Current Affairs of the day-June 05-2012
Economic Scenario Difficult
Indian Finance minister Pranab Mukherjee today admitting the current economic condition in the country was “difficult” but rejected any comparison with the situation of 1990 when India had faced an external debt crisis.
During the CWC meeting, Mukherjee told reporters here that the current economic situation was also discussed. “I explained that an attempt is being made to make a comparison between 1990 and 2012. I think that comparison is not correct.”
He said “yes in the life of an economy, even of a nation, there are ups and downs. You cannot show a single nation which is having continuous upward curve…There is no reason to believe that we are going back to the situation of 1990.
“Therefore, there are fundamental differences. At that point of time, our foreign exchange reserves came down to as low as only 17 days of import… Our foreign exchange reserves now are worth importing seven and a half months, not 17 days. 290 billion US Dollars is our current foreign exchange.”
The FM also admitted the current account deficit has, however, gone up from 3 per cent in 1991 to 4 per cent now.
Heat wave claims 17 lives in West Bengal
In West Bengal, at least 17 people died of sun stroke in last 24 hours.Official sources said, nine persons died in Burdwan district, two in Howrah district while three each in Purulia and Kolkata.
Today is World Environment Day
World environment day is being observed today across the globe to raise awareness among people about the importance of clean environment in the human life.The theme for the Day is Green Economy: Does it include you? Our correspondent reports that several functions are being organised across the country to mark the day.
PM calls meeting of infra sector related ministries to review status
Prime Minister Dr Manmohan Singh has called a meeting tomorrow to review the status of infrastructure sector with an aim of pushing the slowing growth.The meeting will be attended by ministers of all infrastructure-related ministries.
Afghan exit: NATO signs deals with Kazakhstan, Uzbekistan & Kyrghyzstan
NATO has signed deals with Kazakhstan, Uzbekistan and Kyrgyzstan to use their territory for evacuating vehicles and military equipment from Afghanistan.The agreement will allow the military alliance to bypass Pakistan which has blocked NATO from using its territory in a disagreement over drone strikes.
G7 Fin Mins & Bank Presidents to discuss worsening Euro crisis
Finance ministers and central bank presidents of the world’s seven wealthiest countries will hold an emergency conference call today to discuss Europe’s worsening debt crisis.Canadian Finance Minister James Flaherty told reporters in Canada yesterday that he would raise Europe’s troubles with his Group of Seven colleagues during the call.
Delhi assembly approves proposal to reduce VAT on petrol by 20 per cent
Delhi assembly has approved the budgetary proposal to reduce VAT on the petrol by 20 per cent. With this, petrol will be cheaper by 92 paisa a litre in Delhi.
French Open mixed doubles QF: Paes & Vesnina take on Mirnyi, Huber
In the French Open Tennis , fifth seeded Indo-Russian pair Leander Paes and Elena Vesnina will take on the top seeded Belarusian-American combine of Max Mirnyi and Liezel Huber in their mixed double quarterfinal match in Paris today.The Indian duo of Mahesh Bhupathi and Sania Mirza have already reached the semi finals in the mixed doubles event.