Major News and Events of 04 September 2014
What Happened on 04 September 2014
Zawahri to Form Al-Qaeda Militant Wing in India
FIPB will remain under Finance Ministry
Telecom Department Examining 'Made in India' Fund Proposal of $1 Billion
Sania Mirza reaches US Open Final in Mixed Doubles
Court Rules Against Land Transfer to DLF
UK wants India to Open Up Legal Sector to UK Law Firms
ISRO meets to discuss the landing of Mars Orbiter on Mars
ASUS Launches its First Smartwatch
Surinder Kohli gets Death Warrant from Court
Electricity Subsidy Approved by Lt Governor Najeeb Jung in Delhi
India may not get Rating Upgrade from S&P
The Narendra Modi government overlooked the apprehensions of judiciary as well as opposition parties and appointed P Sathasivam, the former Chief Justice of India, as the new Governor of Kerala. He is the first ever retired CJI to be appointed as Governor. Many in the judiciary including former CJI VN Khare believe this move will set a bad precedent as this may the way for political intervention in independent judiciary.
Al-Qaeda leader Ayman al-Zawahri announced his plan of establishing a branch of Al-Qaeda in India.Vowing to ‘raise the flag of jihad’ and also spread ‘Islamic’ rule across the Indian subcontinent, Zawahri, in a 55 minute long video, renewed his loyalty to Mullah Omar, the Afghan Taliban leader. Following it, the Home Ministry of India not only issued a countrywide alert but also sent teams to sensitive areas for investigation.
Foreign Investment Promotion Board or FIPB will continue to be under Finance Ministry. There was a tussle between the two departments - Department Of Industrial Policy and Promotion (DIPP) and Finance Ministry – on the issue of this inter-ministerial body. However, Prime Minister Narendra Modi turned down DIPP’s plea to control FIPB.
A PMO note forwarded to Telecom department raised speculation that $1 billion (equivalent to Rs 6000 crore) fund will be floated to start 'Made in India' technologies for boosting local gadget manufacturers. According to the proposal, now being examined by the National Manufacturing Competitiveness Council, the proposed fund will be distributed among promising start-ups that are promoted by scientists and technocrats, provided the products are manufactured and developed in India itself.
India’s ace woman tennis player Sania Mirza reached the Mixed Doubles Final of US Open. Mirza and her mixed doubles partner Bruno Soares beat Ross Hutchins and Y.J Chan 7-5, 4-6, and 10-7. It took them one hour and thirty six minutes to beat the unseeded Chinese Taipei-British pair. Sania and Bruno were the winners of 2012 Mixed Doubles US Open.
The Haryana government’s decision of allotting 350 acres of land in Wazirabad during 2010 to DLF has been set aside by the the Punjab and Haryana High Court. The market reacted sharply to this news and the stocks of DLF slipped 5 per cent. The court delivered its decision in response to set of petitions filed by farmers against land transfer to DLF.
UK Justice Minister of Indian origin Shailesh Vara said that it will be a win-win situation for both UK and India if the latter opens up its legal sector to global law firms. Shailesh, who has his Indian roots from Porbander, Gujarat, is on a 3-day visit to India. He made it clear that by vouching for UK Law Firms to practise in India, he is not referring British lawyers to practise in Indian courts.
Science and Technology
Spacecraft Authorisation Committee of ISRO met today to discuss the plans of test-firing the main engine of Mars Orbiter Mission (MoM) before it lands on Mars surface on September 24, 2014. If ISRO becomes successful in the first attempt, India will become the first ever country to be successful in Mars Mission at the first attempt. European Space Agency, Russia, and the US succeeded in it only after repeated attempts.
Science and Technology
Taiwanese device maker ASUS has unveiled ZenWatch, its first smartwatch. This device runs on Android Wear operating system and comes with a user interface, ASUS ZenUI, which has been developed especially for this device. This wearable gadget is priced at 199 euros (around Rs. 16,000 on currency conversion) that features quick-release clasp design, leather watchband, and curved display. It is expected to be released in India by 2014-end.
Surinder Kohli, infamous for Noida Nithari killings, has been issued death warrant by Ghaziabad sessions court related to heinous killing of a teenager named Rimpa Halder back and four other cases of killing children after sexually abusing them. The concerned warrant has been sent to the UP government to make necessary arrangements for executing Kohli. Earlier this year, on July 27, 2014, President Pranab Mukhejree had rejected mercy petition of Surinder Kohli.
Around 28 lakh consumers or 84 per cent of total consumers in Delhi will be benefited by electricity subsidy up to Rs 1.20 per unit, approved by Lt Governor of Delhi - Najeeb Jung. Arun Goel, Power Secretary of Delhi, said that the subsidy will be applicable from August 11, 2014. As Delhi is under President's rule, Union Finance Minister Arun Jaitley on July 18, 2014 presented the Delhi budget in Parliament. Electricity consumption from 201 to 400 units will be subsidised by Rs 0.80 per unit and Rs. 1.20 per unit up to 200 units.
India may not get upgraded sovereign rating from the renowned international rating agency – Standard & Poor’s (S&P). The agency is still expressing ‘cautious optimism’ on India. Some of the areas where they are concerned about include inadequate measures for attracting foreign investment, lack of subsidy reforms, and over-optimistic target for tax collection. Sovereign rating of India may not get upgraded this time but they may change their outlook from negative to stable (from ‘BBB-‘ to ‘BBB’).