Current news and views oct 2014 Prime Minister Narendra Modi launches Swachh Bharat Abhiyan on birth anniversary of Mahatma Gandhi to make India a clean country; Cleanliness drive being undertaken across the nation. The campaign is aimed at making India a clean country by 2019, the 150th birth anniversary of Mahatma Gandhi. the government has brought Hemant Contractor, former managing director of the State Bank of India as the chairman of the Pension Fund Regulatory Authority of India (PFRDA). Wasan is NIA Special Director-General Senior Indian Police Service officer N.R. Wasan, presently the second in-command in the National Investigation Agency, has been granted the post of Special Director-General. Mr. Wasan, a 1980-batch officer of the Andhra Pradesh cadre, has earlier served the Central Bureau of Investigation in various capacities and is now with the Central agency that has been probing several sensitive cases pertaining to national security. After the former NIA chief, Sarat C. Sinha, had joined the National Human Rights Commission, Mr. Wasan was given the charge of NIA Director-General till the appointment of the present NIA chief Sharad Kumar. The Election Commission has released a set of new guidelines, making it virtually mandatory for political parties to deposit their funds in banks and not to exceed ceiling limits in financial assistance for candidates. Under the guidelines, the treasurer of a political party is now required to ensure maintenance of accounts at all state and lower levels and consolidated accounts at the central party headquarters. Under the guidelines, a party should ensure that no payment in excess of 20,000 rupees is made to any person or company in cash, except in a village or in town, not served by a bank. Reconstituted Accounting panel to hold meeting on Oct. 11 The recently reconstituted National Advisory Committee on Accounting Standards (NACAS) will hold its first meeting on October 11, its Chairman Amarjit Chopra has said. This meeting -- to be held in the capital -- will reiterate Governments commitment made in the budget as regards adoption of IFRS converged standards by Indian companies. Finance Minister Arun Jaitley had in his maiden budget speech announced that Indian companies will adopt IFRS converged standards from financial year 2016-17, and voluntarily from 2015-16. IFRS stands for International Financial Reporting Standards (IFRS), a set of internationally recognised accounting standards. The Centre had on September 18 constituted 13-member NACAS including representatives of chambers of commerce and some regulatory bodies. The main purpose of setting up NACAS is to advise the central government on the formulation and laying down of accounting policies and accounting standards. Prime Minister Narendra Modi has not decided whether to appoint U.S.-based economist Arvind Subramanian as the governments chief economic adviser The post of chief economic adviser is a high-profile position that was last filled by another internationally renowned academic long based in the United States, former International Monetary Fund chief economist Raghuram Rajan, who is now Indias central bank governor. Traditionally, the chief adviser is responsible for producing the annual Economic Survey - a document on the state of economy that underpins the drafting of the budget - and a mid-year economic update that is presented to parliament. RBI to up FPI debt investment limit in a steady manner: Raghuram Rajan Reserve Bank Governor Raghuram Rajan today said the cap on foreign portfolio investments in the government debt will be increased in a steady and measured manner. We want a steady increase in limits, a measured increase so that we understand what is happening and we see the market develop as these limits are increased. We do think FPIs are extremely important to market development, he told analysts in a conference call today. With FIIs reportedly exhausting over 95 per cent of the USD 25 billion investment limit in government debt, Rajan hinted that there is no need to increase the limit immediately. As short-term debt rolls over, that frees up more space in government bonds and so its not as if that space is completely shut out and over time we will re-examine and see what we can do, he said. It could be noted that the RBI had in July increased the investment caps for FIIs in government securities by USD 5 billion to USD 25 billion, within the total limit of USD 30 billion. Meanwhile, RBI Deputy Governor Urjit Patel also said that the country is not in talks with global bond indices for an inclusion in the emerging markets category, even though there are obvious advantages like attracting more funds. Main issue which the index people are asking is to totally remove the ceiling on FPI investment in government bonds. Because of our capital account management issue, we are not in a position to do that but in a progressive manner we will increase, Deputy Governor H R Khan explained. Patel said that the country did get a fillip after the upgrade in revision in the outlook by S&P and added, I think we are in pretty good shape without being a part of the index. India contributes $1 million to UN women’s body Underscoring its commitment to the UN’s body on gender equality and women empowerment, India has contributed $1 million to the organisation for the current financial year. External Affairs Minister Sushma Swaraj handed over the cheque as India’s contribution to the core voluntary budget of UN Women (United Nations Entity for Gender Equality and the Empowerment of Women) to Under-Secretary General and Executive Director of UN Women, Phumzile Mlambo-Ngcuka, here yesterday for the 2014-2015 financial year. The contribution constituted the fifth instalment of India’s multi-year pledge to provide core predictable funding to UN Women’s resources and takes India’s existing total contribution to $5 million to the UN body. Swaraj reaffirmed the Indian Government’s steadfast commitment to the goals of UN Women, including gender equality, gender mainstreaming and highlighted the important role played by UN Women in the formulation of the post-2015 Development Agenda, including the use of information and communication technology for development, according to a statement issued by the Permanent Mission of India to the UN. India is one of the founding members of the Executive Board of the UN Women, and is currently serving on the UN Women’s Executive Board. The first Hindu-American Congresswoman Tulsi Gabbard has promised Prime Minister Narendra Modi to lead an effort towards a Congressional resolution in support of International Yoga Day. Facebook founder Mark Zuckerberg/Amazon founder Jeff Bezos and Microsoft boss Satya Nadella /Facebooks Chief Operating Officer Sheryl Sandberg India set to enter global nuclear club India has completed all the requirements for membership to the Nuclear Suppliers Group (NSG) and Missile Technology Control Regime (MTCR). India won the prestigious hockey gold of Asian Games today by defeating defending champion Pakistan, in process also booking 2016 Rio Olympic berth.
Posted on: Fri, 03 Oct 2014 05:21:49 +0000
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