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Major News and Events of 13 October 2014

What Happened on 13 October 2014


JP Morgan Revises 2014-15 Growth Forecast of Indian Economy after Sluggish IIP Data

Weak factory output (IIP – Industrial Production) data has made JP Morgan to revise its 2014-15 growth projection from 5.3 percent to 5.1 per cent in its October 10 report. In comparison to estimate of 2.4 per cent, industrial output for the month of August increased by a mere 0.4 per cent. RBI’s estimated GDP growth of India by end of March 2015 is 5.5 per cent.

Strategic eCommerce Alliance between Amazon and Future Group

For selling its private labels, one of the largest traditional retailers of India, Future Group, has made strategic alliance with Amazon. The partnership will start from fashion category and will eventually be expanded to other categories as well. Moreover, Jeff Bezos’s Amazon will help Kishore Biyani-led Future Group to accelerate product development in spaces which have not being explored by brick and mortar retail houses yet.

Finance Ministry's GST Plan is on a Collision Course with States's Demands on Compensation

GST or Goods & Services Tax is expected to be implemented by April 2016. However, the plans of finance ministry for compensating states on their incurred losses, due to proposed indirect tax regime shift, for 3 years instead of states’ demand of 5 years, is expected to create a logjam. Though the compensation provision is expected to be included in GST Law, it will not make up to Constitution Amendment Bill.

NCP Chief's Sudden Pat on the Back of Shiv Sena Chief Raises Eyebrows

NCP Chief Sharad Pawar seems to be playing some new cards as he has praised current Shiv Sena Chief Uddhav Thackeray for rejuvenating Shiv Sena after his father’s death. He also pointed out how Uddhav had worked hard on behalf of Shiv Sena -BJP alliance in Maharashtra during the 2014 Lok Sabha election for bringing BJP to power.

Congress Approaches EC on supposed MCC Violation

On Sunday (October 12, 2014) night, some Marathi TV channels retelecast New York’s Madison Square Garden speech by Indian PM Narendra Modi. INC has approached Election Commission by referring it as Model Code of Conduct violation. INC has pointed out that the relecast was not marked as sponsored by many channels and also called this act as paid news case. NCP has also attacked Narendra Modi for using his NY speech to influence Maharashtra voters.

INLD's Sitting MLA belittles Low Sex Ratio Problem of Haryana

Dr Hari Chand Middha, sitting MLA from Jind, has regarded low Women-Men ratio of Jind (which stands at 871 females for every 1000 males) as wish of God. He also belittled the issue. The Jind MLA said this when asked about his response to Prime Minister Narendra Modi’s speech in Jind where he acknowledged the poor sex ratio problem of Haryana and assured of taking speedy action.

Xiaomi Refutes Charges of Apple's Design Head

Jony Ive, Design Head of Apple, had recently accused Xiaomi of stealing iPhone Technology. Chinese smartphone manufacturer Xiaomi has strongly refuted the charges levelled by Ive. He said that a product should be judged after their use and not before that. Xiaomi President Lin Bin has also said that Ive should personally use their products to know the differences between them.

Bilawal Bhutto Does it Again to get Political Mileage – Brings Kashmir Issue before Everything Else

Pakistan People's Party chief Bilawal Bhutto Zardari has marked Kashmir as the sole issue of contention between the neighbours – Pakistan and India. He called it as the source of hostility in the sub-continent area. He said this in Sindh Assembly while addressing a session of National Youth Parliament. To bring Kashmir issue before international community, Bilawal also asked the entire world to look into the ‘brutal occupation’ of Kashmir by India.   

Army Jawan killed during Exchange of Fire with Militants

In J&K’s Kupwara district, 30 Rashtriya Rifles’s army jawan Sahib Singh was killed while fighting with militants. An Army Official said that security force got a tip-off  on possible presence of militants in Kupwara forests. Security forces started search operation after confirmation of report and exchange of fire is still going on.

ICC Events' Broadcasting Rights awarded to Star Middle East and Star India

The rights for telecasting all the events of International Cricket Council from the year 2015 to 2023 has been awarded to Star Middle East and Star India. The process of providing audio-visual rights to a company started in July 2014. It took ICC two months for completing the process of publishing tender, bidding, and consequently evaluating the bids. 17 broadcaster had submitted their bids.

Indian Wins $50,000 Dutch Open Grand Prix

The winning amount of $50,000 in Dutch Open Grand Prix is won by 27-year old badminton player Ajay Jayaram. He defeated Ihsan Maulana Mustofa of Indonesia at Topsportcentrum Almere. The final scores was 10-11, 11-6, 11-7, 1-11, 11-9.

Hudhud Destruction Kills 8 even after Mass Evacuation; PM to Visit Visakhapatnam Tomorrow

Hudhud, the cyclonic storm, has till now taken 8 lives as per available reports, in Andhra Pradesh and Odisha. This is inspite of evacuating around four lakh people from the coastal belts of both the states. The 200 km per hour storm devastated normal life in Vishakhapatnam, but the intensity of the strom weakened after evening. While Andhra CM has asked for Rs. 2,000 crore package from PM, Narendra Modi is expected to visit Visakhapatnam for reviewing the situation first hand on October 14.




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