii. DiCarlo also served as deputy assistant secretary of state for European and Eurasian affairs and director for United Nations affairs at the national security council in Washington.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

The United Nations is an international organization founded in 24th of October 1945. 





It is currently made up of 193 Member States.





The Headquarters of UN: New York, USA.





Antonio Guterres is the Secretary-General of the United Nations.

16. Lt Gen Harpal Singh Takes Charge as Director General Border Roads 
i. Lt Gen Harpal Singh an alumnus of National Defence Academy, Khadakwasla has been appointed as Director General Border Roads (DGBR).
ii.  He commanded a Border Roads Task Force in Jammu & Kashmir valley.

17. Shuttler Kidambi Srikanth Appointed as Deputy Collector in Andhra Pradesh
i. Indian shuttler Kidambi Srikanth was appointed as a Deputy Collector in the state government by the CM of Andhra Pradesh N Chandrababu Naidu.
ii. K Srikanth was recently being awarded the Padma Shri award, India's fourth highest civilian honour. The Cabinet also announced a reward of Rs 2 crore for the shuttler.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Kidambi Srikanth became the first Indian to win four Superseries titles in a calendar year after winning the French Open earlier in 2017.

18. Chandra Bhushan Appointed Deputy Election Commissioner
i. Senior bureaucrat Chandra Bhushan Kumar has been appointed as Deputy Election Commissioner as part of a major bureaucratic reshuffle effected by the government.
ii. A total of 13 officers have been appointed as joint secretaries in different central government departments. Bhushan has been appointed to the post for five years.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Om Prakash Rawat is the present Chief Election Commissioner of India.

Sports News

19. Miami Open 2018- Complete List of Winners
i. The Miami Open, sometimes known as the Miami Masters, is an annual tennis tournament for men and women currently held in Florida, the USA.
ii. American John Isner won his first ever Masters 1,000 title with a victory over German Alexander Zverev in the Miami Open final. S. Stephens won in the Women's singles category.

Find the Complete List of Winners Here

20. Kerala Lifts Their 6th Santosh Trophy
i. Kerala has lifted their sixth Santosh Trophy Football title. In a thrilling final at the Salt Lake Stadium in Kolkata.
ii. Kerala held their nerves to beat defending champions and 32-time winners Bengal via penalty shootout. Locked 2-2 after extra time, Kerala goalkeeper V Mithun put up a stellar show in the tie-breaker to help his side win 4-2.

Obituaries

21. Former Manipur CM R K Dorendra Singh Passes Away
i. Former Manipur Chief Minister R K Dorendra Singh passed away in Imphal.
ii. He was 83. Dorendra Singh had been chief minister of the state four times between 1974 to 1993. Before becoming the chief minister, he was the Speaker of Manipur Assembly.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-

Manipur CM- Nongthombam Biren Singh, Governor- Dr. Najma A. Heptulla.

Shri Venkaiah Naidu has long experience, and is well-versed in the intricacies of Parliamentary procedures: PM

The Prime Minister, Shri Narendra Modi, today joined the members of the Rajya Sabha, in welcoming Vice President Shri M. Venkaiah Naidu, as Chairman of the House. 

The Prime Minister began his welcome remarks by recalling that today, 11^thAugust, was the day when a young revolutionary of the freedom struggle, Shri Khudiram Bose, was hanged by the British. He said that the event reminds us of the sacrifice of those who fought for freedom, and the responsibility that this places on all of us. The Prime Minister said that Shri Venkaiah Naidu is the first Vice President born in Independent India. He added that Shri Naidu has long experience, and is well-versed in the intricacies of Parliamentary procedures. 

Recalling his long association with Shri Venkaiah Naidu, the Prime Minister said Shri Naidu is always sensitive to the requirements of the rural areas, the poor and the farmers, and his inputs on these issues have been of immense value. 

The Prime Minister said that the fact that people from humble, rural background, today occupy the highest positions in India, shows the maturity of Indian democracy, and the strength of India’s Constitution.

Following are PM's remarks:

Hon’ble Chairman, heartiest congratulations and good wishes on behalf of the House and on behalf of the countrymen! 

Today, the 11th August, reminds us of a significant event in history. On this day, a youngster aged 18 years, Khudiram Bose, was sent to the gallows. It tells us about the struggle for independence and the sacrifices and reminds us of our responsibility towards the nation. 

Respectable Shri Venkaiah Naidu has become the first Vice President of the country, who was born in independent India. I think maybe he is the only Vice President who has been associated with this environment for so many years and knows the nuances of the House. The Country has got a Vice President who is familiar with everybody and everything - from the members to the committees, to the proceedings of the House. 

His public life started with the JP movement. During his student days, Jayaprakash Narayan led a nationwide agitation for good governance; and he proved himself as a student leader in Andhra Pradesh. Since then he started developing his personality, be it in the Vidhan Sabha or the Rajya Sabha, and had also expanded his field of work. And today we all have elected him and handed him over the responsibility for this position. 

Venkaiah ji is the son of a farmer. I have had the privilege of working with him for many years. Be it for a village, for the poor, or for the farmers, he had been providing his inputs all the time while studying these topics very closely. He was the Urban Development Minister in the Cabinet too. But I always felt that during the discussions in the cabinet he used to talk more about farmers and the problems of rural areas than the subjects related to urban areas. This topic was close to his heart probably because of his family background and childhood which was associated with villages. 

As Venkaiah ji has taken over the office of the Vice President, it is our responsibility to familiarize the whole world with it. There are also responsibilities which should be viewed in isolation from the politics. India's democracy is very mature. Indian constitution is very powerful. The significance of the constitution that our great men had bequeathed to us is such that the people who have the constitutional posts in India today are those who were born in rural areas or had poverty stricken family background; they have not come from any rich family. The presence of people from humble background in the highest posts of the country for the first time itself demonstrates the dignity of the constitution of India and the maturity of India's democracy and this pride is the pride of the 1.25 Crore people of India. Thus, I can clearly see the inheritance that our forefathers have given us. Once again I would like to bow down those constitution makers. 

Venkaiah ji is a great personality with austerity and great oratory skills. He possesses these rich endowments in his personality and we are familiar with his debating skills. And sometimes when he makes speeches in Telugu, it seems that he is running super-fast. But for that there should be clarity in thought and the ability to connect with the audience. It is not about playing with words; those who are associated with the world of oratory are well aware that just playing with words can never touch anybody's heart. But when one expresses his ideas with conviction which are based on a vision and beliefs, then the person touches the heart of the people. And Venkaiah ji has always been successful in this regard. 

It is also true that there is no such MP today, who doesn’t appeal to the government for the development of rural areas day in and day out - be it the Government of Dr. Manmohan Singh ji or mine. One such demand is for the Pradhan Mantri Gram Sadak Yojana in their respective areas. It is a matter of pride for all the MPs that the idea of the Pradhan Mantri Gram Sadak Yojana was envisaged by our very Vice-President, the Venerable Venkaiah Ji. This can only happen when one can empathise with the poor, the farmer, and the oppressed and is determined to take them out of their problems. 

Today, while Vankaiah ji is amongst us as the Vice President, we might face a little problem in adjusting in this House for some time because just like the lawyers in the Court feel strange when a lawyer from the Bar becomes a judge; a similar feeling may develop that he used to argue and debate with us in the House till recently, but now he is there as the Vice President! So some of us, especially for the Members of this House, who have worked with him as a friend and a colleague for so many years, may feel odd but it is the uniqueness of our democratic system that we develop our style of working within the system. 

I believe that a person like him who has come from within the system and has been in the Rajya Sabha for so many years shall show us the path and guide us in the House as the Chairman of the House. I have full faith and I believe that a positive change is to come. And today as Venkaiah ji is accepting this dignified post, I would quote a few lines: 

’अमल करो ऐसा अमन में, 

अमल करो ऐसा अमन में, 

जहां से गुजरे तुम्‍हारी नज़रें, 

उधर से तुम्‍हें सलाम आए।’’

And I would like to add -

‘‘अमल करो ऐसा सदन में, 

जहां से गुजरे तुम्‍हारी नज़रें, 

उधर से तुम्‍हें सलाम आए।’’

Heartiest congratulations and thanks a lot!

Indian Army Orders People Near Doklam to Vacate Their Village

New Delhi: The Indian Army has ordered the evacuation of a village close to the Doklam India-Bhutan-China tri-junction.

According to sources, a few hundred villagers living in Nathang village have been asked to vacate their houses immediately. Nathang is 35 km from the site of the two-month old standoff between Indian and Chinese troops.

It was not immediately clear if the order had been issued to accommodate thousands of soldiers of the 33 Corp who are reportedly moving from Sukna towards Doklam or whether it was a precautionary measure to avoid civilian casualties in case of a skirmish.

Villagers of Nathang, a small village with just a few hundred inhabitants, whom News18 spoke to, confirmed witnessing heavy troop movement in the area of late.

While the Army officially did not talk about the troop movement, some senior military officers called it an annual exercise that takes place in September, but has been advanced this year.

According to some reports, the Indian Army has called the troop movement in the area a regular maintenance move. The reports went on to quote army sources as saying that the military is in a 'no war, no peace' mode.

This, in military parlance, means being in a confrontational position with the enemy.

The state-controlled Chinese media has in the last few weeks been beating war drums quite incessantly. In a recent editorial published in China Daily, India was warned that “the countdown to a clash between the two forces has begun”.

The editorial, titled New Delhi should come to its senses while it has time, went on to state that the window to peacefully resolve the standoff in Doklam was closing as the row enters its seventh week.

“The countdown to a clash between the two forces has begun, and the clock is ticking away the time to what seems to be an inevitable conclusion.”

This is just one of the several vitriolic articles that have appeared in Chinese news agency Xinhua and their newspaper Global Times, in recent past.

The face-off between Indian and Chinese troops though is two months old now.

It started in mid-June in Doklam tri-junction when Indian troops stopped the Chinese army from building a road in the disputed area. China building a road on that site, India feared, would allow Chinese troops to cut India’s access to its northeastern states.

As per China's claims, it was constructing the road within its own territory.

Since the standoff, India has constantly batted for a dialogue but China has demanded immediate and unconditional withdrawal of Indian troops before a dialogue or peace process is initiated

Diplomacy to defuse India, China border crisis slams into a wall: Sources

NEW DELHI: India's diplomatic efforts to end a seven-week military standoff with China have hit a roadblock, people briefed on the talks said, prompting Chinese state-run media to trumpet rhetoric of "unavoidable countermeasures" on the unmarked border.

China has insisted that India unilaterally withdraw its troops from the remote Doklamplateau claimed by both Beijing and Indian ally Bhutan.

But China did not respond to India's suggestion in the talks that it move its troops back 250 metres (820 ft) in return, said one source with close ties to Prime MinisterNarendra Modi's government
Connect with us 



GET APP

Defence

Diplomacy to defuse India, China border crisis slams into a wall: Sources

By Reuters | Updated: Aug 08, 2017, 06.04 PM IST

Facebook


Whatsapp


Twitter


LinkedIn


gplus


email


message


aPlus


VIEW IN APP

In the low-key diplomatic manoeuvres that took place outside the public eye, the Chinese countered with an offer to move back 100 metres (328 ft), so long as they received clearance from top government officials.

NEW DELHI: India's diplomatic efforts to end a seven-week military standoff with China have hit a roadblock, people briefed on the talks said, prompting Chinese state-run media to trumpet rhetoric of "unavoidable countermeasures" on the unmarked border.

China has insisted that India unilaterally withdraw its troops from the remote Doklamplateau claimed by both Beijing and Indian ally Bhutan.

But China did not respond to India's suggestion in the talks that it move its troops back 250 metres (820 ft) in return, said one source with close ties to Prime MinisterNarendra Modi's government.

In the low-key diplomatic manoeuvres that took place outside the public eye, the Chinese countered with an offer to move back 100 metres (328 ft), so long as they received clearance from top government officials.

But there has been no comeback since, except for China's mounting warnings of an escalation in the region, which it calls Donglang.

It is a logjam, there is no movement at all now," said a second source with knowledge of the talks.

In Beijing, China's Foreign Ministry, which has repeatedly urged India to withdraw, did not immediately respond to a request for comment on the state of talks.

Indian troops went into Doklam in mid-June to stop a Chinese construction crew from extending a road India's military says will bring China's army too close for comfort in the northeast.

Their faceoff since, military experts say, is the most serious since going toe-to-toe in the 1980s, with thousands of soldiers each, elsewhere along the 3,500-km (2,175-mile) border.
China has held off going to war in the hope New Delhi would see reason, the state-run Global Times, which has kept up a barrage of hostile commentary, said on Tuesday.
If the Narendra Modi government continues ignoring the warning coming from a situation spiralling out of control, countermeasures from China will be unavoidable," it said.

The border crisis caps a year of souring diplomatic ties between the Asian giants, even though trade between the fast growing economies is rising rapidly.

India has grown concerned at China's ties to its arch rival Pakistan, viewing their trade corridor across Kashmir as an infringement of its claim to the whole of the region.

Modi refused to join President Xi Jinping's signature Belt and Road initiative to knit together Asia and beyond, making India the lone country to boycott a summit in May.

China has warned New Delhi not to be drawn into a Western military alliance led by the United States and including Japan. Modi has sought closer ties with both.

"There will be no happy ending for this confrontation," Indian foreign policy expert C. Raja Mohan wrote in the Indian Express newspaper, adding that India was unlikely to give in.

The second source said the worry was the standoff could drag on into a summit of BRICs nations China is hosting next month.

LIVE MANOEUVRES
Indian military officials say there is no troop buildup on either side, nearly two months into a standoff that involved about 300 soldiers just 100 metres (328 ft) apart on a plateau 3,000 m (10,000 ft) above sea level.

China has accused India of massing troops, however, and state media have warned against a fate worse than its defeat in a brief border war in 1962.

"We will keep engaging with China to resolve the dispute. War cannot solve problems," Indian Foreign Minister Sushma Swaraj told parliament, sticking to a conciliatory stance.

Still, both have flexed their muscles.

Last month, China held live-fire drills on the Qinghai-Tibet Plateau near the site of the standoff, state media said.

India's army ran low-key exercises in the Ladakh sector of the western Himalayas, where previous disputes have flared, though it is thousands of miles distant from Doklam.

"The chance of a conflict is low, nobody is expecting Xi Jinping to go to war before the Communist Party's congress," said Srikanth Kondapalli, a China specialist at Jawaharlal Nehru University in New Delhi, referring to an Oct-Nov meeting expected to confirm a second five-year term as partygeneral secretary for the Chinese leader.

Indian economy: Latest GDP estimates show the worst is not over

Finally, we have the numbers we have been waiting for. The latest GDP estimates are out, showing how the Indian economy steadily decelerated through the past year — a slide that got only worse with demonetisation. For the full year ended March 31, economic growth slowed to 7.1% from 8% a year earlier, and slipped sharply to 6.1% in the January-March quarter — the slowest in 13 quarters. The numbers vindicate what critics of demonetisation had predicted. These also deflate the government’s claim that the economic pain from its November 8 decision to scrap high-value currency notes would be temporary, with limited impact. Yet, most policy makers continue to be in denial.

Sample this: The government’s chief statistician, TCA Anant, refused to link the slowdown through the third and fourth quarter to demonetisation that brought widespread economic disruptions and sharply depressed both consumption and investment demand, with sectors such as construction and retail sales being the worst hit. Arvind Subramanian, the government’s chief economic adviser, said he thinks the worst is over. Finance minister Arun Jaitley argued what happened over the last two quarters of 2016-17 was more of an extension of the deceleration that had already set in from July.

I sincerely hope they do not believe in what they have said — that they have been forced by their occupational hazards to make these comments. Because, a closer scrutiny of the estimates points to a scenario that is more worrying than what the headline numbers would suggest.

The growth in gross value added (GVA), which factors out indirect taxes from estimating the value of GDP and is seen as a more appropriate measure of economic expansion,was 5.6% in the fourth quarter. The frequent revisions in excise duties on fuel and fuel products, which we saw through 2016-17, explain why GDP growth in the quarter turned out to be a half percentage point higher than the growth in GVA.

Further, if the impact of government spending and agriculture is factored out, the growth of GVA for the rest of the economy turns out to be just 3.8% in the January-March period. The corresponding figure in the same quarter a year ago was 10.7%. In other words, the deceleration in the sectors that the economy leans on for jobs and sustainable growth was much sharper than what we see in the headline GDP numbers. The construction sector, hardest hit by the note-ban decision, contracted; financial services grew just 2.2% and growth in mining slowed sharply.

All of these explain why the news of unemployment has returned to make headlines. Ironically, many of the victims continue to support demonetisation, with the hope that it would weed out corruption, destroy black money and help script a better future for them. The numbers we have now do not present a rosy outlook for the immediate future, however.

The most worrying pointer from the latest GDP data relates to investment demand. It slipped sharply through the year to end with a 2.1% contraction in the last quarter, underscoring an environment of fast-eroding business confidence and shrinking opportunities to find and deploy new capital.

To say that the worst is over would not only be naïve, but disastrous in its consequences. Make no mistake, even the sustained rally in the stock market should not be construed as evidence of either improving sentiments or the fundamentals getting better.

The Sensex has been rising because of expectations that the Reserve Bank of India would cut interest rates on the back of moderating inflation, that the monsoon will be good enough to spur demand and that the government will finally resolve the long-pending problem of bad loans. It is also hoped that the goods and service tax (GST) will be a game-changer.

As of now, these are hopes and expectations, and just that. There is little on the ground to suggest things will turn around soon. If anything, come July 1, we might see yet another disruption, when GST rolls out.