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Major News and Events of 12 December 2014

What Happened on 12 December 2014


Indo-Asean Trade to increase by $20 Billion in 2015 to Reach $100 Billion Mark

Minister for Commerce and Industry, Nirmala Sitharaman, has said that by the year 2015, Indo-Asean trade is going to witness a jump from current $80 billion to $100 billion. According to her this will become possible because of the free trade agreement that was signed with 10-member Asean bloc. During her speech in India-CLMV business conclave she also said that there are enough opportunities for India to expand trade with Cambodia, Laos, Myanmar and Vietnam.

Slump in International Crude Price Erodes Overseas Assets of Indian Oil Behemoths

Brent crude oil price has slumped to $63 per barrel, a five and half year record low level. This is mainly because of the continuing concerns on weak demand outlook and supply constraint. This fall in crude price has eroded value of energy related assets bought by leading Indian Oil sector companies (RIL, Oil India, BPCL, and ONGC) to the extent of 25 per cent, per analysts. BSE Oil & Gas index is down by 1 per cent.                

RBI Governor Addressed India Inc Today

With India Inc. keeping its pressure on RBI Governor for rate cut, Raghuraj Raman addressed the behemoths of Indian industry today stressing on the requirement of fiscal prudence, Make for India in addition to NaMo’s Make in India, need to finance domestic demand through domestic saving, etc. However, the most important point he made today is the need to follow a gliding path of lowering inflation to create condition for sustainable economic growth.

Putin's India Visit: India-Russia Strategic Partership Reaches a New High

Russian President Vladimir Putin’s India visit ended with signing of thirteen MoUs and seven agreements along with the pledge to deepen political dialogue and boost trade. Indian PM Narendra Modi regarded Russia as a steadfast supporter of India and also regarded strategic partnership between the two countries “incomparable in content”. NaMo’s “Make in India” got a major boost when Russia announced assembling four hundred twin-engine helicopters every year and construction of Russian designed nuclear plants in India. While Russia urged upon ease of doing business in India, India asked Russia to do away with the taxes on diamond trade.

Godse-Ram Temple-Conversion Row: Chaos in Parliament

Both houses of the Parliament witnessed uproar on controversial statements on Agra conversion, UP Governor Ram Naik’s statement on building of Ram Temple in place of demolished Babri Masjid, and glorification of Mahatma Gandhi’s killer Nathuram Godse by BJP MP Sakshi Maharaj. As government vouched for the need of anti-conversion law, opposition in Lok Sabha walked out the parliament and protests continued in Rajya Sabha. After continued protest Sakshi Maharaj took back his words on Godse.

CBI Chargesheets Coal Scam Accused

CBI has chargesheeted some  politicians and bureaucrats with alleged involvement in coal block allocation scam. FIR has been filed against Madhu Koda (former CM of Jharkhand), Asok Kumar Basu (former hief Secretary of Jharkhand), H C Gupta (former coal secretary), Bipin Bihari Singh (public servant), Basant Kumar Bhatacharya (public servant), Vaibhav Tulsyan (Vini Iron and Steel Udyog’s Director), and Vijay Joshi.

Pranab Mukherjee's Book Released Online on his 79th Birthday

The first volume of  President of India Pranab Mukherjee’s book –‘The Dramatic Decade: The Indira Gandhi Years’ –  was launched online through Amazon (as per an agreement with Rupa Publisher the e-retailer will sell the book for three weeks before it hits the retail bookstore shelves) on his 79th birthday. In this 321-page book Pranab writes his experiences about Indira Gandhi, especially in the times of semi-fascist Emergency Rule of 1975, 1973 oil crisis, Bangladesh’s war for independence, 1977 coalition politics, and many more.

Lima Climate Conference: India Vouches for 'Evolving Differentiation'

Prakash Javedkar, Environment Minister of India, has made it clear during his speech on ‘Durban Platform’ that there is no requirement of changing United Nations Framework Convention on Climate Change. He also made it clear that Lima Climate Conference is going on for enhancing scope of Convention’s implementation and definitely not re-writing it. Javedkar also emphasised upon evolvement of Common But Differentiated Responsibility (CBDR) and resisted Intended Nationally Determined Contributions’s review, proposed by developed countries. As UN Climate Summit enters the last day of talk, negotiators have agreed on just one paragraph till now on draft text.

Uber Rape Case: Court Sends Rapist Driver to Tihar

Rape accused Shiv Kumar Yadav has been sent to Tihar Jail by a Delhi court on charges of raping a young finance professional. Uber cab service provider has not only apologised but also admitted that they could have provided better safety net to their customers. A full internal audit is being conducted by Uber on support, rider feedback, and verification processes. Services of Uber has been banned in multiple Indian states including Telangana, Maharashtra, Karnataka, and Andhra Pradesh, after prohibition of operations in Delhi two days back. Justice Usha Mehra has observed that India has not learned from the Nirbhaya case.

Saradha Scam: WB Transport Minister Madan Mitra Grilled by CBI

After failing to appear before CBI on first summon, West Bengal’s Transport Minister Madan Mitra appeared in CBI Office at Salt Lake’s CGO complex today on second summon. The minister didn’t respond to reporters’ questions while he entered the CBI office. Bapi Karim, ex-confidential assistant of Mitra, was quizzed by CBI earlier. Mitra was called by CBI for interrogation after multiple witnesses and accused in Saradha Scam reported his involvement to the investigating agency.

Google India MD on Increasing Internet Users in India

Rajan Anandan, Managing Director of Google India, has said that the total number of users having internet connection will be more than those in the United States by coming year. He also said that the total number of internet users will be more than 300 million by 2014-end. Per available information, Google India has planned a host of new online initiatives for building a digital India, after they got into an agreement with the Indian Government some month back.   

India Enters Hockey Championship Trophy Semi-Final by Beating Belgium

Twelfth ranked India made it to the semi-finals by beating 4th ranked Belgium convincingly in an action-packed match. India was trailing by two goals till eighteenth minute. But made a marvelous comeback with four goals in a row by Rupinder Pal Singh, SK Uthappa, Akashdeep Singh, and Dharamvir Singh at 18th, 27th, 41st, and 49th minute respectively. India is going to face their arch rival Pakistan (which beat Netherlands 4-2) in the semis on December 13 (Saturday).




FAQs and Answers on Indian History and Geography
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