Monday 23 January 2012
Friday 20 January 2012
SOPA & PIPA
Stop Online Piracy Act (SOPA) a US bill designed to block access to sites containing unauthorized copyright material.
- Content owners and US government will be given powers to 'shut down' sites associated with piracy.
- Advertisers payment processors and Internet Service Providers would be forbidden from doing business with infringes based on oversees.
- SOPA also requires search engines to remove 'foreign infringing sites' from their results. (absent in PIPA)
Protect Intellectual Property Act (PIPA) gives US government and copyright owners right to curb access to 'rouge websites' dedicated to infringing or counterfeit goods.
- IP right holders can get directives requiring payment providers, advertisers and search engines to stop doing business with infringing sites.
- The bill is criticized that it may not be enough to protect against false acquisitions, Websites and Media companies worry they could be targeted for unknowingly hosting pirated material.
- Wikipedia, Google and other websites hosted a black day on 18th January 2012 against the Senate bills.
- Content owners and US government will be given powers to 'shut down' sites associated with piracy.
- Advertisers payment processors and Internet Service Providers would be forbidden from doing business with infringes based on oversees.
- SOPA also requires search engines to remove 'foreign infringing sites' from their results. (absent in PIPA)
Protect Intellectual Property Act (PIPA) gives US government and copyright owners right to curb access to 'rouge websites' dedicated to infringing or counterfeit goods.
- IP right holders can get directives requiring payment providers, advertisers and search engines to stop doing business with infringing sites.
- The bill is criticized that it may not be enough to protect against false acquisitions, Websites and Media companies worry they could be targeted for unknowingly hosting pirated material.
- Wikipedia, Google and other websites hosted a black day on 18th January 2012 against the Senate bills.
Tuesday 17 January 2012
Community of Latin American and Carribian States
Comunidad De Estados Latino Americanos Y Carebenos (CELAC) or Community of Latin American and Carribbean States is a new regional economic grouping of 33 sovereign nations.
- United States and Canada are not invited to join the group.Its 1st summit was held in Caracas, Mexico.
- The aim of CELAC is deep Latin American integration and replace Organisation of American States (OAS).
- It is the brainchild of Venezuela's President Hugo Chavez & former Brazilian President Lula da Silva. More than 600 million people are within the borders of CELAC and has 60% of worlds water resources.
- CELAC has genuine potential to speed up economic and political integration of the region on basis of sustainable development, justice and equality.
- Caracas Declaration was adopted ' for a concerted voice for Latin America and the Caribbean' on all important issues.
- Caracas Action Plan envisages closer interaction among member states in the fields of energy, eradication of hunger and illiteracy, overcoming environmental and humanitarian crisis, priority will be given to overcome economic challenges to present financial crisis.
- CELAC will develop mechanisms for coordination of 'regional mechanisms like Mercosur (Common market for south) and UNASUR (Union of South American Nations).
- United States and Canada are not invited to join the group.Its 1st summit was held in Caracas, Mexico.
- The aim of CELAC is deep Latin American integration and replace Organisation of American States (OAS).
- It is the brainchild of Venezuela's President Hugo Chavez & former Brazilian President Lula da Silva. More than 600 million people are within the borders of CELAC and has 60% of worlds water resources.
- CELAC has genuine potential to speed up economic and political integration of the region on basis of sustainable development, justice and equality.
- Caracas Declaration was adopted ' for a concerted voice for Latin America and the Caribbean' on all important issues.
- Caracas Action Plan envisages closer interaction among member states in the fields of energy, eradication of hunger and illiteracy, overcoming environmental and humanitarian crisis, priority will be given to overcome economic challenges to present financial crisis.
Sunday 15 January 2012
WPI and CPI
Wholesale Price Index Consumer Price Index
1) WPI is the price of ' representative basket' 1) CPI measures changes in a price-level of
of wholesale goods. consumer goods and services purchased by
a household over a period.
2) WPI focuses on price of goods traded between 2) CPI represents changes overtime in prices
corporations. paid by urban consumers for market basket
of consumer goods and services.
3)The purpose of WPI is to monitor price movements 3) CPI is used to index real valve of wages,
that reflect supply and demand in industry, manufacturing salaries and pensions for regulating prices
and construction. and for deflating monetary magnitudes to
show changes in real values.
4)WPI is calculated based on Wholesale prices of 4) CPI is computed for different categories and
few important commodities. sub-categories of commodities into
sub-index later combined.
5)WPI {esp. in India} is released every week. 5) CPI is released every monthly or quarterly.
*WPI base year as been changed in India from 1993-94 to 2004-05 and items calculating it increased from 435 to 676 resp.
1) WPI is the price of ' representative basket' 1) CPI measures changes in a price-level of
of wholesale goods. consumer goods and services purchased by
a household over a period.
2) WPI focuses on price of goods traded between 2) CPI represents changes overtime in prices
corporations. paid by urban consumers for market basket
of consumer goods and services.
3)The purpose of WPI is to monitor price movements 3) CPI is used to index real valve of wages,
that reflect supply and demand in industry, manufacturing salaries and pensions for regulating prices
and construction. and for deflating monetary magnitudes to
show changes in real values.
4)WPI is calculated based on Wholesale prices of 4) CPI is computed for different categories and
few important commodities. sub-categories of commodities into
sub-index later combined.
5)WPI {esp. in India} is released every week. 5) CPI is released every monthly or quarterly.
*WPI base year as been changed in India from 1993-94 to 2004-05 and items calculating it increased from 435 to 676 resp.
Minimum Support Price
Minimum Support Price (MSP) is the price at which government purchases the crop from farmer, whatever be the price of the crop. It is announced every year by Commission for Agriculture Cost and Price (CACP). Currently MSP is given to 27 crops at the beginning of every season viz. Rabi & Kharif.
- MSP serves as floor price and guaranteed income to the farmers.
-Government decides MSP of various Agricultural Commodities by a) Recommendations of CACP, b)views of state government c) views of ministries and other factors.
-Every year the Government tries to raise MSP as per demands and circumstances.
- Jute & Sugarcane have been assigned statutory status for MSP i.e.it is illegal to purchase both crops below their MSPs.
- Procurement price is the price to procure grain from producers, it is generally lower than open market price and higher than MSP.
- Similarly, the department of agriculture and cooperation implements Price Support Scheme for pulses and oilseeds via a nodal agency called National Agricultural Marketing Federation (NAFED).
- MSP serves as floor price and guaranteed income to the farmers.
-Government decides MSP of various Agricultural Commodities by a) Recommendations of CACP, b)views of state government c) views of ministries and other factors.
-Every year the Government tries to raise MSP as per demands and circumstances.
- Jute & Sugarcane have been assigned statutory status for MSP i.e.it is illegal to purchase both crops below their MSPs.
- Procurement price is the price to procure grain from producers, it is generally lower than open market price and higher than MSP.
- Similarly, the department of agriculture and cooperation implements Price Support Scheme for pulses and oilseeds via a nodal agency called National Agricultural Marketing Federation (NAFED).
Friday 13 January 2012
Saranda Action Plan
Saranda Action Plan is prepared by Rural Development Ministry and will be first implemented in Saranda District, Jharkhand.
- Government will take assistance from Army to deal with Naxalism. 24 CRPF camps will be setup in and around region.
- Saranda Development Authority will be setup by state government under a dynamic IAS officer to whom all departments working in the region will report. It will work in cooperation with central forces
.
- Representatives of State and Central forces are required to meet, monitor and co-ordinate their activities achieving various goals in outlined region.
- Also, 'Solar Lanterns and Bicycles' are distributed in naxal affected area and 'prefab houses' will be constructed for BPL families under Indira Awas Yojana.
- Saranda District is inhabited by HO tribal community and is known to posses 25% of iron ore deposits in India.
- Government will take assistance from Army to deal with Naxalism. 24 CRPF camps will be setup in and around region.
- Saranda Development Authority will be setup by state government under a dynamic IAS officer to whom all departments working in the region will report. It will work in cooperation with central forces
.
- Representatives of State and Central forces are required to meet, monitor and co-ordinate their activities achieving various goals in outlined region.
- Also, 'Solar Lanterns and Bicycles' are distributed in naxal affected area and 'prefab houses' will be constructed for BPL families under Indira Awas Yojana.
- Saranda District is inhabited by HO tribal community and is known to posses 25% of iron ore deposits in India.
Indo - ASEAN Summit
9th Indo-ASEAN Summit was held in Bali, Indonesia.
- 'Greater Physical Connectivity' was set as one of strategic objectives.
- India-Myanmar-Thailand highway extending to Laos and Cambodia, and a new highway linking to Vietnam were proposed by India. Also, Mekong - India corridor linking corridors of peninsula and North-Eastern regions of India to East Asian region was proposed.
- Sudarshini a trading ship which will sail on an expedition to ASEAN countries along the 'monsoon trade winds' has also been proposed by India.
- 'Greater Physical Connectivity' was set as one of strategic objectives.
- India-Myanmar-Thailand highway extending to Laos and Cambodia, and a new highway linking to Vietnam were proposed by India. Also, Mekong - India corridor linking corridors of peninsula and North-Eastern regions of India to East Asian region was proposed.
- Sudarshini a trading ship which will sail on an expedition to ASEAN countries along the 'monsoon trade winds' has also been proposed by India.
YOUYI - IV
YOUYI 4 is the 'joint military exercise' conducted by Pakistan and China.
- YOUYI 4 is basically aimed at mutual exchange of experience and information through a comprehensive training program in real time. It was conducted near Jhelum.
- YOUYI 4 is basically aimed at mutual exchange of experience and information through a comprehensive training program in real time. It was conducted near Jhelum.
Eurasian Union
Russia, Belarus and Kazakhstan a deal to set up 'joint body' to oversee and regulate the economy and trade in three nations, paving the way for 'economic union' of these former Soviet Nations.The proposed Eurasian Union will also have a common government.
- Eurasian Commission will officially come up in Jan. 2012. It will control the economic, trade and currency policies from authorities of 3 countries.The commission will also assist the establishment of Eurasian Economic Union for 3 nations by 2015.It currently headed by Viktor Khristenlo Russian Minister for Industries.
-The Russian, Belarus and Kazakh authorities are handling over 170 various powers to the Commission.It will replace Customs Union Commission on 1st July 2012.
- The Eurasian Commission will consist of 'a council and a panel'. Council comprising of deputy Prime Ministers from each of three Countries, and Panel consisting of 3 representative of each countries.
- Eurasian Commission will officially come up in Jan. 2012. It will control the economic, trade and currency policies from authorities of 3 countries.The commission will also assist the establishment of Eurasian Economic Union for 3 nations by 2015.It currently headed by Viktor Khristenlo Russian Minister for Industries.
-The Russian, Belarus and Kazakh authorities are handling over 170 various powers to the Commission.It will replace Customs Union Commission on 1st July 2012.
- The Eurasian Commission will consist of 'a council and a panel'. Council comprising of deputy Prime Ministers from each of three Countries, and Panel consisting of 3 representative of each countries.
Wednesday 11 January 2012
Addu SAARC Summit
17th SAARC (South Asian Association for Regional Co-operation) Summit was held at Addu City in Maldives.
The summit concluded with the adoption of 20point declaration called 'Addu declaration'.
1) Implementation of SAFTA - Addu declaration called for intensified efforts to fully implement SAFTA (South Asian Free Trade Agreement) for reduction in sensitive list and resolution in non-tariff barriers.
2) Implementation of *Thimpu statement on Climate Change.
3) Energy Cooperation - to direct inter-governmental Framework Agreement for Energy Cooperation and study of 'regional power exchange concept' as also work related to SAARC market for electricity.
4) Renewable Energy Investments must get appropriate percent of National Income.
5) South Asian Economic Union - to direct South Asia Forum to continue working toward vision statement of such goal.
- The theme 'Building Bridges' indicates that region has to become a dominant regional grouping to carter needs of the people.
- Summit also finalized a regional railways agreement, motor vehicle agreement and issues of Indian Ocean Cargo and Passenger ferry agreement.
The summit concluded with the adoption of 20point declaration called 'Addu declaration'.
1) Implementation of SAFTA - Addu declaration called for intensified efforts to fully implement SAFTA (South Asian Free Trade Agreement) for reduction in sensitive list and resolution in non-tariff barriers.
2) Implementation of *Thimpu statement on Climate Change.
3) Energy Cooperation - to direct inter-governmental Framework Agreement for Energy Cooperation and study of 'regional power exchange concept' as also work related to SAARC market for electricity.
4) Renewable Energy Investments must get appropriate percent of National Income.
5) South Asian Economic Union - to direct South Asia Forum to continue working toward vision statement of such goal.
- The theme 'Building Bridges' indicates that region has to become a dominant regional grouping to carter needs of the people.
- Summit also finalized a regional railways agreement, motor vehicle agreement and issues of Indian Ocean Cargo and Passenger ferry agreement.
NASA's Twin GRAIL Space Probe
Gravity Recovery and Interior Laboratory (GRAIL) is American Lunar science mission in NASA's 'Discovery' program which uses high quality 'gravitational field mapping' of Moon to determine its interior structure.
-During GRAIL's mission two spacecrafts will transmit radio signals precisely defining distance between them. As they fly over areas of greater and lesser gravity caused by mountains, craters and masses beneath the lunar surface the distance between them will change slightly.
- Scientist will translate this information into high resolution map of moons gravitational field. this data will help scientists to understand what goes below lunar surface. This information will increase our knowledge about Earth and other inner planets in Solar System developed into such diverse systems.
- Grail 'a' & 'b' are renamed by school students of US as 'Ebb' & 'Flow' respectively.
- GrailMoonKAM (Moon Knowledge Acquired by Middle school students) is a camera installed in each spacecraft for education of student.
-During GRAIL's mission two spacecrafts will transmit radio signals precisely defining distance between them. As they fly over areas of greater and lesser gravity caused by mountains, craters and masses beneath the lunar surface the distance between them will change slightly.
- Scientist will translate this information into high resolution map of moons gravitational field. this data will help scientists to understand what goes below lunar surface. This information will increase our knowledge about Earth and other inner planets in Solar System developed into such diverse systems.
- Grail 'a' & 'b' are renamed by school students of US as 'Ebb' & 'Flow' respectively.
- GrailMoonKAM (Moon Knowledge Acquired by Middle school students) is a camera installed in each spacecraft for education of student.
Generic Top Level Domain
Generic Top Level Domain (gTLD) are concluding part of web addresses that follows 'dot'
eg: '.com' or '.eu'
- Internet Corporation for Names and Numbers (ICANN) is the global body that oversees the operation and administration of internet domain name systems set to accept application from Jan 12 to March 29 for new gTLDs.
- Any established public or private organizations anywhere in the World can submit applications to create or operate new gTLD registry provided it has operational, technical and financial capacity.
- There are 2 types of TLDs in operation now 1) gTLDs - '.com' or '.edu' 2) Country code TLDs like '.uk' or '.in'
-ICANN has also tried to setup a process of raising objections and resolving disputes in case of Trademarks or Geographical names or other words that denote particular Profession or Community.
- * Internet Corporation for Names and Numbers (ICANN) is a non-profit corporation, responsible for co-ordination of global internet systems of unique identifiers and insuring its stable and secure operation.
Headquaters - Marina del Ray, California, U.S.
eg: '.com' or '.eu'
- Internet Corporation for Names and Numbers (ICANN) is the global body that oversees the operation and administration of internet domain name systems set to accept application from Jan 12 to March 29 for new gTLDs.
- Any established public or private organizations anywhere in the World can submit applications to create or operate new gTLD registry provided it has operational, technical and financial capacity.
- There are 2 types of TLDs in operation now 1) gTLDs - '.com' or '.edu' 2) Country code TLDs like '.uk' or '.in'
-ICANN has also tried to setup a process of raising objections and resolving disputes in case of Trademarks or Geographical names or other words that denote particular Profession or Community.
- * Internet Corporation for Names and Numbers (ICANN) is a non-profit corporation, responsible for co-ordination of global internet systems of unique identifiers and insuring its stable and secure operation.
Headquaters - Marina del Ray, California, U.S.
Tuesday 10 January 2012
List of Governor-Generals and Viceroys of India
1. Clive
2. Warren Hastings (1772 - 1785)
3. Sir John Macpherson {acting}
4. Charles Cornwallis (1786 -1793)
5. Sir John Shore (1786 - 1793)
6. A. Clarke {acting}
7. Richard Weslley (1798 - 1805)
8. George Barlow (1805 -1807)
9. Lord Minto (1807 - 1813)
10. F.R. Hastings (1813 - 1823)
11. W.P. Amherst (1823 - 1828)
12. William Bentinck (1828 - 1835) gov - gen of India from 1833
13. George E. Auckland (1836 -1842)
14. Edward Ellenborough (1842 - 1844)
16. Henry Hardinge (1844 - 1848)
17. Lord Dalhousie (1848 - 56)
18. Viscount Canning (1856 - 1862) viceroy from 1858
19. James Bruce (1862 -1863)
20. John Lawrence (1864 -1869)
21. R.S. Bourke (1869 - 1872)
22. T.G. Baring (1872 -1876)
23. Lord Lytton (1876 - 1880)
24. Lord Ripon (1880 - 1884)
25. Earl of Dufferin (1884 - 1888)
26. Marquess of Lansdowne (1888 - 1894)
27. Earl of Elgin (1894 - 1899)
28. Lord Curzon (1899 - 1905)
29. Earl of Minto (1905 - 1910)
30. Lord Hardinge (1910 -1916)
31. Lord Chelmsford (1916 - 1921)
32. Earl of Reading (1921 -1926)
33. Lord Erwin (1926 - 1931)
34. Earl of Willingdon (1931- 1936)
35. Victor Hope (1936 - 1943)
36. Viscount Wavell (1943 - 1947)
37. Louis Mountbatten (1947 -1948)
38. C. Rajgopalchari (1948 - 1950)
*also M.A.Jinnah, Khawaja Nazimuddin, Malik G. Mohammad, Iskander Mirza were viceroys of Pakistan
2. Warren Hastings (1772 - 1785)
3. Sir John Macpherson {acting}
4. Charles Cornwallis (1786 -1793)
5. Sir John Shore (1786 - 1793)
6. A. Clarke {acting}
7. Richard Weslley (1798 - 1805)
8. George Barlow (1805 -1807)
9. Lord Minto (1807 - 1813)
10. F.R. Hastings (1813 - 1823)
11. W.P. Amherst (1823 - 1828)
12. William Bentinck (1828 - 1835) gov - gen of India from 1833
13. George E. Auckland (1836 -1842)
14. Edward Ellenborough (1842 - 1844)
16. Henry Hardinge (1844 - 1848)
17. Lord Dalhousie (1848 - 56)
18. Viscount Canning (1856 - 1862) viceroy from 1858
19. James Bruce (1862 -1863)
20. John Lawrence (1864 -1869)
21. R.S. Bourke (1869 - 1872)
22. T.G. Baring (1872 -1876)
23. Lord Lytton (1876 - 1880)
24. Lord Ripon (1880 - 1884)
25. Earl of Dufferin (1884 - 1888)
26. Marquess of Lansdowne (1888 - 1894)
27. Earl of Elgin (1894 - 1899)
28. Lord Curzon (1899 - 1905)
29. Earl of Minto (1905 - 1910)
30. Lord Hardinge (1910 -1916)
31. Lord Chelmsford (1916 - 1921)
32. Earl of Reading (1921 -1926)
33. Lord Erwin (1926 - 1931)
34. Earl of Willingdon (1931- 1936)
35. Victor Hope (1936 - 1943)
36. Viscount Wavell (1943 - 1947)
37. Louis Mountbatten (1947 -1948)
38. C. Rajgopalchari (1948 - 1950)
*also M.A.Jinnah, Khawaja Nazimuddin, Malik G. Mohammad, Iskander Mirza were viceroys of Pakistan
Sunday 8 January 2012
Velayat 90
Velayat 90 (or Supremacy 90) is the 10 day 'naval exercise' done by Islamic Republic of Iran in Sea of Oman near 'Strait of Hormuz'.
- The maneuvers include firing of 'cruise missiles' that could be used against commercial or battle ships.
- The exercise comes in the wake of new sanctions by United States on Iran, that would bar any financial institution that conducts business with Iran's Central Bank from doing business with U.S financial institutions.
- In counter, Iran has stated that it might block Oil Shipments off the Strait of Hormuz which accounts for 20% of worlds oil supply.
- Shohaday -e- Vahadat is another military exercise done by Iran near the 'Strait of Hormuz' for countering infiltration of vital points.
- Austere Challenge 12 is the joint military exercise done by US & Israel.
- The maneuvers include firing of 'cruise missiles' that could be used against commercial or battle ships.
- The exercise comes in the wake of new sanctions by United States on Iran, that would bar any financial institution that conducts business with Iran's Central Bank from doing business with U.S financial institutions.
- Shohaday -e- Vahadat is another military exercise done by Iran near the 'Strait of Hormuz' for countering infiltration of vital points.
- Austere Challenge 12 is the joint military exercise done by US & Israel.
COMMISSIONS & COMMITTEES
1.Abhijit Sen Committee - Member of Planning Commission ; this committee was set up when government was dispensed with Tendulkar Committee cap on BPL beneficiaries ; the committee is expected to determine the cap on beneficiaries under all welfare schemes.
2. Jammu & Kashmir interlocutors report - The interlocutors appointed by Central Government consisted of journalist Dilip Padgaonkar, former Information Commissioners M.M. Ansari and Radha Kumar; recommendations were a) Permanent Political Settlement, b) Increasing Autonomy of State government, c) Revoking Armed Forces Special Powers Act, d)Withdrawing of Public Safety Act, e) Reducing visible presence of Army in the state.
2. Jammu & Kashmir interlocutors report - The interlocutors appointed by Central Government consisted of journalist Dilip Padgaonkar, former Information Commissioners M.M. Ansari and Radha Kumar; recommendations were a) Permanent Political Settlement, b) Increasing Autonomy of State government, c) Revoking Armed Forces Special Powers Act, d)Withdrawing of Public Safety Act, e) Reducing visible presence of Army in the state.
Indian Ocean Rim Association for Regional Cooperation
Indian Ocean Rim Association for Regional Cooperation (IOR-ARC) is an association of countries which border Indian Ocean.
Est. - 1997 Secretariat - Mauritius
- The Association disseminates information on 'trade and investment' regimes, with a view of helping regions business community better understand the impediments to trade and investment within the region, so their will be growth in intra-region trade.
- IOR-ARC builds cooperation through consensus, there are no laws or binding contracts.
Est. - 1997 Secretariat - Mauritius
- The Association disseminates information on 'trade and investment' regimes, with a view of helping regions business community better understand the impediments to trade and investment within the region, so their will be growth in intra-region trade.
International Court of Justice
International Court of Justice (ICJ) is principal judicial organ of United Nations (UN). One of six.
Established - 1945 Seat of Court - Hague (Netherlands)
- The Courts role is to settle in accordance with 'International Law', legal disputes submitted to it by states.
- It also gives 'Advisory Opinions' on legal questions referred to it by authorized United Nations organs and specialized agencies.
- Court is composed of 15 judges who were elected for a term of 9 years by United Nations General Assembly and Security Council.
- Only States which are members of UN and other states which have became parties to the statute of the court of which have accepted its jurisdiction under certain conditions.
- *It is the duty of all UN member countries to comply with the decisions of ICJ involving them. If parties do not comply the issue may be taken before Security Council to enforce them.
Established - 1945 Seat of Court - Hague (Netherlands)
- The Courts role is to settle in accordance with 'International Law', legal disputes submitted to it by states.
- It also gives 'Advisory Opinions' on legal questions referred to it by authorized United Nations organs and specialized agencies.
- Court is composed of 15 judges who were elected for a term of 9 years by United Nations General Assembly and Security Council.
- Only States which are members of UN and other states which have became parties to the statute of the court of which have accepted its jurisdiction under certain conditions.
- *It is the duty of all UN member countries to comply with the decisions of ICJ involving them. If parties do not comply the issue may be taken before Security Council to enforce them.
Saturday 7 January 2012
European Financial Stability Facility
European Financial Stability Facility (EFSF) is an organisation set up in 2010 to help solve Europe's Sovereign Debt crisis.
Headquarters: Luxembourg CEO: Klaus Regling
- EFSF works like a bank to provide loans to eurozone members who have economic difficulties.
- EFSF receives administrative help from European Investment Bank
- EFSF issues bonds or other debt instruments to provide loans to countries that need them. These loans are 'guaranteed' by other states in eurozone.
- In certain circumstances, EFSF also allows a country to use the loans to support one of its bank deemed to be in financial trouble.
- EFSF can also intervene in debt primary and secondary markets. Secondary market intervention is only after European Central Bank recognition of exceptional financial circumstances.
Headquarters: Luxembourg CEO: Klaus Regling
- EFSF works like a bank to provide loans to eurozone members who have economic difficulties.
- EFSF receives administrative help from European Investment Bank
- EFSF issues bonds or other debt instruments to provide loans to countries that need them. These loans are 'guaranteed' by other states in eurozone.
- In certain circumstances, EFSF also allows a country to use the loans to support one of its bank deemed to be in financial trouble.
- EFSF can also intervene in debt primary and secondary markets. Secondary market intervention is only after European Central Bank recognition of exceptional financial circumstances.
Famous Personalities (2m)
1.Venkatrman Ramakrishnan - Indo-American scientist ; 2009 Nobel prize winner for Chemistry for studies of structure and function of Ribosome ; Padma Vibhushan awarded in 2010 ; recently in news as given 'Knighthood' in England for 'molecular biology' ; currently working in MRC Laboratory at Cambridge.
2. Daniel Shechtman- Israeli Scientist ; 2011 Nobel prize winner for chemistry for discovery of 'Quasi-periodic crystals' (or quasi crystals) ; discovered same type of structure in Aluminium and Manganese ; quasicrystals hve modest impact on everyday life.
3.Ela Bhatt - Founder of 'Self Employed Women's Association' (SEWA) in India ; former MP and Member of Indian Planning Commission ; recently in news for wining 'Indira Gandhi Prize for Peace, Disarmament and Development 2011' for Empowering Women in India and abroad.
4. Captain Mohanta Panging - Indian Air Force officer, initially part of delegation to China for peace talks;denied visa by China as he is from Arunachal Pradesh.
5. D.Bala Venkatesh Verma a senior Indian Diplomat; given 1st S.K.Singh Award; key member who saw Indo-US nuclear deal through; awarded for his extraordinary efforts to streanthen Indias position in global nuclear order.
2. Daniel Shechtman- Israeli Scientist ; 2011 Nobel prize winner for chemistry for discovery of 'Quasi-periodic crystals' (or quasi crystals) ; discovered same type of structure in Aluminium and Manganese ; quasicrystals hve modest impact on everyday life.
3.Ela Bhatt - Founder of 'Self Employed Women's Association' (SEWA) in India ; former MP and Member of Indian Planning Commission ; recently in news for wining 'Indira Gandhi Prize for Peace, Disarmament and Development 2011' for Empowering Women in India and abroad.
4. Captain Mohanta Panging - Indian Air Force officer, initially part of delegation to China for peace talks;denied visa by China as he is from Arunachal Pradesh.
5. D.Bala Venkatesh Verma a senior Indian Diplomat; given 1st S.K.Singh Award; key member who saw Indo-US nuclear deal through; awarded for his extraordinary efforts to streanthen Indias position in global nuclear order.
Qualified Foreign Investors
Qualified Foreign Investors (QFI's) are individuals, groups or associations residing in a foreign country {not NRI's} that are compliant with 'Financial Action Task Force' and which is signatory to the 'International Organisation of Securities Commission Multilateral MoU'.
- The Union Government has allowed QFIs to 'directly invest' in Indian Equity market to attract more foreign capital and reduce market volatility.
- Reserve Bank of India has granted QFIs permission to invest in 'Portfolio Investment Scheme' similar to Foreign Institutional Investors (FII). QFIs will be allowed to invest through SEBI registered 'Qualified Depository Participants (DP)'.
- Earlier QFIs were allowed to invest in Indian Mutual Funds.
-This move came from Gov. in wake of depreciation of Rupee to Dollar ratio, it will help Indian Capital Market Consolidate in forex reserves.
- This move is being criticized as it will open floodgates of Foreign Capital in India.
- The Union Government has allowed QFIs to 'directly invest' in Indian Equity market to attract more foreign capital and reduce market volatility.
- Reserve Bank of India has granted QFIs permission to invest in 'Portfolio Investment Scheme' similar to Foreign Institutional Investors (FII). QFIs will be allowed to invest through SEBI registered 'Qualified Depository Participants (DP)'.
- Earlier QFIs were allowed to invest in Indian Mutual Funds.
-This move came from Gov. in wake of depreciation of Rupee to Dollar ratio, it will help Indian Capital Market Consolidate in forex reserves.
- This move is being criticized as it will open floodgates of Foreign Capital in India.
Durban Summit of UNFCCC
The 2011 United Nations Climate Change Conference was held in Durban, South Africa. It was referred as 17th session of Conference Of Parties (COP17), and 7th session of COP serving as meeting of Parties to the Kyoto Protocol (CMP 7).
DURBAN PLATFORM
- Durban Platform for Enhanced Action (DPEA), was the key component of the decision taken as it launched for the new rounds of negotiations aimed at new climate control agreement under UNFCCC involving 'all' countries.
- An 'Ad-Hoc Working Group' on Durban Platform For Enhanced Action which will begin to work from 2012 is formed, the body has been mandated to formalise the regime till 2015 so that it can be adopted at COP21 and can be brought into effect in 2020
DURBAN PACKAGE
- 2nd commitment period for for emissions reduction by Annex1 countries under Kyoto Protocol.
- Decision on the Ad-Hoc Working Group on Long-term Cooprative Action.
- Decision on Green Climate Fund.
*EU offered a 30% reduction to its 2020 emissions as per 1990 levels conditioned that
a). other developed countries should commit themselves to comparable emissions reductions
b)developing countries contributing acc. to their resposibilities and respective capabilities
- Also, EU is willing to accept 2nd commitment period only if a new ' legally binding agreement ' aimed at mitigation targets for all countries aimed at 'mitigation targets' for all countries was put in place by 020 that would bring all Annex1 countries and non-Annex1 countries under it.
INDIA'S STANCE
1. India and China pressed for an option of 'Legal Outcome' - an answer to EU and AOSIS (Alliance Of Small Island States) option of 'Legally Binding Regime for All', for which both countries reject.
2.Indian side (Rep. by Jayanthi Natrajan), argued that 'equity' and 'Common but Differentiated Responsibilities (CBDR)' were central to the debate of Climate Change and should not be put aside by Durban Process.
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