Major News and Events of 11 July 2015
What Happened on 11 July 2015
PM Modi calls launch of PSLV-C28 by ISRO a Moment of "Pride and Joy for India"
Industrial Production Slowed Down in May 2015
India becomes Full-fledged Member of Shanghai Cooperation
JDU-RJD Alliance suffers Setback as it wins just 10 out of 24 Seats in Bihar Legislative Council Elections
BRICS Bank President Kamat says NDB will start Lending in Local Currency by April 2016
Indian tennis players had a great day yesterday as Leander Paes as well as Sania Mirza, both partnering with Martina Hingis, reached the finals of Mixed Doubles and Women’s Doubles of Wimbledon respectively. While this is the best showing of Sania Mirza in women's doubles Grand Slam title in Wimbledon, Leander Paes will be winning sixteenth major trophy if he wins the Mixed Doubles final. In the women’s doubles semi final match, Sania and her Swiss partner Martina Hingis beat 5th seeded pair from USA Raquel Kops-Jones and Abigail Spears in straight sets 6-1 6-2. It took the Indo-Swiss pair 56 minutes to win the match. The final will be played today evening between Sania-Hingis pair and E. Makarova - E. Vesnina duo. In the semi-final match of Mixed Doubles, Leander Paes and Martina Hingis pair defeated American partners Mike Bryan and Bethanie Mattek-Sands 6-3, 6-4.
Science and Technology
Commercial launch capability of ISRO reached a new high yesterday evening when the Indian space agency successfully launched Polar Satellite Launch Vehicle (PSLV-C28), carrying 5 UK satellites from Sriharikota’s Satish Dhawan Space Centre at 9.58pm. Within 20 minutes from launch, PSLV-C28 placed one De-OrbitSail (technology demonstrator nanosatellite that was manufactured by Surrey Space Centre), one CBNT-1 (auxiliary earth observation micro satellite), and three identical DMC3 satellites for optical earth observation. It is the heaviest (in terms of overall liftoff mass) ever commercial launch by ISRO ever. AS Kiran Kumar, Chairman of ISRO, regarded it a wonderful launch and expressed satisfaction of placing all the satellites in orbit for their UK customers. Prime Minister Narendra Modi today congratulated ISRO for successfully making the commercial launch, second one this year after June 30, 2014, and called it “a moment of immense pride & joy for India”.
Industrial production has come down from 5.6 per cent in May 2014 to 2.7 per cent in May 2015. This slowness of growth took place mainly because of the deceleration in manufacturing sector. Report shows that mining activity in May 2015 witnessed some pick-up. Index of Industrial Production (IIP) for April’15 has also been revised from earlier estimated 4.1 per cent to 3.36 per cent in April’15. Manufacturing sector constitutes 75 per cent of the IIP. When fiscal growth rate for April-May 2015 is pitched against the corresponding period last year, deceleration is witnessed from 4.1 per cent to 3.36 per cent. Power sector also witnesses marginal slower growth in May’15 (6 per cent) from corresponding period last year (6.7 per cent in May’14). Production output in consumer durables, consumer goods, and consumer non-durables decelerated by 3.9 per cent, 1.6 per cent, and 0.1 per cent respectively.
Prime Minister Narendra Modi yesterday thanked Shanghai Cooperation Organisation for making India its full fledged member, upgrading from erstwhile observer status. PM Modi assured the group that India will work closely to combat extremism and terrorism and will strive to integrate as well as reconnect different regions of Eurasia. He also said during SCO’s 15th plenary meet that accepting India as a full member of SCO (that consists of China, Russia, Uzbekistan, Tajikistan, Kyrgyzstan, and Kazakhstan) reflects natural historical links. SCO wants to build connectivity and also form Regional Anti-Terrorist Structure (RATS) for enhancing regional security. Meeting of PM Modi and Pakistani PM Nawaz Sharif on the sidelines of BRICS and SCO summit has been hailed by both the countries but Sharif has been criticised by Pakistani media for excluding Kashmir issue from the joint statement. PM Modi has reached Turkmenistan as part of his ongoing Central Asia tour.
Strategy of coming together of the erstwhile constituents of Janata Party seems to have fallen apart if the poll results of the recent Bihar Legislative Council Elections are taken into account. Alliance of Janata Dal (United) and Rashtriya Janata Dal has won just 10 seats out of the total 24 seats in this election, which has raised many questions on the prospect of the formation of Janata Parivar. Reports say that as fallout of this election result, RJD chief Lalu Prasad Yadav has decided to skip Sonia Gandhi floated Iftaar party in Delhi on Monday. However, Lalu has asked media persons not to read between the lines of his absence because he will be busy organising an Iftaar party himself in Patna that day. In a major boost to BJP-led NDA just before the upcoming Bihar Assembly election, NDA won 13 seats in the Legislative Council Elections.
The first President of New Development Bank (the bank, floated by the constituent countries of BRICS) KV Kamath has said that major focus of the bank will be to provide credit facility to BRICS’s member countries. He also said that one of the paradigm shifts in NDB’s approach will be to provide loans to different countries in terms of local currency and it will be started from as early as April 2016. Kamath went on to add that New Development Bank’s Board of Governors will meet in the next few months to take a final decision on the issue of open membership for countries other than the constituent members of BRICS. NDB chief has also said that the $100 billion capital corpus will be used in creating various types of credit instruments so that big projects can be financed for development in the constituent BRICS countries.