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Major News and Events of 07 December 2012

What Happened on 07 December 2012


EGoM reduces base price for 1,800 Mhz auction

There was a recommendation by an inter-ministerial group on Friday to lower the base price for 1,800 mega hertz (Mhz) spectrum by 30 percent for four circles which were not sold in the auction conducted last month.The four circles include Delhi, Mumbai, Karnataka and Rajasthan.The Empowered Group of Ministers (EGoM) also will auction spectrum of 900 Mhz in Delhi, Mumbai and Kolkata along with the sale of 1,800 Mhz.Last month's 2G spectrum auction could only collect Rs.9,407 crore from a minimum expected Rs.28,000 crore target.The reason as per the industry was the high reserve price fixed by the government.The reserve price for the four unsold circles in the last auction for 1,800 Mhz were Rs.693.06 crore for Delhi, Rs.678.45 crore for Mumbai, Rs.330.12 crore for Karnataka and 67.08 crore for Rajasthan circle.Sibal stated that auction process will be completed within this fiscal end.

Yeddyurappa's Sunday rally: Will BJP government fall in Karnataka?

The BJP is preparing for the possible fall of its government in Karnataka as former leader B.S. Yeddyurappa will launch his own party on Sunday.The ex-chief minister left the Bharatiya Janata Party (BJP) on Nov 30 to form the Karnataka Janata Party (KJP).Yeddyurappa was not happy when he was not made BJP chief of the Karnataka unit after being forced to resign from the chief minister's post in July last year. He has mining bribery charges over him. He will take over the position of KJP president on Dec 9 at a rally in Haveri,350 km from Bangalore. Yeddyurappa stated that between 400,000 and 500,000 people will turn up at the rally. It has to be seen though how many BJP ministers and legislators attend the rally, defying the orders of the leadership that they will be expelled if they attend the rally.

Inflation primary concern for Reserve Bank: Subir Gokarn

Few days ahead of the mid-quarter review of the monetary policy, on December 18, Reserve Bank of India (RBI) Deputy Governor Subir Gokarn stated that inflation remains the primary concern for the central bank. In the scenario where the growth in the second quarter (July-September) has dipped to 5.3 per cent, demands for a rate cut by the RBI has risen to boost the economy. The chairman also stated that RBI should not do anything that will offer some short-term stimulus to growth. Many analysts believe that the central bank will hold the rates on December 18 as inflation remains high, at 7.45 per cent in October. Even in the last policy announcement, the RBI had left the short-term lending rates unchanged at 8 per cent.

Kejriwal to meet Anna to rectify mistakes

Two days after Anna Hazare’s comment that he would not vote for the newly launched Aam Aadmi Party, Arvind Kejriwal, its leader stated that he would discuss with Anna and rectify the mistakes. He said he would ask him what has come up in his mind as few days back he had said that he would extend support to his party. Hazare on Thursday had specified that the split in anti-graft movement was because Kejriwal was fascinated with power and so he would not vote for the Aam Aadmi Party. Anna had also said that the new-launched party was following the same path as others by taking the path of "money through power" and vice versa. When Kejriwal was asked whether Hazare's comment would have any effect on his party, he stated: "No..I will talk to him. I will ask him what went wrong... whether we did some mistake. We will then rectify ourselves if we made mistakes.” He also further added, "It is good that we have Anna as like a moral authority."

Champions Trophy: Australia thrash India 0-3 in semi-final

India lost to Australia in the semi-final by 0-3 and was not able to reach the final of men's Champions Trophy hockey again.World No.11 India will now face arch-rival Pakistan, world No.9, for the bronze medal while Australia will surge ahead for a record five consecutive Champions Trophy titles and will face the Netherlands in Sunday's final.India and Australia both had a mission. The Aussies wanted to reinstate their positions again as the unbeatable team in men's hockey after missing out the Olympic gold medal, while the Indians wanted to reinforce their national team programme on the eve of the launch of the Hockey India League. But Australians were way ahead of Indians in the match.

Hrithik has lifelong dream to work with Shekhar

Actor Hrithik Roshan, as per reports has been given the lead role in Shekhar Kapur's ambitious film "Paani". He said it has been his dream to be directed by Shekhar Kapur. When he was asked that whether he has signed the contract he stated that he is working out with Shekhar to see how the things work out. He further stated that he is eagerly looking forward to working with the filmmaker as his company is comforting for him. He said,"On a personal equation, Shekhar Kapur is kind of an enlightened soul. So when I am with him, I feel a little enlightened, I feel a little good about myself." he added.

4th gen iPad prices revealed

Apple has revealed the price of the 4th gen iPad with Retina in India and the device is now officially up for sale. The latest iPad with slightly updated version of the third generation model comes for Rs. 31,900 for the 16GB version, Rs. 37,900 for the 32 GB model and Rs. 43,900 for the 64 GB variant. The Wi-Fi + Cellular model on the other hand, is priced at Rs. 39,900 for the 16 GB version, Rs. 45,900 for 32 GB of storage and Rs. 51,900 for the 64 GB capacity. The 4th gen iPad specifications include 9.7-inch, LED-backlit IPS display, Resolution of 2048 x 1536p, Oleo-phobic screen coating, Dual core A6X processor with quad core graphics, 5MP iSight camera with AF and face detection, 1.2 MP FaceTime HD Camera capable of 720p video, 42.5Wh battery and Lightning connector, Wi-Fi, Bluetooth 4.0