For the Week December 29, 2013- January 04, 2014

Weekly Current update ABHIMANU VISIONS

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Table of Contents NATIONAL PERSPECTIVE 3 GOVERNANCE 3 MISUSE OF PADMA SHRI AWARDS 3 FISHERMEN WELFARE SCHEME 3 The objectives of the scheme are as follows: 3 NATIONAL/INTERNATIONAL REPORTS /SURVEYS 4 ANNUAL HEALTH SURVEY 4 MARGINAL INCREASE IN DISABLED POPULATION 5 NSSO: STATISTICS OF DRINKING WATER, SANITATION, HYGIENE (WASH) AND HOUSING CONDITIONS IN INDIA 5 Sufficient drinking water 6 Housing 6 Electricity 6 Drainage 6 Latrine facilities 6 HEALTH 6 MULTI-SECTORAL NUTRITION PROGRAMME 6 ECONOMIC PERSPECTIVE 7 SINGLE TAX TREATMENT 7 WHAT IS MEANT BY A FOREIGN INSTITUTIONAL INVESTOR? 8 How do FIIs invest? 8 Regulations & Investment limit of FII 8 Reason behind its launching 9 QUANTITATIVE EASING PROGRAMME 9 LEAD BANK 9 Lead bank scheme 9 ROLE OF LEAD DISTRICT MANAGER IN THE DISTRICT 9 PROJECT KAMDHENU OF OIL INDIA LTD 10 ABOUT CSR 10 GLOBAL PERSPECTIVE 10 INTERNATIONAL AFFAIRS 10 CHINA 10 LATVIA 11 About the Euro zone 11 INTERNATIONAL RELATIONS 11 INDO-US 11 ENVIRONMENT/ECOLOGY 12 TRIALS FOR GM CROPS 12

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WHAT ARE GENETICALLY MODIFIED CROPS ? 12 GENETICALLY MODIFIED CROPS IN INDIA 12 The case for 13 Case against 13 MISCELLANEOUS 13 PERSONALITIES 13 DEEPIKA KUMARI 14 GENERAL BIKRAM SINGH 14 FAROOQ SHEIKH 14 MR. JAYANTA NARAYAN CHAUDHARY 14 AWARDS & PRIZES 15 About Padma awards 15 NOTES & REFERENCES 15 BITCOIN 15 FREE CFL SCHEME OF TAMIL NADU 16 INDIA EASES NORMS FOR GOLD DORE IMPORTS 16

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NATIONAL PERSPECTIVE

GOVERNANCE MISUSE OF PADMA SHRI AWARDS The Andhra Pradesh High Court directed Telugu film actors Mohan Babu and Brahmanandam to return their Padma Shri Awards1. The duo was found misusing the titles. The court asked the actors to give up these awards to the Union Government for violation of rules accompanying them. Manchu Mohan Babu and Kanneganti Brahmanandam were awarded Padma Shri in 2007 and 2009, respectively. The controversy erupted when the recipients carried the title of Padma Shri as prefix to their names in the credits of the controversial film 'Denikina Ready'. Fishermen Welfare Scheme The Cabinet Committee on Economic Affairs (CCEA) has approved the continuation of the ‘National Scheme for Welfare of Fishermen’ during the 12th Plan Period. The scheme, formulated by the Department of Animal Husbandry, Dairying and Fisheries, Ministry of Agriculture, will be implemented within an outlay of Rs 640 crore, including a central outlay of Rs 320 crore for the remaining part of the 12th Plan Period. Following are the components of this scheme: Group Accident Insurance for active fishermen Development of model fishermen village Saving-cum-Relief and Training and Extension.

The objectives of the scheme are as follows:

1 Padma Shri Awards: Read about Padma Awards in awards & prizes column.

Objectives Provision of basic amenities like drinking water and sanitation in fishers' villages

Better living standards for fishers and their families,

Social security for active fishers and their dependants, and

Economic Security

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During the Twelfth Plan period, the following benefits have been targeted for the fisherman across the country: Additional 4600 houses per year, Coverage of 3.5 lakh fishers under Saving-cum-Relief every year; An additional coverage of 3 lakh fishermen under Group Accident Insurance has

been set; Covering 6400 fishermen per year under Training and Extension.

National/International reports /surveys Annual Health Survey

As per the first round of AHS-2011-12 (Annual Health Survey) released, India has shown only marginal improvement in health indicators in the worst performing districts of the country. The survey finds: Bihar continues to have the highest percentage of girls marrying before completing 18, while

the percentage has come down from 20.2 per cent (2008-2010) to 16.5 per cent. In Rajasthan the percentage has come down to 16.3 from 21.9. The least percentage of child marriages is reported from Uttarakhand at 2.3.

The mean age of marriage for women has gone up by a few months across the nine States surveyed but varies from 20.1 years in Bihar to 22.4 years in Odisha.

Only 29 of the 284 AHS districts have achieved the replacement level of Total Fertility Rate 2 (TFR) of 2 whereas in baseline it was 20 districts.

In 145 districts, on an average, a woman bears more than three children with at least 12.6 per cent married women yet to meet their family planning requirement across all nine States.

Despite wider penetration of ‘any ante-natal care’, the coverage under ‘first trimester ANC’ as well as ‘3 or more ANCs’ needs further improvement. Poor performance of full ANC is primarily due to low iron-folic acid tablet consumption.

Seven out of every 10 deliveries are ‘safe’ in Madhya Pradesh, Rajasthan, Odisha and Assam but universal coverage of Janani Suraksha Yojana remains a concern even in better performing States such as Odisha, M.P. and Rajasthan.

Only 20 per cent women avail of JSY in Jharkhand whereas the figure is more than 69 per cent for Madhya Pradesh.

In full immunisation, even the better performing States such as Uttarakhand, Chhattisgarh and Rajasthan fall short by 22-30 percentage points in achieving the target. As many as 73

2 TFR: Average number of children born to a woman during her entire reproductive span.

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districts are below 50 per cent level of full immunisation. Only two districts — one each in Chhattisgarh and Rajasthan — continue to remain in 90 per cent and above category.

Madhya Pradesh has shown a marked improvement in institutional deliveries as the percentage has touched 80 as against 76 in the baseline study, but in Chhattisgarh only 40 per cent women deliver in healthcare facilities. Balrampur in U.P. recorded the least 22 per cent institutional deliveries whereas Puri in Odisha the most at 94 per cent.

Marginal increase in disabled population The latest Census figures on disabilities have shown only a marginal increase in the number of differently-abled people in India with the figure rising from 21.9 million in 2001 to 26.8 million in 10 years. In percentage terms, it has risen from 2.13 per cent to 2.21 per cent, as per the Census 2011 figures released by the Registrar General of India. In the 2011 Census, information was gathered on eight types of disability including mental

disability. The total number of disabled people in the rural areas are over 18 million and just 8.1 million

enumerated in the urban areas There are 14.9 million men with disabilities as compared to 11.8 million women in the

country. The percentage of men with disabilities is 2.41 as against 2.01 in women. State-wise data shows, Andhra Pradesh, Maharashtra, Orissa and Jammu and Kashmir have

more than 2.51 per cent disabled population whereas in Tamil Nadu, Assam, Meghalaya, Assam and Nagaland, the percentage is less than 1.75.

Social groups wise analysis shows, 2.45 per cent of the total disabled population belong to the Scheduled Castes, 2.05 to the Scheduled Tribes and 2.18 per cent to other than SC/ST.

The proportion of women suffering from seeing, hearing and multiple disabilities is higher than men.

Age-wise break-up of the data suggests disability is more among people aged 80 years and above, and the least among children aged up to 4 years.

Assessments by various non-government organisations suggest between 5 and 6 per cent of the country’s 1.2 billion population suffers from some kind of disability.

NSSO: Statistics of drinking Water, Sanitation, Hygiene (WASH) and housing conditions in India Data released by the National Sample Survey Office (NSSO), under the Ministry of Statistics and Programme Implementation, showed almost 60 per cent of people staying in rural India do not have access to latrine facilities. The released data included the key indicators of drinking water, sanitation, hygiene and housing conditions in India, generated from the data collected in

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the NSSO’s 69th round survey from July 2012 to December 2012. Key findings of the survey with respect to different sectors are as follows:

Sufficient drinking water

Among rural households, 85.8 per cent had sufficient drinking water and for urban India, the corresponding figure was 89.6 per cent.

Percentage of households which got drinking water facilities within premises was 46.1 per cent in rural India and 76.8 per cent in urban India.

Housing 65.8 per cent of rural households and 93.6 per cent of urban households lived in a house with a concrete

structure while 24.6 per cent of rural households and 5 per cent of urban households lived in a house with semi-concrete structure during 2012.

Electricity Eighty per cent of rural households and 97.9 per cent of urban households had electricity for domestic use.

Drainage On drainage system 31.7 per cent rural and 82.5 per cent urban households had improved drainage facility. In rural households, 32 per cent had some garbage disposal arrangement, whereas it was 75.8 per cent in

urban areas.

Latrine facilities 59.4 per cent and 8.8 per cent households in rural India and urban India respectively had no latrine

facilities”. Among the households having latrine facilities, 31.9 per cent and 63.9 per cent households in rural India and

urban India respectively had access to its exclusive use. About 38.8 per cent and 89.6 per cent households in rural and urban India respectively had access to ‘improved’ type of latrine.

HEALTH Multi-sectoral Nutrition Programme

The Centre has approved the rollout of the Multi-sectoral Nutrition Programme to address the problems of maternal and child under-nutrition in the country.

The programme will be implemented in 200 high-burden districts in two phases at an estimated cost of Rs. 1,213.19 crore.

It will be a Centrally Sponsored Scheme under the National Nutrition Mission, with the Centre-State cost sharing ratio 90:10 for all components in the north-eastern States and special category States, and 75:25 for the other States and the Union Territories.

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The first phase which has begun in 100 districts in 2013-14, and the rest will be covered in the second in 2014-15.

The National Mission Steering Group and the Empowered Programme Committee constituted for Integrated Child Development Services (ICDS) Mission will be the highest administrative and technical bodies for ensuring effective planning, implementation, monitoring and supervision.

The programme will bring in strong nutrition focus in various sectoral plans and provide gap-filling support to key nutrition-related intervention targets to contribute to the prevention of and reduction in child under-nutrition (underweight prevalence in children under three); and reduction in the levels of Anemia among children, adolescent girls and women. It will also work for the establishment of State and District Nutrition Councils.

The highest number of districts, with a high burden of under-nutrition, have been identified

in Uttar Pradesh with the number being as high as 41, followed by Madhya Pradesh at 30, Rajasthan and Maharashtra at 20, Bihar at 17 and Gujarat with 15.

Economic Perspective SINGLE TAX TREATMENT

In order to provide simpler regime 3 for foreign portfolio investments into India, the Securities and Exchange Board of India (SEBI) and the finance ministry had agreed to a similar tax treatment for all categories of foreign investors. Differences over tax treatment between SEBI and the income-tax department had delayed the implementation of the Foreign Portfolio Investors (FPI) Regulations, 2013, which the SEBI board had cleared in October. Under the earlier system, tax treatment for foreign institutional investors (FIIs) was different from that for sub-accounts and qualified foreign investors (QFIs). As per their risk profiles, FPIs are divided into three categories. Category I- the lowest risk entities comprises foreign government and government-related

foreign investors. Category II – regulated entities such as university funds, university-related endowments

and pension funds, etc. Category III – other entities viz. Qualified Foreign Investors (QFIs), etc The clarity on tax treatment of FPIs is aimed at encouraging inflows into the domestic equity and debt markets. 3 Regime: a method or system of organizing or managing sth

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What is meant by a Foreign Institutional Investor? FIIs are entities incorporated or established outside India who are allowed to invest in Indian

capital market. FIIs include asset management companies, pension funds, mutual funds, investment trusts

as nominee companies, incorporated / institutional portfolio managers or their power of attorney holders, university Funds, endowment Foundations, charitable trusts and charitable societies.

How do FIIs invest? FIIs are allowed to invest on behalf of their sub accounts (underlying fund on whose behalf

FIIs invest). Entities eligible to be registered as sub accounts are partnership firms, private company, public company, investment trusts and individuals.

Regulations 4 & Investment limit of FII FIIs are required to be registered with SEBI in order to invest in Indian capital market. SEBI acts as the nodal point in the registration of FIIs. The RBI has granted general

permission to SEBI registered FIIs to invest in India under the Portfolio Investment Scheme (PIS).

FIIs can invest in equity (primary and secondary market), dated government bonds, corporate bonds, and mutual funds traded on a recognized stock exchange subject to investment limits.

VCES The Service Tax Voluntary Compliance Encouragement Scheme (VCES) has been announced in this year’s budget. It has come into effect from 10.5.2013. VCES is the opportunity for such persons who either on account of ignorance of law or otherwise have not paid service tax dues for the period from Oct. 2007 to Dec. 2012, to pay the “tax dues” and come clean. On payment of “tax dues” relating to the period under VCES, there will be a complete waiver of interest, penalty and other consequences. During the course of interaction with the trade associations on the VCES, certain issues have been raised for clarification and apprehensions have been expressed regarding certain provisions of the Scheme

4 Regulations of FII: The regulations for foreign investment in India have been framed by the Reserve Bank of India in terms of Sections 6 and 47 of the Foreign Exchange Management Act, 1999 and notified vide Notification No. FEMA 20/ 2000-RB dated 3rd May 2000 viz. Foreign Exchange Management (Transfer or issue of Security by a person Resident outside India) Regulations 2000, as amended from time to time. In line with the said regulations, since 2003, the Securities and Exchange Board of India (SEBI) has been registering FIIs and monitoring investments made by them through the portfolio investment route under the SEBI (FII) regulations 1995. SEBI acts as the nodal point in the registration of FIIs.

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Reason behind its launching Revenue from service tax has grown by over 300 times in past two decades. According to provisional figures the revenue from service tax touched about 1.32 lakh crore rupees in 2012-13, compared to 407 crore rupees earned in 1994-95, when service tax was introduced. The number of assessees has also gone up by over 400 times during this period. The total number of taxable services has also increased, from 3 in 1994, to 119 in 2012.

Quantitative Easing Programme As the U.S. economy and job market are on firmer footing in recent months, the U.S. Federal Reserve finally announced it would unwind its massive bond purchases programme (started in 2008) also known as Quantitative easing (QE) starting January. Quantitative easing (QE) is the Federal Reserve's program of buying bonds from its member banks. The Federal Reserve purchases U.S. Treasury notes and mortgage-backed securities (MBS), and issues credit to the banks' reserves to buy the bonds. The purpose of this expansionary monetary policy is to lower interest rates and spur economic growth. The programme has had major consequences not only for the U.S. economy but even for India and the rest of the world. Countries too, in need of capital to fund their own growth, welcomed such capital. Not surprisingly, Indian stock markets absorbed some of those flows. According to one reliable estimate, around $31 billion of FII money was invested in the Indian stock markets since QE2 began. Pertinently, given that India was registering large current account deficits for most of this period, these short-term flows assumed crucial significance for balancing the country’s BoP (Balance of Payment). Lead bank The Reserve Bank has assigned State Bank of India (SBI) to act as the lead bank in four newly constructed districts in Meghalaya. The four new districts created in the state are North Garo Hills, East Jaintia Hills, South West Khasi Hills and South West Garo Hills. Lead bank scheme On the basis of the recommendations of both the Gadgil Study Group and Banker’s Committee (Nariman Committee) Reserve Bank of India introduced the “Lead Bank Scheme” towards the end of 1969. To enable banks to assume their lead role in an effective and systematic manner, all districts in the country (excepting the metropolitan cities of Mumbai, Kolkata, Chennai and certain Union Territories) were allotted among Public Sector Banks and a few Private Sector Banks. The role of Lead bank is to act as a consortium leader for co-coordinating the efforts of all credit institutions in each of the allotted districts for expansion of branch banking facilities and for meeting the credit needs of the rural economy. For the preparation of District Credit Plans and monitoring their implementation a Lead bank Officer (LBO) now designated as Lead District Manager was appointed in 1979. Role of Lead District Manager in the District

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Collection of various data from Scheduled Commercial Banks, Regional Rural Banks, Co-operative Banks, other banks and various government agencies.

Monitoring the implementation of annual credit plan and various Government Sponsored Schemes in the district.

To raise the issue in order to impart requisite infrastructure in order to achieve Annual Credit Plan effectively. He should also play a leading role in poverty alleviation programmes launched by the State/Central Government.

Preparation of Annual Credit Plan for the district.

Project Kamdhenu of Oil India Ltd As part of a corporate social responsibility (CSR) initiative Oil India Ltd (OIL) has decided to step into dairy sector under its project ‘Kamdhenu’ and has signed an agreement with Institute of Rural Management, Anand (IRMA) to carry out a feasibility study. About CSR According to Companies Act 2009, CSR or Corporate Social Responsibility is the obligation of the companies to spend 2% of their net profit in philanthropic activities every year. The law was meant to be applicable for all companies with

A net worth of Rs 500 crore or more, or A turnover of Rs 1,000 crore or more, or A net profit of Rs 5 crore or more

Responding to the objections raised by corporate sector against this mandatory provision, the government has recently diluted it. Now, if a company is unable to do so, it will have to explain in its report as to why it could not fulfil its CSR obligations.

GLOBAL PERSPECTIVE

INTERNATIONAL AFFAIRS China

China's top legislature approved resolutions to officially amend its controversial one-child policy and end re-education through labour camps. Under the new policy, couples will be allowed to have two children if one of the parents is an only child. Previously, a couple could generally only have a second child if both parents were only children. The plan was envisioned by the government about five years ago, with officials worried that the strict controls were undermining economic growth and contributing to a rapidly ageing population China had no hope of supporting financially.

Parliament also approved the abolition of the "re-education through labour" system, in place since 1957, which allows police to sentence petty criminals to up to four years' confinement in labour camps without going through the courts. Critics say the system undermines the rule of

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law and is often used against political activists and followers of Falun Gong, a banned spiritual group.

The resolution, formally approved by China's largely rubber- stamp parliament will allow local legislatures to decide when to implement the policies.

Latvia The Baltic nation, Latvia has joined the Euro Zone, with the expectation that the euro will lower its borrowing costs and encourage investors by eliminating currency risk. It became the 18th member of the European Union, which uses the Euro as its currency and the fourth smallest economy in the euro zone after Malta, Estonia and Cyprus.

The euro is Latvia’s fourth currency in 23 years, following the Soviet rouble; the Latvian rouble, which was introduced after the country regained independence in 1991; and the Lat5, which came into circulation in 1992, resurrecting the money Latvia used before Soviet occupation in 1940. About the Euro zone Established by the provisions in the 1992 Maastricht Treaty the Euro zone is an economic and monetary union (EMU) of 18 European Union (EU) member states that have adopted the euro as their common currency and sole legal tender. Member states6

INTERNATIONAL RELATIONS INDO-US

India and the US have inked another mega contract, the $1.01 billion one for six additional C-130J "Super Hercules" aircraft, while some others are being finalized. According to Defence ministry six new four-engine C-130Js will be delivered within three years and the contract was signed under the US government's "foreign military sales" (FMS) programme.

IAF already has six C-130Js tactical airlift aircraft, which are based at the Hindon airbase on the outskirts of Delhi. The six new C-130Js will be based at Panagarh in West Bengal. Panagarh will also house the headquarters of the new mountain strike corps, christened XVII Corps with a total of over 80,000 soldiers, being raised by the Army in a project worth around Rs 90,000 crore.

5 Lat: currency of Latvia

6 Member states: Member States: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. Central bank: European Central Bank

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This new corps will plug operational gaps along the 4,057-km Line of Actual Control (LAC) as well as give "some serious ground offensive capabilities" against China for the first time.

Environment/Ecology Trials for GM crops

The Indian government is trying to persuade the Environment Ministry to accept the Agriculture, and Science and Technology Ministries’ views in favour of immediately going ahead with field trials of genetically modified (GM) food crops.

This is being done in response to reports filed by the Technical Expert Committee before the Supreme Court which had advocated a moratorium on field trials till a new regulatory regime is put in place. The Biotechnology Regulatory Authority Bill is already pending in the Parliament.

But before this the attempt at the level of the Cabinet Secretary to forge such a common stance in favour of permitting field trials of GM food crops, which is being advocated by the Agriculture and Science ministries, along with the biotech industry, faced the reality of diametrically opposite views prevailing in the government. The former Environment Minister, Jayanthi Natarajan, had put her opposition to GM food crop trials on record.

What are Genetically Modified Crops ? Genetically modified crops (GM crops) are crops which have had their DNA altered in a way that does not occur naturally. Individual genes which promote durability or nutritional value are transferred from one organism to another to create biologically robust plants. Initially developed in response to growing concern about protecting crops from insects, unusual weather patterns and harmful pesticides, GM crops are becoming more and more mainstream, dividing public opinion about the health and environmental impacts of producing and consuming crops produced in a lab. Genetically modified crops in India The argument surrounding GM crops in India has run hot since the introduction of

genetically modified cotton seed in 2002. At first heated, discussions about its merits died off somewhat when Bt Brinjal (a variety of modified eggplant) was placed under moratorium. Initially cleared for use in 2009, Bt Brinjal was put on the backburner in early 2010 after NGOs and environmentalists protested about its health impacts. The government has since been accused of collusion and of overlooking key aspects such as risks posed to environment and health by Bt Brinjal in order to hasten its introduction. Currently, up to 71 varieties of GM crops are at various trial stages in India, including rice and vegetable crops.

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Malpractice among companies who make or supply GM crops is also a cause of concern. On August 8 2012, the Maharashtra state government announced it would ban Mahyco Monsanto Biotech (a joint seed venture between Maharashtra-based Mahyco and US-based GM Company Monsanto) from trading cotton within state boundaries. The ruling came at the request of farmers who had filed complaints against Mahyco Monsanto Biotech, stating the company provided poor quality seeds, deliberately created seed shortages and was involved in black market trade.

According to a paper submitted to parliament in August 2012 titled “Cultivation of Genetically Modified Food Crops – Prospects and Effects”, the debate over GM crops divides government right down the middle with various ministries and departments sitting on either side of the argument. A number of state governments including Madhya Pradesh, Bihar and Kerala have banned the use of GM crops and won’t allow field trials to be carried out in these states. The case for The general argument in the case for GM crops hinges on two key areas: economics and global

hunger. The ability to grow and reap an abundance of crops which are sturdy and durable in nature is one of the key proponents of the GM crop argument while a lack of dependency on weather and external factors for the assurance of a bumper crop is argued to be one solution to famine brought on by deficits in crop yields.

Organizations such as the Bill and Melinda Gates Foundation have injected millions of dollars into research and development of crops which are drought-resistant, flood-resistant and which are not reliant upon fertilizer. With global weather patterns in a state of flux, and rainfall becoming harder to predict in India, there are many who argue that GM crops provide a means for farmers to maintain their livelihood in the face of changing climate conditions.

A recent study by German university Georg-August-University found that, in some instances, GM crops can yield positive economic results for farmers in India. Conducted over the course of six years, the study found that farmers using the genetically enhanced Bt cotton increased crop yields by 24 percent, while profits soared by 50 percent.

Case against Longstanding arguments against GM crops state that GM crops and the food they produce can adversely harm human health (in the form of allergic reactions and transfer of antibiotic-resistant genes from GM foods to the human body), while environmental impacts of GM crops can encompass issues such as negative impact on a non-target organism, possible loss of other conventional plants, ability of any GM organism to introduce engineered genes to native fauna and an increase in the use of chemicals in agriculture.

MISCELLANEOUS PERSONALITIES

JACQUELINE ZWAMBILA

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Jacqueline Zwambila is Zimbabwe’s ambassador to Australia who has asked Canberra for asylum. Mr. Mugabe, Africa’s oldest leader who has been in power for 33 years, began a new five-year term after winning a landslide victory in disputed elections end of July.

Deepika Kumari Ace archer Deepika Kumari created history by clinching her sixth consecutive title at the 34th National Archery Championships held at JRD Tata Stadium, Jamshedpur. With this achievement, Deepika now holds more individual titles at the national meet than Dola Banerjee, who won 5 national titles. However, the record of winning most individual titles is still held by Bengal archer Krishna Ghatak, with seven consecutive titles between 1975 and 1982. General Bikram Singh Army chief General Bikram Singh has recently been handed over the baton of Chairman of Chiefs of Staff Committee (COSC) by Air Chief Marshal N.A.K. Browne. Farooq Sheikh Passed away recently, Farooq Sheikh was an Indian actor, philanthropist and a popular television presenter. He was best known for his work in Hindi films from 1977 to 1989 and for his work in television between 1988 and 2002. Arup Raha Arup Raha has taken over as the 24th Chief of the Air Staff from N.A.K. Browne. The new Air chief is an experienced Qualified Flying Instructor (QFI) holding ‘A2’ instructional category and had been commissioned into the Flying Branch in December 1974. Mr. Raha is an alumnus of Defence Services Staff College and the National Defence College and has held many operational assignments such as Command of a MiG-29 Squadron, Bhatinda in Punjab during ‘OP PARAKRAM’. Mr. Jayanta Narayan Chaudhary Mr. Jayanta Narayan Chaudhary appointed as new chief of National Security Guard (NSG). Mr. Chaudhary is the 1978 batch IPS officer of Assam-Meghalaya cadre and is due to retire in May 2015. He succeeded Arvind Ranjan. About NSG The NSG was established under the National Security Guard Act of 1986 and was formed after an analysis of 1984 Operation Blue Star. The NSG operates under the oversight of the Ministry of Home Affairs and is headed by the Director General of the Indian Police Service (IPS). The

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NSG members are also known as Black Cats because of the black drill cotton coveralls and balaclavas 7 or helmets they wear. It acts as a Federal Contingency Deployment Force to tackle all facets of terrorism in the country The NSG's specific goals include:

Neutralization of terrorist threats Handling hijacking situations in air and on land. Bomb disposal (search, detection and neutralisation of IEDs). PBI (Post Blast Investigation) Engaging and neutralizing terrorists in specific situations. Hostage Rescue

Awards & Prizes About Padma awards

The awards are announced on the occasion of Republic Day every year and are conferred by the President of India. Padma Awards are conferred in three Categories viz. Padma Vibhushan, Padma Bhushan and Padma Shri. The Awards are given in all disciplines/ fields of activities, viz. art, social work, Public affairs, science and engineering, trade and industry, medicine, literature And education, sports, civil service, etc. ‘Padma Vibhushan’ is awarded for exceptional and distinguished service; ‘Padma Bhushan’ for distinguished service of high order and ‘Padma Shri’ for distinguished service in any field.

NOTES & REFERENCES BITCOIN

Bitcoin is a digital currency, meaning it’s money controlled and stored entirely by computers spread across the internet, and this money is finding its way to more and more people and businesses around the world. Bitcoin isn’t just a currency, like dollars or Euros or yen. It’s a way of making payments, like PayPal or the Visa credit card network. It lets you hold money, but it also lets you spend it and trade it and move it from place to place, almost as cheaply and easily as you’d send an email. Bitcoin enables to do all this without revealing your identity, a

7 Balaclava: a type of hat made of wool that covers most of the head, neck and face

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phenomenon that drove its use on The Silk Road, an online marketplace for illegal drugs. But at the same time, it’s a system that operates completely in the public view. All Bitcoin transactions are recorded online for anyone to see, lending a certain transparency to the system. It’s a re-imagining of international finance, something that breaks down barriers between countries and frees currency from the control of federal governments. Bitcoin is controlled by open source software that operates according to the laws of mathematics — and by the people who collectively oversee this software. The software runs on thousands of machines across the globe, but it can be changed. It’s just that a majority of those overseeing the software must agree to the change.

Free CFL scheme of Tamil Nadu Tamil Nadu government today launched the first phase of providing free compact fluorescent

light bulbs to over 14 lakh hut-dwellers in the state, an energy-saving measure aimed at saving 40 mw of power.

The scheme of providing free CFL bulbs was launched by Tamil Nadu government with an objective of promoting power-saving measures. According to the state the initiative will help the government save about 40 mw electricity.

India eases norms for gold Dore imports India’s central bank, Reserve Bank of India (RBI), partially eased restrictions on import of gold dore bar (semi pure alloy of gold and silver) by allowing refineries to import 15 per cent of their gross annual requirement in first two months and remaining as per export performance. The apex bank made it clear that before the next import, not more than 80 per cent should be allowed to be sold domestically. Amid India's widening current account deficit and the sliding rupee, both the RBI and the government had imposed curbs on gold imports.