Major News and Events of 16 July 2014
What Happened on 16 July 2014
Mayawati slams UP government
TRAI cuts ceiling tariff for DLC
US-based Pharmalucence gets acquired by Sun Pharma
Government sources reveal revamping of the Planning Commission
Sensex rises 80 points
BRICS launches New Development Bank
India select 32 athletes for the Commonwealth Games
AAP releases recorded audio message blaming BJP of horse-trading
Modi calls for solution to border dispute in meeting with Chinese President
The holy yatra of Char Dham to Kedarnath, Badrinath, Yamunotri and Gangotri has been halted due to heavy rains in the region. Due to heavy downpour and landslides, the National Highway connecting Rishikesh and Badrinath and the road between Kedarnath and Gaurikund have also been closed. Hundreds of pilgrims are reported to be stuck in the holy destinations. As per reports, 400 students along with yoga guru Baba Ramdev have also got stuck in Gangotri.
Mayawati, Bahujan Samaj Party chief, slammed Akhilesh Yadav, Uttar Pradesh CM, and his government for slashing the budget allocated for the women’s commission. An RTI query revealed that the government has adequate funds to buy two Mercedes cars and two Land Cruisers, but has downsized the budget for women's commission. Mayawati claimed that her party had launched many public welfare schemes during its rule, but many of the schemes have been closed by the Samajwadi Party. The RTI query also revealed that in the last three years, the allocation of funds has been reduced by over 85% by the Akhilesh government.
Science and Technology
The Telecom Regulatory Authority of India (TRAI) cuts the tariffs for the dedicated broadband lines, which are called DLC. The tariffs have been reduced by almost 60% for DLC, which is primarily used by the telecom operators and business houses. The reduced tariffs will come into effect from 1 August 2014. Ceiling tariffs have been reduced from Rs. 8.5 lakh per annum to Rs. 3.41 lakh per annum on leased line for 2Mbps that have a length between 5 km and 500 km. For 45Mbps, the rates have been reduced to Rs. 26.54 lakh from Rs. 61.59 lakh.
Sun Pharma, a drug major in the pharmaceutical industry has acquired Pharmalucence, a US-based pharmaceutical company. One of the subsidiaries of Sun Pharma has acquired Pharmalucence which is known for the sterile injectable capacity in the US. However, the details about the deal have not been disclosed by either side. Sun Pharma also acquired Ranbaxy Laboratories for USD 4 billion, earlier this year.
According to the sources, Prime Minister Narendra Modi is likely to revamp the Planning Commission soon. An advisory role will be played by the Commission in the government, which is likely to hold a think-tank kind of role by offering inputs in the policy making. Rao Inderjit Singh, Planning Minister had earlier indicated the need to streamline the role of the Commission. The Planning Commission, whose term is co-terminus with the government, is still to be restructured by the Modi administration.
A surge in the banking and capital goods stocks has resulted in a rise of 0.32 percent or 79.66 points in trading. Sensex at BSE opened at 25,322.17 points in the early session, which was 79.66 points above the previous day’s points that closed at 25,228.65 points. The Nifty was reported to be trading at 20.40 points in the early morning sessions.
To reshape the international financial system, leaders of the BRICS launched a development bank with a currency reserve pool worth $100 billion. The bank will be based in Shanghai and its operations will be controlled by India for the initial five years. Afterwards the operations will be presided over by Brazil followed by Russia. The bank has been named as New Development Bank.China will be contributing the maximum share in the currency pool, which amounts to $41 billion. India, Brazil and Russia will give $18 billion each, while $5 billion will be added by South Africa.
A team of 32 athletes have been selected by the Athletics Federation of India (AFI) for the Commonwealth Games to be held in Glasgow from 23 July 2014 to 3 August 2014. 17 women and 15 men athletes along with 12 coaches and three support staff have been selected by India for the track and field competitions. Gurbachan Singh Randhawa, Chairman of the selection committee said that the board has selected the best medal prospects, which are a combination of talented and experienced youngsters.
The Aam Aadmi Party (AAP) has released a recorded audio message of the party chief Arvind Kejriwal. In his message, he blamed the Bharatiya Janata Party (BJP) for adopting shrewd and unethical means to form the government in Delhi. The party is offering Rs 20 crore each to many MLAs. In an audio message, he said that if such a government would come to power, it will increase electricity bills, indulge in corruption and price rise. As per media reports, the message is being sent to different people.
Indian Prime Minister Narendra Modi in his first meeting with Chinese President Xi Jinping sought a solution to the "boundary question". The meeting took place in Brazil where both the leaders are currently present to take part in the BRICS - Brazil, Russia, India, China and South Africa - leaders' summit. Modi added that if the two countries could solve the border conflict then they can set an example of peace for the world. Modi asked for more Chinese investment in India’s infrastructure. China has invited Modi to the Asia-Pacific Economic Cooperation (APEC) meeting in November. This is for the first time that India has been invited for the meet. The discussion was freewheeling and went beyond the allotted time.