1. Sergio Mattarella elected as President of Italy
Italy’s parliament has elected constitutional court judge Sergio Mattarella as the country’s president.
He will Italy’s 12th president and succeed Giorgio Napolitano who had resigned earlier in January 2015 citing reason of poor health before his 2020 expiry term.
President of Italy: His role is mainly ceremonial but can declare legislation unconstitutional. He also has the power to dissolve parliament, nominate prime ministers and call early elections. He has tenure of 7 years.
Italy’s parliament has elected constitutional court judge Sergio Mattarella as the country’s president.
He will Italy’s 12th president and succeed Giorgio Napolitano who had resigned earlier in January 2015 citing reason of poor health before his 2020 expiry term.
President of Italy: His role is mainly ceremonial but can declare legislation unconstitutional. He also has the power to dissolve parliament, nominate prime ministers and call early elections. He has tenure of 7 years.
2.Base year change pushes 2013-14 GDP growth to 6.9%
The Modi Government, sharply revised India’s 2013-14 GDP growth estimate to 6.9 per cent from 4.7 per cent. The 2012-13 growth estimate was revised to 5.1 per cent from 4.5 per cent.
Former Finance Minister and Congress leader P. Chidambaram said that the data released showed that the 10 years of the UPA government recorded the highest decadal growth since Independence. “The data released today and the other economic indicators conclusively establish that the UPA government succeeded in substantial measure on fiscal consolidation, containing the current account deficit, moderating inflation and putting the economy back on the growth path… It should put an end, once and for all time, to the misconceived charge that the UPA government had mismanaged the economy.”
GDP data for a fiscal undergoes three rounds of revisions; the process takes three years. The Central Statistics Office (CSO) releases the second Revised Estimate for a financial year ending in March on the subsequent January 30.
The estimates released also follow a change in the base year for calculating national accounts to 2011-12 from 2004-05 in addition to the routine annual revision — where changes are made only on the basis of updated data becoming available.
The base year was last revised in January, 2010.
In case of base year revisions, apart from a shift in the reference year for measuring the real growth, conceptual changes, as recommended by the international guidelines, are incorporated, the official release said.
The changes have reduced the gap between the way India calculates GDP and the methodology used by the International Monetary Fund.
The Modi Government, sharply revised India’s 2013-14 GDP growth estimate to 6.9 per cent from 4.7 per cent. The 2012-13 growth estimate was revised to 5.1 per cent from 4.5 per cent.
Former Finance Minister and Congress leader P. Chidambaram said that the data released showed that the 10 years of the UPA government recorded the highest decadal growth since Independence. “The data released today and the other economic indicators conclusively establish that the UPA government succeeded in substantial measure on fiscal consolidation, containing the current account deficit, moderating inflation and putting the economy back on the growth path… It should put an end, once and for all time, to the misconceived charge that the UPA government had mismanaged the economy.”
GDP data for a fiscal undergoes three rounds of revisions; the process takes three years. The Central Statistics Office (CSO) releases the second Revised Estimate for a financial year ending in March on the subsequent January 30.
The estimates released also follow a change in the base year for calculating national accounts to 2011-12 from 2004-05 in addition to the routine annual revision — where changes are made only on the basis of updated data becoming available.
The base year was last revised in January, 2010.
In case of base year revisions, apart from a shift in the reference year for measuring the real growth, conceptual changes, as recommended by the international guidelines, are incorporated, the official release said.
The changes have reduced the gap between the way India calculates GDP and the methodology used by the International Monetary Fund.
3. Union Government approved a rehabilitation package of 1102-crore rupees for J&K
The Union Government approved a rehabilitation package of 1102.56 crore rupees for the State of Jammu and Kashmir (J&K). The fund was approved in view of devastating flood of September 2014.
The fund has been sanctioned from the National Disaster Response Fund (NDRF) and it will be used for rehabilitation of flood victims and for restoration of public infrastructure in the State.
Besides, for restoration of drinking water systems in the State, an additional fund of 20 crore rupees was also approved under the National Rural Drinking Water Programme (NRDWP).
The Union Government approved a rehabilitation package of 1102.56 crore rupees for the State of Jammu and Kashmir (J&K). The fund was approved in view of devastating flood of September 2014.
The fund has been sanctioned from the National Disaster Response Fund (NDRF) and it will be used for rehabilitation of flood victims and for restoration of public infrastructure in the State.
Besides, for restoration of drinking water systems in the State, an additional fund of 20 crore rupees was also approved under the National Rural Drinking Water Programme (NRDWP).
4. NASA launches Earth-observing satellite
A Delta 2 rocket carrying Soil Moisture Active Passive (SMAP) satellite was launched early Saturday from Vandenberg Air Force Base on California’s central coast.
The satellite is on a three-year mission to track the amount of water locked in soil, which may help residents in low-lying regions brace for floods or farmers get ready for drought conditions.
Currently, drought maps and flash flood guidance issued by the federal government are based on computer modeling. SMAP will take real-time measurements that can be incorporated into forecasts, said Dara Entekhabi, mission science team leader from the Massachusetts Institute of Technology.
Besides the satellite, the rocket also carried three research nanosatellites for JPL, Montana State University and California Polytechnic State University. More than 100 university students took part in designing and building the tiny satellites known as CubeSats.
A Delta 2 rocket carrying Soil Moisture Active Passive (SMAP) satellite was launched early Saturday from Vandenberg Air Force Base on California’s central coast.
The satellite is on a three-year mission to track the amount of water locked in soil, which may help residents in low-lying regions brace for floods or farmers get ready for drought conditions.
Currently, drought maps and flash flood guidance issued by the federal government are based on computer modeling. SMAP will take real-time measurements that can be incorporated into forecasts, said Dara Entekhabi, mission science team leader from the Massachusetts Institute of Technology.
Besides the satellite, the rocket also carried three research nanosatellites for JPL, Montana State University and California Polytechnic State University. More than 100 university students took part in designing and building the tiny satellites known as CubeSats.
5. Paes-Hingis win Australian Open mixed-doubles title
India's Leander Paes and Swiss Martina Hingis turned back the clock to
India's Leander Paes and Swiss Martina Hingis turned back the clock to
post a sensational win in the Australian Open mixed-doubles final and improve their respective Grand Slam count to 15, in Melbourne on Sunday.
The seventh seed Indo-Swiss pair played powerful tennis to serve past third seeds Daniel Nestor and Kristina Mladenovic 6-4, 6-3 in the 62-minute battle at the Rod Laver Arena.
While the 41-year-old Paes clinched his seventh mixed doubles crown, Hingis, who came out of retirement for the second time a couple of years back, collected her tenth doubles Slam apart from her five singles titles.
Paes and Hingis broke the Canadian-French pair of Nestor and Kristina once in the first set and twice in the second to put up an entertaining display.
Paes, a veteran doubles specialist, joined forces with the 34-year-old Hingis last year only to come up with a Slam title in quick time.
The seventh seed Indo-Swiss pair played powerful tennis to serve past third seeds Daniel Nestor and Kristina Mladenovic 6-4, 6-3 in the 62-minute battle at the Rod Laver Arena.
While the 41-year-old Paes clinched his seventh mixed doubles crown, Hingis, who came out of retirement for the second time a couple of years back, collected her tenth doubles Slam apart from her five singles titles.
Paes and Hingis broke the Canadian-French pair of Nestor and Kristina once in the first set and twice in the second to put up an entertaining display.
Paes, a veteran doubles specialist, joined forces with the 34-year-old Hingis last year only to come up with a Slam title in quick time.
6. Union Government releases Commemorative Postage Stamps on Swachh Bharat Mission
Union Government has released set of three Commemorative Postage Stamps on Swachh Bharat Mission (Clean India Mission).
This set of 3 stamps was released by Union Ministry for Communications & Information Technology and issued by Department of Posts.
These stamps were released to in order to achieve the vision of Clean and Healthy India.
Department of Posts has selected the design for the stamps through a competition among the children on the theme of Swachh Bharat Mission.
Union Government has released set of three Commemorative Postage Stamps on Swachh Bharat Mission (Clean India Mission).
This set of 3 stamps was released by Union Ministry for Communications & Information Technology and issued by Department of Posts.
These stamps were released to in order to achieve the vision of Clean and Healthy India.
Department of Posts has selected the design for the stamps through a competition among the children on the theme of Swachh Bharat Mission.
7. SBI mulls composite agents to sell various products
State Bank of India (SBI) plans to convert all the agents of its various subsidiaries as composite agents under which they will be able to sell various financial products.
Currently, these agents distribute only their respective companies on an exclusive basis.
Under the plan, the SBI Group would now provide them with business leads on requests from their clients for availing themselves of the product offerings from associate companies in mutual funds, life insurance, credit cards, general insurance, and home and auto loans, according to SBI sources.
The initiative has just been piloted by SBI Caps Securities (SSL), and arm of the bank’s merchant banking subsidiary SBI Caps, which has created a common distribution network called the Universal Distribution Network (UDN).
“The soft launch of the initiative, which works on lead management system, has already been done and we are planning to go for its formal launch by April. Moreover, we have got all the regulatory approvals in place,” SBI Caps Securities’ senior vice-president Arunangshu Paul told PTI here.
The SBI Group has currently 1 lakh agents on its fold. However, it is targeting only 20,000 active agents for the initiative.
“We are targeting only 20,000 agents to begin with, who will be imparted training by us to sell group various products through referral business and we are targeting to collect Rs 80 crore through this initiative in very first year,” he added.
State Bank of India (SBI) plans to convert all the agents of its various subsidiaries as composite agents under which they will be able to sell various financial products.
Currently, these agents distribute only their respective companies on an exclusive basis.
Under the plan, the SBI Group would now provide them with business leads on requests from their clients for availing themselves of the product offerings from associate companies in mutual funds, life insurance, credit cards, general insurance, and home and auto loans, according to SBI sources.
The initiative has just been piloted by SBI Caps Securities (SSL), and arm of the bank’s merchant banking subsidiary SBI Caps, which has created a common distribution network called the Universal Distribution Network (UDN).
“The soft launch of the initiative, which works on lead management system, has already been done and we are planning to go for its formal launch by April. Moreover, we have got all the regulatory approvals in place,” SBI Caps Securities’ senior vice-president Arunangshu Paul told PTI here.
The SBI Group has currently 1 lakh agents on its fold. However, it is targeting only 20,000 active agents for the initiative.
“We are targeting only 20,000 agents to begin with, who will be imparted training by us to sell group various products through referral business and we are targeting to collect Rs 80 crore through this initiative in very first year,” he added.
8. SIT likely to reinvestigate 1984 anti-Sikh riots cases
A government-appointed committee has recommended constitution of a SIT for reinvestigation of the 1984 anti-Sikh riot cases.
The committee headed by former Supreme Court Judge Justice (retd.) G.P. Mathur has submitted its report to Home Minister Rajnath Singh last week and recommended fresh probe of the anti-Sikh riots cases through a Special Investigation Team, official sources said.
An order to this effect is likely after the February 7, 2015 Delhi Assembly polls as the Model Code of Conduct is in place in the national capital now, the sources said.
The anti-Sikh riots were triggered after former Prime Minister Indira Gandhi was assassinated by on October 31, 1984.
Of the 3,325 victims, 2,733 were killed in Delhi alone while the rest were from Uttar Pradesh, Haryana, Madhya Pradesh, Maharashtra and other States.
A government-appointed committee has recommended constitution of a SIT for reinvestigation of the 1984 anti-Sikh riot cases.
The committee headed by former Supreme Court Judge Justice (retd.) G.P. Mathur has submitted its report to Home Minister Rajnath Singh last week and recommended fresh probe of the anti-Sikh riots cases through a Special Investigation Team, official sources said.
An order to this effect is likely after the February 7, 2015 Delhi Assembly polls as the Model Code of Conduct is in place in the national capital now, the sources said.
The anti-Sikh riots were triggered after former Prime Minister Indira Gandhi was assassinated by on October 31, 1984.
Of the 3,325 victims, 2,733 were killed in Delhi alone while the rest were from Uttar Pradesh, Haryana, Madhya Pradesh, Maharashtra and other States.
1. Sergio Mattarella elected as President of Italy
Italy’s parliament has elected constitutional court judge Sergio Mattarella as the country’s president.
He will Italy’s 12th president and succeed Giorgio Napolitano who had resigned earlier in January 2015 citing reason of poor health before his 2020 expiry term.
President of Italy: His role is mainly ceremonial but can declare legislation unconstitutional. He also has the power to dissolve parliament, nominate prime ministers and call early elections. He has tenure of 7 years.
Italy’s parliament has elected constitutional court judge Sergio Mattarella as the country’s president.
He will Italy’s 12th president and succeed Giorgio Napolitano who had resigned earlier in January 2015 citing reason of poor health before his 2020 expiry term.
President of Italy: His role is mainly ceremonial but can declare legislation unconstitutional. He also has the power to dissolve parliament, nominate prime ministers and call early elections. He has tenure of 7 years.
2.Base year change pushes 2013-14 GDP growth to 6.9%
The Modi Government, sharply revised India’s 2013-14 GDP growth estimate to 6.9 per cent from 4.7 per cent. The 2012-13 growth estimate was revised to 5.1 per cent from 4.5 per cent.
Former Finance Minister and Congress leader P. Chidambaram said that the data released showed that the 10 years of the UPA government recorded the highest decadal growth since Independence. “The data released today and the other economic indicators conclusively establish that the UPA government succeeded in substantial measure on fiscal consolidation, containing the current account deficit, moderating inflation and putting the economy back on the growth path… It should put an end, once and for all time, to the misconceived charge that the UPA government had mismanaged the economy.”
GDP data for a fiscal undergoes three rounds of revisions; the process takes three years. The Central Statistics Office (CSO) releases the second Revised Estimate for a financial year ending in March on the subsequent January 30.
The estimates released also follow a change in the base year for calculating national accounts to 2011-12 from 2004-05 in addition to the routine annual revision — where changes are made only on the basis of updated data becoming available.
The base year was last revised in January, 2010.
In case of base year revisions, apart from a shift in the reference year for measuring the real growth, conceptual changes, as recommended by the international guidelines, are incorporated, the official release said.
The changes have reduced the gap between the way India calculates GDP and the methodology used by the International Monetary Fund.
The Modi Government, sharply revised India’s 2013-14 GDP growth estimate to 6.9 per cent from 4.7 per cent. The 2012-13 growth estimate was revised to 5.1 per cent from 4.5 per cent.
Former Finance Minister and Congress leader P. Chidambaram said that the data released showed that the 10 years of the UPA government recorded the highest decadal growth since Independence. “The data released today and the other economic indicators conclusively establish that the UPA government succeeded in substantial measure on fiscal consolidation, containing the current account deficit, moderating inflation and putting the economy back on the growth path… It should put an end, once and for all time, to the misconceived charge that the UPA government had mismanaged the economy.”
GDP data for a fiscal undergoes three rounds of revisions; the process takes three years. The Central Statistics Office (CSO) releases the second Revised Estimate for a financial year ending in March on the subsequent January 30.
The estimates released also follow a change in the base year for calculating national accounts to 2011-12 from 2004-05 in addition to the routine annual revision — where changes are made only on the basis of updated data becoming available.
The base year was last revised in January, 2010.
In case of base year revisions, apart from a shift in the reference year for measuring the real growth, conceptual changes, as recommended by the international guidelines, are incorporated, the official release said.
The changes have reduced the gap between the way India calculates GDP and the methodology used by the International Monetary Fund.
3. Union Government approved a rehabilitation package of 1102-crore rupees for J&K
The Union Government approved a rehabilitation package of 1102.56 crore rupees for the State of Jammu and Kashmir (J&K). The fund was approved in view of devastating flood of September 2014.
The fund has been sanctioned from the National Disaster Response Fund (NDRF) and it will be used for rehabilitation of flood victims and for restoration of public infrastructure in the State.
Besides, for restoration of drinking water systems in the State, an additional fund of 20 crore rupees was also approved under the National Rural Drinking Water Programme (NRDWP).
The Union Government approved a rehabilitation package of 1102.56 crore rupees for the State of Jammu and Kashmir (J&K). The fund was approved in view of devastating flood of September 2014.
The fund has been sanctioned from the National Disaster Response Fund (NDRF) and it will be used for rehabilitation of flood victims and for restoration of public infrastructure in the State.
Besides, for restoration of drinking water systems in the State, an additional fund of 20 crore rupees was also approved under the National Rural Drinking Water Programme (NRDWP).
4. NASA launches Earth-observing satellite
A Delta 2 rocket carrying Soil Moisture Active Passive (SMAP) satellite was launched early Saturday from Vandenberg Air Force Base on California’s central coast.
The satellite is on a three-year mission to track the amount of water locked in soil, which may help residents in low-lying regions brace for floods or farmers get ready for drought conditions.
Currently, drought maps and flash flood guidance issued by the federal government are based on computer modeling. SMAP will take real-time measurements that can be incorporated into forecasts, said Dara Entekhabi, mission science team leader from the Massachusetts Institute of Technology.
Besides the satellite, the rocket also carried three research nanosatellites for JPL, Montana State University and California Polytechnic State University. More than 100 university students took part in designing and building the tiny satellites known as CubeSats.
A Delta 2 rocket carrying Soil Moisture Active Passive (SMAP) satellite was launched early Saturday from Vandenberg Air Force Base on California’s central coast.
The satellite is on a three-year mission to track the amount of water locked in soil, which may help residents in low-lying regions brace for floods or farmers get ready for drought conditions.
Currently, drought maps and flash flood guidance issued by the federal government are based on computer modeling. SMAP will take real-time measurements that can be incorporated into forecasts, said Dara Entekhabi, mission science team leader from the Massachusetts Institute of Technology.
Besides the satellite, the rocket also carried three research nanosatellites for JPL, Montana State University and California Polytechnic State University. More than 100 university students took part in designing and building the tiny satellites known as CubeSats.
5. Paes-Hingis win Australian Open mixed-doubles title
India's Leander Paes and Swiss Martina Hingis turned back the clock to
India's Leander Paes and Swiss Martina Hingis turned back the clock to
post a sensational win in the Australian Open mixed-doubles final and improve their respective Grand Slam count to 15, in Melbourne on Sunday.
The seventh seed Indo-Swiss pair played powerful tennis to serve past third seeds Daniel Nestor and Kristina Mladenovic 6-4, 6-3 in the 62-minute battle at the Rod Laver Arena.
While the 41-year-old Paes clinched his seventh mixed doubles crown, Hingis, who came out of retirement for the second time a couple of years back, collected her tenth doubles Slam apart from her five singles titles.
Paes and Hingis broke the Canadian-French pair of Nestor and Kristina once in the first set and twice in the second to put up an entertaining display.
Paes, a veteran doubles specialist, joined forces with the 34-year-old Hingis last year only to come up with a Slam title in quick time.
The seventh seed Indo-Swiss pair played powerful tennis to serve past third seeds Daniel Nestor and Kristina Mladenovic 6-4, 6-3 in the 62-minute battle at the Rod Laver Arena.
While the 41-year-old Paes clinched his seventh mixed doubles crown, Hingis, who came out of retirement for the second time a couple of years back, collected her tenth doubles Slam apart from her five singles titles.
Paes and Hingis broke the Canadian-French pair of Nestor and Kristina once in the first set and twice in the second to put up an entertaining display.
Paes, a veteran doubles specialist, joined forces with the 34-year-old Hingis last year only to come up with a Slam title in quick time.
6. Union Government releases Commemorative Postage Stamps on Swachh Bharat Mission
Union Government has released set of three Commemorative Postage Stamps on Swachh Bharat Mission (Clean India Mission).
This set of 3 stamps was released by Union Ministry for Communications & Information Technology and issued by Department of Posts.
These stamps were released to in order to achieve the vision of Clean and Healthy India.
Department of Posts has selected the design for the stamps through a competition among the children on the theme of Swachh Bharat Mission.
Union Government has released set of three Commemorative Postage Stamps on Swachh Bharat Mission (Clean India Mission).
This set of 3 stamps was released by Union Ministry for Communications & Information Technology and issued by Department of Posts.
These stamps were released to in order to achieve the vision of Clean and Healthy India.
Department of Posts has selected the design for the stamps through a competition among the children on the theme of Swachh Bharat Mission.
7. SBI mulls composite agents to sell various products
State Bank of India (SBI) plans to convert all the agents of its various subsidiaries as composite agents under which they will be able to sell various financial products.
Currently, these agents distribute only their respective companies on an exclusive basis.
Under the plan, the SBI Group would now provide them with business leads on requests from their clients for availing themselves of the product offerings from associate companies in mutual funds, life insurance, credit cards, general insurance, and home and auto loans, according to SBI sources.
The initiative has just been piloted by SBI Caps Securities (SSL), and arm of the bank’s merchant banking subsidiary SBI Caps, which has created a common distribution network called the Universal Distribution Network (UDN).
“The soft launch of the initiative, which works on lead management system, has already been done and we are planning to go for its formal launch by April. Moreover, we have got all the regulatory approvals in place,” SBI Caps Securities’ senior vice-president Arunangshu Paul told PTI here.
The SBI Group has currently 1 lakh agents on its fold. However, it is targeting only 20,000 active agents for the initiative.
“We are targeting only 20,000 agents to begin with, who will be imparted training by us to sell group various products through referral business and we are targeting to collect Rs 80 crore through this initiative in very first year,” he added.
State Bank of India (SBI) plans to convert all the agents of its various subsidiaries as composite agents under which they will be able to sell various financial products.
Currently, these agents distribute only their respective companies on an exclusive basis.
Under the plan, the SBI Group would now provide them with business leads on requests from their clients for availing themselves of the product offerings from associate companies in mutual funds, life insurance, credit cards, general insurance, and home and auto loans, according to SBI sources.
The initiative has just been piloted by SBI Caps Securities (SSL), and arm of the bank’s merchant banking subsidiary SBI Caps, which has created a common distribution network called the Universal Distribution Network (UDN).
“The soft launch of the initiative, which works on lead management system, has already been done and we are planning to go for its formal launch by April. Moreover, we have got all the regulatory approvals in place,” SBI Caps Securities’ senior vice-president Arunangshu Paul told PTI here.
The SBI Group has currently 1 lakh agents on its fold. However, it is targeting only 20,000 active agents for the initiative.
“We are targeting only 20,000 agents to begin with, who will be imparted training by us to sell group various products through referral business and we are targeting to collect Rs 80 crore through this initiative in very first year,” he added.
8. SIT likely to reinvestigate 1984 anti-Sikh riots cases
A government-appointed committee has recommended constitution of a SIT for reinvestigation of the 1984 anti-Sikh riot cases.
The committee headed by former Supreme Court Judge Justice (retd.) G.P. Mathur has submitted its report to Home Minister Rajnath Singh last week and recommended fresh probe of the anti-Sikh riots cases through a Special Investigation Team, official sources said.
An order to this effect is likely after the February 7, 2015 Delhi Assembly polls as the Model Code of Conduct is in place in the national capital now, the sources said.
The anti-Sikh riots were triggered after former Prime Minister Indira Gandhi was assassinated by on October 31, 1984.
Of the 3,325 victims, 2,733 were killed in Delhi alone while the rest were from Uttar Pradesh, Haryana, Madhya Pradesh, Maharashtra and other States.
A government-appointed committee has recommended constitution of a SIT for reinvestigation of the 1984 anti-Sikh riot cases.
The committee headed by former Supreme Court Judge Justice (retd.) G.P. Mathur has submitted its report to Home Minister Rajnath Singh last week and recommended fresh probe of the anti-Sikh riots cases through a Special Investigation Team, official sources said.
An order to this effect is likely after the February 7, 2015 Delhi Assembly polls as the Model Code of Conduct is in place in the national capital now, the sources said.
The anti-Sikh riots were triggered after former Prime Minister Indira Gandhi was assassinated by on October 31, 1984.
Of the 3,325 victims, 2,733 were killed in Delhi alone while the rest were from Uttar Pradesh, Haryana, Madhya Pradesh, Maharashtra and other States.
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