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Major News and Events of 21 May 2013

What Happened on 21 May 2013

PM to present UPA's fourth report card

Prime Minister Manmohan Singh will present the fourth and the last report card of UPA-II on May 22nd, 2013. The report will record the achievements of the government on its 4th anniversary.

Later, on the same day, the PM will host a dinner for the allies and supporting parties. The report is the last one for the 2nd edition of the United Progressive Alliance (UPA) government as there would be a new Lok Sabha by May in 2014.

As per sources, the report is expected to highlight the roll out of the Direct Benefit Transfer scheme, foreign equity in multi-brand retail and insurance as its major policy initiatives.

It will also record the Food Security Bill and the Land Acquisition Bill as pro-poor and pro-reform legislation. The report is also expected to mention a bill relating to time-bound delivery of services as a step to bring more transparency in the functioning of the government.

Srei Infra to raise Rs.1500 crore by debentures

Srei Infrastructure Finance, a Kolkata based non-banking finance company, said that its board has decided to raise funds up to Rs.1500 crore by public issue of debentures in more than one tranche in this fiscal year.

The secured, redeemable, non-convertible debentures will not exceed Rs.15,000 million, said the company in a filing to the BSE. The company’s board has also agreed to raise up to Rs. 500 crore in one or more tranches via issuing preference shares.

Karnataka CM promises cheaper rice for lower middle class families

The Congress, which over took power from BJP in Karnataka, is taking forward its pledge of providing 30kg rice at Re.1 per kg to poor families. It has a plan to offer rice at a price less than Rs.9 per kg for the lower middle-income groups in the state. Chief Minister Siddaramaiah, however, didn’t indicate as to what the price would be and from when will the plan be implemented. Discussions with the officials are on and a decision would be soon taken soon.

General Motors to hike prices in June

The American automobile giant, General Motors' Indian subsidiary said that it will increase the vehicle prices from the first week of June 2013.

They have decided to increase prices of all their vehicles by up to Rs.10,000 depending upon the model.

This is due to the increase in transportation costs and hike in diesel price, said P. Balendran the vice president of General Motors India. He further added that in percentage terms, the increase will go up to 1.5% depending on the model.

Pune Warriors pull out of IPL

Pune Warriors India, owned by Sahara India Parivar, has announced that they are pulling out of the Indian Premier League (IPL).

They failed to pay the full franchise fee for the current IPL year which resulted in the BCCI, encashing the bank guarantee. Therefore, the Pune-based franchise pulled out of the IPL.

Nevertheless, Sahara will continue to sponsor the Indian cricket team till December 2013.

Bal Chauhan to showcase at Escape music festival

Designer Bal Chauhan will present, 'Escape', a music festival, by exhibiting some of his creative designs under his label ‘Bhootsavar’.

This three-day long festival will start on Friday at Naukuchiata, Nainital district in Uttrakhand.

The fashion show will display Nitin's collection that will have a mix of art and fashion.

Bhootsavar is really cool and funky in essence, said the designer.


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