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Major News and Events of 06 February 2013

What Happened on 06 February 2013

Defence expenditure will increase after economy recovers: Finance Minister

Finance Minister P. Chidambaram specified that there will be more spending on defence when the Indian economy gets back to a growth path, recovering from a slowdown.He was responding to a question that a cut in defence expenditure could have an effect on the country's defence and security preparedness.  Chidambaram stated, "growth is the key to greater public welfare and greater security." He said that if the economy can grow at a higher rate, more funds can be for this purpose. Chidambaram has slashed spending, including $1.9 billion on defence acquisitions, so that the fiscal deficit target can be met. He dismissed higher borrowing, stating it was "not an option" for India.

Direct tax collections increases by 7 percent

India's direct tax collections increased by 7.02 percent to Rs.4.55 lakh crore in the first 10 months of the current fiscal as compared to Rs.4.25 lakh crore in the corresponding period of previous year.The gross collections of personal income tax rose by 13.81 percent to Rs.1,57,913 crore in April-January period of 2012-13 in comparison to Rs.1,38,746 crore in the corresponding period of 2011-12. Collections from corporate taxes was low and rose by 3.71 percent to Rs.2,96,451 crore in the period under review against Rs.2,85,837 crore in the previous year, as per data released by the finance ministry. The collections from wealth tax also spiked by 2.85 percent to Rs.685 crore, while revenues from Securities Transaction Tax (STT) dipped by 9.99 percent to Rs.3,731 crore in the first 10 months of the current financial year. The net revenues from direct taxes spiked by 12.49 percent to Rs.3,90,310 crore during the period under review. As there were tax refunds so there was difference in net and gross tax collections. 

Credit card scam in US, five Indians involved as well

Five Indians are included in the 18 people charged by US federal prosecutors with one of the largest credit card fraud schemes which spanned over 28 states and eight countries that included India. Over 25,000 fraudulent credit cards were used for the scam. The accused sent millions of dollars to Pakistan, India, the United Arab Emirates, Canada, Romania, China and Japan which amounted to losses of more than $200 million. FBI Special Agent James Simpson specified in court records, "The defendants are part of a massive international fraud enterprise involving thousands of false identities, fraudulent identification documents, doctored credit reports and more than $200 million in confirmed losses." Their scheme had three basic steps: The defendants supposedly created thousands of fake identities, injected the credit histories of those fictitious people and then accumulated charges on fraudulently acquired credit cards. The proceeds were then used for luxury automobiles, electronics, spa treatments,clothes and millions of dollars in gold. As much as $70,000 in cash was found in one defendant's oven as they stockpiled cash. 

Abhinav Bindra eyes for more success

Even though he is engaged in pizza business but Abhinav Bindra is focused in achieving more in the world of shooting. India's sole gold medalist at the Olympics intends to use 2013 as preparation for the major events in 2014. He stated that shooting was a passion for him and not a career option. The 30-year-old rifle shooter has not participated in many tournaments since the London Olympics where he was not able to make the 10 m air rifle final, four years after etching history in the Beijing Games. Bindra had to console with a silver in the Nationals in December and now has his eyes on this month's selection trials for the World Cup. He said he will compete in around 7-10 tournaments and it will help him reach top form in 2014.

Remake of South Indian movies in Bollywood

"Pizza": Remake rights of Tamil film "Pizza" were acquired by Bejoy Nambiar. The cast and crew of the film is not announced yet. 

10 remakes of south Indian movies in Bollywood is in the pipeline and some already are being made. "Okkadu" and "Kandireega" are the recently announced southern remakes and in the past two years, six southern remakes - "Bodyguard", "Ready", "Singham", "Housefull 2", "Rowdy Rathore" and "Son of Sardaar" - have grossed over Rs.600 crore at the box-office.

Some of the upcoming southern remakes in Bollywood include

"Thuppakki": Hindi remake will star Akshay Kumar and Sonakshi Sinha in the lead. A.R. Murugadoss, who directed the original, will do the remake as well. 

"Policegiri": Cast is Sanjay Dutt and Prachi Desai, "Policegiri" remake of Tamil film "Saamy". 

"Rangrezz": Priyadarshan's "Rangrezz" is a remake of Tamil hit film "Nadodigal". Jackky Bhagnani and Priya Anand are in the lead.

"Ramaiya Vasta Vaiya": Remake of Telugu blockbuster "Nuvvostanante Nenoddantana" stars debutant Girish Kumar and Shruti Haasan. Prabhudeva directed the original and is directing the remake as well.

"Filmy Picture": This spoof is the remake of Tamil comedy "Tamizh Padam".

"Kick": After "Wanted", "Bodyguard" and "Ready", Salman Khan will again feature in "Kick", the remake of a Telugu film of the same name. Sajid Nadiadwala is the director and movie has Deepika Padukone in the female lead.

"Shortcut Romeo": Hindi remake of Tamil film "Thiruttu Payale". Neil Nitin Mukesh, Ameesha Patel and Puja Gupta are in the cast and director is Susi Ganeshan, who made the original.

"Ramana": After "Rowdy Rathore", Akshay Kumar will again be in the Hindi remake of Tamil film "Ramana". The director yet to be announced. 

Google+ Hangouts for Gmail users in India

Google+ Hangouts is now there for all the Gmail users in India. Google+ Hangouts enables Gmail users to group up to 9 people to a voice chat. Using Hangouts, Gmail users can participate in number of activities ranging from watching YouTube videos, collaborating on Google Docs, playing games as well with their friends. Those who have a slow connection can choose the 'Low Bandwidth' mode. To start Google+ Hangouts, you need to click the Hangout button on the top of the chat list in Gmail. There is also the option of scheduling a hangout using Google Calendar.

FAQs and Answers on Indian History and Geography
Which Indian state is the largest producer of coffee?Karnataka state is the largest producer of coffee in India. The state contributed about 70% of the total production of coffee in India during 2016-17 with 2.33 lakh MT coffee production. The main variety of coffee grown in Karnataka is Robusta, but the state also… Read More...
Which is the longest National Highway in India?Previously known as National Highway 7, National Highway 44 (NH 44) is the longest-running National Highway in India. It is 3,745 km long and covers the North-South Corridor of NHDP. It starts from Srinagar in the north and ends in Kanyakumari in the south. NH-44… Read More...
Which Indian state is the largest producer of silk?Karnataka is the largest producer of silk in India. The state produces an average of around 8,200 metric tonnes of silk every year, which is about one-third of the total silk production in India. Up to November 2017, Karnataka has produced 5,962 metric tonnes of… Read More...

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