India's economic growth surges in March quarter

Labourers works at the construction site of a residential building in Mumbai, February 4, 2016.

REUTERS/SHAILESH ANDRADE/FILES

New Delhi : India gathered momentum in the March quarter to extend its lead as the world's fastest growing large economy, helping Prime Minister Narendra Modi craft an impressive sales pitch for meetings with investors in the United States next week.

Modi is due to travel to Washington on June 7-8 where he will meet heads of top U.S. companies.

Having swept to power two years ago promising to revitalize Asia's third-largest economy, Modi has boosted spending on defense and infrastructure, while consumer demand has risen thanks to lower interest rates.

Those pro-growth policies helped gross domestic product INGDPQ=ECI grow 7.9 percent year-on-year in the March quarter, faster than the December quarter's 7.2 percent.

A Reuters survey of economists had forecast growth of 7.5 in the March quarter.

The strong headline number masks subdued private investment and shrinking exports, which continue to hold India back.

Still, India's growth has overtaken that of fellow Asian giant China, which grew 6.7 percent in the March quarter - the slowest in the world's second largest economy in seven years.

The figures from India's Statistics office also showed GDP grew 7.6 percent in the 2015/16 fiscal year that ended in March, in line with an earlier official estimate. Growth was 7.2 percent in 2014/15.

Success in bringing down inflation has given the Reserve Bank of India (RBI) room to cut its policy repo rate by 150 basis points since January 2015, reducing it to 6.50 percent - the lowest level in more than five years.

The GDP data reinforced expectations that the RBI would keep its policy rate on hold at a review next Tuesday.

"Momentum is building up faster than anticipated and there is a demand pick-up on the horizon," said Shubhada Rao, chief economist at Yes Bank.

"This definitely spells out a positive story that there will soon be a recovery in private sector capex."

Growth in the March quarter was driven by a rebound in farm output, an improvement in mining and a sharp pickup in electricity production.

The farm sector grew by 2.3 percent from a year ago compared with a 1.0 percent contraction in the December quarter.

With good rain forecast, after two successive years of drought, farm sector output should improve in coming months and lift depressed demand in the countryside where two-thirds of Indians live.

Mining grew 8.6 percent in the March quarter, up from 7.1 percent in the previous quarter. Electricity, water and gas production growth jumped to 9.3 percent from 5.6 percent in the December quarter.

India Signs Grant Agreement with IBRD, acting as an Implementing Agency of the Global Environment Facility for US $ 9.20 million for Efficient and Sustainable City Bus Service Project

An agreement for Global Environmental Facility (GEF) Grant of USD 9.20 Million with theWorld Bank for"Efficient and Sustainable City Bus Service Project" was signed here today by Shri Rai Kumar. Joint Secretary (MI), Department of EconomicAffairs on behalf of the Government of India and Mr. Onno Ruhl, Country Director, World Bank (India) on behalf of IBRD, acting as an Implementing Agency of theGlobal Environment Facility. Representatives from Ministry of Urban Development and State Governments of Madhya Pradesh, Maharashtra, Rajasthan and Chandigarh (UT) were also present on the occasion. 

The total program cost is USD 113.0 million, with USD 9.20 million as grant from the GEF and USD 103.07 million from Government of India and state & city governments for funding of buses and ancillary infrastructure. 

The project's development objective is to improve the efficiency and attractiveness of city bus transport and reduce greenhouse gas emissions in the demonstration cities. It comprises: (i) a national capacity building component to be implemented by Ministry of Urban Development (MoUD); and (ii) city demonstration projects in the cities of Bhopal, Chandigarh, Jaipur and Mira Bhayandar. 

Index of Eight Core Industries (Base: 2004-05=100) April, 2016

The summary of the Index of Eight Core Industries (base: 2004-05) are as follows

            The Eight Core Industries comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP).  The combined Index of Eight Core Industries stands at 176.4 in April, 2016, which was 8.5 % higher compared to the index of April, 2015. Its cumulative growth during April to March, 2015-16 was 2.7 %.

Coal

            Coal production (weight: 4.38 %) decreased by 0.9 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 increased by 4.6 % over corresponding period of previous year.

Crude Oil

            Crude Oil production (weight: 5.22 %) decreased by 2.3 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 decreased by 1.4 % over the corresponding period of previous year.

Natural Gas

            The Natural Gas production (weight: 1.71 %) decreased by 6.8 % in April, 2016 overApril, 2015. Its cumulative index during April to March, 2015-16 declined by 4.2 % over the corresponding period of previous year.

Refinery Products (93% of Crude Throughput)

            Petroleum Refinery production (weight: 5.94%) increased by 17.9 % in April, 2016 overApril, 2015. Its cumulative index during April to March, 2015-16 increased by 3.8 % over the corresponding period of previous year.

Fertilizers

            Fertilizer production (weight: 1.25%) increased by 7.8 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 increased by 11.3 % over the corresponding period of previous year.

Steel (Alloy + Non-Alloy)

            Steel production (weight: 6.68%) increased by 6.1 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 declined by 1.4 % over the corresponding period of previous year.

Cement

            Cement production (weight: 2.41%) increased by 4.4 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 increased by 4.7 % over the corresponding period of previous year.

Electricity

            Electricity generation (weight: 10.32%) increased by 14.7 % in April, 2016 over April, 2015. Its cumulative index during April to March, 2015-16 increased by 5.2 % over the corresponding period of previous year.

India continues to remain a bright spot in world economy with robust macro-economic and fiscal parameters;

Together with GDP growth of 7.9% in Q 4 of 2015-16 and 7.6% in the whole of 2015-16

The Provisional Accounts for 2015-16 have been released by the Government today (31.5.2016). Fiscal Deficit in 2015-16 stands at 3.9% of GDP as estimated both in BE and RE of 2015-16. This is a significant improvement over the Fiscal Deficit of 4.1% in 2014-15 and 4.7% in 2013-14.

Revenue Deficit has also shown significant improvement due to increase in Capital Expenditure of the Central Government. Revenue Deficit which stood at 3.2% of GDP in 2013-14 has improved to 2.9% in 2014-15 and 2.5% in 2015-16. The Capital expenditure has increased substantially to Rs 2,35,253 crore in 2015-16 which is an increase of Rs. 38,572 crore over 2014-15 and Rs.47,578 crore over 2013-14.

Similarly, the Plan Expenditure in 2015-16 is Rs. 4,71,081 crores which is higher by Rs. 8437 crores over the previous year despite substantial increase in share of tax devolution to the States.

The Gross tax collection at Rs. 14,56,887 crore has shown 17% growth as compared to Fiscal 2014-15. The Gross tax collection has improved to 10.74% of GDP (tax-GDP ratio) in 2015-16 as compared to 10.06% in 2013-14. The devolution of tax collections to State Governments in 2015-16 is Rs..5,06,193 crore, which shows an increase of Rs. 1,68,385 crore over the devolution of Rs.3,37,808 crore in 2014-15. In 2013-14 the tax share devolution to the States was Rs. 3,18,230 crore.

Non Tax Receipts are Rs. 2,50,744 crore this year as compared to Rs..1,97,766 crore last year and Rs.1,98,865 crore in 2013-14.

The above highlights clearly indicate that the fiscal parameters are very robust and in line with the Budget projections. Together with GDP growth of 7.9% in Q 4 of 2015-16 and 7.6% in the whole of 2015-16, India continues to remain a bright spot in world economy with robust macro economic and fiscal parameters. 

Microsoft Nadella meets PM Modi

The Microsoft CEO, Shri Satya Nadella calling on the Prime Minister, Shri Narendra Modi, in New Delhi on May 30, 2016.

The Microsoft CEO, Shri Satya Nadella calling on the Prime Minister, Shri Narendra Modi, in New Delhi on May 30, 2016.

India-US to sign 2 key pacts during Homeland Security Dialogue

New Delhi, May 30 (PTI) India and the US are likely to sign two key agreements in July that would exempt prominent Indian citizens from immigration checks in America and pave the way for exchange of information on terrorists on a real time basis.

The two pacts on Global Entry--a US Customs and Border Protection programme that permits speedy clearance for pre-approved, low-risk travellers upon arrival in America and the Homeland Security Presidential Directive-6 (HSPD-6), which allows access to information on terrorists-- are expected to be signed during the Homeland Security Dialogue.

Home Minister Rajnath Singh will lead the Indian delegation at US-India Homeland Security Dialogue to be held in Washington in July, while the US team would be headed by Secretary of Homeland Security Jeh Charles Johnson.

The US has been pressing for India's inclusion in the Global Entry so that high dignitaries like former Presidents, former Prime Ministers, former Union Ministers, film stars, top industrialists and frequent flyers could visit America without any hassle, a senior government official said.

Initially, the names of around 2,000 prominent Indians could figure in the coveted list, which would be expanded gradually after proper background checks of each individual.

Individuals included in the list enter the US through automatic kiosks at select airports. At airports, programme members proceed to Global Entry kiosks, present their machine-readable passport, place their fingerprints on the scanner for fingerprint verification and complete a customs declaration.

The kiosk issues the traveller a transaction receipt and directs the traveller to baggage claim and the exit.

Two important conditions for inclusion of an individual in the Global Entry programme are that he or she should not have any criminal record or be in anyway connected with a money laundering case.

India's ONGC Videsh, Azerbaijan's SOCAR to jointly trade oil: source

India's ONGC Videsh (OVL) is set to make a foray into oil trading and has signed an initial pact with the trading arm of Azerbaijan's state energy company SOCAR, a source privy to the agreement said.

OVL, the overseas acquisition arm of India's biggest explorer Oil and Natural Gas Corp, plans to initially sell its share of oil from the large Azeri, Chirag and Guneshli (ACG) group of fields in Azerbaijan through the new venture, the source said.

"At a later stage, OVL will look at opportunities to market its oil from other assets through the planned trading company with SOCAR," the source added.

OVL, which has stakes in oil and gas assets in 16 countries including Russia, Sudan and Brazil, produced about 178,400 barrels per day of oil and gas equivalent in the fiscal year to March 31, 2016.

Currently, Mangalore Refinery and Petrochemicals Ltd, a subsidiary of ONGC, trade oil produced by assets of OVL.

Jaitley to 'take India story forward' with Japanese investors

 

Tokyo, May 30 (PTI) Eyeing investments from Asia's second-biggest economy, Finance Minister Arun Jaitley said his visit to Japan is aimed at taking India growth story forward with investors so as to make them invest in a host of sectors, including infrastructure.

"We already have over a thousand Japanese companies which have invested in India. (Japanese) Prime Minister (Shinzo) Abe seeks to double it and therefore, I would be meeting individually as well as collectively a large number of investors," said Jaitley, who arrived here yesterday on a 6-day tour.

Apart from investors, the minister will meet Abe and other Japanese government officials.

"The whole idea is to take the India story forward with them," said Jaitley, who attended 'The Future of Asia' conference here today. He did not speak at the conference.

Stating that there are investors and companies that are keen to participate in the growth of Indian infrastructure, he said the SoftBank group is looking at one of the biggest investments in solar energy.

"They have made considerable headway already. They have identified the location and probably (it) will be one of the largest investments in those areas," he said.

Jaitley had met SoftBank Chief Executive Masayoshi Son here yesterday.

"I think similarly there are other Japanese investors who are open to the idea of having individual projects," he said.

"We are open to the idea of them joining the India Infrastructure Investment Fund (NIIF) and this Indian flexibility provides them with more than one opportunity."

NIIF is being set up with a corpus of Rs 40,000 crore, partly funded by private investors, to finance infrastructure projects, including stalled ones.

The government and public sector entities will hold 49 per cent, with the rest offered to multilateral development banks, sovereign wealth funds, pension funds and other organisations.

NIIF will then buy shares in existing infrastructure lenders such as Rural Electrification Corporation and Power Finance Corporation, which will provide debt to selected projects.

While NIIF will have a quasi-sovereign status, external asset management companies will be in-charge of treasury operations. Boosting infrastructure investment by 1 per cent of GDP could add 3.4 million jobs.

Asked if Japanese investors have identified any project, Jaitley said, "Well, many of them have. For instance, SoftBank itself in Andhra Pradesh has identified the solar power project and there are many others who have identified and are talking and looking beyond solar power now.

President of India Presents Malti Gyan Peeth Puraskar

The President, Shri Pranab Mukherjee in a group photograph, during the Malti Gyan Peeth Puraskar, at Rashtrapati Bhavan, in New Delhi on May 29, 2016.

The President of India, Shri Pranab Mukherjee presented the Malti Gyan Peeth Puraskar for the year 2016 today (May 29, 2016) at a function held at Rashtrapati Bhavan.

Speaking on the occasion, the President said that the award ceremony coincided with the 95^th birthday of Smt. Malti Mohinder Singh Syngle. He conveyed his best wishes to her on her birthday and wished that God may grant her the strength to continue her seven decades of dedicated service to the cause of education. He complimented Shri Manoj Singhal, President of the Mohinder Singh Syngle Education and Research Society, for his initiative in introducing this Award and for his passion in spreading quality education in the rural areas. He also complimented the efforts of the state government of Punjab for recognizing and collaborating with the selection process. 

The President said that the teachers who had been awarded represent the dedicated teachers who are educating and extending learning opportunities to thousands of students in the country. From the Vedic era to modern times, we have had the ‘Guru-Shishya parampara’ and ‘gurus’ who nourished the minds and intellect of our people. Such teachers are there even today. He called them inspired teachers. He stated that they encourage students to be inquisitive and explore new frontiers of knowledge and understanding. Inspired teachers themselves have deep knowledge of their subject areas. They are able to assist students in understanding and appreciating the subject from different perspectives, and in fact, help them in constructing new knowledge.

The President said that a pool of competent and motivated teachers, through their collective efforts, can create a society of strong minds and courageous hearts. He said that he had said earlier that education is the true alchemy that can bring India to its next golden age. To realize this ambition, we must proceed with the motto: All for Knowledge, and Knowledge for All.

Among the dignitaries present on the occasion were Smt. Maneka Sanjay Gandhi, Union Minister of Women and Child Development, Shri Manish Sisodia, Dy. Chief Minister of NCT Delhi, Shri S. S. Maluka, Minister of Rural Development & Gram Panchayat, Govt. of Punjab and Dr. D. S. Cheema, Education Minister, Govt. of Punjab.   

ISRO to launch record 22 satellites in single mission in June

A panaromic view of the fully integrated PSLV C-31 rocket at the Satish Dhawan Space Centre at Sriharikota. Photo: ISRO

ISRO today said it will launch a record 22 satellites in a single mission next month.

“After the current reusable launch vehicle, the next experiment what we have to do we have to worry about that. Other than that, next month we have a launch where we will be launching about 22 satellites. Also one of a cartographic series satellite will be launched,” ISRO Chairman Kiran Kumar said.

Speaking on the sidelines of an event organised by Federation of Karnataka Chambers of Commerce and Industry (FKCCI), he said that of the 22 satellites, three are Indian and the rest all commercial.

“The launch is scheduled during the end of next month,” he added.

Earlier, Vikram Sarabhai Space Centre Director K. Sivan had said ISRO’s workhorse Polar rocket PSLV C34 will be used for the launch, which will have satellites from US, Canada, Indonesia and Germany as co-passengers.

Ten in single mission in 2008

The space agency had earlier sent ten satellites into orbit in a single mission in 2008.

Kiran Kumar said that “immediately after that (launch), we have a scatterometer that is going to get launched, then INSAT 3DR we call — it is to provide vertical temperature and humidity profile from geostationary satellite.”

Taking a step in development of reusable rocket which will drastically cut down cost of access to space, ISRO had on Monday successfully flight-tested an indigenous winged Reusable Launch Vehicle, dubbed “swadeshi” space shuttle, from Sriharikota spaceport in Andhra Pradesh.

The first in the series of experimental flights for Reusable Launch Vehicle-technology development is the hypersonic flight experiment (HEX) followed by the landing experiment (LEX), return flight experiment (REX) and scramjet propulsion experiment (SPEX).

Putin says Romania, Poland may now be in Russia's cross-hairs

Russian President Vladimir Putin attends the Russia-ASEAN summit in Sochi, Russia, May 19, 2016.

REUTERS/ALEXANDER ZEMLIANICHENKO

ATHENS | BY DENIS DYOMKIN: Russian President Vladimir Putin on Friday warned Romania and Poland they could find themselves in the sights of Russian rockets because they are hosting elements of a U.S. missile shield that Moscow considers a threat to its security.

Putin issued his starkest warning yet over the missile shield, saying that Moscow had stated repeatedly that it would have to take retaliatory steps but that Washington and its allies had ignored the warnings.

Earlier this month the U.S. military -- which says the shield is needed to protect from Iran, not threaten Russia -- switched on the Romanian part of the shield. Work is going ahead on another part of the shield, in Poland.

"If yesterday in those areas of Romania people simply did not know what it means to be in the cross-hairs, then today we will be forced to carry out certain measures to ensure our security," Putin told a joint news conference in Athens with Greek Prime Minister Alexis Tsipras.

"It will be the same case with Poland," he said.

Putin did not specify what actions Russia would take, but he insisted that it was not making the first step, only responding to moves by Washington. "We won't take any action until we see rockets in areas that neighbor us."

He said the argument that the project was needed to defend against Iran made no sense because an international deal had been reached to curb Tehran's nuclear program. The missiles that will form the shield can easily reach Russian cities, he said.

Special Webpage on two years of NDA Government unveiled by PIB.

    The Press Information Bureau has created a special webpage which is a one-stop information source for the Media on the initiatives and achievements of the NDA Government at the Centre in the last two years. The webpage is linked on the main page under the icon “Transforming India” – “Desh Badal Raha Hai”. The Webpage has information on achievements in the last two years, Ministry-wise as well as Sector-wise. All the important Cabinet decisions in the last two years of the NDA Government have also been provided on the special webpage chronologically. The webpage can also be directly accessed on pib.nic.in/nda2

           

Key feature of the webpage is that it includes info-graphics for use by the Media. These info-graphics are also being tweeted under the hashtag #TransformingIndia. The PIB shall also be tweeting short audio clips and video clips of beneficiaries on the twitter handle. Presentations made by the Ministries during the Press Conferences and interactions with the Media is uploaded on the webpage. Videos of success stories are being uploaded on the webpage besides the Press Conferences of the Ministers. A link has been created to the webpage where the interviews of the Union Ministers can be viewed. Links to the various social media platforms of the PIB on which content is being uploaded on the achievements of the Government can also be viewed by the Media.\

            The Press Information Bureau has collected a number of success stories across the country on various flagship programmes, innovative projects and schemes of the Government which is made available on the webpage. These success stories have been collected from 42 field offices of PIB from across the country.

Nobel Laureate Satyarthi says companies cannot flourish on child slavery

Kailash Satyarthi, 2014 Nobel Peace Prize Laureate, takes part in a panel during the Clinton Global Initiative's annual meeting in New York, September 27, 2015.
REUTERS/LUCAS JACKSON

NEW DELHI (Thomson Reuters Foundation) - Big corporations must do more to clean up their supply chains and ensure that there is no child labour involved in the products which they manufacture and sell, Nobel laureate and child rights activist Kailash Satyarthi said on Friday.

From cosmetics and clothes to shrimp and smartphones, the supply chain for most products is often complex with multiple layers - whether in sourcing the raw materials or creating the final product - making it hard to identify exploitation.

Speaking at a conference on bonded labour in India, Satyarthi said a new anti-trafficking law being drafted by the government would hopefully make it harder for corporations to use child labour in their supply chains.

"Every national or international corporate must adhere to national as well as international laws. Those who are working in India should know that they cannot continue to violate the laws of the land," Satyarthi told journalists.

"We have laws in this country and we will have another clearer law on trafficking soon - so then there would be much more robust law and mechanisms to deal with that."

A draft of a comprehensive new anti-trafficking law is expected to be unveiled in India on Monday which will aim to unify several existing laws, raise penalties for offenders as well as provide victims with rehabilitation and compensation.

The law will also provide for the establishment of a central investigative anti-trafficking agency to coordinate and work between states and special courts to hear such cases.

Nearly 21 million people globally are victims of forced labour, an industry which generates $150 billion a year in illegal profits, says the International Labour Organization.

The British charity Anti-Slavery International on its website documents 122 products made by child labourers across 58 countries ranging from Latin America to Asia.

These children might be employed at the start of the supply chain, forced into mines to extract gold, mica, diamonds and coal or made to toil in farms to produce commodities such as cotton, sugar, tea, coffee and cocoa.

Children are also found working further down the supply chain, such as in the stitching of garments, manufacturing of footwear, weaving of carpets or in the assembly of fireworks.

Satyarthi, whose charity Bachpan Bachao Andolan (Save the Childhood Movement) is credited with rescuing more than 80,000 enslaved children, said big companies are increasingly being held accountable by consumers and the media.

"The power of the consumer and the media is growing everywhere. Companies should not ignore the power of consumers," said Satyarthi, who was awarded the 2014 Nobel Peace Prize jointly with Pakistani schoolgirl Malala Yousafzai.

"If they are exploiting children for their own benefit then that it is illegal and ethical. They cannot continue flourish at the expense of children in India or in any country."

(Reporting by Nita Bhalla,; Editing by Ros Russell; Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers humanitarian news, women's rights, trafficking, corruption and climate change. Visit news.trust.org)

Naseeruddin Shah's oblique attack on Kher stirs controversy

New Delhi, May 28 (PTI) Veteran Bollywood actor Naseeruddin Shah's veiled comments against Anupam Kher on Saturday drew sharp reactions from his former co-star and some members of the film fraternity.

In an apparent dig at Kher, Shah had said, "A person who has never lived in Kashmir has started a fight for Kashmiri Pandits. Suddenly, he has become a displaced person." 

"Shah Saab ki Jai Ho. By that logic NRIs should not think about India at all.:)," Kher had tweeted.

The actor later said that he had spoken to Shah to clarify the matter. Kher said Shah denied making that statement.

When approached for his comments, Shah said, "I don't want to say anything. I don't want to give any reaction. This is misreporting." 

Filmmaker Madhur Bhandarkar wrote on Twitter, "You don't have to be Kashmiri to fight for #KashmiriPandits plight.

Every Indian should condemn the brutality and support their resettlement." 

Replying to Bhandarkar, Pandit said, "Well said Sir. Just like @NaseerudinShah who is from #Meerut but raised his voice for #GujaratRiots.

Russia continues monitoring development of US missile defense system — diplomat

Russia's deputy foreign minister says the development of the system can affect the implementation of the Strategic Arms Reduction Treaty

MOSCOW, May 27. /TASS/. Russia continues monitoring the development of US missile defense system as it can affect the implementation of the Strategic Arms Reduction Treaty (START), Russian Deputy Foreign Minister Sergey Ryabkov said on Friday at the session at the Russian Federation Council.

He noted that US positively assesses the process of implementing START. "We continue closely monitoring the development of US missile defense system, meaning interconnection between strategic defense and strategic offensive arms, as well as effect of this interconnection on the problem of START," Ryabkov added.

US still provided no details for their claims of Russia’s violations of INF Treaty

The United States is still not ready to provide detailed information to Russia about alleged violation of the Intermediate-Range Nuclear Forces Treaty (INF).

"The situation around the Soviet-US INF Treaty from 1987 has considerably deteriorated over the last years. We adhere to the Treaty and fulfill all its provisions. However, in 2013 US started to accuse us, at first in confidential contacts and then publicly, of violating the document. Washington says that in 2008-2011, a ground-based winged missile was test-fired on the Kapustin Yar training range, which is prohibited by the agreement," Ryabkov explained.

"Americans refuse to provide additional details to their claims, citing reluctance to disclose their sources. They only note that the aforementioned winged missile was not an RS-26 intercontinental ballistic missile or R-500 winged missile," he added.

US Administration is working on diplomatic, economic and military measures over "Russian violations," the diplomat said. "We see the tendency to integrating them into Washington’s general efforts to react to ‘Russia’s aggressive behavior’," he concluded.

Violations of INF by the United States

Meanwhile, Russia is concerned with violations of INF by the United States.

He noted the deteriorating situation around the INF Treaty. "The situation has not been settled so far because US refuse to take into account our concerns," Ryabkov said.

At the same time, the diplomat stressed that Moscow "has expressed to Washington very serious concerns over implementation of the agreement."

"Dialogue on implementing this agreement will continue," he added.

A ground-based Aegis system was commissioned in a ceremony in the Romanian town of Deveselu earlier in May. A total of 175 hectares was allocated here to accommodate the ballistic missile defense base comprising a radar, an operations center for antimissile batteries and Mk-1 vertical launch systems (VLS) with SM-3 Standard-3 antimissiles. It is also expected that the similar system will be deployed in Poland in 2018.

Russian President Vladimir Putin said on May 13 at the session on developing military-industrial complex that deployment of US missile defense system in Europe is not protection but nuclear potential buildup. He also expressed concern with United States creating conditions for breaching the Intermediate-Range Nuclear Forces Treaty (INF). "This (the deployment of the missile shield system in Europe) is an additional threat for us," the Russian president said. "After the US unilateral withdrawal from the anti-ballistic missile treaty, which was clearly the first step towards the attempts to disrupt the strategic balance of forces in the world, this will be the second blow against the system of international security, i.e. the creation of conditions for breaching the INF Treaty," the Russian president said. "This causes our additional concerns," he concluded.

Moscow ready for contacts with NATO on future of conventional weapons in Europe

Moscow is ready for contacts with NATO on the regime of conventional weapons control in Europe on the basis of equal and indivisible security and expects West’s response.

"Not NATO, but Russia was the first to note the importance of complete renewal of the set of rules of European security by proposing to make an agreement on European security," Ryabkov said. "The document would have fully taken into account the modern realities on the continent."

"Unfortunately, instead of eliminating division lines in Europe, Western colleagues chose a completely closed security architecture on the basis of never-ending NATO expansion to the detriment of development and strengthening of pan-European institutions and at the expense of security of those countries that do not want to join NATO," the diplomat noted.

In the conditions of the acute phase of the conflict in Ukraine, US and their allies started "to use instruments of control over weapons and confidence-building measures" to pressure Moscow and unleash an informational war against Russia, he went on. "We are refuting this appropriately," he stressed.

"Principles of the new regime of control over conventional weapons in Europe on the basis of equal and indivisible security may and should be considered in the context of restoring an adequate level of trust and normalization of relations between NATO, Western countries and Russia, including full restoration of military cooperation," Ryabkov said.

"Western colleagues know very well about our readiness for such contacts, the ball’s in their court. However, it looks like the Alliance is not ready to make any concrete proposals, taking into account the Ukrainian factor and upcoming presidential election in the United States," he concluded.

Obama mourns dead in Hiroshima, calls for world without nuclear arms

 

Hiroshima, Japan : Barack Obama on Friday became the first incumbent U.S. president to visit Hiroshima, site of the world's first atomic bombing, in a gesture Tokyo and Washington hope will showcase their alliance and reinvigorate efforts to rid the world of nuclear arms.

Even before it occurred, the visit stirred debate, with critics accusing both sides of having selective memories, and pointing to paradoxes in policies relying on nuclear deterrence while calling for an end to atomic weapons.

The two governments hope Obama's visit to Hiroshima, where a U.S. atomic bomb killed thousands instantly on Aug. 6, 1945, and some 140,000 by the year's end, underscores a new level of reconciliation and tighter ties between the former enemies.

"We come to ponder the terrible force unleashed in the not so distant past," Obama said after laying a wreath at a Hiroshima peace memorial.

"We come to mourn the dead, including over 100,000 Japanese men, women and children, thousands of Koreans and a dozen Americans held prisoner. Their souls speak to us."

Before laying the wreath, Obama visited a museum where haunting displays include photographs of badly burned victims, the tattered and stained clothes they wore and statues depicting people with flesh melting from their limbs.

"We have known the agony of war," he wrote in the guest book. "Let us now find the courage, together, to spread peace, and pursue a world without nuclear weapons."

After speaking, Obama shook hands and chatted briefly with two atomic bomb survivors. Obama and Sunao Tsuboi, 91, smiled as they exchanged words; Shigeaki Mori, 79, cried and was embraced by the president.

The city of Nagasaki was hit by a second nuclear bomb on Aug. 9, 1945, and Japan surrendered six days later.

A majority of Americans see the bombings as having been necessary to end the war and save lives, although some historians question that view. Most Japanese believe they were unjustified.

The White House had debated whether the time was right for Obama to break a taboo on presidential visits to Hiroshima, especially in an election year.

Sensex soars 287 pts, brings up best weekly show in 3 months

Mumbai, May 27 (PTI) Market kept its strong run going for the fourth straight session as the Sensex ended about 287 points higher after investors created fresh long positions in the new June derivative series amid earnings traction and continued foreign inflows.

The NSE Nifty in the process reclaimed the 8,100 level.

A higher opening in Europe and a firm trend in Asia acted as a catalyst.

For the week, the Sensex climbed 1,351.70 points, or 5.34 per cent, while NSE Nifty surged 406.95 points, or 5.25 per cent. For both the indices, the jump is their biggest weekly gain since March 4.

The June series derivative contracts was off to a better start, which added to the confidence level. Refinery, healthcare and realty stocks hogged the limelight.

The Sensex opened strong and closed at 26,653.60, a gain of 286.92 points, or 1.09 per cent. The barometer ended last above this level at 26,656.83 on October 30 last year.

The index had gained 1,136.32 points in the previous three sessions.

4TH Batch of 25 declassified files relating to Netaji Subhas Chandra Bose released online on web portal

The Fourth batch of 25 declassified files relating to Netaji Subhas Chandra Bose released online on web portal www.netajipapers.gov.in by Shri N.K. Sinha, Secretary, Ministry of Culture here today. The present batch of 25 files consists of 05 files from the Prime Minister’s Office (PMO), 04 files from Ministry of Home Affairs (MHA), and 16 files from Ministry of External Affairs (MEA)pertaining to the period 1968 to 2008.

It may be recalled that first lot of 100 files relating to Netaji, after their preliminary conservation treatment and digitization, were put in the public domain by the Prime Minister of India, Shri Narendra Modi on 23 January 2016, on the occasion of the 119^th birth anniversary of Netaji.  The second lot of 50 files and third lot of 25 files were released by Dr. Mahesh Sharma, Minister of State for Culture and Tourism (I/C) and Civil Aviation on 29 March, 2016 and 29 April, 2016 respectively.

The present release of 25 files will further meet the continued public demand to access these files and this will also facilitate scholars to carry out further research on the doyen of the freedom movement.  These many files having passed the scrutiny of the specially constituted Committee having experts from the field of Archives which looks into the aspects such as:

1.             To ascertain the physical conditions of the files and carry out necessary repair and conservation wherever needed, through Conservation Unit.

2.             To verify the quality of digitization for enabling the digitized records to upload in the web portal ‘www.netajipapers.gov.in’.

3.             To check if there are any duplication in the files are being released on the internet for use by the researchers and general public.

It may be reiterated that in 1997 the National Archives of India had received 990 declassified files pertaining to the Indian National Army (Azad Hind Fauj) from the Ministry of Defence. Further, in 2012, 271 files/ items pertaining the Khosla Commission, and 759 files/ items of Justice Mukherjee Commission of Inquiry, in total 1030 files/ items were received from the Ministry of Home Affairs. All these files/ items are already open to the public under the Public Records Rules, 

President Shri Pranab Mukherjee in China

The President, Shri Pranab Mukherjee and the President of the People’s Republic of China, Mr. Xi Jinping, at the Welcome Ceremony, at Great Hall of the People, in Beijing, on May 26, 2016.

The President, Shri Pranab Mukherjee meeting the Chairman of National People's Congress, Mr. Zhang Dejiang, at Great Hall of the People, in Beijing, on May 26, 2016.

The President, Shri Pranab Mukherjee and the Premier of the State Council of the People's Republic of China, Mr. Li Keqiang, at the delegation level talks, at Great Hall of the People, in Beijing, on May 26, 2016.

The President, Shri Pranab Mukherjee being introduced to Chinese dignitaries, at the Welcome Ceremony, at Great Hall of the People, in Beijing, on May 26, 2016. The President of the People’s Republic of China, Mr. Xi Jinping is also seen.

President Mukherjee Outlines Eight Steps for a People Centric Partnership Between India and China
The President of India, Shri Pranab Mukherjee delivered a lecture at Peking University today (May 26, 2016) on the topic “India-China Relations: 8 steps to a people-centric partnership”.

Addressing the gathering, the President said at a time of global economic uncertainty, India and China, despite the pressure of having 40 per cent of the world’s human population, have managed to maintain unity and growth. The joint contribution of the two countries to world economy as well as regional and global stability, cannot be underestimated. India and China are poised to join the ranks of leading global powers. It is incumbent on the two countries, as emerging economic powers to remain equally focused on nurturing regional and global prosperity.

The President said both countries are at the threshold of an opportunity to join hands and create a resurgence, a positive energy, an “Asian Century”. This will not be an easy task. Obstacles need to be resolved with fortitude. The two countries must persevere to realise this dream. They must join hands in a durable friendship.

The President said political understanding between India and China is vital for a Closer Developmental Partnership. One of the ways it could be developed is through enhanced political communication. To build a people-centric partnership, there must be mutual trust predicated on mutual respect and a better appreciation of respective political and social systems. This can be achieved by closer contacts at all levels. There is need to enhance and strengthen co-operation to the mutual benefit of both peoples. The President quoted Gandhiji and said "I look forward to the day when a free India and a free China will cooperate together in friendship and brotherhood for their own good and for the good of Asia and the world." He called on the peoples of India and China to tirelessly strive for that objective - despite current challenges.

Underling the steps for people-centric India-China relations, the President said both India and China are ‘young’ societies. Our youth share common aspirations and perceptions. Their annual exchanges have been fruitful but both sides need to synergize their potential. He stated that in a digital age, joint film productions could be useful instruments for creating positive perceptions among our peoples. Greater exchanges between institutions of higher learning, more cultural festivals and joint research and scholarship programmes can help dispel the notion that we need to look to the West and not to each other to make progress in education, science & technology. Travel can also be a very important binding factor between the two countries. Indians would like to have more opportunities to travel to their holy sites in China and, in turn, welcome more Chinese visits to Buddhist pilgrimage centres in India. By pursuing sustainable solutions and sharing experiences, civil societies on both sides can collaborate – duly respecting the parameters in which they are required to operate in our respective countries. We can use multilateral fora including the G-20, BRICS, EAS, AIIB, SCO and the United Nations to enhance public awareness of the desire of both our countries for a shared future shaped by us together. Trade and commerce can also be the most powerful agents in reinforcing our complementarities. He called upon India-China entrepreneurs to jointly innovate to create a new model for business.

Narendra Modi the second most-liked world leader on Facebook

Kolkata, May 26 (PTI) As Narendra Modi completes two years as Prime Minister, he remains the second most-liked world leader on Facebook, the social media giant said today.

The list of most-liked world leaders on Facebook released by the social network shows that Modi is second only to US President Barack Obama and is followed by Turkish President Recep Tayyip Erdogan.

Modi's Facebook post on May 15 with his mother at his official residence at Delhi's Race Course Road remains on top with 1.6 million likes, 1.2 lakh shares and 34,000 comments.

"My mother returns to Gujarat. Spent quality time with her after a long time & that too on her 1st visit to RCR," he had written in the post which was accompanied by three photographs of the mother-son duo.

The Prime Minister's colleagues are also not far behind in making their presence felt in the virtual world.

Out of a total of 50 cabinet ministers along with ministers with independent charge, 47 of them have verified Facebook presence.

During the last one year, the top performing ministers on Facebook include Home Minister Rajnath Singh, HRD minister Smriti Zubin Irani, Finance Minister Arun Jaitley and Food processing minister Harsimrat Kaur Badal.

The Facebook report says Modi makes an average of 2.8 posts per day.

His other top posts include the one where he changed his profile picture in support of the efforts towards a Digital India.

The prime minister paying homage to former President Dr A P J Abdul Kalam is his third most popular post, according to Facebook.

Among the top three government initiatives popular on the social media site include 'Make In India', 'Digital India' and 'Skill India'
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SC allows marine Salvatore Girone to go to Italy, imposes fresh conditions

New Delhi, May 26 (PTI) The Supreme Court today relaxed the bail conditions of Salvatore Girone, one of the two Italian marines accused of killing two fishermen off Kerala coast in 2012, and allowed him to go to his country till an International Arbitral Tribunal decides the jurisdictional issue between India and Italy.

The other marine Massimiliano Latorre is already in Italy on health grounds and his stay there was recently extended by the apex court till September 30 this year.

A vacation bench of Justices P C Pant and D Y Chandrachud sought a fresh undertaking from Italian Ambassador here stating that if the International Arbitral Tribunal (IAT) decides jurisdictional issue in India's favour then he will be responsible in bringing back the marine within one month.

The apex court imposed four conditions on the marine which include that he has to report to police station in Italy on first Wednesday of every month and the Italian Embassy has to inform the Indian Embassy in Rome about the same.

It also said the marine will not tamper with any evidence nor influence any witness in the case.

The third condition imposed was that Girone will give an undertaking that he will remain under the jurisdiction of Supreme Court.

Lastly, if found violating any of the conditions imposed, his bail will be cancelled, the apex court said.

During the hearing, Additional Solicitor General (ASG) P S Narasimha said that Centre has no objection to the application moved by Girone if he complies with the conditions imposed by the apex court.

"We support the application on humanitarian grounds subject to his compliance with the conditions imposed by the court," the ASG said.

Girone, who presently is in the custody of the apex court and residing in Italian embassy here, had filed the application through lawyer Jagjit Singh Chhabra, also seeking a direction that Ministry of Home Affairs and the Foreigners Regional Registration Office be asked to provide him with the "necessary residential permit and exit visa".

The marines, who were on board ship 'Enrica Lexie', are accused of killing two Indian fishermen off the Kerala coast on February 15, 2012.

National Capital Goods Policy

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has given its approval for National Capital Goods Policy. This is first ever policy for Capital Goods sector with a clear objective of increasing production of capital goods from Rs.2,30,000 crore in 2014-15 to Rs.7,50,000 crore in 2025 and raising direct and indirect employment from the current 8.4 million to 30 million. 

The policy envisages increasing exports from the current 27 percent to 40 percent of production. It will increase the share of domestic production in India’s demand from 60 percent to 80 percent thus making India a net exporter of capital goods. The policy also aims to facilitate improvement in technology depth across sub-sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of MSMEs. 

The Policy will help in realising the vision of ‘Building India as the World class hub for Capital Goods’. It will also play a pivotal role in overall manufacturing as the pillar of strength to the vision of ‘Make in India’. 

The objectives of the policy will be met by the Department of Heavy Industry in a time bound manner through obtaining approval for schemes as per the roadmap of policy interventions. 

Background: 

The idea of a ‘National Capital Goods Policy’ was first presented by the Deptt. of Heavy Industry to the Prime Minister in the ‘Make in India’ workshop held in December, 2014. The policy has been finalized after extensive stakeholder consultations with industry, academia, different ministries etc. The key recommendations and elements of the policy have been formulated to support and boost development of this crucial sector. The aim of the policy is create game changing strategies for the capital goods sector. Some of the key issues addressed include availability of finance, raw material, innovation and technology, productivity, quality and environment friendly manufacturing practices, promoting exports and creating domestic demand.