Current Affairs 26th June 2014

Current Affairs 26th June 2014

Updated : 26-Jun-2014

Current Affairs 26th June 2014 - Important Points
Current Affairs 26th June 2014 - Details
Union Cabinet approved pact with China for setting up industrial park
On 25th June 2014, The Union Cabinet approved an in principle memorandum of understanding (MoU) between India and China for setting up industrial parks in the country. This approval came at a time, when Hamid Ansari, the Vice-President of India will be on a five days visit to China to celebrate the 60th year of Panchsheel that formed the bedrock of India-China ties. He will be accompanied by Union Commerce and Industry Minister Nirmala Sitharaman.

Apart from this, as per the reports, China is interested in investing in India especially in agro-processing, tourism and manufacturing. A recent study conducted by PHD Chamber of Commerce revealed that China has emerged as biggest trading partner in the current fiscal for India. It has replaced UAE. Trade between India and China has reached 49.5 billion US dollar with 8.7 percent share in India’s total trade.
The cabinet also increased the MSP for kharif crops between Rs.30 and Rs.100 per 100kg, as recommended by the Commission for Agriculture Costs and Prices (CACP).
S.Korea PM wae retained despite offer to quit over ferry disaster
On 25th June 2014, The President of South Korea, Park Geun-Hye announced the decision to retain the Chung Hung Won who had resigned over ferry disaster in April 2014, thus Chung Hung Won was retained as Prime Minster of South Korea, which is important among International Current Affairs.
Chung had taken responsibility for the government's failure to prevent and handle the April 16 Sewol ferry disaster - which left more than 300 people dead or still missing.
President Park nominated a retired Supreme Court Justice and former journalist Moon Chang-Keuk for the post of PM. But they withdrew the nominations due to controversies raised against them over the corruption and as pro-Japan respectively.
Maharashtra State Cabinet approved reservation for Marathas and Muslims in the State
On 25th June 2014, The Maharashtra government approved a proposal to reserve 16% of government jobs and seats in educational institutions for Marathas and 5% for Muslims.

"The Maratha community and Muslims have been given reservation without affecting existing reservation for the scheduled castes, scheduled tribes and other backward classes (OBCs)," chief minister Prithviraj Chavan said after a cabinet meeting.
The reservation is applicable only for non-creamy layer of these communities and will be implemented immediately. This decision will not affect the existing 52 percent reservation in the State and with this the overall reservation has now increased to 73 percent.
Population of the two communities in the State has about 110 million people. Out of this Marathas population constitutes 32 percent and Muslims population constitutes 5 percent.
Indian-origin Justice V K Rajah appointed as 8th Attorney-General of Singapore
On 25th June 2014, Justice V K Rajah, an Indian-origin judge, was appointed as the eighth Attorney-General of Singapore. Justice Rajah's appointment takes effect with immediate effect, said a statement from President Tony Tan Keng Yam's Office.
Rajah takes over from Steven Chong. President Tan also appointed Rajah, 57, as a Member of the Presidential Council for Minority Rights for a term of three years.
Justice Rajah is graduated from the National University of Singapore in 1982, and worked for law firm Rajah & Tann.
In 1997, he was appointed a Senior Counsel and in 2007, he was appointed a Judge of Appeal.
A.K. Dubey appointed as Chairman of Coal India Limited
On 25th June 2014, Additional secretary A.K. Dubey was appointed as Chairman of Coal India Limited with immediate effect. He will serve his post as an additional charge till a full-time chairman is appointed.

He will serve as the Chairman for a period of three months until the new chairman of the state-owned company is duly appointed.
Nearly a month after the resignation of Coal India Ltd's chairman and managing director S. Narsing Rao, the Centre has made this appointment.
Union Government granted Navratna Status to EIL and NBCC
On 24th June 2014, The Union Government granted Navratna status to Engineers India Ltd (EIL) and National Buildings Construction Corporation (NBCC).
Department of Public Enterprises under the Ministry of Heavy Industries and Public Enterprises granted the navratna status to enhance the greater financial and operational autonomy.
The Navratna status to two Central Public Sector (CPSEs) will provide the companies greater leeway in deciding on business propositions such as forming joint ventures or taking call on projects involving major investments.