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23 June 2014

Current Affairs: June 2, 2014

IAF Mountaineering Team explored Mt Garud Parvat an unclimbed peak in Arunachal Pradesh

Indian Air Force launched a mountaineering excursion to Gorichen region ofArunachal Pradesh with a goal to discover and climb unclimbed peaks. The team led by Wg Cdr D Panda, included 15 air warriors. After widespread search and scouting, the team summited an unclimbed peak of height 5887M. It was a exciting and exhausting task for the team to discover unexplored terrain and find a way up the mountain peak. This was the very first time that IAF has attempted an exploration into this area of Eastern Himalayas.
The peak lies on the west of Mt Gorichen and has been named as ‘Mt GarudParvat’ by the IAF team who ascended it for the first time in history.

CSO releases provisional estimates of national income for the financial year 2013-14

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, released the provisional estimates of national income for the financial year 2013-14 and the quarterly estimates of Gross Domestic Product (GDP) for the fourth quarter (January-March) of 2013-14, both at constant (2004-05) and current prices.It also released corresponding annual and quarterly estimates of Expenditure components of the GDP in current and constant (2004-05) prices, namely the private final consumption expenditure, government final consumption expenditure, gross fixed capital formation, change in stocks, valuables, and net exports.
GDP growth rates for 2013-14 and Q1,Q2,Q3 and Q4 of 2013-14 at constant (2004-05) and current prices are given below:
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Provisional Estimates of the National Income 2013-14:
On February 7, 2014, the advance estimates of national income for the year 2013-14 were released . They have now been revised including now the latest estimates of agricultural production, index of industrial production and performance of key sectors like, railways, transport other than railways, communication, banking,insurance and government expenditure.
Estimates at constant (2004-05) prices:
  • GDP at factor cost at constant (2004-05) prices in the year 2013-14 is now estimated at Rs 57.42 lakh crore (as against  Rs 57.49 lakh crore estimated earlier on February 7, 2014), showing a growth rate of 4.7% (as against 4.9%t estimated earlier) over the First Revised Estimates of GDP for the year 2012-13 of Rs 54.82 lakh crore, released on January 31, 2014. 
  • Gross National Income (GNI) at factor cost at 2004-05 prices is now estimated at Rs 56.74 lakh crore (as compared to Rs 56.81 lakh crore estimated on February 7, 2014), during 2013-14, as against the previous year’s First Revised Estimate of Rs 54.17 lakh crore.
  • In terms of growth rates, the GNI is estimated to have risen by 4.7% during 2013-14, in comparison to the growth rate of 4.1 % in 2012-13.
  • Per capita net national income in real terms (at 2004-05 prices) during 2013-14 is estimated to have attained a level of Rs 39,904 (as against Rs 39,961 estimated on February 7, 2014), as compared to the First Revised Estimates for the year 2012-13 of Rs 38,856. The growth rate in per capita income is estimated at 2.7% during 2013-14 as against 2.1% during 2012-13.
Estimates at current prices:
  • GDP at factor cost at current prices in the year 2013-14 is estimated at Rs 104.73 lakh crore, showing a growth rate of 11.5% over the First Revised Estimates of GDP for the year 2012-13 of Rs 93.89 lakh crore, released on January 31, 2014.
  • Gross National Income (GNI) at factor cost at current prices is now estimated at Rs 103.45 lakh crore during 2013-14, as compared to Rs 92.72 lakh crore during 2012-13, showing a rise of 11.6%.
  • Per capita income at current prices during 2013-14 is estimated to have attained a level of Rs 74,380 as compared to the First Revised Estimates for the year 2012-13 of Rs 67,839 showing a rise of 9.6%.

Telangana now officially 29th state of India

Telangana formally became the country’s 29th state of India and Telangana Rashtra Samithi (TRS) chief K Chandrasekhar Rao (KCR) took oath as Telangana’s first Chief Minister. Telangana consists of the 10 north-western districts of Andhra Pradesh.
Backgrounder:
In the history of India, it happened for the first time that outside Hindi and Bengali speaking areas, 2 states speaking the same language have been created (Telangana and AP are both Telugu speaking states. In addition to more than one Hindi speaking state, there are two Bengali speaking states: West Bengal and Tripura.
This essentially challenges the roots (the linguistic basis of states in which language being believed as the measure for a similar culture) on which during the first decade after Independence, the internal map of the Indian Union was re-drawn. This essentially now leaves a space for an additional exercise to redraw the internal map of India.
Albeit there was a request for a combined Telugu state even previous to our Independence, the Nehru-led regime formed AP (Andhra Pradesh) owing to vested political interests of the Congress leaders. Now, History has completed a circle.
The Congress faced a hard electoral contest from the Communists in the Andhra state that was in 1953 sliced out of the Telugu speaking regions of then Madras state. Thus, it was settled to combine Andhra with the Telugu speaking parts of the territory of the ousted Nizam of Hyderabad, so as to form a bigger state where the communists could be whitewashed.
The next unspoken motive of the Nehru regime was that, after being humiliated by the experience of the integration of Kashmir it, didn’t desire to let away the regions of the Nizam as they were. Consequently, whilst the Telugu language parts went to Andhra Pradesh, the Marathi and Kannada language parts went to Bombay and Mysore provinces.
This workout proved good for the Congress as it shaped a monopoly for the Congress in the 1977 post-Emergency elections. Albeit at the national level the Congress was badly beaten yet it won 41 of the 42 seats in Andhra Pradesh. The subsequent year, Indira Gandhi sailed back to the Lok Sabha from Medak.
But the Congress CMs (Chief Ministers) did nothing to encourage rural empowerment. The only CM (Mr. Narasimha Rao) who tried something, confronted resistance from vested interests and was sacked. Thus, rising rural anger led to Maoism in these areas.
In 1983, the Congress was substituted by the NT Rama Rao’s TDP (Telugu Desam Party). The son-in-law of Rama Rao, Chandrababu Naidu, became the first CM all ever in India to hold on to economic developments. Chandrababu Naidu soon turned capital city Hyderabad into an IT hub. But the rural areas were ignored and suicide by farmers rose. Shortly an isolated drive started in the state with the people of Telangana supposing that they would be well off as an independent state. Thus in 2004, Chandrababu Naidu was substituted by Congressman Y.S. Rajasekhara Reddy. Reddy began a rule of “free-ships” (viz. free electricity, fee refunds to students, free houses, free medical care et al). Albeit these efforts taxed the exchequer but transformed into significant electoral gains for the Congress, permitting it to make a government at the centre. Subsequent to the sudden death of YSR, the Congress went into a panic state. In 2014, in order to benefit on apparent political gain, Congress passed a bill to split the state. Unluckily for the Congress, the attempt proved futile to gain it political bonus and it was deeply rejected in both areas.

Anand Mahindra first Indian to be honoured with Harvard Medal

Mahindra Group Chairman Anand G Mahindra became the first Indian to be honoured with the prestigious Harvard Medal for his ‘dedication, generosity and service’ to the university. In 1977, Mahindra is an alumnus of the HarvardUniversity. He graduated with Honours (Magna Cum Laude) from Harvard College, Cambridge, Massachusetts. He completed his MBA from the Harvard Business School, Boston, Massachusetts in 1981.
Mahindra is the Co-founder of the Harvard Business School (HBS) Association ofIndia and he is also a instituting member of the university’s South Asia Institute (SAI), the HBS India Research Center, and the SAI field office in Mumbai, India. In 2010, Mahindra made a gift of $10 million to the Humanities Centre which was then renamed the Mahindra Humanities Center in honor of his mother, Indira Mahindra.

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