CURRENT AFFAIRS
USA ECONOMY
President Barack Obama presented first federal budget of his administration. It indicates significant rise in taxes levied on wealthy people while cutting taxes for working-class Americans. The budget estimates a deficit of $1.75 trillion for the current fiscal year.
SWAT VALLEY, PAKISTAN
Security forces announced a four-day ceasefire in Pakistan's tribal region bordering Afghanistan. According to Police report the Taliban terror network is spreading rapidly across Pakistan and it may be on course to strike financial and shipping hub (Karachi).
ISRAEL-GAZA
Hillary Clinton donation will be more than $900 million in humanitarian and rebuilding aid to the Palestinian Authority to help Gaza recover from the destruction.
Leaders of the rival Palestinian factions Hamas and Fatah have opened reconciliation talks in a renewed effort to create a unity government. Solving Fatah-Hamas differences is seen also as an essential step if an Israeli-Palestinian peace deal were to happen although analysts say that could be a long way off.
MUMBAI ATTACKS
Investigations in Mumbai attacks are leading to interesting results which say that VoIP (Voice Over Internet Protocol) calls made by terrorists to their handlers have been traced to a serving colonel of the Pakistani army. Also, a formal 11,000 page charge sheet of this case was presented in court on Wednesday. Pakistan has refused for any link of army to the Mumbai attacks and has sought clarifications in its report sent in response to Indian document. India said that it will respond to Pakistan's queries seeking more details, including audio recordings of conversations between the Mumbai terrorists and their handlers but it signals Pakistan to take actions first and do the talks later
BANGLADESH RIFLES (BDR)
Bangladesh rifles (Bangladesh border Guards) revolted due to complaints about pay and working conditions. This mutiny began in Dhaka and spread across the country. More than 1,000 border guards were charged Sunday with murder and arson in the uprising that left at least 148 people dead or missing, most of them army officers, after the government withdrew its promise of amnesty it made in case BDR surrenders its weapons.
Pakistani footprints are showing up in the bloody mutiny. Interrogation of some of the rebels has thrown up the name of Salauddin, a well-known business-man who is reported to be very close to the Pakistan military-intelligence and the opposition BNP.
NEWS
POLITICS
1. At a staggering Rs 10,000 crore, the Lok Sabha polls this summer would cost more than what Barack Obama and others spent in the US presidential race i.e. Rs 8000 crore.
2. The much-awaited schedule for the Lok Sabha elections was announced on Monday afternoon. The country will go to polls from April 16 to May 13. Counting of votes will be done on May 16 and the 15th Lok Sabha will be constituted by June two. Chief Election Commissioner Gopalaswami said that 124 constituencies would vote on April 16, followed by 141 on April 23, 107 on April 30, 85 on May 7 and 86 on May 13.
3. Responding to the announcement of election dates, Trinamool Congress announced an alliance with Congress in West Bengal. BJP also announced Lok Sabha poll alliance with Ajit Singh-led RLD in Maharashtra.
BUSINESS/ECONOMY
4. Finance minister Pranab Mukherjee today announced an across-the-board cut in excise and service tax rates, as part of the third stimulus package to boost the domestic economy. Goods that attract a 10 per cent excise duty will now be charged 8 per cent. Nearly 90 per cent of excise duty collection comes from the slab rate of 10 per cent which is levied on industries like metal, iron and steel, copper and aluminium and the producers are ready to pass on these benefits to consumer.
5. The Tata Nano announced roll out on March 23 and bookings for the cheapest family car will start from the second week of April.
6. After a worrying 7 per cent fall in sales in January, Maruti Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra and Honda have notched up an impressive 18.78 per cent growth in sales in February.
7. India’s rupee plunged to a record low. The currency tumbled 22 percent versus the dollar in the past 12 months. The rupee tumbled as much as 1.4 percent to an all-time low of 51.175 per dollar, before closing at 51.150. India said this month their budget deficits will more than double to 6 percent of gross domestic product. Government borrowings are set to rise to 3.06 trillion rupees in the year ending March 31, from 1.56 trillion in the previous year. Foreign-exchange reserves dropped to $249.5 billion this month, from a record $316.2 billion reached in May 2008.
8. Stock market fell to a three month low. After a whopping loss of over Rs 40,00,000 crore in 2008, the stock market is continuing its free-fall and investors have lost an average of Rs 100 crore in every five minutes of trade in first two months of 2009. Cumulatively, the total investors' wealth has got eroded by about Rs 2,82,000 crore so far this year.
9. The board of directors of Reliance Industries and Reliance Petroleum on Monday approved the merger of the two firms, creating one of the world's largest petrochemical entity and offered the shareholders of RPL one RIL share for every 16 shares held by them.
10. India on Monday lifted the ban on importing toys from China provided they conform to international safety norms. India had earlier on January 23 banned the import of Chinese toys for six months on grounds of public health and safety.
TECHNOLOGY
11. Gmail was attacked on Tuesday. The oldest trick was used to hack when thousands of machines controlled by a group of people may have been directed to access Gmail simultaneously, resulting in a crash of Gmail’s servers. Gmail went down at 2 pm IST and recovered at 6 pm IST.
12. Apart from the Planning Commission approval to ISRO's Rs 12,400-crore manned space flight programme scheduled for liftoff in 2015, the Centre has hiked the pre-project funding for the mission by about Rs 40 crore this year. The government has earmarked a total of Rs 95 crore this year towards pre-project funding activity, which essentially involves initiating more studies relating to a human space flight.
13. The keel of first Indian aircraft was laid down at cochin shipyard. This will be India’s first aircraft Carrier. Till now only US, UK, Russia and France are capable of building a 40,000 tonne aircraft carrier.
OTHERS
14. In a case related to the controversial Yellampalli irrigation project, a special court of the Bureau directed the ACB (Anti-Corruption Bureau) Director General on Friday to register a case against Andhra Pradesh chief minister Y S Rajasekhara Reddy, irrigation minister Ponnala Lakshmaiah and nine others for alleged misappropriation of public funds.
15. Filmfare awards: Major awards were bagged by Rock on and Jodha Akbar.
Best Film – Jodha Akbar
Best Actor – Hrithik Roshan, Jodha Akbar
Best Actress – Priyanka Chopra, Fashion
Best Director – Jodha Akbar
Best Music Director – A.R.Rahman, Jane tu..
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