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Major News and Events of 07 October 2014

What Happened on 07 October 2014


Karnataka High Court Rejects Bail Plea of J Jayalalithaa

Karnataka High Court has  rejected former Tamil Nadu Chief Minister’s bail plea. Jayalalithaa will remain in jail, as of now. The High Court referred to the Supreme Court's directive that cases of corruption should be put on fast track. The Court gave its verdict even when Bhavani Singh, Special Public Prosecutor, had no objection to granting conditional bail to the AIADMK chief. Jayalalithaa's lawyers are expected to move the SC against HC’s verdict tomorrow.

Narendra Modi Alleges Violation of Model Code of Conduct by Hooda Government

Narendra Modi while addressing a rally in Haryana alleged that Bhupinder Hooda’s government had violated the Model Code of Conduct by legitimising DLF-Robert Vadra land deal in between election process. He also asked Election Commission to take note of it and look into the matter. He also alleged that the current Haryana CM might have been pressurised into doing this.

Nirmala Sitaraman on Foreign Investment and WTO Concerns

Nirmala Sitaraman, Minister of State for Commerce and Finance, said that business outlook of foreign investors is favourably changing on India as an investment destination. Opening up of railways to FDI, increase of FDI investment in defence sector to 49 per cent from 26 per cent are two of the most important signals to foreign investors in changing their perspective. She also believes that both WTO and US are willing to hear India’s concerns on agriculture and subsidies.

Ficci and CII Surveys Show Increased Confidence of India Inc in Indian Economy

Surveys done by both FICCI and CII have pointed out that India Inc’s confidence in the economy has increased after Narendra Modi assumed power. As per CII, the Business Confidence Index has improved from 45.7 points during 2013-14’s 2nd quarter to 57.4 points during the same quarter of the current fiscal. According to Ficci survey, BCI during the same period improved from 49 points to 72.7 points.

Service Sector Activity in India Increased in September 2014

A report by Asian Economic Research shows that service sector activity has increased in September 2014, a reversal of trend witnessed in the previous two months. Purchasing Managers' Index rose from 50.6 during August to 51.6 during September. Flow of new businesses became stronger during September.

Flipkart Clinch over Rs 600 crore Sales in a day

Flipkart announced that they grossed more than Rs 600 crore or $100 million sales in just ten hours time during the October 6 Big Billion Day offer. However, many users slammed this effort as nothing but marketing gimmick that resulted in record clicks of one billion. Many also feel cheated on the matter of discount. Snapdeal also claimed that they witnessed Rs 1 crore per minute sales on that day.

Meteoric Rise of Aurobindo Pharma from 147th Position to 5th Position in One Year

During last one week, Aurobindo Pharma’s market capitalisation increased by 21 per cent. In fact, its m-cap has increased five folds. On September 30, 2013, market capitalisation of Autobindo Pharma was Rs 5,882 crore, giving it a 147 rank. However, it has now come up the ladder and became the 5th most valuable Indian pharma company.

Japanese Tourist in India Suspected to have Ebola Virus

A 27-year-old Japanese woman tourist travelling in Manipur is suspected to have been suffering from Ebola as the symptoms (diarrhoea, pain in joints, and fever) she is suffering from are very similar to Ebola attack. Doctors have ruled out any kind of seasonal disease. The samples collected from her body were sent to Pune’s National Institute of Virology for verification.  

Ceasefire Violation by Pakistan Continues

Fresh rounds of firing from Pakistan’s side have been reported at Rajouri, BG sector, and Shahpur of Poonch. Consequently, 34 civilians were injured. The US has expressed its concerns regarding border violence between Pakistan and India. The LoC standoff is still continuing.

Almost 80 per cent of India's Cabinet Ministers are Crorepatis

Arun Jaitley, Defence and Finance Minister, is the richest minister in Narendra Modi’s Union Cabinet, with a total asset value of Rs 72.1 crore. Out of the 22 ministers, 17 are crorepatis. Narendra Modi’s total asset value stands at Rs. 1.26 crore. Most modest of them all, in terms of asset valuation, is Urban Development Minister Venkaiah Naidu, with assets amounting to just 20.45 lakh.

Government to fund National Supercomputing Mission

The Indian government has decided to clear funds to the tune of $730 million or Rs 4,500-crore for creating supercomputers, under the National Supercomputing Mission. As per the mission, 73 facilities of supercomputers will be built in research/academic institutions in different corners of India and then they will be networked into a grid.

Ravi Shastri Emphasises on Limited-Over Cricket World Cup

During an interaction at the Press Club, Mumbai, Indian Cricket Team Director Ravi Shastri agreed with the view of Rahul Dravid that more emphasis should be given to limited over format of World Cup Cricket rather than T20 and bilateral ODI matches. Shastri opined that the economics of the game will not let Test cricket survive.




FAQs and Answers on Indian History and Geography
Which State is biggest Jute producer? West Bengal is the largest producer of jute in India. India is the largest producer of jute in the world. Approximately 60 percent of the total world produce of jute is cultivated in India… Read More...
Which State is the Largest Tea producer? Assam is the largest producer of tea in India. India is one of the largest producers of tea in the world, second only to China. India recorded a total production of 1233.14 million… Read More...
Which State is the Largest Mica Producer? Andhra Pradesh is the largest producer of mica in India. For over hundred years, India had enjoyed monopoly in production and export of sheet mica in the world. Of late,… Read More...