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Starred Articles
Indian Union Budget 2014-15 announced
India > Union Budget
Finance Minister Mr. Arun Jaitley presented the Union Budget of India for 2014-15 on 10 July. The total
budgeted expenditure estimates including Plan and Non-Plan stand at Rs 17,94,892 crore. Out of this planned
expenditure is estimated at Rs 5,75,000 crore whereas non-planned expenditure is Rs 12,19,892 crore.
Highlights of the Union Budget 2014-15:
Tax proposals on indirect tax front would yield Rs 7,525 crore.
No changes in personal income tax slabs. But tax exemption limit has been increased to 250,000
from 200,000 for those below the age of 60. Income tax exemption limit for senior citizens has been
raised to 300,000.
Investment limit under Section 80C has also been increased to INR150,000 from the current
INR100,000
Housing loan rebate to be raised from Rs 1.5 lakh to Rs 2 lakh. FDI in real estate for low cost housing.
70.6 billion (US$1.2 billion) provided for the development of smart cities.
10 billion (US$170 million) provided for irrigation
5 new IITs in Jammu, Chhattisgarh, Goa, Andhra Pradesh and Kerala and five new IIMs in Himachal
Pradesh, Punjab, Bihar, Odisha and Maharashtra.
4 more AIIMS in Andhra Pradesh, West Bengal, Vidharbha, Purvanchal.
Rs 3650 crore for safe drinking water. More than Rs 26000 crore set aside for toilets and drinking
water in all girls' schools.
Rs 100 crore for training of sportspersons for upcoming Asian Games.
14,389 cr for the Pradhanmantri sadak yojna' for development of roads.
Rs 1000 crore provided for rail connectivity in northeastern region.
Rs 100 crore for modernization of madrassas.
Rs 50,548 crore proposed for Schedule Caste development.
National multi-scale programme Skill India to be introduced to provide training and support for
employment.
Key budget proposals across various sectors:
Agriculture:
Initial amount of Rs. 100 crore for climate change fund.
Banks to target Rs. 800000 crore to lend to agricultural sector.
Farmers who pay on time to get further incentive of 3%. They already getting loan at 7%.
Rs 5000 crore for infrastructure fund in agriculture. 24-hour news channel , Kisan TV, aimed at
providing farmers real time information on agriculture.
Rs 5 lakh allocation to Bhumeeheen Kisan groups through NABARD.
Science and Technology:
Turn 5 centres into research instituions. PPP model.
2 clusters for research in Kolkata and Pune.
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Defence:
Rs 2,29000 crore for defense.
FDI in defence up from 26 to 49 % with Indian management and control.
1 rank- 1 pension for army.
Capital outlay increased by Rs 5000 crore over interim Budget.
Rs 3000 crore set aside for police reforms.
Banking and Insurance:
Govt in principle agrees to consolidation of PSU banks.
6 new revival tribunals to be set up.
Banks will be encouraged to give long term funds & loans to the infrastructure sector.
FDI in insurance to be increased to 49%.
Energy and Transport:
Rs 4200 crore for Inland navigation.
NHAI to get Rs 37000 crore including Rs 3000 crore for North East.
Scheme for airport in Tier 1 and 2 cities under Airport Authority of India.
E-Visa facilities at 9 airports to facilitate visa on arrival.
Ultra-modern solar plant in Tamil Nadu, Rajasthan and Ladakh.
Additional 15000 km of gas pipeline to be developed.
Rivers:
4200 cr set aside for the Jal Marg Vikas project on river Ganga connecting Allahabad to Haldia,over
1620 km.
Rs 2037 crore for Integrated Ganga Conservative Mission.
Rs 100 crore for Ghat development.
Cheaper Costlier
LED/LCD TVs especially below 19 inch Cigarettes, Cigars
Footwear priced between Rs 500 to Rs 1,000 per pair Pan masala, Gutka and chewing tobacco, Jarda
scented tobacco
Desktop computers, laptops, tablets, e-book readers Aerated drinks with sugar, juices, flavoured water,
energy drinks
Soaps , RO based water purifiers Imported electronic products
LED Lights, fixtures and lamps Half cut/broken/polished diamonds.
Pre forms of precious and semi-precious stones Radio Taxi
HIV/AIDS drugs and diagnostic kits, Life micro insurance
policies
Portable X-ray machines
Branded petrol
Pre forms of precious and semi-precious stones
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Hamas rejects Egypt-backed ceasefire deal; war intensifies as 192
Palestinians die
World > Israel-Palestine
Israel has announced that it will agree to an Egyptian-backed ceasefire in the Gaza strip. However the
realization of the peace plan seems bleak as Hamas has rejected the initiative calling it "an initiative of kneeling
and submission." Israel said that it had accepted Egypts truce deal to give an opportunity for demilitarization
of the Gaza strip. However, if Hamas doesnt agree to the proposal, it had all international legitimacy to
broaden the military offensive.
Meanwhile, the war intensified with both sides resorting to heavy air-strikes. Since the start of Israels military
operation on Tuesday, 8th July, 192 Palestinians have been killed by airstrikes in Gaza. The UN has said that at
least 80 percent of the casualties have been civilians. 10 Israelis have been injured by rockets fired from Gaza.
No Israeli fatalities have been recorded so far. The sudden rocket strikes have sent people racing for bomb
shelters, but businesses remained open in Israel. However Gazas busiest areas remained deserted and
residents shifted to far away areas after buildings were demolished in rocket - strikes.
Report says 18 children go missing every day on an average in Delhi
India > Delhi
A new report on missing children by Alliance for Peoples Rights has found that 18 children go missing every
day in Delhi on an average, out of which 4 are never found. A total of 6,494 children disappeared in Delhi from
January 1 to December 31, 2013, the report said, citing Right to Information (RTI) replies from the Delhi Police.
3059 of them were girls and 2709 boys. Out of the 6494, 1443 children remain missing while the rest were
found by the police. Of all crime reported in Delhi, 12.36 percent are crimes against children and more than
50% of the rescued victims are from the deprived sections of society. There are many more cases which go
unreported and hence the number of missing children might be higher. Parents allege that the authorities are
not doing enough to bring back the children and prevent the occurrence of such cases in the future.
Major victory for India, China as WTO rules against the United States
World > WTO Verdict
The World Trade Organization has ruled against the United States on an April 2012 complaint by China and
India that the U.S. imposes hefty duties on products from the two Asian countries.
In an attempt to justify duties levied on products from India and China, the US has long ruled that both China
and India subsidize a number of goods slated by the nations for export, which goes against WTO policy. This in
turn presents what the U.S. calls unfair competition for domestic corporations.
The U.S. will now have to change the way it levies duties on Chinese steel and solar panels among other
goods; and Indian steel.
BRICS announces launch of $100 billion bank headquartered in China; 1st
President to be Indian
World > BRICS
Leaders of the BRICS (Brazil, Russia, India, China and South Africa) countries met in Fortaleza Brazil for the 6th
BRICS summit. The most important development of the 6th BRICS summit was the launch of a $100 billion
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bank, called the New Development Bank, and a currency reserve pool seen as an alternative to the Western-
dominated international financial system. The bank will aim at funding infrastructure projects in developing
nations and will be based in Shanghai, China. The first president will be Indian while the first board chair will
hail from Brazil. China is making the biggest contribution, $41 billion, followed by $18 billion each from Brazil,
India and Russia and $5 billion from South Africa. Brazilian President Dilma Rousseff left open the possibility of
using the fund to help non-BRICS nations, saying the group would be willing to "examine" any request from
Argentina, which is in danger of defaulting on its debt.
Poor sanitation and open defecation a major cause of malnutrition among
children, causes a major portion of worlds stunting problem
India > Malnutrition
An emerging body of scientific studies suggest that many of the 162 million other children under the age of five
in the world who are malnourished are suffering less a lack of food than poor sanitation. Half of India's
population, or at least 620 million people, defecate outdoors and rapid population growth has meant that
most Indians are being exposed to more human waste than ever before. A child raised in India is far more likely
to be malnourished than one from the Democratic Republic of Congo, Zimbabwe or Somalia, the planet's
poorest countries. Children who defecate outdoors are exposed to a bacterial brew that often sickens them,
leaving them unable to attain a healthy body weight no matter how much food they eat. Children become
stunted and lose height and intelligence permanently. Till now, the UNICEF and the WHO had focussed on child
malnutrition as entirely a result of a lack of food. Now, UNICEF officials and those from other major charitable
organizations said in interviews that they believe that poor sanitation may cause more than half of the world's
stunting problem. Stunting afflicts 65 million Indian children under the age of five, including a third of children
from the country's richest families. Not only does stunting contribute to the deaths of a million children under
the age of 5 each year, they also may face increased risks for adult illnesses like diabetes, heart attacks and
strokes.
Others
Saudi Arabia recruits Indian maids to ease labour shortage
World > Saudi Arabia
Under a new employment contract finalised by Saudi Arabia and India, Saudi Arabia has started issuing
recruitment visas for domestic maids from India. A joint Saudi-Indian working team has finalized the
recruitment contract based on the Agreement on Labor Cooperation for Domestic Service Workers
Recruitment signed by Minister of Labor Adel Fakeih and then Minister of Overseas Indian Affairs Vayalar Ravi
in January 2014.
The agreement contains several provisions to ensure the authenticity and implementation of the employment
contract, the recruitment cost, action against recruitment agencies violating laws and a mechanism to prevent
cheating by middlemen. It also seeks to establish a mechanism to provide 24-hour assistance to domestic
workers.
The standard employment contract provides minimum wages, working hours, paid holidays and dispute
settlement mechanism.
Although India has signed labor deals with various countries in the Gulf, this was the first time the country has
entered into a labor cooperation pact with the Kingdom.
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There are 2.8 million Indian workers in Saudi Arabia and Indians form the largest expatriate community in the
Kingdom. Of the around 500,000 domestic workers, mostly working as maids, helpers, drivers and cleaners,
around 10 per cent are women.
France presents anti-terrorism bill to crack down on Jihadists travelling to
fight in Syria
World > France
Frances interior minister has presented a new anti-terrorism bill aimed at stopping aspiring Jihadists from
travelling to fight in Syria and cracking down on other terrorist activities originating in the country. The French
government is deeply concerned about the radicalization of its nationals after official estimates said that
around 800 French citizens have gone to fight with jihadists in Syria or plan to go there. The bill includes a ban
on foreign travel of up to six months for individuals suspected of being radicalized, and gives authorities
powers to temporarily confiscate and invalidate their passports. Airlines will be banned from carrying targeted
passengers and will have to notify French authorities the moment one of them makes a reservation. If the
people targeted under the ban do manage to go abroad, they will be the subject of an international arrest
warrant. The proposed bill also provides for tighter legislation against online recruitment and asks internet
service providers to ban sites which promote acts of terrorism.
Over 9 lakh Pakistanis displaced by army operation in North Waziristan
World > Pakistan
Over 9, 00,000 people have been displaced in Pakistans North Waziristan, where the Pakistani army has
launched a major anti-terror offensive. Most of them complain of official apathy and are living in terrible
conditions without basics facilities in tents and slums in Bannu, 371km southwest of Islamabad. They had to
travel on foot for more than 24 hours to reach Bannu because of the absence of basic transport facilities. For
those who wished to enter Punjab to take shelter at a relatives place, the Punjab police denied them entry
and subjected them to humiliation and torture at police stations.
Over 1 million UK public sector workers on strike over pay issues
World > UK
Over a million public sector workers are on strike in the United Kingdom over pay caps, cuts in pensions and
jobs, changes in the age of retirement and privatization of public services. However, the main issue for the
strike is related to pay. The government froze salaries in the public sector in 2010, and in 2012 introduced an
annual 1 per cent cap on pay rises. This year too, the wage rise is only one percentage point higher than last
year. According to the Trade Union Conference (TUC), the umbrella organization of trade unions in Britain,
over 450,000 workers in local government earn less than the living wage. Pay freezes and pay rises below the
rates that prices are rising have left families in misery and underdevelopment. Amongst those on strike are
teachers, NHS workers, council workers (who include refuse collectors, parks attendants, caretakers for the
elderly, cleaners, etc) fire fighters, civil servants and transport workers.
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Canara Bank asks women applicants questions about their menstrual
history; states pregnancy as ground for immediate disqualification
India > Gender Equality
In a recent clerical cadre recruitment drive conducted by Canara Bank, a public sector bank, women applicants
were asked to give an account of their menstrual history, date of their last period and whether they were
suffering from any breasts- or uterus- related ailments. The women applicants were also asked if they were
pregnant, as pregnancy would be grounds for immediate disqualification. The questions about menstruation
and pregnancy were part of a longer questionnaire that asked if the new recruits suffered from a variety of
ailments including hypertension, diabetes, TB, cancer, HIV positive, hepatitis or any other chronic or
contagious diseases. The form mentioned that a candidate suffering from any of the chronic ailments would
not be recruited.
The bank has withdrawn their new form after protests by its employees in various parts of Kerala. Periods or
pregnancy cannot qualify as an 'ailment' and the questions asked display a complete disregard for gender
equality. It also points to the way a woman's natural body functions are used as the basis for gender
discrimination. These questions would amount to violations of Articles 14 to 16 of the Constitution which
promise equality before law on grounds of religion, race, caste, sex or place of birth and equality of
opportunity for all citizens when it comes to employment in public services.
Bharti to sell 3100 of its 15000 towers in Africa to reduce huge debt
Corporate > Bharti Airtel
Bharti Airtel has announced the sale of nearly 20% of its 15,000-strong tower infrastructure in Africa. The
move is aimed at reducing the over $10-billion debt of the company. Bharti said that its subsidiary, Bharti Airtel
International (Netherlands) BV (BAIN), and Helios Towers Africa (HTA) have signed a deal for around 3,100
telecom towers spread across 4 of the 17 African nations where Bharti operates. Airtel will have full access to
towers from HTA, an independent towers company in Africa, under a long-term lease contract. Bharti had
entered Africa by acquiring Zains operations in 2010 and the buyout is the primary reason for the huge debt of
the company. Although it has 86 million subscribers in Africa, its operations in the African continent have been
in losses.
Refugees from South Sudan expected to reach 7, 15,000 by year end as
crisis worsens
World > South Sudan
The United Nations refugee agency said that the number of South Sudanese fleeing for neighboring nations is
expected to reach as many as 715,000 by years end, more than double the number envisioned when the
agency began a funding appeal four months ago for refugees from South Sudan, which has been ravaged by a
civil war and is on the verge of famine. The agency revised its funding appeal to $658 million from the original
$371 million and warned that without urgent contributions, the consequences could reach drastic proportions.
Further adding to the crisis is a cholera outbreak that first appeared two months ago. It has spread, infecting
more than 2,600 people and killing more than 60.
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Maratha, Muslim reservation in Maharashtra gets approval
Economy > Maratha - Muslim reservation
The Maharshtra state government has issued an ordinance for Maratha and Muslim reservation in education
and jobs. As per the ordinance signed by governor K Sankaranarayanan, there will be 16% reservation for
Marathas and 5% for Muslims in government-run schools/colleges, and jobs. The state will soon issue a
government resolution after which the reservation will come into effect.
Experts, however, allege that it is a half-baked ordinance that will have to face many legal hurdles, and will
need the new state government's approval for its continuity.
Reservation for the Maratha community had triggered opposition from Other Backward Class (OBC) groups
which pointed out that the Marathas were dominant and politically influential and could not been classified as
backward.
18 Indians have joined ISIS: Report
India > Indians in ISIS
In a major concern for India and its security agencies, investigations into Pune blast revealed, four Indian
Muslim youth are suspected to have joined Sunni militant group ISIS in Iraq.
Intelligence Bureau has warned that the movement of Saudi Wahabi preachers in Kerala and Tamil Nadu, if left
unchecked, will lead to more Indians being brainwashed and eventually joining ISIS founder Abu Bakr Al-
Baghdadis militia.
Western nations, which suspect around 2,000 youths from Europe and the US to be fighting in West Asia, have
already woken up to this threat in their own countries. With India already in ISIS crosshairs, agencies are
working overtime to track these elements.
Citigroup to pay $7 billion to settle U.S. mortgage probe
Corporate > Citigroup
Citigroup has agreed to pay $7 billion in fines and consumer relief to resolve government claims that it created
a wrong impression among investors about the quality of mortgage-backed bonds sold before the 2008
financial crisis.
The settlement includes a $4-billion civil penalty, which according to the US Justice Department was the largest
to date under a reform of the banking sector that followed the crisis. In addition to the $4-billion civil penalty,
Citigroup will pay $500 million to the federal government. The remaining $2.5 billion will be paid in various
forms of consumer relief and will be distributed by the end of 2018.
The settlement doesn't absolve Citigroup or its employees from facing any possible criminal charges.
Germany wins the FIFA World Cup 2014
Sports > Football
Germany became the 2014 FIFA World Cup champion for the fourth time after defeating Argentina 1-0 at the
Maracana Stadium in Rio de Janeiro, Brazil. Germany also became the first European country to win a World
Cup played in North or South America.
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FIFA Awards for World Cup 2014:
Golden Ball - Lionel Messi (Argentina)
Golden Boot - James Rodriguez (Colombia)
Golden Glove - Manuel Neuer (Germany)
Best Young Player - Paul Pogba (France)
FIFA Fair Play Trophy Colombia
Lok Sabha passes TRAI Bill amendment
Politics and Government > TRAI Bill
The Lok Sabha has passed a bill to amend the Telecom Regulatory Authority of India (TRAI) Act which will pave
the way for appointment of former TRAI chairman Nripendra Misra as principal secretary to Prime Minister
Narendra Modi. The bill replaces an ordinance brought by the National Democratic Alliance (NDA)
government, to amend the act which prohibited its chairman and members from taking up any other job in the
central or state governments after ending of their office terms.
Following the amendment, they can take up Central or State Government jobs, or positions in private telecom
companies, two years after demitting office. However, with prior approval from the Central Government, they
can be reemployed even before the completion of two years.
Deodorant market in India grows five-fold since 2009
Economy > Deodorant Market
According to a report, the market size of deodorants, between 2009 and 2014, jumped from Rs 500 crore to Rs
2,300 crore. The market is growing at around 18 percent annually, and the growth in rural markets that
account for a tenth of deo sales, is 29 per cent. Small-town, low-end brands like Diana, Dynamite and scores of
other shave joined big city, high-end brands like Axe, Engage,Fogg and their ilk to revolutionise the deodorant
business in India. A staggering 986 varieties of deos (from 500 brands) are sold across markets, with as many as
103 recent launches.
As per Nielsen data, established brands like Park Avenue, Old Spice, Nike deos aren't the top players. Fogg
enjoys a 12.5 per cent market share followed by Engage (8.1 per cent), Axe (6.9 per cent) and Wild Stone (6.9
per cent).
Aditya Birla Group set to merge all retail businesses
Corporate > Aditya Birla Group
Aditya Birla Group has embarked on a plan to restructure the retail business of the group and create one listed
company for this vertical. Kumar Mangalam Birla aims to de-merge Fashion & Lifestyle vertical from Aditya
Birla Nuvo and create a retail umbrella company led by Madura Garments. Madura Garments, Pantaloon
Fashion & Retail, Jayashree and More are likely to be merged as part of the process.
Aditya Birla Group is planning to raise about Rs 3,000 cr by selling close to 20% stake in the retail business to at
least two PE firms. It is in talks with large private equity players like KKR, Carlyle, Apax, Temasek, Blackstone to
sell a minority stake in the company.
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Documents Show General Motors Kept Silent on Fatal Crashes
Corporate > General Motors
Documents known as death inquiries, which The New York Times obtained through the Freedom of
Information Act reveal that General Motors might have known about defects in its cars linked to accidents and
deaths over the last decade for which it is facing numerous lawsuits but chose to remain silent. G M didnt
provide any answers to Federal authorities about a Saturn Ion crash which led to the death of one Gene
Erickson. However, it has been revealed that an internal investigation commissioned by GM had found out a
month before that the Ion had most likely lost power, disabling its air bags. G.M.'s response, as well as its
replies to queries in other crashes casts doubt on how forthright the automaker was with regulators over a
defective ignition switch that G.M. has linked to at least 13 deaths involving Cobalts and Ions over the last
decade.
Rikers Island Officers Routinely Beat Mentally Ill Inmates: Report
World > USA
A secret internal study at Rikers Island, New York City's main jail complex, uncovered the disturbing levels of
officer brutality against inmates, majority of whom are mentally ill. The Department of Health conducted study
found a staggering 129 inmates were seriously injured by officers over an 11-month long period last year.
Seventy-seven percent of the severely injured inmates had a mental illness diagnosis.
The treatment of mentally ill inmates at Rikers, who make up 40 percent of the population at the notoriously
violent jail, has been under intense scrutiny in recent months after the Associated Press reported on the
deaths of two inmates, one of whom "baked to death" in a 101-degree cell. These cases have prompted New
York City officials to call for oversight hearings looking into the violence plaguing the jail.
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