Today's Top Headlines 14-04-2015

Top Headlines 14-04-2015

1. North Korean foreign minister Ri Su Yong to visit India 
i. North Korea’s top diplomat, Ri Su-yong, arrived in India on a rare visit where Delhi hosted the meet.
ii. Ri became the first North Korean foreign minister to visit India in at least 25 years.
iii. In New Delhi, Ri met with his counterpart, Indian External Affairs Minister Sushma Swaraj. According to reports, the two discussed North Korea’s nuclear weapons program and regional security issues, including the stability of the Korean peninsula.
iv. In addition to Swaraj, Ri met with Indian Vice President Hamid Ansari. Ri’s trip to India comes ahead of Indian Prime Minister Narendra Modi’s scheduled visit to Seoul, South Korea, which is expected in May.

2. India’s GDP growth rate to reach 8% by 2017: World Bank

i. The World Bank has predicted a GDP growth rate of 8 per cent for India by 2017 and said that a strong expansion in the country, coupled with favourable oil prices.

ii. In India, GDP growth is expected to accelerate to 7.5 per cent in fiscal year 2015/16. It could reach 8 per cent in FY 2017/18, on the back of significant acceleration of investment growth to 12 per cent during FY 2016-FY 2018.

iii. The report shows that households in the region stand to gain from lower oil prices, both directly through lower energy spending and indirectly through faster growth.

3. FM transmission of Vividh Bharati launched

i. The popular ‘Vividh Bharati’ services of All India Radio (AIR) will now be available to listeners in and around Delhi on mobile handsets with the launch of FM transmission of the channel.

ii. Information and Broadcasting Minister Arun Jaitley, who launched the FM transmission, also delivered a message to the listeners of the channel, saying Vividh Bharati services would reach people within a range of 60-65 km with much clarity at all times in all weather conditions.

iii. Vividh Bharati offers a mix of film music, skits, short plays and interactive programmes. It is known to have the largest collection of film and non-film songs in the country.

iv. Mobile applications of all channels that are livestreamed by AIR like Vividh Bharati, FM Gold, FM Rainbow, Urdu service and several regional channels, will also be made available.

4. FDI in services sector up 47 per cent during April-January

i. FDI inflows into services sector grew by about 47 per cent to $2.64 billion in April-January last fiscal.

ii. Helped with the growth in FDI in important sector like services, overall foreign inflows in the country rose by 36 per cent to $25.52 billion during the ten months of 2014-15.

iii. The other sectors where inflows have recorded growth are: telecom ($2.83 billion), automobile ($2.04 billion) and power ($612 million).

iv. Government has raised the FDI cap in insurance sector to 49 per cent from 26 per cent. The policy was also relaxed in other sectors such as defence, railways and medical devices.

5. Retail inflation drops to 3-month low of 5.17% in March

i. Easing of food prices, mainly milk and vegetables, pulled down the March retail inflation to 3-month low of 5.17 per cent.

ii. The retail inflation as measured by Consumer Price Index was 5.37 per cent in February, and 5.19 per cent in January.

iii. It was 8.25 per cent in March last year.

iv. To calculate the CPI, price data are collected from selected towns by the field operations division of NSSO and from selected villages by the Department of Posts.