According to the Economic Survey of India for 2014-15, the Indian economy is likely to grow at between 8.1% and 8.5% next year and “seems poised for propulsion. The survey said, “India has reached a sweet spot - rare in the history of nations - in which it could finally be launched on a double-digit medium-term growth trajectory”.
Railway minister Suresh Prabhu presented the railway budget for 2015-16 in the parliament. The budget is noted for its distinctness from the previous budgets as this time it did not announce a new train or new railway line.
As a part of expanding bilateral strategic partnership, India is set to acquire the massive ShinMaywa US-2i amphibious aircraft from Japan. The move which is being seen as important as both the nations are wary of China’s assertive behaviour in the Asia-Pacific region.
The 14th Finance Commission has hiked the states’ share of central taxes by an unprecedented 10 percentage points from 32% to 42%. The move will financially benefit states greatly, possibly at the Centre’s cost. It gives states greater freedom to choose how they spend the money while reducing the discretionary fiscal space available to the Union finance minister.
The 87th Academy Awards ceremony, presented by the Academy of Motion Picture Arts and Sciences (AMPAS), honoured the best films of 2014 and took place on February 22, 2015, at the Dolby Theatre in Hollywood, Los Angeles. During the ceremony, the Academy of Motion Picture Arts and Sciences presented Academy Awards (popularly referred to as Oscars) in 24 categories.
Weeks before Prime Minister Narendra Modi is scheduled to make his first visit to Maldives on March 15, former president of Maldives Mohamed Nasheed was arrested on terrorism charges. This happened almost exactly two years after he had walked into the Indian high commission, seeking refuge and creating an embarrassing situation for the UPA government.
By ending days of political drama following a bitter power struggle with Jitan Ram Manjhi, Nitish Kumar once again became the chief minister of Bihar, nine months after he stepped down last time.
A new study authored by Michael Greenstone, director of Energy Policy Institute at Chicago, with prominent economists and public policy experts from Yale and Harvard University, has concluded that almost 660 million people, which is half of India’s population, could add 3.2 years to their lifespan if air quality met the national safe standard.
Lithuania’s foreign minister has urged India to use its global clout and join Europe in an open condemnation of Russia’s actions in Ukraine.
Family ties that date back to well before the subcontinent was partitioned in 1947 still appear stronger than the new political boundaries that separate them. This was proved when scions of two Rajput families from India and Pakistan tie the knot in Jaipur.
