Economics June 2013

1. India’s trade deficit widened to a seven month high of $20.1 billion in May as gold imports continue to surge while exports declined by over a percent.
2. Reserve Bank on Monday kept the key interest rates unchanged citing elevated food inflation, rupee depreciation and uncertainty over foreign fund inflows. Key short term lending rate (repo rate) kept unchanged at 7.25 per cent;Cash reserve ratio unchanged

News June 2013

1. Indonesia, the country with the largest Muslim population in the world, has gifted an imposing 16-foot-high statue of Saraswati, the Hindu goddess of education and wisdom, to Washington DC.


2. National Security Agency(NSA)  of America communication snooping : Boundless Informant collects information from computer and telecom services.Order of spying : Iran,Pakistan,Jordan,Egypt,India.


3. Narendra Modi : BJP chairman for poll campaign 2014


4. The government has ruled out amending the RTI Act to give immunity to political parties from providing information after the recent CIC’s landmark order brought them under the ambit of the transparency law. Department of Personnel and Training (DoPT)  acts as nodal department for the implementation of RTI Act.


5. The Department of Posts will move a Cabinet note in order to apply for a banking license


6. NCTC(National Counter Terrorism Center) opposed by Chief Ministers Mamata Banerjee (West Bengal), Nitish Kumar (Bihar), Jayalalithaa (Tamil Nadu), Narendra Modi (Gujarat), Raman Singh (Chhattisgarh), Shivraj Singh Chouhan (Madhya Pradesh) and Punjab Deputy Chief Minister Sukhbir Singh Badal.Even Congress Chief Ministers Prithviraj Chavan (Maharashtra), Siddaramaiah (Karnataka) and Tarun Gogoi (Assam) have expressed reservations to the revised proposal of NCTC.