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Updates and Current Affairs for November - Part 1

NOVEMBER -  part 1

ü Delhi waives VAT on fertilizers – including pesticides, weedicides and insecticides and bio-inputs like bio-fertilizers and micro nutrients.

ü Moody’s degraded the whole Indian Banking System from stable to negative, for the reasons of increasing NPAs and weaker capital ratios. NPAs of public sector bank as of March 2011 stood at 2.31% as against 2.27% in March 2010.

ü S&P differed with Moody’s over the rating on Indian banking sector and in fact upgraded it, saying its domestic regulations were in line with international standards & that Reserve Bank has moderately successful record.

ü The ministry of environment and forests has allowed traditional sand mining in 11 coastal states and UTs subject to certain conditions. Traditional coastal communities would only be allowed to remove the sand bars and that too manually on non-mechanised boats using baskets or buckets.

ü India officially assumed the chair of IOR-ARC from Yemen. India’s trade with IOR-ARC touches $280 billion.

ü Dalits enetered Madurai temple after two long decades and offered prayers at Sri Muthalamman, Sri Mariamman temple. (Not imp)

ü Autobiography by Vinod Mehta – Lucknow Boy

ü 17th SAARC summit held at Addu in Maldives. Dr Manmohan Singh predicting a longer period for recovery of the world economy urged to intensify trade. India responded by cutting down its tariff lines from 480 to 25 for the Least Developed Countries which are eligible for zero basic custom duty. Prime Minister suggested giving priority to Regional Railway Agreement and a Motor Vehicle Agreement. India also discussed to move towards Preferential Trade Agreement with Pakistan.

ü  There has been alarming rise in farmer suicides in Andhra Pradesh. Cotton sowing area in the state is Rs 47 lakhs which accounts for nearly 25% of the total area. The serious crop failure coupled with heavy debt and that too from informal and unorganised sources created heavy burden on the already stressed farmers.

ü A Public awareness Programme ‘Shiksha ka Haq’ was inaugurated in the presence of Lok Sabha Speaker Miera Kumar.

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