GK Current Affairs Supplement

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LST COURSE 2009 2010

CURRENT A..AIRS

COMBINED SUPPLEMENT

PART I & II


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Current Affairs SupplementLST 2010Replication or other unauthorised use of this material is prohibitedby the copyright laws of India

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Dear Future Lawyers,

In our endeavor to help in your GK preparation, here is Current Affairs Supplement Part II. This supplementcovers the important pieces of information that were part of November - 2009 to April- 2010 period. The datacompiled below is up to 10th April 2010. The list of personalities & places given below is an updated andenriched as compared to the list given in Part I. The supplement focuses on Personalities, Places,Awards and Events that are important from the examination point of view. Hope this supplement will servethe intended purpose.

1. PERSONALITIES

A. Heads of Important International Organizations

1. United Nations Secretary - General: Ban-ki-Moon

2. President of the International Court of Justice: Hisashi Owada

3. Director - General of International Labor Organization (ILO): Juan Somavia

4. Director - General of Food & Agriculture Organization (FAO): Jacques Diouf

5. Director - General of World Health Organization (WHO): Dr. Margaret Chan

6. Head of United Nations Children's Fund (UNICEF): Ann Veneman

7. United Nations High Commissioner for Refugees (UNHCR): Antonio Guterres

8. Director - General of United Nations Educational Scientific and Cultural Organization (UNESCO):IrinaBokova

9. President of the World Bank (WB): Robert B. Zoellick

10. Managing Director the International Monetary Fund (IMF): Dominique Strauss Kahn

11. Director-General of World Trade Organization (WTO): Pascal Lamy

12. Head International Atomic Energy Agency (IAEA): Yukiya Amano

13. Secretary - General of the Non Aligned Movement (NAM): Hosni Mubarak

14. Secretary - General of South Asian Association for Regional Co-operation (SAARC): Sheel KantSharma

15. Chairman of South Asian Association for Regional Co-operation (SAARC): Mahinda Rajapaksa

16. Head of the Commonwealth of Nations: Queen Elizabeth-II

17. Secretary General of the Commonwealth of Nations: Kamalesh Sharma

18. Secretary General of Amnesty International: - Irene Zubaida Khan /From June 2010 Salil Shetty

19. Secretary - General of Organization for Economic Co-operation and Development (OECD):Jose Angel Gurria

20. Secretary General of Organization of Petroleum Exporting countries (OPEC): Abdalla - Salem -El -Badri

21. President of European Commission: Jose Manuel Durao Barroso

22. President International Olympic Committee (IOC): Jacques Rogge

23. President of International Cricket Council (ICC): David Morgan

24. Chief Executive Officer of International Cricket Council: Haroon Lorgat

25. President FIFA: Joseph Sepp Blatter

26. Chairman of Federal Reserve Bank of America: Ben Bernanke

27. President of the Asian Development Bank (ADB): Haruhiko Kuroda


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2Current Affairs Supplement LST 2010Replication or other unauthorised use of this material is prohibited by the

copyright laws of India

B. Heads of important Government Offices, Institutions / Other organizations

1. Chief Justice of Supreme Court of India: K. G. Balakrishnan2. President of Sahitya Academy: Sunil Gangopadhyay3. Chairperson of Prasar Bharti of India: Mrinal Pandey4. Chairman of the Planning Commission of India : Dr. Manmohan Singh5. Deputy chairman of the Planning Commission of India: Montek Singh Ahluwalia6. President of Confederation of Indian Industries (CII): Venu Srinivasan7. Director General of Confederation of Indian Industries (CII): Chandrajeet Banerjee8. President of Federation of Indian Chambers of Commerce & Industries (FICCI): Rajan Bharti Mittal9. President of National Association of Software and Service Companies (NASSCOM): Som Mittal10. Chairman of National Association of Software and Service Companies (NASSCOM) for 2009-2010:

Pramod Bhasin11. Chairman of National School of Drama: Amal Allana12. Comptroller & Auditor General of India (CAG): Vinod Rai13. Central Vigilance Commissioner (CVC): Pratyush Sinha14. Director General of Council of Scientific & Industrial Research: Samir K. Brahmachari15. Director of Indian Agriculture Research Institute(IARI): Hari Shankar Gupta

16. Chairman of the Election Commission / Chief Election Commissioner: Naveen Chawla17. Attorney General of India: Goolam E. Vahanwati18. Solicitor General of India : Gopal Subramanium19. Law minister to the Government of India :- M. Veerappa Moily20. Chairman of Life Insurance Corporation of India: T.S. Vijayan21. Chairman cum Managing Director of (CMD) of General Insurance Corporation of India (GIC):

Yogesh Lohia22. Chairman of Insurance Regulatory & Development Authority (IRDA): J. Hari Narayan23. Chairman of National Bank for Agricultural and Rural Development (NABARD): Umesh Chandra

Sarangi24. Chairman of University Grants Commission (UGC): Sukhdev Thorat

25. Chairman of Press Trust of India (PTI): Viajy Kumar Chopra26. Governor of Reserve Bank of India: D. Subbarao27. Chairman of the State Bank of India: O.P. Bhatt28. Secretary General of Lok Sabha: P.D.T. Achary29. Speaker of the Lok Sabha: Meira Kumar30. Deputy Speaker of the Lok Sabha: Karia Munda31. Chairman of the Rajya Sabha: Mohammad Hamid Ansari32. Deputy chairman of the Rajya Sabha: K. Rahaman Khan33. Secretary -General of the Rajya Sabha: Vivek Agnihotri34. Chairperson of the Children Film Society of India: Nandita Das35. Chairman of Union Public Service Commission (UPSC): D. P. Aggarwal

36. Chairman of Telecom Regulatory Authority of India (TRAI): Dr. J.S. Sarma37. Cabinet Secretary to the Government of India: K. M. Chandrashekhar38. Chairman of Securities & Exchange Board of India (SEBI): C. B. Bhave39. President of ASSOCHAM: Swati Piramal40. Chief of the Army Staff: V.K. Singh41. Chief of the Air Staff: P. V. Naik42. Chief of the Naval Staff: Nirmal Kumar Verma43. Chief of the Integrated Defense staff: Suresh Chand Mukul


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44. Director of Central Bureau of Investigation (CBI): Ashwini Kumar45. Chairman of Indian Space Research Organization (ISRO): K. Radhakrishnan46. Chairman of National Dairy Development Board (NDDB): Amrita Patel

C. Important Commissions and Chairpersons

1. Chairman of 13th Finance Commission of India: Dr. Vijay Kelkar

2. Chairman of 18th Law Commission of India: A. R. Lakshamanan3. Chairman of National Knowledge Commission: Sam Pitroda4. Chairman of National Farmer Commission: M.S. Swaminathan5. Chairman of National Investment Commission: Ratan Tata6. Chairperson of the National Commission for Women: Girija Vyas7. Acting chairperson of National Human Rights Commission: G. P. Mathur8. Chairman of National Commission for Minorities: Mohammed Shafi Qureshi9. Chairman of the National Commission for Backward Classes: Presently vacant10. Chairman of the 19th Law Commission of India : P.V. Reddy11. Chairman of Oil Pricing Committee: Kirit Parekh12. Chairman of National Commission of Scheduled Tribes (STs): Presently vacant

13. Chairman (part time) of Forest Commission of India: B.N. Kirpal(part time)14. Chairman of Central Water Commission: A.K. Bajaj15. Chairman of Company Law Board: Dilip Raosaheb Deshmukh16. Chairman of National Statistical Commission: R. Radhakrishna17. Chairman of the Committee on the Fully Convertibility of Rupee/ Capital Account Convertibility:S. S.

Tarapore18. Chairman of the sixth pay commission: B. N. Srikrishna19. Chairman of the committee appointed to study at the status of Muslims in India: Rajinder Sachar20. Chairman of the Babri Masjid demolition issue: M.S. Liberhan21. Chairman of 1993 Mumbai bomb blast case: Justice Sri Krishna

D. Important Personalities who passed away in 2009-20100& their associated fields

i. International Personalities

1. Mark Felt - Also known as 'Deep Throat' the secret informant of the Watergate Scandal that ultimatelyled to the collapse of the Richard Nixon government.

2. Harold Pinter - The Nobel prize winning British Playwright.3. Samuel P. Huntington - A famous political scientist known for his views on clash of civilizations.4. Jade Goody - A dental surgeon by profession and a world famous reality show artist.5. Henry Allingham - World's oldest man

6. Les Paul - A guitar legend7. Kim Dae Jung - Former President of South Korea8. Abdurrahman Wahid--------Former President of Indonesia9. Yegor Gaider ---Famous Russian politician10. Paul Samuelson - A famous American economist , winner of Nobel Prize in Economics in 197011. J.D. Salinger -------American author12. Erich Segal---American author and professor13. G.P. Koirala -Former Nepalese Prime Minister


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ii . Indian Personalities

1. Manjit Bawa - A distinguished painter2. Vimla Thakar - A noted Gandhian and a spiritual thinker3. Firoz Khan - A noted cine-actor4. Raja Chelliah - A noted economist , known for his report on tax reforms in India5. Vishnu Prabhakar - A renowned Hindi author6. Syed Abdullah Bukhari - Former Shahi Imam of Jama Masjid7. D.K. Pattamal - A famous Carnatic vocalist8. Gangubai Hangal - A renowned Hindustani classical vocalist9. Leela Naidu - Known Hindi film actress10. Gayatri Devi - Former Queen of Jaipur11. Y.S. Rajshekhar Reddy - Chief minister of Andhra Pradesh12. S.K. Singh ----Governor of Rajasthan13. Ram Niwas Mkirdha -Indian politician and chairman of Sangeet Natk Akademi14. Janeshwar Mishra - Indian Politician15. Jyoti Basu - Indian Communist politician. Longest serving chief minister of an Indian state West

Bengal

16. Nanaji Deshmukh ----Indian social activist , politician17. Nirmal Pandey ----Indian actor18. K.N. Raj ---A noted India economist19. Subir Raha -----Indian management professional former CMD of ONGC20. C.K. Prahalad - Management Guru

2. IMPORTANT PLACES

Sports related venues

1. Olympic Games 2008: Beijing (China)

2. Olympic Games 2012: London (U. K)3. Olympic Games 2016: Rio de Janiero4. Asian Games 2006: Doha (Qatar)5. Asian Games 2010: Guangzhou (China)6. Asian Games 2014: Incheon (South Korea)7. Tenth South Asian Federation Games-2006: Colombo (Sri Lanka)8. Eleventh South Asian Federation Games-2010: Dhaka (Bangladesh)9. Commonwealth Games 2006: Melbourne (Australia)10. Commonwealth Games 2010: New Delhi (India)11. Winter Olympic Games 2006: Turin, Italy12. Winter Olympic Games 2010: Vancouver (Canada)

13. Winter Olympic Games 2014: Sochi (Russia)14. International Cricket Council World Cup -2003: South Africa15. International Cricket Council World Cup - 2007: West Indies16. International Cricket Council World Cup - 2011: India + Sri Lanka + Bangladesh17. FIFA World Cup 2006: Germany18. FIFA World Cup 2010: South Africa19. FIFA World Cup 2014: Brazil20. 35th National Games of India - 2010: Kerala


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21. Twelfth South Asian Federation Games-2012-New Delhi( India)22. Commonwealth Games 2014-Glasgow(Scotland)23. 36th National Games of India-2011:Goa24. 37th National Games of India-2012: Chhattisgarh

3. IMPORTANT AWARDS

A. Important Awards and Winners

1. Nobel Prize Winners 2009

Peace: Barack Obama "for his extraordinary efforts to strengthen international diplomacy andcooperation between peoples"

Literature: Herta Mller, A Romanian author.

Economics: Elinor Ostrom & Oliver E. Williamson for their analysis of economic governance

Physics: Charles K. Kao Willard S. Boyle George E. Smith "for groundbreaking achievementsconcerning the transmission of light in fibers for optical communication"& "for the invention of animaging semiconductor circuit - the CCD sensor"

Chemistry: Venkatraman Ramakrishnan Thomas A. Steitz Ada E. Yonath "for studies of the structureand function of the ribosome"

Medicine: Elizabeth H. Blackburn, Carol W. Greider, Jack W. Szostak "for the discovery of howchromosomes are protected by telomeres and the enzyme telomerase

2. Ramon Magsaysay award-2009/Asia's Nobel Prize: Deep Joshi, a renowned social worker who

brought professionalism in the working of NGOs and contributed immensely in the development ofrural India.

3. Man Booker Prize for fiction for 2009: This award has been won by Hilary Mantel for her novelWolf Hall

4. 82nd

Oscar Awards 2009:a. Best Picture of 2009: The Hurt Lockerb. Best Actor: Jeff Bridges in The Crazy Heartc. Best Actress: Sandra Bullock in The Blind Sided. Best Director: Kathryn Bigelow for The Hurt Locker

e. Best Foreign language film: The secret in their eyes( Argentina)5. Indira Gandhi Prize for Peace, Disarmament and Development for 2009: Sheikh Hasina

6. Mahatma Gandhi International Award for Peace & Reconciliation in 2009: This award hasbeen won by Aung San Suu Kyi, a Nobel laureate and famous pro democracy leader of Myanmar.


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7. Rajiv Gandhi Khel Ratna Award 2008-09: The latest recipients are Mary Kom (Women'sboxing),Sushil Kumar (Wrestling), Vijender Kumar (Men's Boxing).

8. Jananpith Award for 2006: Ravindra Kelekar for his numerous works in Konkani language andSatyavrat Shastri for his number of works in Sanskrit.

9. Dada Saheb Phalke award for 2008: This prize has been won by ace cinematographer V.K.Murthy

10. Miss Universe 2009: This title has been won by Stefania Fernandez of Venezuela

11. Miss World 2009: Miss Gibraltar, Kaiane Aldorado won this coveted title.

12. Vyas Samman 2009: Well known Hindi novelist Amar Kant won the 2009 Vyas Samman for hisnovel Inhi Hathiyaron Se.

13. Stockholm Water Prize 2010: Rita Colwell is the winner of this award for 2010.

B. Important Sports Awards and winners

1. FIFA World Cup 2006: Italy won the FIFA World cup held at Germany, by defeating France in thefinals.

2. Sultan Azlan Shah Hockey Tournament 2009: India became the champion in 2009 by defeatingMalaysia.

3. Grand Slam Tournaments

A. Wimbledon 2009

i. Men's Singles title was won by Roger Federer by sdefeating Andy Roddickii. Women's Singles title was won by Serena Williams by defeating Venus Williams

B. French Open 2009i. Men's Singles title was won by Roger Federer by defeating Robin Soderlingii. Women's Singles title was won by Svetlana Kuznetsova by defeating Dinara Safina

C. U.S. Open 2009i. Men's Singles title was claimed by Juan Martin Del Potro by defeating Roger Federer.ii. Women's Singles title was won by Kim Clijsters by defeating Caroline Wozniacki

D. Australian Open 2010i. Men's Singles title was claimed by Roger Federer by defeating Andy Murray .ii. Women's Singles title was won by Serena Williams by defeating Justine Henin


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Important Events of November 2009

Sachin @ 20AN ace cricketing star and a youth icon for thousands of his fans, also known as the master blaster,

Sachin Tendulkar, celebrated his 20 years in the international cricket in November. Tendulkar made his

debut in the international arena against Pakistan at Multan on November 15, 1989. Gujarat chief minister

Narendra Modi felicitated him on this occasion.

Earlier India lost to Australia by three runs in Hyderabad. Captain MS Dhoni said India lost the mental

battle. This was despite Tendulkars terrific 175 against 141 balls. India required 19 runs off the remaining

17 balls. And we could not manage! It was Tendulkars 45th ODI century but much to the disappointment

of the fans, India lost the game after such a brilliant performance by the champion.

If anything, November has been a month of media gaze for Tendulkar for good and bad reasons. The

tongue-lashing happened after Shiv Senas Bal Thackarey wrote against Tendulkar in Saamna, partys

quasi-official newspaper, that he should refrain from batting his tongue against the rights of the Marathi

people. This was in reaction to the latters statement during a press conference where he said he is a

Maharastrian and extremely proud of that but he is an Indian first. And Mumbai belongs to all Indians. This

apparently upset Thackeray who slammed the remark in his editorial in Saamnarebuking Tendulkar. While

to his fans Tendulkars statement doesnt seem to be wrong at all, we all know why is Shiv Sena bringing

this topic of Maharashtra for Marathis again and again. Politicians from wide political spectrum came out

in full support of Tendulkar including Ashok Chavan, Maharashtra CM and BJP leader Arun Jaitely.

The same intolerant attitude of Raj Thackeray led Maharashtra Navnirman Sena (MNS) was witnessed in

the case of Abu Azmi, MLA from Samajwadi Party, of the newly elected Maharashtra Assembly. MNS

attacked him for taking oath of office in Hindi. They accused him of not taking oath in Marathi. The

members of MNS indulged in acts of vandalism, damaged equipment, hurled papers and banners andstalled proceedings. A woman member also became the target of the onslaught.

This way we are digging the ground for our own burial. Regionalism will break this nation into how many

pieces we all can count!

Headley under axeDAVID Coleman Headley, a US citizen who changed his name from Daood Gilani in 2006 and resides

primarily in Chicago, was arrested in early October by the Chicago FBIs Joint Terrorism Task Force (JTTF)

at OHare International Airport before boarding a flight to Philadelphia, intending to travel to Pakistan. Hewas charged with conspiracy to commit terrorist acts involving murder and maiming outside the United

States, and to provide material support to overseas terrorism.

Tahawwur Rana, a native of Pakistan and citizen of Canada, who also primarily resides in Chicago, was

arrested later on, at his home by federal agents. Rana is the owner of several businesses, including First


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World Immigration Services. He was charged with conspiracy to provide material support to a foreign

terrorism conspiracy that involved Headley and at least three other specific individuals in Pakistan.

It was later alleged that Headley had links with the 26/11 Mumbai terror attacks. Headley, believed to have

visited India nine times between 2006 and 2009, was planning to launch major terror strikes at several

places in India at the behest of the LeT. The National Investigation Agency (NIA) raided several places in

Mumbai on this account. Bollywood filmmaker and director Mahesh Bhatts son Rahuls name also appearsin NIAs list. Though Rahul and his father denied any charges, Rahul is facing some restrictions from the

authorities on his movements. NIA detectives went through records of the two luxury hotels in Mumbai

the Taj and the Trident where Headley is believed to have stayed prior to the 26/11 terror attacks.

Rana also visited India along with a woman accomplice. He was granted visa by the Indian consul-general

in Chicago without the home ministrys clearance. This was a gross violation of norms as that mandate the

home ministrys clearance for any person born in Pakistan. Rana and his accomplice were both born in

Pakistan.

PMs US visitPRIME Minister Manmohan Singhs visit took place among expectations of stronger ties and a show of

strength to the world. A lot of MoUs among industry leaders from both the sides were signed. US President

Barack Obama called India a nuclear power rather than a nuclear state, a term that was often used for India

with regard to its nuclear technology. Experts see it as an acceptance of India as a powerful ally.

A dinner party was thrown at the premises of White House. As the hall would be small to accommodate the

huge number of guests, a pandal was specially put for the occasion.

Justice awaitedTHE Supreme Court appointed Special Investigation Team (SIT) to look into Gujarat riots of 2002 has been

working on its task. After having done with recording statements of three vital witnesses in the Gulberg

massacre case, head of the SIT RK Raghavan sat through the trial proceedings at the fast-track court of

BU Joshi. Raghavan seems to be intently following the proceedings of the court. Raghavans visit assumes

significance as the three witnesses, Imtiaz Khan Pathan, Rupa Modi and Saeed Khan Pathan, have

deposed before the fast-track court of BU Joshi till now. Till date, over 120 witnesses have been examined

in the Gulberg case.

At least 37 people, including Congress MP Ahesan Jafri, were killed in the Gulberg society massacre,which took place on February 28, 2002, a day after the Sabarmati train carnage. A chargesheet was filed

against 54 people in 2002. Later, the SIT filed chargesheets against the accused.


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Earlier, one of the three witnesses, Rupa Modi, who lost her son in the massacre, told the court that when

a mob attacked the Gulberg society, Jafri had told her about the conversation with Modi asking for protection

and also that the latter paid no heed to his pleas. Rupas son went missing after the Gulberg attack and

later declared dead after passage of seven years. The movie Parzania, one of the best made movies on the

issue, is based on Rupas experience.

Whether to singIN an unexpected move, Jamiat Ulema-e-Hind, an organisation of Muslim clerics, at its national conventionat Deoband recently endorsed an earlier fatwa (decree) of the Deoband seminary against Vande Mataram

on the grounds that some of its lines were against the religious principles of Islam. This revived a controversy

that has existed since 1930s. A number of prominent Muslim personalities issued a statement condemning

such a move by the body. They said that the issue was solved long ago when it was decided that certain

portions of the song will not become a part of public recital of Vande Mataram. The national song has

always been at the centre of controversies. The novel Anand Math, from where the song is derived, has a

profound brahmanical bent and places Muslims in an unfavourable light. Though there have

been trials to come to a conclusion, it has not been possible because of the very nature of the song.

Stability in Karnataka govt, finallyTHE BJP-led government in Karnataka evaded a crisis by close margin when its tourism minister G

Janardhana Reddy rebelled against some policies of the Chief Minister BS Yeddyurappa and demanded a

change in the leadership. After intervention of the top BJP leadership, crisis was resolved. The deal was

that Yeddyurappa would continue as the CM, but several recent decisions taken by him that had irked

Janardhana Reddy and his brother Karunakara Reddy would be revoked and a coordination committee will

be set up for taking major decisions. One or more of the Reddy brothers would be members of the panel.

The casualty of all this was Shobha Karandlaje, the only woman minister in the 33-member BS Yeddyurappa

cabinet. She had to resign as the minister for rural development and panchayat raj. She wielded considerableinfluence in the 18-month-old BJP government.

BJPs high commandTHE BJPs new high command will in all likelihood be as per the command of the RSS. Nitin Gadkari,

Maharashtra BJP chief, will takeover as the national President after Rajnath Singhs term ends. Gadkaris

name started doing rounds in November beginning when RSS chief Mohan Bhagwat said that the next BJP

chief would be from outside Delhi. The strong probables Arun Jaitley, Sushma Swaraj, Venkaiah Naidu and

Ananth Kumar were thus sidelined for the post. The question that the RSS and the BJP, more than anyone

else, need to answer is, will Gadkari be a match to the growing popularity of Rahul Gandhi, and therelentless effort that Gandhi is putting in, to improve the support base of Congress? Especially if he doesnt

get unquestionable support from the four national leaders who are feeling insulted at being sidelined?


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No to Dinakaran

THE elevation of Karnataka High Court Chief Justice PD Dinakaran, facing allegations of land grab, to the

Supreme Court has been effectively put on hold with the Centre being asked to process only the names of

the four other judges cleared for promotion along with him. The Chief Justice of India KR Balakrishnan said

that no decision has been taken yet, its on hold. The five-judge Supreme Court collegium headed by the

CJI earlier cleared five names for the elevation. The lawyers of Karnataka High Court protested againstcorrupt practices of Dinakaran.

An apolitical visitTHE Dalai Lama chose to call his visit to Tawang monastery in Arunachal Pradesh an apolitical one, and

only for spreading religious message, but even he would not have been oblivious of the political ramifications

of his visit. His four-day stay in Arunachal certainly put additional strain on the already strained Sino-India

ties. China accused India of supporting the Dalai Lama in his plans, to which Indian Prime Minister retorted

that he was an honourable guest. Minister of state for external affairs said China was irked by the very

presence of the Dalai Lama in India. The Dalai Lama had arrived in Tawang monastery from China in 1959,

ie 50 years ago.

Koda, the new king of scamsFORMER Jharkhand Chief Minister Madhu Koda finds himself at the center of a Rs 4,000 crore mining

scam, involving, perhaps, a number of biggies in Indian politics. A diary recovered by IT sleuths contains

eight pages of hand-written entries, indicating money transactions, and one entry states Lalu. Among

others is a Member of Parliament and a BCCI member, a nephew of a Union minister, and a former

Maharashtra minister. Koda got the mines ministry in Jharkhand in 2005, and retained the ministry even

when he became the chief minister in 2006. He resigned in 2008 ahead of a trust vote. During his tenure as

mines minister, he seems to have struck gold, allegedly making crores through bribes, cut-offs and othermodes. Koda, however has alleged that he was being framed because of his backward background and

because vested interests did not want tribals to progress.

Tragediesl The Jodhpur-Delhi Mandor Superfast Express derailed near the Bansko station in Jaipur, Rajasthan

killing seven passengers and injuring two dozen others. The accident took the passengers by surprise

at 1:35 am when most of them were asleep. Identifying victims gave rise to confusion as only mutilated

body parts and a headless body was found at the site

l

Three hundred deserted huts of Bru community were torched down in Mizoram. The mob responsiblefor the act did it in response to gunning down of a youth at Bungthuam, located on the Tripura border,

in Mizoram.

l A gas explosion tore through the Xinxing mine, a coal mine in Heilongjiang province in northern China,

which killed more than 30 people and trapped many more. Explosion took place nearly a third of a mile

under ground. An official report said the explosion was caused by a gas buildup. It shattered windows

within 20 yards of the mine shaft.


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l In an unfortunate incident 2,000 people were rendered homeless when a two-hour fire razed more than

4,000 shanties in Barangay Poblacion, Kalibo, Aklan, Philippines.

A home for billionairesA slip in Human Development ranking or an ever growing incidence of farmers suicides that do not deter

Indias march into the list of billionaires. This year, 52 Indians have found their places in the billionaire club,

nearly doubling the number from 27 last year, according to Forbesannual list of the richest.

The top three Indian tycoons Mukesh Ambani, steel tycoon Lakshmi Mittal and Anil Ambani worth

US$ 79.5 billion, which is US$ 25.7 billion more than their combined worth in the last year. However, their

total worth is far less than their record total of US$ 145 billion in 2007 when India had 54 billionaires. The

year 2007 was marked by spectacular stock market boom in India. China has more billionaires than what

India has. But Chinese billionaires are less rich than their Indian counterpart.

In a country where unequal development has led to accumulation of the riches in the hands of a very few,

top 100 Indians worth is US$ 276 billion, which is almost one-fourth of the countrys GDP.

Trade pact with EU expeditedINDIA has boldly declared that only trade and investment issues will be negotiated regarding the India-EU

Free Trade Agreement (FTA) and it would not talk on non-trade issues like child labour and environmental

laws. The 10th India-EU summit has decided to speed up the negotiations. Both India and the EU expect

to formulate an agreement on FTA by the end of 2010.

Regarding the issue of visas to unskilled labourers from EU countries, India has stated that it would not

encourage inflow of unskilled labourers. A vast nation like India has enough of supply of unskilled labour.

However, there will be no bar on the movement of technical staff from EU who come to work on variousprojects that are operational in India. Both have agreed upon the need to go forward with the Doha Round.

India also insisted the EU to take measures to ensure free movement of people to the EU from India. It

has asked EU to put a mechanism in place for carbon credit and carbon funding through setting up of a

carbon fund.

Both India and the EU started FTA negotiations in 2007, but the negotiations reached a loggerhead due

to differences over intellectual property rights and the EUs insistence to link trade with climate and other

extraneous issues like child labour. India has stressed that the respective positions of the EU and India

on climate change will be taken up in the UN Climate Change summit in Copenhagen later this year.


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Ratan Tatas successorIT is quite unknown in India not to pass on your business to immediate family. But a leading business

house, which has played an important role in the countrys progress and politics during freedom struggle

and after, is all set to do so. Ratan Tata, head of the Tata conglomerate, which includes Tata Motors, Tata

Steel, Tata Consultancy Services and Tata Power among its 27 listed companies, is looking for a successor.

There is no name from the family that has come into public so far. Interestingly, Ratan Tata has expanded

his choice from India to the world. He has emphasised that his successor can well be from overseas.One reason, as experts believe, could be that 65 per cent revenues for the Tata group comes from

overseas.

Gas row continuesTHE Memorandum of Understanding (MoU) entered between the two Ambani brothers and their mother

could not override government policy in the allocation of gas, argued senior counsel for Reliance Industries

Ltd (RIL) Harish Salve in the Supreme Court during a hearing in the Ambanis case. Continuing his

submissions before a three-judge bench of Chief Justice KG Balakrishnan, Justice B Sudershan Reddy

and Justice P Sathasivam, Salve said that the MoU does not become binding on the board of directors of

RIL simply because negotiations are not going to a favourable end for one side of the negotiators.

He argued that the MoU itself states that the scheme of demerger will be approved by the board of

directors. This was also subject to requisite permissions and approvals from the two companies and the

government.

Food prices riseDRY spells and flood in the country, hoarding, and speculative activities in the futures market have

pushed up the prices of the food items. Indias food price index has increased by 14.55 percent in the 12

months to November 7. On an annual basis, the price of potato has doubled since October last year,while price of onions has increased by 37 per cent. Vegetables are costlier by 23 per cent, sugar price

has risen by 45 per cent and wheat price by 13.22 per cent. Indias annual WPI is up by 1.34 per cent.

There is a possibility of the tightening of the monetary policy if price rise continues.

PSU for saleTHE Centre has decided mandatory listing of 10 per cent public ownership of all profitable listed central

Public Sector Units (PSUs). In addition, all unlisted PSUs having positive net-worth, no accumulated

losses and having a net profit in the three preceding consecutive years will be listed on the stock exchanges.

The disinvestment proceeds would go into the National Investment Fund (NIF). The Fund will be utilized forinvestment as capital expenditure in specific social sector schemes. Listing of PSUs is aimed at unlocking

greater shareholder value in them. Availability of good quality PSU shares for trading provides depth and

liquidity to the market. Additionally, the government has come up with the logic of peoples ownership of

profit making PSUs, whereby selling of government stakes to the private players is termed as peoples

participation.


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However, the real peoples ownership ie shares of small denominations, has always found to be negligible.

Thus, in the name of peoples ownership, it is always the private big players who gain the ownership, while

a peoples government loses that ownership.

Fuelling our highwaysTHE special committee formed by Prime Minister Manmohan Singh, to look into the problems of the road

transport and highways ministry that had impeded the construction of national highways during the pastfive years, has recommended the cess imposed on petrol and diesel to finance road projects to stay for

at least the next two decades.

The committee has suggested that a written undertaking should be given to the National Highways

Authority of India (NHAI) assuring that the fund received from the cess imposed would be continued till at

least 2030-31. At present the cess imposed by the finance ministry on petrol and diesel is Rs 2 and Re

1, respectively and is used for financing road projects across the country. The Centre has approved the

issuance of tax empted bonds by the NHAI to raise finances. It has also directed the Indian Infrastructure

Finance Corporation Ltd to set aside at least Rs 10,000 crore for road projects from Rs 30,000-crore

permitted borrowings under the fiscal stimulus package.

Additionally, the government has proposed 10 mega highway projects, involving Rs 45,000 crore

investments. The government has also invited interested parties to submit their qualification document in

a bid to fast-track some of these projects.

Each of these 10 mega contracts worth around US$ 1 billion each. The projects would develop more than

4,800 km of modern highways spread over seven states.

Finance Commissions report soon

THE 13th Finance Commission will submit its report containing recommendations mainly on the sharing oftaxes between the Centre and the States to the President of India by the end of the year. The Commission

is headed by Vijay Kelkar. The report is expected to be submitted by December 31. The recommendations

will cover the five year period commencing from 1st April, 2010.

The government had extended the term of the Commission by three months up to January, 2010. It was

earlier required to submit its report by October 31, 2009. The Commission was appointed in November,

2007. Broadly, its mandate covers a review of finances of the Union and the States and sharing of the net

proceeds of the taxes between the two.

John Flannery has been appointed as the president and chief executive of business operations in India ofGeneral Electric (GE)


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Important Events of December 2009

Copenhagen: disappointing salvageTHE Copenhagen talks that began on December 7 with high hopes pinned on over 100 heads of state and

government who were to sit together and crack a deal on the burning climate issue, was anything but

disappointing. As per the latest development, the US, Chinese and three other leaders reached an agreementon tackling climate change but their deal has already caused widespread disappointment.

US President Barack Obama earlier condensed the talks saying that there exists a fundamental deadlock

in perspectives on how to deal with the climate change between the developing and developed nations.

Also, the dividing lines between the poor countries and richer developing nations seemed to turn sharper

with almost every country coming with their own deal. Days of unrelenting talks with no outcome ended

with the leaders delaying their departure to negotiate on a face-saving declaration. The conference was

scheduled to end on Friday, December 18. However, the leaders including Indian Prime Minister Manmohan

Singh stayed back for an extra day to chalk out a salvaging declaration.

Late on Friday night, emerging economies including India prepared a Copenhagen accord along with the

US so that the same could be presented to an overnight plenary session. The draft came after heads of 25

countries along with the European Union and the UN Framework Convention on Climate Change prepared

it. The agreed upon goal was to keep the rise in temperature within two degree Celsius.

The talks majorly faltered with rich nations insisting large developing nations like India and China to join a

new legally binding treaty to cut emissions, and the developing nations saying that the former should rather

fulfill their obligation to reduce emissions.

On a slightly promising note, Japan promised monetary aid if a deal came out. Also, a six-member groupof Australia, France, Norway, the UK and US, including Japan collectively promised monetary aid to fight

deforestation.

Earlier, India promised a 20-25 per cent cut in the carbon emissions intensity, ahead of the talks with

Environment Minister Jairam Ramesh clearly stating that India will not accept any binding emission targets.

It was stated that mandatory fuel efficiency standards will be put in place in the next couple of years,

cleaner technology in coal-fired power plants will be deployed as well as building codes for greater energy

efficiency will be enforced.


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Telangana: finally a separate stateTHE Centres announcement that the process of forming the state of Telangana would be initiated and an

appropriate resolution moved in the Andhra Pradesh Assembly put an end to K Chandrasekhar Raos 11

day fast, pushing Andhra Pradesh into a state of political crisis. The announcement has triggered

demonstrations and protests, violence in some areas, disrupting peace and normal life in several parts of

the state. The Union governments announcement was criticised by elected political representatives of the

coastal Andhra and Rayalaseema regions as hasty, based on wrong threat perceptions, and so on. Theproposed new state prompted mass resignations by state ministers, apparently with the intention of bringing

pressure on the Centre.

The Centres announcement of a separate Telangana state was followed by similar demands for states

such as Gorkhaland, Poorvanchal, Bundelkhand, Vidarbha and Harit Pradesh, among others, in different

parts of the country. The debate still continues at the Assembly with several parties opposing the division.

A senior TRS leader told Times of Indiathat as per the Centres indications to the TRS leadership, the

government of India will start the process in February if all goes well.

25 years of tragedyONE of the worlds worst industrial disaster completed its 25 years on December 3. So did the injustice

that has been imposed upon the victims of the disaster. Bhopal gas tragedy took place on the night of

December 2-3, 1984. Thousands of men, women and children died because of the deadly gases, mostly

the highly toxic methyl isocyanate that escaped from plant of Union Carbide India Limited located in the

city. The gas blinded many people and affected adversely on many other body parts and organs. The

effects are seen even today as the children of the victims are still born with ailments and deformed bodies.

The Indian government and judiciary have still not brought to books the culprits. It is a common knowledge

that the then CEO and chairperson of Union Carbide, Warren Anderson is to be held responsible for the

tragedy. But there are some obvious business interests between the US and India, which have led to thisdelay. In fact, once a senior counsel asked the court to look into the matter with empathy due to old age of

Anderson!

Union Carbide was taken over by Dow Chemicals later and that has further complicated the case.

The money that was initially to be distributed among one lakh odd victims, is supposed to be given to

nearly six lakhs of them as the number of people affected by the tragedy keeps increasing.

Better late than never

LIBERHAN Commission report on the 1992 Babri Masjid demolition in Ayodhya was to be tabled in theParliament towards the end of the winter session. But a leak in The Indian Expressdidnt leave any

option before the government but to table it early. Many portions of the report were leaked in the media

which was still not made public. It was not found out who did it but gave BJP and rest of the Sangh parivar

a chance to blame Congress of tarnishing its image just before the Jharkhand elections.


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The one-man Commission, headed by Justice Manmohan Singh Liberhan, took 17 years to submit the

report after taking 48 extensions. The 1029 pages long report has claimed that the demolition was a

planned exercise and not a spontaneous act by the kar sevaks. The whole Sangh parivar decided on it. It

has given list of 68 people culpable of spreading communal disharmony which includes former Prime

Minister Atal Bihari Vajpayee who is otherwise seen as the face of soft Hindutva. Predictably, it has names

of BJP leaders LK Advani and Kalyan Singh, the then chief minister of Uttar Pradesh. The report also

exonerates PV Narsimha Rao-led government at the centre for not having acted properly and promptly.

Since the leak of the report, the BJP has been saying that the party supported the Ayodhya movement, but

did not participate in the demolition. Congress has also said that the then government believed Kalyan

Singh who assured them that demolition will not take place. The left parties have accused both BJP and

the Congress, but after putting major blame on the BJP. CPM polit bureau member Sitaram Yechuri said in

an interview in NDTV that BJP was the murderer and Congress was the policeman who did not act to

prevent the murder. The bigger culprit is the murderer, of course. Meanwhile, justice to the victims of

communal violence has still to come. Indian state of Gujarat witnessed state-sponsored genocide of

minorities in 2002, a pogrom which went on for three months. Again, when the CM of Gujarat was from BJP.

Had an appropriate action been taken against those who spread communal tensions and violence in 1992,Gujarat pogrom could have been avoided. We can only hope that at least now a stringent action would be

taken.

Headley revelationsUS national David Coleman Headley alias Dawood Gilani, as per reports, had conducted a recce of places

that were targeted in the 26/11 Mumbai attacks last year. Also, it is said that he was present in a control

unit located in Pakistan during the strikes along with the masterminds. Media reports say that 48-year-old

Headley was present in person in the room from where the 10 LeT militants were guided to various locations.

The FBI has been asked for a voice sample of the accused so that it could be matched by the securityagencies in India for further interrogation into the matter. Headley is facing charges of conspiring in the 26/

11 attacks. Words are also rife that Hedley was an American secret agent who went rogue, however

Americas Central Intelligence Agency (CIA) strongly refuted media reports that Hedley, was its agent at

any point of time. Meanwhile another suspect Tahawwur Rana who has denied his involvement in the

attacks through his lawyer is said to have complimented the militant group LeT, as per US prosecutors.

Koda of conductIN a case of one of its kind, former Jharkhand Chief Minister Madhu Koda was arrested by the police for a

judicial custody of 14 days. A vigilance court remanded him. He has been accused of siphoning of state

funds and building his personal business empire worth of Rs 4,000 crore. The 38-year-old former CM and

current MP from Sighbhum was arrested from a guesthouse in Chaibasa, West Singhbhum district of

Jharkhand and brought to Rachi amidst tight security where special judge Binoy Kant Khan of the vigilance

court spelt out the interim order. He was then taken to the Birsa Munda Central Jail at Hotwar, about 14 km

from Ranchi. Earlier, Koda failed to respond to the state vigilance investigation bureaus second summons

to appear before it on November 28 for interrogation. Koda also ignored as many as three notices from the


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Enforcement Directorate (ED) to appear before it on November 11, 15 and 19 for interrogation. Finally he

was arrested two months after the case was registered against him. Koda headed the UPA government as

an independent MLA from September 2006 to August 2008. ED is probing charges of money laundering

involving Rs 5,500 crore by Koda during this 23-month tenure as state CM. He is also accused of having

indulged in corrupt practices as mines minister in the Arjun Munda-led BJPs coalition government from

August 2005 to September 2006. Koda recently formed a political party called the Jharkhand Navnirman

Morcha.

Dinakaran impeachedA group of 76 members from the Rajya Sabha belonging to various political parties set in motion the

impeachment process of Karnataka High Court Chief Justice PD Dinakaran. Justice Dinakarans elevation

to the Supreme Court has been put on hold because of the current allegations of disproportionate assets.

The opposition BJP, Left, BJD, Samajwadi Party, Janata Dal (United), TDP, AIADMK and BSP submitted

the notice to Hamid Ansari, Rajya Sabha chairman. Following this a three-member committee comprising

a Supreme Court judge, Chief Justice of a High Court and a jurist will be formed to further probe the

charges. As per rule, 50 Rajya Sabha members or 100 Lok Sabha members can move Parliament for such

an impeachment.

Shopian controversyTHE alleged rape and murder of two women in south Kashmirs Shopian district has triggered a massive

furore in the Kashmir valley this year. With the Central Bureau of Investigation (CBI) having submitted its

final 66-page probe report the controversy has further deepened.

In a new twist to the Shopian case, the Central Bureau of Investigation has ruled out that the two women

were raped or murdered as alleged by relatives and later by people in the Kashmir Valley, leading to turmoil

for nearly two months. The two women, Nilofar Jan, 22, and her 17-year-old sister-in-law Asiya Jan, were

found dead May 30 off a stream in Shopian, triggering a major uprising in the Kashmir Valley this summer

amid allegations that the woman had been raped and murdered. Shopian town, observed a 47-day shutdown

before the state government announced a one-man inquiry commission.

An autopsy report had confirmed that the women were raped and the government appointed commission

alleged that four police officers were involved in destroying some of the key evidence following which they

were suspended and arrested. The Delhi-based Independent Womens Initiative for Justice (IWIJ), which

had sent its team to the valley on a fact finding mission, in its report alleged that the Jammu and Kashmir

government was involved in a major hush-up of the case.

Revamped and younger BJPIN a bid to usher in younger leadership after the Lok Sabha polls debacle, 57-year-old Maharashtra leader

Nitin Gadkari is set to take over as the party chief of the Bharatiya Janata Party (BJP) from 83-year-old Lal

Krishna Advani. Advani will quit as the leader of opposition in the Lok Sabha, while Rajnath Singh is to step

down as BJP president in order to complete the process. Advani was likely to be made the chairman of

BJP Parliamentary Party, a post that has been created by amending the parliamentary party constitution.


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But RSS chief Mohan Bhagwat suggested that the party would look better by having a younger leadership

between 55 and 65 years of age. Former Maharashtra deputy chief minister Gopinath Munde has been

appointed as deputy leader of the BJP in the Lok Sabha in place of Sushma Swaraj who has been elevated

as the leader of the opposition. Senior leader Arun Jaitley continues as the leader of opposition in the Rajya

Sabha.

Kaiga incidentTHERE is a call for higher safety measures for people dealing with hazardous substances after the recentincident at the Kaiga Nuclear Power Plant in Karnataka in which 55 people had to be hospitalised. The

incident came to light after water in one particular water cooler was spiked with a small dose of heavy

water.

Messi wins Golden BallLIONEL Messi paid tribute to Barcelona coach Pep Guardiola and his teammates a day after winning the

Golden Ball by a record margin. The Argentina forward won the European Footballer of the Year award by

the largest margin ever after helping the Spanish club win the Champions League, Spanish league and

Copa del Rey titles last season.

Twenty-two-year-old Messi received 473 of a possible 480 points to beat Real Madrid forward Cristiano

Ronaldo, last years winner, by 240 points. Messi, said that if the current rules had applied he believed that

Diego Maradona would have won it. He recently signed a contract extension that keeps him at the Camp

Nou through 2016 and he will lead Argentina at next years World Cup.

Nuke deal with RussiaEVEN as the fate of Indias nuclear deal with the US remains uncertain, India has signed a deal with

Russia in which she has bargained for much more than what the US could give. During Prime MinisterManmohan Singhs visit to Russia, India sealed a long-term historic nuclear pact with Russia for expanding

civil nuclear cooperation that is free from any restriction on India and guarantees it against any curb in the

future. Moscow, thus will set up more nuclear reactors in India, transfer the full range of nuclear energy

technologies and ensure uninterrupted supply of fuel. Dmitry Medvedev, Russian President, made it clear

that Russia will not accept any foreign-imposed restrictions in this deal with India.

Blasts in BaghdadM ORE than 100 people died and 500 were wounded as five bomb blasts rocked the capital of Iraq. Three

were suicide bombs. The blasts occurred over a span of half-an-hour. Many government buildings were

seriously damaged. The bombings targeted the ministries of the interior and of finance, as well as a popular

market and a court house.

An Al-Qaeda group claimed responsibility for the attacks. Iraqi Prime Minister Nuri al-Maliki sacked Baghdads

security chief for serious lapses in security.


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Swiss intoleranceSWITZERLAND known for its neutrality shocked everyone when in a surprise vote, the Swiss people

moved to ban the construction of minarets, the tall spires traditionally attached to mosques as it was

offensive to the secular and tolerant traditions of the country.

The vote has sparked accusations of Islamophobia as well as boycott fears, along with renewed debate

about the challenges of Muslim assimilation in the West. There are only four minarets in the country and

the mosques number only about 165. The Muslim population in the country also is not large. They are only

four lakh among 7.6 million. The minarets and the mosques are almost invisible, as is the Muslim presence

in society. And yet the vote was decisive with 57 per cent of the people and 22 of the 26 cantons voting for

the ban. The proposal is backed by conservative Christian groups and by the biggest party in Switzerlands

parliament, the right-wing Swiss Peoples Party (SVP), which says allowing minarets would lead to the

Islamisation of the country.

Shining starVIRENDER Sehwag came very close to creating history when he was on the verge of becoming the only

batsman in Test cricket history to make three triple centuries in Tests before he was dismissed for 293 inthe third Test against Sri Lanka. Virender Sehwags unbeaten 284 helped India post 443 for one in 79 overs

on the second day of the final Test against Sri Lanka at the Brabourne Stadium. This was Indias highest

single-day score in Tests. Sehwag reached his 100 from 101 balls with a swept boundary off Muttiah

Muralitharan. His double hundred, scored off 168 balls, was the second-fastest double century in Test

cricket, behind Nathan Astles 153-ball effort against England in 2001-02. Sehwag now has six scores

above 200, an Indian record. Mumbais historic Brabourne Stadium where Test cricket returned after a

break of 36 long years on Thursday saw Virender Sehwag tear apart the record books en route his sensational

unbeaten 284 against Sri Lanka in the third cricket Test. Sehwag bettered his own record in scoring the

fastest 250 off 207 balls. He surpassed his 250 off 225 balls against South Africa during his triple century

knock at Chennai in March 2008. Following that Virender Sehwag overcame One-Day crickets limitations

to take India to its highest ever ODI score bettering the previous highest of 413 for five set against

Bermuda in the 2007 World Cup against Sri Lanka in the first ODI in Rajkot.

India on a highINDIAN cricket touched an unprecedented high as the men in blue became the number one Test side for

the first time, dislodging South Africa in the ICC Rankings. The innings and 24-run win over Sri Lanka in the

third Test in Mumbai gave India a 2-0 series triumph and five rating points from the rubber, taking their

overall tally to 124. India is only the third team after Australia and South Africa to go atop the ladder since

the Test Championship was introduced in May 2001, the ICC said in a statement. India had started the

series in third spot on 119 ratings points, three less than South Africa. The 2-0 series win also means India

will finish 2009 as the number-one ranked side after starting the year in third place behind Australia and

South Africa.


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Tigers fall from gloryACE golfer Tiger Woods announced that he is taking an indefinite break from professional golf, according

to a statement posted on his website. I am deeply aware of the disappointment and hurt that my infidelity

has caused to so many people, most of all my wife and children, the statement says. I want to say again

to everyone that I am profoundly sorry and that I ask forgiveness. It may not be possible to repair the

damage Ive done, but I want to do my best to try. The 33-year-old golfer, who tops the sports world

rankings, has been mired in controversy since he crashed his car outside his Florida mansion. Thatprompted authorities to cite him for careless driving and fine him $164. Inthe week following the crash,

Woods apologised for transgressions that let his family down, on the same day that gossip magazine US

Weeklypublished a report alleging that Woods, who is married to Elin Nordegren, had an affair with a 24-

year-old cocktail waitress named Jaimee Grubbs. Tiger, who has two young children with wife Elin, has

been at the centre of a media storm after 11 women came forward claiming to have had affairs with him.

Dubai feels the heat

IT was more than feeling the heat, actually. Just when the world economy was coming to terms with the

upheaval in international markets and beginning to see hope, there was more to come. This time from

Dubai. One of the seven emirates that make up the UAE, the state-owned investment holding companyDubai World sought an extension until May next year to pay back its debt of a whopping $59 billion. Share

prices in the city suffered their biggest fall since March in the city that is oft called the millionaires

playground. Weaker currencies lay battered. The International Monetary Fund has cut its growth forecast

for the United Arab Emirates as the Dubai crisis is sure to have an effect on the economic activity. Real

estate prices, which rose dramatically during Dubais boom over the past decade, have dropped by more

than 30 per cent.

This is having a direct impact on those foreign nationals who were working in the land of plenty since they

can no longer be sure of holding on to their jobs. Although no statistics are available as present, it is clear

that several people are being sacked by companies that can no longer afford to pay their salaries. Even

luxury cars that would choke the smooth roads of the country are now for sale! Dubai even made it clear to

its neighbour Abu Dhabi that it will be open to a bailout but the action from the neighbour came only on

December 15. Abu Dhabi pumped $10 billion into the plummeting economy of Dubai. The result was that

stocks soared and the action probably saved the Emirates federation the humiliation of an almost sure

default.

A silver lining? Or is it?NOT all was bad when it came to statistics this month. Despite the Dubai crisis, stock markets all over the

world performed better than they had done for several months. But the big reason to party, however, wasthe growth rate for GDP for the second quarter that ended December 2009 7.9 per cent. It was 7.1 per

cent in the same quarter last year. The reasons were stimulus measures taken on by the government as

well as the pick-up in manufacturing activity. Some such measures taken by the Reserve Bank of India

were that the key reverse repurchase rate was kept at a record low of 3.25 per cent in the beginning of the

financial year. By the last week of October, the RBI had started to withdraw monetary stimulus by having

lenders to keep more money in government bonds.


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The growth rate in the first quarter of this financial year was just 6.1 per cent. Most economists had

predicted that the GDP growth rate would barely touch seven per cent. However, despite the increase in the

GDP growth rate, inflation seems to be at an all-time high. Food inflation, for instance, has shot up to 15.58

per cent.

Inflation triples, RBI may hike rates

AT 4.78 per cent, wholesale price index (WPI), one of the primary measures of price rise (inflation, in otherwords), became more than treble last month, thanks to sky-high prices of even common food items such

as potato (a rise by 141 per cent), sugar (37 per cent) and pulses (32 per cent). The alarming inflation might

force the central bank to squeeze money supply so that the soaring price rise may be checked. The bank

is due to address the issue in its annual credit policy in January next year. According to monthly inflation

data, the whole-sale price-based inflation had jumped to five per cent from a mere 1.34 per cent in October.

Food inflation had shot up by 19.04 per cent during November, which clocked the maximum increase in the

past one decade. One of the major reasons for the same is not only the poor monsoon performance but

also because the international raw material prices are rising, too. Amongst manufactured goods, the price

of textiles grew by 1.4 per cent, paper and paper products as well as chemical and chemical products by

0.1 per cent.

Corus to shut downTATA Steels European subsidiary will shut down some of its units that belong to the Teesside Cast

Products business by the end of January next year. According to the parent company, the reason for the

move is a breakdown in contract with an international consortium. The company had tried to secure its

future by seeking a long-term contract with the other party, which would have meant that the consortium

would have had to buy most of its production for the next 10 years. Since the talks fell through and the

contract broke, the company had to take such extreme measures. The shutdown will result in loss of jobsfor 1,700 people at the unit.

Maruti at stakeIT may impact Maruti or it may not. Japans Suzuki and Indian car maker Marutis parent announced that

it will sell about 20 per cent stake to Germanys Volkswagen for nearly Rs 11,500 crore. Half of that money

will then be used to buy shares in the German automaker.

Maruti Suzuki Ltd was impacted by the news and the shares of the company rose as much as 3.8 per

cent. Strategically, both VW and Suzuki could work on each others strengths that VW can gain mileagefrom Suzukis reach in south east Asia and Suzuki can gain access to the alternative power train technology

that they cant afford at this time. VW could also gain in the small-car space due to its association with

Suzuki. Both companies believe that it will help position them better in developing countries and in the

production of more efficient cars. Although the deal is subject to regulatory approval, VW expects to get a

go-ahead by January next year. The deal might also have a positive impact on the Indian Maruti Suzuki

since then it could even become a global hub for supplying small cars through VWs strong network.


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3G spectrum auctionTHE government has announced that the 3G spectrum available with it could accommodate only three

operators for now. The reason for this move is because the minister of defence is not warming up to the idea

of giving the designated air waves for commercial use.

This comes as a blow to several operators in the field and could also deprive the government of over Rs

5,000 crore in revenue. It is common news that the fourth slot has already been given to state-owned MTNL

and BSNL. The initial plan was to auction the spectrum to four private bidders as well as state-run firms.The government has quoted the reserve price of spectrum at Rs 3,500 crore for pan-India 3G spectrum and

Rs 1,750 crore for Wimax. The auction will begin from January 14 next year. The government had estimated

revenue of Rs 25,000 crore from the sale of spectrum but with limiting the number of players, it is sure to

fall short of the target. The loss in revenue could also come from the aggressive bids from bidders since

they are expected to offer more than the reserve price.

No more scooters from the Bajaj stableBAJAJ Auto, which changed the two-wheeler industry in India forever, with its sturdy scooters, will stop

manufacturing them by the end of this fiscal and focus on motorcycles exclusively. Back in the 1980s and

1990s, one was sure to find every scooter plying the road to be a Bajaj. Today the company sells just one

the 100-cc gearless Crystal. The reason the company gives for exiting the scooter market is waning

sales in the scooter market that refused to pick up despite a lot of marketing and awareness campaigns

from the company. The company today manufactures just 1,000 scooters a month, that too for exports.

The company now aims to be the largest motorcycle company in the world. The company has ramped up

its scooter manufacturing capacity to three million bikes a year and can double and even triple it when the

market demands it. The company is also launching distinct branding solutions for its three-wheeler segment.

At present the company sells bike brands such as Pulsar, Discovery, Avenger, Platina and XCD.

UID could aid financial inclusionTHE reserve Bank of India plans to call a meeting of bankers to discuss ways to give a boost to financialinclusion with the aid of the unique identification project. The meeting will be attended by chiefs of commercial

banks, who will give the status of initiatives that can be taken for financial inclusion, including issues such

as technological preparations and cost estimates. It may be noted that the UID Authority of India, which is

headed by Nandan Nilekani, is supposed to combine databases of multiple agencies for corroboration and

will issue numbers and not cards.

Bank chiefs will look at the issues that might face the UID project by accessing the data available with the

branch network. After all, bank branches have nationwide data. Their data will then be corroborated with

other multiple agencies. It may be noted that the UID number is not to give one guarantee rights but will

enhance access to services and enable direct benefit to poor. The unique number will also reduce frauds

that happen because of identity confusion and also strengthen security.

Whos in, whos out

Deepak Parekh, who served HDFC for 31 years will step down as the chairman and CEO of the bank on

January 1, 2010. Current Vice-Chairman and Managing Director K K Mistry will take over as vice-chairman

and CEO.


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Important Events of January 2010

Too little, too lateSEVENTEEN years after teenage sportsperson Ruchika Girhotra committed suicide on account of

harassment of her family at the hands of a Haryana Cadre IPS officer who had raped her in 1990, the

judiciary rubbed salt into the familys injury by handing SPS Rathore a mere six months of imprisonmentand a fine of Rs 1,000. Thankfully, under public pressure, as well as due to displeasure expressed in the

highest echelons (Home Minister P Chidambaram), the CBI has decided to reopen the case. Girhotra,

tennis player, had been raped by Rathore in 1990. During the next three years, Rathore used his power to

the fullest to harass the family, including implicating Ruchikas brother in a number of cases and having her

thrown out of school. He used his clout to win the machinery over to his side. Now faced with the prospect

of being stripped of his medals, he, through his wife and counsel Abha Rathore are crying hoarse that

Ruchikas family is trying to fight the case through media. Well, if officials like Rathore misuse their power

and make the Government machinery entirely unsupportive to a common person, what recourse does he

have except to take the fight to media?

Demise of a great communistJYOTI Basu, veteran Marxist leader and a tall figure in Indias political life passed away due to pneumonia

that led to multi-organ failure. He was born on July 8, 1914 and died at the age of 95. He was critical for 17

days before he breathed last in a private hospital in Kolkata.

He was the longest-serving Chief Minister of India. He became West Bengals CM in 1977 and after an

uninterrupted spell of 23 years, voluntarily left the office in 2000. He is known for the widespread land

reforms in his state which empowered the poorest of the poor. His legacy also includes accountable

governance, functioning panchayat institutions, and the creation of a stable atmosphere of communalharmony and secularism. In 1992, when the whole country was burning in communal riots after the Babri

Masjid demolition, it was only West Bengal which remained harmonious, chiefly due to his strict

administration. He was the last of the nine founding Polit Bureau members of the Communist Party of India

(Marxist) when a section broke from the Communist Party of India (CPI) in 1964.

Jyoti Basu came very close to becoming the PM of India in 1996 when the United Front formed government

at the centre. Basu personally was in agreement but denied the invitation as CPM decided otherwise.

Basu later called it a historic blunder.

The Prime Minister Manmohan Singh called him a great patriot. Bangladesh Prime Minister Sheikh Hasina

said that We recall with deep gratitude Mr Basus enormous support to our War of Liberation in 1971.

His body was handed over to a city hospital for medical research as per his wish. Tens of thousands of

people gathered to bid him adieu before his final journey took place through Kolkata streets.


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Longest solar eclipseMILLENNIUMS longest eclipse was visible in different parts of India on January 15. The 2010 solar eclipse

was the longest in this century. While the southern part could see it as an Annular eclipse rest of the

country saw it as a partial solar eclipse. The eclipse was at its peak in India at around 1.15 pm local time

in India.

Dhanushkodi town was the best place to see the eclipse and it lasted for 10 minutes. Indian SpaceResearch Organisation (ISRO) launched 10 rockets to study the eclipse over a period of two days. The

eclipse was to be seen by many Asian and African countries. The indigenous sounding rockets were

launched by the Vikram Sarabhi Space Centre and the Satish Dhawan Space Centre. The aim was to

gather significant data on atmospheric structure and dynamics at varying altitudes.

Party infightingSAMAJWADI party leader Amar Singhs resignation as general secretary of the party on health grounds

started a row of verbal spats. He denied that he was quitting the posts because of differences with Mulayam

Singh. Amar Singh, who had attacked Mulayam Singh for the partys humiliating defeat in the Lok Sabha

by-election in Firozabad last November, however, maintained that he was grateful to the party chief for the

opportunities given to him and would never speak a word against him. Mulayam Singh, who initially did not

accept Amar Singhs resignation has finally accepted it.

A verbal war ensued between Amar Singh and Ram Gopal Yadav party general secretary after Amar Singh

claimed that Yadav apologised for hurting him while Mulayam Singh had invited him to attend the Saifai

mahotsav in his hometown. The latter denied having issued an apology and alleged that Amar Singh had

lost his mental balance, following which Amar Singh decided to boycott the Saifai Mahotsav.

Rulings and indictmentNEWS of rulings by a bench of the Delhi High Court regarding declaration of assets by the Chief Justice

has been doing the rounds with the Delhi High Court upholding its single bench order that the that the office

of the Chief Justice of India (CJI) is a public authority that comes under the ambit of the Right to Information

(RTI) Act. The judges of superior courts should make public their assets as they were not less accountable

than the judicial officers of lower courts who were bound by service rules to declare assets. In another

controversial case the army chiefs aide Lt Gen Awadesh Prakash, the current military secretary, has been

found guilty by a court of inquiry of using his position to influence a no-objection certificate given by the

chief of the 33 Corps in Sukhna, Lt Gen PK Rath, to a private realtor. The army court has indicted the two

officers for their role in issuing a no-objection certificate to a private establishment that falsely claimed tobe setting up an affiliate of the well-known Ajmer-based Mayo College on a plot adjacent to the Sukhna

military station in Darjeeling district.


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Movie maniaWHILE James Camerons Avataris sweeping awards and breaking records, our very own desi flick 3 Idiots

is not short of creating history in the Indian cinema. Talks about the two movies are still doing the rounds

months after its release. Avatarcontinues to lead the US box office with an estimated US$ 41.3 million,

according to figures released by Box Office Mojo. Speculations are rife that Rajkumar Hiranis 3 Idiotswill

break records of Sholayan all-time top grosser of Indian cinema. 3 Idiotshas been a stunning success

earning business of Rs 315 crore in 18 days, according to Trade Guide editor Taran Adarsh, making it a

bigger film than recent hits like Ghajini. Trade analyst Vinod Mirani agrees and says that 3 Idiotsis the

biggest hit of the decade and by default that of this century, as reported in the Times of India.

Late realisationTHE HRD ministry, admitting irregularities in granting deemed status to educational institutes during the

stint of former HRD minister Arjun Singh, has decided to de-recognise 44 deemed universities. To ensure

that the lakhs of students in these universities do not suffer, the ministry is directing these institutes that

they get affiliated to recognised universities of respective states, so that students can complete the course.

If the university being de-recognised does not get affiliation, the process of migration of students will then

have to ensue. Among the universities being de-recognised are also some government ones, like NationalMuseum Institute of the History of Art, Conservation and Museology, New Delhi.

Haiti hit by quakeAdevastating earthquake, measuring 7.00 in Richter Scale, flattened large swathes of settlements, including

the National Palace and the UN Headquarters. The casualty figure could be as high as five lakh. A large

number of casualties occurred either because the tin houses fell off into the ravines, along which they are

built, or because of fires. The international community pledged all support to the aggrieved nation and the

US instantly sent rescue teams, relief material and food. The countrymen, as well as relief teams, are

reckoning with total lack of water, electricity and basic provisions.

Explosive device in US bound planeA 23-year-old Nigerian was arrested after he was found guilty of attempting to ignite an explosive device on

a US bound plane. Umar Farouk Abdulmutallab who has been charged of the crime has pleaded guilty.

Abdulmutallab who has been found to have links with terrorist outfit Al-Qaeda was onboard a Northwest

Airlines flight from Amsterdam to Detroit on Christmas Day in December 2009. The US court has charged

him on six counts including attempted murder of the 300 people onboard for trying to light an explosive

device. Abdulmutallab who was overpowered by the passengers in the plane can face life in prison if he is

found guilty.

Hockey strikersIN a fresh round of crisis, the Indian hockey team went for a strike, weeks ahead of the World Cup to be

hosted by India. The Hockey World Cup will be held in New Delhi from February 28 to March 13. The tussle

between the players and officials has been going on over pay and conditions. The team says the pay given

to the hockey players is peanuts and thus the boycott. They demand a graded system of payment,

insurance cover and improved incentives. Indian hockey team failed to qualify for the 2008 Beijing Olympics.


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New feather on Sachins capINDIAS master blaster Sachin Tendulkar notched up his 44th test century at the match against Bangladesh

helping India to reach 243 mark in 70.5 overs in the first Test at the Zohur Ahmed Chowdhury stadium.

Sachin reached his 100 with successive fours and was undefeated on 105 when India was all out for 243.

Thanks to pacers who got back the Indian side into the match by squeezing Bangladesh to 59/3 on the

second day of the first cricket Test in Chittagong amid weather woes.

Bindras woesINDIAS ace shooting star Abhinav Bindras frustration with the National Rifle Association of India (NRAI),

the apex body for shooting sport in India, is out in the media. The buzz doing the rounds is that Bindra is

thinking of quitting the game. However, Suresh Kalmadi, chief of Indian Olympic Association (IOA) has

stepped in saying that NRAI which falls within the ambit of IOA has agreed not to press Bindra for trials and

that he can participate in the Fourth World Cup at Belgrade that is scheduled from June 26 to July 4. Bindra

needs to be present for regular trials before NRAI based on which the World Cup entry can be made.

Ranji royalsTHEY were the predictable winners of the Ranji Trophy championship the Mumbai team that reasserted

its mettle as players. It was an incredible six run win over Karnataka. Mumbai lifted the coveted trophy forthe 39th time. Karnataka managed to score 331 runs, an unfortunate defeat of six runs as Mumbai made

338. Karnataka was 225/3 at one point but Mumbai came right back with an unbelievable confidence. The

match venue was Mysore. Mumbai took home Rs two crore and Karnataka took back half the amount.

Cool cars, hot wheelsJANUARY 5 to January 11 saw Delhis Pragati Maidan hold the biennial Auto Expo, the auto show organised

by Automotive Component Manufacturers Association of India, the Confederation of Indian Industry and the

Society of Indian Automobile Manufacturers. Playing host to as many as 2,100 participants, the Auto Expo

saw a participation from 25 countries and had as many as 1.8 million visitors, and over 1,50,000 business

visitors. The Expo saw participation from a host of companies from the auto sector from vehicle, componentand accessory makers, to IT for auto industry, oil and lubricants, leasing and finance companies, CNG

units to coach builders and design. New launches included BMWs XI, an all-new Honda City, Toyota

Etios, Tata Venture, Mercedes Benz G Class, Marutis RIII, the all-new Maruti SX4 Hybrid, Maruti Kizashi,

Volkswagens Polo and Skodas Yeti. Among two-wheelers, the Expo saw Honda Motorcycle launch six

new models. The bulk of these were for mass production and included a 102 cc scooter called Dio and two

bikes called Twister (110 cc) and Stunner (125 cc). There was also an emphasis on green energy and a

solar car designed by the students of Delhi Universitys Netaji Subhash Institute of Technology was one of

the biggest draws.

Too hot to handleAFTER having agreed to comply with the Chinese governments instructions to censor some of its content

last year, Google Inc is contemplating pulling out of China over the same censorship and cyber attacks.

Not only will it leave the Chinese bereft of the worlds number one search engine, the news may not be too

good for the company either. After all, China is the worlds largest internet market, with more than 360

million users. Also, it is highly unlikely that the Chinese government will allow the company to operate an

unfiltered search engine.


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The other way out for Google would be to follow in the footsteps of other internet companies such as

Yahoo. In 2005, Yahoo Inc handed over exclusive rights to Yahoo China: and turned its mail, messaging

and other services into the Alibaba Group, in a $1 billion stake. The move had given Yahoo a 40 per cent

stake in Alibaba. According to statistics, Google controls over 31.3 per cent of the Chinese search market.

The annual revenue from search in the country is estimated to be more than $1 billion. At the same time,

revenues from the Chinese market are miniscule for the companys estimated annual revenue of $22 billion

two years ago.

The other reason that the company is threatening to bid adieu to the Chinese market is that it stumbled

upon a sophisticated cyber attack on the email accounts of human rights activists. The company, however,

was not forthcoming on whether the government was involved in the same.

Mobile tower takeoverINDIAS GTL Infrastructure, the countrys largest independent tower operator, is all set to take over the

tower assets of Malaysian-controlled Indian mobile phone operator, Aircel, a unit of Malaysias Maxis

Communications. Maxis holds 74 per cent share in Aircel. The move will mark consolidation in the countrys

vast cellular tower sector. GTL will have to shell out Rs 84 billion for as many as 17,500 towers with rights

to 20,000 more for Aircel. In a Bombay Stock Exchange announcement, the company representative

revealed that the transaction will open up a revenue opportunity of anything from Rs 85 billion to Rs 170

billion over a period of the next five years. GTL outbid Tata-Quippo in the negotiations. It is to be remembered

that investor interest in Indias telecom sector is on the decline due to intense competition, which makes

future profitability not a very pretty picture. Moreover, the tariff war has led to downgradation of stocks,

which have been the worst performers this year. Companies such as Bharti Infratel and Reliance Infratel,

which own signal towers of mobile behemoths Bharti and reliance, respectively, had sold stakes in those

firms at astronomical valuations; very few are eager to pay that kind of valuations now.

Surging industrial growth

INDIAS factory output grew by 11.7 per cent in November last year, thanks to domestic demand andgovernment spending. This was the 11th consecutive month of industrial expansion in Asias third-largest

economy. The data comes as a positive sign, as the government prepares the next financial budget. One

of the possible reasons for the same may have been due to the inventory build-up after the October holiday

season, which may have increased consumer goods production.

This was the highest growth in the past two years and also raises prospects of a sustained revival in the

economy in the coming months. It has to be noted that manufacturing accounts for 80 per cent of the

overall industrial output and grew by 12.7 per cent. The real success story, however, was in the consumer

durables sector that grew by 37.3 per cent; the record growth rate indicates consumer growth increasing in

the domestic market. But for some economists, it may not be such good news, since robust consumptionmay fuel non-food inflation and sustained industrial growth may put pressure on the central bank, the

Reserve Bank of India, to tighten liquidity and raise interest rates. This could, in turn, cool Indias economic

revival.


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A la TughlaqIT may not have worked for Mohd Bin Tughlaq, but Venezuela hopes to pull it off. The country plans to start

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