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DAILY THE HINDU NEWS ANALYSIS JUNE 8, 2017 By Jatin Verma, Educator, Unacademy. unacademy This Video is available in both Hindi & English. Please Visit https://unacademy.com/user/studiousjatin
India denies Iran shutting it out of gas field development Memorandum of understanding signed between Iran and the Russian company Gazprom on the development of the Farzab B gasfield, The 12.5-trillion-cubic feet gasfield was discovered by ONGC Videsh Ltd. but Tehran has delayed the award of right to develop the field to the company, reportedly disappointed with its commitment of $3 billion. Negotiations between India and Iran have heated up, with India cutting oil imports from Iran and Iran retaliating by reducing the credit time limit it gives Indian companies from 90 to 60 days.
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Page 12World news: U.S. indicates open-ended commitment in Afghanistan: The U.S. will keep its military engagement in Afghanistan open-ended, Secretary of De- of State Rex Tillerson have indicated. MOAB in Nangarhar province to Destroy ISIS hide-outs The US has about 9,800 troops in Afghanistan.They ended their combat mission against the Taliban in 2014 but are increasingly involved in backing up Afghan forces on the battlefield.
*S. Korea to freeze new THAAD deployment South Korea will suspend any further deployment of the Terminal High Altitude Area Defence (THAAD) system, a controversial U.S. missile defence system until an environmental impact assessment ordered by new President Moon Jae-in is finished. Dence T) gas t Vladivosto Bejing. NOKFH sea of apa1 OCC UNI adn clai Pyongyang. Ken - Seoul SOUTH KOREA JAPA Tokyo . Shanghai 9
RBI's decision to hold interest rates reveals differences with Centre. RBI's monetary policy cormmittee holds repo rate at 6.25% Asserting Autonomy: Members of the Monetary Policy Committee (MPC) had declined an invitation to meet with Finance Ministry officials ahead of the policy review. The six-member MPC's decision to hold rates and retain a "neutral" stance was also the panel's first to lack unanimity, with one member dissenting The MPC highlighted the risk of 'premature action' at this stage and said it would be wise to remain watchful of incoming data, thus avoid- ing disruptive policy reversals at a later stage The RBI said 82.6% of currency that was in the banking system prior to demonetisation had re- turned to circulation.
Monetary Policy Committee The Reserve Bank of India Act, 1934 (RBI Act) has been amended by the Finance Act, 2016, to provide for a statutory and institutionalised framework for a Monetary Policy Committee, for maintaining price stability, while keeping in mind the objective of growth The Monetary Policy Committee would be entrusted with the task of fixing the benchmark policy rate (repo rate) required to contain inflation within the specified target level The meetings of the Monetary Policy Committee shall be held at least 4 times a year and it shall publish its decisions after each such meeting. As per the provisions of the RBI Act, out of the six Members of Monetary Policy Committee, three Members will be from the RBl and the other three Members of MPC will be appointed by the Central Government.
Beginning 5th August 2016 and ending on the March 31, 2021, Target as under- . Inflation Target: Four per cent. Six per cent. Two per cent. Upper tolerance level: . Lower tolerance level: India will remain among top 3 investment destinations till '19 UNCTAD's World Investment Report 2017: said India ranked 10th in terms ofFDI inflows in 2016, with $44 billion coming in, as in 2015 Over the next two years, India will be behind only the U.S. and China in terms of investment attract- iveness, the report added. 2016, with S44 bilion coming in, as in 2015, o "In terms of projections for the future, the United States of America, China and India are the top prospective destinations for FDI.
New data on jobs to be 'all inclusive': NITI Aayog Committee The task force on employment data could recommend inclusion of data on jobs created under employment generation programmes such as MGNREGA and MUDRA. The use of technology such as mobile phones or tablet devices in conducting employment survey by agencies such as NSSO and Labour Bureau is also being emplovme h task force led by NITI ayog vice chairman Arvind Panagariya explored by the task force led by NITIAayog vice chairman Arvind Panagariya. Centre would also use data from social security schemes such as the Employees Provident Fund, National Pension System and Employees' State Insurance Corporation to determine formalisation of workforce in a year, said another official While the enterprise-level quarterly survey may be c annual household survey conducted by the Bureau at present may go. It will be replaced with a revamped annual household survey which may be conducted by National Sample Survey Office onducted by Labour Bureau, the