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Major News and Events of 25 July 2014

What Happened on 25 July 2014


In 2013-2014, Gold Imports Stood at 638 Tonnes

With a decline of 25 percent over the last fiscal year, the gold imports stood at 638 tonnes in the year 2013-14. In a reply written to the Lok Sabha, Minister of State for Finance Nirmala Sitharaman mentioned that the imports in 2012-13 were 845 tonnes and 919 tonnes in 2011-12. The imports pushed the current account deficit (CAD) to USD 88.2 billion or 4.7 percent of GDP in 2012-13. Now, the CAD is brought down to USD 32.4 billion or 1.7 percent in 2013-14.

JD-U and RJD Disagree Over Alliance

Some leaders of Rashtriya Janata Dal (RJD) and Janata Dal United (JD-U) have protested the proposed tie up between both the parties. Raghvendra Pratap Singh, RJD legislator said, “It is not good for the party and no discussion was held in the party over it". Several party legislators from JD-U including Dinesh Kushwaha and Rajiv Ranjan are also against the alliance. RJD chief Lalu Prasad Yadav said, "This is the right time for talks on poll alliance. We will take a decision about it after talks between the leaders of both parties”.

Narayan Rane meets Rahul Gandhi

Narayan Rane met Congress vice-president Rahul Gandhi today seeking a leadership change in Maharashtra. Rane resigned from his post of Maharashtra Industries Minister while raising a revolt against Maharashtra Chief Minister Prithviraj Chavan. According to media reports, he described the rationale behind demanding a change in leadership in the Assembly-poll bound state. It is likely that he will meet Sonia Gandhi along with Chavan and PCC president Manikrao Thakre to find a solution to the situation.

Arun Jaitley: India will not have to wait for long to bring back black money

Finance Minister Arun Jaitley has said that the government is concerned about bringing back black money hoarded abroad. He said "Country will not have to wait for long for bringing back black money. We are giving all information received from abroad on black money to Supreme Court".  While addressing the Lok Sabha during the presentation of the Finance Bill, Jaitley said, “Retrospective tax sends a bad signal, doesn't help economy. Government will take a final view on retrospective tax laws".

India Summons Pakistani Diplomat Over 26/11

India has filed a diplomatic protest against the adjournment of the ongoing trial of the 26/11 Mumbai attacks. According to a source, the Deputy High Commissioner of Pakistan has been summoned by the Foreign Ministry to complain against the delays. An Indian Deputy High commissioner has been sent to Islamabad to file a similar protest. Sujatha Singh and Aizaz Ahmad Chaudhary, Foreign Secretaries of both the nations are scheduled to meet next month in Islamabad to discuss the issue.

Government asks UPSC aspirants to withdraw their agitation

As the Union Public Service Commission (UPSC) civil services aspirants protests against the alleged bias against Hindi and other regional languages, Minister of State for Personnel, Jitendra Singh has said that the students should call off their protest, and the issuing of admit cards should not cause panic among them. Singh said, "Government is worried about this issue. It will not want discrimination against Hindi and other language students. We are serious about the matter and request aspirants to be patient".

RBI: Indian Banks will not be Allowed to Trade in Bonds for Infra Lending

Deputy Governor of the Reserve Bank of India, R. Gandhi said that the Indian banks will not be allowed to trade bonds issued by other lenders for infrastructure lending. Last week, the Central Bank exempted banks from holding each other’s bonds, while it allowed lenders to issue bonds for infrastructure lending. He also said, “Restriction on cross holding does apply to trading also. The idea is funds to come from outside the banking system”.

Goa Chief Minister: UP roads are not safe for girls after 6 PM

Goa Chief Minister Manohar Parrikar was only highlighting the issue of safety of women, but his statement raised a controversy when he said that girls “disappear” if they go out in the evening in Uttar Pradesh. He said, “Any girl can walk without fear on Goa streets even at midnight. But in Uttar Pradesh, if a girl walks out at 6 in the evening, she will disappear". His statement has resulted in a stream of controversial comments from several ministers.