Showing posts from October 23, 2011

Role of India on Euro zone crisis:Montek

Deputy Chairman of the Planing commission Montek Singh Ahluwalia says, India will be supportive of any reasonable multilateral efforts to further tackle the sovereign debt crisis in Eurozone. Welcoming the recent Eurozone plan to stabilize debt ridden Greece, he said the Eurozone crisis is a global problem and it has the potential to impact India as well as other countries.Talking to  media in New Delhi on the Prime Minister Manmohan Singh's visit to the 6th two day G20 Summit next week at Cannes in France, Ahluwalia said, debt reduction alone is not enough and Greece will also need an additional package from the International Monetary Fund and the European Union which will have to be negotiated. He was of the view that the International Monetary Fund is the principal agency responsible for resource support to Europe to tackle the economic crisis.

Russia successfully test fires Bulava ballistic missile

Russia on Friday successfully test fired its nuclear-capable Bulava ballistic missile. The defence ministry said the 37 tonne inter-continental missile was fired from the Yury Dolgoruky submarine in the White Sea.

Latest Russian missile can travel at least 8,000 kilometres and is equipped to carry multiple warheads that can each manoeuvre to hit separate targets.

The Bulava is meant to replace Soviet-era missiles that Russia is decommissioning with age and under agreements with the United States.

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National Manufacturing Policy

National Manufacturing Policy_ Cabinet approved the revised proposal of the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry to put in place a National Manufacturing Policy.

The Cabinet in its meeting held on 15" September 2011 considered the National Manufacturing Policy and directed that the policy may be considered by a Group of Ministers (GOM) for further harmonizing the differences in some inter-ministerial positions notably relating to Ministry of Labour and Employment and the Ministry of Environment and Forests. The GOM in its meeting held on 14th October 2011 has resolved the relevant issues. A revised note incorporating the recommendations of the GOM has been approved by the Cabinet today.

The major objectives of the National Manufacturing Policy are to increase the sectoral share of manufacturing in GOP to at least 25% by 2022; to increase the rate of job creation so as to create 100 million additional jobs by 2022; and to e…

CRPF jawans,civilian injured by grenades

Militants on Wednesday carried out four attacks targeting security personnel in as many hours in the Kashmir Valley, injuring three CRPF jawans and a policeman.Two grenade were lobbed on security installations in central Srinagar in a span of about five minutes followed by an aborted attempt to target a police party with a grenade in south Kashmir's Shopian district.
Later a policeman was shot at and injured in nearby Anantnag district, prompting authorities to tighten vigil.
No militant outfit has claimed responsibility for the attacks which come barely four days after Chief Minister Omar Abdullah announced plans to revoke Armed Forces Special Powers Act from certain parts of the state.
The first incident occurred at Maisuma area near Lal Chowk when the ultras hurled a grenade targeting a CRFF bunker outside Dashnami Akhara building at 12:25 PM, police said.
The grenade exploded resulting in injuries to three CRPF jawans who were admitted to a hospital.
Minutes later, ano…

Libya for govt in two weeks

Libya for govt in two weeks
Interim leader Mustafa Abdel Jalil on Monday set a two-week target for Libya to have a new government and said a commission of inquiry is being formed to probe Muammar Gaddafi's killing.
"We have begun talks (on forming a government), and this matter will not take a month but will be finished within two weeks," the National Transitional Council (NTC) chairman told a media conference in the eastern city of Benghazi. A day after the NTC's declaration of Libya's liberation in the wake of Gaddafi's capture and death, Jalil also said a commission of inquiry is to probe the controversial killing of the fallen strongman. "In response to international calls, we have started to put in place a commission tasked with investigating the circumstances of Muammar Gaddafi's death in the clash with his circle as he was being captured," Jalil said. And after having raised concern in the West by stressing on yesterday that…

IMF Chief at GCC Finance meet

A crucial meeting of the Financial and Economic Committee of the Gulf Cooperation Council (GCC) is being held at Abu Dhabi on Saturday.

The meeting, chaired by Sheikh Hamdan bin Rashid Al Maktoum, the Deputy Ruler of Dubai and the Finance Minister of UAE will take stock of the progress in areas of economic co-operation in the region.

The agenda also includes a closed session by the GCC Financial and Economic Committee, the GCC Committee of Governors of the Central Banks and Monetary Agencies and the International Monetary Fund (IMF) Managing Director.

In the wake of recent international and regional economic  crisis , it is expected that the leaders will strive to promote a stable global economic growth which is able to address social issues, reform global financial systems, and organize monetary markets.