Friday, 28th june, 2013

NATIONAL NEWS

• Despite opposition cabinet approves gas price increase
  • Despite opposition from within the Cabinet and outside, the Manmohan Singh government on Thursday approved a doubling of natural gas prices from the present $4.2 mbtu to $8.4 mbtu from April 1, 2014
  • Many experts feel the increase would likely lead to a hike in power tariffs, increase fertilizer cost and make CNG transportation more expensive.
  • The Cabinet Committee on Economic Affairs, headed by Prime Minister Manmohan Singh, went along with the Rangarajan Committee formula and the demand made by Mukesh Ambani-owned Reliance Industries Limited (RIL) for doubling, thus bringing them on a par with the international price of LNG. The CCEA has decided to overlook the $6.775 mbtu proposed by the petroleum ministry and has instead opted for the Rangarajan formula advocated by the Finance Ministry and the Planning Commission.
  • The Rangarajan formula would be applicable for five years. The new $8.4 mbtu price, which will be reviewed every three months, will apply to all the gas producers uniformly including the state-owned firms like Oil India Limited (OIL) and Oil and Natural Gas Corporation (ONGC) and private companies like RIL
  • The Rangarajan Committee had used a formula of long-term and spot liquid gas (LNG) import contracts as well as international trading benchmarks to arrive at a competitive price for India. While the Rangarajan panel had recommended revising domestic gas prices every month, the CCEA has opted for a quarterly revision.

• Rotary international and gates foundation to meet polio fund deficit
  • Rotary International and the Bill and Melinda Gates Foundation have joined hands to fund the gap in the new strategic plan announced by Global Polio Eradication Initiative (GPEI) towards polio eradication.
  • The projected cost of the GPEI ‘2013-2018 Strategic Plan’ against polio is $5.5 billion. The Gates Foundation has announced it would contribute twice the amount raised by Rotary International, one of the spearheading partners of the GPEI.
  • India has gone over two successful years without a case of polio and the surveillance and monitoring report indicate another strong year for India to finally clinch the regional polio-free certification in 2014.
  • However, the danger of virus importation exists because of neighbouring polio endemic countries. The eradication effort in Pakistan has been sabotaged by radical groups who have killed some polio workers. The campaign, however, is struggling to get back on track there.
  • With the recent setbacks in the African countries and the conflict in Pakistan and Afghanistan, there are a lot of questions on whether the world can actually be polio free by 2018 as set by GPEI
  • Globally, polio has decreased by 99 per cent to just 69 cases this year (as of 19 June), and only three countries — Afghanistan, Pakistan, Nigeria — remain endemic for the disease.

• Important article on a paper given by the NAC

• UAV nethra used in areal surveillance in Uttrakand

OPINION/EDITORIALS

• Article on river Ganga
• Article on reimaging the silk route
• Article on the delayed court cases and the problems attached with it