All India Radio News Summary: 14 JANUARY 2018

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All India Radio News Summary: 14 JANUARY 2018


  1. Finance Minister says, Centre is trying to increase income of farmers through new initiatives and schemes;

Finance Minister launched the country’s first Agri-commodity Options in Guar Seed, on the occasion of Makar Sankranti in New Delhi. It is first-of-its-kind hedging tool that will prove to be a game changer for farmers.

Agri Commodity Options:

  • Agri-commodity options will benefit farmers in reaping improved price realizations for their produce, with limited downside risk.
  • Options are derivatives which give a buyer the right but not the obligation to buy or sell an underlying asset or instrument at a specific price on or before a certain date.
  • Options will protect farmers from downward price movement as well as give them an opportunity to sell their produce at higher prices in case of price increase.
  • This instrument will create a win-win situation for farmers, irrespective of the price movement.

The agri options initiative by the National Commodity and Derivatives Exchange Limited will give stakeholders a new set of financial instruments to hedge their price risks.

 

  1. Israeli Prime Minister Benjamin Netanyahu arrives in New Delhi on a six-day visit;

On the occasion of commemoration of 25 years of establishing diplomatic relations, it was decided to exchange the visits of both the Prime Ministers. Accordingly, our Prime Minister visited Israel in July last year.

  • Both the Prime Ministers will attend the 2nd India-Israel CEO Forum Meeting. Mr. Netanyahu will also participate in the Raisina Dialogue and will visit Centre of Excellence in Agriculture and iCreate in Gujarat.
  • Both the sides are expected to sign MoUs in the area of cyber, space, film production and energy.

India-Israel relations have been expanding in the area of agriculture, water, innovation, start-up, space, education and homeland security and defence.

  • India’s relationship with that country was upgraded to strategic level with special focus on agriculture and water.
  • So far, 28 Centers of Excellence in agriculture are being set up in 11 states in India under the cooperation of two sides.
  • Bilateral trade between the two countries was five billion dollars in 2016-17.
  • While the exports from India were three billion dollars, the import to India was 1.96 billion dollars.

 

  1. Makar Sankranti is being celebrated across the nation

The festival is seen as a celebration of the end of the winter solstice month and also marks the end of the winter harvest. The festival is known with different names in different parts of the country.

  • It is celebrated as Pongal in Tamil Nadu, Uttarayan in Gujarat, Bhogali Bihu in Assam and Poush Sangkranti in West Bengal.
  • In Uttar Pradesh, people are celebrating Kicheri as the bathing festival on the banks of Sangam in Allahabad.
  • In Gujarat, Uttarayan is being celebrated with religious fervour. The 7-day long international kite festival organized at various places in the state.
  • On Bhogali Bihu, people in Assam gather over bonfire, play traditional games and make merry. 
  • In Tamil Nadu, the festival is celebrated as Pongal where people worship the sun god and cattle. 
  • At Alanganallur and Palamedu near Madurai and other parts of Tamil Nadu, preparations are on for conducting the Jallikattu bull taming sport as a sequel to the festival. Strict procedures have been laid down to avoid cruelty to bulls during the game.

 

  1. Government is planning to auction over 9,400 enemy properties worth over 1 lakh crore rupees

Government is planning to auction over 9,400 enemy properties worth over 1 lakh crore rupees, with the home ministry starting the process of identifying all such estates.

  • The move comes after the amendment to the 49-year-old Enemy Property (Amendment and Validation) Act.
  • The change in the law ensured that the heirs of those who migrated to Pakistan and China during Partition and afterwards will have no claim over the properties left behind in India.
  • Among the 9,280 properties left behind by Pakistani nationals, the highest 4,991 properties are located in Uttar Pradesh followed by West Bengal which has 2,735 such estates.

 

  1. The World Economic Forum (WEF) has ranked India at 30th position on a global manufacturing index

The World Economic Forum (WEF) has ranked India at 30th position on a global manufacturing index.

  • In its first “Readiness for the future of production” report, Japan has been found to have the best structure of production.
  • It is followed by South Korea, Germany, Switzerland, China, Czech Republic and the US.
  • Among BRICS nations, Russia is ranked 35th, Brazil 41st and South Africa at 45th place. It has placed India in the Legacy group.
  • The report has been published ahead of its annual meeting in Davos, Switzerland

 

In the Indian context the report said, the country’s manufacturing sector has grown by over 7 per cent per year on average in the past three decades and accounts for 16-20 per cent of India’s GDP. It said, India has room for improvement across the drivers of production, except for demand environment where it ranks in the top 5.

 

  1. India and Britain have signed agreements on illegal Indian migrants’ return and sharing criminal records and intelligence

India and Britain have signed agreements on illegal Indian migrants’ return and sharing criminal records and intelligence. The development comes close on heels of India seeking Britain’s help in early extradition of liquor tycoon from Britain to face the law at home in connection with cases of fraud and money laundering amounting to around  9,000 crore rupees.

The memorandums of understanding (MOUs) were signed by Britain’s Minister of Immigration and Union Minister of State for Home Affairs.

  • MoU on criminal records exchange will lead to British and Indian law enforcement bodies sharing criminal records information and assist the police in protecting the public from known criminals.
  • It will also allow the courts in both countries to access more information to support tougher sentencing decisions.
  • The agreement on returns paves the way for a quicker and more efficient process for documenting and returning Indian nationals who have no right to be in Britain.

 

  1. The future challenges continue to demand greater commitments from the Indian Army

Army Chief General said, the future challenges continue to demand greater commitments from the Indian Army.

  • The Army Chief said, Army’s focus is towards infusion of technology for better capabilities in its weapon system.
  • The future challenges continue to demand greater commitment from the Indian Army. While we focus towards infusion of technology for better capabilities in our weapons systems, we should continue to upgrade the required training benchmarks for optimal exploitation of these systems.
  • Jointmenship and integration of available resource would remain to be the fundamental for success on the Battle fields.
  • While operational effectiveness to meet future challenges will remain Army’s priority, contribution to nation building initiatives remains an abiding theme.