Newely Appointed Indian Ministers Name 2014 Union Minister oF India

Newely Appointed Indian Ministers Name 2014

• Union Minister for Road Transport and Highways and Shipping--Nitin Gadkari
• Civil Aviation Minister--Senior TDP leader Pusapati Ashok Gajapathi Raju
• Minister of State for Road Transport, Highways and Shipping--Krishan Pal
• Rajnath Singh took charge as the Union Home Minister

India's indigenously developed Pinaka rockets were successfully test-fired thrice from a multi-barrel rocket launcher at an armament base in Chandipur-on-sea, about 15 km from Balasore.

Tata Steel has bagged the best Indian steel company award. The award was given by US-based research firm Dun & Bradstreet (D and B).

Tech giant Apple will acquire music service Beats Music and Beats Electronics for $3 billion.

PM Narendra Modi resigned from Vadodara Lok Sabha parliamentary seat and retained Varanasi seat.

Hockey India (HI) has relegated Hockey Kerala to an associate member from full member status because of alleged irregularities in its functioning.

The first session of the newly constituted 16th Lok Sabha will be held from June 4 to June 11 2014.

Current affairs 3 February 2013

National

RTE deadline may be extended: The deadline for submitting applications to private unaided schools under the Right to Education Act quota for underprivileged children is likely to be extended, with many parents complaining that time to supply all necessary documents is inadequate. The last date for submitting applications was February 5.

Israel to partner Gujarat in mega agricultural meet: If Britain could soften its stand towards Gujarat Chief Minister Narendra Modi, Israel agreeing to partner with the State is only natural. The country is all set to join hands with the State in an agricultural meet that Mr. Modi plans on the lines of his much-touted Vibrant Gujarat industrial summit.

Re 1/kg rice scheme launched in Malkangiri: A week after he announced rice at Re 1 a kg for BPL

families, Orissa Chief Minister Naveen Patnaik on Saturday launched the ambitious scheme in Maoistaffected Malkangiri district, giving the first spatula of rice to a woman from the primitive Bonda tribe. The rice would be available to all BPL families and even to APL families in KBK at Re 1 per kg. The scheme will cover more than 58 lakh beneficiaries including 1.72 lakhs families in Malkangiri district with an expenditure of Rs 1,400 crore annually. Naveen said the Re 1 per kg rice will cost the state exchequer an additional Rs 200 crore.

EC pushes for reforms to check paid news: during elections to Assemblies and the Lok Sabha, the

Election Commission has once again begun to push for electoral reforms. A senior EC official on Saturday expressed the hope that the Centre would move a Bill on the reforms in the coming budget session of Parliament. Among the EC’s proposals, made as early as February 3, 2011, was that publication and abetment of “paid news” for furthering the election prospects of any candidate or prejudicially affecting the chances of other contestants be made an offence under the Representation of the People Act, 1951, entailing imprisonment up to two years. In the absence of any legislation to pull up “corrupt journalists” or punish “corruption by the media in the form of publishing news against money”, the EC’s proposed amendment to the RP Act would serve as a deterrent to an extent, said the official.

Cash transfer from February 9: The direct cash transfer scheme (DCT) is going to be launched through post offices in Chittoor district. The seeding of the accounts of beneficiaries with Aadhaar numbers and biometrics is being completed and it would be launched by February 9, Union Minister for Rural Development Jairam Ramesh, Union Minister of State for Information Technology and Communication Killi Kripa Rani, Chief Minister N Kiran Kumar Reddy and other Ministers and dignitaries are expected to attend the launch.

President inaugurates Surajkund Fair, a sumptuous feast of colors, culture: President Pranab

Mukherjee on Saturday inaugurated the 27th Surajkund Fair in Delhi, terming it a sumptuous feast of colour, culture and cuisine and emphasised on empowerment of the country's handicraft sector. The fair, upgraded as an international event this year with 20 foreign participants and over 800 artistes and artisans, celebrates Karnataka as the theme state.

International:

Iran develops fighter jet: Unveiling it on Saturday, President Mahmoud Ahmadinejad unveiled a futuristiclooking fighter jet he said ranks among the most sophisticated aircraft, media reports said. Code-named the Qaher (Conqueror) F-313 and shaped similar to stealth bombers, the grey warplane was designed and built domestically, Mr. Ahmadinejad told an audience of Defence Ministry brass.

INDIAN-AMERICAN SCIENTIST HONOURED: US President Barack Obama presented the prestigious National Medal of Technology and Innovation to Indian-American scientist Rangaswami Srinivasan for his groundbreaking work with laser.

Business:

Sebi to introduce product labeling for MFs soon: Securities and Exchange Board of India (Sebi) will soon introduce product labeling for mutual funds to make the investors aware of any risks associated with it. "Product labeling is an important investor education agenda for Sebi. The scheme profile will be given very shortly and finally it will be with color codes.

SK Pal is NBCC Director Finance: National Building Construction Corporation has appointed SK Pal as Director Finance. In a filing to the BSE, NBCC informed that "SK Pal has joined as Director (Finance) on Board of the company with effect from February 1, 2013".

Central Bank cuts lending, deposit rates: Central Bank of India, on Saturday, announced a reduction of 0.25 percentage point in its Base Rate or the minimum lending rate to 10.25 per cent. It has also reduced its deposit rates in select maturities effective February 9.

RBI may cut key debt ratio for lenders in next fiscal year: Reserve Bank of India is considering cutting the held-to-maturity (HTM) ratio for lenders starting in April, while also looking into bond purchases via open market operations in the next two months to improve liquidity. A cut in HTM – which is a type of debt that banks must be hold till maturity – is aimed at spurring banks to lend more and boost a sluggish economy poised to grow at its slowest pace in a decade.

The limit is currently set at 25 percent but traditionally has been aligned with the banks' statutory liquidity ratio (SLR), or the mandated portion of deposits, which banks must invest in government bonds, and other approved securities, which is currently at 23 percent.