Current Affairs – October, 2014

NPPA slaps penalty on Novartis for overcharging

The National Pharmaceutical Pricing Authority (NPPA) has sent a show cause notice to Novartis, imposing a fine of Rs. 300 cr for overcharging consumers. The drug in question, which Novartis has been accused of overcharging is Voveran. Voveran is painkiller which is very popular in the market. Voveran is based on diclofenac, a drug under Read More…

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Separate Bill drafted for regulation of small factories

The Labour Ministry has drafted the Small Factories (Regulation of Employment and Conditions of Services) Bill, 2014 and asked for comments from stakeholders.  The Bill is likely to be tabled in the Parliament during its winter session. Application of law This law will apply to micro, small and medium enterprises that employ up to 40 Read More…

Jean Tirole wins Nobel Prize for Economics -2014

The Nobel Prize for Economics was awarded to Jean Tirole “for his analysis of market power and regulation”.  He will be awarded prize money of 8 mn Swedish krona. Jean Tirole is the second Frenchman to have been awarded a Nobel Prize this year. Tirole has been very vocal about the need for greater regulation Read More…

Indian Super League inaugurated in Kolkata

The Hero Indian Super League (ISL) was launched amid festivities at Kolkata’s Salk Lake Stadium on October 12 in the presence of fans, industrialists, celebrities and politicians. The inaugural ceremony was celebrated with dances and fireworks. The ISL is a professional Indian football league. The ISL football tournament will last a span of 10 weeks, Read More…

India to provide four million US dollars for rebuilding the Gaza Strip

At the International Gaza Donor Conference in Cairo, India pledged to donate US $ 4 mn in aid to rebuild Gaza Strip. The Conference is to raise money for rebuilding efforts in Gaza after its latest 50 day war with Israel. Presentation by Palestinian Authority The Palestinian Authority presented a 76 page long National Early Read More…

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