Current Affairs – July, 2013

Latest Current Affairs July, 2013 with Current Affairs, news summary on current events of National and International importance of July, 2013 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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By 2016, India to be the 3rd largest automobile market: IHS

Screenshot_4As per IHS Automotive, a global market information provider India will become the 3rd largest automotive market in the world by 2016 ahead of Japan, Germany and Brazil with its domestic automotive sales. China, the US and Japan were the top three global automotive markets and India was ranked 6th after Brazil and Germany in the 4th and 5th positions respectively in 2012. India is expected to recover strong growth trend from 2014 onwards.

Expectations in the coming Years:

  • With enhanced growth Indian citizens will acquire wealth and demand for automobiles will increase as the need of personal transportation rises.
  • The growth of auto-mobile sales will not be restricted only to mass market vehicles and
    India light vehicle production is expected to reach 7 million by 2020.
  • In terms of production volume, India would move to fourth position in 2020 ahead of Germany and Brazil from its current 6th spot.

Month: Categories: Business, Economy & Banking

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India to restore kerosene and LPG subsidy to Bhutan

Screenshot_1Giving a significant relief , especially its 12 % poor, India has decided to restore the subsidy on cooking gas and kerosene by the first week of August 2013. The Ministry of External Affairs claimed that the Petroleum Ministry misinterpreted the Foreign Office’s request for review of subsidies and there was no political consideration behind this.

How to Political Analysts see India’s move to restore kerosene and LPG subsidy to Bhutan?

Many political analysts see this as a step taken to affect the outcome of the recently held polls in Bhutan. India was not happy with Bhutan under the rule of Druk Phuensum Tshogpa (DPT) and its Prime Minister Jigmey Thinley who was seeking Chinese support for a non-permanent seat in the United Nations Security Council (UNSC). Bhutan without taking India into confidence held two rounds of talks with the Chinese once in Thimphu and then a summit in Rio in order to settle its border.

India’s withdrawal of the subsidy led to substantial increase in the prices of LPG and kerosene. With the People’s Democratic Party (PDP) winning the elections it was claimed that India was successful in making high LPG and kerosene prices a poll issue as it added to the charges of economic mismanagement.

Month: Categories: International

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