Major News and Events of 08 June 2015
What Happened on 08 June 2015
New LG Flagship G4 Smartphone Price and Date of Launch Confirmed
Cash-for-Vote Case kick starts Political Storm as Chandrababu Naidu Ministry celebrates First Anniversary
PM Modi wins over Bangladesh with Assurance of Teesta Issue Resolution
"Janata Parivar" announces Nitish Kumar as its Bihar CM Candidate; Congress part of "Secular" Alliance
Railway Minister gives Highest Priority to Jharkhand for its Rich Mineral Reserve
High-Level India-Japan-Australia Trilateral Meetings Starts Today in New Delhi
Indian Bourses Continue Poor Run; May'15 Data of Mutual Fund Encouraging despite Volatility
Moody's expects Steel Price in India to remain under Pressure in 2015-16
Derecognition of Ambedkar Periyar Study Circle withdrawn by IIT – Madras
Bangladesh Offers to Establish Two SEZs Solely for Indian Companies
India Finishes 3rd as Tintu Luka wins Gold in women's 800m Finals of 21st Asian Athletics Championship
Science and Technology
Defence Research & Development Laboratory’s eminent scientist Dr Prakash Chand Jain has been conferred with the prestigious Dr Biren Roy Space Science and Design award. Governor of Karnataka, Vajubhai Vala, handed over the award to Dr Jain. While receiving the award, Dr Jain wished success for “make in India” initiative and went on to say that Indian space science will progress with the scientists’ dedicated works, overall passion for both technology and science, improvement drive, accountability, commitment, persistence, and quest for knowledge. He dedicated the award to his team. Jain is a BOYSCAST (DST) Fellow from Pennsylvania State University, USA and is an alumnus of IIT Bombay and IIT Roorkee. He is currently associated with IIT Delhi. Dr. Prakash Chand Jain said that he is confident India will emerge as a global leader in technology.
Science and Technology
LG India has revealed pricing of its 2015 flagship smartphone, LG G4, even before the launch of the handset on 19 June. Though there has been no official announcement on price of the phone, LG G4’s price is listed Rs. 51,500 on LG India’s website. Last week, price of dual-SIM enabled LG G4 by a third-party online retailer was showing Rs. 49,999. The official listing at LG India’s site showed model number of LG G4’s Dual SIM (Dual LTE) variant as H818N. Two variants will be launched on 19 June and they are LG G4 Dual SIM (Dual LTE) and LG G4 Dual SIM. Both the SIMs are capable of supporting 4G connectivity. Reports say that pre-orders of LG G4 has already started and it will continue till June 25. The pre-order consumers will be able to receive LG G4 directly from Bollywood legend Amitabh Bachchan.
As one year old Chandrababu Naidu’s government prepares to celebrate its first anniversary today, an audio tape surfaced that allegedly has a conversation between N Chandrababu Naidu and MLA Elvis Stephenson where the former tried to bribe the latter for supporting TDP in Telangana Legislative Council election. Though Parakala Prabhakar, Advisor (Communications) to Andhra Pradesh government, called the tape to be a political conspiracy against Naidu government, a political storm has already started in the cash-for-vote' controversy. Chandrababu Naidu (CM of AP) has already filed multiple cases against K Chandrasekhar Rao (CM of Telangana) on the twin issues of illegal phone tapping and defamation. The action comes at a time when Anti-Corruption Bureau of Telangana prepares to summon AP CM Naidu for questioning on note-for-vote scandal. Andhra Pradesh government has decided to complain to Union Government against Telangana Government’s allegedly snooping on Chandrababu Naidu.
Prime Minister Narendra Modi on his last day of Bangladesh tour yesterday at Bangabandhu Convention Centre of Dhaka University, assured Bangladesh of finding a fruitful solution to Teesta river water sharing issue. He specifically said that “water cannot be a political issue” and the problems regarding Teesta can be sorted out through “humanitarian approach”. He urged Bangladesh to not lose confidence in India. Teesta river water sharing issue is important to Bangladesh because during December-March duration water flow comes down from 5,000 cusecs to 1,000 cusecs. PM Modi also walked the extra miles and won over Bangladeshi audience by starting his speech in Bengali, national language of Bangladesh, and interspersed his one-hour long speech with many Bengali sentences. He lauded the heartfelt reception of Bangladesh and went on to appreciate Bangladeshi PM’s effort of making development of the country as her only goal.
Still to be formed “Janata Parivar” has ultimately announced Nitish Kumar as their Chief Ministerial candidate. The “secular” grand electoral alliance of Janata Dal (United) and Rashtriya Janata Dal for the Bihar assembly election also include Indian National Congress. A six member committee (formed from three candidates each from RJD and JDU) will meet tomorrow to discuss on the seat sharing formula. Nitish Kumar also met Congress Vice President Rahul Gandhi. When inquired, Nitish said that they discussed about the importance to form secular alliance to defeat BJP in Bihar. RJD chief Lalu Prasad Yadav is expected to meet INC President Sonia Gandhi today on possible talks on the proposed alliance between Congress and “Janata Parivar”. Reports say that Nitish Kumar’s name as CM candidate of Janata parties was proposed by RJD chief Lalu Prasad Yadav himself.
After inaugurating South Eastern Railway’s Sini-Rajkharsawan third line of 16.5kms (comes under Chakradharpur division), Union Railway Minister Suresh Prabhu said that his ministry is currently giving importance to the state of Jharkhand and is going to develop railway network throughout the state in the coming three years. He also said that the main reason behind such focus is the presence of rich mineral reserves in Jharkhand, which is important for development of Indian economy. During the ceremony, Jharkhand CM Raghubar Das accompanied Prabhu. During the programme, four additional loop line projects (Urma, Nagjua, Barkipona, and Harubera) were also launched for easing railway traffic in Adra-Chandil, Ranchi-Lohardaga, and Muri-Barkakana lines. Railway minister also said in a programme that his ministry is all set to commission pantry cars in long distance trains and establish base kitchen in all stations.
New Delhi is hosting first ever high-level trilateral meeting among India, Australia, and Japan. The main issues that will be the focus of this meeting include strengthening military relationship, stress on joint naval exercises, and closer security ties. Though erstwhile UPA2 government tried to initiate such a move but it was shelved due to strong resistance from China. However, Narendra Modi led NDA government has taken up the initiative again in a new approach, starting it at Foreign Secretary level. Reports say that the first such meeting will be attended by Peter Varghese (Secretary of the department of foreign affairs and Trade, Australia), Akitaka Saiki (Vice Foreign Minister of Japan) and S Jaishankar (Foreign Secretary of India). Meeting will start by reviewing developments in the South China Sea along with current security of region’s economic environment.
Poor run at Indian bourses continue as both BSE Sensex and NSE Nifty fall by 245 points and 70.55 points respectively. Today Sensex hit a nearly eight month low as it closed at 26,523.09 point. In the last five trading sessions, BSE Sensex has dropped 1,326 points. 50-share NSE Nifty closed today at 8,044.15, a drop of 0.87 per cent since previous close. Therefore, Nifty slid below the psychologically important 8,100 support level. Analysts believe today’s continued poor performance was due to fear of droughts leading to over selling of FMCG stocks, fear of Fed rate hike by US Federal Reserve, and RBI's cautious approach to economic recovery. Sun TV’s stock nosedived 22 per cent as MHA refused to provide security clearance to its 33 TV channels. However, a SEBI report showed that in spite of volatility in the market, Rs 4,200 crore were invested in mutual funds.
Global rating agency Moody’s has said that they expect the steel prices in India to remain under pressure throughout the current fiscal. However, the report also says that the demand for steel will pick up once sales of commercial vehicles increases. Kaustubh Chaubal, Senior Analyst of Moody’s, said that during 2015-16 financial year, there are hardly any chances of steel prices coming down as there are no chances of steel imports to come down. However, he went on to say that the worst phase of both JSW Steel and Tata Steel are over. Chaubal while analysing the reasons of poor performance by the steel industry in India said that 2014-15’s steel realisation was poor because of the low domestic demand for steel in India coupled with rise in imports from South Korea, Russia, and China.
Derecognised Ambedkar Periyar Study Circle (APSC), Dalit student body, has been reinstated by IIT Madras after the premier institute faced continued protest from civil society as well as democratic forces in India. The enlightened student’s body was derecognized by Indian Institute of Technology –Madras on allegation of carrying out discussions that are critical about the Narendra Modi-led Union Government. Reports say that APSC was banned after IIT Madras received direction from Union Human Union Human Resource Development (HRD) Ministry for acting against APSC for allegedly criticising Prime Minister Narendra Modi. It is learnt that HRD ministry sent such a direction after receiving 'anonymous' complaint against the concerned study circle. Opposition parties and its leaders including Congress Vice President Rahul Gandhi and JDU leader Ali Anwar had called MHA’s instruction of ban on APSC as a blow to freedom of speech as well as expression.
Bangladesh, in an effort to boost bilateral trading ties with India, has offered to establish two Special Economic Zones (SEZs) exclusively for Indian companies. This is in addition to allowing Life Insurance Corporation (LIC) to initiate operations in Bangladesh. The two proposed SEZs will be located in Bangladesh’s Bheramara and Mongla regions. Bangladesh Economic Zones Authority’s executive chairman, Paban Chowdhury, said that one of the SEZs in Mongla will be constructed near under-construction government sponsored SEZ. With this development, India becomes the third country in Bangladesh, after China and Japan, that has shown intent in building SEZ. While providing details, Chowdhury said that India wants 477 acres of lands in Bheramara and 200 acres in Mongla for setting up the two SEZs. He also said that the two SEZs will be constructed out of the USD 2 billion credit line provided by India to Bangladesh.
India won 4 gold, 5 silver and 4 bronze medals at 21st Asian Athletics Championship to finish third in the international championship. India was tied in the third position with Japan till the penultimate day of the championship but snatched the position from Japan on the last with Tintu Luka’s gold win in the women's 800m finals. At Wuhan Sports Center, national record holder 26-years-old Luka snatched gold by finishing the race of 2:01.53. The silver and bronze medals at women’s 800m finals were secured by Zhao Jing of China and Nimali Klarachchige of Sri Lanka. In the tournament, China came at the top followed by Qatar, India, Japan, and Bahrain. While China won 15 golds, 13 silvers and 13 bronzes, Quatar won 7 golds, 2 silvers, and 1 bronze.