Major News and Events of 25 June 2016
What Happened on 25 June 2016
India achieves New height with ISRO's 20 Satellite Launch in 26 Minutes
Tata Group's Bloodbath and Fear of Job Loss among Indian Diaspora looms large after Brexit
PM Modi says India's accession as Full Member of SCO will help Protect Region
US expresses Confidence on India becoming NSG Member by 2016-End
BJP-RSS Leadership visibly upset on Swamy's Vitriolic Tirades
Neil O'Brien, one of the pioneering faces of quizzing in India, a profound educationist, ex-Chairman of Council for Indian School Certificate Examinations (CISCE), former MP and MLA (from West Bengal), passed away at the age of 82 years. He’s survived by his wife (Joyce) and three sons (Derek, Andy and Barry). WB CM Mamata Banerjee condoled the passing away of the “very talented” quiz doyen, who was not only the ex-chairman and MD of Oxford University Press but also a pioneering voice of the Anglo-Indian community.
Science and Technology
ISRO achieved new heights of success by launching 20 satellites into orbit in one go on June 22. This not only made India better its previous best of launching 10 satellites in one go but also close its gap with Russia’s 33 satellite (2014) and NASA’s 29 satellite (2013) launches in one go. Out of the 20 satellites launched, 13 were from companies and organisations belonging to the USA. While one satellite (Cartosat-2 for earth observation) was from India, other 6 satellites were from Indonesia, Canada, and Germany.
With UK embracing Brexit, Indian multinational Tata Group (salt-to-software conglomerate having 19 operating companies in UK employing 60,000 people) witnessed jittery investors dumping its stocks, leading to an aggregate market capitalisation loss of around Rs. 30,000 crore in a single trading day. Indian diaspora is also apprehensive of job loss. India’s travel companies, however, believe that free fall of British Pound after Brexit will help surge total number of Indian leisure travellers to Britain. RBI Governor Raghuram Rajan said fundamentals of Indian economy including low short-term external debt and sizeable foreign exchange reserves will help India cushion itself from Brexit ripples. Economic Affairs Secretary Shaktikanta Das assured India will not have long-term impact of Brexit because of strong domestic fundamentals.
While addressing Shanghai Cooperation Organisation (SCO) summit in Tashkent, Prime Minister Narendra Modi said India’s accession as full member of SCO will be beneficial for India. While SCO will benefit from India’s vast market as well as strong economy, India will benefit from the group’s strengths in the fields of natural resources and energy. PM Modi also said that full inclusion of India will help stronger ties between member countries, which will ultimately help protecting the region from threats of radicalisation and terrorism.
Just hours after 48-country’s Nuclear Suppliers Group was unsuccessful in reaching a decision on India’s full membership application in Seoul, a top Obama administration official has told PTI that “a path forward” is already in place and will achieve fruition “by the end of this year”. Though India solely blames China’s persistent hurdles to reaching a consensus among NSG members, reports say the other countries that supported a process-based entry include Brazil, Austria, Turkey, Switzerland, New Zealand, and Ireland. With NSG’s Seoul summit failing to reach a decision on India’s full membership, many experts have started to press on speeding up indigenous Fast Breeder Reactor programme that uses plutonium (available in abundance in India) instead on uranium to bypass the non-proliferation lobby and push forward civilian three-stage nuclear energy strategy.
With newly appointed Rajya Sabha MP Subramanian Swamy engaging in vitriolic tirade against Finance Minister Arun jaitley and speaking his mind against BJP government’s official stand at the center, BJP and RSS leaders are not happy. However, the top leadership is still in dilemma in dealing with him. Swamy was unfazed and warned of “bloodbath” (while on his official visit to China) after Jaitley called for restraint and discipline. He said that union ministers should do away with western attire and instead “wear traditional and modernised Indian clothes while abroad”.