Major News and Events of 25 May 2015
What Happened on 25 May 2015
Microsoft retains No. 1 Spot as Software Vendor in India in terms of Revenue
BJP Spokesperson says they will Scrap Article 370 when they have Majority in Parliament
Call Intercepts by Indian Intelligence Prove Mumbai Blast Mastermind Dawood still in Pakistan
PM Narendra Modi to Address Mathura Rally on Eve of one Year in Office
JD(U)-RJD Seat Sharing hits a Roadblock as RJD refuses to Declare Nitish Kumar Common CM Candidate
Delhi Constitutional Crisis to Aggravate as AAP Government Prepares to Pass Two Resolutions during Emergency Session
CII President says No Big Bang Investment in One Year of Modi Government
Sensex and Nifty falls by Over 1 Per Cent on Monday
UBI Loses Hope of Recovering Rs. 400 crore Consortium Loan from Kingfisher Airlines
Mumbai Indians wins IPL T-20 2015 Title by defeating Chennai Super Kings Convincingly
Science and Technology
Secretary of Department of Science and Technology (DST), Ashutosh Sharma, said that the government has kick started its Rs. 4,500 crore project, currently in its nascent stage, to have its own 70 super-computers to be located in different parts of India. The work will take place in a collaborative manner with Department of Information and Technology (DIT) and DST. Reports say that these supercomputers will initially have speed or capacity from half petaflop to 20 petaflop, which will increase to 50 petaflop when the project reaches its peak. It is learnt that these supercomputers will help in high-level research in multiple fields including defence simulation, climate, earth science, biology and material science, and computing. Sources say that modalities have been formed by the Narendra Modi government for discussing details of the project. Reports say that it will take 7 years for project completion.
Science and Technology
Report published by IT advisory firm Gartner shows that in terms of revenue earning in 2014, Microsoft is still the No. 1 software company in India. The software behemoth still accounts for 25 per cent of the total sales in the year 2014. The top three companies that command half of the total software sales in India are Microsoft, Oracle and IBM. IT advisory firm Gartner said that software revenue of India increased by 8.3 per cent in 2014 in comparison to 2013, an increase from $3.7 billion to $4 billion. Research Director at Gartner, Bhavish Sood, said that better economic growth of India, stable government, increased spending in growth initiatives, and improving global economic conditions are giving impetus to India’s software industry. Indian software market is growing at highest rate among all the BRICS countries, reports say.
BJP's national spokesperson Sambit Patra said that his party will scrap Article 370 if they have the required numbers in parliament. To repeal Article 370, BJP will need 2/3rd majority in the parliament for amending the constitution. Sambit Patra made it clear that abrogation of Article 370 is still one of the core issues which the saffron party believes in but can’t do it right now as they are short of the required numbers in the parliament. While admitting the fact that both BJP and PDP have many conflicting ideological issues their alliance has given a historic opportunity to all regions of J&K to witness development, good governance, and stability.
Indian intelligence reports, intercepting calls of Mumbai blast mastermind Dawood Ibrahim, confirm that the underworld don is still living in Pakistan under the patronage of the country’s intelligence wing ISI. A few days back Abdul Basit, High Commissioner of Pakistan, claimed that the notorious gangster is not present in Pakistan. However, these intelligence reports prove his claims to be a lie. Dawood was regularly talking over phone with an associate named Tariq Parveen from Pakistan, few months before making calls to his close associate in India Javed, who looks after the gangster’s business interests (including narcotics, real estate, betting and match fixing, hawala, extortion, and others) in India and Dubai. Uttar Pradesh ATS arrested Tariq Parveen earlier this year. Reports claim that NSA Ajit Doval has already held several meetings with multiple agencies to track down the Mumbai Blast mastermind.
Prime Minister Narendra Modi is delivering his first speech out of the 200 rallies planned by BJP to mark completion of the government’s one year in office amid tight security arrangements. The rally is taking place at Deen Dayal Dham rally ground, located in BJP ideologue Pandit Deen Dayal Upadhyaya’s ancestral village Nagla Chandrabhan. Reports say that the place has been turned into a fortress as Rapid Action Force’s 5 companies, Provincial Armed Constabulary’s 8 companies, 7 SP-rank officers, 2 additional SPs, and 19 deputy-SPs have been deployed in the venue. Modi started his speech by saying that he is the “Pradhan Sevak” as well as the “Pradhan Trustee”. Sources say that the PM is all set to announce One-Rank, One-Pension scheme for the armed force’s retired personnel.
The formation of Janata Parivar and the possible seat sharing between Janata Dal (United) and Rashtriya Janata Dal before Bihar Assembly elections received a setback as RJD rejected JD (U)’s demand of declaring Nitish Kumar as the chief ministerial candidate of the JD (U)-RJD alliance. Sources privy to the development say that JD-U has always maintained its stand that one of the preconditions of the possible alliance is the projection of Nitish Kumar as common CM candidate of the probable alliance, which Lalu Prasad’s party has been resisting. Reports say that RJD has agreed to give a written undertaking that Nitish will be the coalition’s CM candidate to check BJP’s growth in the state. But JD-U is insisting upon public declaration of the same, which RJD has turned down.
Delhi is heading towards a constitutional crisis as Aam Aadmi Party government is all set to pass two crucial resolutions during the emergency sessions on May 26 and May 27, reports say. While the first resolution will be the demand for full statehood for Delhi, the second demand is learned to be on the notification given by Ministry of Home Affairs giving power to the Lt. Governor on bureaucratic postings and transfers, with the discretion of consulting the CM resting with L-G’s discretion. Constitutional experts believe that the repercussions of the second possible resolution may lead to presidential reprimand if the Delhi Government summarily rejects MHA notification. Constitutional crisis may occur if Delhi government doesn’t follow the notification even after Presidential reprimand. The statehood resolution is expected to start a long-drawn process that may need constitutional amendment by Parliament.
Sumit Mazumder, President of Confederation of Indian Industry (CII), said on the eve of Narendra Modi government’s completion of one year in office, that there has been no “big-bang investment” in the last one year “on ground”. He also stressed on the fact that the government is yet to address the ease-of-doing business issue. Though Mazumder believes investments will take place in India in a gradual manner, he termed Union government’s claim of reaching 50th rank in the ease-of-doing business index of World Bank as “ambitious”. CII President expected the results to start showing from this year’s 3rd or 4th quarter. He made it clear that India Inc. now wants to see results on ground, especially regarding doing away with red tapism. Sumit Mazumder added that he wants to see digitization of forms and ease of approval process involved in setting up an industry.
Both the Indian bourses today fell by over 1 per cent on weak global cues, lower-than-expected Q4 earnings reported by some companies, and profit booking. While BSE Sensex fell by 1.2 per cent or 313.62 points than previous close (to close at 27,643.88), NSE Nifty fell by 1.05 per cent or 88.7 points (to close at 8,370.25). All the sectors other than oil & gas and infrastructure, ended in deep red. Some of the stocks that bled heavily include VEDL (fell 3.59 per cent), ITC (which fell by 3.84 percent), Canara Bank (fell by 5.10 per cent), HDFC (fell by 2.57 per cent), and others. Analysts believe that the major reason of this significant fall in the indices is the indication of US Federal Reserve Chair Janet Yellen that they are going to increase the interest rate in 2015.
United Bank of India has said that it has lost all hopes of recovering its dues from the now defunct Kingfisher Airlines. UBI is the first among the 17 lenders who admitted in public that the bank is not expecting recovery of its Rs. 400 crore consortium loan given to the beleaguered airlines. It was UBI that first tagged Vijay Mallya led Kingfisher Airlines as willful defaulter. Reports say that till now the seventeen lenders have been able to recover just Rs. 1,000 crore out of the total money given as loan to Kingfisher Airlines (excluding penal interest) – Rs. 7,500 crore. MD and CEO of UBI, P Srinivas, said that his bank is not getting any amount from the Kingfisher account. However, he also added that they will get another few crores by selling off the Kingfisher House and other collaterals.
Mumbai Indians (MI) have won 2015’s Indian Premier League T-20 title by convincingly defeating the mighty Chennai Super Kings (CSK) by 41 runs at Eden Gardens ground in Kolkata. CSK won the toss and asked Mumbai Indians to bat first. MI put on a score of 202 for five at the end of 20 overs. Lendl Simmons (68 runs) along with skipper Rohit Sharma (50 runs) put up a partnership of 116 runs in just 67 balls. Chasing a target of 203 runs to win, CSK was able to score just 161 runs at the loss of 8 wickets with Dwayne Smith as the highest scorer with 57 runs in 45 balls. While McClenaghan was the most successful bowler of MI (took 3 wickets for 25 runs), Dwayne Bravo had the best spell for CSK (took 2 wickets for 36 runs).