Around the Globe

Around the Globe

Solar-powered system to provide safe drinking water in India

Scientists are developing a low-cost, solar-powered water purification system that may help over 77 million people in remote parts of India get access to safe drinking water.

According to researchers at the University of Edinburgh in the UK, there is no systematic treatment of sewage in rural India.

The government has focused on purifying contaminated water in rivers and streams, but the situation could be greatly improved by tackling the problem at source, researchers said.

Govt to set FY18 fiscal deficit target at 3.3-3.4 pc: Reports

Government is likely to set fiscal deficit target in the range of 3.3-3.4 per cent of GDP for the financial year 2017-18 in the upcoming Budget, say research reports.

The Budget for the financial year 2017-18 will be presented on February 1. "We think that the government will have to tread very carefully between the need for stimulating demand in a weak economic environment after demonetization and continuing on the path of fiscal consolidation.

Court grants time to CBI to file final report in proper format

A special court today granted time to CBI for filing the final report in a coal block allocation scam case against Congress leader and industrialist Naveen Jindal, ex-Minister of State for Coal Dasari Narayan Rao and others, in a proper format.

Special CBI Judge Bharat Parashar allowed the investigating officer's plea seeking time on the ground that he has finalised the report, forwarded it to senior authorities and awaiting approval.

The court directed the CBI officer to file the final report on February 6, the next date of hearing.

RBI Guv reallocates DGs portfolios as Acharya takes charge

RBI Governor Urjit Patel has reallocated portfolios of Deputy Governors following assumption of charge by Viral V Acharya.

Apart from Monetary Policy Department, Acharya will look after Economic Policy & Research, Corporate Strategy and Budget and Financial Markets Operations Department, RBI said in a statement today.

Acharya, a professor of Economics in the Department of Finance at the New York University (NYU) was appointed as Deputy Governor last month.

Bill to replace ordinance on Jallikattu to be placed in Assembly: Guv

Observing that a "mass movement" and "spontaneous outpouring of emotion" paved the way for lifting of the ban on Jallikattu, Tamil Nadu Governor Ch Vidyasagar Rao today said a bill to replace the ordinance would be "placed" by the state government in the Tamil Nadu Assembly "immediately."

US President’s domino on outsourcing

Donald Trump dropped hints in interviews, Twitter posts and other public comments that he intends to push his party away from its free-market, internationalist dogma on trade, foreign alliances, immigration, infrastructure spending and prescription drug access. Prior to his inauguration as US President, there was a serious discussion on whether he, in reality, would adhere to campaign agenda of big-government nationalism, all but obliterating the liberal-conservative distinctions that have defined America’s political parties for a century.

IT & pharma stocks hit by uncertainty as industry awaits clarity on new US policies

The Trump administration’s declared protectionism appears to have spooked domestic IT and pharma stocks with both IT and pharma stocks becoming the biggest drag on the benchmark indices like Sensex and Nifty-50.
IT biggies like Infosys, TCS and Wipro have taken a beating over worries about US visa restrictions, and BSE IT indices lost over 4.5 per cent in the past three months.
Among the frontline IT companies, Infosys plunged by 8.5 per cent, while TCS lost 4.6 per cent and Wipro fell by 3.6 per cent since October 20.

Trump rattles Indian IT industry

The inevitable has happened and the expected has been said. Donald Trump has stayed on course and reiterated his mantra for the new Americanism under his regime.
“We will bring back our jobs. We will get our people back to work rebuilding our country with American hands and American labour. We will follow two simple rules — buy American and hire American,” Trump said in his inaugural address, after taking over as the US president, to the people of his country and to the entire world, which watched his televised address live from their homes and offices.

FRBM panel’s prescription suits govt plan to up spending

The NK Singh-led fiscal responsibility and budget ma­n­agement (FRBM) panel might come to the rescue of the Narendra Modi governm­ent, which is looking to step up public spending to counter economic slowdo­wn, triggered by demonetisation, but is constrained by the exigency to honour fiscal commitments. Singh is a former revenue secretary.

Patel not yet out of the House panel cross hairs

Reserve Bank of India (RBI) governor Urjit Patel may have to appear before the public accounts committee (PAC) of Parliament on February 6 again as the panel wants to hear his replies on demonetisation issues at the earliest. Patel, who along with the board of governors and senior officials of the apex bank appeared before the parliamentary panel on January 20, was asked to submit his replies in writing within 15 days.

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