Employment News Today 27 July 2013
Crisil slashes GDP forecast to 5.5% on rupee weakness
Rating firm Crisil revised downwards its GDP growth forecast to 5.5 pc this fiscal from its earlier estimate of 6 pc, citing reduced likelihood of monetary easing going forward due to falling rupee.
We have lowered GDP forecast for FY 2014 by 50 basis points to 5.5 per cent, given the reduced likelihood of interest rate cuts and weak momentum in both industry and services," Crisil Research President Mukesh Agarwal said in Mumbai on Thursday.
In backdrop of the recent measures by RBI to absorb liquidity from the system to contain rupee volatility, Crisil said there is significantly diminished probability of a repo rate cut during the remaining part of the current fiscal.
Besides ADB, several brokerages like Nomura, BofA-ML, Deutsche Bank had last week lowered their GDP growth forecast and pegged it between 5 and 5.8 percent.
RBI has come out with a slew of steps to squeeze liquidity out of the system to stabilise rupee.
The rupee is the worst performing Asian unit this year, losing close to 10 percent against the US currency this fiscal alone.
No dress code and internet for AMU college girls
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| AMU vice-chancellor |
The Aligarh Muslim University (AMU) has ordered a
dress code for female students of Abdullah College - no T-shirts and jeans,
only salwar-kameez and dupatta.
if any girl is caught violating the dress code, she will be
fined Rs. 500".
AMU vice-chancellor (V-C) Gen Zameeruddin Shah had issued an
appeal asking the girls to wear "decent clothes" and now a proper
notice has been issued with a warning of fine for violation.
women's organisations of the city have protested against the
diktat.
They alleged that the V-C was making AMU "a centre of
Jamat-e-Islami and is continuously negating the dreams of Sir Syed, who was in
favour of liberal education among Muslims.
Fehmeeda Parveen, president of 'Save Women' organisation
said: "The dress code is unfortunate as there is no such code for boys. It
is a clear violation of women's rights.
Rating firm Crisil revised downwards its GDP growth forecast to 5.5 pc this fiscal from its earlier estimate of 6 pc, citing reduced likelihood of monetary easing going forward due to falling rupee.
We have lowered GDP forecast for FY 2014 by 50 basis points to 5.5 per cent, given the reduced likelihood of interest rate cuts and weak momentum in both industry and services," Crisil Research President Mukesh Agarwal said in Mumbai on Thursday.
In backdrop of the recent measures by RBI to absorb liquidity from the system to contain rupee volatility, Crisil said there is significantly diminished probability of a repo rate cut during the remaining part of the current fiscal.
Besides ADB, several brokerages like Nomura, BofA-ML, Deutsche Bank had last week lowered their GDP growth forecast and pegged it between 5 and 5.8 percent.
RBI has come out with a slew of steps to squeeze liquidity out of the system to stabilise rupee.
The rupee is the worst performing Asian unit this year, losing close to 10 percent against the US currency this fiscal alone.
Nation Celebrates Kargil Vijay Diwas
The nation on Friday
observes Kargil Vijay Diwas, Defence Minister AK Antony and the three service
chiefs paid homage to Kargil martyrs at Amar Jawan Jyoti, India Gate.
Kargil Vijay Diwas is celebrated on
26th July every year in honour of the Kargil War's Heroes.
Kargil Vijay Diwas keeps alive the memories of the
brave soldiers ensuring that their Martyrdom does not go waste.
Soldiers of the Indian Armed forces have made the
highest sacrifices for the security of the country and the Kargil war is no
exception.
14 years ago Indian soldiers successfully foiled
Pakistan's attempt to intrude and capture outposts in Indian Territory,
teaching the Pakistani intruders a lesson and causing them to retreat.
ii. The Kargil war which was fought for more than 60 days,
ended on 26th July 1999.
Advanced weather satellite INSAT-3D successfully launched
India's advanced
meteorological satellite INSAT-3D was successfully launched by an European
rocket from the spaceport of Kourou in French Guiana early on Friday, giving a
boost to weather forecasting and disaster warning services.
European space consortium Arianespace's Ariane 5 rocket
launched INSAT-3D and Alphasat satellites.
Alphasat is Europe's largest telecommunication
satellite-ever manufactured and results from a large-scale public-private
partnership between the European Space Agency and Inmarsat.
According to ISRO
INSAT-3D adds a new dimension to
weather monitoring through its atmospheric sounding system, which provides
vertical profiles of temperature, humidity and integrated ozone from surface to
top of the atmosphere.
The new satellite, INSAT-3D will be operational for next
seven years, i.e., up to 2020.
ii. The aim of the satellite is to make a crucial difference
to the disaster warning systems as well as weather forecasting of India.
INSAT-3D will also provide monitoring of the
ocean as well as land areas, apart from providing meteorological observation.
It is important to note that the imaging system
and mechanism of INSAT-3D has a lot of improvement in comparison to INSAT-3A as
well as KALPANA.
INSAT-3D carries the newly developed 19 channel sounder,
which is the first payload of this kind to be flown to the ISRO satellite
mission.
INSAT-3D will provide continuity to earlier missions and
further augment the capability to provide various meteorological as well as
search and rescue services.
Meghalaya CM launches Centre for Adaptation to
Climate Change
Meghalaya Chief Minister Mukul Sangma today launched a
Centre for Adaptation to Climate Change which aims to engage government
departments and civil societies to address the issue of climate change.
Dedicating the centre to the people of this north
eastern state, the Chief Minister said that the centre can be a source of
knowledge and data that will benefit not only Meghalaya but also its
neighbouring North Eastern states and countries like Bangladesh.
The centre was launched in cooperation and technical
support from the German Development Cooperation through the climate change
adaptation programme in the North East Region.
RBI raised Rs 11900 crore in bond auctions
Reserve
Bank of India has raised 80% of what it intended in Friday's Rs
15,000-crore bond auction as investors demanded higher yields after the central
bank managed to squeeze liquidity.
RBI has sold four government
stocks with maturity ranging from two to 19 years, and raised Rs 11,866
crore with a small part of the bond auctions devolving on primary dealers,
indicating that most of the market has accepted the new yield levels.
Ex-IMF chief Strauss-Kahn to face pimping trial
Former IMF chief Dominique
Strauss-Kahn will face trial on pimping charges along with 12 others in
connection with an alleged prostitution ring in the French city of Lille.
Strauss-Kahn was charged last year with "aggravated
pimping as part of an organised gang", in one of a string of cases that
came to light after he was forced to resign from his IMF job over an alleged
sexual assault on a New York hotel maid.
Strauss-Kahn, who before the scandals was considered a top
candidate for the French presidency, had admitted to attending sex parties in
France and the United States but insisted he did not know some of the women were being
paid.
MERS virus
World Health Organization has confirmed 90 cases of MERS,
the Middle East respiratory syndrome, including 45 deaths. Most cases have been
in Saudi Arabia, but the mysterious virus has also been identified in countries
including Jordan, Qatar, Britain, France, Germany, Italy and Tunisia. MERS is related to SARS and the two
diseases have similar symptoms including a fever, cough and muscle pain.
MERS also appears to be mainly affecting men; nearly 80 per
cent of the cases in the new study were men.
``Women in the (Middle East) region tend to have their
mouths covered with at least two layers of cloth,'' he said, referring to the
veils worn by women in Saudi Arabia.
If the coronavirus is being spread by
droplets, (the veils) should give women some protection.
first state to take steps for branding and marketing of
these varieties----Maharashtra
Maharashtra, a major producer
of pulses but not so known for rice, has recently floated a tender to appoint a
consultant
for branding rice and tur.
Maharashtra agriculture
minister Radhakrishna
Vikhe Patil said---
The farmer growing
these varieties is at the mercy of the single government procurement system or
rice millers. There is some price stability since the ban on exports of
non-basmati rice is removed.
Branding and direct marketing by farmers' groups
will not only increase the price received by farmers by at least 40%, it will
also lead to an improvement in productivity.
There are at least 26 rice varieties in the five districts
of Vidarbha. So are there other varieties much superior to the basmati rice in
Konkan and western Maharashtra.
But urban consumers do not know about them.

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