Current Affairs - 13 October 2015

General Affairs

BJP Urges Election Commission Not to Ban Live Telecast of PM's Rallies

• NEW DELHI:  The Bharatiya Janata Party today urged the Election Commission not to ban live telecast of Prime Minister Narendra Modi's rallies during polling in Bihar, as demanded by the Janata Dal (United)-Rashtriya Janata Dal-Congress alliance.
  
  "The EC assured us that the live telecast will not be banned," senior BJP leader Mukhtar Abbas Naqvi told IANS after a meeting with Chief Election Commissioner Nasim Zaidi.
  
  A BJP delegation told the Election Commission that by banning live telecast, voters of constituencies in Bihar that are yet to go to polls will not be able to listen to a senior party leader leading the BJP's election campaign, he said.
  
  In a memorandum submitted to the commission, the BJP alleged that by seeking a ban on the live telecast of the Prime Minister's rallies on voting days, the rival alliance was trying to "attack democratic values".
  
  The delegation also demanded a CBI probe into the sting operation that showed Bihar minister Awadhesh Prasad Kushwaha allegedly accepting a bribe.
  
  The Commission has already asked Income Tax authorities to investigate the case.
  
  Mr Kushwaha resigned on Sunday after he was caught on camera while allegedly accepting Rs 4 lakh from individuals posing as "businessmen from Mumbai".
  
  The alliance consisting of Janata Dal-United, Rashtriya Janata Dal and Congress on Sunday approached the Election Commission to seek a ban on live telecast of Mr Modi's rallies in Bihar on the ground that it could influence voters of constituencies going to poll on Monday.
  

Despite Shiv Sena Protest, Ex-Pak Minister's Book Launched in Mumbai

• MUMBAI, MAHARASHTRA:  Despite threats by Shiv Sena, and the blackening of the face of Sudheendra Kulkarni, the organisers of the launch of former Pakistan foreign minister, Ahmed Kasuri's book "Neither a Hawk, Nor a Dove" amid tight security.
  
  Earlier in the day, Shiv Sena workers had smeared black paint on Mr Kulkarni's face outside his house. He is the chairman of the Observer Research Foundation (ORF), the think-tank and organiser of the book launch show.
  
  

  "I would like to thank Chief Minister Mr Devendra Fadnavis for providing excellent protection (provided to him) ever since I landed in Mumbai airport (last evening)," he said at the book launch.
  
  "I also express my deepest gratitude to all of you who have come to attend the function notwithstanding the extra ordinary circumstances in which it is being held. This shows your resolve, our resolve and common resolve, the resolve of millions of Mumbaikars to defend the values of tolerance and diversity," Mr Kulkarni said while making opening remarks at the event held at Nehru Centre in Mumbai.
  
  It was attended among others by noted lawyer and historian AG Noorani, journalist Dileep Padgaonkar and film actor Naseeruddin Shah, who were panelists at the launch.
  
  Taking a jibe at Shiv Sena, Mr Kulkarni  welcomed the former Pakistan Minister to the megapolis of Mumbai in Marathi.
  
  Without naming Shiv Sena, he evoked President Pranab Mukherjee's recent remarks that "tolerance and diversity and core values of Indian civilisation and these must be defended", he said adding "we shall defend them".
  
  Terming Mumbai as a "tolerant, inclusive, liberal, democratic and multi-faith city", Mr Kulkarni said the mega polis celebrates diversity of every kind including "diversity of thoughts and opinions".
  
  The former aide of BJP veteran, LK Advani said that Mumbai has a very special place in India's freedom Movement with Mahatma Gandhi and Muhammed Ali Jinnah spending "maximum years" substantial part of their lives in the city, which served as "karma bhumi" of the both the leaders.

Indian Coast Guard Gets 15th Fast Patrol Vessel from Cochin Shipyard

• KOCHI, KERALA:  The 15th vessel in the series of 20 Fast Patrol Vessel, ICGS Arinjay, has been delivered by the Cochin Shipyard Limited (CSL) to the Indian Coast Guard (ICG) more than two months ahead of schedule.
  
  The Protocol of Delivery and Acceptance was signed between Sunny Thomas, Director (Technical), CSL and Commanding Officer (Designate) of the vessel Commandant Ajay Kumar Mudgal.
  
  Many senior officials of ICG and CSL were present on the occasion.
  
  

  The vessel will be operated from the Coast Guard Station at Okha, Gujarat, said a CSL release.
  
  These Fast Patrol Vessels (FPV) are primarily intended for patrolling within the Exclusive Economic Zone and Coastal Patrol, carrying out anti-smuggling, anti-piracy and search and rescue operations, and for fisheries protection and monitoring.
  
  They also have a secondary role of providing a communication link, and escort coastal convoys, in times of hostilities and war.
  
  The fourteenth ship of the series, ICGS Apoorva, was delivered in July this year almost two months ahead of the contractual schedule.
  
  By achieving the FPV deliveries once in 1.5 to 2 month intervals as against the contractual requirement of once in 3 months, the yard is planning to complete the contract much ahead of schedule, thus ensuring the coastal security of the nation, the CSL said.
  
  The last vessel of the order is to be delivered by March 2017 as per the contract with ICG. However, with the current pace of construction, Cochin Shipyard is targeting to accomplish this by mid-2016, it said.
  
  Thirteen vessels delivered have already been commissioned into the service of Indian Coast Guard and are vigilantly guarding the nation's vast coastline.

NDA Will Get Decisive Mandate in Bihar, Says BJP Leader Shahnawaz Hussain

• PATNA:  Buoyed by 57 per cent voter turnout in the first phase of polling on 49 constituencies in Bihar, BJP national spokesperson Syed Shahanwaz Hussain today said the NDA will get a decisive mandate in the Assembly polls with two-thirds majority.
  
  "I am confident that the NDA will ride on the Prime Minister Narendra Modi's popularity with the people of Bihar by getting a decisive mandate with two-thirds majority in the assembly polls and form the next government," he told PTI.
  
  The Prime Minister's leadership and his special package of Rs 1.25 lakh crore for Bihar has won the hearts of the people of the poll-bound state and it will translate into a massive verdict in favour of the NDA at the hustings, Mr Hussain said.
  
  Sensing a "strong mood" among voters for change of guard in Bihar, the senior BJP leader said the NDA was fully geared up to meet a big challenge on development front and expressed confidence that the next government to be headed by a BJP Chief Minister will be equal to that task to meet all those challenges in partnership with the Central government over the next five years.
  
  On RJD chief Lalu Prasad and Bihar Chief Minister Nitish Kumar taunting the BJP for not announcing its chief ministerial candidate for Bihar by asking to name 'dulha' (groom), Mr Hussain said that the saffron party does not believe in 'dulha culture' but views the occupant of the chief ministerial post as 'pradhan sevak' (chief servant) of the state, a lexicon coined by the Prime Minister for himself upon assuming the reins at the Centre last year.
  
  "If Nitish Kumar is happy at being projected as 'dulha' let him do so, but in our party (BJP), the chief ministerial candidate will always be deemed as pradhan sevak," he said and asked the grand secular alliance stalwarts not to worry about the NDA's chief ministerial candidate, which will be decided by the BJP's parliamentary board.
  
  With a section of media still speculating about his candidature for the Chief Minister's post, Mr Hussain sought to play with straight bat saying that the matter will be decided by the parliamentary board.

China Steps Up Efforts to Reopen Border With Nepal

• BEIJING, CHINA:  With Nepal's supplies being squeezed due to the restricted movement of goods through the Indian border after protests over the new Constitution, China today said that it is expediting efforts to re-open its borders with Nepal which has been closed since the massive earthquake in the Himalayan nation.
  
  "China is stepping (up) efforts to reopen the route as soon as possible to ensure communication and trade," Chinese Foreign Ministry spokesperson Hua Chunying told reporters.
  
  

  He said this while answering a question on Chinese efforts to re-open the route blocked by the massive earthquake that devastated Nepal in April.
  
  The Indian-origin inhabitants of the country's southern plains, Madhesis have been protesting over the newly-promulgated Constitution, they say that it does not protect rights of minority groups.
  
  The China-Nepal border is located on the high-altitude ranges of Tibet, and the now-closed route connecting the two sides was badly damaged in the April quake, cutting off any possibility of movement of goods through land route.
  
  Nepal is facing an acute shortage of essential supplies, fuel and cooking gas prominent among them, due to the nearly- two-week-old blockade by Madhesis near the Nepal-India border checkpoints.
  
  Madhesis and Tharu ethnic groups are protesting for more representation in the Constitution. They see the model to split Nepal into seven federal provinces as flawed and discriminatory to their rights.
  
  More than 40 people have died in the agitation.
  
  Nepal, a land-locked country bordered by India on the south, east and west, and China on the north, is dependent on its neighbours for transit and supplies.

Business Affairs 

Sensex slips below 27000 mark, down 175 points; Nifty ends at 8,143

• The domestic markets slipped in red after hitting their highest in nearly two months as software stocks declined led by Infosys, while worries that retail inflation for September could edge higher also weighed on the market.

  The consumer price index (CPI) inflation or retail inflation rose up to 4.41 per cent in September as compared to 3.74 per cent in August, the government data released later in the day showed.

  The S&P BSE Sensex ended the day 175 points down at 26,904.11, while broader CNX Nifty slipped below its crucial psychological level of 8,150 to end 46.10 points down at 8,143.60.

  "There has been Infosys-led falls but Infosys earnings cannot be extrapolated to the entire earnings season," said Aneesh Srivastava, chief investment officer at IDBI Federal Life Insurance Co.

  Technology stocks led the declines. Infosys was the top Sensex loser and ended 4% down, while Tata Consultancy Services lost 1.6 per cent ahead of its Q2 numbers to be announced on Tuesday.

  Among gainers, metal stocks soared for a second day after commodities group Glencore said it would cut its zinc output by a third, sparking a short-covering rally across the board.

  Vedanta ended 6.9 per cent up, while Hindalco Industries closed 5.7 per cent down.

  Among Asian markets, China's Shanghai Composite ended the day 3.28 per cent higher, Hong Kong's Hang Seng settled 1.21 per cent up, while Japan's Nikkei added 1.64 per cent at close.

  On Friday, US stocks extended gains after minutes of the Fed meeting indicated it may hold rates for now. Further, the disappointing jobs data also reaffirmed Fed's decision to keep status quo. The markets ended 3.3% higher in the week making it the best weekly gains in 2015. 

Rupee likely to firm up to 64.5 level: India Ratings

• The rupee is set to strengthen its gains towards 64.5 level against the dollar on the back of weakness in dollar, ratings agency India Ratings said on Monday.

  The US dollar has been losing ground against most emerging market currencies following a spate of weak data from the US and on expectations of a delay in policy rates normalisation in US, the rating agency said.

  India Ratings said it expects the rupee to see further gains on the release of the first tranche of G-sec limit under the FPI framework this week.

  The guidelines on foreign portfolio investment (FPI) limits in government securities (G-secs) will help broaden participation across the yield curve, help investors plan allocations systematically and alleviate concerns over 'hot money' outflows in the event of global volatility resurgence, Ind-Ra said.

  Ind-Ra predicted inflation and factory output data due this week could underscore its bullish view on bonds. The rupee on Monday ended marginally lower by one paise to 64.75 against the American currency on mild dollar demand from banks and importers. 

CPI inflation up at 4.41 per cent in September

• The consumer price index (CPI) inflation or retail inflation is up at 4.41 per cent in September due to costlier food items in general and beverages and pulses in particular as compared to 3.74 per cent in August, government data released on Monday has showed.

  The government revised the August CPI inflation to  3.74 per cent  from the previous 3.66 per cent. However, the consumer inflation for the month under review has declined as against August last year when it stood at 5.63 per cent.

  Retail food inflation for September came in at 3.88 per cent, higher than a provisional 2.20 per cent in August.

  Reserve Bank of India (RBI) estimates retail inflation to be at 5.8 percent in January 2016.

  Retail inflation in pulses and products category rose to 29.76 per cent in September. While the price rise in the food and beverages category almost doubled from a month earlier to 4.29 per cent in September, inflation in cereals and products was also higher at 1.38 per cent.

  However, among other protein rich items such as meat and fish, the rate of price rise has slowed to 5.59 per cent. Likewise, milk and its products were also cheaper in September with inflation rate at 5.05 per cent.

  During the month, eggs also turned cheaper with 1.19 per cent price rise. However, the rate of price growth for 'cereals and products' was faster at 1.38 per cent. As per the data from the Ministry of Statistics and Programme Implementation (MOSPI), inflation in sugar and confectionery category remained in negative zone at (-) 12.91 per cent.

  The price rise in spices category was higher at 9.27 per cent and for non-alcoholic beverages at 4.32 per cent. Break-wise; retail inflation rose to 5.05 per cent for rural segment in September and for urban sector it was at 3.61 per cent. 

August industrial production hits three-year high, grows 6.4%

• Industrial production grew at a nearly three-year high of 6.4 per cent in August on account of improvement in manufacturing as well as mining activity and better offtake of capital goods.

  The factory output had grown by 0.5 per cent in August last year.

  Industrial output , measured in terms of the Index of Industrial Production (IIP), was at 4.1 per cent in the April-August period against 3 per cent in the year-ago period, the data released by the Central Statistics Office (CSO) showed.

  The index grew at 8.4 per cent in October, 2012. After that, it has touched the highest level of 6.4 per cent in August.

  The IIP growth for July has been revised slightly downwards to 4.1 per cent from provisional estimate of 4.2 per cent last month. The manufacturing sector, which constitutes over 75 per cent of the index, grew by 6.9 per cent in August, 2015 against a contraction of 1.1 per cent in the same month last year.

  During April-August period, manufacturing sector grew at 4.6 per cent as compared to 2 per cent growth in same period a year ago.

  The mining sector growth was at 3.8 per cent in August against 1.2 per cent in the same month last fiscal. During April-August period, the sector grew at 1.2 per cent.

  The output of capital goods, a barometer of investment, grew at an impressive rate of 21.8 per cent as against a contraction of 10 per cent in the same month last year.

  During April-August, the capital goods output grew by 7.4 per cent as compared to 4.8 per cent in the year-ago period.

  However, power generation growth slowed to 5.6 per cent in August as compared to 12.9 per cent in the same month a year ago. During April-August period, it grew by by 3.2 per cent as compared to 11.7 per cent in same period a year ago. In terms of industries, 15 out of 22 groups in the manufacturing sector showed positive growth in August. 

Why Infosys shares fell even after good Q2 result

• For the second successive quarter, Infosys announced good results that beat market expectations. The stock, however, fell on the quarterly results numbers, declining as much by 5 per cent at one time before recovering a bit.
  

  The reason for the market reaction is fairly simple. The turnaround story is still a work in progress. Negatives like the CFO quitting, the company still battling 14.1 per cent attrition, and failure of the company to revise its growth projections in spite of the first half of the year being good, the market believes are signals that the turnaround story still requires substantial work.

  The onetime bellwether for the sector has seen some good set of numbers over the past couple of quarters, under the new leadership led by CEO and MD Vishal Sikka, the first non-promoter in the company's history to hold that office.

  Improved operational efficiencies including higher utilisation has meant that operating margins have gone up by a substantial 150 basis points in this quarter (that is about 1.5 per cent). The company also announced new total contract value wins of close to a billion dollars in this quarter.

  However, the third quarter usually is 'soft' for most services companies given the lower number of working days in this quarter. The markets seem to be factoring in that Infosys stock has also run up quite a bit - about 44 per cent - since Sikka took charge in August 2014.

  Compared to Infosys's shares run-up, TCS has gone up just 4.5 per cent and Wipro by 10.5 per cent in the same period. Now, Infosys's results and numbers need to catch up with the rise on the bourses.

General Awareness

Indian Constitution Part – III

INDIAN CONSTITUTION   Part – III

• • This is the continuity of the Indian constitution part II. In this part we are going through the articles of Part XI to Part XVI.

    
    

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PART XI : RELATIONS BETWEEN THE UNION AND THE STATES(245 – 263)

• • Article	Importance
    CHAPTER I : LEGISLATIVE RELATIONS
    Distribution of Legislative Powers
    245	Extent of laws made by Parliament and by the Legislatures of States.
    246	Subject-matter of laws made by Parliament and by the Legislatures of States.
    247	Power of Parliament to provide for the establishment of certain additional courts.
    248	Residuary powers of legislation.
    249	Power of Parliament to legislate with respect to a matter in the State List in the national interest.
    250.	Power of Parliament to legislate with respect to any matter in the State List if a Proclamation of Emergency is in operation
    251	Inconsistency between laws made by Parliament under articles 249 and 250 and laws made by the Legislatures of States.
    252	Power of Parliament to legislate for two or more States by consent and adoption of such legislation by any other State.
    253	Legislation for giving effect to international agreements.
    254	Inconsistency between laws made by Parliament and laws made by the Legislatures of States.
    255	Requirements as to recommendations and previous sanctions to be regarded as matters of procedure only.
    CHAPTER II : ADMINISTRATIVE RELATIONS
    General
    256	Obligation of States and the Union.
    257	Control of the Union over States in certain cases.
    257A	Repealed
    258	Power of the Union to confer powers, etc., on States in certain cases.
    258A	Power of the States to entrust functions to the Union.
    259	Repealed
    260	Jurisdiction of the Union in relation to territories outside India.
    261	Public acts, records and judicial proceedings.
    Disputes relating to Waters
    262	Adjudication of disputes relating to waters of inter-State rivers or river valleys. Co-ordination between States
    263	Provisions with respect to an inter-State Council.

    
    

PART XII : FINANCE, PROPERTY, CONTRACTS AND SUITS(264 – 300A)

• • Article	Importance
    CHAPTER I : FINANCE
    General
    264	Interpretation.
    265	Taxes not to be imposed save by authority of law.
    266	Consolidated Funds and public accounts of India and of the States.
    267	Contingency Fund.
    Distribution of Revenues between the Union and the States
    268	Duties levied by the Union but collected and appropriated by the State.
    269	Taxes levied and collected by the Union but assigned to the States.
    270	Taxes levied and distributed between the Union and the States.
    271	Surcharge on certain duties and taxes for purposes of the Union.
    272	Repealed
    273	Grants in lieu of export duty on jute and jute products.
    274.	Prior recommendation of President required to Bills affecting taxation in which States are interested
    275	Grants from the Union to certain States.
    276	Taxes on professions, trades, callings and employments.
    277	Savings.
    278	Repealed.
    279	Calculation of “net proceeds”, etc.
    280	Finance Commission.
    281	Recommendations of the Finance Commission.
    Miscellaneous financial provisions
    282	Expenditure defrayable by the Union or a State out of its revenues.
    283	Custody, etc., of Consolidated Funds, Contingency Funds and moneys credited to the public accounts.
    284	Custody of suitors’ deposits and other moneys received by public servants and courts.
    285	Exemption of property of the Union from State taxation.
    286	Restrictions as to imposition of tax on the sale or purchase of goods.
    287	Exemption from taxes on electricity.
    288	Exemption from taxation by States in respect of water or electricity in certain cases.
    289	Exemption of property and income of a State from Union taxation.
    290	Adjustment in respect of certain expenses and pensions.
    290A	Annual payment to certain Devaswom Funds.
    291	Repealed
    CHAPTER II : BORROWING
    292	Borrowing by the Government of India.
    293	Borrowing by States.
    CHAPTER III : PROPERTY, CONTRACTS, RIGHTS, LIABILITIES, OBLIGATIONS AND SUITS
    294	Succession to property, assets, rights, liabilities and obligations in certain cases.
    295	Succession to property, assets, rights, liabilities and obligations in other cases.
    296	Property accruing by escheat or laps or as bona vacantia.
    297	Things of value within territorial waters or continental shelf and resources of the exclusive economic zone to vest in the Union.
    298	Power to carry on trade, etc.
    299	Contracts.
    300	Suits and proceedings
    CHAPTER IV : RIGHT TO PROPERTY
    300A	Persons not to be deprived of property save by authority of law.

    
    

PART XIII : TRADE, COMMERCE AND INTERCOURSE WITHIN THE TERRITORY OF INDIA(301 – 307) 

• • Article	Importance
    301.	Freedom of trade, commerce and intercourse
    302	Power of Parliament to impose restrictions on trade, commerce and intercourse.
    303	Restrictions on the legislative powers of the Union and of the States with regard to trade and commerce.
    304	Restrictions on trade, commerce and intercourse among States.
    305	Saving of existing laws and laws providing for State monopolies.
    306	Repealed
    307	Appointment of authority for carrying out the purposes of articles 301 to 304.

    
    

PART XIV : SERVICES UNDER THE UNION AND THE STATES(308 – 323)

• • Article	Importance
    CHAPTER I : SERVICES
    308	Interpretation.
    309	Recruitment and conditions of service of persons serving the Union or a State.
    310	Tenure of office of persons serving the Union or a State.
    311	Dismissal, removal or reduction in rank of persons employed in civil capacities under the Union or a State.
    312	All-India services.
    312A	Power of Parliament to vary or revoke conditions of service of officers of certain services.
    313	Transitional provisions
    314	Repeated
    CHAPTER II : PUBLIC SERVICE COMMISSIONS
    315	Public Service Commissions for the Union and for the States.
    316	Appointment and term of office of members.
    317	Removal and suspension of a member of a Public Service Commission.
    318	Power to make regulations as to conditions of service of members and staff of the Commission.
    319	Prohibition as to the holding of offices by members of Commission on ceasing to be such members.
    320	Functions of Public Service Commissions.
    321	Power to extend functions of Public Service Commissions.
    322	Expenses of Public Service Commissions.
    323	Reports of Public Service Commissions.

    
    

PART XIVA : TRIBUNALS(323A – 323B)

• • Article	Importance
    323A	Administrative tribunals
    323B	Tribunals for other matters.

    
    

PART XV : ELECTIONS(324 – 329)

• • Article	Importance
    324	Superintendence, direction and control of elections to be vested in an Election Commission.
    325	No person to be ineligible for inclusion in, or to claim to be included in a special, electoral roll on grounds of religion, race, caste or sex.
    326	Elections to the House of the People and to the Legislative Assemblies of States to be on the basis of adult suffrage.
    327	Power of Parliament to make provision with respect to elections to Legislatures.
    328	Power of Legislature of a State to make provision with respect to elections to such Legislature.
    329	Bar to interference by courts in electoral matters.
    329A	Repealed

    
    

PART XVI : SPECIAL PROVISIONS RELATING TO CERTAIN CLASSES(330 – 342)

• • Article	Importance
    330	Reservation of seats for Scheduled Castes and Scheduled Tribes in the House of the People.
    331	Representation of the Anglo-Indian community in the House of the People.
    332	Reservation of seats for Scheduled Castes and Scheduled Tribes in the Legislative Assemblies of the States.
    333	Representation of the Anglo-Indian community in the Legislative Assemblies of the States.
    334	Reservation of seats and special representation to cease after sixty years.
    335	Claims of Scheduled Castes and Scheduled Tribes to services and posts.
    336	Special provision for Anglo-Indian community in certain services.
    337	Special provision with respect to educational grants for the benefit of Anglo-Indian Community.
    338	National Commission for Scheduled Castes.
    338A	National Commission for Scheduled Tribes.
    339	Control of the Union over the Administration of Scheduled Areas and the welfare of Scheduled Tribes
    340	Appointment of a Commission to investigate the conditions of backward classes.
    341	Scheduled Castes.
    342	Scheduled Tribes.