2100  HRS.

2^nd December, 2013

THE HEADLINES:

• Current account deficit narrows to 5.2 billion US dollars in the second quarter of this fiscal; Economy to grow at five per cent notwithstanding stress, says Finance Minister.

• A police officer killed and two other cops injured in a militant attack in Budgam district of Kashmir; Another gun battle on in Kupwara district.

• Supreme Court seeks response from states on media briefing by police in criminal cases.

• Campaigning for Delhi Assembly polls ends.

• Sensex gains 106 points to close at 20,898; Rupee strengthens 13 paise to 62.31 against the dollar.

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India's current account gap narrowed sharply to 5.2 billion dollars in the July-September quarter of 2013-14 on the back of turnaround in exports and decline in gold imports. The Reserve Bank of India said in a statement in Mumbai that the current account deficit, the difference between outflow and inflow of foreign exchange, was 21 billion dollars, in the second quarter of last fiscal.

Both the government and RBI are expecting the current account deficit to be below 56 billion dollars in the current fiscal compared to the record high of 88.2 billion dollars during last fiscal.

The RBI also said that the state run oil refiners have returned to the foreign exchange market to meet all their dollar requirements as volatility in currency rates has eased over the past few weeks.

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Finance Minister P Chidambaram today said, the country will clock a growth rate of 5 per cent in the current fiscal notwithstanding the current stress. Briefing reporters in New Delhi, Mr. Chidambarm said, the second quarter GDP growth rateindicates that the economy is recovering and on a growth trajectory again. He said that the economy can be expected to show further improvement following recent improvement in manufacturing, better performance of exports and measures taken by the government. The Minister also expressed the confidence that the government will be able to achieve the disinvestment target of 40 thousand crore rupees and contain the fiscal deficit within 4.8 per cent of the GDP.

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In Jammu and Kashmir, militants today attacked a police party in Budgam district, killing an officer and injuring three others, including two cops. A police spokesman said that a group of unidentified militants armed with AK assault rifles, opened indiscriminate fire on the police party led by a Station House Officer at Chadoora chowk, 16 kms from Srinagar, this afternoon. The spokesman said, a massive hunt has been launched to nab the attackers. No militant outfit has so far claimed responsibility for the attack.

Meanwhile, a gunbattle is on between militants and security forces in Kupwara district. Acting on a specific information about the presence of militants in a house in Shatipora village of Handwara, some 90 kms from Srinagar, the army and police launched a joint operation in the area. Police Sources said that militants fired at them, as security forces cordoned the area.

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The Supreme Court today sought a response from all states and the Union Territories about the mechanism followed by their police to brief media in criminal cases during the probe and the trial. The court issued notices to them and sought their replies within four weeks. The questions on which the states were asked to respond were whether their permission is required by police to speak on certain pending criminal cases, ones related to terrorism or in sensitive cases such as riots when the name of a community may not be disclosed. The Bench was concerned on the rank of official who could speak to media.

The court was hearing a PIL filed in 2008 in the wake of media coverage of Aarushi and Hemraj double murder case in Noida.

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The Income Tax Department today told the Delhi High Court that the offer of Finnish mobile maker Nokia to pay 2,250 crore rupees out of the company's total tax liability of nearly 6,500 crore rupees, is not acceptable to it. Nokia India, however, stuck to its offer and said, it is for the department to decide if they are better off with the proposed amount or without it.

Earlier, the mobile handset-maker firm had sought lifting of a stay on transfer of its assets in India, saying the court's injunction will jeopardize the sale of its Indian arm to Microsoft under the 7.2 billion dollors global deal.

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Former Tehelka Editor Tarun Tejpal, arrested for allegedly sexually assaulting a woman journalist, today underwent a potency test in Goa which is reported to be positive. He was taken to Goa Medical College for the test which is mandatory in sexual assault cases. Officials at Goa Medical College said that the examination fetched a positive result.

Tejpal was arrested on Saturday by the Crime Branch of state police after his anticipatory bail petition was rejected by the Sessions Court. He was yesterday remanded in six-day police custody by a court in Panaji after which Crime Branch officials questioned him for over five hours.

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The government today said, it is confident of meeting the revenue target of 40 thousand crore rupees from spectrum sale this fiscal. Telecom Secretary MF Farooqui told reportes in New Delhi that the government is hopeful of selling all the spectrum put on the auction table.

The Department of Telecom is likely to conduct the third round of spectrum auction by January. The Government had set a total revenue target of 40,874 crore rupees for the current financial year from the spectrum, including auction amount, one-time spectrum charge and annual regular licence fee.

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The Border Security Force, BSF has seized 14 kilograms of Heroin from the Punjab border with Pakistan last night from near Udhar Dhariwal outpost in Amritsar Sector. The value of the contraband in the international market is said to be 70 crore rupees. With this recovery, a total of over 295 kilograms of Heroin has been seized by the BSF during this year so far.

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Campaigning for Delhi Assembly polls has come to an end. The star campaigners of Congress, BJP, Aam Aadmi Party, BSP and other parties made last ditch efforts to win over the voters. 810 candidates are fighting for the 70-Member Assembly which goes to polls on Wednesday.

The Election Commission has made all arrangements to ensure free and fair polls in the city. It has intensified vigil in areas which are vulnerable to misuse of money, liquor and musclemen, besides at the border with UP and Haryana. So far 413 FIRs have been registered for violation of model code of conduct and 3024 non-bailable warrants have been issued. A total of 11,763 polling stations have been set up in the city, out of which 630 are critical and highly sensitive. With ANAND KUMAR REPORT THIS IS MEEQAT HASHMI AIR NEWS,DELHI

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In Tamil Nadu, campaigning for the Yercaud Assembly constituency ended this evening. The bypoll for this seat will be held on Wednesday. Paramilitary forces and local police are doing flag march in various parts of the constituency to instil sense of security among voters.

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The Election Commission has served a notice on the Tamil Nadu Chief Minister Ms J.Jayalalitha for violation of model code of conduct. Ms Jayalalitha last week had announced schemes while campaigning for her party candidate at Yercaud Assembly constituency where bye-election will be held on Wednesday.

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Congress today charged BJP with double speak after Gujarat Chief Minister sought a debate on Article 370 at a public rally in Jammu and Kashmir. In a tweet, senior leader and Union Minister Manish Tewari said, even BJP's vision document had no mention on repealing the Article, rather it recognised its existence. Mr Tewari questioned the change in BJP's stand on the issue.

Meanwhile, talking to reporters in New Delhi, senior leader Sushma Swaraj said, Gujarat Chief Minister Narendra Modi only asked if there had been any benefit from Article 370 to Jammu and Kashmir. Modi had sought a debate on the utility of the Article at a rally in Jammu yesterday.

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The Government is determined to pass important pending Bills during the upcoming winter session of Parliament. Talking to media after an all party meeting today, Parliamentary Affairs Minister Kamal Nath said that most important Bill is Lokpal which the government wants to pass during the coming Parliament session. He added that the Bill which is passed in one House of Parliament but pending in another House, is also likely to pass in the forthcoming session.

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The Department of Posts today launched Express Parcel and Business Parcel Service in 20 cities at a function in New Delhi. Launching the service, Secretary, Department of Posts, Ms. P. Gopinath said, the Express Parcel Service is a permium service available for retail as well as bulk customers. She said, it will offer time bound, safe and secure home delivery of parcels within a minimum time. Initially the service will be available between 20 cities including Agra, Banglore, Delhi, Patna, Hyderabad, Mumbai, Shilong and Jammu.

Our Correspondent reports that this Express Parcel Service will offer door-to-door service inlcuding free pick up and delivery.

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THE BUSINESS WORLD

Rising for the third straight session the Sensex at the Bombay Stock Exchange gained 106 points, or 0.5 percent, to close at a one month high of 20,898, today, on sustained buying by funds, amid better-than-expected second quarter GDP growth. The Nifty at the National Stock Exchange advanced 42 points, or 0.7 percent, to 6,218. Stock markets in Japan, China, Hong Kong, South Korea and Singapore ended mixed. The rupee appreciated 13 paise, to 62.31 against the dollar. Gold plunged 510 rupees, to 31,015 rupees per ten grams in Delhi. Silver lost 275 rupees, to 44,800 rupees per kilo. And Brent crude oil futures stood 110 dollars a barrel, while US crude gained 59 cents, to 93.31 dollars a barrel. Rangabashiam, AIR News

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The output of eight core sector industries has contracted by 0.6 per cent in October due to poor showing by coal, oil and gas sectors. The decline in output of eight core sector industries - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity - follows a robust 8 per cent growth in September. According to the data released by the government today, the output of eight infrastructure industries in April-October was a mere 2.6 per cent against 6.8 per cent in the same period of the last fiscal.

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The follow-on public offer (FPO) of Power Grid Corporation of India Limited will open tomorrow. The FPO is for its 17 per cent stake sale and is expected to raise 7,083 crore rupees. The FPO will be open for institutional investors till Thursday while for retail category investors and employees, it will close on Friday.

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In Madhya Pradesh, the Special Task Force-STF has arrested three doctors, including an IAS officer’s son in the alleged pre-PG medical test exam scam. According STF sources these doctors had paid handsome amount and secured higher marks in the pre-PG medical test exam in 2012. A local court of Bhopal has sent all the accused to the police custody till tomorrow.

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At least ten people were killed and four others injured today when a passenger bus fell into a 150 metre deep ravine in Pakistan occupied Kashmir, near the Indian border. The bus was on its way to Forward Kahuta from the garrison city of Rawalpindi.

Police and rescue teams, with the help of local people, kicked off rescue operations and retrieved the dead and injured.

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In Yemen, six suspected al Qaeda militants were killed today in clashes with security forces in the eastern region of Hadramout . According to defence ministry, the militants attacked an army check point at the western entrance of Sayoun killing three soldiers and in the exchange of fire, six suspected al Qaeda fighters were also killed.

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The US authorities have begun an investigation into the causes of yesterday's train crash in the Bronx area of New York in which four people were killed and more than 60 injured. The Metro-North train's locomotive and carriages derailed as the train went into a bend in the railway line near Spuyten Duyvil station. Reports said it was travelling faster than the speed limit in the area.

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Authorities in Nigeria's north-eastern Borno state have imposed a 24-hour curfew on the main city of Maiduguri after an attack early today by suspected Boko Haram militants. According to reports, there were sporadic attacks overnight in the area of the city's airport. The curfew is the first the state government has imposed since 2009.

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India today said that the interim solution on food security as currently designed, is not acceptable to it and the country will not compromise its farmers' interests or succumb to mercantilist ambitions of rich nations. In a statement at a meeting of the G-33 in Bali on the eve of the 9th Ministerial Conference of the World Trade Organization, Commerce and Industry Minister Anand Sharma said, there is a national consensus and complete political unanimity on this matter in India. He said that it is therefore difficult for the country to accept an interim solution as it has been currently designed. Developed countries have proposed an interim solution of four-year 'peace clause' during which, India would not attract penalty even if the 10 per cent cap is broken.

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The News Services Division of All India Radio in its weekly Live Phone-in programme "PUBLIC SPEAK" tonight will bring you a discussion on "Protection of women and children in live-in relationship."

This can be heard on FM Gold Channel and additional frequencies from 9.30 to 10.05 p.m. Listeners can ask questions to the experts sitting in our Studio on telephone number: 011: 2331-4444. This programme is also available on Doordarshan DTH.