National:
Union Government launches GIAN Scheme to boost higher education
Union Ministry of Human Resource Development (HRD) has launched Global Initiative of Academic Networks (GIAN) Scheme to boost the quality of higher education in India. It was launched by Union HRD Minister Smriti Irani at the Indian Institute of Technology (IIT) campus.
About Global Initiative of Academic Networks (GIAN)
Scheme GIAN Scheme aims at improving the quality of higher education in the country through international collaboration.
Facilitate participation of high quality international academicians for delivering short-term courses and programs in Indian institutions.
Initially 500 international faculties will be engaged in conducting courses and later in subsequent years 1000 faculties would be engaged under GIAN throughout India.
Under this scheme, academicians will cover 13 disciplines and 352 courses to be taught in 68 national institutions.
These courses will vary in duration from one to three weeks depending on the subject and will be free for students of the host institution and available for nominal fees for others.
These courses will be webcasted live for students across the country through web portal www.gian.iitkgp.ac.in designed by IIT Kharagpur.
President gives assent to Labour Laws (Gujarat Amendment) Bill, 2015
President Pranab Mkherjee has given his assent to The Labour Laws (Gujarat Amendment) Bill, 2015.
The Amendment Bill passed by the state assembly to amend 10 Acts dealing with labour laws including The Industrial Disputes Act, 1947 and The Minimum Wages Act, 1948.
Key facts
The Labour Laws (Gujarat Amendment) Bill, 2015 was passed by state assembly to give impetus to industrialisation in state.
Ban strikes: Empowers state government to ban strikes in public utility services for upto 1 year for first time. This ban can be subsequently extended upto 2 years for any number of times.
Dispute Settlement: Add provision for out of court settlement between the labourers and management by paying certain fee to the government.
Redefine contractors: Amends the definition of contractor to include outsourcing agencies, which in some cases is government itself.
Payment of wages: Mandatory to be paid by cheque instead of cash for establishments employing 20 persons or more.
Empower employers to change nature of jobs of the employees without prior notice.
Lifts restrictions on sacking of workers and payment of compensation for industrial units located in Special Investment Regions (SIR) and National Investment and Manufacturing Zones (NIMZ) permitted under Special Economic Zones (SEZs).
Jharkhand Government declares entire state as drought hit
Jharkhand government has declared the entire state as drought hit in view of less rainfall in 2015 monsoon season and loss of crops.
Decision in this regard was taken at the state Cabinet meeting presided by Chief Minister Raghuvar Das in Ranchi following Agriculture department’s report on drought.
In its report state Agriculture department has reported that 64 blocks of the state have suffered 50 per cent loss in crops and another 62 blocks have suffered 40 per cent loss due to poor monsoon.
It also estimated that drought has resulted loss of rice (dhan) crops by 37.7 per cent, dalhan crops by 16.85 per cent and Makka crops by 27.06 per cent in 2015.
State Cabinet also has decided to send the report on drought status in state to the Union Government and request it to send a team for assessment of drought in the state.
Earlier in November 2015, in view of drought conditions state government had announced a package of 1,398 crore rupees to drought-hit farmers for distribution of seeds, subsidised diesel, construction of small check dams and other facilities.
India ranks 131 on global ICT Development Index : MISR Report
India has been ranked 131 out of 167 nations on ICT Development Index (IDI) that measures the level of information and communication technology access.
It was revealed in UN International Telecommunications Union’s (ITU) flagship annual Measuring the Information Society (MISR) Report.
Key highlights of report
Globally 3.2 billion people are now online i.e. having internet connection representing 43.4 per cent of the world’s population.
Worldwide, mobile-cellular subscriptions have reached almost 7.1 billion representing 95 per cent of the global population.
Top three countries in IDI 2015: South Korea, Denmark and Iceland.
Disparity in Internet access: 81.3 per cent of households in the developed world have home Internet access, compared to 34.1 per cent in the developing world. It is just 6.7 per cent in the 48 UN-designated Least Developed Countries (LDCs).
Asia-Pacific Region: It is the most diverse region in terms of ICT development that reflects stark differences in levels of economic development.
6 economies in this region including the South Korea, Hong Kong and Japan have IDI rankings in the top 20 of the global distribution.
This region also includes ten of the IDI’s least connected countries including India, Pakistan, Bangladesh and Afghanistan.
India: Mobile-cellular telephone subscriptions in India per 100 inhabitants is 74.48 in 2014. The percentage of households with computer is 13 per cent, while the percentage of households with Internet access was 15.33. Further the percentage of individuals using the Internet has grown to 18 per cent in 2014.
New Appointments:
Navjot Siddhu to be appointed NCM member
Former Bharatiya Janta Party (BJP) MP and cricketer from Punjab, Navjot Singh Siddhu, is all set to be appointed as a member of the National Commission for Minorities. The composition of NCM has remained untouched since it was constituted under the UPA government.
Mr.Siddhu would be the first NDA appointee to the commission. Mr.Siddhu would replace commission member Ajaib Singh, who retired last month.
Mr.Siddhu, who represented Amritsar in Lok Sabha, was replaced by Finance Minister Arun Jaitley from the parliamentary seat in the 2014 general elections.
Business:
Rajan keeps repo rate unchanged
Reserve Bank of India Governor Raghuram Rajan left the benchmark interest rate, the repo rate, unchanged at 6.75 per cent as expected, and stressed the RBI’s policy stance remained “accommodative”.
The comment signalled the central bank was prepared to continue with more monetary easing, if needed, to support an economic recovery.
Maharashtra is biggest state economy
Maharashtra is the biggest economy within India at Rs 16.87 lakh crore in terms of gross state domestic product (GSDP), according to the latest report by credit rating agency Brickwork Ratings. The state is followed by Tamil Nadu and Uttar Pradesh.
The report, which said Maharashtra’s GSDP has grown by 11.69 per cent for the financial year ended March 31, 2015, also highlights the fact that Maharashtra earns approximately 70 per cent of its total receipts through tax revenues â the highest among the bigger states â followed by Gujarat and Tamil Nadu.
The findings are part of Brickwork’s fourth edition of a nationwide, multi-state research analysing finances of all the states. The rating agency looks at the State government’s willingness and ability to honour debt obligations, and the rating criterion includes an analysis of political, economic, budgetary, financial and institutional parameters considered relevant to the State government’s creditworthiness.
According to the report, Gujarat and Maharashtra accounted for 27.26 per cent and 25.18 per cent of GSDP respectively in 2014-15, and led other state economies in terms of level of contribution from the manufacturing sector. Other states with higher manufacturing sector share were Tamil Nadu (19.1 per cent), Jharkhand (18.8 per cent) and Haryana (18.1 per cent).
Karnataka leads in the growth of services sector, largely due to the growth in the IT/BPO/ KPO sector, followed by Tamil Nadu, Maharashtra and Andhra Pradesh. Maharashtra, along with Karnataka, has also been able to keep the expenditure on general services under check. Bihar, Orissa, Tamil Nadu and Kerala spend the most on pensions. Also, Maharashtra’s infant mortality rate (IMR) of 25 is below the national average for all states, which stands at 50.
Meanwhile, at a national level, India’s GDP growth rate at 7.3 per cent in 2015 exceeded that of China, which grew at 6.9 per cent. The report states that China has been registering double digit growth since 1990, and India seems to have begun that journey now.
The three fastest-growing states were Bihar at 17.06 per cent, MP (16.86 per cent) and Goa (16.43 per cent). The laggards were Telangana at 5.3 per cent, Punjab (10.16 per cent), Rajasthan (11 per cent). Telangana was formed only last year and the administrative machinery is still evolving.
While agriculture has been the mainstay of most states, employing 40-60 per cent of the workforce directly or indirectly, it has been neglected by all political parties, according to Brickwork. “The futures markets are not well developed and farmers have to bear the price risk of crops. That results in everyone going for the same crop like sugar cane, and the sugar factories are unable to crush the standing cane.
Facebook's Zuckerberg to give 99% of shares to charity
Chief executive officer Mark Zuckerberg and his wife said on Tuesday they will give away 99 per cent of their Facebook shares, currently worth about $45 billion, to a new charity in a letter addressed to their daughter, Max, who was born last week.
The plan mirrors a move by other high-profile billionaires like Warren Buffett and Bill and Melinda Gates, who have pledged and set up foundations to give away their fortunes to charity.
On his Facebook page, Zuckerberg posted a photo of himself, his wife, Priscilla Chan and their new daughter, Max, along with a post entitled 'A letter to our daughter.'
In the 2,220-word letter, Zuckerberg and Chan touched on issues including health, education, Internet access and learning before announcing the Chan Zuckerberg Initiative, which aims to "advance human potential and promote equality."
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