1400 HRS
7th February, 2013
7th February, 2013
THE HEADLINES
- Government increases minimum support price of Copra by 150 rupees per quintal; Also approves raising authorised capital of NABARD to 20,000 crore rupees from 5,000 crore rupees.
- India's GDP is estimated to grow an annual five percent in 2012-13 fiscal year.
- Supreme Court questions CBI for delay in filing appeal againstAllahabad High Court Verdict on dropping conspiracy charges against L.K. Advani and others in Babri Masjid case.
- Apex Court directs Karnataka to release 2.44 TMC Cauvery water to Tamil Nadu immediately.
- Sensex drops 72 points in afternoon trade; Rupee appreciates five paise to 53 rupees 11 paise per dollar.
- India were 43 for 1 against Pakistan in the seventh place play-off match of the ICC Women's Cricket World Cup at Cuttack.
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The Union Cabinet today approved raising authorised capital of National Bank for Agriculture and Rural Development, NABARD to 20,000 crore rupees from 5,000 crore rupees. The increase in authorised capital is aimed at augmenting the operations and broadening the activities of NABARD. The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Dr Manmohan Singh in New Delhi, also approved an increase in Minimum Support Price of Copra by a 150 rupees per quintal.
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The Union Cabinet today gave its approval for formation of the Special Purpose Vehicle, SPV for the Turkmenistan-Afghanistan-
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All habitations with a population of 100 tribals and above in 82 Naxal-hit districts will now be connected with all-weather roads under government's flagship programme PMGSY, with the Union Cabinet today giving nod to a proposal. At present, the Pradhan Mantri Gram Sadak Yojana, PMGSY, envisages connecting all habitations with a population of 250 persons and above in tribal areas in Naxal-affected districts. The Rural Development Ministry's proposal came after Tribal Affairs Minister Kishore Chandra Deo pointed out that bulk of the habitations in tribal areas are below the 250-mark. Government is giving utmost priority to provide road connectivity to tribal districts in the country as most of these areas are affected by Naxal violence.
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The Cabinet Committee on Economic Affairs today approved the proposal for the merger of National Lake Conservation Plan and National Wetlands Conservation Programme into a new scheme called the 'National Plan for Conservation of Aquatic Eco-systems. The merged scheme shall be operational during the twelfth Plan Period at an estimated cost of 900 crore rupees.
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India's Gross Domestic Product, GDP is estimated to grow an annual five percent in the 2012-13 fiscal year, the lowest in a decade. The provisional data issued by the Central Statistics Office shows that agriculture output is expected to grow 1.8 percent compared to 3.6 per cent in 2011-12. Manufacturing growth is also expected to drop to 1.9 per cent in this fiscal, from 2.7 per cent last year. Revised data from the government showed that India's economy grew at 6.2 percent each in the last fiscal years.
Our correspondent reports that the latest estimate is the worst of all growth projections issued by the government and the Reserve Bank of India.
In 2002-03, the GDP had grown at 4 per cent. Since then the country's economy has been expanding at over 6 per cent, the highest rate being 9.6 per cent in 2006-07. Last month, the RBI had pared the GDP growth estimate for the fiscal year ending in March to 5.5 percent, the worst since 2002-03.
Chairman of the Prime Minister's Economic Advisory council C Rangrajan has expressed disappointment over the estimated 5 per cent growth rate. He added that the number may be revised upwards when more data for the second half of the financial year comes in. The Indian economy had expanded by 8.4 per cent in both 2010-11 and 2009-10, while growth in 2008-09 was 6.7 per cent.
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In Odisha, the land acquisition for South Korean steel giant Posco's mega project in Jagatsinghpur district has been put on hold this morning . The police force has also been withdrawn following demands from the anti-project protesters. Meanwhile, CPInational secretary and Member of Parliament D Raja held discussions with agitating leaders, anti-project villagers and officials of the district administration on the issue. He also opposed forceful land acquisition by the administration.
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Congress vice president Rahul Gandhi today reached his Loksabha constituency Amethi on a two day visit after assuming new party post.
Rahul Gandhi today visited Jayas, Naharkothi and later in the day he will lay foundation stone of development works sanctioned from his MPLAD fund of 2.62 Crore Rupee in Tiloi. Four night shelters, 24 passenger shades, thirty six roads and many Barat Ghar are scheduled to be constructed by his MPLAD fund.
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In Uttar Pradesh, Chief Minister Akhilesh Yadav expanded his cabinet with twelve more ministers. With this the total strength of ministers in his government has reached 57. Our correspondent has filed this report:
" In the first ever cabinet expansion after he assumed power, chief minister Akhilesh Yadav today inducted eleven new faces and one old timer in his cabinet. Party spokesperson Rajindra Chaowdhary was given a cabinet berth while Vijay Mishra was made minister of state with independent charge. Old timer Vinod Kumar alias Pandit Singh, who had to quit his minister's post after a controversy erupted in NRHM recruitment few months ago has been accommodated once again. Merajuddin/AIR NEWS/ Lucknow".
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Campaigning for the Tripura Election is at its feverish pitch with the Election day approaching nearer. The state goes to polls on the 14th of this month. Our Correspondent has filed this report on the poll scenario in the state:
"All Parties in Tripura are now focusing their campaigning strategy from Rural to Urban belt and from Star campaigners to local leaders all are busy to woo the voters. On the other-hand the deployment of Central Party Military Force is complete for the poll bound state. According to IG Law and order of Tripura 259 Companies of Forces from outside the state have reached in state and are in full deployment. Central paramilitary Forces and State Armed Police drawn from outside the state will be used for polling duties and for securing the Strong rooms and on counting days."Sudipta Kar, AIR News, Agartala."
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In Meghalaya,the scrutiny of the nomination papers began today for 60-seat State Assembly elections scheduled for February the 23rd. A total of 355 candidates filed their nominations which concluded yesterday. Meghalaya Chief Electoral Office informed that the last date of withdrawal is Saturday. Election official said 140 Independent candidates, 61 candidates belonging to Indian National Congress, 13-BJP, 21 - Nationalist Congress Party, 52 - United Democratic Party File their nomination papers.
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The Delhi government has convened an emergency meeting of senior health officials this evening to review the situation arising from outbreak of swine flu in the city. The meeting will be chaired by State Health Minister A K Walia. Earlier, the health department issued an advisory to all hospitals in the city after five suspected cases of swine flu were reported this week. The advisory asks the hospitals to make adequate arrangements for the affected patients. The advisory comes in the wake of four people reportedly dying of the flu in the national capital region.
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In Punjab, 20 persons have died due to swine flu since January this year. State Surveillance Officer of the Integrated Disease Surveillance Project Dr Deepak Bhatia told AIR that 79 confirmed cases of swine flu were reported from different parts of the state while 19 swine flu affected persons from other states were also admitted in the hospitals of the state.
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The SC has asked the Central Bureau of Investigation to explain as to why there was a delay in filing the appeal against the Allahabad High Court order in the Babri Masjid demolition case which upheld dropping of conspiracy charges against Bharatiya Janata Party and Vishwa Hindu Parishad leaders.
The CBI had in 2011 moved the apex court challenging the May 21st, 2010 order of the Allahabad High Court judgement, which had upheld a special court's decision to drop the charges against senior BJP leader LK Advani and 19 others. The CBI had taken more than 90 days, which was the time allotted to it to file an appeal against the HC order.
The High Court had at that time, however, allowed the CBI to proceed with other charges against Advani and others in a Rae Bareily court, under which the disputed structure falls. The Supreme Court had on December the 6th, 2012 directed a Rae Bareily court to expeditiously hear the case against senior BJP leader LK Advani and 19 others against whom charge of criminal conspiracy was dropped by the trial court.
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The Supreme Court today directed Karnataka to release 2.44 thousand million cubic feet, TMC, Cauvery water to Tamil Nadu immediately. The water sanctioned is based on the recommendations of an expert panel appointed by the Supreme Court and far less than the 9 TMC demanded by Tamil Nadu to irrigate the state's winter crops. Tamil Nadu had claimed that the panel's assessment was inaccurate and the state needs 9 TMC to cover six lakh acres of farmland. The apex court rejected Tamil Nadu's objections to the findings of the expert panel and directed Karnataka to release the water immediately. Karnataka had argued that Tamil Nadu did not need water from the Cauvery at all as its crops had either been harvested or was about to be harvested.
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The auction of NTPC shares saw good response from investors in the initial hours of sale today with bids coming in for over 30.51 crore shares in the first three hours of trade.
The government is offloading 78.32 crore shares or 9.5 per cent stake in the state-owned power major NTPC and has fixed a floor price of 145 rupees a share.
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The Sensex at the Bombay Stock Exchange declined 65 points, or 0.3 per cent, to 19,575 in opening trade, this morning, on sustained selling by funds, amid negative Asian Bourses. Later, the Sensex remained weak, and stood 72 points, or 0.4 per cent in the red, at 19,568, in afternoon trade, a short while ago. The Sensex has lost over 365 points in the past five trading sessions.
Other Asian markets in Japan, China, Hong Kong, Singapore, and South Korea had declined between 0.1 percent and 1.3 percent, today, after mixed cues from Wall Street, and ahead of the European Central Bank's decision on interest rates.
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The Indian rupee continued to rule firm in the late morning session by improving five paise to 53 rupees 11 paise per US dollar on selling of dollars by banks in view of persistent foreign capital inflows.
The rupee had resumed higher at 53 rupees 12 paise per dollar as against yesterday's closing level of 53 rupees 16 paise per dollar at the Interbank Foreign Exchange Market.
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Chasing 193 to win, India were 52 for 2 in 15 overs against Pakistan in the seventh place play-off match of the ICC Women's Cricket World Cup at Cuttack when reports last came in. Earlier, Pakistan Women won the toss and elected to bat first.
Both, India and Pakistan have crashed out of the tournament, after losing their third and final Group-match and finishing last in their respective Pools. While Indialost to Sri Lanka by a massive 138 runs in Group-A, South Africa beat Pakistan by 126 runs in Group-B. Defending Champions England topped Group-A, while Australiawere the table toppers of Group-B.
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Chasing a target of 527 runs, Ranji Trophy champions Mumbai were 34 for 1 against Rest of India at the Wankhede Stadium today when reports last came in. For Rest Of India, opener Murali Vijay's scored his second successive century in the Irani Cup to help his team amass a total of 526 runs
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