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Daily News Analysis 13-12-2014








US upset at India-Russia deals (Page 7)

a)     I.R

a)     India – Russia relations

b)     Ukraine crisis

a)     A day after Russian President Putins visit, the US criticised India for the agreements signed between New Delhi and Moscow.

b)     Responding to a question on the 20 agreements signed (including one on the Rupee-Rouble trade), US official said our view remains that its not time for business as usual with Russia.

c)     The US and Ukraine have also expressed unhappiness that Putin was accompanied by the Crimean Premier.

d)     He is on the sanctions list of the US, Canada and EU for his role in the accession of the former Ukrainian region to Russia in March this year.

e)     While the US state department said it was troubled by his presence in New Delhi, Ukranian President accused India of putting money ahead of values and civilisation. 


Testing times for India-Russia ties (Page 8)

a)     I.R

a)     India – Russia relations

b)     Diamond trade

c)     Nuclear reactor agreements

d)     Indias liability laws

d)     Russia-Pakistan framework agreement

a)     With 20 agreements worth billions of dollars signed in one day, Russian President Putins visit to India was a productive one.

b)     The deals touched most of the fields India and Russia cooperate on from oil, energy and infrastructure to military training, even as the two countries set a bilateral trade target of $30 billion between them by the year 2025.

c)     The opening of Indias rough-diamond procurement policy by PM Modi will mean Mumbai can dream of becoming a worldwide hub for the industry.

d)     Putins offer of 12 nuclear reactors is the clearest and most welcome indicator yet that Russia does not share the concerns of other suppliers about Indias liability laws.

e)     Russia has watched with displeasure as India has diversified its military imports especially when it comes to helicopter and aircraft purchases.

f)     The countrys displeasure clear when the Russian official demanded India treat Russia as an old partner, calling the decision to buy fighter aircraft and missiles from France, US and Israel illogical and unfair.

g)     For its part, India was outraged by the Russian decision to lift its ban on defence sales to Pakistan, and the first-ever Russia-Pakistan framework agreement that was finalised last month.

h)     Given that India still maintains about 70 percent of its defence inventory from Russian hardware and is one of Russias biggest buyers, the unhappiness on both sides may not change the equations of dependence between them but it must be addressed.

i)     It is important for New Delhi and Moscow to reassure each other in spheres other than the commercial ones of defence, energy and trade.

j)     Given Russias growing isolation from the West and Indias growing closeness to the US, their relationship is bound to be challenged in many ways.


Talk, or the whole region will suffer (Page 10)

a)     I.R

a)     India – Pakistan disputes

b)     SAARC

c)     Pakistan-India Parliamentary Dialogue

d)     Kashmir issue

a)     According to the Member of Pakistans National Assembly, there is a negative view of PM Modi in Pakistan.

b)     He said what else can we expect when Pak PM is speaking at SAARC and the Indian PM is looking at a notice.

c)     He is leading a 12-member Pakistani Parliamentary delegation to India for the sixth round of Pakistan-India Parliamentary Dialogue (an initiative by the Pakistan Institute of Legislative Development and Transparency) being held.

d)     We have a strong desire for improving relations and peace but talks are not a concession from Pakistan.

e)     He said he was surprised that Modis no-talks stance had found resonance among the articulate section of the Indian society.

f)     He felt there was a degradation in relations between the two countries since Modi came to power.


India need not be insecure about Chinese presence in Sri Lanka (Page 10)

a)     I.R

a)     India – Sri Lanka relations

b)     Chinese projects in Sri Lanka

c)     Hambantota port

d)     String of Pearls theory


a)     Official said that India should have an open mind about Chinese projects in Sri Lanka unless the island was seen conferring special favours on China.

b)     Dhanapala (a top diplomat who played a key role in Sri Lankas foreign policy engagement during the war) shared his views on a host of issues including Sri Lankas relationship with India and China, political developments such as the Jan 8 presidential polls and the ongoing campaign in Sri Lanka seeking abolition of executive presidency.

c)     On India voicing concern over an apparently growing Chinese presence in Sri Lanka, he said that Little Sri Lanka offered a project of the Hambantota harbour to India who decided for very good economic reasons not to accept it and so they went to China.

d)     The spread in Sri Lankas international relationships countered the argument that there was a move towards China.

e)     Sri Lanka must keep India informed in order to reduce strategic fears.

f)     In this regard, the US String of Pearls theory had to be viewed with care and suspicion because they have their own motives, trying to cause trouble in Asia by setting up China against India in the region.

g)     India would necessarily remain an important bilateral partner because Sri Lanka was geo-politically locked in a permanent relationship with India which has to be mutually accepted as an irreversible fact of political life.


Lima talks hang by a thread (Page 12)

a)     International

a)     Lima climate talks

b)     Intended Nationally Determined Contributions

c)     2015 Paris Conference

d)     G77

e)     UNFCCC


a)     A new draft was ready for discussion late on after the president of the Conference of Parties and Perus Environment Minister took charge of the UN climate talks and made an appeal that no one should leave Lima empty-handed.

b)     Talks threatened to head nowhere after a seven-page draft text was put up on the INDCs and quickly withdrawn after objections from the G77 and China, who wanted to bring its own text.

c)     He asked countries to give hope to a new climate agreement by 2015-end.

d)     He called on the co-chairs of the Ad Hoc Working Group on the Durban Platform for Enhanced Action to prepare a fresh text.

e)     Commenting on the earlier draft, Senior Climate Change Adviser said that it undermines the trust in the process at a time when countries are negotiating line by line in a transparent and accountable manner.


Indians hold Rs. 4479 crore abroad (Page 11)

a)     National

a)     Black money

b)     Special Investigation Team (SIT)

c)      Income Tax Act, 1961

d)     Prevention of Money Laundering Act

e)     Foreign Exchange Management Act (FEMA)

a)     The Govt said of the list of 628 Indians who could be holding black money overseas, 201 are either non-traceable or non-residents, while 289 have no balance left in their accounts.

b)     There are 427 actionable cases that collectively hold a sum of 4479 crore in bank accounts overseas.

c)     The disclosure is as per the direction of SIT which submitted a report to the Supreme Court on black money.

d)     It recommended additional provisions in the FEMA for seizing of property of equivalent value within the country in cases where it is found property is owned overseas illegally.


RBI Governor urges quick rollout of GST (Page 10)

a)     National

b)     Economy

a)     GST

b)     Inflation

c)     GDP

d)     RBI


a)     RBI Governor announced that the RBI was likely to discuss an appropriate timeline with the govt to take the economy to the centre of the medium term inflation band of 2 percent to 6 percent.

b)     Finance Minister have consistently demanded that the RBI lower interest rates to encourage investments and growth. 

c)     Rajan recommended that the Modi govt cut red tape and make it easier to do business.

d)     For this, he recommended quick rollout of the GST and removal of all restrictions to banks recovery of stressed loans.

e)     He also recommended that India invest in idea-producing institutions such as research departments of official local bodies, think tanks and universities.


Better to Make for India: Rajan (Page 1)

a)     National

b)     Economy

a)     Make in India project

b)     Economic growth

a)     RBI Governor cautioned the govt on Modis Make in India mantra and suggesting that India would have to look for regional and domestic demand for growth to make in India primarily for India.

b)     It is an attempt to follow the export-led growth path that China followed but the world as a whole is unlikely to be able to accommodate another export-led China.

c)     Since the global economy was still weak, he argued it would be much less likely to be able to absorb a substantial additional amount of imports in the foreseeable future.

d)     Export-led growth will not be as easy for India as it was for the Asian economies that took that path before.


Retail inflation eases to 4.38 percent in Nov (Page 13)

a)     Economy

a)     Retail inflation

b)     CPI

c)     CPI-based inflation

d)     Inflation

e)     Food inflation

a)     Retail inflation in Nov dropped to 4.38 percent (the lowest since the new series of data was introduced in Jan 2012) on the support of high-base effect of last year and softening of prices of food items.

b)     The CPI-based inflation or retail inflation stood at 5.52 percent in Oct, while it was 11.16 percent in Nov 2013.

c)     The overall food inflation came down to 3.14 percent in Nov from 5.59 percent in the previous month.

d)     Retail prices of vegetables declined by 10.9 percent against a decline of 1.45 percent in Oct.

e)     The data strengthen the case for a rate cut by the RBI as the central bank has started targeting retail inflation while deciding on its bi-monthly monetary policy.

f)     The RBI has been targeting a retail inflation of 8 percent by March 2015 and 6 percent by March 2016.

g)     Inflation has come down because of the seasonal fall in vegetable and fruit prices. And it has also been helped by fall in global commodity prices.

h)     However, the RBI will not cut the policy rates before the Union Budget (2015-16).


INS Kolkata to fire long range missile in 2015 (Page 11)

a)     S&T

a)     INS Kolkata

b)     Long-range surface-to-air missile (LR-SAM)

c)     Multifunction surveillance and threat alert radar (MF-STAR)

d)     BrahMos

e)     DRDO

a)     Stealth destroyer INS Kolkata (the largest warship built in India) will fire a LR-SAM for the first time in 2015.

b)     The vertical launch units of the LR-SAM (also called Barak 8) have been built into the vessel and the MF-STAR is in place for missile guidance. 

c)     The first flight of the LR-SAM (jointly developed by the Israeli Aerospace Industry and the DRDO) took place in Israel in November.

d)     An operational firing of the vertical BrahMos supersonic cruise missile (against surface targets) would be carried out early next year.


Finding from birds family tree (Page 9)

a)     Environment

a)     Biodiversity

b)     Flemingos

c)     Pelicans

d)     Denosaurs period

a)     Birds use the same genes to sing as humans do to speak. And flamingos are more closely related to pigeons than they are to pelicans.

b)     These are some of the unusual discoveries of the largest, most sophisticated mapping of the bird family tree.

c)     Researchers in 20 nations spent four years on the project to sequence the entire genomes of 48 species of birds including owls, hummingbirds, penguins and woodpeckers.

d)     Birds are the one family of dinosaurs that made it through the mass extinction at the end of the age of dinosaurs.


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