Current Affairs - 20 August 2015

General Affairs

Suspended Cop Sanjiv Bhatt, Who Had Testified Against PM Modi, Sacked

• AHMEDABAD:  Suspended Gujarat Police officer Sanjiv Bhatt, who had taken on then Chief Minister Narendra Modi over the 2002 riots cases four years ago, has been sacked by the state government.
  
  Mr Bhatt was suspended in 2011 for remaining absent from duty without permission and misuse of official vehicles. At the time, he was posted in Junagadh.
  
  The officer had claimed he could not attend to duties because of mother mother was ailing. He had also said since he was to appear before the Nanavati Commission, which was investigating the 2002 riots related cases, his presence was required in Ahmedabad.
  
  The termination of his services had been recommended by the Union home ministry last year, the clearance for which came now.
  
  In a tweet, Mr Bhatt said: 
  

  Finally removed from service today after serving 27 years in the Indian Police Service. Once again eligible for employment. :) Any takers?

  - Sanjiv Bhatt IPS (@sanjivbhatt) August 19, 2015

  
  The government's move also comes two days after he was served a notice on the basis of a controversial video. In the 11-minute video clip, a person purported to be Mr Bhatt was seen with an unknown woman.
  
  The state government said forensic tests had supported the complaint that Mr Bhatt was in an illicit relationship with a woman other than his wife. The notice also said such conduct was unbecoming of an Indian Police Service officer and was in breach of service rules.  
  
  Mr Bhatt, who had denied that he was the man in the video clip, said he was ready to undergo a "detailed biometric examination" to prove it.
  
  Mr Bhatt has been under suspension since 2011, soon after he took on the state government and then Chief Minister Narendra Modi over the 2002 riots in the state. But his claims were rejected by the Special Investigation Team appointed by the Supreme Court to probe nine riots related cases.

GST Bill Cannot be Passed Without Congress Support, Says Jairam Ramesh

• NEW DELHI:  With the government contemplating a special session of Parliament over the GST Bill, Congress leader Jairam Ramesh today said it cannot be passed without his party's support and sought four amendments.
  
  Talking to reporters in New Delhi, Mr Ramesh said four amendments demanded by his party were "pro-consumer".
  
  He said the party was in favour of the Goods and Services Tax (GST) and alleged that Prime Minister Narendra Modi has "single-handedly" held it back when he was the Chief Minister of Gujarat during the rule of United Progressive Alliance government at the Centre.
  
  "Nobody stalled GST other than Modi," Mr Ramesh said.
  
  He said the Congress wanted a cap on the GST rate at 18 per cent, deletion of the provision which allows imposition of one per cent tax by additional levy, an independent dispute resolution mechanism and compensation to panchayat and urban bodies for loss of revenue along with that to the states.
  
  The GST Bill is pending in the Rajya Sabha where the government lacks majority and the Congress is the single-largest party.
  "This bill cannot come through in this form or amended form without support of the Congress," Mr Ramesh said.
  
  The government has been contemplating a special two-day session of Parliament in the second week to September mainly to pass the bill.
  
  The bill could not be taken up in the Monsoon Session of Parliament due to stalemate over the Congress demands for resignation of three Bharatiya Janata Party leaders.
  
  The Congress had pressed for resignation of External Affairs Minister Sushma Swaraj and Rajasthan Chief Minister Vasundhara Raje over their alleged help to former IPL chief Lalit Modi, who is facing Enforcement Directorate probe.
  
  The party has also pressed for resignation of Madhya Pradesh Chief Minister Shivraj Singh Chouhan over the Vyapam scam.

Bengal Congress Chief Adhir Chowdhury Charged With Attempt To Murder

• KOLKATA:  Yesterday West Bengal Chief Minister Mamata Banerjee had mocked him for taking off his shirt and daring the police to fire at him. You are no Sourav Ganguly, she had said. Today the police booked state Congress chief and lawmaker Adhir Chowdhury for attempt to murder and for assaulting government officials and preventing them from entering office during a 12-hour bandh called by his party.
  
  The incident had taken place at Behrampore in Murshidabad district yesterday. Congress workers had tried to prevent government employees from entering their office. The police had charged batons on the Congress workers to let the government workers through. When Mr Chowdhury heard about the use of batons, he rushed to the spot, tore off his shirt and dared the police to fire at him.  
  
  

  In Kolkata, Mamata Banerjee had responded to pictures of Mr Chowdhury in a vest on TV by saying, "Some people are trying to get photographed by going around in Sourav Ganguly-style. That style doesn't suit everyone...one day such people will become photographs themselves."
  
  The police have now booked Mr Chowdhury for attempt to murder, assault to deter public servant from discharge of his duty, voluntarily causing hurt, rioting and unlawful assembly.
  
  An angry Mr Chowdhury said in Kolkata today that, "Mamata Banerjee wants to arrest me and other Congress workers because she wants to grab Murshidabad district and weaken the party in the state. She thought we would become a signboard party. But she has realised her mistake and is scared, just as she was scared of (Maoist leader) Kishanji. But you cannot shut us up with your politics of murder. You will fail, fail, fail."
  
  The Congress had called a 12 hour-bandh across West Bengal yesterday to protest the murder of a Congress student wing activist at Sabang in West Midnapore on August 7.

Can Reverse No Fail Policy in Schools, Need States' Views: Smriti Irani

• NEW DELHI:  The no-detention policy in schools is adversely affecting learning and there has been a proposal to reverse it, Union human resources development minister Smriti Irani said today. But a final decision can be taken only after a written response from the states, she added.
  

  "All members unanimously agreed no detention affecting learning adversely and should be revoked but we still want a written statement from states," the minister said while addressing the media after the first meeting of newly reconstituted Central Advisory Board of Education, or CABE, under the NDA government.

  There has been a growing chorus against the no-detention policy till Class 8 in schools - a provision of the Right to Education Act (RTE), 2009, framed by the erstwhile UPA government.
  
  But since Ms Irani took over, she has held several meetings with schools authorities, teachers and students and reportedly found that most favoured examinations -- not just at school level but also for Class X boards, which had been made optional during the UPA rule.    
  
  There was speculation that the government will also make the Class X board exams compulsory in the New Education Policy, which is currently being drawn up. The minister clarified there can't be a piecemeal approach and it has to be done along with the detention policy. 
  
  "By November, the state and the Centre's representatives will discuss first draft of New Education Policy, which will be ready by December... I have got immense support from states on this," she said.
  
  State Education Ministers and secretaries along with academicians and nominated members of CABE attended the meeting.

Former Sri Lankan President Mahinda Rajapaksa Vows to Remain in Politics

• COLOMBO:  A day after his party lost the parliamentary elections, former Sri Lankan President Mahinda Rajapakse said today that he won't retire from politics. He said he will be in parliament as a MP and serve the nation.
  
  Mr Rajapakse, elected from Kurunegala province, led his United People's Freedom Alliance (UPFA) to a defeat in Monday's parliamentary polls. Mr Ranil Wickremesinghe's United National Front (UNF) won the election.
  
  In January, Mr Rajapakse was ousted from presidency by his former Health Minister Maithripala Sirisena. He was eyeing to bounce back by becoming the nation's new Prime Minister by contesting Monday's polls.
  
  "I accept with humility the result of the parliamentary election and I thank the voters who placed their confidence in our party despite the unprecedented obstacles we had to face," Mr Rajapakse said today.
  
  "I will continue to engage in politics in keeping with the people's demand and I will function within parliament to safeguard the nation and the democratic system," he added.
  
  Mr Rajapakse received more than 400,000 votes from Kurunegala district but his UPFA failed to gain a majority in the 225-seat parliament.
  
  The UPFA obtained 95 seats as opposed to the 106 seats won by the UNF.

Business Affairs 

Sensex rises 100 pts on close, healthcare stocks gain

• The BSE Sensex and Nifty rose on Wednesday, led by gains in export-focused companies after the rupee fell to a near two-year low in early trades, while bullish brokerage calls also helped drugmakers such as Sun Pharmaceutical Industries.

  The dollar has surged by almost 20 per cent against a basket of major currencies in the past year as expectations have grown that the US Fed would become the first major central bank to hike rates since the financial crisis.

  Gains in export-focussed companies and value buying in some other blue chips offset losses in financial stocks.

  Upbeat economic data from the United States and a weak rupee are helping IT stocks, said Alex Mathews, head of research at Geojit BNP Paribas.

  The Sensex closed 0.36 per cent up while the Nifty closed 0.34 per cent higher, after two days of losses.

  Bullish sentiments were seen on the Bombay Stock Exchange with its barometer 30-scrip sensitive index closing 100.10 points - or 0.36 per cent - up at 27,931.64.

  The positive sentiments were there at the wider 50-scrip Nifty of the National Stock Exchange (NSE) as well. It closed 28.60 points or 0.34 per cent up at 8,495.15 points.

  Shares of export-focussed companies led the gains. Sun Pharmaceutical Industries rose 4.32 per cent after Bank of America Merrill Lynch upgraded the stock to "buy" from "neutral", citing the company's integration with Ranbaxy Laboratories, price hikes at unit Taro and improvement in US supplies as key reasons.

  Glenmark Pharmaceuticals shares jumped as much as 3.48 per cent after the company received final approval from the US FDA for a copy of Bayer's Yaz contraceptive drug.

  Among IT stocks, Infosys rose 0.97 per cent, HCL Tech gained 1.88 per cent and Wipro increased 2.14 per cent.

  Shares of Delhi-based developers rose after reports that the country's environment ministry spelt out the dimensions of the eco-sensitive zone around Noida's Okhla bird sanctuary by limiting it to 1 KM. The move is expected to unfreeze projects that have been in limbo for two years.

  Jaiprakash Associates surged 9.39 per cent, Jaypee Infratech gained 5.30 per cent, Unitech rose 0.70 per cent, while DLF fell by 1.02 per cent.

  Meanwhile, Bharti Airtel fell 0.58 per cent after a report that Reliance Industries would roll out its Jio 4G-enabled handsets next month.

Vodafone India, Bharti Airtel, RIL, others win payment bank permits

• Country's leading mobile carriers Bharti Airtel and Vodafone India were among the 11 companies selected by the country's central bank to set up payments banks aimed at granting millions of citizens access to formal banking.

  Energy-to-telecoms conglomerate Reliance Industries , a joint venture of Aditya Birla Nuvo and Idea Cellular, and the country's postal office were also among successful applicants, the Reserve Bank of India said on Wednesday.

  These companies selected will be given "in-principle" approval for 18 months, after which they will be given licences if they fulfil all conditions stipulated by the RBI.

  A total of 41 companies had applied for the permit, the RBI said, adding "some of the entities who did not qualify in this round, could well be successful in future rounds."

  Payments banks will be able to take deposits and remittances but will not be allowed to lend. They are part of country's financial inclusion push, meant to bring banking services to a country where less half the adult population has a bank account.

Corporation Bank cuts base rate by 0.10%

• State-run Corporation Bank on Wednesday cut base rate or minimum lending rate by 0.10 per cent, a move which will lead to lower EMIs for its customers.

  "The bank has revised the base rate for lending from 10 per cent per annum to 9.90 per cent per annum with effect from August 24," Corporation Bank said in a filing to the BSE.

  Meanwhile, on Tuesday, United Bank of India had announced a cut in deposit rates for various maturities by 0.25-0.50 per cent.

  Earlier this month, Punjab National Bank had also cut interest rates on fixed deposits of select maturities by up to 0.50 per cent.

  Shares of Corporation Bank closed at Rs 53.05 a piece on BSE, down 2.05 per cent.

German Parliament backs third Greek bailout with large majority

• German lawmakers overwhelmingly voted in favour of a thirdGreek bailout on Wednesday, heeding a call from Finance Minister Wolfgang Schaeuble to give Greece the chance for a new start, despite his own concerns it might not work.

  There was a sizeable rebellion in Chancellor Angela Merkel's own party ranks, however, suggesting she cannot return to parliament to seek aid for Athens again.

  The Bundestag lower house of parliament, whose backing is essential for the release of bailout funds, approved the plan by 454 votes to 113, with 18 abstentions.

  A breakdown of which lawmakers voted 'no' was not immediately available.

  Popular misgivings about sending more aid to Athens run deep in Germany, the euro zone country which has already contributed most to Greece's two previous bailouts since 2010. The new package is worth 86 billion euros ($94.94 billion).

  Schaeuble, Germany's toughest negotiator on the Greek bailout, led calls for a 'yes' vote in the parliamentary debate.

  "Of course, after the experience of the last years and months there is no guarantee that everything will work and it is permissible to have doubts," said Schaeuble.

  "But in view of the fact that the Greek parliament has already passed a large part of the measures it would be irresponsible to not use the opportunity for a new start in Greece," he said, making the case for the government.

  Schaeuble had taken a tougher line than Merkel in bailout talks. Last month, he tabled the option of a 'timeout' from the euro zone for Greece, before then throwing his weight behind the new bailout plan.

  Support from parties including the Social Democrats (SPD), Merkel's junior coalition partner, and the opposition Greens ensured German approval of the bailout.

  But in a blow to Merkel's authority, dozens of conservatives vowed to oppose the bailout before the vote.

  "The problem isn't a lack of European solidarity but a lack of Greek efficiency," said Wolfgang Bosbach, a member of Merkel's conservative Christian Democrats (CDU).

  MERKEL STAYS MUM

  Merkel sat impassively during the debate on the bailout, as Greens co-leader Anton Hofreiter criticised her government for taking a hard line during talks leading up to the accord on the new bailout.

  "A German government leadership that acts like that damages the cohesion in Europe and thereby damages Germany by damaging our standing in Europe," Hofreiter said to applause.

  In the Netherlands, Prime Minister Mark Rutte will face a no confidence motion on Wednesday, brought by his chief opposition rival over a broken campaign pledge not to provide additional emergency funding to Greece .

  On Tuesday, the parliaments of Austria, Estonia and Spain voted to approve the bailout.

  In Berlin, Schaeuble said Athens had clearly shifted ground in the last few weeks and was ready to reform.

  He also reiterated the German view that it is imperative for the International Monetary Fund to stay on board. The IMF, however, says it won't unless Greece gets debt relief, while Germany is against cutting Greek debt.

  "I am fairly confident that we (international creditors including the IMF) will reach a joint assessment of (Greece's) debt sustainability in October," said Schaeuble, reiterating that a debt haircut is not possible.

  Last month, a record 65 lawmakers from the conservative camp broke ranks and refused to back the start of bailout talks. 

Prem Watsa-led Fairfax India completes acquisition of NCML for Rs 800 crore

• Fairfax India on Wednesday announced that it has completed the acquisition of majority ownership interest and management control in NCML for Rs 800 crore.

  "We look forward to National Collateral Management Services Limited (NCML), under the leadership of Sanjay Kaul and his management team, continuing to develop vast opportunities in India's agriculture industry by continuing with its entrepreneurial approach creating modern efficiencies in the country's post-harvest value chain", Fairfax India Chairman Prem Watsa said.

  Fairfax India has subscribed newly issued shares of NCML (approximately $31 million) and purchased the shares of certain selling shareholders (about $95 million), for an aggregate investment of nearly Rs 800 crore (approx $126 million). Following this investment by Fairfax India, NCML will continue to operate independently with Sanjay Kaul as Managing Director and CEO and his experienced executive team.

  "The management and employees are excited with the opportunities in the post-harvest agri-space and under the inspiring leadership of Watsa, Chairman Fairfax, look forward to a phase of rapid growth across all our business verticals", Kaul said.

  NCML operates in the mid-stream agriculture value chain offering end-to-end solutions in procurement, testing, storage and collateral management in a wide ranging set of agri-commodities.

General Awareness

MODI Central ASIA Visits PART 3

• • Dear Readers & Aspirants, We collected some Modi Foreign Visits 2014 – 2015 and make it in points format. We Hope it will definitely help you for your upcoming Exams. All the Best My Dear Aspirants & Readers.

    • Modi Foreign Visits 2014 – 2015 Part 1
    • Modi Foreign Visits 2014 – 2015 Part 2

    1.Uzbekistan

    # Notes

    Mr. Modi wants to expand economic cooperation and engagement between India and Uzbekistan, to make it easier for Indian businesses to function in that country and to improve transport links between the two.

    India is keen for the value of imports from Uzbekistan, which are currently low, to increase. This is because it wants to import some of Uzbekistan’s uranium to help power 10 nuclear reactors eligible for imported fuel.

    Mr. Modi said the contract to do so, which was signed in 2013 to supply 2,000 metric tons of uranium ore concentrate over five years, was yet to be implemented and that the two countries on Monday discussed ways to make it happen. He gave no further timeline.

    *first visit to Central Asian countries, Prime Minister Narendra Modi on held talks with Uzbekistan President Islam Karimov on key bilateral and regional issues including the situation in Afghanistan as the two countries inked 3 pacts to boost cooperation between their foreign offices and in the field of culture and tourism.

    1.Strengthening cooperation_strengthening ongoing cooperation in the areas of agriculture, information technology and energy.

    2.cooperation on cyber-security_

    The two countries noted the importance of promoting long-term, mutually beneficial partnerships among their business communities, companies and enterprises.

    3.They called for partnership in creating favourable conditions for investment by Indian companies in Uzbekistan, including in the

    framework of the Special Economic Zones

    • Navoi
    • Angren
    • Jizzakh

     They noted prospects for joint investment projects in sectors such as pharmaceuticals, light industry, IT and communications.

    #MoUs signed

    Two sides reaffirmed their interest in expanding and further strengthening long-term bilateral cooperation covering diverse sectors such as

    • Political ties
    • Security
    • Counter-terrorism
    • Trade and investment
    • Science and technology
    • Cultural linkages.

    # Ashgabat Agreement
     The International North-South Transport Corridor is a ship, rail and road route for moving freight between India, Russia, Iran, Europe and Central Asia while the Ashgabat Agreement is a transit pact established in 2011 between Uzbekistan, Iran, Turkmenistan and Oman.

    Monument of Independence and Humanism

    Modi paying a visit to the Monument of Independence and Humanism and the Memorial of Late Indian Prime Minister Lal Bahadur Shastri.

    *Key points __

    • Capital –Tashkent
    • Currency–Uzbekistani som
    • President –Islam Karimov
    • Prime minister–Shavkat Mirziyoyev

    2.Kazakhstan

    Narendra Modi who was here on his second leg of the visit to Central Asia

    Eyeing to expand bilateral strategic partnership as well as expand its presence in Central Asia — part of Delhi’s extended neighbourhood

    • India and Kazakhstan on Wednesday inked a deal for a renewed long-term supply of natural uranium_
    • Kazakhstan, a leading uranium producer globally, will supply 5,000 tonnes of uranium to India during 2015-19, PM’s visit to Kazakhstan is expected to give a fillip to the civil nuclear deal signed in 2009.
    • Kazakhstan will emerge as the biggest source of uranium for India besides Canada and Australia. This is the second such agreement between Astana and Delhi since 2009. Kazakhstan’s uranium firm KazAtomProm supplied 600 MT
    • wide-ranging defence cooperation pact
    • railway cooperation agreement to boost connectivity to realise full economic potential.
    • Caspian Sea oil block drilling agreement, that India has 25 per cent stake in. India and Kazakhstan could also be finalising agreements on mining, mineral and oil and gas projects, which include iron ore, coal and potash exploration.

    *KEY POINTS _

    • Capital –Astana
    • Currency–Kazakhstani tenge
    • President –Nursultan Nazarbayev
    • Prime minster -Karim Massimov

    3 Russia–7th BRICS summit & SCO summit

    Modi to attend BRICS and SCO summit in Ufa_

    Attend 7th BRICS summit and Shanghai Cooperation Organization summits (SCO) in Ufa, Russia.

     A.Main agenda on 7th BRICS summit

    Theme__    “powerful factor for Global Development”

    • To enhance the economic cooperation.
    • To create a currency pool under Contingent Reserve Arrangement (CRA) in order to reduce the monopoly of global transaction though western currencies.
    • CRA to handle all financial risk of the member countries.
    • Discussion on new development bank.(NDB)
    • Currency swap on member countries.
    • India plays as the most important country in BRICS
    • BRICS also has a very crucial role of maintaining world peace and security and ensuring leaving behind a better planet for the future generations.

    MODIs 10 proposals in 7th BRICS summit

    1. BRICS Trade Fair
    2. BRICS Railway Research Center
    3. Cooperation Among Supreme Audit Institutions
    4. BRICS Digital Initiative
    5. BRICS Agricultural Research Center
    6. BRICS Forum of State/Local Governments
    7. Cooperation Among Cities in field of Urbanization
    8. BRICS Sports Council and Annual BRICS Sports Meet
    9. First Major Project of NDB (New Development Bank) to be in the field of Clean Energy
    10. BRICS Film Festival

    B.Shanghai Cooperation Organization (SCO) Summit

    Modi attended SCO __

    6 nations (China, Russia, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan) membered SCO summit, along with India and Pakistan . held on 9-10 July.

    India’s membership along with Pakistan will be confirmed by next year as per the info given by Russia officials making SCO as 8-membered countries.

    NEW permanent members__ INDIA & PAKISTAN *

    Shanghai Cooperation Organisation

    which was founded on 26 April 1996 in Shanghai by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan.
    Headquarters_ Beijing, China
    Members_ China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, Pakistan, India
    Observers_ Afghanistan, Belarus, Iran, Mongolia

    Functions

    • The SCO is primarily focused on its member nations’ Central Asian security-related concerns.
    • It has been active in the area of social development of its member states.
    • It has increased activities in military cooperation, intelligence sharing, and counterterrorism.
    • The other areas where SCO is active are in economic and cultural operations.

     5_Takeaways from Modi and Sharif’s Meet in Ufa

    1.Tackling Terrorism

    The current national security advisors of the two nations, will meet to “discuss all issues connected to terrorism,” said the statement. It didn’t give a timeline for the meeting between India’s Ajit Doval and Pakistan’s Sartaj Aziz.

    India has on several occasions blamed Pakistan for supporting terrorism, a claim Islamabad has repeatedly denied. Last year, after eight soldiers died in a militant attack on an Indian army camp in the northern state of Jammu and Kashmir, Indian Home Minister Rajnath Singh blamed Islamabad for “sheltering” terrorists. “If Pakistan can’t stop these attacks, let it take India’s help,” he said.

    2-Military Meeting

    The two sides also said meetings will take place between the heads of India’s Border Security Force and the Pakistan Rangers, followed by discussions between the director generals of military operations from both countries. Mr. Singh said in a statement Friday that this would “help in stabilizing the situation” at the border between India and Pakistan.

    The border has recently seen a spate of violence with cross-border firing from both sides, forcing thousands of local people from their homes.

    3.Freeing Fishermen

    A decision on the release of Indian and Pakistani fishermen in custody in both countries, along with the return of their boats, can be expected in 15 days, according to the statement. Pakistan’s foreign ministry said as of July 1 that there were 355 Indian fishermen in Pakistani jails and 27 Pakistani fishermen in Indian jails. The statement did not go as far as to say they would be released however.

    4.Religious Tourism

    The neighbors agreed to establish a “mechanism for facilitating religious tourism” between the two countries.

    5.Mumbai Terror Attack

    Six months after Zakiur Rehman Lakhvi, the alleged mastermind of the devastating attack on Mumbai that killed 166 people in 2008, was freed from prison in Pakistan, the two sides announced a decision to “discuss ways and means to expedite the Mumbai case trial, including additional information like providing voice samples.” India alleges that the attackers were backed by Pakistan’s military and intelligence agencies—a charge that Pakistan denies.

    KEY persons _
    * INDIA –PM –MODI
    *Foreign secretary — S.jai shankar
    *NSA — Ajit Doval
    PAKISTAN –PM — SHARIF
    *Foreign secretary– Aizaz Chowdary
    *NSA– Sartaj aziz 
    
    Note _

    when the two rival nations put out a joint statement after their leaders held long-delayed talks in the Russian city of Ufa, some political commentators were caught by surprise.

    Almost a year after his country called off talks with Pakistan, Mr. Modi accepted an invitation to visit Islamabad in 2016 for the upcoming Saarc summit.

    4 Turkmenistan

    Prime Minister Narendra Modi on Saturday pitched for early implementation of the $ 10 billion TAPI gas pipeline project during his talks with Turkmenistan President Gurbanguly Berdymukhammedov as both countries inked seven pacts to ramp up engagement in key areas.

    • Including defence & tourism.
    • Cross-border threats of terrorism
    • Organised crime
    • Illegal drug-trafficking
    • Reaffirmed their commitment for a stable Afghanistan.
    • Land-sea route through Iran for the pipeline should be explored.
    • Enhancing connectivity– TAPI

    1. Terming TAPI (Turkmenistan-Afghanistan-Pakistan-India) project as a significant initiative in relationship between the two countries.
    2. TAPI gas project is an over 1,800-km pipeline with design capacity to supply 3.2 billion cubic feet of natural gas per annum from Turkmenistan to Afghanistan, Pakistan and India.
    3. The pipeline is expected to be operational by 2018 and will carry gas from Turkmenistan’s Galkynysh field that holds gas reserves of 16 trillion cubic feet.

     #Joint statement

    A joint statement called the TAPI project a “key pillar” of economic engagement between the two countries and said both the leaders recognised that its implementation would have a transformational impact on trade.

    KEY POINTS

    • Capital–Ashgabat
    • Currency– Turkmenistan manat
    • President -Gurbanguly Berdimuhamedow

    5 Kyrgyzstan

    Prime Minister Narendra Modi met Kyrgyzstani President Almazbek Atambayev in Bishkek, the capital of Kyrgyzstan signed four agreements including one on bolstering defence cooperation and holding annual joint military exercises.

    The agreements signed are

    • Agreement on Defence Cooperation_defence, security, military education and training, conduct of joint military exercises, exchange of experience and information, exchange of military instructors and observers etc
    • Memorandum of Mutual Understanding and Cooperation in the field of Elections_elections and referendums, modern systems and technologies, rights of elections process stakeholders as well as other issues of election administration.
    • MoU between Ministry of Economy of Kyrgyzstan and Bureau of Indian Standards (BIS)_fields of standardization, conformity assessment and sharing of expertise on mutual trade with the aim of exchanging necessary information and expertise between the two parties
    • Agreement on Cooperation in Culture _areas such as preservation of cultural heritage, organisation of folk arts, theatre, youth festivals and cooperation in of publishing and translation of literature, sports and physical culture, exchange of archival materials, history, geography

    KEYPOINTS

    • Capital –Bishkek
    • Currency– Kyrgyzstani som
    • President –Almazbek Atambayev

     6 Tajikistan

    • On the last leg of his eight-day six-nation tour, Prime Minister Narendra Modi today made a strong pitch for taking India’s ties with Tajikistan to newer heights in diverse areas.
    • India’s indication to join the Pakistan, Afghanistan, Tajikistan Trade and Transit Agreement as the fourth partner.
    • India joining the agreement “would allow the arrangement to contribute in a meaningful manner to the vision of wider regional economic integration.
    • Modi’s visit to Tajikistan would give an impetus to bilateral ties between New Delhi and Dushanbe.
    • During his five-day visit, the Tajikistan Foreign Minister is scheduled to hold talks with Defence Minister Manohar Parrikar and visit the Taj Mahal in Agra.

     KEY AREAS_ Trade , economic intergration

    KEYPOINTS

    • Capital –Dushanbe
    • Currency–Tajikistani somoni
    • president–Emomali Rahmon
    • primeminster –Kokhir Rasulzoda