Union Government modernizes NIC-1987 to NIC-2008
Union Ministry of Commerce and Industry upgraded the National Industrial Classification -1987 (NIC-1987) to NIC-2008.
The upgrade to NIC-2008 will facilitate new businesses as it is more investor friendly and more in sync with international practices as compared to the older version of NIC Code.
It provides a more modern industrial classification system in line with changes in the structure and composition of the economy and changing user requirements and compatibility with international standards.
It provides a more modern industrial classification system in line with changes in the structure and composition of the economy and changing user requirements and compatibility with international standards.
National Industrial Classification
NIC is used for the purpose of classification of activities in respect of industrial license/ IEM proposals submitted to the Department of Industrial Policy & Promotion. It is an essential statistical benchmark for developing and maintaining comparable database as per economic activities. Such classifications are often used in classifying the economically active population, statistics of industrial production and distribution, the different fields of labor statistics and other economic data such as national income. India’s Central Statistical Organization (CSO) has been finalizing NIC since 1960.
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Over 1 million children in India are out of school: UN report
As per a United Nations Educational, Scientific and Cultural Organization (UNESCO) report, India, Indonesia and Pakistan each have more than a million children out of school. According to the UNECO report:
Globally, around 58 million kids aged 6 to 11 are out of school. This shows little overall improvement since 2007.
India had 1.4 million unschooled children in 2011 but the country is among 17 other nations that have managed to decrease the number of unschooled children in the past decade.
The aid sanctioned to education has further reduced combined with the lack of progress in reducing out of school numbers.
With these disappointing figures, there is little chance of countries reaching the goal of Universal Primary Education by 2015.
Jean-Claude Juncker will be next president of European Commission
Backed by most EU leaders, Jean-Claude Juncker has been nominated as the next president of the European Commission. The development is a severe impact on opponent David Cameron and threatens to amplify the chances of Britain leaving the European Union (EU).
The British PM David Cameron was opposed to Juncker’s nomination and said it may hamper his efforts to keep Britain in the EU ahead of an in-out referendum to be conducted in 2017.
Former Luxembourg PM, Juncker, was supported by all EU member states except Hungary and Britain.
Chung Hung Won retained as PM of S Korea
South Korea has retained Chung Hung Won as its Premier. The President ofSouth Korea, Park Geun-Hye announced the decision to retain the Chung Hung Won as country’s PM.
Won had resigned taking the responsibility of government’s inability and untimely response to the ferry disaster that happened in April 2014. President Park accepted the resignation and asked him to remain in the job until new Prime Minister takes over.
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