Major News and Events of 07 February 2016
What Happened on 07 February 2016
Hong Kong seeks to strengthen Bilateral Trade and Business ties with India
Deutsche Bank Report expects India to meet 2015-2016 Fiscal Deficit Target
PM Modi inaugurates NISER in Bhubaneswar, Highlights need of Innovation
Gold Rush for India at SAG 2016
Environment Minister seeks more Data before commercially allowing Genetically Modified Crop
After senior Uttar Pradesh Minister and heavyweight politician of Samajwadi Party Azam Khan claimed that underworld don and Mumbai serial blast accused Dawood Ibrahim was present in the December 25, 2015 meeting of Indian PM Narendra Modi with Pakistan PM Nawaz Sharif in Lahore, union government has rubbished the claims as “baseless, unfounded and totally false”. While Sudhanshu Mittal of BJP asked UP CM Akhilesh Yadav to dismiss the minister immediately, Congress spokesperson Tom Vadakkan said Khan shouldn’t have made such a statement.
Margaret Fong, Executive Director of Hong Kong Trade Development Council (HKTDC), has said India is 7th largest global trading partner of Hong Kong and reminded the business community that last year the bilateral trade between the two countries was $ 23.7 billion. Export shipments to India increased by 8.1 per cent y-o-y. Hong Kong Special Administration Region Chief Executive C Y Leung said negotiation on Investment Promotion and Protection Agreement (IPPA) will start between two countries to strengthen bilateral economic and investment ties.
Report published by Deutsche Bank says it expects India to achieve its 3.9 per cent fiscal target in 2016 financial year. The report said that the fiscal arithmetic is credible because of the incorporation of realistic expenditure and revenue growth assumptions. Deutsche Bank report expects the Union Government to tighten its fiscal deficit target further in 2017 financial year to 3.8 per cent. Revised fiscal consolidation roadmap says government plans to set 3.5 per cent fiscal deficit target for 2016-17.
Science and Technology
Prime Minister Narendra Modi today inaugurated NISER (National Institute of Science Education and Research) in Bhubaneswar’s Jatani during his 2-days tour of Odisha. While delivering his inaugural speech, PM Modi asked the authorities to make this NISER the greenest campus of India. He emphasised on the fact that science and innovation are a priority currently for advancement of the society. PM Modi also lauded the efforts of Indian scientists as well as professors for doing something new always.
India is not only witnessing a gold rush but also dominating the 12th South Asian Games, especially in the medal’s tally. Till now, India is leading the chart by winning 14 gold and five silver medals. Second and third positions are held by Sri Lanka and Pakistan respectively. Injeti Srinivas, CEO of SAG 2016, claimed that all efforts will be made to ensure Guwahati and Shillong become the best sports venues among all South Asian games played till now.
Union Environment Minister Prakash Javadekar has said his government will verify more data before allowing Genetically Modified Crop to be marketed in India. While claiming his government will in no manner become an obstacle in the progress of science, inspite of the protests, he made it clear that further evaluation is needed before India moves ahead with advanced use of technology that provides better farm yields. He acknowledged that productivity of farms has to be increased to feed over billion population.