...Dr. Manmohan Singh Dr. Manmohan Singh is the 14th and current Prime Minister of the Republic of India. He was born on Monday, 26 September 1932. He is the first Sikh to hold the post of Prime Minister in India. He is the first Indian Prime Minister since Jawaharlal Nehru to return to power after completing a full five-year term. Manmohan Singh is also the 12th Prime Minister under an Indian National Congress Government. He was a hard working student who studied by candlelight, as his village did not have electricity. After the Partition of India, he migrated to Amritsar, India, where he studied at Hindu College. He attended Punjab University, Chandigarh studying Economics and attaining his bachelor's and master's degrees in 1952 and 1954 respectively, standing first throughout his academic career. He went on to read for the Economics Tripos at Cambridge as a member of St John's College. Singh previously carried out economic reforms in India in 1991, during his tenure as the Finance Minister, under the leadership of P. V. Narasimha Rao, from 1991 to 1996. These reforms resulted in the end of the Licence Raj system, helping to open the Indian economy to greater international trade and investment. Finance Minister of India In 1991, India's Prime Minister at the time, P.V. Narasimha Rao, chose Singh to be his Finance Minister. At this time, India's fiscal deficit was close to 8.5 per cent of the gross domestic product, the balance of payments deficit was huge and the current...
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...New Delhi: After battling stiff opposition, government Friday allowed 51 percent foreign investment in multi-brand retail but left it to the states to permit global retailers open stores. It has also tweaked the sourcing norms for FDI exceeding 50 percent in single brand retail, requiring foreign firms, which want a relaxation of the 30 percent procurement norms, to set up manufacturing facilities in the country. After considering various aspects and discussions with various stakeholders and states, it has been decided to go ahead with the decision to allow 51 percent FDI in multi-brand retail, Commerce and Industry Minister Anand Sharma told reporters after the Cabinet meeting chaired by Prime Minister Manmohan Singh. "The response has been a mixed one but the UPA had tried to evolve a consensus," he said. The cabinet had in November last year approved 51 percent FDI in multi-brand retail but had to put it on hold due to opposition from political parties, including UPA ally Trinamool Congress. Sharma also reiterated that foreign retailers planning to enter the multi-brand segment would have to invest a minimum of USD 100 million with 50 percent of it in rural areas. Related Stories • 49% FDI in civil aviation allowed; industry welcomes • Cabinet allows disinvestment in 4 PSUs; to raise Rs 15,000 crore • Broadcast sector reform: FDI upto 74% to be allowed • FDI in retail to boost mall space demand: Realtors • Govt permits foreign investment in power trading...
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...Industrial Policy – 1991 Introduction The Industrial Policy announced on July 24, 1991 by the Finance Minister Dr. Manmohan Singh heralded the economic reforms in India and sought to drastically alter the industrial scenario in our country. The Industrial Policy Statement of 1991 stated that “the Government will continue to pursue a sound policy framework encompassing encouragement of entrepreneurship, development of indigenous technology through investment in research and development, bringing in new technology, dismantling of the regulatory system, development of the capital markets and increased competitiveness for the benefit of common man". It further added that "the spread of industrialization to backward areas of the country will be actively promoted through appropriate incentives, institutions and infrastructure investments”. WHY THE POST-1990 REFORMS? It is well known that from 1951 to 1991, Indian policy-makers stuck to a path of centralized economic planning accompanied by extensive regulatory controls over the economy. The strategy was based on an ‘inward-looking import substitution’ model of development. This was evident from the design of the country’s Second Five-Year Plan (1956-61), which had been heavily influenced by the Soviet model of development. Several official and expert reviews undertaken by the government recommended incremental liberalization of the economy in different areas, but these did not address the fundamental issues facing the economy. ...
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...a lifeline to the government in India where economic growth has slowed sharply. But the Swedish company sought a 10-year window to comply with rules that foreign retailers source 30 percent from local small and medium-sized firms, a requirement which overseas companies say discourages investment. When contacted by Reuters, IKEA said a short delay in its formal application to enter the Indian market would not affect its decision to open stores, and hoped to start operations soon. The stakes are high for both sides. India offers IKEA a huge new market while the government is battling heavy criticism over its management of Asia's third-largest economy where growth has slipped to its weakest pace in nine years. Prime Minister Manmohan Singh said on Friday that IKEA's planned entry was proof that investors still had confidence in India. WINDOW A government source involved in formulating retail policy called IKEA's proposed phase-in period "too long". "They'll rework it, I'm sure," the source said, speaking on condition of anonymity because of the sensitivity of the matter. An IKEA spokesman said the time period to implement the sourcing rules was "not set in stone". The requirements underscore the potential pitfalls for foreign...
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...to enable it to cover a good amount of the Middle East region, including Israel. The drone named Fotros has an operational range of 2000 kilometres and has a capability to fly at an altitude of 25000 feet, with a flight time of 16 to 30 hours. The drone is capable of carrying out reconnaissance missions or launch air-to-surface missile strikes. India and Vietnam signed eight agreements on 20 November 2013 in areas of defence and security, oil exploration, civil aviation and scientific research. India will also assist Vietnam in the modernization and training of the defence and security forces of Vietnam and agreed to give a 100 million dollar line of credit to Vietnam for defence purchases. The agreements were signed by Prime Minister, Manmohan Singh and General Secretary of the Communist Party of Vietnam, Nguyen Phu Trong in New Delhi after delegation level talks. India and Australia on 18 November 2013 signed two agreements in New Delhi during the visit of Foreign Minister of Australia, Julie Bishop to India. She was on four days visit to India for a 3 day trip, from 15 November to 18 November 2013. India and Russia on 18 November 2013 agreed to expand the range of strategic partnership in a significant manner in Moscow. The two countries are also going to hold a Joint Air Force Level exercise for the first time in 2014. A Sri Lankan Buddhist nationalist group today staged a protest against British Prime Minister David Cameron’s warning to institute an international inquiry...
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...In this quarter’s update, we have incorporated the latest subscriber data from the International Telecommunication Union (ITU), the Bangladesh Telecommunication Regulatory Commission (BTRC) and Bangladeshi mobile operators, and made several adjustments to our forecast scenarios. We have also extended our forecast period to 2016. At the time of writing, the BTRC and several mobile operators have yet to release the latest subscriber data pertaining to the quarter ended September 2011. We estimate that there were about 86.555mn mobile subscribers in Bangladesh at the end of September 2011, representing a net addition of 4.728mn from the previous quarter. Grameenphone was the only operator to have announced its September 2011 results. The operator’s subscriber base increased to 35.245mn from 33.824mn in June 2011, while its blended ARPU fell to BDT257 from BDT270 over the same period. We believe that the Bangladeshi mobile industry is on track to meet our end-2011 target of 90.511mn. In our newly extended forecast, we expect 158.940mn subscribers in the country at the end of 2016, with a penetration rate of 99.2%. While we have largely retained our expectations for Bangladesh’s fixed-line industry, we have adjusted our forecasts for the country’s internet and broadband sectors in light of new data from the ITU. We forecast 9.718mn internet users and 4.729 broadband (fixed and mobile) subscribers in Bangladesh at the end of 2016. In the quarter ended September 2011, we saw...
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...THE ACCIDENTAL PRIME MINISTER THE ACCIDENTAL PRIME MINISTER THE MAKING AND UNMAKING OF MANMOHAN SINGH SANJAYA BARU VIKING Published by the Penguin Group Penguin Books India Pvt. Ltd, 11 Community Centre, Panchsheel Park, New Delhi 110 017, India Penguin Group (USA) Inc., 375 Hudson Street, New York, New York 10014, USA Penguin Group (Canada), 90 Eglinton Avenue East, Suite 700, Toronto, Ontario, M4P 2Y3, Canada (a division of Pearson Penguin Canada Inc.) Penguin Books Ltd, 80 Strand, London WC2R 0RL, England Penguin Ireland, 25 St Stephen’s Green, Dublin 2, Ireland (a division of Penguin Books Ltd) Penguin Group (Australia), 707 Collins Street, Melbourne, Victoria 3008, Australia (a division of Pearson Australia Group Pty Ltd) Penguin Group (NZ), 67 Apollo Drive, Rosedale, Auckland 0632, New Zealand (a division of Pearson New Zealand Ltd) Penguin Group (South Africa) (Pty) Ltd, Block D, Rosebank Office Park, 181 Jan Smuts Avenue, Parktown North, Johannesburg 2193, South Africa Penguin Books Ltd, Registered Offices: 80 Strand, London WC2R 0RL, England First published in Viking by Penguin Books India 2014 Copyright © Sanjaya Baru 2014 All rights reserved 10 9 8 7 6 5 4 3 2 1 The views and opinions expressed in this book are the author’s own and the facts are as reported by him which have been verified to the extent possible, and the publishers are not in any way liable for the same. ISBN 9780670086740 Typeset in Bembo by R. Ajith Kumar, New Delhi Printed at Thomson Press India...
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...India’s 12th Five Year Plan to Focus on ‘Inclusive Growth’ Apr. 25 – As India’s government prepares to submit its approach paper for its 12th five-year plan (a plan which covers years 2012 to 2017), the Planning Commission’s focus on instilling “inclusive growth” is making headway. The plan is expected to be one that encourages the development of India’s agriculture, education, health and social welfare through government spending. It is also expected to create employment through developing India’s manufacturing sector and move the nation higher up the value chain. Prime Minister Manmohan Singh, however, warned that maintaining fiscal discipline is important as well. The commission will likely strive to enact policies that will achieve somewhere around a 10 percent growth rate in factories and a 4 percent growth rate in farm produce, though Prime Minister Singh has asked the plan to set the nation’s growth rate firmly at 9 percent to 9.5 percent. Come May, a view into the implementation of these goals should be apparent. A question that India’s government will have to grapple with, much like that of any emerging market, is whether to continue to focus on GDP growth in the face of soaring food prices and economy-wide inflation. An important aspect of generating “inclusive growth” is shifting the target of government aid to rural areas. Typically, large projects such as power generation, roads whereby freight can travel, and airports receive the lion’s share of government...
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...US$ 88 billion (4.8% of GDP) in the year 2012–13. The Indian Government aims to cut the fiscal deficit to US$ 70 billion or 3.7% of GDP by 2013–14. The independence-era Indian economy (from 1947 to 1991) was based on a mixed economy combining features of capitalism and socialism, resulting in an inward-looking, interventionist policies and import-substituting economy that failed to take advantage of the post-war expansion of trade.[17] This model contributed to widespread inefficiencies and corruption, and the failings of this system were due largely to its poor implementation. In 1991, India adopted liberal and free-market principles and liberalised its economy to international trade under the guidance of Former Finance minister Manmohan Singh under the...
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...2009 Weekly Business Digest Week ending July 5, 2009 [TYPE THE DOCUMEN T TITLE] [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the Networth – Everything finance document.] The Finance Club of IIMB 05/07/2009 Table of Contents India Business News World Business News Food For Thought INDIA BUSINESS NEWS Indian Stocks Advance, Driving Sensex Higher for a Second Week India’s stocks rose, driving the benchmark index higher for a second week, led by Larsen & Toubro Ltd. (L&T), after the government pledged investment in the nation’s railways and left freight and passenger fares unchanged. L&T, the largest engineering company, added 2.6%. Tata Steel Ltd., the biggest producer of the metal, increased 4.2% on speculation it will avoid higher costs to transport raw materials after the government announced the railway budget. on June 15, the Bombay High Court had ordered RIL to sell the gas for 44% less than the government-set price. Indian business in declined 20%: FICCI Gulf has ABG Plans to Raise $150 Million to Fund Expansion ABG Shipyard Ltd., bidding for control of Great Offshore Ltd., plans to raise $150 million to fund expansion, reviving a proposal from April last year. ABG, which originally sought to raise $200 million, will seek shareholder approval for the new plan on July 7, Chief...
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...www.ibpsexamguru.in Content: Current Affairs 2013 (December 2012,January 2013,febraury 2013,March 2013, April 2013 ) Howdy ! friends . we are providing Five months current affairs for all competitive exam preparation .. Source : Various Location on Web Portal . Contains : 1. International Awareness 2. National Awareness 3. States News 4. Confrences 5. Sports and News 6. Awards and honors 7. Persons In News 8. Important dates 9. Books and Authors 10. Science and technology 11. Economy News INTERNATIONAL Mahama Re-elected as Ghana’s President : On 10 December Ghana’s incumbent President John Dramani Mahama of the ruling National Democratic Congress (NDC) has won the country’s presidential election.Mahama took 50.70 percent of the total valid votes cast, while his closest challenger, Nana Addo Dankwa Akufo-Addo of the New Patriotic Party (NPP) obtained 47.74 percent.With his re-election, Mahama becomes the fourth president to be elected under the Forth Republic.He had served as Ghana’s vice president since 2009. UN, Pakistan Launched ‘Malala Fund’ : Pakistan joined forces with the United Nations on 10 December 2012 to launch a fund aimed at boosting girls’ education throughout the world.The fund is named for Malala Yousafzai, the 15-year-old Pakistani girl. Pakistan’s President Asif Ali Zardari also announced a $10-million donation for a global war chest to educate all girls by 2015 set up in the name of Malala Yousafzai for campaigning for girls’ education. Shinzo Abe Elected...
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...cliché, of course, is gradually lapsing into disuse thanks to the remarkable transformation in India during the last two decades. Since 1980, its economic growth rate has more than doubled, rising from 1.7 percent (in per-capita terms) in 1950-1980 to 3.8 percent in 1980-2000 Until 1991, India’s policy makers followed misguided policies that closed the economy to international trade, erected inefficient industries under state guidance, riddled the private sector with extraordinarily cumbersome and detailed regulations, and suffocated private economic activity with controls and bureaucratic impediments. Then in 1991, the big breakthrough happened. Spurred by a balance of payments crisis, Indian policy makers turned to technocrats such as Manmohan Singh, who promptly began the process of liberalizing the economy. Trade barriers were slashed, foreign investment was welcomed, the license raj was dismantled, and privatization began. The economy started to boom, with software exports and call centres leading the way. Fiscal expansion can lead to rising...
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...April 2013 Current Affairs Study Material INTERNATIONAL China, Russia, Pakistan discuss Afghanistan situation Officials from China, Russia and Pakistan on 3 April 2013 held talks on the issue of coordination between their positions on Afghanistan.The officials from three nations backed the Shanghai Cooperation Organisation (SCO) that is grouping to play a great role in Afghanistan after the withdrawal of NATO Forces in 2014. These talks were held to enhance coordination. The talks followed a similar meeting India, China and Russia held in Moscow recently, reflecting the delicate balancing act — and increasingly complicated regional dynamics — as different countries look to push their interests in the lead up to 2014. Malaysia PM Dissolves Parliament On 3 April Malaysian Prime Minister Najib Razak has dissolved the Parliament ahead of a general election.This dissolution will pave the way for the 13th general election.The elections have to be held before June 2.The Barisan Nasional coalition that has ruled Malaysia since independence in 1957 is expected to face a stiff challenge in the polls from the opposition three-party Pakatan Rakyat (People’s Pact). Tammam Salam named as Lebanon new Prime Minister On 6 April well-known Sunni lawmaker Tammam Salam has been named Lebanon’s new prime minister , after receiving overwhelming parliamentary support.His appointment comes after previous prime minister Najib Mikati resigned and effectively brought down his Hezbollah-dominated...
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...October, 24 2011 Dr. Manmohan Singh Prime Minister 148 B South Block, Raisina Hill New Dehli, India 110001 Dear Dr. Manmohan Singh: I was recently given the chance to visit the country of India. It was an amazing adventure unlike any other I have had before and I enjoyed it immensely. However, while I was there I had the pleasure to visit some communities where the great people of India were stricken with poverty and hunger. I witnessed children, pregnant woman, mothers, and entire families severely famished, underweight and unhealthy. I saw mothers watch their children starve to death and met many orphans who had lost their entire families, left to fend for themselves all because of lack of nourishment. I realize that famine has become a recurrent way of life for the people of India. It has taken over 60 million lives over the last three centuries (Famine In India), yet no one has taken any action to change the problem. It is said that at least 50 million Indians are on the brink of starvation and over 200 million Indians are underfed, even as I write you this letter now. (Ramachandran). Simply having a meal to eat and food in our bellies is something many of us take advantage of every day and something every human being deserves to have access to. For this problem I’ve created the DirtMaster 3000™. I know right now you’re thinking, “Dirt?” So let me explain. The DirtMaster 3000™ is a microwave like appliance that anyone can use. You put dirt inside and turn it...
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