Philippines Current Affairs

India ranks second in global business optimism index: Report

As per recently released report, India was ranked second in the global business optimism index during the third quarter (July-September 2016).

It was revealed by the Grant Thornton International Business Report. India has improved its ranking by one spot in the index.

The report was prepared on the basis of a quarterly conducted global business survey of 2,500 businesses across 36 economies. Earlier in second quarter (April-June 2016) India was ranked third after being on top for two consecutive quarters.

 Key Facts

  • In the report Indonesia took the top spot and Philippines was placed third after India.
  • India was able to improve its rank because of policy reforms and adaptation of Goods and Services tax (GST).
  • The improvement clearly reflects that the reform agenda of the government and its efforts on improving the climate for doing business are having an impact.
  • Globally, business optimism stands at net 33%, rising 1 percentage point from the previous quarter but has failed by 11 percentage points over the year.


Bezwada Wilson, TM Krishna receive 2016 Magsaysay Award

Two Indians TM Krishna and Bezwada Wilson have received the prestigious Ramon Magsaysay prize for the year 2016.

They were among six persons/organisations who received the prestigious award, often regarded as Asia’s Nobel Prize.

The award ceremony was held at the Cultural Center of the Philippines in Pasay City, Manila on August 31, 2015 i.e. on the birth anniversary of former Filipino President Ramon Magsaysay.

Six awardees are

  • Bezwada Wilson (India): He is the National Convener of the Safai Karmachari Andolan (SKA). He was awarded for asserting the inalienable right to a life of human dignity.
  • He has done remarkable work in liberating scores of people engaged in manual scavenging across the country.
  • Thodur Madabusi Krishna (India): He is a Carnatic music vocalist. He was bestowed with this award ensuring social inclusiveness in culture.
  • Conchita Carpio Morales (Philippines): She was bestowed with this award for restoring faith in the rule of law.
  • Dompet Dhuafa (Indonesia): She was bestowed with this award for expanding the transformative impact of zakat.
  • Japan Overseas Cooperation Volunteers (Japan): The organisation was awarded for building a world of genuine solidarity.
  • Vientiane Rescue (Laos): The organisation awarded for volunteering to save lives at risk.

About Ramon Magsaysay Award

  • Ramon Magsaysay Award is Asia’s highest cilivian honour and is often regarded as the region’s equivalent of the Nobel Prize.
  • Established in 1957 in the memory of Philippines’ third President Ramon Magsaysay who had died in air disaster in March 1957.
  • It was established the New York City based Rockefeller Brothers Fund and Philippine government.
  • It is awarded annually to individuals or organizations from Asia region for their altruistic and philanthropic service.
  • The award carries a medallion bearing the likeness of the late President Ramon Magsaysay, cash prize and a certificate.