CURRENT AFFAIRS: APRIL 2013

NATIONAL AFFAIRS India joins Madrid Protocol On 8 April 2013, India joined the Madrid Protocol which will enable domestic companies and entrepreneurs to obtain cost effective global trademark registration. The treaty will enter into force with respect to India on 8 July 2013, according to the statement by the World Intellectual Property Organization (WIPO).

INTERNATIONAL AFFAIRS

Global military spending declines Global military spending dropped in 2012 for the first time in more than a decade thanks to deep cuts in the The Madrid System for the International Registration of Marks offers United States and Europe trademark owners a cost effective, user friendly and streamlined means which made up for increases of protecting and managing their trademark portfolio internationally. in countries such as China and Russia, according to a WIPO Director General Francis Gurry welcomed Indias accession to the leading think-tank, the Madrid Protocol. India is the 14th of the G-20 economies to accede to Stockholm International the Madrid Protocol. Peace Research Institute (SIPRI). Under the WIPO-administered Madrid system, a trademark owner may protect a mark in up to 88 countries plus the European Union by filing Big powers the United one application, in one language (English, French or Spanish), with one States and its European set of fees, in one currency (Swiss Francs). allies face tight budgets in an economic downturn and Trademarks are a key component of any successful business marketing have scaled back strategy as they allow companies to identify, promote and license their involvement in conflicts in goods or services in the marketplace and to distinguish them from those Iraq and Afghanistan. The of their competitors, and cement customer loyalty. worlds second biggest economy China, however, A trademark symbolises the promise of a quality product and in todays registered 7.8 percent global and increasingly electronic marketplace, a trademark is often the growth in 2012 from the only way for customers to identify a companys products and services. year before, up 175 percent from 2003. The international trademark system is governed by two treaties, namely, the Madrid Agreement Concerning the International Registration of Military expenditure in the Marks (1891) and the Madrid Protocol Relating to the Madrid United States, the worlds Agreement Concerning the International Registration of Marks (1989). biggest spender by far with a budgetabout five times that of Chinafell 6 percent Supreme Court rejects Novartis AGs plea for getting its blood and stood below 40 percent cancer drug patented in India In a landmark verdict with far reaching consequences, the Supreme of the global total for the Court, on 1 April 2013, rejected a plea by Swiss pharma giant Novartis first time since the collapse AG for getting its blood cancer drug Glivec patented in India, thereby of the Soviet Union more paving way for the continued production of the drugs generic version by than 20 years ago. Indian companies. In Europe, austerity Glivec, used in treating chronic myeloid leukaemia and some other measures prompted by the cancers, costs a patient about Rs 1.2 lakh/month, much higher than Rs financial crisis that started 8,000 which is the price of the generic drug. in 2008 have forced NATO members to cut back Delivering the verdict, the bench of Justices Aftab Alam and Ranjana spending by 10 percent in

Prakash Desai said that the Novartis claim for patent is being rejected as real terms. the new drug does not meet any standard for novelty or inventiveness. It was an old molecule; hence the drug cant get repeated patent protection Global military spending in India. fell significantly after the Cold War ended, reaching a Sections 3(d) of the Indian Patent Law restricts patents for already nadir in the mid-1990s, but known drugs unless the new claims are superior in terms of efficacy picked up pace sharply after while Section 3(b) bars patents for products that are against public the September 2011 attacks interest and do not demonstrate enhanced efficacy over existing on the United States. products. China has repeatedly said The verdict is of immense significance for all big pharma companies and the world has nothing to fear future of pharmaceutical industries worldwide. As per their view, patent from its military spending, protection was important to ensure effective protection for innovation but governments from and for protection of investment. Tokyo to Delhi are worried about the capabilities and Groups, such as Doctors Without Borders, say that India is the what appears to be the pharmacy of the world as cheaply made Indian generics are a lifesaver greater belligerence of for millions of patients in poor countries who cannot afford to pay Chinas military. Chinas Western prices to treat diseases such as cancer, malaria and HIV. stand-off with Japan over a series of uninhabited islands Some Indian pharmaceutical companies and social organisations had in the East China Sea has also approached the apex court against Novartis claiming that the already led to calls in Tokyo multinational company is making an attempt to evergreen its patent for Japan to alter its pacifist right. Ever-greening of patent right is a strategy, allegedly adopted by the constitution. innovators having patent rights over products, to renew them by bringing in some minor changes such as adding new mixtures or formulations. It At the same time, Vietnam, is done when their patent is about to expire. the Philippines and other Southeast Asian nations have challenged Beijing Sops for export growth in 2013-14 Foreign Trade Policy In a bid to revive Indias exports, the Union government, on 18 April over claims to swathes of 2013, extended the zero percent Export Promotion Capital Goods the South China Sea that (EPCG) Scheme to all sectors in the Foreign Trade Policy for financial could be rich in oil and gas. year 2013-14. The move is likely to boost Indias manufacturing sector which has taken a beating due to slowing demand from global Military spending is up economies. around 8 percent in the Middle East and North Indias exports in FY12-13 declined 1.76 percent to $300.60 billion. Africa. In a region Meanwhile, Indias trade deficit during 2012-13 increased to $190.91 transformed by popular billion, compared to$183.4 billion in the previous fiscal, while trade uprisings and reeling from a deficit during April-February stood at $182 billion. The decline in bloody civil war in Syria, exports has been on account of global slowdown and negative growth in Western allies such as Saudi sectors like engineering and textiles. Arabia and Oman have accounted for much of the increase in their efforts to Highlights of the Policy: India has become the largest exporter or rice and second largest counter the strategic exporter of wheat. challenge posed by Iran. Any exporter who takes benefit of the technology upgradation scheme can now be eligible to use the 0 percent EPCG scheme. In North Africa, countries Exporters, if they choose, may import capital goods on payment of such as Algeria have

duty in cash and subsequently receive duty credit scrip on completion of export obligation. Thus, there would be no duty remission/duty exemption at the time of import of the capital goods by exporters. To promote manufacturing activity and employment in the northeastern region of the country, export obligation under the EPCG Scheme shall be 25% of the normal export obligation. To promote exports of 16 identified green technology products, export obligation for manufacturing of these products, under the EPCG Scheme, is being reduced to 75% of the normal export obligation. Cabinet approves National Child Policy For the first time since Independence, India, on 18 April 2013, adopted a policy document at the highest level to recognise every childs right to survival, development, protection and participation and define a child as a person below 18 years of age.

bolstered spending in the face of rebel threats. Russias military spending rose 16 percent in 2012, which analysts said reflected President Vladimir Putins efforts to bolster the armed forces and improve weaponry.

World Bank aims to reduce global extreme poverty On 21 April 2013, global finance officials endorsed a The National Policy for Children 2030 states for the first time that a new World Bank goal to end child will be any person below the age of 18 years. It adds that all extreme global poverty by existing legislations will have to change to honour the policy. This 2030 and emphasized that means the government will now have to amend laws that bear conflicting its focus should be on definitions of children. ensuring that the poorest benefit from strong growth The Prohibition of Child Marriage Act 2006 will have to be amended to and rising prosperity in define all children below 18 years. At present, this law differentiates developing nations. between male and female children defining a child as anyone below 21 years in case of males and anyone below 18 years in case of For the first time in history females. we have committed to setting a target to end Similarly, the Prohibition of Child Labour Act will have to change as it poverty, World Bank currently defines a child as someone below 14 years for the purpose of President Jim Yong Kim child labour. said following a meeting of the World Banks The change in childs definition stems from Indias commitment to the Development Committee. UN Convention on Rights of the Child which it ratified long ago but We are no longer dreaming failed to bring its laws in line with the UNCRC. of a world free of poverty; we have set an expiration India adopted the last National Child Policy way back in 1974. The old date for extreme poverty, policy stressed Integrated Child Development Services, immunisation he added. and child labour. But since the advent of globalisation, rise in crimes against children and strides in mass media, the government had not The goal aimed to reduce revised its policy which could guide the national plans properly. extreme poverty to 3 percent globally and targets the bottom 40 percent of people India-Canada ink pact on nuclear commerce Around 40 years after India used plutonium from a Canadian heavy living in each country in the water reactor to carry out its first nuclear test in defiance of world developing world. opinion, Canada is set to resume nuclear commerce with New Delhi. In second week of April 2013, India and Canada vaulted the final hurdle in Developing economies are dismantling sanctions imposed after the Pokhran-I test by signing an growing on average about 6 Appropriate Arrangement Agreement (AAA) that will allow Canada to percent annually, lifting ship uranium to India. millions of people out of

poverty and creating a new The agreement was signed between the Canadian Nuclear Safety global middle class, which Commission and Indias Department of Atomic Energy. Canada is home has also given rise to to the second most significant uranium mining industry in the world after growing inequality. Kazakhstan. The new World Bank target France and Russia have supplied some quantities of uranium, but Canada coincides with efforts by the did not after the nuclear embargo imposed by the developed world on United Nations to draw up a India. An agreement with Australia has been inked, but a safeguards post-2015 poverty strategy framework is still being negotiated. to replace existing goals. India and Canada had signed a civil nuclear cooperation agreement in 2010 that allowed them to initiate negotiations for supply of uranium, or the Appropriate Arrangement Agreement (AAA). Canadas insistence on having a stringent monitoring mechanism for use of its uranium by India led to a stalemate in the talks. Latest figures released by the World Bank show that extreme poverty globally has plunged to 21 percent in 2010, from 43 percent in 1990, with most of the Canada, however, seems to have relented when PM Stephen Harper worlds poor now declared during his highly successful visit to India in November 2012 concentrated most heavily in that both countries have concluded negotiations sub-Saharan Africa and South Asia, as China has India had maintained all along during the negotiations that its safeguards successfully slashed agreement with IAEAsigned in February 2009was enough to take extreme poverty. care of Canadas concerns over non-proliferation. The Development Canada, with its large and high-quality reserves of uranium, could Committee called for a become an important supplier for Indias ambitious nuclear power robust donor fund-raising programme that envisages 30,000 MW of nuclear power by 2030. campaign by the World Indias current nuclear power production stands at a paltry 5,000 MW. Banks fund for its poorest Producing 200 MW of nuclear power requires over 30 tonnes of borrowers and urged strong uranium. participation by all countries. India currently produces 450 metric tonnes of uranium and its reserves are modest 61,000 tonnes of recoverable metal. Donors from rich and developing economies gather every three years to Visit of Prime Minister Manmohan Singh to Germany On 11 April 2013, during the three-day bilateral visit of Prime Minister pass the hat around to raise Manmohan Singh to Germany, India and Germany inked six key MoUs, funds for the Banks including that for putting together 7 million for next four years towards International Development joint research in the field of higher education and a pact for a soft loan of Association, or IDA. 1 billion for strengthening the green energy corridor. Traditionally, the United The trade agreement was the principal topic on Dr. Singhs agenda in States, Britain and Nordic Berlin. Germany is Indias principal EU trading partner with a volume of nations have been the 18.4 billion Euros (24 billion dollars) in two-way trade in 2011. biggest IDA funders, but over the past several years, A pact to promote German as a foreign language was also signed by the countries such as Brazil, two sides, following the second round of inter-governmental India and China, Chile, Consultations in Berlin. Argentina and Peru have also contributed

Under the pact for the green energy corridor, the grid system in several States will be used to transmit energy produced by renewable and nonconventional means.

substantially.

Serbia, Kosovo reach historic deal The visit marked in strengthening of economic and political ties between On 19 April 2013, Serbia the two countries with India voicing interest in furthering economic agreed to cede its last relations, expanding defence cooperation anchored in technology remaining foothold in the transfer, co-development and co-production in India, easing of German countrys former province export controls for India, continuing efforts through the G4 for reforming of Kosovo, striking a the UN Security Council while, in addition to the agreements signed, historic accord to settle agreeing on the importance of an early conclusion of a balanced Indiarelations in exchange for EU Board Based Trade and Investment Agreement and on setting up a talks on joining the High Technology Partnership Group. European Union. The deal, brokered by the EU, capped However, there is still some way to go before EU would agree to signing six months of delicate a Free Trade Agreement (FTA) with India. There are currently three negotiations and marks a main areas that require further negotiation and a need for finding a milestone for the regions middle path: (i) an increase in the FDI cap on insurance (from 26 per recovery from the collapse cent to 49 per cent), (ii) relaxations in the tariff rate in the automotive of Yugoslavia in the 1990s. sectors and (iii) safeguarding of intellectual property rights (IPR). If implemented, it could Prime Minister Singh pressed Germany to provide a strong political unlock Serbias potential as thrust for inking of a broad-based Bilateral Investment and Trade the largest market in the Agreement (BITA) with the 27-nation European block. In a joint former Yugoslavia, taking statement, both leaders underlined their strong commitment to a the country from successful outcome to the EU-India negotiations for a broad-based, international pariah under ambitious and balanced Free Trade Agreement that will generate jobs late strongman Slobodan and growth in both countries and their hope for final agreement in 2013. Milosevic to the threshold of mainstream Europe. There was also an exchange of views on Iran, a rather delicate issue considering that Iran is Indias fourth largest source of oil supply and is Prime Ministers of both located in its neighbourhood. But statements made at the joint news sides initialled a two-page conference affirmed that both countries are against Iran acquiring plan outlining an end to the nuclear weapons. ethnic partition of Kosovo between its Albanian Issues of terrorism, export controls, possible areas of defence majority and a small, partnership, ongoing economic crisis in the euro-zone and other strategic Belgrade-backed pocket of issues were also discussed. some 50,000 Serbs in the north. The schism has dogged regional stability India, Russia to cooperate in disaster management India and Russia have signed a regulation defining the structure, and development since functions and procedure of the joint commission which has been Kosovo seceded from Serbia established by an agreement signed on 21 December 2010, in New in 2008. Delhi, in the field of emergency management. In exchange for limited Indian Home Minister Sushilkumar Shinde and his Russian counterpart autonomous powers for the Vladimir Puchkov, Minister of the Russian Federation for Civil Defence, Serb north, Serbia agreed Emergencies and Elimination of Consequences of Natural Disasters not to block Kosovos path signed this agreement in Moscow, on 12 April 2013. to eventual membership of the EUa concession

The Indo-Russian Commission will ensure the implementation of the agreement for catalysing cooperation in the field of emergency management and contribute to the well being and safety of the people of both the countries in the event of disasters and also to exchange mutually beneficial scientific and technical information in the area of emergency management. The meetings of the joint commission will be alternatively held in India and Russia. The two countries already have inter-governmental joint commission that largely deals in Defence cooperation. Visit of Vice-President Ansari to Tajikistan Vice-President Hamid Ansari arrived in Tajikistan on 14 April 2013, for a four-day official visit that gave an impetus to Indias relations with the Central Asian neighbour. This was the first visit to the country by a Vice President of India.

Kosovo hailed as recognition of independence. Neighbouring Croatia, a wartime foe of Serbia during Yugoslavias demise, joins the EU on 1 July 2013, a sobering reminder for many Serbs of just how far they have fallen behind.

Kosovo is recognised by over 90 countries, including the United States and 22 members of the 27-nation EU that Serbia wants to During the visit Mr Ansari held discussions with the President Emomali join. But it has yet to join Rahmon who has been a regular visitor to India. The Tajik Presidents the United Nations, last visit, his fifth to India, was in September 2012. It coincided with the something Serbian ally and 20th anniversary of the establishment of diplomatic ties between the two UN veto-holder Russia countries. holds the key to. India has played a key role in developing the Ayni airbase and continues In a sign of possible to cooperate with Tajik authorities in maintaining it. resistance to come, Serb municipal lawmakers in India has also unveiled its Connect Central Asia policy, which includes a northern Kosovo demanded proactive multi-pronged diplomatic thrust to expand ties with the energy- a referendum on whether rich Central Asian nationsKazakhstan, Uzbekistan, Kyrgyzstan, Kosovo should be part of Turkmenistan and Tajikistan. Serbia or Belgrade should accept the conditions set Tajikistan holds a crucial place for India, owing to its geo-political down by the EU to clinch position, as it shares borders with China and Afghanistan. The nearest accession talks. Tajik point is only 16 km from Pakistan-Occupied Kashmir (PoK). The two countries also have old and traditional linguistic and cultural ties. Steeped in history and myth for Serbs, Kosovo broke Issue of terrorism emanating from Pakistan and Afghanistan and trade away from Serbia in 1999, ties topped the agenda of talks. when NATO carried out 11 weeks of air strikes to halt The two countries also discussed ways to boost trade ties, cooperation in the killing and expulsion of capacity building in areas of information technology enabled services ethnic Albanians by Serbian and entrepreneurship development. The low level of trade between India military forces under and Tajikistan, which stood at $27 million in 2012, remains an area of Milosevic waging a brutal concern for both the nations. counter-insurgency campaign. Kosovo became a ward of the United Nations, DO YOU KNOW but Belgrade retained de With the objective of controlling light pollution and getting people to facto control over the northern Serb pocket. The embrace the night, the first India chapter of the International Darkpartition has frequently Sky Association (IDA) was inaugurated in Thiruvananthapuram, on 5

April 2013. The IDA, which is spread over 75 countries, tries to highlight the hazards of light pollution. Not only does excessive and unnecessary lighting mar our view of the magnificent night sky, it also hinders space research, disrupts ecosystems, adversely affects the human circadian rhythm and wastes energy. As part of the global campaign against light pollution, the IDA celebrates theInternational Dark Sky Week, from 5 to 11 April every year. World Health Day is celebrated on 7 April to mark the anniversary of the founding of World Health Organisation (WHO) in 1948. The theme for 2013 is High Blood Pressure. Hennessey Venom GT is now officially the worlds fastest stock production car, eclipsing the former record holder, the Bugatti Veyron. Hennessey officials tested the 1261PS/1564Nm 7.0-litre twin-turbo V8 Venom GT on the US Naval Air Station in Lemoore. The 3.21 km run saw the Venom attain a speed of 427.60 kmph, which is not its top speed considering that the driver ran out of road. Huvafen Fushi, a luxury resort in the Maldives, is home to what it claims is the worlds first underwater spa. The spa has been named Lime. Where there is discord, may we bring harmony; where there is error, may we bring truth; where there is doubt, may we bring faith; and where there is despair, may we bring hopeThis was said by Mrs Margret Thatcher, first woman Prime Minister of Britain. India Water Week was inaugurated by President Pranab Mukherjee on 9 April 2013 at New Delhi. Efficient Water Management: Challenges and Opportunities was the theme of the five-day event. The Madrid System for the International Registration of Marks Madrid Protocoloffers trademark owners a cost effective, user friendly and streamlined means of protecting and managing their trademark portfolio internationally. Headquarters of World Intellectual Property Organization (WIPO) are located in Geneva, Switzerland. Senior India cricketer Sachin Tendulkar made his television debut in an animation series called Master Blasters in which he is seen mentoring young talents from across the world. Telematics is any integrated use of telecommunications and informatics, also known as ICT (Information and Communications Technology). The World Bank would lend between $3 billion to $5 billion annually to India under a new four-year plan that focuses development

flared into violence and frustrated NATOs hopes of cutting back a costly peace force that still numbers 6,000 soldiers. Turkey becomes SCO dialogue partner On 26 April 2013, NATOmember Turkey signed up to became a dialogue partner of the Shanghai Cooperation Organisation (SCO)a security bloc dominated by China and Russia. China, Russia and four Central Asian nations Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan formed the SCO in 2001 as a regional security bloc to fight threats posed by radical Islam and drug trafficking from neighbouring Afghanistan. Turkey has displayed interest in closer ties with the SCO at a time when it is upset by the slow progress of accession talks with the European Union. While China vies with Russia and the West for access to Central Asias vast natural resources, some analysts view the SCO as a potential counter-balance to NATO. Turkeys dialogue partner status, also granted to Sri Lanka and ex-Soviet State Belarus, is below that of observer status held by India, Pakistan, Mongolia, Iran and Afghanistan which

projects on the countrys poorest States. 60 percent of the financing will go to government-backed development projects and half of this, or 30 percent, will go to the countrys poorer States. Under the previous strategy, about 18 percent of lending went to these States. Tourism is the fourth largest export sector in the world, after fuels, chemicals and automotive products, generating over US$ 1 trillion a year in exports. It directly represents 5% of global GDP. In 2012, there were one billion international tourists. Credit of Indian banks grew by 17.0 percent during 2012-13, while deposits grew 17.4 percent, as per the data from the Reserve Bank of India. On 11 April 2013, more than 400 scientists, doctors and technical experts from 75 countries launched the Scientific Declaration on Polio Eradication. The declarations launch coincided with the 58th anniversary of the announcement of Jonas Salks revolutionary polio vaccine. The world is closer than ever to eradicating polio, with just 223 cases in five countries in 2012. To capitalize on this time-limited opportunity to end the disease, a wide range of experts have signed the declaration to emphasize the achievability of polio eradication and endorse the Eradication and Endgame Strategic Plan, a new strategy by the Global Polio Eradication Initiative (GPEI) to reach the end of polio by 2018. Gujarat government has signed a tripartite MoU with the Department of Telecommunications and Bharat Broadband Network Ltd to establish an optical fibre-based network that will provide broadband connectivity to all gram panchayats in the State. Under this project, all villages will be covered under the National Optical Fibre Network. Earlier, under the eGram Vishwagram Project, a total of 13,685 eGram centres were established in village panchayats. These were equipped with personal computers connected to the Internet via broadband through VSAT. The project helped provide e-services to rural citizens. MY World is a global survey for citizens, led by the United Nations and partners. It aims to capture peoples voices, priorities and views, so that global leaders can be informed as they begin the process of defining the new development agenda for the world. The Supreme Court has allowed translocation of some Asiatic lions from Gir National Park and Sanctuary and surrounding areas to Palpur Kuno Sanctuary in Madhya Pradesh, saying the species is under threat of extinction and needs a second home. India's first passenger train journey took place on 16 April 1853, between Bori Bunder in Mumbai and Thane. Covering a distance of 34 kilometers, it was hauled by three locomotives, Sahib, Sindh, and

participate in SCO meetings but have no right to vote. UN Approves Arms Treaty On 2 April 2013, the UN General Assembly overwhelmingly approved the first UN treaty regulating the multibilliondollar international arms trade, a goal sought for over a decade to try to keep illicit weapons out of the hands of terrorists, insurgent fighters and organized crime. The resolution adopting the landmark treaty was approved by a vote of 154 to 3 with 23 (including India) abstentions. The treaty will be open for signature from 3 June 2013, and will enter into force 90 days after the 50th signatory ratifies it. A group of treaty supporters sought a vote in the 193member world body after Iran, North Korea and Syria blocked its adoption by consensus at the end of a two-week final negotiating conference. The three countries voted no on the resolution, while Russia and China, both major arms exporters, abstained. Many countries, including the United States, control arms exports. But there has never been an international treaty regulating the estimated $60 billion global arms trade. The treaty will not control the domestic use of weapons

Sultan. India hosted the fourth Clean Energy Ministerial (CEM4) in New Delhi on 1718 April 2013. Energy Ministers and other high-level delegates from more than 20 of the worlds leading economies (Australia, Brazil, Canada, China, Denmark, the European Commission, Finland, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Norway, Russia, South Africa, Spain, Sweden, the United Arab Emirates, the United Kingdom, and the United States) collaborated to identify tangible steps that each government can take to generate more rapid progress toward CEMs overall goal accelerating the transition to a global clean energy economy. Ricin is a poison that is naturally found in castor beans, produced by the pervasive castor bean weed. It can be formed into a powder, mist or pellet, or even added to water. Castor beans are processed throughout the world to make castor oil. Ricin is the part of the waste mash produced when castor oil is made. Ricin is a highly toxic. A ricin dose as small as a few grains of table salt can kill an adult human if exposure is from injection or inhalation. Oral exposure to ricin is far less toxic. In April 2013, letters sent to US President Barack Obama and a Mississippi Senator had tested positive for being laced with ricin. There is no antidote for ricin poisoning. If you are exposed, you will need to get the ricin off of your body as quickly as possible. In April 2013, India airlifted a military hospital, with doctors, paramedics and equipment, to Tajikistan, as part of the deepening strategic partnership with the energy-rich central Asian country that shares borders with Afghanistan, China, Uzbekistan and Kyrgyzstan. The India-Tajik Friendship Hospital has been set-up in southern Tajikistan, to cater to both military and civilian population. Indias exports fell 1.76 percent to $300.6 billion in the fiscal year 2012-13, the first decline since 2009-10. The 2012-13 trade deficit was about $191 billion, up from $185 billion the year before. The Cabinet Committee on Economic Affairs (CCEA) has sanctioned a Rs 12,000 crore package for Bihar, under the Backward Regions Grant Fund. Bihar will get Rs 3,000 crore a year for four years. This is double the amount allocated to the state by the Planning Commission in 2012. The CCEA also cleared a package for Uttar Pradeshs backward region of Bundelkhand. The Center would give Rs 4,400 crore to the region over the next four years. A Rs 250 crore package has also been announced for the KBK circles of Odisha, which remains in the grip of abject poverty. Earth Day is celebrated on 22 April. The first Earth Day was celebrated on in 1970. The United Nations, in 2009, had officially designated 22 April as the international Earth Day. The day is celebrated annually to highlight green issues, with events organised

in any country, but it will require countries that ratify it to establish national regulations to control the transfer of conventional arms, parts and components and to regulate arms brokers. It covers battle tanks, armoured combat vehicles, large-caliber artillery systems, combat aircraft, attack helicopters, warships, missiles and missile launchers, and small arms and light weapons. A phrase stating that this list was at a minimum was dropped. Supporters complained that this limited the treaty's scope. The treaty prohibits States, which ratify it, from transferring conventional weapons if they violate arms embargoes or if they promote acts of genocide, crimes against humanity or war crimes. It also prohibits the export of conventional arms if they could be used in attacks on civilians or civilian buildings such as schools and hospitals. In considering whether to authorize the export of arms, the treaty says a country must evaluate whether the weapon would be used to violate international human rights or humanitarian laws or be used by terrorists or organized crime. They must also determine whether the weapons transfer would contribute to or undermine peace and security.

across the world to extend support for environmental protection. On 23 April 2013, Chris Gayle shattered the record for the fastest 100 in the IPL and the fastest 100 in T20 history with a six that flew out of the Chinnaswamy Stadium in Bangalore. It was carnage on a grand scale as Gayle raced to three figures in just 30 balls, having smashed 11 sixes, most of them straight and over long-on, and eight fours. The previous IPL record was owned by Yusuf Pathan, who had bludgeoned a 100 from just 37 balls back when he played for Rajasthan Royals. 25 April is observed as World Malaria day. In 2010, malaria caused 46,800 deaths in India, according to the Institute for Health Metrics and Evaluation (IHME) study. The United Nations Childrens Fund (UNICEF) claims that malaria kills one child every 30 seconds, which are about 3,000 children every day. A whopping 80.5 per cent of the 1.2 billion people in India currently live in malaria prone areas and its is unlikely that the country will meet the Millennium Development Goals (MDG) to combat malaria by 2015. A high contributing factor for rising malaria cases is emerging chloroquine-resistance especially in case of Plasmodium falciparum, according to experts. Malaria is a vector borne disease usually caused by four species of Plasmodium. As per the World Malaria Report 2012, South -East Asian region bears the second largest burden of malaria (13 percent), only being next to African region (81 percent). In the South-East Asia region, India shares two-thirds of the burden (66 percent) followed by Myanmar (18 percent) and Indonesia (10 percent) respectively. The National Malaria Eradication Programme was launched in 1958. Since 2005-06, the malaria prevention and control activities are being implemented as a part of National Vector Borne Disease Control Programme (NVBDCP) under overarching umbrella of the National Rural Health Mission (NRHM). The Heart of Asia ministerial conference on the Istanbul Process on regional security and cooperation, which considered ways and means for ensuring the stability of Afghanistan after the drawdown of NATO troops from the war-ravaged nation in 2014, was held in Kazakhstan on 26 April 2013. Indias gems and jewellery exports fell more than 9 percent to $39.03 billion in 2012-13, hurt by weak demand from the developed world, according to the Gems and Jewellery Export Promotion Council.

The treaty also requires parties to the treaty to take measures to prevent the diversion of conventional weapons to the illicit market. Ammunition was a key issue in negotiations, with some countries pressing for the same controls on ammunition sales as arms, but the US and others opposed such tough restrictions. The final text calls for each country that ratifies the treaty to establish regulations for the export of ammunition fired, launched or delivered by the weapons covered by the convention. India has rejected the global arms trade treaty (ATT) since the agreement is heavily loaded against weapons-importing countries like India, and let exporting nations like the US and China call the shots. India's inability to establish an indigenous defence production industry may now become a strategic vulnerability.

CURRENT AFFAIRS: MAY 2013 NATIONAL AFFAIRS Congress wins in Karnataka Assembly polls The results of the Karnataka Assembly elections were announced on 8 May 2013. The Congress swept the polls while the BJP was decimated. The JDS put up a decent performance while the Karnataka Janatha Paksha (KJP) of B.S. Yeddyurappa, who was expected to play the role of a kingmaker in the post-poll scenario, didnt make much of an impact apart from ensuring the BJPs downfall. The defeat makes the BJP a central, western and north Indian party yet again, with the only gateway to the south shut firmly for now. Congress has returned to power in Karnataka after a gap of seven years. Its tally touched 121, giving the party a simple majority in the 225-member Assembly. Both the BJP and JDS won 40 each. The KJP could win only 6 seats. K Siddaramaiah was elected as the new chief minister following the secret balloting route. Chinas Prime Ministers visit to India On 19 May 2013, nearly 27 years after he made his last trip to India, Chinese Premier Li Keqiang arrived in New Delhi on his first overseas official visit after assuming office in March. The visit was aimed at enhancing trust and understanding between the two neighbours. It also helped in exhibiting sensitivity to each others concerns. Taking stock of lessons learnt from the recent standoff in Ladakh after a Chinese incursion there, India and China decided on further measures for maintaining peace and tranquillity along their border. This was disclosed after discussions on mutual interest and concern between Prime Minister Manmohan Singh and his Chinese counterpart Li Keqiang. Addressing a joint press meet, the two leaders acknowledged their talks had been candid and frank. Noting that they took stock of lessons learnt from the recent incident in the Western Sector, when existing mechanisms proved their worth, Dr. Singh announced, We have tasked our Special Representatives to consider further measures that may be needed to maintain peace and tranquility along the border. We agreed that our Special Representatives will meet soon to continue discussions, seeking early agreement on a framework for a fair, reasonable and mutually acceptable boundary settlement. INTERNATIONAL AFFAIRS General Elections in Pakistan returns Nawaz Sharif to power Toppled in a 1999 coup, jailed and exiled, Nawaz Sharif made a triumphant election comeback on 11 May 2013, as Pakistans Prime Minister. The polls were a landmark, marking the first time one elected government was to replace another in a country vulnerable to military takeovers. Despite pre-poll violence and attacks that killed at least 25 people, millions turned out to vote. Nawaz Sharifs PML-N emerged as the single largest party, bagging 127 of the 272 Parliamentary seats, but fell short of a majority and would form a government with the support of the Independents and smaller parties. The PML-Ns two closest rivalsthe Pakistan Peoples Party and Imran Khans Pakistan Tehreek -eInsaflagged far behind with 31 and 26 seats, respectively. Another 70 seats, reserved for women and non-Muslims, will be allocated to parties according to their performance in the polls. To have a majority in the 342-member National Assembly, a party or coalition will need 172 seats. The Senate or the Upper House of Parliament is currently controlled by the PPP. However, the vote failed to realise the hopes of many that dynastic politics would end after years of misrule and corruption. Sharif, 63, a wealthy steel magnate from the pivotal Punjab province, held off a challenge from former cricket star Imran Khan who had hoped to break decades of dominance by Sharifs Pakistan Muslim League (PML-N) and the Pakistan Peoples Party (PPP), led by the Bhutto family. Sharif, who advocates free-market economics, is likely to pursue privatisation and deregulation to revive flagging growth. He has said Pakistan should stand on its own two feet but may need to seek another bailout from the International Monetary Fund to avoid a balance of payments crisis. Cricketing hero Khan in the end did not have the momentum needed to trip up Sharif despite his popularity among urban youths, many of whom were voting for the first time in an election that saw a robust turnout of 60 percent. They had rallied behind Khans calls for an end to graft and a halt to US drone strikes against suspected militants on Pakistani soil, widely seen as a violation of sovereignty. PPPwhich ruled the country for the last five yearsfaced a major setback and has been effectively confined to Sindh, as it was in 1997 when the party could secure less than 20 National Assembly seats. The party tried hard to restore its image in Punjab during the last five years but apparently its poor performance shattered its dreams. The PPP also promised to bifurcate Punjab, but even this slogan could not earn it votes. DO YOU KNOW India started putting into space third-party satellites for a fee in 1999 on its PSLV-C2 rocket. Since then India has been successful in launching medium-weight satellites for overseas agencies. Initially ISRO started carrying third-party satellites atop PSLV rockets as co-passengers of its own remote sensing/earth observation satellites. In 2007 ISRO for the first time launched an Italian satelliteAgileas a standalone. India has earned a revenue of $17.17 million and euro 32.28 million by launching 35 foreign satellites till May 2013. Raja Harishchandra, directed by Dadasaheb Phalke, was Indias first silent and full-length feature film. It was released on May 3, 1913. May 3 was designated as World Press Freedom Day or just World Press Day by United Nations in 1993, to raise awareness of the importance of freedom of the press and remind governments of their duty to respect and uphold the right to freedom of expression enshrined under Article 19 of the Universal Declaration of Human Rights, and to mark the anniversary of the Declaration of Windhoek, a statement of free press principles put together by African newspaper journalists in 1991. The global theme for 2013 is Safe to Speak: Securing Freedom of Expression in All Media which focuses on safety of journalists, the issue of impunity, and online safety. The Reserve Bank of India (RBI) cut the repo rate by 25 basis points on 3 May 2013, for the third time since January. RBI trimmed the repo rate to 7.25 percent, its lowest since May 2011,

On his part, Mr. Li, while admitting that there were some problems between the two countries, said, Both sides believe that, with regard to the boundary question, one that is leftover by history, the two sides have over time established the principles on this question. In the meantime, we have worked together to maintain tranquillity and peace on the border. In a written statement issued upon his arrival, Mr. Li extended sincere greetings and best wishes to the Indian government and the 1.2 billion Indian people on behalf of the Chinese government and the 1.3 billion Chinese people. He further said that cooperation between China and India means that the two great civilizations can learn from each other, the two major markets complement each other, the two major emerging economies fulfill common development, and the two neighbouring countries achieve mutual benefit and winwin results. Though it did not give New Delhi a satisfactory explanation on the PLAs incursion in the Daulat Beg Oldie (DBO) Sector in May 2013, China indicated to India its readiness to revisit the 2005 agreement on political parameters and guiding principles so as to arrive at a package settlement of the lingering boundary dispute. At the delegation-level talks between Prime Minister Manmohan Singh and Chinese Premier Li Keqiang, China also acceded to New Delhis demand that it shared with India information on water level, discharge and rainfall in respect of three hydrological stations on the mainstream Brahmaputra River. An agreement on hydrological data sharing was among the eight documents signed between the two countries. Among the pacts signed were for: (i) Setting up three working groups on services trade promotion, economic and trade planning, and trade statistical analysis under the Joint Economic Group; (ii) Upgrade of existing facilities for the Kailash Mansarovar pilgrimage by China; (iii) Provision of information by China on water level, discharge and rainfall from its three hydroelectric projects upstream Brahmaputra; (iv) Enhancing bilateral cooperation in the field of water efficient technology; (v) Strengthening mutual cooperation in trade and safety of buffalo meat, fish products; (vi) Cooperation in the field of sewage treatment; (vii) Coordinating translation and publication of 25 books over a period of five years into Chinese and Indian languages; (viii) Facilitating cooperation and linkages between cities and provinces of the two countries.

and kept the Cash Reserve Ratio (CRR) for banks unchanged at 4 percent. The first national Surfing and Stand Up Paddle (SUP) competition was held in May 2013 at Kovalam beach near Thiruvananthapuram, Kerala. Boeing Companys X-51A Waverider made history in first week of May 2013 when it achieved the longest hypersonic flight by a jet-fuel powered aircraft, flying for 3-1/2 minutes at five times the speed of sound. The last of four unmanned experimental military aircraft built by Boeing flew at a top speed of Mach 5.1 over the Pacific Ocean on 1 May. The total flight covered 230 nautical miles in just over six minutes before the hypersonic cruiser plunged into the ocean. The technology opens the door to future practical uses for hypersonic jet-fuelled aircraft. According to the Primary Census Abstract 2011, Bihar has a population density of 1,106 people per sq km, while West Bengal is in second place with 1,028. (Bihar has thus also displaced the latter for the top spot, as its density in 2001 was 881, second to West Bengals 903). This makes both the States more populous than even a sizeable country such as neighbouring Bangladesh (964). Indias population density is 382. According to a report India has the highest number of newborns dying on their first day of life. 309,000 children die within 24 hours of their birth in India every year. The main causes of death are severe infections, low birth weights and asphyxia. India has 33 percent of the worlds poorest 1.2 billion people, even though the countrys poverty rate is half as high as it was three decades ago, according to a new World Bank report. India reduced the number of its poor from 429 million in 1981 to 400 million in 2010, and the extreme poverty rate dropped from 60 percent of the population to 33 percent during the same period. Despite the good news, India accounts for a higher proportion of the worlds poor than it used to. In 1981, it was home to 22 percent of the worlds poorest people. The concept of Curative petition was evolved by the Supreme Court of India in the matter of Rupa Ashok Hurra vs. Ashok Hurra and Anr. (2002) where the question was whether an aggrieved person is entitled to any relief against the final judgement/order of the Supreme Court, after dismissal of a review petition. The Supreme Court in the said case held that in order to prevent abuse of its process and to cure gross miscarriage of justice, it may reconsider its judgements in exercise of its inherent powers. For this purpose the Court has devised what has been termed as a curative petition. In the Curative petition, the petitioner is required to aver specifically that the grounds mentioned therein had been taken in the review petition filed earlier and that it was dismissed by circulation. This has to be certified by a senior advocate. The Curative petition is then circulated to the three senior most judges and the judges who delivered the impugned judgement, if available. No time limit is given for filing the petition. India has joined Russia in having a state-of-the-art manned chamber welding shop, offering both robotic and human welding, which was inaugurated at facilities of the Hindustan Aeronautics Limited in Odisha. The Indian equipment has been developed indigenously by HAL with help of other vendors. India and Russia are the only two countries having this facility. The Indian MCW system at HAL is unique as it offers both robotic and human (manual) welding in argon atmosphere while the Russian welding is carried out only manually. 2013 has been declared as Water Conservation Year by the Union government to battle the deepening water conflicts and water tables. India has more than 18 per cent of the worlds population, but only 4 per cent of the worlds renewable water resources with 2.4 per cent of the worlds land area. There are further limits on utilisable quantities of water owing to uneven distribution over time, as 75 per cent annual rainfall is received in just four months. Also, region wise it varies from 10 cm rainfall in Rajasthan to 1,000 cm in the North Eastern Region. World Migratory Bird Day is celebrated each year in over 65 countries on 11 and 12 May. Initiated in 2006, the Day is an annual campaign organized by the Convention on the Conservation of Migratory Species of Wild Animals (CMS) and the African-Eurasian Migratory Waterbird Agreement (AEWA)two intergovernmental wildlife treaties administered by the UN Environment Programme (UNEP), which also backs the campaignand devoted to celebrating migratory birds and promoting their conservation worldwide. 19 per cent of the worlds 10,000 bird species migrate annually around the globe. International Day of Families is celebrated on 15 May. The year 1994 was proclaimed as the International Year of Families by the United Nations. The International Day of Families on 15 May is an occasion to reflect on the work started during 1994 and to celebrate the importance of families, people, societies and cultures around the world. It has been held every year since 1995.

India and China also committed themselves to realising the bilateral trade target of $100 bn by 2015 as Beijing agreed to address New Delhis concern over the yawning trade gap. Assuring India of Beijings commitment to address the issue of trade imbalance, the Chinese Premier pitched for a regional trade accord between the two countries. On last leg of his three-day sojourn in India Prime Minister Li Keqiang visited the Tata Consultancy Services global development centre in suburban Goregaon, Mumbai. Tata Group chairman Cyrus P. Mistry hosted Li and his delegation. The visiting leader was given an overview of the groups operations in China. India-China sign a new protocol to enhance cooperation On 9 May 2013, India and China signed a new protocol to enhance cooperation between their foreign ministries while working on a mechanism to step up coordination for providing timely information to the media. The protocol was signed by External Affairs Minister Salman Khurshid and his Chinese counterpart Wang Yi. It is essentially up gradation of a similar protocol signed in 2006 in which the two countries listed various new dialogue mechanisms taking place between them. The new protocol lists the new dialogues that have come up between the two countries. Separately, the two countries are discussing to work out a new coordination mechanism between spokespersons of the two foreign ministries to provide information to the media in a timely manner. In their wide ranging talks, the two ministers discussed a host of issues including addressing Indias concerns over trade imbalance with China. As gesture of goodwill, China has permitted two Indian traders Shaymasunder Agrawal and Deepak Raheja, who were held for about two years on grounds of cheating Chinese traders in Yiwu city, to go home. Also, China said it would sympathetically look into the case of six diamond traders held in the country. The two sides also discussed Iran, Syria, ASEAN at considerable length. Vice President Ansaris visit to Uzbekistan Vice-President M. Hamid Ansaris visited the Central Asian country Uzbekistan on May 21, 2013. The visit was aimed at cementing ties between the two countries at a time when Western forces led by the US are in the process of a draw-down from the neighbouring war-torn Afghanistan. This was the first visit by any Vice President of India to Uzbekistan.

Rotavac is the first completely indigenous and affordable vaccine to prevent severe rotavirus diarrhoea, which kills over 1 lakh children under five in India every year. The vaccine was developed through a social innovation partnership that brought together the experience and expertise of Indian and international researchers, as well as the public and private sectors. The vaccine originated from an attenuated (weakened) strain of rotavirus that was isolated from an Indian child at AIIMS in 1985-86. Since then, partners have included DBT, Bharat Biotech, the US National Institutes of Health (NIH), the US Centres for Disease Control and Prevention (CDC), Stanford University School of Medicine, and non-governmental organisation PATH. Priced at approximately Rs 55 a dose, the oral vaccine is much cheaper than other rotavirus vaccines available in the market In a boost to Indias bid for a strong foothold in the resource-rich Arctic region, the Arctic Council has expanded to include six new nations, including India, as observer States. China, Italy, Japan, Republic of Korea and Singapore are the other observers to the body of eight Arctic nationsCanada, Denmark, Finland, Iceland, Norway, Russia, Sweden and the United States. With the Arctic ice melting, the regions abundant oil, gas and minerals deposits have become accessible and have shortened the shipping routes, setting off a global race for influence and economic opportunities far beyond the nations that border the Arctic. The Arctic Council was set up in the 1990s and up till now has been mainly concerned with environmental matters. May 17 is observed as World Hypertension Day. The theme for 2013 World Hypertension day is Healthy Heart Beat-Healthy Blood Pressure. The United Nations has proclaimed 22 May as the International Day for Biological Diversity (IDB) to increase understanding and awareness of biodiversity issues. When first created by the Second Committee of the UN General Assembly in late 1993, 29 December (the date of entry into force of the Convention of Biological Diversity) was designated The International Day for Biological Diversity. In December 2000, the UN General Assembly adopted 22 May as IDB, to commemorate the adoption of the text of the Convention on 22 May 1992, by the Nairobi Final Act of the Conference for the Adoption of the Agreed Text of the Convention on Biological Diversity. Water and Biodiversity is the theme for 2013. Inflation-indexed bonds (also known as inflation-linked bonds or colloquially as linkers) are bonds where the principal is indexed to inflation. They are designed to cut out the inflation risk of an investment. Inflation-indexed bonds pay a periodic coupon that is equal to the product of the inflation index and the nominal coupon rate. The relationship between coupon payments, breakeven inflation and real interest rates is given by the Fisher equation. A rise in coupon payments is a result of an increase in inflation expectations, real rates, or both. The first known inflation-indexed bond was issued by the Massachusetts Bay Company, USA, in 1780. The market has grown dramatically since the British government began issuing inflation-linked Gilts in 1981. In May 2013, India joined the small but growing club of nations whose governments issue inflation-indexed debt. Finance Minister P. Chidambaram decided to offer these bonds to the Indian investors in the hope to wean them off their addiction to gold. These bonds are, however, double-edged swords. While they can enhance the credibility of the governments commitment to low inflation, the borrowing costs can go really high if prices spiral out of control after selling inflation-protected securities. Central government has agreed to pay 450 billion rupees for the March 2013 quarter to Stateowned fuel retailers as compensation for selling products at cheaper government-set rates. The three State-owned retailers are estimated to have run up total revenue losses of 1.6 trillion rupees in the fiscal year 2012-13. Of this, the Finance Ministry will pay about 1 trillion rupees by way of cash subsidies while the balance will be borne by State-run upstream companiesOil and Natural Gas Corporation, Oil India Ltd and GAIL (India)in the form of discounts on sale of crude oil and associated products. The 50th anniversary celebrations of the OAU, or the African Union now, were held in Addis Ababa, Ethiopia, on 25 May 2013. Vice-President Hamid Ansari represented India at the celebrations. Lakulish Yoga University, established by Life Mission Trust of Gujarat, is claimed to be the first private sector self-financed yoga institution in India. It was inaugurated on 23 May 2013 by Mr Narendra Modi, Chief Minister of Gujarat. The university will award degrees for the three-year courses. The Gujarat government had earlier enacted a law for creation of a Yoga university in the State. Quadricycle has received a go-ahead from government of India. Quadricycle is a four-wheel vehicle with a small engine, to be positioned between a three-wheeler and a passenger car, which does not meet the same safety and emission norms of regular passenger cars and have their own set of regulations. So far, only Europe has a quadricycle segment with the Renault Twizy being

Both India and Uzbekistan are plagued by terrorism emanating from their neighbourhood. Uzbekistan has been a victim of terror attacks blamed on Islamic extremists based in Afghanistan. Essentially, it was termed as a goodwill visit to a nation with which India has relations since 14th century. The ties are also testified by the history of the Silk Route, where Samarkand and Bukhara played an extraordinary role in promoting trade and travel. India and Uzbekistan also resolved to work jointly for peace and development in Afghanistan. The two countries said any external interference in Afghanistan would be counter-productive and if any such eventuality arose, they would resist it by taking up the matter at various international forums. Indian exports to Uzbekistan have seen a rise from $79.9 million in 2008 to $163.4 million in 2012. Imports to India from Uzbekistan too have risen from $11.1 million in 2008 to $37.82 million in 2012. Prime Minister Manmohan Singh visits Japan On 27 May 2013, a week after hosting the Chinese premier, Prime Minister Manmohan Singh left for a three-day visit to Japan to deepen strategic and economic ties with Shinzo Abes administration. The trip, planned for December but postponed as Japan held snap elections, had a strong emphasis on strategic cooperation, besides energy and economic ties. While economic ties have been the main anchor for India-Japan relationswith bigticket Japanese investments in projects like the Delhi Metro, the Delhi Mumbai Industrial Corridor and the Dedicated Freight Corridorboth nations have been looking at adding strategic content to the relations. Both countries held their first bilateral naval exercises off the coast of Japan in June 2012. Mr Manmohan Singh held exhaustive talks with his Japanese counterpart Shinzo Abe on the entire gamut of bilateral ties, with special focus on giving boost to cooperation in defence, economic, energy and other areas. Addressing the Japan-India Association, the Japan-India Parliamentary Friendship League and the International Friendship Exchange Council, Prime Minster Singh said: India and Japan are among the major actors in the India-Pacific region and it is the responsibility of both countries to foster a climate of peace, stability and cooperation and to lay an enduring foundation for security and prosperity. Both nations should strengthen regional

one example. With this approval, Bajaj Autos can go ahead with production and selling of its RE60 quadricycle. The government has, however, restricted their use and registration only as a transport (commercial) vehicle carrying both passenger and goods within city limits and rural areas. This means these vehicles cannot be run on highways or for personal use. World No Tobacco Day is observed around the world every year on May 31. England has been confirmed as the host country for the 2019 Cricket World Cup. A four-ship flotilla of Indian Navy, led by Stealth Frigate INS Satpura, left the Indian shores on 20 May 2013, as part of the operational overseas deployment. The other ships were: Rajput class destroyer INS Ranvijay, a Kora class Corvette INSKirch and fleet tanker INS Shaktilast one carrying supplies. The ships first undertook an exercise with the Singapore Navy, just south-east of the Strait of Malacca, one of the busiest shipping choke points in the world. Following the exercise the flotilla made its first port of call at Kelang in Malaysia, followed by De Nang in Vietnam and Manila in the Philippines. This was second year running that four Indian navy ships had gone to the east on such deployment. An Oxford University has set a new graduate studies centre, the Indira Gandhi Centre for Sustainable Development. It has attracted a contribution of Rs 25 crore from the government of India, which has been matched by a similar sum from Oxford. This contribution will help fund scholarships for postgraduate students from India to study at the centre. The Reserve Bank of India has said that from April 2015 banks will no longer have the leeway to relax repayment norms for troubled companies without classifying their loans as non-performing assets, which would lead to a surge in bad loans. To prepare for this eventuality, RBI has increased provision from 2.75% to 5% in respect of new restructured standard accounts with effect from 1 June 2013. Provisions on the existing stock of restructured loans will be increased gradually from 2.75% to 5% by 2015. Also, RBI has made it mandatory for banks to obtain a personal guarantee of promoters on all restructuring cases in future. The Union government was able to rein in the fiscal deficit at 4.9 per cent of gross domestic product (GDP) in 2012-13, against 5.2 per cent pegged in the revised estimate (RE) and 5.1 per cent projected in the Budget estimate. The fiscal deficit stood at Rs 4.90 lakh crore in 2012-13, six per cent lower than the RE of Rs 5.21 lakh crore. The revenues stood at Rs 9.19 lakh crore, 1.1 per cent higher than Rs 9.09 lakh crore estimated in the RE. Expenditure was 1.5 per cent lower at Rs 14.31 lakh crore, against Rs 1.41 lakh crore pegged in the RE. Tax collections stood at Rs 7.41 lakh crore. Indian Air Force has inducted Swiss-produced basic trainer aircraft, the Pilatus PC-7 Mark-II, for basic training of all IAF pilots, in addition to those of the Indian Navy and the Coast Guard. Until recently, this role was performed by the ageing workhorse HJT-16 Kiran aircraft. According to the Central Statistical Organization (CSO) Indias economy grew by 5% in 201213, compared to 6.2% expansion in the previous year.

mechanisms and forums that would help develop habits of consultation and cooperation, enable them to evolve commonly accepted principles for managing differences, reinforce congruence in the region and allow both to address common challenges. Japan pledged to jointly work with India to make it a full member of international export control regimes like NSG and accelerate negotiations for early conclusion of a civil nuclear cooperation agreement. A joint statement issued at the end of exhaustive talks between Prime Minister Manmohan Singh and his Japanese counterpart Shinzo Abe said both sides expressed their commitment to continue to work to prepare the ground for India to become a full member in the international export control regimes. These included the Nuclear Suppliers Group, the Missile Technology Control Regime, the Australia Group and the Wassenaar Agreement. On his part, Prime Minister Singh reiterated Indias commitment to its unilateral and voluntary moratorium on nuclear explosive testing. The two countries also agreed to form a joint working group to set up the sale of the first platform with defence uses out of Japanthe US2 amphibious aircraft. The JWG will also examine the possibilities of co-production of these aircraft in India, which would make it the symbol of Japans entry into the defence market after decades of a self-imposed ban on such exports. The two sides also signed the Exchange of Notes for yen loan totalling USD 424 billion. This includes USD 71 billion for the Mumbai Metro Line-lll project as well as the yen loan of the fiscal year 2012 for USD 353.106 billion for eight projects. Visit of Prime Minister Manmohan Singh to Thailand Prime Minister Manmohan Singh visited Thailand on 30 May 2013, on a bilateral visit. In a major boost to bilateral security cooperation, India and Thailand signed the much-awaited extradition treaty after 20 years of intense negotiations, with New Delhi eyeing to bring back a key aide of underworld don Dawood Ibrahim. The two countries also firmed up a pact to effectively deal with money laundering, terror financing and ratified a treaty on the Transfer of Sentenced Persons, enabling both sides to swap prisoners after they have served a portion of their prison terms. Seven other agreements, including cooperation in space technology and education were signed after wide ranging

talks between Prime Minister Manmohan Singh and his Thai counterpart Yingluck Shinawatra. Thailand has long been a refuge for underworld dons and outlawed groups. Naga insurgent outfit National Socialist Council of Nagalim (Isak-Muivah) maintained an office at Chiang Mai. ULFA leaders and other north-eastern insurgent outfits have also been known to use Thailand as a safe haven. India and Thailand also talked about new areas of cooperation, particularly those related to economics, trade and investment. India is Thailands most important ally in South Asia and a large market with total trade value of 8.67 billion US dollars in 2012. The Thai Premier invited the Indian leader to consider becoming a partner in the investment in the Dawei Special Zone in Myanmar, while India extended an invitation to the Thai business sector to invest in transport, processed food and energy industries.

Business News Bharti Airtel has decided to sell a 5% stake to the Gulf State Qatar for Rs 6,800 crore, in a deal which would provide the telecom firm with much-needed capital to strengthen its balance sheet and future growth. The deal has been channelled through Qatar Foundation Endowment (QFE), an investment vehicle of the Qatar Foundation, controlled by Sheikha Mozah, the wife of the countrys emir. In a major boost to the Indias first telecom incubator Startup Village, market regulator SEBI has approved the Startup Village angel fund of $10 million that could go up to $20 million with a Green Shoe (over-allotment) option. The approval would address the problem of resource crunch for startup companies across the country. The focus area of the fund will be Telecom/Internet, and it would start investing once the initial close of $2 million is achieved.

India-born Ivan Menezes has been named as the next CEO of Diageo, the worlds biggest producer of alcoholic drinks and maker of popular brands like Johnnie Walker. Besides Johnnie Walker and Smirnoff, Diageos brands include Crown Royal, JeB, Buchanans, Windsor and Bushmills whiskies, Ciroc and Ketel One vodkas, Baileys, Captain Morgan, Jose Cuervo, Tanqueray and Guinness. Diageo entered the Indian made foreign liquor segment with the launch of Rowsons Reserve, a premium IMFL whisky. Maritime Energy Heli Air Services (MEHAIR), a private operator, has received clearances from the Navy, police and the aviation ministry to begin sea plane services in Mumbai. Sea plane services will connect Juhu in suburban Mumbai to Nariman Point with the distance being covered in a few minutes. The fare would be pegged at Rs 750 per head. The capital expenditure target for investments by 23 major public sector undertakings for 2013-14 has been set at about Rs 1.42 lakh crore. The capex plans include those of ONGC, Oil India, GAIL, Indian Oil, MRPL, SAIL, NMDC, Powergrid, NHPC, NTPC, Coal India, Neyveli Lignite, Concor, Nalco, BHEL, BEL, MOIL, Rashtriya Ispat Nigam, Satluj Jal Vikas Nigam, Bharat Dynamics, HAL, Mazagaon Docks and Nuclear Power Corp. The seven new companies added are Manganese Ore India, RINL, SJVN, Bharat Dynamics, HAL, Mazagaon Docks and Nuclear Power. Mittu Chandilya, Singaporebased management consultant, he has been appointed as first CEO of AirAsia India, a JV between Malaysian low

cost carrier AirAsia and Tata Sons. Eureka Forbes, a Shapoorji Pallonji Group company, has acquired Lux International, a Switzerland-based home appliance firm with a 100year history, marking the groups first overseas acquisition. The move came within a short period of the construction conglomerate seeing a leadership change with Shapoor Mistry becoming the Chairman. Google Inc has launched a music service, All Access that allows users to listen to unlimited songs for $9.99 a month, challenging smaller companies like Pandoraand Spotify in the market for streaming music. Google has adopted the streaming music business model ahead of rival Apple Inc, which pioneered online music purchases with iTunes. All Access service lets users customize song selections from 22 genres, ranging from Jazz to Indie music, stream individual playlists, or listen to a curated, radiolike stream that can be tweaked. It has been launched for US users first, before being rolled out to several other countries. Mumbai-born Vivek Ranadive, a Silicon Valley tycoon who founded the $4 billion Tibco software company, paid $347 million for a 65 percent stake in the American basketball franchise Sacramento Kings, in a royal battle that pitted him against Microsofts Steve Ballmer and company. Ranadives group includes former Facebook Inc. executive Chris Kelly and 24-Hour Fitness founder Mark Mastrov. Yahoo Incs board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash. SBI Mutual Fund (SBIMF)

has entered into a strategic alliance with the National Institute of Securities Markets (NISM) for conducting mutual fund distributors certification examination at select learning centres of the State Bank of India and its associate banks. State-run Saudi Aramco has awarded Larsen & Toubro (L&T) a contract to build facilities, including a gas processing plant, for its Midyan gas field. The worlds top oil exporter is boosting its output of the natural gas needed to meet rapidly rising domestic power demand and supply raw materials to its strategically important petrochemical industry. L&T will build a plant with a processing capacity of 75 million standard cubic feet per day (scfd) of nonassociated gas and 4,500 barrels of condensate per day. The Qatar National Bank (QNB) Group has received all regulatory approvals to establish a fully owned subsidiary in India, under the name of QNB (India) Private Limited. Reliance Industries Limited (RIL) has bagged a strategic military aviation tie-up with the leading US aerospace company, Boeing, in the field of offsets. That means Boeing will be sourcing 30% of its components worth hundreds of crores of rupees from the RIL. The Dentsu India Group, a 100% subsidiary of Tokyoheadquartered media giant Dentsu Inc., has acquired 80% stake in Indian digital agency Webchutney. Network18 Media & Investments Limited (Network18) has sold its stake to Dentsu. This is the second big acquisition by Dentsu in India. In August 2012, it had acquired 51% stake in Taproot India. Webchutney was founded by Sidharth Rao and

Sudesh Samaria in 1999. It offers services spanning web design, social media, mobile and experiential digital advertising. FMCG major Nestle India has appointed Etienne Benet as the Managing Director (MD) of the company with effect from 1 October 2013, replacing Antonio Helio Waszyk. In a top-level reshuffle at Britannia, one of Indias leading food companies, managing director Vinita Bali will now focus on international markets, while chief operating officer Varun Berry would lead India operations. The move is expected to help scale up Britannias international presence and transition the company to an allembracing food company from a bakery/dairy company. Tata Consultancy Services (TCS) has bagged a sixyear contract from the Department of Posts worth over Rs. 1,100 crore. The end-to-end IT modernization programme to be implemented by TCS will equip India Post with modern technologies and systems to enable it to provide services to customers in an effective manner. The scope of the project, dubbed India Post 2012, includes developing and supporting mail, finance and accounts, HR, and customer interaction management solutions for all channels including Rural ICT platform. Infosys has re-appointed N.R. Narayana Murthy as Executive Chairman and Additional Director with immediate effect. Veteran banker K.V. Kamath would step down as Chairman of the Board and take up the role of Lead Independent Director.