Major News and Events of 03 October 2014
What Happened on 03 October 2014
16 Years of Wait is Ultimately Over – Indian Hockey Team Strikes Gold in Asian Games
India wins Two Gold Medals in Kabaddi
Stronger India-Russia ties is based upon Technological Cooperation between the two Countries
WTO Deadlock Continues
Insurance Sector Witnesses More Mergers and Acquisitions – Lack of Leverage is the Reason of Exit
Fitch Rating Agency is Positive on India's Banks and Economic Activities
Election Manifesto of Congress for Maharashtra Released
Election Manifesto of NCP for Maharashtra Released
MNS Chief Trains Guns against NCP Chief
PM's Address to the Nation Urging Indians to Buy Khadi
More Trouble Brewing for Jayalalitha
RSS Chief's Speech over National Broadcaster comes under Attack from Opposition
Science and Technology
Solar Technologies Demonstration Centre has been inaugurated today by the global life sciences and materials sciences company, Royal DSM, at DSM Engineering Plastics facility located in Pune. This facility will help in reduction of carbon dioxide footprint of the plant through renewable energy use, generated by solar plant for meeting 25 per cent of the electricity needs of the site. The solar technology centre has bee built in the first place for demonstrating and showcasing performance of solar technology innovations done by DSM.
India won Gold in its men’s hockey championship at Asiads after 16 long years. Moreover, it took 48 years to beat their arch rival Pakistan in Asian Games final. The final score of India-Pakistan duel in Incheon is 1-1 (4-2). India last won Gold in Asian Games hockey match back in 1998 in Bankok. This win has ensured a direct entry for Indian Hockey team to Rio Olympics to be held in 2016.
Penultimate day at Incheon Asian Games 2014 saw winning of two gold medals for India in the game of Kabaddi. Both men’s and women’s Kabaddi teams of India struck Gold by beating their Iranian counterparts. While Indian men’s team beat Iran 27-25, women’s team beat Iranians by 31-21. India has been winning Gold in this category since 1990, the year when Kabaddi was introduced in the list of games in Asiads.
Science and Technology
Third annual Moscow Open Innovation Forum will take place from October 14 to 16, where professionals from across the globe (including India) will gather. Promotion of young innovators is the main motive of this forum. Strategic cooperation between India and Russia is based upon partnership in technology and innovation. In September, Skolkovo Innovation Centre in Russia was visited by a team of delegates comprising representatives from technology universities and scientific research centres, led by Ministry of Science and Technology, India. Russian and Indian scientists are planning to build a Supercomputer, expected to surpass the potential of China’s Tianhe-2 computer.
On October 6, Trade Negotiations Committee is scheduled to meet on October 6. Trade Facilitation Agreement’s stalemate continues as Preparatory Committee on Trade Facilitation on September 29 was not able to find a solution to the deadlock. India and China has asked WTO to move beyond Bali deal and discuss the issues important to other countries, especially the developing ones. From attitude of developed nations it seems important issues of Doha Development Agenda have been shelved because of deadlock on Bali deal.
M&A in insurance sector has gained momentum in the last one and half years. 6 important stakeholders in insurance sector including DHFL Pramerica Life, Future Generali India Life Insurance, and Exide Life Insurance have shown their intent to exit. One of the main reasons for this, per analysts, is lack of leverage in this industry. Merger of ING Vysya Life Insurance with Exide Industries is one of the important developments. The merged entity was named Exide Life Insurance in May 2014.
Renowned rating agency Fitch expects betterment in Banks’ quality of assets with spurt in economic growth. For meeting Basel III capital adequacy norms, the banks of India would require additional capital of $200 billion in the coming 5 years. Election of new government having decisive mandate along with pro-reform mindset are two major reasons of Fitch’s positive outlook.
Congress has released its election manifesto for October 15 election. It has not only promised allocation of Rs. 500 crore drought fund but also is expected to hike income limit of health schemes’ beneficiaries to Rs 2.5 lakh from Rs. 1.5 lakh if returns to power. Demand for Vidarbha state has been dropped from the manifesto and promise has been made to allocate adequate funds for Vidarbha Statutory Development Board. For the welfare of denotified / nomadic tribes, INC has promised hiking annual budget by 5 per cent.
NCP has released its manifesto for upcoming assembly election. Some of the highlights of the manifesto includes free laptops for children who have passed Class Twelve exam, Rs 2,000-crore grant for Maulana Azad Minorities Development Corporation, effort in mobilising Rs 80,000 crore to complete irrigation projects, all-encompassing cover on insurance, sops for farmers in terms of insurance cover, etc.
MNS Chief Raj Thakerey has opened another front of attack. He has now trained his guns against NCP chief Sharad Pawar and accused him of being the main reason behind Shiv Sena – BJP split. He went on to say that the break in alliance was scripted by Sharad Pawar himself. Raj also asked the Maharashtra electorate to give him one chance to rule the state and they will witness what development really means.
On the occasion of Vijaya Dashmi of Durga Puja on Friday morning, Prime Minister addressed the nation through All India Radio as one of his many ways of reaching the masses. His speech revolved around pitching for Swachh Bharat Abhiyan, on one hand,and encouraging to buy Khadi, on the other. He again drew Gandhi’s instance for encouraging Khadi products.
Properties belonging to aides of J. Jayalalitha have been attached by a special court. The total acreage of land attached amounts to 3000 acres. According to the court, these lands were bought by Jayalalitha’s aides in and around Tamil Nadu’s Oothukkadu, Valajabad, Payanur, and Sirudavur by illegally raising money from public through fake schemes.
RSS Chief’s morning speech to the cadres of his organisation has been televised through Doordarshan, the national broadcaster. Opposition has accused Union Government of misusing the government’s media as a campaign tool for BJP’s ideology, RSS being the parent organisation of the ruling party at Centre. Opposition regards RSS as a non-secular entity. Though top officials of Doordarshan tried to play down the incident by referring it as a news event, opposition has called it a means of propagating Hindutva ideology.