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Major News and Events of 07 November 2014

What Happened on 07 November 2014


Harsh Vardhan Does it Again

Harsh Vardhan, Health Minister of India, seems to have grave issues with the anti-graft officers. After removing AIIMS’s Chief Vigilance Officer Sanjiv Chaturvedi, Union Health Minister has now removed another anti-graft officer - H K Jethi, Medical Council of India’s CVO. Therefore, the ministry has not only failed to provide protection to the concerned officer from threats and intimidation but also removed the officer. Many point out that BJP is giving protection to the corrupt after assuming central power instead of getting rid of it, as mentioned in their election manifesto.

Modi Stresses Modernisation of Textiles in Varanasi

Indian PM Narendra Modi visited his constituency Varanasi today and stressed on the fact that textile industry provides employment to people belonging to lowest economic strata. In fact, it is one of the largest employment generators in India after agriculture. He pitched for modernisation of textile and stressed on utilising the power of e-commerce to reach unexplored global market. As Varanasi is well known for creating Banarasi sarees, he said that a huge market opportunity will open up if global markets are explored through more use of technology.

RBI Deputy Governor hints at No Rate Cut

Deputy Governor of RBI, H R Khan, said during a speech delivered in Mumbai that there is no possibility of easing inflation in the short term. He also observed that due to supply chain constraints, inflation in rural areas is so high. These observations have serious repercussions because many in the market were vouching for a rate cut as consumers prices led inflation came down to 6.46 per cent in September 2014, lowest in two years and nine month duration.    

India and Israel to Strengthen Ties to Combat Terrorism

Indian Home Minister has reviewed existing ties with Benjamin Netanyahu, PM of Israel, on dealing with terror issues. They have also discussed about the future possibilities to enhance engagements. Netanyahu has said that the possibilities of strengthening ties seemed bright between the countries when he met Indian PM in New York two months back during Narendra Modi’s US visit. Rajnath Singh has also shown his keenness of strengthening ties with Israel.

Will 79 Loss Making PSUs be Privatised?

Arun Jaitley, Finance Minister said that his government is in favour of privatising the loss making public sector units, which are under the jurisdiction of Union Government. This statement has given hope to private players as well as government coffers as estimates show huge losses, to the extent of Rs. 55,656 crore during financial year 2012-13, incurred by the central government due to seventy nine loss making PSUs.

Goa CM to Resign and Assume Charge of Defence Ministry

Manohar Parrikar, current Chief Minister of Goa, will resign from his position on 8 November 2014 and has said that he will fulfill the responsibilities that his higher leadership bestows upon him. New CM of Goa will also take oath on Saturday itself. The 58-year-old politician is expected to assume charge of Defence Ministry from Arun Jaitley soon. Initial reports point out that he will be first made a Rajya Sabha member because to become a Union Minister one has to become an MP first.

Indians Can Make Free/Low Cost International Calls with Hangout App

On November 6, 2014 Google has made an important announcement for the Indians, specially those who have to make international calls. If an Android based smartphone user has Hangouts application or a Gmail user uses Hangouts, then he/she can make overseas voice calls either at low cost or absolutely free. For getting this facility an user has to install Hangouts Dialer application on the android device he or she is using.

Anand to Face 'Tenacious' Opponent

World Chess Championship is going to be held at Sochi. The tournament is going to kick-start on November 8, 2014. Indian ace chess player Viswanathan Anand (who has won this tournament 5 times) is all set to face a strong contender Magnus Carlsen. Anand has described Carlsen as ‘tenacious’. This is the same opponent who defeated the Indian grand master in 2013 in Chennai.

New Government Proposal to Increase Power Generation

Union Government wants to increase power generation to the tune of 39,000 million units, thereby enhancing valuation by Rs. 25,000 crore on an annual basis. To achieve this end, Power Ministry has decided to pool domestic gas with regasified liquefied petroleum gas, which is generally imported from other countries. According to estimates of the ministry, this move will help in operationalising many gas based power plants that are stranded for now. Estimates shows that cumulative capacity of these stranded plants is 16,107 Mw.

Is WTO Deadlock Coming to an End?

Renewed chances of talks between India, United States of America, and European Union on WTO issues has brightened. Reports point out that India has agreed to ease custom rules and EU / USA have agreed upon more flexible food laws. However, India will sign only if the global powers reach to a consensus on contentious food security issue.

Saradha Scam: Former TMC Leader Arrested

Asif Khan, former Trinamool Congress leader of West Bengal, has been arrested by CBI on corruption charges, related to multi-million Saradha Scam. As per sources, Asif Khan had given crucial information on involvement of multiple Trinamool leaders with one of the biggest financial scams in the history of Indian democracy. Bidhan Nagar police arrested Asif Khan on November 6, 2014.

Mega Investment Plans for Power Sector

Union minister for power, coal and renewable energy has said during his speech at India Economic Summit that government is taking it seriously to allow more participation of private players in power sector. As per Piyush Goyal’s statement, power sector in India is going to witness a massive investment, to the tune of Rs. 15.3 lakh-crore or US $250 billion, in the coming 5 years.