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CSB,Ch-17, Ph: 044-24333346 GA/June12/Page-1

CURRENT AFFAIRS

JUNE2013

Reserve Bank of India

Reserve Bank of Indiahas decided to float Inflation-Indexed Bonds, which are aimed at weaninginvestors from investing in gold and real estate and channeling public savings into financial

instruments.

These bonds will have a fixed real interest rate and a nominal principal value that is adjustedagainst inflation. Some of the important features of these bonds are followings: Each retail investor can invest from Rs.10,000 to Rs.2 crore in the primary issuances of IIBs that

will have tenure of 10 years. Investment can be made through banks and primary dealers (financial intermediaries that buy

government securities directly from RBIs auctions and resell them. PDs act as a market maker ingovernment securities.

In the initial series of IIBs, 20% will be reserved for retail investors under the non-competitivebidding.

First such tranche will be issued on June 4, 2013 and the same would be issued regularly throughauctions on the last Tuesday of each subsequent month during 2013-14.

The second series of IIBs, exclusively for retail investors, will be issued in second half of thefinancial year.

Each tranche of IIBs will be for Rs.1,000-2000 crore and total issuance would be for Rs.12,000-15,000 crore in 2013-14.

IIBs will be part of the overall government borrowing programme of Rs.5.79 lakh crore for 2013-14.

Interest payments on those bonds will be at half yearly intervals. Initially WPI based inflation will be used for providing inflation protection on IIBs. Finally, the

protection will be provided through CPI based inflation. FIIs will be allowed to buy IIBs within the existing limit of US $25 billion set for them for

investing in government bonds. IIBs will be considered as eligible securities for meeting the SLR requirement by banks. There will be no special tax sops for investments in IIBs.

TheReserve Bank of India(RBI) directed banks to follow the Clean Note Policy strictly and issueclean currency notes to public on May 14, 2013. The RBI issued a notification that also asked thebanks to do away the process of stapling the currency notes and to secure the note packets withpaper bands.

In its notification to the banks, the RBI also directed to sort notes into re-issuable and non-issuable notes and to withdraw soiled notes from circulation in the market. Banks have also beenasked to stop window of bank notes as it disfigures the watermark impression and recognitionbecomes difficult.

RBI Proposes New Electronic Bill Payment System A committee set up by the Reserve Bank ofIndia (RBI) headed by Executive Director of RBI G. Padmanabhanhas proposed a new electronicbill payment system based on Giro model for payment of dues of essential services, insurancepremium, taxes, utility and education fees. This model will enable the setting up of a centralisedinfrastructure bringing all the billers and banks to the bill platform through the aggregators.

It will also allow interoperability in the bill payment process and enable the consumers to makepayments at any of the collection points which is the essence of Giro system.

The committee observed that in the Indian context, where cash continues to the predominantmode of payment, Giro could include any third party payment made through any paymentmode viz. cash, cheque, credit/debit cards, prepaid payment instruments, etc. resulting in the

transfer of funds to the bank account of a beneficiary. It has proposed that a system christened India Bill Payment System(IBPS) may be designed and

implemented in the country. The participants in the IBPS would include billers,

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intermediaries/aggregators, banks, collection agencies operating the IBPS points and the IBPSpoints.

Giro payment is a credit push transaction initiated by the payer and may involve thepresence of three banks (collecting bank, payer bank and the payee bank).

Restrictions on Gold Import by Banks The RBI imposed restrictions on gold import by banks inorder to moderate the demand of gold for domestic use on May 12, 2013. The RBI decided to restrict

the import of gold on consignment basis by banks, only to meet the genuine needs of exporters ofgold jewellery. The RBI stated that the decision is based on the recommendations of the WorkingGroup on Gold that had suggested aligning gold import regulations with the rest of the imports forcreating a level playing field between gold imports and other imports. The restrictions have comeinto effect immediately.

Other Banks

State Bank of Patialaopened the first of its all ladies branch at Bhatinda, one of biggest businesscentres of the Malwa region of Punjab on May 4, 2013.

The Asian Development Bank (ADB) will maintain its annual lending at $ 10 billion (Rs.54,000crore) over the next three years while looking at all options to overcome resource challenges. A fifthof this, or about $ 2 billion, will be earmarked for every year for the next three years.

The announcement was made at the close of the multilateral lenders 46 th annual meeting inGreater Noida. India is the biggest borrower of the Manila-based multilateral lender that hadextended $ 2.4 billion loan to the country in 2012 across sectors like transport, energy, commerce,industry, trade and finance.

By the end of 2012, both the United States and Japan hold the two largest proportions of shareseach at 12.78%. China holds 5.45%, India holds 5.36%.

TheWorld Bankon May 7, 2013 announced that it will provide grant of 100 million US dollars toAfghanistanfor expansion of the basic health and essential hospital services in the country.

High Courts and Sessions Courts The High Court of Delhidirected the Union government of India on April 24, 2013 to respond on a

plea that questioned how children below the age of 18 were allowed to open an account on socialnetworking sites like Facebook and others.

Central Government

The Delhi government decided to hike auto fares by 25% in the national capital. The Cabinet Committee on Economic Affairs (CCEA) cleared the government proposal to set up an

exchange traded fund backed by a basket of PSU stocks, commonly referred to as CPSEETF.

Creamy Layer: Cabinet Raises Income Limit Revising the criteria for applying creamy layercriteria for other backward classes (OBCs), the Union Cabinet on May 16, 2013 raised the incomelimit to Rs.6 lakh per annum from the existing Rs.4.5 lakh per annum that will allow more personsto take advantage of reservation benefits for OBCs in government jobs and admission to CentralEducational Institutions.

The decision means that only those OBC families earning over Rs.6 lakh annually will be out ofthe purview of reservation benefits the increase Rs.1.5 lakh being done to adjust against rise inconsumer price index. The decision, however, does not match the recommendation of theNational Commission for OBCs which proposed a dual ceiling of Rs.12 lakh per annum forurban areas and Rs.9 lakh for rural areas.

The Union Cabinet gave approval for setting up Rashtriya Smriti to perform the last rites of thedeparted national leaders. Separate memorials for the national leaders were created near theRajghat which consumed a lot of space.

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Cabinet Nod for National Skill Development Agency- In an effort to give a single-point focus toskill development initiative, the government on May 9, 2013 cleared a proposal to set up a NationalSkill Development Agency(NSDA) subsuming other bodies engaged in this initiative.

The Union Cabinet gave its nod to NSDA replacing the Prime Ministers National Council onSkill Development (PM-NCSD), the National Skill Development Coordination Board (NSDCB)and the office of the Adviser to the PM on Skill development. According to a government

statement the Agency will be located in the ministry of finance. The new skill body will coordinate and harmonise the skill development efforts of the

government and the private sector to achieve the targets of the 12thplan and beyond.

The Central Ministers and NSDC will continue to implement schemes in their remit, thestatement said. The NSDA is expected to provide the much-needed single point focus to ensurethat skilling quality and standards meet sector-specific requirements benchmarked tointernational standards. Such an initiative will boost employability of youth in India, thestatement said.

The Union government of India approved the policy development of aviation hubsin India on May9, 2013. Information and Broadcasting Minister Manish Tewari announced that the Inter-MinisterialCommittee will be developed that will workout on different models for this policy. The formation ofthe hubs would require establishment of various facilities such as foreign exchange, immigration,provisions for visa-on-arrival as well as customs. For this various ministries will be involved and,therefore, the Inter-Ministerial Committee will be developed. This committee would facilitateestablishment of various aviation hubs in different major cities.

The aviation hub is basically an airport that is used as intermediate point for transferring airtravelers from original destination to final destination of their journey. This is also technicallycalled hub-and-spoke operation.

States

JHARKHAND Police has started a new operation named Jaal in bendi forest of Latehar(Jharkhand) against naxals on 7thMay, 2013.

Imparting Technical Training to Unemployed Youth The government of Jharkhand decidedto impact technical skill development training to all unemployed youths of the naxal affectedareas on May, 2013. This governments decision has come in the wake of recent success of onesuch project in Chaibasa where the unemployed youths of erstwhile naxal affected areas ofSaranda were trained in a special institute Gurukul.

Sarayuis one such naxal affected area of Jharkhand and presently, a special development plancalled Saryu Development Plan, is being carried out there. The areas of Latehar and Palamuoften faces acute water crisis.

WEST BENGAL Chief Minister Mamata Banerjee announced the official ban online lotterlyOnline lotto. It was started during the Left Front rule.

TAMIL NADU The Tamil Nadu government has banned the production, possession, distributionand sale of tobacco productssuch as pan masala and gutka in the State.

The Tamil Nadu Government in the month of May 2013 decided to implement a Rs.1481 croreCoastal Disaster Risk Reduction Project with financial assistance from the World Bank. TheGovernment also has decided to make underground electric line in the Coastals district ofCuddalore and Nagapattinam to reduce loss during natural disasters. As per the Tamil Nadugovernment, the work would be started by the end of year and is supposed to be completed inthe next five years.

MADHYA PRADESH Madhya Pradesh government in the month of May 2013 has hiked thedearness allowance of Employees by eight per which would be effective from January 1, 2013.

United Nations Public Service Award Cottage and Village Industry Department of theMadhya Pradesh Government bagged United Nations Public Service Award for year 2013 fortheir initiative named Graamin Haaton May 16, 2013.

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The Union Cabinet of India approved the establishment of the Gandhi Heritage Sites Mission. Theobjective behind this approval is to conserve and restore the heritage sites associated with theMahatma Gandhi, the Father of the Nation.

Oklahoma City (US) - 91 people, including 20 children were killed because of huge tornado thatwent through Oklahoma Citysuburbs in US on May 20, 2013. The worst affected area was Moore,situated towards the south of Oklahoma. Tornadoes, high winds as well as hail storms hit Kansas as

well.

Maryland, a state, located in the Mid-Atlantic region of the United States, on May 2, 2013 becamethe first southern state to abolish the death penalty. The person who was attended was formerMaryland death row inmate Kirk Bloodsworth. He will be the first person in the country freed fromdeath penalty because of DNA evidence after being convicted in a death penalty case.

Rajasthan Forts Nominated for UNESCOs World Heritage Site List Six hill forts of Rajasthanhave been nominated for UNESCOs World Heritage list on May 9, 2013. The International Councilin Monuments and Sites (ICOMOS), which evaluates cultural properties for UNESCO,recommended the inclusion of the following forts in the UNESCO List:

1. Chittorgarh Fort (Chittorgarh) 4. Kumbhalgarh Fort (Rajsamand)

2. Ranthambhore Fort (Sawai Madhopur) 5. Jaisalmer Fort (Jaisalmer)3. Amber Fort (Jaipur) 6. Gagron Fort (Jhalawar)

There are 29 world heritage sites in India (23 in the cultural category and 6 in the natural category).

Personalities

Arunima Sinha, became the first Indian amputeeto conquer Mount Everst on May 21, 2013. She isformer national level volleyball player and had lost one of her legs after being thrown off a movingtrain of Padmawati Express for resisting a chain-snatching attempt by some criminals, when shewas travelling from Lucknow to Delhi on April 12, 2011.

Dr. Ranjana Advani has become the first Indian woman to receive the Saul Rosenberg MDProfessorship in Lymphoma from Stanford University.

Nunshi and Tashi Malik, two 21-year old Indians from Dehradun became first twins to scaleMount Everest on May 19, 2013. Anshu Jamshenpa of Arunachal Pradesh scaled the Mount Evereston May 18, 2013 for the third time.

Samina Baig, 22, became the first Pakistani woman to scale Mount Everest on May 19, 2013. She didthis along with Nunshi and Tashi Malik, the first Indian twin sisters to scale the Everest. Overall,she is the third Pakistani to reach a top Mount Everest.

Ritankar Das, an 18-year-old Indian-American has become the youngest graduate topper of theprestigious University of California in more than a century.

Trainee IRS officer Amar Gehlot, resident of Meerut in Uttar Pradesh, joined the National Academyof Direct Taxes (NADT) as part of the 65thIRS (I-T) batch was adjusted the best trainee officer. Hewas given the seventh medal by the President, the Finance Ministers gold medal, for his excellentrecord at academics and other streams of taxation at the institution.

Ami Bera, the only Indian-American Congressman joined the newly formed American SikhCongressional Caucus to work civil rights issues.

Sri Srinivasan- The United States senate on May 23, 2013 approved the first Indian-American, SriSrinivasan, as judge of the US Court of Appeals, DC circuit.

Sachin Tendulkar has announced his retirementfrom the cash-rich Indian Premier Leaguesoonafter Mumbai Indians won their maiden title defeating Chennai Super Kings by 23 runs in the final.Senior Indian batsman Sachin Tendulkar said it was the perfect time to retire from the Twenty-20

event as he has to face the reality after turning 40.

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Women Top Civil Service Examination - Girls emerged the winners in this years Union PublicService Commission (UPSC) examinations, bagging the first and third positions in the resultswhich were declared in New Delhi on May 3.

Haritha V. Kumar, a B.Tech student from Kerala University, stood first, followed by V. Sriram,on MBBS student, also of Kerala University, Stuti Charan, marketing and management studentof IIPM, Delhi, came third.

Stephen Hawking Joins Academic Boycott of Israel The campaign for an academic boycott ofIsrael in protest against its treatment of Palestinians got a boost on May 8, 2013 when StephenHawking withdrew from a high profile conference to be hosted by Israeli President Shimon Peres inJerusalem, probably in June 2013.

Robert Tufts 4 year old boy is Mayor of Town in Minnesota. Robert Tufts was selected mayor lastyear of Dorset town, with a population of mere 22 people.

Billionaires Joins Hands to Eradicate Polio Billionaries Bill Gatesand Carlos Slimjoined handsto eradicate polio in six years. Gates, the founder of US tech giant Microsoft while Slim is theworlds richest person. Slim will contribute $ 100 million to a project to eradicate polio within sixyears.

Poliomyelitis often called Polioor infantile paralysis, is an acute, viral, infection, primarily gviathe fecal-oral route.

Defence and National Security

The Prime Minister of India, Manmohan Singh laid the foundation stone of the Indian NationalDefence University (INDU) at Binola, Gurgaon. It is Worlds third and Indias first of-its-kinddefence university.

India successfully test-fired the 290-km range BrahMos supersonic cruise missilefrom the Navyslatest guided missile warship INS Tarkash off the high-level C manoeuvre in the predeterminedflight path and successfully hit the target. The missile was launched from the Russian-built warshipat 1100 hours, said BrahMos Aerospace Chief A. Sivathanu Pillai.

The Indian Navy has commissioned its first fighter squadronin three decades with the 303 BlackPanthers squadron getting formal status but will have to wait till the end of this year for the INSVikramaditya aircraft carrier to arrive from Russia to start sea-borne operations.

The new Indian Navy Air Squadron (INAS), commissioned at a ceremony, in the second week ofMay 2013, led by Defence Minister A.K. Antony, operates the MiG 29 K fighters that wereinducted into service in 2010 and have been going through trials and training missions over thepast three years before the arrival of the carrier.

North Korea Launches Fourth Missile North Korea on May 19, 2013 test-fired a short rangemissile off its east coast, its fourthin two days despite pleas from South Korea and the UN Chief tohalt the launches at a time of high tensions. The guided missile was fired into the East Sea (Sea of

Japan) on May 19, afternoon. On May 18, the North had fired three short range missile off its eastcoast, apparently as part of military drill.

South Korea unification ministry, which handles cross-border relations, said the launches posethreats to the region and should be stopped immediately.

UN Chief Ban Ki-Moon, speaking in Moscow, also called for Pyongyang to refrain from furthermissile tests. He said it was time for it to resume talks with the international community andreduce tensions.

The US State Department urged Pyongyang to exercise restraint, without specificallycommenting on the launches. It was unclear what type of missiles were fired on May 18-19, 2013.

Seoul military officials quoted by Yonhap news agency said they may be KN-02 surface-to-surface missiles with a range of up to 160 km, or rockets of at least 300mm in caliber fired from amultiple launcher.

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Sukhoi to Guard Indian Ocean Even as the western and eastern fronts with Pakistan and Chinaare bolstered with additional Sukhoi-30 MKI squadrons, India has also kickstarted plans to base itsmost lethal air dominance fighter in South India to keep a strategic eye over Indian Ocean.

In the South the new base is at Thanjavur in Tamil Nadu, which will house a Sukhoi squadron(16 to 18 jets) after the requisite tech-flight hangers, avionic bays, labs, fuel dumps and otherinfrastructure come up over the next few years. Long range fighters (Sukhoi has a cruising speed

range of 3,200 km) operating from Thanjavur will be able to dominate the crucial Andaman andNicobar archipelago as well as the Bay of Bengal, said a source.

India has so far inducted over 170 of the 272 Sukhoi-30MKIs contracted from Russia in dealsworth Rs.55,717 crore ($ 12.4 billion). Pune and Bareilly already have two Sukhoi squadronseach, while Tezpur, Chabua, Halwara and Jodhpur have a squadron each.

Indian Coast Guard Ship Vaibhav, the third in the series of 90 m class Offshore Patrol Vessel(OPV) was commissioned at Tuticorin by Vice Admiral Anurag G. Thapliyal, Director General ofIndian Coast Guard on May 21, 2013. The ship is fitted with advanced Global Maritime Distressand Safety System (GMDSS) making it an apt platform to carryout search and rescue operations inIndian Search and Rescue Region (ISRR).

New US Stealth Drones Launched from Aircraft Carrier by Remote Control The US Navylaunched an unmanned, autonomous aircraft the size of a fighter jet from a warship for the firsttime on May 14, 2013. The X-47B drone is the first designed to operate an aircraft carrier, whichallows it to be used around the world without needing permission to take off from airfields in othercountries. The Navy already operates two other unmanned aircraft: the small, low cost Scan Eagle,which does not carry weapons; and the Fire Scout, which is armed but built more like a helicopter.

First Naval P-81 Aircraft Arrived at INS-Rajali Indian Naval Aviation received a major boostwith the arrival of the first of eight Boeing P-81 Long Range Maritime Reconnaissance and AntiSubmarine Warfare (LRMRASW) aircraft at Naval Air Station Rajali (INS-Rajali) on May 15, 2013.The remaining seven aircrafts would be delivered over the next two years.

The P-81 aircraft, based on the Boeing 737-800 (NG) airframe, is the Indian Naval variant of theP-8A Poseidon that Boeing has developed for the US Navy. The aircraft is equipped with foreign& indigenous sensors Operations and Electronic Intelligence missions. The aircraft is fullyintegrated with state-of-the-art sensors and highly potent Anti-Surface and Anti-Submarineweapons.

These LRMRASW aircrafts have been procured under the contract signed in 2009. The IndianNavy is in process of procuring an additional four P-81 aircrafts under the option clause.

Committees/Commissions

The Union government had set up an expert Committee under the supervision Raghuram G.Rajan, Chief Economic Adviser, to evolve a composite index to measure backwardness of the state.

The Panel is set up in consistent to the Budget announcement, and it can also invite other experts asSpecial Invites for discussions.

The decision was taken amid demands for special category status by Bihar. The backwardness ofthe States will be considered in terms of measures like distance of the State from the nationalaverage under criteria such as per capita income and other human development indicators andfor evolving a Composite Development Index of States. The Committee is supposed to submit itsreport within 60 days. It is important here to note that the present criteria for determiningbackwardness are based on terrain, density of population and length of international borders.

The University Grants Commission (UGC) has set up a committee to prepare a single Bill foradministration of all Central Universities in the country.

The three-member committee comprising Prof. A.M. Pathan, former Vice-Chancellor of CentralUniversity of Karnataka; V.K. Bhasin, Former Secretary, Ministry of Law and Justice; and Prof.Y. C. Simhadri, former Vice-Chancellor of Banaras Hindu University; will prepare a draft bill for

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administration of all Central Universities as recommended by the Madhav Menon Committee onAutonomy of Central Educational Institutions including Central Universities.

Committee to Enhance MSME Exports The Union government consideration had set up a six-member inter-ministerial committee in April, 2013 under the chairmanship of Finance Secretary RSGujral to suggest measures for enhancing MSME exports. Micro, Small and Medium Enterprises(MSME) sector contributes about 40% in the countrys total exports and over 8% to Indias Gross

Domestic Product (GDP). The committee will suggest short and long term measures to enhanceexports from MSME sector. It will submit its recommendations by mid-May 2013.

State Security Commission Set-up Andhra Pradesh government on May 4, 2013 set-up the StateSecurity Commission under the chairmanship of the state Home Minister. The 6 memberCommission has been set-up following the Supreme Courts directions for efficient, transparent andaccountable performance of police system. Chief Secretary to the state Government, PrincipalSecretary in Home department, Law Secretary and a retired High Court Judge will be members ofthe commission. The Director General of Police will be the Convener and Secretary of thecommission.

The Commission will advise the government on broad policy guidelines pertaining to effectivepolicing and will assist it in identifying organizational goals for preventive tasks. It will also

recommend the government on strategic and perspective plans for police.

Khandeparkar Committee on Illegal Mining The Goa government-appointed Justice RMSKhandeparkar committee on illegal mining has decided to probe further the illicit tapping of iron-ore in Goa, which will help the government arrest illegalities and prepare a roadmap for future ofmining industry in the state on May 7, 2013. The State government had notified KhandeparkarCommittee to further investigate into the findings of Justice MB Shah Commission, which hadpegged illegal mining in the state to Rs.35,000 crore.

Schemes/Initiatives

The Cabinet Committee on Unique Identification Authority of India (UIDAI) approved the costestimates of Phase IV of the UID Scheme. The estimated cost of the scheme is around Rs.3436 crore.

A new initiative launched by the Delhi Metro Rail Corporation (DMRC) to make services moreand more automated by allowing passengers to recharge their Metro smart cards through theinternet.

The Union Ministry of Health and Family Welfare relaxed the eligibility parameters for the JananiSuraksha Yojana(JSY) on May 21, 2013, with an expectation of reducing the neo-natal and maternalmortality in young mothers. The benefits of the scheme is extended to every woman from BPLcategory as well as Scheduled Castes and Scheduled Tribes from all States and Union Territories ofthe country if they give birth to the new one in government as well as the private accredited healthfacility, as well as to those women from BPL category who deliver at home (as part of their choise).

Reason Behind Age Relaxation The decision of relaxing the age parameters for the JSY cameup after the government realized that the majority of women who could have been benefitedwith the scheme needed to prove that they were above 19 years in age and didnt have more thantwo children. Because of the initial parameters that existed under the purview of the JSY scheme,the JSY failed to respond to the maternal mortality of the girls aged 14-15 (who sufferedmaximum), as they didnt succeeded in getting the age verification as well as the number ofchildren they had.

The Yojana, launched on April 12, 2005, by the Prime Minister, is being implemented in all theStates and UTs with special focus on low performing states.

The Union Cabinet of India on May 1, 2013 approved major changes to the National RuralLivelihoods Mission(NRLM) with the objective of removing poverty in rural areas by empowering

women. Approximately, 25 lakh Women Self Help Groups (SHGs) will be granted bank loans at aninterest rate of seven percent. They could avail loans upto Rs.3 lakh annually.

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Aajeevika National Rural Livelihoods Mission (NRLM) was launched by the Ministry of RuralDevelopment (MoRD), government of India in June, 2011. Aided in part through investmentsupport by the World Bank, the Mission aims at creating efficient and effective institutionalplatforms of the rural poor enabling them to increase household income through sustainablelivelihood enhancements and improved access to financial services.

Tribal Forest Dwellers Empowerment Scheme Launched Union Minister of Tribal Affairs &Panchayati Raj, V. Kishore Chandra Deo, launched the Tribal Forest Dwellers EmpowermentScheme of National Scheduled Tribes Finance and Development Corporation (NSTFDC) foreconomic upliftment of schedule tribe forest dwellers on May 8, 2013.

A Radio Partnership MoU was also signed between NSTFDC and All India Radio (AIR) forcoverage of Scheduled Tribes related schemes. Forest Rights Act recognized and regularized thepre-existing rights of ST forest dwellers and under this scheme, financial assistance will beprovided to them at concessional rate for their empowerment. MoU between NSTFDC and AIRwill help to impart information about Scheduled Tribes related schemes. NSTFDC wouldgenerate awareness, provide training and assist in market linkage apart from providing financialassistance at concessional rate of interest of 6% per annum to the beneficiaries. This assistancewould be made available through 33 State Channelizing Agencies of NSTFDC and certain PSU

Banks/Regional Rural Banks having refinance agreements with NSTFDC. The government enacted a Scheduled Tribes and Other Traditional Forest Dwellers (Recognition

of Forest Rights) Act, 2006. Under this Act, the Scheduled Tribes and Other Traditional forestDwellers have been given the right to hold the forest land for habitation or for self-cultivation orfor carrying out any other traditional activity for their livelihood. Most of the Scheduled Tribesare poor and need financial support for productive utilization of land for their livelihood.

Pehal for Family Planning - Central government has launched a new scheme named Pehal tocheck family planning in collaboration with PSI and Federation of Obstetrics and Gynae Associationof India. Under this scheme, 3 lakh 50 thousand females will be betting Intra Uterine Device (IUD)for family planning. This scheme is the extension ofJanani Suraksha Yojana(JSY). The scheme willbe implemented in Haryana, Delhi, Rajasthan and Uttar Pradesh.

Launched in 2005, under the Ministry of Health and Family Welfare (MoHFW). It is one-timecash incentive to pregnant women for institutional/home births through skilled assistance.

Government Approved Launch of NUHM The Union Cabinet of India approved the launch ofthe National Urban Health Mission(NUHM) on May 1, 2013 to reduce rates of infant mortality,maternal mortality and for universal access to reproductive health care.

The mission will be implemented in 779 cities and towns each with the population of more than50000 is expected to cover about 7.75 crore people.

The Cabinet also gave its nod to a bill which provides for confiscating property illegally acquiredby corrupt public servants. The major changes to the Prevention of Corruption Act, 1988 wereapproved by the Cabinet.

The Union Cabinet also approved the Empowered Group of Ministers (EGoM)s decision toconduct auction of 839 channels of FM radio stations in 294 cities through e-auction.

The decision is part of the amendments in the Policy Guidelines for Phase III expansion of FMRadio broadcasting services through private agencies.

The government also approved amendments to a bill that seeks to eradicate manual scavenging. The Prohibition of Employment as Manual Scavengers and their Rehabilitation Bill, 2012

includes provisions for mandatory inclusion of women in vigilance committees at the district,state and national level and a survey to identify manual scavengers.

The Union Cabinet also referred the Marriage Laws (Amendment) Bill to a Group of Ministers.The law deal with a womans right to marital property in case of a divorce.

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ISSNIP Project Launched Krishna Tirath, Minister for Women & Child Development launchedthe World Bank assisted ICDS Systems Strengthening and Nutrition Improvement Project (ISSNIP)was launched on May 9, 2013. The programme aims at improving child development andnutritional outcomes for children in selected districts having higher proportion of children undernutrition.

Four major components under the project are:1. Institutional and systems strengthening in ICDS2. Community mobilization and behaviour change communication3. Piloting multi-sectoral nutrition actions4. Project Management, Technical Assistance and Monitoring & Evaluation

The ministry of Women and Child Development has also launched the Indira Gandhi MatritvaSahyog Yojana (IGMSY), a conditional maternity benefit scheme which provides a cash benefitof Rs.4,000 directly to women 19 years and above for the first two live births if they fulfil specificconditions relating to maternal and child health and nutrition. ICDS nutrition services andprovisions of maternity benefits are also part of National Food Security Bill.

IBIN Node - The Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia,launched the India Backbone Implementation Network (IBIN) with the purpose to improve

implementation of policies, programmer, and projects. 12thFive Year Plan has located as the criticalnecessity for accelerating more inclusive and faster growth. Indai@75 partners with the PlanningCommission to launch this national network of collaboration and will be hosting the first node ofIBIN. This model is based on Japans model during Total Quality Movement in 1960-70.

India@75 is a path breaking initiative. It envisions how India should be in her 75 th year ofindependence and seeks to bring together all stakeholders including the industry, government,institutions, community groups and individuals to translate the vision into a reality. Prof CKPrahlad has been the inspiration behind India@75.

Inter-Ministerial Group to Tackle Ponzi Schemes The Union government of India, on May 7,2013, constituted an Inter-Ministerial Group to suggest the possible ways to tackle with thefraudulent money pooling activities and protect the investors interest in the same. Members of theInter-ministerial group will comprise of representatives from the Finance and Corporate AffairsMinistries, Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI).

The decision to constitute a Inter-Ministerial Group was taken in wake up of the instance ofpeople being defrauded by Ponzi Schemes like the Kolkata-based Saradha Group cheating inwhich many investors were fooled via fraudulent money pooling schemes.

Ponzi Schemesare the activities that involve collecting money from public (investors) on a largescale making fraud promises of big returns. These are paid from the money that is paid by thenew investors and in this type of scheme the old investors get big returns by bringing in newinvestors.

Amma Canteen Scheme Tamil Nadus Chief Minister J. Jayalalithaa announced the expansion ofthe Amma Canteen (budget canteen) scheme to nine other districts in the state while including moredishes in the menu of canteens on May 15, 2013. Idli will be sold at Rs.1 per piece, sambar rice atRs.5 per plate and curd rice at Rs.3 per plate. The Chennai Corporation initially started the AmmaCanteen in 200 wards in the city.

Delhi Swavlamban Scheme - The Delhi government launched the Delhi Swavlamban Scheme, tooffer a pension for workers in the unorganised sector on May 1, 2013. The scheme will be a co-contributory pension programme in collaboration with the Swavlamban scheme of the Centre. TheDelhi government will make a contribution of Rs.1000 per year along with equal contribution of thecentral government and a contribution not exceeding Rs.12,000 from the subscriber.

The scheme is Aadhaar-linked and aimed to ensure universal coverage. Besides workers in theinformal sector, Anganwadi workers will also be benefited. The quantum of pension may varyfrom case-to-case.

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Dairy Development Scheme Launched The Puducherry administration has launched a centralgovernment sponsored scheme to promote dairy activities and enhance socio-economic status of thefarmers in the Union Territory on May 14, 2013. Under the scheme Rashtriya Kisan Yojana, 400beneficiaries have been selected in the first phase of which 27 have been extended a subsidy ofRs.50,000 each running to a total of Rs.13.5 lakh.

Summit/Conference India China Bilateral Meet on Healthcare Sector in Geneva was held in Geneva on May 21, 2013.

The meeting was held on the sidelines of World Health Assembly with the objective ofstrengthening of bilateral cooperation between the two countries in healthcare sector.

The 45thSession of the Indian Labour Conferenceconcluded in New Delhi on May 18, 2013 with aresolve to provide universal social security coverage and assured pension to the entire workingpopulation. The conference was a two-day affair.

6thEuropean Conference on Space Debris The European Space Agency (ESA) on April 25, 2013during the 6thEuropean Conference on Space Debris in Darmstadt, Germany announced that theSpace Junk such as the debris of rockets should be removed from the orbit of the Earth. Prof HeinerKlinkrad was the Chairman for the 6th European Conference on Space Debris in Darmstadt,Germany.

The researchers agreed to the point that the debris-environment in the orbit would becomeunstable within few decades and this phenomenon is called Kessler Syndrome.

Removal of five to ten large debris, every year can be the solution to reverse the process of debrisgrowth in the orbit.

European Space Agency in 2012 launched Clean Space Initiative that aims at developing thetechnology to capture and remove space debris safely.

IMDEX Asia 2013 The International Maritime Defence Exhibition and Conference (IMDEX) Asia,2013 has opened in Singapore with a record number of navy and air force chiefs attending. In all, 61delegations from 48 countries and 194 exhibitors attended the event. A total of 15 warships from

nine countries took part in the event, which is hosted by the Republic of Singapore Navy from May14 to 16, 2013.

15 warships from nine countries are as follows

Australia Armidale Class Patrol Craft HMAS BathurstIndia INS Satpura (Frigate) & INS Kirch (Corvette)Indonesia KCR 40Class Patrol Craft KRI Kujang & Diponegoro Class Corvette KRI Frans KaisiepoMalaysia KD Lekiu FrigateFrance FSL Offshore Petrol VellelUS US Freedom (Combat Ship)Singapore RSS Justice (Petrol Vessel)Thailand HTMS Rattanakosin (Frigate)

Korea ROKS Wang Jaon (Destroyer)

Agreement/Deal/Sign/Talk

Iranhas agreed to source automobiles and pharmaceuticals to help India settle payments for oilimports in rupees. This would open another door for two of Indias biggest exports.

Japan and Turkey signed a long-awaited deal to build a sprawling nuclear power planton TurkeysBlack Sea coast, a milestone for the Japanese nuclear industry as it recovers from the 2011Fukushima disaster on May 3, 2013.

The agreement came a day after Japan signed a nuclear co-operation deal with the United ArabEmirates. The Sinop plant is to comprise four reactors with a combined output of 4800 MW.Construction is to begin in 2017, with the first reactor to be operational by 2023.

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Bermudaand other British overseas territorieson May 1, 2013 signed deals with financial centreson sharing tax information. The similar recent deals were struck with Jersey, Guersey and the Isle ofMan.

As per the deal, the bank account details, such as names, addresses, dates of birth, accountnumbers, account balances and payment details will be passed on. The data will be shared withboth the UK tax authorities and those in France, Germany, Italy and Spain.

IBSA Womens Forum Resolution Signed The Union Minister for Women and ChildDevelopment Krishna Tirath signed the Fifth India-Brazil-South Africa (IBSA) Womens ForumResolution at the end of the three day meet of IBSA Womens Forum on May 16, 2013. The signedjoint resolution, will allow the three countries to recognize the key role of Governments of thesecountries with the support of the Civil Society to ensure and accelerate efforts towards achievinggender equality and empowerment of women.

The resolution was signed between Krishna Tirath, her South African counterpart LulamaXingwana and Maria do Carmo Gadinho Delgado, Secretary of Evaluation of Policies andEconomic Autonomy of Women of Brazil.

IBSA (India Brazil-South Africa) Trilateral Initiative IBSA is a trilateral, developmentalinitiative between India, Brazil and South Africa to promote South-South cooperation andexchange. Formation of IBSA for the first time was discussed during the G-8 meeting that tookplace in Evian, France in 2003. Further, the External Affairs Minister of India, Yashwant Sinha,the Foreign Affairs Minister of Brazil, Celso Amorim and the Minister of Foreign Affairs of SouthAfrica, Nkosazana Dlamini Zuma met in Brasilia on June 6, 2003 and farmalised the launch ofIBSA Dialogue Forum with an adoption of the Brasilia Declaration.

Womens Forum of IBSA The womens Forum initiative launched under the People-to-Peoples Forum by the heads of the IBSA states came up during the second IBSA Summit inSouth Africa in 2007. The forum came into existence with the aim of cooperation between thethree countries with the objective of promoting gender equality and empowerment.

The Election Commission of India and the National Literacy Mission Authority, Ministry ofHuman Resource Development, on May 21, 2013 signed a Memorandum of Understandings(MoU)on Electoral Literacy and Greater Participation for a Stronger and Inclusive Democracy in NewDelhi.

The MoU is the first ever by the Election Commission of India with a government Department.Under the MoU, ECI and NLMA will work jointly to sensitize citizens, especially the vulnerableand disadvantaged including women, SCs, STs, Minorities, in NLMA covered districts, abouttheir electoral rights and about exercise of franchise.

Electoral Literacy will form part of curriculum for adult Literacy and Basic education. NLMAwill spread electoral literacy during its environment Building and mass mobilization campaigns,with specific focus on electoral registration and informed and ethical voting in coordination withthe Election Commission.

GoM to Consider Functional Autonomy of CBI The Union Cabinet of India approvedconstitution of a Group of Ministers (GoM) to consider the matter relating to an appropriate lawbeing made to provide for the independence of the Central Bureau of Investigation (CBI) and itsfunctional autonomy on May 14, 2013.

It has also been decided, with the approval of the Prime Minister that the composition of the GoMwill be as under P. Chidambaram (Minister of Finance) Sushilkumar Shinde (Minister of Home Affairs) Kapil Sibal (Minister of Communications and Information Technology and Minister of Law and

Justice) Salman Khurshid (Minister of External Affairs) V. Narayanasamy (Minster of State in the Ministry of Personnel, Public Grievances and Pensions;

and Minister of State in the Prime Ministers Office)

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The GoM will prepare the draft law and the draft affidavit to be filed in the Supreme Court in thecontext of the Writ Petition (Civil) No. 120 of 2012, within three weeks. The GoM will be serviced bythe Department of Personnel and Training.

A Memorandum of Understandings (MoU) was signed between National Commission for Women(NCW) and HUDCO on May 7, 2013 in New Delhi to elevate the condition and status of themarginalized and destitute women in India. This MoU is a part of Corporate Social Responsibility of

HUDCO, under which focus will remain on providing better amenities of housing and otherfacilities such as drinking water, sanitation and electricity to poor and destitute women. Under theMoU, NCW shall identify the areas where the activity or project has to be undertaken and HUDCOshall provide financial assistance for implementation of these projects along with technical advice.

KP Group Signs MoU with Argentina University KP Group of Institution signed an MoU withLa Panta University of Argentina during the Indo-Argentina summit organised in Agra recently. Asper the MoU, top 20 students of La Panta University of Argentina will do relevant courses in thefield of technology and IT at KPGI and top 20 students of KPGI will do courses of various languageslike Spanish, French, German and Computer Courses organised by La Patna University.

MoU Signed Between National Thermal Power Corporation (NTPC) and Ministry of Power for2013-14 Main Points are: According to the MoU signed, NTPC will work towards generation of 242 BU during 2013-14. In 2013-14, NTPC will also strive to produce 4 MMTPA coal from its own captive mines. NTPC envisaged fresh capacity addition of 1875 MW in 2013-14. Milestones related to other ongoing projects and Mines of NTPC are also part of MoU. Other sections associated with CSR and Sustainability, Financial Performance, Human Resource

and R&D in line with guidelines of Department of Public Enterprises also formed a part of thisMoU.

Ministry of Power will assist NTPC in the areas related to Commercial, Fuel Security and AshUtilisation and land acquisition.

INDIASRI LANKA FTA Handbook Released in Colombo Indian High Commission in SriLanka launched a handbook on Free Trade Agreement (FTA) in Colombo on May 15, 2013. The FTAhas helped Sri Lanka increase its exports to India manifold. The trade imbalance has decreased as aresult of the favourable terms of the Free Trade Agreement between the two countries.

INDIA - UK Cooperation in the Field of Health Sector - An MoU on cooperation has been signed in the field

of Health sector in Geneva between the government of India and the government of the UK andNorthern Ireland on May 20, 2013. The areas identified for cooperation in the MoU include: Promoting exchange on healthcare policy in India and the UK Human resources for Health Regulatory issues Health technology development Primary healthcare Strengthening of public infrastructure and capacity Health security, including cooperation on infectious diseases, emerging infections and drug

resistance

Super-Priority Visas for Indians Britain rolled out the same-day visa for Indians, making itthe first country to get a visa to visit the UK within 24 hours on May 14, 2013. The same-day visaservice was announced by British Prime Minister David Cameron during his visit to India.However, it comes with a fat price, it will cost 600 (nearly Rs.50,000) in addition to the price ofthe visa. Those in Delhi and Mumbai will be able to apply for this service.

Tech Mahindra Signed Agreement with Falcorpof South Africa to float a new company on May 6,2013. Tech Mahindra and Mahindra Satyam together employed close to 400 associates in SouthAfrica.

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Kerala & Himachal Pradesh Cooperation in Rural Development Kerala & Himachal Pradeshannounced that they would share information about feasible models and best practices tostrengthen implementation of their rural development projects on May 18, 2013. Kerala Panchayatsand Social Welfare Ministry shared details about local self governance in the state, communityfarming and the Kudumbashreeprogramme with Himachal Pradesh.

A larger ministerial team from Himachal Pradesh is likely to visit Kerala to assess the progressmade in the state in the sector of social security. A delegation from Kerala will pay a visit toHimachal Pradesh to study development projects for tribal communities there and to replicatethat in their state.

INDIA-NETHERLANDS MoU on Technical Cooperation Kamal Nath, Minister for UrbanDevelopment & Parliamentary Affairs and Melanie Schultz van Haegen, Minister for Infrastructureand Environment, Netherlands signed a Memorandum of Understandings (MoU) on TechnicalCooperation in the field of Spatial Planning, Water Management, and Mobility ManagementonMay 14, 2013 at the Hague, Netherlands.

Udaipur The second meeting of the Expert Group to negotiate SAARC Motor Vehicle Agreementwas held in Udaipur, Rajasthan on May 20, 2013. The Sixteenth SAARC Summit in Thimphu,endorsed the recommendation to declare 2010-20 as the Decade of Intra-regional Connectivity inSAARC. It was agreed on the need to expedite negotiations with a view to finalize the agreementson Motor Vehicles and Railways.

FTA Handbook Released in Colombo Indian High Commission in Sri Lanka launched ahandbook on Free Trade Agreement (FTA) in Colombo on May 15, 2013. The FTA has helped SriLanka increase its exports to India manifold. The trade imbalance has decreased as a result of thefavourable terms of the Free Trade Agreement between the two countries.

Meet / Visit

The eighth India-Seychelles Joint Commission Meeting (JCM) was held on May 8, 2013 at NewDelhi. The Joint Commission exchanged views on bilateral, regional and international matters of

mutual interest during the meet. The next meeting of the Joint Commission will be held inSeychelles.

Indiaand Chinaheld 36thBorder Personal Meetingat Nathula. This meeting is held every year onMay 15 in Sikkim.

Minister of State for Power (Independent Charge) Jyotiraditya Scindialed a high-level delegationto Berlin. Scindia had detailed discussions with Germanys Minister of State for Economic.Cooperation & Development Gudrun Koppon the implementation of the joint Declaration of Intenton Establishment of Green Energy Corridors.

The Green Energy Corridors will enable evacuation of over 30000 MW of renewable energygenerated from wind and solar power during the 12 thFive Year Plan in India into the national

grid, for which Germany has committed to provide developmental and technical assistance ofEuro 1 billion.

Chinas PM Li Keqiangpaid a three-day visit to Indiain the third-week of May. During this visitIndia and China expressed a strong desire to resolve pending issues and take the relationshipforward in new spheres such as civil nuclear during two rounds of discussions in New Delhi onMay 20 and 21, 2013 between Prime Minister Manmohan Singh and visiting Chinese Premier LiKeqiang. India and China on May 20, 2013 decided to scale up its two-way trade from 67.8 bnDollars in 2012-13 to 100 billion dollar by 2015.

The two leaders firmed up eight agreementsto enhance cooperation in a range of areas includingtrade, culture and water resources.

India, China lay Road, map for better ties and trade. Agree to evolve mechanism to ease border tension, address trade balance. Sign eight pacts for bilateral boost. China realizes the need to accord due consideration for Indian sense of national pride.

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G-7 Finance Ministers Meet in Aylesbury, England Group of seven finance officials agreed onMay 11, 2013 to press on with measures to deal with failing banks and gave a green light to Japansefforts to galvanize its economy.

British Finance Minister George Osborne said the finance ministers and central bankersmeeting outside London focused on unfinished banking reforms.

The emergency rescue of Cyprus in March acted as a reminder of the need to finish an overhaulof the banking sector, five years after the world financial crisis began.

India to Develop Chahbahar Port Project The 17thSession of the India-Iran Joint Commission washeld in Tehran on May 4, 2013. The Session was co-chaired by Ali Akbar Salehi, Foreign Minister ofIslamic Republic of Iran and by Salman Khurshid, External Affairs Minister of India. India and Irandiscussed bilateral and regional issues of mutual interest. They discussed Indian participation inChahbahar Port Project, which will provide connectivity with Afghanistan and will give an impetusto Afghanistans economic development. The two sides also reiterated the importance of greaterconnectivity between Russia, Central and South Asia through the International North SouthTransport Corridor(INSTC).

Indiaand Iranalso signed the following Memorandums of Understanding (MoUs):

Between the Institute of Standards and Industrial Research of Islamic Republic of Iran (ISIRI) andBureau of Indian Standards (BIS).

Between the Foreign Service Institute, Ministry of External Affairs, Republic of India and Schoolof International Relations, Ministry of Foreign Affairs, Islamic Republic of Iran.

Between the government of Republic of India and the government of Islamic Republic of Iran oncooperation in the field of water resources.

JWG to Address Expatriate Indian Workers India and Saudi Arabia decided to set up a JointWorking Group (JWG) to address the concerns of expatriate Indian workers in Saudi Arabia on theNitaqat law on April 28, 2013. The India-Saudi Arabia Joint Working Group on Labour will discussa Memorandum of Under-standing on labour cooperation and other issues.

The decision were taken at a meeting of a high level Indian delegation led by the OverseasIndian Affairs Minister Vyalar Ravi with the Saudi Labour Minister Adel Fakieh in Jeddah. Thefirst meeting of the group will be held in Riyadh on May 1, 2013.

Nitaqat Law The Nitaqat law makes it mandatory for local companies to hire one Saudinational for every 10 migrant workers. The new policy will result in to denial of jobopportunities for many Indians working there. The Nitaqat aims at creating more jobs for Saudicitizens. It was enacted following Arab Spring, which had happened mainly because of hugeunemployment in countries such as Yemen and Egypt.

Bills

Frances President has signed into law a controversial bill making the country, the ninth in Europeand 14thglobally, to legalise gay marriage.

The Union Cabinet on May 9, 2013 has given its approval for moving official amendments to themulti-State Cooperative Societies (Amendment) Bill, 2010 pending in the Lok Sabha.

Objectives of Amendment The objective of the official amendments is to ensure that the provisions of the Bill are in

conformity with the provisions of the Constitution (Ninety-Seventh Amendment) Act, 2011. TheOfficial Amendments also proposes to have provision for revival of sick societies.

It is proposed that if the Central Registrar at any time, is of the opinion that a multi-Statecooperative society has become sick, then it may, by order, declare such society as sickcooperative society. The Central government or any person authorized by it shall prepare ascheme for rehabilitation and reconstruction of such sick society and the society shall place itbefore the general body for approval.

It is also proposed that where a scheme for rehabilitation and the reconstruction of a multi-Statecooperative society has been prepared, the Central government may, on the recommendation ofgeneral body, reorganize the board of such persons having experience in the field of cooperative,

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management finance, accountancy and any other area relating to such societies as may berecommended by general body.

Australian PM Gillard Introduces Disability Tax Bill In a rare departure from hercharacteristically tough style, a teary-eyed Australian Prime Minister Julia Gillard introduced a newtax Bill to Parliament on May 15, 2013 that would fund better care for Australians with severephysical and mental disabilities. Ms. Gillard said that the tax would provide a funding base for a

national disability insurance scheme that had remained little more than a concept for the past sixyears.

Irelands government unveiled the Protection of Life during Pregnancy Bill on May 1, 2013. Itexplains when life-saving abortions can be performed. Moreover, its a clarification of rights withinthe ambit of Current law. The Bill mentioned clearly that anyone illegally involved in abortioncould face a maximum 14-years prison sentence whether he is a doctor or a patient.

Fund

India Signs $ 252 million Loan with ADB The Asian Development Bank (ADB) and theGovernment of India have signed a $ 252 million loan to continue improving rural roads in theStates of Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal.

World Banks approval for $ 100 million loan to NHB The World Bank has approved aconcessional loan of $ 100 million for the National Housing Bank (NHB) for the implementation of alow-income housing programme. The loan has been granted under the concessional InternationalDevelopment Association window on a long-term basis for 25 years.

Companies/Industry

The Supreme Court of India upheld the constitutional validity of Governments decision allowing51% Foreign Direct Investment (FDI) in the multi-brand retail sector.

The Cabinet Committee on Economic Affairs (CCEA) approved the Rs.10,500 crore Foreign DirectInvestment (FDI) proposal of Swedish furniture major IKEA in the single-brand retail sector.

The Supreme Court set aside the Orissa High Court order that had quashed the state governmentspetition to allot iron-ore licence to South Korean steel major Posco in Khandadhar hills inSundergarh distrcit.

China has become the worlds biggest market for personal computers with industry specialistssaying it received 69 million shipments of PCs in 2012. In the process, China trounced the US whichwas the biggest PC market till 2011.

IIP Growth in 2012-13 Dips to 20-Year Low Countrys industrial performance during 2012-13 wasthe worst in the past 20 years. During 2012-13, the Index of Industrial Production (IIP) grew by only1.0%, down from 2.9% in the previous year 20112 and manufacturing output grew by just 1.2%. Thecurrent industrial scenario is very near to the crisis year of 1991-92 when there was only 0.6% IIP

growth resulting a severe balance of payments position. DIPP Released 6th Issue of Consolidated FDI Policy The department of Industrial Policy and

Promotion, Government of India has released the 6thissue of consolidated FDI Policy, effective fromApril 5, 2013.

The Key changes brought by the FDI Policy 2013 are as follows: A citizen of Pakistan or an entity incorporated in Pakistan can invest in sectors/activities other

than defence, space and atomic energy sectors/activities prohibited for foreign investment. The erstwhile requirement for an independent valuation of the capital

goods/machinery/equipment by a third party entity has been removed. Downstream investment by Banking Companies has been allowed in certain cases. Foreign investment in multi-brand retail trading has been permitted. Foreign investment limits in teleports and D2H (Direct to Home) has been increased from 49% to

74% (wherein any investment beyond 49% to 74% would be subject to government route).

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Foreign investment in Air Transport Services (in both scheduled and non-scheduled air transportservices) has been permitted.

Foreign investments in single brand product retail trading allowed. Foreign Institutional Investors (FIIs) have been permitted to invest in Asset Reconstruction

Companies upto 10% of the total paid-up capital. Downstream investments by foreign owned Non-Banking Finance Companies (NBFCs)

permitted. Foreign investment upto 49% has been permitted in power exchanges (inclusive of limits of 26%and 23% on FDI and FII investments respectively) to put power exchanges at par withcommodity exchanges.

ONGChas reclaimed the spot as the countrys most valued company, pushing IT giant TCS to thesecond slot. In the ranking of top-10 companies, ONGC was at the top position, followed by TCS,RIL, ITC, CIL, HDFC Bank, SBI, ICICI Bank, HDFC and Infosys.

Stock Market UKs Cairn Energy plcsold 8% stake in Carin India for 910 million US dollars. Cairn Energy retains

about 10% shareholding in Cairn India following the sale.

An Inter-Ministerial Group (IMG) has approved 10% equity sale in Coal Indiawhich is expected tofetch over Rs.17,000 crore to the government. At present, the government holds 90% stake in CoalIndia.

NSE Launched Debt Trading Platform National Stock Exchange, the leading bourse, launchedthe countrys first dedicated debt trading platform on May 11, 2013. The new platform launched isawaiting the market regulator SEBIs guidelines for allowing participation of mutual funds,insurance companies and pension funds. NSE had recently received approval from SEBI to launchthe debt segment.

Debt Trading Platform The debt trading platform is supposed to provide retail investors an opportunity to invest in

corporate bonds on a liquid and transparent exchange platform. Banks and primary dealers are the first to enter and they will provide enough liquidity in the

debt segment. The mutual funds, insurance companies and pension funds are also expected to participate after

guidelines for the same are issued.

BSE Launched an Islamic Equity Index The Bombay Stock Exchange (BSE) launched an Islamicequity index based on the wide-measure S&P BSE 500 index on April 30, 2013. It will provide a newbenchmark for Islamic investors in one of the worlds largest stock exchanges. The new indexincludes the largest 500 companies in the BSE, out of more than 5000 listed. These companies fulfillIslamic finance principles such as bans on investing in alcohol, tobacco and gambling-relatedbusinesses. The BSE had launched the countrys first Islamic index in 2010 after tracking the 50

largest and most liquid stocks. Indias Islamic banking industry has made slow progress becausebanking rules need lenders to declare the rates of interest they charge customers.

Bharti Airtel will sell a 5% staketo Doha-based Qatar FoundationEndowment for Rs.6796 crore ($1.26 billion) to bolster finances weighed down by Rs.63,689 crore ($ 11.7 billion) of debt. The deal,which values Bharti at Rs.135920 crore ($ 25.2 billion), could be one of the countrys largest privateequity transactions ever, if the definition of private equity is extended to include sovereign wealthfunds and endowments.

Exports/Imports Exports Rise 1.7% in April 2013 According to the data released by the Ministry of Commerce &

Industry, in April 2013, Indias merchandise exports rose a marginal 1.68% to $ 23.76 billion in the

corresponding month last year. However, the imports in the country surged a massive 10.86% to $41.95 billion, against $ 37.80 billion in the year ago period, primarily owing to a 138% jump in gold

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and silver imports. Consequently, the trade deficit stood at $ 17.8 billion compared with $ 14.04billion in April 2012.

In April 2013, gold imports stood at $ 7.5 billion, against $ 3.1 billion in the year-ago period.Trade deficit during April 2013 was the third-highest after $ 20 billion in October 2012 and $ 21billion in January 2013 this year.

India has Cut Down the Import of Crude Oil India has cut down the import of crude oil fromIran by over 26.5% in the financial year ended on March 31, 2013. India had imported 13.3 milliontonnes of crude oil from Iran in 2012-13, which steeply came down from 18.1 million tonnes shippedin the 2011-12 financial year. The US and EU have shut down the use of their financial systems forIranian crude trade, and Washington has recently imposed more treasury sanctions on trade withIran which is making the imports from the Islamic nation even more complicated.

Taxation/Trade Karnatakas Finance Ministry turned down the Centres request to place mobile phones and tablets

in the list of declared goods in the Goods and Services Tax(GST) regime.

The Union government slashed the import tariff value of gold and silverto 466 dollars/10 g and761 dollars/kg, respectively on May 16, 2013. The decision to slash the import tariff was takenCentral Board of Excise and Customs(CBEC) after considering weak global price trend. Earlier inApril 2013, the tariff value of gold was 472 dollars/10 g, while silver was 762 dollars/kg.

Government has cut the import tariff value of gold as international prices of gold and silvershowed a declining trend as investors shifted funds to equities with firming up of dollar.

Tariff value is actually the base price on which the customs duty is determined to prevent under-invoicing.

The government has also hiked the tariff value of crude palm oil to 831/tonne from 827dollars/tonne, while RBD palm oil has been reduced to 836/tonne form 857 dollars tonne onApril 27, 2013.

The tariff value of crude soyabean oil and their varieties of palm oil have also been raised. In the London market, gold prices fell by 1.6% to 1370.82 dollars per ounce, while silverdeclined by 1.8% to 22.20 dollars an ounce. Similarly, gold prices in the national capital fell by Rs.500 to Rs.26,800 per ten grams, while

silver dropped by Rs.1000 to Rs.43,700 per kg.

Production/ Agriculture

Foodgrains Output for 2013 Exceeded its Target- The Union government of India on May 3, 2013revised the production estimates of the foodgrains upwards by 5.22 million tonnes for 2012-13, overearlier expectation of 254.24 million tonnes due to the higher output of wheat, rice and coarsecereals.

Space A Russian capsule named Bion-Mfilled with 45 mice and 15 newts has returned from a months

mission in orbit with data scientists hope will pave the way for a manned flight to Mars.

China successfully launched a communication Satellite called Zhongxing-11 from XichangSatellite Launch Centre in Southwest Sichuan province on May 2, 2013.

Cluster of Hydrogen Clouds Discovered between Two Nearest Galaxies Astronomers at theNational Radio Astronomy Observatory discovered a cluster of hydrogen clouds between our twonearby galaxies Triangulum (M33) and Andromeda (M31). The cluster of these clouds was neverseen before. The researchers contemplated that these were the rare blobs of gas condensed fromgigantic and undetected pool of ionized and hot gas.

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Science and Technology

A supercapacitor developed by an 18-year-old from California could charge cell phones in as littleas 20 sec. This new invention was one of the two winners of the Young Scientist Award at the IntelInternational Science and Engineering Fair in Phoenix. The new device fits inside cell phonebatteries, providing near-instantaneous charging capabilities. Eesha Khare, the inventor of the newsuperconductor, is a high school student, and a native of Saratoga, NY.

First Cloned Human Embryo A group of US Scientists declared that they have succeeded increating a cloned human embryo using the technique that helped in developing the cloned sheep in1996. The scientists took fifteen years to create the cloned embryo. The team of scientists developedthe embryo using skin samples of a womans egg to develop an early cloned human embryo. Aim ofthis research is the development of a source of stem cells not a baby. These can be helpful in repairof damage created after heart attack or brains of patients of Parkinsons disease.

Somatic Cell Nuclear Transfer technique was used in development of the embryo and it is thesame technique that was used for developing the Sheep Dolly, the first cloned animal in 1996.

China Produced Worlds Lightest Substance- Zhejiang University of China, in May, 2013,announced that the team of scientists produced an ultra-light substance known as carbon aerogel,which has the density of 0.16 milligrams per cubic centimeters, breaking the previous record of theworlds lightest material held by graphite aerogel. Graphite aerogel, developed by Germanscientists last year, had a density of 0.18 mg/cc. Aerogel is a material produced with semi-solid geldried and solvent removed. It appears in a solid state with many internal pores filled with air, andthus is of minimal density.

Researchers discovered a new species of dragonfly from a wildlife sanctuary in Goa. The newspecies was spotted at Bhagwan Mahaveer Wildlife sanctuary at Collem in south Goa by researchersParag Rangnekar and Rohan Naik in collaboration with Dr K.A. Subramanian, the scientist withZoological Survey of India, Kolkata.

Robotic jelly fish Cyro, designed by a team of researchers at Virginia Techs College ofEngineering, is 5 ft, 7 in wide and weighs 170 pounds but is stealthy enough to one day be used as

an underwater spy for the military. Cyro, named after the jelly fish Cyanea capiliata, has eightaluminum arms and a white, flexible silicon covering.

Health / Diseases / Drugs

The Cabinet Committee on Economic Affairs approved the proposal of Department of AIDSControl, Ministry of Health & Family Welfare for the implementation of National AIDS ControlSupport Project(NACSP) under the National AIDS Control Programme (NACP). The amount forthis would be RS.2,250 crore.

India on May 14, 2013 unveiled its indigenously developed Rotavirus Vaccinenamed Rotavacafterthe Phase-III clinical trial of low cost rotavirus Vaccine. The Rotavac that has demonstrated strongefficacy and excellent safety profile; if gets its approval by the Durgs Controller General of India

(DCGI) than will be made available in the market at a rate of 54 rupees per dose.

New Sex Superbug can be More Deadly than AIDS Doctors have warned that the new sexuallytransmitted Sex-Superbug named H041 can be much more deadly than the AIDS virus. In 2011, thesuperbug was discovered for the first time in Japan and then it spread to Hawaii and now visible inNorway and California.

Vitamin-C Kills TB Scientists recently discovered that vitamin-C kills tuberculosis. Scientists inan experiment managed to kill lab grown tuberculosis (TB) bacteria with good old Vitamin-C. Ateam from Albert Einstein College of Medicine in New York made the finding while researchinghow TB bacteria become resistant to the TB drug Isoniazed.

New Concept of Needleless Vaccine Delivery System Developed The Indian Institute of Science(IISc) designed and successfully tested a new concept of needless vaccine delivery system in thelaboratory. The new device was the result of collaboration among the laboratory for hypersonic and

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shock wave, the Department of Aerospace Engineering, and the Microbiology and Cell Biologydepartment of the Indian Institute of Science.

Special Vaccination Programme The Union government had launched its four-week specialimmunization programme in high-risk areas across the country on May 2, 2013. The vaccinationsessions, is planned to be held for a week each in June, July and August 2013. The first specialimmunization week, which took place from April 24-30, was organised in collaboration with

UNICEF. The government has declared the year 2012-13 as the year of intensification of routineImmunisation. Intensification efforts saw the expansion of the Pentavalent vaccine to six morestates, after Tamil Nadu and Kerala. The pentavalent vaccine protects children from Hib pneumoniaand Hib meningitis in addition to diphtheria, pertussis, tetanus and Hepatitis-B.

Research from the Universidade Federal de Minas Gerais in Brazil have engineered spider proteinwhich could be the start of a new generation of anti-venom vaccines. Engineered protein may be apromising candidate for developing therapeutic serums or vaccines against other venoms.

Energy/ Gas/Oil

Amendments in Guidelines of JNNSM The guidelines for selection of solar power projects underthe Jawaharlal Nehru National Solar Mission (JNNSM), issued in July, 2010, incorporated thefollowing main provisions for allotment of the projects to companies on May 20, 2013. Amendmentsare as follows

Eligible Project Capacity 5 MW for Solar PV and 5 MW to 100 MW for Solar thermal projects.

Number of Applications by One Company (including its parent, affiliate or ultimate parent or anygroup company) Only one, limited to 5 MW for Solar PV and 100 MW for Solar thermal projects.

Net Worth of Company Minimum Rs.3 crore/MW for projects upto 20 MW capacity plusadditional Rs.2 crore/MW for each additional MW capacity.

Short-listing and Final Selection of ProjectsOn the basis of fulfillment of financial and technical criteria laid down in RfS document and discount offered by the project developers on CERC approved applicable tariff, as per

mechanism specified in RfP document.

Shale Gas Export to India Cleared USA granted conditional authorization to export domesticallyproduced Liquefied Natural Gas (LNG) to countries that do not have Free Trade Agreement (FTA)with it on May 18, 2013. It opens up the prospects of export of shale gas to India. The decision wasannounced by Department of Energy in USA. The gas will be exported from Freeport Terminal onQuintana Island in Texas.

Shale gasis natural gas that is found trapped within shale formations. Shale gas has become anincreasingly important source of natural gas in the United States since the start of this century.

Kundankulum Nuclear Power Project- Supreme Court gave its approval to KudankulamNuclearPower Project (KNPP) in Tirunelveli district on May 6, 2013. The Supreme Court disposed of a

public suit which seeks to halt its commissioning which wanted the government to submit a reporton the compliance of all safety steps before the plant is commissioned.

However the apex court gave detailed directions to the government on the safety and themonitoring of the plants operations. While giving its judgment Supreme Court said thatNuclear energy is extremely important for the countrys growth and a balance has to be madebetween the right to life and sustainable development.

KNPP Construction started March, 2002 but completion was not achieved 11 years later. Longconstruction times for nuclear reactors are common in India, but this delay is by some peoplebelieved to have been caused by anti-nuclear protests by the locals and peoples movementagainst nuclear energy. Recently, Atomic Energy Regulatory Boards inspection of the reactorpressure vessel of Unit-1 was completed and no defects therein were found.

The Tamil Nadu state government formed a four-member expert panel which submitted areport to the government after inspecting the safety features of the plant. The Tamil Nadugovernment, in the wake of the acute power shortages in the state, has ordered in favour of

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the commissioning of the plant. According to the Chairman and Managing Director ofNuclear Power Corporation of India Limited, KC Purohit, things are going on smoothly andthe loading of fuel assemblies into the reactor pressure vessel would begin by mid-August2012.

Environment

The Centre will establish a National Bureau of Water Use Efficiencyas an authority for promotion,regulation and control of efficient use of water in irrigation, municipal and industrial uses. This wasdecided in the first meeting of the Advisory Board of the National Water Mission(NWM) that wasestablished as part of the National Action Plan on Climate Change.

During the first meeting in New Delhi on May 3, 2013 the members were informed that theNational Bureau of water use Efficiency, will have the responsibility of improving water useefficiency across various sectors namely irrigation, drinking water supply, power generation andindustry.

Dolphins and Wild Elephants among Top 100 Mammals Facing Extinction Threat TheZoological Society of London in May, 2013 revealed that Indian dolphins as well as the wildelephants were among recent top 100 mammals facing the risks of extinction.

Status of Wild Elephants - The latest list of the endangered mammals rang an alarming bell,especially for the largest land mammal of Asia, the wild elephant, which ranked 17thon ZSL list.

Status of River Dolphins - River dolphin ranked 60thin the list of top 100 endangered mammals ofthe world. In India, in the river basins, these dolphins are found primarily in plains that have riverswith slow flow. At present, dolphins are found in Ganges-Brahmaputra-Meghna and Karnaphuli-Sangu river systems of Bangladesh as well as India.

Education

Delhi Universitys four-year undergraduate programme is now a reality with the Executive Councilapproving all the courses, examination schemes and amendments to university ordinances on May9, 2013 that are required to introduce the new structure from this July onwards.

The Academic and the Executive Councils in their meetings held on May 7-9, approved 55courses with a majority of 86-6 and 19-2. These courses had earlier been scrutinized by aStanding Committee of the Academic Council. Amendments to the university ordinances,including changes in nomenclature of degrees and admissions under reserved categories, werealso approved.

The four-year programme with multiple degree options will untail a shift from the present10+2+3 scheme to a four-year graduation with multiple exit points. Till now admissions forcandidates from the Scheduled Caste, Scheduled Tribe and People With disability (PWD) wereconducted centrally. From this year, Sc/St and PWD admissions will be decentralized andcolleges will declare a cut-off list for the students under these categories.

Instead of the baccalaureate degrees proposed to be offered under the four-year course, Councilmembers have come to a consensus that a diploma will be given if a student exits after two years,a bachelors degree after three years and a bachelors degree with honours or a B.Tech. degree oncompletion of four years.

Transport/Cars/Scooters

Civil Aviation Minister Ajit Singh, on May 3, 2013, asserted that the government of 12.1 billiondollars in the aviation sector in the 12th plan period (2012-2016). The rapidly expanding airtransport network and opening up of infrastructure to the private sector have fuelled the growth ofair traffic in India.

India-Backed Rail Link Commissioned in Sri Lanka The first phase of Sri Lankas northernrailway project, funded by a line of credit facilitated by India, was commissioned on May 14, 2013.Coaches chugged along from Medawachchiya in Anuradhapura, the North Central Province, toMadhu Road, marking the return of a crucial transportation link. Tracks along the 43 km stretch

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were reconstructed as part of the $800 million-project, being executed by the Indian RailwayMinistrys IRCON International Limited to restore the 252 km-railway line that would connectdifferent parts of the country.

Films / Film Festival

Filmmaker Anurag Kashyapwas conferred with the French honour Knight of the Order of Artsand Lettersfor his efforts in the promotion of Indian cinema across the globe on May 20, 2013. Indiawas the guest country at the 66thCannes International Film Festival.

Bollywood superstar Shah Rukh Khan has been conferred with the Chevalier Sivaji GanesanAward for 2012 on May 12, 2013. The Chevalier Sivaji Ganesan Award for Excellence in IndianCinema is given by Star Vijay as part of its annual Vijay Awards ceremony for Excellence in IndianCinema.

Union Tourism Minister K. Chiranjeevi inaugurated Incredible India exhibition which depictsIndian Film Industry growth during 66thCannes Film Festival.

66thCannes Film Festival:The following is a list of major prize winners this year:

Palme d Or : La Vie dAdele Chapitre 1 & 2 (Blue is the Warmest Colour) directed byAbdellatif Kechiche

Grand Prix (Prize) : Inside Llewyn Davis directed by Ethan Coen and Joel CoenJury Prize : Like Father, Like Son directed by Hirokazu Kore-EdaBest Director : Amat Escalante for HeliBest Actor : Bruce Dern in NebraskaBest Actress : Berenice Bejo in Le Passe (The Past)

Media/Telecommunication/IT

The President of India Pranab Mukherjee launched the Bichitra Tagore Variorum website at afunction at Jadhavpur University, Kolkata.

According to the Computer Emergency Response team, 48 government sites were hacked in 2013,371 in 2012 and 303 in 2010.

Samsung Electronics had successfully tested super-fast fifth-generation (5G) wireless technologythat would eventually allow users to download an entire movie in one second on May 13, 2013.

Nevadabecame the first US State that allowed its residents to play online poker for money, legally.Online poker gained legitimacy in Nevada in February, 2013. Other States that will legalise onlinepoker soon in US are Delaware and New Jersey.

WEBGIS The India-WRIS (Water Resource Information System) aims as a single windowsolution for comprehensive, authoritative and consistent data & information of Indias waterresources along with allied natural resources in a standardized national GIS framework with toolsto search, understand and analyse the data for assessment, planning and development and finallyIntegrated Water resources Management (IWRM).

Appointments/Election

Shashi Kant Sharma- The President of Indian Union, Pranab Mukherjee appointed Shashi KantSharma as the new Comptroller and Auditor General (CAG) of India on May 21, 2013. Hesucceeded Vinod Rai and assumed the office on May 23, 2013.

Laxman Singh Rathore The Director General of Meteorology and Permanent Representative ofIndia with World Meteorological Organization (WMO) was elected as the Member of ExecutiveCouncil of WMO during the 65thExecutive Council of WMO meeting at Geneva on May 19, 2013.

Brazilian Roberto Azevedo, 55, has been named to take thehelmof the World Trade Organization(WTO), on May 8, 2013. Career diplomat Azevedo beat veteran Mexican trade negotiator HerminioBlanco in the final round of the contest and is the first official from the BRICS group of emerging

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economics to take the job. He has been Brazils WTO Ambassador since 2008. Azevedo is the firstLatin American to be appointed as the head of the WTO since it was created in 1995.

Nirbhay Sharma has been appointed as Governorof Arunachal Pradesh on May 16, 2013 as theterm of present incumbent Gen (Retd) J.J. Singh ended in January, 2013.

The leader of the Indian National Congress K. Siddharamaiahsworn-in as the 22ndChief Ministerof Karnataka on May 11, 2013. He served as a Deputy Chief Minister of Karnataka twice (1996 &2004). A Legislative Assembly election was held on May 5, 2013 for 223 out of all 224 assemblyconstituencies in Karnataka, India.

Mittu Chandilya - Air Asia India appointed India-born and Singapore-based managementconsultant Mittu Chandilyaas its first CEO on May 15, 2013. He is one of the youngest airline CEOsin India. Air Asia India is a joint venture of the Malaysian LCC, Tata Sons and Telestra Tradeplace.

The Law and Railway ministries vacated by Ashwani Kumar and Pawan Kumar Bansal wereallotted to Kapil Sibbal and CP Joshi as additional charges on May 12, 2013.

The International Tea Committee (ITC), a global tea body, which held its annual general meeting(AGM) in London elected G.V.K. Bhanu, Chairman, Tea Board of India, as its Vice-Chairman with

Norman Kelly of the UK being elected the Chairman on May 2, 2013. Bhanus name was proposedby the US and supported by China and Sri Lanka.

Outstanding scientist G. Satheesh Reddyhas been appointed as Director of Research Centre Imarat(RCI), Hyderabad from May 1, 2013. Satheesh Reddy took over charge from S.K. Chaudurifollowing his superannuation on April 30, 2013.

Italy appointed Staffan de Mistura the Deputy Foreign Minister of Italy as the Special Envoy toIndia on Marines Issue on May 4, 2013. His appointment to the post was done by the Prime Ministerof Italy Enrico Letta.

The National Front of Malaysia led by Najib Razabon May 5, 2013 won by simple majority in the13thGeneral Elections to secure its 56-year hold on the power.

Infrastructure Development Finance Company (IDFC) has elevated its current Managing Directorand Chief Executive Rajiv Lallas the Chairman in place of Deepak Parekh who has stepped downfrom the post on May 1, 2013.

Former Indian spinner Laxman Shivaramakrishnanappointed as member of International CricketCommittee (ICC) on May 6, 2013. Laxman replaced Tim May. Anil Kumble is the President of thisCommittee.

Congolese-born Cecile Kashetu Kyengeelected as Italys first black Cabinet Minister on April 26,2013.

Bahrains Sheikh Salman bin Ebrahim al Khalifaappointed as the President of the Asian FootballConfederation (AFC) on May 2, 2013 replacing the disgraced ex-leader Mohammad bin Hammam.

Badminton Association of India (BAI) President Akilesh Das Guptawas elected to the BadmintonWorld Federations Executive Council in the election at Kuala Lumpur.

General elections were held in Malaysiaon May 4, 2013, following the dissolution of the Parliamentannounced by the Prime Minister on April 3, 2013. Malaysias Electoral Commission announced onMay 5, 2013 the ruling Barisan nasional(National Front) coalition had secured the parliamentaryseats needed to retain government. With a record 80% voter turnout this weeks opinion pollsshowed strong support for former Deputy Prime Minister Anwar Ibrahims three-party oppositionalliance.

Radha Krishnan Mathur, a 1977-batch IAS officer from the Manipur-Tripura cadre, took over as thenew defence secretary in South block on May 25, 2013. He replaces Shashikant Sharma, who hastaken over as the new Comptroller and Auditor General of India.

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Philippines former PresidentJoseph Estradawas declared the winner of Manilas mayoral electionon May 14, 2013, his first ballot victory since his ouster in a 2001 anti-corruption revolt and apossible prelude to a return to higher office.

Resignation/Dismissed/Retired/Quit

Pakistans Ambassador to the United States Sherry Rehmanhas resigned from her post followingthe defeat of Pakistan Peoples Party in general elections on May 14, 2013. Rehman, a formerjournalist and parliamentarian, was appointed as ambassador on November 23, 2011.

Paul Walsh, chief executive of drinks giant Diageo for 13 years, will step down as per theannouncement made by the company on May 7, 2013.

Law Minister Ashwani Kumar resigned following the resignation of Railway Minister PawanKumar Bansal. Ashwani Kumar was under fire from the opposition after the Supreme Court hadcome down heavily on the CBI for allowing the law ministry to vet the draft of CBI probe report onCoalgate.

Former Pakistani premier Yousuf Raza Gilani resigned from the post of vice-chairman of thePakistan Peoples Party, accepting responsibility for its resounding defeat in the general elections.

Paris Saint-Germain midfielder David Beckhamon May 16, 2013 has announced that he will retirefrom football at the end of the season. He made his first-team debut in 1992. With ManchesterUnited, Beckham won the Premier League title six times, the FA Cup twice, and the UEFAChampions League in 1999. He then played four seasons with Real Madrid, winning the La Ligachampionship in his final season with the club.

England defender Rio Ferdinandhas announced his retirement from international football on May15, 2013. He played 81 times for the England national football team between 1997 and 2011, and hasbeen a member of three FIFA World Cup squads.

Stiliyan Petrov, the captain of Aston Vil

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