Pinnacle – The MBA Entrance Course

Make it happen
Dear student,

Her father almost perished in the carnage that followed Partition. She was born with a major
handicap of being a girl in a state, which would rather celebrate boys. She was expected to
join her father's tyre manufacturing business. She had resigned herself to teaching because her
father was too busy to be even aware of her existence, leave alone her ambition. Finally, what
happened to her? She became the first woman from India to go into space. She was Kalpana
Chawla.

Yes, we are talking of Kalpana Chawla who, unfortunately, perished with her fellow astronauts
as Columbia exploded minutes before touch down on February 1, 2003.

According to one of her former teachers, as reported by The New York

Times, young Kalpana would say, ''I have to do this thing, and I'll do
it.'' That attitude sums up the secret of her success.

Cut to you.

You are at the start of your own journey into space. After man y
gruelling weeks and months of preparation, you will step into your
spaceship and blast off into a brilliant career, powered by your MBA
qualification.

This is no science fiction. This trip is for real. What do you intend to
do? Withdraw and attempt something safer? Try to be brave and say
koshish karenge? Or roll up your sleeves, smi le at destiny and say, kar
ke dikhayenge?

That's our mantra at PT kar ke dikhayenge. Now that you have

chosen us to help you, we are sure you too share the kar ke
dikhayenge approach.

Here at PT, we like to think of ourselves as

enablers. We have had the privilege of helping
many walk on the moon, in a manner of speaking.
But that is not the end for us. We keep targeting
new planets and solar systems. There is always a better way, we believe. And that conviction
is what has kept us the light years ahead of others.

Boosting your launch will be our TDpro Engine – technology-driven process engine. TDpro Engine
ensures that every single process – course design, course delivery, centre infrastructure, faculty
selection, faculty training, website content updating, students resources management, HR operations,
marketing seminars, materials management, IPR control and management, centre administration,
etc. – is scientifically documented and controlled to give you, the user, the best advantage.

The voyage you are set for requires discipline and perseverance. It is as demanding as it is
rewarding. Your determination and hard work can change the course of your life. We at PT will
be happy to provide you the right launching pad.

Yes, we will help you make it happen! Hum kar ke dikhayenge!

Begin the countdown and prepare to zoom up! We are with you. All the way.

Sandeep Manudhane,
Founder Chairman
PT Education

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 CONTENTS
ITEM PAGE No.

Updates 2007-08 – National ......................................... 3

Updates 2007-08 – International ................................. 16
Events 2007-08 – National (Monthwise) ..................... 27
Events 2007-08 – International (Monthwise) ............. 39
Events 2007-08 – Sports .............................................. 48
Events 2007-08 – Science and Space ......................... 54
Business Updates ........................................................... 56
Science Updates ............................................................ 65
Sports Updates .............................................................. 67
Awards/Prizes – National ............................................... 70
Awards/Prizes – International ....................................... 72
Indian Economy Data ..................................................... 74
Business & Economy - Misc. .......................................... 79
Latest Who’s Who – India ............................................ 81

Council of Ministers ...................................................... 81

Chiefs of Armed Forces ............................................... 83

Judiciary ........................................................................ 83

Capitals, Governors and Chief Ministers of States .... 84

Capital, Lt. Governor and Chief Minister of
National Capital Territory ............................................ 85

Capitals, Lt. Governors/Administrators and
Chief Ministers of Union Territories ............................. 85
Heads of important offices [India and World] ............. 86
Latest who’s who – World ........................................... 92
General Awareness – Quiz ............................................ 93-148
General Awareness – Objective key ............................ 148-149
Business Compendium ................................................... 150-202

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 They know
enough who know how
to learn.
UPDATES 2007-08
NATIONAL

Supreme Court Order for
Compulsory Registration of
Marriages in All Religions.
In a very significant directive to all
States and Union Territories, the
Supreme Court of India ordered on
October 25, 2007, compulsory
registration of marriages of couples from
all religions throughout the country. As
per its earlier order, the Supreme Court
directed all States and Union Territories,
which have not enacted rules to this
effect so far, to frame the necessary
rules within a period of three months.
The Supreme Court’s latest order was
passed by a Bench comprising Justice
Arijit Pasayat and Justice P. Sathasivam
on a petition filed by a divorcee, named
Seema, who sought directions for making
registration of marriages obligatory. The
Bench categorically stated in its order
that marriages should be compulsorily
registered “in respect of persons who
PT Education, All rights reserved.
are citizens of India even if they
belonged to various religions.”
In its earlier order on February 14,
2006, the Supreme Court had directed
that all marriages in the country should
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unique Technology Driven Process Engine (TDPro engine).
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be registered irrespective of the faith
of the couple who tied the knot.
However, in the wake of that order,
various States as well as UT
Governments reported compliance under
Hindu Marriage Act only. In a majority
of cases suggesting non-compliance,
religious barriers governing the
matrimonial custom and its registration
emerged as the biggest stumbling block
refraining the Governments from
uniformly bringing the Court’s order into
effect. One of the fundamental
objectives of the Court’s order was to
curb the practice of child marriage, still
prevalent in several regions.
Subscribing to the view expressed by the
National Commission for Women on this
issue, the Court stated that compulsory
registration of marriages would be
extremely significant as regards a gamut
of women-centric issues such as
prevention of child marriage and ensuring
a minimum age of marriage; prevention
of marriages without the consent of
parties involved; checking illegal bigamy/
polygamy; enabling married women to
claim their right to live in the matrimonial
home, maintenance and so on.
Corp. Office: Delhi Regd. Office: Indore
PT centres spread across India ~ Established 1993
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UPA Chairperson Sonia Gandhi’s
Address To UNGA On Inter-
national Day Of Non-Violence
In her landmark address to the 192-member
UNGA (United Nations General Assembly)
at its annual session in New York on
October 2, 2007, UPA Chairperson and
Congress President Ms. Sonia Gandhi
spoke of the international community’s
“collective failure” to move towards
comprehensive universal disarmament.
She also referred to the “disturbing
emergence” of non-state players in the
spread of terrorism. The occasion of her
address to the UNGA assumed a
m o m e n t o u s
significance as the
United Nations
observed “Father of
the Nation” Mahatma
Gandhi’s birthday as
the first International
Day of Non-violence.
“It is not the relevance of Mahatma Gandhi
that is in question today ... it is whether
we have the courage to emulate his
preachings and what he lived and died
for,” Ms. Gandhi said in her address. She
was heard in rapt attention by leaders
from different nations and her son
Mr. Rahul Gandhi, External Affairs Minister
M r. P ra n a b M u k h e r j e e a n d h i s d e p u ty
Mr. Anand Sharma.
Ms. Gandhi said the world was facing
violence of various kinds and there was a
collective failure on the part of the
international community in tackling
terrorism and checking nuclear
proliferation. The United Progressive
Alliance Chairperson also had a word of
caution for representatives from across
the world, asking them not to make the
Mahatma Gandhi’s birth anniversary
another annual ritual. Fallacies about non-
violence abound, Ms. Gandhi said,
rejecting the contention by some that it
was a sign of weakness or cowardice.
“Nothing could be further from the truth,”
she told sceptics, adding non-violence
went far beyond passive resistance or even
civil disobedience.
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Ms. Gandhi aptly maintained that practising
non-violence in its true spirit calls for “strict
discipline of mind: the courage to face
aggression, the moral conviction to stay
the course and the strength to do so
without harbouring any malice towards
the opponent.” She opined that at the
heart of Mahatma Gandhi’s philosophy of
non-violence was his belief that strength
came from righteousness, not force; power
came from truth, not might; victory came
from moral courage, not imposed
submission.
Touching upon Mahatma Gandhi’s idea
that means and ends are inseparable,
she said that his time-tested worldview
considered means themselves to be
mother of the ends. So, he held that
unworthy means could never produce
worthy ends.
Now, as we take a look at history, both
past and contemporary, there is every
reason to believe that violence has only
begot violence in an unending spiral,
fostering hatred and revenge. “Violence
seeks to impose and overwhelm, which is
why its victories are transitory. Non-
violence seeks to engage and persuade,
which is why its results are enduring,”
Ms. Gandhi said amidst cheers.
Emphasising that the Mahatma himself
was, first and foremost, a man of action,
she said that he was indeed a man of
deep contemplation and galvanising
e n e rgy.
“It is this energy that enabled him to
overcome resistance arising from
hostility, indifference and cynicism. It is
this energy that gave him the resilience
to press ahead, in spite of tremendous
obstacles and tribulations,” the Congress
leader said and recalled the Mahatma’s
remark, “We must ourselves become the
change we seek”.
If the 20th century was the bloodiest in
human history, it was also the century
when non-violence saw its greatest
triumphs, cutting across the boundaries
of continents and faiths. “It is worth
remembering that among the myriad civil
disobedience movements, the only army
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of non-violence was the one led by Khan
Abdul Ghaffar Khan, known to history as
‘the Frontier Gandhi’,” Ms. Gandhi said.

President Launches “Save the
Girl Child” Campaign
Hon’ble President Ms. Pratibha Patil on
October 2, 2007, described the declining
girl child ratio in the country as a “matter
of shame,” and said girls should be
treated not as a “curse” but as a “boon.”
Launching a “Save the Girl Child”
campaign of the Union Health and Family
Welfare Ministry on the occasion of
Gandhi Jayanti in New Delhi, Ms. Patil
said it was a matter of shame that the
disturbed sex ratio was seen not only in
the backward States, but also in the
progressive society. The President, who
was the first signatory of the campaign,
said it was a matter of concern that the
phenomenon was seen among those
educated and having a status in society.
“This disturbing sex ratio was creating a
big problem. This could develop into a
crime, which would not be good for the
stability and security of the society”, she
said. Misuse of technology to determine
the sex of the foetus and easy access to
it had contributed to the rapid decline in
the child sex ratio which could adversely
impact the delicate balance of nature and
destroy the moral and social fabric. The
President said the launch of the campaign
would have a far reaching impact on the
minds of people.
Union Health and Family Welfare Minister
Dr. Anbumani Ramadoss said he was not
only “concerned” at but also felt
“ashamed” of the current trend of
declining girl child ratio in the country.
“We have to reverse the trend. For this
we have launched many campaigns.
Parliamentarians were allotted Rs. 5 lakh
each to create awareness of the
subject”, he added.
The President also launched a
tuberculosis seal to create awareness
and raise funds to fight the disease in
N e w D e l h i o n O c t o b e r 3 , 2 0 0 7. T h e
attractively designed seal costs Rs. 2.
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It will be
available at all-
State TB
associations,
hospitals,
primary health
centres and
DOTS clinics. It
was designed
by the
Tuberculosis Association of India. Dr.
Ramadoss briefed the President on the
country’s success in checking the spread
of TB and the effectiveness of the
programme that was able to save six
million lives since its inception.
“Since the launch of the programme in
1998, we have been able to bring down
the death rate and seen an increase in
the detection rate. The WHO has
awarded the programme as the largest
public health campaign in the world,” Dr.
Ramadoss said.
As part of the celebrations of the 60th
Year of Independence, Shahid Bhagat
Singh’s birth centenary ‘and the
anniversary of the First War of
Independence, the President also
released a commemorative gold medallion
at a separate function at the Rashtrapati
Bhavan. The medallion is a tribute to
the freedom fighters and salutes the
undying spirit and emotions of Indians.

58th International Astronautical
Congress At Hyderabad
The 58th International Astronautical
Congress (IAC) was inaugurated by the
Minister of State in the Prime Minister’s
Office, M r. P r i t hv i r a j Chavan at
Hyderabad on September 24, 2007. As
many as 2,000 delegates, including chiefs
of several national space agencies from
different countries, took part in the IAC.
A series of lunar missions planned by
Japan, China, Russia, the US and India
and later missions of land rovers and
human beings to Mars came sharply into
focus at the IAC plenary, when the
heads of top national space agencies
gathered to answer questions from
delegates.
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In his opening speech, Mr. Chavan urged
the space-faring nations to promote an
ethical, legal framework for the use of
space and to prevent it from becoming
“a future war zone.” He reminded the
delegates about the dangers of
extending the conflicts on earth into
outer space and “turning space into a
b a tt l e f i e l d o f fu t u re .” “ O u r c o m m o n
resolve is essential to prevent such an
e ve n t u a l i ty ”, h e s a i d . Re c a l l i n g t h e
former Prime Minister Indira Gandhi’s
message to the second UN Conference
on Peaceful Use of Outer Space, he
urged scientists and leaders “to see the
world in its wholeness, as indeed it is
viewed from space, and through their
collective wisdom, take practical steps
to ensure that our differences are not
extended into space.”
Mr. Chavan said that a robust system
for the protection of space assets,
whether used for military, commercial or
societal applications, would be needed
to be addressed urgently through
appropriate legal, technical and
cooperative mechanism. There was also
an urgent need to design regulations to
minimise the menace of growing debris
in outer space. Mr. Chavan said that the
Indian Space Programme has planned
about 60 missions over the next five
years for achieving several new
objectives in different fields, including
navigation and space transportation.
ISRO Chairman Mr. G. Madhavan Nair
said the organisation was entering the
next phase of space vision with
components of advanced technologies for
low-cost access to space planetary
exploration and manned mission
initiatives in the next few decades. He
said the Government had not yet taken
any decision to send an Indian into
space.
In their speeches, International
Astronautical Federation President
Mr. James V. Zimmerman, International
Academy of Astronauts’ President
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Mr. Edward C. Stone and International
Institute of Space Law (IISL) President
Mr. Nandasiri Jasentuliyana highlighted
different dimensions of space activities
today, the global character of these
activities and their numerous
implications.
M r. B . N . S u r e s h , C h a i r m a n , l o c a l
organising committee, said there were
gaps in knowledge in understanding the
phenomenon of global change and space
scientists should focus on this. He said
there was renewed interest in robotics
and human exploration of space.
D r. M i c h a e l G r i f f i n , A d m i n i s t r a t o r,
National Aeronautics and Space
Administration (NASA), US, said he was
convinced that the first human being
would land on Mars in 2037. “When this
c o n f e r e n c e m e e t s i n 2 0 5 7, I a m
convinced that we will be able to
celebrate the 20th anniversary of the
f i r s t h u m a n l a n d i n g o n M a r s . . .”, h e
asserted at the Congress. Dr. Griffin said
the next step in space exploration would
be one step beyond the International
Space Station (ISS), where 15 partners
of the US were engaged in building a
platform for humanity above the earth’s
atmosphere.
Dr. Sun Laiyan, Administrator of CNSA
(China National Space Administration)
revealed that his country had planned
its missions to the moon in three stages:
orbiting, roving and returning. China had
no plans to send a man to the moon.
B u t D r. L a i y a n w a s c o n f i d e n t t h a t
“ h o p e f u l l y, t h e o b j e c t i v e w o u l d b e
fulfilled later.”
D r. K e i j i Ta c h i k a w a , P r e s i d e n t o f
Japanese Space Exploration Agency, said
Japan would send a series of spacecraft
to the moon to explore it further. “Our
future programme in human space flight,”
s a i d M r. A n a t o l y N . Pe r n i m ov, H e a d ,
Federal Space Agency, Russia, “will be
in three major steps” starting in 2015
and continuing upto 2040.
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Sethu Project: Centre To
Consider Alternative Alignment
In a major development, the Centre on
September 14, 2007 informed the
Supreme Court that it would consider
executing the Sethusamudram shipping
channel project through an alternative
alignment so that the 30-km-long Ramar
Sethu/Adam’s Bridge could be protected
from damage. The feasibility of
alternative alignments would be
considered in three months, Additional
Solicitor-General Mr. Gopal Subramaniam
told a Bench consisting of Chief Justice
K . G . B a l a k r i s h n a n a n d J u s t i c e R . V.
Raveendran. It was hearing a batch of
petitions filed by Janata Party president
M r. S u b r a m a n i a n S w a m y a n d o t h e r s
seeking a direction to protect and declare
Ramar Sethu a national monument.
The ASG said, “The Central Government
has taken note of the wide-ranging
public sentiment, which has been
expressed in respect of the decision to
proceed with the construction of the
Sethusamudram shipping channel. The
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Central Government has total respect
for all religions and Hinduism in particular
in the context of the present case.”
M r. G o p a l S u b r a m a n i a m s a i d t h e
Government would review the matter. A
mechanism would be set up to consider
objections/suggestions from petitioners
and others, and a final decision on the
alignment would be taken in three months.
In view of this, he said, the Centre and
the Archaeological Survey of India
decided to withdraw the entire counter-
affidavits filed on September 10 and 11,
2007 and sought permission to do so. He
said, “The Central Government is also
keen that its decisions bind and bring
society together, rather than cause any
disruption in the religious and social
psyche of one true India.”
Earli e r, the Centr e had stated in one
affidavit that the studies conducted by
the Geological Survey of India between
December 2002 and 2005 also conclusively
established that Adam’s Bridge was a
natural geological formation comprising
compact clay, calcareous sandstone and
fossiliferous limestone.
On the plea for an alternative alignment,
the Centre had stated that the alignment
No. 6, which was the present alignment of
the Sethusamudram project, had been
validly resorted to after a due
consideration of all relevant factors,
including ecological factors. None of the
other alternatives which are suggested by
the petitioner are viable alternatives.
The ASI had submitted that there was no
evidence to prove “the existence of the
characters or the occurrence of the
events” in the Ramayana. Later on, the
Law Minister M r. H . R . Bhardwaj
announced that the objectionable
portions in the ASI affidavit would be
withdrawn and a supplementary affidavit
filed.
When the matter was taken up, the ASG
said, “We have decided to withdraw the
two affidavits and placed before the
court new submissions.” Dr. Subramanian
Swamy said certain documents in the
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government’s possession should be made
available to him. The ASG replied that
whatever documents or material were in
its possession would be given on receipt
of an application.
Senior counsel Mr. K.K. Venugopal and
M r. M . N . K r i s h n a m a n i , a p p e a r i n g f o r
petitioners Dandi Swami Sri Vidyananda
Bharati and Amagopalan, said the
Government must consider their
suggestions. The ASG said it would
consider all points of view and take a
final decision.
Recording the submissions, the Bench
extended till January 2008 the August
31 interim order, which said “the dredging
activity may be carried out, but till
September 14 the alleged Adam’s Bridge/
Ramar Sethu shall not be damaged in
any manner.” It posted the matter for
further hearing in the first week of
January 2008.

India Joins Select Group To
Develop Technology For UCAV
India has joined a select group of
countries that have launched
programmes to develop technology for
an Unmanned Combat Aerial Vehicle
(UCAV). The UCAVs or ‘combat drones’,
which are the latest addition in
Unmanned Aerial Vehicles (UAVs) are
different from the latter as they have
specific designs to deliver weapons and
attack targets. They have a higher
degree of autonomy.
The Indian programme is indeed the
result of concerted efforts of the
Defence Research and Development
Organisation (DRDO). It will promote the
development of know-how for a swept
wing, stealth design and composite
construction technical demonstrator that
will demonstrate “the technical feasibility,
military utility and operational value for
a networked system of high
performance” weaponised UCAVs.
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The DRDO’s Chief Controller, Research
and Development (Aeronautics and
Material Sciences), Mr. D. Banerjee said
that with “stealth obviously be an
important issue” the fuselage would
have to carry internally housed weapon
bays. Stealth would also need the power
plant to be internally mounted and of a
non-after burning turbofan engine type.
However, specifications for issues like
p a y l o a d , r e t r a c t a b l e l a n d i n g g e a r,
endurance and hard points for auxiliary
fuel tanks are yet to be finalised. The
DRDO has already made arrangements
for radar cross simulation (identification
of radar reflecting areas) and
measurement of radar cross section (the
extent to which an object reflects an
incident electromagnetic wave). The
nodal agency for the UCAV programme
is the Bengaluru-based Defence Research
and Development Organisation
Laboratory and the Aeronautical
Development Establishment. The UCAV
will be programmed with route and target
details and can conduct the mission
virtually autonomously, without human
controllers.
The DRDO was looking for a partner from
private sector for its Medium Attitude
Long Endurance (MALE) Unmanned Aerial
Vehicle (UAV). It is expected that the
DRDO’s MALE surveillance UAV will have
an endurance of 24 hours and can
operate at 35,000 feet. It will also have
autonomous take-off and landing,
wheeled undercarriage and a single
(Rotax) piston engine.
The other global programmes are the
French nEWROn, Israel’s Eitan, British
Taranis, China’s Anjian and the US’s X-
45. These programmes imply that the
technology are in various stages of
development. The UCAV can be utilised
for suppression of enemy air defence,
electronic warfare, surveillance, precision
strike and associated operations.
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New President Of India
Ms. Pratibha Patil
was sworn in by
Justice K.G.
Balakrishnan, Chief
Justice of India, on
July 25, 2007, as
the first woman
President and in
all, the 12th
President of the
Republic of India. Earlier, on July 22,
2007, Ms. Pratibha Pa t il, the United
Progressive Alliance-Left candidate for
the Presidential election was declared
elected for the post of the President of
India. Ms. Patil’s victory over her NDA-
backed rival and outgoing Vice-President
Mr. Bhairon Singh Shekhawat capped a
long and bitter contest hitherto
unprecedented in the annals of Indian
history.
Born on December 19, 1934 in Nadgaon
(Jalgaon district, Maharashtra), Ms. Patil
is also the first Maharashtrian to hold
the country’s most august office.
Throughout her long and successful
c a r e e r, s h e h a s h e l d a n u m b e r o f
important designations. A trained
l a w y e r, s h e r e p r e s e n t e d E d l a b a d
constituency in Jalgaon district as a
Member of Maharashtra Legislative
Assembly from 1962 to 1985. Ms. Patil
was a Member of Parliament from
Amravati Lok Sabha constituency for five
years (1991 - 1996). She was Deputy
Chairperson of the Rajya Sabha for two
years (November 1986 – November
1988). She was also the first woman
Governor of Rajasthan from 2004 to
2007.

New Vice-President Of India
Former diplomat Mohammad Hamid Ansari
was administered the oath of office by
Hon’ble President Ms. Pratibha Patil at
the Rashtrapati
Bhavan on August 11, 2007. He took
charge as Rajya Sabha Chairman on
A u g u s t 1 3 , 2 0 0 7. E a r l i e r, h e w a s
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declared elected on
August 10, 2007, as
the country’s 12th
Vice-President. In a
triangular contest in
which Mr. Ansari was
pitted against the
National Democratic
Alliance (NDA)
nominee, Ms. Najma
Heptulla and the
United National Progressive Alliance
(UNPA) candidate, Mr. Rasheed Masood,
he emerged winner securing 455 out of
the 762 votes polled.
Born in Kolkata on April 1, 1937, Mr.
Ansari is the grand nephew of freedom
fighter and former Congress President
(1927) Mukhtar Ahmad Ansari. Starting
his career as a civil servant in the Indian
Foreign Service in 1961, he held
prestigious posts such as the Permanent
Representative of India to the United
Nations, High Commissioner to Australia
and Ambassador to the United Arab
Emirates, Afghanistan, Iran and Saudi
Arabia. He also served as the Vice-
Chancellor of the Aligarh Muslim
University from May 2000 to March 2002
and then, as the Chairman of India’s
National Commission for Minorities
(NCM). He was awarded the Padma Shri
in 1984.

Supreme Court Refuses To
Vacate OBC Quota Stay
The Centre’s bid to get the OBC
reservation implemented in educational
institutions from the current academic
year suffered a serious jolt on August
8 , 2 0 0 7, w h e n t h e S u p r e m e C o u r t
refused to grant a relief to the
Government in this regard. The Court
categorically stated that the Government
had failed to do the necessary
groundwork for getting prior approval
from competent authorities to increase
the number of seats with a view to
accommodating quota students. It was
noted by the Apex Court that the
implementation of the quota in medical
colleges, dental colleges and engineering
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institutions was out of question this year
since the Centre did not seek the
mandatory prior approval of the Medical
Council of India, Dental Council of India
a n d A l l - I n d i a C o u n c i l f o r Te c h n i c a l
Education.
The Bench comprising Justices Arijit
Pasayat, C.K. Thakker, R.V. Raveendran
and Dalveer Bhandari, said if the
medical, dental and engineering colleges
were to be kept out, there was no
question of implementing the quota in
other institutions where such approval
had even been obtained.

Indo-US Nuclear Deal
Cabinet Approval
The Indo-US civilian nuclear agreement
has been approved by the Union Cabinet.
Following a high-level meeting of the
Cabinet Committee on Security and
Political Affairs, External Affairs Minister
Mr. Pranab Mukherjee said that all the
requirements from the Indian side have
been met. Mutual consensus on the final
manuscript of the deal was arrived at
during a meeting in Washington between
Foreign Secretary Mr. Shivshankar Menon
and US Deputy Secretary of State Mr.
Nicholas Burns. The meeting was
attended by National Security Adviser
Mr. M.K. Narayanan and Nuclear Energy
Commission Chairman Mr. Anil Kakodkar.
The final approval was granted in a
cabinet committee meeting on nuclear
security presided over by Prime Minister
Dr. Manmohan Singh on July 25, 2007.
E a r l i e r, t h e d ra f t o f t h e d e a l w a s
prepared during the four-day secretarial
level talks between the two countries.
Subsequently, on July 27, 2007, India
and America declared the civilian nuclear
deal recognized. Indian authorities have
proclaimed that its indigenous nuclear
programme is quite safe.

Eighth World Hindi Conference
The three-day eighth World Hindi
Conference came to an end at the UN
headquarters in New York on July 15,
2007, with an appeal to India to make a
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concerted effort to mobilise other
nations towards giving recognition to
Hindi as the seventh official language of
the United Nations. The six UN languages
are English, French, Spanish, Russian,
Chinese and Arabic. The conference also
appealed to expatriate Indians to
pressurise their respective governments
to support this move.
The conference had nine thematic
sessions at which scholars from India
and abroad, including scholars from non-
Hindi speaking regions, presented papers
on subjects ranging from Hindi and IT to
the role of Bollywood in the promotion
Gets
of Hindi. Eminent figures of Hindi
literature and authors in different related
dialects also attended the event. The
concluding session saw 14 significant
proposals being put forward with a view
to promoting the use of Hindi globally
and making it popular through broad-
based efforts at different levels.
Earlier, United Nations Secretary-General
Mr. B an Ki-moon drew wide applause
when he inaugurated the Eighth World
Hindi Conference on July 13, 2007, with
a sprinkling of Hindi. “Is sammelan mein
bhag lete hue mujhe bahut khushi ho
rahi hai, aur mai sab ko shubhkamnayen
deta hun (I am very happy to participate
in the conference, and convey my best
wishes to all participants)”, said Mr.
Moon at the end of his speech.
P r i m e M i n i s t e r D r. M a n m o h a n S i n g h
expressed the hope through his message
about Hindi getting the attention it
deserved in the United States.
Addressing the gathering through video-
conference from New Delhi, Dr. Singh
said it was important to improve the
language’s compatibility with the
Internet.

Red Fort Of Delhi On World
Heritage List
Delhi’s Red Fort, a majestic fort built by
Mughal emperor Shah Jahan has found
a place in UNESCO’s World Heritage List.
The decision to include the Red Fort on
the list was taken on June 28, 2007, in
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New Zealand by the World Heritage
Committee. This puts the National Capital
at par with Agra, each with three World
Heritage Sites now.
Built in the 17th century, the Red Fort
has much more to offer than the
influence of Shah Jahan’s obsession with
perfection. With its own special place in
modern Indian history, the Red Fort is a
collage of different periods from the
Mughal to the British. The World Heritage
Committee also inscribed three other
cultural sites – the Iwami Ginzan Silver
Mine and its Cultural Landscape in Japan,
the Parthian Fortresses of Nisa in
Turkmenistan, and the Sydney Opera
House in Australia.

BrahMos Handed Over To The
Army
Inaugurating
a function at
the BrahMos
Aerospace
C o m p l e x ,
which marked
the handing
over of a
replica of the
M o b i l e
Autonomous
Launcher (MAL) of the missile to the
I ndian Army, the then President Dr.
A.P.J. Abdul Kalam said in New Delhi on
June 21, 2007, that the time has come
for BrahMos Aerospace Limited to work
on the Mark-II version of the BrahMos
supersonic cruise missile so that we could
still be the market leader in hypersonic
cruise missiles. In the emerging network-
centric warfare scenario, the fast
deployment of hypersonic missile systems
will be necessary to maintain our force-
level supremacy, he said. BrahMos is a
product of India-Russia cooperation.
Dr. Kalam congratulated Dr. A. Sivathanu
P i l l a i , C E O a n d M a n a g i n g D i r e c t o r,
BrahMos Aerospace, and Dr. Herbert A.
Ye f r e m o v, Director-General, NPO
Mashinostroyenia (NPO-M), Russia, and
the Defence Research and Development
Organisation (DRDO) on realising the
IC : PTpnsgk01
missile project. The NPO-M is the Russian
partner of the joint venture.
BrahMos can fly at a velocity of 1 km a
second and its range is 290 km. It can carry
conventional warheads weighing 300 kg,
and is nine metres long and has two stages.

Kamat Is New Goa CM
Mr. Digambar V. Kamat was sworn in as
the 19th Chief Minister of Goa on June
8 , 2 0 0 7. H e w a s p r o p o s e d a s a
consensus candidate for the Congress
Legislature Party (CLP) leadership by the
Pradesh Congress Committee President
Mr. Ravi Naik and outgoing Chief Minister
Mr. Pratapsinh Rane after the former
failed to muster support from some
crucial allies. Mr. Kamat, who joined the
Congress after playing a key role in
toppling the BJP Government in 2005,
was administered the oath of office and
secrecy by the State Governor, Mr. S.C.
Jamir at the Raj Bhavan.
Earlier, in the Goa Assembly elections,
the Congress-NCP (National Congress
Party) alliance emerged as the largest
combination by winning 19 seats in the
40-member Legislative Assembly of the
State. As per the results announced on
June 5, 2007 in Panaji, the BJP (Bharatiya
Janata Party) bagged 14 seats. Among
other political parties, the Save Goa Front
(SGF) and the Maharashtra-wadi
Gomantak Party (MGP) won two seats
each while the United Goans Democratic
Party (UGDP) got one seat.

Mayawati Sworn In As The New
Uttar Pradesh CM
BSP (Bahujan Samaj Party) Chief
Ms. Mayawati was sworn in on May 13,
2007, as the 32nd Chief Minister of Uttar
Pradesh. She was administered the oath
of office and secrecy by the State
Governor Mr. T.V. Rajeswar at the Raj
Bhawan in Lucknow. Along with
Ms. Mayawati, who became the Chief
Minister of the country’s most populous
State for the fourth time, a 49-member
Ministry led by her including 19 Cabinet
rank Ministers also took oath and
assumed office.
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Earlier, results of
the Assembly
elections in UP
were announced
on May 11, 2007.
By registering
victory in 206 out
of 403 Assembly
constituencies for
which the
elections were
held, BSP led by
Ms. Mayawati
emerged as the largest party, while the
Samajwadi Party (SP), led by the
o u t g o i n g C h i e f M i n i s t e r M r. M u l ay a m
Singh Yadav, ended up with 97 seats
only. The Bharatiya Janata Party (BJP)
and the Congress managed to secure 51
and 22 seats, respectively while other
parties and independents together had
27 seats in their kitty.

World’s Biggest Aircraft Lands
In India
The world’s biggest passenger aircraft –
Airbus A380 – that can seat up to 850
passengers cruised through Indian skies
and landed in New Delhi for the first
time on May 6, 2007. The A380, the
world’s first double-deck passenger
aircraft, landed at the Indira Gandhi
International Airport at Runway 10. The
aircraft, which
reached Delhi as part of world tour, was
parked at the terminal near the Air
Traffic Control (ATC) building. During its
India visit, it took some VIPs on a flight
over Delhi and on May 8, 2007 it took
off for Mumbai. The 80-foot tall giant
aircraft flew off from Mumbai on May 9,
2007.
The four-engined airliner, which has been
manufactured by the European
Aeronautic Defence & Space Co. has a
wingspan of about 262 feet (79.8 m), a
length of 239 feet (73 m) and a maximum
take-off weight of more than 5,40,000
kg (1.2 million pounds), is ‘almost as big
as a football field’. In India, private airline
Kingfisher is the only carrier that has a
firm order for five A380 aircrafts.
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Kingfisher is due to take delivery of the
aircraft in 2011-12.
A380 can land and takeoff on any runway
that can accommodate a Boeing 747, but
airports will have to do some
modifications for its weight and
w i n g s p a n . I n c i d e n t a l l y, o n l y t h r e e
airports in India – Delhi, Mumbai and
Kochi – can accommodate the aircraft.

14th SAARC Summit
The 14th Summit of the leaders of South
Asian Association for Regional
Cooperation was held on April 3-4, 2007
in New Delhi. Apart from Prime Minister
Dr. Manmohan Singh, the other leaders
of the member nations of the regional
grouping who attended the summit
included the Sri Lanka President
D r. M a h i n d a R a j a p a k s a , B a n g l a d e s h
interim Government’s Chief Adviser
Mr. Fakhruddin Ahmad, Maldives President
Mr. Maumoon Abdul Gayoom, Nepal Prime
Minister Mr. Girija Prasad Koirala, Pakistan
Prime Minister Mr. Shaukat Aziz, Bhutan
P r i m e M i n i s t e r M r. Ly o n p o K h a n d u
Wangchuk and Afghanistan President
Mr. Hamid Karzai. Earlier, Afghanistan
formally joined SAARC as the 8th member
of the regional grouping.
Terrorism, trade and transit were the
three major issues at the landmark summit
of an expanded SAARC. The summit
underscored a larger global interest in
the region with the United States, the
European Union, China, Japan and South
Korea participating as observers for the
first time in the 22-year-old history of
the regional grouping. The focus of the
opening session of the summit was on
making the SAARC a more efficient
organisation and implementing crucial
regional projects that have been long
under discussion. SAARC leaders
discussed the contours of a South-Asian
University to be set up in India. An
intergovernmental agreement was signed
to this effect and the details in that
regard were worked out.
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Other important intra-regional projects
that were discussed included the
institution of a SAARC Development Fund,
a Regional Telemedicine Network and a
Regional Food Bank. India pressed for
more intra-regional cooperation in
combating the common scourge of
terrorism in the region. India’s concern
about terrorism in the region is directly
linked to its broader agenda of promoting
greater connectivity and free trade in
the region.

Cauvery Tribunal Gives Final
Award
The Cauvery Water Disputes Tribunal
gave its much awaited final award on
February 5, 2007 setting out the share
of waters of the Cauvery among the
riparian States of Tamil Nadu, Karnataka
and Kerala, and the Union Territory of
Pudicherry. The proceedings over the
politically sensitive issue went on for more
than 16 years. The Tribunal, comprising
C h a i r m a n J u s t i c e M r. N.P. S i n g h a n d
members Mr. N.S . Rao and Mr. Sudhir
Narain, in a unanimous award determined
the total availability of water in the
Cauvery basin at 740 thousand million
cubic feet (tmcft) at the Lower Coleroon
Anicut site on the basis of 50 percent
dependabil ity.
In a balancing act it apportioned the
total as follows: for Tamil Nadu, 419
tmcft (as against the demand of 562
tmcft); Karnataka 270 tmcft (as against
its demand of 465 tmcft); Kerala 30 tmcft
and Puducherry 7 tmcft. The quantum
reserved for environmental protection is
10 tmcft, and that determined for
inevitable “escapages” into the sea is 4
tmcft.

International Centennial
Conference On Mahatma
Gandhi’s Satyagraha
A two-day international conference was
held at Vigyan Bhavan in New Delhi on
J a n u a r y 2 9 - 3 0 , 2 0 0 7, t o m a r k t h e
centenary of Mahatma Gandhi’s timeless
principle of Satyagraha. The conference,
organised by the AICC (All India Congress
IC : PTpnsgk01
Committee)
registered the
participation
of political
l e a d e r s ,
diplomats,
thinkers,
intellectuals,
farmers and
social activists
from over 90
countries.
In the opening session UPA Chairperson
and President of the Congress Party
Ms. Sonia Gandhi and ‘Father of the
Nation’ Mahatma Gandhi’s granddaughter
Ms. Ila Gandhi, besides foreign
dignitaries including the former Zambian
President Mr. Kenneth Kaunda, former
President of Poland and Nobel laureate
Mr. Lech Walesa, President of Maldives
Mr. Momoon Abdul Ghayoom and 2006
Nobel Peace Prize winner Mr. Muhammad
Yunus addressed the conference. Nobel
laureate Archbishop Desmond Tutu from
South Africa was another notable
international personality who spoke
during the conference.
At the end of the conference, around
400 delegates from 90 nations and 122
organisations signed the landmark
“ S a t y a g ra h a C e n t e n a r y D e c l a r a t i o n ”,
showing a global unanimity on the
relevance of Mahatma’s ideals in
poverty, hunger and disease – and to
pave the way for peace and harmony.
The delegates appealed to the United
Nations to declare October 2, the
Mahatma’s birthday, as the International
Non-violence Day.

Landmark Visit Of Russian
President Vladimir Putin
On a landmark visit aimed at
consolidating the bedrock of Indo-
Russian cooperation, President Vladimir
Putin of Russia reached New Delhi on
January 25, 2007. After bilateral talks
between Prime Minister Dr. Manmohan
Singh and Russian President Mr. Vladimir
Putin, the two sides agreed to take their
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Justice Balakrishnan Becomes
37th Chief Justice Of India
Justice K.G. Balakrishnan (62), the
seniormost judge of the Supreme Court,
took over as the 37th Chief Justice of
I n d i a o n J a n u a r y 1 4 , 2 0 0 7. H e
succeeded Justice Y.K. Sabharwal who
retired on January 13, 2007. Earlier, the
formal notification on the appointment
was issued on December 26, 2006. With
his appointment to the topmost office of
Indian Judiciary, he has become the first
Chief Justice of India belonging to the
Scheduled Caste. He will have a tenure
relations to “new heights” in all other till May 2010.
areas particularly defence, trade, space At the beginning of
a n d s c i e n c e a n d t e c h n o l o g y. L a t e r, his legal career in
Mr. Putin shared with the then President 1968 as an
Dr. A.P.J. Abdul Kalam and Prime Minister advocate, Justice
Dr. Manmohan Singh the majestic podium Balakrishnan
at the India Gate as the Chief Guest pleaded both
during the 57th Republic Day celebrations criminal and civil
held in New Delhi on January 26, 2007. cases in the
Ernakulam court.
Two joint statements were issued and
He was appointed
eight accords signed by the two sides,
munsif in the
including one on cooperation on sharing
Kerala Judicial
of data from Russia’s Global Navigation
Services in 1973. He later resigned and
Satellite System (GLONASS) and jointly
resumed practice in the Kerala High
l a u n c h a ‘ YO U T H SAT ’. T h e y h o p e t o
Court. In 1985, he was appointed judge
restore this system through joint efforts
of the Kerala High Court, and in 1997
and organise its transition to new
was transferred to the Gujarat High
GLONASS-M and GLONASS-K space
Court. He became Chief Justice of the
devices. Russia intends to increase (with
Gujarat High Court in 1998, and in 1999,
the participation of India) the grouping
he assumed charge as the Chief Justice
of GLONASS system to 18 satellites in
of the Madras High Court. On June 8,
2007. The launch of these satellites will
2000, he was elevated to the Supreme
be on board on both Russian and Indian
Court.
space boosters.
Areas in which the Russian side
Pravasi Bharatiya Divas 2007
showed deep interest in co-operating The Fifth Pravasi Bharatiya Divas
include telecommunications, shipbuilding, ended with the conferment of the
and high technology including outer Pravasi Samman Awards to some
space. In the field of space, both the outstanding people of Indian origin
countries have agreed to jointly develop associated with different fields, by the
and exploit the Russian global navigation then President Dr. A.P.J. Abdul Kalam
satellite system, GLONASS. at Vigyan Bhavan in New Delhi on
January 9, 2 0 0 7. In all, 15
distinguished personalities received
the awards for their stellar
contributions to various fields.

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Earl i e r, Prime Minister Dr. Manmohan
Singh along with Minister of Overseas
Indian Affairs Mr. Vayalar Ravi, Deputy
P r i m e M i n i s t e r o f S i n g a p o r e M r. S .
Jayakumar and Delhi Chief Minister
Ms. Sheila Dikshit lit the lamp to mark
the inauguration of the fifth Pravasi
Bharatiya Divas in New Delhi on
January 7, 2007. Speaking at the annual
congregation of the Indian diaspora,
Dr. Singh said India was happy that the
US had adopted a legislation which would
enable it to cooperate in the field of
civil nuclear energy. Calling the US law
on civil nuclear energy an important step
forward in bilateral ties, he thanked the
Indian-American community for their
significant role in highlighting the
importance of this initiative in the United
States and elsewhere.




The awardees included Gopal Raju
(USA); Lord Diljit Rana, MBE and member
of the House of Lords (UK); Dave
Sukhdip Singh Hayer (Canada); Dr. M.
Anirudhan (USA); Billy Nair (South
Africa); Pheroze Nowrojee (Kenya);
N i r m a l K . S i n h a ( U S A ) ; D r. K . R .
Somasundram (Malaysia); Kenneth
Benjamin (Jamaica); Sibabrata Roy
(Germany); Syed M. Salahuddin (UAE);
D r. B . R . S h e t t y ( A b u D h a b i ) ; M o t i
Tikaram (Fiji); Abdul Magid Abdool Karim
Vakil (Portugal); and Dr. P. Jayaraman
(USA).

Pearls of wisdom

“The great composer does not set to work because he is inspired, but becomes inspired
because he is working. Beethoven, Wagner, Bach and Mozart settled down day after day to
the job in hand with as much regularity as an accountant settles down each day to his
figures. They didn't waste time waiting for inspiration.”
– ERNEST NEWMAN

“The darkest hour has only sixty minutes.”

– MORRIS MANDEL

“The roots of true achievement lie in the will to become the best that you can become.”
– HAROLD TAYLOR

“The greatest part of our happiness depends on our dispositions, not our circumstances.”
– MARTHA WASHINGTON

“Don't be afraid to give your best to what seemingly are small jobs. Every time you
conquer one it makes you that much stronger. If you do the little jobs well, the big ones
will tend to take care of themselves.”
– DALE CARNEGIE
“Simplicity is the ultimate sophistication.”
– LEONARDO DAVINCI

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 UPDATES 2007-08
INTERNATIONAL

Kirchner – Argentina’s First
Elected Woman President
In a rare power
handover between
spouses, Ms.
Cristina Fernandez
d e K i r c h n e r, t h e
wife of the
outgoing Argentina
President M r.
Nestor Kirchner and
a centre-left
Ms. C. F. Kirchner
s e n a t o r, became
the country's first popularly elected
woman President in Buenos Aires
( A r g e n t i n a ) o n O c t o b e r 2 8 , 2 0 0 7.
According to experts, her win was
primarily based on the economic boom
and the popularity of her husband.
M s . K i r c h n e r, a t h r e e - t e r m s e n a t o r,
captured 45 percent of the vote,
outpacing another woman runner-up,
independent candidate Ms. Elisa Carrio,
by more than 22 percentage points. In
her victory speech, she defended
President M r. N e s t o r
controversial handling of inflation and
the nation’s consumer price index. She
promised to put a priority on creating
jobs, boosting exports and bettering
health care and education.

North Korea Agrees
Disable Main Reactor
North Korea has agreed to declare all
its nuclear programmes and disable its
main atomic reactor by the end of 2007
under the US supervision, according to
a six-nation agreement released on
October 3, 2007. The deal – the second
phase of a long-running process aimed
at ending Pyongyang’s atomic weapons
drive – was immediately welcomed by
the US President, Mr. George W. Bush,
as well as by Japan and South Korea.
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North Korea “agreed to disable all its
existing nuclear facilities” as the next
step in a landmark agreement reached
by the six parties in February, 2007,
according to a copy of the agreement
text released by China, host of the
talks. The four-day discussions ended
in Beijing on September 30, 2007. As
part of the second phase, North Korea
will disable its 5-MW plutonium producing
reactor and two other key facilities at
Yongbyon by December 31, 2007.
The facilities were described by
Mr. Bush as the “core” of North Korea’s
nuclear weapons programme, according
to a US government statement released
in Washington.
Earlier, Washington had accused North
Korea of running a secret programme
to develop highly enriched uranium. It
is worth mentioning in this regard that
highly enriched uranium and plutonium
could be used to make nuclear
w e a p o n s . H o w e v e r, t h e r e w a s n o
mention of uranium in the statement.
K i r c h n e r ’s
In return for pushing ahead with
disarmament, the five other parties to
the talks would provide North Korea with
another 9,00,000 tonnes of heavy fuel
oil or its equivalent in aid, the pact said.
Pyongyang received 1,00,000 tonnes of
To fuel from South Korea and China after it
s h u t d o w n Yo n g b y o n , a n d a l l o w e d
inspectors from the UN atomic watchdog
back into the country.
The statement said the US agreed to
work to improve bilateral relations with
North Korea, “moving towards a full
diplomatic relationship.”
Washington also committed itself to
working towards removing Pyongyang
from its list of state sponsors of terrorism
but only if the country continued pushing
ahead with disarmament. The talks,
IC : PTpnsgk01
which began in 2003, failed to stop North
Korea from testing an atomic bomb in
October, 2006.
Envoys from six nations struck an
agreement on the next phase of ending
North Korea’s nuclear weapons
programme, which the United States
hailed as comprehensive and detailed.
“The joint statement was very
c o m p r e h e n s i v e ,” t h e U S n e g o t i a t o r,
Mr. Christopher Hill told media-persons
referring to the agreement outlined by
China, which hosted the talks. “China
put together a very nice joint statement.
There are lots of details. It is very
useful,” Mr. Hill added.
One key feature of the statement was
a reference to disabling North Korea’s
main nuclear facility at Yongbyon and
two other sites by the end of 2007.
They were simply shut down in July
2007, but disablement is regarded as a
major step further because once that is
done, the North Korea would require
months to get them operational again in
order to resume any weapons
programme.

South Korea And North Korea
Reach Historic Accord
Crossing “the forbidden line” in a quest
for peace and reconciliation, South
Korean President Mr. Roh Moo-hyun on
O c t o b e r 2 , 2 0 0 7, w a l k e d i n t o N o r t h
Korea from across the nominally
demilitarised zone that has kept the two
ethnic neighbours apart for over 50
years.
S h o r t l y a f t e r w a r d s , M r. R o h w a s
unexpectedly greeted by his potential
summit partner and North Korean leader
M r. K i m J o n g - i l . M r. K i m h a d e a r l i e r
deputed North Korea’s titular Head of
State Mr. Kim Yong-nam to receive the
visiting dignitary on his arrival.
The first-ever inter-Korean summit took
place in Pyongyang just over seven
years ago. Known as the summit of two
Kims under the “sunshine policy” of the
then South Korean leader, Mr. Kim Dae-
IC : PTpnsgk01
jung, that meeting had broken the cast-
iron mould of the Cold War-era hostilities
between the two sides.
During their summit talks on October 4,
2007, the two leaders pledged to seek
help from China and the United States
in formally declaring the 1950-53 Korean
War over at the earliest. Categorically
reaffirming their resolve to adopt the
policy of non-aggression against each
other, Mr. Kim and Mr. Roh also called
for the resumption of regular freight
train services between the two countries.
They also agreed to send a joint cheering
squad to the 2008 Beijing Olympic Games
by train besides operating direct tour
flights between Seoul and Mount Paektu
on the North Korean border with China.
The two leaders, in their joint
statement, said that North Korea and
South Korea would hold a meeting of
defence ministers in November, 2007 to
discuss ways to prevent armed clashes.
Also, the Prime Ministers from the two
sides would meet in Seoul to discuss the
implementation of the agreement. As per
the historic accord, leaders of the two
states will meet frequently. Moreover,
the North and South will establish a
special district in the North Korean west-
coast port city of Haeju and set up a
regular maritime transport service with
the South and a joint fishing ground.
The two states will repair the highway
joining the North Korean capital and
Kaesong and refurbish a railway line on
the North’s border with China.

Seasoned Fukuda Takes Over As
Japan’s Premier
Mr. Yasuo Fukuda, the President of the
Liberal Democratic Party of Japan, was
appointed the 91st Prime Minister of the
c o u n t r y o n S e p t e m b e r 2 5 , 2 0 0 7,
succeeding Mr. Shinzo Abe who resigned
e a r l i e r. M r. F u k u d a r e t a i n e d h i s
predecessor’s Finance and Economy
Ministers, leaving analysts cautious
about prospects for further free-market
reforms.
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Mr. Fukuda, who
has vowed to
c o n t i n u e
economic reform
while easing the
pain of rural
areas, retained
Finance Minister Fukushiro Nukaga and
Economic and Fiscal Policy Minister Hiroko
Ota along with Akira Amari, the Trade
Minister. Both have pledged to stay true
to free-market reforms, but many
analysts doubt whether the new
government has the appetite to push
through painful public spending cuts
after a recent Upper House election
defeat.
The Opposition, which seized one House
of Parliament in July 2007 elections,
argues that reforms initiated under Mr.
Abe’s predecessor, Mr. Junichiro Koizumi,
have hurt the social safety net and
regional economies.
Mr. Koizumi set out to slash public works
spending and break up the post office
with its $3 trillion in assets, which were
used to bankroll often wasteful but
politically popular public works.
Fo llowing the resignation of Mr. Abe,
Mr. Fukuda and Mr. Taro Aso were the
two Liberal Democratic Party leaders
who contested in the election for the
Prime Minister’s post, held on September
23, 2007. In the election, Mr. Fukuda
received 338 votes, about 100 more
than necessary for a majority in the
House of Representatives whereas
M r. A s o c o u l d g e t 1 9 7 v o t e s o n l y.
Although Mr. Fukuda could not have a
majority of votes in the House of
Councillors (Upper House), the result
went in his favour by Article 67 of the
Constitution of Japan.

Arctic Ice Melts To Its Lowest
Level Ever
According to the US scientists, the sea
ice of the Arctic shrank to its lowest-
ever level in September 2007, shattering
the previous record, set two years ago,
by an enormous amount.
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In what could be seen as one of the
most alarming signs yet of accelerating
global warming, the summer melt-back
exceeded the September 2005 low point
by 22 percent in an area of 1.2 million
square kilometres in more than 3,85,000
square miles. This represented an area
five times the size of the UK. The colossal
shrinkage is immediately and dramatically
visible on satellite images of the two low
points. Furthermore, the difference
between 2005 and 2007 is more than
double the difference between 2005 and
2002, the previous lowest year.
“It’s the biggest drop from a previous
record that we’ve ever had and it’s really
quite astounding,” said Mr. Walt Meier, a
research scientist at the US National
Snow and Ice Data Center (NSIDC) in
Colorado. “That’s a dramatic change in
one year. Certainly we’ve been on a
downward trend for the last 30 years or
so, but this is really accelerating the
trend,” he added.
The ice cover of the Arctic Ocean shrinks
in the summer and regrows in the autumn
a n d w i n t e r, i n a r e g u l a r c y c l e . B y
September 16, 2007, it had shrunk to
1.6 million sq. miles, the NSIDC said.
This compares with the 2005 low point
of 2.07 million sq. miles. The contrast is
even greater with the long-term average
over the past 20 years or so. Between
1979 (when regular satellite monitoring
had just started) and 2000, the long-
term average minimum was 2.6 million
sq. miles.
The remarkable increase in the rate of
melting in the past two or three years
has led to a revision of estimates of
when the Arctic might be wholly ice free
in summer. Early predictions by the UN’s
Intergovernmental Panel on Climate
Change (IPCC), based on computer
models of global warming, suggested
that as climate change advances, this
might happen by 2080. But now
scientists are increasingly thinking the
models have seriously underestimated
the rate, and it may happen much
earlier.
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According to Mr. Mark Serreze, another
senior NSIDC researcher, it might take
only 25 years or less. “If we were talking
even two or three years ago, I’d have
said the transition to an ice-free Arctic
summer might be between 2070 and
2100,” he said. “But we’re starting to
see that is rather optimistic, and an
educated guess right now would be 2030.
It’s something that could be within our
lifetime. We’re on a strong spiral of
decline; some would say a death spiral.
I wouldn’t go that far but we’re certainly
on a fast track. We know there is a
natural variability, but the magnitude of
change is too great to be caused by
natural variability alone,” he added.
What the melting of the Arctic ice will do
is spell doom for much of the wildlife of
the region, led by polar bears, which
need the ice to hunt seals. Polar bears
were officially notified as a threatened
species in 2006 by being included in the
Red List of the World Conservation
Union.

Russia Tests ‘Father Of All
Bombs’
Russia has tested the “Father of all
bombs,” a conventional air-deliv e red
explosive that experts say can only be
compared with a nuclear weapon in terms
of its destructive power. The device is a
fuel-air explosive, commonly known as a
vacuum bomb, that spreads a high
incendiary vapour cloud over a wide area
and then ignites it, creating an ultra-
sonic shock wave and searing fireball
that destroys everything in its wake.
A Russian state TV showed the test site,
which “looked like a lunar landscape”,
including the shattered remains of a
town, following the blast at an
undisclosed location recently. ‘The results
of tests of the aviation explosive device
have shown that it is comparable with
nuclear weapons in its efficiency and
potential,” according to Armed Forces
D e p u ty C h i e f o f S t a f f M r. A l e x a n d e r
R u k s h i n . “ B u t ”, h e a d d e d , “ i t i s
environment friendly, compar ed to a
nuclear bomb, and it will enable us to
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ensure national security and at the same
time stand up to international terrorism
in any part of the globe and in any
situation.”
In 2003, the US tested a vacuum device,
officially called the Massive Ordnance Air
Blast Weapon, which was quickly dubbed
the “Mother of All Bombs” by American
commentators. Russian experts are
referring to the allegedly mightier
Russian incarnation as the “Father” –
the Russians claim their new weapon is
much smaller than the US vacuum bomb,
but four times more powerful.

Bush And Hu Reaffirm Their
Commitment To Strengthening
Bilateral Ties
The US
P r e s i d e n t
M r. G e o rge W.
Bush and the
C h i n e s e
P r e s i d e n t
M r. H u J i n t a o
in a face-to-
face meeting on the sidelines of an Asia-
Pacific Economic Cooperation (APEC)
Summit in Sydney on September 6, 2007,
discussed issues ranging from climate
change and Iran to recall of China-made
food and products and individual freedom
in China. Both the leaders affirmed their
strong commitment to build relations of
bilateral cooperation between their
countries. Each emphasised on the
significance of the multidimensional facts
o f t h e s e t i e s . M r. H u s a i d h e w a s
committed to further advance our
constructive and cooperative relations.
Describing the meeting as a constructive
and cordial conversation, Mr. Bush said
that he was very comfortable in his
discussions with President Mr. Hu. He
said that they exchanged ideas on a lot
of interests that they wanted to work
together on. He cited in particular their
desire to work together on climate
change.
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The Chinese President called the
discussion “candid and friendly”. As a
response to Mr. Bush’s enthusiasm about
climate change, he said that the issue
of climate change born on the welfare
of whole humanity and the sustainable
development of the whole world. He
suggested that the solution to the
problem was in development of an
appropriate mechanism through stronger
international cooperation.
Mr. Hu further added that the United
Nations Framework should remain the
main channel for the international efforts
to address climate change. Mr. Bush also
said that Iran, North Korea, Sudan, the
US-China economic and trade ties and
currency and exchange rates in that
bilateral context were discussed with Mr.
Hu.
Mr. Bush said that he shared with Mr.
Hu the concerns of the US about religious
freedom and religious liberty in China.
He also pointed out the recent debate
about the defective China-made products
and food subject to recalls. “Mr. Hu was
quite articulate about product safety and
I appreciated his comments”, said Mr.
Bush.
Mr. Bush also expressed his enthusiasm
about accepting Mr. Hu’s invitation to
attend the 2008 Olympics in China.
However, no public comment was made
about China’s military profile and its
recent anti-satellite test.
Noting that the bilateral meeting was
candid, friendly, sincere and cordial, Mr.
Hu said, “We both expressed a desire to
work for the growth of business and
commercial sides” of the equation through
dialogue and consultations. He
appreciated “the consistent US position
of opposing any changes to the status
quo in the situation across the Taiwan
Straits.”

SCO Meets In Bishkek
A regular meeting of the Council of Heads
of Members of the Shanghai Cooperation
Organization (SCO) was held on August
16, 2007 in Bishkek, Kyrgyzstan. The
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meeting was attended by Mr. Nursultan
Abishevich Nazarbayev, President of the
Republic of Kazakhstan, Mr. Hu Jintao,
President of the People’s Republic of
China, Mr. Kurmanbek Bakiev, President
o f t h e Ky r g y z Re p u b l i c , M r. V l a d i m i r
Putin, President of the Russian
Fe d e ra t i o n , M r. E m o m a li R a k h m o n o v,
President of the Republic of Tajikistan
and Mr. Islam Karimov, President of the
Republic of Uzbekistan. Mr. Nurgaliev
Bolat Kabdylkhamitovich, Secretary-
General of the SCO and Mr. Myrzakan
S u b a n o v, D i r e c t o r o f t h e E x e c u t i v e
Committee of the SCO Regional Anti-
terrorist Structure (RATS) participated
in the meeting.
The heads of
the SCO
states signed
the Tr e a t y
following
consensus
over the
terms of the
agreement at the commemorative summit
of the Council of SCO Heads of State
held in Shanghai on June 15, 2006. It
aimed to develop long-term friendship
and cooperation. They signed the
Bishkek Declaration and adopted the
Action Plan of the Member States of the
Shanghai Cooperation Organization which
sought to ensure International
Information Security for the
implementation of the Statement of
Heads of SCO Member States on
International Information Security of
June 15, 2006. Representatives of the
SCO members also signed the Agreement
on Inter-governmental Cultural
Cooperation among Shanghai
Cooperation Organization Member
States.
They also reviewed the progress made
by the SCO since the previous meeting
of the Council of Heads of State,
reached agreement on future steps to
promote all-round cooperation within the
SCO framework, and had an in-depth
exchange of views on the current
international and regional situation. It
IC : PTpnsgk01
was felt that there is a growing need
for closer cooperation among parliaments
and supreme courts of the member
states and for information sharing in the
legislative field to improve the legal
systems of the SCO members.
The heads of state accepted the
invitation of President Mr. Vladimir Putin
of the Russian Federation to observe
the Peace Mission 2007, joint counter-
terrorism military exercise. The armed
forces of the SCO countries conducted
on August 17, 2007. In fact, this was
the largest military exercise with China
and other Central Asian states in
Russia’s Ural Mountains. The meeting of
the Council of Heads of SCO Members
for 2009 will be held in Yekaterinburg,
the Russian Federation.
India is a dialogue partner of the SCO.
M r. D e o ra r e p re s e n t e d In d i a a t t h e
summit.

Historic Initiatives To End West
Asia Crisis
Giving a new
positive turn to
the ongoing
efforts for
restoring peace in
the troubled
West Asia region and finding an enduring
solution to the issue of the creation of
Palestinian state, Israeli Prime Minister
Mr. Ehud Olmert paid a historic visit to
the West Bank town of Jericho and met
President Mr. Mahmoud Abbas on August
6, 2007. Mr. Olmert’s visit was the first
by a top Israeli leader to a Palestinian
town since the outbreak of fighting
between Israel and Palestine in 2000.
E a r l i e r, a d e l e g a t i o n fr o m t h e A rab
League made a historic visit to Israel on
July 25, 2007, to present its own Middle
East peace initiative. The foreign
ministers of Egypt and Jordan, the first
delegation comprising 22 members sent
to the Jewish state, formally presented
the Arab League’s proposal for peace
between Israel and Palestine in
Jerusalem. The proposal, originally
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presented in 2002 and rejected by the
Jewish state, extends an offer from all
Arab countries to recognize Israel in
exchange for an Israeli withdrawal from
land captured in the 1967 Middle East
W a r.
Currently, Egypt and Jordan are the only
two nations in the League that recognise
Israel. The Arab body refused to
recognise Israel after the creation of
the Jewish state in 1948 and suspended
Egypt in 1979 for a decade when it
became the first Arab state to make
peace. The Arab League endorsed the
plan again in March 2007 over concerns
about Iran’s growing influence. Arab
League’s initiative offers Israel’s normal
ties with all Arab states in return for a
full Israeli withdrawal from territory it
oc cupied in 1967, the cr eation of a
Palestinian state and a solution to the
Palestinian refugee problem.

Hong Kong Marks First Decade
Under Chinese Rule
Chinese President Mr. Hu Jintao reminded
the territory of Hong Kong that the
motherland comes first, as the city
embarked upon its second decade under
B e i j i n g ’s r u l e o n J u l y 1 , 2 0 0 7. “ O n e
country is a pre-requisite of two
systems,” he said at a ceremon y to
swear in Hong Kong Chief Executive
Mr. Donald Tsang and his cabinet for a
new five-year term. “One country means
that one
must uphold
the power
vested with
the central
government
and China’s
sovereignty,
unity and
security.”
People’s Liberation Army parachutists
performed stunt jumps, and took out a
grand parade. At midnight, Chinese
officials attended a Buddhist bell-chiming
ceremony along with chanting monks to
mark the countdown to midnight, the
moment Britain had handed back Hong
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Kong after 156 years as a colony, and
to bestow peace and prosperity on the
t e r r i t o r y. A t t h e s a m e t i m e , a c ro s s
Victoria H a r b o u r, p r o - d e m o c ra c y
lawmakers gave a stinging rebuke to
China’s rule on the balcony of the city’s
historic legislature.

Brown Is UK’s New Prime
Minister
Mr. Gordon Brown of the ruling Labour
Party became on June 27, 2007, the
52nd Prime Minister of UK and 11th Prime
Minister of the Queen’s reign, succeeding
Mr. Tony Blair as per an announcement
made by the lat ter earlier. Outgoing
Prime Minister Mr. Tony Blair, the longest-
serving Prime Minister of Labour Party in
m o d e r n h i s t o r y, a l s o r e s i g n e d h i s
Parliamentary seat. It brought to an end
a political career that spanned nearly a
quarter of a century but was eventually
marred by his decision to partner with
the US President Mr. George W. Bush in
the much talked-about invasion of Iraq
in 2003.
After being handed over the keys of 10
Downing Street, the new British Prime
Minister Mr. Gordon Brown, who served
as the Chancellor of Exchequer in Mr.
Blair’s Government since 1997, remarked,
“Let the work of change begin.” He said
his priorities were education, health and
restoring trust in politics and promised
to “try my utmost”. Mr. Brown promised
to lead a government of “all the talents”
and said his “mission” was to provide
“the best of chances for everyone”.
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Earlier, Mr. Blair was given an emotional
standing ovation by the MPs. He
admitted he had “never pretended to be
a great House of Commons man” but he
paid tribute to the “noble” work of the
MPs and – in his final words to
Parliament – said : “I wish everyone,
friend or foe, well and that is that, the
end.” As per an announcement made by
the “quartet” of the UN, America, EU
and Russia, Mr. Blair has been assigned
a new job as a peace envoy in the
Middle East.

Peres Elected Israeli President
Veteran statesman and Nobel laureate
Mr. Shimon Peres was elected President
of Israel on June 13, 2007, capping a
six-decade old political career in which
he has held every senior political
p o s it i o n . M r. Pe re s h a s b e e n e l e c t e d
ninth President of Israel at a time when
the office of the ceremonial head has
taken a severe battering in view of
charges of rape and sexual misconduct
against the outgoing President,
Mr. Moshe Katzav.
Speaking at the Knesset after the final
round of voting, a beaming Mr. Peres
thanked the lawmakers who supported
him and pledged to “give my all to serve
Israel.” Mr. Peres said he saw his new
role as a unifier of Israel’s fractured
society. “The President’s role is not to
deal with politics and partisanship, but
to represent what unites us in a strong
v o i c e ,” h e s a i d . “A P r e s i d e n t m u s t
represent the people’s desire to be a
united nation,” the elderly statesman
emphasised.
P r i m e M i n i s t e r M r. E h u d O l m e r t p a i d
tribute to his deputy saying that, “Israel
has been waiting hopefully for the
election of Mr. Peres as President.” The
83-year-old Nobel laureate won 86 votes
in a second round ballot after his two
rivals in the race threw their support to
him.
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Climate Protection Captures
Centrestage At The 33rd G8
Summit
Leaders of the member nations of G8,
the grouping of world’s eight most
industrialised countries, assembled for
the grouping’s 33rd annual summit at
Kempinski Grand Hotel in Heilingendamm
(Germany) from June 6 to June 8, 2007.
“Growth and Responsibility” was the
central theme of the G8 Summit and its
key focus was the framework conditions
for the global economy, involving the
largest emerging economies in the
system of global responsibility and
climate protection issues.
Heads of State and Government of G8
nations who attended the Summit
included President Mr. George W. Bush
of USA, President Mr. Vladimir Putin of
Russia, President Mr. Nicolas Sarkozy of
F r a n c e , P r i m e M i n i s t e r M r. S t e p h e n
Harper of Canada, Prime Minister
Mr. Romano Prodi of Italy, Prime Minister
Mr. Shinzo Abe of Japan and the then
Prime Minister Mr. Tony Blair of UK, apart
from Germany’s Chancellor Ms. Angela
Markel who hosted and chaired the
summit. Mr. Jose Manuel Durao Barroso,
President of the European Commission,
represented European Union at the
Summit. India, Brazil, Mexico, China and
South Africa, represented by Prime
Minister Dr. Manmohan Singh, President
Mr. Luiz Inacio Lula da Silva, President
Mr. Fel ipe Calder on, Pr esident Mr. Hu
Jintao and President Mr. Thabo Mbeki
respectively, attended the summit as G8
+ 5 participants.
One of the most significant developments
at the summit was the breakthrough on
climate protection achieved after the G8
leaders agreed on halving global CO 2
emissions by 2050. In a joint statement,
they said that this goal would be
achieved as part of a UN process
involving even the big emerging
economies. At the conclusive stage of
the Summit on June 8, 2007, the G8
leaders spelt out their strong interest in
“a stable, democratic and prosperous
IC : PTpnsgk01
Africa.” They pledged to lift Africa out
of poverty and agreed on a $60-billion
plan to fight diseases like AIDS,
tuberculosis and malaria. However, no
timeframe was set for the pledged aid.
The G8 leaders also agreed on a policy
agenda to promote a smooth adjustment
of global imbalances in the context of
sustained robust economic growth. They
unanimously recognised the importance
of initiatives like cross-border direct
investment in shaping the world’s
economy and resolved to strengthen
open and transparent investment
regimes. In a joint declaration on non-
proliferation, they vowed to restrict the
access of countries, including NPT (Non-
proliferation Treaty) signatories, to civil
nuclear technology. But the declaration
made no reference to the nuclear
weapons states’ treaty obligation to get
rid of their arsenals.

Nicolas Sarkozy Becomes The
New French President
Conservative leader Mr. Nicolas Sarkozy
was elected on May 6, 2007, the next
President of France, succeeding the
outgoing President Mr. Jacques Chirac.
Mr. Sarkozy secured 53 percent votes,
beating his Socialist rival, Ms. Segolene
Royal, by 6 percentage points. His
election marks the culmination of a long
political career during which he served
in a number of key ministerial capacities.
Presently, he is the President of the
ruling Conservative party, the UMP.
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B o r n i n F r a n c e , M r. S a r k o z y i s t h e
progeny of Hungarian-Greek parents.
With his victory in the French Presidential
election, he is set to become the sixth
President of the current Fifth Republic
of France which came into being in 1958
with the election of General Charles de
Gaulle by direct universal suffrage.
Mr. Sarkozy has been the mayor of the
wealthy Parisian suburb of Neuilly-sur-
Seine and has held some senior Cabinet
posts, including those of Finance and
the Interior. Approximately 44.5 million
voters of France took part in the French
Presidential election, which, experts
believe, may have some crucial
underpinnings not only for France itself
but also for the EU’s course of action
and agenda of expansion.

Chinese Premier Wen Jiabao’s
Visit To Japan
Chinese Premier Mr. Wen Jiabao paid a
historic three-day State visit to Japan
on April 11, 2007. It was the first such
visit by a Chinese premier in seven
years. The purpose of the visit was to
bring about a thaw in the bilateral relations
of the two regional neighbours. During his
stay in Japan, Mr. Jiabao made one point
very clear at the beginning of his speech :
“The past, he believes, is less important
than the present and the future. When I
came to Japan 15 years ago, it was also
April and the cherry blossoms were in full
bloom.”
Past Chinese leaders have visited Japan
in different ways. Thirty years ago,
Deng Xioaping rode the Shinkansen bullet
train and praised Japan’s scientific and
technological advances, giving rise to a
“Deng mania.” In contrast, Mr. Jiang
Zemin scolded the country for its
historical wrongs and decisively worsened
r e l a t i o n s . M r. We n f o l l o w e d D e n g ’ s
example. Wherever he went, he
emphasized the idea of friendship.
Former Japanese Prime Minister
M r. Ya s u h i ro N a k a s o n e wa s p l e a s e d .
“This is the first time a Chinese leader
has made such an estimate of Japan,”
he said.
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French TGV Train’s New Speed
Record On Rails
A French TGV (“Train a Grande Vitesse”,
which means ‘high-speed train’ in
French) train made a new world speed
record on April 3, 2007, when it hurtled
down a newly-built track in the country’s
eastern Champagne region at a dizzying
speed of 574.8 kmph. The special train,
which has been christened V150, is an
enhanced version of trains that will run
on the Paris-Strasbourg line from June
2007. Prior to achieving the outstanding
feat, the train had been preparing for
the record run for weeks. A number of
journalists and other guests boarded
the train on its record run.
Earlier, Engineer Alstom, state railways
group SNCF and track operator RFF had
teamed up to demonstrate French
engineering excellence and boost export
prospects for French trains. It merits
mentioning that the absolute speed
record for trains was set by a “Maglev”
train in Japan, at 581 kmph in 2003.
However, those trains do not run on
rails but glide on a magnetic field. The
previous speed record for a train running
on rails was 515.3 kmph, set in France
in 1990.
The V150 is made up of two normal cars
that will run on the eastern TGV track,
three double-decker carriages and three
sets of motorised wheels. The train can
develop over 25,000 horsepower, twice
that of a conventional TGV. The record
was set between Preny near Metz in the
east of France, and Bezannes near
Reims. The event run was broadcast live
on television in France and neighbouring
Germany.
Following the inaugural TGV service
between Paris and Lyon in 1981, the
TGV network, centred on Paris, has
expanded to connect cities across France
and in adjacent countries. TGVs link
France with Belgium, Germany and the
Netherlands through the Thalys network,
while the Eurostar network links France
and Belgium with the UK.
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Maoists Join The New Interim
Government Of Nepal
In a major boost to the ongoing peace
process in Nepal, prominent Maoist
leaders of the Communist Party of Nepal
(CPN(M)) joined the Girija Prasad Koirala-
led SPA (Seven Party Alliance)
G o v e r n m e n t o n A p r i l 1 , 2 0 0 7, t h u s
forming an interim set-up as per a
landmark agreement between the SPA
and the CPN(M). In keeping with the
a g re e m e n t , P r i m e M i n i s t e r M r. G i r i j a
Prasad Koirala took a fresh oath as the
interim government’s head and
administered the oath of office to 22
Ministers. Earlier, Mr. Koirala resigned
from his post and was reelected
unanimously by the interim legislature.
Prior to the swearing-in of Mr. Koirala
and the Ministers of the interim
Government, a meeting of the top
leaders of SPA and CPN(M) was
convened in Kathmandu, which
unanimously decided to hold the
Constituent Assembly elections on June
20, 2007. It decided to make necessary
amendments in the interim Constitution
to give powers to the interim legislature
and abolish the institution of monarchy
b y a t w o - t h i r d m a j o r i t y. I n a j o i n t
statement issued after the meeting, it
was said that the legislature would
immediately go for an overthrow of the
monarchy if the King indulged in any
secret plot to impede the Constituent
Assembly elections.

Chinese President’s State Visit
To Russia
Chinese President Mr. Hu Jintao paid a
three-day state visit (March 26-28,
2007) and held talks with his Russian
counterpart Mr. Vladimir Putin. At the end
of their summit level talks, the two
leaders signed a joint statement on ways
to further develop the Sino-Russian
strategic partnership of cooperation.
They also took part in the opening
ceremony of the “Year of China in Russia”
and a Chinese National Exhibition.
Chinese and Russian enterprises signed
21 agreements and contracts worth 4.3
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billion US dollars after the opening
ceremony of China’s national exhibition.
Russian First Deputy Prime Minister
M r. D m i t r y M e d v e d e v, C h i n e s e V i c e
Premier Mr. Wu Yi and Russian Economic
D e v e l o p m e n t a n d Tr a d e M i n i s t e r
Mr. German Gref took part in the signing
ceremony.
Terming Mr. Hu Jintao’s visit to Russia
very successful and of “significant
i m p o r t a n c e ,” M r. K o n s t a n t i n V n u k o v,
Director of the first Asian department at
the Russian Foreign Ministry, said, “The
‘Year of China in Russia’ as well as the
‘Year of Russia in China’ marked in 2006,
are both comprehensive and great
events which covered various fields
ranging from politics, economy to social
and cultural aspects.” “Russia has never
held such a large-scale event with any
other country,” said the official.
The four-day exhibition, which started
on March 27, 2007, and was sponsored
by the Ministry of Commerce of China,
covered over 30 industries from energy
to home appliances. More than 15,000
products were exhibited in an area of
20,000 square metres at the Crocus-
expo centre. The exhibition attracted
more than 86,000 Russian visitors and
the trade volume of agreements signed
on the sideline of the event reached 4.9
billion US dollars, according to figures
from the Chinese Ministry of Commerce.

Justice Rana Bhagwandas
Becomes Pakistan’s First Hindu
Chief Justice
Justice Rana Bhagwandas was sworn in
at the Supreme Court’s Karachi registry
on March 24, 2007, as the first Hindu
Chief Justice of Pakistan by Justice
Javed Iqbal, who functioned as the
interim acting Chief Justice after the
removal of the Chief Justice Iftikhar
Chaudhry on March 9, 2007. Speaking
after the swearing-in ceremony, Justice
Bhagwandas said that the judiciary would
not disappoint the people and that they
w o u l d s o o n h e a r “ g o o d n e w s ”. H e
assured the people of Pakistan that the
judiciary under him would proceed
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without any bias in the matter of the
Presidential reference against the
dismissed Chief Justice Iftikhar
M u h a m m a d C h a u d h r y. H e s a i d t h e
Supreme Judicial Council, the five-judge
panel inquiring into the reference, would
s o o n d e c i d e w h e t h e r M r. C h a u d h r y
should be given an open hearing as he
has demanded, or if it should continue
to hear the case in camera.
Justice Bhagwandas said the inquiry
would be conducted speedily, and that
he would do everything to maintain the
independence and dignity of the judiciary.
He appealed to the media to avoid
comments on the reference against
M r. C h a u d h r y a s i t w a s s u b j u d i c e .
Meanwhile, the Sindh and Karachi Bar
Associations continued protests over the
removal of the Chief Justice as Justice
Bhagwandas was being sworn in. The two
associations boycotted the ceremony.

The 12th ASEAN Summit
The 12th ASEAN (Association of South
East Asian Nations) Summit officially
opened in Cebu (The Philippines) on
J a n u a r y 1 3 , 2 0 0 7, w i t h t h e f u l l
participation of Heads of State from the
10 member countries, namely Brunei,
Cambodia, Indonesia, Laos, Malaysia,
Myanmar, the Phi lippines, Singapore ,
Thailand and Vietnam. Besides them, the
Heads of some Dialogue Partners,
including India, China, Japan and
Australia were also invited to take part
in the summit. The Indian delegation was
headed by Prime Minister Dr. Manmohan
Singh. The theme of 2007 summit was
“One Sharing And Caring Community.”
After discussions and deliberations on
a diverse range of issues, leaders of
ASEAN signed the Cebu Declaration
To w a rd s O n e C a r i n g A n d S h a r i n g
Community and committed to promote a
socially prosperous community within
the region. The Cebu Declaration cited
the need to reduce poverty, protect the
rights of children and women, improve
education and cherish the environment
on their way to the economic
integration by 2015. The document
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reaffirmed the ASEAN countries’
commitment to realise the Millennium
Development Goals (MDGs) of the United
Nations as part of their efforts of socio-
cultural community building. The Heads
of 10 countries also agreed to rely on
the ASEAN Sectoral Ministerial bodies to
achieve the goals of their collective
social welfare with clear timelines.
Leaders from the 10-member Association
considered moving the bloc into a more
“rules-based” community at the
concluding session of the summit on
J a n u a r y 1 5 , 2 0 0 7. A S E A N l e a d e r s
adopted the Convention on Counter
Terrorism, a historic pact that enables
member countries’ anti-terror units to
track movements of suspicious money or
people throughout the region, and to
allow for the extradition of terror
suspects. The convention is the first and
a legally binding one on anti-terrorism.

New UN Chief To Focus On
Regional Conflicts
Mr. Ban Ki-moon, former Foreign Minister
and well-known diplomat of South Korea,
took over as United Nations Secretary-
G e n e ra l o n J a n u a r y 1 , 2 0 0 7, f a c i n g
numerous crises across the globe as well
as the challenging task of reforming the
global organisation itself. The 62-year-old
diplomat’s handling of the reform, launched
in 2005 by his predecessor Mr. Kofi Annan,
will be closely watched by UN members,
notably the United States, which strongly
backed his candidacy.
Aware of the huge task ahead of him,
Mr. Ban said at a news conference on
his first day at one of the world’s most
prestigious offices that he wanted to
“restore trust” in the United Nations. In
subsequent interviews he promised to
devote most of his attention to solving
the immediate problem of regional
conflicts around the world. He said he
wanted to be a “harmoniser” and a
“bridgebuilder”, pointing out that the
conflict in West Asia, the Lebanese
situation and the crisis in Darfur (Sudan)
would be among his priorities.
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 EVENTS 2007-08
NATIONAL
JANUARY 2007
1: According to the NKC (National
Knowledge Commission), India
will need 1,500 universities to attain
a gross domestic enrolment ratio of
at least 15 percent by 2015.
3 : Prime Minister Dr. Manmohan Singh
inaugurates the 94th Indian
Science Congress at
Chidambaram (Tamil Nadu).
6: NIN (National Institute of
Nutrition) announces that it will
conduct first study on the links between
HIV/AIDS and nutrition in India.
9: The Centre decides to declare 2007
as ‘Water Year’.
14 : Justice K.G. Balakrishnan is sworn
in as the 37th Chief Justice of India.
16 : Tata Consultancy Services (TCS)
announces that it has become the
first Indian IT company to register $1
billion in revenues in a single quarter.
26 : Adventurer Ajeet Bajaj unfurls the
tri-colour at the South Pole as India
celebrates Republic Day.
27 : The French Government confers the
Legion d’honneur (Legion of
Honour) on Mr. Amitabh Bachchan.
31 : Nobel laureate Desmond Tutu
receives the Gandhi Peace Prize.
FEBRUARY 2007
1: The Centre bans the export of milk
powder till September 2007.
4 : India successfully test-fires
BrahMos supersonic cruise missile.
6 : The Railways announces that the
advance reservation period would
be extended from 60 days to 90
days on an experimental basis.
11 : The Delhi Metro Rail Corporation
achieves the distinction to get a
berth in the elite Nova
Benchmarking Group (NBG).
13 : R e s e r v e B a n k o f I n d i a ( R B I )
announces the hike of Cash
Reserve Ratio (CRR).
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14 : The Supreme Court disqualifies 13
MLAs of UP Assembly who belonged
to the Bahujan Samaj Party.
21 : A Group of Ministers endorses the
Civil Aviation Ministry’s proposal to
merge the two state-run carriers –
Air India and Indian.
26 : Railway Minister Mr. Lalu Prasad
presents the Railway Budget for
2007-08 in Parliament.
27 : The Finance Minister tables the
Economic Survey 2006-07 in
Parliament prescribing steps to
check inflation and sustain high
economic growth.
MARCH 2007
1: The Union Cabinet clears the
merger of the state-owned
carriers–Air India and Indian.
5: Pilotless target aircraft Lakshya
is test-flown.
8: Major General (Retd.) Bhuwan
Chandra Khanduri takes over as
Chief Minister of Uttarakhand.
19 : The Central Government sets up the
National Mission on
Monuments and Antiquities
with a term of five years.
21 : According to a report of the
National Sample Survey, the
poverty in the country declines to
21.8 percent in 2004-05 from 26.1
percent in 1999-2000.
22 : The prestigious Jawaharlal Nehru
Award for International
Understanding-2005 is conferred on
Nobel laureate Wangari Muta
Maathai of Kenya.
31 : Iran’s application for observer status
in the South Asian Association
for Regional Cooperation
(SAARC) is unanimously approved by
the SAARC Foreign Secretaries at
their Standing Committee meeting in
New Delhi.
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 APRIL 2007
3 : Inaugurating the 14th SAARC
Summit in New Delhi, Prime
Minister Dr. Manmohan Singh says
that India will allow “zero-duty
access” for goods from Bangladesh,
Afghanistan, Nepal, Maldives and
Bhutan by the end of 2007.
8 : Sarah Jane Dias of Mumbai is
crowned ‘Miss India World’ while
Delhi girl Puja Gupta and New
Zealander of Indian origin Puja
Chitgopekar are crowned ‘Miss
India Universe’ and ‘Miss India
Earth’, respectively.
9 : Congress leader Mr. Dorjee
Khandu is sworn in as the new
Chief Minister of Arunachal Pradesh.
12 : Nuclear capable long-range ballistic
m i s s i l e Agni-III i s s u c c e s s f u l l y
test-fired.
27 : The Securities and Exchange Board
of India (SEBI) makes Permanent
Account Number the sole
identification number for all
participants in the securities markets
from July 2, 2007.
30 : B o l l y w o o d l e g e n d D i l i p K u m a r i s
conferred the Phalke Ratna
Award .
MAY 2007
1 : Mr. Kuldeep Goyal is appointed as
the Director (Planning and New
Services) of the public sector Bharat
Sanchar Nigam Limited (BSNL).
6 : The world’s largest passenger
aircraft Airbus A380 lands for the
first time in India.
10 : T h e h i s t o r i c C e n t r a l H a l l o f
Parliament comes alive as it
witnessed the commemoration of the
first War of Independence of 1857.
11 : BSP supremo Ms. Mayawati wins
the UP Assembly elections with
majority.
23 : Hon’ble President Dr. A.P.J. Abdul
Kalam presents the National
Communal Harmony Award to
octogenarian social activist
Mr. Rabindra Nath Upadhyay.
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27 : Reliance Industries Ltd. Chairman
Mr. Mukesh Ambani becomes the
first trillionaire in the country.
28 : M r . A . R . L a k s h m a n a n , r e t i r e d
judge of the Supreme Court,
assumes charge as the Chairman of
the 18th Law Commission.
31 : T h e U n i o n C a b i n e t a p p r o v e s a
scholarship scheme for higher
education for students of the
Scheduled Castes and Scheduled
Tribes.
JUNE 2007
2 : Hon’ble President Dr. A.P.J. Abdul
Kalam presents the National Bal
Shree Honour 2006 at
Rashtrapati Bhawan.
8 : Mr. Digambar V. Kamat is sworn
in as the 19th Chief Minister of
Goa.
11 : The Government proposes to expand
the National Child Labour Project
to all endemic districts during the
11th Five-Year Plan period.
14 : Ms. Pratibha Devisingh Patil, a
Congress woman and Governor of
Rajasthan since 2004, is endorsed
as the candidate for the presidential
election.
15 : Government clears the proposal to
set up the Indira Gandhi National
Tribal University.
22 : Prime Minister Dr. Manmohan Singh
announces to set up 30 new central
universities.
25 : Vice-President Mr. Bhairon Singh
Shekhawat files his nomination
papers for the July 19 Presidential
election.
28 : R e d F o r t i s i n c l u d e d i n t h e
UNESCO’s World Heritage List.
30 : Former Delhi Chief Minister Sahib
Singh Verma dies in an accident.
JULY 2007
1 : The Union Panchayati Raj Minister,
Mr. Mani Shankar Aiyar with 57-
member delegation, arrives at
Lahore in Pakistan for a three-day
visit.
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5 : The Union Cabinet approves India’s
participation in the International
Thermo-nuclear Experimental
Reactor (ITER) project.
18 : F o u r t e e n I n d i a n i n n o v a t o r s a r e
awarded the Innovators’ Award
instituted by aerospace giant
Lockheed Martin Corporation, under
its India innovation growth
programme in New Delhi.
21 : Ms. Pratibha Devisingh Patil is
declared elected the 12th President
of India. She defeats her lone
opponent, Vice-President
Mr. Bhairon Singh Shekhawat by a
margin of 3,06,810 votes.
25 : Ms. Pratibha Devisingh Patil is sworn
in as the 12th President of the
country, becoming the first woman
President of India.
A joint meeting of the Cabinet
Committee on Political Affairs
(CCPA) and the Cabinet Committee
on Security (CCS) approves the text
of the 123 civilian nuclear
cooperation agreement arrived at
between India and the US.
26 : L t . G e n . D e e p a k Kapoor is
appointed as the next Chief of
Army Staff; Gen. Kapoor will take
over from Gen. J.J. Singh who
retires on September 30, 2007.
AUGUST 2007
4 : The country’s first mobile court
to make the judicial system
accessible to remote and backward
areas is inaugurated by Chief
Justice of India, Justice K.G.
Balakrishnan, in the Mewat district
of Haryana.
8 : Mr. Shyam Benegal, the renowned
Film Director and the pioneer of new
Indian cinema, wins the 2005
Dadasaheb Phalke Award.
11 : M o h a m m a d H a m i d A n s a r i i s
sworn in as the new Vice-President
of India at the Rashtrapati Bhavan
in New Delhi.
14 : T h r e e a r m y m e n i n c l u d i n g C o l .
Vasanth Venugopal, Capt. R. Harshan
and Naib Subedar Chunni Lal are
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awarded the Ashok Chakra, the
country’s highest award for valour
during peacetime, posthumously. All
the three laid down their lives while
battling terrorists in Jammu and
Kashmir.
19 : Two Indian Air Force (IAF) pilots
Wg. Cdr. Mr. Anil Kumar and
Mr. Rahul Manga create a world
record b y s u c c e s s f u l l y f l y i n g a
microlight aircraft around the world
in 80 days.
21 : Japanese Prime Minister Mr. Shinzo
Abe calls for further strengthening
of ties between Japan and India
during his visit to India.
28 : The Government issues the much-
awaited tender for purchase of
fighter aircrafts which is estimated
to be worth Rs. 42,000 crore but
half of the amount must be sourced
from India.
31 : The Rural Affairs Editor of The
H i n d u, M r . P a l a g u m m i Sa i n a t h
receives the 2007 Ramon
Magsaysay Award for
Journalism, Literature and Creative
Communication Arts from the
Philippines Supreme Court Chief
Justice Mr. Artemio Parganiban in
Manila (Philippines).
SEPTEMBER 2007
1 : Watershed development work taken
up at Haripura in Kota district of
Rajasthan wins the National
Productivity Prize for 2007 in
recognition of good results achieved
in the region.
3 : Delhi becomes the country’s first
state to provide a legal shape to
the much talked about Bread and
Breakfast Scheme with an
ordinance to this effect promulgated
by the Delhi Government.
4 : The five-nation Malabar
e x e r c i s e, p a r t i c i p a t e d b y m o r e
than 20,000 personnel from the
navies of Australia, India, Japan,
Singapore and the United States,
starts in the Bay of Bengal.
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6 : INS Jalashwa, newly acquired
warship from the US, leaves Mumbai
for Visakhapatnam, amid differing
speculations in various quarters in
the backdrop of the multinational
naval drill.
14 : In its revised affidavit the Centre
informs the Supreme Court that it
will consider executing the
Sethusamudram shipping channel
project through an alternative
alignment so that the 30-km-long
Ramar Sethu/Adam’s Bridge
could be protected from damage.
18 : The Jansankhya Sthirata Kosh
(National Population Stabilisation
Fund) begins the exercise of
mapping the existing health facilities
in the country right up to the
district level.
25 : President Ms. Pratibha Devisingh
Patil, in her inaugural address at
the 53rd Commonwealth
Parliamentary Conference
(CPC) in New Delhi, underlines the
importance of collective actions,
stating that sustainable
development cannot be achieved by
individual nations.
28 : The Union Government announces
the extension of the National Rural
Employment Guarantee Act (NREGA),
which guarantees 100 days of wage
employment to rural households, to
all the districts in the country.
29 : A h i g h - l e v e l r e v i e w c o m m i t t e e
suggests radical redesigning and
renaming of the Indian Council of
Social Science Research (ICSSR) as
the Indian Academy of Social
Sciences (IASS) with a view to
restore its credibility.
30 : General Deepak Kapoor takes over
as the Chief of the Army Staff
from General J.J. Singh.
OCTOBER 2007
1 : The Union Cabinet approves the
amendments to the Payment of
Bonus Act, 1965, that will make
industrial workers drawing up to
Rs. 10,000 monthly salary eligible
for annual bonus.
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5 : Agni-I, t h e s u r f a c e - t o - s u r f a c e
missile, is launched successfully from
the Outer Wheeler Island, off the
Orissa coast. The single-stage missile,
powered by solid propellants,
reaches its range of 700 km.
8 : After the withdrawal of support
from the Bharatiya Janata Party,
Karnataka Chief Minister Mr. H.D.
Kumaraswamy submits his
resignation to the State Governor,
Mr. Rameshwar Thakur, following
which the Governor recommends
the dissolution of Assembly and the
imposition of President’s Rule.
10 : International Atomic Energy Agency
Director-General Mr. Mohammed
ElBaradei during his visit to India points
out that there is no deadline for starting
talks on an India-specific safeguards
arrangement but it is imperative for the
country to utilise nuclear energy to
sustain the current high growth rate.
11 : T h e U n i o n C a b i n e t a p p r o v e s a
financial package, including issuing
of Rs. 23,457 crore oil bonds and
extending the subsidy scheme on
LPG cooking gas and kerosene for
the next three years.
13 : The Cabinet Committee on Security
(CCS) clears the Fifth Generation
Aircraft (FGA) to replenish the
depleting Indian Air Force levels
and approves an aircraft-related
joint venture between a Russian
company and Hindustan Aeronautics
Limited (HAL).
15 : U n i o n M i n i s t e r f o r S c i e n c e a n d
Technology Mr. Kapil Sibal
inaugurates a state-of-the-art
National Tsunami Early
Warning Centre, which has the
capability to detect earthquakes of
more than magnitude 6.
16 : The United Women Front (UWF)
– billed as India’s first national
political party formed by women –
is launched in New Delhi.
18 : India and Pakistan reiterate their
commitment to uphold the ceasefire
and hold consultations to
strengthen the confidence-building
measures (CBMs) in New Delhi.
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22 : A c t o r S a n j a y D u t t i s s e n t t o
Ye ra w a d a j a i l a f t e r h e i s fo u n d
guilty in the 1993 Mumbai blasts
case. The 4,340 page judgement
copy is also given to him.
23 : U N s p e c i a l e n v o y M r. I b r a h i m
Gambari meets Prime Minister
Dr. Manmohan Singh and wants New
Delhi to encourage Yangon to work
with UN authorities.
29 : T h e S e n s e x s u r g e s a b o v e t h e
historic figure of 20,000 for the
first time.
NOVEMBER 2007
4 : The All India Democratic Women's
Association (AIDWA) set up seven
c o m m i s s i o n s o n d o w r y, s i n g l e
woman, water management,
panchayats, self-help groups,
health and the National Rural
Employment Guarantee Act
(NREGA).
4 : Swami G a h a n a n a n d a, 14th
President of the Ramakrishna Math
and Mission, passed away in a
Kolkata hospital. He was 91.
5 : In a tightening of provisions in the
seventh round of New
Exploration licensing Policy
(NELP-VII), the union government
decided to make several changes in
the model production sharing
contract. The changes proposed
underlined the government's role in
sale of oil and gas. They also ensure
quicker decision making regarding
the pricing formula.
6 : T e a m l e a s e S e r v i c e s, a h u m a n
r e s o u r c e a n d s t a f f i n g a g e n c y,
released the India Labour Report,
2 0 0 7. T h e r e p o r t s t a t e s t h a t a
large number of educated Indian
youth are simply unemployable,
lacking vocational skills, because as
much as 90 percent of the country's
college and school output has only
bookish knowledge.
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6 : Former SEBI Chairman and Chief
Patron of Bhagwan Mahaveer
Viklang Sahayata Samiti D R Mehta
has been conferred 2007 Tech
Museum Award for Innovation
for the Benefit of Humanity.
Mehta's organisation is the world's
largest artificial limb manufacturing
a g e n c y, k n o w n f o r i t s a ff o rd a b l e
“Jaipur Foot ”.
7 : The visiting President of Switzerland
Micheline Calmy-Rey, concluded
her four-day visit to India during
which she held talks with Indian
leaders on bilateral cooperation and
other matters of mutual interest.
8 : The Union Cabinet approved
amendments to the Armed Forces
Tribunal Bill, 2005, which would
take the load of defence related
cases off the High Courts'
shoulders.
12 : Dr Samir K Brahmachari took
over as Director General of the
Council of Scientific and Industrial
Research (CSIR).
12 : The Department of Telecommunications
(DoT) announced guidelines for
introducing 3G services in the
country and stated that the 3G licences
would be granted through auctioning.
3G is the generic name for next -
generation mobile networks that allow
high data speed. They are capable of
supporting high data rate services such
as high resolution video and multimedia
services in addition to voice, fax and
conventional data services.
12 : I n d i a a n d R u s s i a s i g n e d f o u r
agreements in space, defence, trade
and narcotics control and agreed to
expand their ongoing cooperation in
c i v i l i a n n u c l e a r e n e r g y. T h e
agreements were signed by Russian
President Valdimir Putin and Prime
Minister Manmohan Singh during the
latter's official visit for the 7th
annual summit in Moscow.
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12 : B Ramalinga Raju, Chairman and
F o u n d e r, S a ty a m Computer
Services, was named the Ernst &
Young Entrepreneur of the
Year 2007. He will now represent
India at the Ernst & Young World
Entrepreneur of the year Award in
Monte Carlo, Monaco in May 2008.
The Lifetime Achievement Award
has been given to Keshub Mahindra,
the Patriarch of the Mahindra
Group.
13 : M i c r o s o f t I n d i a ' s I n t e r n a t i o n a l
Development Research Centre
(IDRC) and the M S Swaminathan
Research Foundation (MSSRF) have
launched a Rural Innovation
Fund (RIF) to encourage
entrepreneurs to develop software
solutions for the needs of the rural
communities.
13 : T h e N a t i o n a l H u m a n R i g h t s
Commission (NHRC) reports that
India has witnessed a 4 percent
increase in crimes against children
below 18 y ears. More alarmingly,
child rape rate has gone up by 14
percent and kidnappings and
abductions by 10 percent. It also
notes that missing children remain a
neglected and low-priority
intervention area. The report
observes that the juvenile justice
system has failed to provide care
and protection to vulnerable
children despite the Juvenile
Justice (Care and Protection of
Children) Act, 2000.
14 : U n i o n M i n i s t e r f o r S c i e n c e a n d
Technology, Kapil Sibal, launched an
ambitious and innovative National
Biotechnology Strategy for the
next five years, hoping to hike
revenues of the country's biotech
industries from $2.3 billion to $7
billion by 2010.
14 : Former Union Finance Secretary and
Adviser to the Finance Minister
Vijay Kelkar was appointed as the
chairperson of the 13th Finance
Commission, constituted by
President Pratibha Patil.
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14 : The 13th Technology Summi t and
Technology Platform was organised
by the Union Minister for Science
and Technology and Earth Sciences,
Kapil Sibal. The summit provides
a platform for symbolic partnership
in the technology arena for
promotion of joint ventures,
technology tie-ups and investment
opportunities among participating
countries.
16 : Indian space scientists reached a
new milestone with the successful
testing of the indigenous
cryogenic stage, w h i c h p o w e r s
the Geosynchronous Satellite
L a u n c h Ve h i c l e ( G S LV ) . I n d i a n s
joined an exclusive league of
scientists from the US, Russia and
Europe, who have the capability to
design and build cryogenic engines.
These engines are critical for
launching communication satellites
as well as manned missions.
17 : Noted painter Akbar Padamsee was
honoured with the Dayawati Modi
Award for his outstanding
contribution to contemporary Indian
art. The award is instituted by the
Dayawati Modi Foundation for Art,
Culture and Education. The award
comprises a cash prize of Rs 2.51
lakh, a silver shield and a scroll of
honour.
18 : Former Chief Justice of India R S
Pathak died following a heart
attack in New Delhi.
19 : K a r n a t a k a C h i e f M i n i s t e r B S
Yeddyurappa resigned as the first
government of the Bharatiya Janata
Party (BJP) in south India fell on its
eighth day after H.D. Deve Gowda,
chief of alliance partner Janata Dal
(S), decided he had not got a good
enough deal on ministries.
19 : P r i m e M i n i s t e r M a n m o h a n S i n g h
launched the Indira Gandhi
National Old Age Pension
Scheme (IGNOAPS) that would
provide a monthly pension to people
over 65 years and Below the
Poverty Line (BPL). The scheme,
launched to mark the birth
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 anniversary of former Prime
Minister Indira Gandhi, will cover
1.57 crore people and cost Rs.
3,772 crore, with equal
contributions from all states and
union territories.
19 : Nobel Laureate Wangari Mathai
was awarded the Indira Gandhi
Prize for Peace, Disarmament and
Development for 2007 by President
Pratibha Patil at Rashtrapati
Bhavan, New Delhi.
20 : “The Golden Elephant”, the week-
long 15th International
Children's Film Festival
concluded at Lalitha Kala Thoranam,
Public Gardens, Hyderabad. The
festival was organised by the
Children's Film S o c i e t y, in
collaboration with the state
government of Andhra Pradesh.
20 : Planning Commission approved a
mega scheme of Rs. 1,800 crore for
the 11th Five-Year Plan to
provide scholarships to 25 lakh
students belonging to the minority
communities studying in Class VI to
X. The basic eligibility criterion is
that the annual income of parents
should not be more than Rs 2 lakhs.
20 : The Centre put an end to political
uncertainty in Karnataka by re-
imposing President’s Rule, paving
the way for fresh elections.
21 : The sixth India-Association of South
East Asian Nations, ASEAN
Summit w a s h e l d i n S i n g a p o r e .
India proposed to enhance bilateral
trade with the ASEAN countries from
the current $30 billion turnover to
$50 billion by 2010.
21 : The Human Resource Development
(HRD) Ministry cut down on its
budget for implementing the Right
to Education Law by
approximately Rs 1 lakh crore as
the population of children between
the 6-13 age group has not been
rising according to projections.
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21 : Prime Minister Manmohan Singh and
his Chinese counterpart Wen
Jiabao, during their meeting in
Singapore on the sidelines of the
3rd East Asia Summit, laid stress
on peaceful use of nuclear energy
as a source of clean energy for
attaining energy security. India and
China are confident of surpassing $
30 billion in bilateral trade this year.
As it has already crossed $ 27
billion, the two countries would
achieve target of $40 billion before
2010.
21 : Chairman of India's Atomic Energy
Commission, Anil Kakodkar, met
International Atomic Energy Agency
chief Mohammed El Baradei to
negotiate a safeguards agreement
to pave the way for New Delhi's
deal with Washington.
23 : Uphaar Cinema hall owners Sushil
Ansal and Gopal Ansal were
sentenced by a Sessions Court in
New Delhi to two years rigorous
imprisonment for causing death due
to negligence. On June 13, 1997, in
a devastating fire in the theatre
had caused the death of 59 people.
23 : At least 13 persons, including four
lawyers, were killed and 60 injured
when six bombs went off in three
court complexes in Uttar
Pradesh. Loaded on cycles parked
outside the lawyers’ chambers in
Lucknow, Faizabad and Varanasi,
the bombs exploded in quick
succession, during the official lunch
break.
23 : The union government announced
the National Policy for Farmers,
2007 based on the
recommendations of the National
Commission for Farmers headed by
eminent agricultural scientist M.S.
Swaminathan. It would replace the
National Agriculture Policy, 2000.
23 : T h e 3 8 t h I n t e r n a t i o n a l F i l m
Festival of India (IFFI-2007) was
inaugurated in Goa and was
scheduled to conclude on December
3, 2007.
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24 : T h e I n t e r n a t i o n a l C o u n c i l o f
Jurists Award, 2007 was
presented to the Chief Justice of
England and Wales, Lord Phillips of
Worth Matravers by President
Pratibha Patil, for his lifetime
contribution to the cause of justice.
25 : The three-day Bharatiya Vigyan
Sammelan (All India Science
Conference) 2007 concluded in
Bhopal. The conference presented
10 recommendations that focused
on promoting traditional scientific
knowledge along with modern
science and increased community
participation for balanced and
sustainable development.
27 : C h a i r m a n of the Second
Administrative Reforms
Commission (ARC), M. Veerappa
Moily presented the sixth report of
ARC to Prime Minister Manmohan
Singh. It carries a number of
recommendations on local
governance, favouring democratic
decentralisation and making local
bodies citizen-centric.
27 : St. John's College, Cambridge
has announced the Dr Manmohan
Singh Scholarships. These have
been set up exclusively for Indian
students in order to enable them to
acquire Ph.D. and M.Phil degrees in
areas such as science, technology
and social sciences.
28 : Thomas Bata ( 9 3 ) , h e a d o f t h e
Bata shoe empire, who opened his
small factory near Kolkata in 1932,
has been honoured by the Canada
India Business Council (CIBC) for his
outstanding contribution to
promoting India in Canada.
28 : T h e Delimitation Commission
headed by Justice Kuldip Singh has
notified delimitation in all states,
barring the 19 parliamentary seats in
A s s a m , M a n i p u r, A r u n a c h a l a n d
Nagaland, where the 2001 Census,
the reference point for redrawing
boundaries, is under litigation.
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28 : The Second Administrative Reforms
Commission (ARC) has recommended
a b o l i t i o n o f o c t r o i. B u t i t h a s
suggested that the government
should evolve mechanisms to
compensate local government for
the loss of revenue.
29 : According to the UNESCO Report
on Education, India slipped five
ranks to 105 since 2006 on global
education parameters, leading to
fears that the country would miss
most of the millennium development
goals for its children. Despite
remarkable strides in the UN's
Education for All by 2015
programme, huge gender disparity
remains a problem in India. Girls
account for 66 percent of the out-
of-the-school children in the region,
the highest share worldwide.
29 : UNESCO has conferred a certificate
following the inclusion of Delhi's
historic Red Fort complex in the
World Heritage List. The official
announcement by the World
Heritage Committee in July 2007
has taken Delhi's tally of World
Heritage Monuments to three. The
other two are Qutub Minar and
Humanyun's tomb.
29 : India has been unanimously elected
the Chairman of the Executive
Council of the General Assembly of
the United Nations World
Tourism Organisation (UNWTO)
for a period of one year at the 82nd
meeting held in Colombia.
DECEMBER 2007
1 : Parliament approved a Bill to provide
armed forces status to the
Sashastra Seema Bal (SSB) and
gave it legal backing to strengthen
policing of borders with Nepal and
Bhutan. The Sashastra Seema Bal Bill
2007 was passed by the Lok Sabha.
The Rajya Sabha had already
passed the Bill. The SSB, earlier
known as the Special Service
Bureau, was set up in 1963 after the
S i n o - I n d i a n Wa r. I t g u a r d s t h e
IC : PTpnsgk01
 almost 1,800-km-long border with
Nepal and another stretch of 700 km
with Bhutan. It has 41 battalions.
4 : The Parliamentary Standing
Committee on Labour redrafted
The Unorganised Sector
W o r k e r s ' S o c i a l S e c u r i t y B i l l.
The proposed changes include an
amendment to the title of the Bill,
definition of various significant
terms, and composition of the
national and state social security
advisory boards and functions
assigned to them.
JANUARY 2008
2 : Kiran Bedi who recently took
voluntary retirement from police
service launched a new website
saferindia.com. The portal, under
Project Mission Safer India by
non-governmental organisation
“India Vision Foundation”, will act as
a bridge between complainants and
police service to seek appropriate
redress. The website will entertain
only those who went to police
stations but their complaints were
unheard, unacknowledged or not
registered.
3 : President Pratibha Patil signed the
p r o c l a m a t i o n b r i n g i n g Nagaland
under Central rule. The state
assembly was placed under
suspended animation. The union
cabinet had recommended
President’s Rule on January 1,
2008, after taking stock of the
political situation in the state.
3 : Prime Minister Dr Manmohan Singh
inaugurated the 95th Session of
Indian Science Congress in
Vishakhapatnam. This is the
annual gathering of Indian
scientists with a focus on a
particular scientific theme or issue.
This year the theme was
"Knowledge-based Society Using
Environmentally Sustainable Science
a n d Te c h n o l o g y " . T h e r o l e o f
nuclear energy as an efficient and
clean alternative source of energy
was emphasised in the conference.
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3 : M Natarajan, Scientific Advisor to
the Defence Minister of India,
received the Sir C V Raman Birth
Centenary Award 2008 and a
Gold Medal from Prime Minister
Manmohan Singh at the inaugural
function of the 95th Indian Science
Congress.
7 : Former Prime Minister
Ch andrashekhar's son and
Samajwadi Party candidate Neeraj
Shekhar retained his family's hold
on the Ballia L o k S a b h a s e a t i n
eastern Uttar Pradesh by winning
the by-election by a huge margin.
8 : Prime Minister Dr Manmohan Singh
inaugurated the 6th Pravasi
Bharatiya Divas ( P B D ) m e e t i n
New Delhi. Dr Singh announced the
setting up of a Prime Minister's
Global Advisory Council of People of
Indian origin to serve as a high level
platform to draw upon the
experience and knowledge of the
best Indian minds wherever they
may be based. The Prime Minister
also announced launching of an
Overseas Workers Resource Centre
(OWRC), which will provide relevant
information and assistance to
potential migrant workers, and will
also operate a multilingual help line
for grievance redressal and
interventions on behalf of overseas
workers in distress.
17 : T h e u n i o n c a b i n e t a p p r o v e d a n
additional release of Rs. 530 crore
towards waiver of overdue interest
on agricultural credit in the 31 debt-
stressed districts of Karnataka,
Andhra Pradesh, Kerala and
Maharashtra.
19 : N a t i o n a l K n o w l e d g e C o m m i s s i o n
(NKC) Chairman Sam Pitroda
released the Commission's second
annual “Report to Nation” in New
Delhi. The report includes
recommendations on portals, health
information network, legal
education, medical education,
management education, open and
distance education, open
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 educational resources, innovation,
intellectual property rights (IPRs),
legal framework for public funded
research and traditional health
systems.
24 : The union cabinet approved the
setting up of an All India
Institute of Ayurveda on the
lines of All India Institute of Medical
Sciences (AIIMS) that will focus on
fundamental research, drug safety
evaluation, standardisation, quality
control and scientific validation of
ayurvedic medicine.
24 : Prime Minister Dr Manmohan Singh
gave away the National Bravery
Awards for 2007 to 22 children, 4
girls and 18 boys. Four of them got
t h e a w a r d s p o s t h u m o u s l y. T h e
coveted Bharat Award was
conferred on 17-year old Babita and
Amarjeet of Haryana, who saved
several schoolmates from drowning
when their school bus fell into the
Western Yamuna canal near Ganaur,
Sonipat. The Sanjay Chopra
Award was given to six-year old
Yu k t a r t h S h r i va s t a v a
Chhattisgarh while the Geeta
Chopra Award was conferred
posthumously on Kumar Lalrempui of
Hmar Veng in the Mamit district of
Mizoram.
24 : The Ministry of Culture in
association with the seven Zonal
Cultural Centres (ZCCs) organised
National Folk Dance Festival
“Tarang” from January 24 to 29,
2008 as part of the Republic Day
celebrations.
30 : The union cabinet cleared the
setting up of Central Institute of
Classical Tamil in Chennai at a
cost of Rs 76.32 crore. This followed
the decision to grant Tamil the status
of classical language. Tamil Nadu
Chief Minister would be the ex-
officio chairperson of the institute.
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25 : T h e g o v e r n m e n t a n n o u n c e d t h e
winners of the Padma Awards for
the year 2008. These include 13
Padma Vibhushan, 35 Padma
Bhushan and 71 Padma Shri awards.
For the seventh consecutive year,
nobody was named for the highest
civilian award, the Bharat Ratna.
It was last conferred jointly on Lata
Mangeshkar and Bismillah Khan.
Padma Vibhushan: External
Affairs Minister Pranab Mukherjee,
industrialist Ratan Tata, sportsmen
Sachin Tendulkar and Viswanathan
Anand, Infosys chief mentor
Narayana Murthy, environmentalist
R K Pachauri, Delhi Metro chief E
Sreedharan, UK-based industrialist
Lakshmi Narayan Mittal, Justice A S
Anand, the former bureaucrat P N
D h a r, P R S O b e r o i ( t r a d e a n d
industry) and playback singer Asha
Bhosle. Mountaineer Edmund Hillary
was awarded Padma Vibhushan
posthumously.
of
Padma Bhushan: Indian-American
astronaut Sunita Williams, French
writer Dominique Lapierre, ICICI
chief K V Kamath and Citibank head
Vikram Pandit.
Bollywood actor Madhuri Dixit,
Hollywood filmmaker Manoj Night
Shyamalan and national football
captain Baichung Bhutia are among
the 71 Padma Shri awardees.
25 : D r R a m P u n u j a n i a n d S e t h u
Charitable Trust have been selected
for the National Communal
Harmony Award for the year
2007. Dr Ram Punujani is a former
professor at IIT Mumbai and has
been spreading message of peace
and amity through lectures,
publications, workshops and
meetings and by travelling
extensively to different parts of the
country disseminating messages of
secularism, pluralism and communal
IC : PTpnsgk01
 harmony. S ethu Charitable Tr u s t ,
Mumbai was established in 1994 and
is engaged in the rehabilitation of
riot victims and their families, and
more specially those orphaned by
communal, caste and terrorist
violence in Mumbai and other parts
of the country.
26 : T h e f o l l o w i n g p e r s o n s w e r e
conferred gallantry awards by
President Pratibha Patil.
Ashok Chakra (highest gallantry
award in peace time): Major Dinesh
Raghu Raman (posthumous);
Captain Harshan (posthumous);
Naik Subedar Chunni Lal
(posthumous) and Colonel Vasanth
Venugopal (posthumous).
Kirti Chakra (second highest
gallantry awards): Major Shatrujeet
Kotwal, Major Subha Chand Punia,
Major Kumandur Prabhakar Vinay
and Sepoy Suresh.
26 : India showcased its military might
and diverse cultural heritage in the
capital as the country celebrated its
59th Republic Day with French
President Nicolas Sarkozy as the
guest of honour.




IC : PTpnsgk01
28 : The National Council of Bharatiya
Janata Party approved an
amendment to the Party
Constitution that will provide its
women workers 33 percent
reservation right from the mandal
to all levels. However, there was no
such amendment made in the party
constitution to give the same
percentage of reservation to women
among central office bearers and in
the highest decision making body.
30 : M a h a t m a G a n d h i ’ s g r e a t g r a n d
daughter Nilamben Parikh
immersed his ashes in Chowpatty
bay off Mumbai, on the 60th death
anniversary of Gandhiji. This is the
second time that an urn containing
Bapu's ashes was found. First such
kalash was found in 1997 in a bank
locker in Cuttack (Orissa).
31 : Eminent Hindi writer Krishna Sobti
has been chosen for the 2007
Vyas Samman, the prestigious
award for literature instituted by
the K K Birla Foundation. Sobti has
been given the honour for her novel
“Samay Sargam”, published in 2000.
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 Books and Authors
Chindia Rising Jagdish N Sheth
The Self Destructive Habits of Good Companies Jagdish N Sheth
Business Mantras Gita Piramal
Free Prize Inside Seth Godin
Alexander The Great’s Art Of Strategy Partha Bose
The Elephant, The Tiger and The Cellphone Shashi Tharoor
Who Says Elephants Can’t Dance? Louis V Gerstner Jr
The Origin Of Brands Al Ries and Laura Ries
Businessthink Stephen R Covey
The Bonfire of the Vanities Tom Wolfe
The Romance of Tata Steel Michael Smith
The Age of Turbulence Alan Greenspan
The Black Swan Nassim Nicholas Taleb
Think Big and Kick Ass in Business and Life Donald Trump and Bill Zanker
Microtrends Mark J. Penn with E. Kinney Zalesne
A Bull in China Jim Rogers
Our Iceberg Is Melting John Kotter, Holger Rathgeber
An Outsiders Perspective P Chidambaram
Horizons : The Tata India Century 1904-2004 Aman Nath & Jay Vithalani
Sugar in Milk: Lives of Eminent Parsis Bakhtiar K. Dadabhoy
The Power of Unreasonable People John Elkington and Pamela Hartigan
Billions of Entrepreneurs Tarun Khanna
My Secret Life on the McJob Jerry Newman
Biography of the Dollar Craig Karmin
The Logic of Life Tim Harford

(38) of (202) IC : PTpnsgk01

 EVENTS 2007-08
INTERNATIONAL
JANUARY 2007
1: Mr. Ban Ki-moon of South Korea
takes over as the new UN Secretary-
General.
11 : In a dramatic development,
Bangladesh President Mr. Iajuddin
Ahmed resigns as chief of the non-
party caretaker government and
declares emergency in the country.
20 : Ms. Hillary Clinton, former first
lady and New York senator,
becomes the first woman to bid for
US Presidency in the country’s 230-
year history that has seen 43
presidents – all White Anglo-Saxon
males.
25 : Climate change remains the focus
of discussions at the World
Economic Forum on the first day
in Davos (Switzerland).
29 : Bollywood star Shilpa Shetty
becomes the first Indian to win the
Celebrity Big Brother, a reality
show on UK’s Channel 4, beating
Pop Star Jermaine Jackson.
31 : Mr. Ratan Tata, Chairman of Tata
Group, acquires the Anglo-Dutch
steel firm Corus for £6.7 billion
outbidding Brazil’s Companhia
Siderurgica Nacional (CSN) in
London.
FEBRUARY 2007
1: The jumbo Council of Ministers of
the Mahinda Rajapakse
government of Sri Lanka swells to
108 members in Parliament of 225.
5: The Board of Directors of PepsiCo
announces the appointment of
Indian-American corporate leader
Ms. Indra Nooyi as the
Chairwoman of the company.
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16 : India drafts its 14-clause version of
the important bilateral nuclear
agreement with the US, called ‘123
a g r e e m e n t ’.
20 : E n v i r o n m e n t M i n i s t e r s o f t h e
European Union (EU) announce in
Brussels (Belgium) that they will cut
down overall carbon dioxide
emissions by 20 percent by 2010.
25 : Indian doctors in Britain win a major
concession as the Health
Department agrees to delay the
implementation of the new
discriminatory immigration rules
which effectively bar government
hospitals from hiring doctors from
outside the European Union.
26 : Mr. Martin Scorsese wins his first
best director’s prize at the Oscars
for his film The Departed; the film
also grabs the Best Picture Prize at
the 79th Academy Awards.
MARCH 2007
3 : Pakistan test-fires a short-range
surface-to-surface nuclear missile
‘Hatf-II’ or ‘Abdali’, barely 8 days
after a similar test.
6 : Chinese Foreign Minister Mr. Li
Zhaoxing, in Beijing, says that the
boundary dispute between India and
China is a problem imposed on the
people of both countries by
“Western colonialists”.
14 : The Foreign Secretaries of India
and Pakistan, Mr. Shiv Shankar
Menon and Mr. Riaz Mohammed
Khan, respectively, conclude talks
in Islamabad agreeing to consider
a set of new Kashmir-related
confidence building measures
(CBMs), and conclude a host of
agreements relating to peace and
security.
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27 : T h e A m n e s t y I n t e r n a t i o n a l
expresses its grave concern about
reports that American intelligence
agents have detained and
interrogated terror suspects in
secret places in Pakistan.
31 : Pakistan successfully test-fires a
short range nuclear-capable,
surface-to-surface missile named
Abdali or Hatf VI with a range of
200 km.
APRIL 2007
1 : Prime Minister Mr. Girija Prasad
Koirala of Nepal takes a fresh oath
as the head of the country’s interim
Government, comprising the Nepal
Communist Party (Maoist).
3 : A strong 6.2 magnitude earthquake
rocks Afghanistan, Pakistan and
parts of northern India, triggering
panic in the region, where a
devastating trembler in October
2005 claimed about 80,000 lives.
10 : Pakistan’s cabinet committee on
economic affairs approves a gas-
sharing agreement with India.
13 : A g i t a t i o n o v e r t h e o u s t e r o f
Pakistan Chief Justice Iftikhar
Muhammad Chaudhry rocks
Pakistan.
24 : NASA releases the first 3-dimensional
images of Sun from Solar
Terrestrial Relations
Observatory (STEREO).
28 : Indonesia and Singapore sign a
defence cooperation agreement and
an extradition treaty in Bali.
30 : P a k i s t a n P r e s i d e n t G e n . P e r v e z
Musharraf and his Afghan
counterpart Mr. Hamid Karzai sign
the crucial Ankara Declaration.
MAY 2007
6: Mr. Nicolas Sarkozy,
Conservative Party leader,
elected President of France.
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7 : Nobel laureate Prof. Amartya Sen
is chosen for the 2007 World
Economic Prize.
8 : An Israeli archaeologist finds the
tomb of King Herod.
11 : East Timor Prime Minister Mr. Jose
Ramos, a Nobel Peace laureate, is
elected as President.
25 : The Sri Lankan Government agrees
in ‘principle’ to consider amending
the Grant of Citizenship to Persons
of Indian Origin Act, 2003.
29 : Mr. Umaru Yar’Adua is sworn in
as the President of Nigeria.
30 : Thailand’s Constitutional Court bans
the deposed Prime Minister
Mr. Thaksin Shinawatra from
politics for five years.
JUNE 2007
2 : The Sixth Asian Security
Conference is held in Singapore.
6 : The 33rd Summit of leaders of G8
begins in Heilingendamm
(Germany).
13 : Mr. Shimon Peres, 83, is elected
the ninth President of Israel.
16 : Noted novelist Mr. Salman
Rushdie is conferred
‘Knighthood’ by Queen Elizabeth
II of Great Britain in London.
19 : The French Government presents
the ‘Chevalier de l’Ordre
National du Merite’ (Knight of the
Order of Merit) award to Kolkata
Book Fair Director, Mr. Kalyan Shah.
27 : Mr. Gordon Brown takes over as
the new Prime Minister of Britain.
JULY 2007
1 : Leaders of the African Union
begin a three-day Summit in Accra
(Ghana).
a 7 : In a glittering ceremony in Lisbon, a
is private Swiss foundation chooses
seven “new wonders of the world”
in which Taj gets the supreme place.
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10 : Abdul Rashid Ghazi, the Islamic
cleric who gave a spark to Lal
Masjid’s confrontation is killed in
bloody fighting.
11 : The Royal Society, UK’s National
Academy of Science in London
confers the King Charles II Medal
on Hon’ble President Dr. A.P.J.
Abdul Kalam in recognition of his
extraordinary contribution to
promotion of science in India.
14 : The Australian Federal Police (AFP)
charges Indian doctor Mohammed
Haneef with terrorist activities.
20 : T h e S u p r e m e C o u r t o f P a k i s t a n
reverses the Government’s decision
thereby reinstating the ousted
Chief Justice, Mr. Iftikhar
Chaudhry. This is the first time in
the 60-year history of Pakistan that
the decision of a military ruler has
been reversed.
23 : Turkey’s Justice and Development
(AK) party led by Prime Minister
Mr. Recep Tayyip Erdogan
sweeps victory in the Parliamentary
elections, cornering 46.7 percent of
the votes and 341 seats in the 550-
member Parliament.
27 : Sri Lanka becomes a member of the
ASEAN Regional Forum (ARF).
31 : A u s t r a l i a assures India of
“cooperation” in the civil nuclear
energy sector during the 40th
Ministerial Meeting of the Association
of South East Asian Nations (ASEAN)
in Manila (The Philippines).
AUGUST 2007
1 : During a meeting organised by the
Association of South East Asian
Nations (ASEAN) in Manila
(Philippines), External Affairs
Minister Mr. Pranab Mukherjee
and Chinese Foreign Minister
Mr. Yang Jiechi express satisfaction
on the bilateral trade relations
between the two countries and
discuss climate change and energy
security issues.
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8 : Mr. Xanana Gusmao who has also
served as the country’s first
President, is sworn in as East Timor’s
new Prime Minister in Dili.
18 : Russia resumes global patrols by
its long-range bombers to deal with
the threats to its national security.
21 : R u s s i a n P r e s i d e n t M r . V l a d i m i r
Putin kicks off Russia’s biggest air
show, vowing to use oil windfall to
boost the plane-building and other
high-tech industries.
28 : T h e T u r k i s h P a r l i a m e n t e l e c t s
Foreign Minister Mr. Abdullah Gul
as the country’s President, making
him the secular republic’s first head
of the state with an Islamist past.
29 : The Taliban sets free 12 of the 19
South Korean captives as the
six-week hostage crisis in
Afghanistan reaches near
resolution.
SEPTEMBER 2007
2 : The US and North Korea resume
nuclear weapon talks in Geneva,
with the chief US negotiator hoping
to nail down progress achieved
earlier.
6 : Nepal’s largest and oldest party,
the Nepali Congress, decides to
go in for a federal republic,
practically ending any space for the
survival of the 240-year monarchy
in the country.
10 : I n d i a a n d M e x i c o s i g n t h r e e
pacts, including an extradition
treaty and a double tax avoidance
treaty.
12 : R u s s i a a n n o u n c e s t h a t i t h a s
successfully tested a lethal new air-
delivered bomb, which it says is the
world’s most powerful non-nuclear
weapon.
20 : P a k i s t a n E l e c t i o n C o m m i s s i o n
announces October 6, 2007 as the
date of Presidential election,
clearing the way for President Gen.
Pervez Musharraf to run for the
top post.
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23 : Japan’s ruling party, the Liberal
Democratic Party, chooses centrist
Mr. Yasuo Fukuda as the
country’s next Prime Minister, after
Mr. Fukuda fends off a challenge
from the former Foreign Minister,
Mr. Taro Aso.
30 : North Korea agrees to declare all
its nuclear programmes and disable
its main atomic reactor in
Yongbyon under the US
supervision by year-end as the next
step in a landmark agreement
reached by the six parties at the
second round of their talks in
Beijing.
OCTOBER 2007
2 : UPA Chairperson Ms. Sonia Gandhi
addresses the United Nations
General Assembly as the United
Nations marks Mahatma Gandhi’s
birthday as the first International
Day of Non-violence.
3 : Prof. Ben Green, Hershel Smith
Professor of Mathematics at
Cambridge University (UK), is
selected for the prestigious
SASTRA Ramanujan Prize in
recognition of his outstanding
contributions to different areas on
mathematics influenced by the
Indian genius Srinivasa Ramanujan.
4 : South Korea and North Korea agree
to resolve the issue of unification
on their own initiative in accordance
with the spirit of by-the-Korean
people themselves.
5 : Nepal’s peace progress suffers a
setback after the Coalition
government decides to suspend the
Constituent Assembly election
scheduled for November 22, owing
to irreconcilable differences among
the partners of the ruling combine
on the future of the monarchy and
the modality of the election.
6 : Pakistan President Gen. Pervez
Musharraf gains victory in a
Presidential election marred by
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opposition resignations and boycott,
and questions about the legality of
his candidacy pending in the
Supreme Court that prevented the
official declaration of the results.
8: Prof. Mario Capecchi and
Prof. Martin Evans of USA with UK’s
Prof. Oliver Smithies are announced
as the winners of the 2007 Nobel
Prize in Medicine for their creation
of “designer mice” to track the roles
of different genes in human
development and disease.
9 : France’s Prof. Albert Fert and
Germany’s Prof. Peter Gruenberg win
the 2007 Nobel Prize in Physics
for a discovery that has shrunk the
size of hard disks found in computers,
iPods and other devices.
10 : Germany’s Prof. Gerhard Ertl wins
the 2007 Nobel Prize in
Chemistry for his studies of
chemical reactions on solid surfaces,
which are key to understanding
questions related to the thinning of
ozone layer.
11 : British writer Ms. Doris Lessing wins
the 2007 Nobel Literature Prize
for her epic novels which cover
feminism, politics and her youth in
Africa.
12 : The former US President Mr. Al Gore
and the UN’s top climate panel, the
Intergovernmental Panel on Climate
Change (IPCC), jointly win the
2007 Nobel Peace Prize.
15 : Three USA economists Prof. Leonid
Hurwicz, Prof. Eric S. Maskin and
Prof. Roger B. Myerson are
announced as Nobel Prize
winners in Economics for 2007.
16 : Irish author Ms. Anne Enright wins
the Man Booker Prize for her
novel ‘The Gathering.’
17 : At the IBSA Summit in Pretoria, Prime
Minister Dr. Manmohan Singh with
South African President Mr. Thabo
Mbeki and Brazilian President Mr.
Luiz Inacio Lula da Silva
emphasise on the need for ensuring
the supply of safe, sustainable and
non-polluting sources of energy to
meet the rising demand.
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18 :The former Pakistan Prime Minister,
Ms. Benazir Bhutto r e t u r n s t o
Pakistan ending eight years of self-
i m p o s e d e x il e . S o o n a f t e r, s h e
narrowly escapes a suicide attack
in which over 150 persons are killed.
20 : Mr. Bobby Jindal, a Conservative
Republican Congressman from the
New Orleans suburbs is elected
Louisiana’s Governor, the nation’s
youngest and first Indian-American
Governor.
21 : The 17 th National Congress of the
Communist Party of China (CPC)
adopts a resolution to amend the CPC
constitution, enshrining “Scientific
Outlook on Development” and
other strategic thoughts.
24 :During a trilateral meeting among
External Affairs Minister Mr. Pranab
Mukherjee, Chinese External Affairs
Minister Mr. Yang Jiechi and their
R u s s i a n c o u n t e r p a r t M r. Sergei
Lavrov in Harlin, China, India
opposes imposing sanctions on
Myanmar and calls for encouraging
all stake holders to advance political
reforms and national reconciliation.
28 : Argentina’s First Lady, Ms. Cristina
Fernandez de Kirchner wins the
country’s presidential election,
becoming the first elected woman
President.
NOVEMBER 2007
3 : Pakistani President General
Pervez Musharraf declared
emergency rule, suspended the
Constitution and fired the country's
Chief Justice.
5 : Social Democrat Alvaro Colom was
elected Guatemala's new
President, promising a new
beginning and a broad political
dialogue to confront the Central
American country's economic and
social problems.
6 : China and the United States agreed
to open a hotline between the
defence ministries of the two
countries. Chinese Defence Minister
Cao Gangchuan and visiting US
Secretary of Defence Robert
Gates made the announcement in
Beijing.
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6 : China and Russia pledged to step
up their partnership as they inked
sweeping deals covering politics,
diplomacy, energy and finance. The
agreements were signed after
visiting Chinese Prime Minister Wen
Jiabao and his Russian counterpart
Viktor Zubkov conferred on
bilateral relations.
7 : Justice Iftikhar Mohammad
C h a u d h a r y, t h e d e p o s e d C h i e f
Justice of Pakistan Supreme Court,
was awarded the highest honour of
the prestigious Harvard Law
School, Medal of Freedom for his
work to uphold the legal system's
fundamental commitment to freedom
and justice.
7 : Iran built a landmark 3,000
centrifuges for uranium enrichment,
according to President Mahmoud
Ahmadinejad, despite inter-
national pressure to halt its atomic
work. Scientists say that in ideal
conditions, 3,000 centrifuges can
make enough highly enriched
uranium in a year's time for an atom
bomb.
7 : Of the 123 countries ranked in the
Trade and Development Index
(TDI) 2006 by the United Nations
C o n f e re n c e on Tr a d e and
Development ( UNCTAD), India
secured 86th position. The TDI
indicates how well trade and
development are integrated in a
c o u n t r y. I t t a k e s i n t o a c c o u n t
economic, social and institutional
factors like human capital, physical
infrastructure and trade
performance to determine the
extent of contribution of trade to
overall development. The US ranks
number one, followed by Germany,
Denmark, the UK and Singapore.
8 : US author Norman Mailer, the
author of World War II account
“The Naked and the Dead” passed
away in New York. Norman Mailer
won the Pulitzer Prize twice, in
1969 for “The Armies of the Night”
and in 1980 for “The Executioner's
Song”.
10 : According to the World Economic
Forum's latest Gender Gap Index
report, India has been ranked 114
after taking into account economic,
political, educational and health
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 parities, among 128 countries.
Gender Gap Index was topped by
Sweden with a gender equality of
81.5 percent, followed by Norway,
Finland and Iceland.
12 : India and Russia have resolved the
long-pending issue of utilising the
rupee debt fund totalling Rs. 80
billion for Russian investments and
trade and signed an accord on
development and production of a
multi-role transport aircraft. The two
sides inked four agreements after
the 2-day Eighth Indo-Russian
Summit talks between Indian Prime
Minister Dr Manmohan Singh and
Russian President Vladimir Putin at
the Kremlin.
12 : China launched a new remote
sensing satellite, nearly three
weeks after its first lunar orbiter
was sent into space. The 2,700 kg
satellite Yaogan III was launched
on board a Long March-4C carrier
rocket from the Taiyuan Satelli te
Launch Centre in North China's
Shanxi province.
14 : Alexis Lemaire, a 27-year-old
French mathematician created a
world record after working out in
his head the 13th root of a random
200-digit number in just 72.4
seconds.
15 : The five-day 20th World Energy
Congress concluded in Rome. At
the end of the Congress, Russian
representatives confirmed that they
have chosen Europe as a priority
market for energy supplies for many
years.
15 : The UN Nobel-winning panel of
climate scientists sifted through
evidence that global warming would
wreak far-reaching damage as they
prepared a report for world decision-
makers. The report summarises the
assessment of the
Intergovernmental Panel on
Climate Change (IPCC) regarding
global warming, its impacts and the
tools for tackling it.
15 : Russia withdrew troops that were
based in Georgia since the Soviet
collapse in 1991. The Russian troop
presence had long been a source
of irritation between the two
countries.
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16 : Muhammed Soomro, Chairman of
the Pakistan Senate was sworn in
by Pakistani President General
Pervez Musharraf as the caretaker
Prime Minister to take the country
into the January 2008
Parliamentary elections.
16 : The UN General Assembly passed a
draft resolution calling for an end to
the death penalty, which critics
complained marked an attempt to
interfere with the sovereignty of the
UN member-states.
17 : I s r a e l a n d t h e P a l e s t i n i a n
Authority agreed on a pledge to
negotiate "immediately and
continuously" to reach a final
peace agreement within a year.
But the draft declaration avoids
going into detail on the core issues.
Israel has rejected any mention of
the 1967 borders, seen by the
Palestinians and many others as the
indispensable basis for agreement.
18 : An International Non-Governmental
Organisation (NGO), Water Aid,
has put India in second place on
the list of the world’s worst places
for sanitation. China is number one
in the 2007 Water Aid report on
the status of the world’s toilets.
18 : The two-day Finance Ministers and
Central Bank Governors Meeting of
Group of Twenty (G-20) concluded
in Kleinmond (South Africa). The
meeting focused on currency
imbalances and the risks to global
growth from credit woes stemming
from the US subprime mortgage
crises.
18 : The Third Summit of Head of States
and governments of OPEC member
countries concluded in Riyadh, Saudi
Arabia. I t issue d a call to the
international community to protect the
stability of global energy markets,
reaffirming the need to use energy
for sustainable development and
emphasis ing the importance of
protecting the environment.
19 : The US and Russia reached an
agreement on how to safely
dispose of 34 metric tonnes of
Russian weapons-grade
plutonium, overcoming a major
hurdle in a joint nuclear non-
proliferation effort that at times has
been close to falling apart.
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20 : Ian Smith, the former Rhodesian
P r i m e M i n i s t e r, w h o u n i l a t e ra ll y
declared independence from British
rule, died at Capetown in South
Africa. Smith ruled the country for
15 years from 1964 to 1979, in an
ultimately futile effort to maintain
white minority rule. Rhodesia
became Zimbabwe
independence from Britain in 1980.
20 : Dr S u r i n P i t s u w a n , a f o r m e r
Foreign Minister of Thailand, was
formally appointed as
Secretary-General of ASEAN for
the period 2008-2012.
21 : T h e UN General Assembly
Committee passed a resolution
slamming Myanmar, Iran and
North Korea for human rights
abuses despite objections by
several developing nations.
21 : Russia announced that it will hold
Presidential polls on March 2, 2008
to elect a successor to incumbent
Vladimir Putin.
22 : India ranks 128 out of 177 countries
in the latest Human
Development Index (HDI)
released by the United Nations
Development Programme (UNDP).
The HDI is a summary measure for
monitoring long-term progress in
average level of human
development in three basic
dimensions: a long and healthy life,
access to knowledge and decent
standard of living. At the top of
the HDI list is Iceland (0.968) and
at the bottom is Sierra Leone
(0.336). In the immediate
neighbourhood, Sri Lanka is ranked
99, Maldives 100, Bhutan 133,
Pakistan 136, Bangladesh 140 and
Nepal 142.
23 : The Council of the Commonwealth
suspended Pakistan for the
second time in eight years after
President Pervez Musharraf clamped
a state of emergency.
24 : A t t h e e n d o f t h e 5 3 - n a t i o n
Commonwealth Summit held in
Kampala (Uganda), the leaders
pledged to work closely to promote
policies to combat climate change,
but could not agree
recommending a binding target for
cutting emissions of greenhouse
gases.
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24 : A pro-government majority of
Bolivia's Constituent Assembly
approved a new draft Constitution for
the country, with an opposition boycott
and violent protests on the streets.
24 : Australia's Labour Party swept
into power at national elections,
propelling 50-year-old former diplomat
after Kevin Rudd into office on a wave of
support for generational change.
Labour Party routed the coalition led
by Conservative Party’s Prime
the Minister John Howard, which has
ruled the country for 11 years, with
a promise of major policy changes on
Iraq and global warming.
25 : T h e Bush Administration
announced that it will suspend its
legal defence of a new rule issued
in August 2007 to punish employers
who hire illegal immigrants,
conceding a hard-fought opening
round in a court battle over a
central measure, in its strategy to
curb illegal immigration.
25 : T h e f o r m e r P r i m e M i n i s t e r o f
Pakistan, Nawaz Sharif, returned
to his home land from Saudi Arabia
after seven years of exile. Sharif
was compelled to live in exile after
the then Pakistani Army Chief and
present-day President Pervez
Musharraf staged a bloodless coup.
26 : India's High Commissioner to the UK
and career diplomat Kamlesh
Sharma was unanimously elected
Secretary-General of the
Commonwealth. He will resume
office on April 1, 2008. He is the
first Indian to hold the coveted post.
26 : In the Croatian elections, Prime
Minister Ivo Sanader's Croatian
Democratic Union (HDZ) won 60
seats, while the Social Democrats
(SDP) got 55 seats.
26 : C h i n a a n d F r a n c e s i g n e d m a j o r
deals for passenger jets and a
nuclear reactor worth $ 27 billion,
after the Presidents of the two
nations vowed greater cooperation
in trade and international affairs.
26 : P a k i s t a n ' s President Pervez
Musharraf resigned as army chief in
a ceremony held at the army's
on headquarters at Rawalpindi and
appointed General Ashfaq Kiyani,
former Chief of the Intelligence
service (ISI) as the new army chief.
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27 : Pakistan's Pervez Musharraf was
sworn in as a civilian president
for another five years in office, a
day after he resigned as army
chief. This is his second term as
the President of Pakistan. He first
took power in a military coup in
1999 and ruled for eight years as
a military president.
27 : The Middle East Peace Conference
also known as “Annapolis Peace
Conference” was held at the
United States Naval Academy in
Annapolis, Maryland (US). The goal
of the conference was to produce
a substantive document on
resolving the Israeli-Palestinian
conflict along the lines of President
George W Bush's roadmap for peace
with the eventual establishment of
a Palestinian State.
30 : I r a n a g r e e d t o f i n a n c e p r o j e c t s
worth $ 1.9 billion in Sri Lanka on
soft terms following a bilateral visit
by Sri Lanka President Mahinda
Rajapakse to Tehran.
DECEMBER 2007
1 : Miss China Zi Lin Zhang was
crowned Miss World 2007 at the
Chinese tourist resort of Sanya
while Miss Angola Michaela Reis was
the first runner up and Carolina
Mor from Mexico was the second
runner up.
2 : It was a landslide victory for
United Russia, the party
supported by President Vladimir
Putin, in the parliamentary
elections. United Russia bagged 315
seats in the 450-seat Duma while
the communists came a distant
second, followed by the Liberal
Democratic Party.
3 : Australia ratified the Kyoto
Protocol and will be a full member
of the Protocol by the end of March
2008.
3 : The UN Climate Change
Conference began in Bali
(Indonesia). Delegates and scientists
from around the world aimed to build
a new international pact by 2009 to
combat global warming or risk economic
and environmental disaster caused by
rising temperatures.
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3 : Asian nations came together in Beppu
( J a p a n ) f o r t h e f i r s t “Water
Summit” aiming to tackle water-
related disasters, which hit this region
more than any other and are seen
to worsen due to global warming.
3 : Vo t e r s i n Ve n e z u e l a n a r r o w l y
defeated a proposed overhaul to
the Constitution in a contentious
referendum over granting President
Hugo Chavez sweeping new
powers. It was the first major
electoral defeat in the nine years
of his presidency. Voters rejected
the 69 proposed amendments 51 to
49 percent.
JANUARY 2008
1 : Slovenia b e c a m e t h e f i r s t n e w
European Union member state to
take over the helm of the European
Union. For the next six months,
until the end of June 2008,
Ljabljana will be steering EU policy
following the conclusion of the
Portuguese presidency.
2 : India and Myanmar held
comprehensive talks in New Delhi
to enhance bilateral ties,
particularly in trade and energy.
The visiting Foreign Minister of
Myanmar, U Nyan Win held wide
ranging discussions with India's
External Affairs Minister Pranab
Mukherjee.
6 : A scientific expedition team from
China reached the height of 3,000
metres on the Antarctica at the
Changcheng (Great wall) station
in the west of the continent.
11 : Nepal will hold its first elections
in nine years on April 10, 2008.
The twice-delayed elections will
establish a special assembly which
is meant to write a new
Constitution for Nepal, formally
declare the country a republic after
more than two centuries of royal
rule and replace the current interim
parliament.
13 : T h e I n t e r n a t i o n a l P o l i c e A g e n c y
“Interpol” announced the
resignation of its President and
South African Police Commissioner
Jackie Selebi who had been
placed on extended leave in South
Africa on suspicion of corruption.
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15 : I n d i a n Prime Minister Dr
Manmohan Singh left for India
after his three-day maiden visit to
Beijing during which he held talks
with China's top leadership and
received a pledge from Beijing on
bilateral co-operation in the field of
civil nuclear energy.
17 : India and Malaysia finalised a
draft memorandum of
understanding on the recruitment
and welfare of each others'
workers. India estimates that
nearly 150,000 of its nationals are
working in Malaysia.
21 : T h e 4 t h I n d i a - U K S u m m i t
concluded in New Delhi with the two
countries vowing to forge ever-
closer linkage on all major political
and economic issues including
counter terrorism and climate
change. The two Prime Ministers,
Dr Manmohan Singh and Gordon
Brown stressed that the countries
will jointly work in every conceivable
way to further boost their
“strategic partnership of equals”.
22 : Iraq’s parliament adopted a new,
temporary national flag in a move
long demanded by the country
minority that the Saddam
Hussein-era banner is reminder of




Pearls of wisdom
“Life is the acceptance of responsibilities or their evasion it is a business of meeting
obligations or avoiding them. To every man the choice is continually being offered, and
by the manner of his choosing you may fairly measure him.”
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the cruelty of his rule. The flag
was also changed in 2004, when a
line of script, allegedly in Saddam
Hussain's own handwriting, was
changed to Kufic script. But the
latest change is only temporary, as
a design for a new flag will be
sought after one year. The Arabic
inscription “Allahu Akbar” (God is
Great) in green will be retained.
28 : Thailand’s newly elected House of
Representatives voted People
Power Party (PPP) leader Samak
Sundaravej as the country’s new
Prime Minister. Samak was
backed by 310 members of the 480-
seat House of Representatives.
Samak's only rival was the 43-year
old Abhisit Vejjajiva, leader of the
Opposition Democrat Party, who got
163 votes.
29 : T h e g o v e r n m e n t o f I n d i a h a s
cleared the biggest ever arms
deal with the United States--
purchase of six large transport
planes at an estimated cost of one
billion dollars (about Rs. 4,000
crore). The Hercules C-130 J
aircraft, which has all-weather and
night-flight capabilities will improve
the ability of the Indian armed
forces to quickly transport troops
to areas of conflict.
– BEN AMES WILLIAMS
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 EVENTS 2007-08
SPORTS
JANUARY 2007
4: Services win the men’s National
basketball title, beating Kerala in
the final played in Jaipur
(Rajasthan).
6: South Africa defeat India by five
wickets in the third and final Test match
in Cape Town, to win the series 2-1.
18 : Viswanathan Anand (India) wins
over Russian Grandmaster Peter
Svidler in the fifth round of the
Group A at Corus International
Chess tournament.
31 : India score a 160-run victory over
West Indies in the fourth ODI at
Vadodara (Gujarat), thus winning
the One-Day International series 3-
1; Sachin Tendulkar is declared ‘Man
of the Series’.
31 : Sachin Tendulkar scores his 41st
century in ODIs and in all, 76th
century in international cricket at
Vadodara.
FEBRUARY 2007
5 :Mumbai win the 2007 Ranji
Trophy final defeating Bengal by
132 runs in Mumbai.
8 :Noted chess player Koneru
Humpy wins the Rs. 1.5 lakh
MAYTAS Vizag Challenger
Trophy with a game to spare
beating J. Deepan Chakkravarthy.
17 : India win the Hero Honda Cup
ODI series 2-1 as it defeat Sri Lanka
by seven wickets in the final of the
four-match series in Visakhapatnam.
18 : The 33rd National Games come
to an end in Guwahati with Manipur
winning the IOA’s special trophy for
emerging the best among states
bagging 51 Gold, 31 Silver and 40
Bronze medals.
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MARCH 2007
3 : India’s Jeev Milkha Singh is
named ‘Asian Player of the
Year’, after a successful season
which saw him lift four titles and
top the Asian Tour Order of Merit.
16 : Herschelle Gibbs (South Africa)
creates ODI record by hitting six
6s o f f D a a n V a n B u n g e ’ s ( T h e
Netherlands) one over in a Group ‘A’
match of the 2007 World Cup, which
South Africa won by 221 runs at
Warner Park, Basseterre (St. Kitts).
20 : India defeat Bermuda by a record
margin of 257 runs in their Group B
match of the World Cup 2007 at
Port of Spain (Trinidad).
24 : South Africa eke out a one-wicket
win over Sri Lanka despite Lasith
Malinga’s unprecedented four
wickets in four successive balls
in a World Cup Super Eight match
at Georgetown (Guyana).
APRIL 2007
8 : Martin Strel of Slovenia completes
his swim of the entire 5,265 km
Amazaon River in 65 days, thus
making a new world swimming
distance record.
17 : South Korean city of Incheon wins
the bid to host the 2014 Asian
Games, outmanoeuvring New
Delhi.
27 : India wins six Bronze medals at the
Asian Weightlifting Championship
held in Taian in Shandong Province of
China.
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28 : Australia win the ICC Cricket
World Cup 2007 by beating Sri
Lanka by 53 runs in the final at
Keningston Oval in Bridgetown
(Barbados). Australian speedster
Glenn McGrath who took 26
wickets in the tournament is
adjudged the ‘Player of the
Tournament’ .
MAY 2007
15 : I n d i a c l i n c h t h e o n e - d a y s e r i e s
against Bangladesh. India claim the
honours 2-0 with M.S. Dhoni being
declared the ‘Man of the Series’.
18 : Dempo Sports Club of Goa wins
its second National Football
League Title defeating Mohun
Bagan of West Bengal 1-0 at the
Nehru Stadium, Margao (Goa).
26 : China’s Guo Yue defeats Li Xiaoxia in
the women’s singles final at the World
Table Tennis Championship in
Zagreb.
27 : India beat Bangladesh by an innings
and 239 runs in the second Test at
Dhaka to clinch the two-match Test
series 1-0; Sachin Tendulkar, who
scores his 37th century in Tests, is
declared the ‘Man of the Series’.
JUNE 2007
10 : Propped up by superb centuries of
M.S. Dhoni and Mahela Jayawardene,
Asia XI win the third and final ODI
o f t h e Afro-Asia Cup c r i c k e t
tournament held at the M.A.
Chidambaram Stadium, Chennai, by
13 runs thereby clinching the series
3-0.
18 : Golfer Angel Cabrera of Argentina
wins the US Open Championship
defeating United States’ Tiger
Woods with a 1-under-par 69 at
Oakmont (USA). This is the first
Argentine win in a major
championship event in 40 years.
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29 : S a c h i n T e n d u l k a r r e a c h e s t h e
total of 15,000 ODI runs while
playing the second one-dayer of
the Future Cup in Belfast, Ireland.
JULY 2007
5 : Sochi, the Russian Black Sea resort,
wins the right to host the 2014
Winter Olympic Games at the
International Olympic Committee
meeting in Guatemala City.
7 : Venus Williams of USA defeats
Marion Bartoli of France 6-4, 6-1 in
the Wimbledon women’s singles in
London.
8 : Roger Federer of Switzerland
defeats Spaniard Rafael Nadal 7-6
(7), 4-6, 7-6 (3), 2-6, 6-2 in the
men’s singles final at Wimbledon
in London.
23 : G o l f e r P a d r a i g H a r r i n g t o n o f
Ireland wins the British Open
defeating Sergio Garcia of Spain in
Carnoustie, Scotland.
29 : Iraq win the 2007 AFC Asian Cup
Football title with a 1-0 victory over
Saudi Arabia in Jakarta, Indonesia.
AUGUST 2007
7 : Indian Archery team led by World
Cup Gold medallist Dola Banerjee
wins the npower International
Archery Challenge at Lord’s
(England).
8 : Manavjit Singh Sandhu is chosen
for the Rajiv Gandhi Khel Ratna
award 2006 for his outstanding
performance in shooting. He won
the trap shooting Gold in the World
Championships 2006 in Zagreb.
9 : Jaspal Rana, a triple Gold
Medallist in the 2006 Doha Asian
Games, is announced as the
“Sportsperson of the year
2006-07” at the seventh Petroleum
Sports Promotion Board’s annual
awards function held in New Delhi.
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13 : The third and final Test m a t c h
between India and England at
The Oval ends in a draw. India
win the series 1-0.
19 : Viswanathan Anand of India wins
World Rapid Chess
Championship at Mainz (Germany)
defeating Levon Aronian 2.5-1.5 in
the best-of-four games final.
29 : The Indian football team win the
ONGC Nehru Cup defeating Syria
1-0 in New Delhi.
SEPTEMBER 2007
5 : Dimitri Mascarenhas of England
hits five sixes in an over against
India which is the first time five
sixes have been hit in an ODI over
against a Test-playing nation.
9 : India retain the men’s Asia Cup
Hockey title with a resounding 7-
2 win over South Korea in the
summit clash at Chennai.
11 : ICC Twenty20 World Cup begins
in South Africa, with the host
defeating West Indies in the
inaugural match.
12 : New Zealand create a new world
record by defeating Papua New
Guinea 39-0 in the Oceania Olympic
men’s hockey qualifying
tournament.
16 : Brett Lee of Australia claims the first
hat-trick in Twenty20
international against Bangladesh
in Cape Town, South Africa.
19 : Yuvraj Singh hits six 6s off an
over, a first in Twenty20 cricket,
against England in the ICC World
Twenty20 in Durban, South Africa.
20 : Host China win both the men’s and
women’s team titles in the Asian
Table Tennis Championship in
Yangzhou.
24 :India win the inaugural ICC World
Twenty20 defeating Pakistan by
5 runs in the final in Johannesburg,
South Africa.
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26 : V i s w a n a t h a n A n a n d o f I n d i a
scores over Alexander Morozevich
of Russia to emerge as the 11th-
round winner at the World Chess
Championship in Mexico City,
Mexico.
OCTOBER 2007
3 : Mark Boucher o f S o u t h A f r i c a
breaks the world record for
maximum number of wicketkeeping
dismissals in the first cricket Test
against Pakistan in Karachi
(Pakistan), surpassing Australian
Ian Healy’s record (395).
12 : South Africa clinch Test series
defeating Pakistan 1-0 as the
second Test match ends in a draw
in Lahore (Pakistan).
14 : Australia clinch the Future Cup
ODI seven-match series defeating
India by 18 runs in the crucial sixth
match of the seven-match series in
Nagpur, Maharashtra.
17 : Australia clinch the Future Cup
trophy 4-2; India defeat Australia
by two wickets in the last match
held at Wankhede Stadium in
Mumbai. Murali Kartik, who picked
up 6 wickets and made valuable 21
runs is adjudged the 'Man of the
Match.' Andrew Symonds of
Australia is chosen the 'Man of the
Series . '
20 : Narjit Singh of India claims the lone
Gold for India in boxing on the last
day of the Military Games held
in Hyderabad, Andhra Pradesh.
20 : South Africa register a 15-6 win
over England in the Rugby World
Cup final at the Stade de France in
Paris (France).
21 : Kimi Raikkonen clinches his first
Formula One World title by
winning the Brazilian Grand Prix
held in Sao Paulo.
21 : Argentine David Nalbandian beats
Roger Federer of Switzerland 1-6,
6-3, 6-3 to clinch the Madrid
Masters tennis tournament held in
Madrid, Spain.
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21 : Justine Henin of Belgium defeats
French Tatiana Golovin 6-4, 6-4 to
secure the Zurich Open title at
Zurich, Switzerland.
29 : South Africa win ODI series 3-2
against Pakistan with a stunning
14-run victory in the fifth and final
match in Lahore, Pakistan.
NOVEMBER 2007
7 : Churchill Brothers clinched the
120th Durand Cup football title
when they registered a 1-0 win over
Mahendra United (Mumbai) in New
Delhi.
11 : World No. 1 woman tennis player
Justine Henin beat Maria
Sharapova of Russia 5-7, 7-5, 6-3
in Madrid to retain her WTA
Championships Title.
11 : Australian wicket-keeper and hard-
hitting left-handed batsman Adam
Gilchrist was voted Australia's
greatest player of one-day
international cricket ahead of Ricky
Ponting and former captain Steve
Waugh.
13 : Roger Federer of Switzerland was
crowned the year's top player for
the fourth consecutive time when
he received the ATP Race Award
2007 in Shanghai.
15 : Saurav Ganguly became the third
cricketer in the world to have taken
100 wickets and scored 10,000
runs in one day internationals. He
captured this record when he took
the wicket of Pakistan's Shahid Afridi
in Gwalior. Sachin Tendulkar is
at number one position with 154
wickets and 15,835 runs in 405
ODIs followed by Sanath Jaisurya
of Sri Lanka.
18 : Switzerland’s Roger Federer won
his fourth Masters Cup title after
five years in Shanghai (China) when
he defeated world's No. 6 David
Ferrer 6-2, 6-3, 6-2.
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20 : Australia won the final and second
test match of the Warne-
Muralitharan Trophy after
defeating Sri Lanka by 96 runs in
Hobart.
24 : Dola Banerjee created history by
winning the gold medal in the
women's Individual Recurve
Competition at the World Cup
Archery final in Dubai (UAE).
25 : Sachin Tendulkar b r o k e Allan
Border's record of 11,174 runs in
test matches in the first test match
against Pakistan in New Delhi. Sachin
is only behind Brian Lara who has
made 11,953 runs in test cricket.
25 : American Tyson Gay, winner of
three gold medals at the Osaka World
Championships in August 2007 and
Ethiopian distance runner Meseret
Defar, who broke her own world
record in the 5000 metres in Oslo in
June 2007, were named Athletes
of the Year 2007.
DECEMBER 2007
12 : Sanath Jayasuriya, the 38-year-
old former captain and left-handed
batsman of Sri Lanka, announced
his retirement from test cricket. He
has played 109 Tests and scored
6885 runs.
16 : Sri Lanka's off-spin bowler Muttiah
Muralitharan s u r p a s s e d f o r m e r
Australian bowler Shane Warne's
world record of 708 test
wickets. Playing his 116th match,
Muralitharan created history against
England at Kandy, while claiming the
wicket of Paul Collingwood.
JANUARY 2008
4 : USA beat Serbia 2-1 in the final of
Hopman Cup to clinch the title.
Serena Williams and Mardy Fish of
the USA bagged the title with a
straight-set win in the deciding
mixed doubles 7-6 (5), 6-2 defeating
Jelena Jankovic and Novak Djokovic.
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6 : Mikhail Youzhny of Russia beat
Rafael Nadal of Spain to win the
Chennai Open Title in Chennai.
Youzhny beat Nadal 6-0, 6-1 in the
final.
6 : The logo for the 2010
Commonwealth Games designed
by Bangalore-based Idiom Design,
was launched in New Delhi at the
grand finale of “1000 days to go”
countdown run. The logo,
i n c o r p o r a t i n g “ C h a k r a ”, a s a n
unwinding spiral symbolising sport
is a variant of an existing logo. It
also incorporates the Commonwealth
Games Federation emblem.
9 : Gujarat won the Ranji Trophy
Plate title in Mumbai after
defeating Railways. From next year
the Plate finalists will play in the
Superleague knock-out rounds.
11 : The Bangalore Hi-Fliers defeated
Chandigarh Dynamos in Bangalore
to clinch the Premier Hockey
League title. They beat
Chandigarh 2-1 in the third final of
the ESPN Premier Hockey League.
12 : Abhijeet Gupta emerged
champion in the sixth Parsvnath
International Open Chess
To u r n a m e n t w h e n h e d e f e a t e d
Uzbek Grandmaster Marat
Dzhumaev in the crucial 10th and
final round.
12 : South Africa registered victory
over West Indies in test cricket
series and won the series 2-1 in
Durban (S. Africa).
19 : India registered a historic win
over Australia in Perth in the
third cricket test by 72 runs after
losing two test matches at
Melbourne and Sydney. Australia
which was chasing the target of
413 runs for a record 17th
successive test victory against India
was dismissed for 340 runs. Irfan
Pathan was named Man of the
Match.
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19 : Delhi won the Ranji Trophy after
defeating Uttar Pradesh in the
super league final in Mumbai. Delhi
won the trophy after a long gap of
16 years.
22 : P e t r o l e u m S p o r t s P r o m o t i o n
Board registered its ninth
successive victory in the men's
section for the Rahimatullah Cup
and in the women’s section for the
Chadha Cup at the Senior National
Badminton Championship in Panaji.
The men's team defeated Air India
3-2 and women's team beat
Railways 2-1.
24 : Eight franchised city-based teams
will feature in the BCCI backed
Indian Premier League ( I P L ) .
The star-studded Twenty-20 cricket
competition will be held over 44
days in April and May 2008. BCCI
Vice-President and IPL Chairman
Lalit Modi announced in Mumbai that
Mumbai, Delhi, Kolkata, Chennai,
Bangalore, Hyderabad, Mohali and
Jaipur would be the teams. The
tournament has a pool of nearly 80
international cricketers and the
franchisees will take part in the
auctions for the players.
Mukesh Ambani's Reliance
Industrial Limited won the Mumbai
franchise in the BCCI backed
Indian Premier League (IPL), with
the most expensive bid of 111.9
million dollars. Vijay Mallya of the
UB Group was close behind with
111.6 million dollars bid for
Bangalore.
The other IPL bids were won by
Deccan Chronicle ( 1 0 7 m i l l i o n
d o l l a r s f o r H y d e r a b a d) , I n d i a
Cements (91 million dollars for
Chennai), GMR Group (84 million
dollars for Delhi) Shah Rukh's Red
Chillies Entertainment (75.09
million dollars for Kolkata), Preity
Zinta, Ness Wadia, Karan Paul and
Dabur's Mohit Burman (76 million
dollars for Mohali) and Emerging
Media (67 million dollars for
Jaipur).
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24 : The Sony Television network and
Singapore-based World Sports
Group have purchased the
television rights for BCCI-backed
IPL for the next 10 years for 1
billion dollars.
27 : Serbia's Novak Djokovic emerged
champion in men's singles final of
the Australian Open
Championship in Melbourne
(Australia). He defeated Jo-Wilfried
Tsonga of France 4-6, 6-4, 6-3, 7-
6 (2) in the thrilling match. Maria
Sharapova o f R u s s i a b e a t A n a
Ivanovic of Serbia 7-5, 6-3 to clinch
the women's singles title. It was
Sharapova's first Australian Open
Title. In the men's doubles final,
Jonathan Erlic and Andy Ram
of Israel beat Arnaud Clement and
Michael Llodra of France 7-5, 7-6
(4) to emerge winner. In the mixed
doubles final, Sun Tian-tian
(China) and Nenad Zimonjic
(Serbia) triumphed after defeating
Mahesh Bhupati and Sania Mirza of
India 7-6 (4), 6-4.
27 : B . C h e t a n A n a n d a n d S a i n a
Nehwal (both PSPB players) won
the men's singles title and women's
singles title respectively in the 72nd
senior National Badminton
Championship, which concluded in
Panaji. Chetan beat Aravind Bhat
21-14, 22-20. Saina Nehwal
defeated Trupti Murgunde 21-11,
21-10.
29 : I n d i a ' s o f f - s p i n n e r H a r b h a j a n
Singh was cleared of the charge
of racial abuse against Australian
all-rounder Andrew Symonds during
the test in Sydney in the Appeal
Hearing session at Adelaide Federal
Court.




Pearls of wisdom

“Do not bite at the bait of pleasure till you know ther is no hook beneath it.”
– THOMAS JEFFERSON

“If you can imagine it, you can achieve it, if you can dream it, you can become it.”
– WILLIAM ARTHUR WARD

“There are no eternal facts as there are no absolute myths.”

– FRIEDRICH NIETZSCHE

“God brings men into deep waters, not to drown them, but to cleanse them.”
– JOHN AUGHEY
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 EVENTS 2007-08
SCIENCE AND SPACE
JANUARY 2007
10 : In a successful multi-mission, India’s
Polar Satellite Launch Vehicle
(PSLV)-C7 takes off from its
beachside launch pad at Sriharikota
and injects four satellites into
precise orbit; two of which, namely
Cartosat-2 and SRE (Space
capsule Recovery Experiment) are
from India while LAPAN-TUBSAT is
a joint venture of Indonesia and
the Technical University of Berlin,
and the PEHUENSAT-I is of
Argentina.
22 : India successfully recovers satellite
SRE-1 which was launched from
Sriharikota in Andhra Pradesh.
FEBRUARY 2007
13 : China successfully puts its fourth
Beidou navigation satellite into
orbit from the Xichang Satellite
Launch Centre in south west
China’s Sichuan province.
MARCH 2007
2 : Swiss astrophysicists Mr. Michel
Mayor a n d M r . Stephane Udry
discover a planet outside our solar
system that is potentially as
habitable as the Earth.
12 : I n d i a ’ s l a t e s t c o m m u n i c a t i o n s
satellite, INSAT-4B, is successfully
launched by Ariane-5 vehicle from
Kouru Island in French Guyana.
APRIL 2007
8 : Indian-American astronaut Sunita
L. Williams tests for the first time
on board the ISS (International
Space Station), a miniature
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biological laboratory called LOCAD-
PTS (short for Lab-On-a-Chip
Application Development-Portable
Test System), which had been
launched in December 2006, aboard
NASA’s space shuttle Discovery.
23 : T h e Indian Space Research
Organisation (ISRO) makes the first
commercial successful launch of
Italian satellite, Agile through the
PSLV-C8.
JUNE 2007
22 : The space shuttle Atlantis carrying
Ms. Sunita Williams and six other
astronauts lands safely at Edwards
Air Force Base in California.
AUGUST 2007
4 : Phoenix Mars Lander, a US
space probe is successfully
launched from Cape Canaveral,
Florida, beginning its nine-month
journey to Mars, where it will dig
for clues to past and present life.
SEPTEMBER 2007
2 : The Geosynchronous Satellite
Launch Vehicle, GSLV-F04 is
successfully launched from
Sriharikota and it places the
communication satellite INSAT-4CR
in its predetermined orbit.
27 : N A S A ’ s ‘ D a w n ’ s p a c e c r a f t i s
launched from the Cape Canaveral
Air Force station in Florida (USA);
the first of its kind space mission
has been designed to explore two
asteroids – Ceres and Vesta – in
order to throw light on the
mysteries of our solar system’s
genesis.
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 OCTOBER 2007
10 : R u s s i a ’ s Soyuz-FG rocket,
headed to International Space
Station (ISS), blasts off from a
launch facility in Kazakhstan.
23 : US space shuttle Discovery blasts
off to the International Space
Station. This is the second time in
NASA's history that a woman,
retired Air Force Col. Pamela
Melroy i s c o m m a n d i n g a s p a c e
shuttle.
24 : China launches its first lunar probe
when Chang’e-I, the country’s first
lunar orbiter blasts off from Xichang
Satellite Launch Center in China’s
Sichuan Province.
NOVEMBER 2007
1 : “Science Express”, a special
exhibition mounted on a train was
flagged off at Safdarjung Railway
Station in New Delhi on Oct 30, 2007
by Prime Minister Dr Manmohan
Singh and German Chancellor
Angela Merkel. The exhibition is
the result of a partnership in science
and technology between India and
Germany and explains how scientists
have uncovered some fundamental
understanding of nature.
12 : Intel launched its new breed of
Hafnium-based high-k metal gate
chips which are smaller, faster,
more energy efficient and do not
use toxic materials such as lead and
halogen.




Pearls of wisdom
“A positive attitude may not solve all your problems, but it will annoy enough people to
make it worth the effort”
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17 : Eka, a supercomputer developed at
Pune's Computational Research
Laboratories (CRL), a Tata
subsidiary, has been ranked fourth
in the Top 500 list of the fastest
supercomputers in the world at
the international conference on high
performance computing in Reno,
Nevada. The Tata supercomputer
is named Eka after the Sanskrit term
for one, can perform 117.9 Teraflop
or trillions of calculations per second.
The No. 1 position was claimed by
the Blue Gene/L system, a joint
development of IBM and the U.S.
Department of Energy's (DOE)
National Nuclear Security
Administration (NNSA), installed in
California.
22 : T h e Indian Space Research
Organisation (ISRO) has signed a
memorandum of understanding with
Tata Motors to develop cars that
will run on hydrogen. ISRO will
provide the expertise for handling
liquid hydrogen i.e., cryogenic
technology in the proposed vehicle
while Tata will do the manufacturing.
JANUARY 2008
21 : T h e Indian Space Research
Organisation (ISRO) launched Israel's
Technology Satellite from the Satish
Dhawan Space Centre at Sriharikota
establishing its prowess in commercial
launches. The Polar Satellite Launch
Vehicle (PSLV-C-10) placed the 300
kg TECSAR satellite, also called as
Polaris, in the intended orbit after a
perfect lift off.
– HERM ALBRIGHT
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 BUSINESS UPDATES

The Economic Times Awards, one of the country's most prestigious awards
presented every year to leading corporates, business leaders and entrepreneurs,
were conferred on the outstanding awardees in different categories in a ceremony
in Bengaluru on October 4, 2007. Talent Management, expansion on global scale
and flawless execution emerged as the leitmotif of the 2006-07 awards for
corporate excellence.

Sensex touches 20,000-mark the Indian bourses to surge and

The Sensex touched the historic figure
of 20,000 on October 29, 2007, in the
third biggest single day gain for the BSE
30-share index. The rally of 1-3 percent
in other Asian markets also supported
broader markets also participated in the
ra l l y. T h e B S E c a p i t a l g o o d s i n d e x
gained 7 percent and the BSE Bankex
was up by 4 percent, while the BSE oil
and gas index gained 5 percent.

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Maiden commercial flight of the
Airbus A380
The Airbus A380, the world's largest
commercial jetl iner, made history on
October 25, 2007, with its maiden flight
from Singapore to Sydney. The Singapore
Airlines flight, which took off from Changi
airport in the morning, landed several
hours later in Sydney thereby scripting a
new era in the history of aviation. On
board the flight were a crew of 30
including four pilots and over 450
passengers from 35 countries. Earlier,
tickets for the flight were sold in an online
auction which raised $1.3 million for
charity. Mr. Julian Hayward, who paid
more than $100,000 for a pair of first-
class suites, was the top bidder while Mr.
Georg Burdicek, who paid $560 for an
economy seat, got the cheapest ticket.
The inaugural commercial flight of the
double-decker Airbus A380 has put an end
to the nearly 37-year hegemony of the
Boeing 747 jumbo jet as the most spacious
passenger aircraft. Generally, the Boeing
747 jumbo jet carries about 400
passengers whereas the A380 is capable
of carrying as many as 853 passengers in
an all-economy class configuration.
However, for its historic first fl ight,
Singapore Airlines (SIA), regarded as one
of the best in the world, preferred a
configuration of 471 passengers divided
into three classes including 12 in Singapore
Airlines suites, 60 in business class and
399 in economy class.
The A380 is as tall as a seven-story
building with each wing big enough to
hold 70 cars. It is also the most fuel
efficient and quietest passenger jet ever
built to this date. The plane is powered
by four Rolls Royce Trent 900 engines.
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Mukesh Ambani becomes the
richest Indian
Reliance industries Chairman, Mr. Mukesh
Ambani has overtaken NRI steel tycoon
Mr. Lakshmi Mittal to become the richest
Indian in the world. Mr. Ambani's net worth
has soared past $50 billion, making him the
first Indian and only the fourth person
after Mr. Bill Gates, Mr. Carlos Slim Helu
and Mr. Warren Buffett to have a wealth
higher than this amount.
Based on the closing share prices of various
group companies such as RIL, Reliance
Petroleum, IPCL and Reliance Industrial
Infrastructure, Mr. Ambani was estimated
to have held shares worth $ 50.1 billion
(about Rs. 2,00,000 crore) through
promoter holdings in these companies.

Four Indian-Americans make it
to Forbes list
Four Indian-Americans – acoustics pioneer
Mr. Amar Bose, Google founder director
Mr. Kavitark Shriram, venture capitalist
Mr. Vinod Khosla and Mr. Bharat Desai,
CEO of an info-tech outsourcing firm –
have made it to the Forbes list of richest
Americans. In the list released on
September 21, 2007, Mr. Bose shares the
271st place with Mr. Shriram with a net
w o r t h o f $ 1 . 8 b i l l i o n . M r. D e s a i a n d
Mr. Khosla are ranked 286th and 317th,
respectively, in the list.

India signs MoU with Bangladesh
India has signed a Memorandum of
Understanding (MoU) with Bangladesh on
September 16, 2007 in Dhaka on procedural
arrangements for importing eight million
duty-free apparel articles under South
Asian Free Trade Area (SAFTA). The MoU
allows India to import apparel items from
Bangladesh without any conditionality of
sourcing of fabric or port restrictions.

India & Japan to sign currency
swap pact
During his visit to India, Japanese Prime
Minister Mr. Shinzo Abe, on August 22,
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2 0 0 7, p r o p o s e d t o s i g n a b i l a t e r a l
agreement on currency swap that will add
to a regional network of such accords
designed to provide emergency financial
liquidity to either or both parties in times
of currency market or other turbulence.
M r. A b e s a i d t h a t h i s g o v e r n m e n t i s
committed to assist India in infrastructure
development, particularly the Delhi-
Mumbai and Delhi-Kolkata dedicated freight
corridors and Delhi-Mumbai Industrial
Corridor (DMIC).

Abatement rate raised for tour
operators’ services
The Centre on August 23, 2007, hiked the
rate of abatement from 60 percent to 75
percent for the purpose of calculating the
service tax payable by tour operators on
‘package tour’ services. With the Central
Board of Excise and Customs (CBEC)
issuing an amendment notification to this
effect, tour operators henceforth will be
required to pay service tax only on 25
percent instead of the earlier 40 percent
of the gross amount charged on customers
for such package tours.

Taj Hotels Partners Okura of
Japan
Taj Hotels Resorts and Palaces and Okura
Hotels and Resorts, one of the largest
international hotel groups in Japan, on
S e p t e m b e r 4 , 2 0 0 7, e n t e re d i n t o a
strategic joint marketing alliance to
develop cross-promotional opportunities
for both companies to harness each other’s
strengths in their respective markets of
dominance. Under the alliance, Taj Hotels
and Okura Hotels have agreed to
implement reciprocated points in each
loyalty programme – the Taj Inner Circle
and the Okura Club, wherein both hotel
chains will allow guests to earn and burn
points at the participating hotels.
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Bharti, Wal-Mart form Wholesale
Venture
Bharti Enterprises and Wal-Mart Stores
Inc. announced on August 6, 2007 a 50 :
50 joint venture to form Bharti Wal-Mart
Private Ltd. for their wholesale cash-and-
carry and back-end supply chain
management operations in India. Through
the new venture, the company would
serve neighbourhood kirana stores, fruits
and vegetable resellers, restaurants and
caterers and other business owners,
besides other retailers including Bharti
Retail, which would be soon opening its
stores in India. The new venture would
also provide small retailers and other
business owners a wide range of quality
products at competitive prices thereby
helping them to grow their business and
increase profitability.

Dream launch of 787 Dreamliner
787 Dreamliner, the new passenger jet
from Boeing Co., made a debut display
in front of the company’s 15,000
employees at the aircraft manufacturer’s
plant at Everett, near Seattle, USA on
July 8, 2007. The much-hyped mid-sized,
long-range aircraft is built with 50
percent carbon composite materials and
15 percent titanium, making it much
lighter and fuel efficient than existing
aircrafts of the same size. The
Dreamliner is Boeing’s first new model in
13 years featuring a speciality of
lightweightness, whose newly designed
engines are made by General Electric
Co. and Rolls-Royce Plc that will help
save about 20 percent on fuel costs.
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ONGC to produce Gas from KG
Basin by 2012
Oil and Natural Gas Corporation (ONGC)
has drawn up plans to begin production
from its Krishna Godavari Basin block off
the East Coast by 2012. It has tied up
with GAIL (India) Ltd. for transportation
and marketing of the gas. After signing
an agreement with GAIL for monetising
of the reserves on July 24, 2007, ONGC
C h a i r m a n a n d M a n a g i n g D i r e c t o r,
Mr. R.S. Sharma said the corporation
estimated an initial output of 12 million
standard cubic metres a day from the
KG-DWN-98/2 block in 2012.

NSEL to launch the country’s
first Spot Commodity Exchange
The National Spot Exchange (NSEL), which
is an arm of the Multi Commodity
Exchange (MCX), will launch its first spot
exchange in Ahmedabad. This will be the
first virtual spot commodity exchange in
the country. It has been decided that
after the monitoring of the performance
of Ahmedabad spot commodity exchange,
the company will launch others in
Rajasthan and Maharashtra. The MCX is
India’s largest commodity exchange. It
has appointed Neutron Electronic System,
a communication technology solutions
provider, as its technology partner. Such
a partnership would enhance MCX to
enhance its video based interactivity
programme and also organise the existing
and potential stakeholders in the
commodities trading system. This would
be possible through various training
programmes. In fact, such a move will
enhance efficiency and responsiveness.

L&T to develop an IT Park in
Tamil Nadu
Larsen & Toubro and Arun Excello have
announced that they would develop an
IT park as part of its proposed integrated
township at Vallancheri in Tamil Nadu.
This proposed park has been given the
SEZ (Special Economic Zone) status. It
has been named as IT SEZ, ESTANCIA.
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The total investment in the proposed
integrated township would be around
Rs. 1,500 crore. This IT township will
consist of residential apartments and
retail space.

AV Birla Group launches
Retailing Brand
The Aditya Birla Group has stepped into
the retailing segment with the launch of
Aditya Birla Retail that will operate under
the brand name ‘Mor e’. The retail ing
venture will operate under two formats
– Hyper markets and Super markets. The
company will provide multi-shopping
formats through a series of conveniently
located neighbourhood supermarkets
that would stock the daily and weekly
household shopping needs and
destination hypermarkets that cater to
monthly and event-based shoping needs.
The first supermarkets under the ‘More’
brand would open shortly in Pune and
then expand quickly to other major cities.
He also said the investment in the first
three years would be between Rs. 8,000
and Rs. 9,000 crore, which will be
financed through a mix of debt and
equity. All stores would be owned stores
and the investment in retailing would
not be from any of the listed Aditya
Birla Group companies.

Millionaire club swells to over
100,000 in India
As per a recent study released on June
29, 2007 by Merrill Lynch and Capgemini,
the number of high net worth Indians grew
the second fastest in the world in 2006
with a 20.5 percent rise admist a strong
performance by stocks and property
markets. The number of High Net Worth
Individuals (HNWI), with a net asset of
atleast $1 million, increased by 20.5
percent to 100,015 in India in 2006,
second only after 21.2 percent growth in
Singapore. Besides India, countries like
Australia, Brazil, Canada, China, Germany,
Russia, the UK, and the US also have
more than one lakh people with at least
one million dollars in net assets, excluding
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their primary residence and consumables.
The number of Indian millionaires stood at
about 83,000 in 2005.

IBM launches ‘Project Big
Green’
Leading information technology company
International Business Machine (IBM) has
announced ‘Project Big Green’ in India
that will help companies reduce their
energy consumption by almost 50
percent. Under the project, IBM will be
launching new products and services
that will help reduce data centres’
energy consumption turning them into
‘green’ data centres. IBM has launched
this initiative as part of the global
‘Intelligent Energy’ campaign, aimed at
helping economies cope with the existing
and impending energy crisis.

L&T Infotech to invest Rs. 1,000
crore
L&T Infotech, the IT arm of Larsen &
Toubro, will invest about Rs. 1,000 crore
for expansion in the next three to four
years and is expecting to accumulate a
revenue of $1 billion by 2010. L&T has
recently built a new 19,000 seat capacity
software development centre in Navi
Mumbai, at an investment of Rs. 60
crore. L&T Infotech Chairman, Mr. A.M.
Naik said, the company would be
investing Rs. 500-600 crore on
infrastructure and another Rs. 200-300
crore in developing engineering services
in the next 3 to 4 years.

Wipro builds India’s first eco-
friendly desktops
Wipro Infotech has become the first
Indian computer maker to launch eco-
friendly machines that comply with the
European Union standard on Restriction
of Hazardous Substances (RoHs) – the
information technology industry’s most
stringent guidelines on the use of and
limits on hazardous substances like lead,
mercury, cadmium and compounds of
chromium on June 14, 2007. Wipro’s
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initiative comes in a week when the
world’s leading IT players – Google, Intel
and 30 other companies announced a
coalition with the WWF to try to halve
the amount of energy used by computers
within three years.

TCS ranks among world’s top 10
profitable IT companies
Tata Consultancy Services (TCS), the
largest software service company in
India, has been ranked among the
world’s top 10 profitable firms with a
return on equity of 46 percent, on June
24, 2007. TCS also ranks 23rd among
world’s 100 leading IT companies. TCS,
which went public in 2004, has been
growing rapidly with 41 percent rise in
revenues at $4.3 billion for the fiscal
year ended March 31, 2007. The company
has the largest network of delivery
centres outside of India among all Indian
firms. In Latin America alone, it employs
more than 5,000 people, and has
recently announced a new service
delivery centre in Mexico. The company
reported fourth-quarter profit rise of 47
percent, less than expected, as an
appreciation in the rupee eroded the
value of overseas sales. The net income
climbed to Rs. 1,170 crore ($280 million)
for the three months ended March 31,
2007 from Rs. 796 crore in 2006.

GE ties up with Healthcare Global
GE Healthcare and Healthcare Global
Enterprises announced on June 14, 2007
a tie-up to address the growing cancer
diagnosis and treatment sector in India.
GE Healthcare is providing advanced FDA
complaint molecular imaging and scanning
equipment that can reduce the cost of
cancer treatment and help the 77
percent of all cancer patients who cannot
access treatment in early stages.
Healthcare Global has already set up the
first operational Molecular Imaging
Centre, functioning in Bangalore, which
is investing over $84 million over 5 years
to expand its treatment centres and
helping speciality hospitals.
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Mukesh Ambani is India’s First
Trillionaire
Owing to sudden increase in share prices
of Reliance I ndustries Ltd., the man
behind the screen, Mr. Mukesh Ambani,
the Chairman of the group, earned a
rare distinction by becoming the only
trillionaire in India with over Rs. 1,00,000
crore of wealth through his
shareholdings. M r. A n i l Ambani,
Mr. Mukesh’s younger brother is also not
much far away from his elder brother
holding close to Rs. 90,000 crore of
wealth in the stock market through his
holdings in his group of companies. The
combined market capitalisation of the
four Mukesh Ambani Group of companies
viz., RIL, Reliance Petroleum, IPCL and
Reliance Industrial Infra-structure Ltd.,
has crossed the Rs. 2,50,000 crore
mark. The total promoter holding in these
companies is worth over half at about
Rs. 1,30,000 crore. The total investor’s
wealth in the four Anil Ambani Group
firms viz., Reliance Communications,
Reliance Capital, Reliance Energy and
Reliance Natural Resources Ltd., has
reached Rs. 1,42,384 crore, while total
promoter holding is estimated at about
Rs. 87,000 crore.

Air Sahara renamed JetLite
Air Sahara has been renamed ‘JetLite’ by
Jet Airways Managing Director Mr. Naresh
Goyal who acquired Air Sahara for
Rs. 1,450 crore from the Sahara group
after a long legal battle. Now, the airline
has been upgraded as a value-based
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airline. From June 1, 2007, the airline has
stopped taking bookings for business class
and changed the announcement on board
a s ‘ We l c o m e o n - b o a rd J e t L ite’, w h i c h
earlier was ‘Welcome on-board Sahara
J e t L i te’. C o m p a ny o ff i c i a l s a re i n t h e
process of gradually changing the business
model, the aircraft and sinage at various
airports. Meanwhile, two or three planes
have been converted into an all-economy
configuration, while some passengers can
pay for economy class and sit in business
class if they are lucky. Jet Airways has
introduced a new livery, which has been
painted on two of the 65 aircraft in its
fleet. Moreover, over 600 employees of
Air Sahara have become full-time
employees of JetLite w.e.f. June 13, 2007,
as per the promise made by Jet Airways
after finalising the deal.

AI-Indian merged entity to be
known as Air India
Ministry of Civil Aviation has announced
that post Air India- Indian merger, the
new entity will be known as ‘Air India’,
while, ‘Maharaja’ will be retained as its
mascot. The merged entity, to be called
the National Airline Company Ltd., would
start operation from July 2007. The new
company will have its registered office
in New Delhi, while its corporate office
will be in Mumbai. The new company’s
office for domestic operations as well as
the strategic business units will be
mostly based in Delhi. The delivery of
new aircraft including Boeing 777-200
and A321 would begin from July 2007.
Air India is also planning to launch a
direct non-stop flight from Mumbai to
N e w Yo r k p r o b a b l y i n A u g u s t 2 0 0 7,
followed by a non-stop Delhi-New York
flight. The new company would order or
lease 25 new aircraft by the end of
2007. The logo of the new airline is a
red coloured flying swan with the ‘Konark
Chakra’ in orange, placed inside it. The
flying swan had been morphed from Air
India’s characteristic logo, ‘The Centaur’,
whereas the ‘Konark Chakra’ was
reminiscent of Indian’s logo.
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Wockhardt buys top French drug
firm for $265 million
In yet another major overseas
acquisition, Wockhardt, the Mumbai-
based pharmaceutical and healthcare
m a j o r, h a s b o u g h t N e g m a L e r a d
Laboratories, the fourth largest
integrated pharmaceutical group in
France for $265 million (Rs. 1,089 crore).
It is the third largest acquisition in the
pharma sector by an Indian company,
after Dr. Reddy’s $570 million purchase
of Betapharm, and Ranbaxy’s $324
million acquisition of Romania’s Terapia.
Negma Lerad has 600 employees,
including a 280-strong sales force. It
was owned by Ifrah Financials, a French
financing company. It has sales of $150
million. The company has 172 patents in
its pipeline that may lead to new drugs.
With this acquisition, Wockhardt has
become the largest Indian pharmaceutical
company in Europe with more than 1,500
employees based in the continent. It will
now enjoy a pan-European presence,
covering several key markets – Germany,
the United Kingdom, Ireland and France.
Wockhardt’s European business will now
account for more than 60 percent of the
company’s total revenues. Wockhardt
presently has a portfolio of 130 products
in the European market. Both Betapharm
a n d Te r a p i a , t o o , w e r e o w n e d b y
venture capital funds before being
bought by Indian companies.
The acquisition comes at a time when
falling profits in the United States
unbranded medicine market have been
adversely impacting the earnings of
major Indian companies.

First stretch of Dahej-Panvel-
Dabhol Pipeline commissioned
The first stretch of Dahej-Panvel-Dabhol
pipeline, which will feed natural gas to
the beleaguered Dabhol Power Project
in Maharashtra, has been commissioned.
The 100-km Dahej to Surat length of the
pipeline was commissioned by Petroleum
Minister Mr. Murli Deora with a ‘gas-in’
at Dahej, according to a press release
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issued by GAIL, the company laying the
pipeline.
With gas flowing from Dahej, where
Petronet LNG imports and regassifies
liquified natural gas, into the first stretch
of the 576-km Dahej-Panvel-Dabhol
pipeline decks have also been cleared
for resumption of the work on a 12-km
stretch of the pipeline in Chourasiya
Taluka in Surat district.
But for the small stretch of 12-km, almost
all of the pipeline has been laid. Work
on the 12-km length was stalled as
Gujarat Government opposed the project
on the ground that the gas pricing
formula worked out for Dabhol would
result in rise in price of gas for industries
in the State. The Centre has decided to
pool the price of spot LNG being imported
for Dabhol with the long-term cheaper
gas price, resulting in price of gas for
the power plant coming down but the
same for industries going up.

GAIL to invest Rs. 25,000 crore
The state-run gas transporter GAIL plans
to invest about Rs. 25,000 crore in
laying new pipelines and expanding
petrochemical business during the next
five years.
According to GAIL Director (Finance)
Mr. R.K. Goel, out of the total capex,
Rs. 10,000 crore will be funded from
internal resources and the remaining Rs.
15,000 crore will be borrowed from
domestic and overseas market. GAIL’s
current debt-equity ratio of 0.12:1 will
help leverage debt for the expansion
projects. The company will invest Rs.
2,744 crore during current fiscal – Rs.
1,761 crore in laying new gas pipelines,
Rs. 146 crore in petrochemicals, Rs. 500
crore in oil and gas exploration and Rs.
268 crore in new projects.
Meanwhile, GAIL’s net pr ofit for the
financial year 2006-07 went up
marginally to Rs. 2,387 crore against
Rs. 2,310 crore a year ago while its
Quarter 4 profit went up by 67 percent
due to overall increase in natural gas
business.
IC : PTpnsgk01

Vodafone seals Hutch deal
UK’s telecom giant Vodafone has paid a
discounted price of $10.9 billion in cash
for Indian mobile firm Hutch-Essar to
complete a deal that gives it access to
one of the fastest growing mobile
markets to counter saturation in
European markets. The final price
represents a reduction of $180 million
from the originally agreed price of $11.08
billion, which reflects retention and
closing adjustments as agreed with seller
Hutchison Telecom.
The adjustments include provisions for a
previously announced settlement pact
with Indian partner Essar. The stage is
n o w s e t f o r Vo d a fo n e t o s t a r t i t s
operations in India, which is witnessing
an addition of five million new mobile
subscribers every month. Hutch-Essar will
become Vodafone-Essar over a period of
time.

Tata Power to acquire
Indonesian coal companies
Ta t a Po w e r C o m p a n y ( T P C ) , I n d i a ’s
l a r g e s t p r i v a t e p o w e r g e n e ra t o r,
announced on March 31, 2007 that it
has inked definitive agreements to
purchase 30 percent share in Indonesia’s
two major thermal coal producers, PT
Kaltim Prima Coal (KPC) and PT Arutmin
Indonesia (Arutmin), and a related
trading company of PT Bumi Resources
Tbk (Bumi).
According to a company press release,
as part of the purchase, TPC has signed
an Offtake Agreement with KPC, which
entitles it to buy about 10 million tonnes
of coal per annum. TPC will be paying
$1.1 billion for this purchase prior to
working capital and other adjustments.
According to the Managing Director of
T P C , M r. P r a s a d R . M e n o n , t h e
acquisition of these coal companies,
among the top three largest exporting
thermal coal mines in the world,
specifically addresses fuel requirements
for Mundra UMPP (Ultra Mega Power
Project), Trombay (near Mumbai) and the
coastal power project in Maharashtra.
IC : PTpnsgk01
It is complementary and supports the
assumptions made in the bid for Mundra
UMPP.
The acquisition is expected to secure
fuel requirements of TPC in the light of
the aggressive growth plans charted out
by it and open up opportunity to own
and operate a range of world class,
competitive and profitable power
businesses in India as well as overseas.

TCS announces historic Joint
Venture in China
Tata Consultancy Services (TCS), one of
India’s largest IT solutions companies,
announced the inauguration of its joint
venture in China on February 13, 2007.
The joint venture is the outcome of
negotiations over two years between
TCS and its three Chinese partners and
is being touted as a role model for the
Chinese IT sector. According to TCS CEO
M r. S . Ra m a d o r a i , t h e j o i n t ve n t u r e ,
which marks an historic day in India-
China IT collaboration, plans to employ
about 5,000 people over the next five
years in China. The company employs
some 800 people in China today.
The joint venture is expected to provide
a big boost to the Chinese IT industry.
The Chinese software industry has been
growing at a healthy pace of about 30-
40 percent annually in recent years.
H o w e v e r, s o f t w a r e e x p o r t fr o m t h e
mainland is behind India. In 2005, total
revenue earned from software export
touched $3.59 billion whereas India’s
exports for the year ended March 31,
2006 were worth a hefty $17.2 billion.

Tatas acquire Corus
The Tatas, one of India’s oldest business
houses, created corporate history on
January 31, 2007 when they outbid
Brazil’s Companhia Siderurgica Nacional
(CSN) to acquire the Anglo-Dutch steel
firm Corus for an unexpected $12.1 billion
(approximately Rs.54,000 crore). This
acquisition makes the 100-year-old Tata
Steel the fifth largest steel producer in
the world (the largest is Lakshmi Mittal’s
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Mittal-Arcelor), with an annual output of
around 25 mil lion tonnes and 87,000
employees on its rolls.
This deal is the largest by an Indian firm
and the second largest in the global
steel industry – Lakshmi Mittal forged
the largest-ever deal worth $32.4 billion
in 2006 when his Mittal Steel acquired
Arcelor to create Arcelor-Mittal.
Though industry observers suggested
that the Tatas had paid too much by
paying 608 pence (Rs. 526) a share, 5
pence above the CSN offer, Tata Group
Chairman Mr. R atan Tata justified i t
saying that the acquisition of Corus,
which marks Tata Steel’s first expansion
outside Asia, was worth it. The deal has
lifted Tata Steel from the 56th to 5th
position in global steel production and
has tripled its capacity
approximately 8.7m tonnes. It also gives
Ta t a a c c e s s t o h i g h - va l u e E u r o p e a n
market where Tata can ride on the back
of this renowned brand. According to
industry experts, the acquisition cost is
about $710 per tonne whereas greenfield
would have cost about $1200 per tonne.
According to information appearing in the
media, of the $12 billion that the Tatas
have to raise to finance the deal, $4.1
billion will be pumped in as cash through
the equity route by Tata Steel. The rest
will be in the form of debt raised from
three banks, ABN Amro, Credit Suisse
(bankers of Corus) and Deutsche Bank.
Corus, created from the merger of British
Steel and Hoogovens, employs 47,300
people worldwide, including 24,000 in the
UK, at plants at Port Talbot, Scunthorpe
and Rotherham.

Indian IT majors top
Global Services 100 List
According to Global Services magazine,
which compiles the list of best IT and
BPO companies on the basis of an 18-
country survey, Indian firms topped the
2007 Global Services 100 List in the world
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with 36 making the grade. This
achievement marks a comeback of sorts
for Indian IT/BPO companies. In the 2006
list, only 26 Indian firms were named,
which was a sharp drop from the 2005
list having 40 Indian firms.
The US, which came second, has 32
companies in the list. However, over a
dozen US companies service their clients
mainly through BPO offices based in
India. Chinese firms presented their best
show with eight firms making it to the
100. Four Malaysian, three from Brazil
and two from Russia made to the list.
One Romanian and one Ukrainian firm
debuted on the list. There was proof of
world-beating individual firms emerging
outside India : Globant of Argentina was
selected the best emerging global service
from provider while the Neusoft Group of
China was declared the best emerging
Asian market.
The survey brought to the fore the very
strong bilateral IT/BPO relationship
between the US and India. The US is
expected to purchase about $1.55 trillion
in IT/BPO goods and services in 2007,
of which two-thirds will probably come
from India. In outsourcing, according to
PricewaterhouseCoopers, the global
market is worth $234 billion and the US
represents 59 percent of this market.
HIGHLIGHTS

Tata Consultancy Services was rated
No. 1 among the top 10 best
performing IT services providers.

Polaris Software Labs topped the list
of top 10 speciality application
development providers.
2007
Hinduja TMS was the best performing
call centre provider.

US-based Genpact was rated No. 1
in human capital development and
best performing BPO.

Patni Computers was adjudged the
best engineering services provider.




IC : PTpnsgk01
 SCIENCE UPDATES

NASA Launches Dawn Spacecraft
To Probe Asteroids
National Aeronautics and Space
Administration (NASA) launched its Dawn
spacecraft on September 27, 2007, to
explore two asteroids located in the
asteroid belt. The fundamental objective
of NASA’s ambitious space mission is to
shed light on the early solar system by
exploring the two largest bodies in the
belt between Mars and Jupiter: an
asteroid named Vesta and a dwarf planet
named Ceres.
Scientists chose the two targets not only
because of their size but because they
are so different from one another. Vesta,
not exactly spherical in shape, is dry and
rocky, and appears to have a surface of
frozen lava. It is where many of the
meteorites found on Earth came from.
Ceres, upgraded to a dwarf planet in
2006, is nearly spherical, icy and may
have frost-covered poles. Both formed
around the same time 4.5 billion years
ago.

Scientists Use Body Heat To
Generate Electricity
German scientists have developed a way
of harnessing heat from the body to
generate electricity. It was confirmed by
the Fraunhofer Institute for Integrated
Circuits on August 6, 2007. The method
uses the difference between the body’s
surface temperature and that of the
surrounding environment. The institute
said the energy produced this way can
be used to power medical equipments.
The system works on the principle of
thermo-electric generators-semi
conductor elements, which extract
electrical energy from the temperature
difference between a hot and cold
environment.
IC : PTpnsgk01

Journey To Mars Begins
A US space probe named Phoenix Mars
Lander was successfully launched on
August 4, 2007 from Cape Canaveral,
Florida, US, which began its nine-month
journey to Mars, where it will dig for
clues to past and present life. The
Lander’s assignment is to dig through the
Martian soil and ice in the arctic region
and use its onboard scientific instrument
to analyse the samples it retrieves. The
solar-powered Phoenix is equipped with
a 2.35 metre robotic arm that will enter
vertically into the soil. The craft is
scheduled to complete its 680 million km
journey to Mars on May 25, 2008.

Atlantis Returns Safely
Space shuttle Atlantis that carried
Indian-American astronaut Sunita
Williams along with six crew members
landed safely at Edwards Air Force Base
in California, USA on June 22, 2007 at
1.19 a.m. (IST). Sunita, who had set
off from Cape Canaveral on December
9, 2006 on space shutt le Discov ery,
made history by staying 195 days in
space, the longest by a woman. She
also set the world record for a female
astronaut on spacewalks, totalling 29
hours and 17 minutes.

Water Found On An Extrasolar
Planet
Scientists have reported the first
conclusive discovery of the presence of
water vapour in the atmosphere of a
planet beyond our Solar System. The
discovery was made by analysing the
transit of the gas giant HD189733b, 63
l ight-years away, in the constellation
Vulpecula, across its star in the infrared.
Instead of a rocky world like Earth,
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HD189733b is large, about 1.15 times
the mass of Jupiter. Located 4.5 million
km from its star, it orbits the star in 2.2
days. In comparison, Earth is 150 million
km from the Sun; even Mercury, the
innermost planet, is 70 million km away.
HD189733b’s atmospheric temperature is
about 1,000 Kelvin.

Satellite Launched For Nigeria
China launched a communication satellite
for Nigeria at Xichang on May 14, 2007,
a first for an African country and the
first time China provided both the
satellite and the launch service. The
Nigerian Communication Satellite, a
super-hybrid geo-stationary satellite will
provide communication service for Africa,
parts of the Middle East and southern
Europe. The long March 3-B carrier
rocket blasted off from Xichang Satellite
Launch Centre in Southwest China’s
Sichuan province.

Scientists Find Most Earth-like
Planet
A team of European astronomers
announced the discovery of the most
Earth-like planet on April 24, 2007. The
planet was discovered by the European
Southern Observatory in La Silla, Chile.
The planet, which is named 581C for the
red dwarf star Gliese 581 it orbits, is by
far the most habitable planet found
outside our solar system. The research
team has concluded that the average
temperature of the planet falls
somewhere between 32° and 104°
Fahrenheit. Although the planet orbits a
red dwarf star much closer to it in
comparison to the Earth, the tiny star
gives off a much dimmer red light and
lasts longer than our Sun.




Pearls of wisdom
“Our lives improve only when we take chances – and the first and most difficult risk we
can take is to be honest with ourselves.”
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However, astronomers believe that unlike
the Earth, the planet does not rotate
on an axis and circles Gliese 581 once
every 13 days. Because the planet does
not rotate, the side facing its sun would
always be bright. Besides having
appropriate temperatures, liquid water
probably exists in abundance on its
surface, according to discoverers.
The new planet is about five times
heavier than Earth, and gravity there
would be about 1.6 times stronger in
comparison to the Earth. Scientists have
theorised that the planet is rocky like
the Earth but the possibility exists that
it is a frozen “ice ball”, with liquid water
on its surface. However, either way it is
much larger in diameter than Earth. It is
20.5 light years away from Earth.
Planet 581C was discovered by a
telescope, which uses a special
instrument that splits light to find
wobbles in different wavelengths known
as Doppler Effect.

Gene To Stop Cancer Found
Chinese scientists have identified a gene
variant which appeared to protect people
from various types of cancer. In the
latest issue of the journal Nature
Genetics, the experts said that they had
studied the DNA of nearly 10,000
Chinese people over six and a half years
and had found that the gene variant
appeared far more frequently than those
who are cancer free. It is well known
that the gene Caspase-8 (CASP 8)
regulates cell death. Programmed cell
death is important because it prevented
cells from dividing and spreading
uncontrollably, a process that results in
c a n c e r.
– WALTER ANDERSON
IC : PTpnsgk01
 SPORTS UPDATES
ATHLETICS
Powell Creates New 100 Metre World
Record : Asafa Powell of Jamaica set
new world record in 100 metres, clocking
9.74 seconds in the heats of the Rieti
Grand Prix in Italy on September 9, 2007.
World Athletics Championships
2007 : The World Athletics
Championships were held in Osaka
(Japan) where Tyson Gay of USA won
the 100 m world title in 9.78 seconds on
August 26, 2007. Swedish Carolina Kluft
won a record third straight World
Heptathlon Gold medal.
BADMINTON
World Badminton Championship :
Chinese Lin Dan won the men’s singles
World Badminton Championship, beating
Indonesian Sony Dwi Kuncora 21-11, 22-
20 in Kuala Lumpur (Malaysia) on August
19, 2007. In women’s singles, Zhu Lin of
China defeated Wang Chen of Hong Kong
21-8, 21-12. The men’s doubles was won
by Indonesian pair Markis Kido and
Hendra Setiawan 21-19, 21-19 defeating
Korean pair of Jung Jae-Sung and Lee
Yong-Dae. In women’s doubles, Chinese
pair Yang Wei and Zhang Jiewen
defeated compatriot pair of Gao Ling and
Huang Sui by 21-16, 21-19. Nova
Widianto and Lilyana Natsir of Indonesia
defeated Zheng Bo and Gao Ling of China
of 21-16, 21-14 to win the mixed doubles
title.
BOXING
World Women’s Championship :
India emerged champion in the fourth
World Women’s Boxing Championship held
in New Delhi by claiming 4 Gold, 1 Silver
and 3 Bronze medals.
IC : PTpnsgk01
BILLIARDS & SNOOKER
Pankaj Advani Clinches IBSF Title :
Pankaj Advani of India registered victory
over compatriot Dhruv Sitwala 1963-1489
to clinch the IBSF World Billiards title
and received, the Arthur Walker Trophy
in Singapore on September 15, 2007.
CHESS
Anand Becomes World Chess
Champion : Viswanathan Anand of India
became World Chess Champion for the
second time after a gap of seven years
when he took a short draw against
Hungarian Peter Leko in the 14th and final
round in Mexico City on September 29,
2007. Earlier, he beat Armenian Levon
Aronian 2.5-1.5 in the best-of-four-games
final of the World Rapid Chess Championship
in Mainz (Germany) on August 19, 2007.
CRICKET
India Win Inaugural ICC World
Twenty20 : India lifted the inaugural
ICC Twenty20 Trophy defeating Pakistan
by 5 runs in the final at the Wanderers
in Johannesburg, South Africa on
September 24, 2007.
First Indian Wicket-keeper To
Record Six Dismissals In An ODI :
Mahendra Singh Dhoni became the first
Indian wicket-keeper to record six
dismissals in an ODI. Dhoni achieved this
rare feat in the 5th ODI against England
at Headingley on September 3, 2007.
Sachin Scores 11,000 Runs In Test
Cricket : Sachin Tendulkar, the Indian
cricketing legend, crossed the 11,000 runs
mark in Test cricket. He achieved this
formidable feat on July 29, 2007 during
the 2nd Test match played between India
and England at Trent Bridge, England.
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Muralitharan – Quickest To Take
700 Test Wickets : Sri Lankan off-spin
wizard Muttiah Muralitharan, playing in
his 113th match, became on July 14,
2007, the only second bowler in the
history of Test cricket to take 700 or
more wickets.
India Win Future Cup : Rahul Dravid
and his team won the Future Cup 2-1
after winning the third and final ODI
against South Africa in Belfast (Ireland)
on July 1, 2007.
Tendulkar Crosses
Milestone – 15,000 Runs In ODIs :
Master Blaster Sachin Tendulkar became
the first player to reach 15,000 runs in
One-Day cricket in the second ODI
against South Africa in Belfast (Ireland)
on June 29, 2007.
Biggest Ever Test Win For India :
India registered an innings and 239-run
v i c t o r y i n t h e s e c o n d a n d l a s t Test
against Bangladesh at the Sher-e-Bangla
Stadium in Dhaka (Bangladesh) on May
27, 2007, thus winning the two-Test
series 1-0.
Asia XI Win Afro-Asia Cup : Asia XI
defeated Africa XI by 13 runs in the
third and final ODI of the Afro-Asia Cup
series at Chennai on June 10, 2007,
thus wrapping up the series 3-0. M.S.
Dhoni was adjudged ‘Man of the Match’
while Mahela Jayawardene
presented the ‘Man of the Series’ award.
Kumble Joins 550 Test Wicket
Club : Anil Kumble, the Indian leg
spinner, has become the fourth bowler
in the history of international Test cricket
to claim over 550 wickets (566 wickets
in 118 Tests).
Australia Win ICC Cricket World Cup
2007 : Australia lifted the World Cup
2007 trophy for a record third successive
time after claiming a 53-run victory over
Sri Lanka in the final at Bridgetown
(Barbados) in Kingston Oval on April 28,
2007.
India Win ODI Series Against West
Indies : The Indian team captained by
Rahul Dravid defeated West Indies in
the final match at Vadodara (Gujarat)
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on January 31, 2007 to clinch the four-
match ODI series 3-1.
Mumbai Regains Ranji : M u m b a i
Captain Amol Muzumdar proudly lifted the
Ranji Trophy after defeating Bengal in the
final played in Mumbai on February 5,
2007. This was the 37th victory for the
home team in the history of Ranji Trophy.
FOOTBALL
Germany Win Women’s World Cup
Another Football Title : Germany defeated Brazil
2-0 to become the first nation to
successfully defend the Women’s World
Cup Football title in Shanghai on
September 30, 2007.
India Clinch Nehru Cup : The Indian
Football team clinched the ONGC Nehru
Cup tournament title in New Delhi on
August 29, 2007. The Indian team beat
Syria 1-0.
GOLF
Tiger Woods Wins World Bridge-
stone Invitational Golf
Championships : Tiger Woods of US
won the World Bridgestone Invitational
Golf Championships on August 5, 2007 to
become the first player in the US PGA
Tour history to claim two hat-trick wins
was
in the same event.
Jeev Milkha Singh – Asian Player
Of The Year : India’s ace golfer Jeev
Milkha Singh was named Asian Player of
the Year at Phuket (Thailand) on March
3, 2007 after a successful season where
he lifted four titles including Volvo China
Open and Volvo Masters besides the two
consecutive titles on the Japanese Tour.
He also topped the Asian Tour Order of
Merit.
HOCKEY
India Retains Asia Cup : India
defeated South Korea with an incredible
score of 7 goals to 2 in the final of the
Asia Cup 2007 played in Chennai (Tamil
Nadu) on September 9, 2007.
IC : PTpnsgk01
MISCELLANEOUS
33rd NATIONAL GAMES : (February
9 – 18, 2007) : The 33rd National
Games concluded with a grand ceremony
at the Indira Gandhi Athletic Stadium in
Guwahati (Assam) on February 18, 2007.
Prime Minister Dr. Manmohan Singh gave
away the championship trophy to
Services, the overall Champion with 59
Gold, 46 Silver and 37 Bronze medals.
TABLE TENNIS
World Table Tennis Championship :
The World Table Tennis Championship
finals were held in Zagreb on May 26,
2007.
Men’s Singles : Wang Liqin of China
beat his compatriot Ma Lin.
Women’s Singles : Guo Yue of China
beat Li Xiaoxia of China.
Men’s Doubles : Chen Qi and Ma Lin
(China) beat Wang Liqin and Wang Hao
(China).
Women’s Doubles : Wang Nan and
Zhang Yining (China) beat Guo Yue and
Li Xiaoxia (China).
Mixed Doubles : Wang Liqin and Guo
Yue of China beat Ma Lin and Wang Nan
of China.
TENNIS
Wimbledon 2007 : Men’s Singles :
Roger Federer of Switzerland defeated
Rafael Nadal of Spain to win the
Wimbledon men’s singles title, in London
(UK) on July 8, 2007.




Pearls of wisdom
“He who rejects change is the architect of decay. The only human institution which
rejects progress is the cemetery”
“One of the greatest discoveries a man makes, one of his great surprises is to find he can
do what he was afraid he couldn’t do.”
IC : PTpnsgk01
Women’s Singles : Venus Williams of
USA defeated Marion Bartoli of France,
to claim the title.
Men’s Doubles : French duo Arnaud
Clement and Michael Llodra defeated Bob
Bryan and Mike Bryan, both from USA.
Women’s Doubles : Cara Black of
Zimbabwe and Liezel Huber of South
Africa defeated Katarina Srebotnik of
Slovenia and Japan’s Ai Sugiyama.
Mixed Doubles : Jamie Murray of UK
and Jelena Jankovic of Serbia beat Jonas
Bjorkman of Sweden and Alicia Molik of
Australia.
US Open Championship 2007 : Men’s
Singles : World’s No. 1 tennis player
Roger Federer of Switzerland won his
fourth consecutive US Open men’s
singles title overwhelming Novak Djokovic
of Serbia 7-6, 7-6, 6-4 in the final in
New York (USA) on September 9, 2007.
Women’s Singles : Justine Henin of
Belgium won the US Open women’s
singles title defeating former champion
Svetlana Kuznetsova of Russia 6-1, 6-3
in the final on September 8, 2007. It
was the seventh Grand Slam of her
career.
Men’s Doubles : Simon Aspelin
(Sweden) and Julian Knowle (Austria)
defeated Lukas Dlouhy and Pavel Vizner
(both of Czech Republic).
Women’s Doubles : Nathalie Dechy of
France and Dinara Safina of Russia
defeated Chuang Chia-Jung and Chan
Yung-Jan (both of Taiwan).
Mixed Doubles : Max Mirnyi and Victoria
Azarenka (both of Belarus) beat Leander
Paes (India) and Meghann Shaughnessy
(USA).
– HAROLD WILSON
– HENRY FORD
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 AWARDS/PRIZES – NATIONAL
Dadasaheb Phalke Award : Veteran
film maker Shyam Benegal was honoured
with the Dadasaheb Phalke Award for
2005 in New Delhi on September 14,
2007 by the Hon’ble President
Ms. Pratibha Patil.
Filmfare Awards : Rang De Basanti
won the Award for Best Film at the 52nd
Filmfare Awards ceremony held in
Mumbai, Maharashtra on February 24,
2007. The list of winners is given below:
Best Film : Rang De Basanti
Best Director : Rakeysh Omprakash
Mehra (Rang De Basanti)
Best Actor : Hrithik Roshan (Dhoom 2)
Best Actress : Kajol (Fanaa)
Critic’s Award for Best Film : Lage Raho
Munnabhai
Critic’s Award for Best Actor : Aamir
Khan (Rang De Basanti)
Critic’s Award for Best Actress : Kareena
Kapoor (Omkara)
Best Actor in a Supporting Role : Abhishek
Bachchan (Kabhi Alvida Na Kehna)
Best Actress in a Supporting Role :
Konkona Sen Sharma (Omkara)
Best Actor in a Comic Role : Arshad
Warsi (Lage Raho Munnabhai)
Best Actor in a Villainous Role : Saif Ali
Khan (Omkara)
Best Playback Singer (Male) : Shaan,
Kailash Kher – ‘Chand Sifarish’ (Fanaa)
Best Playback Singer (Female) : Sunidhi
Chauhan – ‘Beedi Jalai Le’ (Omkara)
Best Music Award : A.R. Rahman (Rang
De Basanti)
Best Lyricist : Prasoon Joshi – Chand
Sifarish (Fanaa)
Best Debut : Kangana Ranaut
R.D. Burman Award : Naresh Iyer (Rang
De Basanti)
Lifetime Achievement Awards : Jaya
Bachchan and Javed Akhtar
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Gandhi International Peace Prize,
2006 : Noted Bollywood actress
Ms. Shabana Azmi has been awarded the
Gandhi International Peace Prize the
year 2006. The prestigious award is given
by the London-based Gandhi Foundation.
Indira Gandhi Award for National
Integration 2006 : The 22nd Indira
Gandhi Award for National Integration
for 2006 has been awarded jointly to
M r. J . S . B a n d u k w a l a a n d M r. R a m
Puniyani for promoting communal
harmony.
Jnanpith Award, 2004 : Eminent
Ka s h m i r i p o e t M r. R e h m a n Ra h i wa s
chosen for the Jnanpith Award for 2004.
Mr. Rahi, 82, is one of the most eminent
poets and critics of the Kashmiri
language. His notable creations include
Subhuk Soda, Kalami Rahi and Siyah Rode
Jaren Manz.
Khel Ratna Award 2006 for
Manavjit : Ace trap shooter Manavjit
Singh Sandhu was conferred the
prestigious Rajiv Gandhi Khel Ratna Award
for 2006 by Hon’ble President
Ms. Pratibha Patil on August 29, 2007 at
the Ashoka Hall in the Rashtrapati Bhawan
in New Delhi.
Lal Bahadur Shastri National Award :
Renowned agricultural scientist Dr. M.S.
Swaminathan has been chosen for the
Lal Bahadur Shastri National Award for
Excellence in Public Administration,
Academics and Management, 2006.
Dr. Swaminathan has been selected in
recognition of his pioneering work in the
field of agricultural research.
National Communal Harmony
Awards 2006 : Octogenarian social
activist from Assam Mr. Rabindra Nath
Upadhyay and Delhi-based Institute for
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Socialist Education were presented the
National Communal Harmony Awards for
2006 by the then President Dr. A.P.J.
Abdul Kalam in New Delhi on May 23, 2007.
National Film Awards 2005 : The
National Film Awards for 2005 were
announced on August 7, 2007. The delay
was due to court cases. The awardees
in different categories are :
Best Feature Film : Budhadeb Dasgupta’s
Kaalpurush
Best Non-Feature Film : Gaurav A. Jani’s
Riding Solo to the Top of The World
Indira Gandhi Award for the Best First
Film of a Director : Parineeta
Best Popular Film : Rang De Basanti
Best Actor : Amitabh Bachchan (Black)
Best Actress : Sarika (Parzania)
Best Direction : Rahul Dholakia (Parzania)
Best Audiography : Nakul Kamte for Rang
De Basanti
Best Editing : P. S. Bharathi for Rang De
Basanti
Best Playback Singer (Male) : Naresh
Iyer for Rang De Basanti
Best Playback Singer (Female) : Shreya
Ghoshal for Paheli
Nargis Dutt Award for Best Feature Film
on National Integration : Daivanamathil
(Malayalam)
Best Film on Family Welfare : Thavamai
Thavamiranthe (Tamil)
Best Film on Other Social Issues : Iqbal
Best Film on Environment Conservation/
Preservation : Kannada film Thutturi
Best Children’s Film : Blue Umbrella
Best Child Artist : Sai Kumar for
Bommalata – A Bellyful of Dreams
Best Supporting Actress : Urvashi for
Achhuvinte Amma (Malayalam)
Best Supporting Actor : Nasseeruddin
Shah for Iqbal
Best Cinematography : Madhu Ambat for
Sringaram (Tamil)
Best Screenplay : Prakash Jha, Sridhar
Raghavan and Manoj Tyagi for Apaharan
Best Art Direction : C.B. More for Taj
Mahal – An Eternal Love Story
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Best Costume Designer : Anna Singh (Taj
Mahal – An Eternal Love Story) and
Sabyasachi Mukherjee (Black)
Special Jury Award : Anupam Kher (Maine
Gandhi Ko Nahin Mara)
Best Music Direction : Lalgudi Jayaraman
for Sringaram (Tamil)
Best Lyrics : Barguru Ramachandrappa
(Thaayi) (Kannada)
Special Effects : Tata Elexi (Anniyan) (Tamil)
Best Choreography : Saroj Khan
(Sringaram) (Tamil)
Outstanding Parliamentarian
Awards : Hon’ble President Ms. Pratibha
Patil presented the Oustanding
Parliamentarian Awards to Union
Agriculture Minister Mr. Sharad Pawar
(2003), BJP leader Ms. Sushma Swaraj
(2004), Union Finance Minister Mr. P.
C h i d a m b a r a m ( 2 0 0 5 ) a n d M r. M a n i
Shankar Aiyar, Minister of Panchayati
Raj, Youth Affairs and Sports (2006) in
New Delhi on September 13, 2007.
Phalke Ratna Award : Bollywood
legend Dilip Kumar was conferred the
Phalke Ratna Award on April 30, 2007 in
Mumbai on the occasion of 138th birth
anniversary of Dada Saheb Phalke, the
father of Indian cinema.
Sahitya Akademi Awards : The
Sahitya Akademi selected two scholars –
Mr. Veturi Ananada Murty and Dr. Ham.
Pa. Nagarajaiah – for ‘Bhasha Samman-
2006’ for their contribution to classical
and medival literature.
Shanti Swarup Bhatnagar Prize : The
Council of Scientific and Industrial
Research (CSIR) announced the winners
of the Shanti Swarup Bhatnagar Prize to
11 scientists for their oustanding
contributions in various disciplines of
science in New Delhi on September 26,
2007. The list of awar dees included
Narayanaswamy Srinivasan, Pundi
Narasimham Rangarajan, Rama
G o v i n d a r a j a n , B . V. R a j a ra m a B h a t ,
Budaraju Srinivasa Murthy, A.Ajayaghosh
and Anil Bhardwaj.
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 AWARDS/PRIZES
INTERNATIONAL
Abel Prize : Mr. Srinivasa Varadhan, a
mathematician of Indian origin in the United
States was presented the prestigious Abel
Prize in Oslo on May 22, 2007 for his work
on Probabilities. The prize was created by
the Norwegian Government in 2002 to
mark the 200th anniversary of the birth
of the great Norwegian mathematician,
Niels Henrik Abel.
Annual Academy Awards 2007 : At
the 79th Annual Academy Awards
(popularly known as the Oscars)
ceremony held in Los Angeles (USA) on
February 25, 2007, The Departed won
the award for Best Motion Picture.
Following is the list of major winners :
Best Motion Picture of the Year : The
Departed
Best Director : Martin Scorsese (The
Departed)
Best Actor in a Leading Role : Forest
Whitaker (The Last King Of Scotland)
Best Actress in a Leading Role : Helen
Mirren (The Queen)
Best Actor in a Supporting Role : Alan
Arkin (Little Miss Sunshine)
Best Actress in a Supporting Role :
Jennifer Hudson (Dreamgirls)
Best Animated Feature Film of the Year
: Happy Feet
Best Foreign Language Film : The Lives
Of Others (Germany)
Annual Pulitzer Prizes : The 91st
annual Pulitzer Prizes in Journalism
were announced in New York on April 16,
2007. Following are the prominent winners :
Public Service : The Wall Street Journal
Investigative Reporting : The Wall Street
Journal
Breaking News : Oregonian
Investigative Journalism : Brett
Blackledge, Birmingham News
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Explanatory Journalism : Kenneth R.
Weiss, Usha Lee McFarl ing and Rick
Loomis, Los Angeles Times
Local Reporting : Debbie Cenziper, Miami
Herald
National Reporting : Charlie Savage,
Boston Globe
International Reporting : The Wall Street
Journal
Chinua Achebe awarded 2007 Man
Booker International Prize : Famous
Nigerian novelist Mr. Chinua Achebe was
awarded the ‘2007 Man Booker
International Prize’ for fiction in London
on June 13, 2007. Mr. Achebe is best
known for his first novel ‘Things Fall
Apart’. Most of Achebe’s work centres
on African society and politics.
Golden Palm Award : Romanian Director
Cristian Mungiu won the Golden Palm
Award in the Cannes Film Festival 2007
for his movie 4 Months, Three Weeks and
Two Days. The film is about a young
women seeking an illegal abortion during
Romania’s communist rule.
India Abroad Person of the Year
Awards, 2006 : The weekly India Abroad
presented the India Abroad Person of
t h e Ye a r A w a r d s i n N e w Yo r k o n
March 24, 2007. Ms. Indra Nooyi, CEO
and Chairperson-designate of Pepsi Co.,
was chosen as the Indian Abroad Person
o f t h e Ye a r 2 0 0 6 . M r. S w a d e s h
Chatterjee was presented the First
Community Leader Award 2006. Novelist
Salman Rushdie was chosen for the first
India Abroad Lifetime Achievement
Award for his stellar corpus of work,
and for his tireless encouragement to
young writers. Astronaut Sunita Williams,
who is currently orbiting the Earth, was
conferred the India Abroad Publisher’s
Award for Excellence.
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International Gandhi Award : The
Gandhi Memorial Leprosy Foundation of
Maharashtra has awarded its 10th
International Gandhi Award to Mr Yohei
Sasakawa, Chairman of the Nippon
Foundation and the World Health
Organization’s Goodwill Ambassador for
the Elimination of Leprosy on April 12, 2007
in Mumbai. At the award ceremony, Vice-
P r e s i d e n t M r. B h a i r o n S . S h e k h a w a t
handed a certificate to Mr. Sasakawa.
Nobel Prize 2007 : The list of Nobel
Prize winners for 2007 was announced
by Royal Swedish Academy in October
2 0 0 7. T h e d i s t i n g u i s h e d a w a rd e e s
associated with six different fields are
as follows :
Peace : The UN’s Intergovernmental
Panel on Climate Change (IPCC) and
former US Vice-President Mr. Al Gore.
Literature : Ms. Doris Lessing (UK)
Physics : Prof. Albert Fert (France) and
Prof. Peter Gruenberg (Germany) for a
discovery that has minimised the size of
hard disks in computers, iPods and other
devices.
Medicine : P ro f. M a r i o R . C a p e c c h i
(USA), Prof. Martin J. Evans (UK) and
P r o f. O l i v e r S m i t h i e s ( U SA ) fo r t h e




Pearls of wisdom
“Self-confidence is the first requisite to great undertakings”
“Ideals are like stars; you will not succeed in touching them with your hands, but like the
seafaring man on the occean desert of waters you choose them as your guides and following
them, you reach your destiny.”
“Concentration comes out of a combination of confidence and hunger.”
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creation of ‘designer mice’ to track the
roles of different genes in human
development and disease.
Chemistry : Prof. Gerhard Ertl for his
studies of chemical reactions on solid
surface, vital for understanding
questions related to the thinning of
ozone layer.
E c o n o m i c s : P r o f. L e o n i d H u r w i c z
(USA), Prof. Eric S. Maskin (USA) and
Prof. Roger B. Myerson (USA).
Ramon Magsaysay Award 2007 :
N o t e d m e d i a p e r s o n , M r. Pa l a g u m m i
Sainath of India has been honoured with
the prestigious Ramon Magsaysay award
for 2007 in recognition of his outstanding
contribution to the fields of journalism,
literature and the art of creative
communication. The other prominent
awardees are as follows :
Jovito R. Salonga (The Philippines) :
Government Service
Rev. Kim Sun-Tae (Korea) : Public Service
Mahabir Pun (Nepal) : Community
Leadership
Ta n g X i y a n g ( C h i n a ) : P e a c e &
International Understanding
Chung To (China) : Emergent Leadership
Chen Guangcheng (China) : Emergent
Leadership
– SAMUEL JOHNSON
– CARL SCHURZ
– ARNOLD PALMER
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 INDIAN ECONOMY DATA

Railways to establish agri-retail
chain
Putting into action the assertions of
Railway Minister Mr. Lalu Prasad to reach
out to the farming community and
provide them a platform for sale of their
products at the local level, the Railways
on October 4, 2007 began inviting
interested players to set up agriculture
r e t a i l c h a i n s a c r o s s t h e c o u n t r y.
According to the proposal, the Railways
would utilise the surplus land for
development of facilities as part of agri-
retail chain at non-metro stations to cash
in on the retail revolution sweeping
across the country. The Railways would
play a role of facilitator only and it would
limit itself to providing logistics at these
locations.

Government announces Rural
Job Scheme for entire country
The Union Government announced on
September 28, 2007 the extension of
the National Rural Employment
Guarantee Act (NREGA), which
guarantees 100 days of wage
employment to rural households, to all
districts in the country. The scheme was
started in February, 2006 in 200 most
backward districts having high Scheduled
Castes and Scheduled Tribes population
with an initial allocation of Rs. 11,500
crore. An additional 130 districts were
notified in 2007-08 and the budgetary
allocation went up to Rs. 12,000 crore.

Centre to import wheat
An Empowered Group of Ministers (EGoM)
approved on September 3, 2007, the
Centre’s plan to import 7.95 lakh tonnes
of wheat at a weighted average price of
$389.45 per tonne (about Rs. 16 a kg),
as against Rs. 8.50 a kg minimum support
price paid to domestic farmers for wheat
bought from them for the Public
Distribution System (PDS).
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New Farm Schemes introduced
The Cabinet Committee on Economic
Affairs (CCEA) approved two major
schemes on August 16, 2007. These
schemes include Additional Central
Assistance (ACA) scheme and the
National Food Security Mission (NFSM)
for wheat, rice and pulses. The aim is to
accelerate agricultural growth. The total
outlay is more than Rs. 29,800 crore.
Under the Additional Central
Assistance (ACA) scheme, an outlay of
Rs. 1,500 crore has been approved for
the current fiscal. Also, Rs. 25,000
crore has been allocated for the Eleventh
Five-Year Plan.

New export restrictions
The Ministry of External Affairs and the
Ministry of Chemicals & Fertilisers have
decided to introduce a mechanism that
would prevent dual use chemicals
reaching chemical & biological weapon
makers on August 6, 2007. However,
legitimate trade has been allowed. There
will be greater scrutiny of the export of
24 products known as the Australia group
chemicals. The Australia Group, an
association of countries, has identified
63 items as chemical weapons precursors
that require strict licensing norms.

RBI releases “The
Macroeconomic And Monetary
Developments: First Quarter
Review 2007-08”
The Reserve Bank of India said in a
report released on July 30, 2007, that
the manufacturing sector continues to
drive the Indian economy, despite the
fact that growth has moderated in civil
aviation and mobile phone sectors.
“The Macro-economic and Monetary
Developments: First Quarter Review”
2007-08” was released on July 30, 2007.
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The report stated that manufacturing
sector expanded by 12.7 percent during
the April-May period, emerging as a key
driver for conspicuous growth in industrial
production, which stood at 11.7 percent.
Sectors like machinery and equipment, food
products, basic metal and alloy industries
and chemicals and chemical products were
the salient contributors to the
manufacturing sector’s healthy
performance.

First Natural Resource Data
Centre in Kolkata
India is set to have its first Natural
Resource Data centre. National Bank for
Agricultural and Rural Development
(NABARD) is setting up the Natural
Resource Management Centre in Kolkata.
The aim of this centre is to promote
sustainable use of land, water and
biomass. It will also prepare a database
on the country’s natural resources and
use such data for research on research
management. The project was mooted in
the 1980s. NABARD acquired 1 acre at
Salt Lake’s sector 5 from the West Bengal
Government in 1988.
This centre will be an autonomous body
set up under the India Trust Act. A
governing body headed by the NABARD
managing director will run the centre.
There will be representatives from both
the State and Union Government in the
governing body.

Housing Price Index launched
The National Housing Bank, the
government’s apex housing refinance
institution, has launched India’s first
housing price index. Called the NHB
RESIDEX, this index will tract fluctuations
in the property market and collect data
on the parallel black economy. Such data
will be the basis for policy decisions like
rationalisation of stamp duty, capital
gains tax, municipal tax and
determination of mortgage rates. A pilot
index had been developed earlier for
five cities – Delhi, Bangalore, Bhopal,
Kolkata and Mumbai – for 5 years from
2001 to 2005.
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BEL, HAL, PFC receive Navratna
Status
Three PSEs (Public Sector Enterprises) :
Bharat Electronics Limited (BEL),
Hindustan Aeronautics Limited (HAL) and
Power Finance Corporation (PFC), were
conferred Navratna Status in a function
held under the aegis of the Finance
Ministry in New Delhi on June 22, 2007.
Union Finance Minister M r. P.
Chidambaram asked unlisted PSEs to tap
stock markets to realise their true
potential, while addressing the function.
Besides conferring Navratna status to
the three PSEs, Mr. Chidambaram also
released the ‘guidelines on corporate
g o v e r n a n c e f o r C P S E s ’. T h e o t h e r
companies that have been conferred
Navratna status before are Bharat
Heavy Electricals Limited (BHEL), Bharat
Petroleum Corporation Limited (BPCL),
Gas Authority of India Limited (GAIL),
Hindustan Petroleum Corporation Limited
(HPCL), Indian Oil Corporation (IOC),
Mahanagar Telephone Nigam Limited
(MTNL), National Thermal Power
Corporation (NTPC), Oil & Natural Gas
Corporation (ONGC) and Steel Authority
of India Limited (SAIL).

Prime Minister unveils
Rs. 25,000 crore agriculture
package
P r i m e M i n i s t e r D r. M a n m o h a n S i n g h
announced a Rs. 25,000 crore plan at
the 53rd National Development Council
(NDC) meeting at Vigyan Bhavan in New
Delhi on May 29, 2007 to boost the
country’s farm sector. The plan is based
on the peruse of states coming up with
localised solutions for problems in their
farm sector. The Prime Minister said
that the government would take steps
to launch a food security mission in the
coming months, in order to reduce the
country’s dependence on import of basic
commodities such as rice and wheat.
Moreover, the government also intends
to provide additional resources for
irrigation under the Accelerated
Irrigation Benefits Programme. The NDC
sought a resolution selling a target to
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raise wheat production by 8 million
tonnes, rice by 10 million tonnes and
pulses by 2 million tonnes over the next
four years. The special objective of the
11th Five- Year Plan is to raise the
existing 2 percent growth in agriculture
and allied activities to 4 percent by
2012. The Prime Minister also
announced that steps to restructure
the present urea-specific fertiliser
subsidy programme would be under-
taken.

India signs BIPA with Mexico
India signed a bilateral investment
protection agreement (BIPA) with Mexico
on May 21, 2007. This is the first such
agreement with a member of the North
A m e r i c a n F r e e Tra d e A g r e e m e n t
(NAFTA). Other NAFTA members are the
US and Canada. The agreement has been
s i g n e d b y F i n a n c e M i n i s t e r, M r. P.
Chidambaram and visiting Mexican
Finance Minister Mr. M. Eduardo Sojo
Garza-Aldape. The North American trade
bloc was created by the North American
Free Trade Agreement signed on January
1, 1994. The grouping initially instituted
a schedule for phasing out tariffs to
encourage free trade between the three
North American countries. In the recent
days, it has become a powerful trade
body with strong trading relations with
European, African and Latin American
markets. Mexico offers excellent
opportunity for India to go for enhanced
market access through investments and
joint ventures. The significance of a
sound trade relation between India and
Mexico can be ascertained for the total
trade level that has crossed $1.5 billion
mark in 2006 from $251 million in 1999.
Important sectors with strong Indian
exports are engineering goods, chemicals
and pharmaceuticals, gems and jewellery
and textiles; while, Mexican exports to
India are dominated by crude and petro-
chemicals.

India joins Trillion Dollar Club
India has joined the elite club of 12
countries with a trillion dollar economy,
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due to the continuing rally in the rupee
against the US dollar. The country’s GDP
crossed the trillion-dollar mark for the
first time in history when the rupee
appreciated to below the 41-level against
the US greenback on April 25, 2007, the
Swiss investment bank, Credit Suisse,
said in a report.
Countries like the US, Japan, Germany,
China, the UK, France, Italy, Spain,
Canada, Brazil and Russia have all
breached the trillion dollar GDP level in
the past.
The bank put the country’s GDP at
around Rs. 41,00,000 crore, which
translates to slightly more than one
trillion dollar at the current currency level
o f R s . 4 0 .7 6 a d o l l a r. B e s i d e s , t h e
country’s stock market capitalisation has
risen to $944 billion, which is also closing
fast on the trillion dollar level, it added.
The rupee has gained close to 13
percent since moving past 47 a dollar in
July-August in 2006. Before the rally
began about a month ago when the
rupee was hovering at 45 to a dollar,
the country’s GDP was estimated at
around $900 billion.
India’s emergence as a trillion dollar
economy also bodes well for the
country’s stock market, as the Credit
Suisse report said that stock markets in
eight out of ten countries had risen in
the one year after their economies first
crossed this mark. Indian stock market
has risen by about 15 percent from its
early April 2007 low on good quarterly
results and a central bank decision to
leave interest rates unchanged at its
policy review.

India, UAE amend DTAA
With a view to boosting bilateral trade
and economic ties, India and the United
Arab Emirates (UAE) on March 26, 2007,
revised their agreement on Double
Taxation Avoidance Agreement (DTAA)
and signed a pact for the exchange of
information between the stock exchange
regulators in the two countries.
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The agreements were signed after talks
between Prime Minister Dr. Manmohan
Singh and the visiting Vice-President of
UAE, Sheikh Mohammed Bin Rashid Al
Makhtoum.
To update their 1992 Agr eement on
Double Ta x a t i o n Avoidance and
Prevention of Fiscal Evasion with respect
t o Taxe s o n I n c o m e , t h e t w o s i d e s
signed a protocol. An MoU was signed
between Emirates Security and
Commodities Authority and SEBI for
assistance and mutual cooperation on
exchange of information.
A Framework Agreement on development
of industrial relations, which is aimed at
increasing collaborations in different
fields, was also signed. An MoU between
Bureau of Indian Standards (BIS) and
Emirates Authority for Standardisation
and Metrology was also signed.
The two countries identified areas for
enhancing cooperation on priority basis.
These include pharmaceuticals, energy
and two-way investment.

India : Seventh largest steel
producer
Minister of State for Steel, Mr. Akhilesh
Das, quoting Brussels-based
International Iron and Steel Institute
(IISI)’s study, said on March 12, 2007,
that India’s steel production ranked
seventh in 2006, up from ninth in 2004.
Mr. Das said that India produced 44
million tonnes of crude steel in 2006,
7. 6 p e r c e n t m o re t h a n 4 0 . 9 m i l l i o n
tonnes in 2005.
According to IISI, China continued to
hold the lead position with an annual
production of 418.8 million tonnes of
crude steel, followed by Japan (116.2
million tonnes), the United States (98.5
million tonnes) and Russia (70.6 million
tonnes). The Asian region produced 53.7
percent of the total crude steel
production in the world in 2006.
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India receives first major FDI in
Refining
Hindustan Petroleum Corporation Ltd.
(HPCL), a state-owned oil company, has
joined hands with L.N. Mittal’s
Luxemburg-based Mittal Investments to
execute the Rs. 15,700 crore under
construction Bathinda Refinery Project
in Punjab. This is the first major FDI in
the oil refining sector. According to
reports that appeared in the third week
o f F e b r u a r y 2 0 0 7, t h e H P C L B o a rd
approved the agreement which allows
HPCL and Mittal Investments to hold a
49 percent stake each in the project
and the remaining 2 percent will be
allocated to financial institutions with the
consent of both the parties. The 9 million
tonnes per annum project will be
completed in 48 months and will have
the capacity to produce 100 percent
high sulphur and heavy crude.
According to information appearing in the
media, the state-run Oil India (OIL) may
join the project in future and get 10-15
percent equity share, leaving HPCL with
a lower stake. The project, which is
expected to be commissioned by 2011,
has already been granted all statutory
and regulatory approvals, including
environmental clearance. The project is
expected to create a large number of
employment opportunities and provide
impetus to industrial activities in Punjab.

Auto Mission Plan 2006-2016
released
Auto Mission Plan (AMP) 2006-2016 was
r e l e a s e d b y t h e P r i m e M i n i s t e r, D r.
Manmohan Singh, on January 29, 2007
in New Delhi. The plan envisages an
investment of $40 billion and would strive
to transform India into a global
automobile player in the next ten years.
The plan also proposes a 25-point
programme to help India emerge a
manufacturing and export centre for
automobiles.
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Speaking to mediapersons on the
occasion, the Union Minister for Heavy
Industries and Public Enterprises, Mr.
S a n t o s h M o h a n D e v, s a i d t h a t t h e
turnover of the automobile industry, as
projected in the plan document, would
increase to $145 billion by 2016 from
the current $35 billion, accounting for
10 percent of the GDP. The Minister
added that the export of the automobile
sector will have to increase to a minimum
of $35 billion from the present level of
$4.1 billion if India has to emerge a
global player. He also said that by 2010,
the industry should provide employment
to about 25 million people.
The AMP, which has been prepared with
cooperation and participation of the




(78) of (202)
industry, envisages the formation of a
monitoring committee under the
chairmanship of the Secretary, Ministry
of Heavy Industries and Public
Enterprises and will have representatives
from several ministries including finance,
road, transport, environment,
commerce, shipping, railways, petroleum
and natural gas and human resources
development.
The plan has been hailed by the
automobile industry, which is of the
viewpoint that this plan would provide
the much-needed direction for this
i n d u s t r y. T h e i n d u s t r y h a s g a i n e d
importance because manufacturing base
is shifting from developed countries to
emerging economies like India.
IC : PTpnsgk01
 BUSINESS & ECONOMY - MISC.

India initiated the largest number
(16) of fresh anti-dumping
investigations and final measures
while there has been a sharp drop
worldwide in the number of new
probes during January and June
2007, a World Trade Organisation
report stated on Nov. 5.

Washington-based International Food
Policy Research Institute in its latest
report entitled, "The World's Most
Deprived: Characteristics and
Causes of Extreme Poverty and
Hunger" has ranked India at 96th
place among 119 developing
countries in its Global Hunger Index
(GHI) on Nov 7, 2007.

Planning Commission in its meeting
held on Nov 8, 2007 under the
Chairmanship of Prime Minister Dr.
Manmohan Singh cleared the draft
of the 11th Plan (2007-12) that
seeks to step up economic growth
rate to 9%. The total outlay of the
11th Plan has been placed at Rs.
3644718 crore which is more than
double of the total outlay of the
previous 10th Plan.

A c c o r d i n g t o t h e 'World Energy
Outlook 2007' report published by
IEA on Nov. 8, India is set to become
the world's third largest oil importer
after the US and China before 2025,
according to the International Energy
Agency (IEA).

The Union Government on Nov. 16
withdrew the 'export licence'
restriction for overseas sale of onion
as the prices of commodity have
started to soften in domestic market.
The Director General of Foreign
Trade notified that the export of
onions could be undertaken after
getting the no-objection certificate
from NAFED and 12 other State
Trading Agencies (STEs).
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Government approved 22 Foreign
Direct Investment (FDI)
proposals entailing in inflow of Rs
5115 crore, including that of World
Bank's private sector arm IFC and
global private equity player Goldman
Sachs.

India signed a Double Taxation
A v o i d a n c e A g r e e m e n t ( DTA A )
with the Government of Iceland on
Nov 23, 2007 for the avoidance of
double taxation and for the
prevention of fiscal evasion with
respect to taxes on income.

The Centre raised Rs. 51,600 crore
from disinvestment of equity in
the Central Public Sector Enterprises
(CPSEs) and strategic sale of State-
owned companies since the inception
of the policy in 1991. "The total
realisation from the strategic sale
transactions was Rs. 6,344.35 crore,
which is around one-tenth of the total
amount of Rs 51,608.8 crore, raised
from disinvestment till July 31, 2007,"
said the White Paper on
Disinvestment of CPSEs tabled in the
Parliament on Nov. 23.

State governments approved the
introduction of a nationwide dual
Goods and Service Tax (GST) from
April 1, 2010 on Nov 28, 2007.

The Trade and Development
Index (TDI) of In UNCTAD ranked
India at 86th place, up two ranks
from its year ago position of 88,
among 123 countries included in the
index list.

The Union Government launched on
Nov. 29 a fresh package of interest
subsidy and reimbursement of some
costs to help exporters struggling
after a 15 per cent rise in the
rupee against the US dollar over
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 the 2006. Customs duty on polyester
and other man-made fibres and their
intermediate products have been
reduced to five per cent. The post-
subsidy interest cannot exceed
seven per cent, the rate for priority
lending.

Official data released by the Central
Statistical Organisation (CSO) on
Nov. 30, showed that the GDP grew
by 8.9 per cent during the three
months ended September, down from
the previous quarter's 9.3 per cent.

According to the survey conducted
by World Economic Forum, India
has been ranked 48th in the Global
Competitiveness Index 2007-08
behind China (34th rank) but ahead
of Russia (58th rank) and Brazil (72nd
rank) in the survey that covered 131
countries. The United States has
been ranked as the world's most
competitive economy.

The Union Government on Dec. 4
approved 16 Foreign Direct
Investment (FDI) proposals, including
that of Russia telecom firm Sistema
and Italian fashion retailer Dolce &
Gobbana, envisaging a total inflow
of Rs. 647.48 crore.

Ratan Tata, Chairman of the Tata
Group on Jan 10, 2008 unveiled his
much awaited Rs. 1 lakh Car 'NANO'




Pearls of wisdom
“Earnestness is enthusiasm tempered by the reason”
“Nothing ever comes to one, that is worth having, except as a result of hard work”
“Courage is doing what you’re afraid to do. There can be no courage unless you’re scared”
(80) of (202)
in the 9th Auto Expo 2008. The price
of the car is expected to be Rs.
1.27 lakh and Rs. 1.30 lakh after
taking into account transportation
costs as well as 12.5 per cent VAT.

The Minister for Civil Aviation, Praful
Patel l a u n c h e d t h e I n t e r n a t i o n a l
Exhibition and Conference on Civil
Aviation 'India Aviation 2008' in
Hyderabad on Jan 11, 2008. The
Minister also announced that the Year
2008 would be celebrated as the
'Year for Helicopters'.

India and China are the two fastest
growing major economies of the world
and are also hot investment
destinations globally but US-based
Heritage Foundation places them
low in a list of nations in terms of
their Economic Freedom. India has
been ranked at 115th while China is
placed at 126th rank in the list of
165 countries. Hong Kong tops the
list in economic freedom index
followed by Singapore, Ireland,
Australia and New Zealand.

The Union Cabinet on January 30,
2008 decided to extend by six
m o n t h s t h e t e r m o f t h e Second
Administrative Reforms
Commission headed by Veerappa
M o i ly. I t w i l l n o w h av e t i m e t il l
September 30, to submit its report.
– PASCAL
– BOOKER T. WASHINGTON
– EDDIE RICKENBACKER
IC : PTpnsgk01
 LATEST WHO’S WHO
INDIA
UNION GOVERNMENT
Ms. Pratibha Devisingh Patil : President
Mohammad Hamid Ansari : Vice-President

COUNCIL OF MINISTERS
CABINET MINISTERS
Dr. Manmohan Singh : Prime Minister; in charge of Ministry of Personnel, Public
Grievances & Pensions; Planning; Atomic Energy; Space and other Ministries/Departments
that are not specifically allocated to the charge of any Minister.

Mr. A.K. Antony : Defence

Mr. Pranab Mukherjee : External Affairs
Mr. Arjun Singh : Human Resource Development
Mr. Sharad Pawar : Agriculture; Food & Public Distribution,
Consumer Affairs
Mr. Lalu Prasad : Railways
Mr. Shivraj V. Patil : Home Affairs
Mr. Ram Vilas Paswan : Chemicals & Fertilizers; Steel
Mr. S. Jaipal Reddy : Urban Development
Mr. Sis Ram Ola : Mines
Mr. P. Chidambaram : Finance
Mr. Mahavir Prasad : Small Scale Industries, Agro & Rural
Industries
Mr. P. R. Kyndiah : Tribal Affairs
Mr. T. R. Baalu : Road Transport & Highways; Shipping
Mr. Shankarsinh Vaghela : Textiles
Mr. Kamal Nath : Commerce & Industry
Mr. H. R. Bhardwaj : Law & Justice
Mr. Raghuvansh Prasad Singh : Rural Development
Mr. Priyaranjan Dasmunsi : Information & Broadcasting;
Parliamentary Affairs
Mr. Mani Shankar Aiyar : Youth Affairs and Sports; Panchayati Raj;
Development of North-Eastern Region
Ms. Meira Kumar : Social Justice & Empowerment
Mr. A. Raja : Communications & Information
IC : PTpnsgk01 (81) of (202)

Dr. Anbumani Ramadoss :
Mr. Sushil Kumar Shinde :
Mr. Murli Deora :
Mr. A. R. Antulay :
Mr. Vayalar Ravi :
Ms. Ambika Soni :
Mr. Saifuddin Soz :
Mr. Santosh Mohan Dev :
Mr. Prem Chand Gupta :
Mr. Kapil Sibal :
Technology
Health & Family Welfare
Power
Petroleum and Natural Gas
Minority Affairs
Overseas Indian Affairs
Tourism & Culture
Water Resources
Heavy Industries & Public Enterprises
Company Affairs
Science & Technology; Earth Sciences

MINISTERS OF STATE
Ms. V. Radhika Selvi : Home Affairs
Mr. E. Ahammed : External Affairs
Mr. Suresh Pachauri : Personnel, Public Grievances and
Pensions; Parliamentary Affairs
Mr. B. K. Handique : Chemical and Fertilisers; Parliamentary
Affairs
Ms. Panabaka Lakshmi : Health & Family Welfare
Dr. Dasari Narayana Rao : Coal
Dr. Shakeel Ahmad : Communications & Information
Technology
Mr. Rao Inderjit Singh : Defence
Mr. Naranbhai Rathwa : Railways
Mr. K. H. Muniappa : Shipping, Road Transport & Highways
Mr. M. V. Rajasekharan : Planning
Mr. Kantilal Bhuria : Agriculture; Food & Public Distribution,
Consumer Affairs
Mr. Manikrao Gavit : Home Affairs
Mr. Shriprakash Jaiswal : Home Affairs
Mr. Prithviraj Chavan : Prime Minister’s Office
Mr. Taslimuddin : Agriculture; Food & Public Distribution,
Consumer Affairs
Ms. Suryakanta Patil : Rural Development; Parliamentary Affairs
Mr. Md. Ali Ashraf Fatmi : HRD
Mr. R. Velu : Railways
Mr. S. S. Palanimanickam : Finance (Revenue Deptt.)
Mr. S. Regupathy : Environment & Forests
Mr. K. Venkatapathy : Law & Justice

(82) of (202) IC : PTpnsgk01

Ms. Subbulakshmi Jagadeesan :
Mr. E.V.K.S. Elangovan :
Ms. Kanti Singh :
Mr. Namo Narain Meena :
Dr. Akhilesh Prasad Singh :
Mr. Pawan Kumar Bansal :
Mr. Anand Sharma :
Mr. Ajay Maken :
Mr. Akhilesh Das :
Mr. M. M. Pallam Raju :
Mr. Chandrasekhar Sahu :
Mr. Ashwani Kumar :
Ms. D. Purandeshwari :
Mr. Dinsha J. Patel :
Dr. T. Subbarami Reddy :
Mr. Jairam Ramesh :
Mr. Jaiprakash Narayan Yadav :
Malavalli H. Ambareesh :
CHIEFS OF ARMED FORCES
Supreme Commander :
Chief of the Army Staff :
Chief of the Naval Staff :
Chief of the Air Staff :
Commander-in-Chief,
Strategic Forces Command :
Chief of Integrated Defence Staff :
JUDICIARY
Mr. K. G. Balakrishnan :
Mr. Milon Kumar Banerjee :
Mr. Justice Ashok Agarwal :
Mr. Goolam E. Vahanvati :
Mr. Vikas Singh :
Mr. Gopal Subramaniam :
IC : PTpnsgk01
Social Justice & Empowerment
Textiles
Heavy Industries & Public Enterprises
Environment & Forests
Agriculture, Food & Public Distribution,
Consumer Affairs
Finance
External Affairs
Urban Development
Steel
Defence
Rural Development
Dept. of Industrial Policy and Promotion,
Commerce & Industry
Human Resource Development
Petroleum & Natural Gas
Mines
Dept. of Commerce (Ministry of Commerce
and Industry)
Water Resources
Information & Broadcasting
President Ms. Pratibha Devisingh Patil
General Deepak Kapoor
Admiral Sureesh Mehta
Air Chief Marshal Fali H. Major
Vice-Admiral Vijay Shankar
Vice-Admiral Raman Puri
Chief Justice of India
Attorney General of India
Chairman, Central Administrative Tribunal
(CAT)
Solicitor-General of India
Additional Solicitor-General of India
Additional Solicitor-General of India
(83) of (202)
CAPITALS, GOVERNORS AND CHIEF MINISTERS OF STATES
States Capitals Governors Chief Ministers
Andhra Pradesh Hyderabad Mr. N.D. Tiwari Dr.Y. S. Rajasekhar
Reddy
Arunachal Pradesh Itanagar Mr.K.Sankaranarayanan Mr. Dorjee Khandu
Assam Dispur Lt. Gen.(Retd.) Mr. Tarun Gogoi
Ajit Singh
Bihar Patna Mr. R.K. Gavai Mr. Nitish Kumar
Chhattisgarh Raipur Mr. E.S.L. Narasimhan Dr. Raman Singh
Goa Panaji Mr. S. C. Jameer Mr. Digambar V. Kamat
Gujarat Gandhinagar Mr. Navalkishore Mr.Narendra Modi
Sharma
Haryana Chandigarh Dr. A. R. Kidwai Mr.Bhupinder S. Hooda
Himachal Pradesh Shimla Mr. Just.(Retd.) Mr.Virbhadra Singh
V.S.Kokje
Jammu and Srinagar(Summer) Lt. Gen. (Retd.) Mr. Gulam Nabi Azad
Kashmir Jammu (Winter) S. K. Sinha
Jharkhand Ranchi Mr. Syed Sibtey Razi Mr. Madhu Koda
Karnataka Bengaluru Mr. Rameshwar Thakur President’s Rule
Kerala Trivandrum Mr. R. L. Bhatia Mr.V. S. Achuthanandan
Madhya Pradesh Bhopal Mr. Balram Jhakar Mr.Shivraj S Chauhan
Maharashtra Mumbai Mr. S. M. Krishna Mr. Vilasrao Deshmukh
Manipur Imphal Mr. Shivinder S Sidhu Mr. Okram Ibobi Singh
Meghalaya Shillong Mr. B. L. Joshi Mr. D.D. Lapang
Mizoram Aizawl Lt. Gen. (Retd.) Mr. Zoramthanga
M. M. Lakhera
Nagaland Kohima Mr. K. Sankaranarayan Mr. Neiphiu Rio
Orissa Bhubaneswar Mr. M.C. Bhandare Mr. Naveen Patnaik
Punjab Chandigarh Gen. (Retd.) Mr. Parkash Singh Badal
S. F. Rodrigues
Rajasthan Jaipur Mr. Shilendra Kumar Ms. Vasundhara Raje
Singh
Sikkim Gangtok Mr. Sudharshan Mr. Pawan Chamling
Agarwal
Tamil Nadu Chennai Mr. S. S. Barnala Mr. M. Karunanidhi
Tripura Agartala Mr. Dinesh Nandan Mr. Manik Sarkar
Sahaya
Uttarakhand Dehradun Mr. B.L. Joshi Maj. Gen. (Retd.) B.C.
Khanduri
Uttar Pradesh Lucknow Mr. T. V. Rajeshwar Ms. Mayawati
Rao
West Bengal Kolkata Mr. Gopal Krishna Mr.B uddhadeb
Gandhi Bhattacharjee
(84) of (202) IC : PTpnsgk01
 CAPITAL, LT. GOVERNOR AND CHIEF MINISTER OF NATIONAL CAPITAL
TERRITORY
Nat. Cap.Territory Capital Lt. Governor Chief Minister
Delhi Delhi Mr. B. L. Joshi Ms. Sheila Dikshit

CAPITALS, LT. GOVERNORS/ADMINISTRATORS AND CHIEF MINISTERS

OF UNION TERRITORIES

Union Territories Capitals Lt. Gover./Admins. Chief Ministers

Andaman and Port Blair Lt. Gen. (Retd.) —

Nicobar Islands Bhopinder Singh
Chandigarh Chandigarh Gen. (Retd.) —
S. F. Rodrigues
Dadra and Nagar Silvassa Mr. Rajni Kant Verma —
Haveli
Daman and Diu Daman Mr. Rajni Kant Verma —
Lakshadweep Kavaratti Mr. Parimal Rai —
Pondicherry Pondicherry Mr. Mukut Mithi Mr. N. Rangaswamy

IC : PTpnsgk01 (85) of (202)

 HEADS OF IMPORTANT OFFICES
INDIA
Mohammad Hamid Ansari : Chairman,
Rajya Sabha.
Mr. K. Rahman Khan : Deputy Chairman,
Rajya Sabha.
Mr. Somnath Chatterjee : Speaker, Lok
Sabha.
Mr. Charanjit Singh Atwal : Deputy
Speaker, Lok Sabha.
Dr. Manmohan Singh : Chairman,
Planning Commission.
Dr. Montek Singh Ahluwalia : Deputy
Chairman, Planning Commission.
Mr. A. B. Vajpayee : Chairman, BJP
Parliamentary Party.
Mr. L. K. Advani : Leader of Opposition
(Lok Sabha).
Mr. Jaswant Singh : Leader of Opposition
(Rajya Sabha).
Mr. N. Gopalaswamy : Chief Election
Commissioner.
Mr. Navin B. Chawla : Election
Commissioner.
Mr. S.Y. Quraishi : Election Commissioner.
Mr. V. N. Kaul : Comptroller and Auditor-
General of India.
Mr. K.M. Chandrasekhar : Cabinet
S ecretary.
Mr. T. K. A. Nair : Principal Secretary to
Prime Minister.
Mr. Kamal Pande : Secretary, Inter-
State Council.
Mr. Justice S. Ratnavel Pandian :
Chairman, National Commission for
Backward Classes.
Ms. Shanta Sinha : Chairperson,
National Commission for Protection
of Child Rights
Dr. Buta Singh : Chairman, National
Commission for Scheduled Castes
Mr. Kunwar Singh : Chairman, National
Commission for Scheduled Tribes.
(86) of (202)
Mr. Gurbachan Jagat : Chairman, UPSC.
Dr. M. S. Swaminathan : Chairman,
National Commission on Farmers.
Mr. M. K. Narayanan : National Security
Adviser and Special Adviser to PM
(Internal Security).
Mr. J. P. Batra : Chairman, Railway Board.
Mr. Vivek Kumar Agnihotri : Secretary-
General, Rajya Sabha
Mr. P.D.T. Achary : Secretary-General,
Lok Sabha.
Mr. P.C. Haldar : Director, IB.
Mr. Vijay Shankar : Director, CBI.
Mr. A s h o k C h a t u r v e d i : D i r e c t o r,
Research and Analysis Wing.
Mr. S.I.S. Ahmed : Director-General,
CRPF.
Mr. Ashish Kumar Mitra : Director-
General,Border Security Force (BSF).
Mr. Ranjeet Kumar Das : D i r e c t o r -
General, Central Industrial Security
Force (CISF).
Mr. A. K. Suri : Director-General, Railway
Protection Force.
Mr. V. K. Joshi : Director-General, Indo-
Tibetan Border Police.
Mr. Gopal Sharma : Director-General,
Sashastra Seema Bal.
Vice-Admiral Rustom Faramroze
Contractor : Director-General,
Coast Guard.
Lt. Gen. Avtar Singh : Director-General,
Defence Intelligence Agency.
Mr. Sukhadeo Thorat : Chairman, UGC.
Dr. R. Chidambaram : Principal Scientific
Adviser to the Government.
Mr. M. Natarajan : Scientific Adviser to
D e fe n c e M i n i s t e r a n d S e c r e t a r y,
Defence Research & Development
Organisation.
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Mr. G. Madhavan Nair : Chairman, Space
Commission and ISRO.
Mr. Anil Kakodkar : Chairman, Atomic
Energy Commission and Secretary,
Dept. of Atomic Energy.
Mr. Nripendra Misra : Chairman, Telecom
Regulatory Authority of India.
Mr. B. K. Mishra : Chairman, SSC.
Mr. Anil Kumar : Chairman, Telecom
Commission.
Mr. Justice (Retd.) B. N. Kirpal:
Chairman, National Forest
Commission.
Dr. Amrita Patel : Chairperson, National
Dairy Development Board (NDDB).
Lt. Gen. A.K. Nanda : Director-General,
Border Roads Organisation.
Dr. Nirmal Kumar Ganguly : Director-
General, Indian Council of Medical
Research.
Mr. R. S. S. L. N. Bhaskardu : Chairman,
Public Enterprises Selection Board.
Mr. Prahlad Basu : Chairman, Board for
Reconstruction of Public Sector
Enterprises.
Mr. D. K. Sikri : Registrar-General of India
and Census Commissioner.
Mr. Justice D. P. Wadhwa : President,
National Consumer Disputes
Redressal Commission.
Mr. A.R. Lakshmanan: Chairman, Law
Commission.
Mr. Y. V. Reddy : Governor, RBI.
Mr. Ravindra Varma : Chairman,
National Commission on Labour.
Mr. Justice G. N. Ray : Chairman, Press
Council of India.
Mr. Ajit Bhattacharjea : Director, Press
Institute of India.
Mr. Anil Kapoor : Chairman, Audit Bureau
of Circulations (ABC).
Mr. Ravindra Kumar : Chairman, United
News of India.
Mr. Bahubali S. Shah : President, Indian
Newspaper Society.
Mr. R. Lakshmipathy : Chairman, PTI.
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Mr. C. S. Rao : Chairman, Insurance
Regulatory Authority.
Ms. Indira Bhargava : Chairperson,
C e n t r a l B o a r d o f D i r e c t Ta x e s
(CBDT).
Mr. A. K. Singh : Chairman, Central Board
of Excise & Customs.
Mr. Sushil Kumar Roongta : Chairman,
SAIL.
Mr. S. K. Garg : CMD, NHPC.
Mr. R.S. Sharma : CMD, ONGC.
Mr. U.D. Choubey : CMD, GAIL.
Mr. S. Behuria : Chairman, IOC.
Mr. Prabir Sengupta : Director-General,
Indian Institute of Foreign Trade.
Mr. M.R. Pasrija : CMD, Oil India Ltd.
Mr. Ashok Ganguly : Chairman, CBSE.
Mr. M. Damodaran : Chairman,
Securities & Exchange Board of India.
Mr. Y. S. P. Thorat : Chairman, NABARD.
Mr. O.P. Bhat : Chairman, SBI.
Mr. R. H. Patil : Chairman, UTI Asset
Management Company.
Mr. V. P. Shetty : Chairman, IDBI.
Mr. T.S. Vijayan : Chairman, LIC.
Mr. Justice Ajay Kumar Banerji :
Chairman, Company Law Board.
Ms. Kapila Vatsayayan : P r e s i d e n t ,
Indira Gandhi National Centre for the
Arts (IGNCA).
Mr. Nirupam Sen : India’s Permanent
Representative to UN.
Dr. Mangla Rai : Director-General, Indian
Council of Agricultural Research.
Mr. R. Jeyasheelan : Chairman, Central
Water Commission.
Ms. Girija Vyas : Chairperson, National
Commission for Women.
Dr. C. Rangarajan : C h a i r m a n , 1 2 t h
Finance Commission.
Prof. Suresh D. Tendulkar : Chairman,
National Statistical Commission.
Mr. V. Rajagopalan : Chairman, Central
Pollution Control Board (CPCB).
(87) of (202)
Ms. Sharmila Tagore : Chairperson,
Central Board of Film Certification.
Ms. Nafisa Ali : Chairperson, Children’s
Film Society of India.
Mr. C. Babu Rajeev : Director-General,
Archaeological Survey of India.
Mr. Habil Khorakiwala : P r e s i d e n t ,
FICCI.
Mr. R. S. P. Sinha : Chairman, MTNL.
Mr. R. N. Das : Director, Enforcement
Directorate.
Mr. D. Swarup : Chairman, Pension Fund
Regulatory & Development Authority.
Mr. Pratyush Sinha : Central Vigilance
Commissioner.
Mr. S. Banerjee : Director, Bhabha Atomic
Research Centre.
Mr. Wajahat Habibullah : Chief
Information Commissioner.
Mr. Pradeep Kumar : Chairman, NHAI.
Ms. Rajni Patil : Chairperson, Central
Social Welfare Board.
Mr. Suresh Kalmadi : President, Indian
Olympic Association.
Prof. Krishan Kumar : Director, NCERT.
Mr. Sunil Bharti Mittal : President, CII.
Mr. Sam Pitroda : Chairman, National
WORLD
Afghanistan : President – Hamid Karzai;
Capital – Kabul.
Albania : President – Alfred Moisui;
Prime Minister – Fatos Nano; Capital –
Tirana.
Algeria:President – Abdelaziz Bouteflika;
Prime Minister – Ahmed Ouyahia;
Capital – Algiers.
Argentina : President – Nestor Carlos
Kirchner; Capital – Buenos Aires.
Australia : Governor-General – Michael
Jeffery; Prime Minister – John Winston
Howard; Capital (Federal) – Canberra.
(88) of (202)
Knowledge Commission.
Mr. M. V. Kamath : Chairman, Prasar
Bharti Board.
Mr. Ratan Tata : Chairman, Investment
Commission.
Mr. N. Lakshmi Narayanan : Chairman,
NASSCOM.
Mr. Anil K. Agarwal : President,
ASSOCHAM.
Mr. Manmohan Shetty : Chairman,
National Film Development
Corporation.
Mr. Tripurari Sharan : Director, Film &
Television Institute of India (FTII).
Mr. V. Thulasidas : CMD, Air-India.
Mr. V. Trivedi : CMD, Indian.
Mr. A. K. Puri : CMD, BHEL.
Mr. Ram Niwas Mirdha : Chairman,
Sangeet Natak Akademi.
Dr. Karan Singh : President, ICCR.
Prof. D. N. Tripathi : Chairman, ICHR.
Mr. Andre Beteille : Chairman, ICSSR.
Dr. Ishar J. Ahluwalia : Chairperson,
ICRIER.
Mr. Kumarmangalam Birla : Chairman,
Board of Trade.
Mr. Mathew Varghese : Chairman, GIC.
Austria : P r e s i d e n t – T h o m a s K l e s t i l ;
Chancellor – Wolfgang Schussel;
Capital – Vienna.
Bahrain : King – Hamad ibn al-Khalifah;
Prime Minister – Sheikh Khalifah Sulman
al-Khalifah; Capital – Manama.
Bangladesh : President - Iajuddin
Ahmed; Capital - Dhaka.
Belarus: President - Alexander
Lukashenko; Prime Minister - Sergei
Sidorsky; Capital -Minsk.
Belgium : King - Albert II; Prime
Minister - Guy Verhofstadt; Capital -
Brussels.
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Bolivia : President - Evo Morales;
Capital - La Paz.
Brazil : President - Luiz Inacio Lula da
Silva; Capital - Brasilia.
Bulgaria : President - Georgi Purvanov;
Prime Minister - Simeon II; Capital -
Sofia.
Burkina Faso : President - Blaise
Compaore; Prime Minister – Paramanga
Ernest Yonli Capital -Ouagadougou.
Cambodia : King - Norodom Sihamoni;
First Prime Minister -Ung Huot; Second
P r i m e M i n i s t e r -H u n S e n ; C a p i t a l -
Phnom Penh.
Canada : Governor-General - Ms.
Michaelle Jean; PM - Stephen Harper;
Capital - Ottawa.
Chile : President - Ms. Michelle Bachelet;
Capital - Santiago.
China : President - Hu Jintao; Prime
Minister - Wen Jiabao; Capital -Beijing.
Colombia : President - Alvaro Uribe
Velez; Capital - Bogota.
Croatia: President - Stipe Mesic; Prime
Minister -Dr. Ivo Sanader; Capital -
Zagreb.
Cuba: President - Fidel Castro Ruz;
Capital - Havana.
Czech Republic: President - Vaclav
Klaus; Prime Minister - Jiri Paroubek;
Capital - Prague.
Denmark : Queen - Margrethe II; Prime
Minister - Anders Fogh Rasmussen;
Capital - Copenhagen.
East Timor : President – Jose Ramos-
Horta; Prime Minister – Xanana
Gusmao; Capital - Dili.
Ecuador : President – Rafael Correa;
Capital – Quito
Egypt : President - Hosni Mubarak; Prime
Minister - Ahmed Najief; Capital -
Cairo.
El Salvador : President - Mr. Elias
Antonic Saca; Capital - San Salvador.
Ethiopia: President - Girma
Woldegyiorgis; Prime Minister - Meles
Zenawi; Capital - Addis Ababa.
IC : PTpnsgk01
Finland: President - Ms. Tarja Halonen;
Capital - Helsinki.
France : President - Nicolas Sarkozy;
Prime Minister – Francois Fillon;
Capital - Paris.
Gabon : President – Omar Bongo
Ondimba; Prime Minister – Jean Eyeghe
Ndong; Capital – Libreville.
Germany: P r e s i d e n t - H o r s t K o e h l e r ;
Chancellor - Ms. Angela Merkel;
Capital - Berlin.
Guyana : President - Bharrat Jagdeo;
Prime Minister - Samuel Hinds; Capital -
Georgetown.
Greece : President - Constantinos
Stephanopoulos; Prime Minister -
Costas Simitis; Capital - Athens.
Haiti : President – Rene Preval; Prime
Minister – Gerard Latortue; Capital –
Port-au-Prince.
Honduras : President – Manuel Zelaya;
Capital – Tegucigalpa.
Hungary : President - Ferenc Madl;
Prime Minister - Peter Medgyessy;
Capital - Budapest.
Indonesia : President - Susilo Bambang
Yudhoyono; Capital - Jakarta.
Iran : President - Mahmoud
Ahmadinejad; Capital - Teheran.
Iraq : President - Jalal Talabani; Prime
Minister - Nuri al-Maliki; Capital -
Baghdad.
Ireland : President - Ms. Mary
McAleese; Prime Minister - Bertie
Ahern; Capital - Dublin.
Israel : President - Shimon Peres; Prime
Minister – Ehud Olmert; Capital -
Jerusalem.
Italy : President - Georgio Napolitano;
Prime Minister - Romano Prodi;
Capital - Rome.
Japan : Emperor - Akihito; Prime Minister
: Yasuo Fukuda; Capital -Tokyo.
Jordan : King - Abdullah II; Prime
M i n i s t e r - Faisal al-Fayez; Capital -
Amman.
(89) of (202)
Kazakhstan : President - Nursultan A.
Nazarbayev; Prime Minister – Karim
Masimov; Capital - Astana.
Kenya : President - Mwai Kibaki; Capital
– Nairobi.
Korea, North : President - Marshal Kim
Jong II; Prime Minister - Hong Song
Nam; Capital - Pyongyang.
Korea, South : President - Roh Moo-
hyun; Capital - Seoul.
Kuwait : Emir - Sheikh Sabah al-Ahmad
al-Sabah; Capital - Kuwait.
Kyrgyzstan : President (Interim) -
Kurmanbek Bakiyev; Prime Minister –
Azim Isabekov Capital - Bishkek.
Laos : President - Gen. Khamtay
Siphandon; Prime Minister - Bouasone
Bouphavanh; Capital - Vientiane.
Liberia : President - Ellen Johnson-
Sirleaf; Capital - Monrovia.
Madagascar : President - Marc
Ravalomanana; Prime Minister -
Jacques Sylla; Capital -Antananarivo.
Malawi : President - Bingu wa
Mutharika; Capital - Lilongwe.
Malaysia : King - Tuanku Syed
Sirajuddin Syed Putra Jamalullail; Prime
Minister -Abdullah Ahmad Badawi;
Capital - Kuala Lumpur.
Maldives : President - Maumoon Abdul
Gayoom; Capital - Male.
Mauritius: President - Karl A. Offmann;
Prime Minister - Navinchandra
Ramgoolam; Capital - Port Louis.
Mongolia : President – Nambaryn
Enkhbayar; Prime Minister – Capital - Moscow.
Miyeegombo Enkhbold; Capital – Ulan
Bator.
Montenegro : President – Filip
Vujanovic; Prime Minister – Milo
Dukanovic; Capital – Podgorica
Morocco : King - Mohammed VI; Prime
Minister - Driss Jettou; Capital - Rabat.
Myanmar (Burma) : Head of Govt. :
Gen. Than Shwe; Capital - Nyapidaw.
Namibia : President - Sam Nujoma; Prime
Minister - Theo-Ben Gurirab; Capital -
Windhoek.
(90) of (202)
Nepal : King - Gyanendra Bir Bikram Shah
Dev; P r i m e M i n i s t e r - G i r i j a P r a s a d
Koirala; Capital - Kathmandu.
Netherlands : Queen - Beatrix;
Capital - Amsterdam.
New Zealand : Governor-General -
Anand Satyanand; Prime Minister - Ms.
Helen Clark; Capital - Wellington.
Niger : President - Tandja Mamadou;
Prime Minister - Hama Amadou,
Capital - Niamey.
Nigeria : President - Umaru Yar’Adua;
Capital - Abuja.
Norway : King - Harald V; Prime
Minister - Jens Stoltenberg; Capital -
Oslo.
Pakistan : President – Gen. Pervez
Musharraf; Prime Minister –
Mr. Shaukat Aziz; Capital -Islamabad.
Panama : President – Mr. Martin
Torrijos; Capital – Panama City.
Peru: President – Alan Garcia; Prime
Minister – Luis Solari; Capital - Lima.
Philippines : President – Ms. Gloria
Macapagal – Arroyo; Capital - Manila.
Poland : President – Lech Kaczynski;
Prime Minister – Jaroslaw Kaczynski;
Capital - Warsaw.
Portugal : President – Jorge Sampaio;
Prime Minister – Jose Socrates;
Capital - Lisbon.
Romania : President – Traian Basecue;
Capital - Bucharest.
Russia : President – Vladimir Putin;
Prime Minister - Viktor Zubkov;
Rwanda : President – Paul Kagame;
Capital -Kigali.
Saudi Arabia : King – Abdullah bin
Abdul Aziz al Saud; Capital - Riyadh.
Serbia : Prime Minister - Vojislav
Kostunica; Capital - Belgrade.
Sierra Leone : President - Ahmed Tejan
Kabbah; Capital - Freetown.
Singapore : President - S. R. Nathan;
PM - Lee Hsien Loong; Capital -
Singapore.
IC : PTpnsgk01
Slovakia : President - Ivan Gasparovic;
Prime Minister - Mikulas Dzurinda;
Capital -Bratislava.
South Africa : President – Thabo M.
Mbeki; Capital - Cape Town
(Legislative) and Tshwane (Formerly
Pretoria) (Administrative).
Spain : K i n g - J u a n C a r l o s I ; P r i m e
Minister - Jose Luis Rodriguez
Zapatevo; Capital - Madrid.
Sri Lanka : Exe. President – Mahinda
Rajapakse; Prime Minister - Ratnasiri
Wickremanayake; Capital - Sri
Jayewardenepura Kotte (Colombo).
Sudan : President - Omar Hassan Ahmad
al-Bashir; Capital - Khartoum.
Sweden : King - Carl XVI Gustaf; PM –
Fredrik Reinfeldt; Capital - Stockholm.
Switzerland : President - Moritz
Leuenberger; Capital - Berne.
Syria : President - Bashar Al-Assad; PM -
Muhammad Naji al-Otari; Capital -
Damascus.
Taiwan : President - Chen Shui-bian;
Prime Minister -Su Tseng-chang;
Capital - Taipei.
Tajikistan : President - Emomali
Rakhmonov; PM - Akil Akilov; Capital -
Dushanbe.
Tanzania : President - Benjamin William
Mkapa; Prime Minister - Frederick
Tulway Sumaye; Capital – Dodoma.
Thailand : King - Bhumibol Adulyadej;
PM – Surayud Chulanont; Capital -
Bangkok.
Trinidad and Tobago: President -
George Maxwell Richards; Prime




Pearls of wisdom
Minister - Patrick Manning; Capital -
Port-of-Spain.
Tunisia : President - Zine El Abidine Ben
Ali; Prime Minister - Mohamed
Ghannouchi; Capital - Tunis.
Turkey : President - Abdullah Gul; Prime
Minister - Recep Tayyip Erdogan;
Capital - Ankara.
Ukraine : President - Victor Yushchenko;
Capital - Kiev.
United Arab Emirates : Prime
Minister -Sheikh Mohammed bin Rashid
Al-Maktoum; Capital - Abu Dhabi.
United Kingdom : Queen - Elizabeth II;
Prime Minister - Gordon Brown;
Capital - London.
United States of America :
President - George W. Bush; Secretary
of State – Dr. Condoleezza Rice;
Capital -Washington, D.C.
Uzbekistan: President - Islam A.
Karimov; Prime Minister – Shavkat
Mirziyayev; Capital - Tashkent.
Vanuatu : President - Kalkokt
Mahashelekel; Prime Minister - Ham Livi;
Capital - Vila.
Venezuela : President - Hugo Chavez
Frias; Capital - Caracas.
Vietnam : President - Nguyen Minh
Triet; Prime Minister - Nguyen Tan
Dung; Capital - Hanoi.
Zambia : President - Levy Patrick
Mwanawasa; Prime Minister - General
M. N. Masheke; Capital - Lusaka.
Zimbabwe : Executive President -
Robert G. Mugabe; Capital - Harare.

“If you have made mistakes, even serious ones, there is always another chance for you.
What we call failure is not the falling down but the staying down.”
– MARY PICKFORD

“Go confidently in the direction of your dreams. Live the life you have imagined”
– HENRY DAVID THOREAU

IC : PTpnsgk01 (91) of (202)

 LATEST WHO’S WHO
WORLD
Ban Ki-moon : Secretary-General,
United Nations Organisation.
Ms. Asha-Rose Migiro : First Deputy
Secretary-General, UN.
Major Gen. Randhir Mehta : Military
Adviser to UN Dept. of Peace-keeping
Operations.
Robert Zoellick : P r e s i d e n t , W o r l d
Bank.
Rodrigo Rato : M a n a g i n g D i r e c t o r ,
International Monetary Fund (IMF).
Koichiro Matsuura : Director-General,
UNESCO.
Dr. Margaret Chan : Director-General,
WHO.
Jacques Diouf : Director-General, Food
and Agricultural Organisation.
Juan Somavia : Director-General,
Inter-national Labour Organisation.
Ann M. Veneman : Executive Director,
United Nations International Children's
Emergency Fund (UNICEF).
Antonio Guterres : UN High
Commissioner for Refugees.
Mark M. Brown : D i r e c t o r - G e n e r a l ,
United Nations Development
Programme.
Dr. Supachai Panitchpakdi : General, International Atomic Energy
Secretary-General, United Nations
Conference on Trade and Development
(UNCTAD).
Angel Gurria : Secretary-General,
Organisation of Economic Cooperation
and Development (OECD).
Ms. Rosalyn Higgins : President,
International Court of Justice.
Haruhiko Kuroda : President, Asian
Development Bank.
Donald Kaberuka : President, African
Development Bank.
Jacques Rogge : President,
International Olympic Committee.
Don McKinnon : Secretary-General,
Commonwealth.
Harshvardhana Singh : Deputy
Director-General, WTO.
Prof. Alpha Oumar Konare : Chairman,
African Union.
(92) of (202)
Pascal Lamy : Director-General, WTO.
Amara Essy : Secretary-General,
African Union.
Louise Arbour : High Commissioner, UN
High Commission for Human Rights.
Ray Mali : Acting President,
International Cricket Council.
Abdullah Ahmad Badawi : Chairman,
Non-Aligned Movement.
Jose Manuel Durao Barroso :
President, European Commission.
Kandeh K. Yumkella : Director-
General, UNIDO.
Jammel Al Hujilan : Secretary-
General, Gulf Co-operation Council.
Ekmeleddin Ihsanoglu : Secretary-
General, Organisation of Islamic
Conference.
Alvaro Silva Calderon : Secretary-
General, Organisation of Petroleum
Exporting Countries (OPEC).
Cesar Gaviria Trujilo : Chairman,
Organisation of American States.
Sam Nujoma : President, South-West
African People’s Organisation
(SWAPO).
Dr. Mohamed ElBaradei : Director-
Agency (IAEA).
Jaap de Hoop Scheffer : Secretary-
General, North Atlantic Treaty
Organisation (NATO).
Dr. Abdul Waheed Khan : Director,
Commonwealth of Learning.
Hashim Abdul Halim : Chairman,
Commonwealth Parliamentary
Association.
Ms. Thoraya Ahmed Obaid :
Executive Director, UNFPA.
Ong Keng Yong : Secretary-General,
ASEAN.
Q. A. M. A. Rahim : Secretary-General,
SAARC.
Lamine Diack : President, International
Amateur Athletic Federation (IAAF).
Michael Griffin : Chief of NASA(USA).
Ms. Irene Zubaida Khan : Secretary-
General, Amnesty International.
IC : PTpnsgk01
 GENERAL AWARENESS – QUIZ

DIRECTIONS: For the following

questions, four options are given. Choose
the correct option.

1. Which of the following companies was

the partner for manufacturing Ford
Escort in India?
(1) Tata (2) Eicher (1) Balaji, Balaji Telefilms
(3) Escorts (4) Mahindra (2) Sri Krishna, Krishna Arts
(3) Shiva, CVM computers
2. Godrej h a d a n u n s u c c e s s fu l j o i n t (4) None of these
venture with .....
(1) HLL (2) P & G 7 . Arvind mills manufactures all of the
(3) Ford (4) None of these following brands of jeans except ....
(1) Flying Machine
3. W h i c h c o m p a n y o w n s t h e F l y i n g (2) Newport
Machine brand of jeans? (3) Levi’s
(1) Levi’s (2) Arvind Mills (4) Ruf & Tuf
(3) Mafatlal (4) None of these
8. Which brand is the market leader in the
4. Which of the following companies owns alkaline battery market in India?
the brands ESPN, Buena Vista (1) Duracell (2) BPL Excell
Television and Touchstone
Pictures? (3) Panasonic (4) Energizer

(1) Warner Brothers

(2) Star TV 9. Java, the computer language, was
invented by .....
(3) Fox Searchlight Pictures
(1) IBM
(4) Walt Disney Crop.
(2) Microsoft
(3) Sun Microsystems
5. T h e a u t o m o b i l e b r a n d s C a d i l l a c ,
Pontiac and Opel belong to ..... (4) Motorola

(1) Renault SA (2) Fiat Auto

(3) BMW (4) General Motors 10. W h i c h o f t h e f o l l o w i n g b r a n d o f
batteries is owned by BPL?
(1) Duracell (2) Long life
6. The picture shown is of a Hindu God
as well as logo of the famous Indian (3) Excell (4) Energizer
C o m p a n y. N a m e t h e G o d a n d t h e
company.

IC : PTpnsgk01 (93) of (202)

1 1 . TCS, a company under the Tatas , 1 8 . The Four Square Kings brands of
deals in cigarette, which promised the young
(1) Steel adults to Live Life King Size is
associated with
(2) Automobiles
(1) Godfrey Philips
(3) Software solutions and consultancy
(2) ITC
(4) cement
(3) Shaw Wallace
(4) Adani group
12. Which of the following brands is owned
by P & G?
(1) Iodex (2) Moov 19. Who is the largest tyre manufacturer
in India?
(3) Revital (4) Vicks
(1) Ceat (2) MRF
(3) J.K. (4) Dunlop
13. O. P. Lohia group controls
(1) Bikanervala Foods
20. I d e n t i f y t h e l o g o o f t h e f a m o u s
(2) Indo Rama Synthetics
software company and give name of
(3) Parke Davis the bird.
(4) HCL-Technologies

(1)Linux, Penguin
14. H o n g Ko n g ’ s H a r i l e l a g r o u p i s
(2) Apple, Penguin
engaged in
(1) Computer solutions (3) Linux, Kiwi
(2) Construction (4) Apple, Kiwi
(3) Hospitality industry
(4) Steel 21. T h e C h e n n a i b a s e d m o t o r c y c l e
manufacturer TVS launched a four
stroke, four geared, 150 cc scooter by
15. What does Novartis deal in? the name
(1) Power (2) Mobiles (1) TVS Legend
(3) Drugs (4) Watches (2) TVS Super
(3) TVS Supermo
16. Which of the following is owned by the (4) TVS Spectra
Eicher group?
(1) LML Vespa (2) Hero Honda
22. With what would you associate the
(3) Royal Enfield (4) TVS Suzuki brand name Ruggers?
(1) Shoes (2) Jeans
17. Who owns the famous brands Sat (3) Cigarettes (4) Casual Wear
Isabgol and Burnol?
(1) Dabur
23. A s h o k Leyland, a company
(2) Godrej manufacturing trucks, is associated
(3) Dr. Reddy’s Labs with
(4) Dr. Morepen (1) Reliance (2) Tata
(3) Birlas (4) Hindujas

(94) of (202) IC : PTpnsgk01

2 4 . Which one of the following is not a 3 0 . Brands like Stag, Panther, Cruiser,
shoe brand of Liberty? Bison, Tusker and Taurus are owned
(1) Force 10 (2) Footfun by
(3) Windsor (4) Ambassador (1) Tatas
(2) DRDO
2 5 . Who manufactures Pan Pasand? (3) Ashok Leyland
(1) Parle (2) Nutrine (4) Eicher
(3) Ravalgaon (4) Parry’s
31. The brands of mobikes like Samurai,
Shaolin, and of scooters like Spectra,
2 6 . The brands like Royale, Apcolite, are owned by
Tractor and Utsav are from the stable
of (1) Honda Motors
(1) Asian Paints (2) Eicher Group (2) Hyundai Motors
(3) Berger (4) Nerolac (3) TVS Suzuki Ltd (TSL)
(4) Mitsubishi Motors
27. B i s c u i t b ra n d s l i k e F i f t y - F i f t y ,
Bourbon, Nice and Good Day are 32. Who is Asia’s only manufacturer of
owned by Sulfolane?
(1) Parle (2) Britannia (1) Dr. Reddy’s
(3) Haldiram (4) Marico (2) Ranbaxy
(3) Moser Baer
28. In 1969, who introduced the brand (4) Cadila Pharmeceuticals Ltd.
Nirma?
(1) Nusli N. Wadia 33. Who is India’s leading producer of
(2) H. S. Parekh worsted suiting fabric with sixty
percent market share?
(3) N.A. Palkhivala
(1) Grasim (2) Digjam
(4) K.K. Patel
(3) Raymonds (4) Arvind Mills

29. Identify the logo and what is missing

in it? 34. Lucent Technologies is an off-shoot
o f w h i c h o f t h e f o ll o w i n g t e l e c o m
giants?
(1) Vodafone (2) Seimans
(3) AT & T (4) HP

35. The publication brands Standard &

(1) British Petroleum and alphabets B
Poor’s, Business Week and
and P are missing
Aviation Week are owned by
(2) Hindustan Petroleum and alphabets
(1) The Times Group
H and P are missing
(2) Mc Graw Hill
(3) Reliance Petroleum and alphabets
R and P are missing (3) Murdoch Group
(4) None of these (4) Touchstone Publication

IC : PTpnsgk01 (95) of (202)

3 6 . To whom does the mobile-phone brand 42. The Compass Group of North
Talkabout belong? America, a division of UK based
(1) Nokia (2) Samsung Compass Group PLC, is the leader in
(3) Motorola (4) LG (1) Footwear
(2) Apparels merchandising
37. To whom does the software brands (3) C o n t r a c t f o o d service and
Access and Excel belong? hospitality
(1) IBM (4) Computer hardware designing
(2) Microsoft
(3) Apple 43. Which company advertises itself with
(4) Dell Compupters the punchline Stop hunger?
(1) Cry
38. The edible oil by the name Dhara is (2) Sodexho
produced by (3) NHRC
(1) Gujrat Cooperative Milk Marketing (4) Red Cross Society
Federation (GCMMF)
(2) Hindustan Lever Ltd.(HLL)
44. The first electronic typewriter (ET 101
(3) Adani Foods in 1978) and the first personal computer
(4) Marico Industries (M20 in 1982) were launched by
(1) Microsoft (2) IBM
39. T h e m e g a b r a n d s M a r l b o r o a n d (3) Olivetti (4) National
Benson & Hedges are owned by
(1) Godfrey Philips 45. T h e w e ll k n o w n b r a n d s l i k e Lux ,
(2) Philip Moris Sunsilk, Lipton, Ponds and Close
Up are owned by
(3) ITC
(1) Nestle
(4) Moser Baer
(2) P & G
(3) Colgate-Palmolive
40. Which brand derives its name from a
Latin word meaning Snow White? (4) Unilever
(1) Lakme (2) Nivea
(3) Pond’s (4) Charmis 46. Motor Cars with brand names Sienna,
Corolla, Land Cruiser and
Highlander are the products of
41. The company is a famous trademark
(1) Mitsubishi
in the music business. Give the full
name of the company. (2) Toyota Motors Co. Ltd.
(3) Daewoo
(4) Fiat

47. To whom does the brands Eno and

Horlicks belong?
(1) HMV (His Master’s voice) (1) HLL
(2) TIPS (2) GlaxoSmithkline
(3) Sony Music (3) Nestle
(4) None of these (4) P & G
(96) of (202) IC : PTpnsgk01
4 8 . IP, the basic language to communicate 55. Which of the following company
over the internet, has been developed dealing in cookies and crackers was
by acquired by Kellogg’s in March 2001?
(1) IBM (1) Colgate-Palmolive
(2) Microsoft (2) Margarine Unie
(3) Cisco (3) Phillip Moris
(4) Sun Microsystems (4) Keebler Foods Co. USA

49. The mega mobil oi l brand Esso i s 56. Which company has taken over SRF
owned by Finance?
(1) Shell (2) Exxon Mobil (1) Kotak Mahindra
(3) HPCL (4) Gazprom (2) DCM Consolidated
(3) GE Capital
50. What does the word Motorola mean? (4) HCL
(1) Sound in motion
(2) Sound in music 57. Which company has taken over the
(3) The rising sun newspaper Business Standard?
(4) The flying eagle (1) Anand Bazar Patrika
(2) Kotak Mahindra
51. W h a t w a s t h e f i r s t product of (3) Bennett Coleman
Hewlett-Packard? (4) Wall Street Journal
(1) A camera
(2) A laptop 58. The logo belongs to which Reliance
(3) A computer company?
(4) An audio oscillator

52. Alliance Air is a subsidiary of which

of the following Airlines?
(1) Air France (2) Indian Airlines (1) Reliance Industries Ltd.
(3) Modiluft (4) KLM (2) Reliance Petrochemicals
(3) Reliance Infocom
53. Name the Public Sector Undertaking (4) None of these
acquired by Reliance Industries.
(1) IOC (2) ITDC 59. Which company has taken over the
(3) IPCL (4) IDPL brands Canada Dry and Crush
worldwide?
54. Which company has acquired Captain (1) Coca Cola (2) Pepsi Co.
Cook brand? (3) Cadbury (4) Unilever
(1) DCM Home Products
(2) Hindustan Lever 60. BRITCO Foods is a holding company
of
(3) Corn Products Co.
(1) Coca Cola (2) Pepsi
(4) None of these
(3) ITC (4) Parle India
IC : PTpnsgk01 (97) of (202)
6 1 . The headquarters of NIIT is in 6 9 .Gazprom, the world’s biggest gas
(1) Chennai (2) Bangalore company accounting for 23% of the
world output, belongs to
(3) Mumbai (4) New Delhi
(1) France (2) Iraq
(3) Saudi Arabia (4) Russia
6 2 . The headquarters of HFCL is in
(1) Delhi (2) Mumbai
70. To which country does the diamond
(3) Bangalore (4) Shimla mining giant De Beers belong?
(1) South Africa (2) UK
6 3 . ABB belongs to (3) USA (4) France
(1) Austria (2) Japan
(3) Switzerland (4) USA 71. To which country does the sportswear
company Adidas belong?
6 4 . Adobe System Inc. belongs to (1) Germany (2) France
(1) India (2) Japan (3) USA (4) Belgium

(3) Australia (4) USA

72. The logo shown is of a multinational
company. To which country does it
65. When and where was Citibank belong?
established?
(1) 1912 in UK
(1) UK
(2) 1812 in USA
(2) USA
(3) 1917 in France
(3) France
(4) 1891 in Switzerland (4) Netherlands

66. The headquarters of L & T is in 73. To w h i c h c o u n t r y d o e s t h e M N C

(1) Delhi (2) Mumbai Hyundai belong?
(3) Hyderabad (4) Bangalore (1) Japan (2) S. Korea
(3) Taiwan (4) Thailand
67. Which of the following pharma majors
has its headquarters in New Delhi? 74. To which country does Heinz belong?
(1) Ranbaxy (1) USA (2) Germany
(2) Dr. Reddy’s Labs (3) Switzerland (4) Austria
(3) Cipla
(4) Pfizer 75. Zee (currently Zee Telefilms Ltd.), was
p r o m o t e d b y w h i c h g ro u p o f
68. The first headquarters of Microsoft companies, in 1992?
was established in 1975 at (1) The Essel Group
(1) New York (2) Washington DC (2) The Welcom Group
(3) New Maxico (4) Taxes (3) The Tata Group
(4) Dr. Reddy’s Group

(98) of (202) IC : PTpnsgk01

7 6 .Which Indian company was the first
to out license a molecule for clinical
trials to Novo Nordisk - the world
leader in diabetes care?
(1) Moser Baer
(2) Wockhardt
(3) Dr. Reddy’s Labs
(4) R a n b a x y
7 7. The foundation of which company was
laid in a small shop in Kolkata, from
where medicines were sent directly
through mail, to even the smallest of
villages in Bengal by Dr. S.K. Burman?
(1) Dabur (2) Hamdard
(3) Zandu (4) Cipla
78. HMT Ltd. was established in 1953, in
technical collaboration with
(1) Titan, India
(2) Timex, USA
(3) Oerlikon, Switzerland
(4) All the above
79. Identify the Bank from its logo.
82. Wi th which of the fo llowing is the
Badla system associated?
(1) Foreign exchange
(2) Forward trading
(3) Currency markets
(4) Commodity market
83. In business terminology, what does
POP stand for?
(1) Post Operations Procedure
(2) Place of Publicity
(3) Place of Purchase
(4) Point of Purchase
84. T h e Z a m i n d a r i s y s t e m o f l a n d
revenue
(1) r a i s e d t h e s t a t u s o f r e v e n u e
collectors to that of private
landlords.
(2) recognised each peasant holding a
plot of land as landlord and hence
directly responsible for land
revenue to the state.
(3) was introduced in Delhi.
(4) was introduced in Madras.

85. QS 9000 certification is related to

(1) Corporation Bank
(1) automobile industry.
(2) Citi Bank
(2) computer software.
(3) Canara Bank
(3) computer hardware.
(4) Standard Charterd Bank
(4) All of the above

80. Which Indian pharmaceutical company

owns a USFDA certified plant? 86. New York Stock Exchange better
known as
(1) Ranbaxy (2) Dabur
(1) Wall Street (2) Baker Street
(3) Cadila (4) Lupin
(3) Fleet Street (4) Writers’ Street

81. T h e T o y o t a M o t o r C o . L t d h a s
derived its name from 87. What does the term Tax Break mean?
(1) the Toyota river (1) A situation which is providing some
relief from tax, in whole or part
(2) the Toyota city.
(2) Levying heavy taxes
(3) Sakichi Toyoda
(3) Paying Tax in parts
(4) None of these
(4) None of these

IC : PTpnsgk01 (99) of (202)

8 8 . Wh a t d o e s t h e term Bilateral 95. India joined the International
Monopoly mean? Monetary Fund in the year
(1) A m o n o p o l y i n m o re t h a n o n e (1) 1945 (2) 1946
business (3) 1948 (4) 1949
(2) Taking ov er a rival to create a
monopoly 96. I n w h i c h yea r was the Imperial
(3) A market with only one seller and Bank converted to State Bank of
one buyer India?
(4) None of these (1) 1950 (2) 1955
(3) 1956 (4) 1957
89. In which year was the Calcutta Stock
Exchange started? 97. In which year was SEBI established?
(1) 1908 (2) 1909 (1) 1981 (2) 1983
(3) 1910 (4) 1911 (3) 1985 (4) 1988

90. W h i c h a m o n g t h e f o l l o w i n g i s a 98. In which y ear was the Taj Mahal

criterion of Star Trading Houses? Hotel started?
(1) Export (2) Import (1) 1904 (2) 1903
(3) Invisible (4) None of these (3) 1905 (4) 1906

91. Plastic money relates to 99. In which year was TISCO set up?
(1) plastic currency. (1) 1904 (2) 1905
(2) paper currency. (3) 1906 (4) 1907
(3) ATM cards.
100.In which year was RBI established?
(4) credit cards.
(1) 1935 (2) 1936
(3) 1940 (4) 1945
92. Standard and Poors
(1) is a credit rating agency.
101.Identify the logo of the famous
(2) is in joint venture with CRISIL.
pharmaceutical company.
(3) Both (1) and (2)
(4) None of the above
(1) Dr. Reddy’s Lab
(2) Ranbaxy
93. In which year did P & G launch Ariel
Blue? (3) Glaxo
(1) 1991 (2) 1992 (4) Nicholas Piramal
(3) 1993 (4) 1994
102.In 1935, Khwaja Abdul Hmied, set
up a pharmaceutical company, which
94. I n w h i c h y e a r w a s Banking
came to be popularly known as
Companies Act passed?
(1) Dr. Morepen
(1) 1947 (2) 1948
(2) Dabur
(3) 1949 (4) 1950
(3) Hamdard Laboratories
(4) Cipla
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103.In which year was P & G launched in 111.Which city is known as Silicon
USA? Valley of India?
(1) 1945 (2) 1890 (1) Bangalore (2) Mumbai
(3) 1837 (4) 1917 (3) Hyderabad (4) Chennai

104.In which year was Harley-Davidson

112.According to the survey of India’s
motorcycle first produced?
most valuable companies, which
(1) 1803 (2) 1903
is the most valuable PSU?
(3) 1819 (4) 1935
(1) Indian Oil (2) SAIL
(3) BHEL (4) ONGC
105.In which year was Intel founded?
(1) 1868 (2) 1982
(3) 1968 (4) 1992 113.The Oriental Bank of Commerce
was founded by
106.In which year was Unit Trust of (1) Lala Karam Chand Thaper in 1936.
India launched?
(2) R a i B a h a d u r L a l a S o h a n L a l i n
(1) 1964 (2) 1965
1943.
(3) 1966 (4) 1967
(3) the Indian Government and the
RBI in 1969.
107.Intel introduced the world’s first
(4) an act of Parliament.
micro-processor in the year
(1) 1981 (2) 1991
(3) 1971 (4) 1995 1 1 4 .Andy Grove i s t h e f o u n d e r o f a
famous company. Name the company.
108.ONGC was converted into a statutory (1) Intel (2) Microsoft
body by an act of the Indian Parliament (3) Digital (4) Compaq
in
(1) December 1955 (2)
August 1956 115.Name the company founded by
(3) October 1959 (4) January 1973 Thomas Alva Edison.
(1) Weshinghouse
109.Who started the Ford Motor (2) General Electric
Company?
(3) 20 th Century Fox
(1) Lionel Ford (2) Henry Ford
(4) Warner Brothers
(3) Charlie Ford (4) Nicholas Otto

110.Bill Gates was one of the founders 116.Renato Ruggerio is

of Microsoft. Who was the other? (1) a name connected with World Bank
(1) Paul Allen (2) an American corporate giant
(2) John Naisbitt
(3) a name connected with WTO
(3) Michael Crichton
(4) a name connected with Star TV.
(4) Kenneth Clarke

IC : PTpnsgk01 (101) of (202)

1 1 7. I d e n t i f y t h e t e l e c o m e q u i p m e n t 123.Which British Company made the UK’s
company from its logo first mobile call at a few minutes past
midnight, on the 1 st of January 1985?
(1) Lucent Technologies (1) Seimens (2) Nokia
(2) AT & T (3) Vodafone (4) Sony
(3) Ericsson
(4) Siemens 124 . W h i c h c o m p a n y b e c a m e a m a j o r
shareholder in L’Oreal, one of the
world’s leading makers of cosmetics,
118.What is the percentage of India’s in 1974?
share in world exports?
(1) HLL
(1) 0.58 (2) 1.28
(2) Shaw Wallace
(3) 12.58 (4) 15.28
(3) Nestle
(4) Colgate Palmolive
119.Every Street is Paved with Gold
is the name of the book written by the
founder chairman of a leading car 125.Which among the following nations is
manufacturer. Name the company. the highest recipient of IDA loans in
the world?
(1) Toyota (2) General Motors (1) India (2) China
(3) Ford (4) Daewoo (3) Mexico (4) Brazil

120.Which Japanese Automobile company
entered into an alliance with Reneult
SA and a French automobile company,
to achieve a profitable and balanced
growth, for the two partners in 1999?
(1) Isuzu (2) Suzuki
(3) Honda (4) Nissan
126.In February 2002, ABB opened a R &
D centre in Bangalore to
(1) develop good quality liquor.
(2) develop software and industrial IT
products.
(3) revitalise Enron power project.
(4) explore natural gas.

121.Which Indian business group is in a

127.What is the name of the Malaysian
joint venture with Mitsubishi to
currency which was devalued?
manufacture cars?
(1) Ringgit (2) Rupiah
(1) Reliance (2) Tatas
(3) Baht (4) Dinar
(3) Birlas (4) Thapars

128.The logo is of Imperial Tobacco

122.Name the person who revolutionised
company. In w h i c h y e a r wa s t h e
the electronics market in India. company founded?
(1) K. Mulchandani
(2) P. Nambiar (1) 1911
(3) S. P. Godrej (2) 1915
(4) Shiv Nadar (3) 1916
(4) 1910

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129.Based on sales and profits, which 135.Manu Chhabria is associated with
c o m p a n y i s t h e l a rg e s t I n d i a n the company
company? (1) Shaw Wallace & Co.
(1) HLL (2) Telco (2) Seagram.
(3) Reliance (4) Indian Oil
(3) Mohan Meakins.
(4) None of the above
1 3 0 . I f yo u h a d o n e u n i t e a c h o f t h e
following currencies, from which would
you be able to get the maximum 136.Name the apex institution in the field
number of rupees? of industrial development banking in
(1) US Dollar India.
(2) UK Pound (1) IFCI (2) ICICI
(3) Deutsche Mark (3) LIC (4) IDBI
(4) Japanese Yen
137.The World Trade Organisation was
set up to take over functions of which
131.The company with the largest refining
capacity in India is of the following?

(1) Indian Oil Corporation. (1) IUOTO (2) IMF

(2) Hindustan Petroleum. (3) ECOSOC (4) GATT

(3) Bharat Petroleum.
(4) Indo-Burmah Petroleum. 138.Who among the following is
considered to be the quality guru of
the world?
132.Which was the first public sector share (1) Phil Crosby
to be quoted on the Bombay Stock
Exchange? (2) Julia Morley
(3) Renato Rugieru
(1) Hindustan Petroleum
(4) All of these
(2) SAIL
(3) ONGC
139.The logo belongs to which tyr e
(4) Indian Oil
manufacturing company

133.Who has written the book The World

Bank and the Poverty of Nations? (1) Goodyear

(1) Don Morrison (2) MRF

(3) CEAT
(2) Jack Douglas
(4) Apollo Tyres
(3) Catherine Caufield
(4) None of these
140.The Indian partner of Microsoft to
pr ovide softwar e development
134.Name the apex bank for smal l consultancy is
industries. (1) HCL (2) PCL
(1) IDBI (2) SIDBI (3) TCS (4) TVSE
(3) IRCI (4) SBI

IC : PTpnsgk01 (103) of (202)

141.Name the company which has 147.Which Indian industrialist has been
l a u n c h e d I n d i a ’s f i r s t p r i v a t e honoured by the Wharton’s Dean
telecom network. Award?
(1) Bharti Telecom (1) Ratan Tata
(2) Siemens (2) Dhiruhbai Ambani
(3) Modi Telecom (3) Kumar Birla
(4) Spice (4) K.B. Dadiseth

142.Name the bank that is offering credit 148.Which International airline triggered
cards with pictures of your loved ones a price war in the Indian market by
on them. reducing air fares on flights?
(1) Hong Kong Bank (1) KLM (2) British Airways
(2) Visa (3) Air India (4) Lufthansa
(3) Citi Bank
(4) Standard Chartered 149.Which of the following company closed
its manufacturing unit in West Bengal
143.The logo belongs to the leader in the leading to violence by the workers?
Indian Ice-cream market. Name the (1) Ceat (2) Dunlop
company. (3) Bella Vesta (4) None of these

(1) Kwality Walls

150.What is the name of the Italian design
(2) Amul
agency which designed the small car
(3) Milk food launched by the Tata group?
(4) Vadilal (1) Perfetti (2) Gyanetti
(3) Don Juan (4) IDEA
144.Which of the following company has
purchased the pesticide brand –
Hexit? 151.Which of the fol lowing companies
makes the Acuvue UV contact
(1) Hindustan Lever lenses?
(2) Cipla (1) Bausch & Lomb
(3) Hoechst Schering (2) Johnson & Johnson
(4) Godrej Hi Care (3) Corning
(4) Designer Lenses
145.Name the company that has taken
over Rassi Cement Ltd.
(1) India Cements Ltd. 152.Which company or brand urges you in
its advertisements to get the Power
(2) ACC of freedom?
(3) JK Cement (1) Elle 18 (2) Exide
(4) Binani Group (3) Standard (4) Park Avenue

146.Which of the following brands is the

market leader in Indian zinc chloride 153.Which company markets the brands
batteries market? Star and Moon?
(1) Lakme (2) Oriflame
(1) Duracell (2) Novino
(3) Revlon (4) Avon
(3) Eveready (4) Energizer
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154.The world’s first high-voltage 161.In which year was Oil first struck at
generator called Power former was Bombay High?
launched by (1) 1979 (2) 1972
(1) L & T (2) ABB (3) 1981 (4) 1991
(3) GE (4) LG
162.To which country does the famous IT
155.What does Forbes Gokak deal in? company NEC belong?
(1) Tyres (1) USA (2) Japan
(2) Earth moving equipments (3) South Korea (4) UK
(3) Yarn and threading tools
(4) Sponge iron 163.To which country does ABN Amr o
belong?
156.Who owns the newspaper Hindustan
(1) Spain (2) France
Times?
(3) New Zealand (4) Netherlands
(1) Government of India
(2) K. K. Birla Group
164.The logo is of a famous automobile
(3) Kirloskar Group
company.When was it established in
(4) Bennette & Coleman Group India?

157.The tea brand Duncans belongs to

(1) 1972
(1) Torrent Group
(2) 1981
(2) Lloyds Group
(3) 1964
(3) G. P. Goenka Group
(4) 1952
(4) Jumbo Group

165.Which of the following companies was

158.Saatchi & Saatchi is an/a earlier known as Bachraj Trading
(1) engineering consultancy firm. Corporation?
(2) advertising agency. (1) LML
(3) subsidiary of HLL. (2) Mahindra & Mahindra
(4) telecom company. (3) Hindustan Motors
(4) Bajaj Auto
159.Identify the logo of a famous FMCG
group. 166.To which country does the mobile
handset manufacturer Siemens
belong?
(1) P & G
(1) UK (2) Switzerland
(2) Amul
(3) South Korea (4) Germany
(3) Nestle
(4) HLL 167.Which of the following groups owns
the Rajdoot brand of motor cycles?
160.In which year was India’s first financial (1) Eicher Industries
daily The Economic Times launched? (2) Punjab Tractors Ltd.
(1) 1961 (2) 1971 (3) Escorts
(3) 1982 (4) 1921 (4) Enfield
IC : PTpnsgk01 (105) of (202)
168.Which Central Government agency is 174.The Rajasthan Canal (now called the
responsible for the mapping and Indira Gandhi Canal) draws its water
exploration of minerals? from the river(s)
(1) The Geological Survey of India (1) Yamuna (2) Chambal
(2) Surveyor-General of India (3) Sutlej (4) Sutlej and Beas
(3) N a t i o n a l M i n e r a l D e v e l o p m e n t
Corp. Ltd. 175.A Sanctuary in Kerala is famous for
(4) Indian Bureau of Mines the animal shown. Name the sanctuary

169.Which multipurpose project provides

irrigation to maximum area in India?
(1) Beas
(2) Bhakra Nangal
(3) Damodar Valley
(4) Hirakud

(1) Idukki Sanctuary

170.Zoji-la pass connects
(2) Ghana sanctuary
(1) Srinagar and Leh.
(3) Periyar game sanctuary
(2) Arunachal Pradesh and Tibet.
(4) Gir Sanctuary
(3) Jammu and Kargil.
(4) Chamba and Spiti.
176.Which region is known as the Rice
Bowl of India?
171.Pulses are grown all over India except (1) Indo-Gangetic Plain
in areas of
(2) Krishna-Godavari Delta region
(1) unpredictable of rainfall.
(3) North-East region
(2) very high temperature.
(4) Kerala and Tamil Nadu
(3) very high rainfall.
(4) low rainfall.
177.The two poorest states in India are
(1) Bihar and Orissa.
172.Which sanctuary has been selected as
(2) Manipur and Bihar.
an alternative home for the Indian
lion? (3) Madhya Pradesh and Orissa.
(1) Bandipur Santuary (4) Madhya Pradesh and Manipur.
(2) Ghana Santuary
(3) Periyar Sentuary 178.The population of the world is
(4) Chandra Prabha Sanctuary currently about
(1) 3.4 billion (2) 6.4 billion
(3) 8.7 billion (4) 9.1 billion
173.The science of old age is known as
(1) Chronology
(2) Odontology
(3) Gerantology
(4) Gerantochronology

(106) of (202) IC : PTpnsgk01

179.Name the clock tower which has 24
statues of men wearing traditional
costumes of western India to represent
24 hours of the day.
(1) Rajabai Clock Tower in Mumbai
(2) Jantar Mantar in Delhi
(3) Victoria Memorial in Calcutta
(4) University Building in Pune
180.The Thunchen - is a musical
instrument made of copper and silver.
It is so long and heavy that it needs to
be supported at one end by a person
or be kept on a special wooden stand.
Who plays this instrument?
(1) The Lamas of Ladakh, Bhutan and
Tibet
(2) The folk singers of Bengal
(3) The wandering minstrels of Nepal
(4) The baisakhi dancers from Punjab
181.Which Indian river is also known as
Tsangpo or Dihang?
(1) Brahmaputra (2) Indus
(3) Narmada (4) Jhelum
182.Hasbro has a tie up with Funskool
India to market its toys and games in
India. Name the parent company of
Funskool.
(1) MRF (2) Classic Tin Toy
(3) Manhattan Toy (4) Toy-Kraft
183.Which of the fo llowing is used to
define the poverty line in India?
(1) Income data
(2) Investment data
(3) Savings data
(4) Consumption data
184.Who among the following has been
roped in by the Indian music industry
to crack down on music piracy?
(1) Julio Reberio (2) KPS Gill
(3) Kiran Bedi (4) Gautam Kaul
IC : PTpnsgk01
185.The name of the brand of logo shown
is taken from a particular species of
deer native to South Africa. Name the
brand
(1) Addias (2) Polo
(3) Reebok (4) Nike
186.The effect of indirect tax is
(1) an increase in the prices.
(2) a reduction in the prices.
(3) keeping the prices constant.
(4) making people panic about prices.
1 8 7. In which year were the
Fundamental Duties incorporated
in Indian Constitution?
(1) 1975 (2) 1976
(3) 1977 (4) 1979
188.A Supreme Court Judge is
removed by the
(1) President’s order.
(2) both Houses of Parliament.
(3) Chief Justice of India.
(4) P r e s i d e n t ’s o r d e r, a f t e r b o t h
Houses of Parliament pass the
resolution.
189.How can the Fundamental Rights
be protected by a citizen?
(1) By approaching the Supreme Court
which will issue appropriate rights
against the authority.
(2) Parliament will take note of such
violations and tell the Court.
(3) T h e E x e c u t i v e w i l l i n f o r m t h e
Courts.
(4) It is automatically protected.
(107) of (202)
190.Which of the following Fundamental 196.Who is the chairman of
Rights has been deleted from our Disinvestment Commission?
constitutional amendment? (1) Yashwant Sinha
(1) Right against exploitation. (2) G.V. Ramkrishna
(2) Right to freedom of religion. (3) Sikandar Bakht
(3) Right to property. (4) N. Vittal
(4) Right to freedom of speech and
expression.
197.The famous personality shown was
t h e f o u n d e r President o f Indian
1 9 1 . In I n d i a , f o r h o w l o n g c a n a
Independence League. Who was he?
President’s ordinance remain in force?
(1) Three months.
(1) Rash Behari Bose
(2) Two months.
(2) Mahatma Gandhi
(3) Till the President revokes it.
(3) Motilal Nehru
(4) Six months.
(4) Subhash Chandra Bose
192.Constitution of India vests the
executive power of the Indian Union in 198.Which of the following was a notable
(1) the Council of Ministers. feature of the Civil Disobedience
(2) the Prime Minister. Movement of Mahatma Gandhi?
(3) the President. (1) Arrest of thousands of people
(4) the Parliament. (2) Participation of women
(3) Picketing of shops
193.The Preventive Detention Act has (4) Mass strikes
a restraining effect on the
(1) right to equality.
199.Which of the following Chinese
(2) right to freedom. pilgrims to India gives us information
(3) right to freedom of religion. about the Harshvardhana period?
(4) right to constitutional remedies. (1) Huen Tsang (2) Fa-Hien
(3) Itsing (4) Wang Hiuen Tse
194.The idea of Fundamental Duties is
derived from
200.Which of the following was not one of
(1) the American Constitution. the reasons why Gujarat was one of
(2) the British Constitution. the richest provinces of the Delhi
(3) the Russian Constitution. Sultanate?
(4) None of these (1) Excellence of its handicraft and
textiles.
1 9 5 . In I n d i a , t h e o a t h o f o f f i c e i s (2) Its flourishing sea ports.
administered to the members of State (3) Richness of its mineral wealth.
Council of Ministers by the
(4) Richness of its soil.
(1) Governor.
(2) Chief Minister.
201.The Satavahana rulers were
(3) Chief Justice of the State High predominantly followers of
Court.
(1) Budhism (2) Hinduism
(4) Speaker of Legislative Assembly.
(3) Jainism (4) Shaivism
(108) of (202) IC : PTpnsgk01
202.In the year 1919, the All India 208.Which one of the following rights was
Khilafat Conference was held at described by B.R. Ambedkar as the
(1) Aligarh (2) Lucknow heart and soul of the Constitution?
(3) Deoband (4) Delhi (1) Right to freedom of religion
(2) Right to property
203.Which of the following was not written (3) Right to equality
by King Harshavardhana of the 7 th (4) Right to constitutional remedies
century?
(1) Kadambari (2) Ratnavali 209.In olden days, certain sari weavers
(3) Nagananda (4) Priyadarshika of Madhya Pradesh grew long nails and
made slits in them so that they could
spin fine threads to make saris. What
204.Mitakshara is a book on were these saris called?
(1) Medicine (1) Sambalpuri (2) Chanderi
(2) Astrolonomy (3) Dhakai (4) Patola
(3) Hindu law of inheritance
(4) Dharamshastra 210.What is the name of the traditional
three piece attire of Tamilian
205.Identify the famous personality of Girls?
Indian independence struggle. (1) Churidar kurta
(2) Pavadai Thavani
(3) Bandhgala
(4) Chaniya choli

211.Who laid out the first Mughal garden

in India? What was it called?
(1) Jahangir – Shalimar Bagh
(1) Justice Ranade (2) Akbar – Nishat Bagh
(2) Mahatma Gandhi (3) Babur – Ram Bagh
(3) Rabindranath Tagore (4) Shah Jahan – Mumtaz Bagh
(4) Dadabhai Naoroji
212.Which Indian President participated in
2 0 6 . T h e Indian National Army wa s the Irish Freedom Struggle a n d
founded in the year even served a jail term for the same?
(1) 1940 (2) 1941 (1) Dr. S Radhakrishnan
(3) 1942 (4) 1943 (2) V. V. Giri
(3) Neelam Sanjiva Reddy
207.Who was the first Muslim to be elected (4) Gulzarilal Nanda
President of the Indian National
Congress?
(1) M. A. Jinnah
(2) Maulana Azad
(3) Badruddin Tyabji
(4) Mohammed Ali
IC : PTpnsgk01 (109) of (202)
213.Which of the following South Indian 218.Where was the Great Bath of the
kingdoms arose out of the ruins of the Indus Valley civilisation found?
Mauryan Empire? (1) Mohenjodaro (2) Harappa
(1) The Chola (3) Lothal (4) Kalibangan
(2) The Pandyas
(3) The Satavahanas 219.At which place did Gautam Buddha
(4) None of these deliver his first lecture?
(1) Sarnath (2) Lumbini
214.Which Rashtrakuta ruler built the (3) Bodh gaya (4) Vaishali
famous Kailasha temple of Shiva at
Ellora?
220.Why was the Simon Commission
(1) Dantidurga boycotted by the Indians?
(2) Amoghavarsha-I (1) N o n e o f t h e I n d i a n s w e re i t s
(3) Krishna-I members.
(4) Khothiga (2) It was meant for the division of
India.
215.Identify the famous personality. (3) There was no representative of the
Labour party.
(4) It was headed by General Dyer.

221.Who was the founder of the Gupta

dynasty?
(1) Chandragupta I
(2) Chandragupta II
(3) Samudragupta
(1) Jawahar Lal Nehru (4) Kumaragupta
(2) Sardar Vallabhbhai Patel
(3) C. Rajgopalachari 222.Akbar sought the f riendship and
(4) Mahatma Gandhi cooperation of Rajputs to
(1) crush the Afghan revolt.
216.Who came to control the Indian (2) s t r e n g t h e n t h e f o u n d a t i o n o f
National Congress after the split of Mughal Empire in India.
1907? (3) marry a Rajput lady.
(1) Terrorists (2) Moderates (4) defeat foreign tribes invading India.
(3) Extremists (4) None of these
223.Shankaracharya, the founder of the
217.During which decade did the Indian Bhakti Movement, belonged to
population record a negative growth (1) Maharashtra (2) Assam
rate?
(3) Bengal (4) South India
(1) 1921-31 (2) 1911-21
(3) 1941-51 (4) 1919-29

(110) of (202) IC : PTpnsgk01

224.Which of the following was an 230.Which of the following is a correct
outstanding feature of the reign of chronological order of the given four
Shahjahan? dynasties?
(1) Conquest of Deccan (1) Lodhi-Tughlaq-Slave-Khilji
(2) All round prosperity (2) Tughlaq-Slave-Khilji-Lodhi
(3) Administrative reforms (3) Slave-Khilji-Tughlaq-Lodhi
(4) D e v e l o p m e n t of art and (4) Khilji-Slave-Lodhi-Tughlaq
architecture
231.Which of the following was the
225.Where, today, is the battlefield of Capital of Mysore during the reign of
Plassey located? the king shown in the picture?
(1) Bihar
(2) Arunachal Pradesh (1) Hyderabad
(3) Orissa (2) Bangalore
(4) West Bengal (3) Thane
(4) Srirangapatnam
226.The first Battle of Panipat was
fought between 232.In which year was the Battle of
(1) Sher Shah Suri and Akbar. Talikota fought?
(2) Humayun and Ibrahim Lodhi. (1) 1565 (2) 1526
(3) Babar and Ibrahim Lodhi. (3) 1586 (4) 1576
(4) Babar and Rana Sanga.
233.Which of the following was the capital
2 2 7. W h i c h o f t h e f o l l o w i n g p a i r s i s of Harsha’s empire?
correctly matched? (1) Ujjain (2) Kannauj
(1) 1767 – Battle of Buxar (3) Thanesar (4) Prayag
(2) 1793 – Permanent Settlement of
Bengal 234.Which of the following dynasties did
(3) 1918 – Jallianwala Bagh tragedy not rule the Vijayanagar Kingdom?
(4) 1 8 9 0 – F o u n d a t i o n o f I n d i a n (1) Soluva (2) Tuluva
National Congress (3) Hoysala (4) Aravida

228.Who defeated the Marathas in the 235.Who were the contemporaries of the
third Battle of Panipat? Gupta Kings in the South?
(1) Rajputs (2) Afghans (1) Cholas (2) Rashtrakutas
(3) Myghals (4) Sikhs (3) Satavahanas (4) Vakatakas

229.In which year w as the Battle of 236.Who was the Viceroy of India at
Haldighati fought? the time of formation of the Indian
(1) 1526 (2) 1576 National Congress?
(3) 1605 (4) 1660 (1) Lord Canning (2) Lord Dufferin
(3) Lord Mayo (4) Lord Elgin

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237.Which of the following dynasty was 244.Who among the following Governor-
w e l l - k n o w n fo r e x c e l l e n t v i l l a g e G e n e ra l s w a s a s s o c i a t e d w i t h t h e
administration? partition of Bengal?
(1) Pandyas (2) Pallavas (1) Lord Canning (2) Lord Dalhousie
(3) Cholas (4) Chalukyas (3) Lord Amherst (4) Lord Curzon

238...... was named Vikramaditya. 245.Which metal is generally mixed with

(1) Samudragupta(2) Chandragupta II gold to make ornaments?
(3) Bindusara (4) Ashoka (1) Zinc (2) Copper
(3) Aluminium (4) Platinum
239.Who was the famous Deccan Hindu
King who crossed the Bay of Bengal 246.Who initiated the move to form the
and conquered a number of states in Indian National Congress?
Sumatra, Java and Malaysia?
(1) A. O. Hume (2) W. C. Bonnerjee
(1) Rajendra I (2) Rajendra Chola
(3) Annie Besant (4) M. K. Gandhi
(3) Pulakesin (4) Mahipala II

247.He is known as American Novelist and

240.Who was the first King to conquer Critic, who also wrote Lolita (1955).
Malwa, Gujarat and Maharashtra? He was born in
(1) Samudragupta
(2) Skandagupta (1) Poland
(3) Chandragupta Maurya (2) Hungary
(4) Harshavardhana (3) Russia
(4) Cuba
241.The coronation of Shivaji was
performed at
248.Which of the following writers was a
(1) Raigarh (2) Aurangabad leading member of the Harlem
(3) Peshawar (4) Bundela Renaissance?
(1) Allen Ginsberg
242.When did Gandhiji launch the Quit (2) Henry Wadsworth Longfellow
India Movement? (3) Langston Hughes
(1) 1940 (2) 1942 (4) Louisa May Alcott
(3) 1941 (4) 1943

249.The American poet and novelist whose

243.Identify the famous old university. p o e m s a r e c h a r a c t e r i ze d b y t h e i r
experimental typography (most notably
in the avoidance of capital letters),
technical skill, frank vocabulary, and
(1) Nalanda the sharpness of his satire is
(2) Takshashila (1) Robert Frost
(3) Patliputra (2) Walt Whitman
(4) Vikramashila (3) E. E. Cummings
(4) Bret Harte

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250.He wrote Cat’s Cradle and 256.Name the verse that is excessively
Slaughterhouse-Five. Who is he? regular, monotonous and predictable in
rhythm and rhyme.
(1) Kurt Vonnegut (1) Blank verse (2) Doggerel
(2) Norman Mailer (3) Elegy (4) Sonnet
(3) James Baldwin
(4) Ralph Ellison 257. T h e B h a g a v a d G i t a m e a n s The
Lord’s Song in what language?
(1) Russian (2) Hungarian
251.In which Shakespearen play do the
characters Leontes, Hermione and (3) Latin (4) Sanskrit
Polixenes appear?
(1) The Taming of the Shrew 258. Tennyson’s The Charge of the
(2) Macbeth Light Brigade was based on an actual
event in which war?
(3) The Winter’s Tale
(1) World War II
(4) Romeo and Juliet
(2) The War of the Roses
(3) The Crimean War
252.In Ibsen’s, The Wild Duck, what is
the profession of Hjalmar Ekdal? (4) The Vietnam War
(1) Photographer
(2) Chef 259.What epic poem is set in the Trojan
War a n d h a s A c h i l l e s a s i t s h e r o
(3) Lumberjack leaving the battlefield in anger?
(4) Soldier (1) The Charge of the Light Brigade
(2) The Rime of the Ancient Mariner
253.Which play did Thornton Wilder (3) The Iliad
write?
(4) Kubla Khan
(1) The Skin of Our Teeth
(2) My Town
260.This poet feared that his poems incited
(3) Death of a Salesman
bloodshed during the Irish Rebellion.
(4) A Raisin in the Sun Who was he?

254.In which year did Arthur Miller won (1) W. B. Yeats

a Pulitzer Prize for his creation (2) Winston Churchill
Death of a Salesman?
(3) Bertrand Russell
(1) 1920 (2) 1985
(4) Thucydides
(3) 1949 (4) 1973

261.Diamond and Emerald are made of

255.Who did Abraham Lincoln call The
..... respectively.
little woman who started the Civil
War? (1) Carbon and Carbon
(1) Dorothy Thompson (2) Silica and Silica
(2) Louisa May Alcott (3) Silica and Beryllium
(3) Harriet Beecher Stowe (4) Carbon and Beryllium
(4) Sue Grafton

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262.Which of the following 268.Where on Earth will you observe the
Electromagnetic waves has the longest lowest speed of rotation?
wave-length?
(1) the Equator.
(1) Ultraviolet rays
(2) the Tropic of Capricorn.
(2) Light rays
(3) the Antarctic Circle.
(3) Gamma rays
(4) the South Pole.
(4) Infrared rays

263.The Green-Revolution involves the 269.Genealogy is the study of

use of high yielding varieties of seeds (1) lines of descent
which require
(2) genera
(1) less fertilizer and less water.
(3) animals
(2) more fertilizer and less water.
(4) species
(3) less fertilizer and more water.
(4) more fertilizer and more water.
270.This famous temple was built by the
Cholas. Identify the temple.
264.Light of the nearest star, excluding the
Sun, reaches Earth in
(1) 4.3 minutes (2) 4.3 seconds
(3) 44.3 years (4) 4.3 years

265.The weight of the body at the centre

of the earth is
(1) zero.
(2) infinite. (1) Shore Temple, Mahabalipuram
(3) s l i g h t l y m o re t h a n t h a t a t t h e (2) Brihadeeswara Temple, Thanjavur
surface. (3) Sun Temple, Konark
(4) s l i g h t l y l e s s t h a n t h a t a t t h e (4) Meenakshi Temple, Madurai
surface.

271.Which of the following is an example

266.Which one of the following elements
of a sedimentary rock?
forms the strongest acid?
(1) Iodine (2) Bromine (1) Basalt (2) Granite

(3) Chlorine (4) Fluorine (3) Sand Stone (4) Marble

267.Name the forest which is different from 272.Autecology is the ecological study of
the other three. (1) different species.
(1) Savannas (2) Campos (2) a particular species.
(3) Downs (4) Lianos
(3) an extinct species.
(4) an endangered species.

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273.Economically, the most important 279.The famous personality shown in the
forests of India are picture was from
(1) Tidal forests.
(2) Thorn forests. (1) Spain
(3) Evergreen forests. (2) Britain
(3) France
(4) Tropical deciduous forests.
(4) Italy

274.Polythene is industrially prepared by

280.Which country founded the first
the polymerisation of
Eur o p e a n s e ttl e m e n t i n t h e 1 6 th
(1) Methane (2) Acetylene century America?
(3) Ethylene (4) Styrene (1) Britain (2) Spain
(3) Portugal (4) France
275.Which of the following elements is
present in largest amount in rocks and 2 8 1 . N a m e t h e t r e a ty s i g n e d b e t w e e n
minerals? England, France and America by which
(1) Silicon (2) Carbon the English recognised America as an
independent nation.
(3) Hydrogen (4) Gold
(1) Treaty of London (1784)
(2) Treaty of Virginia (1785)
276.The ideology of Nazism is associated (3) Treaty of Paris (1783)
with
(4) Treaty of Jamestown (1786)
(1) Capitalism
(2) Democracy 282.What was the main issue of conflict
(3) Anti-Semitism between North and South America
during the Civil War?
(4) Secularism
(1) Slavery (2) Industries
(3) Plantation (4) Red Indians
277.With which period do we associate the
Megaliths?
283.What was the period of the American
(1) Neolithic Age
Civil War?
(2) Chalcolithic Age (1) 1865-1868 (2) 1868-1870
(3) Mesolithic Age (3) 1862-1868 (4) 1861-1865
(4) Pleistocene Age
284.In the year 1898, over which territory
278.Who introduced cashewnuts in India? did the USA went to war with Spain?
(1) The Portuguese (1) Cuba (2) Bahamas
(3) West Indies (4) Mexico
(2) The Dutch
(3) The British
285.When did USA enter First World
(4) The French War?
(1) 1914 (2) 1916
(3) 1917 (4) 1918

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286.Which architect created the
skyscraper in Chicago, which is
recognised as a distinctive
contribution to modern American
cities?
(1) Le Corbusier
(2) Walter Gropius
(3) Louis Sullivan
(4) Frank Llyod Wright
287.Which Japanese city used to be the
country’s capital before the capital
was shifted to Tokyo?
(1) Kyoto (2) Osaka
(3) Kamakura (4) Yokohama
288.Which European nation had the
maximum number of colonies before
the First World War?
(1) Germany (2) Britain
(3) France (4) Russia
289.Whom did the Germans blame for their
political confinement in the early 20 th
century?
(1) Austro-Hungarians
(2) Americans and British
(3) Japanese and Chinese
(4) French and British
2 9 0 . The murder of this person was the
immediate cause of the First World
War. Who is he?
(1) Archduke Francis Ferdinand
(2) Archduke Thomas Ferdinand
(3) King Francz Fredrick
(4) Prince Franz Fedinant
(116) of (202)
291.Where did First World War begin?
(1) Santa Monica (2) Sarajevo
(3) Sussex (4) Romania
292.Which nations were a part of the
Triple Entente?
(1) Britain, France and Russia
(2) Germany, Austria and Hungary
(3) France, Germany and Britain
(4) Russia, Britain and Italy
293.When did the First World War end?
(1) 1917 A.D. (2) 1918 A.D.
(3) 1919 A.D. (4) 1916 A.D.
294.World Development Movement, a
British group, is campaigning against
a proposed port in India. Where is the
port planned be set up?
(1) Gujarat (2) Goa
(3) Maharashtra (4) Karnataka
295.Who was TIME's person of the year
2004?
(1) Pervez Musharraf, Pakistan
(2) Donald Rumsfield, US
(3) George W Bush, US
(4) Bill Gates, Microsoft
296.Name the film that swept the 62 nd
Golden Globe Awards, winning three
out of five categories it was nominated
for.
(1) The Aviator
(2) Million Dollar Baby
(3) Being Julia
(4) Ray
297.This historian turned down the Padma
Award this year. Name him / her.
(1) Irfan Habib (2) R. S. Sharma
(3) Sumit Sarkar (4) Romila Thapar
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298.This journalist turned down the 304.In which discipline has the Nobel
Padma Award this year. Name him / Prize been awarded three times to
h e r. the same person / organization?
(1) Mark Tully (1) Medicine (2) Chemistry
(2) Vir Sanghvi (3) Physics (4) Peace
(3) Madhusudan Anand
(4) Kanaksan Deka 305.In the year ....., Nobel Priz e was
a wa rded to the International
Committee of the Red Cross o f
299.Who won the Tagore Peace Award, Geneva.
2004, of the Asiatic Society? (1) 1917 (2) 1944
(1) Dr. Manmohan Singh (3) 1963 (4) All the above
(2) Amartya Sen
(3) Sonia Gandhi 306.Where in India, would one find the
(4) None of these maximum population of Tigers?
(1) Himachal Pradesh
300.Till September 2005, a total of ..... (2) Madhya Pradesh
Nobel Prizes have been given. (3) West Bengal
(1) 770 (2) 550 (4) Tamil Nadu
(3) 897 (4) 200
307.In which of the following years was
Mother Teresa awarded the Nobel
301.He was the only person in histroy to Peace prize?
individually win two Nobel Prizes. Who
(1) 1989 (2) 1979
is he?
(3) 1969 (4) 1959

308.Indian climate can be called

(1) mediterranean type
(2) tropical monsoon type
(3) sub-tropical type
(4) equatorial
(1) John Bardeen
(2) Dr. Linus Carl Pauling 309.The sun shines vertically on the
(3) Madam Curie Equator
(4) Frederick Sanger (1) throughout the year.
(2) for six months.
302.Economics as a subject was included (3) twice a year.
in the Nobel Prize in the year (4) once a year.
(1) 1970 (2) 1968
(3) 1967 (4) 1969 310.World Environment Day is
observed on
(1) 5 th June.
303.In which year was the Nobel
(2) 15 th July.
Foundation set up?
(3) 10 th November.
(1) 1900 (2) 1901
(4) 8 th September.
(3) 1866 (4) 1899
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311.Which of the following is the hottest 317.World Bank is headquartered at
place in the world? (1) Berlin (2) Geneva
(1) Teheran, Iran
(3) Washington DC (4) Paris
(2) Jaisalmer, India
(3) Dallol, Ethopia
(4) Azizia, Libya 318.The World Health Organisation is
headquartered at

312.Which of the following has the (1) New York (2) London
lowest winter temperature in the (3) Geneva (4) Washington DC
world?
(1) O t t a w a (2) Mexico city 319.In which year did the first ministerial
(3) Moscow (4) Verkhoyansk conference of the World Trade
Organisation take place?
313.He was the first Indian to win the (1) 1996 (2) 1997
Nobel Prize. Who was he? (3) 1998 (4) None of these

320.Interpol is headquatered at
(1) Rome (2) Lyons
(3) Paris (4) None of these

321.International Committee of Red

Cross (ICRC) is headquatered at
(1) Dr. C.V. Raman
(1) Berlin (2) Prague
(2) Rabindranath Tagore
(3) Moscow (4) Geneva
(3) J. L. Nehru
(4) H. G. Khorana
322.The first Earth Summit was held at
(1) Buenos Aires.
314.Which of the following decides the
climate of a place? (2) Rio De Janeiro.
(1) its proximity to the sea. (3) Dar-es-salam.
(2) its altitude. (4) None of these
(3) latitude.
(4) All of the above 323.India is a member of
(1) SEATO (2) EEC
315.Which of the following climate’s is (3) OPEC (4) None of these
best suited for Horticulture?
(1) Equatorial (2) Mediterranean 324.Identify the logo
(3) Monsoon (4) Tundra
(1) U. N. O.
316.In which of the following regions (2) ASEAN
would you find the Mediterranean
(3) OPEC
type climate?
(4) G - 8
(1) Florida (2) California
(3) Central Asia (4) Hungary

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325.Amnesty International is 333.Identify the logo.
headquatered at
(1) Geneva (2) London (1) UNO
(3) Paris (4) New York (2) ASEAN
(3) SAARC
326.Which of the following UN agencies
has its H.Q. in Paris? (4) OPEC
(1) UNISEF (2) ILO
(3) UNESCO (4) FAO 3 3 4.Who w a s t h e first Chairman of
SAARC?
327.Which of the following day is observed (1) Mr. Ziaur Rehman
as Commonwealth Day by the (2) Lt. Gen. H.M. Ershad
member countries? (3) King Birendra
(1) Second monday of March (4) Mrs. Indra Gandhi
(2) Second monday of May
(3) Second monday of October 335.Which of the following is not a
(4) Second monday of April principal body of the UNO?
(1) Security Council
328.The International Court of Justice
(2) International Court of Justice
is headquatered at
(3) Trusteeship Council
(1) Hague (2) Geneva
(4) UNICEF
(3) Rome (4) Vienna

329.Dr. Boutros Boutros-Ghali took 336.The permanent Secretariat of

over as the Secretary General of the SAARC is established at
UNO in (1) Dhaka (2) Karachi
(1) December 1990 (3) Kathmandu (4) None of these
(2) January 1991
(3) January 1992 337.Jute requires hot and moist climate
(4) December 1991 with adequate amount of rain and rich
soil. Which of the following countries
is the leading jute producer?
330.How many judges are there in the
International Court of Justice? (1) Brazil (2) India
(1) 10 (2) 12 (3) Thailand (4) Bangladesh
(3) 15 (4) 20
338.Cocoa is a tropical plant and requires
331.How many official working languages heat and moisture. Which of the
are recognised by the UNO? fol lowing countries is the second
(1) 8 (2) 7 l a r g e s t p ro d u c e r o f C o c o a i n t h e
world?
(3) 6 (4) 5
(1) Brazil (2) Nigeria
332.What is the office term of an (3) Ghana (4) Ivory Coat
International Court of Justice
judge?
(1) 5 years (2) 6 years
(3) 9 years (4) 10 years
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339.For which of the following crops, is a 347.A First World War American army
black volcanic soil and tropical recruiting poster depicted Uncle Sam
climate (without excess rainfall) most pointing his finger at the viewer and
suitable? saying
(1) Bajra (2) Tobacco (1) Join or Die
(3) Cotton (4) Jute (2) I Want You
(3) United We Stand
340.Photosynthesis involves (4) Crunch the Kaiser
(1) oxidation of H 2 O and release of O 2 .
(2) reduction of CO 2 and oxidation of 348.Which of the following slogans was
H 2 O. used by the leading American company,
(3) reduction of CO 2 and release of O 2 . Pinkerton's Inc.?
(4) reduction of CO 2 , oxidation of H 2 O (1) We Never Sleep
and release of O2 . (2) A Diamond is Forever
(3) Don't Leave Home Without It
341.Which of the following countries is the (4) All the News That's Fit to Print
largest producer of Rubber?
(1) India (2) Indonesia 349.Identify the logo.
(3) Thailand (4) Malaysia
(1) GIC
342.Which of the folllowing countries is the (2) UTI
world’s largest producer of
sugarcane? (3) LIC

(1) India (2) Pakistan (4) None of these

(3) Indonesia (4) Mauritius

350.All except one of the following lines is
associated with American political
343...... is the leading producer of Potash. figures. The odd one is by a European
(1) China (2) India figure. Identify it.
(3) USA (4) Canada (1) Peace in our time
(2) The buck stops here
344.Groundnut crop is the monopoly of (3) He kept us out of war
(1) Indonesia (2) Bangladesh (4) Tippecanoe and Tyler too
(3) Pakistan (4) India
351.The slogan Fifty-four forty or fight
referred to the boundary
345.Which continent leads in contribution
(1) of East and West Berlin
to world's rice production to the
maximum and by how much? (2) of the Oregon Territory
(1) Australia (50%)(2)Africa (42%) (3) of south Texas and Arizona
(3) Asia (90%) (4) Asia (72%) (4) between North and South Korea

352.Peace to the huts and war upon

346.Bamboo is a type of
the palaces was a slogan given by
(1) grass (2) herb
(1) Lenin (2) Attila
(3) shrub (4) t r e e
(3) Napoleon (4) Confucius
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353.Who led Texans into battle with this (1) Bank of Baroda
motto? (2) Birla Sun Life Insurance
Remember the Alamo! (3) Bridgestone Ltd.
(1) Jim Bowie (4) Bharat Heavy Electricals Ltd.
(2) Sam Houston
(3) Davy Crockett 360.Redefining Fashion is the punchline
(4) William Travis of
(1) Provogue (2) Gucci
354.With which president was this slogan (3) Adidas (4) L'Oreal
associated?
He kept us out of war 361.Taste that speaks for itself is the
(1) Woodrow Wilson punchline of
(2) Abraham Lincoln (1) Aristocrat Whiskey
(3) Warren Harding (2) Seagram Blenders Pride
(4) James Monroe (3) Officer's choice
(4) None of these
355.Who would have been most likely to
u t t e r t h i s m o tt o i n 1 8 6 1 ? O n t o 362.Which of the following uses the
Richmond p u n c h l i n e , For those who seeks
(1) Braxton Bragg perfection?
(2) George Pickett (1) Daikin AC (2) Whirlpool
(3) Irvin McDowell (3) Voltas Vertis (4) Hitachi AC
(4) James Longstreet
363.Fly the good times is the punchline
356.The Indian Multinational is a of
punchline of (1) Kingfisher Airlines
(1) Videocon (2) BPL (2) Thai Airways
(3) Titan (4) HMT (3) Air Deccan
(4) Air India
357.The Taste of India is a punchline of
(1) Nestle (2) Britannia 364.What is the punchline of BBC World?
(3) Parle (4) None of these (1) Putting news first
(2) Making sense of it all
358.Which of the following brand uses the (3) Be the first to know
punchline AC's with I. Q. (4) News for you
(1) LG (2) Samsung
(3) Voltas Vertis (4) Whirlpool 365.A friend you can bank upon is the
punchline of which financial institution?
359.This is a new logo adopted by (1) IDBI
(2) Lord Krishna Bank
(3) HDFC
(4) Vijaya Bank

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366.Which group has launched the 372.Which one of the following companies
magazine Cosmopolitan in India? has published the novel The Insider
(1) The Times of India written by P. V. Narasimha Rao?
(2) The Hindustan Times (1) Penguin (2) Viking
(3) Living Media (3) Harper Collins (4) Rupa
(4) The Tribune
373.Who is the editor of the woman’s
magazine New Woman?
367.From which state is the newspaper
The Mathrubhumi published? (1) Hema Malini (2) Shubha De
(1) Tamil Nadu (2) Kerala (3) Arundhti Roy (4) None of these
(3) Karnataka (4) Gujrat
374.The venue of Lakme India Fashion
2005 was
368.Which newspaper group has launched
magazine Vanitha? (1) Kolkata (2) Mumbai
(1) Malayalam Manorma (3) New Delhi (4) Bangalore
(2) Anand Bazar Patrika
(3) Deccan Herald 375.Channel 7 is the name of the news
channel that belongs to the stable of
(4) The Times of India
(1) Living media group
(2) Jagaran group
369.Which famous news magazine in the
US is owned by The Washington (3) Zee group
Post company? (4) Star group
(1) Time (2) Fortune
(3) USA Today (4) Newsweek 376.Play TV is the name of an interactive
gaming TV channel that belongs to the
stable of
370.The logo belongs to which famous
Newspaper? (1) Times group (2) Star group
(3) Essel group (4) Sony TV

377.Mumbai Mirror is the name of the

recently launched daily in Mumbai. This
newspaper belongs to the stable of
(1) Times of India Group
(1) The Times of India
(2) Indian Express Group
(2) The Hindu
(3) Hindu Group (4) None of these
(3) Hindustan Times
(4) Amrit Bazar Patrika
378.Acc o rding to the Audit B u reau of
Circulation, which of the following is
371.Satyajit Ray’s last film was the world’s largest selling English
(1) Agantuk (2) Mahanagar newspaper?
(3) Ghare Baire (4) Apur Sansar (1) The Guardian
(2) The Times of India
(3) The Wall Street Journal
(4) USA Today
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379.India’s most Wanted’s string 387.Pillars of Hercules is the nick name
operation caught Shakti Kapoor of
seeking sexual favours. Which channel (1) Venice
telecast the programme?
(2) Straits of Gibraltar
(1) Zee TV (2) India TV
(3) Natal
(3) Aaj Tak (4) None of these
(4) None of the above

380.Which among the following is Indian’s

surface-to-air missile? 388.The ….. is referred to as the Isle of
Dogs.
(1) Agni (2) Prithvi
(1) Canaria Insula
(3) Trishul (4) Nag
(2) Channel Island
(3) Cape Verde Islands
381.Which country is known as the Land
of the Rising Sun? (4) Cayman Island
(1) Japan (2) Norway
(3) Ireland (4) Thailand 389.Which of the following is not a fibre
crop?
(1) Rubber (2) Cotton
382.Chicago is known as the
(3) Jute (4) Flax
(1) Windy city (2) Monsoon city
(3) City of records(4) None of these
390.What is the approximate length of the
Great Wall of China?
383.Guinea Coast of Africa is
(1) 2000 km (2) 2500 km
(1) Whiteman’s grave
(3) 3000 km (4) 6700 km
(2) Empire city
(3) Emerald city
391.The painter of Mona Lisa belonged
(4) Land of Daffodils to
(1) Italy (2) Paris
384.Land of Maple Leaves is the nick (3) France (4) Russia
name of
(1) New York (2) Canada
392.Hammer and Sickle was the national
(3) Malta (4) Ireland emblem of
(1) United States (2) France
385.Where is the Dutch of Indies? (3) Former USSR (4) Japan
(1) West Indies (2) Hawaii Island
(3) Indonesia (4) Netherlands 393.Reuter is the news agency of
(1) United States (2) United Kingdom
386.Which of the following is known as the (3) India (4) Germany
City of Golden Gate?
(1) Amritsar in India
394.If Indian Airlines is coded IC, what is
(2) San Francisco in USA the code for Jet Air-ines?
(3) London in England (1) 9 W (2) W 9
(4) None of the above (3) J W (4) J 9

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395.Who popularised the term 402.Which company manufactures the
Industrial Revolution? Dettol range?
(1) Arnold Toynbee (1) Reckitt & Colman
(2) Lincoln (2) Bennet & Coleman
(3) Stalin (3) Johnson & Johnson
(4) Winston Churchill (4) Procter & Gamble

396.To what kind of products is the Eco 403.Which country was host to the first
Mark given? Soccer World Cup?
(1) Rich in proteins (1) Brazil (2) Uruguay
(2) Environment friendly (3) England (4) Spain
(3) Economically valuable
(4) Dangerous to the environment 404.The French Revolution gave rise to
the theory of
397.What does FMCG stand for?
(1) Communism (2) Nationalism
(1) Fast Moving Consumer Goods
(3) Democracy (4) Socialism
(2) Fast Market Consumer Goods
(3) First Market Corporate Game
405.Who emerged as a great leader in
(4) Fast Moving Corporate Goods F ra n c e a s a re s u l t o f t h e French
Revolution?
398.In which television channel does actor (1) Voltaire
Jackie Shroff have a stake?
(2) Napoleon Bonaparte
(1) Sony Entertainment Television
(3) Karl Marx
(2) Sahara TV
(4) None of these
(3) Star TV
(4) Zee TV
406.Which of the following battles was not
fought by Napoleon?
399.Which car in Spanish means
Charming? (1) Battle of Waterloo

(1) Matiz (2) Santro (2) Battle of Trafalgar

(3) Lancer (4) Icon (3) Battle of the Jutland

(4) Battle of Leipzig
400.How many stock exchanges are there
in India? 407.To which of the following countries did
(1) 22 (2) 42 Karl Marx belong?
(3) 14 (4) 30 (1) Germany (2) Russia
(3) Italy (4) England
401.Which international airline uses the
slogan Smooth as Silk in its
advertisements? 408.Boston Tea Party is associated with
the
(1) Cathay Pacific
(1) French revolution
(2) Thai Airways
(2) Russian Revolution
(3) Singapore Airlines
(3) Independence of Egypt
(4) Qantas
(4) American Independence
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409.Satanic Verses was written by 417.Day and night are equal at the
(1) Salman Rushdie (1) Poles (2) Equator
(2) Jhumpa Lahiri (3) Prime Meridian (4) Antarctic
(3) Amitav Ghosh
(4) Amrita Pritam 418.The chief constituent of gobar gas is
(1) Methane (2) Ethane
410.The God of Small Things brought (3) Butane (4) Propane
fame to
419.Gelatin is added to ice cream to
(1) Vikram Seth (2) Arun Shouri
(1) Hasten freezing
(3) Arundhuti Roy (4) Jhumpa Lahiri
(2) Avoid crystal formation
(3) Give flavour and taste
411.Who wrote Discovery of India?
(4) None of these
(1) Jawaharlal Nehru
(2) M. K. Gandhi
420.Permanent hardness of water is due
(3) Rajendra Prasad to the presence of
(4) Dr. B.R. Ambedkar (1) Calcium bicarbonate
(2) Sodium bicarbonate
412.Sunny Days was written by (3) Calcium sulphate
(1) Adam Smith (2) Gulzar (4) Magnesium bicarbonate
(3) Sunil Gavaskar(4)Kuldip Nayar
421.Which of the following is a non-ferrous
metal?
413.The equatorial radius of the earth is
approximately (1) Cobalt (2) Aluminium
(1) 12,700 km (2) 6,900 km (3) Nickel (4) Iron
(3) 6,400 km (4) 11,600 km
422.Atomic weight of uranium is
(1) 237 (2) 238
414.The lay er of atmosphere close to
earth’s surface is called (3) 226 (4) 242
(1) Exosphere (2) Ionosphere
423.Which of the following gases is used
(3) Stratosphere (4) Troposphere in cigarette lighters?
(1) Butane (2) Methane
415.The most abundant element in the (3) Propane (4) Radon
earth’s atmosphere is
(1) Argon (2) Nitrogen 424.Nilgiri Hills are known as
(3) Oxygen (4) Krypton (1) Roof of the World
(2) Blue Mountains
416.The greatest mass of ice on the earth (3) Tea Treasure
is found in
(4) None of these
(1) Canada (2) Siberia
(3) Antarctica (4) Greenland 425.Riyal is the currency of
(1) Romania (2) Saudi Arabia
(3) Japan (4) Libya
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426.Which of the following countries is 433.The name of which Japanese company
not grouped with the Caribbean? literally means 50 Bells?
(1) Cuba (2) Barbados (1) Isuzu (2) Hyundai
(3) Jordan (4) Angullia (3) Ikon (4) Hitachi

427.Who w as the first to classif y the 434.In 1980 which country did India beat
Seven Wonders of the Ancient World? to win the gold medal in hockey?
(1) Aristotle (2) Plato (1) Spain (2) Germany
(3) Antipater (4) Socrates (3) Pakistan (4) England

428.The largest temple in the world is

4 3 5 . I n w h i c h s p o r t a re c o m p e t i t o r s
(1) Meenakshi Temple
forbidden to play left-handed?
(2) Angkor Vat Temple
(1) Cricket (2) Golf
(3) Temple of Varanasi
(3) Squash (4) Polo
(4) Temple in Lumbini

436.Malcom Marshal is associated with

429.The world’s largest airport is
which sport?
(1) K i n g A b d u l A z i z I n t e r n a t i o n a l
(1) Basketball (2) Boxing
Airport at Jeddah
(3) Volleyball (4) Cricket
(2) International Airport at New York
(3) In t e r n a t i o n a l A i r p o r t a t U n i t e d
States 4 3 7. I n w h i c h s p o r t d o e s o n e u s e a
Shuttle?
(4) None of these
(1) Fencing (2) Badminton
430.The New York version of the Statue (3) Tennis (4) Canoeing
of Liberty was engineered by
(1) Alexandre Gustave Eiffel 438.The Treaty of Versailles was signed
(2) Henry Smith in
(3) Sir Edwin Lutyens (1) 1914 (2) 1920
(4) None of these (3) 1928 (4) 1919

431.Which industrialist began his career 439.The first atom bomb was dropped on
as an attendant for Burmah Shell Gas Hiroshima on
in Aden (Yemen)?
(1) August 6, 1945
(1) J. R. D. Tata
(2) August 9, 1945
(2) Henry Ford
(3) August 9, 1939
(3) Dhirubhai Ambani
(4) September 1, 1945
(4) Shubroto Roy

432.If IBM is the Big Blue, Coca Cola 440.With which war is the name of
the Big Red, what is Big Black? Florence Nightangale associated?
(1) Adidas (1) World War I
(2) United Parcel Service (2) World War II
(3) Bacardi Breezer (3) Crimean War
(4) A x e (4) Battle of Leipzig
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441.Philology is the 449.Which one of the following is the
(1) Study of bones largest lake in the world?
(2) Study of muscles (1) Lake superior (2) Caspian sea
(3) S t u d y o f ancient texts and (3) Lake Baikal (4) Lake Victoria
languages
(4) Study of architecture 450.The mirror placed near the driver of
a bus is?
442.Meteorology is the study of (1) Plane mirror
(1) Weather (2) Meteors (2) Convex mirror
(3) Metals (4) Earthquakes (3) Concave mirror
(4) Cooling mirror
443.Oncology is the study of
(1) Cancer (2) Birds 451.Which is the longest railway platform
in India?
(3) Soil (4) Mammals
(1) Calcutta (2) Mumbai
(3) Sonepur (4) Kharagpur
444.Numismatics is the study of
(1) Numbers
452.Which premium international range of
(2) Stamps luggage was recently launched in India
(3) Coins and Paper Money by BlowPlast?
(4) Space (1) Samsonite
(2) Strolley
445.Ornithology is the (3) American Tourister
(1) Study of bones(2) Study of birds (4) Delsey
(3) Study of smells(4) None of these
453.Hero Global is a venture promoted
446.Night blindness is caused by the by the Munjal group
lack of (1) t o m a r k e t H e r o H o n d a t w o
(1) Vitamin C (2) Vitamin B wheelers in the overseas market.
(3) Vitamin A (4) None of these (2) to sell Hero bicycles in the overseas
market.
(3) to build a automobile design lab of
447.Santosh Trophy is associated with?
international repute.
(1) Hockey (2) Football
(4) to set up company owned dealer
(3) Weightlifting (4) Tennis network in India.

448.Which of the following tax provides the 454.Which one of the following partnership
maximum revenue to the government in the domestic insurance sector is
of India? incorrect?
(1) Individual income tax (1) HDFC – Standard Life
(2) Excise duty (2) Birla – Sun Life
(3) Custom duty (3) Tata – Allianz
(4) Wealth tax (4) Max – New York Life

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455.Which Indian woman was recently 462.Marshal Tito was
included in the Fortune magazine’s (1) President of Egypt
global list of 50 most powerful women
in business? (2) A hero of the World War II

(1) Lalita Gupte (3) President of Yugoslavia

(2) Meena Venkatesh (4) None of these

(3) Rama Bijapurkar

463.There were two Stevens in the
(4) Tina Ambani making of Apple Computer co. One
was Steven Jobs. What was the other
456.Which French King was known as the Steven’s last name?
Sun King? (1) Macintosh (2) Apple
(1) King Charles V (3) Wozniak (4) Jones
(2) King Francis II
(3) King Louis XIV 464.The lubricant, popularly known as Lal
Ghoda is owned by
(4) King Louis XVI
(1) IOC (2) ONGC
(3) HPCL (4) Shell
457.Who was the last Emperor of China?
(1) (Henry) Pu-Yi (2) Chiang Kai Shek
4 6 5 . T h e fo u n d e r c h a i r m a n o f Apollo
(3) Mao Zedong (4) Sun Yat-Sen Tyres was
(1) Adi Godrej
458.The Nobel Prize was given for the (2) N. A. Palkhiwala
first time in the year
(3) Raunaq Singh
(1) 1901 (2) 1910
(4) Manohar Rajaram Chhabria
(3) 1911 (4) 1912
466.Which company’s roots stretch back
459.The HQ of the International to Alexander Graham Bell, in 1875
Olympic Committee is located at the inventor of telephone?
(1) Olympia, Athens (1) American Express
(2) Lausanne, Switzerland (2) AT & T
(3) Paris, France (3) Vodafone
(4) New York, USA (4) Panasonic

460.When were the first Commonwealth 467.Vatican City has the largest church,
Games held? built in 1492-1612. Name it.
(1) 1948 (2) 1930 (1) St. Anne’s Church
(3) 1934 (4) 1945 (2) St. Peter’s Basillica
(3) Church of St. Aloysius Gonzaga
461.The term Bogey is associated with (4) St. Peter’s Church
(1) Tennis (2) Golf
468.Battle of Haldighati was fought in
(3) Baseball (4) Chess
the year
(1) 1576 (2) 1756
(3) 1657 (4) 1765

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469.East India Company was 4 7 6 . T h e f i r s t c o n f e re n c e o f I n d i a n
established in the year National Congress was held at?
(1) 1574 (2) 1857 (1) Bombay in 1885
(3) 1600 (4) 1747 (2) Madras in 1886
(3) Calcutta in 1885
470.Pitt’s India Act was passed in the (4) Madurai in 1887
year
(1) 1792 (2) 1790 477.An underground room where wine
(3) 1786 (4) 1784 is stored is known as
(1) Storeroom (2) Room
471.In which year did the first railway line (3) Cellar (4) Wine shop
open between Bombay and Thane as
well as a telegraph line in Calcutta
478.Which of the following plants of the
(1) 1852 (2) 1853 Indian Railways is located at
(3) 1857 (4) 1876 Kapurthala?
(1) Integral coach factory
472.The Indian National Congress was (2) Wheel and axle plant
founded in the year (3) Rail coach factory
(1) 1885 (2) 1888 (4) Diesel component works
(3) 1897 (4) 1899
479.Fungal garden is found in
473.Arrange the following four densely (1) Termite hill (2) Bird’s nest
populated states in decreasing order:
(3) Honeycomb (4) Wasp nest
i) Bihar ii) Kerela
iii) West Bengal iv) Uttar Pradesh
480. Allen Solly is a brand owned by
(1) 3, 1, 2, 4 (2) 4, 3, 2, 1 which group of Companies?
(3) 4, 1, 3, 2 (4) 4, 2, 3, 1 (1) Tata Group
(2) Madura Garments
474.What is the sex ratio in India? (3) Arvind Mills Group
(1) 829/1000 (2) 933/1000 (4) A. V. Birla Group
(3) 788/1000 (4) 879/1000
481.India’s first Electric Car is known as
475.President of India may make a (1) Reva (2) Mewa
reference to the Supreme Court of
India on a matter of public importance (3) Bewa (4) Mova
for an authoritative legal opinion under
(1) Original jurisdiction 482.India’s weightage in Morgan Stanley
Capital International (MSCI) index
(2) Advisory jurisdiction
has been cut to
(3) Constitutional jurisdiction
(1) (4)4 (2) 5 . 5
(4) Appellate jurisdiction
(3) 6 . 5 (4) 7.0

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483.Who was the author of the famous 490.Bank rate is
storybook ‘Alice’s Adventures in (1) the rate at which commercial banks
Wonderland’? lead.
(1) Lewis Carroll (2) Rudyard Kipling (2) the rate at which commercial banks
(3) John Keats (4) H.G. Wells accept deposit.
(3) the rate at which the central bank
484.Who wrote ‘Where ignorance is lends to commercial banks.
bliss, it is folly to be wise’? (4) None of the above
(1) Robert Browning
(2) Karl Marx 491.Which one of the following countries
(3) William Shakespeare has the map of that country in its
(4) Rudyard Kipling national flag?
(1) Colombia (2) Congo
485.The book ‘Fifty Years in Cricket’ is (3) Cuba (4) Cyprus
written by
(1) Sir Len Hutton 492.Anaemia is caused in man due to the
(2) Greg Chappel deficiency of
(3) Wes Hall (1) Folic acid (2) Vitamin A
(4) Walt Gregory (3) Vitamin B (4) Iron

486.How many Oscars did ‘Gone with the 493.The name of Jahangir as a prince was
Wind’ win?
(1) Shah Jahan (2) Salim
(1) Eight (2) Nine
(3) Dara (4) Mirza
(3) Ten (4) Eleven

494.The paintings of Ajanta and Ellora

4 8 7. W h i c h m o v i e w a s I n d i a ’s s e c o n d are made out of
talkie?
(1) Plant dyes
(1) Achut Kanya
(2) Chemical dyes
(2) Ghar Ki Lakshmi
(3) Imported foreign dyes
(3) Pather Panchali
(4) All of the above
(4) Mahanadi

488.Alma ata is the capital of 495.Identify the photograph.

(1) Lithunia
(2) Tadzhikistan (Tajikistan)
(3) Kazakhstan
(4) Uzbekistan

489.X-rays are not deflected in electric

and magnetic fields because they are
(1) charged particles. (1) George Bush
(2) electromagnetic waves. (2) Saddam Hussein
(3) moving with high velocity. (3) Yasser Arafat
(4) hard rays. (4) Shaikh Abdullah
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496.Fish plates in railway tracks are used 502.Who among the following has been
to elected new Secretary-General of the
(1) connect two rails. United Nations?
(2) join two coaches. (1) Shashi Tharoor(2) Ban Ki-moon
(3) guide the wheels. (3) Kofi Annan (4) None of these
(4) avoid fishes on tracks.
503.Which of the following places was the
venue for the 16th International AIDS
497.The purpose of choke in tube light
Conference?
is
(1) Davos (2) New Delhi
(1) to increase the current.
(3) Shanghai (4) Toronto
(2) to heat the gas inside the tube.
(3) to limit the current flow through the
tube. 504.Who among the following is the winner
of the Rajiv Gandhi Khel Ratna award
(4) t o increase the voltage for the year 2005?
momentarily.
(1) Shikha Tandon
(2) Anju Bobby George
498.When a body is taken from earth to
moon, its weight will (3) Pankaj Advani
(1) decrease (4) Rahul Dravid
(2) increase
(3) remain the same 505.Which of the following is the first
spacecraft sent by Europe to the
(4) slightly increase moon?
(1) SMART-1 (2) Atlantis
499.Identify the photograph. (3) Huygens (4) Discovery

(1) George Bush 506.Who among the following is the author

(2) Yasser Mahmud of the book Sacred Games?
(3) Mahmud Abbas (1) Jaswant Singh
(4) Saddam Hussein (2) Arundhati Roy
(3) Vikram Chandra
500.Name of the book written by the (4) Jhumpa Lahiri
famous cricket player Imran khan is
(1) Sandy Storm 507.‘Gladiator’ is a bike model from
(2) Sunny Days (1) Bajaj (2) Yamaha
(3) Indus Journey (3) Honda (4) TVS
(4) Wasim

508.Who among the following is the winner

501.Who among the following authors has of the men’s singles title of the US
been awarded the Man Booker Prize for Open 2006?
the year 2006? (1) Roger Federer
(1) J. K. Rowling (2) Arundhati Roy (2) Andy Roddick
(3) Kiran Desai (4) Jhumpa Lahiri (3) Marat Safin
(4) Lleyton Hewitt
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509.Who is the Chairman of the National 515.In which of the following States has
Knowledge Commission? the ADAG group decided to set up a
(1) Arjun Singh 12,000 MW thermal power plant?
(2) Manmohan Singh (1) Orissa (2) Jharkhand
(3) Sam Pitroda (3) Bihar (4) West Bengal
(4) Dr. C. Rangarajan
516.Which of the following days is
celebrated as World Tourism Day?
510.Which of the following places was the
venue for the recently held G-8 (1) September 2 (2) September 27
Summit? (3) October 13 (4) October 24
(1) New York (2) St. Petersburg
(3) Moscow (4) Paris 517.Who among the following has been
appointed as the new Chairman of
State Bank of India?
511.Who among the following has won the
International Cosmos Prize for the year (1) A.K. Purwar (2) Y.V. Reddy
2006? (3) O.P. Bhat (4) A.K. Puri
(1) Arvind Kejriwal
(2) M.S. Swaminathan 518.Who among the following has been
(3) Raman Sukumar voted as MTV Youth Icon for the Year
2006?
(4) None of these
(1) M.S. Dhoni
(2) Shah Rukh Khan
512.Who among the following has been
crowned Miss Universe for the year (3) Rahul Dravid
2006? (4) Anil Ambani
(1) Zuleyka Rivera Mendoza
(2) Kurara Chibana 519.Which of the following companies has
(3) Lauriane Gillieron tied up with Mittal Steel to become the
largest steel company in the world?
(4) None of these
(1) Posco (2) Severstal
(3) Arcelor (4) Tata Steel
513.Which of the following countries has
been admitted as the newest (192nd)
member of the United Nations? 520.The Akari space telescope was
(1) Switzerland (2) Montenegro launched by which of the following
countries?
(3) Cameroon (4) Malawi
(1) Russia (2) Japan
(3) South Korea (4) China
514.Which of the following PSUs has
won the SCOPE Award for the year 2004-
05? 521.Which of the following is the highest
railway station in the world?
(1) SAIL (2) MTNL
(1) Lhasa (2) Naqu
(3) BSNL (4) GAIL
(3) Kalimpong (4) Santiago

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522.In which of the following States of 529.Who among the following has won the
India is the Similipal Biosphere Reserve Prem Bhatia Memorial Trust Journalism
located? Award 2006?
(1) Orissa (2) West Bengal (1) Navika Kumar
(3) Punjab (4) Karnataka (2) Barkha Dutt
(3) Praveen Swami
523.With which of the following sports is (4) Rajdeep Sardesai
Saina Nehwal associated?
(1) Lawn Tennis (2) Snooker 530.Who among the following is a recipient
(3) Badminton (4) Archery of the UN Population Award for the year
2006?
524.Who among the following is the winner (1) Dr. H. H. Akhter
of the Orange Prize 2006 for fiction? (2) Cristina Macaya
(1) J.K. Rowling (2) Arundhati Roy (3) Ela Bhatt
(3) Elfriede Zelinek (4) Zadie Smith (4) Dr. Raj Kumari Gupta

525.Who among the following has been 531.CBDT stands for

appointed as the new Chief Election (1) Central Board of Direct Taxes
Commissioner?
(2) Central Bureau of Direct Tariffs
(1) B.B. Tandon
(3) Central Board of Direct Trades
(2) S.Y. Quraishi
(4) None of these
(3) N. Gopalaswami
(4) G.V.G. Krishnamurthy
532.Who among the following has been
elected new Chief Minister of Assam?
526.Which of the following buildings is the (1) Tarun Gogoi
tallest habitable building in the world?
(2) Buddhadeb Bhattacharjee
(1) Sears Tower
(3) Gegong Apang
(2) Petronas Towers
(4) Prafulla Mahanta
(3) Taipei 101
(4) Bank of China Tower
533.What is the new base year for
measuring inflation under the All India
527.Who among the fo l lowing sports- Consumer Price Index for Industrial
p e r s o n s h a s b e e n n a m e d L a u re u s Workers?
World Sportsman of the Year 2006? (1) 2001 (2) 1982
(1) Rafael Nadal (2) Ronaldinho (3) 1992 (4) 2000
(3) Rahul Dravid (4) Roger Federer
534.Which of the following places was the
528.Which of the following is the correct venue of the 18th Commonwealth
expansion of the acronym CRY? Games in 2006?
(1) Child Relief and You (1) Melbourne (2) Edmonton
(2) Child Rights and You (3) Hamilton (4) Manchester
(3) Croatian Reformative Youth
(4) None of these

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535.Which of the following is the coldest 543.Which of the following Indian
place on the Earth ? companies has been placed in the first
(1) Vostok (2) Oymyakon position by the Forbes magazine?
(3) Verkhoyansk (4) Mayo (1) ONGC (2) Tata Steel
(3) Reliance (4) Wipro
536.Which of the following countries has
won the FIFA World Cup 2006? 544.At which of the following positions has
(1) Germany (2) Italy been India ranked as a tourist
destination, according to the Conde
(3) France (4) Brazil
Nast Readers’ Travel Awards?
(1) First (2) Fourth
537.Who among the following was the (3) Sixth (4) Tenth
founder of the Lodi dynasty?
(1) Sikander Lodi (2) Bahlul Lodi
545.At which of the following positions is
(3) Ibrahim Lodi (4) None of these India ranked in the list of the wealthiest
nations of the world in the year 2005?
538.Which among the following is India’s (1) Sixth (2) Eighth
first indigenously developed missile? (3) Twelfth (4) Twentieth
(1) Akash (2) Prithvi
(3) Agni (4) Trisul
546.Which one of the following companies
is associated with the exploration and
539.Which of the following countries was commercial production of oil in Barmer-
not a part of the erstwhile USSR? Sanchore basin of Rajasthan?
(1) Ukraine (2) Yemen (1) Cairn Energy
(3) Moldova (4) Azerbaijan (2) Unocal Corporation
(3) Reliance Energy Ventures
540.Where are the headquarters of the (4) ONGC
UNICEF located?
(1) New York (2) Washington DC 5 4 7. R e c e n t l y w i t h w h i c h c o u n t r y ’s
(3) Geneva (4) Paris government did ONGC-Mittal Energy
Limited (OMEL) sign a joint venture
deal of $6 billion dealing with
541.Who among the following has been infrastructure, refinery and power?
ranked No. 1 in the Forbes’ list of top
(1) Colombia (2) Venezuela
100 Most Powerful Women for the year
2006? (3) Nigeria (4) Saudi Arabia
(1) Sonia Gandhi (2) Condoleezza Rice
(3) Wu Yi (4) Angela Merkel 548.Which one of the following airports in
India is the first to be owned by a
public limited company?
542.USP (Unique Selling Proposition) is a
(1) Dabolim Airport, Goa
well known marketing term. Who coined
it? (2) Cochin Airport
(1) Philip Kotler (2) Rosser Reeves (3) Hyderabad Airport
(3) K. K. Birla (4) Michael Porter (4) Bangalore Airport

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549.Which one of the following companies 555.The ad-line ‘Good people to bank
has started a rural marketing network with’ is associated with
called ‘e-chaupals’? (1) Punjab National bank
(1) ITC (2) Dabur (2) State Bank of India
(3) P & G (4) Hindustan Lever (3) CitiBank
(4) Union Bank of India
550.The ad line ‘Connecting India’ is linked
with
556.‘Fair and Lovely’ range of products
(1) BSNL (2) Airtel was launched by
(3) MTNL (4) Hutch (1) P & G
(2) Lakme
551.Special Drawing Rights are allocated (3) Hindustan Lever
to the members of which of the
following organisations? (4) Godrej

(1) World Bank (2) IFC

(3) IMF (4) WTO 5 5 7. T h e s l o g a n ‘ L i v e y o u r d r e a m ’ i s
associated with which company?
(1) Liberty (2) Bata
552.Which one of the following statements
(3) Reebok (4) Woodland
is correct?
(1) A l l i a n c e A i r i s a w h o l l y - o w n e d
subsidiary of Indian Airlines 558.Which company has introduced ‘Dura
(2) The Airports Authori ty of India Technology’ in building cars?
manages seven of the country’s (1) Ford (2) Mitsubishi
international airports (3) GM (4) Maruti-Suzuki
(3) The Airports Authority of India is
the regulatory organisation for
559.Real Juices are products of which
enforcing civil air regulations in
company?
India
(1) Nestle (2) Dabur
(4) It is the function of Directorate
General of Civil Aviation to plan and (3) ITC (4) None of these
construct runways and terminal
buildings and to provide air safety 560.Mittal Steel, the largest steel maker
services in the world, has signed a MOU with
which State Government for setting up
553.British Petroleum recently signed an a steel plant as well as undertaking
agreement with ..... for jointly building mining operations?
a refinery and rolling out retail outlets (1) Chhattisgarh (2) Bihar
in the Indian oil refining and marketing (3) West Bengal (4) None of these
industry.
(1) BP (2) Indian oil
561.Which airline displays the tag line,
(3) HPCL (4) IBP “There is no better way to fly”?
(1) Lufthansa
554.Aquaguard water purification systems (2) British Airways
are the products from
(3) Singapore Airlines
(1) Kenstar (2) Voltas
(4) Air India
(3) Bluestar (4) None of these
IC : PTpnsgk01 (135) of (202)
562.‘Georgia Gold’ brand of hot or cold 570.Lorenz curve is a graph which visually
beverages belongs to which company? presents a measure of
(1) Pepsi (2) Nestle (1) The inequality of a nation’s income
(3) HLL (4) Coca-Cola distribution
(2) The trend of inflation in the country
563.Apple computers Inc. was started by (3) T h e d e m o g ra p h i c s t a g e o f t h e
which of the following entrepreneurs? country
(1) Jack Welsch (2) Bill Gates (4) T h e e c o n o m i c g r o w t h o f t h e
country
(3) Steve Jobs (4) None of these

571.Which company has introduced 91-

564.Procter and Gamble took over which Octane petrol EXTRAPREMIUM in
famous brand recently? India?
(1) Revlon (2) Vicks (1) BPCL (2) Indian Oil
(3) Gillette (4) None of these (3) HP (4) IBP

565.Toy ota Motors manufactures small 572.Indian Airlines (New name : Indian)
cars with which one of the following have redesigned their logo which is a
joint venture partners? graphic wheel. This logo has been
(1) Nissan (2) Suzuki inspired from which one of the
(3) Daihatsu (4) Daewoo following?
(1) Hampi Temples
566.Which of the following companies is (2) Mamallapuram Temples
also present in other sectors like FMCG, (3) Sun Temple, Konark
Electrical equipment, etc. apart from (4) Khajuraho Temple
IT?
(1) Polaris (2) Infosys
573.Where is Davos – the venue of the
(3) Wipro (4) Patni Computers annual meeting of World Economic
Forum, located?
567.‘Unicorn’ motorbike model has been (1) France (2) Germany
launched by which company? (3) Switzerland (4) Luxembourg
(1) Hero (2) TVS
(3) Honda (4) Yamaha
574.In India, the first bank of limited
liability managed by I ndians and
568.‘Octavia’ brand belongs to which car founded in 1881 was
manufacturer? (1) Hindustan Commercial Bank
(1) BMW (2) Skoda (2) Oudh Commercial Bank
(3) Hyundai (4) None of these (3) Punjab National Bank
(4) Punjab and Sind Bank
569.RasGas is a gas company of which of
the following countries?
(1) Kenya (2) Russia
(3) Qatar (4) Kuwait

(136) of (202) IC : PTpnsgk01

575."World Development Report" is an 582.Which of the following rivers remains
annual publication of in India throughout its journey from
(1) United Nations Deve.Programme its source to the point of merger with
another river?
(2) I n t e r n a t i o n a l Bank of
Reconstruction and Development (1) Beas (2) Chenab
(3) World Trade Organisation (3) Jhelum (4) Ravi
(4) International Monetary Fund
583.All of the following rivers flow into or
join the Ganges on its left side, except
576.The earlier name of WTO was
(1) Gomti (2) Son
(1) UNCTAD (2) GATT
(3) Gandak (4) Kosi
(3) UNIDO (4) OECD

584.Which of the following statements is

577.Which Indian businessman brought not correct?
back the ‘Sword of Tipu Sultan’ to
India? (1) The average height of the Western
Ghats goes on decreasing towards
(1) Kumarmanglam Birla the south
(2) Ratan Tata (2) A part of the Indus basin is shared
(3) Naveen Jindal by Punjab and Haryana
(4) Vijay Mallya (3) T h e I n d u s a n d t h e G a n g a
B r a h m a p u t ra river systems
together form the great plains of
578.Where are the headquarters of Asian
northern India
Development Bank located?
(4) The Himadri range lies south of the
(1) Singapore (2) New Delhi
Himachal range
(3) Manila (4) Mumbai

585.The phenomenon called ‘Equinox’ is

579.The State which produces maximum due to the
quantity of gold in India is
(1) rotation of the Earth on its own axis
(1) Karnataka (2) Punjab
(2) r e v o l u t i o n o f t h e E a r t h o n it s
(3) Chhattisgarh (4) Himachal Pradesh inclined axis
(3) oblate spheroid shape of the Earth
580.The currency of China is (4) gravitational pull of the planet
(1) Yen (2) Yuan
(3) Ringgit (4) Won 586.A circular area enclosing the area of
shallow water separated from the sea
581.The beautiful valleys of Kashmir, Kulu by low banks, is called
and Kangra, lie in which of the (1) an atoll (2) a barrier reef
following Himalayan ranges? (3) a fringing (4) a lagoon
(1) Himadri (2) Himachal
(3) Purvachal (4) Siwalik 587.The major part of agricultural land in
India is under
(1) cash crops (2) food crops
(3) oil seeds (4) plantation crops

IC : PTpnsgk01 (137) of (202)

588.The river Volga pours its water into
the
(1) Black Sea
(2) Caspian Sea
(3) Dead Sea
(4) Mediterranean Sea
589.As the height above sea level
increases, the temperature
(1) also increases
(2) decreases
(3) first decreases and then increases
(4) change of height has no effect on
temperature
590.The Caspian Sea, the largest inland
sea or lake in the world, is located
(1) wholly in the Continent of Europe
(2) wholly in the Continent of Asia
(3) partly in Europe and partly in Asia
(4) partly in Africa and partly in Asia
591.Which of the two planets listed below
are nearer to the Sun than the earth?
(1) Jupiter and Mercury
(2) Neptune and Venus
(3) Mars and Saturn
(4) Venus and Mercury
594.Great Circles are
(1) the circles representing latitudes
north and south of the equator
(2) the equidistant lines drawn east
and west of the Greenwich meridian
(3) i m a g i n a r y c i r c l e s w h o s e p l a n e
passing through the centre of the
Earth bisects it into two equal
halves
(4) those parallels where the Sun is
imagined to halt its movement and
turn about northward or southward
595.How many minutes for each degree
of longitude does the local time of any
place vary from the Greenwich time?
(1) Two minutes (2) Four minutes
(3) Six minutes (4) Eight minutes
596.Spring tides are caused as a result of
the
(1) M o o n pulling the Earth
gravitationally
(2) Sun pulling the Earth gravitationally
(3) Moon and the sun pulling the Earth
gravitationally in opposite
directions
(4) Moon and the Sun pulling the Earth
in the same direction

592.Cochin and Visakhapatnam sea ports 597.The atmosphere has been divided into
of India are situated on the sub-spheres according to the general
c h a ra c t e r i s t i c s o f t e m p e r a t u r e
(1) East and West Coasts, respectively variations. Their number is
(2) East Coast (1) 5 (2) 6
(3) West Coast (3) 7 (4) 8
(4) West and East Coasts, respectively
5 9 8 . W h i c h o f t h e f o l l o w i n g fa c t o r s
593.Neap tides are caused by the govern(s) the atmospheric temperature
gravitational pull of the of the place?
(1) Moon only (1) Its latitudinal distance from the
(2) Sun only equator
(3) Moon and the Sun in the same (2) Its elevation from the sea level
direction (3) Prevailing winds and influence of
(4) M o o n a n d t h e S u n i n o p p o s i t e ocean currents, if any
directions (4) All of these
(138) of (202) IC : PTpnsgk01
599.Which of the following pairing is 606.All of the following caves are located
incorrect? in Maharashtra, except
(1) Isohyets – Humidity (1) Ajanta Caves
(2) Isobars – Pressure (2) Amarnath Caves
(3) Isotherms – Temperature (3) Elephanta Caves
(4) Isohels – Sunshine (4) Ellora Caves

600.In the context of their formation, 607.Doldrums are belts of low atmospheric
which of the following types of rocks pressure obtaining in the regions
is the most ancient? adjoining the equator to a distance of
(1) Igneous (2) Metamorphic (1) 5 d e g r e e l a t i t u d e t o w a r d s t h e
(3) Plutonic (4) Sedimentary north only
(2) 5 d e g r e e l a t i t u d e t o w a r d s t h e
601.Which of the following factors cause(s) south only
ocean currents? (3) 5 d e g r e e l a t i t u d e t o w a r d s t h e
(1) Varying density of sea water north and south
(2) Varying temperature (4) 15 degree latitude towards the
north and south
(3) Winds
(4) All of these
6 0 8 . H i g h Ve l d s a r e t h e t e m p e ra t e
grasslands of
602.The local time at a place is 6 A.M.
(1) Africa
when the G.M.T. is 3 A.M. What is the
longitude of that place? (2) South Australia
(1) 45º E (2) 45° W (3) Europe and Asia
(3) 120° E (4) 120° W (4) South America

603.For determination of the age of which 6 0 9 . To w h i c h o n e o f t h e f o l l o w i n g

of the fo l lowing is ‘carbon-dating’ categories do the forests of the
method used? Western Ghats of India belong?
(1) Fossils (2) Rocks (1) Equatorial forests
(3) Trees (4) both (1) and (2) (2) Monsoon forests
(3) Sub-tropical evergreen forests
604.The minor planets revolving between (4) Temperate coastal forests
the orbits of Jupiter and Mars are called
(1) Asteroids (2) Comets 610.A stretch of sea water, partly or fully
(3) Meteors (4) Novas separated by a narrow strip from the
main sea, is called
605.Which of the following ranges (1) Bay (2) Isthmus
separates the Kashmir Valley from the (3) Lagoon (4) Strait
Indus Valley?
(1) Dhauladhar
611.In essence, the Varna system of the
(2) Great Himalayan range Aryans was based on
(3) Pir Panjal range (1) caste (2) colour
(4) Siwalik range (3) occupation (4) s e x
IC : PTpnsgk01 (139) of (202)
612.On breaking up of the Mauryan 617.Who amongst the Chalukyas was the
Empire, the Satavahanas rose to power most famous king of the line?
in the North-western Deccan in the (1) Pulakesin I
(1) second century BC (2) Kirtivarman I
(2) first century BC (3) Vikramaditya I
(3) first century AD (4) Pulakesin II
(4) second century AD
618.Medical encyclopedias and
613.Which of the following is the correct pharmacopoeias were composed in
chronological order of the following ancient India, the most famous being
imperial Guptas? t h a t o f C h a ra k a , w h o w a s a
(1) Chandragupta I, Kumaragupta I, contemporary of
Samudragupta, Skandagupta (1) Chandragupta Maurya
(2) C h a n d r a g u p t a I , S k a n d a g u p t a , (2) Ashoka
Samudragupta, Kumaragupta I
(3) Kanishka
(3) Chandragupta I, Samudragupta,
(4) Samudragupta
Kumaragupta I, Skandagupta
(4) Samudragupta, Chandragupta I,
Kumaragupta I, Skandagupta 619.Kanishka’s capital was at Purushapura.
Which of the following places in his
large kingdom had the status almost
614.Chandragupta Vikramaditya was the
of a second capital?
(1) son of Chandragupta I
(1) Banaras (2) Mathura
(2) father of Skandagupta
(3) Sanchi (4) Taxila
(3) grandfather of Kumaragupta I
(4) son of Samudragupta
620.Who were the immediate successors
of the imperial Mauryas in Magadha?
615.The first sermon of Gautama Buddha
(1) Kushanas (2) Pandyas
was called the
(3) Satavahanas (4) Sungas
(1) Turning of the Wheel of Law
(2) Salvation through Meditation
621.Which of the following statements
(3) Asceticism was not the path to
about Krishnadeva Raya is not correct?
Salvation
(1) He was a great warrior and an able
(4) G o d w a s n o t e s s e n t i a l t o t h e
administrator
Universe
(2) He was the last great Hindu king
of Southern India
616.Which of the following was not
common between Buddhism and (3) He was a very learned person
Jainism? (4) H e w a s t h e f o u n d e r of the
(1) Both denied the authority of the Vijayanagar kingdom
Vedas
(2) Both regarded rigid penance and 622.Who was the Nawab of Bengal at the
austerity as essential for salvation time of the Battle of Plassey?
(3) B o t h w e r e a n t a g o n i s t i c t o t h e (1) Mir Jafar (2) Mir Jumla
practice of animal sacrifices (3) Mir Qasim (4) Siraj-ud-daula
(4) Both were started by the members
of Kshatriya caste
(140) of (202) IC : PTpnsgk01
623.The buildings constructed by which 629.The two principal monuments of
of the following Mughal rulers Alauddin Khalji’s reign – the Jama’at
represent the climax in the evolution Khana Masjid and Alai Darwaza – were
of Mughal architecture? constructed at
(1) Akbar (2) Shahjahan (1) Agra (2) Delhi
(3) Jahangir (4) Aurangzeb (3) Dhar (4) Gulbarga

624.Who amongst the following was the 630.The Mughal emper or who ga ve
guardian and Regent of Akbar when he permission to the British to establish
succeeded to the dominion of his their trading centre at Surat was
father? (1) Humayun (2) Babur
(1) Asad Khan (2) Adam Khan (3) Jahangir (4) Akbar
(3) Asaf Khan (4) Bairam Khan
631.Who was the first Indian to become a
625.Which of the following battles marked Member of the British Parliament?
t h e re a l b e g i n n i n g o f t h e M u g h a l (1) M. Malabari
Empire in India?
(2) Dadabhai Naoroji
(1) First Battle of Panipat
(3) D.N. Wacha
(2) Second Battle of Panipat
(4) W.C. Bonnerjee
(3) Battle of Talikota
(4) Battle of Haldighati
632.Who started the Doctrine of Lapse?
(1) Lord Dalhousie
626.The Italian traveller, who left very
praiseworth y account of the (2) Lord Hardinge
Vijayanagar Empire, was (3) Lord Curzon
(1) E. Barbosa (2) Manucci (4) Lord Hastings
(3) Marco Polo (4) Nicolo Conti
633.Mahatma Gandhi was first referred to
627.When Timur invaded India at about the as the Father of the Nation by
close of the 14th century, the dynasty (1) Vallabhbhai Patel
that ruled the Sultanate of Delhi was (2) C. Rajagopalachari
(1) Lodhi (2) Sayyid (3) Jawaharlal Nehru
(3) Tughluq (4) Khilji (4) Subhas Chandra Bose

628.The first expedition of Muhammad of 634 .The first political organisation

Ghor in 1175 AD was directed against established in India in 1838 was known
(1) the Raja of Gujarat as
(2) his co-religionists, the Ismail ian (1) Bengal British India Society
heretics of Multan (2) Settlers’ Association
(3) K h u s r a u Malik, the last (3) Zamindari Association
representative of the dynasty of
(4) British India Society
Subuktgin and Sultan Mahmud
(4) the powerful Rajput king, Prithviraj
Chauhan

IC : PTpnsgk01 (141) of (202)

635.The Ryotwari Settlement was 641.The reason why the earnings of land
introduced by are not entirely economic rent is that
(1) James Thomson (1) Land can be employed in several
(2) Thomas Munroe uses
(3) Lord Cornwallis (2) The elasticity of supply of land is
zero
(4) Mount Stuart Elphinstone
(3) Other factors of production must be
combined with land to secure any
636.The theory of economic drain of India output from it
during British Imperial ism was
(4) None of the above
propounded by
(1) Jawaharlal Nehru
642.The multiplier is the factor by which
(2) Dadabhai Naoroji
(1) A change in income changes saving
(3) R.C. Dutt
(2) A c h a n g e i n i n c o m e c h a n g e s
(4) M.K. Gandhi investment
(3) An increase in investment lowers
637.Where did Mahatma Gandhi first try income
the weapon of Satyagraha? (4) A change in autonomous
(1) Champaran (2) Bardoli expenditure changes income
(3) Dandi (4) South Africa
643.Given that the marginal propensity to
638.The first session of the Indian National consume is four-fifths, which of the
C o n g re s s w a s h e l d u n d e r t h e following will cause the biggest fall in
presidentship of the value of multiplier?
(1) W.C. Bonnerjee (1) R i s i n g fa m i l y a l l o wa n c e b y 2 5
percent, with no corresponding
(2) A. O. Hume
increase in taxation
(3) B. Malabari
(2) Raising the marginal propensity to
(4) Badruddin Tyabji save to one-third
(3) Lowering the marginal propensity
639.The most effective measure against to consume three quarters
injustice adopted by Gandhiji was (4) None of the above
(1) Hijrat
(2) Picketing 644.All of the following are subsidiaries of
(3) Stoppage of work the State Bank of India, except
(4) Fasting (1) Central Bank of India
(2) State Bank of Bikaner and Jaipur
640.The Ilbert Bill Controversy during Lord (3) State Bank of Hyderabad
Lytton’s’ period related to the concepts (4) State Bank of Patiala
of
(1) Judicial equality
(2) Political representation
(3) Economic justice
(4) Revenue allocation

(142) of (202) IC : PTpnsgk01

645.If there is a rise in wage rates and a
person’s working time is reduced to
fewer hours, this means that
(1) The person prefers leisure to work
(2) The supply curve of labour slopes
downwards to the right
(3) The person prefers work to leisure
at the margin
(4) T h e s u b s t i t u t i o n e f f e c t o f t h e
change in wage rates more than
offsets the income effect
646.Which of the following deductions
should not be made from the total
revenue of a firm for arriving at its
profit for a year?
(1) Depreciation of capital
(2) D i v i d e n d s p a i d to
shareholders
(3) Excess of the value of stocks over
their purchase
(4) Imputed interest on owner’s capital
left in the business
6 4 7. W h i c h o f t h e f o l l o w i n g i s n o t a
characteristic of Indian agriculture?
(1) Over-dependence on nature
(2) Low level of productivity
(3) Multiplicity of crops
(4) Predominance of large farms
648.The unit of currency used in Germany
is
(1) Peso (2) Dollar
(3) Euro (4) Yen
649.The largest producer of coal in the
world is
(1) Russia (2) Canada
(3) UK (4) USA
IC : PTpnsgk01
650.Which of the following steps may be
taken by a government to check
inflation temporarily?
(1) Taxes should be reduced
(2) Wa g e s o f w o r k e r s s h o u l d b e
increased
(3) Money supply should be reduced
(4) None of the above
651.Stabil ity of prices can be brought
about by
(1) Increasing production
(2) Controlling the circulation of money
(3) Devaluation of currency
(4) Both (1) and (2) above
652.Which of the following is an example
ordinary
of credit investment?
(1) A share (of stock)
(2) A draft
(3) A banker’s acceptance
(4) A bond
653.Which of the following would be ‘fixed
cost’ to a manufacturing firm?
(1) Plant and machinery
(2) Raw materials
(3) Replacement of load
(4) Wages
654.Change in which of the following is the
best indicator of the change in the
standard of living of the people of a
country?
(1) Cost of living index
(2) Index of industrial productivity
(3) Per capita income
(4) Wholesale price index
655.It is impossible for a factor of
production to earn economic rent if it
(1) Is in perfectly inelastic demand
(2) Is in perfectly elastic supply
(3) Is not a fixed supply
(4) Has more than a single use
(143) of (202)
656.Which of the following is the most
likely to cause an immediate increase
in the size of the working population?
(1) A r i s e i n t h e a v e r a g e s i z e o f
families
(2) An increase in the birth rate
(3) A fall in the death rate of the over
60-year-olds
(4) More favourable tax treatment of
the earnings of married women
657.Which of the following will tend to
raise the market rate of interest in the
long run?
(1) A fall in the marginal productivity
of capital
(2) A n i n c r e a s e i n t h e a m o u n t o f
savings by individuals
(3) A rise in consumer demand for
present over future consumption
(4) None of the above
658.Public Sector consists of those
enterprises in which the State owns
(1) 50 percent of the capital
(2) 66 percent of the capital
(3) 85 percent of the capital
(4) 100 percent of the capital
659.If a firm in a perfect competition has
a U-shaped average cost curve in the
short run, it implies that
(1) At least one factor of production
must be subject to diminishing
returns
(2) The firm must have some element
of monopoly power
(3) Diseconomies of scale apply in the
industry
(4) The firm must have a choice of
plants of different size
(144) of (202)
660.Which of the following amounts of
transfer from the divisible pool of
resources has been recommended by
the 12th Finance Commission as States’
share in Central taxes?
(1) 590.17 thousand crore
(2) 603.28 thousand crore
(3) 613.11 thousand crore
(4) 712.64 thousand crore
661.In which of the following situations is
there no need to calculate a weighted
average price index?
(1) A l l p r i c e s c h a n g e i n t h e s a m e
direction and by the same amount
(2) Every family has exactly the same
expenditure pattern
(3) When prices rise, no single price
falls and vice versa
(4) All of the above
662.If the satisfaction of each individual
in a community depends exclusively on
the collection of goods and services
which he consumes, it follows that
(1) There are no external economies or
diseconomies in production
(2) There are no external economies or
diseconomies in consumption
(3) Social benefits are greater than
private benefits
(4) Competition is perfect
663.When did the Reserve Bank of India
become a State-owned institution?
(1) 1943 (2) 1947
(3) 1949 (4) 1952
664.Which of the following terms
represents the co-existence of private
and public sectors in an economy?
(1) Controlled economy
(2) Capitalism
(3) Joint sector
(4) Mixed economy
IC : PTpnsgk01
665.On which of the following did the 670.If the production possibility curve for
Mahalonobis Model lay greater two goods shifts so that it moves
emphasis for planned development in further from the origin throughout its
India after Independence? length this could be due to
(1) Agriculture (1) An increase in productivity of one
(2) Development of heavy industries factor of production
(3) Generation of power (2) A d e c l i n e i n the level of
unemployment
(4) Science and technology
(3) An increase in consumers’ demand
for both goods
666.Which of the following agricultural
(4) All of the above
holdings have the largest percentage
in India?
(1) Marginal holdings 671.Which of the following vitamins is
helpful for coagulation of blood?
(2) Small holdings
(1) C (2) D
(3) Medium holdings
(3) E (4) K
(4) Large holdings

672.For purifying drinking water alum is

667.Which of the following policies is likely used
to cause the least conflict for a country
which enjoys a surplus in the balance (1) for coagulation of mud particles
of payments, but is in danger of rising (2) to kill bacteria
unemployment? (Assume that demands (3) to remove salts
are elastic in international trade.)
(4) to remove gases
(1) Reducing government expenditure
(2) Budgeting for a deficit
673.A weather balloon is not fully inflated
(3) Budgeting for a surplus on the ground because
(4) Devaluation (1) if the balloon is fully inflated, it may
not remain stable in a storm
668.Which of the following is not a function (2) the air inside the balloon expands
of money? as it rises and may burst
(1) It is a medium of exchange (3) it cannot withstand the outside
(2) It increases the purchasing power pressure if fully inflated
(3) It is a standard measure of value (4) None of these
(4) It is a hedge against inflation
6 7 4 . V i t a m i n B 1 2 i s m o s t u s e fu l f o r
combating
669.Free economic goods are those
(1) anaemia (2) goitre
(1) Which are not important
(3) night blindness(4) rickets
(2) P r o v i d e d t o the people by
government
(3) Available freely in nature 675.The volume of which of the following
materials decreases when it is heated
(4) Given to us by our parents from 0°C to 5°C?
(1) Air (2) Copper
(3) Water (4) Mercury

IC : PTpnsgk01 (145) of (202)

676.On a night when the sky is clear, the
temperature may dip considerably; on
a cloudy night the temperature will
usually dip much less. The reason for
this difference is that
(1) the clear sky allows radiant energy
to escape readily from the earth
(2) on a cloudy night the clouds are warm
and therefore retard the cooling
(3) the clear sky allows the cold of
outer space to reach the earth
(4) currents of air carry the heat away
from the earth on a clear night
677.Which of the following chemicals is
useful in photography?
(1) Aluminium hydroxide
(2) Potassium nitrate
(3) Silver bromide
(4) Sodium chloride
678.The purest form of water can be
obtained from
(1) a deep tubewell
(2) a running stream
(3) a hot water spring
(4) a heavy shower of rain
679.Which of the following vitamins is
stored in the liver?
(1) Vitamin A (2) Vitamin C
(3) Vitamin E (4) Vitamin K
680.Which of the following is needed by
a person suffering from diabetes?
(1) Antibiotics (2) Insulin
(3) Penicillin (4) Streptomycin
681.An element common to all acids is
(1) oxygen (2) hydrogen
(3) sulphur (4) chlorine
682.Which of the following statements
relating to sound and light is true?
(1) Light is a form of kinetic energy,
whereas sound is a form of
potential energy
(2) Light can be reflected but sound
cannot be
(3) Light travels faster in air than does
sound
(4) Sound travels in waves but light
does not
(146) of (202)
683.Radioactive substances can be
produced readily in
(1) an electron gun
(2) an atomic pile
(3) a transistor
(4) a Wilson cloud chamber
684.The method of estimating the age of
the crust of the earth, which is now
believed to be the most accurate,
makes use of the rate of
(1) accumulation of sedimentary beds
(2) accumulation of salt in the ocean
(3) a t o m i c disintegration
(radioactivity)
(4) loss of heat by the earth
685.When a given amount of air is cooled
(1) the amount of moisture it can hold
decreases
(2) its absolute humidity decreases
(3) i t s r e l a t i v e h u m i d i t y r e m a i n s
constant
(4) its absolute humidity increases
686.With the present-day advance in
medical techniques, transplants are
possible in all of the following except
(1) artery (2) bone
(3) cornea (4) kidney
687.A transistor is most likely to be found
in a
(1) f u s e
(2) fluorescent lamp
(3) hearing aid
(4) wrist watch
688.A person born with the inner ear
missing
(1) would not have the Eustachian
tube
(2) would never be able to hear sound
(3) would be able to hear only with an
electronic hearing aid
(4) could only hear a loud explosion
IC : PTpnsgk01
689.The possibility of hereditary variation
is greatest when
(1) self-fertilisation occurs, as in some
plants
(2) an abundant amount of food is
provided for the egg
(3) organisms reproduce sexually
(4) organisms reproduce asexually
690.Steel is more elastic than rubber
because
(1) its density is high
(2) it is a metal
(3) ratio of stress to strain is more
(4) ratio of stress to strain is less
691.Free surface of a liquid behaves like
a sheet and tends to contract to the
smallest possible area due to the
(1) force of adhesion
(2) force of friction
(3) centrifugal force
(4) force of cohesion
692.If speed of rotation of the earth
increases, weight of the body
(1) increases
(2) remains unchanged
(3) decreases
(4) may decrease or increase
693.The buoyancy depends on
(1) the shape of the body
(2) the mass of the body
(3) the mass of the liquid displaced
(4) the depth to which the body is
immersed
694.The working of a rocket is based on
the principle of
(1) electricity
(2) Kepler’s Law
(3) Newton’s Law
(4) conservation of momentum
695.Friction can be reduced by changing
over from
(1) sliding to rolling
(2) rolling to sliding
(3) potential energy to kinetic energy
(4) dynamic to static
IC : PTpnsgk01
696.Which of the following is a physical
change?
(1) Oxidation
(2) Reduction
(3) Decomposition
(4) Sublimation
697.Pressur e cooker cooks rice faster
because
(1) it always lets the steam escape
(2) high pressure crushes the hard
covering of rice grains
(3) it does not let the heat energy
escape easily
(4) high pressure raises the boiling
point of water
698.The isotopes of an element contain
the same number of
(1) neutrons and protons
(2) protons but different number of
neutrons
(3) neutrons and protons but different
number of electrons
(4) n e u t r o n s a n d e l e c t r o n s b u t
different number of protons
699.The reaction which converts sugar
solution into alcohol is an example of
(1) saponification
(2) hydrogenation
(3) fermentation
(4) hydrolysis
700.The greatest value of bees to
mankind is in
(1) supplying of food for birds
(2) insuring pollination of certain crop
plants
(3) storing honey for man’s use
(4) f u r n i s h i n g b e e s w a x n e e d e d i n
certain specialised industries
(147) of (202)
 Objective key
General Awareness – Quiz
1.(4) 2.(2) 3.(2) 4.(4) 5.(4) 6.(1) 7.(3) 8.(1) 9.(3) 10.(3)
11.(3) 12.(4) 13.(2) 14.(3) 15.(3) 16.(3) 17.(4) 18.(1) 19.(2) 20.(1)
21.(4) 22.(4) 23.(4) 24.(4) 25.(3) 26.(1) 27.(2) 28.(4) 29.(2) 30.(3)
31.(3) 32.(4) 33.(3) 34.(3) 35.(2) 36.(3) 37.(2) 38.(1) 39.(2) 40.(2)
41.(1) 42.(3) 43.(2) 44.(3) 45.(4) 46.(2) 47.(2) 48.(3) 49.(2) 50.(1)
51.(4) 52.(2) 53.(3) 54.(2) 55.(4) 56.(3) 57.(2) 58.(1) 59.(1) 60.(1)
61.(4) 62.(4) 63.(3) 64.(4) 65.(2) 66.(2) 67.(1) 68.(3) 69.(4) 70.(1)
71.(1) 72.(4) 73.(2) 74.(1) 75.(1) 76.(3) 77.(1) 78.(3) 79.(4) 80.(4)
81.(3) 82.(2) 83.(4) 84.(1) 85.(1) 86.(1) 87.(1) 88.(3) 89.(1) 90.(1)
91.(4) 92.(3) 93.(1) 94.(3) 95.(1) 96.(2) 97.(4) 98.(2) 99.(4) 100.(1)

101.(1) 102.(4) 103.(3) 104.(2) 105.(3) 106.(1) 107.(3) 108.(3) 109.(2) 110.(1)
111.(1) 112.(4) 113.(2) 114.(1) 115.(2) 116.(3) 117.(1) 118.(1) 119.(4) 120.(4)
121.(3) 122.(1) 123.(3) 124.(3) 125.(1) 126.(2) 127.(1) 128.(4) 129.(3) 130.(2)
131.(1) 132.(1) 133.(3) 134.(2) 135.(1) 136.(4) 137.(4) 138.(1) 139.(1) 140.(3)
141.(1) 142.(4) 143.(1) 144.(4) 145.(1) 146.(3) 147.(2) 148.(2) 149.(2) 150.(4)
151.(2) 152.(1) 153.(2) 154.(2) 155.(3) 156.(2) 157.(3) 158.(2) 159.(3) 160.(1)
161.(2) 162.(2) 163.(4) 164.(2) 165.(4) 166.(4) 167.(3) 168.(1) 169.(4) 170.(1)
171.(3) 172.(4) 173.(3) 174.(4) 175.(3) 176.(1) 177.(1) 178.(2) 179.(1) 180.(1)
181.(1) 182.(1) 183.(4) 184.(1) 185.(3) 186.(1) 187.(2) 188.(4) 189.(1) 190.(3)
191.(4) 192.(3) 193.(2) 194.(3) 195.(1) 196.(2) 197.(1) 198.(4) 199.(1) 200.(3)

201.(2) 202.(4) 203.(1) 204.(3) 205.(4) 206.(2) 207.(3) 208.(4) 209.(2) 210.(2)
211.(3) 212.(2) 213.(3) 214.(3) 215.(2) 216.(2) 217.(2) 218.(1) 219.(1) 220.(1)
221.(1) 222.(2) 223.(4) 224.(4) 225.(4) 226.(3) 227.(2) 228.(2) 229.(2) 230.(3)
231.(4) 232.(1) 233.(2) 234.(3) 235.(2) 236.(2) 237.(3) 238.(2) 239.(2) 240.(3)
241.(1) 242.(2) 243.(1) 244.(4) 245.(2) 246.(1) 247.(3) 248.(3) 249.(3) 250.(1)
251.(3) 252.(1) 253.(1) 254.(3) 255.(3) 256.(2) 257.(4) 258.(3) 259.(3) 260.(1)
261.(4) 262.(4) 263.(4) 264.(4) 265.(1) 266.(1) 267.(3) 268.(4) 269.(1) 270.(2)
271.(3) 272.(2) 273.(4) 274.(3) 275.(1) 276.(3) 277.(1) 278.(1) 279.(4) 280.(2)
281.(3) 282.(1) 283.(4) 284.(1) 285.(3) 286.(3) 287.(1) 288.(2) 289.(4) 290.(1)
291.(2) 292.(1) 293.(3) 294.(3) 295.(3) 296.(1) 297.(4) 298.(1) 299.(2) 300.(1)

301.(2) 302.(4) 303.(2) 304.(4) 305.(4) 306.(2) 307.(2) 308.(2) 309.(3) 310.(1)
311.(3) 312.(4) 313.(2) 314.(4) 315.(3) 316.(1) 317.(3) 318.(3) 319.(1) 320.(2)
321.(4) 322.(2) 323.(4) 324.(1) 325.(2) 326.(3) 327.(1) 328.(1) 329.(3) 330.(3)
331.(3) 332.(3) 333.(3) 334.(2) 335.(4) 336.(3) 337.(2) 338.(3) 339.(3) 340.(3)
341.(4) 342.(1) 343.(4) 344.(4) 345.(3) 346.(1) 347.(2) 348.(1) 349.(3) 350.(1)
351.(2) 352.(1) 353.(2) 354.(1) 355.(3) 356.(1) 357.(4) 358.(3) 359.(1) 360.(1)
361.(2) 362.(4) 363.(1) 364.(1) 365.(4) 366.(3) 367.(2) 368.(1) 369.(4) 370.(1)
371.(1) 372.(1) 373.(1) 374.(3) 375.(2) 376.(3) 377.(1) 378.(2) 379.(2) 380.(3)
381.(1) 382.(1) 383.(1) 384.(2) 385.(3) 386.(2) 387.(2) 388.(1) 389.(1) 390.(4)
391.(1) 392.(3) 393.(2) 394.(1) 395.(1) 396.(2) 397.(1) 398.(1) 399.(1) 400.(1)

401.(2) 402.(1) 403.(2) 404.(4) 405.(2) 406.(3) 407.(1) 408.(4) 409.(1) 410.(3)
411.(1) 412.(3) 413.(3) 414.(4) 415.(2) 416.(3) 417.(4) 418.(1) 419.(1) 420.(3)
421.(2) 422.(2) 423.(1) 424.(2) 425.(2) 426.(3) 427.(3) 428.(2) 429.(1) 430.(1)
431.(3) 432.(2) 433.(1) 434.(1) 435.(4) 436.(4) 437.(2) 438.(4) 439.(1) 440.(3)
441.(3) 442.(1) 443.(1) 444.(3) 445.(2) 446.(3) 447.(2) 448.(4) 449.(2) 450.(3)
451.(4) 452.(4) 453.(3) 454.(3) 455.(1) 456.(3) 457.(1) 458.(1) 459.(2) 460.(2)
461.(2) 462.(3) 463.(3) 464.(3) 465.(3) 466.(2) 467.(2) 468.(1) 469.(3) 470.(4)
471.(2) 472.(1) 473.(3) 474.(2) 475.(2) 476.(1) 477.(3) 478.(3) 479.(1) 480.(2)
481.(1) 482.(1) 483.(1) 484.(3) 485.(1) 486.(2) 487.(2) 488.(3) 489.(2) 490.(3)
491.(4) 492.(4) 493.(2) 494.(1) 495.(3) 496.(1) 497.(3) 498.(1) 499.(3) 500.(3)

(148) of (202) IC : PTpnsgk01

 Objective key
General Awareness – Quiz
501.(3) 502.(2) 503.(4) 504.(3) 505.(1) 506.(3) 507.(2) 508.(a) 509.(3) 510.(2)
511.(3) 512.(1) 513.(2) 514.(4) 515.(1) 516.(2) 517.(3) 518.(1) 519.(3) 520.(2)
521.(2) 522.(1) 523.(3) 524.(4) 525.(3) 526.(3) 527.(4) 528.(2) 529.(1) 530.(1)
531.(1) 532.(1) 533.(1) 534.(1) 535.(1) 536.(2) 537.(2) 538.(2) 539.(2) 540.(1)
541.(4) 542.(2) 543.(3) 544.(2) 545.(3) 546.(1) 547.(3) 548.(4) 549.(1) 550.(1)
551.(3) 552.(1) 553.(3) 554.(4) 555.(4) 556.(3) 557.(1) 558.(1) 559.(2) 560.(4)
561.(2) 562.(1) 563.(3) 564.(4) 565.(1) 566.(3) 567.(3) 568.(2) 569.(3) 570.(1)
571.(2) 572.(3) 573.(3) 574.(2) 575.(2) 576.(2) 577.(4) 578.(3) 579.(1) 580.(2)
581.(2) 582.(1) 583.(2) 584.(1) 585.(2) 586.(1) 587.(2) 588.(2) 589.(2) 590.(3)
591.(4) 592.(4) 593.(4) 594.(3) 595.(2) 596.(4) 597.(3) 598.(4) 599.(4) 600.(1)

601.(4) 602.(1) 603.(1) 604.(1) 605.(2) 606.(2) 607.(3) 608.(1) 609.(4) 610.(3)
611.(2) 612.(2) 113.(3) 614.(4) 615.(1) 616.(2) 617.(4) 618.(3) 619.(2) 620.(4)
621.(4) 622.(4) 123.(2) 624.(4) 625.(2) 626.(4) 627.(3) 628.(2) 629.(2) 630.(3)
631.(2) 632.(1) 133.(4) 634.(3) 635.(2) 636.(2) 637.(4) 638.(1) 639.(4) 640.(1)
641.(1) 642.(4) 143.(2) 644.(1) 645.(2) 646.(2) 647.(4) 648.(3) 649.(4) 650.(3)
651.(4) 652.(4) 153.(1) 654.(3) 655.(2) 656.(4) 657.(3) 658.(4) 659.(1) 660.(3)
661.(1) 662.(2) 163.(3) 664.(4) 665.(2) 666.(1) 667.(2) 668.(4) 669.(3) 670.(1)
671.(4) 672.(1) 673.(2) 674.(1) 675.(3) 676.(1) 677.(3) 678.(4) 679.(1) 680.(2)
681.(2) 682.(3) 683.(2) 184.(3) 685.(1) 686.(2) 687.(3) 688.(2) 689.(3) 690.(3)
691.(4) 692.(3) 693.(3) 194.(4) 695.(1) 696.(4) 697.(4) 698.(2) 699.(3) 700.(2)

IC : PTpnsgk01 (149) of (202)

 BUSINESS COMPENDIUM
This is a collection of the key terminologies and concepts used in modern business. If
you have a comfortable grasp over these, you will definitely fare well in GK, Group
Discussions, and Personal Interviews. A vast range of terminologies has been compiled
painstakingly just for YOUR benefit. Use this seriously.

ABC METHOD ABC is a method of
stock control in which each item is
designated by the letter A, B or C
depending upon its value relative to the
total expenditure of production
materials. A goods are low-volume,
high-cost items and C goods are the
numerous low-cost items. Also called
split inventory method, it is a simple
& effective method of inventory
gradation.

ABSOLUTE MONOPOLY The
exclusive control of the output of a
commodity or service, for which no
substitute is available, vested in a
single product or supplier. This will
create an unfair advantage for the
producer who can charge exorbitant
premiums, render poor services and
still exploit the hapless consumers. An
advantage of a free market economy
is the creation of competition with
lower chances of absolute monopolies
g e tt i n g a s t r o n g h o l d . E x a m p l e o f
present day absolute monopolies –
Indian insurance sector which is a
monopoly of the government.

ACCOUNTING PERIOD The period of
time covered by business, financial and
management accounts. Financial
accounts are generally prepared once
or twice in twelve calendar months, but
the interval for management accounts
must be much shorter in order to
ensure adequate management control
over the regular operations.

ACCUMULATED PROFIT Profit which
is not paid as dividend (to the
shareholder) but is carried into the
accounts of the following year.

ACQUISITION Big fish eating little
f i s h ; o n e c o m p a n y t a k i n g ov e r
controlling interest in another company.
(150) of (202)
Since high prices are often paid to
acquire shares of the target company,
clever investors often make a neat profit
by exploiting the situation. Example :
Acquisition of TOMCO by HLL.

ACTIVE MARKET A market in which
there is a lot of buying and selling. It
generally indicates investor confidence
and high liquidity conditions. The market
could be of stocks, metals, grains, etc.

ACTIVE PARTNER A part-owner in a
business partnership who is actively
involved in the normal working
operations of the business. Also called
g e n e ra l p a r t n e r. O n e w h o d o e s n ’ t
participate is a Sleeping partner.

ACTIVE SHARES Shar es in which
there ar e frequent and day-to-da y
dealings, as distinguished from partly
active shares in which dealings are not
so frequent. Most shares of leading
companies would be active, particularly
those which are sensitive to economic
and political events and are, therefore,
subject to sudden price movements.
Some market analysts would define
active shares as those which are
bought and sold at least three times a
week. Easy to buy or sell.

ACT OF GOD A sudden or violent act
of nature which is neither caused by,
n o r c a n b e p r e v e n t e d b y, h u m a n
intervention and cannot reasonably be
e x p e c t e d t o h a v e b e e n fo r e s e e n .
Contracts are frequently not
enforceable where failure to perform
is due to an act of God.

AFFIDAVIT A sworn statement made
before a commissioner of oaths. It is
sometimes needed by a company when
a deed of transfer is signed by power
of attorney.
IC : PTpnsgk01

ALLOTMENT The second stage in the
offer of company shares to the public.
After the public has applied for the
shares, they are allotted to them by
the company. If the share issue has
been oversubscribed, various criteria
may be used for the allotment, such
as by ballot, to small investors or to
employees. Applicants who are allotted
shares are advised in allotment letters.

AMALGAMATION The combining of
all or some of the assets and liabilities
of two or more businesses into a single
organization. This is accomplished by
the formation of a single new business
or by the absorption by one business
of the other.

AMERICAN DEPOSITORY
RECEIPTS Public offerings by non-US
companies (and we're most concerned
with Indian companies) in the US are
called American Depository Receipts.
ADRs are negotiable receipts issued to
investors by an authorized depository,
normally a US bank or depository, in
lieu of shares of the foreign company,
w h i c h a re a c t u a l l y h e l d b y t h e
depository. ADRs can be listed and
traded in a US-based stock exchange
and help the Indian company to be
known in the highly liquid US stock
exchanges. ADRs also help the US-
based and other foreign investors to
have the twin benefits of having
shareholding in a high growth Indian
company and the convenience of
trading in a highly liquid and well-
known stock market.

AMERICAN STOCK EXCHANGE
(AMEX) At 86 Trinity Place, New York,
the second largest stock exchange in
America. Till 1921, it was known as the
Curb (= Brit. Kerb) Exchange.

AMORTIZATION The gradual
extinction of a debt or liabi li ty b y
means of periodic repayment or
redemption, usually through the
operation of a sinking fund.

ANNUAL DEPRECIATION The
reduction in book value of an asset at
a certain percentage rate per annum.
IC : PTpnsgk01

ANNUAL GENERAL MEETING A
meeting of the members of a business
organization held once every calendar
year to consider the general state of
the organization, including its financial
position. Matters discussed at such
meetings include the financial accounts
o f t h e c o m p a n y, t o g e t h e r w i t h
directors’ and auditors’ reports, the
appointment of directors & auditors, &
the declaration of dividends. In recent
times, the small shareholders’ conduct
at AGMs has been a problem for most
managements!

ANNUITY A type of pension in which
an insurance company pays an annual
income in return for a lump-sum
payment. This annual income may be
f o r a c e r t a i n p e r i o d o n l y, f o r t h e
individual’s lifetime, or in perpetuity.

APPLIED ECONOMICS A branch of
economics which relates the principles
of economic theory and the techniques
of economic analysis to the practical
problems of business, government, etc.

APPRECIATION An increase in the
value of an asset over its purchase
price or book value. (Also - the process
of valuing an asset.)

ARBITRAGE 1. Profiting from
differences in price of the same share
traded on two or more stock exchanges.
An arbitraguer makes money by buying
in the lower market and immediately
thereafter or simultaneously selling in
the higher market, thereby making a
profit. 2. Buying shares in companies
whose share price is likely to rise
because of possible takeover deals. 3.
The moving of funds from one market
t o a n o t h e r t o b e n e f i t fr o m p r i c e
differentials. The price differential must
be large enough to cover any
transaction costs. Arbitrage ensures
that currency exchange rates are in
harmony throughout the world, since
otherwise there would be wholesale
movements of capital between the
world’s financial centres.

ARBITRATION Arbitration is an
alternative dispute resolution
(151) of (202)
 mechanism provided by a stock
exchange for resolving disputes
between the trading members and
their clients in respect of trades done
on the exchange. This process of
resolving a dispute is comparatively
faster than other means of redressal.

ASSESSMENT The valuation placed on
property for rating purposes. Example
- Income tax assessment.

ASSET 1. Any business resource -
both tangible and intangible - acquired
at a monetary cost and which is
expected to be of benefit to the
business for a period of time, such as
buildings, machinery, etc. Intangibles
include goodwill etc. 2. Any resource
of a deceased or insolvent person from
which claims may be met.

ASSET LIFE The time period during
which an asset is expected to contribute
value to the operations of a business.

ASSET STRIPPING The taking over
of a company with share values below
their asset value, usually for the
purpose of closing it down and selling
off the assets.

ASSET VALUE or NET ASSET VALUE
(NAV) Term used by MUTUAL FUNDS,
MASTERSHARES, and other investment
trusts, to indicate the net tangible asset
value of each share. Calculated by
taking the total value of an investment
portfolio on market rates on a certain
date and dividing it by the number of
outstanding shares. The net asset
value of a mutual fund share indicates
how well or badly the fund managers
have played the stock market.

AT A PREMIUM At a price higher than
that printed on the share certificate, i.e.,
above par. When a well-established
company issues new shares, either as
rights or to the public, it may ask for a
higher price. The difference between the
face value and the price at which a share
is now being issued is called the premium.

AT PAR A price equal to the face
value of a share, i.e., if the face value
of a share is Rs 10 or Rs 100 it is being
issued or selling at Rs 10 or Rs 100.
(152) of (202)

ATTACHMENT ORDER 1 . A c o u r t
order obtained by a creditor whereby
money due to the debtor by third
parties becomes the property of the
creditor. The order may also prevent
the disposal of the debtor’s goods
which are held by third parties. 2. An
order for the imprisonment of a person
who is in contempt of court.

AUCTION The sale of property by
competition. Subject to a possible
reserve price, the property is sold to
that party making the highest bid, the
contract being binding upon the fall
of the hammer. Ex - Property auctions
by the IT department.

AUDIT The systematic examination of
the records, books of account and
financial documents of a business in
order to determine the accuracy of the
recording of transactions and to
verify the statements and reports
prepared during the period under
review. This facilitates honest and
proper tax payments.

AUTHORIZED SHARE CAPITAL The
maximum number of shares that a
company may issue, stated in the
memorandum and articles of
a s s o c i a t i o n o f t h e c o m p a n y. A
company may initially issue fewer
shares. The authorized capital can be
increased with the consent both of the
shareholders and the SEBI.

BACKWARD INTEGRATION The
merger of one firm with another that
is nearer the beginning of the
manufacturing process. Examples are
a brewery with a hop-grower or a
publishing company with a paper
manufacturer. Backward integration
may ensure constant supplies in a time
of crisis but cannot add to the
organization’s monopoly power. Refer
Horizontal Integration.

BAD DEBT A debt which is
irrecoverable and is therefore written
off as a loss in the accounts of a
company / bank etc.
IC : PTpnsgk01

BAD DELIVERY A situation in which
an invalid transaction has taken place
as a result of faulty documentation
and good title of ownership is not
transferred. Bad delivery occurs
where documents are not genuine, or
where they are damaged or where the
coupons attached to a bond or share
certificate are not in order.

BALANCE SHEET Statement of the
financial position of a company on a
particular date, showing the nature and
amount of a company ’s assets and
liabilities on a particular date, usually
the end of the accounting year. The
assets include fixed assets (GROSS
BLOCK less D E P R E C I AT I O N ) ,
investments, current assets (which
include INVENTORIES, sundry debtors,
cash and bank balances) and loans and
a d va n c e s . T h e l i a b i l i t i e s i n c l u d e
shareholders’ fund (equity capital plus
reserves). Loan funds (secured and
unsecured loans) and current liabilities
and provisions. The assets and
liabilities must balance.

BALANCE OF PAYMENTS (BoP) A
comprehensive set of accounts
recording a country’s transactions with
other countries and with international
organizations. It can be divided into
two parts : the current account and
the capital account. The current
account is composed of visible trade
(the import and export of tangible
g o o d s s u c h a s ra w m a t e r i a l s a n d
machinery) and invisible trade
(services such as banking, insurance
and tourism). The capital account deals
with the flow of funds out of and into
the country through investment abroad
and internal investment b y foreign
countries and organizations. If the
balance of payments is persistently in
deficit or in surplus the exchange rate
of the country’s currency will be liable
to fall or rise accordingly. In recent
times, Japan ran a trade surplus in
excess of $ 60 billion with the US which
in turn led to a surge in Yen’s value
a g a i n s t t h e D o l l a r. In d i a h a s n o t
registered any trade surplus in recent
times. In 1991, the massive BoP crisis
IC : PTpnsgk01
faced by India forced the Narsimha
Rao govt. to embark on a bold
economic reforms programme.

BALANCE OF TRADE The difference
b e t w e e n t h e v a l u e o f a c o u n t r y ’s
exports and imports, including both
goods and services, but excluding the
movement of capital and currency.

BANKRUPT A person who has been
declared by a court not to be capable
of paying his debts, and whose affairs
are put in the hands of a trustee.

BARRIER TO ENTRY Any
phenomenon which hinders or prevents
new firms entering an industry. Its
existence reduces competition (at least
potentially) and so encourages higher
prices than would otherwise occur.
There are six major types of barrier:
government prohibition (for example,
by rationing airwav es to a specific
number of television stations); patent
restrictions; exorbitant initial costs of
creation; resistance on the part of
existing firms (for example, by typing
c o n t r a c t s w it h c u s t o m e r s a n d t h e
threat of unprofitable price wars);
established consumer preferences; and
economic restrictions (such as the
unavailability of a scarce resource).

BATCH PRODUCTION It is the type
of production in which identical articles
a re m a n u f a c t u re d o r p ro c e s s e d i n
groups rather than singly. Thus, shoes
are generally produced in batches.

BEAR A stock market operator who
expects share prices to fall and keeps
selling (to pick up the shares later a
lower price for actual delivery), causing
selling pressure and lowering the prices
f u r t h e r. Te r m d e r i v e d f r o m t h e
attacking posture of the bear, pushing
downwards.

BEAR HAMMERING Persistent selling
pressure by bears, bringing the price
down. A bit of a mixed metaphor.

BEAR MARKET Prolonged period of
f all ing share prices, dominated by
selling pressure in the market place,
brought about by BEARS, or adverse
economic or political factors, e.g., a
(153) of (202)
 change in the industrial policy of the
government, imposition of price
control, drought or flood, free
i m p o r t s , e t c ., o r a c h a n g e i n t h e
government, income Tax raids. etc.

BEATING THE MARKET Getting a
return on investments which is higher
than the market average. Possible, but
difficult, as the market beats you, more
often than not.

BELOW PAR A price lower than the
face value of a share. Thus face value
Rs 10 or Rs 100, below par Rs 6.50 or
Rs 87.

BENCH MARK 1. A known point of
reference against which
characteristics may be measured,
especially used for testing computer
programs and equipment. 2. A
selected job against which others may
be assessed.

BILATERAL TRADE Trade between
two countries to the exclusion of
others. For instance, a developing
country may buy machinery from the
US on condition that the payment
received is used by US to buy that
country’s produce rather than buying
elsewhere. The formation of WTO is
to promote multilateralism rather than
bilateralism.

BLACK ECONOMY An illicit system of
trade running in parallel with normal
trade but operated in order to avoid
the payment of taxes, for example by
not issuing invoices, payment normally
being in cash.

BLANK CHEQUE A cheque which has
been signed and dated but in which
the amount payable has not been filled
in. This is left for the payee to insert.

BLUE CHIPS Shares of particularly
well-known and established companies
which have shown consistent growth
over the years, have bright future
prospects, and are expected to
continue sustained growth in the
future. From casino gambling, where
the blue chip is usually the one with
the highest value.
(154) of (202)

BOMBAY ON-LINE TRADING
SYSTEM (BOLT) Fully computerized
screen-based trading system fully
operational at the Bombay Stock
Exchange that has resulted in
transparency, speed and ac cura c y.
Other stock exchanges have also
followed suit and Delhi and Chennai
also have one of their own.

BOND An instrument of loan raised by
the government or a company, against a
specified interest rate and a promised
date of payment. Company bonds are
called DEBENTURES, which are secured
by mortgage against company assets, as
distinguished from fixed deposits
accepted by companies, which are
unsecured.

BONUS ISSUE When a company’s
FREE RESERVES are high, it may
choose to capitalize part of it by
issuing bonus shares to existing
shareholders in proportion to their
holdings, to convert the reserves into
equity. Bonus shares are issued free
of cost, but since the number of
shareholders remains the same and
their proportionate holdings do not
change, bonus shares do not improve
the shareholder’s ownership of the
c o m p a n y. A f t e r a n i s s u e o f b o n u s
shares the price of a company’s share
drops, more or less in proportion to
the issue. However, since the dividend
rate is often maintained, the
shareholder gets a larger yield on the
increased holding and when the share
price APPRECIATES, he makes further
gains. (Ex. Recent Reliance Bonus 1 :
1)

BOTTOM LINE 1. The last line on a
profit and loss account, showing a
profit or loss. 2. The most important
result of a business deal, especially in
regard to the potential profit.

BRAINSTORMING A process in which
a group of people, frequently from
different disciplines, meet and discuss
problems, hoping to solve these
problems through insights gained in
their exchange of ideas.
IC : PTpnsgk01

BRAND LOYALTY The attitude of
customers who always buy the same
brands of products. Especially strong
in premium products like expensive
cigarettes, cars, apparel etc.

BREAK-EVEN POINT That level of
activity of a business at which neither
profit nor loss is incurred, total costs
equating with total revenue. Also
called break-even performance.

BROKER A member of the stock
exchange who is licensed to buy or
sell shares on his own or on his client’s
b e h a l f. H e c h a r g e s a c o m m i s s i o n
(brokerage) on the gross value of the
deals. Commission brokers simply
execute buy or sell orders against a
commission. Full service brokers offer
facilities such as safekeeping clients’
portfolios of investments, managing
clients’ portfolios and offering credit
when a client is buying on MARGIN.

BROKERAGE The payment charged by
brokers for their services in arranging
a contract. It is usually expressed as
a percentage of the monetary value
of the contract.

BUDGET 1. A forecast of the
government’s expenditure and
revenue for the forthcoming year
together with an announcement of its
proposed changes in taxation. The
budget is the government’s main
instrument of economic policy. Thus
we may witness a populist (soft)
budget in an election year and a hard
budget in the immediate post-election
period. 2. A financial statement which
evaluates the level of activity planned
by a business for future time period.

BULL A stockmarket operator who
believes that share prices are going
to rise, and keeps buying to sell later
at a profit. From the attacking posture
of the bull, giving an upward thrust.
The bull’s action causes buying
pressure in the market place and
pushed up share prices. Harshad
Mehta was the big bull of Indian
bourses.
IC : PTpnsgk01

BULLION Gold and silver, usually in
bar form, which is regarded as a
commercial commodity at recognized
degrees of purity.

BULL MARKET Prolonged rise in the
price of shares, sustained by buying
pressure of actual investors or BULLS
News of favourable economic growth,
decontrol, political developments, lifting
of price controls, budgetary
concessions, etc. can trigger off a bull
market.

BUYER’S MARKET A situation in
which potential buyers of a commodity
have an advantage over the sellers,
because of over-production, etc., and
are accordingly able to dictate terms,
such as a lowering of the price,
favourable credit arrangements and
quicker delivery dates. One of the
primary aims of the present Indian
economic reforms process is to create
a buyer’s market for most commodities
in India. In the earlier socialistic
pattern, India largely had a seller’s
market and hence there was literally
no pressure on Indian companies to
produce quality goods. Hence it was
indeed ironic that the fundamental aim
of Indian socialism, i.e. to help create
an equal society through state control,
was defeated through a tool of
socialism (viz. excessive governmental
control leading to lower competition)
itself.

CALL OR PUT OPTIONS The right to
buy is called a call option while the
right to sell is called a put option. The
buyer of the call option can call upon
the seller of the option and buy from
him, the underlying instrument, at any
point in time on or before the expiry
date by exercising his option at the
agreed price. The seller of the option
has to fulfill the obligation on exercise
of the option. The right to sell is called
the put option where the buyer of the
option can exercise his right to sell
the underlying instrument to the seller
of the option, at the agreed price.
(155) of (202)

CALLED-UP CAPITAL When shares
are issued by a company, it may not
require the shareholders to pay the
full value of the shares, but reserve a
certain portion for future needs so
that part of the share capital may not
lie unused. Called-up capital is that
portion of the share’s full value which
the company has collected.

CAPACITY UTILIZATION When
plants and machinery are installed they
hav e a ra t e d c a p a c i ty, i . e ., u n d e r
optimum utilization they can produce
a certain quantity of goods, working
a single shift. The rate of utilization
of that capacity is expressed in
percentage. The nature of demand for
the company’s product often
regulates capacity utilization.
Sometimes, owing to a glut of a
c o m m o d i t y i n t h e m a r k e t , e . g .,
fertilizers, the government regulates
capacity utilization. When there are
no such controls, a low capacity
utilization is generally bad news for
the company. Under conditions of a
seller’s market, a company may
achieve more than 100% capacity
utilization, by working more than one
shift.

CAPITAL 1. All resources which have
been produced by mankind and which
themselves are used in the process of
production. Capital is thus different from
land, since this is a natural rather than a
man-made resource. 2. The total
resources of a person or business. 3.
The sum of money subscribed by the
members of a company, by partners or
by an individual when starting a
company.

CAPITAL APPRECIATION Increase
in the capital value of shares as their
price increases over a period-the most
important reason for investing in
s h a r e s . H i s t o r i c a l l y, t h e p r i c e o f
shares has always moved upwards,
barring periodic corrections.

CAPITAL EQUIPMENT The equipment
in a factory or office which is used to
produce goods or to further the
business.
(156) of (202)

CAPITAL EXPENDITURE The
purchasing of long-lasting assets
which will be used in the process of
production.

CAPITAL GAINS 1. A realized profit
made by a rise in the value of a capital
asset. Such gains may be subject to
taxation. 2. Profit on the sale of any
assets which have appreciated in
value. If the assets, such as land,
building, stocks and shares, yield a
profit on sale within a year of their
acquisition, it is a short-term capital
gain, equated with current income and
liable to full taxation. If profits accrue
one year after acquisition, these are
regarded as long-term capital gains
and qualify for rebates.

CAPITAL GAINS TAX A tax paid on
the gains arising from the disposal
(whether by sale, exchange, etc.) of
assets.

CAPITAL INTENSIVE A description
applied to those forms of production
in which a comparatively large amount
of capital equipment is used in relation
to the number of employees, e.g. in
o i l re f i n i n g , p o w e r s e c t o r, a n d i n
general, in the infrastructural areas.
Recently, India has al lowed private
sector infrastructure projects to
facilitate investment generation in
such a crucial area. It should be noted
that Indian government just does not
have the kind of massive funds
required for investment in such capital
intensive areas. Hence public criticism
of such private participation can be
extremely counter-productive and
may actually hurt Indian long-term
interests rather than furthering them,
as is often claimed.

CAPITALISM An economic system in
which there is minimal government
interference in production and in which
the means of production, distribution
and exchange are largely in private
hands. The US is the commonly
acknowledged champion of capitalism.
According to Karl Marx, capitalism is
the stage in political development
following feudalism and to be
IC : PTpnsgk01
 succeeded in turn by socialism and
f i n a l l y b y c o m m u n i s m . H o w e v e r,
communism based on Marx’s theory
has failed miserably in its strongest
citadel (erstwhile USSR) itself and it is
largely acknowledged now that
capitalism is a better way of managing
a n e c o n o m y. T h e r e a d e r s h o u l d
appreciate the fact that no economic
system is perfect and a system can only
be called better than others to manage
a particular economic structure.

CAPITALIZATION 1. The process of
converting the reserves built up by a
business (chiefly undistributed profits)
into paid up share capi tal. 2. The
accounting treatment given to the
capital expenditure of a business.

CAPITAL MARKET 1. The market for
long-term sources of capital. Those
seeking loans on the capital market are
industry, commerce and government.
T h e y a r e s u p p l i e d by c o m m e r c i a l
banks, the Stock Exchange and savings
institutions such as unit trusts and
pension funds. 2. Sources from which
long-term capi tal is raised f or the
setting up and sustained growth of
companies. The stock exchange is a
part of the capital market, not only
because it readily provides money for
new or existing ventures, but also
because it helps investors to trade in
their shares and maintains the liquidity
of investments. Investment in further
public and rights issues, convertible
and non-convertible debentures,
therefore, becomes an attractive
proposition and companies are able to
raise the resources they need. The
capital market is distinct from money
market - banks and lending institutions
- which provide short-term finance.

CARAT 1. A measurement of the purity
of gold. The maximum of 24 carats
indicates 100% pure gold. 2. A unit of
weight which is used in diamond
transactions. It is equal to 0.2 grams.

CARTEL An informal association of
companies which pursues policies
designed to reduce or eliminate
competition between members
IC : PTpnsgk01
through the establishment of price,
production and marketing controls.
Cartels thus hurt consumer interests
badly by unilaterally increasing prices.
Cartels may be national or
international, government-owned or
privately controlled. One international
cartel is OPEC. A notorious Indian
cartel is the cement industry cartel.

CASH COW A share which yields a
consistently high rate of dividends.
Also, a currently profitable business,
but one which does not have very
bright growth prospects and is
therefore used to fund other
enterprises.

CASH RESERVE RATIO (CRR), Cash
reserve ratio, refers to the portion of
deposits that banks have to maintain
with RBI. This serves two purposes.
First, it ensures that a portion of bank
deposits is totally risk-free. Second,
it enables RBI control liquidity in the
system, and thereby, inflation.

CAVEAT EMPTOR “Let the buyer
beware”, a phrase meaning that the
purchaser is responsible for checking
that the goods bought are in a good
condition. Usually it reflects a lack of
faith in quality.

CB or CUM-BONUS Shares with bonus
entitlement. Buyers of such shares
receive the bonus shares distributed
by a company on registration of their
shares before the RECORD DATE.

CD or CUM-DIVIDEND With dividend.
The buyer of a share at CD price is
entitled to the dividend declared if he
buys the share before the closure of
the company’s books, after which the
price becomes ex-dividend or XD. CD
shares are usually sold at a slightly
higher price than XD shares, reflecting
the value of the dividend to the buyer.
If the actual date of purchase preceded
the date of closure of the books, but
delivery came after closure was
announced, the stockbroker would
collect the dividend from the seller and
hand if over to the buyer.
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CENTRAL BANK A bank, usually
state-owned whose operations are
directed by the government as an
instrument of financial policy. Typical
functions of a central bank include
acting as banker to the state and the
commercial banks, controlling the note
i s s u e a n d m a n a g i n g t h e s t a t e ’s
currency and credit policies. The
German Bundesbank and the American
Fe d e r a l R e s e r v e a r e t h e m o s t
autonomous of all central banks in the
world. The Indian RBI will surely count
amongst the least autonomous ones !
Autonomy of the central bank reduces
governmental profligacies and
minimizes political interference.

CHEQUE A written order to a banker
authorizing him to pay a specified sum
of money to a person named in the
order, to his order or to bearer from
funds deposited with the banker.

CHEQUE TO BEARER A cheque made
payable “to bearer” is one which does
not name the payee. Anyone holding
the cheque may thus present it for
payment. If the cheque is crossed, the
money payable must be entered into
t h e h o l d e r ’s b a n k a cc o u n t . I f t h e
cheque is uncrossed, payment may by
paid over the bank counter upon
endorsement by the holder. A bearer
cheque does not require endorsement
when transferring title to the cheque.

CHEQUE TO ORDER A cheque made
payable to a named person or to his
order. Payment may be made into the
b a n k a cc o u n t o f t h e p a y e e i f t h e
cheque is crossed or over the counter
if it is uncrossed. A cheque to order
r e q u i re s endorsement when
transferring title to the cheque.

CLEARING HOUSE A place where
f i r m s w it h m a n y t r a n s a c t i o n s &
dealings among themselves can settle
their net receipts.

CLOSELY HELD COMPANY A
company whose equity shares are held
by a small number of shareholders.
Shares of such companies are usually
not put up for sale in the stock
exchange.
(158) of (202)

COMMERCIAL PAPER Commercial
paper is a debt instrument issued by
an organisation to raise short-term
funds to meet current expenditure
needs. Nearly all commercial
organisations borrow short-term funds
from banks for working capital until
they generate funds through sales.
These loans are based on the prime
lending rates of banks. The
creditworthiest borrower gets funds
at the prime lending rate while for
borrowers considered a higher risk
there is a mark up over the PLR.

COMMODITIES MARKET Market for
trading bulk and basic goods like grain,
edible oil, rubber, etc., cotton, yarn,
jute, etc. An alternative form of
investment fairly popular in the west,
but only in its infancy in India. Less
liquid than shares.

COMPANIES ACT 1956
Comprehensive l e g i s l a t i o n o n t h e
structure, financing and operations of
Indian companies. The Act covers:
types of limited companies; their
capital structure; share capital; issue
of shares at a premium, or in rare
cases, at a discount; forfeiture of
shares; rights shares; bonus shares;
transfer of shares; listing
requirements of shares; rights of
share-holders; dividends; reserves;
and liquidation of a company. The Act
has been amended from time.

COMPANY SECRETARY The chief
administrative officer of a company
whose responsibilities include various
statutory duties such as maintenance
of the minute book for board and
company meetings, maintenance of the
share register, and administration of
the payment of dividends to
shareholders and interest to
loanholders.

CONGLOMERATE A group of
subsidiary companies making very
different types of products linked
together into an organization. An
example is the Mitsubishi conglomerate
of Japan. In India, we have Tatas as
a good example.
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CONSORTIUM A group of companies
(sometimes from different countries,
and often offering very different
services) who join together to work on
a single large project, such as building
a railway system or a tunnel.

CONSUMABLES Goods which are
bought and eaten or otherwise
destroyed in use. These include
foodstuf fs or household cleaning
products, and also paper and
typewriter ribbons used in an office.

CONSUMER DURABLES Solid items
bought by the general public for use
in the house. These may include
washing machines, cookers and
refrigerators, which are likely to be in
use for several years.

CONSUMER GOODS Commodities or
services consumed directly to satisfy a
want rather than one used to produce
something else. For example :
S oftdrinks etc. Capi tal goods (lik e
machinaries), on the other hand, are
used to generate some other goods.

CONTRABAND Goods which are
brought into a country illegally, without
paying customs duty.

CONTROLLED ECONOMY An
economic system where all business
activity is planned and directed by the
government. The erstwhile USSR set
t h e t r e n d fo r s t a t e c o n t r o l l e d
economies. India followed and shaped
its 5-year plans on those lines.

CONVERTIBILITY The abili ty of a
currency to be exchanged for gold or
f o r a n o t h e r c u r re n c y. T h e ra t e o f
exchange may be fixed at a certain
point, or fixed within certain limits, or
may be determined by market forces
of demand and supply.

CONVERTIBLE DEBENTURE Fixed
interest secured loan certificates which
carry a provision of CONVERSION into
a certain number of shares AT PAR or
AT A PREMIUM on a certain date. When
only a part of the loan is converted the
certificate is called a partly convertible
debenture, and when the entire
amount is converted it is called a fully-
convertible debenture.
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COUNTERVAILING DUTY A d u t y
imposed on imports into a country as
a response to similar duties imposed
by other countries or to ward off unfair
competition.

CREDIT RATING 1. The amount
which a credit agency states a
borrower is capable of repaying. Credit
Rating can be done for stocks, bonds
or nations themselves. Some global
credit-rating agencies are Standard and
Poors (S&P), Moody’s, etc. CRISIL is
the Indian agency rating bonds etc. 2.
Measurement of the ability of a
company to meet its obligations such
as secured and unsecured loan
interests. CRISIL (or ICRA or CARE)
will do such an evaluation, at the
request of companies, but credit rating
of companies accepting fixed deposits
and floating secured non-convertible
debentures is not yet compulsory. 3. A
rating is an opinion of the credit rating
agency (CRA), on the future ability and
legal obligation of the company whose
instrument is being rated, to make
timely payments of principal and
interest on the obligation. The rating
m e a s u re s t h e p r o b a b il i t y t h a t t h e
issuer will default on the security over
the life of the instrument being rated.
This is expressed by means of a
symbol.

CREDIT SQUEEZE 1. The process of
restricting credit facilities or of making
cr edit more expensive by raising
interest rates. The credit squeeze is
ini tiated by governments acting
through monetary policies in response
to adverse economic conditions.
Standard features of a credit squeeze
are a limit on bank lending and
restrictions on hire-purchase. India had
a taste of it in 1992. 2. The opposite
of CHEAP MONEY, when the Reserve
bank restricts the money supply by
raising the lending rates. This makes
it difficult for companies to start
operations or expand business.
Economics activity is slowed down and
the stock market passes through a
recession.
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CRISIL or CREDIT RATING
INFORMATION SERVICES OF
INDIA LIMITED Jointly sponsored by
the Unit Trust of India and the Industrial
Credit and Investment Corporation of
India (ICICI), CRISIL has been
functioning since January 1988. It rates
the safety and timely payment of
interest on debt securities like
debentures and fixed deposits of public
and private sector companies. The
rating, subjected to periodic review, is
given in alphabetical symbols preceded
by D for Debentures and F for fixed
deposits. A rating of AAA signifies
highest safe ty, AA high safe ty, An
adequate safety, B inadequate safety,
C high risk, D default.

CROSS HOLDING A situation where
two companies each own shares in
each other, as a protection against
takeover bids.

CROSS RATE In inter-bank
transactions, all currencies are
normally traded against the US dollar,
which becomes a frame of reference.
So if one is buying with rupees a
currency X which is not normally
traded, one can arrive at a rupee-X
exchange rate by relating the rupee-
$ rate to the $-X rate. This is known
as a cross-rate.

CUM-RIGHTS or CR The buyer of a
cum-rights share is entitled to
subscribe to the forthcoming rights
issue announced by the company. The
date up to which a share can be bought
cum-rights is announced by the
company. After this date the share
becomes ex-rights. Cum-rights shares
are usually sold at a price higher than
XR shares.

CURRENCY The money in coins and
notes which is legal tender in a
particular country.

CUSTOMS DUTY A tax which is levied
on an imported good, being
administered by the Customs and
Excise authorities. The tax may be
specific or ad valorem.
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CYBERSPACE A term coined by author
William Gibson in his novel Neuromancer.
It represents the totality of all connected
computer networks and their contents
in a future world. It has become a slang
term for the Internet and the information
in it. CHIT FUNDS The chit fund is one of
India's oldest indigenous financial
institutions. By law, it is a contract
between subscribers and the foreman
of a chit company, wherein subscribers
shall pay a certain amount in regular
installments for a definite time period.
The successful bidder (subscriber to the
chit scheme) stands to gain from the
auction amount while the other
subscribers gain by the discount offered
by the successful bidder.

CYCLICAL SHARES Shares which rise
and fall in price with the state of the
national economy, of such industries as
construction, automobiles, cement,
engineering; or those affected by
international economy, such as shipping,
aviation, and tourism; also shares which
are affected by natural phenomenon,
like fertilizers and tea. Non-cyclical
shares would be drugs, insurance, basic
foodstuffs and many consumer products.

DTH DTH is the short form for direct-to-
home television services. It means that
the satellite television signals are directly
‘delivered’ to the viewer as opposed to
the current cable-delivered signals. In
India, we currently receive various
satellite channels through cable
operators who in turn receive the
satellite signals on their big dish antennae
and then transmit them via their cable
networks to our TV screens. The DTH
service cuts out the cable operator.
Unlike the current satellite channels,
which are transmitted on C-Band (lower
frequency) and which require big
receiving dishes of at least 8 feet
diameter, DTH signals are broadcast on
the Ku-Band (higher frequency) which
can be received by small dish antennae
measuring 1.5 to two feet. These can
be installed on rooftops or even outside
one’s window. The encrypted or
compressed signals received by your dish
outside the window are then decoded or
unscrambled by a set-top box installed
in your home.
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DALAL STREET Popular name of the
Bombay Stock Exchange, which is
located there. The B.S.E. is also
referred to as Jeejeebhoy Towers.

DEBIT CARDS A debit card combines
the functions of an ATM card and a
cheque. When you pay with your debit
card at a merchant establishment, the
merchant swipes your card through an
electronic point of sale (EOS) terminal
which is directly linked up with the
debit card issuing bank. When this is
done, the cardholder’s account
immediately gets debited. Debit cards
are issued by banks, but are used at
stores, not at the banks themselves.

DEBENTURES An instrument of debt,
called bond in the United States. A
debentureholder is a creditor to the
company who loans funds for a period
of 7-10 years against a fixed rate of
interest. After the stipulated loan
period the debentures are redeemed,
i.e. the loan is paid back, sometimes
with a very small premium. Debentures
are generally secured against the
company’s assets. Convertible
debentures can be either fully or partly
converted into a certain number of
shares, usually at a premium, after a
stated period of time. Convertible
debentures may carry a lower rate of
interest than non-convertible
debentures which are redeemed after
the stated period. A very conservative
investment; there is little risk but also
little prospect of appreciation.

DEBT-EQUITY RATIO Also called
financial LEVERAGE ratio in the U.S.
There are three methods of
calculating this ratio, the last being
more common: (1) the total liabilities
of a company divided by the
shareholders’ equity; (2) the total
long-term debt divided by
shareholders’ equity; (3) the total
long-term debt plus the par value of
preference shares divided by the par
value of equity shares. All the three
ratios measure a company’s solvency.

DEBT-TRAP A debt trap is something
a highly leveraged company is likely
to fall into if its performance is not
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s a t i s f a c t o r y. S e r v i c i n g o r p a y i n g
interest on a large debt may not leave
the company with any profit or
operating cash, which in turn will lead
to further borrowing. Unless there is a
dramatic turnaround in the company’s
profits, the trap closes on it, forcing
liquidation. It can also be defined as
the relationship between a company’s
long-term borrowings and the value of
its share capital including reserves.

DEED A written document which
formally sets out a contractual
agreement. The document requires the
signature under seal of the contracting
party and delivery to the other party in
order to establish a legally valid
contract.

DEFICIT An excess of liabilities over
assets or of expenditure over
revenue.

DEFICIT FINANCING The issuing of
government securities to provide funds
to cover a budgeted excess of
expenditure over revenue. Indian
government has, in recent times,
resorted to heavy deficit financing
thereby fuelling inflationary
pressures.

DELEGATION The practice of
conferring duties, powers and
responsibilities on subordinates while
retaining overall responsibility and
control. It leads to effective utilization
of time for planning out strategies.

DEMAND DRAFT A bill of exchange
on which no acceptance is required
and which is payable on presentation
by the holder.

D E M A T E R I A L I S A T I O N
Dematerialisation is a process by which
an investor’s physical share
certificates are taken back by the
company/registrar and destroyed.
Then an equivalent number of
securities are credited in the electronic
holdings of that investor. This is done
at the request of the in vestor. An
investor will have to first open an
account with a DP and then request
for the dematerialisation of his
certificates through the DP so that the
dematerialised holdings can be
credited into that account.
(161) of (202)

DEMOGRAPHY The statistical study
of human populations, including their
birth rate, death rate, occupational
distribution, e t c ., and the
investigation of trends and influences
upon their size and classifications.

D E M U T U A L I S A T I O N
Demutualisation refers to the
conversion of an existing non-profit
organisation into a for-profit company.
In other words, an association that is
mutually owned by members converts
itself into an organisation that is
owned by shareholders. The company
can take different shapes and forms,
that is, it could be either a listed or
unlisted company which may be
closely held or publicly held.

D E N A T I O N A L I Z E To t r a n s fe r a
nationalized industry from public
ownership to private ownership.

DEPOSITORY A depository is an
organisation where share certificates of
a shareholder are held in electronic form.
This is done at the request of the
shareholder through a depository
participant (DP). If an investor wants to
use services offered by a depository,
he/she has to open an account with the
depository through a DP - more about
him later - much like opening an account
with any branch of a bank to utilise its
services. In fact, in many ways , a
depository is similar to a bank.

DEPRECIATION 1. The reduction in
the value of an asset through wear
and tear, obsolescence, etc. 2. An
accounting device by means of which
the value of an asset is converted into
an expense for each of the accounting
periods during which the asset is
expected to contribute value.

DEPRESSION A period of economic
crisis with high unemployment and
sharp fall in trade. The worst of the
depressions was the Great Depression
of 1929 in the wake of the New York
stock exchange collapse.

D E R E G U L A T I O N T he reduction in
excessive rules & regulations. Indian
economy witnessed deregulation after
1991.
(162) of (202)

DERIVED DEMAND The demand which
exists for a commodity because of its
contribution to the manufacture of
another product. For example, the
d e m a n d fo r s t e e l o r w o o d p u l p i s
derived demand.

DEVALUATION The reduction in the
value of a currency in terms of other
c u r r e n c i e s , u s u a ll y e f f e c t e d b y a
change in the official rate of exchange.
A policy of devaluation may be
employed by a government in order to
re c t i f y a s e ve r e i m b a l a n c e i n t h e
balance of payments. Deregulation of
currency helps the nation increase its
exports because of the increase in
cost-competitiveness of its exports.

DEVELOPING COUNTRY A country
whose economic activity is at a basic
a n d l o w l e ve l , c h a r a c t e r i z e d by a
concentration on agriculture, little or
no industrial investment, and low living
s t a n d a r d s , w i t h h i g h f e r t il i t y a n d
mortality rates.

DIMINISHING RETURNS A
manufacturing situation which exists
when production expands at a rate
which is less than proportionate to the
rate of increased use of the factors of
p roduction. This usual ly oc curs in
conditions of maximum capacity or
excessive use of facilities, producing
breakdowns, wastage, etc.

DIRECT TAXATION Taxation levied
on individuals, assessed on their
income from a variety of sources, such
as wages, salaries, profits, and
interest. The tax may be collected from
the individuals personally or deducted
from their earnings and collected by
their employer.

DISGUISED UNEMPLOYMEN
Unemployment among those who want
to work but who do not appear in
u n e m p l oy m e n t f i g u r e s fo r v a r i o u s
statistical reasons. They include
housewives, young school-leavers and
the handicapped. Unemployed figures
invariably underestimate the number of
unemployed but by how much is a
matter of dispute.
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DISINFLATION The process or policy
of removing pressures on the economy
which are forcing prices upwards and
the real value of the monetary unit
downwards. Pressure may be removed
by curtailing expenditure through
credit restrictions and a dear money
policy, and by taxation.

DISINVESTMENT Specially in the
Indian context, it refers to the
process of offloading of shares in a
firm by a party. The government of
India has partially disinvested its
holding in several Public Sector
Undertakings (PSUs) with the ultimate
aim of privatising them to increase
accountability and productivity.

DIVERSIFICATION Expansion of a
f i r m i n t o a n u n r e l a t e d i n d u s t r y.
Reasons for diversification include
risk-spreading, the avoidance of
seasonal trade fluctuations, or
ensuring increase of growth-rate.
Diversification, unlike vertical
integration with which it otherwise has
similarities, cannot increase monopoly
power.

DIVIDEND Payment made to
shareholders, usually once or twice a
year out of a company’s profits after
tax. Dividend payments do not
distribute the entire net profit of a
company, a part or substantial part of
which is held back as reserves for the
company’s expansion. Dividend is
declared on the face value or par
value of a share, and not on its market
price. There is no legal compulsion on
the company to pay a certain minimum
dividend on equity shares.

DIVISION OF LABOUR A method of
organizing the production process
which involves the specialization in
separate operations by different
individuals. This assists the expansion
of output through the development of
o p e r a t o r s k i l l s a n d d e x t e r it y, t h e
minimizing of delays involved in
transferring to other operations and
the potential for mechanical
assistance arising from the
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simplification of work. Such
concentrated monotonous work
a r i s i n g f r o m s p e c i a l i z a t i o n m a y,
however, have adverse psychological
effects on operatives.

DOMICILE A country where an
individual is deemed to live
permanently or where a company has
its registered office.

DRY GOODS Goods such as textiles,
d r a p e r y, e t c ., a s o p p o s e d t o
perishables, such as grocery articles.

DUMPING The practice of selling a
product in different markets at different
prices. The term is more generally used
to describe the practice of selling goods
abroad at prices below the cost of
production or below the competitive
price level in order to achieve some
income. Dumping is one of the few
practices which, it is generally agreed,
may be protected against by the
imposition of import duties.

EASY TERMS Terms of repayment of
a loan which is either spread over a
long period or is granted at a low rate
of interest.

ECONOMIC CYCLE The period during
which an economy expands, then slows
down, and then expands again.

ECONOMIC GROWTH The process of
development and the policies designed
to achieve economic development.
Growth may be measured by a variety
of criteria, such as per capita
i m p r o v e m e n t i n li v i n g s t a n d a r d s ,
increase in the volume and value of
capital investment, production, etc.

ECONOMIC LIFE The period ov er
which an asset is expected to
contribute value. It is influenced by
such factors as the rate of usage,
obsolescence, etc.

ECONOMIC ORDER QUANTITY That
quantity of material or items which is
most economic to order and to stock,
taking into account all relevant factors.
Thus, it would reflect quantity
discounts, tied-up capital cost,
spoilage, transport cost etc.
(163) of (202)

ECONOMICS The scientific study of
human behaviour relating to the
allocation of resources in order to
satisfy personal and national
requirements.

ECONOMIC SANCTIONS Restrictions
on trade with a country, imposed by
another government with the aim of
changing that country’s political
system or of restricting that country’s
activities on the international scene.
For example, the US often threatens
Japan with severe trade sanctions
unless its conditions regarding opening
up of the Japanese market are met.

ECONOMIC SURVEY The Economic
Survey is an annual commentary on
the state of the economy which is put
together by the Union finance
m i n i s t r y. T h e s u r v e y i s t h u s t h e
finance ministry's version of economic
developments during the course of the
year. It is presented in Parliament
each year shortly before the general
Budget and just after the railway
budget.

ECONOMY OF SCALE The benefit of
an increase in production through a
lower unit cost which results from
expansion of the size either of inputs
of factors of production or of
operations.

ELASTICITY A measurement in
economics of the degree of response
of a change in one factor to a change
in a related factor, expressed in a price
demand, price-supply or demand-
income relationships.

ELASTICITY OF DEMAND The extent
of a response of demand for a product
to a change in its price. It may be
expressed mathematically by dividing
the percentage change in demand by
the percentage change in price.
Elasticity of demand is affected by such
factors as the availability of substitutes
and the nature of the product, i.e. a
necessity or a luxury.
(164) of (202)

ELASTICITY OF SUPPLY The extent
of a response of supply for a product
to a change in its price. It may be
expressed mathematically by dividing
the percentage change in supply by
the percentage change in price.

ELECTRONIC MAIL A system of
sending messages from one computer
terminal to another, using telephone
lines.

EMBARGO A prohibition placed on
goods or ships entering or leaving a
c o u n t r y. T h e p r o h i b i t i o n s m a y b e
aimed specifically at one country or
may be general in its application.

EMBEZZLEMENT The unauthorized
appropriation of money belonging to
an employer or his business.

EMPLOYEE STOCK OPTION PLANS
An Employee Stock Option Plan (ESOP)
is an employee benefit plan, which
makes the employees of a company
o w n e r s o f s t o c k i n t h a t c o m p a ny.
Several features make ESOPs unique
as compared to other employee
benefit plans. Most companies, both
domestic and worldwide, are utilising
this scheme as a essential tool to
reward and retain their employees.
Currently, this form of re-structuring
is most prevalent in IT companies
where manpower is the main asset.

ENTREPRENEUR A person who both
manages a business and assumes the
financial risks involved in business,
standing to make a profit or to lose
the capital he has invested. He is
considered by conventional economic
theory to be the prime catalyst in the
market system.

EQUILIBRIUM PRICE The price at
which quantity demanded equals
quantity supplied. In a free market the
price is set by reference to the
interactions of the forces of demand
and supply. In this situation there is
no impetus for the supplier to alter
his output or for the consumers to
change their buying habits.
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EQUITIES Shares in companies, as
distinguished from other kinds of
investment, such as gold, real estate,
debentures, fixed deposits, units in
mutual funds, government bonds, etc.

EQUITY FUNDS These are mutual
funds, which invest in equity shares
of companies. Equity funds are
recommended by most fund houses
because equities, as an asset class,
have historically delivered higher
returns compared to debt funds over
a long term. Equity funds, by their
very nature, tend to be volatile, that
is, in the short term their value can
go up or down. Therefore, they are
not meant for those investors who
need a regular and stable stream of
easily predictable income.

EQUITY SHAREHOLDERS They are
the owners of the company, sharing
its risks, profits, and losses. They
have a residual claim on the earnings
and assets of a company. They are
paid their share of the company’s
profits after all other claims are met,
and in the event of the liquidation of
the company they share whatever is
left of the company after all its
creditors have been paid. They enjoy
limited liability, i.e., liability only to the
extent of their shareholding.

ESTABLISHMENT CHARGES The
costs of people and property in a
company’s accounts.

ESTATE DUTY A tax on the value of
property which passes to others on
the death of a person.

EURO The European nations have
decided to merge their economies in a
historic way through the EURO, a
common currency. For more details,
check out the article given in this book
elsewhere.

EURODOLLARS Dollar funds held in
European commercial banks. The funds
provide a source of short-term
international loan finance and
supplement the currency reserves of
the European central banks.
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EUROMARKET 1. The European
Community seen as a potential market
for goods or services. 2. The trading
market in Eurocurrencies.

EUROPEAN CURRENCY UNIT The
unit of account used by the European
Monetary System. Its value is equal
to the aggregated value of the
member-nations’ currencies.

EUROPEAN ECONOMIC COMMUNITY
A customs union comprising 15
countries : Belgium, Denmark, Greece,
Ireland, France, Italy, Luxembourg,
the Netherlands, Portugal, Spain, the
United Kingdom, Germany, Finland,
Austria, and Sweden. The purpose of
the community is to achieve eventual
unification through the integration of
economic and political activity. The
EEC is now popularly called the EU. It
will, one day, represent the strongest
trading bloc on Earth threatening the
hegemony of the US.

EUROPEAN FREE TRADE ASSOCIATION
An association which originally
comprised seven countries: Austria,
Norway, Portugal, Sweden, Switzerland,
Denmark and the United Kingdom. EFTA
was designed to eliminate tariff and
trade restrictions between member
countries, each, however, retaining its
own trade policies in relation to non-
member countries. The entry of the
United Kingdom and Denmark into the
EEC in 1973 undermined EFTA as a free
trade area.

EUROPEAN MONETARY SYSTEM A
system designed primarily to limit the
fluctuations of exchange rates of
member-countries within prescribed
limits. Agreement must be reached in
advance before a currency can be
revalued or devalued to a greater
extent than permitted under the
system, and financial support for
currencies is provided by the European
Monetary Fund to which all members
contribute. The EMS was formed in 1978
and its original members were Belgium,
Denmark, France, Luxembourg, the
Netherlands and West Germany. Ireland
and Italy joined later the same year.
(165) of (202)

EXCHANGE CONTROL The
governmental regulation of foreign
currency transactions in order to
ensure the strength and stability of
the national currency and to protect
gold and foreign currency reserves.

EXCHANGE RATE PARITY The fixed
price relationship at which two
currencies are convertible. Parity is
determined by government policy and
maintained by various measures,
including, for example, the operation
of the exchange equalization account.

EXCHEQUER The government
department dealing with public
revenue.

EXCISE DUTY A tax levied on
domestically produced goods at the
production stage, such as beer, spirits,
and tobacco, or raised as fees for
licences permitting the manufacture of
such goods. Excise duties are collected
and administered by local authorities
and the Customs and Excise
authorities.

EXCLUSIVE MARKETING RIGHTS
(EMRS) If a product is approved for
product patents and marketing prior
to January 1, 2005 in any WTO
signatory country, the marketer will
be allowed exclusive rights on
marketing the drugs in India for a
period of five years.

EXECUTIVE A senior member of a
business with commensurate
management duties and
responsibilities.

EXECUTIVE DIRECTOR A director of
a company who works full-time in the
company and has the power to make
decisions in a certain area of the
company’s activities.

EX-OFFICIO MEMBERSHIP
Membership of a committee which
derives not from election but from the
position which the person holds within
an organization.

EXPORT OF CAPITAL The outflow of
domestic currency which is used to
finance investments in foreign
countries.
(166) of (202)

FEMA The Foreign Exchange
Management Act (FEMA) is a law to
replace the Foreign Exchange
Regulation Act, 1973. Any offense
under FERA was a criminal offense
liable to imprisonment, whereas FEMA
seeks to make offenses relating to
foreign exchange civil offenses.

FACTORS OF PRODUCTION The
resources which are combined to
produce goods and services: they
comprise land, labour and
entrepreneurial skill.

FAIR TRADE An international trading
situation in which goods are
exchanged on equal terms. Thus,
duties and restrictions imposed by one
country are met by reciprocal duties
and restrictions by other countries.
Duties may also be imposed on imports
to nullify any price advantage they
possess over home-produced goods.

FEASIBILITY STUDY An
investigation of a proposed or existing
plan or project in order to determine
its technical and financial viability.

FEEDBACK The passing of information
relating to operational performance,
etc. back along a system so that
effective action can be taken to
remedy any deviation of an operation
from a formulated plan.

FINANCE COMMISSION An agency
that decides on the share of Centre
and states in the taxes raised by the
f o r m e r. T h e b a s i c fu n c t i o n o f t h e
Finance Commission is to make
recommendations to the President
(the Chairman and members of the
Commission are appointed by the
President on the advice of the
government) regarding sharing of
taxes and the principles regarding
grants-in-aid. The need for grants-in-
aid arises because even after tax
devolution, there are some states that
continue to have a revenue deficit.

FINANCIAL INSTRUMENT Any
investment which can be traded, such
as shares, certificates of deposit, etc.
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FINANCIAL INSTITUTIONS (FIs)
Government and public corporations
like the Life Insurance Corporation of
India, the Unit Trust of I ndia, and
other mutual funds with large
investible resources which operate in
the stock market, often beneficially,
by buying large chunks of shares when
prices are falling, generally providing
support to the market. They also
support, to a considerable extent,
new public issues, playing an
important role in the PRIMARY
MARKET as well. The presence of the
financial institutions in the stock
market, and their large-scale
participation in its activities, has been
responsible for the market behaving
in a fairly steady fashion.

FINANCIAL RATIOS Ratios of values
obtained from a firm’s financial
statements used to study the firm’s
health and the price of its shares. The
more important among these are
C U R R E N T R AT I O , P / E R AT I O,
E A R N I N G S TO E Q U I TY R AT I O,
P AY O U T R AT I O , p r i c e - b o o k v a l u e
ratio, profit before tax to sales ratio,
and QUICK RATIO. Accounting figures
which help arrive at these ratios
include BOOK VALUE, DIVIDEND
COVER, CURRENT YIELD, EPS,
VOLATILITY, etc.

FINANCIAL STRUCTURE Distinguished
from capital structure of a company
which includes only long-term debt and
equity, the financial structure of a
company is revealed on the right-hand
(liabilities side of a company’s balance
sheet, which includes all the items
which finance the assets (left-hand
side of the balance sheet): current
liabilities, long-term liabilities, and
shareholders’ equity. The financial
structure is influenced by the growth
and stability of sales, market
competition, the quantum of profits,
the attitude of the short-term lenders,
and the efficiency of the company’s
management. The financial structure
helps take LEVERAGE decisions.
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FINANCIAL YEAR A period for which
a business draws up its accounts. While
normally running for 12 months, it can
be for a shorter or longer period.

FISCAL 1. Pertaining to public
revenues. 2. Pertaining to general
financial matters.

FISCAL YEAR The twelve-month
period, beginning on the sixth of April,
which is used for central government
accounting and taxation purposes.

FIVE-YEAR PLAN A plan for a
country’s economy converting a period
of five years. Five-year plans are used
in planning controlled economies.

FIXED ASSETS Those resources
which are expected to be of continued
value to a business over a number of
years. The cost of such assets
(bui ldings, plant, etc.) is generally
written off against the profits of the
years during which benefit is derived
from them.

FIXED BUDGET A budget which
remains unchanged during the budget
period, irrespective of the level of
activity actually attained.

FIXED COSTS Any costs which tend
to be unaffected by variations in
volume in output. In some cases major
changes in volume will affect fixed
costs, as when a production facility is
closed down or when extra output can
be achieved only by increasing
production facilities.

FIXTURES AND FITTINGS Those
resources which, without being part
of the original building structure, are
attached to a business premises, such
as piping, radiators, etc.

FLAGSHIP Most important item in a
company’s product line. A flagship
company is the most important
company in a conglomerate. Ex. Tisco
in the Tata group of India.

FLEXIBLE BUDGET A budget which is
designed to change in relation to the
attained level of activity. It is therefore
essential to identify and separate costs
which are fixed, semi-fixed or variable,
since not every cost element will change
with changes in the activity level.
(167) of (202)

FLOATING EXCHANGE RATE The
rate at which domestic currency may
be exchanged for foreign currency or
gold, being determined by the
interactions of the forces of demand
and supply for the currencies and
gold. A gov ernment may, howev er,
operate to prevent wide daily
fluctuations in the exchange rate. Also
called free exchange rate.

FLY-BY-NIGHT OPERATORS Here-
today-gone-tomorrow operators who
depart after trimming the investors.
Over the past 2 - 3 years, several fraud
promoters have floated companies
that, in fact, never existed. Thus, they
floated issues and collected huge sums
and vanished thereafter. This created
a crisis of confidence in the retail
investor and the Primary Market
suffered badly due to this.

FORECASTING The prediction of the
future change in a variable. Techniques
for forecasting include extrapolation of
growth curves, extrapolation of time
series and regression analysis.

FOREIGN CURRENCY RESERVES
The reserves held by one country in
currencies of other countries, used to
support its own currency and pay
foreign debts. The Indian for ex
reserves at present stand at nearly $
23 billion.

FOREIGN EXCHANGE The process of
trading one currency for another. This
t a ke s p l a c e o n t h e i n t e r n a t i o n a l
exchange markets where trading sets
t h e e xc h a n g e ra t e s o f c u r re n c i e s .
Fo r e i g n c u r r e n c y i s r e q u i r e d b y
individuals, businesses and
governments to finance the purchase
of goods and services and to make
loans to other countries.

FORTUNE 500 An annual listing by
FORTUNE magazine of the 500 largest
U.S./non U.S. industrial corporations by
their assets, net income, equity capital,
EPS etc. A FORTUNE 500 company
signifies a major company. So, too,
FORBES 500, the 500 largest public
companies.
(168) of (202)

FORWARD DEALING Contracts to
buy or sell specific quantities of
goods, currency, of freight at a stated
price and a stated time in the future.
These contracts are made in trade,
by buyers who wish to cover
themselves against price fluctuations,
and sellers who wish to benefit from
them. Forward contracts are bought
and sold in the FUTURE MARKET.

FORWARD TRANSACTION A forward
transaction consists of a commitment
to buy or sell a specific amount of
foreign currency at a later date or
within a specific time period at an
exchange rate stipulated at the time
the deal is struck. The delivery or
receipt of the currency takes place on
the agreed upon value date. In
contrast to spot transactions, the
commitment (conclusion of the
agreement) of a forward transaction
and the fulfillment (delivery and
payment) are clearly separate in terms
of time.

FORWARD INTEGRATION The
merger of one firm with another that
is nearer the end of a production or
selling process. An example would be
the merger of a publisher with a
bookshop chain or a brewer with a
hotel group.

FRANCHISE An agreement by which
a company grants to another the right
to use the company’s name and
trademarks, and to market the
company’s goods or services in return
for a fee.

FRAUDULENT TRADING The carrying
on of a business with intent to defraud
creditors. Directors may be personally
liable for debts incurred without
l i m i t a t i o n o f l i a b i l i t y i f, t o t h e i r
knowledge, trading has continued
without any reasonable prospect of
the company being able to pay its
debts.

FREELANCE An independent worker
who works for several different
companies and is paid a fee, but is
not employed by any of them.
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FREE MARKET ECONOMY An
economic system where the
government does not interfere in any
way in business activity.

FREE TRADE International trade
unrestricted by protective duties and
prohibitions.

FREE TRADE AREA A trading
arrangement entered into by a number
of countries whereby tariffs and trade
restrictions between the participants
are eliminated, each country retaining
its independent trade arrangements
with other countries outside the area.

FREIGHT 1.The ordinary conveyance
of goods as by common carriers 2.The
payment due for transporting goods
by land, sea or air.

FRINGE BENEFIT A payment in kind
in addition to remuneration for work,
for example, luncheon vouchers,
h o l i d a y p a y, s u b s i d i z e d c a n t e e n
services, sports facilities, non-
contributory pension schemes, a
company car, etc.

FULL EMPLOYMENT T h e l e v e l o f
employment at which everyone willing
and able to work is employed.

FUNDAMENTAL ANALYSIS Scientific
study of the basic factors which
determine a share’s value. The analyst
studies the industry and the company’s
sales, assets, liabilities, debt
structure, earnings, products, market
share: evaluates the company’s
managements, compares the company
with its competitors, and then
estimates the share’s intrinsic worth.

FUTURES Securities or goods bought
or sold for future delivery. There may
be no intention to take them up but to
rely upon price changes in order to
sell at a profit before delivery.

GALLOPING INFLATION Very rapid
inflation which a government finds
almost impossible to reduce.

GATT (GENERAL AGREEMENT ON
TARIFFS AND TRADE) An
international commercial treaty which
specifies a code of conduct for
international trade, notably the
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elimination of discriminatory
preference duties, and provides for
trade conferences from which tariff
reductions for wide categories of
goods have resulted. Some 120
members representing over 80% of
world trade subscribe to the treaty
and it has now a permanent base in
Geneva. Recently approved by
commerce ministers of all members
nations in April 1994 at Marakkesh
(Morrocco). Converted to the WTO.

GENTLEMAN’S AGREEMENT A
contractual arrangement made orally
and without any formal legal evidence
of its existence and which is therefore
binding on two parties in honour only.

GILT-EDGED SECURITIES Securities
issued by the government which earn
a fixed rate of interest and are dealt
in on the Stock Exchange. They may
be irredeemable, e.g. Consol, or
redeemable, e.g. savings bonds. This
is considered a safe investment, since
the government is unlikely to renege
on its debts, but usually offers a
relatively low rate of interest.

GLOBAL DEPOSITORY RECEIPTS
GDRs are Indian securities listed in an
overseas stock exchange other than
American stock exchanges.

GOING PRIVATE Change from public
ownership of a company to private
ownership either by the company
repurchasing all its shares, or by a
private buyer doing so. This usually
happens when the company isn’t doing
well and the market price of its shares
has fallen below their book value, making
it possible to acquire the assets cheaply.
Sometimes the management itself will do
so to fend off takeover threats.

GOING PUBLIC Offer by a private
company to sell its shares to the public
by making a public issue. It does so to
expand its capital base and finance
growth plans. After the public issue
the shares of the company may
become marketable, i.e., if the listing
requirements of stock exchanges are
met. Some notable examples are
Nirma, Godrej, etc.
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GOLDEN HANDSHAKE Compensation
paid to an executive of a company on
his displacement and especially on his
retirement.

GOLD RESERVES That part of a
country’s reserves which is
represented by holding of gold.

GOODWILL The trading benefit which
an existing business derives from its
custom and reputation. This benefit
may be evaluated financially when
determining the purchase price of a
business.

GRATUITY A gift, generally of
money, over and above any payment
due for a service.

GREAT DEPRESSION The widespread
failure of business, wiping out of
p r o f i t s , l a r g e - s c a l e b a n k r u p t c y,
massive unemployment, and an
abysmally depressed standard of
living in the United States from 1929
for about a decade, triggered off by
the GREAT CRASH of 1929.

GROSS DOMESTIC PRODUCT The
value of goods and services produced
in an economy. The value may be
measured by aggregating market
values of goods and services or by
aggregating incomes from
employment, profits, dividends, etc.
(i.e. factor cost, which is equivalent
to market values less purchase tax
plus subsidies). It is equivalent to
gross national product less the value
of net property abroad. (GNP)

GROSS NATIONAL PRODUCT The
total monetary value of all the goods
and services produced by a country
in a year, expressed either at factor
cost or at market prices.

GROUP OF SEVEN (G7) The seven
major industrialized nations whose
finance ministers meet regularly to
discuss international financial
problems. Originally the Group of Five
(United Kingdom, United States,
France, West Germany, Japan), later
expanded to seven by including
Canada and Italy. G7 has witnessed a
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decline in its effectiveness in recent
years due to the emergence of
several powerful economies like the
east Asian ones.

GROUP OF FIFTEEN (G15) The group
of fifteen developing nations as
diverse as India, Brazil etc. Basic aim
to promote inter-country trade and
commerce. Has been also called the
Garrulous 15 by some observers as
little seems to have been achieved
over the past several years through
G15 deliberations.

GROWTH AREAS Geographical areas
with a higher than average
concentration of industrial or
commercial enterprises, which have
developed rapidly, usually through the
operation of local or central
government incentives or following the
provision of effective transport
rapidly.

GROWTH FUND A mutual fund which
invests only in equity shares which
offer chances of good capital growth.

GROWTH MARKET A market where
demand for product or service is
growing rapidly.

HAMMERING Concerted selling of
shares by operators to bring the price
d o w n , o f t e n s h o r t - s e l l i n g h e a v il y.
Term associated with bears.

HARD CASH M o n e y i n n o t e s a n d
coins, as opposed to cheques and
credit cards.

HARD COPY A printed record of
figures, words, etc. produced by a
machine. Electronic processing data
frequently necessitates the use of
readable output as a permanent
record.

HARD CURRENCY A currency which
has a stable or upwardly mobile
exchange rate. Consequently it is an
acceptable medium for international
trade.

HARD SELL A vigorous advertising
and promotional campaign which is
designed to increase the sales of a
product.
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HEADHUNT To approach managers
and executives in order to try to
persuade them to move to jobs in
other companies.

HEDGE Action taken to reduce
exposure to risk.

HIDDEN RESERVE The assets of a
business when they are greater than
the valuation disclosed in the balance
sheet. This could arise when assets are
valued at cost price in the balance
sheet rather than market price when
the latter figure is higher.

HIDDEN UNEMPLOYMENT A state of
unemployment characterized by a level
of employment in an industry which is
higher than necessary or justified,
there being no alternative employment
available.

HIRE PURCHASE A contract for the
purchase of goods, whereby in return
for periodic payments of the purchase
price the buyer immediately receives
the article. Ownership of good is only
transferred when the contracted price
has been paid.

HISTORIC COST The actual price
paid for an asset or resource. The
balance sheet evaluation of an asset is
frequently made on this basis rather
than on its current market value or
value in present or alternative use.

HOLDING COMPANY A company
which has a contro ll ing interest in
another company through a majority
shareholding in it.

HORIZONTAL INTEGRATION The
merger of firms with identical functions
in an industry. There are many motives
for this including the sharing of
specialist facil ities, benefiting from
economies of scale, etc., but it is always
true that the greater the degree of
horizontal integration in an industry the
greater the monopoly power that exists.

HOSTILE TAKEOVER Takeover of a
company by an individual or a group
or another company which doesn’ t
approve of the management of the
target company or its corporate
philosophy. Such a takeover is resisted
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by the target company, using many
ploys like the GOLDEN PARACHUTE or
POISON PILL or SHARK REPELLANT.

HOT MONEY Funds which are
transferred at short notice between
international financial centres in
response to changes in relative rates
of interest and in anticipation of
exchange rate movements.

HYPERINFLATION A period of swiftly
rising prices, usually assumed to be a
rate of 50% a month or more. Such a
rate cannot be sustained and invariably
leads to social breakdown and a return
to a barter economy. Perhaps the worst
recorded case took place in Hungary in
1945-46 when prices rose at an
average rate of 19,800% a month.

IDLE CAPACITY The unused
productive facilities of a business,
especially plant and machinery.

IDLE TIME Any time lost from the
available productive working day
resulting, for example, from machine
breakdowns.

IMPERFECT COMPETITION A
si t u at i o n w i t h a l ar g e b u t d i st i n ct
number of sellers and buyers in which
some of the conditions of perfect
competition have not been fulfilled.
Characteristics of imperfect
competition include product
differentiation, advertising and the
formation of cartels. In this situation
prices will be above marginal costs and
consequently resources will not be
allocated efficiently.

IMPORT A product from a foreign
manufacturer sold in another country. To
control its balance of payments, a country
will sometimes restrict imports by means
of prohibition, currency restrictions,
import duties and import quotas.

IMPORT DUTY A tax levied on goods
entering a country. The rate of tax
may be ad valorem (i.e. according to
the value of the goods) or specific
(i.e. a specific rate for a particular
type of good). Imports which are
subsequently re-exported may have
any duty paid refunded.
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IMPORT LEVY A tax levied on
imports, especially a tax in the
European Community on imports of
farm produce from outside the
European Community.

IMPORT LICENCE A government
licence which permits the unrestricted
entry of types of good contained in
published schedules (an open general
licence OGL) or the entry of a specific
type of good by a specified importer
(general licence).

IMPORT QUOTA An official maximum
quantity placed upon the importation
o f a s p e c if i c t y p e o f g o o d . T h e
maximum may be related to the
importation of a good from a particular
country or to the total imports of a
particular good.

INCENTIVE An inducement to improve
performance. An example would be a
bonus to an employee for extra output,
or a reduction in income tax,
encouraging everybody to earn extra
income.

INCOME REDISTRIBUTION The
sharing of wealth within a community
in an attempt to reduce inequality. The
main means of redistribution available
t o a g ov e r n m e n t a re a s y s t e m o f
progressive taxation (with
proportionately higher rates of tax at
high income levels) and expenditure
on social services (which benefit the
poor more than the rich).

INCOME TAX A tax which is levied on
personal income. The bases of
assessment and collection vary for
dif fe re n t t y p e s o f i n c o m e a n d a re
detailed in the various tax schedules.

INCOME TAX RETURNS A completed
form which officially declares income
to the tax authorities.

INCORPORATED COMPANY A
company registered with the Registrar
of Companies, having completed
formalities associated with registration.
Incorporation secures the privileges &
imposes the obligations which are
specified in the Company Acts.
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INCREMENTAL COST The cost of
making one single extra unit above the
quantity already planned.

INDEMNITY An undertaking to make
good costs or losses incurred by
another person. The undertaking
takes the form of a contract with a
third party, the indemnifier assuming
primary liability on the contract.

INDEX A measurement of the trend of
share prices. It is not just an average
of share prices, but weighted to reflect
the number of shares outstanding for
an individual scrip. Thus, a 25% price
fluctuation in a scrip with a small
shareholding may have a much less
impact on the market than a 3%
fluctuation in a widely held scrip. The
index thus gives an idea of the value
change in share prices rather than just
price change. The most widely known
share price indices are the Dow Jones
Industrial Average and Standard &
Poor’s 500 in New York, the Financial
Times Stock Exchange 100 Index or FT-
SE 100 (affectionately called Footsie)
in London, and the Economic Times,
Financial Express, Business Standard,
and Bombay Stock Exchange Sensitive
Index (SENSEX) in India.

INDEX FUTURES Are securities that
facilitate an agreement between a
buyer and a seller for the purchase and
sale of a particular asset at a specific
future date. The asset in the case of
index futures is an index - it could be
the S&P CNX Nifty index or the BSE30
sensex. A futures contract involves an
obligation on both the parties to fulfill
the terms of the contract.

INDIRECT LABOUR COSTS The costs
of paying workers who are not actively
involved in the manufacturing
process, such as accounts staff etc.

INDIRECT TAXATION A form of
taxation which is levied and collected
from someone other than the final
recipients of the goods in question.
The tax is legally passed on by the
payer to the final consumer by way of
an inflated sales price. An example is
value added tax.
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INDUSTRIAL DESIGN The design of
products which are manufactured by
machines, such as cars, domestic
appliances, etc.

INDUSTRIAL ESPIONAGE The action
of trying to find out secrets
concerning a competitor ’s work or
products, usually by illegal means such
as bugging offices, bribing employees,
etc.

INDUSTRIAL ESTATE An area of land
near a large town, which is especially
set aside for factories, warehouses and
other businesses.

INFLATION The rate at which prices
grow in an economy. Thus, reduced
rate of inflation would mean that the
rate at which prices will rise has slowed
down, but not that the prices will fall.

INFRASTRUCTURE It reflects the
basic backbone of any economic
system. It is the capital which has been
invested within an economy, which is
peripheral to economic activity but
facilitates such activity, e.g. a transport
network, or which contributes to the
social well-being of the community, e.g.
health and education services. Other
examples : oil, power, coal, cement,
telecommunication, etc. A fundamental
difference between the developed
nations like the US and developing
nations like India is related to the
quality of infrastructure. Infrastructure
development requires massive
resources which the governments of
developing nations find hard to mobilise.
H e n c e p r i va t e s e c t o r p a r t i c i p a t i o n
becomes crucial. But social thinking and
poli tical pressures can stymie such
efforts. However, the GoI has not taken
the drastic measures required, to attract
foreign capital in infrastructure. Such
instances can be lethal at this stage of
development of nations like India which
have pathetic infrastructure. All the
developed nations have extremely well-
dev e l o p e d i n fra s t r u c t u re s w h i c h
facilitates speedy economic
development. Infrastructure holds the
key to the salvation of poor nations like
India. Hence it is extremely important
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that a national consensus should
emerge regarding its development.

INFRINGEMENT OF PATENT The act
of illegally using or making or selling a
patented invention without the
permission of the holder of the patent.

INSIDER Not just a person working
in a particular company, but one in a
key position in possession of crucial
f a c t s a b o u t t h e c o m p a ny, s u c h a s
contracts won, takeover bids, current
results, etc. which the public do not
yet know. Insiders include owners,
executives and consultants of a firm.
It is illegal for an insider to indulge in
speculative trading in the company’s
shares, although the proverbial ‘circles
close to the management’ who engage
in buying or selling sprees before good
or bad news is made public, act on
insider information.

INSOLVENCY The state of being
unable to pay debts or meet financial
obligations when they become due.

INSURANCE REGULATORY AUTHORITY
BILL T h e I n s u r a n c e R e g u l a t o r y
Authority (IRA) Bill is a legislation that
provides statutory powers to the IRA.
It gives the IRA powers to regulate the
i n s u ra n c e i n d u s t r y b y p re s c r i b i n g
prudential norms such as solvency
margins (minimum net worth
requirements for issuing insurance
cover) and investment guidelines for
insurance companies.

INSTITUTIONAL INVESTOR Mutual
f u n d s , U n i t Tr u s t , L i f e I n s u r a n c e
Corporation of India, banks, and other
institutions which in vest their
members’ money in shares and bonds,
are institutional investors. Since they
trade in large volumes, they often play
a s u p p o r t i v e r o l e w h e n t h e s h a re
m a r k e t i s b e a r i s h . W h e n o rd i n a r y
investors, and even speculators to a
certain extent, shy away from the share
market, it is the institutional investor
who often accounts for the bulk of the
trade done on the stock exchange, over
a sustained period. The absence of
institutional investors in a bear market
can have damaging results.
(173) of (202)

INSTITUTIONAL INVESTORS
Organizations which invest in stocks
and shares, etc. the major proportion
of funds deposited with them. They
i n c l u d e t h e i n s u ra n c e c o m p a n i e s ,
investment trusts, trade unions and
unit trusts. They have grown steadily
in significance and are now much more
important than private investors.

INSURANCE A contract whereby one
party, the insurer, in consideration of
a c e r t a i n s u m , t h e p re m i u m ,
undertakes to indemnif y the other
p a r t y, t h e i n s u r e d , a g a i n s t l o s s
resulting from the occurrence of certain
events. The contract is always for a
determinable period, either of fixed
duration or on the occurrence of some
specified event.

INTANGIBLE ASSETS Assets which
have a value, but which cannot be
seen, such as goodwill, patents, brand
names, etc.

INTELLECTUAL PROPERTY Intangible
assets, such as patents, copyright, and
know-how.

INTEREST RATE SWAP An interest
ra t e s w a p i s a f i n a n c i a l c o n t ra c t
between two parties exchanging or
swapping a stream of interest
payments on a 'notional principal'
amount on multiple occasions during a
specified period. Such contracts
generally involve the exchange of a
'fixed to floating' or 'floating to floating'
rates of interest. Accordingly, on each
payment date - that occurs during the
swap period - a cash payment based
on the differential between fixed and
floating rates, is made by one party to
another. The party which structures the
swap charges a fee. We say notional
principal because it is the interest
which is seen as the `product'.

INTERNATIONAL BANK FOR
RECONSTRUCTION AND DEVELOPMENT
(IBRD) Popularly called the WORLD
BANK.

INTERNATIONAL DEVELOPMENT
ASSOCIATION An organization which
was established in 1960 as a
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complement to the International Bank
for Reconstruction and Development
in order to provide finance to
developing nations for a variety of
projects in circumstances where loans
from the IBRD were not obtainable.

INTERNATIONAL FINANCE
CORPORATION A U n i t e d N a t i o n s
organization which was established in
1956, as a complement to the
International Bank of Reconstruction
and Development, in order to provide
f i n a n c e f o r p r i va t e i n d u s t r i a l
undertakings, especially in the less
developed countries. The corporation
does not provide total finance for a
project.

INTERNATIONAL MONETARY
FUND An organization established as
a r e s u l t o f t h e B r e t t o n Wo o d s
Agreement, 1945, creating a fund of
gold and domestic currencies
subscribed by member countries. The
general objectives of the Fund are to
promote international monetary co-
operation and thereby to encourage
international trade. Member countries
may purchase currencies from the fund
in order to finance a short-term
balance of payments deficit. However,
if a country borrows deeply from the
IMF, the loan may be conditional on
the country following the Fund’s
advice.

INTERNET BROOKING Internet
based trading on conventional stock
exchanges uses the Net as a medium
for communicating client orders to the
exchanges through broker web sites.
These sites may serve a variety of
functions from allowing full trading
through the website to features like on-
line stock quotes, information and
analysis, etc. The SEBI has allowed the
Internet to be used as an Order
R o u t i n g S y s t e m ( O R S ) t h ro u g h
registered stockbrokers on behalf of
clients for execution of trades. ORS
would be compatible with existing
screen-based electronic trading
capabilities. In an ORS, a broker
o f f e r i n g I n t e r n e t t ra d i n g f a c i l i t y
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 provides an electronic template/space
for the customer to enter the name of
the security, whether it is to be bought
or sold, and the quantity and price
specifications. Once the broker's
system receives this information, it is
checked electronically against the
customer's account and is routed to
the appropriate exchange for
execution b y the broker. After the
order is executed, the customer
receives a message confirming the
order. The customer's portfolio and
ledger account may also be updated
on-line to reflect the transaction.

INVENTORY 1. A detailed listing and
evaluation of a business’s stock-raw
materials, work in process and finished
goods. 2. The value of total stocks.
3. A listing of all plant, equipment,
furniture, etc.

INVENTORY TURNOVER The rate of
consumption of a business’s stocks of
materials, usually expressed as a ratio
of the costs of goods consumed or sold
in a period and the average stock
balance held.

INVESTMENT COMPANY SHARES
(OPEN-ENDED) The only open-ended
mutual funds in our country are those
run by the Unit Trust of India, and the
State Bank of India, which accept new
depositors at any time of the year,
except when the trust’s operations
are closed for accounting purposes.
The investments of the funds are well-
diversified, to ensure low risk and
good, but not spectacular, returns.
One can become a member of the
funds by buying into them, as one can
cease to be a member by selling out
of them. Being open-ended, the funds’
shares, called certificates, are not
traded in the stock exchange.

INVESTOR PROTECTION A series of
measures designed to protect investors
in securities from fraudulent company
promotion and management. The
measures include : company legislation
which requires the disclosure of
accounting reports and related
information; legislation designed to
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eliminate misleading statements when
promoting a company; and the Stock
Exchange requirements and
examination of applicant companies
before a quotation of a company ’s
shares on the Stock Exchange is
permitted. In India, the Securities and
Exchange Board of India (SEBI) plays
the role of this watchdog.

INVOICE A statement showing
particulars of goods sold, including
quantity, price, quality, and packing
details.

IRREDEEMABLE DEBENTURES
Perpetual debentures which cannot be
redeemed ever. The issue of these has
been discontinued.

ISSUED CAPITAL T h e a m o u n t o f
authorized capital issued by a
company. A part of the authorized
capital may be withheld for subsequent
issue, at par or at a premium.

JINGLE A short, easily remembered
tune which is used to adv ertise a
product and becomes identified with
the product in the mind of the public.
Recent famous example : “Dhoondte
rah jaoge” of HLL in India

JOB ANALYSIS The detailed analysis
of a job, breaking it down into its
component parts and assessing
requirements. Job analysis is the first
stage in any programme of job
evaluation and salary administration.

JOINT ACCOUNT A bank account
owned jointly by two or more people.
It is a common arrangement for
husbands and wives.

JOINT VENTURE A partnership
formed for a particular purpose, as a
specific adventure, speculation, etc.
Popularly called a JV.

JUNK BONDS High-interest bonds
raised as debentures on the security
of a company which is the subject of a
takeover bid. In the United States,
borrowing instruments of companies,
such as fixed deposits and debentures,
are called bonds. Investors in these are
naturally interested in the safety of
their investment, the timely payment
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 of interest, and their prompt
redemption when the loan period is
over. Debt instruments which do not
fulfil these requirements, and merit a
C or D rating of CRISIL can be called
junk bonds.

KENNEDY ROUND A series of tariff
negotiations, conducted under GATT
auspices, which replaced negotiations
relating to individual tariffs by
negotiations relating to general
reductions on most commodity tariffs.
They lasted from 1964 to 1967.

KERB TRADING Unofficial trading
after the normal trading hours of the
stock exchange.

LABOUR-INTENSIVE Denoting any
operating process, firm or industry
which has a heavy proportion of labour
input relative to capital input.

LABOUR, MOBILITY OF The
movement of workers between areas
seeking similar employment (lateral
mobility) or seeking different
employment (vertical mobility).

LABOUR PRODUCTIVITY An
expression of the input-output
relationship achieved by an individual
worker, group or labour force. The
expression may be quantified in terms
of units of output per hour of input,
value added to products per pound of
labour, etc.

LAISSEZ-FAIRE (French, “free to
do”) An economic doctrine, developed
in the 18th century, which advocates
no government interference in the
performance of economic activities,
whether pursued by individuals or by
businesses. It contends that any
government interference will actually
hinder the best use of resources.

LAW OF SUPPLY AND DEMAND The
general rule that the amount of a
product which is available is regulated
by the needs of potential customers.

LAY OFF The temporary dismissal of
a worker because there is no work to
be done.
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LEGACY Money or personal property
(but not land) left by one person to
another in a will.

LEGAL TENDER The forms of money -
note or coin - which by law must be
accepted in payment of a debt or in
exchange for a good or service.
Money must be offered in appropriate
lots, i.e. notes to any value, but coins
only up to a specified maximum value
according to their denomination. For
example, cupro-nickel coins worth up
to ten pence are legal tender in lots
up to $ 5 only.

LETTER OF INTENT A letter which
states what a company intends to do
if a certain event takes place.

LIMITED A word incorporated into the
name of a limited company on all
d o c u m e n t s , e t c ., s i g n i f y i n g a
restriction of the liability of the
members of the company for that
company’s debts. Such liability may be
limited by guarantee as in the case of
professional bodies, or by shares, in
which case the members’ liability is
limited to the nominal value of the
shares. Holders of fully paid shares
have no further liability.

LIMITED COMPANY Although a
limited company has quite a few
characteristics, the ‘limited’ refers to
the liability of the members, which is
confined to the face value of the
shares they have bought. A limited
company is a legal entity, i.e., it can
enter into contracts as a person,
independent of its members. Most
large companies, public or private, are
limited by shares, the number of which
is stated in its memorandum of
association. A public limited company
needs a certificate of incorporation
from the Registrar of Companies.

LIQUID ASSETS Assets that can be
converted into cash comparatively
quickly. They are widely regarded as
comprising shares, short-term bills of
exchange, bank deposits and cash
itself.
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LIQUIDATION 1. The conversion of
assets, e.g. stock, debtors, into cash.
2. The settlement of a debt. 3. The
bankruptcy proceedings of a limited
company.

LIQUIDATION PAYMENTS In the
event of the liquidation of a company
as a result of bankruptcy, creditors
are paid in the following order of
priority; 1. Court costs and lawyers’
expenses; 2. Outstanding wages of
workers; 3. Outstanding taxes; 4.
Secured loans and
d e b e n t u r e s ; 5 . C r e d i t o r s , i . e .,
suppliers to the company; 6.
Preference shareholders; and finally,
7. Equity shareholder, if anything is
left at all, which is rare. However, the
number of listed companies going into
liquidation is few.

LIQUIDITY A state of having
sufficient cash resources and assets
easily convertible into cash in order
to meet debts as they fall due.
Liquidity, in general, r efers to the
ease with which any asset can be
encashed. Thus, Reliance shares are
highly liquid whereas shares of small
companies are relatively less liquid.

LIQUIDITY ADJUSTMENT
FACILITY It is a mechanism by which
the Reserve Bank of India (RBI) draws
out funds from the money market at a
time of surplus and infuses liquidity
whenever there is a temporary
shortage. The RBI achieves this by
getting banks and primary dealers to
bid for funds if there is a shortage
and by borrowing from them if there
is a surplus.

LIQUIDITY TRAP A situation in a
period of economic depression when
the real rate of interest is so low that
investors prefer to hold cash instead
of bonds or other interest-bearing
securities. In such a state of affairs
monetary policies are powerless. The
liquidity trap was first deeply analysed
by John Maynard Keynes.
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LISTED COMPANY A company whose
shares can be bought and sold on the
Stock Exchange, which publishes the
share price.

LISTED SHARES Shares which are
registered by a stock exchange for
trading on its floor. Listed shares have
the following advantages : 1.They are
traded in the stock exchange, which is
a fair market place. 2. They are liquid.
3. The price is determined fairly 4.
There is continuous reporting of their
secured prices. 5. Full information is available
on the companies. 6. There strict
regulations for the protection of those
who buy and sell shares on the stock
exchange.

LOCK-OUT The withdrawal of working
facilities by an employer through the
prevention of access to work
premises. It is equivalent to a strike
by employees.

LOGO A symbol or series of letters
used by a company to identify itself,
usually an adaptation of the company
name.

LUMP-SUM An amount of money paid
at one time, not in several
installments.

M 1 A m e a s u r e o f m o n e y s u p p l y,
including all coins and notes in
circulation, and personal current
accounts.

M 2 A m e a s u r e o f m o n e y s u p p l y,
including items covered by M1, plus
personal deposit accounts.

M 3 A m e a s u r e o f m o n e y s u p p l y,
including items covered by M2, plus
government deposits and deposits in
currencies other than the national
currency. It is the growth in M3 that
is widely used as a parameter of
direction of economy. High M3 growth
rate indicates possible high inflation.

MACROECONOMICS The study of
aggregate economic behaviour. Topics
covered by it include the overall level
of investment, the amount of
consumption, taxation, etc.
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MACROECONOMIC FORECASTS
Forecasts on the nation’s economy
and the state of industries based on
such data as price levels, employment,
rate of inflation and industrial
production.

MAILING LIST A list of the addresses
of customers or potential customers,
which is used for sending publicity
material or circular letters.

MAIL ORDER A method of selling
which secures orders for goods
through the circulation of catalogues
to agents and potential customers.
Ordering procedures and delivery of
goods are conducted by post.

MANAGEMENT BUYOUT The takeover
of a company by a group of senior
employees (usually managers and
directors), supported by loans from
banks.

MAN-HOUR The amount of work done
by one employee in one hour.

MAN-MACHINE CHART A type of
multiple activity chart in which the
operations performed by the machine
and its operator are shown against a
common time scale.

MANPOWER FORECASTING The
calculation of the number of workers
required in the future to satisfy
anticipated needs, and the comparison
with the number who will actually be
available.

MARGINAL PRODUCT The increase
in output which results from adding
one more unit of production, whether
labour or capital.

MARGINAL REVENUE The revenue
from selling a single unit above the
number which have already been sold.

MARGIN OF ERROR 1. The number
of mistakes which are acceptable in a
document or a product. 2. The amount
by which a forecast or budget may
differ from the actual result.

MARGIN OF SAFETY The difference
between the planned sales level and
the break-even level.
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MARKET LEADER The product which
has the largest share of a market or
the company which makes it.

MARKET MAKER A person or
securities house which buys or sells
shares for clients on the Stock
Exchange.

MARKET RESEARCH The
determination of the prospective
demand for a product through the
testing of consumer reactions to
products, questions about
preferences, and the application of
statistical techniques in order to
evaluate responses.

MASS PRODUCTION The
manufacture of standardized or uniform
articles in large quantities.
Characteristically this type of
production involves high capital
investment and low unit costs of output.

MATERIALS CONTROL The process
of ensuring the availability of the right
materials at the required time and
place in order to meet manufacturing
requirements, while maintaining
minimum investments in such
materials. It also includes measures
to prevent misappropriation and waste
of materials.

MEGA ISSUE An issue of shares or
debentures running into several
hundred crores of rupees;
unfortunately some companies,
without sufficient justification have
started making such issues to proclaim
their giant status. The IDBI issue of
more than Rs 2000 crores in July 1995
was the biggest Indian public issue.

MEMORANDUM OF ASSOCIATION
For public limited companies (whose
shares constitute the substance of the
stock market) at least seven persons
must subscribe to a memorandum of
association for registration as a company.

MERCHANDISE Goods which are
offered for sale.

MERCHANT BANK 1. A financial
institution which performs a wide
range of activities; financing
IC : PTpnsgk01
 international trade; accepting bills of
exchange; advising companies on
takeovers, amalgamations, flotations
and share issues; advising about
pension funds, charities and
companies’ investment policies; and
acting as trustee for unit trusts. 2.
Although historically merchant banks,
as distinguished from commercial
banks which deal with the general
public, have been concerned with
import and export trade, they have
recently expanded their activities by
raising finance, at home and abroad,
for industry, including high-risk hire-
purchase financing. These banks also
float new debentures and shares on
behalf of companies, or underwrite
them. They are increasingly involved
in takeover bids and mergers, often
tendering specialized advice to the
bidders.

MERGER 1. The amalgamation of two
or more businesses into a single entity.
It is formally achieved: (a) by the
dissolution of both companies and the
creation of a new company with the
combined assets of the previous
companies; (b) by the formation of a
holding company - the existing
companies continue but with a
controlling portion of the share capital
being taken up by the holding
company. Example : Merger of TOMCO
w i t h H L L . 2 . A n a m i c a b l e g e tt i n g
together of two or more companies to
form one unit, for increased overall
efficiency. The shareholders of merged
c o m p a n i e s a r e o ff e r e d e q u i v a l e n t
holdings in the new company, and old
e m p l oy e e s a re g e n e ral l y re t a i n e d .
TAKEOVERS, which are quite another
matter, generate a lot more heat and
ill will. A horizontal merger combines
direct competitors in the same products
and markets, while a vertical merger
combines supplier and company of
customer and company.

MICROECONOMIC ANALYSIS Study
of individual economic units, such as
companies, industries, and
households.
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MIDDLE MANAGEMENT The
departmental managers who carry out
the policy set by directors and
organize the work of sections of the
workforce.

MIXED ECONOMY An economy in
which activity is organized by a
combination of individual, business
and state enterprises. Most countries
have mixed economies, although the
ratio of public to private industry
d i f f e r s g r e a t l y. In d i a i s a c l a s s i c
example of a mixed economy which is
now slowly converting to a capitalist
form.

MONETARISM The economic
hypothesis that the money supply is
the main determinant of the rate of
inflation. The best-known proponents
of monetarism are the Chicago School
of Economists led by Professor Milton
Friedman.

MONETARY POLICY Monetary and
credit policy is the policy statement,
traditionally biannual, through which
the Reserve Bank of India targets a
key set of indicators to ensure price
s t a b i l i t y i n t h e e c o n o m y. T h e s e
f a c t o r s i n c l u d e : a ) M o n e y s u p p l y,
commonly referred to as M3 - which
indicates the stock of legal currency
in the economy b) Interest rates c)
Inflation Besides, the policy also
provides a platform for the RBI to
announce norms for financial bodies
governed by it such as banks, financial
institutions, non-banking finance
companies, residual non-banking
companies, Nidhis, primary dealers in
the money markets, authorized
dealers in the foreign exchange
markets.

MONEY MARKET Financial institutions
c o l l e c t i v e l y, i n c l u d i n g d i s c o u n t
houses, commercial banks and
accepting houses, which transact
business relating to short-term
finance, e.g. bills of exchange,
treasury bills, etc. The market also
incorporates the foreign exchange
market with transactions in
international currencies.
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MONEY SUPPLY The total quantity of
money in circulation at a given
moment. There are several definitions
of it, of which the two most commonly
found are M1 and M3.

MONOPOLY A n i n d u s t r y i n w h i c h
there is only one producer and many
consumers. To maximize its profits, the
monopoly will restrict its output so that
marginal revenue equals average cost.
T h e l i c e n s i n g s y s t e m fo l l o w e d b y
Indian government after independence
led to the formation of monopolies in
n e a r l y a l l s e c t o r s o f t h e e c o n o my
hurting Indian competitiveness.

MORTGAGE An interest in property
which is transferred by the borrower
of money (mortgagor) to the lender
(mortgagee) as security for the loan.
Failure to repay the loan may result in
the mortgagee suing for repayment or
foreclosing, subject to the mortgagor’s
equity of redemption.

MOST-FAVOURED NATION CLAUSE
(MFN) A clause in a commercial treaty
concluded by two countries whereby the
signatories agree to extend to each
other any benefits relating to customs
duties which either signatory ma y
negotiate with a third country. The
fo r m a t i o n o f t h e W TO a f t e r G ATT
requires that al l signatory nations
extend the MFN status to each other.

MULTILATERAL TRADE Trade which
is conducted between numerous
countries with or without tariff barriers.

MULTINATIONAL COMPANY (MNC)
Also called a trans-national corporation
(TNC), it is a company with controlling
i n t e re s t s i n n u m e r o u s f o r e i g n
c o u n t r i e s , o p e ra t i n g i n s i m il a r o r
d i f f e re n t a c t i v i t i e s t o t h e p a r e n t
company. Some of the giant MNCs are
Mitsubishi, Toyota, Honda, GM, IBM,
Siemens, GE, etc. It is alleged that
MNCs are in volv ed in poli tical and
economic exploitation of developing
n a t i o n s . H o w e v e r, m o s t o f t h e s e
charges remain unsubstantiated.
India, with the reforms policies since
1991, has witnessed a boom in the
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number of MNCs operating from its
t e r r i t o r y. T h i s h a s l e d t o s t r o n g
protests from several pro-poor and
nationalist groups. These protests and
apprehensions, howsoever patriotic
they might seem, are misplaced. It is
an indisputable fact that when MNCs
enter a sector, they put tremendous
pressure on local manufacturers to
improve quality.

MURPHY’S LAW The general rule that
in commercial life if something can go
wrong it will go wrong.

MUTUAL FUNDS 1. These are
operated by investment companies
and banks, which raise money from
shareholders and invest in a large
variety of securities like shares,
debentures, bonds and money market
instruments set up for a limited period,
or with no winding-up date. The
investors thus have the advantage of
owning a truly diversified portfolio
which offers attractive annual
dividends and a reasonable price
appreciation, considering that the risk
factor is minimal. Mutual funds may be
aggressive in their investment or
conservative. The investor has to
consider his investment objectives and
choose amongst them. 2. Mutual funds
are collective savings and investment
vehicles where savings of small (or
sometimes big) investors are pooled
together to invest for their mutual
benefit and returns distributed
proportionately. Pooling of monies
ensures that small investors get the
benefit of advice and expertise that is
normally available only to very large
investors. Currently, mutual funds in
India are allowed to invest either in
equity or debt or a combination of
these two. While moves are on to float
funds, which invest in gold, or real
estate etc., as of date, mutual funds
are not permitted to currently hold
physical assets. Thus, a fund can
invest in shares or debt instruments of
a gold mining company, but cannot buy
gold itself.
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NATIONAL DEBT The total debt owed
by the government to the general
public, comprising both long and short-
term loans.

NATIONAL INCOME The sum of the
value of goods and services available
to an economy through its economic
activity in a given time period. The
income may be evaluated: (a) by adding
the incomes generated by economic
activity, e.g. wages, salaries, dividends,
profits and net income from abroad; (b)
by adding the prices of goods and
services, less indirect taxes plus
subsidies, together with government
expenditure. Both methods produce
similar totals and the movement in the
total is indicative of economic progress
over time, once allowance is made for
price inflation, population growth, etc.
Growth of national income need not be
synonymous with improvement in living
standards.

NATIONALIZATION The acquisition
by the state of the ownership and
operation of a property, industry, or
c o m p a n y. Fo r e x a m p l e : t h e
nationalisation of Indian banks b y
Indira Gandhi.

NECESSITIES Goods and services
vital to an individual’s existence and/
or appropriate to the particular
standard of living of the individual.

NEGATIVE CASH FLOW A situation
where a company is spending more
money than it receives.

NEGOTIABLE INSTRUMENT A
document of title which can be
t r a n s f e r r e d b y i t s d e l i v e r y, t h e
transferee acquiring good title
(providing he has given valuable
consideration for it), regardless of the
quality of the title of the transferer. The
most important examples are cheques,
promissory notes and bills of exchange,
the latter requiring endorsement in
addition to del ivery. Normal ly, the
assignment of a contractual right is
s u b j e c t t o e q u it i e s i n s o f a r a s t h e
assignee will not have any better title
than the transferrer.
IC : PTpnsgk01

NEGOTIATE 1. To discuss a problem
formally with someone, so as to reach
an agreement. 2. To transfer value
by delivery or by endorsement and
delivery.

NERVOUS MARKET S t o c k m a r ke t
which is reacting sharply to economic
or political events, such as an annual
budget unfavourable to industrial
growth, drought, imposition or
removal of price controls, change of
government, etc.

NET ASSETS Generally, fixed assets
plus net current assets. It is a vague
a n d l o o s e l y u s e d t e r m , g e n e ra l l y
equating with capital employed.

NETWORTH The value of a business
attributable to the ordinary
shareholders. This value comprises the
total assets of the business less
liabilities to all those other than
ordinary shareholders.

NEW YORK STOCK EXCHANGE At 11
Wall street, New York, Established
1792, the oldest and largest, and the
best-known among the stock
exchanges of the world. Around 2300
shares are listed there, and
approximately 60% of the U.S.stock
trading is done at the NYSE.

NOMINAL PARTNER A person who,
though having no real interest in a
business, allows his name to be used
by and associated with the business,
generally for the purpose of
maintaining the reputation or goodwill
of the business.

NON-DURABLES Goods which are
used up after having been bought, such
as food and drink, petrol, etc.

NON PERFORMING ASSETS NPAs
are those loans given by a bank or
financial institution where the borrower
defaults or delays interest or principal
payments. Banks are not allowed to
book any income from NPAs. Also, they
have to provision for the NPA, or keep
money aside in case they can't collect
f ro m t h e b o r r o w e r, w h i c h i m p a c t s
profitabili ty adversely. According to
RBI rules, any loan repayments which
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 is delayed beyond 180 days has to be
identified as an NPA.

NON-VOTING SHARE A c o m p a n y
share (especially a preference share)
which does not carry any voting rights
at company meetings or on company
resolutions.

NORMAL DISTRIBUTION The most
commonly encountered frequency
distribution which, when plotted, shows
a bell curve or normal curve. Frequency
is greatest in the middle range of values
observed, measurements lying at a
greater distance from the average
o cc u r r i n g l e s s f re q u e n t l y. M o s t
statistical techniques assume that the
population being studied conforms to
this distribution.

OBSOLESCENCE The diminution in
value of an asset for reasons other
than wear and tear. Such reasons may
include the invention or development
of superior techniques or equipment
or a change in demand.

ODD LOT In the stock market shares
are generally bought and sold in
MARKET LOTS, which are easy to trade.
Any number of shares less than the
market an odd lot. Also, if the market
lot of a share is 100, a single share
certificate of a different denomination
- whether smaller or bigger - is an odd
lot. Odd lots, typically, arise f rom
BONUS or RIGHTS issues Apart from
the difficulty in buying or selling odd
lots, there is another disadvantage:
you may have to sell an odd lot at a
price 10%-15% lower than the price
quoted for the market lot.

OFFICIAL EXCHANGE RATE An
exchange rate which is imposed and
maintained by a government.

OFFICIAL LIST The daily list of
quotations of stocks and shares showing
prices at which dealings have been
made. It is published under the authority
of the council of the Stock Exchange.

OFF-THE-JOB TRAINING Training
given to workers away from their place
of work, such as a college or other
training establishment.
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OLIGOPOLY A market situation in
which a few producers/suppliers are
able to influence the market price. The
producers are mutually dependent on
one another and any action by one
will lead to a reaction and counter-
reaction by the others.

OMBUDSMAN An official who
investigates complaints by members of
the public against government
departments and other official bodies.

ON-THE-JOB TRAINING Tra i n i n g
given to workers at their place of work.

OPEN CHEQUE An uncrossed cheque
which may be presented for payment
over the counter at the banker on
whom the cheque was drawn.

OPEN-ENDED INVESTMENT
COMPANY A publicly held investment
company with a diversified portfolio
of investments, which can sell more
and more shares and become larger.
Its shares are issued at prices fixed
from time to time and can be redeemed
at prices announced by it. The Unit Trust
of India is an open-ended investment
company.

OPEN-PLAN A large office with no
internal walls, divided into working
areas by low partitions.

OPEN SHOP A business or firm which
provides employment for workers
whether they belong to a trade union
or not.

OPERATING COSTS The costs
involved in the ordinary day-to-day
organization of a company.

OPERATING PROFIT OR LOSS The
profit or loss made by a company in
its normal trading, not including
property or asset sales, etc.

OPERATIONAL RESEARCH The
application of scientific principles and
methods to the problems of business
strategy by the systematic study of
all available resources. With the
increasing complexity of business
problems and the need to quantify
diverse scientific approaches, applied
mathematics has become an integral
part of operational research.
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OPPORTUNITY COST The cost incurred
in following an alternative course of
action : the extent of this cost
represents the real sacrifice incurred in
pursuing a particular course of action.
For instance, the cost of building a
factory is the opportunity cost of other
manufacturing plant which might have
been purchased as an alternative.

OPTION 1. An arrangement whereby,
in return for the payment of a fee, a
person acquires a right to buy or a
right to sell goods, shares, etc. at an
agreed price, at or within a specified
future time. 2. The right to buy or sell
a share or commodities at a certain
price on a specified future date. 3.
Options are contracts which go a step
further than futures contracts in the
sense that they provide the buyer of
the option the right, without the
obligation, to buy or sell a specified
asset at an agreed price on or upto a
p a r t ic ula r d a t e. F o r a c q u i r i n g t h i s
right, the buyer has to pay a premium
to the seller. The seller on the other
hand, has the obligation to buy or sell
that specified asset at that agreed
price. This makes options more of an
insurance product where the
downside risk is covered for the
payment of a certain fixed premium.

ORDINARY SHARE Equity share with
full voting rights and entitlement to
dividends, rights, and bonus issues.

ORGANIZATION CHART A pictorial
representation of the responsibilities
and authority relationships within an
organization.

ORGANIZATION FOR ECONOMIC
COOPERATION AND DEVELOPMENT
A body founded in 1961 which has as
its aims the encouragement of
economic s t a b i l i t y, economic
development in the Third World and
the expansion of world multilateral
trade. Members are mostly European
and American nations.

ORGANIZATION OF PETROLEUM -
EXPORTING COUNTRIES (OPEC) An
international cartel of oil-producing
nations whose members include
A l g e r i a , E c u a d o r, I n d o n e s i a , Ira n ,
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Iraq, Kuwait, Libya, Nigeria, Saudi
A r a b i a , Ve n e z u e l a , U A E , Q a t a r,
Gabon.

OTHER INCOME Apart from income
from a company’s normal activities,
profits may accrue on other heads, such
as interest income, investment income,
profit from sale of assets other than
INVENTORY, gain on foreign exchange
transactions, rent income, etc.

OUTLET 1. A market for goods or
services. 2. A facility for marketing of
goods or services, as a store,
merchant or agent.

OUT-OF-POCKET EXPENSES An
amount of money which is paid to an
employee to reimburse him for money
he spent on behalf of the company.

OVER THE COUNTER Market for
shares (usually unlisted) outside the
control of the official stock exchange.

OVERCAPACITY The state of having
greater productive facilities (in terms
of men, space, machinery, etc.) than
are required by the demanded output.

OVERDRAFT An amount due to his
bank by a customer, generally limited
to a specific amount in excess of
moneys deposited to the customer’s
account. Interest is calculated on the
fluctuating daily levels.

OVERHEAD An indirect cost, such as
administration expenses, selling
expenses, distribution expense, etc.

OVERHEATED MARKET A stock
market situation in which too much
money is chasing too few shares,
leading to sharp price rises, and
frequent GAPS. This is the fast phase
of a bull cycle and it usually portends
an imminent onset of a bear cycle.

OVERMANNING The situation where
a company has more workers than is
necessary to carry out the normal
volume of work.

OVERNIGHT LOAN A loan repayable
on the morning of the next business
day. It generally refers to a bank loan
granted to a bill broker, enabling bills
of exchange to be taken up.
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OVERSUBSCRIBED Denoting a share
issue in which the number of shares
applied for exceeds the number to be
issued. Applications may be refused
or scaled down pro data.

OVERSUBSCRIBED ISSUE When
there are more shares applied for than
are to be issued. In such cases a
minimum number of shares, say, 100
shares, is allotted to lucky applicants
whose names may come up in the
drawing of lots, where the odds
depend upon the number of shares
a p p l i e d f o r, i . e ., t h e l a r g e r t h e
application, the better the odds. In a
bull market, good public issues tend
to get oversubscribed, the record
b e i n g h e l d b y Ta t a T i m ke n ,
oversubscribed 4071.43 times. Only
1 in 200 applications for 100 shares
succeeded. It is interesting to note
that while in India it is a matter of
pride to have an over-subscribed
issue, in the western nations it is
considered to be a lost opportunity
and a failure to gauge the actual
market response.

OVERTIME 1. Time during which work
is done outside regular working hours;
extra time. Such time is usually paid
for at premium rates. 2. The payment
made for such work.

OVERVALUED SHARES Shares which
have caught the investors’ fancy, and
who therefore are willing to pay a
price for them which is not justified
by their EPS or P/E ratio. Justifiably
high-priced shares can become
overvalued as a result of a company’s
fall in profitability, the emergence of
competition and the loss of market
share, labour unrest etc.

PACKAGE DEAL 1. A transaction in
which several different goods or
services are bought for an inclusive
price. 2. The outcome of negotiations
in which all parties have made
concessions on various issues decided
together.

PAID UP CAPITAL Capital acquired
by selling shares to investors, as
distinguished from capital accumulated
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from earnings or from secured or
unsecured loans.

PANIC BUYING A rush to buy
something at any price before stocks
run out.

PANIC SELLING A condition of the
stock market in which not only
inexperienced investors, but also
stur dy bulls, tak e fright and start
selling. It may be caused by sudden
unfavourable news or rumour, or a
RANDOM WALK by shares downwards,
or simply, in bear market conditions,
the absence of financial institutions
from the market.

PAPER CURRENCY Bank notes which
form part of a nation’s legal tender. The
notes have no intrinsic value, their
value as a medium of ex change
depending on their acceptability to the
public. Indian paper currency notes are
printed at Nasik & Dewas.

PAPER LOSS A loss made when an
asset falls in value but has not been
realized.

PAR VALUE Par value is the notional
face v alue of the shares, which a
company issues to investors. A
company can, however, issue shares
above or below par value also. Par
value is usually fixed at Rs. 10 or Rs.
100 but each company can decide its
own par value.

PARENT COMPANY A company which
owns or controls subsidiary companies
by means of owning a majority of
voting shares. A parent company
usually has a business of its own.

PARETO PRINCIPLE The principle
which states that a relatively small
number of individuals have an influence
which is greater than their
proportionate number. This may be
seen in a sales analysis, where a small
number of customers may account for
a large proportion of total sales. This
law is in general true for any system.

PARETO’S LAW The number of people
(N) receiving a specified income (Y)
declines at a constant rate (b) as the
specified income is increased in
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 increments of one per cent. This law
may be expressed by the formula :
N = aY – b, where “a” is a constant that
differs for different societies. The
higher the value of “b”, the more rapidly
will the number of recipients decrease
as the income level rises, and hence the
greater the degree of equality of
incomes. Pareto’s law applies
particularly to the highest 10% of
incomes.

P A R I P A S S U 1 . Ra n k i n g e q u a l l y.
After CONVERSION from debentures,
the new shares created carry the
same rights as the other shares of the
company to receive dividends, rights
and bonus shares, and to participate
in the company’s profit and loss as
equity shareholders. 2. (Latin, “with
equal step”) It describes the equal
relationship which may exist between
persons, articles, etc. of a similar
nature. The most common example is
that the holders of the same type of
share have an equal right to dividend
payments or to reimbursement if the
company is wound up.

PARKINSON’S LAW “Work expands
to fill the time available for its
c o m p l e t i o n .” A semi-serious
proposition made by Professor C.
Northcote Parkinson. A derivative of
this is that expenditure rises to equal
income !

PARTNER A person undertaking some
task or directing some business
enterprise in combination with one or
more others.

PARTNERSHIP A form of business
organization which is conducted by
two or more partners. The relationship
between the partners in terms of
respective profit shares,
responsibilities, etc. is normally
expressed in a partnership
agreement. Certain common features
of partnerships are: a Each partner
binds all other partners to any
contract entered into in the ordinary
course of business. b. Each partner is
fully liable for the firm’s debts, to the
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extent of his private assets, except
where a partner has limited liability.
c. The partnership ceases when the
existing relationship between the
partners ends through death,
bankruptcy, etc.

PARTNERSHIP, LIMITED A
partnership in which at least one
member has limited liability for the
firm’s debts, i.e. is liable only to the
extent of his capital in the firm. Such
a partner cannot participate in the
management of the business and
cannot withdraw his capital. A limited
partnership must be registered, with
details of the partnership’s name,
nature of business and terms of the
partnership.

PATENT 1 . A l e g a l p r o p e r t y r i g h t
granted by the state, giving the
creator of an invention the sole right
to make, use or dispose of his
invention for a limited number of
years, usually 16. 2. An invention or
process which has been patented.

PATENT INFRINGEMENT The action
of illegally making or selling a patented
product without the permission of the
patent holder.

PATENT RIGHTS The rights which a
patent holder holds under a registered
patent.

PAYMENT-IN-LIEU Money paid by an
employer to an employee whose
employment has been terminated before
the expiration of the period of notice
contained in the employee’s contract of
employment. The payment is instead of
all or part of the notice period.

PAYMENT GATEWAY A Payment
gateway is a third party network that
acquires transactions from an e-
commerce portal and processes them
through the banking or credit card
system. It links the banking network
with the Internet. It is a link into the
banking network and is inaccessible to
Internet users. It uses enhanced
security features such as digital
envelopes and content keys (public
and private key encryption systems).
(185) of (202)

PAYROLL 1. A list of employees to be
paid, giving wage or salary payable,
detailing deductions and showing the
net amounts payable. 2. The aggregate
expenditure on wages and/or salaries
incurred by a business for a given
period.

PEAK PERIOD A period of high
activity, such as the time of highest
consumption of electricity, the highest
volume of sales, the highest number
of passengers using a transport
system, etc.

PENSION FUND A fund maintained by
a c o m p a ny, t r a d e u n i o n o r o t h e r
organization to provide pensions for
employees or members upon
retirement. Contributions from the
organization and the employee/
member are invested, with interest
accumulated, into the fund. The fund
may be self-administered by the
organization as a trust or managed by
outside experts, such as a life
assurance company. Pension funds are
now one of the main purchasers of
stocks and shares. With other
institutional investors, they greatly
overshadow in importance the private
investor.

PER CAPITA INCOME The income
earned per individual, calculated by
taking the total income of a group and
dividing it by the number of individuals
in the group.

PERCENTILE One of a series of 99
figures below which a certain
percentage of a total falls.

PERFECT COMPETITION A market in
which no single individual or unit can
influence the market price of the
goods. For this to occur there must
be a very large number of producers
and consumers, a totally
homogeneous product and no barriers
to entry. Few industries can satisfy
even one of these conditions, but one
example could be the international
cultivation and marketing of grain.
Perfect competition is the best
situation any consumer can ever hope
f o r.
(186) of (202)

PERISHABLE ITEMS Items of food
which will become rotten if not eaten
quickly.

PERKS Extra items given by a
company to an employee in addition
to a salary. Such items can include a
company car, subscription to a sports
club, private health insurance, etc.

PERPETUAL INVENTORY A system
of ascertaining the current stock
position of a business by the
continuous recording of stock levels.
Receipts and issues of stock items are
recorded and the balance adjusted
accordingly, so that at any one time
the stock position is known.

PERSONNEL MANAGEMENT The field
of management primarily concerned
with people at work and their
relationships within the enterprise.
Areas of concern include recruitment
and selection, pay and conditions, and
education and training.

PETER PRINCIPLE The principle,
noted in many cases, that employees
and directors are promoted until they
occupy positions for which they are
incompetent.

PETRODOLLARS Funds belonging to
members of OPEC in excess of their
immediate needs and acquired as a
result of the rapid increase in the price
of oil in the 1970s. Most of these
foreign currency surpluses are in
dollars, hence their name. Since the
OPEC states had no immediate need
for them, the petrodollars were
largely reinvested in the financial
centres of the West, and this helped
to offset partially the inflationary
effects of the rise in oil prices.

PETTY CASH Cash (notes and coin)
held by a business, office or
department in order to reimburse small
expenses incurred, e.g. postage
stamps, travelling expenses.

PIVOTAL SHARES Although all
shares are exposed to SYSTEMATIC
RISKS, the effects of such risks on
pivotal shares greatly influence the
stock market. Shares of some blue chip
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 companies act as a pivot on which the
market is balanced; if they turn
bearish the market follow; if they turn
bullish, the market looks up. Shares
o f T I S C O, T E L C O , A C C , C e n t u r y,
Hind. Lever, etc. belong to this class.
If, however, any of these is affected
by unsystematic risk, such as a labour
strike or price control or decontrol, the
share’s rise or fall is not going to
affect the market.

PLANNED ECONOMY An economy in
which the government sets production
output targets, prices, wages, etc.
rather than allowing them to be
determined through the operation of
the price mechanism. The best
examples of planned economies were
those of Eastern Europe and the USSR.
India also had a planned economy to a
great extent. The biggest disadvantage
of a planned economy is the lack of
free trade.

PLANNED MAINTENANCE The
systematic checking and repairing of
plant or vehicles in order to prevent
breakdown, as opposed to be carrying
out of repairs after faults have
disrupted production, etc.

PORTFOLIO A list of investments in
stocks, shares, etc. that a person or
institution has made.

POSITIVE CASH FLOW A situation
where more money comes into a
company than is paid out.

POWER OF ATTORNEY A legal
document which gives a person the
right to act on behalf of someone in
legal matters.

PRE-EMPTIVE STRIKE Swift action
to prevent something happening, such
as the rapid buying of shares to
prevent a possible takeover.

PREFERENCE SHARES So called
because these have preference over
equity shares in the matter of
distribution of post-tax profit, and
have a prior claim on the assets of
the company in the event of
liquidation. In terms of risk, these are
less risky than equities, but more risky
IC : PTpnsgk01
than secured debentures which
precede them in the distribution of the
company’s funds, and in the event of
liquidation, which are paid off before
preference shares. Preference shares
are entitled to a fixed dividend, and
cumulative preference shares retain
their retrospective claim on dividend
when the company is not in a position
to declare any dividend. Sometimes
these shares are convertible into
equity shares after a stated number
of years, thus enjoying assured
earnings when the company is getting
established, and high earnings when it
has established it s e l f. When
preference shares are redeemable, the
company pays off the shareholder on
a certain date, or issues equity shares
of the value, but when they are
irredeemable, the shareholder gets the
fixed dividend in perpetuity or as long
as the company lasts.

PREMIUM 1. The periodic payment
for an insurance policy. 2. A sum in
excess of nominal value paid in order
to secure a share, asset, etc. 3. A
lump sum payable on the acquisition
of a lease.
. The difference between
the spot price paid for a currency or
commodity and the price for forward
settlement.

PREMIUM ISSUE The issue of shares
at a price above the face value of a
share. The sum charged above the face
value is the premium. This premium is
supposed to be determined by the
following factors: the current book
value of the share, the EPS, and the
average market price over the last
three years. Usually issued by
successful companies whose share
values are high on the stock exchange,
although now more and more dark
horses are appearing on the premium
market.

PRICE-EARNING RATIO (P/E ratio)
An indicator of how highly a share is
valued in the market. Arrived at by
dividing the price of a share by the
earnings per share. The ratio tends to
be high in the case of highly rated
(187) of (202)
 shares. The average P/E ratio for
companies in an industry group is often
given in investment journals like the
CAPITAL MARKET. A high P/E ratio,
however, does not necessarily indicate
a bright future for the company; share
prices of closely held companies are
sometimes pegged at very high or low
levels, and since these are seldom
traded, an unrealistically high or low P/
E ratio can be sustained over time. A
low P/E where the earning per share is
high, often indicates that a share is
underpriced. The best way to use P/E
ratio is to assess its future possibilities.
Thus, a low P/E ratio would seemingly
imply that the current price is low and
t h e t i m e t a ke n t o r e c o v e r t h e
investment will be low. However, if the
share’s future prospects are dim, then
e ve n t h i s l o w P / E i s v e r y h i g h .
Conversely, shares having very high P/
E ratios and bright future prospects may
justify investment.

PRICE RING An association of
m a n u fa c t u r e r s who exchange
information relating to their product or
tender prices and, by manipulation of
quotations, distribute contracts among
member firms.

PRICE-SENSITIVE (Of a product)
liable not to sell if the price is
increased.

PRICE WAR Price-cutting by two or
more competitors in an attempt by
each to gain a larger share of the
market and/or eliminate its rival.

PRIMARY INDUSTRY An industry
dealing with the production of basic
raw materials, such as coal, metals
farm produce, etc.

PRIMARY MARKET A market for new
issue of shares, debentures, and
bonds, where investors apply to the
issuer for allotment and pay application
money to the issuer’s account.
D i s t i n g u i s h e d f ro m t h e s e c o n d a r y
market, where investors buy listed
shares on the stock exchange through
brokers.
(188) of (202)

PRIMARY PRODUCTION The
production of commodities used in the
manufacture of consumer and capital
goods. The exports of most
development nations consist of
primary products.

PRIME LENDING RATE Prime lending
rate, or PLR, is the rate at which
banks lend working capital to their
best customers. However, very few
companies can avail of bank loans at
this rate: most of them receive funds
at a mark-up to the PLR of up to 3.5
per cent. A company which is not
considered a good risk will, therefore,
get working capital loans at 15.5 per
cent even when the PLR is 12 per cent.

PRIMOGENITURE The legal principle
of inheritance by which an estate
passes to the eldest child, specifically
the eldest son.

PRIVATE ENTERPRISE All business
which are in the private sector.

PRIVATIZATION The action of
changing the status of a nationalized
industry by selling shares in it to new
private shareholders. It has remained
a key economic and political issue the
world over with public sector unions
resisting it strongly even in
industrialized nations like France,
Germany etc. Margaret Thatcher
initiated and successfully implemented
large scale privatisation in UK. Even
in India, the government has been
disinvesting its equity in several key
public sector undertakings with a view
to raising resources.

PROCESS PATENT A process patent
confers protection on the process: in
the above example, three companies
could patent three different processes
for ciprofloxacin. So if process patents
are recognised and not product
patents, you can make ciprofloxacin
without contravening any law, as long
as you use a process which is different
from those already patented.

PRODUCT PATENT A product patent
is a patent for a product, that is,
protection given to the end product
IC : PTpnsgk01
 of a discovery process, say the anti-
infective pharmaceutical molecule
ciprofloxacin. Having said that, product
patents would be best understood if you
asked me what a process patent is.

PRODUCTION COST The cost, or any
element of such cost, associated with
the manufacture of an article from the
raw material to the finished state, in
its primary packaging.

PRODUCTION CYCLE The entire
phase of a manufacturing process,
starting at the raw materials stage
and finishing with the output of
finished goods.

PRODUCTION LINE A system of
manufacture, where each item, such as
a car, moves slowly through the factory,
new sections being added to it as it
goes along.

PROFIT AFTER TAX or PAT This is
arrived at by deducting expenditure
(cost of materials, manufacturing
expenses, overheads, interest, and
depreciation) from income (net sales
plus other income) and providing for
taxation and inv estment allowance
reserve the on amount. However, what
remains is not entirely distributed
among shareholders. A portion of this
large if the company is growth-oriented
- is transferred to general reserve.

PROFIT CENTRE D e p a r t m e n t s o r
segments of an organization which are
responsible for producing profits on
their own. A diversified company may
have separate profit centres in each
of its industries.

P R O F I T T A K I N G Selling a share,
bought when its price was relatively low,
when the market price has risen. When
a l a rg e n u m b e r o f i n v e s t o r s , o r
institutional investors who own large
block of shares do this, the market drops.

PROJECT EVALUATION The process
of determining the financial results
arising from a proposed investment.
The evaluation covers the establishing
of criteria against which the
investment may be judged, the
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relevant data for the project(s) and
the calculation of the results.

PRO RATA (“at a certain rate; in
proportion to”) A term used when
expenses, income, etc. are
apportioned on an inferred equitable
basis.

PROTECTIONISM A policy that
protects domestic producers from
foreign competition by imposing
tariffs, quotas, etc.

PROXY 1. A person acting in place of
another with the latter’s permission,
e.g. voting for him at a shareholders’
meeting. Normally the proxy votes in
accordance with the principal’s
instructions, but he may have the
freedom to vote as he thinks fit. 2. A
document in which a member of a
company or other organization can
register his vote upon a resolution to
be presented to a meeting which the
member cannot attend.

PUBLIC LIMITED COMPANY A
limited liability company, whose shares
can be bought by the public on the
stock exchange. In Britain, such
companies have plc after their names.

PURCHASING POWER The money
available to a group or sector of the
population for the purchase of goods.

QUALITY CONTROL The functions of,
and procedures relating to, the
testing and acceptance of all materials
and components at all stages of
manufacture from raw materials to
finished product.

QUALITY CONTROL CHART A graph
which plots the fluctuations of a
variable within prescribed limits. Time
is plotted on the horizontal axis, while
the central vertical axis plots the
average value of the variable.
Accompanying it on either side are the
prescribed upper and lower limits of
the variable (usually ± three standard
B deviations from the average). If
these limits are exceeded then the
variable is out of control.
(189) of (202)

QUALITY CONTROL, STATISTICAL
The application of statistical techniques
based on probability theory to establish
standards of quality and to maintain
adherence to such standards in an
economical manner.

QUALITY REPORT A report on the
condition of material received from
suppliers prepared by the inspection
function of a business.

QUID PRO QUO A concession made
by one party to a business transaction
in response to a concession made by
the other party.

QUORUM A minimum number required
to be present at the beginning of a
meeting of a board of directors, etc.
in order for the meeting to be able to
conduct business. The number is
specified in the organization’s
constitution or articles of association.

QUOTATION 1. A written or verbal
statement of the price and terms on
which an article or service is offered
for sale. 2. The privilege of having
one’s company shares, etc. dealt in
on a Stock Exchange and the current
market price listed in the official
publication. In return for this privilege
the Stock Exchange requires various
conditions to be met with regard to
the disclosure of information about
the company.

RAIDER 1. A company which
suddenly buys shares in another
company before making a takeover
bid. 2. 4 RAIDER A takeover artist,
who may be an individual or corporate
body, who b y buying a contro ll ing
interest of shares in a target company,
runs it his way, by appointing a new
management team, and formulating a
new set of policies. The number of
such predators is on the increase in
the Indian corporate scene, although
not so long ago takeovers used to be
thought of as a special feature of the
British and U.S. corporate jungle.

RALLY A recovery in the price of a
commodity, security or currency following
a downward movement in its price.
(190) of (202)

RANDOM ACCESS A facility of some
computers which permits the rapid
retrieval of data from the computer
store without the need for input data
to be presented in any particular
sequence.

RANDOM SAMPLE A sample taken
from a population in which each unit
has an equal chance of being selected.

RATIFICATION The action of a
principal in formally binding himself to
the terms of a contract arranged by
his agent who, in concluding the
contract, has gone beyond the
authority conferred by the principal.

RATING 1. An evaluation of the
creditworthiness of an individual or
business. 2. An evaluation of the
general value of a share 3. An
assessment of workers’ performance
used to establish the standard time
allowed for performance of the job.

REAL ESTATE Immovable property
such as land held on a freehold.

REAL INTEREST RATE Current
interest rate less the rate of inflation;
of relevance in decisions regarding
long-term fixed interest securities.
Since most current interest is taxed,
the post-tax interest is likely to fall
below double digit inflation rates, which
means a steady erosion of capital.

REAL RATE OF RETURN Return on
an investment adjusted for inflation.

RECEIVABLES Sums of money due to
a business from persons or business
to whom it has supplied goods or
services.

RECESSION A reduction in the level
and volume of economic activity
occasioned by loss of business
confidence, lack of investment, etc.
The size and duration of the cut-back
depends on the efficiency of
government’s fiscal and monetary
measures designed to arrest the
downward movement.

REDEMPTION Buying back a loan
instrument by paying off the lender.
In the case of debentures or
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 preference shares redemption means
paying back the inv estor, ei ther in
cash, or through equity shares.

REDEVELOPMENT The action of
moving personnel from one workplace
to another or from one job to another.

REDISTRIBUTION OF WEALTH The
proposal to share out the wealth of a
country among the population (as by
taxing the rich and increasing
government benefits to the poor).

RED TAPE Excessive official
paperwork which delays business
development.

REDUNDANCY The disappearance of
a job generally as a result of a
reduction in demand or the
introduction of equipment which
reduces manpower needs.

REFLATION An expansion of the
economy brought about by
government a c t i v i t y. It is
characterized by rising employment
and increased production.

REMUNERATION SYSTEM The
various components which go to make
up a gross wage. They may comprise
b a s i c p a y, b o n u s p a y m e n t s , a n d
allowances such as for dirty work, etc.

RENUNCIATION Giving up the right to
subscribe to allotted shares in a RIGHTS
ISSUE or selling such rights for a
consideration. A shareholder who does
that is the renouncer, and the person
who has got the rights from him is the
renouncee. Prices of renounced rights
are sometimes quoted on the stock
exchange. Even with the price of
renunciation added, such rights shares
are usually cheaper than their ruling
market price.

REPO r e p u r c h a s e a g r e e m e n t o r a
ready forward sale, are all terms for
a sale and repurchase agreement in
money markets. It is a transaction
whereby banks and other financial
institutions raise and invest short-
term funds. Under this transaction a
holder of securities (generally
government bonds) sells them to an
investor with an agreement to
repurchase them at a fixed price on a
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fixed date. The security "buyer" in
effect lends the "seller" money for the
period of the agreement, and the
terms of the agreement are structured
to compensate him for this.

RESERVES Setting aside of a part of
a company’s earnings for expansion,
modernization, payment of future
dividend, bonus to shareholders,
redemption of debentures and
preference shares, and to meet any
contingencies.

RESERVE CAPITAL That part of a
company’s issued share capital which by
special resolution is not to be called up
except in the event of a winding-up.

RESERVE PRICE T h e p r i c e o f a n
article offered for sale, especially at
an auction, below which the seller
refuses to accept any offer. The price
need not be specified but there must
be a reference in any literature
mentioning the article and at the sale
itself to the fact that a reserve price
has been placed on the article.

RESTRICTIVE PRACTICE An action
which curtails competition, e.g.
agreed prices, production quotes,
allotment of markets, scale of fees,
demarcation of skills and jobs.

RETURN ON CAPITAL T h e p r o f i t
earned by an investment, often
expressed as a percentage of the
investment. There is little consistency
in the application of the term, in view
of the many alternative ways of
assessing both profit and capital. The
criteria for measuring the return on
capital may depend upon whether the
ratio is to be used as a guide to
potential investors, creditors,
management, etc.

RING TRADING A form of market
trading, especially the futures market
in commodities, whereby a group of
dealers negotiate to buy and sell. The
prices established by the group
determine the market price in the
futures market.
(191) of (202)

RIGHTS ISSUE Issue of shares at par
or at a premium by an existing company
to its shareholders in a certain
proportion (and additional shares, if
available) to their holdings, as a matter
of their right to receive preferential
treatment. An existing shareholder,
besides subscribing to such an issue,
can let his rights lapse, or renounce his
rights in favour of another person
(free, or for a consideration) by signing
the renunciation form. The renouncer
may or may not have the right to apply
for shares additional to his entitlement,
depending upon the terms the company
attaches to the renunciation of rights.

RISK AND RETURN An important
concept in investment, which must take
into account risk aversion, which is a
common enough human tendency. In
investment, generally speaking, the
less the risk, the lower the return. The
absolute risk is the insolvency of the
borrower or the company whose
shares have been bought. Government
bonds are free from insolvency risk;
their returns are also the lowest.
Debentures and fixed deposits with
companies are not risk-free, although
their returns are higher. Equity shares
carry the highest risk; their returns can
also be high, both from cash dividends,
bonus shares, and from appreciation
of their price.

ROLLING SETTLEMENTS A rolling
settlement is one in which trades
outstanding at the end of the day have
to be settled (payments made for
purchases or deliveries in the case of
sale of securities) at the end of the
settlement period. In a T+5 rolling
settlement, a transaction entered into
Monday has to be settled on the fifth
w o r k i n g d ay, w h i c h w il l b e t h e
subsequent Monday, when either pay
in or pay out takes place. As opposed
to this, in a weekly settlement, the
transactions made during any of the
five trading days are permitted to be
squared up - or purchases offset
against sales - during the same
settlement period. Only those
(192) of (202)
transactions, which are outstanding at
the end of the last trading day, are
required to be settled by payments or
deliveries.

ROUND LOT The minimum number of
shares in a trading lot; 100 or 50 in
the case of Rs 10 shares, and 10 or 5
for Rs 100 shares. Any number falling
short of the trading lot is called an
ODD LOT, for which the selling price
for the investor is lower than normal,
but the buying price is higher.

ROYALTY The sum paid for the right
to exploit the property rights held by
a n o t h e r. T h u s , r o y a l t i e s m a y b e
payable for exploitation of mines, the
use of patents or the publication of
books. The royalty is generally based
upon the extent of such exploitation,
e.g. the quantitative use, or the income
yielded from such use.

SALARY STRUCTURING The concept
of ensuring that salaries are consistent
within a company and competitive with
salaries elsewhere in the same industry
or in the same geographical location.

SALES INVENTORY RATIO The
relationship between the value of sales
for a given period and the average
value of finished stocks held during
that period.

SCRAP VALUE he estimated or actual
price at which an asset can be disposed
of at the end of its useful life or at which
defective goods can be disposed of.

SEASONAL VARIATION The
fluctuation in demand or output of a
business or industry which occurs in
the cycle of one year.

SECONDARY MARKET Place where
already issued and outstanding shares
are bought and sold. Distinguished from
the primary market in which the issuer
sells shares directly to the investor.

SECURED DEBT A debt instrument,
like a bond or a debenture, whose
principal amount has been secured by
the issuer by set ting aside certain
tangible assets as collateral. If the
issuer is in default the creditors can
lay claim to the assets.
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SECURITY A security is a document
that gives its owner specific claim of
ownership of particular assets. The
two main types of securities are bonds
& debentures, and shares. The bond
or debenture holder gets an assured
interest only for the period of holding,
while the shareholder is part-owner
of the company and has invested in
its future, with a corresponding share
in its profits or loss.

SECURITIES LENDING In Securities
lending the legal title of a security is
temporarily transferred from a lender
to a borrower. The lender retains all
the benefits of ownership, other than
the voting rights. The borrower is
entitled to utilise the securities as
required but is liable to the lender for
all benefits (e.g dividends, interest or
rights).

SECURITISATION Securitisation is a
process by which the forecast future
income (the money that's due to come
in) of an entity is transformed and
sold as debt instruments such as bonds
with a fixed rate of return. This allows
the company to get cash upfront,
which can be put to productive use in
the business.

SELF-EMPLOYED PERSON A person
who works on his own account, either
earning fees and commissions or
receiving a salary from his own
company.

SELF-MADE MAN A person who is
rich and successful because of his own
efforts.

SELF-REGULATORY BODY An
association, such as the Stock
Exchange, which is regulated by its
own members.

SELLER’S MARKET A market where
a seller can ask a high price for goods
or services because there is a large
demand and supply is limited.

SELLING SHORT Sale of shares,
which he doesn’t possess, by a
speculator. He usually borr ows the
shares from his stockbroker, promising
to replace them at a future date
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hoping that the price will fall by then.
If the price falls, he buys the shares
at the lower rate, and makes a profit
on the difference. If the price has
risen on the other hand, he has to
buy the shares at the higher price,
and sustains a loss.

SENSEX It is the sensitive index of
the Bombay Stock Exchange. It
reflects the weighted average price
of 3O most volatile A Group shares on
the BSE. Widely criticized to be an
unrepresentative but highly influential
index.

SERVICE INDUSTRY A section of the
economy which produces a service
rather than a manufactured end-
product. Insurance, banking and
tourism are all service industries.

SERVICE LIFE The estimated useful
life of an asset to a business, which
may be less than its physical life.

SHARE A share in one unit of
ownership of a company. If a company
has issued 1,000,000 shares, and a
person owns 1000 of them, he owns
0.1% of the company. His share of
the company can be reduced if the
company makes a further public or
rights issue and he can’t pick up
enough shares to maintain the
percentage of his holding.

SHAREHOLDER A person or a legal
entity who owns equity or preference
shares of a company. The proof of his
ownership is the share certificate,
which he may hold in multiple numbers,
each certificate comprising a certain
quantity of shares.

SHELF LIFE 1. The length of time a
product remains in stock before sale.
2. The length of time during which a
product retains its required qualities
before deteriorating.

SHELL COMPANY A company which
does not trade, but exists as a name
o n l y, t o a c q u i r e s h a r e s i n o t h e r
companies or to be used as the vehicle
for a takeover bid.
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SHOP FLOOR The place of work in a
factory or office, together with the
employees who work there.

SHORT LIST 1. A list of some of the
better candidates for a job who are
asked to come to interview or to take
a test. 2. To put a candidate’s name
on a list of people to be invited to take
a test or to attend for an interview.

SICK INDUSTRIAL COMPANIES ACT
SICA is an acronym for Sick Industrial
Companies Act. It was enacted by
Parliament in ’85 in a bid to arrest the
problem of growing industrial sickness
and ensures more efficient use of
productive resources. The objectives
of SICA are to secure timely detection
of sick and potentially sick industrial
undertakings

SIMULATION The mathematical
expression of business problems, and
their solution by the application of
mathematical methods.

SINKING FUND A sum of money set
aside by a firm for the purpose of
paying off a specific debt which may
arise in future

SISTER COMPANY One of several
companies which are part of the same
group.

SLEEPING PARTNER A member of a
partnership who introduces finance
but who does not participate in the
management of the business. Unless
otherwise stated he is fully liable with
other partners for the debts of the
business.

SOFT CURRENCY A currency which
has an unstable value in international
exchange, with a tendency to decline
in value in the long run. This results
from internal economic weakness and
an externally adverse balance of
payments.

SOFTWARE In computing, the
programs and documentation as
opposed to the machinery
(“hardware”) itself.

SOLVENCY The position of being able
to meet one’s debts as they fall due
for payment.
(194) of (202)

SPAN OF CONTROL The number of
subordinates who can be successfully
controlled by one person. The number
depends to some extent upon the level
within the organization. Thus, the
maximum number successfully
controlled by a foreman might be 10
and by a managing director.

SPECIAL IMPORT LICENCE The
special import licence (SIL) is an
incentive given to exporters to import
goods that are otherwise restricted,
subject to payment of normal customs
duties. This licence is freely
transferable.

SPECULATION 1. Dealing in stocks,
shares, commodities or currencies,
etc. with a view to earning profits
through market price movements such
as bull and bear transactions. 2. An
activity in which a person assumes high
risks, often without regard for the
safety of his invested principal, to
achieve large capital gains. The time
span in which the gain is sought to be
made is usually very short. The shorter
the term, the more speculative the
investment is.

SPENDING POWER The amount of
money which an individual or group has
available for the purchase of goods.

SPONSOR A company paying for an
artistic or sporting activity, as a means
of promotion, usually retaining the
right to advertise the company’s
products at the event.

SPOT TRANSACTION A spot
transaction is the purchase or sale of
foreign currency at a fixed price, with
delivery and payment to take place
on the second business day after the
day of the transaction. Transactions
with value dates (dates when payment
and delivery are made) up to and
including seven business days from
the date of trading are also
considered spot transactions, subject
to agreement between the parties at
the time of the deal. In such cases,
the buyer has to pay slightly more -
an amount worked into the exchange
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 r a t e - fo r t h e f a c i l i t y. M o s t s p o t
transactions are concluded over the
telephone. Subsequent confirmation
by the customer is not necessary if
the transaction is conducted via
foreign currency accounts at the
bank.

SQUARING UP Settling of accounts
on ACCOUNT DAYS, by actual delivery
of shares or carrying forward one’s
transactions to the next account day,
b y p a y i n g B A C K WA R D AT I O N o r
CONTANGO.

SQUEEZE A restriction on credit
facilities and consumption by raising
interest rates, imposing stiff purchase
controls, etc. The object of a squeeze
is to reduce inflationary pressures and
to improve the balance of payments
position by discouraging imports.

STAG Fast in-and-out speculator who
is in the market to make a quick buck
& is not interested in investments.

STAGFLATION A phenomenon in
which an economy shows signs of
stagnation (high unemployment, slow
or negative growth, etc.) but also has
a high inflation rate. This is indeed the
worst possible combination.

STANDARD HOUR A h y p o t h e t i c a l
hour which represents the amount of
work which should be performed in one
hour under standard conditions. Since
it is a measure of work rather than
time, it is a means by which amounts
of different work or differing activities
may be expressed by a common
denominator. The standard hour may
in some cases represent work
p e r f o r m e d i n l e s s t h a n a n h o u r,
particularly where an incentive
payments system exists.

STANDARDIZATION The
determining and setting of fixed
dimensions, qualities, performances
and nomenclature in order to facilitate
the interchangeability of parts,
reduce variability and size of stocks,
and reduce production costs.
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STANDARD OF LIVING The material,
physical and cultural well-being of an
i n d i v i d u a l , g r o u p o r c o m m u n i t y.
Monetary incomes are an important
indicator of well-being although
comparisons over a period of time
must reflect price changes and
movements in purchasing power. An
overall measurement of standards
must also include the cultural, natural
and social environment.

STANDARD TIME That time required
by a normal worker operating under
normal conditions to complete a piece
of work of satisfactory quality.

STATE-OF-THE-ART A s y s t e m o r
technology which is technically as
advanced as possible.

STATUS QUO The state of things as
they are at present.

STATUS SYMBOL An object, such as
an expensive car, which is bought as
an expression of the owner’s
importance.

STATUTORY LIQUIDITY RATIO The
proportion of their funds which banks
are required to invest in government
securities as a part of their statutory
liquidity ratio (SLR) requirements. The
government securities are bonds issued
by the Central government to meet its
revenue requirements. Although the
bonds are long-term in nature, they are
liquid as they have a ready secondary
market.

STOCK MARKET INDEX Stock market
index is a barometer, which reflects the
overall performance of the shares in the
stock market. Movements of the index
should represent the returns obtained by
typical share portfolios in the country.
When an index goes up, it is because
the stock market thinks that the
prospective dividends will be higher
than previously thought. When
prospects of dividends in the future
become pessimistic, the index drops.
An ideal index gives instant-to-instant
readings about how the stock market
perceives the future of the corporate
sector.
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STRUCTURAL UNEMPLOYMENT
Unemployment caused by a long-term
decline in an industry rather than the
state of the economy in general.

SUBSIDIARY A company which is
controlled by another company through
at least a majority shareholding.

SUBSIDY A grant made b y a
government agency to compensate
producers for setting market prices
below the level which a free market
would determine. In India, the
government provides massive subsidies
to farmers in the form of water, power,
fertilizer etc.

SUNRISE INDUSTRIES New
industries which are coming up, growth
a re a s w h i c h a r e g o i n g t o p l ay a n
important role in the country’s
e c o n o my, e . g ., c o m p u t e r s , l a b o u r
saving domestic appliance, fibre optics
cables, animal protein substitutes, off-
shore drilling, dry docking, etc.
In v e s t m e n t i n t h e s h a r e s o f s u c h
companies is likely to be profitable in
the long run.

S W O T A N A L Y S I S A ty p e o f
FUNDAMENTAL ANALYSIS of the health
o f a c o m p a n y by e x a m i n i n g i t s
strengths(S), weaknesses(W), business
opportunities(O), and any threats(T) or
dangers it might be exposed to.

SYNERGY 1. Greater effectiveness
which comes from joining two
companies together, where the result
is stronger than was the case when the
two companies were separate. 2. It
refers to the working together of two
similar agents to produce an effect
greater than the sum of their individual
effect. It is the ideal sought to be
achieved through mergers and
acquisitions, whereby the performance
of a combined enterprise is expected
to exceed the sum of the separated
enterprises. This can happen because
the strengths of either company (one
strong in sales, the other in research
and development; one strong in
reserves, the other with an excellent
EPS, etc.) tend to make the merger
(196) of (202)
produce more than just double results.
Often described as 2 + 2 = 5.

TRAI The TRAI (Telecom Regulatory
Authority of India) Act allows the body
to set telecom tariffs and fix terms
and conditions under which operators
can interconnect with other. It also
requires the government to seek
recommendations from TRAI before
issuing a licence.

TAKE-HOME PAY The net wages or
salary remaining after all deductions
have been made.

TAKEOVER The acquisition of a
company by another company or
person through purchase of sufficient
shares to gain control

TANGIBLE ASSETS Assets which
have material existence, such as
stocks, plant, etc.

TAXABLE INCOME That portion of
total income remaining after deduction
of reliefs and allowances and upon
which income tax is payable by
application of the appropriate rates of
tax.

TAX AVOIDANCE The legitimate
search for and adoption of devices for
the purpose of minimizing tax liability,
for example through maximizing
allowances by taking out additional life
assurance policies.

TAX EVASION The illegal, wilful act
of escaping a liability to tax.

TAX EXEMPTION The freedom from
the obligation to pay tax.

TAX-FREE INCOME That portion of
total income which is not liable to
income tax.

T A X H A V E N Any foreign country
residence which enables people to pay
less tax than they would do if they kept
their income in their own country. The
Isle of Man, the Channel Islands,
Switzerland and Liechtenstein are all tax
havens to a lesser or greater extent.

TAX HOLIDAY A period when a new
company pays no tax, used as an
incentive to attract companies to set
up in new areas.
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TECHNICAL ANALYSIS A method of
prediction of share price movements
based on a study of price graphs or
charts on the assumption that share
price trends are repetitive, that since
investor psychology follows a certain
pattern, what is seen to have
happened before is likely to be
repeated. The technical analyst is not
concerned with the fundamental
strength or weakness of a company
or an industry; he studies investor and
price behavior.

TECHNOLOGICAL UNEMPLOYMENT
Unemployment cause by technological
change.

TELECOM GATEWAY A telecom
gateway is a switching infrastructure,
which connects the domestic telecom
network with foreign telecom networks
and ensures smooth flow of
international traffic between the two
countries. For instance, an outgoing
call could originate on one of the local
telephone exchanges of the
department of telecommunications
(DoT), Mahanagar Telephone Nigam
(MTNL), or of one of the cellular
operators. It reaches a gateway
through DoT's network, from where
the call is transmitted to the desired
international destination.

TERTIARY PRODUCTION Activities
concerned with the provision of services,
such as catering or hairdressing.

TEST MARKETING The practice of
offering a new product or service for
sale under controlled conditions in order
to obtain information from which a
decision may be taken regarding the
product’s marketability on a wider
scale.

THERBLIGS The motion performed by
parts of a human body. F.B. Gilbreth,
from whom the name derives, divided
work into 17 different therbligs, but
this number has since been increased.

THINK TANK A group of experts who
meet to discuss problems and put forward
plans or propose solutions to a
government or to a large industrial group.
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THIRD WORLD The countries of
Africa, Asia and South America, whose
economies are not highly developed.

THREE-POSITION PROMOTION
PLAN The concept that an employee,
while carrying out his present duties,
should ideally also perform two other
functions, namely training his
successor and learning his superior’s
job.

THROUGHPUT The volume of
production or other activity going
through a particular department,
office, factory, etc.

TIGHT MONEY POLICY Government
policy to restrict the money supply and
consumer credit.

TIME-SHARING 1. A situation where
time on a computer system is shared
between several users, each with a
separate terminal. 2. A system of
property ownership, where several
people each buy the right to use the
property for a certain time each year.

TIME STUDY The recording and
analysis of times and rates of work
for each of the elements involved in a
job in order to derive a standard time
for the job at a specified level of
performance. It is thus quantitative
in nature.

TIRED (BULL) LIQUIDATION/
UNLOADING Bulls take the optimistic
approach to gain, buying in the hope
that share prices will rise. There may
b e s i t u a t i o n s , h o w e ve r, w h e n t h e
price rise doesn’t take place for a long
time, or after going up a bit, remains
there for quite some time. The bull’s
optimism gets tired waiting, and he
decides to liquidate his LONG
POSITION and unload, i.e., sell off his
shares. Prices may fall as a result of
such activity if too many bulls
participate in it.

TOLL A charge made for the use of
some bridges, roads, docks, etc.

TRACK RECORD The success or
failure of a company or an individual
in the past.
(197) of (202)

TRADE, BALANCE OF The relationship
between the value of exports and
imports. The balance is favourable if
the value of exports exceeds that of
imports - the difference between them
being referred to as the trade gap.
There are two kinds of balance : the
visible balance, i.e. goods, and the
invisible balance, i.e. services such as
insurance and shipping.

TRADE BARRIER Any impediment to
free trade. Tariffs and quotas are both
trade barriers.

TRADE BLOC Any group of countries
which try to increase trade among
themselves.

TRADE CYCLE An alternative pattern
in economic activity from boom to
slump to boom and so on. The pattern
is induced by changes in demand and
in investment policies, governmental
economic and political actions and their
impact on the outlook and mood of the
business world. The pattern is not very
regular but both long (9-11 year) and
short (3-year) patterns have been
discerned.

TRADE FAIR A large exhibition and
meeting, where a certain category of
product is advertised and exhibited.

T R A D E M A R K A d i s t i n c t i v e m o t i f,
word, or signature generally placed on
a product, its package, advertisements
or literature, indicating a trade
connection between the product and
some person, generally the
manufacturer or retailer, having the
right to use that mark. Registration of
a trademark bestows the exclusive
legal right to its use on the owner.
Illegal use of the trademark is
punishable by law.

TRANSFER PRICING Transfer prices
are the charges made when a company
supplies goods, services or finance to
another company to which it is related.
It is an internationally accepted principle
that transactions between related
parties should be based upon the same
terms as between unrelated parties.
Thus both tax treaties entered into
(198) of (202)
between countries and domestic tax
legislation of various countries have
adopted the arm's length principle. With
globalisation, transfer pricing became
an unwanted reality. Price charged by
one company in Country A to another
company in Country B is reflected in the
profit and loss account of both
companies, either as an income or
expenditure. Thus prices charged impact
the tax paid by the two related
companies. By resorting to transfer
pricing, related entities can reduce the
global incidence of tax by transferring
higher income to low-tax jurisdictions
or greater expenditure to those
jurisdictions where the tax rate is very
high.

TRAVELLER’S CHEQUE A c h e q u e
issued by financial and banking
institutions which can be purchased in
domestic currency and cashed at
various agencies abroad into local
currency. Traveller’s cheques are paid
for in advance and pr ovide a
convenient and safe way of carrying
money in a widely acceptable form.

TREASURY The government
department responsible for managing
the national finances, i.e. revenue
collection and expenditure, and also for
directing and contro ll ing economic
activity in accordance with government
policy.

TRUSTEE One who holds property in
trust for another. Although he may hold
the title to the property, all benefits
belong to beneficiaries under the trust.
Breach of trust may make the trustee
liable personally for any losses thus
incurred.

TRUSTEE IN BANKRUPTCY The
administrator of the estate of a
bankrupt. He holds the title of the
d e b t o r ’s p r o p e r t y a n d i s e i t h e r
appointed by the creditors or is the
official receiver.

TURNKEY OPERATION A business
deal where a company tak es
responsibility for building and fitting a
f a c t o r y, s c h o o l , h o s p i t a l , e t c ., &
provides the staff to run it, so that it
IC : PTpnsgk01
 is complete and functional when the
purchaser takes it over.

TURNOVER 1. The volume of sales,
either in value or quantity, for a given
period. 2. The frequency with which
assets, such as stocks, or personnel,
are replaced during a given period.

ULTRA VIRES ACT Any act which is
“beyond the powers” granted to a
body corporate or incorporate, as set
out in the body’s constitution or in the
memorandum of association in the case
of a registered company. An ultra vires
act or transaction, though legal in
i t s e l f, i s v o i d . A n a c t w h i c h i s
incidental to or consequential upon the
authorized objects would not generally
be ultra vires.

UMBRELLA ORGANIZATION A large
organization which includes and
represents several smaller units.

UNDER-CAPITALIZATION The state
of having insufficient capital for
business requirements.

UNDER-EMPLOYMENT 1. A situation
where there is not enough work for
workers in a company to do. 2. A
situation where there is not enough
work in a country to occupy all the
workforce.

UNDER-MANNING The situation
where a company does not have
enough staff for its operations to be
carried out effectively.

UNDERVALUED SHARES Shares
selling below their book value or the
price earning ratio which analysts
believe they deserve. There may be
many reasons for this: the industry is
out of favour, or the company has
current labour trouble, or it is not well-
known enough or, this is quite common,
the company hasn’t yet caught the
investors’ fancy. Fundamental analysts
often identify and recommend such
shares before they become fully
priced. Companies with undervalued
shares are often targets of takeovers
as their shares can be acquired
cheaply.
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UNDERWRITE 1. To undertake to
take up that portion of a company’s
share issue which is not subscribed for
by the public. This action thereby
ensures the flotation of an issue and
is rewarded by a fee. 2. To accept
part of the liability on an insurance
p o l i c y, e s p e c i a l l y i n m a r i n e a n d
aviation insurance. A banker or a
financial institution which agrees to
buy up the unsubscribed portion of a
new issue, should such a thing happen,
and sells it later to investors at a
premium is an underwriter.

UNEMPLOYMENT The lack of paid
work although such is being actively
sought. Va r i o u s forms of
unemployment exist. Frictional
unemployment is caused through the
limited demand for a particular skill in
a locality. Seasonal unemployment is
caused by a fluctuating demand for
labour resulting from periodic changes
in climate or changes in consumer
tastes and fashions.

UNIQUE SELLING PROPOSITION
(USP) A particular feature which
differentiates a product from
competing products, which can be
emphasized when promoting the
product. Commonly known as USP.

UNIVERSE The total population from which
a sample is taken for a market survey.

UNLISTED SHARE A share which is not
registered with any stock exchange and
therefore does not feature on any
stock exchange list. Owners of such
shares are deprived of the protection
that the holder of a listed share enjoys
from the stock exchange. These shares
are also very difficult to sell and carry a
large risk. Usually, the more exchanges
at which a share is listed, the greater is
its liquidity.

USEFUL LIFE The normal operation
period for an asset. This period is
determined by such factors as its
physical condition, extent of use and
quality of maintenance. Technological
developments may render an asset
obsolete before and end of its physical
life.
(199) of (202)

USER-FRIENDLY ( O f a c o m p u t e r
system or program) which the user will
find simple to use.

U S U R O r i g i n a l l y, t h e p ra c t i c e o f
lending money in return for the
payment of interest. The term is now
applied to money lent at exorbitant
rates of interest.

VALUE ADDED The difference
between the income received from the
sale of the products or services of a
business and the expenditure incurred
in buying materials from outside
sources to produce those products.

VALUE ADDED TAX 1. A method of
taxation of goods and services
whereby tax is levied on the extra
contribution to the value of a good or
service rendered through a business’s
operation. The tax rate is applied to
the value added, as calculated by
subtracting the invoiced cost of its
supplies from the invoice price charged
by the business for the goods or
services it produces. Popularly called
VAT. 2. A form of excise taxation of
goods which shifts the tax base
towards the point of final consumption
rather than first point sale thereby
ensuring `tax neutrality' of production
decisions. Since each producer up the
value chain would like to claim the
benefit of set-off, there is automatic
pressure on the producers down the
value chain to pay their tax.
Moreover, since tax collection takes
place in stages, evasion at any one
stage is automatically compensated at
a later stage.

VALUE ANALYSIS A technique that
yields value enhancement by the
critical examination of a product or
system, with reference to its essential
function. Originally an engineering
concept, the technique has been
applied to systems as well as products.
Also called functional analysis.

VALUE PARADOX A classical paradox
in economic theory: if water is
indispensable but diamonds are not,
why is water cheap and why are
(200) of (202)
diamonds expensive ? This confuses
inherent value with scarcity value.
Diamonds are scarce and water is not
and their price is set by demand and
supply.

VARIABLE COSTS OR VARIABLE
EXPENSES T h o s e o v e r h e a d c o s t s
which vary directly with output.

VARIETY REDUCTION The reduction
or elimination of certain products,
product ranges, components or
materials which are uneconomic or
whose elimination will produce cost
benefits.

VENTURE CAPITAL 1. Capital for
investment in projects which have a
high risk potential. 2. Venture capital
is the capital provided by firms of
professionals who invest alongside
management in young, rapidly growing
or changing companies that have the
potential for high growth. Thus a
venture capitalist (VC) may provide
the seed capital for unproven ideas,
products, technology-oriented or
start-up firms. The VC may also invest
in a firm that is unable to raise finance
through the conventional means.

VERTICAL INTEGRATION The
merger of firms engaged in different
stages of production of an item.
“Backward integration” would be used
to describe the merging of a tyre
manufacturer with a rubber plantation.
“Forward integration” would be used
to describe a merging of a brewer with
a hotel chain. Motives for vertical
integration include the desire to
secure sources of supply or outlets
for the finished product.

VOLATILE SHARES Shares which are
subject to sharp fluctuations in price,
showing a considerable difference
between their highest and lowest
recorded prices.

VOLUME Total number of shares, etc.
bought and sold during a certain
period. Volume figures are reported
daily by stock exchanges, both of
individual shares and of the total
amount of trading. Technical analysts
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 use volume figures to predict rise or
fall of share prices. Also, a large
volume of transactions indicates a
bullish trend.

VOUCHER A document issued as proof
of delivery of goods, receipt of
money, etc. which also serves to act
as evidence of the correctness of
accounts.

WAGE FREEZE A period when wages
are not allowed to increase.

WAGE INCENTIVE A monetary
encouragement paid to stimulate
greater production, better quality of
work, etc. Incentives may be part of
the pay structure (e.g. piece rates,
relating earnings to output, with
bonuses for extra output) or may take
the form of annual awards depending
on business performance in the year
(e.g. profit-sharing or annual bonus.)

WALL STREET 1. The street in New
Yo r k w h e r e t h e N e w Yo r k S t o c k
Exchange is situated 2. The US
financial world in general

WALL STREET JOURNAL Published
five days a week by Dow Jones & Co.,
it is the most distinguished journal of
finance and investment. The WSJ
reports not only on U.S. economy and
finance, it also surveys world
economy.

WASTING ASSET Any asset whose
value diminished with use rather than
with time, such as mines or quarries
whose value, once exhausted, cannot
be replaced.

WEAR AND TEAR The damage caused
by normal use of a piece of equipment,
not normally covered by insurance.

WEIGHTED AVERAGE An average
which takes several factors into
account, giving some more value than
others.

WELFARE STATE A country which
provides through the central
government and its agencies minimum
standards of living for the population
in terms of income, health, education,
housing etc.
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WHITE-COLLAR WORKER Any
clerical or professional worker who
may wear conventional clothes at
work. Otherwise blue-collar worker.

WHITE GOODS Large items of
electrical equipment for kitchens, such
as refrigerators and washing
machines.

WHITE KNIGHT A term used in a
HOSTILE TAKEOVER context, when a
c o m p a n y, w h i c h c a n n o t p r ev e n t a
takeover looks for a friendly rescuer
who might outbid the BLACK KNIGHT
and acquire the company on amicable
terms.

WHOLESALE PRICE INDEX An index
showing the rises and falls of prices
of manufactured goods as they leave
the factory.

WHOLESALING Activities related to
the bulk purchasing of goods direct
from manufacturer/producer and the
breaking down into smaller units for
distribution and sale to retailers.

WHOLLY-OWNED SUBSIDIARY A
subsidiary company which is owned
100% by a parent company.

WINDFALL PROFIT Any unexpected
profit, often unconnected with the
normal business of an enterprise.

WIRELESS APPLICATION
PROTOCOL The Wireless Application
Protocol (WAP) is an open (non-
proprietary) specification that
empowers mobile users with wireless
devices to easily access and interact
with information and services
instantly. The purpose of WAP is to
enable easy fast delivery of relevant
information and services to mobile
users. Hand-held digital wireless
devices such as mobile phones,
pagers, two-way radios, smart
phones and communicators make use
of WAP.

WORKER PARTICIPATION A
situation where workers take Bretton
Woods Agreement, 1945, in order to
make long-term loans to governments
to finance postwar reconstruction and
to finance development expenditure
(201) of (202)
 in less advanced countries. The Bank
is backed by share capital
subscriptions from member countries
and by bonds issued in the money
markets. In addition to government
lending, the Bank makes loans to
private undertakings and provides
technical services to governments. It
also undertakes economic surveys for
the long-term planning of resources.
In recent years, the bank has
witnessed a steady decline in its clout
due to the emergence of newly
developed economies like the far-east
Asian nations.

XB (EX-BONUS) The price of a share
without the benefit of the bonus
declared. There is a RECORD DATE,
a n n o u n c e d by t h e c o m p a n y, a f t e r
which the price of a share (which has
now fallen) does not include the
bonus.

X-THEORY A traditional view of
human motivation that, because of an
inherent dislike of work and
responsibility, people prefer to be
directed, coerced and financially
induced with a closely controlled
organizational structure.

YIELD 1. The actual rate of return
received or obtainable from an
investment, generally expressed as
the annual income calculated as a
percentage of the purchase price of
the investment. 2. The rate of return
for a capital investment project, which
equates the net capital expenditure
with the discounted value of futures
net cash inflows. 3. The output of a
process.
(202) of (202)

YIELD TO MATURITY Yield to
maturity is the annualized rate of
return in percentage terms on a fixed
income instrument such as bond or
debenture, taking into account coupon
rates, frequency of payouts and
capital gains or losses. It is the
composite rate of return of all
payouts, coupon and capital gains. .
Say, you had a choice of investing in
two bonds issued by two companies -
one where you receive an interest
warrant annually at 16 per cent and
the other where the interest payout
is spread out over 12 monthly
installments at a rate of 15.5 per cent.
On the face of it, the first instrument
offers you a higher return. But the
coupon payments alone (payouts
through interest warrants) do not give
a correct picture about the yield of
the instrument. This is because the
yield on an instrument will rise with
the frequency of payouts.

Y-THEORY A theory of human
motivation based on the premise that
people are interested in work, want
responsibility and will direct
themselves without the need for
coercion by management.

ZERO-COUPON BOND A bond which
does not carry any interest, and which
is issued at a substantial discount to
its face value, the return being in the
gain the bond makes between the date
of purchase and the maturity date.
IC : PTpnsgk01