General Affairs
The first cable-stayed bridge of north India was inaugurated by Defence Minister Manohar Parrikar on 24 December 2015. The bridge that will provide close connectivity between the three states of Jammu and Kashmir, Himachal Pradesh and Punjab, is situated at which place?
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Basholi (Kathua, JK)
This cable stayed-bridge is built on River Ravi at Basholi in Kathua district of Jammu and Kashmir. The Basohli Bridge is fourth of its kind in India. The other three cable-stayed bridges are – Hooghly Bridge at Kolkata, Naini Bridge in Allahabad and Rajiv Gandhi Sea Link in Mumbai.
- The work on this 592 m long cable-stay bridge was started in September 2011 on the demand of people of Basohli where over 22 villages were submerged in water and evacuated to other places after the construction of Ranjit Sagar dam.
- It is a joint venture of Border Roads Organization (BRO), IRCON (a Railway Company) and SP Singla Construction group.
Basholi (Kathua, JK)
This cable stayed-bridge is built on River Ravi at Basholi in Kathua district of Jammu and Kashmir. The Basohli Bridge is fourth of its kind in India. The other three cable-stayed bridges are – Hooghly Bridge at Kolkata, Naini Bridge in Allahabad and Rajiv Gandhi Sea Link in Mumbai.- The work on this 592 m long cable-stay bridge was started in September 2011 on the demand of people of Basohli where over 22 villages were submerged in water and evacuated to other places after the construction of Ranjit Sagar dam.
- It is a joint venture of Border Roads Organization (BRO), IRCON (a Railway Company) and SP Singla Construction group.
What is the new deadline for exchanging pre-2005 currency notes as announced by the Reserve Bank of India (RBI) on 23 December 2015?
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30 June 2016
The RBI on 23 December once again extended the date for exchanging pre-2005 currency notes with new ones to 30 June 2016 from 31 December 2015. This is the fifth time RBI extended the deadline that started in January 2014. The old notes, of Mahatma Gandhi series, will continue to remain legal tenders.
- Earlier, the exchange was facilitated through any bank branches, but from 1 January 2016, only a few designated branches will accept the old notes for exchange.
- The pre-2005 currency notes are being exchanged as new notes have better security features and it is a standard international practice not to have currency notes from multiple series in simultaneous circulation.
30 June 2016
The RBI on 23 December once again extended the date for exchanging pre-2005 currency notes with new ones to 30 June 2016 from 31 December 2015. This is the fifth time RBI extended the deadline that started in January 2014. The old notes, of Mahatma Gandhi series, will continue to remain legal tenders.- Earlier, the exchange was facilitated through any bank branches, but from 1 January 2016, only a few designated branches will accept the old notes for exchange.
- The pre-2005 currency notes are being exchanged as new notes have better security features and it is a standard international practice not to have currency notes from multiple series in simultaneous circulation.
Which public-sector undertaking maintained its top spot in the List of Fortune 500 Indian companies (2015) for sixth consecutive time, as disclosed in the list released on 24 December 2015?
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Indian Oil Corporation (IOC)
Indian Oil Corporation (IOC) topped the Fortune 500 List of Indian companies for 2015 with an annual revenue of Rs. 4,51,911 crore. This was the sixth consecutive time that IOC grabbed the top spot.
- Mukesh Ambani-led Reliance Industries Limited (RIL) was second in the list with full-year revenue of Rs. 3,82,565 crore. Tata Motors with a revenue of Rs. 2,67,025 crore jumped to third slot from last year’s fifth place by replacing Bharat Petroleum (BPCL). State Bank of India (SBI) moved to fourth position with an annual revenue of Rs. 2,57,289 crore, from sixth rank in 2014. Bharat Petroleum (BPCL) is ranked fifth with an annual revenue of Rs. 2,40,367 crore. It had grabbed the third spot in last year’s ranking.
- The list, which has been compiled by global business magazine Fortune’s Indian edition since 2010, said the total revenue of firms has grown a merely 2.7% and profits fell 5.9% compared with 2014.
Indian Oil Corporation (IOC)
Indian Oil Corporation (IOC) topped the Fortune 500 List of Indian companies for 2015 with an annual revenue of Rs. 4,51,911 crore. This was the sixth consecutive time that IOC grabbed the top spot.- Mukesh Ambani-led Reliance Industries Limited (RIL) was second in the list with full-year revenue of Rs. 3,82,565 crore. Tata Motors with a revenue of Rs. 2,67,025 crore jumped to third slot from last year’s fifth place by replacing Bharat Petroleum (BPCL). State Bank of India (SBI) moved to fourth position with an annual revenue of Rs. 2,57,289 crore, from sixth rank in 2014. Bharat Petroleum (BPCL) is ranked fifth with an annual revenue of Rs. 2,40,367 crore. It had grabbed the third spot in last year’s ranking.
- The list, which has been compiled by global business magazine Fortune’s Indian edition since 2010, said the total revenue of firms has grown a merely 2.7% and profits fell 5.9% compared with 2014.
What is the name of the asteroid that passed by Earth on 24 December 2015 and which came to news as some fake reports claimed that it will pose a threat to Earth?
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2003 SD220
Asteroid 2003 SD220 was its closest distance from Earth on Christmas Eve (24 December 2015) at about 10.6 million kilometers. Despite its closest approach it was not visible to the naked eye.
- Despite its small size (only about 1.24 miles, or 2 kilometers wide) and its vast distance from Earth, certain articles and news reports claimed that the asteroid will pose a threat to the Earth. NASA rubbished such claims and cleared that asteroid 2003 SD220 was at a very safe distance from our planet.
2003 SD220
Asteroid 2003 SD220 was its closest distance from Earth on Christmas Eve (24 December 2015) at about 10.6 million kilometers. Despite its closest approach it was not visible to the naked eye.- Despite its small size (only about 1.24 miles, or 2 kilometers wide) and its vast distance from Earth, certain articles and news reports claimed that the asteroid will pose a threat to the Earth. NASA rubbished such claims and cleared that asteroid 2003 SD220 was at a very safe distance from our planet.
What is the name of Malaysia’s first Islamic airline that was launched by an Indian couple on 23 December 2015?
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‘Rayani Air’
‘Rayani Air’ is the name of Malaysia’s first Islamic airline that offers Shariah compliant services including prayers before take-off, no on-flight serving of alcohol or meals with pork and a strict dress code for female flight attendants.
- It was launched by its Indian origin couple Ravi Alagendrran and his wife Karthiyani Govindan who promoted the airline.
- Rayani Air’s fleet has two Boeing 737-400 aircraft with a capacity of 188 passengers each.
‘Rayani Air’
‘Rayani Air’ is the name of Malaysia’s first Islamic airline that offers Shariah compliant services including prayers before take-off, no on-flight serving of alcohol or meals with pork and a strict dress code for female flight attendants.- It was launched by its Indian origin couple Ravi Alagendrran and his wife Karthiyani Govindan who promoted the airline.
- Rayani Air’s fleet has two Boeing 737-400 aircraft with a capacity of 188 passengers each.
Business Affairs
Sensex ends flat, Nifty holds above 7,850 in low volume trade
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Snapping the two-day long gaining spree, the S&P BSE Sensex ended the day in red on Thursday, while broader CNX Nifty held its key support level of 7,850.
Domestic markets erased early gains to weaken in low volume trade, dragged down by financials and IT stocks after RBI financial stability report raised concerns over corporate vulnerability and bad loans.
The 30-share index settled at 25,838.71, down 11.59 points, while broad-based 50-share index quoted 7,861.05, down 4.90 points at close.
Market breadth remained positive with 19 of the 30 Sensex components ending the day in green.
Bharti Airtel stock was the best performer on Sensex and added 2 per cent.
A report released by the Reserve Bank of India warned the impact of companies' weak balance sheets on the financial system needed closer monitoring.
Trading was marred by low volumes in a holiday-shortened week, and subdued trade was likely until December-end, analysts said.
"Financials are down because of concerns expressed by the RBI," said G Chokkalingam, the founder of Equinomics, a Mumbai-based research and fund advisory firm.
"Users of oil, resources will continue to lead in the midcap space in 2016, until the second quarter," added expert.
Markets will remain closed on Friday to observe Christmas.
Among Asian markets, Japan's Nikkei settled 0.51 per cent lower, while Hong Kong's Hang Seng added 0.44 per cent. China's Shanghai Composite lost 0.65 per cent.
Overnight, Wall Street ended higher helped by surging energy shares as an unexpected drop in crude oil inventories lifted beaten-down oil prices.
Snapping the two-day long gaining spree, the S&P BSE Sensex ended the day in red on Thursday, while broader CNX Nifty held its key support level of 7,850.
Domestic markets erased early gains to weaken in low volume trade, dragged down by financials and IT stocks after RBI financial stability report raised concerns over corporate vulnerability and bad loans.
The 30-share index settled at 25,838.71, down 11.59 points, while broad-based 50-share index quoted 7,861.05, down 4.90 points at close.
Market breadth remained positive with 19 of the 30 Sensex components ending the day in green.
Bharti Airtel stock was the best performer on Sensex and added 2 per cent.
A report released by the Reserve Bank of India warned the impact of companies' weak balance sheets on the financial system needed closer monitoring.
Trading was marred by low volumes in a holiday-shortened week, and subdued trade was likely until December-end, analysts said.
"Financials are down because of concerns expressed by the RBI," said G Chokkalingam, the founder of Equinomics, a Mumbai-based research and fund advisory firm.
"Users of oil, resources will continue to lead in the midcap space in 2016, until the second quarter," added expert.
Markets will remain closed on Friday to observe Christmas.
Among Asian markets, Japan's Nikkei settled 0.51 per cent lower, while Hong Kong's Hang Seng added 0.44 per cent. China's Shanghai Composite lost 0.65 per cent.
Overnight, Wall Street ended higher helped by surging energy shares as an unexpected drop in crude oil inventories lifted beaten-down oil prices.
Leading telecom operators against auction of 700 Mhz band for now
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Leading telecom operators like Airtel and Idea have asked regulator Trai not to auction the premium 700 Mhz band until enough devices are available for services that are to be provided through it.
Mukesh Ambani-led Reliance Jio, which is yet to launch its 4G services, has also suggested two-year evaluation of the ecosystem before radiowaves in this band are auctioned.
"It will be prudent to not auction the spectrum in 700 Mhz band now. A recommended approach would be to do an ecosystem evaluation in two years' time and plan the auctions accordingly," Reliance Jio Infocomm said in reply to Trai's consultation paper on value of spectrum for the next round of spectrum auction.
As per a paper of the Telecom Regulatory Authority of India, the cost of delivering mobile services in 700 Mhz band is approximately 70 per cent cheaper than 2100 Mhz band.
Telecom major Bharti Airtel said: "Any immediate auction of the spectrum in 700 Mhz band will lead to underutilisation of the spectrum for several years and block industry's fund" and therefore it should be auctioned "only after development of a strong device ecosystem".
Vodafone said that while the ecosystem in this band is developing, "necessary caution may be exercised in respect of the terms of auction, including valuation, reserve price, rollout obligations, etc".
Two telecom operators - Telenor and Tata Teleservices - have, on the other hand, have favoured the auction of spectrum in 700 Mhz band.
Telenor said the device ecosystem for APT700 Band 28 is developing at a good pace and 214 devices are already available in this band globally.
"Assuming that the auctions are concluded in first quarter or second quarter of 2016 and the allocations of spectrum happens by third or fourth quarter of 2016, telecom service providers (TSPs) in India will be ready with their 700 MHz networks by mid 2017 and there will be big momentum in APT700 eco system by that time," Telenor said.
Reliance Communications suggested that the 700 MHz price should be calculated by indexing the last auction determined price of 800 MHz and then levying a 25 per cent premium over and above the price arrived at after indexation.
A divide among telecom operators was also seen with respect to new spectrum holding limit rule proposed by the regulator.
As per present rule, spectrum cap in a frequency band is 50 per cent of the spectrum assigned in each band in the respective service area and 25 per cent of the total spectrum assigned in all bands put together in each service area.
While Reliance Jio, RCom and Sistema Shyam Teleservices favoured Trai proposal to consider 700 Mhz, 800 Mhz and 900 Mhz as one for the purpose of imposing spectrum holding limit, telecom major Airtel, Vodafone, Idea Cellular, Aircel, Telenor and Tata Teleservices voiced against it.
"RJIL believes that with liberalisation of spectrum, the intra-band spectrum caps have lost their relevance," Reliance Jio said, adding that spectrum being technology neutral, the intra-band limit has become redundant.
Airtel said that Trai to recommend increasing of overall spectrum cap from current 25 per cent to 33 per cent of the total airwaves holding but continue with 50 per cent limit in a particular band.
The telecom major said that during the last few auctions, when a substantial amount of the spectrum in 900 MHz was assigned, the operators were subjected to band specific cap.
"We believe that changing these rules midway is illegal, unconstitutional and anticompetitive. The proposed sub 1 GHz cap would only help one operator, who has not even launched its services, to grab/consolidate entire spectrum in 800 MHz band and create a non-level playing field," Airtel said.
Even GSM industry body COAI echoed opinion similar to Airtel, Vodafone and Idea Cellular on new spectrum cap rule proposal.
Leading telecom operators like Airtel and Idea have asked regulator Trai not to auction the premium 700 Mhz band until enough devices are available for services that are to be provided through it.
Mukesh Ambani-led Reliance Jio, which is yet to launch its 4G services, has also suggested two-year evaluation of the ecosystem before radiowaves in this band are auctioned.
"It will be prudent to not auction the spectrum in 700 Mhz band now. A recommended approach would be to do an ecosystem evaluation in two years' time and plan the auctions accordingly," Reliance Jio Infocomm said in reply to Trai's consultation paper on value of spectrum for the next round of spectrum auction.
As per a paper of the Telecom Regulatory Authority of India, the cost of delivering mobile services in 700 Mhz band is approximately 70 per cent cheaper than 2100 Mhz band.
Telecom major Bharti Airtel said: "Any immediate auction of the spectrum in 700 Mhz band will lead to underutilisation of the spectrum for several years and block industry's fund" and therefore it should be auctioned "only after development of a strong device ecosystem".
Vodafone said that while the ecosystem in this band is developing, "necessary caution may be exercised in respect of the terms of auction, including valuation, reserve price, rollout obligations, etc".
Two telecom operators - Telenor and Tata Teleservices - have, on the other hand, have favoured the auction of spectrum in 700 Mhz band.
Telenor said the device ecosystem for APT700 Band 28 is developing at a good pace and 214 devices are already available in this band globally.
"Assuming that the auctions are concluded in first quarter or second quarter of 2016 and the allocations of spectrum happens by third or fourth quarter of 2016, telecom service providers (TSPs) in India will be ready with their 700 MHz networks by mid 2017 and there will be big momentum in APT700 eco system by that time," Telenor said.
Reliance Communications suggested that the 700 MHz price should be calculated by indexing the last auction determined price of 800 MHz and then levying a 25 per cent premium over and above the price arrived at after indexation.
A divide among telecom operators was also seen with respect to new spectrum holding limit rule proposed by the regulator.
As per present rule, spectrum cap in a frequency band is 50 per cent of the spectrum assigned in each band in the respective service area and 25 per cent of the total spectrum assigned in all bands put together in each service area.
While Reliance Jio, RCom and Sistema Shyam Teleservices favoured Trai proposal to consider 700 Mhz, 800 Mhz and 900 Mhz as one for the purpose of imposing spectrum holding limit, telecom major Airtel, Vodafone, Idea Cellular, Aircel, Telenor and Tata Teleservices voiced against it.
"RJIL believes that with liberalisation of spectrum, the intra-band spectrum caps have lost their relevance," Reliance Jio said, adding that spectrum being technology neutral, the intra-band limit has become redundant.
Airtel said that Trai to recommend increasing of overall spectrum cap from current 25 per cent to 33 per cent of the total airwaves holding but continue with 50 per cent limit in a particular band.
The telecom major said that during the last few auctions, when a substantial amount of the spectrum in 900 MHz was assigned, the operators were subjected to band specific cap.
"We believe that changing these rules midway is illegal, unconstitutional and anticompetitive. The proposed sub 1 GHz cap would only help one operator, who has not even launched its services, to grab/consolidate entire spectrum in 800 MHz band and create a non-level playing field," Airtel said.
Even GSM industry body COAI echoed opinion similar to Airtel, Vodafone and Idea Cellular on new spectrum cap rule proposal.
Reliance Infra in advanced talks to sell cement unit for Rs 2600 crore
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Reliance Infrastructure is in advanced talks to sell its cement business for Rs 2600 crore ($394 million) and a deal could be announced as soon as this week, said a source with direct knowledge of the matter.
Under the terms of the deal, the buyer would also take over the cement unit's outstanding debt of 24 billion rupees, giving the business an enterprise value of 50 billion rupees, the source told Reuters, declining to be identified ahead of a public announcement.
A spokesman for the Reliance Group, a diversified conglomerate whose business interests range from telecoms to finance and infrastructure building, declined to comment.
Reliance Infrastructure's cement unit has three plants with total installed capacity of 5.8 million tonne per annum (MTPA). Another 5 MTPA cement manufacturing plant is being developed in western Maharashtra state, according to its website.
A consortium, which includes some private equity firms, is likely to emerge as the successful bidder for the unit, said the source, adding seven bidders had been shortlisted earlier and that the sale proceeds would be used to pare the group's debt.
Bloomberg earlier on Wednesday reported, citing people familiar with the matter, that Reliance Infrastructure was in talks with cement makers as well as private equity firms including Blackstone Group LP and Carlyle Group LP for the sale.
Reliance Infrastructure is in advanced talks to sell its cement business for Rs 2600 crore ($394 million) and a deal could be announced as soon as this week, said a source with direct knowledge of the matter.
Under the terms of the deal, the buyer would also take over the cement unit's outstanding debt of 24 billion rupees, giving the business an enterprise value of 50 billion rupees, the source told Reuters, declining to be identified ahead of a public announcement.
A spokesman for the Reliance Group, a diversified conglomerate whose business interests range from telecoms to finance and infrastructure building, declined to comment.
Reliance Infrastructure's cement unit has three plants with total installed capacity of 5.8 million tonne per annum (MTPA). Another 5 MTPA cement manufacturing plant is being developed in western Maharashtra state, according to its website.
A consortium, which includes some private equity firms, is likely to emerge as the successful bidder for the unit, said the source, adding seven bidders had been shortlisted earlier and that the sale proceeds would be used to pare the group's debt.
Bloomberg earlier on Wednesday reported, citing people familiar with the matter, that Reliance Infrastructure was in talks with cement makers as well as private equity firms including Blackstone Group LP and Carlyle Group LP for the sale.
Honda Cars registers 14% sales growth this year
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Honda Cars India (HCIL) has recorded a cumulative sales growth of 14.9 per cent at 1.90 lakh units during the January-November period this year.
"HCIL has grown by 14.9 per cent during the January- November 2015 with cumulative sales of 1,90,024 units as against 1,65,388 units for the corresponding period last year," Jnaneswar Sen, Senior Vice President, Sales and Marketing, Honda Cars India, told reporters here.
The company sells hatchback Jazz and Brio, sedans City and Amaze, MPV Mobilio and premium SUV CR-V in India.
HCIL has sold over 1,90,000 units till November this year with sales coming through strong performances of its products including the City, Amaze and Jazz. The company had sold 1,79,816 units in 2014, he said.
During the last 2 years, Honda has expanded its product line-up and introduced new models in new segments, resulting in engagement with a younger customer base.
In order to suit the customers' digital-based life styles, the manufacturer recently launched Honda Connect - an intelligent and advanced information platform for customers.
Earlier this year, the company had launched the third generation of its premium hatchback Jazz in July.
Since its launch, the third generation Honda Jazz has sold more than 27,041 units in the Indian market. The product has been extremely well received, especially among the youth.
A large chunk of Jazz customers are first-time buyers.
HCIL presently has 263 dealerships in 172 cities, with efforts on to take it to 300 by the end of this fiscal.
Honda Cars India (HCIL) has recorded a cumulative sales growth of 14.9 per cent at 1.90 lakh units during the January-November period this year.
"HCIL has grown by 14.9 per cent during the January- November 2015 with cumulative sales of 1,90,024 units as against 1,65,388 units for the corresponding period last year," Jnaneswar Sen, Senior Vice President, Sales and Marketing, Honda Cars India, told reporters here.
The company sells hatchback Jazz and Brio, sedans City and Amaze, MPV Mobilio and premium SUV CR-V in India.
HCIL has sold over 1,90,000 units till November this year with sales coming through strong performances of its products including the City, Amaze and Jazz. The company had sold 1,79,816 units in 2014, he said.
During the last 2 years, Honda has expanded its product line-up and introduced new models in new segments, resulting in engagement with a younger customer base.
In order to suit the customers' digital-based life styles, the manufacturer recently launched Honda Connect - an intelligent and advanced information platform for customers.
Earlier this year, the company had launched the third generation of its premium hatchback Jazz in July.
Since its launch, the third generation Honda Jazz has sold more than 27,041 units in the Indian market. The product has been extremely well received, especially among the youth.
A large chunk of Jazz customers are first-time buyers.
HCIL presently has 263 dealerships in 172 cities, with efforts on to take it to 300 by the end of this fiscal.
2015: The Make in India Year
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If there was one common agenda that Prime Minister Narendra Modi tried to pursue during his visits to 27 foreign countries this year, it was undoubtedly his campaign to promote India as a manufacturing base. The "Make in India" campaign has been the most high-profile international propaganda carried out by the Central government in 2015.
The government claims that the campaign, launched globally in September, 2014, has made an impact on the investment climate of the country in the past 15 months.
Though it is too early to quantify the impact - some of the investments were announced before the launch of the campaign and some are still promises - the government is leaving no stone unturned to proclaim the success of "Make in India".
One of the oft-quoted positive impacts of the campaign is the increase in foreign direct investment (FDI). India attracted $31 billion of FDI in the first half of 2015, ahead of $28 billion of China and $27 billion of the US.
"The growth in FDI has been significant after the launch of Make in India initiatives, with a 48 per cent increase in FDI equity inflows during October 2014 to April 2015 over the corresponding period last year," claims Amitabh Kant, secretary, Department of Industrial Policy and Promotion (DIPP), the government agency in charge of the Make in India campaign.
The electronics systems design and manufacturing (ESDM) market is one area where the government claims to have received tremendous investment interest during 2015.
Foxconn's intention of investing over $5 billion in India and announcements made by the likes of Xiaomi, Cisco, LG, BrightSKY, Philips, Thomson, Samsung, LG, Flextronics and Quanta are all being highlighted as proof of this interest.
Retail segment is next. IKEA's plans to open 25 stores across India, entailing an outlay of Rs 12,500 crore and entry and expansion plans of GAP, Wal-Mart and H&M group, etc are the ones that are highlighted.
The government is also taking credit for the announcements of investment plans from auto sector companies such as General Motors, Volvo, Fiat, Daimler-Benz, etc. and solar energy players such as Softbank, Foxconn and Bharti Enterprises. The plans of defence sector entities like Dassault, Boeing and Airbus to invest in India have also been highlighted. Bullet train link between Ahmedabad and Mumbai using Japan's Shinkansen bullet train technology and Bombardier's Make in India plans for rolling stock are the major examples cited from the infrastructure sector.
Investment plans of food processing companies and firms in the insurance sector are all brought under the single Make in India campaign umbrella to enhance its positive impact.
While "Make in India" will definitely be the most talked about campaign of the year, the fact remains that "making in India" has not been so promising during 2015.
As the mid-term review of the economy carried out by the finance ministry shows, growth in capital goods imports, which partially proxies for investment, has decelerated sharply from about 12 per cent in April 2015 to barely positive territory. Commodities such as steel, iron, aluminium and cement are all doing less well.
The overall Index of Industrial Production (IIP) has grown marginally faster in the first six months of this year because of the good performance of power, fertilisers and automobile sectors.
The eight core infrastructure supportive industries, with an overall weight of 37.9 per cent in IIP, registered a year-on-year growth of 2.3 per cent during April-September 2015/16 as against the growth of 5.1 per cent during the corresponding period of the previous financial year. The decrease in growth rate during April-September 2015 can be attributed to lower growth in electricity, coal and cement sectors and negative growth in steel and natural gas sectors.
The success of the "Make in India" campaign will be gauged by the success of Indian manufacturing in the coming years.
If there was one common agenda that Prime Minister Narendra Modi tried to pursue during his visits to 27 foreign countries this year, it was undoubtedly his campaign to promote India as a manufacturing base. The "Make in India" campaign has been the most high-profile international propaganda carried out by the Central government in 2015.
The government claims that the campaign, launched globally in September, 2014, has made an impact on the investment climate of the country in the past 15 months.
Though it is too early to quantify the impact - some of the investments were announced before the launch of the campaign and some are still promises - the government is leaving no stone unturned to proclaim the success of "Make in India".
One of the oft-quoted positive impacts of the campaign is the increase in foreign direct investment (FDI). India attracted $31 billion of FDI in the first half of 2015, ahead of $28 billion of China and $27 billion of the US.
"The growth in FDI has been significant after the launch of Make in India initiatives, with a 48 per cent increase in FDI equity inflows during October 2014 to April 2015 over the corresponding period last year," claims Amitabh Kant, secretary, Department of Industrial Policy and Promotion (DIPP), the government agency in charge of the Make in India campaign.
The electronics systems design and manufacturing (ESDM) market is one area where the government claims to have received tremendous investment interest during 2015.
Foxconn's intention of investing over $5 billion in India and announcements made by the likes of Xiaomi, Cisco, LG, BrightSKY, Philips, Thomson, Samsung, LG, Flextronics and Quanta are all being highlighted as proof of this interest.
Retail segment is next. IKEA's plans to open 25 stores across India, entailing an outlay of Rs 12,500 crore and entry and expansion plans of GAP, Wal-Mart and H&M group, etc are the ones that are highlighted.
The government is also taking credit for the announcements of investment plans from auto sector companies such as General Motors, Volvo, Fiat, Daimler-Benz, etc. and solar energy players such as Softbank, Foxconn and Bharti Enterprises. The plans of defence sector entities like Dassault, Boeing and Airbus to invest in India have also been highlighted. Bullet train link between Ahmedabad and Mumbai using Japan's Shinkansen bullet train technology and Bombardier's Make in India plans for rolling stock are the major examples cited from the infrastructure sector.
Investment plans of food processing companies and firms in the insurance sector are all brought under the single Make in India campaign umbrella to enhance its positive impact.
While "Make in India" will definitely be the most talked about campaign of the year, the fact remains that "making in India" has not been so promising during 2015.
As the mid-term review of the economy carried out by the finance ministry shows, growth in capital goods imports, which partially proxies for investment, has decelerated sharply from about 12 per cent in April 2015 to barely positive territory. Commodities such as steel, iron, aluminium and cement are all doing less well.
The overall Index of Industrial Production (IIP) has grown marginally faster in the first six months of this year because of the good performance of power, fertilisers and automobile sectors.
The eight core infrastructure supportive industries, with an overall weight of 37.9 per cent in IIP, registered a year-on-year growth of 2.3 per cent during April-September 2015/16 as against the growth of 5.1 per cent during the corresponding period of the previous financial year. The decrease in growth rate during April-September 2015 can be attributed to lower growth in electricity, coal and cement sectors and negative growth in steel and natural gas sectors.
The success of the "Make in India" campaign will be gauged by the success of Indian manufacturing in the coming years.
General Awareness
Current Affairs Quiz
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1. Which of the following state government on 24 November 2015 decided to launch Gopinath Munde Farmers Accident Insurance Scheme 2015-16?
a) Gujarat
b) Jharkhand
c) Maharashtra
d) Madhya Pradesh
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2. Which of the following state on 24 November 2015 declared 231 mandals as drought-hit?
a) Bihar
b) Telangana
c) Madhya Pradesh
d) Maharashtra
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3. The Thirteenth ASEAN-India Summit with the theme Our People, Our Community, Our Vision was held on 21 November 2015 in
a) Nay Pyi Taw, Myanmar
b) Kuala Lumpur, Malaysia
c) Lao PDR
d) Bangkok, Thailand
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4. Who of the following on 22 November 2015 chaired the 10th East Asia Summit (EAS) that was held in Kuala Lumpur, Malaysia?
a) Najib Razak
b) Narendra Modi
c) U Thein Sein
d) Prayut Chan-o-cha
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5. India and Singapore Joint Statement on a Strategic Partnership that was released on 24 November 2015 during the visit of Prime Minister Narendra Modi to Singapore was titled
a) New Vigour, New Steps
b) Renewed Spirit, New Energy
c) Our People, Our Community, Our Vision
d) Shared Effort; Progress for All
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6. Name the Indian freedom fighter after whose name the Indian cultural centre in Kuala Lumpur would be named.
a) Vallabhbhai Jhaverbhai Patel
b) Bhagat Singh
c) Subhas Chandra Bose
d) Chandra Shekhar Azad
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7. Name the Gate that was jointly inaugurated in Kuala Lampur by Prime Minister of India and Malaysia Najib Razak during Modi’s visit to Malaysia.
a) Torana Gate
b) Klang Gates
c) Istana Negara Gate
d) A' Famosa Gate
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8. The Ministry of Railways on 24 November 2015 signed the Assured Off Take Agreements (AOT) with which company for manufacturing and rehabilitation of wagons at Kulti, West Bengal?
a) SAIL-RITES Bengal Wagon Industry Pvt Ltd
b) Bengal Chemicals & Pharmaceuticals
c) Bharat Wagon & Engg Company
d) Electronics Corporation of India
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9. Who was appointed as Chairman of Readership Studies Council of India (RSCI) on 24 November 2015?
a) Hormusji Cama
b) CVL Srinivas
c) Shashi Sinha
d) Piyush Mittal
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10. Name the distinguished football administrator from Tamil Nadu who died on 24 November 2015.
a) TS Papola
b) TR Govindarajan
c) Ravikumar David
d) Rohit Ramesh
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11. Name the indigenously developed supersonic interceptor missile that was test-fired from the Abdul Kalam Island off the Odisha coast on 22 November 2015.
a) Advanced Air Defence missile
b) Prithvi Air Defence missile
c) Sagarika/K-15 missile
d) Akash Surface-to-Air Missile
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12. Who was appointed as the chairperson of the Target Olympic Podium Scheme (TOPS) on 24 November 2015 by the Union Ministry of Sports?
a) Pullela Gopichand
b) Anurag Thakur
c) Abhinav Bindra
d) Anju Bobby George
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13. Which one the following is not the part of 10 new/revised schemes launched by the Union Ministry of Social Justice and Empowerment on 24 November 2015 for the disabled persons?
a) NIRAMAYA
b) SAMBHAV
c) GYAN PRABHA
d) PRAKASH
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14. Name the writer, columnist and journalist who passed away on 24 November 2015 in Gurgaon, Haryana at the age of 85.
a) Shashi Sinha
b) Piyush Mitta
c) Mahip Singh
d) Rohit Ramesh
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15. Who won the Infosys Prize for the year 2015 in the Life Sciences category that was announced by the Infosys Science Foundation on 16 November 2015?
a) Prof Umesh Waghmare
b) Prof Mahan Mj
c) Dr Amit Sharma
d) Prof G Ravindra Kumar
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Answers
1-(c) 6-(c) 11-(a)
2-(b) 7-(a) 12-(d)
3-(b) 8-(a) 13-(d)
4-(a) 9-(b) 14-(c)
5-(b) 10-(b) 15-(c)
- 1. Which of the following state government on 24 November 2015 decided to launch Gopinath Munde Farmers Accident Insurance Scheme 2015-16?a) Gujaratb) Jharkhandc) Maharashtrad) Madhya Pradesh---------------------------------------------------------------
2. Which of the following state on 24 November 2015 declared 231 mandals as drought-hit?a) Biharb) Telanganac) Madhya Pradeshd) Maharashtra---------------------------------------------------------3. The Thirteenth ASEAN-India Summit with the theme Our People, Our Community, Our Vision was held on 21 November 2015 ina) Nay Pyi Taw, Myanmarb) Kuala Lumpur, Malaysiac) Lao PDRd) Bangkok, Thailand---------------------------------------------------------4. Who of the following on 22 November 2015 chaired the 10th East Asia Summit (EAS) that was held in Kuala Lumpur, Malaysia?a) Najib Razakb) Narendra Modic) U Thein Seind) Prayut Chan-o-cha---------------------------------------------------------5. India and Singapore Joint Statement on a Strategic Partnership that was released on 24 November 2015 during the visit of Prime Minister Narendra Modi to Singapore was titleda) New Vigour, New Stepsb) Renewed Spirit, New Energyc) Our People, Our Community, Our Visiond) Shared Effort; Progress for All---------------------------------------------------------6. Name the Indian freedom fighter after whose name the Indian cultural centre in Kuala Lumpur would be named.a) Vallabhbhai Jhaverbhai Patelb) Bhagat Singhc) Subhas Chandra Bosed) Chandra Shekhar Azad---------------------------------------------------------7. Name the Gate that was jointly inaugurated in Kuala Lampur by Prime Minister of India and Malaysia Najib Razak during Modi’s visit to Malaysia.a) Torana Gateb) Klang Gatesc) Istana Negara Gated) A' Famosa Gate---------------------------------------------------------8. The Ministry of Railways on 24 November 2015 signed the Assured Off Take Agreements (AOT) with which company for manufacturing and rehabilitation of wagons at Kulti, West Bengal?a) SAIL-RITES Bengal Wagon Industry Pvt Ltdb) Bengal Chemicals & Pharmaceuticalsc) Bharat Wagon & Engg Companyd) Electronics Corporation of India---------------------------------------------------------9. Who was appointed as Chairman of Readership Studies Council of India (RSCI) on 24 November 2015?a) Hormusji Camab) CVL Srinivasc) Shashi Sinhad) Piyush Mittal---------------------------------------------------------
10. Name the distinguished football administrator from Tamil Nadu who died on 24 November 2015.a) TS Papolab) TR Govindarajanc) Ravikumar Davidd) Rohit Ramesh---------------------------------------------------------11. Name the indigenously developed supersonic interceptor missile that was test-fired from the Abdul Kalam Island off the Odisha coast on 22 November 2015.a) Advanced Air Defence missileb) Prithvi Air Defence missilec) Sagarika/K-15 missiled) Akash Surface-to-Air Missile---------------------------------------------------------12. Who was appointed as the chairperson of the Target Olympic Podium Scheme (TOPS) on 24 November 2015 by the Union Ministry of Sports?a) Pullela Gopichandb) Anurag Thakurc) Abhinav Bindrad) Anju Bobby George---------------------------------------------------------13. Which one the following is not the part of 10 new/revised schemes launched by the Union Ministry of Social Justice and Empowerment on 24 November 2015 for the disabled persons?a) NIRAMAYAb) SAMBHAVc) GYAN PRABHAd) PRAKASH---------------------------------------------------------14. Name the writer, columnist and journalist who passed away on 24 November 2015 in Gurgaon, Haryana at the age of 85.a) Shashi Sinhab) Piyush Mittac) Mahip Singhd) Rohit Ramesh---------------------------------------------------------15. Who won the Infosys Prize for the year 2015 in the Life Sciences category that was announced by the Infosys Science Foundation on 16 November 2015?a) Prof Umesh Waghmareb) Prof Mahan Mjc) Dr Amit Sharmad) Prof G Ravindra Kumar---------------------------------------------------------Answers1-(c) 6-(c) 11-(a)2-(b) 7-(a) 12-(d)3-(b) 8-(a) 13-(d)4-(a) 9-(b) 14-(c)5-(b) 10-(b) 15-(c)
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