Major News and Events of 10 February 2015
What Happened on 10 February 2015
New GDP Growth Rate Calculation Pegs Indian growth Story at 7.4 Per cent for 2015
Emphatic Win by AAP Draws Comments from All Corners of the Political Spectrum
Suspected Iran Export Scam Makes Apex Bank Order Commercial Banks Tighten Monitoring
Reliance Industries Claims News of Illegal Swiss Bank Accounts Untrue
AAP Heading Towards a Historic Victory; BJP Concedes Defeat
India Wins Warm-Up Match Against Afghanistan Comfortably
Nokia CEO Meets Modi and Expresses Willingness to Become Part of Digital India
Irfan Pathan Expects India to Win against Pakistan in Adelaide
India Inc. Hails Decisive Victory of AAP
Biggest Winners and Losers of Delhi Assembly Election 2015
NASSCOM Releases Export Growth Projection and Reasons of Growth Concern
CPIM has congratulated people of Delhi for rejecting decisive politics of Bharatiya Janata Party. Statement issued by the largest organised Left party in India said that Arvind Kejriwal-led AAP has got a resounding mandate and they should formulate policies in favour of common people. Veteran CPIM leader and ex-Kerala CM Achuthanandan has said that Kejriwal got this decisive mandate because of autocratic functioning style and arrogance of Narnedra Modi. It needs special mention that Left parties had asked its cadres and supporters to vote in favour of AAP in 55 seats where they had not fielded candidates.
New methodology adopted for calculating growth rate of Gross Domestic Product of India has pegged 7.4 per cent for the year 2015 against 6.9 per cent for 2013-14. The new growth estimate, calculated according to the new methodology, of India’s GDP growth rate has become same as that of China. Per released data earlier, first quarter GDP growth rate for 2014-15 was 5.7 per cent and second quarter growth rate was 5.3 per cent.
Aam Aadmi Party has almost risen like a phoenix and won 67 seats out of the total 70 Delhi Assembly constituencies. BJP has managed to win just 3 seats. Yogendra Yadav of AAP has said that Delhi Assembly election has busted ‘so-called’ Modi magic. TMC’s Mamata Banerjee has said that AAP’s victory is a victory of people. P C Chacko of Congress acknowledged people’s verdict and vouched on behalf of his party to ‘start from the beginning’ and place it in order. Shiv Sena’s Uddhav Thackeray welcomed AAP’s victory. Venkaiah Naidu of BJP has said that the humiliating loss is not a sign of referendum against NDA government at centre.
Surfacing of suspected Iran export scam has made Reserve Bank of India ask commercial banks to tighten noose on deals regarding export financing. Investigators have claimed that they have uncovered a multi-billion dollar invoicing scam that has allegedly exploited billions of dollars of financial sanctions by Western countries against Iran. Reliable source in RBI has said that the new monitoring instruction of RBI to commercial banks has been issued on a probable misuse to funds to the tune of $3.2 billion, which has allegedly been paid out by UCO Bank in export advances.
Reliance Industries has told its employees that the company maintains multiple lawful international bank accounts. However, the communication done to RIL employees also claimed that the news about RIL’s Mukesh Ambani having illegal Swiss Bank Accounts is false. Today RIL said that it has associate companies and branches in more than hundred countries and RIL’s export turnover is more than Rs. 3,00,000 crore. The statement also claimed that these units of the company have bank accounts in foreign countries with proper approvals and therefore, the bank account with HSBC Geneva is not illegal. RIL also issued a statement that the company will cooperate with the investigating authorities.
Aam Aadmi Party is heading towards a landslide victory in Delhi Assembly election. Actual result that is pouring in seems to be outshining even the most optimist Exit Poll predicting 57 seats for AAP. Trends show that AAP is leading IN 60 seats (+32), followed by a distant BJP in 9 seats (-23), INC in 0 seats (-8), and Others in 1 seat (-1). BJP has already conceded defeat. Indian Bourses, which slid significantly yesterday, is trading in the green even when AAP’s massive victory is just a matter of time now. While NSE Nifty was trading at 8582.50, BSE Sensex was trading at 28,421.29 at 10.19am IST.
India won the final warm-up cricket match against Afghanistan by 153 runs before taking on Pakistan in the first match of World Cup Cricket Tournament. Indian cricket team’s win against the minnows became easier with 150-run knock from Rohit Sharma. India won the toss and elected to bat and put on 364 runs at the loss of 5 wickets. Afghanistan cricket team managed to put up just 211 runs in 50 overs at the loss of 8 wickets.
Irfan Pathan, ace all rounder of Indian cricket Team said today that the current Indian Cricket team is far superior to that of Pakistan’s. He wished good luck to the team and also said that his prayers are with them. Pathan went on to say that the team that manages pressures more efficiently becomes the winner in the 50-over ODI format. Irfan Pathan, while referring to the upcoming India-Pakistan match, to be played in the World Cup tournament in Adelaide, said that a match between the arch rivals is always a matter of pressure and it doubles in a World Cup match.
Science and Technology
Nokia Corp. today showed an interest in becoming a part of Digital India Initiative, an ambitious programme conceptualised by Prime Minister of India Narendra Modi. The CEO of the company Rajeev Suri today met the PM and discussed about his company’s willingness to actively participate in Digital India initiative through telecom and technology interventions. Suri has reportedly shown keen interest in participating in Make in India initiative, pet project of Narendra Modi to transform India into a manufacturing hub.
The biggest surprise of Delhi Assembly election 2015 is the loss of BJP’s Chief Ministerial candidate Kiran Bedi from BJP-stronghold Krishna Nagar constituency. She lost to AAP’s S K Bagga by 2,277 votes. Chief Ministerial candidate of Indian National Congress Ajay Maken lost from Sadar Bazar constituency by a huge margin of 51,176 votes. Kiran Walia of INC and Nupur Sharma of BJP lost to AAP’s Chief Ministerial candidate Arvind Kejriwal. Arvind Kejriwal won by 31,583 votes. AAP’s Manish Sisodia defeated BJP’s Vinod Kumar Binny by 28,000 votes. Other big losers are BJP’s Jagdish Mukhi, INC’s Sharmistha Mukherjee, and BJP’s Krishna Tirath.
Nasscom or National Association of Software and Service Companies has said that around $150 billion worth IT-industry’s export is expected to grow at a rate of 12 to 14 per cent in the 2015-16 financial year, which will start from April 2015. During the current fiscal, coming to an end in March 2015, export growth rate is estimated to increase at a rate of 12 per cent. However, it has also issued statement that the industry, especially cloud computing and mobile applications, may confront problem in its growth prospects due to shortage of qualified engineers.
India Inc. today not only praised Aam Aadmi Party’s decisive win but also shown interest in working closely with the AAP government of Delhi. Chairman of Confederation of Indian Industry (Northern Region) Zubin Irani has said that the new government will work towards strengthening Delhi socially as well as economically. He also hoped that AK-led government will be an industry-friendly one. FICCI also congratulated AAP for securing an emphatic win and hoped that new government in Delhi will create proper business environment for businesses to flourish.